Reglstered number- 08165798 Charlty numbèr: 1152672 VOICE 21 LTD (A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 VOICE 21 LTD IA Company Llmlted by Guarantee) CONTENTS Page Reference and Administrative Details of the CoTnpany, its Trustees and Advisers Chair & Chief Exe¢ulive Statement Trustees, Report 3-15 Trustees. Responsibilities Statement 16 Independent Audltors. Report on the Financial Statements 17-20 statement of Finan¢ial Activities 21 Balance Sheet 22-23 Notes to the Financial Ststements 24-38 VOICE 21 LTD IA Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, IT5 TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2022 Trustees S C David, Chair S P Coyle P J Hyman MCJKeane S J Kaiser, Chair of People Committee K Modasia. Chair of Finance Committee M J Sealy Company registered number 08165798 Charity roglstered number 1152672 Registered office School 360 Sugar House Lane Slratford London England E15 2KIB Independent auditors Haslers Chartered Accountants Old Station Road Loughton Essex IG10 4PL Page 1 VOICE 21 LTD (A Company Limttgd by Guarantee) INTRODUCTION FROM THE CHAIR & CHIEF EXECUTNE FOR THE YEAR ENDED 31 AUGUST 2022 In 2021, as we emerged from the pandem￿, Voice 21 launched a new fNe-year strategy w*lh four strategic goals". Goal 1." To grow our annual reach lo 2000 Sch¢￿1$ and 800,000 students by 2025. Goal 2.. To consistently focus our work on those that need us most. Goal 3.. To anable long-terni, whole-school change through our Voice 21 Oracy Schools, membership network. Goal 4.. To understand the difference we are making and use that understanding lo make more of a drfference Over 21r22 we have made impressive progres5 against these goals - doubling our no￿rk of Voice 21 Oracy schools nalionalty and reaching new areas and new types of school. With the legacy of Covid 19 particularly impacting the progress of students from economically di5advanlaged and underserved backgrounds. we have increasad the proportion of schools serving Ihese students wthin our rnembership and through the development of our programmes and resources generated deeper and more pervasive impact in our schools. CnJcially, through investing in how we learn about our impact, researching and innovating new Nvays of developing students, speaking and listening skills, and dissecting how teachers and schools chan9e through our work we have positioned evidence and expertise as the engine of Voice 21, driving our programme design and retationship with our member schtx>ls lo continualty impTove outcomes for students. As we grow our membership network, we have more opportunities to learn and mobilise this learning back into our schools. This year has also seen Voice 21 make big strides forward in our organisational development to promde the underpinning and platform for our ambitious goals. We have invested in the capacity and capabilities of our team and the technology and systems lo enable us lo operate at scale. In less than a yeaf since they were appointed. our Board of Trustees have become effective in supporting and ehallenging the Voice 21 Executive and have buiA robust governa￿e to safeguard ovr sustainability and unleash our polenlial. Thank you to all our funders and partners for their SLFPPOrt in 21122, especi￿ty the many hundreds of Voice 21 Oracy Schools across the country who invited us lo step into their schools, connect lo their Classrooms and engage with Iheir teachers and students. Our impact can only ever be as strong as their commitment lo empowering every child to use their voice lor su¢¢ess in schod and lrfè. S C David Dale.. 28 April 2023 Page 2 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2022 The Trustees present their annual report logether with the audited financial statements of the Company for the year 1 September 2021 to 31 August 2022. The Annual Report serves the purposes of bolh a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Praclice (SORPI applicable to charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS102} (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Obje¢tives and Activities Our rnission Voice 21 is the national oiacy education charity. We exist to empower every child to use their voice for success in school and life. Our work transforms learning and lrfe chances through talk by increasing access to a high-quality OTacy education for thos& that need it most. Oracy is the ability to articulate ideas, develop understanding and engage with others through spoken language ar)d listening. In school, oracy is a powerful tool for learning-, by teaching students to become more effective speakers and listeners we empower them to beller understand themselves, each other and the world around them. The need Voice 21 is the nalional oracy educatiOTJ charity. We exist to empower every child to use their voice for success in school and life. Our work transforms learning and life chances through talk by increasing access to a high-quality oracy education for those that need it most. Spoken language skills are one of the strongest predictors of a child's future life chances but too many children are not given the opportunity to develop these crucial skills. They start school already behind their more advantaged peers and left unaddressed, the gap grows rather than diminishes as students move through school. Despite the strong evidence thal effective verbal communication improves academi¢ outcomes, employment opportunities, civic engagement and confidence and wellbeing, the majority of state schools do not consistently or deliberately teach these vital skills. This impacts their learning in school and success in life beyond school. Page 3 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 It doesn't need to be this way. By transforming leaching and learning through lalk, schools can develop children's confidence. articulacy and capacity lo learn. Through a high-quality oracy education, children and young people learn how to express themselves and communicate clearly. They become able to explain ideas and emotions to other people, not only in a school setting but in their lives outside the classroom too. They develop the skills lo listen effectively, discuss and respond with meaning, and debate and disagree agreeably. They gain the confidence, self-belief, and courage to speak in public and share their thoughts, intellect and creativity with the world. Who vft support Voice 21 exists to setve Ihose children and young people who are least likely to develop the oracy skills they need to succeed in school and in life and are least likely to have access to a high-quality oracy education. We aim to work with schools with a greater proportion of economically disadvantaged students. Our measure for this is whether schools are in the lop 40 /0, when ranked by proportion of students