Company registration number: 09193813 Charity registration number: 1202547
**ARTEMIS STUDIOS PERFORMING ARTS SCHOOLS LIMITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025**
Green Accountancy Limited Chartered Certified Accountants Windrush House Windrush Park Road Witney Oxfordshire OX29 7DX
## **Artemis Studios Performing Arts Schools Limited Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2—6|
|Independent Examiner's Report|7|
|Statement of Financial Activities (including Income and Expenditure Account)|8|
|Balance Sheet|9|
|Statement of Cash Flows|10|
|Notes to the Statement of Cash Flows|11|
|Notes to the Financial Statements|12—21|
|The following pages do not form part of the statutory accounts:||
|Detailed Statement of Financial Activities (including Income and Expenditure Account)|22—23|
**Artemis Studios Performing Arts Schools Limited Reference and Administrative Details For The Year Ended 31 August 2025**
|**Trustees**|Mr Ashleigh Wells (resigned 27/08/2025)|
|---|---|
||Ms Mary-Jane Newton|
||Mrs Gemma Roch (appointed 27/08/2025)|
||Mrs Rosalind Robins|
||Mr Jonathan Undrell|
||Ms Tina Cresswell (appointed 30/10/2024)|
||Miss Pippa Shepherd (appointed 06/11/2024)|
||Miss Siobahn White (appointed 30/10/2024)|
|**Charity Number**|1202547|
|**Company Number**|09193813|
|**Principal Address**|71-75 Shelton Street|
||Covent Garden|
||London|
||WC2H 9JQ|
|**Registered Office**|71-75 Shelton Street|
||Covent Garden|
||London|
||WC2H 9JQ|
|**Independent Examiner**|Barry Coles FCCA|
||International House|
||50 Essex Street|
||London|
||WC2R 3JF|
|**Bankers**|HSBC|
||35 High Street|
||Berkshire|
||SL6 1JQ|
|**Solicitors**|Tessa Hennessy Solicitor|
||27 High Allen Crescent|
||Oxford|
||OX3 0HL|
Page 1
## **Artemis Studios Performing Arts Schools Limited Company No. 09193813 Trustees' Report For The Year Ended 31 August 2025**
The trustees present their report and the financial statements for the year ended 31 August 2025.
## **Objectives and Activities**
## **Charitable Objectives**
Artemis Studios Performing Arts Schools Limited exists to advance education and improve wellbeing through access to performing arts, creative education and physical activity opportunities for children, young people and adults.
The charity provides accessible training, workshops, performances, productions and community engagement opportunities across theatre, dance, music and cheerleading. Artemis Studios works to remove barriers to participation by maintaining affordable fees, offering subsidised opportunities where possible, and creating inclusive pathways for young people from a wide range of backgrounds and abilities.
The charity also supports vocational progression through Artemis College, offering full-time training opportunities for young performers and creatives.
## **Strategies to Achieve Our Objectives**
The charity’s strategy for achieving its objectives focuses on increasing access to high-quality performing arts education and community engagement opportunities. This includes expanding programme delivery, strengthening governance and operational structures, developing strategic partnerships, increasing fundraising and grant activity, and improving communication and outreach within the local community. The charity also aims to continue reducing barriers to participation through subsidised and inclusive provision.
## **Public Benefit**
The trustees confirm that they have complied with their duties under Section 17 of the Charities Act 2011 and have had due regard to the Charity Commission’s general guidance on public benefit.
The charity delivers public benefit through:
- Affordable access to performing arts and sports arts education
- Community performances and public events
- Development opportunities for children and young people
- Support for wellbeing, confidence and social connection through creative activity
- Vocational and career progression routes for young performers and creatives
- Outreach and engagement activities benefiting the wider local community
## **Short and Longer-Term Objectives**
The charity’s short-term objectives are to strengthen organisational capacity, increase participation across all programmes, expand outreach activity, and improve financial sustainability through increased earned income and external funding.
Longer-term objectives include securing larger premises to support continued growth, increasing provision for disadvantaged and SEND learners, developing new corporate and community partnerships, and expanding the charity’s reach and impact across the wider community.
Page 2
## **Artemis Studios Performing Arts Schools Limited Trustees' Report (continued) For The Year Ended 31 August 2025**
## **Achievements and Performance**
## **Main Achievements**
The 2024–2025 financial year represented a continued period of growth, consolidation and strategic development for Artemis Studios.
