**Charity number: 1194022** 

## **Speech Bubbles CIO** 

## **Report of the Trustees and Unaudited Financial Statements** 

**For the year ended 31 August 2024** 



## **Speech Bubbles CIO Contents Page For the year ended 31 August 2024** 

|Report of the Trustees|1 to 4|
|---|---|
|Independent Examiner's Report to the Trustees|5|
|Statement of Financial Activities|6|
|Statement of Financial Position|7|
|Notes to the Financial Statements|8 to 15|





## **Speech Bubbles CIO Report of the Trustees** 

## **For the year ended 31 August 2024** 

The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 August 2024. The Trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). 

## **OBJECTIVES AND ACTIVITIES** 

## **Objectives and aims** 

## OBJECTIVES 

To advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama. 

## ACTIVITIES 

Drama workshops in primary schools that support the communication, confidence, and social interaction of children with communication needs. 

## **Statement on public benefit** 

The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. 

1 of 15 



## **Speech Bubbles CIO Report of the Trustees Continued For the year ended 31 August 2024** 

## **ACHIEVEMENTS AND PERFORMANCE** 

## **Significant activities** 

Whilst there is much that is positive to say about the academic year 2023-2024 it has been shocking in many ways. Our schools and theatre partners have been deeply impacted by a range of financial and social pressures. Many schools in the areas that we work have deficit budgets and are responding to that with staff cuts. We are also in areas where the impact of falling roles means that schools are closing classes or closing completely. Despite these challenges, we have had a wonderful time listening to children's stories and acting them out to build confidence, communication, and creativity. It has also been fantastic to share creative practice with educators through our Continued Professional Development (CPD) programme. 

## Speech Bubbles School Programme. 

In total 1100 children in 54 schools have taken part in Speech Bubbles this year. With 1000 taking part in the full 24 week programme and 100 taking part in the 18 week Bounce Back programme that started in January. 

Of the participating children: 

- 37.5% had English as an additional language. National average 14% 

- 34% were eligible for Pupil Premium. National average 26% 

- 9% had an education, health care plan. National average 3% 

- 70% did not reach expected targets in literacy 

Changes that we see in participating children 

We ask class teachers to complete pre and post assessments on participating children. The assessment asks specific questions on speaking and listening and emotion and conduct and gives space for a comment. 

Teachers report that of the children taking part 

- 82% showed improvements for speaking and listening and of those 60% are clear or striking improvements. 

- 82% showed improvements for emotion and conduct behaviour and of those 45% are clear or striking improvements. 

- In the comments 94% showed improvements back in the classroom and of those 75% are clear or striking improvements. 

## Drama Tools For Great Communication 

This year we rolled out our teachers Continued Professional Development (CPD) workshops across the partner network. In total 510 school staff in 48 schools have taken part in Speech Bubbles CPD. 

77 students and professionals have taken part across 3 Higher Education settings and 1 professional network The feedback from the CPD has been extremely positive: 

· 94% of respondents saying they felt better equipped to plan and deliver a creative activity that supported communication 

- 96% of respondents saying that they would use aspects of the session in their professional practice 

"Delivery excellent and non-threatening. Practical non-challenging ideas removing apprehension. Facilitators were superb very understanding and made it easy." 

## The Partner network 

This year Speech Bubbles was delivered in Greater Manchester, Hertfordshire, Greater London and Kent by our partner network. Our CPD programme was also available in Nottingham. 

- Bounce Theatre: London Borough of Wandsworth 

- Half Moon Theatre: London Borough of Tower Hamlets 

- Immediate Theatre: London Borough of Hackney 

- Kazzum Arts: London Borough of Newham 

- London Bubble Theatre: London Boroughs of Southwark and Lewisham 

- Herts Inclusive Theatre: Hertfordshire 

- M6 Theatre: Rochdale 

- NW Drama Service: Salford 

- Oldham Theatre Workshop: Oldham 

- Peoplescape Theatre: Manchester 

- Speech Bubbles CIO: Croydon, Greenwich, Lambeth 

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**Speech Bubbles CIO Report of the Trustees Continued For the year ended 31 August 2024** 

- Trinity Theatre: Kent 

- Nottingham Playhouse: Nottingham (CPD delivery) 

We also trained up our latest partner Bristol Old Vic who will be delivering in schools from September 2024. 

Making the case: for arts in education. 

Although Speech Bubbles CIO is a relatively small organisation, we believe that our unique history, culture of cross-sector collaboration, and evidence-based approach can offer significant benefits to a wide professional community. Reaching out and making that case also brings us into contact with opportunities to improve practice and reach more children in need. 

Over the last 12 months we have: 

· Presented at nine events in London, Kent, Manchester and online. 

· Written a book. That's My Story! Published by Routledge March 24. 