eligible for Free School Meals (schools with >17Q/o FSM in 2021122)- This doesn't mean we won't work with schools falling outside this range we want to be able lo respond to the schools and students that need us most, whoever they are. Rather. we use this measure to inform planning and priorilisation to keep our mission at the heart of what we do. What we do To achieve our mission. Voice 21 crealing long temi impacts in teaching and learning in schools serving the most economically disadvantaged sludents. We do not provide on&day inset on pre-packaged lesson plans or arrange student workshops and extra-curricular debate clubs. Instead, we work in partnership with tÈachers and schools lo build their expertise, confidence and motivation to provide a high quality oracy education in their schools every day, for every child and young person. We achieve this by= Understanding and codifying what good oracy teaching and learning looks like and setting the standard for a high quality oracy education. Providing professional development and specialist school improvement support lo empower schools to provide their students wth a high-qualify oracy education. Focusing our work on those thal need us most by working with schools serving the least advantaged communities. Building awareness and convening cross sector support to raise the status of oracy in our education system. Our five-year strategy aims to deepen our impact on outcomes for Ihis generation of children and young people and those to come by significantly illcreasing the number of Voice 21. Page 4 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 OTacy Schools in areas of high need and mobilising a movemenl of leachers and schools committed to enabling all children and young people to benefit from a high-quality education. 2021-25 Strategy Overview To significantly increase access to a high-quality oracy education {SCALE}. in the areas Ihat need it most ffARGEn, through the provision of long-term. evidence-informed, context-driven teacher development and school improvement IWHOLE -SCHOOL CAPACITY BUILDING & CHANGE} and mobilising a movemenl of leachers and schools {NETWORK} lo make a tangible difference to the outcomes for this generation of children and young people and those to come {SUSTAINED IMPACT ON OUTCOMES}. strategic aims: To grow our annual reach to 800,000 students in 1900 schools by 2025. To consistently focus our work on those that need us most. To enable long-term, whole-school change through the Voice 21 Oracy Schools programme & network. To understand the difference we are making and use that understanding to make more of a difference. Priorities to achieve aims: 1. Attraction & retentlon: Recruit 3000 schools170Yo in target population) and retain 60 1. of school members year on year 2. Credibility & ¢onnectlon.' Grow and develop a highly effective team of national recognised oracy experts, regionally connected relationship managers and locally influential champions. 3. Qualily & consistency.. Facilitate a consistent, high-quality offer so every V21 Oracy School progresses to achieve our benchmarks. 4. Interaction & Insplration.. Empower our ne￿Ork to collaborate, connect and communicate their impact lo inspire the broader education community, influence changes in policy and attract investment. 5. Impact & innovation: Continually evaluate the V21 Oracy Schools offer - refining and rolling out changes that accelerale school and pupil progress and lead innovation to inform impact management & programme development. 6. Systems & structure: Align Voice 21's systems, finance, HR, information and digital infrastructure to focus on impacl outcomes. Strengthen leadership and operational capacity in relationship management, impact managemenl, income generation (marketing & philanthropy), people and performance management and financial planning and management. In setting objectives and planning for activities, Ihe Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a charity IPB2)'. Pag¢ 5 VOICE 21 LTD IA Company Limited by Guaranteè) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Achievements and Performance 2021122 was a year of growth, innovation, and connection. With the restrictions and disruption of the pandemic dissipating, the longer-term impact of school closures and lockdown on students, language, confidence and social and emotional skills emerged. As a result, schools increasingly identified oracy as a strategic priority to meet the needs of their studenls. This resLflted in a large increase in the number of schools committing to being 'Voice 21 Oracy Schools, nationally. We were also able to grow our reach in the communities and schools with the greatest need (with high numbers of students from economically disadvantaged backgrounds). 71 /0 of the schools we served in 2021122 had over 17 % of sludents eligible for free school meals placing them in the highest 40,10 for FSM eligibility nationwide, and we significantly increased our penetration in our target regions including the North West and Yorkshire and the Humber. Whilsl scaling our operations to meet increased demand for our support, Voice 21 continued to innovate. Working with technology partners, we piloted new ways lo assess oracy and measure student progress with promising results. We launched action research projects working with clusters of schools to understand the specific impact of oracy on vocabulary at key stages of children's educational journey and created new approaches and resources for language development in early years education. Vvith the relurn of school visits and face to face events and professional development, the Voice 21 Oracy Schools ne￿Ork came alive. From Dundee to Devon, Voice 21 facilitated collaboration, the exchange of knowledge and expertise and building connections around shared aims for oracy and aspirations for students. Through coming together at our first post-pandemic national conference, meeting on a development day, visiting a school for a oracy open house, participating in Oracy October or showcasing their oracy practice at the Great Oracy Exhibition, our school's network not only grew in scale but in impact demonstrating the value of school partnerships and unique role of Voice 21 as a convener and movement-maker. Al the forefront of Ihis movement are our first Oracy Centres for Ex￿llence, designated in 21122 in recognition of their sustained commitment to oracy education and the high quality of their provision at a whole-school level. To Se￿ice our increased scale and scope of operations, we invested in the growth of our Schools Team, Ihe development of systems and technology, maiketing and communications and research and evaluation. This was made possible through a subsiantial increase in income from both school memberships and grants and foundations from just over £1 million in 2020121 to over £2.2 million in 21122. Summary of achievements Growth in Voice 21 Oracy Schools Through our Voice 21 Oracy Schools, membership, we work in partnership with schools over sustained period to inspire long-lerm change, ensuring that those children who need it most have access lo a high-quality oracy education. Our blend of professional development, Page 6 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 consultancy, resources and community is underpinned by a whole school commitment to oracy, supporting schools to transform their teaching, curriculum and culture in order to ensure every child is empowered to find their voice for success in school and in life. In total, there were 605 Voice 21 Oracy schools in this year increasing from 321 in 20121. We trained 1403 teachers, and our WOTk directly impacted the education of 155,089 students. 