Income from charitable activities increased during the year to £822,322 (2024: £725,281), reflecting continued demand for the charity’s classes, productions, educational programmes and events. Total funds carried forward at year end increased to £385,544 (2024: £293,245).
Throughout the year the charity continued to deliver a broad programme of performing arts and sports arts activity for children, young people and adults across Berkshire and the Thames Valley.
Key achievements during the year included:
- Artemis worked with an average of 600 families a week.
- In March, our Deputy head of College represented the UK in The Eurovision Song Contest.
- We produced more than 8 theatre productions, and reached audiences of more than 10,000 people.
- Our college students produced a series of holiday classes for Youtube in October and Christmas terms to provide free classes online for young performers.
- In May we travelled with a cast of 28 young people to perform at Disney World in the USA.
- Our summer school collaboration with South Hill Park in August saw over 100 young performers take to the stage in Les Miserables, with all those 16-18 being fully funded by Artemis College and being awarded a recognised qualification for taking part over two weeks.
• In June our College won the National Schools Theatre Award for their production of Godspell, which saw them perform a reprisal and collect the award in the West End.
- Our holiday provision, including free places for children on free school meals, continued to grow with low cost childcare for all families, and 25% places completely free with meals, snacks and pastoral support.
- We were awarded multiple grants to offer free workshops in holiday periods in cheer, dance and musical theatre. Around 140 children aged 5-14 took part in each session.
- Ongoing development of safeguarding, governance and operational systems as the charity continues to grow
The charity continued to operate from hired community and arts venues across the region, enabling access to facilities while also presenting operational and logistical challenges associated with multi-site delivery.
The trustees are particularly proud of the dedication shown by staff, volunteers and young people throughout the year, alongside the charity’s continued commitment to accessibility and inclusion during a challenging economic climate.
## **Commentary on Key Goals Against Actual Achievements**
During the year, the charity made strong progress against its strategic objectives. Participation across paid and community provision increased, with several programmes operating at or near capacity and waiting lists continuing to grow. Outreach and partnership work expanded, including collaborations with schools and community organisations, increasing opportunities for children and young people to engage with performing arts activities.
Adding to an existing list of achievements Artemis College was recognised at the National Schools Theatre Awards, Studios continued growth with performances of We Will Rock You at the Wilde Theatre and Platinum Artemis Cheer qualifying to perform in the global cheer finals. Artemis has also provided core learning and skills that have been developed to allow three former pupils to appear in lead roles in Starlight Express and Come Alive in London.
The charity also strengthened its financial position through increased turnover, additional programme delivery, and continued growth in volunteer support. Progress was also made in developing the organisation’s profile, partnerships, and governance arrangements to support future growth.
Page 3
## **Artemis Studios Performing Arts Schools Limited Trustees' Report (continued) For The Year Ended 31 August 2025**
## **Financial Review**
## **Financial Position**
The charity reported a net surplus for the year of £92,299 (2024: £130,761).
The trustees consider this outcome positive and necessary in supporting the charity’s long-term sustainability, particularly in light of rising operational costs affecting the education, arts and charitable sectors.
Expenditure increased during the year in line with expanded activity levels, including additional staffing, venue hire, educational delivery and production costs. The charity also invested in additional computer equipment and infrastructure to support operations and programme delivery.
Deferred income at year end increased significantly to £137,707 (2024: £39,347), reflecting strong advance bookings and fees received for activities relating to the following academic and performance year.
The trustees continue to monitor financial performance carefully in response to wider economic pressures, including increases in venue hire costs, staffing costs and general inflationary pressures impacting the charity and the families it supports.
## **Reserves Policy**
The trustees recognise the importance of maintaining appropriate reserves to safeguard the charity’s future operations and ensure financial stability. They aim to keep three months of running costs (one academic term) in reserves, with any surplus currently being built for the capital costs of fitting a building out in the near future.
The charity’s unrestricted reserves at the year end were £383,044 (2024: 293,245). Resitricted reserves totalled £2,500 (2024: £Nil). Total reserves held being £385,544 (2024: £293,245).
The trustees consider current reserves levels appropriate to:
- Manage cash flow fluctuations across the academic and performance year
- Protect the charity against unexpected operational disruption
- Support future organisational development
- Enable investment in equipment, infrastructure and strategic growth opportunities
- Ensure the charity can continue delivering services during periods of financial uncertainty
The trustees regularly review the reserves policy as part of ongoing financial oversight.
