2024-12-31-accounts

SEE UA REP

Reference and administrative details of the Charity, its Trustees and Advisers

Registered charity name

Set Centre

Charity registration number Principal office

1170903

SET Woolwich Riverside House London SE18 6BU

Dr Alexandra M Bickley Trott

The trustees

Ms Amy V Brennan Mr Robert AJ McLaren Dr Alexander J Thomas

Independent Auditors

Axis Accountants Ltd Zeal House 8 Deer Park Road Wimbledon London SW19 3GY

CONTENTS

4 WELCOME 7 ABOUT SET 9 2024 IN NUMBERS 11 ARTS AND MUSIC PROGRAMME 32 COMMUNITY OUTREACH AND ENGAGEMENT 42 STUDIOS AND INFRASTRUCTURE 56 ADVOCACY AND LAASN 58 TRUSTEES’ REPORT 75 INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES AND MEMBERS. 82 STATEMENT OF FINANCIAL ACTIVITIES 83 BALANCE SHEET 84 STATEMENT OF CASH FLOWS 85 NOTES TO THE FINANCIAL STATEMENTS

Cover:

Project Space at Lewisham Retail Park, Install Shot of I Will Live Many Years in this Room . Image taken by Ashleigh Fisk, February-March 2024.

Annual Report 2024

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WELCOME:

In previous years, we have used the introduction to SET’s Annual Report to reflect on the year through a specific theme. The 2022 introduction focused on what it means for an organisation to exist across temporary projects, while the 2023 introduction explored the relationship between art and politics, and the history of artist-led initiatives. For 2024, we highlight something which has been core to SET’s work since its founding in 2016: developing arts centres that are also social—places for people to gather.

This focus is particularly relevant in 2024, a year in which the breadth of SET’s activities came to the fore. We worked with both our Associate Members and local communities to collaboratively develop projects that would have been difficult for a single organisation to deliver alone. Newly developed or expanded departments, including Communities, Curation, Venues, and Archiving, facilitated new partnerships that allowed these activities to blossom.

• OF : 4 x « \ 4 LOOKING BACK, MOVING FORWARD

Opposite: Associate studio member at SET Ealing. Image taken by Briony Mitchell.

At SET Social in Peckham, our work with local organisations resulted in a diverse programme: offering warm space during the winter, workshops for those with dementia, community gardening, literacy workshops, and the development of the Stage Gallery through the volunteer work by Elizabeth Alster. Our social Friday and Saturday evenings continued, alongside a broad Monday-Thursday arts programme featuring readings, dinners, screenings, workshops, karaoke, life drawing, writing, the list goes on. Across this space alone, SET delivered over 300 individual events in 2024.

In Woolwich the Community Café, originally set up by Associate Member Alice Fraser in collaboration with Tom Hirst, remained a place of meeting, offering those in need free meals subsidised by paying visitors. The café and community garden fostered conversation and mutual support. Meanwhile, the Vault, our music and performance venue, hosted a broad programme similar to SET Peckham, with an emphasis on late night electronic music. The fourthfloor project space featured exhibitions led by more than 600 Associate Members with studios in Woolwich.

Our work in Ealing included providing free space to organisations such as Afghan Academy International and collaborating on programming with them and other local organisations and community organisers, including Sukant Chandran and Southall Black Sisters. This collaboration culminated in the creation of a second space dedicated to community-oriented activities, developed by the newly appointed Studio Manager and Community Engagement Officer, Josh Moseley.

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None of these projects could have succeeded without people coming together: be that the artists in our studios, SET members of staff, local organisations, and members of the surrounding community. Every time we open a space, we receive numerous requests for studios and community spaces. Similarly, our submissions inbox is bursting with proposals for events which bring people together. With the closure of so many civic, cultural and community spaces, there is a tangible risk that communities atomise into individuals, and that culture reflects only individual interests, artistically and otherwise. SET demonstrates an alternative approach: arts spaces that are social and communityoriented, which, given the potential to grow, could shape a difference approach to space in wider society. As our research develops in 2025, we hope to better understand the broader impact of this work.

Looking back at previous introductions: in 2022, we explored how meaning can be created in impermanent projects; in 2023, we examined the political dimensions of the arts. In 2024, these collective ideas culminated in a year where SET neither opened nor closed any centres until the latter half of the year. If change is often described as “blowing in the wind,” 2024 was a moment when the wind subsided, allowing SET to see its purpose clearly: creating places for people to come together socially and artistically, to support one another, and to organise collectively.

Opposite: Outside of SET Woolwich, March 2021. Photo by Tim Bowditch.

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SET

Annual Report 2024

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SET is a contemporary arts organisation and registered charity that transforms vacant buildings across London into spaces for eclectic, experimental culture, collective making, and community. Founded in 2016 by artists, SET has grown into a series of city-wide centres shaped and sustained by the communities who inhabit them. Everyone who contributes to SET – Associate Members, the team, local artists and residents who use and enjoy our spaces – is part of what SET is and does.

At the heart of our work is a bold multidisciplinary public programme, co-created with our members and local communities, spanning exhibitions, residencies, performances, workshops, talks, a film festival, music, literature, social projects, activism, and night culture. Our programme champions experimental and underrepresented practices, creating platforms for artists at all stages, especially those early or mid-career, to share and develop their work.

Alongside programming, SET provides some of London’s most affordable studios. As of 2024, we support more than 800 artists across our centres, with many spaces also offering project spaces and workshops. By reinvesting all income into operations and programmes, we ensure affordability, accessibility, and stability for artists to pursue their practice without prohibitive costs.

SET also advocates for artists and communities across the city. Through partnerships with councils, cultural organisations, and London’s Affordable Artists’ Studio Network (LAASN), we push for systemic change to safeguard affordable space and expand access to culture.

Our charitable purpose is the advancement of the arts for public benefit. We achieve this by nurturing communities of artists, platforming experimental work, and keeping space for culture open and alive for everyone .

2024 IN NUMBERS

Number of Number of new Number of centres opened: centres signed: centres closed: 3 6 1 Total number of Net number of Average number of self-contained centres opened and studios: signed by end of 2024: supported in 2024: 479 15 807 Total square footage Average price of studios activated in 2024: across centres (psf pa): 215K £13.08

Average number of Associate studio members supported in 2024:

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ARTS AND MUSIC “ ns aE ow a Fa a SC St ~ = s +t : ae ~ . “Aske *: —_ ent oN PROGRAMME

EXPERIMENTATION AND EXHIBITION

In 2024, SET delivered a dynamic programme, running over 300 events across SET Social, the Vault, and other project spaces. Our public programme reflects the communities that work in our studios as well as local artists and residents beyond SET, creating a cycle: artists have the space, support, and resources to create, and then a platform to exhibit, perform, or share their work.

From the outset, SET has prioritised eclecticism and experimentation, bringing visual arts, music, performance, community projects, local culture, night culture, and activism together under one roof—or multiple roofs. SET’s venues, including our flagship arts and social members’ club, SET Social, our music and performance venue, SET Vault, and smaller project spaces across London, host the majority of our programme. In all these spaces, studio members and local residents can propose projects, encouraging a plurality of forms and approaches. It is consistently inspiring to see the programme evolve in response to these ideas.

Our programming aims to be inclusive, and we are always open to proposals. This open-door approach is complemented by two key strands: SET Projects and the Associate Members’ Programme.

SET Projects encapsulates programming curated by the SET team, encompassing residencies, collaborative opportunities, and public-facing events—from the SET Film Festival to SET Vault Radio and the Archival Project, community days at SET Social, and in-house club nights at SET Vault. These events reflect both the organisation’s interests and the individual voices within the team.

Opposite:

Scritch Scritch Scratch Group Exhibition at SET Woolwich 2024 by Daphne de Sonneville, Marc Fleming and Carl Gent.

The Associate Members’ Programme empowers studio holders to independently curate exhibitions, workshops, and events. By granting autonomy, SET fosters experimentation and responsiveness to local communities who use them. This is especially crucial for early-career and underrepresented artists, providing access to project spaces that enhance visibility and professional development within London’s challenging art ecosystems.

Annual Report 2024

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PROGRAMME OPERATIONS

Despite temporary operational challenges, including the brief closure of SET Vault due to noise concerns, programming continued across all venues. Spaces such as SET Social, the Vault, and the project spaces at SET Woolwich, Ealing, Kensington and Lewisham Retail Park hosted visual arts, theatre, music, film screenings, and workshops, reaching diverse audiences while maintaining affordable access.

2024 also marked a consolidation of SET’s achievements

in venue management, curation, and programming. Social centres and performance venues expanded their reputation for experimental, cross-disciplinary events. With support from Rex Refreshments, a company specialising in hospitality and service management, which facilitated bar operations, SET sustained both financial stability and the social atmosphere necessary for thriving cultural spaces.

SET’s programme is defined by experimentation, engagement, and vitality. While the temporary nature of our buildings presents challenges, it also allows SET to be agile and deeply embedded in the communities it serves. Each exhibition, performance, or project provides a unique opportunity for public interaction, exploring political, social, individual, and communal forms.

ASSOCIATE MEMBERS’ PROGRAMME

The Associate Members’ Programme continued to flourish in 2024, offering artists studio space alongside opportunities to independently curate exhibitions and events. This strand of SET’s work prioritises creative autonomy and experimentation, enabling members to engage deeply with site-specific contexts and public-facing programmes.

Access to project spaces is guided by the requests of our Associate Members rather than imposed from above, reflecting an ethos that sets SET apart from many other studio providers. Members, many of whom live locally, are empowered to lead this part of the programme, creating a dispersed form of curation and giving communities genuine ownership of the centres they inhabit.

In 2024, 13 out of 29 submissions progressed through an open call, leading to 17 exhibitions across SET Woolwich, Lewisham, Ealing, and the relocated exhibitions from Kensington after its project space closure in November.

SET’s fourth-floor gallery in Woolwich provided a central space for members’ activity, inspiring site-responsive work that explored the building’s industrial history and past use as an office. Notable exhibitions included Comms , featuring studio members Akinsola Lawanson, Chen Di, James Raphael Tabbush, and Jelena Viskovic. This project interrogated themes of communication, systems, and performance, reflecting Woolwich’s historic role as the site of the first transatlantic submarine cables. The artworks engaged with ideas of nervous and communicative systems, process philosophies, and systemic interactions, integrating images of pipes, flows, ritual conferences, animate objects, and intimate machines into the architectural space.

At SET Lewisham, members Eva Freeman and Jenny Pengilly presented Joy For Stuff , a playful exploration of sensory engagement and creativity. Their work combined individual

Annual Report 2024

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practices with collaborative approaches, focusing on interactions with everyday materials and objects to elicit joy and imaginative participation.

Collaborative partnerships were also a highlight of 2024. Roots and Routes , hosted at SET Woolwich in partnership with Woolwich-based affordable studios provider and neighbour, ArtHub, showcased the creative potential of combining members’ work with wider community engagement.

Through these initiatives, the Associate Members’ Programme maintained its dual focus on affordable studio space and ambitious, publicly-engaged artistic projects, encouraging independence while remaining integrated with SET’s broader community and collaborative ethos.

Opposite: SET Woolwich Project Space, Install shot from Comms , Jelena Viskovic, Volumes: Ties of Allegiance, May 2024. Image taken by Dominique Croshaw.

Annual Report 2024

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CASE STUDY: INTRODUCTIONS AND BREAK UPS EXHIBITION AT SET EALING

The project at SET Ealing focused on transparent materials and the interplay between sculpture, textiles, and inflatables. Over seven days, Julie and Mandeep created and dismantled works, tested arrangements, and responded to the architecture and large gallery windows.

“It was great to be able to produce and arrange works in the space as an ongoing process rather than being forced to create a fixed exhibition. Opening up space simply for thinking and experimenting with alternative arrangements is a rare commodity,” said Julie.

