Sydenham Arts Limited
Directors’ Report and Financial Statements
For the year ended 31 March 2025
Company information
| DIRECTORS | Stephanie Wilson |
|---|---|
| Colleen Batson | |
| Felicity Clark | |
| Vanessa Croan | |
| Jacques Launay | |
| Helen Manley | |
| Jemilla Olufeko | |
| Ioanna Papageorgiou | |
| Nitesh Patel | |
| Will Rathbone | |
| Rachel Scott |
| REGISTERED OFFICE | The Sydenham Centre |
|---|---|
| 44a Sydenham Road | |
| Sydenham | |
| London | |
| SE26 5QX | |
| REGISTERED NUMBER | 06835122 (England and Wales) |
| REGISTERED CHARITY | 1161590 (England and Wales) |
| BANKERS | Barclays Bank PLC |
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Sydenham Arts Limited
Year ended 31 March 2025
| **Year ended 31 March 2025 ** | |
|---|---|
| Index | Pages |
| Report of the Directors | 2-4 |
| Independent examiner’s report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8-10 |
Report of the Directors
The Directors present their report with the financial statements of the company for the year ended 31 March 2025.
PRINCIPAL ACTIVITY
The objects of the company as set out in its Memorandum of Association are to provide, promote, and advance the arts for the benefit of the public, in particular people who live, work and are educated in Sydenham and the surrounding areas.
DIRECTORS
The Directors during the year and at the date of this report are as follows: Jemilla Olufeko (chair to 30 June 2025) Stephanie Wilson (chair from 30 June 2025) Colleen Batson (appointed 20 May 2024) Felicity Clark (appointed 20 May 2024) Vanessa Croan (appointed 3 September 2024) Jacques Launay (appointed 3 September 2024) Helen Manley Ioanna Papageorgiou Nitesh Patel Will Rathbone (appointed 20 May 2024) Rachel Scott
Simon Betts served as a director throughout the year and resigned on 8 May 2025.
New Directors are selected by consensus among the existing Directors with regard to the range of skills, experience and backgrounds that they can add to the Board.
CHARITY GOVERNANCE CODE
The Directors have considered the Charity Governance Principles Code for smaller charities issued 13 July 2017 and confirm that they have complied with the seven elements insofar as they are applicable to Sydenham Arts. The company is led by an effective Board that is clear about the company’s aims and provides leadership to ensure they are being delivered. The Board acts with integrity and leads the company in being transparent and open. The Board works as an effective team with an appropriate balance of skills and experience to ensure its decisions are informed and timely, with delegation, control and risk assessment set up and monitored. The company seeks diversity in the composition of its Board, and in its performers and audiences.
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Sydenham Arts Limited
Year ended 31 March 2025
Report of the Directors (continued)
REVIEW OF BUSINESS
The Directors have met at regular intervals during the period in order to conduct the business of the company.
Sydenham Arts Festival was incorporated on 3 March 2009 and produced a summer festival every year from 2009 to 2018. On 16 October 2014 the company shortened its name from “Sydenham Arts Festival Limited” and on 24 November 2014 became a registered charity, adopting new Articles. In 2019, Sydenham Arts moved to year-round programming reflecting and addressing a wider range of community interests through the arts, as well as bringing Sydenham Film Club under our umbrella to deliver monthly films.
In the year under review Sydenham Arts range of programming and activity was restricted by grant applications being unsuccessful and changes in personnel requiring time to build partner relationships and develop projects. The programme, Street SmART focussing on urban safety awareness continued until July 2024 funded by Lewisham NCIL money. The Artists Trail in September 2024 continued to impress in the range and quality of the exhibits. The monthly films provided an eclectic selection and the Winter Welcome again provided free warmth, refreshments and arts led by local artists. The Moving with Parkinson’s programme was able to continue throughout the year supported by generous individual donations.
The company also gratefully acknowledges the continuing support it receives from its commercial sponsors, Property World, Sydenham Society, from its monthly individual donors and from the local community including through the inaugural fundraiser event in March 2025.
Directors’ meetings are being held quarterly, with the directors also actively involved in running events.
It is impractical to record attendance and participation during the year, because as well as those registrants and physical attendees of events, many more viewed live and recorded videos online. That said, the charity has increased its focus on monitoring and engaging with participants and measuring the impact of our programmes.
The Directors consider that the range of events the objects of the company as being for the general public benefit, with regard to the Charity Commission’s guidance thereon.
The attached financial statements show total income £40,800 (2024: £43,097). Income is dependent upon the success of grant applications, which becomes increasingly harder in the current economic climate.
Fundraising continues to be directed towards both covering core costs that provide a stable platform for building an enriched arts programme in line with the objective of holding events throughout the year, and funding for a variety of programmes.
