## **Annual Report and Financial Statements** Year ending 31 August 2024 |**Contents**|| |---|---| |**Trustees’ Report**|**2**| |Annual Report|3| |Financial Review|16| |Governance|19| |**Independent Auditor’s Report**|**24**| |Independent auditor’s report|25| |**Financial statements**|**29**| |**Notes to the fnancial statements**|**33**| |Accounting policies|34| |Notes to the fnancial statements|36| |**Acknowledgements**|**42**| **“Just imagine if every 13–16 year old in the country had the opportunity to attend free Saturday classes”** **John and Frances Sorrell,** Founders **Trustees’ Report – Annual Report** **3** ## Annual Report ## **“I feel important and special – like I can achieve anything!”** **Club member,** University of Derby ## **The Trustees have pleasure in presenting the Trustees' Report for the 12 month period ended 31 August 2024 (2023/24)** The Saturday Club Trust is an independent charity set up in 2016 to take over the development of the National Saturday Club from The Sorrell Foundation, originally established in 2009 by Sir John and Lady Sorrell. The National Saturday Club gives 13–16-year-olds nationwide a unique opportunity to study subjects they love for free, on a Saturday at their local university, college or cultural institution. Club members attend weekly Saturday classes led by expert tutors in their local community, and take part in national events throughout the year including visits to leading cultural institutions; Masterclasses with industry; a Summer Show exhibition of all Club members’ work; and a Graduation Ceremony. A remarkable national network of further education, higher education, the cultural sector, and industry works together in partnership to deliver these enriching extracurricular activities. With a particular focus on engaging young people from under-represented backgrounds, the National Saturday Club’s established model has proven impact. The programme offers a transformational opportunity to build versatile and creative skills, develop confidence and discover pathways to further study and future careers. ## **Club year in numbers 2023–24** **106** Saturday Clubs hosted by a committed national network of universities, colleges and cultural institutions **2,155** young people **80** host institutions ## **387** tutors - **111** student assistants **175** industry professionals - **670+** schools across the country had young people participating in the programme - **76%** of Club members were from a widening participation (WP) background **13,440** outreach contacts were made by our national Outreach Team to support Club member recruitment - **3,023** visited the Summer Show at Somerset House - **75** organisations and institutions engaged with by Saturday Clubs within their local communities - **69** Masterclasses have been generously led by a wide range of inspirational individuals and dynamic teams across a breath of industry sectors **Trustees’ Report – Annual Report** **4** ## **Statement from the Chair of the Board of Trustees** ## Sir Nigel Carrington **Since 2009, when the National Saturday Club was established by Sir John and Lady Sorrell, we have grown with the generous support of Arts Council England, DCMS, philanthropists, trusts, foundations and our wonderful national partners. Together, they have enabled us to expand our early national network of Art&Design Clubs into other areas of vocational experience which schools generally cannot offer.** The strength and distinctiveness of our national network of Saturday Clubs lies not only in its focus on its collaborations with the universities, colleges and cultural institutions which provide an empowering bridge to further and higher education, but in its very close relationships with industry leaders and local ecosystems of support. Membership of our Clubs, which run throughout the academic year, is completely free to the young people who participate in them. Club membership allows 13—16-year-olds to channel their creativity into previously unexplored areas, opens them to new aspirations, unlocks their individual strengths and often provides them with new and desperately needed opportunities for social mobility. The last few years have seen some exciting developments in our expanding network of Clubs. Partnerships with the Queen Elizabeth Scholarship Trust (QEST) and the Clore Duffield Foundation, together with increased funding from the British Film Institute, have enabled us to increase the number of Clubs and develop closer links with communities across the country. **“There's a whole framework set-up for you, so why wouldn't you just grab it and use it. It's just amazing”** **Professor Steven Speir,** Vice-Chancellor, Kingston University London Our Chief Executive, Lucy Kennedy, leads an exceptionally dedicated team which has now grown to 19 people, including our new Development Director, Hannah Travers, whose appointment was supported by a generous grant. Hannah’s appointment will allow us to develop the broader partner and supporter base which will be so essential to our ability to extend our network of Clubs across the country. In everything our Board of Trustees and staff team do, we are supported magnificently by many others who give generously of their time and expertise, including members of our Advisory Board, our Tutors’ Advisory Group and our Youth Board. Together they ensure that, in all we do, we are focused on the needs and aspirations of the young people who are our collective future. I would like to thank them all for being an essential part of our world. **Trustees’ Report – Annual Report** **5** **----- Start of picture text -----**
Art&Design
Craft&Making
Fashion&Business
Film&Screen
Performance&Theatre
Science&Engineering
Society&Change
Writing&Talking
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**Trustees’ Report – Annual Report** **6** ## **Programme** **Club members attend classes every Saturday, at their local university, college or cultural institution. The National Saturday Club brings everyone in the network together for shared national events – The Visit, summer Show and Graduation Ceremonies – and organises a Masterclass for each Club, giving members a vital link to the professional world.** ## **Weekly classes** At the heart of the National Saturday Club are the weekly classes held at local universities, colleges and cultural institutions. Here, for up to 30 weeks a year, young people have the chance to work with experienced and inspiring tutors, exploring their curiosity for the subject, trying out new techniques and materials, and using specialist equipment that is not always available to them in schools. Club Tutors put together inspirational programmes of activity that introduce members to a rich array of disciplines. Although the choice of activities and themes varies, all Clubs share the desire to create a relaxed atmosphere in which members are encouraged to explore their curiosity for a subject without the pressure of exams. During the 2023–24 academic year, our national network of partners delivered 106 Saturday Clubs, across eight subjects. Collectively, the network is committed to providing equity of access, by engaging young people from underserved and under-represented backgrounds at an early stage in their learning journey, delivering a programme framework with proven impact. **93% found the classes engaging** **94% found the atmosphere at the Club welcoming and inclusive** **83% felt that their skills have improved** **Trustees’ Report – Annual Report** **7** Matt Jones of Lunar Energy Masterclass with Coleg Sir Gâr Saturday Club ## **National events** ## **The Visit** The Visit brings the national network together at the beginning of the year and provides an opportunity for Club members to access and engage with inspiring cultural places and spaces. World-leading museums, galleries and theatres open their doors to provide behind-the-scenes tours, special experiences and bespoke workshops. On the day, Club members also hear from keynote speakers and see their self-portraits exhibited alongside those of their peers from across the network. In December 