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BORLASE SMART JOHN WELLS TRUST LIMITED

Registered charity 1118840 · accounts filings on the Charity Commission register

PROMOTION OF ART IN ST IVES & WEST CORNWALL THROUGH PROVISION OF STUDIOS, AND PROVIDE FOR THE GENERAL PUBLIC'S ENGAGEMENT WITH THE WORK OF STUDIO OCCUPANTS.

Causes: Arts/culture/heritage/science · website · Get email alerts

Latest income
£404k
Latest spending
£183k
Registered
2007
Accounts read
FY2025

Financial health, per its FY2025 accounts

The accounts state that the charity made a modest surplus and holds total unrestricted and restricted funds of £5,044,710. The trustees report that overall income and expenditure were close to budget and that the charity is rebuilding its reserves to ensure financial sustainability. The auditors confirmed that the financial statements give a true and fair view and identified no material uncertainties regarding going concern.

Automated summary of the FY2025 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Reserves policy: sufficient working capital to maintain operations in the event of a sudden and unexpected loss of income, and to build a sinking fund to cover the future maintenance requirements of its buildings (held: £5.0m)
“The trustees have identified an adequate level of reserves for the Trust, which will include sufficient working capital to maintain operations in the event of a sudden and unexpected loss of income, and to build a sinking fund to cover the future maintenance requirements of its buildings.” — page 5
Per its FY2025 accounts as filed with the Charity Commission.

Accounts audited by BK Plus Audit Limited. Discloses 5 of 6 completeness components.

Property (HM Land Registry)

5 registered titles in England and Wales held by the charity’s company or corporate body (5 freehold). All charity-held property. Contains HM Land Registry data © Crown copyright, OGL v3.0.

Structured financials (annual return, FY ending 31/03/2021)

Total income
£560k
Total spending
£103k
Cost of raising funds
£12k
Reserves (reported)
£256k
Employees
2

Reported reserves equal ~29.9 months of spending — in the top quarter for charities its size (median 7.0 months; benchmarks).

Per its annual return, largest income source: Donations and legacies (82% of income) — components as reported reconcile to the return’s total income; not from the accounts narrative.

Per its annual return, cost of raising funds: 2.1% of total income — below the median for charities its size (2.9%) (benchmarks).

Trustees · trustee networks

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

Operates in: Cornwall

Income and spending

Financial year endIncomeSpending
31/03/2025£404k£183k
31/03/2024£310k£200k
31/03/2023£141k£129k
31/03/2022£127k£143k
31/03/2021£560k£103k

Common questions

Is BORLASE SMART JOHN WELLS TRUST LIMITED financially healthy?

Per its FY2025 accounts: The accounts state that the charity made a modest surplus and holds total unrestricted and restricted funds of £5,044,710. The trustees report that overall income and expenditure were close to budget and that the charity is rebuilding its reserves to ensure financial sustainability. The auditors confirmed that the financial statements give a true and fair view and identified no material uncertainties regarding going concern. Its FY2025 accounts were audited by BK Plus Audit Limited.

Who funds BORLASE SMART JOHN WELLS TRUST LIMITED?

Funders whose own accounts filings name BORLASE SMART JOHN WELLS TRUST LIMITED as a grant recipient include THE FREELANDS FOUNDATION LIMITED.

Known funders

Grants to this charity found in funders’ own accounts filings.

FunderYearAmountPurpose (as stated by the funder)
THE FREELANDS FOUNDATION LIMITEDFY2023£48kPorthmeor Residencies

Government & lottery funding

Grants to this charity published as open data by government and lottery funders (360Giving).

FunderDateAmountPurpose
The National Lottery Heritage Fund05/12/2017£338k"Renovation and refit of Grade II* Anchor Studio, Newlyn"
The National Lottery Heritage Fund01/12/2009£534k"Renovation of Porthmeor Studios & Cellars"