Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
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 2024

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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Charity. its Trustees and Advisers
Trustees. Report
Independent Auditor's Report on the Financial Statements
9-12
Consolidated Statement of Financial Activities
13
Consolidated Balance Sheet
14
Charity Balance Sheet
15
Consolidated Statement of Cash Flows
16
Notes to the Financial Statements
17-40

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 MARCH 2024
Trustees
A Adewunmi
O Brook (appointed 1 June 2023)
L Crompton-Reid {resigned 31 March 2024)
C Lawrence (resigned 15 May 2024)
M Locke, Chair to 03 October 2024
Dr C Michaels {resigned 15 May 2024)
S Parker, Vice Chair (resigned 1 April 2024)
R Paterson, Acting Chair from 04 October 2024
A Singh (resigned 9 June 2023)
E Casali (appointed 16 May 2024)
B Keen (appointed 15 May 2024)
K Parry (appointed 15 May 2024)
Company registered
number
08117915
Charity registered
number
1149979
Registered office
The Whitehouse
Wilderspool Business Park
Greenalls Avenue
Stockton Heath
Warrington
WA4 6HL
Independent auditor
Cooper Parry Group Limited
Statutory Auditor
Cubo Birmingham
Office 401
Two Chamberlain Square
Birmingham
B3 3AX
Bankers
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors
Primas Law
The Whitehouse
Wilderspool Business Park
Greenalls Avenue
Stockton Heath
WA46HL
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 MARCH 2024
The Trustees are pleased to present their annual directors. report togelher with the consolidated financial
statements of the charity and its subsidiary for the year ended 31 March 2024. These are also prepared to meet
the requirements for a directors, report and accounts for Companies Act purposes.
The financial statements comply wth the Charities Act 2011, Companies Act 2006, the Memorandum, and
Articles of Association and Accounting and Reporting by Charities.. Statement of Recommended Practi
applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable
in the UK and Republic of Ireland {FRS102 effective 1 January 2019).
Mission, Purpose & Public Benefit
The Audience Agency is an independent research and development organisation, committed to a world where
everyone enjoys equal access to a rich cultural and creative life, and with a purpose to enable a thriving. people-
centred cultural sector.
We provide research, ServI￿S and insight which help our network of clients and stakeholders adapt for and with
their communities. Our team is a collective of committed specialists with backgrounds in the cultural and
creative sectors, research andlor data Scien￿ who share a passion for arts and culture and its power to
transform society.
Our approach is insight-led and people-centred. This approach underpins a five-pillar programme of services:
Audience Development and Participation, Creative Places, Digital Transformation, and Evaluation and Impact,
Creative Economy
supported by a suite of popular. reliable data-tools and our action learning
programmes. TAA works across the UK and intemationally, with an extensive range of cultural and creative
organisations, academic partners. local authorities. funding bodies and policy-makers.
Values
People-cenlred.. We champion a people-centred approach as researchers, advisers and employers. We listen
to, and act on, the views of stakeholders, are respectful of differences, and embrace a diversity of voices.
Connected: We are committed to sharing knowledge and using our unique position to bring people together
to forge new conversations and collaborations. We thrive being at the intersection of relationships, both across
the sector and between organisations.
Trustworthy: We are transparent, rigorous, act with confidentiality. and are committed to quality in everything
we do. We strive to build trust in all our stakeholder relationships.
Beneficiaries of our service
Our work directly supports cultural organisations. agencies and practitioners to engage more effectively with the
general public, particularfy to reach new or less*ngaged groups. We also support community organisations
with cultural strategy and work with local. national and intemational policymakers to improve the conditions for
engagement. We provided a resour￿ or service to over 1.200 cultural organisations in the period.
We remain committed to being accessible to the widest variety of arts and cultural organisations and have
developed our business model to enable us to 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 ￿ntres, perfomiing arts companies. galleries, orchestras,
outdoor festivals and site-specific producers, participatory arts, museums, heritage organisations and local
authorities.
We continue to develop our work to support those at the forefront of the stand against inequality, those
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
promoting diversity and grassroots community initiatives.
Our Activities & Impacts
In 2023124 The Audience Agency generated its income from three main sources:
Public (grant) funding. Funding from two main SoUr￿S (Creative Scotland and Arts Council Wales) plus
some transition funding from Arts Council England enabled TAA to continue to develop Audience Answers,
a national audience data and development plaffom, which collects and shares audience data from over 700
cultural organisations. and to provide a wrap-around customer service.
It also enabled us to provide free vital. reliable intelligence (dats 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 source of income made up about 27 % of the total Group income.
Bespoke consultancy and research services. Our nationwide team of specialists developed and delivered a
range of user-centred, research-infomied projects for and in conjunction with cultural sector organisations.
This source of income made up about 48 % 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 10 % 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 80/0 of the total income.
A merger with Culture 24 during the year also generated income of 7Q/o 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 organisations and policyTnakers tackle a wide variety of barriers to the arts and culture - such
as the lack of relevance, affordability, user-v01￿ 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, a range of action research projects,
often promoting an audience- or participant-centred design approach.
Achievements and Perfomiance
At the start of 23124, The Audien￿ Agency adopted a revised business plan as a result of the disinvestment
from Arts Council England. The three strategic options being considered were:
To actively pursue external private investment andlor further international sales to continue to develop the
Audience Finder Platform for both the UK and the intemational market.
To adapt the free Audience Finder service into a new paid for (commercial) service, with an enhanced
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
range of tools and ServI￿S to support the sector.
To reduce in size and scope and move to a consultancy and research organisation only.
The Board had agreed that 2023124 would be a transition year for The Audience Agency (TAA), with the aim
that by the end of the year, the organisation would have a clear strategy for the future. with an appropriate
business model and organisational structure to support that. Therefore the first quarter of the year enabled TAA
to embark on a "Strategic Enquirf to allow for the exploration of new avenues and opportunities.
We wanted to understand where our assets could bring most benefit to our beneficiaries, which gaps they need
to fill. and how they should be configured to do so. Our aim was to look to prioritise activities where we could
have an exponential effect as well as extend our advocacy role through participation in policy work.
