SWAC
SOUTH WEST
ACADEMY
South West Academy of F.ine and Applied Arts
(A company limited by guarantee)
Report and Financial Statements Year ending 31 March 2025
Charity number 1087350
Company number: 04243361
•AEIWL TMKt*
1711212025
COMPANIES HOUSE
A34
#22

The Soulh Wesi
Academy
The South West Academy of Fine and Applied Arts.
Report of The Trustees for the year ending 31st March 2025.
The Trustees are pleased to present their annual directors, report together with the financial
statements forthe year ended 31st March 2025 which are also prepared to meet the requirements for
directors, report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of A5$0ciation, and Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts Sn accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 las
amended for accounting periods commencing 1st January 2016).
For
The year from April 2024 to the end of March 2025 saw The Academy begin to plan for its 25
Anniversary celebrations and two major exhibitions as well as The Annual Open Exhibition.
th
Durin8 the year, the Board of Trustees further increased in number with a settled and workmanllke
programme continuing.
Monthly Report.
March.
The Thelma Hulbert Gallery ITHGI SWAC Exhibition begun with an excellent social event held at The
Beehive close to the THG gallery. We were delighted to welcome our new President John Nettles OBE
to this event. Durin8 the event John a150 awarded Jenny Pymont with Honorary Membership of The
Academy for her long service to the organisation a5 a Trustee and for her work leading a major part of
The Academy's social media. John presented Jenny with her new Honorary Membership Lanyard. The
Academy provided a free buffet for all Academicians and friends which was enjoyed by all attendin8,
It was a very well attended and positive social event which we plan to repeat into the future.
John later spoke at The THG Private View and opened our exhibition. There was an exceptionally large
audience at the event fi'lling the gallery spaces. The exhibition ran successfully f rom Saturday 23 March
to 11 April. We were pleased that Councillor Nic Hookway, PortFolio Holder for Culture East Oevon,
who has previously attended The SWAC Open Exhibib'ons. was also able to attend.
We thank Vin Jelly, Phil Creek. Luke Shepherd, and Nic George SWAC Education Consultant, for
providing education workshops for primary and secondary schools, the community, and Honiton
Memory Cafe at THG which are being kindly sponsored this year by The Phoebe Wortley-Talbot Trust,
The Honiton Community College workshop focussed on Dartmoor as a theme.
The Brownston Gallery SWAC Spring Exhibition took place again during March and April with a selection
of members chosen by Catherine Gillen, Director of The Brownston who was soon to announce that
she was leavingthe gallery in 2024. Although only a few memberstake part each year, this opportunity
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SWAC
The Souih West
Academy
continues to be very worthwhile for Academicians and for some this is the beginning of a lengthy
involvement, for the first time, with a commercial gallery.
April.
April also sees the planning for Delamore in full swing including the set up and delivery of the SWAC
exhibition boards and the collection of work for the Oelamore illustrated catalogue. We again thank
Trustee Simon Butler for his work collating and designlng the catalogue whlch is free to members.
Mav.
Duringthe entirety of May SWAC dedlcates It's ttme to Delamore and The SWAC Exhibition in The Stable
Gallery. As in previous years finding coverage for two or more stewards from the membership to be
present every day during May was a challenge and, on some occasions, we failed to reach our desired
numbers. On one occaslon we had no stewards and Delamore had to steward on our behalf. Sales at
Delamore were good again in 2024 and the exhiblt6on was very well attended.
th
The Drecki Lecture was held at the Royal Albert Memorial Museum in Exeter on 7 May commencing
at 18.'00 with ticket prices at £15. The lecturer was by our very own lon8 5tandin8 and honorary
member John Hurford along with Dr Ivan Tacey. This was an outstanding talk which was very well
attended by members of the public and some SWAC members.
June.
During June. the website was updated wlth all new members being added, plus the Trustees. At thls
point in time The Academy had 10 Trustees
Andrew 8aker, Simon Butler, Gill Burbidge, Alan Cotton, Phil Creek, Robert Dudley, David Norman,
Jenny Pymont, Geoff Shillito, Alison Summerfield,
Julv.
