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← Outside In Art

2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1171128

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

OUTSIDE IN ART

Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

OUTSIDE IN ART

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 9
Independent Examiner's Report 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 22
Detailed Statement of Financial Activities 23 to 24

OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Outside In ( the Charity ) provides a platform for artists who face barriers to the art world due to health, disability, social circumstance or isolation.

Outside In s aim is to create a more inclusive, fairer art world by challenging preconceptions as to who is an artist and what is art.

The main objective of the Charity as expressed in its Constitution, is to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society by providing opportunities for such people to take part in art-related activities.

This objective is achieved by:

Public benefit

The trustees confirm that they have complied with Section 17 of the Charities Act 2022 to have due regard to the Public Benefit guidance published by the Charity Commission for England and Wales. The Charity aims to benefit the public by improving people's lives through art and by being a means to bring the public into contact with artists and art with which they would not normally engage.

Outside In achieves this by working in partnership with organisations around the UK including the New Art Galler Walsall, Fabrica in Brighton, and the De La Warr Pavilion in Bexhill to deliver a programme of exhibitions, commissions, residencies and training. The exhibitions act as a powerful means to enable people to reassess their relationship to art and why it is made. The benefit which the Charity's artists feel is shared by its audiences who often leave exhibitions feeling liberated and enthused. This can be evidenced through the many positive comments from the visitors' books at Outside In exhibitions and feedback on the website and on social media. Outside In spearheads a campaign to create a fairer, more accessible art world and, through outreach work, actively searches to reach artists who need our support.

Artists receive powerful validation through joining the Charity and many speak about the significant impact this has had on their health and wellbeing enabling them to function more effectively and with confidence to the benefit of all.

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

Volunteers

The trustees continue to be grateful for the unstinting efforts of the volunteers who help the work of the Charity.

124 volunteer Ambassadors have been trained by the Charity and play a vital role in helping to find new artists, represent the Charity publicly, build networks, and share their experiences. The Ambassadors and their collective voice are a powerful and important means of communicating the Charity's work. 13 new Ambassadors were trained during this financial year.

Trustees do not receive any payment or benefits for their work as trustees and have contributed financially to the work of the Charity.

Overview

Since its inception in 2006, Outside In has successfully engaged more than 5,000 artists helping them to establish online galleries and welcoming thousands of audience members to over 80 exhibitions. The Charity has developed relationships with over 170 partner organisations in the UK and internationally and has trained over 225 artists through its Step Up programme.

For numerous artists who have taken part in the programmes, positive outcomes cited in evaluations included transformation, validation, confidence, new skills and stimulated creative processes, experience of a safe inclusive space, opportunities to provoke conversation and real inclusion where their work was previously misunderstood.

Secondary benefits include a positive effect on self-esteem, health and wellbeing; social development and professional networking opportunities; the alleviation of symptoms of illness, and the reduction in loneliness caused by isolation.

One artist said, "Thank you for the work of Outside In, the sense of community, creativity, and opportunities that being part of this amazing organisation provides."

Exhibition visitors exposed to non-traditional art rated the work as very high quality and commented that it was "inspiring" and "exceeded all expectations."

Impacts upon the wider arts and/or cultural sector included: making the case for diversity; diversifying the sector workforce; promoting work of non-traditional artists; challenging preconceptions and practice.

As we look forward to our 20th Anniversary year, the Charity continues to develop our online exhibitions, online artist development sessions and training courses alongside in-person activities across the UK and will continue to offer a hybrid programme.

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE

artists to share their work, take part in events, submit work for exhibitions and apply for training opportunities. 271 new online galleries were published during the period, over 1,000 updates to galleries were recorded and there was an average of 8,416 monthly visitors to the site. Building on its virtual gallery spaces, four online exhibitions were held with increased function and accessibility and two interactive events. This was a significant step towards having a larger interactive virtual space for online visitors.

Training

confidence in a

gallery setting. Tailored professional training opportunities support participants to develop their careers and learn skills to enter the cultural workforce as researchers, curators, or workshop leaders.

During the year Outside In delivered:

6 Step Up Training courses, engaging 32 artists to build up professional skills necessary for entering the cultural workforce and 499 people involved as participants.

Course included:

The British Art Network Research Group funding for New Dialogues ended in September 2024. 210 people were in the research group. 3 Creative Researchers (Outside In artists) received a bursary to explore an area of this work in depth with support from the Step Up team. Feedback included extend a sincere thanks to my mentors and to Outside In and BAN for this opportunity. It's been quite life-changing to go through the process. I now feel capable of gaining funding for my work and am motivated to keep going with what I

at Artsdepot, London.

