2021-08-31-accounts

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Annual Report For the year ending 31st August 2021

Charity Number 1169328 Company Number 08959020

Trustees

The trustees are also the directors of the company for purposes of the Companies Act 2006. The trustees who served during the period were:

I C Brunner

R A Davey (co-chair)

S Hermer

C N C Hodges (co-chair)

S Reasbeck

J Cameron

Key Management

Lucy Maguire (CEO)

Sophie Drysdale (COO)

Registered office

196 Freston Road, London W10 6TT

Bankers

Lloyds Bank, 50 Notting Hill Gate, London W11 3JD

I ndependent examiner

Blackwood Futcher & Co. Chartered Accountants

9 St Georges Yard, Farnham, Surrey GU9 7LW

2020-21 Annual Report

Year in Review

Looking back on this challenging year, we proudly reflect on the achievements of our students and express gratitude for the continued encouragement from our community and supporters.

In September we welcomed 330 students to the start of another year at Nucleo, online. Our teachers continued to see us through the pandemic with energy, creativity, patience and good humour. New starters as young as three embarked on their first instrumental lessons over

Zoom and students of all ages undertook as many online challenges, Zoom performances, video recordings and competitions as their teachers could conceive. Children not yet old enough to play instruments had a weekly online class with their parents/carers, whilst children and young people aged three and above had weekly small-group instrumental lessons, as well as a musicianship class. We offered three sessions each week to children over the age of four. For our younger and less advanced groups, there were two instrumental lessons and one musicianship class each week, and for our older and more experienced players we offered one instrumental lesson, one ensemble rehearsal and one musicianship class.

2020-21 Annual Report

Although these ensemble sessions took place in relatively small groups, we wanted to maintain the experience of playing as a group for these musicians. Unfortunately we weren’t able to continue our Traveller Programme due to Covid-restrictions at the schools where it is normally held, however we are planning to resume this programme from September 2021. We made improvements to our teaching programme, with five instrumental specialists hired to support our increasingly advanced musicians. The Stripes group for our advanced younger strings players continues to make great progress. We also launched a woodwindspecific group for players from beginner to grade 3 called the Wonderwinds.

In May we were thrilled to be able to resume some in-person sessions in reduced groups of up to 15. At this point we began offering one face-to-face class a week to children across all groups, while continuing their other classes online. By the end of the academic year this had increased to two in-person classes a week. Despite sessions being held in small groups with social distancing, it was wonderful to be able to play together again. Many of our newest musicians came into school for their first in-person lessons ever, and we couldn’t believe how much they had already learned. Our intention from September 2021 is to run all sessions in person.

2020-21 Annual Report

Although there were some positives to online learning, making music as a group from separate locations over Zoom presented a tough challenge. We believe that in-person playing and learning is far superior for children’s social and musical development, and this is reflected in the majority preference amongst our children to play side by side; however, should any future restrictions be imposed we are prepared to revert to online learning.

The conditions for learning music have been far from ideal over the last year, but we are nevertheless proud of the success of our online programme. We aspire to offer children the best possible learning experience, which has made the shift to

online learning an especially challenging one, given its inherent downsides. We believed strongly from the outset that offering something was better than nothing; the question remains as to how much better. With this year coinciding with the first year of our formal

evaluation programme, it is difficult answer this question objectively due to the lack of pre-existing data. However, we do report strong evaluation results;

children and young people have continued to make progress and demand for the programme has increased. It is on this basis that we judge the last 12 months to have been successful. Children who started learning instruments online

2020-21 Annual Report

have been particularly impressive. We were initially concerned that it would not be possible to teach this group remotely, all the more so due to the young age of some of our new starters; yet, with support from their parents, they got off to a promising start.

Our more experienced students have continued to grow from strength to strength. During the course of the year 46 children took ABRSM examinations, with 14 achieving distinction, including two at Grade 8. This coming September 5 more Nucleo students will be joining the Royal College of Music Junior Programme or the RCM / Future Talent programme,

where they will join the 8 Nucleo students already studying there. Over the course of the last year, we have been supporting our most promising young musicians through the Roger Horchow Scholarship programme, which has enabled 30 of our most committed and capable young musicians to receive weekly individual or paired lessons on their instrument. This is in addition to the group rehearsals and group lessons in which they take part. Four Horchow scholars have been admitted to the Royal College of Music Junior Department for the coming year.

2020-21 Annual Report

The restrictions caused by the pandemic meant that we were not able to showcase our students’ talent in the usual way. However, we have reconciled this setback with digital performances that have taken place throughout the year. In December we celebrated Giving Tuesday with an online recital emceed by two of Nucleo’s longest-standing students, and featuring performances by students aged 4 to 14. In January our students began preparing repertoire for Nucleo’s first ever performance with guest soloists and conductor. This project was created to motivate and inspire our North Kensington Children’s Orchestra through online lessons, by giving them an event to look forward to and the experience of

playing alongside some incredible professional musicians. Violinist Braimah Kanneh-Mason, singer-songwriter Ella Knight and conductor Natalia Luis Bassa met with the children over Zoom, and we worked toward an audience-less but inperson performance in July which we recorded and later streamed on our YouTube channel. We purposefully chose musicians of colour to reflect the majority in our own orchestras, as our students may not often see Global Majority performers represented onstage, either with or in professional orchestras. The same is true for female conductors in a male-dominated profession, and we were very privileged that our students had the opportunity to work with these three inspiring musicians.

