Charity registration number 1157238 (England and Wales)
Company registration number 06817424
NORTHAMPTON ARTS COLLECTIVE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

NORTHAMPTON ARTS COLLECTIVE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr J W Chamberlain
Mr D J C Danskin
Ms M A Walker
Ms A L Emmerson
Mr O Evans
Ms C Griffin
(Appointed 22 July 2024)
(Appointed 22 July 2024)
(Appointed 22 July 2024)
Charity number (England and Wales)
1157238
Company number
06817424
Registered office
24 Guildhall Road
Northampton
NN11DP
Independent examiner
Cottons Specialist Services Limited
Chestnut Field House
Chestnut Field
Rugby
Warwickshire
United Kingdom
CV21 2PD

NORTHAMPTON ARTS COLLECTIVE LIMITED
CONTENTS
Page
Trustees, report
Independent examinerfs report
Statement of financial activities
Balance sheet
10
Notes to the financial statemenls

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance wth the accounting policies set out in note 1 to the
financial statements and comply with the charitable companws Articles ofAssociation, the Companies Act 2006 and
"Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their
aGGounts in aGcordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS
102)" (effective 1 January 2019).
Objectives and activities
The objectives of the charity are=_
(1)
To promote art for the benefit of the public by the establishment and maintenance of an art Gallery.
(2)
To advance the education of the public in the subject of art.
The vision and values of the charity are..
Our Vision
To enrich the lives of the people of Northamptonshire through the arts and to be a focal point and catalyst for
Contemporary Art.
The trustees have paid due regard to guidan￿ issued by the Charity Commission in deciding what activities the
charitable company should undertake.
What is Northampton Arts Collective?
Northampton Arts Collective, was established in 2004 as an independent contemporary arts charity and company
limited by guarantee and successfully achieved charitable status in May 2014. NAC is based within the Cultural
Quarter of Northampton, contributing to the development of a vibrant cultural mix, providing a Gentre for creativity
and offering a high-quality contemporary arts programme for the communities of Northampton. the wider county
and the East Midlands region to engage and participate in a range of activities, including exhibitions, performances,
film and community events. NAC partners with arts, education and community organisations to offer arts projects
and events.
Our Resources
In 2024125, Northampton Arts Collective (NAC} continued to deliver a dynamic program while collaborating with key
stakeholders to advance Phase Two of the Capital Project. developing our future home at 24 Guildhall Road. We
aim lo fully reopen the revitalised building in 2026, re-establishing it as a cultural comerstone for Northampton and
placing Art, civic life and community-building at its hearl. This historic space will serve as a bridge, bringing together
artists, makers, producers. and local businesses to foster collaboration between cultural organisations, the council,
and the private sector.

