REGISTERED COMPANY NUMBER: 05115045 (England and Wales)
REGIsfERED CHARITY NUMBER: 1104301
projectart works
(A Company Limited by Guarantee)
Group Report of the Trustees and
Consolidated Audited Financial Statements for the Year Ended 31 Marth 2025
MICHELLE ROBERTS: RED, BLUE, UP
Image.. Red Blue Up'michelle Roberts exhibition, De La Warr Pavilion in collaboratson
with Outsideln andPmjettArt WoH(s
Deek5 Evan5 Audit Se￿1￿5 Limited
Ststutory Auditor
First Floor, West Bam
North Frith Fami, Ashes Lane, Hadlow
Tonbridge
Kent
TNII 9QU

Project Art Works
Contents of the Consolidated Finanaal Statements
for the Year Ended 31 March 2025
Page
Report of the Trustees
I to 5
Report of the Independent Audltors
6 to 8
Consolidated Statement of Financial Activities
Consolidated Balance Sheet
io
Company Balance Sheet
li
Consolidated Cash How Slatement
12
Notes to the Consolldated Finanaal Statements
13 to 24
Detslled Statement of Financial Actlvltles
25 to 26

Project Art Works
Report of the Trustees
for the Year Ended 31 March 2025
Charitable Activities
Project Art Works is an independent charity and visual arts organisation that collaborates with people who have complex
support needs, families, caregivers, and people workn'ng in culture and care.
Our vislon is a society that places value on the capabilities of people with complex needs, families and support workers,
and invests in stsble and sustainable support and care so they can realise their potential. We believe that art can, through
both its process and its final form, reflect and articulate ideas that trans￿nd difference and reach people.
Our mission is to change lives through art by exploring potential and promoting works by neurodivergent artists and
makers through a wide range of projects, partnerships and exhibitions. Our programmes evolve through personalised,
supported studio practice and radiate out to awareness raising, long-term collaborations, and skills development with social
care and cultural partners.
Our work aspires to ex￿llenCe in contemFK)rary visual art and is uniquely positioned to bridge the social care and cultural
sectors in ways that promote sustainable relationships and bring people with complex needs into the heart of civic and
cultural life.
Our programmes and projects evolve through creative practice and radiate out to awareness raising in the cultural
and care sectors - promoting more diverse representation of neurodiverse artists and maker5, and those who care for
them.
PROGRAMMES
Art Freedom Care: Specialist arts provision for 48 leaming disabled andlor autistic artists. During 24125 we provided
336 creative sessions in our studios in Hastings, Tuesday-Friday, for 40 weeks of the year. Each session is tailored to each
person's needs and interests through a personalised approach that facilitates choice and expansive creative practice.
Artists have ac￿$$ to a wide range of media and creats've processes including painting, drawing, printmaking, collage,
sculpture, animation and photography.
Club Build: A responsive programme, centred around community-based, supported studio sessions for autistic and or
leaming disabled people who present behaviours of distress. We held 53 creative sessions and provided other support
through meets'ngs with parentlcarers and circles of support.
Art Breaks: In 24125, 297 places for children and young people with SEND between 5-18yrs old we offered through 67
creative workshops held on Saturdays and school holidays.
The Support Collectlve: In 24125, families and carers met across 48 sessions that covered free specialist training, peer
support, PATH personalised a5pirational planning sessions, and creative workshops. In addition weekly, individually tailored
sessions of one to one advocacy and SUPF¥)rt for families experiencing periods of crises in their interaction with se[Vi￿$.
Explorers: A collaborative national programme of art and action that opened up routes into artistic practice for
neurominorities, aiming to dismantling attitudinal and 5yStemic barriers to representation and rights in art and society.
ProjeLt Art Works collaborated with eight partners across England, creating pla￿OrMS for neurodivergent artists t() show
their work and represent themselves in cultural SPa￿S. We worked with cultural organisations to dee￿n their
understsnding of neurodiversity, and we Commi￿lOned writing and other forms of communicab'on to help change the
discourse of how neurodivergent artists are tK)sib'oned and described in culture.
Bethlem Gallery and National Autism Unit (NAU): Project Art Works collabotated with the projett partners at South
London and Maudsley Hospital (SLAM) in Croydon, over a five-week residency in the NAU, to explore sensory and
participatory art practi￿5. The aim was to inform the SLAM art strategy and potential art Commi￿10n5 for a proposed new
NAU. The work focussed on accessibility, creativity and inclusion within neurodiverse Spa￿5, and the potential for further
more involved programmes of work with aub'stic inpatients. Through d(Kumenting, refletting on and learning from the
ideas of those who engaged with a temporary studio Spa￿, the project explored how slte-respon5ive art can play a key
role in enhancing and 'humanising' the clinical environment.
Tate Modem Collaboration: Project Art Work5 was commissioned by Tate Modern to create workshops that responded
to their major exhibits'on Expre55ionist5: Kandinsky, Munter and The Blue Rider. We set-up an environrnental installations
at our studio base in Hastings, using colour fields of blue, white and black, projections of paintings and works by artists
intended to stimulate imagination and connection to the works of Der Blaue Reiter. Documentats'on of the prO￿sS including
works produced and photcgraphy were published a5 part of the companion booklet Dialogues: Expres5ioni5ts available in
the Tate Modern.
Page I

