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2024-08-31-accounts

Companies House Registration Number: 9193813 Charity Registration Number: 1202547

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 August 2024

for

Artemis Studios Performing Arts Schools Limited

(A Company limited by guarantee)

Green Accountancy Limited Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX

Artemis Studios Performing Arts Schools Limited

Contents

Charity information 1
Report of the trustees 2-15
Independent examiner's report 16
Statement of Financial Activities 17
Balance Sheet 18-19
Statement of Cash Flows 20
Notes to the Financial Statements 21-29

Artemis Studios Performing Arts Schools Limited

Reference and administrative details

Registered Company limited by guarantee number in England and Wales

9193813

Registered Charity number

1202547

Registered office

71-75 Shelton Street Covent Garden London England WC2H 9JQ

Trustees

Mary-Jane Newton Ashleigh James Charles Wells Jonathan Undrell Rosalind Robins Mark Mumford Gemma Louise Roch Heather Jane Wilson

Independent Examiner

Barry Coles FCCA Green Accountancy Limited Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX

Page 1

Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Trustees and Directors for the Period

Mary-Jane Newton (Trustee/Director) Ashleigh James Charles Wells (Trustee/Director) Rosalind Robins (Trustee/Director) Jonathan Undrell (Trustee/Director) Heather Jane Wilson (Trustee/Director – Resigned 5[th] April 2024) Mark Robert Mumford (Trustee/Director Resigned 29th August 2024) Gemma Roch (Trustee/Director Resigned 29th August 2024)

Senior Leadership Team

Niki Robinson, CEO Stephen Harris, Executive Director Rosie Hill, Principal of the College

Bank

HSBC – 35 High Street, Berkshire, SL6 1JQ, Maidenhead

Legal Advisor During the Period

Tessa Hennessy Solicitor 27 Hugh Allen Crescent, Oxford OX3 0HL

Financial Advisor During the Period

Greens Accountancy

Trustee Training Provider During the Period

Involve Community Services The Court House, Town Square, Broadway, Bracknell, Berkshire RG12 1AE

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

REFERENCE AND ADMINISTRATIVE INFORMATION

Artemis Studios Performing Arts Schools (‘Artemis’) is a company limited by guarantee and a registered charity and is governed by its Memorandum and Articles of Association.

Originally founded in 2007 as Artemis Studios Limited, Artemis was incorporated in August 2014 as a not-for-profit, is OFSTED registered and became a registered charity in March 2023. New Articles of Association were adopted by special resolution.

Artemis is a dynamic, award winning leader in specialist performance arts training for children, young people, and adults. In 2018, Artemis opened a full-time vocational sixth form college, free to attend and fully funded for learners aged 16-18.

The Board, whose members are directors for the purposes of the Companies Act and trustees for the purposes of the Charities Act, presents the report and financial statements of Artemis for the year ended 31[st] August 2023.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

Artemis is governed by its Memorandum and Articles of Association.

Governing Body

Artemis Governing Body is the Board of Trustees and Directors (‘The Board’). The Governing Body is self-appointing. One third of its Members are required to resign at each annual general meeting. The first appointed or longest serving are the first to retire. Members retiring by rotation can be reelected.

The Board meets at least four times a year. The elected Chair-person leads the Board meetings and coordinates with Trustees and the CEO to prepare the agenda. The CEO and other senior team members may be invited for part or all of the meeting, as the meeting agenda requires. If necessary, the Board will convene for additional meetings if there is an urgent or special requirement to do so. The Board meetings are held in person and/or virtually by video call.

The Board communicates regularly including through a dedicated Trustee messaging group, and in addition, each Trustee has access to a dedicated and secure drive to review Board documents, including all meeting minutes and management reports. If required, the Board may seek specialist professional advice to help in their legal obligations and decision making.

