Charity Number: 243486
THE MOWLEM INSTITUTE
TRUSTEES REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2025
THE MOWLEM INSTITUTE CHARITY INFORMATION
Charity number 243486 Corporate Trustee The Mowlem Institute Charity Limited Company Directors Mr R Coleman Ms L Dickins CDG (resigned 29 January 2025) Mrs A Etherington Mr N Field Mr J Kessler Mrs D Morley Mr R Nicholson Mr D Sutcliffe Ms J Walton (resigned 21 February 2026) Ms M Barnes (resigned 3 March 2026) Mrs L Potter (appointed 22 July 2025) Mr L Peake (appointed 22 July 2025 and resigned 26 March 2026) Registered Office The Mowlem Shore Road Swanage Dorset BH19 1DD Independent Examiner Christina Moncur FCCA DChA Canopy Accounting 4 Alexandra Mews 70 Langdon Road Poole BH14 9EA
THE MOWLEM INSTITUTE
CONTENT
| Page | |
|---|---|
| Reportof theTrustees | 1 |
| Independent examiner'sreport | 10 |
| Statementoffinancial activities | 12 |
| Balancesheet | 13 |
| Statement of cash flows | 14 |
| Notes to thefinancialstatements | 16 |
THE MOWLEM INSTITUTE TRUSTEES REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees present their report and the financial statements of the company for the 12 month period ended 30[th] September 2025.
Principal Activity
The defined purpose of The Mowlem Institute as set out in the scheme of 1st October 1963 and consolidated in the schemes of 20th February 1973 and 5th September 2011 state:
The Trustees shall appropriate the building specified in the schedule hereto with the appurtenances thereof (hereinafter together referred to as the Institute building) for the benefit of the inhabitants of Swanage and in particular for the use of meeting, lectures and classes or for other recreation and leisure time occupation with the object of providing further education and improving the conditions of life for the said inhabitants.
In addition:
If and in so far as the Institute building is not required for actual use for the purposes of the Charity the Trustees may grant short or occasional lettings of the same or part thereof for any other purpose of benefit to the said inhabitants upon such terms as the Trustees think fit but so as not to impede the use of the same for the purposes of the Charity and may grant other lettings or leases thereof subject to the sanction of the Charity Commissioners.
In all its activities the Trustees have had due regard to the Charity Commission’s guidance on public benefit.
Vision & Objectives
During the period from September 30, 2024 - September 30, 2025, The Mowlem remained firmly committed to our five core values: Welcoming, Inclusive, Collaborative, Relevant, and Trusted. These are an important part of our 2024 updated Business Plan. Guided by these principles, we have continued to pursue our key objectives: to be central to the cultural and community life of Swanage and Purbeck, to enhance mental and social well-being across the community, and to contribute meaningfully to the area’s economic regeneration and growth. Our vision remains unchanged: to be the artistic and cultural heart of Swanage and Purbeck. This vision is clearly aligned with the Arts Council England’s "Let’s Create" strategy and the overarching priorities of Dorset’s Cultural Strategy, as outlined in our business plan.
Income in this reporting period from 1[st] October 2024 to 30[th] September 2025 was £730,469, down from the previous year’s report of £927,254. However it should be noted that this figure represents a 12 month period as opposed to an 18-month period for the previous year, which also included £125,176 in restricted funds earmarked for the refurbishment of the Community Room. So it was another excellent year of approximately 8% growth, resulting in a disappointing loss of £16,504.
In July 2025 we appointed Kate McGregor as our first ever Executive Director. Her impact following her appointment has been both very significant and positive, on programming, staff, fundraising and financial control, all of which we will be reporting in our Trustees Report for the period ending September 30[th] 2026. The process for her appointment was both transparent and thorough and we are grateful to The Arts Development Company for their support and assistance. The final appointment was made after involving both Swanage Town and Dorset Councils and consulting with our staff. The exercise in itself was a positive and strengthening experience.
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THE MOWLEM INSTITUTE TRUSTEES REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
We would like to acknowledge and thank the Dorset Council for their revenue support this year, without which we could not have sustained or made such progress. We also had considerable funding towards the refurbishment of the lift and other capital projects from Swanage Town Council, Waites Foundation, Valentine Trust, Dorset Leverage Fund and others. We also started raising money for our Accessible Lift to Stage, supported by community partners; All Sort’d, Diverse City and Accessible Swanage. It is on these foundations that our future success depends. None of this could have been achieved without the unstinting work of our Fundraising Committee, for which the Trust is extremely grateful.
In November 2024 Robin Sutcliffe was appointed Chair from among the existing Trustees. He undertook to see through the appointment of the Executive Director, the appointment of additional Trustees and the strengthening of relationships with our external Stakeholders and Funders.
During the year we were sad to accept the resignation of Laura Dickinson who had led our fundraising committee prior to July 2025. We would like to extend to her our gratitude for the considerable amount of work they contributed to the development of the Mowlem.
During the year we appointed 2 new Trustees with considerable Arts and Marketing experience to the board. These strengthened key areas of the skill set amongst the Trust.