Monthly Step Up Alumni Networking Meetings and Introducing Collections talks continued.

Exhibitions

venues and online, celebrating the talent of artists outside of the mainstream. The Exhibitions Programme provides a vital tool for changing and challenging audience attitudes and supporting organisations to diversify their audiences and curatorial programmes, as well as offering career development opportunities for its artists. During the year Outside in delivered:

Physical exhibitions:

Michelle Roberts - Red, Blue, Up - De La War Pavillion, Bexhill. Make Art Bournemouth: Connected Through Art - Bournemouth Library. Creativity of Freedom - Artsdepot London. The Grange: Inside Outside In Great Northern Contemporary Craft Fair

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

A total of over 24,000 audience members attended the exhibition programme during this period.

Virtual Exhibitions:

All Kinds of Work - Virtual exhibition - 9 April - 16 September 2024

A total of 1263 audience members attended the virtual exhibition programme during this period.

Artist Support

Meeting the needs of its artists and those it has yet to reach is vital if the Charity is to be able to support creative journeys and help address barriers to inclusion in the art world. Outside In is working in a context of drastic cuts in social care and cultural provision. It is supporting those artists and individuals most vulnerable and excluded in our society at a regional, national, and international level.

The Charity has developed a responsive and tailored Artist Development Programme to find and support artists. Artist often in areas of low arts engagement. They are the primary outreach means by which artists join the Charity. Artist Support Days help tackle digital exclusion, enabling artists to get their work photographed, introduce them to new digital skills and empowering them to have a digital presence through their own online gallery. Another important aspect of the Artist Development Programme is its programme of Share Art events which enable artists to present and share their work to an audience of peers through a presentation of digital images of their work.

Survey

296 artists from across the UK shared their experiences of being an artist and working with Outside In through surveys, focus groups, interviews, and easy-read formats. The Charity worked with external agency Pamela Kent Consulting to ensure the process was independent and artists could share honest feedback. The survey questions were developed in consultation with artists to ensure the right questions were asked. Several clear themes emerged: artists wanted more opportunities to connect with each other and build community, clearer communication from the Charity about what's on offer and how to get involved, support tailored to their own practice rather than generic advice, and greater artist -making.

Venice Biennial

Two Outside In artists were awarded British Council Fellowships to spend one month in Venice. Prior to travelling, they received training on invigilating and participated in the fellowship programme, meeting fellow participants. In Venice, they invigilated at the British Pavilion featuring John Akomfrah's work, while also developing their own research projects.

Sketchbook Socials

Nine Sketchbook Socials sessions took place online and in person. Sketchbook Socials are relaxed creative sessions exploring what Outside In can offer artists who encounter barriers to the art world. 150 people attended the sessions in 2024 - 2025.

Dr Andrew Edney Bursary

Outside In continued its partnership with the Arts Society South Downs offering the Dr Andrew Edney Bursary to its artists. Three artists were selected to receive bursaries towards their professional development in the period.

During the year Outside In delivered a total of: 18 Artist Support Days, 15 online and three in person Total of 102 artists supported Four Share Art events, two online and two in person

Approximately 500 artists have been provided with direct support by Outside In this year. This pastoral care also helped with the creation of an additional 271 online galleries during the period.

West Midlands Hub

The West Midlands Hub Manager was appointed in March 2024 for a six month contract. This role included organising and delivering Artist Support Days, chairing and minuting the Midlands Artist Advisory Group and applying for funding for the group to run a series of workshops in 2025 to reach out to new audiences ahead of the 2025 National exhibition.

A new West Midlands Hub Manager was recruited in February 2025 for two days a week for a fixed term of one year. They have focused on planning artist engagement and activities for Outside In's national exhibition Shelter at New Art Gallery Walsall.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

North West Hub

The North West Hub Manager worked on the Cultural Ties project in partnership with The Silk Museum and Artspace Homes for Ukraine scheme; this project supported these refugees and other disadvantaged members of the Macclesfield community to come together to share their skills in traditional Petrykivka painting (a heritage craft) and sign up to Outside In.

During the year artist support days have been held in Victoria Hall Glossop, Artspace Macclesfield and the Silk Museum as well as two held online.

Outside In continued its participation with the Great Northern Contemporary Craft Fair and 22 artists exhibited at the exhibition stand.

