COMPANY REGISTRATION NUMBER: 07123227 CHARITY REGISTRATION NUMBER: 1148716 Project Space Leeds Company Llmited by Guarantee Financial Statements 31st March 2024 Project Space tthls Comp&ny Limited by Guarantee Financial Statements Year ended 31st March 2024 PAgt Tr￿￿et4 annuaj reTX)rt liJK0rwK￿l￿g Ihechair s Stste[n￿ attd Dircaorfs [t￿rn) Ind¢wdcntauditsrf5 rcp)rt ¢othc rn38 tkxk Strcct ISIO IJF Tb¢ Trusttt$ Mr J D Hill {rc5igttd 17 S¢pt¢mtrtr 20241 Mis5 S Ncthmwi￿l MT AMPLLovitt Mr D J WaThen Mr S J FoAer MT F J Finlay IC)Lair) M5 G Pollock Mr S Barclay Iresigncd 17 Scptembcr 2024) M5 M J Lknbury Mis5 T Ahmed Ms L Nhuyen Mrs S L Tyson laFvyinted l April 2023. resigr￿1 23 2024) Ms H C Br￿k laW￿l￿t￿j 15 March 20241 J055 Richardson CDmpAy xetrttary Auditor Sw ACC￿jn￿Tr1$ Ltd CThartered audili)r Gresham House 5-7 & PwJi'5 Sw Leeds LSI 2JG B*Kk¢rs Lloyd5 65-68 Bri88a ISI 6LH Project Space Leeds Company Limited by Guarantee Tru5tees' Annual Report (Co￿•￿* Year ended 31st March 2024 Cbair's report This ha5 b¢¢n a pivotal year for our th￿lty. a5 ow ¢¢ryn al The Tdky aD ¢nd- ev￿ as mulirple doors or*ned On￿ a new iandxape of possibiliiiek Our departure from the Fmjildirtg irtevithbly sadThes& bui also ihe Opport￿￿ty lo Tefi¢ct 00 aJMI tekbratc 10 extraordinary y￿& in which over a millioTh visitor5 en￿Yed ¢xcrylioMI. bold ¢oniemponry art. explor their own ide45 and cre￿ivity, and shatrd ￿(mmkrfvt rnorrthts among family ar￿ a creaiive community INJrsiin8 with inspiration and curiosity. This period has seeth uspr¢scnt Yorkshire's only TwT*r Prize winning exhibilson and support hundred5 of cxcitin& etnerging visual ￿l#S. many Dn orsi￿lf1c*rt pmfe&sional succcsk thi5 artistic community now Y¢a¢hes a¢ross the world, making an importani con1ributi￿ LO l(thy's C￿lernF￿ Visual ans l￿d5¢ap￿ The CoTntThunily Takeov - I1￿ rtfl¢¢ts th¢ vision and arnbilion we cary f(Kward inlo the Y￿ ah¢ad. We will sts8e ￿ld new wi)wk: ¢nabl¢ ex¢ilingn￿ thl¢rtl io thrive; pul the visual ans ￿ ihe heart of communily and belonging"" with partners ￿ the T¢gTrDn. Wilh thenL ive will yl¢niify the Vert￿ or spaces where YorkshiT¢ Coniemporary will establish Ihe ￿gi￿.$ new l¥xn¢ for ¢ont¢mFw visual art Wc aT¢ hugely gratcful kn th¢ many ful￿¢1$ and supwrfu5 who hav¢ onr¢ again made our Work possible (his )e4r. (hr thanks to all artists. Cllrnlor* participonts a￿llert¢￿ partthets4T￿ fuDd¢rs- who have fvelled our thinking and ambiiions over thi5 riod of Iransiiiofi. We look forward to our Continuing ￿Ork tO8dl*r. Frank Finlay. Chair of Trusites Project Space Leeds Company Limited by Guarantee Trustees, Annual Report (CM1￿1¢¢7 Year ended 31st March 2024 Stritture. goveraAAee •Trd m*w•gewewt Overview Projeci Space Leeds (also kTh)wn as PSL} is the charity lh* unlil 31 MaT¢h 2024 opera*d &$ The Tthley. ryeMin% conlcmporJry art gall￿ JNJ wnmuniiy hub locat¢d in the Wqwters of the fornier Ttiley Br¢wery on Lceds's South Ba*k. In early 2024 PSL left the Tetley buildin& and rebrar￿d &$ Yorkshire Contemporary. relk¢ting a wider remit working in partnership across the region swing dev¢lfjJpment of with communitit5. Gov*n)thg