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2024-04-05-accounts

COMPANY REGISTRATION NUMBER: 02383592 CHARITY REGISTRATION NUMBER: 701598

Newcastle Arts Centre Trust Limited Company Limited by Guarantee Unaudited Financial Statements

5 April 2024

G W ACCOUNTANTS LIMITED

Independent Examiner 1 Jesmond Business Court 217 Jesmond Road Newcastle upon Tyne NE2 1LA

Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Financial Statements

Year ended 5 April 2024

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 11
Statement of financial activities (including income and
expenditure account) 12
Statement of financial position 13
Notes to the financial statements 14

Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

Structure, governance and management (continued)

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 5 April 2024.

Reference and administrative details

Registered charity name Newcastle Arts Centre Trust Limited Charity registration number 701598 Company registration number 02383592 Principal office and registered 67 Westgate Road office Newcastle upon Tyne Tyne & Wear NE1 1SG The trustees Mr M Tilley Mrs H E Burns Mr J Skill MR J B McNiven Mr P R Grainger Mr P C Kenrick Miss Kubra Mujde (Maternity Leave) Mrs A Fuller Mr J Old Company secretary Mrs H E Burns Independent examiner GW Accountants Ltd. 1 Jesmond Business Court 217 Jesmond Road Newcastle upon Tyne NE2 1LA Bankers Royal Bank of Scotland Newcastle upon Tyne Branch 1 Hardman Boulevard Manchester M3 3AQ

- 1 -

Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

Structure, governance and management (continued)

Structure, governance and management

Governing Document

Newcastle Arts Centre Trust Limited is a company limited by guarantee and not having a share capital governed by its Memorandum and Articles of Association dated 1985 and incorporated 15 May 1989. It is a registered charity with the Charity Commission. Anyone over the age of 18 can become a member of the Company and there are currently eight members each of whom agree to contribute £1 in the event of the charity winding up.

Appointment of Trustees

As set out in the Articles of Association the trust may from time to time increase or reduce the number of trustees. The trustees have the power at any time to appoint a trustee either to fill a casual vacancy or as an addition to the trust.

All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring and requesting nominations for the AGM. When considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed.

Trustee Induction and Training

New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity.

Organisation

The board of trustees, administers the charity. The board meets quarterly and there are subcommittees covering development, membership, finance and audit which meet more regularly.

Related Parties

The charity has a close relationship with Newcastle Arts Centre Limited which shares the Trust's passion for arts development. The trust benefits from the building management and trading activity of the company. The Trust is a registered shareholder of Newcastle Arts Centre Limited.

Risk Management

The trustees have a risk management strategy which comprises:

An annual review of the risks the charity may face; and aims to minimise any potential impact on the charity should those risks materialise.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

Objectives and activities

The objectives of the charity are:

To foster and promote the maintenance, improvement and development of knowledge understanding and appreciation of the arts amongst the inhabitants of The United Kingdom of Great Britain and Northern Ireland and in particular in the North East of England and to facilitate the same, establish and artists resource centre for the community and to provide workshops, studio, educational, performance and exhibition facilities and resources as a public service.

Newcastle Arts Centre Trust programmes the gallery and Black Swan Venue. The gallery promotes wall hung work by living artists and designers and presents exhibitions of historic interest. Most shows have a strong local connection to reveal and encourage northern talent. The gallery is admission free and is open six days a week.

The Black Swan Venue is a studio theatre in the basement of the Arts Centre. It promotes music, dance, theatre and film events and presentations. It also has a 'village hall' function where it is often used for meetings, training workshops and social events.

The Jazz Café which was previously in Pink Lane is now based within the Arts Centre building, here the Trust supports a successful programme of live music events.

The trust also makes available studios and conference rooms for arts and design projects. The room hire fees are the main income of the trust which has been supplemented by donations from Newcastle Arts Centre Limited.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

Achievements and performance

The trust was founded in 1989 and the Arts Centre has provided studio, exhibition and performance space for most of the significant organisations and many artists that have worked in Newcastle. The trust's studio facilities have been well used and maintained.

