OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02492368 (England and Wales) REGISTERED CHARITY NUMBER: 1001237

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

CRAFTSPACE

Prime Chartered Accountants 161 Newhall Street Birmingham B3 1SW

CRAFTSPACE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Reference and Administrative Details 1
Chair's Report 2 to 3
Report of the Trustees 4 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13 to 14
Notes to the Financial Statements 15 to 22

CRAFTSPACE

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES S F Boersma A Collier S B Jones C E Miller R A Ndibalema N Pearlman M B Rhodes K Thompson COMPANY SECRETARY D Figueiredo REGISTERED OFFICE Unit 15, Highgate Craft Centre 8 Highgate Square Birmingham B12 0DU REGISTERED COMPANY 02492368 (England and Wales) NUMBER REGISTERED CHARITY 1001237 NUMBER INDEPENDENT EXAMINER Prime Chartered Accountants 161 Newhall Street Birmingham B3 1SW

Page 1

CRAFTSPACE

CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Introduction

Craftspace is a leading craft development organisation that champions the power of contemporary craft and making to stimulate change in society. We do this through talent development; creating opportunities for artists to innovate, experiment and collaborate and through engaging diverse communities in making for well-being, learning, enterprise, personal and skills development.

Our work contributes uniquely to the UK's rich cultural landscape, creating inspiring encounters between the public and craft which challenge traditional boundaries and perceptions of what craft is. Our approach is underpinned by a desire to be a learning organisation, testing different methodologies through building relationships with and transferring knowledge between a variety of partners and agencies.

The Board and staff of Craftspace are proud of our artistic and engagement programmes which demonstrate the role of craft in community building and as a means to care for ourselves, each other, the wider community and the environment/planet. We believe craft is a connector: between maker and object, maker and the environment, and between people in communities.

Craftspace is committed to playing a leadership role in developing and supporting the contemporary craft sector and deepening public participation in craft. I would like to thank all our investors and donors, particularly Arts Council England who invest in Craftspace as a National Portfolio Organisation.

Programme Highlights

The year began with In:Site festival in Birmingham Cathedral Square where 14 applied arts graduates engaged with the public through a range of hands-on making activity. Having participated in a professional development programme comprising talks, workshops and mentoring the artists brought to fruition their projects as a final outcome. The creative outputs were displayed in the cathedral for visitors to view during the week. Artists reported a range of benefits including building, confidence, supportive peer network and learning of new knowledge, know-how a nd skills.

Our Making for Climate Change project engaged LGBTQ+ young people aged 16+ in programme of creative craftivist (craft+activism) activities in different locations across Birmingham. It was led by an LGBTQ+ youth producer who was supported by a mentor and workshops were facilitated by 5 artists. The creation of safe space enabled participants express their views on and learn about climate change and the environment. It culminated in a Climate Cafe event at Centrala open to all with creative activities facilitated by artists. A temporary display of all the work created through the programme made visible the story of the project and provided a means for young people's voices heard and shared. Evaluation showed that participants felt very strongly motivated to do more creative things and a significant percentage had increased awareness about issues in the environment and new insight and knowledge. Similar outcomes were achieved in a climate focused six week project with Heart of Birmingham Vocational College whose learners have special educational needs and/or autism. A textile artist and creative producer facilitated a series of five themed workshops focusing on different actions such as re-use and repair, each linked to learning a craft skill. Evaluation showed that participants learnt new skills, gained new knowledge and built confidence. The young creative facilitator reported growth and development from the experience of working alongside a professional artist and accessing mentoring.

The end of the year saw the launch of Made in the Middle regional touring exhibition in partnership with the Leicester Gallery at De Montfort University. It was the ninth edition in a recurring series of exhibitions which between them have charted four decades of professional contemporary craft practice in the Midlands. At the milestone of a quarter century, the wide ranging work of 37 artists plus our associated projects draw out the many reasons why craft and making matter and are relevant. The curation includes a reflection on the cultural impact of global migration and the influence of a global diaspora on creativity. Artists reported that they felt supported to take creative risks and benefitted from networking with peers and the press coverage that the exhibition received. Associated projects included: Stories of Making and Migration, a digital commission which celebrated everyday stories of community making and Crafting Pathways in which young people participated in a unique opportunity to work one-to-one with an artis t in their studio.

