Charity registration number 328476 Company registration number 023485561England and Wales) Mind The Gap Annual Report And Financial Statements For The Year Ended 31 March 2025
MIND THE GAP LEGAL AND ADMINISTRATIVE INFORMATION Trustees J Whaley L Carter EGee J Haines L Jones R Mason R Vvalker J Coulthard Kmir S Khadim J Saye V Robinson L Mallaghan S Moreland (Resigned 25 November 2024) (Co Chair) {Co Chairl {Resigned 23 August 2024) {Resigned 24 November 2024) (Resigned 18 September 2024} (Resigned 7 October 2024) (Appointed 25 November 2024} {Appointed 25 November 2024} (Appointed 25 November 2024} (Appointed 25 November 2024) Secretary M Thelwell Charity number 328476 Company number 02348556 Registered office Mind the Gap Studios Silk Warehouse Patent Street Bradford BD9 4SA Auditor Azets Audit Services Limited 12 lQ'ng Street Leeds LS12HL Bankers Uoyds Bank PIC 45 Hustlergate Bradford BD1 1NT
MIND THE GAP CONTENTS Page Trustees, report statement of Trustees, responsibilities 14 Independent auditor's report 15-17 Statement of financial activities 18 Balance sheet 19 statement of cash flows 20 Notes to the financial statements 21-34
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also Directors for the purposes of company law, present their annual report together with the financial statements for the year ended 31 March 2025 vthich are also prepared to meet the requirements for a Directors, report and accounts for CompaniesAct purposes. 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 Republic of Ireland {FRS 102) (effective 1 January 2019). The Legal and Administrative infomiation page forms part of this Trustees, report. Objectives and activities Mind the Gap is England's largest leaming disability and autism focused arts charty. We work locally, regionally, nationally and internationally to further the charity's aims. Vision We want to live in a world where leaming disabled and autistic people are seen. heard and represented everywhere. Where leaming disabled and autistic volS lead the way in building a more inclusive world. Mission We use art to shift power away from vthere it's been for too long. We test new creative ways of working that get rid of barriers and celebrate people for who they are. We find power in peoples, stories. We make new narratives that challenge ideas about vtho gets to do what. Mind the Gap continues to deliver a wid&ranging programme that ernbraS three key activity areas and is expressed in a succinct way as" THEATRE.. creating bold, cutting edge, world-dass perfomiance and live art events and experiences. Our approach puts learning disabled and autistic artisls at the heart of the artistic process= as performers and creatives, and in the making, devising and delivery stages. ACADEMY.. Alongside our artistic projects and productions we run our acclaimed Academy which, through a programme of different courses, nurtures and develops the talents and skills of learning- disabled creatives. COMMUNI.. Integral to the company's approach is collaboration and working in partnership with other organisations so that there is a more inclusive and accessible creative sector in which learning disabled and autistic artists can thrive. Our expanding Engagement programme, particulady focused on local communities, will play an important role in this objective over the nexi three years and beyond.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 These three key activity areas are inextricably linked and interdependent, with each strengthening and supporting the other. Mind the Gap Studios in Manningham, Bradford, provides the company wth high quality equipment and fvlly accessible facilities that are the physical hub of the organisation's operation. This is a key strength, providing eXlIent, accessible facilities through which to demonstrate the company's principles and practice. The artistic programme evolves year on year, wth a continuous focus on opportunities to develop new work, and at the same time refreshing existing work for new audiences and contexts. The activities of the charity are reviewed annually by trustees and staff who check that they are line with the charity's aims and objectives. Achievements and leaming are assessed and evaluated by trustees and staff. and achievements and learning are assessed and evaluated. This helps inform future plans. When reviewing the aims and objectives of the charity, and in planning future activities, the trustees have complied wf(h the duty in section 17 of the CharitiesAct 2011 to have due regard to public benefit guidance published by the Commission. Overview & highlights of the year In 2024125 Mind the Gap went through significant change. Lon*standing Executive Director. Julia Skelton stood down from her leadership role and departed Mind the Gap and Artistic Director, Joyce Lee left to embark on a Doctorate. Two long-serving employees from within the Company stepped into a new leadership model,. Charli Ward, formally Academy Director, became Creative Director and Maria Thelwell, formally Head of Engagement, became Executive Producer, they are both joint CEO'S. Alongside this the Company has commissioned a brand refresh, launching in September 2025. As part of the Bradford 2025 Capital of Culture year. Mind the Gap has been commissioned to make a show for The Beacon, a purposfrbuilt theatre space that moves around the Bradford District. The show opens on 17 September 2025 and sees Mind the Gap return fully to the indoor stage for the first time since the Covid 19 pandemic. Alongside these significant changes. Mind the Gap enjoyed another creatively successfvl and active year. Highlights of the year: THEATRE BIRDIE MTG completed its touring of Birdie, our street theatre show for outdoor audiences. Playing both locally in the Bradford District and across England's street festivals. this show was a huge success in drawing audiences to Mind the Gap's work wilh Learning Disabled and Autistic (LD&A) artists and the central theme of the show of climate change and what we can all do to make a difference. The show had interactive elements for children, and after every show they were invited to make a pledge of what they could do differently. INTERNATIONAL WORK- TEATR 21 Internationally, we participated in work with Poland's Teatr 21 to share skills and o>create a choreography project funded by the British Council. The project- based on Emily Bronte's Wuthering Heights, included Teatr 21 working in Bradford in 2025. A Mind the Gap team of,. Charlotte Jones and Emily Kent. Emily Blackwell and Karen Bartholomew also visited Warsaw, Poland to work on the project.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 MM 24125 was a hugely successful year for our Community Engagement Programme. We are currently in Year 2 of our National Lottery funded Reaching Communities programme. My Creative Local. Ajongside this we ran our Leap funded project-Activate- and inhabited community venues and spaces in the Manningham area. This effective outreach brought new connections and relationships for us to grow our participants, hear new stories and understand the challenges facing families wth children with learning disabilitieslautism and other intersectional barriers. We ran busy creative community hubs in local venues: Equality Together, Cartwright Hall and Bradford New Church, Frizinghall, building on our partnerships and collaborations which sit at the heart of this strand of our work. We finished the Activate project by hosting with our community partner, Bradford Stronger Together, the showing of films we made under the project title. "Little Progress.. 