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← Cinderford Artspace

2025-03-31-accounts

Charity Registration Number: 1053492 Company Registration Number: 02580953

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Cinderford Artspace Unaudited Financial Statements 31 March 2025

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CURRENT ACCOUNTANCY LTD

19a Singleton Court Business Park Wonastow Road Industrial Estate (West) ; Monmouth NP25 5JA

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Cinderford Artspace

Contents

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Year Ended 31 March 2025 :
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Page
Trustees’ annual report (incorporating the director's report) 1-4 :
a Independent examiner's report to the trustees - . 5 :
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Statement of financial activities 6.
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Statement of financial position . ae | .
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. Statement of; cash flows , . | | 8 | | ||
9-21
oe Notes to the financial statements . . . |
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Cinderford Artspace
Trustees’ Annual Report (incorporating the director's report) ,
Year Ended 31 March 2025 ,
The trustees, who are also the directors forthe purposes ofcompany law, presenttheirreportand the unaudited
financial statements ofthe charity forthe yearended 31 March 2025.
Referenceand administrative details .
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Registered charityname Cinderford Artspace =
Charity registration number 1053492
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Company registration number 2580953
Principal officeandregistered office TheNewMercury - .
' 3 Woodside Street .
7 Cinderford :
Gloucestershire: - ,
GL142NL . _
Thetrustees Karen Lander - Chair
. Keith Simmonds -Vice Chair .
os Barbara Millman
_ Christine Waygood
Mary Mahon
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oe : Sue Haverley
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Companysecretary Lynda Jones oe
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Independent examiner CurrentAccountancy Ltd ,
. 19a Singleton Court Business Park
oo WonastowRoad Industrial Estate (West)
Monmouth
NP25 5JA
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STRUCTURE, GOVERNANCE AND MANAGEMENT

_ The Management Committee meets quarterly and is responsible for ensuring that the organisation acts in accordance. with its charitable objectives and Memorandum and Articles of Association, overseeing the budget and finances and appointing core staff.

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The day to day running of the organisation is managed by the core staff team, currently comprising of 9 part time employees.

Reserves Policy: It is the policy of the Charity to work towards maintaining unrestricted reserves equivalent to three months operating costs, sufficient to cover core staff salaries and overheads. This is currently taken to be £55,000,

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Cinderford Artspace Trustees’ Annual Report (incorporating the director's report) (continued) Year0Ended 31 March 2025 .

OBJECTIVES AND ACTIVITIES

OS Charitable objectives Cinderford Artspace is an educational charity. The objects of the charity as set out in the Memorandum of Association are: 'to help and educate people through leisure and recreational activities and.in particular through the promotionpersons forof whom the arts,thesein thefacilitiesinterestsare provided’,of social welfare and with the object.of improving the conditions of: life of the )

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Significant activities

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The charity owns and manages the New Mercury building as a community arts resource centre for the Forest of Dean. It provides a programme of adult education classes both in the centre and in outreach venues during the day time and operates as a Youth Arts Centre during evenings and school holidays. It also provides an extensive programme of outreach work for all ages, for example, children and young people in schools and older people in residential care. It specialises in circus and performance, together with visual art activities including ceramics, printmaking, painting, drawing and textiles. It operates in partnership with other voluntary/arts organisations and 4 ~ community.offers resources including workshop space and equipment as well as practitioners, for rent or hire, to the

"The organisation developed a programme of popular online, ‘Distance Learning’ courses during the Coronavirus pandemic. Having reopened our venue in the year 2021-22, we have reinstated much of our face to face provision but have continued to offer some online courses where they have been popular.

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. ACHIEVEMENTS AND PERFORMANCE ~ Key achievements during the year include: - mindSCAPE long term funding: mindSCAPE, our programme for people with dementia and their carers to access art and nature was successfully supportedby The National Lottery Community Fund for a five year period until September 2029. This unprecedented length of support allows us to maintain the core of the mindSCAPE project whilst offering extension activity with voluntary and community sector partners across the Forest of Dean. We have already begun this extended programme with a series of workshops with The Orchard Trust in Lydbrook and are - looking forward to reaching more people with the project across the Forest.

