Principal activities of the company

Objects and aims Over the past four years, The Challenger Academy (formerly VCCP Stoke Academy) has been dedicated to empowering creative young people from Stoke-on-Trent by providing valuable work experience, free skills training and career guidance. Last year, we increased student participation in our work experience programmes, produced creative career teaching resources for Primary schools which aligns with the national curriculum and was guided by our partner Alpha Academies Trust, confirmed partnerships with Alton Towers and LADbible, and secured our first bit of grant funding through the National Lottery and the UK Shared Prosperity Fund. Through our programmes, we’ve successfully laid a strong foundation for enabling talented young people to pursue a thriving creative career, regardless of their background. In 2025, we aim to build on this work and work closely with industry partners helping us to expand our programmes into more areas in need across the United Kingdom, scale our programmes in schools in Stoke and Staffordshire, develop additional skills training workshops for teachers and local youth, and connect young people with jobs across the local creative sector. In addition, a major priority will be fundraising. Public benefit Our work coalesces around the three pillars to our strategy which are designed to guide us in setting our priorities and assessing how we are performing against our mission. Our strategic pillars are: Inspiring young people, no matter their background, to consider a career in the creative industry. Providing highly accessible work experience and mentoring opportunities for young people in Stoke-on-Trent and Staffordshire which significantly improves their prospects of employment. Creating high quality jobs and connecting young people to local employers in an effort to keep local talent in the area. Programmes that we offer include a 4-week summer internship called “The Best Summer Job Ever”, the Intercity Student Challenge which is our 8-week long introduction to advertising for local sixth form colleges, various skills training workshops, and we offer a mentoring programme where young people get 3x sessions per year with a creative industry professional where they’ll receive career guidance. Our programmes and activities are run by our Head of Operations, Schools Outreach & Programme Manager, and VCCP staff volunteers who are industry experts. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Political and charitable donations

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Gifts in kind Gifts in kind are recognised in different ways dependent on how they are used by the charity: (i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised. (ii) Those donated for onward transmission to beneficiaries are included in the Statement of Financial Activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them. (iii) Those donated for use by the charity itself are included when receivable. They are valued at the amount the charity would have had to pay to acquire them.

Additional information

Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation 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. Research and development Research and development expenditure is written off as incurred. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

This report was approved by the board of directors on 30 May 2025
and signed on behalf of the board by:

Name: Charles Vallance
Status: Director