62 sector professionals attended and we discussed how we can work together to affect change for children and young people wth Special Educational Needs and Disabilities. This sharing event in February 2025 completed our funded work with The Leap, Bradford's Creative People and Places Programme. ONE DAY ACADEMY Our one-day academy programmes are continuing to provide high level training to LD&4 adults in theatre, dance and music. Students have the opportunity to take external workshops with other arts organisations, see shows and learn about other work as well as perfomi in their own showcase at the end of the year. INDUSTRY PATHWAYS Our new graduate programme, Industry Pathways. is designed to support our alumni students in their next steps after graduating from our Perfomiing Arts programme. It has provided several training opportunities to develop arts careers, including work placements wthin Mind the Gap, extemal workshops developing CV writing and inteNiews, plus professional opportunities in Mind the Gap's touring work. LEVEL 4 PERFORMANCE ACADEMY COURSE- NEW INTAKE OF STUDENTS FOR 2024-2027 We have successfully recruited a new cohort of students for our Level 4 perfomiing arts programme validated by York St John University. Students have been working dosely with their peers at the University exchanging skills, along with performing at dance platform FRESH atAhambra Studio, Bradford. PARTNER I'M ME, with YORK ST JOHN UNIVERSITY Mind the Gap has completed its collaborative relationship with York St John University (YSJUI led by Professor Matthew Reason, who was successful in securing an Arts & Humanities Research Council grant to explore Identify, Representation and Voice through a project called I'm Me. Seven national learning disability and autism focused organisations were involved. As part of this project Mind the Gap curated and produced a Festival in 2025 that presented the culmination of the I'm Me research. This took the form of perfOrmanS, exhibitions and presentations at York St John campus, created by the participating partners in response to the research findings. THE LEAP Consortium Mind the Gap has now ended its role as part of the Consortium group that oversees Bradford Creative People & Places project, The LEAP. BRADFORD CITY OF CULTURE 2025 We are excited that Bradford is UK City of Culture 2025 and we have been commissioned by the BD25 Programme to make a brand new piece of theatre for September 2025. Mind the Gap's Creative Director Charli Ward, led the Company through a new R+D phase in February 2025, working wth Director Rich Rusk to develop a new concept for consideration. This creative idea was successfully greenlit and is in rehearsals from June- September 2025. BRADFORD COUNCIL CAPITAL GRANT INVESTMENT Mind the Gap successfully secured a £10k Cultural Capital Grant from CBDMCIBD25 to fund a new Lighting Desk and Hearing Loop to enhance our Studio facilities. With match funding we have also been able to secure signage for the outside of the building for the first time. This has been a 1¢>year process and will support Mind the Gap with its brand refresh from September 2025. We thank all our investors for continuing to back the company and our work. This includes Arts Council England, Bradford MD Council, Calderdale Council and other local authorities, The National Lottery Reaching Communities and York St John University (thanks to Arts & Humanities Research Council investment).
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Impacts 2024125 Mind the Gap has continued to gather data so that we can evidence our achievements and impacts. This includes capturing audience figures and profile infomiation, gathering infomiation about participants, and inviting feedback through suNeys and social media. This year we have recorded the following: Theatre - including digital broadcast and online dissemination: 'A great message, with fabulous costumes- the actions of the act0 were so funny, poignant and touching- it was so visual and MindS us that you are never alone. a wonderful show with a powerful message on climate change" Birdie audience member 2024 Birdie Birdie was programmed 46 times in April-october 2024 and went on tour locally in Bradford, Keighley and then to Stockton on Tees, Hampshire, Leicester. CravAey, Holmfirth. Chester, Sundertand, Wdrrington, Birkenhead, Beverfey, Ellesmere Port, Northampton, Oxford. Darwen, Blackbum and Goole. Audience figures: 1412 adults and 2819 children Total: 4231 INDEPENDENT Mind the Gap ARTIST WORK ACE and Unlimited funding Mind the Gap Artist Jez Colbome developed his music practice working with a composer and focused on his ambitions to create a show about lighthouses. He submitted an application as an independent artist to BD is LIT, Bradford's festival of light, this year supported by Mind the Gap and fvnded by Unlimited disability commissioning agency. Jez was shoruisted and was successful, being awarded £80k to develop his show for a premier in November 2025. Jez is working with a creative team drawn from Mind the Gap's excellent pool of associated freelancers, namely Dan Mallaghan as Dramaturg and James Hezelwood as Creative Enabler. Lighthouse is Jez's own work and Mind the Gap are acting as a custodian of his funding and providing producing and project management support. Academy: . I feel completely accepted and I really enjoy going to Mind The Gap. _ Student 2024 'Everyone gets to feel important and valued-_ Parent 2024 "The Patent Street Studios are purpose built to a high standard. The building seems to bring out the best in students" Parent 2024 Our first seven Level 4 students on our Perfomiance Academy course at Mind the Gap, graduated at York Minster after three years of training, alongside students from York St John University. A huge and joyous achievement. Seven different courses from the MTG Academy continue to run. including the 4-day Performance Academy course, partner courses led by Totally Indusive People, and a Youth Academy scheme run in partnership with Bradford's SEND Short Breaks team.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Our student cohort 2024125 numbered 102 individuals, induding our CalderdaleA¢ademy satellite course, who participated with us beeen one and five days each week, over 35 weeks. The programme numbered 1,140 sessions. and delivered 13.000 attendances. Mind the Gap SHOWCASES Showcase events enabled family and friends to celebrate students. achievements and successes in 202412025. MTG Studios hosted and produced six showcases in June and July 2024, bringing audiences of 360 people. Community: "This is the first group my son has been able to asS in over the Yea following autistic buniout when he stopped being able to go to busy places. Everyone wntes childTrn with SEND off especially when they can't speak- andyou didn't." Activate project participants 2024 Supported by the National Lottery and through our community initiative, My Creative Local, Mind the Gap's Engagement team were able to record numbers for participation. Vvorking with local families and local artists we have increased our learning, experience and offer to create a year round programme that includes sessions at Mind the Gap that are free, a Youth Theatre on Saturdays. online sessions for those who are not able to attend school and sensory sessions for children and young people with more complex needs. Working with an expert evaluatorAnni Raw, we have been able to track the project through Anni's 'story gathering, methodology. IMPACT ON PARTICIPATION NUMBERS 1 } Number of sessions for LDA people, both intemally at MTG Studios and extemally in our local Creative hubs. This includes MTG Academy, My Creative Local sessions in community venues, Social Cub and Free Flow. TOTAL: 1768 2} Number of activities for young LDA people aged 24 and under. This indudes sessions as part of SENDShort Breaks, Youth Theatre, Farcliffe Family Hub, Manningham Library. Cartwright Hall, Priestley Academy Trust. TOTAL: 116 3> Number of activities for LDA young people experiencing barriers to education. This indudes Manningham Library sessions and online sessions. TOTAL: 16 4} Number of audience attendees at cultural events. in person or online. TOTAL.. 6016 5} Number of podcast audiences. TOTAL. 925 6) Number of MTG Studio Programme audiences. TOTAL. 848
