**REGISTERED COMPANY NUMBER: 02942151 (England and Wales) REGISTERED CHARITY NUMBER: 1039555** 

**REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** 

**FOR WYSING ARTS CHARITY** 

Staffords Chartered Accountants & Statutory Auditors Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH 



**WYSING ARTS CHARITY** 

**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** 

||**Page**|
|---|---|
|**Report of the Trustees**|1 to  16|
|**Report of the Independent Auditors**|17 to  20|
|**Statement of Financial Activities**|21|
|**Balance Sheet**|22|
|**Cash Flow Statement**|23|
|**Notes to the Cash Flow Statement**|24|
|**Notes to the Financial Statements**|25 to  38|
|**Detailed Statement of Financial Activities**|39 to  40|





**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. 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). 

'Wysing was founded with a utopian vision to create space for artists to live & work. Today it is ... pioneering an experimental approach to artistic practice, learning & curating."Louise Benson, Elephant Magazine. 

Wysing Arts Centre is a progressive organisation in a rural setting, established in 1989. We enable artists and publics to engage their imagination freely and take creative risks; we believe that everybody has the right to time and space for creativity, away from the distractions of daily life. 

The site is ten miles from Cambridge city. It holds 20 subsidised studios, accommodation for up to 80 visiting artists annually, recording and ceramics studios, flexible space to experiment, present and learn, fields, woodland, and several outdoor artworks. 

Wysing invites artists from across the world to stay and reflect on their practice without the pressure of producing new work: time spent without a plan can often be when the best new ideas emerge. We take a proactive, intersectional approach to equity, and often support artists who have not been well supported by mainstream gallery and funding systems. Several artists who have spent time at Wysing have gone on to be Turner-prize or Paul Hamlyn Award winners. Some artists go on to be commissioned by Wysing to create new work, presented on site and in places where a wide range of people will enjoy it; many participate in Wysing's lively events programme. 

Wysing engages people of all ages through artist-led workshops, events, online projects, gatherings and an alternative art school called The Syllabus. Our youth-led learning programme focuses on providing creative opportunity, confidence and empowerment for rurally isolated young people; our Creative Youth Council holds decision-making powers in our organisation. 

We are funded principally by Arts Council England through its National Portfolio scheme. Further funds are raised through Trusts, Foundations, individual giving, and commercial activity. 

In 2024, Wysing successfully met its capital fundraising target with the generous support of Arts Council England, Garfield Weston, South Cambridgeshire Rural England Prosperity Fund, Cambridgeshire Capital Priorities Fund, South Cambridgeshire Zero Carbon Communities Fund and Thalia WB. The site-wide capital project is focused on environmental sustainability and accessibility that will see our grounds and key areas of our site made fit for purpose, increasing the financial stability of our organisation, and enabling us to better match our mission, vision and values. 

In March 2025, we completed Phase 1 of our capital project which included installing an array of 25 solar panels in one of Wysing's fields, as well as re-surfacing the South Courtyard and pathways across the site to improve disabled access. Phase 2 will see the transformation of the reception and live/work spaces, enabling them to become more welcoming, and functional, for wider audiences with a wider range of requirements. 

We are active in Plus Tate; we lead the Eastern branch of the Contemporary Visual Arts Network, and our Director is a co-lead of Create Cambridge cultural compact. Our impactful local, national and international collaborative partnerships with cultural, educational and social organisations are core. They are built to share resources and knowledge in our sector, and to widen our reach. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **OBJECTIVES AND ACTIVITIES Vision, Mission, Aims and Objectives** 

**VISION:** to cultivate the freewheeling imagination. 

**MISSION:** Wysing believes in the transformative social and personal benefits of art and creativity, and that a more just world can only be achieved if everyone has equal access to the time and space needed to imagine it. Wysing provides accessible opportunities and resources to think and create, outside the habits of daily life. We support artists to develop their talent; we advocate for the immense value they have in the world, and we work to create the conditions necessary for them to have sustainable careers. 

## **AIMS and OBJECTIVES:** 

- **Collaborative:** Work together to build resources 

- * **Generous:** Model change, sharing our resources equitably * **Agile:** Create and seize opportunity * **Attentive:** Listen to what people say, and respond effectively * **Transparent:** Build trust, and be open about how we work * **Ethical:** Avoid causing harm to people and the planet 

Our Director and Deputy Director are supported by Trustees who hold expertise in key areas of our work. Our Trustees are led by Wysing's Chair, Laura Wright (CEO, Postal Museum, former CEO, Tate Enterprises) who joined in September 2023. 

Our work is reviewed quarterly at Board meetings, together with a range of policies and Wysing's risk register. Board sub-committee meetings, including finance and site groups, are held when needed throughout the year. 

Qualitative and quantitative evaluation frameworks to help us learn and develop, and to meet targets on equity, diversity and inclusion. We gather data from visitor surveys and verbally, as well as from social media and press. We learn, adapt and deepen the value of our artist support programmes through formal evaluation assessed by staff. Throughout 2024-5 we have been working with Evaluation and Audience Development professionals Ruth Melville and Anna Franks to help build a comprehensive framework for evaluation and development across the organisation, which will be complete by the end of 2025. 

Our team receives training throughout the year, focusing on key areas that reflect our work - these include safeguarding, disability awareness, autism awareness, mental health first aid, fire safety and first aid training. 

## **LORNA O'BRIEN (1969-2024) AND TERRY BROOKS (1951-2024)** 

December 2024 saw the untimely death of two pillars of Wysing's staff team and community. Wysing's Deputy Director Lorna O'Brien died on 8 December 2024 following a cancer diagnosis in the Autumn, and later that month, on 22 December, Wysing's co-founder and longest standing Trustee, Terry Brooks, died peacefully after living with COPD for many years. Celebrations of Life were held for both Lorna and Terry at Wysing Arts Centre, in March and July respectively. 

The impact on the organisation has been significant, emotionally and in terms of capacity across the team. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **OBJECTIVES AND ACTIVITIES Significant activities** 

## **Residencies** 

Artistic residencies are core to our work. We provide national and international artists at key moments in their careers with a bursary, workspace, accommodation, as well as ongoing curatorial and practical support. We continue to support artists after they have completed residencies by offering ongoing critical guidance where requested, and the opportunity to return to Wysing to stay for short periods to continue developing their practice. 

We continue to offer a flexible residency model that allows artists to determine the length of their stay, recognising that some artists may not be able to spend blocks of time at Wysing (e.g. caring responsibilities, health conditions, jobs). We have a designated Access Budget that enables us to support artists who need additional resources to participate meaningfully. In 2024-5 our Artist Advisory Committee were Delaine Le Bas, Daniel Oduntan, Sammy Paloma and Eve Stainton. 

Residency artists for 2024-5 were: Emii Alrai (UK, supported by Knotenpunkt), C&G Artpartment (UK/Hong Kong, in partnership with Para Site, Hong Kong), Cade & MacAskill (UK), Appau Jnr Boakye-Yiadom (UK, recipient of the Donna Lynas residency Award in partnership with Somerset House Studios, South London Gallery and Modern Art Oxford), emilyn claid (UK, supported by Knotenpunkt), Georgia Gendall (UK), Hannan Jones (UK), Alastair Kwan (UK), Shepherd Manyika (UK), Bella Milroy (UK, with a digital residency co-organised with Vital Capacities), Abi Palmer (UK), Elsa Prudent (France, in partnership with CAPC Bordeaux as part of FLUXUS Magnetic Programme), and Diana Puntar (UK/USA, supported by Knotenpunkt). 

"During our residency at Wysing we've been working on a new performance titled 'NOW NOT NOW'; that reflects on time and sensation through a neuroqueer lens. The work uses manipulated video and we've been experimenting with performing at different speeds to reveal clashing temporalities and different experiences of time. 

"This is our second stay at Wysing this year. We've loved working and living here and, in the summer, we enjoyed spending time creating slow-motion, durational video performances in the woods. Returning in January and observing the changing seasons has been inspiring. This time, we worked mainly in Wysing's Project Space and experimented with music for the performance including dabbling with recorders."  Cade and MacAskill 

Forms of support throughout the year included help with Arts Council England Developing Your Creative Practice grants, which were successful for emilyn claid and Barby Asante, and Georgia Gendall's Henry Moore Foundation grant, which was also successful. 

## **Events** 

For the second year running, we presented six iterations of Wysing's sell-out performance and music night for LGBTQI+ audiences Club Urania in partnership with Cambridge Junction and queer organisers in Cambridge. Club Urania is a LGBTQI+ inclusive space featuring live 'work-in-progress' performance and open mic slots for locally based performers to try new works, followed by music and dancing. The event aims to meet a range of audience requirements, offering captioned performances and livestreaming for remote viewing. In 2024-5 we supported six artists to try out new works in this context, including Eve Stainton, Belladonna Paloma, Tam Reynolds, Babeworld and Juliet Jacques. Queer Utopias, Wysing Arts Centre's festival of queer culture, rescheduled from 2023-4, took place in May 2024, with contributions from Babeworld, Ama Josephine Budge, Diarmuid Hester, Noreen Masud and many others. 