Project Art Works
Report of the Trustees
for the Year Ended 31 March 2025
RESIDENTIAL exhibition and publication..
Baltic Centre of Contemporary Art, Gateshead and Copenhagen Contemporary
Project Art Works has an archive of over five thousand physical works accumulated over 25 years, that embody a visible
trace of people who are often hidden in the world. These were presented at Baltic in a Project Art Works artists group
exhibition of large-scale paintings over 5 months. Presented alongside a new film, I've Got Ideas, Don't You Wory, that
sat within the exhibits'on revealing the subtle and expansive nature of speaking and non-speaking creativity and
communication. The exhibition included a programme of workshops for local people, families and caregivers, including a
studio installats.on next to the main space that hosted a series of workshops and events that brought partners and
collaborators, audien￿5 and 3rt15ts together in creative production. Residential then toured to Copenhagen Contemporary,
which was o￿n for 10 fflonths.
Kaleidoscopic Realms
Nottingham Castle Museum & Art Gallery presented an installation of artworks and film by eight contemporary artists
including Project Art Works artists Michelle Roberts and Siddharth Gadiyar, revealing a colourful insight into intuitive mark-
marking in its many forms.
Red Blue Up, Michelle RoL￿rtS
Michelle Roberts has been a siudio artlst with Project Art Works for more than 15 years, and her solo exhibition at the De
La Warr Pavilion was programmed in collaboration with Outside In, following the artist winning first prize at Outside In's
national open exhibits'on, Humanity in 2023.
Corporate Partnerships
We continue to partner with Premier Inn who feature reproduction5 of athorks by several Project Art Works art15ts in
their hotel rooms across the UK and Germany.
Capital Development: Securing funding from Arts Council England, Levelling Upi Hastings Ski115 Capital Fund and various
trust5 and foundations, Project Art Works entered an ambitious penod of capitsl development across t￿0 neighbouring
sites:
Arch 3.. demolition and new build of I￿0 studios, replacing the outdated inaccessible building with new faalities that include
sustainable heating, a Changing Place facility, Imo new light filled and accessible studios and a lift.
Arch 2: high quality rcconpJtruction of a condemned wall to retum the building into safe use.
Trinty Hall.. sustsinable heating, upgrading existing brokcn window5 and doors, construction of accessible level access
and installats'on of a 5ens0ry garden and extemal workshop space. This pha* of the capitsl work is scheduled for
completion in summer 2025.
Diversifying income: The online gallery and shop Untitled Gallery has been enhan￿d to improve user experience and
drive an increase in sales. We have secured funding to develop a new role focused on income generation and high net
worth patrons. The trading arm has been estsblished.
PEOPLE
Our collertive: You can find out about all of the people who form our organisation here..
https:Ilprojectsrtworks.orglthe-organisation/collectivel
Senior Management Team
Kate Adams MBE 15 an artist, advocate and activist. She is CEO of Projett Art Works and has curated many responsive,
collaborative projects with neurominorities, families, care services, artists and galleries. Kate co-founded Project Art Works
in 1997 to explore an expanded cOn￿pt of art that was and continues to be influenced by Paul Colley, her son, who has
complex support needs and who regularly participates in our creative programmes in Hastings.
Tim Corrigan is an artist filmmaker and Creative Dirertor at Projett Art Work5. He has extensive experien￿ of video
production, both as a cameraman and editor and leads on Projert Art Works. ffloving image productions. In collaboration
with the creative team, Tim leads on workshops and the installation of bespoke environments for t￿rSonalIsed creats've
facilitstion of a wide range of neurodivergent communities, having collaborated with Projett Art Works Sin￿ rts early years.
Helen Charlton, Development Directori joined Projett Art Works in 2019 and leads on fundraising, funder relationships,
and projett development.
Wendy Routley, Head of Finan￿ & Operation5, joined Project Art Works in 2003 and works dosely with the team on
financial and operational planning.
Page 2

