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2025-03-31-accounts

Registered number: 11307517 Charity number: 1185771

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 22
Independent Examiner's Report 23
Statement of Financial Activities 24
Balance Sheet 25
Notes to the Financial Statements 26 - 43

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Yinnon Ezra MBE, Trustee (resigned 30 October 2024)
Kay May, Chair
David Drew, Trustee (appointed 20 November 2024)
Charlotte Marchant, Trustee (resigned 28 April 2024)
Jonathon Adams, Trustee
Dr Ronda Gowland-Pryde, Trustee
Ruth Rolfe-Tarrant, Trustee (resigned 30 July 2024)
Craig Wadman, Vice Chair
Liz Johnston, Trustee (appointed 29 October 2024)
Tony Spencer, Trustee (appointed 29 October 2024)
Company registered
number
11307517
Charity registered
number
1185771
Registered office
Ellen House
33 London Street
Andover
Hampshire
SP10 2NU
Independent Examiner
Xeinadin South East Limited
Suite 2 Healey House
Dene Road
Andover
Hampshire
SP10 2AA
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

Page 1

REPORT OF THE TRUSTEES

1 APRIL 2024 - 31 MARCH 2025

Creating Opportunity and Community through Art

CHAPEL ARTS STUDIOS

Chapel Arts Studios (CAS) is a socially engaged contemporary visual arts charity based in Andover, Hampshire. We are one of Arts Council England's National Portfolio Organisations (NPO).

CHARITY NUMBER 1185771 Limited Company Number 11307517

CAS charitable objects

  1. The advancement and promotion of the arts and, in particular, the social, economic and cultural contribution of visual arts for the public benefit.

  2. The advancement of education and the furtherance of public knowledge, understanding and appreciation of the arts and in particular the visual arts.

Registered Address:

Ellen House 33 London Street Andover SP10 2NU

CHAIR’S INTRODUCTION

I am delighted to introduce this Chapel Arts’ Trustees’ report. It contains a huge amount of information, capably compiled for me and my fellow Trustees by our hard-working staff. The information, of course, illustrates the overwhelming achievements accomplished over the past year. The feedback I have seen from members of the community demonstrates how valuable these achievements are to Andover.

We are committed to the cultural transformation of Andover and will continue to contribute as we have done over the past year, as well as providing an increasingly stimulating and nurturing environment for our Associate Artists.

Since 2018 CAS has established itself as a force of its own in the cultural life of Andover, the Test Valley and North Hampshire. It has grown from an artists’ community to so much more. Today CAS inspires and develops the next generation of artists and engages with communities in creativity and high quality visual arts. We inspire children, grow their skills and passion for art and support them through their art education, from junior to senior, until they join us on our graduate programme and develop into young professional artists who in turn can mentor and develop the younger generation.

CAS is now in its second round of NPO Arts Council funding. The original home at The Chapel now hosts artists’ residencies and high quality exhibitions for the benefit of local communities. We also run bespoke community activity at other sites including Andover College and the Town Centre. During the year we operated a second site as an additional venue on the High Street - CAS Community. CAS Community offered art courses and community engagement events in the centre of Andover many of which are either free or subsidised, to make them accessible to all.

CAS also runs a range of outreach art programmes in the communities of Test Valley and North Hampshire, supporting the development of young people and aspiring artists. These include The Ludgershall and Smannel Skate Park Youth Summer Camps, Whitchurch Children's Festival and The National Saturday Club. ESDA (Emerging Sculptor Development Award) is a programme for up and coming sculptors. It was supported through an exhibition at Sir Harold Hillier Gardens in Romsey.

Several programmes are being developed to ensure CAS’s socially-engaged priorities permeate our courses, events and exhibitions. These include our neurodivergent creatives, environment, social prescribing and vulnerable young people’s programmes.

Our Associate Artists are an important part of CAS. This is a network of artists from all backgrounds and genres who we support in a variety of ways including exhibitions, professional development sessions, group crit sessions and away days. Takeovers are an invaluable part of this programme which involves our Associate Artists taking over our gallery space at The Chapel for a week, exploring their practice, offering community engagement activities or curating their own exhibition.

2024/5, like the previous year has seen much change at CAS as we have grown and developed our work. We have introduced new Trustees and staff to help us deliver our mission and we look forward to our continued growth into the future ensuring that our dynamic organisation plays a key role in ensuring that Andover is a vibrant and cultural place to live and work.

……………………………..

Kay May Chair

OUR MISSION AND PURPOSE

We want to create opportunity and community through Art because we believe that art and culture can fundamentally transform lives. Through art we can engage, explore, challenge and create a landscape where people and communities communicate on the same level, thus creating a culture of possibility and community cohesion.

We believe that a culture of inclusion in art can create a level playing field for all and will create a home for everyone to enjoy, and with the right leadership, we can build a cultural and inspiring Andover.

We are part of the cultural transformation of Andover by championing inclusion and by creating possibilities. We create communities of artists and creatives, offering a home to them all, improving the health and wellbeing of the most disadvantaged. We are putting Andover on the cultural map.