Programming & Audiences
Our 2024 Audience Development Plan and Community Consultation provided valuable data on who the Mowlem is reaching, and what their needs and interests are thus putting us in a stronger position to develop a responsive programme for future investment. Feedback from our 2024 Community Consultation stated that the Mowlem should be a cultural hub that is welcoming and where accessibility should be prioritised. We have worked to make the necessary changes to directly address the feedback given. Visitors to the building often describe the venue as “unrecognisable” compared to 5 years ago. “There’s a real buzz about the Mowlem now. It’s so exciting for Swanage” (audience member, 2025).
Alongside the recruitment process of the Mowlem’s first Executive Director, the organisation took creative and strategic risks to significantly build relationships with the community and artists. Informed by our 2021 and 2024 community consultations, these developments have led to a growth in audiences across all areas of programming, specifically comedy, live music and theatre, where we’ve partnered with Artsreach, Off the Kerb and local schools to offer a rich and varied programme, informed by our local community. The Mowlem has been proactive in the development of Cultural Purbeck, a collective of organisations dedicated to bringing more cultural offers to Purbeck residents.
Our community impact has been evidenced by our sell-out amateur and local school productions 5 times a year. “When a big show is happening at the Mowlem, the whole town comes to life” (Swanage business owner, 2025). We have increased our reach by hosting local festivals all year round and today much of our work is increasingly embedded in partnership with local diversity groups offering free and reduced tickets to those who experience economic barriers to access. We now host a majority of Swanage’s local festivals at The Mowlem including: Literary Festival, Folk Festival, Blues Festival, Swanage Carnival, Jazz Festival and Purbeck Film Festival.
We have seen 26,709 visits to the Mowlem this year with over 300 events across all arts genres. We’ve continued to explore and expand previously untapped areas such as workshops and participatory programming and continue to explore new ways to bring younger audiences into
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THE MOWLEM INSTITUTE TRUSTEES REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
the Mowlem. The work in our refurbished Studio space has expanded and now offers a range of wellbeing related workshops throughout the week including; yoga, pilates and dance. It also hosts a range of more experimental arts offerings such as new theatre pieces. Our visual arts programme continues to grow in popularity hosting artists for 6-week periods in our 1st floor landing gallery space and in the studio.
We collect data of our visitors through Ticketsource and use Email Octopus to manage our audience database, which enables us to understand our audiences better. Next year will see the transition to a new Spektrix ticketing system, a brand-new website and will join the Audience Agency, enabling us to experience a substantial uplift in data from our audiences.
Equality, Diversity & Inclusion
The Mowlem actively embeds equality, diversity, and inclusion (EDI) into all aspects of its work. We welcome participation from all community members, encouraging volunteers, trustees and performers from diverse backgrounds regardless of disability, ethnicity, gender, age, sexuality, religion, or socio-economic status. Our Business Plan sets a clear goal to increase diversity in programming and community engagement, working with partners such as Diverse City, All Sort’d and Accessible Swanage on a regular basis to inform our programming and engagement. Our EDI policies are updated annually and training for staff ensures that all clients - a recent example being the application of dementia friendly training - are treated with respect and dignity.
Financial Breakdown
The table below shows the split of our ticket sales and the revenue they generate along with the comparisons for the previous year. As well as being a useful management tool, this allows us to identify areas of output that are underrepresented and to respond accordingly and compare in future years.
| Professional Theatre Amateur Theatre Cinema Live Music Comedy Other Festival Hire |
2023-24 (18 months) 2024-5 (12 months) Tickets % Revenue % Tickets % Revenue % 2,937 8.6 30,849 7.9 1,412 5.3 19,507 6.5 8,252 24.2 100,934 25.8 6,550 24.5 79,131 26.4 15,284 44.8 101,735 26.0 9,818 36.6 70,211 23.5 5,019 14.7 101,048 25.8 3,154 11.8 64,863 21.7 1,388 4.1 24,695 6.3 1,699 6.4 25,405 8.5 1,232 3.6 23,604 6.0 4,111 15.4 33,990 11.4 9,100 2.3 6,300 2.1 |
|---|---|
| 34,112 100.0 391,965 100.0 26,744 100. 0 299,407 100. 0 |
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FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Mowlem is a host venue to three festivals where, to date, we have not been able to record visitor numbers; Swanage Jazz Festival hires the complete venue and sells its own tickets for its annual event in July. Swanage Blues Festival and Swanage Folk Festival Fringe arrange for a number of heavily-subsidised bands to perform in our Showbar during the course of the weekend. Wristbands and weekend tickets are sold to festival-goers in advance, and these fund the subsidies with the individual venues paying the difference. We sell no tickets for these ‘walkin’ festivals and in common with other venues in the festival, our revenue is derived from much increased bar sales.
Plans for the Future
In our 2024 business plan we have set our strategic and artistic plans for development over a 5 year period. With our Executive Director in place, we will improve reporting, delivery and artistry across all areas in 2025/6. Funding will be sought to improve both our artistic programme and digital infrastructure, greatly improving the customer experience.
