Regi8tsrad number: 03467837
Charlty number: 1106051
STROUD VALLEYS ARTSPACE LIMITED
(A company Ilmlted by guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

STROUD VALLEYS ARTSPACE UMITED
(A ¢￿Y Ilmltod by guarants•)
CONTENTS
Reference and admlnlstratlve detall8 of th0 Chulty, Ils Trustees and advlsorn
ChalM￿n,• statement
Trn8to08' rnport
Independent examlnerfs report
Statement of flnanclal actlvlti•8
5-18
19-20
21
Balance 8he6t
22-23
Not08 to tho flnanclal 8tatom
24-39

STrOUD VALLEYS ARTSPACE UMITED
(A company Ilmlted by guarantw)
REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Anththv Freedman. Chainnan
David Elford, Trustee
Deborah Potts, TnJstee
Robwt Duncan, Trustse
Fem Bywater, Trustee
Kaoru Bl8d(stone, Trustee
Bamey He￿C￿XI, Tfustee
Duncan Walthaw, Trustee
Company ro918tèr•d
numbor
03467837
Charlty regl8ternd
numbar
1105051
R•gl8tered office
4 John Street
Str(MJd
Glouc8stershire
GL5 2HA
Company Socretary
Jo Leahy
Ard8llc Dlrector8
Jo Leahy
Neil Walk
Accountants
Regulatory Audlt
Vlcar8go Court
160 Ennin Street
Swindon
Wiltshlre
SN3 4NE
Page 1

STROUD VALLEYS NATSPACE UMITeD
(A company Ilmltod by guarantse)
CHAiifs REVIEW
FOR THE YEAR ENDED 31 MARCH 2025
As Chair of Truste8s. l am pleased to this rewxt on SVA'S activities over the last year. My review
attempts to give an overview of the wide spethum of that SVA has delbvered in tems of artists
development work, public programme and c*1 daveknpment proje(AS.
This work is all set in the context of an intTh am<xrt of work by 8 very small team to grow funding and eamed
income levels thrwgh ￿tal5, tickel and bar Sales Ythilst overt￿ad costs have thamaticalty increased, in
order for SVA to cC￿tinue lo deliver ils d￿ritable aims arxl otyectives.
SVA tms continued to work with the Arts CothKxJl En￿nd as a Natioanl PLYtfolio Or￿lIS8110n to deliv
actNities in line with the key ¢Xrtcome of the'L￿S Create. strategy. Tr transfer of the freehold of Ihe Brunel
Goods Shed was successfully cornpleted wth Nthork Rail and Stroud Districl Council in March 2025, the
process of SVA purchasing the freehold should be completed by summer 2025 arKI will enabl? SVA to be in a
strIx￿r position to apply for fLllKlirg to improve its acwsibility and themial perfomiartce.
SVA continued to daliver its core artist de¥ekn￿ programme by working with 1366 a￿'Sts, to provide Iow-COSt
space, resource, training and supwL We Fyovided lo*<ost studio Spa￿ to 30 artists including 15 young artists
under 30 with subsidised stLxlio space. 65 artists (snclLKliNJ 14 young artists under 25) were supported with
exhitxiion and artists residery opportunities tn the SVA John St Gallery to give time and space to prosent naw
bodtgs of new coljaborth attraclThw 4213 yisilcrs
Through our artist4ed approath to public programming, we have built communities of interesl. new audiences
and netW￿S which has expanded SVA'S reach and engagement10 1366 partiapants and attracted 29081
audience I visitors. SVA artists develowent worf( extended to provide wofessio￿l development support and
Yomotion tr over 276 Ictcal &lists trwh 0￿ Stsjdios, Site FestNal ar￿ inthvidual attvtw sessions.
Highlights in the John Street Galw tYo3ranme incbjtsj ￿ exhibition for Site Festival in 2024. supported
by Darbyshire. 'Why We Lingerf ￿rated by Jennifw Lauren Gallery whith intemationalty showcased seff4aught,
disabled. neur(yJivergent and overlcK)ked artists. Site Festival also wesented a new major audiovisual artwort( in
the Goods Shed by Mat Collishaw in pathership wilh Darbyshire and d&b audlotectrfft￿ 'Sky Burial, was an
immersive aUd￿-VIsUal installation and rneditstion on lrfe, death arKI humanty set to Gabriel Fauré'5 Requiem,
whith r&8onated with tKoth Ftsythological arKI physical concwns in the C￿teMporary world.
76 artists opened their studios tr I￿) weekernjs in the Site Festival in June arxl 200 artists exhibited and
perfonned in exhibitions. events and led workshops in Stroud over 2 weeks attra￿1r￿a 11.696 visitors. The Site
Festival programme featured eV￿ts in partnwthip ovw 20 local studio providws, venues and businesses
induding.. Lansdown Gallery. Three Storeys. Kjang Tone Records. Prema Arts. Hawkwood College. Stroud
Pottery, The Hide Art￿t Retreat, Akph C(rtemporary. GkKx*sthhire Printmaking CooperatNe and Victoria
Worf(s.
We have ¢ontinued to thvelop Jffjjng talent ttrwtyjgh offerirg creative sUpp￿t, facilities pthinglexhily'tion
opportunities for ernwgirvJ artists at critical times in their forniatNe year8 inspiring them to think big, achieve
more and be a positive impact in the communty. Aloroside ts yDung visual artist stLKlios, residencies ar
exhibitions in John Street gallery we also ccmtinued to develop ywng lalent Ilrwh Mould y￿ng Artists
Collective and suPp￿d Mutiny, a a￿1viSt group.
SVA continued to support devewnent of ￿erging performws and DJS . through recording and
perfomiing opportunities at SVA thr￿gh ts Moiam musician's collective. A SI￿lfiCant new project has been the
development of Joicey DJ C￿18￿+ve for young W(Xn￿ which has ked to OFPOrtunilies to play out at Jazz Stroud,
SVA dubnights, Deya Brewery, Womad fastival Lonth a￿1 Bristol with 18 participati￿ wg women and non-
binary DJS attracting over 21)00 ￿UnG audience members.
Specialist curated performance and music events f￿Sed on r￿W talent supported 55 emerging artists with a
hlghllght events - 'Beattaine Dew (May 2024) and 'Darkest Nlghf (DeG 2024) curated by Mermald Chunky.
P8ge 2

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmltod by guarantee)
CHAIR'S REVIEW (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Jazz strol￿ is our year rOUr￿ programme and 4Ofestival of live music arKI thbnights highligming new Jazz
talent in the UK Pwlrwship with local venues, UK agencies arKI d&b Audiolechnik. We wort(ed with 412 Jazz
Stroud musicians and drew in a tolal audience crf 6930 people and preswtsd 86 wformances, 4 clubnights in 8
venues.
The Festival lirtrup in May 2(r24 featured head11r￿￿ rKludiry keyboard maestro Joe AmioTrJones (of
Mercury Prize-winners Ezra Collective) leading his tMI Iwgely talented band; Merajry nominated saxophonist
Cassie Kinoshi appeared with tr￿r thrilling electronica jazz trio un.procedure. and StrOLK14)ased composer Daniel
Inzani brought his nthy &ple￿ ensernble for one of many porfomiances across the weekend taking place 'in the
round, _ bringirwJ the fO￿S of the music to the certre of the room. RerKAy￿ bass guitarist and singer Rulh
Gollw (Acoustic Ladylandlmelt Yourself Down) brought her bewilirwJ vttal project Skylla to the festival, and
rising Scottish Sax star Matt Camiichael p8rformed his jazz-folk4nfused original music in the b8autiful S8ttirtg of
St Lauren￿ Churth j￿ stroud 0$￿ned the festNal on tre Thursday wth a Tomorrows Warriors Takeover on
the showcasing three emerging bands BIG MASSIVE, Fr￿line and intemationally renowned drum prodigy
Romama Campbell. Afon Sistema and Simbora, led a high energy (x)lourful (xmiva Exocession thr(wh town on
the Saturday, p￿￿pIng out addicaive be* and rich and hypnotic rhythms.
A vitr8nt Jazz Stroud autumn arKI spring v￿arnMe ol IMM￿stYe, in the r￿ffKI. dab audiotechnik soundscape
producti￿ and wblic events featuring Ishmael Ensembl8 (Oct 2024), Cosmo Sheldrake {Oct 2024), Speakers
Comer Quartet (Oct 2tr24), UnIc￿n Ship Explosion (Nov 2024) arKI Soumik Datta: Bord8rlarKls (March 2025).
Over the last 12 months SVA has suppjrted an artisfs deVe￿ne￿ wogramme of experimental perfomiances.
installations, recording, producticfft arKI tralning sessions to nurture emerging artists talent and skills and
reaching nthv a￿llenGe5 in new ways. We stwted 40 artists with 13 professional partne￿ from arts arKI music
industry.
We worked with Hidden Notes Fèstival in September 21Y24 to present Tkots, and talks by Ben Murphy. Ears to
the Ground and Paul Pur￿s. SubcThtinentsl Synthesis. Anothw key partner is Stroud Film Festival, SVA
presented 'Timestalkerf with Alice Lowe (Feb 2025) and 'AII this can happen, with Siobhan Davies Dance
Company (March 2025) film s¢rnniry with dis(xtssions with the directors.Long tem) o)Ilaborative partnerships
with d&b audiotechnik and Womad w￿bled us to ofv FYodudTh time ￿ space for S(yJndscape production
sessions with TLK arKI Dan￿ Inzani {Juty 2024).
ThroLKJh our work with Gk￿ceSter atists and communilw we w(xked with Voic8s Glwcester to offer production
time and sp8C8 to artists Rider Shaffique and Vanley Burke so they could make and test out 'Beating Bad( The
Past. a new installation in the Goods str￿, whith then went to Gloucestw Cathedral (Sept 2024) and an element
of rt at SVA John St Gallery (Oct 2024). Tr world's oklest surviving music from the voices of enslaved people
on the sugar plantations of Bath(*)s inspire(l this aslonithing ethibition. The 18th cAttury 'slave song, is a
UNESCO world h￿ltage dowman( held in (JOUCW￿ir8 ￿1Ve9.
We wort(ed with the Bethlehem CLthral Festival to host Taqi Spaleen, an international gr￿1 artist in June 2024
vtho created two new works at the Bnmel Goods Shed and at ts Pic*Jredrome, Gk￿Cester. Taqi Spateen has
created rnany murals on the 44(kniiles-kng West Bank Wall is now ￿Ing exhibitÈrvJ inteffBtionally.
We have conlinued to increase ￿r on artist devel￿ent cx)mmLmty outreath work SVA has ￿111 a
partnership with the Deepbed at the Pi￿Ured￿e Theatre in GkxKestw. The project is an extension of SVA'8
commitment to support￿￿ emerging and developlng artists based In th8 City of GkxK8ster where ralatlonthips
with artlsts had already been estabtshed over the years.
As part of our objective to bè a creative hub erHbling (wisation we ￿ working wilh a vibrarrt rural community
in a￿sSIble spaces in Stroud and Gloucester to ergage aBatives in camival, perfonnance arl gallery and open
studio proj8&s, netr*O￿1n9, col18b0rati￿, eXperiM￿lation and workshopping.
Page 3

