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← Camden Arts Centre

2025-03-31-accounts

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31[ST] MARCH 2025

Legal Name: CAMDEN ARTS CENTRE (A Company Limited by Guarantee)

Charity No. 1065829 Company No. 02947191

Supported by:

Camden Art Centre Company Information

Board of Trustees : Robert Baker (Appointed 6.12.24) Adele Bezzetto (Appointed 21.10.24) Eliza Bonham-Carter (Vice Chair) (Resigned 15.06.24) Tia Counts James Fobert Joshua Gaskin (Resigned 21.10.24) Guy Halamish (Chair) Anne Hardy (Resigned 21.10.24) Sarah Hilliam Tam Joseph (Appointed 21.10.24) Porus Jungalwalla (Treasurer) Allison Katz Eva Langret (Vice Chair) (Appointed 21.10.24) Merissa Marr (Resigned 21.10.24) Livia Paggi (Appointed 21.10.24) Mildred Palley (Appointed 20.10.25) Ben Rawlingson-Plant (Resigned 15.06.24) Karen Sanig Jonathan Simpson Senior Management Team : Director: Martin Clark Deputy Director: Moya Malekin Registered Office and Camden Arts Centre Business Address Arkwright Road London NW3 6DG The legal name is Camden Arts Centre, however we now operate under the name Camden Art Centre, which is used throughout this document. Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane London EC1Y 0TG Bankers Barclays Bank Plc 131 Finchley Road London NW3 6HY Solicitors The Charity Team Russell-Cooke Solicitors 2 Putney Hill London SW15 6AB Bates Wells 10 Queen Street Place London EC4R 1BE

Camden Art Centre Contents Page

Page
Trustees’ Report 1 - 37
Independent Auditor’s Report 38-40
Statement of Financial Activities 41
Balance Sheet 42
Statement of Cash Flows 43
Notes to the Financial Statements 44 - 61

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Executive Summary

In 2024-25 we welcomed 94,195 (23/24: 102,603) people to our building and programmes, with our exhibitions programme continuing to receive positive responses from press and public. Our learning and public programmes engaged 10,482 people over the year, over 268 sessions, including 4,800 children and young people under 20. We presented 31 Public Programme and HE events over the year working with 118 artists, 53% (60) of whom have protected characteristics.

We were delighted to sign and exchange agreement with London Borough of Camden for a new 99-year building lease on our iconic Grade II listed building in December 2024, and met our £1.9m fundraising target in May 2025. This milestone achievement which has been a priority for the organisation ensures the continuation of our work with artists and communities for the next 100 years. This now enables us to focus on the future development of the building exploring the potential of our site and how we model it into a financially resilient and environmentally sustainable arts centre, supported by a mix of public funding, philanthropy, and earned income, with fit for purpose learning spaces. As part of this review of business and asset development, we commissioned Tony Fretton and David Owen Architects to develop a master vision for future development and we will further refine these plans and expect to commence fundraising in 2025/26.

We continue to adapt to the 36% reduction of our Arts Council England National Portfolio Grant whilst maintaining the high quality of our exhibitions, residency and public programmes and meeting the needs of our local communities through our learning and volunteer programmes. Whilst we have made major progress through 2024/25 this is only the start of our journey to working under lower levels of public funding. Our ability to manage this remains reliant on continuing support from our funders and supporters. We have utilised our Transform grant from ACE to invest in business development, with a renewed focus on our commercial activity particularly around partnerships, events and courses alongside our retail activity. A Trading Subsidiary wholly owned by the Charity was incorporated in February 2025, operational from April 2025 and exists to raise funds for the Charity to use for its charitable purposes.

As part of the Bloomberg Digital Accelerator programme we updated our digital strategy and invested in equipment, infrastructure, training and specialist staff provision to enrich our digital and on-demand content and expand audiences.

We welcomed 5 new trustees to further support our goals. Our focus going forwards remains on delivery of broad ranging programmes of excellent standards, diversity and innovation across all operations, talent development and collaborative partnerships, and financial and environmental sustainability.

Principal Activities/Aims and Objectives

Since 1965 Camden Art Centre has been a place for art and the people that make it. Rooted in our local community and internationally acclaimed, we foster a sense of belonging and a deeper relationship to art. We aim to push boundaries and connect people to their own creativity through our exhibitions, residencies, events and learning programmes. Originally built as a public library, the building now combines historic architecture with open, modern spaces and a secluded garden with free entry for all. Camden Art Centre has always led the way supporting artists and audiences to create and engage with the most vital and inspiring contemporary art and culture today.

Our vision

For us all to be empowered to explore our creativity and to deepen our enquiry of the contemporary world

Our mission:

To be a space to look, make, think and talk about the most vital and inspiring contemporary art and culture today; a place to connect to your creativity.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Our values are to be: Open Thoughtful Challenging Rigorous and to centre creativity in everything we do.

Camden Art Centre has championed over-looked and under-represented artists from every generation, from early shows like ‘Contemporary African Art’ in 1970, to the very first UK exhibitions of then littleknown figures like Hilma af Klint in 2006, Forrest Bess in 2022 and Martin Wong in 2023. For over 50 years, we have worked ahead of the curve, giving early support and exposure to artists including Phyllida Barlow, Sophie Calle, Martin Creed, Mary Heilmann, Kerry James Marshall, Mike Nelson, Laura Owens, Veronica Ryan, Yinka Shonibare, Kara Walker, Christopher Wool and more recently Allison Katz, Walter Price and Mohammed Sami. Our world renowned exhibitions programme supports artists at every stage of their careers, enabling them to make work that is relevant for today: brave, challenging, engaging and vital.

The Trustees believe that the continued commitment to education and accessibility at Camden Art Centre fulfil the Charity Commission’s requirements to give due consideration to Charity Commission published guidance on the operation of the Public Benefit requirement, including the guidance ‘Public Benefit: Running a Charity (PB2)’. The Board reviews the Centre’s aims and objectives in the light of this guidance.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Annual Review 2024/25

The organisation’s key objectives are:

These objectives are realised through Camden Art Centre’s activities and facilities, which include:

Our activity has been reviewed against the Arts Council England ‘Let’s Create’ strategy for 2020-2030, across Outcomes and Elements as updated for 2025 below:

Outcome: Creative People

A - Supporting people at all stages of their lives to design, develop and increase their participation in highquality creative activities.

B - Promoting creative opportunities in the local community to people at all stages of their lives.

C - Provide high-quality early years activities that reach families from a wider range of backgrounds.

D - Widening and improving opportunities for children and young people to take part in creative activities inside schools.

E - Widening and improving opportunities for children and young people to take part in creative activities outside schools

Outcome: A Creative and Cultural Country

L - Supporting new types of creative practice, new forms of cultural content and new ways of reaching new and existing audiences and participants

M1 - Collaborating with other cultural organisations and/or with the commercial creative industries and/or with further and higher education to (1) sustain and grow existing cultural infrastructure.

M2 - Collaborating with other cultural organisations and/or with the commercial creative industries and/or with further and higher education to (2) promote R&D, innovation and new skills in the development of new business models

N - Strengthening the international connections of cultural organisations and creative and cultural practitioners, including through collaboration and touring

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

O - Bringing world class international culture to audiences in England as well as connecting communities internationally through culture

P - Giving more opportunities to people to start a professional career in the creative-industries, especially those who are currently under-represented.

Q - Ensuring people have opportunities to sustain their careers and fulfil their potential in the creative industries, especially those who are currently under-represented

Staff and trustees also work within and towards 4 Investment Principles: Inclusivity and Relevance; Ambition and Quality; Dynamism; Environmental Responsibility.

SORP
designation ↓		 Arts Council
Outcomes →		 Creative People A Creative and
Cultural Country
Exhibitions Exhibitions √
Elements: L, M1, O, Q.
Public
Programme
(including HE
Partnerships)		 √
Elements: L, M1, P, Q.
Residencies √
Elements: L, M1, N, Q.
Education Learning:
Schools		 √
Elements: A, B, D, F, G
Learning:
SEN		 √
Elements: A, D, F, G, H		 √
Elements: Q
Learning:
Youth		 √
Elements; A, B, E, G, H
Learning:
Families		 √
Elements: A, B, C, E
Volunteer
Programme:		 √
Elements: A, B, H

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Achievements and Performance

Exhibitions:

During 2024/25 our exhibitions programme involved the work of 6 artists from Britain and abroad over 4 exhibition slots.

This exhibition The Bough Breaks by Matthew Krishanu (b. 1980, Bradford, UK) was the London-based painter's most significant exhibition to date. The artist’s atmospheric, pared-back compositions depict scenes from his life, including his childhood years in Bangladesh growing up with his brother and their parents who were Christian missionaries. In the paintings seemingly familiar narratives are alluded to but destabilised, and the viewer’s own projections are called upon to fulfil the interpretive loop, raising questions about childhood, religion, race, power and the legacies of empire. Working in series, one painting segues into the next as a natural telling of the artist’s own journey through the joys and sorrows of life, with deeply personal subject matter that speaks to the human condition in all its complexity.

Intimate stories are told through layers of memory, imagination, and conversations with the history of painting. Drawing on influences from Indian miniature painting to El Greco, Noah Davis and the Ajanta cave paintings, he explores how representations in the canon of Western art have shaped our collective unconscious around questions of race and gender.

The artist describes his work on paper as the heartbeat of his practice and the exhibition begins with a series of intimate paintings in oil on card from 2010 that have since come to inform the expansive world of his painting on larger scales-recurrent motifs include the psychological exploration of childhood, relationships and questions about religion and identity. Many of the paintings in Gallery One depict Krishanu with his brother, two boys of mixed heritage, born to an Indian mother and British father. Growing up between India, Bangladesh and Yorkshire, England where the artist was born, the compositions contextualise the two brothers in the landscapes and interiors of these significant places; situating their existence and lived experiences as an insight into the colonial history of India and Christian mission. In other works from the Two Boys series, the artist and his brother are depicted amongst the majestic limbs of the banyan tree, painted in translucent layers and running drips of paint. Elsewhere, the artist's daughter and late wife are shown perched in a tree in Epping Forest-the interconnected branches, roots and the flow of life through the figure of a tree seemingly a natural metaphor for family life. The exhibition's title alludes to the dark undertones of the nursery rhyme 'Rockabye Baby' and invites many interpretations, not least the potential failure of societal structures that should provide protection and support.

In Gallery Two a group of three large paintings from the Mission series depicts the artist's mother (a theologian) and father (a Christian priest who worked for a missionary organisation in Bangladesh) in familiar, yet strange, ecclesiastical settings-blessing, ordination, and preaching. These sit alongside works from the Holy Family series which include portraits of Bengali Christian bishops, nuns and priests-a counterpoint to the ubiquitous European depictions of White Christian figures perpetuated in Western art.

On the occasion of this exhibition, a new File Note essay was commissioned by journalist Bisidha Mamata, which provided a compelling and personal examination of the emotional and personal resonance contained within Matthew’s paintings.

During the show, Krishanu was in conversation with writer and editor, Allie Biswas about his Mission, Holy Family, and House of God painting series.

Preview press included two studio interviews by Ocula and Apollo, as well as previews in Art Basel, Art Quarterly (print) and TimeOut among others. The exhibition was reviewed by TimeOut (★★★★), Studio International, Artsy, Art Monthly (print), Plinth, Seen & Unseen and The Church Times, London Art

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Roundup—and well received in all of them. It was also highlighted in ‘best exhibition’ roundups by The i, TimeOut, and The Standard.

“One of the most distinctive British painters working today, Matthew Krishanu creates emotionally layered, enigmatic and sometimes politically pointed works characterised by simple compositions and plain colour schemes. Paintings are his way of exploring subjects as wide-ranging as colonialism, grief and the history of art.”

“I loved those paintings in the show. They are so full of tenderness, and so immediate, sensitive, delicate and strong.”

“That’s the most striking show I have seen in a long time.”

– visitor feedback

Camden Art Centre was delighted to present a major solo exhibition Animals to Remember Uganda by London based artist Andrew Omoding (b. 1987, Uganda), following the success of his residency at the Centre in 2019. Working site-responsively, his largely autobiographical works emerge intuitively -reclaiming abandoned materials from his immediate surroundings, Omoding layers, weaves, threads, binds and wraps them into vibrant assemblages of contrasting colour, texture and form.

This exhibition evoked memories of his early childhood growing up in Uganda. Working on-site for a period of production leading into the exhibition, he repurposed abandoned materials and objects to conjure the animals of East Africa in an ambitious series of sculptures, presented alongside textile works and performance documented in a new film in the Reading Room.

Led by an inquisitive nature and discerning eye, Omoding salvages materials then choreographs them in complex structures that sit between figuration and abstraction. In Gallery Three, he took inspiration from cattle in Uganda for two largescale sculptures whose weight and substance firmly root them to the ground. Elsewhere, African Antelope appear to be on a journey from one place to another, and two fish are articulated in metalwork.

Spools that store fibres and threads, and much larger scale equivalents that have an industrial purpose, are a recurring motif in the installation, combined with bicycle parts, vibrant textiles, fibres and yarns. He binds and wraps these materials with an intuitive yet systematic approach to colour, texture and form, creating complex sculptures balancing volume, weight and spatial values.