710/0 of Voice 21 Oracy schools were in the top 400/0 of schools with the greatest proportion of students eligible for free school meals with the average FSM eligibility percentage in a Voice 21 Oracy School of 27,/4 compared lo 17 /0 nationally. Our highest proportion of schools are in the North West region1129 Voice 21 Oracy schools). Impact of Voice 21 Oracy Schools Voice 21 is an impact-led organisation. In 2021- 22 we received impact data from 12,313 stsff and 46,636 students in our member schools. 77Q/o of teachers said oracy had boosted attainment. 75 /0 of teachers said their students were more engaged in school. 900/0 of teachers said their students, oracy skills had improved. The insight5 we have generated from this large dataset have enabled us to iterate and refine our approaches, honing the support we provide to our schools to better empower them to transform teaching and learning through talk. In 21122. impact analysis from our Voice 21 Oracy Schools and research projects found that.. Oracy boosts attainment in readlng- an oracy-rich approach to vocabulary development can improve attainment in reading. Oracy increases student confidence- oracy boosts students, academic and social-emolional confidence. Oracy matters across subject domains- oracy isn't just for English teachers- empowering students to speak like specialists enhances outcomes across Ihe curriculum- yet. oracy expertise in secondary schools is disproportionately concentraled in the English department. Oracy education is crucial at transition - anxiety and nervousness in relation to speaking increase as students move to secondary school and so oracy education which can help students overcome this is particularly important at this stage of schooling. Oracy teaching enhances early language provision - explicit teaching of spoken language in the early years supports the development of communication and language skills. Oracy leadership requires professional development and support- confident oracy leaders make a tangible difference in their school, but Ihey require specialist, domain-specific leadership skills. Oracy can be assessed- Comparative Judgment- which relies on assessors making quick comparisons be￿een videos of student talk- is a reliable way to assess oracy. For details of our impact and insights in 21122 read our report.. Page 7 VOICE 21 LTD {A Company Limited by Guarantèe) TRUSTEES. REPORT ICONTINUÉDI FOR THE YEAR ENDED 31 AUGUST 2022 htt s'.Ilvoice21.or Iw contentlu loads120231011voice21-Im act-Re 0rt-2023-v21-web-1. df Influence In 21122, Voice 21 continued to provide the secretariat to the Oracy All-Party Parliamentary Group (APPG}. The APPG is an active group of cross-parly MPS and Lords Calling for changes in the education system to ensure every child receives their entitlement to a high-quality oracy education, including greater investment in teacher development for oracy and new non-stalutory guidance from the Department for Education. This year. members of the APPG tabled amendments lo the Schools Bill in the House of Lords to attempt to secure these changes, gaining support from within Parliament and from over 40 organisations pledging their backing for the proposals. Events In 21122 Voice 21 revived our programme of events and conferences. In the Autumn term, we held Oracy October our annual virtual Festival of Oracy with 1083 participants. In the Spring term, our Oracy Imperalive Conference in London attracted 250 delegates and high-profile speakers including President Obama's Speechwriter. In the Summer term, 400 teachers from schools across the UK gathered in Birmingham for our Great Oracy Exhibition. Financial Review Income 2019120 '. 2020121 2020121 Grant in¢ome' . £272k 393k 36/0 843k 380/0 School membership Incomè Total'income £651k 719/0 688k 64Q/o 1,400k 2.243k 1,774k 469k 62/0 £923k 1,080k 1,06Ok Expenditure Surplus £921k £2k 20k vol￿ 21's total income increased by £1,163k in 2021122 to £2,243k. Of this, 620/0 was income from the provision of oracy programmes commissioned by teachers, schools, local authorities and multi academy trusts, and 38 % was income from restricted and unrestricted grants. The primary driver of the significant year on year increase in income was a significant growth in school membership subscriplions of 103 % driven by high demand for our Voice 21 Oracy Schools membership. We a150 saw 1140/0 inereases in total grant funding as we continued to prioritise securing a higher proportion of giant funding than our long term target of 300/0 lo enable us to make capacity-building investments in line with our new strategy and enable us to scale. Page 8 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Fundraising In 2021122. Voice 21 received £843k in grant income from the following funders= Allan and Gill Gray Philanthropy Trust - Funding for four activities which are School portfolio management inlerface, Regional development of Hub Schools, The Voice 21 Oracy Institute and Student Outcomes Assessment Pilot. Allen & Overy Foundation- Grant for the provision of oracy programmes and support in schools in Tower Hamlets - Converted to core fLbnding in response to Covid-19 pandemic. The Big Ask - Funding a dedicated drive to improve Students, oracy in 'cold-spots' North-East, Yorkshire & Humber and East Midlands ensuring our support reaches an additional 138,779 students that need it most. Big Change - Oracy Network Grant - to fund the development of the coalition for oracy (the Oracy Network) and research and support to inform the All Party Parliamentary Group on Oracy's Stage of Speaking Inquiry. The Dulverton Trust - Funding for a bNO-year action research project (Voicing Vocabulary) lo improve vocabulary in Key Slage 2 and 3 students through a cross-pha5e approach to oracy in secondary and primary feeder school clusters in Leicester, the Black Country and Pendle. Fidelity UK - Funding for Technology to develop