OpenCharities

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

2022-03-31-accounts

Report of the Trustees and Financial Statements Year Ended 31st March 2022 a space: growing creative communities (t/a 'a space, arts) Registered company number: 07007198 IEngland and WaLesl Registered charity number.. 1136495 a space

REGISTERED COMPANY NUMBER: 070071911 (England and Wales) REGISTERED CHARITY NLMBER: 1136495 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR A SPACE: GROWING CREATIVE COMMUNITIES LTD (A COMPANY LIMITED BY GUARANTEE) Hopper Williams & Bell Limited C.harteied AcLoui)tants Highland House Mayflower Close Chandler's Ford Eastleigh Hampshire S053 4AR

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Page Report of the Trustees IndepeThdent Examiner's Report Statement of Financial Activities Balance Sheet 10 to 11 Notes to the Flnanclal Statements 12 to 20

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 spgce: growing cre4¢ive communities (TIA as-'a space, arts) w.aspacearts.org.uk The trustees who are also directors of the charity for Ihe purposes of the Cornpanies Act 2006, present their rekx)rt with the financial statements of the chariry for the year ended 31 March 2022. The trustees have adopted the provisions of Aecoullting and Reporting by Charitie%.' Statement of Recommended Practice applicable to Charitie% preparing their accounts in accordance with the Finallcial Reporting Standard applicable in the UK and Repiiblic of Ireland (FRS 102) (effective l January 2019). CHAIRMAN'S STATEMENT This year has been one of great challenge but a150 Opportunity. We Teopened God's House Tower with caution in June 2021, being P￿dent to conserve re5011rce and finance through a three day a week operating model. Our audience ha5 Steadily but slowly returned and we weie conscious of rebuilding in a way that was financially sustainable. Tliis ha5 led us to look again at our operatit]g inodel and to recogni5e the great importance ol'oui work to support artists in the LTeatioi) ol'ori¥inal work which was so impaLttd by Covid. Our Artists Resources progrdmme has gone from strengtl) tts Strengtl) and oui studio spaces retained artists througl)out the pandemic due to our suppvrtive approach tts rental policy. We aTe pioud of the way we were able to nurture artistic talent comiii¥ out of the pandtrnic, the bupport for artists been exemplary through the whole period and new and exciting plans foi further artists support projects have emerged. As ever, we are hugely grateful to the team for their flexibility. creativity and dedication which has resulted in a very positii'e return to full operation, in fact extending their pre Covid work. God's House Tower is now functioning well as one of the most exciting arts spaces in the region, and we believe the next period of development will see exciting new and sustainable initiatives placing the organisation at ihe heart of Southampton's creative community. DIRECTORS STATEMENT Reopening and welcoming the public back into our venues headlined by reopening GHT in June 2021 has been a joyous experience. seeing people retym and embrace our cultural programming has been hugely uplifting for our team. A strong set of exhibitions and activitie.% marked the return of GHT with highlights including the socially engaged 'knit the walls,, an inaugiiral chri￿tmaS market and intert]ational women's day exhibition alollg with the moving and emotive audio work by Emily Peasgood. As we look ahead into 2022 the %trength of the GHT programme build￿ and we look forward to exhibitions by Enain Gbewonyo, Ebun Sodipo for Black History Month and the second incarnation of Lucky Dip our micro-bursary ba%ed exhibition. A% we Jnove out of the pandemic's shadow we also re￿r￿ to growing our evening economy with live event￿ and feel optimistic that audience.% will rebuild. The pandemic Shifted our annual open Studio event at the ATches to Septeinber with all Te5idents enjoying the public returnit]b to the event followit]g tlie online version in 2021. Occupancy at the 5Mdios ha5 returned post-pandemic, the studi05 are full again and we are now lookinbF forward to the 2022 open studio event in September. The spirit and moial in Old Northam Road tl)roubTh the RIPE pioject and work of the ZEST Collective remains IiibFh. Bolstered by the 4th annual Lol)ort of new artists. the RIPE Peaches. and a new sense of fieedom in the ZEST Collective following their first Arts Council giant. This is underpinned by our tsngoing Artist ResouiLes work with the continuation of popular aspects including artist 1-2- I's, ai)d Artist Networks alongside expansions in Artist Voices to include professionals from outside tsf the city and guest artists hosting 1-2-1's drawn from oui exhibitions prtsgrainme. Page I

