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2025-03-31-accounts

Charity registration number 1184073

Company registration number 10098742 (England & Wales) (A company limited by guarantee)

SUNDERLAND CULTURE LIMITED

Annual report and financial statements

For the year ended 31 March 2025

SUNDERLAND CULTURE LIMITED

CONTENTS

Page
Reference and administrative details 1
Trustees’ Report 2 - 9
Independent Auditors Report 10 - 12
Consolidated Statement of Financial Activities 13 - 14
Consolidated Balance Sheet 15
Charity Balance Sheet 16
Consolidated Cash Flow Statement 17
Notes to the Consolidated Financial Statements 18 - 31

SUNDERLAND CULTURE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees A R Mackay
G E Callaghan
J M Earl (Chair)
K Ramanathas
S I Rymer
M Nixon
Prof D R Sandbach
M M Daurat
Cllr B V Jones – appointed 17 June 2024
N Smith - appointed 8 July 2024
C E Auld – appointed 11 December 2024
H P Driscoll – appointed 16 June 2025
Secretary I High
Key Personnel R Ball (Chief Executive) – resigned 31 July 2024
N Malyan (Chief Executive) – appointed 30 September 2024
I High (Director of Finance and Administration)
Company Registration Number 10098742 (England & Wales)
Charity Registration Number 1184073
Registered office National Glass Centre
Liberty Way
Sunderland
SR6 0GL
Bankers Handlesbanken
43 Old Elvet
Durham
DH1 3HN
Auditors Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
NE2 1TJ

1

SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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

The charitable company’s object and principal activity is to:

ACHIEVEMENTS AND PERFORMANCE

Sunderland Culture’s mission is to improve life for everyone in Sunderland through culture. We are a pioneering place-based partnership formed in 2016, by University of Sunderland, Sunderland City Council and Sunderland Music, Arts and Culture Trust, to take forward an ambitious cultural vision for the city. Firmly place-focused in our creative and cultural ambition, we work across Sunderland to ensure the power of art, culture and creativity is harnessed for the benefit of the city and its people. We are an independent company limited by guarantee, a registered charity and have a trading subsidiary, Sunderland Culture Trading which became dormant from 1 October 2023.

Through a Collaboration Agreement, we build on our founding partners’ civic, educational and philanthropic commitment to Sunderland’s communities and to realising the city’s cultural potential. We bring together the assets, activities and resources from the three partners, alongside investment from Arts Council England, other charitable trusts and foundations and earned income. As we approach the 10[th] anniversary of our foundation we continue to review our purpose and practice in the light of a decade’s experience of delivering on our mission.

To achieve our place-based mission, we are guided by five core aims:

Our impact comes from our own activities and by enabling other organisations to deliver on their mission and purpose. We are committed both to delivering wide ranging and deep cultural engagement, and to strengthen the city’s creative ecology by supporting and partnering with other parts of the arts and wider civic society. Our goal of facilitating world-class cultural opportunities for everyone remains unchanged, as is our ambition to learn and grow for the future

2

SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

During 2024/25 we delivered a city-wide creative programme of arts activities with communities across the city, including our pioneering place partnership Culture Start. We also deliver an ambitious, diverse and high quality programme of exhibitions, events and engagement in four cultural venues

We delivered a diverse cultural programme with 118 exhibitions, performances and events. We welcomed more than 480,000 visitors to the venues, with over 42,000 people taking part in creative activities in-venue our as part of our city-wide programmes.

Our year in figures

483,031 Visitors 188 Artist and freelancer collaborations

118 Exhibitions, performances and events

45 Unlock grants for creatives

42,779 Participants 47 Ignite grants for young people

10,346 School visitors 895,278 Website visitors 331 Volunteer hours 101,969 Social media followers

2024/25 Selected Highlights

Partnerships

In addition to our founding partners, we also work with local, regional and national partners to raise aspirations, provide impact in local communities and deliver world-class cultural experiences;

Theatre Nation Partnership

A multi-year programme delivered with The National Theatre and Sunderland Empire including;

Culture Start

Culture Start is a pioneering new programme creating opportunity for children and young people with lived experience of poverty across Sunderland. An Arts Council of England Place Partnership the project brings together strategic partners from across the city and region including strategic partners; All Together Consortium, Children North East, Gentoo, MAC Trust, NE Youth, Sunderland City Council, Sunderland College, Together for Children and University of Sunderland and is also supported by delivery partners from across the community and cultural sector. In the first year of the programme Culture Start provided 2359 engagements across the city, delivered poverty proofing training in organisations and venues and engaged more than 40 artists.

