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 charity's governing document, 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).
Overview
36 Lime Street is a charitable organisation that runs the oldest and one of the largest artist studio groups in the North East. 36 Lime Street is situated in the heart of Newcastle’s Ouseburn Valley to the east of the city centre. The former Grade II listed flax mill is now home to 50 artists, makers and designers across five floors. The variety of artist’s practices we support includes visual artists; design makers; jewellers; ceramicists; architects and musicians among others. 36 Lime Street was established in 1983 with the guiding principle of providing secure, affordable studio spaces for rent for artists and other creative businesses, and in doing so to contribute towards the regeneration of the building and the area.
The gallery is host to an ambitious artist-led programme of exhibitions, events and workshops that reflects the diversity of contemporary art practice and responds to the needs of the local context within which it exists. We continue to foster meaningful relationships with the community that we are part of through public engagement with art events, activities and with the building.
The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which state that all charities must demonstrate that they are established for public benefit and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both key principles, and the following strategic objectives underpin everything we do, demonstrating clear, tangible benefits.
Benefit must be to the public, or a section of the public. 36 Lime Street’s work and activities seek to benefit one or more clearly identified sections of the public, whether the artistic community or the general public, and directly seek to meet the aims of 36 Lime Street. The Trustees do not consider that any significant detriment or harm arises from the work of 36 Lime Street.
Activities delivered in the period April 2025– March 2026
Studios 36 Lime Street provides affordable studio spaces for 50 artists, makers and designers in the North East. We are based in the vibrant cultural area of Ouseburn, in a Grade 2 listed building, that contains 35 studios over 5 floors. The studios house a range of creative practices including sculptors, painters, glass artists, jewellers, ceramicists, textile artists, furniture makers, visual artists, musicians, puppeteers, designers, photographers and more.
OPEN Exhibitions
Throughout the year 2025-26 there were 9 exhibitions as part of the OPEN programme that showcased the work of 15 artists working in various media and a range of career stages. Exhibitions are selected from Open Call submissions, and the programme aims to offer artists a testing ground for presenting new work. It has been instrumental in supporting the development of many early career artists both from within and outside of the city.
These exhibitions attracted over 2600 visitors to gallery
MEMBERS Exhibitions
During the year we held 3 exhibitions showing the work of 5 studio members or collaborations with studio members that provided an opportunity for 36 Lime Street artists to present their work outside of their studios and in response to other artists’ work.
These exhibitions attracted over 1400 visitors to the gallery
Events Exhibitions Talks
There was a diverse mix of both building-wide, gallery and studio-based events held in 2025-26 inviting the public into the building to experience and celebrate the artforms and artistic practices based here. These included visits from local schools to look inside artists’ studios and ask questions about what it’s like to be an artist. Students from Newcastle university were also able to visit to experience studio life and Lime Street hosts Heritage open days each year attracting those interested in the history of the building.
Open studios and late shows attracted over 6000 visitors
More than 170 children, young people and adults were able to explore the studios to find out more
Community Engagement
During 2025-26 there was a wide range of workshops and teaching delivered at 36 Lime Street by our studio artists, providing opportunities for the local community to participate in the arts. These sessions allowed participants to acquire new skills, and to learn and explore different art forms, with members offering opportunities for new learners as well as people wanting to further develop their skills and experience. They were targeted at a wide range of participants including carers, young people, and people with learning disabilities.
Workshops attracted over 380 participants over the year
Outreach
Many of our members worked in collaboration with regional organisations to facilitate creative workshops and engagement projects in the wider community including; A project working with community groups working with people with early onset dementia and their partners at Washington Arts Centre as well as projects working with young people, asylum seekers and students. Partner organisations included; Baltic, The Ouseburn Trust, Chilli Studios, Skills for People, Ouseburn Farm as well as many local schools.
At least 580 participants benefitted from these workshops
Individual Artist’s Activities and Achievements
The impact of the support that 36 Lime Street provides reaches far beyond the realms of the studio walls, with the creativity of the 36 Lime Street artists being felt across the UK and beyond. Steve Luck started a newsletter in 2026 which includes updates on events and a celebration of individual artists activities and achievements. The studios offer an affordable base from which our members develop their own work in 2025-26.
Paul Merrick had his painting CHAMBRE exhibited in the John Moores painting prize 2025 exhibition at the Walker Art Gallery Liverpool
Events
During this period, we successfully delivered building wide events enabling the public to access the entire building. Particularly during Spring and Winter open studios and late show events. 36 Lime Street also opened it’s gallery to the public during Ouseburn festival weekend.
Visitors were able to explore the studios, meet artists, take part in a variety of workshops and experience live performances.
