WRITING EAST MIDLANDS C.I.C.

Company limited by guarantee

Company Registration Number:
06459299 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

WRITING EAST MIDLANDS C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WRITING EAST MIDLANDS C.I.C.

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

Artistic Programme These accounts represent the fifteenth year of trading for Writing East Midlands and eighth period since converting to Community Interest Company status in support of the organisation's artistic aims and social values. We believe in an open society which for us means equality of access to the means of creativity, the arts, and expression. WEM works to build the region's reputation for the quality and diversity of its writers and as a place where writing is valued as an art and for its social impact. We run programmes that raise the skills and aspirations of writers connecting them to communities. We aim to be the place in the East Midlands, where people exchange ideas for working in the literature sector knowing we can connect them with partners among organisations, artists, producers, local authorities, schools, universities, museums, libraries, heritage organisations, and the health sector. 2023 - 24 saw the organisation continue to recover from the effects that the Covid crisis had on its operations and audience behaviours. The effects of the cost-of-living crisis and how this affected disposable incomes have also had an impact. We had decided to move away from the delivery of short courses in the previous period meaning more emphasis being placed on the raising of income through project activity. The risks were of competition in the public and private grants space for available funding which, in many cases, was aimed at alleviating the immediate life requirements of a population increasingly suffering around poverty and deprivation lines. We saw the building up of social pressures likely to lead to more community polarisation and the unrest that tends to mark economic downturns. This influenced our strategy of moving away from seeking smaller grants, and towards larger funding for projects with a high degree of intersectionality lending themselves to the internal diversity and inclusivity which is necessary to our values. This was also made possible by the increase in core funding from ACE, gained in the previous year, which uplifted from £128,000 to £198,000 to 2027. WEM was better able to pursue innovative initiatives for social good at a time when social and economic pressures were increasing. WEM continued to contribute to ACE's Let's Create strategy through its core activity which provides mentoring programmes, learning activities, workshops, conferences, residencies, and agency and publishing activities for emerging and established writers. We are delighted to confirm £460,548 of new funds generated within the period which will be applied to activity between 2024 - 2027. These are for collaborating with autistic people in Beyond the Spectrum (£262,098 from ACE, £148,450 from The National Lottery Reaching Communities Fund, and £49,410 from Lincolnshire Shine Fund). The project, which began with a small National Lottery grant of £10,000 in 2019-20, will now progress to a national project bringing together many partners from arts, social service, and NHS sectors, in a new creative network enabling WEM to take an intersectional approach to diversity. This will be important to our development as ideas of inclusivity and diversity become more nuanced, and we move closer to our aim of becoming experts in the field of using arts for social benefit. Although the bulk of our organisational developmental activity in the period was focussed around working with neurodiversity and well-being, we continued with other core activities. Smaller funds were gained from Magna Vitae (£5,000), Shine Lincolnshire (£9,965), ALCS (£3,500) and Amazon (£7,000) for work respectively with transient Lincolnshire coastal communities, Surviving by Storytelling in Lincolnshire, emerging writers across the region, and children and young people in Levelling Up areas. We continued to lead and collaborate on projects which satisfied our aims to work with diverse groups of children and young people, particularly in areas of lesser provision. The partnership with the young person's charity Eastside continued. It delivered Spoken Word Power (SWP) in the East Midlands connecting students with leading poets to encourage self-expression and confidence. Sadly, the lead organisation was not able to secure funding for 2024 - 25 which means that we will seek funding to run a similar initiative independently as there is much demand for the activity across Lincolnshire. Our WEMterns programme, which supports 18-25-year-old writers taking the first steps in their writing careers, continued to grow. Members were provided with opportunities to shadow established writers, engage with work experience, and take part in arts leadership and governance, including planning cultural events to celebrate South Asian Heritage Month. The Youth Advisory Board was established and is now playing an active role in guiding and initiating new youth focused activities. Once again, we worked with Serendipity in Leicester to deliver the Black Ink writing competition for writers from the African-Caribbean diaspora. WEM's annual writing competition, Aurora, ran for the eighth time again increasing applicants and hosting an engaging celebratory event at Normanton Library, Derby, at the heart of a community that has lesser provision. Solstice the nature-themed, young writers' prize also grew. Alongside WEM's young people's groups, it has provided the foundations for creative responses to the rewilding activity of regional Wildlife Trusts which may lead to substantial project in 25/26. The Director's recognise that as the organisation enters a period of strong growth there is the risk of strain on its resources which may detract from its core purpose of providing opportunities for writers. Care is needed to ensure full cost recovery from project funds, and there will be the need to strengthen core funding further to maintain the organisation's current impetus. FINANCIAL SUMMARY The organisation continues to benefit from strong support from Arts Council England through National Portfolio funding. ACE provided a core activity grant of £198,000 in the period, an increase of £70,000. The Directors note that the direction of these activities correspond closely with Arts Council England's Let's Create 10-year strategy to support creative people, cultural communities, and a creative and a cultural country. This will be demonstrated in future activity during the during the NPO period 2023-27. The company maintained its financial position in what are still difficult circumstances. Turnover increased to £281,143 (£226,841). Administrative expenses were £194,806 (£177,280). After deductions for costs of sales £85,278 (£48,798) there was an operating surplus before tax of £4,354 (£765). The Board notes that reserves have therefore increased to £57,799 (£53,749). While this is in line with a previously stated policy of moving reserves to a minimum position equivalent to three months of operational costs, the current environment makes it prudent to raise expectations and requirements for holding a higher level of reserves measured against a proportion of turnover. By this measure we aim to increase reserves to 25% total income by the end of the period. It instead stood at 20.5% which is below our target. This is in part due to the increase in turnover by 24% while reserves increased by only 7.5%. While this is progress, the 25% aspiration remains for the next period.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Mrs J M Allnatt
Ms S Chauhan
M J Molloy
R Parmar
C S R Walker
Ms C O'Farrell
Ms C A Adlam