3

SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Autonomy

Autonomy was a new initiative working with education partners across the city to provide museum and gallery based opportunities for neurodivergent young people. Funded by the Association of Independent Museums through Know Your Neighbourhood funding the entire programme was devised by participants and included workshops, visits and events taking place across cultural venues in the city. A new, regular group – Special Interests Club – was set up at Arts Centre Washington and continues to meet on an ongoing basis. The project’s success has seen nominations for cultural and educational sector awards and extension funding into a second year of delivery in partnership with Sunderland College.

The Ballad of the Crocodile and the Underpass

The Ballad of the Crocodile and the Underpass – Stories of Washington New Town, is an award-winning podcast partnership between Washington Heritage Partnership, We Make Culture, University of Sunderland, BaselineShift and Arts Centre Washington.

Since April 2024 this partnership, podcaster and musician Grace Stubbings and the Washington community podcasting group have been working with people and organisations in Washington to collect and share experiences of life in a new town. Musicians Paige Temperley and David Brewis (Field Music) worked with community members and young people at Arts Centre Washington to turn stories of Washington into songs. The songs, interviews, sounds and archive recordings have been woven together to create unique ballad podcasts.

The group have been influenced by the radio ballad work of Charles Parker, Ewan MacColl and Peggy Seeger who made radio ballads about working class stories in the 1950s and ’60s for the BBC. The project has since been turned into a successful performance and documentary, and the community podcast group continue to meet weekly at Arts Centre Washington.

Venue programme

Our activities this year have provided a creative programme both rich in quality and far-reaching in impact. Nowhere is this more evident than in our free-to-enter public venues, where we deliver outstanding, year-round cultural experiences. This year, those venues welcomed nearly half a million visitors , 40,000 participants and more than 10,000 school and college students .

Arts Centre Washington

The Centre welcomed visiting dance including Ballet Lorent’s The Velveteen Rabbit and hosted the National Theatre’s Connections Festival for youth theatre. Bright Lights Youth Arts Festival 2025 delivered its largest programme yet with 23 free events across city venues, from exhibitions and film showcases to performances, upcycling workshops and music from emerging bands. Our partnership with Film Hub North expanded the film offer, adding Heritage Reels, Film and Fun, Rock Docs and Sunderland Film Club. Exhibitions featured Andrew Tifts’s portraits of Washington care-home residents and Lena Archibald’s Felting Connections , telling stories of migration and resilience. Overall, the Centre strengthened its role as a creative, inclusive hub for Sunderland and member of the national Future Arts Centre’s network.

National Glass Centre

Glass World highlighted international artists from the Centre’s collection, while the Bernard Lloyd Collection showcased major figures such as Chihuly and Littleton. Effie Burns’ new work, created through a three-centre collaboration, toured to the Balcony Gallery. Graduate exhibitions were followed by People’s Art , commissioning five artists to respond to Folk Art objects; the show later toured to the Harley Gallery.

4

SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Northern Gallery for Contemporary Art

The gallery presented two rare painting shows: Laura Lancaster’s major solo exhibition My Echo, My Shadow , and Seb Trend’s XTRALIFE of ‘melted photographs’. Autumn focused on working-class histories with Fixing Time , a two-venue retrospective of Ian Macdonald attracting national acclaim and strong visitor engagement. To mark the 40th anniversary of the Miners’ Strike, Jeremy Deller’s The Battle of Orgreave was shown alongside period photographs. Winter exhibitions explored portraiture and community, including The Skin We Live In and Harry Griffin’s first gallery show, accompanied by a widely viewed interview film. The NGCA Collection continued to grow with new works by Macdonald and Trend as well as Janina Sabaliauskaitė, Johannah Churchill and Michael Daglish.

Sunderland Museum & Winter Gardens

As part of the dual programme with NGCA, Fixing Time highlighted Macdonald’s industrial and portrait work, inspiring workshops, talks, and family activities. Coal Face combined tintype photography and film by Sunderland’s Andy Martin with verbatim poetry by Louise Powell to share miners’ stories, supported by a study day and community activities. Our Creative Age participants co-created coal-mining themed sensory resource boxes for care settings as part of a national “Working Together” project. The Older Women’s Artist Collective collaborated with photographer Sophie Piper on Re-visualising Women’s Work . Young people from the Celebrate Different Collective reinterpreted collection objects through an environmental lens, debuting their takeover tours during the 2025 Bright Lights Festival.