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 Our team from ix)ard member to staff team is unified, supportive and upbeat as we now plan for the future with more confidence and optimism. In the year ahead, 2022123, will airn to strengthen the core of the organisation with new funding, diversify income through a new business plan and continue to deliver a high-qualiry, relevant, inclusive and exciting cultural programme. OBJECTIVES AND ACTIVITIES Charitable Objective The charitie% fonnal objective is. To promote, maintain, improve and advance ediication for the benefit of the public, by developing public appreciation and understanding of vi%ual arts and by improving acce%$ to, and the quality of the vi%ual art%, primarily but not exclusively in Southampton and its surrounding area. Mission StatemeTht To deliver our fotmal charitable objective three core aims are at heart of our work.. - To support and charnpion the work of visual artists and create opportllnities for thern to thrive by establishing financially Sustainable careers. To positively change the city's visual arts coiknmunity by championing and bUPPOrting artists, including the under- represented. Tts create opportunities for the public to engage with. leam from and be ii)spiied by the work of visual artists. Page 2

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 ACHIEVEMENT AND PERFORMANCE Background Established in 2000 as an organis3tion 'by artists for artists. we have retained an enterprising approach to our work and developed a project portfolio to achieve our aims of supporting visual artists and inspiring audiences. The organisation's ethos has grown since our Director and founder, Daniel Crow, conceived of a space, arts upon graduating with a degree in Fine Art. Motivated to create exhibition %pace.% for emerging arti%ts in Soiithampton he opened our fJr%t gallery, a converted Victorian shop Ulllt on Old Northam Road ivith a £500 grant from Hajnpshire Coiillty Council. Ever since we have %ince grown incrementally and strategically acro%s multiple project%, ciilturally reanimating several buildillg% in Southampton, becoming a rtgi%tered charity and an Art% Council England (ACE) National Portfolio Organisation (NPOI. Founding Projects- The Arches, ArtVAults, the Bargate Monument Gallery For over 20 years we have culturally reanimated vacant spaces in and around Southampton to Create S￿d10S, galleries and public venue5 that support visual artist5 and offer cominunities high-quality cultural experiences. Underpinning our support foi artists is affordable studio space with the Arches, our first studio project opening in 2004 followed by Tower House in 2011. Both piojects. contribute to the legion's aftoTdable studio sector and collectively provide 27 spaces for visual artlbts at varyin¥ career sta¥es workin¥ across a range of media. Our reputation for culturally reaniinatin¥ heritage sites was initiated in 2004 with the innovative project Artvaults that utilised 12 medieval vaultb around South￿plo￿,s Old Toivn as exhibitions spaces. creating a free public trail. This seminal project inforn]ed us of the powerful combination arts and heritage and opened up a new pathway for our growth and development. Between 2006 and 2012 we ran the Bargate Monument Gallery on the first floor of the Bargate, the fomier medieval gateway to the Old Town, in the heart of the city centre. This important chapter in our history raised our profile. broadened our experience, offered artists a high-profile exhibition space and expanded our audiences. These years were an important period for the organisation as we received our first major etemal fvnding from the Esmée Fairbairn Foundation, our first ACE grant, became 8 charity and established a board. Current activities We achieve our mission across the following projects and activities to SllPPOrt the artists and communities we serve. Gods House Tower (GHD- godshou5etoTrver.org.uk Our vision tran%formed GHT taking it frojn a vacant scheduled anciellt monument to a dynamic new arts and heritage venue in the heart of the old town. Thi% flagship venue now ho.%t% and enticing exhibition% and activities programme by regional visual arts talent and cultural practitioners that attracts audiences from a wide deJnogTaphic spectrum. The vet]ue it]cludes a permeant exliibition '5tories bel)ind the 5tone5', located in the tower about the inonument5 history alonbFside a chanbFITlbT exhibition5, activities and live progFramine. Income is generated through a cafe, bar and Shop, ticket 5ale5 to the tower exhibition, regulaT PTivate hire5 and the recent return of live events a5 we rebuild a post pandeinic evening economy. Following a 7 year development pioject GHT launched in October 2019 and live months later was forced to close due to the pandemic. Thiough Laieful linanLial managemei)t, an organisational iestiuctuie and eineigency funding we survived. GHT ieopened in June 2021 on a ieduLed houts maximum impact m(xlel, with activities foLused on a 3-day week (Friday to Sunday) mitigating tsveThead risks as audiences iebuild. Page 3