On 6 July 2024, Wysing Open took place, with contributions from studio artists together with residency artists, across the site - see below 'exhibitions & commissions'. 

Wysing offers an integrated approach to digital and in-person events, live streaming where possible to ensure that those who cannot attend person can attend digitally. We work with live captioners to ensure accurate subtitling. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **OBJECTIVES AND ACTIVITIES** 

## **Exhibitions & Commissions** 

2024-5 saw the continuation of Wysing's New Block Commission, an exhibition on Wysing's road-facing studio block, seen by over 1,000 passersby, daily. Rafal Zajko's hugely impactful commission Corns and Calluses continued to run from February 2024 until September 2024. This was followed by Alexis Parinas' There Are So Many Seeds, So Many Stars, from September 2024 to September 2025, created in collaboration with over 500 students from St Peter's School, Huntingdon, spanning Years 7 and 8 (11-13yrs). An event that included a screening of a film that Alexis had made with the students, and a Q&A, enabled the young people to see their commission on site at Wysing Arts Centre. 

Temporary exhibitions took place across the year. As part of Queer Utopias, Diana Puntar transformed Amphis into an installation connecting fungi and queer dance-floor culture. During Wysing Open, Appau Jnr. Boakye-Yiadom presented moving image work After: Compliments (2024), Georgia Gendall presented sound work The Worm Forgives the Plough (2024), Alastair Kwan presented 8 Bottle (2024-ongoing); Hannan Jones and Shamica Ruddock presented their sound installation The Shift (2022). 

Works created at Wysing often go on to be seen elsewhere. For example, 2023-4 residency artist Delaine Le Bas was nominated for the Turner Prize, specifically for work that she made at Wysing on her residency. This work was first presented as an exhibition Incipit Vita Nova at Seccession, Vienna, in 2023, was presented as part of the Turner Prize exhibition at Tate Britain from 25 September 2024 - 16 February 2025. Eve Stainton's performance Impact Driver continued its tour to Chapter, Cardiff, for a multi-show run from 24-7 November 2024, having been produced on residency at Wysing in 2022-3. 

## **Partnerships** 

Across 2024-5, significant work to maintain and engage new national and international partnerships took place, creating opportunity and development for national and international artists. This includes: 

- Raspberry Pi Foundation invited us to co-devise an artist-in-residence programme for an artist to spend time between the Foundation and Wysing, with a fee of over £13k and additional research/travel budget. This resulted in the appointment of Sahjan Kooner who began their residency in January 2025. 

- Leicester University Museum Studies. In partnership with Dr Rosemary Shirley, we successfully applied for a fully funded joint PhD for a researcher to spend 3 years exploring the legacy of rurally based arts centres in shaping perceptions of rurality and rural arts, from 1970s to the present. Central to this will be an in-depth exploration of Wysing's archive. The candidate will be considered a 'researcher in residence' and will be announced in Spring 2025. 

- St Peter's School, Huntingdon have confirmed an extension of our artist in residence programme, enabling an artist to work with years 7 and 8. This has increased the artist fee and will increase impact of the work from 270 to almost 600 young people directly impacted, annually. 

- Para Site, Hong Kong: have confirmed C&G Artpartment for a joint artist-in-residence programme for UK based HK artists. 

- Magnetic / FLUXUS Foundation, in partnership with Arts Council England, have agreed another year's of residency at Wysing for a Bordeaux-based French artist, organised in partnership with CAPC Bordeaux. 

- Japan House are supporting two Japan-based artists in residence for 2025; GB Sasakawa funded a trip for Wysing's Director in May 2024 to build partnerships and knowledge of the sector. 

- Continuation of support for the Donna Lynas Residency Award (3 years of support for an artist) in partnership with South London Gallery and Somerset House Studios (both London), and Modern Art Oxford (Oxford). 

- Continuation of Syllabus alternative learning programme, developed and delivered in partnership with Eastside Projects (Birmingham), Ps2 (Belfast), SITE Gallery (Sheffield), Studio Voltaire and TACO! (London), and New Art Exchange (Nottingham). 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **OBJECTIVES AND ACTIVITIES Wysing Studio Artists** 

Wysing studio artist tenants continue to be supported through portfolio reviews and mentoring sessions, as well as presenting their work as part of Wysing's annual, public-facing Wysing Open, centred around artist studio presentations. CJ Mahony tried out a new body of work in Wysing's Project Space, presenting it to invited members of the public for their feedback. Studio artists are also eligible to apply for a 'Test Space' professional development grant: in 2024-5 this was awarded to CJ Mahony, to bring together a book of writing with support from Emmy Yoneda, and Bettina Furnee to work with sound designer / filmmaker Graeme Arnfield to complete her work Out of Our Earth ahead of an exhibition at the Broadway Gallery, Letchworth, in 2025. Bettina Furnee and Beverley Carruthers were also supported to receive an Arts Council England project grant.  Wysing also employs studio artists where their skills and experience matches opportunity. 

In June 2024, the studio artist lease review concluded, following an in-depth period of consultation that involved studio artists, members of the wider Cambridge/shire artist community, Trustees and Wysing's team. The collective decision was made to provide greater security for studio artists through more secure lease terms. Wysing appointed the legal expertise of Bates Wells and Broadfield Law to review studio artist leases, and Wysing's head lease with Rapoport, to ensure that any change would fully meet Wysing Arts Centre's legal and charitable responsibilities. 

## **Syllabus** 

March 2024 saw the conclusion of the Syllabus VII, a co-designed learning programme for artists that unfolds as a series of gatherings across the year. Artists in this year's cohort were Omid Asidi, Maggie Campbell, Katrina Cobain, Sophie Gresswell, Sahjan Kooner, Yoojin Lee, Natasha MacVoy, Michael., Alexis Parinas and Moira Salt. 

## **Young People** 

Wysing's young people's programme is centred around two key areas: Creative Youth Council, and Schools. It is developed for and by young people. Across 2024-5 it was primarily supported by the generosity of the John Armitage Charitable Trust and the Ragdoll Foundation. 

Wysing's Creative Youth Council is for young people aged 14-18 with additional support requirements and/or who are at risk of isolation (especially rural). 38 young people engaged across 2023-4. They met 11 times in 2024-5, for four hour sessions each month, to collaborate and experiment with artists, meet new friends in a safe and supportive space, to get involved in a variety of arts opportunities, including programming events, festivals, resources, and their own artwork, build teamwork and leadership skills which can then be used to support college, university and / or job applications, and to Programme events including annual Creative Youth Festival, which in October 2024 attracted 75 young people.  In 2024-5, 78% of CYC reported feeling more confident after participating in CYC activities, with their confidence increasing still further throughout the course of the sessions. 94% reported that their voices were heard, and 85% said that their ideas and imagination were expanded.  "When we come up with an idea for the art projects, the response isn't 'no,' it's 'how can we make it work?' So, it's very nice not to be told 'you can't do that' but instead to be encouraged to do it." 

CYC member comment, via interview 

In 2024-5 we included additional activity in response to the needs and requests of the young people we engaged. This included Summer School (12-15 August 2024), with targeted offers for those in receipt of pupil premium. Taxi transport or a £15 bursary was provided. Themes were developed with CYC members and included experiencing Wysing's ceramics studio, recording studio, woodlands and fields. It was important to CYC that the Summer School was also an opportunity to creatively support young people's mental health and wellbeing through connecting to nature.  It also included a bespoke mentoring opportunity for Pheo Cox, who - from September 2023 to July 2024 - received mentorship from artists Dylan Fox and Sean Roy Parker. There were 100 contact hours spread across 9 months, which was flexible and bespoke to support Pheo's access needs, and resulted in a new artwork commission by Pheo, launched at Queer Utopias festival.  "I think places like Wysing make you realise about diversity within communities and it's like this whole other world and when you step foot into it, and you see so much diverse creation around you, and it's all called art." 

Young person's mentoring placement comment, via interview 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **OBJECTIVES AND ACTIVITIES** 

In December 2024, the CYC took a trip to London to meet with Delaine Le Bas in her Turner Prize exhibition. Tate generously offered free entry to the group, many of whom had never been to London before. 

Wysing's third Creative Youth Festival was co-programmed with CYC, and offered prioritised attendance for pupil premium young people and partner organisations St Neots Youth Council and Pride Group, Centre 33 and Romsey Mill, Aspire group. Activities included makeup with Jack Oliver, pumpkin carving with Sean Roy Parker, and mural making with Alexi Marshall. 

Schools and youth visits increased in 2024-5 as our programme and approach became more widely known. This included visits from Caldecote Primary School, Romsey Mill, Fenland Youth Group, 20Twenty Productions, Northstowe Secondary School, and Martin Bacon Academy SEND School (supporting their Silver Arts Award). 

