2024-12-31-accounts - Oxmarket Centre Of Arts Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED COMPANY NUMBER: 01029563 (England and Wales)
REGISTERED CHARITY NUMBER: 263367

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

`FOR`

`OXMARKET CENTRE OF ARTS LIMITED`

Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

OXMARKET CENTRE OF ARTS LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

		`Page`
`Report of the Trustees`	`1`	`to`	`3`
`Independent Examiner's Report`		`4`
`Statement of Financial Activities`		`5`
`Balance Sheet`	`6`	`to`	`7`
`Notes to the Financial Statements`	`8`	`to`	`15`
`Detailed Statement of Financial Activities`	`16`	`to`	`17`

OXMARKET CENTRE OF ARTS LIMITED

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report
withthefinancialstatementsofthecharityfortheyearended31December2024.Thetrusteeshaveadopted the
provisionsofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicableto charities
preparingtheiraccountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublic of
Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Our aims and objectives`

Ourprinciplesaimsaretopromotelocalandemergingartists,andtheappreciationofartamongstthe wider
community.Weachievethislargelybystagingexhibitionsfeaturingawidevarietyofartandcraftsandby ensuring
entryisfreetothepublicinordertoenjoytheexhibitions.Weaimtobeacatalystforfineartsandcraftsin the
Southandtoencouragethepublic,togetherwithlocaleducationalbodiesandcompaniestoengagewith,support and
participate in cultural life within the area.

`ACHIEVEMENTS AND PERFORMANCE`

2024builtonthesolidfoundationssetin2023.Consistencyinstaffingandvalue-addedtoartistsexhibiting enabled
thegallerytofillmostofitscapacity.Periodswhenhireswerenotpossibleallowedforself-curatedexhibitions that
mostlycompensatedforthelackofhirefeesthroughhighersalesandcommission.Theshopdelivereda steady
stream of profits under the new business model that were donated to the charity.

Thegalleryhostedabusyandvariedscheduleof45exhibitionsintotal.Theabilitytohostsomanyexhibitions for
localandemergingartistsisakeyfoundationofourcharitablepurposeandwebelievemakesusuniqueinthe South
East.AswellaswelcomingbacksomeregularlocalexhibitorssuchasChichesterArtSocietyand Emsworth
Printmakers,Artel,FionaBellCurrieandCatherineBarnes,wewereabletohostexhibitionsforanumberofnew and
emergingartistsincludingtheFineArtGraduateShowforChichesterUniversity.Wealsoheldfourofourown curated
exhibitionswhichenablethosewhomaynotbeabletoputontheirownshowstoexhibitinaprofessional exhibition
alongside other local and emerging artists.

OneofourcharitableaimsistofosteracreativecommunityinandaroundChichesterandtothatendwestarted to
hostbi-monthlyartistMeetUpsduring2024whereartistscanmeetfellowartistsonaninformalbasistoswap ideas
and forge new creative connections. These have proved to be very popular and will continue into 2025.

Wehavecontinuedtoencourageartiststoproduceexhibitionsthataddtothevisitorexperienceby including
demonstrations and workshops and these have proved popular amongst visitors and artists alike.

In addition to working on exhibitions for 2024, we were also taking bookings for 2025 and beyond.

Theshop,runbythewhollyownedtradingcompany,makesartownershipmoreaccessibleandaffordablefora wider
audience by offering a selection of high quality, distinctive and affordable handmade gifts and works of art.

Weintroducedacontactlessgivingstationinthegalleryandfriendsdonationlinkstoouremailnewslettergiving rise
toasteadyincreaseindonationsmostofwhichareeligibleforgiftaid.Wewerealsoextremelygratefultoreceive a
legacydonationfromtheestateofoneofourlongeststandingsupporters.Recognisingthatourcharitablenature is
notimmediatelyobvioustovisitorsandotherstakeholders,webeganworkonrefininghowwearticulate our
charitable purpose and develop our outreach in the years ahead.

Ourvolunteerbasecontinuestogrowandvolunteersarenowinvolvedinagreatervarietyofroles,which helps
enormouslytodeliversuchafullandvariedscheduleofexhibitions.Wewillcontinuetoseekmorevolunteersas this
willhelpustoundertakemorenewprojectsandwillalsoprovidemoreopportunitiesfordifferentsectorsof the
community to participate in volunteering.