The OESS System was open for submlsslons during July $0 the public and members could upload their
work for The SWAC Open Exhibition. We were pleased to welcome four new members who have
recently joined SWAC, these were Marla Bower5, Caroline Flage, Simon Gray, and Cathryn Nettles. We
welcomed all our new members to The Academy.
August.
We were able to confirm both the London Exhibition at The RWA Gallery and The Dartmoor
exhibition at Neadon Barn in 2025. These exhibition plans were shared with members at this point
so that ample preparation time was provlded. We are grateful for the financlal support ofThe
Phoebe Wortley-Talbot Trust.
September
At this point Vicky was increasingly updating the website as she gradually took over control. of most
aspects, from Tom Flynn who previously managed the site.
October
The summer and early autumn are spent setting up the OESS system and planning and advertising our
usual Open Exhibition at Kennaway House, Sidmouth.
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SWAC
The Soutli West
Academy
The Selection Committee for the Open Exhibition was held on-line and Sater in person where work
from the public was selected. The entry numbers were very similar to previous years and the OESS
System was updated, and successful entrants were notified by logging into the system. The exhibition
boards were colletted and delivered to Kennaway from their base in Silverton and public and member
delivery took place. The Academy always strives to have more non-member pieces in the exhibition
and fewer from Academicians. Academicians continue to have two free entries each as part of thelr
membership agreement.
November.
th
th
The Open Exhibition took place on 29 October and was open un￿1 9 November. The exhibition was
very well received again but for the first time the exhibition was being held on a single floor. It made
the exhibition more closely hung but reduced the workload.. The new lay'out was well received by
artists and the public. We had an excellent PV which was well attended with very positive comments.
The Chair of Sidmouth Town Council was very pleased to have such a prestigious exhibition in the town
and encouraged SWAC to apply for sponsorship in 2025.
The Trustees decided to offer an award to a member for the first tlme this year and we were delighted
that John Nettles awarded the very first President's Award, for an Academician, to Tony Williams
RSMA.
During November we held the selettion for new members at Kennaway to coincide with our Open
Exhibition,
December.
During December we again avoided runnin8 mernber events although the administratton Con￿nueS to
be busy following the sales and organlsation of The Open. After selection in November the following
new members became Academlclans, Dawn Jordan, Alice Hole, and Roy Meldrum. We welcome our
new members to The Academy and look forward to exhibiting with them during the year.
January.
January saw The Trustees decide to end the rolling programme used to Chair the Academy and Phil
th
Creek agree to step up as Chair to steer the organisation through its 25 Anniversary year to
commence in January 2025. Thls was Phil's fourth term as Chair, and he agreed to coordinate with
Vicky to make sure the exhibitions are well planned. We have Simon Butler to thank for arranglng the
fundln8 for these exhlbitfons from The Phoebe Wortley-Talbot Trust.
Until a replacement can be found, Phil will also continue as Hon Treasurer.
It was decided to delay The SWAC AGM until April and, ratherthan running a remote (Zoom) meeting,
to hold a physical meeting in Exeter.
We heard in January that we secured funding from Sidmouth Town council to develop an education
project under the stewardship of Nic George our Education Consultant.
Februarv.
It was decided that the theme for The SWAC education project was to link to The Sidmouth Donkey
Sanctuary with Education Consultant Nic George working in several Sidmouth and other local schools.
The Trustees were pleased to appoint Alison Summerlield to the post of Vice Chair of The Academy.
Page 3

March.
Due to the popularity of SWAC membership there was a further selection panel for new members held
in March.
It was a150 confirmed that this year's speaker for Drecki Lerture would be sculptor Luke Shepherd, and
th
it would be held on Tuesday 13 May at The Royal Albert Memorial Museum and Art Gallery IRAMMI,
Queens Street, Exeter. RAMM would advertise the event again using their own website.
Phil Creek.
0111212025.
Trustee and Chalr.
The South West Academy of Fine and Applled Arts.