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 IMPACT- NEWAUDIENCES Mind the Gap STUDIO PROGRAMME This year we have invested in staffing and infrastructure for our new Studio Hire Programme. MTG Studios offers a high spec environment for creatives needing space to R+D work (which we offer to Bradford artists for free) and also for small pieces of touring work that resonate with our aims and objectives as an organisation. In 24125 we hosted touring work and locally made initiatives. We were able to subsidise the costs of some of these events through our Reaching Communities, My Creative Local programme. One of the key aims of that work is to make theatre and live perfomiance available to our local community and for people who usually face barriers to accessing live events. We have a new dedicated member of staff who services the hire programme and has enable it to grow as part of our business and income generation. Some examples of shows we hosted and programmed: Ancient Oak of Baldor, Frozen Light Theatre Bradford International Film Festival Bar at The Edge of Time, Frozen Light Theatre Film Makers for Change Hidden Garden, Theatre Company Blah, Blah, Blah Wonderland Garden, City of London Sinfonia Crown by Kala Sangam Shivani Dance Rise and Howl Taroo Women's Stories Fundraising activities Building on previous years Mind the Gap's income generation and fundraising strategy has focused on attracting investment from several key stakeholders. These indude Arts Council England, Local Authorities like Bradford, Calderdale and Leeds and securing funding for a 3-year programme called My Creative Local through The National Lottery Reaching Communities fund. It has been evident this year that grant makers and donors are facing immense demand for their resources. Working with previous Executive Director, Julia Skelton as a dedicated freelance extemal fundraiser, Mind the Gap has submitted detailed applications to a number of key funders. One of these national funders reported that they had received applications to a total of over £90 million in value, with only a relatively small pot of funding available at £6 million. We were not successful and it only highlighted the deep level competition in the arts sector. Additionally. while some funders (e.g. local authorities) are applying inflationary increases to some areas of income, this is still not keeping pace with rapidly rising costs e.g. salaries and overheads. This makes for a challenging economic dimate and creates uncertainty for the future. Imiile Mind the Gap remains optimistic our high quality work will attract investment. we are planning for the future with some additional caution around income targets and success rates. Arts Council England {ACE) provided core investment via the National Portfolio Programme (NPO) of £310,864. Bradford MD Council invested £61,360 in our work through the Arts Investment Programme and other Fyoject grants- which while valued and essential, is significandy less than previous years.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 We have continued to invest unrestricted reserves in the development of local creative engagement work, to strengthen our community focused work and positioning for future funding and collaboration opportunities. This enabled us to secure the National Lottery Reaching Communities three-year funding for My Creative Local and will support us to reapply to the funding programme in 2026 for a further three years from 2027- 2030. Mind the Gap is grateful to all its investors - large and small - for their support this year. Fundraising in the current dimate continues to be challenging. While Mind the Gap's successful track record puts the charity in a strong position to attract investment. we know competition for scarce resources will be fierce in the coming year and beyond. As one of Bradford's longest established arts organisations. we are pleased to have been greenlit for our new show for the Bradford Capital of Culture Programme in 2025. The process was kick started in February 2025 when we secured £5k from BD25 to develop a new idea for consideration by the BD25 team and have now secured £150k for our production The Invite. As part of the BD25 year of Culture we also secured an award of £27,450 for a Social Prescribing project called Mindful Manningham. This project is an extension of our community-based initiative, My Creative Local. We would not have been able to make such a successfvl application rf we hadn't had investment over the last two years from The LEAP and The National Lottery. Reaching Communities Fund. These programmes gave us the basis to be able to show our expertise in connecting wth local families and being able to provide high quality creative experiences. Mind the Gap continues to foster European connections and has recently completed a partnership piece of work funded by The British Council with Polish company Teatr 21. Our successful Academy programme generates substantial income through the fees paid by participants through Individual Budgets and Direct Payments. We need cross-subsidy in addition to fees income to develop and thrive. We know that adult social care budgets are already under extreme pressures, we work collaboratively with local authority partners and other investors to ensure our work remains relevant. impactful and sustainable. We have successfully increased earned income this year through our MTG Studio Programme. This has been supported by one of our PAYE staff entering a secondment within Mind the Gap to become an Events and Operations Co-ordinator, whereby they can spend dedicated time growing our space hire programme and working outside regular office hours to service the bookings and hires. We hope to see the hire programme increase as we raise our profile through our new brand, new website and new show in 2025. Mind the Gap does not hold material investments. Mind the Gap occasionally seeks and receives individual donations to support our work, usually through project campaigns, and our ongoing individual giving programme. We stn've to achieve the highest standard fundraising standards and value our supportive funders and donors. We stay up to date with charity regulations, data protection and the Fundraising Preference Service (FPS) to make sure we are legally compliant and adhering to all guidelines and best practi.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Financial review The charity manages a complex financial portfolio of grants, commissions, donations and earned income in order to deliver its artistic programme and meet its charitable objectives. The company works to a written business plan spanning three years that is updated annually. The company's Business Plan is underpinned by 3 financial aims.. 1. Income diredy benefits MTG artistic programme. goals and audiences. 2. Making strong and sustainable relationships with stakeholders from diverse sources.. public, lottery, private, corporate and individual sectors. 3. Reducing reliance on a¢>hoc funding by generating sustainable income streams and longer-tem investment by stakeholders. Mind the Gap's main sources of income are.. Arts Council England (ACE) National Portfolio Organisation {NPO) and earned income through MTG Academy Servi$. Mind the Gap is also eligible for and has daimed rebate income totaling £25.907 through HMRC'S Theatre Tax Relief scheme. The charity has successfully negotiated this year's many finanaal challenges. remaining financially sustainable, and sowing seeds for investment towards future activities. The Statement of Financial Activities shows net movement in funds for the year of £238,561 (2024= incoming £144,888) and total reserves of £383.578 (2024.. £622,139). The trustees have established a written Resenies Policy to ensure the stabilty of the mission, programmes, employment and ongoing operations of the charity. The target minimum reserves policy is equal to three-months average operating costs. The Reserve Policy value includes all recurring. predictable expenses such as salaries and benefits, core artists, administration and overheads, ongoing professional services. The Reserves target is currently £180,000. The trustees refer to this as the Board Designated Operating Reserve. The free reseNes at 31 March 2025 were £335,088 (2024: £359,641) which is currently above this amount.