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Arts on Prescription: Artspace is part of the Gloucestershire Creative Health Consortium working with the NHS . Gloucestershire Integrated Care Board and Gloucestershire Hospital Foundation Trust to co-produce an ‘Arts on Prescription’ offer. Our two arts on prescription strands are Xpres, for children with long term health conditions, and Journeys, our programme to support young people with anxiety and low level mental health issues. In 24-25 there were 10 Xpres sessions supporting approx 30 children and young people. We also continued to train former Xpres attendees as buddies to help in other areas of the Artspace programme. Across the Journeys programme we ran 13 courses, supporting 124 children and young people across the county, with additional 1to1s and a group both based at the New Mercury. : Lot 5: This programme isfunded from Adult Education Gloucestershire to enable participants to build a programme of learning to meet a need identified in our local community. This year, to support local wellbeing, confidence and . _ employability skills we have developed a new programme called The Orchard Project which enrolled 6 learners in . Spring 2025, and will run again in Summer 2025. The Orchard Project challenges learners to use creativity to solve real world challenges, helping them to develop resilience.

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Cinderford Artspace . Trustees’ Annual Report (incorporating the director's report) (continued) Year Ended 31 March 2025

Multiply: Gloucestershire County Council have asked Artspace to develop art workshops with embedded maths — content as part of the national ‘Multiply’ fund which aims to boost number confidence in over 19s who do not hold a . level 2 maths qualification (GCSE C or above). This year, the final of the funding, we adapted to the needs of Adult Education Gloucestershire and have had over 250 attendances over 9 courses and one off events, reaching and again exceeding our targets.

Extended Adult offer: in 24/25 we established our Forest of Dean Community Choir as a self-funding element of our programme, running alongside our Saturday Series and.evening pottery courses. In addition to this, we successfully applied for funding from Barnwood Trust, Gloucestershire Community Foundation and Thriving Communities to extend our adult pottery offer and provide open events during the holiday periods to ensure our learners are supported all year round. : FINANCIAL REVIEW _— . Principal funding sources: Arispace has been an Arts Council England National Portfolio Organisation (NPO) since 2011 and was one of Arts Council England's Regularly Funded Organisations prior to that. The round. of funding extended by the pandemic came to an end in March 2023, and the new round. of Arts Council England NPO funding commenced in April 2023 and has now been extended until March 2027. Artspace’s Adult Education programme is delivered through a Service Framework Agreement with Adult Education Gloucestershire; the funding agreement runs until 2026, with a new tender each year for classes, The organisation has a small Service Level Agreement with the Forest of Dean District Council. Each year the charity aims to achieve a sustainable spread of income streams. Based on our current figures for the year, earned income in 2024/25 was 62.2%, compared to 51% in 2023/24. The increase from the previous’ year followed a return to similar levels seen in.2022/23, We sawa significant increase in total earned income, grant income and donations compared to 2023/24 and 2022/23. Arts Council England NPO funding contributed 8.0% with - _ the Forest of Dean Service Level Agreement bringing Arts Council and local authority combined funding to 9.7% of income. Contributed funding from specific project grants decreased to 21.2%, but increased in actual income from £108,279 to £133,306. Donations increased from 0.5% to 6%, owing to the significant legacy donation that was left to us in this period. :

‘Overall the income of the organisation increased significantly from £360,252 in 2023/24 to £463,876 in 2024/25: however it is the final year of our Multiply programme and the legacy: donation we received also significantly . boosted income. Whilst we are planning to use this extra income to invest in The New Mercury building itself, we anticipate income: in 2025/26 to return to levels closer to the previous few years.

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Risk Management

| The staff management team; in consultation with the trustees, regularly prepares a three year business plan which considers both opportunities and risks and sets out current strategic goals, annual work plans and budgets. This is reviewed and updated annually. ,

reviewed and updated annually. , PLANS FOR FUTURE PERIODS Cinderford Artspace will maintain its core programme and continue to develop its work with people facing barriers to participation. In response to commissioners and local needs, the organisation will also continue to prioritise the development of creative programmes which achieve specific health and well-being outcomes. .