Omoding has an affinity with, and compassion for, the animals he evokes. In the Reading Room, a new film created in collaboration with LUCA Productions captures him performing with his bird sculptures on Primrose Hill. Omoding wears a vibrant costume that pays homage to the colour and plumage of the macaws he witnessed Chucky Yi-'The Parrot Man of Primrose Hill'-fly across the park. Sound artist and poet Axel Kacoutie composed the audio for the film, answering Omoding's improvisational stories and sounds in a kind of 'call-and-response', bringing their own associations into the mix-outtakes and samples of African diasporic music, including gospel, jazz and R&B.

Alongside the exhibition, we presented a new File Note essay by Marc Steene, which considers the breadth of Omoding’s practice as it relates to his background and current work with Action Space.

In a workshop, Camera to look, to make music held, Omoding invited participants to create DIY cameras and instruments from everyday materials, bringing his captivating storytelling and songs to life.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

The exhibition was previewed in Mousse, highlighted in best exhibition roundups by Crafts and The Evening Standard, and Hector Campbell’s Shock of the Now newsletter, and included by Katy Hessel in an article for The Guardian on Judith Scott.

“Outstanding exhibition.”

“His sculptures touch your soul”

“This show is so amazing! Can't stop looking at sculptures, every tiny detail is so interesting and so wellconnected with others!”

– visitor feedback

All Rendered Truth was the first solo exhibition in the UK by American artist and musician Lonnie Holley (b.1950, Birmingham, Alabama) in more than twenty years. Following an exhibition at IKON Gallery in 2014, and his inclusion in group exhibitions at Turner Contemporary ( We Will Walk ) and the RA ( Souls Grown Deep Like the Rivers ), this ambitious exhibition gave access to some of the less-known aspects of his practice at a moment when interest in his work is growing and included new and recent work in painting, sculpture and sound. His works—multimedia assemblages that often combine man-made materials and detritus—serve as thematic tools that reflect his investment in aesthetic traditions, narratives of futurity, and the inherent complexity that resides in found objects. He works with an improvisational creativity, transforming materials and objects into complex figurations that carry histories of Black tradition and culture.

Active across more than four decades, Holley is recognised as an important figure in the Black Art tradition from the southern states of America, as well as a significant artist in the mainstream of international twentieth century and contemporary art. He has a visionary capacity to intuit and reveal to others the significance, symbolism and meaning of the overlooked and discarded. He learned how to make art as a child in the ‘creeks and ditches’ around his home in Alabama where he would dig for worms and find buried objects. As if connected to the regenerative cycles of decomposing organic matter in the soil, and in an act of recuperation, he introduces a redemptive aspect to rejected objects, giving them dignity and new life.

The exhibition began in the Central Space with an installation of small sculptural assemblages selected during a visit to his studio in Atlanta. These modestly scaled works highlight Halley's spontaneous energy and improvisational spirit. Across Galleries One and Two, a group of monumental new sculptures and large-scale paintings were brought together alongside new works on paper. A recurring motif of faces seen in profile repeats across many of his paintings, as well as his 'drawings in space’— works made with twisted wire, a material Holley returns to signifying connection, communication and networking, as well as danger, containment, and incarceration. These composite, multi-layered portraits honour his ancestral lineage, including Yoruba and Native American heritage-the lives that have gone before and that are carried in his DNA. In the Reading Room, Holley's 2019 film I Snuck Off The Slave Ship combined archival footage of his earliest work carved from sandstone, with music from his 2018 LP MITH , taking viewers on a journey through his life and work. Whilst being deeply rooted to a specific, traumatic place and past, Holley speaks with hope and humility to universal concerns, projecting an inspirational message about how to live a life well and to prepare a world for future generations. The work speaks powerfully about our shared humanity, but also what is beyond the human condition, expressed through his deep love of the natural world which extends to other organisms, life-forms, the planets and stars. As the artist often asserts, his work gives a ‘thumbs up to mother universe’.

In order to mitigate the environmental impact of shipping large works from Holley’s studio in Atlanta, we facilitated a month-long production residency in Suffolk, April 2024 where he produced much of the larger sculptural works that featured in the show—including Nine Notes and Without Skin—in addition to all of the painting and most works on paper.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

A celebrated musician, Holley also performed a live concert at Camden Art Centre on 5 July.

Lonnie’s show was given wide and positive coverage, including the Guardian, Time Out, Studio International, the cover story for Art Monthly, featured in the Telegraph’s 10 essential exhibitions to see this summer , Dazed’s Art shows to leave the house for in September 24 , and the Monocle on Culture broadcast, which referred to All Rendered Truth as “a true standout of London’s summer arts slate”.

“It’s raw, inspiring and absolutely joyous”

“By digging through the refuse of society, the decaying bones of America, and improvising with it, Holley can tell stories that need telling. He reconstitutes and reconfigures the world around him, and the results feel powerful, necessary and often beautiful.”

“This deeply humanistic exhibition clearly merits celebration and leaves me spellbound still.”

"Hollies work is incredible, just came in on the off chance, but this is great! "

"This show was so inspiring. It's great to see all these themes and made me feel inspired to write.”

"The exhibition is so unpretentious and inviting. Lonnie's film moved me to tears."

– visitor feedback

This major survey of work by Nicola L. (b. 1932, El Jadida, Morocco, d. 2018) was the first time the full breadth of her practice has been explored in the UK and Europe. Often celebrated in the context of Pop Art, Nouveau Realism, Feminism and design, there had yet to be an in-depth exploration of the multilayered and expansive nature of her practice which ranged into cosmology, environmental concerns, spirituality, mortality, sexuality, soft sculpture, activism and political resistance. Encompassing sculpture, performance, painting, collage and film—all of which carry an air of wit, playfulness, and radical subversion—the show was an opportunity to experience all aspects of Nicola L.’s multidisciplinary practice.

A significant group of the artist’s ‘pénétrables’ were shown along with performance documentation. Having trained as painter, Nicola made an abrupt departure from the classical constraints of the medium in the 1960s and began a radically different body of work inspired by skin. The textile sculptures she then made were intended as performative or participatory works – with forms that people could insert limbs or heads into, becoming one with the artwork, and in some cases with other performers, as one single organism. This was a political gesture – all people united in one skin, regardless of ethnicity or gender. Video documentation of The Blue Cape performed in Cuba, China and at the Venice Biennale were shown along with the Red Coat performed in multiple locations including most recently London on the occasion of the work’s display at Tate Modern in 2015.

Many of the artist’s large-scale functional objects appeared through the show, including sofas and commodes. Taking furniture as their basis, her sculptures expand into large-scale soft pliable forms like feet or full (but dismembered) bodies intended as sofas and lacquered wooded cabinets with the silhouette of a stereotypical female torso. The exaggerated, oversized and caricatured shapes are imbued with a political commentary on equality, collectivity and the place, particularly for women, within society. Her concern with feminist politics continues in another major series included in the exhibition: ‘The Femme

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Fatale’ (1995) – paintings and collage on bed sheets memorialising women whose lives ended in tragedy or violence, among them Eva Hesse, Marilyn Monroe, Billie Holiday and Ulrike Meinhof.

The exhibition integrated the artist’s work in moving image which became a focus for her from 1977 onwards, including a feature film shot in Ibiza, Les Têtes sont Encore Dans L’île (The Heads are Still in the Island) with Terry Thomas and Pierral, and documentaries touching on diverse subjects from the punk-rock band Bad Brains, the activist Abbie Hoffman and the Chelsea Hotel.

The exhibition was initiated by Camden Art Centre and we subsequently brought together a group of European partner institutions where the exhibition travelled; Frac Bretagne, Rennes, France; Kunsthalle Wien, Austria; and finally, Museion–Museum of Modern and Contemporary Art, Bolzano/Bozen, Italy, where the exhibition will come to an end in early 2026.

The exhibition is accompanied by a new monographic publication, and a file note with an essay written by Fanny Singer.

"Such a great show. I love the scale of her works. They're sophisticated but you understand her personality. This has really opened up something for me, thank you.”

“It's made me understand feminist art and the 1960s in a whole new way.”

"This is the best art I've seen in ages... Wow!"

“Love her material language and cross disciplinary way of making, really relate to that.”

– visitor feedback

Press feedback was wide and positive, including coverage in the Guardian, Financial Times, The Art Newspaper, Time Out, Frieze London publication, Mousse Magazine, The Toe Rag, World of Interiors and front page of the FT Weekend ‘House and Home’ supplement placing her work in a broader context of feminist art inspired by ‘furniture’ and functionality.

“Pop and avant garde sensibilities join forces in this playful show, full of giant limbs, wearable furniture and bare bottoms.”

“...an air of wit, playfulness, and radical subversion—the exhibition is an unprecedented opportunity to experience the full breadth of Nicola L.’s multidisciplinary practice.”

Jack O’Brien (b.1993, London, UK), a London-based artist who works across sculpture, drawing, and painting, is the 2023 recipient of Camden Art Centre’s Emerging Artist Prize at Frieze. O’Brien’s practice combines industrial, fashion-design and architectural techniques to consider the production of desire, histories of consumption, and the ruptures and infiltrations that ripple through public spaces. For this new commission, his first major institutional exhibition in the UK, he conceived an ambitious installation across Gallery 3 and the Central Space that responds very directly to the architecture of the building, as well as the wider context of London against which his practice has evolved.

He worked with industrial fabricators on an installation in Gallery 3 dominated by two, ten-metre-long spiral staircases, suspended horizontally in the space. They are sheathed in a knitted stockinette, reminiscent of building hoardings as well as evoking the sensuality of skin. These staircases are common features on the exterior of industrial buildings, and here the artist disrupts their functionality, bringing them inside and orienting them laterally through the gallery.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

The artist has covered the windowpanes—a listed feature of the Victorian architecture—with frosted acrylic plastic. Fixed with circular suction cups that echo the formalism and punctuation of the chrome-plated balls affixed to the staircases, it creates another kind of wrapping, broken by a single strip, a horizon that opens onto the outside world. In the Central Space, found materials, including trumpets, steel bollards, cutlery, and plastic panels are assembled, incorporated, balanced and bound together. Cabinets fashioned in an early modern style are charged with a precarious tension between steel street furniture and fragile glass surfaces. The Reward, (2024)—which lends the show its title— sits in dialogue with the urban redevelopment that consumes post-industrial areas of London’s built environment, speaking to the artist’s own conditions of working against the backdrop of austerity, with limited resources and dwindling spaces for production in the city.

Through his series of expanded gestures and methods of accumulation, O’Brien’s work asks us to consider the work far beyond its material or architectural constraints, branching out to an ‘ever-expanding network in which disparate materials and objects are examined through a new, evocative lens. In his exploration of the material world, and its organisation in social systems and the constructed environment, he reflects the tantalising nature of anticipation and the inherent tension in seeking fulfilment.

A File Note essay by Dominic Johnson was commissioned for this exhibition.

Supported by donors to the Camden Art Centre Emerging Artist Prize at Frieze.

Launched in 2018, The Camden Art Centre Emerging Artist Prize at Frieze offers a UK or international artist, selected from the Focus section of Frieze London, the opportunity to deliver an exhibition at Camden Art Centre and achieve the critical milestone of their first institutional show at a London institution. Wong Ping, Julien Creuzet, Tenant of Culture and Marina Xenofontos have been awarded the prize in previous years.

The prize is generously supported by Alexandra Economou, Anne-Pierre d’Albis, the Heller Family, Suling Mead, Batia Ofer, Ralph Segreti, Ronald & Sophie Sofer, Alma Zevi, and Indira Ziyabek and those who wish to remain anonymous. With special thanks to Frieze London, Ginny on Frederick, and Matthew Brown Gallery.

Press coverage included a major feature and cover story for the Frieze London edition of Frieze Magazine, as well as major reviews and features in i-D magazine, Art Review, Flash Art Magazine and Mousse.

“For O’Brien, a code — a term he uses near-interchangeably with language — is used to address tensions that sit at the center of human life. The disparities he depicts, including the tug-of-war in desire, inherently render the work all the more compelling.”

"I saw so many interesting constructions in this space, but this one is simply the best, like strange x-rays... so beautiful..."

“The Reward was amazing; it really has that immediate visual hit to it...”

– visitor feedback

The exhibition There: a Feeling was the first institutional solo exhibition in the UK by celebrated American artist, writer and activist Gregg Bordowitz (b. 1964, Brooklyn).

Spanning the breadth of Bordowitz’s practice, including video, installation, performance, poetry, and prints, There: a Feeling centres around the artist’s enduring commitment to writing as an activity of thought,

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

manifesting across various forms and modalities. In Bordowitz’s ongoing transdisciplinary project, words are gestures, are images, are letters. The exhibition was a second chapter of a partner exhibition, Dort: ein Gefühl, on view at the Bonner Kunstverein, Germany until February 2025, and developed in collaboration.

New works realised site-specifically for Camden Art Centre – including Baroque Clouds (2018—ongoing), a sculptural intervention informed by the rendering of clouds in Baroque paintings and architecture; and Continuous Red Line, 2002–ongoing, composed of a line of red splicing tape attached to the walls in a continuous horizontal line at 3-inch height above the floor – are grounded in the context of older pieces, including Portraits of People living with HIV (1993), a 30-minute compendium of short video-portraits depicting Bordowitz’s friends, lovers or fellow activists going about their daily lives as they cope with HIV at a time when there were few treatments available.

