REGISTEftEO COMPANY NUMBER: 08765731 {England and Wales) REGISTERED CHARifi frJUMB£R: IIS4990 AMENDED Re ort of the Trustees and ancial statement5 for the Year Ended 31 March 20 for Sutton McGrath Hartley 5 Westbrook Court Sharrov4vale Road ShefPield South Yorkshire Sll 8YZ Grimm And Co. Limited Contents of the Financial Ststements for the Year Ended 31 March 2024 Report of the Trustees I to 27 Repart of the Independent Auditors 28 to 31 S&2tement of Flnanclal Actlvltles 32 Balan¢e Sheet 33 Cash Flow Statement 34 Notes to the Cash Flow Statement 35 Notes to the Financial Statements 36 to 52 Grimm And Co. limited Re ort of the Trustees ft*r the Year Ended 31 March 2024 The Trustees present our annual report tO8ether with the audited financial statements of the charitable company for the I April 2023 to 31 March 2024. The annual report serves the purposes of both a Trustee5' 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'5 8overning document and the provisions of the Statement of Recommended Prattice ISORPI applicable to charities preparing our accounts in accordanre with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 published in October 2019. Since the charitable company qualifies as small under sertion 382 of the Companies Att 2006. the strategic report required of medium and lar8e companies under the Companies Act 2006 IStrate8ic Report and Dirertors, Report) Regulations 2013 has been omitted. Governing document The Charlty Ss operated under the rules of its memorandum and articles of association which was incorporated on 7 November 2013 and registered wlth the Charity Commission on 12 December 2013. OBJECTIVES AND AcfiviTIES a. Policies and oblectlves The twstees consider that they have complied with Sertion 4 of the Charities Act 2006 with regard to the 8uid?nce on public benefit publlshed by the Charity Commission as indicated in the summaries of activities, achievements and performance below. The objert for which this charity was established, as stated in the Memorandum and Articles of Association is: - to advance learnlng for the publlc beneflt of literacy. to act as a resource for young people up to the age of 18, by providin8 advice and assistance, organising pro8rammÉs of learnlng/educatlon and other activlties as a means of: advancin8 in life and helping young people by developing thelr skllls, capacities and capabllltles to enable them to participate in soeiety as independent, mature and responsible individuals. advancing education. relieving thelr unemplcyment. to promote soclal Incluslon for the publSc beneflt by preventing people from becoming socially excluded, relieving the needs of those people who are vulnerable or/and 50clally excluded and a$515ting them to integrate into society. For the purpose of this article 'socially excluded, means being excluded from society, or parts of society, a5 a result of one or more of the following faciors.. unemployment,, financial hardship,. youth or old age; ill health (physical or mentall; substsnce abuse or dependency including alcohol and drugs; discrimlnation on the grounds of sex, race, disability. ethnic origin, religion, belief, creed, sexual orientation or gender re-assignment. poor educational or 5ki115 attainment; relationshlp and famlly breakdown; poor houslng, In settlng objettives and planning for activities. the Trustees have Biven due consideration to general guidance published by the Charity Commission relating to public benefit. including the guidance 'Public benefit: running a charity IPB21'. Page I Grimm And Co. Limited rt of the Trustees for the Year Ended 31 Mareh 2024 b. Strategies for achievlng objectives Grimm & Co is a charity that uses stories and writing as a vehirle to develop the socio-culturdl literdcies of children and young people that support them to make meaning of the world around them and build their own positive narrative within that world. Grimm & Co's si8nature pedagogy is built on a bedrock of research, initially formed as a result of a regional development funded project, Inspire Rotherham, that ended in 2011. Our key purpose is to change lives one story at a time and we use the joyful discovery of stories to do this, This charity is concerned with the socio-cultural literacie5 that influence the narratlves of children and young people and more recently, we have developed excltlng nÈw prograrnmes and activities to also build the creative confidence of those who influence the lives and learning of children and young people teachers. parents. carers, those working with children and youn8 people. Wision: Every child a writer Mission: Change lives one story at a time Objectives: Champion the writer in every child Use storytellin8 to 8ive every Child from every background a voice Challenge expectations and asplratlons stsrt from the chlld's own imaginatlon - their ideas rule Provide an audience for children'5 writing and deliver quality outputs Mako it free and atte55ible for children to attend out-of-5th001 activities Make sure no child is left behind Bulld motivation, self-esteem, resillence and skllls in both workshops for schools and In our outThof*chool holiday club programmes Develop the creative capacity of those with influence on children/young people to support chlldren's development through the joyful discovery of stories - Take fun VERY seriously Grlmm & Co's signature pedagogy is built on foundations of dellvery that draw on habits of the heart, the mind and the hand (Shulman, 20051 of a creative practitioner - supporting children and young people to make meaning of the world around them to build their own positive narrative within this world. We believe in: Using storie5 to give every child, from every background. a voice Starting from the child's own cultural toolkit Itheir experiences and their own imagination) Enabling a creative environment - an ecology