Registered Nuinber.. 07007198
Charity Registration Number.. 1136495
o space
A SPACE..
GROWING CREA TIVE COMMUNITIES L TD
(A company limited byguarantee)
ANNUAL REPORTAND
UNAUDITED FINANCIAL STA TEMENTS
FOR THE YEAR ENDED
31" MARCH 2024
Registered Office Address..
God's House Tower,
Town Quay Road,
Southampton, England,
SO142NY

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
Table of Contents
Reference and Administrative Details.........................................................
Chair's Statement.
Trustees Report.
Accountants Report...............................
.17
Independent Examiner's Report....................................................................................18
Statement of Financial Activities...................................................................................20
Balance Sheet...............................,..
.22
Notes to the FinanciaL Statements
.24

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
Reference and Administrative Details
Chair
Annie Reilly
Marilyn Scott (resigned 31. March 2024}
Deputy Chair
Sophia Mirchandani
Treasurer
Trustees
Zoe Grant
Dan Matthews
Victoria Orba
Henry Pavey (appointed 29" February 2024)
Helen Keall (appointed 26" March 2024)
th
Michelle Kirwan {appointed 4 March 2024}
Chief executive officer
Daniel Crow
Principal Office
God's House Tower
Town Quay Road
Southampton
S014 2NY
Company Registration Number
07007198
Charity Registration Number
1136495
Accountants
Cloud Eleven Accountants
Palamos House,
66-67 High Street.
Lymington,
Hampshire,
S0419AL
Independent Examiners
Tee Accounts TIA On The Spot
RosehiLI House,
PL26 7BA

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
CHAIR'S STATEMENT
FOR THE YEAR ENDED 31" MARCH 2024
The chair presents her statement for the year.
This has been a year of many successes for'a space. In addition to ourfunding from Arts
Council England and Southampton Forward we were delighted to receive a grant from National
Lottery Heritage Fund. Given the current economic cLimate and the highly competitive
fundraising context, this tripartite core funding provides an essential core of financial stability.
We are very grateful to them all fortheir ongoing support.
This was also the firstyear of implementing our Business Plan. The team have worked smartly
and seen promising results in most areas. The cultural programme continues to be an
exemplar of artistic quality for audiences and comprehensive support for artists. From a
stunning immersive exhibition by Bihjan Moosavi and a programme of Lates at God's House
Tower, to the Lucky Dip bursary and regular artist one-to-ones with relevant practitioners, the
organisation continued to serve audiences and artists with a rich variety of activity across the
year.
It is important to note. despite these accomplishments, there have been challenges. The
externalworLd remains unsettled, with the economy and global events impacting prices,
disposable income and our ability to fundraise. Moreover, any first year of a business plan
comes with a degree of uncertainty and requires new ways of working. The team have
responded to these challenges creatively, demonstrating great agiLity and resilience, balancing
efficiency and financial resiLience with our core artistic mission.
Behind the scenes. we said a grateful farewell to chair Marilyn Scott and welcomed three new
trustees as well as a new deputy and chair. The staff developed and implemented three action
plans which articulate our social responsibilities around race equity, access and the climate
emergency.
On behalf of myfellow trustees, I must pay tribute to Dan Crow and the team. Their hard work.
dedication, pragmatism and creativity have ensured that'a space, has continued to be a
respected, valued and vibrant organisation, playing a key role in our city's cultural life. We are
full of gratitude and admiration for whatthey do and how they do it and we look forward to
another year of excellent and dynamic activity.
fi LLI
Annie Reilly{Chair)
Date:

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31" MARCH 2024
The Trustees presenttheir annual reporttogetherwith the financial statements of A Space:
Growing Creative Communities Ltd for the year ended 31 March 2024. The trustees have
adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended
Practice applicabLe to charities preparingthe accounts in accordance with the Financial
Reportingstandard applicable in the UK and Republic of Ireland IFRS 1021 (Effective 1 January
2019).
Since the Charitable Company qualifies as small under section 382 of the Companies Act
2006, the strategic report required of medium and large companies underthe Companies Act
2006 Istrategic Report and Directors, Report) Regulations 2013 has been omitted.
The CEO'S statement:
The year up to March 2024 represented year one of a newthree-year business plan designed to
increase earned income and develop the business model of our major projects: Gods House
Tower (GHT} and the Arches. We are very pleased with the progress we've made to date whilst
also recognisingwe still have workto do. after some difficult post-pandemic years itfeels good
to be on the frontfoot and building momentum.
In 2023124we expanded commercial activities at our award-winning flagship venue GHT.
primarily by increasing the amount of private hires alongwith introducingwedding ceremonies
and receptions. Income also built from regular daytime cafelbar trade, alongwith an evening
economy built around music, live events and extended exhibition openings. In 2024125 we will
pursue the potential of these activities and continue to build income and momentum.
Striking the right baLance between culturaL and commercial has been an important point for
the organisation and is an ethos we will take into future planning. 2023124 was an important
year in ourdrive to create a more sustainable organisation which we are delivering on whilst
also staging a high-quality, relevant and excitingcuLtural programme; in fact one of the
strongest programmes in recent years.
There are too many cuLturaL programme highLights to list but a selection of headlines wouLd
include. GHT Launched our Art for Climate Action programme headlined by Bijan Moosavi's
exhibition GHT 2058, followed bythe fantastic exhibition Fetissoes by KialyTihngangfor Black
History Month. The Arches studios welcomed new residents and hosted the busiest Arches
Open Studios weekend to date, RIPE grew and retained more talentwithin the city and saw a
successful 6th season, whiLst our Artist Resources work evolved and connected experienced
arts professionals from outside the citywith Southampton based artists.

