REGISTERED COMPANY NUMBER: 01588845 (England and Wales) RCI GISTERED CHARITY NUMBER". 512019 Report of the Trustees and Unaudited Financial Statements for the Year fnded 31 March 2025 for Castle Park Arts Centre KPD Business Services Limiled The Old Shippon Bradley Frodsham Cheshire WA6 7EP
Castle Park Arts Centre Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustee5 Independent Examinevs Report Statement of Financial Activitie5 Balance Sheet Notes to the Financial Statements 9 to 14 Detailed Statement of Financial Activities 15 to 16
Castle Park Arts Centre Report of the Trustees for the Year Ended 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. -rhe trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I02) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Castle Park Arts Centre continues to stimulate interest. knowledge and uiidcrstanding of the arts in their broadest sense. It aims to improve the perception, awareness and enjoyment of the Ails regionally. locally and especially in young people. Consistent with this statement the Centre has the following vision.. To make people happy through culture, support, inspiration and entertainincnt. Our overriding aim is for ¢v¢ryone who visits or uses the Arts Centre to enjoy themselves and leave feeling good dnd look forward to returning. Building on this vision, our aims and objectives centre on using our buildiiig, with its rich history and beautiful setting, to provide galleries. places and spaces for the community to gathcr socially, participate in arts-based activities and to be excited and inspired by art works created by emerging and established artisls. We want the Centre to remain a cultural hub for the professional arts coiiiniunity whether it be arts practitioners running workshops across the art forms or participants who learn new skills and Inake new connections at the rich variety of events and courses offered or members of the public of all ages who visit the gallery, attend functions, visit the arts-based retail outlets or socialise in the cafe. To realise these ambitions, it is our primary task to maintain the building in good condition. to provide a safe space for all these activities to take place and to inv¢st, subject to the availability of funds, in those improvements that can enhance the experience for artists, staff, volunteers and visitors. Public benefit The trustees have complied with the duty in Section 4 of the 2006 Act lo hav¢ due regard to public benefit guidance published by the Charity Commission. Page I
Castle Park Arts Centre Report of the Trustees for the Year Ended 31 March 2025 ACHIEVEMENT AND PERFORMANCb: Charitable activities This financial year all our efforts have concentrated on moving to a sustainable financial footing and sharpening our focus on strong corporate governance. Thc need for robust financial management is being driven by the increasing costs of overheads and direct expenditure due to in(lationary pressures and above all, the hikes in energy costs. Strong corporate governance is vital if we are to remain compliant with legislation, be financially stable, and continue to be trusted by the general public. With the aim of enhancing trading activitie5 dnd improving the charity's professional administration, at the beginning of the financial year, we reviewed and relincd our management structure. The position of Centre Manager was discontinued and the dutie5 split into two distinct roles. One role deals with charitable activities and the other concentrates on ancillary and primary purpose trading activities. The changes took effect on l April 2024. Towards the end of the financial year we updated our Articles of Association to bring them in line with changes in legislation and to clarify the clauses relaling to membership. And. throughout the year we have also continued to develop and implement policies that are demanded of a responsible charity. We have a well-structured board of trustees with diverse skills and experienc¢5 ihat make informed decisions in response to the variety of challenges, oversee risks and provide strategic directioii. Our courtyard café has established itself a5 a wann and welcoming space. It is our main ancillary trading activity, and its surplus income has provided crucial support for our charitable activities, with plans to build on this success in the future. It is growing in popularity with thosc visiting and working on their art in the galleries and we were very pleased when the Food Standard Agency awarded our café a 5 star rating in February 2025. Following successfully raising over £20,000 late in 2024 through a crowd fund scheme to equip the Arts Centre with solar panels, the installation contract was c()IMpleled early in this financial year. and we have benefitted by a reduction of about 250/0 of our electricity Costs. Improvements have been made to the plumbing system and electrics in the main building, which will increase reliability of the service we provide and lead to cost rcduction5 because of the new ability to more closely monitor energy use. Our annual prograrnme of art-related evcnl5 continues. including talks, demonstrations. workshops, and interactive activities to engage diverse audiences. 