REGISTERED COMPANY NUMBER: 02638799 (England and Wales)
REGISTERED CHARITY NUMBER: 1129980
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
COVENTRY ARTSPACE LIMITED
LDP Luckmans
Chartered Accounlants
1110 Elliott Court
Herald Avenue
Covenlry Business Park
Coventry
Wesl Midlands
CV5 6UB

COVENTRY ARTSPACE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
Page
Report of the Trustees
Independent Examlnerfs Report
Statement of Flnancial Activities
Balance Sheet
Notes to the Flnanclal Statem6nt8
10 to 16

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799)
REPORT OF THE TRUSTEES
for the year ended 31 March 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31 March 2025. The trustees have
adopled the provisions of Accounting and Reporting by Charities: Statemenl of Recommended Practice
applicable to charities preparing their accounts in accordance with Ihe Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectlves and aims
Coventry Artspace works with artists and communities to explore and respond to our city's most unique
characteristics and to think about its fulure as a centre for inspirational artistic engagement.
The company's aim is to advance the visual arts in Coventry for the public benefit by:
1. Providing space and lime for artists to create and exhibit their work in Coventry
2. Supporting arlists to network, collaboraie and develop their knowledge. Skills, Ihinking and good practice
3. Extending the influence and relevance of the visual arts to Coventry communities and promoting
understanding and appreciation of contemporary art geneT211y.
We are interested in the development of all types of visual art Ihat support our aims and we are especially
interested in art and artisls that impact positively on the cilsls most vulnerable and disadvantaged. For this
reason, we have a particular interest in supporting artists who have socially engaged art practices and in
fostering debate aboul this growing fEld of practice.
Page 1

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799)
REPORT OF THE TRUSTEES
for the year ended 31 March 2025
OBJECTIVES AND ACTIVITIES
Slgntflcant activities
The activities undertaken to achieve our aim fall into four categories, which often overlap..
Artistic Programme
When funding allows, our artistic programme exists to create a catalyst for exchange between local
audiences and artists, and to enable Ihe collaborative exploralion of themes relevanl to Coventry; creating
new visual art work for the city and Ihe visual arts movemenl in the process. We aim to..
Provide high quality and Iow-COSt exhibitions, evenls and projects that engage the public with contem porary
visual art practice
Develop collaborations and partnership projects wlth other cultural providers, innovating in the use of space
and resources and expanding Artspace's regional and national reputation
Contribute to networks, partnership5 and the promotion of CoventWs developing cultural offer.
Building Management
Through the management of buildings we aim to..
Promote our services and charitable purposes by hosling events and providing artist spaces
Promole, strengthen and support visual arts practice in the cily by acting as a catalyst for exchange between
artists, community groups and cultural partners.
Communlty Focused ProjeGts
Our community focused project5 aim to:
Actively increase opportunities for participation in the arls in Coventry and the region
Raise awareness of tradilional and contemporary arts practice
Use the arts as a means of exploring other subjects. e.g. environmental issu6s and healthier lifestyles
Engage audiences in exploring the historical and cultural heritage of Coventry
Celebrate the cultural diversity of Coventry
Promote community cohesion and social inclusion.
Artlst Profes8lonal Development Activities
Through our professional developmer)t activities we aim to:
Create unique opporlunities for artists living and working in Coventry, those visiting us and those that we
want to relain in the city, such as recent graduates
Support marginalised artists to develop skills and understanding of working in the arts and to access the
local and regional arts community and opportunities.
Page 2