WehavecontinuedourassociationswithChichesterUniversityandChichesterCollegeresultingbothinstudents of
arts visiting the gallery and also in having the opportunity to undertake work experience with the gallery.

Challengesfacingthegallerygoingforwardincludethecontinuedsqueezeonmanyhouseholdbudgetsdue to
increasesinthecostoflivingandconcernsaboutdecliningfootfallincitycentres.Ourgoalsfortheforthcoming year
aretobroadenthevisitorbaseforthegallerybydevelopingawiderrangeofgroupsandactivities,to increase
donationsfromvarioussourcesinordertomaintainfreeentryandkeephirecostsdown,andtofosterrelations with
local businesses with a view to obtaining sponsorship for new projects and exhibitions.

Page 1

OXMARKET CENTRE OF ARTS LIMITED

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024`

`FINANCIAL REVIEW`

`Financial Position`

Theoveralldeficitfortheyearended31December2024was£6,732(2023:deficit£7,093).However,this includes
depreciationof£32,184whichdoesnotcontributetothecashflowofthecompany.Cashatbankandin hand
increasedto£78,715(2023:£54,814).At31December2024,totaloverallfundsamountedto£232,609. Total
unrestricted funds include designated funds of £95,255.

Wearelookingtoraisefundsoverthenextfewyearstoreplenishthereservesbothinanticipationofongoing repairs
andimprovementstothefabricofthepremisesbutalsotoimprovethecharity'sresilienceinthefaceof economic
risks.Weaimtosignificantlyincreasetherateofvisitoranddonations,giftaidrecovery,accessadditionalsources of
grants and increase the contribution made by the trading company to the charity.

`Reserves policy`

TheBoardhasestablishedapolicywherebytheunrestrictedfundsnotcommittedorinvestedintangiblefixed assets
heldshouldbe6monthsoftheresourcesexpended,whichequatesto£70,000ingeneralfunds.Atpresent, Net
CurrentAssetsplusInvestments,equatesto£58,068.Wewillcontinuetofocusonincreasingthisoverthe following
year to bring it in line with our reserves policy,

`FUTURE PLANS`

Futureplanstocontinuethedeliveryofcharitableobjects(withinaframeworkofmanagedcosts,maintenance of
premisesandappropriatefinancialprudence)includeproactivelyidentifyinglocalandemergingartists,helping them
shape their artistic offering and promoting their presence to the community.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

ThecharityisgovernedbyitsMemorandumandArticlesofAssociationandconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

`Recruitment and appointment of new trustees`

Thetrustees/directorsareelectedattheAnnualGeneralMeetingofthecompanyassetoutunderthetermsof the
ArticlesofAssociation.Thereareamaximumof20trusteeswithone-thirdretiringfromofficeateveryAnnual General
Meeting.  The Articles set out a quorum of 5 directors.

Louise Goldsmith was coopted as a trustee and director during the year.

We have recruited two more trustees and directors who will be joining in 2025.

TheBoardmeets4timesayearandhasultimateresponsibilityfordirectingtheaffairsofthegallery,ensuringit is
solvent, well-run and delivering the outcomes for which the charity was established.

Louise Myles, Acting Chair

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

01029563 (England and Wales)

`Registered Charity number`

`Registered office`

St Andrews Court
Off East Street
Chichester
West Sussex
PO19 1YH

Page 2

OXMARKEf(F4TRE ARTS LIMTfED FOR THE YEAR E14DED 31 DECEMBER 2024 M J 8L41 lapptsred 2211120241 L lknfdsmth (ap.rted IIIIEQ024) R E Harris L A fvtyles SRSrnith J M w aark 4/ir20241 LA Parf)ato lapwi$ 1013n0251 M A K G (appoitd 11412025) Irah Akxander FCCA FCA Le5 &ownlee (ChKhesterl UmtL%l rdh3m R(k F020 7EQ The abfft h4S preped in accc(dm wih tr 4jeo.al cl Part 15 c¢ the Corry>aFNes kt 2CQ6 to srrdl comwwe& 0910912025 rcwed lry (th trurtees cffi................................. L A Me5- Tn&ee Pap3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

OXMARKET CENTRE OF ARTS LIMITED

`Independent examiner's report to the trustees of Oxmarket Centre of Arts Limited ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2024.