During the first half of the year, we recognised that we were not going to be successful in attracting the
necessary level of investment to pursue the development of Audience Finder for the international market at this
stage. We therefore reduced the scale and scope of product development to enable us to focus the TAA
resources on completion of the UK paid-for product. We were able to launch a comprehensive, completely
redesigned "Audience Answers"
a subscription-based offer (with some free services) to replace Audience
Finder.
The bespoke consultancy and research offer adapted to changes in positioning and pipeline. By the end of
23124, we had developed more differentiated offers for the UK market, built around five 'pillars':
Audience Development and Participation
Evaluation and Impact
Creative Economy
Creative Places
Digital Transformation
Some Highlights of the year are:
We delivered 36 free events (webinars and training sessions. and TEA Break (Thinking Evidence and
Audience events). attracting almost 2,000 attendees.
Our Summer 2023 wave of the 'Cultural Participation Monitorf provided the sector with new. original
knowledge on range of factors affecting if and how aUdIen￿S interact with live cultural event venues.
including their social and environmental values. behavioural expectations. cost of living concerns, and
comfort with online screening options.
We were commissioned to deliver 196 research and consultsncy projects in 2023124. These included
numerous project commissions for National Lottery Heritage Fund Development Framework for evaluation.
Historic England commissioned two projects" Knowing the Sector and the Taxonomy of Cultural and
Heritage Capital Services. For the British Library, we were commissioned to deliver evaluation for the
exhibition Fantasy and Black British Music, and for UNESCO we secured Local to Global an audien
development and stakeholder mapping programme. In addition we continued our work with Brilish Council
across four projects, evaluation of their Creative Commissions programme and the Spotlight on Culture
UKIFrance 2024; began work on supporting the arts learning programme for a festival of learning and
continues our work on inclusive growth through a services of essays.
The Audience Agency is collaborating with The University of Leicester on an Artificial Intelligen￿ project
funded through Innovate UK'S Knowledge Transfer Partnership P) scheme. This partnership involves
the Institute for Digital Culture and the University of Leicester School of Business.
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
We also continued Ihe foundation partner of the Centre for Cuttural Value at University of Leeds (a project
funded by AHRC, Arts Council England and Paul Hamlyn Foundation.
There were also a number of changes in year to the structure and shape of TAA. This model was strengthened
through a merger in year with Culture 24. Like TAA, they were an independent charity and a Sector Support
Organisation until April 2023 and lost their Arts Council England funding at the same time as TAA. This merger
supported the strategy by helping develop a more distinctive °digital offerf. our training capacity, and general
credibility. TAA also acquired assets both tangible (products and reserves) and intangible (replicable methods of
delivery, partnerships). As a result of the merger. 3 members of staff were transferred into TAA under TUPE
regulations.
This transition to a new Business Model unsurprisingly had an impact on our financial performance. Reduced
income expectations required TAA to make in-year savings, largely in staff. Altogether 16 posts were taken out
of the structure, through a mixture of redundancy and natural turnover. In addition, we became an entirely
remote organisation during the year, moving out of both our London and Manchester offi￿S.
Plans for the future
During the first quarter of 24125. a new tK)tential model is emerging, a "virtuous circle" in which TAA delivers
mission-critical independent research which is augmented and amplified through networks, partnerships, "in-
field" application through projects and servI￿s. and TAA'S data tools.
We are working towards seeking fonnal IRO (Independent Research Organisation) status. which will allow us to
apply independently for academic funding (eg UKRI, Horizon Europe). This, alongside the sale of client
research and strengthened data tools will enhan￿ that model.
*pOiEd
rth
(re￿Ity
24125 is the first year where TAA'S business model with less than 10% regular funding. The
organisation has to balance the need for caution in the short term with making strategic decisions
which move TAA towards its longer-term goal.
Financial review
For the financial period 2023124. the total group income was £2.65m, an approximale 22 /0 decrease over the
previous financial year. This reduction in income was matched by a reduction in expenditure to £3.12m. This
was a 18 % reduction over the previous year.
The deficit in year was therefore £474k.
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Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
Some of the deficit was due to the reduction of Arts Council Funding but eamed income for both consultancy
and sales of products was also reduced.
We also restructured during the year. Product development activity and some associated staff were moved from
the subsidiary (TAAS) into the charity (TAA) with effect from 1 April 2023. The AFG asset was bought by TAA
from TAAS on 31 August 2023 at a value of £138k.
The Group reserves at the end of March 2024 were £466k.
Reserves policy
The Board's policy on reserves is to target a reserve 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 Servi￿ to the sector.
At the period end, total unrestricted reserves were £466k which included £209k of fixed assets. Free reserves
were therefore £257k. Our most recent calculation is that three months, running costs is approximately £600k.
The aim is to build these reserves back up to previous levels.
Risk Management
The Board regularly reviews and assesses the risks to which TAA may be exposed. A risk register identifies
those risks and actions agreed to mitigate them. Each Board meeting highlights the key issues and risks facing
each of the Business Units and for TAA as a whole.
The current identified high-level risks..
RISK
Weak Cash flow
Data products and tools doesny generate
(sufficient)
income
to support
continued
develo
ment
Uncertain
environment
Insufficient capacity or capabilitylloss of skills
MITIGATION
Weekl
cash review
Sales capacity increased with a clear sales
strategy and priorities.
cultural
and
creative
sector
Close monitoring marketing strategyl focused
business develo
ment
Continuous review of priorities
Flexible resourcing options
Focus on wellbein
and flexible workin
ractices
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 govemed by its Memorandum and Articles of Association.
The companls object is the promotion of the arts for public benefit by the provision of advi￿, support and
information. and the provision of support Servi￿S.
The governing body is the Board whose members are non-executive and unpaid. They meet regularly and
retain full and effective control over the Company and monitor the Executive team. The Board is involved in
major strategic decisions and has ultimate responsibility for the conduct and financial stability of TAA.
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
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 2024, the Board comprised seven people. We are currently in the
process of recruiting new Trustees and a new Chair. and have advertised the roles publicly.
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 govemed. Other documents provided to new Trustees
include previous accounts, the Business Plan and Charity Commission guidance. New Truslees are also
partnered with one of the Executive team so that they can get a rn0￿ detailed understanding of the organisation
