DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**Registered number: 12566700 Charity number: 1189257**
# **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT**
# **(A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2022**
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 14|
|**Independent Examiner's Report**|15 - 16|
|**Statement of Financial Activities**|17|
|**Balance Sheet**|18 - 19|
|**Statement of Cash Flows**|20|
|**Notes to the Financial Statements**|21 - 36|
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Trustees**|Yvonne Veronica Thompson CBE, Chair|
|---|---|
||Tessa Patricia James (resigned 31 March 2022)|
||Philomena Gibbons|
||Nicholas Michael Button-Brown|
||Jonathan Patrick Frederick Bradley|
||Kerstin Eva-Maria Von der Brelie|
||Laura Clare|
||Fawzia Nazli Rasheed (appointed 24 May 2022)|
||Simon Bernard Ruddick (appointed 20 July 2022)|
|**Company registered**
**number**
12566700
**Charity registered**
**number**
1189257
**Registered office**
215 Euston Road
London
NW1 2BF
**Accountants**
Peters Elworthy & Moore
Chartered Accountants
Salisbury House
Station Road
Cambridge
CB1 2LA
**Bankers**
Barclays Bank UK Plc
127 Edgware Road
London
W2 2HT||
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022**
The trustees of OKRE are pleased to present their second report together with the financial statements of the Charity for the period 1 October 2021 to 30 September 2022. The financial statements are prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes and comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles, and the Statement of Recommended Practice – Accounting and Reporting by Charities (FRS 102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **OBJECTIVES AND ACTIVITIES**
## **a. Policies and objectives**
OKRE: Opening Knowledge Across Research and Entertainment was established in April 2020 as a company, limited by guarantee, incorporated in the UK (registration number: 12566700) and a registered charity (charity number: 1189257) in England and Wales.
OKRE’s charitable objects, as set out in its governing documents, are:
1. To advance the education of the public in social, scientific and health-related issues by making arrangements for the exchange of knowledge between charities, academics, those with lived experience of such issues and individuals working in the creative industries such that public understanding of these issues is improved.
2. To advance the arts as regards social, scientific and health-related issues by making arrangements for the exchange of knowledge between charities, academics, those with lived experience of such issues and individuals working in the creative industries such that the quality of creative output which tackles such issues is improved.
3. To promote research and make available the useful results, and in particular:
- to promote research into the role of the creative industries in shaping attitudes to social, scientific and health-related issues and effective communication regarding such issues;
- to make arrangements for the exchange of knowledge regarding, and access to, tools, technologies and skills which advance research.
4. To promote the efficiency and effectiveness of charities by enabling them to improve their communication regarding social, scientific and health-related issues through engagement with individuals working in the creative industries.
## **Mission**
OKRE is a charity that advances cross-sector collaboration to expand everyone’s understanding of the world across social, scientific and health related issues.
We do this by supporting people and organisations to create compelling, high-impact content and bring about innovations in research.
## **Vision**
We bring together academic research, direct lived experience and the entertainment media industries, enabling each to benefit from the other’s knowledge and ultimately helping audiences to better engage with the ideas that shape society.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **OBJECTIVES AND ACTIVITIES (CONTINUED)**
## **b. Strategies for achieving objectives**
OKRE’s activities are informed by and assessed against a Theory of Change, which identifies short, medium and long-term outcomes that support the achievement of OKRE’s overall mission (see Table 1). These outcomes fall into three key pathways: cross-sector network building, driving awareness and understanding of the value of cross-sector collaboration, and stimulating innovations. All activities are designed to support the achievement of these pathways.
**Table 1 – OKRE’s Theory of Change**
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **OBJECTIVES AND ACTIVITIES (CONTINUED)**
## **c. Activities undertaken to achieve objectives**
To achieve these outcomes, the Charity runs events and workshops, administers the OKRE Network and matchmaking, provides grants via the OKRE Fund, and carries out and publishes research.
The Charity’s significant activities include:
- OKRE Network - An international community managed by OKRE connecting researchers, charities and those working in entertainment media to advance cross-sector exchange of knowledge for the benefit of research and content engaging with social and scientific themes.
- OKRE Fund - The OKRE Fund supports projects that take a fresh approach to exploring social, scientific and health-related issues that impact our everyday lives and the ideas that shape society.
- OKRE Development Rooms – A series of events open to creators working across games, film, audio, social media and television, each OKRE Development Room explores a major social or scientific theme from unexpected angles. The events provide an opportunity for collaboration between experts by experience, researchers from around the world, and international leaders from content development to inspire new projects.
- OKRE Summit – A unique conference that brings together leaders in the entertainment media and charity sectors to advance cross-sector collaboration and understanding of content that makes a real difference in the world. The event provides networking opportunities and practical knowledge exchange through panels and presentations. Content is subsequently disseminated more widely online.
- OKRE Entertainment Industries Taskforce for Social Impact – A convening of global entertainment media companies working to help better understand and build on the real-world impact that follows as a result of people engaging with entertainment media content. Its membership includes leaders across TV, film, audio, games and social media.?
## **d. Public benefit**
The trustees’ report presents the main activities and achievements of the period, and shows that they have had due regard to the Charity Commission guidance on public benefit when planning current and future activities.
## **e. Social investment**
OKRE did not make any social investments as defined by the SORP in the period ended 30 September 2022.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **OBJECTIVES AND ACTIVITIES (CONTINUED)**
## **f. Grant-making policy**
The OKRE Fund is intended to catalyse development of new approaches in how media content can engage with social, scientific and health-related issues. Cross-sector collaboration between media professionals, academic researchers and experts through experience is a core criteria. Grants are available of between £500 and £25,000 to organisations and individuals.
