**Draft Financial Statements at 07 November 2025 at 16:45:39** **Charity registration number 1149607 (England and Wales) Company registration number 07842254** ## **HVH ARTS LTD** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025** **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr M Von Herkomer|| |---|---|---| ||Ms L D Ali|| ||Ms M Byrne|| ||Mr N Webb|| ||Mr T Lomnitzer|| ||Mr A J M Marks|(Appointed 1 May 2025)| |**Secretary**||| |**Charity number (England and Wales)**|1149607|| |**Company number**|07842254|| |**Registered office**|4 Hunter Street|| ||London|| ||United Kingdom|| ||WC1N 1BD|| |**Independent examiner**|Xeinadin Billericay Limited|| ||Lakeview House|| ||4 Woodbrook Crescent|| ||Billericay|| ||Essex|| ||CM12 0EQ|| **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 12| **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ The trustees present their annual report and financial statements for the year ended 30 April 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". ## **Objectives and activities** ## _Objectives and aims_ The charity aims to inspire a generation of young people by offering them a gateway to the Arts by funding after and out of school classes in primary and secondary state schools in England. The foundation provides children with the inspiration and tolls to develop lifelong artistic passions. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## _Public benefit_ The policies adopted to further the objectives of the Charity for public benefit in accordance with section 4 of the 2006 act to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties are disclosed in section headed objectives and aims in this report. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ ## **Financial review** ## _Reserves policy_ It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. ## **Plans for future periods** HvH Arts currently supports 1024 unique children/young people per year through our Arts programmes and it is our aim to grow this to 2,500 children/young people per year. To achieve this, we need to secure more grants, funding and private donations. Having access to a larger space to deliver our Arts programmes is a key driver to reaching our target of 2,500 children/young people per year, thus our long-term strategy is to secure our own building to deliver our Arts programmes from. ## **Structure, governance and management** The charity charity is controlled by the governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Mr M Von Herkomer Ms L D Ali Ms M Byrne Mr N Webb Mr T Lomnitzer Mr A J M Marks (Appointed 1 May 2025) _Recruitment and appointment of trustees_ - 1 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ The trustees report was approved by the Board of Trustees. .............................. Mr T Lomnitzer **Trustee** Date: ............................................. - 2 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HVH ARTS LTD** I report to the trustees on my examination of the financial statements of HvH Arts Ltd (the charity) for the year ended 30 April 2025. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **Xeinadin Billericay Limited** Lakeview House 4 Woodbrook Crescent Billericay Essex CM12 0EQ Date: ............................ - 3 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 30 APRIL 2025**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**2**|115,842|183,542| |Charitable activities|**3**|78,137|79,781| |Investments|**4**|482|364| |**Total income**||194,461|263,687| |**Expenditure on:**|||| |Charitable activities|**5**|203,810|195,970| |**Total expenditure**||203,810|195,970| |**Net income/(expenditure) and movement in funds**||(9,349)|67,717| |**Reconciliation of funds:**|||| |Fund balances at 1 May 2024||165,124|97,407| |**Fund balances at 30 April 2025**||155,775|165,124| - 4 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **BALANCE SHEET** ## _**AS AT 30 APRIL 2025**_ |**Notes**
**Fixed assets**
Intangible assets
**12**
Tangible assets
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
**17**|**2025**
**£**
3,000
144,820
147,820
(3,606)|**£**
7,565
3,996
11,561
144,214
155,775
155,775
155,775|**2024**
**£**
2,999
158,075
161,074
(6,448)|**£**
7,265
3,233| |---|---|---|---|---| |||||10,498
154,626| |||||165,124| |||||165,124| |||||165,124| The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 April 2025. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financials statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financials year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 31 October 2025 Mr T Lomnitzer ## **Trustee** Company registration number 07842254 (England and Wales) - 5 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 APRIL 2025**_ ## **1 Accounting policies** ## **Charity information** HvH Arts Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Hunter Street, London, WC1N 1BD, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.3 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. ## **1.