and its activities.
On an ongoing basis, Trustees are encouraged to attend appropriate extemal 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.
Organisational Structure
The organisational 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 relevance of the information provided
to the Board meetings by members of the Executive Team.
The Board has estsblished a Finance 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 organisation 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 servI￿s is a wholly owned subsidiary of the company and was established originally to
manage a print distribution service in the North West of England.
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 Audien￿ Agency for the purposes of company law) are responsible
for preparing the trustees, annual report and the financial statements in accordan￿ with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charitable 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
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2024
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 it is inappropriate to presume that
the charity will continue in operation
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charitsble group and enable them to ensure that the financial statements
comply with the Companies Act 2006, They are also responsible for safeguarding the assets of the charitable
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 infomiation of which the charitable company's
auditors are unaware.
The trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable companrfs website. Legislation in the United Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in otherjurisdictions.
Auditors
Cooper Parry Group Limited continued as the charitable companls auditors in 2023124.
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:
Siyned by..
52B5E5A636FD49D..
R Paterson
Chair of Trustees
Date:20 December 2024
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY
Opinion
We have audited the financial statements of The Audience Agency (the 'parent charitable company'l and its
subsidiary {the 'group') for the year ended 30 March 2024 which comprise the Consolidated Statemenl of
Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheel, the Consolidated Statemenl 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 Accounling
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (Uniled Kingdom Generally AC￿pted Accounting Practice).
In our opinion the financial statements-
give a true and fair view of the state of the Group's and of the parent charitable companys affairs as at 30
March 2024 and of the Group's incoming resources and application of resources, including its income
and expenditure for the year then ended.
have been properly 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 accordance with Intemational Stsndards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs 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 concern
In auditing the financial ststements, we have concluded that the Trustees, use of the going concem 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 thal. individually or collectively. may cast significant doubt on the Group's or the parent charitable
company's ability to continue as a going concem for a period of at least twelve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial
statements and our Auditorfs Report thereon. The Trustees are responsible for the other information conlained
within the Annual Report. Our opinion on the financial statements does not cover the other information and.
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the course
of the audit, or otherwise appears to be materially misstated. If we idenlify 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 perfomied. we conclude
thal there is a material misstatement of this other infomation, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the infomation given in the Trustees. Report for the financial year for which the financial statements are
prepared is consistent with the financial statements.
the Trustees, Report has been prepared in accordan￿ with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained 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 accounting records, or retums
adequate for our audit have not been re￿iVed 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 infomiation 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 Report.
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THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY (CONTINUED)
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Slaternent, the Trustees (who are also the directors of
the charitable company for the purposes of company law) 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 to fraud or emr.
In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent
charitable companWs abilily lo continue as a going concern, disclosing, as applicable, matlers related to going
concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the
Group or the parent charitable company or to ￿ase operations. or have no realistic altemative but to do so.
Auditorfs responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Audito¢s 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 (UK) will always detect a material misstatement 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 to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities.
including fraud is detailed below-
Our assessment focussed on key laws and regulations the Group and parent charitable company has to comply
with and areas of the financial statements we assessed as being more susceptible to misstatement. These key
laws and regulations included bul were not limited to 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, including fraud. Our approach to detecting irregularities.
including fraud. included, but was not limited to. 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 underlying documentation and other evidence,.
obtaining an understanding of the Group and parent charitable companls control environment and how the
Group and parent charitable company have applied relevant control procedures, through discussions with
management and by perfomiing walkthrough testing over key areas.,
obtaining an understanding of the Group and parent charitable companls risk assessment process,
including the risk of fraud.
reviewing meeting minutes of those charged with g0Veman￿ throughout the year., and
performing audit testing 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 of fraud based on our approach. Irregularities arising from fraud are inherently more
difficult to detect than those arising from error.
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Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE AUDIENCE AGENCY (CONTINUED)
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 Complian￿ with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-cotnpliance.
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 at: www.frc.o
.ukJauditorsres
onsibililies. This description forms part of our
Auditor's Report.
Use of our report
This report is made solely to the charitable companws members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006, and to the charitable companls trustees, as a body, in accordance with
Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that
we might state to the charitable companys members those matters we are required to state to them in an
Auditor's Reporl and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume
responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for
this report, or for the opinions we have formed.
Glen Bott FCA (Senior Statutory Auditor)
for and on behalf of
Cooper Parry Group Limited
Statutory Auditor
Cubo Birmingham
Office 401
Two Chamberlain Square
Binningham
B3 3AX
Date:20 December 2024
Page 12

