REGISTERED COMPANY NUMBER: 06602989 IEngland and Wales} REGISTERED CHARITY NUMBER: 1126872 REPORT OF THE TRUSTEES AND UNAUDITED FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR ARTS GATEWAY MK LIMfTED
ARTS GATEWAY MK LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Reference and Admknlslrallve Detalls Report of the Trustees 2 to 4 Independenl Examiner's Report Statèmènt of Financial Aetiviti•$ Balance Sheet Notes to the Flnanclal Statements 9 to 14
ARTS GATEWAY MK LIMITED REFERENCE AND ADMINISTrATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES JVBesl D S Millis (resigned 18.11.241 A Shaw (resigned 18.11.24} J M Siewart (resigned 3.4.241 M L ThorTbas-Asante (resigned 20.5.24} N Cutts jappointe(120 5.241 IreswJneé 19.5,251 T De Sousa F Hameed {rgned 9.12.241 L SGriven lappoinled 20.5.241 Ire51gned 18.11.241 J E Willis (resigned 3.6 241 M North (appointed 15.7.24) Z Raver) (appointed 15.7.241 J Femardaz (appointed 25.3.25) A Aagha lappointed 15.8.251 A Sharrna lapp(Hnted 7.10.251 A A Patèl lappoint6d 17.11.25) K Ranyard lapp¢inted 17.11.251 REGISTERED OFFICE 18-20 Bumers Lane lQ"In Farm Milton Keynes BuckirvJhamshire MK11 3HB REGISTEREO COMPANY NUMBER 06602989 {Engiand and Wales) REGISTERED CHARITY NUMBER 1126872 INDEPENDENT EXAMINER Ad Valorem Accountancy servIs Limited Chartered Certified Accountants 2 MarrFami Court Old Wolverton Road Old Wolverton Milton Keynes BuckiThJhamshire MK12 5NN Page 1
ARTS GATEWAY MK LIMITED (REGISTERED NUMBER: 06602989} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Iruslees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in aCCcdance with the accounting poliryes set out in note 1 to the fincial statements and comply with the ehanly's Memorandum and Articles, the Compar)ies Act 2006 and 'Accounling and Reporting by Charities.. Statement of Recommendec P¢11 applicable lo charities preparing their accounts in accordan with the Financial ReportirvJ Standard applicab in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods ci)mmencing from 1 January 2016). Objeclivos and altIeS The charity's objects are lo foster and develop the arts in the urmtary council area of Milton Keynes and adjoining areas. To achieve this we ddiver community focussed projects developed in response to local need &which are currenlty.. 1. Arts Central Studios Based al our Kiln Farm site al 20 8umers Lane. we are the key provider of kiw-cost. affordable creatwe studios in Milton Keyfft5 with over 80 Studio Holders on stie., b. The Box Arts Club offers our artists. community orlS2110ns and Ihe public a low cost. attraclive ar)d public access space space from whKh lo host exhibib"ons, w0shopS and music event5 of all kirKJs- 2. MKLirfes1 Now in Ils 8th year, dellvers year-round crealive programmes - both in-person and onllne - reaching an estlmated lolal audience of 2,500. The trustees have paid due regard to guidance issued by the Charity C(xnmission in deciding what activities the charity should undertake. Achievements and performance Vve continued lo devdop our creative hub at 20. Bumer5 Lane Kiln Farm. which we hold on a 12-year lease. Over th8 y8ar wo accomrnodaled around 110 creatives in workspaces there. with up lo 80 at any lime. Construction and fit-out of our new presenlation spa. The Box Arts Clth was u)rneted at the start of the year and we welcomed over 1,200 attendees lo a range of events including sewing workshops. music rehearsals. LitF&sl Q&4s. Repair Café and an exhibition with MK College. During 2024-25. MK Litfesl ¢tInued io grow bolh in terms of reach and the variety of itb offeriny, supported by lunding from MKCity Council and MK Cornmunity Foundation dnven and managed by a professional management team. A key part of MK LitFesl is Ihe Raising Voices pr(MJramme which promotes new wrib'ThJ from undetheard groups across MK, and began work on developing a Storymap of Stories. poems and prose by Ial writers about Milton Keynes. In addition we supptyted community-facing pffJgrammes in partnership with MK City Council, MKCenlral Library. MK Cornmunily Learning, Waterstones, thecentreMK. Ingram Spark. lMi, the Open University, The Parks Trust, MK Community Foundation, Heritage Open Days. Walk-Listen-Create. Buckingham Lit Fest, Sl Pauls School, Glebe Farm School, Poetry foi the Planet, Give Peat a Chance, Movember. Kyiv Women s Organisation, Community Arts Resources Centre-, The Box Arts Club. The depth and quality of its aGtivilies coupled wrth a Strong recognisable brand and its loyal team of volunteers ha5 resulted in MKLitfesl becoming an important"shopfronl" for local wrilers. We delivered a pilot Community pro9ramme NYhi¢h tsused on young people, and published the fourth in our series of MinK anthologies of new work. Our programrres also drew on a partnership wrth sister organisation Community Arts Resources Centre, CARC CIC, providing tethnical equipment for Iow-cDsI hire. Page 2