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Trustees’CinderfordAnnualArtspaceReport (incorporating the director's. report) (continued) Year Ended 31 March 2025 | .

RESPONSIBILITIES OF THE TRUSTEES

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The trustees (who are also the directors of Cinderford Artspace [a Company Limited by Guarantee] for the __ purposes of company law).are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). , °

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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INDEPENDENT EXAMINER

Current Accountancy Ltd has been appointed as independent examiner for the ensuing year.

The trustees’ annual report and the strategic report were approved on 2d Octobe... 2008. and signed on behalf of the board of trustees by: ,

. Karen Lander - Chair

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Cinderford Artspace Independent Examiner's Report to the Trustees of Cinderford Artspace Year Ended 31 March 2025

| report to the trustees on my examination of the financial statements of Cinderford Artspace (‘the charity’) for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity trustees of the company you are responsible for the preparation of the accounts in accordance with ‘the requirements of the Charities Act 2006 (‘the 2006 Act’).

"As the CIO's gross income exceeds £250,000 the independent examination must be completed by a member ofa listed body. | can confirm that | am qualified to undertake the examination as a member of the Association of Accounting Technicians, which is one of the listed bodies.

| report in respect of my examination of the ClO's accounts carried out under section 145 of the Act. In carrying out my examination | have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. oo

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' Independent examiner’s statement

| have completed my examination. | confirm that no material matters have come to my attention in connection with Lo the examination giving me cause to believe that in any material respect:

  1. Accounting records were not kept as required by section 130 of the Act; or

  2. The accounts do not accord with those records.

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| confirm that there are no matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. a

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Hannah Winman MAAT

Current Accountancy Limited

Independent Examiner . ,

19a Singleton Court Business Park -Wonastow Road Industrial Estate Monmouth NP25 5JA

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01 September 2025

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Cinderford Artspace

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Statement|of|Financial|Activities|(including|income.and|expenditure.|account)| |Year|Ended|31|March|2025|7| |oe|Be|(2028|«=.|tt~«OD| |:|-|Unrestricted|Restricted| |,|Note|Funds|Funds|=|Total Funds|Total|Funds| |.|.|£|£|fo|—|k| |Income|and endowments|—.|:| |Donations|and|grants|5.|.|92,625|20,069|112,694|62,867| |Charitable|activities|6|75,398|272,569|347,967|294,279| |Other|trading|activities|7|925|-|.|925|914| |Investment|income|8°|2,290|..|“oo:|2,290|a|2,192| |Total|income|.|.|'|171,238|292,638.|.|463,876|“360,252| ||| |Expenditure|=|:| |Expenditure|on|charitable|activities|9-10|286,428|120,684|407,112|354,994| |Other expenditure|(inc.|depreciation)|1|11,195|-|14,195|~|41,025| |Total|expenditu|re|297,623|7|120,684|418,307|366,019| |-|Net income|and|net movement|in|funds|(126,385)|171,954|45,569|(5,767)| |Reconciliation|of|funds.|oo||| |.|a|.| |Total|funds|brought forward|442,168||66,895.|§09,063|514,830| |Transfers|between|funds|238,849|(238,849).|si|-|-| |Total|funds|carried forward|554,632|||-|554,632|509,063|

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The statement of financial activities includes all gains and losses recognised in the year. _ All income and expenditure derive from continuing activities.

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The notes on pages 13 to 20 form part of these financial staternents |

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Cinderford Artspace Statement of Financial Position ; , Year Ended 31 March 2025 Facc

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|||||||||| |---|---|---|---|---|---|---|---|---| |.|Note|-|2025|2024| |E|£| |Fixed|assets| |Tangible|assets|16|364,414|370,638| |Current|assets|Co|;| |Stocks|17|1,250|-|.|1,250| |Debtors|18|12,782|19,088| |Cash|at bank and|in|hand|a|323,925|203,497| |337,957|223,835| |Creditors:|amounts|falling|due within|one year|19|145,239|72,910| |Net current assets|192,718|150,925| |Total|assets|less|current|liabilities|.|587,132|521,563| |Creditors:|amounts|falling|due|after more than one year|20|.|2,500|12,500| |Net assets|;|554,632|_|509,063| |Funds|of the|charity| |Restricted|funds|7|66,895| |Unrestricted|funds|.|.|554,632|442,168| |Total|charity funds|an|554,632|509,063|