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 RIPE- ripe$outh&mtpn.¢o.uk RIPE ig designed to retain artistic talent edu¢ated at both of our local partner universities {Solent and Southampton), it is achieving this and demonstrating far more potential than originally envisaged. The seasonal programme of events and exhibitions across three character properties with gallery spaces and artist studios gupports an annual cohort of new graduates, after which the is an option for them to join the ZEST Collective a growing artist community based in the road. The Project is CUl￿ra1[Y reanimating Old Northam Road IONRI a neglected part of the city centre and there %ignificant room and an appetite from the Organi￿ation and partllers to %ustainably grow the project further. A 10 year visiot] to create a new independent arti%t quarter in ONR emerging, a vi.%ion included in Southampton's UK City of Cill￿re bid and on¢ of the legacy projects that could now be taken fonvard. Arches- aspacearts.org.uk15tlldioslarches-5tudios The Arches Studios provide an affordable, 5UPPOrtive and creative enviTonment and 15 horne to 21 visual artists. The Studio re5idet]ts work across a wide range mediurn and PTactlCe5 including painting, sculpture and ceramics along with Social engabFed PTactice5 and actlVj51ti. Resident5 are offered an all-inclusive package and 24-7 site access whicli allow5 the artist5 to focu5 011 theiT practice, flourish, and be part ol. a vibraiit creative cominuiiity within the city. A higlili¥ht of the local arts calendar is the ArLhtS an open btudios event which each 5ummet offers the pubic free workshops, demonstratitsns. exhibitions and events over the course weekend. Artlst Resources- #spaecarts.or2.uklartist-development Artist development is the gvldtn thitad tunning tliiou¥h oui work from inception tts the piesent day and through all of the propenies we inhabit from Victorian railway arch to Medieval monument. In 2018, with the support of ACE NPO funding we increased our support for visual artists ihrough the creation a rnulti-strand Artist Development Plan. Highlights from ihe current artist development programme consist of.. -One-to-One meetings with a focus on develop funding applications and project proposals. -Artist Peer Neiworks to grow artist neiworks and supportive groups in the city. -Artists Voices events, talks and discussions to share experiences and best practice. -Turning Point to support artists make new work through a micro-bursary. -Artist Resources handbook a regularly ll￿dated publication to signpost exhibition, funding and development opportunities for visual artists. Page 4

