REGISTERED COMPANY NUMBER: CE009400 (England and Wales) REGISTERED CHARITY NUMBER: 1170774
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
FOR
SOLE BAY ARTS C.I.O.
Juler Tooke Lothing House Quay View Business Park Barnards Way Lowestoft Suffolk NR32 2HD
SOLE BAY ARTS C.I.O.
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 | to | 14 |
SOLE BAY ARTS C.I.O.
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of 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) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES Objectives and activities
a. Policies and objectives
The Charities objectives are to advance education in the arts, culture and heritage and to benefit the residents of Southwold and the surrounding area and to improve the conditions of life for them, without distinction of sex, sexual orientation, race, political, religious or other opinions by associating with them and with local authorities, voluntary and other organisations in a common effort to advance education and provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving conditions of life for the residents. In furtherance of the above the Charity trustees may (inter alia) establish and maintain an arts and community centre in St Edmund's Hall, Southwold.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
Activities undertaken to achieve objectives
Excluding community and society events, we hosted 152 events in the hall, with a total audience of 13,574, an average of 89 per event. The 36 Summer Theatre shows accounted for 4,714, at an average of 131 per show. We staged 15 non-ACT theatre performances, for a total audience of 763, an average of 51 per show. 16 music, jazz or standup events had audiences of 150+, as did one film (Conclave) and one literary event (Ann Cleves). Our share of the income from tickets for the year amounted to £52,259, down 11% on 2024. This drop is mainly due to reduced income from the Arts Festival and Summer Theatre, and to the fact that we did not manage to get Dukes Theatre back again, following their very successful Christmas Carol in 2024.Excluding community and society events, we hosted 152 events in the hall, with a total audience of 13,574, an average of 89 per event. The 36 Summer Theatre shows accounted for 4714, at an average of 131 per show. We staged 15 non-ACT theatre performances, for a total audience of 763, an average of 51 per show. 16 music, jazz or standup events had audiences of 150+, as did one film (Conclave) and one literary event (Ann Cleves). Our share of the income from tickets for the year amounted to £52,259, down 11% on 2024. This drop is mainly due to reduced income from the Arts Festival and Summer Theatre, and to the fact that we did not manage to get Dukes Theatre back again, following their very successful Christmas Carol in 2024.
It's also impressive that we have produced several events ourselves, including our third edition of Royal Shakespeare Company films, our second poetry event 'Stars'n Tides', the third edition of the Southwold Literary Festival, Community Cinema, Arts Cinema, and the fourth edition of Science Week.
We concluded the year with our regular Gavin Dean panto.
Community events in the hall are very important to us, including the weekly Parents and Toddlers group, the Pensioners Coffee Morning, the Southwold Arts Society, Suffolk Wildlife Trust and Sole Bay Lifelong Learning. The Reydon and Southwold Pantomime Group staged their annual panto Aladdin in February, continuing a 40-year local tradition.
We've continued to receive plaudits from audience members and performers about what an attractive venue the Arts Centre is. This is a tribute to our staff and volunteers.
Page 1
SOLE BAY ARTS C.I.O.
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
ACHIEVEMENTS AND PERFORMANCE
Fundraising activities
As reported above, Sole Bay Arts CIO ran a full programme of activities at the Southwold Arts Centre in 2025. We have managed to increase our reserves over the past four years to £50,000, including £20,000 ear-marked for building works.
In January and the first half of February we replaced the ceiling of our auditorium, installed new insulation in the roof space, and redecorated the interior of the auditorium and foyer, thanks to an immense volunteer effort and impressive fund-raising from our supporters and grant-giving bodies in 2024.
Our next large project is to redecorate the exterior of the building and refurbish the roof, a task made urgent by the incidence of leaks into the auditorium. We have begun the fund-raising effort to achieve, this and have grants in hand of £15,000 from the Southwold Trust and £1,000 from Southwold Town Council.
We have a very strong and active team of Trustees. We were sad to lose Andrew and Fiona Taylor, who decided to move to Northumberland. New Trustees joining us this year were Julie Jordan and Grant Masom. We also lost our long-standing hall manager, Dawn Woodard, who decided to take early retirement on December 24th. She had played a major role in helping to build up Southwold Arts Centre. We are in the process of seeking a replacement.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Sole Bay Arts C.I.O is a Charitable Incorporated Organisation, incorporated on 15 December 2016 and commenced trading on 1 January 2017. It is a registered charity, number 1170774, and is governed by a constitution, dated 15 December 2016, which established the objects and powers of the organisation and its trustees.