do¢um¢nl The charity is a company limited by guaran¢¢¢. Th¢ coMpa￿Y gained dwitsbk status on 9 Augum 2012 and since then li has beth goverrted by ils Memoratklum atkl Articles of ASS￿lati￿. &$ amenLkd by srKcial ￿sOlution on 9 Augu* 2012. Th¢ Articles of Assrfiaiion were amended, 8nd the yeT￿Sed articlc5 *icd on 13 March 2018. Retrultmeot And xppolntAtmt of DewTrnstees Directors scrye for a fixd tcrm of thr¢¢ yrw5 and ￿ s￿¢ f4Y a seeotld It￿ by a8reement. We are mindful of ¢onstsnily evolving the bre<h of skills a￿1 expertise needed to the chty. when Yacan¢ies tirise recruitment is LJndert8ken by open call with particuthr r¢fer¢n¢e to any iderbiifi¢d skilts OT kno￿ledge g4ts aTLd io cnsur¢ diversity ar¥J that the board i5 represeniaiive of ourtommunitie InductÉon trainimi o(newTTh51et5 All Tnjstees are seni an indtsciiort pack on 4witiimeni ￿ EKovide ihem wilh bxkgTound ijjformaiion on th¢ organisaiioi). iis strucimrt. business plan, its ￿lIcIeS and its fiDanc¢k a¥¢ i$￿￿d with lai¢st 8ov¢mment 8uidance on ￿ing a irumee al￿ have individual m%lings wth th¢ Chair CEO 10 ¢nyJYe W we fvlly Inforn￿d and confident aboui taking on ih¢5¢ responsibilities. This fomis part of the Iraining ofTN*ees. Away da>s and fortr￿ iraMiAg dtys for TnI￿teS are held from lime lo tiJn¢ I￿51t¢S ¢ncourdgcd io after￿ any trainin8 rEkvant kn their role Owiimtional strutture The day-tfyJay matwmrni of the ¢h¥iiy is thieBat&l to the execsJti¥e ieam. Pay for kcy managernenl per5Dn￿l, whiEh is agrets1 by Ihe T￿￿ets. is set and ayeed bv rtfererKe 10 Imtyts aThJ again# industry stsnd8rd& The tradhng 5ub5idiary. PSL EnttrpTi5C5 Lid {PELX is in the I￿0c¢S5OrbE1nB wound up. Tradin8 cel￿d in December 2023 and the wholly company was solveni paid off its OU￿￿1n8 ddmk Risk m8nagtmtnl The Tru51ees u[Nlcr￿aftd their d￿Y to Mlertiify and review the risks io which ihe charity is ex￿sed and io ¢nsur¢ appropriate contro15 are in place lo provide re￿nable assuT5￿¢ againa fraud abd eywr. A ￿￿e81C risk regi51cr i5 in place arKi is r¢view¢d on a quarterly basis by the A￿1¢ Commill¢¢ athj by the bo¥d. Objectives and idivitie5 Objtttivts And aiAs The of th¢ ¢hariiy ar¢". The advarKemtni of public CdU￿10Th in a￿1 atveciatN)nof the art5 in particularbui ¢xelusively by: . FosterinB and prom￿1￿￿ an unde￿anding arvrecl￿•o￿ of th arts for the b¢rffit of ih¢ publi¢. - Pl{￿￿tIng and thvan¢irt8 the partitLpaiiw edUc￿lon of the gerthl public in the visualaj - Providing and m#iotsirtithg an art galler). for ihe eKhibiiion of visual art io Ihe g¢neTalpublic. - DelivETing visual arts and tducaiion ￿08T#M￿ io childTer4 young adulisand aduli l¢amer - Pmviding artists with 8dvi¢< 8s5iYOrt¢¢ aNI ¥ce&s M non-commer¢ial gall￿ 5pac¢ forth¢ publicb¢n¢fil. In the year ending March 2024. Ihe charity deliver￿ the5¢ ObJ￿ts IhTDugh the opuatioTh of The Tdley. a pioneering centr¢ for cont¢rnptThy art lo¢at¢d in th¢ i¢oni¢ art d¢¢0 I*￿qUarterS of the forn￿r Tthley Bre￿ery. FTOM thi5 l￿dmart Y¢nu¢ in ihc heart of Leeds's South Bank. Teilty crt*ed a platf￿rn for exiraordinary cmerging awlists, pr¢s¢ni¢d br¢aih-iakit)8 free exhibiiions