Growing our creative economy

Sunderland Culture continues to play a leading role in the city’s cultural and creative sector. In 24/25 we employed more than 180 freelance creatives – we worked with artists across in a range of ways, from session-based delivery to artistic commissions and residencies. We also commissioned producers, technicians and other offstage professionals whose vital contribution can sometimes be overlooked.

In December hosted an annual Creative Forum at Southpaw studios in the newly opened Sheepfolds stables. The event was attended by more than 40 artists and creative businesses from across the city with presentations on exciting new projects, business and enterprise support schemes.

Our Unlock sector-support programme awarded grants totalling more than £68,000 to 45 creative businesses looking to scale up or develop new products or markets in the city. The programme has been delivered on behalf of University of Sunderland’s Innovate and Grow project, funded by the UK Shared Prosperity Fund (UKSPF). Additionally, Culture Start awarded more than £21,000 of support to talented young creatives who face socioeconomic barriers to entry in the sector.

Finally, in January of 2025 we received news that our application for to DCMS’s Cultural Development Fund had been successful. This provides £5m of support to our efforts to safeguard the future of glass making in the city through the establishment of Glassworks: Sunderland. Glassworks will be a £7.5m world-class facility for people of all ages to create in glass and a catalyst for creative regeneration in the Sunniside area of the city.

FINANCIAL REVIEW

The Sunderland Culture Finance Committee met quarterly during this financial year, supported by Rebecca Ball and Nick Malyan as CEO’s and Ian High, Director of Finance and Administration.

The Chair of the Finance Committee briefs the full charity board during the quarterly board meetings of the financial performance of the organisation. We would like to thank Roy Sandbach for his work as chair.

5

SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Systems continue to be prioritised and implemented within the organisations financial structure including.

Sunderland Culture continues to contribute to the salary costs of employees directly employed by our founding partners who support the delivery programme across the five core venues. We have been a Real Living Wage employer since 1 April 2023.

The investment through Arts Council England’s NPO programme of £634,200 p/a continued to provide vital support for the organisation’s core activities and operations. We are incredibly grateful for an uplift in funding from ACE from our previous annual amount of NPO funding of £509,200 and we are pleased to have funding for an additional year confirmed to April 2027, with the possibility of a further year to April 2028.

In addition, we continue to be very grateful to our other funders (Listed below) who provide restricted funding to support our creative programme and projects.

We must also note the considerable support and ongoing investment of our founding partners with respect to the maintenance, operation, and management of the core venues. This investment may be in-kind, but it remains crucial in enabling the delivery of the cultural programme. We are indebted to our partners for their continued investment and support for culture in Sunderland, without which Sunderland Culture would not be able to continue to deliver its programmes.

The Trustees considered it appropriate to hold the equivalent of three months of total income which would equate to holding approximately £206,000 in free reserves. The board are committed to rebuilding the free reserves to this level over the next three years. At the year end, free reserves were £217,774 (2024: £119,771) an increase of £98,003 because of the surplus in the year.

PLANS FOR THE FUTURE

The beginning of 2025/26 saw the initial impact of a new major project for Sunderland Culture. Culture Start - a partnership between Together for Children, Children North East, North East Youth, Gentoo, Sunderland City Council, Sunderland College, University of Sunderland, the Local Cultural Education Partnership, MAC Trust and Sunderland Culture, with all partners committed to working together to significantly increase equality of access to cultural opportunities for children and young people impacted by poverty in Sunderland.

The University of Sunderland’s planned closure of the National Glass Centre in 2026 and relocation of Northern Gallery for Contemporary Art will require us to adapt our activities and identify new offices for the organisation.

The news of major development funding for the refurbishment of the Museum and Winter Gardens is excellent news for the city but will require Sunderland Culture to operate our programs in a different way. We are working closely with the city Council and other funders to identify how our work can support the strategic objectives for the city and how we can use arts and culture to promote pride in the area and improve social cohesion.

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SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

List of funds

STRUCTURE, GOVERNANCE AND MANAGEMENT

The trustees who served throughout the year and up to the date of signature of the financial statements were:

A R Mackay G E Callaghan J M Earl (Chair) K Ramanathas S I Rymer M Nixon Prof D R Sandbach M M Daurat Cllr J Price – resigned 17 June 2024 Cllr B V Jones – appointed 17 June 2024 N Smith - appointed 8 July 2024 C E Auld – appointed 11 December 2024 H P Driscoll – appointed 16 June 2025 I Kershaw – resigned 27 January 2025 P J McIntyre – resigned 11 December 2024 M W Young – resigned 16 June 2025

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SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Governance

During the financial year of 2024/25, three of our Trustees, Cllr John Price, Peter McIntyre and Ian Kershaw resigned from the Board.

