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2026-03-31-accounts

Summertown Arts Community Annual Report and Financial Statements Period Ended 31[st] March 2026

Charity registration number: 1213117 CIO registration number: CE039865

Summertown Arts Community

Charity Reference and Administrative Details

Period Ended 31[st] March 2026

Contents
Page
Charity Reference and Administrative Details 1
Trustees’ Annual Report 2-4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of Cash Flows 8
Notes to the Financial Statements 9-15

Summertown Arts Community

Charity Reference and Administrative Details

Period Ended 31[st] March 2026

Charity registration number 1213117
CIO registration number CE039865
Trustees P D Shuter (appointed May 2025)
M C Spring-Rice Pyper (appointed April 2026)
R J Pope (appointed April 2026)
D Sanghrajka (appointed June 2025)
N K Hardyman (appointed May 2025)
P G Street (appointed May 2025)
S B Graham-Jones (appointed May 2025)
S Crow (appointed May 2025)
Registered office 294a Banbury Road
Oxford
OX2 7ED
Independent examiner B Hayes
Wenn Townsend
30 St Giles
Oxford
OX1 3LE

1

Summertown Arts Community

Trustees’ Annual Report

Period Ended 31[st] March 2026

The Trustees present their report and the independently examined financial statements of the charity for the period ended 31[st] March 2026. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

Trustees of the charity

The trustees who have served during the year and since the year end are as listed on page 1.

Objectives and activities

The object of the CIO is the promotion of arts for the public benefit, including, but not limited to, visual arts and crafts, dance, drama, music, film, literature, and poetry through the provision of affordable and appropriate workspace; the provision of space for rehearsals and outreach activities, through participatory classes, courses, workshops, public events, and performances.

What was strange about our first year is that we weren’t able to do any of this work. The year was dominated by attacking, and eventually achieving, our fundraising target. This doesn’t mean to say that these events weren’t going on in the building. They were. Two of our founding trustees, Susie Crow and Peter Street, as part-time employees of the Wessex Trust, were running the building as a base for the arts. For three years they kept the flame alive, safeguarding the interests of existing users and they were even able to increase participation despite the uncertain future of the building. This was vital in building public support and awareness, and demonstrating to potential funders and the community the viability and value if this project going forward Under the umbrella of the Wessex Trust, we occasionally hired spaces for fundraising events, but it is only from 16 May 2026 that we have been able to start putting our plans into practice, to develop Summertown Arts as a vibrant hub for the community, and the arts.

We had one overriding objective this year – to raise the money to secure the building for its use as a centre for arts in the community. That has been achieved. We believe we have also put in place the foundations for the charity to thrive in the future, fulfilling its charitable purpose.

It follows the main activity was fundraising, through work in the community, applications to grant awarding trusts and foundations, including the Summertown and St Margarets Neighbourhood Forum, and events.

We initiated a search for additional trustees to increase the expertise on the board, and this has led to the appointment of two further Trustees from April 2026. This search continues at the time of writing.

Public benefit statement

The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning future activities.

Achievements and performance

By the end of this reporting period, we had raised £865,162. The future of the building had been secured. Of the money raised, £847,663 was restricted for the purchase of the building.

Of this total £603,227 came as grants, £233,907 from our JustGiving campaigns, Corporate and Individual donations, and £28,028 in gift aid.

Size of donations Size of donations
£50,000 or more 5
£5,000 - £49,999 11
Up to £4,999 149
JustGiving
campaigns with
multiple donors		 312

2

Summertown Arts Community

Trustees’ Annual Report

Period Ended 31[st] March 2026

Financial review and Reserves

At the end of this reporting period the charity was in the unusual position of holding £856,646, of which £847,663 were restricted funds for the purchase of the building. By the time of writing we have paid £850,000 for the building, and this level of reserves will not recur. Now we are operating the building, we will aim to build towards a cash reserve of three months running costs.

Plans for future periods

We aim to build a reputation as a vibrant hub for inclusive and growing arts activity, serving not just Summertown but neighbouring areas such as Cutteslowe, Wolvercote, Oxford North and Kidlington which have no dedicated arts spaces, and help to address the general lack of arts working space in Oxford more widely. We will welcome all in to engage with the arts as participants, learners, audience, viewers and neighbours, building a sense of community and providing local access to arts activity for all whatever their age, level of experience or ability, contributing to public creative health and wellbeing. We will provide companies and artists with much needed affordable spaces to develop their practice, create, rehearse, present to the public and share their expert knowledge through teaching and workshops, contributing to sustaining a thriving arts community which can afford to live and practice in Oxford. In achieving this aims we will be meeting our obligation for the charity to provide the public benefit which is its aim.

Plans for the coming year should include works to maintain and improve the building including:

The coming year is a period of transition. We will:

Structure, governance and management

We have no employees, and the charity is run and managed entirely by volunteers, mainly the trustees. No trustee has received any payment.

Conflicts of interest are managed carefully in accordance with the directions of the Charities Commission.

Decisions are taken by trustees in formal minuted meetings.

Some trustees have taken the lead in particular areas – governance, fundraising, artistic affairs, and finance – but as a group we have worked together to cover all the necessary work.

One trustee was appointed during the period, and we were in the process of recruiting two more when the period ended. Our policy is public advertisement in local and specialist media, and our own website and newsletters and through local and wider word of mouth. We hold interviews and are developing an induction package. Trustees have four-year fixed terms and have a maximum of two terms. The initial trustees had a mixture of two to four-year terms to avoid a position where there might be a significant loss of experienced trustees at one time.