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SWAC
SOUTH WEST
ACADEMY
Strurture, Governance and Management
Governing Document
The charity is a company limited by 8uarantee (number 042433611 and was incorporated
on 29 June 2001. It was registered wlth the Charity Commission
th
(registration number 10873501 on 4 July 2001. The company was established under a
Memorandum of Association which describes the objects and powers of the charitable
company, and it is governed under its Articles of Association. Individuals, who must be
members of the company, are usually elected to the Board of Trustees (the Council) by
the company sitting in general meeting. Alternatively, they may be appointed bv
members of the Council provided two thirds of the members of the Council support their
appointment. One third of their number retires by rotation each year and are eligible for
re-election. In furtherance of our charitable objects (see below), it Is the company's policy
that the Councll is responsible for settlng the overall strategy and pollcles of the
organisation, and all matters pertaining to general admlnlstration.
Charitable Objects and strategy
SWAC charitable objects as defined by the Memorandum and Articles of Associatlon can
be found on the Charity Commission webslte.
How Our Actlvities Deliver Publlc Beneflt
The Board of TrustÈes have complied with their duty under Section 17151 of the Charitie5
Act 2011 to have due regard to the guidance on public benefit published by the Charity
Commisslon In exercising their powers and dutie5. The trustees are satlsfled that the
alms. objectives and activltles of the charity meet with the terms of this guidance.
Reference and adminlstrative detalls
Charity number:
1087350
Company number..
04243361
Registered Office:
Kennaway House, Coburg Road, Sidmouth. Devon EXIO 8NG
Our advisers
Independent Examiner..
Bankers: HSBC plc
Lee Bingham 72 Beacon Lane, Exeter, Devon EX4 8LW
250 High Street, Exeter, Devon. EX4 3PZ
Directors and trustees
The directors of the charitable company Ithe charity) are its trustees for the purpose of
charity law. The trustees and officers serving during the year and since the year end were as
follows..
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SWAC
SOUTH WEST
ACADEMY
Key management personnel SWAC: Trustees, and Dlrectors
Elected trustees:
S M Butler
P Creek
A Baker
J Pymont
A Summerfield
G Shillito
D Norman
A Cotton
P Dudley
G Burbid8e
M Bowers lappolnted Ilth June 20251
Secretary
Vjohns
Financial Revlew & Reserves Policy
Reserves pollcy
The reserves policy specifies that SWAC should have sufficient funds available to cover any
outstandin8 liabilities.
The charitls free reserves, as disclosed on the balance sheet, were £38,030 at 31st March 2025
and had no outstandin8 liabilities.
Investment pollcy
Surplus funds are held in a HSBC higher-interest charity account 5peciflcally designed to
maximise returns. and will be reviewed durin8 2025126.
Rlsk Management
The trustees have also conducted their own review of the major risks to which the charity is
exposed, and 5VStems have been established to minimise these risks. A risk mana8ement
revlew wlll be conducted on an annual basis.
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SWAC
SOUTH WEST
ACADEMY
Trustees, and examiners respective responsibilities
The charity trustees {who are also the directors of the SWAC for the purposes of
company law) are responsible for preparation of the accounts. The charity's trustees
consider that an audit is not required for this year under section 144 of the Charities Act
2011 (the Charities Act) and that an independent exarnination is needed.
It is my responsibility to..
examine the accounts undersection 145 of the Charities Act,
to follow the procedures laid down in the general directions given by the
charity Commission {under section 145(5)Ib) of the Charities Act). and
to state whelher particular matters have come to my attention.
Ba8ls of Independent examlner's statement
My examination was carried out in accordance with general direclions given by the
Charity Commission. An examination includes the review of the accounting records kept
by the charity and a comparison of the accounts presented with those records. It includes
consideration of any unusual items or disclosures in the accounts, and seeking
explan8tions from the trust88s concerning any such matters. The procedures undertaken
do not provide all the evidence that would be required for an audit, and consequently no
opinion is given as to whether the accounts present a 'true and fairf view and the report is
limited to those matters set out in the statement below.
Independenl examiner's statement
In connection with my examination. no material matter has come to my attention which
gives reasonable cause to believe that in, any material respect.
the accounting records were not kept in accordance with sertion 130 of the Charities
Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply wlth the applicable requlrements concernln8 the form
and content of accounts set out in the Charitles (Accounts and Reports) Regulations
21)J8 other than any requirement that the accounts give a 'true and fair, view which
15 not a matter considered as part of an independent examination.