of rich literacies surrounding the child - authentlc but playful Supporting and enabling the influencers on the child inspiring whole communities to get involved In children's development - The power of the imagination to ignite new possibilities and imagine potential narratives Providing purpose- a reason to write Challenging expectations and aspirations - Taking fun seriously. Nexl steps- Grimm & Co was founded in 1148. just before lunchtime, by Graham and Grizelda Grimm. Since then, we have situated ourselves in Rotherham, occupying many strange and unusual buildings. to serve the children and young people of this great South Yorkshire town and beyond. Our mission is to changè lives one story at a time by supporting under-resourced children and young people aged 0-18 with their confidence and skills around creative writing. through the joyful d￿cOVery of 5torie5. Page 2 Grimm And Co. Limited Re ort of the Trustees for the Year Ended 31 March 2024 Durin8 the 2023- 2024 financial year we anticipated a move to our permanent home in the Emporium of Stories on Ship Hill in Rotherharn town centre. The building projett had been considerably delayed131 week5 against 3 32 week contra¢tl and the move into this fantastic setting had been moved forward into this financial year. Our brand-new writing centre was due to open its sturdy yet creaking big red doors to the public (magical, ethereal or otherwisel in February 2024, set to become Yorkshire's unique story destination boasting our famous Apothecary to the Magical, Feastery dining, immersive meeting rooms and three Writers, Pad classroom spaces enabling us to increase our capacity to work with more children and young people. We have also secured additional funding to install a Changing Places facility so that all visitors can visit the Emporium in comfort and with dignity should they need to use the bathroom. We have transformed an underused church into a fabled and fantastical writing centre in the heart of Rotherham which will serve the whole community. The fit-out took shape under the watchful eye of globally-award winning designers and creators, Lumsden Desi8n, Codsteaks and Cronin Joinery, with an exceptional track record that includes the Harry Potter Studios (London and Tokyo), Kew Garden5 and many other renowned visitor attractions. The final phase of this substantial building projert completed in-year but our Grand Opening was delayed until April 2024. Our writing workshops take place across many settings as we aim to empower children and young people using a child-led approach for them to make meaning of the world around them and contribute to that meaning. A variety of writing forms and genres are explored, from magazines to novellas, poems to songwriting, animaticn to storymaking. And we take fun VERY 5erious1v. We are simply the Stage managers, dressing the space and setting the scene, ready for the participants to take centre 5ts8e and wow us with their imaginative creations such as.. SCOUT: A survey and expedition robot created by Connor in Saturday Afternoon Club Ronnie-Ann James.. a dream-speaker made out of rubbish created by Phillimore Community Primary School, Acres Hlll Community Primary School and High Hazels Academy The Custard Creatures & Co: Saturday Morning Club band, hopefully going on a world tour in 250 years, time. -all!!1111 IL Page 3 Grimm And Co. Lirnited Re ort of the Trustees for the Year Ended 31 Marth 2024 . Activities undertaken to athieve objectives (Statistics taken from our 2024 Impaet Report which covers the academic period Sept 23 - Aug 241 Grimm & Co'5 pedagogy is embedded acros5 all activities and programmes that we dellver. Contributory core funding from Arts Council England as a National Portfolio enable5 US to plan. deliver and evaluate our team, volunteers and freelan￿ artists. We deliver out-of-school holiday clubs, Saturday clubs, taster pro8rammes and festival activities directly to children and voung people that result in an artistic outcome to be shared with an audience. From soap operas to card games. books and 50n8S. the children and young people we work with develop and create outcomes that can be appreciated by others glving a purpose to create and to write. School cla55 Broups visit Grimm & Co to attend Story makin8 workshops where the children arrive wlth thelr Imaglnations and leave a5 published authors of their own illustrated book. We deliver learning programmes to school groups in comedy writing> poetry workshops, presentation, storytelling and more. The teacher development programme, Chapter and Verse. has now concluded and we are looking ahead to a second appllcatlon to the Paul Hamlyn Fund to further develop this work. This opportunty ha5 enabled significant activities of peer mentoring bÈtsMeen artist and teacher, developing creative confidence to attempt new methodologies, reaping improved outcomes for the pupils, Family learning Is a recentfy introduced strand of artivity, funded by the Lottery Community Fund, that we now offer, using storie5 to bulld the confidence of carers and parents to support thelr children's soclo-cultural literacies and readiness to learn. Volunteers are supported with a suite of trainln8 activities and a range of rolè opportunitles to develop skills and undertake meanlngful engagement whèré they can see a real difference and impact as a result of their Interventions. Many volunteers choose to be story mentors, supporting children on a one-to-one basis. Further roles include illustrator, publisher, graphic designer, retail assistant. product development, admin. dats, media, research, hospitality and much, much more as we explore the talents and possibilities our volunteers bring whilst furthering their skills. Artist development programmes ensure we recruit and engage 2rtists with facilitation skills and an approach that matches