The visibility of the gallery windows invited passersby of all ages and backgrounds to witness the artists at work, creating a form of informal engagement. Fellow studio members also visited, providing feedback and strengthening the sense of community. On the final day, the artists hosted a mini preview for invited artists, curators, and academics, combining discussion, a score-based feedback exercise, and tea.

Julie reflected: “It gave us valuable feedback from outsiders in much more depth than a traditional Private View, and introduced people from different disciplines to each other, encouraging cross-disciplinary networking.”

The residency also generated professional outcomes: Julie went on to deliver a talk called Artist Talk on Collaboration at Oxford Brookes University in 2025.

Left to right: Wire Mother , Introductions and Break Ups , SET Ealing, 2024. Images courtesy of the artists.

Hubba Bubba , Introductions and Break Ups , SET Ealing, 2024. Images courtesy of the artists.

In 2024, SET Ealing hosted Introductions and Break Ups , a week-long residency by Julie Brixey-Williams and Mandeep Dillon, where the artists created, documented, and critiqued their work in progress. Both artists had recently completed research-led residencies at Bucks New University, exploring new directions in metal fabrication, textile printing, silicone moulding, wax casting, and inflatable sculpture.

“SET offered us a reflective time where we could step off the carousel of making, pause to unpick, discuss and critique these new experimental works, whilst offering support to each other.”

—Julie Brixey-Williams, one of the artists involved in Introductions and Break Ups

Annual Report 2024

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Opposite: SET Ealing Open Studios 2024. Image taken by Dominique Croshaw.

This page:

Mosquito Farm performing at SET Woolwich Open Studios, November 2024.

Finally, SET Woolwich showcased two exhibitions: Heist , featuring 18 artists, and Simply Nature , displayed for the first time in the UK as part of Let the Grassroots Grow . Curated by SET Curatorial Researcher, Amina Ali, in collaboration with Video City and riesa efau, this multi-part programme expanded on the previous year’s knowledge exchange, exploring gardens, nature, and ecological activity as meeting points for communities, ideas, and culture. The exhibitions were accompanied by experimental live performances from Mosquito Farm and leisure fm, alongside a sound and sculpture installation in the community garden.

The project was supported by the Cultural Bridge fund, which celebrates bilateral artistic partnerships between the UK and Germany through the collaboration between Arts Council England, the Arts Council of Northern Ireland, the British Council, Creative Scotland, Fonds Soziokultur, Goethe-Institut London, and Wales Arts International / Arts Council of Wales.

SET OPEN STUDIOS

Open Studios is one of the most significant events in SET’s annual programming, offering members the opportunity to open their studios to the public, engage with one another, and share their creative practices. In 2024, Open Studios took place across SET Woolwich, Ealing, Kensington, and Lewisham in the autumn, generously funded by one of SET’s Associate Members.

At SET Lewisham, visitors were invited to meet over 80 artists across two sites, view the exhibition Sirius-Lewisham Station by Ellis Warren and Katie Mess, and take part in workshops such as free sketchbook-making sessions.

SET Kensington hosted curated film screenings as part of the Lou Show exhibition, alongside music performances by Naturalite Soundystem’s Sonny Molloy in the courtyard.

At SET Ealing, visitors explored a group exhibition of members’ work and experienced cultural programming from Afghan Academy International, including a musical performance, chess games, and a selection of Afghan refreshments.

Annual Report 2024

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SET PROJECTS

This page: Project Space at Lewisham Retail Park, Install Shot of I Will Live Many Years in this Room . Image taken by Ashleigh Fisk, February-March 2024

SET Projects, led by the SET Team, provides residencies, collaborative opportunities and public-facing events, complementing the independent focus of the Associate Members’ Programme. In 2024, the strand continued to prioritise ambitious, research-led projects that engage both artists and audiences, supported by partnerships and external funding.

Earlier in the year, SET was awarded £14,000 by Arts Council England to support a solo exhibition by artist Ashleigh Fisk, accompanied by new writing from Gwen Dupré and a public programme. While the project followed an initial unsuccessful Arts Council England application, SET’s curatorial team, Ellie Dobbs and Verity Monroe, refined the proposal with ACE guidance to ultimately secure the grant.

I Will Live Many Years in this Room ran at SET Lewisham from 29 February to 24 March 2024, featuring commissioned works that explored the historic craft of letterlocking through ceramics, iron-gall ink, and foraged materials. The exhibition transformed the gallery into a domestic, immersive space, filled with playful furnishings, stained glass, and objects embodying multiple narratives.

The public programme included visual scribing, ink-making and letterlocking workshops, queer reading groups, and live performances. Writer and ceramicist Edmund de Waal also visited the exhibition and responded positively to both the concept and Ashleigh’s work.

Gwen Dupré added that working on the project allowed her to develop her practice as a writer in collaboration with artists, gaining confidence to take on similar projects in the future.

“I found SET to be amazingly supportive throughout the whole process...It felt really nice to be part of something that really had a pulse,”

—Ashleigh Fisk, artist behind I Will Live Many Years in this Room

Annual Report 2024

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This page: Poster for launch of SET Vault Radio, November 2024.

HISTORIES IN THE MAKING: SET'S ARCHIVE PROJECT

Launched in 2023 by Amina Ali, Curatorial Researcher, and expanded in 2024, with the addition of Charlie Goodall, a longstanding Associate Member, the SET Archive Project documents the organisation’s history, impact, and community in anticipation of SET’s 10-year anniversary in 2026. Key milestones include the ongoing creation of a systematically curated digital archive, recording SET’s events, studio holders, and meanwhile spaces.

The project’s first public output was All Purpose Filla , a new podcast produced through SET Radio. The podcast provides a platform for artists and community members to reflect on their work and experiences in an informal, studio-visit style.

The archive team also began recording Oral Histories , developed in collaboration with researcher Natasha Eves as part of her PhD on affordable studio spaces in London, with SET as a central case study.

Charlie Goodall, SET’s Podcaster and Archival Documenter, explained:

“Through all of our projects we aim to document and track our progress as an organisation, create a tangible record of the London-based contemporary arts community we support, and gain greater insight into the experiences of the people who use our spaces.”

SET VAULT RADIO

2024 also saw the launch of SET Vault Radio, a communitydriven broadcast platform extending the SET Vault’s ethos of experimentation and collaboration. Its inaugural six-hour broadcast brought together SET Woolwich members, friends, and local collaborators, supported by a new website and brand identity.

Initiated and produced by SET Studio Manager Milena Szymanek and Sound and Production Technician Max Carton, they are developing a public programme of shows featuring 42 different hosts.

Annual Report 2024

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SET SOCIAL: A SPACE FOR ARTS, ACTIVISM, AND COMMUNITY

Opposite: SET Social, red bar, 2024. Members of SET Social, 2024.

regular resident groups also found a welcoming home at the venue, including the Tissue Writing Group, Anti-Colonial Reading Group, Resonance Poetry , and the Page of Wands Writing Group. SET Social maintained a comprehensive film programme throughout the year, featuring the Vietnamese Experimental Film Festival, OffBeat Folk Film Club, Latin American Cinema Club, and the SET Film Festival.

Between January and June 2024, the venue hosted six major fundraising events, supporting initiatives ranging from genderaffirming surgeries to humanitarian aid for Palestine. A key development was the transition of the Think Big Read Library into the Manchanda Community Library, dedicated to the late activist Claudia Manchanda’s collection on social justice, community building, and herbalism. Run in partnership with the qtiBIPOC mental health collective, Misery, the library offers workshops, reading groups, and online archiving while serving as a memorial to Manchanda’s work.

SET Social also continued to nurture its long-standing community garden, a collaborative green space that offers opportunities for growing, learning, and gathering. Alongside, local resident Father Pheonix remained the house DJ, sustaining a regaular presence at weekend nights and reinforcing the venue’s role as both a cultural and social gathering place.

SET Social is an arts and social member’s club in Peckham. Membership is deliberately low-cost at £8 per year, with free membership offered to residents in the vicinity. The programme blends casual social activities, such as meeting friends or playing pool, with a rich calendar of cultural and community events, including poetry launches, performance evenings, and the annual SET Film Festival.

In 2024, SET Social expanded its arts programme significantly. The addition of a Community Officer, Tabitha Weddell enabled more daytime activities, including book launches, poetry readings, Marxist and decolonial study groups, Palestine fundraisers, climate resistance meetings, and collaborations with the Jewish organisation Na’amod. Temporary and

Amid a challenging arts landscape in southeast London, SET Social has also become a refuge for groups displaced by venue closures. Folk of The Round Table , previously based at Matchstick Piehouse, now perform weekly, and workshops on cultural co-operatives and community share companies have engaged students and researchers, including Visual Anthropology BA student Laila Hendrickse and collaborators from the Museum of Youth Culture. These sessions explored the sustainability of arts spaces in London, reinforcing SET Social’s role as an affordable, versatile venue.

Through these initiatives, SET Social has established itself as an accessible space for participatory arts, activism, and community engagement. It complements the Associate Members’ Programme and SET Projects while supporting creative and socially engaged practice across Southeast London.

Annual Report 2024

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SET STAGE GALLERY

In response to an open call, SET Social launched Stage Gallery in May 2023 as a non-profit contemporary art space prioritising artists with limited access to creative venues. Founded and run by Elizabeth Alster, who also worked behind the SET Social bar, the gallery is entirely volunteer-led, and its success is a real testament to the time and energy she dedicates to building it.

Stage Gallery runs monthly workshops alongside a public programme of talks, film screenings, reading groups, and other events, and has quickly become a cornerstone of SET Social’s activity.

In November 2024 it officially opened with a solo exhibition by Damsel Elysium, followed by ceramics and pewter workshops led by Tabitha Weddell. All proceeds from sales and ticketed events go directly to participating artists, ensuring the project continues to uphold SET’s ethos of accessibility, affordability, and community engagement in the arts.

SET FILM FESTIVAL 2024

In November 2024, SET Social hosted the second annual SET Film Festival (SFF’24), a five-night programme of contemporary, artist-led, and archival film spread across the month. Building on the inaugural 2023 festival, SFF’24 showcased work from both emerging and established filmmakers, reinforcing SET Social’s role as a communityfocused arts and social hub in Peckham.

Programmed by our Curatorial team — Amina Ali, Ellie Dobbs, and Verity Monroe — the festival featured three curated short film nights, one feature film night, and one archival night. An open call shared with SET’s 1,000+ members and wider networks attracted over 500 submissions, from which 22 short films were selected. Each short film night explored a distinct theme:

• A Rich Seam —emulation and memorialising

• Closed Landscapes —psychogeography and liberation

• • See It My Way —navigating opposing realities and alternative modes of transmission

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Four Daughters screenings, SET Film Festival. Image taken by Dominique Croshaw, November 2024.

The feature programme screened Four Daughters by Kaouther Ben Hania, accompanied by a commissioned essay from Elhum Shakerifar. Archive Film Night celebrated local community voices, with screenings of three UK archival films, a discussion on the Aylesham housing development, and a closing performance by Avalon Choir followed by a DJ set celebrating songs of resistance.

Festival production was a collaborative effort: SET Lewisham members Ashley Kinnard and Eleni Papazoglou designed the posters, open call materials, programmes, and t-shirts, while AV technicians Daniel Gatenio and Aidan Hendrickse delivered cinema-quality screenings using a 4K projector on loan from Goldsmiths University.

With a budget of £7,000, the festival sold more than 600 tickets while keeping prices affordable (£6–£8). By platforming new voices, engaging the local community, and fostering inclusive cultural participation, SFF’24 strengthened SET Social’s mission as a inclusive, affordable space for arts, activism, collaboration, and experimentation.