2020-21 Annual Report

These talented professionals are

wonderful role models and the chance to work with them provided terrific motivation for our young musicians during a difficult year. The recorded performance was presented by our students and 163 people tuned in to watch it on the night, with many more still viewing it on our YouTube channel. It was heartening to finish this challenging year on such a high note.

“I loved playing with Braimah because he gave us lots of tips and advice on how to play the pieces and also he improvised on the way he played and gave us a few improvisation tips.”

“I really enjoyed working with Natalia because she made it really fun and really motivated me to play at my best.”

“It was really fun to record this concert because I was able to get together with my friends again.”

Members of the North Kensington Children’s Orchestra share their experience of the recording

STRUCTURE, GOVERNANCE & MANAGEMENT

Governing Document

In June 2021 the charity completed its conversion to a Charitable Incorporated Organisation, regulated solely by the Charity Commission. The charity is controlled by its constitution.

Organisation Structure

The trustees have overall authority for the charity, determining its strategic direction and ensuring compliance. Lucy Maguire, the founder and CEO, and Sophie Drysdale, the COO, report regularly to the board and work closely with the co-chairs.

Trustees are recruited with a view to filling any gaps in the expertise that we identify as important for a balanced and capable board. Before being appointed,

all potential trustees attend one or two meetings as an observer, make a site visit to see the project in action, and meet with the co-chairs and/or the CEO to discuss the charity and the role of the trustees. Trustees are appointed to the board for a term of 3 years. Any person retiring as a charity trustee is eligible for reappointment.

Recruitment, Appointment, Induction

and Training of Trustees

The trustees consider that a board size of six members is appropriate.

OBJECTIVES

The Nucleo Project’s charitable objects are to advance in life and help young people through:

a) The provision of recreational and leisure time activities provided in the interest of social welfare, designed to improve their conditions of life; and

b) Providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.

The Nucleo Project offers musical education and musical ensemble participation opportunities to children and young people, breaking down barriers to access by running our programme at no cost to participants.

The project is based in North Kensington, where 37.3% of children live in poverty.

The Nucleo Project strives to bring together children from across the full spectrum of the local community, to work together towards musical goals.

Through our work, we aim to develop not only their musical abilities but also their personal and social skills, with the ultimate goal of helping to broaden their horizons and equip them to fulfil their potential as members of a community, and as individuals in whatever life paths they choose.

2020-21 Annual Report

ACTIVITIES

The Nucleo Project is an after-school programme offering ensemble-based music education for children and young people from birth. All activities are free and instruments are provided (also for free) to all participants. The Nucleo Project is open to any child between the ages of 0 and 20 who is able to commit to attending the minimum number of weekly sessions required for his/her age group. Our core programme of activities consists of:

Ages 0-2

All ages

1 session per week - parent/carer and baby musicianship class.

Ages 3-4

1 session per week - group lessons on a string instrument (violin, viola, cello or double bass).

Ages 4-7

3-5 sessions per week – participation in an orchestra and/or group instrumental lessons. Violin, viola, cello, double bass, recorder, cornet, baritone horn or percussion.

Ages 7+

1 session per week for all students aged 3+ – classes focused on musicianship, musical literacy and music theory.

All ages PERFORMANCES

All students who have begun learning an instrument, at least 1 performance per term helping them to gain confidence and take pride in their achievements, providing them with an opportunity to share what they have learned with friends and family.

Advanced students SCHOLARSHIP PROGRAMME

4-6 sessions per week – participation in an orchestra or ensemble, including full ensemble rehearsals, sectional rehearsals and group instrumental lessons. Violin, viola, cello, double bass, flute, oboe, clarinet, bassoon, French horn, trumpet, trombone, tuba, percussion.

1 session per week – additional individual or paired instrumental lessons offered to around 30 of our more advanced students who demonstrate particular potential and a high level of commitment to their musical studies.

PERFORMANCE & ACHIEVEMENTS

Organisational Progress

The impact of the pandemic on our working methods necessitated a rapid transition to digital systems. MyMusicStaff facilitated the implementation of our online teaching programme by providing a framework for the management of student attendance and scheduling. Our staff are now very familiar with this system and it will continue to benefit us as we move back to full-time in-person teaching. The management team has been using Microsoft Office 365 and Teams in order to work effectively from home. This has improved the flow of communication and resulted in improved data security. This will be rolled out to the teaching and assistant teams in the coming year, such

that the whole organisation is working from the same platform. We have also made great strides with our evaluation programme thanks to funding from The Tudor Trust. We created a new evaluation framework in consultation with Sound Connections, who specialise in supporting music organisations with impact assessment. In September, Valentina Wright joined us as Learning & Evaluation Manager. Over the course of the year she has conducted research using student surveys, parent surveys, musical progress assessments, enrolment data, lesson observations and case study interviews. Valentina has passively involved every enrolled student in this research, using data gathered at enrolment and from teacher progress reports; roughly 250 students and 180 parents have been actively involved in the research by participating in surveys, teacher reports, observations and case study interviews.

