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2026-03-31-accounts

MARKETPLACE ARTS

REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2026

MARKETPLACE ARTS Contents For the Year Ended 31 March 2026

Page
Charity Reference & Administrative Details 1-2
Trustees Annual Report 3-14
Statement of Trustees Responsibilities 15
Independent Examiners Report 16
Receipts and Payments Account 17
Charity Balance Sheet 18
Notes forming parts of the financial statements 19-30

MARKETPLACE ARTS Charity Reference & Administrative Details For the Year Ended 31 March 2026

Country of registration: England and Wales
Charity registration number: 800929
Registered office address: March Town Hall
Market Place
March
Cambridgeshire
PE15 9JF
Trustees: Trustees serving during the year and up to the date of
this report were as follows:
Katherine Elizabeth Nightingale
Godfrey Brian Smith
Joanne Gray
Bradley Donaldson (resigned: 29/1/2026)
Barbara Watts (resigned: 29/1/2026)
Pat Norris (resigned: 29/1/2026)
Chris Bell (appointed: 29/1/2026)
Mark Haydon (appointed: 29/1/2026)
Chief Executive Officer Rob Drummer
Staff Claire Sawford, Programme Manager
Carly Robinson, Creative Producer (Fenland)
Maddie Exton, Creative Producer (West Suffolk)
Kirsten Parriss, Engagement Manager
Website www.marketplacearts.org.uk

1

MARKETPLACE ARTS Charity Reference & Administrative Details (continued) For the Year Ended 31 March 2026

Bankers Wise Payments Ltd
1st Floor
Worship Square
65 Clifton Street
London
EC2A 4JE
National Westminster Bank Plc
250 Bishopsgate
London
EC2M 4AA
Independent Examiners Jane Ascroft Accountancy Ltd
Enterprise House
Harmire Enterprise Park
Barnard Castle
County Durham
DL12 8X

2

MARKETPLACE ARTS Report of the Trustees For the Year Ended 31 March 2026

This document comprises the Trustees’ annual report and the independently examined financial statements of Marketplace Arts for the year ended 31 March 2026.

Reference and administrative information set out on pages 1 to 2 forms part of this report.

About Marketplace Arts

Marketplace Arts was constituted as a charity on 1 April 2025 after eleven years of Arts Council England (ACE) funding through their Creative People and Places programme. Operating for ten of these years as a significant project within a consortium of partners. As of 1 April 2025, the new charity took full responsibility for the future funding relationship with ACE (funding secured to 31 March 2029).

Marketplace Arts was able to achieve this transition through the renaming of an existing charity (Fenland & District Arts Association, founded in 1989). The existing charity delivered a community cinema club but had no salaried staff or other programmes. The community cinema club is now delivered by Marketplace Arts and the staff team were employed as of 1 April 2025.

Marketplace Arts is a community of creative people and partners across Fenland in Cambridgeshire and West Suffolk. We believe the arts have the power to bring people together and make our part of the world better for everyone. We work closely with people living in 7 market towns: Brandon, Chatteris, March, Whittelsey, Newmarket, Wisbech and Mildenhall as well as those who live in the surrounding countryside.

Marketplace Arts creates, produces and programmes very different kinds of art - from music to performance, from parades to light shows, from visual arts and crafting projects. Whatever we do, our local communities are always at the heart of it. We want everyone here, whatever their background, to get involved and have a say in what they want to see or experience.

Objects of the Charity

Marketplace Arts’s objects are:

To advance the education of the public in the arts by: Encouraging and developing public participation in the performing, visual and other artforms by the presentation of artworks, commissions, concerts, performances, exhibitions and festivals in the districts of Fenland and West Suffolk primarily, as well as in East of England region, Nationally and Internationally. Supporting community wellbeing and capacity building in Fenland and West Suffolk through commissioning of collaborative arts projects addressing issues of place, community, equality and inclusion. Promoting, supporting and developing the creative community of Fenland and West Suffolk including the amateur and voluntary arts sectors and the understanding of collaborative arts practice regionally, nationally and internationally.

These activities are described below.

Our Purpose

Our purpose is to ensure our community has access to the resources, networks and spaces to power their creativity and remake the cultural life of their towns for themselves.

