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2023-03-31-accounts

Annual Report and Financial Statements

For the year ended 31 March 2023

Traces of a Cathode exhibi�on preview, March 2023

S1 Artspace / Projects Limited A company limited by guarantee

Charity Number: 1089266 Company Number: 03436124 (England and Wales)

Document ID: 266660a454851c6e5b16161e71b0bb50cea5e5b8686cdf50b9cb42c1fb1d0075

S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

CONTENTS

Chair’s Foreword 2
Report of the Trustees 3 - 8
Independent Examiners Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 - 17

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S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

CHAIR’S FOREWORD 1 April 2022 - 31 March 2023

2022 were finally li�ed in February, allowing us to plan for a spring reopening of the gallery. To mi�gate the risk of further restric�ons, we used the early months of 2022 for gallery and building renova�ons.

May 2022 marked a welcome return to public programming. We proudly par�cipated in the city-wide Future Now: Fes�val of Crea�vity , showcasing emerging talent from the Sheffield Ins�tute of Arts. The BA (Hons) Photography Degree show debuted at S1 for the first �me, alongside the MA Fine Art and PhD Prac�ce-based degree shows in our Sheffield Hallam Project Space.

Throughout the summer, we hosted our inaugural collabora�ve ar�st residency in partnership with Chatsworth. Alicia Paz, a painter and sculptor, was selected through an interna�onal pool of over 300 applica�ons from 55 countries. I extend my sincere gra�tude to The Duke of Devonshire Trust, Alumno Group, The Freshgate Trust Founda�on, and Centre for Print Research for their support in this new partnership.

the interna�onal group exhibi�on Traces of a Cathode , a thought-provoking explora�on of e-waste curated by ar�st and S1 studio holder Joe Cu�s.

While our temporary premises at Park Hill have presented challenges, which at times disrupted our programme and artist studios, the board is satisfied that we have continued to fulfil our charitable aims of supporting artists and presenting new work to audiences throughout this period.

Our capital project to develop permanent and sustainable premises at Park Hill did, however, encounter some setbacks. Due to the impact of the post-pandemic funding landscape and increased project costs due to rising infla�on, our plans for Park Hill were unfortunately considered no longer viable. Despite these setbacks, we remain committed to delivering the project and are actively working with Sheffield City Council to assess alternative options that align with both the Levelling Up Fund objectives and our charitable aims.

I would like to thank my fellow trustees and advisors for their ongoing dedica�on, exper�se, and support. Additionally, the board extends its ongoing appreciation to Lord Bob Kerslake, who has continued to champion our evolving capital plans.

On behalf of the S1 Artspace Board of Trustees, I am pleased to present this year’s annual report.

David Bickle Chair of S1 Artspace

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S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

AIMS & OBJECTIVES

S1 Artspace’s mission is to enable ar�sts to achieve their ambi�ons through a programme that engages a broad audience both locally and interna�onally.

was established in 1995 by a group of Sheffield-based ar�sts seeking to create a sustainable studio environment in Sheffield city centre.

Its purpose is to provide an inspiring and vibrant focal point for the produc�on, presenta�on and debate of contemporary art prac�ce; an ambi�ous arts organisa�on that ac�vely supports and nurtures crea�vity, collabora�on and professional development, and provides opportuni�es for audiences to engage directly with crea�ve prac�ces through par�cipa�on and discussion.

To achieve this S1 Artspace:

PUBLIC BENEFIT

ADVANCEMENT OF THE ARTS AND CULTURE

trustees is sa�sfied that all ac�vi�es that were able to take place in 2022-23 were in furtherance of the objects of the charity and for public benefit. The trustees had due regard to the guidance on public benefit issued by The Charity Commission in compliance with the duty set out in sec�on 4 of the Chari�es Act 2006.

ACHIEVEMENTS & PERFORMANCE

In the period ending 31 March 2023, S1 Artspace sustained its commitment to support artists' professional development through a diverse and accessible programme for our audience. Through exhibitions, residencies, film screenings, and CPD programmes, we provided a platform for over 100 artists to develop and present their work and engage with the wider community. From the city-wide Future Now: Festival of Creativity to our collaborative S1 | Chatsworth Residency and thought-provoking exhibitions like Traces of a Cathode and Departure , our programme reflected a commitment to inclusivity and innovation. Despite challenges with our temporary premises and the financial climate, we persevered in our mission to support artistic excellence and foster meaningful connections within our community.

