## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** Financial Statements For the year ended 31[st ] December 2020 Registered Charity Number. 1158781 Company limited by guarantee. Registered in England & Wales Number. 08313916 1 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** ## **Contents for the Financial Statements** ## **For the year ended 31[st] December 2020** |Legal and Administrative Information|3| |---|---| |Trustees'/Directors’Report|4-14| |Statement of Trustees/Directors’Responsibilities|15| |Statement of Financial Activities|16| |Balance Sheet|17| |Notes forming part of the financial statements|18–19| |Independent Examiner’s Report On The Accounts (Charity Commission)20|| 2 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** **Legal and Administrative Information for the year ended 31[st] December 2020** Company Number: 08313916 Charity Number: 1158781 Registered Office: KEMP HOUSE 160 City Road London EC1V 2NX Trustees: Sharan Jaswal Federico Bolza Anna Corbet Secretary: Jennie Cashman Wilson Accountants: Blue Sky Consulting Ltd 3rd Floor 86-90 Paul Street London EC2A 4NE Bank: Barclays Bank 18 Islington Green London N1 8EH 3 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** ## **Trustees’/Directors’ Report** ## **For the year ended 31[st] December 2020** The trustees/directors present their report and the unaudited financial statements of the company and charity for the year ended 31st December 2020. ## **Objectives and activities for the public benefit** The principal activity of the company in the period under review was that of undertaking charitable activities which fulfil the objects of the charity. The object of the Abram Wilson Foundation for Creative Arts is to advance the musical education and training of the public by promoting, fostering and encouraging the knowledge, understanding, performance and appreciation of the arts and in particular the art of music in all its forms. ## **Our Purpose:** The Abram Wilson Foundation inspires, connects and opens doors to the music industry so that young people from disadvantaged and diverse backgrounds have an equal chance to realise their creative potential. ## **Our Vision:** A music industry that genuinely reflects the best image of our society so any young person is able to see it as a place for them and can participate in, and collectively contribute to the next generation of talent. ## **Our Values:** We continue Abram’s legacy through our programmes of music e ducation and artist career development through which: - We challenge inequality, - _Promoting inclusivity and equity in music._ - We pay it forward, _Sharing our knowledge, skills and networks with the next generation._ - We work tirelessly, _To encourage young people to find and use their creative voice._ - We are champions, _Of untapped, undiscovered and unrealised talent._ 4 ## **Our Programmes:** **Future Sound Digital** - engaging and accessible online music education content by up and coming, inspirational relevant musicians: https://abramwilson.com/futuresounddigital **Future Sound Live –** aspirational and accessible in-school music education workshops, performances and recording opportunities: https://abramwilson.com/futuresoundlive **– Career Development Programme** professional 18-month development programme which supports 12 emerging professional musicians to build sustainable portfolio careers: https://abramwilson.com/careerdevelopment ## **Future Sound Musical Ability Outcomes:** - Improved aural and composition skills - Improved music performance self-efficacy - A greater understanding of the music/creative industries as a whole ## **Future Sound Personal Outcomes:** - Improved mental health and wellbeing - Improved healthy coping mechanisms (e.g. self-expression through songwriting) - Improved/more positive outlook - Increased communication and teamwork - Increased resilience and self-confidence - Increased aspirations, and broader horizons ## **Future Sound Social Outcomes:** - Improved/more positive peer networks and relationships - Increased employability (with emphasis on the creative sector, but also learning the soft skills that are integral in any job or social setting) ## **Career Development Outcomes:** - Increased understanding of how