RF.GISTF,RF.D COMPANY NUMIIFR: 01029563 (Eiigland And W#lL%) REGISTERED CHARITY NUMBER.. 263367 Report of the Trusttts &nd FiN#nel#l Sithttmenls for the YeAr Endod 3151 Dettmber 2011 for Oxmarket Cenlrc of Arts Limilt 8he¢n Stickland Clmrtercd Accouniants ? Last Pallant Chichester Wesl Sussex Polg I'I'R
OxtTharket Ccntrc of Arts Limittd Cuntcnls of tlie FinaiiciAI stAteents for the Year F.nded 31st D¢ecmb¢r 2023 PAge Report of the I'r115tees IiidepeNdellt Examiner's Rert Stulemeiit of Finaiicial A£livities BAIAnce Slieet N()tts to the Finnneial Stat¢ments DetAlleil Sl#tement of FinanciAI Activities 16 u) 17
Oxmarket Ceiitre of Arts Limiied Fieiiort of tlle Trustecs (or Ihe Yed?r F.ndcd 3151 December 2023 OBJEcfivES AND ACTIVITIES Our aim5 xiid objectives Tlie Coinptiny ]% a I'ebFlStered chic rrly. Its objecis and regulaiions c1re regiulaied by the ¢omp1c ny's Mernorai)diiin and Articlc8 of Ao¢latIo11. The ¢ompaTry's objeLts are Ihat of tlie lldvttnLemeni. education. improveineni and <ippreciatioti of (he Aris for (he benefii of Ihe public. In settinuj 4Jur annu1c l objectives and planninbp our activities, the Dire¢tUTS I)cive givLn con4ideraii()n to tlie Chariiy Commission's guidance on public Ixnefit and fee charbiiny. This Is c2chiev¢d by niainlaining and opcratinL7 an ans cenire for ¢xhibitlOll5 and r¢knied aciivirie5 and givingy careful con5idenLion to acce&qibility ot. the cenire in seirinbj the Icvel orrees and charb)es. ACHIF.VEMENT AND PFRFORMANC A¢hi¢v¢ni¢nls and P¢rtormance 2023 was a 511CCtr55ful and busy ye£1r for ihe ballery wilh a varied and packed 5chediile of exhibitions and iiew stsiff juiniiigv 115. W¢ liosled 35 exhibiiion5 in total. includinb those for Ihe W1nrS ol our 0[n Conipeiilion in 2022. We welLomed tk1ck number of g?roup exhibitors irKludiii& Cliich¢ster Art Trdil. Chichesier Art Sl¢ty, the Society of Desibpi)¢r Craftsinen. Emsivorth Priniers. Artel. Focus Photobirdphy aDd a number of popular local artists includinb Caiheriiie Barnes. Fiona Bell CuTrie, Lynne Wood% Emina Hartley, Amanda Word Thomas and Martiii Stnith. We curared fundni5ingy cxhihition, Kecp Art Alive. which promoied a number of new lo¢al artists 41nd we 110sled a speci(11 exliibilion f&11thrin& Chichester Univeisity Finc Arts bTradu(ites which was brilliantly cllrat¢d by one ol. the stiident8. In addition, wc h#d three sponsored exhibiiions promotingr artisis from attsund ihe SoLiih coasi incllldinb Fergus I lare and Nick Carrick we ar¢ immonsely Lvfdteful to those swnsors. We are dcliglilcd lo have welcomed ts nuTnber of new artists 10 Ihe gallcry for exhibilioiis includiiik Neil Holllind, Loiiise t)UbgTtLll, Kobin Richardson. I'risctlla Ritchie. Cl)ri5toph¢r Villicts. Ilarry 1rdIll, Tim Mullins. Samanihcl P¥l111114in, Jan B¢iin¢lt, Loiiise Burstoll nd Maiihew Rollinson. We are working hurd on encoiirabjinsv artists io prixluce exhibilion5 that 10 the visitor cxperiei)ce incliidinb dginonsirations, poetry readings lid musi¢al accompaniment. In addition lo workiTrLT on exhibitions for 2023. we have iaken bookings for 2024 and beyond. The sh(v, run by the wholly owned tradinui company. makes art ownetship more accessible and affordable for a wider audience by orrering a selection of higyh quality. distinctive and affordable handinade &iifts and works of ari. The bii.