## **Principal Funding Sources**
The charity’s principal funding sources include programme and tuition fees, grant funding, partnership agreements, fundraising activities, and donations. These income streams support the delivery of performing arts education, outreach programmes, subsidised places for disadvantaged participants, holiday provision, staffing costs, venue hire, and the continued development of community-based activities.
Partnership arrangements with education and arts organisations continue to play an important role in supporting programme delivery and extending the charity’s reach within the local community.
## **Risk Management**
The trustees actively review the major risks facing the charity and have continued to strengthen governance and operational procedures throughout the year.
Key areas monitored include:
* Safeguarding and welfare of children and young people
- Financial sustainability and cash flow management
- Staffing and volunteer capacity
- Venue and operational health and safety
- Data protection and cyber security
* Reputational risk * Regulatory compliance
Safeguarding remains a core priority for the organisation, with ongoing review of policies, procedures and staff training to ensure safe environments for all participants.
Page 4
## **Artemis Studios Performing Arts Schools Limited Trustees' Report (continued) For The Year Ended 31 August 2025**
## **Future Developments**
The trustees intend to continue developing the charity’s educational and community programmes while maintaining a strong focus on financial sustainability and accessibility.
Future priorities include:
- Continued growth and development of Artemis College
- Expansion of performance and engagement opportunities for young people
- Strengthening operational infrastructure and governance
- Development of future funding and partnership opportunities
- Continued investment in safeguarding, staff development and digital systems
* Exploration of long-term premises and facilities solutions to support organisational growth
The trustees remain committed to ensuring Artemis Studios continues to provide high-quality creative opportunities that positively impact the lives of children, young people and the wider community.
## **Structure, Governance and Management**
## **Governing Document**
Artemis Studios Performing Arts Schools Limited is governed by its Memorandum and Articles of Association.
## **Trustee Selection Methods**
The trustees are responsible for the overall governance and strategic direction of the charity. Trustees are recruited based on the skills, experience and expertise required to support the organisation effectively.
## **Induction and Training of Trustees**
New Trustees are appointed in accordance with the charity’s governing document and are subject to appropriate recruitment and safeguarding checks. Trustees receive an induction programme that includes briefing sessions with senior leadership and existing Board members, together with key organisational and governance documentation.
Trustees are also required to complete safeguarding training and are encouraged to participate in ongoing governance and sector-specific training to support the effective discharge of their responsibilities.
## **Key Management Remuneration**
The remuneration of key management personnel is reviewed annually by the Board of Trustees. Pay levels are considered with reference to comparable roles within the charity, education, and arts sectors, together with the charity’s financial position, affordability, and operational requirements. The charity aims to ensure remuneration remains fair, appropriate, and sufficient to attract and retain suitably qualified staff.
## **Organisational Structure**
Artemis Studios Performing Arts Schools Limited is a charitable company limited by guarantee.
## **Related Parties**
The charity works in partnership with a range of organisations, including education providers, arts organisations, schools, and community groups, to support the delivery of its charitable objectives. These partnerships have been enhanced to assist further with programme delivery, outreach activity, venue provision, and funding opportunities.
Any related party transactions are managed in accordance with the charity’s conflict of interest policy and are disclosed within the financial statements where required.
## **Key Management**
Day-to-day management is delegated to the senior leadership team and operational staff.
## **Senior Leadership Team**
Niki Robinson, CEO Stephen Harris, Executive Director Rosie Hill, Principal of the College
The trustees meet regularly to review performance, financial management, safeguarding, operational development and future strategy.
Page 5
## **Artemis Studios Performing Arts Schools Limited Trustees' Report (continued) For The Year Ended 31 August 2025**
## **Statement of Trustees' Responsibilities**
The trustees (who are also the directors of Artemis Studios Performing Arts Schools Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement 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 the financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
## **Small Company Rules**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Ms Mary-Jane Newton Mr Jonathan Undrell Trustee Trustee `28/05/2026 28/05/2026` Date
Page 6
## **Artemis Studios Performing Arts Schools Limited Independent Examiner's Report to the Trustees of Artemis Studios Performing Arts Schools Limited For The Year Ended 31 August 2025**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025.