Room Hire

Income for this period from room hire was £69,165 an increase of 37% on the previous year £43,501 significant growth compared with pre pandemic income of £43,583

Notable hires for this period include:

ARTS & CULTURE

CHARITY & COMMUNITY

Moving Parts Arts Reed Wellbeing - Diabetes Prevention sessions SalSeduce Young Lives Vs Cancer Creative England Big Things Have Small Beginnings Painting with Skill Bump and Baby Club Young Women's Film Academy Streetwise North The Writing Squad British Exploring Society Generator North East TNL Community Fund Lucy Hudson Dance Show RMT The Twisting Ducks Book Club Royal Television Society The Young Foundation Helix Arts Northumberland Archaeological Group The Actors Forge Railfutures North East North East Screen Stephenson Locomotive Society MHT Drag Act Roadshow NSPCC Media Trust HFT Bradford Northern Architectural Association Connected Voice Royal Society for The Arts RSPB Operating Theatre Tynedale Hospice at Home Katie Galloway Photography Skills for People Arts Council England Make 2nds Count House of Trixi - Burlesque Showcase/Festival OMNIBUS Susan French Events DEVELOPMENTAGENCIES/LOCAL EDUCATION AUTHORITY Explore Lifelong Learning Sunderland Software City Newcastle University - Chinese International Newcastle City Council Arts Development Team Film Festival Creative Central Newcastle Newcastle University Theatre Society House Of Commons People and Culture Team Newcastle College Fine and Applied Arts Degree Show Newcastle University - Bioknit (Assembly House) Newcastle University School of Architecture, Planning & Landscape COMMERCIAL David Gray Solicitors Marston's Brewery

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

Tenants

The seven Artist/Creative Industry studios were fully occupied during this period with a rental income of £28,477 an increase of the previous year £23,968 of 18.8%

Studio holders for this period included:

The North of England Art Club continues to be a supporter of the Trust in their continued tenancy at the Arts Centre. The Club has over 80 members and has a full programme of artistic activities, workshops, discussions and exhibitions. The Club welcomes new members.

Ruth Bond & Helene Brandon - Artists Aidan Doyle - Artist Young Women’s Film Academy - Organisation Sian Jordan - Artist Ruth McCann – Bookbinder Jed Buttress - Sculptor

Programme

Art Courses

The Trust continued to run a popular programme of adult educational art courses; which during this period was managed by Jed Buttress the Course Coordinator. We see this to be an increasingly important educational role in times of diminished funding opportunities in adult education. We have been encouraged that the course programme continues to be strong, with many courses selling out and course vouchers proving popular on the run up to Christmas. The weekly life drawing sessions guided by Mark Bletcher continue to prove very popular.

Income from course fees for 2023/24 was £ 65,792 a 45% increase on the previous year of £45,206 and an increase of 36% on the pre pandemic 2019/20 figure of £41,884. The majority of courses programmed within this year 2023/24 were at the £60/£95 value with life drawing classes at £15.

The course programme for ran 103 courses (62 last year) plus 33 Life Drawing classes. This year 17 (12 last year) part time course tutors were employed by the Trust as detailed in the table below. Tutor fees amounted to £25,749 an increase of 2.97% on last year at £25,006 (£935 of this year’s fees was funded by Creative Central Newcastle as part of the Brass Tacks project).

COURSES 2023/24
STEVE LYON BOWES
Expressive Portraits in Charcoal
Portrait Painting in Oils – The Layered Method
Fundamentals of Acrylic Painting
Art Essentials: Drawing Skills
Art Essentials: Colour Mixing
Introduction to Portrait Drawing.
Figure Drawing Without a Model.
Landscape Painting in Oils.
Painting Secrets of the Old Masters.
Art Essentials: Basic Drawing Skills (x2).
Art Essentials: Acrylics.
Exploring Drawing Mediums: Charcoal.
Three Colour PortraitDrawing.		 DR CHUN CHAO CHIU
Flower Painting in Watercolour.
Urban Sketching in Watercolour and Pen (x2).
Summer Landscapes in Watercolour.
Introduction to Chinese Brush Painting. (x2).
Introduction to Botanical Drawing.
Chinese Brush Painting Flowers.
Introduction to Watercolour Painting.
Seascapes in Watercolours.
Winter Landscapes in Chinese Brush and
Watercolour.
Further Botanical Drawing and Painting.
Spring Flowers in Chinese Brush Painting.
SkyLandscapesin Watercolour.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