The director shown below has held office during the period of
1 April 2023 to 25 May 2023

Ms G G P Pendse


Secretary H Mullin

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
11 September 2024

And signed on behalf of the board by:
Name: M J Molloy
Status: Director

WRITING EAST MIDLANDS C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2024

2024 2023


£

£
Turnover: 281,143 226,841
Cost of sales: ( 85,278 ) ( 48,798 )
Gross profit(or loss): 195,865 178,043
Distribution costs: 0 0
Administrative expenses: ( 194,806 ) ( 177,467 )
Other operating income: 2,262 0
Operating profit(or loss): 3,321 576
Interest receivable and similar income: 1,033 189
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 4,354 765
Tax: ( 304 ) ( 228 )
Profit(or loss) for the financial year: 4,050 537

WRITING EAST MIDLANDS C.I.C.

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,177 1,057
Investments:   0 0
Total fixed assets: 1,177 1,057
Current assets
Stocks:   0 0
Debtors: 4 2,741 4,954
Cash at bank and in hand: 94,783 116,674
Investments:   0 0
Total current assets: 97,524 121,628
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 40,902 ) ( 68,936 )
Net current assets (liabilities): 56,622 52,692
Total assets less current liabilities: 57,799 53,749
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 57,799 53,749
Members' funds
Profit and loss account: 57,799 53,749
Total members' funds: 57,799 53,749

The notes form part of these financial statements

WRITING EAST MIDLANDS C.I.C.

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 11 September 2024
and signed on behalf of the board by:

Name: M J Molloy
Status: Director

The notes form part of these financial statements

WRITING EAST MIDLANDS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and includes government grants.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery etc - 25% on cost and 15% on cost

    Other accounting policies

    Hire purchase and leasing commitments Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

WRITING EAST MIDLANDS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 6

WRITING EAST MIDLANDS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 5,673 5,673
Additions 873 873
Disposals ( 1,735 ) ( 1,735 )
Revaluations
Transfers
At 31 March 2024 4,811 4,811
Depreciation
At 1 April 2023 4,616 4,616
Charge for year 753 753
On disposals ( 1,735 ) ( 1,735 )
Other adjustments
At 31 March 2024 3,634 3,634
Net book value
At 31 March 2024 1,177 1,177
At 31 March 2023 1,057 1,057

WRITING EAST MIDLANDS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 550 4,725
Other debtors 2,191 229
Total 2,741 4,954
Debtors due after more than one year: 0 0

WRITING EAST MIDLANDS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 1,007 1,551
Taxation and social security 2,800 3,069
Other creditors 37,095 64,316
Total 40,902 68,936

WRITING EAST MIDLANDS C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Financial Commitments

The company had total commitments at the balance sheet date of £2,933 (2023: £2,933) relating to the lease in respect of the offices.

COMMUNITY INTEREST ANNUAL REPORT

WRITING EAST MIDLANDS C.I.C.