2020-21 Annual Report

14 impact points were measured under the headings of: students’ social skills (e.g. listening & communication); students' personal skills (e.g. self-sufficiency); students’ musical skills (e.g. ensemble playing); and promoting equality & cohesion across socio-economic divides. The data showed that all 14 impact points were being well achieved, and most exceptionally so, including those of engaging students, giving them a sense of belonging, and developing selfconfidence. A wealth of feedback was collected from students and parents about the teaching programme, which has been collated and passed on to the relevant teaching staff. This included numerous expressions of praise for existing practices, as well as some suggestions for development. Despite the cancellation of all live events and the impact of Covid-19 on funders,

it has been a reasonable year for fundraising performance with £401k raised this financial year, as compared with the £437k total at the end of the 201920 financial year.

We underperformed against budget in the areas of corporate donations and events fundraising. This was largely because of the impact of coronavirus on businesses and on our ability to produce live events. With respect to trust and foundation income, we expect some challenges in the year ahead owing to the termination of both specific Covid funding schemes and multi-year grants. However, we have a strong body of impact evidence which we hope will strengthen our appeal to new funders and help us to attract repeat grants. With Covid restrictions now minimal, we also hope to see event and corporate donations grow over the coming year.

2020-21 Annual Report

As mentioned in last year’s report, Nucleo has been implementing a consolidation plan with four key aims: reducing our reliance on our founder/CEO; developing greater proof of impact; working on youth leadership; and broadening our funding sources. Most of the necessary work had been completed by the release of our last report, and our intention was for all steps to have been implemented by December 2020. The changes have meant substantial improvements in financial processes and reporting, coordination and organisation of the programme, and our enrolment and evaluation processes.

In December 2020 we said a very fond farewell to our founding Chair of Trustees, Chris Hodges. Chris had been with

The Nucleo Project since we first began in 2013, overseeing its development into the organisation it is today that serves over 300 children in our community. In February 2021 Richard Davey stepped down from the board to give more time to new ventures. Their experience, wisdom and unfailing generosity will be greatly missed. We are very grateful to Stephen Hermer who has acted as Interim Chair. Finding suitable premises for such a large programme has been an on-going challenge. In 2019 we were delighted to find a home at Queen’s Park Primary School. Sadly they will no longer be able to accommodate us from January 2022; we are therefore looking for a new teaching venue.

2020-21 Annual Report

Another change that has taken place this year is the move out of our office on Freston Road, which had been kindly donated. It was not possible to occupy this space during the lockdown, as it was required for other purposes and there was nothing to be gained in hiring a new space before the lifting of restrictions. We have functioned well without an office, but with a growing team, a collection of

instruments which we currently pay to store and a desire to restart face-to-face staff meetings next year, having one would certainly be useful. In the meantime, we have a new postal address, which is where we are registered with the Charity Commission; this is the most costeffective option in our present circumstances.

ACCESS AND INCLUSION

86%

During the period of reporting:

Based on English Indices of Deprivation 2019

of the children and young people enrolled identify as members of the Global Majority

33%

of the children enrolled receive Free School Meals

47%

Students attend different schools and speak over 100 different languages at home 45

of the children enrolled live in areas that are in the lowest 20% nationally on the IDACI

ENROLMENT FOR THE YEAR

In 2020 enrolment increased from 323 to an average of 331 students.

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400
300
200
100
0
Sept Nov Jan Mar May July
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MUSICAL EXCELLENCE

During the period of reporting:

students have been invited to join the Royal College of Music Junior Department or RCM / Future Talent programme

students passed an ABRSM exam 4

students passed Grade 8 with merit or distinction

students passed an ABRSM exam with distinction

students have been invited to

ASSESSMENT OF MUSICAL PROGRESS

Teacher assessment of students aged 7+, based on progress over the academic year.

Good technique. Autumn Term Good technique. Spring Term Good technique. Summer Term Good musical expression. Autumn Term Good musical expression. Spring Term Good musical expression. Summer Term Confident reading music. Autumn Term Confident reading music. Spring Term Confident reading music. Summer Term Confident playing in a group. Autumn Term Confident playing in a group. Spring Term Confident playing in a group. Summer Term 0 25 50 75 100

SOCIAL ACTION THROUGH MUSIC

During the period of reporting:

EVALUATION OF SOCIAL SKILLS

Data obtained through self-evaluation questionnaires

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Sense of belonging to a community. Autumn Term
Sense of belonging to a community. Summer Term
Empathy. Autumn Term
Empathy. Summer Term
Listening and communication. Autumn Term
Listening and communication. Summer Term
0 25 50 75 100
----- End of picture text -----

