OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2026-03-31-accounts

Company number: 3450832 Registered Charity number: 1065963 (England & Wales)

TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

PAINTINGS IN HOSPITALS

TABLE OF CONTENTS

Page
Reference and administrative information 1
Trustees’ report 3
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Cash Flow Statement 10
Notes to the financial statements 11

PAINTINGS IN HOSPITALS

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2026

Patrons

Lord Browne of Madingley Rt Rev’d and Rt Hon The Lord Chartres – resigned 4 December 2023 Dr Richard Cork Andrew Hochauser KC Roger Phillimore The Rt Rev’d and Rt Hon Dame Sarah Mullally DBE, Bishop of London

Artist Patrons Ian Davenport Anita Klein – from 10 May 2024 Sir Antony Gormley OBE Maggi Hambling CBE Bridget Riley CH CBE

Current Trustees

Christopher Turner – Appointed 29 July 2025 Brigid Rentoul – Appointed 29 July 2025 Nicholas Gash – Appointed 29 July 2025

Previous trustees

Prof Jane Anderson CBE – resigned 29 July 2025 Prof Marion Lynch – resigned 29 July 2025 Robert Milburn – resigned 29 July 2025 Farha Quadri – resigned 29 July 2025 Patrick Bourne – resigned 29 July 2025 Amanda Pinto KC – resigned 29 July 2025 Catherine Vickery – resigned 29 July 2025

Company Secretary James Varley – appointed 29 July 2025 Company number 3450832 Charity number 1065963 (England and Wales) Registered office 4 Verney House 1B Hollywood Road London SW10 9HS Executive Director Stephen Crampton-Hayward – (interim) from 1 November 2024 until 29 July 2025 Chris Chaney – from 29 July 2025

1

PAINTINGS IN HOSPITALS

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2026

Independent examiner Adam Fullerton FCA DChA Moore Kingston Smith 6th Floor 9 Appold Street London EC2A 2AP Principal Bankers HSBC plc London Bridge Branch 28 Borough High Street London SE1 1YB Legal Advisors Withers 20 Old Bailey London EC4M 7AN

2

PAINTINGS IN HOSPITALS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2026

The trustees (who are also directors of the company for the purposes of the Companies Act) present their report and the financial statements for the year ended 31 March 2026. The Reference and Administrative information on pages 1 and 2 form part of this report.

The trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the company's governing document, and the provisions of "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019) (Charities SORP (FRS 102)).

Objectives and Activities

The objects of the Charity are to use art and creative activities to improve the health, well-being and quality of life of persons suffering from addiction, illness, injury, disorder, or disability, including (without limitation) any disability or disorder on the autistic spectrum in any location or establishment where any such person is resident or in attendance or where any such person is in receipt of treatment, therapy, convalescence, training, education, or assistance.

In setting Paintings in Hospitals’ objectives and planning its activities, the trustees considered the Charity Commission’s general guidance on public benefit as required in section 17 of the Charities Act 2011 and, in particular, its supplementary public benefit guidance on fee charging.

The work of Paintings in Hospitals is recognised by the Department of Health and Social Care, the Care Quality Commission (CQC), NHS England and NHS Wales. The charity’s approach was based on a range of research and evidence, demonstrating the positive effects of displaying and creating visual arts in a wide range of health and social care settings.

The charity’s objects are primarily achieved through our art loans programme, which exists to help create person-centred care spaces that encourage, enrich, and empower everyone who uses them. Experience over 65 years has allowed us to develop a unique collection of over 3,000 artworks. Its art ranges from paintings and drawings to sculptures and animations, some by the world’s greatest artists. All types of health and social care sites can borrow art from the collection.

Structure, Governance and Management

Paintings in Hospitals was established by Trust Deed in 1959 and registered with the Charity Commission in May 1972. Our organisation is a charitable company, limited by guarantee and operates in accordance with its Articles of Association adopted on 16 October 1997 (as subsequently amended).

On 29 July 2025, the charity successfully transferred its business as a going concern to CWPLUS (registered charity number 1169897). This strategic move ensures continuity of services and strengthens the charity’s ability to deliver its mission under the stewardship of CWPLUS. All assets, liabilities, and ongoing operations were transferred under a binding transfer agreement in accordance with applicable regulations, safeguarding the interests of beneficiaries and stakeholders.