2023, the National Saturday Club delivered the Visit opportunity in London, hosting welcome events with the support of Central Saint Martins, followed by Clubs attending cultural visits to 24 venues including The Courtauld, National Theatre, London Transport Museum and Whitechapel Gallery. - **93% valued the cultural visit** - **89% agreed that the self-portrait exhibition celebrates young people’s individuality** - **81% found the guest speakers inspiring and motivating** ## **Masterclasses** Each Club takes part in a Masterclass delivered by leading industry professionals, giving Club members and tutors rare access to some of the UK’s most inspiring minds. Delivered by a network of over 175 generous individuals and organisations, each Masterclass showcases how skills developed at a Saturday Club can be applied in the real world. For many young people, their Masterclass is the moment they realise that their interests have the potentials to develop into rewarding careers. In 2023–24 National Saturday Club members participated in 69 industry-led Masterclasses, exploring diverse topics – from sustainable transport solutions with Transport for Greater Manchester to envisioning the future with the Royal Society of the Arts (RSA). - **96% enjoyed the Masterclass and found meeting industry professionals inspiring** - **92% learned something new during the Masterclass** - **82% gained a better understanding of job roles and career possibilities** **Programme** **Trustees’ Report – Annual Report** **8** London Visit ## **Graduation Ceremonies** Graduation Ceremonies provide an important moment for Club members to take pride in their achievements throughout the programme and to look ahead to future possibilities. At the event, tutors and inspiring guest speakers address the young people and each Club member receives a Certificate of Achievement, in front of their parents and guardians, peers and tutors. Eight Graduation Ceremonies were held at Institution of Engineering and Technology on 13 and 14 of July and featured guest speakers Sim Scavazza, Nyasha Daley, Robin Belfield and Tom Ryalls. ## **Summer Show** The culmination of the Saturday Club year is a public exhibition of Club members’ work at London’s prestigious Somerset House. It is a joyous celebration by DallasPierce-Quintero with a focus on sustainable design. The Summer Show also includes events such as Private Views for Club members and a Private View for network guests, including industry, the cultural sector, government and policy- makers. As a valued partner of the National Saturday Club, Somerset House has generously hosted the Summer Show for 15 years. The 2024 Summer Show presented the work of 97 Saturday Clubs. As the Private View event on Monday 14 July, four alumni members took to the stage to share the profound impact the National Saturday Club has had on their lives. ## **2,820 Graduation Ceremony attendees** **3,023 visited the Summer Show at Somerset House** . **Programme** **Trustees’ Report – Annual Report** **9** **“It’s been a remarkable journey as a Club tutor this year. Facilitating sessions has not only broadened my knowledge but also expanded my horizons. This role has enriched my network, connecting me with incredible individuals and offering me the unique opportunity to work with young, eager minds. Their open-minded and enthusiastic approach to problem-solving is truly inspiring.”** **Favour Chinaza Anajemba,** Club tutor, Manchester Metropolitan University Science&Engineering ## **Tutors’ Programme** Saturday Clubs are led by an inspiring network of tutors and coordinators who run the weekly Saturday Classes. It is as a direct result of their commitment and expertise, their knowledge of widening participation, their dynamic pedagogical approaches, and their experience of youth engagement, that Club members grow in confidence, build their skills and broaden their understanding of the breath of future pathways open to them. The Annual Tutors’ Programme brings Club tutors and coordinators together to share best practice, hear from expert speakers and feedback their experiences directly to the National Saturday Club Team. The programme offers a professional development opportunity for the national network, creating an upward spiral of learning which informs the National Saturday Club’s programme development. During the 2023–24 the National Saturday Club organised opportunities for tutors and coordinators to come together locally for informal meet-ups. This new initiative supported local Club collaborations, built networks of support, engaged regional partners across industry and culture, and brought tutors together to share challenges and successes. To accompany this, we held a Tutors' Forum in February providing online space for Club tutors to come together, joined on this occasion by expert speakers from CHEAD, City & Guilds, Into Film, the National Theatre and the Institution of Engineering and Technology who spoke about their varied approaches to youth engagement and subject focused pedagogy. The year finished with the annual Tutors’ Conference generously hosted by Nottingham Contemporary. **----- Start of picture text -----**
387 tutors
2111 student assistants
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**Programme** **Trustees’ Report – Annual Report** **10** ## **Expansion of the network** ## Club numbers and locations The expansion of the National Saturday Club is central to the delivery of the Trust’s ambitious Future Plan and to increasing access to the programme for more young people across the UK. Growth is not an end in itself, but a strategic means of widening participation and ensuring that a greater number of young people have the opportunity to benefit from the programme’s creative, educational and social impact. The growth strategy comprises of two interrelated components: the recruitment of new Clubs and the retention of existing ones. Each presents a distinct set of challenges, which have been systematically evaluated, leading to the development of a tailored and responsive set of tools. A consistent and evidence-informed approach to both recruitment and retention is essential for ensuring sustainable, long-term expansion. Over the past 14 years, the Trust has established a resilient national network of education, cultural, and industry partners. These partnerships enable the delivery of a high-quality programme that supports young people to access enriching creative and cultural experiences in their local communities, while connecting them to a national ecosystem of peers, practitioners, and institutions. At a local level, the Saturday Club model fosters inclusive creative communities and opens up pathways into nearby education and cultural institutions. At a national level, programme partners provide insights into the breadth of study and career opportunities across the creative and cultural sectors, supporting young people to understand and imagine their futures, regardless of background or geography. This locally delivered, nationally connected approach provides the foundation for a scalable national framework, one capable of supporting the continued and strategic growth of the programme. It enables the Trust to strengthen its long-term infrastructure, maintain quality and consistency, and extend reach to a broader and more diverse cohort of young people. During the 2023–24 academic year, Clubs were hosted by a dedicated network of universities, colleges, and cultural institutions. In 2023–24, the network grew to 106 Saturday Clubs from 94 Clubs in 2022–23. At the end of the 202324 academic year, 14 Clubs had chosen not to continue, due to a range of local challenges including funding, staff turnover, venue changes, and shifting organisational priorities. This represented a 13% reduction. However, 92 Clubs committed to continued delivery in 2024–25, and 30 new Clubs were established, resulting in a total of 122 Clubs nationally. Targeted investment continues to be an important enabler of growth. Funding from the BFI supported a significant expansion of the Film&Screen strand, increasing delivery from 16 to 30 Clubs. This growth was made possible through dedicated financial support for delivery partners, paired with a focused strategy for subject-specific development. The Trust is now exploring how this approach can be applied across other subject areas to drive further growth and deliver equitable access to creative opportunities for more young people across the country. **Trustees’ Report – Annual Report** **11** ## **Research, evaluation and impact** **Since its inception in 2009, the National Saturday Club has developed a comprehensive monitoring and evaluation framework to ensure:** - **Accountability and transparency: tracking progress and demonstrating effective use of resources;** - **Learning and improvement: allowing us to learn from experience and make informed decisions to improve the experiences of the young people and tutors;** - **Evidence-based decision-making: to guide our strategic planning and operational growth.