Donations in kind came from local residents who gave their professional expertise in design, marketing and promotion, accountancy and health and safety. There was also a brigade of local residents who volunteered to assist at events in a variety of capacities.
The future programme is continually under review, maintaining consistently high standards for the quality, diversity and appreciation of events.
£12,661 (2024: £17,034) is carried forward which can be applied to any activity within our charitable objectives.
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Year ended 31 March 2025
Sydenham Arts Limited
Report of the Directors (continued)
COMMUNICATION WITH SUPPORTERS
Previous redesign of our website has continued to improve communication with the local community, and the company recognises that social media provides a dynamic external platform. A working group focussed on communications, resident engagement and marketing was initiated in 2024 to improve strategic communications with audiences, partners and supporters and a review of the website is currently underway to ensure maximum impact. The staff team has been reshaped with an emphasis on audience development and marketing.
RISK
As well as undertaking a risk assessment before each physical event, the Board carried out a risk assessment for the charity as a whole at a Board Away Day in December 2024. The Board continues to review and update the company’s policies and procedures to ensure that they remain fit for the purpose of identifying and reducing the company’s exposure to operating, financial and other risks.
CONSTITUTION
Sydenham Arts Limited is a company limited by guarantee and has no shareholders. It is registered in England and Wales, company number 06835122. The governing document of the company is its Memorandum and Articles of Association. The company is also a registered charity in England and Wales, number 1161590.
Stephanie Wilson
Chair
11 September 2025
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Sydenham Arts Limited
Year ended 31 March 2025
Independent examiner’s report to the Trustees/Directors of Sydenham Arts Limited, a charitable company number 1161590
I report on the accounts of the company for the year to 31 March 2025, which are set out on pages 6 to 10.
Respective responsibilities of Trustees and examiner
The Trustees (who are also the Directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility:
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To examine the accounts under section 145 of the 2011 Act;
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To follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
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To state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to the matters set out in the next statement.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 386 of the Companies Act 2006; and
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to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met: or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
M Brooks FCA 12 Princethorpe Road London SE26 4PF 11 September 2025
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Sydenham Arts Limited
Statement of Financial Activities For the year ended 31 March 2025
| 2025 2025 Restricted Unrestricted funds funds Notes £ £ Income from Grants 4,450 - Donations 3,908 14,348 _ _ Total grants and donations 8,358 14,348 Charitable activities 17,035 814 Investment income – bank interest - 245 _ _ Total income 25,393 15,407 _ _ Direct cost of charitable activities 16,467 - Administrative expenses 8,926 19,780 _ _ Total cost of charitable activities 25,393 19,780 _ _ Net (deficit) / excess of income over expenses 2 - (4,373) __ _ Tax 4 Net (deficit) / excess of income over expenses after tax 7 |
2025 2024 Total Total £ £ 4,450 21,132 18,256 8,371 _ _ 22,706 29,503 17,849 13,436 245 157 _ _ 40,800 43,096 _ _ 16,467 25,079 28,706 23,953 _ _ 45,173 49,032 _ _ (4,373) (5,936) - - __ __ (4,373) (5,936) |
|---|---|
All amounts above are derived from continuing activities.
The notes on pages 8 to 10 form part of these financial statements.
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Sydenham Arts Limited
Balance Sheet
31 March 2025
| Notes CURRENT ASSETS Debtors 5 Cash at bank and in hand CREDITORS Amounts falling due within one year 6 TOTAL ASSETS LESS CURRENT LIABILITIES THE FUNDS OF THE CHARITY Unrestricted funds 7 |
2025 £ 534 18,299 __ 18,833 6,172 _ 12,661 _ 12,661 |
2024 £ 909 25,919 ____ 26,828 9.794 __ 17,034 ______ 17,034 |
|---|---|---|
For the year ended 31 March 2025, the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to smaller companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board of Directors on 11 September 2025 and were signed on its behalf by
Stephanie Wilson Chair
The notes on pages 8 to 10 form part of these financial statements.
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Sydenham Arts Limited
Notes to the Financial Statements
For the year ended 31 March 2025
1. ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP FRS 102), applicable accounting standards and company law.
Going Concern
The accounts have been prepared on a going concern basis on the premise that grants continue to be awarded to allow it to carry out its objectives.
Public Benefit
The company is a public benefit entity to promote, maintain and advance education, by the encouragement of the arts and to develop new and existing opportunities for local residents and visitors to the area in order that they may experience the arts through active and passive participation.
Turnover
Turnover represents grant funding received, together with localised sponsorship and donations. Other income is also received from box office and ticket sales generated from various events. Further income is generated from the sale of publicity and marketing space within flyers and brochures.
Grant funding received can be in the form of general funding and restricted funding. Any restricted funding which has not been spent at the year-end will be recorded in the balance sheet and carried forward to later periods.
Donations are treated as income at the time of receipt, unless they are specifically to cover a future expense.
