SPACE2 LEEDS (A company limited by guarantee) REPORT AND UNAUDITED FINANCIAL STATEMENTS Y8ar ended: 31 March 2024 Charity no: 1105268 Company no: 4930452
SPACE2 LEEDS (A Company Limited by Guarantee) Tru8tee8' Report 31 March 2024 The trustees are pleased lo present thelr 8nnLJal trustees, report together with the financial statements of the charity for the year endlng 31 March 2024 whlch are also prepared to meet the requirements for a dlrectors, report and accounts for Companies Act purposes. The financlal statements comply wlth Ihe Charlties Act 2011, the Companies Act 2006, the Memorandum and Arllcles of Assoclatlon, and Ihe Charities Statement of Recommended Practlce {"Charltles SORP.) (appllcable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland; FRS 102) issued in October 2019. OUR PURPOSES AND ACTIVITIES Purposes and Alms The company's objects and principal actlvltles are to.. Promote and advance education by the encouragement of the arls. Provide leisure and recreational facllltles for the benefit of the public in the Interests of Social welfare with the object of improving thelr condlllons of Ilfe. How our Actlvltles dellver Publlc Beneflt In shaping our objectives for the year and planning our actlvltles we have considered the Charity Commission's guidance on public benefit, includlng the guldance "public beneflt- running a charity {PB2)" at our trustoes. me8tings. We target disadvantaged communities and vulnerable people and their famllies to enable them to better participate In acllvities and access services they would not normally be able to with a view to raising confidence, skills and resilience, improving health outcomes and developing stronger communities. ACHIEVEMENTS AND PERFORMANCE This year has seen Space2 continue full provision of arts and creative activities in our local community and across the city against the landscape of a post pandemic world facing increasing cost of living and environmental crises, once again showing adaptablllty and resilience, cementing its position at the heart of the community. De8pIt8 the ever-changing funding landscape and increased competition Space2 Trustees are able to report a financially stable year with a surplus in unrestricted funds of £9,619. This surplus is destgnated to capital spends in 2024 to improve our hire space 'Th8 Old Workshop,, to improve the facilities and increase potential room hires and associated income for the next rinancial year and beyond. We have been able to reach over 4,000 people through our activities and events, off&rlng a diverse timetable of activities for people aged 8-80. Most excitingly we were able to r&turn to Leeds Plsyhouse with our co-produced community showcase 'Ahead of the Wave,, bringing together almost 200 local performers, many of whom had worked with Space2 frequently over the last 20years, to lebrate the 20th anniversary of Space2 and the joumey our co-found8rs took from school broom cupboard to our own premises here at Gipton Fire Station.
SPACE2 LEEDS (A Company Llmlted by Guarantee) Trustees, Report 31 March 2024 Arts and Health We continued our work as part of the Men's Health Unlocked citywide men's health and wellbelng project, In partnershlp wlth Forum Central, BARCA, Touchstone 8nd the Orion Consortlum. We worked wlth partners to coproduce the second Northern Man Festival,. a weeklong programme of activitles almed at raising awareness of men's health issues. Culminatlng In a Saturday showcase at Leeds Playhouse which hosted a range of national speakers In addltion to performancos and arts activities. The festival was a great success wlth around 1,000 people participating In actlvlti6S throughout the week and 400 people altendlng the Saturday showcase. As parl of the Men's H8alth Unlocked work, wè also worked with local men and organisations to produce the 'Unlocked zlng, which featured stories by and for the men of Leeds covering wide range of health-relal8d issues, The zine was distributed via over 100 organlsations and communty settings across tha City, reaching approximately 7,tx)o men. Participatory Arts In July 2023 w8 performed our co*roduGed community showcase with almost 200 local people performing to a sell-out audierice at Leeds Playhousg. Ahead of th8 Wave captured the work of Space2 and our ground-breaking approach to partlGipatory arts in our first 20 years. Wril8r, Mary Cooper, worked with community members to c¢icreate a story celebrating Space2, reftecting the journey of the company, founders & community. Our Young People's Arts Club entered its third and final year of funding and worked with a core group of 8 local girls providing a safe space to meet after school and supporting them to grow in confidenc8. The group visited arl venues Including Leeds Art Gallery, Temple Newsam and Leeds Playhouse providing lots of inspiration for work created on the theme of climate change and sustainability. Th@ group hav8 worked with several artists, each with a very different approach to art practice and have explored a range of forms inGluding sculpture, drawing, collage, textiles and painting. Their work was featured as parl of our 20th anniversary tapestry exhibition and displayed on screen as part of 'Ahead of tha Wave., Arts and Community Continued development of Meet Me At The Old Flre Slation {MMATOFS). a pathership project with The Old Fire Slation and Zest to offer a 'one front door, approach to activities and opportunities wlth different organisations at the Old Fire Station. The final year of the project continued to build on the strengths of the work so far, with 40 active volunteers SUPPOrting the activities of one or more parlner organisation, with over 25C/Tro volunteering with more than one partner organisation. and 140 people attending a weekly activty with one or more partner organisation8 at The Old Fire Stalion for at least slx weeks. Over 1,000 people attended different communlty events run by partner organisations, including 'Fire Engine Day, family fun day and a Heritage Open Day with a pop-up museum and tours18d by former fire fighter8. In January we launchèd a Heritage Project in partnership wlth Leeds Beckett Universlty. Building on our previous work working with local people to preserve and share the hlstory of the Flre Service In Glpton, thls project will focus on the stories of women, producing a series of online 'StoryMaps' giving a multimedia account of historical events, and a one-woman tourlng show. Our pathership development with Temple Newsam House has continued through our Thrive group, including conversations and activities to r&visit its history in ways that bring relevan to local communities and spotlight under-represented groups, stories and hidden truths about its heritage.
SPACE2 LEEDS (A Company Limifed by Guarantae) Trustees, Report 31 March 2024 Arts and Soclal Justlce Space2 has continued to develop and strengthen Its work with local people to address the presslng needs of our communities, spotllghted and intensified by the pandemic and cost of living crisls. It has again seen an increase In local people accessing our services and wanting to volunteer to support their neighbours and wlder community, Thanks to the Rank Foundalion and its Time to Shlne leadershlp programme we were able to employ a Cllmate and Sustainability Intern, worklng alongside the senior leadershlp team to review our environment and sustainabllity poll¢y, co-create a sustainability and climate resilience strategy and develop and lead the Implementation of an action plan to make Space2 flt for future, including developlng an ethlcal, sustainable, local focused pmcurem8nt Policy and a community art resource Ilbrary. As part of our Clothlng Rebèllion projecl, we have run several events and activltles which have raised awareness of the environmental and soclal Impact of the fast fashion induslry and promoted upcycling and clothing repair skills. These have been hugely popular and led to sold out community fashion shows whlch have celebrated the diversty and skllls of local people whilst encouraglng conversations around cllmate change and soclal Justice. People's Panty, a volunteer-led initiative to bring affordable clothlng, homeware and fresh food to local people. whilst responding to the cllmale crlsls has gone from strength to strength. Our volunteerlgd pop up Shop8 delivered as part of thls work, provlded affordable food and clothing to over 350 IoGal people over the course of the year, and providing a vital first point of contact for local people to build trust and familiarlty with Spa2 and our wlder programme. Gipton Growers, volunteers who maintain the gardens at the Old Fire Station, now has over 20 regular volunteers, an increase of 50% pre-pandemic and the group is often volunteer led. They grow produce for local people and are in discussion with the on-slte café to provlde fresh food more regularly. In October, we held a satellite event 'llluminated' as part of Leeds Light Night here at Gipton Fire Station. Filled to the brim with light, sound and joy as we showcased projections outside of the building, an interactive installation by Akeelah Bertrum, 'Return' was also presented as well as interactive family art activities. We have continued to work with Leeds University's Dr Joanne Amiitage, (Lecturer in Digital Media). and Dr Helen Thornham (Associate Professor Digital Cultures) throughout 2023 with an extension on the Include project - exploring Al technologies and the impacts of Al across different communities. There were 3 workshops held in the Old Workshop which 8xplored radical embroidery. chat bots, and pain; all linked to Al. We have been approached to b& part of their nexl project 'Maker Spac88' which will explore approaches to making and creatlng.
SPACE2 LEEDS (A Company Llmlted by Guarantee) Trustees, Report 31 March 2024 FINANCIAL REVIEW Overview The Company has had another stable year desplte the on-golng uncertalnty and fundraising challenges. It would Ilke to thank the funders who have contlnued to support the organlsation through this difficult time. The company is able to report a flnanclal surplus on the year of £9,619 on unrestricted funds. Leeds City Council offered additional funding to enable the organisatlon to support vulnerable residents through the winter with warm spaces. VOUGhgrs for food and by providing Ilems to stay warm at home. Space2 through its Orion consortium public health contract was able to offer d8llvery that had community development focus, recognising that the challenges faced by our communlties have been exac8rbated by the impact of Covid19 and the ccY6t of living Grisls. Principal Funding Source8 Space2 receives grant funding to contribul8 towards Slaffing and operational costs as well as projects. We continue to secure grants from a range of sources to continue delivery of our arts and social change programme. responding to the increa88d and changing needs of our communities. These indude Arts Council, National Lottery Heritag8 Fund, National Lottery Community Fund, Leeds Community Foundation and Rank Foundation. A number of Trusls and Foundations contribute to running, development and activities costs. Space2 has secured a number of small commissions and conlracts through Leeds City councll.and as part of the Orlon consortium. has successfully secur8d a further >year contract through the LCC Publlc Health Directorate Community Development Based Health Improvement contract {Better Together) for E and NE Leeds. We continued our consultancy work up to August 2023 this year. offering fundraising, project development and buslness planning services to other third seclor and arts organisations. Whilst thi5 makes a small contribution, It Is Important in generating unrestrictwj income towards core running costs. Investment Pollcy Aslde from retaSnlng a prudenl amount In reserves each year most of the company's funds are to be spent in the short term so there are few funds for long term investment. Under the Memorandum and Articles of Assoclatlon the company has the power to make any investment which the trustees see flt. Reserves Pollcy and Golng Concern The trustees have reviewed the companvs needs for reserves in line with the guidance issued by the Charlty Commlssbn, At 31 March 2024 there was an accumulated surplus on unrestricted general funds of £79,640 and £10,000 on deslgnated funds. The company ultlmately Intends to hold unrestrlcted reserves approximating to 4 to 6 months runnlng costs. The trustees conslder that there are no material uncertsintles about the charktable company's ablllly to contlnue as a golng concern.
SPACE2 LEEDS (A Company Llmlted by Guarantee) Trustees. Report 31 March 2024 PLANS FOR THE FUTURE We will continue the development of the five work programrn named in our current business plan. through further development of our distinctive creative practice co-produced with local people.. whilst responding to Community need and aspirations and reflecting the need to focus on climate justice locally and interlnationally. Mlnd Body and Soul: Improving Cultural partlcipatory opportunitles for local people at all stages of their Ilves and development of lnn0vatre partnerships to improv8 health and wellbelng of Ihose affected by health inequalilies. Creatlng Change.. inspiring social action to address cllm8l8 Justlce Ihrough the power of arts and storytelling. Space2 Sustain.. focus on creative, tradltlonal crafts and upcycllng,- volunteer skillslcommunily capacity, contributing to local, non-extractive economic dev81opment including broadening Ihe reach of Clothing R8bellion with po*up shops and fashion shows of UPGyGl8d Glothing aGross East Le8ds throughout the year highlightlng the oost of fast fashlon. Supportlng Glpton Growers movlng lowards being volunteer led increasing input and co-production from local people. Growlng Volces: co-creatlng projects, performances and exhlbltlons with local people to respond to their needs and foreground marglnalised and hldden storles. Clty East Sides: developing a place-based partnershlp East Leeds Trlangle wilh East Leeds Projecl (ELP) and Chapel FM to explore and define the culturally specific Identlty of Inner East Leeds and sh8red herltage with other east sides of cities. Developing strands of work.. Green Shoots: an approach to cllmate and environmental work which emphasizes Joyful participation, shared decision maklng and communlty listenlng as an essential element of making meaningful change. working with partners across the city and testing the implementation of approaches such as doughnut economics at a neighbourhood level. We wlll bulld on the strengths of the partnershlp we have developed as parl of the Meet Me at The Old Flre Station partnershlp, enhanclng the connection and collaboration between people, organlsations arKI places in the Gipton nelghbourhood, creating more resilient and Joyful communltl6s together.
SPACE2 LEEDS (A Company Limited by Guarantee) Trust888' Report 31 March 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Charlty Name: Space2 Leeds Charlty Regi8tratlon Number: 1105268 Company Reglstratlon Number: 4930452 Reglstered Office and Operatlonal addre88: The Old Flre Statlon Gipton Approach Leeds LS9 6NL Trustees The trustees who have served during the year are: Andrew Edwards Katie Jane Hill Paul Kaiserman Richard Norton Cllr Mohammed Shahzad Catherine Walker Jane Zanzotlera (Resigned 28 September 2023) (Resigned 28 February 2024) Secretary Sarah Tolkin Dawn Fuller (Appointed 6 July 2023) (Resigned 6 July 2023) Senlor Management Team Sarah Tolkin Paul Bat*er Emma Goodway Dawn Fuller Emma Tregidden Co-Director Business & Govemance Co-Director Projects and Partnershlps Co-Director Creative and Parllclpation Joint CEO - Strategic (Resigned 31 August 2023) Joint CEO- Creative (Reslgned 31 August 2023} Independent Examiners O'Brien & Co, Chartered Accounlants 31A Finkle Street Selby Y08 4DT Banker6 Virgin Money
SPACE2 LEEDS (A Company Limited by Guarant80) Trustees, Report 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Document The organlsatlon Is a charitable company limited by gusrantee, Incorporated on 13 October 2003 and reglstered as a charity on 3 August 2004. The company was established under a Memorandum of Association which established the objects and powers of the charilable company and Is governed under its Articles of Association. In the event of the company b8ing wound up members are required to contribute an amount not exc8edlng £1. Recrultment and Appolntmont to the Board of Tru8fees The dlrectors of the company are al80 charity trustees for the purposes of charlty law. Under the requirements of the Artlcles of Association one third of trustees retlre by rotation annually. Due to the prlorltles of the company's work, children, thelr familles and community are a focus for actlvlty. The company works specrfically through the arts and takes a creatlve approach to its work with vulnerable individuals and dlsadvantaged communities. The board seeks to ensure that the needs of these groups are appropriatety reflected through the diversity of board members. Board members have conslderable skills and experience of working across a range of arts, youth, education, health and community seltings. Other representation includes finance and management skllls to ensure the most effective running of the company. The board regularly undertakes a skllls audlt and in the event of particular skills being lost or ngw skills being required, recruit through an approach to Individual to offer themselves for oleGtion to the board. Trustees, Induction and Tralnlng Potential trustees are provided with an information pack detailing the legal and flnsncial obligatiorTS of trustees and providing information regarding the elhos and actlvities of the company. Following appolntment, th8 trustee receives an induction Information pack and reGeives an introduction to tho company given by the chair of the board of Irustees and senior management team. Additionally, all twstees are asked to attend events and activities on a regular basis to familiarise and update theTnselves with the company and the context withln whl¢h it operates. Further training opportunities are offered through sessions run by other board members and voluntary sector support organisations. Organisational Structure Space2 has a Board of 5 truslees who meet bi-monthly and are responslble for the strateglc direction and policy of the Gompany. The trustees are from a variety of professlonal backgrounds with strong representation from educatlon and communlty settlngs, relevant to the work and skills needs of the company. A scheme of delegalion is in place and day to day responsibility for the provision of the services rests with the Co-Directors. The Co-Directors are responsible for ensuring that the company deliver8 Ihe services specrfied and that key performance indicators are met. The CfrDirectors cany out individual supervision of the staff team and also ensure that the leam contlnue to develop their skills and working practices in line with good practice.
SPACE2 LEEDS (A Company Limitad by Guarantee) Trusta88' Report 31 March 2024 Related Partles In so far as it Is complimentary to the company's objects the MpanY contributes to looal families and children's outcomes, Leeds Publlc Health broad health and wellbeing outcomes and other relevant local and natlon81 pollcles. The company is a provider of a range of arts and healthy living opportunitles for both children and adults to improve health outcomes, social and educational attainmenl and facllltate community development. It contributes to local action plan targets for economic regeneratlon and quality of life of community residents as well as working strategically and in partnershlp wlth local organisations, particularly those that are arts and culture based and young people, health and community focussed. It is also a founding member of the Orion Consortlum, set up to deliver positive health outcomes and redress health inequalities in Easl North East Leeds. The Meet Me At The Old Fire Station partnershlp between Space2, GFS and Zest continues to develop moving away from its pandemlo response to develop The Old Fire Statlon as a community hub, based on community economlc development prlnciples, offering a one front door approach with activities, supporl and resources for local people. A successful application to Community Fund Partnerships has enabled further development for the forthcoming 3 years as Gipton Shared Futures. Pay policy for 8enior staff The board of trustees, who are the charitable company's tnjstees, and the senlor management tsam compris8 the key management personnel of the charltable charlty In charge of directing and controlling, running and operaling Ihe company on a day to day basls. All director8 give of their time freely and no director received remuneralion or expenses in the year. T.he pay of th8 senior staff is.reviewed annually and normally increased in accordance with average earnings of other organisations in the. communty sector of similar size run on a voluntary basis. Risk Management The Trust8es have a risk management strdtegy that comprises: An annual revlew of the principal risks thal the organlsatlon face. A set of pollcles, procedures and systems to mitigal8 those risks identlfied In the annual review. Implementation of procedures designed to minimlse and manage any potential Impact should those risk mat6rlalls6. This work has identifi'ed that financial sustainability is a rlsk In the Increaslngly challenglng environment for small chariti&s. A fundraising plan is in place to monltor matters and contlnue to build reserves in lines wilh our Reserves Policy. Bi-monthly Finance Sub-committee meetings monitor progress and seek to Identify new income sources,
SPACE2 LEEDS (A Company Limlted by Guarantee) Trusteos, Report 31 March 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The directors {who are director8 for the pu0$8 of Company Law and trustees for the purpose of Charity Law) are responsible for preparing the Director's Report and the flnanclal stalements in accordance with applicable law and th8 United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the directors to prepare flnancial statements for each financlal year which give a true and fair view of the state of the affalrs of tha charitable company and of the incoming resources and application of resources, Including the income and expenditure, of the company for that period. In preparing these financial statements the direclors are required to.. select sultable accounting pollcles and then spply them consistently. observe the methods and prlnciple8 in the Charities SORP., make judgements and estlmates that are reasonable and prudent", slate whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explain8d in the financial statements.. prepare the financial statements on the golng concern basis unless It Is Inappropriate to assume that the charitable company wlll contlnue In business. The directors are responslble for keeping adequate accounting records that dlsclose with reasonable accuracy at any tlme the financial position of the company and enable them to ensure that the financial statements Gomply with Ihe Companies Aot 2006, They are also r.esponsib18 for safeguarding the assets of the charitable company and hence ft)r taklng reasonable steps for the prevention and detection of fraud and other Irregularltles. The directors are responsibl8 for the maintenance and integrty of the corporate and financlal Information included on the company's website. Legislation in the United Kingdom, governlng the preparation and dissemination of financial statements, may differ from legislatlon In other lurisdiclions. Approved b th8 board of trustees on 18 July 2024 and signed on its behalf by.. RICHARD NORTON Truste6
SPACE2 LEEDS (A Company Llmlted by Guarantee) 10 STATEMENT OF FINANCIAL ACTIVITIES (lncludlng Incomo and expendlture account) for the year ended 31 March 2024 Unroslthted D6slgnal& Funds Furmts Resffict Funds 2024 Total Funds 2024 Total Funds 2023 2024 2024 Note INCOP4lE Donations 50 50 400 Income from Charitable Activities 210,204 371,667 581,871 625,074 Investment Income 37 37 Total Income 210,2g1 371,667 581,958 625,474 EXPENDITURE Charitable Activities 200,672 377,375 578,047 663,816 Total Expendlture 200,672 377,375 578,047 663,816 Net Income l {expendlture) for the year 9,619 (5,708) 3,911 (38,342) Transfers between Funds 10,000 10,000 Not Movem8nt in Funds (381) 10,000 (5,708) 3,911 (38,342) Reconclllatlon of Funds FUND BALANCES BIF 80,021 65,353 145,374 183,716 FUND BALANCES CIF 14 79,640 10,000 59,645 149,285 145,374 The statement of financial activities includes all galns and losses recognlsed in the year. All incoming resources and resources expended derive from continulng activities. The notes on page8 13 to 23 form part of these flnancial statements.
SPACE2 LEEDS (A Company Llmlted by Guarantee) BALANCE SHEET 31 March 2024 2024 2023 note FIXED ASSETS Tanglble Assets 11 7,488 19,656 CURRENT ASSETS Deblors Cash at Bank & In Hand 12 38,977 131,189 170,166 40,962 118,051 159,013 LIABILITIES Creditors falling due within one year 13 28,369 33,295 NET CURREKf ASSETS 141.797 125,718 TOTAL ASSETS LESS CURRENT LIABILITIES 149.285 145,374 FUNDS Unrestricted Funds Designated Funds Restricted Funds 14 7g,640 10,000 59,645 80,021 65,353 149285 For the financial year ended 31 March 2024 the charftable wmpany was entitled to exemption from audlt under secUon 477 Companles Act 2006 relating to small companies. The members have not required the charitable company to obtain an audlt of its accounts for th& year In question in ardance th sectlon 476 of the Act. The directors ackrvmtedge their responsibil ities for complying with the requirements of the Companies Act 2CXJ6 with respect to actountlng records and the preparation of account8. These accounts have been prepared in accordan th the provisions appllcable to companies subject to the small companies, reglme The flnanclal statsments were approved by the Board of Directors on 18 July 2024 and signed on ts behalf by: RICHARD NO Trustee ON Company no.. 4930452
SPACE2 LEEDS {A Company Limited by Guarantee) 12 STATEMENT OF CASH FLOW For Ihe year ended 31 March 2024 2024 2023 Note Net cash generated from I (absorbgd by) op9rating actlvltles. 17 13,101 (63,348) Cash flow8 from investing a¢tivities Interest Incom6 Purchase of tangible fixed assels 37 Cash used in Investing aGtivitiè8 37 Cash flows from flnanclng actitIeS Repayment of borrowings Cash used In financlng actlvltles Increase l(Decrea8e} in cash and cash equlvalents In the year 13,138 (63,348) Cash and cash equivalonts at tho beginning of the year 118,051 181,399 Total cash and cash 8quival8nts at the end of the year 131,189 118,051
SPACE2 LEEDS (A Company Limiled by Guarantee) 13 NOTES TO THE FINANCIAL STATEMENTS 31 March 2024 ACCOUNTING POLICIES The principal accounting policies are summarised below. The accounting policles have been applled consistently throughout the year and in the precedlng year. Basls of Preparation The flnancial statements have been prepared In accordance with the Charlties: Statement of Recommended Practice (applicable to charStles preparlng thelr accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued In October 2019)- (Charities SORP (FRS 102)), the Financial Reporting Standard applicable In th& UK and Republic of Ireland (FRS 102) and the Companles Act 2006. Space2 Leeds meets the definitlon of a publ Ic benefit entity under FRS 102. Assets and liabllitles are inilially recognised at h5storl¢al Cost or transactlon value unless otherwtse slated In the relevant accounting wlicy notes. Golng Concern The trustees consider that there are no material uncertainties about the charltsble company's ability to continue as a going concern. The truste@s do nol consider that there are any sources of estimation uncertainty at the reporting dats that have a slgnlflcanl risk of causing a material adjustmant lo the carrying amounts of assets and liabilities wiÉhin the next reporting perlod. Income Recognltlon Pollcles Items of income are recognised and included in th8 accounts then all of the following crlterla are met: The charity has entitlement to the funds; any performance conditions attached to the item(s) of income hav8 been met or are fully thin the control of the charlty., • there is sufficient certalnty that reIpt of the Income is considered probable; and the amounl can be measured reliably. Donated Servlces and Facllltles Donat services or facilities are recognised as income when the charity has control over the item, any condlllons assoclated with the donated item have been met, the receipt of economlc beneflt from the use by the charity of the item is probable and that economic benefit can be measured reliably. On reoeipt, donated services and facilities are recognised on the basis of the value of the grft to the charity which is the amount the charity would have been willing to pay to obtaln services or facilities of equivalent economlc beneflt on the open market. a corresponding amount is then recognis&J in expenditure in the period of receipt. Interest Recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charlty., thls Is normally upon notification of the interest paid or payable by the Bank.
SPACE2 LEEDS (A Company Limited by Guarantee) 14 NOTES TO THE FINANCIAL STATEMENTS {contlnued) 31 March 2024 ACCOUNTING POLICIES (contlnued) Fund Accountlng Unrestrlcted funds are avallable to spend on activities that further any of the purposes of charlty. Deslgnated funds are unrestrlcted funds of the charily which the trustees have declded at their discretion to set aside to use for a speclf Ic purpjse. Restricted f unds are donations which the donor has Specifi are to be solely used for particular areas of th8 charlty's work or for speclflc projects being undertaken by the charity. Expenditure Expenditure Is recognlsed once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on Gharitable activities includes direct project costs, staff costs and their associated supporl costs. IrTecoverable VAT is charged as a cost against the activity for which the eXpendIre was incurred. Allocation of Support Costs Support costs are those functions that assist the work of the charity but do not directly undertake charltable actlvltles. Support costs include back office costs, finance, personnel, payroll and governance costs which support the company's activities. The bases on which support costs have been allocated are set out in note 6. Tangible Fixed Assets Individual fixed assets costing £1,000 or more are capitalis8d at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: Annual Rate Equipment 250/0 Debtors Trade and other debtors are rOgnIsed al the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking accixjnt of any trade discounts due. Cash at Bank and In Hand Cash al bank and cash in hand is in respect of bank balances. Creditors and Provlslons Credltors and provislons are r6¢0gnlsed where the charity has a present obl igation resulting from a past event that wll probably result in the transfer of funds lo a third party and the amount due to settle the obligation (%n be Measur or estimated rellably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
SPACE2 LEEDS (A Company Llmlted by Guarantee) 15 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2024 ACCOUNTING POLICIES {contlnued) Flnanclal Instruments The charily only has financial assets and fSnan¢lal Ilabllltles of a kind that quallfy as baslc financial instruments. Basic financial instruments are initially recognlsed at transaction value and subsequently measured at thelr selllement value with the exception of bank loans which are subsequently measured at the carrylng value plus accrued Interest less repayments. Penslon Costs The company has a defined Contrlbutlon Penslon Scheme. The penslon costs charged to the Statement of Financial Activities are the premiums payable In resp8Ct of tha accountlng period. Slgnlflcant Judgements and Estlmates In applying its accounting policies the Gompany did not have to make any significant ludgements. or estimates LEGAL STATUS OF THE CHARITY The charily is a company limited by guarantee and has no share capital. In the event of the charlty belng wound up, the Ilablllty in respect of the guarantee is limited to £1 per member of the charlty. At 31 March 2024 there were 5 members. INCOME FROM CHARITABLE ACTIVITIES UnrethCt D8slgnat Funds Funds 2024 2024 Rtrfct Funds Tolal Funds 2024 Total Funds 2023 Grants Fees and Other Income 110,671 99,533 371,667 482,338 99,533 506,539 118,535 210,204 371,667 581,871 625,074 INVESTMENT INCOME Unre8trl¢ba 0Ign&t Furbjs FU Restrl¢t&l Funds 2024 Total Funds 2024 Total Funds 2023 2024 2024 Bank Interest 37 37
SPACE2 LEEDS (A Company Llmlted by Guarantee) 16 NOTES TO THE FINANCIAL STATEMENTS (contlnuod) 31 March 2024 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Arts & Community Total Prolects 2024 Total 2024 2023 ProJ8Cts Staffing Offi Marketing Premises IT Costs Depreclatlon Support Costs (see note 6) Governance Costs (see note 6) 224,459 224,459 197,315 197,315 48,869 48,869 5,938 5,938 27,228 27,228 10,029 10,029 12,168 12,168 46,281 46,281 5,760 5,760 578,047 578,047 274,324 250,824 41,493 378 27,106 14,498 12,583 37,110 5,500 663,816 The company undertakes one activity, that of arl8 and community projects. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS The company initially identifies the costs of its support fvnctions. It then Identlfles thosg costs which relate lo th8 governance function. The table below sets out the basls for apportionment and the 8nalysls of ppOrt and governance costs. Geral Support Govern¢8 Funcoon Total Basls of Apportionment staffing Offl Premlses Independent Examinatlon 32,711 9,056 4,514 32,711 aGtU81 costs 9,056 pro rata 4.514 pro rata 5,760 8Ctuel costs 52,041 5,760 5,760 46,281 Analysls of Governance and Support Costs - previous year Genwdl Support Govwnarnce Funclk Total Basis of Apportionment Staffing Office Premlse8 Independent Examlnatlon 28,648 5,367 3,095 28,648 actual Gosts 5,367 pro rat8 3,095 pro rata 5,500 actual costs 42,610 5,500 5,500 37,110
SPACE2 LEEDS (A Company Llmlted by Guarantee) 17 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2024 NET INCOME I (EXPENDITURE) FOR THE YEAR Is stated after charging 2024 2023 Depr6¢lation Independent Examlner 12,168 5,760 12,583 5,500 STAFF COSTS & NUMBERS Staff costs were: 2024 2023 Wages & Salarles Social Sewrlty Costs Pension C08ts 212,953 10,684 6,389 230,026 256,041 15,824 7,607 279,472 No employees earned In excess of £60,000 p.a. The average number of employees during the year. Ca1lated on the basis of full time equivalents, was as follovvs.. 2024 . Number 2023 Number Co - Directors l Joint CEOS Admlnlstrdtlon & Communications Project Managers and Community Development Workers 10 13 Key Management Personnel From 1 September 2023 the key management personnel comprise the trustees and Co- Dlrectors. Prior to that the key management personnel were the truste8S, the joint CEOS, the Development Programmes Manager, the Creatlve Programmes Manager and the Buslness & Facilities Manager. No remuneratlon was paid to any tnjstees (2023: £nll). No expenses were r61mbursed to trustees durSng the year (2023.. £nil). The total emoluments of the key management personr1 (salaries, employer's NIC and pension costs) during the year was £115,430 (2023: £156,629). RELATED PARTY TRANSACTIONS No trustee or other person related to the charitable company had any personal interest In any contract or transactlon entered Into by the charitable company during the year (2023.. £Nil).
SPACE2 LEEDS (A Company Llmitsd by Guarantee) 18 NOTES TO THE FINANCIAL STATEMENTS (contlnued) 31 March 2024 10 TAXATION As a charlty Spa2 Leeds is exempt from tax on Income and galns received within categorles covered by Chapter 3 Part 11 Corporation Tax Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that the are applled to its charitable objects. No tax charge has arisen in the year. 11 TANGIBLE FIXED ASSETS Equlpment COST At 1 April 2023 Additions Disposals At 31 March 2024 49,697 49,697 DEPRECIATION At 1 April 2023 Charge for the year On disposals At 31 March 2024 30,041 12,168 42,209 NET BOOKVALUE At 31 March 2024 7,488 At 31 March 2023 19,656 All fixed assets are used in direct furtherance of the company's objects. At 31 March 2024 the company had made capital commitments of £nll (2023: £nll). 2024 2023 12 DEBTORS Trade Debtors 38,977 40,g62 2024 2023 13 CREDITORS: amounts falling due thin one year.. Trade Creditors Donations & Grants Received In Advance Taxatlon and Soclal Security 5,300 20,221 2,848 28,369 14,843 13,503 4,949 33,295
SPACE2 LEEDS (A Company Llmlted by Guarantee) 19 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2024 14 FUNDS BIF Incomlng ResouK8s Transfers 01.04.23 Resour8 Expended CIF 31.03.24 Unrestrlcted Funds General 80,021 210,291 200,672 10,000 79,640 D6signated Fund Property Fund 10,000 10,000 R8strictod Funds Arts Counclll England Capltal Arts Councll England Cultural Recovery ACE Show Barber B Jimbo's Fund National Lottery Men National Lottery Community Fund Heritage Lottery Fund Health Inequalities Fund Le8 City Council Leeds I nspired Mohn Westlake Arts Rank Foundation Peter Spaffor 19,656 (134) 29,767 12,168 7,488 (134) 66,953 96,709 5,425 13,503 13,503 39,536 39,536 119,846 119,846 49,996 8,791 2,606 2,606 14,235 14,235 8,870 8,0 8,900 17,092 16,786 30,000 30,000 371,667 377,375 3,575 41,205 8,870 7,194 7,500 65,353 59,645 TOTAL FUNDS 145,374 581,958 578,047 0 149,285
SPACE2 LEEDS (A Company Llmited by Guarantee) 20 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2024 14 FUNDS (contlnued) Analysls of mov8mots Jn Funds- provlous year BIF Incoming Resources Transfers 01,04.22 Resources Expended CIF 31,03.23 FUNDS Unrestricted Funds General 79,567 324,665 324,211 80,021 Designated Fund Property Fund Restricted Funds Arts Councill England Capital Arts Council England Cultural Recovery Arts Council England ACEICCG Thrivlng Communlties Clarion House National Lottery Community Fund Health Inequalities Fund Herltage Lottery Fund Jimbo's Fund Leeds City Council Leeds Insplred Mohn Westlake Arts Rank Foundatlon Peter Spafford Sow@rby Foundation 31,824 (134) 12,168 19,656 <134} 29,767 34,767 s,0 4,9gg 12,405 3,755 3,755 4,104 120,620 124,724 58,000 58,000 10,(K)O 10,000 9,099 36,250 8,973 10,000 30,757 8,008 10,466 300,80g 339,605 9,099 36,250 8,870 8,973 10,(MJO 14,403 8,008 10,466 104,14g 8,870 23,548 7,194 TOTAL FUNDS 183,716 625,474 663,816 145,374 Purposas of Deslgnated Fund Prope Fund Funds set asid6 to Improve our hlre space 'The Old Workshop,, to Improve the facilitles and increase potential room hires. Purposes of Restrlcted Funds.. Arts Councll England Capltal To enable a bespoke refurbishment of the offlce areas and Old Workshop space Including improving acoustics,. storage; fully accessible front door and IT kit for blended on-llne and on-site dellvery of group actlvltles and MeengS. Arts Councll England Cultural Recovery To support financial suslainability and partnership development during the pandemlc wlth contributlon to core runnlng costs and dellvery of a range of participatory arts sessions and an outdoor installatlon,
SPACE2 LEEDS {A Company Llmlted by Guarantee) 21 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2024 FUNDS (contlnued) Purposes of Restricted Funds (continued).. Art8 Council England Contribution to our annual co-produced large scale community produotion, Ahead of the Wave, held In July 2023, tslebrating the 20th anniversary of Space2, highlighling our Impact In East Leeds and looking fomard to our anS for the next 20 years In light of the ongoing environmental crisis. Bart)er B Money re1Ve for Barber B to develop and clellver hls Leeds Inspired funded performance in 2024. Project managed by spa2. The project has been granted an extension and adaptalions due to Barber B's111 heallh and death. Jimbo's Fund To work th women from acxoss East Leeds, using the 5 Ways to Wellbeing framework (Connect, Be Active, Take Notice, Learn, Glve). To build confidence and skllls so that local women have an increased sense of belonging and agency wthin their communitSes and to a¢5 servlces and provlslon they need and want and also to support them around the cost of living crisis whlle recovering from the pandemlc. National Lottery Men To work as part of the Men's Health Unlocked Project and Nelwork, delivering activities and events which improve the health and wellbeing of men. To work with Zest to coordinate the development of 'Unlocked', a 'zlne produced by and for men which raises awaren@ss of issues around men's health and wellbeing and places to access support. To c(x)rdinale and Sup 'manbassadors' working with local busin&sses to encourage Ilght touch conversations atK)ut men's health. To produce the Northern Man Feslival in July 2023 - a festival of activities and events hlghlightlng and celebratlng men's health. National Lottery Community Fund Partnerships To develop Meet Me At The Old Flre Station creating a rogniSed brarKJ across Inner East Leeds and 'one front door, approach for actlvltles based al Gipton Fire Statlon {GFS) which Is co-produo8d by and for local people. Herltage Lottery Fund To co-produce Gipton Story Maps wlth local people, fire community and ELFHG through oral histories and archival r&8earch to create an onllne, user-friendly, interactive platform to Sh£ fire herltage storles. To dlverslfy the range of histories available about the fire service and its communitles, focusing on those women served In the Serv1 and the families of servlng f irefighters. To engage new local people with the heritsge of TOFS and role of women In the fire service. Health Inequalities Fund To fund two strands of work., Meanwood Men's group with activitles focused on delivering health messages, reduclng health Inequallties and improving wellbelng of local men and Space 2 Sustain to supporl the continued development of Clothing Rebellion and People's Pantry groups selling affordable fo(xl and upcycled clothes whllst providing opportunities for social connection and support.
SPACE2 LEEDS (A Company Limlted by Guarantee) 22 NOTES TO THE FINANCIAL STATEMENTS (continuod) 31 March 2024 14 FUNDS (contlnued) Purposes of Rastrlcted Funds (contlnued).. Leeds Clty Councll Contribution to staffing costs and deliverlng actlvltles, includlng warm spaces and bespoke wellbeing packs for adults in light of the cost-of-livlng crlsls. Leeds Insplred Contribution to our annual co-produced large sca16 community productlon, Ahead of the Wave, held In July 2023, lebratIng the 20th anniversary of Space2, highlighting our impaGt in East Leeds and looking formrard to our plans for the next 20 year8 in light of the ongoing envlronmental crisls. Mohn Westlake Arts To establlsh a Chlldren and Young People's arts programme for Gipton to complement existing provision, leading to a young people programming arts activity at The Old Workshop. It Indudes contlnuatlon of The Old Fire Station Children's Choir and setting up a Young Peoplg's Arts Club where young people can experlence a range of art-forms, working wlth different professional artists. Rank Foundation To fund a Tlme to Shlne Cllmate and Sustainability Intern January- Dember 2023, supported by a range of training and development opportunities for the both the leader and the organizatlon. Peter Spafft)rd Money received for artist, Peter Spafford, to devdop and deliver his Arls Coundl funded Unsung Sports Phase 1 and 2. project managed by Space2. 15 ANALYSIS OF NET ASSETS BETWEEN FUNDS D95YJnall Funds urtrICted Re8trlctj Total 2024 2024 2024 2024 Flxed Assets Current Assets Creditors.. due within one year 7.488 7,488 52,157 170,166 28,369) 59,645 149,285 108,009 28,369 79,640 10,000 10,000 Analysls of Net Assets between Funds - pr8vious year Drnated Funds 2023 Unreslricte Reslrfcted Total 2023 2023 2023 Fixed Assets Current Assets Creditors., due wlthln one year 19,656 19,656 45,697 159,013 33,295 65,353 145,374 113,316 33,295) 80,021
SPACE2 LEEDS (A Company Llmlted by Guarantee) 23 NOTES TO THE FINANCIAL STATEf¥qENTS (continued) 31 March 2024 FUTURE FINANCIAL COMMITMENTS At 31 March 2024 the company has future operatlng lease Commltments of £71,938 (2023.. £73,500). 17 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW GENERATED BY OPERATING ACTIVITIES 2024 2023 Net movement in funds Add back depreciation charge Less interest reiVed Decrease l (Increase) In debtors (Decrease) in creditors Net cash generated from I (absorbed by) operatlng actlvlties 3,911 12,168 (37) 1,985 (4,926) (38,342) 12,583 {22,382) {15,207) 13,101 83,348 18 STATEMENT OF FINANCIAL ACTIVITIES - comparatlve Unrestrlcted t)eslgnal Funds Restrfct Fund8 2023 Total Funds 2023 2023 2023 Note INCOME Donations Income from Charltable Activities Investment Income 400 0 300.809 625,074 324,265 Total Income 324,665 300,809 625,474 EXPENDITURE Charitsble Activities 324,211 0 339,605 663.816 Total Expendilure 324,211 0 339,605 663,816 Net income l (expenditure) for the year 454 0 (38,796) {38,342) Transfers between Funds Net Nlovemant in Funds 454 0 (38,796) (38,342) ReconGlliation of Funds FUND BALANCES BIF 79.567 104,149 183,716 FUND BALANCES CJF 14 80,021 65,353 145,374
SPACE2 LEEDS (A Company Llmited by Guaranteg) 24 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SPACE2 LEEDS I report to th6 charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 10 to 23, Responslbllltles and basls of report As the charitls trustees of the company (and al80 Ils direotors for the purposes of company law} you are responslble for the preparatlon of the accounts in accordance with the requlrements of the Companies Act 2006 ('the 2006 AGt'>. Havlng satisfled myself that the accounts of the company are not requlred to be audited under Part 16 of the 2006 Act and are ellglble for independent examination, I report in rospect of my examlnation of your charlty's accounts as carried out under section 145 of th6 Charltles Act 2011 '(the 2011-Act'). 4n carrylng out my examination I have followed the Diroctions glven by the Charity Commlssion under sectlon 145(5)(b) of the 2011 Act. Independent examlner's roport Since,-th8 Gompany's gross.inGome exceeded £250,000 your examlner must be a member of a body listed in seGtlon 145 of-the 2011 Act, I confirm that l am quallfied to undertake the examination because l am a member of The Instttute of Chartered Accountants In England and Wales. whiGh is one of the listed bodles. I have completed. my examlnadon, I conflrm that no matters have come to my attention In connection with the examlnatlon glvlng me cause to belleve: 1) ac¢ountlng records were not kept In respect of the company as required by $8Ction 386 of the 2006 Act,. or 2) -.th8 account8 do not accord with those acGounling records., or 3) the aGcounls do not comply.wlth.the accounting requlrements of section 396 of the 2006 Act other than any requirement that the accounts give a 'tru@ and fair, view which is not a matter consldered as part of an Independent examination; or 4) Ihe accounts hav8 not been prepared in accordance wlth the melhods and prlnciples of the Stalemenl of Recommended practlce for accounting and reportlng by charities [appllcable to charltles preparing thelr accounts in accordance with the Financial Reportlng Standard appllcable In Ihe UK and Republic of Ireland {FRS 102)]. I have no concerns and have Gome acros8 no other matlèrs In connection with the .examinallon to which attention. should be drawn In thls report in order to enable a propgr understanding of the account8 to be reached. S W O'BRIEN O'BRIEN & CO Chartered Accountants 31a Finkle Street Sglby Y08 4DT 18 July 2024