· Recorded a podcast for the Oracy Education Commission. 

· Published 12 blog posts describing our practice and connections with the wider cultural education community. 

## **FINANCIAL REVIEW** 

From Sept 2023- August 2024 we had earned income from schools and theatre partners, grant income, pro bono consultancy and a donation. 

Thanks to - 

Paul Hamlyn Foundation, Garfield Weston, Walcot Foundation, Kenora Trust, Identity E2E for financial support and to the Cranfield Trust for Pro Bono Consultancy support. 

## **Reserves** 

Speech Bubbles CIO maintains free unrestricted reserves: 

· to provide a level of working capital that protects the continuity of our core work · to provide a level of funding for unexpected opportunities 

· to provide cover for risks such as unforeseen expenditure or unanticipated loss of income. 

The board of trustees will review the above criteria with reference to Speech Bubbles CIO's strategy and Annual Plan and determine the target level of free reserves to meet these. The board of trustees will at times designate funds from free reserves for significant project costs or replacement of major assets. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

Speech Bubbles was constituted as a Charitable Incorporated Organisation registered on 07 April 2021. 

## **Recruitment and appointment of trustees** 

(1)At every annual general meeting of the members of the CIO, one-third of the charity trustees shall retire from office.  If the number of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office 

(2)The charity trustees to retire by rotation shall be those who have been longest in office since their last appointment or reappointment.  If any trustees were last appointed or reappointed on the same day those to retire shall (unless they otherwise agree among themselves) be determined by lot; 

(3)The vacancies so arising may be filled by the decision of the members at the annual general meeting; any vacancies not filled at the annual general meeting may be filled as provided in sub-clause (4) of this clause: 

(4) The members or the charity trustees may at any time decide to appoint a new charity trustee, whether in place of a charity trustee who has retired or been removed in accordance with clause 15) (Retirement and removal of charity trustees), or as an additional charity(1)trustee, provided that the limit specified in clause 12) (3) on the number of charity trustees would not as a result be exceeded; 

(5)A person so appointed by the members of the CIO shall retire in accordance with the provisions of sub-clauses (2) and (3) of this clause.  A person so appointed by the charity trustees shall retire at the conclusion of the next annual general meeting after the date of his or her appointment, and shall not be counted for the purpose of determining which of the charity trustees is to retire by rotation at that meeting. 

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## **Speech Bubbles CIO Independent Examiners Report to the Trustees For the year ended 31 August 2024** 

I report to the trustees on my examination of the accounts of the charity for the year ended 31 August 2024. 

## **Responsibilities and basis of report** 

As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). 

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiners statement** 

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 that in any material respect: 

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 

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. 


Andrew M Wells FMAAT Counterculture Partnership LLP Bank Chambers, Main Street Hawes North Yorkshire DL8 3QL 

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## **Speech Bubbles CIO Statement of Financial Activities For the year ended 31 August 2024** 

||**Notes**|**Unrestricted**|**Restricted**|**2024**|**2023**|
|---|---|---|---|---|---|
|||**funds**|**funds**|||
|||**£**|**£**|**£**|**£**|
|**Income and endowments from:**||||||
|Donations and legacies|2|90,648|60,940|151,588|162,748|
|Charitable activities|3|36,040|-|36,040|55,747|
|Investments|4|1,371|-|1,371|233|
|**Total**||**128,059**|**60,940**|**188,999**|**218,728**|
|**Expenditure on:**||||||
|Raising funds|5|(2,431)|-|(2,431)|(2,200)|
|Charitable activities|6/7|(133,827)|(29,190)|(163,017)|(182,690)|
|**Total**||**(136,258)**|**(29,190)**|**(165,448)**|**(184,890)**|
|**Net income/expenditure**||**(8,199)**|**31,750**|**23,551**|**33,838**|
|**Reconciliation of funds**||||||
|Total funds brought forward||64,812|16,750|81,562|47,724|
|**Total funds carried forward**||**56,613**|**48,500**|**105,113**|**81,562**|



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## **Speech Bubbles CIO Notes to the Financial Statements For the year ended 31 August 2024** 

## **1. Accounting Policies** 

## **Basis of accounting** 

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011. 

Speech Bubbles CIO 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 note(s). 

## **Going concern** 

The financial statements are prepared, on a going concern basis, under the historical cost convention. 

## **Funds** 

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. 

Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. 

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. 

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.  The following specific policies are applied to particular categories of income: 

-Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Grants of a general nature that are not conditional on delivering certain levels of service are included in donations and legacies. 

## **Resources expended** 

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for its expenditure. All costs have been directly attributed or proportionally charged to the functional categories of resources expended in the SOFA. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which is relates. 

Expenditure on charitable activities comprises the costs of undertaking the relevant projects. These costs are classified as direct charitable expenses. 

