Charity registration number.. 1194022 SPEECH BUBBLES CIO TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Speech Bubbles CIO Contents Page Trustees, Report Independent Examiner's Report Statement of Flnancial Activitles Comparative Statement of Financial Activities statement of Financial Position Notes to the Financial Statements 10-L5 Speech Bubbles CIO Trustees, Report For The Year Ended 31 August 2025 The trustees present their report and the financial statements for the year ended 31 August 2025. Objectives and Activities Alms and ObJectlve$ OBJECTIVES To advance the arts for the public benefit by the promotion in particular, but not exclusivelyi of the art of drama. ACTIVITIE5 Drama workshops in primary schools that support the cornmunication, confidence. and social Interaction of children with communication needs. Achlevements and Performance Main Achievements Context and Need The Speech Bubbles financial year mirrors the academic year in England and Wales. The 2024-2025 period continued to be turbulent across arts and education, with funding pressures and shifting policy landscapes. A governrnent-led curriculum and a5sessrnent review dominated discu55ions about how we educate. We welcome the followlng flndings of the Interim report,. The Prlmary Currlculum has too much 'content' and this is affecting the breadth of the learnlng. There is a need for increased 'diversity in rep￿sentation,. Persistent attainment gaps for socio-ectsnomically disadvantaged pupils and those with SEND need addfftssing. Arts Emergency reported a continued decline in teaching hours dedicated to Arts Education in state schools. Funding remains squeezed.. Schools are struggling to balance budgets. Arts organisations are competing for dwindling resources. The need for Speech Bubbles has never been greater.. Speech and Language UK reports over 2 million Child￿rn a￿ struggling with talking and understanding words. In this context. we are proud to share our achievements Speech Bubbles School Programme Thi5 year, 1,000 children in 54 schools took part in Speech Bubbles, delivered by 12 theatre partners across Bristol. Hertfordshire, Kent, London, and Manchester. Demographic5 of participating Child￿n.. 380k We￿ multilingual learners (national average= 14¥01 44% were eligible ft>r Pupil Premium (national average.. 26%) Il% had an Educatlon, Health and Care Plan Inational average.. 3%) Reported changes In particlpatlng chlldren.. 86Wo showed Impmvements in speaking and listening. 59% of these were clear or striking Improvements 87Q/o showed Impmvernents in emotional and conduct behaviour. 62Wo of these were clear or striking improvements 91% Showed Improve￿entS back in the classroom. 73% of these were clear or striking i￿proVeMents Special Education Developments We undertook a review of our work in Special Education, using the findlngs to.. Refine our model of practlce .CONTINUED Page I Speech Bubbles CIO Trustees. Report (continued) For The Year Ended 31 August 2025 Main Achievements - continued Train new practitioners Expand our reach to new schools and ￿sOurce bases Teacher-oported outcomes in special education.. 81Wo of children showed Improved social interartion with peers and adults In 2025-2026, we will continue to develop this strand and support partner theatres to eng3ge Special Schools In their regions. Drama Tools for Great Communication We expanded our successful teacher workshop prograrnme and introduced a monthly e-mail bulletin to maintain engagement thmughout the school year. This is a direct response to reports that many teachers feel unprepared to support children'5 increasing speech, language and comrnunication needs. Reach and impact.. 800 school staff and students from 77 schools and 4 HE institutions participated in Speech Bubbles training workshops 93% of stsrr reported increased confldence, skills, and understandlng to Improve classroom communlcatlon 900h said they would use aspects of the session in their professional practice "This wa5 great training and gave rne tools to use with children to talk and communicate better... KSI Teacher Partner Network Our programme was delivered by the following theatre partner5- Bounce Theatre - Wandsworth Bristol Old Vic Half Moon Theatre Tower Hatnlets Herts Inclusive Theatre Hertfordshire Immediate Theatre Hacknev London Bubble Theatre - Southwark and Lewisharn M6 Theatre - Rochdale NW Drama Service - Salford Oldham Theatre Workshop - Oldham Peoplescape Theatre Manchester Speech Bubbles CIO - Bromley, Croydon, Greenwlch, Lambeth, Newham Trinity Theatre Kent We also trained our newest partner, Hall for Cornwall, who will begin delivery in schools fmm September 2025. Developments Though Speech Bubbles CIO is a relatively srnall oryani5ation, our history of cr055-sector collaboration and evidence-based practice offers slgniflcant value to the wlder professlonal communlty. Two key developments began thls year an¢ wlll continue into 2025-2026.. Measuring Creativity We've developed a tool to measure changes In children's creatlvlty through drama. This wlll be trlalled in flve to seven schools this year. Safeguarding in the Age of Al In response to growing concerns about the rnisuse of children's itnages online, we have ceased using recognisable photographs. We are commissioning vlsual 3rtlsts to create bespoke Illustrations that reflect our ethos and the loy of the project whilst protecting children's identities. We are actively contributing to sector-wide discussion5 and working with strategic organisations to shape best practice in safeguardlng In the age of gene￿tIVe AI. .CONTINUED Page 2 Speech Bubbles CIO Trustees. Report (continued) For The Year Ended 31 August 2025 Main Achievements - continued Financial Review Flnanclal Posltlon From Sept 2024- August 2025 we had earned income from schools and theatre partners, grnnt 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 Policv Speech Bubbles CIO maintains free UnreSt￿cted reserves.. to provlde 3 level of working capltal that protects the contlnulty of our core work to provide a level of funding for unexpected opportunities to provide cover for risk5 such as unforeseen expenditure or unanticipated 1055 of income. The board of trustees will review the above criteria with reference to Speech Bubbles CIO'S strategy and Annual Plan and determlne 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 asset5. structure Governance and Management Governing Document Speech Bubble5 was constituted a5 a Charitable Incorporated Organisation registered on 07 April 2021. Recruitment and appointment of trustees l. At every 3nnual gerne￿I meeting of the members of the CIO, one-third of the charity trustees shall retire from office. If the nurnber of charity trustees is not three or a multiple of three, then the number nearest to one-third shall retire from office 2. The charily trustees to retire by rotation shall be those who have been longest in office since their last appointrnent or reappointrnent. If any trustees wefft last appointed or reappointed on the sarne day those to retire shall (unless theyotherwise agree among themselves) be determined by lot,. 3. The vacancies 50 arising rnay be filled by the decision of the rnembers at the annual general rneetingi any vacancies not filled at the annual general meeting may be filled as provided in sub-clause 141 of thls clause.. 4. The rnembers 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 151 (Retirement and ￿MOVal of charity trustees), or as an additional charityl Iltrustee, pmvided that the limit specified in clause L21131 on the number of charity trustees would not a5 a result be exceeded., 5. A person so appolnted by the members of the CIO shall retlre In accordance wlth the provlslons of sub-clauses 121 and 13lof this clause. A person so appointed by the charity trustees shall ￿tIre at the conclusion of the next annual general meeting after the date of his or her appointrnent, and shall not be counted for the purpose of determining which of the ch3rity trustees is to retire by mtation at that meeting Reference and Administrative Details Trustee$ Ms Katherine Dench (appointed 12111120241 Ms Lilian Rice Ms France5 Jones Mr Jason Lower Ms Caitlin McLoughlin Mr Wayne Cooper Page 3 Speech Bubbles CIO Trustees. Report {continued} For The Year Ended 31 August 2025 Charity Number 1194022 Prlnclpal Address 3-5 Elephant Lane Rotherhithe London SE16 4JD Independent Examlner Caroline Clarke Counterculture Portner5hip LLP 23 St Leonards Road East Sussex TN40 IHH Page 4 Ththv. Report [con*STru•d) FofTho Y¢at Etld¢d 31 Au8th*t 2025 ## **Speech Bubbles CIO Independent Examiner's Report to the Trustees of Speech Bubbles CIO For The Year Ended 31 August 2025** I report to the trustees on my examination of the accounts of Speech Bubbles CIO (the Trust) for the year ended 31 August 2025. ## **Responsibilities and Basis of Report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner's Statement** I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the 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 contents 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. Caroline Clarke 10 February 2026 Counterculture Partnership LLP 23 St Leonards Road Bexhill East Sussex TN40 lHH Page 6 Speech Bubbles CIO statement of Financial Activities For The Year Ended 31 August 2025 2025 2024 Unrestrlcted Restrlcted funds funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities.. Helping children with speech and language difficulties Investments 89,103 116.949 206.052 151.588 32,834 3,857 32 32,834 3,857 32 36,040 1,371 other 125,826 116,949 242,775 188,999 EXPENDITURE ON: Raising funds Charitable activities.. Helplng chlldren wlth speech and language dlfficulties 13,2301 {3,2301 12,4311 1115,7001 1103,7101 1219,4101 1163,0171 1118,9301 1103,7101 1222,6401 1165,4481 NET INCOME 6,896 