It is our mission to inspire creativity and by working with our local communities we give a sense of belonging to everyone engaging with us. We develop and nurture artists of all ages to maximise their potential and inspire our communities by sharing high quality art with them.

During 2024/25 Chapel Arts Studios (CAS) continued its journey, following its strategy and delivering its Arts Council NPO (National Portfolio Organisation) targets which are closely aligned with CAS’ strategic aims. 2024/25 was the second of three NPO funding years.

Structure, Governance and Management

2024/25 was a period of significant transition for CAS with many changes of staffing and whilst we operated 2 venues for the entire year, the decision was made to move out of our High Street premises at the beginning of the next financial year (April 2025). The staffing changes included our Executive Director and Curator. These changes placed significant strain on staff, trustees and volunteers, but despite this, a full programme was offered.

CAS underwent a full restructure in 2023/24 which operated for most of 2024/25:

Executive Director

CAS underwent a full restructure in 2023/24 which operated for most of 2024/25: CAS underwent a full restructure in 2023/24 which operated for most of 2024/25: CAS underwent a full restructure in 2023/24 which operated for most of 2024/25: CAS underwent a full restructure in 2023/24 which operated for most of 2024/25: CAS underwent a full restructure in 2023/24 which operated for most of 2024/25: CAS underwent a full restructure in 2023/24 which operated for most of 2024/25: CAS underwent a full restructure in 2023/24 which operated for most of 2024/25:
Executive Director
CREATIVE ADMIN & CONTRACTORS
Creative
Communities
Programme
Lead
(65 High
Street)		 Exhibition
& Events
Lead and
Curatorial
Support		 Creative
People
Lead		 Contractors
Consultants
incl
Finance
Fundraising
HR Support		 Office
Manager		 Marketing and
Communications
Lead
Saturday
Assistant		 Technician Sat Club
Tutors		 Building
Contractor-
s
Commission-
ed Artists		 Intern &
Volunteers
(Chapel)		 Commission-
ed Artists		 Volunteers
Volunteers
(CAS
Community)

The Executive Director managed both the creative and administrative teams. The creative team was divided into three individual roles, each looking after distinct areas within our strategy - exhibitions and events, with particular emphasis on our Associate Artists, at the Chapel, operations at CAS Community, and the Outreach programmes.

We implemented a training programme with all staff receiving induction training. We have expanded our pool of volunteers who help us to deliver our exhibition and community programmes.

We continue to host a curatorial intern from Winchester College of Art who assists with our Open Open exhibition and our graduate programme exhibition.

Equality and Diversity

Diversity

The CAS team is committed to improving access to the arts for all people. Responses from our annual survey showed that staff, contractors and volunteers come from a mix of backgrounds. In 2024/5 our records show a majority of female staff, contractors and volunteers in the age bracket between 18-74, with the majority of paid artists and staff being 18-34. Our organisation is a supportive environment for artists/staff who identify as being neurodivergent. We will continue to work with our staff, contractors, volunteers and visitors in developing programmes that reflect their needs and offer an inclusive environment where everyone can feel safe and comfortable.

Neurodivergence Programme

Since 2022 CAS has developed its offering for neurodivergent creatives. It ran several workshops with neurodivergent people in partnership with Jon Adams and Flow Observatorium to identify the need and draft a policy which was developed and adopted in 2022. An easy read version has been available on the website since 2023.

The first stage in our programme implementation was the infusion of the support of neurodivergent people throughout CAS’ existing programmes and projects. This has resulted in focusing our National Saturday Club Programme on neurodivergent young people and our offer to parents of neurodivergent children for places in our Kids Club and Home Ed programme.

Our Communities

Andover has some of the most deprived neighbourhoods in Hampshire (lowest 20-30% nationally). As a socially-engaged arts organisation this creates many opportunities for CAS to have a positive impact. Despite being a relatively wealthy borough, there are pockets of high deprivation in Andover, surrounded by wealthy villages and suburbs.

Progress Summary

2024/25, like the year that preceded it, was marked by change. It is with great pleasure that we report huge progress in the delivery of our plans despite much change in our staffing and venues and associated pressures.

In 2022 the Board, staff, stakeholders and our artists all contributed to our strategy (20222027) which is based on three themes: place, people and programmes.

Place

By excelling as a centre for contemporary visual arts in Andover, Test Valley and North Hampshire we offer people within our communities the opportunity to engage in high quality creative activities and great art.

our new strand of ‘‘Artists’ Takeovers’ at The Chapel with our Associate Artists occupying the space for experimentation, exhibitions and events. This is a wonderful way to bring back a more experimental feel to the Chapel.

People

We have responded to the need of our communities and the demand for creative development, skills building, professional training, networking and collaborative project opportunities through a variety of activities which support the creative development of young and old:

Programmes

2024/25 gave us a chance to develop our three main programmes through individual projects, but also through integration into our day-to-day activities. We have learned and fine-tuned our approach:

Our Impact

We are committed to measuring our success by using the following outcomes:

CAS measures impact through a range of systems. Attendance records are kept, and participants are asked for feedback. We also run surveys to analyse our local audience in more detail.

