Charlty regl¥tration number 1183881 {England and Wale8)
THE ISLAND COLLECTION
CREATIVE ISLAND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
• xeinadin

THE ISLAND COLLECTION
CREATIVE ISLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Tru8teeg
Mr F Figueiredo-stow
Mr J Whitewood
Mr S Harrison
J Gazzard
Ms J Cusa¢k
M$ N Collins
V Presltsn
Ms S E Chatwin
Dr R Tail
(Appolnled 16 Juty 2024)
Charfty numb•r (England and Walesl
1183881
Indèpendènt èxamlner
Hazel Day
Xeinadin London Limited
46148 Easl Slreet
Epsom
Surray
United Kingdom
KT17 1HQ

THE ISLAND COLLECTION
CREATIVE ISLAND
CONTENTS
Page
Truslees. ￿port
Independenl examiner's report
Slatement of finan¢ial actiV41ies
Balance sheet
Noles lo Ihe financial slalements
8-15

THE ISLAND COLLECTION
CREATIVE ISLAND
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 IkqARCH 2025
The Tru$leg3 pres¢nl their annual report and financial slalemenls for the year ended 31 March 2025_
The financial slalemenls have been prepared in accordance wilh Ihe accounting policies set out in note 1 to Ihe
rinancial slalemen15 and comply with the Charily's goveminy (Jocumenl, thè Charitie$ Act 2011, FRS 102 "The
Finan￿3[ Reporting Slandard applicable in the UK and R8public ol Ireland. and the Charities SORP 'Aceounling
and Reporting by Chaillles.. Slalemenl of Recommended Praclice applicablè lo charili08 prepaiing Iheif a¢counls in
8c¢ordance wilh Ihe Finanual Reporting Slandald applirable in the UK and Republi¢ ol Ireland IFRS 1021"
Oblectlves and actlvltles
The puwpose ol the charily is to promote arts, euliurè ènd heritage on Ihe Isle of Wght by supporting, promoling and
dèv6loping Ihelslanif5 arts. cullural and heiilage sector loi Ihe be￿er11 ol all
Piiblic b&n&lil
Th2 Trustees have paid d¢te re9ard to guidance issued by the Charity Commission in decirfing what aclNities Ihe
Chailly sI￿ukI undéFl8ke.