%iness model htL% gyonc throubih a peri(xl of tsansiiion this year as it moves more 10 acting as an agyent Igr ¢1)¢ sale of arlisis, oiiipiii rather ihc1n buying siock and Te5¢11ing it. While the shop made a small loss in 2023. we aiicicipate a PO811ivc contribution to thc chariiy in 2024 wiih ihe new bu5inc&s m¢xl¢l. OUT new staff are now well established in their roles and are rnakin¥ ll great £oniribuiion to the opeimtion% of the biallery and its ¢xliibitioiis. We Iiad a surgv¢ in volunieers of very high libre who are able and willinsi 10 l)elp in a LTrrealer variety of tx)les lind tliis helps ermirmoiisly 10 deliveringy su¢h a full and vaiie(I schedule of exhibitions. We will continue lo seek more voliinieeis as ihis will help us to undei1ake more aciivities and will also provide Inore w)portunities for diff¢rcnl sectors of tlie ¢ommiinity 10 participate in volunteering. W¢ ve eStlbIlShed clo%e ii ssociations with Chichcster University and Chicheer CollegFe *U]11n&tr in Ly)ili students of arts vigilingF (he bjallery and also havinbF the opportunity to undenakc WOTk ¢xrIence with the balkry. Chall¢ngT¢S facin& the ballery lorward include the coniinucd squ¢¢7£ Inany household budgleis duc to iiicrea8c% iii ilie C5( ol- livinki lind coIire1115 aboiil declininb footfall in cily cenires. To coiinler Ihi_s we ar¢ wgrkiiig h<ird ai pIDniotiiig the bTallery aiid its free entry and by trying (o Inake exliibitions Inore ol. an exp¢ri¢iice for visilols. We will l%0 en.%iire (hat Ilie an we feattir¢ coniinues io be arrordable and acc¢5sible to much of the community as p05sibl¢. Pak1e I
Oxmxrktt Centre of Arts Liniilril Rcport of the I'rii%l¢¢ for the Year I,'nded 3 1st December 2023 FINANCIAL REI VIEW Financial I'ositioii Tlie ov¢rall delicil for the year ended 31 tkcember 2023 was £7.093 12022.. deficit £1 5.9731. l.low¢vor, this includLS depircialion ()f £32,184 which dl$ noi contribute 10 the cash flow ol. the company. 'Ilie opcnting Slirplus of IhL ehariiclble compaiiy, excluding deprlatIOn was £25.091 12022". £16.802). Ai 31 tkc£inber 2023. total overall funds kiiiiouiIILd io £239,341. T011c l unresiricied fund5 include de5iy)aled lunds of £95.761. Oiir financial report shows a d¢fi¢it for ihe 2021 year after cl)argies for depreciation. Cash and reserves reiiiain iiiider pressiire but kire ac(ively moniiored by ihe Board arKI are Teport¢d ¢lsewher¢. We Ilre looking io rdise fiinds over Next few y¢ar5 to replenish the reserve5 both in anlicipaiion of ongioili1 repairs nd impTov¢m¢nt.4 to Ihe fabric of Ihe premise5 bui also to improve th¢ chariiy's resilience in Ilie face uf econoInic risks. We Iiim io Sib>niliccintly increi15e the rntc ijf visitor and member donlOn& &7ift aid rKovery. dctess addiiional sourcls (Trl- g7rants aiid incrLiL se tlie coniribution made by Ihe iradingy compAny io the charity. Ile5erve5 poliey -I'lie Eloard lias established a w)licy whereby the unresiricieil funds not TMilled or invested in iangyihlc fixed asse(s lield sl)oiild be 6 Inonths of the resources expended. which equaies 10 £60,(XK> in LicnerAI funds. Ai present reserves held hiE ve lallen sligThtly below this minimum and efforts are und¢rway to replenish ihesc funds. FUTURE PLANS Future plcins to continue the delivery of charithble objects (within a framework of manabied costs, Inaintenance or prtinise% and appropriciie finiincial pnJden¢¢) incliide proaclively ideniifying l(Kal and einerbyinbj aMisLS. l)elping> tlieni shc1pe their artisiic offerin&5 promoiinbw iheir presence lo the coinmunity. STRUC.TURE, GOVV,RNANCE AND MANAGEMENT Governiiig (loeiiment Tlie ch47riiy is gioverned by it5 McmoTrndum nd Anicles of Association and consiiwies a liiniied company, lin)iied by TLi4raiitee, a5 defined by the Companies Act 2006. Recruitment and appointmenl of new truslics Tlie rrLlStees ale ele¢ied al tlie A Trnual Oenernl Meetin8 of the cornpany as sei out linder the teTrnS nf IhL Ariiclcs or AssocidliiTrn. There arc (1 Inaximuin of 20 iruslees with one-third reiiring froni ofYic¢ < every, Annual General Me¢tinL. Tlie direciors of the coinpany e a subset oftlie Irust¢¢s. The Article5 sei out a quoruni of .