Luton Community Arts Trust Limited - Charities report

REGISTERED COMPANY NUMBER: 01915997 (England and Wales)

REGISTERED CHARITY NUMBER: 298437

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

LUTON COMMUNITY ARTS TRUST LIMITED

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

13

TRUSTEES

Mr G K Collin Trustee

Mr R Batson Trustee

Mr O Cligan Trustee

Ms R Davis Trustee

Mr M S Wooldridge Trustee

Mr P J Henry (appointed 19.6.25)

Mrs L J Brown (appointed 19.6.25)

COMPANY SECRETARY

Mr P Jolly

REGISTERED OFFICE

260 - 270

Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

REGISTERED COMPANY NUMBER

01915997 (England and Wales)

REGISTERED CHARITY NUMBER

298437

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Information required under company law to be disclosed in the report of the Directors is contained within the below report of the Trustees.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The continued objectives of the Trust are to foster and promote, and improve the appreciation of the Arts amongst the people of Luton. We continue our community based work supporting artists in developing opportunities for studio spaces and resources within the Borough of Luton working with the local authority, Arts Forums and other agencies.

Significant activities

Activities

The Trust's legacy project - the Accidental Archivist, funded by an NLHF grant, was maintained at no cost via updates to the dedicated website (www.33accidentalarchivist.com). The updates included new interviews with artists with links to "33". The main activities within the year were focused on discussions regarding the maintenance of the Trust and the separation of the Trust from the attached trading company 33 RPM Ltd. This work involved various meetings with individuals interested in taking the work of the Trust forward to develop new and potential opportunities within the local arts communities. To this end two new Trustees were appointed, Patrick Henry and Louise Brown. Discussions were held with the Trust's accountants to develop a plan to separate the companies.

33 RPM

33 RPM's output of contemporary music focused on the continued use of streaming and downloading music on behalf of contemporary artists. There was a gradual decrease in physical stock being held by "33' with negotiations with artists to store their own work. This enabled '33' to remove stock from the Hat Factory and use sole storage facilities at Shurgard.

ACHIEVEMENTS AND PERFORMANCE

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general on guidance public benefit when setting their policies for the year in line with the charity's aims and objectives.

The Trustees are satisfied that the supported projects provide clear public benefit, and that activities are available to all young people within the local community.

FINANCIAL REVIEW

Reserves policy

Historically, it has been the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between nine and twelves month's expenditure, in order to enable the activities to continue between funding gaps.

The results for the year set out on page 4, shows net expenditure of £562 on unrestricted funds and expenditure of £nil on restricted funds leaving funds of £1,763 and £nil respectively.

Going concern

The Charity Trustees have embarked, with interested members of the local community, on researching the worth of maintaining the Trust to act as an independent voice within Luton. To this end there has been support and the Trustees have made sufficient progress to see a possible, albeit different, future for LCAT that would support the work of local creatives. This research concluded with the view that by attracting and appointing new Trustees there was a definite need to maintain the Trusts work to support the current local creative community.

To ensure that the Charity will be operating in 12 months time sufficient funds have been set aside to pay for any future operating costs. Additional funds have been set aside to enable the Trust to engage in research with other local arts organisation to further the aims of the Charity and to explore potential opportunities with regard to providing support to the visual arts sector.

FUTURE PLANS

The Trustees will embark on planned policies to attract new funding with the aim of supporting the work of locally based artists and musicians - working within the current framework as related to the Trusts existing Articles & Memorandum.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporation on 22 May 1985 and registered as a charity on 1 February 1978. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and is governed under its Memorandum and Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

Trustees are appointed by the Council of Management (COM) by vote at a yearly AGM of the Trust, as laid out within the Trust's Memorandum and Articles. If new Trustees are required during the year they are co-opted onto the COM and their appointment ratified by an AGM.

Organisational structure

The Trust is a company limited by guarantee and is governed by its Memorandum and Articles of Association.

The Trust is controlled by a Council of Management meeting 4 to 6 times yearly. The COM has a responsibility to govern the activities of the Trust. None of the Trustees have any beneficial interest in the Company.

Induction and training of new trustees

All new appointments to the COM are required to have a full understanding of the work of the Charity and have knowledge of the day to day project activity. All Trustees are kept up to date with all training initiatives, both locally and nationally, that relate to their responsibilities as Trustees of a charitable organisation.

Related parties

The charity considers its related parties to be the trustees and its subsidiary company, 33 RPM Limited.

Approved by order of the board of trustees on 25 September 2026 and signed on its behalf by:

Mr P Jolly - Secretary

2026

2025

Unrestricted

Restricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3,635

-

3,635

-

Investment income

2

-

155

Total

3,635

-

3,635

155

EXPENDITURE ON

Charitable activities

4,197

-

4,197

32,356

NET INCOME/(EXPENDITURE)

(562

)

-

(562

)

(32,201

)

RECONCILIATION OF FUNDS

Total funds brought forward

2,325

-

2,325

34,526

TOTAL FUNDS CARRIED FORWARD

1,763

-

1,763

2,325

2026

2025

Unrestricted

Restricted

Total

funds

Notes

£

FIXED ASSETS

Tangible assets

7

409

-

409

715

Investments

8

100

-

100

509

-

509

815

CURRENT ASSETS

Debtors

9

756

-

756

4,345

Cash at bank and in hand

2,563

-

2,563

1,166

3,319

-

3,319

5,511

CREDITORS

Amounts falling due within one year

10

(2,065

)

-

(2,065

)

(4,001

)

NET CURRENT ASSETS

1,254

-

1,254

1,510

TOTAL ASSETS LESS CURRENT LIABILITIES

1,763

-

1,763

2,325

NET ASSETS

1,763

-

1,763

2,325

FUNDS

11

Unrestricted funds

1,763

2,325

TOTAL FUNDS

1,763

2,325

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 9 October 2026 and were signed on its behalf by:

Mr G K Collin - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The presentation currency of the financial statements is the Pound Sterling (£).