THE ISLAND COLLECTION
CREATIVE ISLAND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achl6vements and perfom)anc
SlgnificBiIE Bctlvilies and achievemenls &gainst obiecfiv&s
Thé past yéar has boèn ona ol consolidallng Crèative Islands rola as Ihe Gvllural Development Agency for the Isle
lor Wght. 11 has cequired us lo build a range ol partnerships Ihat bring Ihis into realily. exiending our role as
conveners. undeislanding Ihe islands place viilhing Ihe Solent and ovr tole as sUPPOrters of others ambilions. It has
been a 9ood year. INe are cleaier aboul our purpose, stepped inlo a leadetship and lacililator role lar cullure on Ihe
island and region81ty. We havè built new 8nd sometimes surprising partnerships and be9an to undersland Ihe scale
of what Is PDssible.
Rellecling Dn Ihe aclil4lles we sel oursetves In the prethous year11 is ple8slr49 to see Ihe progress we have rn8de i
moving all of those ambiltons foTward. We have rn8naged, wilh the svpport ol every patl ol the island, lo build a
Pl8¢8 P8rtnetship, Can Yoti Hear Us, allra¢lin9 coTrslderable inveslfflent from Ihe Arts Council. nurtuieil a
partnership with the National Herilage Lollery Board. begun lo work wilh libraries 8Trd eslabllshed a dialogue w*lh
other UK islands.
We continue lo work as des¢¥tbing who we are as one single entily with a sèriBs of interconnected programmÈs. the
CEP, Talent Development programm8, museum developmepl and 8lialegic development.
A partial list ol olhei achievements ol Ihe pasl year indude..
Evolved Ihe board, recruiting new members who bring a range ol ski115 and experienees including in puuic
heallh. economic development and place building.
Buill Towij Convers81ions, 88 five loc31 ¢ullural lorum5 across the island that meel regylarfy to explore
shared arnbilion5, Inloim our development and St￿ng1hen the Islands eullurÈl ecology.
J(ined the Local Aulhoiilies Economic Development Board c4>nlributing lo the devebpmenl of the islands
Growih 8nd Piospèrity stralègy by lèadlng thè cullural and commvnily strand.
Led Ihe eslablishmgnl ol regular meetings wilh Soulhamplon Fo￿aid and Portsmotrth Creates to develop
a sh8rÈd. gr8ssroois sense of Ihe collÈclbVÈ neéds Ènd ambitions ol the Solent.
Conlrlbuted to the development ol a Solenl Cvllural Plan lavnched al Soulhsmpton FC as a fore-runner lo
an emeiging combined authority.
Secured a £700k Place Part*)ership as an expression of the share6 ambitions ol Ihe curiural seclor to
express the island as a progrossNe. ambilious and Ix)nlemporary sel of comrnunÈties.
Established a UK islands nelwork of 10 who meet regularly lo explore shared challenges, ambilions and
solutions.
Se¢LFred Pasl Fulures as a £250k HLF award in parlnershlp wtth HIWCF lo cieale a small grants
programme for Ihe islands heritage sector.
Convened the festival sector lo explore shaied challenges and joint woiking POS5ibiltties.
Convened iegvlar me8lings with the five NPOS. idenlitying shaied ambilions and leafniTrJ OF)POrtunilies.
Re-eslablished Ihe islands Open Sludio as a separate CIC now In ils second year.
seC￿red investment from ACE to delivEr inl8rnational exehangè with Tersheljing lh8 Netherla￿d8 with
6 Soulh East England island based producers.
Continued lo build ¥elalionships behveen schools and the cvllural communlty linklng s¢hools wllh local
opportunilies with examples including Fulure Ciealives. Careers week 2025.. delivered grom 3r0
71h
Febwary 2025 involvin9 28 Cvllvravctealive oiganisalvJn5 and 28 of th8 island$ 55 schools.

THE ISLAND COLLECTION
CREATIVE ISLAND
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Futlh¢r t1evelopBd the Crèalive nelwork continues lo increase lo 180 m9mbers fiom every part ol Ihe islan¢F
as a lalenl developmenl programme for Ihe islands cvllural sector.
Delivered 5 Creative B￿sIneSS Development menlorfng sesslons to 5 creative organlsallons. 18 Crealive
Advisory Sessions lo Ireel3nce pr8Ctilioner$, 8 nelworking events al IW cultural venues and 2 Orf-islan
away days to Soulh8mpton and G05POrt. with Iree ferry Iravel from bolh Red Funnel and ￿9h115￿k.
Throughoul this pa31 yearwe have beeD owgar*isin9 Ihe infraslruclufe. relationships and means of communic4ting to
be able lo deliver on our staled mission of 'contributing lo Improving the qualily ol lifè ol all Ihe people of the Island..
Flnanclal rèvièw
The Charity had suffieAenl fvnds in plac6 to ènsu¥e il eould cary oul ils charilable objeclives
Resewespolicy
The Trustees have r8VtèwÈd lh8 1Èservès policy 8nd believa ihat Ihe Charity $hotsld sim ts) hold 6 monlhs of
nreslricled expendilure. The Iiuslees considei Ihal reserves al this level wlll ensure that, in Ihe event of a
Slgnifira￿1 drop sn funding, Ih&y will be able lo continue Ihe tharity'8 current aclivilies while considei81ion is given lo
ways in which addilional funds may be rzised.
Plans for fulure porlods
Futurè Plan$
We are now two years into Ihe islands len-year slralegy All lh8 Woiid8rwhi¢h informs our direction of Ir8vel and
sh8pes lh8 conveTsalions we have wilh olhers. During 25r26 we Inlet￿ lo underfake an lTrle¥irn review ol that
slrate9y and ensure il is still an expression ol our shared ambiiions lor the island. We intend lo use Ihe opportEinity
of Ihe Place Partnership lo slienglheF¥ the islands cullural ocology, making the besl usp of our ￿lleCtiVe tesouT¢es
and ensure that thé Islands voice is heard in ￿gional 8nd national discussions espeeAally with the emerging
combined aulhorily. Over and al)ove Ihese we pl8n lo..
Deliver Pa$1 Fultir&s in partnèrship with NHLF and HIWCF whilsl developin9 Iho capacity of the heritage
seclor.
ild an alli8nce with Ihe cullvial developFnenl bodtes ac105s Hampshire and Stslenl to eftsure a coledsve
grassroots expression of Ihe ambitions for Ihe places we live.
Work with Ihe islands Museum Forum and Museum Oevelopmeftt Southwest on a disereel programme to
ensure we have the $lruclures and le8dership in pla¢e lo en$yre Ihe heritage se¢loi Ihrives.
Establish five sub commillees of Ihe board each lo indude a wder sel tsf inleresled parties lo ensure we
are infomied aml connected lo other agenc¢es.
Build a stronger relalionship with Public Heallh and Ihe islands NHS.
Nurture a partneiship with the island5 carnival secior.
Fudhef build Ihe Crealwe lQetwork £s a IRlenl development programme for the island.
Consolidate the Creative Careers week snd explorè apprenliee and enlrylgvel roles
stnJ¢tUTe. governance and managemont
The Chatity is conlrolled by ils goveiniag document, a deed ol Iwsl and conslTrlules an unincorporated charily.