** Working alongside independent evaluation consultant Dr David Parker, we invite feedback from all key stakeholders, including the young people, and their parents and carers, Club tutors and host institutions and industry partners. This open and reflective approach to learning and tracking progress allows us to iteratively refine practice at the heart of our programme development. Findings this year demonstrate consistent and long-term positive impacts on Club members’ confidence, creative capacities and awareness of future pathways. In addition, across the national network of educators, the sharing of best practice continues to improve and develop practitioners' skills. As the National Saturday Club continues to grow, we have also worked with Dr David Parker this year to develop a Theory of Change framework, which outlines the National Saturday Club’s model and identifies key mechanisms of change, outcomes and longer-term impacts alongside risks and assumptions. This has been developed with the whole team, with contributions from the Youth Board and the Tutors’ Advisory Group. The model has informed the development of two new strategies for Monitoring and Evaluation, and for Research to allow us to explore key themes more deeply, including the value of nonformal learning, mental health and wellbeing, inclusive pedagogy, and the impact of the programme and skills and progression. **Trustees’ Report – Annual Report** **12** ## **Impacts of the programme** Year on year, the National Saturday Club programme has consistently proven to be a transformational experience for young people. Independent evaluation has shown that the programme enhances well-being and confidence, builds practical and transferable skills and develops young people’s understanding of future study and career pathways. This conclusion is supported by robust research and evaluation of the impact on beneficiaries: ## **Widening participation and access** Over the past six years, the percentage of young people engaging in the programme from widening participation backgrounds **[1]** has increased from 46% in 2018 to 76% in 2023–24. Many of whom are not taking part in any other regular out-of-school activities. ## **Progression, careers, study** The Club informs Club members’ decisions about future pathways. It offers an introduction to new subject areas, demonstrates a breadth of career and future study options and empowers young people to make informed decisions. The 13–16-year-old National Saturday Club cohort is at a crucial age (Year 9 to 11) making subject choices for GCSE and A-Level. At the end of the year long programme: **85%** have a better understanding of the study and learning options available to them **81%** say they know more about jobs and careers **40%** say the Club has influenced their future plans **30%** plan to apply to the college/ university where they attended the Saturday Club ## **Club experience** Learning and developing new skills were the main reasons young people gave for joining the National Saturday Club: **90%** said the Club fulfilled their expectations - **86%** felt they had access to specialist equipment through their weekly classes - **83%** noticed their skills improve - **87%** found their passion for the subject had increased ## **Enhancing wellbeing** The year-long sustained engagement, free from assessment pressures, creates a friendly and supportive learning community in which Club members find a forum for expression and connection. This holistic approach develops confidence, a growth-mindset and improves wellbeing: **96%** said the Tutors were supportive and approachable **93%** found the weekly classes engaging - **70%** found that attending has improved their outlook on the future - **78%** said they had grown in confidence. ## **Creative capacities** The Creative Habits of Mind model distills creativity to five capacities: imagination, persistence, discipline, inquisitiveness and collaboration. Capacities sought by industry for the future world of work. The National Saturday Club programme successfully instills these capacities in young people. Highest scoring were imagination and collaboration: **95%** reported an increase in at least one of these creative capacities Imagination and collaborative skills were particularly cultivated by the Club members. > **1.** The National Saturday Club identifies young people to be from a Widening Participation (WP) background if they: receive free school meals; have experience of the care system; speak English as an additional language; experience disability; parents/ guardians haven’t been to university; are refugees or asylum seekers; are young carers; are from a military family; are from an under-represented ethnic background; have special educational needs; have a neurodiversity; are D/deaf or hard of hearing; are from a Gypsy, Roma, Traveller, Showman or Boating community; and/ or those who live in the 30% most deprived areas [Index of Multiple Deprivation]. **Research, evaluation and impact** **Trustees’ Report – Annual Report** **13** ## **Equality objectives** Access, engagement, equality and diversity **We are committed to ensuring fair treatment, access, opportunities and advancement for all individuals, while striving to identify and eliminate barriers that have prevented the full participation of marginalised groups.** Valuing and respecting the unique attributes, perspectives, and experiences of all individuals, including but not limited to differences in race, ethnicity, gender, sexual orientation, age, disability, religion, socioeconomic status and cultural background. Creating an environment in which all individuals feel welcomed, respected supported. ## **Our objectives are to:** - **Remove barriers:** so that every 13-16-year-old has the opportunity to take part, across all communities to widen participation and help to address the impacts of inequality in education and experience early on. - **Increase the inclusiveness of our programme experience:** to better cater to the needs of young people from widening participation backgrounds. - **Cultivate inclusion:** grow the share of young people and talent from widening participation backgrounds within the programme network, Saturday Club Trust staff, Board of Trustees, and those we work with such as industry partners and individuals who support our activities such as the Masterclasses Programme. The Trust has implemented an Equality Analysis and Action Plan and regularly reviews current learnings from the network and more widely to address access, engagement, equality and diversity. A staff led ED&I Steering Group meets quarterly and is chaired by Sim Scavazza, Trustee of the Saturday Club Trust. **Trustees’ Report – Annual Report** **14** ## **Environment Sustainability** ## **We are dedicated to reducing our environmental footprint by minimising waste, conserving resources and promoting energy efficiency.** Supporting social equity and community development through ethical practices and meaningful engagement. Encouraging innovation and continuous improvement in sustainable practices across all levels of the organisation. ## **Our objectives are to:** - **Implement sustainable best practice:** integrated into all levels of decision making across the organisation, including governance, operations and programming and development. - **Sustainable procurement:** source materials and services responsibly, prioritising suppliers with sustainable practices, where possible. - **Promote awareness and education:** promote sustainability awareness among employees, stakeholders and the community. - **Comply to:** adhere to all relevant environmental regulations and strive to achieve industry standards for sustainability, where possible. This year, at the Summer Show, 20% of Clubs showcased displays with the environment as their central theme, making innovative use of recycled materials. 20% of Masterclasses were also focused on the theme of sustainability, benefiting 19 Clubs and up to 475 Club members who took part. 2023-24 was the first year that we recorded our carbon footprint. **Total carbon footprint** 2023–24: 33 tonnes CO2e **----- Start of picture text -----**