$ directors. Martyn BLII has beeii coopted tts Ihe board io maintain tlie quorum. Structurc, Govcrnan¢t Management There wcre a numbLf of changTCS tu tlie Board nd trustees in 2023. Mark Schwar4 Robert Gowing and Jackie ljl<ickmcin %ieppcd down from the Board due to work 1nd oiher commitments the Tjtasuier {Jonaili£in Clark) and tlie long151lc ndinb Chair (Sophie Ilull) rctirtd. We are irnmcnsely brni¢ful io tM all for tlieir SUPPOTI ov¢r (he yr9, e5peci¢illy to Sopliie l.lull for her tireless commitm¢ni over 7 ye1( TS and io Jonail)QD Clark for his ivork in esii£ blishin n¢w linanci<11 c1nd bioveniance procedure5. A niimbei. of new Trustees joined the Board incliiding Stephen Smitli a5 'frea5urer. Jonatl)an Bell. Becky 141¢ rris and Martyn Bell. Iln existing irust¢e, has rejoined the Board for 2024. Tracie Baiigen has IK¢i)me a trustee and we havc recruited two more Irll%iees wlio will be joininkT in 2024. Tlie 14oard meets 4 times a Ye1 r 47nd uliimale resliS1b1lIiY for directing tl)e affairs of d)e bollery. ens111'lllgl It 15 solvent, wcll-run and dcliveringj the ou(comes for which the charity wa5 established. Louise Myle5. Acting> Chllir REFERENCE AND ADMINISTRATIVE DF.TAILS Re&FlStered Conip#ny numb¢'r o ia29503 IEI)glJc nd and W(iles) PabTe 2
Oxm#i'kct Centre of Arts Liniite(I Repibi't ol. Ilie Tru51ec5 for th¢ Year Eiidcil 31st Dec¢inbcr 2U23 Regi5t¢r¢d Cliarity liulber 263367 R¢gistered office St Andrews Couri OfTEllst 8irc¢t Chicliesier Wesi Sussex P019 IYFI Tritee5 [_ A Myles S R Smiil) lappoint¢d 9.11.231 J D J3¢11 (appointed 9.11.231 1£ E Hc1rris lapTK>inled g.11.23) M J Bell (appointed 22.1.24) S D G Hull Iresis7ned 31.10.23) M Schwarti {J'esi&Tn¢d ?3.3 ?3) J Blackmail {resigTiied 26.2.?3) J Clark Iresiuined 4.1.24) R {Tesi¥ined JO.9.23) The Directors llre also tru8t¢C5 of the charity. Three new trustees are s&inding for appointmeni ar the urcoming ACJM. Indtpenilent F.xXmiCr l) L l-l WrigTrhi FCA IKIIA Sl)eei) Siickland Chartered Accountants 7 knst Pci Ilant Cliich¢sler Wesi Sussex P019 ITR SMALL COMPANY F.XEMwfioNS The <lbove report hcts been prepared in Kcord4n¢¢ with the special prnvisions of Part 15 of ille Conipanies Act 2006 rclJiin&T 10 small cnmpanies. Approved by Oler ol-the board of tnjstees on . Trrt.. 1 19.. ¢WMJ signed on lis behalf by.. ILLM L A Myles - Tru ee P?ge 3
Inilepen(lent f4.x#miner'8 Rcport lo thc Trustee5 of ()¥market Cenii'c of Arts Limite(I liidependent examiiier's report to ¢lie Irusiees ofoxm#rktt Ccntre ofArts Limited ('the Comp#iiy') r¢port lo tlie vhi?riiy Insiees un Iny ex1<rnin1<lion ol- Ilie accounts ol. Ili¢ Company for Ihe year ended 31si December ?023. R¢5ponsibilities Hnd basis of report As the cliciriiy's irUse5 ol'the Company14111d Hlso its diTeC(Dr5 for the purposes ufcomp4Uiy luwl yuii are iesp(Trnsiblt for Ihe pr¢piif&11iuii gf the aLcounts in accordance wirh the requireinenL8 ol'ihe Cthnp1( nies Aci 2006 (the ?006 Act'l. H1( vin&1 &itislied tnysell. Iliat IhL i)Ltuunls of thc Compa]iy arc noi reqiiired 10 ¢iiidited undcr Pgrt 16 of tl)c 2(KI6 Act and lire LliLJiblc foi independent examination. I report in res¢1 of my examinaiion of your charity's accounts s carried oiit under Seciion 145 of tl)e Ch1( riiies Act 2011 (Ilie 2011 Acl'l. In caryinLT OILt rny cxamination I Iithve foll()wcd Il)e Directions gFiven by the Chlc riiy Commission undcr 8ection 145{51 (bl of the 201 l Act. Independent ex#miner's stAtcrneNt I