Artist residency at St Peter's School, Huntingdon. Following the success of the previous year's programme, the School invited Wysing to hold a residency with years 7 and 8 (11-13) across the 2024-5 academic year, through weekly workshops. In the first half of the year, artist Dylan Fox worked with young people, followed by Louise Ashcroft (January - June). Ideas and designs they developed together will be presented in public during 2025. Alexis Parinas worked across the 2023-4 academic year, leading to a significant new commission for Wysing Arts Centre's 'New Block Commission' which reaches over 100,000 passers-by to the site in 2024-5. 

## **Trustee Statement on Public Benefit** 

It is the Trustees' intention to ensure that Wysing continues to play a unique role in providing high quality facilities and access to innovative programmes of contemporary art for the benefit of artists and for wider society. Wysing provides studio accommodation (where there is a significant noted shortage of studio provision in Cambridgeshire, especially provision that is affordable), is one of a few rural venues in the UK that offer funded residency opportunities, as well as funding new work to be created and shown at our site or partner venues. It is a priority for the Trustees to continue to further the diversity, accessibility, reach and impact of our work, and to ensure the financial stability of our organisation especially in such challenging times. 

In considering the public benefit of the charity the Trustees have had regard to the Charity Commission's guidance on Public Benefit. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **ACHIEVEMENTS AND PERFORMANCE Significant Charitable Activities** 

## **2024-5 in numbers** 

- 31 artists spent time in residence at Wysing; 

- We supported 52 artists to produce new work; 

- We presented three on-site commissions, with three more presentations of work produced by Wysing residency artists presented nationally; 

- 624,558 in-person audience reach from onsite commissioning; 

- 78,287 in-person attendances to UK activity, 640 to international activity; 

- 11 performances; 

- 10 talks; 

- Five artist-led workshops for adults, with Wysing's ceramics studio open to members for six days a week; 

- One youth-focused, youth-led festival; 

- Eight digital projects with 25,951 engagements, and 544 social media posts with 11,475 engagements; 

- 47 formal learning sessions directly engaging 585 young people, and directly impacting 1,525 more; 

- * 22 informal learning sessions directly engaging 100 young people; 

- 20 site-based studio artists. 

## **Fundraising performance against objectives** 

Fundraising for the organisation is embedded across our work. Our freelance fundraiser works with the team to identify funding streams and develop bids. Alongside raising funds to meet annual budget targets, we continue to build new partnerships that enable us to meet targets and share costs. Our Resource and Enterprise Coordinator is tasked with growing commercial income across Wysing's site - a relatively new venture for our organisation. 

- Following an initial grant in 2023-4, The John Armitage Charitable Trust awarded us a three-year award to support our Young People's Programme, acknowledging Wysing's focus on young people facing rural isolation in an area of low cultural offer for that demographic. 

- Ragdoll Foundation continued to support our young people's programme in the final year of the funding agreement. 

- Freelands Foundation worked with us closely in response to the feedback we received from artists and partners participating in Syllabus to spread the total amount we received differently - increasing the funding amount per year to tackle the cost of living crisis, leading to an overall reduction in years that Syllabus will be funded by Freelands Foundation (reduced from 10 years to 7). 

- FLUXUS awarded us funding to support a Bordeaux-based artist-in-residence, in partnership with CAPC Bordeaux. 

- Knotenpunkt supported Emi Alrai and emilyn claid to be in residence in 2024-5, doubling their support from one residency to two, and enabling Diana Puntar to extend her residency for another year. 

- GB Sasakawa awarded Wysing a grant to travel to Japan, following funding received by Japan House in 2023-4. 

- We received a generous, anonymous donation via the Charities Aid Foundation to support our programme with a particular emphasis on our work with young people. 

- We received funds from Garfield Weston Foundation, Thalia WB, Cambridgeshire Capital Priorities and the South Cambridgeshire Rural England Prosperity Fund for our capital project, adding to funds from Arts Council England. 

- We refined Wysing's ceramics studio programme and invested in our ceramics studio to make it more user-friendly. We also grew our space hire offer. 

- We launched one new Limited Edition - a print by Delaine Le Bas. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **FINANCIAL REVIEW** 

## **Financial position & reserves policy** 

Wysing has a robust financial strategy that supports our aims and objectives. Over the last five years we have developed our cash reserves mitigating financial risk to the organisation. The trustees review our reserves policy on an annual basis. 

The Board-has set a target of a minimum reserve of £480,000 to enable the organisation its operation whilst also protecting cashflow. Designated Reserves enable the organisation to develop strategic areas of work, while addressing challenges and managing risk. 

The organisation works towards an annual budget that is approved by the Trustees and monitored throughout the year. We are privileged to have a highly skilled board of Trustees, the majority of whom have significant financial responsibilities within their own professions. They make a valuable contribution to the business strategy and embrace their responsibilities as charity Trustees. 

In addition to quarterly board meetings, the board has convened a dedicated Finance Committee which meets with the management team separately. Wysing's Deputy Director and Director, supported by the Finance Manager, report regularly on income and expenditure, our cashflow position and reserves. All budget-holders work within stated financial guidelines and we actively seek advice on developments within the charity sector. 

Overhead costs for the organisation include a rolling programme of building and site maintenance to ensure that equipment and facilities can be upgraded throughout the year thereby avoiding the need for emergency cash items and large-scale expenditure as far as possible. Assets are being depreciated at a realistic rate and the register is updated regularly and in tandem with the maintenance programme. 

Our aim is to be a model of best practice, to build a financial strategy that can withstand the fluctuations in the general economy, provide stability and allow us to grow as one of the country's leading arts organisations. 

When funds allow, they are transferred into a three-month fixed term treasury bond to maximise interest. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **FINANCIAL REVIEW** 

It is Wysing Arts Centre's policy to hold free reserves in its unrestricted funds to establish an appropriate level of working capital and to protect the future operations of the Charity from the effects of any unforeseen variations in its income streams, as part of good financial management practice. 

The Trustees have set a reserves policy which requires free reserves to be maintained at a level that ensures Wysing's core charitable purpose can continue to be delivered even during a period of unforeseen difficulty. 

The calculation of the required level of reserves is an integral part of the organisation's planning, budgeting, and forecasting processes. It takes into account: 

- The resources required to manage and adjust staffing levels across the charity. 

- The resources required to fulfil existing contracts, and other obligations and commitments. 

- The resources required to manage unexpected short-term drops in income; delays in receipt of grant funding; and emergency expenditures. 

- The resources for planned strategic investment and development. 

## **Designated reserves funds:** 

To support robust financial planning, free reserves may be designated by the Trustees for the following purposes: 

1. One-off risk management: £70,000 This reserve is held to protect the charity against short-term, unplanned financial risks or shocks. It may include: 

   - Sudden and significant loss of income (e.g. loss of income due to a global event such as the COVID-19 pandemic). 

   - Emergency repairs or urgent capital maintenance (e.g. building infrastructure failure). 

   - Legal or compliance costs not covered by insurance. 

   - Costs associated with winding down operations in a worst-case scenario. 

## Core Operational Expenditure Reserve: £190,000 

2. Core Operational Expenditure Reserve: £190,000 This reserve supports the continued delivery of core activities in the event of cash flow disruption or funding delays. It typically covers: 

   - Staff salaries and associated overheads for a defined minimum period (e.g. 3-6 months). 

   - Rent, utilities, and service contracts for the site. 

   - Essential programme delivery costs where contracts or funder obligations are in place. 

3. Strategic and Development Reserve: £60,000 This reserve is intended to allow for forward-looking investment aligned with Wysing's mission and business plan. It may include: 

- Seed funding for new programmes or partnerships. 

- Match funding to unlock grants or major donations. 

- Investment in new digital infrastructure or audience development strategies. 

4. Capital Expenditure Reserve: £70,000 This reserve is designated for the acquisition, maintenance, and improvement of Wysing's physical and digital infrastructure, and is developed alongside Wysing's business and site plan. It may cover: 

- Capital projects (e.g. building improvements, new studios or public spaces). 

- Equipment replacement cycles (e.g. IT, AV, or workshop tools). 

- Environmental sustainability upgrades (e.g. energy efficiency measures). 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **FINANCIAL REVIEW** 

The levels allocated to each of the above reserves will be reviewed annually, and updated as required based on risk assessments, strategic priorities, and changes in operational scale. 

Based on these principles, the target level of free reserves for the Charity at 31 March 2025 has been calculated as £480,000, £350,000 being 6 months of costs, £60,000 being the Strategic Development Reserve, and £70,000 being the Capital Expenditure Reserve. 

## Monitoring and Review 

Reserves levels are monitored quarterly and reviewed annually as part of the budgeting and planning process. If reserves fall below the target level, the Trustees will develop and implement a recovery plan. If reserves significantly exceed the target, the Trustees will consider designating surplus funds to future strategic projects or increasing allocations to designated reserves. 

## Reporting 

The reserves policy and the level of reserves held are disclosed in the annual report and accounts. As of 31 March 2025, the level of accumulated unrestricted reserves stood at £449,535, of which £24,544 is committed on future spending, giving free reserves of £424,991. 

