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2025-06-30-accounts

Charity registration number 1203689 Company registration number 10876786

MINERVA ARTS & WELLBEING

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

MINERVA ARTS & WELLBEING

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees G Ormerod (Chair)
J McKay
D McGee
L Procopis
L Robinson
Charity number 1203689
Company number 10876786
Principal address 31 Norfolk Street
Sunderland
SR1 1EE
Independent examiner Clover Accounting
4 The Pastures
Coulby Newham
TS8 0UJ

MINERVA ARTS & WELLBEING

CONTENTS

Page
Trustees' report 1 - 10
Independent examiner's report 11
Statement of financial activities 12 - 13
Balance sheet 14
Notes to the financial statements 15 - 21

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The trustees present their annual report and financial statements for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Public Benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The trustees are satisfied that the charity delivers a public benefit and they play an active role in determining which provision will be presented to the public to ensure all new and existing activities serve a public benefit.

Objectives and aims

The summary of the purposes of the charity as set out in the governing document are: The advancement of high standards of arts education in the community, including the promotion of crafts and craftsmanship, local arts groups including community education, lifelong learning and the development of skills and understanding. To promote social inclusion for the public benefit by using the arts to prevent people becoming socially excluded and assisting them to integrate into society. For social exclusion in this case we mean, being excluded from society as a result of being a member of a socially excluded and economically deprived community. The prevention or relief of poverty in Sunderland and surrounding areas by providing: items and services to individuals in need and or charities or other organisations working to prevent or relieve poverty. To promote for the benefit of the inhabitants of Sunderland and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.

The summary of the main activities in relation to those purposes for the public benefit are: arts and wellbeing services including ceramics, fused glass, home fragrances, batik, textiles, floristry and additional craft-based activities that are designed to improve wellbeing, mental health and promote inclusive learning opportunities amongst individuals in need of support.

Volunteers

Volunteers receive training in safeguarding and work alongside our full and part-time staff to support them in their duties and assist the communities we serve. Additionally, our volunteers are trained in Prevent and WRAP, and the charity obtains an enhanced DBS certificate for each volunteer in the organisation. Over the last year, two of our volunteers have secured jobs through our support and development network, with an additional two volunteers setting up their own business and now engages with the charity in a business capacity. These success stories of our volunteers show that we are successfully delivering on the aims and objectives of the charity.

Achievements and performance Statement from the Chair

The past year has been one of considerable challenge for both our organisation and the wider community we exist to serve. The ongoing pressures of the cost-of-living crisis have continued to affect every aspect of daily life. Increases in household bills, accommodation costs and essential goods have placed a heavy burden on individuals and families, as well as on the organisations striving to support them. These economic realities have inevitably influenced the demand for our services and presented new operational pressures as we work to remain steady and dependable for those who need us most.

Alongside these difficulties, the funding environment in which we operate has shifted markedly. Increased demand for funding among grant makers and changing commissioners’ priorities have combined to create a more competitive and uncertain landscape, which has directly affected our ability to plan with confidence.

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Since our inception, the delivery of adult education contracts has formed the backbone of our earned income and played a major role in sustaining our charitable work. However, the decision by our usual local authority not to procure provision for the financial year covered by this report has resulted in an earned income shortfall of around £100,000 against forecast during the financial period covered by this report. In response, the Board and senior leadership have taken decisive but difficult measures to reduce expenditure, including cutting staff hours and returning some of our leased premises to the landlord. These actions were taken with great care and have helped to protect the long-term health of the organisation.

Despite these challenges, the resolve and unity shown across the charity has been exceptional. Our trustees, senior management, tutors, project leads and volunteers have worked together with determination to ensure that services remain accessible and effective. Their professionalism and compassion has allowed us to continue reaching an increasing number of people, even under financial strain and their shared commitment has been fundamental to our ability to adapt and move forward.