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Our Vision

Through engaging our diverse communities as co-creators we will support the transformation of seven market towns into dynamic, thriving centres for rich cultural exchange.

Our Values

BRAVERY

We will experiment with ambitious ideas but accept that failure is ok so long as we get back out there and try again.

CREATIVITY

We will challenge ourselves to limit repetition, grow everything and pririotise playful, joyful experiences for our communities.

HONESTY

We will take care of our communities by telling no lies, doing no harm and building trust. WELCOMING

We will guarantee diversity, equity and inclusion as fundamental to how we work, always.

Where We Work

Marketplace Arts works across Fenland District in Cambridgeshire and the local authority of West Suffolk. These are largely rural areas with a dispersed population, living mainly in and around seven market towns, from which the Marketplace Arts brand was originally derived.

These towns are:

Larger centres of population and associated infrastructure are located in Peterborough to the north west, Cambridge to the south, Ely between our two areas and Bury St Edmunds to the east. The Fens is a highly distinctive landscape characterised by flat fields, wide skies and numerous natural and manmade waterways. The area’s heritage is closely tied to this landscape, and the human, industrial or technological interventions represented by the draining of the Fens in the 17[th] century, and the resistance to those interventions. Although very different from say former mining communities, it is a place shaped by industrial and landscape change. A sense of distance and isolation can be felt in the flat landscape which arguably shapes some of the cultural dynamics of the places. (And which has practical implications in terms of travel times between towns and villages, especially in Winter). West Suffolk, also bordering Norfolk, where the Fens give way to Breckland is an area of woodland and heath, with sandy soil and plentiful pine trees. There is a distinctive heritage around flint mining, and the major town of Newmarket is dominated by its horse racing industry.

These two areas, which are not adjoining, are different in their community demographics, although they share many characteristics. Both have growing, but ageing populations, with demographic change driven by migration rather than natural change. This includes migration out of Cambridge and London, due to house prices and growth in new housing in both districts, and EU migration into agricultural industries.

Some key patterns within the demographics:

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Our Creative Offer

Marketplace Art’s main programme of work and core creative offer is delivering the Creative People and Places programme, funded by Arts Council England. During the period of 2025-2026 we delivered the extension year of Phase Three (2022-2026).

Creative People and Places

Arts Council England Creative People and Places focuses on parts of the country where involvement in creativity and culture is significantly below the national average. It funds partners in local areas to empower residents to decide what kind of creative activity they want to experience on their doorstep. And it's all made possible thanks to National Lottery players, who raise £30 million for Good Causes each week.

Arts Council England are funding 46 Creative People and Places Programmes across England from April 2026.

Creative People and Places aims to:

5

MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Marketplace Arts’s Business Plan 2025-2026

The Marketplace Arts Business Plan for the period has 4 objectives:

  1. Develop diverse community networks of volunteers and creative activists to encourage growth of cultural ecology through distinctive hyperlocal activity

  2. Produce joyful, accessible high-quality projects and activities that increase appetite and confidence for ambitious and diverse cultural programming.

  3. Unlock new skills, positively impact wellbeing and grow cultural leadership across diverse communities through co-creation with those who might otherwise least engage

  4. Work with strategic partners to influence policy and practice across the area and to leverage new funding for community creativity

Activities and Achievements for 2025/26

During 2025/26, Marketplace Arts successfully transitioned to charitable status and assumed leadership of the Creative People and Places (CPP) programme, ensuring continuity of delivery with no disruption. Alongside establishing the organisation, the charity delivered a high-quality, ambitious programme that significantly increased cultural participation across Fenland and West Suffolk, particularly in areas of historically low engagement.

2025/26 Headline Performance Metrics

“I wouldn't think of myself as artistic, and wouldn't seek out arts events, but have really enjoyed this.”

“This isn't art for the sake of art. It is more inclusive. We are in a part of the area with poor arts provision.”

“It is important to keep these things going, to prove we don't need to rely on AI.”

(Participants at Light Up The Town, 2026)

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

1. Develop diverse community networks of volunteers and creative activists to encourage growth of cultural ecology through distinctive hyperlocal activity

Throughout the year the team invested considerable time in building advisory networks, programming panels and co-creation relationships. We grew our volunteer base and tested new ways of encouraging volunteering from within our communities.