Our mission: To be a creative and inviting hub in the centre of town, providing an inclusive and vibrant programme of arts and entertainment for all.
Values and Vision: continuing to strengthen our relationship with the local community, increasing access to residents and developing a clear and enticing artistic vision.
Artistic priorities: nurturing existing audiences and participants of all ages whilst seeking to develop a programme which embraces and develops new audiences. This includes the development of a wider outreach programme with schools.
Organisational Change: developing our leadership and decision making structures, bringing in new expertise and offering professional development to existing staff.
Finance and Fundraising: increasing the sustainability of our financial model and access to fundraising streams to support artistic and organisational development.
Re-imaging the Building: plans for refurbishment of vital areas of the building including auditorium seating, a more accessible lobby and backstage areas and fixing the roof to reduce energy bills.
Governance: strengthening our Trustee skills base, inviting people with unique expertise to join us and working with an Executive Director to deliver our business plan.
Our Business Plan, Community Consultation and Audience Development documents detail and structure our future plans into achievable outcomes.
Financial Review
Year on year turnover continues to rise, and for the 12-month period ending 30 September 2025, income from charitable activities, donations, and grants increased to £729,741, demonstrating a pro-rata 28% growth on the previous 18-month accounting period (£927,254 from April 2023 to September 2024) and doubling of income from the previous 12-month period (April 2022 to March 2023).
Despite this growth, increased costs meant we ended the year with a small deficit of £17,744 (2.4%) which was funded by cash at the bank. As a result, the unrestricted fund at year end
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FOR THE YEAR ENDED 30 SEPTEMBER 2025
was lower than in previous years. As before, these increased costs were mainly related to maintenance of our ageing building and a higher salary cost. As part of our ongoing development we had budgeted for new staff to deliver growth, and salaries in this period included the first full year of an Events & Marketing Manager and three months of the Executive Director. The investment in these key positions is already starting to bear fruit and we expect to have turned the small deficit into a modest surplus by the time of the next report.
We continue to see recovery from the Covid-related closures, though this process remains ongoing. As of the end of the financial period, an outstanding balance of £9,757 remained on the 'bounceback' loan secured during that time. Repayments to this loan have been paid on time, every time since we took it out, and will continue until it is paid off completely.
Unrestricted funds fell to £47,822 (2024: £88,283) largely as a result of funding the trading deficit and not securing sufficient unrestricted /revenue funding to close that gap.
As we continue to diversify our work, we restrict more of our funding to selected activities and as a result, we held £147,996 against future projects, thus respecting the terms of our funders and the wishes of the Board of Trustees.
Our Endowment fund remains at £661,095. This is the original endowment in the form of the Mowlem’s building, which is effectively a fixed asset and cannot be realised as cash.
Trustee Board
The Trustee Board now meets eight times each year and since the appointment of the Executive Director decisions and control have increasingly been transferred from Trustees to our paid staff, with Programming, Marketing, People and Fundraising being led by our Executive Director supported by Working Groups of Trustees. The Finance and Building Sub Committees continue to be led by Trustees. These are all supported by Job and Finish Working Groups for such things as the appointment of Trustees.
These sub-committees and working groups work to their own time tables as they are needed.
Administration
With a full staff team in place, led by the Executive Director, The Mowlem administrates the organisation effectively. As the business levels have grown, so we increased the hours for our part-time administrator who works with all members of staff to ensure that the office is run effectively and deals with the administrative requirements of suppliers and customers.
We use a number of cloud-based systems to support our administration, including Skedda for room and asset management, Square for payment handling and staff records and Xero for bookkeeping and accountancy. We use Google Workspace to store documents and work collaboratively as well as scheduling meetings.
For most of the period, the trust had a volunteer minute taker to record and distribute meeting notes. She resigned the post in August 2024 pending a move away from Swanage, and the role is currently being undertaken by one of the trustees.
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FOR THE YEAR ENDED 30 SEPTEMBER 2025
Assets & Property
The Charity is fortunate to own the theatre building and the land on which it stands, it having been gifted to the people of Swanage by John Mowlem in 1863.
The land and buildings are valued £121,585 in our accounts to which is added £539,510 and is recorded as an Endowment Fund. These are fixed assets and therefore we cannot liquidise them or use towards any form of revenue or capital investment.
We have made improvements to the building, and although this is recorded as an asset in our accounts, we are unable to spend that sum, just as we cannot sell the building of which the improvements form part.
At the time of the report, we held £147,996 which had been donated to the Charity for specific projects including the Cinema equipment and Lifts; this forms the restricted fund and is unavailable to spend for any other purpose.
Within the building there are 4 lock up rental units – these are all leased out at a market rent on a long-term basis (25 years) to a shop, an ice cream parlour, a café and a bar. These are shown as ‘Investment Properties’. These units cannot be sold nor separated from the building and their value as an asset is not money which we can spend. The value to the Charity of these units is the rental income that they provide and this income forms part of the overall income of the Charity and subsidises and makes possible the operation of the Mowlem.