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799)
REPORT OF THE TRUSTEES
for the year ended 31 March 2025
ACHIEVEMENT AND PERFORMANCE
Charltable actlvitles
KEY OBJECTIVES. STRATEGIES AND SIGNIFICANT ACTIVITIES 2024125
The Charity Trustees have complied with their duty lo have due regard to Ihe guidance on public benefit
published by the Charity Commission in exercising their powers or duties.
In the year 2024-25 Covenlry Artspace activities sought to deliver on its key objectives. As set out in the
company'5 Memorandum of Association, the objects for which the company was established are:
(a) lo provide services to artists with the aim of promoting. assisting and improving the arts for public benefit;
{b) lo deliver community aclivities and outreach projects using the arts,.
(c) to encourage and advance the education of the public by increasing access to the arls. and
(d) lo let, manage and mainlain studio premises suitable for members to produce artwork.
The Company sought to execute these duties with particular attention lo fostering diversity and inclusion in
the city's visual art community and the development of socially engaged art practices.
The year opened wilh disappointing news that a bid to the Inclusive Communities Fund had been
unsuccessful. A bid to Arts Council England was submitted in June. but was also unsuccessful. Although
exploration of potential funding continued, wilh limited capacity and a deficit forecast, the Company focused
instead on identifying where Savings might be made and earned income maximised. Additionally, Trustees
spent time exploring aliernative building options, as well as slrenglhening governance and trustee induction
systems. They have also supporled Lauryn Dunn in her role as Ihe Facilities Coordinator.
Over the course of the year Lauryn has continued lo manage the studios, ensuring an average occupancy
rate of over 850/0 and, with the support of Trustees. overseen the decommissioning of Arcadia gallery in City
Arcade. She has organised and supported regular meetings of the Artist Advisory Group and olher events
and has also represented Ihe Company al meetings with cultural partners. In view of the breadlh of her role,
the decision was taken at the end of the year lo amend her job title lo Operations Manager.
As part of the process of identifying savings. we conducted a review of the Artspace Exchange website and,
after receiving very little participation from users, rnade the difficult decision to freeze this site until such time
as we have the capacity to promote and manage it more effectivety.
Desplte this focus on finance and organisational review. through Lauryn's good offices the Company was able
to instigate ané support sludio holders to deliver a Ihird highly successful Studio Holder Exhibition, this time at
The Herbert Art Gallery. Lauryn has also begun working with volunteers. particularly artist Rachel Doughly, to
deliver and develop the First Thursday Artist Meet Up programme,
We are proud to have continued lo host and promote the Stories Thal Made Us project and archive at Eaton
House and so remain a partner in that project. A second exhibition inspired by the archive was delivered at
The Guildhall as parl of the 2024 South Asian Heritage Month. Plans for an Autumn 2025 exhibilion at The
Herbert Art Gallery and Museum have also been progressing. This will build on the themes of the 2024
exhibition at St Mary's Guildhall: Roots. Resilience. Representation. We expect it to stimulate conversations in
the city about a permanenl living museum based on the archive and we look forward to supporting such an
exciling development.
Towards the end of the year our small team of Trustees was shrunk further by 2 resignations due to personal
circumstances. The decision was taken to adopt a new approach to the recruilmenl of Trustee5 and look to
bring onboard a new cohort every two years, with the expectation that one or iwo would slay for three or four
years, providing continuity. Accordingly, we have begun the prO￿sS of identifying and approaching suitable
Trustees, reaching out particularly to our stakeholders, including members of the Artist Advisory Group,
Sludio Holders and our cultural partners.
While our endeavours to identify a new home for Coventry Artspace in Ihe event of our need to vacate Eaton
House have not yet borne fruit. our work to reduce Ihe def￿1t projected at the beginning of Ihe year through
maximising income and minimising expenditure has been productive, and we end the year with a small
surplus and our reserves in tacl.
Page 3