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 MARCH 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
178.378
1,830,700
209.878
824
178,378
2,261,970
209,878
824
431,270
3,000,693
280,627
1,091
118,988
other income
22
22
Total income
2.219.802
431.270
2.651,072
3,401,399
Expenditure on:
Raising funds
Charitable activities
208.472
2,349,511
208,472
2,917,227
1,085,393
2,738, 157
567,716
Total expenditure
2,557,983
567,716
3,125,699
3,823,550
Net expenditure
Transfers between funds
{338,181)
{136.446)
{136,446)
136,446
(474,627)
(422, 151)
21
Net movement in funds
{474.627)
(474,627)
(422, 151)
Reconciliation of funds:
Total funds brought fO￿ard
Net movement in funds
940.800
{474.627)
940,800
(474,627)
1,362,951
(422, 151)
Total funds carried forward
466.173
466,173
940, 800
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 17 to 40 fonm part of these financial statements.
Page13

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
REGISTERED NUMBER: 08117915
CONSOLIDATED BALANCE SHEET
AS AT 30 MARCH 2024
2024
2023
Note
Fixed assets
Intangible assets
Tangible assets
14
197,223
11,686
250,000
18,426
15
208,909
268,426
Current assets
Debtors
17
457.960
350.371
733, 801
675,393
Cash at bank and in hand
808.331
1,409, 194
Creditors.. amounts due within one year
18
(551,067)
(731, 595)
Net current assets
257,264
677,599
Total assets less current liabilities
466,173
946,025
Creditors: amounts due after one year
19
(5,225)
Total net assets
466,173
940,800
Charity funds
Unrestricted funds
21
466.173
940,800
Total funds
466,173
940,800
The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by-
R Paterson
Chair of Trustees
Date:
52B5E£A636FD¢SD
20 December 2024
The notes on pages 17 to 40 fonm part of these financial statements.
Page 14