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 PLANS FOR FUTURE PERIODS Mind the Gap looks forward to another busy and productive year in 2025126. Currently, our priorities indude= The Joint CEO'S will continue to work together to ensure that Mind the Gap is a robust, well-fvnded and great place to work by investing in specialist fundraising support and CPD training for staff. The Creative team at Mind the Gap, led by Creative Director. Charli Ward y11 apply for legacy funding to tour The Invite from 2026- 2027. The refresh and rebrand of Mind the Gap brings an opportunity to tell our story differently to the worfd. We will r&apply for further fvnding to cary on the vitsl work we have begun in understanding our local community and the challenges it fa$. This fvnding would continue the work from 2027-2030. We believe that we are training artists for careers in theArts and Y11 continue to support them with everything they need to do their best work and change how people view who makes art in the UK. In November 2024 Mind the Gap appointed environmental sustainability good practice expert Jamie Saye to the Board. This is already having a positive impact. with Jamie supporting Mind the Gap to update our Environmental Policy. Jamie Saye is also now working with our Creative Producer and together they have convened a group from MTG staff to update our environmental action plan as a focus group activity. Key staff have now completed online training with SAIL (Jamie Saye's non-profit organisation that support the creative industries in environmental sustainability). MTG continues to use the Environmental Green Book, and our Creative PrOdur was involved in the Green Book steering group in Autumn 2024. Mind the Gap will continue to collect data and upload information via the Julie's Bicycle portal. Mind the Gap offers learning in Bradford that is unique, trusted and most important of all accessible and high quality. Students return to us every year to leam more, and parents, carers and individuals feel safe and supported when accessing our training. All of our work is centred around equality of opportunity. We tell stories that don't normally get heard and those stories are told by the people who experience them. We offer talent development in Bradford that is renowned nationally and make theatre that connects with local audiences and nationally resonates. Our Level 4 course is the only one of its kind in the UK. We hear from our students, participants and their families that working wth us improves mental health as people who come to MTG Studios feel listened to and seen, they can leam, express themselves and find talents within themselves that boost their mental health and have a direct impact on their lives. In the last 12 months we have provided free sensory play and art workshops for children and families in our local area. The sessions have included the whole family and are designed to create spaces where children and young people feel accepted and parents can observe orjoin in. We have responded to what we have heard and constantly adapt what we do to meet the needs of our community led partnerships. We have made a big effort in the last 12 months to actively seek out and employ local freelance artists with lived experience and who identify as neurodivergent. This has brought Mind the Gap a really rich experien in learning how to make our staff team and our company processes accessible for everyone. We strive to be an inclusive employer and have rolled out Access Riders for staff and actively encourage colleagues to use this technique to let us know how we can support them to do their best work.
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management The charity is constituted as a company limited by guarantee, and is therefore govemed by a Memorandum and Articles of Association. In 2025 we are exploring becoming a Charitable Incorporated Organisation (CIO) which wll enable us to leave behind some of the original and outdated language in our Memorandum from 1988. All the directors of the company are also trustees of the charity. and there are no other trustees. The trustees who served during the year are set out on the Legal and Administration information page. In accordance with the Articles of Association one third of the trustees will retire by rotation at the annual general meeting, and where eligible, may offer themselves for re-election. Nine directors served for all or part of the year on the Board. bringing a wide range of skills and expertise including knoedge of finance, business development. marketing and social services sectors as well as creative arts, equalities, diversity & indusion. In 2024125 the charity saw some significant changes in the stsff structure at Mind the Gap. Julia Skelton and Joyce Nga Yu Lee made separate decisions to leave their roles of Executive Director and Artistic Director after 27 and 14 years respectively. They stepped down from these roles in mid-November 2024 to pursue new ventures. As part of this succession planning process Mind the Gap has undertaken a very detailed analysis of company needs and explored different ways about how best to meet them. The Board considered several key factors alongside deciding the best model for the future, induding using current staff skills and experien, protecting incumbent staff jobsl avoiding redundancies as far as possible. and priorities for future work. After looking at different options, the Board decided to pursue a new o>leadership model drawing on the skills, knowledge and expertise of existing senior staff. This is based on two new full-time roles of Creative Director and Executive Producer working in collaboration. As a culmination of this process Charfi Vwdrd is now Creative Director, working in collaboration with Maria Thelwell as Executive Producer. Lesley Davis continues in the role of Finance Manager to provide continuity in financial management. Trustee Induction and Training New directors are recruited through open recnjitment, networking and invitation, and are elected at Board meetings in accordance with the charity's Memorandum and Artides ofAssociation. There is a comprehensive induction process and written infomiation for new members. Training is provided where required. All trustees give their time voluntarily. Any expenses redaimed by trustees from the charity are set out in note 9 to the accounts. Mind the Gap saw significant change in its Board of Directors in 2024. Two parent representatives left the Board mid-year for different reasons related to family commitment and health. At the November AGM three long setving Board members resigned after many years of service. After a sucSsful recruitment campaign four new Trustees with expertise in arts, sustainabilty, health, social care and communities joined the Board at the sameAGM in November 2024. 10-