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ECHOES FROM THE VAULT

SET Vault temporarily closed in October 2024 as SET took steps to address noise management and ensure the space remained a considerate neighbour after two years of activity as a cultural and performance venue in Woolwich. Over the course of the year, we worked to identify the sources of noise complaints, which arose from a mix of events in the venue and activities in studios above. This process was a valuable learning curve in managing a building of this scale. Engagement with local residents and the development of a comprehensive noise strategy demonstrated our commitment to maintaining a responsible, welcoming and community-minded space.

Prior to its closure, the space hosted five to seven events each month in 2024 and helped launch a number of new nights such as SEXTOU, Elastics, Get Sexy, Spectrum , and MASS .

Thursday’s developed into a cornerstone of its programme, beginning with the Community Café and continuing on with film screenings and events into the evening as part of Community Day.

It was through that same openness and sense of possibility that SET Vault’s Venue Manager Annie Dermawan launched her own club night, SLIVER , a celebration of trance-techno, particularly aimed at FLINTA+ communities in May 2024. Queer life has always been central to Vault’s identity, shaped by a strong safer spaces policy and an ongoing collaboration with Safe Only, who provided security and welfare services.

Alongside its artistic programme, SET Vault provided a home for community organising. Groups including the Greenwich Stop the War Coalition and Greenwich Palestine Action regularly used the venue to host panel discussions, meetings, and screenings.

This page: Get Sexy , The Vault in SET Woolwich, April 2024.

Annual Report 2024

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SET INFINITY REHEARSAL ROOM

In October 2024, SET launched SET Infinity, a rehearsal space for members, opening to the public in December 2024. Equipped with high-tech music equipment and sound insulation, the space accommodates large bands and collectives. It has been used by instrumental and electronic groups and as a meeting venue for other community activities. Affordable rates and a growing interest among local artists have established SET Infinity as a practical space for musical practice and collaboration, creating a lively buzz within the building. Plans are underway to assess this model for potential replication at other SET sites.

CHRISTMAS MARKET

SET VAULT CAFE

In December 2024, SET Woolwich hosted its first Christmas market combining sale stalls and workshops. Community response was strong, with participants offering activities such as massage therapy, Lippan art, repair workshops, firepit readings, a magician, and live art performances.

In September 2024, SET Vault opened as a café and social space for SET members and the local community. The café, serving affordable coffee, tea, and cakes supplied by local baker The Creative Sweets , was designed as a common room-style space for members to meet, work, and relax.

The café also provided the opportunity for free initiatives to take place, including one-off or regular workshops, the Community Canteen, and Woolwich Winter Aid. The café is open Tuesday to Friday, 12-6pm, fostering an accessible and welcoming space for the wider Woolwich community.

WOOLWICH WINTER AID

In October 2024, Farnaz Shafei, one of the SET Woolwich studio holders, initiated Woolwich Winter Aid: a donation bank that coincides with the Community Canteen every Thursday. It provided free winter clothing, shoes, accessories, and essential items such as sanitary products to those in need. Stationed next to the Community Canteen serving area, this initiative has added vibrancy to our community Thursdays and strengthened connections between local residents and SET members.

Opposite: SET Vault opens café and social space, September 2024.

Annual Report 2024

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COMMUNITY COMMUNITIES CANTEEN AT THE HEART

Since opening in 2022, the SET Woolwich Community Canteen has brought neighbours, studio members, and local visitors together every Thursday over a simple, shared meal. What began as a foodbank, initiated by SET Woolwich Associate Member Alice Fraser with volunteers and fellow member Tom Hirst, grew into a welcoming sit-down space where people can eat, talk, and connect.

In 2024, SET deepened its commitment to community-led programming across spaces in Peckham, Woolwich, and Ealing. Our focus was on keeping things accessible, bottomup, and rooted in everyday participation, creativity, and connection.

A significant step forward was the appointment of two new Community Officers, Tabitha Weddell and Josh Moseley (who has been Studios Manager at SET Ealing since 2022), who brought fresh insight and care to our outreach and dayto-day activity. They supported projects at SET Ealing, SET Social and SET Woolwich, coordinated long-term initiatives, and helped weave community participation into the wider arts programme. From weekly clubs and workshops to partnerships with local organisations, their work ensured SET spaces were alive with fresh ideas and collaboration.

At SET, this work doesn’t sit apart from our arts programme. Art, activism, and everyday life are intertwined. People cook together, grow food, run book clubs, hold meetings for advocacy, or simply sit down for a conversation. It’s this mix of creativity, social connection, and shared ownership that sit at the heat of SET’s work.

Looking ahead, our goal remains the same: to support neighbours, volunteers, and grassroots groups to lead projects of their own, while keeping SET open, inclusive, and welcoming to all.

Above:

SET Woolwich Community Canteen, 2024. Photo by Charlie Goodall.

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Portions served each week 90%

Attendees from the local community

Volunteer chefs and community members prepared meals using donated ingredients and vegetables from the hand-built community garden. Meals operated on a suggested donation of £3–5, with free meals available for those in need. In 2024, an average of 18–25 portions were served each week, roughly half subsidised for attendees who needed them.

But beyond providing food, the canteen acted as a space for social connection, creativity and skill-sharing. Community members contribute to workshops, gardening projects, and art-making. In summer 2024, activities included ceramic workshops run by Communal Clay CIC, seed bomb making, and sign painting for the garden. Local artist Anabella Cameron also created work inspired by the canteen, culminating in a solo exhibition.

“ Some people come for a warm meal, but many come simply to see familiar faces and join in the day-to-day life of the space, ” says Tabitha Weddell, SET Community Officer and one of the organisers. “It’s rewarding to see people meet, share skills, and get involved in projects around the canteen. You can see a community forming in real time.”

In 2024, participation grew steadily, with over 90% of attendees from the general public and 10–20% studio holders. By linking nourishment, participation, and creative expression, the Community Canteen demonstrates SET’s approach to socially engaged arts practice, shaped and led by community members.

Annual Report 2024

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CLUBS, GROUPS AND SHARED SPACES

At SET, art and social justice are part of the same work. Clubs at SET Social are always free to attend, and we subsidise fundraisers by waiving booking fees so that groups can focus on their cause rather than costs. The space is open to members and local groups who want to propose projects, run workshops, hold meetings, or stage actions. In 2024, our Community Officers helped groups use SET Social and ensured activities remained welcoming and accessible.

Wednesday Club Nights became a new regular fixture, hosting activities from chess and crafts to queer and writers’ groups, reflecting the space’s creative diversity. We also hosted charities and community groups raising awareness or funds for social causes, including Anti-Colonial Reading Group, Language Circle, Southwark and Lambeth Anti Raid , and Palestine support Group, Southwark Solidarity .

MARKETS AND COMMUNITY DAYS

Monthly Community Days and Markets extended SET Social’s openness further. These events offered free or donationbased workshops, food vendors, and stalls for charities and community organisations.

Groups including ACA, Peckham Vision , and Women for Palestine used the markets to reach wider audiences, raise funds, and strengthen networks. Stalls were provided free of charge to ensure accessibility, helping groups focus on their work rather than costs.

The events also brought together local residents, SET members, and visitors, reinforcing SET Social as a shared public space where artistic, social, and civic life overlap.

This approach creates everyday civic spaces where people learn, act, and build relationships. Small conversations grow into ongoing clubs, workshops, and events. Advocacy groups and mutual aid projects use the space for meetings, and artists and writers share skills, making SET Social a platform for both creativity and social justice.

“It’s not just about the activity itself. It’s about knowing there’s a place where you can walk in and feel part of something.”

—anonymous participant at SET Social

Top to bottom: Service Please! affordable supper club, September 2024. Image courtesy of club organisers.

Image credit: Feminist Reading Group, October 2024. Image courtesy of club organisers.

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CASE STUDY: KEYRING AT SET SOCIAL

KeyRing supports adults with disabilities to live independently. In 2024, their local team began using SET Social as a weekly meeting space, bringing 10–15 members together regularly (around one in five of the people they support locally), with as many as 40 attending larger events.

“Our members love the space because it’s accessible, welcoming, and above all fun. The opportunity to link in with other groups and activities has been invaluable,” explains Josie, a KeyRing Support Coordinator.

The impact has been tangible. Mark, a member of KeyRing, became an active volunteer in the community garden, leading sessions on plant care and helping to secure funding for its development. For Suzy, the weekly meet-up became her main social connection. After months of watching pool games, she eventually joined in, and is now competing in a tournament.

In December, KeyRing members hosted a Christmas party at SET Social, complete with food, karaoke, and even an Elvis impersonator. For many, it was their first time experiencing a lively party in a social setting.

“Having a Christmas party at a bar where alcohol and dancing is available may be a given for most people but is frustratingly rare when it comes to parties for adults with disabilities, ” reflects Josie.

“SET has given us the opportunity to do this, and members told us they had a fantastic time, and asked about starting to plan the next one straight away.”

Above: KeyRing charity at SET Social, 2024. Image courtesy of the charity.

“I love it. It’s the best community group I’ve ever been to. The people that work there are very kind, and the garden is a place I like to go to and relax.”

—Bob, KeyRing member who visits SET Social

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CASE STUDY: SET SOCIAL COMMUNITY GARDEN AND FOOD GROWING PROJECT

Launched in August 2024, the SET Social Community Garden became a weekly fixture, with 15-20 participants each Sunday and larger numbers during the summer. Funded through workshops and community donations, the project combines sustainable food growing with social connection.

A core group of volunteers – including SET Social members and participants from local organisations such as KeyRing – facilitate sessions, growing vegetables, sharing produce, and often cooking meals from the harvest.

“The garden at SET Social has taken off in an amazing way and draws in a range of visitors as well as regular volunteers,” says Elle Perkins, SET’s Head of Studios and one of the Community Garden volunteers.

“Watching something grow together brings pride and camaraderie. It’s been more successful than I anticipated, thanks to the dedicated people who give their free time each week.”

The garden has also become a welcoming spot for local residents who want to reconnect with green space close to home. It embodies SET’s ethos of care, participation and creativity, showing how tending plants can nurture community as much as they do the garden itself.

“Teaching people how to grow things is an amazing way to empower people, and providing free nutritious food is an added benefit.”

—Elle Perkins, SET Head of Studios and Community Garden volunteer

This spread:

SET Social Community Garden 2024.

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PARTNERSHIPS AND NETWORKS

In 2024 SET Social deepened its partnerships with local and national initiatives. We joined the Camerados Public Living Room scheme, placing SET Social on a national map of welcoming spaces where anyone can come together. Partnerships with KeyRing and Woolwich Service Users Project further strengthened networks of care and widened participation.

To sustain and grow these connections, SET now hosts regular meet-ups every six weeks, linking organisations working on social, artistic and civic projects. These gatherings provide opportunities to share resources, collaborate, and expand SET’s community directory.

COMMUNITY OUTREACH IN SET EALING

In 2024, SET Ealing continued to establish itself as a vital space for both artistic practice and community activity in West London.

The main project space became an essential venue for artists and local residents, hosting six wide-ranging events across the year. Highlights included exhibitions with Southall Black Sisters, a historic West London organisation supporting survivors of domestic abuse; Afghan Academy’s Nowruz and Refugee Week festivals; and a packed book launch with author and activist Femi Nylander. SET Member Julie Brixey-Williams’s residency brought new work to life, while Claudia Tomlinson’s book launch created an evening of food, conversation and participation.

Alongside the gallery, 2024 saw the opening of a new community space, created through the transformation of a former pawnbrokers. It has already become a vital local venue, hosting solidarity events for Palestine as well as dub afternoons with local DJs and MCs, many of which were spearheaded by local resident and activist Sukant Chandan. Its flexibility has enabled a programme that is responsive and accessible, drawing in audiences who might not otherwise engage with contemporary arts spaces.

Left to right: KeyRing charity at SET Social, 2024. Image courtesy of the charity.