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
REGISTERED NUMBER: 08117915
CHARITY BALANCE SHEET
AS AT 30 MARCH 2024
2024
2023
Note
Fixed assets
Intangible assets
Tangible assets
Investments
14
197,223
9,812
15
14,458
250,001
16
207,036
264,459
Current assets
Debtors
17
448.706
235,408
657,971
597, 762
Cash at bank and in hand
684.114
1,255, 733
Creditors.. amounts due within one year
18
(470,879)
(519, 686)
Net current assets
213,235
736,047
Total assets less current liabilities
420,271
1,000,506
Creditors" amounts due after one year
19
(5,225)
Total net assets
420,271
995,281
Charity funds
Unrestricted funds
21
420,271
995,281
Total funds
420.271
995,281
The Charity's net movement in funds for the year was (£575.010) (2023- (£143,967)).
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordan￿ with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
SvJTrEdtrf.
R Paterson
Chair of Trustees
Date:
5285E5A636FD490
20 December 2024
The notes on pages 17 to 40 form part of these financial slatements.
Page15

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 MARCH 2024
2024
2023
Nole
Cash flows from operating activities
Net cash provided by operating activities
23
(68,890)
235, 769
Cash flows from investing activities
Net purchaselsales of intangible assets
Purchase of tangible fixed assets
14
(187,860)
(4,088)
(359, 161)
(9,819)
15
Net cash used in investing activities
(191,948) {368,980)
Cash flows from financing activities
Repayments of borrowing
(64,184)
(55,591)
Net cash used in financing activities
(64,184)
(55,591)
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
(325,022) {188,802)
675,393
864, 195
Cash and cash equivalents at the end of the year
24
350,371
675,393
The notes on pages 17 to 40 fonm part of these financial statements
Page 16

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
General information
The Audience Agency is a private company, limited by guarantee, incorporated in England and Wales
(08117915). The principal address of the group is The Whitehouse, Wilderspool Business Park.
Greenalls Avenue, Stockton Heath, Warrington. W A4 6HL.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements are prepared in Sterling (£) which is the functional currency of the Charity.
The financial statments are for the year ended 30 March 2024 (2023: year ended 30 March 2023).
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) 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 (SOFA) and Consolidated Balance Sheet
consolidate the financial statements 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 its own Statement of Financial Activities in these financial statements.
The parent charity made a deficit of £575.010.
2.2 Going concem
At the time of approving these accounts. the Board have considered revised financial forecasts for
the current and proceeding financial year. They have considered the risks and opportunities for the
Group's trading.
They recognise there are current funding shortfalls but consider that the action being taken by The
Audience Agency will be sufficient to continue trading for at least twelve months.
On that basis. the trustees have prepared these financial statements on a going concern basis.
Page 17

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Accounting policies (continued)
2.3 Income
All income is recognised once Ihe Charity has entitlement to 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 re￿1vable basis. The
balance of income re￿iVed for specific purposes but not expended during the period is shown in the
relevant funds on the Balance Sheet. Where income is ￿ ceived 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 it is receivable and to the extent the goods have
been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
setllement 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 atlributable to 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 between those
activities on a basis consistent with the use of reSoUr￿s. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the assel'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 services and facilities
Donated professional services 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 receipl of
economic benefit from the use by the charity of the item is probable and that economic benefit can
be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is
not recognised. refer to the trustees, 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 to
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 langible fixed assets are credited to the Consolidated Slatement of
Financial Activities and held in reserves, depreciation is charged over the expected useful lives of
the assets concerned. Other grants are credited to the Consolidated Stalemenl of Financial
Activities as the related expenditure is incurred.
Page 18

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Accounting policies (continued)
2.7 Intangible assets and amortisation
Intangible assets are capitalised and recognised when future economic benefits are probable and
the 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 capitalised, classified as an asset on the balance sheet
and amortised on a straight line basis over its useful life. The period chosen for wriling off goodwill
is three years. Provision is made for any impaimient.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on
a straight-line basis over its expected useful life.
Amortisation is provided on the following bases-
Data assets
Computer software
33°
33°
2.8 Tangible fixed assets and depreciation
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 at cost less accumulated depreciation and any accumulated
impairment losses. All costs incurred to bring a tangible 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 straight-line method.
Depreciation is provided on the following basis-
Office equipment
Computer equipment
20°/0
33°/0
2.9 Investments
Programme related investment is an amount equal to the capital contribution provided to the trading
subsidiary to develop an intangible 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. At the year
end this asset has been transferred to the charity.
Investments in subsidiaries are valued at cost less provision for impairment.
Page19

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Accounting policies (continued)
2.10 Debtors
Trade and other debtors are recognised at the settlernent amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-temi 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 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at 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 at 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 Activities as a
finance cost.
2.13 Financial 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 at their settlement value with the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.14 Operating leases
Rentals paid under operating leases are charged to the Consolidated Statement of Financial
Activities on a straight line basis over the lease temi.
2.15 Pensions
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.
Page 20