The Finance and HR Sub-committee is a committee of the Board and subject to its Terms of Reference. It ensures that the adequate financial controls, authorisations and approvals are in place to safeguard the assets of the Artemis charity. It reviews and scrutinises the annual budget, revenue, expenditure, employment policies, staff recruitment and related operations on a regular basis. The

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Sub-committee also helps to finalise the annual report and accounts. The Sub-committee consists of at least two permanent Trustee members including a Chair-person, the CEO, other Trustees and senior team leadership as invited by the Sub-committee Chair. The Sub-committee Chair may also invite external advisers, presenters and specialists if required. The Sub-committee meets in person or virtually by video call at least six times per year and is accountable to The Board of Trustees. The minutes of each Sub-committee meeting are accessible by all Trustees.

The Board is currently reviewing proposals for establishing a Fund-raising Sub-committee.

Recruitment and Training of Trustees

The Board recruits Trustees from a wide variety of professions and backgrounds to help develop its strategic aims and direction. The Board performs a diversity and skills audit of all Trustees on the Board and uses the results of this as a basis for identifying future needs and requirements for Trustee recruitment.

An independent specialist recruitment agency is used to help advise and support the candidate search which includes various volunteer and social media sites. The Board seeks to achieve a balance of Trustees between those that know Artemis and may have local community knowledge, as well as those who may be further away and offer additional specialist skills, knowledge and perspective.

New Trustees are elected by Members of the Board of Trustees in accordance with its Memorandum and Articles of Association, subject to suitable references and an enhanced DBS check.

New Trustees are inducted with a series of briefing sessions with Board members and with members of the Artemis senior leadership team and a copy of the current Artemis Business Plan. In addition, and as part of the induction process, Artemis has adopted the NSPCC Safer Recruitment process. All Trustees are required to complete a Safeguarding Certificate (Level 1) and participate in a Trustee Training Session provided by an independent trainer. The Board is currently using ‘Involve’ to deliver this training session and to provide ongoing support and updates as needed.

Organisation And Management

The Members of the Governing Body, as the Board of Trustees, are legally responsible for the overall management of Artemis and ensure that appropriate strategies are in place to achieve its objectives.

The day-to-day management of Artemis is delegated to the CEO. The CEO reports to The Board and heads the Senior Leadership Team. The Senior Leadership Team consists of the CEO, the Executive Director and the Principal of the College. They are closely supported by department heads. The college arm of Artemis is also supported by Big Creative Education as part of a service agreement arrangement.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Employment and Remuneration Policy

All staff salaries are reviewed annually. Salaries and benefits are benchmarked using comparisons with similar industry roles and functions in the market. The Board considers market median level rates of charity and arts organisations with a similar turnover and considers budget impact, reserves and risks in its review.

Staff Recruitment

Artemis is an equal opportunities employer. Recruitment of Artemis staff follows guidelines issued by the NSPCC. In addition, the short listing and interview process follows guidelines issued by the NCVO.

Volunteers

Artemis is fortunate to have the support of more than 70 volunteers each year. They are mostly parents/guardians of children who we teach, but also alumni and members of the community. Most volunteers work with us on shows and events as chaperones or crew, giving between 10 and 100 hours at a time. Some volunteer weekly and assist in classes and workshops and help us keep costs lower and classes inclusive. Weekly volunteers contribute between 2 and 15 hours each. In addition, for the period for this report, Artemis had a volunteer administrator who contributed 20-30 hours a week.

All volunteers are subject to the same process of background and induction checks as any paid staff member. In addition, those who work with us as chaperones are required to be registered and licensed through their local LEA.

We offer CPD to volunteers which includes food safety, first aid, coaching, SEND awareness and other upskilling courses. This benefits those volunteering, and the children and staff they work with. This CPD forms part of our values and commitment to life-long learning and helping others validate and recognise achievement.

Partnerships

Our key partners are South Hill Park Arts Centre, where our head office and college are based. Big Creative Education provides the funding via an SLA for our sixth form provision.

We have community outreach where we provide free and paid for services to partners including The Recovery College, Kennel Lane School, St Margaret Clitherow School.

OBJECTS, AIMS, OBJECTIVES AND STRATEGY

Charitable Object

As set out in the Artemis Memorandum and Articles of Association, our Object is to advance education for the public benefit in the performing and creative arts.

Artemis strives to make the performing arts more accessible and more inclusive for everyone in our community who wants to learn, participate, and enjoy a whole range of high-quality performing arts

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

experiences. Since our corporation, we have worked with thousands of young people and their families, and many are now making a successful livelihood with full-time careers in the creative arts industry.