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Programme for the year ending 31 March 2023:

Future Now: Festival of Creativity - 19 May – 12 June 2022

The public programme began in May 2002 with three exhibitions as part of the city-wide Future Now: Festival of Creativity . The festival showcased the work of Sheffield Hallam University’s (SHU) graduating art and design students, including artists, designers, photographers, filmmakers, animators, writers, and architects. The three exhibitions presented at S1 included: On Gathering - the MA/MFA Fine Art degree show; Finally - the BA (Hons) Photography degree show, and When Space Becomes the Screen – PhD Fine Art candidates’ collaborative research project.

S1 | Chatsworth Residency - 4 July – 27 August 2022

Artist Alicia Paz was awarded the S1 | Chatsworth Residency in 2022, S1’s inaugural collaborative project with Chatsworth. Alicia Paz, a painter and sculptor, was selected from an international pool of over 300 applications from 55 countries. Alicia was based at S1 throughout the summer of 2022, conducting research in Sheffield and Chatsworth to inform a series of new works. The residency was opened to a wider audience through public talks and events throughout the period. This residency was a partnership between S1 Artspace, Chatsworth House Trust, and Centre for Print Research at the University of West England, kindly supported by The Duke of Devonshire Trust, Alumno Group, The Freshgate Trust, University of Sheffield’s School of Architecture, and Sheffield Hallam University.

S1 Salon 2022 – 10 November 2022

Revital Cohen, Tuur Van Balen, Diogo da Cruz, Fallon Mayanja, Sonia Levy, Jane & Louise Wilson In November 2022, we presented the seventh S1 Salon screening, a programme of artists’ film and moving image. The programme featured the work of seven UK and international artists exploring mineral mining and electronic waste and its impact on the natural world. S1 Salon 22 was curated by artist Joe Cutts. S1 Salon was established in 2003 to further S1’s commitment to new contemporary film and video, providing a platform for artists to showcase their work alongside their peers and establishing an international dialogue between artists at all levels.

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Ryan Mosley | The Departure - 30 Nov – 17 Dec 2022

Following the S1 Salon programme, we presented a solo exhibition by Sheffield-based artist and S1 trustee, Ryan Mosley. All paintings presented were produced at S1 during periods Mosley was an S1 studio holder between 2014-17. Mosley has had a long-standing relationship with S1 Artspace spanning almost two decades, from his first artist studio following graduation from Huddersfield University in 2003 to becoming a trustee of the charity in 2016 to represent the needs of artists in the city. To support our future programme and activities, Mosley produced a new artist edition for S1, for which we are extremely grateful.

Traces of a Cathode - 18 Mar – 20 May 2023

Paulo Arraiano, Diogo da Cruz, Olga Grotova, Gweni Llwyd, Daniel de Paula & David Rickard This international group exhibition, Traces of a Cathode , addressed improper ‘methods’ of electronic recycling globally and highlighted the need for clearer and cleaner methods of recycling in our local communities, emphasising the roles individuals can play in decreasing their carbon footprint. The exhibition included a broad public programme of talks, events and workshops to engage a wider audience.

Artist Studio Provision

Throughout the period, S1 continued to provide studios to locally based artists, alongside studio provision for Sheffield Hallam’s PhD Practice-based students and project space for BA & MA/MFA Fine Art students. During the period, our temporary premises at Park Hill did present several challenges due to persistent water ingress resulting in disruption to our staff, studio holders, and public programme. S1 is in discussions with its landlord to address this issue and is hopeful it will be resolved shortly.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

S1: Artspace / Projects Ltd is a company limited by guarantee governed by its Ar�cles of Associa�on and a registered charity with the Charity Commission. The Directors of the charitable company are its Trustees for the purpose of charity law and throughout this report are collec�vely referred to as the Trustees. All Trustees are Members in general mee�ngs, which oversees the direc�on of the organisa�on including strategy and policy.

Objects

a) to advance the educa�on of the public in the apprecia�on and prac�ce of the arts; and

b) to assist ar�sts in need through the provision of studio space and educa�on in the arts.