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 FINANCIAL REVIEW Financial perform&n¢e And positio The charity has been generously supported by grant funding in the period, enabling the completion of the refurbishment of God's House Tower and continued support for the Charity's other projects. As mentioned earlier in this report, the charity has been impacted by the Covid-19 pandemic which led to a loss of income from its charitable activities and a period of time where G(MJ's House Tower was closed, however grant funders stepped in to bridge the gap alld strengthen the charity'.% ￿nd￿. Total held by the charity at the end of the reporting period were £1,838,49112021.. £1,909,610) of which £40,745 (2021.. £nil) represented restricted funds not available for general purpo.%e% ofthe charity. The charity's free reserve% at the end of the reporting period are.. Total reserve5 Less.. Restricted re5etves Less.. De5igFnated re5etves Less.. Catryin¥ amount tsf functional assets 1.833,792 140,7461 159,9621 1,407,476) Free reserves 325 608 Included within the free reserve5 figure above, £256,718 is held within our bank deposit account. £68,890 ren￿l￿S as uniestricted lunds held by the Chaiity. The ieberves policy (below) states the charity aspiies to hold 6 moi)ths' operational costs, which ale expected tts be £275.000150% 01.£550,0001 for 2022-23. Therefore adequate reserveb held, in line with the reserves policy. Resetryes polley A level of general reserves is required to cover temporary cash shortfalls, for example if the charity is awaiting its nexi grant instalment. The charity aspires to hold six months, worth of annual operating costs (staff and all overheads) in reserve, as this will enable day to day running costs to be covered in the event of such a shortfall. Trustees have also chosen to designate a reseriwe for the God's House Tower future maintenance reserve (the God's House Tower Sinking Fund). As responsible custodians of a scheduled ancient monument the charity aims to retain £4,690 per year towards the future Management and Maintenance Costs of the building with a target of £117,250 over the 25-year temi of the lease. Every 12 months, the Trustees will review this policy to ascertain if the level of reserves being held by the charity are appropriate and aligned the to the operational costs (staff and all overheads) of the financial year ahead. STRUCTURE, GOVEILNANCE AND MANAGEMENT Governing document The charity is controlled by its governing dociiment, a deed of trust, and const]￿teS a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 5

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A COMPANY LIMITED BY GUARANTEE)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

The charity may by ordinary resolution:

Appoint a person who is willing to act to be a Trustee; and determine the rotation in which any additional Trustees are to retire.

No person other than a Trustee retiring by rotation may be appointed a Trustee at any general meeting unless:

(1) he or she is recommended for re-election by the Trustees; or

(2) not less than fourteen nor more than thirty-five clear days before the date of the meeting, the charity is given a notice that:

(a) is signed by a member entitled to vote at the meeting;

(b) states the member's intention to propose the appointment of a person as a Trustee;

(c) contains the details that, if the person were to be appointed, the charity would have to file at Companies House; and

(d) is signed by the person who is to be proposed to show his or her willingness to be appointed.

All members who are entitled to receive notice of a general meeting must be given not less than seven nor more than twenty-eight clear days' notice of any resolution to be put to the meeting to appoint a Trustee other than a Trustee who is to retire by rotation.

The Trustees may appoint a person who is willing to act to be a Trustee.

A Trustee appointed by a resolution of the other Trustees must retire at the next annual general meeting and must not be taken into account in determining the Trustees who are to retire by rotation.

The appointment of a Trustee, whether by the charity in general meeting or by the other Trustees, must not cause the number of Trustees to exceed any number fixed as the maximum number of Trustees.

Workforce

Board members

Our current board consists of:

Staff team

Our current staff team currently consists of:

Page 6

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022 REFERENCE AND ADMINISTRATIVE DETAILS Registered Compan}. number 07007198 (England and Wales) Registered Charity number 1136495 Registered office Tower House Town Quay Road Southampton Hamp%hire S014 2NY Independent Ex#miTher Michaela Johns FCCA Hopper Williams & Bell Limited Chartered Accountants Hi¥hland House Mayflvwei Close Chan(Il¢r's Ford Hampbhiie S053 4AR Bankers HSBL". Bank PIC 55 Above Bar Street Souihampton Hampshire S0147DZ This report h&$ been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trnstees on . 2310812022 and signed on its behalf by.. M5 M J Scott- Trustee Page 7