'I'hc digital enhancements we made to our gallery space last year is now beginning to boost revenue. This digital Ir¢iiisfomiation is Starting to enrich our offerings in music, drama, theatre, and more. It is also helping us connect with younger audiences and support our goal of staying aligned with contemporary and digital art trends. Our Art5 Commillcc has continued to update the arts Strategy to promote excellence in art education for all ages. The Events Cornmittee has remained focuscd on short-tem fundraising initiatives that not only generate revenue but also increase footfall at the Arts Centre, strengihcning its appeal within the local community- In October 2024, we received a £12,000 grant from the Marshes Community Benefit Fund to replace our fire alarni system. Installation took place in January 2025, with completion and commissioning in early February 2025. The grant is reported as a restricted fund in these accounts, and we extend our sincere gratitude to the Marshes Community Benefit Fund for their generosity. Through the CWVA/UKSPF creative arts grdnts panel. we secured a grant to host seven creative taster art sessions. all of which were successfully delivered by the cnd of the financial year. Our outdoor spaces continued to thrive. offering daily free musical perforniances to the public. These events provided significant cultural benefit5'. 5UPPOrting anisls, offering the cornrnunity live music experiences, and revitalizing interest in the Arts Centre. This initiative also b005t¢d café revenue and broadened our audience. Each of our galleries remained fully booked throughout the year, with exhibitions rotating every six weeks to accommodate the high demand from artislic groups and individual artists. The return of groups renting spaces for workshops and creative activities has also been a welcome development. Page 2
Castle Park Art5 Centre Report of the Trustees for the Year Ended 31 March 2025 We are dedicated to offering robust cultural engageinenl OPPOrtuniiie.4, particularly for underserved groups. and fostering local creative talent. The majority of artists featured in our gallei-ies over the past year were from the region, showcasing remarkable work, often as amateurs. The increasing numbei. of applicants for exhibitions and the success of the Open Exhibition reflect the strength of our inclusive approach. We m¢iintain an open-door policy, ensuring free and accessible admission. including facilities for disabled access, to welcoime a diverse audience. The Arts Centre's commitment to delivering joy and inspiration to its visitors remains at thc l)cart of our stralegic vision. The courtyard units were fully occupied throughout the year, contributino iiot only to our revenu¢ but also enhancing the Centre's cultural offerings and character. We have opened an artistic gift shop, which is stocked with unusual an gifts, and this has been well received by our discernin8 CUStomeTS. We hope to further develop this primary purpose Ii'ading activity. The board consistently aligned strategic decisions with our l O-year Stralcgic Plan, 'Working Together - A Strategy for Success., Despite challenges, particularly the sharp rise in energy costs. we remain optimistic about achieving long-terni financial stability. The positive momentum generated by grant awai'ds, the innovative Arts Committee, and the entrepreneurial Events Committee bolsters our confidence. The trustees Lire cornmitted to engaging all stakeholders in securing the Centre's future. Volunteers continue to play a crucial role in delivering our charitable objcctive5, and new policies are now in place to manage and support them effectively. Throughout the year, the Arts Centre has upheld its status as a vital cominunity hub and a sanctuary for artists from all walks of life. By staying attuned to their needs and preserving the historic character of our building, we have cultivated an inclusiv¢ environment where everyone fee15 welcome, safe. and inspired. Our workshops. exhibitions, and perforniances by accomplished musicians and artists have enriched the community, ensuring visitors leave with a sense of anticipation for their next visit. nve5tment policy and objcctives The Arts Centre's formally approved investment policy is to hold funds in il current bank account for dealing with day to day transactions and to hold the reserves separately at the interest-beariiig COITr Charity Investment Fund in the CPAC Investment Account for safety and to maximise returns. The investment policy was reviewed on 13 December 2024. FINANCIAL REVIEW Financial position The Stal¢ment of Financial Activities for the year ended 31 March 2025 accompanies this report. This shows that income for the year increased from £182,340 in 2024 to £214.953. Expciiditure increased from £171,785 in 2024 to £202,523 resulting in a profit of £12,430 in 2025. Reserves policy In line with th¢ Charity Commission'5 expectations, the tn15tees reviewcd their reserves policy on 19 April 2024 and agreed on a realistic. achievable target of maintaining a reserve of £25,000 to cover unforeseen expenditure. The trustees will continue to keep this reserves policy under review in line willi ihe accounting infonnation presented for the 2025- 26 financial year. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its governing document, a deed of trust. diid constitutes a limited company, lirnited by guarantee, as defined by the Companies Act 2006. The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. In February 2025 thc Article5 of Association were updated to bring them in line with change5 in legislation and to clarify the clauses relating to membership. The managetnent of the charity is the responsibility of the trustees, who are listed in this report. Page 3