have coiiipleicd my examiii¢l1ion. I confimi that no mailers have come to my aiieniion in coni)eciion will) the Lxaminatloll biivinbj Ine Cc1use 10 believe.. accoiintingi records were not kepl in respeci ofihe Company as required by Section 386 ofthe 2006 Act: or the accoiin15 do not accord with ihose records: or Ilie accounts do not ¢omply with the accouniing) reqiiirements of Section 396 of the 2006 Acr oiher Ihai) aiiy requireineni thai the accounis bjive a inje and fair vaeiy wliich is nol a maii¢r considered as part ol-an independeni exyininulioii., or Il)e 1cccounis have noi been prepiired in 1cccordance wilh the meih(Mls and principles of Il)e Siciieinei)i of Recomimended PraLtiLe li)r uccountlllgF rfftd reportlllgT by charities (applicable l(Tr cliarities pr¥parift& their ¢cOUl(S in ciccordance willi the Financicir Reporting Sthndard appliclc ble in the UK cind Republic of Ireland {fRS 102)). I havc no conceTDS and hav¢ con)e across no other matteTs in connection with the examinaiioll to whi¢h aitention ghould be drawn in ihis report in order to enable a proper undcrsthndinbT of (he accounrs io be reaclicd. P E Fl Wri&hi FCA DChA Sheeii SiickllL l)d Chartered AccouniantS 7 5t P4111ic nt We51 Siissex I19 1'1'R Dale.. Pauje 4
C)xni#rk¢i Cenlre of Ai15 LI11¢ Sialenieijt of Finallcial Acti%'ities roi. Ilie Year r,iJ(liYl 31st DeceNibcr 2023 2023 Totsl funds Unre5tr1cd runds Resiricied funds Endowmeni fund Total N(K¢s INCOME AND F.NI)()WMENTS FROM 16.394 16,394 20,33(J Charitable activities CeiiirL' ol-Art% 95.892 95.892 93.280 Investmeiii income 17 24 Total 112.303 112.303 113.643 EXPF.NDITURE ON R1$1 4,371 Ch#ri¢nble *cliviti¢s Ccnire of AMS 119.707 119,707 125.245 Totil 119.707 119,707 129.616 Net bains on inveslmenis NET INCOMEJ(Expf.NDITUREI (7.093) 17.093) (1 fj,973) Rf.CONCILIATION OF FUNI)S Total funds brought forwrd 246.434 246.434 26!,407 TOTAL FUNDS CARRIED FORWARD 239.341 239,341 246.434 The notcs fomi part of these finic ncial slalernet]15
Oxmhrket Centre of Art$ Liniitc<l Ilalaiice %lJ¢et 3 1st DLYemb¢r 2023 ?023 Total funds 2022 Unrestricted ruTrd5 Resiricted lunds tmdowineni [1)d Notes FIXED ASSETS Tic Ngbible Iisseis Invesinienis 10 206.725 238,909 312 207.037 207.037 238,910 CIIRRF.NT A.SSF.T8 Ikbior5 Cash at bank and in h1< nd 12 294 54.814 294 54,814 3.928 66.623 55.108 55.108 70,5£1 CREDITORS year 13 {??.8041 (?2.804} (63,027) NET CURRENT ASSETS 32,304 32.3( TOTAL Assf.T.S Lr,8 CURRFNT LIAIIILII'IF..S 739.341 239,341 246.434 NCT ASSETS 239.341 239,341 246,434 FUNDS Unirslricied fiinds 14 239,341 246.434 TOTAL FUNDS 239.341 246.434 The charitable compaiiy is eniitled to exemption from audii under Seciion 477 of the Companies Aci 2006 for the year ended 3 1st December 2023. The Intmbers have not required the company io obtain audit of ils firnncial sta(ements for tli¢ year ended 31 st Decernber 2023 in accordance wiih Section 476 of the Companies Act 2W6. The Irusiees acknowl¢d&r¢ their responsibililies for (a) en%uTinb Ihai Ihe cl)arilable company keeps accountinbr records th comply with Sections 386 and 3x7 of the Compilnies Act 2006 and preparingT tin(Lneilc I Sllc iements which UTive a (rue and fair view of the sthie of affaits of tlie charilable coinpaiiy as ai Ilie end of el¢ cli fink)ncial y&ir and of its SUTplus or deficir for each financial year in a¢coTdniicc with Ihe requireiiicnts ot Sections 394 and 395 and which oihen¥ise coiiiply with Ihe requiretnenis of the Con)panies Act 2006 re11< tinb 10 lin4lncial statcments. so far £1S appIlbI¢ 10 tlie chariiablc conipany. (b) The Iioies fom) pan ofthe5e financial atements PaLi¢ 6 coiitinued...