Applications are reviewed by a Funding Committee chaired by the OKRE Director; the committee is made up of OKRE staff and includes at least one external member with sector expertise. Committee funding recommendations are made to trustees who have final sign off on grant-making decisions and for ensuring that all funds awarded are used to further OKRE’s charitable objects. OKRE’s grant-making policy sets out the principles and procedures that guide funding priorities, applications, decision-making, due diligence and reporting.
Full details of the grant-making policy are available online at https://okre.org/okre-grant-making-policy/.
## **g. Volunteers**
OKRE does not use volunteers to produce any of its activity.
## **h. Evaluation**
Each project and activity is evaluated against specific objectives and goals, in the context of OKRE’s Theory of Change. We capture quantitative and qualitative data including sign ups and attendance figures, participant feedback, new connections and outputs from collaborations facilitated through our work.
To enable us to more systematically evaluate our work and embed continuous learning, a Monitoring, Evaluation, Research and Learning (MERL) framework has been developed.
## **ACHIEVEMENTS AND PERFORMANCE**
## **a. Key performance indicators**
OKRE became operationally independent in January 2021, in the midst of the global pandemic and with the country in lockdown. As previously reported, this necessitated a pivot to deliver activities online. The period covered by this report saw the transition back out of lockdown restrictions and the need to shift our approach again to meet the changing behaviours and interests of those we sought to engage.
By autumn 2021, there was notable decline in terms of attendance at online events. However, many of our audiences remained wary of in-person gatherings. We sought to tackle this challenge by experimenting with new online platforms. At the same time, building on learnings from the breadth of our work to date, we applied our resources to a more focused and distinctive events programme. We wanted to retain the benefits that the digital transition had brought (including wider accessibility) and embrace wider lessons to inform a multi-year strategy.
## **Key achievements include:**
## **OKRE Network**
The overall aim of the Network is to enable connections to be made across research, expertise by lived experience and entertainment media to support the creation of content that expands people’s understanding of
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)**
the world.
To most effectively achieve our mission, we seek to ensure the charity appears relevant to people in the research, entertainment media and social impact sectors. As an opt-in community, the OKRE Network reflects this and its makeup has been a measure of its success. In our second year, sign ups to the Network doubled, with representatives from 824 organisations across 51 territories. We targeted growth of academic members, with this group now making up approximately 41% of the total (up from ~32% the previous year). Between Oct 2021 and Sept 2022 we had over 375 enquiries for our support.
A key function of the Network is to deliver a matchmaking service connecting diverse communities and expertise around entertainment media production. The number of projects we were able to successfully match increased by 150% to 125 projects. These linked television, film and games companies with academics working in areas including climate health, refugee mental health, vaccine development and infectious diseases and experiences of women, pregnancy and poverty.
Entertainment media projects in development that OKRE has connected with academics and expertise from lived experience, include a drama series about migrant experiences in the 1980s with a local community archive group; a comedy sitcom series with a mental health charity; a science fiction action adventure film working with a genomics researcher; and a drama series with a researcher who has lived experience exploring the effects of climate change on disabled communities.
We continue to work to ensure the Network remains a trusted source of expertise whilst continuing to expand in diversity and perspectives that are represented.
To support ongoing growth and collaborative development of the Network, we launched a regular newsletter to opt-in subscribers from our Network in Oct 2021 and also available via LinkedIn.
The newsletter provides inspiration by way of interviews with researchers and entertainment, best practise examples of impactful projects that originated with research or lived experience collaboration with those working in entertainment media. It is also a place to shout about upcoming opportunities from OKRE, likeminded charities and other stakeholders.
The newsletter has enjoyed high engagement with an open rate consistently above 50% and a Click Through Rate above 10%. It has grown from under 400 subscribers in Oct 2021 to over 770 subscribers in September 2022.
## **Knowledge Exchange**
OKRE’s online content hub shares resources that support our charitable mission, with written, video and audio content. We relaunched the website to improve its functionality, including improving search capability and enabling content recommendations that could provide our audiences with a richer, more insightful experience. It is now better able to act as a legacy platform for our events as well, with watch-again boxed set capability, and enables curation of content around topics such as mental health and climate change.
Feedback from our communities led to publication of more real-world case studies showcasing the experiences and learnings from cross-sector collaboration from the point of view of those directly involved. It also informed the programming of the OKRE Summit (see below).
We have published 41 new pieces of content, including 22 insights pieces such as articles and videos on topics including tips for charities and social impact organisations seeking to work with entertainment media, and 5 case studies of funded projects. We also ran a series exploring the impact those working in entertainment media would like their content to have in 2022.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)**
There were 4,100 views on the hub, over double that achieved in the previous year. The most viewed single piece of content was our research report on how videogame culture could be harnessed to engage communities with climate action, followed by an article on the role of important role entertainment media plays in shaping perceptions.
## **Research**
i) OKRE Podcast: We had previously published articles on representation and consulted with stakeholders across the sectors to scope a novel approach to carrying out research into on-screen representation that could provide fresh insights and make the findings more accessible to industry. Together with the learnings from the content hub regarding the appeal of audio content versus video, this led to the development of a new podcast series exploring lived experience of representation.
We consulted with charities working with a range of marginalised and misrepresented communities, including those with experiences of mental health, migration and poverty. This informed our intersectional approach and duty of care framework. We then connected with other charities whom we could support through the aims of the podcast, such as Gate Herts, a representative organisation for Gypsy and Traveller people across Hertfordshire.