This report highlights the progress and the great work CAS’ staff, its artists and a growing number of volunteers, as well as our trustees, have delivered during 2024/25. We would like to thank them all, as well as our partners, for enabling us to deliver our mission.

Our audiences

In 2024/25 we have been able to engage many more people in creative activities, both at our spaces and in the community, through town centre events - especially through our new CAS Community venue, which opened in September 2023 - spanning 2800 people, running 139 individual events and courses in 2024/25, a huge increase on previous years.

Our exhibitions have also steadily shown an increase in attendance with 9637 attendances over 21 weeks of exhibitions.

Fundraising:

Our programmes are funded through a variety of sources - Arts Council England, Garfield Weston, D’Oyly Carte, Hampshire County Council, Test Valley Borough Council and Whitchurch Children’s Festival. We are grateful for this support which allows us to have positive impact for our communities

Activities in 2024/25

The Chapel Gallery - Exhibition Programme:

The Chapel is our main residency and exhibition venue, bringing high quality exhibitions and events to Andover. Exhibition entry remains free to everyone and, as it is no longer a mixed use space, we are able to open it more often to the public to engage in great art. The most recent addition to our exhibition schedule is our Artist Takeover series where Associate Artists are able to use the space for experimenting or exhibiting with only one condition: they open to the public for a couple of days during their takeover period.

The Open Open 2024:

The Open Open 2024 exhibition Seeing Red ran for six weeks, with 227 visitors attending in total throughout the six weeks. 86 Artists applied to be part of the exhibition from a wide range of mediums and a wide geographical spread.

The Open Open is a key part of our programme bringing us into contact with a wide range of artists and creating a platform for Andover to play a role on the regional cultural stage.

Threads: The Stories that tie us together

This was the culmination of our graduate residency at Anton Junior School in Andover and involved our graduates, Kiri Horikiri-White and Hollie O’Brien exhibiting their work with the work produced over the previous few weeks by around 60 pupils.

Hollie and Kiri were supported by Freya (Xinyue), our curatorial intern from WSA.

Belonging - Hampshire Open Studios:

This was our annual Associate Artists Exhibition curated to coincide with Hampshire Open Studios. The combination of both ensured that we maximised visitor numbers. This year we had 14 Associate Artists exhibiting.

Expresslons In Clay - Chrls Bramble

Chris Bramble has dedicated his life to the art of ceramics, both as a creator and a teacher. This exhibition showcased diverse clay types and techniques, influenced by the rich tapestry of cultures and life experiences. From figurative to abstract forms, each piece reflected social, political, and personal perspectives, capturing the spirit of clay.

Expressions in Clay invited viewers to experience these reflections and to connect with the multifaceted layers of his work.

Chris graduated from The Glasgow School of Art. The contrast of his African heritage and European upbringing led to Chris’s warm, contemporary style, combining African forms and culture with modern techniques.

In 1985, Chris moved to Zimbabwe where he was influenced by methods of colloquial stone sculpture; he learned processes of carving serpentines and verdites, translating these new forms and techniques to his ceramic work.

Returning to London and gaining his masters in sculpture and multimedia at Westminster university, Chris then went on to set up his own studio in 1988. His ceramics are inspired by life, harmony, rhythm and dance and influenced by the people around him; their spirit and heartbeat are captured in his meditative process as he documents hidden aspects of today’s black culture.

This exhibition ran for 2 weeks attracting 132 visitors.

Perpetual Bendhu”, a continually evolving exhibition by multidisciplinary artist, Susan Francis

Perpetual Bendhu was an evolving installation by multidisciplinary artist and curator, Susan Francis MRSS. Inspired by the imagined interior of the extraordinary Bendhu House on the cragged Northern Irish Antrim coastline, this exhibition explored Susan’s own dream-like vision of Bendhu, and its strange and fantastical transformations.

The exhibition opened on 23 January and ran until 15 February 2025 attracting 162 visitors.

The Fairytale of Emotions - Faye Theocharous

A series of oil paintings by artist Faye Theocharous at The Chapel Gallery in Andover from Thursday 20 March until Saturday 19 April 2025.

Faye’s chimerical Surrealist style, bold use of colour, combination of charged subjects and relatable references simultaneously blend the dream and the nightmare. As well as exploring the feelings evoked by her own childhood with personal depictions of lived experiences and recollections, Faye touches on the heavier themes of corruption, politics and disasters which have taken place in recent memory in her native Greece.

She graduated from the Athens School of Fine Arts, and primarily works with oil on canvas. Faye has exhibited her work in numerous galleries across Greece, as well as in several exhibitions in the UK. Additionally, she has collaborated on projects in Spain and Hungary, and this spring, she will participate in an exhibition in Tokyo. Faye lives in London.

