Charity number: 1169683
Company number: 10231860
(England and Wales)
Matt's Gallery Llmlted
Report of the Trusts•s and Unaudlted Flnanclal Statemonts
For tlje yèar endèd 31 March 2026

Matvs Gallery Limited
Contents Page.
For the year ended 31 March 2025
Report of the Trustees
1to8
Indep8ndent Examineff8 Report lo the Trustees
Statement of FlnancSal Activiti08
10
Statement of Flnènclal P0811ion
11
Notss to the Financlal Statements
12to21

Matt's Gallery Limlted
Report of the Trustses
For the year ended 31 March 2025
The Truslees, who are also diredors for the purposes of company law, have pbasure in presenting I￿1r report and the
finanGial statements for the charitable company for the year ended 31 March 2025. The Trustees have adopted the
provisions of Auxounling and ReportiThJ by Charibes.. StaterrÈnt of Recommended Practice applicab18 to charities preparing
their accounts in accordance with the Financial ReForting Standard applicable in the UK and the Republic of Ireland IFRS
102) (effective 1 January 2019).

MATt'S GALLERY LIMITED
Report of the Board of Trustees
Year to 31° March 2025
OUR AIMS AND OBJECTIVES
Pur
oses and Aims
Our charity's purposes as set out in the objects contained in the company's
memorandum of association are to:
For the public benefit, to
Promote and advance the visual contemporary arts in
particular but not exclusively by
a) Promoting and exhibiting works of artistic excellence,
b) Commissioning the creation of works of artistic meriL and
c) Providing gallery and studio space and other facilities for the creation and public
display of work
Advance education in the visual contemporary arts in
particular but not exclusively by
a) Providing lectures, seminars, practical courses and publications,
b) Providing facilities and resources for artists, art historians. art critics, students
and the general public, and
c) Cultivating and improving practical and theoretical literacy
For the purposes of these objects, "visual contemporary arts" includes but is not limited
to sculpture, photography, painting, perforniance, installation, film and video.
The charity aims to provide artists with the time, space and support they need in order
to take risks and produce their best work. We aim to maintain a vitsl and distinctive
collaborative approach to working with artists, acting as an essential thinking space
away from the pressures of the commercial environment. W¢ aim to be an open and
approachable space for our audiences, providing exhibitions of the highest quality and
reaching out to students of the arts. Our aims fully reflect the purposes that the charity
was set up to further.
Ensurin
our work delivers our aims
We review our aims. objectives and activities each year. This review looks at what we
achieved and the outcomes of our work in the previous 12 months. The review looks
at the success of each key activity and the benefits they have brought to those groups
of people we are set up to help. The review also helps us ensure our aims, objectives
and activities remained focused on our stated purposes. We have referred to the
guidance contained in the Charity Commission's general guidance on public benefit
when reviewing our aims and objectives and in planning our future activities. In
particular, the trustees considcr how planned activities will contribute to the aims and
objectives they have set.