Reserves Policy
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a. That liquid assets should be maintained sufficient to meet three months’ forward operational expenditure. Since Covid we have been reducing the Covid Loan by £1000 per month, and it is our intention that once this loan is paid off, this sum will be put towards building up our reserve fund.
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b. Capital expenditure commitments are permitted only against agreed lines of funding available for immediate drawdown.
Legal & Administration Details
The official name of the Charity is The Mowlem Institute. The Charity was registered with the Charity Commission of England and Wales on 5 August 1965, charity number 243486. The charity has a dormant corporate trustee The Mowlem Institute Charity Limited. The registered office of the Charity is situated at The Mowlem, Shore Road, Swanage, BH19 1DD.
Our People
The Mowlem has 7.5 full-time equivalent staff, including an Executive Director, Operations Manager, Events and Bar Manager, Bar Supervisor, Marketing Coordinator, Senior Technician, Administrator and Bookkeeper. Throughout the year we ensure that our rates for employees sit in line with industry standard pay rates such as ITC and Equity. We have an annual performance review process for all staff.
Executive Director Kate McGregor has 20 years’ experience in the arts, leading an awardwinning touring theatre company for 13 years and delivering large-scale community projects in the Southwest. She has also worked as a director, producer, writer and educator nationally. Operations Manager Thomas Curtis has worked at the Mowlem for 21 years, overseeing venue operations and technical production. Kate and Thomas form part of our Senior Leadership Team (SLT) along with our Senior Technician and Events Manager.
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The organisation has 11 casual staff working in areas of Front of House and 14 volunteers supporting front of house, marketing, and technical work.
Our Board of 11 dedicated Trustees brings many years of expertise across health, architecture, film, visual arts, law, education, international trade, and marketing. The majority live in Swanage and all are committed to the charity’s vital community role.
Trustees
All trustees are unremunerated and continue to give time to the benefit of consolidating the Mowlem’s strategic objectives, in addition to the time they give to the board.
The following persons served as Trustees during the year:
Mr R Coleman
Ms L Dickins CDG (resigned 29 January 2025) Mrs A Etherington Mr N Field Mr J Kessler Mrs D Morley Mr R Nicholson Mr D Sutcliffe Ms J Walton (resigned 21 February 2026) Ms M Barnes (resigned 3 March 2026) Mrs L Potter (appointed 22 July 2025) Mr L Peake (appointed 22 July 2025 and resigned 26 March 2026)
Volunteers
The Mowlem is supported by a long-standing team of dedicated volunteers. Trustees delegate tasks to the volunteer workforce who engage with the Mowlem in all areas including Front of House, Fundraising, Marketing and in other areas.
Trustees aim to keep an appropriate balance between paid and unpaid roles to confirm Mowlem's objectives. The role of volunteers within the organisation is continuously reviewed.
As our staff and volunteer team grows, Trustee’s time is spent on improving their ability to scrutinise the operational activities of staff and volunteers. Meanwhile, Allyson Williams has been acting in a volunteer capacity as Volunteer Coordinator, to support the workforce and structure and timetable engagement.
Further volunteers are being sought where additional support is required as our programme developments. Trustees take care not to replace paid staff where they are available and affordable
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THE MOWLEM INSTITUTE TRUSTEES REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Structure, Governance & Management
The Trust follows Charity Commission guidelines, HMRC guidance on the “fit and proper persons” test, and the NCVO code for the voluntary and community sector to ensure effective administration.
Upon appointment each trustee is provided with suitable induction material and support. The Trustees meet monthly to agree the strategy and areas of activity of the organisation. The day-to-day administration is delegated to the Manager and staff.
Safeguarding and Health and Safety matters are kept under periodic review at Board meetings.
Risk Management
The Trustees have reviewed the risks of the Theatre. Key risks identified include the state of the building, falling audience numbers, barriers to access and rising energy costs. How and when to mitigate these risks are in constant review at Board level. We have established key working groups involving both Trustees and staff in order to address issues as they arise and prepare for future challenges. For instance, a fundraising working group identifies relevant capital development grants and delivers proposals and applications throughout the year.
It is important to the Mowlem that we ensure that our offer is relevant to the community and that we work in partnership locally to achieve our aims and objectives. This mitigates one of our biggest risks in relation to falling audience and participant numbers which impacts directly on income received.
Fundraising
Our fundraising activities are managed internally via a fundraising committee. This became a working group led by the Executive Director in July 2025, raising funds across 3 key areas: core costs, capital and projects.
Across the year we’ve achieved significant success in securing capital funding from key stakeholders and Trusts and Foundations, which has supported key building refurbishment projects. We have also received support from the community in the form of in-venue donations through Ticketsource add-ons and bucket donations, which have helped to support our daily revenue. We remain fully compliant with GDPR and are registered for Gift Aid to maximise the value of donations.
We received a revenue support grant of £20,000 from Dorset Council in April 2025, which is part of a 3-year initiative, supporting us until April 2027. This allows us to use this as match funding to secure other grants.