our signature pedagogy whilst 8150 developing their further understanding of the communities we work with, their needs. their challenges and Cultural diversities to provide relevant and inclusive provision that is also exciting and engaging. SCHOOL PROVISION In-S¢hool Provision Numbèrs at a glance: 1804 children and young people from 56 5chools/alternative provisions across 9 writin8 projects resulting in 3697 creative learnlng experiences Page 4 Grimm And Co. Limited Re ort of the Trustee5 forthe Year Ended 31 March 2024 A Call to Crèate A Call to Create is an arts-based literacy provision placing the pupil at the heart of the learning journey where they devise and generate the story that they will then explo￿. From rhe point of conception to the creative delivery in schools, the children lead the way. At the start of the 23-24 academic year, Grimm & Co were keen to involve everyone including teaching staff, senior leaders, Grimm & Co staff, associate artists, pupils and community Members from the Sheffield South-East Learning Partnership ISSELP schools). We conducted a consultation with three of the Schools who created a brilliant story Ronnie-Ann James and the Dream Spiders. Grimm & Co then popped up with an immersive theatre space called The Everywhereium and delivered a 4-week residency, which applied our way of working to the National Curriculum. So far, we have conducted 4 consultations and 4 residencies, working with 239 Y4 pupils. Page 5 Grimm And Co. Llmited ort of the Trustees for the Year Ended 31 Mar¢h 2024 IMPACr: "You know you're doing something right as a school leader, when you're on duty on the yard at breaktime and you overhear some year four's playing football saying, .1 can't wait for break to be over because we've got English with Grimm & Co!, Headteacher, Pipworth Community Primary School "It's the quieter children that don't usually get Involved that thrive In this environment." My Wrayj Phillimore Community Primary School "The children were so engaged in the Everywhereium, the excitement was in thelr faces. It was great that they linked props back to the story that they hadn't been involved in.. Miss Malik. Acres Hill Comrnunity Primary School "It didn* feel like we were doing loads of writlng because It was really tun and when you're having fun time goes very fast." Y4 pupil, Acres Hill Community Primary School '1 found the key whlch made me feel confident and I felt curiou5 because thls place Is full of maglc. Y4 pupil, Acres Hill Community Primary School 'It was really fun, and we got to make really nice, lovely senten¢es Using imperative verbs Ilke 'lf your brother Bets sucked down a plughole you must play a ukulele., Y4 pupil, Acres Hill Community Primary School '1 feel creative because It's really magical and it feels really mysterious." Y4 pupil, Phillimore Cornmunity Primary School 'It felt super fun and I felt confident because I was sharing ideas and finding Items and I thought I was going to find clues to help with the story." Y4 pupil, Phillimore Community Primary School "I Ilked free wrltlng because it was very fun and you can show your feelings when you're writing It and if you don't know what to do it doesn't matter. It made me feel confident." Y4 pupil, Phillimcre Community Primary Schcol Spoken Word Power This was the final year of the Spoken Word Power project, a poetry programme by Eastside Educationzl Trust. where Grimm & Co was a regional partner. The theme this year was Hear My Voice and we worked with 9 schools and 285 pupils. Pupils worked with a trained Poet Educator to develop their very own piece of spoken word poetry which was performed in a School poetry slam. The winner of the slam from each School went on to perform at a celebratory event at the Rotherham Civic Theatre on World Poetry Day. Page 6 Grimm And Co. Limited Re rt of the Trustees forthe Year Ended 31 March 2024 Objectives: Cultivate an understanding of 'voice' through è range of perspectives. including the notion of what it means to be heard and why we want to be listened to through a personal lens. Explore the theme through a ran8e of interactive, collaborative artivities and exercises. Employ a selectlon of poetry tools and techniques to further develop children and young people's poems. Create. edit. rehearse and perform a group or individual poem. IMPACT: We asked participants whether they agreed wirh the following statement.. '1 feel happy when I'm being creative." l agree a lot - 51% l agree a little bit= 24% I'm not sure- 17% I disagree a little bit- 6% I disagree a lot= 2% "It let me create what I want." Pupil, Kilnhurst Primary School "Seeln8 the children up there perFormln8 and thelr confldenee, I felt so proud when they got a massive standing ovJtion. They were so calm. I don't kn¢>w If I would have been able to do that when I was their age. And also the parents, thèy were very thankful so yeah, a very proud teacher." . Teacher. ThornhS11 Prlmary School. In-H Numbers at a glance: 1257 children and young people from 39 schools/alternative provisions in South Yorkshire and Derbyshire acr055 4 writing programme5 Storymaking Storymakin8 is Grlmm & Co's most popular schocl workshop that takes place across a mornlng in our Emporium of Stories. Our facilitators tell the tsle of how we came to be, introducing our mysterious bosses, Graham and Grizelda Grimm who founded Grimm & Co in 1148. just before lunchtime. During their time at Grimm & Co, the children and younE people crÈate a story together - whilst being hassled by the voice of the unseen Grah3m or Grizelda Grimm. The Grimms are desperate for the children to create stories because ima8ination gives ener8y to the ma8ical beingsl Our child-empowered approach allows children's imaginations to run free. while an illustrator draw5 the characters and setting live. straight onto the pa8el Flnally, all