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
We are grateful and would like to thank our core funders fortheirsupportfor ourwork, our
team, our programme and business development; thank you Arts Council England, National
Lottery Heritage Fund and Southampton Forward.
Ourteam also evolved across the year. At board Level, we welcomed our new Chair and Deputy
alongwith three new trustees who collectively bring their time, skiLLs and experiences to the
top of the organisation. The staff team also developed with additionaLfreeLance capacity to
support our creative team and the evolution of the GHT managementteam structure.
As we look back on the year the organisation feels very proud ofthe exhibitions and events we
have staged, and the new ways we are developingthe business... we have a lot more to do.
more to offer artists, our audiences and the city.. excitingtimes lay ahead.
Background and Founding Projects
Established in 2000 with an ethos of 'by artists for8rtists'. the organisation retains an
enterprising approach to delivering a project portfolio that meets our aim to supportvisual
artists and inspire audier.ces. The organisation has grown since our Chief Executive and
founder, DanieL Crow, initiated'a space'arts after graduatingwith a Fine Art degree and was
motivated to support emerging artists in Southampton. Since the first gallery in 2002, the
organisation has grown incrementally and strategicaLLy across multiple projects, culturally
reanimating several buildings in Southampton, becominga registered charity and an Arts
Council England {ACEI NationaL Portfolio Organisation {NPOI.
Ourfoundation projects (2002- 20121 began with a £500 grant from Hampshire County
Councilto open ourfirst gallery space on OLd Northam Road following a period of pop-up
exhibitions and temporary studios across the city.
In 2004 our work to culturally reanimate heritage sites was initiated with the innovative project
ArtVauLts. This utilised 12 medievalvaults around Southampton's Old Town as exhibitions and
performance spaces to create a free public trail. This seminal project informed us of the
powerful combination of arts and heritage, and opened up a new pathwayfor our growta and
development.
The Arches studios was established in 2005 with the support of SCC and SEEDA and continues
to this day. The project grewfrom one initiaL arch and 7 studios, to utiLise 4 arches and offer
studios to 21 artists alongwith an open plan project space. This seminal project established a
solid working partnership with the Ioc81 authority and evolved our mission to begin providing
affordable studio spaces alongside offering exhibition opportunities.
From 2006 and 2012 the Bargate Monument GalLery on the first floorof the Bargate {the former
medieval gateway to the Old Town) in the heart of the city centre was our flagship venue. This
important chapter in our history raised our profile, broadened our experience, offered artists a
high-profile exhibition space and expanded our audiences.

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
These early years included important steps of organisation development including receiving
ourfirst major grant from the Esmée Fairbairn Foundation. our first ACE grant, along with
becoming a charity and formalising a board of trustees; todays organisation is built upon these
solid foundations.
Objectives and activities
a. Policies and objectives
The charity's formaL objective is-
To promote. maintain, improve and advance education of the arts forthe benefit of the
public, by developing public appreciation and understanding of visual arts and by
improving access to, and the quality of the visual arts, primariLy but not exclusively in
Southampton and its surrounding area.
In setting objectives and planning for activities, the Trustees have given due consideration to
general guidance published by the Charity Commission relating to public benefit, includingthe
guidance'PubLic benefit: running a charity {PB2)'.
b. Projects and Cultural Highlights
God's House Tower (GHTI is our award winning, flagship venue that hosts a changing
programme of exhibitions and activities showcasing artistic talent and marginalised stories.
Across the year GHT presented a fantastic exhibitions programme that entertained, inspired
and intrigued our audiences.
Highlights from across year included:
An International Women's Day exhibition featuring 100 works presented bywomen
artists alL available for sale through a silent auction with proceeds divided between the
artists and YeLLow Door {a local charity supportingwomen),
The launch of ourArtfor Climate Action programme with the major solo exhibition GHT
2058 by Bijan Moosavi who transformed GHT into a futuristic dystopian climate refugee
centre.
Climate Action Community projects with exhibitions and events by Harry Meadows,
Lizzie Jones and Puppet Back Up showing how art can be a form of powerful peacefuL
activism.
The third Lucky Dip exhibition where 10 artists were drawn at random and bursaries
awarded to make new work and therefore removing barriers for artists appLying for
exhibitions.

A SPACE: GROWING CREATIVE COMMUNITIES LTD
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Fetisseos by KiaLyTihngang presented a fabulated history where enslaved Africans
return home protected by ritualistic imagined'suits..
Present Tense featuringthe work of four artists, Alec Stevens, Carrie Mason, Joshua
Raffell and Suna Imrewho exhibited newworks following the award of a Turning Point
bursary.
GHT attracts a broad audience from across the region and is becoming a well-loved cultural
landmark in Southampton's Old Town. A live events programme of music, led bythe monthly
GHT Lates nights alongside regular film screenings offer a programme that caters for a range of
tastes. Lates has developed across the year and features three musical acts, street food and
access all areas to GHT allowingthe pubic to see the exhibitions by night and access the
rooftop to star gaze and enjoyviews across the old town at night. GHT also offers a welcoming
cafe and bar with a fantastic menu from Local providers, alongside a shop offering bespoke
products by some of the city's leading artists
GHT hosts a permanent exhibition 'Stories Behind Tb,e Stones,, that retells its own story and
takes the viewer on a journeythrough time as the public ascend the towerto discover a unique
rooftop view across the Old Town and Southampton waterfront.
The year has also seen a number of business developments at GHT as we build its economy
and expand the commercial offer of this unique venue. GHT is a great place to have parties,
meetings and events and we have hosted a number of private hires across theyear. To build
and broaden GHT'S offer it is now a Licensed weddingvenue and across the year has hosted
ceremonies, weddings and receptions for a number of happy coupLes.
FolLowing the refurbishment and reopening of this ancient monument GHT received a Royal
Institute of British Architecture and SoLent Quality Place awards.
RIPE
Led by'a space, arts in partnership with Solent University (SU) and Winchester School of Art
IWSA), University of Southampton, the RIPE graduate scheme is an ambitious programme of
exhibitions, events and residencies atthe Alfred Arcade, the Hidden W8rdrobe and the Alfred
Arms on Old Northam Road {ONRI. In 2023the RIPE programme increased its reach and
reputation whilst continuingto provide artists and 8udiences a chance to meet and engage
with new artworks and new ideas.
Highlights from across year included:
The fifth anniversary of the RIPE programme was celebrated by an exhibition of short
films made by RIPE artists past and present, screened at God's House Tower, bringing
the RIPE communitytogether, and atthe Hidden Wardrobe to presentthe works to the
public.