**Year ended 5 ** April 2024
JOANNA BOURNE
Creating a 2-colour Woodcut Print (x4).
Tetrapak Intaglio Printmaking.		 ANGELA REED
Copperplate Calligraphy (x2).
Calligraphy for Christmas.
HANNAH FOULDS
Acrylics: Painting with Texture (Acrylics) (x2).		 JED BUTTRESS
Making Mandrakes (x2).
Monster Making.
Sculpting Dioramas.
JONATHAN MARSHALL
Portrait Painting in Acrylic.
Working with Charcoal (x2).
Introduction to Single-cut Lino Printing.
Portrait Painting in Acrylics.
Introduction to Abstract Painting (x2).
Introduction to Acrylic Painting.		 EDWIN MORETON
Textural and Gestural Abstraction (experimenting
with innovative acrylic mediums).
Urban Landscapes in Oils.
Imaginative Acrylics Painting Workshop
Expressive Landscapes in Acrylics.
Expressive Portrait Painting in Acrylics.
Expressive Abstract Painting in Acrylics.
Drawing Portraits Like a Pre-Raphaelite.
Drawing and Painting Cats.
DR AIDAN DOYLE
Working with the Sketchbook.
Portraits in Pastels, Charcoal and Pencil.
Drawing with Pastels.
Man’s Best Friend: Animals in Art.
Working with the Sketchbook.
Noir and the Gothic: Monochromatic Ink Painting.
The Expressive Landscape in Pastels.
Confidence with Colour.
Portrait Drawing in Charcoal.
Pastel Portraits.		 MARK BLETCHER
Life Drawing Late – Weekly facilitator.
Oil Painting from Start to Finish.
Life Drawing Now (x3).
Oil Painting Sunflowers.
Expressive Inks.
Oil Painting: Self Portraits.
BETHANY STEAD
Zoomorphic Sculpture.
Ceramic Sculpture.
Drawing Dreamscapes.
Sculpting Air Dry Clay.
Beginners Ceramics.		 NICK CHRISTIE
Screen-print with Paper Stencils (x2).
Dry Point Etching.
Festive Screen Printing!
Introduction to Gelli Plate printing.
BEX MASTERS
An Introduction to Gold Leaf.		 NAT LOFTUS (Brass Tacks Artist)
Absurd Adverts: Subverting the Domestic through
Collage
KITTY L M MCKAY (Brass Tacks Artist)
Out Out: A Plasticine Painting Workshop.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

The Late Shows Saturday 20[th] May 2023

This year the Arts centre staff created an interactive spectacle – After Leonardo. Various large and smaller scale drawing machines were devised and built, and visitors were invited to create artworks using the different apparatus. Marc Parrett of the Object Project brought his animatronic artwork in action and his performance inspired by the York floods where he battled against flowing water to paint watercolour portraits of visitors. The Black Swan got into the party mood with the very popular five-piece Latin band Bellavana. The Young Women’s Film Academy presented a film screening from their project. The shops stayed open, and visitors enjoyed our bustling courtyard and open art studios with catering by street food vendors North East Beef. The Assembly House, 55 Westgate Road was a grand setting for the Newcastle College University Centre BA (Hons) Fine Art degree show.

Heritage Open Days 9th September 2023

For Heritage Open Days the Assembly House at 55/57 Westgate Road was open to the public. Mike Tilley gave 3 tours around the building and gave an informative talk titled ‘From Mansion House to Art House’. Visitor were invited to discover the history of the city’s oldest arts building that stands on the line of Hadrian’s Wall which was built as the boundary of the Roman Empire, it stood within the City Walls that for centuries defended Newcastle as an outpost of the English Monarchy.

EXHIBITION PROGRAMME

We had a full programme of exhibitions this year, Jed Buttress, the Course and Exhibitions Co-ordinator worked hard to produce an interesting and varied programme in both the gallery, showcase and Assembly House.