pupils write their own individual ending and leave our Emporium of Stories as published authors. Page 7 Grimm And Co. Limited Re ort of the Trustees for the Year Ended 31 March 2024 IMPACr: "Their vocabulary has improved and they are usin£ words they learnt during the trip. They think outside the box a bit more and are eager to discuss plots and setting5." . Teacher, Emmaus Catholic CofE Primary School "The children's eagerness to write for pleasure has shown since we have been to Grimm. It has taken over just doodling in books and l am seeing some interesting stories. - Teacher, Emmaus Catholic CofE Primary School "One child, who struggles with confidence, 8Ot to read their story to the class at Grimm. It helped thÈm a lot in school with their peers. You can see thls pupil beglnnlnE to shine a blt more in les50n, be more confldent to put their hand up and get involved." _ Teacher, Emmaus Catholic CofE Primary School "The impact Is that you make writing fun. Thi5 is really important as in Y6 we have to overload them with grammar.. Teacher, Emmaus Catholic CofE Primary School "O is a student who was relurtant to attend the workshop when we sald It was about writing stories. His handwriting is an issue and he feels terribly selfoys' 8roup consultation. where [one of the young peoplel mentioned Grimm & Co, where he ha$ said that we should include a "Grimm & Co" style sesslon - whlch I feel proves sentirnent to what you have dellvered this past month."_ Rush House Staff Volunteers Numbers at a glance: 54 new volunteers recruited 153 volunteers retained 126 volunteers have supported us across 968 activities, giving us 4,271 hours of their time. Page 19 Grimm And Co. Limited Re ort of the Trustees forthe Year Ended 31 March 2024 Volunteers have continued to have a hugely positive impact at Grimm & Co. Since opening the Emporium of Stories, we have increased the amount of creative learning activities and services we provide. In order to increase commercial potential, using this wonderfully unique space, we have been able to host paid and unpaid events, such as conferences, teacher trainin& celebrations, spoken word poetry nights and lots more. All of this has increased our need for volunteer support and our volunteers have certainly risen to the challenge. From pot washing, story mentoring, assistin8 in the shop to helping us set up events, they are a vital part of Grimm & Co's success. To put their time into monetary value, volunteers h3ve saved us approximately £48,860.00 in 2023-2024. IMPACr: 91% of volunteers said they have grown in confidence and skills giving them a better quality of life. 48% ofvolunteers have undertaken further community engagement. 74% of volunteers feel they have developed skills to support them in securing employment beyond Grimm & Co. 97% of volunteers feel their wellbeing has incre?sed. "The volunteers were INCREDIBLE. Our students loved working with them- they wère a key part of what made the whole experience so special.. _ Teacher, Wale5 High School When asked if volunteering at Grimm increases wellbeing, one voluntÈÈr said: 'It has given me 50mething to look forward to and a sense of belonging in a professional and welcoming environment" -VolJ Page 20 Grimm And Co. Ltmited Re rt of the Trustees fortheyear Ended 31 March 2024 Volunteerlng and getting invofved has also had an effect on your personality as well. I was fifftding myself more confidènt and happier in general. It helped me realise my value as a person who (on make a difference and even helped me improve a number of skills.. Volunteer Freelance Artists We have worked with 28 associate artists this year, this 15 an increase on last year. We are looking forward to increaslng this number a8aln In 24-25 now the Emporium of Stories is full opèn. Creative Producer Trainee5 In a5SQClation with ChildrÈn's Capital of Cukure, Grimm & Co have employed two Creative Producer Trainee5 to 5UPPOrt overrhe course of the year, from February 2024- Marth 2025. They were 8lven the responsibilty of organising and planning Grimm & Co's garden project lThe Botanist's Backyard of Books, Bees and Breèksl, as well as SUPPOrting the opening of the Emporium of Stories, The Creative Producer Trainees have contributed original activities for The Feastery and monitor the data and usage of these. On top of these overarching projerts, the tralnees are involved in many aspects of working at Grimm & Co Includin8 facilitating, scribin& or being a story mentor in Storymaking sessions. helping with out-of-school clubs, taking part in anv workshops and event5 held at Grimm & Co or externally. and helping out in The Feèstery kitchen or The Apothecary shop Iloor. They will continué to create events and actlvitles, one of which is Grimm & Co's Unbirthday Event which will take place in February 2025 and is one of the trainees. malor projects. The central aim of this traineeship is for Avumile and Dominlc to progress thelr confidence and experience in areas of leadership, facilitation, production, cieative learnin& and working with children and youn£ people. Children's Capltal of Culture year and the Festival of Stories Next year, Rotherham will be the world's first Children's Capital of Culture. In the festival year, Grimm & Co will be eollaborating with the brilliant organisations that are present across Rothèrham to reach more ¢hildren, youn8 people and families than ever. Curated by local children and young people, the Children's Capital of Culture explores four themes.. - You're Not From New York Cityyou're From Rov'rum - Who We Are, Where We Come From Plug In And Play - The World Beneath Our Feet Grimm & Co will be relaunching our Festival of Stories in 2025 after a successful pilot thls year to Celebrate all Rotherham stories and create an event that all Rotherham organisations can get involved in. We want to showcase. share, create and inspire imaginative writing and enga8e familie5 in their own imagined narratives. We want Rotherham to become a StoryTown. See you next year. Page 21 Grimm And Co. Limited Re ort of the Trustees for the Year Ended 31 March 2024 Celebrating Succe55 IMPACr: 28 artists worked with 282 hours of volunteer training 6 Volunteers have been supported to gain employment 4 festlvals attended by Grimm & Co Digttal reach: 3,538 views on YouTube 111 hours of watch time on YouTube (Top video Lin8er Lon8er Lane Isoap Operal, episode I 1381 views). 