EVALUATION OF PERSONAL SKILLS

Data obtained through self-evaluation questionnaires

Self-sufficiency. Autumn Term Self-sufficiency. Summer Term Self-awareness. Autumn Term Self-awareness. Summer Term Self-confidence. Autumn Term Self-confidence. Summer Term Resilience. Autumn Term Resilience. Summer Term 0 25 50 75 100

PLANS FOR FUTURE PERIODS

Our key objectives for the future are:

To secure premises that are suitable for our growing programme in terms of facilities and location
To establish an inclusive culture and continue developing more inclusive practices
To ensure that diversity is a core value throughout the organisation
To develop communications and continue building our reputation as a leader in our field
To diversify funding streams and develop sustainable income streams, and increases in core funding and repeat or
long-term donations
To continue to approach our outcome measurement in a more detailed and developed way
To continue supporting the professional development of our current teaching team, and to develop a programme for the training of top calibre instrumental and ensemble teachers who are knowledgeable in Nucleo's methodology and philosophy
To develop a replicable model for the possible expansion of our project To consider growth beyond the current capacity of our teaching site and delivery team

FINANCIAL REVIEW

Reserves Policy

Reserves are that part of a charity’s unrestricted funds that is freely available to spend for any of the following reasons. The Nucleo Project maintains free unrestricted

reserves:

to provide a level of working capital that protects the continuity of our work
to provide a level of funding for
unexpected opportunities
to provide cover for risks such as
unforeseen expenditure or unanticipated loss of income.

The board of trustees will review the above

The board of trustees will at times designate funds from free reserves for significant project costs or replacement of major assets.

It is current policy that a minimum level of reserves should be held equivalent to three months of running costs in order to be able to continue to provide a service to our beneficiaries.

Funding Sources

The principal funding source for The Nucleo Project during the reporting period has continued to be grants from trusts and foundations. These can either be designated for general and ongoing running costs, or for the delivery of specific projects within the scope of our activities.

criteria with reference to The Nucleo

Project’s strategy and Annual Plan and determine the target level of free reserves to meet these criteria.

2020-21 Annual Report

Risk Management

The trustees recognise their responsibility for the management of risks faced by the charity (both financial and otherwise). A risk register is maintained by one of the co-chairs and reviewed annually by the board, or whenever an arising risk is brought to their attention.

Public Benefit

The trustees have had due regard for the Charity Commission’s guidance on public benefit and are confident that the activities of the charity provide current and ongoing benefit to the public.

At present, the greatest risk to the charity is the human resource risk that arises due to significant dependence on key members of the delivery team. The charity plans to mitigate this over the coming years by building, developing and training the team in order to reduce this dependence. As we grow we are cognisant that space is an issue and so we are actively engaging with other institutions to source larger premises.

REGISTERED COMPANY NUMBER: 08959020 IEngland and Walo$1 REGISTERED CHARrrY NUMBER: 1169328 Rèport of tho Trusta88 and Unaudltfjd Flnanclal 8tatsmont8forth8 Year Ended 31 Au9USt 2021 for Th• NuGleo Project 818ckwood Fulcher& Co. Chartered Accountants 9 St Geo8,5 Yar(I Famham Surrey GU97LW

The Nucleo Project Contents of tho Flnan¢lal Statèm8nt8 fortho Year Endvd 31 Augu8t 2021 Pag R•port of the Tru8te•s Inthp¢nd•nt Examln8r'8 Report St4tom?nt gf Flnanclal AGtlvl¢lo8 Balgn¢? Sh4•t Not•8 to the FlnanGlal Slatomonts 5 to 9 Dotgll•d Stot•mgnt of Flnanclol Actlvlll•s 10