Appointment of trustees

New trustees are appointed by a resolu�on of the Trustees or the Members in general mee�ngs. New Trustees are appointed for a fixed term of three years and may serve only two fixed terms consecu�vely unless the trustees unanimously agree that one or more further terms would be in the best interests of the Company.

Trustee induc�on and training

New trustees receive an informa�on pack containing key documents including the governing documents, minutes of recent mee�ngs, director’s report, and business plan. Trustees are encouraged to a�end appropriate external training events where these will facilitate the undertaking of their role.

Organisa�on

The Company shall have a Board of Trustees comprising not less than three persons. The trustees need to ensure that developments are sensi�ve to the aims of S1 and its charitable status. The development of long-term policy and strategy for S1, in terms of funding and other ma�ers is nego�ated between the trustees, senior staff and studio holder representa�ves.

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Related par�es

of staff and students from SHU established S1 Artspace in 1995 to provide an alterna�ve studio space in Sheffield city centre. As both organisa�ons share a commitment to support and enable ar�sts to develop new ar�s�c work within a cri�cal and engaging framework, S1 and SHU regularly collaborate to provide opportuni�es for students to support professional prac�ce by u�lising each other’s skills, experience and facili�es.

Risk management

The trustees have a responsibility to develop a risk management strategy involving:

Trustees’ responsibili�es in rela�on to the fnancial statements

state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the trustees are require to:

The Trustees are responsible for maintaining proper accoun�ng records, which disclose with reasonable accuracy at any �me the financial posi�on of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es.

FINANCIAL REVIEW

restricted income designated for the ar�s�c programme and £87,322 in unrestricted income generated from edi�ons sales, studio rents, venue hires, and unrestricted grants and dona�ons. S1 Artspace received grants from several bodies including Arts Council England, Sheffield City Council Small Business Grants, Freshgate Founda�on, Freelands Founda�on, Sheffield Town Trust, Duke of Devonshire Trust, and the JG Graves Charitable Trust, for which the organisa�on is apprecia�ve. At 31 March 2023, the charity has net assets of £15,600 (2022: £3,444)

Reserves Policy

The trustees' objec�ve is to maintain reserves equivalent to three months' turnover or £60,000, whichever amount is higher. Capital project expenditure is excluded from turnover calcula�ons. Presently, the organisa�on's reserves stand at £15,600 as unrestricted free reserves. This reduc�on in reserves is a�ributed to drawing on S1’s reserves during the pandemic and subsequent challenges in augmen�ng this figure. Acknowledging the necessity to rebuild reserves, the trustees are commi�ed to rebuilding reserves in the financial year 2023-24 to support cash flow, resilience against adverse circumstances, and ensure effec�ve management. The trustees conduct an annual review of the reserves policy to ensure its alignment with organisa�onal objec�ves.

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S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

Approved by order of the members of the board of Trustees and signed on their behalf by:

Signer ID: UQ8QXMA4RW...

Niall Shamma Trustee

Date: 30/04/2024 GMT

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COMPANY INFORMATION

DIRECTORS David Bickle (Chair) Russell Light (resigned 14 February 2024) Ryan Mosley Satwinder Samra (resigned 20 December 2023) Niall Shamma Sara Trentham-Black (resigned 7 June 2023) James O’Hara (appointed 10 September 2023) COMPANY SECRETARY Louise Hutchinson CHARITY NUMBER 1089266 COMPANY NUMBER 03436124 (England and Wales) REGISTERED OFFICE S1 Artspace 37 Gilbert South Street Sheffield S2 5PN INDEPENDENT EXAMINER Philip Allsop FCA BHP LLP 2 Rutland Park Sheffield S10 2PD BANK Co-opera�ve Bank 78 Pinstone Street Sheffield S1 2HP SOLICITORS Wake Smith No 1 Velocity 2 Tenter Street Sheffield S1 4BY

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S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

INDEPENDENT EXAMINER’S REPORT

S1: Artspace / Projects Accounts for the year ended 31 March 2023

I report to the charity trustees on my examina�on of the accounts of the company for the year ended 31 March 2023 which are set out on pages 10 to 17.