`Responsibilities and basis of report`

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youare responsible
for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe 2006
Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as
carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have
followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the
examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Sarah Alexander FCCA FCA

Lewis Brownlee (Chichester) Limited
Chartered Accountants
Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ

17 September 2025 Date: .............................................

Page 4

OXMARKET CENTRE OF ARTS LIMITED

`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024`

`Unrestricted` `Restricted` `Endowment` `funds` `funds` `fund` `Notes` `£` `£` `£` `INCOME AND ENDOWMENTS` `FROM` `Donations and legacies` `2` `37,226` `-` `-` `Charitable activities` `4` `Centre of Arts` `97,123` `-` `-` `Investment income` `3` `20` `-` `-` `Total` `134,369` `-` `-` `EXPENDITURE ON` `Charitable activities` `5` `Centre of Arts` `141,157` `-` `-` `Net gains on investments` `56` `-` `-` `NET` `INCOME/(EXPENDITURE)` `(6,732)` `-` `-` `RECONCILIATION OF FUNDS` `Total funds brought forward` `239,341` `-` `-` `TOTAL FUNDS CARRIED` `FORWARD` `232,609` `-` `-`	`2024` `Total` `funds` `£` `37,226` `97,123` `20` `134,369` `141,157` `56` `(6,732)` `239,341` `232,609`	`2023` `Total` `funds` `£` `16,394` `95,892` `17` `112,303` `119,707` `311` `(7,093)` `246,434` `239,341`

The notes form part of these financial statements

Page 5

`OXMARKET CENTRE OF ARTS LIMITED`

`BALANCE SHEET 31 DECEMBER 2024`

`Unrestricted` `Restricted` `Endowment` `funds` `funds` `fund` `Notes` `£` `£` `£` `FIXED ASSETS` `Tangible assets` `10` `174,541` `-` `-` `Investments` `11` `368` `-` `-` `174,909` `-` `-` `CURRENT ASSETS` `Debtors` `12` `30,925` `-` `-` `Cash at bank and in hand` `78,715` `-` `-` `109,640` `-` `-` `CREDITORS` `Amounts falling due within one` `year` `13` `(51,940)` `-` `-` `NET CURRENT ASSETS` `57,700` `-` `-` `TOTAL ASSETS LESS` `CURRENT LIABILITIES` `232,609` `-` `-` `NET ASSETS` `232,609` `-` `-` `FUNDS` `14` `Unrestricted funds` `TOTAL FUNDS`	`2024` `Total` `funds` `£` `174,541` `368` `174,909` `30,925` `78,715` `109,640` `(51,940)` `57,700` `232,609` `232,609` `232,609` `232,609`	`2023` `Total` `funds` `£` `206,725` `312` `207,037` `294` `54,814` `55,108` `(22,804)` `32,304` `239,341` `239,341` `239,341` `239,341`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 31 December 2024.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 6

sthject to sindl COmn d v*re its Lthif by.. ILLJ9

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024`

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,havebeen
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement
ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial
ReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',
FinancialReportingStandard102'TheFinancialReportingStandardapplicableintheUKandRepublicof
Ireland'andtheCompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoricalcost
convention,withtheexceptionofinvestmentswhichareincludedatmarketvalue,asmodifiedbythe
revaluation of certain assets.

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

`Financial reporting standard 102 - reduced disclosure exemptions`

Thecharitablecompanyhastakenadvantageofthefollowingdisclosureexemptioninpreparingthesefinancial
statements,aspermittedbyFRS102'TheFinancialReportingStandardapplicableintheUKandRepublicof
Ireland':

the requirements of Section 7 Statement of Cash Flows.

`Income`

AllincomeanddonationsarerecognisedintheStatementofFinancialActivitiesoncethecharityhas
entitlementtothefunds,itisprobablethattheincomewillbereceivedandtheamountcanbemeasured
reliably.

Booking fees and deposits held in advance are deferred and recognised in the period in which they relate to.

There were no donations in kind during the year.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommittingthe
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement
andtheamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasis
and has been classified under headings that aggregate all cost related to the category.