Project Art Works
Report of the Trustees
for the Year Ended 31 March 2025
Representation of neumdiveryent people and careglvers on our Board: We have explored different approaches
to increasing representation at board level. The nomiative environment of a board meetings, and the legal requirements
associated with acting as a trustee, are not accessible to many of the people we work with, many of whom do not have
voice or cognitive privilege so we have a group of neurodivergent advisers to the board that provide critical insight from
lived experience.
Supported volunteerlng.. Responding to requests from neurodivergent artists who are part of our regular studio, we
introduced informal opportunities for supported volunteering across our organisation. They are now involved in supporting
facilitators working with children and young people on Art Breaks, representing the organisation at awarenes5 raising
events and training sessions with other cultural institutions, advising the board, and leading tour5 of our studio when we
have visitors.
Governance: Three new Trustees were appointed during this year with two resignations. The board consists of 8
trustees and 2 neurodiverse artistladvocates. The Board provides guidance, expertise and support to the organisation. A
skills audit has been LJndertaken to enable the organisation to recognise the strengths of existing board members and
identify gaps in expertise that are needed to support strategic objectives and organisational development
Financial Review
Project Art Works continues to develop and renew relationships with a wide range of Trusts and Foundations and Ststutory
funders. The financial climate continues to be challenging with increased costs and inflationary pressure. Whilst remaining
suc￿Ssful in securing funds for our ongoing programme and core costs, we remain mindful of the challenges ahead. The
Suc￿sS rate of new applications has dropped over the past few months, with funders reporting an increase in applications
and pressure on limited resources. Many funders are reviewing their funding criteria in response to societal challenges and
reducing the number and funding level of grants awarded.
Development of our trading arm, roles and securing patrons will support the ongoing financial challenges.
The capital programme remains in budget.
Reserves policy
The Trustees annually consider the reserves policy and the risks facing the organisation. We aim to achieve 3 months
rese￿eS and contingent costs within the next five years. Ideally, rese￿e5 should be further developed to cover costs for
a 6-month period thereby providing Jrome protertion for the organiJeation through fallow pcriod.. ReJCry￿a incomc 15
gcncratcd through sales, commis5ion5, licencing and Art on Loan.
ReseNes were identified for two distintt areas:
l. Building the Trustees conside￿d potential risks not covered by insurance or planned expenditure.
II. Operational - the Trustees considered that reserves should be built up to cover potential risks as follows..
a. 3 months operational costs
b. redundancy costs, contingency for outstanding liabilities, and professional costs
c. contingency for fluttuations in funding cycles.
At the end of 24-25 financial year reserves increased to £115,205 against an initial target of £210,000. In 2024-25 we
missed our annual target to build reserves by £3,415. Our annual target to build reserves to this level is £23,743 per
annum over the stated period of five years.
Fuifilment of Public Benefit Requirements of The Charities Act 2022
Proiett Art Works is a unique visual art organisation that creates opportunits-e5 Wlth and for children, young people and
adults who have complex needs to engage with the world and express themselves through art. Projert Art Works is based
in Hastings, East Sussex and runs a range of projects, programmes and exhibitions that have a national reach.
STRATEGIC REPORT
srRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by
guarantee, as defined by the Companies Act 2006.
Trustees
New trustee5 are appointed on the nomination of the Tru5tee5 made in the light of the Charity's needs and following an
interyiew. Their induction includes meeting office stsff, being briefed on procedures, and addressing any training needs
they may have.
Page 3

Project Art Works
Report of the Trustees
for the Year Ended 31 March 2025
Management
The day to day management has been delegated to K Adams. The trustees held four board meetings during the year
which were also attended by key personnel.
Major risks have been have been reviewed and systems and procedures have been established to manage the risks.
Risk management
The trustees have a duty to identfy and ￿VIeW the risks to which the charity is exposed and to ensure appropriate controls
are in pla￿ to pmvide reasonable assuran￿ against fraud and error.
The major risks have been ￿VieWed and systems and pr￿edureS have been established to manage those risks.
Throughout the course of the year, Trustees were kept appraised by senior rnanagement of potential external threats and
opportunities to the organisation.
REFERENCE AND ADMINIsfRATIVE DETAILS
Registered Company number
05115045 (England and Wales)
Registered Charity number
1104301
Registered OlTice
Arch 3
Braybrook TerTr
Hastings
East Sussex
TN34 ITD
Trustees
C Whistler
J N Cannell
Ewbank
S E Young
M.E L Sexton
GLPugh
V H Hooper
K J Balukiewicz (appointed 27.1.25)
Company Secretary
W Routley
Auditors
Deeks Evans Audit SeNices Limited
Statutory Auditor
First Fl(K)r, West Barn
North Frith Farm, Ashes Lane, Hadlow
Tonbridge
Kent
TNII 9QU
Page 4

Project Art Works
Report of the Trustees
for the Year Ended 31 March 2025
TRusfEES' RESPONSIBILrrY srATEMENT
The trustees (who are also the directors of Project Art Works for the purposes of company law) are responsible for
preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland
Company law requires the trustees to prepare finanaal statements for each financial year which 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 charitsble company for that period. In preparing those financial ststements, the trustees
are required to
selert suitable accounting policies and then apply them con51Stently;
observe the methods and principles in the Charity SORP-
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the charitable
company will continue in business.
The tru5tee5 are responsible for keeping proper accounts'ng records which disclose with reasonable accuracy at any time
the financial position of the charitable company and to enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for
tskn'ng reasonable steps for the prevention and detection of fraud and other irregularitie5.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDrroRS
We, the trustees of the charitable company who held office at the date of approval of these Financial Ststements, as set
out at￿Ve, each confirm that as far as we aware, that:
there is no relevant audit information of which the charitable company's auditors are not aware; and
we have tsken all the step5 that we ought to have taken as trustees in order to make ourselve5 aware of any relevant
audit information and to establish that the charitable company's auditors are aware of that information.
AUDrroRS
The auditors, Deek5 Evans Audit servI￿s Limited, will be proposed for re-appointment at the forthcoming Annual General
Meeting.
Report of the tnjstees, incorporating a strategic report, approved by order of the board of trustee5, as the company
directors, on 6 November 2025 and signed on the board's behalf by..
Trust
Page 5