The Board of Trustees has remained fully engaged in steering the organisation through this difficult period. By maintaining rigorous financial oversight, scrutinising expenditure and assessing strategic risk, the Board has upheld strong governance and ensured that the charity operates on a secure and transparent footing. This approach has helped us to navigate uncertainty while protecting the trust placed in us by our community, partners and funders. Our senior management team, tutors and project staff have continued to demonstrate impressive flexibility and leadership. They have balanced delivery with prudent cost management and have kept the organisation focused on its objectives. Likewise, our volunteers remain indispensable to our mission. Their time, kindness and enthusiasm continue to shape the welcoming environment that defines our work and sustains our impact within the community.

Looking ahead, we remain focused on delivering meaningful, measurable outcomes for those we support. Strengthening partnerships with funders, statutory agencies and community organisations will remain central to our strategy. Collaboration will be essential in ensuring that we can respond effectively to ongoing change while safeguarding the sustainability of our services. These partnerships give us the confidence to plan for the future and to continue addressing the needs of the communities we serve.

On behalf of the Board of Trustees, I offer my sincere thanks to everyone who has contributed to our work over the past year. To our staff, volunteers, trustees, beneficiaries, funders and partners, your trust and dedication are what enable us to continue fulfilling our mission. With your continued support, I am confident that we will meet future challenges with strength and continue to make a lasting difference across our community.

Statement from the Chief Executive Officer

The past year has been one of real challenge but also of reflection, learning and achievement. Working across Sunderland, Gateshead and neighbouring areas, we have supported more than 3,000 people who have come to us seeking skills development support, connection, creativity and opportunities to aspire, unlock their full potential and be inspired by the benefits of cultural engagement. This figure tells a powerful story of need within our communities, but also of the commitment and compassion of the people who make our work possible. Our staff, tutors, volunteers and partners have shown remarkable strength and professionalism throughout a period of financial and social strain, helping us to continue delivering meaningful, high-quality services when they have been needed most.

Financially, this has been one of the most testing years since our formation. A key pillar of our earned income has always been the delivery of adult education contracts, which for many years provided a dependable source of revenue and allowed us to operate steadily and on a consistent scale year-to-year. However, during the financial period covered by these accounts, our previously contracting local authority made the decision not to procure adult education delivery. This resulted in a loss of approximately £100,000 against our income forecast. The absence of this contract, combined with the closure of one-off funding opportunities such as the Community Fund’s Cost of Living Fund and The Foyle Foundation, has had a significant impact on our operating position.

In response, we have taken measured but necessary steps to reduce our expenditure and protect the future of the charity as outlined in the above report by our Chair. Throughout this period, our Board of Trustees has provided steady and insightful leadership. Their support and oversight have been vital in helping us to make balanced decisions and manage the uncertainty brought about by a changing funding environment. They continue to play an active role in ensuring that we remain accountable, forward-looking and true to our charitable purpose.

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Despite these challenges, there has been much to be proud of and many achievements to celebrate. Our staff and tutors have continued to deliver creative and wellbeing programmes that improve confidence, reduce isolation and offer a sense of belonging to those who take part. Our volunteers, too, have continued to give their time and energy freely, offering kindness and encouragement that make a real difference to people’s lives. The way our team has responded to these challenges with compassion and professionalism has been truly inspiring.

We have also looked ahead. Over recent months, we have carried out community consultation to shape new ideas for future projects and grant applications. This engagement has helped us to identify emerging needs and develop creative responses that build on the strengths of our existing work. These proposals, now being prepared for submission to a range of funders, will help ensure that our services remain relevant, inclusive and sustainable.

Looking forward, we recognise that the coming year will continue to bring financial pressure, and that income is likely to be lower than in previous years. We also anticipate that local authority tendering will reopen in 2026, and we are using this time to consolidate, strengthen partnerships and operate at a smaller scale with a leaner model, while maintaining quality and focus. This is a period of stabilisation and preparation, built on the same values of compassion, creativity and community that have always defined Minerva Arts & Wellbeing.