ASPACE: GROWING CREATIVE COMMUNITIES LTD
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We hosted the 6th session of RIPE with RIPE Pears supporting a court of 14 artists from
our partner universities across two exhibitions Pears #1 and Pears #2. Across both
shows the cohort staged excellent exhibitions. some developing work and ideas shown
at the degree shows with others making new works - we were very pleased with and
proud of the outcomes.
A RIPE Live event opened each of the exhibitions with aLlthree buildings beingopened
to the public. the Alfred Arcade hostingthe Pears exhibitions, the Alfred Arms hosting
live music and the Hidden Wardrobe showing a new exhibition by a RIPE alumni.
The Hidden Wardrobe programs ran across the year and supported RIPE alumni with
seven artists exhibited in the window bay galleries and talking abouttheir work at public
openings.
We also hosted an additional exhibition by undergraduates from WinchesterSchooLof
Art and their 5-years' time artist collective.
In addition, The ZEST Arts Collective continued to growthis yeartoo. ZEST comprises of RIPE
alumni and artists drawn from across the city, creating a pathway for development after RIPE.
This year, members of ZEST have continued to support the programme by leading critique and
mentoring sessions with the new RIPE cohort. They've also been workingon their own Arts
Council England (ACE) fundingto independently deliver projects and exhibitions.
Arches
The Arches studios provide affordable spaces. a supportive creative environment, an all-
inclusive monthly payment and 2417 access allowing residents to focus on their practice.
Across 21 studios, residents work in a wide variety of mediums including painting, textiles,
scuLpture and ceramics, alongwith socially engaged practices, activism. and much more.
CoLlectively the residents create a vibrant artistic community.
Highlights from across year included:
The annual Open Studios weekend showcases the residents collective talents and
offers the public a chance to see inside the studios alongwith participating in froe
workshops, demonstrations, exhibitions, events and more. The event was attended by
over 500 people overthe weekend- a record for Open Studios.
This program was full of artist-Led activity includingthe artist curated exhibition and
shop. with newworks unveiled, creative ideas tested, workshop and activities delivered
to provide a free and inspiringweekend for alLwho attended.
This years event included an afternoon of live music from Ioc81 musicians 81ongwith
the Southampton Ukulele Jam returningfor a headline Sunday afternoon set. Catering
was provided byThe Butcher's Hook's, serving Local craft beer and soft drinks and

A SPACE: GROWING CREATIVE COMMUNITIES LTD
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Mamas. Kitchen offering Thai street food, along with Partners in Coff ee serving hot
drinks and snacks.
Testing Space offered free use of Arch 4 to residents and non-resident artists
throughoutthe year and the opportunityto test projects and ideas, etc. Testing Space
users were able to use the space for up to 2 weeks at a time for private experimental
works orto stage exhibitions with invited peers and the public givingfeedback and
response to assistthe artist in developingtheir ideas.
Making Space offered 4 artists a free 3-month studio residency with the aim of reducing
barriers to accessingstudio space. Barriers are defined broadly and could incLude
difficuLt socio-economic circumstances, cultural barriers or physical access needs.
Across the year-lcng programme each Making Space artist was offered an obligation
free use of Arch 4 and an opportunityto stage an exhibition or event atthe end of the
residency.
Artist Resources
SupportingvisuaL artists is the golden thread that has run through ourworkwith the Artist
Resources programme playinga key roLe delivering this and supporting artists. The
programme continues to evolve. aligned to feedback from artists and the organisation's
resources.
Highlights from across year included:
Artist One-to-one mentoring was delivered across the yearwith a total of 116 free
sessions being offered by our in-house team orthrough a series of GuestArtist Mentors.
Since launching in 2018 a popular elementto the programme has been our mentoring
sessions where artists can discuss any element of their practice or career.
Mentor Mondays- in addition to the regular One-to-one session, Mentor Mondays
brought a series of established artists and arts professionals into contact with artists
from across the SO postcode. Across the year guest artists included Lara Asole, Lisa
Slominski. Rebecca Moss, Taey Lohe, Fatos Ustek, Bijan Moosav and Mark Devereaux.
Artist Led Networks- we were ableto fund and support 4 Artist Led Networks to develop
co-working techniques and deLiver self-led projects. The groups included Throes of
Grief, Critical Exchange, Studios withoutwalls, and People + Place.
Artists Voices- supporting artists from within our GHT exhibitions programme to host a
public online talk alongside invited guest artists and experts to accompany ourArt for
Climate Action Programme with Bijan Moosavi in discussion with Lizzie Jones and Harry
Meadows. alongwith a talk linked to our Black History Commission by KialyTihngang in
discussion with Ebun Sodipo.

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Infographics:
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A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
TRUSTEE'S REPORT (continued)
FOR THE YEAR ENDED 31°, MARCH 2024
The Team
We are grateful for the enthusiasm, expertise and commitment of our team and thankthem for
their dedication in creating and delivering ourwork. thank you. Byworkforce we mean our
team from trustee to volunteer with the current core team consisting of the following
members.
Board
Our current board consists of:
Annie ReiLly- Chair
Sophia Mirchandani- Deputy Chair
Vicki Orba
Zoe Grant
Dan Matthews
Henry Pavey
Helen Keall
Michelle Kirwan
Staff team
Our current staff team consists of..
Daniel Crow-chief Executive
Kalleesha Mendie- Finance Manager
Hanp.ah Preston- GHTVenue Manager
Mia Delve- Curator & Programme Manager
Anam El Yusaf- Communications Manager
EmilyWells- Content Creator
James Hunter- Artist Programmes & Communities Officer
{Freelance role)- Artist Resource Officer
Sam Goodenough- GHT Front of House Manager
We have a dedicated GHT Crew (front of house) who work on the front line of our main public
venue. whilstthey are not all named here. we value and thank them fortheirwork.
10

A SPACE: GROWING CREATIVE COMMUNITIES LTD
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Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the
Charitable Company has adequate resources to continue in operational existence forthe
foreseeable future. Forthis reason, they continue to adopt the going concern basis in
preparing the financial statements. Further details regardingthe adoption of the going concern
basis can be found in the accounting policies.
b. Reserves policy
To meet our obligations as a responsible charity. the Board of Trustees has agreed to set the
reserve requirement to cover 3 months of total operational costs which WILL cover any
temporary cashflow shortfalls. for example, if the charity is awaiting a grant instaLment, or in
the worst-case scenario to coverthe costs associated with the charity havingto wind down. At
31 March 2024, the charity has set aside an operational reserve of £177,898. Atthe end of the
reporting period 3 months of operationaL costs are equivalentto £137,263 and therefore the
current operational resenie is sufficientto cover costs as outlined above.
The operational reserve of £177,898 is made up of funding allocated towards a number of
areas including a future maintenance fund for God's House Tower {GHTI and our other
buildings Ito cover any major internal building repairs), staff costs, and costs towards future
exhibitions that have been committed.
Every 12 months the Trustees will review the reserves policy and financial position to ascertain
if the level of operational reserves held bythe charity IS appropriate and aligned to the
operational costs for the financiaLyear ahead.
c. Financial performance and position
We are pLe8sed with the progress made across the year, and whiLst recognisingwe still have
workto do, the activities of our new business pLan are taking us in the desired direction of
becoming a more sustainable organisation.
2023124 was the first year of a newthree-year business plan with a focus on expanded
commercial activities to increase self-generated income primarily at GHT, baLanced with
delivering an exceLlent cultural programme.
Growth has been led bythe new provision of weddings, ceremonies and receptions at GHT, an
increased number of commercial hires and income from ancillary hospitaLity. Our live music
event series'GHT Lates. and campaigns to increase day-to-day cafe and bar sales through
'Hey Neighbour, (with incentives offered to residents in our nearest two postcode areas) have
grown. Collectively. this has driven up levels of earned income at GHTto £103,175 in 2023124
which is a 23 % increase from 2022123.

