MILL ARTS CENTRE TRUST
Opened in 1990 The Mill is a multi-function arts centre and the only dedicated arts provision in the busy market town of Banbury in Oxfordshire. We have audiences of around 5,000 people per year buying 17,000 individual performances, events, classes and workshops.
Financial health, per its FY2025 accounts
The accounts state that the charity ended the year with a net deficit of £112,012, resulting in a combined negative fund balance of £66,931. Per the trustees' report, unrestricted reserves of £(79,991) are well below the stated policy target of approximately £90,000, though the trustees maintain a going concern basis citing strong cashflow and expected stabilization in the coming year.
What the accounts disclose
“Although the current level of free (unrestricted) reserves is well below the target level identified above” — page 8
“The Mill Arts Centre building is owned by Oxfordshire County Council and leased to the Trust on a peppercorn rent. In addition, Oxfordshire County Council provides facilities management and supply of utilities to the Trust as support in kind.” — page 12
“Cherwell District Council supports the Trust through an annual public subsidy of £106,270. An officer of the council sits as an observer on the Board of Trustees to oversee application of these funds.” — page 12
“The Mill Arts Centre building is owned by Oxfordshire County Council and leased to the Trust on a peppercorn rent. In addition, Oxfordshire County Council provides facilities management and supply of utilities to the Trust as support in kind.” — page 12
“Cherwell District Council supports the Trust through an annual public subsidy of £106,270. An officer of the council sits as an observer on the Board of Trustees to oversee application of these funds.” — page 12
Structured financials (annual return, FY ending 31/03/2025)
Trustees
- Barbara Baseley-Smithchair
- Al Miller
- Andrew McHugh
- Annalysa Godin
- Catherine Richeldis Snelling
- Karen Warren
- Katalin Lacey
- Rafael Oliveira Lima
- Robert Pattenden
- Sarah Louise Norton
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £938k | £1.1m |
| 31/03/2024 | £945k | £923k |
| 31/03/2023 | £726k | £721k |
| 31/03/2022 | £685k | £663k |
| 31/03/2021 | £465k | £423k |
Common questions
Is MILL ARTS CENTRE TRUST financially healthy?
Per its FY2025 accounts: The accounts state that the charity ended the year with a net deficit of £112,012, resulting in a combined negative fund balance of £66,931. Per the trustees' report, unrestricted reserves of £(79,991) are well below the stated policy target of approximately £90,000, though the trustees maintain a going concern basis citing strong cashflow and expected stabilization in the coming year. Its FY2025 accounts were independently examined.
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| UK government | 13/10/2022 | £183k | National Portfolio Organisations |
| UK government | 13/10/2022 | £183k | National Portfolio Organisations |
| UK government | 22/10/2021 | £30k | Culture Recovery Fund: Continuity Support |
| The National Lottery Community Fund | 23/01/2020 | £1k | Now That's What I Call Dancing Banbury 2020 |
| The National Lottery Community Fund | 07/08/2019 | £10k | Early StARTS |
| The National Lottery Community Fund | 14/06/2018 | £10k | creative, connected communities in bicester |