Page 2

CRAFTSPACE

CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Operations and Fundraising

The board and staff participated in a strategic review process with an external facilitator in order to develop a new business plan. We reflected on mission/purpose, values and value proposition, operating model and financial position/viability. As the year ended board and staff continued to explore and identify the key internal and external opportunities and challenges for Craftspace and think about the people, resources and actions required to achieve its aspirations.

Our new finance sub group of the board became embedded into financial governance providing scrutiny, advice and additional capacity. The fundraising environment continued to be incredibly challenging making the need to increase our percentage of earned income more urgent. In addition to selling artworks by artists featured in Made in the Middle exhibition we began development of producing craft kits for sale. To this end we identified regional artists to trial production of three high quality craft kits: paper, weaving and collage. Working with a graphic design company the branding was developed with the concept of 'Workshop in a Box', each kit would comprise materials, tools and instructions. Towards the end of the year there was a product testing workshop with a small group.

We continued to improve and embed our data collection, evaluation and monitoring processes through use of the Insight & Impact Toolkit. To determine the success of our reach we benchmarked our annual data participants and audiences against other visual arts organisations in the Midlands. F: Data showed where we were above and below the benchmark: for those aged 16-29 we were 21.85% above the benchmark. For those identifying as: white we were 35.92% below, straight - 16.87% below, disabled - 4.7% above, neurodiverse - 12.13% above. We therefore had greater success than others in our sector in reaching young, ethnically diverse, LGBTQ+, disabled and neurodiverse people.

During the year, the board reviewed our attitude to risk, risks policy and register. We maintained our reserves policy including a designated reserve for artistic programme development in line with our charitable objectives. With diminishing public funds and a challenging economic climate for fundraising this fund provides a vital means of innovating, seeding new ideas and testing new approaches to sustain the organisation. With some funders investing in projects in advance, we continue to hold and carry over funds in specific/restricted reserves. Funds are then brought in each year to offset expenditure for ongoing projects. It is owing to good governance, planning and delivery that the organisation continues to be sustainable and resilient and I would like to thank all of the members of the board for their ongoing expertise, advocacy and commitment.

One of our core values is to devise projects which have lasting and positive impacts upon both individual artists, participants, organisations and their wider communities. The active legacies of many of the projects described above are testament to our ability to continue to enact our values. Many of these would not have been possible without the support of our funders and partners, and I would like to thank them all.

Finally, and most importantly, I would particularly like to thank the staff of Craftspace for their hard work and commitment in fulfilling our purpose. Not only do they continue to excel in delivering the objectives of the organisation, they are also forever looking for new ways to develop and expand our impact. We are fortunate to have such an exceptional and inspiring team.

Matthew Rhodes Chair October 2025

Page 3

CRAFTSPACE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

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

Craftspace is a creative producer, a sharer of knowledge, expertise and experience and conduit for signposting, partnerships and making connections between people and organisations to grow engagement with craft.

Our programme is devised to stimulate artistic excellence, critical thinking, curiosity, experience and understanding of contemporary crafts in the widest social and diverse cultural contexts and across ages. We achieve this through our core activities of touring exhibitions, creative productions, research partnerships and learning, participation and engagement projects. Our activities challenge public perceptions of craft by consciously creating highly focused, high quality, enquiring, engaging and bespoke collaborations. Through this makers gain new perspectives on their practice and audiences gain deep insight and experience. In supporting artists to make new work as cultural capital we also build social and human capital through engagement with the ideas and practice of making.

In delivering our programme we evaluate our work to achieve the following outcomes:

Artists : Artistic experimentation and professional development, increased capacity to engage with audiences, connection to networks and profile.

Audiences and participants : Creative learning, transformation, well-being, skills-development, progression and social-cohesion.

Page 4

CRAFTSPACE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Our working process continues to involve all project partners in planning and consultation, investing staff time in providing support, sharing, reflection and evaluation. Our achievements are only possible through the exceptional skills, knowledge and expertise of our staff and board whose commitment and willingness to test different ways of working keeps the organisation at the forefront of innovation in our sector. We also acknowledge that success also derives from engaging the active support and participation of our funders, partners, clients and donors.