MA￿'s GALLERY LtMITED
Report of the Board of Thistees
Year to 31. March 2025
The focus of our work
The main objective for the year continued to be the commissioning and exhibition of
new work and generating education programmes around those works.
The strategies we used to meet these objectives included:
Providing access to mentoring, high qual ity exhibition spaces and resources to artists
at key points in their careers.
Providing residencies and access to studio space for artists.
Creating publications. resources and educational materials around our exhibition and
residency programmes.
Hosting free and accessible introductions, talks and discussions for higher education
students and the general public.
How our activities deliver
ublie benefit
Matt's Gallery is committed to creating opportunities for artists to push the boundaries
of their practice. Key to this is providing the space, support and resources required for
artists at all stages in their careers to create ambitious new works. Matt's Gallery exists
to significantly impact and promote visual culture within the UK and internationally..
We present exhibitions of high quality visual contemporary arts in free and accessible
spaces.
Alongside and during exhibitions the Gallery's Director Robin Klassnik facilitates talks
and discussions for visiting Higher and Further Education groups.
Matt's Gallery is working towards making its extensive archive accessible to the public.
The trustees have considered the Charity Commission's guidance on public benefit,
including the guidance 'public benefit: running a charity (PB2)'.
ACHIEVEMENTS AND PERFORMANCE
Significant activities
i)
Promoting and advancing the visual contemporary arts
Our year began with an ambitious exhibition by Harniinder Judge, developed in
partnership with neighbouring gallery The Sunday Painter and supported by the Henry
Moore Foundation. The exhibition allowed Judge to reconnect with dorn]ant aspects of
his artistic practice through a spectacular opening night perfonnance and develop work
at a scale and level of ambition he had not previously been able to. At the end of May
we launched the a series of four highly successful events guest-curated by A-__Z,
introducing new practices to the gallery and drawing in new diverse audiences. Other
live events over the year included a reading and publication launch with Katherine
Meynell, poetry and perfornian¢es convened by E Scourti and a book launch by Kirsten
Cooke, in partnership with Melanie Jackson's Poor House Reading Room. In October
we launched an exhibition by Willie Doherty, who has worked with the gallery since
1990, with support from Culture Ireland and a private philanthropic donor. This was

MATT'S GALLERY LIMITED
Report of the Board of Th
Year to 315t March 2025
followed by Katie Cuddon's first exhibition at the gallery in January alongside an
archival display of Tony White's publishing project Piece of Paper Press.
These projects attracted a live audience totalling 5.609 over the year, including 475
students in organised university visits.
Matt's Gallery delivered three projects through its online platforni 'MattFlix', attracting
around 1,000 viewers over the year. Artists featured included Richard Grayson,
Katherine Meynell and Sarah Dobai.
2)
Advancing education in the visual eontemporary arts
Publishing continued to be a major part of the gallery's educational output. Four
editions of the ongoing 'Q' series of artist interviews conduct¢d by our D¢puty Director
were published.
The gallery's Stanley Picker Train¢eship continued, giving professional development
opportunities to young people seeking to build a career in the contemporary visual arts
sector. Shireen McCorn]ack completed her traineeship, with Kati¢ Gabra commencing
hers. The traineeship continues to focus on providing opportunities to candidates from
Black. Asian and ethnically diverse backgrounds, who are underrepresented in the arts.
Financial Review
Significant events
The charity, with the aid of sound financial management and the support of its staff and
Trustees, generated a positive financial outcome for the period. Income this year was
£371,115, compared to £277,829 in 2023124. The tangible fixed asset value of
£522,258 reflects the amount invested in our building, depreciating year by year since
in completion in the 2022123 financial year.
Note 7 shows costs of charitable activities against 'Advancement o! visual
contemporary arts, at £89,247 compared to £40,240 in 2024 as some pre-production
against our 2025 proj¢¢t with Mich¢ll¢ Williams Gamaker was undertaken in 2024125.
The gallery's rent increased to £13,368 from £1 0,000 per annum. This rent is reviewed
every five years in line with inflation.
Princi
al Fundin
Sources
The principal funding sources forthe charity are currently by way of grant income from
Arts Council England and the Stanley Picker Trust, supplemented by income from
organisations working in partnership on commissions. sales of artworks, editions and
books, room hires, studio lets, and donations from individuals.
Matt's Gallery received £156,207 towards its core revenue costs as an Arts Council
England National Portfolio Organisation. A grant from the Stanley Picker Trust
(£9,840) was received towards our traineeship programmes, alongside grants from
Cockayne Foundation (£20,000), Culture Ireland (£2,448) and Henry Moore
Foundation (2 x £5,000). Other income was received by way of grants transferred from
Fiona Crisp (£12,200), Michelle Williams Gamaker (£5,400) and Offline, Glasgow
(£7,500).