membership management functionality for the Oracy Schools Programme. The Forrester TTUSt- Core funding lo support Voice 21's general charitable objectives and mission. lrnpetus - Core funding to support us to align our impact with our mission and enable us to scale up. The Isla Foundation - Funding towards growing the organisations impact by expanding their reach in the NE region of England, an area of high need and low penetration. The Leathersellers Charitable Trust Core funding lo support Voice 21's general charitable objectives and mission. Minton Charitable Trust - unrestricted grant to support Voice 21's work with disadvantaged children in NW England. The Mohn Westlake Foundation Core funding to support us to align our impact with our mission and enable us to scale up. NESTA - Grant awarded as part of the Future Ready Fund to support the expansion of Voice 21's programmes to 6 pupil Referral Units in the South East, North West England and Yorkshire and the Humber, helping students to improve their social, emotional and cognitive competence through developing oracy skills. Expenditure Tolal staff costs were £1.380k (78010 of our total expenditure), increasin9 from £892k in 2020121. Thi5 was largely driven by the expansion of our schools function lo meet demand for our work. Page 9 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 The return to face to fa￿ working (following temporarily moving our delivery online in response to the pandemic) resulted in an increase to direct programme costs including travel, subsistence, venue hire and resource production compared to the previous year. Voice 21 expenditure breakdown manag￿ni Admin. . In addition, Voice 21 continued to invest in the development of our core systems such as salesforce. as well as additional systems Io sUPPOrt more effective remote working and collaboration. This includes the development of the next iteration of the Voice 21 Exehange, our online membership plafform. VoiL*21 Oracy St*D... Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt Ihe going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Reserves policy Our unrestricted free reserves ale our general unrestricted funds excluding fixed assets. We hold these funds to.. provide a safeguard against the risk of downturn in support of our activities (which could lead to expenditure exceeding income) provide working capital to finan￿ our day-to-day operations provide a safeguard against failure to deliver a9ainsl contractual obligations protect our solvency in the event of any curtailment of our income-generating activities Given our commitments, we review our reserves policy on an annual basis. Our aim is to hold between 3 - 4 months, of operating expenditure as unrestricted reserves. On 31 August 2022, our tolal reserves were £789k, of which £72k were restricted and £717k unrestricted. We did not have any investments in financial instruments during the financial year, including those with a social inveslment focus. Page10 VOICE 21 LTD {A Company Limited by Guarantee) TRUSTEES. REPORT (CO￿NuE01 FOR THE YEAR ENDED 31 AUGUST 2022 Plans for future perfod In 202212023, we aim to expand to work with over 850 Voice 21 Oracy schools, reaching more than 300k students and 11k teachers. We will continue to focus our work on those that need us most, ensuring that 70 /0 of schools we work with are in the top 40D/o of state-funded schools in England and Wales based on the percentage of students eligible for Free School Meals (FSM). To expand our work in the areas of grealest need, V￿ have identified target areas for growlh based on an anatysis of economic deprivation and social mobility indicators. as well as early language levels. Our target areas for growth in 2022123 are the North East and Yorkshire and the Humber where 44.05 /0 of schools are in our target population. Over the coming year, we will develop Voice 21 Oracy schools to further support members to benefit from a sustained relationship wrth Voice 21, ensuring they achieve the Oracy Benchmarks and offer a high-quality ofacy education to the students in their classrooms today, and those to come. To achieve this. we will: Create a School Engagement function to manage member relalions ensuring that schools benefit from the range of support we offer and that we are able to track and guide their engagement with oracy. Develop a streamlined and more user-friendly interface for school benchmarking enabling u5 to dramatically increase the amount of data responses we receive from schools and use this to track progress, monrtor impact and improve our offer. Introduce more flexibility and choice in the membership to enable schools to access tailored support to meet their school's specific needs and context. Launch a new 'Open Learning, strand to ensure that access to Voice 21 support is distributed across the school {all leachers and all subject areas). Create clear pathways for schools lo follow (covering Teacher Practice. Curriculum Development and Leadership), facilitaling cumulative progress that builds the foundations for long-lerm change in schools and sustained impacl on student outcomes. This will be augmented by increasing our provision of resources and events. expanding our online platform and strengthening the Voice 21 Oracy Schools Nelwork to build more school-tOThschool conneGtsons. To help us further develop OUT model to ensure we are having the greatest possible impact on students in our targel population, we will be using dala gathered over this year to understand beller which elements of our intervention most effectively accelerate progress in schools and undertaking research on the Implementation of oracy in different settings, oracy and subject domains and the relationship betsveen oracy and social mobility. In addition, we will work towards having a reliable measure of sludenl oracy to ensure our intervention leads to improved oracy oulcomes in students within our target population. Pa9e11 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 To achieve these oulcomes, we will invest in key areas of operational infrastructure, including technology and finance and the leadership and professional development of our growing team. Risk Management Effective risk management is critical to ensuring our success in meeting our vision and achieving our goals. All employees are able lo idenlify and manage key risks within their areas and commLJnicate and escalate Ihese, as appropriate. This ensures that responsibility for risks is distributed across, and embedded in the operations of, the charity- All identified key organisational risks are collated on a risk register which sets out the risks., assesses their likelihood and impact., tracks the internal controls in place and actions taken to reduce, eliminate or mitigate against each risk.. and