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_ CompaniesFor the year endingAct 200631relatingMarch to2025smal!thecompanies.charity was entitled to exemption from audit under section-477 of; the

Directors' responsibilities:

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These financial statements were approved by the board of trustees and authorised for issue on 2IAG.Oand are signed on behalf of the board by: °

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CECE ~2LLS Karen Lander - Chair

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |-|Cinderford|Artspace|.|.|-| |Statement|of Cash|Flows|oe| |Year|Ended|31|March|2025| |2025|2024| |Cash|flows|from|operating|activities|oy| |Net income|/|(expenditure)|45,569|(5,767)| |.| |Adjustments|for:|:|a| |Depreciation|of|tangible fixed|assets|41,195|;|—|11,025| |Other|interest|receivable|and|similarincome|(2,290)|(2,192)| |Interest|payable|and|similar charges|3|435|743| |Changes|in:|,|.| |Trade|and|other|debtors|6,306||(19,088)| |-|Trade and|other creditors|72,329|49499...| |Cash|generated|from|operating|activities|433,543|.|34,220| |Net|cash|from|operating|activities|.|133,543|.|34,220| |"Cash|flows from|investing|activities|oO|.| |Purchase|of tangible|assets||~|(4,971)|2.|(1,813)| |Other|interest|receivable|and|similar|income|_|2,290|2,192| |Net cash from|investing|activities|°|(2,681)|379| |Cash flows from financing|activities|:| ||RepaymentsInterest payableof borrowings and|similar charges—|(10,000)(435)|(10,000){743)| |Net|cash|used|in|financing|activities|(10,435)|—|(10,743)...| |Net|increase / (decrease)|in cash and cash|equivalents|.|120,427|23,856| |’|Cash and|cash|equivalents|at|beginning|of year|.|203,497|Oo|179,641| |Net|increase/|(decrease)|in|cash|and. cash|equivalents|120,427||23,856| |Cash|and|cash|equivalents|at end|of year|"323,924|203,497|

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Cinderford Artspace Notes to the Financial Statements Year Ended 31 March 2025 ir 1 General information . ;

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The New Mercury, 3 Woodside Street, Cinderford, Gloucestershire, GL14 2NL.

2 Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (CharitiesSORP (FRS[102))] and[the] Companies Act 2006.

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3 Accounting policies

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Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

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The financial statements are prepared in sterling, which is the functional currency of the entity.

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Going concern

There are no material uncertainties about the charity's ability to- continue.

Tangible fixed assets

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Depreciation is provided at the following annual rates in order to write off each asset over it's estimated useful life:-

Freehold property - 2% straight line

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Fixtures and fittings - 15% reducing balance

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other gains and losses, unless is reverses a charge for impairment that has previously been recognised as expenditure within a statement of financial activities. A decrease in the carrying amount of an asset as a revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the, statement of financial activities.

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Cinderford Artspace Notes to the Financial Statements (continued) , Year Ended 31 March 2025 -

Stocks

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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell, Cost includespresent locationall costsandof purchase,condition. costs of conversion and other costs incurred in bringing the stock, to its _

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Financial instruments . 7 , A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. :

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. .

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Current assets and current liabilities are subsequently measured at the cash or other consideration expected to-be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

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Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

, Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for , an asset is deferred beyond normal business termsor financed at a rate of interest that is notamarket rate,inwhich case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument

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a Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging . relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of - impairmentless is recognisedat the endunderof each the appropriatereporting date.headingIf therein theis statement objective evidence of financialof impairment,activities in whichan impairmentthe ‘initial _ gain was recognised. . oO ;

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For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. ,

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in "a carrying amount of the financial asset that exceeds what the carrying amount would have been had the . __ impairment not previously been recognised.