Prior to the production of these financial accounts Prof Michael Young also resigned, we are very grateful to them all for their contributions to Sunderland Culture. In their place, during the 2024/25 financial year we were very pleased to welcome three new Trustees Cllr Beth Jones and Catherine Auld from our founding partner Sunderland City Council and a new independent Trustee Neil Smith. Prior to the production of these accounts Professor Helen Driscoll from our founding partner the University of Sunderland was also appointed to the board.

We also welcomed Nick Malyan as our new Chief Executive in September 2024, following the departure of Rebecca Ball to become Director for the North for Arts Council England. We record our thanks to Rebecca for all she did for the organisation and are delighted that Nick has taken up the reins so ably.

The confirmation of the University of Sunderland plans to close the NGC in July 2026 has caused some reputation damage and we continue to work with the University and the City Council to play our part in identifying options for the future of glass making in Sunderland , bolstered by a significant capital grant from ACE is helping the Board to think through the options for longer term delivery and partnerships.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also Directors of Sunderland Culture Limited for the purposes of company law) are responsible for preparing the Board of Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

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SUNDERLAND CULTURE LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

AUDITOR

Robson Laidler Accountants Limited were elected as auditor for the ensuing year at the Annual General Meeting in accordance with section 487 of the Companies Act 2006.

Approved by the Board on …………………. and signed on their behalf by:

J M Earl

Chair & Trustee

9

SUNDERLAND CULTURE LIMITED

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SUNDERLAND CULTURE LIMITED

Opinion

We have audited the financial statements of Sunderland Culture Limited (the ‘charitable parent company’) and its subsidiary (the ‘group’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, Group and Charitable Company Balance Sheet, the Cash Flow Statement and notes to the financial statements, 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).

In our opinion the financial statements:

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 Auditor’s 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 UK, including the FRC’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 groups and the parent charitable company’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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's 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 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.

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SUNDERLAND CULTURE LIMITED

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SUNDERLAND CULTURE LIMITED

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 group’s and parent charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of financial statements

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 auditor's 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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The risk of material misstatement due to error or fraud has been assessed in conjunction with how internal controls may mitigate any such risk. These controls are reviewed as part of the audit by performing systems walkthroughs to ensure they are operating effectively. Analytical review and substantive testing is also performed on all material balances and therefore any instances of non-compliance should be identified or considered as insignificant. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team;

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SUNDERLAND CULTURE LIMITED

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF SUNDERLAND CULTURE LIMITED

The risk of management override of controls was also considered an area of potential misstatement due to fraud. Audit procedures performed included testing of manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business.

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 auditor's report.

Use of this report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicholas Cunningham MSc BSc ACCA (Senior Statutory Auditor) For and on Behalf of Robson Laidler Accountants Limited

Statutory Auditor

Fernwood House Fernwood Road Jesmond Newcastle Upon Tyne NE2 1TJ

Date:

12

SUNDERLAND CULTURE LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)

Current financial year
Notes
Unrestricted
funds
£
Income and endowments from:

Donations and legacies
2
13,518
Charitable activities
3
631,700
Other trading activities
4
168,821
Investments
19,677
Other income
5
156,987
Total income
990,703

Expenditure on:

Raising funds
(10,109)
Charitable activities
6
929,502
Total expenditure
919,393

Net movement in funds
71,310

Gross transfers between funds
17
75,168
Net movements between funds
146,478

Reconciliation of funds

Fund balances at 1 April 2024
17
131,977

Fund balances at 31 March 2025
17
278,455		 Restricted
funds
£

1,100,006
599,980
-
-
-
1,699,986


-
1,151,690
1,151,690

548,296

(75,168)
473,128


168,275

641,403		 Total
2025
£

1,113,524
1,231,680
168,821
19,677
156,987

2,690,689


(10,109)
2,081,192
2,071,083

619,606

-
619,606


300,252

919,858		 Total
2024
£
470,547
661,110
853,237
1,392
224,629

2,210,915


685,852
1,425,214

2,111,066

99,849
-
99,849
200,403

300,252

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

13

SUNDERLAND CULTURE LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES)