Responsibili�es and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the prepara�on of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

2006 Act and are eligible for independent examina�on, I report in respect of my examina�on of your company’s accounts as carried out under sec�on 145 of the Chari�es Act 2011 (‘the 2011 Act’). In carrying out my examina�on I have followed the Direc�ons given by the Charity Commission under sec�on 145(5)(b) of the 2011 Act.

Independent examiner's statement

with the examina�on giving me cause to believe that in any material respect:

  1. accoun�ng records were not kept in respect of the company as required by sec�on 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accoun�ng requirements of sec�on 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a ma�er considered as part of an independent examina�on; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prac�ce for accoun�ng and repor�ng by chari�es (applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Signer ID: YHZA7ZGW8B...

Philip Allsop FCA BHP LLP 2 Rutland Park Sheffield S10 2PD Date: 30/04/2024 GMT

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S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

STATEMENT OF FINANCIAL ACTIVITIES

(Incorpora�ng the income and expenditure account)

S1: Artspace / Projects for the year ended 31 March 2023 Company number: 03436124

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BALANCE SHEET

S1: Artspace / Projects as at 31 March 2023 Company number: 03436124

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The financial statements are approved by the Board and signed on its behalf by:

Signer ID: UQ8QXMA4RW... Niall Shamma

Trustee

Date: 30/04/2024 GMT

Document ID: 266660a454851c6e5b16161e71b0bb50cea5e5b8686cdf50b9cb42c1fb1d0075

S1:ARTSPACE / PROJECTS Annual Report and Accounts 2022 - 23

NOTES TO THE FINANCIAL STATEMENTS

S1: Artspace / Projects for the year ended 31 March 2023

1 Accoun�ng Policies

(a) General

S1: Artspace/ Projects is a company limited by guarantee in England. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Income

Grants dona�ons and Income from charitable trading ac�vi�es are recognised in full in the Statement of Financial Ac�vi�es in the year in which they are receivable.

(c) Expenditure

Expenditure is included in the Statement of Financial Ac�vi�es on an accruals basis, inclusive of any VAT that cannot be recovered.

(d) Tangible Fixed Assets and Depreciation

asset over its useful life.

(e) Fund Accounting

Funds held by the charity are either restricted funds or unrestricted general funds. Unrestricted funds are funds that can be used in accordance with the charitable objects at the discre�on of the trustees.

Restricted Funds are used for specific purposes as laid down by the donor. Expenditure which meets the criteria is identified to the fund together with a fair allocation of management and support costs, subject to restrictions on their expenditure imposed by the donor. Capital project restricted funds are those that relate to funding for the feasibility, design and planning work for the early stages of the "Park Hill Art Space" capital project. During this year the project progressed to RIBA stage 2. As there is a degree of uncertainty about the generation of any tangible asset, this expenditure has not been capitalised.

(f) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transac�on price. Any losses arising from impairment are recognised in expenditure.

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NOTES TO THE FINANCIAL STATEMENTS cont.

S1: Artspace / Projects for the year ended 31 March 2023

(g) Employee benefits

are en�tled are recognised at the undiscounted amount expected to be paid in exchange for that service.

(h) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Chari�es Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the defini�on of a charitable company for UK corpora�on tax purposes.

(i) Going concern

uncertain�es exist. The trustees have considered the level of funds held and the expected level of income and expenditure, prepared budgets for the period to March 2025 and are exercising extra care in controlling expenditure, managing cashflow and dealing with adverse situa�ons to ensure that the charity can con�nue as a going concern.

(j) Judgements and key sources of estimation uncertainty

The following judgements (apart from those involving es�mates) have been made in the process of applying the above accoun�ng policies that have had the most significant effect on amounts recognised in the financial statements:

The key assump�ons concerning the future and other key sources of es�ma�on uncertainty at the repor�ng date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabili�es within the next financial year.

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NOTES TO THE FINANCIAL STATEMENTS cont.

S1: Artspace / Projects for the year ended 31st March 2023

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NOTES TO THE FINANCIAL STATEMENTS cont.

S1: Artspace / Projects for the year ended 31 March 2023

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NOTES TO THE FINANCIAL STATEMENTS cont.

S1: Artspace / Projects for the year ended 31 March 2023

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NOTES TO THE FINANCIAL STATEMENTS cont.

S1: Artspace / Projects for the year ended 31 March 2023

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