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Organisational structure The Board meets five times each year to review the work of the company, discuss relevant issues and agree actions for the next phase. Staff members and leaming-disabled representatives from supported employment and training programmes make reports to the Directors to inform decision-making prosses. The Board entrusts senior staff with responsibility to ensure that decisions are implemented, and directors (particularly the Cochairs) provide support, advice and direction as required between meetings. The Co-chair arrangements have been embedded since 2022123, wth the positions currently held by Lynne Carter and Emma Gee. The charity continues to review and develop its ways of working to be accessible and inclusive for people from different backgrounds. Our current priority is to effectively embed our new board members, and continue to grow our team to indude new people wth different expertise and lived experiences. Three action groups support the work of the Board. made up of Trustees and relevant staff members. induding learning disabled and autistic team members. The Money & PartnersAction Group meets 2-3 times each year alongside regular Ordinary Meetings. This group scrutinises the ongoing financial health of the organisation. tests financial assumptions and monitors the relationship between income and expenditure. Members provide support and ideas to ensure the charity's fundraising strategy is robust and viable. The People & Home Action Group meets 2-3 times each year providing practical support and advice on key issues relating io people and resource matters. It reviews key policies induding Health & Safety, Safeguarding and Equal Opportunities, as well as providing support and scrutiny on specific HR issues. The Art, Audiences & Reputation Action Group is now in its third year of operation. This creates space for Board members to contribute to discussions and decisions relating to artistic policy. Working with the Creative Director and members of the Artists, ensemble this new group will help shape future artistic programme plans. This action-group structure helps to ensure that all directors are able to use their expertise and knowledge to support the work of the charity. They are supported by input from time to time by ctFopted strategi¢ advisers. Mind the Gap is committed to supporting individual artists to pursue their own artistic goals, as well as performing in productions created by the company. We continue to involve learning-disabled company members in decision making and planning as well as delivery through regular meelings, discussions, and representation as officers at Board meetings. We continue to develop our volunteer neOrk and are currently supported by a team of around 12 active volunteers. Mind the Gap is grateful to all volunteers for the skills and support they so willingly bring to the charity. The company also commissions additional artists and prOdUrS to maintain and strengthen the company's reputation for creating bold, innovative and exating work. We continue to grow our neork of Associate Artists, both learnindisabled and non-leamindisabled, to ensure that the company remains at the forefront of pioneering artistic practice. 11
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Pay policy for senior staff The pay of the charity's key personnel is reviewed annually. Up to 2023124 Mind the Gap voluntarily aligned its salary review policy and practice wth the grading scale of the National Joint Council (NJC). However, it was not financially prudent for the charity to maintain strict adherence to this, because of rapid and significant rises in wages inflation. So, while NJC grading scale rates were adopted, this was not implemented until December 2023. rather than at the start of the financial year in April. The Money & PartnersAction Group met and undertook a detailed review of salary policy, and the Board agreed that from 2024125 Mind the Gap will decouple from the NJC grading scale. In future, any decisions about salary increases for senior and other staff will be made based on prevailing market conditions and affordability. Board and senior staff will take into account extemal indicators like the Retail Prices Index (RPI) and bench-mark company wages with charities of a similar size and activity. This will ensure that the remuneration is fair and in line with what is generally paid for similar roles. This will enable the Board to agree any pay increases at the start of the financial year. Risk Management The directors actively review the financial risks that the charity faces annually at the regular ordinary meetings and the sub-groups, meetings, induding the ongoing and future funding of the organisation. A written Risk Register document that summarises key risks is regularly reviewed by the Executive Producer and Creative Director and updated quarterly by the Money & Partners Action Group. Key risks include: UK'S theatre sector remains in a financially fragile state. which is creats'ng uncertainties around programming, funding and staffing models. This means medium and long-lemi planning is more challenging, as venues and touring companies endeavour to remain solvent, and anticipate future trends. Local authorities face extreme financial pressures. and there is a threat that some areas of work induding arts and culture investment may be reduced or cut, so that funds can be deployed in other essential services. This means our Academy and creative engagement activities ¥MII need to attract and support those who may be at particular risk of being marginalised from mainstream activities. Making the case for cross subsidy investment to support the core functions of the Charity (overhead staff, space, running costs) is essential for the programmes to run sustainably. The fundraising environment is extremely competitive with many organisations competing for scarce resources. Future investment strategy wll need to negotiate this context. Mind the Gap will continue to adapt and flex its programme plans to meet changing needs and demands. The directors confimi that they have developed systems to monitor and control these risks, and one of the functions of the Action Groups is to provide scrutiny and support around any issues that might arise. Funds Held as Custodian Trustee In 2024-25, Mind the Gap acted as Custodian Twstee for fvnding awards to support artistic activities for learning disabled artists. This included income from Arts Council England (ACE), and Bradford 2025 and Unlimited. The artists for whom the charity acted as Custodian Trustee in the year were= Alan Clay (ACE- In Mind), JoAnne Haines (Dancing with Coloursl, Jez Colborne (DYCP- Lighthouse Project). The total value of the income on these awards in the year was £34,583 (2024.. £31,283) and the total amount held for these awards at the year end was £19,224 {2024= £15.279). The safe custody and segregation of this income and the relevant expenditure was achieved by creating a separate 'dass' (project) in the computerised book-keeping system so that all income and expenditure can be dearly a¢¢ounted for and audited. 12-
MIND THE GAP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Disclosure of information to auditor Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. Auditors In accordance with the company's artides, a resolution proposing that Azets Audit Services Limited be reappointed as auditor of the company wll be put at a General Meeting. Small company rules This report has been prepared in accordance with the special provisions of Part 15 of the CompaniesAct 2006 relating to small companies. It was approved by the Board of Trustees and signed on its behalf by.. LAG L Carter C(>Chair ofTrustees Dated= 0911012025 13-
MIND THE GAP STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees, who are also the directors of Mind the Gap for the purpose of company law, are reswnsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of reSoUrs, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to= select suitable accounting policies and then apply them consistenljy., observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent" and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial ststements comply wth 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 deteth'on of fraud and other irregularrties. 14-