865 5ubscriber5. SD films posted during that timel 35,108 website users on 44,603 sessions {111.123 page views. 193 purchases. 117 sign ups to newsletter (from website) 46% of Mailchimp subscrlbers are highly engaged on Volunteers Newsletters list 279 new Mailchimp subscribers to general Ilst 34% aro highly engaged on Mailchlmp general list 76,486 accounts reached on Facebook with 441 new followers. . Fundraising artlvlties and in¢ome generatlon, to update We have been able to contlnue our retail activities In our temporary physlcal space at Linger Longer Lane and also through online sales. As an existing National Portfolio Organisation through ACE we were able to secure a ccntinuation year In fundlng prior to r&applyin8 for the full funding round April 2023 March 2026. We also recelved a cost-of-living increase for our Natlonal Lottery Community Fund grant. - The capital projÈet, althtsu8h significantly delayed, is closer to completion; we anticipate taking possession of the bulldlng again in Q2 2023. The funding for the fit-out project has been secured through South Yorkshire Combined Mayoral Authority and a combination of Key Fund loan and grant. Moving into the Emporium of Stories is critical to the next phase of our income generation. The building development with allow income throu8h our new Feastery cafe, our permanent shop and increased visibility for our 8eneral fundraisin8 acbvities. f. Investment policy and perfornianc• Grimm & Co have continued with the overhaul of policies and are introducing new pollcles that bring about greater efficiencles and improved communication. The board sub committees enable greater governance and detailed scrutiny of HR, finan¢e, fundraisin& strategy and communications. Flnanclal revlew . Golng concèrn After makin8 appropriate enquiries, the Trustees have a reason8ble expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. For this re050n, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the 80ing concern basis can be found in the a¢countiri8 policies. Page 22 Grimrn And Co. Limited ort of the Trustees for the Year Ended 31 March 2024 Financial osition Income from donations recÈived was £11,731 12023.. £23.864I. This is reduced from the previous year and presents an opportunity area as we look forward to opening the Emporium of Stories. Income from charitsble activitie5 was £1,274,29212023: £1,282,656) as for the previous year and compared to previous years, this figure is signifi¢antly affected by the grants recerved for the ¢ontinuin8 Capital project. Other income, including incomin8 resour¢e5 from generated funds was £32,10212023: £47.6211. the slight redurtion reflects that we were closed for a period of this financial year and working towards the opening Of the Emporium. Total incoming resour￿5 for the year of £1,321,43712023.. £1,354,141). Resources expended for the year were £586,44312023: £580,486). The net incoming resources before other recognised %ain5 and IossÈs wa5 £734.99412023: £773,655>. Total funds as at 31 March 2024 were £3,063,59712023.' £2,328.6031. This 15 comprised of restricted funds to cary forward for projett5 that will continue of £667,70112023-. £1,768,713), designated funds to carry forward for allocation against specific capital costs of £53,39612023'. £261,1391 and unrestricted funds of £2.342,500 12023: £298,751). As per the previous 2023 - 2024. this year has again seen additional impact on the charity's budget due to a significant capital project taking place with due diligence, professional and legal sorvices. design consultation and a full Capital build project. This artivty Is unusual and inflates the income/expenditure over this period, b. Reserves pollcy Through a challenging time (post pandemic and impact of cost-of-livin8} for fundraising and whilst overseeing the capital project, Grimm & Co has aimed to retsin a minimum of 3 months reserves throughout this year and the charity had planned for a consistent level. Grimm & Co's policy is to strive to achieve 6 months, operatlng free cash reserves but through thls dlfficult time we reviewed this policy and reduced our expettations accordingly. Free reserves as at 31 March 2024 were £81,92912023.' £176,233),. we do anticipate a surplus of around £20k to move back to unrestrictÈd from the designated buildin8 fund in the next financi21 year. Free reserves are the net funds available for the charity aftor deducting unrestricted tangible fixed assets of £2,339,04812023: £130,622, 2022: £9.9561, èdding unrestrlcted lon8 term loans in relation to the tsn8ible assets of £78,477, deductlng restrirted funds of £667,70112023: £1,768,713) and deducting designated funds of £53,39612023: £261,139). Thls slts below our 3 month's operating costs and is below Grlmm & Co's reserves policy. The date 31 March 2024 sat on the brink of opening the Emporium of Stories and our unrestricted fixed a55ets have seen a significant Increase reflerting our Investment in openln8 the Ernporlurn at this time. The Trustees regularly analyse and review the level of reserves and conslder that the free reserves of the Charity are sufficient to cover all known risk, liabilities and contln8encies, to absorb setbacks and allow the Trust to take 3dvantage of chan8e and opportunity. The Tru5tee5 review how the assets of the Charity can be