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Our vision for 24 Guildhall Road is to create an inclusive, accessible, and welcoming venue that offers affordable
and free creative engagement and learning opportunities through Art. Afocus will remain on community involvement
and creative skill-building through innovative programs, workshops. and partnerships. To support Ihese goals,
Phase Two of the project included major building upgrades and the following enhancements..
Infrastructure and Sustainability.. Essential repairs to the exlerior were completed, and a new air-source
heating system was installed to ensure that the building is both fit for occupancy and low-carbon.
Cultural and Commercial Spaces.. The redevelopment will introduce 950 square meters of cultural space
dedicated to collaboration. production. leaming. and training.
The Northampton Rooms, designed by Giles Round: This artISt￿esigned area will provide NAC with a
community kitchen, a cafe kiosk and flexible program spaces lo facilitate artistic and community gatherings.
Enhanced Public Access: A new. street-level entrance on Guildhall Road creates a welcoming lobby and
an accessible, contemporary public spa￿.
Identity and Transfomiation: Rebranding the Organisalion to accommodate Ihe new premises and
signage designs. An extensive and collaborative project was undertaken with designers Kellenberger White
to rename and rebrand the organisation to be launched in February 2026.
Once reopened, NAC will serve as the anchor tenant on the first three floors of the building, while the upper iwo
floors will be developed to support complementarylcommercial cultural uses. While construction was undeNay.
NAC temporarily relocated to the Vulcan Works, a coworking Spa￿ for creatives in Northampton's cenlre. This
interim location included an office space. five studio spaces, and a project space. allowing us to continue reduced
programming and community engagement during the redevelopment process.
What does Northampton Arts Collective do?
Principal Activity
The company's principal activity in the year under review ￿￿S running an arts organisation. Northampton Arts
Collective is developing its venue in the heart of the cultural quarter at Twenty-Four Guildhall Road. NAC has a
strong local, regional and national reputation for designing and delivering high-quality contemporary arts exhibitions
and events.
Our Programme throughout 24125
Alongside participating in a significant capitsl renovations programme, NAC maintained and developed its
programme as a contemporary arts organisation offering free activities through exhibitions, our project spa￿,
studio, education and engagement programmes.
During 2024, Phase 2 of the Capital Development Programme for our new home at 24 Guildhall Road was
completed. The project's first phase was completed in August 2022-, a new gallery space, a suite of artist studios
and a project space were developed. Phase 2 of the project CoMmen￿d in October 2023 to expand NAC'S offer to
include the Northampton Rooms and education spaces. As part of phase 2 works, tsvo artists were commissioned
to shape our new spaces: Giles Round was commissioned to design the Northampton Rooms space and Sean
Griffiths to lead on design for the NAC team and shared areas. including the re￿ptIOn area, entrance and public
restrooms.
Throughout 2024125, we continued to deliver our ambitious programme of free activities. Andy Holden's film
"Hermionie: Kingdom of the Sick" was screened at the Northampton Filmhouse. followed by a Q&A session with
critic Tim Smith Laing. This film, developed during Andy's residency with NAC in 2022. attracted a substantial
audience.
Working with the Library Stack in NYC, an online lending digital objects database and digital Library, we continued
to make available a 'Local Branch Library, of the library accessible via Northampton Arts Collective's website, and to
ommission new publications for its accession.

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Our NN Associates scheme ran again. The scheme delivers a tailored programme of support and skill development
for 10 volunteers at NN to progress into employment in the creative industries. This yearfs programme ran alongside
the Northamptonshire Black History Association Archives digitisation project. and the development and delivery of
NN Nights, providing a wealth of volunteer and learning opportunities for its participants.
Organised by our NN Associates, the first Northampton Culture Night (NN Nights) was held in August, and brought
the town to life for an evening of artistic activities. exhibitions and perfomiances. It featured 70 local artists across
11 venues with over 500 attendees. This was followed in De￿mber by the first NN Nights Artist & Makers Market,
which hosted an array of stalls selling original artworksllimited editions, zines, publications, lextiles, ceramiGs.
custom toys, and artisan food & drink.
We hosted Ihe work of 'The Artist in Residence: C2C. Sol Haven and Hope Centre, in our Project Space,
showcasing 18 local artists and over 30 participants as part of a collaborative artist-in-residency project exploring
themes such as social justice. violence against women, climate change justice and healing through arts.
Our partnership with the University of Northampton continued with support for graduate students to undertake a
professional development residency within NAC'S project space, and presentation of the NN Prize to a student in
recognition of an eX￿ptIOnal degree show presentation developed in the Fine Arts degree. Artist Andy Holden
selected this year's prize.
We launched our new Guild programme, designed to activate discussions and programming for the Northampton
Rooms, a flexible space merging art and Gommunity through participatory. experimental experiences designed by
artist Giles Round. Through participatory talkslworkshops led by Grizedale Arts, Resolve Collective, Flatland
Projects and TACO! NAC supported mentoring sessions for local artists and creatives who developed ideas for co-
created activities that could be included in future programming for the space.
During the year. NAC was contracted as a Public Art Consultant by Glenvale Park LLP to manage the recruitment,
selection and installation process for a public art commission at a new Primary School in Wellingborough. The
chosen artist, Fiona Grady, created an artwork. 'Polygon Shuffle., which transfomied the foyer into a Gaptivating
space with suspended Perspex shapes and transparent vinyl motrfs. Designed to evoke wonder, the abstract
geometric elements encourage individual interpretation, reflecting the school's focus on leaming through shapes,
colour, and light.
As part of the redevelopment of 24 Guildhall Road, NAC reviewed its organisational purpose and approach to
supporting artists and communities in line with its charitable objectives. The organisation has been defining its
position as artist-led and exploring how public art agendas can be delivered both within and through the institution.
Building on previous initiatives such as Sensing Place (2022123), which explored creative approaches to place-
making and community-led infrastructure, NAC has begun to evolve its business model towards a more
collaborative and sustainable framework. To reflect this direction. NAC commissioned design studio Kellenberger
White to lead a rebranding process developed through workshops with artists, staff, trustees, and community
members, ensuring the new identity refleds shared values and practice.