In 2025/6 we will launch a new membership scheme allowing better perks and access to those who wish to support the Mowlem in a more substantial way long-term.
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Statement Of Trustees' Responsibilities
The directors of the Corporate Trustee 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). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 102); make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts 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 second edition.
Signed by order of the Trust
Chair:
Treasurer:
N L Field 30 July 2026
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THE MOWLEM INSTITUTE
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025
I report on the accounts of The Mowlem Institute (charity number 243486) for the period ended 30 September 2025, which are set out on pages 12 to 26.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
The charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 145 of the Charities Act,
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to follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and
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to state whether particular matters have come to my attention
Basis of independent examiner’s statement
The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Chartered Certified Accountants.
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
I am qualified to undertake the examination by being a qualified member of Association of Chartered Certified Accountants.
I have completed my examination. In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
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accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records
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the accounts did 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.
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THE MOWLEM INSTITUTE
INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2025
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christina Moncur FCCA DChA
4 Alexandra Mews, 70 Langdon Road Poole, BH14 9EA
30 July 2026
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THE MOWLEM INSTITUTE
STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Notes Income Donations Grants Investment Income 3 Total Incoming resources from generated income Income from charitable activities Theatre and Cinema Kiosk Total income Expenditure Raising funds 2 Charitable Activities Theatre and Cinema 2 Kiosk 2 Total expenditure 4 Net income/(expenditure) Transfer between funds Net movement in funds Balance brought forward at 1 October 2024 Balance carried forward 30 September 2025 12 |
Unrestricted Funds Restricted Fund Endowment Fund Year ended 30 September 2025 Period ended 30 September 2024 Total £ £ £ £ £ 48,049 26,204 - 74,253 83,996 20,000 37,487 - 57,487 93,810 60,053 - - 60,053 74,685 |
|---|---|
| 128,102 63,691 191,793 252,491 338,761 6,942 - 345,703 425,582 192,246 - - 192,246 249,181 |
|
| 659,109 70,633 729,741 927,254 |
|
| 72 - - 72 817 540,511 47,414 502 588,427 643,298 158,987 - - 158,987 188,114 |
|
| 699,570 47,414 502 747,486 832,229 |
|
| (40,461) 23,219 (502) (17,744) 95,025 - - - - - |
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| (40,461) 23,219 (502) (17,744) 95,025 88,283 124,777 661,597 874,657 779,632 47,822 147,996 661,095 856,913 874,657 |
All recognised gains and losses during the year are included in the Statement of Financial Activities. All the activities of the charity are classed as continuing. The notes on pages 16 to 26 form part of these financial statements.
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THE MOWLEM INSTITUTE
BALANCE SHEET FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Notes Fixed assets Tangible Assets 7 Investments 8 Current assets Debtors 9 Inventory 10 Cash at bank Current liabilities Creditors: amounts falling due within one year: 11 Net current assets Bank loan Net assets Represented by: Endowment Funds Restricted Funds 12 Unrestricted Funds Total funds |
2025 2024 Unrestricted Funds Restricted Fund Endowment Fund Total Total £ £ £ £ £ 55,444 82,096 121,585 259,125 295,381 - - 539,510 539,510 539,510 |
|---|---|
| 55,444 82,096 661,095 798,635 834,891 11,153 25,000 - 36,153 19,350 6,549 - - 6,549 9,948 20,100 53,097 - 73,197 67,351 |
|
| 37,802 78,097 - 115,899 96,649 45,424 12,197 - 57,621 47,126 |
|
| (7,622) 65,900 - 58,278 49,523 |
|
| - - - - 9,757 |
|
| 47,821 147,996 661,095 856,913 874,657 |
|
| - - 661,095 661,095 661,597 - 147,996 - 147,996 124,777 47,822 - - 47,822 88,283 47,822 147,996 661,095 856,913 874,657 |
These accounts have been prepared in accordance with the provisions applicable to charities. On behalf of the Board of Trustees: Chair: Treasurer:
D R Sutcliffe N L Field 28 July 2026 28 July 2026
The notes on pages 16 to 26 form part of these financial statements.