Artistic and Community Engagement Programme 2024/25

Activities to report on in addition to the commentary in the Chair's report:

Made in the Middle touring exhibition

As part of the exhibition curation we invited independent, early career, Nottingham-based curator Jazz Swali to select six artists whose experiences, ideas, and practices reflected the positive cultural impact of global migration to the region. We also convened and worked with an access advisory group on all aspects of developing the exhibition. The outcomes included a virtual tour of the exhibition, a pre-recorded BSL tour and audio description tour of selected works. The exhibition was opened by Darren Henley, Chief Executive of Arts Council England with 224 people attending the private view. We were pleased to secure cash sponsorship of £1100 from Fieldings Auctioneers, Lunts Castings and VSM UK Ltd to award four prizes to exhibiting artists. Press coverage included BBC TV, radio and various sector print and online coverage. The main exhibits were accompanied by a display of shop stock items by some of the artists achieving sales of £2000 at the first venue.

Statistics:

There were 150 applications to the open entry callout, significantly more than the previous exhibition. The result of extra work and investment in making the callout as accessible as possible including in-person and online briefings and application advice sessions. 60% of the selection panel of experts were from diverse Global Majority backgrounds. The panel selected 31 exhibitors. Out of 23 artists who completed the equal opportunities form, 13% were from the Global Majority and 43% identified as disabled or neurodiverse - an increase from the previous exhibition.

There were two associated projects:

Stories of Making and Migration was a digital commission to Hayley Salter, a Birmingham based photographer, film-maker and creative producer. She identified 10 people/groups in Birmingham and Leicester and recorded their stories of everyday making celebrating the importance of making within community life. A collated film was included in Made in the Middle exhibition whilst separate content was edited for the website to be ad ded later.

We began Crafting Pathways project, in partnership with The King's Trust (formerly The Prince's Trust) and South & City College Birmingham began. 3 artists showing in Made in the Middle were selected to provide 3 diverse young people with a unique chance to work creatively one-to-one with them in their studio for 5 days. Their placement also involved a go and see visit and other bespoke learning opportunities. Each participant aimed to complete an artwo rk for display in Made in the Middle exhibition.

Dorcas Stories from the Front Room, Caribbean textile narratives then and now exhibition

A small curation of the larger exhibition from the previous year was installed at Pannel Croft Retirement Village in Birmingham. A group of elders had created a textile panel depicting the contribution of the Caribbean Windrush generation to British life through the work they did and roles they played. This had been included in the larger exhibition and the smaller curation had the intention of taking it back for permanent display. New material was added to the curation in the form of personal archives and objects from the participating elders. Also included was a small display of garments by a local Caribbean fashion designer. A sharing event included a talk by textile artist and curator Dr Rose Sinclair and a Windrush flag ceremony. Participants reported that they felt proud and realised the value of their archives and visitors expressed appreciation for their contribution.

Page 5

CRAFTSPACE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Shelanu Women's Craft Collective

The members met weekly to participate in studio sessions making jewellery for sale. They participated in a skills development workshop with artist Jennifer Collier at Unit Twelve in Staffordshire. They were paid to deliver three community workshops and sold work at craft fairs and other retail opportunities in the city.

Making for Climate Change with Deaf and Hard of Hearing (HoH) young people

This project was in development for delivery in the following year. In order to ensure the project was Deaf-led, we engaged consultant Deaf & HoH artist Omeima Mudawi Rawlings to develop the brief and take part in interviews for recruitment of a Deaf & HoH artist/creative producer to take a lead role. The role was advertised with a BSL video campaign resulting in a good number of Deaf & HoH applicants. Birmingham based Deaf & HoH artist Maral Mahmaghani was recruited, briefed, contracted and began developing a plan.

How to Heal, Queering the Wye final project activities included the artists Oliver Bliss and Annie Higgins delivering a non-gendered spirit form creative workshop at the Merry Monmouth event in Drybridge Park, Monmouth as part of the Wye Valley River Festival. Annie Higgins delivered a queer ecology talk and stitching workshop at Brum Buzzcut Festival at Birmingham Back to Backs to coincide with Birmingham Pride. A series of social media posts drew on themes from the resource. Artists reported that participating in project had supported their own personal development and they had gained new knowledge which enabled them to re-evaluate their queerness.