Artist Advisory Group

The Charity established an Artist Advisory Group (AAG) from the outset to provide an opportunity for Outside In artists to provide guidance and feedback into the development and delivery of its programmes. The Artist Advisory Group originally consisted of six artists from a variety of backgrounds representing the wider artist body and includes a range of individual lived experiences, e.g. of physical and/or mental health issues, learning disabilities and social isolation.

As the charity has grown, so has the AAG structure, with a West Midlands AAG established in 2022, also meeting 4 times per year (in person at The New Art Gallery Walsall, the West Midlands Hub / online) and a North West AAG emerging in 2024. A "lead member" from the West Midlands AAG continues to attend the AAG to integrate communication and learning from both forums and a representative from the North West AAG is due to attend from May 2025.

The Artist Trustee on the Outside In Board, continues to be a member of the AAG, acting as a conduit between the wider artist group and Outside In's Board of Trustees. The existing Artist Trustee stood down in December 2024, and a new OI Artist Trustee is currently being recruited.

Communications

Through its communications and audience development activity and website, the Charity has a proven and effective record of bringing the work of overlooked and excluded artists to new and established arts audiences with team expertise around arts and lifestyle press and social media ensuring the Charity gains widespread attention.

-newsletter is sent to over 5500 recipients and a hard copy is sent to 127 recipients who are digitally excluded. The Charity shares content on Facebook and LinkedIn and has over 9600 followers on Instagram.

FINANCIAL REVIEW

Financial position

The work of the Charity is largely financed by grants and donations. Income for the year totalled £571,995. This reflected a significant step up in activities from 2024 in which period income was £425,122.

Expenditure during the year totalled £604,876, which was an increase of £20,704 compared to the previous year funding as well as third sector provision continued to be under significant stress.

Excluding Endowment Fund movement the overall result was a deficit of £32,881 before unrealised investment losses of £26,229 (compared to unrealised gain of £29,483 in 2024) leading to a net deficit for 2025 of £59,110. This compares with a deficit of £129,567 for the previous year.

At the year end, net current assets available for the general work of the Charity stood at £52,889 (2024: £130,216) which was sufficient for the projected immediate operating needs.

The Charity benefits greatly from valuable work undertaken by volunteers which is not reflected in the financial accounts.

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW Fundraising

The Charity's year-on-year fundraising activities are an absolute necessity for its work.

It has a range of income streams, including art sales, core grants, grants from trusts and foundations, donations, and contributions from partner organisations, patrons and friends. The trustees are truly grateful to each and every grant grants received are disclosed in Note 2 to the Financial Statements.

Outside In currently has 15 Patrons and continues to actively recruit members to its Patrons and Friends schemes. This active approach led to an increase of 339% from £5,600 (2024) to £19,000 (2025) of patron subscriptions. In addition Patrons supported Outside In via the Big Give Trust in the year with £24,479 raised through this initiative.

The Charity continues to build on existing relationships with trusts and foundations and is working towards diversifying its income streams. It has continued its corporate partnerships with Howden Group Holdings Ltd, and Tribe Impact Capital during the period.

As a small Charity, Outside In is not registered with the Fundraising Regulator, but it is committed to adhere to the Code of Fundraising Practice (2019).

In accordance with GDPR regulations, Outside In's website provides access to the Charity's Privacy Policy and to its Data Protection Policy. The website also provides information about how to unsubscribe from Outside In's communications.

Investment policy and objectives

Funds not required for current needs may be invested in investments of any kind at the absolute discretion of the trustees. In 2017 the Charity received donations to establish an endowment fund. The fund is managed by Cazenove Capital on a balanced basis. The purpose of the endowment is to generate an income to assist with core costs.

An investment committee, which reports to the trustees, has immediate responsibility for the monitoring of investment matters.

Reserves policy

During the year the trustees' reviewed and confirmed its reserves policy including:

"Outside In (the Charity) has no earned income and few assured sources of income, until the endowment fund is fully built. Its income is mainly in the form of occasional substantial grants. It is not possible to predict with any certainty either the likely amounts, or the timing of these grants. The Charity employs staff and has commitments for premises. Its other operating expenses are fundamental to the fulfilment of its charitable objects".

Should the Charity suffer a reduction in income, the trustees would want to continue its activities while they endeavour to secure funding. If it then became clear that for financial reasons the Charity would have to cease its activities, they would want to wind it down in an orderly manner and the Charity would need to meet redundancy and other cessation costs.