Materials Water & Sewage
1.66% 0.04%
Energy
18.96%
Waste
12.50%
Audience travel
55.27%
Business
travel
11.58%
**----- End of picture text -----**
**----- Start of picture text -----**
Emissions Emissions over time
2023–24 All buildings/ projects, kg
20k 40k
15k 30k
10k 20k
5k 10k
0 Summer Somerset House Master- 0 2023–24
Show office classes
Energy Water & Sewage Business Travel Energy Water & Sewage Business Travel
Audience Travel Materials Waste Audience Travel Materials Waste
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**Trustees’ Report – Annual Report** **15** ## **Financial Sustainability** **Over the past 14 years, the Trust has developed a robust framework for delivering the National Saturday Club programme which encompasses year-round planning, monitoring and reporting.** The programme is delivered through an innovative and cost-effective match-funded business model with 50% of programme costs covered by the individual host institutions and 50% covered by the Saturday Club Trust. The Saturday Club Trust is moving to a more diverse income model for the delivery of the National Saturday Club programme. It has been core funded by Arts Council England since 2012. This is currently in the form of a solicited grant of £480,000 per annum which is currently confirmed until 2026. In 2023-24 the Trust also received a Nationally Significant Project Grant to support the long-term growth of the programme. The financial year 2023–24 was also the second year of a 3-year grant from the British Film Institute awarding National Lottery funding as part of their Young Creatives initiative to support the expansion of the Film&Screen Saturday Club programme. In addition, the programme is supported by a series of subject specific partners which include: the British Fashion Council which funds the Fashion&Business programme; Queen Elizabeth Scholarship Trust (QEST) which funds the Craft&Making programme with generous support from Howdens Joinery and Clore Duffield Foundations which funds the newly launched Performance&Theatre programme. The Trust appointed a new Development Director, funded by a generous grant to support continued diversification. ## **Funding: 2021 to 2024** **----- Start of picture text -----**
£1,800,000
£1,600,000
£1,400,000
£1,200,000
£1,000,000
£800,000
£600,000
£400,000
£200,000
2021 2022 2023 2024
Arts Council England Industry partners Trusts and foundations Donations & interest receivable
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**Trustees’ Report – Financial Review** **16** ## Financial Review ## **2023/24 Income** ## **2023/24 Expenditure** **----- Start of picture text -----**
2023/24 Income 2023/24 Expenditure
Donations Interest Cost of
receivable fundraising
Trusts and
foundations
Research,
evaluation
and impact
Industry £1,613,802 £1,612,279 Programme
costs
partners
Arts Council
England Partner
network
2022/23 2022/23
£954,757 £1,077,316
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In 2023/24, income of £1,613,802 and expenditure of £1,612,279 resulted in a positive movement in total funds of £1,523. This compares to a negative movement of £122,559 in 2022/23. Total Funds closed at £364,716 **Trustees’ Report – Financial Review** **17** ## **Principal funding sources** The Saturday Club Trust receives an annual solicited grant of £480,000, which represents c.30% of the income received by the National Saturday Club (2022/23: c.50%). Other public funding received via Arts Council England includes a grant from the Department for Culture, Media and Sport at £300,000 (2022/23: Nil), that contributed towards Saturday Club member recruitment costs. We also received a Nationally Significant Project Grant for £166,667 to contribute towards our growth strategy. The National Saturday Club also received funding from the British Fillm Institute of £465,000 towards the first year of the Film&Screen Saturday Club programmes. The British Fashion Council contributed £50,000 to the Fashion&Business Saturday Club programme. The Clore Duffield Foundation contributed £40,000 towards the Performance&Theatre Saturday Club programme. The Queen Elizabeth Scholarship Trust contributed £70,000 towards the Craft&Making Saturday Club programme. An additional grant funder generously provided £15,216 towards the new role of Director of Development, who commenced their role in July 2024. This grant was to support organisational growth and ensure sustainability. The National Saturday Club also received an unrestricted grant from Pentland Brands Ltd of £10,000 and Bank Interest of c£11,000. ## **Expenditure** Programme expenditure of £709,209 related to the delivery of The Visit, Masterclasses, the Summer Show and the Tutor’s Programme. This is £148,343 higher than the previous year, due to higher Summer Show costs related to inflationary pressures and higher staff costs due to increased headcount required to deliver the programme, to support both current and future Club numbers growth. Partner Network expenditure of £654,236 related to the recruitment of Clubs and Club members. This increase of £322,776 was funded by the Department for Culture, Media and Sport to support the establishment of an Outreach Manager role to build relationships between schools, community youth networks, cultural partners and host institutions at a local level. The focus on this work was to engage young people who would benefit most from the programme, ensuring that new Clubs are targeting young people from disadvantaged/widening participation backgrounds. Expenditure relating to Research and Evaluation was £228,886. This is £53,876 higher than the previous year due to Independent Evaluation reports for DCMS and the BFI. Work also commenced with Dr David Parker to develop a Theory of Change framework, which outlines the National Saturday Club’s model and identifies key mechanisms of change, outcomes and longer-term impacts alongside risks and assumptions. Support costs of £578,102 are 27% higher than last year. This is due to increased Rent & Service Charge, IT and Governance costs to support both current and future growth. Headcount at the National Saturday Club has increased by 6 to 19 during the year. This includes the appointment of 3 Regional Relationship Managers to support Club retention and future growth; increasing the programme team by 1 to support industry partnerships; the appointment of the Development Director to support income growth; and finally 1 headcount to support the implementation and growth of our CRM system. **Trustees’ Report – Financial Review** **18** ## **Plans for the future** **For the forthcoming academic year 2024-25, bolstered by the generous support of valued funders, we are on track to reach 122 Saturday Clubs, 15% more than the previous year.