MATT'S GALLERY LIM￿ED
Report of the Board of Th￿tee8
Year to 31SI March 2025
Matt's Gallery raised additional income through rental of space hires (£33,250 from
studio hire, and £2,311 in other hires), sales of artworks (£66.583), sales of artistic
editions (£1,992) and sales of books (£3,926).
Fundraisin
Statement
Fundraising at Matt's Gallery is led by Deputy Director Tim Dixon. The gallery raises
funds from individuals, trust and foundations and businesses. No fundraising-related
complaints were received in the period. Matt's Gallery has not engaged any external
partners or fundraising agencies to carry out fundraising on its behalf during this
reporting period. The Gallery has created a fundraising committee to support the
Deputy Director. We do not engage in fundraising activities that would place
vulnerable people at risk.
Investment Poli
Asid¢ from retaining a prudent amount in reserves each year most of the charity's funds
are to be spent in the short tenn.
Reserves Poli
The Board of Trustees has examined the charity's requirements for reserves in light of
the main risks to the organisation. It has established a policy whereby the unrestricted
funds not committed or invested in tangible fixed assets held by the charity should
represent the cost of winding down the business over three months, including overhead
expenditure, noticed periods and redundancy pay. On our current operational model,
we have calculated this amount to be £66,500. This target is reviewed annually.
st
Over 2024125 the gallery increased its reserves by £4,451, which at 31 March 2025
stood at £47,451 . Gallery reserves are held in an account with an annual interest rate of
2.5 %. The gallery has committed to setting aside £400 per month in the year 2025126,
while also earning approximately £100 per month in interest on the sum currently held.
It expects to reach its target by May 2028.
Plans for Future Periods
With income secured from the Arts Council England until 31 March 2027 the charity's
survival is not under threat. The charity plans to continue the activities outlined above
in the forthcoming years, subject to satisfactory funding arrangements. Plans are being
developed to work on a number of schemes with artists and educational organisations,
including the development of the gallery's awhive resource.
STRUCTURE GOVERNANCE AND MANAGEMENT
Governin
Document
The organisation is a charitable company limited by guarantee, incorporated on 13
June 2016 and registered as a charity on 14th October 2016. The company was
established under a Memorandum of Association which established the objects and
powers of the charitablé company and is governed under its Articles of Association. In
the event of the company being wound up members are required to contribute an
amount not exceeding £1 for each member
th

MATT'S GALLERY LIMITED
Report of the Board of Thjstees
Year to 31. March 2025
Reeruitment and A
ointment of Trustees
The directors of the company are also charity trustees for the purposes of charity law
and under the company's Articles. Under the requirements of the Memorandum and
Articles of Association trustees are elected to serve for a period of 3 years after which
they must be re-elected at the next Annual General Meeting.
All trustees, other than Gallery Director Robin Klassnik, give their time voluntsrily and
received no benefits from the charity. Klassnik's salary and any expenses reclaimed
from the charity are set out in note 12 to the accounts.
At the quarterly trustees meeting on I l March 2025 Ashleigh Barice retired by rotation
and was re<lected to serve a second terni, Darryl De Prez's tern] as Chair came to an
end and he resigned by rotation at the meeting on I l March 2025. Jes Fernie was
nominated Chair, under a new rotating Chair system approved by the Trustees. The
Chair will come from the existing board and will remain in post for 2 years.
Coline Milliard retired by rotation at the quarterly trustees meeting on 16 September
2025.
The board of trustees seeks to ensure that the needs of artists and our local communities
are appropriately reflected through the diversity of the trustee body. To enhance the
potential pool of trustees, the charity regularly reviews its recruitment procedures in
dialogue with the Arts Council England.
The more traditional business skills and arts expertise are well represented on the Board
of Trustees. In an effort to maintain this broad skill mix, members of the Board of
Trustees are requested to pr()vide a list of their skills (and update it each year) and in
th¢ event of particular skills being lost due to retirements. individuals are approached
to offer themselves for election to the Board of Trustees.
Trustee Induction and Trainin
Most trustees are already familiar with the practical work of the charity having been
encouraged to take up the post.
Additionally. new trustees are invited and encouraged to attend a Quarterly Board
Meeting to familiarise themselves with the charity and the context within which it
operates. These are led by the Chair of the board of truste¢s and the Director.
New trustees are issued welcome inforniation drawn from Charity Commission
publications signposted through the Commissions publication 'The Essential Trustee,
and guidance on public benefi¢ including the guidance'public benefit: running a charity
(PB2)'. This is distributed along with a copy of the Memorandum and Articles and the
latest financial statements and outlines:

MATT'S GALLERY LIMrrED
Report of the Board of Th￿treS
Year to 315t March 2025
The obligations of Board members.
The main documents which set out the operational framework for the charity
including the Memorandum and Articles.
Resourcing and the current financial position as set out in the latest published
accounts.
Future plans and objectives.
Risk Mana
ement
The Board of trustees is aware of the main risks to which the charity is exposed. Where
appropriate, systems or procedures have been established to mitigate the risks the
charity faces. Internal control risks are minimized by the implementation of procedures
for authorisation of all transactions and projects. Proc¢dur¢s are in place to ensure
compliance with health and safety of staff, volunteers, clients and visitors. The
continuing implementation of the procedures ensure a consistent quality of delivery for
all operational aspects of the charity. These procedures are periodically reviewed to
ensure that they continue to meet the needs of the charity.
anisational Structure
Matt's Gallery has a Board of Trustees who meet at least four times per year and are
responsible for the strategic direction and policy of the charity. At present the Board
has nine members from a variety of professional backgrounds relevant to the work of
the charity.
A scheme of delegation is in place and day to day responsibility for the provision of the
services rest with the Gallery Director along with the Deputy Director. The Gallery
Director is responsible for ensuring that the charity delivers the services specified and
that key perfonnance indicators are met. The Deputy Director has responsibility for
the day-to-day operational management of the Gallery, individual supervision of the
staff team and also ensuring that the team continue to develop their skills and working
practices in line with good practice.
Related Parties
In so far as it is complimentary to the Charity's objects, the charity is guided by both
local and national policy.
Res
onsibilities of the Board of Trustees
Company law requires the Board of Trustees to prepare financial statements each year
which give a true and fair view of the state of the affairs of the charitable company as
at the balance sheet date and of its incoming resources and application of resources,
including income and expenditure, for the financial year. In preparing those financial
statements, the Board should follow best practice and:
Select suitable accounting policies and then apply them consistently"
Make judgements and estimates that are reasonable and prudent. and
Prepare the financial statements on the going concern basis unless it is
not appropriate to assume that the company will continue on that basis.

## **MATT'S GALLERY LIMITED Report of the Board of Trustees Year to 31[st ] March 2025** 

The Board of Trustees is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Board of Trustees is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **REFERENCE AND ADMINISTRATIVE INFORMATION** 

**Name of Charity** Matt's Gallery Limited 

**Charity registration number** 1169683 

**Company registration number** 10231860 

**Principal address** 6 Charles Clowes Walk London SWl 1 7AN 

## **Trustees** 

The trustees and officers serving during the year and since the year end were as follows: 

Miss Ashleigh Barice Mr Abdullahi Bashe Miss Chloe Carroll Mr Gabriel Coxhead Mr Darryl De Prez (Resigned: 11 March 2025) Ms Jes Femie (Nominated Chair: 11 March 2025) Ms Teresa Grimes Mr Robin Klassnik Mrs Coline Milliard (Resigned: 16 September 2025) Ms Rosie Reed 

## **Independent examiner** 

Andrew M Wells FMAA T 

Counterculture Partnership LLP 23 St Leonards Road Bexhill East Sussex TN40 lHH Oard of Trustees and ed. on its behalf by x /? Approved by ([ ase~le _I_ 

Mr Robin Klassnik OBE - Trustee 

**1 8 DEC 2025** 

**8** 



## **Matt's Gallery Limited Independent Examiners Report to the Trustees For the year ended 31 March 2025** 

I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2025. 