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TRUSTEE'S REPORT (continued)
FOR THE YEAR ENDED 31 ' MARCH 2024
Trustees are pleased with the progress made the firstyear of the new business plan and
recognise the steps the staff team have taken to achieve this. The board are monitoring
performance to ascertain where further improvements can be made and supportingthe staff
team to develop the business. We would like to report that the introduction of the new
business plan shows our abilityto pivottowards increased self-generated income through e.g.
wedding ceremonies, demonstrates the organisation's character, resilience and
entrepreneurialism.
The charity made a loss of £134,994 in 2023124 of which £66,677 is attributed to depreciation
of GHT and therefore an underlying loss of £68,318 is recorded. This represents an
improvement on 2022/2J where the charity made a loss of £322,544 lofwhich £108,695 was
depreciation), therefore 2023124 represents a 68% improvement in net income/expenditure on
the year 2022123.
Trustees continue to be vigilant regarding the overall profitlloss of the organisation and are
working alongwith the staff team to ensure we continue improving on this figure aLongwith
meeting our charitable obligations and commitments for the local community,
Culturally. the charity has delivered over 30 exhibitions, deLivered 116 free one-to-one artist
mentoring sessions, and supported a cohort of 14 post-graduates with opportunities to
establish their careers. This has been possibLe through a combination of grantfunding and
commercial income. Our mission as a visual arts organisation is to support and inspire artists,
audiences and communities through an ambitious programme of exhibitions, artist resources,
opportunities, and by culturally reanimating Lost spaces with arts and heritage.
Please see the Projects and Cultural Highlights section. or our Annual Report for further
details.
The table and statement {see next page) gives an overview of the incomelexpenditure in
2023/24 and the fund balances.
12

A SPACE: GROWING CREATIVE COMMUNITIES LTD
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Financial erformance table 2023124
Income:
Grants and Donations
331,498
Charitable activities: SupportingArtists
34,727
Trad ing activities
130,703
Investments
2,638
Total income
499,566
Expenditure:
Raisingfunds: othertrading expenses
85,508
Charitable activities., Supporting Artists
549,053
Total expenditure
634,561
Net incomelexpenditure 2023-24
(134,995}
Breakdown of Net income/expenditure 2023-24..
Unrestricted Loss (68,317)
- Depreciation (restricted non cash movementJ(66,677)
Total funds brought forward from 2022-23
1,504,707
Total funds carried forward into 2024-25
1.369,712
Breakdown of funds:
Restricted funds (tangible assets)
1,136,176
Designated funds
177,898
Unrestricted general funds
55,638
Totalfunds
1,369,712

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by gLiarantee)
TRUSTEE'S REPORT {continued)
FOR THE YEAR ENDED 31°, MARCH 2024
Grantfunding and donations combined make up 66% of the overall income of the charity, as
seen in the financial summaryfor 2023124. Grantfunding provides critical supportfor core
and project costs which enables us to continue providing opportunities for artists, contributes
to our communities, and supports our arts and heritage venues.
GHT Capital Costs - restricted grants
Restricted funds carried forward at the year-end were £1,136,177 (2023 restated figure of
£1,202,854) this is due to the reclassification from designated to restricted funds for the God's
House Towerfunding, which can only be used for restricted and granted purposes.
These restricted funds have been expended in previous years on the refurbishment and
reopening of GHT and therefore are now shown as a restricted grant. GHT is not an assetthat
can be transferred or sold, and the organisation cannot raise funds against it.
The restricted grantfundingwas raised in orderto restore this historic asset and bring it back
into pubLic use. Capital funding is now being amortised in line with depreciation of the asset
and in line with the length of the lease. The charity is the guardian of the asset until the lease
expires.
Unrestricted generalfunds balance atthe end of the year is £55,63912023 £237,201} during
the year £113,246 was transferred from generaL unrestricted funds to designated reserves {as
per above).
Structure, governance and management
a. Constitution
A Space: Growing Creative Communities is registered as a charitable company limited by
guarantee and was set up by a Trust Deed.
b. Methods of appointment or election of Trustees
The management of the Charitable Company is the responsibility of the Trustees who are
eLected and co-opted under the terms of the Trust deed.
The charity may by ordinary resolution:
Appoint a person who is willingto actto be a Trustee: and determine the rotation in which any
additional Trustees are to retire.
14

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
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 bythe 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.
al 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.
cl contains the details that, if the person were to be appointed. the charitywould
have tofile at Companies House. and
dl is signed by the person who is to be proposed to show his or herwiLlingness to
be appointed.
AIL members who are entitled to receive notice of a general meeting mLJSt be given not less
than seven nor more than twenty-eight clear days, notice of any resolution to be put tothe
meeting to appoint a Trustee other than a Trustee who is to retire by rotation.
The Trustees may appoint a person who is willingto act to be a Trustee.
A Trustee appointed by a resolution of the otherTrustees must retire at the next annual general
meeting and must not be taken into account in determiningthe Trustees who are to retire by
rotation.
The appointment of a Trustee, whether by the charity in general meeting or bythe other
Trustees, must not cause the number of Trustees to exceed any numberfixed as the maximum
number of Trustees.
AIL newTrustee appointments are made after careful consideration of the skillset provided by
the newTrustee and howthese may help furtherthe Charitable Company's objectives and
future strategies.
c. Financial risk management
The Trustees have assessed the major risks to which the Charitable Company is exposed, in
particularthose related to the operations and finances of the CharitabLe Company and are
satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Members, liability
The Members of the Charitable Company guarantee to contribute an amount not exceeding £1
to the assets of the Charitable Company in the event of winding up.