STrOUD VALLEYS ARTSPACE UMITED
(A company Ilffllt¢d by guarantee)
CHAIR'S REVIEW (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
ThrO￿h our p8rln8r8hlp with the Plcturedrome, 160 Barton Street and Voic48 Gloucester, SVA h88 worked wlth
diver88 creativ8 comrnunities lo support the delivery of exhibition8: 'Little England: R888arch & Refiections,
GIouc88ter & Barbados, (April 2024), 'Our House, (June 2024) and 'Muse3 of GIouc88tef Queer Cabaret Night
{Aprfl 2024).
SVA has continued to support creative making, networking and disoJssion sessions at the Picturedrome
including Sew JamaicA - group of Jarnaican Elders who ran weekly Camival seNing sessions through the year
and Annet 8inns presented a talk about h8r Jamaican street dance proj8Ct: The Jonkunoo and Masquerade
Project (July 2024).
Networking and discussion sessions at SVA connected artists and inspired cA)Ilaborations through regular Open
Studio Associate member meet ups and Artist Hub sessions throughout the year. 'Pecha Kucha, by new initiative
by artist Nick Grellier, a uniqua artists 'quick fire, Styla presentation event was started in October %)24 and has
created a new platfomi for many artists and has been an incredibly engaging way to hear about their diverse
practices. 'The Art of Balancing Dreams with Making the Bread and Butterf organised by Eoghan Mcdonaugh in
March 2025, attracted and created new connections for film makers 8(7oss Gloucestershire.
We feel very proud of our ambition as an organisation but also of the community of incredibly tslented artistic
communty that we WO￿ with, many of whom face increasing financial hardships in the pursuit of tlk9ir artistic
practise. SVA remains steadfast in our commitment to nurture young, diverse and emerging lalent and faithful to
our artistic objectives, in an increasingly challenging environment. We fundamentally believe in ttr￿ important role
we have to play in bringing in people together to celebrate crealivity and its positive impact on our health and
welH)eing.
We value the support of our funders. donors. trustees and look forward to 202&26 and all Ihe inspirations and
thallenges that it will surdy bring.
ArKlr8w Freedman, Chair of Trustees
Date: 17 July 2025
Page 4

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmlted by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2026
The Trustees present their annual report together with tPke finenaal statements of the Charity tr the 1 April 2024
to 31 March 2025. The Annual report serves the purposes of both a Trustees. report and a directors, report under
C4)mpany law. The Trustees confinn that the Annual report and financtal statements of the charitable company
comply with the current statulory requirements, the requrements of the tharitable companls goveming
document the provisions of the Statement of Recommended Practice {SORP) applicable to charities
preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic
of Ireland (FRS102) (effectiv8 1 January 2019).
Since the Charty qualifies as small under section 382 of the Companies Act 2006, the Strategic report required
of medium and large companies urKler ts Companies Act 2006 (Strategic Repart and Directors, Report)
Regulations 2013 has been omitted.
The objects of the charity are to advance the education of the public in practice and appreciation of the arts. The
trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefrt
when reviewing the charitvs aims and obJ"ectives and in planning future activities. In particular, the trustees
consider how planned activities will ￿ntribUte to the aims and objectives they have set.
Objectlves and activities
a. Mlss5on Ststement
Stroud Valleys Artspace's (SVA) mission is to raise the profile of artists and their role in the community by
supporting the production and presentation of their work, thereby increasing opportunities for access to and
actNe participation in the arts for a diverse range of people. SVA will enable artists to WOTk withoul undue
financial pressure within a practical supportive framework through the provision of space, resourchs, training and
support SVA aims to act as a catalyst for experimentation and collaboration by promoting a programme of
innovative projeds to the general public. As a unique ojltwal focus for the community, SVA will make a
signrficant contribution to the economic prosperty of the area.
In setting objectives and planning for ac*ivities, the Trustees have given due consideration to general guidance
published by the Charity Commission relating to public benefrt, including the guidance 'Public benefrt: running a
tharity (PB2)'.
b. Accesslble low cost ereatlve spaces
SVA purchased and refurbished its John St building (2003-2014), which provides low<ost creative Spa￿ for
production and presentation in perpetuity. We are developing the Brunel Goods Shed. in partnership wilh higl
profila arts industry partners, into a world class venue and studio environment with an ambitious. dynamic arts
programme of cultural excellence.
c. Investment In artlsts and the communlty
At the heart of SVA'S visicfft is an ambition to craate an inclusive prooramme, that engages and is rélèvant to
artists and audiences that face multiple barriers to participation, dèveloping théir catsÉrs in the industry. Our
d￿￿MiC creatlve environments provldo affordable flexibb spaces for critical engagernent, Greative chalknges,
skllls development whlch nurture tslent wlth a priorlty on supporting artists from low socltreconomlc
backgrounds. We will increase opportunities for collaboration and leadership by working in partnership with
8rti8t-led producers, curators and coll8Ctives in our programme of residenci84 axhibitions and events Iwth
national and intemational artists.our long temi vision remains steadfast, in our commitment to support artists
and communrtl8S, to inspirg and imaginatively radical moments of maglc, joy 8fKI meaningful
connection.
Page 5

STROUD V￿8 MPACE UMITED
(A company Ilmlted by guarant￿)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achlevements arKI perfommnce
Main ￿hl•V•MentS of the Charlty
SVA worked wlth 1013 artists, 1366 partscwts and attracted 29081 audienco and visitor numbers befvrnen 1st
April 2024- 318t March 2025.
b. Prnvlslon of affordable hlgh quaffty art 8pac• ￿ 8peclall8t 8UPPOrt
SVA supwt&J the development of artists:
. 30 studio based artists with low cosi studio space.
- 15 young artists under 30 with subsidtsed stLlllio spac* open studio bursaries.
- 76 local open studio and ass(Jciate member artists - professional development 8UPPOrt and promotion.
- 276 Site Festival artists - professional d8velopm?nt SLPPOrt aTrJ prcxnotion.
- 76 local op6n studio and a8s(Jciate mwnber artists - wofessional development 8UPPOrt, promotlon, speciallst 1-
2-1 coaching and advi80ry sessions to develop skills. tr￿11d connections and tslp wllh creatlve plennlng from
ideas generation ttsough to fundraising, ￿0d￿lon and we￿tatIon of WOT
c. Nurture y¢)ung tal¢nt
Providing a uniqu8, 8af8 arts environment f8cilitie8, to 194 Y￿r0 artists to collectively produce visual arts,
film, p8rf0rn8nce and music public engagement projects. Targeted at young people {14-25yrs) wlth lower level•
of cultural engagemert. Attractod a totsl cl 4213 audienc8 mernbers.
- Young artist8 rèsidenci88 S￿1 exhknition8- 14 young arti818 had 4 8010 exhibitions, 3 group show and took part
in 4 residencies in John St gallery attracting 698 visitors.
Mould Young Artists CollectNe - 7 x weekly meet UP8 for 1 &21 ￿$. olds to make, share and present wort(
together: 2 x prlnvcollage workshops, 2 x film screeniryJ evenls, 77 young attendees, 54 participating young
artists.
Mojarn - 17 x weekly wng musicians {1&21 old) rehearsal sessions: 520 att8nde88, 35 parttcipating
young musicians.
- Mutiny - Young Actmsts networf(ing group - 12 y(￿r￿d p* atterKling 6 sessions.
- Joice DJ collective W¢)rkshop8 fLY y(xJro women: 24 sessions for soung women: 36 ￿n9 ￿￿fflen
- Specialist curated perfomianee Music events - 6 events. 55 emwging artists, 918 yDung attendee8
indud1￿J Be8liaine Dew with Memiaid Chunky and Vomiton
- Supporting the developrnent of young ernergirKJ performers DJS - thr￿gh recording and perfomiing
opportunrties at SVA, Wornad festNal armd UK venl￿s 8.g. Joicey DJ Collth: 18 psrtiapatiro young female
DJS attracting over 2000 young audience rnernbws.
- Work experience - 6 students from Thomas Keble - film woject (July 2024).
Pagg 6