** Our vision is ambitious yet clear; the programme is eminently scalable across the UK. We want every university, further education college and cultural institution to run a Saturday Club, ensuring that every young person can access these transformative opportunities, free of charge, in every community. We welcome the new government’s emphasis on young people’s development and the importance of equitable access to culture and creativity. We are encouraged by this and look forward to potential collaborations that will allow us to extend out reach even further. For over 15 years, the National Saturday Club has profoundly impacted the lives of participants. We are currently refreshing our Strategy 2025-30 and call upon government and policymakers to recognise and support the essential work we are doing. Together, we can continue to bridge the gap in educational equity, fostering a brighter, more inclusive future for all young people. **Trustees’ Report – Governance** **19** ## Governance **Saturday Club Trust** **The Saturday Club Trust is an independent charity set up in 2016 to take over the development of the National Saturday Club from The Sorrell Foundation, originally established in 2009 by Sir John and Lady Sorrell.** ## **Governing document** The Saturday Club Trust is governed by its Memorandum and Articles of Association. The company was incorporated in 2015 and registered as a charity in 2016. ## **Charitable objects** The objects of the Trust are specifically restricted to the advancement of education and training of young people in such ways as the charity trustees see fit, including: to provide education (including the study of art and design); to prepare for entry to higher education and careers; and to develop their mental, physical and moral capabilities through leisure time activities, including through the provision of National Saturday Clubs. ## **Board members up to the date of this report** - Sir Nigel Carrington (Chair) - Katie Greenyer - Russell Lloyd - Lady Frances Sorrell CBE - Sir John Sorrell CBE - Philip Watkins - Krishna Maroo (Resigned 2nd July 2024) - Sim Scavazza - Professor Nona McDuff OBE (Resigned 31th March 2025) - Anne Morrison (Appointed 02 July 2024) ## **Key management personnel** - Lucy Kennedy, Chief Executive - Angela McDermott, Chief Operating Officer - Paul Allnutt, UK Network Director - Toria Brook-Hill, Director of Programmes and Communications - Hannah Travers, Development Director **Trustees’ Report – Governance** **20** ## **Recruitment, appointment and induction of new trustees** The Saturday Club Trust appoints Trustees based on the skills and experience they can bring to the custodianship and management of the Charity and its activities in order to maintain an appropriate balance of knowledge and representation. All prospective Trustees, who are also Directors of the company, are recruited following an open and transparent recruitment process and are appointed or co-opted after a vote of approval at a Trustees' Board Meeting. Each new Trustee is provided with full induction information, including the latest financial statements by the Chief Executive and Chief Operating Officer. All Trustees give their time voluntarily and receive no benefits from the charity. The Trust is mindful of diversity and inclusion to create more balanced decision making as per our Diversity & Inclusion Policy and is currently working to diversify the Board, increasing the charity's legitimacy and impact. To support this, a Youth Board and Tutors’ Advisory Group were recently established in 2022 to ensure the beneficiaries of the charity and its network of educators are able to directly report to the Board of Trustees. ## **Public benefit** The National Saturday Club’s vision is for universal access to creative, cultural and extracurricular learning opportunities for all young people, regardless of their background. The aim is to provide transformative learning experiences that empower young people, broaden their access to opportunity and contribute to their personal and future success. None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Section 172(1) of the UK Companies Act 2006 requires directors to act in a way that promotes the success of the company for the benefit of its members while considering broader stakeholder interests. In our annual report, we acknowledge our directors' duty to engage with key stakeholders, including employees, customers, suppliers, regulators, and the wider community. Our decision-making process carefully evaluates longterm consequences, fosters strong relationships, upholds our ethical and environmental responsibilities, and ensures fair treatment of all stakeholders. By aligning corporate strategy with these principles, we enhance sustainable growth, corporate governance, and shareholder value. **Saturday Club Trust** **Trustees’ Report – Governance** **21** ## **Financial Policies** ## **Risks internal control and risk management** Trustees are responsible for ensuring that National Saturday Club has effective risk management and control systems and processes in place. Agreed processes are in place by which the Trustees identify, review and assess major risks and agree with management the controls that already are, or will be, put in place to manage those risks. The details form part of the Risk Register, which Trustees review on a quarterly basis. Executive Management has responsibility for managing resources, monitoring performance and establishing and maintaining effective internal control systems. The system of internal control and risk management is designed to identify and prioritise strategic and operational risks to the achievement of the National Saturday Club’s aims and objectives. To evaluate the likelihood of those risks being realised and their potential impact and to manage these risks efficiently, effectively and economically. ## **Reserves policy** The National Saturday Club maintains a policy of balancing annual income and expenditure to sustain its current level and quality of activity. Each year, the organisation aims to align income with expenditure, taking into account the level of secured funding and to avoid generating a recurring deficit. Recognising the financial uncertainties associated with its operating environment – including reliance on external funding, the variability of fundraising income, and broader economic conditions – the National Saturday Club has set an appropriate reserves target. This target is intended to provide a financial buffer that ensures continuity of operations in the event of a sudden drop in income or other unforeseen challenges Following a risk-assessed impact review of income and expenditure, the Trustees have determined that maintaining unrestricted reserves equivalent to approximately three months of normalised core operating expenditure – circa £0.3 million – is prudent. As of the reporting date, the National Saturday Club’s unrestricted cash and current asset investment reserves are in line with this policy. ## **Investment policy** The policy is to hold investments in liquid funds, so that they are available to meet predicted cash-flow needs. In selecting suitable cash deposits, the policy is to seek to maximise the return and maintain low transaction costs, whilst ensuring high levels of capital security by minimising credit risk and interest rate risk. Deposits and interest rates are reviewed each time the Board of Trustees meets. At 31 August 2024, the cash deposits were with CAF Bank. The bank and other interest earned for the year was £11k (Nil in 2022/23). ## **Creditor payment policy** It is the National Saturday Club’s policy to pay creditors in accordance with terms of payment agreed at the start of business with each supplier. **Trustees’ Report – Governance** **22** ## **Remuneration** The National Saturday Club is committed to offering salaries that are fair, competitive within the charitable sector and proportionate to the responsibilities and complexity of each role. All roles are assessed through a job evaluation process and the organisation ensures that all staff are paid at least the London Living Wage. The Board of Trustees is responsible for reviewing and benchmarking the pay, benefits and total remuneration of the Executive, which comprises the Chief Executive and Chief Operating Officer. In turn, the Executive is responsible for reviewing and benchmarking the pay and benefits of the Senior Leadership Team and the wider National Saturday Club