sets future vllitigating actions which would further reduce the likelihood and impact of the risk materialising. The Senior Leadership Team has responsibility and accountability for regularly reviewing and updating the risk register, while our board has ultimate accountability for risk management and the setting of the or9anisation's risk appetite. The principal risks which we will manage during Ihe upcoming year are.. Risk.. Lack of reserves to meet the charity's needs a$ we scale andlor provide sufficient liquidity Mitigation.. Management Accounts are prepared and reviewed every month by the SLT, and every quarter by the Finance Committee. Reserve levels and cash flow forecasts are reviewed every month by the Operations Director and every quarter by the Finance Committee to ensure that we are holding the correct amount in reserve in line with our reserve policy. Our Reserves Policy is reviewed on an annual basis by the Board to ensure it is still appropriate. Ri$k- Failure to meet income generation targets Mitigation". Pipeline forecasts are prepared every month and reviewed at SLT level. Inveslmenl in our CRM system to provide longer-term pipeline visibility and comparison with previous years. Our membership offer to schools is reviewed on an annual basis to ensure that it meets school needs and affordability and is firmly grounded in market research and user needs. Recruitment of additional staff to bolster school recruitment and grant fundraising. Creation of a membership team to increase membership renewal rate and investment in process and communication automation Page 12 VOICE 21 LTD IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Risk.. Failure to fecruit and retain the Tight quality and diversity of staff Mitigation.. Review pay scales and non salary benefits on an annual basis to ensure they are competitive with market rates. Develop progression pathways for all staff and engage in succession planning with critical senior roles. Monitor staff turnover levels and conduct exil intetviews with all departing staff. All staff are regularly reviewed and have individual development objectives. Provide high quality induction training to all slaff, and follow on role specific training as required. Develop a community of practice and comprehensive training programme for line managers to enhance their impact. Governance Administrative details vol￿ 21,5 senior management team consists of. Beccy Earnshaw- CEO Jim Riddrford - Director of Operations Amy Gaunt- Director of Learning & Impact Alice Stott- Directors of Schools Alex Newton - Director of Engagemenl {appointed Seplember 2022) Supported by John Filipovic (J'oined May 2022) as Head of Finance. In 2021122, Voice 21's staff team grew in size from 34 members of staff (including 2 on maternity leave) in September 2021, to a team of 48 staff in August 2022. This growth primarily took place in July and August 2022 to cater for the increase in the number of Voice 21 Oracy Schools we work with, strengthen school relationships through the establishment and growth ofthe Engagement team and augment our Learning and Impact and Operations teams. In August 2021, we established a hub for collaborative Working at School 360 in Stratford, East London and have evolved into a hybrid organisation". our staff are primarily home-based but we hold regular face to face meelups for team building and collaboration purposes. Constitution Voice 21 is a charitable company limited by guarantee and not having share capital. We operate in England and Wales (company number 08165798 and charity number 1152672). We are governed by our Memorandum of Association and Articles of Association, which were last amended in December 2019 lo amend the name of the charity from School 21 Foundation to Voice 21. Big Education Trust (charitable company limited by guarantee and an exempl charity, Companies House registration number 076483891 is the sole member of Voice 21 Ltd. Page 13 VOICE 21 LTD IA Company Limltèd by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Oltr Memorandum of Association sets out our charilable purpose, which is to advance education for the public benefit, with a particular focus on preparing young people lor success in the 21 st century. In setting objeclives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including Ihe guidance 'Public benefit.. running a charity IPB2)'. Organisational Structu￿ and decision making Ultimate responsibility for governance of Voice 21 lies with the Board of Trustees, who meet each quarter to review the activities and financial position of the Charity and to assess the risks affecting it, including operational, financial and regulalory risks. The current Board of Trustees brings a wide mix of relevant skills, capabilities and experiences from the education, charity and business sectors. The Board of Trustees delegate day-lo-day operational management to the senior leadership team, and the delegation authority is outlined in a Delegation Framework. Remuneration Remuneration for the Chief Executive is decided by the Chair and the Trustee lead on People and reported to the Board of Truslees.11 is based upon individual performan￿ during the preceding year. Salary increases are considered in line with the cost of living and are decided each September by the Board of Trustees. Pay rises in addition to this depend on employee performance. The pay of new staff is set according to our banded salary brackets and takes into account relevanl experience. vol￿ 21 is commilled to paying all staff, including temporary staff. the London Living Wage. Public bènefit The Trustees are mindful of their duty under the Charities Act 201110 ensure that the Charity's activities exist for the public benefit. They have considered Charity Commission guidance on public benefit and are satisfied that the performance and achievements of the Charity during the year have benefited the public. Diselosure of Infomiation to auditors Each ol the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps thal ought lo have been taken as a Trustee in order to be aware of any relevant audit informalion and to establish that the charitys auditors are aware of that information. Page 14 VOICE 21 LTD {A Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2022 Auditors The auditors, Haslers, have indicated their willingness to continue office. The designated Trustees will propose a motion reappoinling the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 28 April 2023 and signed on their behalf by.. S C David Chair Page 15 ## **VOICE 21 LTD** ## **(A Company Limited by Guarantee)** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2022** The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees on 28 April 2023 and signed on its behalf by: **S C David** Page 16 ## **VOICE 21 LTD** ## **(A Company Limited by Guarantee)** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VOICE 21 LTD** ## **Opinion** We have audited the financial statements of Voice 21 Ltd (the 'charitable company') for the year ended 31 August 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the 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 Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 August 2022 and of its 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. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 charitable company 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 statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern 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. Page 17 **(A Company Limited by Guarantee)** ## **VOICE 21 LTD** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VOICE 21 LTD (CONTINUED)** ## **Other information** The other information 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 contained 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 information 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 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. ## **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 information 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 accordance 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: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of Trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report. Page 18 **VOICE 21 LTD** **(A Company Limited by Guarantee)** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VOICE 21 LTD (CONTINUED)** ## **Responsibilities of trustees** As explained more fully in the Trustees' Responsibilities Statement, 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 error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditors' 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 Auditors' 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: - Scrutinising journals, and other adjustments posted during the year for evidence of unusual entries. - Carrying out substantive testing to cover authorisation of expenditure in line with the financial processes. - Carrying out walkthrough testing to ensure internal controls are in place to prevent errors and fraud. - Assessment of appropriateness of accounting estimates. - Review of large and unusual bank transactions. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. Page 19 ## **VOICE 21 LTD** ## **(A Company Limited by Guarantee)** ## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VOICE 21 LTD (CONTINUED)** ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted 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. ## **Laura Ambrose (Senior Statutory Auditor)** for and on behalf of **Haslers** Chartered Accountants Statutory Auditor Old Station Road Loughton Essex IG10 4PL 28 April 2023 Page 20 VOICE 21 LTD IA CoTnpany Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPOFIATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 AUGUST 2022 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Note Income from: Donations and legacies Charitable activities 371,692 1.400,367 471.406 843,098 1,400,367 392,805 687,979 Total income 1.772,059 471,406 2,243.465 1,080, 784 Expenditure on- Charrtable activities 1,344,729 429.496 1,774,225 1.060,884 Total gxpenditure 1,344,729 429,496 1,774,225 1.060,884 Net income Transfers between funds 427,330 11,8971 41,910 1,897 469.240 19,900 13 Net movement In funds 425,433 43,807 469.240 79,900 Reconciliation of funds- Total funds brought fornard Nel movement in funds 291,244 425,433 28.782 43.807 320,026 469,240 300. 126 79,900 Total funds ¢arrled forward 716,677 72,589 789,266 320,026 The Slalement of Financial Activities includes all gains and losses recognisecl in the year. The notes on pages 24 10 38 fomi part of these financi81 slalemenls. Page 21 VOICE 21 LTD A Company Limited by Guaranteel REGISTERED NUMBER: 08165798 BALANCE SHEET AS AT 31 AUGUST 2022 2022 2021 Note Flxed assets Intangible assets Tangible assets 88,434 35.619 9,600 32,591 124.053 22, 191 Current assets Debtors Cash at bank and in hand 10 438,390 1,679,760 401,037 1,246, 139 2.118,150 1,647, 1 T6 Creditors.. amounts falling due wthin one year 11 11,452,937) (1,349,341) Net current as$gt$ 665,213 297,835 Total assets less current liabllitles 789.266 320.026 Total net assets 789,266 320,026 Pa9e 22 VOICE 21 LTD GtiT¢P.-ny Limited by Guarantee) EG4aTERED NUMBER- 08165798 BALANCE SHEET ICONTINUEDI AS AT 31 AUGUST 2022 2022 2021 Noto Charity funds Restricted funds Unreslricled funds 13 13 72,589 716,677 28,782 291,244 Total funds 789.266 320,026 The enlily was entitled to exemption from audit under section 477 of the Companies Act 2006. The memb¢is have not required the entity lo obtain an audit for the year in question in accordance wf(h section 476 of the Companies Act 2006. However, an audit is required in accordance with section 144 of the Charities Act 2011. The Trustees acknowledge their re5ponsibilrties for complying wi(h the iequiremenls of the A¢1 wi(h respect to accounting ￿cordS and preparation of financial slalemenls. The financial statements have been prepared in accordance with the provisions applicable lo entities subject to the small companie5 regime. The financial statements were approved and aulhorr5ed for issue by the Trustees on 28 April 2023 and signed on their behalf by.. C David The notes on pages 24 to 38 form part of these financial statements. Page 23 VOICE 21 LTD IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng policies 1.1 Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Charrties SORP IFRS 1021 Accounting and Reporting by Charities." Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2DO6. Voice 21 Ltd meets the definition of a publ￿ benetil enlily undèr FRS 102. A$sels and liabilities are initially recognised al historical cost or Iransaclh)n value unless Otherwise slated in the relevant accounting policy. 1.2 Company Status The company is a company limrted by guarantee. The members of tha company are Ihg Trustees named on page 1. In the event of the company being wound up. the liability in respect of the guarantee is limited lo £10 per member of the company. 1.3 Income All income is recognisèd once the Company has enlillèmenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliabty. Grants are included in the Slalement of Financial Activities on a receivable basi5. The balance of income received foi specific purposes bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferrèd income. Where entitlement occurs before income is received, the income is accrued. 