+U)EPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF A SPACE: GROWING CREATIVE COMMUNITIES LTD (A COMPANY LIMITED BY GUARANTEE) Independent exgminer's report to the trustees ofA Space: Groiving Creative Communities Ltd (A company limited by gu8rantee) ('the Company,) I report to the ckwity iTUStees on my examination of the accoullts of the Company fw the year ended 31 March 2022. Responsibilitles and basis of repoyt As the charity's trustees of the Company (and also its diLeCtors for the PUTposes of company law) you are responsible for tl)e preparation of the accouttts in accordance with the requirements of the compa￿1￿ Act 2006 ('the 2006 Act). Having satisfied myself that the accounts of the Company are not required to be audited undth, Part 16 of the 2006 Act and are eligible for independent examinatio￿ I reEx)it in respect of my examination of your chayity's aecounts as canied out under section 145 of the Chai"ities Aet 2011 {'the 2011 Act'l. In carrying out my examination I hav¢ followed tILe Directions given by the Ch￿'Ity Commission undei section 145(5) (b) of the 201 I Aet. Independent examlller's statement Sinee your chaiity's gross income exceeded £250,(K)O your examiner must be a member of 2 listed Ix)dy. l ean confirnj that I am qU￿l[led tts undertake th¢ ex2tllination becau8¢ 1 am a registered member tsf FCCA which is one of the listed bodieA. I havecompleted myexamination. I confirn) thatno matt￿8 have come to my att¢ntion inconncdion with the examination givillg me cause to believe.. 8¢¢ounting Tecords were notkept ill r¢sp¢¢t of the Company as r¢quired by s¢¢ti0tt 386 of the 2006 Ad" or the aceounts do not accfJrdwEth thosc i'ccord*- or llie accounts da not comply with the accounting rcquii'cmcnL% of scction 396 of thc 2006 Act othcr than any r¢quircmcnt t[￿t thc accaunts givc a trnc and fair vicwwhich is not a mattcr considered part of an indepcndent examination. or the LceountA h&ve not been PiEpared in ac¢￿'dance with the methods attd piincipl￿ of the Stalement of Recommcndcd Practicc for accountittg and reporting by Ch￿itiCI (appliclble to charitic$ prcparing thcir accounts in accordance with the Financial Reporting Stsndard applicable in ihe UK and R¢public of Ir¢land (FRS 102)). I have no concerns and havc come across no othcr mattcrs in conncction with thc cxaminatioD to which attention should be drawts in this r¢p)Lt in order to ¢nibl¢ aprop•' ￿t￿¢rStand1llg of the a¢¢ounts to be i'ea¢hed. Mi¢haela Johns FCCA Hopper Williams & Bell Limited Chartcrcd Accountant8 Highl8nd House Mayflower Close Chandlcls Ford Ea8tlcigh H￿ps￿lLE S053 4AR Date.. Page 8

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022 2022 Tot91 funds 2021 Total funds Unrestricted funds Restricted funds Notes INCOP+qE AND ENDOWMENTS FROM Charitable ficti￿111¢$ Supporting artists in Southampton 146,974 132,127 279,101 563,302 Other trading activities Inve%tment incom¢ 179,043 73 19,986 199,029 73 68,399 45 Total 326,090 152,113 478,203 631,746 EXPENDITURE ON Raising funds 21,537 8,1118 29,645 6,390 Charitable activities Supporting artist% in Southampton 421,116 103,260 524,376 419,054 Total 442,653 111,368 554,021 425,444 LYET INCOMEI(EXPELNDITURE) (116,563) 40,745 (75,818) 206.302 RECONCILIATION OF FULYDS Total funds brought forwArd 1,909,610 1,909,610 1,703,308 TOTAL FUNDS CARRIED FORWARD 1.793,047 40,745 1.833,792 1,909.610 The notes form part of these financial statements Page 9