MIND THE GAP INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MIND THE GAP Opinion We have audited the financial statements of Mind the Gap (the'charity.) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounb'ng Practice). In our opinion, the financial statements- give a twe and fair view of the state of the charitsble company's affairs as at 31 March 2025 and of its income and expenditure, for the year then ended- have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordan wth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK}l and applicable law. Our responsibilities under those standards are further described in the Auditoffs rpsponsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have conduded that the Trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material UnrtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the finanaal statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information induded in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent othemise explicitly stated in our report, we do not express any form of assurance condusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knoedge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we condude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees, report for the financial year for which the financial statements are prepared, which indudes the directors, report prepared for the purposes of company law, is consistent with the financial statements- and the directors, report induded within the Trustees, report has been prepared in accordance with applicable legal requirements. 15-
MIND THE GAP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MIND THE GAP Matters on which we are reqUId to port by exception In the light of the knowledge and understanding of the charity and its environment obtsined in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the folloKfjng matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns- or rtain disclosures of trustees, remuneration specified by law are not made" or we have not received all the information and explanations we require for our audit,. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement lo prepare a strategic reporL Responsibilities of Trustees for the financial statements As explained more fully in the statement of Trustees. responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the preparation of financial stalements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concem, disdosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS {UK} will always detect a matenal misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our auditoff s report. 16-
MIND THE GAP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF MIND THE GAP Extent to which the audit was conSided capable of detecting irgUIaritie$, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above and on the Finanaal Reporting Council's website, to detect material misstatements in respect of iegUlar1ties, induding fraud. We obtain and update our understanding of the entity, rts activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding. we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropnate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, induding fraud. In response to the risk of irregularities and non-compliance wth labvs and regulations. including fraud. we designed procedures which included.. Enquiry of management and those charged wth governance around actual and potential litigation and claims as well as actual. suspected and alleged fraud- Reviewing minutes of meetings of those charged wth govemance; Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection- Reviewing financial statement disdosures and testing to supporting documentstion to assess compliance with applicable laws and regulations., Performing audit work over the nsk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness. evaluating the business rationale of significant transactions outside the nomial course of business and reviewing accounting estimates for indicators of potential bias., Performing audit work over the timing and recognition of income and in particular whether it has been recorded in the correct accounting period. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the CompaniesAct 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Jessica Lawrence (Senior Statutory Auditorl for and on behalf of Azets Audit Services Limited 13/1012025 Chartered Accountants ststutory Auditor 12 King Street Leeds LS12HL 17-
MIND THE GAP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Total 2025 2024 Notes Donations and non-performance grants Charitable activities Investments Other income 7.414 689.134 8.138 71.723 7,414 967,337 8,138 71,723 14,959 1,827,942 8,327 116,184 278,203 Total income 776.409 278,203 1,054,612 1,967,412 Charitable activities 794,508 498,665 1,293,173 1,822,524 Net incomingl(outgoing) for the year (18,099) (220,462) (238,561) 144,888 Other recognised gains and losses Other gains or losses 12 (2) Net movement in funds (18,099) (220,462) (238,561) 144,886 Fund balances at 1 April 2024 375,939 246,200 622,139 477,253 Fund balances at 31 March 2025 357,840 25,738 383,578 622,139 The statement of financial activities also complies with the qUirementS for an income and expenditure account under the CompaniesAct 2006. The statement of financial activities indudes all gains and losses recognised in the year. The notes on pages 19 - 34 form part of these financial statemens. A fully detailed Statement of Financial Activities for the year ending 31 March 2024 is shown at note 22. All income and expenditure derive from continuing activities. 18-
MIND THE GAP BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 13 21,523 16,298 Current assets Debtors Cash at bank and in hand 14 94,729 394.127 121,744 628,682 488.856 750,426 Creditors: amounts falling due within one year 15 (126,801) (144,585) Net current assets 362,055 605,841 Total assets less current liabilities 383.578 622,139 Funds of the charity Restricted funds Unrestricted funds 19 25.738 357.840 246,200 375,939 383,578 622,139 The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial statements are prepared in accordance V*ith the special provisions of Part 15 of Companies Act relating to small companies and constitute the annual accounts required by the CompaniesAct 2006 and are for the circulation to members of the company. They were approved by the board of Trustees on 0911012025 and signed on its behalf by.. LAGkn L Carter Co-chair Company Registration No. 02348556 19-
MIND THE GAP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash (absorbed by)Igenerated from operations 21 {223,700) 145,794 Investing activities Purchase of tangible fixed assets Proceeds on disposal of tangible fixed assets Investment income received (19,219) (1,450) 226 8,138 8,327 Net cash (used in)Igenerated from investing activities (10.855) 6,877 Net {decreasellincrease in cash and cash equivalents (234.555) 152,671 Cash and cash equivalents at beginning of year 628.682 476,011 Cash and cash equivalents at end of year 394.127 628,682 -20-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies The principal accounting policies adopted, judgements and key sour$ of estimation UnrtaInty in the preparation of the financial statements are as follows.. Charity infomiation Mind the Gap is a private company limited by guarantee incorporated in England and Wales. The registered office is Mind the Gap Studios, Silk Warehouse, Patent Street, Bradford, BD9 4SA. Each member of the company has undertaken to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while helshelthey are a member, or within one year after helshelthey cease to be a member. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Memorandum and ArtiCS of Association, the Companies Act 2006 and "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 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the fvnctional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention, modified to include rtain financial instruments at fair value. The principal accounts-ng policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtheran of their charitable objectives. Restricted funds are subject to specific Conditions by donors as to how they may be used. The purwses and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income wll be received. Cash donations are recognised on reipt. Other donations are recognised once the charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation. Government and other grants are recognised in full in the statement of financial activities in the period in which they are receivable. 21