Fund accounting

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Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. ‘ : 10

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Cinderford Artspace Notes to the Financial Statements (continued)[Ended][31][March][2025] _[Year]

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Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

The aim of the charity is to hold sufficient reserves to allow the charity to continue as a going concern for a minimum period of three months should there be no income stream. It is the policy of the Trustees therefore to hold reserves equivalent to three months management and administration costs. As such, - £55,000 of cash held is designated for this reason, controllable at the discretion of the Trustees.

’ Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

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All incoming resources areincluded[in] the statement of[ financial. activities] when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular - . categories of income:

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Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under. headings of the statement of financial activities to which it relates: .

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All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

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. Cinderford Artspace ~ Notes to the Financial Statements (continued) Year Ended 31 March 2025

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The core staff salaries have been apportioned on the basis of staff time spent, split between activities In - furtherance of the charity's objectives, support costs, management and administration, looking at each ~ member of staff on an individual basis. ,

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Judgements and key sources of estimation uncertainty

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The preparation of the financial statements requires management to make judgements estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature _[are][recognised][in][the][Statement][of][Financial][Activities][in][the][ same][period][as][the][related][expenditure.][The] deferred element of grants is included in creditors as deferred income. ae

Defined contribution plans

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Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the ~ prepayment will lead to a reduction in future payments or a cash refund.

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When contributions are not expected to be settled wholly within 12 months of the end of the reporting date Oo in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4 Limited by guarantee

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. The company Is limited by guarantee whereby each. Trustee hasa liability not exceeding £1 in the event of a winding up. a

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. Cinderford Artspace Notes to the Financial Statements (continued) Year Ended 31 March 2025

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5 Donations and grants
Unrestricted Restricted Total Funds Unrestricted Total Funds
Funds Funds 2025 Funds 2024 .
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Donations £ £ £ £ £
Donations 315625 5625 31,625 1,867 . 1,867
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Grants
Forest of Dean District Council SLA “11,000 : 11,000 11,000 11,000
Arts Council England ~ 50,000 50,000 ’ 50,000 50,000
Children in Need 3,258 3,258 - -
National LotteryCommunity Fund 16,811 16,811 ~ -
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92,625 20,069 112,694 ‘62,867 62,867
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6 Charitable activities
. i: Unrestricted Restricted Total Funds
Funds Funds 2025
Charitable activities ; £ £ £
GCC Adult Education ALDD/First Steps 80,809 80,809
Multiply funding ; 75,812 75,812 .
. Glos Young Carers . 3,096 a 3,096
Adult Education Lot 5 "3,998 3,998
NHS CCG Xpres 23,327 23,327
NHS Trailblazer /Journeys ; ,
'		 oF _ 75,000 75,000
NHS Mindscape 2,379 7,151 9,530 —
Adult education fees 10,473 10,473
Wye Valley River Festival __ . 3,377 3,377
Otherfees andEngage 62,545 62,545
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: 75,397 272,570 347,967

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Cinderford Artspace Notes to the Financial Statements (continued) Year Ended 31 March 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |6|Charitable|activities|(continued)|;| |’|Unrestricted|Restricted|Total|Funds| |Funds|Funds|2024| |Charitable|activities|£|£|£| |-|GCC Adult Education|ALDD/First Steps|86,673|86,673| |Westonbirt|Arboretum|4,000|4,000| |Multiply|Funding|31,188|31,188| |Confidence|Through|Creativity|2,900|2,900| |Arts|Council|1,964|1,964| |Glos Young|Carers|-|2,820|2,820| |Adult|Education|Lot 5|;|13,860|43,860.| |NHS|CCG|Xpres-|19,535|19,535| |__|NHSNHSNHS|CCGForestMindscapeTrailblazerTrailblazerFund|;|z|;|10,05450,00016,560|50,00016,56010,054| |Adult|education|fees|12,883|12,883| |Wye|Valley|River|Festival|1,667|1,667| |Other fees|and|Engage|:|40,175|40,175| |53,058.|«244,227|2—«294,279| |7|Other|trading|activities| |"|Unrestricted|Total|Funds|Unrestricted|Total|Funds| |oo|'|Funds|2025|Funds|2024| |£|£|£|£| |Sale|of|artwork|)|20|20|.|15,|15| |Rental|income|905|905|899|899| |)|i|925|925|914|914| |.| |8|Investment|income| |.|Unrestricted’|TotalFunds|Unrestricted|Total|Funds| |;|Funds|2025|Funds|2024| |£O|a|£-|£| |Bank|interest receivable|2,290|2,290|2,192|2,192|