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) BALANCE SHEET 31 MARCH 2022 2022 Tot91 funds 2021 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets .398,278 9.198 ,407.476 1,516,708 CURRENT ASSETS Debtor Ca%h at bank 10 17,560 395716 17,560 27,174 376633 413,276 31.547 444,823 403,807 CREDITORS Amounts falling duc within onc ycar {18,$08) {18,$07) (10,905) NET CURRENT ASSETS 394,768 31,548 426,316 392,902 TOTAL ASSETS LESS CURRENT LIABILITIES 1,793,046 40,746 1,833,792 1,909.610 NET ASSETS 1793,046 40,746 1833,792 1,909,610 FUNDS Uniestiicted I'unds Resiricted funds 12 1,793.046 40.746 1,909,610 TOTAL FUNDS * 1,833,792 1,909,610 * The totulfund5 of£l.833, 792 includes ihc amount of£l,407,470 which represent5 the capital cxpeiise5 of refvrbishing Gud 5 H0115e Tuwer. am(Juni ihut 15 bving d¥pi-vc'iuled iherefure no¢fundJ hvld by ihe Lhurity. The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statemenis for ihe year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companie8 A¢t 2006 and prepaTing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otheThvise comply with the Tequirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) The notes form part of these financial statements Page 10 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) BALANCE SHEET- continued 31 MARCH 2022 These financial statements have been prepared in accordance with the provisions applicable to chariiable companies subject to the small companies regime. The financial staternents were approved by the Board of Trustees and authorised for issue on . and were signed on lis behalf by.. 1910812022 3c*t M% M J Scott- Trn%tee Mr D Phillips- Trustee The notes form part of these financial statements Pagell