Central to the show was a new film titled Before and After (Still In Progress) (2023—ongoing), the third instalment in a trilogy of autobiographical documentaries which includes Fast Trip, Long Drop (1993), and HABIT (2001). These films reveal the artist’s multiple identities and how they relate and intersect within a constantly reconfiguring self. In this new film the artist is revealed in shifting guises. Across seven ‘acts’ he performs aspects of his identity through distinct spoken-word formats, including deadpan comedic standup, lecture, poetry reading, song, and a Yom Kippur sermon in which he addresses the congregation of his New York synagogue, dressed in yarmulke and prayer shawl.

There: a Feeling, is a testament to survival, ordinary survival, if such a thing can be described. The artist’s growing body of work constitutes a vital and intimate historical testimony which, in his words, “combines daily quandaries with improvised compositions, together adding up, but never summing up, bits and pieces of a unified field. The singular proposition of an exhibition can only be experienced as qualities bursting upon qualities through overlapping episodes of attention, sensation, and perception”.

Supported by Kulturstiftung des Bundes.

A File Note essay by Camilla Wills was commissioned for this exhibition.

Press coverage was positive and included reviews in Studio International, 4 Columns, ArtReview, Hyperallergic and Flash Art. Gregg had an in-depth interview and feature in Frieze magazine, and also gave interviews for Wallpaper and The Art Newspaper’s ‘The Week in Art’ Podcast.

“I did not expect, despite the title, to be moved to tears in There: a Feeling, the first UK institutional solo show by Gregg Bordowitz, the American artist, writer, activist (I want to say, too . . . visionary?”

“This is a show of immense gravity and grace, faith and belief.”

“Favourite show I’ve seen in 7 years… CAC is my favourite gallery to bring groups to in London.”

"The prints are beautiful and technically so engaging to look at."

"It is amazing to see a queer Jewish artist like this; as a queer Jewish person I find it very important."

Residencies:

Our residency programme provides a nurturing and enabling environment for artists to develop their practice and share this more broadly. After a pause in 2023/24 due to a combination of space and funding restrictions, it continued into its 34th year with artist Ayesha Hameed taking up our 2024-25 studio residency from September 2024 to April 2025. The residency was a part-time, on-site residency with a solo studio space in our Reading Room.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Ayesha used her residency as an opportunity to develop a body of research experimenting with, and taking time to understand, two new strands of her practice that she had recently started working with – poetry and experimental film making processes. With a practice that has inherently imbued language throughout, she was looking to focus on its form on the page – the importance of its detail, lineation, punctuation – and in turn how this might extend outside of this.

Throughout her residency, Ayesha was mentored by writer and poet Quinn Latimer over 6 sessions. During these sessions they focused on form and her understanding of poetic structure. Alongside her mentoring she took participated in poetry writing workshops and vocal training sessions ahead of performances and readings at Matt’s Gallery, Cafe Oto and Camden Art Centre, where she showcased new works developed during her residency and was also included in the exhibition Sound Pressure at Modal Gallery, Manchester (2024).

Alongside her focus on poetry, Ayesha was also used the residency to focus on developing two new monographs documenting two bodies of work she has been worked on over the past 12 years: Radio Brown Atlantis with CARA in New York and Black Atlantis with Strange Attractor Press. Through research and mentoring from the residency's curator and Quinn Latimer, Ayesha has started developing a new body of research exploring oceans and grief and will be working with 87Press on their mentoring programme working towards the publication of a new body of poetry.

During the residency, Ayesha formed a peer writing group made up of eight artist, poets and writers. The group gathered monthly throughout the residency and loosely formed as a way to consider friendship, poetry and survival.

Forming part of the public programme alongside her residency, Ayesha developed two performances whilst at Camden, a re-imagining of her most recent work with longtime collaborator Tom Hirst as well as a new collaboration with exhibiting artist Gregg Bordowitz.

In December 2024 Ayesha and Tom Hirst performed their most recent work we are in flood (2024). Expanding on a previous performance at Camden Art Centre in 2017, Black Atlantis: the end of eating everything, this new work explored themes of collective and private loss, sub-aquatic territories and sound. Using the augmenting horizon of time as a material to conduct and contain grief, Hameed and Hirst wove personal compositions with the voices of Rachel Baker, Lizzie Homersham, Bijan Moozavi, Christian Nyampeta, Theodore Ringborg and musical excerpts by Bi Kidude, Rabindranath Tagore and pearl divers from the Arabian Peninsula.

In June 2025 Ayesha Hameed and exhibiting artist Gregg Bordowitz presented a postponed work developed through an epistolary exchange featuring poems (their own and others’), songs and references which emerged through their residency and exhibition. The new piece, explore how survival shapes their practices and lives, considering—though not limited to—the interplay of grief and joy as these emotions emerge daily through movement, breath and environment. Their work followed two constraints: treating survival as a given and not discussing the exchange itself, which unfolds through poetry.

Overall Ayesha relished the time and space the residency provided for her to focus on her practice, being present in the studio as much as possible.

“As a residency programme and space CAC is so exceptional and special. I was told repeatedly by several members of staff and artists engaged in that space that it is like a family, and indeed I felt that support and warmth throughout which I think is a very material quality that inspires one to make and think and feel inspired. Having six months in the space was really a luxury that is at once a necessity to make meaningful changes in one’s practice... CAC supported a very huge and vulnerable transition in my work that I am excited to move forward with.” – Artist feedback

Ahead of our 25/26 studio residency with an international artists based in Japan, our Residencies Curator undertook a 5-day research trip supported by Art Funds Jonathan Ruffer Curatorial Grant. The primary purpose of the research trip was to meet with artists based in and around Tokyo and also widen the

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curatorial teams understanding of Japan and the context that artists are making their work. The research trip was also used as an opportunity to extend our networks in the region and explore possibilities of cultural exchanges in the future. The research trip enabled several studio visits with the aim to shortlist candidates for the 25/26 Residency funded by Japan house as well as visit artist spaces and galleries in Tokyo and meeting with curators and cultural thinkers in the region.

Public Programme:

Our Public Programme is informed by the concept of “social condensers”, which uses architectural and ideological frameworks to catalyse social and cultural change through spatial and somatic exchange. It reimagines physical and digital space as a site for shared experience and diverse social relations.

We apply this model across physical and digital platforms, facilitating events with artists, cultural practitioners, filmmakers, musicians, performers, publishers and writers. Our aim is to cultivate and sustain communal interaction and cultural exchange through collaboration and discussion. Activities take place on site in our building or garden, online via our website, SoundCloud, YouTube and Camden Art Audio (on iTunes, Apple Music and Spotify) and off site at partner venues.

Public Knowledge: a series focused on publishing and distribution as platforms for knowledge exchange, featuring informal presentations, discussions and performances by practitioners from diverse cultural backgrounds.

Public Listening: discussions and listening sessions that spotlight artists operating at the edges of music and sonic cultures.

Exhibitions Related: events that engage directly with and expand upon our current exhibition programme.

Conversations: public dialogues between artists, writers, scholars and audiences exploring histories, trajectories and creative processes.

Garden Nights: a seasonal series of multidisciplinary live events held in the verdant spaces of Camden Art Centre.

Book Launches: focused on artist writing and independent publishing, often engaging with critical intersectional theory such as feminism, race and class, and experimental intermedial forms that foreground underrepresented voices.

We presented 31 Public Programme and HE events over the year to an audience of 3,048, working with 118 artists, 53% (60) of whom have protected characteristics.

Highlights include:

Camera To Look, To Make Music with Andrew Omoding

Andrew Omoding’s inaugural solo exhibition in the UK introduced audiences to his tactile, mathematics as intuition process. Using found materials ranging from fluid fabrics to rigid cardboard, Omoding guided workshop participants in sculpting instruments for narrative invention.

Garden Nights: Lonnie Holley with support from GOMID and Death Is Not The End (DINTE)

The renowned US-based multidisciplinary artist gave a rare one-off live performance, playing music informed by his new exhibition at Camden Art Centre. Supporting him was GOMID, a collaboration between a Nigerian gothic vocalist and a British producer of post-industrial ambience. Together they wove the sounds and legacies of hip hop, techno, ambient electronica and folk to craft a live experience that was both familiar and unrecognisable.

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Public Knowledge: The hidden hands of artistic (re)production

The myth of the artist working alone in the studio overlooks the contributions of many uncredited workers involved in the production, circulation, display and maintenance of artworks.

To highlight their contributions, participants—including academics, practitioners and art workers—will share their experiences and explore historical practices across various facets and geographies of the art world. They will address contemporary issues facing art workers today and their historical precedents before opening the discussion to the audience.

Public Knowledge: Monumental Graffiti with Rafael Schacter and Others

In this iteration of the Public Knowledge series, and to mark the publication of Monumental Graffiti, Camden Art Centre welcomed—for the first time in its Public Programme history—a collection of performances, prints and films celebrating graffiti as a contemporary public practice.

“The fact that we were able to bring so many people to Camden, many for their first time, and what it meant to show this work—works which have normally been forced outside of art institutions—cannot be underestimated.”

—Rafael Schacter

Chronochromatic Variations III

In collaboration with Jack O’Brien, contemporary music composer Laure M. Hiendl presented a new musical commission over two nights in response to O’Brien’s site-specific sculptural installation featured within his exhibition, The Reward, in Gallery Three.

Organised in partnership with the London Contemporary Music Festival (LCMF).

Open Book: Letters, Marks, Politics

Gregg Bordowitz opened the exhibition There: a Feeling with an improvised, reimagined performance lecture that was filmed and incorporated into the show. In this lecture, he explored how immaterial processes underpin his practice and examined the relational dynamics that inform his transdisciplinary approach. Using a didactic structure, Bordowitz demonstrated how he leverages the interdependence of meaning to challenge and reshape disciplinary boundaries, emphasising the pervasive influence of intangible knowledges across networks of attention, sensation and perception.

Programme listings:

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On Demand:

22 April 2024 – Conversations: Johanna Hedva and Phillippa Snow 22 April 2024 – Conversations: Steven Warwick, Aurelia Guo and Matt Williams

22 April 2024 – Conversations: Naomi Pearce and Alice Hattrick

24 August–10 September 2024 – Rebecca Salvadori presents The Sun Has No Shadow and TRESOR TAPES

13 February 2025 – Conversations: Gregg Bordowitz and Josephine Pryde

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Community Learning:

Our learning programmes aim to be inclusive and representative of artists and participants from a wide range of social and cultural backgrounds, and embeds talent development, diversity, and in-depth engagement across the whole programme, with a key strategic aim to ‘nurture talent of young people’, and ‘nurture life-long enjoyment of contemporary visual arts’.

Over the year we have worked on long-term in-depth projects with mainstream primary and secondary schools, SEN specialist schools, our youth programme, family programme, and new outreach activity for young people.

We also continued to support Writers in Exile providing free space for their bi-monthly meetings sharing writing and performance by exiled artists, and welcomed a wide range of group visits from educational institutions.

Our learning programmes engaged 6,350 people over the year, over 234 sessions, including 4,800 children and young people under 20.

All of our programmes have prioritised the experiences of children and young people as collaborators. We prioritise a focus on process over product, an approach which is difficult to nurture in formal arts education and strive to create environments where young people can experiment, learn new skills and take creative risks in a supported way.

Youth Programme: Transformative Futures

Our Youth Collective is a space for young people aged 15-24 to meet regularly and encounter the arts in an open and welcoming environment, to critically engage, feel empowered and stay connected. Our youth programme Transformative Futures is hosted onsite through regular Saturday sessions and occasional offsite events, and includes a residency programme and annual takeover or exhibition.

The culmination of the 23/24 academic year programme saw the Transformative Futures takeover in the Artists Studio in July 2024, which included work from 14 participants plus a zine with contributions from a further 6. This year the takeover came together as a group exhibition which was curated collaboratively with the participants in line with key themes they picked out from sessions through the year, and included video work, sculpture, installation, drawing and sound work. We also offered a month-long residency to seven young artists, which including one to one mentoring and an open studio event.

“Personally, it's been an amazing experience, I have learned a lot and developed my practice in a whole a new level. The mentoring sessions with Becky have been amazing, and crucial for my development during this process. I loved having the studio space to experiment and develop artwork. It has helped me to reconnect with my art, and gave me the motivation to keep doing it in the future.”

This year’s structure has been designed in order to give participants more long term contact with artist leads while also allowing us to be responsive and adaptive around feedback and opportunities with new artists and projects. The programme included sessions led by a diverse range of emerging artists. This included Lili-Murphy Johnson, Alannah Cyan, Emma Sheehy, Joshua Woolford, Harriet Gillett, Anne McCloy, Luke Rooney and Efrat Merin all exhibiting artists in New Contemporaries. We also worked with Holly Graham, Henry Bradley, Jessie Krish and Maddie Exton, Ree Bradley, Ain Bailey, Eva Jonas and Christine Kirubi. Nqatyiswa (Nikki) Mendu and Sophie Line, former participants in the youth collective also led a number of sessions, as well as exhibiting artists Lonnie Holley, Jack O’Brien and Greg Bordowitz.