Trustees

The Charity was chaired by Professor Jane Anderson CBE until 29 July when the transfer to CWPLUS took place. Following the merger with CWPLUS on 29 July the Board of Trustees was replaced by three CWPLUS trustees: Christopher Turner, Brigid Rentoul, and Nicholas Gash.

3

PAINTINGS IN HOSPITALS

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2026

Board Committees

During the year there were two committees: Finance & General Purpose, and Strategic Engagement. Each committee was chaired by a nominated trustee and has a mix of skills, and its own terms of reference which are reviewed annually and signed off by the Board. Fundraising was overseen by the Finance & General Purposes Committee and at Board level. The Committees were disbanded following the transfer to CWPLUS.

Risk Management

In the period prior to the transfer of its business to CWPLUS, the trustees regularly updated the risk register and risk management processes which comprised:

This risk management work identified a relatively small number of key risks, but ongoing review resulted in improvements through the implementation of management and mitigation procedures and increased contingency planning. Both financial and non-financial risks were included in the register. The last Board review of the risk register was on 8 March 2025, but it was carefully considered in detail in the period leading up to the merger with CWPLUS.

The most significant risks identified by the Trustees related to the charity’s continuing viability in the face of:

  1. Spending constraints imposed on the NHS by Government, which affect the ability to maintain and expand our artwork loan programme.

  2. A significant tightening of philanthropic funding, particularly from trusts and foundations, which is being felt throughout the charity sector.

  3. Increased costs following two years of high rates of inflation.

However, the transfer of its business activities to CWPLUS after the year end on 29 July 2025 has secured substantial support for the future of the charitable business activities.

Achievements and Performance

The Trustees measure success through the number of care partners the charity has, where it is working, who it is working with, and the number of engagements it has with patients and staff. To enable care sites and their service users to get the most from the artworks the charity offers creative activities that provide the knowledge and confidence to engage with visual art. These activities often involve service users choosing the artworks they want for display, giving them a say in their own care experiences and improving levels of wellbeing. This activity was taken over by CWPLUS on 29 July 2025.

4

PAINTINGS IN HOSPITALS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2026

Our Collection

On 29 July 2025 when transfer of assets to CWPLUS took place, there were 3,183 artworks in our collection which were transferred to CWPLUS at a valuation of £1,025,810.

Fundraising

The charity relied on the generosity of trusts, foundations, and individual donors to supplement its income from the artwork loan programme. In the year to 31 March 2026, we received donations of £4,017 (2025: £81,279).

Financial Review

Paintings in Hospitals transferred its business including all its assets and liabilities as a going concern to CWPLUS on 29 July. It therefore did not hold any assets at the year-end.

Income in the period to 29 July 2025 was £989,270 (Year end March 31 2025: £489,333). This includes £835,997 (2025: £123,194) of income recognised as a result reclassifying the collection, which were not valued in the accounts, as current asset investments in advance of the transfer to CWPLUS. In addition, artworks were sold for £117,987.

The net value of assets transferred to CWPLUS on merger was £1,013,729.

Going concern

The financial statements have been prepared on a basis other than that of a going concern.

Transfer to CWPLUS

On 29 July 2025, the charity successfully transferred its business to CWPLUS (registered charity number 1169897). This strategic move ensures continuity of services and continued delivery of the charity’s mission under the stewardship of CWPLUS.

All assets, liabilities, and ongoing operations were transferred under a binding transfer agreement in accordance with applicable regulations, safeguarding the interests of beneficiaries and stakeholders.

Reserves

The trustees do not consider it necessary to retain a balance in reserves because liabilities are transferred to CWPLUS under the transfer agreement.

5

PAINTINGS IN HOSPITALS

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2026

Patronage

The Trustees are particularly grateful to the unwavering support and guidance of all our Patrons. Patrons help raise awareness, expand national reach and advocate for all that charity does.

The trustees were deeply saddened to hear of the death of Dame Stephanie Shirley CH, Patron and benefactor of Paintings in Hospitals, on Saturday 9 August 2025.

Dame Stephanie was a great friend, generous funder and advocate of the work of Painting in Hospitals. It was an honour to have her as a Patron of the charity.

Statement of Trustees’ responsibilities

This Trustees’ report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

The trustees (who are also the Directors of Paintings in Hospitals for the purposes of company law) are responsible for preparing a Trustees’ annual report and accounts in accordance with applicable law and regulations and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to select suitable accountancy policies and then apply them consistently;

The trustees are responsible for keeping accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any one time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are also responsible for the maintenance and integrity of financial information, including that on the updated website.