A legacy web resource was produced and uploaded to Craftspace website and included: a commissioned piece of writing from LGBTQ+ artist Annie Higgins, excerpts of a talk by LGBTQ+ Climate Activist Jasmine Isa Qureshi, visual contributions from a young LGBTQ+ participant and three making activities created by the project artists. A postcard with details of the resource was distributed more widely by other LGBTQ+ artists and projects.

Drag Declares Emergency with LGBTQ+ and disabled artist and drag king Lady Kitt is an ongoing project developed by the artist independently following an original commission in 2022/23. In this year Lady Kitt collaborated with Craftspace to co-host a creative workshop in Birmingham. The focus was climate emergency from a disability perspective. Craftspace used the opportunity to offer a paid shadowing and mentoring opportunity t o a Birmingham based trans woman textile undergraduate.

Participants reported that they felt represented and heard and the shadow artist reported that they valued the work experience within a safe environment.

Consultancy

We began the second phase of a contract with Imperial College London to manage a Birmingham element of a national public engagement 'Women and Asthma' project. It brought together researchers with lived experience participants using craft to facilitate conversations. We developed a British Council funded proposal to exhibit the work of two artists from Made in the Middle exhibition at the Serendipity Arts Festival 2025 in Goa.

General operations

Towards the end of the year our Administrative Assistant returned from maternity leave and initially trialled a job share with the Administrative Assistant maternity cover however she then left and the job reverted to one person.

During the year staff took part in a learning session with Culture Counts around analysing and understanding data from our Impact & Insight toolkit dashboard. All board and staff were also involved in the strategic review process. The Director and finance sub group of the board commissioned an HR company to undertake salary benchmarking and review of pay policy.

Page 6

CRAFTSPACE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

In summary, our exhibitions, creative productions and projects have engaged excellent artists/practitioners at different stages of their career. Craftspace staff influence the sector through advocacy, giving talks, presenting at conferences, writing articles and through the roles they play on steering groups, boards and committees. Craftspace is recognised as being well positioned to influence the way contemporary crafts is practised and experienced amongst the widest social, cultural and artistic constituencies. Through its work, it has championed and demonstrated a wider civic role for artists.

Statistics and list of key exhibitions, events and projects

Exhibitions

Dorcas Stories from the Front Room, Caribbean Textile Narratives Then and Now at Pannel Croft Retirement Village, Birmingham

Made in the Middle at Leicester Gallery, De Montford University

30 studio visits by curator and co-curator, 31 artists selected by an expert panel from open call (out of 23 artists who completed the equal opportunities form, 13% Global Majority, 43% identified as disabled or neurodiverse), 6 invited artists (4 Global Majority, 2 Eastern European), 134 new or existing artworks.

Other creative productions

In:Site Artist Development Programme and Festival, Birmingham Cathedral Square

Artist development programme:

In:Site festival:

Events and participatory, learning and audience development projects

Made in the Middle exhibition open callout campaign - advice sessions for artists and online networking event for selected artists

Shelanu Women's Craft Collective with migrant and refugee women

41 in-person creative studio sessions attended by 7 members Inclusion in craft selling fairs:

Shelanu Women's Craft Collective workshops in Birmingham, Black Country and Hereford

Page 7

CRAFTSPACE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Making for Change: How to Heal, Queering the Wye, Creative workshops

Making for Climate Change: LGBTQ+ young people

Making for Climate Change in partnership with Heart of England Vocational College, Birmingham

Workshop in a Box

Drag Declares Emergency with artist Lady Kitt disability focused Eco Drag Challenge workshop

Consultancy

I mperial College London, Women and Asthma public engagement national project Workshop, Library of Birmingham, 28.09.2024, 6 attendees

Publishing

Made in the Middle exhibition catalogue

Digital content production

Stories of Making and Migration digital commission - film and photography for website How to Heal resource

Made in the Middle: Virtual tour, BSL pre-recorded tour, Audio Description pre-recorded tour.

Online presence

Existing archives/resources:

Making for Change Expo - 75 engaged users (a session lasting 10 seconds or more) Made in the Middle 30 - 1602 engaged users

We Are Commoners Virtual Tour - 18 engaged users Fourthland - 2 engaged users

Dorcas Stories from the Front Room Virtual Tour - 95 engaged users Drag Declares Emergency - 87 engaged users

Craftspace social media

Instagram (5862 followers), Facebook (3.1K followers), Flickr, YouTube, Pinterest

Placements and volunteers

2 HE placement students from the University of Birmingham 14 volunteers

Page 8

CRAFTSPACE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Financial position

Total incoming resources received in the year to 31 March 2025 was £337,561 (2024: £362,576) derived mainly from donations and legacies. In the year ended 31 March 2025, there was total expenditure of £360,661 (2024: £331,817). For further detail, the income and expenditure account for the year is set out on page 13.