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievements and performance
Our continued partnership with West Northamptonshire Council to deliver phase 2 of the 24 Guildhall Road capital
project has been an exciting achievement, reaching practical completion in October 2024. We look forward to
opening in 2026 and sharing the new building with the public. From our temporary base at the Vulcan Works, we
have continued to deliver an exciting programme of activities, which included online sessions, exhibitionsl
perfomanceslshowcases of artworks, creative workshops, infomial leaming sessions and a digital art library
branch. These activities have been deliveredlpresented by over 90 Artists and supported by 37 volunteers.
In February, we were proud to receive national recognition for the redevelopment of 24 Guildhall Road with a
nomination for a Pineapple Award for Creative Retrofit. The Pineapples celebrate ex￿llenCe in placemaking and
place-led initiatives, making this a significant acknowledgement, as it is the first time the town has been shortlisted.
More recently, our CEO Emer Grant was invited to speak at the Irish Architecture Foundation's conference in
Limerick for the 'New Life.. Old Buildings, event about Creative Retrofit and community co-design models and 24
Guildhall Road was also shortlisted for 'Floor of the Year. in the Forbo Flooring Awards. In addition, our Associates
Programme has been recognised with a nomination from the Northamptonshire Community Foundation as part of
their annual awards.
The Trustees would like to thank our CEO and Artistic Director, Emer Grant, and the Northampton Arts Collective
team for their exceptional dedication and hard work over the past year. Their commitment to advancing the
organisation's mission and vision has been evident across all areas of programming and development.
This year presented challenges in securing specific funding streams, as capital investment allocated to the
building's landlord rather than directly to NAC has occasionally created miscon￿ptIOnS regarding the organisation's
available resources and capacity. Despite these challenges, the leam and Board have maintsined a sustainable and
strategic approach, ensuring that the building, its artist community, and public programmes remain central to NAC'S
purpose and offer.
Despite the challenges of operating from a temporary location during the Capital Project, the team has
demonstrated resilience, adaptability, and an unwavering commitment to our audiences, artists. and partners. Their
efforts have ensured the continued delivery and growth of high-quality cultural programming and raised
Northampton Arts Collective's profile both regionally and nationally.
We sincerely appreciate their energy. vision, and the collaborative spirit they bring to every project. Thanks to their
efforts, Northampton Arts Collective is well-positioned to make a significant impact on Northampton and beyond. On
behalf of the Board, we extend our sincere thanks and look forward to working together in the year ahead to bring
our shared goals to fruition.
Financial review
The organisation develops its annual budget through our established financial model. This provides a detailed
breakdown of expenditure and forecasts income. It enables the organisation to identify funding and operational
requirements. The senior management team reviews the budget monthly. with quarterly updates provided to
Trustees. This approach allows clear articulation of funding requirements to partners and provides a clear picture of
the cost of delivering individual aspects of the organisation's activities, thus enabling the further development and
delivery of a high-quality. focused. and sustainable programme.