xmarket Centre of Ar¢s Limitul IlkilaiicL' %h¢et eontiniied 31 st l)ecembcr 2023 These Iin<incial st£ltemenis have treeii pwared in accordan¢¢ wilh tlie provisions applicable io charitable ¢onipanics 5ubjcct to the sinall cornpanie5 lebpime. iancial slaieinenis were approved by ihe Board of 'ln]slees and auiliorised for .... 'LJ4. and were 5ibit]ed on it5 beliaifby-. issue on S R Siniih TrSlee LAMyles. The noLe5 fom) Pl£ rt ofihese fiiiancial s(atcm¢nts Pagje 7
Oxniurkct C¢iitre of Arts Lirnit¢d Notes to Ili¢ FinAiicial Stxtemtiils. loi. the Yciir F.ndcd 3 1st Dec¢mb¢r 2023 ACCOUNTINC. POLICIES B*sis of prepllring the financial sl8t¢ment5 'l-he tiiiaiicial StateenL% of ihe charithblc company, whicli is a piiblic benelit eniily under FRS 102. 1)Live been prep11 l'ed in accoi'dan¢¢ with the Chc1ritlC5 SORP IfRS 102) 'AccounlinLJ and Reporting by Chariiies.. Siaienieiil of Recommended Practice oppliubl¢ to charities prcparinb Ilieir accounts ID acc(Trrdante wilh the Finiincial Reporting Standard 41ppIic<ible in the UK clnd Republic of Ireland {fRS 102) {cffeciive l January 20191,. Fiiiancial Ileportiiig st<1nd1 rd 102 The F.'Lllclncial Reporting Siandard applicablL in the UK and Republic of Ireland, and the Comp¢inies Act ?006. The fjnancial statements have I¢ prepared undeT tl)¢ hisioricic I cosi convention, wtth the exception of investments which are included at fflarkei value. Finan¢ixl reportin% standard 102 - reduced disc105ur¢ exemption5 The Lliari&1ble coinpany has iaken advanlabyt of the following disclosure exemption in preik)ring) Iliesc tii?ancial siaiemeiiis, as perinitied by FRS 102 llh¢ Finai)cial Reportlllb sta1)7rd applicabl¢ ii) Ilie UK and Republic ot. Ireland,: the requirLinents of Seciion 7 Skniiemeni of Cash Flows. Income All iiicome ond donations ar¢ rccognised in the Siaiemeni of Fin1c ncial Ac(iviti¢s once the cliarity IS enliileineni to the flind& it is probcible that the in¢orne will t>e received and the arnounr can be measured reliably. Bookinbj fees ai)d deposits held in advance are deterred and recogniYd in th¢ pcriod in which they relaie to. There were no donotion5 in kind durin8 the year. F.xpei)diture Liabili¢i¥% Lire recob?nised as expenditiire as 500n a% ihere 15 a legal or constructive oblig3tioii conimilllnb) the chi1rity ro ihat expeTrditllr¢. it is prOb1b]e t1[ iransfer of econoniic benefits will be quired in s¢iileEiieiit lind Ihe ilmoiint ()[ Ilie obliuiaiion cali be rneasured reliably. Expenditiir¥ 1$ c1ccounted for oil an accruals basis 11 1)d has en clLissified und¢r liettdinus ihai abgFregFate all cost related to ili¢ caiegTOry. Allocation #pportionment of costs Losls are IItsck)ILd between dirccl charitabl¢ and sUprt co$ according io the of tl)¢ cost. Where items involve moir than one category they are apportioned irtwecll ihc ¢at¢¥ories on a basis wliich is consistent with Ilie u5¢ of resources. Taiigibl¢ fixed Assets D¢preeiaiion is pi'ovided at the followinbj annual rates in order lo lIe off each Lsset over its esiimaled useful rrcehold property Improvement% to pioperty Plani lid mc1chinLry 20/0 On COSI on cosi Fixed assets are Clc Pltalised where the iniit£11 cosi exc¢eds £300. Tiixmtioii Oxmllrket Cenire of Arts Liniited 15 a comp1c ny liri)ii¢d by bjuarantee and is a regiisiered cliarity (No 263367). As resuli ofiis clii2ritabl¢ 5taius. Ilie cl)arily is ¢xetnpt Irom corporaiion lax 011 its cliaritoble activities. Fuii(12d ¢coiinting UnTestricied lund8 C41n be iised in accordcince with the charitable objectives ai the discreiioii of the IrusleLs. R¢strirled fiiiids Cl£ n only be iised for Pl£ rticiilar rcstrieted piirpo%c5 Il'tihin the objecrs of the charity. Restriction.q ,Irise k¥lien spe¢ilied by Ihe donor or wh¢n lunds arc nifcd lor panicular rcsrriclcd p41rpo.%c%. Pagje 8 coniinued...
