Company reglstratlon number: 08796019 Charity fe8lStration number: 1162739 South East Arts London Limited known as SEAL IA company limited by 8uaranteel Annual Report and Financial StstemeThts for the Year Ended 30 November 2025 Field &Jllivan Limited 9 Hare & Billet Road Blackheath SE3 OR8 South East Art5 London Limited known as SEAL Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examine¢5 Report 5t06 Statement ol Financial Activities Balance Sheet Notes to the Finantial Statements 9t014 south East Arts London Limited known as SEAL Reference and Administrative Detalls Trustees john Drewitt Lury Earte Frances Felgate Arnanda Francis Nick Haseltine MarkWau8h Reuben Thurnhill Sffretary Charity RegistratJoTh Number 1162739 Comp¥ny Reglstrailon Numbèr 08796019 The charity Is incorporated in Eng13nd and Wales. 140 Lewisham Way London SE14 6PD Reiistered Office Indèpendent Examiner Fleld Sulllvan brnited 9 Hare & Billet Road Blackheath SE3 OR8 Bankers HSBC 47 Rye Lane London SE15 5 Page I sO￿h East Arts London Limited known a5 SEAL Trustees. Report The trustees present the annual report together with the finanoal ststements of the charfty lorthe year ended 30 November 2025. Objectives and a¢tivities Oblects andolms The main objective of the tharity is to prornote educatlon of the pvbllc in Art and appreciation and practice of the Arts. Publk beneft The year endlng in December 2025 was a milestone for SEAL having secured 5ub5tantial fundlng from Architectural Heritage Fund and the Natlonal Lottery Herltage Fund,. towards the strateB]c development and renovation ol the historic Old Deptford Libfary in collaboratlon with Lewisham Arthouse. The lirst phase of the work was realised in the appointment of Focus to lead the project management of the proposed plan of activity., including the appointment of consultants to dellver the design. fundraisin& activlty, engagement and interpretation, archive and evaluation teams. These specialists will be led by the Board and Project Teams developed to utFli5e the expertlse of the Lewisham Arthouse mernbers, The Trustees and latilitated by Focus. Alon8side this major strategic initiative. the final terms for a new long lease from Lewisham Council have proceeded to eoincide with the building works. The programmes of workshops and exhibition5 have contlnued to draw strong posfjtlve responses and In particular the Oeptford X festival partty hosted at Lewisham Arthouse was very Successful. Thè organisation has also completed a lull review of its policie5 and risk management framework. The trustees confirm that they have complied with the requirements of section 17 of the Charities Art 2011 to have due regard to the public benefit guidance published by the Charity Cornmlssion for E￿land and Wales. Yrustees and offlcers The trustees and officer5 serving durinB theyear and since the year end were as foll¢)ws'. Trustees- John Drewitt Luty Earle FraTh￿s Fel8ate Amanda Franci5 Nick Haseltine Ra5na Khanom I l Decernber 20251 M3rk Waugh Seuetary.. Reuben Thurnhill Page 2 South East Arts London Llmlied known as SEAL Tnthees, Report Strwture. governance and management Nutwe olgoveming d¢>cumeftt South East Arts London ISEALI is a company limited by guarantee governed by its Memorandum and Articles of Association dated 29 November 2013. Itwas registered as a charity with the Charity Commission on the 20 July 2015. Recrnltmentond tsppolntment ojtwstees Trustees have been selerted on the b3515 of required 5kn115 including architectuwal. legal. artistic and cultural polides. and activlties. Trustees can nomlnate people to lthn the Board based on deslrable sklljs. ResponsN>llltles The trustees (who are also the dlrectors of South East Arts London timlted for the purposes of company lawl are responsible for preparing the trustees, report and the finantial statements in atcordance with applicable law and Unlted Kingdorn Accounting Standards Iunited Kingdom Generally Accepted Accounting Practi￿1. intluding FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the try5tees to prepare financial statements for eKh finanoal year. Vnder company law the tru5tee5 must not approve the financlal statements unless they are satisfied that they give a true and fair vlew ol the state ol affairs ol the charitable tompany and of the incornin8 resource5 and application of rtsourtes. including