An initial cohort of contributors was identified early in 2022. However, with many people still understandably cautious following the Omicron wave, the logistics of production proved too challenging. The project was therefore paused with the plan to resume production later in 2022/2023.
ii) OKRE Entertainment Industries Taskforce for Social Impact: In April 2022 we announced the launch of this Taskforce, with organisations from across film, television, games and social media including the BBC, Dazed Media, Disney, ITV, Meta, Nowness, Paramount, Prime Video, Sky, Snap Inc and Spotify. The Taskforce seeks to provide an opportunity to understand and build on the real-world impact that follows as a result of people engaging with entertainment content. The objectives of the first piece of research is being scoped and a lead to oversee it is being recruited. It is expected to look at the current landscape of impact of measurement and be undertaken in 2023.
## **Events**
Building on the learnings from our initial programme of activities, we sought to develop a more strategic and focused multi-year programme that could achieve greater impact:
i) OKRE Development Rooms. This was a series of online events first launched in 2020 and run in partnership with the British Film Institute (BFI), the British Broadcasting Corporation (BBC) and The Association for UK Interactive Entertainment (Ukie). Designed for those working in film, TV, interative and podcasting, they explored major social and scientific themes from unexpected angles with speakers from across the UK and around the world.
Based on popularity of the events and the feedback received, we planned to develop them into a more regular series. However, it became clear towards the end of 2021 that there was a wider challenge of attendance at online events. Two Development Rooms run in Oct 2021 and Jan 2021 explored themes of migration and preservation. Feedback from attendees remained very positive, but attendance became increasingly unpredictable and no longer reflective of sign ups. There was also minimal legacy value from the events with those who were unable to attend not able to access the content subsequently.
For these reasons we paused this online series in its current form, looking to achieve its goals in other ways and repurpose the format, which had been so positively received, for future collaborative workshops.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)**
ii) OKRE Summit: Following review of our own activities and those run by other organisations in the sectors we worked, we commissioned a scoping project to explore the potential for a major conference bringing together the entertainment industries and charity sector (building on the Campaigns & Behaviour Change Convenings we had previously run and filling an identified gap in what was needed to scale collaboration for greater impact longer term regarding understanding of social, scientific and health-related issues).
This work identified a real appetite for such a convening and so the OKRE Summit was developed to bring together the two sectors, exchange knowledge, share ways in which they were currently collaborating, and explore opportunities for the future. It was decided to pilot the conference as our first in-person event, with the framework of a multi-year strategy that would be reviewed after delivery.
The OKRE Summit took place over one day in June 2022, with Meta as our venue partner. Hosted by journalist and presenter, Mishal Husain, it brought together leaders from across the charity sector with those from television, film, games and social media. For this pilot year, we aimed for an audience of ~100. We had 168 attendees: 89 from the entertainment media industries; 35 from Charity sector. It featured 15 sessions and 41 speakers. Organisations including Studio Interactive, CALM, Comic Relief, Meta, Fundacion Televisa, Lime, Beat and BBC discussed collaborative projects, the benefits and lessons learned.
Complimentary and discounted tickets were offered to increase access, including as part of a People and Partners Development Programme. This sought to nurture a culture of knowledge exchange at the start of people’s careers. Recognising that many development programmes already existed in the charity sector, rather than launching another stand-alone initiative, we used the opportunity to add value to those programmes, with participants including Mama Youth Project, Esmée Fairbairn’s Involving Young People Collective, and New Writing North.
As part of the Summit, we also announced a project called The Big List, in partnership with the Aid Alliance. The Big List will aim to set out urgent challenges according to charities. It was developed in response to feedback from programme makers saying they would appreciate an insight into the hot topics and trends that charities are focusing on. The initial focus will be on the work of international development charities with outputs expected in 2023.
Feedback for the OKRE Summit was extremely positive from attendees and panellists, many highlighting the unique nature of the event. Attendees particularly valued the opportunity to broaden their perspective and make connections which they were able to utilize in their work.
Post the Summit, we wanted to ensure that the sessions would be widely available across our audiences. Recordings were made available on the OKRE content hub, along with articles and case studies, such as Sports Interactive’s collaboration with War Child, and shared to our network through the newsletter and other digital communications channels.
## **OKRE Fund**
Having launched the OKRE Fund in June 2021, this was its first full year of operation. The scheme supports the early development of innovative projects in research and entertainment involving cross-sector collaboration. Currently the Fund supports projects that explore the following areas: experiences of poverty; health (including mental health, infectious disease, and climate health); and international development work and the communities they seek to support.
The running of the grant scheme and decision-making process follows OKRE Fund Committee Grant Terms of Reference and OKRE Grant Making Policy, both approved by the OKRE trustees. The Criteria for the OKRE Fund are outlined on the OKRE website together with the application form.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **ACHIEVEMENTS AND PERFORMANCE (CONTINUED)**
In the period 1 October 2021 to 30 September 2022, 60 applications were received, and 5 funding committees held. Based on the eligibility and funding criteria, 7 grants were awarded. Decisions on seven applications were deferred pending clarification on the information supplied in the applications.
Of the funded projects, two were for documentary films, three for dramatic scripted features, one for a scripted comedy feature film and one animated children’s series.
## **b. Fundraising activities**
Grant funding was secured from Comic Relief (for the OKRE Summit and OKRE Taskforce) and from Aid Alliance (for development and delivery of the Big List).
Tickets were sold for the OKRE Summit, with tiered pricing alongside discounted/complimentary tickets to improve access.
Development of OKRE’s new fundraising strategy began with discussion of key parameters at the Trustee Board meeting in July 2022. Following this, the draft strategy, based on that discussion, was approved by the December Board and will be implemented in 2023.
No material financial investments are held other than cash.