STROUD VALLEYS ARTSPACE UMITED
(A company Ilndtod by guarantso)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 laARCH 2025
Achievem8nt8 and wforn7ance (conlinuedl
d. John Strnot gallory programmo
65 UK and int8rnational artists presented now b(xlle8 of WQfK new collaborations and offering tlme and spaca to
develq) new work in way3 *acting 4754 visitors. 19 exhibitions, 4 residencies and 6 workshops and talk8.
Exhibitions:
- Leily Mojd8hi: 'Stinging Nettles, {Awil 2024)
- Vomiton: 'Amplexus'(May 2LY24)
- s.ink (May 2024)
- Why We Linger . Jennifer L￿ren Galtery (JLffle 2024)
- 1conLrL￿L a photographlc exhibitlon by Fran Cox, s￿lett MWJJY arKI Hwry Peg (July 2￿4)
- Ourself behind ourself- Isobel Harper and Sothle WrKJht (July 2024)
- Crab Museum - Rex Birchmore (August 2024)
- Red and the Sens8tionals, Suzy Crossley (August 2Q4)
- Crossing the line. Vera Boel8 Keirner (August 21Y24)
- Post Trauma, Ritu So(yJ. (Sept 2024)
- Be￿nd Reach, Charlott8 Aitken, SVA artist {Ocl 2024)
- Shapeshrfting , J8ine George, JamaicA St Studios, Bristol (Oct 2024)
- Beating back the Past, RK1er Shaffique and Vanley Burke, Voices GI0￿$ter (Oct 2024)
- Energy Flows Wnere Atténtion Go88, Karo Plovers Ptaszk￿ka, Brth Bristol (Nov 2024)
- SVA Textile Studio: Open for Christmas (Nov 21Y24)
- A Delicate Balan￿ of Dreams and Revdations, Ant Belrnont (Dec 2024)
- All the being and the doing: Making Mothers V￿•ble (Jan 2025)
- Jussara Nazaré: Tropical Juic8 (Feb 2025)
- Helen Hardaker. Watching not Helping (Fd) 2025)
- Sam Mukumba.. Fragile Lives: Glass, CartMM and c￿lC9 (Marth W25)
Residencies:
- Tori Atherton (April 2024)
- Georgia ￿￿[lIaMS (July 2ff24)
- Kelly O'Bnen and Rider Shafiqu8 (Jan 2￿25)
- Atul Bhunkal (F￿ 2025)
Workshops 8nd talks
Leily Mojdehi talk {AFYil 2024)
- AMPLEXUS LIFE DRAWINGI with Madeleirn Wood (May2ff24)- wo￿51￿ {May2024)
- Why Wé Linger (Junè 2024)- workshop wilh vulnerabla adults and talk (June 2024)
- 8eating ba(* the P8s( Rider Shaffiqu8 and Vanley Burke, Vobces Gl(xtsster (Oct 2024)
- Stroud Mothethood Collective Joumalling (Jan 2025)
- What we 8e8 w￿n we see Oursefves {Feb 2025)
P8g8 7

STROUD VALLEYS ARTSPACE UMITED
(A cowy Ilnthed by guararte81
TRUSTEES REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2025
Achi•v4ments and Perform￿ (continued)
e. Sfte fethal
An amual visual arts festival cl open stLMlios. exhibitions eV￿ts, Jurn 2024.
- 11,696 visitors.
- 76 x OS artists in 32 kKations (35% subsidised rate). 200 x exhibilirvJ artists,
- 16 partners
- 4 days of Open Studtos, 22 days of exhbitions & e¥￿ts
- 13,0(KJ winted festival programmes & online rfistraxrtion.
- Leading to commissions, sales, exhibitiM offws. new cxJlakntiThis and parbwrships.
Featured exhibitior￿ and events:
- Taqi Spateen .' int8mational graffiti art proi&X from Bethletr￿n Culiural FeslNal
- Sky Burial . Mat Collishaw
- Why We Linger . Jennifer Lauren Gallery
- Talk by Jennifer GI￿ert, a(rator of Why We Lingerf ar¥J Jennifer Lauren Gallery
- Workshop led by artist neurodNerse We Lingerf and Jennifer Lau￿ Galkny
- THISS 2024 The Hide Installation and SixlptLK8 StrM)wcase
- Open Studios 2024 . Taster Exhbi ition
- Sprung 2024
- Gloucestershire Printmaking Cooperative
- Meet the Chapel street Community Group
- Take 5: Three By 3 at Three Storays
- Postcards from the Garden: Gossi[wt(￿ Hall
- Lower Street Ateller
- Reuse, Reinvenl
- Borderland: Pauline Scott-Garrett
- Rooksmoor Press presants: Message
- Regeneration,: a one day Op￿ air installation
- Nine Chapters of Stillness . Rich Edwards
- Art in Destruction: Erased Histories . AIW C￿￿￿￿ary
Pag8 8

STROUD VALLEYS PRTSPACE UMrrED
IA company Ilmltsd by guarantwl
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievenmnts and PerfOn￿ (contlnuad)
f. Jazz Stroud
A year round programme 4 day festival of live music and dubnights highlighting new J&z Talani in the UK
Partnership with local venues, UK agencies and dab ALKliotethiik. We worked with 412 Jazz Str(XKI musicians
and drew in a total audience d 6930 peopl8 preS￿ted &S pthmiarths, 4 dubnights in 8 venues.
Jazz Stroud Festival 23rd - 26th May 2￿24
A challenging and diverse f88tlval of Jazz foMed music event8 at John St, Brunel Goods Shed and
St.Laurenee Church in partnerships with d&b8udio technli (. Real Worfd Records, Womad, Total Refreshment
C8ntr8, and other music agency partn8r8 f8*uring up arml comuw UK and intemational tal8nt8d artists:
- Romama Campbell
Blg Masslve
- Frontline
- un.procedure
- Matt Brown 6161
- Donna TtKmpsc
- Joe ArM0￿j0n88
- And is Phi
- Tianna
Daniel Inzanl
- Tony Njoku
- Bethany Ley
. Space Jams
- Footshooter
- Marla Kether
- Mahon
. Joicey CollectNe
- Mojam
- Sam Judd
- Marla Kether
.Jow
Sola
. The Good Sturr
- Afon Sistema
- Tryani Collethe
Yetii
- Afromerni
Ruth Gollerfs Skylla
- Inas Loubet
- Iw Moleno
- Matt Carmithael Trio
- The Magic Lantem
tlk.
Year-round programme featurinq.
- 12 x Strwd Jazz Club through the year
- The John Matyn Projecl (Sept 2024).
- Lates (AT) Hidden Notss.. Tikoda (Sept 2ff24)
- Ishmael Ensemble (Oct 2024)
- Cosmo Sheldrake (Oct 2024)
- Speakers Crn Quartet (Oct 2024)
Pap9

8TROUD VALLEYS ARTSPACE UMITED
IA company Ilmitod by guarantse)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Achlevements and perfofflian￿ (continued)
- Unicom Ship Explosion (Nov 2024)
- The Uplifter (Jan 2025)
- Unfurl (Feb 2025)
Soumik Datta: Borderfands (March 2025)
- Poor Man's Friend Sound System & Friends (M8rch 2025)
- 4 x Clubnights: Sonar Sessions (Nov 2024), Situation Sounds (Dec 2024), Medina (Feb 2025), Los Domingos
(March 2025)
- 1 x Talk.. Book Launth - Th Jazz Explosion with Andra Mamiot (Nov 2024)
g. Dynamlc te8t Space
A development programme of experimental perfomiances, instsllatlons, recording, production training
sessions to nurture emerging artists talent and skllls. Reachlng n8w audiences Sn new ways. We worked wlth 40
artists attracting a totsl audience of 742 people.
SVA worked wlth 13 prolessional partnars Irom arts and muslc industy Indudlng .' Good on Paper, Hldden
Notes, d&b audio technik, Klang Tone Records, Stroud Film Festival and Siot>han Davies Dance Company and
Womad.
Perfomiance:
Fool's Moon: Danc6 Plagu8 (Aprfl 2024)
- Penny Gaff Special with Robin Ince and Jonny Fluffypunk (Nov 2024)
- Darkest Night with Mennaid Chunky, 4 nights in Maldives and Joicey Dj Collective (Dec 2024)
Fllm events wlth dlscusslon8'.
- Timestalker with Alice Lowe (Feb 2025)
- Still out.. ambient road trip with Will cook￿ (Marth 2025)
- All this can happen with Siobhan Davies Dance Company (March 2025)
Productlon I tech sessions:
- Voices Gloucester- Rider Shaffique and Vanley Burke; (April 2024)
- John Best and David Sheppard I Sky Burial . Mat Collishaw (May 2024)
- d&B audio rehearsals for Womad -TLK and Daniel Inzani (Jull2024)
Talks:
- Ben Murphy. Ears to the Ground, Hiddon Notes Festival (Sept 2024)
- P8uI Purgas.. Subcontinent81 Synthesis, Hidden Note8 Festival {S8Pt 2024)
Page 10