December 2025
Lee Bingham
ACCA Part Qualified
Beacon House, 72 Beacon Lane, Beacon Heath Exeter EX4 8LW
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SWAC
SOUTH WEST
ACADEMY
Statement of Financial Activities
for year ending 31 March 2025
Unrestricted Restricted Total Funds Total Funds
Funds
Funds
2025
2024
Note
Income:
Donations and legacles
6,048
6.048
2,264
Charitable Activities
27.722
27,722
51,981
Other trading income
12,273
12,273
9,318
Investment income
639
639
340
Total Income
46,682
46,682
63,903
Expendlture
Expenditure on charltable activities:
Charitable expenditure
35,699
11,286
46,985
38,178
Other
418
418
442
Total expenditure
36,117
11,286
47,403
38,620
Net In¢ome/lexpendlture) and net
movement In funds for the year
10,565 . 111,2861
1721)
25,283
Reconciliation of funds
Total Funds brought forward
27.465
25,000
52,465
27,182
Total funds carried forward
38,030
13,714
51,744
52,465
The statement of financial activities includes all gains and losses recognised in the year. All income
and expenditure derive from continuing activities.
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SWAC
SOUTH WEST
ACADEMY
Balance Sheet-as at 31st March 2025
Note
2025
2024
Flxed assets
Tangible assets
Total Fixed Assets
Current assets
Debtors
Cash at bank and in hand
Total Current Assets
4,733
47,982
S2,715
51,994
51,994
Llabilltle5
Creditors falling due wlthln one year
{2501
12501
Net Current assets
51,744
52,465
Net assets
51,744
52,465
The funds of the charity:
Restricted funds
Unrestricted funds
13
13,714
38,030
25,000
27,465
Total charity funds
51,744
52,465
For the financial year in question the cornpany was entitled to exemption under section 477
of the Companies Act 2006 relating to small companie5. No member5 have required the
company to obtain an audit of its account5 for the year in question in accordance with sectlon
476 of the Companie5 Act 2006. The directors acknowledge their responsibility for complying
with the requirements of the Act with respect to accounting records and the preparation of
accounts. These accounts have been prepared In accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved on 1st December 2025 and signed on behalf of the board
by..
Phil Creek
Trustee
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SWAC
SOUTH WEST
ACADEMY
Notes on the accounts
Accounting Policies
The principal accounting policies adopted. judgements and key sources of
estimation uncertainty in the preparation of the financial statements are as follows:
al 8asls 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
appllcable In the UK and Republlc of Ireland IFRS 102) (effective l January 20151-
Icharltles SORP {FRS 10211, the Financial Reportin8 Standard applicable In the UK
and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value
unle55 Otherwise stated in the relevant accounting policy notelsl.
bl Reconciliation with previous Generally Accepted Accountin8 Practice
In preparin8 the accounts, the trustees have considered whether in applyin8 the
accounting policies required by FRS 102 and the Charities SORP FRS 102 the
restatement of comparative items was required.
No restatements were required. In accordance with the requirements of FRS 102
reconclllatlon of opening balances Is provided.
al Preparatlon of the account5 On a going concern ba515
The trustee5 are of the view that the immediate future of the Trustfor the next 12
to 18 months and that on this basis the charity is a going concern.
b) Income
Income Is recognised when the charity has entltlement to the funds, any
performance conditions attached to the itemlsl of income have been met, it IS
probable that the income will be received and the amount can be measured reliably.;
cl Donated services and facilities
Donated professional servlces and donated facllltles are reco8nised as Income when
the charity has control over the item. any conditions a550ciated with the donated
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SWAC
SOUTH WEST
ACADEMY
item 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 IFRS 1021, the general volunteer time of the
Friends is not recognised and refer to the trustees, annual report for more
information about their contribution.