THE ISLAND COLLECTION
CREATIVE ISLAND
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Tnjstees who served dutlng Ihe year and up lo the dale of $tynalvre of the financial statements wece=
Mr F Figueiredo-slow
Mf J ￿lI￿Vio￿d
Mr S Ffairison
J G8zzard
Ms J Cusa¢k
Ms N Collins
V Pieslon
Ms S E Chalwin
Dr R Tait
IAppolnl8d 16 July 20241
The Truslees, report was approved by ihe Board ol Tvuslèes.
Mi S Harrison
Trusle8
Dale..
1.1 l.i.:....l. z !'

THE ISLAND COLLECTION
CREATIVE ISLAND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE ISLAND COLLECTION
I report to the Truslees on my èxaminalion of the fir*ancial slalemenls of The Island Collection (the Charilyl lol the
year èndèd 31 March 2025.
R8spon81bilities and ba81s of report
As the Tiuslees of the Charily you ale responsFble for Ihe prepafalion of the financial slalemenls in aCcordaTr￿ wilh
Ihe requiremenls ol the Ch8tili8s Act 2011.
I report in respeel ol my èxaminalion of Ihe Charity's financial slalements Ca￿ed out ttndBr section 345 of Ihg
Chari119s Acl 2011. In carrylng Qut my exatn1natl(￿ I have followed Ihe Diredions given by the Charity Commission
under section 1451Sllbl of ¢he ch8riliesAcl 2011.
Indèpendent examlneV$ $l•i?mtnt
Sln¢e the Charity's gross Income exceeded £250.000, the independent examinEI musl be a membei of a body
listed in section 145 01 the Challlies Acl 2011.1 confirm Ihal l am qualified to undertake Ihe exaininalion because I
am a membeF Of Ihe Inslilule of CharteredAccountants in Engla￿￿ and Wales, which is one of the lisled bodies.
Your allenlion is drawn fo Ihe fact that the charity has prepared Ihe financi81 slalemenls in accordarsoe wilh Ihe
relevant version of the Sialemenl of Recommended Practice applieable to charities prep8ring Iheir finanual
slalements in accordance wlh Ihe Financl81 Reportsng Slandaid applicable in the UK and Republic of Ifeland IFRS
1021 in Preferen￿ lo Ihe Accounting and Reporting by Charities.. Slalèmenl of Recommended Pradice issued on 1
Awil 2005 which is ieferred lo In Ihe e￿an1 regulations but has now been wilhdrawn. l undersland that Ihis has
been done in order IOT the financial slalements lo provide a tnje and fair VEÈW in 8ccordaft￿ wilh UK Generally
A¢￿pIed Accounling Praclioe.
I have completed my examinalion. I confrrm Ihat no matters have conie lo my allention in conne¢tion WFth the
exaniinalion giving ma cause to beliève Ihal in any malerial respecl..
accounling records werè nol kèpl iri respeel ol IhÈ Chaiily as requi￿￿ by seclion 130 01 Ihe ChaTities Act 2011.
the financial statÈmenls do not accord with those records,. or
the financial statements do not comply with thÈ applicabl& requ¢rements concernlng the forfft and conlenl of
financial slalemenls Set olrt in Ihe Charili8s lAc￿￿nIS and Reports) Regulalions 2008 other than any
¥equiiemÈni that the financial slalemenls give a Irue and lair wew, whlch Is nol a mallei considered as part ol
an independent ex?tlliFialion.
I have no concerns and have como across no olher niallers in connection wilh Ihe examination lo which allenllon
Should be drawn in Ihis repori in order lo er+able a proper understanding of the fin3naal slal8m8nts lo be Fe3ched.
Hazel Day
Xeinadin London Limiled
46148 East Slreel
Epsom
Suriey
KT17 1HO
Unlled Klngth)m
Dale..
1gJfft.1.90.gs