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reserves Policy
The Trustees have approved a reserves policy that aims to keep the reserve level at the equivalent of 3 months of
turnover. This level of reserves is necessary to ensure-
Sufficient level of working capital to support day-to-day requirements:
Contingency for capital asset replacement and other major unexpected expenditures, such as unplanned
maintenance:
Provision for a three-month exit contingency.
To support reserves at the necessary level. Trustees have agreed that a percentage of any surplus income at the
end of a year can be used to build reserves to the target level.
Total unrestricted reserves as of 31 March 2025 stand at £80,247 (2024 - £120,837), with restricted funds at
£62,038 {2024- £30.001 }.
Investment powers and policy
Under the Memorandum and Articles of Association, the charity has the power to invest in any way which is lo its
benefit. The trustees, having regard to the liquidity requirement for the operation of the organisation's activities and
reserves policy, have operated a policy of keeping a level of available funds in an interest-bearing account, to lake
advantage of better interest rates. lower charges and access to intemet banking.
Structure, governance and management
Governing Document
Northampton Arts Collective Limited is a charitable company limited by guarantee and govemed by its
Memorandum and Articles of Association dated 12 February 2009 and amended 9 May 2014 and registered as a
charity with the Charity Commission. Trust membership is open to any individual over the age of 16 interested in
promoting the objectives. (There is no maximum membership) each of whom will have..
Applied to the trust in the form required by the trustees..
Been approved by the trustees whose decision shall be final-
Expressed hislher personal agreement with the mission statement and Objects of the Charity and-
Consented to become a member.
The memorandum and artides state that subscribers to the memorandum and such other persons or organisations
admitted to membership per the rules made under Article 61 shall be members of the trust.
No person shall be admitted as a member of the trust unless the trustees approve hislher application for
membership.
There are currently 6 members, each of vthom agrees to contribute up to £1 in the event of the charity
winding up.

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up to
the date of signature of the financial statements were=
Mr J W Chamberlain
Mrs K E Chadwick
MrA T Hewitt
Mr D J C Danskin
Ms M A Walker
Ms A L Emmerson
Mr O Evans
Ms C Griffin
(Resigned 20 November 2024)
{Resigned 18 October 2024)
(Appointed 22 July 2024)
(Appointed 22 July 2024)
(Appointed 22 July 2024)
Appointment of trustees
As set out within the Articles of Association:
The Ghair of the trust is nominated by Northampton Arts Collective.,
The number of members of the company shall be no less than 2 with no maximum number and;
The trust maintains a register of members.
Unless the trustees or the Trust in a general meeting shall make other provisions underArticle 61, the truslees may.
in their absolute discretion. permit any member of the trust to ￿tire, provided that after such retirement the number
of members is not less than ￿0.
The Trustees may estsblish different classes of membership and prescribe their respective privileges and duties,
and set the amounts of any subscriptions. The Trustees shall permit such organisations as they shall approve to
become Associate Members, with such entitlements as the Trustees shall from time to time prescribe. For the
avoidance of doubt. Associate Members shall not have any of the usual entitlements of a member of a Company
and, in particular, the right to attend or vote at meetings of the Company.
The Board of Trustees consists of a minimum of two elected members and can include co-opted members. When
considering co-opling trustees, the board has regard to the requirement for specialist skills, for example, an artist or
educator to support programme development.
Elected members are appointed at the Annual General Meeting. and the co-opted members are appointed by a
meeting of the committee.
All members are circulated with invitations to nominate trustees prior to the AGM. This information is also publicly
displayed, advising them of the retiring trustees and requesting nominations for the AGM.
The company is limited by guarantee and was established as a "not-for-profit. company to elevate contemporary
arts within Northamptonshire.
Organisation
The board of trustees, which has a minimum of iwo members and no maximum, administers the charity. The board
meels at least quarterfy. and working groups are identified occasionally lo meet the organisation's operational
needsl development.
The trustees appoint a CEOIArtistic Direclor lo direct and oversee the charity's day-to-day operations. To facilitate
effective operations of the charity, the directors have delegated authority (within the terms of delegation approved
by the trustees) for operational matters, including finance, recruitment and artistic programme and development.