SET Ealing Open Studios 2024. Image taken by Dominique Croshaw.

Ealing’s strength lies in its public-facing character. Both the gallery and community space attract a diverse mix of local people alongside SET’s member artists, making it one of our most integrated and outward-looking centres. Demand for space and programming continues to grow, and there is clear potential to expand the number of events. At present, however, budget constraints limit the ability to employ additional staff for invigilation and coordination. Even so, SET Ealing remains an essential part of the community, offering a rare and accessible venue for artistic, social and political expression.

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STUDIOS: SPACES TO MAKE, SPACES TO GROW

Average number of Associate studio members supported in 2024:

807

Total square footage activated in 2024: 215K

At SET, studios are workspaces where artists, writers, musicians, performers, and makers develop their practice alongside a broader network of creative practitioners. Affordable, accessible, and inclusive, our studios provide space to experiment, collaborate, and grow. We support a wide range of creative disciplines, including visual arts, performance, writing, design, making, and music.

SET is proud to offer some of central London’s most affordable studios, charging an average of £13.08 psf pa across its centres. Inclusive fees cover everything from utilities and 24/7 access to maintenance and shared facilities. By reinvesting all income into building operations and community programmes, SET ensures that affordability and accessibility remain central to everything we do, supporting artists to develop their practice without financial barriers.

Having started SET in January 2024 as the new Head of Studios, I was amazed by the incredible sense of community in the studio buildings and the kindness and hard work of SET staff. SET is a rare example of people genuinely looking to do a good thing—provide affordable spaces so that the arts are more accessible. This means people’s creative ambitions aren't limited by finances and artists aren’t continually forced out of London.

—Elle Perkins, Head of Studios at SET

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STUDIO NETWORK IN 2024

By the end of 2024, SET had 15 centres across seven boroughs, including three openings that year and a further six sites secured. Between all our opened centres, 479 studios were provided, supporting 807 members.

Demand for affordable studios in London remains high. By the end of the year, our waitlist grew by 1,198. This reflects both the scarcity of affordable studios in London and the importance of SET’s model. Despite pressures from redevelopment, temporary leases, and rising costs, SET maintained existing provision and expanded capacity while keeping rents accessible.

The studios department has worked closely with the Infrastructure team throughout 2024 to finesse and streamline working processes to ensure that the everyday operations of the studios run as smoothly as possible. This has been important in an organisation that has grown so quickly and allowed us to continue to prioritise the community-focused aspect of SET's studio provision.”

SET CITY AND NEW CENTRES SIGNED IN 2024

In the final months of 2024, SET launched SET City, a cluster of studio centres in the City of London. This series of sites combines our existing sites at Byward Street and Farringdon with six new acquisitions. By doing so, SET aims to bring affordable and accessible arts programming and studios back into Central London, an area where many artists and organisations have been priced out.

A key part of this expansion is SET Ceramics, supported by the Eastern City Business Improvement District, who funded both the creation and running of the new ceramic studio. Fitted with a kiln, workbenches, and potter’s wheels, SET Ceramics will be managed by Studio Manager Josh Moseley, with community events supported by Tabitha Weddell.

This expansion would not have been possible without the dedication of Mike Martin, who established SET’s property acquisition department and worked tirelessly throughout 2024 to deliver these new sites and secure long-term buildings for the organisation.

New centres signed in late 2024:

• SET Throgmorton - 15-17 Throgmorton Avenue, EC2N 2BY

• SET Ceramics - 35 Crutched Friars, EC3N 2AE

• SET Titchfield - 69-85 Titchfield House, EC2A 4BD

• SET Tabernacle - 91 Tabernacle Street, EC2A 4JN

• SET Lombard Street – 68 Lombard Street, EC3V 9LJ

• SET Hosier Lane EC1A within the Smithfield Conservation Area

Once all sites are completed, SET will provide 673 studios, across 15 centres. This expansion demonstrates SET’s commitment to keeping central London open and accessible to artistic practice while growing capacity to meet rising demand.

—Elle Perkins, Head of Studios at SET

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MANAGEMENT AND OPERATIONS

Our studio management and infrastructure team ensured smooth daily operations and supported members across all centres. Key developments in 2024 include:

• Leadership transitions: Elle Perkins joined as Head of Studios in January, taking over from Director of Studios Jemima Thomas.

• Team expansion: Shirley Moore and Josh Moseley took on additional sites; Milena Szymanek became line manager for Harietta Lindsey the new front-of-house member of staff at Woolwich.

• Operational oversight: The team manages maintenance, compliance, allocations, member support, and site expansion, maintaining accessibility, safety, and community focus.

• Efficiency improvements: Innovations in construction and project management brought new studios online quickly and cost-effectively.

STUDIO DEVELOPMENTS AND HIGHLIGHTS

The following sections highlight key developments across SET’s centres in 2024, showcasing successes, challenges, and the ways in which we continue to adapt and evolve in response to community needs.

SET WOOLWICH

SET Woolwich remains our largest and most dynamic centre, providing 287 studios and 621 artists, the majority of whom (60+%) live in surrounding boroughs, reflecting the site’s deep local embeddedness. Demand continues to be high, with studios filling almost immediately as they become available.

In 2024, we adapted the site to provide more studio space, repurposing an area that had been set aside for private hire but which was underused. The change produced three large studios on the eighth floor and seven new studios on the first floor. SET Vault, our experimental music and performance venue, with a café and garden, continued to enrich the wider community, with programmes such as the Open Series, a monthly skill-sharing and workshops initiative connecting members and the public.

SET Woolwich also awarded free workspace to 15 community organisations including but limited to: Creating Ground CIC, the Greenwich Gurkha Ex-Servicemen Association, Little Bean Theatre, Prabitha Nakshatra, Decolonising the Archive, and BAESIANZ, a collective of Asian heritage artists. These awards underline our commitment to inclusivity and supporting community-led practice.

Right: SET Woolwich Open Studios 2024. Image by Dominique Croshaw

2024 also saw the launch of SET Vault Radio, a community-driven broadcast platform strengthening networks within and beyond Woolwich. SET Vault managers also worked to build and maintain positive community relations. In response to a complaint about noise leakage, we implemented an improved noise reduction strategy and saw the complaint resolved as a result.

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CASE STUDY: CREATING GROUND CIC AT SET WOOLWICH

In 2024, SET provided Creating Ground CIC with a free studio at SET Woolwich, offering the stability and resources the organisation needed to expand its work with migrant women.

Creating Ground works with women from diverse cultural backgrounds, many of whom face barriers such as social isolation, insecure immigration status, and poverty. Through participatory arts and collaborative projects, they create safe aa spaces for women to connect, express themselves, and build confidence.

Before accessing the Woolwich studio, Creating Ground relied on temporary rented venues with little storage. This made it difficult to provide consistency for women who already had few safe, quiet places to be creative.

“Not having a reliable venue meant missed opportunities for expression and connection,” says Rose Knight, the Project Manager at Creating Ground. High hire costs also meant less money for projects and limited opportunities to try new ideas.

The dedicated studio at Woolwich changed everything. With SET covering rent, utilities, and maintenance, Creating Ground could redirect funds into programmes and offer more regular sessions. Members decorated the space with personal objects, prayer mats, and artwork, transforming it into a place where women felt safe to gather, share stories, and support one another.

“You could really see the women felt at home and saw it as a place to step away from daily stresses,” they reflected.

“Having a consistent, private space created a safe environment to share personal stories and turn them into art. It boosted wellbeing and gave women pride in seeing their work valued and shared.”

—Rose Knight, the Project Manager at Creating Ground

Above:

Creating Ground CIC at SET Woolwich. Images courtesy of the charity.

The studio enabled theatre, fabric printing, and storytelling workshops, helping women discover new talents and grow in confidence. One participant who took pride in decorating the space each week, grew into a welcoming host for newcomers and began taking on responsibilities in workshops and events. Others developed facilitation skills, supported by their familiarity with the space and materials.

As Rose put it, “The familiarity of knowing the space so well, its size, and knowing where all the materials were, helped our members to feel comfortable and confident in developing their facilitation skills.”

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SET EALING

SET Ealing continues to thrive as both a studio centre and public venue. With 34 studios largely at capacity, the site has developed a strong reputation for cultural programming. A new community space enabled events such as DJ sessions, solidarity gatherings, and workshops, while the main gallery hosted festivals, book launches, and artist residencies. Highlights included Afghan Academy’s Nowruz and Refugee Week celebrations, and an exhibition with Southall Black Sisters.

The space has become an essential cultural venue for West London, attracting artists and local residents alike. While redevelopment looms, SET continues to work with members and the local community to ensure Ealing remains a lively public-facing creative centre for as long as possible.

SET TOWER GATEWAY

Tower Gateway, one of our smallest and most distinctive sites, remained operational throughout 2024 despite expectations it might close. Its location in the heart of the City, surrounded by high-rise offices and retail chains, makes it a striking beacon of artistic presence in central London.

Members creatively activate the space, transforming streetfacing windows into exhibition areas and collaborating with partners such as VideoCity for moving image projects. For local artists requiring accessible, affordable workspace, Tower Gateway remains a vital resource.

SET NORTH GREENWICH

North Greenwich is one of our most autonomous sites, with a long-standing community of members. A new five-year contract secured the site’s future in 2024, while members themselves took on greater responsibility for compliance and maintenance. This co-management model demonstrates how SET adapts to the strengths of different communities, ensuring sustainability while keeping costs low.

SET FARRINGDON

Opening in mid-2024, SET Farringdon is a unique site: a small basement beneath office buildings. Limitations around “clean” practices and shared access slowed initial occupancy, but affordability and centrality have made it a valuable addition to the SET network. The site has now settled into a productive rhythm, offering rare affordable workspace in the area.

Top to bottom: SET Ealing, Afghan Academy’s Nowruz & Refugee Week Festival. Image taken by Assiya Amini, 2024.

image credit: SET Ealing, interior view of project space. Image taken by Briony Mitchell.

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SET KENSINGTON

After more than two years, we were sad to see SET Kensington close in November 2024 following notice from the landlord. Members expressed strong appreciation for the affordable workspace and supportive community in an area with limited provision. Many have relocated to other SET sites, and the closure was carefully managed to ensure continuity of support.

The success of Kensington reinforced the demand for affordable studios in West London and strengthened SET’s commitment to pursuing new opportunities in the area.

SET LEWISHAM

Lewisham remains home to two high-demand SET sites. Lewisham High Street (11 studios) remains fully occupied throughout the year, with very little movement in and out of studios. As a result, the community remains largely the same as the one that first came together in SET’s original centre at Alscot Road, giving this site a sense of stability and continuity.

Lewisham Retail Park, one of our longest-standing centres, hosts 26 studios for 77 members, as well as a project space for our Associate members programme. Retail Park’s 2024 programme included ambitious exhibitions, such as Relative Shapes and Ashleigh Fisk’s I Will Live Many Years in This Room , combining live performance and installation. External improvements, including graffiti removal and repainting, reinforced the centre’s presence as a living cultural space. With the lease extended until at least 2026, Lewisham Retail Park remains a cornerstone of SET’s provision.

CLOCKWORK STUDIOS, CAMBERWELL

In March 2024, SET assumed management of Clockwork Studios, a well-established community of 24 artists, some of whom have been in the building for decades. As a result management required sensitivity, but the response from members was overwhelmingly positive.

Clockwork members were integrated into SET’s wider network as Associate Members, gaining access to SET Social and the public programme. This preserves the long-standing identity of Clockwork while opening new opportunities for collaboration and exchange.

Top to bottom: SET Kensington Open Studios 2024.

Image credit: Clockwork Studios, 38B Southwell Rd, London, SE5 9PG.

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BEHIND THE STUDIOS: INFRASTRUCTURE AT SET

Infrastructure is the backbone of SET’s studio network.