THE ISLAND COLLECTION
CREATIVE ISLAND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestrlcted R8slricled
lunds
funds
202S
2025
Total Unrestricted Restrlctèd
fund$
fuwtds
2024
2024
Totsl
2025
2024
Notes
Income from:
Charitable acliwlies
OlheF Irading aclivilies
226.583
5,575
80.189
306,772
5,575
214.350
4,770
20,500
234,850
4,770
Total In¢ome
232.158
80.189
312,347
219.120
20.500
239.620
Expenditure on:
Cha¥ilable aclivilies
188,068
44,939
233,005
151,290
4.107
155,397
Total oxpèndlture
188.066
44,939
233,005
151,290
4.107
155,397
Not Income and movement in
funds
44,092
35.250
79,342
67.830
16,393
84,223
Reconclliatlon of funds:
Fund balances al 1 Apiil 2024
74,197
16.393
90,590
6.367
6.367
Fund balances at 31 March
2025
118.289
51,643
169,932
74,197
16.393
90.590
The statement of financial activilks Inclu¢Jes all gains and105ses recognised in the yea¥. All incorne and expendilure
dersve from tonI￿￿Ul￿g adwilies.

THE ISLAND COLLECTION
CREATIVE ISLAND
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notès
Fixed assets
Tan9ible as5eis
3,857
2.611
Current
Deb1015
Cash al bank and in hand
12
765
175,087
95,459
175.852
95.459
Creditors.. amounls falling due withln
ontr year
13
{9.7771
17,480)
Net current 8858t8
168,075
87,979
Total assèts le8$ Current liabllilles
169.932
g0,S9
The funds of the CharSty
Resliicled income funds
Unreslricled funds
15
16
51,643
118.2B9
16.393
74,197
169,932
90.590
The financial slalemenls were approved by the Truslees on .
LS..l! I ILO IS.
Mr S Hauison
Trust••