I would like to express my deepest thanks to everyone who has stood with us during this year — our team, tutors, volunteers, trustees, funders, partners and the communities we serve. Your trust, dedication and belief in what we do have carried us through challenging times. Together, we will continue to adapt, grow and create spaces where people can feel supported, valued and inspired. With that same sense of unity and purpose, I am confident that we will move into the year ahead with resilience and renewed hope.

Performance and Achievement – Engaging with Learners and Beneficiaries This year, we have supported a total of 3,021 individuals across Sunderland, Gateshead, Northumberland and surrounding areas. This reach demonstrates both the growing need for our services and the continuing recognition of the value of our work within local communities. Alongside those who have benefited from our ongoing provision, we have welcomed a significant number of new participants who have accessed our support for a wide range of reasons, including mental health and wellbeing needs, social connection and access to practical assistance such as winter fuel packs.

The following provides an overview of those who have accessed our services during the year:

Returning Beneficiaries – 2,380 Newly Engaged Beneficiaries – 521 Referrals Received by the Organisation – 120*

*We continue to operate an open access model, meaning individuals can self-refer to our services without requiring a professional referral. We also receive referrals from a wide network of community partners, including local authorities, health and care providers, and voluntary sector organisations across the region.

At Minerva Arts & Wellbeing, we are committed to reaching individuals facing a broad range of challenges, including poor mental health, isolation, financial hardship and social exclusion. We engage with people from diverse backgrounds and lived experiences, including members of the LGBTQIA+ community, Black, Asian and Minority Ethnic groups, older people, children, young adults, individuals with physical or learning disabilities, refugees, asylum seekers, care leavers, unpaid carers, survivors of domestic abuse, ex-offenders and those living in areas of multiple deprivation. Our services remain open and inclusive to all who seek support, regardless of background or circumstance.

We ensure that access is straightforward and welcoming for anyone in need, whether through self-referral or through our extensive partnerships with other organisations. These partnerships include the Voluntary and Community Sector Alliance, GP Alliance, foodbanks, mental health charities, domestic abuse shelters, schools, cultural organisations, the NHS, wellbeing hubs and local authority teams. Working collaboratively allows us to reach those who might otherwise remain isolated or unaware of available support.

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

As in previous years, our findings during this period have highlighted that the most common reasons for engagement remain related to mental health and wellbeing, particularly depression, anxiety, loneliness and stress-related conditions. In many cases, these challenges are compounded by financial pressures, housing instability and food insecurity. Over the past 12 months, the demand for our food parcels provision service has been the highest we have ever recorded, with a 121% increase in the number of food parcels distributed. This rise clearly reflects the ongoing impact of the cost-ofliving crisis and demonstrates how our practical and creative interventions continue to provide essential relief and emotional support for those who need it most.

Performance and Achievement – Addressing Child Poverty and Inequality

Over the past year, the charity has prioritised work that addresses child poverty and inequality through the delivery of its school holiday intervention programmes. This initiative has provided free-to-access, culturally enriching opportunities for children and young people across the North East who may otherwise face barriers to participation in creative, educational and social activities.

The programme offers a range of structured sessions including ceramics, textiles, glass making, soap and candle making and outdoor activities. Each activity is designed to promote creativity, teamwork and confidence while contributing to the overall wellbeing of participants. The provision is free to attend and removes the financial and social barriers that can prevent children from accessing high-quality creative experiences during school holidays.

A key feature of the programme is the integration of functional skills in English, maths and digital learning within all activities. By embedding these core skills into each session, the charity supports the continued development of literacy and numeracy outside of term time and works to reduce the attainment gap that can widen for disadvantaged pupils. This practical approach to learning helps children build confidence in reading, writing, numeracy and communication through hands-on experiences that reinforce essential skills in a supportive and informal environment.

The charity recognises that school holidays can present significant challenges for families, particularly for those already affected by the ongoing cost-of-living crisis. Many parents and carers face increased pressure to provide food, childcare and enrichment activities at a time when household costs are rising. In response, the programmes include the provision of a healthy and nutritious meal for every child attending. For some, this is the only substantial meal they will receive that day. By ensuring children are well fed, the charity helps to improve concentration, promote healthy development and create the conditions necessary for learning to continue beyond the classroom.