NORTHAMPTON ARTS COLLECTIVE LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Trustee induction and training
New trustees take part in an induction process which details their legal obligations under charity and company law,
the content of the Memorandum and Articles of Association and organisational decision making processes and
includes meeting key staff. This process is supported by reference materials and opportunities to undertake further
training.
Risk Management
The Trustees monitor risk and are in the prO￿sS of developing a risk management strategy and register which
comprises:
An annual review of the risks the charity may fa￿.
The establishment of policy and procedures to mitigate and identified risks: and
The implementation of procedures designed to minimise any potential impact on the charity should those
risks materialise.
This work is ongoing with immediate focus on risks arising from fire. health and safety in the workshops, asset
replacement and reserves. Risk Management and the review of policy and procedures forms an integral part of the
quarterly board meeting.
Related Parties
The charity has a Glose relationship with West Northamptonshire Council and the University of Northampton who
promote and provide a range of arts and culture based activities. The West Northamptonshire Council and
University of Northampton provide essential core funding through an annual partnership agreement. The charity
also has a number of key partnerships with other organisations to support its artistic programme including Arts
Council England. Northamptonshire Community Foundation and South East Midlands Local Enterprise Partnership.
Public Benefit
NAC is a registered charity and provides a range of public benefits as part of our objectives. These include free and
subsidised access to a range of high quality art exhibitions, creative projects, education workshops and professional
development activities enabling a greater appreciation of arts. skill development, recreation and well being.
In determining these activities. the trustees have regard to the Charity Commission's guidance on public benefit.
The trustees. report was approved by the Board of Trustees.
Mr D J C Danskin
Trustee
19 November 2025

NORTHAMPTON ARTS COLLECTIVE LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF NORTHAMPTON ARTS COLLECTIVE LIMITED
I report to the trustees on my examination of the financial ststements of Northampton Arts Collective Limited (the
Gharitable Gompany) for the year ended 31 MarGh 2025.
Responsibilities and basis of report
As the trustees of the charitable company {and also its directors for the purposes of company law), you are
responsible for the preparation of the financial ststements in accordance with the requirements of the Companies
Act 2006.
Having satisfied myself that the financial statements of the charitable company 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 charitable companys financial ststements carried out under section 145 of the Charities AGt
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 examinerfs statement
I have Gompleted my examination. l Gonfirm that no matters have come to my attention in Gonnection with the
examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charitable company as required by section 386 of the
Companies Act 2006.
the financial statements do not accord with those records- or
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
the financial statements have not been prepared in accordan￿ 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 Goncems and have come across no olher 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.
Cottons Specialist Services Limited
Chestnut Field House
Chestnut Field
Rugby
Warwickshire
CV212PD
United Kingdom
20 November 2025

NORTHAMPTON ARTS COLLECTIVE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Notes
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Other income
991
74.434
511
2.244
6,489
991
146.606
511
2.244
6,489
525
105.234
525
164,541
72.172
59,307
2,608
2,608
Total income
84,669
72.172
156,841
108,367
59,307
167,674
Expenditure on:
Charitable activities
Other expenditure
125.012
247
40,067
68
165,079
315
145.091
195
55,898
840
200,989
1,035
12
Total expenditure
125.259
40,135
165,394
145,286
56,738
202,024
Net incomel(expenditure) and
movement in funds
(40,590)
32,037
(8,553)
(36,919)
2,569
{34,3501
Reconciliation of funds:
Fund balances at 1 April 2024
120.837
30,001
150,838
157.756
27,432
185,188
Fund balances at 31 March
2025
80,247
62.038
142.285
120.837
30,001
150,838
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