ARTS GATEWAY MK LIMITED (REGISTERED NUMBER: 06602989} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Towards the end of the year, we secured funding from Milton Keynes City Council lo recruit a professional arts administrator for an initial period of 12 months. Trustees regard Ihis as a key development in the long-term plan lo place Arts Gateway IMKI as the major provider of mutti- discapiine, arts based community programmes in Milton keynes. We remained active participants in AHA MK, the umbrella for MKS kn arKI Heritage sector. Financial review During the year incoming resources were £201.666 predominanlly from our studios at Arts Central and significant grants from MK City Council, MK Community Foundaknon, an increase trom £186,194 the year before. Our spending during the 2024125 year was £182.448 compared lo £208.500 the year before. We ended the year wilh balances of £83,001 being an increase of £19.218 on the previous year. Reserves Pollcy It is the policy of the tharily that unrestricted funds which have not been designated for a spe¢ifi¢ use should be maintsined al a level that wll meet aggregate expectatians of liability. assessed by Trustees in 2018 as arourNJ £25k lo be kept under review. This was gernerally aGhieved during 2024125, whi-h ended with £51,456 unreslricled fund5, The charty had restricted reserves from grants previously received of £18.825 at thg slart, and £31.545 at Ihe end of the 24125 year, reflecting programmes that would be delivereij in 202516, particularly MK LitFest. The Charty has no endowments or legacies. Risk management The trustees have assessed the major risks lo which the chanty is expose<J. and are sali5fie(J that systems are In place lo mitigate exposure to the short-lem risks. The Board IS preparing stralegies to mitigale the mgjium-tem risk of not having premises at conclusion of our Bumers Lane lease in April 2030 Plans for the future Our current plans for the future revofve around three key issues: Maintaining and improving our premises at Bumers Lane and developing a premises strategy for growth and survival of Arts Central beyond Ihe end of our current lease al Bumers Lwe lo mainiain the provisK)n of affordable art studios in Milton K8yn8. Inueasing opportunities lo participate in ueative arts and writing by dèveloping varied programmes taryeted at Ioe81 communities. Delivtrring a broader artist and wiiter development piogramm8 lo studKI-hold8rs and AGMK m8mb8rs and cr*ativ8s across Milton Keynes. both within literature and visual arts. Page 3
ARTS GATEWAY MK LIMITED (REGISTERED NUMBER: 06602989} REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Stru¢tvre, govemance and management Arts Gateway MK Limited is a company limited by guarantee. incorporated on 27 May 2008 in England and Wales, company number 06602989 and is governed by ils Memorandum and Artides of Association, as amended on 11 November 2008.11 has also been registere(J with the Charity CommissK)n since 24 November 2008. The lrnstees, who are also the d1ClOr$ for the wrpose of company law. and who served during the year and up lo the dale of signature of the financial statements were.. JVMBe51 T De Sousa M North (apinted 15 Juty 2024} Z Raven Ilappointed 15 July 20241 J Fernandaz (appointed 25 March 20251 A Alagha (appointed 15 August 20251 A Sharma lapFX)inted 7 October 20251 K Ranyard lappointed 17 November 2Q251 A A Patel lappoinled 17 November 2025) A Shaw (resigned 18111120241 D S Millis (resigned 18111120241 L sVen lappoinled 20105120241 Iresigned 1811112024) N Cults lappointed 20105120241 (resigd 19105120251 J M Stewart (resigned 03104120241 M L Thomas-Asante (resigned 20105120241 J E Willis (resigned 03106120241 F Hameed Iresigned 9112120241 The company is managed by a board ol unpaid trustees which has ranged from 5 to 8 members, meeling six limes a year. All of the Trustees are rnembers of the CL)mpany and guarantee to contribute £1 in the event of a winding up. Pot8ntial trustees with an interest in the arls and with skills to contril)ute to the charity's stratogy and dev8lopmgnl are recruited frrmn the Milton Keynes area_ The Memorandum and Articles of Asso¢iatK)n provide for up to 12 Trustees to be appointed by the Board, currently with no time I mil on period seNed. The Board from time to lime identifies skill gaps we WOU like filled. Where suitable candidates are identrfied they arè inviled for an infomial cMversation and to observe at a tM)ard meeting. Incoming Trustees are requirec lo accept the tharity's policies and Trustee Duties, Responsibilities and Cod• ol Conduct. The Board intends to inuease the number of Trustees and ensure we remain fil for purpose going fotward, None of the Trustees has any k)eneficial interest