## **Responsibilities and Basis of Report**
As the charity 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 the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The 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:
- �. accounting records were not kept in respect of the Company 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 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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 FCCA Date `29/05/2026` International House 50 Essex Street London WC2R 3JF
Page 7
## **Artemis Studios Performing Arts Schools Limited Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Charitable activities:
**4**
Performing and creative arts
Investments
**5**
**EXPENDITURE ON:**
Charitable activities:
**7**
Performing and creative arts
**NET INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**19**|**Unrestricted**
**funds**
**£**
2,360
819,822
5,349|**Restricted**
**funds**
**£**
-
2,500
-|**2025**
**Total funds **
**£**
2,360
822,322
5,349|**2024**
**Unrestricted**
**funds**
**£**
3,086
725,281
4,051|
|---|---|---|---|---|
||827,531|2,500|830,031|732,418|
||(737,732)|-|(737,732)|(601,657)|
||89,799|2,500|92,299|130,761|
||89,799
293,245|2,500
-|92,299
293,245|130,761
162,484|
||383,044|2,500|385,544|293,245|
The notes on pages 11 to 21 form part of these financial statements.
Page 8
## **Artemis Studios Performing Arts Schools Limited Balance Sheet As At 31 August 2025**
|**Notes**
**FIXED ASSETS**
Tangible Assets
**12**
**CURRENT ASSETS**
Debtors
**13**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**14**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**Creditors: Amounts Falling Due After More Than One Year**
**15**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Restricted Funds
Unrestricted Funds
**TOTAL FUNDS**
**19**|**Unrestricted**
**funds**
**£**
11,830|**Restricted**
**funds**
**£**
-|**2025**
**Total funds **
**£**
11,830|**2024**
**Total funds**
**£**
5,880|
|---|---|---|---|---|
||11,830
265,793
299,465|-
-
2,500|11,830
265,793
301,965|5,880
113,907
275,288|
||565,258
(194,044)|2,500
-|567,758
(194,044)|389,195
(97,972)|
||371,214|2,500|373,714|291,223|
||383,044|2,500|385,544|297,103|
||-|-|-|(3,858)|
||383,044|2,500|385,544|293,245|
||||2,500
383,044|-
293,245|
||||385,544|293,245|
For the year ending 31 August 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Ms Mary-Jane Newton Trustee `28/05/2026` Date
Mr Jonathan Undrell Trustee `28/05/2026`
The notes on pages 11 to 21 form part of these financial statements.
Page 9
## **Artemis Studios Performing Arts Schools Limited Statement of Cash Flows For The Year Ended 31 August 2025**
|**Notes**
**Cash flows from operating activities**
Net cash (used in)/generated from operations
**1**
Interest paid
Deferred income movement
Net cash generated from operating activities
**Cash flows from investing activities**
Purchase of tangible assets
Interest received
Net cash used in investing activities
**Cash flows from financing activities**
Repayment of bank borrowings
Increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
**2**
Cash and cash equivalents at end of year
**2**|**2025**
**£**
(63,940)
(192)
98,360
34,228
(8,793)
5,349
(3,444)
(4,107)
26,677
275,288
301,965|**2024**
**£**
130,591
(361)
(4,567)|
|---|---|---|
|||125,663|
|||(5,530)
4,051|
|||(1,479)|
|||(4,005)|
||||
|||120,179
155,109|
|||275,288|
Page 10
## **Artemis Studios Performing Arts Schools Limited Notes to the Statement of Cash Flows For The Year Ended 31 August 2025**
## 1. **Reconciliation of income to cash (used in)/generated from operations**
|.
**Reconciliation of income to cash (used in)/generated from operations**|||
|---|---|---|
|Net income
_Adjustments for:_
Interest expense
Interest income
Depreciation of tangible assets
_Movements in working capital:_
Increase in trade and other debtors
(Decrease)/increase in trade and other creditors
Net cash (used in)/generated from operations|**2025**
**£**
92,299
192
(5,349)
2,843
(152,431)
(1,494)
(63,940)|**2024**
**£**
130,761
361
(4,051)
1,935
(5,099)
6,684|
|||130,591|
## 2. **Cash and cash equivalents**
Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Cash at bank and in hand|301,965|275,288|
## 3. **Analysis of changes in net funds**
|.
**Analysis of changes in net funds**||||
|---|---|---|---|
|Cash at bank and in hand
Debts falling due within one year
Debts falling due after more than one year|**As at 1**
**September**
**2024**
**£**
275,288
(4,107)
(3,858)|**Cash flows**
**£**
26,677
249
3,858|**As at 31**
**August 2025**
**£**
301,965
(3,858)
-|
||267,323|30,784|298,107|
Page 11
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements For The Year Ended 31 August 2025**
## 1. **General Information**
Artemis Studios Performing Arts Schools Limited is a company limited by guarantee, incorporated in England & Wales, registered number 09193813 and registered charity number 1202547. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
## 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)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The charitable company is a Public Benefit Entity as defined by FRS 102.