“I really enjoyed how unique and varied the sessions were and that there were opportunities to engage with materials / equipment / mediums that many of us had probably never used before. I enjoyed

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discovering new ways of creating from a range of different artists and being able to hear more about their practices.”

“I recently moved to London with my partner. I was honestly intimidated to move here, I don’t know anyone in the city. Transformative Futures not only helped us to get out and meet new people, but it has encouraged me to expand my artistic practice, and have the confidence to apply myself to it more. Everyone is so nice and open there.”

Over 2024/25 academic year we delivered 28 sessions, with 448 total attendance and 168 individuals. 21 participants produced work for our Takeover Weekend. 61% of attendees were new to Camden Art Centre and broadly from target backgrounds:, 54% were of a global majority non white background, 33% identified as having a disability or mental health issues.

Of youth collective participants questioned 100% (target 75%) responded that their participation in the Transformative Futures Programme had given them transferable skills they feel can be used elsewhere. 100% (target 75%) responded that their participation in the Transformative Futures Programme had given them creative skills they felt they could use elsewhere and increased knowledge of career routes in the creative industries.

Of youth collective participants questioned 100% (target 50%) responded that their participation in the Transformative Futures Programme had positively impacted their confidence and self-belief; and 100% (target 25%) that participation had positively impacted their wellbeing and or mental health.

Secondary School and Youth Outreach Projects

Our projects supported by the Mildred Fund focus on establishing new relationships with young people and the schools and youth groups they are currently engaging with and provide pathways into creative practice. Working with 14 – 19 year olds over durational projects allows us to co-design projects with the audiences and artists we are working with. The activities are designed to be inclusive and accessible while also embedded in the themes and ideas being explored by contemporary artists. The evaluation of these projects, developed in partnership with The Mildred Fund project team is focused on the benefits that experimentation, sharing and creativity can have on developing confidence and mental wellbeing.

The 23/24 programme was led by Eva Jonas working with Maria Fidelis School (located in the most deprived area in Camden near Somers Town), and the summer 2024 term involved a series of workshops exploring a range of materials (film cameras, oil pastel, drawing with tape, drawing with charcoal attached to bamboo, making hanging models) to overcome their inhibitions around representational artwork and drawing. Her intuitive approach and focus on transformational activities aimed to open up the groups inner worlds and their perceptions of what art can be as was reflected by one of the pupils early on “Art is lowkey cool when we do stuff like this”.

Through the Spring Term we worked with artist Sara Heywood and Maria Fidelis school on a programme that took a “foundation style” approach to experimenting with a range of media to create experimental, collaborative pieces. Workshops broadly explores the relationship between nature, creativity and the city with each session using a different practical approach to creating.

Working with year 9 students we have found that there are often very fixed expectations of what “real art” is and what it should look like, through these experimental sessions we aimed to shift those ideas and focus on the process over the product. Working with field recordings, sculpture, photography and collage the pupils learned a range of techniques they can use to generate ideas for future projects.

“It was very fun and explorative finding new ways to create art out of different processes… it was great, only wish there were more workshops”

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“I really enjoyed the experience it changed my perspective on art quite a lot!”

“It has been amazing !!! I loved all the activities! I loved the clay and collage but all the others were super creative and enjoyable”

-Participant Feedback

The success of this approach inspired our Summer project with UCL Academy with Artist Nancy Allen who we tasked to come up with a toolkit of drawing techniques for pupils who in the words of their art teacher “struggle with generating ideas and taking risks”. Across weekly sessions Nancy introduced a range of experimental methods designed to unthink representative ways of drawing. The pupils loved working with Nancy citing how the sessions felt “free”, “fun” and “supportive”.

Through the secondary school projects we worked with 46 pupils and delivered 20 total sessions.

We continued our work with Sidings Community Centre’s Youth Group with artist Shepherd Manyika. Over summer 2024 the group worked on the creation of a film, developing skills in storytelling, camera work, editing and soundtrack producing short experimental videos around the centre. A celebration event took place in September with friends and family viewing footage alongside printed artworks. The programme resumed in the autumn this time looking at sound and sculpture to connect young people with art through music. The sessions involved creating the “Sidings Soundsystem” through designing and building speaker systems out of cardboard and connecting them together. This work allows us to continue to learn from the youth workers, many of which have been working at Sidings for 20+ years and identify the needs, interests and issues facing the underrepresented young people in this area. The establishment of a long-term relationship with the staff at Sidings and those they support will allow us to be mutually beneficial project partners in the coming years of the project and in wider terms as a community asset.

We also conducted our first long term project with The Hive, a mental health youth support centre on Finchley Road in collaboration with artist Sam Williams. This series of workshops took inspiration from performance art as a route into image making, over 15 weeks the group explored a range of media including drawing, sound art, photography and collage to create a shared visual language. We received positive feedback especially on the confidence boost and social benefits that the workshops provided. The programme culminated in an exhibition of the participants work in the Drawing Studio for friends and family and the production of a publication of the artwork produced.

“I think it’s good that it’s not too focussed on the outcome. Art has a lot of rules and set ways of thinking - it’s good to just feel free to make”

-Participant feedback

“Yes because I would always look forward to it and if I had a bad week or felt very low (which unfortunately happened too often), I would always walk out feeling much happier and hopeful for the future.”

“Definitely! It was something I looked forward to every week and I met lots of people through it. I was able to socialize and decompress through the art activities. It felt like a time where I could forget about the things causing me stress and just have fun”

-Participant responses to whether the programme positively impacted their wellbeing and mental health.

SEN Schools Programme

Camden Art Centre’s Special Education Needs (SEN) School Programme works in collaboration with young people, teachers and artists. The project addresses the lack of access for people with learning disabilities to creative experiences, learning and careers in the visual arts. It aims to increase creative opportunities for people with profound and multiple learning disabilities; to foster a sense of belonging at the centre and to encourage confidence and independence through collaborative activities that champion all forms of communication and self-expression.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Over 23/24 and 24/25 academic years we worked with pupils and teachers from Swiss Cottage School and The Village School, working with different groups of young people. The projects were led by the artist team of Lucie Macgregor, Declan Leslie (supported by Action Space) and Tom James.

The schools had 100% pupils with Special Educational Needs and included a higher-than-average proportion of pupils eligible for free school meals (Village 37.5%; Swiss Cottage 54.3%) or pupil premium (Village 39%; Swiss Cottage 44.7%).

The 23/24 academic year programme culminated in an exhibition Den! over July-August in the Artists Studio and garden, exploring natural resources, waste materials and the idea of shelter.

“Our school absolutely loves being involved with this project – it’s become an integrated and valued part of our creative provision. Over the course of the year, we’ve seen pupils grow enormously in confidence, particularly in how they speak about and engage with art. Their artistic vocabulary has noticeably developed, and they’ve become more assured in public art spaces, willing to express their ideas and try new techniques. A real highlight this year was the exhibition, which the children were incredibly proud of – I even overheard them enthusiastically discussing their work with their peers in the gallery, which really shows how meaningful the experience was for them.”

-Teacher Feedback, Swiss Cottage School

The new season from November 2024 explored the power of the elements. Students started by focusing on using wind and air to transform and activate sculptures and drawings that they made, building on the successful elements from previous years; creative construction and problem solving, collaborating at scale and shared spectacle moments in combination with new approaches adapting to the new participants. They went on to use clay, ink and assemblage to build ceramic pots, and rain machines. The groups continued to grow in confidence over the year, and feel increasingly comfortable working collaboratively and taking risks, demonstrated by the large-scale sculptures they made. Sessions culminated with a group activity in which each participant was offered the opportunity to lead an activity or perform on their own. We also conducted more slow activities based around sensory experiences for example a session building light-up sun sculptures and spending time watching the shadows they cast on the wall. We have found these simple activities very calming for the group and a nice contrast to the very energetic making sessions.

The year will culminate in an exhibition Weather Show as well as school and family events over summer 2025. Over the year our Digital Content Producer captured the processes and ideas explored within the workshops, to be shared as part of the exhibition.

Our aim for this project was that young people with learning disabilities are engaged and empowered through access to high quality creative activities. As reported by teachers from The Village School and Swiss Cottage School 100% (target 75%) of the pupils engaged attained new transferable skills and experience. 100% (target 50%) of the pupils engaged have demonstrated increased self-confidence in their creative abilities.

Primary Schools Project

We continued working with artist Amy Leung to deliver our primary schools programme Dreamscape working with every pupil in nearby Anson Primary School in Brent. The school included a higher-thanaverage proportion of pupils eligible for free school meals (29.9%) or pupil premium (24.68%). Before the first year of the project 96% of the pupils had never visited Camden Art Centre before despite the school only being 1.5 miles away.

Sessions looked at spaces for learning, play and exploration, and Amy’s research and commitment to developing a child-led space at the school has seen the pupils build and develop a shared visual language formed over the year. The exploration of space and play used chalk, cardboard panels and wooden boards to transform the playground. Amy and our Learning Curator also conducted a whole school assembly

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where pupils fed back on their experience of the project. The 23/24 academic year programme culminated in an installation at Camden Art Centre in summer 2024, before being installed in the school playground.

The 2024/25 academic year commenced with classes from year 1 and 2 taking part in a range of activities exploring materiality and play in relation to the school’s built environment, and continued on to working with classes from years 3 – 6 over the later terms both at the school and Camden Art Centre. Pupils imagined new possibilities for play through collaging, drawing and collaborative model making based around the architecture of the school.

Working with the same school for a second year has proved highly fruitful as the pupils are now familiar with the Centre and staff and seem to feel increasingly at home, remembering their previous visits. There is an established level of trust with pupils, teachers and wider school staff. We also welcomed the year 1 groups on their first ever school trips. The 2024/25 academic year programme will culminate in a showcase at Camden Art Centre and a semi-permanent installation of artworks in the school playground in summer 2025 co-designed and curated by the pupils. Co-designing across year groups and giving pupils creative agency over the school environment, alongside connecting with artists, experimenting with new materials and collaboration is a key aim of the project, and transforming different areas of the playground over the years has helped to create a lasting legacy for the project.

“The partnership with Camden Art Centre has reinforced our vision for happy, confident and creative children at Anson. Connecting them with Amy has given them valuable insights into the creative process and allowed them to trust that each of their many ideas are valid and worth sharing. As a school we have connected the community together through a wonderful project progression involving all pupils. It is an experience they will remember for many years to come. For us the dreamscape is not the final product but the project itself because of the voice it provided for their ideas to be heard.”

-Feedback, Simon Pile Anson Primary School Headteacher

Our aim was for young people from our target groups to demonstrate improved agency and emotional and mental wellbeing through participation in creative activities. Primary School feedback from the whole school was developed using the NHS Five Ways to Wellbeing framework and questions were designed around this.

82.5% (target 50%) of participants reported feeling increased self-confidence and self-belief in their abilities; based on feeling creative (90%), learning a new skill (80%), collaborating with a friend (85%) and learning something new about a classmate (75%).

81.25% (target 25%) of participants reported positive improvement in their emotional and mental wellbeing compared to the start of the project; based on feeling inspired (70%), relaxed (85%), happy (95%) and energised (75%).

Family Workshops & Family Open Studio Sessions

Our family programme offers a fun, creative and relaxed space to explore playing and making with materials. Our facilitated sessions and open studios attracted 2004 parents/carers and children over 69 sessions.

The summer 2025 season sessions were led by illustrator and artist Habiba Nabisubi who led workshops exploring themes of memory, identity and family from Matthew Krishanu and Andrew Omoding’s exhibitions. Activities have included painting family trees inspired by Krishanu’s Banyan trees and making crested crowns inspired by the native birds of Omoding and Nabisubi’s Uganda. These sessions continue to be very popular with a healthy mix of returning regulars and newcomers enjoying the workshops, participants tend to stay and use the garden / café space or galleries afterwards, often with artworks in hand, or on their heads.

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We continued with free Family Friendly Open Studio supported by our Front of House team and an expansion to our volunteer programme, which generates very positive feedback and high participation numbers.

“creative time with my daughter in a lovely, friendly environment. love these sessions, a great way to introduce kids to art, inspiration for activities at home, wonderful atmosphere. thank you!” -Family Takeover Participant Feedback

Audience Development:

2024/25
(Target)		 2024/25
(Actual)		 Notes
Physical Engagement
Visitors 100,000 94,195
Digital Engagement
Website visitors
Botanical Mind
Microsite
Total		 150,000
0
150,000		 136,436
16,679
153,115		 Target developed as part of digital audience
strategy from January 25.
One in the Other microsite now offline.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Instagram
followers.		 100,000 100,900 Increase of 8% from prior year. Digital strategy
developed January 25 now focused on
Instagram growth only.

Upcoming Activity

Exhibitions

Our exhibitions programme for 2025/26 commences from April – June 2025 with an exhibitions from Richard Wright in galleries 1, 2, 3 reading room and central space.

This will be the largest institutional solo exhibition in the UK for more than 20 years of the work of British artist and Turner Prize winner Richard Wright (b. 1960, London, UK). Known primarily for his site-specific and ephemeral wall-based paintings, the exhibition will also include new and rarely exhibited works on paper and in sculpture and glass. Wright’s work is an active and extended investigation into the material conditions of the physical world. Engaging with both the tangible and immaterial, he opens up spaces which shift and alter our perception, drawing on histories of painting, design, metaphysics, aesthetics, counter-culture and architecture.