Prior financial year

Notes
Unrestricted
funds
£
Income and endowments from:

Donations and legacies
2
27,704
Charitable activities
3
639,865
Other trading activities
4
853,237
Investments
1,392
Other income
5
224,629
Total income
1,746,827

Expenditure on:

Raising funds
685,852
Charitable activities
6
1,028,883
Total expenditure
1,714,735

Net movement in funds
32,092

Transfers between funds
17
-
Net movement in funds
32,092

Reconciliation of funds

Fund balances at 1 April 2023
17
99,885

Fund balances at 31 March 2024
17
131,977		 Restricted
funds
£

442,843
21,245
-

-
464,088


-
396,331
396,331

67,757

-
67,757


100,518

168,275		 Total
2024
£

470,547
661,110
853,237
1,392
224,629

2,210,915


685,852
1,425,214
2,111,066

99,849

-
99,849


200,403
300,252

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

14

SUNDERLAND CULTURE LIMITED

CONSOLIDATED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025

Notes
Fixed assets
Intangible fixed assets
12
Tangible assets
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within 1
year
16
Net current assets
Net assets
Reserves
Unrestricted funds
17
Restricted funds
17
Total reserves		 2025
£





603,043
784,227
1,387,270
(528,093)






 2025
£

60,134
547
60,681





859,177

919,858


278,455
641,403
919,858		 2024
£





598,787
817,897
1,416,684
(1,128,638)







 2024
£
11,664

542

12,206






288,046


300,252



131,977

168,275

300,252

These financial statements were approved by the Board of Trustees on …………………and are signed on their behalf by:

J M Earl Chair & Trustee

Company registration number: 10098742

The notes on pages 18 to 31 form part of these financial statements

15

SUNDERLAND CULTURE LIMITED

CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025

Notes
Fixed assets
Intangible fixed assets
12
Tangible fixed assets
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within 1
year
16
Net current assets
Net assets
Reserves
Unrestricted funds
17
Restricted funds
17
Total reserves		 2025
£





603,033
768,624
1,371,657
(522,364)







 2025
£

60,134
547
60,681





849,293

909,974


268,571
641,403
909,974		 2024
£





615,929
783,554
1,399,483
(1,111,212)







 2024
£
11,664
542

12,206






288,271


300,477



132,202

168,275
300,477

These financial statements were approved by the Board of Trustees on …………………and are signed on their behalf by:

J M Earl Chair & Trustee

Company registration number: 10098742

The notes on pages 18 to 31 form part of these financial statements

16

SUNDERLAND CULTURE LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net cash provided by (used in) operating activities
19
Cash flows from investing activities
Interest received
Purchase of tangible fixed assets
Purchase of intangible fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20		 2025
£
10,677
19,677
(520)
(63,504)
(44,347)
(33,670)
817,897
784,227		 2024
£
561,323
1,392
-
(11,664)
(10,272)
551,051
266,846
817,897

All of the cash flows are derived from continuing operations during the above two periods.

17

SUNDERLAND CULTURE LIMITED

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

1. Accounting policies

Sunderland Culture Limited is a private company limited by guarantee incorporated in England and Wales. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

The registered office is National Glass Centre, Liberty Way, Sunderland SR6 0GL.

1.1 Basis of preparation of financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on a going concern basis. The charity’s forecasts and projections for the next 12 months show that the charity should be able to continue in operational existence for that period. The charity has strong positive cash balances and is forecasting for this to continue to be the case. The Trustees have stress tested their forecasts, taking into account various scenarios, and remain confident that the uncertainties do not cast significant doubt on the company’s ability to continue as a going concern.

Sunderland Culture Limited meets the definition of a public benefit entity entry under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2 Basis of consolidation

The group financial statements consolidate the financial statements of the charitable company and its wholly owned subsidiary undertaking, Sunderland Culture Trading Limited, on a line-by-line basis. A separate Statement of Financial Activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

1.3 Fund structure

The charity has restricted funds to account for the donor requiring that the donation must be spent on a particular purpose. All other funds are unrestricted income funds. The funds held in each of these categories are disclosed in the Reserves Notes.

Unrestricted funds comprise those funds which the trustees are free to use for any purpose to furtherance the charitable objectives.

Designated funds are amounts which have been put aside at the discretion of the trustees and are therefore not available for other purposes.

Restricted funds represent grants, donations, legacies and assets which are allocated by the donor for specific purposes.