## 2.2. **Incoming Resources**
Income is included in the Statement of Financial Activities (SoFA) when:
the charity becomes entitled to the resources;
it is more likely than not that the trustees will receive the resources;
the monetary value can be measured with sufficient reliability.
## **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.
## **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.
## 2.3. **Donated Goods and Services**
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
## 2.4. **Resources Expended**
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.
## 2.5. **Tangible Fixed Assets and Depreciation**
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment
25% on cost
Page 12
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 2.6. **Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 2.7. **Taxation**
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
## 2.8. **Pensions**
The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.
## 2.9. **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.
## 2.10. **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.
Page 13
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 3. **Income from Donations and Legacies**
|.
**Income from Donations and Legacies**||||
|---|---|---|---|
|Donations and gifts:
Donations and gifts
.
**Income from Charitable Activities**
Performing and creative arts:
Education
Grants
Sale of goods related to main activity
Theare tax relief credit
Foreign exchange variance
Other income
Performing and creative arts:
Education
Grants
Sale of goods related to main activity
Theare tax relief credit
Foreign exchange variance
Other income
.
**Investment Income**
Bank interest receivable|**Unrestricted**
**funds**
**£**
761,591
612
26,108
30,280
681
550|**2025**
**Unrestricted**
**funds**
**£**
2,360|**2024**
**Unrestricted**
**funds**
**£**
3,086|
|||**Restricted**
**funds**
**£**
-
2,500
-
-
-
-|**2025**
**Total**
**funds**
**£**
761,591
3,112
26,108
30,280
681
550|
||819,822|2,500|822,322|
||**Unrestricted**
**funds**
**£**
675,159
1,000
21,121
28,001
-
-|**Restricted**
**funds**
**£**
-
-
-
-
-
-|**2024**
**Total**
**funds**
**£**
675,159
1,000
21,121
28,001
-
-|
||725,281|-|725,281|
|||**2025**
**Unrestricted**
**funds**
**£**
5,349|**2024**
**Unrestricted**
**funds**
**£**
4,051|
## 4. **Income from Charitable Activities**
5. **Investment Income**
Page 14
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 6. **Net Income/(Expenditure)**
The net income is stated after charging/(crediting):
|he net income is stated after charging/(crediting):|||
|---|---|---|
||**2025**|**2024**|
||**£**|**£**|
|Bad debts|1,123|2,673|
|Depreciation of tangible fixed assets - owned|2,843|1,935|
## 7. **Analysis of Expenditure**
|.
**Analysis of Expenditure**||||
|---|---|---|---|
|Performing and creative arts
Performing and creative arts|**Activities**
**undertaken**
**directly**
(see note 8)
**£**
664,587|**Support costs**
(see note 9)
**£**
73,145|**2025**
**Total**
**£**
737,732|
||**Activities**
**undertaken**
**directly**
(see note 8)
**£**
542,938|**Support costs**
(see note 9)
**£**
58,719|**2024**
**Total**
**£**
601,657|
Page 15
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 8. **Direct Costs**
|.
**Direct Costs**||
|---|---|
|Cost of goods sold:
Cost of goods sold
Box office charges
Education expenses
Entry fees
Production costs
Show tickets
Rent and hall hire
Self employed personnel
Employee costs:
Wages and salaries
Employers NI
Employers pensions - defined contribution schemes
Cost of goods sold:
Cost of goods sold
Box office charges
Education expenses
Entry fees
Production costs
Show tickets
Rent and hall hire
Self employed personnel
Employee costs:
Wages and salaries
Employers NI
Employers pensions - defined contribution schemes|**2025**
**Performing**
**and creative**
**arts**
**£**
34,836
7,781
78,919
26,169
52,066
4,302
74,863
79,787
282,634
17,418
5,812|
||664,587|
||**2024**
**Performing**
**and creative**
**arts**
**£**
23,901
6,206
37,137
23,049
50,114
4,258
67,773
71,637
245,310
10,772
2,781|
||542,938|
Page 16
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 9. **Support Costs**
|Employee costs:
Staff training
Staff entertaining
Travel and subsistence expenses
General administration:
Computer and IT consumables
Insurance
Printing, postage and stationery
Advertising and marketing costs
Telephone and internet
Professional fees
Bank charges
Charitable donations
Bad debts written off
Sundry expenses
Business development
Depreciation:
Depreciation
Interest payable:
Bank interest payable
Governance costs:
Independent examiner's fees
Accountancy fees
Employee costs:
Staff training
Staff entertaining
Travel and subsistence expenses
Premises expenses:
Cleaning
General administration:
Computer and IT consumables
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Advertising and marketing costs|**2025**
**Performing**
**and creative**
**arts**
**£**
3,465
1,314
9,047
6,682
2,048
3,395
18,507
1,759
6,624
2,560
245
1,123
639
6,850
2,843
192
756
5,096
73,145
**2024**
**Performing**
**and creative**
**arts**
**£**
1,454
2,016
9,777
326
5,400
60
1,971
3,776
15,735
...CONTINUED|
|---|---|
Page 17
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
|Telephone and internet
Professional fees
Bank charges
Charitable donations
Bad debts written off
Sundry expenses
Depreciation:
Depreciation
Interest payable:
Bank interest payable
Governance costs:
Independent examiner's fees
Accountancy fees
10.