Over the summer from July – September 2025 Duane Linklater with Ethel (Trapper) Linklater, Tobias Linklater and Grey Plumes exhibits in galleries 1, 2, and central space.

Duane Linklater (b. 1976, Treaty 9 Territory/Moose Cree First Nation (Canada)) will present a new commission that continues his exploration of long-standing museum conventions and their relation to the material, visual, and cultural history and lived experience of Indigenous peoples. Working across sculpture, painting, and moving image, Linklater’s practice details and interrogates notions of hierarchical power, societal amnesia, loss and identity, and how they are articulated in an institutional context. The exhibition is a collaboration with New Curators and will be curated at Camden Art Centre by students on the 2024/25 programme.

From October 2025 – March 2026 we present Karimah Ashadu in galleries 1 and 2, and from January – March 2026 Nat Faulkner, the Frieze Emerging Artist prize winner for 2024 will be shown alongside in gallery 3.

Karimah Ashadu’s (b. 1985, London, UK) first institutional solo show in the UK will include a major new moving image commission, produced with Fondazione In Between Art Film, and presented within a sitespecific installation. Ashadu’s practice employs an intimate and singular lens to examine notions of labour, formations and perceptions of the self, masculinity, and patriarchal systems within the economic, social, and cultural context of West Africa. The exhibition is the second in Fondazione In Between Art Film’s “Unison” series—a commissioning programme for moving image-based exhibitions in collaboration with international institutions. Commissioned by Camden Art Centre and Fondazione In Between Art Film.

Nat Faulkner (b. 1995, Chippenham, UK) lives and works in London and is the winner of our Frieze Emerging Artist prize 2024. He came to photography after first having studied and worked with sculpture, engaging in a deeply methodical type of photography in order to fashion an elastic perception of time. His practice investigates how to materialise an event that is not visible. What would an authentic tool be, where does the magic come from, what use is our body, and what is the limit of our interventions. In thinking about the aberrations of time and movement, Faulkner invokes the principles of time-lapse photography and interprets as a way to enhance our perceptions to a degree infinitely beyond what any living process could match.

Residencies

Our 25/26 Studio Residency will see us working with Japanese Artist Aya Momose who lives and works in Tokyo. This international residency supported by Japan House will enable Aya to undertake a 6-week

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

studio residency at Camden Art Centre in October 2025. The primary focus of the residency being an opportunity for the artists to start developing a new body of research in conversation with the curatorial team at Camden Art Centre and external peers. Alongside this, we hope the residency will also support cultural exchange, networking opportunities and studio visits with curator, artists and cultural thinkers based in London.

Working primarily across film and performance, Aya's practice explores the complexities of communication and language as she considers questions of gender and sexuality. Addressing the body through film and performance, her work grapples with questions of societal norms and the invisible structures of oppression with notable works including Jokanaan (2019), Social Dance (2019) and Flos Pavonis (2021).

Following research developed through artist Jack Ky Tan’s Studio Residency at Camden Art Centre in 2022 - where he explored the legacies of empire, ‘the Asian middle’ and the loss of the colonial dream - Tan now undertakes a curatorial research residency at the Centre exploring the history, politics and legal aesthetics of the Asian Colonial Middle, a termed coined by Tan to describe the colonial conditions and structures created by the British Empire and East India Company.

Through artistic and curatorial approaches, his research considers the modes of refusal that can emerge from within current structures of neocolonialism that are a live legacy of Empire.

Supported by the Paul Mellon Centre's Curatorial Grant, Tan’s research will have a public outcome in quarter 4 of the 25/26 financial year. To date, his research has included research trips to Java and Singapore through his Joseph Rowntree Visionaries grant, and to national archives and museums in the UK including the National Army Museum, London and the Cadbury Research Library in Birmingham.

Public Programmes

Some highlights for 2025/26 include:

Public Listening: Radio Meditation with Slauson Malone 1 17 July

Radio Meditation by artist Jasper Marsalis, under the name of his musical practice Slauson Malone 1, operates as an autonomous sonic meditation system that generates an ever-changing dynamic composition of frequencies. Inspired by Pauline Oliveros’s Tuning Meditation and Luigi Rusolo’s noise instruments, it routes BBC Radio 3 through a microcomputer. The computer captures spectral snapshots at random intervals and crossfades them, producing a mutating “improvised chord of 2048 voices” accompanied by a live musician who improvises in response.

Rally Artist Commission: Anna Howard 23 August 2025

Offsite

Anna Howard, a London-based artist, educator and self-publisher, presents a temporary site-specific intervention. She is a recent graduate of the Slade MA programme and featured in New Contemporaries 2024.

In collaboration with Rally

Public Listening: _Drive Through Confessions: ____

Abbas Zahedi and Bill Daggs 12–14 September 2025

As a precursor to their forthcoming musical release on Drowned by Locals, Abbas Zahedi and Bill Daggs present Drive Through Confessions: _________, a live programme of sonic interventions and interactions featuring performances from guest artists, musicians and poets.

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Conversations: Evan Ifekoya and G.A.S.

October 2025

Evan Ifekoya is a London-based choreographer, performer and visual artist whose work explores Black queer and trans embodiment, memory and queerness through performance. In this episode of Conversations, she speaks with representatives of G.A.S. Lagos, founded by Yinka Shonibare to support research and project development for creative practitioners through residencies that engage with Lagos’s cultural context via masterclasses and talks.

In collaboration with Falmouth University.

Performance: Raheel Khan

December 2025

Goldsmiths alumnus Raheel Khan develops a new commission with Camden Art Centre’s Public Programme, drawing on materials from the Stuart Hall Archive at Iniva. This project engages archival insights to forge a dialogue between Hall’s legacy and contemporary practice. The commission culminates in a public-facing performance shaped by a sustained period of mentorship led by curators Beatriz Lobo and Matt Williams.

In collaboration with Goldsmiths Alumni and IniVa

Exhibition related: Nat Faulkner

February 2026

Contemporary artist Nat Faulkner collaborates with the Eadweard Muybridge Archive at Kingston University to develop a moving image project as a facet of a performance lecture examining Muybridge’s pioneering photographic studies of motion. Drawing on archival materials, Faulkner presents an event that engages history, technology and performance, offering fresh insights into the legacy of motion studies in contemporary art.

In collaboration with Kingston University.

Learning Programmes

For the 25/26 Learning Programme we will continue to build on our programmes with local schools, young people and community groups engaging young people directly with artists. We will continue our partnerships with UCL Academy, Maria Fidelis School, Swiss Cottage School, The Village School, The Hive and Sidings Community Centre working with new artists to connect audience with expansive creative programmes.

We are currently in discussion with ActionSpace regarding the new artist lead for the SEN Programme which will resume in October. The Youth Collective will also return in October with a series of workshops led by artist Ayse Koklu exploring sound as a way of sharing collective experience. Our Primary School project will next year work with Gladstone Primary School in Brent looking at the overlap of creativity, sustainability and identity.

We will move into the final year of our three-year Mildred Fund programme of activity continuing to work with local young people and artists focussing on how process led creative practice can positively benefit mental health and wellbeing. We will think about the legacy of this research programme and how to take these learnings forward into our future programme beyond the next academic year.

Fundraising

Our Development team will continue to prioritise financial resilience and dynamic fundraising. We are starting the financial year in a strong position, with at least 50% of target pledged, and aim to continue this strategy in subsequent years.

Building on the success of our 24/25 capital campaign we will continue to engage support from existing supporters of Camden Art Centre as well as new relationships, including grant-giving trusts, individuals, and corporate entities.

24

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

With regards to individual fundraising, we will continue to focus on our Patron programme, which now includes multiple levels of giving (Young Patron, Patron, and Artists’ Circle). We will also implement a new major gifts strategy targeting high net worth individuals with an interest in supporting core activities at Camden Art Centre. In addition, we will continue cultivation of international philanthropists through US Friends of Camden Art Centre, a CAF America Friends Fund exempt under US tax code.

We will continue to focus on exhibition fundraising, including giving circles around shows including Richard Wright and Karimah Ashadu, as well as 26/27 shows including Donald Locke and Liz Larner. We will also continue to seek support from collaborating institutions, commercial galleries and touring partners. Alreadyidentified collaborative funders include New Curators (Duane Linklater) and Fondazione In Between Art Film (Karimah Ashadu). In addition, we will embark on the third three-year cycle of our Emerging Artist Prize in partnership with Frieze, now in its seventh year, with uplifted levels of support to cover programme costs.

We will also build on our historic strength in fundraising from grant-giving trusts and foundations, particularly in support of our Learning Programme, including the planned submission of multi-year requests for funding for our primary school and family engagement programmes. We will continue stewardship of those trusts and foundations with whom we have established relationships. We will also explore funding avenues for other areas, including multi-year asks to grant-giving foundations in support of our Residency Programme and collaborations with funding partners to support curatorial positions.

Finance review

2024/25 was a year of careful consolidation and forward planning, as we continued to deliver our broad range of programmes while adapting to a significantly reduced core funding environment. Highlights include a successful fundraising campaign towards the renewal of our building lease, and meaningful progress in adapting the organisation for a lower public funding environment.

We continued to benefit from Transform 2 grant from Arts Council England with overheads and business development investment to enable our transition to this lower level of public funding.

We ended the year with free reserves being maintained in line with our increased target level of £371,000.

The accounts show an increase in unrestricted funds for the year of £99,000, which included an increase in operating funds of £24,000. The remaining change was in relation to non-cash items which do not impact free reserves, including a £50,000 increase in designated funds and a £23,000 increase in donated stock.

The Trustees have reviewed our reserves and cashflow position and remain fully aware of the need to protect our funds whilst ensuring that the key charitable objectives are fulfilled in the short and medium term. It is recognised that fundraising is becoming increasingly competitive and that in the economic climate it is necessary to work even harder to maintain productive relationships with all funders and donors, to review our operating models, and to continue diversifying income particularly from individual giving and earned income.

Income generation

During the year, Camden Art Centre relied upon a range of external funding sources in order to achieve the Centre’s objectives. Many donations were to directly support an exhibition or education project, and the Arts Council England support continued to be a major source of income supporting the overall running costs of the Centre.

Total turnover of £3,300,000 included £1,035,000 (2024: £170,000) in non-recurring lease fundraising income and £210,000 (2024: £353,000) relating to transitional income from ACE. There was an £11,000 (1%) increase on prior year income excluding these items.

25

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

The largest source of income remained Arts Council England (ACE) funding which totalled £810,000 (2024: £953,000). Of this, £210,000 (2024: £353,000) was non-recurring transform funding covering business development and consultancy costs to support future organisational change. The base Arts Council England grant remained £600,000, which represented 26% (2024: 25%) of total income (excluding one-off lease fundraising income).

Income from other trading activities of £307,000 (2024: £207,000) included an increase in hire, donated artwork and café income. The café is currently franchised.

Restricted revenue income for the year totalled £394,000 (2024: £908,000), mainly comprised of:

Grants and donations £323,000 (2024: £765,000)

Arts Council England £60,000 (2024: £133,000)

Exhibitions income £11,000 (2024: £9,000)

The reduction in grants and fundraising income is explained by one-off items received last year including a £150,000 legacy donation for learning, a corporate donation of £125,000 for the digital accelerator programme and £170,000 of building lease income (which is now presented as capital).

Trusts and foundations income is also raised towards our education, exhibitions, residency and public programmes, and individual donations towards our exhibitions and education programmes. Trust income includes grants from AKO Foundation, John Lyons Charity, A.C. & E. Foundation, the Mildred Foundation and Cockayne Foundation. We also benefited from individual donations towards our programmes including the Emerging Artist Prize in partnership with Frieze, and individual exhibitions. We also received £52,000 (2024: £24,000) in-kind donations relating to lease work support and exhibitions activity.

Expenditure

Total expenditure is £2,653,000 (2024: £2,369,000), which is 9% higher than last year excluding £74,000 of one-off professional fees and staff costs associated with building lease fundraising. The net increase is mainly driven by increases we offered in staff base salary, inflation related impacts on our overheads and one off costs funded by digital accelerator programme.

Reserves Policy and Going Concern

Camden Art Centre aims to have a free reserves pot to cover on average 3 months’ core running costs (currently calculated at £371,000). We also have a designated building fund of £60,000 which allows for repairs and maintenance to the building the Centre is housed in, £103,000 in the Strategic Investment Fund and £7,000 remaining from the lease renewal designated fund. While prudent management has enabled us to maintain reserves, the Charity plans to draw down on its designated Strategic Investment Fund in future years as we adjust to a new reduced public funding baseline.

Free reserves are intended to cover potential fluctuations in income as expenditure over the years is planned to remain relatively stable.

26

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

The current unrestricted reserves position is:

Total unrestricted reserves
Add back pension liability
Less designated funds
Less donated artworks for
resale
General funds
Less unrestricted fixed assets
Free reserves		 £
825,357
68,326
(190,074)
(309,987)
393,622
(22,432)
371,190

The proceeds of our Artists for Artists fund auction in 2016-17 which raised £284,000 are restricted to support artist-led projects, commissions and residency programmes that will enable artists to continue to take risks with new ideas and to push the boundaries of their own practice. This fund will be drawn down over a 10 year period to support charitable activities, with the intention to continue adding to the fund. The fund currently stands at £59,540.