## **Responsibilities and basis of report** 

As the charity's trustees of the Company (who are ;;1lso the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiners statement** 

Since the Charitable company's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of Association of Accounting Technicians, which is one of the listed bodies. 

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 Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 

4. the accounts 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 accounts 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 accounts to be reached. 

Andrew M Wells FMAA T 19th December 2025 

Counterculture Partnership LLP 

23 St Leonards Road 

Bexhill 

East Sussex TN40 1HH 

**9** 



Matvs Gallery Limited
Statement of Flnanclal Actlvities (includlng Income and Expendlture Account
For the year ended 31 March 2025
Unrostrlctgd
funds
Rmtrfctod
funds
2025
2024
Incomo and endowmonts from:
Donations and legacies
Charitable activities
Investments
172,441
128.680
1,606
301n7
68,388
240,829
128,680
1,606
371,115
188,688
88,267
874
Totsl
88,388
277,829
Exp•ndlturn on:
Raising fund8
Charil*>le aclivities
147,531)
(212,6771
1260,208)
147,$31>
(312,216)
(3S9,747)
129.855>
(286,4611
1316.316)
718
199,539)
199,539)
Tcrtal
Net Incen￿exPend5turn
Re¢M¢lllatlon of fund•
Totsl fvThYs brought forward
Total fw)d• urrl•d lorwawd
42,519
131.1SI
11.368
(38.487)
178.027
220,
488.302
457,151
704.816
6B8.329
677,697
10

Registered Number : 

10231860 

## **Matt's Gallery Limited Statement of Financial Position As at 31 March 2025** 

||**Notes**|**2025**|**2024**|
|---|---|---|---|
|||£|£|
|**Fixed assets**||||
|Tangible assets|14|522,258|577,288|
|||**522,258**|**577,288**|
|**Current assets**||||
|Stocks|15|67,132|67,132|
|Debtors|16|39,791|20,687|
|Cash at bank and in hand||106,739|79,528|
|||**213,662**|**167,347**|
|**Creditors: amounts falling due within one year**|17|(58,223)|(78,306)|
|**Net current assets**||**155,439**|**89,041**|
|**Total assets less current liabilities**||**677,697**|**666,329**|
|**Net assets**||**677,697**|**666,329**|
|**The funds of the charity**||||
|Restricted income funds|18|457,151|488,302|
|Unrestricted income funds|18|220,546|178,027|
|**Total funds**||**677,697**|**666,329**|



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 small 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 trustees. 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 fi anclal statements were approved and authorised for issue by the Board and signed on its behalf by: 