Reserves policy

As shown in the Statement of Financial Activities on page 13, the combined Restricted and Unrestricted funds show a net deficit of £23,100 (2024: surplus of £30,759), leaving a total funds carried forward balance of £360,831 (2024: £383,931).

Craftspace is a not-for-profit company limited by guarantee and is an educational charity. The reserves policy is devised to support the organisation's ability to be resilient and adaptable to change. In respect of reserves at the end of each financial year the company has agreed the following policy:

Unrestricted Reserves:

The company aims to maintain annual general unrestricted reserves amounting to at least three months running costs to include fixed overheads and salaries. Designated Reserves:

Where appropriate and in line with charitable objectives and strategic plans, the company will create designated categories within unrestricted reserves to meet future capital or research and development costs. Currently the company has designated funds for:

Restricted Reserves:

Trustees approve all use and transfers of funds in restricted and unrestricted (including designated) reserves on presentation of quarterly financial accounts at each meeting.

Page 9

CRAFTSPACE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FUTURE PLANS

This was the second year of a three year National Portfolio Organsiation funding agreement with Arts Council England. This investment enables the organisation to lever in other funds and income to develop and deliver its programme. An activity plan submitted as part of the application forms the focus of delivery for three years until March 2026. The organisation is working towards completing a strategic review of its mission, value proposition, structure and programme with production of a new business plan. Owing to the impact of changes to government Arts Council England confirmed a one year extension to our funding agreement until March 2027 and announced that we will be invited to apply for a further extension to March 2028.

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 2006.

Charity constitution

Craftspace is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Charity number 1001237. Company number 2492368.

Organisational structure

The organisation is managed by voluntary Trustees comprising members with diverse business, financial, strategic and sector specific knowledge and skills, selected to work as a team, to make effective management decisions at quarterly meetings, and to be available for individual consultation to provide expertise in specialist areas. Members are recruited through recommendation, solicitation and advertising. Trustees see themselves as being primarily responsible for overall strategic direction as well as ensuring the proper governance, financial and organisational viability of Craftspace. They ratify and review all policy documents and also comment on artistic policy but do not direct it. Trustees delegate authority to the Director for strategic and financial management of the company and its staff.

In this year it had nine voting member until 23 November 2023, then it had eight, including a Chair and met four times for formal business and at other times for an informal meeting with staff. Meetings are also attended by an officer from Arts Council England who represents funder interests. The Director of the organisation acts as Secretary to the Council of Management. Craftspace is a company limited by guarantee and an educational charity.

Core Staffing for the year

Deirdre Figueiredo - Director F/T

Emma Larkinson - Operations and Development Manager P/T

Simona Matuozzo - Administrative Assistant P/T (on maternity leave until December, returned briefly and left February 25).

Smilla Kristensen - Administrative Assistant P/T maternity cover (until January 2024, appointed permanently February 25)

Lisa Falaschi - Marketing Manager P/T

Emma Daker - Exhibitions and Project Development Manager F/T

Deirdre Buckley - Learning and Engagement Manager P/T job share

Katy Sadler - Learning and Engagement Manager P/T job share

Approved by order of the board of trustees on .[2] . . .[9] . .[.] .[1] . . .[0] . .[.] . .[2] . .[0] . . .[2] . .[5 .. ] and signed on its behalf by:

................................................................. D Figueiredo - Secretary

Page 10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CRAFTSPACE

Independent examiner's report to the trustees of Craftspace ('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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.

Jeremy Kitson The Institute of Chartered Accountants in England and Wales

Prime Chartered Accountants 161 Newhall Street Birmingham B3 1SW

Date: .............................................