`Allocation and apportionment of costs`

Costsareallocatedbetweendirectcharitableandsupportcostsaccordingtothenatureofthecost.Where
itemsinvolvemorethanonecategorytheyareapportionedbetweenthecategoriesonabasiswhichis
consistent with the use of resources.

`Tangible fixed assets`

Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetoveritsestimateduseful
life.

Freehold property-2% and 10% on cost
Improvements to property-15% on cost
Plant and machinery-20% on cost
Fixed assets are capitalised where the initial cost exceeds £300.

`Taxation`

OxmarketCentreofArtsLimitedisacompanylimitedbyguaranteeandisaregisteredcharity(No263367).
As

a result of its charitable status, the charity is exempt from corporation tax on its charitable activities.

`Fund accounting`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

continued...

Page 8

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`1. ACCOUNTING POLICIES - continued`

`Fund accounting`

EndowmentfundsarefundsgiventothetheCharitytobeheldascapitalbutwhichcan,atthediscretion of
the trustees, be applied as income for these purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

`Pension costs and other post-retirement benefits`

Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributionspayableto the
charitablecompany'spensionschemearechargedtotheStatementofFinancialActivitiesintheperiod to
which they relate.

`Investments and investment income`

Allinvestmentsarestatedatmarketvalueandthemovementshowncomprisesbothrealisedand unrealised
gains and losses.

Realisedgainsorlossesarisingonthedisposalofinvestments(togetherwithprovisionsfordiminution in
value),arecreditedordebitedtotheStatementofFinancialActivities,andsubsequentlytransferred to
unrestricted funds.

Investmentincome(includingassociatedtaxrecoverable)iscreditedtotheStatementofFinancial Activities
when receivable.

`Grants Receivable`

Grantsforimmediateexpenditureareaccountedforwhentheybecomereceivable.Grantsreceivedfor specific
purposesaretreatedasrestrictedfunds.Grantsrestrictedtofutureaccountingperiodsaredeferred and
recognised in those periods.

`Financial Instruments`

TheCharityonlyhasfinancialassetsandfinancialliabilitiesofakindthatqualifyasbasicfinancial instruments.
Basicfinancialinstrumentsarerecognisedatamortisedcostusingtheeffectiveinterestmethodunless the
effectofdiscountingwouldbeimmaterial,inwhichcasetheyarestatedatcost.TheCharityhasno advanced
financial instruments.

`2. DONATIONS AND LEGACIES`

`Donations` `Gift aid` `Legacies` `Grants` `Bank interest` `Grants received, included in the above, are as follows:` `Chichester District Council - Business Relief`	`2024` `£` `25,763` `-` `10,854` `-` `609` `37,226` `2024` `£` `-`	`2023` `£` `12,509` `85` `-` `3,800` `-`
		`16,394`
		`2023` `£` `3,800`

continued...

Page 9

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`3. INVESTMENT INCOME`

`Dividends received` `4.` `INCOME FROM CHARITABLE ACTIVITIES` `Activity` `Subscriptions` `Centre of Arts` `Booking fees` `Centre of Arts` `Commission on sale of` `artwork` `Centre of Arts` `5.` `CHARITABLE ACTIVITIES COSTS` `Centre of Arts` `6.` `SUPPORT COSTS` `Management` `£` `Centre of Arts` `66,023`	`2024` `£` `20` `2024` `£` `1,531` `53,216` `42,376` `97,123` `Support` `Direct` `costs (see` `Costs` `note 6)` `£` `£` `68,510` `72,647` `Governance` `Finance` `costs` `£` `£` `3,149` `3,475`	`2023` `£` `17` `2023` `£` `101` `51,452` `44,339` `95,892` `Totals` `£` `141,157`	`2023` `£` `17` `2023` `£` `101` `51,452` `44,339`	`2023` `£` `17`
			`95,892`
		`Totals` `£` `72,647`

`7. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

	`2024`	`2023`
	`£`	`£`
`Independent examination fees`	`3,475`	`3,475`
`Depreciation - owned assets`	`32,184`	`32,184`

`8. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2024norforthe year
ended 31 December 2023.

continued...

Page 10

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`8. TRUSTEES' REMUNERATION AND BENEFITS - continued`

`Trustees' expenses`

Duringtheyearended31stDecember2024trusteeswerereimbursedgalleryexpensestotallingnil (2023:
£1,781).