The Board of Trustees has given close consideration to its legal obligation of public benefit requirement and has given regard to the Charity Commission’s guidance – Public Benefit: the public benefit requirement (PB1).

Mission Statement

To help transform the lives of people and communities with the aim of providing accessible and high-quality performing arts education and training for everyone.

Aims

Our aims for delivering public benefit are

Primary Objectives

Our primary objectives to achieve our aims:

Longer Term Objectives to Build on Our Achievements

Our longer term objectives include:

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Strategy to Achieve Our Objectives

Our key strategic aims are:

Artemis Framework

We deliver our strategic aims through our commitment to important underpinned Artemis themes that provide the framework for us to deliver and achieve our objectives. These are:

CHILDREN, YOUNG PEOPLE AND ADULTS

Wellbeing & Protection

Safeguarding is our highest priority. At Artemis we are committed to promote and safeguard the welfare of each person we work with. In particular, our aim is to provide a safe environment in which staff and the individual needs of learners are met, protecting them from exposure to harm and enabling them to keep themselves safe. Artemis’ Training and Safeguarding Policy and procedures reflect best practice in both national and local area guidelines.

Accessibility

Making our learning and performing arts experiences available to everyone by eliminating and/or reducing barriers including cost, access to transport and increasing awareness of what we offer.

Inclusion

Providing and developing education and performing arts programmes to everyone regardless of their ability or disability.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Development & Potential

Ensuring that our educational programmes are continually reviewed and scrutinised so that we offer high-quality learning and personal development experiences for individuals whatever their chosen path.

Communication & Assessment

Maintaining dialogue and assessment with everyone involved in our performing arts programmes including parents, guardians, and our students too.

Achievement

Aiming high and rewarding success whilst recognising individual and group achievement at both personal goal levels and/or by utilising nationally recognised graded examinations.

Creativity

Inspiring and encouraging creative development, creative thinking, and creative performance. Giving a voice to emerging practitioners and encouraging them in their craft by offering them platforms to try their ideas and helping them reflect on success and challenges.

Career Development

Providing our students with the skills, qualifications, work experience and specialised career development, to progress further in their training and/or to find work. Making good use of our network of tutors who are also working creative arts practitioners to create opportunities for work experience and employment.

COMMUNITY CONTRIBUTION

Diversity

Continually developing the performing arts experience we offer to ensure we provide the diversity needed to meet the needs of all interests in our community. Working with partners to actively seek people who are under-represented in the arts.

Inclusion

Committing to continually evolve our performing arts programmes to be inclusive for everyone in our community. Planning and making reasonable adjustments to remove barriers to taking part.

Coming Together

Using our programmes to bring together the community through both creative participation and in audience entertainment, introducing new arts experiences to sectors of our community who may not have the finances to access performing arts.

Strategic Partnerships & Community Collaboration

Establishing partnerships with other organisations and businesses in our community to help further our cause and to continually support our ability to reach more people.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Centre of Excellence

Establishing Artemis Studios Performing Arts Schools as a centre of excellence in our community and the leading provider of accessible, high quality performing arts education in the South East.

Performing Arts Events

Maximising our efforts to create event performance opportunities within our community for everyone participating at Artemis.

Public Benefit

Artemis remains committed to the aim of providing public benefit and gives regard to the Charity Commission’s guidance – Public Benefit: the public benefit requirement (PB1)

In 2020 100% of paid-for classes had fees reduced by 50% fees to help make them even more inclusive. This means that in many cases we now offer training for less than £3 an hour. All of our sixth form students aged 16-18 (60 funded in 23/24) attend our full-time provision for free, and also have free places in all of our after school and weekend classes giving them up to 40 hours a week free tuition.

Our work with The Recovery College gives adults 18+ free access to high quality applied theatre workshops weekly for half a term at a time to assist in their journey back to health and stability.

Our work in local schools includes weeks of free workshops in both performing arts and visual. Kennel Lane is a SEND school who come to us for 5 weeks of sessions each term at South Hill Park which is totally free to the children and run by our older college students as part of teacher training qualifications. In St Margaret Clitherow, in a recent project, an Artemis textile artist and helpers worked with over 200 children across three weeks to create art and bunting to celebrate the jubilee.