Feedback from families has highlighted the positive difference the programme makes, both for the children who attend and for their parents and carers. Many report improvements in their children’s confidence, social interaction and enthusiasm for learning. The sessions also offer vital respite for families who would otherwise struggle to access structured, positive activities during the holidays.

Through the school holiday intervention programmes, the charity continues to demonstrate its commitment to reducing inequality and promoting access to creative learning opportunities for all children, regardless of circumstance. By combining creativity, education and wellbeing support, the organisation plays a meaningful role in tackling child poverty and helping to build stronger, more resilient communities across the region.

The demographic breakdown of those accessing our services during this period is as follows:

Sex

• Male – 18% • Female – 79%

• Prefer not to say – 3%

Age • 0–17 – 6% • 18–25 – 16% • 26–40 – 12% • 41–60 – 40%

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Over the past year, the Trustees and senior management team have continued to prioritise strategies designed to strengthen engagement among groups historically underrepresented in our work, particularly men, young adults aged 18–25 and children living in poverty. These targeted efforts have shown encouraging results, with participation from all demographics increasing. Our work with children, and young people aged 18-25 increased more quickly and higher than our work with men. The collaboration between trustees, management, tutors, volunteers and partner organisations has been key to achieving this progress. We remain committed to widening participation further and ensuring that our services reflect the diversity of the communities we serve.

Addressing child poverty and inequality will remain a strategic priority for the Board in the year ahead. Trustees recognise that the challenges facing children and families are deepening as the cost-of-living crisis continues to impact household stability, access to food and educational attainment. The Board is committed to sustaining and, where possible, expanding our school holiday intervention programme to ensure that children from low-income families continue to benefit from safe, structured and enriching opportunities outside of term time whilst combating holiday hunger. This focus aligns with the charity’s wider aim of promoting equality of opportunity and supporting early intervention that reduces the long-term effects of disadvantage. Moving forward, the Board will continue to seek partnerships and funding that strengthen this area of delivery, ensuring that every child has access to creative learning experiences that nurture wellbeing, confidence and aspiration.

Minerva Arts & Wellbeing remains dedicated to providing accessible, creative and educational opportunities that improve mental health, strengthen wellbeing and encourage personal growth. Our programmes are designed to offer people the chance to explore new skills, connect with others and experience the therapeutic benefits of creativity. Each participant begins their journey with an Information, Advice and Guidance (IAG) session led by one of our tutors, followed by the creation of an Individual Learning Plan (ILP). These tools help us identify personal goals, establish clear and achievable targets and measure progress throughout their engagement. This structured yet person-centred approach ensures that our support is both meaningful and responsive to individual needs.

During the year, we delivered an extensive range of short courses, workshops and ongoing programmes across numerous disciplines. These included ceramics, fused glass, batik, home fragrance design, floristry, lino printing, macramé, watercolour painting, textiles, craft-making, sewing, outdoor pursuits, yoga, cookery, plant propagation and upcycling. This variety ensures that participants can engage with activities that inspire them, while gaining practical and creative skills that contribute to improved wellbeing and confidence.

Beyond creative enjoyment, our work is focused on fostering lasting and measurable change. Our programmes are structured to enhance mental health and wellbeing, build confidence and strengthen employability and life skills. We adopt a holistic model that supports individuals in addressing barriers to personal development and social inclusion. Over time, we have seen participants increase their self-belief, build friendships, reconnect with their communities and take steps towards further education, volunteering or employment.

Data Collection and Satisfaction Assessment

To ensure the quality and impact of our services, we collect continuous feedback from participants. In addition to the IAG and ILP processes, we issue a feedback form at the end of every session to capture both quantitative data and personal reflections. This information helps us refine our delivery and ensure our programmes remain relevant and effective. Between 1st July 2024 and 30th June 2025, we worked with 3,021 beneficiaries and received 2,885 feedback forms, achieving a completion rate of 95%.