No material expenditure was incurred to raise income in the period to 30 September 2022.
## **c. Appointments and recruitment**
Two new appointments were made to the Board of Trustees. These were Fawzia Rasheed, Health Sector & Climate Research Analyst and Simon Ruddick, Chairman of Albourne Partners.
No additional senior staff roles were appointed in the period to 30 September 2022. Until longer-term funding has been secured, many projects are being developed and delivered through contractors.
As an organisation working in sectors addressing long-standing challenges around diversity and inclusion, we committed time and resource to employing inclusive practices across our recruitment processes. These include options for remote working allowing us to be more geographically inclusive, and working with organisations dedicated to increasing diversity in their sector during the recruitment process.
## **FINANCIAL REVIEW**
## **a. Overview**
Income for the period was £608,331 (2021: £646,471), of which £547,385 (2021: £551,443) was given for restricted purposes.
Restricted funding from the Wellcome Trust has been provided through a five year grant award to support the setup, operation and activities of OKRE as set out in the plan. Income is recognised as the available funding is spent. During the period, the funding supported expenditure on the initial activities as described above.
In addition, a restricted grant was received from Comic Relief to help fund the Summit and the running of the Entertainment Industries Taskforce on Social Impact. Restricted funding was also received from Joseph Rowntree Foundation to fund research into contracting.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
Total expenditure for the period was £603,316 (2021: £367,038).
The unrestricted surplus for the period was £17,380 (2021: £87,828) and the total surplus for the period was £5,015 (2021: £279,433).
The cash balance at 30 September 2022 was £228,821.
Total funds amounted to £284,448 (2021: £279,433), of which £145,408 (2021: £87,828) was unrestricted and £139,040 (2022: £191,605) was restricted.
## **b. Going concern**
OKRE has reviewed its spending plans, currently available finances over the next five years and income expectations based on fundraising plans and funding to date. Permanent staff and core operating costs are limited to existing available budget and will not increase until such time that greater funding has been secured and sufficient reserve built up. Spending plans for the next 12 months have been reviewed by the trustees. On this basis, the trustees believe that the going concern assumption continues to be appropriate.
## **c. Reserves policy and review**
OKRE has a five-year funding commitment from Wellcome Trust to support OKRE’s operation. However, unrestricted funding is a priority for OKRE and a fundraising focus for the next financial period.
Before the end of the five year funding commitment, OKRE aims to raise sufficient reserves as contingency to ensure the charity can remain operational for a minimum of 6 months and budget to successfully wind down the charity should it cease to be a going concern. A target of £250,000 has been agreed. Reserves at 30 September 2022 were £106,883, which is below the target. OKRE will seek additional unrestricted funds to make up the shortfall.
## **d. Funding and fundraising**
The majority of OKRE’s funding is currently through grants from a small, though growing, number of funders. Appointments have been made to the Board of Trustees to build OKRE’s fundraising expertise. To provide greater financial security, a new fundraising strategy is in development to diversify OKRE's sources of income.
Grant funding will continue to support the piloting of activities. Successful projects will aim to attract funding support from non-grant sources to sustain and grow them.
For new grant funding, unrestricted grants will be prioritised.
Non-grant sources of core funding are being targeted. A fundraising policy to guide this work will be developed with the Board of Trustees.
No complaints have been received about OKRE fundraising activity. OKRE does not currently seek donations from members of the public; this will be reviewed as part of the new fundraising strategy.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **e. Principal risks**
Significant risks facing the organisation are reviewed annually by the trustees and measures agreed to mitigate them. Key risks include:
Relying on funding solely from a small number of grant funders. This is a considerable risk to the charity’s sustainability, especially as priorities for grant funders change regularly. OKRE is addressing this by working to diversify sources of funding beyond traditional grant funders and developing a strategy for alternative and sustainable funding options.
The charity has been highly reliant on one person – the Director – and view the need to develop a senior team as a priority for the security of the organisation. The appointment of a Head of Communications has mitigated this risk in the short term but additional funding to support longer-term roles is a priority in 2023.
Significant staff changes in our small team and reliance on freelance staff has also been a notable risk to OKRE’s ability to deliver its programme of work. With a small team, staff departures, freelance contracts ending and absences due to illness can risk stretching the capacity of the organisation and ability to achieve its goals. A matrix team structure, rigorous onboarding of freelancers and prioritising activities have helped mitigate against this.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **a. Governing document**
OKRE: Opening Knowledge Across Research and Entertainment is registered as a charitable company in England and Wales limited by guarantee and was set up by a Trust deed.
## **b. Trustees**
The trustees of the Company during the period and at the date of signing are listed in the Reference and Administrative Details section below.
The Chair and new trustees are appointed by existing Board members. A longlist of candidates are identified through advertising, talent research and nomination by existing trustees, with consideration of skills needed on the Board. Shortlisted candidates are interviewed and existing Board members make final decision.
Trustees serve for a period of three years, except for the first trustees who hold office for eighteen months. Retiring trustees are identified to the Board annually. Any retiring Trustee who remains qualified may be reappointed provided that no Trustee may serve for more than three consecutive terms of office.
New trustees receive an orientation pack including governing documents, minutes from previous trustee board meetings, business plan and strategy documents, and charity commission guidance for trustees. We also arrange opportunity for trustees to meet each other and the OKRE staff team. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
The trustees manage the business of the charity, including exercising oversight of the charity’s financial affairs, strategic decisions, major funding initiatives and planned activities.