Luton Community Arts Trust Limited meets the definition of a public benefit entity under FRS 102.

Going concern

The Charity Trustees have embarked, with interested members of the local community, on researching the worth of maintaining the Trust to act as an independent voice within Luton. To this end there has been support and the Trustees have made sufficient progress to see a possible, albeit different, future for LCAT that would support the work of local creatives. This research concluded with the view that by attracting and appointing new Trustees there was a definite need to maintain the Trusts work to support the current local creative community.

To ensure that the Charity will be operating in 12 months time, sufficient funds have been set aside to pay for any future operating costs. Additional funds have been set aside to enable the Trust to engage in research with other local arts organisation to further the aims of the Charity and to explore potential opportunities with regard to providing support to the visual arts sector.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Charitable expenditure comprises of those costs incurred by the charity in the delivery of its activities and services for the beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature to support them.

Governance costs

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

Allocation of overhead and support costs

Costs are allocated where possible directly to the activity to which they relate, or on a basis consistent with the use of resources.

Tangible fixed assets

All assets costing more than £100 are capitalised and all assets are valued at historic cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment 10% to 33.3% reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Investment in the subsidiary is included in the balance sheet at cost. The company and its subsidiary comprise a small group. The company has taken advantage of the exemption provided in section 399 2(A) of the Companies Act 2006 not to prepare group financial statements and accordingly these financial statements present information about the company as a single undertaking.

2.	INVESTMENT INCOME

2026

2025

£

Deposit account interest

-

155

3.	SUPPORT COSTS

Governance

Management

costs

Totals

£

Charitable activities

1,000

1,200

2,200

Support costs, included in the above, are as follows:

2026

2025

Charitable

Total

activities

£

Wages

-

6,468

Honorarium payment

1,000

-

Accountancy

1,200

1,887

2,200

8,355

4.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2026

2025

£

Accountancy

1,200

1,887

Depreciation

201

353

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2026 nor for the year ended 31 March 2025.

6.	STAFF COSTS

2026

2025

£

Salaries and wages

-

12,936

-

12,936

The average number of employees during the year was Nil (2025: 2).

No employees have emoluments in excess of £60,000.

During the year, the trustees awarded honorarium payments totalling £2,000 to two former employees for their continued support of the Trust.

7.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2025

22,867

Disposals

(19,651

)

At 31 March 2026

3,216

DEPRECIATION

At 1 April 2025

22,152

Charge for year

202

Eliminated on disposal

(19,547

)

At 31 March 2026

2,807

NET BOOK VALUE

At 31 March 2026

409

At 31 March 2025

715

8.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 April 2025 and 31 March 2026

100

NET BOOK VALUE

At 31 March 2026

100

At 31 March 2025

100

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

33 RPM Limited

Registered office: 260 - 270 Butterfield, Great Marlings, Luton, LU2 8DL

Nature of business: Trading subsidiary of the Charity

%

Class of share:

holding

Ordinary

100

31.3.26

31.3.25

£

Aggregate capital and reserves

5,200

13,084

Loss for the year

(7,884

)

(1,293

)

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed by group undertakings

-

3,114

VAT

756

1,231

756

4,345

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed to group undertakings

2,065

-

Other creditors

-

4,001

2,065

4,001

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.25

in funds

31.3.26

£

Unrestricted funds

General fund

2,325

(562

)

1,763

TOTAL FUNDS

2,325

(562

)

1,763

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

3,635

(4,197

)

(562

)

TOTAL FUNDS

3,635

(4,197

)

(562

)

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.25

£

Unrestricted funds

756

101

1,468

2,325

Restricted funds

The Accidental Archivist - the legacy of
Luton’s 33 Arts Centre

33,770

(32,302

)

(1,468

)

-

TOTAL FUNDS

34,526

(32,201

)

-

2,325

Comparative net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

155

(54

)

101

Restricted funds

The Accidental Archivist - the legacy of
Luton’s 33 Arts Centre

-

(32,302

)

(32,302

)

TOTAL FUNDS

155

(32,356

)

(32,201

)

A current year 12 months and prior year 12 months combined position is as follows:

Net

Transfers

movement

between

At

At 1.4.24

in funds

funds

31.3.26

£

Unrestricted funds

756

(461

)

1,468

1,763

Restricted funds

The Accidental Archivist - the legacy of
Luton’s 33 Arts Centre

33,770

(32,302

)

(1,468

)

-

TOTAL FUNDS

34,526

(32,763

)

-

1,763

Net movement in funds included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

3,790

(4,251

)

(461

)

Restricted funds

The Accidental Archivist - the legacy of
Luton’s 33 Arts Centre

-

(32,302

)

(32,302

)

TOTAL FUNDS

3,790

(36,553

)

(32,763

)

Accidental Archivist - the legacy of Luton's 33 Arts Centre

Provide funding for the continuation of Luton's 33 Arts Centre to aid the charity in completing and achieving its aim and objectives as detailed in the report of trustees.

12.	RELATED PARTY DISCLOSURES

Amounts owed to/by group undertakings are interest free and repayable on demand.