to develop and manage their careers - Increased confidence in their ability and careers - Access to more high-profile opportunities to perform and share their work - Industry recognition for their work - Increased professional network - Be upskilled as music educators ## **Achievements and performance** At the start of 2020 none of us could have planned for Covid-19 or the impact it would have on our work, music and the wider arts. From January to March 2020 we delivered our flagship **Future Sound Live** music education project, where jazz musicians provide music and composition workshops for young people with musical potential, who have barriers to accessing music outside of school. This project followed a successful pilot in 2018 with Kokoroko band at Mossbourne Community Academy in Hackney. 5 In 2020 our Future Sound Live project with SEED Ensemble was led by Cassie Kinoshi, with a new cohort of students from Mossbourne Community Academy and in collaboration with Church of Sound. Following the start of the Covid-19 pandemic, we conducted a needs assessment and consultation with key stakeholders to assess how we could pivot our programmes to continue to support targeted young people to be able to access music education. As a result, we launched **Future Sound Digital** in Autumn 2020. Future Sound Digital provided a series of online and accessible music education tutorials, launched on our new Instagram and YouTube channels. Professionally filmed tutorials were delivered by professional musicians, Oscar Jerome, Arji Manuelpillai and Sans Soucis. An enhanced programme including interactive sessions was delivered to targeted students at Mossbourne Community Academy in Hackney. We also grew our Career Development Programme, which identifies and supports emerging professional musicians who have talent but lack the expertise and networks to create a sustainable career due to socio- economic and mental health factors. It provides quarterly strategy sessions and monthly coaching, to provide support and develop their strategic planning. The programme is person-centred, as the needs of each participant in the programme are agreed individually through the sessions and focused on their individual career journey. Additionally, the artists are provided with access to industry professionals and a minimum of one showcase opportunity during the programme. Artists can also participate in our music education programme which provides them with paid opportunities. **In 2020 we supported 16 artists** with regular strategy and coaching support in 2020 led by our founder and certified RD1st coach, Jennie Cashman Wilson and chairman of our board of trustees, Fred Bolza former VP of Strategy at Sony Music. Four artists joined the programme in 2018: Sheila Maurice-Grey; Cassie Kinoshi; Spencer Martin; and Tyrone Isaac-Stuart. Women in Jazz (Lou Paley) and Nina Fine joined the programme in October 2019. An additional three artists were offered support during the Covid-19 pandemic, on an ad-hoc basis, in response to the greater need in this period. **Seven artists** supported our Music Education Programme. Women in Jazz, Nina Fine and 10 new artists were invited to join our 2020 programme, starting in November 2020. Barriers to the music industry disproportionately affect those from disadvantaged and diverse backgrounds; 95% of workers in London in the creative industry come from advantaged backgrounds and those from diverse backgrounds constitute only 23% of the workforce (Pinoncely, V. and Washington-Ihien. (2019). Covid-19 has exacerbated these barriers. Lockdown has had a disproportionate economic impact on Black, Asian and minority ethnic (BAME) groups (Hu, 2020). Furthermore, due to the huge financial impact of lockdown on the music industry 64% of musicians are considering leaving the music industry (Encore Musicians, 2020). A recent survey of musicians showed that personal connections, a supportive social circle and mentorship are critical in sustaining a career as a musician (thecreativeindependent.com). Moreover, over two thirds of musicians said they made less than 20% of their income from music-related work. As such, paid 6 opportunities, including teaching, are required to enable musicians to financially sustain their career. We conducted a needs assessment in 2018 with musicians who identified they needed more long-term strategic support, practical industry advice, introductions to contacts and mentorship. They reported that financial constraints were a barrier to pursuing a career in the music industry. The Career Development Programme was launched in 2018 in response to this need. The executive summaries below provide a snapshot evaluation of the Future Sound projects and our Career Development programme from January 2020 to December 2020. 