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z Notes to the Financial Statements (continued) Year Ended 31 March 2025

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Cinderford Artspace

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||||||||| |---|---|---|---|---|---|---|---| |9|Expenditure on charitable|activities|by fund type|Unrestricted|Restricted|Total|Funds| |;|Funds|Funds|2025|—| |£|£|£| |Activities|228;552|120,684|349,236| |Support|costs|57,876|-|57,876| |286,428|120,684.|407,112| |.|Unrestricted|Restricted|Total|Funds| |,|Funds|-|Funds|2024| |}|£|£|£.| |Activities|.|95,925|"213,521|309,446| |;|Support|costs|45,548|-.|45,548| |||a|||141,473.|213,521|+|~+~«384,994| |10|Analysis|of support costs|;| |:|,|Analysis|of| |Support|Total|Funds|Total|Funds| |Costs|2025|2024| |;|:|£|£|£| |;|Premises|34,910|34,910|22,028| |Communications|and|IT|,|;|6,281|6,281|5,409| |,|General|office|,|13,383|13,383|15,276| |Governance|costs|_|3,302|3,302|.|2,834| |.|57,876|57,876|45,547| |11|Other expenditure|(including|depreciation)||| |.|Unrestricted|Total|Funds|Unrestricted|Total|Funds| |;|Funds|2025|Funds|2024|—| ||| |'Depreciation|11,195|-|11,195|11,025|11,025|:| |12|Net|income/(expenditure)| |Net|income/(expenditure)|is|stated|after|charging/(crediting):| |2025|2024||| |i|£|£| |Depreciation|of|tangible fixed|assets|11,195|11,025|

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Cinderford Artspace Notes to the Financial Statements (continued) Year Ended 31 March 2025 |

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||||||||| |---|---|---|---|---|---|---|---| |.|.| |13|Independent|examination|fees|:| |;|2025|2024| |Fees|payable|to the|independent examiner for:| |;|Independent|examination|of the financial|statements|.|360|360| |Other|fees|.|2,942|2,474| |:|,|3,302|2,834|

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14 Staffcosts

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|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |,|The|total|staff|costs and|employee|benefits|for the|reporting|period|are analysed|as|follows:|__|,| |cs,|||oo|—|2025|2024| |Wages and|salaries|os|-|164,662|138,411| |Social|security|costs|a|,|8,138|6,074.| |Employer|contributions|to|pension|plans|3,279|3,795| |||on|||476,079|148,280| |The|average|number|of|full-time|equivalent employees|during|the year|is analysedas|follows:|.| |2025|20240| |,||so,|No.||.|No,| |Number|of|staff|ns)|5.| || |No employee|received|employee|benefits|of more than|£60,000 during|the year|(2024|--Nil).|.|7|

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15 Trustee remuneration and expenses

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No remuneration trustees. or other benefits from employment with the charity or a related entity were received by the...

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Cinderford Artspace Notes to the Financial Statements (continued) Year Ended 31 March 2025

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16 Tangible fixed assets

Freehold Fixturesand
; Property Fittings Total
£ £ £
Cost
At 1 April 2024 521,850 26,371 548,221
., Additions - 4,971 - 4,971
At31 March 2025 521,850 31,342 553,192
Depreciation
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— At 1 April2024 155,023 22,560 177,583
Charge forthe year - 10,437 758 11,195
At 31 March 2025 165,460 23,318 188,778
Carrying amount ,
- At31 March 2025 356,390 8,024 . 364,414
At1April2024 366,827 3,811 370,638

Freehold property cost represents historic cost of acquisition plus the costs to convert. In the trustees opinion the property is likely to be valued at a lower level than its net book value given the current economic conditions.