In late 2022 we secured a contract with the local council to provide free holiday workshops for children living in households with income of less than £8000 a year. This has continued into 24/25. These workshops are also subsidised by paying participants which allows us to offer a full week at a time, with unlimited food and snacks to the children who qualify for HAF vouchers.

Safeguarding

We have robust policies which are routinely checked and amended at least annually and in line with governmental child protection changes. In addition to our Child Protection Policy, we have antibullying and also a parent/guardian behavioural agreement. By being clear with everyone what is expected within our community, we are able to prevent many issues before they happen.

We work closely with the Local Authority and also Big Creative Education, and qualified SEND coordinators to ensure we keep everyone as safe as possible.

All staff and adult volunteers undertake Safeguarding and Prevent courses.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE

Budget

Budgets are prepared annually by the CEO and Executive Director, to cover our fiscal and academic year (September - August). Budgets are approved by the board.

The CEO reviews budget performance monthly, and management accounts are produced quarterly. These quarterly reports, including funding applied for and granted, are then presented to the Finance Sub-committee and at each Board meeting.

School and Community

2023/24 saw a rapid and welcome period of growth in line with our business plan. The plans laid very early on in the pandemic, which included reducing all paid-for provision fees by half, picked up pace and with the introduction in late 2022 of an administration volunteer to help the Senior Leadership Team in the head office, our numbers have grown week on week. In July 2024 we launched a new cheerleading programme which blended our existing work with another local team who became Artemis, increasing participant numbers there from 70 to 180, and doubling staff.

We now work with over 500 families each week in term time, and more than 160 a week most school holidays. In late 2022 we introduced additional holiday clubs, which included food and cost parents just £2.85 an hour and these sold out with 70 places each week for each kind of club (Musical Theatre, Cheerleading, Dance) being taken up. This take up has continued and provision expanded to 80 children per week on theatre and 60 per day on cheerleading.

In addition, we began working with the Local Authority to deliver free HAF holiday scheme places to children living in households with an annual income of £7,000 or less. This gave the children equal footing with those able to pay for provision, but also gave them some continuation of food security while their mainstream school was closed. It also offers the children and their parents access to caring trained staff who can assist with issues and refer to support.

Around 20% of our participants pay no fees for term time classes, many are found through participation in the HAF and schools workshops, or are referred to us by play or social workers.

We saw a large increase in the number of students with mental health or SEND in 2023, and additional staff have been sourced to support these children in class where possible. All staff have received additional SEND awareness training and continue to update CPD in this area under the guidance of our Pastoral Manager.

We produced multiple sell-out shows in 2023 and 2024 including BARE , Annie , Our House and many smaller shows where we were asked to provide community entertainments. We reached community audiences of over 4000 people.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

In summer 2024, our college was selected to represent England in the Dance World Cup in Prague. We won a silver medal as Team England.

Our free student led online classes continued to support educators nationally and internationally. Three of our videos have now had more than 80,000 views each on YouTube and we plan to continue to develop ‘Artemis Online’ in 25/26 starting with free Halloween online workshops.

College

Artemis College, during the academic year 2023-24, experienced growth and success, cementing its reputation as a premier institution for performing arts education. This growth was facilitated by the introduction of our Level 4 foundation programme, second year options and our Dance strand, offering students diverse pathways to pursue their passion for the performing arts.

Throughout the year, Artemis College showcased its excellence through a series of performances. The line-up commenced with the highly acclaimed production BARE . The overwhelming demand for tickets led to two additional performances being added to accommodate the enthusiastic audience.

The Senior Showcase provided a platform for all our college students to shine, featuring performances from our Dance Course, Musical Theatre course, and gap year programmes. Our Level 4 students displayed their versatility and creativity with a sell-out musical night at South Hill Park.

The Artemis Singers continued to enrich the community with their performances, including appearances at the Pride of Bracknell awards and Bracknell Pride, while our Dance Course showcased their skills at prestigious events such as the Lift Off Dance Festival at South Hill Park and the Dance World Cup in the Musical Theatre division.