Governance costs comprise costs related to the governance of the charity, to allow it to operate and to generate information for public accountability. 

All remaining costs are classified as support costs. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office and admin costs. 

## **Taxation** 

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. 

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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

## **Tangible fixed assets** 

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 

Computer equipment 

33% Straight line 

## **Stocks and work in progress** 

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 

## **2. Income from donations and legacies** 

|Donations received<br>Grants received<br>**Analysis of grants received**<br>Foyle Foundation<br>Garfield Weston<br>I Can Charity<br>Kenora Charitable Foundation<br>Paul Hamlyn Foundation<br>Royal Society of Art<br>Walcott Grant<br>**ncome from charitable activities**<br>**Unrestricted funds**<br>_Helping children with speech_<br>_and language difficulties_<br>Income from charitable<br>activities|**Restricted**<br>**funds**<br>**Unrestricted**<br>**funds**<br>**£**<br>**£**<br>-<br>5,563<br>60,940<br>85,085<br>**60,940**<br>**90,648**|**2024**<br>**£**<br>5,563<br>146,025<br>**151,588**<br>**2024**<br>**£**<br>20,000<br>15,000<br>-<br>25,940<br>85,085<br>-<br>-<br>**146,025**<br>**2024**<br>**£**<br>36,040|**2023**<br>**£**<br>18,648<br>144,100|
|---|---|---|---|
||||**162,748**|
||||**2023**<br>**£**<br>10,000<br>15,000<br>30,000<br>-<br>77,350<br>5,000<br>6,750|
||||**144,100**|
||||**2023**<br>**£**<br>55,747|



## **3. Income from charitable activities** 

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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

## **4. Investment income** 

|**Unrestricted funds**<br>Bank interest receivable<br>**xpenditure on generating donations and legacies**<br>**Unrestricted funds**<br>Donations<br>**osts of charitable activities by fund type**<br>Helping children with speech<br>and language difficulties<br>Support costs<br>**osts of charitable activities by activity type**<br>**Support costs**<br>Helping children with speech<br>and language difficulties|**Unrestricted**<br>**funds**<br>**£**<br>124,155<br>9,672<br>**133,827**<br>**Activities**<br>**undertaken**<br>**directly**<br>**£**<br>153,345|**Restricted**<br>**funds**<br>**£**<br>29,190<br>-<br>**29,190**<br>**Support**<br>**costs**<br>**£**<br>9,672|**2024**<br>**£**<br>1,371<br>**1,371**<br>**2024**<br>**£**<br>2,431<br>**2,431**<br>**2024**<br>**£**<br>153,345<br>9,672<br>**163,017**<br>**2024**<br>**£**<br>163,017|**2023**<br>**£**<br>233|
|---|---|---|---|---|
|||||**233**|
|||||**2023**<br>**£**<br>2,200|
|||||**2,200**|
|||||**2023**<br>**£**<br>170,482<br>12,208|
|||||**182,690**|
|||||**2023**<br>**£**<br>182,690|



## **5. Expenditure on generating donations and legacies** 

## **6. Costs of charitable activities by fund type** 

## **7. Costs of charitable activities by activity type** 

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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

## **8. Analysis of support costs** 

|**Helping children with speech and language difficulties**<br>General administration<br>Finance<br>IT<br>Staffing costs<br>Governance costs|**2024**<br>**£**<br>5,112<br>1,589<br>1,254<br>624<br>1,093<br>**9,672**|**2023**<br>**£**<br>4,284<br>3,130<br>2,713<br>624<br>1,457|
|---|---|---|
|||**12,208**|



## **9. Net income/(expenditure) for the year** 

This is stated after charging/(crediting): 

|This is stated after charging/(crediting):|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Depreciation of owned fixed assets|143|143|
|Accountancy fees|1,000|862|
|Staff pension contributions|2,209|2,006|



## **10. Staff costs and emoluments** 

Total staff costs for the year ended 31 August 2024 were: 

|Salaries and wages<br>Social security costs<br>Pension costs|**2024**<br>**£**<br>73,629<br>2,262<br>2,209<br>**78,100**|**2023**<br>**£**<br>66,875<br>1,478<br>2,006|
|---|---|---|
|||**70,359**|



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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

|Employed staff FTE|**2024**<br>2<br>**2**|**2023**<br>2|
|---|---|---|
|||**2**|



There were no employees (2023: £Nil) who received emoluments (excluding employer pension costs) of more than £60,000. 

The key management personnel of the Charity, comprise the Chief Executive Officer and General Manager. The total employee benefits of the key management personnel of the charity were £75,838 (2023: £68,881). 

## **11. Trustee remuneration and related party transactions** 

The Charity trustees were not paid or received any other benefits from employment with the Charity in the year (2023: £nil). 

No trustees were reimbursed expenses during the year (2023:nil). 