The trustees appoint a Director to manage day-to-day running of the charity. The Director has delegated authority for matters including programme development and delivery, staffing and recruitment, and finances. The terms and extent of this delegated authority is determined by the trustees.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)**
## **c. Organisation**
For the year ended September 2022, OKRE employed three permanent staff, all full time, and two staff members on fixed term contracts, one full time and one part time. Additionally, we work with freelancers to provide support on a project basis.
## **d. Pay and renumeration**
All trustees give their time on a voluntary basis and receive no renumeration for their role.
The pay of staff is benchmarked against pay levels in other charities with similar required skillsets and responsibilities. This includes the key management personnel, who are the senior management team, this includes the Director and a Head of Communications.
## **e. Related party transactions**
OKRE trustee Philomena Gibbons is an employee of the Wellcome Trust, which is the principal funder of the charity. Her position on the Board of Trustees follows clause 8.5 in OKRE’s Articles of Association and involvement in decision-making follows OKRE’s conflict of interest policy.
There have been no other related party transactions up to the period ending 30 September 2022.
## **f. Directors and Trustees**
The directors of the charitable company (the charity) are its trustees for the purposes of charity law. The trustees, officers and staff serving during the period and since the period end were as follows:
Dr Yvonne Thompson CBE (Chair) Tessa Patricia James (Treasurer) – resigned 31 March 2022 Philomena Gibbons Nicholas Michael Button-Brown Jonathan Patrick Frederick Bradley Kerstin Eva-Maria von der Brelie Laura Clare Fawzia Rasheed,– appointed 24 May 2022 Simon Ruddick, Chairman of Albourne Partners – appointed 20 July 2022
## **g. Senior Management Team**
Managing Director & Chief Executive Officer Iain Dodgeon Head of Communications Kat Harrison-Dibbits
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **FUTURE PLANS**
OKRE’s future plans are aligned with achieving the outcomes described in the theory of change. A business plan, five year activity plan and strategy to achieve these were developed and approved by the board of trustees and will undergo review in the next financial year.
We will undertake a campaign to grow and diversify applications to the OKRE Fund.
We will continue to grow the OKRE Network and will create resources and share best practices to advance knowledge exchange, engaging our community and beyond via the website, newsletter and social media channels.
We want to advance how we work with experts by lived experience. Working with charities and entertainment media, we plan to develop a programme of work to build understanding of how to best collaborate. A lived experience lead will be appointed to further this agenda.
OKRE’s 2023 activities programme will have a focus on:
- Advancing our research work, namely through the OKRE Entertainment Industries Taskforce for Social Impact and the OKRE Podcast exploring on-screen representation.
- Development of the next OKRE Summit
- Re-launch workshops, integrating the lessons from working online during lockdown.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
Approved by order of the members of the board of Trustees and signed on their behalf by:
**Yvonne Veronica Thompson Chair**
30 June 2023 Date:
Page 14
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2022.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **INDEPENDENT EXAMINER'S STATEMENT**
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: 30 June 2023
Nikki Loan
FCA
**PETERS ELWORTHY & MOORE** Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Note**
**INCOME FROM:**
Donations
4
Charitable activities
5
Investments
6
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable activities
7
**TOTAL EXPENDITURE**
**NET INCOME/(EXPENDITURE)**
Transfers between funds
16
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
Net movement in funds
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**funds**
**30 September**
**2022**
**£**
**56,200**
**4,746**
**-**
**60,946**
**43,566**
**43,566**
**17,380**
**40,200**
**57,580**
**87,828**
**57,580**
**145,408**|**Restricted**
**funds**
**30 September**
**2022**
**£**
**547,266**
**-**
**119**
**547,385**
**559,750**
**559,750**
**(12,365)**
**(40,200)**
**(52,565)**
**191,605**
**(52,565)**
**139,040**|**Total**
**funds**
**30 September**
**2022**
**£**
**603,466**
**4,746**
**119**
**608,331**
**603,316**
**603,316**
**5,015**
**-**
**5,015**
**279,433**
**5,015**
**284,448**|Total
funds
9 months
ended
30 September
2021
£
636,445
10,000
26|
|---|---|---|---|---|
|||||646,471|
|||||367,038|
|||||367,038|
|||||279,433
-|
|||||279,433|
|||||-
279,433|
|||||279,433|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 21 to 36 form part of these financial statements.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee) REGISTERED NUMBER: 12566700**
## **BALANCE SHEET AS AT 30 SEPTEMBER 2022**
|**Note**
**FIXED ASSETS**
Intangible assets
13
**CURRENT ASSETS**
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Restricted funds
16
Unrestricted funds
16
**TOTAL FUNDS**|**70,063**
**228,821**
**298,884**
**(52,961)**|**2022**
**£**
**38,525**
**38,525**
**245,923**
**284,448**
**139,040**
**145,408**
**284,448**|73,220
556,107
629,327
(349,894)|2021
£
-|
|---|---|---|---|---|
|||||-
279,433|
||||||
|||||279,433|
|||||191,605
87,828|
||||||
|||||279,433|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
# **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee) REGISTERED NUMBER: 12566700**
# **BALANCE SHEET (CONTINUED) AS AT 30 SEPTEMBER 2022**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**Yvonne Veronica Thompson Chair**
30 June 2023 Date:
The notes on pages 21 to 36 form part of these financial statements.