18

SUNDERLAND CULTURE LIMITED

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

1.4 Income

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Grants receivable are recognised when the charity has entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to release.

Donations and legacies are recognised when the charity is notified in writing of both the amount and settlement date. In the event a donation is subject to conditions that require a level of performance by the charity, the income is deferred and not recognised until those conditions are met.

Incoming resources from tax reclaims are included in the Statement of Financial Activities at the same time as the gift to which they relate.

Where a gift in kind is given to the charity and it can be reliably measured, the gift is shown in both voluntary income and charitable activities.

Investment income is recognised on a receivable basis, when the amount can be measured reliably. This is normally upon notification from the bank.

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 benefit will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources.

All expenditure is inclusive of irrecoverable VAT,

1.6 Intangible assets

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

19

SUNDERLAND CULTURE LIMITED

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

1.7 Fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment - 33 % straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities. The group has a policy not to capitalise individual assets costing under £300.

1.8 Fixed asset investments

Investments in subsidiaries at valued at cost less provision for impairment.

1.9 Impairment of fixed assets

Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared against its carrying amount. Where the estimated recoverable amount is lower, an impairment loss is recognised immediately in profit and loss.

1.10 Stock

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

1.11 Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are initially recognized at transaction price.

1.12 Trade creditors

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are initially recognized at transaction price.

1.13 Cash at bank and in hand

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

As a charity, the company is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

1.15 Pensions and other post-retirement obligations

The group operated a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognized in the Statement of Financial Activities when they are due.

20

SUNDERLAND CULTURE LIMITED

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

1.16 Estimation uncertainly and judgements

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

2. Donations and legacies

Donations
Grants
Donations
Grants
3. Income from charitable activities
National Portfolio Organisation
Arts Council Cultural Compacts
Other public funding
National Portfolio Organisation
Arts Council Cultural Compacts
Other public funding		 Unrestricted
funds
£
13,518
-
13,518
Unrestricted
funds
£
27,704
-
27,704
Unrestricted
funds
2025
£
631,700
-
-
631,700
Unrestricted
funds
2024
£
634,200
-
5,665
639,865		 Restricted
funds
£

149,312

950,694

1,100,006
Restricted
funds
£

22,402

420,441

442,843
Restricted
funds
2025
£

-

599,980

-
599,980
Restricted
funds
2024
£

-
16,445

4,800

21,245		 Total
2025
£
162,830
950,694
1,113,524
Total
2024
£
50,106
420,441
470,547
Total
2025
£
631,700
599,980
-
1,231,680
Total
2024
£
634,200
16,445
10,465
661,110

3. Income from charitable activities

21

SUNDERLAND CULTURE LIMITED

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

4. Other trading activities
Trading income
Events income
5. Other income
HMRC tax relief claim
Other income
6. Charitable activities
Staff costs and partner payments (see note 9)
Programme costs
Learning and engagement costs
Venue marketing
Support costs (note7)
Governance costs (note 7)
Total charitable activities
Analysis between funds
Unrestricted funds
Restricted funds		 Unrestricted
funds
2025
£
168,821
168,821
Unrestricted
funds
2025
£
150,651
6,336
156,987


 Total
2025
£
168,821
168,821
Total
2025
£
150,651
6,336
156,987
Total funds
2025
£
1,138,804
695,804
27,548
109,160
1,971,316
96,376
13,500
2,081,192
929,502
1,151,690
2,081,192		 Total
2024
£
853,237
853,237
Total
2024
£
198,185
26,444
224,629
Total
2024
£
988,623
217,320
26,418
66,218
1,298,579
115,435
11,200
1,425,214
1,028,883
396,331
1,425,214

22

SUNDERLAND CULTURE LIMITED

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

7. Analysis of support and governance costs

General office costs
Memberships and subscriptions
Telephone and internet
Legal and professional fees
Depreciation and amortization
Other costs
Auditors’ remuneration
General office costs
Memberships and subscriptions
Telephone and internet
Legal and professional fees
Depreciation and amortization
Other costs
Auditors remuneration		 Support
Costs
2025
£
7,856
35,255
8,152
8,820
15,549
20,744
-
96,376
Support
Costs
2024
£
4,824
43,973
2,101
22,666
11,073
30,798
-
115,435		 Governance
costs
2025
£