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured relialjy. Expenditure is dassified under the following activity headings.. Charitable expenditure.. comprises those costs incurred by the charity in the deliverance of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them. Support Costs.- are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back Offi costs. finance, personnel, payroll and governance costs which support the Trust's activities. These costs have been allocated beeen cost of raising funds and expenditure on charitable activities. The basis on which support cosls have been allocated are set out in note 8. All costs are allocated beeen the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportijned on an appropriate basis as set out in notes 7 and 8. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings Computers 250kn Reducing balance or 250A straight line 330kn Reducing balance or 330A straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. Individual fixed assets costing £500 or more are capitalised. 1.7 Impairnient of fixed assets At each reporting end date, the charity reviews the carrying amounts of tts tangible assets to determine whether there is any indication that those assets have suffered an impainnent loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which indude debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Impairment of financial assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objecb've evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the differen between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in net incomel{expenditure) for the year. If there is a decrease in the impaimient loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net incomel(expenditure) for the year. DeCognItion of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third paty. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangemenl constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities dassified as payable within one year are not amortised. Debt instruments are subsequenlly Carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or ServIS that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. -23-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued 1.10 Taxation The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Fi nance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the CorF)oration Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. The charity benefits significantly from Theatre Tax Credit taxation reliets based on the eligible production costs incurred. The calculation of the tax credit involves significant uncertainties and it is not wssible to apply a reasonable point estimate based on historic agreements with tax authorities. Therefore the Trustees only recognise any potential tax rebate on an accruals basis once the amount is measurable and known. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.13 Leases Rentals payable under operating leases, including any lease inntiveS reived, are charged as an expense on a straight line basis over the term of the relevant lease. 1.14 Custodian Funds Funds held by the charity as a custodian trustee are exduded from the income and expenditure of the charity and the balance held recognised as a liability within the financial statements. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Twstees are required to make judgeMt$, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects (lY that period, or in the period of the revision and future periods where the revision affects both current and future periods. The Trustees are of the opinion that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carying amount of assets and liabilities. -24-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donations and non-perfomiance grants unstrICted Restricted funds funds Total Unrestricted Restricted funds funds Total 2025 2025 2025 2024 2024 2024 Donations and gifts Donations Other 14,959 14,959 7,414 7,414 7.414 7,414 14,959 14,959 The Charity benefits greatly from the involvement and enthusiastic support of a number of volunteers, details of which are given in our annual report. In accordance with FRS102 the economic contribution of volunteers is not recognised in the accounts. -25-
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MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Investments UnstriCted Unrestricted funds funds 2025 2024 Interest receivable 8,138 8,327 Other income unStriCted Restricted funds funds Total Unrestricted Restricted funds funds Total 2025 2025 2025 2024 2024 2024 Net gain on disposal of tangible fixed assets Other income 226 71,497 226 71,497 116,184 116,184 71,723 71,723 116,184 116,184 Other income includes £25,907 (2024: £39,842) relating to Theatre Tax Relief daims. Charitsble activities 2025 2024 staff costs Depreciation Direct production costs Premises costs and insurance General administration Travel, accommodation and subsistence Marketing Artists and freelance costs LEAP Award payments 686,402 13,994 12,242 60,981 50,692 21,311 47.123 163.783 90.232 822,836 12,169 33,094 60,268 45,631 31,755 61,491 131,596 476.074 1,146.760 1,674.914 Share of support costs (see note 8) Share of governance costs (see note 8) 131.524 14.889 138.260 9.350 Total expenditure on charitable activities 1,293.173 1,822.524 -27-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Govemance Total 2025 costs costs 2025 2025 Support Govemance Total 2024 costs costs 2024 2024 Staff costs Premises costs and insurance General administration Professional fees Bank charges Audit fees Accountancy 100,789 100,789 101,005 101,005 15,246 12,673 2,420 396 15,246 12.673 2,420 396 12,469 2,420 20,089 12,768 4,040 358 20,089 12,768 4,040 358 7,250 2,100 12,469 2,420 7,250 2,100 131,524 14,889 146,413 138,260 9,350 147,610 Trustees JoAnna Haines, a Twstee of the charity, did not receive a salary in the year for temporary employement 12024.. £2,400). 10 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number 35 41 Employment costs 2025 2024 Wages and salaries Social security costs other pension costs 711,490 60,629 15,617 835,360 70,825 17,656 787,736 923,841 No employee eamed £60,000 or more during the year {2024: no employee). The key management personnel of Mind the Gap are the Executive Director, Artistic Director, Finance Manager, Creative Director and Executive Producer. The total employee benefits of the key management personnel of the charity were £203,522 (2024.. £196,927). Key management personnel of the Exective Director & Artisitic Director both left the charity in November 2024. The Creative Director and Executive Producer have been appointed as the new CleaderShIpS to replace the departures. -28-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Other gains or losses Unrestricted Unrestricted funds funds 2025 2024 Foreign exchange losses 13 Tangible fixed assets Fixtures and rIng5 Computers Total Cost At 1 April 2024 Additions 337.929 221,583 19,219 559.512 19.219 At 31 March 2025 337.929 240.802 578.731 Depreciation and impairnient At 1 April 2024 Depreciation charged in the year 325.371 7.306 217,843 6,688 543,214 13,994 At 31 March 2025 332,677 224,531 557,208 Carrying amount At 31 March 2025 5,252 16,271 21,523 At 31 March 2024 12,558 3,740 16,298 14 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 42,213 52,516 55,973 65,771 94,729 121,744 -29-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Creditors: amounts falling due within one year 2025 2024 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 18,026 15,156 34,783 19,224 39,612 20,332 47,575 18.913 15,279 42.486 16 126,801 144.585 In 2024-25 Mind the Gap acted as Custodian Trustee for ftjnding awards to support artistic activities for learning disabled artists. This included income from Arts Council England (ACE). The artists for whom the charity acted as Custodian Trustee in the year were= Joanne Haines (Dancing With Coloursl and Jeremy Colborne {DYCP - Lighthouse Project). The total value of the income on these awards in the year was £34,58312024.' £31,283) and the total amount held for these awards at the year end was £19,224 (2024.. £15,279) was induded within other creditors. 