best utilised to ensure that the objertive5 of the or8ani5ation are fulfilled, and the best possiblÈ réturn 15 provided to ensure the long-term sustainability of the Charity. ThÈ Trustees have agreed that subject to the financial position of the Charity. funds can be designated by the Trustees towards capital projerts to develop new services of io assist with the irnplementation and delivery of strategically relevant development projetts and activities. The Trustees regularly review the level of reserves being held. Reserves are held to manage short-term volatility and to support opportunities that may arise during the year Isubjett to appropriate business plannin81. Page 23 Grimm And Co. Limlted Re ort of the Trustees for the Year Ended 31 March 2024 Flnanclal risk management objectives and policies The charity has been greatly supported by being a National Portfolio Organization INPOI of the Art5 Council, providing some core funding that has enabled operdtional expenditure. We were sueeèssful in retaining our NPO status for the round March 2023 - April 2026. We are now in process of applying for a extension year for Mar 2026- Apr 2027 after ACE invited applications for this. This will offer a level of security as we look ahÈad to the next three years and plan for cautious growth of the charity. srRUCTURE. GOVERNAN￿ AND MANAGEMENT GovernSng document The charity is controlled by its goveming document, a deed of trust, and constitutes a limlted company, limited by 8uarantee, as defined bythe Companie5 Act 2ts)6. Charlty constttution . Constltution Grimm and Co. Limited is registered as a charitable company limited by 8uarantee and was set up by a Trust deed. b. Methods of appointment cr election of Trustses The management of the charitable company is the responsibility of the Trustees who are elected and co￿Pted under the terms of the Trust deed. Trustees are appointed following an open recruitment process. On appointment Trustees are provided with a pack of key documents, dSgital access to policies and board minutes/papers from the previous 3 meetin8S. A full induction is completed by each board member and includes safeguarding, iniroduction to Grimm & Co's work and pedagogy, health and safety. Grirnm & Co undertake a DBS for all Trustees and no attivity can take place until this process is complete with a clear enhanced DBS, Arrangements for setting pay and remuneration of key management personnel and any benchmarks. parameters or criteria used are undertaken at a detalled level by the HR sub-committee with delegated authority from the board. Any key decisions made are then brought to the main board meetin8 for ratification. c. Delegated responslblllty The trustees delegate day-t¢￿aY management to the Founding Chief Executlve Officer. Or Deborah Bulllvant MBE and take advice on the running of the organization from the CEO with regular updates and dialogue from all manager5 across the team throu8h presentations and discussion. The Head of Operation5 attends all bcard meetings to enable wider dialogue around operations and especially around the detail of the capital developments. Further strategic and scrutinizing delegated responsibility Is glven to the sub Net cash used in investing activities 464212} 182.9731 Cash Ilows from finaficing artivttles New loans in year Loan repayments in year ioo.soo 14,5741 17,4491 Net cash (used inllprovided by financing activities (17,449) 95,926 Change in cash and cash equlvalents In the reporti￿ period Cash and Cash equivalents at the beEinning of the reporting perfod 1260,591) 247,969 612,293 364,324 Cash and cash equivalents at the end of the reportlng period 351,702 612,293 The notes forni part of these financial 5tstements Page 34 Grimm And Co. Limited Notes to the Cash Flow Statement for the Year Ended 31 March 2024 RECONCIUATION OF NET INCOME TO NET CASH FLQW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period (as per the Statement of Financial Act6vitie51 Adjustments for: Depreciation charges Capital grants received Finance costs Ilncreaselldecrease in stocks Decrease in debtors Increase in creditors 734,994 773,655 12,388 (544,3701 14,250 1950,2981 2,48S 8,857 380,172 5.895 (3AIOI 3,520 18.348 Net cash provlded by operation5 221A170 235,016 ANALYSIS OF CHANGES IN NEf FUNDS At ty4123 Cash flow At 3y3124 Net cash Cash at bank 612293 (260,591) 351.702 612293 260,591) 351.702 Dèbt Debts falling duÈ within l year Debts falling due after I year (13,721} (82,2051 (13,721) 64,756) 17A49 (95.9261 17A49 (78.477) Total S16,367 1243,1421 273,225 The notes form part of these financial statements Page 35 Grimm And Co. Limited Note5 to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparlng the financial ststements The financial ststements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charrties SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable In the UK and Republlc of Ireland IFRS 1021 {effertive l January 20191,. Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Art 2006. The financial statements have been prepared under the historical cost convention. Grimm and Co. Limited meets the definition of a publ1¢ benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or trdnsartion value unless otherwise stated in the relevant accounting policy. Golng cOn￿rn The financial statements have been p￿pared on a going concern basis as the Trustees believe that no material uncertalnties exist. The Trustees have consldered the level of funds held and the expected level cf income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure Is sufficient, with the level of reserves, for the charity to be able to continue a5 a goin8 concern. Income All income is recogni5ed in the Statement of Financial Activities once the charity has enritlement to the funds, it Is probable that the income will be received and the amount can be measured