OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

ART SPACE PORTSMOUTH LIMITED

COMPANY REGISTRATION NUMBER: 01590132

REGISTERED CHARITY NUMBER: 1106685

ART SPACE PORTSMOUTH LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the Trustees 1 - 5
Examiners' Report 6
Statements of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 - 14

ART SPACE PORTSMOUTH LIMITED

REPORT OF THE TRUSTEES

The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31 March 2023.

STATUS AND ADMINISTRATION

Art Space Portsmouth Limited became a registered charity on 10 November 2004, number 1106685, and is also a registered company, number 1590132, limited by guarantee. The governing document is represented by the companies Memorandum and Articles of Association issued when the company was incorporated on 8 October 1981.

The trustees, who served during the year were: -

Tracey McEachran (appointed 30.12.2022 and elected as chair in 03.01.2023)
Mr C Merrin (resigned 30.12.2022)
Mr S Buggle (resigned 03.01.2023)
Evagelia Hagikalfa (appointed 30.12.2022)
Ms Lynn Nicholls (resigned 30.12.2022)
Ms Rebecca Crow (resigned 30.12.2022)
Ms Susan Ward (resigned 03.05.2022)
Very Revd Dr Anthony Cane
Peter Dawson (appointed 25.04.2022)
Angela Parks (appointed 05.09.2022)
Rachel Johnston (appointed 30.12.2022)
Ms Ella Kilgour (resigned 30.12.2022)

Rotation of trustees:

The Board of Trustees shall comprise not less that five and not more that eleven persons.

At every Annual General Meeting one-third of the elected and appointed members of the Board of Trustees, or if their number is not a multiple of three then the number nearest to one-third, shall retire from office. The members to retire shall be those longest in office since their last election. Regarding members of the Board of Trustees who have been in office for the same length of time, in the absence of agreement the members to retire shall be selected by lot. A retiring Board member shall be eligible for re-election further to a maximum period of six years. Co-opted persons shall stand down at the Annual General Meeting following their co-option but shall be eligible for further co-option.

Chairperson Mr S Buggle (resigned 03.01.2023)
Tracey McEachran (appointed 03.01.2023)
Company secretary A Ashworth (resigned 06.03.2023)
Address and registered office 27 Brougham Road
Southsea
Hampshire
PO5 4PA
Bankers Cooperative Bank Plc
46/48 Arundel Street
Portsmouth
Hampshire
PO1 2RG

Page 1

ART SPACE PORTSMOUTH LIMITED

REPORT OF THE TRUSTEES - Continued

Accountants:

KSL Accountants & Business Advisors 8 Spur Road Cosham Portsmouth Hampshire PO6 3EB

OBJECTIVES

Art Space Portsmouth (ASP) is committed to supporting and encouraging the practices of visual artists at every stage of their careers in the development of new work through:

Art Space Portsmouth embeds opportunities for artists in financial need throughout its programme and provision. Art Space Portsmouth is a registered charity committed to reaching these aims and contributing to the cultural ecology of Portsmouth and the surrounding regions.

ORGANISATION

The day to day running of the company is delegated to the Studio and Programme Manager (company secretary), who is answerable to the Board of Trustees. Meetings are held every 12 weeks, whereby strategic issues, new projects and finance considerations are discussed.

REVIEW

The company has operated during the year and has generated an overall deficit to carry forward.

PUBLIC BENEFIT

Visual artists are the primary beneficiaries of the charity through the provision of low cost studios; however our other organisational aims, to promote learning and appreciation of the visual arts to benefit the wider public and local community are evidenced through an active programme of:

All of these activities are fundamental to our charitable aims and clearly evidence public benefit.

Reporting on Public Benefit

The Trustees have paid due regard to the guidance on public benefit in deciding what activities the charity should undertake, as issued by the Charities Commission; arising from the Charities Act 2006.

Page 2

ART SPACE PORTSMOUTH LIMITED

REPORT OF THE TRUSTEES - Continued

ORGANISATIONAL ACTIVITIES & ACHIEVEMENTS IN 2022-23

The following list briefly highlights some of our main organisational activities and achievements for the year 2022-2023.

1. Gallery at Art Space Portsmouth

The Art Space Gallery showed work from various artists throughout the year including Stretched fundraising exhibition organised by studio Artist Kate Street, Open Studios off site members exhibition, 20 x 20 Artist Talks, Solo Exhibition by Ian Parmiter, Your Voice 2 Community Heritage Project and Soft Geometry Group Exhibition.

2. Building Works

Building works with PCC continued throughout 2022-2023.