Furthermore, many of our students had the opportunity to participate in the South Hill Park pantomime, Easter shows and celebratory events, including lead and understudy roles, enhancing their practical experience and stagecraft.

In a ground-breaking collaboration, Artemis Studios and South Hill Park continued a joint Summer School in summer 2024, culminating in a sensational co-production of Les Miserables. This collaboration resulted in sold out shows with 100 young performers was celebrated as the most successful summer school by the Wilde in many years, underscoring our commitment to excellence in arts education. As a result, 40 young people also gained a recognised qualification for free.

Measurements of Key Goals Versus Achievements

Strengthen our base and our cause.

We increased all paid-for provision to a point of waiting lists, and added additional weeks of holiday provision. The college also saw growth. Our volunteer numbers doubled.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Increase our income and funding

We increased turnover substantially and finally reversed a challenge that dated back to 2021.

Improve our communication and outreach

We worked with 100’s of children and young people in the community above and beyond paid for classes, and now have schools approaching us to help them with delivery. Our partnerships also created additional local employment including our co-production of Les Mis with South Hill Park.

Learning Outcomes

More administration time and resources will help us to maximise funding and grant applications.

More funding to help with SEND students on all programmes is a key objective over the next two years.

We need to expand the number of free places on all classes and courses, and add more holiday provision for HAF children in half terms (which are not funded by the government).

We need to offer activities with food for 7 hours a day in all school holiday periods (not only the main holidays covered by HAF) to all children and parents who need it. This means parents can continue to work without having to lose holiday days or salary for childcare, or for those who need respite or struggle to care for or feed their children full time at home, or for others who can’t afford childminders.

Continuing to add new classes wherever space is possible to help absorb some waiting lists and also offer differentiation for students with high needs. This in turn will create even more demand and will be used when choosing and costing a building to house all our non-college offerings. The additional classes will be investments for at least their first 36 weeks of trading while we staff and market them and accept children mid-term (which means pre-rata fees) until all places are full. This cost is supported by the other classes creating a surplus.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

FUTURE STRATEGIC PLANNING

Our charitable object and our mission statement form the basis of our future strategic planning. Building on the progress of 2023-2024, the following strategic initiatives will contribute to our ongoing growth and improvement over the next 5 years. We will continue to regularly review these initiatives at Board level to ensure we continue to meet our goals.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

FINANCIAL & HR REVIEW

Reserves Level and Policy

During the year the charity was in receipt of income totalling £732,418 (2023 - £516,425), of which £3,086 (2023 - £2,835) were donations received. Expenditure incurred totalled £601,657 (2023 - £433,524) relating to charitable activities. Reserves remaining at the of the financial period were £293,245 (2023 - £162,484).

We aim to keep the equivalent of 4 months of operational costs in reserve. This is budgeted at £160,000 for the current year. We did not need to draw on our reserves in the reporting period, remained in budget and in line with trustee expectations.

Going Concern Statement

Artemis is in a healthy growth position with reserves and savings for capital investment when we find a new space to increase provision.

Risks

There are no significant risks to the business, beyond national issues of illness, acts of god or financial crisis. We have robust reserves which would see us through a full academic term without any income at all. Our business plan and careful annual budget allows us to be prudent with outgoings, and risks carefully managed so as not to impact the greater business. The CEO reviews the budget on a monthly basis so we are able to pivot to meet a need, or change an area of underperformance.

Property Leases

Artemis leases an office at South Hill Park Arts Centre in Bracknell, and rooms to run our college during the day Tuesday-Friday. Rent includes utilities. Our classes are delivered at locations hired at an hourly or day rate.

Pensions

Artemis offers all eligible staff a pension with NEST. They can choose to participate or opt out. Artemis adds 3% to their contributions.

Policy and procedure

Artemis has a contract with Peninsula who provide 24/7 advice and bespoke documentation to ensure we meet and exceed employment law in real time. They also offer a 24/7 legal line including barristers, who are able to offer help and reassure staff in the case of any legal query including our own protection from anti social behaviours.