We achieved:

In West Suffolk our Creative Producer joined and supported the development of networks including the Brecks Landscape Trust Partnership and the Brandon Town Events Committee. In Fenland we participated in the Support Fenland Network. We continued to invest in cultural ‘Go See’ trips with members of our community including a trip to Blackburn for the annual Festival of Making.

Engagement with our digital networks in the period increased, including our newsletter and social media channels. Visibility continues to improve with a new focus on our organisational storytelling having an impact locally.

Specifically we:

The Marketplace Arts Cinema Club operates monthly in the town of March and aims to address the needs of an elderly community facing social isolation. Popular classic and recent film releases are presented and a full lunch is served to between twenty and thirty regular attendees of a membership base of over forty.

2. Produce joyful, accessible high-quality projects and activities that increase appetite and confidence for ambitious and diverse cultural programming

During the year, the programme successfully increased participation in arts and cultural activity across Fenland and West Suffolk, particularly in areas with historically low engagement. Audience data demonstrates that a significant proportion of participants were new to Marketplace Arts, with 79% of attendees at the Lumini event in Newmarket reporting that they were first-time audiences.

Across the period we achieved:

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Large-scale events such as Lumini attracted over 1,100 visitors and 368 active participants, evidencing strong demand for accessible, high-quality cultural activity. Participation-led projects also exceeded expectations. For example, the Weekend of Making programme delivered 13 workshops and engaged 464 participants, successfully reaching individuals experiencing loneliness and social isolation—one of the programme’s key social impact priorities.

Across the period we achieved:

The programme has achieved a high standard of excellence in both artistic quality and community engagement. Through a combination of large-scale public events, participatory projects and strategic partnerships. Light Up The Town was delivered in the winter of 2026 after a successful pilot the previous year and engaged 1243 people across the 3 towns.

Participant feedback consistently highlights strong emotional and social outcomes. Many participants reported feeling happier, more connected to their community, and more confident in engaging with creative activity. Evidence from evaluation shows exceptionally high satisfaction levels, with 99% of Lumini attendees reporting a positive experience and describing the event as “unique” and “something completely different”.

Across the programme, activity has been widely described as professional, well organised and visually impactful, particularly in areas where access to high-quality arts provision has historically been limited.

Our 2025/26 projects were:

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

3. Unlock new skills, positively impact wellbeing and grow cultural leadership across diverse communities through co-creation with those who might otherwise least engage

Community co-creation has remained central to programme delivery, in line with the objectives of the Creative People and Places programme. Projects including Lumini and Light Up the Town were developed in partnership with community panels, while locally embedded workshops enabled participation from individuals who would not typically engage in arts activity.

Across the period we:

This approach has strengthened community ownership, increased confidence in creative participation, and built more resilient local networks. Evaluation findings show that participants feel more connected to their communities

CentreStage was a significant project during the year and saw us commission and produce 134 portraits of residents of Wisbech. These portraits were both exhibited and transformed into a series of mini figures that were displayed within a specially designed model of the town’s market place. This heritage project was a huge success at engaging the community over an extended period and saw us partner with expert and high quality creative practitioners (Electric Egg and Jessica Wright) as well as our community partner Shedders & Fixers, Wisbech & Fenland Museum and many others.

‘I found being part of an historical event in 'my time' great fun and I want to find out who was portrayed in the original painting.’ (Centre Stage Participant)

Knowing that Mum’s dementia is winning, we now have a real life, 3D, canvas snapshot of life at Damsons all in one room. Precious memories forever!

(Centre Stage Exhibition Visitor)

4. Work with strategic partners to influence policy and practice across the area and to leverage new funding for community creativity

The programme has strengthened partnerships across the cultural, education, voluntary and public sectors, contributing to the development of a more resilient local cultural infrastructure. Projects such as Weekend of Making established new relationships with schools and national organisations, while events such as Lumini generated additional local partnerships and in-kind support.

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Across the period we:

Evaluation evidence indicates that the programme has contributed to stronger cultural networks across the target towns and has laid the foundations for sustained participation and collaboration in future phases of delivery.