From compliance and facilities management to in-house construction and safety systems, the infrastructure team ensures that every site is safe, functional, and fit for creative use. In 2024, SET invested significantly in strengthening this foundation, building capacity within the team and laying the groundwork for sustainable growth.

TEAM AND LEADERSHIP

The appointment of Mark Taylor as Facilities Manager in April marked a major step forward. With a NEBOSH certificate and a background in commercial and residential facilities management, he has become a valuable asset to the team. Mark now oversees compliance, planned maintenance, and contractor management across all sites. His role allows the wider team to focus more directly on supporting members while ensuring every building meets essential safety and operational standards.

SYSTEMS AND OPERATIONS

In 2024, infrastructure management expanded to include utilities and cleaning, creating more streamlined and accountable systems. The programme team also benefited from improvements such as new gallery storage at each site, updated risk assessment templates, and a forthcoming centralised booking system.

Between April and June alone, the infrastructure team carried out twelve service visits, including fire alarm and emergency lighting servicing. Challenges remain, particularly around utilities billing and lift reliability in Woolwich, but new systems for monitoring and planning have strengthened resilience across the portfolio.

SAFETY AND CONSTRUCTION INNOVATION

This year also saw major progress in developing in-house construction capacity. For SET Social in Peckham, the team designed and built an accessible toilet entirely in-house, saving thousands in external costs and prototyping a modular system for future sites. In Woolwich, a fire risk assessment identified issues with signage and evacuation routes, resolved swiftly with new maps and signage. Further work included converting the eighth floor into modular studios designed for flexibility and affordability. These projects both improved safety and demonstrated SET’s ability to adapt spaces costeffectively.

LOOKING AHEAD

In 2025, the infrastructure team will expand to keep pace with SET’s rapid growth. Closer integration with the build team will further enhance responsiveness and efficiency, ensuring every new centre can be adapted quickly, safely, and affordably.

Infrastructure may be invisible, but it is central to SET’s mission. By building in-house skills, investing in compliance and safety, and planning for sustainable growth, we ensure that every SET space remains affordable, accessible, and fit for purpose. For that reason, we want to highlight the incredible work of Infrastructure Technicians Aidan Hendrickse and Lewis Martin, Head of Infrastructure Daniel Gatenio, and Build Team Manager Ruairi Mangan-Cliff, whose ongoing dedication has been vital in resolving issues across SET centres and supporting the smooth running of our building.

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CULTURE IN THE PLANNING

Opposite:

SET Studio Managers and Second Floor Studios as part of LAASN meet at Wembley Park. August 2024. Image courtesy of LAASN.

A central part of SET’s wider work is advocating for the arts and for artists at local, London-wide, and national levels. Previously, SET was part of the working group contributing to the Borough of Lewisham’s 2023 Affordable Workspace Strategy, and different parts of SET’s team regularly engage with public and private entities to advance the arts, including meetings with the Greater London Authority, local councils, research bodies, and lectures at universities such as Camberwell (UAL).

Since joining London’s Affordable Artists’ Studio Network (LAASN) in 2020, shortly after its inception, SET has played a central voice in shaping and guiding the network. In 2024, SET’s Co-Director Roland Fischer-Vousden continued supported the serving chairs and contributed to LAASN’s research, demonstrating that the network represents the voice of the affordable artists’ studios sector in London.

Collectively, LAASN organisations supported one-third of London’s artists, delivered 900,000 square foot of space, and worked across 60% of the city’s boroughs. Looking ahead to 2025, LAASN aims to continue to use this platform to strengthen its voice speaking for artists and the arts in London.

SET will continue to work independently and within LAASN to advocate for the arts, specifically focusing on ensuring genuinely affordable spaces for artists and communities. These spaces broaden participation in the arts and function as welcoming community anchors, while supporting a broad experimental and collaborative understanding of artistic practice. SET’s advocacy emphasises the role of arts spaces as a central organising principle for bring people together and fostering cultural exchange.

London’s Affordable Artists’ Studio Network (LAASN) Logo

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TRUSTEES’ REPORT

The Trustees present their annual report together with the audited financial statements of the Set Centre CIO for the year ended 31 December 2024.

The accounts and annual report comply with the requirements of charity legislation and have therefore been prepared in accordance with the Charities Act 2011, and the Statement of Recommended Practice and Charities SORP (FRS 102, effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

A. POLICIES AND OBJECTIVES

SET exists to promote, improve, and advance education in, and appreciation of, the arts, primarily through facilitating workshops, arts projects, and community engagement for the public benefit. Our mission is to provide affordable, accessible and inclusive spaces across London where artists and local communities can explore experimental practices, develop their creative skills, and engage in cultural exchange. SET seeks to strengthen connections between artists and the public while supporting diverse voices and inclusive participation.

SET’S GOALS

EXECUTIVE INFORMATION

Registered Charity name SET Centre trading as SET

Registered Charity number 1170903 (England and Wales)

������������������������ SET Woolwich, Riverside House, London, SE18 6BU

Trustees

Mr Robert Albert John McLaren (Chair) Dr Alexandra Marie Bickley Trott Ms Amy Vanessa Brennan Dr Alexander James Thomas

Directors/Senior Leadership Josh Field Ollie Tobin Roland Fischer-Vousden

Auditors

Axis Accountants Ltd, Zeal House, 8 Deer Park Road, Wimbledon, London, SW19 3GY

• To create communities of artists at SET centres making and presenting work: this means curating an exciting, high-quality and collaborative arts programme, as well as providing good quality, genuinely affordable artists’ studios, supporting our Associate Membership to grow. These communities foster socially engaged practices, encouraging artists to explore themes of equity, inclusion, and social justice through their work.

• To be as affordable as possible: SET’s aim is to create arts programmes and artists’ studios which are actually affordable. This is the salient factor in advancing the arts, broadening access, and supporting artists whose practice engages with social issues and community impact.

• • To expand our meanwhile use provision and to create permanent centres: SET’s aim is to continue to run meanwhile use projects because it is the best way to provide genuinely affordable arts programmes and studios for artists in London immediately. SET also aims to secure its and artists’ future in the capital by purchasing freeholds or leaseholds.

• To make our programme as brilliant as it can be: SET’s programme is very broad and is divided into different strands which broadly fall under either the Associate Members’ Programme or SET Projects. The programme includes a visual arts programme, an innovative music

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programme, a broad cross-disciplinary programme which focuses on literature and community-oriented events, and creating social space for people to meet. Many of these initiatives explicitly engage with social issues, embedding the principles of social justice in artistic practice.

• To be a place for communities to gather: SET centres are arts centres but we also endeavour to make the centres places for all parts of the community to meet, be this through workshops, offering space to community groups, or initiatives aimed at offering solutions to local needs.

• • Being a voice for the arts: we wish to continue to engage with other organisations to make SET’s voice heard and to advocate on behalf of our communities. Working with other organisations to represent the interests of our 800+ Associate Members and our 3,500+ SET Social members.

As a further elucidation of those goals, SET is open to all and it is imperative that applications to become an Associate Member of SET are not subject to any ‘quality’ filter.

However, SET aims to:

• (a) have an Associate Membership which:

• i. reflects the diversity of the local community,

• ii. over 50% local residents (local to that specific SET Centre);

• (b) be an organisation that gives a voice to the Associate Membership, so as to best meet the needs of the local community and keep abreast of developments in contemporary art;

• (c) provide the community with better access to an arts and educational programme both in person and digitally:

• i. focus on collaboration across disciplines, especially music, art and writing;

• ii. develop a programme which reflects the local community,

• iii. further define and offer clarity in our programme to develop its identity and reputation;

• (d) develop facilities and spaces which are accessible to a wide demographic and are considered safer spaces (especially in social activities and night-culture);

• (e) develop good relationships with other local community organisations.

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, including the guidance 'Public benefit: running a charity (PB2)'.

B. STRATEGIES FOR ACHIEVING OBJECTIVES

To achieve these objectives, SET:

• Creates communities of artists at SET centres through a collaborative arts programme, high-quality exhibitions, and genuinely affordable studios.

• Ensures affordability of arts programmes and studios to broaden access and support socially engaged practices.

• • Expands while use projects and pursues permanent centres to provide sustainable spaces for artists and communities.

• • Delivers a wide-ranging programme across visual arts, music, literature, and community-oriented events that embed social justice principles in artistic practice.

• Provides venues for communities to meet, including workshops, community group spaces, and initiatives addressing local needs.

• Advocates for the arts and represents the interests of our 800+ Associate Members and 3,500+ SET Social members.

C. ACTIVITIES UNDERTAKEN TO ACHIEVE OBJECTIVES

To achieve our objectives, SET undertook a range of activities in 2024 that directly delivered public benefit:

• Curated a multidisciplinary public programme, spanning exhibitions, music nights, performances, workshop, talks, residences, and film events that promote learning and public engagement with the arts. In 2024 the programme ran across SET Social, the Vault, and other project spaces.

• Supported Associate Members to curate exhibitions and run events, providing studio holders with opportunities to experiment, collaborate and platform their work.

• Provided genuinely affordable studios for artists (215,000 sqft across SET centres and supported over 800 members as of 31 December 2024), enabling them to sustain and develop their practice and contribute to local cultural life.

• • Offered opportunities for community access and participation by keeping membership costs low (including free local membership where offered), providing subsidised and free use of space for community groups, and running clubs and learning activities that improve wellbeing, skills and civic participation.

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• Worked with networks such as London’s Affordable Artists’ Studio Network (LAASN) to influence cultural policy and safeguard and expand affordable space for artists in London.

• Encouraging connections between artists, musicians, writers, and other practitioners to foster creative exchange and collaboration through SET Projects, our Associate Member’s Programme, and other communityfocused events.

D. SOCIAL INVESTMENT POLICIES

SET does not currently engage in formal social investments but prioritises subsidising community and artist-led initiatives as a form of indirect social investment.

E. GRANT-MAKING POLICIES

SET does not operate a formal grant-making programme. However, the charity provides subsidised and, where possible, free access to space and programmes for community groups and Associate Members. This approach ensures that community organisers and artists can focus on their artistic and social impact rather than costs.

F. VOLUNTEERS

SET’s programmes are primarily delivered by staff and Associate Members. However, in 2024, volunteers contributed to the SET Woolwich Community Canteen, supporting food preparation and service for local residents. People volunteer for SET in line with our policy on volunteering for the charity. More details can be found in our Community and Engagement section on page 33.

G. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR THE PUBLIC BENEFIT

Through the activities laid out in c), SET advances education and appreciation of the arts, supports artists’ livelihoods, and broadens access to creative opportunities in line with its charitable purposes.

ACHIEVEMENTS AND PERFORMANCE

A. MAIN ACHIEVEMENTS OF THE CHARITY

Further details on 2024 activities is set out in the dedicated sections of this report, including arts and music programming, community engagement, and studio and infrastructure. These activities have advanced education and public engagement in the arts, provided affordable opportunities for artists, and ensured community participation.

B. KEY PERFORMANCE INDICATORS

Key performance indicators for 2024 are summarised in the “2024 in Numbers” section on page 9 of this report.

C. REVIEW OF ACTIVITIES

SET’s activities in 2024 focused on providing affordable, inclusive, and high-quality artistic opportunities. Highlights included crossdisciplinary programmes across visual arts, music, and literature; community workshops and learning sessions; and events that engaged with social justice themes. These activities strengthened connections between artists and the wider community, supporting both creative development and civic engagement.

D. FACTORS RELEVANT TO ACHIEVING OBJECTIVES

Factors enabling achievement of SET’s objectives in 2024 included:

• Provision of affordable and accessible studio spaces, including 215,000 sq ft across SET centres, enabling artists to sustain and develop their practice while contributing to local cultural life.