Castle Park Arts Centre Report of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The Centre is run by a Board of Trustees in line with its approved Articles of Association. Charitable activities are controlled by the Charity Administrator, who is appointed by and accountable to the Board of Trustees. The Charity Administrator is SUPPOrted by two part time caretakers, cleaning staff and volunteers. Trading activities are controlled by a Commercial Manager, who is also appointed and accountable to the Board of Trustees and is supported by two full time catering assistants and local volunteers. The Board of Trustees provides the necessary direction to the Charity Administrator and Commercial Manager. There are currently 5 trustees. Risk management Trustees of Castle Park Arts Centre have a duty to identify. review and assess ihe risks the charity is exposed to ensure appropriate controls are in place to providc rcasonable assurance against fraud and error and to plan for the management of those risks. Comprehensive risk assessments are regularly undertaken, and a risk register is kept up to date, including a financial management framework. REFERENCE AND ADMINISTRATIVF. DETAILS Registered Company number 01588845 (England and Wales) Registered Charity number 512019 Rcgistered officc Castle Park Arts Centre Off Fountain Lane Frod5ham Cheshire WA6 6SE Trustees Dr H A Hoather P Vickery Mrs S Burkey J Wathen Mrs D C Vickery (appointed 14.2.25) Independent Examin¢r KPD Business Services Limited The Old Shippon Bradley Frodsham Cheshire WA6 7EP Approved by order of the board of trustees on and Signed on its behalf by.. Mrs S Burkey - Trustee Page 4
Independent Examiner's Report to the Trustees of Castlc Park Arts Centre Independent examiner's report to the trustees of Castle Park Arts Centre ('the Company,) I report to the charity trustees on my examination of the accounts of the Coinpany for the year ended 31 March 2025. Responsibilities 8nd basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not requircd to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my c.Kaimination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 201 l Act,). In CiLI'rying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirni that no matters have coine to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as rcquired by Section 3 86 of the 2006 Act. or the accounts do not accord with those records. or 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 nol a matter considered as part of an independent examination. or the accounts have not been prepared in accordance with the Inethods 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 iii Ilic UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs Kathr Davie5 KPD Business Services Limited The Old Shippon Bradley Frodsham Cheshire WA6 7EP Date: Page 5
Castle Park Arts Centre Statement of Financial Activitie5 for the Year Ended 31 March 2025 2025 2024 Marshes Community Benefit Fund lJnrestricted fund Restricted fund Total funds Total funds Note5 INCOME AND ENDOWMENTS FROM Donations and legacies 2,485 12,000 14,485 5,776 Other trading activities 200,468 200,468 176.564 Total 202,953 12,000 214,953 182,340 EXPENDITURE ON Raising funds 83,883 83,883 78,538 Charitablc activities Activity 106,640 12,000 118,640 93,247 Total 190,523 12,000 202,523 171,785 NET INCOME 12,430 12.430 10.555 RECONCILIATION OF FUNDS Total funds brought forward 187.904 187.904 177,349 TOTAL FUNDS CARRIED FORWARD 200,334 200,334 187,904 The noles fonn part of these financial statements Page 6
Castle Park Arts Centre Balance Sheet 31 March 2025 2025 2024 Marshes Community Benefit Fund Unrestricted fund Restricted fund Total funds Total funds Notes FIXED ASSETS Tangible assets 135,510 135.510 139,449 CURRENT ASSETS Debtors Cash at bank and in hand 6.352 73,577 6,352 73,577 2,491 72,446 79.929 79,929 74,937 CREDITORS Amounts falling due within one year (15,105) (15,105) (26,482) NET CURRENT ASSETS 64,824 64,824 48,455 TOTAL ASSETS LESS CURRENT LIABILITIES 200,J34 200,334 187,904 NET ASSETS 200,334 200.334 187,904 FUNDS Unrestricted funds io 200,334 187,904 TOTAL FUNDS 200,334 187.904 The charitable company is entitled to ex¢mption from audit under Section 477 of the Companie5 Act 2006 for the year ended 31 March 2025. The members have not required th¢ company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of thc Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records ih£tt comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of Ihc state of affairs of the charitable company as at the end of each financial year and of its surplu5 or deficit foi. each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companie5 Act 2006 relating to financial statements, so far as applicable to the cli(Iritable company. (b) The notes form part of these financial Statements Page 7 continued...