Communication
This year we have continued to build on the internal structures developed last year including the WhatsApp Community. This vastly improved the speed and efficiency of communication between members and in the overall running of the building. It now includes WhatsApp groups for each of the working groups to help members support the running the charity more effectively. This continues to grow and be successful, creating a greater sense of community, helping the charity to move forward with our charitable aims. The Members Area of the website is more widely used for feedback and gathering data needed for both funders, and ourselves, to apply for funding.
Engagement
In this period 36 Lime Street actively developed community participation and engagement in the arts both within the building through open events/exhibitions/markets and beyond through artist’s outreach activities/wider practice. Notable to the success of the charities achievements is the noteworthy voluntary contribution of members to the running of our organisation which has increased significantly since becoming a charity. We have been working towards developing our engagement programme and continue to work hard behind the scenes to put the foundations in place to support this.
All our policies and procedures are now in place and will be reviewed yearly or as and when necessary. The board have also now completed the Risk Management Policy and are using a Risk Management Register during meetings to record risks as they are identified so actions can be recorded and reviewed.
Fundraising Activities Performance
In September 2025 the trustees decided to employ a professional fundraiser to apply for suitable grants and funding on our behalf. The Trustees continue to worked closely with ABILITY who took the fundraising strategy and information gathered previously to inform their applications on our behalf. This includes a substantial application for funding to Arts Council England to be match funded and to support the restoration and development of the building itself.
So far year 2025/26 we have received funding £3000 from the Barbour Trust.
36 Lime Street raised £1394 through the Open Studio fundraising raffles held at the November and March Open Studios events.
Building
We continue to work towards making our building accessible and to install double glazed windows to comply with our headlease. ABILITY have submitted a bid to Arts Council England for funds in support of this objective.
Risk Management
The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces through regular Board Meetings and confirm that systems have been established to mitigate these risks.
Current risks and approaches to mitigation
Governance
Thanks to our work with external consultant Naomi Kinghorn, and third sector support organisation Connected Voice, our policies and procedures are robust and systems in place that will enable us to expand our work and seek funding to do so.
Operational and Financial
We have a fully repairing lease on the Grade II listed building we occupy. The nature of the property means that we have ongoing maintenance costs, as well as larger repairs that need to be made to meet the terms of our lease and make the building safe for its occupants and the public. We need to ensure we have adequate Reserves Policy and fundraising strategies to be able to carry out these works and the cost of any unforeseen issues that may arise. The nature of the building, its riverside location and multiple occupancy means our Property Owners and Commercial Combined insurance and Flood Excess insurance is our highest and most unpredictable expense especially in a very uncompetitive market. We work closely with Lockton, our insurance brokers to make sure we get the best value possible and seek to make improvements to the building to help lower the perceived risks. Specific risk management plans are completed for larger projects. Any risk rated as high/critical is immediately reported to the Board. Risk Assessments are carried out for any public exhibitions, event and workshops. Each studio carries out a full Risk Assessment for their studio, including Fire Risk Assessments, and each artist is required to have their own Public Liability Insurance in place. We have a Fire Group, who oversees our external Fire Safety review and ensure that we carry out any necessary work to make sure we are compliant with regulations. This includes carrying out inspections to the building, organising regular fire alarm, smoke alarm and extinguisher tests and making sure all studios have an up-to-date FRA in place.
With the employment of our new manager many of our systems both financial and organisational have been streamlined making information easier to access and so more transparent.
The Trustees plan to employ a Buildings officer to assist with overseeing the general upkeep and safety of the building to ensure we are compliant with the current legislation around the safety of the building and its occupants.
Financial
The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place. The general escalation of costs due to inflation has seen expenditure increase across the board, along with the impact of the cost of living on small businesses, means that we may be at increasing risk of non-payment of rent, and higher turnover of tenants. We aim to mitigate against financial risks arising by:
• Ensuring that prudent budgets have been set for the next financial year.
• Annual rent reviews to ensure that rental income is still set at a fair but appropriate level
• Having a reserves policy allowing for flexibility and sustainability should unexpected costs occur
• Always ensuring we get value for money with suppliers and purchases
• Advertising new spaces immediately ensuring all studios are always in use.
PLANS FOR FUTURE YEARS
Fundraising
The trustees have identified a number of essential improvements required to maintain and enhance the property. Key priorities include the replacement of windows, enhancement of the front entrance, and significant improvements to accessibility throughout the building. To support these developments, we have employed professional fund raisers ABILITY.
Their expertise has led to a number of funding bids and an award of £3000 from Barbour Trust so far. Awards will ensure compliance with our head lease obligations while also making the premises more welcoming and accessible for members and the public. The proposed improvements will be financed through a combination of grant applications, community fundraising initiatives (such as raffles and collections), and the considered use of our financial reserves to employ the continued support of ABILITY and their efforts. These efforts reflect our ongoing commitment to safeguarding the building’s condition and ensuring it remains a valuable and inclusive community asset for years to come.