**Staff Costs**
Staff costs were as follows:
Wages and salaries
Social security costs
Other pension costs|**2025**
**£**
282,634
17,418
5,812
305,864|1,315
3,945
2,282
820
2,673
228
1,935
361
756
3,889|
|---|---|---|
|||58,719|
|||**2024**
**£**
245,310
10,772
2,781|
|||258,863|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
11. **Average Number of Employees**
Average number of employees during the year was: 14 (2024: 12)
12. **Tangible Assets**
|2.
**Tangible Assets**||
|---|---|
|**Cost**
As at 1 September 2024
Additions
As at 31 August 2025
**Depreciation**
As at 1 September 2024
Provided during the period
As at 31 August 2025
**Net Book Value**
As at 31 August 2025
As at 1 September 2024|**Computer**
**Equipment**
**£**
12,859
8,793|
||21,652|
||6,979
2,843|
||9,822|
||11,830|
||5,880|
Page 18
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 13. **Debtors**
|13.
**Debtors**|||
|---|---|---|
|**Due within one year**
Trade debtors
Prepayments and accrued income
Other debtors
Tax recoverable
Net wages
14.
**Creditors: Amounts Falling Due Within One Year**
Trade creditors
Bank loans and overdrafts
Other taxes and social security
Pensions payable
Accruals
Deferred Income
15.
**Creditors: Amounts Falling Due After More Than One Year**
Bank loans
16.
**Loans**
An analysis of the maturity of loans is given below:
Amounts falling due within one year or on demand:
Bank loans
Amounts falling due between one and five years:
Bank loans|**2025**
**£**
194,699
11,785
-
58,402
907
265,793
**2025**
**£**
17,832
3,858
7,540
118
26,989
137,707
194,044
**2025**
**£**
-
**2025**
**£**
3,858
**2025**
**£**
-|**2024**
**£**
78,628
5,682
144
28,001
1,452|
|||113,907|
|||**2024**
**£**
20,414
4,107
3,100
682
30,322
39,347|
|||97,972|
|||**2024**
**£**
3,858|
|||**2024**
**£**
4,107|
|||**2024**
**£**
3,858|
Page 19
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 17. **Deferred Income**
Deferred income movements in the year were as follows:
|Balance at the start of the period
Income deferred in the current period
Amounts released in income from previous periods
Balance at the end of the period|**2025**
**£**
39,347
137,707
(39,347)|**2024**
**£**
43,914
39,347
(43,914)|
|---|---|---|
||137,707|39,347|
Deferred income represents income received in advance of the delivery of charitable activities. At the year end, this comprised £133,107 in respect of tuition and classes relating to the forthcoming school year, and £4,600 relating to deposits received for entry into cheer competitions in the following financial year. These amounts will be recognised as income in the period in which the related activities are delivered.
## 18. **Pension Commitments**
The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.
During the year the charge to the statement of financial activities in respect of defined contribution schemes was £5,812 (2024: £2,781).
At the balance sheet date contributions of £118 (2024: £682) were due to the fund and are included in creditors.
## 19. **Movement in Funds**
|**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Berkshire Community Fund
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Total funds**|**As at 1**
**September**
**2024**
**£**
293,245
-|**Income**
**£**
827,531
2,500|**Expenditure**
**£**
(737,732)
-|**As at 31**
**August 2025**
**£**
383,044
2,500|
|---|---|---|---|---|
||293,245|830,031|(737,732)|385,544|
||**As at 1**
**September**
**2023**
**£**
162,484|**Income**
**£**
732,418|**Expenditure**
**£**
(601,657)|**As at 31**
**August 2024**
**£**
293,245|
||162,484|732,418|(601,657)|293,245|
Page 20
## **Artemis Studios Performing Arts Schools Limited Notes to the Financial Statements (continued) For The Year Ended 31 August 2025**
## 20. **Transactions with Trustees**
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
No trustee expenses have been incurred.