**----- Start of picture text -----**<br>
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**t 8 DEC 2025** 

Mr Robin Klassnik OBE - Trustee 

11 



Matt's Gallery Limited
Notes to the Financial Statements
For the year ended 31 March 2025
1. Accounting Poli¢ies
Basis of accounting
The finanoal ststernents have been p￿Pared Ltnder the historical cost convention. except for investments whith are
included at market value and the revaluation of ￿rtain fixed assets and in accordance with the Charities SORP IFRS
102) 'A¢¢ounting and Reporting by Chariljes.. Statement of Recommended Practs"ce applicable to tharrties preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
leffectiV8 1 January 20191,, Financial Reporting Slandard 102 the Financial Reporbng Standard applicable in the UK and
Republic of Ireland IFRS 1021, and the Companres Act 2006.
Matt's Gallery Limited meets the definition of a public benefit enbty under FRS 102. As5et5 and liabilities are initially
recognised at historical cost or transaction value unles5 Otherwise stated in the relevant accounting policy nolelsl.
Golng concem
The financial stslements are prepared, on a going concern basis. under the historical cost convention.
Funds
The charity maintains a general unrèstricted fund which ￿presents funds which are expendable at the discretion of the
Irustees in furtheran￿ of Ihe objects of the charity. Such funds may be held in order to finance both working capital and
capital investmenl.
Designated fund8 comprise of unrestricted funds that have been Set aside by the Trustees for particular purposes.
Restricted fvnds have ￿en provided to the charity for particular purpose$, and it is the p)Ilcy of th& board of trustses to
¢arefulty monitor the application of those funds in accordance with the restrictions placed upon them.
There i¥ no formal policy of transfer be￿een funds or on the 8llocolion of fund8 to designated funds. other than that
described above
Incoming re50urce•
All incoming resourc88 are inGluded in the statement of financial activitr88 when the Charty is entrtled lo the income and
the amount can be quantified with reasonable accuracy.
R8souK•8 •xpgnded
Liabilities are recognlsed as resourcas expended when th&r6 is a legal or constructive obligation Committlng the Charity
to the exFenditur8.
Taxatlon
As a registered charity, the company is exempt from income and corp)ration 18X to the extent that rts income and gains
are applicable to charitable purpos8s only.
Tonglble fixed assets
Tangible fixed a55ets, other than freehold land, are slated at cost or valuation less depreaation and any provision for
impairment. Depreciation is provided at rates calculated lo wrrte off the cost or valuation of fixed assets, less their
estimated residual value, over their expected useful lives on the following basis..
Land and buildings
Plant and machinery
4.5% Straight line
20% Straight line
Stocks and work In progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving
items. Cost indudes all direct costs and an appropriate proportion of fixed and variable overheads.
Irrecoverable VAT
Irre¢overable VAT 15 included in the Ststement of Financial Activibes. and is ￿pOrted a5 expenditure.
12

Matvs Gallery Limited
Notes to the Financial Statements Continued
For the y•ar ended 31 March 2025
2. Income from donations and legacies
Unrestricted
funds
Restrictad
funds
2025
2024
Donations re￿Ived
12,184
156,207
4,050
12,184
222.595
6,050
16,494
169,214
2,980
Grants received
66.388
2,000
Subscriptions re￿ived
172,441
68,388
240,829
188,688
Analy818 of grarrts recelvod
2025
2024
Artfund
3.977
156,207
Art8 Council England - NP
Cod(ayne Foundation
cultu￿ Ireland
Fiona Crisp
Henry Moore Foundatlon
michel￿ IMlliam8 Gamaker
Offline
156.207
20,000
2,448
12,200
10,000
3,400
7,500
8,840
Stanley Picker Tru8t
9,030
222,595
189.214
3. Incorne from ¢harllablo actlvlllo•
2025
2024
Unr••trlcted funds
Adv8ncem8nl of wsual
conlemporary art
Sales and commission8
128,880
88.267
Inv08tment Income
2025
2024
Unrostrfctod fund¥
Bank interest receivable
1,606
874
1.606
874
13

Matt's Gallery Llmlted
Notes to the Financial Statements Continued
For the year onded 31 March 2025
. Expenditure on generatlng donations and legacles
2025
2024
Unrestrlcted funds
Donations
3.597
6,157
3.597
6.151
6. Expendltyre on other tradlng actlvltlgs
2025
2024
Unro8trlcted funds
Shop costs
43,934
23,698
43.934
23,698
7. Co•ts of charltable actlvltlo• by fund typ
Unrn8trlcted
funds
Rostrlctod
fund•
2025
2024
Advancement of visual
contomporary art
Support Costs
33,648
55,599
89,247
40,240
179,029
43,940
222,969
246,221
212,677
99,539
312,216
286,461
. Cost8 of ch•rltable actlvltleg by actlvlty typg
ACti￿tIeS
undertakon
dlracty
Support
C￿ts
2025
2024
support co•i•
Advancement of visual
contemporary art
89,247
222,969
312,216
286,461
14