17 Stocks .O . :
- 2025
£ £
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Raw materials and consumables 1,250 1,250°
18 Debtors ; ; ; -
2025 2024
£ £
Trade debtors _ 2,350 10,683
Prepayments and accrued income 10,432 8,405
12,782 19,088
49 Creditors: amounts falling due within oneyear
2025 2024
. £ £
Bankloansand andoverdrafts , 10,000 10,000
Trade creditors 16,254 5,077
Accruals and deferred income . a 115,303 54,240
Social security and othertaxes ; ' 2,799 2,421
Pensions payable 883 1,172
, 145,239 72,910

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Cinderford Artspace Notes to the Financial Statements (continued) - Year Ended 31 March 2025

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20 Creditors: amounts falling due aftermore than oneyear 4
; 2025 2024
Bank loans and overdrafts 2,500 - 12,500
21 Deferredincome — ,
- 2025 — 2024
At1 April 2024 49,459 oo
Amount released toincome income (49,459) -
Amount deferred in year (unfulfilled grants) 101,701 49,459
At31 March2025 : ; 101,701 ° 49,459
22 Pensions and other post retirement benefits
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Definedcontribution plans _ oo
The amount recognised in income or expenditure-as an expense in relation todefined contribution plans was
. £3,279 (2024 -£3,795). oe
23 ‘Analysis ofcharitable funds
- Unrestrictedfunds ,
. _ ‘Transfers
; : At 01 April
2024		 Income =Expenditure _
Expenditure		 Between
Funds		 At31 March
_
2025:
£ £ £ £. &
_» Unrestricted funds
Designated funds		 — 20,341
421,827		 171,238
~		 (297,623)
>		 .- 196,286
42,563		 . 90,242.
464,390
442,168 171,238 (297,623). . 238,849
, At 01 April 7 Transfers
Between		 At 31 March
' 2023 Income Expenditure Funds
£ £ £ £ £
Unrestricted funds oO 61,916 =
119,034		 (152,498) (8,108): . 20,341.
Designated funds , 420,084 - - 1,743 421,827
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;		 482,000 119,031 — (152,498) (6,365) 442,168

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Cinderford Artspace . Notes to the Financial Statements (continued) Year Ended 31 March 2025 ;

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23 Analysis of charitable funds (continued)

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Restricted funds Restricted funds Restricted funds
)
Transfers
At 01 April Between At31 March
2024 Income Expenditure Funds 2025
£ £ £ £ £
Restricted funds . 66,895 292,638. (120,684) (238,849) -
Transfers
At 01 April Between At 31 March
: 2023 Income Expenditure Funds 2024
; £ £ .
£		 £ £
Restricted funds 32,830 241,221 (213,521) 6,365 66,895
24 Analysis ofnetassets betweenfunds ,
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. Unrestricted Restricted Total Funds
Funds Funds 2025
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£ £ £
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Tangible fixed assets 364,414 - 364,414
Current assets 337,957 - 337,957
’ Creditors due in less than 1 year : (145,239) - (145,239)
Creditors due in more than 1 year (2,500) - (2,500)
Net assets 554,632 ~ 554,632
Unrestricted Restricted Total Funds
Funds Funds 2024
; , £ £ £
Tangible fixed assets 370,638 - 370,638
Current assets 156,940 66,895 223,835
Creditors due in lessthan 1 year . (72,910) - (72,910)
- Creditorsdue in morethan 1 year (12,500) - (12,500)
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Net assets
_		 442,168 66,895. 509,063

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Notes to the Financial Statements (continued) . Year Ended 31 March 2025

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Cinderford Artspace

26 Analysis of changes in net debt

, At 1 April At 31 March
- 2024 Cash Flows 2025
Cash.at bank and in hand 203,497 120,428 323,925
Debtdue in lessthan 1 year
Debtdue in.more than 1 year		 - (10,000)
'(12,500)		 -
10,000		 (10,000)
(2,500)		 .
oo 180,997 130,428 311,425.