16 Deferd Income 2025 2024 Brought forward Released in the year Deferred in the year 47,575 {47,575) 15,156 15,219 (15,219) 47,575 Carried forward 15,156 47,575 17 Operating lease commitments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows= 2025 2024 Within one year Between two and five years In over five years 14,094 54,752 35,729 13,995 54,627 49,299 104,575 117,921 18 Related party transactions In the year, Dan Mallaghan (partner of Lisa Mallaghan) received remuneration for employment with the charity of £3,500 {2024= £nil). Dan Mallaghan also incurred expenditure to the charity of £300 (2024.. £nil) relating to the Lighthouse project and £5012024.. £nil) for the loan of a projector. -30-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds The income funds of the charity indude restricted funds comprising the following unexpended balarKes of donations and grants held on trust for specific purposes.. Movement in funds Income Expenditure Balance at 1 April 2024 Movement in funds Income Expenditure Balance at 1 April 2023 Balance at 31 March 2025 Academy Fund Capital assets The LEAP Collaborative Touring Network Historic England- Manningham Stories Transforming Leadership My Creative Local Activate I'm Me The Clore Fellowship BD25 Deviance Freefall - British Council 30,000 (30.000) (386) 59.259 743,935 (593.385) 209.809 30.000 (30,000) (8721 30.348 (240,157) (872) 3,429 8,820 (12,249) 319 1,028 3,500 7,552 17,292 18,529 48,277 10,000 (3,819) (7,500) 1,080 (7,537) 9,755 (14,050) 4,479 (27,200) 21,077 (10,000) 1,888 12,968) 113,339 {115,266) 26,543 (30,7641 31,085 (36,3491 7,828 258 15,813 25,000 20,000 (22,289) (20,000) 2,711 64.421 887,905 (706.126) 246.200 278.203 (498,665) 25.738 Purposes of restricted funds: Academy The fund was set up in 2002103 to run the annual vocational training programme for adults with a learning disability. In the current year it indudes funding from the following source.. City of Bradford Metropolitan District Council. Capital Assets Mind the Gap has previously received funds to purchase capital items to ftjrther the work of the charity from investors induding Arts Council England, ERDF, ESF, the Clothworkers Foundation and the Garfield Weston Trust. This fund represents the value of undepreciated assets. Collaborative Touring Network This fund was set up in 2022123 to run Mind the Gap's involvement in this national touring initialve. In this year it includes funding from the following source= The Old Courts (lead partner). Manningham Stories This fund was set up to in 2022123 to run a creative engagement project exploring hidden stories in the local area, and to create a unique place marker to cdebrate these. In this year it indudes fvnding from the following source.. Historic England. 31
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Restricted funds (Continued The Leap This fund was set up in 2020121 to record income and expenditure connected with this Consortium project. led by Bradford Teaching Hospitals NHS Foundation Trust (the NHS Trust). The Leap project's overall budget IS managed by the NHS Trust, who re1ve all income on behalf of the project, induding grant funds from the majority stakeholder Arts Council England Creative People & Places programme. MTG is a Consortium member, and the charity's responsibilities include the employment of The Leap project staff, and the dissemination of funds to other organisations, as determined by agreed application processes and procedures. The funds managed by MTG on behalf of the project as shown in these accounts have been received from the NHS Trust Transforming Leadership This fund was set up in 2022123 to participate in a nationally significant project that aims to reshape England's cultural leadership to indude learning disabled and autistic voices. In this year it includes funding from the following source.. Access All Areas (lead partner). y Creative Local This fund was set up in 2023124 to run a creative engagement programme in collaboration with local communities and artistic partners in Manningham, Bradford. In this year it indudes funding from the following source.. The National Lottery Reaching Communities. Activate This fund was set up in 2023124 to run a creative engagement programme in collaboration wth Bradford's Creative People & Places project The Leap. This involves local communities and artistic partners in Manningham, Bradford. In this year it includes funding from the following source= The Leap PioneerAwards. I'm Me I'm Me is a large and complex project. the project is fvnded by the Arts and Humanities Research Council and the lead researcher is Professor Matthew Reason (York St John University). Mind the Gap are the project's core partner. I'm Me will work with learning disabled and autistic artists as peer and creative researchers to explore questions of identity, representation and voice. BD25 R+D phase 1 April-July 2024- Deviance Deviance is phase 1 of a Research and Development (R+D) project for the commissioning prgramme at Bradford's Capital of Culture 2025. Funding has been provided to test ideas and work with creatives in set design, lighting, audio and costume to bring to life ideas from Mlnd the Gap's artists ensemble with Artistic Director Joyce Lee. BD25 R+D phase 2 January-February 2025- The Invite The Invite is phase 2 of a Research and Development (R+D) project for the commissioning programme at Bradford's Capital of Culture 2025. Funding has been provided to test ideas and work with creatives in set design, lighling, audio and costume to bring to lrfe ideas from Mlnd the Gap's artists ensemble with Creative Director Charli Ward and Director Rich Rus British Council + Teatr 21 Project- Cathy...A Modern Manifesto A research-based, scoping exercise to discover the viability of a c(>¢reated project beeen Mind the Gap IMTG) and Teatr21 (T21) induding an artist exchange at MTG and T21 to begin to establish partnerships and connections with each other's organisation and their local community. This involves artist exchange workshops, visits around each other's community and notable cultural sites. and workshops with local community groups including the diasporic Polish Mmunity in in Bradford. Each travelling team will be an inclusive team of 2-3 people including artist with leaming disabilities. Each residency will be enhanced by the company's local artistic staff or freelance artists. -32-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Analysis of net assets between funds unstrICted Restricted Funds funds 2025 2025 Total Unrestricted Restricted Funds funds 2024 2024 Total 2025 2024 Fund balances at 31 March 2025 are represented by.. Tangible assets Current assetsl(liabilities) 21,523 336,317 21,523 362,055 16,298 359,641 16,298 605,841 25,738 246,200 357,840 25,738 383,578 375,939 246,200 622,139 21 Cash generated from operations 2025 2024 (Deficit)Isurplus for the year (238,561) 144.888 Adjustments for: Investment income Foreign exchange losses Profit on disposal of tangible fixed assets Depreciation of tangible fixed assets (8,138) (8.327) (2) (2261 13,994 12,169 Movements in working capital: Decrease in debtors (Decrease) in creditors 27,015 117,7841 12,673 (15,607) Cash (absorbed by)Igenerated from operations 1223,700) 145,794 The charity had no debt during the Current or prior year. -33-
MIND THE GAP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Comparative Statement of Financial Activities Unrestricted Restricted funds funds Total 2024 Donations and gifts Charitable activities Investments Other income 14,959 940,037 8,327 116,184 14,959 1,827,942 8,327 116,184 887,905 Total income 1.079.507 887,905 1,967.412 Charitable activities 1,116,398 706,126 1,822,524 Net <outgoing)lincoming resources Other gains or losses (36,891) {2) 181,779 144,888 (2) Net movement in funds (36,893) 181,779 144,886 Fund balances at 1 April 2023 412.832 64,421 477,253 Fund balances at 31 March 2024 375,939 246,200 622.139