-

-

-

-

-

-

13,500

13,500
Governance
costs
2024
£

-

-

-

-

-

-

11,200

11,200		 Total
2025
£

7,856

35,255

8,152

8,820

15,549

20,744

13,500

109,876
Total
2024
£

4,824

43,973

2,101

22,666

11,073

30,798

11,200

126,635

8. Net incoming / outgoing resources

Audit fees
Depreciation and amortization		 Total
202
£
Total
2024
£
13,500
11,200
15,549
11,073

23

SUNDERLAND CULTURE LIMITED

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

9. Staff costs
Wages and salaries
Social security costs
Pension contributions
Other staff costs
Partner contributions		 2025
£
555,198
50,173
17,953
15,480
500,000
1,138,804		 2024
£

399,598

50,122

17,764

21,139

500,000

988,623

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

Managerial
Officers (including casual staff)
The number of employees whose emoluments fell within the following bands
£70,001 - £80,000		 2025
No
6
15
21
was
2025
No
-		 2024
No
5

37

42
.
2024
No

1

The total employee benefits of the key management personnel of the group were £328,605 (2024 - £263,338)

10. Trustees’ remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2024: £nil).

During the year ended 31 March 2025, no trustees’ expenses have been incurred (2024: £nil).

11. Taxation

The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

24

SUNDERLAND CULTURE LIMITED

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

12.
Intangible fixed assets
Group and charity
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
Eliminated on disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
13.
Tangible fixed assets
Group and charity
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Eliminated on disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Software
£
11,664
63,504
-
75,168
-
15,034
-
-
60,134
11,664
IT
Equipment
£
22,611
520
-

Total
£
11,664
63,504
-
75,168
-
15,034
-
-
60,134
11,664
Total
£

22,611

520

-













23,131
23,131
22,069
515
-
22,069

515

-
22,584
22,584
547 547
542
542

25

SUNDERLAND CULTURE LIMITED

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

14. Fixed asset investments

Subsidiaries

The following was a subsidiary undertaking of the charity:

Name of undertaking
Nature of business
Sunderland Culture Trading
Limited
Support activities to performing arts
Registered office address (UK unless otherwise indicated):
National Glass Centre, Liberty Way, Sunderland SR6 0GL
The financial results of the subsidiary were as follows:
Income
Expenditure
Profit / (loss) for the year
Net assets		 Class of
shares
By guarantee
2025
£
-
10,109
10,109

9,884		 % Held
Direct
100
2024
£
685,627
(685,852)
(225)
(225)

15. Debtors

Trade debtors
Amount owed by group undertaking
Prepayments
Accrued income
Other debtors		 Group
2025
£
90,113
-
2,020
505,435
5,475
603,043		 Group
2024
£
3,646
-
12,171
529,337
53,633
598,787		 Charity
2025
£

90,113

-

2,020

505,435

5,465

603,033		 Charity
2024
£
2,269
25,085
12,171
529,337
47,067
615,929

26

SUNDERLAND CULTURE LIMITED

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

16. Creditors: amounts falling due within 1 year

Trade creditors
Amounts owed to group undertakings
Taxation and social security
Other creditors
Accruals and deferred income
Statement of funds
Group
Balance at
1 Apr 2024
£
Unrestricted funds
General fund
131,977
Restricted funds
Arts Council England
5,704
Museums and Galleries
61,931
National Theatre
55,331
Local Government
10,053
Heritage
34,950
Other restricted funds
306
Total restricted funds
168,275
Total funds
300,252		 Group
2025
£
436,235
-
13,972
6,832
71,054
528,093
Income
£

990,703

733,780

11,126

372,050

520,311

46,724

15,995

1,699,986

2,690,689		 Group
2024
£
449,966
-
9,723
-
668,949
1,128,638
Expenditure
£

919,393

262,974

64,868

274,084

463,002

70,461

16,301

1,151,690

2,071,083



Charity
2025
£
436,235
15
17,075
-
69,039
522,364
Transfers
£

75,168

-

-

-

(75,168)

-

-

(75,168)

-		 Charity
2024
£
449,939
-
9,723
-
651,550
1,111,212
Balance at
31 Mar 2025
£

278,455
476,510
8,189
153,297

(7,806)

11,213

-
641,403

919,858

17. Statement of funds

27

SUNDERLAND CULTURE LIMITED

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

17. Statement of funds (continued)

Charity
Unrestricted funds
General fund
Restricted funds
Arts Council England
Museums and Galleries
National Theatre
Local Government
Heritage
Other restricted funds
Total restricted funds
Total funds		 Balance at
1 Apr 2024
£
132,202
5,704
61,931
55,331
10,053
34,950
306
168,275
300,477		 Income
£