13,239 20,135 23,551 NET MOVEMENT IN FUNDS 6,896 13.239 20.135 23.551 RECONCILIATION OF FUNDS: Total funds brought forward 56,613 48,500 105,113 81,562 TOTAL FUNDS CARRIED FORWARD 16 63,509 61,739 125,248 105,113 The notes on pages 10 to 15 form part of these financial statements. Page 7 Speech Bubbles CIO Comparative Statement of Financial Activities For The Year Ended 31 August 2025 2024 Unrestrlcted Restrlcted funds funds Total funds Note$ INCOME AND ENDOWMENTS FROM: Donations and legacies Charitable activities.. Helping children with speech and language difficulties Investments 90,648 60.940 151.588 36,040 1,371 36,040 1,371 128,059 60,940 188,999 EXPENDITURE ON: Raising funds Ch3ritable activities.. Helping children with speech and language difficulties 12,4311 12,4311 1133,8271 129,1901 1163,0171 1136,2581 129,1901 1165,4481 NET INCOME 18,199} 31,750 23.551 NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: 18,199) 31,750 23,551 Total funds brought forward 64,812 16,750 81.562 TOTAL FUNDS CARRIED FORWARD 16 56,613 48,500 105,113 The notes on pages 10 to 15 form part of these financial statements. Page 8 A•At31 AUg11rt 3015 li 243 137 19.684 61.739 109.3S3 b￿k￿￿jIn hr+J 107,575 67.541 6L,f39 IopAIJ I4￿52) 65.5t19 125.246 IU4.971 3.51 125.24e 105.113 63.5Dg 12S.z48 lQ5.113 48.5riJ 63.5tP 56*13 12S.Z4B I￿.113 On IDF*w2D2 Speech Bubbles CIO Notes to the Financial Statements For The Year Ended 31 August 2025 l. General Information Speech Bubbles CIO is a charitable incorporated organisation registered with the Charity Commission, ￿gistered charity number 1194022. The principal address is 3-5 Elephant Lane, Rotherhithe, London, SE16 41D. 2. Accountlng Pollcles 2. 1. Basis of Preparation of Financial Statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 "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 IFRS 1021 (effective I January 20191. Financial Reporting Standard 102 "The Financial Reporting Stsndard applicable in the UK and Republic of Ireland 2nd the Charities Act 2011. The charity is a Public Benefit Entity as defined by FRS 102. 2.2. Fund Accounting Unrestrlcted funds can be used In accordance wlth the charitable objectives at the dlscretlon of the trustees. Designated funds comprise unrestricted funds that h3ve been set 3side by the trustees for a specific purpose. Restricted funds are to be used for specific purposes as laid down by the donor. Further explanation of the nature and purpose of each fund 15 included in the notes to the financial 5tatetnents. 2.3. 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 prob8ble and its amount can be measured reliably. Grant5 of a general nature that are not conditional on delivering certain levels of service a￿ included in donations and legacies 2.4. Resources Expended All expendlture Is Included on an accruals basis and Is recognised when there is 3 legal or construrtive obligation to pay for its expenditure. All costs have been direttly attributed or proportionally charged to the functional categories ofresourtes expended In the SOFA. Expenditure includes any VAT whlch cannot be fully recovered and is reported as partof 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 remainlng costs 3re classifled as support costs. Support costs are those that asslst the work of the charlty but do not directly represent charitable activitie5 and include office and admin costs. 2.5. Tangible Fixed Assets and Depreciation Tangible fixed a55et5 are measured at C05t le55 accumulated depreciation and any accutnulated irnpairment 105se5. Depreciation Is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following ba5es'. Computer Equipment 33Wo Straight line Page 10 Speech Bubbles CIO Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 2.6. Stocks and Work in Progress Stocks and work in progress are valued at the lower of cost and net ￿alisable value after making due allowance for obsolete and slow-moving stocks. Cost Is determined using the first-in. first-out method. Cost includes all direct costs 3nd an appropriate proportion of fixed and variable overheads. Work in prog￿$5 is reflected in the accounts on a contract by contTrct basis by recording turnover and related costs as contract activity progresses. At the end of each reporting period stock5 are assessed for impaimient. If an itern of stock 15 impaired, the identified stock is reduced to Its selling prlce less costs to complete and sell and an Impairment charge Is recognlsed in the statement of financial activities. Where a reversal of the Impairment Is required the impairment charye Is reversed, up to the original irnpairment loss, and 15 reC￿niSed as a credit in the statement of financial activitie5. 