**Charity registration number 1122304**
**Company registration number 06441350 (England and Wales)**
## **ANOTHER SPACE LIMITED**
# **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022**
## **ANOTHER SPACE LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mr A Halsey|(Appointed 27 February|
|---|---|---|
|||2022)|
||Mrs S Walker||
||Mr T Avery||
||Mrs L Rice|(Appointed 24 February|
|||2023)|
|**Secretary**|Mr T Avery||
|**Charity number**|1122304||
|**Company number**|06441350||
|**Registered office**|20 Maple Close||
||Sedbergh||
||Cumbria||
||LA10 5JE||
|**Independent examiner**|Ben Moffat FCCA||
||Ground Floor, Meadowbank House||
||Meadowbank Business Park||
||Shap Road||
||Kendal||
||Cumbria||
||LA9 6NY||
## **ANOTHER SPACE LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 12|
## **ANOTHER SPACE LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
The trustees present their annual report and financial statements for the year ended 30 November 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The continuing aim and objective is to educate people in matters of local history through the use and involvement of oral history, archives, documents and exhibitions at the heart of the community. One of the ultimate objectives is to establish a permanent and fitting commemoration in the Lake District of the link between the child Holocaust Survivors and the local area that welcomed them in 1945.
We the Trustees of Another Space Limited confirm that we are aware of and have had regard to the Charity Commission's guidance on public benefit. We are aware that this is a Legal requirement in line with the Charities Act when exercising any powers or duties to which the guidance is relevant. As such we have taken it into account when making decisions to which the guidance is relevant.
Trustees are appointed with specific skills in mind that will benefit the operation and delivery of the charity's aims and objectives. Trustees who are selected are referred to Charity Commission Guidance on public benefit when reviewing aims and objectives and planning future activities.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the company should undertake.
## **Achievements and performance**
The exhibition and project activities of 2021-22 were still limited due to Covid but the agreements with Arts Council England meant that we could continue to deliver the main projects throughout 2021 and into 2022.
The focus began to be on the archive, which has been assembled since 2005, and preparing it to become available online and throughout the transition to a proposed new build development in the future.
The permanent exhibition "From Auschwitz to Ambleside", which tells the story of the three hundred child Holocaust Survivors who came to the Lake District in 1945 directly from the concentration camps of Nazi Occupied Europe, was increasingly popular pre-Covid and will re-emerge stronger following the international film and documentary release.
Online talks and consultations continued the with UK Holocaust Memorial Foundation in Downing Street, 45 Aid Society (Holocaust Survivors) UK, United Nations,
The exhibition and office space is provided free of charge as support from Cumbria County Council and is a welcome facility for the charity because it enables work to be carried out at the heart of the Lake District and in the location where the child survivors stayed in 1945.
## **Financial review**
Funding support for activities in 2021-2022 came from a variety of sources but mainly Arts Council England..
Total income for the year amounted to £31,888. This included significant support from:
1. Arts Council England awarded £21,600 towards an archive networking and development programme of activities.
1. Donations were £4,495.
- 1 -
## **ANOTHER SPACE LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
## **Reserves policy**
Due to the fact that we are not a 'regularly funded' organisation we continue to rely on project-by-project funding via trusts and foundations. Therefore we continue to operate a no reserves policy, and have done so successfully since 2007.
Although we acknowledge the financial risk from the possibility of unforeseen expenditure, a shortfall in income, or an inability to control costs, we continue to operate this way and have therefore worked in recent years to ensure that our administrative costs are kept as low as possible and at a sustainable level.
Since 2013 we have been located in space at Windermere library, and employ people on a purely freelance/ sessional basis.
We have improved our levels of voluntary support and run the charity from the library and from home locations. This facility is provided by Cumbria County Council as support, and the space, facilities, exhibition area, and overheads are provided at no cost to the charity.
We keep all our administration costs reduced significantly in order to reduce risk and ensure the overall
resilience and sustainability of the charity.
However, it remains a responsibility of the administration and trustees to continue to research and develop ways to:
- implement a sustainable reserves policy
- raise the necessary funds to generate reserves at around 12% annually
- diversify our funding base
- mitigate the risks that might arise if the charity has to close suddenly
All Trustees oversee all financial activities of the charity and are involved at all stages of fundraising and applications for funding, project development, and delivery.
## **Structure, governance and management**
Another Space Limited is a registered charity. The governing document deed is dated 29 November 2009. The objective of the charity is to advance the education of the public in the subject of historic issues pertinent to the North West of England using an artistic approach.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr A Halsey (Appointed 27 February 2022) Mrs S Walker Mr T Avery Mr C Atkins (Resigned 4 March 2022) Mrs L Rice (Appointed 24 February 2023)
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
- 2 -
## **ANOTHER SPACE LIMITED**
## **TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
The trustees' report was approved by the Board of Trustees.
.............................. Mr T Avery Date: .............................................
- 3 -
## **ANOTHER SPACE LIMITED**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ANOTHER SPACE LIMITED**
I report to the trustees on my examination of the financial statements of Another Space Limited (the company) for the year ended 30 November 2022.