The responses remain highly positive:

These findings reaffirm the tangible difference our programmes make in improving wellbeing, reducing isolation and strengthening community connection. The consistently high satisfaction levels demonstrate that our services continue to provide a trusted, safe and positive environment where people feel supported, valued and empowered to grow.

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

MINERVA ARTS & WELLBEING

The chart below illustrates responses related to improvements in mental health and wellbeing, highlighting the positive impact of our services.

Minerva Arts & Wellbeing also encourages participants to share their personal reflections on how engaging with our programmes has influenced their lives. These written testimonials offer valuable insight into the positive changes experienced by those who have taken part in our activities.

Below is a selection of feedback from individuals who have accessed our services and chosen to share their experiences –

“The ceramics course became my weekly escape. Working with clay helped me slow down and focus on the moment instead of everything I’ve been worrying about. There’s something grounding about shaping something with your hands. I’ve kept a few pieces I made and they remind me that I’m capable of more than I thought.”

“The fused glass sessions were such a joy. I’d never done anything like it before and was nervous at first, but the group was so welcoming. Seeing the light shine through something I’d created was honestly emotional. It gave me a boost of confidence I hadn’t felt in years.”

“Making soaps and candles was far more therapeutic than I expected. Measuring, mixing and choosing scents became something I looked forward to all week. I’ve started making them at home now for friends and family. It feels good to have a hobby that helps me unwind and brings others happiness too.”

“The textiles workshops really changed things for me. I’ve been dealing with depression for a long time, and getting out of the house has been hard. But sewing with others, chatting and laughing while we worked, helped me feel part of something again. It’s reminded me what community can mean.”

“Learning batik was fascinating. I’d never seen the process before and loved the mix of colour, fabric and design. It made me feel creative in a way I hadn’t for years. The tutor was patient and encouraging, and I’ve even started looking for second-hand materials to try batik projects at home.”

“I joined the candle making course with a friend and it turned out to be one of the best things we’ve done together. The smell of the oils, the calm atmosphere, and the little chats around the table made such a difference to my week. I use the candles I made when I need to relax, they remind me how far I’ve come.”

Below is an example of the services carried out over the last twelve months.

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Achievements and performance

Charitable activities

The charity received donations, legacies and gift aid totaling £13,304 (2024: £ 4,651).

A decrease in grants and workshop funding and an increase in charitable activities costs, has led to an overall decrease in total net income, with a deficit in the period of £111,077 (2024: surplus £94,934) all of which is from the Charity's normal operating activities.

Financial review

At the end of the year the charity had restricted funds of £18,000 (2024: £27,450) and unrestricted funds of £4,516 (2024: £106,143) of which £nil (2024: £98,275) are considered as free reserves.

During the year, the charity continued to work tirelessly to support individuals across the North East of England, delivering a wide range of wellbeing and creative services that address mental health challenges, loneliness, social isolation and the impacts of the cost-of-living crisis. Our work has remained focused on reaching those most in need, helping individuals to build confidence, strengthen resilience and access essential support around issues such as food, fuel and digital poverty. The Board of Trustees instructed the team to continue supporting as many people as possible within the available resources. However, this year the charity has had to operate within a more constrained financial environment, following a significant reduction in earned income, most notably through the absence of our usual adult education contract to the value of £100,000.

This loss has had an impact on the number of people we have been able to reach this year. Additionally, we were unable to access several one-off grant opportunities that supported our work in the previous year, including the Community Fund’s Cost of Living Fund and The Foyle Foundation. These changes have collectively created a more challenging financial landscape for the organisation.

In response, the Board and senior management team have taken careful and considered steps to reduce outgoings while safeguarding the quality of our services, reducing working hours of paid team members, consolidating role responsibilities and reducing venue costs.