its income and expenditure, of the charltable cornpany for that period. In preparlng these financial statements, the trustees are requi￿￿ to.. select suitable ￿CoUnting policies and apply them con515tentty.' observe the methods and prfncSples In the ChaAtSes SORP,. make Judgements and estlmatei that are reasonable and prudent.. State whether applicable accounting standards, compdslng FRS 102 have been followed, subjett to anv material departures disdosed and explained in the financi31 statements.. and prepare the financial statements Orb the going concem basis unless it is inappropriate to presurne ihat the charltable company will continue in buslness. The trustees are responsible for keeping proper accountin8 record5 that can di5c105e wth reasonable accvrKy at any time the financial position of the charitable company and enable them to ensure that the financial statements cornply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the prevention and detectlon of fraud and other rfe8u13rities. The trustees are responsible fe¢ the maintenance and integrity of the torporate and financial information Includèd on the tharitable company's website. Legislatlon governin8 the preparation and dissemination of financial statements may diller from le8151ation in other juri5dictyons. Page 3 South East Arts London Limited known as SEAL Trustees. Report The annual report was approved by the trustees ol the charity on 15 May 2026 and si8ned on its behalf by- John Drewitt Trustee PaBe 4 South East Arts London Limited known a5 SEAL Independent Examiner's Report lo the trustees of south East Arts London Limited ('the Company,) I report to the charity trustee5 on my exarnlnatlon of the actounts of the charity tor the year ended 30 November 2025 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the thariWs tiltstees, as a body* in accordance with secbon 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body. for my work, for thi5 report. or for the opinions I have formed. Responslbllltle5 and basls of report As the charl￿$ trvstees of South East Arts London Limited land also Its dlrettors for the purposes of company lawl you arè resportsible for the preparation of the accounts in accordance with the requirernents of the Companies Act 20061'the 2006 ACYI. HaviTh8 sat15fied myself that the accounts of South East Arts London limited are not required to be audited under Part 16 of the 2006 Art and are eligible for independent examination, I report in respert of my examination tsf your charivs accounts as Carried out under section 145 01 thé Charities Act 20111'the 2011 Acr'l. In carrying out my examinatSon I have followed the DirEction$ 8lven by the Charity CommSsslon under settron 145lSllbl of the 2011 Att. An independent examination does not Snvolve gathering all the 2￿den￿ that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving theif opinion on the financial statements. The planning and tonduci of an audil 8oes beyond the limited assurance that an Independent examination can provide. Consequéntly l express no opinion a5 to whether the financSal statements present a 'true and fairf vlew and my report 15 Ilmited to those specilic matters set out in the independent examSnerfs statement. Indèpendent examlnees ststement I have completed my examSnatlon. I conflrm that no matters have come to my attention in connectlon wlth the examination giving me cause to believe.. l. actountin8 records wwe not kept in respett of South East Arts London knrnitèd as required by sectlon 386 of the 2006 Act.- or 2. the finènelal statements do notaccord with those records,. or 3. the financ¢al statements do not comply with the accounting requirements of sertion 396 of the 2006 Act other than any requirement that the accounts 8ive a 'twe and fair view, which is not a rnatter considered as part of an independent examination,. or 4. the linancial statements have not been prepared in accordance with the methods and prlnciples of the Statement of Recommended Practlce for accounting and reportSng by charities appll¢able to charlties preparin8 their accounts in accordante with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Page 5 South East Arts London Llmlted known as SEAL Independent Examiner's Report to the trustees of South East Arts London Llmlted ('the Company,) I have no concerns and have come across no other matters in connectlon with the examlnatlon to whlch ttentitsn should be drawn in this report in order to enable a proper understsnding of the accDunts to be reached. Tlmothy Sullivan FCA 9 Hare & Billet Road Blackheath SE3 ORB a•July 2026 Page 6 South East Arts London Llmited known a5 SEAL (Registratlon number.. 