The Nucleo Prnle¢t Report oftho TN&teeB forth• Ye¥rEndgd JI Augu8t2021 The InJsg8 who are 41so direthrs olthe ch8r6ty for the purpo8e8 of the Comp8nkry8 Act 20C6. wesent the rnport t finandal 8tst•n¢nts of the ¢harity for the r endgd 31 August 2021. The Iru8tee$ havo adopted the provlsion8 of A¢oJunllng ard R¢p•'ng by Chan'tJ'. Stalom8nl of Reu>mrner¥Jed Pradcé appIable to charrt prepanng thelr a¢rtsunts In accordance Flnand81 ROrty Slandard applkable In the UK and Republlc of lrnland {FRS 1021 l$ffedive 1 Jw)uary 20191. FINANCIAL REVIEW Re$eTv•¥ polley Rgeerve8 4r¢ that part of a th&rf1I8 unrèbtrfcted Ihal IJ Iety avallable lo opond on any oftho cl8 wrpog, The Nueleo Project rnalntslns Ire& unTr81rfcted r¢$erva9.' . lo provld8 8 thl olwc#ldng ¢4P81 that protects Ihe (linu1tyoI0urWark - lo provlde o ve1 gf lundlng lor unexpeded opportunltbB - to prde verIOrs 95 unloreseen expendltur• or unantldpatsd108s ofincom$. Th8 boarf of tru¢08 11 re¥W tha above cllerfa wlth r8ferenc to Tho Nucl&o ProJects 8tr8t•py and Annu Plan and ¢knTmlnts the t8iget level offr•o TE8erves to moet th8. Tha boarf of IIu8tseB 11 81 l¥nti8 deslgnats fund8 frorn fre8 res8rw8 for nlflcant pmJ8Ct cost8 or r8pLgLm8nt of m4or Currenlty Thè Nuclao Prol•# •kn• to hdd a mknknum level ol f•88rv88 1valent lo three monlh8 of iunnlng c4$ts kn ord•r lo be •Ua lo Con to proWth 8 wvlce to ourt*refickgri&B. 8TrUCTURI GOVERNANCE AND NAGEMENT Govgmlng document Thè ¢hgrity 9)ntrolled by h8 govomlw drAim•nl o deed oftru8L and ean8t#ute4 • ltrnM•J ojmpsny, Ilmlted by gu8rant, 4$ dafintd by tha C¢)mpankni Ad 2CQ8. REFERENCE AND AOMINISTRATIVE DÉTAILS Roglstored Company nvmb&r 039520 IErt9land and Wala8 RggIBt•r•d Charfty numb•r 1169326 R•gl•t•r•d offl¢• 196 Fr•ston Ro#d London W108rr Th18tw• M8 I C 8Nnner R A Davey Ir•8lgned 8.2.21) S Re88bad( S Hgrrner Mrn J Cam$fon Independant Examlnor l R Fulcher FCA In81iiut8 of Chartertd Ace4)untsni8 In EnglarwJ and Wal88 BkcFw4ood Futthr& Co. Charttsd Ac£ountonts 9 St George8 Yard Famham S(Krny Gug YLW b order ofth& bowd oftrusteeBon... of( ¥DLI . 1TrJ sned on R8 b•halfby'. P8llo 1 Scanned with Camscanner

Indfrpend8n Examlne¢s Report to th• Tru8tges of The Nucl$o Pro1t Indopandent •¥#mln8rfs report to tha tru8ts85 of Thg Nucl80 Project Illh8 Compan) l port to the charity trustees on rny examlnation ofthg acwunts of the Company for the year ended 31 Augu8t 2021. Responslbllltlos and basis of raport A8 the ¢harily's trustees of the Company la also its directois for the purpDse8 of cA)mpany Lqwl you are responsible for the prep8r8lDn of the 8tsnts in 8ccordance wth the requlrements of the CompanSes Act 20061Itr 2006 A¢f l. Havln9 satisfied myself th81 the accounts of the Comp8ny are not reqtsld lo b8 audited und8r P8rt 16 of the 2006 Act and are eliglble for ind8pendont ex8minallon, I report In respect ol my examinalon of your charity8 accounts as caFri8d out under sectk)n 145 of th8 Charitre5 Act 2011 Ilhe 2011 A¢fi. In carrylng out my examination I have followed tho Direct8 given by the Ch8rily Commi88ion Urer section 145151 Ibl of the 2011 Ad. Indondent •xamlno¢8 statomont Since your tharilys gross income exceeded £250,000 your ex8miner musi b8 8 member of 8 listed body. I rn CA)nflrm that I am qualified lo und6rtakè the examlnalion because l am a r89islered membar of In$lilul8 of Ch8rt9red AcLount8nts in Eng and Wales whlch is one of the listed bDdie5. I have wmpl&ted rny 8xamlnalK)n. I confirm th81 Th) matt8r8 have com8 to my attants'on In ConneCtn the exthmlnaln glvlng me ¢8use to b811eve', ccounllng tA)rdS were not k8Pt In respad of the Company as requlr8d by 8edon 386 of the 200e Act,. or the accounts do not accord wllh those recA)rds,' or the acfy)unls do not cofflply wllh the accguntlng qUIreMents tsf sedlon 396 of the 200e Act oth8r th8n any requirem8nl that the accounts giv8 8 true and f8ir vlew whlch is not a ma118r consldered 85 P8rt 01 an Indep8ndenl ex8mination', or Ihg accounts h8ve not been yeparèd In accordance wlth tha [Tret8 and prlnciples ol the Ststemenl of Recommended Pr8¢tice for accounllng and reportlng by charllles lapplic8bl8 to eharitle8 preparlng thelr 8ccoun16 in accord8nc8 wllh the Finandal Reporting Standard applicabla in the UK gnd Republic of Ireland IFRS 10211. I have no c<)ncem6 and have come acros8 no oth•r matter8 In eonn8cllon with the ex8mSnation lo which 8tlenlion should b8 drawn In Ihls report In order to $nable a prowr understaEng of the aUnts lo be reach8d. l R Fulcher FCA Inslilule of Chartered Ac¢ountants In Erol8nd Wales Blackwood Futcher & Co. Charted Accountsnts 9 St G8orye'6 Yard Farnham Surrey GU9 7LW Date., Page 2

