**Annual Report** _For the year ending 31st August 2021_ 


Charity Number 1169328 Company Number 08959020 



## TABLE OF **CONTENTS** 

02 

Company Information 

03 

Year in Review 

Structure, Governance and Management 

09 

Objectives 10 

Activities 11 

12 Performance and Achievements 

16 

Impact 

19 

Plans for Future Periods 

20 

Financial Review 

Independent 22 Examiner's Report and Financial Statements 



_2020-21 Annual Report_ 

_02_ 

## **Company Information** 


_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_ 

_03_ 


## **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_ 

_04_ 

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_ 

_05_ 

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_ 

_06_ 

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_ 

_07_ 

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_ 

_08_ 

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_ 

_11_ 

## **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_ 

_13_ 

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_ 

_14_ 

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_ 

_15_ 

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. 


**----- Start of picture text -----**<br>
400<br>300<br>200<br>100<br>0<br>Sept Nov Jan Mar May July<br>**----- End of picture text -----**<br>




## **MUSICAL EXCELLENCE** 

During the period of reporting: 

**5** 

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

**46** 

students passed an ABRSM exam **4** 

**14** 

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 


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


## **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_ 

_21_ 

## **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 Geo￿8,5 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 InJs*g8 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't*J'. Stalom8nl of Reu>mrner¥Jed Pradcé appI￿able to charrt* prepanng thelr
a¢rtsunts In accordance Flnand81 R￿Orty 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 I￿ety avallable lo opond on any oftho cl￿8 wrpo*g, The
Nueleo Project rnalntslns Ire& unTr81rfcted r¢$erva9.'
. lo provld8 8 thl olwc#ldng ¢4P￿81 that protects Ihe (￿linu1tyoI0urWark
- lo provlde o ￿ve1 gf lundlng lor unexpeded opportunltbB
- to pr￿de ￿verIOr￿s￿ 95 unloreseen expendltur• or unantldpatsd108s ofincom$.
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 th￿8.
Tha boarf of IIu8tseB ￿11 81 l¥nti8 deslgnats fund8 frorn fre8 res8rw8 for *nlflcant pmJ8Ct cost8 or r8pLgL*m8nt of m4or
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lo be •Ua lo Con￿￿￿ to proWth 8 wvlce to ourt*refickgri&B.
8TrUCTURI GOVERNANCE AND ￿NAGEMENT
Govgmlng document
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REFERENCE AND AOMINISTRATIVE DÉTAILS
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Mrn J Cam$fon
Independant Examlnor
l R Fulcher FCA
In81iiut8 of Chartertd Ace4)untsni8 In EnglarwJ and Wal88
BkcFw4ood Futthr& Co.
Chartts￿d Ac£ountonts
9 St George8 Yard
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Indfrpend8n* Examlne¢s Report to th• Tru8tges of
The Nucl$o Pro1￿t
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 8￿tsnts 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 reqtsl￿d 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 Direct￿￿8
given by the Ch8rily Commi88ion Ur￿er section 145151 Ibl of the 2011 Ad.
Indo￿ndent •xamlno¢8 statomont
Since your tharilys gross income exceeded £250,000 your ex8miner musi b8 8 member of 8 listed body. I r￿n 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 ConneCt￿n the exthmlnal￿n
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 [Tret￿8 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 understa￿Eng of the a￿Unts lo be reach8d.
l R Fulcher FCA
Inslilule of Chartered Ac¢ountants In Erol8nd Wales
Blackwood Futcher & Co.
Charte￿d 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 * legaC￿S
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

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31 Augu$t 2021
31.8.21
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31.8.20
Total
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UnrgStrided
Jnd
Resffictad
fund
FIXED ASSETS
TaNd1b￿ as4ts
4.CQ2
4,032
3,235
CiIRRENT ASSETS
Debtor8
C8sh al bank
1.616
131,889
1,616
229.569
1,842
177,044
97,880
133.505
97.680
231.185
178.886
¢REDITOR8
K*unts falbng du8 wlthkn one y•ar
12.5741
12,5741
157,4491
NEf CURREIIT A&8Ers
130,931
228,811
121,437
TOTALA88ET8 LE88 CURRENT UABILmE8
134,863
97,680
232,643
124,872
NeT ASIIET8
134,963
97.080
232,643
124,872
FUNDS
Unreslrfcted fvnd•
Rebtrktad fund8
10
134,963
97.680
,231
68,441
TOTAL FUNDS
232,643
124,872
Tho ¢h•rfth¢* ￿rnpanY 19 •nttttyd to axemplon from undar se￿On 477 otthe CcryanKg9 Act 2006 for the •ndod
31 A￿￿t 2021.
The rnernb6rn have not rnqulr¢d tha mmpany to oblaln 8n 8udrt ol flnardal 8tatement8 for th6 yoor •nded
31 Augu•l 2021 In 8￿rdance I￿1h 8gL¥on478 olthè CcfnpanlM Acl 2C(¢,
Th• tru•te88 acknthwhdge Ihelrrnopon$lbFl￿￿iS 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 su￿luS 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 p￿81￿• 4vl1cgb￿ to charllablo ¢￿pAn￿$
sub￿¢110 the 8m@n o)mp8nFes rtylmo.
Ibl
Wy%-I
Tho ffnando18tat•nkini8 ￿re Oppr￿ed 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 'AQxur￿n9 and Reporurg by Charities.. 818tement of
R8￿MMended Pracllce applicable lo charilles preparing their accounts in accordanc8 with tho Flnanclal Repol￿n9
standard applieablg in the UK and Ropublic of I￿lS￿d IFRS 1021 leff6clive 1 January 20191,, Flnancial Reportlng
Standard 102 The Financial Reportlng siondard aPpI￿able 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$&d k) Ihe Slalemenl of Fln8ncial Actlwli88 once th9 charlty hag entitlement lo th• lund8, 11 18
probable that th& Income will be received 8nd the amount can be meaSu￿d r81I8bly.
Expondllu
Li8bllllie$ are reco9ni¥ed as expendlture a$ soon a8 U*r¢ Is a legal or Co￿tr￿￿'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
t￿￿81fied under headings thgt aggregalg cost rtslstgd to the celegory. Wh$r• costs cannot be dlrèdly allrfbuled lo
partlcular h&adI￿8 Ihgy have been alloc81od to 8cl1%￿lIeS on a ba818 conslstsnt wlth tho use of resources.
Tonulblg flx•d aBBet8
Depreclalion Is provld¢d at Ihe followng annual rAt8s In ord¢r to wrlle olF eath a￿¢t over116 e61imaled useful Irf•.
Taxatlon
Thè eh8dty Is exeiw from ¢orporallon tax on 11$ 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 tr￿lee8. 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
EXpEND￿VRE 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 loThv*rd
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 Proj￿1
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 l￿d8, Induded In th8 above 8re 88 follows..
Incomlng
r•sources
Re80ur¢•8
eXp￿ded
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, I￿lud￿d In the obova or8 8s foll¢w6:
InCOn￿Trg
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
(xy￿￿8d...

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 f￿r¢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
ExPEND￿vftE
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 s1atlor￿ry
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 expe￿￿d
161
373.841
331.189
Net Incorn•
107,971
106,282
Th18 page does notform partof Ih? slatulory financlal statem9nts
Page 10