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlny poll¢les
Charlty Informatlon
The Island CollèclioR 15 8 Charflable Incorporated Organlsalion (CIO). The ieglslered Offi￿ address is
Building 41, Nowporf Road. Cowes. Isle ofwighl P031 8BX.
1.1 A¢¢ounling Gonventlon
Tho fjnancial slalemenls havè been prepared in aecordance with the Ch8rills governing docurnenl, the
Charities Act 2011. FRS 102 "The Finandal Reporting Standaid 8ppli¢able in Ihe UK and Republic ol Ireland
and Ihg Charities SORP 'AccoU￿tIng and Reporting by Charities.. Slalgmenl of Recomm8ndèd Piaclice
applicable lo charities preparing Ihelr ac¢ounls ij) accordance with Ihe Financial Reporting Slandard
applicable in the UK and Republic of Ireland IFRS 102)" The Charily is & Public 8enefil Enlily as defined by
FRS 102.
The Chaiily has laken adwanlage ol the provssitsF*S in the SORP lor chariliès not lo piepare a slal¢rn8nl of
cash flows.
The financial slalements have departed Irom the Charities {Accounls and Reports) Regulations 2008 onty lo
the extent requirèd lo provide a Ime and falr vlew. This deparlure has involved following the Slalement ol
RecommÈRded Pra¢li¢e lor charities applying FRS 102 ialher Ihan Ihè vèrsion of the Slaternenl of
Recommended Pra¢lice which is reler￿d lo ￿ Ihe Regulations twt which has since been wilhdiawn.
The financlal slalernents are pEpared Fn sleJling. which is the functional cwfency ol Ihe Charily. Mon8lary
amounts in Ihese finanoial slalefftenls are rounded to the nearest £.
The financial statements have been prepared under Ihe hislorieal ¢ost convenlion. Imodif￿d lo include Ihe
fevaluallon ol freehold pioperlios and lo Include inveslmenl properlies and certain financial instfttmenls al fair
valuel. The principal ac¢ounling poliues adopted are sel out below.
1.2 Golng coi)¢orn
Al the lime of appioving Ihe financial slalemenls, Ihe Ttuslees have a ieasonabl8 expectation thal Ihe Charity
has adeqtsale iesources lo continue in operational e¥sslen¢e loi the foreseeable lului6. Thus Ihe Twuslees
continu810 3dopl Ihe going concern basis ol accounting in preparing Iha Iinanctal 81alemenls.
1.3 Charftablè fiinds
Unreslrielèd funds afe available lor use al Ihe disC￿li0n of the Tfuslees In furtherance ol Iheir cl)arilable
objectives.
RtsliiGled funds are subject to specific condilions by oi grèntor5 85 lo how Ihey may bè usèd. The
purposes anij uses ol Ihe restricl6d funds are sei out in Ihe notes Io Ihe financial slalemths.
Endowment lunds arè subject lo specifi¢ condilion5 by donors that Iha eapllal musl be malnlalned by the
Cbarily.
1.4 Incomo
lftcome Is recognls*d when Ihe Charlty Is legally enlilled lo 11 after any performan￿ condilion3 have been
met. the 8rnounls can be mpasured ieli8bly. and il is probable thal inconie will be received.
Cash donat10113 afe recognised on reeeSpt. Othèr donations are reco9ni5ed once the Cliarily ha8 been nolified
ol the donation. unles5 perfomiance condilions require ijeferral ol Ihe amount. Income lax rècoverable in
relaliori to donalions received under GIftAid or deeds of covenant Is iecogllised al Ihts linie ol Ihe donalion.
Leg3cies are iecognised on receipl or olheJwise il Ihe Charily has been nolif1￿ ol an impending distribution.
Ihè amount Is known. and receipl is expected. If Ihe amount is not known, Ihe legacy is Irealed as a
colllingenl assel.

