Olympian Arts Trust Charity Accounts

COMPANY REGISTRATION NUMBER: 02773919

CHARITY REGISTRATION NUMBER: 1034760

Olympian Arts Trust

Unaudited Financial Statements

For the Year Ending

31 December 2025

Olympian Arts Trust

Financial Statements

Year Ended 31 December 2025

	Page

Trustees' Annual Report (Incorporating the Director's Report)	1

Independent Examiner's Report to the Trustees	4

Statement of Financial Activities (Including Income and Expenditure Account)	5

Statement of Financial Position	6

Notes to the Financial Statements	7

Olympian Arts Trust

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

Year Ended 31 December 2025

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 31 December 2025 .

Objects of the Charity

The principal object of the charity is to advance education in the visual arts for the benefit of the public by arranging, developing, operating, providing and promoting exhibitions.

Review of the Developments, Activities and Achievements of 2025

The operation of Tudor Grove Studios by Olympian Arts as non-profit artists' studios and exhibition space for the public benefit continued.

An exhibition of artists' work and open studios day with artists' talks was held on 12 May 2025.

The trustees have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant.

Financial Review

Financial position at the end of the period

The Charity has had a satisfactory year, receiving contributions totalling £300 (2024: £3,600). Expenditure totalled £2,376 (2024: £4,232). A deficit of £2,076 applied to the brought forward reserves gave rise to a total fund value of £9,381 (2024: £11,457) at the end of the period. The fund of the Charity is unrestricted and will be applied in accordance with the principal objects.

Reserves policy

The unrestricted funds held in reserve by the charity should be 3-6 months expenditure; the minimum required period to continue the current activities of the charity in the event of a significant drop in funding. Average annual expenditure is currently £3,000 - £4,000. Current reserves are £9,381 and so our reserve policy has been met.

Future

The key assumptions for the future are that there are no significant areas of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

The Charity plans to continue the operation of Tudor Grove studios as not-for-profit studio and exhibition space at the charity's registered address.

Risk Management Strategy

The trustees have a risk management strategy which comprises: an annual review of the risks the charity may face; the establishment of systems and procedures to mitigate those risks identified in the plan; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

This work has identified that financial sustainability is the major financial risk for the charity. Attention has also been focussed on non-financial risks arising from fire and health and safety of artists and studio and exhibition space.

Structure, Governance and Management

The full name of the charity is the Olympian Arts Trust . It is incorporated as a non-profit company limited by guarantee. The charity is a public benefit entity.

The charity's bankers are National Westminster Bank Plc.

The Directors are subscribers to the Memorandum and Articles of Association, and as such are limited to a guarantee of a nominal one pound sterling which they have subscribed to the company. They are responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors are all trustees of the Charity. None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity in the reporting period (Charities SORP 2005, SORP (FRS 102).

New charity trustees are recruited and appointed by personal recommendation of the existing company officers. Election to post is by vote at General Meeting of the trustees. The induction and training of trustees is that their duties and responsibilities are explained as set out in the Memorandum and Articles of Association, and the trustees are referred to relevant Charity Commission publications.

The Charity's organisational structure is that policy is decided at General Meetings and the the charity trustees delegate day-to-day management of the charity to the Company Secretary, Alice Walters .

Reference and Administrative Details

Registered charity name	Olympian Arts Trust

Charity registration number	1034760

Company registration number	02773919

Principal office and registered	21 Tudor Grove
office	London
	E9 7QL

The Trustees

	Caroline Jones
	Marta Nowicka

Company Secretary	Alice Walters

Independent Examiner	Jane Ascroft FCA MA (Cantab)
	Enterprise House
	Harmire Enterprise Park
	Barnard Castle
	County Durham
	DL12 8XP

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 22 September 2026 and signed on behalf of the board of trustees by:

Caroline Jones

Trustee

Olympian Arts Trust

Independent Examiner's Report to the Trustees of Olympian Arts Trust

Year Ended 31 December 2025

I report to the trustees on my examination of the financial statements of Olympian Arts Trust ('the charity') for the year ended 31 December 2025.

Responsibilities and Basis of Report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent Examiner's Statement

I have completed my examination. I 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.