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Statement of Trustees, responsibilities
The Trustees (who are also the directors of the Charitable Companyforthe purposes of
company law} are responsible for preparing the Trustees, report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards (United
Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financialyear.
Under company law. the Trustees must not approve the financial statements unless they are
satisfied that they give a true and fairview of the state of affairs of the Charitable Company and
of its incoming resources and appLication of resources, including its income and expenditure,
forthat period.
In preparingthese financial statements, the Trustees are required to:
select suitable accounting policies and then applythem consistently;
observe the methods and principles of the Charities SORP IFRS 102).
make judgments and accounting estimates that are reasonable and prudent:
state whether applicable UK Accounting Standards (FRS 102) have been followed,
subjectto any material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate
to presume thatthe Charitable CompanywiLI continue in business.
The Trustees are responsibLe for keeping adequate accounting records that are sufficientto
show and explain the Charitable Company's transactions and disclose with reasonable
accuracy at anytime the financial position of the Charitable Company and enable them to
ensurethat the financial statements complywith the Companies Act 2006. They are also
responsible for safeguarding the assets ofthe Charitable Company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 28" August 2024 and signed on
their behalf by:
fr kiiLLI
Annie Reilly
16

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
ACCOUNTANT'S REPORT
FOR THE YEAR ENDED 31" MARCH 2024
In order to assistyou to fuLfiLyour duties under the Companies Act 2006, we have prepared for
your approvalthe accounts ofA SPACE: GROWING CREATIVE COMMUNITIES LTD forthe year
ended 31" March 2024 as set out on pages 20 to 22 from the Company's accounting records
and from information and expLanations you have given us.
As a practising memberfirm of the Association of Chartered Certified Accountants, we are
subject to its ethical and other professionaL requirements which are detailed at
https-.I/www.¢iccagiobai.comiukJeniGJOLlI-usireguiaiionirulebooK.fillTII
This report is made solelyto the charity trustees of A SPACE.. GROWING CREATIVE
COMMUNSTIES LTD, as a body, in accordance with the terms of our engagement letter dated
th
24 April 2024 Our work has been undertaken soleLyto prepare for your approvalthe accounts
ofA SPACE: GROWING CREATIVE COMMUNITIES LTD and state those matters thatwe have
agreed to state to the Trustees of A SPACE: GROWING CREATIVE COMMUNITIES LTD as a body
in this report in accordance with the requirements of the Association of Chartered Certified
Accountants as detaiLed at:
-joal/factltl.-16_3-Jan-_2_4.pdf
htt￿..11w￿w.8£Cag1OhaL.C_OM1c0n_teTrtId9mlA_¢_CA_G1Qb311Te¢hrn
To the fullest extent permitted by law, we do not accept or resume responsibilityto anyone
other than A SPACE: GROWING CREATIVE COMMUNITIES LTD and its Board of Trustees as a
bodyfor our workfor this report.
It is your dutyto ensure thatA SPACE: GROWING CREATIVE COMMUNITIES LTD has kept
adequate accounting records and to prepare statutory accounts that give a true and fair view
of the assets, liabilities, financial position and loss of A SPACE: GROWING CREATIVE
COMMUNITIES LTD. You consider that A SPACE: GROWING CREATIVE COMMUNITIES LTD is
exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review ofthe accounts of
A SPACE: GROWING CREATIVE COMMUNITIES LTD. For this reason, we have not verified the
accuracy or completeness ofthe accounting records or information and explanations you
have given to us and we do not, therefore, express any opinion on the statutory accounts.
'wJ I LLIS
Janice Willis FCCA
Cloud Eleven Accountants
Trading name of Eleve11 Consulting Ltd

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31" MARCH 2024
Independent examiner's report to the Trustees of A Space: Growing Creative
Communities Ltd
('the Charitable Company,)
I report to the charity trustees on my examination of the accounts forthe Company for the year
ended 31" March 2024.
Responsibilities and basis of report
As the Trustees of the Charitable Company (and its directors for the purposes of company lawl
you are responsible forthe preparation of the accounts in accordancewith the requirements
of the Companies Act 20061'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 independent examination, I report in respect of my
examination of your charity's accounts as carried out under section 145 of the Charities Act
20111.the 2011 Act'l. In carrying out my examination I have followed the Directions given bythe
Charity Commission under section 145151 Ibl of the 2011 Act.
Independent examiner's statement
Since the Charitable Company's gross income exceeded £250,000 your examiner must be a
member of a body Listed in section 145 of the 2011 Act.
I confirm that l am qualified to undertake the examination because l am a member of The
Institute of Chartered Accountants of England and WaLes IICAEW}, which is one of the listed
bodies.
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
2. the accounts do not accord with those records. or
3. the accounts do not complywith the accounting requirements of section 396 ofthe
2006 Act otherthan any requirement that the accounts give a'true and fair viewwhich
is not a matter considered as part of an independent examination. or
4. the accounts have not been prepared in accordance with the methods and principles of
the Statement of Recommended Practice for accounting and reporting by charities. in
accordance with the FRS 102.
18

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (continued)
FOR THEYEAR ENDED 31"MARCH 2024
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
understandingof the accounts to be reached.
This report is made solelyto the Charitable Company'sTrustees, as a body, in accordance
with Part 4 of the Charities {Accounts and Reports) Regulations 2008. My work has been
undertaken so that I might state to the Charitable Company's Trustees those matters l am
required to state to them in an independent examiner's report and for no other purpose. To the
fullest extent permitted by law. I do not accept or assume responsibilityto anyone other than
the CharitabLe Company and the Charitable Company's Trustees as a body, for my work orfor
this report.
T IS
Teresa Rogers BFP FCA
Director
Tee Accounts Ltd TIA On The Spot
11 ID. I
19

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31" MARCH 2024
Unrestricted
funds
Restricted
funds
Total
2024
Note
Income and
endowments from
Donations and legacies
Charitable activities
Other trading activities
Investment income
108,098
34,727
130,703
2,638
223,400
331.498
34,727
130,703
2,638
Total Income:
276,166
223,400
499,S66
Expenditure on
Raisingfunds
Charitable activities
85,508
375,824
85.508
549.053
173,229
Total Expenditure
461,332
173,229
634.561
Net incomelexpenditure
Transfers between funds
(185,166)
116,848
(68,318)
50,171
1116,8481
(66,677)
(134,995)
Net movement in funds
(134,99S)
Reconciliation of funds
Total funds brought
forward
301,853
1,202,854
1,504.707
Net movement in funds
Total funds carried
forward
{68,318)
{66.677)
{134,995)
233,535
1,136,177
1,369,712
20