## **Responsibilities and basis of report**
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Ben Moffat FCCA**
Ground Floor, Meadowbank House Meadowbank Business Park Shap Road Kendal Cumbria LA9 6NY
Dated: .........................
- 4 -
## **ANOTHER SPACE LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income from:**
Donations and
legacies
**3**
4,495
21,600
**Expenditure on:**
Charitable activities
**4**
10,701
22,196
**Net expenditure for the**
**year/**
**Net movement in funds**
(6,206)
(596)
Fund balances at 1
December 2021
25,226
634
**Fund balances at 30**
**November 2022**
19,020
38|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
26,095
10,888
21,000
32,897
6,952
27,104
(6,802)
3,936
(6,104)
25,860
21,290
6,738
19,058
25,226
634|**Total**
**2021**
**£**
31,888
34,056
(2,168)
28,028
25,860|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **ANOTHER SPACE LIMITED**
## **BALANCE SHEET**
## _**AS AT 30 NOVEMBER 2022**_
|**Notes**
**Fixed assets**
Tangible assets
**8**
**Current assets**
Debtors
**9**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**10**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
Unrestricted funds|**2022**
**£**
430
19,045
19,475
(1,842)|**£**
1,425
17,633
19,058
38
19,020
19,058|**2021**
**£**
-
23,081
23,081
(1,842)|**£**
4,621
21,239|
|---|---|---|---|---|
|||||25,860|
|||||634
25,226|
|||||25,860|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2022.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .........................
..............................
Mr T Avery **Trustee**
## **Company registration number 06441350**
- 6 -
## **ANOTHER SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
Another Space Limited is a public benefit entity and a private company limited by guarantee incorporated in England and Wales. The registered office is 20 Maple Close, Sedbergh, Cumbria, LA10 5JE.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the company's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The company is a Public Benefit Entity as defined by FRS 102.
The company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the company.
## **1.4 Income**
Income is recognised when the company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 7 -
## **ANOTHER SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.9 Financial instruments**
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 8 -
## **ANOTHER SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2 Critical accounting estimates and judgements**
In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 9 -
## **ANOTHER SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
4,495
-
Grants receivable
-
21,600
4,495
21,600
**Donations and gifts**
Donations
4,495
-
Workshops and bursaries
-
-
4,495
-|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
4,495
10,888
-
21,600
-
21,000
26,095
10,888
21,000
4,495
8,893
-
-
1,995
-
4,495
10,888
-|**Total**
**2021**
**£**
10,888
21,000|
|---|---|---|
|||31,888|
|||8,893
1,995|
|||10,888|
- 10 -
## **ANOTHER SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
## **4 Charitable activities**
||**Charitable**|
**Charitable**|
|---|---|---|
||**Expenditure**|
**Expenditure**|
||**Heading 1**|**Heading 1**|
||**2022**|**2021**|
||**£**|**£**|
|Directors self employment fees|17,345|20,249|
|Exhibition costs|6,550|-|
|Travel and subsistence|3,451|702|
|Accountancy fees|912|940|
|Insurance|643|646|
|Office and administrative costs|762|6,743|
|Publicity and advertising|-|1,164|
|Bank charges|38|36|
|Sundry|-|380|
|Depreciation|3,196|3,196|
||32,897|34,056|
||32,897|34,056|
|**Analysis by fund**|||
|Unrestricted funds|10,701|6,952|
|Restricted funds|22,196|27,104|
||32,897|34,056|
## **5 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the company during the year.
## **6 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
## **7 Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 11 -
## **ANOTHER SPACE LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 NOVEMBER 2022**_
|**8**
**Tangible fixed assets**
**Cost**
At 1 December 2021
At 30 November 2022
**Depreciation and impairment**
At 1 December 2021
Depreciation charged in the year
At 30 November 2022
**Carrying amount**
At 30 November 2022
At 30 November 2021
**9**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**10**
**Creditors: amounts falling due within one year**
Accruals and deferred income
**11**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 30
November 2022 are
represented by:
Tangible assets
1,425
-
Current assets/(liabilities)
17,594
39
19,019
39|**Equipment**
**£**
16,993
16,993
12,372
3,196
15,568
1,425
4,621
**2022**
**2021**
**£**
**£**
430
-
**2022**
**2021**
**£**
**£**
1,842
1,842
**Total Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
1,425
4,621
-
4,621
17,633
20,605
634
21,239
19,058
25,226
634
25,860|**Equipment**
**£**
16,993
16,993
12,372
3,196
15,568
1,425
4,621
**2022**
**2021**
**£**
**£**
430
-
**2022**
**2021**
**£**
**£**
1,842
1,842
**Total Unrestricted**
**funds**
**Restricted**
**funds**
**Total**
**2022**
**2021**
**2021**
**2021**
**£**
**£**
**£**
**£**
1,425
4,621
-
4,621
17,633
20,605
634
21,239
19,058
25,226
634
25,860|
|---|---|---|
|||16,993|
|||12,372
3,196|
|||15,568|
|||1,425|
|||4,621|
|||**2021**
**£**
-|
|||**2021**
**£**
1,842|
|||**Total**
**2021**
**£**
4,621
21,239|
|||25,860|
## **12 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 12 -