3

Summertown Arts Community

Trustees’ Annual Report

Period Ended 31[st] March 2026

Signed on behalf of the board of trustees

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P D Shuter, Chair of Trustees

Date 24[th] June 2026

4

Summertown Arts Community

Independent Examiner’s Report to the Trustees of Summertown Arts Community

Period Ended 31[st] March 2026

Independent Examiner's Report to the Trustees of XYZ Charity

I report to the charity trustees on my examination of the accounts of the charity for the year ended (date) which are set out on pages 6 to 15.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

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

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Signed:

Benjamin Hayes FCA Wenn Townsend 30 St Giles Oxford OX1 3LE

24[th] June 2026

5

Summertown Arts Community

Statement of Financial Activities

Period Ended 31[st] March 2026

Note
Income and endowments from:
Donations and legacies
2
Other trading activities
3
Investments
4
Total income and endowments
Expenditure on:
Raising funds
Charitable activities
5
Total expenditure
Net income / (expenditure)
Transfers between funds
Net movement in funds
11
Reconciliation of funds:
Total funds brought forward
11
Total funds carried forward
11		 2026
Unrestricted
funds
Restricted
funds
Total
funds
£
£
£
17,499
847,663
865,152
1,075
-
1,075
3,568
-
3,568
22,142
847,663
869,805
368
-
368
6,688
-
6,688
7,056
-
7,056
15,086
847,663
862,749
-
-
-
15,086
847,663
862,749
-
-
-
15,086
847,663
862,749

All income and expenditure derive from continuing activities.

6

Summertown Arts Community

Balance Sheet

Period Ended 31[st] March 2026

Note
Current assets
Debtors
9
Cash at bank and in hand
Creditors: amounts falling due within one year
10
Net current assets
Net assets
Charity Funds
Restricted funds
12
Unrestricted funds
12
Total charity funds
12		 2026
£
7,600
856,646
864,246
(1,497)
862,749
862,749
847,663
15,086
862,749

The financial statements were approved and authorised for issue by the Board on 24[th] June 2026.

Signed on behalf of the board of trustees

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P D Shuter, Chair of Trustees

The notes on pages 9 to 15 form part of these financial statements.

7

Summertown Arts Community

Statement of Cash Flows

Period Ended 31[st] March 2026

Note
Cash flow from operating activities
13
Interest paid
Net cash flow from operating activities
Cash flow from investing activities
Interest received
Net cash flow from investing activities
Cash flow from financing activities
Net cash flow from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at commencement date
Cash and cash equivalents at 31st March 2026		 2026
£
853,078
-
853,078
3,568
3,568
-
856,646
-
856,646

8

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

1 Summary of significant accounting policies

(a) General information and basis of preparation

Summertown Arts Community is a Charitable Incorporated Organisation in England / Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed in the Trustees Annual Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

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

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

9

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income is earned through holding assets for investment purposes such as shares and property. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 6.

10

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

(f) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(g) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(h) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(i) Leases

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

(j) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(k) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

11

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

2 Income from donations and legacies

Grants
Individual and corporate donations
Gift Aid		 2026
£
603,227
233,907
28,028
865,162

£847,663 of the above income was attributable to restricted and £17,499 was attributable to unrestricted funds.

3 Income from other trading activities

Fundraising event ticket sales 2026
£
1,075
1,075

Income from other trading activities was entirely attributable to unrestricted funds.

4 Income from investments

Interest - deposits
Income from investments was entirely attributable to unrestricted funds.		 2026
£
3,568
3,568

12

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

5 Analysis of expenditure on charitable activities

Support costs (see note 6) Activities
undertaken
directly
Grant
funding of
activities
Support
costs
Total
2026
2026
2026
2026
£
£
£
£
-
-
6,688
6,688
-
-
6,688
6,688

All of the above costs were attributable to unrestricted funds.

6 Support costs

Governance (see note 7)
Bank fees
Consultancy
Insurance
Recruitment
Rent
Maintenance and repairs		 2026
£
1,250
198
2,707
185
660
752
936
6,688

7 Governance costs

Independent examiner’s remuneration (including expenses and
benefits in kind)		 2026
£
1,250
1,250

13

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

8 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year.

The trustees did not have any expenses reimbursed during the year.

9 Debtors

Other debtors
10
Creditors: amounts falling due within one year
Trade creditors
Accruals and deferred income		 2026
£
7,600
7,600
2026
£
120
1,377
1,497

11 Funds

Fund descriptions

a) Unrestricted funds

Unrestricted funds comprise entirely of funds available for general purpose use by the charity.

c) Restricted funds

Restricted funds relate entirely to the funds raised specifically for the intended purchase of the church premises at 294a Banbury Road, Summertown, Oxford.

12 Analysis of net assets between funds

Cash and current investments
Other current assets / liabilities
Total		 Unrestricted
funds
Restricted
funds
Total
2026
2026
2026
£
£
£
8,983
847,663
856,646
6,103
-
6,103
15,086
847,663
862,749

14

Summertown Arts Community

Notes to the Financial Statements

Period Ended 31[st] March 2026

13 Reconciliation of net income to net cash flow from operating activities

Net income for the period
Interest receivable
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash flow from operating activities		 2026
£
862,749
(3,568)
(7,600)
1,497
853,078

14 Events after the end of the period

On 15[th] May 2026, the charity completed the purchase of the property for which it has been raising funds, for the gross sum of £854,968 including fees and expenses.

15 Related party transactions

There are no related party transactions during the period.

15