During Light Up The Town we worked with the community in Brandon to co-commission a mural with our partners Brandon Heritage Centre and Brandon Town Council. The mural, painted by Luke McDonnell featured a bespoke design and the addition of UV paint which will last for at least 10+ years. We delivered co-creation activities to the Brandon Teen Chill (being the first external partner to offer them facilitated sessions) and engaged 36 young people in the process. 358 people engaged as audience members with the mural during its unveiling (and the mural has gone on to attract many more residents from across the town).

Evaluation and Assessment of Achievement of Objectives

Marketplace Arts uses various tools to evaluate and assess our achievements against objectives. We make use of Arts Council England tools (Illuminate and Impact and Insight Toolkit) as well as working with an external evaluator year round (Annabel Jackson Associates). Through programme evaluation and ongoing reflection and iterative learning the team assesses our performance quarterly and at the end of each project.

Evaluation has identified several approaches that have been particularly effective during the period:

Key organisational learning includes the need to balance scale with capacity, strengthen communication and marketing across complex projects, ensure artists are equipped with strong engagement skills, and embed legacy planning from the outset. The programme has also identified the importance of providing appropriate support when working with participants with complex needs.

A significant insight from the year is that ambitious, high-quality and highly visible public arts experiences are particularly effective in engaging new audiences in areas of low cultural participation. Large-scale, accessible events act as a catalyst for ongoing engagement, increasing confidence, stimulating local pride, and creating pathways for deeper participation and co-creation over time.

10

MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Financial Review

Marketplace Arts’s total income for 2025/26 was £315,293. This considerable increase on the previous year is due to the constituting of the Marketplace CPP programme as the charity Marketplace Arts in order to transfer management of the Creative People and Places programme from Babylon Arts. Income from fundraising totalled £19,715 exceeding our Arts Council England funding agreement stipulation of raising 15% in match funding (over a 3 year funding cycle). Modest earned income of £395 represented a pilot of charging for some activity before further development of this income generating work in the coming years.

We received the following grant income from Arts Council England and other public sector sources during the year:

Arts Council England £254,025 Creative Lives £11,715 Brandon Town Council £2,000 Newmarket Town Council £1,000 Clarion Futures £5,000

We received further funding from the following sources:

In this the first full year of operating as a charity, total expenditure was £298,493. Strong financial controls, effective project budgeting and 10+ years of delivering the Creative People and Places programme has enabled us to manage expenditure effectively throughout the year.

We were able to end the year with a total unrestricted fund of £13,569 which we aim to grow over time as the charity establishes and as outlined in the reserves policy.

Reserves Policy

Marketplace Arts’s total funds of £17,589 at 31 March 2026 are made up of the following elements:

Restricted Funds totalling £4,020 at 31 March 2026. These are funds held for specific purposes. £4,020 represents funds held for projects as stipulated by the donors or funders. Details of these are set out in note 11 to the Financial Statements.

Unrestricted Funds of £13,569 at 31 March 2026. These are made up of the following:

Trustees acknowledge that due to the transition away from Babylon Arts (the lead partner of the Creative People and Places programme consortium responsible for Marketplace) at the end of the 2024/25 financial year and the establishment of the charity Marketplace Arts on 1 April 2025, achieving the target level of free reserves equivalent to 3 months total expenditure will take some time. The trustees have therefore taken the decision to aim to maintain at least the equivalent of 3 months of expenditure on salaries, overheads and administration costs by the end of financial year 2028/29.

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Going Concern

Following the establishment of the charity in April 2025 and the successful application to Arts Council England for funding from 2026-2029, alongside a proven track record in raising additional funds the trustees are confident in asserting that the charity will not be subject to any material uncertainties over the next 12 months and that Marketplace Arts’s financial plans for 2026/27 are realistic and achievable.

Plans for Future Periods

2026 - 2027 Marketplace Arts Big Sky, Bigger Ideas

For eleven years, Marketplace Arts has co-created with the diverse communities of seven market towns in Fenland and West Suffolk. This work, funded by Arts Council England (ACE) through their Creative People and Places (CPP) programme has seen us produce a broad range of creative projects that have engaged tens of thousands of people, many of whom have very low levels of previous engagement with arts activity.