7 IDr*nJg)(n< 3omKyN) 137J CO o co (n o c) co CO ry 3 w nD tD oc ￿C0 ooo E17J o oxoo (n (o g) J (T(nJ30 Z (D-(nrnO <03(n*rtrCL< JJ 7J n coiJ n T> U) TJ rnnrn >T7>>￿T0 ￿(D (n NJ cjn X rn rri (n*< rri (no*(D no ID CL tT) ¢Tr lil TJ VTr fD rno rD J In ## **Review** Incoming resources for the year totaled £148,782 of which £72,748 was for restricted purposes. ## Reserves Policy The charity carries forward any unspent restricted and unrestricted funds at the year end to fund eligible expenditure in subsequent years, where it is permitted to do so. Where conditions stipulate that funds cannot be carried forward, they are fully spent in year. As we move towards a multi-year funding model we working towards a reserves policy of three months of operating costs. ## Principle Sources of Funding The Abram Wilson Foundation is funded by a combination of trusts and foundations, earned income and donations. In 2020 over 80% of our income came from trusts and foundations, all of which were one-off grants. ## Risk Management The trustees have assessed the major risks to which the Abram Wilson Foundation is exposed and are satisfied that systems are in place to mitigate exposure to those risks. Internal risks are managed by following the policies and procedures drafted by our team and approved by the trustees covering equal opportunities, safeguarding, individual project risk assessments (including health and safety), trustee code of conduct, ethical fundraising, complaints, data protection, privacy and financial procedures. Risks include: Covid-19 and the impact this has had on schools, the live music industry and the funding landscape. Reliance on one-off project grants from trusts and foundations. We aim to mitigate these risks by prioritising: - A multi-year funding strategy supported by a 5-year organisational strategy - • Mutually beneficial corporate partnerships working in relevant sectors such as the music industry - Updated visual identity and website to help us fundraise more effectively and reach more beneficiaries online - The continuing development of Covid-proof accessible digital programmes - • The continuing improvement of our monitoring and evaluation processes to ensure that our programmes are needed, impactful and of high quality - Our board of trustees, ensuring we have board members from underrepresented backgrounds who have the expertise and networks to help us achieve our strategic and financial goals 11 No significant risks were identified during this year’s review. ## **Structure, governance and management** ## Governing document Abram Wilson Foundation for Creative Arts Limited is a company limited by guarantee governed by the Memorandum and Articles of Association, as dated 30th November 2012 and amended on 9th May 2014. Registration with the Charity Commission was confirmed on 6th October 2014. Membership to the company is by approval by the trustees. In the event of the Company being wound up, each of the Members is required to contribute an amount not exceeding £10. ## Governance The Directors of the Company, for the purposes of company law, are also Charity Trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association, the trustees are elected to serve for a period of up to three years after which they may be reelected at the next Annual Retirement Meeting. Further trustees may be appointed as required to ensure a balance of experience and expertise to be used for the benefit and furtherance of the Charity and its objects. New trustees will receive a full induction to the Abram Wilson Foundation and their responsibilities as a charity trustee. ## Management The Abram Wilson Foundation’s 20 20 team consists of: - Jennie Cashman Wilson – Founder & CEO - Ali Birtwell – Head