On the basis of the above, the trustees resolve that the Charity should hold unrestricted cash reserves equal to four month's budgeted expenditure, excluding any discretionary capital expenditure.

The trustees review this position each year and in 2025 the reserves level was set at £161,000 on the basis of a budgeted expenditure of £484,000.

At the year end the cash balances, net of accruals and deferred income, totalled £62,426 including a restricted fund of £17,349. The reserves are significantly below the level specified in the reserves policy and the trustees are committed to returning the reserves to the level of 4 months of budgeted expenditure over the coming 2 years.

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FUTURE PLANS

The financial years 2025/26 and 2026/27 are critical years for the entire sector given the pressures on funding streams from endowments, trusts, foundations and individuals that are causing many charities to review their activities and even, sadly, their existence. In addition to these broad sector stresses, Outside In will be going through a period of transition as the Founder-Director retires and their replacement is established.

funding needs to ensure that it stays true to its mission to provide a platform for artists who face barriers to the art world due to health, disability, social circumstance or isolation whilst also ensuring a positive and vibrant future for the Charity. Outside In has been fortunate to have major donors and endowment providers who understand the sector and have expressed their continued support for the Charity as it reimagines itself for this new funding environment. The future. The trustees are confident the finances of the Charity can support its activities and aims in the coming years.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Outside In Art is a charitable incorporated organisation registered by the Charity Commission in England and Wales on 16 January 2017. It is governed by its Constitution. The trustees are the only members of the Charity. They have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.

Recruitment and appointment of new trustees

Trustees are recruited by making the opportunity known as widely as possible, including using social media, and are appointed from those who share the Charity's aims and aspirations and who are believed to be able to bring a breadth and depth of experience and skills to the trustee body.

Prior to appointment, trustees are briefed on the Charity's activities, on the obligations of trustees and on the latest guidance from the Charity Commission for England and Wales. Each trustee is required to complete a Declaration of Interests and a Fit and Proper Person form. They take seriously their obligations to maintain their knowledge and attend relevant courses and seminars. Each year one third of the trustees retire by rotation. Those retiring are eligible for re-election but may not serve for more than three consecutive terms.

Key Management Personnel Pay Policy

The Key Management Personnel are those listed within these accounts. Together with the trustees, the Key Management Personnel are those in charge of directing and controlling the Charity and running and operating the activities of the Charity on a day-to-day basis. The pay of the Key Management Personnel is reviewed annually and is benchmarked against the pay levels in other charities.

Employees and HR

With guidance from outside specialists, the Charity has developed both the relevant HR policies needed for the Charity and a staff and volunteer handbook. Employees' remuneration is determined by benchmarking against market rates and rates paid by comparable organisations. Outside In has a core team of fourteen staff members.

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The Trustees, Director and Operations Manager have continued to assess the major risks to which the Charity is exposed and are continuing to strengthen systems and processes to mitigate those risks. This ongoing review ensures that the Charity remains responsive to changes in our operating environment and can continue to deliver on our charitable aims most effectively.

Fundraising and Income Stability

The Charity faces ongoing challenges in maintaining diverse and sustainable income streams. Increased competition for grants, alongside economic pressures from inflation and for our partners, continue to affect our ability to meet income targets. To reduce this risk, we are focusing on diversifying our funding base through a broader mix of grant income, earned revenue, and individual donations. We are also building stronger, longer-term relationships with funders and partners, and carefully monitoring financial performance through quarterly reviews to ensure earlier action can be taken, if or when required.

Capacity and Staff Retention

As a sometimes thinly stretched national organisation, much of our success depends on the skills and dedication of a small team. Retention remains challenging across the arts sector, and any loss of key staff could affect our ability to deliver funded programmes efficiently. To mitigate this, we have updated and improved our policies; invested in external HR resource on a retainer, and continued to offer flexible working practices to support wellbeing and staff retention. The Board also reviews our staffing capacity and remuneration annually to ensure we remain a supportive and attractive employer, wherever possible.

Director succession

At the end of the financial year, our founding Director announced their intention to retire from the Charity in March 2026. This presented both a risk and an opportunity for renewal. The Trustees are now progressing a structured succession plan to ensure a smooth transition and continuity of leadership. This includes a clear timeline for recruitment, overlap/ interim support, and handover, and engagement with the team; our funders, and partners to maintain confidence and organisational stability throughout the process. The Board views this transition as a key moment to -term strategy.