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Accounting policies (continued)
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtheran￿ 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 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 to the financial statements.
2.17 Redundancy I temination payments
All redundancy and termination payments are recognised within the year.
Critical accounting estimates and areas of judgment
The Trustees make estimates and assumptions conceming the future. They are also required to exercise
judgement in the process of applyng the Group's accounting policies. Estimates and judgements are
continually evalualed and are based on historical experience and other factors, including expectations of
future events that are believed to be reasonable under the circumstances.
The estimates and assumptions that have a significant risk of causing a material adjustment to the
carrying amounts of assets and liabilities within the next financial year are addressed below.
3.1 Impairment of fixed assets
The Group assesses the impairment of tangible fixed assets and intangible assets subject lo amortisation
or depreciation whenever events or changes in circumstances indicate that the carrying value may not be
recoverable.
Factors considered important that could trigger an impaimient review include the following-
Significant Underperforman￿ relative to historical or projected future operating results-
Significant changes in the manner of the use of the acquired assets or the strategy for the overall
business., and
Significant negative industry or economic trends.
3.2 Depreciation, amortisalion and residual values
The Trustees have reviewed the asset lives and associated residual values of all fixed asset classes and
have concluded Ihat asset lives and residual values are appropriate.
The actual lives of the assets and residual values are assessed annually and may vary depending on a
number of factors. In assessing asset lives, factors such as technological innovation and maintenance
programmes are taken into account. Residual value assessments consider issues such as future market
conditions, the remaining life of the asset and projected disposal values.
Page 21

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Income from donations and legacies
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Donations
178,378
178,378
Income from charitable activities
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Major stakeholders and funders
Arts Council England
Arts Council Wales
431,270
431,270
79,608
200,075
763,800
79,608
249,968
79,608
200,075
Creative Scotland
Subtotal for major stakeholders and
funders
Bespoke Services
Consultancy and Research
279,683
431,270
710,953
1,093,376
1.277,243
1,277,243
1,541.443
Subtotsl for bespoke services
Packagelprogramme income
Audience spectrum licensing
Enhanced dashboards
1.277,243
1,277,243
1,541.443
93,538
93,538
46,975
115,631
88,095
102,008
13,165
Package services
other services - groups
Showstats
135,033
38.668
6,535
135,033
38,668
6,535
Subtotal for packagelprogramme income
273,774
273,774
365,874
1.830,700
431,270
2,261,970
3,000, 693
Total 2023
2,236,893
763, 800
3,000, 693
There was an additional £136,466 received from Arts Council England which was recognised in The
Audience Agency Services Limited (2023: £nil).
Page 22

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Income from other trading activities
Income from non charitable trading activities
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Consultancy services
Other income
Arts Council England
71,494
1,938
136,446
71,494
1,938
136,446
264,381
16,246
209,878
209,878
280,627
All income from other trading activities in the prior year was unrestricted.
Other incoming resources
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Research and development tax credit
22
22
118,988
All income from other incoming resources in the prior year was unrestricted.
Page 23

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Expenditure on raising funds
Trading subsidiary expenses
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Cost of sales
6,005
62,625
139,842
6,005
62,625
139,842
144, 125
615,087
326,181
Administration expenses
Staff costs
208,472
208,472
1,085,393
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Total
funds
2024
Total
funds
2023
Advice and assistan
2,917,227
2,917,227
2, 738, 157
Page 24

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
Analysis of expenditure by activities (continued)
Analysis of direct costs
Advice &
assistance
2024
Total
funds
2024
Total
funds
2023
Staff costs
2,090,313
53,504
331,587
327,093
57,025
25,871
18,000
13,834
2.090,313
53,504
331,587
327,093
57,025
25,871
18,000
13,834
1, 797,343
7,940
280,318
397, 784
83,071
73,718
14,800
83,183
Depreciation and amortisation
Programme cost
Bespoke overheads
Offi￿, travel and training costs
Rent and rates
Governance
Website and IT
2,917,227
2,917,227
2, 738, 157
Total 2023
2,738, 757
2,738, 157
The above expenditure is split £567,716 {2023: £763.800) restricted expenditure and £2.349,511 (2023..
£1,974,357) unrestricted expenditure. G0Veman￿ costs include audit remuneration of £18,000 (2023..
Governance costs include audit remuneration of £14.800.
10.
Auditorfs remuneration
2024
2023
Fees payable to the Charitys auditor for the audit of the Charitys annual
accounts
18,000
14,800
Page 25