in the company. Day lo day management of operations is delegated lo an office manager and a part-time PAYE employee. Other members of the team are contracted lo work on short-lem projects. This report has been prepared in accordan swth the special provisions of Part 15 of the Companies Act 2006 relating lo small companies. Approved by order of the tKJard of Iruslees on 19 Drnber 2025 and signed on its behalf by.. J V Best - Trustee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARTS GATEWAY MK LIMITED Independenl examiner'5 report to the trustees of Arts Gateway MK Limitedllhe cornpan) I report lo the charity Iruslees on my examina11 of the accounts ofthe Company for Ihe year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes ol company lawl you are responsible for the preparation of the accounts in accordan with the requirewits of the Companies Act 2006 llhe 2Tr)6 Act'}. Having satisfied myself that the accovnts of the Company are r¥)t required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I rewjrt in respect of rny examination of your charity's accounls as carried out under Section 145 of the Charities Act 2011 {'the 2011 Ad'l. In carrying out my examinatson I have followed the Directions given by the Charity Cownmission under Section 145{51 {bl of the 2011 Act. Independenl examinerfs statement I have completed my examination. l Confimi that no matters have me to my attention in connection with the examination giving me cause to believe". accounting records were not kept In respect of the Company as required by seckn.on 386 of the 2006 Act,. or the accoun15 do not aGcord wth those records; or Ihg accounts do not comply with the accountiry requirements of Section 396 of the 2006 Acl other than any requirement thal the accounts give a true and fair view which is not a matter consKlered as part of an independent examination- or the accounts have not been prepare¢ in accordan with the methods and principles of Ihe Statement of Recommended Practic* for accounting and repcxb.ng by charities lapplirable lo charities preparing their accounts in aC(X)rdan with the Flr)ancial ReFXKting Standard appluble in the UK and Republlc of Ireland IFRS 102)). I have no concems and have come across no other matters in conneclion with the examination lo which attention should be drawn in this report in order lo enable a protEr understanding of the accounts to be reached. Tom Fool FCA (Honorary repthing Accountsntl Ad Valorttm AccoUnt¢Y Servic8s Limited Chartered Certified Accounlarts 2 Manor Farm Court Old Wolverton Road Old Wolverton Milton Keyrnes Buckinghamshire MK12 5NN 19 Dember 2025 Page 5
ARTS GATEWAY MK LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted fvnd Notes INCOME AND ENDOWMENTS FROM Donations and legaci&s 6,642 39.995 46,637 50,412 Other charitable aciiviiies Totsl 152.134 158.776 2,895 42.890 155,029 201,666 135,782 186,194 EXPENDITURE ON Raising funds 75 1.017 1,092 672 Charitable activities Charitable activities 141.039 28.590 169.629 191,896 Other costs Totsl 11,164 152,278 563 30,170 11.727 182,448 15,932 208.500 NET INCOMEIIEXPENDITUREI 6.498 12.720 19.218 122.306 RECONCILIATION FUNDS Total funds brought forwar 44.958 18.825 63,783 86.089 TOTAL FUNDS CARRIED FORWARD 51.456 31.545 83.001 63.783 The notes fomi part of UEse fttianual statements Page 6
ARTS GATEWAY MK LIMITED (REGISTERED NUMBER: 06602989} BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted fvnd Notes FIXED ASSETS Tanglble assets 48,777 48,777 67,123 CURRENT ASSETS Debtors Cash at bank 10 38,327 38,327 18,883 53.168 31,545 84.713 70,686 CREDITORS Amounts falling due within one year {50,489} {50,4891 124.153 NETCURRENT ASSETS 2.679 31,545 34.224 46.533 TOTAL ASSETS LESS CURRENT LIABILITIES 51.456 31.545 83,001 113,656 CREDITORS Amounts falling due after more than one year 12 149,873 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 51.456 31,545 83,001 63,783 14 51,456 31.5 83.001 44,958 18.825 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ènded 31 March 2025. The members have not required the company lo obtsin an audtt of its financial statements for the year en¢Jed 31 March 2025 in accordan with Section 476 oflhe Companbes Act 2(Th. The Iruslees acknedge their responsibilities lor {al ensuring that the charitable company keeps accounting records that compty with Sections 386 and 387 of the Companies Ad 2006 and prep¥ing financial slatemènts which giva a trua and fair vièw of tha stata of affairs of tho charitable company as at the end of each financial year and of ils SLrplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otheThMse comply wlh the requirements Df the Companies Act 2006 lating to financial statements, so far as applicable lo the charitsble company. {bl The notes fomi part of UEse fttianual statements Page 7 continued...