No charity trustee received payment for professional or other services supplied to the charity (2023: £nil). There were no related party transactions requiring disclosure during the year. 

## **12. Comparative for the Statement of Financial Activities** 

||**Unrestricted**|**Restricted**|**2023**|
|---|---|---|---|
||**funds**|**funds**||
||**£**|**£**|**£**|
|**Income and endowments from:**||||
|Donations and legacies|95,998|66,750|162,748|
|Charitable activities|55,747|-|55,747|
|Investments|233|-|233|
|**Total**|**151,978**|**66,750**|**218,728**|
|**Expenditure on:**||||
|Raising funds|(2,200)|-|(2,200)|
|Charitable activities|(112,690)|(70,000)|(182,690)|
|**Total**|**(114,890)**|**(70,000)**|**(184,890)**|
|**Net income/expenditure**|**37,088**|**(3,250)**|**33,838**|
|**Reconciliation of funds**||||
|Total funds brought forward|27,724|20,000|47,724|
|**Total funds carried forward**|**64,812**|**16,750**|**81,562**|



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**Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

## **13. Tangible fixed assets** 

|**Cost or valuation**<br>At 01 September 2023<br>At 31 August 2024<br>**Depreciation**<br>At 01 September 2023<br>Charge for year<br>At 31 August 2024<br>**Net book values**<br>At 31 August 2024<br>At 31 August 2023<br>**Stocks and work in progress**<br>Stocks of raw materials<br>**Debtors**<br>**Amounts due within one year:**<br>Trade debtors<br>Prepayments and accrued income<br>Other debtors<br>**Creditors: amounts falling due within one year**<br>Trade creditors<br>Other creditors<br>Accruals and deferred income|**2024**<br>**£**<br>337<br>**337**<br>**2024**<br>**£**<br>-<br>454<br>1,456<br>**1,910**<br>**2024**<br>**£**<br>3,279<br>429<br>1,143<br>**4,851**|**Computer**<br>**equipment**<br>**£**<br>571|
|---|---|---|
|||**571**|
|||286<br>143|
|||**429**|
|||**142**|
|||**285**|
|||**2023**<br>**£**<br>-|
|||**-**|
|||**2023**<br>**£**<br>2,100<br>2,500<br>1,244|
|||**5,844**|
|||**2023**<br>**£**<br>782<br>390<br>2,862|
|||**4,034**|



## **14. Stocks and work in progress** 

## **15. Debtors** 

## **16. Creditors: amounts falling due within one year** 

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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

## **17. Movement in funds** 

## **Unrestricted Funds** 

||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
|---|---|---|---|---|
||**01/09/2023**|**resources**|**resources**|**31/08/2024**|
||**£**|**£**|**£**|**£**|
|_General_|||||
|General|64,812|128,059|(136,258)|56,613|
||**64,812**|**128,059**|**(136,258)**|**56,613**|
|**Unrestricted Funds - Previous year**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/09/2022**|**resources**|**resources**|**31/08/2023**|
||**£**|**£**|**£**|**£**|
|_General_|||||
|General|27,724|151,978|(114,890)|64,812|
||**27,724**|**151,978**|**(114,890)**|**64,812**|
|**Restricted Funds**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/09/2023**|**resources**|**resources**|**31/08/2024**|
||**£**|**£**|**£**|**£**|
|Projects|16,750|60,940|(29,190)|48,500|
||**16,750**|**60,940**|**(29,190)**|**48,500**|
|**Restricted Funds - Previous year**|||||
||**Balance at**|**Incoming**|**Outgoing**|**Balance at**|
||**01/09/2022**|**resources**|**resources**|**31/08/2023**|
||**£**|**£**|**£**|**£**|
|Projects|20,000|66,750|(70,000)|16,750|
||**20,000**|**66,750**|**(70,000)**|**16,750**|



## **Purpose of restricted funds** 

## Projects 

To plan and deliver drama for communication interventions in schools 

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## **Speech Bubbles CIO Notes to the Financial Statements Continued For the year ended 31 August 2024** 

## **18. Analysis of net assets between funds** 

||**Tangible**|**Net current**|**Net Assets**|
|---|---|---|---|
||**fixed assets**|**assets /**||
|||**(liabilities)**||
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|_General_||||
|General|142|56,471|56,613|
|**Restricted funds**||||
|Projects|-|48,500|48,500|
||**142**|**104,971**|**105,113**|
|**Previous year**||||
||**Tangible**|**Net current**|**Net Assets**|
||**fixed assets**|**assets /**||
|||**(liabilities)**||
||**£**|**£**|**£**|
|**Unrestricted funds**||||
|_General_||||
|General|285|64,527|64,812|
|**Restricted funds**||||
|Projects|-|16,750|16,750|
||**285**|**81,277**|**81,562**|



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