Page 19
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
|**Note**
**CASH FLOWS FROM OPERATING ACTIVITIES**
Net cash used in operating activities
18
**CASH FLOWS FROM INVESTING ACTIVITIES**
Interest
Purchase of intangible assets
**NET CASH (USED IN)/PROVIDED BY INVESTING ACTIVITIES**
**CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR**
Cash and cash equivalents at the beginning of the year
**CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR**
19|**30**
**September**
**2022**
**£**
**(287,205)**
**119**
**(40,200)**
**(40,081)**
**(327,286)**
**556,107**
**228,821**|9 months
ended
30
September
2021
£
556,081|
|---|---|---|
|||26
-|
|||**26**|
|||**556,107**
-|
||||
|||556,107|
The notes on pages 21 to 36 form part of these financial statements
Page 20
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **1. GENERAL INFORMATION**
OKRE: Opening Knowledge Across Research and Entertainment is a private company limited by guarantee and incorporated in England and Wales. Its registered office is disclosed on page 1.
## **2. ACCOUNTING POLICIES**
## **2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
OKRE: Opening Knowledge Across Research and Entertainment meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
Its functional and presentational currency is GBP.
## **2.2 GOING CONCERN**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
No material uncertainties exist.
## **2.3 INCOME**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
The funding received from the Wellcome Trust is in the form of a multi-period grant which is paid in advance based on the approval of budgets and forecasts. The income is recognised when the conditions for grant recognition have been satisfied. Entitlement is when the expenditure has been committed.
Other grants fall largely into three categories: those which are performance related and specify a level of service, those with specific conditions attached to each payment and those with no conditions attaching. Income for performance-related grants is recognised when the expenditure is incurred as this reflects the service levels and the conditions met. Income for non-performance-related grants is recognised when awarded as this represents entitlement.
Page 21
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.4 EXPENDITURE**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Initial expenditure contributed to all activities and was not considered efficient to sub divide, therefore all costs in the prior year were attributed to the one combined activity stream.
Governance costs are those incurred directly on the governance arrangements of the Charity, for example, the cost of the independent examination.
In the current year, grant, direct and support costs have been apportioned over the four activity streams. Support costs, including governance costs, have been apportioned to activities based on the direct costs of those activities.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.5 INTANGIBLE ASSETS AND AMORTISATION**
Intangible assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.
Amortisation is provided on the following basis:
Computer software - 25 %
## **2.6 DEBTORS**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.7 CASH AT BANK AND IN HAND**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 22
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
**OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **2. ACCOUNTING POLICIES (CONTINUED)**
## **2.8 LIABILITIES AND PROVISIONS**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **2.9 FINANCIAL INSTRUMENTS**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 PENSIONS**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **2.11 FUND ACCOUNTING**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGMENT**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
There are currently no critical estimates or judgements requiring disclosure in addition to the accounting policies described.
Page 23
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **4. INCOME FROM DONATIONS**
|**Unrestricted**
**funds**
**30**
**September**
**2022**
**£**
Donations
56,200
Grants
-
56,200
TOTAL 2021
85,002|**Restricted**
**funds**
**30**
**September**
**2022**
**£**
100
547,166
547,266
551,443|**Total**
**funds**
**30**
**September**
**2022**
**£**
**56,300**
**547,166**
**603,466**
636,445|Total
funds
9 months
ended
30
September
2021
£
25,000
611,445|
|---|---|---|---|
||||636,445|
|||||
## **5. INCOME FROM CHARITABLE ACTIVITIES**
|**Unrestricted**
**funds**
**30**
**September**
**2022**
**£**
Consultancy fees
-
OKRE Summit ticket sales
4,746
4,746
TOTAL 2021
10,000|**Total**
**funds**
**30**
**September**
**2022**
**£**
**-**
**4,746**
**4,746**
10,000|Total
funds
9 months
ended
30
September
2021
£
10,000
-|
|---|---|---|
|||10,000|
||||
Page 24
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **6. INVESTMENT INCOME**
|**Unrestricted**
**funds**
**30**
**September**
**2022**
**£**
Bank interest
-
TOTAL 2021
26|**Restricted**
**funds**
**30**
**September**
**2022**
**£**
119
-|**Total**
**funds**
**30**
**September**
**2022**
**£**
**119**
26|Total
funds
9 months
ended
30
September
2021
£
26|
|---|---|---|---|
|||||
## **7. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
## **Summary by fund type**
|**Unrestricted**
**funds**
**30**
**September**
**2022**
**£**
Research
1,675
Networking
-
Events
41,891
Funding
-
43,566
TOTAL 2021
7,200|**Restricted**
**funds**
**30**
**September**
**2022**
**£**
65,014
116,924
208,007
169,805
559,750
359,838|**Total**
**30**
**September**
**2022**
**£**
**66,689**
**116,924**
**249,898**
**169,805**
**603,316**
367,038|Total
9 months
ended
30
September
2021
£
91,759
91,759
91,759
91,761|
|---|---|---|---|
||||367,038|
|||||