1.4 Exp8nd4ture Expendrture is recognised on¢e there is a legal or constructive obligation to transfer economic benefit to a third party, It is probable that a transfèr of economic benefits 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 lolal Df direct cost5 and shared costs, including support costs involved in undertaking each aclivily. DiTecl costs attributable to a single activity are allocated directly to Ihal activity. Shared costs which Contribute lo more than one acliwly and support costs which are not attributable lo a single activity are apportioned betsveen those activities on a basis con51Stenl with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Expendilure on charitable activities is incurred on direclty undertaking the activities which further the Company's objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.5 Interest receNable Interest on funds held on d8posit is included when receivable and the amount can be measured reliably by the Company", this is normally upon nolrficalion of the interest paid or payable by the inslilulion with whom the funds are deposited. Page 24 VOICE 21 LTD {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 A¢¢ounting policies {continuedl 1.6 Intangible assets and amortisation Intangible assets costing £100 or more are capitalised and recognised when future economic benefits ara probable and the cost or value of the asset can be measuTed reliably. Intangible assets are initially recognised at cost. After recognition, undei the cost model, intangible assets are measured at cost less any accumulated amortisalion and any accumulated impairrrienl losses. Amortisalion is provided on intangible a¥sels at rates calculated to wrf(e off the cost of each asset on a straighl-line basis over ils expected useful life. Amortisation is provided on the following basis.. Website 33 '/0 slraighl line 1.7 Tanglble flxed assets and depreciation Tangible fixed assets cosliry £100 or more are capitalised and recognised when future eeonomic benefrts are probable and the cost or value of the asset can be measured reliabty. Tangible fixed assets are initialty recognised at ¢osl. After recogni(ion, under the cost model, tangible fixed assets are measured al 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. Dep￿cIatIon 15 charged so as to aUo¢ate the cost of tangible fixed assets less IheiT residual value over their estimated useful lives, Depreciation is provided on the following basis.. Office equipment Computer equipment 25/0 slraight line 33Vo straight line 1.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts dLJe. 1.9 Cash at bank and in hand Cash al bank and hand includes cash and short-lerm highly liquid investments with a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. Page 25 VOICE 21 LTD IA Company Limtted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Accountlng policies (continued) 1.10 Liabilities and provisions Liabilttie5 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 rocognised at the amount that the Company anticipates Il will pay lo settle the debt or the amount il has received as advan¢ed payments for the good5 or services il must provide. Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount iale that reflects the risks specific to the Iiabilrty. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 1.11 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Imnsaclion value and subsequently measured al their selllemenl value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 1.12 Pensions The Company operates a defined contribution pension scheme and the pension ¢harge represents the amounts payable by the Company lo the fund in respect of the year. 1.13 Fund accountlng General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Reslricled funds are funds which are lo be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is sel out in the notes lo the financial stalemenls. Page 26 VOICE 21 LTD IA Company Limited by Guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Incomè from donations and legacies Unrestricted Restrictèd funds funds 2022 2022 Total funds 2022 Total funds 2021 Grants 371,692 471,406 843,098 392,805 Total 202Y 220.850 171.955 392.805 Income from charitable activities Unrestricted funds 2022 Total funds 2022 Totgl funds 2021 Education 1,400,367 1,400,367 687,979 Tot812021 687,979 687,979 Page 27 VOICE 21 LTD IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Analy$ls of expenditure by activities Activities undertaken directly 2022 Support costs 2022 Total funds 2022 Total funds 2021 Education 1,576,247 197,978 1.774,225 1,060,884 Total 2021 967, 788 93,096 1,060, 884 Analysi5 of direct ¢osts Total funds 2022 Total funds 2021 Staff costs Travel & acccimmodaliorb Consulting Resource production Event costs Advert151119 & marketing 1.379,640 36.496 43,698 31,OB1 62,437 22,895 891. 766 14, 158 56.834 3,053 1,511 466 1.576,247 967, 788 Page 28 VOICE 21 LTD {A Comp-'ny Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Analysi5 of expgndlture by activities {continuedl Analysis of support Costs Total funds 2022 Total funds 2021 staff costs Travel & accommodation Sundry expenses Subscriptions Computer costs Event costs Advertising & marketing Telecommunications Professional fees Accountancy fees Depreciation and amortisation Rent & rates Insurance Books 37,419 1 5,804 7,322 12,694 29.293 18.298 6.787 15.300 2,665 8,700 18,408 21,355 1,720 2,213 11,540 3,454 4, 185 72,009 30,869 1,551 6, 735 6,480 13,417 1, 757 1,099 197,978 93,096 Auditors. remuneration 2022 2021 Fees payable to the Company's auditor for the audrt of the Company's annual accounts 7,250 5,400 Page 29 VOICE 21 LTD IA Company Limited by Guarantèe) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Staff costs 2022 2021 Wages and s8laiies Social security costs Contribution to defined ¢onlribulion pension schemes 1,197,885 124,249 57,606 775,491 78, 785 37.490 1,379.640 891, 766 The average number of persons employed by the Company during the year was as follows.. 2022 No. 2021 No. Staff 39 25 No employee received remuneration amounting lo more than £60,000 in either year. Trustees. remuneration and èxpenses During the year. no Trustees received any remuneration or other benefits (2021- £NILJ. During the year ended 31 August 2022, expenses tolalling £536 were reimbursed or paid directly lo 3 Trusteès (2021- £397 to 2 Trustees). Expenses related to trustees meeting held during the year. Page 30 VOICE 21 LTD IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Intsngible assets Websltè Cost At 1 September 2021 Additions 28,800 88,434 At 31 August 2022 117,234 Amortisation At 1 September 2021 Charge for the year 19,200 9,600 At 31 August 2022 28,800 Net book value At 31 August 2022 88,434 Al 31 August 2021 9, 600 Page 31 VOICE 21 LTD IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 Tangible fixed assets Offico equipment Computer equipment Total Cost or valuation Al 1 September 2021 Additions Disposals 3,280 3.139 19,513 29,221 11,8541 22.793 32,360 {1,8S41 At 31 August 2022 6.419 46,880 53,299 Depreciatlon Al 1 September 2021 Charge for the year On disposals 1.2S1 1,23S 8,951 7.573 11.3301 10,202 8,808 11,3301 AI 31 Augtist 2022 2,486 15.194 17,680 Net book value At 31 August 2022 3.933 31,686 35.619 At 31 August 2021 2,029 10,562 12,591 10. Debtors 2022 2021 Due within one year Trade debtors Other debtors Prepayments and accrued income 424,717 2,346 11,327 379, 720 799 20,518 438,390 401,037 Page 32 VOICE 21 LTD p￿nY Limited by Guaranleel -.i TO THE FINANCIAL STATEMENTS FOR IHE YEAR ENDED 31 AUGUST 2022 11. Creditors: Amounts falling duè within one year 2022 2021 Bank overdrafts Trade ¢redilors Other taxation and social security Pension fund loan payable Other creditors Accruals and deferred income 34.818 39,241 11,611 3,697 1.363,536 24,532 27,909 8,646 1, 197 1,287,057 1.452,937 1,349,341 Al the balance sheet date, the charity as holding funds received in advance for programmes starting after September 2022. 