and helped communities and yowig in L¢eds fiMI U*ir crotive voice. Project Space l*eds Company Limited by Guarantee Trnstees, Annual Report Year ended 31st March 2024 Objectives and 4im5 (comtsiniedj The ¢haTity'5 thr¢¢ areas of aclivity-exhLlpilion, deYtiorMneThi and community cng8gemeThl- carnc logdh¢T to rr¢at¢ a dynami¢ y¢ar-mund pro8ramme rexhing far and deep across wr home cily. making connection5 abo with a natianal and iniernaiional arti￿l¢ community. In shoping our obj¢¢t1¥￿ for th¢ year aTrJ plannin8 ow attivI￿ ihe T￿L￿et5 have consider¢d the Charity Commission's guidance on public benefiL (hIrwo￿ arkl pr0grnn￿ are fully atigncd with this guidontt. Achievewent5 perform•nce Makn *etlvilit5 of the year Thi5 wa5 a ycar ofiransition for the ¢lwity. wilh the kase on The Taky ￿￿[dIng cominE io an end in March 2024 after 10 hugely successful yeao Dver which we welcomed over I million visitor5 thr￿¥b our d(M*T5. April 2023 opened with work well undcr way to explo￿ alt¢rnatsve Y¢mKs for a gallery we 8Jd discussions already Jvanced with prosp¢aive paTth¢r5. In S¢ptanber 2W23 atllu￿[LCed we would bc leaving the Tetky building. wilh Ik onsiie ¢xhibiiion wo8rnmm¢ etbJiL)8 in Octotr*r aThJ ihe bar kitchen closing on ihe sarn¢ dale. In the final month5 or 2023 we hO￿¢d Our Community Takcovcr. a joyous programwK of SP￿la1 wforman¢¢s •nd events by parthe￿ and friends from Lcds hnd beyond. ¢¢kbrniing th¢ prith¢iples and tonneciions fo￿tred by The Tciley over thc I￿t 10 y￿r5. Th¢ Tctley (los￿ to th¢wbli¢ in tk¢¢mtw 2023 tram left the buildin8 in March 21f24. Over the C¢MJf5e ofihis year. li EKcame evid¢ni that due io tk firwKi*l ¢litn•K 8NI a b(wing prDWty markth in Lttds driving high dernand for 5pxet the plans we h*1 in pixt for a new vcnue wotskl maierialise. We iheTefoTe planned for 8 period of working differenily. xross Yorksthire aThl kyon(L to make coniemporary an happen: in May 2024 the charity was io retxand as Yorkshire Cont￿￿rary. reflccling this broth x(oe of ￿7vIty. Wiihth Lwls itself. we developed ambiiious plans lo embeil our oUtr¢￿h aciivity acr055 S￿th Leed& btingin8 the visual arts into the hcan ofpeopl¢'s lives to fosi¢r ¢othne¢iions arKI ¢ommllDity ihroy8h sha￿d art and play. A 3-}ear grani fft)m Ihe N￿lonal Lollery ComrnunitlCS Fund, ¢(￿riMi¢d irt 2023. eThabled this lo st¥1 in January 2024. This change m¢ani a ￿s￿ined per¥xi of v¢ry xtive #ewathip of our a￿￿"tr￿ partlcipants 4rti5ts fimd¢T5 and wider P4rtnern ¥ we ￿eSha￿d the ehariiy's work. in dialogue wilh them a￿1 with the wider rommunily. We r¢m&i enrKmously 8fdteful for Ihe continuing 5UP[M￿l of these many $￿kd￿lder Despite the change& this was a year of notable xhievemeThts across exh ofThe Tdley's CLYC areas of aclivity. rwn¢ly'. crtatin8 excitin8 Orwri￿lI1¢5 for rKopl¢ lo stt vi￿1 art for fr¢e providing ou15tsnding SUPE￿ a]Mt foi catty-carter tslmi it) the re8ion. includin8 through our inl¢rnationaJ ￿Ork foA¢ring links bdween anistsathl aLLdtert¢es xross the globe supw)riins children and adults io be creauvc. by providin8 xcess io inc1￿1Ve, inspiring participatory Ktiviii¢s In the