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitsble company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'A¢counting 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 Repiiblic of Ircland IFRS 102) leffeetive l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Compallies Act 2006. The fit]ancial statements have been prepared ut]der the historical co%t convention. Going Concern The directors hap'e considered the impact and risk on the compally of COVID-19 and the company'% pro8pect%, recobTlli5ing the high debTree of iincertainty. The directors have concluded that witli the rigTht management action5 the company is a bTOlllbT conceTn for at least 12 months followinb the signature of the financial statements. AccordinbFly the directOTS have prepared the financial statetnent5 on thi5 basi5. Income All income ib recognised in the Statement of Financial Activitieb once the charity hab entitlement to the funds, it is piobable that the income will be received and the amount can be measured reliably. Government grants Ti)e following government grants have been received during the year". Coronavirus Job Retention Scheme.. the accrual model has been used to recognise the grant on a systematic basis over the periods in which the related staff costs are incurred. Business Support Grant Funds.. the accrual model has been used to recognise the grant when it is received or becomes receivable. as there are no future related costs or perfomance conditions. Expenditure Liabiliti¢s are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be mcasured reliably. Expenditure is accounted for on an accruals basis and has been classified undcr headings that aggr¢gate all cost related to the category. Where costs cannot be directly attributed to particular heading￿ they have been allocated to activities on a basis con%istent with the use of resources. Tangible fixed a55et5 Dcprcciation 15 provided at the following annual rates in order to write off each asset over its estimated useful life. Short leasehold Fixture5 and fittingFs Cotnputer equipment Over the lenbFtli of the lease 15 % ReducinbT balance Straight line over 4 yeaTS Taxation The charity is exernpt from corporation tax on its chaTitable activitie5. Fund aeeountlng Unrestricted funds can be used in acctsrdance with the charitable objectives at the discietion of the trustees. Restiicted funds can only be used foi particular iestiicted putposes within the objects of the charity. Restrictions arise when specified by the doi)or or when fui)ds ale iaised lor particular rebliiLted PUTposes. Page 12 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES- continued Fund xccounting The Designated God's House Tower Sinking Fund is to be used for the refvrbishment of God's House Tower as and when it is needed. The Charity endeavours to increase this fund by £4,690 each year. Further explanation of the nature and purpose of each fund is included in the note% to the financial ststements. Pension costs and other post-retirement benefits Thc charitablc company operate% a dcfincd contribution pen%ion.%cheme. Contribution% payable to the charitabl¢ company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. OTHER TRADING ACTIVITIES 2022 2021 Café Incotne Venue hire Adinisbions Public Aits. Project Management fees Studio relit received Otlier receipts 37,160 20,373 5,454 1,570 2,776 866 25.334 23.910 13.943 31,963 84,094 199 029 Included within other income is a tax refund from HMRC totalling £80,(H)O relating to Museuinb and Galleries Exhibition Tax Relief for the claim cornpleted for the year ended 31 March 2020. INVESTMENT INCOME 2022 2021 Interest receivable 73 45 INCOME FROM CHARITABLE ACTIVITIES 2022 2021 Activity Supporting artists in Southampton Grants Coronavirus Job Retention Scheme grant 279,101 516,711 Supporting artists in Southampton 279,101 563,302 Page 13 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM CHARITABLE ACTIVITIES- continued During Ihe year, the following grants were recognised after accounting for any defe￿ed income adjustments:_ Grant5 2022 2021 Arts Council England Ongoing Emergency respon%e Icovidl Cultiiral recovery grant Ongoing 2021 Covid giant Sinall business grant and Retail, hospitslity and leisure wnt Covid CoTe costs RIPE Project RIPE Project Meeting Point Programme BuTsary 101,840 101,840 25,490 216,930 36,090 17,600 Esmée Fairbairn Foundation 13,334 Southampton City Collncil 30,0(K) 800 30,000 7.500 2.000 11,000 1.000 Garfield Weston Foundation Solent University Winchestei School of Art Arts & Heritage CIC The Natiuiial Trust Grants (Refurblshment- Gods House ToTrver) National Loitery Heritage Fund Barker Mill Foundation 111.627 25.661 30.000 279,101 516,711 NET INCOMEI(EXPENDITURE) Net incomel{expenditurel is stated after chargingl(creditingl'. 2022 2021 Independent Examiner remuneration Depreciation - owned assets 2,520 118430 2,400 67,846 TRUSTEES, REMUNERATION AND BENEFITS There were no trnstees, remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 MaTch 2021. 3 t￿Stee5 were paid expenses duringF the year ended 31 March 202212021.. 1). Trllstees, expenses 2022 2021 Tru5tee5' expense5 149 55 Page 14 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 STAFF COSTS 21122 2021 Wages and salaries Social security costs Other pension costs 215,230 12,557 199,291 14.656 3,670 231.749 217.617 The average monthly number of employees during the year was as follows.. 