of Marketing and Communications - Lucy Watkins – Head of Impact and Programmes - Lori Casero – Development Manager - KEDA – Trust Consultant ## Related parties The Abram Wilson Foundation has no related parties. ## **Future Plans** Our strategic priorities for 2021-2026 are: ## **Increase our reach and impact as an organisation by:** 12 - Extending our reach across the UK so that we are not just London-centric but can meet young people where they are and reach the areas of biggest inequity/disadvantage - Establishing our brand so that we have the recognition, credibility and authority to challenge the industry and demonstrate the long term and wider impact of our work - Developing mutually beneficial, multi-year fundraising partnerships - Building an intergenerational community of ambassadors that can spread the word and uplift and support each other **Improve our programmes so that they meet the changing needs of young people and musicians by:** - Building stronger feedback mechanisms between our organisation and young people so that we can identify and respond to barriers consistently - Creating a clear pathway for young people in schools and their future career in music between our programmes - Increasing our capacity and expand our strategic partnerships so that we can better support young people and up and coming musicians from underrepresented backgrounds - Investing in digital resources and channels to expand our reach across our programmes - Being on the forefront of the music industry so that we help musicians find innovative ways to navigate structural inequality and succeed on their own terms ## **Public Benefit Statement** The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit: _Charities and Public Benefit_ . The Abram Wilson Foundation for Creative Art s’ charitable purpose is to to advance the musical education and training of the public by promoting, fostering and encouraging the knowledge, understanding, performance and appreciation of the arts and in particular the art of music in all its forms. These financial statements have been prepared in accordance with the Statement of Recommended Practice Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities. 13 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006. Approved by the trustees on …… 04.06.2021 …………. and signed on behalf of Federico Bolza (Chairman) Board of Trustees/Directors Date 04.06.2021 14 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** ## **STATEMENT OF TRUSTEES'/DIRECTORS’ RESPONSIBILITIES** The trustees/directors are responsible for preparing the annual report and the financial statements for the year ended 31[st] December 2020 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company and charity law requires trustees/directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees/directors are required to: - Select suitable accounting policies and then apply them consistently - Observe the methods and principles in the Charities SORP (2005) and FRS 102/FRSSE - Make judgements and estimates that are reasonable and prudent - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Small company provision** This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 to small companies, and specifically FRSSE 2015. **On behalf of the Board** Federico Bolza (Chairman) Board of Trustees/Directors Date 04.06.21 15 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** ## **STATEMENT OF FINANCIAL ACTIVITIES, INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT** ## **For the year ended 31[st] December 2020** 16 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** ## **BALANCE SHEET** ## **For the year ended 31[st] December 2020** |**CURRENT ASSETS**
Debtors
Cash at bank and in hand
**NET CURRENT ASSETS**
**CREDITORS**
Amounts falling due within one
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**FUNDS OF THE CHARITY**
Endowment funds
Restricted income funds
Unrestricted funds
**TOTAL FUNDS**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total this**
**year**
Notes
**£**
**£**
**£**
**£**
0
0
0
0
23,784
17,039
0
40,822
23,784
17,039
0
40,822
year
0
0
0
0
23,784
17,039
0
40,822
23,784
17,039
0
40,822
5
0
0
17,039
17,039
23,784
23,784
23,784
17,039
0
40,822|**Total last**
**year**
**£**
5,618
