The Trustees present their annual report and financial statements for the year ended 31 March 2026.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
The Southern Maltings is an artistic space dedicated to creating creative experiences that will enhance the health and well-being of the local and wider community. Through the provision of opportunities to learn, practice and experience creativity, we enable people of all ages and abilities to explore, experience and enjoy their own and other’s artistic achievements.
The charitable company is established to promote, maintain, improve and advance public education particularly by the production of educational plays and the encouragement of the arts and crafts; including drama, mime, dance, singing, music, drawing, painting, graphics, printmaking, photography, ceramics, sculpture, carving and craft handiwork and to formulate, prepare and establish schemes therefore provided that all objects of the company shall be of a charitable nature.
The Southern Maltings provide a vibrant, contemporary, inclusive, accessible and creative environment, offering studio, exhibition, performance, and social spaces for people of all ages and abilities in which to experiment and discover, to produce and display, to collaborate and celebrate, giving a heart and home for the wider creative community. We aim to be diverse in our activities and proactively inclusive.
By giving the Southern Maltings a new purpose as an 'arts for all centre' we bring cultural, social, and economic benefits to the whole area by creating new employment possibilities and providing opportunities for people and organisations to contribute time, skills, and enthusiasm to the wellbeing of the community through volunteering.
The objectives for the year under review were:
To undertake necessary repairs and improvements to our Grade II Listed Building ensuring our staff, volunteers and users are safe and feel welcome. Improvements and projects this year have included: New flooring and openable windows in our upper function room; new Fire doors fitted for both security and Fire Safety; created a new doorway to allow extension of our café; redesign of our café to be able to support our hirers and events.
To continue diverse programme of events, workshops for all ages and abilities widening the offer to new activities. To expand our activities to include local theatre, host a few young people theatre groups and increase opportunities for young people to use our centre or make new experiences through volunteering.
To create a hub of skilled craft people and artists to deliver workshops and provide space for their work to be celebrated and displayed. During the year of report, we have initiated children and adult craft workshops and hosted Herts Visual Arts for the 4th time during the Autumn over 3 weeks.
The main activities undertaken in relation to those objectives were:
Room hires formed approximately 46% of income generation in 2025/26 with diverse groups from Poets, dance schools, singing, yoga and Pilates, alongside social gatherings though our Local Social Café attracting over 35 people weekly.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake. The Board is currently working to widen the skills of the Board, and creating a Strategy for recruitment, engagement and training our volunteers, now numbering approx. 50+. We are now into our 10th year of operating the new building we are working on succession planning and recruiting additional skills for the board.
The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the Trustees to present a strategic report.
Our investment in our building and creating events to support wellbeing and health, working with community groups supporting dementia sufferers and young people with learning difficulties and disabilities have increased and this year we have been pleased to work with an Inclusive Theatre Group.
Our programme has reflected the need for an emphasis on wellbeing, including delivery of a Wellbeing Festival, where attendees could try tasters of different treatments and exercise classes as well as a pub choir in the evening. The event was incredibly popular and is now an annual event. During this period have partnered with other local groups to support our community, holding community events.
Our activities are only possible through the generosity of our volunteers who give their time to support all our many events. We now have over 50 regular volunteers who regularly help us and we have appointed one of our trustees to oversee our Volunteer Strategy.
Our partnership with Ware town council to introduce events in the town centre involving local producers and crafts as part of the town centre strategy to regenerate the High Street and encourage people to come out and enjoy something local continues to develop. We are pleased that our local businesses support this venture by taking stalls alongside our local councillors and neighbourhood police.
Our fundraising is generated via our events and volunteering plus we are members of the Local Authority “lottery” which raises 50% from each ticket formed. All our fundraising is reinvested in our building maintenance and development of activities for the Community. We also have a talented group who assist us in keeping our building attractive and welcoming through work sessions. We also host “Volunteer days” when local companies spend a day with us undertaking a variety of tasks.
We were also fortunate that one of our Trustees, John Wing, has published a History of the Southern Maltings. The book was launched at a Maltmaker Supper and raised over £500 for the charity.
There were three principal sources of income in the year:
Room hire for local community groups.
Events run by volunteers as paid performances.
Grants to assist with projects to trial community activities or for expanding the offer of creative workshops and cultural activities.
Our cash reserves are the only form of investment we have. We currently earn low rates of interest on this. We have reviewed our banking arrangements and deposited an amount to spread risk.
The Trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The organisation is currently implementing our 3-year business plan focusing on our Cultural Strategy feeding our Cultural Programme and aligning our Resource Plan, Building development and Communication plans for the Charity. The organisation has embarked on the first phase of our building development alongside undertaking significant repairs and renewals to certain areas.
We obtained necessary Planning consents and Listed Building consents for all adaptations of the building needed to support our Cultural Programme
We have scoped the requirements for a major repair of our Cowl rooms where we have some ingress of water
We have an outline plan for creating a gantry from our East End part of the building into the upper floor of the Central function space. We have created a team of experts to oversee the project which will enable improved access for those with mobility issue, allowing equality of access.