The Nucl80 Project statemènt of Flnan¢ial ActlvltJg$ for thB YtarEnde(131 August 2021 31.8.21 Total funds 31.8.20 Total lunds Unreslrlct8d fund ReslrldBd fvnd Not8S INCOME AND ENDOWMENTS FROM Donatl)ns * legaCS 393,471 83.588 477.039 437,471 Other Income 4,773 4,773 Total 398,244 83,568 481.812 437,471 EXPENDITURE ON Charlt8b18 8CtivlUes 79.878 54.329 134.007 173,960 Support C06t6 239,834 239,834 157.229 Totsl 319,S12 373,841 331,189 NET INCOME 78.732 29,239 107,971 106,282 RECONCILIATION OF FUNDS Totsl fund8 brought forward S6,231 88,441 124,6n 18,390 TOTAL FUND8 CARRIED FORWARD 134.963 97,680 232,643 124,672 The nots8 form partof these finanri81 slalem6nts Page 3

Tho ¢180 ProJ•ci Balancè Shoot 31 Augu$t 2021 31.8.21 Total fvn¢Js 31.8.20 Total fund$ UnrgStrided Jnd Resffictad fund FIXED ASSETS TaNd1b as4ts 4.CQ2 4,032 3,235 CiIRRENT ASSETS Debtor8 C8sh al bank 1.616 131,889 1,616 229.569 1,842 177,044 97,880 133.505 97.680 231.185 178.886 ¢REDITOR8 Kunts falbng du8 wlthkn one y•ar 12.5741 12,5741 157,4491 NEf CURREIIT A&8Ers 130,931 228,811 121,437 TOTALA88ET8 LE88 CURRENT UABILmE8 134,863 97,680 232,643 124,872 NeT ASIIET8 134,963 97.080 232,643 124,872 FUNDS Unreslrfcted fvnd• Rebtrktad fund8 10 134,963 97.680 ,231 68,441 TOTAL FUNDS 232,643 124,872 Tho ¢h•rfth¢ rnpanY 19 •nttttyd to axemplon from undar seOn 477 otthe CcryanKg9 Act 2006 for the •ndod 31 At 2021. The rnernb6rn have not rnqulr¢d tha mmpany to oblaln 8n 8udrt ol flnardal 8tatement8 for th6 yoor •nded 31 Augu•l 2021 In 8rdance I1h 8gL¥on478 olthè CcfnpanlM Acl 2C(¢, Th• tru•te88 acknthwhdge Ihelrrnopon$lbFliS for {al en5ydng Ihat Ihg ¢hBrl¢ak4e cornpany keepB aeo)tsnlng r•o)rd• that vllh S•dorto 388 and 387 01 tho Companles Act 2006 and prnparirnJ financial $lat8m$nts bthlL* gfv• & bue and lotr vknw ol tho State of affalrn of the ¢h8rftabl• rnpanY 41 41 Ihe end ol each finandal year arKI of tt8 suluS or defidl for eath finandal y•ar In accj)rdan w4th th• requirements ol SeL11on8 394 and 395 and whkh othervlB8 ¢omply wtth t roqulremonts of tho Compan588 AQ 2006 rejatino t¢ fift•1 gtatsmants. 80 Igr aFplkth lo the ch•rltgblo Company. Th&se fingndol 6tat•rnonts hovo fvW9r•d In aw)tthn¢• wxh the p81• 4vl1cgb to charllablo ¢pAn$ sub¢110 the 8m@n o)mp8nFes rtylmo. Ibl Wy%-I Tho ffnando18tat•nkini8 re Oppred by Bowd ol Trustees and authothd lor IBI on ..... ..... ...... ............,..,...,... and were elJrxd Its behalfby. The notes fom part ofthe80 flnan¢L918tatsrnents Page4 Scanned with Camscanner