3. Art Space Beyond the Building

In the course of this year, discussions took place to consider the value of having STUDIO 1 as an initiative to provide a programme of residencies, activities and events to both enhance the artistic life of Portsmouth and support Art Space as an organisation and charity. Jeannie Driver presented proposals for this and in December 2021 she organised a Pop-UpShop which made use of STUDIO 1 and the Gallery space. The initiative was well organised and well presented and enabled members to exhibit and sell works over a couple of weekends. The Pop-Up-Shop worked alongside a V.I.P. event, also organised by Jeannie Driver where guests and potential partner organisations could enter into conversation about possible sponsorship initiatives with Art Space.

4. Total audience numbers

It is extremely hard to quantify this. In 2022 -2023 Art Space Portsmouth activity is estimated to have reached a total audience of some 800 people in the building. This excludes the many thousands of people who visited exhibitions of work produced by Art Space Artists exhibited elsewhere in the region and country and those who participated in workshops delivered by our artists. It also excludes many thousands of people who saw our artists work through online exhibitions, talks and out social media accounts.

5. Impact on Artists

Art Space Portsmouth has an active membership of artists; 31 studio holders and an average of 20 non-studio holder members in 2022-2023 that participated in their induvial projects, workshops, artist talks, residencies, and exhibitions both nationally and internationally alongside other organisational events.

The following is a selection of some of the work Art Space artists were involved in – much more could be reported: Tapestry Weaver Philip Sanderson had a residency and exhibition at the experimental weave lab in London in July 2022. Artist Neil Taylor exhibited two pieces of work at Fort Brokhurst in Summer 2022, which was viewed by 380 visitors. Artist Naty Lopez-Holguin held a solo exhibition “Spatial Constraints and deviations within the box” at Arch Window Gallery, Isle of Wight in November 2022 where she created a site-specific installation in the high street which offered 24/7 exposure to those who might otherwise not venture into a contemporary art gallery.

Artist Kate Street exhibited at Somerset House, London in October 2022 in a group show “The Horror Show”. Fine Artist Gillian Hawkins had a solo exhibition at West Downs Gallery, University of Winchester named “Facing the Day” in February to March 2023.

Artist Adrian Mundy held an annual competition as part of his Little Forest Land Art Project with ceramicist Jan Griffiths We hold an annual competition, open to artists in Hampshire and the adjoining counties, to find a special artwork to display on their 4th Plinth during Art in the Garden. The winner of which was Olana Light, who became an Art Space Off site member to Studio Holder. Olana Light displayed one of her wearable Sculptures. Her work also included a short film, which has gone onto to be shown at other exhibitions across the region.

6. Board

Steve Buggle continued the role of Chair until December 2022 when Tracey McEachran was appointed by the Board

Page 3

ART SPACE PORTSMOUTH LIMITED

REPORT OF THE TRUSTEES - Continued

Chair’s Report

Dear Members and Supporters of Art Space Portsmouth,

As the newly appointed Chair of Art Space Portsmouth, I am pleased to present this annual report for the period from April 2022 to April 2023. This year has been one of significant change and development for our organisation.

Board Meetings and Transparency: Our board of trustees met seven times during the year, maintaining our commitment to openness and member engagement. Continuing our practice, these meetings were open to all members, fostering an environment of transparency and inclusivity. We have ensured that the minutes from these meetings were made available to all members promptly, upholding our commitment to transparency and accountability

Changes in Leadership and Board Composition: The year witnessed notable changes in our leadership and board composition. I took over as Chair on January 14, 2023, succeeding Steve Buggle, who I would like to thank for his dedication and contributions during his time as Chair.

I would also like to thank our valued trustees Colin Merrin and Lynn Nicholls, who stepped down at the beginning of 2023. Their departure marked a significant change in our board's composition, and they leave with our heartfelt thanks for their dedicated service.

Additionally, we extend our gratitude to Ally Ashworth, our former office manager, who resigned in January 2023. Ally's contributions were invaluable, and she was a great and continues to be asset to our organisation.

Current Board Composition: The current board comprises dedicated individuals committed to the growth and success of Art Space Portsmouth. Anthony Cane, now our longest-standing trustee, continues to bring depth and continuity to our board. We welcomed Peter Dawson in the Spring of 2022 and Angela Parks in the autumn of 2022, both of whom have brought fresh perspectives and ideas.

With the stepping down of Lynn and Colin, we were fortunate to have Evagelia Hagikalfa and Rachel Johnson, from our studio holders, join the board as trustees in January 2023. Their addition has been vital in bringing new energy and insights.