Matt's Gallery Limfted
Notes to the Financial Statsments Continuod
For the year ended 31 March 2025
9. Analysis of support'costs
2025
2024
Advancemont of vlsual contemporary art
Management
IT and website
Stationery and
tslephone
Entartainmenl, travel
157,565
5,133
2,482
169,843
8,854
3,247
1,145
Bank and other chargas
Insuran
2,057
4,456
41,862
2,985
1,942
3,540
978
5.183
45.358
5,C69
3,444
3,100
Propety wsts
Sundry
Irrecovorable VAT
Govemance costs
222.969
246,221
10. Net Incom•llo¥pondlturel for tho yaar
This is 8tatad after chargingllcredilingl..
2025
2024
Depreciation of owned fixad a88ets
Accountsncy fees
PAaff pension conlributlons
55,027
2,5
1,818
55,526
2,500
1,540
15

Ma￿$ Gallery Limited
Notes to the Flnancial Statements Contlnued
For the year ended 31 March 2025
11. Staff costs and emoluments
Total staff costs for the year ended 31 Marth 2025 were..
2025
2024
Sa18rie8 and wages
Social 8ecurity costs
Pension oists
97,224
3,340
1,818
99,697
4.580
102,382
105,817
The total employee beneflts Includlng pension contribution8 of tho key management personnel were £48,047
{2024.£40,9731.
No employaés r8caived rernuneralion in excess of £60,OC4J In tho year12024'. £nll).
2025
2024
Gall8ry
12. Tru•t•• romunoratlon and rolat•d paty trnnlactlo
Tho gallory director, Robin Kla88nik is a truslee. Durir#J the year ho received remunoratlon 01 £27,130.
None of thi5 waB for services as a trustee and the charity has sought permi85ion from the Charty Comrni881on to do
thh.
TTi18te85' expenses r8pr88onts the p8yment or reimburBernent of travel and subsistence c08ts totalling £nil (2024.-£nil).
Robin Klassnik, a Iru8te&, has loaned the Charty £15,000 {2024- £15,(X)O). this amount was 8tlll outstandlng at the end
of the year. No Inte￿$t has been charged.
18

Matt's Gallery Llmlted
Notes to tho Financial Statements Continuod
For the year ended 31 March 2025
13. Comparatlve for the Statement of Flnanclal Activities
Unrestrlct8d
funds
Restrlcted
funds
2024
Income and ondowments from:
Donations and le9acie8
Charitable.acts'vities
Investments
166,681
88,267
874
22,007
188,688
88,267
874
Total
255.822
22,007
2TI.829
Expendlture on:
Raising funds
Charitable activities
{29,8551
{203,5191
1233.374)
129.8551
(286.4611
1316,316)
(82,942)
182.942)
Net Incomolexpendlturo
Raconclllatlon of funds
Totsl funds brought forward
Total fund• carrlod forward
22.448
160.935)
(38,487)
155,S79
176,027
549,237
488,302
704,816
666,329
14. Tanglblg flxod assets
Land and
bulldlngs
p￿nt and
machlnery
Cost or valuatlon
Totsl
At 01 April 2024
At 31 March 2025
693.822
693,822
8,675
8.676
702,497
702.497
D•pfaclatlon
At 01 April 2024
Charge for year
At 31 MarGh 2025
Net book valuos
117,036
8,173
125,209
54,528
171,584
502
B.675
55,030
180,239
At 31 MaKh 2025
522,25B
522.258
At 31 March 2024
576,786
502
517,288
15. Stocks and work In progress
2025
2024
Stocks of raw materials
67,132
67,132
67.132
67,132
17