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**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **FUTURE PLANS** 

2024-5 saw the appointment of two new team members: Amy Jones, Curator, and Brendan Cavaciuti who was appointed as Site and Environmental Futures Coordinator, a new role for the organisation. Despite a stable start, the year became increasingly challenging following the illness of Deputy Director, Lorna O'Brien in Autumn 2024, and her death in December. Wysing still achieved its core objectives, but several of the initiatives planned for the year adopted a different scale or were postponed to 2025-6.  Wysing's Trustee away-day in May 2025 has a focus on strategic planning towards the next NPO period, and the development of an updated business plan, to build on the current one which runs to the end of 2026. The process will identify key priorities and areas for development, including capacity building, across the next five years. 

## Capital development 

Wysing's capital project, titled 'A Greener, More Accessible Wysing', will: 

- Enable us to support a wider range of access requirements across our site; 

- Reduce our carbon footprint including dependency on oil and gas; 

- Create a better, more accessible visitor experience; 

- Make us more financially sustainable, through an improved commercial offer and by reducing our utilities bills. 

The financial situation remains extremely challenging for the arts sector, given inflationary increases and the cost-of-living crisis, as well as the increased competitiveness for funding across the sector from Trusts and Foundations and the fact that ACE funding remains at standstill and out of proportion with inflationary increases. The cost of energy and materials have risen substantially; we know that demand for public and private funding for institutions and artists outweighs supply. Once we complete our capital development project, we will be far better placed to develop and deliver a programme, confidently, that continues to be of significant value to all who engage with our work and that is of improved public value - especially in light of the environmental measures we will put in place. 

By the end of 2025-6, we will also have a ten-year site plan in place so that we are able to build a targeted fundraising plan and robust reserves policy that takes into account any further capital works, including much-needed site-wide repairs, that we need to undertake. The appointment of two architects to our Board in 2024-5 will help us to achieve this key strategic aim. 

## Environmental sustainability 

In March 2024, we appointed a new role: Site and Environmental Futures Manager. This role better reflects our future ambitions - to embed environmental sustainability across our work, including re-thinking the way we conceive of our site-based commissions in relation to our rural location, to sustainable site-based improvements, and supply chain / contract reviews. 

Following the installation of solar panels in February 2025, 2025-6 will see us reduce our energy consumption from the grid - by end March we were seeing a decrease of 70%. This will be further augmented by the installation of rainwater harvesting solutions and air source heat pumps as part of the wider capital project. 

We will also be implementing biodiversity measures across our site, including: 

- Introducing a swale to improve water flow; 

- Improved landscaping and planting; 

- Controlled planting and thinning to improve and create new habitats for flora and fauna. 

## Website and rebrand 

Since 2023 we have been working with designer / developers Twelve to update Wysing's brand and website. Combined with a new approach to audience development, this will enable us to tell the story of our work in a more dynamic and accessible way, updating signage and creating new avenues for digital production and dissemination of our work. The new website will be a platform to showcase the breadth of work across Wysing including our commercial offer of courses, event and space hire, specialist post-production services, and our shop selling unique books and prints. Our website will also offer a more visible online platform for donations. 

Page 11 



**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

The rebranding, with a new logo, will be an opportunity to refresh our visual identity to existing and new audiences. 

## Audience Development and Evaluation 

We know that environmental sustainability is a key concern for our local, national and international audiences, and we believe that realising our ambitions to create a more environmentally sustainable, biodiverse Wysing will enable us to better connect to 'hyperlocal' audiences who may have an interest in nature, the environment and the outdoors. In the longer term, we hope to share best practice and become a destination for other sectors, funders and individuals who may be interested in our approach, thereby offering a new way of engaging with Wysing. 

Having undertaken significant work from 2021- onwards to build engagement with our Young People's programme, we know that there is work to continue to build audiences and respond to the specific needs of young people in our area. We also want to ensure that we are evaluating with a focus on depth of engagement, and identifying areas of improvement and success. We will do this by continuing to ensure the young people we work with have a voice and are involved in decision making and programme design. 

Similarly, we know that our acclaimed residency and artistic programmes are vital opportunities for the artists we support. Tracking longitudinal impact has been challenging, and while some success measures (e.g. going on to win prestigious awards) are easy to spot, we want to ensure that we are able to determine against a more complex set of criteria, that is defined by artists themselves and that their relationship with / commitment to Wysing goes far beyond their physical time with us. 

We want to ensure that our work is reaching key audiences who can engage in many different ways and on many different levels  (hyperlocal, local, national and international) and that we are making the case for the work we do with an effective  evidence base that is continually reviewed, revised and relevant. 

We have extended the evaluation period from 2024-5 to 2025-6 to acknowledge capacity in the organisation; during this time we will continue to work with Ruth Melville and Anna Franks - two highly experienced professionals to help us build a bespoke framework for evaluation and audience development - enabling us to continually develop, assess and improve our work with ever greater impact. 

## Commercial income generation 

Our refreshed programme and approach reflects our small organisation's ability to be agile under challenging circumstances, and we have been able to re-shape our work in a way that maintains excellence, while increasing value and benefit for artists and publics. 

We know that our site offers much potential in terms of achieving financial resilience,  and we are confident that we can further develop an approach to commercial income generation that aligns with  our mission, vision and values. We will continue to review our targets and increase them according to reviewed capacity. 

In 2025-6 we will be growing our ceramics studio membership and introducing paid-for ceramics courses that address need in our area. We will also be reviewing our recording studio facilities and marketing in relation to other aspects of our commercial hire with a view to being able to offer specialist post-production facilities and services that can appeal to both commercial production requirements as well as supporting individuals or groups who have specific access needs or requirements. 

We are fortunate to have our Grade 2 listed Farmhouse as an asset in generating holiday rental income, and will work to ensure this is both balanced and working at an optimal level in relation to our core artist residency programme, while also promoting it as a place and space to retreat.  Visitors will be seen as a new audience with whom we can find innovative ways of engaging. 

## Partnerships 

We believe that partnerships remain central to resilience: they enable us to do more, share knowledge, and support artists and our team through learning opportunities. The success of partnerships such as Plus Tate, Syllabus and Create Cambridge are vital to Wysing; we will continue to explore and realise further targeted partnership opportunities across 2025-6, with an emphasis on those that support sector development, artistic development and risk-taking, and that grow our international reach and impact. 

Page 12 



**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

In developing a resilient business model, we will also grow our networks and partnerships with hyperlocal businesses where alliances will result in mutually beneficial opportunities.  As Wysing has excellent facilities for holding meetings and/or away days, we will be exploring advertising opportunities across the area in order to encourage groups to choose us. 

Equally, with our growing environmental credentials, we will ensure we are plugged in to local and regional networks to ensure we can showcase best practice and leadership in this area. We have just become part of Cambridge Climate Leaders group. 

We are developing a body of work around external consultation regarding arts and place, and Rosie Cooper has been asked by South Cambridge District Council to advise on a range of new town public art strategies including the major development, Northstowe. We will be looking for new consultancy opportunities to share our practice and knowledge, as well as advocating for artists and the infrastructure they need to thrive. 

## Equity and meeting a range of requirements 

We know that we need to ensure that our working practices and the way we support colleagues, artists and publics across our organisation and in our sector must be meet our visitors requirements, building equity from an intersectional starting point. We have been rated 'outstanding' in Arts Council England's 'Creative Case for Diversity' each year since 2016, but we need to do more. We know that the way our sector is built supports ableist, neurotypical habits and practices. We will continue to learn as a team how to support one another, and the artists / publics we work with, better through peer support, training, listening, adapting, and, where necessary, slowing down. 

In 2024-5, we initiated our first programme audit, looking in detail at the demographics of residency artists over the last five years to ensure that we actively address 'blind spots' in our programme. We will continue to do this on an annual basis and respond accordingly. 

In 2025 we will welcome the next DASH Curatorial fellow, to actively address the need for professional opportunity for disabled curators in our sector, and in preparation for this the Wysing team are taking part in the Social Model of Disability training led by Ramps on the Moon. 

## Charitable responsibilities 

As part of our Trustee Away Day in 2024, we were supported by Bates Wells Charity Law specialist Erica Crump to embed a full understanding of the charitable / legal responsibilities that Wysing Arts Centre, and Trustees, have. As we move forward with some of the changes we are committed to make in relation to studio leases, we will be drawing on legal support to ensure any decision we make is legally and charitably compliant. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **Trustees** 

In September 2024 we were joined by new Trustees: Luke Billington-Brooks, who continues the family connection with Wysing as the son of two of Wysing's co-founders, artist/architect Xiyao Chen; Mary Jane Edwards, Director of the Arts Foundation; architect Adam Peavoy, and accountant Ciara Fitzgibbon (Treasurer). 