2.7. Taxation The charity is exempt from tax as all its Income is charitable and applied for charitable purposes. Income from Donations and Legacies 2025 Unrestricted Restricted Total funds fund5 funds Donation5 and gifts Grants 4,073 85,030 4,073 201,979 116,949 89,103 116,949 206,052 2024 Unrestricted Restricted Total fund$ fund$ fund$ Donations and gifts Grants 5,563 85,085 5,563 146,025 60,940 90,648 60,940 151,588 The following grants are included wlthln the totsl Income from donatlons and legacies above.. 2025 Unrestrlcted funds Restrlcted funds Total funds Foyle Foundation Garfield Weston Kenora Charitable Foundation Paul Hamlyn Foundation The Booth Charities Arts Council England Portal Trust Iron Mongers 36,673 36.673 85,030 30,750 22,046 18,807 8,673 85,030 30,750 22,046 18,807 8,673 85,030 116,949 201,979 Page 11 Speech Bubbles CIO Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 2024 Unrestrlcted Restrlcted funds funds Total funds Foyle Foundation Garfield Weston 20,000 15,000 25,940 20,000 15,000 25,940 85.085 Kenora Charitable Foundation Paul Hamlyn Foundation The Booth Charities Arts Council England Portal Trust Iron Mongers 85,085 85,085 60,940 146,025 4. Investment Income 2025 2024 Unrestrlcted Unrestrlcted funds funds Bank interest receivable 3,857 1.371 5. Other Income 2025 2024 Unrestricted Unre$trirte funds funds Roy31ty, licence and simllar receivables 32 Net Income/lExpendlture) The net income is stated after charging/lcreditingl'. 2025 2024 Depreclatlon of tangible fixed assets - owned 142 143 7. Analy$l$ of Expendlture 2025 Activities undertaken directly Support costs (see note 81 Total Raising funds Helping children with speech and language difficulties 3,230 209,256 3,230 219.410 10,154 212,486 10,154 222,640 Page 12 Speech Bubbles CIO Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 2024 Activities undertaken directly Support costs (see note 81 Total Raising funds Helping chIld￿n with speech and language difficulties 2,431 153,345 2,431 163.017 9,672 155,776 9,672 165,448 8. Support Costs 2025 Helping chlldren with speech an language difficulties Ernployee cost5- Staff expenses General adrnini5tration'. Computer and IT consumables Consultancy fees Bookkeeping fees Depreciation.. Depreciatlon Governance costs.. Independent examinevs fees Other governance costs 624 928 5.533 1,615 142 I,ioo 212 10,154 2024 Helping chlldren with speech nd language difficulties Ernployee costs- Staff expenses General adrninistration.. Computer and IT consumables Consultancy fees Bookkeeping fees Depreciation.. Depreciation 624 1.254 4.969 1,589 143 .CONTINUED Page 13 Speech Bubbles CIO Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 Governance costs.. Independenr examIne￿$ fees Olher governance costs 1,000 93 9,672 9. Staff Costs Staff costs We￿ as follows.. 2025 2024 Wages and salaries Social security Costs Other pension Costs 75,985 2,840 2,280 73,629 2,262 2,209 81,105 78,100 No employees received employee beneflts lexcluding employer penslon costs) for the reporting perlod of more than £60,000. 10. Average Number of Employees Average number of ernployees during the year was.. 2 12024.. 21 11. Tangible Assets Computer Equipment C05t A5 at I September 2024 571 at 31 August 2025 571 Depreclatlon As at I September 2024 Provided durlng the period 429 142 As at 31 August 2025 571 Net Book Value As at 31 August 2025 As at I September 2024 142 12. Stocks 2025 2024 stock 243 337 13. Debtors 2025 2024 Due within one year Trade debtors Other debtor5 16,650 3,034 1,910 19,684 1,910 Page 14 Speech Bubbles CIO Notes to the Financial Statements (continued) For The Year Ended 31 August 2025 14. Creditors: Amounts Falling Due Within One Year 2025 2024 Trade c￿dItorS Other creditors Accruals and deferred income 674 548 2,810 3,279 429 1,143 4,032 4,851 15. Pension Commitments The charity operates a defined contribution pension scheme. The assets of the scherne are held separately from those of the charity in an independently administered Fund. During the year the charge to the statement of financial activities in ￿$pert of defined contribution schemes was £2,280 12024.. £2,209). At the statement of financial p051tion date contributions of £548 12024.. £4301 were due to the fund and are included in creditors. 16. Movement in Funds Asati September 2024 Asat31 Expenditure August 2025 Income Unrestricted funds General.. General unrestritted fund Restricted funds 56,613 125,826 1118,9301 63.509 Pmjects 48,500 116,949 1103.7101 61,739 Total funds 105,113 242,775 1222,6401 125,248 Asati September 2023 Asat31 Expenditure August 2024 Income Unrestricted fund5 General.. General unrestritted fund Restricted funds 64,812 128,059 1136,2581 56,613 Pmjects 16.750 60,940 129,1901 48.500 Total funds 81,562 188,999 1165,4481 105,113 17. Transartlon$ wlth Tru$tee$ None of the trustees received any remuneratlon or any other benefits from an employment wlth the charity or a related entity during the current or previous year. No trustee expenses have been incurred. 18. Related Party Disclosures Key management personnel (including d1￿ctorS) received cO￿pensation of £75,985 12024.. £75,838) Page 15