Therewerenootherpaymentstotrusteesduringtheyearotherthanthereimbursementofexpenses incurred
in the normal course of business.

`9. STAFF COSTS`

`STAFF COSTS`
`Wages and salaries` `Other pension costs`	`2024` `£` `54,414` `1,150` `55,564`	`2023` `£` `48,574` `1,036`
		`49,610`

The average monthly number of employees during the year was as follows:

	`2024`	`2023`
`Administration`	`3`	`3`

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

`10. TANGIBLE FIXED ASSETS`

`TANGIBLE FIXED ASSETS`
	`FreeholdImprovements`		`Plant and`
	`property`	`to property`	`machinery`	`Totals`
	`£`	`£`	`£`	`£`
`COST`
`At 1 January 2024`	`119,917`	`203,190`	`51,355`	`374,462`
`Disposals`	`-`	`-`	`(48,821)`	`(48,821)`
`At 31 December 2024`	`119,917`	`203,190`	`2,534`	`325,641`
`DEPRECIATION`
`At 1 January 2024`	`26,382`	`91,436`	`49,919`	`167,737`
`Charge for year`	`1,199`	`30,478`	`507`	`32,184`
`Eliminated on disposal`	`-`	`-`	`(48,821)`	`(48,821)`
`At 31 December 2024`	`27,581`	`121,914`	`1,605`	`151,100`
`NET BOOK VALUE`
`At 31 December 2024`	`92,336`	`81,276`	`929`	`174,541`
`At 31 December 2023`	`93,535`	`111,754`	`1,436`	`206,725`

continued...

Page 11

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`11. FIXED ASSET INVESTMENTS`

`FIXED ASSET INVESTMENTS`
	`Shares in`
	`group`	`Listed`
	`undertakings`	`investments`	`Totals`
	`£`	`£`	`£`
`MARKET VALUE`
`At 1 January 2024`	`1`	`311`	`312`
`Revaluations`	`-`	`56`	`56`
`At 31 December 2024`	`1`	`367`	`368`
`NET BOOK VALUE`
`At 31 December 2024`	`1`	`367`	`368`
`At 31 December 2023`	`1`	`311`	`312`
`There were no investment assets outside the UK.`
`Cost or valuation at 31 December 2024 is represented by:`
	`Shares in`
	`group`	`Listed`
	`undertakings`	`investments`	`Totals`
	`£`	`£`	`£`
`Cost`	`1`	`367`	`368`
`The company's investments at the balance sheet date in the`	`share capital of companies include the following:`

`Oxmarket Trading Limited`

	`Oxmarket Trading Limited`
	`Registered office: St Andrews Court, Off East`	`Street, Chichester, West Sussex, PO19 1YH`
		`%`
	`Class of share:`	`holding`
	`Ordinary`	`100`
		`31/12/24`	`31/12/23`
		`£`	`£`
	`Aggregate capital and reserves`	`1`	`1`
	`Profit for the year`	`19,928`	`1,646`
`12.`	`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
		`2024`	`2023`
		`£`	`£`
	`Trade debtors`	`25,137`	`-`
	`Amounts owed by group undertakings`	`5,768`	`-`
	`Other debtors`	`20`	`294`
		`30,925`	`294`

On25thOctober2021anewtradingsubsidiary,OxmarketTradingLimited(CompanyNumber13701979), was
incorporatedtotakeontheoperationsoftheshop.Thebalanceaboverelatestoamountsduefrom Oxmarket
Trading Limited at 31 December 2024 in relation to sales and expenses.

continued...

Page 12

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`
`Trade creditors` `Amounts owed to group undertakings` `Social security and other taxes` `Other creditors` `Accruals and deferred income`	`2024` `£` `1,368` `-` `1,442` `268` `48,862` `51,940`	`2023` `£` `1,774` `4,586` `1,328` `3,866` `11,250`
		`22,804`

`14. MOVEMENT IN FUNDS`

`MOVEMENT IN FUNDS`
		`Net`
		`movement`	`At`
	`At 1/1/24`	`in funds`	`31/12/24`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`143,580`	`(6,226)`	`137,354`
`Building Fund (Designated)`	`94,640`	`-`	`94,640`
`Capital Fund (Designated)`	`1,121`	`(506)`	`615`
	`239,341`	`(6,732)`	`232,609`
`TOTAL FUNDS`	`239,341`	`(6,732)`	`232,609`