Collaboration and community: From early 2023 we have looked to bring together the members and the board working together to ensure that Art Space Portsmouth continues to thrive. We ran two strategy sessions to map out a way forward, one in January and a second held at the Mary Rose in March. Both were well attended, and we will continue to run these events to bring the board and members together.

Office Management: At the January gathering the Members and the Board agreed we would quickly look to recruit a new office manager with a view to find a second person to support the office manager as soon as finances would allow. Following an excellent response to our advert for an Office Manager, Myself and Rachel with the support of Eva interviewed 5 potential candidates, successfully engaging Kate Reid as our Office Manager and Steve Baker in a new role of Community Development Director. I would like to take this opportunity to thank both for becoming part of the Art Space Portsmouth community and for bringing their skills and commitment to supporting the Artist members and the Board.

Looking Forward: As we move forward, we are committed to building upon the foundations laid by our predecessors. Our focus will remain on fostering a vibrant, inclusive, and creative environment for all our members and supporters. The changes in our board reflect our evolving nature as an organisation dedicated to the arts and our community.

In conclusion, I would like to express my sincere appreciation to all our members, supporters, and the board for their ongoing commitment and support. Together, we will continue to nurture and develop Art Space Portsmouth as a place of artist practice and community engagement.

Sincerely

Tracey McEachran

Chair

Page 4

ART SPACE PORTSMOUTH LIMITED

REPORT OF THE TRUSTEES - Continued

FINANCIAL RESULTS

The net incoming resources for the year amounted to £9,871 (2022: net outgoing resources £28,729)

This comprised a £9,871 surplus for the year attributable to general unrestricted funds and £0 attributable to restricted funds.

INVESTMENT POWERS

These are governed by the Memorandum of Association which permits the funds to be invested in or upon such investments, securities or property as may be thought fit.

RESERVES

Note 11 on page 14 to the financial statements shows the assets and liabilities attributable to the various funds by type, and also describes the purpose for the fund and summarises the year's movements on each fund. Unrestricted funds amounted to £54,418 (£44,547 - 2022) and restricted funds amounted to £7,799 (£7,799 - 2022) as at 31 March 2023.

RISK MANAGEMENT

The trustees examine the major risks that the charity faces each financial year when preparing and updating the strategic plan. The charity has developed systems to monitor and control these risks to mitigate any impact that they may have on the charity in the future.

TRUSTEES' RESPONSIBILITIES

Company and Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and its financial activities for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity, and enable them to ensure that the financial statements comply with the governing document, applicable Accounting Standards and the Charity Commission's Statement of Recommended Practice 2000, the regulation made under Section 44 of the Charities Act 1993 and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Trustees on 21 December 2023

ON BEHALF OF THE TRUSTEES:T McEachran Chair

Page 5

EXAMINERS REPORT TO THE BOARD OF TRUSTEES ON THE UNAUDITED

FINANCIAL STATEMENTS OF ART SPACE PORTSMOUTH LIMITED

We report on the accounts for the year ended 31 March 2023.

Respective responsibilities of trustees and examiner

The Charity's trustees (who are also the directors for the purpose of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011(the 2011 Act)) and that an independent examination is required.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is our responsibility to:

Basis of the independent examiner's report

Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statements below.

Independent examiner's statement

In connection with our examination, no matter has come to our attention:

have not been met; or

KSL Accountants & Business Advisors

8 Spur Road Cosham

Portsmouth Hampshire PO6 3EB

Date: 21 December 2023

Page 6

ART SPACE PORTSMOUTH LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

Notes
INCOMING RESOURCES
Activities in furtherance of the
charity's objects:
2
Other Income
3
Investment income
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
Cost of generating funds:
Fundraising and Publicity
Charitable expenditure:
Direct charitable expenditure
4
Management and Administration
of the Charity
5
TOTAL RESOURCES EXPENDED
NET INCOMING/(OUTGOING)
RESOURCES FOR THE YEAR BEFORE
TRANSFERS AND REVALUATIONS
Total funds brought forward at 1 April 2022
TOTAL FUNDS CARRIED FORWARD
AT 31 MARCH 2023		 Notes Unrestricted
Funds
Restricted
General
Funds
2023
2023
2023
2022
£
£
£
£
66,289
-
66,289
48,820
35
-
35
21
17
-
17
-
Total
66,341
-
66,341
48,841
-
-
-
-
49,678
-
49,678
64,122
6,792
-
6,792
13,448
56,471
-
56,471
77,570
9,871
-
9,871
(28,729)
44,547
7,799
52,346
81,075
54,418
7,799
62,217
52,346

The results in the statement of financial activities relate to continuing operations.