Report of the Independent Auditors to the Members of
Project Art Works
Opinion
We have audited the financial statements of Project Art Works (the'charitable company,) for the year ended 31 March 2024
which comprise the Ststement of Financial Activits'e5, the Balance Sheet, the Cash Flow Ststement and notes to the financial
ststements, including a summary of significant accounting policies. The finanaal reporting framework that has been applied
in their preparation is applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted
Accounting Practice), including Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK
and Republic of Ireland,.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming
resources and applicatr.on of resour￿5, including its income and expenditure, for the year then ended;
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practi￿, including
FirTrancial Reporting 5tsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland and
have been prepared in accordance with the requirements of the Companies Att 2006.
Basis for opinion
We condutted our audit in accordance with International Standards on Audrting (UK) (ISAS (UK)) and applicable law. Our
responsibilits'es under those standards are further described in the Auditors. responsibilities for the audit of the financial
ststements 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 reswnsibilities 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 trustee5' Use of the going con￿rn basis of accounting in
the preparation of the financial ststements is appropriate.
Based on the work we have performed, we have not identified any material un￿rtaIntieS relating to events or conditions
that, individually or collettivelyi may cast significant doubt on the charitable company's ability to continue as a going
con￿rn for a period of at least t￿e1ve months from when the financial statements a￿ authorised for issue.
Our responsibilities and the responsibilities of the trustees with respert to going concern are described in the relevant
sections of this report.
Other inforniation
The trustees are responsible for the other information. The other information comprises the information included in the
Annual Report, other than the financial statements and our Report of the Independent Audrtors thereon.
Our opinion on the financial statements does not cover the other informats'on and, except to the extent otherwise explicitly
stated in our report, we do not express any form of assuran￿ conclLrsion thereon.
In connection with our audit of the financial rtatomonts, our re.ponJibility IJ to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial Statements or our knowledge
obtained in the audit or otherwise appears to be materially misststed. If we identify such material inconsistencies or
apparent material misststements, we are required t() determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Report of the Trustees for the financial year for which the financial Statements are prepared
is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordan￿ with applicable legal requirements.
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 obtsined in the course of
the audit, we have not identified material misststements in the Report of the Trustees.
Page 6

Report of the Independent Auditors to the Members of
Project Art Works
We have nothing to report in respett of the following matters where the Companies Act 2006 requires us to reFK)rt to you
if, in our opinion:
adequate accounting records have not been kept or returns adequate for our audit have not been received from
branches not visited by us. or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we requi￿ for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Statement, the trustees (who are also the directors of the charitsble
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 prepaTrtion of financial statements that are free from matenal misststement, whether due to fraud or error.
In preparing the financial ststements, 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 concem basis of
accounting unless the trustees either intend to liqui(Jate the charitable company or to cease operations, or have no ￿alistiC
alternative but to do so.
Our responsibilities for the audit of the financial ststements
Our objectives are to obtain reasonable assurance about whether the financial 5tstementS 35 a whole are free from material
misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion.
Reasonable assuran￿ is a high level of a55urance, 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 matertal if, individually or in the aggregate, they could reasonably be experted to Influen￿ the economic
decisions of users tsken on the basis of these financial statements.
The extent to Ih our prcKedures are capable of detecting Irregularities, IIing fraud Is detailed below..
Audit procedures carried out to detect irregularities including fraud were as follows..
A risk assessment in respect of the detection of irregularities including fraud addressed income, expenditure
and
management override in particular.
A sample of grant applicats'ons made were substantively tested and vouched to award letters and funds
received or to rejection correspondence.
A sample of expenses were substanb'vely tested by being vouched to supporting paperwork. Where
applicable the expenses were checked to ensure that they were valid in terms of the grant conditions
associated with the funding re￿Ived. For large and unusual expenses the rationale of the transactions were
evaluated.
Journal entries made were reviewed and were found to be substantially transfers ￿￿een projects and core
costs. A sample ot such journals were tested to confirm the transfers were bona fide. for large and unusual
Journals the ratlonale of the transactions were evaluated.
An assessment of how fraud might occur. Income 15 substantially received by dI￿rt payment into the bank
account. Petty cash transactions are trivial. Authorisation for expenses is geared to the value of
transactions. There is a hierarchy of who can sign for increasing amounts with duplicate authorisation
required for high value transactions. Control accounts are maintained and reconciled monthly for debtors,
cash at bank and in hand and creditors. Fixed as5et5 registers are reviewed and checked. ObseNation and
enquiry during the course of the audit confirmed the assessment.
An assessment of judgements and estimates. No judgements have been incorporated in the accounts. The
only estimates are for depreciation which is considered low risk.
Rl assessment of the audit teams competence and capability to identify or recognise non-compliance with
laws arld regulations
Enquiry of management and those charged with govemance in respect of actual and potential litigation and
claims.
Because of the inherent limitstions 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 regulations. This risk increases the
more that compliance with the law or regulation is removed from the events and transaction5 reflected in the financial
statements, as we will be less likely to become aware of the instan￿$ of non-complian￿.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent
Auditors.
Page 7