Oxmmrket Cenlre of Art5 Limitcij
Notes to tlic Finxiicial St#t¢in¢iJts- ¢onfiNued
for Ihe Ycar Elided 3151 December 2023
ACCOUNTING POLICIES- eontinued
Fund accountii)g
Endowmeni IuThd.5 4?re lulld.% &iiven 10 Uie ilie Charity to be held as capitsl lyjt wliicli cai), 01 ihe disciElion of the
Iru8leLs. be applied incoiiie for these wrpose5.
Further explanation of the nature and PUTpose of each fund is included in ih¢ noies d)e fiiian¢ial slal¢inenls.
l>tnsioii eosis #t)d other post-r¢¢ir¢ment bt*tfits
I'he charitable eompclny operaies a defined ntribu[lOn ponsion sthLTne. Contributiuns payable 10 the chiTrritable
company's wnsion schenie are chlc r¥cd 10 the S11c ieinent ol-Financial Activities in tl)e period la which Iliey relate.
Ivv¢strneiit5 investment income
All ii?vestinenis ¢lre siat¢d at market valiie and Ihe movemeni shown Comprises trf>tli realised and unrcalised blains
and losses.
R¢alised Lliins or losses ari5inLv on the disposal of invesiments Ilogi¢ther with provisions foT diininution in Vk)lue).
are credited or d¢biied 10 ilie Siatemenl of Finuncial Activitie& and subsequently transfe]red io unrcstricted
lunds.
Invesimeni income (incliiding? associaced recov¢rdble} is Credited 10 the Sts¢¢ment of Financial Activities
when r¢ceivc1blc.
Grants Receivable
Crani8 tor iiMnTrcdiaie expenditurc are aOnIc for when Ihey become Tettivable. Grnnls received for sp¢cifJ¢
puipose5 are irec2tcd cls strIcted funds. GranLS restricted to future accountinu periods are deferred cind
rxoyiis¢d in t1i05e perils.
tK)NATIONS AND LEGACIES
2022
Ikin
O%inarket Centrc of Arts LimitLYI Noles to tlie FiiianciAI StAtemeNts- continued for th¢ Yer EiidL.d 315¢ Deccinbcr 2023 INVCSTMENT INCOME 2023 202? [Jividen(L Teceived 24 INCOME FROM CHARITABLE AcfiviTIES ?023 2022 Aciiviiy Centre ofArts Centre of Arts Subscripiions Bookiiig lee5 Coiiiinissioti on sale of ai'twork Otli¢r in¢ome Oxmarket open 51,452 34.174 Centre of Art5 Centre of Arts CentreofArts 44.339 511,989 355 7.740 95.892 93.280 CHARITABLF, ACTIVITIES COSTS SUprI costs {see no* 61 Direci Costs Totals Centre ol'Arts 50,525 69.182 119.707 SUPPORT COSTS Governanc¢ costs Management rinpnce Tota15 Centre of Arts 65.196 3.475 69,182 NET INCOMEI(F.XPF.NDITURE) Net incomellexpenditUT¢) is stated after chic rgingllcreditingl- 2022 Independent examination f¢¢5 Depreciiltioii own¢d ass¢is 3.47$ 32,184 2.100 32.775 Pagie 10 coniinued.
