Charity Number: 1158781 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS (Registered under the Charrties Commission for England and Wales) Financial Statements for the year ended 31 December 2023 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Legal and Administration infonnation for the year ended 31 December 2023 Company Number: 08313916 Charity Number.. 1158781 Tr￿ta•s. Miss Sharan Jaswal Mr Federico Bolza Mr James Nicholas Emtage Ms Collette Philip Miss Nana-Efua Lawson Mr Simon Marlow {appointed 19th February 2024) Secretary: Jennie Cashman Wilson {resigned 31 St August 2023) Felix Andrew {appointed 1￿ June 20241 Registered Offi¢0: Piccadilly Business Centte Unit C Aldow Enterprise Park Blackett Street Manchester M12 6AE Independent Examln•rs: Spicer & Co UK Limited Staple House S Eleanor's Cross Dunstable LU6 1SU Bankers.. Barclays Bank 18 Islington Green London N1 8EH ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Trustees Report for the year ended 31 December 2023 • NuM￿r 1-3 Report of the Council Independent Examiners. Report Irbcome and Exp8nditur& Account Balance Sheet 7t010 Notes to the Financial Statement8 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Trustees Report for the year ended 31 December 2023 Trustees Re The trustees confirm that they have referred to the guidance contained in the Charity CommSssion's general guidance on public benefit when reviewing the charity's alms and objectives and in the planning and dellvery of our current and future activf(ies. The charitles objective is to advance the education and training of the ptjblic by promotln& fostering and encouraging the knowledge, understandin& performance and appreciation of the arts and in partlcular the art of music in all its forms. The Trustees, who are a150 directOT5 forthe purposes of company law, have pleasure in presenting their report and the financial statements for the charitable company for the year ended 31 December 2023. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended practi￿ aPpI￿able to charities preparing their accounts in accordance with the Financial Reporting Stsndard applKable in the UK and the Republlc of Ireland IFRS 1021 (effective l January 20191. Ob" thies and AclIvl￿eS Our programmes For young people.. Future Sound Aspirational and accessible in-school music education workshop5, perfornian￿5 and recording opportunities, palring 11-18 year old's with relatab5e. emerging professional muslclans. FU￿re Sound outcomes Include.. l. Musical Improved aural and composition skills Improved selF-belief and confidence in thelr musical abilities and performing A greater understandlng of the musiclcreatlve Industrles as a whole. Personal Improved mental health and wellbeing Increased communicatlon and teamwork Increased resilience and se￿-confIdence Increased aspirations and broader horizons. Social More 051tNe eer networks awKI relationshi rofessional musicians: Career Development Programme Supporting emerging professional mu5ician5 from diverse and underrepresented groups with personali5ed career Strategy, mentoring and CDachin& to build sustalnable portfollo careers= http5:/labramwilson.¢om/careerdevelopment roved soft skills and increased em abilbt or ment Pro amme outcomes Indude: r and industr Increased understanding of how to develop and manage their career5 Increased confidence in their abilty and careers Page11 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Trustees Report for the year ended 31 December 2023 Access to more high-profile opportunities to perform and share their work Industry recognition foi their work Increased profe55ional networks. 2. Personal Improved mental health and wellbeing Strong peer network5 Upskillin8 as music educators Achievements and Performance During 2023, we continued to delNer our flagship music education programme, Future Sound. We conduded our work with Mossbourne Community Academy in Hackney with recording sessions at Premises Studios and Strongroom Studios and a performance at Church of Sound, in Hackney. We continued the expansion of our Future Sound programme in Manchester, partnering wf(h CO-OP Academy Manchester in the spring temi to deliver workshops. a Composriion Day at the Yard for students to experien￿ the working life of a musician, two performances at Co-op Academy M8nchester to 500 students, and a public performance at the Yard, by students and workshop leaders. Following the