Crate Studio & Project Space Limited - Charities report

REGISTERED COMPANY NUMBER: 05163003 (England and Wales)

REGISTERED CHARITY NUMBER: 1105867

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CRATE STUDIO & PROJECT SPACE LIMITED

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

14

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 2025. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Crate is an artist-led organisation based in East Kent supporting contemporary visual artists' research and practice. Crate promotes critical debate and the exchange of ideas without prescribed outcomes.

The building combines studio space and project space and is designed to give artists access to dedicated, affordable space for experimentation, production, documentation and research.

The Charitable objectives are:

1. To relieve financial hardship among people living or working in East Kent by providing such persons with affordable studio and project space which they could not otherwise afford through lack of means.

2. To advance the education and appreciation of contemporary art by providing seminars, workshops and exhibitions, and by providing opportunities for critical debate and professional development.

The Charity's objectives are for the benefit of the public, in particular members of the art community in Thanet and East Kent.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities and professional development

UCA/CRATE Graduate Award

The Grad Award did not occur this year. The programming team were focusing on other developmental outcomes and it was felt that the Residency Award would overreach our capacity.

CRATE Curated Project Space Programme

The Programming Group, led by a group of local artists and studio holders are interested in creating a programme providing opportunities for meaningful engagement offering welcoming and generous opportunities for public engagement, as well as providing a platform to diverse groups. The programming team was led by Steve Alan.

April 2024 - We supported two second year UCA groups to organise and show their work:

Living In Breathing Spaces by Kanoko Okuwa, Abigail Papell, and Venus Yung, and

"Nature's Daughter': An Exploration" by Sasha Edwards-Stoner and Kaitlan Woodham-Manza.

"REBELLIOUS SCARS" Performance & Solo Exhibition by Majada Sholi - "a Palestinian artist explores in this exhibition a world molded by the harsh realities of war and political turmoil. Here, amidst the tumult, the human spirit is challenged, its resilience and perseverance tested. Despite the absence of hope, Majada's work portrays a profound truth: that even in the darkest of times, we continue to press forward, driven by an enduring longing for life."

June 2024 - Kent based dance artists Sidonie Carey Green and Tom Tegento held a participatory performance project The Body As Data, working with local communities and artists to explore personal narratives and experience of borders. Through a series of creative movement workshops, site specific walking events, and filming using surveillance technologies, a film was created exploring how the 'body-as-data' can draw its own border by re-imagining the potential of drone technology and the power of walking practice. The project aimed to connect local communities who have experienced forced migration and give people the opportunity to come together to mobilise the border of the Kent coast from Margate to Folkestone. The events included workshops and walks.

October, November, and December 2024 - Jas Dhillon- Jas spent three months in the project space developing work around the theme of experiencing loss, self-care, mothering, reparenting, and food. The time was invaluable in supporting her to develop her practice and future ideas for future outcomes.

January 2025 - Elouise Farley "The Seagulls remind me of you" - "The evocative power of birdsong inspired Elouise's first solo exhibition. Created during a bleak period, where Elouise survived on Morrison's rotisserie chicken, snapping the wishbone in the kitchen by herself. This series of sculptures explore 'guts'-spilling them, being gutted, gutlessness, and the pecking out of guts, as in the Prometheus myth. The work also draws on the ugly cry of the seagull, reimagined as a Siren's call, and on birdsong as a trigger for memories that tie us to people and places'".

February 2025 - "Gameboy Camera Night" In 1998 Nintendo released the Gameboy Camera, the first handheld front facing camera. Unbeknownst to the world at time the "selfie camera" would become an integral part of modern society. Now a standard feature on smart phones, it has become a tool for global communication, self-expression and personal empowerment. Even giving way to a career path with the rise of the influencer. All this from a device designed to be a game, one that took influence from arcade photo booths.This event invites the public to take part in a photo shoot style event, where attendees will be given Gameboy cameras to take selfies with, play retro video game consoles from the era and have fun. A callback to and reminder of the origins of the selfie. Collected images will then be collated into a digital and print zine to be distributed to attendees.

Other Project Space Activity

The Crate Trustees remain committed to the project space as a flexible space provision for studio holders, and other artists.