Report of the Independent Auditors to the Members of
Projert Art Works
Use of our report
This report is made solely to the charitable company's members, as a body, in accordan￿ wlth Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable companvs members
those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent
permitted by law, V￿ do not accept or assume responsibility to anyone other than the charitsble company and the
charitable companvs members as a LM)dy, for our audit work, ft?r thi5 reporL or for the opinions we have foffl￿d.
Richard Young (Senior Statutory Auditor)
for and on behalf of Deeks Evans Audit Services Limited
Statutory Auditor
Flrst H￿r, West Barn
North Frith Farm, Ashes IAne, Hadlow
Tonbridge
Kent
TNII 9QU
6 November 2025
dge8

Project Art Works
Consolidated
Statement of Financial Activitles
for the Year Ended 31 March 2025
2025
Totsl
funds
2024
Totsl
funds
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
373,049
1,791,954
2,165,003
960,930
Other trading attivities
Investment income
95,696
41,828
137,524
187,809
Total
490 940
1833 782
2 324 722
1 164 472
EXPENDITURE ON
Raising funds
29,309
941
30,250
18,119
Charitable activities
Projerts
838 683
1735 449
1322 467
Total
926 075
839 624
1765 699
1340 586
NEf INCOMEI{EXPENDrruRE)
Transfers between funds
(435,135)
492 329
994,158
492 329)
559,023
(176,114)
20
Net movement in funds
57,194
501,829
559,023
(176,114)
RECONCILIATION OF FUNDS
Total funds brought foward
297,655
768,144
1,065,800
1,241,914
TOTAL FUNDS CARRIED FORWARD
354 850
1269 973
1624 823
1065 800
The note5 form part of these financial statements
Page 9

Project Art Works
Consolidated Balance Sheet
31 March 2025
2025
2024
Notes
FIXED ASSETS
Tangible assets
12
773,993
781,723
CURRENT ASSErs
Debtors
Cash at bank and in hand
13
23,198
1 161431
39,230
1,184,629
987,654
CREDrroRS
Amounts falling due within one year
14
(83,984)
(411,008)
CURRENT ASSETS
1 100 645
576 646
TOTAL ASSEfs LESS CURRENT UABILrrIES
1,874,638
1,358,369
CREDITORS
Amounts falling due after more than one year
15
(249,815)
(292,569)
NET ASSETS
1624 823
1065 800
FUNDS
un￿strICted funds
Restricted funds
20
354,850
1269 973
297,656
TOTAL FUNDS
1624 823
1065 800
The financial statements were approved by the Board of Trustees and authorised for issue on 6 November 2025 and we
signed on its behalf by..
Trusttr rr ii)gl
Trustee vil-< L 3f
The notes form part of these financial ststements
Page 10

Projert Art Works
Company Balance Sheet
31 March 2025
2025
2024
Notes
FIXED ASSErs
Tangible assets
Investments
12
781,723
781,723
773,994
781,724
CURRENT ASSErs
Debtors
Cash at bank and in hand
13
45,696
1130 710
36,139
1,176,406
984,563
CREDITORS
Amounts falling due within one year
14
(75,762)
(407,917)
NEf CURRENT ASSETS
1.100644
576 646
TOTAL ASSETS LESS CURRENT LIABILITIES
1,874,638
1,358,369
CREDITORS
Amounts falling due after more than one year
15
(249,815)
{292,569)
NEf ASSETS
1624 823
1065 800
FUNDS
Unrestricted funds
Restricted funds
20
354,850
1269 973
297,656
TOTAL FUNDS
1624 823
1065 800
The finanaal strdtements were approved by the Board of Trustees and authorised for issue on 6 November 2025 and were
signed on its behalf by:
Trustee CWaK)&LL
Trustee rrf.&
The notes fomi part of these financial statements
Page 11

Project Art Works
Consolidated Cash Flow Statement
for the Year Ended 31 March 2025
2025
2024
Notes
Cash flows from operating actlvitles
Cash generated from operations
Interest paid
23
599,324
(134,541)
Net cash (used in)Iprovided by operating attivities
580 018
168 387)
Cash flows from investing activities
Purchase of tangible fixed assets
Interest re￿iVed
(113)
Net cash provided byl(u5ed in) investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
374 805
Net cash (used in)Iprovided by financing activities
374 805)
88 516)
Change In cash and cash equivalents in
the reporting period
Cash and cash equlvalents at the
beginning of the reporting period
213,008
(250,883)
948 424
1 199 307
Cash and cash equivalents at the end of
the reporting period
1 161432
The notes form part of these financial Statements
Page 12