This report was approved by the trustees on 31 July 2026 and signed on their behalf by

Brigid Rentoul, Trustee

Nicholas Gash, Trustee

6

PAINTINGS IN HOSPITALS

INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF PAINTINGS IN HOSPITALS FOR THE YEAR ENDED 31 MARCH 2025

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2026.

Responsibilities and basis of report

As the trustees of the charitable company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company’s accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

I have no other concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Adam Fullerton FCA DChA Moore Kingston Smith 6th Floor 9 Appold Street London EC2A 2AP

Date: 7 August 2026

7

PAINTINGS IN HOSPITALS

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2026

Notes
Income from:
Donations, grants and legacies
2
Charitable activities
3
Investments
Other income
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Transfer of Assets on merger with
CWPLUS
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward:
Total funds carried forward
18		 Restricted
funds
Unrestricted
funds
2026
£
2026
£
-
958,001
-
30,169
-
-
-
1,100
-
989,270
-
12,686
5,645
116,292
-
1,013,729
(5,645)
(1,142,707)
(5,645)
(153,437)
5,645
153,437
-
-		 Total
funds
2026
£

958,001
30,169
-
1,100
989,270
12,686
121,937
1,013,729
(1,148,352)
(159,082)
159,082
-		 Total
funds
2025
£
303,807
117,259
2,925
65,342
489,333
39,637
415,931
-
(455,568)
33,765
125,317
159,082

8

PAINTINGS IN HOSPITALS (A company limited by guarantee)

BALANCE SHEET AS AT 31 MARCH 2026

Notes
Fixed Assets
Tangible assets
10
Current assets
Current asset investments
12
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Net assets
Charity funds
Unrestricted funds
Restricted funds
Total funds
15		 2026
£
-
-
-		 2026
£
-
-




-
-
-
-
-		 2025
£
187,795
43,302
97,316		 2025
£
313
-
-

For the financial year ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006.

The financial statements were approved by the Board of Trustees on 31 July 2026 and signed on their behalf by:

Brigid Rentoul, Trustee Nicholas Gash, Trustee

Company registration number: 3450832

9

PAINTINGS IN HOSPITALS (A company limited by guarantee)

CASH FLOW STATEMENT
YEAR ENDED 31 MARCH 2026
Cash flow from operating activities
Net cash used by operating activities
Cash flows from investing activities
Investment Income
Transfer of fixed assets to CWPLUS
Cash flow from financing activities
Repayment of Loan
Change in cash or cash equivalents in the reporting
period
Cash and cash equivalents at the beginning of the
reporting period
Change in cash and cash equivalents in the reporting
period
Cash or cash equivalents at the end of the reporting
period
Net (expenditure)/income for the reporting period (as
per the statement of financial activities)
Adjustments for:
Depreciation
Depreciation released on asset transfer
Decrease in debtors
(Decrease) in creditors
Net cash used by operating activities
Analysis of cash and cash equivalents
Cash ant bank and in hand
Total cash and cash equivalents		 2026
£
-
97,316
(97,316)		 2026
£
2025
£
(223,075)
-
187,795
(62,036)
97,316
-
(159,082)
562
-
36,634
(8,016)
(63,993)
(223,075)
-
-		 2025
£
260,020
2,925
(123,195)
(25,012)
85,262
182,578
(85,262)
104
209
43,302
(107,608)		 97,316
33,765
26,255
60,020
97,316
97,316

10

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

1.1 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)" (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Paintings in Hospitals meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are presented in pounds sterling and rounded to the nearest pound.

1.2 Going concern

The financial statements have been prepared on a basis other than that of a going concern.

On 29 July 2025, the charity successfully transferred its business to CWPLUS (registered charity number 1169897). This strategic move ensures continuity of services and continued delivery of the charity’s mission under the stewardship of CWPLUS. All assets, liabilities, and ongoing operations were transferred under a binding transfer agreement in accordance with applicable regulations, safeguarding the interests of beneficiaries and stakeholders.

As this charity has no ongoing activity or business, as it will all now be conducted by CWPLUS, the trustees consider it appropriate to prepare the financial statements on a basis other than that of a going concern.

No amendments were needed to the recognition and measurement of assets, liabilities, income or expenditure and no additional provisions have been included as a consequence of the transfer of business to CWPLUS and the financial statements being prepared on a basis other than that of a going concern.