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT (continued)}
FOR THE YEAR ENDED 31" MARCH 2024
2023
Unrestricted
funds
2023
Restricted
funds
Total
2023
Prior year
Note
Income and
Endowments from:
Donations and legacies
Cha ritable activities
Other trad ing activities
Investment income
135,820
38,938
141,693
960
39,280
175,100
38,938
141.693
960
Total Income
317,411
39,280
356,691
Expenditure on".
Raisingfunds
Cha ritable Activities
64,738
553,313
64,738
614,497
61,184
Total Expenditure:
618,051
61,184
679,235
Net movement in funds
(300,640)
(21,904)
(322,544)
Reconciliation of funds:
Total funds brought
forward
1,805,347
1300,640)
21,904
(21,9041
1,827,251
(322,5441
Net movement in funds
Total funds carried
forward
1,504,707
1,504,707
The Statement of financial activities includes all gains and losses recognised in
the year.
The notes on pages 24 to 39 form part of these financial statements.
21

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
BALANCE SHEET
ASAT 31" MARCH 2024
2023
restated
2024
Note
FIXED ASSETS
Tangible assets
12
1,172,335
1,172,335
1,298,781
1,298,781
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
2,000
57,218
172,699
231,917
13
50.243
184,096
234,339
CREDITORS: amounts
falling due within one
year
14
134,5401
{28,413)
NETCURRENT ASSETS
Total assets less
current liabilities
197,377
205,926
1,369,712
1,504,707
Net assets excluding
pension asset
Total net assets
1,369,712
1,369,712
1,504,707
1,504,707
Funds of the Charity:
Restricted incomefunds 16
Unrestricted funds:
16
Designated funds
16
-Generalfunds
16
1,136,176
1,202,854
177,898
55,638
64,652
237,201
Totalfunds
TOTAL FUNDS
16
1,369,712
1,369.712
1,504,707
1,504,707
22

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
BALANCE SHEET (continued)
ASAT31 ' MARCH 2024
The Charitable Companywas entitled to exemption from audit under section 477 of the
Companies Act 2006.
The members have not required the companyto obtain an audit forthe year in question in
accordance with section 476 of Companies Act 2006.
The Trustees acknowLedge their responsibilities forcomplyingwith the requirements of the Act
with respectto accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to
entities subjectto the small companies regime.
The financial statements were approved and authorised for issue bythe Trustees on 28
August 2024 and signed on their behaLf by:
th
Annie Reilly
(Chair of Trustees)
The notes on pages 24to 39 form part of these financial statements.
23

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31" MARCH 2024
1. GENERAL INFORMATION
A Space: Growingcreative Communities Ltd is a Charitable Company, Limited by guarantee,
registered in England and Wales. The company's registered office address, registered number
and charity number are shown below:
Registered office address: God's House Tower, Town Quay Road, Southampton. Hampshire,
S0142NY.
Registered number: 07007198
Charity number: 1136495
2. ACCOUNTING POLICIES
Summary of signif icant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are
set out below. These policies have been consistently applied to all the years presented, unless
otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities:
Statement of Recommended Practice applicable to charities preparingtheir accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland {FRS 102) (effective 1 January 20191.
(charities SORP {FRS 102}). They also compLy with the Companies Act 2006 and
Charities Act 2011.
Basis of preparation
ASPACE.. GROWING CREATIVE COMMUNITIES LTD meets the definition of a public benefit
entity under FRS 102. Assets and liabilities are initially recognised at historical cost or
transaction value unLess otherwise stated in the reLevant accounting policy notes.
Going concern
The Directors have reviewed the accounts of the charity and recognize that there is a loss for
the financialyear, and that fundraisingtargets have not materialized. However. they have
approved a new business plan to address these issues and are also satisfied thatthe debtors
total is more than creditors. As such, the Directors consider the charity a going concern and
have prepared the accounts on this basis.
24

A SPACE: GROWING CREATIVE COMMUNITIES LTD
{A company limited by guarantee)
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probabLe that the
income will be received, and the amount of the income receivable can be measured reliabLy.
Donations and legacies
The term Donations and Legacies is an overall SORP requirementwhich also recognises grants
within this classification. Grants are our primary source of income from within the broader
SORP definition and accounted for 66¥0 of aLI income received in 2023124 {49 % in 2022123). Of
the grant income received in 2023124, 680/0 was restricted and 320/0 was unrestricted. The
unrestricted grant was Arts Council England's National Portfolio Organisations (ACE NPO}
funding which requires regular reporting and is aligned to pre-agreed outcomes with ACE and
is monitored by an assigned ACE relationship manager. As such money is received quarterly
upon receipt of satisfactory reporting documents bythe ACE relationship manager.
Donations are recognised when the charity has been notified in writing of both the amount and
settlement date. In the eventthat a donation is subjectto conditions that require a Level of
performance by the charity before the charity is entitled to thefunds. the income is deferred
and not recognised until eitherthose conditions are fuLly met or the fulfilment of those
conditions is wholly within the control of the charity and it is prob8ble thatthese conditions
will be fulfilled in the reporting period.
Legacies- The charity has no legacies to date.
Grants receivable
Grants are recognised when the charity has an entitLement to the funds and any conditions
linked to the grants have been met.
Where performance conditions are attached to the grant and are yet to be met, the income is
recognised as a liability and included on the balance sheet as deferred income to be released.
Government Grants
Government grants are recognised underthe accrual modeL meaningthat grants relatingto
revenue shall be recognised in income on a systematic basis over the periods in which the
charity recognises the related costs forwhich the grant is intended to compensate.
Expenditure
AIL expenditure is recognised once there is a legal or constructive obLigation to that
expenditure, it is probabLe settlement is required and the amount can be measured reliably.
AIL costs are allocated to the applicabLe expenditure headingthat aggregate similar costs to
that category. Where costs cannot be directLy attributed to particular headings, they have
been allocated on a basis consistent with the use of resources, with central staff costs
allocated on the basis oftime spent, and depreciation charges allocated on the portion of the
asset's use. Other support costs are allocated based on the spread of staff costs.
25