reliably. Grants are Sncluded in the statement of financial artivitie5 on a receivable basis. The balance of income received for speclflc purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where In¢ome Is received in advance of entitlement of receipt, its recognition is deferred and Included In creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Expènditurè Expenditure 15 recognlsed once there is a legal or constructive obligation to transfer eccnomlc benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by artivity. The costs of each activlty a￿ made up of the total cf dlrect costs and shared costs, including support Costs involved in undert4king each actlvity. Direct costs attrlbutable to a single 3Ctlvlty are allocated directly to that activity. Shared costs which contrlbute to moro than one activity and support Costs which are not attributable to a sin8le activity are apportioned between thosè activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreciation charges allocated on the portion of the asset's use. Expendlture cn raising funds Includes all expenditure incurred by the charitable cornpany to ralse funds for Its charitable purposes and includes costs of all fundraisin8 activitles events and non. Limited Notes to the Financlal Statèments- continued for the Year Ended 31 Mar¢h 2024 19. MOVEMENT IN FUNDS- continued Comparatives for movement in fund5 Net movement in funds At 114122 At 3113/23 Unre5trirted funds General fund Building fund 334,321 261,139 13S,5701 298,751 261,139 595,460 135,5701 559,890 Restricted funds RMBC Creative Mentoring RMBC ACE small capital grant Esmee Fairbairn Trust Capital project The TudorTrust Paul Hamlyn Trust National Lottery community fund ACE Cultural Recovery Fund CIN BBC Small Grant Key Fund Grant and Loan UKCRF Future High Street Fund SYMCA Fit out Funding under £5,000 7,200 11,5321 1,927 120.798 110.3821 18,2521 18,9371 134,3231 12801 18,6241 1,398 49,241 155,8191 780,000 115,0001 9901 5,668 1,927 120,798 333 789,070 11,312 10,715 797,322 20,249 34,323 21,884 8,624 21,604 1,398 49,241 55,819 780.000 (15.000} 2,362 3,352 959,488 809.225 1.768,713 TOTAL FUNDS 1,554,948 773.655 2,328,603 Page 46 continued... Grimm And Co. Limited Notes to the naal Statemen - contlnued for the Year Ended 31 March 2024 19. MOVEMENT IN FUND5- contlnued Comparative net movement in funds, included in the above are as follows= Incoming resources Resources Èxpended Movement in funds Unrestricted funds General fund 234,343 1269,9131 135,5701 Restrirted funds RMBC Creative Mentoring RMBC ACE small capital grant Esmeè Fairbairn Trust Capital projert The Tudor Trust Paul Hamlyn Trust National Lottery community fund ACE Cultural RÈcovery Fund CIN BBCSrnall Grant Key Fund Grant and Loan UKCRF Future High Street Fund Work Wise Foundation Kick Start SYMCA Fit out Funding under £5,000 23,305 19,700 120,798 124.8371 117,7731 11.5321 1,927 120,798 110,382 18,2521 18,9371 134,3231 12801 18,6241 1.398 49,241 155.8191 780.000 110,3821 18,2521 18,9371 134,7801 1102,0841 18,6241 19,0911 12591 156,0711 457 101,804 10,489 49,51JO 252 780,000 6,926 16,9261 115,0001 17,5571 115.0001 19901 6,567 1,119,798 1310,5731 809,225 TOTAL FUNDS 1,354,141 1580.4861 773,655 Page 47 continued... Grimm And Co. Limtted Notes to the Financi I Statements. ¢ontlnued for the Year Ended 31 March 2024 19. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined position is a5 follows: Net movement in funds Transfers between funds At 114122 At 3V3124 Unrestrlcted funds General fund Building fund 334,321 261,139 14,809) 2.012,988 1207,7431 2,342,￿0 53.396 595,460 14,8091 1,805,245 2.395.896 Restrirted funds RMBC Creative Mentoring RMBC ACE small capital grant Esmee Fairbairn Trust Capital project The Tudor Trust Paul Hamlyn Trust National Lottery commun5ty fund ACE Cultural Recovery Fund CIN BBC Small Grant Key Fund Grant and Lcan UKCRF Future High Street Fund SYMCA Fit out Funding under £5,000 Changing Places 2023 Awards For All Trainees24 7,200 11,532) 121,3261 112,545 (10.3821 18,2521 {8,9371 3.454 13,622 18,6241 1,398 49,241 {55,8191 780,000 577,448 11,3481 75,000 19,950 12,9801 15,6681 21,326 1112,5451 13331 1789,0701 111,3121 10,715 797,322 20,249 34,323 21.884 8,624 37.777 35,506 11,3981 149,2411 55,819 1780,0001 577,448 3,352 12,0041 175,0001 19,950 959,488 1,513,458 11,805,2451 667,701 TOTAL FUNDS 1,554,948 1,$08,649 3,063,597 Page 48 continued... Grimm And Co. Limited Notes to the Financial Statements- continued for the Year Ended 31 March 2024 19. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combifted net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds unre￿riCted funds General fund 665.977 1670,7861 {4.8091 Restrlrted funds RMBC Creative Mentoring RM8C ACE small capltal grant Esmee Fairbairn Trust Capital project The Tudor Trust Paul Hamlyn Trust National Lottery community fund ACE Cultural Recovery Fund CIN BBC Small Grant Key Fund Grant and Loan UKCRF Future High Street Fund Work Wise Foundation Kick Start SYMCA Fit out Funding under £S,OCK) Changing Places 2023 Awards For All Trainees24 23.305 19,700 120.798 124,8371 141,0261 18,253 {10,3821 18,2521 18,9371 183,2431 1203,3901 18,6241 19,0911 12591 156,0711 11,5321 121.3261 112.54S 110,3821 18,2521 18,9371 3,454 13,622 18.6241 1,398 49.241 155,8191 780,000 86.697 217,012 10.489 49,500 252 780,000 6,926 592,448 7.524 75,OChJ 19,950 16,926 {15,0001 18,8721 577.448 11.3481 75,CUJ 19,950 12.9801 12,9801 2,009,601 1496,1431 1,513,458 TOTAL FUNDS 2,675,578 11,166.9291 1,508,649 RMBC Creative Mentoring A Contract with the Virtual Schools Service of the local authorlty enabling immediate payroll for freelance artists dellverln8 on the Creatlve Mentoring projert. The Big Lottery Fund This is the final months of a S year project wilh small extension throu8h the pandemic. The project enabled Grimm & Co to