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THE ART ACADEMY

Registered charity 1078804 · accounts filings on the Charity Commission register · also known as THE PAINTING ACADEMY, THE SCULPTURE ACADEMY · filing overdue (register status)

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Latest income
£2.0m
Latest spending
£2.1m
Registered
2000
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that the charity reported a net deficit of £75,923 for the year ended 31 August 2024, with total income of £2.03m against expenditure of £2.11m. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern, which is dependent on the sale of the Mermaid Court freehold property to restore free reserves to the target level of £390,000.

What the accounts disclose

Reserves policy: three months of operating expenditure (held: £259k)
“The target level of free reserves remains £390,000, equivalent to approximately three months of operating expenditure.” — page 9
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Trustees received commission on the sale of artwork at fundraising events.
“During the year 1 (2023 - 2) Trustee received commission on the sale of art work at fundraising events totalling £2,275 (2023 £3,994).” — page 35
“During the year, the Charity received income totalling £37,474 from Trustees. This income was received in respect of fundraising event tickets and auction pledges made at charity auction dinner events.” — page 35
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Trustees received income from fundraising event tickets and auction pledges.
“During the year 1 (2023 - 2) Trustee received commission on the sale of art work at fundraising events totalling £2,275 (2023 £3,994).” — page 35
“During the year, the Charity received income totalling £37,474 from Trustees. This income was received in respect of fundraising event tickets and auction pledges made at charity auction dinner events.” — page 35
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by UHY Hacker Young. Discloses 5 of 6 completeness components.

Structured financials (annual return, FY ending 31/08/2024)

Total income
£2.0m
Total spending
£2.1m
Cost of raising funds
£80k
Reserves (reported)
£309k
Employees
20

Reported reserves equal ~1.8 months of spending — in the bottom quarter for charities its size (median 4.8 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Throughout England And Wales

Income and spending

Financial year endIncomeSpending
31/08/2025——
31/08/2024£2.0m£2.1m
31/08/2023£1.9m£1.9m
31/08/2022£1.7m£1.9m
31/08/2021£1.3m£1.5m

Common questions

Is THE ART ACADEMY financially healthy?

The accounts state that the charity reported a net deficit of £75,923 for the year ended 31 August 2024, with total income of £2.03m against expenditure of £2.11m. The trustees acknowledge a material uncertainty regarding the charity's ability to continue as a going concern, which is dependent on the sale of the Mermaid Court freehold property to restore free reserves to the target level of £390,000. Its FY2024 accounts were audited by UHY Hacker Young.