1.3 Company status

Paintings in Hospitals is a charitable company limited by guarantee incorporated in England and Wales. The address of the registered office is 4 Verney House, 1B Hollywood Road, London, SW10 9HS. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

.

11

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

1.4 Income

Income from donations, grants and legacies is recognised when the charity has entitlement to the income, it is probable it will be received and the amount can be measured reliably. For donations this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions which must be met before the charity is entitled to the funds. Legacies are recognised following the grant of probate when the executor of the estate has communicated in writing both the amount and settlement date. Donated services are recognised in the period in which they are utilised and are measured at their estimated fair value. Donated paintings are included in incoming and outgoing resources at an estimate of their value.

Loan programme income is apportioned over the period of the rental agreements. Income received in advance is accounted for as deferred income.

Income from other trading activities relates to art print sales and gift shop sales and is accounted for in the period in which the charity is entitled to receipt.

Investment income is recognised when it is receivable.

1.5 Expenditure

Expenditure is recognised on an accruals basis as incurred. Expenditure has been classified under headings that aggregate all costs related to the category.

Direct costs are those costs which are directly attributable to the charity's activities. Wages and salaries are allocated to direct costs based on the estimate of time spent on charitable activities by staff members.

Support costs are those costs relating to functions which assist the work of the charity but do not directly relate to its activity. Support costs are allocated to charitable activities on the basis of direct costs.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is charged so as to write off the cost less their residual values over their expected useful lives at the following annual rates:

Furniture and fittings - 25% Straight line Computer expenditure - 33% Straight line

12

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

1.7 Current asset investments

Current asset investments comprise artworks held for sale and are carried at their estimated realisable value, based on historical experience of the sales prices achieved on previous sales relative to the insurance valuations of those artworks. When such artworks are sold, a profit or loss is recognised for the difference between the carrying value and the proceeds.

1.8 Financial Instruments

The charity only has financial instruments which are classified as basic financial instruments. Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the Statement of Financial Activities.

1.9 Fund accounting

The unrestricted funds can be spent on any activity within the charity’s overall objectives. Restricted funds are those subject to specific conditions imposed by the donors. Expenditure which meets these criteria is allocated to the fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.10 Operating leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the lease term.

1.11 Pension contributions

The charity makes defined contributions into employee private pension schemes. Contributions are charged to the statement of financial activities as they become payable.

2
Income from donations, grants and legacies
Donations and grants
Previously donated artworks		 2026
£
4,017
953,985
958,001		 2025
£
81,279
222,528
303,807

Previously donated artworks represented the contribution from assets which were deaccessioned from the heritage loan collection and either sold in the year or transferred to CWPLUS. Donations and Grants Income for restricted funds was £nil (2025: £3,038).

13

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

3
Income from charitable activities
Loan programme
Other trading activities
4
Other income
Museums, Exhibitions and Galleries Tax relief
Interest receivable
5
Expenditure on raising funds
Costs of events
Donations and grants
Support costs_(Note 8)_		 2026
£
28,438
1,731
30,169
2026
£
-
1,100
1,100
2026
£
2,498
8,744
1,443
12,686		 2025
£
104,741
12,519
117,259
2025
£
65,342
-
65,342
2025
£
12,635
18,928
8,074
39,637

Costs of events, donations and grants include staff costs of £11,243 (2025: £31,178).

6 Expenditure on charitable activities
Projects and programmes
Loan programme
Trading expenses		 Direct
costs
2026
£
4,019
104,932
-
108,951
(Note 7)		 Support
Costs
2026
£
1,443
10,822
721
12,986
(Note 8)		 Total
costs
2026
£
5,462
115,754
721
121,937		 Total
costs
2025
£
33,356
370,685
11,890
415,930

Expenditure on restricted funds in the comparative period was £5,645.