Project Art Works
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2025
ACCOUNTING POLICIES
Accoufttlng conventlon
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounts'ng and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting
Stsndard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies
Act 2006. The financial statements have been prepared under the historical cost convention, with the ex￿ptIOn of
investments which are included at market value.
Incoming resources
All incoming resources are included in the statement of financial activits'es when the charity 15 entitled to the income
and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular
categories of income..
Voluntsry income is received by way of donation5 and gift5 and 15 included in full in the statement of financial
activities when r￿1ved.
Non Government Grants, including grants for the purchase of fixed assets, are recognised at fair value when the
charity has entitlement after any performan￿ conditions have been met, it is probable that the income will be
received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Income from investments 15 included in the year in which it is receivable.
Resources expended
Expenditure is recognised on an accrual basis as a liabilty is incurred. Expenditure indudes VAT which cannot be
recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with running specific projects. Charitable expenditure
iiiinprises those costs inCUr￿d by the charity in the delivery of its attivities and *rvices for its beneficiaries. It
includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary
to support them.
Suprort costs are those costs incurred directly in support of expenditure on the objects of the charity.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the
charity and includes the audit fee.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated
useful life.
Short leasehold
Fixtures and fittings
over the lease term
500/0 on reducing balan
Where freehold property has not been depreciated this is because the trustees believe the cUr￿nt value to be
reasonable.
All assets with a net book value of less than £100 were written off in the year.
Debtors receivable and Credito￿ payable within one year
Debtors and creditor5 receivable and payable within one year are recorded at transaction price. Anylosses arising
from impairment are recognised in expenditure.
Taxation
The Charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trusteess.
Page 13
continued.....

Project Art Works
Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025
ACCOUNTING POLICIES- continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the Charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitsble
company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Operating leases
Rentals paid under operating leases are charged to the Ststement of Financial Activities on a strdight line basis
over the period of the lease.
Going concern
The financial statements have been prepared on a going con￿rn basis as the trustees believe that no material
Un￿rtain￿e$ exist. The trustees have considered the level of funds held and the expected level of income and
expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is
sufficient with the level of ￿SerVeS for the charity to be able to continue as a going concern.
DONATIONS AND LEGACIES
2025
2024
Donab'ons
Gift aid
Grants
HMRC employment allowance
Other income
24,474
154
2,106,853
5,000
17,879
759
927,877
5,000
2 165 003
960 930
Grants received, included in the above, are as follows:
2025
2024
Other
The Three Guineas Trust
The Paul Hamlyn Foundation
East Sussex County Council
The Magdalen and Lasher Charity
The National Lottery
Esmee Fairbairn Foundation
Garfield Weston Foundation
The Isabel Blackman Foundation
The Clothworkers Foundats"on - Capital
The Wolfson Foundation - Capital
Emest Kleinwort Charitable Trust
Architectural Heritsge Fund
The Foyle Foundation
Arts Council England
Arts Counal England NPO funding
Arts Council England Lottery Funding
Arts Council England- Capital Development Funding
Hasting Borough council Skills Capitsl Funding
Partnerships and Projects Funded by the UK Government through Hastings
Borough Council
28,185
175,000
68,750
12,000
5,000
19,627
157,500
68,750
5,000
83,500
75,000
60,000
5,000
loo,000
50,000
5,000
10,000
50,000
5,000
513,500
500,000
39,795
322,028
70,236
605,859
2 106 853
927 877
Page 14
continued,.,..

Project Art Works
Notes to the Consolidated Flnanclal Statements - continued
for the Year Ended 31 March 2025
OTHER TRADING AcfivITIES
2025
2024
Fees Earned
Sale of works
137,524
128,024
137 524
INVEsfMENT INCOME
2025
2024
Rents re￿iVed
Deposit account interest
14.400
9,600
RAISING FUNDS
Other trading artivities
2025
2024
Participants artwork
Postagei printing & stationery
Travel & subsistence
Artists & design fees
Bank charges
Payment fees
426
4,238
3,492
12,530
279
357
2,349
3,025
12,289
456
CHARrrABLE AcrIvrrIES COSTS
Support
costs (see
note 7)
Direct
Costs
Totals
Projects
1464 674
279 703
1744 377
SUPPORT cosrs
Governan
costs
Management
Totsls
Projects
154 225
125 478
279 703
Support costs, included in the above, are as follows..
2025
2024
Total
activitie5
Projetts
Wages
Social security
Pensions
Rent, utilities & insurance
Telephone & internet
Postage & Stationery
Travel & subsistence
112.944
12,507
5,564
15,130
3,662
1,964
108,918
11,871
5,457
22,199
3,068
2,865
Carried foNard
153,029
156,497
Page 15
continued.....

Project Art Works
Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025
SUPPORT cosrs - continued
2025
2024
Total
attivities
Projects
Brought fornard
Repairs
Bank charges
Bad debts
Depreciation of tangible and heritage assets
Auditors, remuneration
Professional fees
Capital project overheads
Interest payable and similar charges
153,029
1,196
156,497
1,339
55
23
3,031
15,600
3,400
22,200
3,600
80,372
19 3008
213 791
NET INCOMEI{EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting).'
2025
2024
Auditors, remuneration
Depreciation - owned assets
22,200
15,600
TRusfEES' REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended
31 March 2023.
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
io.
srAFF cosrs
2025
2024
Wages and salaries
Social security cost5
Other pension costs
386,732
39,699
414,553
41,939
444 686
476 518
The average monthly number of employees during the year was as follows..
2Q25
li
2024
12
Programme & Administration staff
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
2025
2024
£60,001- £70,000
Key personal remuneration benefits for the year were £217,981 (2024 - £203,859).
Page 16
continued...