Workshops and Creative Activities:

World Street Party and Pot Luck Art

This project which culminated in the creation of large community created banners for the World Street Party started with an event called Pot Luck Art at the Andover Cultural Sharing Forum where Hannah Cantellow asked people to share their stories, memories and what they love about Andover and its people. The sharing forum created a wonderful series of words and drawings under various headings which were then translated into large banners.

These banners were further developed and coloured in during consecutive Fridays and Saturdays at CAS Community where everyone worked together to finalise the banners for hanging at the Street Party.

Street Art Lab

During the summer holidays and on sunny days we took over the front of the shop on the High Street for creative activities, including chalk painting on the pavement and other drawing activities. We have a large movable display board which we roll out into the High Street and where children can display their artwork.

The Beach

We created a giant sandpit (The Beach) at 65 High Street, bringing the beach to Andover. This activity was extremely popular during the summer holidays and every day we had children playing in the sand and using sticks and stones to draw and create patterns in the sand.

Artist Workshops:

We worked with a range of artists to develop a programme of participatory activities:

National Saturday Club

In 2024/ 25 we continued to deliver the National Saturday Club, with sessions at Andover College. The Club focused on the most vulnerable young people by working with partner organisations such as Kids On Track. By locating this Club at Andover College, we ensure that the young people get used to the college environment and therefore transition to Sixth Form more easily.

A Fest

During A Fest in Andover’s Market Square, CAS provided a free drop-in creative arts workshop for young people and their families.

Four Fun Fridays

Every year CAS works in collaboration with Test Valley Borough Council to provide free visual arts activities during Four Fun Fridays. In 2024/25 we participated in all four Fridays working with nearly 500 children and families.

ArtBlast

ARTblast summer camps took place in two locations this year: Ludgershall, Wiltshire and Smannel Skatepark in Andover. Kezia Hoffman, graffiti artist, worked with the young people, engaging them in fun and creative activities whilst youth workers from Yellow Brick Road Projects were able to build relationships with the most vulnerable young people. The theme this year was ‘Memories’ and young people from the age of 11 years - 18 years took part in the activities. This year in Ludgershall the young people were able to paint their own skate ramps.

EPR (Educational Project Residency) Programme

This year we offered the graduate residency to two artists: Hollie O’Brien and Kiri HorikiriWhite. They worked in collaboration with each other and Anton Junior School in Andover to provide 10 sessions with Year 4 students. The theme this year was Alfred the Great and Hollie and Kiri decided to explore storytelling through art with the children. This resulted in a wonderful series of paintings.

Kiri and Hollie worked with Xinyue Zhang, our curatorial intern from Winchester School of Art, to put together an exciting exhibition at the Chapel that showed both Hollie and Kiri’s work, as well as that of the children.

CAS Associate Artists

During 2024/25 we continued to offer an Associates’ Programme aimed at supporting working artists. The programme offers:

CULTURAL DEVELOPMENT IN ANDOVER

As an NPO, CAS has a responsibility to participate in and facilitate the cultural regeneration of Andover, and to support cultural provision for all.

ANCO (Andover Network of Cultural Organisations)

Initiated in 2022, the network is an Andover-wide collaborative of cultural organisations and events. With representation from the Council, the theatre, the library, the college, the museum and CAS as a core group and with CAS’ executive director chairing the group, ANCO has been driving a more coordinated approach to programme development across the organisations, resulting in various events, trails and projects. The network meets every other month and discusses potential joint projects. It is also an opportunity for CAS to brief other network members on future activities and projects with options to collaborate.

ENVIRONMENTAL ACTION

During 2024/25 we continued to implement our Environmental Action Plan. At The Chapel, and CAS Community, we incorporated environmental awareness into our programming and general business practice.

CAS PLAN FOR 2025-2026

We are focused on delivery of our plans and NPO objectives. Our specific focus areas for 2025/26 are as follows:

FINANCE

During 2024/25 our finance systems were managed by K Hams Bookkeeping and all our financial information is recorded online via Xero.

Our main expenditure is our staffing budget followed by the costs associated with delivering exhibitions, the associate programme and participation programme.

Our risk register is updated regularly and reported quarterly to the Board with an associated finance and director’s report.

Income

Income remains heavily reliant on grant funding (98%), with 85% of total income coming from Arts Council England (ACE), with whom we have National Portfolio status. This status guarantees CAS income to March 2026. It looks probable that there will be an additional year of NPO funding which will take us to March 2027 before we need to reapply to remain an NPO for the following 3 years (all NPO’s have to do this. We were also successful in obtaining additional funding mainly unrestricted funds) for specific project work (including funding for Social Prescribing work which will take place in 2025/26). This includes charitable activities and local authority grants.

Funds

Sculpture fund

Upon further examination of the grant documentation, it was concluded that the Sculpture Fund represents a designated reserve, not a restricted fund and therefore was transferred in the year.

Harrison Memorial Project

Funds set aside for events in memorial in future years.