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
A¢¢ounling pollcles
(Continuedl
l.S Expeiiditure
Expendilur8 is reix)gnlsed oncè thère is a legal ￿ constructive obligalion lo Iransler economic bettefil 10 8
Ihiid party, il is probable Ihat a transfer of e¢oRomlc benefils will be iequir8d In saltlèmenl, and Ihe amount ol
Ihe obligaliDn can be me8surèd reliably.
Expenditure is rJassified by aclivily. eosls of each activity are made up of ihe lolal ol direct costs and
shared c05t5. lficluding supporl cosls involved in vndertaking ea¢li aclivity. Direct cosls altributable to a single
aclivaly are Sllocated directly to Ihat aclivily. Shared cosls which conlribule lo more Ihan on8 act>￿tY and
support C0515 which are not allrlbutable lo a single a¢livity are 8ppoMionèd bétweén Ihose activities on a basis
consislenl with Ihe use of TÈsoureés. Céntral staff costs are all¢)caled on the basis of lime spent, and
eprecialion chargas are allocated on Ihe porfion ol the assel's USÈ.
1.6 Tanglblo flxed assets
Tangiblè fixed assels are inilially measured al c4)sl and subsequently measured al cost 01 valuatlon. nel of
deprecialion and any impairment losses.
D8prerAalion is rècognised so as lo wrrfe off Ihe cosl or v8lvalion of 8ssel$18ss Iheii resldual v8lu8s over Iheir
useful h'ves on the following bases..
Compuleis
Slraighl line over 3 years
Thè gain or loss arising on Ihe disposal of an assel is delermin8d as the dillerence belween Ihp 5?le pro￿ed9
and the carrying valu8 of the asset. is ieeognised in Ihe stèlement ol financial aclivilies.
1.7 Impalrment of fixèd assèts
Al each repDrling end dal&, fhè Charily reviews Ihe carrying amoun1$ of ils langible ass915 lo delerrnine
whelher there is any indicalion that Ihose assets have suffere($ 8n Impairment loss. If any suoh indication
exisls, the recoverable arnounl of Ihe asset is eslimated In ordef lo determine the exlenl of the impairmgnl
loss lil any).
1.8 Cash and cash eqiiivalenls
Cash and cash equivalenls include cash in han¢J, d¢pgsils held at call wtth b3nks. olher short-lerm liquid
inveslmellls with QFTgin81 maturilles ol Ihree months or less. and bank ove¥drafts. B8nk overdr81ts are shown
wilhin borrowings in ctjrrenl liabilities.
1.9 Flnartclal In$tnJmÈnts
The Charily has elected to apply the provisions ol Sectio￿ 11 'Basic Financial Inslruments, and Secllon 12
'Olhei Financial l¢)slrvmenls l&sues' of FRS 102 to all of lis finanual instruments.
Financial insliumenls are recognised the Charit￿$ balance sheet when Ihe Charity be¢omes party to the
tonlraclual provisions of thè instrumenl.
Ftnancial assels and liabililres are offset, with Ihe nel amounts presented in the financial slalemenls. when
lhe￿ is a legally enforceable right lo sel olf the reco9nisÈd amounls and there Is an inlenlion lo sellle on a nel
basis or lo realise Ihe assel and seltle the liabilily simullaneously.
Baslc flnan¢ialassets
Basic financial assels. which includè deblors and cash and bank balances, are inil*ally measured al
liansaclion price including tiansaclioft costs and ore subseouenlly ¢arried at amortised cosl using thè effective
Inteiesl method unless the arraftgemenl constilules a financing transaclion, where Ihe transaction is
measured al Ihe presenl value ol Ihe fulure le￿ip¢S discovnled al a markel rate ol inleresl. Financial assels
classif￿d 8S fecelv8ble within one yeai are not amrtlsed.