team, ensuring alignment with sector standards and organisational values. ## **Financial risk management** The Trustees must satisfy themselves as to the National Saturday Club’s ability to continue as a going concern for a minimum period of 12 months from the date of approval of the financial statements. The Trustees have produced detailed, yet adaptable, business plans that consider the charity’s forecast and projected activities, the related financial budgets, cash flows and liquidity for the period to May 2026. This comprises (a) reduced Trust and Foundation Income, (b) reduced levels of donations, and (c) higher levels of inflation impacting payroll costs and materials and other costs. Under this scenario, the charity projects to have sufficient liquidity through the period to May 2026, without needing to implement mitigating actions. Nevertheless, the Trustees have sought to identify certain mitigating actions that could be implemented, in order to provide additional liquidity or reduce cash outflows, so as to ensure that the Trust can maintain sufficient liquidity over the period to May 2026 – maintaining a balance between supporting the activities that are crucial to delivering our mission - supporting our audiences, freelancers, young people and other beneficiaries; whilst ensuring the long-term financial sustainability of the National Saturday Club. Further details of the above are set out in Note 3 of the Financial Statements. Having assessed the combination of all these various matters, the Board of Trustees has a reasonable current expectation that the Charity has adequate resources to continue in operational existence for the period to May 2026, being a period of at least 12 months from the date of approval of the financial statements. For these reasons, the Board of Trustees has adopted the going concern basis of accounting in the preparation of the financial statements. The National Saturday Club places significant reliance on Arts Council England grant funding support, in order to seek to balance income and expenditure on an annual basis. The Trustees have taken into account ACE funding to August 2026 at a level of circa £0.5m per annum as communicated in February 2024. The Trustees have also considered in their assessment of going concern the impact of a challenging, yet reasonably plausible, downside scenario (sensitivity analysis) on the charity’s liquidity position. **Trustees’ Report – Governance** **23** ## **Statement of trustees’ responsibilites** ## **The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.** Company law requires the trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 charity and of application of resources, including the income and expenditure, of the charity 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 in the Charities SORP; - make judgments and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards 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 Trust will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: - There is no relevant audit information of which the charitable company's auditor is unaware - The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information In preparing this report the trustees have taken advantage of the small company exemptions provided by section 415a of the Companies Act 2006. Approved on behalf of the Board of Trustees and signed on its behalf by: **Sir Nigel Carrington** Chair of the Board of Trustees Date: 19 May 2025 **Independent Auditor’s Report** **25** ## Independent auditor’s report ## **Opinion** We have audited the financial statements of The Saturday Club Trust (‘the company’) for the year ended 31 August 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice). ## **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 Auditor’s 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 UK, including the FRC’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. 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 2024 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. ## **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. **Independent Auditor’s Report – Independent auditor’s report** **26** ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s 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 there is 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. ## **Opinions 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’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ## **Other matter** The comparative figures in the financial statements of The Saturday Club Trust were not audited, as the company did not require a statutory audit under the Companies Act 2006 or Charities Act 2011 in the prior year. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters where the 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 exemption in preparing the trustees’ annual report and from preparing a strategic report. - the trustees’ annual report has been prepared in accordance with applicable legal requirements. **Statement of trustees’ responsibilites** **Independent Auditor’s Report – Independent auditor’s report** **27** ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement set out on page 23, 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. ## **Auditor’s 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 auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. **Statement of trustees’ responsibilites** **Independent Auditor’s Report – Independent auditor’s report** **28** ## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of noncompliance 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. The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. Our approach was as follows: - We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council. - We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. - We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. - We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations. - Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. ## 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 company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. ## **Adam Fullerton (Senior Statutory Auditor)** for and on behalf of Moore Kingston Smith LLP Date: 19 May 2025 6th Floor 9 Appold Street London EC2A 2AP **Statement of trustees’ responsibilites** **Financial statements** **30** ## **Statement of financial activities** ## For the year ended 31 August 2024 |_Notes_
**Income from:**
Donations and Legacies
_2_
Charitaible activities
_2_
Bank Interest
**Total Income**
**Expenditure from:**
Cost of Fundriasing
Charitable activities
_3_
**Total Expenditure**
**Net Expenditure**
**Transfers**
**Net Movement in Funds**
**Reconciliation of funds**
Funds balances at 1 September 2023
Funds balances at 31 August 2024|Year ended
**31 August 2024**
**Restricted Funds**
£
1,587,036
-
-
**1,587,036**
19,947
1,558,943
**1,578,891**
**8,145**
(17,793)
**(9,648)**
110,592
100,944|Year ended
**31 August 2024**
**Unrestricted Funds**
£
15,808
-
10,958
**26,766**
-
33,388
**33,388**
**(6,622)**
17,793
**11,171**
252,601
263,772|Year ended
**31 August 2024**
**Total Funds**
£
1,602,844
-
10,958
**1,613,802**
19,947
1,592,331
**1,612,279**
**1,523**
-
**1,523**
363,193
364,716|Year ended
**31 August 2023**
**Total Funds**
£| |---|---|---|---|---| |||||954,757| |||||-| |||||-| |||||**954,757**| |||||| |||||9,980| |||||1,067,336| |||||**1,077,316**| |||||| |||||**(122,559)**| |||||-| |||||**(122,559)**| |||||| |||||485,752| |||||363,193| The statement of financial activities includes all gains and losses recognised in the period. All of the above amounts relate to continuing activites The notes on pages 36 to 41 form part of these financials statements. **Financial statements** **31** ## **Balance sheet** ## For the year ended 31 August 2024 |**Fixed Assets**|Notes|**2024**
£||**2024**
£||**2023**
£||**2023**
£| |---|---|---|---|---|---|---|---|---| |Tangible Assets|_7_|||10,297||||8,441| |**Current Assets**||||||||| |Debtors|_8_|204,238||||166,832||| |Cash at bank and in hand
**Creditors**
Amounts fall due within one
year