ARTS GATEWAY MK LIMITED (REGISTERED NUMBER: 06602989} BALANCE SHEET- ¢ontinued 31 MARCH 2025 These financial slalements have been prepared in accordance with Ihe provisions applicae lo charilable companies subject to the small companies regime. The financial statemenls were approved by the Board of Trustees and authorised for issue on 19 December 2025 and were signed on its behalf by.. J V Best - Trustee The notes fomi part of UEse fttianual statements Page 8
ARTS GATEWAY MK LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public benefit enlity under FRS 102. have been preped in accordance with the charib.es SORP IFRS 1o21'AeCnIlng and Reportillg by Charities.. Statement of Recommended Pracli¢e applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and ReJuNic of Ireland IFRS 1021 leffectwe 1 January 20191,, Financial Reporting Standard 102 'The Financial Rertsng Standard appIlble in the UK and Republic of Ireland, and the Cornpanies Act 2006. The financial statements have beer prepar under Ihe historical cost convenb"on. INCOME AJI income is recogniseé in the Statement of Finanoal Actiwlies once the Charity has entitlement lo the funds, 51 Is probltr that Ihe income will be r1Ved and the amount can be measured reliably. EXPENDITURE Liabilrties are recognised as expendiluie as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable thal a transfer of economic benefits will be wuired in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that ag Jregate all cost related to the category. Where costs cannot be directly attributed to particular headings Ihey have been allocated to aclivilies on a basis cons¢slenl wilh the use of resi)urc8s. TANGIBLE FIXED ASSETS Depreciation is provided al the lollowing annual rates in order to write off each asset over its estimated useful life. Lané and buikling Fixlures and fittings 10% on ¢y)st 25°h on cost TAXAMON The charity is 8xempt from corFMJration tax on its charitabl8 activitios. FUND ACCOUNTING Unrestricted funds can be used in accordance with the chanlable objectives * the discretion of the trustees. Restricted funds can only be used for particulai restricied purwses wilhin the objects of lh* chaiily. R8Strictions 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 lo the finanaal slalements. PENSION COSTS AND OTHER POST4ETIREMENT BENEFITS The charitable Company operates a defined contribution pension scheme. Contribulions payable lo Ihe charitable company's pension scheme are charged lo the Statement of Financial Activities in the period to which they rel81e. GOING CONCERN At the lime of approving the financial statements. Ihe truslees have a reasonable expectation that the Ghartty has adequate reSoUrS to continue in operationa existen foi the foreseeable future. Thus the Iruslee5 continue lo adopt the going concem bass of accounting in prepariig the financial slalemenls. Page 9 continued...
ARTS GATEWAY MK LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Other grant income Donations 44,999 1.638 45,775 4,637 OTHER CHARITABLE ACTIVlnES 2025 2024 Venue hire fees Membership fees Other income 125.284 1.546 28.199 155029 118,692 1.384 15,706 135 782 RAISING FUNDS RAISING DONATIONS AND LEGACIES 2025 2024 Advertising & marketing 672 NET NCOMEIIEXPENDITURE) Nel incomelexpenditur& is slated after charging depreciatrjn of £19,37612024= £18,878). TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneratK)n or other beneffts for Ihe year ended 31 Mar(* 2025 nor for the year ended 31 March 2024. TRUSTEES. EXPENSES J Best. a truslee of the charity, was reimbursed for expenses totslling £22712024.. £4521 incurred on behalf of the charity for propety maintenance. event costs and general supplies_ EMPLOYEES avèragè mtsrtthly numbèr of employÈes during thè yèar was 1 (2024 - 1). Page 10 continued...