Charity Excellence

We became a member of the Charity Excellence Framework in 2024, which included an extensive 200 point audit of policy and procedure. This has given us insight into areas of both strength, and areas where improvement would ensure further excellence.

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Artemis Studios Performing Arts Schools Limited

Trustees Report and Financial Review for the year ended 31[st] August 2024

Trustee recruitment

We said a sad goodbye to two trustees at the end of the period. Mark Mumford was our Chair for two years, and Gemma Roch worked very closely with him to establish all the foundation and groundwork to give our charity a platform to thrive on. A further trustee, Heather, joined the Artemis staff team as a part time manager in June. We would like to acknowledge the massive contribution they made in the period. We are happy to announce two new trustees who have joined us in August, with a further three new trustees who have been recruited and are going through the onboarding process, due to be added on September 2024. Further recruitment will continue to fill skills gaps.

Declaration

The trustees declare that they have approved the trustees’ report above.

Signed:

Mary-Jane Newton (Trustee/Director)

Ashleigh James Charles Wells (Trustee/Director)

27/05/2025 Date: ……………………………… 

27/05/2025

………………………………

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Independent Examiner's Report to the Trustees of Artemis Studios Performing Arts Schools Limited ('the company')

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2024.

Responsibilities and basis of report

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

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

Independent examiner's statement

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

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:

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.

Barry Coles Green Accountancy Limited Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX 

28/05/2025

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Artemis Studios Performing Arts Schools Limited

Statement of Financial Activities for the year ended 31 August 2024

Unrestricted
funds
Note
£
Incoming resources
Income and endowments from:
Donations and legacies
3.0
3,086
Charitable activities - income
3.1
725,281
Investment income
3.2
4,051
Total Income
732,418
Resources expended
Expenditure on:
Charitable activities - expenditure
4.1
601,657
Total expenditure
601,657
Net income/(expenditure)
130,761
Net movement in funds
130,761
Reconciliation of funds:
Total funds brought forward
162,484
Total funds carried forward
293,245		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
3,086
725,281
4,051
732,418
601,657
601,657
130,761
130,761
162,484
293,245		 Total
2023
£
2,835
512,424
1,166
516,425
433,524
433,524
82,901
82,901
79,583
162,484

Continuing operations

All income and expenditure has arisen from continuing activities.

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Artemis Studios Performing Arts Schools Limited

Charity Number 1202547

Balance Sheet as at 31 August 2024

CIO Number 9193813

Unrestricted
funds
Note
£
Fixed assets
Tangible assets
5
5,880
Total fixed assets
5,880
Current assets
Debtors
6
113,907
Cash at bank and in hand
7
275,288
Total current assets
389,195
Creditors: amounts falling due within one year
8
97,972
Net current assets/(liabilities)
291,223
Total assets less current liabilities
297,103
Creditors: amounts falling due after one year
9
3,858
Total net assets
293,245
Funds of the Charity
Unrestricted funds
10
293,245
Total funds
293,245		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
5,880
5,880
113,907
275,288
389,195
97,972
291,223
297,103
3,858
293,245
293,245
293,245		 Total
2023
£
2,285
2,285
108,808
155,109
263,917
95,754
168,163
170,448
7,964
162,484
162,484
162,484

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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Artemis Studios Performing Arts Schools Limited

Charity Number 1202547

CIO Number 9193813

Balance Sheet as at 31 August 2024

The trustees acknowledge their responsibilities for :

a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

27/05/2025

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

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

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

Mary-Jane Newton Trustee (Director)

Ashleigh James Charles Wells Trustee (Director)

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Artemis Studios Performing Arts Schools Limited

Statement of Cash Flows for the year ended 31 August 2024

Note
below
Cash flows from operating activities
Net cash from operating activities
A
Total increase /(reduction) in cash in period
Reconciliation of net cash flow to movement in net debt
Total increase /(reduction) in cash in period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
B
Notes to the Cash Flow Statement:		 2024
£
120,179
120,179
120,179
155,109
275,288		 2023
£
65,485
65,485
65,485
89,624
155,109

Note A: Reconciliation of net (outgoing)\incoming resources to net cash inflow from operating activities

Net movement in funds
(Increase) / decrease in Debtors
(Decrease) / increase in Creditors
Depreciation
Purchase of fixed assets
Net cash from operating activities
Note B:Analysis of changes in net funds
Cash at bank		 2024
£
130,761
(5,099)
2,218
-
(3,595)
124,285
2024
£
275,288		 2023
£
82,901
(36,301)
18,182
1,470
(767)
65,485
2023
£
155,109

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Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

1 Basis of preparing the financial statements

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts 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 charity is a Company limited by guarantee and constitutes a public benefit entity as defined by FRS 102.