STROUD VALLEYS ARTSPACE UMITED
IA company Ilmlted by guarantso
TrUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
Achlevement8 and perfomiance (contlnued)
h. A croatlv• hub
Wort(ing with a vibrant rural comrnunlty In 6 8cc8sslble spaces in Stroud arKI Gloucester to engage creatNes in
camival, performance art, gallery and open studio projects, networking, collaboration, experimentstion and
workshoping. SVA supparted 12 community p4rtn8r8 to (xganise 71 ￿eatIve session8 With 168 8tt8nd8es and
partiGipanls.
Creative Hub support at Picluredrorne, Gloucester and SVA
Exhibitions
- Littl8 England: Researth & Releclion8 Gloucester & Bart)ados - 160 on Barton (April 2024)
- Our House - 160 ¢)n Barton, Voices Gloucester with Gloucester Academy students (June 2024)
- T8qi Spateen . intemational graffrtl art project from Bethlehem Cultural Festlv81 (Jun8 2024)
P8rfomiances
- Mus88 of Gloucester Queer Nlght (April 2024)
Creatlve Making, Networking and Di8CUS8ion Se381on8
- Talk: Little England: Research & Refiections Gloucester & B8rb8dos. Voices Gloucester (Aprtl 2024)
- Sew Jamaica: 40 x Camival sewing 8888ions and 1 talk (April 20244Iarch 2025)
- 12 x OS networf<ing & discussion sesslons April 2024-M8rch 2025)
- 36 x Artist Hub sessions April 2024-March 2025)
- 1 talk'.The Jonkunoo and Ma8quet8de Project, Annet Binns (July 2024)
- 2 x Pecha Kucha Night , 10 artist8 (Oct 2024 and Jan 2025)
- Tho Last Word, Andrew W¢Jod (Nov 2024)
Seasoning.. Palestine Solidarlty Fundrals8r (Nov 2024)
- Talk and Networklng for film makers: The Art of Balancing Dreams wlth Making the Bread and Butter (March
2025)
Pagell

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmlted by guaranto•)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Financial ravi
a. Currnnt year rnvl
This financial review slts within the context of an intew ￿ of activity delivwed by a very small team, WOTking
hard to grow funding and eam8d income thrwh rentals, tKket sales, and bar revenue. Despite this effort,
ovethe8d costs have continued to rise sharply. placiro pre&9Jre on our core budgeL However, thi8 worf( has
been uucial in enabliro SVA to ¢X)ntinue deliv￿1[vj on its (tharitat￿6 awns and obJ'ectiV88.
W8 ended the year with a deficil of £4,798. to sevwal C￿trI￿rting fact¢xs:
A reduction in funding for Jazz Stroud left a svJnificant gap in the budgeL
Plans to expand hires at The Goods Shed cAwldn'l move forward due to limited capacity.
Core running costs . induding utilities. and office expenses - We￿ higher than expeded
Desplte these challenges, there were posltlve developmonts:
D8m8nd for studio space incrnased, contributing io irnFYoved eamed Income.
Donations rose, boosted by the success of the Big Give campaign.
Alth￿gh some income tsrgel8 fell short. we reduced spending - particularly on artist fees and marketlng -
which helped soften the Impact cl thg deficit
Looking ahead, we've redeswJn8d Jazz Stroud to make il more sustainabl8 and adaptable, and ￿ are actively
revlewing core costs to identrfy savings arKI Streng￿ OLf financial resilience over the long tenn.
The accounts show a net deficit of £44,281 {2024 . £147,311). Th net movement in funds before dapreciation
was a d6ficit of £4,798 (2024 . £107,359). Depreoation for pèriod, whid) princpally relates to tha 4 John
Street propety, w88 £39.483 (2024 . £39,952). The depreciation on the John Str88t propty is tharg8d 8gain8t
the restricted building fund.
Core fundhvJ for the perlod was £80,739 (2024 . £78,376). We are gratoful tr th? contlnuino 8UPWt of tho Art8
Councll England £70,216 (2024 . £70,216), arml Stroud Distrlct Councll £5,000 (2024 . £5,000).
We are continuirKJ to support our charltable acaiviti8S IhrowJh diverse incoma stréam8.
Incoming resources from the charitth acaivitles for the period was £212,116 (2024 . £221,667). Artlstic
programme sales for the period were £171.2￿ (2024 . £183,440). Inccffie from the studio arKJ room rental
totalled £40,830 (2024 . £38,114).
Nef expendlture from LmreStriCt￿ funds for the period was £8,30912024 . £101,7TO).
Financial salf-evaluation is carried ￿J1 monthly with SVA'S rfirector and financial officer and this is then discjjssed
and evaluated quarterfy at board meetings ar#J with SVA'S accountanL The final accounts are wesented and
discussed at the AGM with studio members. core team and Trustees.
b. Golng concern
Afler making appropyiate enquiries. the Trustees have a reasonable expectation that the Chaiity has adequate
resources to cnntinue in operational existerts for ts foreseeable future. For this reason, they o)ntinue to adopt
the going concem basis in prepari￿ the finarKaal statem￿t$. Furttw details regarding Ihe adoption of the going
conc8m basis can b8 found in the accoLmting ￿liCieS.
Pag8 92

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmlted by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
c. Reserve8 poIIcy
Pwpose
The trustees havo established this reserves policy to ensure the charity maintalns sufficient funds to manag8
financial risk and ensure the organisatlon can continue to deliver its tharitable objectives.
Reserves Target
The trustees have detemiined that SVA should maintain fre8 reserves between £20,IXIO {minimum) and £50,000
(maximum). The minimum reserve of £20,000 would enable an orderly wind-down of operations should thls
become necessary, covering all legal and contractual obligations. The Maximum reserve of £50,000 would
provid8 additional capacity to maintain corg operations whilst altemative fundlng Is secured and respond to
opportunftles.
In 88tting thi8 range, the trustee8 have considered thè ch8ritl8 flexible opwating modol, whth reli88 primarily on
freelance Staff and enables rapid scaling of activities. The charity Nns its building outrlght, which can gènérate
Incomo Indgpgndontly of grant fundlng, provldlng addltlonal Ilnanclal reslllence.
Current Position
Within the current res8rv8S, the truste83 have de8ignat8d specific amounts for building rna1ntenarr￿ and Staff
pension obligations. Followlng strateglc Investment in the Good Shed to develop Ihe charltys facilitigs and
incom8*enerating capacty, current reseN68 8r8 below the target level. The trustees have agreed a recovery
plan to rebuild reserves to the minimum £20,000 level within two years. During this period, all projects will
op8rat8 on a full c08t-r8covery basis to ensuré no further eroslon of r888rv88.
Manag8ment and Monltorlng
The tru8tè88 rnonitor the re8erve8 Position through quarterly managément accounts ar￿ undortake a
cAmprehensive annual review as part of the budget4etting process. The charity continues to diversrfy its income
Streams to reduce reliance on any slngle funder, Includlng Arts Councll EnglarKI, whlth currentty provldes
£70,000 annual funding.
The tru8t8e8 have delegated authority for u88 of reserv88 88 follows.. amounts up to £5,000 may be approved by
the Director in consultation with the Treasurer, 8mounts belween £5,IXKI 8nd £20,000 require Finance
Committee approval; amounts exceeding £20,000 require full Board approval.
Structurng governanc0 and manag•m•nt
Constltutlon
Stroud Valleys Artspace Limited (SVA), a reglstered charty (registration number 1105051 } and company limited
by guarantee (ragistratlon number 3467837). Is govemed by ts memorandum and artides of a&8ociation. The
charity was incorporated to advance the educatlon of the public in prnctice and appreciation of the arts.
SVA is govemed by a board of trustees, whose membership must be a mlnlmum of fN8 trustees. Thè names of
the seven trustees who held Offi￿ during sear are set out on p8g8 1 of this reporL All trustees are directors
of the company and serve without remuneration.
All tru￿8e$ are elected by the members. The trustee3 may (x)-OPt indNiduals to the board Coryoptees are
appointed based on skill and expertise, and they ar8 entitled lo hold office until the folllxving Annual General
Meeting. The board seeks to ensur8 that it Maintains a range of relevant skrlls arKI expertise.
Page 13