Governance
Now that all of our policies and procedures are in place we are able to build on our engagement strategy to develop more involved engagement activity within the building. We intend to continue seeking additional expertise from external partners and those on the board with experience in areas such as buildings management, fundraising and fire safety. This will provide a greater breadth of experience in our governance, and we will continue to liaise with the Community Foundation and the local community to seek these partnerships.
Programme and Partnerships
As we continue to lay the foundations for our engagement work, our focus over the coming years is to develop a more cohesive and accessible programme of community participation- both within our building and through potential outreach projects in the wider community. We will look to liaise with other charities, small businesses and organisations in the local area to build up contacts for future engagement opportunities and develop future partnerships that will enable us to deliver inclusive and meaningful activities that align with our charitable objectives. To support diversity and inclusion within 36 Lime Street we plan to start an artist/maker programme in our community space. This could provide artists from a variety of different backgrounds / ranges of experience with a space to work and deliver workshops.
We are hoping that the community space will be ready to be used on 2026/27 and that 36 Lime Street artists and external artists and businesses will make use of the space.
We have secured a booking for the gallery space for next year which will create an income and intend to do similar with the community space when it is complete. We have done some research into this which has led to the board deciding to pilot this for a period of time. If there is a demand then it will enable both an income stream for the charity and further exhibition/events opportunities for the public and local community.
Communication
We will continue to develop our website as a valuable resource for members, while also enhancing its public-facing content to make it more dynamic, informative, and engaging. In parallel, we will establish a comprehensive website and social media strategy aimed at strengthening our online presence. This will help us to better highlight opportunities for involvement and promote wider engagement with our charitable activities.
Building
Accessibility remains a key aim for the charity and our longer-term ambition is to improve the accessibility to the building for members and visitors. We have adopted a phased approach to providing step free access to 98% of building and workshop space, as well as improving and expanding gallery space and introducing an education space. We are committed to installing double-glazed windows across the 5 floors which is essential to fulfil our lease obligations.
Governing Documents
36 Lime Street is a charitable company limited by guarantee, incorporated on 27/06/1985 and registered as a charity on 22/08/2022. The charity is controlled by its governing document, its Memorandum & Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act. The Directors of the company are also Trustees of the charity. Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.
Charitable Purpose
The charitable objectives of 36 Lime Street are to advance the appreciation and understanding of the arts primarily but not exclusively the visual arts and crafts for the benefit of the public.
Structure and Governance
The charity currently has a Board of 8 non-executive Trustees and 34 Members (Plus 16 non-member studio users). All Members are leaseholders of a studio or workshop within 36 Lime Street and their activity supports our charitable objectives. Members inform 36 Lime Street’s activity and are consulted throughout the year, through their participation in working groups and at periodic General Meetings. When decisions are passed by ordinary resolution, an agreement is required by a simple majority of Members present and voting. Special resolutions require an agreement by 75% of Members present and voting. The Board meets a minimum of 8 times per year. A written Chair, Secretary and Treasurer’s report; a meeting agenda; reports from member’s working groups and any other necessary Board papers are prepared by the Chair, Treasurer, Company Secretary and any other relevant people to be circulated in advance of meetings. External trustees are always included in any financial decision making. In addition to Board meetings there are 5 General Meetings a year including the AGM, which are open to all Trustees and Members. 36 Lime Street is governed by the Board of Trustees with one staff member who oversees the day-to-day operations: During the year April 25 to March 26 the Studio and Buildings Managers were – Chloe Hurst and Emma Whitenstall. Key management remuneration: Studio & Buildings Manager 0.4 (£30,255 pro rata)
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:
The Contribution of Volunteers
The charity makes extensive use of volunteers. During this period, it is estimated that over 3000 hours were volunteered by Members and external people to support the charities activities, including delivery, fundraising, marketing and the management of the building.
Hours recorded by members for their voluntary contributions 2025/26:
Buildings 45.5
Membership and Governance 138.5
Community Programme 736
Financial and fundraising 114
Board members collectively contributed over 800 hours of time in attending meetings, undertaking administrative tasks, business development planning and fundraising.
Please refer to website for exhibitions, events and artists:
https://36limestreet.co.uk/
Reserve Policy
It is 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 three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Thirty-Six Lime Street Limited (the charity) for the year ended 31 March 2026.
Having satisfied myself that the financial statements of the charity 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 charity’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 charity 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.
Thirty-Six Lime Street Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Ouseburn Warehouse Workshops & Studios, 36 Lime Street, Newcastle upon Tyne, Tyne and Wear, NE1 2PQ.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
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 £.
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 charity 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 charity 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.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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:
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 average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
The trustees are working to accrue funds for the long term development and maintenance of the building. Our current scheme will cost in the region of 1m. Taking into account fundraising projections, we are working to build designated funds to cover upwards of 10% of this overall cost.
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
There were no disclosable related party transactions during the year (2025 - none).