OXIrket Ceiilr¢ of Art5 Limited Nul¢% to tlie Fin#ncial St#l¢ineiils- conlinued ror tlie Year End¢d 31st December 2023 TRUSTF.ES' RF,MUNERATION AND BENEFITS There weie no Mistees, rtmtsneniion or other knefiis for the year ended 31si Dffeniber 2023 iior for Ilie year ended 31 si December 2022. Tru$lees' expenses DuringF th¢ year ended 3 Isi December 2023 truste wcr¢ re1imbuj gallery expenses ioialling? £1.781 (2022.. £3.213). There were no other payrnentS to (rnS(tts during ihe year other tlian the Teimbursetn¢nt of expenses InCued in Ihe noniial course of biisiness. srAFF COSTS 2023 2022 Wage.% *thd salaries Sociiil seciirity ci)sts OLh¢r pension cosis 48,574 53.831 1,036 49,610 56,299 The aveTagFe monthly nurnber of ernployees durin# the year wa5 as follows.. 2023 2022 Adininistratio No employees received emOliunen in exces5 of £60.000. TANC.IBLE Fixfi D ASSETS lfftwoveinenis to property Freehold proFerty Plani and machinery Tolals COST At 1st Janiiary 2023 31 si Deceniber 2023 119.917 203,190 374.462 DEI PRECIATION Ai I sl Jic lliiii ry 2023 ClIDrgF¢ for ye1¢ r 25.183 60.9.$7 30.479 49,413 506 135,5.$3 32,184 At 31 st December 2023 26,382 91.436 49,919 167,737 NET BUOK VALUE A(3 Isi Deceinb¢r 2023 1)3,535 1,436 206,72.S Ai 31 si Deceinber 2022 94.734 142,233 1.942 238,909 Page I
Oxlliai-k¢.I C¢'ntre of Arts Limit¢(I Notcs io tlie Fiii#nri41 Stiiiemeiils continued fui. the VLar Ended Jlsl tkLcinber 2023 FIXF.I) ASSET INVESTMF.NTS Shares in Listed ndenakinLvs Totals MARKEI. VALUF Ai Isl Jaiiiiary 2023 Additions At 31 st Decemb¢r 2023 312 NET IIOOK VALUE At 31 si Deceinber 2023 312 Ai 3 Isi Deceinber 2022 Th¢r¢ were no inveslmeni ns5e15 (Triilside the UK. Cosi or V£11iiaiion al 3 1st l)¢¢¢rnber 2023 is represented by- Shares in grwp ertakinT Li%ied invesimei)ts Totsls Cost 312 The tomp£lny's inve5tin¢nts ai ihe balance sheei date in ihe shatt capi1 of c¢)mpanies include tlie following.. OxmArkct Trading Limited RegTisteTed oftice.. Si Andrews Court. Off Ea S(reeL Chichester. West Sussex. P019 1 YH Class of share.. Ordin<iry holding 100 31.12.23 31.12.22 A&gTr1.eg?7t¢ capital aIid reserves ProliV(lossl lor the y¢ari period 1,646 (4.711) 12. Dri IITORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2023 Amounts owed by bjroup Imdertaking Other debto 437 3.491 294 294 3,928 Oll ?5th Ociober 2021 a llew tradin&1 subsidiary. O¥markei'l radiiig Limiied Iconipany Nuinbcr 137019791. was incoTponied io hike on Ihe 0tIonS of ihe sliop. Tli¢ balance above r¢lales lo amounts due to Oxmarkel Tr¢1din&) I,imit¢d <1131 [kCemlr 20?i in relaiion tu sales diid expenses. Page 12
Oxm#rkct C¢ntre of Arts LiiMil¢d Notes ¢0 tlie Fiii#neiAI St#t¢ment5 - Cvlltinucd for the Year F.nded 31st Deeember 21)23 13. cilri Dll'OKS.. AMOUNTS FAI.Lif4c. DUF. WITHIN of4F. YEAR 2022 Triide creditors Amouiils owed lo gjroup iindertakings Soci&l secLirily and oilier l£TrX¢S Otlier creditors Accriidls and deferred incorne 1.774 4,586 lJ28 3,866 11,250 3.449 1.797 ?7,360 30.421 22,804 63.027 14. MOVF.MfNT IN FUNDS Net movement iTr funds Ai 31.12.23 Ai 1.1.23 Unr¢slri¢ted funds Genei'al liind Buil(liJig Fund (Desibpnaled) Cnpiul Fiind (tksiunatedl 150,59.S 95,839 {7,0151 (1.1991 143.580 94,640 246.434 {7.(1931 239,341 TOTAL FUNDS 246.434 {7.093} 239.341 Ner movement in fiinds. incliided in the aixTrve are as follows.. Incomin resoiirces Resources expended Gain5 aiid losses Mov¢ment in fiinds Unrestricted funds General lund uildinb FLind IDesigTnaledl Capital Fund I[k5l7ted) 112,303 (119.62Q) (I.IcA) (7,015) 112J03 (119.7071 (7,093) TOTAL FUNDS 112.303 (119.7071 (7,093) Page 13 coniinued...