17,909| |---|---|---| ||year
5|| |||23,527
0| |||23,527| |||23,527| |||0
16,545
6,982| |||23,527| The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit. The Trustees/Directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies’ subject to the small companies regime and in accordance with FRSSE SORP. These financial statements were approved by Trustees/Directors as follows: **Federico Bolza (Chairman) Board of Trustees/Directors** Date 04.06.21 17 ## **ABRAM WILSON FOUNDATION FOR CREATIVE ARTS** ## **NOTES TO THE FINANCIAL STATEMENTS For the year ended 31[st] December 2020** **Notes to the Financial Statements Year Ended 31st December 2020** ## **1. ACCOUNTING POLICIES** - 1.1 Basis of measurement and preparation of accounts These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland for small entities (FRSSE) and with the Charities Act 2011. The charity constitutes a public benefit entity. ## **2. INCOME** Recognition of income These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - it is more likely than not that the trustees will receive the resources; - the monetary value can be measured with sufficient reliability. ## **3. EXPENDITURE** |**Expenditure on raising funds:**
Direct expenses
Sundries
Hire charges
Payments to contractors
Oher expenditure
**Total expenditure on charitable activities:**
**Analysis of expenditure**
Incurred seeking grants and donations
Advertising, marketing, direct mail and
publicity
Other trading activities
**Total expenditure on raising funds**
**Total expenditure**
**Expenditure on charitable activities:**|**Unrestricted**
**funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**
**£**
**£**
**£**
27,312
9,755
0
37,067
3,556
0
0
3,556
0
0
0
0|**Prior year**
**£**
32,275
63
0| |---|---|---| ||**30,868**
**9,755**
**0**
**40,623**
14,639
11,707
0
26,346
0
0
0
0
568
0
0
568
3,274
50,793
0
54,067|**32,339**
28,054
0
541
48,302| ||**18,481**
**62,500**
**0**
**80,981**
9,883
0
0
9,883|**76,897**
6,411| ||**59,233**
**72,254**
**0**
**131,487**|**115,647**| 18 Not* to the Fkn*nclal Statemenb¥ 4. STAFF R8IUNERATDN No ￿npb￿S ffjcwved eryh)yw excwthng £￿).1))0 in tre ￿rK)d Thls y•*r La8t yéar Saarie5 w•Je5 Sccwl se¢wty costs Total •taY ¢￿ts 37.8)0 3&640 640 5. CHARITY FUNDS .1 Detai& of￿￿ter￿ luTh15 Tr￿k1 and r￿v&￿entsd￿in (xtin Typ• Fund (Restrl¢Xgdl bo¥nce Unr&str*tsdl Purp08• browht endwmrffjtl R•4¢rktlon• forward IncoTh EJwnd1￿r* forward Fund b8¥nce8 Fund n•mo• 29th May ch￿rta)￿ Trust EdJcaKsn Restriclgj prrorarnme EOJc*vJn Restricaaj prC¥jran￿8 EOJc*w)n Rètstrid*l prryJrarTm• Edjcknn Restrict￿ prryrdrnme 2211 -2211 3.OlX> PRS for Musk 1.4 -6A 4.OLX) Arts C￿￿11 21,￿3 -34,431 y￿th Mu5 9&Y) -9fiQ) StJames' Pla￿ FOl￿d￿n Restrirt￿ prrqrarnme EOJc*w)n 6.4 -6.4 A5tr4ey F￿ty 5,OD) MGt*rf8 Wooj Ethc&w)n 5,OCKI ot￿r Iwds 89.249 -72,X19 23,S22 Tota funds por balx• shDo1 527 148 7B2 5.2 Detals of rnabrHI fuKls hdd and rrDverrBnts dlr the F*EvI￿s- rbn Fund (R•8trf¢tsdi balance8 Unro*tri¢lbd PwpoJ• •TrJ brtyJf* Eb¥JtyAtm•ntl R••trlcOon• I￿•m• Exp•Th*two Fund balances ¢arth•d for*anl Fubwj nam08 29th Char¢ableTrust -3.789 2.211 PRSfor Must 73 -3.637 1.436 EOJC4ttsi Arts Councl 7,465 25,360 -19,927 12,898 Pwdentsl Srn81 1>8rts 250 -250 BrftTru8t 21 -200 EOJC4ttsi sh￿lY FoLndati( Wllam Watss M*mtro1 Trust R8*¢tad -24.979 15.C 9.979 Petw Cundll UnTrslrii*ed P*>trBEtrr* 69 7,721 -7,7￿1 EOJC4tpJl l>eerw￿hcQrnrnunfyArtS Athley Foundati)n 461 Sartandef EOJC4ttsi V￿tnerS Canpany Fdn ()herfund5 nla 36,246 42,208 -71,472 6,982 T**On accounts for the year ended**
**Set out on pages**|Charity Name
Abram Wilson Foundation for Creative Arts|Charity Name
Abram Wilson Foundation for Creative Arts|Charity Name
Abram Wilson Foundation for Creative Arts| |---|---|---|---| ||||| ||31stDecember 2020|**Charity no**|1158781| ||||| ||16-19||| I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31 / 12 / 2020** . **Responsibilities and basis of report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - • the accounts did not accord with the accounting records; or • the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **Signed: Date:** 11[th] April 2021 **Name:** Victoria Hart-Dale **Relevant professional qualification(s)** Institute of Chartered Accountants in England And Wales (ICAEW) **or body (if any):** 20