success of Future Sound in London and Manchester, we cot)tinued to develop the programme and partnershipsi by rewrrting the programme with music education specialist Adam Saunders, to ensure it's even more accessible to young people who have no background in playing mLbSiC, and by devek)ping a multi- year partnership with Co-op Academies Trust, which will see us roll out Future Sound to slx schools In 2024 and eleven schools in 2025. In London, we developed a partnership with Newham Music Service to roll out programmes in Newham secondary school5. Our career development proBramme for emerging professional musicians from diverse and minoriti5ed groups a150 Continued via showcasing OPPOrtuntties for emerghn8 musicians, includlng We Out Hefe in August and the Becomin8 Brave book launch event in November, the continued promotion of artists. releases and concert5 and the piloting of an online career devekjpment programme in which 16 musicians participated in a series of 4 live mentoring ca115. Career development alumni also received opportunities to train and deliver workshops for our music education programmes. In addition, three outstanding musicians- Ashley Henry, Jas Kay5er and Sans Souci5- became our new Abram Wllson charlty ambassadors in 2023. In Au8ust 2023, Jennie Cashman Wllson stepped down as CEO after founding the charity and 11 years at the helm. Oliver Carruthers took on the role of Interim CEO, whilst we finalised our recruitment plans for new permanent leadership forthe charrty, including the appointment of a new Creative Director and new Executive Director. During the period, we commttted slgnificant energy to establishing operational and governance changes following Jennie's departure with a prlmary focus to both core and project fundingto support the orBanisation. Funding was secured from a range of funders includinB Arts Council England, the Postcode Society trust and Shears Foundation to enab￿ u5 to continue our work into 2024 and beyond. We are e5pe¢ialty Brateful to our funder5 for supporting our work. including.. 29th May 1961 Charitable Trust Arts Councll England Ashley Family Foundation Page12 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Trustees Report for the year ended 31 December 2023 The Childhood Tw5t Foyle Foundation Garrick Charitable Trust Hackney Council The John Thaw Foundation M&G Community Fund The Peter Cundhill Foundatlon Postcode Nevdhbourhood Trust The Shears Foundation The Vintners Company The Worshipful Compèny of Weavers The William Wates Memorgl Trust Youth Music We are also grateful to our supporters and donors for their continued interest in the work of the charity- Page13 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Independent Examiners. Report to Abram Wilson Foundation for Creative Arts Year ended 31 December 2023 Independent examiner's report to the trustees olABRHAM WIL50N FOUNDATION FOR CREATIVE ARTS Ilhe Company,) l ￿port to the charity trustees on my examination of the accounts of the Charitable Company for the period 1st January 2023 to 31st December 2023 which a￿ set out on pages 3 to 8. Responslbllities and basls of report As the charity's trustees of the Charitable Company land a150 it5 dirertors for the purposes of company lawl you are re5pofisible for the preparaiion of the accounts in accordance with the requirements of the Companies Act 2Th)61'the 2006 Act'l. Having satb5fied myself that the accounts of the Company are not required to be audited under Part 16 Df the 2006 Act and are eligible for independent examination. I report in respect of my examination of your chartty's accounts as carried out under section 145 of ihe Charities Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Indèpendent examlner's ststement I have completed my examination. l confirm that no matter5 have come to my attention in ¢onne¢tion with the examination giving me cause to ￿lIeve.. accounting records were not kept In respect of the Company as required by section 386 of the 2006 Act- or the accounts do not accord wrth those records- or the accoun15 do noi comply with the accounting requirements of section 396 of the 2006 Art other thzn any requirement that the accounts give a true and fair view which is noi a matter consi(lered as part of an independent examination. or the accounts have not been prepared in accordance with the methods and prln¢iples of the Statement of Recommended Practice for accounting