The Restricted Capital fund represents grants received in previous years for building works, which are held in reserve and reduce as annual depreciation is charged against them. The Building Fund for lease purchase and development is also presented here from 2024/25. Of the carried forward capital funds balance of £1,668,000 (2024: £765,000), the amount relating to future years’ depreciation costs is £537,000 (2024: £765,000) and the amount relating to the Building Fund is £1,131,000 (£nil)

Building Fund

During the year, £1,035,000 was received in relation to the building lease purchase and development, adding to £170,000 received in the prior year. £1,002,916 was spent, of which £929,000 related to the purchase of the lease and directly attributable costs. The remaining £74,000 related to professional fees and staff costs and is presented as an expense.

A prepayments figure of £1,909,000 is presented in these accounts, which represents the full amount of the lease premium plus any directly attributable costs, with the £886,000 remaining due from this presented as a liability. This is on the basis that the lease completion date per the agreement has passed, and therefore the obligation for the remaining premium exists. We have now met our target for fundraising pledges and are therefore on track.

Assuming the remaining amount is paid before the lease commencement date, the prepayment is expected to be reclassified as a Right-of-Use asset once the lease becomes active.

Trustees have reviewed our financial position in relation to the impact of our Arts Council funding agreement level for 2023-27, on current and future operations. A review of cashflow, secure income, reserves position and budget reforecasting means that at the time of writing there are no material uncertainties regarding the charity’s ability to remain a going concern. However we continue to monitor this closely and to review the long-term impact and any necessary adjustments to mitigate against this.

27

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Risk management

The key risks to the Centre are financial, strategic and reputational. The Board is focussed on the financial and strategic risk whilst the reputational risk is mitigated through the programme as outlined in this report. The risk register was updated by the board on 20[th] October 2025.

The principal risks and uncertainties currently relating to the organisation are:

These risks are managed through regular and targeted trustee engagement (including through our Finance and Operations Committee, Executive Committee and Fundraising Working Group, and strategic planning working groups in relation to business adjustment) maintaining tight cost control and efficiencies, taking action in a timely manner, and long-term programme and budget planning to ensure we adapt and evolve, maximise fundraising and communications campaigns.

Structure, Governance and Management

We benefit from core funding as an Arts Council England National Portfolio Organisation from 2023-2027, however at level reduced by 36%. We have successfully applied for additional ACE funding for 2023-26 through the Transform programme, with trustees committed to reviewing our business operating models in order to diversify income. We continue to seek opportunities for developing our building asset, partnership working, commercial income, audience development, and improving evaluation to further demonstrate our impact.

Governing Document

Camden Arts Centre (legal name) is a company limited by guarantee (number 02947191) and is a registered charity (number 1065829) governed by its Memorandum of Association, incorporated 11 July 1997 and amended by special resolutions dated 26 January 1999 and 9 November 2009.

Our objectives:

The objectives are to advance the education of the public in the understanding and appreciation of the arts. The charity operates Camden Art Centre, north London's leading venue for contemporary visual art of regional, national and international significance incorporating galleries for temporary exhibitions, studios and workshops for educational activities.

Trading Subsidiary

A Trading Subsidiary Camden Art Centre Trading Limited (company number 16278562) was incorporated on the 26th February 2025, the sole member of the company being the charity Camden Arts Centre. The Subsidiary is wholly owned by the Charity and exists to raise funds for the Charity to use for its charitable purposes. It was established in order to carry out certain non-charitable trading activities, including but not limited to the operation of the café situated on the Charity’s premises and our hires and events programme.

28

Camden Art Centre

Trustees’ Report for the year ended 31[st] March 2025

This is chaired by the charity treasurer Porus Jungalwalla, with independent directors John Nicholas Stachiewicz and Anna Starling.

An agreement is in place to define and agree the framework within which dealings between them shall be carried on, including the Subsidiary’s use of property belonging to the Charity, the sharing of resources between the Charity and the Subsidiary and the management of the relationship between the Charity and the Subsidiary.

Recruitment and training of Trustees

New Trustees are inducted and given training appropriate to their knowledge and ability. In addition, all Trustees are issued with a copy of Charity Commission Welcome Pack , The Essential Trustee and Charity Finance, and provide information for their registration with Companies House. Conflicts of interest are registered during Board meetings. Trustees are offered the opportunity to attend training as appropriate.

Board Development

Organisation structure

Day to day operation and management is delegated to Camden Art Centre staff, headed by the Director who is supported by the Deputy Director and departmental budget holders.

Martin Clark, Director

Additionally responsible for delivery of the exhibitions, learning, public programmes and residencies.

Moya Malekin, Deputy Director

Responsible for finance, legal, personnel, retail operations, building management, communications and IT.

Departmental budget holders are:

Martin Clark, Director (Exhibitions, Residencies, Learning, Public Programme) Moya Malekin, Deputy Director (Administration, Premises, Communications) Ruth Piper, Head of Development Andrew Smith, Head of Commercial (from June 2024) Jacqueline Jeffries, Retail and Editions Manager

There are four Trustee meetings a year, with a programme of key topics. In addition to this the Finance and Operations Committee, Chaired by the Treasurer, provides an assurance and monitoring role. An Executive Committee, Chaired by the Chair of the Trustees monitors organisational development and

29

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

goals. An Ethics and Risk Committee was formed with representation from 5 trustees, with a rolling chair position.

A number of staffing changes took place within 2024/25:

Following restructure in 2023/24 we recruited a new post of Head of Commercial in June 2024, consolidating our focus on adjusting our business models for increased earned income. This built on investment through our Transform grant from Arts Council England.

We recruited a new Learning Coordinator in June 2024, Interim Head of Development (maternity cover) in February 2025, and Administration and Personnel Manager in March 2025. We also engaged a fixed term position of Digital Content Producer supported by our Bloomberg Digital Accelerator Project.

Our volunteer front of house programme continued, with 194 volunteers taking part during the year over 8,238 hours, including 448 hours for our family open studio activity. We have an average retention rate of 79% from season to season. Our programme included a range of workshops and social events.

Pay policy for senior staff

The board of directors and the senior management team comprising the Director and Deputy Director are the key management personnel of the charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 8 and 10 to the accounts.

The pay of the senior staff is reviewed annually alongside all employees with a final decision on any annual cost of living percentage increase awards made by trustees. This is in accordance with the provisions set out in the company Policy Handbook which does not form part of contracts of employment and may be varied from time to time.

Building and Infrastructure

30

Camden Art Centre

Trustees’ Report for the year ended 31[st] March 2025

with Camden Climate Coalition to undertake an energy audit of the building in 2024/25 with recommendations, and continue to seek funding for additional measures to reduce our environmental impact.

Fundraising Practice

Our approach to fundraising:

Fundraising at Camden Art Centre is planned and delivered by fundraising professionals employed within its Development Department. This work is overseen by a working group of the Board of Trustees (Fundraising Working Group) and is attended by the Director, Deputy Director and Head of Development. Fundraising activities are undertaken under the auspices of the Fundraising Regulator’s Code of Fundraising Practice and the Centre’s own Ethical Fundraising Policy and Development Strategy, which is itself overseen by a working group of the Board of Trustees (Ethics & Risk Committee).

Participation in fundraising regulation and compliance with codes:

Camden Art Centre is a signed-up member of the Fundraising Regulator and the Centre’s fundraising activities adhere to and are compliant with the Regulator’s Code of Fundraising Practice. The key tenets of the Regulator’s Code of Fundraising Practice, including best practices in due diligence, form part of the Centre’s Gift Acceptance Policy, which was adopted by Camden Art Centre Trustees in October 2025.

Any non-compliance with any code:

Camden Art Centre fundraising activities are compliant with current legislation as it applies to charities and fundraising (including data protection) and with the Fundraising Regulator’s Code of Fundraising Practice and there are no current areas of non-compliance.

The number of complaints received:

Camden Art Centre has received no complaints about its fundraising practice in this period.

How Camden Art Centre protects vulnerable people:

As part of its Ethical Fundraising Policy, Camden Art Centre has developed a procedure for dealing with vulnerable people in the context of our fundraising activities, which sets out the procedures for working with children and adults deemed to be vulnerable.

How Camden Art Centre monitors fundraising activities undertaken by third parties:

Camden Art Centre carefully monitors the work of third party fundraisers through regular project management meetings and reporting with particular attention to managing any audience-facing materials or activities.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Thank you

Camden Art Centre is grateful to all our supporters who help keep our work adventurous and free.

Lead Support Arts Council England AKO Foundation Guy and Alexandra Halamish Donald Porteous Learning Support Baily Thomas Charitable Fund Camden Council Cultural Education and Learning Support Fund The Casey Trust Chapman Trust The Charlotte Bonham-Carter Charitable Trust The John S Cohen Foundation David Solomons Charitable Trust The D’Oyly Carte Charitable Trust Girls on Tour Kusuma Trust John Lyon’s Charity The Mildred Fund The Estate of Rosemary Phelps Robert Gavron Charitable Trust The Steven Bloch Image of Disability Charitable Trust Programme Support The A.C. & E. Foundation The Atkin Foundation Bloomberg Philanthropies Cathy Wills Charitable Trust Jane Hamlyn and James Lingwood Paul Mellon Centre Rose Foundation Exhibition Support We are thankful to all our Exhibition Circles and those who supported our major shows. Alison Jacques Ampersand Foundation Bagri Foundation The Elephant Trust Edel Assanti Foundation Foundation Freelands Foundation Institut français du Royaume-Uni Kulturstiftung des Bundes (German Federal Cultural Foundation) Gagosian Ginny on Frederick Jon Goldberg Emma Goltz Taimur Hassan Henry Moore Foundation Jhaveri Contemporary

32

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Matthew Brown Gallery The Modern Institute The Nicola L. Collection and Archive Niru Ratnam and Georgia Griffiths Boris Olujic and Katharine Arnold Alexander V. Petalas Francesca and Carlos Pinto Donald Porteous Bianca Roden Ralph Segreti and Richard Follows Tanya Leighton Gallery

Emerging Artist Prize Supporters

Anne-Pierre d'Albis-Ganem Alexandra Economou James Freedman Alex Haidas The Heller Family Suling Mead The Mubarak Ali Foundation Amalia Mytilineou Batia Ofer Ronald and Sophie Sofer Ralph Segreti and Richard Follows Alma Zevi Indira Ziyabek

Artists’ Circle Patrons

Charlotte and Alan Artus Erin Bell and Michael Cohen Matthew Greenburgh The Heller Family Philip Hughes Phillip Hylander Porus Jungalwalla and Anjali Pathak Ken Li James Maltz and Lara Karmel Matt Symonds Anna Touzin

Patrons

Eliza Bonham-Carter Sabine and Thomas Casparie Loraine da Costa Tom Cole Prue O’Day and Don Anderson Michael Ezra Heidi Ferid James Freedman and Anna Kissin Stephanie Garcia Daniela Gareh Joanna Gemes Elissa Goldstone

33

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Alex Haidas Guy and Alexandra Halamish Hauser & Wirth Fabian and Harriet Hielte Soo Hitchin Pippy Houldsworth David Hubbard Philip Hughes Alison Jacques and Jonathan Mansie Matthew Slotover and Emily King Angela Koulakoglou Paula Lent Massimo de Carlo Hayfa Matar and Tariq Baloch Karen Midgen Lavinia Mildmay Blundell-White Bozena and William Nelhams Isabelle Paagman Pace Gallery Maureen Paley Francesca and Carlos Pinto Alex Sainsbury and Elinor Jansz Jeremy Scholar Neville Shulman CBE and Emma Shulman Diane Silverthorne Karen and Mark Smith Alexandra Soveral and Jorj Aleem Maria Sukkar Christoph and Marion Trestler Mary Wolridge Tom Woo Natalia Zett Alma Zevi David Zwirner New York / London And all those who wish to remain anonymous.

Young Patrons Alice Amati Frank Krikhaar Andreas Leventis and Kate Baird Jona Lueddeckens Lizzy Mason Pietro Pantalani Max Peltz Indira Ziyabek

Corporate Support The MBS Group Mishcon de Reya TFA London

Artists for Artists

We are grateful to the following artists who have generously contributed towards our Artists for Artists Fund, either by donating works to our anniversary auction or having been honoured at our annual Gala.

34

Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Caroline Achaintre Hurvin Anderson Mamma Andersson Phyllida Barlow Phoebe Collings-James Martin Creed René Daniëls Jesse Darling Adam Farah-Saad Mary Heilmann Thomas Hirschhorn Tam Joseph Anish Kapoor Allison Katz Matthew Krishanu Glenn Ligon Kerry James Marshall Jack O’Brien Christodoulos Panayiotou Michelangelo Pistoletto Walter Price Veronica Ryan OBE Zeinab Saleh Wilhelm Sasnal Yinka Shonibare David Shrigley Amy Sillman Vivien Suter Wolfgang Tillmans Kara Walker Christopher Wool Toby Ziegler

60[th] Anniversary Building Acquisition Fund

In our 60[th] year, Camden Art Centre’s future was secured for generations to come through the extraordinary generosity of the following:

Founders

Antony Gormley and Vicken Parsons Guy and Alexandra Halamish Donald Porteous

Building Benefactors

Erin Bell and Michael Cohen Batia and Idan Ofer / Idan & Batia Ofer Family Foundation The Foyle Foundation The Texel Foundation A4 Arts Foundation

Artists and Galleries

Lisa Brice Emelda and Fredrica Ltd Chantal Joffe Hauser & Wirth

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Allison Katz Laura Owens Lühring Augustine Sadie Coles HQ Wilhelm Sasnal Stuart Shave / Modern Art Sikkema Malloy Jenkins Yinka Shonibare OBE Amy Sillman Victoria Miro Kara Walker Christopher Wool

Support Us

Camden Art Centre is a charity, and we depend on the generosity of our supporters to help us invest in art and artists and ensure that our independent voice continues to be heard.