Recruitment and appointment of new trustees
The management of the Charity is the responsibility of the Trustees who are elected and co?opted under the terms of the Constitution. The minimum number of trustees is three and the maximum number is twelve. Every trustee must be appointed by a resolution passed at a properly convened meeting of the Trustees. In selecting individuals for appointment, the Trustees must have regard to the skills, knowledge and experience needed for the effective administration of the Charity. Southwold Town Council may appoint one Trustee and Southwold Parochial Church Council may appoint two Trustees. Each appointment is made for a term of three years, effective from the later of the date of the vacancy and the date on which the Trustees are informed of the appointment.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
CE009400 (England and Wales)
Registered Charity number
1170774
Registered office
St Edmunds Hall Cumberland Road Southwold Suffolk IP18 6JP
Page 2
SOLE BAY ARTS C.I.O.
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025
Trustees
R Mole Rev A D Perry (resigned 12.1.25) Prof G M Rowan-Robinson S Flunder P Hegarty Mrs F E Taylor (resigned 11.4.25) R M Burnett A Taylor (resigned 11.4.25) V Redington P Luke F Griffiths J A Jordan (appointed 25.5.25) G A Masom (appointed 25.5.25)
Independent Examiner
Peter Boardman Juler Tooke Lothing House Quay View Business Park Barnards Way Lowestoft Suffolk NR32 2HD
Approved by order of the board of trustees on 19 May 2026 and signed on its behalf by:
Prof G M Rowan-Robinson - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOLE BAY ARTS C.I.O.
Independent examiner's report to the trustees of Sole Bay Arts C.I.O. ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors 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 as 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 examiner's statement
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:
-
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
-
the accounts do not comply with the accounting 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
-
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.
Peter Boardman The Association of Accounting Technicians
Juler Tooke Lothing House Quay View Business Park Barnards Way Lowestoft Suffolk NR32 2HD
19 May 2026
Page 4
SOLE BAY ARTS C.I.O.
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 172,317 Other trading activities 2 70,379 Investment income 3 742 Total 243,438 EXPENDITURE ON Raising funds 4 171,857 Other 74,027 Total 245,884 NET INCOME/(EXPENDITURE) (2,446) RECONCILIATION OF FUNDS Total funds brought forward 98,314 TOTAL FUNDS CARRIED FORWARD 95,868 |
Restricted fund £ - - - - - - - - - - |
31.12.25 31.12.24 Total Total funds funds £ £ 172,317 158,073 70,379 80,665 742 613 243,438 239,351 171,857 178,447 74,027 25,536 245,884 203,983 (2,446) 35,368 98,314 62,946 95,868 98,314 |
31.12.25 31.12.24 Total Total funds funds £ £ 172,317 158,073 70,379 80,665 742 613 243,438 239,351 171,857 178,447 74,027 25,536 245,884 203,983 (2,446) 35,368 98,314 62,946 95,868 98,314 |
|---|---|---|---|
| 239,351 | |||
| 178,447 25,536 |
|||
| 203,983 | |||
| 35,368 62,946 |
|||
| 98,314 |
The notes form part of these financial statements
Page 5
SOLE BAY ARTS C.I.O.
BALANCE SHEET 31 DECEMBER 2025
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 758 CURRENT ASSETS Stocks 9 1,137 Debtors 10 3,727 Cash at bank 92,334 97,198 CREDITORS Amounts falling due within one year 11 (2,088) NET CURRENT ASSETS 95,110 TOTAL ASSETS LESS CURRENT LIABILITIES 95,868 NET ASSETS 95,868 FUNDS 12 Unrestricted funds TOTAL FUNDS |
Restricted fund £ - - - - - - - - - |
31.12.25 Total funds £ 758 1,137 3,727 92,334 97,198 (2,088) 95,110 95,868 95,868 95,868 95,868 |
31.12.24 Total funds £ 947 1,137 10,428 118,064 129,629 (32,262) 97,367 98,314 98,314 98,314 98,314 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 19 May 2026 and were signed on its behalf by:
G M Rowan-Robinson - Trustee
The notes form part of these financial statements
Page 6
SOLE BAY ARTS C.I.O.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 7
SOLE BAY ARTS C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
| 2. | OTHER TRADING ACTIVITIES | ||
|---|---|---|---|
| 31.12.25 | 31.12.24 | ||
| £ | £ | ||
| Room hire | 18,774 | 26,715 | |
| Cafe and Bar | 51,605 | 53,950 | |
| 70,379 | 80,665 | ||
| 3. | INVESTMENT INCOME | ||
| 31.12.25 | 31.12.24 | ||
| £ | £ | ||
| Deposit account interest | 742 | 613 | |
| 4. | RAISING FUNDS | ||
| Raising donations and legacies | |||
| 31.12.25 | 31.12.24 | ||
| £ | £ | ||
| Staff costs | 37,126 | 29,624 | |
| Support costs | 10,425 | 9,001 | |
| 47,551 | 38,625 | ||
| 5. | NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 31.12.25 | 31.12.24 | ||
| £ | £ | ||
| Depreciation - owned assets | 189 | 237 | |
| Other operating leases | 54,953 | 6,088 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.
continued...