EXHIBITION PROGRAMME
We had a full programme of exhibitions this year, Jed
worked hard to produce an interesting and varied
Assembly House.		 Buttress, the Course and Exhibitions Co-ordinator
programme in both the gallery, showcase and
EXHIBITIONS 2023/24
STEVE LYON-BOWES(ART TUTOR)
LOCKDOWN PORTRAITS
29th April – 27th May 2023
THE SHOWCASE
The paintings show the journey from wanting to be
outside, to the actuality of emerging from the
lockdown, and the different feelings that this
brought.		 NEWCASTLE COLLEGE
‘BA FINE ART DEGREE SHOW’
12th– 20thMay 2023
THE ASSEMBLY HOUSE
Final degree project work exhibited and curated by
the fine art students from Newcastle College.
MIKE CLAY
THE BIG BEAST AND OTHER STORIES
24th June- 22nd July 2023
GALLERY
Mike paints characterful observations and stories of
humour and empathy from the community where
he lives in Sunderland and satirical comments on
the “chaotic and doctrinaire approach by our
government”
to
asylum
seekers,
climate
emergency and the cult of political personality.
These paintings represent a selection from the last
three year’s work.		 NORTHERN SUMMER EXHIBITION
PRESENTED BY THE NORTH OF ENGLAND
ART CLUB AND NEWCASTE ARTS CENTRE
29thJuly – 26thAugust 2023
GALLERY
This
inaugural
exhibition
presented
works
submitted by the public and chosen by a selection
panel. The opening event was very well attended
and gave the opportunity for amateur artists to
display their work (some for the first time) alongside
more established artists. The NOEAC volunteers
had the challenge of hanging this show of the many
and varied artworks which culminated in a
successfuleventforall involved.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Trustees' Annual Report (Incorporating the Director's Report)(continued) Trustees' Annual Report (Incorporating the Director's Report)(continued)
Year ended 5 April 2024
IN THE ROUND
A Brass-Tacks Exhibition
9th September – 14th October 2023
Featuring Iris Ollier, Kitty L M McKay, Nat Loftus
and Place Holder
Curated by Jed Buttress
GALLERY
Supported
by
the
Creative
Central:
NCL
programme, funded by the North of Tyne
Combined Authority and Newcastle City Council.
this open call exhibition showcased four local
artists combining film, painting, collage and
sculpture. Collaboratively, the artists tell shared
stories of strange spaces, neglected nostalgia and
abandoned nautical nightclubs.		 CHINESE INDEPENDENT FILM ARCHIVE
华语独立影像资料馆(CIFA) Launch Programme
25th September – 6thOctober 2023
ASSEMBLY HOUSE/BLACK SWAN THEATRE
VENUE.
The launch aimed to showcase the outcome of an
AHRC-funded research project (2019-2024) about
Chinese independent cinema, promote the use of
CIFA in teaching and researching China, and
engage in the discussion of a range of pressing
issues around Chinese independent cinema and
film archives. Through two weeks of launch
activities. They hoped to open a window onto this
unique, important, but marginalised film culture,
draw the attention of professionals and the general
public alike to CIFA, and encourage the use of
CIFA’s collections by students and researchers
from withinand outside Newcastle University
BEX MASTERS(STAFF)
Bare
1st September – 14th October 2023
SHOWCASE
Bex Masters an oil painter born in Scotland, whose work begins and ends with both concealment and
storytelling. She creates fantastical, surreal portraits and, in this exhibition, explores the self-portrait as
an ode to her body.
In the artist’s words, “my body is the one I know the best and yet the one I have to translate into art to
understand properly. I want to thank it for carrying me through life and that’s exactly what this exhibition
is.”
MARK BLETCHER(ART TUTOR)
Blue Like Ash or Smoke
21stOctober – 11thNovember 2023
SHOWCASE
The exhibition is an exploration of the role of myth
in shaping our identity.
Inspired by a contemporary engagement with
historical fragmented texts, including popular
examples like the Iliad, the artist invites us to
wonder what might be lost, obscured, or
transformed by our limited understating of the past,
and how these stories can be retold.		 BRIGHT!
A Christmas Exhibition by the Artists at NAC
11thNovember 2023 – 6thJanuary 2024
GALLERY
An opportunity for the various Artists of the
Newcastle Arts Centre community, Course Tutors,
Studio Holders and Arts Centre Staff to exhibit their
work in a group show.
There was also an opportunity for the artists to
come together socially to build community and
encourage each other creatively.
COUNTERWEIGHT
A Brass Tacks Exhibition
20th January – 24th February 2024
GALLERY
Featuring Sean Alec Auld, Mani Kambo, Laurie
Powell and Bethany Stead. Curated by Jed
Buttress.
Supported
by
the
Creative
Central:
NCL		 The
unveiling
of
‘Les
Demoiselles
de
Boulevard’
by
JONATHAN
MARSHALL
(EXHIBITOR/ART TUTOR)
6th – 16th March 2024
GALLERY
A special unveiling for Jonathan Marshall’s newest
work in his epic Beanery Series. This latest piece
pays homage to the city’s popular cabaret and drag
venueBoulevard and celebratesitsmuch loved