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
Raising Funds
These are costs incurred in attracting voluntary income, the management of investments and
those incurred in trading activities to raise funds.
Charitable Activities
Charitable expenditure comprises those costs incurred bythe charity in the delivery of its
activities and services for its beneficiaries. It includes both costs that can be allocated
directlyto such activities and those costs of an indirect nature necessaryto supportthem.
Support costs
Support costs include central functions and have been allocated to activity cost categories on
a basis consistent with the use of resources, for example, allocating property costs byfloor
areas, or per capita, staff costs bythe time spent and other costs by their usage.
Taxation
The charity is considered to pass the tests set out ID Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable companyfor UK corporation tax
purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or
capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax
act 2010 or Section 256 ofthe Taxation of Chargeable Gains Act 1992, to the extentthat such
income or gains are applied exclusivelyto charitabLe purposes.
Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost, less any subsequent
accumulated depreciation and subsequent impairment losses. This is a policy change from
prior years where £1,000 or more were initially recorded.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less
any estimated residual value, over their expected economic Life as follows:
Asset Class
Long-term leasehoLd property
Fixtures and fitting
Computer Equipment
Depreciation method and rate
overthe length of the lease
15% reducing balance
Straight line over 4 years
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term
highly liquid investments that are readily convertible to a known amount of cash and are
subject to an insignificant risk of change in value.
26

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31°, MARCH 2024
Trade debtors
Trade and other debtors are recognized at the settlement amount after any trade discount
offered.
Prep8yments arevalued at the amount prepaid net of anytrade discounts due.
Fund structure
Unrestricted income funds are generalfunds that are available for use atthe trustee's
discretion in furtherance of the objectives of the charity.
Designated funds are personaLised funds set aside for a specific purpose oractivity.
Restricted income funds are those donated for use in a particular area orfor specific
purposes. the use of which is restricted to that area or purpose
Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a
past event, it is probabLe that a transferof economic benefit will be required in settLement, and
the amount of the settlement can be estimated reLiabLy.
Liabilities are recognised atthe amountthat the Charitable Company anticipates itwill pay to
settle the debt orthe amount it has received as advanced payments forthe goods or services it
must provide.
Provisions are measured atthe best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material. the provision is based on the present
value of those amounts, discounted atthe pre-tax discount rate that reflects the risks specific
to the liability. The unwinding of the discount is recognized in the statement of financial
activities as a finance cost.
27

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
3. Income from donations and legacies
Unrestricted
funds
General
Restricted
funds
General
Total
2023
Total 2024
Grants
106,840
1,233
25
223,400
330.240
1.233
25
173,520
1,580
Donations
Gift Aid
108,098
223.400
331,498
175,100
4. Income from charitable activities
Unrestricted funds
General
Total
2024
Tota(
2023
Arches
31.960
31,960
32,691
Exhibitions
1.560
RIPE
2,767
2.767
2,353
Supporting Artists in Southampton
2,334
34,727
34,727
38,938
28

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
5. Income from other trading activities
Unrestricted
funds General
Total 2024
Total 2023
Income from fundraisingevents
2,533
2.533
163
Income from non-chaTltable trading activities
Unrestricted
funds General
Total
2024
Total
2023
Café income
62.143
62,143
46,886
Shop Income
Venue hire
4,086
4,086
27,196
4,503
24,090
8,285
27,196
Admissions
9,750
9,750
Other receipts
24,995
24,995
57,766
128,170
128,170
130,703
141.530
Other trading activities
Total
130,703
141,693
6. Investment income
Unrestricted
funds
General
Total
2024
Total
2023
Interest receivable
2,638
2.638
960
29

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
7. Expenditure on raisingfunds
a) Fundraising trading
expenses
Total
2024
Total
2023
Fundraising
b} Other trading expenses
Unrestricted
Funds 2024
Total
2024
Total
2023
Trading expenses
34,330
34,330
47.875
Start up costs
2,310
2,310
Staff costs
48.868
48,868
16,863
85.508
85,508
64,738
8. Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
Restricted
Funds
Total
2024
Total
2023
Arches
15,883
15,883
2,304
23.128
Artist Resources
Exhibitions (inc. in
SAS 20241
RIPE
61.672
11,674
41.470
Public Arts Projects
SupportingArtists in
Southampton
359.941
173.229
533,170
474,249
614,497
375.824
173,229
549,053
30

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31" MARCH 2024
9. Analysis of expenditure by activities
Activities
undertaken
directly
Support
costs
Total
2024
Total
2023
Arches
10,161
5,722
15.883
2,300
Artist Resources
5,550
116
5.666
23,129
Exhibitions linc. in
SAS 241
61,673
RIPE
14,873
1.304
16.177
11,675
Public Arts Projects
41,470
SupportingArtists in
Southampton
330,214
181,113
511.327
474,249
360,798
188,255
549.053
614.497
31

A SPACE,. GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
Analysis of direct costs
Arches
2024
Artist
Resources
2024
RIPE
2024
Supporting
Artists in
Southamptonl
Exhibitions
2024
Total
funds
2024
Total
funds
2023
Artist fees
1,518
5,550
3,631
20,549
31,248
74,947
Exhibitions
& events
254
5,852
6.106
627
Marketing
377
1,637
13,318
11,043
PAP
3,570
Other costs
415
1,413
1,828
2,530
Staff costs
269,432
269.432
70,007
Activity
Costs
1,875
Freelancer
1,433
4,615
8,135
14,183
39.441
Technician
Rates,
electricity,
gas, water
6.418
3,323
12.928
22,669
19,513
10,161
5,550
14,873
330,214
360,798
223,553
32

A SPACE: GROWING CREATIVE COMMUNITIES LTD
{A company Limited by guarantee)
Analysis of support costs
Arches
22024
Artist
Resources
2024
RIPE
2024
Supporting
Artists in
Southarnptonl
Exhibitions 2024
Total
2024
Total
2023
Other Costs
50
12.492
12,551
2,169
Staff costs
192,486
Freelancers
and
technicians
207
207
7,290
Building costs
4,961
562
4,745
10,268
24,866
Rates.
electricity,
gas, water
12.330
12,330
8.781
Insurance
6,203
6.203
7,177
VAT not
reclaimable
11,576
11,576
16,811
Office costs
692
692
2.909
4,293
9.141
Depreciation
126,450
126,450
108,697
Subscriptions
116
1.749
1,865
4,438
Bank charges
60
139
199
183
Governance
costs
2,313
2,313
8,906
5,722
116
1304
181,113
188,255
390,945
33