Th¢ Nucloo Prol8Ct Notes to fhe Flnancial Stat¢monts forthÉ Year Ended 31 Au9USt 2021 ACCOUNTING POLICES BasÈ5 of pteparlng tho financlal statemant$ The financial stgt8m8nts of the charitsble company, whlch is a publi¢ benefit entity under FRS 102, have tÉ8n prepared in accordanc8 wllh thg Char1116s SORP IFRS 1021 'AQxurn9 and Reporurg by Charities.. 818tement of R8MMended Pracllce applicable lo charilles preparing their accounts in accordanc8 with tho Flnanclal Repoln9 standard applieablg in the UK and Ropublic of IlSd IFRS 1021 leff6clive 1 January 20191,, Flnancial Reportlng Standard 102 The Financial Reportlng siondard aPpIable In thg UK and Républic of Ireland. and the Companies Act 2006. The finandal slat8m8nls have been prepared uThlor the historical cost Convention. Income All Income 18 r8cognl$&d k) Ihe Slalemenl of Fln8ncial Actlwli88 once th9 charlty hag entitlement lo th• lund8, 11 18 probable that th& Income will be received 8nd the amount can be meaSud r81I8bly. Expondllu Li8bllllie$ are reco9ni¥ed as expendlture a$ soon a8 U*r¢ Is a legal or Cotr'v¢ obllgalon commilling th8 th8rtly le that expenditure, it is prob8ble that a Irsnsfw of economic ben8fl18 wlll be requlrad in selllemenl 8nd the amount ol the obllgation can be m885ur8d reliably. Expèndilure Is a¢counled for on an oc¢ruÈl$ b8818 and h88 been t81fied under headings thgt aggregalg cost rtslstgd to the celegory. Wh$r• costs cannot be dlrèdly allrfbuled lo partlcular h&adI8 Ihgy have been alloc81od to 8cl1%lIeS on a ba818 conslstsnt wlth tho use of resources. Tonulblg flx•d aBBet8 Depreclalion Is provld¢d at Ihe followng annual rAt8s In ord¢r to wrlle olF eath a¢t over116 e61imaled useful Irf•. Taxatlon Thè eh8dty Is exeiw from ¢orporallon tax on 11$ charllable actlvltles. Fund 8Gwuntlng Unre8tricted lundg can be uBgd In occordsnc8 wllh the charltable obl•dlve8 at Ihe discwJon of thg tru$1008. Restrfcted funds onty be used lor partlculgr rostrleted purposes wllhln tho obj8CtB of Ihg charty. Reslrfctlon$ arise when spadfl8d by Ihe domr orwhon fundB arg r81sed lor pgrtlcu18r reslrlcleé purpos88. Further explan4Ion ol the neture and purpo8e of each lund is Indud8d In the mles to th& fwn¢l818talemenls, Pgnmlon costs and other pog1.r•tlr8mtnl bengnt# The charltabl• company oper8te8 8 d8fined conlribulFon pen¥Dn scheme. Contrtbullons payable to the eharitablè company8 pension 8¢heme ere charE8d tD th8 Slalgment ol Flnancial A¢llvlUes In the perlod to whlch thty r¢lal9, NET INCOMEIIEXPENDITUREI Nel IncomWlexpendllurel Is gtated aftor¢harglnglluedttlngl'. 31.8.21 31.8.20 DepreClatEon-oWn assels 1,365 181 P8ge 5 CDntkned...

Tha Nu¢lo0 Project Notes to the Flnan¢lal Statements- contlnued forthe Y8ar Ended 31 August 2021 TRUSTEES. REMUNERATION AND BENEFITS There w8r no trust, remuneration or other benefits lor year ended 31 Augu8t 2021 nor for the ygar ended 31 August 2020. Trusts•s' 8xp8n888 There wgre no trlee8. exp8n8e8 pald fortho year 6nd£d 31 August 2021 norforthe year ¢nd8d 31 August 2020. STAFF COSTS The averago rnDnlhly numb¢rol employ885 cluring yo8rw86 as lollow$.' 31.8.21 31.8.20 No Bmployees r8c•W emolumènts In gxcess of£60,000. COMPARATIVE8 FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unre3lrfct8d fund Re$lri¢ied fu Total lund$ INCOME AND ENDOWMENTS FROM DonalK)ns and legx 290,337 147,134 437,471 EXpENDVRE ON Charllablg acllvilles 95,267 78,693 173,960 SuppDrt C08t8 157.229 157.229 Total 262,496 78,693 331,189 NET INCOME 37,841 88,441 106,282 RECONCILIATION OF FUNDS Total fund5 brought loThvrd 18.390 18,390 TOTAL FUNDS CARRIED FORWARD 56,231 68.441 124,e72 Page 6 txintinuBd...

Tho Nu¢lg0 Project Not•s to Flnancial Stat•m8nls. ¢ontinugd forth? Year Ended 31 August 2021 TANGIBLE FIXED ASSETS Computsr equlpmenl COST At 1 S8pl8mber 2020 Addlllons 3.396 2,162 Al 31 Auous12021 5,558 DEPRECIATION Al 1 Seplember2020 Ch8rge foryear lei 1.366 Al 31 August 2021 1,52e NET BOOK VALUE Al 81 Augusl 2021 4,032 At 31 AuguBt 2020 3.235 DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 81.8.21 31.8.20 Other debtor8 Prepayments 400 1,216 1,179 1,618 1,842 CREDifoR8: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8.21 31.8.20 Bank loans and ov&rdr8ft¥1see 91 Othor ¢redllors A¢crued éxpenseg 50,0(h) S94 6,855 694 1,980 2,574 57,449 LOANS An analysis of the malurlty ol loan8 1$ glven below.. 31.8.21 31.8.20 Arnounl$ falling due wilhln one year on dernand.. Bank108ns 50,000 Poge 7 continued...