990,703

733,780

11,126

372,050

520,311

46,724

15,995

1,699,986

2,690,689		 Expenditure
£

929,502

262,974

64,868

274,084

463,002

70,461

16,301

1,151,690

2,081,192		 Transfers
£

75,168

-

-

-

(75,168)

-

-

(75,168)

-		 Balance at
31 Mar 2025
£

268,571
476,510
8,189
153,297

(7,806)

11,213

-

641,403

909,974

The purpose of the restricted funds is as follows:

28

SUNDERLAND CULTURE LIMITED

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

18. Analysis of net assets between funds

Group
Intangible fixed assets

Tangible fixed assets

Net current assets/(liabilities)

Total net assets
Group
Intangible fixed assets

Tangible fixed assets
Net current assets/(liabilities)
Total net assets
Charity
Intangible fixed assets

Tangible fixed assets

Net current assets/(liabilities)

Total net assets
Charity
Intangible fixed assets

Tangible fixed assets
Net current assets/(liabilities)
Total net assets		 Unrestricted
General
2025
£
60,134
547
217,774
278,455
Unrestricted
General
2024
£
11,664
542
119,771
131,977
Unrestricted
General
2025
£
60,134
547
207,890
268,571
Unrestricted
General
2024
£
11,664
542
119,996
132,202		 Restricted
2025
£

-

-

641,403

641,403
Restricted
2024
£

-

-

168,275

168,275
Restricted
2025
£

-

-

641,403

641,403
Restricted
2024
£

-

-

168,275

168,275		 Total Funds
2025
£

60,134

547

859,177

919,858
Total Funds
2024
£

11,664

542

288,046

300,252
Total Funds
2025
£

60,134

547

849,293

909,974
Total Funds
2024
£

11,664

542

288,271

300,477

29

SUNDERLAND CULTURE LIMITED

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

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income / (expenditure) for the year
Adjustments for:
Interest received from investments
Depreciation and amortization
Loss on disposal of fixed assets
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities		 2025
£
619,606

(19,677)
15,549
-
(4,256)
(600,545)
10,677		 2024
£
99,849
(1,392)
11,073
23,084
218,896
209,813
561,323

20. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2024
£
817,897
817,897
Cash flows
£

(33,670)

(33,670)
Other non-
cash changes
£
-

-
At 31 March
2025
£

784,227

784,227

21. Related party transactions

University of Sunderland is related to the charity via virtue of common officers. The charity has incurred costs from the University of Sunderland of £300,000 (2024: £315,407). University of Sunderland has made contributions to incoming resources of £57,697 (2024: £7,114).

At the balance sheet date, the amount due to University of Sunderland was £191,668 (2024: £211,111).

Sunderland City Council is related to the charity via virtue of common officers. The charity has incurred costs from the city council of £203,011 (2024: £200,553). Sunderland City Council also made contributions of incoming resources of £462,511 (2024: £5,382).

At the balance sheet date, the amount due to Sunderland City Council was £156,495 (2024: £211,111).

Sunderland Music, Arts and Culture Trust is related to the charity via virtue of common officers. The charity has incurred costs from Sunderland Music, Arts and Culture Trust of £1,000 (2024: £nil). Sunderland Music, Arts and Culture Trust also made contributions of incoming resources of £96,000 (2024: £75,434).

At the balance sheet date, the amount due to Sunderland Music, Arts and Culture Trust was £nil (2024: £nil).

We Make Culture is related to the charity via virtue of common officers. The charity has incurred costs from We Make Culture of £14,988 (2024: £500).

At the balance sheet date, the amount due to We Make Culture was £2,508 (2024: £nil).

ATG Entertainment Ltd is related to the charity via virtue of common officers. The charity has incurred costs from ATG Entertainment Ltd of £51,529 (2024: £411). ATG Entertainment Ltd also made contributions of incoming resources of £84,300 (2024: £nil).

At the balance sheet date, the amount due to ATG Entertainment Ltd was £14,333 (2024: £nil).

30

SUNDERLAND CULTURE LIMITED

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

21. Related party transactions (continued)

Tullie House Museum and Gallery Trust is related to the charity via virtue of common officers. The charity has incurred costs from Tullie House Museum and Gallery Trust of £5,400 (2024: £nil).

At the balance sheet date, the amount due to Tullie House Museum and Gallery Trust was £nil (2024: £nil).

31