Serious Incidents

In line with the Charity Commission's guidance on reporting serious incidents, the trustees declare that during the reporting period there were no serious incidents that they have failed to bring to the Commission's attention.

Governance

The Charity is led by a highly skilled Board which includes an Outside In artist. It has Artist Advisory Groups, comprised of Outside In artists, to give strategic guidance from those with a shared lived experience of the Charity's beneficiaries. The Board met four times during the year and the Finance and Operations committee met as required between board meetings. The Director is responsible for the day-to-day management.

The trustees take governance seriously and seek to apply the Charity Governance Code, including the updated Code published on 8 December 2020, and to operate in accordance with the seven Principles identified by the Nolan Committee on Standards in Public Life (selflessness, integrity, objectivity, accountability, openness, honesty and leadership). Furthermore, believing that corruption, bribery and unfair actions hamper development and impede progress, they insist on integrity in all of the Charity's activities.

Independent Examiner

Sarah Alexander of Lewis Brownlee (Chichester) Limited, the Charity's independent examiner continues in this role.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1171128

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OUTSIDE IN ART

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Principal address

PO Box 5571 Brighton East Sussex BN50 8UR

Trustees

C T Rolls (resigned 7/3/2025) G Turley (appointed 6/12/2024) F Christie (appointed 6/9/2024) Ms S Catto (appointed 7/6/2024) S Chappatte (appointed 7/6/2024) Ms K J Rosser Frost C Martin (resigned 13/6/2025) Ms D Hodson (resigned 6/12/2024) S Greenhalgh (resigned 6/12/2024) T E James (resigned 16/12/2024) Ms I Carr (appointed 17/6/2025)

Director & Key Management Personnel

M Steene

Independent Examiner

Sarah Alexander FCCA FCA Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

Bankers

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Investment Manager

Cazenove Capital 1 London Wall Place London W1S 3ED

Email address

info@outsidein.org.uk

Website

www.outsidein.org.uk Approved by order of the board of trustees on ............................................. and signed on its behalf by: Approved by order of the boardof ° Jan 19,2026

..............................................................F Christie - Trustee cpm nenrneennnensnnnreneen

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OUTSIDE IN ART

Independent examiner's report to the trustees of Outside In Art

I report to the charity trustees on my examination of the accounts of Outside In Art (the Trust) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

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

Sarah Alexander FCCA FCA

Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

Date: ............................................. 26 January 2026

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OUTSIDE IN ART

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
432,977
Other trading activities
3
46,942
Investment income
4
40,830
Total
520,749
EXPENDITURE ON
Raising funds
5
21,394
Charitable activities
6
Charitable activities
548,546
Total
569,940
Net gains/(losses) on
investments
-
NET
INCOME/(EXPENDITURE)
(49,191)
Transfers between funds
15
85,558
Net movement in funds
36,367
RECONCILIATION OF FUNDS
Total funds brought forward
9,260
TOTAL FUNDS CARRIED
FORWARD
45,627		 Restricted
Endowment
funds
fund
£
£
39,070
-
12,176
-
-
-
51,246
-
-
-
34,936
-
34,936
-
-
(26,229)
16,310
(26,229)
499
(86,057)
16,809
(112,286)
540
982,828
17,349
870,542		 2025
Total
funds
£
472,047
59,118
40,830
571,995
21,394
583,482
604,876
(26,229)
(59,110)
-
(59,110)
992,628
933,518		 2024
Total
funds
£
379,461
32,810
12,851
425,122
19,434
564,738
584,172
29,483
(129,567)
-
(129,567)
1,122,195
992,628

The notes form part of these financial statements

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BALANCE SHEET 31 MARCH 2025

2025 2024
Unrestricted Restricted Endowment Total Total
funds funds fund funds funds
Notes £ £ £ £ £
FIXED ASSETS
Tangible assets 10 550 - - 550 550
Investments 11 - - 870,542 870,542 916,440
550 - 870,542 871,092 916,990
CURRENT ASSETS
Debtors 12 37,718 - - 37,718 19,949
Investments 13 - - - - 66,388
Cash at bank and in hand 121,597 17,349 - 138,946 130,216
159,315 17,349 - 176,664 216,553
CREDITORS
Amounts falling due within one
year 14 (114,238) - - (114,238) (140,915)
NET CURRENT ASSETS 45,077 17,349 - 62,426 75,638
TOTAL ASSETS LESS
CURRENT LIABILITIES 45,627 17,349 870,542 933,518 992,628
NET ASSETS 45,627 17,349 870,542 933,518 992,628
FUNDS 15
Unrestricted funds 45,627 9,260
Restricted funds 17,349 540
Endowment funds 870,542 982,828
TOTAL FUNDS 933,518 992,628