• Maintaining subsidised access for community groups and artists, ensuring financial barriers did not limit participation in workshops, events, and programmes.

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• Access to versatile programming spaces such as SET Social, the Vault, and other project spaces, supporting exhibitions, performances, workshops, and community-led initiatives.

FINANCIAL REVIEW

• Active engagement of Associate Members, ensuring programmes were co-designed, community-led, and responsive to local needs and contemporary artistic developments.

• Partnerships and collaborations with local organisations and networks such as LAASN.

• Strong governance and strategic planning, enabling SET to respond to opportunities, manage resources effectively, and sustain long-term impact.

E. FUNDRAISING ACTIVITIES AND INCOME GENERATION

SET does not undertake traditional public fundraising. Income is generated through studio rentals, membership fees, and selected events, with additional support from occasional grants, in-kind contributions, and partner funding. All income is reinvested to deliver programmes, maintain affordable spaces, and support community participation in line with the charity’s objectives. Individual arts projects within SET involve taking donations towards other humanitarian causes as is reported above, in line with the aims of our arts programming.

F. INVESTMENT POLICY AND PERFORMANCE

SET does not hold significant financial investments. Any surplus funds are reinvested into programmes, facilities, and community support to further the charity’s purposes.

G. DUTY TO PROMOTE THE SUCCESS OF THE CHARITY TO ACHIEVE ITS CHARITABLE PURPOSES

SET promotes its success by delivering accessible, inclusive, and high-quality arts programmes, providing affordable studio spaces, and supporting community engagement. Through its Associate Members’ Programme, SET Projects, and partnerships with local organisations, the charity ensures that artists and the public benefit from educational and cultural opportunities in line with its charitable objectives.

A. GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

B. RESERVES POLICY

SET holds limited reserves but aims to build financial resilience through annual surpluses and long-term site acquisition. In 2024, there was a deficit of £324,292 in reserves at the end of the year. This is attributable to the significant investment made in the new sites opened towards the end of the financial year.

SET aims to increase the annual surplus by £100,000 per annum to build further reserves. SET aims to build resilience through negotiating better contracts on meanwhile use sites with more funding offered by interested parties to create new centres, as well as working towards the purchase of assets, i.e. purchasing freeholds and leaseholds on new SET Centres.

C. DEFICIT

SET recorded a deficit of £201,238 during the financial year and the balance sheet currently shows a deficit of £324,292 as of 31 December 2024. It should be acknowledged that this was a year in which 6 new sites were opened late in the year. As expected, the opening of these new sites has resulted in a need for upfront investment and initial losses as they get up and running, which has largely contributed to the results for the financial year. Since the year end, these sites have begun to recover those initial losses, are running with a surplus and are projected to continue to do so.

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D. MATERIAL INVESTMENTS POLICY

SET does not hold significant financial investments. Any surplus funds are reinvested in programmes, facilities, and community support to further the charity’s purposes.

E. PRINCIPLE RISKS AND UNCERTAINTIES

Key risks to the charity include:

• Loss of centres and core income due to the meanwhile-use nature of buildings

• Rising fixed building costs (eg electricity)

• • Risks associated with older buildings (flooding, maintenance)

• • Inability to recover debts from Associate Members

Mitigation measures in place include proactive landlord engagement, diversifying and developing new sites, implementation of direct debit for rent collection, strengthened debt recovery processes, ongoing planned maintenance and statutory compliance, and the development of in-house construction and maintenance skills to reduce reliance on external contractors.

F. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

SET manages financial risks through robust budgeting, monitoring of income streams, and tight financial controls. Systems are in place to ensure timely collection of rents and monitoring of operational costs, with external accountants supporting the charity in enhancing financial oversight.

G. PRINCIPAL FUNDING

SET’s main source of income remains affordable artists’ studio rent, complemented by grant funding and rent from contracted companies. In 2024, SET tightened financial controls by Ami Upal joining the finance team as an accounts receivable assistant to Emily Mahon. Ami brought years of charity sector accounts management experience. Similarly, SET continued to improve policies and procedures around acquiring funding sources. SET continues to work with external accountants to enhance financial controls, budgeting, and monitoring.

STRUCTURE, GOVERNANCE AND MANAGEMENT

A. CONSTITUTION

SET Centre CIO is a registered charity (number 1170903) and is constituted under a Trust deed.

B. METHODS OF APPOINTMENT OR ELECTION OF TRUSTEES

The management of the Charity is the responsibility of the Trustees, who are elected or co-opted under the terms of the Trust deed. Trustees serve fixed one-year terms, renewable by resolution at Trustees’ meetings.

C. ORGANISATIONAL STRUCTURE AND DECISION-MAKING POLICIES

The CIO is governed by its Trustees: Amy Brennan, Dr Alexandra Bickley Trott, Dr Alexander J Thomas, and Robert McLaren (Chair). Trustees possess skills across business management, community engagement, artistic practice, academia, construction, and policy.

During the year, the Trustees have considered the requirements of the Charity Governance Code—organisational purpose, leadership, integrity, decision making, risk and control, board effectiveness, equality, diversity and inclusion, openness, and accountability—and believe these principles are consistent with how SET is governed.

A register of Trustees’ and senior staff interests is maintained. Any potential conflicts are declared and managed in accordance with the charity’s conflicts policy.

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SENIOR LEADERSHIP, MANAGEMENT AND OTHER STAFF

SET was founded by its three current Directors, Roland FischerVousden, Joshua Field, and Oliver Tobin. The Founder-Directors lead on the overall strategy, including the acquisition of new SET Centres and the overall direction of the charity, reporting to the Trustees and working with the Management Team on execution.

The Management Team oversees the day-to-day operations of SET and contributes bi-annual reports to the Trustees. In 2024, the Management Team consisted of:

• Director of Studios: Jemima Thomas (role ended in January) replaced by Head of Studios Elle Perkins

• • Curator: Ellie Dobbs

• Venue Manager: Annie Dermawan and Hermione Shaw

• Head of Infrastructure: Daniel Gatenio

• Community Engagement: Tabitha Weddell and Josh Moseley

• Accounting: Roland Fischer-Vousden

Each head of department manages their respective teams: the Head of Studios oversees studio operations, the Head of Infrastructure manages buildings and technology, and the Curator leads the arts programme.

The curatorial programme is collaborative and artist-led, involving the Management Team, contracted staff, and Associate Members. As of 2024, the curatorial team includes Verity Monroe (Curatorial Assistant) and Amina Ali (Curatorial Researcher).

SET’s financial operations are managed by a small, dedicated team. Emily Mahon oversees Accounts Receivable and began line-managing Accounts Receivable Assistant Ami Upal in 2024. Accounts and Invoicing are handled by Aanuoluwapo Oshikoya, who continued to manage the weekly pay run.

The team maintains a considerate approach to collecting Associate Membership fees while applying stricter measures where necessary to prevent members accumulating debt.

Each Studio Manager oversees multiple centres and serves as the primary contact for Associate Membership inquiries:

• Shirley Moore: SET Kensington, Lewisham Retail Park, Lewisham High Street

• Josh Moseley: SET Ealing, Farringdon, North Greenwich, Tower Gateway (also community coordinator)

D. POLICIES ADOPTED FOR THE INDUCTION AND TRAINING OF TRUSTEES

Trustees receive induction on the charity’s structure, objectives, and governance. They are provided with key policies, financial information, and guidance on compliance with the Charity Governance Code and public benefit guidance. Trustees are encouraged to undertake relevant training and development as required.

E. PAY POLICY FOR KEY MANAGEMENT PERSONNEL

SET’s pay policy is designed to ensure that all staff are fairly and appropriately rewarded for the work they do, in line with our values as a kind, agile and inclusive organisation. Securing and retaining the right people is key to delivering our strategy.

Pay increases are considered annually in consultation with the charity’s management team and reviewed and approved by the Trustees. SET is an accredited London Living Wage Employer, and in 2024 no member of staff was paid below the London Living Wage rates of £13.15 and £13.85 per hour.

Our approach seeks to balance:

• Equality and fairness – maintaining a low pay differential between the lowest and highest earners, significantly lower than comparable organisations of similar size;

• Responsible financial management – ensuring pay levels are sustainable and appropriate to the charity’s resources;

• Market competitiveness – benchmarking salaries against comparable roles in the charity sector using independent external HR data.

Through these principles, we aim to provide fair, competitive, and sustainable pay that reflects the complexity and responsibilities of each role while ensuring that every colleague is paid a real living wage.

• Milena Szymanek: SET Woolwich

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F. RELATED PARTY RELATIONSHIPS

SET’s Trustees and key management personnel are required to declare any interests that could give rise to a potential conflict and to withdraw from decisions where a conflict may arise. The charity maintains a register of interests and follows its Conflict of Interest Policy in managing these matters. During the year ended 31 December 2024:

• No trustee received any remuneration or other benefit from the charity for their role as trustee.

• No trustee or other related party had any personal interest in transactions or contracts entered into by the charity other than those disclosed below.

• Key management personnel are paid in accordance with the charity’s pay policy, approved by the trustees and disclosed in the financial statements.

• Trustees and key management personnel may from time to time attend or participate in events organised by SET in a voluntary or artistic capacity, without preferential treatment.

G. FINANCIAL RISK MANAGEMENT

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

H. TRUSTEES’ INDEMNITIES

Trustee indemnity insurance is in place at a limit of £1,000,000 through RSA Insurance Group plc.

I. ENGAGEMENT WITH SUPPLIERS, CUSTOMERS, AND OTHERS

SET’s programme and centres are delivered by a mix of permanent staff, contractors, volunteers and Associate Members.

The charity currently contracts with three companies: Rex Refreshments Ltd, Rex Pictures Ltd, and Rex Arts Ltd, all of which have directors who are also directors of SET Centre CIO.

These companies were established to further the charitable aims of SET by supporting its programme and operations.

Rex Refreshments Ltd operates the bar and refreshments offer at SET Social, supporting the daily arts and community programme. During the year, SET Centre CIO rented space to Rex Refreshments, a company connected by virtue of common control. Rental payments of £36,000 were received in the year from Rex Refreshments Limited in respect of the year to 31 December 2024. In addition, a further £4,675.34 of rental payments for FY25 were made in advance along with a nil interest loan of £31,824.66 to ease cash flow. At the year end, £4,675.34 was still owing to Rex Refreshments Limited. The amounts advance are unsecured and repayable on demand.

Rex Pictures Ltd manages film and photoshoot activity in SET spaces, generating income that supports SET’s charitable objectives.

Rex Arts Ltd is currently a dormant company.

Each of these companies pay profits to SET Centre CIO in accordance with formal agreements approved by the Trustees. The arrangements are reviewed regularly by the Trustees to ensure compliance, transparency, and value for the charity.

Associate Membership is open to all and not subject to quality filtering. Members contribute to the charitable objectives, participate in the Associate Members’ Programme, and access studios at SET Centres. In 2024, over 800 Associate Members were enrolled. Membership of SET Social exceeded 3,000, also with open access. SET aims for over 50% of Associate Members at each centre to be local residents.

PLANS FOR FUTURE PERIODS

SET continually plans for the future to ensure the charity can provide affordable art spaces, support its members, and deliver high-quality programmes across London. The following outlines key priorities and areas of focus as we move into 2025:

1. To open enough new sites to continue to add a minimum of 20,000 square foot per annum to SET’s buildings;

2. In 2025 to work on a large site to replace SET Woolwich which is likely to come to an end in 2025 or 2026;

3. To secure long-term centres to bring further stability to the organisation;

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1. Expand the Associate Members’ Programme by providing more opportunities for members to showcase their work.

2. Expanding our Community Outreach programme and SET-curated work, with the launch of a new gallery at SET Titchfield

3. Collaborate with LAASN and other networks to advocate for affordable artist studio policy and influence local council decisions affecting cultural spaces.