and reporting by charrties lapplicable to charities preparin6 their accounts in accordance wlth the Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connertion 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. Suzanne Spicer FCA Spicer & Co UK Limited Staple House 5 Eleanor's Cross Dunstable Bedfordshire LU6 15U Date Page14 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Income and Expenditure Account for the year ended 31 December 2023 Note5 Unrestricted Funds Restrlcted Funds 2023 2022 Income and endowments from: Donations and legacies Other trading activities 97,274 35,402 71,604 168,878 35,402 243,644 15,725 Totsl Income 132,676 71,604 204,280 259,369 Expendlture on: Raising Funds Charitable activities Total Expenditure 1.031 153,975 155,006 1,031 226,271 227,302 4,681 251,095 255,T16 72,296 72,296 Net lioss}IProfit 122,330) {692) (23,0221 3,593 Total funds brought forward Total funds carrled forward 54.965 27.397 82,362 78,769 31635 2Q705 59,340 82,362 The notes on pages 7 to 11 fomi part of these financial statements Page15 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Statement of Financial Position as at 31 Decembar 2023 Notes 2023 2023 2022 2022 Current Assets Debtors Cash at bank and in hand 1,041 67,840 68,881 82,362 82,362 Creditors Amounts falling due wf(hin one year 19,5411 Net Current A55ets 59,340 82,362 Total Assets Less Current Liabilities 59.340 82.362 Net Assets 59,340 82,362 General Funds Unrestricted income funds Restrlcted income funik Total Funds 32,635 26.705 59.340 54,965 27,397 82,362 These financial statements were approved by the Commlttee members beh)w on behalf ofthe Committee on 8 August 2024. C Philip (Chairl The notes on pages 7 to 11 fomi part of these financial 5tatementS Page16 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Notss to the for the year ended 31 December 2023 l. A¢¢ountin8 Policie5 Basis of Accountlng The Financial Statements have been prepared under the historKal cost convention, and in compllance with United Kingdom Accounting Standards, including FRS 102 (The Flnancial Reporting Standard applicable in the United Kingdom and the Republic of Ireland) and the requirements of the Co-operative and Community Benefit Societies Act 2014. Revenue reco8nition Revenue is measured at the fair value of the conslderation ￿CeNe￿ or recelvable and represents the amount re￿iVed for service5 rendered, npt of return5, di5rounts and rebate5 allowed by the Society and value added taxes. Grants Income from grants are shown as amounts actual￿ reteived. Income from grants for assets are shown in the year received, where the assets are purchased in the same year. Government grants are recognlsed when there is reasonable assurance that the entity wlll comply with the conditions attaching to the grant and the grant will be received. Debtors Short term debtors are measured at transaction price Iwhich 15 usualty the invoice pricel, less any impalrmeni losses for bad and doubtful debts. Loans and oiher financlal a55ets are initially recognised at transactlon pdce Includlng anytransaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairnient losses for bad and doubtful debts. Credltors Short term credr(ors are measured at transaction pri￿ (which is usualtythe invoice pricel. Loan5 and other flnèncial liabilities are inTtially recognised at transaction price net of any transactlon costs and subsequently measured at amortised cost determined using the effective interest method. 2. Income from donations and legacies Unrestricted funds Restricted funds 2023 2022 Donations received 32,767 64,507 97,274 29,762 41,842 71,604 62,529 44,￿2 106,349 199,642 168,878 243,644 Grants received Page17 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Notes to the for the year ended 31 December 2023 3. Income earned from other acthiltles Unrestricted funds Restricted funds 2023 2022 Fund raising events Other activltles for generatlng funds 2,934 32A68 35,402 2,934 32,468 35,402 11.725 15.725 ExpeNllture ¢)n othertradlng acd¥ltles Unrestricted funds Restricted fund5 2023 2022 Fund raising events 1.031 1,031 1,031 1,031 4,681 4,681 5. Debtors 2023 2022 Prepayments and accrued Income 1,041 1,041 & Credltors: Amounts falllng due within onfryear 2023 2022 Trade creditors Accruals 8,041 1.500 9,541 Page18 ABRAM WILSON FOUNDATION FOR CREATIVE ARTS Notes to the Financial Statements for the year ended 31 December 2023 7. Movement in Funds