course of th¢ year The T¢tl¢y w¢lcom¢d 85.766 p¢opl¢ through our dws aNI delivered over ILK) pgrticipatory Ivork5hty* tslks training se55iDns b￿h on- aThJ off-site. linked to ihree core areasof acliviiy. ExhibilM>tiy As ¢v¢r. an w)biiious diverse exllibiiion programme broughi an exirdordinary breth of idea5 and the￿e5 to animaie our building and gallery spaces. All were accessible io the public eniirely frtt of ch¥ge. Project Space Leeds Company Limited by Guarantee Trustees, Annual Report (cMdwe4J Ye*r eDded 31st M*reh 2024 ExkibltloAS (CO￿l￿￿ed) The year opened wilh The Living and the Sial¢{February- May 20231 a first major solo Show by Samra Mayanja and part ofThe Tdley's JerWo(￿l commi￿10￿5 Programme. suw)rted bj. jeTh¥￿1 Ans. An anisi ofugandan descent. Samra drcw on her own petsonal experiences. uncovering family hiaories thr￿h lonttrave15 in Uganda ihat 5hc coJnbin¢d with research irtio secrdary-scribe. Ham Mukasa Ic.l87¢k1956X a Central figurc in brokering rc￿1]￿$ bdw¢cn UgAnda and other nation& The result. ertated as inside of a dispersed film. w&s a corn￿111ng mix of vid¢0 insts11￿lonS drowings, ph￿Ograph* s¢uloures stMI re¢onstvudionsof &8llbfiwi s¢ttin8& w¢aviD8 t•8aher these pardllel stories in a richly nuan¢ed aThJ smp3¢¢ful experience. Andrew Black's Ort Ch)88er lJanuary- July 2023k [Ke￿Ied IA coIIthNion wilh LUX Scotlar¥L ap10￿d th¢ I￿1 hi5tary of prutest in North Y￿shi￿.S WaShb￿rn Vallcy athl featurtd iMp)t￿l material from 3 York5hire-b3sed ar¢hiv¢s usuolly seen by aFy)intm¢ni (Mjly. Th¢ film was nominated forthe Ewii8ious J8m)aTh Moving Image Award iyiih Filtn London. An utKioulAed highlighi ofthe ycar w&$ Afra Eisma's spilththjwrt tertdu{Jw*- October 2023k a playful. la¢iil¢. occasionally stsrtling exptritnce spamiin8 a seriesof wamL colourful 8nd invitin8 spaces.. a reS￿nSe io increasing une&se. dis¢omfort and un¢¢nainry suvwundin8 socialÈsin8 foJlowin8 th¢ pat)demi¢. Soft ￿UlpTureS. sound in￿alIa110￿5 and c¢rami¢s invited visitors to ioucL feel and cthldk sit ort ithterxt wilh artwthks ITh a range offamiliarand fantastical settLn8S. This w&8 ihe Duich artist's first UK solo exhibiiiotL an enthusi&siic and spiriied response io the particular onfiguTatiOn Df our 5pace5." in the aiTium. a 8iani installaion Of'cek￿lal drns, was dirttily inspired by the Scale of ihi5 space. Several works have be*) selected for futhr exhibilioth * Viirirt Bascl and Turku. Finland: it is clear that Ihe show has opened up #ew, iniemaiional opJk)rDJniiies for * artiy very much on the cusp of in1ern￿1onaI 5uc£tss. The exhibition was hug¢ly well received by OUT Visitors by rnLrr*rousdeleEatioThs from LEEDS2023 Ciiy of Cuhure.. thr intera¢iivdmults.media tjements had a appeal for thildm. with elemeThs welcorned in particular by parents and childrEn with aulism. The tXhibili￿ was by tht mondri￿ the Fjkny of ihc Netherlands and LEEDS 2023. amon8 lrther& The Swnmer also bwLryht Istereo- ¢Jye- rnusicl. an ¥JdioW0￿ 0￿j iA4ali*iM by compow Richy Carcy, a co- tatllTt1155ion wjih Art Nighi Dundee ihat drew ioEether Rithy'5 with choir& artiM& community groups oth¢r tallaborators