Page 25
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Research
Networking
Events
Funding
TOTAL 2021|**Activities**
**undertaken**
**directly**
**30**
**September**
**2022**
**£**
52,438
91,939
196,500
41,648
382,525
253,797|**Grant**
**funding of**
**activities**
**30**
**September**
**2022**
**£**
-
-
-
116,840
116,840
-|**Support**
**costs**
**30**
**September**
**2022**
**£**
14,251
24,985
53,398
11,317
103,951
113,241|**Total**
**funds**
**30**
**September**
**2022**
**£**
**66,689**
**116,924**
**249,898**
**169,805**
**603,316**
367,038|Total
funds
9 months
ended
30
September
2021
£
91,759
91,759
91,759
91,761|
|---|---|---|---|---|---|
||||||367,038|
|||||||
Page 26
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF DIRECT COSTS**
|Staff costs
Professional fees
Communications
and marketing
Equipment and
supplies
Project and event
costs
Fees and
honoraria
Travel,
accommodation
and meals
TOTAL 2021|**Research**
**30**
**September**
**2022**
**£**
51,138
-
-
-
1,300
-
-
52,438
63,449|**Networking**
**30**
**September**
**2022**
**£**
88,939
-
-
-
3,000
-
-
91,939
63,449|**Events**
**30**
**September**
**2022**
**£**
79,597
8,330
3,457
900
98,373
3,808
2,035
196,500
63,449|**Funding**
**30**
**September**
**2022**
**£**
41,648
-
-
-
-
-
-
41,648
63,450|**Total**
**funds**
**30**
**September**
**2022**
**£**
**261,322**
**8,330**
**3,457**
**900**
**102,673**
**3,808**
**2,035**
**382,525**
253,797|Total
funds
9 months
ended
30
September
2021
£
253,797
-
-
-
-
-
-|
|---|---|---|---|---|---|---|
|||||||253,797|
||||||||
Page 27
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **8. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF SUPPORT COSTS**
|Staff costs
Other staff costs
Professional fees
Subscriptions
Communications
and marketing
Equipment and
supplies
Insurance
Project and event
costs
Fees and
honoraria
Travel,
accommodation
and meals
TOTAL 2021|**Research**
**30**
**September**
**2022**
**£**
174
1,256
9,062
711
414
10
711
1,655
-
258
14,251
28,310|**Networking**
**30**
**September**
**2022**
**£**
305
2,202
15,888
1,246
727
18
1,246
2,902
-
451
24,985
28,310|**Events**
**30**
**September**
**2022**
**£**
651
4,705
33,956
2,663
1,552
39
2,662
6,204
-
966
53,398
28,310|**Funding**
**30**
**September**
**2022**
**£**
138
997
7,197
564
329
8
564
1,315
-
205
11,317
28,311|**Total**
**funds**
**30**
**September**
**2022**
**£**
**1,268**
**9,160**
**66,103**
**5,184**
**3,022**
**75**
**5,183**
**12,076**
**-**
**1,880**
**103,951**
113,241|Total
funds
9 months
ended
30
September
2021
£
-
7,131
76,398
311
8,897
190
5,590
14,463
225
36|
|---|---|---|---|---|---|---|
|||||||113,241|
||||||||
Page 28
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **9. ANALYSIS OF GRANTS**
|||||Total|
|---|---|---|---|---|
|||**Grants to**|**Total**|funds|
|||**Institutions**|**funds**|9 months|
|||||ended|
|||**30**|**30**|30|
|||**September**|**September**|September|
|||**2022**|**2022**|2021|
|||**£**|**£**|£|
|Grants (note|8)|116,840|**116,840**|-|
Grants made to institutions are as follows:
|Ardimages UK Ltd
Tyke Films Ltd
Last Conker Ltd
Lono Studios Ltd
Strive Films Ltd
Black Dog SPV Ltd|**2022**
**£**
**22,840**
**25,000**
**25,000**
**24,000**
**10,000**
**10,000**
**116,840**|2021
£
-
-
-
-
-
-|
|---|---|---|
|||-|
## **10. INDEPENDENT EXAMINER'S REMUNERATION**
|||9 months|
|---|---|---|
|||ended|
||**30**|30|
||**September**|September|
||**2022**|2021|
||**£**|£|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**1,925**|1,750|
|Fees payable to the Charity's independent examiner in respect of:|||
|Statutory financial statements preparation|**2,200**|2,000|
|Corporation tax compliance|**1,045**|950|
|Charity Commission annual return and filing|**248**|225|
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
Private medical insurance|**30**
**September**
**2022**
**£**
**219,594**
**21,409**
**21,587**
**2,201**
**264,791**|9 months
ended
30
September
2021
£
208,939
15,396
29,462
3,627|
|---|---|---|
||||
|||257,424|
The average number of persons employed by the Charity during the year was as follows:
|||9 months|
|---|---|---|
|||ended|
||**30**|30|
||**September**|September|
||**2022**|2021|
||**No.**|No.|
|Administration|**4**|4|
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
||||9 months|
|---|---|---|---|
||||ended|
|||**30**|30|
|||**September**|September|
|||**2022**|2021|
|||**No.**|No.|
|In the band £70,001|- £80,000|**-**|1|
|In the band £90,001|- £100,000|**1**|-|
The key management personnel of the Charity comprised the Managing Director and the Head of Communications. The total employee benefits (including employer pension costs and employers national insurance payments) paid to key management personnel during the 12 months ended 30 September 2022 amounted to £168,131.
## **12. TRUSTEES' REMUNERATION AND EXPENSES**
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **12. TRUSTEES' REMUNERATION AND EXPENSES (CONTINUED)**
During the year ended 30 September 2022, no Trustee expenses have been incurred (2021 - £NIL).
## **13. INTANGIBLE ASSETS**
|**COST**
Additions
At 30 September 2022
**AMORTISATION**
Charge for the year
At 30 September 2022
**NET BOOK VALUE**
At 30 September 2022
At 30 September 2021|**Website**
**£**
**40,200**|
|---|---|
||**40,200**|
||**1,675**|
||**1,675**|
|||
||**38,525**|
||-|
## **14. DEBTORS**
|Other debtors
Prepayments and accrued income|**2022**
**£**
**1,485**
**68,578**
**70,063**|2021
£
-
73,220
73,220|
|---|---|---|
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Accruals and deferred income
Grant commitments
**Deferred income movements**
Deferred income at 1 October 2021
Resources deferred during the year
Amounts released from previous periods
Deferred income related to the Wellcome Trust grant.