## 21. **Related Party Disclosures**
There have been no related party transactions in the reporting period that require disclosure.
## 22. **Company limited by guarantee**
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 21
## **Artemis Studios Performing Arts Schools Limited Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 August 2025**
|**INCOME AND ENDOWMENTS FROM:**
**Donations and legacies**
Donations and gifts
**Charitable Activities:**
**Performing and creative arts**
Education
Grants
Sale of goods related to main activity
Theare tax relief credit
Foreign exchange variance
Other income
**Investments**
Bank interest receivable
**EXPENDITURE ON:**
**Charitable Activities:**
**Performing and creative arts**
Cost of goods sold
Box office charges
Education expenses
Entry fees
Production costs
Show tickets
Rent and hall hire
Self employed personnel
Wages and salaries
Employers NI
Employers pensions - defined contribution schemes
Staff training
Staff entertaining
Travel and subsistence expenses
Cleaning
Computer and IT consumables
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Advertising and marketing costs
Telephone and internet
Professional fees|**2025**
**Total**
**funds**
**£**
2,360|**2024**
**Total**
**funds**
**£**
3,086
3,086
675,159
1,000
21,121
28,001
-
-
725,281
4,051
4,051
732,418
(23,901)
(6,206)
(37,137)
(23,049)
(50,114)
(4,258)
(67,773)
(71,637)
(245,310)
(10,772)
(2,781)
(1,454)
(2,016)
(9,777)
(326)
(5,400)
(60)
(1,971)
(3,776)
(15,735)
(1,315)
(3,945)
...CONTINUED|
|---|---|---|
||2,360
761,591
3,112
26,108
30,280
681
550||
||822,322
5,349||
||5,349||
||830,031
(34,836)
(7,781)
(78,919)
(26,169)
(52,066)
(4,302)
(74,863)
(79,787)
(282,634)
(17,418)
(5,812)
(3,465)
(1,314)
(9,047)
-
(6,682)
-
(2,048)
(3,395)
(18,507)
(1,759)
(6,624)||
Page 22
## **Artemis Studios Performing Arts Schools Limited Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 31 August 2025**
|Bank charges
Charitable donations
Bad debts written off
Sundry expenses
Business development
Depreciation
Bank interest payable
Independent examiner's fees
Accountancy fees
**NET INCOME**|(2,560)
(245)
(1,123)
(639)
(6,850)
(2,843)
(192)
(756)
(5,096)|(2,282)
(820)
(2,673)
(228)
-
(1,935)
(361)
(756)
(3,889)|
|---|---|---|
||(737,732)|(601,657)|
||(737,732)|(601,657)|
||92,299|130,761|
Page 23
## **SIGNATURE CERTIFICATE**
**REFERENCE NUMBER 9C91F95D-B6D8-45EB-B649-2C6C61E218D8**
**TRANSACTION DETAILS DOCUMENT DETAILS Reference Number Document Name 9C91F95D-B6D8-45EB-B649-2C6C61E218D8 2511 Final Accounts 31-Aug-25 ASPAS Limited 260528 Transaction Type Filename Signature Request 2511_Final_Accounts_31-Aug-25_ASPAS_Limited_260528.pdf Sent At Pages 05/28/2026 01:21:09 PM +00 25 pages Executed At Content Type 05/29/2026 06:23:18 AM +00 application/pdf Identity Method File Size email 170 KB Distribution Method Original Checksum email fcb90bbb9192bba7477f2ec42ef61038136349e2dd716fcfc86e991cd782362c Signed Checksum 5c04a965a6db56a92cbc2320c000e9ff252606543febcf6214de639ac0571901**
**Signer Sequencing Enabled Document Passcode Disabled eIDAS Authentication Disabled**
## **SIGNERS**
|**SIGNER**|**E-SIGNATURE**|**EVENTS**|
|---|---|---|
|**Name**|**Status**|**Viewed At**|
|**Barry Coles**|**signed**|**05/29/2026 06:22:37 AM +00**|
|**Email**|**Multi-factor Digital Fingerprint Checksum**|**Identity Authenticated At**|
|**barry@greenaccountancy.com**|**4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945**|**05/29/2026 06:23:18 AM +00**|
|**Signer Sequence**|**IP Address**|**Signed At**|