NORTHAMPTON ARTS COLLECTIVE LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
14
1.627
1,702
Current assets
Debtors
Cash at bank and in hand
15
8.781
143.661
48,054
137,221
152.442
185.275
Creditors: amounts falling due within
one year
16
{11.784)
(36,1391
Net current assets
140,658
149,136
Total assets less current liabilities
142,285
150,838
The funds of the charitable company
Restricted income funds
Unrestricted funds
17
18
62,038
80,247
30,001
120,837
142,285
150,838
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
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.
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 19 November 2025
Mr D J C Danskin
Trustee
Company registration number 06817424 (England and Wales)
10-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
Charity infomiation
Northampton Arts Collective Limited is a private company limited by guarantee incorporated in England and
Wales. The registered office is 24 Guildhall Road. Northampton. NN1 1DP.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charitable company's Articles of
Association, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" I'FRS 102°) 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)" {effeGtive 1 January 2019). The
charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company 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 charitable company.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements. Ihe trustees have a reasonable expectation Ihat the
charitable company has adequate resources lo continue in operational existence for the foreseeable future.
Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial
statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objeGtives.
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 finanGial statements.
1.4 Income
Income is recognised when the charitable company is legally entitled to it after any performan￿ conditions
have been met, the amounts Gan be measured reliably, and it is probable that income will be received.
1.5 Expenditure
Expenditure is recognised On￿ 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 classified by activity. The costs of each activity are made up of the total of direct costs and
shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity- Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
11