2022 Is 2021 10 Employees Page 15 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Charitable actii'itie5 Supporting artist% in Southampton 471,551 91,751 563,302 Other trading activities Inve%tment income 68,399 45 68,399 45 Total 539,995 91.751 631,746 EXPENDITURE ON Rai%ing fund 6,390 6,390 Charitable activitie5 Supporting arti8t% in Southampton 382,9 36,090 419,054 Total 389,354 36,090 425,444 NET INCOME 150,641 55.661 206.302 Tronsfers between funds 55,661 55.661) Net movement In funds 206.302 206,302 RECONCILIATION OF FUNDS Total funds brought forward 1.703,308 1,703.308 TOTAL FUNDS CARRIED FORWARD 1909,610 1,909,610 Page 16 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 TANGIBLE FIXED ASSETS Fixtures and fittings Short leasehold Computer equipment Totsls COST At l April 2021 Additions I J7S,S71 23,833 191,605 1,591,009 At 31 March 2022 75.571 196714 1.600,207 DEPRECIA TION At l April 2021 Charge for year 32.807 66.684 6.988 3.135 34,506 48,611 74,301 118,430 At 31 MaTch 2022 192 731 NET BOOK VALUE At 31 MaTch 2022 113597 1407 476 At 31 MaTch 2021 1,342 764 157099 1516708 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade debtors VAT Prepayrnents and accrued income 17.560 5,481 21,693 17.560 27,174 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Trade creditors Social swurity and oth¢r taxes VAT Other ¢r¢ditors Accrnals and d¢f¢rr¢d income 8.262 9,347 898 1,003 10,905 Page 17 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 12. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 1.4.21 At31.3.22 Unrestricted funds General fund God's House Tower Sinking Fund 1,1154,338 (116,S64} (4,690) 1,733,084 1,909.610 (116.564) 1.793.046 Restricted funds God's House Tower Refurbishment Meeting Point Project RIPE Projcct Public Art Projcct8 18,843 5,500 4,959 18,843 5.500 4,959 40.746 411.746 TOTAL FUNDS ° 1,909.610 75.818) 1.833 792 * The tululfundts uf£'l.833. 792 includes th¥ uf£l.407.476 wki¢h r¥pr¥serylJ' Ihe ¢upitul vipenses (pf refurbishiFig G(Jd s Huuse Tuwer. uppi(Juni ihu¢ is bvivg d¥pr¥¢iuled iherefvre nu¢funds hvld by ihe £.hurity. Net movement in funds. included in the above are as follows.. Incoming r¢sourc¢s Rcsour¢¢s ¢xp¢ndcd Mov¢mcnt in funds Unrestricted fund5 G¢n¢ral fund 326,090 1442,654) (116,564} Restricted funds God's House Tower Refurbishment Meeting Point Project RIPE Project Public Art Projects 111,626 11,000 9,S02 (92,783) (S,SOO) (4,543) 18,843 S,SOO 4,959 152 113 67 TOTAL FUNDS 478.203 554.021) 75,818) Page 18 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 12. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds Transfers between At 1.4.20 At31.3.21 Unrestricted fund5 General fund God's House Tower Sinking Fund 1,703,308 150,641 389 1,854,338 1,703,308 150,641 55,661 1,909,610 Restricted fllnd5 God's Housc Towcr Rcfurbi8hmcnt 55,661 (55,661) TOTAL FUNDS 1,703.308 206,302 1,909,610 Comparativc nct movcmcnt in funds, includcd in thc abovc arc as follow8.. Jncoming rc%ourcc8 Rc%ourcc8 cxpcndcd Movcmcnt in funds Unrestricted fuThd5 GeneTal fund 539,995 1389,354} 150,641 Restricted funds God's House Tower Refurbishinent Esinée FaiTbairn Foundation Fund 55,661 36,090 55,661 36,090) TOTAL FUNDS 631 746 425 444) 206 302 God's House Tower Re￿rbishment - This ￿nd represents grant5 received from the National Heritage Lottery Fund, Southampton City Council and the BarkeT Mill Fouiidation for the refuTbishment and fit out of God'5 House Tower. Further costs for the God's House Tower project have been fullded from general funds. Esmée FairbaiTn Foundation Fund- This fund represents monies donated by the Esmée Fairbairn Foundation for a ProgTamine Manager and participation programme costs for the redeveloped God's House ToweT for 2021. God's House Tower Sinkin¥ Fund - This fund repiesents monie5 set aside for tlie future upkeep ￿￿intenance of God's House Tower. A tran5fei of £55,272 was M￿dE from ¥Feneral funds to set up the fund in 2021. Thib is a transfer of the value of ab5et5 £￿p]￿lISed foi which restricted iiicome was ieceived. but once the assets aTe puichased tliey ￿re aN'ail&ble for use by the ch￿ty und are iiot thtrnselves iestiicted. Transler between reserves- A transfer to the God's House Tower Sinking Fund from the General fund of £4,690 was made in 202212021". £55,661). Meeting Point Programme This fund represents grants received from Arts & Heritage CIC for the specific Programme which is to commission an artist. Page 19 continued...

A SPACE: GROWING CREATIVE COMMUNITIES LTD (A cO￿1PANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2022 12. MOVEMENT IN FUNDS- continued RIPE Project- This fund represents grants received from Solent University and Winchester School of Art for the specifjc Project. New Wave Project- This fund represents grants received from The National Twst for the specific Project. Public Art Project% - This fund represents a management fee received from Stonewater for the.%pecific Projects. 13. RELATED PARTY DISCLOSURES There were no related party tran%action% for the year ended 31 March 202212021.. None). 14. MEMBERS, LIABILITY The liability of each member. in the event of winding up, is limited to £1 each. There were 9 members at 31 March 2022 (2021.. 9). Page 20