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799)
REPORT OF THE TRUSTEES
for the year ended 31 March 2025
FINANCIAL REVIEW
Reserves policy
As identified al the section entitled 'Risk Managemenl- Income., our reserves policy is to relain three months,
operating cosls. We currently have reserves (unrestricted funds) of £10,169 (2024.. £8,380) meaning that this
goal has now been achieved.
FUTURE PLANS
Our new Board of Trustees will lake up the role in July 2025 following induction. A key priority will be the
search for new premises, which is likely to involve further development of our partnerships wilh our cultural
and community partners,
Going forward we are very conscious of the difficult current climale for arts organisations generally, many of
which face challenging financial and fundraising imperalives. Having navigated a year without any signlficant
fundraising Suc￿ss. but nevertheless keeping our reserves intact and avoiding a deficit. our intention is to
conlinue on this path for the first 6 months of the new Board's term.
Between July and December we will endeavour to revive the Artspace shop and look to deliver those activities
that have developed organically over recenl years, and been produced wilh volunteer support and within our
earned income budgets, namely. a Studio Holder Exhibilion; an Open Studios event. and a programme of
First Thursday Artist Meet-ups. Our focus will be on continuing to balance Ihe books and on gathering
evidence of impact lo ensure a sound basis for future funding applications. In January there will be a Trustees
Awayday at which priorities and actions beyond December will be reviewed.
Given our on-going challenges with capacity, we are deeply indebted lo the support of Studlo Holders and Ihe
many volunteers working with us as Trustees. Advisory Group members. and Ambassadors. All have given
generously of their time. skills, expertise and insighls. Our heartfelt thanks to them all. Our particular thanks
this year go to Sarah Shalgosky, Janet Twer and Hardish Virk, all of whom have gone above and beyond
over the lasl 12 months in Iheir role as Truslees. Also, to volunleer Polly M&rredew for the management of
our Social Media and to volunteers Rachel Doughty and Bernie Rose Blossom for their work on our First
Thursday Arlisl Meet Up programme.
Flnally, our profound thanks io Lauryn Dunn for all her hard work over the course of the year, and to Mindy
Chillery for continued book keeping. financial management. and company secretary support.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
Artspace is a charitable company limited by guaranlee. administered and managed in accordance with its
Constitution adopted on 2nd June 2009. In the event of the organisation being wound up members are
required lo contribute an amount not exceeding £1. The company was established under a Memorandum of
Associalion, which established the objectives and powers of the charitable company and is governed under
its Articles of Association.
Recrultment and appolntment of new Trustees
Trustee vacancies are advertised internally and externally. Applicants are sent an information pack which
includes company information and details of the responsibilities of Trustees and references Charity
Commission guidance on eligibility and responsibility for Trustees. Interested applicants are invited to submit
a CV and have an informal discussion about the role with another Trustee, before attending a Board meeting
as an observer and registering as a Trustee. From April 2025 a new system for recruiting and inducting a new
cohort of Trustees every 2 years is lo be introduced.
Page 4

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799}
REPORT OF THE TRUSTEES
for the year ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisatlonal structure
The Board of Trustees has overall responsibility for the organisation. helping staff to sel business strategy
and policies, moniloring performance against largets. To support them with this work there is an Artspace
Advisory Group made up of local artists and studio holders. Day-to-day management of the company and
responsibility for implementing policies is carried out by the most senior member of staff {currently the
Operations Manager), wilh the support of the Trustees. When possible specific lasks and responsibilities are
delegated to other staff members and volunteers as appropriate. Staff members and volunteers are
empowered to make decisions on the efficient daily running of the organisation, but refer all major decision
making to the Board, which lakes into account their recommendations see the following section on risk
management for more information.
The company subcontracts artists and other professionals to deliver projects and activities on it5 behalf.
The Board does not have any external advisers but seeks appropriate professional advice where necessary,
for example, we use pro bono solicitors regarding legal matters.
Induction and tralnlng of naw Trustees
Traditionally the Chair and Executive Director have been responsible for inducting Truslees. As in the
previous year, in 202415 chairing of meeting5 rotaled belween Trustees. Currently, the induction and training
of new Trustees is undertaken by Trustees. The Board holds an extended strategic meeling 8ach year at
which governance is reviewed and training needs discussed. The need and opportunilies for Trustee training
advantageous to the charity are raised and discussed as appropriate at Board meetings. From April 2025 a
new system for inducting and training a new cohort of Trustees every 2 years is to be introduced.
Risk management
The Trustees have a duty to identrfy and revievrf the risks to which the charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees
dlscuss areas of risk at each Board meeting (a minimum of four times a year).
Income - the company has a reserves policy of retaining three months. operating costs. Cashflow forecasts
conlinue to be scrutinised al each Board meeting. allowing Trustees to plan ahead and identify problems.
Flnancial management - the charitVs finances are managed by the Trustees, supported by the Company
Secretary and Operations Manager. Financial updates and cashflow forecasts are scrutinised at every board
meeting by the Trustees. All cheques must be signed by two authorised persons. Signatories include the
Company Secretary, the Operations Manager and a Trustee. These people are authorised to carry out online
banking transactions {sums over £5,000 are checked with the Board before payment). Currently we have a
vacancy for the position of Treasurer. However. all trustees scrutinise cashflow and budgels at board
meetings.
Staff - The Slaff Handbook includes detailed information on essential procedures for the efficient running of
the company as well as key policies.
Pr6mlses - Coventry Art5pace office is Socaled on the 4th Floor of Eaton House and studio and meeting
spaces are offered to artists and arts organisations on the 4th and 11th Floor. The lease at Eaton House is
with Ihe Whitefriars Developmenl Group and is managed by EHB Reeves and Partners. It is a rent and rates
free lease but contains a '28-day break clause,. meaning that the organisation can be given 28 days nolice to
leave either or both floors if they are wanled by a paying lenanl. However, it is unlikely that notice will be
given on either floor in the immediate future and even more unlikely that nolice will be given on both. so the
Board consider the use of Ihe space for the Arlspace office lo be secure for the next 12 months 2nd in line
with the organisalion's policy to make use of affordable spaces in the city wherever they are available. As
anticipated, during the course of Ihe year the Company was obliged to give up use of a shop space in City
Arcade used as an exhibition space.
Health & Safety We have detailed risk assessments and l or policies covering Health & Safety and the
safeguarding of children, young people and vulnerable adults. DBS checks are carried oul as ne￿sSarY. The
Operations Manager has specific responsibility for Health & Safety and Safeguarding.
Page 5