On receipt. donated professional servlces and donated f3cilitles are recognised on
the basis of the value of the gift to the charity which is the amount the charity
would have been willin8 to pay to obtain services or facilities of equivalent
economlc benefit on the open market; a corresponding amount is then recognised
In expendlture in the period of recelpt.
dl Interest receivable
Interest on funds held on deposlt15 Included when receivable and the amount can
be measured reliably by the charity; this is normally upon notlf Scation of the
interest paid or payable by the Bank.
el Fund accounting
Unrestricted funds are available to spend on activitles that further any of the
purposes of charity.
fl Expendlture and irrecoverable VAT
ExpendSture15 reco8nlsed once there is a le8al or con5tructlve obllgation to make a
payment to a third party, it is probable that settlement wlll be required and the
amount of the obligation can be measured reliably.
gl Tanglble fixed assets
Individual f ixed assets costing £500 or more are capitalised at cost and are
depreciated over their estimated useful economlc lives on a straight line basis as
follow5..
Asset Cate80ry
Equipment
Annual rate
20%
h) Debtors
Trade and other debtors are reco8nlsed at the settlement amount due after any
trade discount offered. Prepayments are valued at the amount prepaid net of any
trade discounts due.
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SWAC
SOUTH WEST
ACADEMY
il 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 deposlt or similar account,
j) 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 f unds 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.
k) Financlal Instruments
The Academy only has financlal assets and flnancial 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.
Legal status of the Academy
The Academy Is a company limited by guarantee and ha5 no Share capital. In the event
of the charity being wound up, the liability in respect of the guarantee Is Ilmlted to a
maximum of £10 per member of the charity.
Income from Donations & Legacies
2025
2024
Donations & Gift Aid
6,048
6,048
2.264
2,264
SWAC beneflts greatlyfrom the involvement and enthusiastic support of its many
volunteers, details of which are given in our annual report. In accordance with FRS 102
and the Charitie5 SORP IFRS 1021, the economic contribution of general volunteers is
not reco8nlsed In the accounts.
Income from charitable artivitie5
Restricted Unrestricted
2025
2024
Grants
Exhibition income
Total income from
charitable activities
25,000
26,891
27.722
27.722
27,722
27,722
51,891
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SWAC
SOUTH WEST
ACADEMY
Analysis of expendlture on charitable activities
2025
2024
Charitable activities
Artists, and exhibition fees
Administration costs
Office expenses
Bank charges
Total
23,277
14.184
8.975
549
46,985
20,265
12,741
5,072
loo
38,178
2025
2024
Other
Independent examiner's fees
418
442
Corporatlon Taxation
The charityls exempt from tax on Income and gains fallln8 Wlthin section 505 of
the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to
the extent that these are applied to its charitable objects.
Tangible fixed assets
Total
Cost:
As at l April 2024
Additons
As at 31 March 2025
553
553
Depreciation..
As at l April 2024
Charge for the year
As at 31 March 2025
553
553
Net book value
As at 1st April 2024
As at 315t March 2025
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SWAC
SOUTH WEST
ACADEMY
Debtors
2025
2024
Prepayments & Accrued Income
4,733
Credltors: amounts falling due wlthln one year
2025
2024
Other creditors & accruals
250
250
io
Post-balance sheet events
The Trustees have confirmed that there are no post balance sheet events.
li
Related partles
There have been no related party transactions in the period requiring disclosure
12
Controlllng entlty
The charity is controlled by the trustees who are all dlrectors of the company
13
Analysis of movements In funds
1st Aprll 2024
Income
Expendlture
31st March 2025
Restricted Funds
Dartmoor Trust
25,000
11,286
13,714
Unrestrlcted Funds
General fund
27,465
46,682
36,117
38,030
Total Funds
52,465
46,682
47,403
51,744
Purposes of restricted funds
Oartmoor Trust
Phoebe Wortley-Talbot Project- London Exhibition
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The South West Academy of Flne & Applled Arts
Statement of Flnancial Activities year ended 31st March 2025
Income
Event Income
Grants
Donations & Gift Ald
SWAC Membership Fees
Other Income
2025
27,722
2024
26,981
25,000
2,264
9,318
6.048
12,273
46.043
63,563
Other Income
Bank Interest Received
639
339
Total Income
46,682
63,903
Expenses
Artists Payments
Exhibition Costs
Adminlstrator Costs
Office Expenses
Accountant
Bank Charges
Total Expendlture
14,858
8,419
14,184
8,975
418
549
47,403
13,304
6,961
12,741
5,072
442
99
38,620
Net 5urplus/lDeficitl
(7ZI)
25,283