08796019) Balance Sheet as at 30 November 2025 2025 2024 Note Current assets Cash at bank and in hand 116.342 10,130 Creditors.. Amounts fallln8 due within oneyear 19061 142,8701 Net assetsllllabllltlesl 115,436 132,7401 Funds of the charlty: Unrestrlcted Intome funds Unrestricted funds 115.436 132.7401 Total funds li 115,436 132,7401 For the financial year ending 30 November 2025 the ¢harity was entitled to exemption from audlt under section 477 of the Companies Act 2006 relating to small companies. Dlrectors, responsibilities.. The mèmbers have not required the charlty to obtain an avdit of its accounts for the year In qvestion In accordance with 5értion 476; and The director5 acknowledge their responsibilities for complying with the requirements of the Acl with respect to accounting records and the preparation of atcounts. The finantial statements on pa8e5 7 to 14 were approved by the trustees, and authorised lor issue on 15 May 2026 and signed on their behalf by.. John Drewitt Trustee The note5 Qn pa8es 9 to 14 form an inte8ral part of these financial statements. Page 8 South East Arts London Limited known as SEAL Notes to the Flnan¢lal Statements for the Year Ended 30 November 2025 I Chath 5tstUS The charity is limited by gvarantee, incorporated in En8land and Wales, and consequentty does not have share capltal. Each of the trustees is liable to contribute an amount not exceediTr8 £1 towards the assets of the ¢harity in thè event of liquidation. The address of its registered office Is.. 140 LeW￿haM Way London SE14 6P0 These financial 5tstements were authorised for issue by the Irustees on IS May 2026. 2 Accowntlng polkles Summary of slgnfficarrt acwuntlng pollcles and key accountlng estlmates The principal accountlng policies applied in the preparation of these finan£lal siaternents are set out below. These policies have been cortsistently applied to all the years presented, unless otherwise stated. Statement of compllance The financial statements have been prepared in accordance with Auountin8 and Reportin6 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applieèble in the UK and Republtc of Ireland IFR5 1021 leffective l January 20191 (Charities SORP IFRS 1021 Second edition October 20191. the Finantial Reporting Standard applicable in the Uk and Republic of Ireland IFRS 1021. They also comply with the Compani@s Act 2CKJ6 and Charities Act 2011. Basts of preparatlon South East Arts London Limited meets the defirtition of a public benefft entity under FRS 102. Assets and liabilities a￿ initially ￿(oBniSed at historical cost or transaction value unless otherwise ststed in the relevant attounting policy notes. Extmptlon from preparln8 a cash flow statèmènt The charty opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included cash flow statement in these financial ststements. Page 9 South East Arts London Llmited known as SEAL Notes to the Financial Ststements for the Year Ended 30 November 2025 Jud8ements and key sources of estirnation uncertalnty In the application of the IharlWs accounting policies, the directos are required to make judgements, estimate5 and assumptions about the carrying amount ol assets and liabilities that are not readity apparent from other sources. The estlrnates and associated 45SUmPtions are based on historical experSence and other fattors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised Whe￿ revisions affects only that period. or in the perlod of the revision and future periods where the revisions affetts both current and future perlods. Expènditsrè Uabllitles are recognised a5 SOQn 35 there Is a le8al or construttive oblSgation committlng the charlty to the expenditure. All expenditure Is accounted for on accruals basis and has been dassified under heading5 that aggregate all costs related to the category. R#islniAunds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading actwities that raise funds. Charitqble gttlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and sèNites