The Social Prescribing (D'Oyly Carte)

A 4-week pilot to create a sustainable socially prescribed workshop series to support people with mental health challenges and associated addiction and anxiety disorders.

Garfield Weston

Earned Income

Our earned income is largely associated with workshops, ticketed events, the associate scheme and artwork sales. The decision to close our High Street space at the end of 2024/25 is likely to impact sales for participatory activity whilst we seek an alternative space.

Expenditure

Staffing - There was significant change within the year in the staffing team which makes comparison with previous years difficult. In the next financial year we anticipate this stabilising.

Legal fees - these relate to the costs incurred for the Community Space at 65 High Street, Andover.

Current Assets

The bulk of the current assets is the bank balance which remains buoyant mostly due to the retention of the Designated Fund and accumulated reserves.

Reserves Policy

CAS, with its trustees, have established a reserves policy of building sufficient reserves to sustain the organisation for at least the next twelve months.

Partners 2024/25

Test Valley Borough Council, Andover Museum, Yellow Brick Road Projects, Andover Primary Care Network, Friends of the Garden, Andover Vision, Unity Arts Studio, Anton Junior School, Hampshire County Council/Sir Harold Hilliers Gardens and Arboretum and Roche Court.

Funders 2024/25:

Arts Council England Garfield Weston Foundation D’Oyly Carte Charitable Trust Test Valley Borough Council

RISKS

With the decision to close the Community Space at 65 High Street we need to find a new sustainable home for this element of our work.

Staff: It has been a turbulent year in terms of staffing. CAS is already a small team, and this has been depleted for most of the year. Remaining staff have worked under considerable pressure with commendable dedication. This will need to be resolved in the next financial year.

Chapel Maintenance: The Chapel is continuing to show increased need of maintenance. The heating and kitchen needs replacing and there are signs of potential issues with both the roof and the walls. We are also keen to ensure that we develop the environmental sustainability of the space by making changes which lower our carbon footprint.

Costs: Utilities and other costs are still high, as per the national picture. Development of our building, including lower power options, such as LED lighting will help to minimise this risk. To minimise the financial risk CAS is continually reviewing its costs.

TRUSTEES

Kay May, Chair (appointed 25/05/2021) David Drew, Trustee (appointed 20/11/2024 Charlotte Marchant, Trustee (resigned 28/04/2025) Jon Adams, Trustee (appointed 27/11/2022) Ronda Gowland - Pryde, Trustee (appointed 27/11/2022) Craig Wadham, Trustee & Vice Chair (appointed 23/01/2024) Ruthie Rolfe-Tarrant, Trustee & Treasurer (appointed 22/11/2022) (resigned 29/11/2025) Liz Johnston, Trustee (appointed 29/10/2024) Tony Spencer, Trustee (appointed 29/10/2024) Yinnon Ezra, Trustee (retired 30/11/2024)

RECRUITMENT AND APPOINTMENT OF TRUSTEES

In accordance with the Governing Document, the trustees are responsible for appointing new trustees to the board. New trustees are appointed where they have the necessary skills to contribute to the charity and the organisation’s management and development.

INDUCTION AND TRAINING OF NEW TRUSTEES

There is a trustee role outline which each new trustee receives. An induction pack is sent to new trustees including conflicts of interest information and forms, as well as a confirmation of suitability to be a trustee.

Introductory calls are arranged for new trustees with members of staff and the chair.

GOVERNING DOCUMENTS

The charity is controlled by its governing document, its memorandum and articles of association, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

In the event of winding up the company, the liability of the members is limited to a sum not exceeding £1 each.

GOVERNANCE

SENIOR MANAGEMENT TEAM

Susanne Hasselmann, Executive Director (appointed May 2021) Hannah Cantellow, Interim Director (from April 2024) Kathryn Hams, Finance Manager (appointed July 2024)

DECISION MAKING

The trustees make all strategic decisions and support the staff to carry out these decisions. The Board appoints the directors, and a Board member attends interviews of all senior management positions. All other staff appointments are made internally.

The Board also approves all major suppliers based on staff recommendations and market tested price comparisons unless they have been approved in the budget. In this case the decision is made by relevant staff members. There is a purchasing finance policy in place to ensure best value for money and transparency in purchasing decisions. Comparative quotes should be sought for any expenditure above £500. All capital expenditure between £150 (net of VAT) and £1,500 must be authorised by the Executive Director. All capital expenditure over £1,500 to be approved by the Board or at least two trustees of the Board with notification to the Board.

All payments are added to the bank system by the Finance Manager. Subsequently they are authorised and checked by the Executive Director and authorised by at least one trustee. In most cases this is the chair, the vice chair or the treasurer.

The day to day running of the organisation is delegated to the executive director. Based on limited staff numbers there is no requirement for a formal structure for pay scales at Chapel Arts Studios. The organisation is growing and salaries are set in line with market forces and local averages and are reviewed annually.

RISK MANAGEMENT

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The corporate risk register is reviewed formally every quarter as part of the Board meetings.