in immcrsivc expcrience exploriTh8 diffcrent ￿blithIn8 WXiiCC5 mighi infonn the ways w¢ lisien to e8¢h oth¢r. Artist developAeDt The ¢hariiy fuifils o vital role withrn Lttds artd Yot*thiff's visual arts ¢colo8), working ivith arlists at i pivotal st4e in their developmeni io enable a irdnsfonnwion in their praaice arwj bring a ￿e￿change in their(arc￿5. A fir5L resrdezjcy brought Lisa-marie Dickinson inlo our for a 2-mI￿th rtsId￿tY to explore language in it5 writlen, spoken and ge￿Ural fomis. thr￿gh drawin& s¢ulpwTe and plMAography- experimenting u'ith Ihe ith that lit￿ and marks can be language. and Ihat languag¢ can b¢ drawing. recognisable without wJhcTing kn th¢ olphabei. Lisa shared her rtteni re5eareh- paitcrns ihal could be letlcr5 or payetnenl markity th* could bE in an DPEll st￿]0 eveni in Sq>iembcr. This year, ￿ we ceiebraied Ihe succcss and aPTthI of Tiny Teiky ￿￿j10 (de￿￿￿¢￿ and ¢￿a￿d by caTI)' years sp¢¢ialisi arfi Siephanie J¢treries) and developed new pl￿$ ￿ (klivw cr¢*iv¢ plav ac¢iviiic$ 4¢ross South Lttds communiiie& Ive soughi io iDclude arnon8 SUPW)rted artists thost ivith art in developing their wotk around socially tmgaged [￿tice, Working with young children and iheir familie5. Thi5 thould enabk v5 10 oifer arti*s exciiin& pawj worft opptbrtuniti¢5 following on frDm their ￿t￿den(l¢S and collabordl1￿ ￿Chang Emily Binks. resid¢w folloived on from hu Home is! Proje¢i in Cross Flalls Park Ihe previous surnmcr. inviting childr¢D aged 5 1 I to crcaie Iheir own liiile using worf and lois ofoiher excitlng mat¢rial& Th¢ r¢siden¢y ¢nabled her axhibii her wowk alongsith Ihe OTiginal aT¢hi*dunl pl•ms for Th¢ Tetl¢y ￿lIding March saiv her designing an eniire n¢w land*ap¢ of Ertstivity foi youn8 ¢hildr¢n and famili¢& irtspird by noor plans and blueprinis and using soft sculplure5 10 creaie ibonderful c1iyscd￿5. Project Space Leeds Company Limited by Guarantee Trustees, Annual Report {¢•w Year ended 31st Marcb 2024 Artist development Beatrice Lee Krrt)%vles h&s buih a strong l#)dy of wotk ￿ a 'pl&y xiiyalor. with 0 5Cll50ry fo¢u5. desi￿l￿g and making resource5 that cncourdge open cnded ¢xploNion a￿1 igni¢¢ ucaiive play. Bewti¢e's rtsideney focLLsed on enabling discovery d explornlion for ihe vo. youngest rhildrn. Her iil¢a5 tu>k Cr￿tre sthgc for Baby Wttk in Novembes 2023. where her Baby Banquei invited play and ¢onn¢¢iions around fwd". in our central ￿n￿rn. Don't Play wilh Your FIKbd wa5 Y4 large-￿¢ instsllaiion ftaturing brighi grttn rnats with big silver irays of coirMJrful Veg￿kS aThJ hand-made ioys. Beatri¢e ivtsn our fJrs¢ commissiorb lo develop early y¢w5 play xtivity sessions for Hraithy Living CCTh￿ in Souih Letds: Wai started here in January 2024. OKe alain. thi$ ye¥ saw earfier '8rkn' of The Taley's ArtiA DevelOFrfn￿I Programme takithg signifi¢ani nexi sieps in building their profjle and carc¢r5. With WPFrf>rt from teaTtL a￿1 fimdtsl by a British Council Biemnials Connect 8fdni. Huddersfield aftia Benaiah Matheson wid¢rtook Town IslaTrL a Thtw pmjeeL irwittd by migTaiion beloDging. An initial residcncy at Art Housc 473 in Grenada w&$ the