4. Strengthen financial resilience by increasing unrestricted reserves, improving budgeting, and exploring long-term site acquisition (freeholds/leaseholds).

5. To hire key roles in Finance, Communications, Property Acquisitions and Partnerships, and if feasible, HR.

J. ENGAGEMENT WITH EMPLOYEES AND EMPLOYMENT OF THE DISABLED

Employees have been consulted on issues of concern to them by means of regular consultative committee and staff meetings and have been kept informed on specific matters directly by management. The Charity carries out exit interviews for all staff leaving the organisation and has adopted a procedure of upward feedback for senior management and the Trustees.

The Charity has implemented a number of detailed policies in relation to all aspects of personnel matters including:

• Equal Opportunities policy

• Volunteers' policy

• Health and Safety policy

• Safer Space Policy

• Complaints Against Members and Staff Policies

• Associate Membership, Licence Agreements, and Terms & Conditions

• Other policies forming the Staff and Associate Members Handbooks

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with the Charity's equal opportunities policy, the Charity has long-established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the Charity's offices.

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DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

• so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and

• that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

AUDITORS

The auditors, Axis Accountants Ltd, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on 31 October 2025 and signed on their behalf by:

INDEPENDENT AUDITOR’S REPORT TO TRUSTEES AND MEMBERS

Robert Albert John Mclaren (Chair of Trustees)

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OPINION

We have audited the financial statements of Set Centre CIO (the 'charity') for the year ended 31 December 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

EMPHASIS OF MATTER

We draw attention to note 21 in the financial statements, which indicates that charity's negative net assets may effect the charity's ability to continue as a going concern. The trustees have addressed this issue and of the opinion that charity will have surplus funds in the following tewelve months period. Our opinion is not modified in respect of this matter.

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OTHER INFORMATION

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns; or we have not received all the information and explanations we require for our audit.

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are

responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and responding to risks of material misstatement due to fraud:

To identify risks of material misstatement due to fraud ("fraud risks") we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

1. Enquiring of management and trustees about charity's policies and procedures to prevent and detect fraud, as well as whether they have knowledge of any actual, suspected or alleged fraud.

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1. Using analytical procedures to identify any unusual or unexpected relationships.

2. We communicated identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit.

We performed procedures to address the risk of management override of controls and the risk of fraudulent revenue recognition, and the risk that management may be in a position to make inappropriate accounting entries.

We did not identify any additional fraud risks. We also performed procedures including:

1. Identifying journal entries and other adjustments to test based on risk criteria and comparing the identified entries to supporting documentation. These included unexpected revenue account combinations and journals posted to seldom used accosts during the financial year.

2. Evaluated the business purpose of significant unusual transactions. Identifying and responding to risks of material misstatement due to non-compliance with laws and regulations:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the management (as required by auditing standards) and discussed with the trustees and other management the policies and procedures regarding compliance with laws and regulations

.

We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

Context of the ability of the audit to detect fraud or breaches of law or regulation: Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remained a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

USE OF OUR REPORT

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

Axis Accountants Ltd

Chartered Certified Accountants & Registered Auditors Zeal House 8 Deer Park Road London SW19 3GY

31 October 2025

Axis Accountants Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 DECEMBER 2024

Note Income from: Donations and legacies 3 Charitable activities 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward 3 Net movement in funds 4 Total funds carried forward	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 200 - 200 _888 1,440,705 85,725 1,526,430 1,472,219 60,674 - 60,674 13,687 1,501,579 85,725 1,587,304 1,486,794 1,738,862 49,680 1,788,542 1,452,488 1,738,862 49,680 1,788,542 1,452,488 -237,283 36,045 -201,238 34,306 -137,787 14,733 -123,054 -157,360 -237,283 36,045 -201,238 34,306 -375,070 50,778 -324,292 -123,054
		200		-	200
		1,440,705		85,725	1,526,430
		60,674		-	60,674
		1,501,579		85,725	1,587,304
		1,738,862		49,680	1,788,542
		1,738,862		49,680	1,788,542
			-237,283	36,045		-201,238
			-137,787	14,733		-123,054
			-237,283	36,045		-201,238
			-375,070	50,778		-324,292

BALANCE SHEET AS AT DECEMBER 2024

Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current liabilities Total assets less current liabilities Net liabilities excluding pension asset Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds			2024 £ _2023 £ 82,460 _113,325 82,460 113,325 264,099 8,117 272,216 (508,595)	2023 *£
				113,325
				113,325
			(406,752) (324,292) (324,292) (324,292) 50,778 (375,070) (324,292)	(236,379)
				(123,054)
				(123,054)
				(123,054)
				14,733
				(137,787)
				(123,054)

The financial statements were approved and authorised for issue by the Trustees on 31 October 2025 and signed on their behalf by:

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 85 to 98 form part of these financial statements.

Mr Robert AJ Mclaren Chair of Trustees

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STATEMENT OF CASH FLOWS

Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year	2024 £ _2023 £_	2024 £ _2023 £_
		44,224 (6,741)
		-
		-
		44,224 (6,741)
		8,117 14,858
		52,341 8,117

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER

1. GENERAL INFORMATION

The charity is registered charity as Charitable Incorporated Organisation (CIO) - Foundation in England and Wales. The address of principal office is SET, Riverside House, Beresford Street, London, SE18 6BU

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements 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),

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the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Set Centre CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.4 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

2.2 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.3 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Depreciation is provided on the following bases: Fixtures and fittings: - 12.5% straight line method Office equipment: - 25% reducing balance method

2.5 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.6 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.7 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the

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present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.8 FINANCIAL INSTRUMENTS

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.10 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. INCOME FROM DONATIONS AND LEGACIES

AND LEGACIES
Donations Total 2023	Unrestricted funds 2024 £ Total funds 2024 £ Total funds 2023 *£ 200 200 888 888 888

4. INCOME FROM CHARITABLE ACTIVITIES

Affordable Artists’ Workspace Arts' Programme Creation of New Arts Centres Humanitarian Aid Total 2023	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 1,438,927 - 1,438,927 _1,442,971 1,778 25,830 27,608 29,248 - 45,600 45,600 - - 14,295 14,295 - 1,440,705 85,725 1,526,430 1,472,219 1,445,963 26,256 1,472,219	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 1,438,927 - 1,438,927 _1,442,971 1,778 25,830 27,608 29,248 - 45,600 45,600 - - 14,295 14,295 - 1,440,705 85,725 1,526,430 1,472,219 1,445,963 26,256 1,472,219	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 1,438,927 - 1,438,927 _1,442,971 1,778 25,830 27,608 29,248 - 45,600 45,600 - - 14,295 14,295 - 1,440,705 85,725 1,526,430 1,472,219 1,445,963 26,256 1,472,219
		1,438,927	-
		1,778	25,830
		-	45,600
		-	14,295
		1,440,705	85,725
		1,445,963	26,256

5. OTHER INCOMING RESOURCES

Other income Bank interest received Total 2023	Unrestricted funds 2024 £ Total funds 2024 £ Total funds 2023 *£ 60,535 60,535 13,593 139 139 94 60,674 60,674 13,687 13,687 13,687	Unrestricted funds 2024 £ Total funds 2024 £ Total funds 2023 *£ 60,535 60,535 13,593 139 139 94 60,674 60,674 13,687 13,687 13,687
		60,535
		139
		60,674
		13,687

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6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES SUMMARY BY FUND TYPE

Affordable Artists’ Workspace Other income Arts’ Programme Humanitarian Aid Total 2023	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 1,698,847 - 1,698,847 _1,422,627 40,015 35,385 75,400 29,861 - 14,295 14,295 - 1,738,862 49,680 1,788,542 1,452,488 1,440,965 11,523 1,452,488	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 1,698,847 - 1,698,847 _1,422,627 40,015 35,385 75,400 29,861 - 14,295 14,295 - 1,738,862 49,680 1,788,542 1,452,488 1,440,965 11,523 1,452,488	Unrestricted funds 2024 £ Restricted funds 2024 £ Total funds 2024 £ Total funds _2023 £ 1,698,847 - 1,698,847 _1,422,627 40,015 35,385 75,400 29,861 - 14,295 14,295 - 1,738,862 49,680 1,788,542 1,452,488 1,440,965 11,523 1,452,488
		1,698,847	-
		40,015	35,385
		-	14,295
		1,738,862	49,680
		1,440,965	11,523

7. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Affordable Artists' Workspace Arts' Programme Humanitarian Aid Total 2023	Activities undertaken directly 2024 £ Support costs 2024 £ Total funds 2024 £ Total funds _2023£ 1,472,559 226,288 1,698,847 _1,422,627 75,400 - 75,400 29,861 13,990 305 14,295 - 1,561,949 226,593 1,788,542 1,452,488 1,222,955 229,533 1,452,488	Activities undertaken directly 2024 £ Support costs 2024 £ Total funds 2024 £ Total funds _2023£ 1,472,559 226,288 1,698,847 _1,422,627 75,400 - 75,400 29,861 13,990 305 14,295 - 1,561,949 226,593 1,788,542 1,452,488 1,222,955 229,533 1,452,488	Activities undertaken directly 2024 £ Support costs 2024 £ Total funds 2024 £ Total funds _2023£ 1,472,559 226,288 1,698,847 _1,422,627 75,400 - 75,400 29,861 13,990 305 14,295 - 1,561,949 226,593 1,788,542 1,452,488 1,222,955 229,533 1,452,488
		1,472,559	226,288
		75,400	-
		13,990	305
		1,561,949	226,593
		1,222,955	229,533

7.1. ANALYSIS OF DIRECT COSTS

Staff costs Fixed building costs Maintenance and management Welfare and social Water, light and heat Technology Legal and professional Insurances General expenses Arts programme Depreciation Direct charitable activity Total 2023	Affordable Artists’ Workspace 2024 £ Arts’ Programme 2024 £ Humanitarian Aid 2024 £ Total funds 2024 £ Total funds 2023 *£ 388,256 - - 388,256 270,475 237,617 - - 237,617 227,507 341,598 - - 341,598 235,507 1,397 - - 1,397 337 362,882 - - 362,882 352,792 30,575 - - 30,575 32,312 58,918 - - 58,918 26,864 2,885 - - 2,885 16,671 10,624 - - 10,624 2,417 - 75,400 - 75,400 29,861 37,807 - - 37,807 28,212 - - - 13,990 - 1,472,559 75,400 13,990 1,561,949 1,222,955 1,193,094 29,861 - 1,222,955	Affordable Artists’ Workspace 2024 £ Arts’ Programme 2024 £ Humanitarian Aid 2024 £ Total funds 2024 £ Total funds 2023 *£ 388,256 - - 388,256 270,475 237,617 - - 237,617 227,507 341,598 - - 341,598 235,507 1,397 - - 1,397 337 362,882 - - 362,882 352,792 30,575 - - 30,575 32,312 58,918 - - 58,918 26,864 2,885 - - 2,885 16,671 10,624 - - 10,624 2,417 - 75,400 - 75,400 29,861 37,807 - - 37,807 28,212 - - - 13,990 - 1,472,559 75,400 13,990 1,561,949 1,222,955 1,193,094 29,861 - 1,222,955	Affordable Artists’ Workspace 2024 £ Arts’ Programme 2024 £ Humanitarian Aid 2024 £ Total funds 2024 £ Total funds 2023 *£ 388,256 - - 388,256 270,475 237,617 - - 237,617 227,507 341,598 - - 341,598 235,507 1,397 - - 1,397 337 362,882 - - 362,882 352,792 30,575 - - 30,575 32,312 58,918 - - 58,918 26,864 2,885 - - 2,885 16,671 10,624 - - 10,624 2,417 - 75,400 - 75,400 29,861 37,807 - - 37,807 28,212 - - - 13,990 - 1,472,559 75,400 13,990 1,561,949 1,222,955 1,193,094 29,861 - 1,222,955	Affordable Artists’ Workspace 2024 £ Arts’ Programme 2024 £ Humanitarian Aid 2024 £ Total funds 2024 £ Total funds 2023 *£ 388,256 - - 388,256 270,475 237,617 - - 237,617 227,507 341,598 - - 341,598 235,507 1,397 - - 1,397 337 362,882 - - 362,882 352,792 30,575 - - 30,575 32,312 58,918 - - 58,918 26,864 2,885 - - 2,885 16,671 10,624 - - 10,624 2,417 - 75,400 - 75,400 29,861 37,807 - - 37,807 28,212 - - - 13,990 - 1,472,559 75,400 13,990 1,561,949 1,222,955 1,193,094 29,861 - 1,222,955
		388,256	-	-
		237,617	-	-
		341,598	-	-
		1,397	-	-
		362,882	-	-
		30,575	-	-
		58,918	-	-
		2,885	-	-
		10,624	-	-
		-	75,400	-
		37,807	-	-
		-	-	-
		1,472,559	75,400	13,990
		1,193,094	29,861	-