## **Recruitment and appointment of new Trustees** 

Wysing is committed to maintaining a pro-active approach to equity. As with all recruitment of staff and Trustees, we draw up detailed job descriptions prior to advertising for any staff position or Trustee role. Where a description already exists, it is reviewed and updated. Posts and roles are advertised internally and externally and all advertisements carry an Equal Opportunities declaration. All applicants are judged on job or role-related, relevant criteria and short-listing for all senior posts and Trustees involves at least two members of staff and one Trustee. Recruitment decisions are filed for at least six months and feedback given to unsuccessful candidates on request. Upon appointment, all staff and Trustees are provided with a job description, handbook and contract of employment if appropriate. 

Page 13 



**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Organisational structure** 

Wysing Arts Charity trades under the name Wysing Arts Centre. The organisation is governed by a voluntary Board of Trustees who are also Directors of the Company. The Board meets no less than four times a year. For certain specialised areas of the charity's work subcommittees are formed which then report back to the full Wysing Arts Centre Board. A team of salaried staff carry out the day-to-day tasks of the organisation overseen by the Artistic Director (Chief Executive). Other than for the services of the Directors, the charity is not dependent for its work on unpaid volunteers or donations-in-kind. 

## **Induction and training of new Trustees** 

All new Trustees are given a broad range of materials when they join the board. The material includes the aims and objectives of the organisation, a staff and Trustee handbook, budgets and accounts and an outline of the role and responsibilities of becoming a Trustee. 

## **Wider network** 

Wysing Arts Centre is a member of the Plus Tate network. The charity co-ordinates the East Contemporary Visual Arts Network (ECVAN) for the East of England and Wysing's Director sits on the national CVAN Steering Committee. Wysing is also a founder member, and national co-ordinator, of the Syllabus network. Wysing's Director is a co-lead of Create Cambridge, the Cultural Compact for Cambridge/shire. 

## **Related parties** 

The charity has no related parties. 

## **Risk management** 

The Trustees are responsible for the management of risks faced by the organisation. The organisation's risk register is updated and shared at each Trustee meeting; this includes a Capital risk register. The key controls used by the charity include: 

- Formal agendas for all Board of Trustee meetings 

- Comprehensive strategic planning, budgeting and management accounting and reporting, making full use of funder-provided templates (e.g. Arts Council's reporting frameworks and Julie's Bicycle, ACE environmental reporting framework) 

- Formal written policies that are reviewed by Trustees annually 

- Established organisational structure and lines of reporting 

- A Risk Register that forms part of the Business Plan and is regularly reviewed and updated where necessary, as well as being shared quarterly with Trustees 

Through the risk management processes established, the Trustees are satisfied that the major risks identified have been adequately mitigated where appropriate. The following key risks have been identified and sit within the Financial Risk Register. The potential impact of these risks has been considered and steps are in place to monitor and mitigate the risk: 

- Loss of funding / income 

- Loss of key staff 

- Poor cashflow 

- Poor reserves 

- Budget does not match business plan objectives 

- Decisions and planning from inaccurate financial information 

- Poor financial control 

- Poor credit control 

- Fraud 

- Reputational risk 

- Site damage 

A qualifying third party indemnity provision is in force for the benefit of the Trustees. 

Page 14 



**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 02942151 (England and Wales) **Registered Charity number** 1039555 

**Registered office** Fox Road Bourn CAMBRIDGE Cambridgeshire CB23 2TX 

## **Trustees** 

T N Brooks (resigned 20/1/2025) H Offeh R N Ladak C Willoughby (resigned 28/7/2025) E L Benson L Billington-Brooks L A Wright C Fitzgibbon (appointed 20/1/2025) X Chen (appointed 20/1/2025) A Peavoy (appointed 20/1/2025) M Wiltshire (Mary Jane Edwards) (appointed 28/1/2025) 

## **Senior Statutory Auditor** 

Matthew Pettifer FCA 

## **Auditors** 

Staffords Chartered Accountants & Statutory Auditors Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH 

## **Bankers** 

Lloyds Bank Plc 1 Legg St Chelmsford Essex CM1 1JS 

## **Solicitors** 

Stephany & Co 72 Watling Street Radlett Hertfordshire WD7 7NP 

Page 15 



**WYSING ARTS CHARITY** 

**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

The Trustees (who are also the directors of Wysing Arts Charity for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **AUDITORS** 

The auditors,  Staffords, will be proposed for re-appointment at the forthcoming Annual General Meeting. 

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

Approved by order of the board of Trustees on ............................................. and signed on its behalf by: 

........................................................................ L A Wright - Trustee 

Page 16 



**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYSING ARTS CHARITY** 

## **Opinion** 

We have audited the financial statements of Wysing Arts Charity (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the charitable company 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 the provisions available for small entities, in the circumstances set out in note 22 to the financial statements, 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 concluded 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 performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial 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 information** 

The Trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, 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 knowledge obtained in 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 conclude 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 the audit: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

Page 17 



**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYSING ARTS CHARITY** 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept or returns 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 

- certain 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **Responsibilities of Trustees** 

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern 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. 

Page 18 



**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYSING ARTS CHARITY** 

## **Our 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 a Report of the Independent Auditors 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 material 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. 

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

We have obtained an understanding of the legal and regulatory framework applicable to the company, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the Financial Statements. 

We have considered the nature of the industry and sector, control environment and business framework, including the design of the company's remuneration policies. 

We have enquired of management in regard to their own assessment of the risks of irregularities, including fraud. 

We have obtained relevant documentation and representations in order to form an opinion on potential irregularities, including fraud. 

We have reviewed the company's documentation of their policies and procedures relating to identifying, evaluating, and complying with laws and regulations, detecting and responding to the risks of fraud, and the internal controls established to mitigate the risks of fraud and non-compliance with laws and regulations. 

Audit procedures performed during the audit included transaction testing with a focus on areas of judgement and estimations, and entries determined to be large or relating to unusual transactions. These audit procedures are designed to provide reasonable assurance that the Financial Statements were free from fraud or error. However, detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as those irregularities that result from fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. 

No instances of non compliance with laws and regulations or of fraud were communicated to us during the audit. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. 

Page 19 



**REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WYSING ARTS CHARITY** 

## **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 Companies Act 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 auditors' 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. 

Matthew Pettifer FCA (Senior Statutory Auditor) for and on behalf of Staffords Chartered Accountants & Statutory Auditors Unit 1, Cambridge House Camboro Business Park Oakington Road, Girton CAMBRIDGE Cambridgeshire CB3 0QH Date: ............................................. 

Page 20 



**WYSING ARTS CHARITY** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>3<br>**Charitable activities**<br>6<br>Studios and Buildings<br>Public Programme<br>Other trading activities<br>4<br>Investment income<br>5<br>Other income<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>7<br>**Charitable activities**<br>8<br>Studios and Buildings<br>Public Programme<br>**Total**<br>**NET INCOME**<br>**Transfers between funds**<br>19<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>funds<br>£<br>30,057<br>60,741<br>509,510<br>1,901<br>9,332<br>29,633<br>641,174<br>6,815<br>-<br>595,371<br>602,186<br>38,988<br>7,003<br>45,991<br>403,544<br>449,535|Restricted<br>funds<br>£<br>-<br>-<br>221,342<br>-<br>-<br>-<br>221,342<br>967<br>-<br>140,053<br>141,020<br>80,322<br>(7,003)<br>73,319<br>599,849<br>673,168|2025<br>Total<br>funds<br>£<br>30,057<br>60,741<br>730,852<br>1,901<br>9,332<br>29,633<br>862,516<br>7,782<br>-<br>735,424<br>743,206<br>119,310<br>-<br>119,310<br>1,003,393<br>1,122,703|2024<br>Total<br>funds<br>£<br>24,314<br>46,337<br>598,651<br>4,168<br>7,791<br>35,484<br>716,745<br>9,304<br>99,183<br>570,883<br>679,370<br>37,375<br>-<br>37,375<br>966,018<br>1,003,393|
|---|---|---|---|---|



The notes form part of these financial statements 

Page 21 



**WYSING ARTS CHARITY (REGISTERED NUMBER: 02942151)** 

## **BALANCE SHEET 31 MARCH 2025** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>16<br>**CURRENT ASSETS**<br>Debtors<br>17<br>Cash at bank<br>**CREDITORS**<br>Amounts falling due within one year<br>18<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>19<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Unrestricted<br>funds<br>£<br>18,784<br>93,637<br>454,578<br>548,215<br>(117,464)<br>430,751<br>449,535<br>449,535|Restricted<br>funds<br>£<br>613,832<br>4,940<br>54,396<br>59,336<br>-<br>59,336<br>673,168<br>673,168|2025<br>Total<br>funds<br>£<br>632,616<br>98,577<br>508,974<br>607,551<br>(117,464)<br>490,087<br>1,122,703<br>1,122,703<br>449,535<br>673,168<br>1,122,703|2024<br>Total<br>funds<br>£<br>562,287<br>69,387<br>417,401<br>486,788<br>(45,682)<br>441,106<br>1,003,393<br>1,003,393<br>403,544<br>599,849<br>1,003,393|
|---|---|---|---|---|