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
10. Independent Examiner's Remuneration
Total
Total
2024
2023
Fees payable to the Charitable Company's independent examiner for
500
the independent examination of the Charitable Company's annual accounts
3,000
Fees payable for all other accountancy services not included above
11. Trustees remuneration and expenses
During the year. no Trustees received any remuneration or other benefits {2023- £NILI.
Duringtheyear ended 31. March 2024 no expenseswere reimbursed or paid directlyto Trustees12023-
to 3 Trustees), a small gift to the value of £53 was presented to 1 trustee to thank them for their
support:
Total
2024
Total
2023
Traveu small gift
12. Tangible Fixed Assets
Short-term
leasehold
property
Fixtures,
Fittings and
Equipment
Computer
Equipment
Total
COST
At beginning ofyear
Disoosals
1,375,571
27,922
196.714
1,600.207
Add itions
At end of year
1,375,571
27,922
196.714
1,600,207
DEPRECIATION
At beginning of year
Disposals
Chargefor theyear
At end of year
166,175
12,791
122.460
301,426
66,678
232,853
2,271
15,062
57,496
179,956
126,446
427,872
NET BOOK VALUES
As at 31"March 2024
1,142,718
12,860
16,758
1,172,335
As at 31" March 2023
1,209,396
15.131
74,254
1,298,781
34

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31., MARCH 2024
13. Debtors
2024
2023
Due within one y8ar
Trade debtors
11,407
5,125
Other debtors
44,387
44,761
Prepayments
1,424
357
57,218
50,243
14. Creditors: Amounts falling due within one year
2024
2023
Trade creditors
3,352
5,427
11,207
1.479
Other taxation and social security
Other creditors
3,435
1.363
Accruals and deferred income
26,391
10,300
34,540
28.413
15. Prior year adjustments
The comparative figures have been corrected to recognise the value of the Gods House Tower building
itse If as a restricted asset. Last year it was recognised within designated f unds. The Trustees believe
this is a more accurate reflection of the impact this building has on the funds of the charity. There is no
impact on the overall results of the charity. but general unrestricted reserves have been reduced by the
value of the building.
The effect of this is as follows-
Designated reserves for the year ended 2023 have been restated from £1,267.506 to £64.652.
General unrestricted funds forthe yearended 2023 have rernained the same at £237,201
Restricted reserves for the year ended 2023 are now restated from £0 to £1.202,854
35

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
16. Restricted reserves
Statement of funds- current year
Balance
at 1"April
2023
restated
Balance
at31.
March
2024
Transfers
inlout
Income
Expenditure
Designated Funds
Designated GHTsinking
fund
64,652
164.6521
177,898
113,246
Operational Reserves Fund
177,898
177,898
64,652
General unrestricted
funds
General Funds-allfunds
Unrestricted Funds
237,201
276,166
1461,3321
3.603
55,638
237,201
276,166
{461,332}
3,603
55,638
Total Unrestricted Funds
301,853
276,166
(461,3321
116,849
233,536
Restricted Funds
GHT Fixed asset fund
*4¢
1,202,854
166,678)
1,136,176
Southampton Forward
NLHF GHT
106.000
97,137
10,000
6,663
3,600
{106,0001
146.9661
110,0001
16,6631
13,6001
(173,229)
150,1711
RIPE Project
Artwork
ACE Transition Fund
1,202,854
223,400
(116,8491
1,136,176
Total of Funds
1,504,707
499,566
{634,561}
1,369,712
Duringthe yearthe designated GHT sinkingfund was transferred into an overall operational reseNes
fund as per the Trustees report.
**
Restated from designated funds in 2023.
36

ASPACE: GROWING CREATIVE COMMUNITIES LTD
(A company Limited by guarantee)
Statement of funds- prioryear
Balance
at 1°'April
2022
Balance at
31°, March
2023
Transfers
inlout
Income
Expenditure
Designated Funds
Designated GHT sinking
fund
59,962
59,962
4,690
64.652
4.690
64,652
Genèral unr8Stricted
Funds
General Funds- allfunds
Unrestricted Funds
475,847
317.411
1551 ,3671
14,6901
237,201
475,847
535.809
317,411
317,411
1551 ,3671
(551,3671
14,6901
237,201
301,853
Total Unrestricted Funds
Restricted Funds
GHT Fixed Asset Fund
Gods House Tower
Refurbishment
1,269.538
166.6841
1,202,854
15.230
{15.2301
15.5001
19.9591
130.4951
1127,8681
Meeting Point Project
RIPE Project
Public Arts Project
5,500
4,959
11,445
1.291.442
5.000
19,050
39,280
1,202,854
TotaL of Funds
1,827,251
356.691
(679.235}
1,504,707
In 2024, the Trustees made a decision to set aside a minimum of 3 months of operational reseNes to
be held as designated. Of the designated reserves, the Trustees will continue to hold a portion for
building repairs and future maintenance ofthe Historic God's house Tower and its other properties
which it makes available for regular use by local artists. The full sum of designated reserves in 2024 are
now called Operational Reserves Fund.
37

A SPACE: GROWING CREATIVE COMMUNITIES LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FQR THE YEAR ENDED 31°, MARCH 2024
17. Summary offunds
Summary of funds- current year
Balance
at
Balance
at
31" March
2024
Transfers
inl out
2023
Income
Expenditure
Designated funds
64,652
113,246
177,898
Generalfunds
237.201
276.166
1461 ,3321
3,603
55,638
Restricted funds
1,202.854
223,400
1173.2291
1116,8491
1,136,176
1,504,707
499,566
(634,561)
1,369.712
Summary offunds- prioryear
Balance
at
1"April
2022
Balance at
31" March
2023
Transfers
in/out
Income
Expenditure
Designated funds
59.962
4.690
64.652
Generalfunds
475,847
317.411
1551,3671
14.6901
237,201
Restricted funds
1,291,442
39,280
1127,8681
(679,235)
1,202,854
1,827,251
356,691
1,504,707
38

,4 SDACE: G,'qOVVI,NG Cg-AT,,II= COI4,,YUINITlcS I TD
IA COiTP9n
3Liarantge)
18. Analysis of net assets between funds
Analysis of net assets between funds- current year
Unrestricted
Funds
General 2024
Total
Funds
2024
Tangible fixed assets
1,172,335
1,172,335
Current assets
231,917
231.917
Current Liabilities
134,5401
134,5401
Total net assets
1,369.712
1,369,712
AnaLysis of net assets between funds- prior year
Unrestricted
Funds
General
2023
Total
Funds
2023
Tangible fixed assets
Current assets
Current Liabilities
1,298,781
234,339
128,4131
1,298,781
234,339
128,4131
Total net assets
1,504,707
1,504,707
These notes do notform part of the financial statements.
39