There were no recognised gains or losses other that those included in the statement of financial activities.

The notes on pages 9 to 14 form part of these financial statements

Page 7

ART SPACE PORTSMOUTH LIMITED

BALANCE SHEET AS AT 31 MARCH 2023

FIXED ASSETS
Tangible Assets
CURRENT ASSETS
Debtors
Cash at Bank and In Hand
CREDITORS:
Amounts falling due within one year
NET CURRENT ASSETS:
NET ASSETS
UNRESTRICTED FUNDS
General Funds
RESTRICTED FUNDS
Restricted Fund		 Notes 2023
2022
£
£
7
7
8
9
10
11
11
864
1,966
69,184
58,577
70,048
60,543
(7,838)
(8,204)
62,210
52,339
62,217
52,346
54,418
44,547
7,799
7,799
62,217
52,346

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

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

Approved by the Board of Trustees on 21 December 2023 and signed on its behalf.

Chairperson

Tracey McEachran

The notes on pages 9 to 14 form part of these financial statements.

Page 8

ART SPACE PORTSMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

  1. ACCOUNTING POLICIES

Basis of Preparation of Accounts

The financial statements are prepared under the historical cost convention and incorporate the results of the principal activity which is described in the trustees' report and which is continuing. The accounting policies have remained unchanged throughout the year and are set out below.

The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2007) and Companies Act 2006.

Grant Income

Grants are received in respect of direct projects in which the charity are involved. The money received must then be directy used for costs associated with those individual projects.

Grants received in respect of expenditure charged to the statement of financial activities during the year have been included in the surplus (2022: deficit) for the year.

Grants received in respect of fixed assets are deferred and included in the statement of financial activities at the point when the asset becomes receivable.

Grants received to be used for specific expenditure are treated as restricted income flows on the face of the statement of financial activity. All other grants received are treated as unrestricted income.

Incoming Resources

All incoming resources are included in the Statement of Financial Activities when receivable.

Resources Expended

Resources expended are accounted for on an accruals basis. Resources expended include attributable VAT, which cannot be recovered by the Charity.

Management and Administration Costs

Only those costs specifically identified as for the administration and management of the charity are included in the financial statements as such costs.

Tangible Fixed Assets

Assets are capitalised at cost as tangible fixed assets when they are intended for use on a continuing basis in the charity's activities.

Depreciation is calculated to write off the cost of assets less their expected residual values, over their useful economic lives. The following rates have been applied during the year, on the following bases: -

Computer equipment - 33% on cost Equipment - 5% and 15% on cost and reducing balance Leasehold premises - to be written off over 6 years to the end of its lease.

Page 9

ART SPACE PORTSMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Funds

Unrestricted funds are grants, studio rents and other incoming resources receivable or generated for the objects of the Charity without further specified purpose and are available as general funds.

Restricted Funds

Restricted funds represent grants and other income resources received by the Charity on the restriction that they must be used for specific charitable purposes.

2. INCOMING RESOURCES FROM ACTIVITIES TO FURTHER THE CHARITIES OBJECTIVES

Studio rents
Members fees
Sale of works
Gallery income and tracking
Printing income
40th Anniversary fund
GASP
Studio project 1
PAT Testing		 Unrestricted
Restricted
Funds
Funds
2023
2023
2023
2022
£
£
£
£
48,161
48,161
34,348
9,875
9,875
9,281
2,982
2,982
514
765
765
-
11
11
-
-
1,625
-
160
4,350
4,350
2,534
145
145
357
66,289
-
66,289
48,820

3. OTHER INCOME
OTHER INCOME
Sundry
Donations		 2023
2022
£
£
28
21
6
-
35
21

Page 10

ART SPACE PORTSMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4. DIRECT CHARITABLE EXPENDITURE

DIRECT CHARITABLE EXPENDITURE
Studio manager
Members artwork
Open Studios
40th anniversary fund
Studio 1 project
Rent
Rates
Light and heat
Repairs and maintenance
Cleaning
Depreciation of equipment
PAT testing
Insurance		 Unrestricted
Restricted
Funds
Funds
2023
2023
2023
2022
£
£
£
£
18,976
18,976
23,097
1,339
1,339
319
435
435
-
-
5,042
868
868
1,804
9,844
9,844
9,587
385
385
330
6,077
6,077
8,653
4,860
4,860
7,408
2,380
2,380
3,016
-
4
360
360
370
4,154
4,154
4,492
Total
49,678
-
49,678
64,122