Castle Park Arts Centre Balance Sheet- continued 31 March 2025 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small cornpanies regime. The financial statements were approved by the Board of Trustees and authorised for issue and were signed on its behalf by: on H A Hoather - Trustee S Burkey- Trustee The notcs forni part of these financial statements Page 8
Castle Park Arts Centre Notes to the Financial Statements for the Year Ended 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financial statement5 The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing tliLii- accounts in accordance with the Fitlancial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Siaiidard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of financial Activities once the charity has entitlement to the nds. it is probable that the income will be received and the amounl can bc Incasured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a Icgjdl or constructive obligation committing the charity to that expenditure, it is probable that a transfer of econoiiiic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendilurc is accounted for on an accruals basis and has been classified under headings that aggregate all cost related i() Ilic cal¢gory. Where costs cannot be directly attributed to particular headings they have been allocated to aclivities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order lo write off each asset over its estimated use] life. Freehold property lrnprovements to propety Plant and machinery Fixtures and fittings Computer equipment 20/0 on cost 2% oncost I 00/0 on reducing balance l O /0 on reducing balance 250/D on reducing balance Taxation The charity is exempt from corporation tax on its charitable activilics. Fund accounting Unrestricted fund5 can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposcs within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for pai'licular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Hire purchase and leasing commitments Renta15 paid under operating leases are charged to the Statemenl of Financial Activities on a straight line basis over the period of the lease. Pension eost5 and other post-retiretnent benefits The charitable company operates a defined contribution pension sclieme. Contributions payable to the charitable cornpany's pension Scheme are charged to the Statement of Financial Activitie5 in the period to which they relate. Page 9 continued...
Castle Park Arts Centre Notes to the Financial Statements - continucd for the Year Ended 31 March 2025 OTHER TRADING ACTIVITIES 2025 2024 Art Centre Activities Room lettings Cafe Sales 26.270 59,380 114,818 33,921 44,680 97,963 200,468 176,564 NET INCOME/(EXPENDITURE) Net incomel(expenditure) is stated after Chargin(CredItIng)= 2025 2024 Depreciation - owned assets Hire of plant and machinery 3.939 876 3,941 997 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Tru5tees' expense5 There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly number of employees during the year was as follows: 2025 2024 Administration Security Cafe Staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE SI'ATEMENT OF FINANCIAL ACTIVITIES Marshes Community Benefit Fund Unrestricted nd Restricted fund Total funds INCOME AND ENDOWMENTS ROm Donations and legacies 5,776 5,776 Other trading activitie5 176.564 176,564 Total 182,340 182,340 EXPENDITURE ON Raising funds 78.538 78,538 Page 10 continued...
Castle Park Arts Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Marshe5 Community Benefit Fund Unrestricted fijnd Restricted fund Total funds Charitable activities Activity 93,247 93,247 Total 171,785 171,785 NET INCOME 10,555 10,555 RECONCILIATION OF FUNDS Total funds brought fonvard 177,349 177,349 TOTAL FUNDS CARRIED FORWARD 187,904 187,904 TANGIBLE FIXED ASSETS Improvements to property rre¢hold property Plant and machinery COST At l April 2024 and 31 March 2025 106,734 45,313 2.626 DEPRECIATION At l April 2024 Charge for year 14,943 2,135 5,740 906 1,615 112 At 31 March 2025 17,078 6.646 1,727 NET BOOK VALUE At 31 March 2025 89,656 38,667 899 At 31 March 2024 91.791 39,573 1,01 I Page 11 continued...