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:Jan 19, 2026

............................................. F Christie - Trustee

The notes form part of these financial statements

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CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Sale of fixed asset investments
Purchase of current asset investments
Transfer from endowment
Sale of current asset investments
Dividends received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
(118,157)
(118,157)
(39,557)
59,226
(19,669)
86,057
-
40,830
126,887
8,730
130,216
138,946		 2024
£
(102,246)
(102,246)
(1,115,026)
1,098,412
-
16,615
12,851
12,852
(89,394)
219,610
130,216

The notes form part of these financial statements

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NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

1.
RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2025
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(59,110)
Adjustments for:
Depreciation charges
-
Losses/(gain) on investments
26,229
Dividends received
(40,830)
Increase in debtors
(17,769)
(Decrease)/increase in creditors
(26,677)
Net cash used in operations
(118,157)		 2024
£
(129,567)
701
(29,483)
(12,851)
(1,504)
70,458
(102,246)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/24 Cash flow At 31/3/25
£ £ £
Net cash
Cash at bank and in hand 130,216 8,730 138,946
130,216 8,730 138,946
Liquid resources
Deposits included in cash - - -
Current asset investments 66,388 (66,388) -
66,388 (66,388) -
Total 196,604 (57,658) 138,946

The notes form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance cost comprise the cost of governance arrangements which relate to the general running of the Charity.

Tangible fixed assets

Art collections are not depreciated but are stated at their cost to the Charity. The trustees are of the opinion that the market value of these assets exceeds their book value, the assets are regularly maintained and restored and their long useful economic life would result in any depreciation charge being immaterial.

Taxation

The Charity is exempt from direct tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

The Endowment fund is an expendable endowment with funds invested to produce income to support the charitable activities of the Charity.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. DONATIONS AND LEGACIES

Donations
Grants
Friends subscriptions
Patrons subscriptions
Grants receivable include grants from the following organisations:
Paul Hamlyn Foundation
Baring Foundation
Jerwood Foundation
Garfield Weston Foundation
The Roddick Foundation
The Creative Art House
British Art Network
Awards for All
The Big Give Trust
Christiaen Van Lanschot
Project Art Works
Arts Council England NPO
John Booth Cahritable Foundation
The 29th May 1961 Charitable Trust
Arts Society
Linbury Trust
3.
OTHER TRADING ACTIVITIES
Art work and postcard sales
Sponsorships
Other revenue
Conference and exhibition fees		 2025
£
35,966
416,871
210
19,000
472,047
2025
£
121,852
9,350
15,080
40,000
15,000
-
3,790
9,360
24,749
9,350
-
101,840
5,000
10,000
1,500
50,000
416,871
2025
£
51,122
6,000
1,996
-
59,118		 2025
£
35,966
416,871
210
19,000
472,047
2025
£
121,852
9,350
15,080
40,000
15,000
-
3,790
9,360
24,749
9,350
-
101,840
5,000
10,000
1,500
50,000
416,871
2025
£
51,122
6,000
1,996
-
59,118		 2024
£
50,067
323,479
315
5,600
379,461
2024
£
117,166
-
-
46,000
30,000
3,000
4,540
-
-
-
7,500
101,840
-
10,000
100
3,333
323,479
2024
£
22,899
5,000
2,950
1,961
32,810

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

4.
INVESTMENT INCOME
2025
£
Dividend income
40,830
5.
RAISING FUNDS
Raising donations and legacies
2025
£
Support costs
15,899
Other trading activities
2025
£
Purchases
3,071
Investment management costs
2025
£
Portfolio management
2,424
Aggregate amounts
21,394
6.
CHARITABLE ACTIVITIES COSTS
Charitable activities
7.
SUPPORT COSTS
Governance
Finance
costs
£
£
Raising donations and legacies
227
15,672		 2024
£
12,851
2024
£
11,102
2024
£
7,247
2024
£
1,085
19,434
Direct
Costs
£
583,482
Totals
£
15,899		 2024
£
12,851
2024
£
11,102
2024
£
7,247
2024
£
1,085
19,434