**Net Current assets**
**Net Assets**
**Funds**|_9_|557,966||||741,089||| |||762,204
(407,785)||||907,921
(553,169)||| |||(407,785)||||(553,169)||| |||||354,419||||354,752| |||||||||| |||||364,716||||363,193| |||||||||| |Unrestricted funds:|_10_|||263,771||||252,601| |Restricted funds:|_10_|||100,945||||110,592| |||||364,716||||363,193| These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The accounts were approved and authorised for issue by the Board of Trustees on 19th May 2025 and signed on its behalf by: **Sir Nigel Carrington** Chair of the Board of Trustees Company No: 09559467 **Financial statements** **32** ## **Statement of cash flows** For the year ended 31 August 2024 |Notes
**2024**
**2024**
£
£
**Cash fows from operating activities:**
Net cash (used in) / provided by
operating activities
(i)
(185,956)
**Cash fows from investing activities**
Purchase of fxed Assets
(8,125)
Bank Interest
10,958
Net Cash used in investing activities
2.833
**Change in cash and cash equivalents in the year**
(183,123)
Cash and cash equivalents at the beginning of the year
741,089
Cash and cash equivalents at the end of the year
**557,966**
**Note (i)**
**Reconciliation of net income to net cash fow from operating activities**
Net expenditure for the reporting period
(as per the statement of fnancial activities)
1,523
Bank Interest
(10,958)
Depreciation charge
6,269
(Increase)/decrease in debtors
(37,406)
(Decrease) / Increase in creditors
(145,385)
**Net cash provided by operating activities**
**(185,956)**
**2024**
Analysis of cash and cash equivalents:
£
Cash in hand
557,966
**Analysis of changes in net debt:**
**At**
**01/09/2023**
Cash in hand
741,089|**2023**
£
(5,146)
—
**Cash fows**
(183,123)|**2023**
£| |---|---|---| |||248,632| |||| |||| |||(5,146)| |||243,486| |||| |||497,603| |||| |||**741,089**| |||| |||(122,559)| |||—| |||4,341| |||(69,830)| |||436,680| |||**248,632**| |||**2023**
£| |||741,089| |||**At**
**31/08/2024**
557,966| **Notes to the financial statements – Accounting policies** **34** ## Accounting policies ## **Charity information** The Saturday Club Trust is a private company limited by guarantee, incorporated in England and Wales under the Companies Act. It is also a registered charity in England and Wales. Company registration number: 09559467 Charity registration number: 1165362 Registered office: Somerset House, Strand, London, WC2R 1LA ## **Basis of preparation** The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (The FRS 102 Charities SORP) including Update Bulletin 2, the Companies Act 2006 and Charities Act 2011. The company is a public benefit entity and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and Republic of Ireland. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. ## **Going concern** The financial statements have been prepared on a going concern basis. The Trustees have assessed the appropriateness of adopting the going concern basis in preparing these financial statements. This assessment has considered all relevant information available, including potential events or conditions that could cast significant doubt on the charitable company’s ability to continue its operations. The review has covered a period of at least twelve months from the date of approval of the financial statements. In particular, the Trustees have examined the organisation’s financial forecasts and projections, while also considering external pressures on income. Following this review, the Trustees are satisfied that the charitable company has sufficient resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. ## **Critical accounting estimates & judgements** In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements, nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. The principal accounting policies, which are applied consistently, are set out on the following pages. **Notes to the financial statements – Accounting policies** **35** ## **Income** ## **Cash and cash equivalents** Income is recognised in the Statement of Financial Activities when it becomes receivable, and the entitlement, measurement and probability principles are met. Cash and cash equivalents include cash at banks and in hand and short term deposits with a maturity date of three months or less. Grants are recognised in full in the Statement of Financial Activities in the year in which they are receivable. ## **Short term benefits** ## **Expenditure** All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation for payment to be made. Resources expended are allocated to the particular activity where the cost relates directly to that activity. Where this is not possible, an estimate of the cost of overall direction and administration on each activity, comprising salary and overhead costs of the central function, is apportioned based on staff time. Governance costs are those incurred in connection with the Governance of the Charity and compliance with constitutional and statutory requirements. ## **Fixed assets and depreciation** All fixed assets with a value over £500 are capitalised at cost, being their purchase cost together with any incidental expenses at acquisition. Depreciation is provided on all tangible fixed assets so as to write them off over their anticipated useful lives, as follows: Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. ## **Pension costs** The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity in the year. ## **Fund accounting** ## **Unrestricted Funds** Unrestricted funds are donations and other income receivable or generated for the objects of the trust without further specified purpose and are available as general funds. ## **Restricted Funds** Restricted funds relate to grants and donations received for specific purposes. ## **Financial instruments** The charitable Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as ‘other’ or basic instruments measured at fair value. Fixtures, fittings and equipment 33% straight line **Statement of cash flows** **Notes to the financial statements** **36** ## Notes to the financial statements ## For the year ended 31 August 2024 ## **2 Income** |**Year to 31 August 2024**
Donations and Legacies
Charitable activities
**Year to 31 August 2023**
Donations and Legacies
Charitable activities|**2024**
**Restricted**
£
1,587,036|**2024**
**Unrestricted**
£
15,808|**2024**
**Total**
£
1,602,844| |---|---|---|---| ||—
**1,587,036**
**2023**
**Restricted**
£
896,500|—
**15,808**
**2023**
**Unrestricted**
£
58,257|—| ||||**1,602,844**| ||||**2023**
**Total**
£
954,757| ||—
**896,500**|—
**58,257**|—| ||||**954,757**| **Notes to the financial statements** **37** ## **3 Charities activities** |**Year to 31 August 2024**|**Year to 31 August 2024**|**Year to 31 August 2024**|||**2024**|**2024**|**2024**||||**2024**|||**2024**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||**_Notes_**||||**Restricted**||||||**Unrestricted**|||**Total**| ||||**Direct**||**Support**||||**Total**|**Direct**|**Support**||**Total**|| ||||£||£||||£|£|£||£|£| |The programme|||485,323||208,417||||693,739|11,064|4,406||15,470|709,209| |Partner network|||408,220||232,813||||641,034|7,615|5,587||13,203|654,236| |Research, evaluation|||99,420||124,751||||224,170|2,587|2,129||4,716|228,886| |and impact||||||||||||||| ||||**992,963**||**565,981**||||**1,558,943**|**21,266**|**12,122**||**33,388**|**1,592,331**| |**Year to 31 August 2023**|||||**2023**||||||**2023**|||**2023**| ||||||**Restricted**||||||**Unrestricted**|||**Total**| ||||**Direct**||**Support**||||**Total**|**Direct**|**Support**||**Total**|| ||||£||£||||£|£|£||£|£| |The programme|||365,963||154,813||||520,776|29,437|10,654||40,090|560,866| |Partner network|||137,549||172,487||||310,037|10,925|10,498||21,423|331,460| |Research, evaluation|||63,507||99,880||||163,388|6,222|5,400||11,622|175,010| |and impact||||||||||||||| ||||**567,019**||**427,181**||||**994,200**|**46,584**|**26,552**||**73,136**|**1,067,336**| |**4Analysis of support**|||||||||**costs**|||||| |**Year to 31 August 2024**|||||||**Promotion**|||**Offce and Offce**
**Service Costs**||||**Total Support**| |||||||||||**Related Costs**||||**Costs**| ||||||||||£|£|||£|£| |The programme|||||||||15,187|55,112|||142,524|212,822| |Partner network|||||||||15,187||71,171||152,043|238,401| |Research, evaluation and impact|||||||||7,593|25,042|||94,244|126,879| ||||||||||**37,967**|**151,326**|||**388,810**|**578,102**| |**Year to 31 August 2023**|||||||**Promotion**|||**Offce and Offce**
**Service Costs**||||**Total Support**| |||||||||||**Related Costs**||||**Costs**| ||||||||||£|£|||£|£| |The programme|||||||||13,097|45,623|||106,746|165,467| |Partner network|||||||||13,097|59,182|||110,706|182,986| |Research, evaluation and impact|||||||||6,549|22,956|||75,776|105,281| ||||||||||**32,743**|**127,762**|||**293,229**|**453,733**| **Notes to the financial statements** **38** ## **5 Trustees** No Trustee received any remuneration during the year (2023 – £nil). No Trustees were reimbursed for expenses during the year (2023 – £nil). ## **6 Staff costs** |Staff Salaries
Staff National Insurance