Castle Park Arts Centre Notes to the Financial Statements - continucd for the Year Ended 31 March 2025 TANGIBLE FIXED ASSETS- continued Fixtures and fittings Computer equipment Totals COST At l April 2024 and 31 March 2025 51,215 2,767 208,655 DEPRECIATION At l April 2024 Charge for year 44,141 786 2,767 69,206 3,939 At 31 March 2025 44,927 2.767 73,145 NET BOOK VALUE At 31 March 2025 6,288 135.510 At 31 March 2024 7,074 139,449 DEBTORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2025 2024 Trade debtors VAT 4,073 2,279 1.817 674 6.352 2.491 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Other creditors Accrued expenses 662 623 13,820 3,779 516 22.187 15,105 26,482 io. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund 187,904 12,430 200,334 TOTAL FUNDS 187.904 12,430 200.334 Page 12 continued..
Castle Park Arts Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 io. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fvnd 202,953 (190,523) 12,430 Restricted funds Marshes Community Benefit Fund 12,000 (12,000) TOTAL FUNDS 214,953 (202.523) 12,430 Comparatives for movement in funds Net movement in funds At 31.3.24 Ai 1.4.23 Unrestricted funds General fund 177,349 10,555 187,904 TOTAL FUNDS 177,349 10,555 187,904 Comparative net movement in funds. included in the above are a5 f()Ilows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 182,340 (171,785) 10,555 TOTAL FUNDS 182,340 (171,785) 10,555 A current year 12 months and prior year 12 months combined posilion 15 as follows- Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 177,349 22,985 200,334 TOTAL FUNDS 177.349 22,985 200,334 Page 13 continued...
Castle Park Arts Centre Notes to the Financial Statements - continued for the Year Ended 31 March 2025 io. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in thnds Unrestricted funds General fund 385,293 (362,308) 22,985 Restricted funds Marshes Community Benefit Fund 12,000 (12,000) TOTAL FUNDS 397,293 (374,308) 22,985 RELATED PARTY DISCLOSUIIF.S There were no related party transaclions for the year ended 31 March 2025. Page 14
Castle Park Arts Centre Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donations and legacies Donations and gifts Grants 2,485 12.000 5,776 14,485 5,776 Other trading activities Art Centre Activities Room lettings Cafe Sales 26.270 59,380 114,818 33,921 44,680 97.963 200,468 176,564 Total incoming resources 214,953 182,340 EXPENDITURE Other trading activities Purchases Wages Social security Pensions 26,785 52,913 4,185 25,299 50,133 2,920 186 83,883 78,538 Charitable activities Caretaker costs Hire of plant and machinery Rent. rates &nd water Insuranc¢ Light and heat Telephone pps Adverti5itLg and website costs Sundry expenses Maint¢nan¢e and cleaning Arts Centre Activities Costs Freehold property Improvements to property Plant and machinery Fixtures and fittings 2,447 997 15,093 4,859 14,197 1,106 518 1,453 318 8,466 2.582 2.135 906 112 786 876 9,836 5,253 11,864 1,355 61 907 1,355 28,566 4,919 2,135 906 112 786 68.931 55,975 Support costs Finance Bank charges 2,022 2,287 This page does not fonn part of the ststutory finiincial statements Page 15
Castle Park Arts Centre Detailed Statement of Financial Activities for the Year Ended 31 March 2025 2025 2024 Finance Governance costs Wages Social security Pensions Accountancy fees Legal fees Professional fees 35,351 26,038 2,672 888 1,626 ,014 ,572 750 9,000 3,750 47,687 34,985 Total resources expended 202.523 171.785 Net income 12,430 10,555 This page does nol forni part of the statutory finaT]cial statements Page 16