Project Art Works
Notes to the Consolidated Financial Statements - contlnued
for the Year Ended 31 March 2025
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES
Unrestricted
funds
Restritted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
(28,083)
989,013
960,930
Other trading artivities
Investment income
98,323
89,486
187,809
Total
1080 281
1 164 472
EXPENDrruRE ON
Raising funds
13,487
4,632
18,119
Charitable activities
Projects
220 968
1 101499
1322 467
Total
234 455
1 106 131
1340 586
NET INCOMEI(EXPENDrruRE)
(150,264)
(25,850)
(176,114)
RECONCILIATION OF FUNDS
Total funds brought fornard
321,051
(321,051)
TOTAL FUNDS CARRIED FORWARD
170 787
12.
TANGIBLE FIXED ASSETS - Group and charlty
Fixtures
and
fittings
Freehold
property
Short
leasehold
Totsls
cosr
At l April 2023
Addition5
750,131
97,443
55,644
903,218
At 31 March 2024
750 131
903 218
DEPRECtATION
At l April 2023
Charge for year
69,3033
52,192
121,495
At 31 March 2024
129 225
NEf BOOK VALUE
At 31 March 2024
750 131
773 993
At 31 March 2023
750 131
Included in c05t or valuation of land and buildings 15 freehold land of £750,131 (2024 - £750,131) which is not
depreciated.
Page 17
continued...

Project Art Works
Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2025
13.
DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
Group
Charlty
2025
2024
2025
2024
Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income
21,740
23,477
21,532
22,706
10,993
9,393
14.
CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
Group
Charity
2025
2024
2025
2024
Other loans (see note 16)
Trade creditors
Social security & other taxes
Other creditors
Accrued and deferred income
35,394
11,884
8,823
7,183
368,915
7,335
10,572
9,486
35,394
9,931
8,823
5,714
368,915
7,244
10,572
9,486
411008
407 917
15.
CREDrroRS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
Group
Charlty
2025
2024
2025
2024
Other loan:
4CC notc 16)
2d9 815
292 569
815
292 569
16. LOANS
An analysis of the maturity of loans is given below:
2025
2024
Amounts falling due within one year on demand:
Other loans
368 915
Amounts falling between one and two years,,
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years
116 240
116 240
Amounts falling due in more than five years:
Other loans more 5yrs instal
140 935
Page 18
continued.....

Project Art Works
Notes to the Coftsolldated Flnanclal Statements - continued
for the Year Ended 31 March 2025
17.
LEASING AGREEMENTS
Minimum lease payments under nOn-Can￿lIable operating leases fall due as follows:
2025
2024
Within one year
Between one and five years
In more than five years
17,500
70,000
166 250
17,500
70,000
253 750
120 247
18.
SECURED DEBTS
The following secured debts are included within creditors..
2025
2024
Other loans
Nesta Arts & Culture Impart LLP have a fixed and floab'ng charge over the freehold property.
19. ANALYSIS OF NET ASSETS BETWEEN FUNDS - Group
2025
Total
funds
2024
Total
fijnds
Unre5tritted
funds
Restricted
funds
Fixod assets
Current assets
Current liabilits'es
Long term liabilities
781,289
(116,857)
(59,767)
249 815)
(7,296)
1,301,486
(24,217)
773,993
1,184,629
(83,984)
249 815)
781,723
987,654
{411,008)
292 560)
354 850
1269 973
1624 823
1065 800
20.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
funds
At
31.3.25
At 1.4.24
Unrestricted funds
General Designated funds
ReseNe
202,779
(435,135)
472,001
239,645
115 205
297,656
(435,135)
492,329
354,850
Restricted funds
Capital
Projects
National Lottery
Arts Council
(30,452)
523,694
42,272
232 630
70,236
532,685
34,397
109,704
(42,272)
594 158)
74,181
1,168,083
768 144
994 158
492 329
1269 973
TOTAL FUNDS
1065 800
559 023
1624 823
Page 19
continued....,

Projert Art Works
Notes to the Consolldated Financial Statements - continued
for the Year Ended 31 March 2025
20.
MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Incoming
sour￿$
Resources
expended
Movement
in funds
Unrestrlcted funds
General Designated funds
Reserve
460,194
(895,329)
(435,135)
460,194
(895,329)
(435,135)
Restricted funds
Caprtal
Projects
Nats'onal Lottery
Arts Council
70,236
1,293,465
(70,236)
534,685
(758,780)
470 081
389 237
1833 782
839 624
994 158
TOTAL FUNDS
2 293 976
1734 953)
559 023
Comparatives for movement in funds
Net
movement
in funds
Transfers
belMeen
funds
At
31.3.24
At 1.4.23
Unrestricted funds
General Designated funds
ReSe￿e
32,835
(154,677)
324,621
202,779
126,868
{150,263)
321,051
297,656
Restricted funds
Capital
Projects
National Lottery
Arts Council
Paul Hamlyn - projects
Paul Hamlyn - core
120,000
601,498
34,792
296,256
32,500
{137,432)
(332,049)
73500
370,130
(13,020)
254,245
(66,020)
(433,756)
(32,500)
-(30,452)
523,694
42,272
232,630
1 115 046
321051
768 144
TOTAL FUNDS
1241914
176 114)
1065 800
Page 20
continued...