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
11.
Net income
Net income is stated after charging:
2024
2023
Depreciation of tangible fixed assets
Amortisation of intangible fixed assets
Auditor's remuneration
10,828
101,533
18,000
139,104
9,837
314,392
14,800
259,451
14,077
Impairment of intangible assets
Operating lease rentals
Impairment loss is included within charitable activities. The impairment charge is due to the So￿are
being transferred between the entities or the value that the remaining contract was expected to generate.
12. Staff costs
Group
2024
Group
2023
Charity
2024
Charity
2023
Wages and salaries
Social security costs
Pension cost
1,958,060
209.929
62.166
1,852, 106
214,837
56,581
1,845,251
189,689
55,373
1.566, 176
184,410
46,757
2,230.155
2, 123,524
2,090,313
1,797,343
During the year. 7 employees received statutory redundancy payments totalling £22.112 (2023: 1
employee received £1.235).
The average number of persons employed by the Charity during the year was as follows:
Group
2024
Group
2023
Administrative staff
56
60
Page 26

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
12. Staff costs (continued)
The number of employees whose employee benefits (exciuding employer pension costs) exceeded
£60,000 was:
Group
2024
Group
2023
In the band £60,001- £70,000
In the band £70,001- £80,000
The total employee benefits of the key management personnel of the charity were £473,861 {7 people)
(2023.. £508,249 (8 people)).
Page 27

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
13.
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 30 March 2024. expenses totalling £nil were reimbursed or paid directly to no
Trustees (2023 - £nil to no Trustees).
14. Intangible assets
Group
Computer
software
Data assets
Total
Cost
At 31 March 2023
338.360
1,382,735
187,860
1,721,095
187,860
Additions
At 30 March 2024
338.360
1,570,595
1,908,955
Amortisation
At 31 March 2023
338,360
1,132,735
101,533
139,104
1,471.095
101,533
139.104
Charge for the year
Impairment charge
At 30 March 2024
338.360
1,373,372
1,711,732
Net book value
At 30 March 2024
197,223
197,223
At 30 March 2023
250, 000
250,000
Page 28

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
14.
Intangible assets {continued)
Charity
Computer
software
Data assets
Total
Cost
At 31 March 2023
338,360
338,360
241,993
Additions
241,993
At 30 March 2024
338,360
241,993
580,353
Amortisation
At 31 March 2023
338.360
338,360
44,770
Charge for the year
44,770
At 30 March 2024
338.360
44,770
383,130
Net book value
At 30 March 2024
197,223
197,223
At 30 March 2023
Page 29

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
15.
Tangible fixed assets
Group
Office
equipment
Computer
equipment
Total
Cost or valuation
At 31 March 2023
34.173
111,431
4,088
145,604
4,088
Additions
At 30 March 2024
34.173
115,519
149,692
Depreciation
At 31 March 2023
30.205
2.094
96,973
8,734
127,178
10,828
Charge for the year
At 30 March 2024
32.299
105,707
138,006
Net book value
At 30 March 2024
1.874
9,812
11,686
At 30 March 2023
3,968
14,458
18,426
Page 30

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
15.
Tangible fixed assets (continued)
Charity
Office
equipment
Computer
equipment
Total
Cost or valuation
At 31 March 2023
27.888
111,431
4,088
139,319
4,088
Additions
At 30 March 2024
27.888
115,519
143,407
Depreciation
At 31 March 2023
27.888
96,973
8,734
124,861
8,734
Charge for the year
At 30 March 2024
27.888
105,707
133,595
Net book value
At 30 March 2024
9,812
9,812
At 30 March 2023
14,458
74,458
Page 31

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
16.
Fixed asset investments
Investments
in
subsidiary Programme
companies
investment
Total
Charity
Cost or valuation
At 31 March 2023
1,382,776
1,382,777
(1,382,776) (1,382,776)
Disposals
At 30 March 2024
At 31 March 2023
1,132,776
1,132,776
52,084
52,084
(1,184,860) (1,184,860)
Charge for the year
Impairment on disposals
Net book value
At 30 March 2024
At 30 March 2023
250, 000
250,001
Principal subsidiaries
The following were subsidiary undertakings of the Charity:
Names
Company
number
Holding
Included in
consolidation
The Audience Agency Services Limited
06994989
100°/o Yes
The financial results of the subsidiaries for the year were-
Names
Income
Expenditure
Loss for the
year
The Audience Agency Services Limited
207,962
(357,579)
(149,617)
The Audience Agency Services Limited had net assets of £45.903 at 31 March 2024.
Page 32

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
17. Debtors
Group
2024
Group
2023
Charity
2024
Charity
2023
Due within one year
Trade debtors
346.849
397,433
346,849
372,232
147,777
62,516
75,446
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
56.371
54.740
260,922
75,446
47,117
54,740
457.960
733,801
448,706
657,971
Page 33