|**2**|**38.126.89.207**|**05/29/2026 06:23:18 AM +00**|
|**Components**|**Device**||
|**2**|**Firefox via Windows**||
||**Typed Signature**||
||||
||**Signature Reference ID**||
||**F8C5FC75**||
|**Name**|**Status**|**Viewed At**|
|**Mary-Jane Newton**|**signed**|**05/28/2026 05:15:06 PM +00**|
|**Email**|**Multi-factor Digital Fingerprint Checksum**|**Identity Authenticated At**|
|**mary-jane@artemis-studios.org.uk**|**4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945**|**05/28/2026 05:15:54 PM +00**|
|**Signer Sequence**|**IP Address**|**Signed At**|
|**1**|**62.103.241.242**|**05/28/2026 05:15:54 PM +00**|
|**Components**|**Device**||
|**4**|**Chrome Mobile via Android**||
||**Typed Signature**||
||||
||**Signature Reference ID**||
||**B21BFA26**||
||**Typed Signature**||
||||
||**Signature Reference ID**||
||**6D4A412E**||
|**SIGNER**|**E-SIGNATURE**|**EVENTS**|
|---|---|---|
|**Name**|**Status**|**Viewed At**|
|**Jonathan Undrell**|**signed**|**05/28/2026 03:29:16 PM +00**|
|**Email**|**Multi-factor Digital Fingerprint Checksum**|**Identity Authenticated At**|
|**jonathan@artemis-studios.org.uk**|**4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945**|**05/28/2026 03:30:19 PM +00**|
|**Signer Sequence**|**IP Address**|**Signed At**|
|**0**|**82.132.232.20**|**05/28/2026 03:30:20 PM +00**|
|**Components**|**Device**||
|**4**|**Mobile Safari via iOS**||
||**Typed Signature**||
||||
||**Signature Reference ID**||
||**8C4EAE1A**||
||**Typed Signature**||
||||
||**Signature Reference ID**||
||**3CCF9C90**||
## **AUDITS**
## **TIMESTAMP**
**05/28/2026 01:21:09 PM +00**
**05/28/2026 01:21:09 PM +00 05/28/2026 03:29:16 PM +00 05/28/2026 03:30:19 PM +00 05/28/2026 03:30:20 PM +00**
**05/28/2026 03:30:20 PM +00 05/28/2026 05:15:06 PM +00**
**05/28/2026 05:15:54 PM +00**
**05/28/2026 05:15:54 PM +00**
**05/28/2026 05:15:54 PM +00 05/29/2026 06:22:37 AM +00 05/29/2026 06:22:37 AM +00 05/29/2026 06:23:18 AM +00 05/29/2026 06:23:18 AM +00**
**AUDIT Jenny Brooks (jenny@greenaccountancy.com) created document '2511_Final_Accounts_31-Aug25_ASPAS_Limited_260528.pdf' on Firefox via Windows from 84.65.46.50. Jonathan Undrell (jonathan@artemis-studios.org.uk) was emailed a link to sign. Jonathan Undrell (jonathan@artemis-studios.org.uk) viewed the document on Mobile Safari via iOS from 82.132.232.20. Jonathan Undrell (jonathan@artemis-studios.org.uk) authenticated via email on Mobile Safari via iOS from 82.132.232.20. Jonathan Undrell (jonathan@artemis-studios.org.uk) signed the document on Mobile Safari via iOS from 82.132.232.20. Mary-Jane Newton (mary-jane@artemis-studios.org.uk) was emailed a link to sign. Mary-Jane Newton (mary-jane@artemis-studios.org.uk) viewed the document on Chrome Mobile via Android from 62.103.241.242.**
**Mary-Jane Newton (mary-jane@artemis-studios.org.uk) authenticated via email on Chrome Mobile via Android from 62.103.241.242.**
**Mary-Jane Newton (mary-jane@artemis-studios.org.uk) signed the document on Chrome Mobile via Android from 62.103.241.242.**
**Barry Coles (barry@greenaccountancy.com) was emailed a link to sign.**
**Barry Coles (barry@greenaccountancy.com) viewed the document on Firefox via Windows from 38.126.89.207. Barry Coles (barry@greenaccountancy.com) viewed the document on Firefox via Windows from 38.126.89.207. Barry Coles (barry@greenaccountancy.com) authenticated via email on Firefox via Windows from 38.126.89.207. Barry Coles (barry@greenaccountancy.com) signed the document on Firefox via Windows from 38.126.89.207.**