Now, as we look ahead to Phase 4 of our work and 3 more years of our CPP programme we are also embarking upon significant organisational development. For 10 of our eleven years, we were a project, led by a local arts organisation, supported by a consortium but as of April 2025, we constituted as a charity and have taken on lead responsibility of our CPP work. This vital step has opened up new opportunities, introduced a more direct relationship with our communities and has set us on a path that will see Marketplace Arts become a leader within the cultural ecosystem of this part of the East of England.

With this significant development comes a series of opportunities but also challenges, not least ensuring that we can resource and then sustain our ambitious plans. While not slowing down our CPP work, we must also diversify our offer, exploring new models for engaging audiences, and creative professionals to generate new income streams and greater local impact. We are at the beginning of that journey, which will take us the best part of the next decade. We will begin by working to develop free reserves, develop new operational models to sustain working across our expansive and rural geography and listen to the needs of our local communities.

Our expertise and trusted position within our communities puts us at a unique advantage. We are a connector and a collaborator with networks that stretch across the region and beyond. Our activities, outlined within this business plan, show a clear intent to offer unique, inclusive and joyful creative projects that bring people together. The focus of this plan is therefore necessarily our CPP funded work which represents the majority of our output in the next three years but we have included a routemap that extends beyond 2029 with outline strategic activity.

What is not changing is our belief in co-creation as the most vital practice in supporting communities to access cultural experience. Our aim is to be a vital co-creative connector between the communities we work in and countless artists and partners, promoting a vibrant and dynamic arts ecosystem. From festivals, to visual and performing arts, storytelling work and outdoor arts, heritage programmes and hands on creative activities, we will work alongside our communities to deliver high quality experiences that are unforgettable.

What’s coming next? Citizen’s Jury, Mildenhall 2026 Legends of Lime Avenue 2026 Light Up the Town 2027 Weekend of Making 2027 Made in Fenland Festival 2027

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Structure, Governance and Management

Marketplace Arts is a registered charity and the new name for Fenland & District Arts Association (registered on 8th March 1989).

The constitution as amended on 5th December 2024 form the governing documents of the charity.

Method of Appointment and Election of Trustees

The management of the charity is the responsibility of the Board of trustees, referred to as the “Board” in the Constitution. Trustees are selected with a view to ensuring an appropriate mix of backgrounds, skills and expertise. The selection and recruitment of new trustees is through various methods of recruitment including public advertisement. Trustees are elected by the Board for a period of 3 years and have the option of stepping down or putting their name forward for re-election for a further 3 year period in accordance with the Constitution And the procedures agreed by the Board.

The trustees who served during the year and up to the date of this report are shown on page 1.

Policies adopted for the Induction and Training of Trustees

All trustees are issued with the Charity Commission booklet setting out the duties and responsibilities of trustees. New trustees also receive an Induction Guide, which includes the Constitution, the latest Trustees’ Annual Report and Financial Statements, management accounts and other briefing documentation explaining Marketplace Arts’s organisational structure and practices.

Trustees are invited to make visits to Marketplace Arts projects, activities and events. Training is offered to trustees where appropriate, either individually or collectively. The induction and ongoing training of trustees is reviewed regularly with a view to enhancing their skills and knowledge relating to charity affairs.

Board and governance reviews are carried out from time to time.

Public Benefit

The trustees confirm that they have complied with the duty set out in section 17(5) of the Charities Act 2011 to have regard to the public benefit guidance issued by the Charity Commission when exercising any powers or duties to which the guidance is relevant. The review of objectives and activities set out below gives examples of how Marketplace Arts has furthered its charitable purposes for the public benefit.

Organisational Structure and Decision Making

The Board meets at least 4 times a year and receives reports from the CEO.

The charity’s staff team is led by the Chief Executive Officer & Creative Director.

The staff team is comprised of a Programme Manager, the Creative Producers and the Engagement Manager who are all responsible for delivery of the CPP programme. The CEO & Creative Director has joint responsibility for the leadership of the Charity and the CPP programme.

The staff team meet regularly throughout the year in a series of strategic and programme specific meetings.

The staff team work remotely from home and have an office base at March Town Hall.