MaWs Gallery Limited
Notes to the Flnancial Statements Contlnued
For the year ended 31 March 2025
16. Debtows
2025
2024
Amounts due wlthln on• y•ar'.
Trade debtors
28,308
11,483
Pr8paym8nts and accrued income
Other debtors
14,552
1,067
39,791
20.687
17. Crndltors: amounts falllng duo wlthln on& y8ar
2025
2024
Trade cffjditOTS
14,177
21,629
22,417
42.175
21,475
14,658
Other creditors
Accruals and deferred Sncoma
68.223
78.306
18. Mo¥•mwt In funds
Unrestrlctod Fund•
Balance at
0110412024
Incomlng
rosources
Outgolng
resourcOB
Trnn8f•r•
Balance at
3110312025
D8sign8t8d
Nine Elms
Developmont lund
Reserve8
113,527
{10,588)
102,939
43.OCI)
4,451
47.451
G8nernl
G8neral
21.500
302,727
{249,6201
14,451)
70,156
178.027
302,727
1260,2081
220,546
18

Matt's Gallery Limitad
Notes to the Financial Statements Continued
For the year ended 31 March 2025
Unrestri¢ted Funds- Prevlous year
Balance at
0110412023
Incoming
resource5
Outgolng
resources
Trartsfais
Balance at
3110Y2024
Designat8d
Nine Elm8
Developmentfund
Reserve5
124,112
110,5851
113,527
39,000
4,OlXJ
43,CNJO
Gen8rn1
Ganeral
17,5331
255,822
1222,789)
{4,000}
21,500
155,579
254B22
{233.3741
178,027
Purpo80 of unrestrlctod FurKI$
Artistic works
Fund8 d88ignated by the trustse8 for the creatton of artistic worf(s.
Nine Elms Dev&lopment fvnd
Funds designated by the trustees for the Nine Elrn8 Development
Reserves
Fund8 d88ignatsd by the trustees.
General
The unrestrlcted fund holds the general funds of charity.
Rgstrlcted Funds
Balanco at
0110412024
Incomlng
resources
Outgolng
rnsources
Balance at
3110312026
Artistic Works
14,267
10,776
463,259
59,548
(46.105)
(9,4941
(43,9401
27,710
10,122
419,319
Inlern fund
Nine Elms
Developmant fund
488,302
68,388
(99,$39)
457,151
19

Matt's Gallery Limited
Notes to the Financial Statements Contlnued
For tho year ended 31 March 2025
Rèstrlctod Funds - Previous year
Balance at
0110412023
Incoming
rosourc•s
Outgolng
rn50urc8S
Balance at
3110312024
Artistic works
32,504
9.534
507,199
12,977
9,030
131,2141
17,788)
143,9401
14.267
10,776
463,259
Intem furNI
Nin8 Elms
Development fvnd
549,237
22,007
(82,942)
488.302
Purpo80 of re8trlctgd funds
'Artistic works
The prolect fund is for the creation of artlstic works
Nlne Elms Development fund
Funds donated for the Nine Elms Developmenl
Intern fund
For funding of intern posts
19. Analy￿9 of not a8set8 b8twaen fundi
Tinglbl•
Ilx•d ••••t•
N•t currnnt N•t A•••ts
a•sots 1
Ill•bllltS••)
Unre8trlctod fund8
Gen8r&l
General
70,156
70,156
Designated
Nine Elms Developmenl
fund
Reserves
102,939
102,939
47,451
47,451
R8strf¢tod funds
Artistic works
27,710
10,122
27,710
10,122
419.319
Intem fund
Nine Elm5 0evelopm8nt
fund
419,319
522,258
155,439
677.697
20

Matt's Gallery Limited
Notes to tho Financial Ststements Contlnued
For the year ended 31 March 2025
Prevlous year
Tanglbl•
flxed assets
Net curvEnt N•t A￿•ts
assets I
IllabSlltles)
Unrestricted funds
General
G8neral
502
20,998
21,SCw)
Dasign8t8d
Nin8 Elms Development
fund
113,527
113,527
Reserves
43,OiJ)
43,WO
Restrlcted funds
Artistic works
14,267
10.776
14,267
10,776
463,259
Intem fund
Nine Elms Devalopment
fund
463,259
577,288
89,041
666,329
20. Company Ilmlted by guarontO0
Malvs Gallery Limited 18 a company limited by guaranta8 arKI accordingly does not have a Sha￿ capital.
21