Page 8
SOLE BAY ARTS C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 158,073 Other trading activities 80,665 Investment income 613 Total 239,351 EXPENDITURE ON Raising funds 178,447 Other 25,536 Total 203,983 NET INCOME 35,368 RECONCILIATION OF FUNDS Total funds brought forward 62,946 TOTAL FUNDS CARRIED FORWARD 98,314 8. TANGIBLE FIXED ASSETS COST At 1 January 2025 and 31 December 2025 DEPRECIATION At 1 January 2025 Charge for year At 31 December 2025 NET BOOK VALUE At 31 December 2025 At 31 December 2024 |
Restricted fund £ - - - - - - - - - - |
Total funds £ 158,073 80,665 613 |
|---|---|---|
| 239,351 | ||
| 178,447 25,536 |
||
| 203,983 | ||
| 35,368 62,946 |
||
| 98,314 | ||
| Fixtures and fittings £ 1,649 702 189 891 758 947 |
continued...
Page 9
SOLE BAY ARTS C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
| 9. STOCKS Stocks 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Accruals and deferred income 12. MOVEMENT IN FUNDS At 1.1.25 £ Unrestricted funds General fund 98,314 TOTAL FUNDS 98,314 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 243,438 TOTAL FUNDS 243,438 |
31.12.25 31.12.24 £ £ 1,137 1,137 31.12.25 31.12.24 £ £ 560 7,393 3,167 3,035 3,727 10,428 31.12.25 31.12.24 £ £ 2,088 7,147 - 25,115 2,088 32,262 Net movement At in funds 31.12.25 £ £ (2,446) 95,868 (2,446) 95,868 Resources Movement expended in funds £ £ (245,884) (2,446) (245,884) (2,446) |
|---|---|
continued...
Page 10
SOLE BAY ARTS C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.24 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 62,946 | 35,368 | 98,314 |
| TOTAL FUNDS | 62,946 | 35,368 | 98,314 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 239,351 239,351 |
Resources Movement expended in funds £ £ (203,983) 35,368 (203,983) 35,368 |
Resources Movement expended in funds £ £ (203,983) 35,368 (203,983) 35,368 |
|---|---|---|---|
| 35,368 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.24 | in funds | 31.12.25 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 62,946 | 32,922 | 95,868 |
| TOTAL FUNDS | 62,946 | 32,922 | 95,868 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 482,789 482,789 |
Resources Movement expended in funds £ £ (449,867) 32,922 (449,867) 32,922 |
Resources Movement expended in funds £ £ (449,867) 32,922 (449,867) 32,922 |
|---|---|---|---|
| 32,922 |
continued...
Page 11
SOLE BAY ARTS C.I.O.
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2025.
Page 12
SOLE BAY ARTS C.I.O.
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| 31.12.25 | 31.12.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 34,570 | 6,299 |
| Theatre and Cinema | 137,747 | 151,774 |
| 172,317 | 158,073 | |
| Other trading activities | ||
| Room hire | 18,774 | 26,715 |
| Cafe and Bar | 51,605 | 53,950 |
| 70,379 | 80,665 | |
| Investment income | ||
| Deposit account interest | 742 | 613 |
| Total incoming resources | 243,438 | 239,351 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Wages | 36,549 | 28,900 |
| Pensions | 577 | 724 |
| 37,126 | 29,624 | |
| Other trading activities | ||
| Cafe and Bar | 27,822 | 27,885 |
| Event costs | 97,584 | 113,035 |
| Closing stock | (1,100) | (1,098) |
| 124,306 | 139,822 | |
| Support costs | ||
| Management | ||
| Repairs and maintenance | 54,953 | 6,088 |
| Rent and utilities | 8,549 | 9,006 |
| Licences, permits and memberships | 1,203 | 1,670 |
| Cleaning | 1,498 | 1,151 |
| Telephone and email | 1,555 | 1,602 |
| Administrative services | 814 | 1,153 |
| Advertising | 4,109 | 2,369 |
| Office costs | 5,234 | 4,935 |
| 77,915 | 27,974 | |
| Finance | ||
| Insurance | 3,323 | 3,147 |
This page does not form part of the statutory financial statements
Page 13
SOLE BAY ARTS C.I.O.
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025
| 31.12.25 | 31.12.24 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Other | ||
| Fixtures and fittings | 190 | 237 |
| Governance costs | ||
| Accountancy fees | 816 | 780 |
| Card processing fees | 2,208 | 2,399 |
| 3,024 | 3,179 | |
| Total resources expended | 245,884 | 203,983 |
| Net (expenditure)/income | (2,446) | 35,368 |
This page does not form part of the statutory financial statements
Page 14