2 Accounting Policies

Income

Income is included in the Statement of Financial Activities (SoFA) when:

Income from membership subscriptions

Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

Income from interest, royalties and dividends

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

Page 21

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

Grants and donations

Grants and donations are included in the SoFA when the general income recognition criteria are met.

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met.

Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Page 22

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

Tangible fixed assets

These are capitalised if they can be used for more than one year, and cost at least £200. They are valued at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment - 25% Straight Line Basis

Taxation

The charity registered as a charity on 29 March 2023 and since that date has been exempt from corporation tax on its charitable trading activities.

Fund accounting

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

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Cash at bank and in hand

Cash at bank and cash 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.

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

The charity has creditors which are measured at settlement amounts less any trade discounts

Pension costs and other post-retirement benefits

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

Page 23

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

3.0 Income from donations and legacies

Unrestricted
funds
£
Donations receivable
3,086
Total donations and legacies
3,086
3.1
Income from charitable activities
Unrestricted
funds
£
Education in the performing and creative arts
675,159
Theatre tax credit receivable
28,001
Grant income
1,000
Sale of goods related to main activity
21,121
Total income from charitable activities
725,281
3.2
Investment income
Unrestricted
funds
£
Interest received
4,051
Total investment income
4,051		 Restricted
funds
£
-
-
Restricted
funds
£
-
-
-
-
-
Restricted
funds
£
-
-		 Total
2024
£
3,086
3,086
Total
2024
£
675,159
28,001
1,000
21,121
725,281
Total
2024
£
4,051
4,051		 Total
2023
£
2,835
2,835
Total
2023
£
475,535
23,894
3,399
9,596
512,424
Total
2023
£
1,166
1,166

Page 24

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

4.1 Charitable activities - expenditure

to advance education for the public benefit in the performing and creative arts

Unrestricted
funds
£
Direct cost of charitable activity:
Staff costs
258,863
Rent and hall hire
67,773
Self employed personnel
71,637
Production costs
50,114
Entry fees
23,049
Cost of goods sold
23,901
Education expenses
37,137
Box office charges
6,206
Show tickets
4,258
Support costs:
Professional fees
3,945
Computer consumables
5,400
Travel and subsistence
9,777
Advertising & Marketing
15,735
Print, postage and stationery
3,776
Staff training
1,454
Staff entertainment
2,016
Insurance
1,971
Depreciation
1,935
Telephone & Internet
1,315
Cleaning
326
Bad debts written off
2,673
Refreshments
-
Sundry expenses
228
Repairs and maintenance
60
Donations
820
Bank charges
2,282
Interest paid
361
Accountancy fees
3,889
Independent examination
756
Total expenditure on charitable activities
601,657		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2024
£
258,863
67,773
71,637
50,114
23,049
23,901
37,137
6,206
4,258
3,945
5,400
9,777
15,735
3,776
1,454
2,016
1,971
1,935
1,315
326
2,673
-
228
60
820
2,282
361
3,889
756
601,657		 Total
2023
£
218,291
59,674
28,498
43,746
11,278
10,072
6,944
4,365
2,421
2,919
3,404
3,222
19,213
1,918
1,841
1,759
1,608
1,470
1,192
428
299
7
229
-
-
1,401
351
6,218
756
433,524

Support costs

All support costs are allocated to the single charitable activity of the charity and are included above.