These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. L A Wright - Trustee 

The notes form part of these financial statements 

Page 22 



**WYSING ARTS CHARITY** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025** 

|2025<br>Notes<br>£<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>208,905<br>Net cash provided by operating activities<br>208,905<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>(126,664)<br>Interest received<br>9,332<br>Net cash (used in)/provided by investing activities<br>(117,332)<br>**Change in cash and cash equivalents**<br>**in the reporting period**<br>91,573<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>417,401<br>**Cash and cash equivalents at the end**<br>**of the reporting period**<br>508,974|2024<br>£<br>66,379<br>66,379<br>-<br>7,791<br>7,791<br>74,170<br>343,231<br>417,401|
|---|---|



The notes form part of these financial statements 

Page 23 



**WYSING ARTS CHARITY** 

## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025** 

## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**ACTIVITIES**||||||
|---|---|---|---|---|---|
||||2025||2024|
||||£||£|
|**Net income for the reporting period (as per the Statement of**||||||
|**Financial Activities)**|||119,310||37,375|
|**Adjustments for:**||||||
|Depreciation charges|||56,335||31,866|
|Interest received|||(9,332)||(7,791)|
|(Increase)/decrease in debtors|||(29,190)||29,690|
|Increase/(decrease) in creditors|||71,782||(24,761)|
|**Net cash provided by operations**|||208,905||66,379|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||||
||At 1/4/24||Cash flow|At 31/3/25||
|||£|£||£|
|**Net cash**||||||
|Cash at bank|417,401||91,573||508,974|
||417,401||91,573||508,974|
|**Total**|417,401||91,573||508,974|



## **2. ANALYSIS OF CHANGES IN NET FUNDS** 

The notes form part of these financial statements 

Page 24 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** 

## **1. LEGAL FORM** 

The charity is a registered charity registered in England and Wales number 1039555 and a company limited by guarantee number 02942151 having no share capital incorporated in England and Wales. 

Its registered office and principal place of business is at Fox Road, Bourn, Cambridge, Cambridgeshire, CB23 2TX. 

## **2. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

The accounts have been prepared on a going concern basis.  There are no material uncertainties about the charity's ability to continue. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

Donations are recognised on receipt.  Gift Aid is recognised in the same period as the donation to which it relates. 

Legacy income is recognised in full when the amount and timing can re quantified with reasonable accuracy. This is the earlier of the receipt of an interim distribution or the grant of probate. 

Grant income is recognised in full on receipt unless there are unfulfilled performance conditions that do not allow the income to be recognised.  In this case the grant is accounted for as a liability until the performance conditions have been met. 

Grant income is only deferred if the grant is time-related and relates partly or wholly to a post year-end time period. 

Income is shown net of VAT where applicable. 

Studio rental income is recognised in the period to which it relates. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Governance costs** 

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees, registration fees and legal costs. 

continued... 

Page 25 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **2. ACCOUNTING POLICIES - continued** 

## **Allocation and apportionment of costs** 

Costs are allocated between the activity relating to Exhibitions and Workshops where the cost is incurred in relation to the delivery of arts activities.  Costs are allocated to the Studios and Buildings activity where the costs relate to the provision of studio spaces or maintenance of the site. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

|Leasehold|- Over the length of the lease|
|---|---|
|Short leasehold|- 5% on cost|
|Improvements to property|- 20% on cost|
|Plant and machinery|- 20% on cost|
|Fixtures and fittings|- 20% on cost|
|Motor vehicles|- 20% on cost|



Tangible fixed assets costing more than £1,500 are capitalised and included at cost including any incidental costs of acquisition. 

In 2019, the lease on the land was extended by 20 years to expire in March 2048. This has been reflected in a change in the depreciation rates to write off the costs over the length of the new lease. 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company operates a defined contribution pension scheme.  Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Cash and bank and in hand** 

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be estimated or measured reliably.  Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

continued... 

Page 26 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **2. ACCOUNTING POLICIES - continued** 

## **Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **3. DONATIONS AND LEGACIES** 

|Donations<br>**4.**<br>**OTHER TRADING ACTIVITIES**<br>Cafe sales<br>Sales of books and artwork<br>**5.**<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**6.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Provision of subsidised<br>studio space<br>Studios and Buildings<br>Farmhouse residential rent Studios and Buildings<br>Space hire<br>Studios and Buildings<br>Other income<br>Studios and Buildings<br>Grants<br>Public Programme<br>Curatorial consultancy<br>Public Programme<br>Ticket sales<br>Public Programme<br>Other income<br>Public Programme<br>Grants received, included in the above, are as follows:<br>Arts Council England<br>Henry Moore Foundation<br>South Cambridgeshire District Council<br>The Ragdoll Foundation<br>British Art Network Research Group<br>Fluxus Art Projects<br>Carried forward||2025<br>£<br>30,057<br>2025<br>£<br>349<br>1,552<br>1,901<br>2025<br>£<br>9,332<br>2025<br>£<br>29,133<br>12,232<br>4,958<br>14,418<br>716,515<br>2,413<br>1,467<br>10,457<br>791,593<br>2025<br>£<br>385,173<br>-<br>160,000<br>-<br>-<br>7,082<br>552,255||2024<br>£<br>24,314<br>2024<br>£<br>180<br>3,988<br>4,168<br>2024<br>£<br>7,791<br>2024<br>£<br>30,533<br>8,250<br>2,321<br>5,233<br>584,114<br>2,158<br>665<br>11,714<br>644,988<br>2024<br>£<br>465,173<br>3,000<br>15,000<br>11,700<br>1,000<br>16,058<br>511,931|
|---|---|---|---|---|
||||||



continued... 

Page 27 



**WYSING ARTS CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **6. INCOME FROM CHARITABLE ACTIVITIES - continued** 

|2025<br>£<br>Brought forward<br>552,255<br>Cambridgeshire Community Fund<br>-<br>Growth Works<br>-<br>Freelands Foundation<br>50,000<br>John Armitage Charitable Trust<br>30,000<br>Japan House London Trust<br>-<br>Garfield Weston<br>50,000<br>GB Sasakawa<br>2,000<br>Raspberry Pi Foundation<br>32,260<br>716,515<br>The charity has also benefitted from Charitable Rate Relief.<br>**7.**<br>**RAISING FUNDS**<br>**Raising donations and legacies**<br>2025<br>£<br>General marketing costs<br>2,751<br>ECVAN Costs<br>1,950<br>4,701<br>**Costs to generate earned income**<br>2025<br>£<br>Development costs<br>3,081<br>Aggregate amounts<br>7,782<br>**8.**<br>**CHARITABLE ACTIVITIES COSTS**<br>Direct<br>Support<br>Costs (see<br>costs (see<br>note 9)<br>note 10)<br>£<br>£<br>Public Programme<br>725,351<br>10,073|2024<br>£<br>511,931<br>2,600<br>15,683<br>12,000<br>25,000<br>16,900<br>-<br>-<br>-<br>584,114<br>2024<br>£<br>4,230<br>281<br>4,511<br>2024<br>£<br>4,793<br>9,304<br>Totals<br>£<br>735,424|
|---|---|



continued... 

Page 28 



**WYSING ARTS CHARITY** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **9. DIRECT COSTS OF CHARITABLE ACTIVITIES** 

|Staff costs<br>Site running costs<br>Office administration<br>Space hire costs<br>Other costs<br>Programme costs<br>Training, recruitment & HR<br>Travel and motor expenses<br>Freelance costs<br>Depreciation<br>**10.**<br>**SUPPORT COSTS**<br>Public Programme|2025<br>2024<br>£<br>£<br>320,971<br>299,079<br>93,286<br>99,183<br>35,541<br>41,980<br>1,598<br>984<br>377<br>578<br>168,399<br>123,581<br>15,798<br>18,204<br>2,891<br>3,282<br>30,157<br>44,351<br>56,333<br>31,866<br>725,351<br>663,088<br>Governance<br>costs<br>£<br>10,073|
|---|---|



## **11. NET INCOME/(EXPENDITURE)** 

Net income/(expenditure) is stated after charging/(crediting): 

|Depreciation - owned assets<br>**12.**<br>**AUDITORS' REMUNERATION**<br>Fees payable to the charity's auditors for the audit of the charity's<br>financial statements|2025<br>£<br>56,335<br>2025<br>£<br>5,758|2024<br>£<br>31,866<br>2024<br>£<br>5,425|
|---|---|---|



## **13. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. 

continued... 

Page 29 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **13. TRUSTEES' REMUNERATION AND BENEFITS - continued** 

## **Trustees' expenses** 

During the year three trustees was reimbursed for expenses totalling £410 (2024: one trustee, £419). 