STROUD VALLEYS ARTSPACE UMITED
IA company Ilmlted by guarantsa)
TrUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 PIARCH 2025
StnKturei govemance and manawxnt (continued)
The board has an elected chairperson is aTr)tty mad8 up of seven members, three of whom are female
and four are male, iwo m￿nber$ are pwle ￿ cokxr. Ag8 r8nges frcrn 35- 65. Thè two artislic d[re￿OrS and
the finar￿181 officer att￿d the toard meatings.
The board is presented with FYogr&nming arKI finwxxal rwts (Bwterly aryj updated bLsiness plans amually.
SVA has a rolling cornmittee of trustees so members join regularty to give fresh perspectives.
In accordance wilh Art￿le 29 of the Artides of Assooakn. one third of the board of trustees are required to
retire at eath AGM but are eligible for reelectiorL All rw trustees are provided with an induction pack, which
includes the M￿oranduM and artides of association. busirffjss plan ￿ olher key information about SVA
including details on its activities and staff struthres WKI resp01￿1b1lrtle$. All new trustees are invited to meet with
key persomel. Tha truste8s meet on average f(X￿ limes w anrnm to review strategy, ts tulget and the
Business plan.
The board mernbers bathground and professiorRI skills are in the areas of higher education. rnuseum
education, artistic practice, arthitecknre, film production and txtstness marragemenL Recxuitment of new truslees
is regularly discussed arKI required skills identffied.
No member of the board of trustees had ary l￿nefiCial interest in any contract with SVA during the year. The
board of tnjstees hold an annual staff review and arrangements for settir¥J th8 pay and remuneration of the
charitys key management perscrtnel are revithved annualty.
Pagg 14

STROUD VALLEYS ARTSPACE UMITED
(A company lIn￿ted by guarants•)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 paARCH 2026
Struthrel governan￿ and managem•rt (continued)
b. Organl8allonal 8tructur• and do￿￿on￿nakIng pollcl
The trustees approve the ovwall strateqy of SVA trArt all owatlonal managemont 18 delegaled to the hyo Artisllc
Directors. The teArn of SVA also compri8e8 the two Artistic Dir8Ct¢YS, two project admini8trator8 and one financè
administrat￿.
SVA endeavours to ensure thal it employs intgmal ojttrol systems to minlmlse ary risks, inclLttling fraud, which
could impact on its activities. It has risk management wocgdures through whlch rlsks are regularly identified and
evaluated.
Financlal 88lf-evaluation is cwried qwtwty ￿ SVA'S director arml finan￿￿ officer and this 18 Ihen
discussed and evaluated quarterly board meetlngs and with SVA'S a¢xourrt8nL The ffftal accounts are presented
and discussed at the AGM wilh stLKlio memb8rs, core leam and truste8S.
SVA is aware of risks parti￿larlY in tems of human, fina￿481 and erniironrnental resources. SVA has managed
risk8 through a risk register for larger scale buildiro based issues witt) professional support from and risk
as￿smentS the operati¢Mal a￿1vty e.g. Health ¥KI Safety and COSH forms for each studlo member. SVA
ensures that all parties take responsibillty marwir¥J Iheir areas of work and look al ways to minimi8e rlsk
without impact on qualty of d81NWy.
SVA manages a steady and organic sustained grchvth that is resportsive to &ti8ts needs whilst balancing this th8
finarKial irnplications of deliveriry a public programme.
ContiNally growing cMtively vibrant Partr￿rshIPS is intwJral to ￿SurIng SVA'3 resilignco to b8 abl& to conlinue
to d81iver the programme of work sustainably.
SVA would Ilke to improve the ry)mmunlcatlon amongst the core team and stLKlio holders around rfsk
management. SVA will need to look at Fossible addrtional professional support or request board rnernbor
8UPPOrt. The key challenges are to ensure the board m￿bershiP is continually responsNe and reFY88entative of
SVA'S vision and evolviro programmè whilst ensuring that there is a good level of expertence and skills to enable
effective dKision making. SVA aims to increase the number of young people and artists on the board. SVA
VI￿Uld like to find time to ￿rry out morg effethe Inductson, development and training of board members to
anable the Trustees meeting8 and work to be more wodudive.
Capital development plan8
Brunel Good8 Shed
SVA has been developing plans ft>r tho Bnnel Goc#Js s￿ wlth UWE arthftectur8 Ilve wojects, Stroud Lev8lllng
Up task force, NelwcKk Rail, GWR arKI Arts C(wrKil England.
Str(JJd V8I1eys Artspace (SVA) ha8, over Ihe ya8rs, démonstrated its abilty to maet the furKling prioritie8 of the
Arts Council's arKI local authorities ￿lIural and ecOr￿niC strategies. It has done thls thr¢)ugh an Impressiv8 track
recud of artlstic and educational work with key partws and from Its two premlses In Stroud.. John Street and
the Brunel Goods Shed (Grade 2" Listed and uniquè). The Goods Shed, whK* is under threat, makes a
signrficant contribution towards meeting Arls Council's Outcomes and Investrnent Principles as an
exiraordinary space for developing new authences 8rKI supwting artists to make new work
The project has been fully incorporated in str￿d Station Master plan woducad by the Integrated Transport
partnership for Str(yJd Town Council with 11XPA ￿sItive supwt from tha NDP ojmmittee. The proj8Ct's ftrture
vision is embedded strategically in the districts LUF Pl￿ to comect canal, raiKvay and tc•Nn centre. which
they consider to be Critical to the future prospwity of stro￿j.
Our Partne￿hIp with D&B ￿dIotechni￿ Real World Recorts arvj Womad has grown significantly wilh installation
Page 15

STrOUD VALLEYS ARTSPACE UMITED
(A company Ilmitod by guarantse)
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 MARCH 2025
Capital development plans (coniinued)
of a state of the art 3W surround sourKI sfftm. Sinc8 Covid 19 there has been irKxeased demand for
re￿rdIng sessions from wortd class musicians. We expect this area of ￿r work to rapidly develop over the next
&10ws.
SVA is wothing with NetwoFk Rail wKI Stroud District C￿JnO1 to purchase the premises, mak8 them accessible
for the first time and improve the buildirvJ's thermal efficiency. This will ensure that that SVA can dgliver ts vision
w811 into the fijture and inclusNdy.
SVA are seeking to:
. Acquire the freehold of ts t￿Ikling with ass<thW l￿d (base expires in 2026) and retaln slte-specific workl
leading audio equipmert
. Create a new welcomiro entran￿ with ram￿ arKI doors to provide eq￿lIty of access (access to the building is
nol step free at present)
. thstruct fully accessible toilet provisi(Yi
. Enclose th8 5 major shuttered ow)ings to the buibjing to improve It￿mal insulation.
. Relocate and improve accessibilty to the bar
. Install an additi4Th1 fire exit
Our lorwJ-temi vision is designed to devebp the Goods Str￿d arttl ts adjoining knd as a nationalty recognised
centre for the arts with an indusive programme engaging with dNerse audiences and artists that fa￿ multiple
barriers to participation. In addition to the GO￿ts Shed enhancements a Mast￿pIan will transfo￿ a browrfield
car park area to creat8 imaginative shipping container studios togelFÉr with a c4Jmmunity garden. This is a key
element in the cour￿11 led regerwakn plaK8 of the rn ar0￿￿1 Strcth station and will be lost rf we fail to
acquire the Goods Shed.
SVA an arts ￿ educational tharity. is reliant m wblic thJiryJ &KI palnerships to enable this project lo
happen and to ensure str￿1 Tthvn centre corrtinues to ueativety and economicalty thrtve.
Fulure artistic plans 2025 - 2026
As a result of (yjr r8view prccess after Ihe parthic, the cost-of4ivirvJ crisis ar￿ steep rise in overheads we are
reviewing some aspects of our programme which are refwtt on additiorol funding. We are committed to continue
to fctus on artist development and community outreath ￿ will reduce some of the year-round events that are
not so dearly aligned to our viS￿n and valLM. We will tsvelop partnarship artistic projects that brirKJ in
production and technical resources to Wtable to continue to deliver ￿Jr artistic ambitims.
The programme wll be carefully balanced to manage Iwman and fin8rtBI resouw to ￿SUre we can continue
to increase our eamt incorne thrcvJh rentals, tid(et arrfl bar incoma whilst ensuring we can work in radical and
imaginat5ve ways wth new people. This will mean bringing n specialist f￿draISing support to bring in additional
funding to enabb us to ambitiously support develoKxnent areas such as the Brunel Goods Shed, young
creatives, Jazz Str￿Jd arKI the comrn￿ty ￿rtreath work in GI￿ter.
To ensure SVA'S viabilty, Icwenn sustainabilty and relevance to ow ￿MmUnitIeS we r￿ad greater emphasis
on nurturirYJ ihe next generati<K) of cr&i1ives we114)eiro and rne￿al health. Wè will gTh dNerse, equitabl&
and inclusiva pathways to connect with communities af interesL We will WO￿ in collaboration with organisations
and fvnders that share these values, and we want to use this opp(xbJnty to t￿lId on complementary skillsets,
experiences and areas of eX￿lIen￿.
To ensure the programme maintains its fO￿S on artists aKI communty we will work collectively and in
partnership to grow a rith cullural ecW wth artist led collectives, voluntary run comrnunity organisations. arts
industy and educational parthers e.g. Tomorrows WarriLYS, Darbyshire. Good on Paper, Hawkwood College,
Gloucester Culture Trust d&b AudiotethniK Real Wwkl Records, Womad, Three Storeys, Victoria Works,
Page 16

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmltod by guarantse
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Future athtlc ￿an8 2025 . 2026 (coniinuedl
Prema Arts Centre, Pictiredrome, Voices GIr￿￿est￿. Bricks Bristol, Jamaica Street Studios, Stroud Coll
UWE arKI Gloucastershire Unrversity.
SVA is ojrrently developing new strarKts of &#ivity aroLnd artists development. and community engagement for
our pubjic programme d exhibilxY)s, residencies. tkn, film screenings, perfornw￿ arKI digital content
projects.
For 2025126 SVA will provid8 affordable highquality spaces for WCYK production and presentation alongside
speaalist programme of support for 30 studio artists and a wider network of over 2180 artists ar￿ creatives. SVA
will deliver an artistic and commun.ty outreach programme of exciting and iMovatNe work from both its
premises, in partw venues and online to 33,603 partscipants arKI a￿￿lenCeS and a further 131,142 digital
audience interactions.
Page 17

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmllod by guarantso)
TrUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Statement of Tru8tees' rn8pon8lblllll•8
The Trustees (who are al80 the directors of the Charity for the purposes of company law) are responsible for
preparing the Trustees, report and the financial statemgnts in accordance with applicable law and United
Kingdorn Accounting Standards (United ￿"ngdoM Genèralty Accepted Accounting Practlce).
Company law requires the Trustees to prepare financial statements for each financial . Under company18w, the
Trustees must not approve the financial statements unless they are satisfied that they gNe a true and falr vlew of
the state of affairs of the Charty and of its incoming resources and application of resources, including its income
and expenditure. for that period. In preparing thes8 financial statements, the Trustees are required to:
Select 3utsbl8 accounting pollcles and then apply them consistently,
observe the methods and principles of the Charities SORP (FRS 102),.
makè judgments and accA)unling estimat05 that are reasonable and prudent;
state whelher applicable UK Accounting Stsndards (FRS 102) have been followed, subject to 8ny material
departures disdosed and explained in the financial statements;
prepare the financlal statements on the going concem basis unless it is Inappropriate to pr98ume that the
Charity will continue in business.
Th8 Trustees ar8 responsible for keeping adequate acwjnting records that are 8ufficient to show and explaln
the Charitys transactions 8fKI disclose wllh reasonable accuracy at any time the financial position of the Charity
and enable them to onsur8 that the financial statements comply wlth the Companies Act 20C6. They ara also
rèsponsible for safegu8rding the 888et8 of the Charity and hence for taking reasonable steps for the prevention
8nd detectlon of fraud and other irregulariti88.
Approved by order of the members of the board of Truste88 and signed on thelr behalf by:
idrew Freedman
Chair of Trustees
Date,'17 July 2025
Pago 18

STROUD VALLEYS ARTSPACE UMITED
(A company IlThthd by guarantw)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Independent Exaffllnefs Report to thé TnMto08 of Stroud Valleys Atspace Umlted
Charlty)
I report to the charity Trustees on my examinatkffl ol ts accounts d the Ch￿lty for the year endad 31 March
2025.
Re8pon81blllUes and Ba818 of Roport
As the Trustees of the c￿￿17ty (and it8 directors for ts pjrposes of cornpany law) you are responsible for tha
preparation of ts accounts in accrydance with the requirements of th8 Companies Act 2006 (Ihe 20C6 ACV).
Havlng satisfi8d myseK that the acc(xJnts of ts Chwity are rnt r•wired to be audit8d under Part 16 of the 2C
Act and are eligtble for indewdenl examinalion, I report in raspect of my a￿9M1nation of the Charitys accounts
Carried out under seclion 145 of tho Charities Act 2011 Cthe 2011 Arf). In carrying out my 8X8rnination I have
folltrwed th8 Dir8ctK)ns gNen by the Charty C￿mISsion under Secti￿ 1445)(b) of thè 2011 ACL
Inde￿ndOnt Examlnerfs Statom
Since the Charitys gross income exceeded £2S),C(MJ your examiner must be a rn￿nber of a boty listed in
section 145 of the 2011 Act. I confimi that l am qualified to undertake the 8xamination b8cau8e l am a memb
of Association of Chartered Certified Accountants, which 18 one of the listed tx)dies.
I have cornpl8ted my 8xamlnation. l oMfirm that no matter8 have come to my attentlon in conn8Ctkm wlth the
examlnatlon glving m8 cause to believe:
8ccounting records were not k8PI in of the Clwity as r8quinJ by section 386 of th8 20CE kt; or
the accounts do not accord with those records; (Y
Ihe accounts do not comply with the accounting requirements of seclion 396 of the 2CMA Act othw than
any requirernent that the acrounts gwe a Yrue fairf view is not a matter 0￿81dered a¥ part of
an independent examination; or
the accounts have not been wepared in accordm with meth¢xl8 and principles of Ihe Statement of
Recommended Practice for accounting reFQrting by chariiies [applica￿e to chartti83 prep8ring their
accounts in accordance with the Finanod Reporting Standard applicable in th8 UK and Republic of
Ireland {FRS 102)].
Page 19

STROUD VALLEYS ARTSPACE UMITED
(A company by guarantse)
INDEPENDENT EXAAIINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
I have no concAms arKI h￿6 come auoss ottw matters in u#Y￿￿10n wrfh th8 examination io which
attention should be drawn in this rewt in order to enable a prow uThlerstandiry of the accounts to be reached.
This report is made solely to the Charitrfs Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My wort( has been undertaken so that I might stste lo the Charitys
Trustees those matters l am required to stat8 to them in an IThIepend￿t examinefs report and for no oth
purpose. To the fullest extent permitted by law, I do not accept or assume responsibilty to anS￿le olher than the
Charity arKI the Charitys Trustees as a body. ts my wcrk or for this reporL
Slgne
ROb￿t Stokes
FCCA ACA
For and cm behalf of
RegulatoryAudit
Vicarage Court, 160 Ermin Street, SwirKk)n SN3 4NE
Pag8 20

STROUD VALLEYS ARTSPACE UMITED
IA company Ilmlted by guarants•)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2026
Restricted Unr65tricted
funds
funds
2025
2025
Total
funds
2025
Total
fvnds
2024
Note
Jncoffle from:
Donations, legacies 8nd grdnls
Charitable activities
Investments
80,739
214116
1.078
80,739
212.116
1,078
78.376
221.667
467
T¢￿1 i(Kome
293,933
293.933
300,510
Expendlture on:
Raising funds
Charitable adiviiies
14223
281018
14223
323.990
15,014
432,917
36.972
Total expendlture
35.972
302.241
338.213
447,931
Net movement in funds
134972)
(8.308)
(44,280)
(147,421)
Reconciliation of funds:
Total funds broLNJht forward
Net movement in funds
1,242.132
(36.972)
105.566
(8.308)
1,347,698
144.280)
1,495,119
(147,421)
Totsl funds carrled forward
1.206,160
97,258
1,303.418
1,347,698
The Statement of Financial Activities indudes all gains and losses recx)gnised in the year.
The notes on pages 24 to 39 forni part of these financial statements.
Page 21

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmited by guarantae)
REGISIERED NUMBER: 03467837
BALANCE SHEET
AS AT 31 MARCH 2026
2024
Note
Flxed a880ts
Tanglbl8 a888t8
12
1,196.480
1,233,919
1,196,480
1,233,919
Current a88gt8
Stod(s
Debtor8
Cash at bank and In hand
13
14
6,921
8.373
118,950
5,802
5,179
128,382
131244
139,363
Curr•nt Ilabllltles
Cre(Sitors: 8mount8 lalling due within one
year
15
(25,306)
(25,584)
Net current asset8
108.938
113,779
Total a88ets le88 current Ilabllftlos
1,303,418
1,347,698
Net a88ets excludlng pen8lon a8•et
1.303.418
1,347,698
Total net a880ts
1.303,418
1,347,698
Charlty funds
Restricted funds
Unrestricted funds
16
16
1,206.160
97.268
1,242, 132
105,566
Total fund8
1,303,418
1,347.698
The Charity was entitled to exemption from a￿lit under sedion 477 of the Comp3ni8s Act 2011%.
The members have not required th8 company to obtain an audit for the year in question n accordance with
section 476 of Companies Act 2006.
The Trustee8 acknowledge their responsibilities for cOm￿y1n9 wilh the requirements of the Act with respect to
accounting records arKI preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
Page 22

STROUD VALLEYS ARTSPACE UMITED
IA company Ilmlted by guarantse)
REGISTERED NUMBER: 03467837
BALANCE SHEETICONTINUED)
AS AT 31 MARCH 2025
The financial statements were approved arKI aUtt￿Ised for issue by the Trustees on 17 July 2025 arKI signed on
their behalf by.
Andrew Freedman
(Chair)
The notes on pages 24 to 39 form part of these financial statements.
Page 23

STrOUO VALLEYS ARTSPACE UMITED
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
General Infommllon
stroud Valley Artspace Limited is a prNatg compary, limited by guarantee registered in England & Wales.
The company registered number is 03467837 and the address of the registered office is below.
4 John Street
Stroud
Gloucestershire
GL5 2HA
Accountlng pollcles
2.1 Basis of preparatlon of financial statements
The financial statements have been prq)ared in accordance with Ihe Charities SORP (FRS 102) -
Accounting and Reporting by Charities." Statement of Recommended Practice applÉcable to charitles
preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Stroud Vallays Artspace Limited meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless othe￿188 stated in
the relevant accounting policy.
2.2 Golng concern
These ac<x)unts have been prepared on a going concem basis. The Trustees have reviewed the
charities ajrrent position and although unrestricted r&serves levels are below expected, they still
believe that the charity have the ability to continue trading tr the foreseeable future.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that tha
income will ba received and the amount of income receivable can be measured reliably.
Grants are induded in the Statement of financial activities on a receivable basis. The balan￿ of
income received for specific purposes but not expended during the period is shown in the r*vant
funds on the Balance sheet. Imiere income is received in advance of entitlement of re￿[pt, rts
recognition is deferred and induded in creditors as deferred income. Where entitlement occurs
before income is recebved, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is re￿1Vable.
Rental or event incorne received in advance is deferred urrtil ￿lteria for income recognition are met.
Page 24

STROUD VALLEYS ARTSPACE UMITED
(A company limlted by guarantoe)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng polici88 (contlnued)
2.4 Expendlture
Expenditure is recognised once theAe is 8 legal or constructive obligats'on to transfer economic benef
to a third paty. it is probable that a transfer of economic beneftts will b8 required in settlement and
the amount of the obligation can be measured reliably. Expenditure is cla88ifi8d by activty. The costs
of eath activity arg made up of the total of dirgct costs and shared costs, Including support cosls
Involved In undertaklng each actlvty. Direct costs attributablo to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one adivity and Support costs which ar8
not attributable to a slngle a£*ivity are apportioned between those activities on a b38is consistent with
the usa of resources, Central staff costs are allocated on tho ba818 of tlme Spent, and depreciatlon
dwg8s allocated on the portion of tho asset's use.
Exp8ndrtur8 on raising funds includes all expenditure incurred by the Charity to raise funds for it8
charitable purp0888 and indud88 Costs of all fvndraising 8Ctivitie8 events and nOn¢haritab￿ trading.
Expenditurè on charitable activities is Incurred on directly undertaking th8 activities which furthor the
Ch8ritys obl8CtIv88, as well a8 any 88sociated support cost8.
All expanditure 18 inclusiva of Irrecover8bl8 VAT.
2.5 Interest recelvable
Interest on funds held cn deposit is induded when receiv8ble and the amount can be m88sured
rellably by the Charty, thls Is nonnally upon notification of the interest paid or payable by the
institution with whom the fund8 are deposlted.
2.6 Tanglble flxed a880ts and depreelatlon
Tangible fLxed asse18 Costing £11XI or more are capitalisgd and r8cognised when future ec￿r￿mIC
b8nafrts ar8 probabl8 and the cost or value of the asset can be measured rellably.
Tangible frxed assets are initially recognised at cost. After recognition, under the cost model, tangible
fwed assets are measured at cost less accumulated depreciation and any accumulated impainnent
losses. All costs Incurred to brlng 8 tangible r￿ed a88et into its intgndgd W0￿1n9 condition should be
Included In th8 measurement of cost.
Depreciation is tharged so as to allocate the cost of tangible f￿ed assets less their residual value
over their estimated useful lives, .
Depreclation is provided on the follthving basis:
Freehold property
Fixtures and fittings
Other f￿ed assets
2% Stralght line
25% Straight line
Nil Depreoatlon
2.7 Stocks
StcGks arn valued at the lower of cost and net realisablo value after making due allowance for
obsolot8 and slow-movlng stocks. Cost Includos all dlract costs and an approprlate proportlon of fixed
and vari8ble overhead8. Donatad iiém8 of Stock are recognised at fair value ￿1¢h is the amount the
Charity would have been willing to pay for the items on th8 open market.
Page 25

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmltod by guarants8)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Accountlng pollcles (contlnuod)
2.8 Dobtors
Tr8de and other debtors are recognised at th8 settlement amount after any Irade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Ca8h at bank and In hand
Cash at bank and in hand includes ca8h 8nd 8Port-tarrn htghly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of th8 deposit or Similar accounL
110 Llabllltlo8 and provl8lon8
Liabilities aro recognised when thera is an obligation at the Balance sheet date a8 a result of a past
event, it is probable that a transfer of economic benefrt will b8 required In settlement, and Ihe amount
of the settlement can bg ostimated roliably.
Liabilities are recognised at tha amount that the Chanty anticipates it wlll pay to settle the debt or the
8mount il has received as advancéd payments for tha goods or servic8s it must provide.
Provlsions are measured at the best 8stim8to of the amounts required to 80tt18 the obligation. Where
the effect of the tlme value of money is material, th& provision is b8S8d on the present valu8 of those
amounts, discounted at th8 pre-tax discount rate that r8fi8cts thè risks specific to the liability. The
unwinding of the discount is recognised in the Statement of financial acliviti8s as 8 fmanc8 cost.
111 Penslons
The Charity operate8 a defined Contribution pen8ion 8cheme and the pen8ion charge repr88ent8 the
amounts payable by the Charity to the fund in respect of the year.
2.12 Fund accountlng
Gèneral funds are unrestricted funds which arè available for use at th8 discretion of the Truste88 in
furtherance of the general objectives of th8 Charty and whith have not been designated for other
purposes.
Designated fund8 comprise unrestricted funds that have been set aside by Ihe Trustees for particular
wrposes. The aim and use of each designated fund Is set out in the notes to the financial
statements.
Restricted funds are funds which are to bo used in accordance with 4)ecific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. Th8 costs of raising and
administering such funds are charged against the specific fund. Tha aim and us6 of each restricted
fund is set out in the not05 to the finanoal statements.
Investment income, gains and losses are allocated to the approwi8t8 fvnd.
Page 26

STROUD VALLEYS ARTSPACE UMITED
(A company Ilnthd by guarathe)
NOTES TO THE HNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income from donallon8. legacles and grani8
Unrestrictad
funds
2025
Total
lund8
2026
Donatlons
Other Donatio
Grants
6,523
Arts Council EnglarKJ
StrJJd District coul￿11
Str￿d T¢xYn Council
70,216
5,000
70.216
5,000
Subtotal detall•d dlsclosurn
80,739
80.739
80,739
80.739
Tot81
lunds
2024
funds
2024
Donatlons
Other Donatlons
Grants
1, 160
1, 160
Arts Council England
StrOLKI District Council
stroud Town CoLncil
70.216
70,216
Subt¢)tal dotallod dl•clo8Urn
78.376
78,376
78, 376
78,376
The Charity receNes government grarts, defined as funding from the Arts Council England arKI Stroud
Dlstrict Council to furKI charitable a&ivities. The total valu8 of such grants in the period to 31 March 2025
was £75,216, (2￿24. £T7,216). There were rn unfijlfilled C¢)nditions or cOnting￿CleS attathing to these
grants.
Pag827

STROUD VALLEYS ARTSPACE LIMITED
IA company Ilmlted by guaran￿1
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Income from charftable actlvltles
Unre6trfcted
funds
2025
Total
funds
2025
Artistlc Programme
Memberships
Rental Income
171,286
171,286
40,830
212,116
212.116
Restrfcted Unrnstricted
fvnds
2024
Total
funds
2024
2024
Artistic Programmo
Memberships
Rental Income
3,278
180, 162
113
38,114
183,440
113
38,114
3,278
218,389
221,667
Inv••tm•nt Incomo
Unrestrlcted
fund8
2026
Total
fund8
2025
Investrnent income
1,078
1,078
Unrestricted
funds
2024
Total
fvnds
2024
Investment Income
467
487
Page 28

STROUD VALLEYS ARTSPACE UMITED
(A coThyany Ilmltsd by guarantso)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Expon(Hturo on ralslng fvndB
Fundralslng tradlng oxpen808
Unro8tricted
funds
2025
Total
funds
2025
FundralsirKJ tradirvJ expenses - wages ar¥J salar
14.223
14.223
Fundralslng tradlng expen80• Iconllnu•d)
Unrn8trfGt8d
lunds
2024
Total
fvnds
2024
Fundralslng expenses - ww arKI 8alari03
15,014
15,014
Summary by fvnd typo
Rmtrlctad Unrestrlcted
funds
funds
2025
Total
2025
Charitth actNrties
35,972
288,018
323,990
Restricted Un￿StriCted
fvnds
funds
2024
2024
Total
2024
Charltable ac*lviti
48.819
384,￿8
432,917
Page 29

STROUD VALLEYS ARTSPACE UMITED
(A ¢￿Y lIn￿knd by guarantee)
NOTES TO THE FINANCIAL STATElaENTS
FOR THE YEAR ENDED 31 MARCH 2025
Anatysls of expen(Uture by ac
undertaken Support
dlr•ctly
costs
2025
Total
funds
2025
2025
Charitable a￿1vitieS
235.275
88,715
323,990
undertaken
di
Support
Total
fvnds
2024
2024
2024
Charitable activits
328.990
103,927
432,917
Anatysls of dlre¢t costs
Charltable
athllles
2025
Totsl
funds
2025
Stsff costs
Consumables
Artist fees
Materials
Advertising
DepreLialion
83,751
83,751
37,084
63.698
022
748
35,972
63,698
8,748
35,972
235,275
235.275
Page 30

STROUD VALLEYS ARTSPACE UMITED
IA company Ilnthd by guaranto•)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Anatysls of expen(fjture ty aclfvlrfts (conllnued)
Analysls of thre￿ costs (conllnued)
Chantable
Total
fvnds
2024
2024
Staff costs
Consumables
Project partner costs
Artist fe8S
Materials and equiFyn&
AdVertiS￿g
Depre(aation
118,531
44, 153
17,421
98,009
3, 135
118,531
44,153
17,421
98,009
3, 135
12,200
35,541
35,541
Total 2024
328.990
328.990
Analysis of support costs
Total
funds
2024
funds
2025
Staff costs
Subscriptions
Travel and Subsistence
Rent arKI rates
Repairs Maintenar￿a
Utilities
Telethne arKI irtemet
IT and compjter expenses
Insurance
Audil and accourrtancy
Professiorkgl fees
Depre(xation
Printiig, postage and ststior
Miscellaneous costs
27,330
1,866
3,434
2. 148
22, 166
17,723
5,718
4,576
4,978
4,283
828
4,411
1,263
3.203
2.074
19.793
5,071
6.418
5,907
3,309
3.511
1,163
983
88,715
103,927
Page 31

STROUD VALLEYS ARTSPACE UMITED
(A company Ilmlted by guarantw)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 PIARCH 2025
Independent oxamlnofs romunerallon
2025
2024
Fees payable to the Charitjls indepenm eX￿Inerf0r indep￿)
examination of the Charitys annual accounts
3.IX)O
10. Slaff costs
2025
2024
Wages arKI salaries
111,967
1.869
113,350
2, 104
45,421
118,041
160,875
The average number of p￿sOr￿ emplo￿d ty ts Charity the y8ar was as folltrws:
2025
No.
2024
No.
Employees
10
10
No employee received reM￿￿rat1￿ to more £60,000 in either
The key management personnel of the charitable company comprise the trustees and the two Artistic
Directors. The totsl empbyee benefits of tho key management P8Tr(xmel were £60.054 (2024 . £60,054).
11.
During the year, rK) Trustees received ary remuneration or otsr ber￿ffts (2024. £NIL).
During the year erKled 31 Marth 2ff25, no T￿￿te8 experw have been ir￿￿rred (2024. £NIL).
Page 32

STrOUD VALLEYS ARTSPACE UMITED
(A company Ilnthd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11 Tanglble fixed assets
Freehold FI￿re5 and Other flxed
fftlings
Total
Cost or valuatlon
At 1 April 2￿4
Additions
1,798.593
23J73
1043
10.426
1,832,391
At 31 March 2025
1.79Q593
24418
10.425 1.834434
Depreclatlon
Al 1 April 2024
Charge for the
18,817
3,511
598A72
39.482
35.971
At 31 March 2(r25
615,626
28
637.964
Net book value
At 31 Marth 2tr25
1.181967
10.426
1.186.480
At 31 ma￿ 2024
1,218,938
4,556
10,425
1,233,919
13.
2025
2024
Consumables
6.921
5.802
Debtorn
2025
2024
Due wlthln one year
Trade debtors
PrepayTnents and a￿Ued irmrne
2.576
3.797
3.826
6,373
5,179
Page 33

STROUD VALLEYS ARTSPACE UMITED
IA company Ilmlted by guarante8)
NOTES TO THE HNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
15. Credltor8: Amounts falllng due wlthln onè year
2025
2024
Trade creditors
Other taxation and 3(JCi81 security
Other crgdltors
Accruals and deferred income
1,593
2.757
3,647
17,409
2,603
1,339
3,594
18,048
25.306
25,584
2025
2024
Deferred income 8t 1 April 2024
Resources deferred during the year
Amounts reloased from previous periods
16.149
14.409
(15.149)
t2,198
15,149
(12,198)
14,409
15,149
Deferred income relates to festivals in the following financial yBar.
Pag8 34

STROUD VALLEYS ARTSPACE UMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16. Statement of funds
Statemont of funds - current year
Balance at
31 March
2025
Balance at 1
Aprll 2024
Income ExpendI￿rn
Unrestrlctad funds
D•8lgnated fund8
Pr8mls88 fund
Penslon fund
50.000
41.525
41,525
91,626
91,625
General funds
General Fund8
14041
293,933
(302,241)
5,733
Total Unreslrfctsd funds
105,566
293,933
(302,241)
97,268
Re8trlcted fvnds
Capital buikllng fund
1341132
(36,972) 1.206.160
Total of funds
1,347,698
293,933
1338.213) 1,303,418
Page 35

STROUD V￿LEYs ARTSPACE UMrrED
IA cw>any Ilmited by guaranlwl
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16. Statemwrt of fund8 (conllnued)
Statsment of funds . prlor ye
Balance at
31 March
2024
BalanLY at
l Apnl 2023
Transf8
i￿out
InctxrK EX￿n&tUre
Unre8trlcted funds
Deslgnated funds
Premises finl
Pension flnd
TO.000
(20.000)
(41.475)
41,525
151OiXI
(61,475)
91,525
General funds
General Funds
54,336
297,232
(399,(X)2)
61,475
14,041
Total Unrnstrfcted funds
207,thS
297,232
(399,iX12)
105,566
Re8trlcted fun
Capital buildiro furKI
IntThtional Artist Exthar
Charity fund raising
1,277.673
10.OL
(35,541)
(10,LXXI)
(3.278)
1,242, 132
3,278
1,287.673
3,278
(48,819)
1,242, 132
Total of funds
I,495.￿9
3CKI,510
(447,821)
1.347,698
Page 36

STROUD VALLEYS ARTSPACE LIMITED
IA company Ilmlted by guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16. Statsment of funds (Gl)ntlnued)
The purposes of restslcted funds:
Capital bulldlng Fund -
Funds FYovid8(I for the purchase and refurbishment of 4 John Street, Stroud. Comprising principally of
grants received from ttrke Arts Council of England and also South West Regional Dev8Eopment Agency.
The grants are secured by a fixed charge over the freehold property arKI a floating charge on the whole of
the undertakings of Stroud Valleys Artspace and all its other property assets. The depreciation of the
related fixed asset Is charged against restricted buildings funds.
Purposes of deslgnated fund8.
Premises fund -
A fvnd designated by the TrU￿eeS to enable the Char￿￿ to acquire or davelop further properties to
enha￿e delivory of the charitable 8Ctivitiès.
Pension fund -
A fund dasignated by tha Truslees to enable additional contributions to be made to a key employee's
pension scheme. The expectation is that this will be addressed by the end of the March 2025 financial
year.
17. Summary offunds
Summary of funds - curront year
Balance at
31 ￿la￿h
2025
Balance at I
April 2024
Income Expenditurn
DeS￿nated funds
General fijnds
Restricted funds
91,525
14041
1,241132
91.526
1302.241)
6,733
(35.972) 1.206.160
293.933
1,347.698
293.933
(338.213) 1,303,418
Page 37

STROUD VALLEYS ARTSPACE UMITED
IA con4>any Ilnthd by guarantso)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. Summary of funds (conllnued)
Summary of funds . prlor ye¥
Balance at
31 March
2024
Transfe
l A￿￿1 2023 Irthn￿ E¥ienthture
Designated fun
General furKIs
Restrtcted funts
153,C
54,336
1.287.673
(61,475)
61,475
91,525
14,041
1,242,132
297.232
3,278
(399,LX)2)
(48.819)
1,495,tX
3￿,510
(447.821)
1,347,698
1& Analysis of net assets l)etween I￿4
Analysis of net assets betwe￿ funds . current year
Reslrfcted Unrestrlcted
funds
2025
Total
funds
2025
2025
Tangible fixed assets
Current assets
Creditors witrwn Or￿ year
1.196,
1.196.480
132.244
{25.306)
122,564
(25,306)
1,206,1
97,258
1.303.418
Analysis of net assets b6tween fund8 . prior year
Restricted Unrestrided
fvnds
funds
2024
2024
Total
fvnds
2024
Tangible f￿ed assets
Current assets
Creditors due wthin one year
1,233,919
8,213
1.233,919
139.363
(25,584)
131, 150
(25.584)
Total
1.24Z Y32
105.676
1.347.808
Page 38

STROUD VALLEYS ARTSPACE UMITED
(A comwy limlted by guarantso)
NOTES TO THE HNANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1>. Related party transactions
Neil Walker. an artistic direct(K, is also a directcr of Picturedrome Gh)s Communty Interest Compary,
previously Deepw Ltd (company registraffi numbw - 12916454). Duruw the period, stroud Valley
Artspace Ltd paid expenses on behalf (rf Pi(tsedrome Glos Community Interest Company, totalling £309
(2024 ." £17.421). wlith are recorded as partnw costs. At 31 Mard7 2025 a total of £nil was owed
to Picluredrome Glos Communty Interest Company (2023 . £nil).
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