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policlgs
Icontlnuèdl
8aslc fin8nclalllalJilitl95
Basi¢ financial li8bililTes, includlng credslors and bank to3ns ale Snilially iecogni5ed at transactitsrn priee vnless
Ihe 2rrangement conslilules a financing Iran5aclion. where Ihe debt in$liumenl is measu￿￿ al the presenl
value of Ihe future payments discounted al È wn8rket rale of interest. Ftnancial li8bililies classiled bs payable
withln onè year are not arnortised.
Debt Instr*Jmenls are subsequently carried at amorfised cosl, using Ihe effeclive interest Tale melhod.
Tradfr credilors are obligations to pay lor goods or serrices Ihal have been acquired in Ihe ordinary course of
opeialions from suppliers. Amounts pay8ble ale classified as current liabilities il payment is due wilhin on8
year oi lèss. If not, Ihey are presented as non-current liabilitiès. Tradè creditors are fecogrsised initially at
transaclion price and subsequently measured at amorlised cost using Ihe eNe¢live interest rnelhod.
Oere¢ognlllon of Ilnanclal Ilabllltles
Financial lTrabilities a￿ derecognised when Ihe Char51ys conlra¢lual obligatlons explre or are discharged or
cancelled.
1.10 Employee benefits
The wsl ol any unused holiday entitlement is ￿cognised In Ihe period in whlch the employee's Se￿ICe$ are
ceived.
Terminat￿n benefits are recognised immediately as an expense when the Charity is demonslralAy commilied
lo lenninale Ihe employment ol Sn employee 01 lo provide teimlnatton benefils.
1.11 Retirement benefits
Paymenls lo defined conlrFbvlion retirement benefil s¢heFne3 are charged 8$ an expense as they fall due.
Crltl¢al accounllng estlmates andJudgements
ID the appli¢aliorh ol lh& Chafbly's accounting policigs, Ihe Tfljstees are ￿qUired to fftake judgements,
estimate$ and assvmplions about Ihe Carrying an70unl of 8ssels and liabilities th81 are not readily apparÈnl
f¢om other soufces. The eslimales and asswaled assumptions are based on hlstorical eXperIen￿ and other
18Ctors thal are considered lo be relevant. Actual iesulls rn8y differ frotn Ihese eslimales.
The eslimalp5 and underlying assumpltrons are reviewed on an ongoiftg basis. Revisions ID accounting
estimates are re¢ogni5ed in the period in whith thg gslirnale is ievised whpie Ihe Temsion aff8cls only that
peEiod. 01 in the peiiod ol Ihe revtsion and lulure perio(Is iyhere Ihe rev&sion allects both currenl and l*Jtu
peiiods.
Incom• from charStable actlvltles
UnrÈ8tricted Rèstricted
funds
funds
2025
2026
Total Unrèstrictèd Réstricted
funds
funds
2024
2024
Total
2026
2024
Delivering Culluial Siipport
perfOman￿ related
grants
226,583
80.189
306,772
214.350
20.500
234,850
10-

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from other tradlng aGtlvltlè$
Unréstricted Unrestricted
funds
fund$
2025
2024
Olhef incoffle
S,57S
4,770
ExptrTrditure on charllable actlvllles
Dèllverlng
Cultural
Support
2025
Dellverlng
Cultural
Support
2024
Dlrect costs
Slaft cosls
Charitable CEP & Material
Slaff Tiairiing
Spe3ker Fee5
Artistic ￿819
Museum Communily Engagement Costs
Consultancy
C￿alIve Hub Evenls
Subscriplions
Legal & Pfolession81
129,028
9.495
90,133
34.341
105
1.199
16,611
22,060
45
21,997
5,330
1.095
4,107
4,886
207,821
133,572
Shar8 of support and yovemance costs (see nolo 61
Support
Govemance
17,869
7.315
16.665
5,160
233,OD5
155.397
Analysls by fund
Unre51ricted funds
Reslricied lynds
188,066
44.939
151,290
4.107
233,005
155.397

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs 8lloeatèd to activiti83
202S
2024
Depreciation
Insurance
Travelling
Bank Charges
Computei Expenses
Wèbsite Expenses
orricg Ren181
Advetiising
Governanoe cost
2,002
687
626
2.186
3,008
1.799
1.584
2.160
5,870
8,119
134
180
11,538
5.565
25,184
21,825
Analys•d betsveen:
Delivering Cultuial Supporl
25,184
21.825
Net movement in fund$
202$
2024
The nel movemenl in funds is slated aftei charging/{credilirTg}-
Fees payable lor the independent examination ol Ihe charilvs financial
statements
Deprecialion of owned langibl8 r￿ed assets
1,900
2,002
1,440
687
Trust88S
Ilone of the Trustees lor any persons connected iyilh them) received any remuneration or benefils from Ihe
Chari¢y during Ihe year.
Employees
The average monlhly number of employees during the year was=
202$
Number
2024
Number
Employment ¢osts
2025
2024
Wages and salaries
Social security cosls
Olhei pension cosls
119.485
6.676
2,867
85.138
3.079
1,916
129,028
9).133
12-