Thè Nucloo Proj1 Noto$ lo the FInan¢1 Statsment5. contlnued for the Yoar EThJed 31 August2021 10. MOVEMENT IN FUN08 movement in funds At 31.8.21 At 1.9.20 Unro8tri¢tgd fund& Genoral lund 56,231 78,732 134,983 R?6trf¢ted funds Reslri¢ted 68,441 29,239 97.880 TOTAL FUNDS 124,672 107.971 232,643 Nat mvvemenl In ld8, Induded In th8 above 8re 88 follows.. Incomlng r•sources Re80ur¢•8 eXpded Mov8ment In fund8 Unrn8trfGt8d funds General fund 398,244 1319,512 78,732 R&•trfctsd lunds Re81rf¢ted 83.S68 154,3291 29,239 TOTAL FUND8 481.812 1373.8411 107,971 Comparatlv•8 lor movemènt In fundg Nel movemgnt In lunds Al 31.8.20 Al 1.9.19 Unr•strlctèd fund6 General fund 18.3 37,841 66.231 Ro•trfct•d fundo Reslrided 68,441 68,441 TOTAL FUNDS 18,390 106,282 124,672 Comparative net movement funds, Iludd In the obova or8 8s foll¢w6: InCOnTrg r•8ources Resources ¢xpended Movoment funds UnTrstdctod fvnd5 G9nEral fijnd 290,337 1252,4961 37,841 R88trlctsd fvnd6 Reslricted 147,134 178,6931 68.441 TOTAL FUNDS 437.471 1331,1891 106,282 Page 8 (xy8d...

Th? Nucleo Prolect Notesto the Financlal Statements. continued for thg Ytar Ended 31 August 2021 MOVEMENT IN FUNDS. Gontinu¢d 10. A current yew 12 rronthg 8nd rxlory&8r12 month¥ comblned rxisilk)n 18 88 fr¢W8. Net movement In funds Al 31.8.21 At1.9.19 Unrfjstrfcted funds General fund 18,390 116.573 134. R8Strl¢ted funds Reslrlcled 97.fj80 97.680 TOTAL FUNDS 18,390 214.253 232.fj43 A current year 12 months 8nd prfor year 12 m¢nlh8 combkned not movement In fwds, Includ¢d In t above 9r8 as lollow8'. Ino)rnlng resourr48 Resources expended Movement In fund Unr8•trlct•d funds Gfyneral fund 668.681 1572,0081 116.5Y3 Rt$lTl¢t•d fund8 Reslrlcted 230,7e2 1133,0221 97,680 TOTAL FUND8 919.283 1705,0301 214,263 11. RELATED PARTY DISCLOSURES R Dawy dDnated orri¢e 6pac8 lo the chgrlty wlth an ¢pen value 01 £10,000 during the y84r. Fi Davey LI chalr of Maoar•l Klllbory Found8Ion, whlch donBled £25.000 during the year. PagÈ g

Th• Nucl¢o ProJect Dotallod statsment of Flnancial ActSvltloS for the Year Endod 31 August 2021 31.8,21 31.8.20 INCOME AND ENDOWMENT8 Dongtlons and lega¢l88 Don8tEons Gift old 463.145 13.894 423,696 13.775 477,039 437,471 Othor Incom• Job rètention schem8 4.773 Total Incomlng resourc88 481,812 437,471 ExPENDvftE Charltabl¢ a¢tlvlt108 TeaGhlng fees Instruments pnd rnlaled ¢06ts Bad debts Hall event hlre Tlckels and Irlps Repeirn renew81$ Slor?ge 103.116 19,7g5 70 5,909 750 515 3,852 124.010 17,595 25,366 700 2,SS3 3,736 134,007 173,960 Support Costs Support stafl PeTTrBSpns In8ur817Cts Accountancy Telephone Postage ancj s1atlorry Advertising Sundrie8 Tr8inlng Profession81 fee$ Bank chargès CompulerexpeThyey Rfynt Consthncy fee8 Sub$crlpdon8 174.680 3,137 1,788 4,003 1,178 113,981 2.346 1,722 2,614 854 822 250 1,263 1,882 1,122 216 394 17,520 15 1,929 10,000 19.2CQ 4,498 10,000 19.200 595 238,469 1S7,068 Othor Depreclalkjn of tang$ fixed assets Total resources exped 161 373.841 331.189 Net Incorn• 107,971 106,282 Th18 page does notform partof Ih? slatulory financlal statem9nts Page 10

TABLE OF CONTENTS

Company Information

Trustees

Key Management

Registered office

Bankers

I ndependent examiner

Year in Review

STRUCTURE, GOVERNANCE & MANAGEMENT

Governing Document

Organisation Structure

Recruitment, Appointment, Induction

and Training of Trustees

OBJECTIVES

ACTIVITIES

Ages 0-2

All ages

Ages 3-4

Ages 4-7

Ages 7+

All ages PERFORMANCES

Advanced students SCHOLARSHIP PROGRAMME

PERFORMANCE & ACHIEVEMENTS

Organisational Progress

ACCESS AND INCLUSION

ENROLMENT FOR THE YEAR

MUSICAL EXCELLENCE

ASSESSMENT OF MUSICAL PROGRESS

SOCIAL ACTION THROUGH MUSIC

EVALUATION OF SOCIAL SKILLS

EVALUATION OF PERSONAL SKILLS

PLANS FOR FUTURE PERIODS

Our key objectives for the future are:

FINANCIAL REVIEW

Reserves Policy

Funding Sources

Risk Management

Public Benefit