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799)
REPORT OF THE TRUSTEES
for the year ended 31 March 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
02638799 (England and Wales)
Registered Charity number
1129980
Registered office
Floor 4. Eaton House
Eaton Road
Coventry
West Midlands
CV12FJ
Trustees
H Virk
J Tryner {resigned 21.4.25)
N Aziz
S Shalkosky (resigned 2.8.24)
D Singh (resigned 21.4.25)
C Poccard (appointed 6.5.24) (resigned 27.1.25)
Independent Examlner
M D Spafford
LDP Luckmans
Chartered Accountants
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB
Bankers
Lloyds Bank PLC
30 High Street
Coventry
West Midlands
CV15RA
Artspace Executlve Dlrector
Ms M J Chillery
Approved by order of the board of trustees on 28 July 2025 and signed on its behalf by:
H Virk - Trustee
Page 6

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
COVENTRY ARTSPACE LIMITED
Independent examiner's report to the trustees of Coventry Artspace Llmited {'the Company,)
I report to the charity trustees on my examination of the accounts of Ihe Company for the year ended
31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requiremenls of the Companies Act
2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the
2006 Act and are eligible for independenl examination, I report in respect of my examination of your charitrf5
accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my
examination I have followed the Direclions 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-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006
Act., or
the accounls do not accord wilh those records,. or
the accounts 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
the accounts have not been prepared in accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charilies (applicable to charities preparing
Iheir 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 wilh the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
M D Spafford
LDP Luckmans
Chartered Accountants
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV56UB
28 July 2025
Page 7

COVENTRY ARTSPACE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
{INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
for Ihe year ended 31 March 2025
2025
Total
furids
2024
Total
funds
Unrestricted Restricted
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
34
726
Charitable activities
Artspace
Programme activities
24.625
150
24.625
3.880
21.263
31.475
3.730
Investment income
92
92
88
Total
24,901
3,730
28,631
53,552
EXPENDITURE ON
Charitable actlvltles
Artspace
Programme activities
12,628
10,484
12,628
14,234
14,920
48,487
3,750
Total
23.112
3.750
26,862
63,407
NET INCOMEI(EXPENDITURE)
1,789
(20)
1,769
(9,855)
RECONCILIATION OF FUNDS
Total funds brought forward
8,380
2,963
11,343
21,198
TOTAL FUNDS CARRIED FORWARD
10,169
2.943
13,112
11,343
The notes form part of these financial statements
Page 8

COVENTRY ARTSPACE LIMITED (REGISTERED NUMBER: 02638799)
BALANCE SHEET
31 March 2025
2025
Total
funds
2024
Total
funds
Unrestricled Restricted
funds
funds
Notes
FIXED ASSETS
Tangible assets
440
440
794
CURRENT ASSETS
Debtors
Cash at bank and in hand
10
150
11,968
150
14.911
150
12,769
2,943
12,118
2,943
15.061
12,919
CREDITORS
Amounts falling due within one year
11
(2,389)
(2,389)
(2.370)
NET CURRENT ASSETS
9.729
2,g43
12.672
10,549
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,169
2,943
13,112
11,343
NET ASSETS
10,169
2,943
13,112
11,343
FUNDS
Unrestricted funds
Restricted funds
12
10,169
2,943
8,380
2,963
TOTAL FUNDS
13.112
11,343
The charitable company is enlitled to exemption from audit under Section 477 of the Companies Act 2006 for
the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a)
ensuring that Ihe charilable company keeps accounting records that comply wilh Sections 386 and 387
of the Companies Acl 2006 and
preparing financial statements which give a true and fair view of the slate of affairs of the charitable
company as at the end of each financial year and of ils surplus or deficit for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the
charitable company.
(b)
These financial statements have been prepared in accordance with Ihe provisions applicable to charitable
cofflpanies subject lo Ihe small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 July 2025
and were signed on its behalf by:
H Virk- Trustee
The notes form part of these financial statements
Page 9

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
CHARITABLE COMPANY INFORMATION
The charitable company 15 a private company. limited by guarantee and is incorporaled in England and
Wales.
The registered office is Floor 4. Eaton House ,Eaton Road, Coventry, CV12FJ.
ACCOUNTING POLICIES
Basls of preparing the financial statements
The financial slatemenls of the charitable company, which is a public benefit entity under FRS 102.
have been prepared in accordan￿ with the Charities SORP (FRS 102) 'Accounting and Reporting by
Charilies: Statement of Recommended Practice applicable to charities preparing their accounts in
accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) leffeclive 1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Companies Act 2006, The financial statemenls
have been prepared under the historical cost convention.
The financial staiements have been prepared on the going concern basis. Decisions have been made
by the Trustees to reduce cosls lo operate within the reduced core granl offered by Coventry City
Council.
The Trustees monitor and review the companrfs cash flow position at each Board meeting and are
always looking at least one year ahead from the date of the Board meeting.
The Trustees consider that the company will continue as a going concern and continue to work to
obtain funding to secure Ihe king term future of the company.
Income and debtors
All income is recognised in the Slalemenl of Financial Activities once the charity has entitlement to the
funds, It is probable thal the income viill be received and the amounl can be measured reliably.
Such items are recognised as debtors until they are re￿iVed by the charitable company.
Expenditure and credltors
Liabilities are recognised as expenditure as soon as there is a legal or constructive obllgatlon
committing the charity to thal expenditure, 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
accounted for on an accruals basis and has been classified under headings that aggregate all cost
relaled lo Ihe category. Where costs cannot be directly attributed lo particular headings they have been
allocated to activities on a basis consistent with the use of resources.
Charitable activities
The company has three charitable activities and the costs associated with these activitie5 are allocated
accordingly. The aclivities can be described as follows:_
Artspace - Low cost artist studios and community hire facilities for individuals and organisations
Outreach - Developmenl of arts education projects within communities
Allocation and apportionment of costs
The company incurs support costs in relation to management. finance and support costs. The
expenditure in each of these areas are split by varying percentages between the activities on the basis
of each generic natural expense heading usage by the charitable activity. These apportionments are
considered annually and are applied over Ihe full financial period.
Tanglble flxed assets
Depreciation is provided at the following annual rate5 in order to write off each asset over its estimated
useful life.
Page 10
continued...

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued
for the year ended 31 March 2025
ACCOUNTING POLICIES - continued
Tangible fixed assets
Plant and machinery
20 % on ¢051
Tangible fixed assels are capitalised at their original cost, including irrecoverable VAT and amounts
incurred to bring those assets inlo full operational use.
Assets wilh an original cost of less than £500 are not capitalised.
Taxalion
The charity is exempt from corporation tax on its charitable aclivities. Before obtaining charitable
status, the company was laxable on its external income such as bank interest and has paid
corporation tax accordingly.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the
trustees.
Designated funds are funds that have been unrestricted that the trustees. at their discretion, have set
aside for use for a specific purpose.
Restricted funds can only be used for particular restricted purpose8 Within the objects of the charity.
Restrictions arise when specified by Ihe donor or when funds are raised for particular restricted
purposes.
Further explanation of the nature and purpose of each fund is induded in the notes to Ihe flnancial
statements.
Ponslon costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Conlributlons payable to the
charitable companys pension scheme are charged to Ihe Statement of Financial Activlties in the
period to which they relate.
Deferred Incomlng resources
Income will be deferred to a future accounting period where the income specifically relates lo a time
period beyond the balance sheel date.
INVESTMENT INCOME
2025
2024
Deposit account interest
92
88
Page11
continued...

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025
SUPPORT COSTS
Governance
Costs
Management
Other
Totals
Artspace
Programme activities
5.829
7.480
6,638
1,709
161
1,080
12.628
10.269
13.309
8.347
1,241
22.897
NET INCOMEI{EXPENDITURE)
Nel incomel{expenditure) is slated afler charginty(crediting):
2025
2024
Depreciation - owned assets
354
354
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the
year ended 31 March 2024.
Trustees. expenses
There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended
31 March 2024.
Trustees have been paid travelling expenses in connection with allendance at Board meetings.
STAFF COSTS
2025
2024
Wages and salaries
Other pension costs
13,151
158
19,558
169
13,309
19,727
The average monthly number of employees during the year was as follows,.
2025
2024
Executive Director
Artspace Co-ordinator
No employees received emoluments in excess of £60,000.
There were no high paid staff in either the current or preceeding year.
KEY MANAGEMENT PERSONNEL
Key management personnel salary was £11,500 (2024: £11.333).
Page 12
continued...

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS- contlnued
for the year ended 31 March 2025
COMPARATIVES FOR THE STATEMENT OF FSNANCIAL ACTIVITIES
Unrestricted Restricted
funds
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donation5 and legacies
726
726
Charltable actlvltles
Artspace
Programme activities
21.263
22
21,263
31,475
31,453
Investment income
88
88
Total
22,099
31,453
53,552
EXPENDITURE ON
Charitable activities
Artspace
Programme activities
14,920
19,062
14.920
48,487
29,425
Total
33,982
29,425
63,407
NET INCOMEI(EXPENDITURE)
(11,883)
2,028
(9,855)
RECONCILIATION OF FUNDS
Total funds brought fo￿rd
20,263
935
21,198
TOTAL FUNDS CARRIED FORWARD
8.380
2,963
11,343
TANGIBLE FIXED ASSETS
Plant and
machinery
COST
At 1 April 2024 and 31 March 2025
5,809
DEPRECIATION
At 1 April 2024
Charge for year
5,015
354
At 31 March 2025
5,369
NET BOOK VALUE
At 31 March 2025
440
At 31 March 2024
794
Page 13
continued..

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025
10. DEBTORS: AMOUNTS FALLING DUE W￿H1N ONE YEAR
2025
2024
Prepayments
150
150
11. CREDITORS: AMOUNTS FALLING DUEWITHIN ONE YEAR
2025
2024
Other creditors
Accrued expenses
1,188
1,201
1.169
1.201
2,389
2,370
12. MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.25
Al 1.4.24
Unrestricted funds
General fund
8,380
1,789
10,169
Restricted fund8
Heritage fund
Art Friends
Cadburls Trust
Arts Council
800
935
750
458
935
750
1,278
{820)
2,963
(20)
2,943
TOTAL FUNDS
11,343
1,769
13.112
Nel movement in funds. included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unr88trlctod fund8
General fund
24,901
(23.112)
1,789
Restricted funds
Heritage fund
Arts Council
800
2,930
800
(820)
(3,750)
3,730
(3,750)
(20)
TOTAL FUNDS
28.631
(26.862)
1,769
Page 14
continued...

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025
12. MOVEMENT IN FUNDS - continued
Comparatlves for movement in funds
Net
movemenl
in funds
At
31.3.24
At 1.4.23
Unrestrlcted funds
General fund
20,263
(11,883)
8.380
Restrlcted funds
Art Friends
Cadbury's Trust
Arts Council
935
935
750
1,278
750
1,278
935
2,028
2,963
TOTAL FUNDS
21,198
(9,855)
11,343
Comparative net movement in funds. included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General fund
22,099
(33.982)
(11,883)
Restrlcted funds
Heritage fund
Cadburls Trust
Ar15 Council
Arts Society
WCC Counly Fund
900
750
26,378
3.000
425
{900)
750
1,278
(25,100)
(3,000)
{425)
31.453
(29,425)
2,028
TOTAL FUNDS
53,552
(63,407)
(9,855)
The Sustainability Fund was a grant from Coventry City Council and is reslricted to supporting the
development and sustainability of the organisation ahead of the 2021 Cily of Culture.
The Arts Council provided Emergency funding to cover variou5 aspects of the organisalion, including
cover for Artist Studio space and cover other activities during the early Covid period.
Coventry City Council through the 2021 Cily of Culture provided furKling for the Great Places project to
enable an online shop lo be established and marketed.
The Foundations Programme has been funded by Art Council England. Coventry City Council and the
Coventry City of Culture Trust to deliver a range of interlinked activities arsd sub-projects including
Artists Residencies, Artist Development Opportunities, Ambassador5 Programme and Artist on my
Street.
Page 15
continued...

COVENTRY ARTSPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continu8d
for thé yoar endèd 31 March 2025
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
Page 16