ARTS GATEWAY MK LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legaGies 6,663 43,749 50,412 Other charitaNe activities Total 125,536 132,199 10,246 53,995 135,782 186,194 EXPENDITURE ON Raising funds 672 672 Charitablè activities Charitsble activities 136,008 55,888 191,896 Other costs Total 15,246 151.254 686 57,246 15,932 208,500 NET INCOMW(EXPENDITURE 119,0551 13,2511 122,3061 RECONCILIATION OF FUNDS Total funds brought forward 64,013 22,076 86,089 TOTAL FUNDS CARRIED FORWARD 44.958 TANGIBLE FIXED ASSETS Fixtures and Ilttlngs Land and bullding Totsls COST At 1 April 2024 Addil#)ns At 31 March 2025 DEPRECIAMON At 1 April 2024 Charge for year At 31 March 2C)2S NET BOOK VALUE At 31 March 2025 At 31 March 2024 77.083 56,383 1.030 57,413 133,466 1,030 134,496 77.083 36.165 7.708 43.873 30,178 66,343 41.846 85.719 33.210 40918 Page 11 continued...
ARTS GATEWAY MK LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 10. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2025 2024 Trade debtors Other debtors Prepayments 25,325 1.231 11,771 7,837 500 11. CREDITORS: Amoupifs FALLING DUE WITh14 ONE YEAR 2025 2024 Trade creditors Social security and other tsxes Other creditors Loans Accruals and deferred Income 12.850 13.191 105 2.019 3,040 25.362 8.7S3 50,489 24,153 12. CREDITORS: Amoufrifs FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Other loans Isee note 13) Fixed rate 20k unsecured loan notes payable in 5 years. 13. LOANS An analysis of the maturity of bans is given below: 2025 2024 Amounts falling due in more than fve years- Repayable otherwise than by instalments: Other long term loans 14. MOVEMENT IN FUNDS Net movement in funds At 114124 At 3113125 Unrestrlcted lunds General fund 44.958 6,498 51,456 Restricted lunds Restn"cted fund 18.825 12,720 31,545 TOTAL FUNDS 63.783 Page 12 continued...
ARTS GATEWAY MK LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 14. MOVEMENT IN FUNDS - continued Nel movement in funds. included in the above are as foll¢y+¥S.' Incoming resourGes Resources expended Movemènt In funds Unrestricted funds General fund 158.776 1152,278} 6,498 Restricted funds Restricted fund 42.8 (30,1701 12,720 TOTAL FUNDS 201.666 182,448} Comparatlves for movement In funds Net movement In funds At 114123 At 3113124 Unrestricted fund$ General fund 64.013 (19,055) 44.958 Restrfctod funds Restricted fund 22.076 13,251 } 18,825 TOTAL FUNDS 86.089 63,783 Cornparative nel movement in funds. included ID the above are as fol5.. Incoming r8sourcg$ Resources gxp8nd&d Movemenl In funds Unrestricted funds Geneol fund 132.199 1151,254} 119,0551 Restrfctsd funds Restricted fund 53.995 {57.246} 13.2511 TOTAL FUNDS 186.194 208 500} 22,3061 Page 13 continued...
ARTS GATEWAY MK LIMITED NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 14. MOVEMENT IN FUNDS - continued A current year 12 monlhs and wior year 12 months combined posilion is as follows= Net movement in fund$ At 114123 At 3113125 Unrestricted funds General fund 64.013 112.557} 51,456 Restricted funds Restricted fund 22.076 9,469 31,545 TOTAL FUNDS 86.089 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows= Incoming resources Resources expended Movement In funds Unrestricted fund$ General fund 290.975 (303,532) 112.5571 Restrfctod funds Restricted fund 96.885 (87,416) 9,469 TOTAL FUNDS 387.860 15. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2025. 16. RESTRICTED FUNDS Restricted funds balance as of 31 March 2025 consist of Ihe fdlowing.. Rowan Centre CARC Lit Festival Director Film 1.100 1.351 18.684 10.000 410 Total 31.545 Page 14
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