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Remuneration Policy

The Board is responsible for overseeing the process of setting the remuneration of the Chief Executive Officer (‘CEO’). When the Chair of Trustees has completed the CEO’s annual appraisal, he or she puts forward a proposal for discussion to the trustees. The Board considers the proposal of the Chair, considering relevant factors including performance, any updates to the CEO’s job description and current market rates for CEOs in comparable arts sector organisations.

The CEO is responsible for overseeing the remuneration of all other employees, in particular for the annual salary review which is an important element of the annual budget setting process taking into consideration inflation and other cost of living increases, staff retention, opportunities for staff progression, recognition of changes in responsibility, staff overall remuneration and benefits, Marketplace Arts’s financial circumstances and the wider economic and political environment. The outcome of the salary review is incorporated into the proposed organisational budget, which is presented to the Board for its consideration normally at its January meeting ahead of the start of the financial year on 1 April.

Related Party Relationships

The charity has no current related party relationships except those with the trustees, other key management personnel and their close family members.

Risk Management

The Board has implemented a risk management policy which identifies all significant risks the charity faces and proposes measures to mitigate those risks and the potential harm arising from them.

The CEO produces a risk register for the organisation and reports to the Board quarterly on the major risks to the organisation that have been identified, and on measures in place or planned in order to manage and mitigate those risks. The Board of Trustees formally reviews the risks and mitigating measures at least annually. Risks assessed relate primarily to finance, operations and the reputation of the charity.

Key risks include: the potential failure to fundraise sufficient funds in order to achieve the charity’s objectives; an erosion in the quality of the programme provided, the potential loss or significant reduction of Arts Council England funding in the future; or other factors leading to a material erosion of the charity’s income and/or free reserves. Proposed mitigating actions include: building adequate reserves and a healthy cashflow; avoiding becoming over-reliant on single sources of fundraising; developing long-term strategic plans for the programme and implementation of strong safeguarding and community engagement strategies.

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MARKETPLACE ARTS Report of the Trustees (continued) For the Year Ended 31 March 2026

Statement of Trustees’ Responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law requires the Trustees to prepare financial statements for each financial year. Under charity law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Katherine Nightingale Chair

Date: 20[th] July 2026

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MARKETPLACE ARTS Independent Examiner’s report For the Year Ended 31 March 2026

Independent Examiner's Report to the Trustees of Marketplace Arts

Year Ended 31 March 2026

I report to the trustees on my examination of the accounts of Marketplace Arts ('the charity') for the year ended 31 March 2026.

Responsibilities and Basis of Report

As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

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

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

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.

Jane Ascroft FCA MA (Cantab) Independent Examiner

Date: 14th July 2026

Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XP

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MARKETPLACE ARTS Statement of Financial Activities (SOFA) For the Year Ended 31 March 2026

Notes Unrestricted Restricted 2026 Total 2025 Total
Funds Funds Funds Funds
Income from: 3 £ £ £ £
Donations and Legacies 301,444 - 301,444 -
Charitable Activities - 13,000 - -
Other Trading Activities - 640 640 415
Investments 5 94 115 209 18
Total income 301,538 13,755 315,293 433
Expenditure on:
Raising funds - - - -
Charitable Activities 4 252,640 45,013 297,653 535
Other 840 - 840 -
Total expenditure 253,480 45,013 298,493 535
Net gains / (losses) on - - - -
investments
Net Income / (expenditure) 48,058 (31,258) 16,800 (102)
Transfers between funds (34,489) 34,489 - -
Net movement in funds 7 13,569 3,231 16,800 (102)
Reconciliation of funds:
Total funds brought forward - 789 789 891
Total funds carried forward 13,569 4,020 17,589 789

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MARKETPLACE ARTS Charity Balance Sheet For the Year Ended 31 March 2026

Notes
Fixed assets
Buildings & Land
Fixtures and equipment
Investments
5
Total fixed assets
Current assets
Stocks
Debtors
6
Cash at bank and in hand
Total current assets
Creditors: amounts falling due
8
within one year
Net current assets
Total net assets
9
The funds of the charity
Unrestricted funds
10
General fund
Restricted funds
11
Restricted Funds
Total funds		 Charity
2026
£
-
-
-
-
-
14,500
8,711
23,211
5,623
17,588
17,588
13,569
4,020
17,589		 Charity
2025
£
-
-
-
-
-
-
789
789
-
-
789
-
789
789

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MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

1. Accounting policies

The principal accounting policies are set out below.