Staff Pensions costs
The average monthly number of employees:|**2024**
£
713,738
71,662
17,199
**802,598**
19|**2023**
£
445,503| |---|---|---| |||42,439| |||9,310| |||**497,252**| |||13| The total remumeration received by key management personnel in the year was £153,173 (2023: £138,158) During the year the charity paid termination payments of £7,000 (2023: Nil) The number of employees whose annual emoluments were £60,000 and over were as follows: |£80,000–£90,000
£90,000–£100,000|**2024**
£
—
1|**2023**
£| |---|---|---| |||—| |||1| **Notes to the financial statements** **39** ## **7 Tangible fixed assets** ## **Fixture & Fittings** £ ## **Cost or Valuation** |**Cost or Valuation**|| |---|---| |As at 1 September 2023
Additions
**As at 31 August 2024**|29,764| ||8,125| ||**37,889**| ## **Depreciation** |As at 1 September 2023
Charge for the Year
**As at 31 August 2024**
**Net Book Value**
**As at 31 August 2024**
**As at 1 September 2023**|21,323| |---|---| ||6,269| ||**27,592**| ||| ||**10,297**| ||**8,441**| ## **8 Debtors** |Other Debtors
Prepayments
Accrued Income
Trade Debtors
**Total**|**2024**
£
34,686
17,052
132,500
20,000
**204,238**|**2023**
£
16,458| |---|---|---| |||13,319| |||125,000| |||12,055| |||**166,832**| ## **9 Creditors: amounts falling due within one year** |Trade creditors
Accruals and deferred income
Taxation and social security
Pension Liabilities
**Total**|**2024**
£
94,695
288,363
20,160
4,567
**407,785**|**2023**
£
34,876| |---|---|---| |||494,276| |||18,518| |||5,499| |||**553,169**| **Notes to the financial statements** **40** ## **10 Funds** |**Incoming**
**Resources**
£
26,766
**26,766**
480,000
300,000
166,667
465,000
50,000
—
40,000
70,000
15,216
153
**1,587,036**
**1,613,802**
**Incoming**
**Resources**
£
58,257
**58,257**
480,000
125,000
55,000
36,500
40,000
80,000
80,000
**896,500**
**954,757**|**Outgoing**
**Resources**
£
(33,389)
**(33,389)**
(578,426)
(278,852)
(166,667)
(395,311)
(54,512)
—
(40,174)
(49,580)
(15,216)
(153)
**(1,578,890)**
**(1,612,279)**
**Outgoing**
**Resources**
£
(73,136)
**(73,136)**
(602,515)
(66,565)
(69,038)
(45,816)
(39,826)
(100,420)
(80,000)
**(1,004,180)**
**(1,077,316)**|**Transfers**
£
17,793
**17,793**
—
—
—
(44,251)
—
26,458
—
—
—
—
**(17,793)**
—
**Transfers**
£
—
—
—|**Carried forward**
**31 August 2024**
£
263,771| |---|---|---|---| ||||**263,771**| ||||—| ||||79,583| ||||—| ||||21,361| ||||(—)| ||||—| ||||—| ||||—| ||||—| ||||—| ||||**100,945**| ||||**364,716**| ||||**Carried forward**
**31 August 2023**
£
252,601| ||||**252,601**| ||||98,426| ||||58,435| ||||4,512| ||||(26,458)| ||||174| ||||(20,420)| ||||(4,077)| ||||**110,592**| ||||| ||||**363,193**| The above restricted funds relate to funds given for specific residency and public programmes. Arts Council England (DfE) – Grants received for the National Saturday Club programme as per the 2022/2023 and 2023/2026 agreements. Arts Council England (DCMS) - Grant contributes towards Saturday Club member recruitment costs. British Fashion Council represents contributions to the project for the Fashion&Business Saturday Club programme. Chatham House represents a grant to help people, societies and governments understand and adapt to seismic change. Clore Duffield Foundation contributes towards the Performance&Theatre Saturday Club programme. Queen Elizabeth Scholarship Trust contributes towards the Craft&Making Saturday Club programme. British Film Institute funding is towards the second year of the Film&Screen Saturday Club programmes. Fidelity Foundations: Grant received to support the new role of a Director of Corporate and Philanthropic Fundraising to support organisational growth and ensure sustainability. Arts Council England ( NSPG): Grant received to the expansion of the National Saturday Club’s programme to continue to benefiting young people, educators, and communities. **Notes to the financial statements** **41** ## **11 Analysis of funds** |**Year to 31 August 2024**
Fixed Assets
Net Current Assets
**Net Assets**
**Year to 31 August 2023**
Fixed Assets
Net Current Assets
**Net Assets**|**2024**
**Restricted**
**funds**
£
100,944
**100,944**
**2023**
**Restricted**
**funds**
£
0
110,592
**110,592**|**2024**
**Unrestricted**
**funds**
£
10,297
253,474
**263,771**
**2023**
**Unrestricted**
**funds**
£
8,441
244,160
**252,601**|**2024**
**Total**
**funds**
£
10,297| |---|---|---|---| ||||354,418| ||||**364,715**| ||||**2023**
**Total**
**funds**
£
8,441| ||||354,752| ||||**363,193**| ## **12 Capital commitments** At 31 August 2024 the charity had no capital commitments not provided for in the financial Statements, nor in the comparative period. ## **13 Leases** |**Year to 31 August 2024**
Less than one year
**Net Assets**|**2024**
£
51,012
**51,012**|**2024**
£
51,372| |---|---|---| |||**51,372**| ## **14 Related party transactions** There were no related party transactions that require disclosure in the period under review. **Acknowledgements** **43** ## **Thank you** The National Saturday Club programme is made possible by the commitment of the **universities** , **colleges** and **cultural institutions** that fund and deliver the weekly Saturday Clubs across the UK. We extend our gratitude to the **tutors** and **coordinators** whose energy, commitment and expertise have inspired all Saturday Club members throughout 2023–24. We also thank the **student assistants** who support the teaching at the Clubs. This year, 175 **creative practitioners** and **industry professionals** generously gave their time to lead inspirational Masterclasses. We are extremely grateful to them all. A special thank you to our **cultural partners** for supporting the programme: Autograph, Barbican Centre, Design Museum, Hayward Gallery, London Transport Museum, London Zoo, Makerversity, National Theatre, Nottingham Contemporary, Science Museum, Somerset House, Tate Britain, The Courtauld Gallery, The Photographers’ Gallery, Victoria and Albert Museum, Whitechapel Gallery. **Every year, the National Saturday Club brings together a diverse and talented national network of partners to educate and inspire young people nationwide. It simply would not be possible to deliver the programme without their support** Major support for the National Saturday Club programme is from public funding by the **Department for Education** and the **National Lottery** through **Arts Council England** , as well as by the **UK Government** through the **Department for Culture, Media and Sport** . Thank you to our Club subject partners the **British Fashion Council** , the **British Film Institute (BFI)** , the **Queen Elizabeth Scholarship Trust** and the **Clore Duffield Foundation** . Thanks also goes to our industry supporters **Howdens Joinery** and **Pentland Brands** .. We are delighted to continue our long-term partnership with **Cass Art,** who generously donate a percentage of profits from their Viridian Card to the National Saturday Club. And finally, thank you to our **extended network of freelancers** and the **National Saturday Club team** . **44** **saturday-club.org hello@saturday-club.org 020 7845 5860** **The Saturday Club Trust Somerset House London, WC2R 1LA** **Reistered charity no. 1165362 Company no. 09559467**