June 2024 - Miriam Comber Exhibition -"Our Messy Emotions vs Automated Empathy" explores AI programming and its development in interpreting human emotion.

Lexi Smith "Daddy Was A StrongMan: works in progress" - Exhibition.

July 2024 - Russel Chater - "Dirty Linen" - Via an installation of painting and expanded painting, Russell Chater presents a (homo)erotic narrative with nods to both the autobiographical and art historical; the spiritual and the sexual. Thoughts around surface, touch, display and concealment are teased - with works, perhaps ultimately, a reflection on the nature of painting itself.

September/October 2024 - Space was hired out to Turner Contemporary for the development of the Anna Boghiguian show.

November 2024 - John Neary - 'Working towards an Expanded form of Painting.' - Exhibition.

FINANCIAL REVIEW

Primary income this year was from studio rents.

For much of the year the project space was given over to the programme and private hire.

Grant funding raised for the project space programme provides CRATE with significant opportunities to fulfill its charitable objectives and actively engage in supporting innovative fine art practice.

There are a set of financial requirements and potential developments that CRATE has given consideration to over this year, and that the Board of Trustees will continue to give time to. These include: a strong commitment to provide low cost studio space for artists, the need to increase reserves to maintain and develop the building; the ambition to support fine art practice through an ambitious programme in the project space. How to balance these needs, and ensure CRATE has a long term sustainable future, is a major priority as CRATE moves forward.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 1985. The Charity is managed by a Board of Trustees who meet regularly during the year.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

05163003 (England and Wales)

Registered Charity number

1105867

Registered office

The Printworks, 1 Bilton Square

Off the High Street

Margate

Kent

CT9 1EE

Trustees

M Derby Senior Lecturer

C L Yates Artist (appointed 10/11/2024) (resigned 18/5/2025)

L Clarke Director

M F X De Pulford Director (resigned 1/11/2024)

Mrs P C Scott-cumming Director (resigned 23/11/2024)

Ms N Marshall Director

Ms C Ackah-Annobil (appointed 3/4/2025)

Ms M Webster (appointed 3/4/2025)

Ms L Howarth (appointed 3/4/2025)

Ms C Reeves (appointed 3/4/2025)

Company Secretary

Ms J Murray

Independent Examiner

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

Approved by order of the board of trustees on 30 November 2025 and signed on its behalf by:

M Derby - Trustee

Independent examiner's report to the trustees of Crate Studio & Project Space Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 Company as required by Section 386 of the 2006 Act; or

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

3.	the accounts 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 accounts 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.

Andrew Cannon

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

30 November 2025

2025

2024

Unrestricted

Restricted

Total

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Provision of artists studios & project spaces

16,253

3,983

20,236

35,973

Investment income

2

21

-

21

19

Total

16,274

3,983

20,257

35,992

EXPENDITURE ON

Charitable activities

3

Provision of artists studios & project spaces

17,618

2,485

20,103

41,659

NET INCOME/(EXPENDITURE)

(1,344

)

1,498

154

(5,667

)

RECONCILIATION OF FUNDS

Total funds brought forward

26,548

213,506

240,054

245,721

TOTAL FUNDS CARRIED FORWARD

25,204

215,004

240,208

240,054

2025

2024

Unrestricted

Restricted

Total

funds

Notes

£

FIXED ASSETS

Tangible assets

7

11,252

215,000

226,252

CURRENT ASSETS

Debtors

8

1,553

-

1,553

1,703

Cash at bank

13,705

4

13,709

14,920

15,258

4

15,262

16,623

CREDITORS

Amounts falling due within one year

9

(1,306

)

-

(1,306

)

(2,821

)

NET CURRENT ASSETS

13,952

4

13,956

13,802

TOTAL ASSETS LESS CURRENT
LIABILITIES

25,204

215,004

240,208

240,054

NET ASSETS

25,204

215,004

240,208

240,054

FUNDS

11

Unrestricted funds

25,204

26,548

Restricted funds

215,004

213,506

TOTAL FUNDS

240,208

240,054

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 30 November 2025 and were signed on its behalf by:

M Derby - 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.

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.

Tangible fixed assets

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

Freehold Property

-

nil

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.