**Grant commitment movements**
Grant commitments at 1 October 2021
Grants committed (note 9)
Grants paid|**2022**
**£**
**3,671**
**8,290**
**41,000**
**52,961**
**2022**
**£**
**342,073**
**-**
**(342,073)**
**-**
**2022**
**£**
**-**
**116,840**
**(75,840)**
**41,000**|2021
£
3,097
346,797
-|
|---|---|---|
||||
|||349,894|
|||2021
£
-
342,073
-|
||||
|||342,073|
|||2021
£
-
-
-|
|||-|
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **16. STATEMENT OF FUNDS**
## **STATEMENT OF FUNDS - CURRENT YEAR**
|**UNRESTRICTED FUNDS**
General Fund
**RESTRICTED FUNDS**
Wellcome Trust
Joseph Rowntree Foundation
Unbound Philanthropy
Comic Relief
**TOTAL OF FUNDS**|**Balance at 1**
**October**
**2021**
**£**
**87,828**
**-**
**96,002**
**95,603**
**-**
**191,605**
**279,433**|**Income**
**£**
**60,946**
**497,285**
**100**
**-**
**50,000**
**547,385**
**608,331**|**Expenditure**
**£**
**(43,566)**
**(457,085)**
**(38,610)**
**(44,548)**
**(19,507)**
**(559,750)**
**(603,316)**|**Transfers**
**in/out**
**£**
**40,200**
**(40,200)**
**-**
**-**
**-**
**(40,200)**
**-**|**Balance at**
**30**
**September**
**2022**
**£**
**145,408**|
|---|---|---|---|---|---|
||||||**-**
**57,492**
**51,055**
**30,493**|
||||||**139,040**|
||||||**284,448**|
## **Wellcome Trust**
Restricted funding to support the setup, operation and activities of OKRE over five years, to create a more sustainable transformation in the engagement of research with mass media, in particular as relates to health related issues. The transfer to the General Fund represents the use of Wellcome Trust funds to upgrade the website.
## **Joseph Rowntree Foundation**
Restricted funding to pilot a programme of activity including across research, events, funding and network building, for working with the entertainment industries focused on the intersection of poverty and health.
## **Unbound Philanthropy**
Restricted funding to pilot a programme of activity across research, events and network building for working with the entertainment industries, focussed on addressing inauthentic and misleading representations of immigrant communities that raise barriers to integration and public support for a fair society.
## **Comic Relief**
Restricted funding towards the OKRE Summit held in June 2022 and the running of the Entertainment Industries Taskforce on Social Impact.
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DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **16. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR PERIOD**
|Income
£
**UNRESTRICTED FUNDS**
General Fund
95,028
**RESTRICTED FUNDS**
Wellcome Trust
351,437
Joseph Rowntree Foundation
100,002
Unbound Philanthropy
100,004
551,443
**TOTAL OF FUNDS**
646,471
**17.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
**Unrestricted**
**funds**
**2022**
**£**
Intangible fixed assets
38,525
Current assets
118,844
Creditors due within one year
(11,961)
**TOTAL**
145,408|Expenditure
£
(7,200)
(351,437)
(4,000)
(4,401)
(359,838)
(367,038)
**Restricted**
**funds**
**2022**
**£**
-
180,040
(41,000)
139,040|Balance at
30
September
2021
£
87,828
-
96,002
95,603
191,605
279,433
**Total**
**funds**
**2022**
**£**
**38,525**
**298,884**
**(52,961)**
**284,448**|
|---|---|---|
Page 34
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD**
|Unrestricted
funds
2021
£
Current assets
95,649
Creditors due within one year
(7,821)
**TOTAL**
87,828
**18.**
**RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW**
**ACTIVITIES**
Net (expenditure)/income for the year (as per Statement of Financial
Activities)
**ADJUSTMENTS FOR:**
Amortisation charges
Interest
Decrease/(increase) in debtors
(Decrease)/increase in creditors
**NET CASH PROVIDED BY/(USED IN) OPERATING ACTIVITIES**
**19.**
**ANALYSIS OF CASH AND CASH EQUIVALENTS**
Cash in hand
**TOTAL CASH AND CASH EQUIVALENTS**|Restricted
funds
2021
Total
funds
2021
£
£
533,678
629,327
(342,073)
(349,894)
191,605
279,433
**FROM OPERATING**
9 months
ended
**2022**
2021
**£**
£
**5,015**
279,433
**1,675**
-
**(119)**
(26)
**3,157**
(73,220)
**(296,933)**
349,894
**(287,205)**
556,081
**2022**
2021
**£**
£
**228,821**
556,107
**228,821**
556,107|
|---|---|
Page 35
DocuSign Envelope ID: D21FCE51-C85C-4460-A1D1-67140ABD7ECE
## **OKRE: OPENING KNOWLEDGE ACROSS RESEARCH AND ENTERTAINMENT (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022**
## **20. ANALYSIS OF CHANGES IN NET DEBT**
|Cash at bank and in hand|**At 1**
**October**
**2021**
**£**
**556,107**
**556,107**|**Cash flows**
**£**
**(327,286)**
**(327,286)**|**At 30**
**September**
**2022**
**£**
**228,821**|
|---|---|---|---|
||||**228,821**|
## **21. PENSION COMMITMENTS**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £21,587 (2021: £29,462). No balance was payable to the fund at the balance sheet date.
## **22. RELATED PARTY TRANSACTIONS**
OKRE trustee Philomena Gibbons is an employee of the Wellcome Trust, which is the principal funder of the charity. Her position on the Board of Trustees follows clause 8.5 in OKRE’s Articles of Association and involvement in decision-making follows OKRE’s conflict of interest policy.
There have been no other related party transactions up to the period ending 30 September 2022 (period ending 2021: no other).
Page 36