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2025-04-30-accounts

The Muse at 269

Trustees’ Annual Report for the period

From 1[st] May 2024 To 30[th] April 2025

Structure, Governance and Management

The Muse is a registered charitable company limited by guarantee. It is governed by its Memorandum and Articles of Association and Incorporated on 25th April 2015. The registered Company number is 09561179 and the charity number is 1162300.

The Trustees who served in the year were:

Damian Rayne James McCarthy The Hon. Robert Rayne Vicky Caplin Malgorzata Joanna Lapsa-Malawska (Appointed 1st June 2024)

The same Trustees were also Directors and members of the company and Damian Rayne also serves as Company Secretary.

The selection and appointment of Trustees is conducted using criteria which considers the knowledge and skills they would bring to meet the charitable purposes of The Muse. Should new Trustees be appointed, name would be proposed and any appointment then made upon the Board’s approval. New Trustees will have an induction to ensure they meet their statutory obligations as well as understanding the focus of The Muse. No new Trustee was appointed during the year. There is no Trustee remuneration policy as no Trustee receives any remuneration for being a Trustee. The Trustees are volunteers in their role as Trustees, but The Muse does not otherwise rely on the work of other volunteers.

The Hon Robert Rayne, Damian Rayne, James McCarthy and Vicky Caplin continue to be Trustees. Malgorzata Joanna Lapsa-Malawska was appointed 1st June 2024. Damian Rayne continues to be responsible for the day to day running of The Muse.

The Trustees responsibilities include the setting of policy and strategy and are advised on finance, investment and risk mitigation.

The Muse continued to ensure it was updated on recommended guidance from the Charity Commission regarding safeguarding when organising events and shows.

Objectives and Activities

The Charity’s mandate, as determined by the Trustees, is as follows:

  1. To support emerging artists by combining; commercial and creative elements under one roof.

    1. To provide free studio space for a limited time to graduate artists, committed to continuing as professionals.

  3. To provide a subsidised local arts space in perpetuity, one that uses property as an in-house funding stream to support community arts and education.

  4. To generate sufficient income to financially support freelance artists and associates working on behalf of the charity, in exchange for services provided.

  5. To work under the umbrella of ‘The Muse UK Charity for the Arts’ to increase funding eligibility for artists and associates.

  6. To sustain opportunities based on commitment and ideas first.

  7. To work with local authority to promote arts in West London through event and community

The Charity has organised and supported various events and shows in the financial year, a list of some are below:-

Public Benefit

The Trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charities Commission for England and Wales. The charity provides public benefit through partnerships, residencies and events which contribute to the needs of local communities and society. This covers both proactive and reactive events and shows during the year.

Achievements and Performance

A summary of the key achievements of the charity this year are listed below:-

The Portobello Dance and Performing Arts School

The Muse is a proud partner of our local dance and performing arts school. The school was founded thirty years ago this year, by Mark Elie a local dancer and alumni of ballet Rambert and Dance school of Harlem. Spencer Murray, now head of operations, leads the way in 2023 with a clear strategy reflecting the original manifesto of supporting diversity in dance and providing high level subsidised education to low-income families in North Kensington.

The Muse Residency Programme

Since 2004 The Muse / Gallery & Studio has supported a residency program, offering recent graduates subsidised studio space, a gallery to show and the means to cultivate both client and industry connections.

Each year we host a group competition show, awarding the residency positions to a few successful artists; we appeal to all disciplines, with a BA minimum qualification from the previous two years. Artwork is then reviewed by our panel of esteemed industry professionals, curators and collectors, with an emphasis on professionalism from the onset.

WWW.THEMUSETHEATRE.LONDON

This was created to provide a platform of subsidised space that allows, actors, writers and directors to showcase new material to audiences and industry with little or no financial liability.

We are happy to continue to work with emerging talent within theatre and film, supporting workshops and new material created in-house by The Muse Group Theatre Co.

Financial Review

The charity had income for the year of £38,500 (2024: 38,398) which derived from art work sold, events, donations and income from investments. It has made a positive growth in sales due to the level of activity in the year.

During the year the late Jane Rayne (former Trustee), donated £500,000 to The Muse at 269 to be used to support the objectives of the charity.