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7.2. ANALYSIS OF SUPPORT COSTS

Staff costs Welfare and social Technology Legal and professional General expenses Depreciation Direct charitable activity Governance costs Total 2023	Affordable Artists’ Workspace 2024 £ Humanitarian Aid 2024 £ Total funds 2024 £ Total funds _2023 £ 183,725 - 159,958 _159,958 - - - 617 - - - 6,016 - - - 15,974 - - - 16,737 - - - 4,297 - 305 305 - 42,563 - 42,563 25,934 226,288 305 226,593 229,533 229,533 - 229,533	Affordable Artists’ Workspace 2024 £ Humanitarian Aid 2024 £ Total funds 2024 £ Total funds _2023 £ 183,725 - 159,958 _159,958 - - - 617 - - - 6,016 - - - 15,974 - - - 16,737 - - - 4,297 - 305 305 - 42,563 - 42,563 25,934 226,288 305 226,593 229,533 229,533 - 229,533
		183,725 -
		- -
		- -
		- -
		- -
		- -
		- 305
		42,563 -
		226,288 305
		229,533 -

The average number of persons employed by the Charity during the year was as follows:

Full time Part time	2024 No. _2023 No._	2024 No. _2023 No._
		13 10
		6 5
		19 15

No employee received remuneration amounting to more than £60,000 in either year.

The key management and operational personnel of the charity comprises of the senior staff members named Mr R Fischer-Vousden, Mr J Field, Mr O Tobin, Ms E dobbs, and Mr D Gatenio. The total amount of employees' salary and benefits received by key management personnel for their services to the charity were £245,049 (2023: £236,085).

10. TRUSTEES’ REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL-). During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).

8. AUDITORS’ REMUNERATION

11. TANGIBLE FIXED ASSETS

	2024 *£	2023 *£
Fees payable to the Charity's auditor and its associates for the audit of the Charity's annual accounts	10,500	10,800
Fees payable to the Charity's auditor and its associates in respect of:
All non-audit services not included above	14,400	14,244

Fees payable to the Charity's auditor and its associates	2024 *£	2023 *£	11. TANGIBLE F	XED ASSETS
for the audit of the Charity's annual accounts	10,500	10,800		Fixtures and fittings *£	Office equipment *£	Total *£
Fees payable to the Charity's auditor and its associates in respect of:			Cost or valuation
All non-audit services not included above	14,400	14,244	At 1 January 2024	225,698	31,550	257,248
			Additions	2,631	4,311	6,942
			At 31 December 2024	228,329	35,861	264,190
9. STAFF COSTS			Depreciation
			At 1 January 2024	125,266	18,658	143,924
	2024 *£	2023 *£
			Charge for the year	28,662	9,145	37,807
Wages and salaries	517,951	391,398
			At 31 December 2024	153,928	27,803	181,731
Social security costs	43,601	30,812
			Net book value
Contribution to defined contribution pension schemes	10,430	8,223
			At 31 December 2024	74,401	8,058	82,459
	571,982	430,433
			At 31 December 2023	100,432	12,892	113,324

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12. DEBTORS

12. DEBTORS
Due within one year Trade debtors Other debtors Prepayments and accrued income		2024 £ _2023 £_
		208,571 196,376
		10,832 15,385
		29,637 52,338
		249,040 264,099

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DUE WITHIN ONE YEAR
Trade creditors Other taxation and social security Other creditors Accruals and deferred income		2024 £ _2023 £_
		327,744 234,506
		143,038 69,170
		105,318 71,784
		132,033 133,135
		708,133 508,595

14. FINANCIAL INSTRUMENTS

Financial assets Financial assets measured at fair value through income and expenditure	2024 £ _2023 £_	2024 £ _2023 £_
		52,341 8,117

Financial assets measured at fair value through income and expenditure comprise cash at bank

15. STATEMENT OF FUNDS

CURRENT YEAR Unrestricted funds Reserves Restricted funds Open studios I will live many years in this room Cultural bridge fund Building purchase fund Eastern city City BID funding for crutched Crutched friarsFriars Humanitarian aid Black History 365 Total of funds PRIOR YEAR Unrestricted funds Reserves Restricted funds Open studios I will live many years in this room Cultural bridge fund Total of funds	Balance at 1 January 2024 £ Income £ Expenditure £ Balance at 31 December 2024 £ (137,787) 1,501,579 (1,738,862) (375,070) 2,650 5,178 (2,650) 5,178 12,083 - -12,083 - - 17,052 (17,052) - - 20,600 - 20,600 - 25,000 - 25,000 - 14,295 (14,295) - - 3,600 (3,600) - 14,733 85,725 (49,680) 50,778 (123,054) 1,587,304 (1,788,542) (324,292) Balance at 1 January 2023 £_ _Income £ Expenditure £ _Balance at 31 _December 2023 £ (157,360) 1,460,538 (1,440,965) (137,787) - 11,000 (8,350) 2,650 - 12,083 - 12,083 - 3,173 (3,173) - - 26,256 (11,523) 14,733 (157,360) 1,486,794 (1,452,488) (123,054)	Balance at 1 January 2024 £ Income £ Expenditure £ Balance at 31 December 2024 £ (137,787) 1,501,579 (1,738,862) (375,070) 2,650 5,178 (2,650) 5,178 12,083 - -12,083 - - 17,052 (17,052) - - 20,600 - 20,600 - 25,000 - 25,000 - 14,295 (14,295) - - 3,600 (3,600) - 14,733 85,725 (49,680) 50,778 (123,054) 1,587,304 (1,788,542) (324,292) Balance at 1 January 2023 £_ _Income £ Expenditure £ _Balance at 31 _December 2023 £ (157,360) 1,460,538 (1,440,965) (137,787) - 11,000 (8,350) 2,650 - 12,083 - 12,083 - 3,173 (3,173) - - 26,256 (11,523) 14,733 (157,360) 1,486,794 (1,452,488) (123,054)	Balance at 1 January 2024 £ Income £ Expenditure £ Balance at 31 December 2024 £ (137,787) 1,501,579 (1,738,862) (375,070) 2,650 5,178 (2,650) 5,178 12,083 - -12,083 - - 17,052 (17,052) - - 20,600 - 20,600 - 25,000 - 25,000 - 14,295 (14,295) - - 3,600 (3,600) - 14,733 85,725 (49,680) 50,778 (123,054) 1,587,304 (1,788,542) (324,292) Balance at 1 January 2023 £_ _Income £ Expenditure £ _Balance at 31 _December 2023 £ (157,360) 1,460,538 (1,440,965) (137,787) - 11,000 (8,350) 2,650 - 12,083 - 12,083 - 3,173 (3,173) - - 26,256 (11,523) 14,733 (157,360) 1,486,794 (1,452,488) (123,054)
		(157,360)	1,460,538
		-	11,000
		-	12,083
		-	3,173
		-	26,256
		(157,360)	1,486,794

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16. SUMMARY OF FUNDS

CURRENT YEAR General funds	Balance at 1 January 2024 *£ (137,787)	Income *£ 1,501,579	Expenditure *£ (1,738,862)	Balance at 31 December 2024 *£ (375,070)
Restricted funds	14,733	85,725	(49,680)	50,778
	(123,054)	1,587,304	(1,788,542)	(324,292)
PRIOR YEAR	Balance at 1 January 2023 *£	Income *£	Expenditure *£	Balance at 31 December 2023
				*£
General funds	(157,360)	1,460,538	(1,440,965)	(137,787)
Restricted funds	-	26,256	(11,523)	14,733
	(157,360)	1,486,794	(1,452,488)	(123,054)
17. ANALYSIS	OF NET	ASSETS
BETWEEN	FUNDS
CURRENT YEAR		Unrestricted funds 2024 *£	Restricted funds 2024 *£	Total funds 2024 *£
Tangible fixed assets		82,460	-	82,460
Current assets		250,603	50,778	301,381
Creditors due within one year		(708,133)	-	(708,133)
Rounding		(1)	-	(1)
Total		(375,071)	50,778	(324,293)
PRIOR YEAR		Unrestricted funds 2023 *£	Restricted funds 2023 *£	Total funds 2023 *£
Tangible fixed assets		113,325	-	113,325
Current assets		257,483	14,733	272,216
Creditors due within one year		(508,595)	-	(08,595)
Total		(137,787)	14,733	(123,054)

18. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Decrease/(increase) in debtors Increase in creditors Purchase of fixed assets Net cash provided by/(used in) operating activities	2024 £ _2023 £_	2024 £ _2023 £_
	(201,238) 34,306
	37,807 32,509
	15,058 (115,863)
	199,539 51,520
	(6,942) (9,213)
		44,224 (6,741)

19. ANALYSIS OF CASH AND CASH EQUIVALENTS

		2024 *£		2023 *£
Cash in hand		52,341		8,117
Total cash and cash equivalents		52,341		8,117
20. ANALYSIS OF CHANGES IN NET			DEBT
	At 1 January	Cash flows *£	At	31 December
	2023 *£			2023 *£
Cash at bank and in hand	8,117	44,224		52,341
	8,117	44,224		52,341

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21. GOING CONCERN

The charity had net deficit of £201,238 which have increased the negative net assets to £324,292 at the year end. During the current year 2025, the charity has acquired a substantial building on favourable terms, the management have acquired new loan and have restructured some of the old significant debts.

This would result in positive cash flow in near future and charity would be in surplus during 2026 in order to bring net assets into positive. The trustees are of the opinion that the charity is going concern for the foreseeable future and charity's funds will be in surplus in next 12 months.

22. RELATED PARTY TRANSACTIONS

During the year, the Charity was in receipt of cash advances and loans from senior management of £47,318.67 to fund day today operations, of which no interest was charged. At the year ended 31 December 2024 the total amounts due to be repaid was £10,059.95 which is repayable on demand and unsecured.

The repayment of these loans was carried out under the oversight of the Trustees and without any involvement or influence from the lenders. No Trustees lent money to the charity during the year.

All related party transactions and relationships are conducted at arm’s length and in the ordinary course of business, with appropriate oversight from the Board of Trustees.

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SET is a London-based contemporary arts charity transforming vacant buildings into spaces for experimental culture and community. Since 2016, it has grown into series of city-wide centres supporting nearly 1,000 artists with some of the city’s most affordable studios. Its yearround public programme spans exhibitions, performances, residencies, workshops, and live events, co-created with artists and local communities. Through advocacy and partnerships, including the London Affordable Artists’ Studio Network (LAASN), SET works to safeguard affordable creative space and expand access to culture across the city.

Website: www.setspace.uk LinkedIn: @SET Instagram: @setsetsetsetsetset

Registered office: Riverside House, Beresford St, London SE18 6BU

Charity number: Annual Report 20241170903

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