Project Art Works
Notes to the Consolidated Flnanaal Statements - continued
for the Year Ended 31 March 2025
20.
MOVEMENT IN FUNDS - contlnued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General Designated funds
ReSe￿e
70,503
(225,180)
(154,677)
74,917
{225,180)
(150,263)
Restricted funds
Capital
Projects
National Lottery
Arts Council
(137,432)
(792,577)
(137,432)
(332,040)
73,500
370 130
460,528
73,500
546 253
176 123)
1080 281
1106 132
TOTAL FUNDS
1 155 198
1331312
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
Transfers
bel￿een
funds
At
31.3.25
At 1.4.23
Unrestricted funds
General Designated funds
Reserve
32,835
{589,812)
796,622
239,6945
115 205
126,868
(585,398)
813,380
354,850
Restrlcted funds
Capital
Projects
National Lottery
Arts Council
Paul Hamlyn - projects
Paul Hamlyn - core
120,000
601,498
34,792
296,256
32,500
(67,196)
202,636
73,500
759,367
21,377
363,949
(108,292)
(1,027,914)
(32,500)
30 000)
74,181
1,168,083
27,709
1115 046
968 307
813 380
1269 973
TOTAL FUNDS
1241914
382 909
1624 823
Page 21
continued...

Project Art Works
Notes to the Consolidated Finanaal Statements - continued
for the Year Ended 31 March 2024
20.
MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows:
Incoming
resources
Resourtrs
expended
Movement
in funds
Unrestricted funds
General Designated funds
Reserve
530,697
-(1,120,509)
(589,817)
535,111
(1,120,509)
(585,398)
Restricted funds
Capital
Projects
National Lottery
Arts Council
Paul Hamlyn - projects
Arts Council - core
Paul Hamlyn - core
70,236
1,753,993
73,500
1,016,334
(137,432)
(1,551,357)
(67,196)
202,636
73,500
759,367
(256,967)
2 914 063
1945 756
968 307
TOTAL FUNDS
3 449 174
3 066 265)
382 909
Purpose of funds
Purposes of unrestricted funds
The General Designated fund represents the amounts re￿iVed by the charity designated by the trustees to cover
core costs and specific ongoing projects..
The Reserve fund represents funds held as a contingency in line with the reserves policy of the charity as detailed
in the Report of the Trustees. During the year £20,328 (2024 - £844) was added to the fund.
Purposes of restricted funds
These a￿ projects where grant condib'ons have been imposed on them.
The restricted capitsl fund repre*nts the net book value of tsngible fixed assets used in projects. Each year an
amount is transferred to or from the fund representing the movement in the net bwk value of tsngible fixed assets
which were acquired from restricted projects
Transfers
Transfers are made between core costs and individual projects to redistribute funding in line with conditions
attaching to the grants originally received.
21.
EMPLOYEE BENEFIT OBLIGATIONS
Defined benefit pension contributions of £21,288 (2024 - £20,026) are recognised in the Statement of Financial
activities.
These pension contributs'ons are allocated to fund on the same basis a5 the gr055 5alarie5.
Included in other c￿dItorS is £3,882 (2024 - £3,447) in respett of pension contributions.
Page 22
continued.....

Project Art Works
Detailed Consolidated Statement of Financial Activities
for the Year Ended 31 March 2025
2025
2024
INCOME AND ENDOWMENTS
Donations and legacles
Donats'ons
Gift aid
Grants
HMRC employment allowance
Other income
24,474
154
2,106,853
5,000
17,879
759
927,877
5,000
2,165,003
960,930
Other trading activities
Fees Eamed
Sale of works
137,524
128,024
137,524
187,809
Investment Income
Rents re￿iVed
Deposit account interest
14,400
9,600
Total Incomlng resources
2,324,722
1,164,472
EXPENDITURE
Other trading activities
Participants artwork
Postage, printing & stationery
Artists & design fees
Bank chatrges
Payment fees
426
4,238
3,492
279
357
2,349
3,025
12,289
456
21,322
18,119
Charltable activities
Wages
Social security
Pensions
Artist fees
Artist planninglinduttion
staff training
Projett evaluation
Archivist
Professional fees
Materials
Photography & film
Installation
Fees, submissions & art fair5
Exhibition costs
Equipment and venue hire
Rent, utilitie5 & insurance
Computer & webslte costs
Carried fomard
273,788
27,192
12,591
159,826
4,505
2,904
1,445
15,103
40,955
20,847
305,635
30,068
14,569
188,245
7,115
4,212
7,7776
14,538
53,485
47,398
2,800
19,337
3,803
27,294
29,010
13,550
652,334
32
12,178
13,597
43,912
11,104
756,664
The pages does not form part of the statutory financial statements
Page 25