## **14. STAFF COSTS** 

|Wages and salaries<br>Social security costs<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Direct charitable|2025<br>£<br>290,064<br>19,611<br>11,296<br>320,971<br> <br>2025<br>12|2024<br>£<br>270,517<br>18,352<br>10,210<br>299,079<br>2024<br>10|
|---|---|---|



The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|||2025|2024|
|---|---|---|---|
|£60,001|- £70,000|1|-|



During the year the Key Management Personnel costs were considered by the Trustees to be £170,489. (2024: £177,585). 

|**15.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>**Charitable activities**<br>Studios and Buildings<br>Public Programme<br>Other trading activities<br>Investment income<br>Other income<br>**Total**<br>**EXPENDITURE ON**<br>Raising funds<br>**Charitable activities**<br>Studios and Buildings<br>Public Programme<br>**Total**|**ACTIVITIES**<br>Unrestricted<br>funds<br>£<br>24,314<br>46,337<br>521,610<br>4,168<br>7,791<br>35,484<br>639,704<br>463<br>98,183<br>481,562<br>580,208|Restricted<br>funds<br>£<br>-<br>-<br>77,041<br>-<br>-<br>-<br>77,041<br>8,841<br>1,000<br>89,321<br>99,162|Total<br>funds<br>£<br>24,314<br>46,337<br>598,651<br>4,168<br>7,791<br>35,484<br>716,745<br>9,304<br>99,183<br>570,883<br>679,370|
|---|---|---|---|



continued... 

Page 30 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

|**15.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**<br>Unrestricted<br>funds<br>£<br>**NET INCOME/(EXPENDITURE)**<br>59,496<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>344,048<br>**TOTAL FUNDS CARRIED FORWARD**<br>403,544<br>**16.**<br>**TANGIBLE FIXED ASSETS**<br>Leasehold<br>£<br>**COST**<br>At 1 April 2024<br>1,527,875<br>Additions<br>-<br>Disposals<br>-<br>At 31 March 2025<br>1,527,875<br>**DEPRECIATION**<br>At 1 April 2024<br>982,311<br>Charge for year<br>22,732<br>Eliminated on disposal<br>-<br>At 31 March 2025<br>1,005,043<br>**NET BOOK VALUE**<br>At 31 March 2025<br>522,832<br>At 31 March 2024<br>545,564|**- continued**<br> <br>Restricted<br>funds<br>£<br>(22,121)<br>621,970<br>599,849<br>Short<br>leasehold<br>£<br>60,950<br>-<br>-<br>60,950<br>55,963<br>3,048<br>-<br>59,011<br>1,939<br>4,987|<br>Total<br>funds<br>£<br>37,375<br>966,018<br>1,003,393<br>Improvement<br>to<br>property<br>£<br>44,804<br>125,428<br>(359)<br>169,873<br>44,804<br>25,085<br>(359)<br>69,530<br>100,343<br>-|
|---|---|---|
||||
||||
||||
||||
||||



continued... 

Page 31 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **16. TANGIBLE FIXED ASSETS - continued** 

|**COST**<br>At 1 April 2024<br>Additions<br>Disposals<br>At 31 March 2025<br>**DEPRECIATION**<br>At 1 April 2024<br>Charge for year<br>Eliminated on disposal<br>At 31 March 2025<br>**NET BOOK VALUE**<br>At 31 March 2025<br>At 31 March 2024|Plant and<br>machinery<br>£<br>93,789<br>-<br>(13,336)<br>80,453<br>82,053<br>5,223<br>(13,336)<br>73,940<br>6,513<br>11,736|Fixtures<br>and<br>fittings<br>£<br>49,467<br>1,236<br>(2,043)<br>48,660<br>49,467<br>247<br>(2,043)<br>47,671<br>989<br>-|Motor<br>vehicles<br>£<br>5,193<br>-<br>-<br>5,193<br>5,193<br>-<br>-<br>5,193<br>-<br>-|Totals<br>£<br>1,782,078<br>126,664<br>(15,738)<br>1,893,004<br>1,219,791<br>56,335<br>(15,738)<br>1,260,388<br>632,616<br>562,287|
|---|---|---|---|---|



In the event of a disposal of the leasehold property occupied by Wysing Arts Charity or cessation of trading, a proportion of funding received towards the development of the property is potentially repayable, secured by a legal charge over buildings on the property. 

## **17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Other debtors<br>VAT<br>Prepayments and accrued income|2025<br>£<br>15,793<br>5,475<br>77,309<br>98,577|2024<br>£<br>66,744<br>363<br>2,280<br>69,387|
|---|---|---|



continued... 

Page 32 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** 

|Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income|2025<br>£<br>104,017<br>4,065<br>2,895<br>6,487<br>117,464|2024<br>£<br>26,171<br>5,184<br>2,771<br>11,556<br>45,682|
|---|---|---|



Supplier invoices are paid within the supplier's agreed terms, typically within 30 days.  Social security and other taxes are paid by the 19th of the following month. 

Other creditors are paid when due - credit card in the following month, pensions at the beginning of the new month and studio deposits on vacation of the studio, if repayable. 

## **19. MOVEMENT IN FUNDS** 

|**MOVEMENT IN FUNDS**|||||
|---|---|---|---|---|
|**Unrestricted funds**<br>General fund<br>Capital spend<br>Equipment & Maintenance<br>Personnel<br>Programme Fund<br>Website<br>Capital Expenditure Reserve<br>Core Operational Expenditure Reserve<br>Strategic and Development Reserve<br>One-off Risk Management Reserve<br>**Restricted funds**<br>Capital Development various funders<br>ECVAN: New Geographies<br>British Council Net/Work Residency<br>Art fund<br>Growth Works<br>FLUXUS / Magnetic<br>Solar Panels<br>Syllabus: Freelands Foundation<br>Creative Youth Council<br>Garfield Weston Foundation<br>Raspberry Pi Foundation Residencies<br>Rural England Prosperity Fund<br>**TOTAL FUNDS**|At 1/4/24<br>£<br>192,544<br>30,000<br>60,000<br>16,000<br>75,000<br>30,000<br>-<br>-<br>-<br>-<br>403,544<br>550,550<br>2,551<br>52<br>10,464<br>7,003<br>-<br>15,000<br>2,843<br>11,386<br>-<br>-<br>-|Net<br>movement<br>in funds<br>£<br>38,988<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>38,988<br>(48,044)<br>(892)<br>(52)<br>(4,058)<br>-<br>(5,029)<br>-<br>(3,913)<br>(5,168)<br>49,352<br>18,816<br>79,310|Transfers<br>between<br>funds<br>£<br>(171,997)<br>(30,000)<br>(60,000)<br>(16,000)<br>(75,000)<br>(30,000)<br>70,000<br>190,000<br>60,000<br>70,000<br>7,003<br>111,326<br>-<br>-<br>-<br>(7,003)<br>-<br>(15,000)<br>-<br>-<br>(21,956)<br>-<br>(74,370)|At<br>31/3/25<br>£<br>59,535<br>-<br>-<br>-<br>-<br>-<br>70,000<br>190,000<br>60,000<br>70,000<br>449,535<br>613,832<br>1,659<br>-<br>6,406<br>-<br>(5,029)<br>-<br>(1,070)<br>6,218<br>27,396<br>18,816<br>4,940<br>673,168<br>1,122,703|
||599,849<br>1,003,393|80,322<br>119,310|(7,003)<br>-||



continued... 

Page 33 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **19. MOVEMENT IN FUNDS - continued** 

Net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Capital Development various funders<br>ECVAN: New Geographies<br>British Council Net/Work Residency<br>Art fund<br>FLUXUS / Magnetic<br>Syllabus: Freelands Foundation<br>Creative Youth Council<br>Garfield Weston Foundation<br>GB Sasakawa<br>Raspberry Pi Foundation Residencies<br>Rural England Prosperity Fund<br>**TOTAL FUNDS**|Incoming<br>Resources<br>Movement<br>resources<br>expended<br>in funds<br>£<br>£<br>£<br>641,174<br>(602,186)<br>38,988<br>-<br>(48,044)<br>(48,044)<br>-<br>(892)<br>(892)<br>-<br>(52)<br>(52)<br>-<br>(4,058)<br>(4,058)<br>7,082<br>(12,111)<br>(5,029)<br>50,000<br>(53,913)<br>(3,913)<br>-<br>(5,168)<br>(5,168)<br>50,000<br>(648)<br>49,352<br>2,000<br>(2,000)<br>-<br>32,260<br>(13,444)<br>18,816<br>80,000<br>(690)<br>79,310<br>221,342<br>(141,020)<br>80,322<br>862,516<br>(743,206)<br>119,310|
|---|---|



continued... 

Page 34 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **19. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>Capital spend<br>Equipment & Maintenance<br>Personnel<br>Programme Fund<br>Website<br>**Restricted funds**<br>Capital Development various funders<br>ECVAN: New Geographies<br>Creative Youth Council<br>British Art Network Research<br>ECVAN: New Histories<br>Fenton Arts Trust: Residencies<br>Art fund<br>Growth Works<br>Solar Panels<br>Syllabus: Freelands Foundation<br>**TOTAL FUNDS**|Net<br>movement<br>At<br>At 1/4/23<br>in funds<br>31/3/24<br>£<br>£<br>£<br>133,048<br>59,496<br>192,544<br>30,000<br>-<br>30,000<br>60,000<br>-<br>60,000<br>16,000<br>-<br>16,000<br>75,000<br>-<br>75,000<br>30,000<br>-<br>30,000<br>344,048<br>59,496<br>403,544<br>576,329<br>(25,778)<br>550,551<br>2,551<br>-<br>2,551<br>18,162<br>(6,775)<br>11,387<br>-<br>52<br>52<br>128<br>(128)<br>-<br>3,500<br>(3,500)<br>-<br>21,300<br>(10,838)<br>10,462<br>-<br>7,003<br>7,003<br>-<br>15,000<br>15,000<br>-<br>2,843<br>2,843<br>621,970<br>(22,121)<br>599,849<br>966,018<br>37,375<br>1,003,393|
|---|---|



continued... 