Reserves
The Directors consider it prudent that unrestricted reserves are kept at a level sufficient to cover core costs for six months.
2. OPERATING PROFIT
The operating profit is stated after charging:
| Directors’ remuneration and benefits Fee for independent examination of the accounts |
2025 £ - - |
2024 £ - - |
|---|---|---|
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Sydenham Arts Limited
Notes to the Financial Statements (continued) For the year ended 31 March 2025
3. STAFF COSTS AND NUMBERS
| Gross pay Employer’s NI contributions Employer’s NI contributions prior year relief Employer’s pension contributions |
2025 £ 29,393 - - 452 __ 29,845 |
2024 £ 32,155 - (1,133) 530 __ 31,552 |
|---|---|---|
During the year there were 3 core staff (2024: 3) each engaged on contracts for periods of at least six months. Other staff are engaged for specific events. The number of staff paid in excess of £60,000 was none (2024: none).
4. TAXATION
The company is a registered charity. None of its sources of income is taxable.
| 5. DEBTORS 2025 £ Prepayments and accrued income 534 _ 6. CREDITORS : AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 £ Grants received for future activities - Income received in advance - Accrued expenses 6,172 _ 6,172 |
2024 £ 909 _ 2024 £ 3,000 1,875 4,919 _ 9,794 |
|---|---|
Grants received for future activities include restricted income grant funding not spent at the balance sheet date £nil (2024: £3,000).
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Sydenham Arts Limited
Notes to the Financial Statements (continued) For the year ended 31 March 2025
7. FUNDS OF THE CHARITY
| Restricted income funds Unrestricted funds Total |
1 Apr 24 £ - 17,034 __ 17,034 |
Income £ 25,393 15,407 __ 40,800 |
Expenses 31 Mar 25 £ £ 25,393 - 19,780 12,661 _ _ 45,173 12,661 |
|---|---|---|---|
The restricted income funds are not considered material enough to be shown individually. The restricted income funds not spent at the balance sheet date are recorded as creditors in note 6 to be spent in later periods. The unrestricted funds of the charity are retained to meet the costs of future activities and are not distributable to members.
8. COMPANY STATUS
The company is limited by guarantee without having a share capital. The number of members is not limited. At 31 March 2025 there were twelve members (2024: seven members).
9. RELATED PARTY TRANSACTIONS
S Betts exhibited in the Artists Trail without being asked to pay an entry fee. Otherwise, none of the current Directors received any remuneration or reimbursement of expenses during the year. There were no other transactions required to be reported with the Directors or with parties related to them.
10. GOING CONCERN
In common with many small charities, the income that the Company needs to continue its operations had not been fully secured at the balance sheet date. The values of assets and liabilities in the balance sheet would not be affected were an alternative method of valuation to be required.
11. CONTINGENT LIABILITIES
The rental agreement for the company’s office at the Sydenham Centre has a six month notice period. At the current rent this would amount to £1,210. The company also has contracts to August 2025 with BT and to September 2025 with EE, early termination of which would incur charges of £240 and £141 respectively at the balance sheet date.
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Sydenham Arts Limited
Trading and Profit and Loss Account For the year ended 31 March 2025
| 2025 | 2025 | 2024 | 2024 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Turnover | ||||
| Box Office and ticket sales | 3,832 | 1,776 | ||
| Refreshment sales at events | 2,016 | 1,104 | ||
| Visual Arts | 4,540 | 4,885 | ||
| Grant funding | 4,450 | 21,132 | ||
| Advertising and sponsorship | 6,208 | 5,100 | ||
| Donations, including Gift Aid | 18,256 | 8,371 | ||
| Other income | 1,498 | 727 | ||
| __ | 40,800 | __ | 43,095 | |
| Cost of Sales | ||||
| Performers’ costs | 3,425 | 6,051 | ||
| Event technical costs | 2,265 | 1,820 | ||
| Venue hire | 619 | 1,670 | ||
| Costs of refreshment sales | 720 | 439 | ||
| Marketing | 2,545 | 1,280 | ||
| Booking charges | 317 | 166 | ||
| Event specific personnel | 6,576 | 13,653 | ||
| __ | 16,467 | __ | 25,079 | |
| __ | __ | |||
| GROSS PROFIT | 24,333 | 18,016 | ||
| Expenditure | ||||
| Administration personnel | 23,269 | 17,899 | ||
| Technical and marketing (non-specific) | - | 40 | ||
| Insurance | 542 | 501 | ||
| Bank charges | 74 | 103 | ||
| Office costs | 4,821 | 5,409 | ||
| __ | 28,706 | __ | 23,952 | |
| __ | __ | |||
| (DEFICIT) / EXCESS OF INCOME OVER | ||||
| EXPENDITURE | (4,373) | (5,936) | ||
| __ | __ |
This page does not form part of the statutory financial statements.
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