FUNDRAISING AND FINANCIAL SUSTAINABILITY

CAS is still reliant on NPO grant monies which makes up the majority of its funding. CAS is committed to diversifying its income streams to ensure future sustainability. To achieve this, CAS has developed an overarching fundraising plan. CAS very much sees the diversification of its fundraising as part of its future income generation.

Financial management of the business is the responsibility of the finance manager and the executive director. Individual budget lines and staff budgets are agreed. Every expenditure is reviewed and tested and quarterly budget meetings were agreed with staff. Financial controls within the organisation will continue to be reviewed and improved where necessary.

TRUSTEES RESPONSIBILITIES STATEMENT

The Trustees (who are also directors of Chapel Arts Studios for the purposes of company law) are responsible for preparing the Trustees’ Annual 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. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

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:

SIGNED ON BEHALF OF THE BOARD OF TRUSTEES

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………………………………. KAY MAY Chair of the board of Trustees CHAPEL ARTS STUDIOS

DATE: 17th December 2025

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Independent Examiner's Report to the Trustees of Chapel Arts Studios ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.

Responsibilities and Basis of Report

As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

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

Independent Examiner's Statement

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

  1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or

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

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

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed: Dated: 17th December 2025

Xeinadin South East Limited

Suite 2 Healey House Dene Road Andover Hampshire SP10 2AA

Page 23

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net (expenditure)/income
Transfers between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
161,637
7,236
4,428
247
173,548
6,614
176,162
182,776
(9,228)
12,727
3,499
130,556
3,499
134,055		 Restricted
funds
2025
£
13,500
-
-
-
13,500
-
5,284
5,284
8,216
(12,727)
(4,511)
15,158
(4,511)
10,647		 Total
funds
2025
£
175,137
7,236
4,428
247
187,048
6,614
181,446
188,060
(1,012)
-
(1,012)
145,714
(1,012)
144,702		 Total
funds
2024
£
167,043
6,155
3,198
281
176,677
-
188,252
188,252
(11,575)
-
(11,575)
157,289
(11,575)
145,714

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 26 to 43 form part of these financial statements.

Page 24

CHAPEL ARTS STUDIOS (A Company Limited by Guarantee) REGISTERED NUMBER: 11307517

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one year
16
Net current assets
Total assets less current liabilities
Net assets
Total net assets
Charity funds
Restricted funds
18
Unrestricted funds
18
Total funds		 40,869
110,227
151,096
(11,610)		 2025
£
5,216
5,216
139,486
144,702
144,702
144,702
10,647
134,055
144,702		 7,257
142,587
149,844
(10,380)		 2024
£
6,250
6,250
139,464
145,714
145,714
145,714
15,158
130,556
145,714

The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

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

................................................

Kay May

Chair Date: 17th December 2025

The notes on pages 26 to 43 form part of these financial statements.

Page 25

CHAPEL ARTS STUDIOS (A Company Limited by Guarantee)

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

1. General information

The charitable company is an individual private charity limited by guarantee incorporated in England and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charitable company in the event of liquidation.

The address of its registered office is: Ellen House, 33 London Street, Andover, SP10 2NU

2. Accounting policies

2.1 Basis of preparation of financial statements

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

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

2.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following specific policies are applied to particular categories of income:

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Donations and legacies

Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charitable company is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income in debtors.

Donated services and facilities are included at the value to the charitable company where this can be quantified. The value of services provided by volunteers has not been included in these accounts.

Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charitable company earns the right to consideration by its performance.

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

Page 26

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

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

2. Accounting policies (continued)

2.3 Expenditure (continued)

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

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

Grants payable

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Trust. In the case of an unconditional grant offer, this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to the grant is outside the control of the Trust.

Raising funds

Cost of generating funds comprise the costs associated with attracting voluntary income, the management of investments and the costs of trading for fundraising purposes.

Charitable activities

Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

2.4 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.5 Tangible fixed assets and depreciation

Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

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

Page 27

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

2. Accounting policies (continued)

2.5 Tangible fixed assets and depreciation (continued)

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

Depreciation is provided on the following basis:

Long-term leasehold property - 33% straight line - Original artwork not depreciated Furniture, fittings and equipment20% straight line Office equipment - 33% straight line Art equipment - 33% straight line

2.6 Debtors

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

2.7 Cash at bank and in hand

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

2.8 Liabilities and provisions

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

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

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.9 Financial instruments

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

2.10 Pensions

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

Page 28

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

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

2. Accounting policies (continued)

2.11 Redundancy and termination payments

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the Charity is demonstrably committed to either: terminate the employment of an employee or group of employees before normal retirement date; or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The Charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.

2.12 Fund accounting

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

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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

Investment income, gains and losses are allocated to the appropriate fund.