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CASHFLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Notes Cash flows from operating activities: Net cash provided by (used in) operating activities Cash flows from investing activities: Purchasing of tangible fixed assets Dividends, interest and rents from investments Net cash provided by (used in) investing activities Cash flows from financing activities: Repayments of borrowings Net cash provided by (used in) financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period |
2025 £ (7,216) 3 |
2025 £ 13,062 (7,216) - 5,846 67,351 73,197 |
2024 £ (83,603) 3 |
2024 £ 99,971 (83,600) 16,114 32,485 50,980 |
|---|---|---|---|---|
| - | 16,114 | |||
| 67,351 |
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THE MOWLEM INSTITUTE
CASHFLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Reconciliation of net income/(expenditure) to net cash flow from operating activities 2025 2024 £ £ Net income/(expenditure) for the reporting period (as per the statement of financial activities) (17,744) 95,025 Depreciation 43,472 42,283 Interest received - (3) (Increase)/Decrease in debtors (13,404) (7,942) Increase/(decrease) in creditors 738 (29,392) Net cash inflow from operating activity 13,062 99,971 Analysis of cash and cash equivalents 2025 2024 £ £ Cash at bank and in hand 73,197 67,351 73,197 67,351 Analysis of changes in net debt As at 1 October 2024 Cash flows Other non- cash changes As at 30 September 2025 Cash and cash equivalents Cash 67,351 5,846 - 73,197 Cash equivalents - - - - Overdrafts - - - - 67,351 5,846 - 73,197 Borrowings Loans falling due within one year (9,970) - - (9,970) Loans falling due over one year - - - - (9,970) - - (9,970) Total 57,381 5,846 - 63,227 |
Reconciliation of net income/(expenditure) to net cash flow from operating activities 2025 2024 £ £ Net income/(expenditure) for the reporting period (as per the statement of financial activities) (17,744) 95,025 Depreciation 43,472 42,283 Interest received - (3) (Increase)/Decrease in debtors (13,404) (7,942) Increase/(decrease) in creditors 738 (29,392) Net cash inflow from operating activity 13,062 99,971 Analysis of cash and cash equivalents 2025 2024 £ £ Cash at bank and in hand 73,197 67,351 73,197 67,351 Analysis of changes in net debt As at 1 October 2024 Cash flows Other non- cash changes As at 30 September 2025 Cash and cash equivalents Cash 67,351 5,846 - 73,197 Cash equivalents - - - - Overdrafts - - - - 67,351 5,846 - 73,197 Borrowings Loans falling due within one year (9,970) - - (9,970) Loans falling due over one year - - - - (9,970) - - (9,970) Total 57,381 5,846 - 63,227 |
Reconciliation of net income/(expenditure) to net cash flow from operating activities 2025 2024 £ £ Net income/(expenditure) for the reporting period (as per the statement of financial activities) (17,744) 95,025 Depreciation 43,472 42,283 Interest received - (3) (Increase)/Decrease in debtors (13,404) (7,942) Increase/(decrease) in creditors 738 (29,392) Net cash inflow from operating activity 13,062 99,971 Analysis of cash and cash equivalents 2025 2024 £ £ Cash at bank and in hand 73,197 67,351 73,197 67,351 Analysis of changes in net debt As at 1 October 2024 Cash flows Other non- cash changes As at 30 September 2025 Cash and cash equivalents Cash 67,351 5,846 - 73,197 Cash equivalents - - - - Overdrafts - - - - 67,351 5,846 - 73,197 Borrowings Loans falling due within one year (9,970) - - (9,970) Loans falling due over one year - - - - (9,970) - - (9,970) Total 57,381 5,846 - 63,227 |
Reconciliation of net income/(expenditure) to net cash flow from operating activities 2025 2024 £ £ Net income/(expenditure) for the reporting period (as per the statement of financial activities) (17,744) 95,025 Depreciation 43,472 42,283 Interest received - (3) (Increase)/Decrease in debtors (13,404) (7,942) Increase/(decrease) in creditors 738 (29,392) Net cash inflow from operating activity 13,062 99,971 Analysis of cash and cash equivalents 2025 2024 £ £ Cash at bank and in hand 73,197 67,351 73,197 67,351 Analysis of changes in net debt As at 1 October 2024 Cash flows Other non- cash changes As at 30 September 2025 Cash and cash equivalents Cash 67,351 5,846 - 73,197 Cash equivalents - - - - Overdrafts - - - - 67,351 5,846 - 73,197 Borrowings Loans falling due within one year (9,970) - - (9,970) Loans falling due over one year - - - - (9,970) - - (9,970) Total 57,381 5,846 - 63,227 |
|---|---|---|---|
| 99,971 | |||
| 2024 £ 67,351 |
|||
| 67,351 | |||
| As at 30 September 2025 73,197 - - |
|||
| 67,351 5,846 |
- | 73,197 | |
| (9,970) - - - |
- - |
(9,970) - |
|
| (9,970) - |
- | (9,970) | |
| 57,381 5,846 |
- | 63,227 |
15
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1 Accounting policies
1.1 Basis of the preparation of accounts
The financial statements have been prepared under the historical cost convention, with the exception of listed investments which are included at their market value. The financial statements have been prepared in accordance with the Charity Commission Statement of Recommended Practice - 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 (effective 1 January 2019).
The Trustees confirm that the Charity is a public benefit entity as defined by FRS 102.
The accounts have been prepared under the historical cost convention. The financial statements are prepared in pounds sterling, which is the functional currency of the charity.
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.
The Charity is a public benefit entity. The accounting policies have been applied consistently throughout the accounts and the prior year.
The charity has taken the exemption provided in Update Bulletin 1 updating Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) allowing small charities not to prepare a cash flow statement.
1.2 Fund accounting
1.2.1 Unrestricted Funds
These funds can be used for any of the charity's purposes.
1.2.2 Restricted Funds
These funds have been given to the Trust for a particular purpose to be used in accordance with the wishes of the donor.