We are currently working on a pipeline of grant applications to support both our development plans for the building but also core funds to enable us to deliver our cultural programme
We have taken our staff payroll in house for cost reasons and some flexibility in hiring part time staff.
We continue to look for more environmental improvements for our activities and our building. Two of our Trustees are now Carbon Literacy certified and will look to embed good policy in our organisation.
We are now able to offer a wide range of activities for adults and children in a variety of workshops, more theatre and have developed links to local writers.
Continue to develop our café and bar to support the events and bring the community in.
The Charitable Company was incorporated as a Company Limited by Guarantee on 10 October 1978 and as such has no share capital.
The Company was registered as a Charity on 21 March 1979 by the Charity Commission for England and Wales.
None of the Trustees has any beneficial interest in the company. The Trustees who are also the Members of the charitable company have undertaken to contribute a sum not exceeding £1 in the event of winding up.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
We advertise for Trustees and look for skills to support our Charity. Prospective Trustees are interviewed and attend a board meeting prior to joining. We are an equal opportunity organisation. We have currently 1 new Trustees/Directors and 1 co-opted member from Ware Town Council, who will join the board at our annual meeting. We aim to recruit up to 3 additional trustees in 2026/27.
The organisational structure is a Board of eight Trustees who meet quarterly and operate through sub-committees to oversee procedures and planning.
The Board of Trustees is currently undertaking training through our Hertfordshire Community Foundation series of workshops including Carbon Awareness training in October 2025. During the period of report, trustees attended Fire Safety and Safeguarding courses. The induction training will be refreshed for new Trustees joining the Board.
Induction is through a short meeting with senior Trustees at present, but this is now planned to be using a skills analysis and to ensure we have the right skills needed for the organisation. We propose to advertise to widen our reach. We have also some special advisors on matters of property and HR issues.
We are actively involved with local groups in the town and work closely with many local groups who have adopted our building as their home. We also partner with Ware Museum and Ware Town Council.
East Herts Council is currently our landlord and Ware Town Council is currently negotiating a 99 year lease to transfer the building and protect its use as a Community Arts Centre. we have regular review meetings with both East Herts and Ware Town Council on our progress and have received local grants from Ware Town Council and East Herts Community Grants Scheme.
The Trustees, who are also the directors of Ware Arts Centre Limited for the purpose of company law, 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).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees report was approved by the Board of Trustees.
I report to the Trustees on my examination of the financial statements of Ware Arts Centre Limited (the charitable company) for the year ended 31 March 2026.
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charitable company as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Ware Arts Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Southern Maltings, Kibes Lane, Ware, Hertfordshire, SG12 7BS.
The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Resources expended are included in the Statement of Financial Activities on an accruals basis.
Support costs are allocated on the basis of time spent on each activity.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charitable company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Arts Centre Operation
Arts Centre Operation
Events income
Hire income
Raising funds
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
During the year expenses were reimbursed to 5 (2025: 3) Trustees for event, premises, office and fixed asset costs totalling £2,156 (2025: £1,725).
The average monthly number of employees during the year (including Directors/Trustees) was:
The charity's staff are employed by Community Alliance Broxbourne and East Herts on its behalf and are reimbursed by Ware Arts Centre.
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Deferred income is included in the financial statements as follows:
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Culture Recovery Fund for Heritage was a grant to enable us to recover after the extended period of closure, protect our heritage and employ staff. From the remaining balance have transferred an amount of £18,500 to our building development fund to match expenditure on development of the Maltings building. We have also transferred £14,092 to our Kitchen Start Up Fund to cover expenditure on development of the Maltings café.
Early Years Grants was funding towards the Mini Maltings masterclasses programme and Stay and Play/Craft Cafés.
East Herts Community was funding from East Herts Council to fund room hire, refreshments at events and staffing within the charity.
Ware In Bloom Garden Projects is funding for planting in Ware.
Ware Town Council Resources is a grant to cover personnel costs.
Covid Recovery is a grant for volunteer training and delivery of volunteer strategy.
SMYLE (Southern Maltings Youth Led Events) is funding for accessible, local, and safe social spaces for teens in Ware. Our youth-led initiative is designed to offer exciting activities and events that cater to the interests of young people, giving them a place to connect, learn, and have fun without needing to leave town.
Learning and Skills is funding from Sovereign Network Group towards skills and activities based around Café and Children's crafts, Malt Garden sessions and volunteer and staff training.
Winter Wishes was funding from Sovereign Network Group for the Children's Winter Wishes Afternoon Tea.
Workshops includes funding from Ware Town Council to subsidise trial workshops to keep them affordable.
Warm Space Grant was funding from Hertfordshire Community Foundation to provide a warm and welcoming space during the winter months.
Sound and Light Fund is funding from Hertfordshire County Council and Maverick Advertising to maintain sound and lighting equipment.
Tudor Square Markets is funding from Ware Town Council to put on markets.
Green Grants funded environmentally friendly lighting in the Café.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Essential Building Works Fund is to urgently address issues that are waiting planning consents.
Building Development Fund is to carry out a major plan of redesign and modifications to the building.
Café Operation Start Up is funds to support the establishment of the café operation at Southern Maltings.
There were no disclosable related party transactions during the year (2025 - none).