2.	INVESTMENT INCOME

2025

2024

£

Deposit account interest

21

19

3.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 4)

Totals

£

Provision of artists studios & project
spaces

18,224

1,879

20,103

All costs are allocated between the expenditure categories on the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, other costs where applicable are apportioned on an appropriate basis.

4.	SUPPORT COSTS

Governance

Other

costs

Totals

£

Provision of artists studios & project spaces

362

1,517

1,879

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

2025

2024

Provision

of

artists

studios &

project

Total

spaces

activities

£

Bank charges

60

Marketing and promotional costs

302

324

Sundries

407

568

Accountancy and legal fees

1,110

1,499

1,879

2,451

5.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Provision of artists studios & project spaces

16,301

19,672

35,973

Investment income

19

-

19

Total

16,320

19,672

35,992

EXPENDITURE ON

Charitable activities

Provision of artists studios & project spaces

17,127

24,532

41,659

NET INCOME/(EXPENDITURE)

(807

)

(4,860

)

(5,667

)

RECONCILIATION OF FUNDS

Total funds brought forward

27,355

218,366

245,721

TOTAL FUNDS CARRIED FORWARD

26,548

213,506

240,054

7.	TANGIBLE FIXED ASSETS

Freehold

Property

£

COST

At 1 April 2024 and 31 March 2025

226,252

NET BOOK VALUE

At 31 March 2025

226,252

At 31 March 2024

226,252

8.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

344

494

Prepayments

1,209

1,553

1,703

9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts (see note 10)

-

1,494

Other creditors

1,306

1,327

1,306

2,821

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

Amounts falling due within one year on demand:

Bank overdrafts

-

1,494

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1/4/24

in funds

31/3/25

£

Unrestricted funds

General fund

15,296

(1,344

)

13,952

Designated Freehold

11,252

-

11,252

26,548

(1,344

)

25,204

Restricted funds

Restricted Freehold

215,000

-

215,000

ACE Grant

(1,494

)

1,498

4

213,506

1,498

215,004

TOTAL FUNDS

240,054

154

240,208

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

16,274

(17,618

)

(1,344

)

Restricted funds

ACE Grant

3,983

(2,485

)

1,498

TOTAL FUNDS

20,257

(20,103

)

154

Comparatives for movement in funds

Net

movement

At

At 1/4/23

in funds

31/3/24

£

Unrestricted funds

General fund

16,103

(807

)

15,296

Designated Freehold

11,252

-

11,252

27,355

(807

)

26,548

Restricted funds

Restricted Freehold

215,000

-

215,000

ACE Grant

3,366

(4,860

)

(1,494

)

218,366

(4,860

)

213,506

TOTAL FUNDS

245,721

(5,667

)

240,054

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

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

16,320

(17,127

)

(807

)

Restricted funds

ACE Grant

19,453

(24,313

)

(4,860

)

Lizzy Rose Exhibition

219

(219

)

-

19,672

(24,532

)

(4,860

)

TOTAL FUNDS

35,992

(41,659

)

(5,667

)

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

Net

movement

At

At 1/4/23

in funds

31/3/25

£

Unrestricted funds

General fund

16,103

(2,151

)

13,952

Designated Freehold

11,252

-

11,252

27,355

(2,151

)

25,204

Restricted funds

Restricted Freehold

215,000

-

215,000

ACE Grant

3,366

(3,362

)

4

218,366

(3,362

)

215,004

TOTAL FUNDS

245,721

(5,513

)

240,208

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

32,594

(34,745

)

(2,151

)

Restricted funds

ACE Grant

23,436

(26,798

)

(3,362

)

Lizzy Rose Exhibition

219

(219

)

-

23,655

(27,017

)

(3,362

)

TOTAL FUNDS

56,249

(61,762

)

(5,513

)

The Restricted Freehold Fund of £215,000 represents grant monies received of £115,000 from the East Kent Partnership (Seeda with Thanet District Council as the accounting body) and £100,000 from The Arts Council South East on which restrictions are still in place.

12.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

13.	CHARGE ON FREEHOLD PROPERTY

In 2005 grant monies were received from the East Kent Partnership (SEEDA with Thanet District Council as the accounting body) on which there is a legal charge over the property in favour of Thanet District Council of £120,122.

In 2006 grant monies were received from The Arts Council on which there is a legal charge over the property of £100,000.