Despite these constraints, we have remained proactive and forward-looking. We have undertaken community consultation work to identify emerging needs and to develop a series of new, innovative project proposals that are currently being refined and submitted to potential funders. This work is helping us to build a sustainable pipeline of future projects, ensuring the continued positive impact of our charity.

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Looking ahead, we anticipate that the coming year’s income will be lower than in previous years as we continue to navigate this period of transition. However, we remain optimistic about the opportunities ahead. We expect local authority tendering to reopen in 2026, and we are preparing to re-engage with this work when the opportunity arises. In addition, we have also worked incredibly closely with the local community to design project proposals, which we have embedded into a number of funding applications.

While the financial pressures have been significant, they have also encouraged reflection and adaptation. The coming year will be one of steady rebuilding, stronger partnership working and renewed focus on the delivery of high-quality, impactful programmes for the communities we serve.

Principle Funding Source

Our main source of financial income originates from a mix of local, regional and national funders, including grant giving Trusts and Foundations. We also secure and generate revenue through a range of activities, including interactive workshops, festive events and by organising arts initiatives for other educational bodies and venues. This diverse approach helps us maintain a steady income while reaching wider audiences through a blended mix of paid for and free to access services. As stated, we did not hold an adult education contract during the financial period, however we are confident that we will return to delivery once the tendering opportunity arises, strengthening the proportion of our funds realised through earned income.

Reserves Policy

The Board of Trustees acknowledge the vital need for the charity’s financial stability and has thus set a benchmark of maintaining unrestricted reserves equal to at least three months of essential operating costs. Working in partnership with the senior management team, the Board has established an objective to incrementally increase these unrestricted reserves each year.

The senior management team remains dedicated to building and strengthening connections with funders, Trusts and Foundations to bolster the charity’s unrestricted reserves. This is and will continue to be achieved through fundraising efforts conducted in alignment with the standards set by the Charity Commission.

Structure, governance and management Governing document

The charity is an incorporated charity, controlled by its governing document, a deed of trust and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The board of trustees are also company directors, per company law and charity trustees per charity law. The trustees are all independent of one another and each bring a different skillset that can be used effectively to grow and oversee the charity. Trustees, both new and existing can undertake training as and when appropriate and we actively encourage trustees to take part in such training.

The charity has a minimum of five trustees.

The board of trustees meets quarterly, with additional meetings scheduled when needed. All votes must be passed by a majority of the board. In the event of a split vote, the Chair will have the deciding vote. All members of the board give their time voluntarily and receive no benefits from the charity.

The Chief Executive Officer is responsible for the day to day running of the charity and operations and is also responsible for ensuring the charity is on course to meet its targets, KPIs and ensuring service delivery provides a public benefit. The Chief Executive Office is supported in this role by the Chief Operations Officer, Marketing Manager, Operations Support Assistant, tutors, teaching assistants and volunteers.

MINERVA ARTS & WELLBEING

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

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

G Ormerod (Chair) J McKay (Secretary) D McGee (Treasurer) L Propcopis L Robinson K Hatfield (resigned 30 June 2025)

The trustees' report was approved by the Board of Trustees on 6 November 2025.

MINERVA ARTS & WELLBEING

STATEMENT OF TRUSTEES RESPONSBILITIES

The trustees (who are also the directors of Minerva Arts & Wellbeing for the purposes of company law) are required to prepare the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the situation of the charitable company and of the incoming funds and assets and also the application of funds and assets, including the income and expenditure of the charitable company for that period. In preparing the financial statements, the trustees are mandated to:

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

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

MINERVA ARTS & WELLBEING

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MINERVA ARTS & WELLBEING

I report to the trustees on my examination of the financial statements of Minerva Arts & Wellbeing (the charity) for the year ended 30 June 2025.

Responsibilities and basis of report

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

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 that in any material respect:

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 financial statements to be reached.