en8agÈ, support and develop volunteers and to reach families in communlties through taster activlties. Arts Councll England Capitsl Capital grant rocÈivÈd towards purchase and capital development costs. E5mee Faibairn Trust Salary costs and overheads to support the organisation to exp2nd its programmes to reach the most vulnerable children in Rotherham. Page 49 ontinued... Grimm And Co. Limited Notes to the Fina cial S tements- continued for the Year Ended 31 March 2024 19. MOVEMENT IN FUNDS- ¢ontinued The TudorTTUSt Core costs to support Grimm & Co to develop outreach and engagement in the communities to deliver crèative. en838ing artivitie5 to the most marginalized children and young people. Paul Hamlyn Trust Support delivery of effective arts based teachin8 and learning opportunities in the prlmary classroom to build teacher's creaiive confidence and to embed learning through arts in the curriculum. National Lottery Community Fund Spotlights and Stepping Stones.. Funding support to reach and engage people in the role of volunteering with meaningful experiences. training support and socials. This is also enabling Grimm & Co to develop wider partner5hlp5 wlth external a8encies, work direttly with communities and to develop a suite of family learnlng actwities to build the capacity of parents, carers and people who work w5th young chlldren. ACE Cultural Recovery Fund Support to enable business and operational continuity and revised delivery during challenglng times posed by the pandemic. BBC Children in Need A small, discrete projett enablin8 artists to deliver out of school programmes and weekend activities for children across the borough wlth a strong emphasls on those most mar8in3lized and experiencing disadvanrage. A focus on safety and volce. RELOAD Grant Funds made available through SYMCA to Èmploy and engage local artists, creatin8 culturally relevant, innovative resources and sltes then dellverlng a range of taster attlvlries thar introduce a diversity of arts dlsclplines through story tellin8. UKCRF Funded as a part of wider Rotherh3m con50rtium to work collaboratively acro￿ 7 projects and to deliver three festivals, recruit, engage, train and support 6 Young Producers wlth care experlence Sn theirfirst workplace. YEF A project that enables support to young people - from tssters to learnin8 programrnes, providing a sample of the use of creativity in learning. ACE Day to Create A commi55i0n with the Arts Council to create an interattive. innovative leaming pack that could be made and distributèd out to all Art Mark Schools across the country. Capltal Project Capital grant received towards purchase and capital development costs. RM3C RMBC support our Creative Mentoring project whereby vulnerable young people are matched with and supported by creative practitioners. Page 50 ontinued.. Grimm And Co. Limited Notes to the Financial Statements- Colltinued forthe Y r Ended 31 March 2024 19. MOVEMENT IN FUNDS- (ontinuod ACE srnall capital grant Arts Council En8land supported Grimm & Co with a Small Capitsl Grant to help fund the renovation works to create ethe Emporium of Stories. Key Fund Provided social investment in the form of a lean and grant package, to help Grimm & Co with the projert to fit out of the Emporium of Stories. Future High Street Fund Supported Grimm & Co with a grant toward5 the renovation works to create the Emporium of Stories. The Work-wlse Foundatlon Helps employers tske the lead in preparing young people for employment and rewarding careers. Work-wise supported an apprenticeship placement at Grimm & Co. South Yorkshire Mayoral Combined Authority Provided asslstanco In conjunction with Key Fund above to fund thè fit out in order to develop the disused Talbot Road Church into the Emporium of Stories. The negative restricted fund balance this year relates to the salary costs for the project manager which occurred during the year. All costs will be recovered during 2023124. Funding under £5,000 Other restrlcted monles glven to the charity for speclfTc purposes. Changing Places 2023 This gr3nt enabled Grimm and Co. L¢mited to inst211 a full disabled changing facility complete with hoist and Shower meanin8 that all visitors to the premi5e5 (an use the bathroom with di8nlty. Awards for All A projett grant from Arts Council £ngland working towards the Festival of Stories 2025. Transfers between funds Transfers to restricted funds from unrestrirted funds represent minor overspends on projects which have been supplemented through unrestricted reserves. Transfers from restrlcted funds to unrestricted funds represent projects whlch have beer completed and are deemed to have satisfied the funding criteria. Transfers of restricted funds balances to unrestricted fvnds represent those that are fully spent and relatin8 to capital costs for the developmeftt of properry which do not hold a restriction followin8 the spend. PageS1 continued... Grlmm And Co. Limtted Notes to the Financial Statèments- continued forthe Year Ended 31 March 2024 20. RELATED PARTY DISCLOSURES The charitable company has not entered into any related party transactions during the year, nor arè there any outstanding balances owing betsveen related parties and the charitable company at 31 March 2024. 21. AMENDED FINANCIAL STATEMEKrs These financial statements are revised to amend wording in the Report of Trustees relating to free resetves on Page 23, to 8ive 8reater clarity to the financial position of the eh3rity. The revised financial staternents replace the original financial statements for the financial year ended 31 March 2024, and are now the statutory financial statÉments fctr that year. The revlsed financlal statements have been prepared as at the datè of the original financial statements, and not as at the date of revision and accordingly do not deal with events between those dates. Page 52