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

programme, funded by the North of Tyne Combined Authority and Newcastle City Council.

A group exhibition exploring ideas of rituals, landscape and myth. Using timeless crafts such as textiles, ceramics and stonework, the artists engage with symbology and structure, etching their shared perspectives and personal mythologies into history with a North-East localised practice.

artists. Jonathan’s work is vast, detailed and incredibly compelling, so we’re thrilled to have him at the Arts Centre once again and to host this outstanding work.

The second of two exhibitions from the ‘Brass Tacks’ project; a six-month programme of events, exhibitions and skills development opportunities for emerging and established artists in Newcastle upon Tyne.

Mycelium Knitting – The Growing Room

Newcastle University BBE 15[th] – 31[st] March 2024 Growing a three-metre-high structure using mycelium (the root network of fungus) and knitted wool. A street level experiment.

Water & People + Confluences workshops

Supported by the UKRI GCRF Water Security and Sustainable Development Hub and Newcastle University. 23rd March – 13th April 2024

Featuring Christie Chan, Aidan Doyle, Ellen Harrold, Maura Hawkes, David de la Haye, Hazel Soper, Sue Spence Curated by Helen Underhill and Cat Button

Alongside creative outputs from community-focused research from the UKRI GCRF Water Security and Sustainable Development Hub by our partners in Colombia, Ethiopia, India, and Malaysia.

The Jazz Café

The bi-weekly Tuesday Jam sessions organised by Paul Grainger continued to be popular. From June 2022 live jazz performances were programmed for the last Tuesday each month as detailed below. The Arts Centre supported the Newcastle Jazz Festival this year with a contribution of £750 (included in performer fees figure). This year the Trust paid performer fees of £6,709 (2022/23 £7,865) a decrease of 14.7% and received ticket sales of £2,070 (2022/23 £2,906) a decrease of 28.8%.

JAZZ CAFE 2023/24 JAZZ CAFÉ PRESENTS The Bold Big Band Lindsay Hannon: Tom Waits for No Man Alice Grace & Pavel Jedrzejewski Zoe Gilby Trio Rivkala The Chet Set Ruth Lambert

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 5 April 2024

FINANCIAL REVIEW

The trust ended the year with a current account bank balance of £10.000 and deposit account of £135,188

Investment powers and policy

To invest the moneys of the Arts Centre Trust not immediately required for its purposes.

The trustees, having regard to the liquidity requirements of operating an arts venue and to the reserves policy have operated a policy of keeping available funds in an interest-bearing deposit account and seek to achieve a rate of deposit interest which matches or exceeds inflation as measured by the retail prices index.

Reserves policy

The trustees have established the level of reserves (that is those funds that are freely available) that the charity ought to have. The trustees therefore consider that the ideal level of reserves as at 5[th] April 2023 would be £80,000 they have further agreed that this amount may fluctuate during the financial year on the condition that it is restored within reasonable time on the approval of the board.

Plans for furture periods

This year we have again achieved our target for reserved funds. The trust believes that it is still in a position to invest in the programme development of the Arts Centre. Towards this end a new plan is being considered and the trust feels confident that it can establish productive partnerships for creative activity. In support of this the trust still hopes to enlarge its membership and is working in part towards developing relationships with other arts organisations and individuals. We will continue to market the performance, conference and workshop spaces to increase their use and continue to promote adult art education courses with a developing programme. The Trust is also to work in partnership with Newcastle Arts Centre Limited in the development of 55/57 Westgate Road and its use as “Art House”. In addition, the Trustees have agreed that the trust can contribute to the development of the existing spaces creating a larger accessible performance/conference space on the ground floor of the Arts Centre.