Page 29

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

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

3. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
245
Grants
161,392
161,637
Total 2024
164,243		 Restricted
funds
2025
£
-
13,500
13,500
2,800		 Total
funds
2025
£
245
174,892
175,137
167,043		 Total
funds
2024
£
189
166,854
167,043

4. Income from charitable activities

Unrestricted
funds
2025
£
Workshops
7,236
Event ticket sales
-
7,236
Total 2024
6,155		 Total
funds
2025
£
7,236
-
7,236
6,155		 Total
funds
2024
£
6,054
101
6,155

Page 30

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

5. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2025
£
Associate fees
2,424
Product sales
364
Sale of art
1,640
4,428
Total 2024
3,198
Investment income
Unrestricted
funds
2025
£
Interest received
247
Total 2024
281		 Total
funds
2025
£
2,424
364
1,640
4,428
3,198
Total
funds
2025
£
247
281		 Total
funds
2024
£
2,414
-
784
3,198
Total
funds
2024
£
281

6. Investment income

Page 31

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

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

7. Expenditure on raising funds Costs of raising voluntary income

Unrestricted
funds
2025
£
Fundraising consultancy
6,435
Other trading expenses
Unrestricted
funds
2025
£
Stock purchase for resale
179
8.
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2025
Restricted
funds
2025
£
£
Socially engaged art workshops and
exhibitions
176,162
5,284
Total 2024
168,814
19,438		 Total
funds
2025
£
6,435
Total
funds
2025
£
179
Total
2025
£
181,446
188,252		 Total
funds
2024
£
-
Total
funds
2024
£
-
Total
2024
£
188,252

Page 32

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

9. Analysis of expenditure by activities

Socially engaged art workshops and
exhibitions
Total 2024		 Activities
undertaken
directly
2025
£
112,328
168,650		 Support
costs
2025
£
69,118
19,602		 Total
funds
2025
£
181,446
188,252		 Total
funds
2024
£
188,252

Page 33

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

9. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Project costs
CAS community 65
Curatorial support
Contract Artist fees
Bad debt write off
Rent and rates
Light, heat and power
Entertainment
Repairs and maintenance
Computer software and maintenance costs
Cleaning
Marketing & graphic design
Bank charges
Total 2024		 Socially
engaged art
workshops
and
exhibitions
2025
£
67,678
-
24,495
8,907
1,355
5,805
(1,500)
-
-
-
-
2,850
-
2,738
-
112,328
168,650		 Total
funds
2025
£
67,678
-
24,495
8,907
1,355
5,805
(1,500)
-
-
-
-
2,850
-
2,738
-
112,328
168,650		 Total
funds
2024
£
98,679
3,327
36,981
11,915
-
-
908
114
3,696
393
360
7,465
157
4,445
210
168,650

Page 34

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Subscriptions
Finance manager fees
Recruitment expenses
Consultancy
Training costs
Water rates
Light, heat and power
Insurance
Repairs and maintenance
Broadband, internet and fax
Computer software and maintenance costs
Printing, postage and stationary
Sundry expenses
Bad debts written off
Travel and subsistence
Entertainment
Bank charges
Governance costs
Total 2024		 Socially
engaged art
workshops
and
exhibitions
2025
£
29,006
1,414
50
11,315
-
2,622
78
198
1,953
388
2,414
956
6,649
1,348
621
5,442
334
60
429
3,841
69,118
19,602		 Total
funds
2025
£
29,006
1,414
50
11,315
-
2,622
78
198
1,953
388
2,414
956
6,649
1,348
621
5,442
334
60
429
3,841
69,118
19,602		 Total
funds
2024
£
-
-
280
9,448
378
-
784
-
-
1,529
1,045
1,303
-
1,485
176
-
78
-
-
3,096
19,602

Work has been undertaken to ensure the split between direct and support costs accurately reflects the substance of the charity’s activities, in line with the Charities SORP (FRS 102) 2019. Costs have been reapportioned to provide a fairer reflection of how resources are used. The comparatives have not been adjusted.

Page 35

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

10. Independent examiner's remuneration

2025 2024
£ £
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts 1,600 1,550
Fees payable to the Charity's independent examiner in respect of:
All other services not included above 1,200 1,210

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
93,337
373
2,974
96,684		 2024
£
95,321
924
2,434
98,679

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

2025 2024
No. No.
9 7

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

The key management personnel of the charitable company comprise the trustees and the management team. The total employee benefits of the key management personnel of the charitable company were £44,044 (2024: £28,913).

Page 36

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

12. Trustees' remuneration and expenses

During the year, one or more Trustees has been paid remuneration or has received other benefits from an employment with the Charity. One or more Trustees were paid for Curatorial and Consultancy support (Prior year: Technician work and Artist residencies). No Trustees were remunerated solely for their roles as Trustees. The value of Trustees' remuneration and other benefits was as follows:

2025 2024
£ £
Tony Spencer Fees paid - 2,797
Charlotte Marchant Fees paid 1,355 -

During the year ended 31st March 2025, general expenses totalling £ nil were reimbursed or paid directly to Trustees (2024 - £nil to Trustee) .

13. Taxation

The Charitable Company is a registered charitable company and is therefore exempt from taxation.

14. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Long-term
leasehold
property
£
3,180
-
3,180
406
925
1,331
1,849
2,774		 Fixtures and
fittings
£
2,983
-
2,983
2,301
136
2,437
546
682		 Office
equipment
£
5,340
-
5,340
3,945
279
4,224
1,116
1,395		 Other fixed
assets
£
6,913
380
7,293
5,514
74
5,588
1,705
1,399		 Total
£
18,416
380
18,796
12,166
1,414
13,580
5,216
6,250

Page 37

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

15. Debtors

Due within one year
Trade debtors
Prepayments and accrued income
Grants receivable		 2025
£
183
3,770
36,916
40,869		 2024
£
5,352
1,905
-
7,257

16. Creditors: Amounts falling due within one year

Bank overdrafts
Trade creditors
Wages payable
Pension fund loan payable
Other taxation and social security
Accruals and deferred income		 2025
£
40
4,347
1,112
787
81
5,243
11,610		 2024
£
-
6,257
-
519
804
2,800
10,380

17. Pension scheme

The charity operates a defined contribution pension scheme. During the year the charity contributed £2,382 (2024 - £2,434).

Page 38

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

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

18. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Community space fund
Sculpture fund
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
Sculpture fund
Harrison Memorial Project
The Social Prescribing
Garfield Western grant
Total of funds		 Balance at 1
April 2024
£
10,821
-
10,821
119,735
130,556
12,727
2,431
-
-
15,158
145,714		 Income
£
-
-
-
173,548
173,548
-
-
3,500
10,000
13,500
187,048		 Expenditure
£
(10,821)
-
(10,821)
(171,955)
(182,776)
-
-
(105)
(5,179)
(5,284)
(188,060)		 Transfers
in/out
£
-
12,727
12,727
-
12,727
(12,727)
-
-
-
(12,727)
-		 Balance at
31 March
2025
£
-
12,727
12,727
121,328
134,055
-
2,431
3,395
4,821
10,647
144,702

Page 39

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

18. Statement of funds (continued)

Sculpture fund

Upon further examination of the grant documentation, it was concluded that the Sculpture Fund represents a designated reserve, not a restricted fund and therefore was transferred in the year.

Harrison Memorial Project

Funds set aside for events in memorial in future years.

The Social Prescribing (D'Oyly Carte)

A 4-week pilot to create a sustainable socially prescribed workshop series to support people with mental health challenges and associated addiction and anxiety disorders.

Garfield Weston

Supporting our new town centre facility enabling a range of over 60 events and outreach.

Art programmes in the communities of Test Valley and North Hampshire supporting the development of young people and aspiring artists.

CAS Artist in Residence programme, bringing professional artists from across the UK to produce a targeted engagement programme reaching a wide demographic. 6-8 art exhibitions per year.

Supporting educational programmes in schools.

Page 40

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Community space fund
General funds
General Funds - all funds
Total Unrestricted funds
Restricted funds
Sculpture fund
Harrison Memorial Project
Total of funds		 Balance at
1 April 2023
£
43,498
81,995
125,493
31,796
-
31,796
157,289		 Income
£
-
173,877
173,877
-
2,800
2,800
176,677		 Expenditure
£
(32,677)
(136,137)
(168,814)
(19,069)
(369)
(19,438)
(188,252)		 Balance at
31 March
2024
£
10,821
119,735
130,556
12,727
2,431
15,158
145,714

Page 41

CHAPEL ARTS STUDIOS

(A Company Limited by Guarantee)

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

19. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
April 2024
£
10,821
119,735
15,158
145,714		 Income
£
-
173,548
13,500
187,048
Balance at
1 April 2023
£
43,498
81,995
31,796
157,289		 Expenditure
£
(10,821)
(171,955)
(5,284)
(188,060)
Income
£
-
173,877
2,800
176,677		 Transfers
in/out
£
12,727
-
(12,727)
-
Expenditure
£
(32,677)
(136,137)
(19,438)
(188,252)		 Balance at
31 March
2025
£
12,727
121,328
10,647
144,702
Balance at
31 March
2024
£
10,821
119,735
15,158
Summary of funds - prior year
Designated funds
General funds
Restricted funds
145,714

20. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
5,216
Current assets
140,449
Creditors due within one year
(11,610)
Total
134,055		 Restricted
funds
2025
£
-
10,647
-
10,647		 Total
funds
2025
£
5,216
151,096
(11,610)
144,702

Page 42

(A Company Limited by Guarantee)

CHAPEL ARTS STUDIOS

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

20. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
-
-
-
-		 Restricted
funds
2024
£
-
15,158
-
15,158		 Endowment
funds
2024
£
6,250
134,686
(10,380)
130,556		 Total
funds
2024
£
6,250
149,844
(10,380)
145,714

21. Controlling party

The Company was controlled throughout the period and the previous by the Trustees, by virtue of the powers afforded to them by the Memorandum and Articles of Association.

Page 43