14

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

7 Direct costs
Staff costs
Freelance and consultancy costs
Collection management
Picture transport
Cost of projects
Premises expenses
Office costs
Travel and accommodation
Marketing and IT
Other costs
Depreciation
8 Support costs
Temporary support costs
Premises expenses
Office costs
Travel and accommodation
Other costs
Loan Interest
Other interest paid
Depreciation
Bad debts
Accountancy and consultancy fees
Governance costs:
Legal and professional fees
Allocated to:
Raising funds
Charitable activities		 2026
£
26,233
41,150
6,445
7,429
-
17,252
929
509
8,712
240
52
108,951

2026
£
5,280
908
49
27
263
2,110
8
52
-
306
5,427
14,429
1,443
12,986		 2025
£
106,835
87,954
6,235
21,768
761
52,419
4,312
8,265
51,725
2,707
281
343,262
2025
£
40,045
2,759
227
435
1,037
5,149
-
281
225
22,036
8,550
80,743
8,074
72,669

15

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

9
Staff costs
Wages and salaries
Social security costs
Pension costs		 2026
£
36,743
-
732
37,476		 2025
£
175,696
11,266
1,634
178,058

The average monthly number of employees during the year was as follows :

Loan Programmes
Administrative		 2026
No.
1
2
3		 2025
No.
1
4
5

No employee received remuneration amounting to more than £60,000 in either year.

No remuneration, other benefits or reimbursed expenses were paid to the Trustees for the year ended 31 March 2026 (2025: none). No donations were received from trustees (2025: no donations).

10 Net expenditure
2026 2025
£
 £
This is stated after charging:
Independent examiner's remuneration - 1,800
Depreciation 104 562

16

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

11 Tangible fixed assets

11
Tangible fixed assets
Cost
At 1 April 2025
Transfer to CWPLUS
At 31 March 2026
Depreciation
At 1 April 2025
Charge for the year
Released on transfer
At 31 March 2026
Net book value
At 31 March 2026
At 31 March 2025
12
Current asset investments
Artworks held for sale
13 Debtors
Trade debtors
Prepayments and accrued income
Other debtors		 Furniture
£
3,175
(3,175)
-
2,862
104
(2,966)
-
-
313		 Equipment
£
2,312
(2,312)
-
2,312

-
(2,312)
-
-
-

2026
£
-

2026
£
-
-
-
-		 Total
£
5,487
(5,487)
-
5,174
104
5,278
-
-
313
2025
£
187,795
2025
£
29,984
6,357
6,960
43,302

17

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

14 Creditors: amounts falling due within one year

Rentals of paintings in advance
Cultural Impact Development loan
Accruals and other creditors
Taxation and social security
The loan bears interest of 7.8% and was repaid in
15
Statement of funds
Current year
Brought
forward
£
Unrestricted funds
General fund
153,437
Restricted funds
Jerwood Foundation
5,645
Total funds
159,082
Statement of funds
Prior year
Brought
forward
£
Unrestricted funds
General fund
86,921
Restricted funds
Jerwood Foundation
15,813
National Arts Collection
20,583
Finnis Scott
2,000
Total restricted funds
38,396
Total funds
125,317		 2026
£
-
-
-
-
full in August 2025.
-
Income

Expenditure
£
£
989,270
(1,142,707)
-
(5,645)
989,270
(1,148,352)
Income
Expenditure
£
£
486,295
(419,779)
-
(10,168)
3,038
(23,621)
-
(2,000)
3,038
-
489,333
(455,568)		 2026
£
-
-
-
-
full in August 2025.
-
Income

Expenditure
£
£
989,270
(1,142,707)
-
(5,645)
989,270
(1,148,352)
Income
Expenditure
£
£
486,295
(419,779)
-
(10,168)
3,038
(23,621)
-
(2,000)
3,038
-
489,333
(455,568)		 2025
£
67,072
62,036
35,116
5,420
169,644
Carried
forward
£
-
-
-
Carried
forward
£
153,437
5,645
-
-
5,645
159,082

18

PAINTINGS IN HOSPITALS (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

The Jerwood Foundation awarded a grant of £10,000 each year for three years to conserve and frame artwork within the charity's collection. Significant artworks will be selected with prioritisation being on works that can be placed immediately within partner sites. £25,813 has been expensed in the year.

The National Arts Collection awarded a grant of £30,383 towards engaging a freelance Impact and Evaluation Consultant over a 15-month period to support staff. This Consultant began work in October 2023.

Finnis Scott awarded a grant of £2,000 to assist with the costs of the rationalisation of storage space. Work on this began in April 2024.

16 Analysis of net assets between funds

Fixed assets
Current assets
Liabilities		 Restricted
funds
2026
£
-
-
-
-		 Unrestricted
funds
2026
£
-
-
-
-		 Total funds
2026
£
-
-
-
-		 Total funds
2025
£
313
328,413
(169,644)
159,082

Total funds for 2025 included restricted funds of £5,645.

19