Page 11

CRAFTSPACE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
INCOME AND ENDOWMENTS FROM
Notes
funds
£
Donations, legacies and grants
2
236,972
Other trading activities
3
13,851
Investment income
4
14,980
Total
265,803
EXPENDITURE ON
Raising funds
5
78,990
Charitable activities
Governance costs
6,581
Support Costs
Costs of artistic programme and other
activities
93,578
89,063
Other
286
Total
268,498
NET INCOME/(EXPENDITURE)
(2,695)
Transfers between funds
15
(3,000)
Net movement in funds
(5,695)
RECONCILIATION OF FUNDS
Total funds brought forward
231,542
TOTAL FUNDS CARRIED FORWARD
225,847		 Restricted
fund
£
56,530
15,228
-
71,758
-
-
26,647
65,516
-
92,163
(20,405)
3,000
(17,405)
152,389
134,984		 2025
Total
funds
£
293,502
29,079
14,980
337,561
78,990
6,581
120,225
154,579
286
360,661
(23,100)
-
(23,100)
383,931
360,831		 2024
Total
funds
£
321,288
32,897
8,391
362,576
78,993
7,879
109,383
135,180
382
331,817
30,759
-
30,759
353,172
383,931

The notes form part of these financial statements

Page 12

CRAFTSPACE

BALANCE SHEET 31 MARCH 2025

Unrestricted
FIXED ASSETS
Notes
funds
£
Tangible assets
11
860
CURRENT ASSETS
Stocks
12
3,432
Debtors
13
6,299
Cash at bank
232,136
241,867
CREDITORS
Amounts falling due within one year
14
(16,880)
NET CURRENT ASSETS
224,987
TOTAL ASSETS LESS CURRENT
LIABILITIES
225,847
NET ASSETS
225,847
FUNDS
Unrestricted funds
15
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
134,984
134,984
-
134,984
134,984
134,984		 2025
Total
funds
£
860
3,432
6,299
367,120
376,851
(16,880)
359,971
360,831
360,831
225,847
134,984
360,831		 2024
Total
funds
£
1,146
3,388
3,273
389,731
396,392
(13,607)
382,785
383,931
383,931
231,542
152,389
383,931

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

The notes form part of these financial statements

Page 13

continued...

CRAFTSPACE

BALANCE SHEET - continued 31 MARCH 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

.............................................

M B Rhodes - Trustee

The notes form part of these financial statements

Page 14

CRAFTSPACE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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 on a 25% reducing balance basis in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 15

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. DONATIONS, LEGACIES AND GRANTS

Donations
Grants
Grants received, included in the above, are as follows:
Arts Council England
Birmingham City University
Birmingham Cathedral
Birmingham City Council
Birmingham City Council - Commonwealth Legacy Fund
Birmingham Pride Foundation
Church Urban Fund - Windrush
Culture Central
Elmley Foundation
Energy Saving Trust
George Fentham Trust
Goldsmiths University
Heart of England Community
Hereford Bid
Herefordshire Community Foundation
High Speed (HS2) Ltd
John Feeney Trust
Oakley Trust
Radcliffe Trust
WA Cadbury
Other grants
3.
OTHER TRADING ACTIVITIES
Touring and workshop receipts
Exhibit, stocks and catalogue
Consultancy services
Sundry income		 2025
£
26,762
266,740
293,502
2025
£
255,446
-
-
8,107
-
-
-
250
-
-
-
-
2,937
-
-
-
-
-
-
-
-
266,740
2025
£
3,111
31
19,062
6,875
29,079		 2024
£
1,704
319,584		 2024
£
1,704
319,584
321,288
2024
£
215,446
2,500
1,400
1,000
7,850
2,125
24,000
-
3,000
15,872
2,200
5,000
-
1,100
1,181
17,000
4,000
1,000
4,000
2,000
8,910
319,584
2024
£
4,791
1,097
22,749
4,260
32,897

Page 16

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

4. INVESTMENT INCOME

Deposit account interest
5.
RAISING FUNDS
Raising donations and legacies
Support costs
6.
SUPPORT COSTS
Raising donations and legacies
Management
£
78,990
Governance costs
-
Support Costs
Costs of artistic programme and other
activities
98,228
24,013
201,231
Support costs, included in the above, are as follows:
Wages
Social security
Pensions
Rent, rates & utilities
Insurance
Training
Telephone
Postage and stationery
Marketing
Sundries
Other professional fees
Bank charges
Subscriptions
Catalyst Fundraising
Accountancy fees
Independent examination		 2025
£
14,980
2025
£
78,990
Governance
Finance
£
-
costs
£
-
-
6,581
2,357
-
-
-
2,357
6,581
Raising
donations
and
Governance
legacies
£
78,990
costs
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,481
-
3,100
78,990
6,581		 2024
£
8,391
2024
£
78,993
Totals
£
78,990
6,581
100,585
24,013
210,169
Support
Costs
£
42,462
5,258
4,500
18,487
3,086
-
2,025
1,965
-
9,450
10,995
126
2,231
-
-
-
100,585

Page 17

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

6. SUPPORT COSTS - continued

7.