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is accounted for on as accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **1.5 Intangible fixed assets other than goodwill** Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Software 10 years ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. - 6 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ ## **1 Accounting policies** ## **(Continued)** Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 25% - reducing balance Computers 33% - straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Taxation** The charity is exempt from corporation tax on its charitable activities. ## **1.8 Leases** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. ## **2 Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Donations and gifts|115,842|183,542| |**Donations and gifts**||| |Other|115,842|183,542| ||115,842|183,542| |**Income from charitable activities**||| ||**Unrestricted**|**Unrestricted**| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |**Grants**||| |Performance related grants|78,137|79,781| **3 Income from charitable activities** - 7 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ ## **4 Income from investments** |**5**
**6**|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
Interest receivable
482
364
**Expenditure on charitable activities**
**Artistic**
**creation**
**Artistic**
**creation**
**2025**
**2024**
**£**
**£**
**Direct costs**
Marketing
3,200
3,691
Photography and Art Resources Costs
9,213
15,237
Exhibition Costs
480
2,234
Tutors
74,801
50,218
Travel
2,924
5,000
Projects and studio hire for music, photography and filming
9,072
27,994
Bank charges
12
223
Food, Drinks beneficiaries
10,269
-
109,971
104,597
**Share of support and governance costs (see note 7)**
Support
92,600
90,293
Governance
1,239
1,080
203,810
195,970
**Analysis by fund**
Unrestricted funds
203,810
195,970
**Description of charitable activities**
Artistic creation| |---|---| - 8 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ ## **7 Support costs allocated to activities** |**Artistic**
**creation**
**2025**
**£**
Staff costs
77,117
Depreciation
3,065
Rent and rates
6,928
Insurance
1,058
Light and heat
350
Telephone and Fax
1,970
Printing, Postage and Stationery
3,333
Repairs and renewals
100
Sundries
869
Governance
1,239
96,029
**8**
**Net movement in funds**
**2025**
**£**
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
-
Depreciation of owned tangible fixed assets
1,937
Amortisation of intangible assets
1,128|**Total**
**2024**
**£**
70,571
2,285
9,037
976
16
1,028
984
3,575
1,821
1,080| |---|---| ||91,373| ||**2024**
**£**
-
1,299
986| ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **10 Employees** The average monthly number of employees during the year was: ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Directors|6|5| - 9 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ |**10**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**(Continued)**
**2025**
**2024**
**£**
**£**
73,662
67,563
2,125
1,827
1,330
1,181
77,117
70,571|**(Continued)**
**2025**
**2024**
**£**
**£**
73,662
67,563
2,125
1,827
1,330
1,181
77,117
70,571| |---|---|---| |||70,571| There were no employees whose annual remuneration was more than £60,000. ## **11 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12 Intangible fixed assets** |**Intangible fixed assets**|| |---|---| ||**Software**| ||**£**| |**Cost**|| |At 1 May 2024|9,857| |Additions - separately acquired|1,428| |At 30 April 2025|11,285| |**Amortisation and impairment**|| |At 1 May 2024|2,592| |Amortisation charged for the year|1,128| |At 30 April 2025|3,720| |**Carrying amount**|| |At 30 April 2025|7,565| |At 30 April 2024|7,265| - 10 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ |**13**
**Tangible fixed assets**
**Plant and**
**equipment**
**Computers**
**£**
**£**
**Cost**
At 1 May 2024
6,028
747
Additions
-
2,700
At 30 April 2025
6,028
3,447
**Depreciation and impairment**
At 1 May 2024
2,878
664
Depreciation charged in the year
788
1,149
At 30 April 2025
3,666
1,813
**Carrying amount**
At 30 April 2025
2,362
1,634
At 30 April 2024
3,150
83
**14**
**Debtors**
**2025**
**Amounts falling due within one year:**
**£**
Prepayments and accrued income
3,000
**15**
**Creditors: amounts falling due within one year**
**2025**
**£**
Other taxation and social security
2,075
Other creditors
(670)
Accruals and deferred income
2,201
3,606
**16**
**Retirement benefit schemes**
**2025**
**Defined contribution schemes**
**£**
Charge to profit or loss in respect of defined contribution schemes
1,330|**Total**
**£**
6,775
2,700| |---|---| ||9,475| ||3,542
1,937| ||5,479| ||3,996| ||3,233| ||**2024**
**£**
2,999| ||**2024**
**£**
2,774
1,553
2,121| ||6,448| ||**2024**
**£**
1,181| - 11 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 APRIL 2025**_ ## **17 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 1 May 2024**
**Incoming**
**resources**
**Resources**
**expended**
**At**
**£**
**£**
**£**
General funds
165,124
194,461
(203,810)
**Previous year:**
**At 1 May 2023**
**Incoming**
**resources**
**Resources**
**expended**
**At**
**£**
**£**
**£**
General funds
97,407
263,687
(195,970)|**30 April**
**2025**
**£**
155,775
**30 April**
**2024**
**£**
165,124| |---|---| ## **18 Related party transactions** Wages include salary to Ms Clark who is a close family member of one of the Trustees on the board during the year. - 12 - **Draft Financial Statements at 07 November 2025 at 16:45:39 HVH ARTS LTD** ## **PROFIT AND LOSS ACCOUNT** _**FOR THE YEAR ENDED 30 APRIL 2025**_ |**Notes**
Cost of sales
Taxation
**11**
**(Loss)/profit for the financial year**
**Total comprehensive income for the year**|**2025**
**£**
155,775
-
(9,349)
(9,349)|**2024**
**£**
165,124
-| |---|---|---| |||67,717| |||67,717| - 13 -