5. MANAGEMENT AND ADMINISTRATION OF THE CHARITY

Accountancy
Book-keeping
Consultancy fee
Advertising and marketing
Telephone, internet and postage
Sundry expenses
Stationery
Staff Costs:
Wages and Salaries
Pension costs		 Unrestricted
Restricted
Funds
Funds
£
£
390
2,280
1,275
2,393
92
362		 Unrestricted
Restricted
Funds
Funds
£
£
390
2,280
1,275
2,393
92
362		 Unrestricted
Restricted
Funds
Funds
£
£
390
2,280
1,275
2,393
92
362		 2023
2022
£
£
390
330
2,280
2,346
-
7,575
1,275
427
2,393
2,562
92
85
362
123
Total
6,792 - 6,792
13,448
2023
2022
£
£
18,976
22,919
178
18,976
23,097

Page 11

ART SPACE PORTSMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5. MANAGEMENT AND ADMINISTRATION OF THE CHARITY (CONTINUED)

No employee earned £50,000 per annum or more.

The average weekly number of employees during the year, calculated on the basis of full time equivalent.

Staff manager 2023
1
1		 2022
1
1

6. OPERATING SURPLUS

The operating surplus is stated after charging:

The operating surplus is stated after charging:
2023 2022
£ £
Accountancy 390 330
Depreciation of tangible fixed assets - 4
Director's emoluments and other benefits etc - -

7. TAXATION

Due to the nature of the charity's activities, there is no corporation tax liability arising on the charity's surplus for the year.

8. TANGIBLE FIXED ASSETS

COST/VALUATION
At 1 April 2022
Additions
Disposals
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for Year
On disposal
At 31 March 2023
NET BOOK VALUES
At 31 March 2023
At 31 March 2022		 Leasehold
Improvements
60,432
-
-		 Computer
Equipment
£
6,590
-
-		 Equipment
£
6,190
-
-
6,190
6,184
-
-
6,184
6
6		 Totals
£
73,212
-
-
60,432 6,590 73,212
60,432
-
-		 6,589
-
-		 73,205
-
-
60,432 6,589 73,205
- 1 7
- 1 7

Page 12

ART SPACE PORTSMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9. DEBTORS
Trade debtors - Members fees/rents outstanding
Prepayments - service plans such as lift/alarm maintenance
Other debtors - PAYE
There were no amounts falling due after more than one year.
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Sundry creditors and accrued expenses
Members returnable deposits
Wages and PAYE		 2023
£
(20)
884
-
864
2023
£
960
6,878
-
7,838		 2022
£
(292)
579
1,679
1,966
2022
£
900
6,888
416
8,204

Page 13

ART SPACE PORTSMOUTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11. STATEMENT OF FUNDS
Unrestricted Funds
General funds
Leasehold improvements
Total Unrestricted Funds
Restricted Funds
GASP
Garden project
APD
We Create Market
Lakeside
6 by 4
Total Restricted Funds
Total Funds
ASSETS OF THE FUNDS
Unrestricted General Fund
Restricted General Fund		 Balance at
1 April 2022
£
44,547
-		 Incoming
resources
£
66,341		 Incoming
resources
£
66,341		 Outgoing
Resources
£
(56,471)
0		 Balance at
31 March 2023
£
54,418
-
44,547 66,341 (56,471) 54,418
1,252
720
568
22
4,041
1,196		 -
-
-
-
-
-		 0
0
0
-
-
-		 1,252
720
568
22
4,041
1,196
7,799 - 0 7,799
52,346 66,341 (56,471) 62,217
Tangible
fixed assets
£
7
-		 Assets
£
63,170
6,878		 Liabilities
£
(960)
(6,878)		 Total
£
62,217
-
7 70,048 (7,838) 62,217

The Unrestricted General Fund represents the free funds of the charity which are not designated for particular purposes.

The assets and liabilities of the Restricted General Fund represent a designated bank balance and the sum repayable to members for studio deposits.

12. TRANSACTIONS WITH TRUSTEES

£nil was paid to the trustees during the year for expenses (2022: £nil).

£nil was paid to Trustees for services provided (2022: £nil)

13. POST BALANCE SHEET EVENTS

The financial statements take into consideration events occuring between 31 March 2023 and the date of their approval by the Board of Trustees.

14. CONTROLLING PARTY

The Board of Trustees are the controlling party of Art Space Portsmouth Limited in accordance with the constitution of the charity and company.

Page 14