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
18.
Creditors: Amounts falling due within one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Unsecured bank loan
Trade creditors
5.225
123.427
125,640
16.666
54,018
226.091
64,184
181,929
114,160
9, 629
52,032
309, 661
5,225
120,947
125,640
16,666
53,762
148,639
64,184
131,875
114,160
9,629
39, 124
160,714
Other taxation and social security
Other creditors
Accruals
Deferred income
551.067
731,595
470,879
519,686
Group
2024
Group
2023
Charity
2024
Charity
2023
Deferred income at 31 March 2023
Resources defe￿ed during the year
Amounts released from previous periods
309,661
226.091
(309,661)
392,893
160,714
309, 661
148,639
(392,893) (160,714)
300,285
160,714
(300,285)
226.091
309, 661
148,639
160,714
Deferred income relates to income re￿iVed for projects not yet completed.
19.
Creditors: Amounts falling due after more than one year
Group
2024
Group
2023
Charity
2024
Charity
2023
Unsecured bank loan
5,225
5,225
Page 34

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
20.
Financial instruments
Group
2024
Group
2023
Charity
2024
Charity
2023
Financial assets
Financial assets measured at fair value
through income and expenditure
350.371
675,393
235,408
597, 762
Group
2024
Group
2023
Charity
2024
Charity
2023
Financial liabilities
Financial liabilities measured at fair value
through income and expenditure
5,225
69,409
5,225
69,409
Financial assets measured at fair value through income and expenditure comprise cash at bank and in
hand.
Other financial liabilities measured at fair value through income and expenditure comprise unsecured
bank loan.
Page 35

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
21. Statement of funds
Statement of funds - current year
Balance at
31 March
2023
Balance at
30 March
2024
Transfers
inlout
Income Expenditure
Unrestricted funds
Charity funds
Subsidiary reserves
995.281
(54.481)
2.011,840
207.962
(2,450,404)
(107,579)
(136,446)
420,271
45,902
940.800
2.219.802
(2,557,983)
(136.446)
466,173
Restricted funds
Arts Council England
431,270
(567,716)
136,446
Total of funds
940.800
2.651,072
(3,125,699)
466,173
Arts Council England this is money received from Arts Council England to deliver the Transition Fund
activity-
Page 36

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
21. Statement of funds {continued)
Statement of funds - prior year
Balance at
30 March
2022
Balance at
30 March
2023
Income Expenditure
Unrestricted funds
Charity funds
Subsidiary reserves
1. 139,309
223, 642
2, 254,230
383,369
(2,398,258)
(661,492)
995, 281
(54,481)
1,362,951
2, 637,599
(3,059, 750)
940, 800
Restricted funds
Arts Council England
763,800
(763,800)
Total of funds
1,362,951
3,401,399
(3,823,550)
940, 800
22.
Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted
funds
2024
Total
funds
2024
Tangible fixed assets
Intangible fixed assets
Current assets
11,686
11,686
197.223
197,223
808,331
808,331
(551.067) {551,067)
Creditors due within one year
Total
466.173
466,173
Page 37

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
22.
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
18,426
250, 000
1,409, 194
(731, 595)
(5, 225)
18,426
250,000
1,409, 794
(731,595)
(5, 225)
Total
940, 800
940, 800
23.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
2024
Group
2023
Net expenditure for the period (as per Statement of Finanaal Activities)
(474,627)
(422, 751)
Adjustments for:
Depreciation charges
Amortisation charges
Impairment charges
Decrease in debtors
10,828
101,533
139,104
275,841
(121,569)
9,837
314,392
259,451
179,279
(105,039)
Decrease in creditors
Net cash provided byl(used in) operating activities
(68,890)
235, 769
Page 38

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
24.
Analysis of cash and cash equivalents
Group
2024
Group
2023
Cash in hand
350,371
675,393
Total cash and cash equivalents
350,371
675,393
25. Analysis of changes in net debt
Other non-
cash At 30 March
changes
2024
At 30 March
2023 Cash flows
Cash at bank and in hand
675,393
(64,184)
(5.225)
(325,022)
64,184
350,371
(5,225)
Debt due within 1 year
Debt due after 1 year
(5,225)
5.225
605,984
(260,838)
345,146
26.
Pension commitments
The group operates a 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 £9,522 (2023 - £10,062) was payable to
the fund at the balance sheet date and are included in creditors.
Page 39

Docusign Envelope ID.. 40EDEOF5-6E6440FE-A7A9-8647A6EDDA2C
THE AUDIENCE AGENCY
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024
27.
Related party transactions
There are no donations from related parties which are outside the normal course of business and no
restricted donations from related parties.
No trustee 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 year (2023- £nil).
During the year the charity recharged The Audience Agency Services £10,003 {2023.. £150,000) in
respect of admin and support costs. At the year end the charity was due £nil (2023.. the charity owed
£147,777). On the 31 August 2023 The Audience Agency purchased the intangible asset (software) from
The Audience Agency Services limited for £138,000.
Trustees are appointed to the board primarily for the skills, experience and knowledge thal they bring to
the organisation. Such individuals are likely to hold other directorships or work within the sector for
organisations that may have links with The Audience Agency or its subsidiary The Audien￿ Agency
Services Limited.
Page 40