12. Financial instruments 2022 2021 Financial assets Financial assets measured at fair value through income and expenditure 1,679,760 1,246. 139 Financial assets measured al fair value through income and expenditure comprise cash al bank. Page 33 VOICE 21 LTD IA Company Limited by Guarante¢, NOTES TO THE FINANCIAL STATEME,,: fs FOR THE YEAR ENDED 31 AUGUST £022 13. Statement of funds Statement of funds- current year Balance at 1 September 2021 Balance at 31 August 2022 Transfers inlout Incorne Expenditure Unrestricted funds General Funds 291,244 1.772,059 (1.344,7291 11.8971 716,677 Restrlcted funds Big Change NESTA The Du5verton Trust Allen & Overy Allan and Gill Gray FIL UK 2,279 1,642 24,861 12,2791 11,6421 160,3201 125,0081 1285,0861 155.161) 35,206 25.000 283,450 56,500 30.000 41.250 253 1,636 1.339 30,000 41.250 The Isla Foundation The Big Ask 28,782 471,406 1429.496) 1,897 72,589 Total of funds 320,026 2,243,465 11,774.225} 789,266 Pagè 34 VOICE 21 LTD IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 13. Statement of funds Icontinuedl 8ig Change Oracy Network Grant - lo fund the development Df coalition for oracy (the Oracy Network) and resear¢h and support lo inform the All Party Parliamentary Group on Oracy's Stage of Speaking Inquiry. NESTA - Grant awarded as part of the FLJture Ready Fund lo support the expansion of Voice 21's programmes lo 6 PLJpiI Referral Units in the South East, North Wesl England and Yorkshire and the Humber, helping students to improve their social, emotional and cognitive competence through developing oracy skills. The Dulvèrton Trust - Funding for a Nvtryear action research proje¢l (Voicing Vocabulary) to improve vocabulary In Key Stage 2 and 3 students through a cross-phase approach lo oracy in secondary and primary feeder school clusters in Leicesler, the Black Country and Pendle. Allan & Overy - Grant for the provision of oracy programmes and support in schools in Tower Hamlets- Converted to Core funding in response to Covid-19 pandemic. Allan and Gill Gray Funding for four activities which are School portfolio management interface Regional development of Hub Schools, The Voice 21 Oracy Institute and Student Outcomes Assessment Pilot. FIL UK - Funding for Technology lo develop membership management functionality for the Oracy Schools Programme. The Isla Foundation - Funding towards growing the organisalions impact by expanding their reach in the NE region of England, an area of high need and low penetration. The Big Ask - Funding a dedi¢aled drive lo improve students, oracy in 'cold-spols' North-East, Yorkshire & Humber and East Midlands - ensuring our support reaches an additional 138,779 students that need it most. The transfer between funds relates to the use of general funds on reslricled projects. Page 35 VOICE 21 LTD IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 13. ststement of funds Icontinuedl Statement of funds - prlor year Balance al I September 2020 Balance al 31 August 2021 Transfers in/out Income Expendilure Unrestricted funds General Funds 285,436 908,829 f902, 927J 194) 291,244 Restrlcted funds Big Change NESTA 4, 690 17,500 55,956 35, 62,996 (f9,91lJ {54,314J (10, 642) (73,090) 2,279 1,642 24,861 The Dulverton Trust Shine 10,000 94 14,690 171,955 (157,957) 94 28, 782 Total of funds 3(￿, 126 1,080, 784 (1,060,884) 320,026 14. Summary of funds Summary offunds- current year Balancg at 1 September 2021 Balance at 31 August 2022 Transfers inlout Income Expenditure General funds Reslricled funds 291,244 28,782 1.772,059 471.406 11.344,7291 1429,4961 11,8971 1,897 716,677 72,589 320,026 2.243.465 11,774,225) 789,266 Page 36 VOICE 21 LTD IA Col￿panY Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 14. Summary offunds {¢ontinuedl Summary of funds- prlor year Balanco al I Sept6mb?r 2020 Balance al 31 August 2021 Ttsnsfe in/oul Income Expenditure General funds Restricted funds 285,436 14, 690 908,829 177,955 (902,927) f75T,957J (94) 94 291,244 28, 782 300, 726 1,080, 784 (1,060,884) 320,026 15. Analysls of net assets between funds Analysls of net assgts between funds- Current year Unrestrieted funds 2022 Restricted funds 2022 Total funds 2022 Tangible fixed assets Intangible fixed assets Current assets Creditors due within one year 35,619 88,434 2,045,561 11,452,937} 35,619 88,434 2,118.150 11,452.9371 72.589 Total 716,677 72.589 789.286 Analysis of net assets between funds - prior yéar Unreslricled funds 2021 Reslncled funds 2021 Total funds 2021 Tangible fixèd assets Intangible fixed assets Current assets Creditors due within one year 12,591 9,600 t,618,394 {1,349,341) 12,591 9,600 7.647, 176 (t,349,341) 28, 782 Total 291,244 28, 782 320,026 Page 37 VOICE 21 LTD {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 16. Pension commitments The company operates a defined conlribLrtion pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension Gosl charge represents conlribulions payable by the company to the fund and amounted lo £57,50812021.. £37,490). The balance oulslanding at the balance sheet dale was £11,611 12021.. £8,846>. 17. Members, liablllty Each member of the charitable company undertakes to contribute to the assets of the company in the event of il being wound up while helshe is a member, or within one year after helshe ceases lo be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before helshe ceases lo be a member. 18. Related party transaction5 DLJring the year payments were made lo Schoo121 of £Nil12021". £1,130). At the balance sheet dale the amount outstanding lo Schoo121 was £Nil 12021.. £NILI. Also during the year payments were made to School 360 of £21,70012021'. £Nill. Al the balance sheet date the amount OLJtstanding lo School 360 was £Nil 12021." £Nill. Both Schoo121 and School 360 are academy's wlhin the Big Education Trust, which holds the Guarantee. Page 38