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
1.6 Tangible fixed assets
Individual fixed assets costing £250 or more are capitalised at cost and subsequently depreciated so as to
write off the cost of the assets less their residual values over their useful lives on the following bases..
Fixtures and fittings
Computers
200A reducing balan
250A straight line
The gain or loss arising on the disposal of an asset is determined as the differen￿ between the sale proceeds
and the carying value of the asset. and is recognised in the statement of financial activities.
At each year end the charitable company reviews its fixed assets and if it is thought that the value of the
assets is not recoverable by its future use. provision is made for the impaimients.
1.7 Impairment of fixed assets
Al each reporting end date. the charitable company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impainnent loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts.
1.9 Financial instruments
The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company
becomes paty to the contractual provisions of the inslrument.
Financial assets and liabilities are offset. with the net amounts presenled in the financial statements, when
there is a legally enforceable right lo set off the recognised amounts and there is an intention lo settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised Gost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities Glassified as payable
within one year are not amortised.
Trade creditors are obligations to pay for g(KKls or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
12-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the charitable company's contractual obligations expire or are
discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the pertod in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charitable company is
demonstrably committed to terminate the employment of an employee or to provide tennination benefits.
1.11 Legal status of the charitable company
The charilable company is limited by guarantee and has no share capital. In the event of the charitable
company being wound up, the liability in respect of the guarantee is limited up to £1 per member of the
charitable company.
Critical accounting estimates and judgements
In the application of the charitsble compaTrls accounting policies, the trustees are required to make
judgements. estimates and assumptions about the carying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical experience
and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period. or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donations and legacies
Unrestricted
funds
2025
Unrestricted
funds
2024
Donations and gifts
991
525
13-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from charitable activities
2025
2024
Northamptonshire Community Foundation
University of Northampton
West Northamptonshire Council
Artists, studio rental
Garfield Weston Foundation
Arts Council England
NN Consulting
Access 2 Work
Northampton Town Council
CVAN East Midlands
Click Arts Foundation
Heritage Fund
18,908
8,156
10,000
9,852
5,000
8,200
17,000
15,897
883
61,104
47.300
4.157
5,000
61,104
2,322
90
10,000
2,700
2,000
21,474
146,606
164,541
Analysis by fund
Unrestricted funds
Restricted funds
74,434
72,172
105,234
59,307
146,606
164,541
Income from other trading activities
Unrestricted Unrestricted
funds
funds
2025
2024
Shop inGome
511
Income from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Interest receivable
2,244
2,608
14-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Other income
Unrestricted Unrestricted
funds
funds
2025
2024
HMRC MGETR
6,489
Expenditure on charitable activities
2025
2024
Staff costs
Printing, postage and stationery
IT expenses. phone and broadband
Insurance
Legal and professional
Board, volunteer and meeting expenses
Bank charges
Accountsncy, finance and payroll costs
Rent, rates and electricity
Equipment maintenance
Cleaning, waste disposal. and recycling
Sundry expenses
Marketing
Consultancy
Programme costs
44,044
169
1,667
1,631
257
987
175
509
3,754
587
1,408
152
4,821
52,585
11,785
70,237
279
2.028
1.721
254
1,581
162
3,637
1,254
1,432
1,832
7,692
38,863
32,802
124,531
164,218
Share of governance costs (see note 9)
40,548
36,771
165,079
200,989
Analysis by fund
Unrestricted funds
Restricted funds
125,012
40,067
145,091
55,898
165,079
200,989
15-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs
2025
2024
Overheads
Office costs
Staff costs
1,914
5,880
32,754
2,323
5,322
29.126
40,548
36,771
Analysed between
Charitable activities
40,548
36,771
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charitsble company during the year.
11
Employees
The average monthly number of employees during the year was:
2025
Number
2024
Number
Wages and salaries
Social security Costs
Pension costs
Training and travel
Freelance and consultants
69,774
2,060
1,612
3,352
52,585
89,193
2,823
1,936
5,411
40.809
129,383
140,172
There were no employees whose annual remuneration was more Ihan £60.000.
12 Other expenditure
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Net loss on disposal of
tangible fixed assets
247
315
195
840
1,035
16-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13 Taxation
The charity is exempt from taxaknon on its activities because all ils income is applied for Gharitable purposes.
14 Tangible fixed assets
Fixtures and
fittings
Computers
Total
Cost
At 1 April 2024
Additions
Disposals
2.432
758
339
3.190
339
{1,0551
(1,055)
At 31 March 2025
1,377
1,097
2,474
Depreciation and impaimient
At 1 April 2024
Depreciation charged in the year
Eliminated in respect of disposals
1.340
218
(1,055)
147
197
1,487
415
(1,0551
At 31 March 2025
503
344
Carrying amount
At 31 March 2025
874
753
1.627
At 31 March 2024
1,091
611
1,702
15 Debtors
2025
2024
Amounts falling due within one year:
Other debtors
Prepayments and accrued income
2.945
5.836
42.474
5.580
8,781
48,054
16 Creditors: amounts falling due within one year
2025
2024
Trade creditors
Accruals and deferred income
6,326
5.458
10,959
25.180
11,784
36,139
17-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
17 Restricted funds
The restricted funds of the charity comprtse the unexpended balances of donations and grants held on Irust
subject to specific conditions by donors as to how they may be used.
Movement in funds
Incoming
Resources
Balance at
resources
expended 31 March 2025
Balance at
1 April 2024
Access 2 Work
Click Arts Foundation
CVAN East Midlands
Heritage Fund
NN Consulting & West Northamptonshire Council
Northamptonshire Community Foundation
Northampton Town Council
University of Northampton
90
2.000
2,700
21,474
10,000
18,908
10.000
7.000
(90)
(44)
1,956
2,700
21,474
10,000
11,908
10,000
4.000
20,001
(20,001)
(7,000)
(5,000)
(8,000)
5.000
5.000
30.001
72,172
(40,135)
62,038
18 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 April
2024
Incoming
resources
Resources At 31 March
expended
2025
General funds
120,837
84,669
{125,2591
80,247
Previous year:
At 1 April
2023
Incoming
resources
Resources At 31 March
expended
2024
General funds
157,756
108,367
(145,2861
120,837
19 Analysis of net assets between funds
Unrestricted
funds
2025
Restricted
funds
2025
Total
2025
At 31 March 2025:
Tangible assets
Current assetsl{liabilities)
1.627
78,620
1,627
140,658
62,038
80,247
62,038
142,285
18-

NORTHAMPTON ARTS COLLECTIVE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
19 Analysis of net assets between funds
(Continued)
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Current assetsl(liabilities)
1,702
119,135
1,702
149,136
30,001
120,837
30,001
150,838
20 Related party transactions
There were no disclosable related party transactions during Ihe year (2024 - none).
19-