Jane Ascroft FCA MA (Cantab) Independent Examiner

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

22 September 2026

Olympian Arts Trust

Statement of Financial Activities

(including income and expenditure account)

Year Ended 31 December 2025

	2025		2024
	Unrestricted funds	Total funds	Total funds
Note	£	£	£

Income and endowments

Donations and legacies	5	300	300	3,600
		----	----	-------
Total income		300	300	3,600
		----	----	-------

Expenditure

Expenditure on charitable activities	6,7	2,376	2,376	4,232
		-------	-------	-------
Total expenditure		2,376	2,376	4,232
		-------	-------	-------

	-------	-------	-------
Net expenditure and net movement in funds	( 2,076)	( 2,076)	( 632)
	-------	-------	-------

Reconciliation of funds

Total funds brought forward	11,457	11,457	12,089
	--------	--------	--------
Total funds carried forward	9,381	9,381	11,457
	--------	--------	--------

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Olympian Arts Trust

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Current Assets

Cash at bank and in hand	11,241	13,329

Creditors: amounts falling due within one year	11	1,860	1,872
		--------	--------
Net Current Assets		9,381	11,457
		-------	--------
Total Assets Less Current Liabilities		9,381	11,457
		-------	--------
Net Assets		9,381	11,457
		-------	--------

Funds of the Charity

Unrestricted funds		9,381	11,457
		-------	--------
Total charity funds	12	9,381	11,457
		-------	--------

For the year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

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 22 September 2026 , and are signed on behalf of the board by:

Caroline Jones	Marta Nowicka
Trustee	Trustee

Olympian Arts Trust

Notes to the Financial Statements

Year Ended 31 December 2025

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 21 Tudor Grove, London, E9 7QL.

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

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.

Going Concern

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

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. The trustees consider that there are no significant estimates or judgements affecting these financial statements.

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.

Income

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: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Expenditure

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: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

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.

Financial Instruments

The charity only has financial assets and 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.

Debtors

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

Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

Cash at Bank and in Hand

Cash at bank and cash in hand 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.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

4. Limited by Guarantee

The Directors are subscribers to the Memorandum and Articles of Association, and as such are limited to a guarantee of a nominal one pound sterling which they have subscribed to the company.

5. Donations and Legacies

Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
£	£	£	£

Donations

Donations from Tudor Grove Studios	300	300	3,600	3,600
	----	----	-------	-------

6. Expenditure on Charitable Activities by Fund Type

	Unrestricted Funds	Total Funds 2025	Unrestricted Funds	Total Funds 2024
	£	£	£	£
Costs of charitable activities	500	500	728	728
Support costs	1,876	1,876	3,504	3,504
	-------	-------	-------	-------
	2,376	2,376	4,232	4,232
	-------	-------	-------	-------

7. Expenditure on Charitable Activities by Activity Type

	Activities undertaken directly	Support costs	Total funds 2025	Total fund 2024
	£	£	£	£
Costs of charitable activities	500	1,876	2,376	4,232
	----	-------	-------	-------

8. Independent Examination Fees

	2025	2024
	£	£

Fees payable to the independent examiner for:

Independent examination of the financial statements	360	660
	----	----

9. Staff Costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

10. Trustee Remuneration and Expenses

None of the trustees have been paid any remuneration or received any other benefits from an employment with the charity or a related entity in the reporting period.

11. Creditors: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	1,860	1,872
	-------	-------

12. Analysis of Charitable Funds

Unrestricted funds

	At 1 January 2025	Income	Expenditure	At 31 December 2025
	£	£	£	£
General funds	11,455	300	(2,376)	9,379
Directors' Subscription	2	–	–	2
	--------	----	-------	-------
	11,457	300	(2,376)	9,381
	--------	----	-------	-------

	At 1 January 2024	Income	Expenditure	At 31 December 2024
	£	£	£	£
General funds	12,087	3,600	(4,232)	11,455
Directors' Subscription	2	–	–	2
	--------	-------	-------	--------
	12,089	3,600	(4,232)	11,457
	--------	-------	-------	--------

13. Analysis of Net Assets Between Funds

	Unrestricted Funds	Total Funds 2025
	£	£
Current assets	11,241	11,241
Creditors less than 1 year	(1,860)	(1,860)
	--------	--------
Net assets	9,381	9,381
	--------	--------

	Unrestricted Funds	Total Funds 2024
	£	£
Current assets	13,329	13,329
Creditors less than 1 year	(1,872)	(1,872)
	--------	--------
Net assets	11,457	11,457
	--------	--------