You can support our work today by making a donation, by joining as a Patron, or by purchasing an artist edition.

To find out more about supporting our work, please speak to a member of staff at our Shop.

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Camden Art Centre Trustees’ Report for the year ended 31[st] March 2025

Statement of Trustees’ Responsibilities

The trustees (who are also directors of Camden Arts Centre for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.)

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of its income and expenditure for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditor

Sayer Vincent LLP has indicated its willingness to continue in office and is deemed to be reappointed under sections 487(2) of the Companies Act 2006.

Small company rules

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

This report was considered and approved by the Board of Trustees on 20[th] October 2025 and signed on behalf of the Board by:

Guy Halamish, Chair of Trustees

37

Independent auditor’s report To the members of Camden Art Centre

Opinion

We have audited the financial statements of Camden Arts Centre (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Auditor’s 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 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 Camden Arts Centre'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 other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we 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:

38

Independent auditor’s report To the members of Camden Art Centre

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 trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, 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.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

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Independent auditor’s report To the members of Camden Art Centre

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Judith Miller (Senior statutory auditor)

6 November 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

40

Camden Art Centre

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2025

Note
£
Income from:
3
1,329,991
4
212,974
4
-
5
307,503
21,237
1,871,705
6
480,399
6
930,990
6
361,349
1,772,738
98,967
-
98,967
Reconciliation of funds:
726,390
825,357
Unrestricted
funds
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities
Other trading activities
Exhibitions
Education
Raising funds
Net income/(expenditure) for the
year
Total expenditure
Charitable activities
Exhibitions
Education
Total funds brought forward
Total funds carried forward
Transfers between funds
Net income/(expenditure) and
net movement in funds		 Note
£
Income from:
3
1,329,991
4
212,974
4
-
5
307,503
21,237
1,871,705
6
480,399
6
930,990
6
361,349
1,772,738
98,967
-
98,967
Reconciliation of funds:
726,390
825,357
Unrestricted
funds
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities
Other trading activities
Exhibitions
Education
Raising funds
Net income/(expenditure) for the
year
Total expenditure
Charitable activities
Exhibitions
Education
Total funds brought forward
Total funds carried forward
Transfers between funds
Net income/(expenditure) and
net movement in funds
Restricted funds
Restricted funds		 2025
Total
£
2,748,511
224,064
-
307,503
21,237		 2024
Total
£
2,124,264
224,870
972
207,350
10,710
Revenue
£
383,247
11,090
-
-
-		 Capital
£
1,035,273
-
-
-
-
1,871,705 394,337 1,035,273 3,301,315 2,568,166
480,399
930,990
361,349		 -
383,327
195,569		 -
210,691
90,296		 480,399
1,525,008
647,214		 312,469
1,549,201
506,874
1,772,738 578,896 300,987 2,652,621 2,368,544
98,967
-		 (184,559)
(170,000)		 734,286
170,000		 648,694
-		 199,622
-
98,967
726,390		 (354,559)
705,647		 904,286
764,618		 648,694
2,196,655		 199,622
1,997,033
825,357 351,088 1,668,904 2,845,349 2,196,655

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 20 to the financial statements.

41

Camden Art Centre

Balance sheet

Balance sheet
As at 31 March 2025 Company no. 02947191
Note
Fixed assets:
12
13
Current assets:
14
15
Liabilities:
16
18
20a
21a
Restricted funds
Restricted income funds
Restricted capital funds
Total restricted funds
Total unrestricted funds
Total funds
Cash at bank and in hand
Tangible assets
Long term debtors
General funds
Creditors: amounts falling due within one year
Net current assets
Total net assets
Creditors: amounts falling due after one year
Total assets less current liabilities
Funds:
Unrestricted funds:
Designated funds
Stock
Debtors		 343,309
557,666
783,805		 2025
£
559,783
1,814,860		 2024
£
792,106
-
2,374,643
527,032		 792,106
312,851
416,252
967,005
1,684,780
(1,157,748)		 1,696,108
(228,000)
1,468,108
2,901,675
(56,326)		 2,260,214
(63,559)
2,845,349 2,196,655
351,088
1,668,904		 705,647
764,618
2,019,992 1,470,265
190,074
635,283		 140,074
586,316
825,357 726,390
2,845,349 2,196,655

Approved by the trustees on 20 October 2025 and signed on their behalf by:

Porus Jungalwalla Guy Halamish Treasurer Chair

42

Camden Art Centre

Statement of cash flows

For the year ended 31 March 2025

For theyear ended 31 March 2025 For theyear ended 31 March 2025 For theyear ended 31 March 2025
Note
£
£
23
(195,762)
21,237
(8,675)
12,562
(183,200)
967,005
783,805
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
2025
Net cash (used in) investing activities
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Dividends and interest from investments
Purchase of fixed assets		 £
£
286,749
10,710
(21,147)
(10,437)
276,312
690,693
967,005
2024
783,805 967,005

43

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies

a) Statutory information

Camden Art Centre is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address and principal place of business is Arkwright Road, London, NW3 6DG.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

A trading subsidiary wholly owned by the charity was incorporated in February 2025, operational from April 2025 and exists to raise funder for the Charity to use for its charitable purposes. There was no activity in this subsidiary during the financial year and this has therefore not been consolidated in this set of financial statements.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Please refer to the going concern section in the annual report section for further disclosure.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income related to exhibitions at the Centre which span the year-end are accounted for in the year in which the major part of the exhibition takes place.

Touring income from exhibitions organised by the Centre and touring to other venues is accounted for on a receivable basis when income is confirmed.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

44

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Donations of works of art for the benefit of the charity are accounted for when gifted, and recognised on the basis of the value on the open market

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

45

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Support and governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity


of the amount attributable to each activity
Current Year Prior Year
Raising funds 19% 13%
Exhibitions 55% 59%
Education 26% 28%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £5,000. Items above £1,000 on discretion dependent on future intended use. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

� Building Development Over the term of the lease
� Furniture & Equipment 5 years
� Computer equipment 3 years
� Capital Refurbishment 5 years

The Building Development represents expenditure on the re-development of the Camden Art Centre. The development work is being depreciated from 8 March 2004, the date of practical completion, to 9 September 2027, the date of the expiry of the 25 year lease. Assets funded through the recent ACE capital expenditure programme and the London Borough of Camden capital funding are depreciated over five years on a straight line basis.

46

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

m) Stocks

Stocks are stated at the lower of cost and net realisable value. In general, cost is determined on a first in first out basis and includes transport and handling costs. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisation. Provision is made where necessary for obsolete, slow moving and defective stocks. Donated items of stock, held for distribution or resale, are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

n) 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.

o) Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

p) Cash at 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.

q) 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 measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

r) 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

s) Pensions

The company contributes to a defined benefit pension scheme operated by the London Borough of Camden for one employee. The charity's position is one of a stand alone arrangement, the employee has retired and the charity's remaining obligations in relation to this pension fund have been confirmed with the London Borough of Camden. These are accounted for in accordance with FRS 102 at the net present value of future obligations and the liability is accounted for at the balance sheet date.

The company makes contributions of 3-9% of gross pay to a defined contribution stakeholder pension scheme for eligible staff and contributes to the defined contribution personal pension schemes of some staff. The pension funds are held in externally administered schemes and the pension charge represents the amounts payable by the company to the funds in respect of the year.

47

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

2 Detailed comparatives for the statement of financial activities

Income from:
Donations and legacies
Charitable activities:
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Total expenditure
Net income / expenditure for the year
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward
Education
Education
Exhibitions
Exhibitions
Charitable activities:		 Unrestricted
funds
£
1,220,362
216,031
972
207,350
10,710		 Restricted funds Restricted funds 2024
Total
£
2,124,264
224,870
972
207,350
10,710
Revenue
£
898,902
8,839
-
-
-		 Capital
£
5,000
-
-
-
-
1,655,425 907,741 5,000 2,568,166
312,469
1,211,385
241,238		 -
170,995
194,141		 -
71,495
166,821		 312,469
1,453,875
602,200
1,765,092 365,136 238,316 2,368,544
(109,667)
-		 542,605
-		 (233,316)
-		 199,622
-
(109,667)
836,057		 542,605
163,042		 (233,316)
997,934		 199,622
1,997,033
726,390 705,647 764,618 2,196,655

3a Income from donations and legacies (current year)

Arts Council England
Friends and patrons
Donated goods and services
Fundraising events
Grants & donations		 Unrestricted
funds
£
366,380
750,000
73,461
48,150
92,000		 Restricted funds Restricted funds 2025
Total
£
1,724,900
810,000
73,461
48,150
92,000		 2024
Total
£
1,021,550
953,000
49,253
32,451
68,010
Revenue
£
323,247
60,000
-
-
-		 Capital
£
1,035,273
-
-
-
-
1,329,991 383,247 1,035,273 2,748,511 2,124,264

Arts Council England (ACE) income includes a National Portfolio Organisation grant of £600,000 (2024: £600,000), an ACE Transform grant of £150,000 (2024: £220,000), and a restricted ACE Transform grant of £60,000 (£133,000) as described in Note 20c.

48

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

3b Income from donations and legacies (prior year)

Income from donations and legacies (prior year)
Donated goods and services
Grants & donations
Arts Council England
Friends and patrons
Fundraising events		 Unrestricted
funds
£
250,648
820,000
49,253
32,451
68,010		 Restricted funds 2024
Total
£
1,021,550
953,000
49,253
32,451
68,010
Revenue
£
765,902
133,000
-
-
-		 Capital
£
5,000
-
-
-
-
1,220,362 898,902 5,000 2,124,264

4 Income from charitable activities

Exhibitions
Donated goods and services
Other Public
Publication sales
Artwork sales
Sub-total for exhibitions
Education
Fees for courses and events
Sub-total for education
Total income from charitable
activities		 Unrestricted
£
40,638
168,015
3,080
1,241		 Restricted
£
11,090
-
-
-		 2025
Total
£
51,728
168,015
3,080
1,241		 Unrestricted
£
15,333
171,477
15,343
13,878		 Restricted
£
8,839
-
-
-		 2024
Total
£
24,172
171,477
15,343
13,878
212,974
-		 11,090
-		 224,064
-		 216,031
972		 8,839
-		 224,870
972
- - - 972 - 972
212,974 11,090 224,064 217,003 8,839 225,842

Income from educational courses or any surplus from the courses is applied across the whole of the Charity's activities.

5 Income from other trading activities

Bookshop sales
Gallery and Studio hire
Donated artworks
Other income
Café		 2025
Total
£
128,774
83,794
68,983
19,226
6,726		 2024
Total
£
122,624
48,487
23,670
-
12,569
307,503 207,350

All income from other trading activities is unrestricted.

49

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

6a Analysis of expenditure (current year)

Staff costs (Note 8)
Direct costs
Marketing and advertising
Office costs & fees
Property costs
Building Lease
Recruitment
Legal and professional costs
Depreciation
Support costs
Governance costs
Total expenditure 2025
Total expenditure 2024		 Raising funds
£
177,957
-
32
54,088
-
-
-
-		 Charitable activities Charitable activities Governance
costs
£
-
-
-
-
-
-
-
13,785
-		 Support
costs
£
355,913
160
88,292
359,660
182,035
-
2,957
31,143
240,998		 2024
Total
£
1,089,985
504,614
88,324
424,867
182,092
73,856
2,957
44,928
240,998		 2024
Total
£
976,129
478,076
68,566
337,707
197,710
-
7,225
49,076
254,054
Exhibitions
£
378,158
382,825
-
11,090
57
51,699
-
-
-		 Education
£
177,957
121,629
-
29
-
22,157
-
-
-
321,772
322,100
3,342
647,214
602,200
232,077
244,980
3,342		 823,829
694,078
7,101		 13,785
-
(13,785)		 1,261,158
(1,261,158)
-		 2,652,621
-
-		 2,368,543
-
-
480,399 1,525,008 - - 2,652,621 2,368,543
312,469 1,453,875 - (1)

50

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

6b Analysis of expenditure (prior year)

Staff costs (Note 8)
Direct costs
Marketing and advertising
Office costs & fees
Property costs
Recruitment
Legal and professional costs
Depreciation
Support costs
Governance costs
Total expenditure		 Raising funds
£
108,459
227
-
50,725
-
-
-
-		 Charitable activities Charitable activities Governance
costs
£
-
-
-
-
-
-
17,675
-		 Support
costs
£
325,376
473
68,490
278,107
197,700
7,225
31,401
254,054		 2024
Total
£
976,129
478,076
68,566
337,707
197,710
7,225
49,076
254,054
Exhibitions
£
368,760
374,975
-
8,875
10
-
-
-		 Education
£
173,534
102,401
76
-
-
-
-
-
159,411
150,112
2,946		 752,620
691,239
10,016		 276,011
321,476
4,713		 17,675
-
(17,675)		 1,162,826
(1,162,827)
-		 2,368,543
-
-
312,469 1,453,875 602,200 - (1) 2,368,543

51

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

7 Net income / (expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2025 2024
£ £
Depreciation 240,998 254,054
Auditor's remuneration (excluding VAT):
Audit 12,750 12,150

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Social security costs
Employer’s contribution to defined contribution pension schemes
Salaries and wages
Consultancy		 2025
£
951,365
86,766
38,716
13,138		 2024
£
829,875
70,957
35,467
39,830
1,089,985 976,129

The following number of employees received employee benefits in excess of £60,000 (excluding employer pension costs and employer's national insurance) during the year between:

2025 2024
No. No.
£60,000 - £69,999 1 -
£80,000 - £89,999 1 1

The total employee benefits (including employer pension contributions and employer's national insurance) of the key management personnel were £178,895 (2024: £170,559).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £0 (2024: £0)

52

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

9 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 37 (2024: 34). The FTE were as follows, split across the key activities of the charity:

Exhibitions
Raising funds
Education
Bookshop and reception
Premises and administration		 2025
No.
4.0
8.5
4.0
3.0
5.0		 2024
No.
2.5
8.5
4.0
2.5
5.0
24.5 22.5

10 Related party transactions

Aggregate donations from trustees were £150,362 (2024: £187,570).