Net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`134,369`	`(140,651)`	`56`	`(6,226)`
`Capital Fund (Designated)`	`-`	`(506)`	`-`	`(506)`
	`134,369`	`(141,157)`	`56`	`(6,732)`
`TOTAL FUNDS`	`134,369`	`(141,157)`	`56`	`(6,732)`

`Comparatives for movement in funds`

		`Net`
		`movement`	`At`
	`At 1/1/23`	`in funds`	`31/12/23`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`150,595`	`(7,015)`	`143,580`
`Building Fund (Designated)`	`95,839`	`(1,199)`	`94,640`
`Capital Fund (Designated)`	`-`	`1,121`	`1,121`
	`246,434`	`(7,093)`	`239,341`
`TOTAL FUNDS`	`246,434`	`(7,093)`	`239,341`

continued...

Page 13

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`14. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`112,303`	`(119,629 )`	`311`	`(7,015)`
`Building Fund (Designated)`	`-`	`(1,199)`	`-`	`(1,199)`
`Capital Fund (Designated)`	`-`	`1,121`	`-`	`1,121`
	`112,303`	`(119,707 )`	`311`	`(7,093)`
`TOTAL FUNDS`	`112,303`	`(119,707 )`	`311`	`(7,093)`

A current year 12 months and prior year 12 months combined position is as follows:

		`Net`
		`movement`	`At`
	`At 1/1/23`	`in funds`	`31/12/24`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`150,595`	`(13,241)`	`137,354`
`Building Fund (Designated)`	`95,839`	`(1,199)`	`94,640`
`Capital Fund (Designated)`	`-`	`615`	`615`
	`246,434`	`(13,825)`	`232,609`
`TOTAL FUNDS`	`246,434`	`(13,825)`	`232,609`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:

	`Incoming`	`Resources`	`Gains and`	`Movement`
	`resources`	`expended`	`losses`	`in funds`
	`£`	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`246,672`	`(260,280 )`	`367`	`(13,241)`
`Building Fund (Designated)`	`-`	`(1,199)`	`-`	`(1,199)`
`Capital Fund (Designated)`	`-`	`615`	`-`	`615`
	`246,672`	`(260,864 )`	`367`	`(13,825)`
`TOTAL FUNDS`	`246,672`	`(260,864 )`	`367`	`(13,825)`

TheincomefundsoftheCharityincludedesignatedfundswhichhavebeensetasideoutofunrestricted funds
by the trustees for specific purposes.

continued...

Page 14

OXMARKET CENTRE OF ARTS LIMITED

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024`

`15. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 31 December 2024.

Page 15

OXMARKET CENTRE OF ARTS LIMITED

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024`

2024
£
INCOME AND ENDOWMENTS
Donations and legacies
Donations
25,763
Gift aid
-
Legacies
10,854
Grants
-
Bank interest
609
37,226
Investment income
Dividends received
20
Charitable activities
Subscriptions
1,531
Booking fees
53,216
Commission on sale of artwork
42,376
97,123
Total incoming resources
134,369
EXPENDITURE
Charitable activities
Wages
54,414
Pensions
1,150
Premises running expenses
10,696
Repairs and maintenance
2,250
68,510
Support costs
Management
Office expenses
11,286
Bookkeeping fees
3,048
Consultancy fees
1,592
Insurance
5,420
Other expenses
12,493
Freehold property
1,199
Improvements to property
30,479
Plant and machinery
506
66,023
Finance
Bank charges
3,149
Governance costs
Independent examination fees
3,475 2023
£
12,509
85
-
3,800
-
16,394
17
101
51,452
44,339
95,892
112,303
48,574
1,036
7,776
(6,861)
50,525
6,634
12,459
-
5,197
8,721
1,199
30,479
507
65,196
511
3,475

This page does not form part of the statutory financial statements

Page 16

OXMARKET CENTRE OF ARTS LIMITED

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024`

	`2024`	`2023`
	`£`	`£`
`Total resources expended`	`141,157`	`119,707`
`Net expenditure`	`(6,788)`	`(7,404)`

This page does not form part of the statutory financial statements

Page 17