Annual Review 2025-2026

This review gives you an insight into our work, and highlights some of our achievements, innovative projects and services during 2025-2026. 

Our vision is to inspire people across Nottinghamshire to read, learn and enjoy culture. 

1. Inspire 10 Year Anniversary Video
2. Introduction from the Chair and Chief Executive
   
3. Culture, Learning and Libraries (Midlands) Trustees’ Annual Report and Accounts 2025-26
   
4. Expenditure & Funding
5. Funding and Income Sources
6. Governance
7. Accreditations
8. 2025-26 highlights

Introduction from the Chair and Chief Executive

Culture, Learning and Libraries (Midlands), trading as Inspire, has enjoyed its tenth year of operations as we continue in our aim of inspiring Nottinghamshire communities to read, learn and enjoy culture.

Inspire was created in 2016 by Nottinghamshire County Council with a clear purpose of sustaining and developing arts, cultural, heritage, learning, library and music provision across the county.

The Inspire model enables the organisation to be agile, dynamic and quality driven, with a focus on its customers, learners, members and staff. This annual report is our tenth report, and it is clear the Society has met its original intentions and ambitions.

Our forward plan 2022 – 2026 has underpinned our focus and development as an organisation, with the four priorities of quality, dynamism, inclusivity and sustainability being at the heart of the way we operate and deliver services.

2025/2026 has followed an approach of balance between delivering our outcomes, reviewing our offers and staffing and implementing changes to become more efficient, sustainable and responding to the changing needs of our communities and funders.

The year has seen our overall performance maintained at a high level with significant achievements in the levels of volunteering, increasing the opportunities to connect and engage and external acknowledgement through several national accreditations.

Our achievements, outcomes and impact on individuals and communities can be transformational and something that we are proud to report and continue to drive us forward.

Financially, we are in a stable position, and this has enabled us to continue to invest in services, technology, and building improvements.

Our staff teams and volunteers sit at the centre of Inspire and are the essential ingredients in our success. Their passion, creativity, commitment and enthusiasm make a real difference to our learners, students, teachers, researchers, customers, communities and partners, and we are deeply grateful for their contribution.

We are proud of our success and are committed to ensuring the development of the Society and its capacity to make an impact are maintained and developed in the coming years.

Margot Madin - Chair of the Board

Peter Gaw - Chief Executive Officer

During 2025/2026 Inspire saw income of £24,542,473 and expenditure of £23,663,180 giving a surplus in the year, before any movements of funds and after an actuary pension adjustment, of £879,293. These figures include an actuary adjustment, reported under the Financial Reporting Standard 102 (FRS 102), resulting in a surplus on the Local Government Pension Scheme funds. Recognition of this surplus under FRS 102 should only be made to the extent that an employer can expect to ensure the future economic benefit from it, either by paying a reduced rate of contributions or taking a refund. It is not anticipated that the next actuarial valuation will result in a reduction in contributions or a refund, so the full surplus has therefore been removed from the accounts, and the pension valuation is shown as a breakeven position at the year-end.

Removing the actuary adjustments gives a clearer picture of Inspire’s financial performance. This results in a surplus in the year of £628,293. This is made up of an increase in restricted funds of £250,544, an increase in restricted fixed asset funds of £5,528, and an overall increase in unrestricted and unrestricted designated funds of £372,222. It is this figure of £372,222 which shows the true final surplus in the year.

Inspire – Culture, Learning and Libraries (Midlands) is a community benefit society with charitable status. Inspire is registered with the Financial Conduct Authority (registered number 7139). 

The main board is made up of 12 Directors; four Community Directors (elected by our members), two County Council nominated, four co-opted, one Staff Director (elected by staff members) and the Chief Executive Officer. There are committees in the following areas: 

• Audit and Finance 
• Learning and Skills 
• Culture and Heritage 
• Staffing and Standards. 

Inspire continues to achieve recognition and accreditation from a number of external bodies covering many of our services: