SPACE2 LEEDS (A company limited by guarantee) REPORT AND UNAUDITED FINANCIAL STATEMENTS Year ended: 31 March 2025 Charlty no: 1105268 Company no.. 4930452
SPACE2 LEEDS (A Company Limlted by Guaranteo) Trustees, Report 31 March 2025 The trustees are pleased to present their annual trustees, report together with the financial statements of the charity for the year ending 31 March 2025 whlch are also prepared to meet the requirements for a directors, report and accounts for Companles Acl purposes. The financial stalements comply with Ihe Charlties Aot 2011, the Companies Act 2006, the Memorandum and Articles of Asscciatlon, and the Charltles Statement of Recommended Practice ("Charilies SORP°} (applicable to charltles preparing their accounts in accordance with the Financial Reporting Sta'ndard applicable in the UK and Republlc 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 arts. Provide leisure and recreational facilities for the benefft of the publlc in the interests of social welfare with the object of improving thelr condltlons of life. How our Actlvltles dellver Publlc Beneflt In shaping our objectives for the year and planning our acllvltles we have consldered the Charity Cornmission's guidance on public benefit, including the guldance "publlc benefit: running a charity (PB2)" at our trustees. meetings. We target disadvantaged communities and vulnerable people and their families to enable them to better partlclpate In activities and access services they would not normally be able to with a view to ralslng confldence, skSlls and resilience, improving health outcomes and developing stronger communltles, ACHIEVEMENTS AND PERFORMANCE Despite a year of organisational change at both senior leadership level and within the board of trustees Space2 has continued ils full provision of arts and creative activities in Glpton and Harehills and the wider city to address the multiple crises people face in a way that brings joy and connectivity. We have been able to reach over 4,000 people through our actlvities and &venls, offering a divf3rse timetable of aclivities for people aged 8 - 80. Arts and Health We continued our work as part of the Men's Health Unlocked clWide men's health and wellbeing project, in partnership with Forum Central, BARCA, Touchstone and the Orlon Consortium. As part of the Men's Health Unlocked work, we also worked wlth local men and organisations to produce the 'Unlocked zine, which featured stories by and for the men of Leeds covering a wide range of health-related issues. Th8 zine was distributed via over 100 organisations and comtnunity settings across the city, reaching approximately 7,000 men.
SPACE2 LEEDS (A Company Limited by Guarante6) Trustees, Report 31 March 2025 Arts and Health (continued) Men Through A Lens, funded by the Baring Foundation, is a project trialling 'Photovoice' methodology worklng towards portraiture techniques, nature photography and abstract expression. This will lead to a touring and on-line exhibition. Delivery partners include community settings 8erving men at the intersection of disadvantage with mental health problems. Men are supported to explore intangibles Ilke emotions, confusion, different perspectlves, reflectlon, as well as potential change. We will empower men to have ownership of their feelings, bulld confidence, skills, discover their own creativlty and be inspired to continue to access participatory arts opporlunitie8. Partlclpatory Arts We have held two out8tanding community arl exhibitions at The Old Workshop. The first was Open Call on Ihe theme of nature and received submissions and vlsitors from across the city, bringing new people to Space2 and allowing our participants to showcase their work alongside that of 'professional artists., The second was the culmlnation of our Thrlve project, featuring work Insplred by a 3 year long project based in and around Killingbeck meadows and the gardens of Church of Epiphany. Our seasonal communily events continued, dispute us not havlng a large-scale community show. We tested Open Mic bringing song, poetry and spoken word togelher at an evening event in October. Arts and Communtty Contlnued development of Meet Me At The Old Flre Station (MMATOFS}, a partnership project wlth The Old Flre_ Statlon and Zest to offer a 'one front door, approach to activktles and opporlunilies with different organisations at the Old Flre Station. New funding from the Natlonal Lottery Reaching Communitles fund has enabled us lo continue to develop our work together at the Old Fire Station, whilst also wldening our reach to develop connections and partnershlps across the Gipton Nelghbourhood. This has included establishing a group of local people who are being trained In Community Research- learning a range of creative and interactive ways of galhering the views of thelr nelghbours and then using them to inform meaningFul change in the area. We were also dellvery partners in the Fearnville Fest led by East Leeds Project - a weekend of creative workshops and events which celebrated the green space in Gipton, wlth 16 local volunteers supporting event and around 200 people taklng part In activlties. The Heritage Lottery fvnded Glplon Story Maps project moves into its second year. A group of new volunteers have been recruited to work alongside students from Leeds Beckett Unlverslty ar)d Ihe Easl Leeds Flre Heritage Group of ex-firefighters. The project lells lesser heard stories of the fire service, primarlly those of women, through interactive story maps, available on our website. A one-woman touring show written by Sarah Jane Dickiiison 18 in development for debut in September 2025.
SPACE2 LEEDS (A Company Limited by Guarantee) Trustees, Report 31 March 2025 Arts and Soclal Justlce Space2 has conlinued 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 IIng crlsls. It has agaln seen an Increase In local people accessing our services and wanting to volunteer to support thelr nelghbours and Wer community. Our Llstenlng Well project saw us engage with 192 community members in Gipton (590/0 women) Most participants expressed a deslre for more Community groups, Stronger connectlons wlth nelghbours, and a safer local envlronment. People's Pantry and Clothlng Rebelllon volunteer-led initiatives to bring affordable clothing, homeware and fresh food lo local people, had another year of meeting a high level of demand In the communlty Our volunteer led pop up shops delivered as part of this work, provided affordable food and clothlng to over 400 local people over the course of the year, and provldlng a vltal first polnt of contact for local people to build trust and familiarity with Space2 and our wlder programme. We have now wound down these initiative8 whilsl we take some tlme to refiect on our role In meellng local need for essentials in a sustainable and generative way. Common Threads Is a new textiles exchange project, that brings existing groups reflecting the dlverslty of Harehllls and Gipton together through food, textiles and traditional skllls, contrlbutlng to a wider community coheslon ambltlon. The project brings many communitie8 together including white British, bom and bred in Gipton., established South Asian and Chinese and newer migrant communities from Africa and Eastern Euro.. asylum seekers and refugees. Gipton Growers. volunteers who maintain the gardens at the Old Fire Station, continues to go from strength to strength and regularly has new members join the team of approximately 20 volunte8rs. The group have taken part in a local tree planting initiative planting 200 trees. Members of the group have 8ured funding through N8ighbourhood Matching to help local r8sKlents to improve their own gardens. Community Climate Grant funding enabled our previous Climat8 and Suslainability intem lo remain at Space2 lo ddiver Greening Gipton: an approach to climate and environmental work which emphasizes joyful participation, shared decision making and communty listening as an essential element of making meaningful change, working wilh partners across the city and testing the implementation of approaches such as doughnut economics at 8 neighbourhood level. We have continued to work with Leeds Unlversity's Dr Joanne Armitage, (Lecturer in Digital Medla), and Dr Helen Thornham {Associate Professor Digital Cultures) throughout 2024 with an extension on the Maker Spaces pmject through the Include networ4(. Maker Spaces explored what making and creating means to Space2 and focused on the following questionslthemes; how does Space2 programme work to reswnd to the seasons, whal brlngs us joy, how do we create In group sessions and how we can share best practice amongst partners. We worked in collaboratlon with the university to develop an online toolkit In terms of how Space2, and partners from Argentina and Mexico approach making.
SPACE2 LEEDS (A Company Limited by Guarantee) Trustees, Report 31 March 2025 FINANCIAL REVIEW Overvi8w The funding landscape proves to be Increasingly challenging, with fewer funds accepting applications for funding, grant size reducing and competition increasing. This is reflected In a deficit of £16,269 in unrestrlcted funds. A number of multl-year grant funder project came to an end thi8 year, meaning a particularty challenging fundraising target for the year. Having had a number of succ888es in securing funding to exiend or develop key strands of work, and with signifioant core funding secured for 25126, we are Tn a much more comfortable position entering the next financial year. Our Public Health contract wlth the Orion consortium continues to provide funding for our community development work to support our local community face the challenges of the cost of living crisis, mental heallh and wellbeing, isolation and loneliness and in the wake of the increase of increased r8clst acVIty. Prlncipal Fundlng Sources Space2 recelves grant fundlng to contrlbute towards staffing and operational costs as well as projects. We contlnue to secure grants from a range of sources to continue delivery of our arts and soclal change programme, responding to the increased and changing needs of our communities. These Include National Lottery Heritage Fund, National Lottery Community Fund, Leeds Community Foundation and Rank Foundation. A number of Trusts and Foundations contrlbute to runnlng, development and aclivities costs. Space2 has secured a number of small commlsslons and contracts through Leeds City Councll and as part of the Orion consortlum, Is movlng Into year 3 of 8 5 year contract Ihrough the LCC Public Health DSrectorate Communlty Development Based Health Improvement contracl (Better Together) for E and NE Leeds. We have begun to explore alternative means of income generatlon including corporate wellbeing days, fundraising events and expanding our room hlre offer. Whilst thls makes a small contribution, It Is important in generatlng unrestrlcted Income towards core running cosls. Investment Pollcy Aside from retaining a prudent amount in reserves each ye8r 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 Arlicles of Association the company has the power to make any investment which the trustees see fit. Reserves Pollcy and Golng Concern The trustees have reviewed the companvs needs for reserves in line with the guldance issued by the Charity Commission. At 31 March 2025 there was an accumulated surplus on unrestricted general funds of £63,371 and £10,000 on deslgnated funds. The company ultimately intends to hold unrestricted reserves approxlmatlng to 4 to 6 months running costs. Restricted funds stand at £108,084. The trustees conslder that there are no material uncertainties about the charitable company's ability to continue as a goSng concern.
SPACE2 LEEDS {A Company Llmited by Guaranfee) TNstè88' R6POrt 31 March 2025 PLANS FOR THE FUTURE Our current business plan com&s to an end in 2026, so this year will see slgnlficant work in developing and new plan which reflects the evolving contexts we work In and is shaped by the views of participants, staff and trustees. This business plan wlll see a deeper emphasis on addressing injustice and inequity through our work. We will continue to delivèr a rangè of multi-year funded projects including Dead Plants Society (in partnership wilh Leeds Museums and Galleries) Common Threads, Gipton Storymaps, Men's Heallh Unlocked and Gipton Shared Futures. We will consolidate and strengthen our role as a community anchor organisation, leading neighbourhood level change with local partners and advocating for an approach to Healthy Place Shaping with culture and creativity at its heart. We are awaiting the outcome of an applicalion to the Arls Council's National Lottery Project Grants, to fund 'P8ss It On,. Pass It On Is a creative response. co4esigned and delivered with our communlties to the bleak and hostile socio-political outlook. 11 will be a year-long multi- disciplinary explorallon and celebration of dlverse acts of artistic generosity. reciprocily and connection In our communlties, culminating in a series of exhibitions, perfomiance & film. It will build upon Space2's track record of pioneering participatory arts practice & deepen a commitment lo the potent forms of collective joy and 801idarity- We contlnue to prlorlties fundlng streams whlch make a slgnificant contribution towards cor8 costs, In 0er to malntaln stabillty and reslllence, and conlinue to diversrfy income streams Includlng developing corporate partnershlps, pa1d wellbeing offers and venue hire.
SPACE2 LEEDS {A Company Limited by Guarant88) Trustees, Report 31 March 2025 REFERENCE AND ADMINISTRATIVE INFORhlATION Charlty Name: Space2 Leeds Charlty Registratlon Number: 1105268 Company Regl8tratlon Number: 4930452 Registered Office and -Operatlonal address: The Old Flre Station Gipton Approach Leeds LS9 6NL Trustees The trustees who have served during the year ar8: Lydla Baldwin Andrew Edwards Sl8phen Hart Katie Jane Hill Richard Norton Cllr Mohammed Shahzad .Chr.istopher Terry Jane Zanzottera (Appointed 10 July 2024) {Appointed 18 July 2024> (Appoint&J 25 September 2024) Secretary Sarah Tolkln Senlor Management Team Sarah Tolkln Co-Dlrector Business & Govemance Paul Barker Co-Dlrector Projects and Partnershlps Emma Goodway Co-Direotor Cr&ative and Participation (ResKJned 27 June 2024> Independent Examlnors O'Brien & Co, Chart6red Accountants 31A Finkle Str8&t Selby Y08 4DT Bankèrs Virgin Money
SPACE2 LEEDS (A Company Llmlted by Guarantee) Trustees, Report 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Document The organlsation is a charitable company limited by guarantee, incorporated on 13 Oclober 2003 and reglstered as a charity on 3 August 2004. The company was establlshed under a Memorandum of Assoclatlon whl¢h established the objects and powers of the charitable company and is govemed under its Artlcles of Association. In the event of the company being wound up member8 are required to contrlbuto an amount not exceeding £1. Recrultment and Appolntment lo tho Board of Trustees The direclors of the company are also charity trustees for the purposes of charlty law. Under the requirements of the Articles of Association one third of trustees retlré by rotation annually. Due to the priorities of the company's work, children, their families and communlty are a focus for activity. The company works 5PeGifically Ihrough the arts and takes a creatlve approach lo its work with vulnerable individuals and disadvantaged communities. The board seeks to ensure that the needs of these groups are appropriately refiected through the dlverslty of board memb8rs. Board members have Considerable skills and experience of working across a range of arts, youth, education, health and community settings. Other representation includes finance and management skills to ensure the most effective running of the company. Th8 board regularly undertakes a skills audit and in the event of particular skllls belng lost or new skills being required, recruit through an approach to individual to offer themselves for election to the board. Trustees, Induction and Training Potential trustees are provid with an information pack detailing the legal and flnanclal obligations of bwstees and providing information regarding the ethos and activities of the company. Following appointment, the trustee receives an induction inft)rTnation pack and receives an introduction to the company given by th8 chair of the board of trustees and senlor management team. Additionally. all trustees are asked to attend events and activities on a regular basis to familiarise and update themselves with the company and the context within which it operates. Further training opportunities are offered through sessions run by other board members and voluntary sector support organi8ations. Organ18atlonal Structure Space2 has a Board of 8 trustees who meet bi-monthly and are responsible for the strategic direction and policy of the company. The trustees are from a variety of professional backgrounds with strong representatlon from education arKI community settings, relevant to the work and skills needs of the company. A scheme of delegation is in place and day to day responsibility for the provision of the Services rests with the C¢FDirectors. The Co-Directors are responsible for ensuring that the company delivers the services speclfled and that key performance indicators are met. The C(F.Directors carry out individual supeNision of the staff team and also ensure that the team continue to develop their skllls and working practices in line with good practice.
SPACE2 LEEDS (A Company Llmlted by Guarantee) Trustees, Report 31 March 2025 Related Partles In so far as it is complimentary to the company's objects the company contrlbutes to local families and children's outcomes, Leeds Public Health broad health and wellbelng outcomes and other relevant local and natlonal policies. The company is a provlder of a range of arts and healthy living opportunities for both children and adults to improve health outcomes, social and educational attainmenl and facilitate community development. It contributes to local action plan target8 for economlc regeneration and qualty of life of communlty residents as well as wot*ing slrateglcally and in partnership with local organisatlons, partlcularly those that are arts and culture based and young people, health and community focussed. It Is also a founding member of the Orion Consortium, set up to deliver positlve health outcomes and redress health inequalities in East North East Leeds. Th8 Meet Me At The Old Fire Station partnership between spa2, GFS and Zest continues, further developing The Old Fire Station as a Gommunily hub, strengthenlng partnerships across the Gipton neighbourhood and offering a one front door approach to actfvitles, support and resources for IoGal people. Funding from National Lottery Reachlng Communlties Fund has enabled further development for the forlhcoming 2 years as Glpton Shared Futures. Pay policy for senior staff The board of trustees. who are the charitable company's trustees, and the senior management team comprise the key management personnel of the ¢harltable Charity In charge of directing and controlling, running and operating the company on a day to day basis. All direclors give of their time freely and no direGtor received remuneration or expenses In the year. The pay of th8 S8nior staff is reviewed annually and normally increased in accordance wilh average earnings of other organisalions in the communty s8Ctor of similar size run on a voluntary basis. Risk Management The Trust8es have a risk management strategy that Gompris8S: An annual revlew of the prlncipal risks that the organisation face. A set of policles, procedures and systems to mitigate thos8 risks identified in the annual review. Implementation of procedures designed to minimise and manage any potential impact should those rlsk materlalise. This work has Identlfi8d that flnancial suslainability is a risk in the InCa$]nglY challenging 6nvlronment for small charities. A fundraising plan is in place to monitor matters and continue to build reserves in lines with our Reserves Policy. Monthly Flnance sUcOMMIttee meetings monitor progress and seek to identify new income sources.
SPACE2 LEEDS (A Company Limited by Guaranteo) Trustees, Report 31 March 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES The dlreotors (who are dlrectors for the purpose of Company Law and trustees for the purpose of Charlty Law) are responsible for preparing the Director's Report and the financial statements In accordan wtth applicable law and the United Klngdom Accounting Standards {Unlted Klngdom Generally Accepted Accounting Practice). Company Law requires the dlrectors to prepare financial statements for each flnancial year whl¢h glve a true and falr view of the state of the affairs of the charitable company and of the Incomlng resources and appllcatlon of resources, includlng the Income and expenditure, of the company for that perlod. In preparing these financlal statements the directors are requlred to: select suitable accounting policies and then apply them consist8ntly', observe the methods and prlnclples in the Charities SORP., make judgements and estimates that are reasonable and prudent., state wheth8r applicable UK accounting standards have been followed, subject to any material departures disclosed and explalned In the flnancial statements; prepare the financlal slatements on the going concern basis unless it is inappropriate to assume that the charllable company will continue in business. The directors are responsible ft)r keeplng adequate accounting records that disclose with reasonable accuracy at any time the flnanclal posltion of the company and enabl8 them to ensure that the financial statements comply wlth the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. The dlrectors are responslble for the maintenance and Integrlty of the corporate and financial Informatlon Included on the company's website. Legislallon In the United Kingdom. governing the preparatlon and dlsseminatlon of financial statements, may dlffer from legislation in other jurisdictions. Approved by the, ard of trustees on 25 September 2025 and slgned on its behalf by: RICHARD NO Trustee ON
SPACE2 LEEDS (A Company Limited by Guarant88) 10 STATEMENT OF FINANCIAL ACTIVITIES (Includlng Income and expenditure aGcount) for the year ended 31 March 2025 UnrtrICted Deslgnale Funds FUMIS Restrlct Funds Total Funds 2025 Total Funds 2024 2025 2025 2025 Note INCOME Donalions 1,250 1,250 50 Income from Charitable Activities . 225,795 276,916 502,711 581,871 Investment Income 37 Total Income 227,054 276,916 503,970 581,958 EXPENDITURE Charitable Activities 243,323 228,4r/ 471,800 578,047 Total Expendlture 243,323 228,477 471,800 578,047 Net in(x)me l (expendlture) for the year (16,269} 48,439 32,170 3,911 Tratisfor8 belween Funds Net Movem9nt in Funds (16,269) 48,439 32.170 3,911 Reconclllatlon of Funds FUND BALANCES BIF 79,640 10,000 59,645 149,285 145,374 FUND BALANCES CIF 14 63,371 10,000 108,084 181,455 149,285 The statement of financial activities includes all gains and losses recognlsed In the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 13 to 24 form part of these financial 8tstements.
SPACE2 LEEDS (A Cornpany Llmlted by Guarantee) 11 BALANCE SHEET 31 March 2025 2025 2024 note FIXED ASSETS Tanglble Assets 11 7,488 CURRENT ASSETS Debtors Cash at Bank & In Hand 12 13,243 181,799 195,042 38,977 131,189 170,166 LIABILITIES Creditors falling due within one year 13 13,589 28,369 NET CURRENT ASSETS 181,453 141,797 TOTAL ASSETS LESS CURRENT LIABILITIES 181,455 149,285 FUNDS Unrestricted Funds Designated Funds Restricted Funds 14 63,371 10,000 108,084 79,640 10,000 59,645 181,455 149 285 For the financial year ended 31 March 2025 the charitable company was enlitled to exemption from audlt under ction 477 Companies Act 2006 relating to small companles. -The members haiie not required the charitable company to obtain an audit of its accounts for the year In question I n accordance with section 476 of the Aot. The directors acknedge thelr responsibilities for complying with the requirements of the Companles Act 2006 wlth respect to accounting records and the preparatlon of accounts. These accounts have been prepared in accordance with Ihe provisions applicable to companies subject to the small companies, regime. The financial its behalf by: atements Mrere approved by the Board of Directors on 25 September 2025 and slgned on RICHARD N Trustee TON Company no: 4930452
SPACE2 LEEDS (A Company Limited by Guaranf8e) 12 STATEMEpif OF CASH FLOW For the year ended 31 March 2025 2025 2024 Net cash generated by oporatlng actlvltlgs (890 balow) 50.601 13,101 Cash fl¢)ws from investing activities Int8rest InGome 37 Cash used In Investlng actlvltles 37 Increase l(Dgcrea8e) in cash and cash equlvalents In the year 50.610 13,138 Cash and cash equivalents at Ihe beglnnlng of the year 131.189 118,051 Total cash and cash equivalents at thg end of the year 181,799 131,189 RECONCILIATION OF NET PJIOVEMENT IN FUNDS TO NET CASH FLOW GENERATED BY OPERATING ACTMTIES 2025 2024 Net movement in funds Add back depreciation charge Less interest received Decrease in debtors (Decrease) in creditors ' Net cash generated by operating actlvltles 32,170 7,486 (9) 25,734 14,780 50,601 3,911 12,168 (3n 1,g85 (4,926 13.101
SPACE2 LEEDS (A Company Llmlted by Guarantee) 13 NOTES TO THE FINANCIAL STATEMENTS 31 March 2025 ACCOUNTING POLICIES The principal accounting policies are summarlsed below. The accounting policies have been applied consistently Ihroughoul Ihe year and in the precedlng year. Basls of Preparatlon The finanal statements have been prepared In accordan with the Charities: Slatement of R8comm8nded Practice (applicab18 to charities preparing their accounts in accordan with Ihe Flnancial Reportlng Standard appllcable in the UK and Republic of Ireland (FRS 102)} (issued in October 2019) - (CharltSes SORP {FRS 102)), the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Spa2 Leeds meets the deflnltlon of a public benefit entity under FRS 102. Assets 8nd liabilities are initially reGognised at historical cost or transaction value unless Othe[Se stated in the relevant accounting policy notes. Going Concern The trustees consider that there are no material uncertainties about the Gharitable companvs abllity to continue as a golng conrn. The trustees do not consider that there are any sources of estimation uncertainty at the reporting dat8 that have a significant risk of causlng a materlal adjustment to the carrying amounts of assets and liabiliti8S l•Mthin the next r8POrting period. Income Recognition Policies Items of income are recognised and included in the accounts when all of the fdlowing critsria are met.. The charity has entitlement to the funds., any performance conditions attach&1 to the it8m(s) of income have been met or are fully within the control of the charity; there is suff icient certainty that receipl of Ihe income is considered probable,, an the amount can be measured reliably. Donated Servlces and Facilit169 Donated services or facilities are recognised as income when the charity has control over the Item, any conditlons associated wlth the don8led item have been met, the reIpt of economic benefit from the use by the charity of the Item is probable and that economic benefit can be measured reliably. On receipt, donated seNices and facilities are recognis6d on the basls of the value of the gift to the charity thich is the amount the charity wnuld have b60n wllllng to pay to obtsin servlces or facilities of equivalent economic benefit on the open market; a corresponding amount is then rocognised in expenditure in the period of receipt. Interest Receivable Interest on funds held on deposit is induded when receivable and Ihe amount can be measured reliably by the charity; this Is normally upon notification of the interest paid or payable by the Bank.
SPACE2 LEEDS {A Company Limited by Guarant88) 14 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2025 ACCOUNTING POLICIES (continued) Fund Accountlng Unrestricted funds are available to spend on activities that further any of the purposes of charity. Deslgnated funds ar8 unreslricted funds of Ihe charity which the trustees have decided at their discretion to set aside to use for a speclflo purpose. Restricted funds are donalions which the donor has specified are to be solely used for partlcular areas of the charity's work or for speciflc projecls being undertaken by the charity. Expenditura Expenditure is recognised On there is a legal or con8tnJctive obligation to make a payment to a thlrd party, It Is probable that settlement will be required and the amount of the obligation can be measured reliably, Expendlture on charitable actlvltles includes direct project costs, staff costs and their assoGialed support costs, Irrecoverable VAT 15 charged as a cost against the activity for which the expendSture was incurred. Allocatlon of Support Costs Support costs are thosefunctions thal assist the work of the charity but do not directly undertake charitable activilies. Supporl costs include back off ice costs, f inance, personnel, payroll and govemance costs which support the company's activities. The bases on which support costs have been allocated are set out in note 6. Tanglble Flxed Assets Individual fixed assets costing £1,IX)O or more are capitalised at cost and are depreciated over their estimated uSul economic lives on a slraight line basis as follows: Annual Rate Equipment 25Yo Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade dlscounts due. Cash at Bank and In Hand Cash at bank and cash In hand Is In respect of bank balances. Creditors and Provisions Creditors and provisions are recognised where the charity has 8 present obligation resulting from a past event that will probably result in the transfer of funds to a third parly and the amount due to settle the obl igation can be measured or estimated reliably. Crgditors and provlslons are normally recognlsed at their settlement amount after allowing for any trade dlscounts due.
SPACE2 LEEDS (A Gompany Llmlted by Guaranteo) 15 NOTES TO THE FINANCIAL STATEMENTS {continued) 31 March 2025 ACCOUNTING POLICIES {contlnued} Flnanclal Instrumenls The charity only has financial assels and financlal Ilabll Itles of a klnd thal quallfy as baslc financial instrumenfs. Basic financial instruments are Initially recc•Jnised at transaction value and subsequently rneared at thelr settlement value vvith the exptIOn of bank loans which are subsequently measured at the (xrrylng value plus ac£rued interest less repayments. Penslon Costs The company has a deflned Contrlbutlon Penslon Scheme. The pension costs charged to the Statement of Financial Activities are the premlums payable In respect of the accountlng period. Slgnlflcant Judgements and Estlmates In applying its accounting po.licies the company did not have to make any Significant ludoements. or estlmstes LEGAL STATUS OF THE CHARITY The charity is a company litnited by guarantea and has no share Gapital. In the event of the charity being WOLtnd up, the Ilablllty in respect of the guarantee is limited to £10 per member of the charlty. At 31 March 2025 there were 8 members. INCOME FROM CHARITABLE ACTivfriES Unrestrlcted DesfvJnatuJ Funds Funds 2025 Reslrlct Total Funds 2025 Total Funds 2024 2025 2025 Grants Fees and Other Income 126,439 99,356 276,916 403,355 99,356 482,338 99,533 225,795 276,916 502,711 581,871 INVESTMENT INCOME Unrestrlctsd Dedgnatexl Funds Funds 2025 2025 R&strlct Funds Total Funds 2025 Total Funds 2024 2025 Bank Interest 37
SPACE2 LEEDS (A Company Llmlted by Guarantee) 16 NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2025 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Arts& Community Tolal Projects 2025 Total 2025 2024 Projects Staff ing Off ice Marketing Premises IT Costs Depreciation Support Costs (see note 6) Governance Costs (see note 6) 147,5( 147,506 180,569 180.569 42.416 42,416 224,459 197,315 48,869 5,938 27,228 10,029 12,168 46,281 5,760 578,047 29,978 29,978 5,519 5,519 7,486 7,486 52,326 52,326 6.000 6,0 471,800 471,800 The company undertakes one activity, that of arts and community projects. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS The company initially identifies the (x)8ts of its support functions. It then identif ies tho* costs which relate to the governance functlon. The table below sets out the basis for apportionment and the analysis of support and governan costs. GtraI Support Gwn8nce FunctK Total Basis of Apportionment staffing Off ice Premises Independent Examlnation 36,486 9,783 6,057 36.486 actu81 Gosts 9,783 pro rata 6,057 pro rata 6,000 actual costs 58,326 6.000 6,000 52,326 Analyw-s of Governance and Support Costs- prevlous year G01 Support Gownancg Funcllon Total Basis of Apportionment Stafflng Off Ice Premisos Independent Examination 32,711 9.056 4,514 32,711 actual costs 9,056 pro rata 4,514 pro rata 5,760 actual costs 52,041 5,760 5,760 46,281
SPACE2 LEEDS {A Company Limited by Guarantee) 17 NOTES TO THE FINANCIAL STATEMENTS (contlnuod) 31 March 2025 NET INCOME I (EXPENDITURE) FOR THE YEAR Is stated after charglng 2025 2024 Depreciation Independent Examiner 7,486 6,000 12,168 5,760 STAFF COSTS & NUMBERS Staff costs were: 2025 2024 Wages & Sal8rles Social Security Costs Pension Costs 200,595 10,461 5,999 217,055 212,953 10,684 6,389 230,026 No amployees earned in exce&% of £60,OCXJ p.a. The average number of employees durlng the year, calculated on the basis of full tlme equivalents, was as follobvs: 2025 Number 2024 Number Co - Directors l Joint CEOS Project Managers and Community Development Workers 10 11 Key Management Personnel The key management personnel comprise the trustees and Co- Dlrectors. No remuneration was paid to any trustees (2024.. £nil). No expenses were reimbursed to trustees during the year (2024.. £nll). The total emoluments of the key management personnel (salaries, employer's NIC and pension costs) during the year was £73,544 (2024. £115,430). RELATED PARTY TRANSACTIONS No trustee or other person related to the charitable company had any personal interest in any contract or transaction entered into by the charitable company durlng the year (2024.. £NII).
SPACE2 LEEDS (A Company Limited by Guarantee) 18 NOTES TO THE FINANCIAL STATEMENTS {Gontlnued) 31 March 2025 10 TAXATION As a charlty Spa2 Leeds Is exernpt from tax on income and galns re1Ved wlthin categories covered by Chapter 3 Part 11 Corporatlon Tax Act 2010 or s256 of the Taxatlon of Chargeable Gains Act 1992 to the exteTrt that Éhese are applied to its charitable objects. No tax charge has arlsen In the year. 11 TANGIBLE FIXED ASSETS Equipment COST At 1 April 2024 Additions Disposals At 31 March 2025 49,697 49,697 DEPRECIATION At 1 Aprll 2024 Charge for the year On dlsposals At 31 March 2025 42,209 7,486 49,695 NET BOOK VALUE At 31 March 2025 At 31 March 2024 7,488 All fixed assets are used in dir8Gt furtherance of the company's objects. At 31 March 2025 the company had made capltal commltments of £nil (2024.. £nil). 2025 2024 12 DEBTORS Trade Debtors 13,243 38,977 2025 2024 13 CREDITORS: amounts falling due thIn one year.. Trade Creditors Donations & Grants Re1Ved in Advance Taxatlon and Soclal Security 8,966 5,300 20,221 2.848 28,369 4,623 13,589
SPACE2 LEEDS {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (contlnued) 31 March 2025 14 FUNDS BIF Incoming Resour Transfers 01.04.24 R&8ources Expended CIF 31.03.25 Unre8trlcted Funds General 79,640 227,054 243,323 63,371 Designated Fund Propety Fund 10,otx) 10,000 Restrfcted Funds Arts Councill England Capltal Arts Council England Cultural Recovery ACE Show Barber B Baring Foundation National Lollery Men National Lollery A4A National Lottery Community Fund Neighbourhood Matchlng Heritage Lottery Fund Leeds City Council Rank Foundation 7,488 (134) 11 3,575 7,486 (134) 11 1,OCK) 4.575 24,772 14,065 47,915 44.644 19,954 4.719 104,641 76.723 19,250 1,250 SC 20,736 40,694 40,694 18,190 13,585 276,916 228,477 10,707 3,271 15,235 27,918 18,000 20,969 41,205 7,500 59,645 12,105 0 108,084 TOTAL FUNDS 149,285 503,970 471,800 181,455
SPACE2 LEEDS (A Company Limitod by Guarantee) 20 NOTES TO THE FINANCIAL STATEMENTS (continu8d) 31 March 2025 14 FUNDS (contlnued) Analysls of movements In Funds- prevlous year BIF Incoming Resources Transfers 01.04.23 Resources Expended CIF 31.03.24 Unrestricted Funds General 80,021 210,291 200,672 10,000 79,640 Designated Fund Property Fund 10,000 10,000 Restricted Funds Arts Councill England Capital Arts Council England Cultural Recovery ACE Show Barber B Jlmbo's Fund National Lottery Men National Lottery Community Fund Herltsge Lottery Fund H8alth In4u81ities Fund Leeds City Council Leeds Insplred Mohn Westlake Arts Rank Foundation Petsr Spafford 19,656 {134) 29,767 12,168 7,488 (134) 11 3,575 66,953 96,709 g,000 5,425 13,503 13,503 39,536 39,536 119,846 119,846 49,996 8,791 2,61 2,606 14,235 14,235 8,870 8,9 8,9 17,092 16,786 30,000 30,000 371.667 377,375 41,205 8,870 7,194 7,500 65,353 59,645 TOTAL FUNDS 145,374 581,958 578,047 149,285 Purposes of Deslgnated Fund Proparty Fund Funds set aside to improve our hire Spa'The Old wkshop,, to Improve the facilities and increase potential room hires. Purposes of Restricted Fund& Arts Councll England Capltal To enable a bespoke refurbislimenl of the office areas and Old Workshop space including improving acoustics,, storage,. fully accessible front door and IT kit for blended on-llne and on-site delivery of group actlvitles 8nd Mtings. Arts Councll England Cultural Recovery To support financial suslainabilily and partnership dovelopment during the pandemic wlth contribLrtlon to core running costs and dellvery of a range of participatory arts sessions and an outdoor instsllation.
SPACE2 LEEDS (A Company Limited by Guarantee) 21 NOTES TO THE FINANCIAL STATEMENTS {contlnued) 31 March 2025 14 FUNDS (contlnued) Purpos•s of Restricted Funds (continued)." Arts Councll England Contribution to our annual co-produced large scale community produotion, Ahead of the Wave, held in July 2023, lebrating Ihe 20th annlversary of spa2, highlighting our impact in East Leeds and looking foward to our plans for the next 20 years in light of the ongoing environmental crisis. Barber B Money received for Barber B to develop and dellver hls Leeds Inspired funded performance in 2024. Project managed by Space2. Barber B 'Each One Tgach One, was performed at Northern School of Contemporary Dance In October 2024 alongside a Q & A, short film and original comp¢)sitions to celebrate Barber B's Ilfe. Bartng Foundatlon A photography prolect uslng dlverse practlce with eklY sessions for men and trlalllng 'Pholovoice' methodology working towards portraiture techniques. nature photography and abstract expresslon. This will lead to a touring and on-line exhibition. 'Photovolce' started out as a qualllatlve research method, though, increasingly is used as a community participation tool. With its r(iots in academic research, there is a body of eviden to dernonstrate its Impact. It also provldes a framework for men to b8 co-d@signers of the project's development telllng thelr own storles and reflecting their own perswtives through pictures that they take, accessible across different languages and literacy levels Jlmbo's Fund To work with women from across East Lds, using the 5 Ways to Wellbeing framework (Connect, Be Active, Take Notice, Learn, Glve). To bulld confldence and skills so that I(al women have an increased sense of belonging and agency within thelr Communlties and to ac£ess services and provision they need and want and also to support them around the Gost of living crisis while recoverlng from the pandemlc. Natlonal Lottery Men Continuation of the Men's Health Unlocked Project arKI Network, delivering activities and events which improve the health and wellbeing of men. To work wlth partners to coordinate the development of 'Unlocked', a 'zine produced by and for men lch raises awareness of Issues around men's he8llh and ¥•vellbelng and places to access support. To C)rdInate and support 'manbassadors' worklng th local businesses to encourage Ilght touch conversations about men's health. To produce the Northern Man Festival in June 2025- a festival of activities and events hlghlighting and celebrating men's health. National Lottery A4A A new textiles exchange proJect, Common Threads, that bri ngs existing groups reflectlng the diversity of Harehills and Giplon tcgether through food. textlles and tradltional skills, contributing to a wider community cohesion ambition. 8-week b1kS of textiles-based actlvities culminate In a sharing al the guest group's base with home-made food and exchange of textile gifts. A final 'Show and Tell, event at The Old Fire Station with all groups coming together will celebrate the range of textile skills, designs, heritage, products and storfes created.
SPACE2 LEEDS (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (continued) 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS {continu8d) 31 March 2025 q4 FUNDS {continued) Purposes of Restrlcted Funds (¢ontinued).' National Lott8ry Community Fund Partnerships Gipton Shared Futures - The next phase of Meet Me at The Old Flre Statlon expandlng on the SUGC8SS of th6 'slngle front door, approach to aGtivities and opportunities with a shared approach to volunteering which is community led and asset based with a widened focus on Gipton as a neighbourhood - wilh an alm to strengthen Ilnks and connections between the people, organisallons and places in Gipton. Nelghbourhood Matchlng To coordlnate the Nelghbourhood Matching project, where volunteer groups can access £10 of funding for every hour of volunteer activity they put in, towards activity that improves the local area. Heritage Lottery Fund To Ctrproduce Glpton Story Maps Vth local people, fire community and ELFHG through oral histories and archival re58arch to create an onli ne, user-friendly, inler8CtIV8 plalform to share fire heritage stories. To dlverslfy the range of hlstorles avallable abl the flre Servi and its communlties, focuslng on those women who served in the Servi and the families of servlng firefighters. To engage new Ioc81 people with the heritage of TOFS and rde of women in the fir& servi. To create a one-woman touring show depicling the stories of VK)men wtthin the fire seNlce. Health Inequaliti88 Fund To fund two strands of work; Meanwood Men's group with activities focus on ddivering health messages, reducing health inequalities and improving wellbeing of local men and Space 2 Sustaln to support the continued development of Clothing Rebellion and People's Pantry groups selling affordable food and upcycled clothes lIst providing opportunities for social connection and support. Leeds City Council Contribution to staffing costs and delivering aclivities, inclLJding warm spaces and bespoke wellbeing packs for adults in light of the cost-of-living crisls. Le8ds Insplred Contrlbutlon to our annual CprOdUCed large scale community productlon, Ahead of the Wave, held In July 2023, celebrating the 20th anniversary of Space2, highlighting our impact in East Leeds and looking forward to our plans for the next 20 years in Ilght of the ongolng envlronmental crisis. Mohn Westlako Arts To 8stablish a Children and Young People's arts programme for Gipton to complement existing provision, leading to a young people programming arts actlvity at The Old Wothshop. It includes continuation of The Old Fire Station Children's Choir and $8tting up a Young People's Arts Club ere young people can experi@nce a range of art-forms, working with different professional arti818.
SPACE2 LEEDS IA Company Limited by Guarantop) NOTES TO THE FINANCIAL STATEMENTS {contlnued) 31 March 2025 14 FUNDS {contlnued) Purposes of Restrtcted Funds (contlnued).. Rank Foundatlon To fund a fime to Shine Income Diversrfication and Generation Intern January- DeceMr 2025, supported by a range of trainSng and development opportunltles f the both the leader and the organization. Peter Spafftird Money received for artist, Peter Spafford, to develop and deliver his Arts Council funded Unsung Sports Phase 1 and 2, project managed by Space2. 15 ANALYSIS OF NET ETs BEfwEEN FUNDS Deslgnal Funds Unrestrkled Restr10tl Total 2025 2025 2025 2025 Fixed Assels Current Assets Creditors.. due within one year 76,960 13,589 63,371 10,000 108,082 195,042 13,589) 10,000 108,084 181,455 Analysis of Nat Assets belween Funds - prnvious year De8kJnat Unrtricted Total 2024 2024 2024 2024 Fixed Assets Current Assets Creditors: due wlthin one year 7,488 7,488 52,157 170,166 0 (28,369 59,645 149,285 108,009 (28,369) 79,640 10,000 10,QOQ 16 FUTURE FINANCIAL COMMITMENTS At 31 March 2025 the company has future operating leas8 commitments of £43,612 (2024: £71,938).
SPACE2 LEEDS (A Company Llmited by Guarante8) NOTES TO THE FINANCIAL STATEMENTS {continued) 31 March 2025 17 STATEMETrrr OF FINANCIAL ACTIVITIES - comparatlve unre8lr¢cl Deslgnated Funds Funds Restrlolexl Funds 2024 Total Fund5 2024 2024 2024 Note INCOME Donations Income from Charitable Activities Investment Income 50 210,204 37 50 0 371,667 581,871 37 Total Income 210,291 0 371,667 581,958 EXPENDITURE Charitable Actlvltles 200,672 0 377,375 578,047 Total Expenditure 200,672 0 377,375 578,047 Net Income l (expendlture) for the year 9,619 (5,708) 3,911 Transfers b¢trNeen Funds 10,000 10,000 Nat Mov8ment in Funds (381) 10,000 (5,708) 3,911 Reconciliation of Funds FUND BALANCES BIF 80,021 65,353 145,374 FUND BALANCES CIF 14 79,640 10,000 59,645 149,285
SPACE2 LEEDS {A Company Limited by Guarantee) 25 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF SPACE2 LEEDS I r8F>)rt to the charlty trustees on my examination of th8 accounts of the Gompany for th8 year ended 31 March 2025 which are set out on pages 11 to 24. Responslbllltles and basls of report As the charitls trustees of the company {and also Its dlrectors for the purposes of company law) you are responsible for the preparatlon of the accounts In accordan with the requirements of the Companies Act 2006 ('the 2006 Act,). Havlng satlsfled myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are ellolble for independent examination. I report in respect of my examlnatlon of your charkty's accounts as carried out under section 145 of the Charltles Act 2011 {the '2D11 Act,). In carrylng out my examination I have followed the Directions glven by the Charity Commlsslon under section 145(5)(b) of the 2011 Act. Independent examinews report Since the company's gross income 8xceeded £250,000 your examiner must be a member of a body listed in seclion 145 of the 2011 Act. I confirm that l am qualrfied to undertake the examination because l am a m8mber of The Instltute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attentlon In connection with the examination giving me Gause to believe: 1) accounting rgcords were not kept in respecl of the company as required by section 386 of the 2006 Act., or 2) the account8 do not accord with those accounling records,. or 3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other Ihan any requirement that the accounts glve a 'true and fair, view which is not a matter considered as part of an independent exarninatlon., or 4) the accounts have not been prepar8d in accordance with the methods and principles of the Statement of Recommended praGtice for aGc¢)unting and reporting by Gharities [appllcable lo charities preparing thelr accounts Sn accordance Nvith the Financl81 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concems and have come across no other matters in connection wilh the examination to which attention should be drawn In Ihis report in order to enable a proper understandlng of the accounts to be re8ched. S W O'BRIEN O'BRIEN & CO Chartered Accountants 31a Finkl8 Street Selby Y08 4DT 25 September 2025