Page 35 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **19. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Capital Development various funders<br>Creative Youth Council<br>British Art Network Research<br>ECVAN: New Histories<br>Fenton Arts Trust: Residencies<br>Art fund<br>Growth Works<br>FLUXUS / Magnetic<br>Solar Panels<br>Syllabus: Freelands Foundation<br>Henry Moore Foundation<br>Creative Youth Council<br>**TOTAL FUNDS**|Incoming<br>Resources<br>Movement<br>resources<br>expended<br>in funds<br>£<br>£<br>£<br>639,704<br>(580,208)<br>59,496<br>-<br>(25,778)<br>(25,778)<br>11,700<br>(18,475)<br>(6,775)<br>1,000<br>(948)<br>52<br>-<br>(128)<br>(128)<br>-<br>(3,500)<br>(3,500)<br>-<br>(10,838)<br>(10,838)<br>15,683<br>(8,680)<br>7,003<br>16,058<br>(16,058)<br>-<br>15,000<br>-<br>15,000<br>12,000<br>(9,157)<br>2,843<br>3,000<br>(3,000)<br>-<br>2,600<br>(2,600)<br>-<br>77,041<br>(99,162)<br>(22,121)<br>716,745<br>(679,370)<br>37,375|
|---|---|



## **Purposes of Restricted Funds** 

## **ECVAN: New Geographies** 

Funding towards new commissions and outreach projects across the East of England led by Wysing as chair and co-ordinator of ECVAN. 

## **ECVAN: New Histories** 

Research and development funding for an ECVAN partner commissioning project - expanding on New Geographies - to platform stories within the region through community engaged public art. 

## **Art Fund** 

Funding from the Art Fund 'Reimagine' programme strand, to develop innovative on-site commissioning. 

## **British Art Network Research Group** 

Funding towards a programme of activity on the topic of Captioning in British Art between January and September 2022. 

## **Capital Development - Various funders** 

Capital funding towards the cost of the new studio and reception buildings, including improvements made in 2025. All funding to date is spent, and the fund balance consists of fixed assets being depreciated over their useful economic life. 

## **Creative Youth Council** 

Funding from the Esmee Fairbairn Foundation and the Ragdoll Foundation towards project costs for creating a pathway of sustained involvement and development in creative arts for young people in rural communities in Cambridgeshire with the intention of enabling more marginalised young people to participate in creative opportunities. 

continued... 

Page 36 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **19. MOVEMENT IN FUNDS - continued** 

## **Esmée Fairbairn Foundation** 

Funding to deliver a Children and Young Peoples' Programme over three years. 

## **Fenton Arts Trust - Residencies** 

Funding to support two residencies for early career artists at Wysing. 

## **Garfield Weston** 

Funding from the Garfield Weston Foundation for capital development. 

## **Growth Works** 

Funding from the Growth Works Programme, funded by the Local Growth Fund for investment activity. 

## **Japan Residency Research** 

Funding from GB Sasakawa towards a research trip to Japan to explore residency opportunities for artists who support other artists. 

## **FLUXUS / Magnetic** 

Funding from Fluxus Art Projects towards "Magnetic", a joint Franco-UK initiative that brings together ten institutions to create a new programme of artist residencies of eight weeks each. 

## **Raspberry Pi Foundation Residencies** 

Funding from Raspberry Pi for a six month open call residency. 

## **Rural Prosperity** 

Funding from the South Cambridgeshire District Council Rural Prosperity in England fund towards a more accessible and greener Wysing. 

## **Solar Panels** 

A Zero Carbon Communities grant from South Cambridgeshire District Council for the purchase of Solar Panels. 

## **Syllabus: Freelands Foundation** 

£50,000 grant from the Freelands Foundation, payable over a ten year period, to transform "Syllabus", Wysing's alternative arts education programme, a programme that supports diverse and underrepresented artists to develop their practice and networks. 

## **Henry Moore Foundation** 

Funding from Henry Moore Foundation for "We Are Here", a multi-site public sculpture commissioned by Rafal Zajko. 

## **Creative Youth Festival** 

Funding from Cambridgeshire Community Foundation to enable Wysing's Creative Youth Council to co-programme and co-run a free Youth Festival for their peers, largely marginalised young people living in rural Cambridgeshire. 

## **Purpose of designated funds** 

**One-off Risk Management Reserve** - held to protect the charity against short-term, unplanned financial risks or shocks. 

**Core Operational Expenditure Reserve** - supports the continued delivery of core activities in the event of cash flow disruption or funding delays. 

**Strategic and Development Reserve** - to allow for forward-looking investment aligned with Wysing's mission and business plan. 

continued... 

Page 37 



**WYSING ARTS CHARITY** 

**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025** 

## **19. MOVEMENT IN FUNDS - continued** 

**Capital Expenditure Reserve** - for the acquisition, maintenance, and improvement of Wysing's physical and digital infrastructure. 

**Capital spend (no longer used)** - to be used for feasibility costs associated with sustainable capital improvements. 

**Equipment and Maintenance (no longer used)** - to replace essential equipment and larger-scale maintenance work on buildings around the Wysing site. 

**Programme Fund (no longer used)** - reserve held against funding cuts and unachieved income alongside one-off projects including publications and website improvements. 

**Personnel Fund (no longer used)** - to cover costs associated with long term sickness cover and legal costs in the event of disputes. 

**Website Fund (no longer used)** - to cover the costs of developing and updating the website. 

## **Transfers between funds** 

A transfer of £7,003 was made from the Growth Works Fund to the General Fund to reflect previous years misallocations of expendiuture to unrestricted funds which could have been charged to this fund. 

## **20. EMPLOYEE BENEFIT OBLIGATIONS** 

The charity operates a  defined contribution scheme and contributions are charged to the Statement of Financial Activities as they accrue.  The charge for the year was £11,296 (2024: £10,210). 

## **21. RELATED PARTY DISCLOSURES** 

During the year, and the previous year, no Trustees made donations. 

## **22. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES** 

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 

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**WYSING ARTS CHARITY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Other trading activities**<br>Cafe sales<br>Sales of books and artwork<br>**Investment income**<br>Deposit account interest<br>**Charitable activities**<br>Provision of subsidised studio space<br>Farmhouse residential rent<br>Space hire<br>Grants<br>Curatorial consultancy<br>Ticket sales<br>Other income<br>**Other income**<br>Exhibition tax credit<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Raising donations and legacies**<br>General marketing costs<br>ECVAN Costs<br>**Costs to generate earned income**<br>Development costs<br>**Charitable activities**<br>Wages<br>Social security<br>Pensions<br>Site running costs<br>Office administration<br>Carried forward|2025<br>£<br>30,057<br>349<br>1,552<br>1,901<br>9,332<br>29,133<br>12,232<br>4,958<br>716,515<br>2,413<br>1,467<br>24,875<br>791,593<br>29,633<br>862,516<br>2,751<br>1,950<br>4,701<br>3,081<br>290,064<br>19,611<br>11,296<br>93,286<br>35,541<br>449,798|2024<br>£<br>24,314<br>180<br>3,988<br>4,168<br>7,791<br>30,533<br>8,250<br>2,321<br>584,114<br>2,158<br>665<br>16,947<br>644,988<br>35,484<br>716,745<br>4,230<br>281<br>4,511<br>4,793<br>270,517<br>18,352<br>10,210<br>99,183<br>41,980<br>440,242|
|---|---|---|



This page does not form part of the statutory financial statements 

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**WYSING ARTS CHARITY** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025** 

|**Charitable activities**<br>Brought forward<br>Space hire costs<br>Other costs<br>Programme costs<br>Training, recruitment & HR<br>Travel and motor expenses<br>Freelance costs<br>Depreciation<br>**Support costs**<br> **Governance costs**<br>Auditors' remuneration<br>Sundries<br>Professional fees<br>Total resources expended<br>**Net income**|2025<br>£<br>449,798<br>1,598<br>377<br>168,399<br>15,798<br>2,891<br>30,157<br>56,333<br>725,351<br>5,758<br>903<br>3,412<br>10,073<br>743,206<br>119,310|2024<br>£<br>440,242<br>984<br>578<br>123,581<br>18,204<br>3,282<br>44,351<br>31,866<br>663,088<br>5,425<br>1,253<br>300<br>6,978<br>679,370<br>37,375|
|---|---|---|



This page does not form part of the statutory financial statements 

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