1.2.3 Endowment Funds
This fund relates to the land and building donated to the Charity and which can be used for charitable purposes as set out in the Trust deed.
16
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1.3 Depreciation
Items are capitalised that cost over £1,000 and have an ongoing value in use to the charity.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost of each asset over its expected useful life as follows:
Computers, furniture and other equipment: 25% straight line
Cinema and theatre equipment: 20% straight line
Fixtures and fittings: 10% straight line
Land and buildings: Land not depreciated Buildings depreciated over 75 years
Refurbishment costs: Boilers - 10 years, Seating - 25 years, Windows - 15 years for opening doors and windows and 30 years for other windows, Projector - 20 years, Cinema Screen and bar ventilation - 10 years, Lift - 15 years, Equipment – 5 years, Furniture – 3 years
1.4 Income
Donations, gifts, legacies and similar incoming resources are accounted for when receivable, which is when the Charity becomes entitled to the resource.
Gift Aid reclaimable on donations to the Charity is included with the amounts received.
Investment income, represented by bank interest and shop and restaurant lettings is credited to the Statement of Financial Activities on a receivable basis.
Income from theatre and cinema admission fees is included in incoming resources in the period in which the relevant performance takes place. Where a series of productions straddles the end of the accounting period the income is recognised in the period in which the majority of the performances take place. Income related to productions or lettings in a subsequent period is treated as deferred income.
Income from commercial activities is included in the period in which the activity takes place.
Gifts in kind have been realised at cost.
17
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1.5 Expenditure
Expenditure is recognised when a liability is incurred.
Costs of raising funds are those costs incurred in attracting donations and those incurred in the operation of trading activities that raise funds.
Charitable activities include expenditure associated with the operation of the theatre and such directly associated activities as touring and educational programmes. Cost of charitable activities include both the direct cost of activities and related support costs.
Support costs include central functions and have been allocated to activity costs on a basis consistent with the use of resources. This is on the basis of the relative proportion of direct costs incurred.
Governance costs are the costs incurred in the governance of the charity and associated constitutional and statutory requirements. These costs are allocated between the charitable activities.
Where performances of a production straddle the balance sheet date, production costs are allocated to the period in which the greater number of performances fall, this matches the allocation of income to related productions.
1.6 Investments
The Statement of Recommended Practice requires investments to be stated at market value. The investments of the Mowlem Institute consist of commercial shop and restaurant units within the Mowlem building.
1.7 Financial Instruments
The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period, basic financial instruments are recognised at amortised cost. For debt instruments this is calculated using the effective interest rate method.
1.8 Critical estimate and judgements and key sources of estimation uncertainty
In the application of the Charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision effects both current and future periods.
18
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
2. Analysis of Expenditure
| Direct Costs Cinema costs Live performances costs Showbar costs General Theatre costs Investment property costs Fundraising costs Support Costs Staff Costs Legal Fees Building Maintenance Rates and services Other Costs Irrecoverable VAT Depreciation |
Raising funds Theatre and Cinema Investment costs Total 2025 Raising funds Theatre and Cinema Investment costs Total 2024 £ £ £ £ £ £ £ £ - 51,696 - 51,696 - 53,360 - 53,360 - 124,391 - 124,391 - 169,294 - 169,294 - 90,857 - 90,857 - 113,639 - 113,639 - 22,501 - 22,501 - 28,132 - 28,132 - - - - - - - - 72 - - 72 817 - - 817 - 270,973 - 270,973 - 268,532 - 268,532 - 26,049 - 26,049 - 24,664 - 24,664 - 37,402 - 37,402 - 57,491 - 57,491 - 35,640 - 35,640 - 48,882 - 48,882 - 22,481 - 22,481 - 25,167 - 25,167 - 21,952 - 21,952 - - 42,970 502 43,472 - 41,498 753 42,251 72 746,912 502 747,486 817 830,658 753 832,229 |
|---|---|
19
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 3 | Investment income | ||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| Rental of ground floor shop units | 60,053 | 74,685 | |
| 60,053 | 74,685 | ||
| 4 | Net income | 2025 | 2024 |
| £ | £ | ||
| Net income for the year is stated after charging/(crediting) | |||
| Independent examination | 1,750 | 1,050 | |
| Depreciation | 43,472 | 42,283 | |
| 5 | Staff costs | 2025 | 2024 |
| Average number of employees during the period | 15 | 10 | |
| Employees earning between £60,000 and | |||
| £70,000 | - | - | |
| 2025 | 2024 | ||
| £ | £ | ||
| Staff costs : | |||
| Wages & Salaries | 248,072 | 259,758 | |
| Social security costs | 16,398 | 3,102 | |
| Pensions and other Staff Costs | 6,503 | 5,672 | |
| 270,973 | 268,532 |
6 Related party transactions and trustees remuneration
Trustees received no emoluments (2024: £nil) during the year.
3 Trustees made donations of £30,000 during the year (2024: 3 trustees donated £19,724).
During the year the Trustees are not aware of any other related party transactions.