The Trust this year (2022/24) continued to support the employment of the Programme and Course Coordinator but not a Graphic Designer as in previous years. There was an interim period whilst recruiting for a new Art Course Coordinator and a new post of Trust Administrator was created from February 2024.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 12 December 2024 and signed on behalf of the board of trustees by:

Mr M Tilley Trustee

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Newcastle Arts Centre Trust Limited

Year ended 5 April 2024

I report to the trustees on my examination of the financial statements of Newcastle Arts Centre Trust Limited ('the charity') for the year ended 5 April 2024.

Responsibilities and basis of report

The trustees are also the directors of the company for the purposes of company law are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Independent examiner's statement

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

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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).

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.

GW Accountants Ltd. Independent Examiner

1 Jesmond Business Court 217 Jesmond Road Newcastle upon Tyne NE2 1LA

12 December 2024

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 5 April 2024

2024 2023
Unrestricted
fundsTotal funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 5 13 13 613
Charitable activities 6 183,513 183,513 117,800
Investment income 7 1,709 1,709 684
-------------------------------- -------------------------------- --------------------------------
Total income 185,235 185,235 119,097
================================ ================================ ================================
Expenditure
Expenditure on charitable activities 8,9 176,661 176,661 167,572
Other expenditure 11 478 478 –
-------------------------------- -------------------------------- --------------------------------
Total expenditure 177,139 177,139 167,572
================================ ================================ ================================
-------------------------------- -------------------------------- --------------------------------
Net income/(expenditure) and net movement in funds 8,096 8,096 (48,475)
================================ ================================ ================================
Reconciliation of funds
Total funds brought forward 185,690 185,690 234,165
-------------------------------- -------------------------------- --------------------------------
Total funds carried forward 193,786 193,786 185,690
================================ ================================ ================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 14 to 21 form part of these financial statements.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

5 April 2024

5 April 2024
2024 2023
Note £ £ £
Fixed assets
Tangible fixed assets 15 420 420
Current assets
Debtors 16 116,737 97,256
Cash at bank and in hand 145,572 133,360
-------------------------------- --------------------------------
262,309 230,616
Creditors: amounts falling due within one year 17 60,533 30,547
-------------------------------- --------------------------------
Net current assets 201,776 200,069
-------------------------------- --------------------------------
Total assets less current liabilities 202,196 200,489
Creditors: amounts falling due after more than
one year 18 (8,410) (14,799)
-------------------------------- --------------------------------
Net assets 193,786 185,690
================================ ================================
Funds of the charity
Unrestricted funds 193,786 185,690
-------------------------------- --------------------------------
Total charity funds 19 193,786 185,690
================================ ================================

For the year ending 5 April 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 12 December 2024, and are signed on behalf of the board by:

Mr M Tilley Trustee

The notes on pages 14 to 21 form part of these financial statements.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 5 April 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 67 Westgate Road, Newcastle upon Tyne, Tyne & Wear, NE1 1SG.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

A Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

B Going concern

There are no material uncertainties about the charity's ability to continue.

C Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102.

D Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

E Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

3. Accounting policies (continued)

F Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

G Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

H Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

I Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment - 25% straight line

J Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

K Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

Newcastle Arts Centre Trust Limited is a company limited by guarantee and accordingly does not have a share capital.

Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Donations
Donations 13 13 613 613
============== ============== ============== ==============

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

6. Charitable activities

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Rent received 28,477 28,477 23,968 23,968
Room hire 72,966 72,966 43,501 43,501
Gallery income 4,471 4,471 1,237 1,237
Jazz Cafe income 2,852 2,852 2,906 2,906
Course Fees 69,319 69,319 45,206 45,206
Equipment hire 5,428 5,428 887 887
Other income from charitable activities – – 95 95
-------------------------------- -------------------------------- -------------------------------- --------------------------------
183,513 183,513 117,800 117,800
================================ ================================ ================================ ================================
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Bank interest receivable 1,709 1,709 684 684
======================= ======================= ============== ==============
8. Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Events & performances 79,587 79,587 82,148 82,148
Trust event costs 80,195 80,195 72,655 72,655
Support costs 16,879 16,879 12,769 12,769
-------------------------------- -------------------------------- -------------------------------- --------------------------------
176,661 176,661 167,572 167,572
================================ ================================ ================================ ================================
9. Expenditure on charitable activities by activity type
Activities
undertaken Support Total funds Total fund
directly costs 2024 2023
£ £ £ £
Events & performances 79,587 – 79,587 82,148
Trust event costs 80,195 – 80,195 72,655
Governance costs – 16,879 16,879 12,769
-------------------------------- ---------------------------- -------------------------------- --------------------------------
159,782 16,879 176,661 167,572
================================ ============================ ================================ ================================

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

10. Analysis of support costs

Analysis of
support costs
activity 1 Total 2024 Total 2023
£ £ £
Premises 614 614 –
Communications and IT 9,570 9,570 –
Finance costs 2,640 2,640 2,579
Accountancy fees 3,456 3,456 2,562
Support costs - Consultancy Fees – – 7,628
Legal and other professional fees 600 600 –
---------------------------- ---------------------------- ----------------------------
16,880 16,880 12,769
============================ ============================ ============================

11. Other expenditure

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Activity Costs 478 478 – –
============== ============== ============== ==============
ndependent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,808 2,562
======================= =======================

12. Independent examination fees

Fees payable to the independent examiner for: Independent examination of the financial statements

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as The total staff costs and employee benefits for the reporting period are analysed as follows:
2024 2023
£ £
Wages and salaries 19,191 26,389
============================ ============================

The average head count of employees during the year was 1 (2023: 2). The average number of full-time equivalent employees during the year is analysed as follows:

2024 2023
No. No.
Number of staff 1 2
============== ==============

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

14. Trustee remuneration and expenses

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Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

15. Tangible fixed assets
Equipment Work of Art Total
£ £ £
Cost
At 6 April 2023 and 5 April 2024 1,404 420 1,824
======================= ============== =======================
Depreciation
At 6 April 2023 and 5 April 2024 1,404 – 1,404
======================= ============== =======================
Carrying amount
At 5 April 2024 – 420 420
======================= ============== =======================
At 5 April 2023 – 420 420
======================= ============== =======================
16. Debtors
2024 2023
£ £
Trade debtors 22,683 31,426
Amounts owed by undertakings in which the charity has a
participating interest 33,263 33,392
Prepayments and accrued income 60,715 32,438
Other debtors 76 –
-------------------------------- ----------------------------
116,737 97,256
================================ ============================
17. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,150 6,150
Trade creditors 34,000 6,498
Accruals and deferred income 20,260 17,725
Social security and other taxes – 84
Other creditors 123 90
---------------------------- ----------------------------
60,533 30,547
============================ ============================
18. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 8,410 14,799
======================= ============================

- 20 -

Newcastle Arts Centre Trust Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 5 April 2024

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
6 April 2023 Income Expenditure 5 April 2024
£ £ £ £
General funds 185,690 185,235 (177,139)
193,786
================================ ================================ ================================ ================================
At At
6 April 2022 Income Expenditure 5 April 2023
£ £ £ £
General funds 234,165 119,097 (167,572)
185,690
================================ ================================ ================================ ================================
Analysis of net assets between funds
Unrestricted Total Funds
Funds 2024
£ £
Tangible fixed assets 420 420
Current assets 262,309 262,309
Creditors less than 1 year (60,533)
(60,533)
Creditors greater than 1 year (8,410)
(8,410)
-------------------------------- --------------------------------
Net assets 193,786 193,786
================================ ================================
Unrestricted Total Funds
Funds 2023
£ £
Tangible fixed assets 420 420
Current assets 230,616 230,616
Creditors less than 1 year (30,547)
(30,547)
Creditors greater than 1 year (14,799)
(14,799)
-------------------------------- --------------------------------
Net assets 185,690 185,690
================================ ================================

20. Analysis of net assets between funds

- 21 -