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Employees
{Contlnu6dl
Thwe were no ernployees whose annual remuneralion was more Ihan £60,000.
10 Taxation
The charity is exempt (rom taxation on its activilies becausè all ils incomè is appli8d for eharil8bl8 purposes.
11 Tanglble fixed assets
CoMputéEs
Cost
Additions
6,546
Ai 31 March 2025
6,546
Depreclatlon and Iinpalrment
Al 1 April 2024
Depreciation charged In the yèar
687
2.002
At 31 March 2025
2,689
Carrying amr&unt
Al 31 Marth 2025
3,857
Al 31 March 2024
2,611
12 Dèbtors
2025
2024
Amount$ lalllng du* wlthin onè y*ar',
p￿paYMen18 and accfued in¢ome
765
13 Creditors: amounts falling due within one year
2025
2024
Trade creditors
Other ciedilors
Accruals and def6rred income
4,222
3,655
7.900
4,300
3.180
9,777
7,480
13-

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED>
FOR THE YEAR ENDED 31 MARCH 2025
14 Retirement benefit schemes
2025
2024
Dèfined contrlbutlon s¢hèmo5
Charge lo wofft or loss in fespect ol definéd Contribution schemes
2,867
1.916
The ChErily operatès a dèfinéd contribution penstot7 scheme lor all qualifyrng employees. The assets of the
Scheme are held separalely liom those of the Ch3ri1y in an Independently administered fund.
15 Restrlcted funds
The reslricled funds of Ihe charity comprise Ihe unexpended bal8nces of donations and granls held on Irusl
subject to sw4fic condition3 by donors as to how thèy may be used.
At 1 April
2024
Incoming
resourcès
Re80urce8 At 31 March
èxpènd8d
2025
Arts Project
Connecliny Libraries
Intemalional Exchan9È
Crèativé Nèlwork
Museum Community Erga9emenl
5,000
40,500
15,71K>
9,000
2,489
12,500
116,3901
14,000)
29.110
11,700
12,4891
122.0601
11.393
1.833
16,393
80.189
144,9391
51,643
Prevlous year:
At l April
2023
Incomlng
resources
Re$our¢e$ At 31 March
oxpfrndèd
2024
Arts Mark Projecl
Museum Community Engagement
5.01)0
15,500
5.000
11,393
{4.1071
20.500
14.1071
18.393
14

THE ISLAND COLLECTION
CREATIVE ISLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
16 Unrestricfgd funds
The unreslilclèd funds ol thè charily comprise the unexpended balancès of donations and grants which are
nol subjecl lo specific conditions by dollors and grantors as lo how they may bè used. These include
desSgnaled funds which h3v8 been sel aside out ol unreslricled lunds by Ihe Iruslees for Spe¢lf￿ purposes.
At l April
2024
Incoming Rasovr¢o8 At 31 March
resoureÈs
expended
2025
Island of Cvllurè
General funds
50,000
24,197
50,000
68.289
232,158
1188.0661
74.197
232.158
1188,0661
118,289
Previous year:
At l Aprll
2023
Incomlng
rèsources
Re$our¢es At 31 March
expended
2024
Gen6Tal Ivnds
6,367
219.120
1151.2901
74,197
17 Analysls of not assets betweèn funds
Unrestricted
funds
ZO25
Restricted
fuFTrds
2025
Total
2025
At 31 March 2025..
Tangible as581s
Current a5setsl(liabilitiesl
3,857
114,432
3.857
166.075
51,643
118,289
5t,643
169.932
Vnreslrlcted
lunds
2024
Restricted
funds
2024
Total
2024
At 31 Mareh 2024:
T8ngible assels
Curfènt asselsllliabililiesl
2,611
71.586
2,611
87,979
16,393
74,197
16,393
90,590
18 Related party transacuons
There were no disdosable related parfy transaclions during the year12024- none).
15-