20
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
7 Tangible Fixed Assets
| Cost Brought forward 1st October 2024 Additions Disposals At 30 September 2025 Depreciation: Brought forward 1st October 2024 Depreciation - disposals Charge for the year At 30 September 2025 Net book value At 30 September 2025 At 30 September 2024 |
Land and Buildings Equipment Refurbishment Total £ £ £ £ 150,700 164,320 240,369 555,389 - 7,216 - 7,216 - - - - |
|---|---|
| 150,700 171,536 240,369 562,605 |
|
| 28,613 59,706 171,689 260,008 - - - - 502 27,935 15,035 43,472 |
|
| 29,115 87,641 186,724 303,480 |
|
| 121,585 83,895 53,645 259,125 |
|
| 122,087 104,614 68,680 295,381 |
None of the above fixed assets are used for direct charitable purposes but all are used to support charitable activities.
21
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
8 Investments
| Investments | |
|---|---|
| Ground Floor Shop Units | 2025 2024 £ £ 539,510 539,510 |
| 539,510 539,510 |
The trustees have considered the valuation at 30 September 2025 in light of rent collections continuing to be strong, therefore, the trustees do not consider there to be a material impairment at this time.
9 Debtors
| Trade debtors Prepayments & accrued income 10 Inventory Kiosk stock 11 Creditors: Amounts falling due within one year Bounce back loan Accounts payable Tax and social security Other Creditors Accruals & Deferred Income |
2025 2024 £ £ 28,892 12,634 7,261 6,716 |
|---|---|
| 36,153 19,350 |
|
| 2025 2024 £ £ 6,549 9,948 |
|
| 6,549 9,948 |
|
| 2025 2024 £ £ 9,970 10,620 18,147 13,494 14,306 11,593 - - 15,198 11,419 |
|
| 57,621 47,126 |
22
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
Creditors: Amounts falling due in
| Creditors: Amounts falling due in | |
|---|---|
| 12 more than one year Bounce back loan |
2025 2024 £ £ - 9,757 |
| - 9,757 |
13 Movement in funds
| General Fund Restricted Fund Building projects Community Room Big Give Accessible Lift Sound Processor Lift Roof A Night At the Mowlem Endowment Fund Charitable building Investment property |
Balance @ 01/10/2024 Income Expenditure Transfer Balance @ 30/9/2025 88,283 659,109 (699,570) - 47,822 38,099 1,471 (16,605) - 22,965 74,590 - (15,605) - 58,985 12,088 - (11,398) - 690 - 16,092 - - 16,092 - 27,500 - - 27,500 - 17,487 - - 17,487 - 679 - - 679 - 7,404 (3,806) - 3,598 |
|---|---|
| 124,777 70,633 (47,414) - 147,996 122,087 - (502) - 121,585 539,510 - - - 539,510 |
|
| 661,597 - (502) - 661,095 874,657 729,742 (747,486) - 856,913 |
23
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
14 Statement of financial activities comparatives
| Income Donations Other trading Investment Income Total Incoming resources from generated income Income from charitable activities Project grants and contributions Education Total income Expenditure Raising funds Charitable Activities Theatre and cinema Kiosk Total expenditure Net income/(expenditure) Transfer between funds Net movement in funds Balance brought forward at 1 April 2023 Balance carried forward 30 September 2024 |
Unrestricted Funds Restricted Fund Endowment Fund 2024 Total £ £ £ £ 52,775 31,221 - 83,996 - 93,810 - 93,810 74,685 - - 74,685 |
|---|---|
| 127,460 125,031 252,491 425,582 - - 425,582 249,181 - - 249,181 |
|
| 802,223 125,031 927,254 |
|
| 817 - - 817 612,468 30,077 753 643,298 188,114 - - 188,114 |
|
| 801,399 30,077 753 832,229 |
|
| 824 94,954 (753) 95,025 - |
|
| 824 94,954 (753) 95,025 87,459 29,823 662,350 779,632 88,283 124,777 661,597 874,657 |
24
THE MOWLEM INSTITUTE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
15 Balance sheet comparatives
| 15 Balance sheetcompar | **atives ** |
|---|---|
| Fixed assets Tangible Assets Investments Current assets Debtors Inventory Cash at bank Current liabilities Creditors: amounts falling due within one year: Net current assets Bank loan Net assets Represented by: Endowment Funds Restricted Funds Unrestricted Funds Total funds |
2024 Unrestricted Funds Restricted Fund Endowment Fund Total £ £ £ 74,764 98,530 122,087 295,381 - - 539,510 539,510 |
| 74,764 98,530 661,597 834,891 19,350 - 19,350 9,948 - - 9,948 29,047 38,304 - 67,351 |
|
| 58,345 38,304 - 96,649 35,069 12,057 - 47,126 |
|
| 23,276 26,247 - 49,523 |
|
| 9,757 9,757 |
|
| 88,283 124,777 661,597 874,657 |
|
| - - 661,597 661,597 - 124,777 - 124,777 88,283 - - 88,283 88,283 124,777 661,597 874,657 |
25