Kathryn Hatfield FCCA Clover Accounting 4 The Pastures Coulby Newham TS8 0UJ

Dated: 6 November 2025

MINERVA ARTS & WELLBEING

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025

Current financial year
Unrestricted Restricted Total Total
funds funds
2025 2025 2025 2024
Notes £ £ £ £
Income and endowments from:
Donations and legacies 2 13,304 - 13,304 4,651
Charitable activities 3 - 99,799 99,799 222,978
Other trading activities 4 56,325 - 56,325 176,497
Investments 5 1,419 - 1,419 363
Other income - - - 10,000
Total income 71,049 99,799 170,848 414,489
Expenditure on:
Charitable activities 6 172,676 109,249 281,925 319,555
Net gains/(losses) on investments - - - -
Net movement in funds (101,627) (9,450) (111,077) 94,934
Fund balances at 1 July 2024 106,143 27,450 133,593 38,659
Fund balances at 30 June 2025 4,516 18,000 22,516 133,593

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

All income and expenditure derive from continuing activities.

MINERVA ARTS & WELLBEING

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025

Prior financial year
Unrestricted Restricted Total
funds funds
2024 2024 2024
Notes £ £ £
Income and endowments from:
Donations and legacies 2 4,651 - 4,651
Charitable activities 3 65,000 157,978 222,978
Other trading activities 4 176,497 - 176,497
Investments 5 363 - 363
Other income 10,000 - 10,000
Total income 256,511 157,978 414,489
Expenditure on:
Charitable activities 6 174,027 145,528 319,555
Net gains/(losses) on investments - - -
Net movement in funds 82,484 12,450 94,934
Fund balances at 1 July 2023 23,659 15,000 38,659
Fund balances at 30 June 2024 106,143 27,450 133,593

MINERVA ARTS & WELLBEING

BALANCE SHEET

AS AT 30 JUNE 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 11 5,254 7,868
5,254 7,868
Current assets
Debtors 12 1,847 4,337
Cash at bank and in hand 17,565 137,982
19,412 142,319
Creditors: amounts falling due within
one year 13 (2,150) (16,594)
Net current assets 17,262 125,725
Total assets less current liabilities 22,516 133,593
Income funds
Restricted funds 14 18,000 27,450
Unrestricted funds-general
Designated funds - -
General unrestricted funds 4,516 106,143
4,516 106,143
22,516 133,593

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for

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

The financial statements were approved by the Trustees on 6 November 2025.

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

Minerva Aarts & Wellbeing is an incorporated charity, registered charity number 1203689 and registered company number 10876786.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, t h e Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies (Continued)

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

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

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

Plant and machinery 20% reducing balance Fixtures and fittings 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.9 Pension

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.

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

2 Donations and legacies
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts 13,304 - 13,304 4,651 - 4,651
13,304 - 13,304 4,651 - 4,651
3 Charitable activities
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
general general
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Grants - 99,799 99,799 65,000 157,978 222,978
- 99,799 99,799 65,000 157,978 222,978

Grants received, included in the above, are as follows:

ts received, included in the above, are as follows:
2025
 2024
£ £
Arts Council -
 2,800
The National Lottery Community Fund -
 55,000
GMBC 25,000
 30,000
The National Lottery Heritage Fund -
 6,448
Sunderland City Council -
 8,256
The Barbour Foundation 30,000
 25,000
Coalfields SIB Neighborhood Fund 13,144
 4,900
The UK Shared Prosperity Fund 16,855
 25,574
The Bernicia Foundation -
 10,000
Garfield Weston -
 20,000
Community Foundation North East -
 10,000
Foyle Foundation -
 20,000
The Sir John Priestman Charitable Trust 5,000
 5,000
The Joicey Trust 2,500
 -
Hedley Foundation 2,300
 -
Gillian Dickinson Trust 5,000
 -

4 Other trading income

Other Other
trading trading
activities activities
2025 2024
£ £
Workshops 53,992 174,553
Rental income 2,333 1,944
56,325 176,497