Oxm&rket CcnirL' ol Arts Liinited Notes to thc Fiii#llci81 St*TrtL•mtiiig- eoniinucd for tlic Year F.ndeil 3 1st DccembL'r 2023 14. MI)V LMf.NT IN FUN DS- eonliniicd cOmprativeS for mov¢m¢nt in fund5 Net movemcnt in funds Transfe15 betweeii fuiids Ai 31.12?? Ai 1.1.22 Unrestrict¢d Gener<il fulld Biiildingi Fund {DesiLFnaied) Capiial Fund (D¢sibTnaiedl 165.713 95.839 855 115,085} (33) 1 $0,-595 9.S,839 {888) 33 262.407 115.973) 246,434 TOTAL bUNDS 262.407 115.973) 246,434 Comparotive iiet movemcni in fun(Ls. ineliided in ihe above 4we ÉLS follows.. Iwon)tng Tcsources Resources expcnded Mov¢n)eni in lunds Unrt5trieted funds Ggner<il liind Capilc11 Fund (D¢sigTnaied} 113,643 (128,728) {8881 {15.0851 1888) 113,643 1129.6161 115,9731 TOTAL FUNDS 113.()43 1129,616} 115,9731 A current year 12 month5 £lnd prior year 12 wnonths combined w11]0 is LS follows- Net nK)vemeni in fiinds Trnn5fers beiiveen fijnds At 31.12.23 Ai 1.1.22 Uiircslriettd funds Geiieriil fund Biiilding fund IDegignc1ted) 165,713 95.839 855 122.1001 (1.199) 233 {J3) 143,580 94,640 33 262,407 123.066) 239,341 TOTAL FUNDS 262.407 123.066) 239.341 14
OxmJrk¢i Cciifre of Arts Llniited Notcs to thl, Fin#iiei#l St#tcin¢nts- cvnlknucd ror the Ye4r r. dcd 3 Isl Deeeniber 2023 14. Movf,MF.NT IN FUNDS- eoniinued A curreni year 12 monihs nd prior year 12 Movdis ¢ombincd net movement iii funds. included in tlie above are as follow.s'. Incoming resourccs Resoiir¢es expended Gains and 105ses Movement in funds Unrestricted fiLnd5 Gei)¢ral lund Building Fund (Degigpnaied) Pilcil Fund IDe5igynated) 225.946 {?48 J57) (1,199) 233 {22.100) {1.199} 225.946 {249J231 123,066) TOTAL FUNDS 225.946 {249J23) {23,066} The incoine liinds of tl?e Chariiy include desiyiaied fvnds which have been sel aside out ofunreslricled funds by Ilie trustee5 ltir specilic pyrposes. RELATED I)ARTY DISCLOSURLS Th¢it w¢re no related party trdll&gCtions for the year ended 3 1st December 2023. PauFe 15
OxniArk¢t Cenlre of Arl8 Limited D¢tdil¢d StalLbmeiil of Finid ncial Attivitie.8 ror the Y¢Mr Ejided 31st D¢¢¢mber 2023 2023 202? INCOMF. AND F.NDOWMF.NTS l)onitions and legacics t)onlÉ lions Giftaid Graiits Insunnce Income 12,509 8.5 3.800 5,435 3.3.$2 7.000 16.394 20,339 Invi'stmenl incume Dividends receiv¢d 17 24 ChrltAble Hftiviti¢s Siibscriptions Bookinu tees Commission on snle of artwork Oiher iiicomc OKm£irker orn 22 34,174 -50,989 355 7,740 51,452 44,339 95.892 Total incoming re5011rcrt 112.303 113.643 EXPF.NDITURE Oth¢r Irthdrng activities Evenis clnd fiiiidri11SITbbT expeiises 4,371 Cliaritable aetivitiC5 48.474 53.831 Social secLirity Pensions Pr¢niise5 ninning exp¢iises Repairs and mainteric nce 1,036 7,776 16.861) 1,250 540 50.525 68.455 Siipport eosts Managem¢vt Offi¢¢ expcnses Bookkeeping) f¢e5 Iiisuran¢¢ Oih¢r expenses Fell01d property Improveinenls io propeny l)It)nt Lind Inacliinery 6,634 12.4.59 5.197 8.721 1.199 30.479 507 5,649 ?.779 4,325 9.175 1.019 30,479 888 65,196 54,314 This Pclgie does not fomi part of die staiu¢ory financial stalements
Oxrnarket Ceiitrc of Arls l.iniiteil Detailed St4ieineJil of FiiiHnciiil Aciivitie$ foi. the Year Ended 3 1st DeceNibcr 2023 2023 2092 Managemenl 376 GovernaDcc costs Independent examination fees 2.11)0 Total reso(Irce.s exnded 119.707 129,616 Net cxpenditiire 17,4041 {15,9731 This pabie does noi fortll P£lrt ofihe $tLOry financial staiemenis Pasje 17