Wages
Social security
Pensions
Rent, rates & utilities
Insurance
Training
Telephone
Postage and stationery
Marketing
Sundries
Other professional fees
Bank charges
Subscriptions
Catalyst Fundraising
Accountancy fees
Independent examination
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Costs of
artistic
programme
and other
activities
£
3,700
-
-
-
-
-
-
-
-
-
20,313
-
-
-
-
-
24,013		 2025
Total
activities
£
125,152
5,258
4,500
18,487
3,086
-
2,025
1,965
-
9,450
31,308
126
2,231
-
3,481
3,100
210,169
2025
£
286		 2024
Total
activities
£
111,433
4,997
4,320
17,773
3,091
2,273
1,329
2,291
3,692
12,121
16,804
109
2,409
3,980
1,755
3,270
191,647
2024
£
382

8. 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

During the year, one trustee (2024: 0) was reimbursed expenses of £175 (2024: £0).

Page 18

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

9.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Employees
No employees received emoluments in excess of £60,000.
10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations, legacies and grants
226,063
Other trading activities
27,425
Investment income
8,391
Total
261,879
EXPENDITURE ON
Raising funds
78,993
Charitable activities
Governance costs
7,879
Support Costs
Costs of artistic programme and other
activities
69,133
88,638
Other
382
Total
245,025
NET INCOME
16,854
Transfers between funds
(1,664)
Net movement in funds
15,190
RECONCILIATION OF FUNDS
Total funds brought forward
216,352
TOTAL FUNDS CARRIED FORWARD
231,542		 2025
£
191,507
11,585
11,250		 2025
£
191,507
11,585
11,250		 2024
£
183,863
11,193
10,800
205,856
2024
9
Total
funds
£
321,288
32,897
8,391
214,342
2025
7
Restricted
fund
£
95,225
5,472
-
100,697
-
-
40,250
46,542
-
86,792
13,905
1,664
15,569
136,820
152,389
362,576
78,993
7,879
109,383
135,180
382
331,817
30,759
-
30,759
353,172
383,931

Page 19

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

11.
TANGIBLE FIXED ASSETS
COST
At 1 April 2024 and 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
12.
STOCKS
Stock
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income

Page 20

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15.
MOVEMENT IN FUNDS
At 1.4.24
£
Unrestricted funds
General fund
95,751
Designated fund
135,791
Restricted funds
231,542
Restricted fund
152,389
TOTAL FUNDS
383,931
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Comparatives for movement in funds
At 1.4.23
£
Unrestricted funds
General fund
98,128
Designated fund
118,224
Restricted funds
216,352
Restricted fund
136,820
TOTAL FUNDS
353,172		 Net
movement
in funds
£
(2,695)
-
(2,695)
(20,405)
(23,100)
Incoming
resources
£
265,803
71,758
337,561
Net
movement
in funds
£
16,854
-
16,854
13,905
30,759		 Transfers
between
funds
£
11,938
(14,938)
(3,000)
3,000
-
Resources

expended
£
(268,498)
(92,163)
(360,661)
Transfers
between
funds
£
(19,230)
17,566
(1,664)
1,664
-		 At
31.3.25
£
104,994
120,853
225,847
134,984
360,831
Movement
in funds
£
(2,695)
(20,405)
(23,100)
At
31.3.24
£
95,752
135,790
231,542
152,389
383,931

Page 21

continued...

CRAFTSPACE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 Incoming
resources
£
261,879
100,697
362,576		 Resources
Movement
expended
in funds
£
£
(245,025)
16,854
(86,792)
13,905
(331,817)
30,759

16. RELATED PARTY DISCLOSURES

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

Page 22