Page 25

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |4.2|Governance costs included above|Unrestricted|Restricted|Total|Total| |funds|funds|2024|2023| |£|£|£|£| |-| |Accountancy fees|3,889|3,889|6,218| |Independent examination|756|-|756|756| |-| |Total governance costs|4,645|4,645|6,974|

----- End of picture text -----

4.3 Trustee remuneration

None of the trustees were remunerated during the year or the previous year. No trustee expenses were paid during the year

4.4 Staff costs

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds|2024|2023| |£|£|£|£| |-| |Salaries - Gross pay|245,310|245,310|198,696| |-| |Salaries - Employers NI|10,772|10,772|14,792| |Salaries - Pensions|2,781|-|2,781|4,803| |Total staff costs|258,863|-|258,863|218,291|

----- End of picture text -----

There were no ex-gratia payments made and no redundancy payments made. There are no staff working for the charity who were paid more than £60,000.

4.5 Staff numbers

----- Start of picture text -----
|||| |---|---|---| |Average headcount in the year:|2024|2023| |Charitable activities|12|12|

----- End of picture text -----

Page 26

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

5 Tangible fixed assets

Cost
At 1 September 2023
Additions
At 31 August 2024
Depreciation
At 1 September 2023
Charge for year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023
6
Debtors
Unrestricted
funds
£
Trade debtors
78,628
Prepayments
5,682
Net pay overpayment
1,452
Corporation tax recoverable assets
28,001
Other debtors
144
Total debtors
113,907
7
Cash at bank and in hand
Unrestricted
funds
£
Bank current account
19,076
Bank deposit account
255,293
Other bank balances
640
Cash in hand
279
Total cash at bank and in hand
275,288		 Restricted
funds
£
-
-
-
-
-
-
Restricted
funds
£
-
-
-
-
-		 Computer
equipment
£
7,329
5,530
12,859
5,044
1,935
6,979
5,880
2,285
Total
2024
£
78,628
5,682
1,452
28,001
144
113,907
Total
2024
£
19,076
255,293
640
279
275,288		 Totals
£
7,329
5,530
12,859
5,044
1,935
6,979
5,880
2,285
Total
2023
£
55,869
6,688
1,452
44,799
-
108,808
Total
2023
£
11,191
141,451
2,467
-
155,109

Page 27

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

8 Creditors: amounts falling due within one year

Unrestricted
funds
£
Accounts Payable
20,414
Accruals
30,322
Payment on account
39,347
Bounce Back Loan
4,107
PAYE and social security
3,100
Pension owed
682
Total creditors due within one year
97,972
9
Creditors: amounts falling due after more than one year
Unrestricted
funds
£
Bounce Back Loan > 1 year
3,858
Total creditors due within one year
3,858		 Restricted
funds
£
-
-
-
-
-
-
-
Restricted
funds
£
-
-		 Total
2024
£
20,414
30,322
39,347
4,107
3,100
682
97,972
Total
2024
£
3,858
3,858		 Total
2023
£
14,376
28,604
43,914
4,006
4,854
-
95,754
Total
2023
£
7,964
7,964

Page 28

Artemis Studios Performing Arts Schools Limited

Notes to the Financial Statements for the year ended 31 August 2024

10 Charity funds - current year

Unrestricted funds
Total funds
11
Charity funds - previous year
Fund name:
Unrestricted funds
Total funds		 At 1
September
2023
£
162,484
162,484
At 1
September
2022
£
79,583
79,583		 Net
movement
in funds
£
130,761
130,761
Net
movement
in funds
£
82,901
82,901		 Transfers
between
funds
£
-
-
Resources
expended
£
-		 At 31
August
2024
£
293,245
293,245
At 31
August
2023
£
162,484
162,484

12 Limited by Guarantee

All members of the company, being Directors, each guarantee to contribute to the assets of the company in the vent of winding up, a sum not exceeding £1.

13 Related pary transactions

There were no related party transactions for the year ended 31 August 2024.

Page 29

SIGNATURE CERTIFICATE

REFERENCE NUMBER BF61B390-5814-4D89-AD8A-5DF111F7CEB3

TRANSACTION DETAILS

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DOCUMENT DETAILS

Document Name

2511 Final Charity Acounts 31-Aug-24 Artemis SPAS Limited 250521 Filename

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31 pages Content Type application/pdf File Size 1.41 MB Original Checksum

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