The Director and Trustee, Damian Rayne, a loan balance of £5,867 as at 30th April 2025 (2024: £166,184). Mr Rayne intends to continue to provide finance support to the company for the foreseeable future and he will not seek for the loan to be repaid until the charity can afford to repay the loan.

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Damian Rayne

Date 8th December 2025

Registered number 09561179

The Muse at 269

Report and Accounts

30 April 2025

The Muse at 269

Registered number: 09561179 Directors' Report

The directors present their report and accounts for the period ended 30 April 2025.

Principal activities

The company is a registered Charity (number 1162300) and its aim is the advancement of the Arts through the provision of education and resources. The company is limited by guarantee.

Directors

The following persons served as directors during the period:

Damian R Rayne Robert A Rayne James McCarthy Victoria Caplin Malgorzata Joanna Lapsa-Malawska (Appointed 1[st] June 2024)

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on ……1[st] December 2025… and signed on its behalf.

Damian Rayne Director

1

The Muse at 269

Income and Expenditure Account for the period from 1 May 2024 to 30 April 2025

Notes
2025
£
General Income
Legacy Income
40,050
500,000
540,050


Cost of sales
(11,481)
Gross profit
528,569
Expenses on Raising Funds
Expenses on Charitable Activities
(1,756)
(371,970)

Operating Profit
154,843
(
Investment Gain/Loss
Net Movement in Funds
(1,415)
153,427		 2024
£
38,398
38,398
(20,911)
17,487
(1,745)
(192,438)
176,696)
(91,090)
(267,786

2

The Muse at 269

Balance Sheet as at 30 April 2025

Fixed Assets
Investments
Current assets
Notes


Debtors
2
20,731
Investment Cash
3,440
Cash at bank and in hand
43,895
68,066
Creditors: amounts falling due
within one year
3
(17,880)
Net current assets
Total assets less current
Liabilities
Creditors: amounts falling due
after more than one year
4
Net liabilities

Funds of the charity
Unrestricted funds
5
 2025
£
287,473



50,186
337,659
(5,867)
331,792
331,792		 1,949
30,191



11,000
17,242
(4,013)


(		 2024
£
318,370
26,178
344,548
166,184)
178,364
178,364

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Damian Rayne Director Approved by the board on 1[st] December 2025

3

09561179

The Muse at 269

Notes to the Accounts

for the period from 1 May 2024 to 30 April 2025

1 Accounting policies

Basis of preparation and Going Concern

The accounts have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) effective 1 January 2015. The accounts have also been prepared under the Going Concern principle, which assumes that the company will be able to meet its obligations as and when they become payable. Mr D R Rayne has indicated that he intends to continue to provide financial support to the company for the foreseeable future.

Turnover

Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

2
Debtors
Trade debtors
3
Creditors: amounts falling due within one year
Trade creditors
Other creditors
4
Creditors: amounts falling due after one year
Other creditors
2025
£
20,731
2025
£
(13,857)
(4,023)
(17,880)
2025
£
(5,867)		 2024
£
11,000
2024
£
-
(4,013)

(4,013)
2024
£
(166,184)
(4,013)

6 The company is a registered charity and is limited by guarantee

7 Going concern and related party transactions

Damian R Rayne had loaned the company £5,867 at 30 April 2025. Mr Rayne has indicated that he intends to continue to provide financial support to the company for the foreseeable future.and he will not ask for the loan to be repaid until the company can afford to repay the loan out of surplus income.

5

The Muse at 269

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/
members of
On accounts for the year
ended
Set out on pages		 Charity Name
The Muse at 269		 Charity Name
The Muse at 269		 Charity Name
The Muse at 269
30thApril 2025 Charity no
(if any)		 1162300
(remember to include the page numbers of additional sheets)

Respective The charity's trustees are responsible for the preparation of the accounts. responsibilities of The charity’s trustees consider that an audit is not required for this year trustees and examiner under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Independent In connection with my examination, no material matters have come to my examiner's statement attention which gives me cause to believe that in, any material respect:

I have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

. .
Signed:
Name:
Relevant professional
qualification(s) or body
(if any):
Address:

 01/12/2025
Ragini Majithia
Chartered Management Accountant (ACMA CGMA)
62 Harts Grove
Woodford
London, IG8 0BN

1

IER

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

2

IER