for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary tQ 5UPPOrt them. Gmntpmvisiorts Provisions for grants are made when the intention to make a grant has beeft ¢ommunlcated to the recipient but there 15 Un￿rtaInty about either the timing of the 8rant orthe amount of grant payable. Taxatlon Thè charlty is considered to pass the tests set out In Paragraph I khedule 6 of the finance Act 2010 and therefore it mÈèts the definition ol a chantable company for UK corporation tax purpose5. Accordinglyp the charity is potentially exempt from taxation in respect of incorne or capital Eains re￿iVed within categories covered by Chapter 3 Part 11 ol the Corporation Tax Act 2010 or Sertion 256 of the Taxation of Chargeable Gain5 Act 1992, to the Èxtent that such income or 6ains are applled exclusive￿ to charftable purposes. Cash and cash equlvalents Cash ond cash equivalents include cash In hand, deposlts held at call wlth banks, other 5hcrt.term liqtjid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are Shown within borrowin8s IA current liabilities. Pa8e 10 South East Arts London Limlted known as SEAL Notes to the Flnanclal Statements for the Year Ended 30 November 2025 Trade credltors Trade creditor5 are retognised InitSally at the transaction price and 5ub5equently measU￿d at arnortised c05t using the effertive interest method. Short term trade creditors are measured at the transaction price. Other finan¢ial liabilltles, Includln8 bank loans, are Measured initially at fair value, nèt of transaction costs, and are measured subsequently at arnortised cost Uslng the effettlve interest method. Fund strurture Unrestrfcted Income funds are general funds that a￿ avallable for use at the trustees discretion in furtherance of the objettives of the tharity. 3 In¢omefrom donatlonsand legades Unreslrirted fvnds General Total 202S Oonations and legaties- Donations from individuals Lewisham Art House 639 639 167,000 167,000 167,639 167,639 4 ExpendSture on raising fund5 al Costs of generating donationsand leBacies Total 2025 Totsl 2024 Fundraising costs 350 7.787 Page 11 South East Arts London Llmlted known as SEAL Notes to the Financial Statements for the Year Ended 30 November 2025 5 Expendlture on charltable acli¥ities Total 2025 Total 2024 Exhibitions Recruitment 113 Trade subscrlptlons Customer entertaining Idisallowable lor tsxl Independent examination Legal and professional Bank charge5 Grant fundin8 of activities 906 870 16,440 40 11,926 73 990 19,113 13,859 6 Grant-maklng Analysi5 of grants Grants to Institutions Analysls Graduate Award Exhlbltlon 990 7 Trustses femuneration znd expenses No trustees. nor any persons connerted with them. have received any remuneratlon from the charity durSng the year. No trustees have receNed any relmbursed expen5e5 or any other beneflts from the charity during the year. 8 Taxatlon The charity is a re8lStered charity and is therefore exempt from tsxation. Page 12 South East Arts London Llmlted known a5 SEAL Notes to the Financial Statements for the Year Ended 30 November 2025 9 Credltors: amount5 falling due within one year 2025 2024 Other treditors Accruals 42.OLhJ 870 9(6 906 42,870 10 Related party transactlon5 Durin8 the year the charity made the following related party transactions- Lewlsham Art House Llmlted IAs50ciated charlty I Durin8 the period Lewisham Art House paid £125.OCk)12024.. £6.(￿￿)} to fund the company. Thi5 amount was donated to the SEAL alon8 Wlth any oustandinB amounts due to Lewisham Art House. At the balance sheet date the amount due tolfrom to LÈwisham Art House Limited was £Nil12024- £42.CO)I. 11 Funds Balance at 30 November 2025 Balancè at I December 2024 Incomlng resour¢es Resour expended Unrestrkted Genernl General Funds 132,7401 167.639 119.4631 115,436 Balance at30 November 2024 Balante at I De￿rnber 2023 Re5ourre5 expended Unrestrlcted Gener(wl General Funds 111,¢)J41 121.6461 132.7401 Page 13 South East Arts London Limited known as SEAL Notes to the Financial Ststements forthe Year Ended 30 November 2025 IZ Analy￿$ of net assets between funds ilnrestrlcted Total funds 2025 Genwal Current assets 116.342 19061 116,342 19061 Current liablliti Totsl net asset511liabilitie51 115.436 115.436 Unrestrkted Total funds 2024 General Current assets Current Ilabllitles 10.130 142,8701 10,130 142.8701 Total net assetsll15abilitie51 132,7401 132.7401 Page 14