Company Number: 06459299 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Artistic Programme These accounts represent the fifteenth year of trading for Writing East Midlands and eighth period since converting to Community Interest Company status in support of the organisation's artistic aims and social values. We believe in an open society which for us means equality of access to the means of creativity, the arts, and expression. WEM works to build the region's reputation for the quality and diversity of its writers and as a place where writing is valued as an art and for its social impact. We run programmes that raise the skills and aspirations of writers connecting them to communities. We aim to be the place in the East Midlands, where people exchange ideas for working in the literature sector knowing we can connect them with partners among organisations, artists, producers, local authorities, schools, universities, museums, libraries, heritage organisations, and the health sector. 2023 - 24 saw the organisation continue to recover from the effects that the Covid crisis had on its operations and audience behaviours. The effects of the cost-of-living crisis and how this affected disposable incomes have also had an impact. We had decided to move away from the delivery of short courses in the previous period meaning more emphasis being placed on the raising of income through project activity. The risks were of competition in the public and private grants space for available funding which, in many cases, was aimed at alleviating the immediate life requirements of a population increasingly suffering around poverty and deprivation lines. We saw the building up of social pressures likely to lead to more community polarisation and the unrest that tends to mark economic downturns. This influenced our strategy of moving away from seeking smaller grants, and towards larger funding for projects with a high degree of intersectionality lending themselves to the internal diversity and inclusivity which is necessary to our values. This was also made possible by the increase in core funding from ACE, gained in the previous year, which uplifted from £128,000 to £198,000 to 2027. WEM was better able to pursue innovative initiatives for social good at a time when social and economic pressures were increasing. WEM continued to contribute to ACE's Let's Create strategy through its core activity which provides mentoring programmes, learning activities, workshops, conferences, residencies, and agency and publishing activities for emerging and established writers. We are delighted to confirm £460,548 of new funds generated within the period which will be applied to activity between 2024 - 2027. These are for collaborating with autistic people in Beyond the Spectrum (£262,098 from ACE, £148,450 from The National Lottery Reaching Communities Fund, and £49,410 from Lincolnshire Shine Fund). The project, which began with a small National Lottery grant of £10,000 in 2019-20, will now progress to a national project bringing together many partners from arts, social service, and NHS sectors, in a new creative network enabling WEM to take an intersectional approach to diversity. This will be important to our development as ideas of inclusivity and diversity become more nuanced, and we move closer to our aim of becoming experts in the field of using arts for social benefit. Although the bulk of our organisational developmental activity in the period was focussed around working with neurodiversity and well-being, we continued with other core activities. Smaller funds were gained from Magna Vitae (£5,000), Shine Lincolnshire (£9,965), ALCS (£3,500) and Amazon (£7,000) for work respectively with transient Lincolnshire coastal communities, Surviving by Storytelling in Lincolnshire, emerging writers across the region, and children and young people in Levelling Up areas. We continued to lead and collaborate on projects which satisfied our aims to work with diverse groups of children and young people, particularly in areas of lesser provision. The partnership with the young person's charity Eastside continued. It delivered Spoken Word Power (SWP) in the East Midlands connecting students with leading poets to encourage self-expression and confidence. Sadly, the lead organisation was not able to secure funding for 2024 - 25 which means that we will seek funding to run a similar initiative independently as there is much demand for the activity across Lincolnshire. Our WEMterns programme, which supports 18-25-year-old writers taking the first steps in their writing careers, continued to grow. Members were provided with opportunities to shadow established writers, engage with work experience, and take part in arts leadership and governance, including planning cultural events to celebrate South Asian Heritage Month. The Youth Advisory Board was established and is now playing an active role in guiding and initiating new youth focused activities. Once again, we worked with Serendipity in Leicester to deliver the Black Ink writing competition for writers from the African-Caribbean diaspora. WEM's annual writing competition, Aurora, ran for the eighth time again increasing applicants and hosting an engaging celebratory event at Normanton Library, Derby, at the heart of a community that has lesser provision. Solstice the nature-themed, young writers' prize also grew. Alongside WEM's young people's groups, it has provided the foundations for creative responses to the rewilding activity of regional Wildlife Trusts which may lead to substantial project in 25/26. The Director's recognise that as the organisation enters a period of strong growth there is the risk of strain on its resources which may detract from its core purpose of providing opportunities for writers. Care is needed to ensure full cost recovery from project funds, and there will be the need to strengthen core funding further to maintain the organisation's current impetus.

Consultation with stakeholders

Arts Council England was our major funder in 2023/24. We provide quarterly cashflow and management accounts plus annual accounts in order to draw down our funding. Our ACE Relationship Manager regularly reviews our activity.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
11 September 2024

And signed on behalf of the board by:
Name: Mr Martin Molloy MBE
Status: Director