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

9. STAFF COSTS

2025
£
Wages and salaries
354,514
Social security costs
27,920
Other pension costs
7,507
389,941
The average monthly number of employees during the year was as follows:
2025
Charitable
14
No employees received emoluments in excess of £60,000.
10.
TANGIBLE FIXED ASSETS
Art
Website
collectionsredevelopment
£
£
COST
At 1 April 2024 and 31 March 2025
550
44,686
DEPRECIATION
At 1 April 2024 and 31 March 2025
-
44,686
NET BOOK VALUE
At 31 March 2025
550
-
At 31 March 2024
550
-
11.
FIXED ASSET INVESTMENTS
Cash and
Listed
settlements
investments
pending
£
£
MARKET VALUE
At 1 April 2024
897,997
18,443
Additions
-
39,557
Disposals
(1,727)
(57,460)
Revaluations
(26,268)
-
At 31 March 2025
870,002
540
NET BOOK VALUE
At 31 March 2025
870,002
540
At 31 March 2024
897,997
18,443

There were no investment assets outside the UK.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

11. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2025 is represented by:

Cash and
Listed
settlements
investments
pending
£
£
Valuation in 2025
870,002
540
The historical cost of investments held at 31 March 2025 was £867,631 (2024: £870,126).
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
5,699
Other debtors
21,063
Prepayments and accrued income
10,956
37,718
13.
CURRENT ASSET INVESTMENTS
2025
£
Investment cash
-
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade creditors
18,169
Social security and other taxes
5,207
Other creditors
1,641
Accruals and deferred income
89,221
114,238
15.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1/4/24
in funds
funds
£
£
£
Unrestricted funds
General fund
9,260
(49,191)
85,558
Restricted funds
Venice Fellowship
540
(1,039)
499
Christiaen Van Lanschot
-
8,685
-
Soldiers of Oxfordshire Museum
-
8,664
-
540
16,310
499
Endowment funds
Outside In Endowment Fund
982,828
(26,229)
(86,057)
TOTAL FUNDS
992,628
(59,110)
-		 Cash and
Listed
settlements
investments
pending
£
£
Valuation in 2025
870,002
540
The historical cost of investments held at 31 March 2025 was £867,631 (2024: £870,126).
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
5,699
Other debtors
21,063
Prepayments and accrued income
10,956
37,718
13.
CURRENT ASSET INVESTMENTS
2025
£
Investment cash
-
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade creditors
18,169
Social security and other taxes
5,207
Other creditors
1,641
Accruals and deferred income
89,221
114,238
15.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1/4/24
in funds
funds
£
£
£
Unrestricted funds
General fund
9,260
(49,191)
85,558
Restricted funds
Venice Fellowship
540
(1,039)
499
Christiaen Van Lanschot
-
8,685
-
Soldiers of Oxfordshire Museum
-
8,664
-
540
16,310
499
Endowment funds
Outside In Endowment Fund
982,828
(26,229)
(86,057)
TOTAL FUNDS
992,628
(59,110)
-		 Totals
£
870,542		 Totals
£
870,542
2024
£
14,574
3,875
1,500
19,949
2024
£
66,388
2025
£
18,169
5,207
1,641
89,221
114,238
Transfers
between
funds
£
85,558
499
-
-
499
(86,057)
-		 2024
£
16,888
6,332
1,480
116,215
140,915
At 31/3/25
£
45,627
-
8,685
8,664
17,349
870,542
933,518		 2024
£
16,888
6,332
1,480
116,215
140,915
17,349
870,542
933,518

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 520,749 (569,940) - (49,191)
Restricted funds
British Art Network 3,790 (3,790) - -
Art Society 1,500 (1,500) - -
Venice Fellowship - (1,039) - (1,039)
Jerwood Foundation 15,080 (15,080) - -
Baring Foundation 9,350 (9,350) - -
Christiaen Van Lanschot 9,350 (665) - 8,685
Soldiers of Oxfordshire Museum 10,180 (1,516) - 8,664
Cheshire Community 1,996 (1,996) - -
51,246 (34,936) - 16,310
Endowment funds
Outside In Endowment Fund - - (26,229) (26,229)
TOTAL FUNDS 571,995 (604,876) (26,229) (59,110)

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Lund Humphries
Venice Fellowship
Endowment funds
Outside In Endowment Fund
TOTAL FUNDS		 Net
movement
At 1/4/23
in funds
At 31/3/24
£
£
£
161,753
(152,493)
9,260
7,097
(7,097)
-
-
540
540
7,097
(6,557)
540
953,345
29,483
982,828
1,122,195
(129,567)
992,628