(a) Basis of preparation

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 Charities Act 2011.

The MARKETPLACE ARTS is registered with the Charity Commission Scheme dated 8[th] March 1989, domiciled and registered in England (charity number 800929, which constitutes a Public Benefit entity as defined by FRS102.

Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes.

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 £.

(b) Going concern

The trustees believe the going concern basis of preparing these financial statements is appropriate. The trustees feel that the charity has sufficient funds to meet its liabilities as they fall due for at least 12 months from the date of approving these accounts.

(c) Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the monetary value can be measured with sufficient reliability.

Donations are recognised when the charity has been notified of both the amount and settlement date, and it is probable that they will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it.

Dividends are recognised once the income has been declared and notification has been received of the dividend receivable from the investment provider.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably, this is normally upon notification of the interest payable or paid by the bank.

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MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

1. Accounting policies (continued)

(d) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this attribution refer to note (e) below.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

(e) Allocation of support and governance costs

Support costs include central functions and have been allocated to charitable activities and governance costs on a basis consistent with the use of the resources, staff costs by their time, and other costs by usage.

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit, and any legal or professional fees together with an apportionment of overhead and support costs.

Support costs including governance costs have been allocated to charitable activities as analysed in note 6.

(f) Taxation

The income and gains of the charity are exempt from corporation tax to the extent that they are applied to its charitable objectives. Recoverable income tax is accrued within the financial statements.

(g) Debtors

Trade and other debtors are recognised and the settlement due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

(h) Cash at bank

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(I) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value

20

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

  1. Accounting policies (continued)

(J) Funds accounting

Funds held by the charity are:

Unrestricted general funds – these are funds that can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds – these are funds subject to specific conditions imposed by donors as to how they may be used.

Further explanation of the nature and purposes of each fund is included in the notes to the accounts.

  1. Critical accounting estimates and areas of judgement

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Critical areas of judgement

The trustees do not consider there to be any critical areas of judgement that have a significant effect on the amounts recognised in the financial statements. Employment costs

During the year, the charity had 5 employees. (2025: 0).

The charity considers that its key management personnel comprises of the trustees who are not remunerated for their services.

No employee received remuneration and / or benefits totalling more than £60,000

Trustee remuneration and expenses

During the year no trustee received any reimbursement of expenses or remuneration or received payment for professional services supplied to the charity (2025: £Nil).

Related Party Transactions

During the year no related party transactions took place (2025: £Nil)

21

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

3. Analysis of income

Charity
2026
£
ACE – Creative People & Places
254,025
Box Office
245
Market Stall Fees
395
Grant Income
6,715
Interest Income
209
Local Authority
13,000
Trust & Foundations
40,703
315,293		 Charity
2025
£
-
415
-
-
18
-
-
433

4. Expenditure on charitable activities

Basis of
Allocation
Costs directly allocated to activities:
Direct Expenses
Direct
Payroll / Director
Direct
Travel
Direct
Audit & Accountancy Fees
Direct
Consulting
Direct
Insurance
Direct
IT Software and Consumables
Direct
Printing, Stationery & Postage
Direct
Website Costs
Direct
HR Support & Staff Welfare
Direct
Participant & Volunteer Expenses
Direct
Professional Memberships
Direct
Project / Events Staffing Costs
Direct
Bank Fees
Direct
Freelancers
Direct
General Marketing & Expenses
Direct		 Charitable
Activities
£
107,207
139,727
9,883
9,600
4,381
1,102
814
1,480
1,680
3,959
1,110
213
2,552
121
468
13,355
297,653		 Governance
£
-
-
-
840
-
-
-
-
-
-
-
-
-
-
-
-
840		 2026
Total
£
107,207
139,727
9,883
10,440
4,381
1,102
814
1,480
1,680
3,959
1,110
213
2,552
121
468
13,355
298,493		 2025
Total
£
185
-
-
-
-
350
-
-
-
-
-
-
-
-
-
535