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Unrestricted
funds funds
general general
2025 2024
£ £
Dividends received - -
Interest receivable 1,419 363
1,419 363
6 Charitable activities
2025 2024
£ £
Depreciation and impairment 4,088 5,103
Wages 175,959 178,023
Pensions 6,870 4,287
Artists costs 893 15,279
Purchases 24,148 16,895
Postage and stationery 1,422 2,017
Advertising 3,542 6,422
Staff training - 1,114
Travel and subsistence 2,414 4,341
Community venue hire 18,007 33,954
237,343 267,435
Share of support costs (see note 7) 43,232 41,334
Share of governance costs (see note 7) 1,350 10,787
281,925 319,555
Analysis by fund
Unrestricted funds – general 172,676 174,027
Restricted funds 109,249 145,528
281,925 319,555

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

7 Support costs
Support
Governance		 2025 Support
Governance		 2024
costs costs costs costs
£ £ £ £ £ £
Rent & rates 12,600 - 12,600 12,600 - 12,600
Insurance 1,982 - 1,982 2,745 - 2,745
Light & heat 5,535 - 5,535 4,503 - 4,503
Telephone 1,777 - 1,777 1,404 - 1,404
Sundries 617 - 617 554 - 554
Bank charges - - - 185 - 185
Cleaning 3,834 - 3,834 2,172 - 2,172
Repairs and renewals 8,425 - 8,425 14,515 - 14,515
Subscriptions 917 - 917 720 - 720
Software 1,142 - 1,142 1,936 - 1,936
Legal and professional 4,127 - 4,127 - 3,947 3,947
Professional fees 3,625 1,350 3,625 - 6,840 6,840
43,232 1,350 43,232 41,334 10,787 52,121
Analysed between
Charitable activities 43,232 1,350 43,232 41,334 10,787 52,121

Governance costs includes payments for the independent examination of £1,350 (2024 - £1,950).

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Staff costs

The average number of employees during the year was 7 (2024: 7).

No employee received emoluments in excess of £60,000.

Key Management Personnel compensation in the year to 30 June 2025 was £103,273 (2024: £97,133)

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

11 Tangible fixed assets

Plant &		 Fixtures & Total
machinery fittings
£ £ £
Cost
At 1 July 2024 15,284 21,474 36,758
Additions - 1,473 1,473
At 30 June 2025 15,284 22,947 38,231
Depreciation and impairment
At 1 July 2024 10,660 18,230 28,890
Depreciation charged in the year 1,156 2,932 4,088
At 30 June 2025 11,816 21,162 32,978
Carrying amount
At 30 June 2025 4,624 3,243 5,252
At 30 June 2024 3,468 1,784 4,624
12 Debtors
2025 2024
Amounts falling due within one year: £ £
Trade debtors - -
Other debtors 839 3,217
Prepayments and accrued income 1,008 1,120
1,847 4,337
13 Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors - 1,086
VAT - 11,546
Other creditors 800 752
Accruals 1,350 3,210
2,150 16,594

MINERVA ARTS & WELLBEING

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds
Balance at
1 January 2023
Balance at
1 July 2024		 Incoming
resources		 Resources
expended		 Revaluations,
gains and
losses		 Balance at
30 June
2025
£ £ £ £ £
Sunderland City Council 850 13,144 (7,994) - 6,000
The National Lottery Community Fund 15,000 - (15,000) - -
The Bernicia Foundation 5,000 - (5,000) - -
Community Foundation North East 6,600 - (6,600) - -
The Barbour Foundation - 30,000 (20,000) - 10,000
Gillian Dickenson Trust - 5,000 (3,000) - 2,000
Other - 51,655 (51,655) -
 -
27,450 99,799 (109,249) - 18,000
15 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Fund balances at 31
December are
represented by:
Tangible assets 5,254 -
 5,254 7,868 - 7,868
Investments - -
 - - - -
Current assets/(liabilities) (738) 18,000
 17,262 98,275 27,450 125,725
4,516 18,000
 22,516 106,143 27,450 133,593

16 Related party transactions

There were no disclosable related party transactions during the year.

In the prior year, expense of £4,375, donations received of £1,493 and workshop income of £47,566 was received from related parties.