Restricted donations from related parties were £nil (2024: £3,000 from Charlotte Bonham Carter Charitable Trust, of which trustee Eliza Bonham-Carter was a trustee).

A membership fee payment of £256 made to FRANK, a community interest company of which Trustee Anne Hardy was a director of the Charity until 21 October 2024 is a founding member: she was not involved in the decision to make payment (2024: £256 for equivalent transaction).

Adele Bezzetto, youth trustee, was paid £1,464 (2024: £nil) for work as an assistant on learning programmes.

Eva Langret vice chair is Director of Frieze London, and we have the emerging artist prize in partnership with Frieze which involved income of £45,268 and expenditure of £25,860 in the year (2024: £nil as Eva was not a Trustee last year).

11 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

53

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

12 Tangible fixed assets

Tangible fixed assets
Disposals in year
Eliminated on disposal
Cost
Depreciation
At the start of the year
Additions in year
Net book value
At the end of the year
At the end of the year
At the start of the year
Charge for the year
At the end of the year
At the start of the year		 Building
Development
£
4,598,087
-
-		 Furniture &
Equipment
£
90,391
-
(8,558)		 Computer
equipment
£
18,819
605
(8,195)		 Capital
Refurbishment
£
583,512
8,070
(152,755)		 Total
£
5,290,809
8,675
(169,508)
4,598,087 81,833 11,229 438,827 5,129,976
3,957,313
183,078
-		 70,001
9,391
(8,558)		 16,938
1,560
(8,195)		 454,451
46,969
(152,755)		 4,498,703
240,998
(169,508)
4,140,391 70,834 10,303 348,665 4,570,193
457,696 10,999 926 90,162 559,783
640,774 20,390 1,881 129,061 792,106

Building development comprises the cost, including relevant fees, of the refurbishment of the Centre's leasehold premises. The premises are held on a 25 year lease from Camden Council. The realisable value of the lease is limited as it specifically states that the premises can only be used "for the purpose of the advancement of the education of the public of the understanding and appreciation of the Arts". The lease also states that any disposal of the lease will be restricted in accordance with Section 117 of Charities Act 2011. We were delighted to sign and exchange agreement with London Borough of Camden for a new 99-year building lease on our iconic Grade II listed building in December 2024 which following completion will become operational from September 2027 at expiry of the current lease, securing the centre for future generations We met our £1 9m fundraising target for this in May 2025 Arts Council England has a charge on the property worth £250,000 for a 20 year period from 15 January 2005. A previous floating charge on the building for £2.6m for a 20 year period from 18 September 2002 expired in 2022.

All of the above assets are used for charitable purposes.

13 Long Term Debtors

2025 2024
£ £
Prepayments 1,814,860 -
1,814,860 -

Prepayments include £1,814,860 building lease premium costs, of which £929,060 was paid in year and £885,800 is due.

14 Stock

Donated artwork stock
Bookshop stock		 2025
£
33,322
309,987		 2024
£
25,832
287,019
343,309 312,851

54

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

15 Debtors

Debtors
Other debtors
Prepayments
Accrued income
VAT
Trade debtors		 2025
£
137,206
326,133
94,010
317
-		 2024
£
37,568
343,546
29,295
279
5,564
557,666 416,252

All financial instruments, both assets and liabilities, are measured at amortised cost. The carrying values of these are shown above and also in note 15 below.

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Deficit reduction plan pension liability (note 18)
Accruals
Building lease costs payable
Deferred income (note 16)
Trade creditors
Taxation and social security
Other creditors		 2025
£
885,800
147,353
19,680
8,266
82,336
2,313
12,000		 2024
£
-
88,470
20,497
16,659
88,724
1,650
12,000
1,157,748 228,000

Building lease costs are amounts due to be paid per the lease purchase agreement. This forms part of the prepaymement figure in Note 14.

17 Deferred income

Deferred income comprises education fees received in advance of the period the educational activity occurs.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2025
£
1,650
(1,650)
2,313		 2024
£
1,933
(1,933)
1,650
2,313 1,650

55

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

18 Creditors: amounts falling due after one year

Creditors: amounts falling due after one year
Deficit reduction plan pension liability (note 18):
Amounts due within two to five years
Amounts due in more than five years		 2025
£
40,191
16,135		 2024
£
40,191
23,368
56,326 63,559

19 Pension scheme

Amounts included in Creditors under "Deficit Reduction Plan" represent a liability to the London Borough of Camden to settle amounts due under a superannuation scheme which has now closed. The amount of the liability is being paid in equal instalment of £12,000 per annum over a 15 year period commencing in the charity's 2017/18 financial year. This liability is accounted for in full at net present value, taking account of an imputed interest rate of 7.5%. These assumptions and the resulting liability may vary depending on changes to underlying interest rates over time.

20a Analysis of net assets between funds (current year)

Net current assets
Net assets at 31 March
Long term liabilities
Tangible fixed assets		 Unrestricted funds
£
705,739
175,944
(56,326)		 Restricted
revenue funds
£
-
351,088
-		 Restricted
capital funds
£
1,668,904
-
-		 Total funds
£
2,374,643
527,032
(56,326)
825,357 351,088 1,668,904 2,845,349

20b Analysis of net assets between funds (prior year)

Tangible fixed assets
Net current assets
Long term liabilities
Net assets at 31 March		 Unrestricted funds
£
27,488
762,461
(63,559)		 Restricted
revenue funds
£
-
705,647
-		 Restricted
capital funds
£
764,618
-
-		 Total funds
£
792,106
1,468,108
(63,559)
726,390 705,647 764,618 2,196,655

56

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

21a Movements in funds (current year)

Restricted funds:
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Unrestricted funds:
Building Fund
Revenue funds
Capital funds
LB Camden s106 project
LB Camden CIL project
LB Camden CIL 2
Exhibitions
Minor works
Building Development
Building development
Strategic Investment Fund
Exhibitions: Artists for Artists
Designated funds:
Lease Work
Education
Building Fund
Business
ACE Transform Funding		 At 1 April 2024
£
57,566
170,000
119,000
185,548
91,493
82,040
1,958
10,613
107,273
-
640,774
4,000		 Income & gains
£
60,000
-
-
110,564
223,773
-
-
-
-
1,035,273
-
-		 Expenditure &
losses
£
(88,670)
-
(102,000)
(138,368)
(227,358)
(22,500)
(1,958)
(5,337)
(35,758)
(73,856)
(183,078)
(1,000)		 Transfers
£
-
(170,000)
-
-
-
-
-
-
-
170,000
-
-		 At 31 March
2025
£
28,896
-
17,000
157,744
87,908
59,540
-
5,276
71,515
1,131,417
457,696
3,000
1,470,265 1,429,610 (879,883) - 2,019,992
53,500
60,000
26,574		 -
-
-		 -
-
(19,500)		 69,500
-
-		 123,000
60,000
7,074
140,074 - (19,500) 69,500 190,074
586,316 1,871,705 (1,753,238) (69,500) 635,283
726,390 1,871,705 (1,772,738) - 825,357
2,196,655 3,301,315 (2,652,621) - 2,845,349

57

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

21b Movements in funds (prior year)

Restricted funds:
Total restricted funds
Total designated funds
General funds
Unrestricted funds:
Designated funds:
Building Development
Education
Minor works
Strategic Investment Fund
LB Camden s106 project
Exhibitions: Artists for Artists
Capital funds
LB Camden CIL project
Building Fund
ACE Transform Funding
Building Fund
Business
LB Camden CIL 2
Total funds
Revenue funds
Exhibitions
Total unrestricted funds
Lease Work		 At 2 April 2023
£
-
-
-
27,501
31,001
104,540
3,120
27,931
143,031
823,852
-		 Income & gains
£
133,000
170,000
140,000
323,258
141,483
-
-
-
-
-
5,000		 Expenditure &
losses
£
(75,434)
-
(21,000)
(165,211)
(80,991)
(22,500)
(1,162)
(17,318)
(35,758)
(183,078)
(1,000)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
2024
£
57,566
170,000
119,000
185,548
91,493
82,040
1,958
10,613
107,273
640,774
4,000
1,160,976 912,741 (603,452) - 1,470,265
90,000
60,000
45,000		 -
-
-		 -
-
-		 (36,500)
-
(18,426)		 53,500
60,000
26,574
195,000 - - (54,926) 140,074
641,057 1,655,425 (1,765,092) 54,926 586,316
836,057 1,655,425 (1,765,092) - 726,390
1,997,033 2,568,166 (2,368,544) - 2,196,655

21c Purposes of funds

Purposes of restricted funds

ACE Transform Fund - Transitional funding from Arts Council England which covers business development and consultancy costs to support future organsational change.

Building Fund - Fundraising in relation to building lease purchase and development, which has been recategorised to Capital from 2024/25.

Business - Corporate fundraising to support future projects, including Bloomberg Digital Accelerator Programme.

Exhibitions - income from individuals through Exhibition Circles, Trusts & Foundations and UK and international arts agencies and commercial gallery partners, as well as funds raised through our Emerging Artist Prize, for the purpose of presenting exhibitions of UK and non-UK artists.

Exhibitions: Artists for Artists - Fund that was created in 2017 through fundraising events for the Gallery's 50th Anniversary to support artist-led projects, commissions and residency programmes that will enable artists to continue to take risks with new ideas and to push the boundaries of their own practice.

Education - Income mainly from Trusts & Foundations supporting our learning programmes including Special Educational Needs, Family, Schools and Youth programmes.

58

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

21c Purposes of funds (continued)

Purposes of restricted funds (continued)

LB Camden s106 project - A grant of £172,323 from London Borough of Camden S106 funds towards a series of improvement works completed between 2016-2021. Works include environmental building upgrades such as solar panels, rainwater harvesting tanks, a computerised building management system and interior LED lighting, and improvements to public areas such as our garden walkway. Expenditure represents depreciated costs.

Community Infrastructure Levy (CIL) awarded via LB Camden - A grant of £76,729 in 2019/20 towards a series of improvement works in our café and garden.

CIL 2 - A further grant of £158,837 awarded by LB Camden in 2022/23 towards our shop and lobby refurbishment.

Building development - the depreciation cost, including relevant fees, of the refurbishment of the Centre's leasehold premises. The premises are held on a 25 year lease from Camden Council.

Minor works - Restricted grants including Rose Foundation grant in FY23/24 in relation to building improvements.

Purposes of designated funds

A designated funds for building development costs was set up in 2018/19 for unforeseen and urgent building works. A new fund was set up in 2022/23 to support anticipated future lease renewal costs, including anticipated legal and fundraising expenses. A new strategic investment fund was set up in 2022/23 to utilise unrestricted donations to support future years' budgets as we transition to lower levels of public funding.

22 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net (expenditure) / income for the reporting period
(as per the statement of financial activities)
Depreciation charges
Dividends and interest from investments
Decrease in stocks
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operating activities		 2025
£
648,694
240,998
(21,237)
(30,458)
(1,956,274)
922,515		 2024
£
199,622
254,054
(10,710)
56,776
(177,488)
(35,505)
(195,762) 286,749

23 Operating lease commitments

The Centre's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Less than one year
Two to five years		 2025
2024
£
£
7,466
7,466
26,823
34,289
34,289
41,755
Equipment		 2025
2024
£
£
7,466
7,466
26,823
34,289
34,289
41,755
Equipment
34,289 41,755

59

Camden Art Centre

Notes to the financial statements

For the year ended 31 March 2025

24 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

25 Post balance sheet events

A Trading Subsidiary wholly owned by the Charity was incorporated in February 2025, operational from April 2025 and exists to raise funds for the Charity to use for its charitable purposes. There were no financial transactions during 2024/25.

60