22

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

5. Income from investments
Bank interest
6. Analysis of debtors
Trade debtors
Other debtors
7. Movements in total funds for the year
This is stated after charging:
Accountant’s remuneration for independent examination		 Charity
2026
Charity
2025
£
£
209
-
209
-
Charity
2026
Charity
2025
£
£
14,500
-
-
-
14,500
-
2026
£
2025
£
840
-

23

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

8. Creditors: amounts falling due within one year

Trade creditors
Other taxes and social security costs
Accruals and deferred income		 Charity
2026
£
832
3,951
840
5,623		 Charity
2025
£
-
-
-
-
  1. Analysis of net assets between funds
Current year
Unrestricted
Funds
Restricted
Funds
£
£
Tangible assets
-
-
Investments
-
-
Net current assets
13,569
4,020

13,569
4,020		 Total
Charity
Funds
2026
£
-
-
17,589
17,589

24

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

9. Analysis of net assets between funds (continued)

Prior year
Unrestricted
Funds
£
Tangible assets
-
Investments
-
Net current assets
-
-
10. Unrestricted funds
Current year
General
Fund
£
Balance at 1 Apr 2025
-
Net income/(expenditure)
48,058
Net investment gain
-
Transfers
(34,489)
Balance at 31 Mar 2026
13,569		 Restricted
Funds
£
-
-
789
789
Total
2026
£
-
48,058
-
(34,489)
13,569		 Total
Charity
Funds
2025
£
-
-
789
789

25

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

10. Unrestricted funds (continued)

Prior year


Balance at 1 Apr 2024
Net income/(expenditure)
Transfers
Balance at 31 Mar 2025		 General
Fund
£
-
-
-
-		 Total
2025
£
-
-
-
-

11. Restricted funds

Current year
Cinema Club
Light Up The Town
Lumini
WeekendOfMaking
Total restricted funds		 Balance
1 Apr
2025

£
789
-
-
-

789		 Income
Expenditure
Transfers
£
£
£
274
(213)
-
2,000
(15,322)
13,322
1,000
(22,167)
21,167
10,481
(7,311)
-
13,755
(45,013)
34,489		 Balance
31 Mar
2026
£
850
-
-
3,170
4,020

Restricted funds comprise income received for specific projects. Where project expenditure exceeded restricted income (Light Up The Town £13,322; Lumini £21,167), the trustees authorised transfers from unrestricted general funds to meet the shortfall. The balances carried forward on the Cinema Club and WeekendOfMaking funds will be applied to those purposes in future periods.

26

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

11. Restricted funds (continued)

Prior year
Cinema Club
Total restricted funds		 Balance
1 Apr
2024
£
891
891		 Income
Expenditure
Transfers
£
£
£
433
(535)
(102)
433
(535)
(102)		 Balance
31 Mar
2025
£
789
789

Cinema Club – Delivering a local Cinema Club with a focus on classic films.

Light Up The Town - Brought communities together transforming local towns with stunning light projection art during early 2025.

Lumini - Inflatable sculpture, created by internationally renowned Architects intricate egg shaped domes which created an inspiring space of light and colour.

WeekendOfMaking – A major weekend celebration that features artist-curated Makers’ Markets, creative workshops, live music, and street food.

27

MARKETPLACE ARTS Notes to the Financial Statements For the Year Ended 31 March 2026

Comparative statement of financial activities by fund for the year ended 31 December 2025

Notes Unrestricted Restricted 2025 Total 2024 Total
Funds Funds Funds Funds
Income from: 3 £ £ £ £
Donations and Legacies - - - 5,500
Charitable Activities - - - -
Other Trading Activities - 415 415 250
Investments 5 - 18 18 34
Total income - 433 433 5,784
Expenditure on:
Raising funds - - - -
Charitable Activities 4 - 535 535 5,719
Other - - - -
Total expenditure - 535 535 5,719
Net gains / (losses) on - - - -
investments
Net Income / (expenditure) - (102) (102) 65
Transfers between funds - - - -
Net movement in funds 8 - (102) (102) 65
Reconciliation of funds:
Total funds brought forward - 891 891 826
Total funds carried forward - 789 789 891

28