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 398,988 (551,481) - (152,493)
Restricted funds
Lund Humphries 1,474 (8,571) - (7,097)
British Art Network 4,540 (4,540) - -
Creative Minds 3,000 (3,000) - -
Explore Art 6,000 (6,000) - -
John Ellerman Foundation 3,750 (3,750) - -
Art Society 2,600 (2,600) - -
Artist Support Days 150 (150) - -
Venice Fellowship 2,120 (1,580) - 540
London Art Fair 2,500 (2,500) - -
26,134 (32,691) - (6,557)
Endowment funds
Outside In Endowment Fund - - 29,483 29,483
TOTAL FUNDS 425,122 (584,172) 29,483 (129,567)

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between
At 1/4/23 in funds funds At 31/3/25
£ £ £ £
Unrestricted funds
General fund 161,753 (201,684) 85,558 45,627
Restricted funds
Lund Humphries 7,097 (7,097) - -
Venice Fellowship - (499) 499 -
Christiaen Van Lanschot - 8,685 - 8,685
Soldiers of Oxfordshire Museum - 8,664 - 8,664
7,097 9,753 499 17,349
Endowment funds
Outside In Endowment Fund 953,345 3,254 (86,057) 870,542
TOTAL FUNDS 1,122,195 (188,677) - 933,518

continued...

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 919,737 (1,121,421) - (201,684)
Restricted funds
Lund Humphries 1,474 (8,571) - (7,097)
British Art Network 8,330 (8,330) - -
Creative Minds 3,000 (3,000) - -
Explore Art 6,000 (6,000) - -
John Ellerman Foundation 3,750 (3,750) - -
Art Society 4,100 (4,100) - -
Artist Support Days 150 (150) - -
Venice Fellowship 2,120 (2,619) - (499)
London Art Fair 2,500 (2,500) - -
Jerwood Foundation 15,080 (15,080) - -
Baring Foundation 9,350 (9,350) - -
Christiaen Van Lanschot 9,350 (665) - 8,685
Soldiers of Oxfordshire Museum 10,180 (1,516) - 8,664
Cheshire Community 1,996 (1,996) - -
77,380 (67,627) - 9,753
Endowment funds
Outside In Endowment Fund - - 3,254 3,254
TOTAL FUNDS 997,117 (1,189,048) 3,254 (188,677)

16. RELATED PARTY DISCLOSURES

During the year ended 31 March 2025 the Charity received a donation of £1,500 from Charles Rolls, a Trustee of the Charity, in respect of a donated fee for a speech at an event.

The Trustees are able to purchase works of art from the Charity and the artists on the same terms as members of the general public.

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Friends subscriptions
Patrons subscriptions
Other trading activities
Art work and postcard sales
Sponsorships
Other revenue
Conference and exhibition fees
Investment income
Dividend income
Total incoming resources
EXPENDITURE
Other trading activities
Payment for art sales
Frames and materials
Investment management costs
Portfolio management
Charitable activities
Wages
Social security
Pensions
Rent, rates and water
Insurance
Telephone
Postage and stationery
Exhibition and fairs
Sundries
Project delivery freelance
Project expenses
Support days
Travel and subsistence
Computers and software
Staff costs
Carried forward		 2025
£
35,966
416,871
210
19,000
472,047
51,122
6,000
1,996
-
59,118
40,830
571,995
-
3,071
3,071
2,424
354,514
27,920
7,507
9,941
2,076
4,596
5,503
3,710
770
32,358
24,310
2,394
15,441
19,229
54,891
565,160		 2024
£
50,067
323,479
315
5,600
379,461
22,899
5,000
2,950
1,961
32,810
12,851
425,122
2,991
4,256
7,247
1,085
317,975
23,822
7,058
18,350
3,011
4,791
12,790
10,584
1,532
43,072
30,090
1,952
24,111
15,423
31,200
545,761

This page does not form part of the statutory financial statements

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DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Charitable activities
Brought forward
Access support
Venue hire
Subscriptions
Support costs
Finance
Bank charges
Governance costs
Independent examination fees
Professional fees
Total resources expended
Net expenditure before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net expenditure		 2025
£
565,160
13,666
3,917
739
583,482
227
6,420
9,252
15,672
604,876
(32,881)
39
(32,842)		 2024
£
545,761
13,131
4,333
1,513
564,738
266
4,910
5,926
10,836
584,172
(159,050)
(15,178)
(174,228)

This page does not form part of the statutory financial statements

Page 24