stsrtin8 trtTrini for Cre￿1ve collaboration betwetn T.A. Marryshow Commwiity College in Gr¢nth and young people aThJ Grcnwjian ¢￿￿￿v￿]i1¢5 in HuddersfKI(L This generatcd rich creative rcsponsts ihal would ¢om¢ tog¢ih¢r its the OTtiSt's present￿101). with this community. Is part of the Grenada Pavilion ai the 2024 Venice Biertnaie. OVCT Ihc couw5c ofthc year we dir¢dly paid 55 artist5 4NJ with •¥￿ £￿.INM1 loin8 direct to these prauiiioners. (hjr i¢am provided infomiai *lvite suN)ort th m*)y loca] artists inclthling supw)rtiThg them with application5 to Ar15 Council En8land. CommuAity ¢nyÉement 2023Q4 was an ￿traordInary ye4r for withrcommunity cngage￿l bcyond the iva115 of The Tdley. Wc were delightcd to bring two 5ub5kn1ial new artworks into Leeds's public Sp￿￿. iAe September saw the install￿10n of Zot Polver's 3(Mhn2 mural wall M the %MJthwest fxe of the historic Musmrd Whftrfhjiiding 81 Tower Warks, an imPDtLlnt Tithgc fvdture retained wiihin a widcr. C(￿em[￿>rary hL¥JSing ¢kv¢low¢. The Tetky fa¢iliiated consultation with residenis Ind with the develop¢r5 managed the cornmissioN. Zoe'5 distinciiye *le blends tradilioThal painting techniques with pun¢hy, grnphi¢ ima8¢ry; here sh¢ iJKoryA)rat¢d ¢h)LwI% ¢08$ from faciory machines and patterns from wooll¢n weaves (tchoing ihe site's origins &s a wool comb faaoryl inio a swiking imag4 with a singl¢ thT¢*J ¢niwiJing iivo fi8ur¢& representing connection and moirbg th¢ past with the wsent 10 ¢rt* an endllrin8 artwork. The developers. residenis dnd artisi alike wu¢ d¢light¢d with l)oth th¢W(*￿ •ndth¢ r￿lshed amvork. In Novemtr*r 2023. we presenied Afrah Shafiq's m.itch in the main conci¥￿ of Leeds train statio]4 as part of LEEDS2023 Ciiy of Cultur¢. The projcci drew on The Talcy s cXw￿ly¢ kJwwl¢£¥¢ of 8rtiYS and histovic work in Indi4 buili over successive ¢r¢otive Collabo￿10￿5. This was a fiN UK exhibiiion for ShafN. a mulli,'r￿¥ media arti51 working frorn Go Indi& who intertiw]ies archival fJndirt8s. hist￿, mernory. folklo￿ and fantasy ￿ creat¢ a srKcula¢ive world born of remix culwre. Afrah moves e&sily across fonns ar￿ rnedi& drdwing from the languagc Df tradition￿ folk fom)s and connecting th¢m to ik digital I￿guage of Int¢rnrf ojxl video gan¢s. SLii¢h was a multimedia p￿ch1￿.0Tk looking at the Irans8fE55ive ￿tential of s dome￿it Labaur." the artim pieced toBeihcr a pl￿ure of Wo￿n.5 inn¢T liv¢s in Biitain viihin the home. in ihe workforce, Iheir writings their cr¢￿1¥¢ ¢ndeavouT5. and their resistance - draivinE oul the connections ihai seiving, knittin& WVdvin8 and othu cralls have ￿ m3thernati(s compkx forniul)> the binary syM¢m and code. P8$5eTS-by making their wly Ihrough the stalion i¥ere #ble 10 open ￿ atKI view a series of-diEiial handkerchiefs. (video artW'OTksl via QR ¢od¢s ac¢e$$irt8 a guili of ima8¢ry piompiing 4￿{10￿$ and new ￿[s[￿￿1Ve5 OTh women's latrtlur. si.ii¢h was supported by the Briii5h Council as part of its UKAndia sea%￿. Project Space Leeds Company Limited by Guarantee Trustees, Annual Report (ewi￿¢47 Year ended 31st March 2024 Community enygethent f¢othln*edJ JathU￿ 2024 our team WO￿ on INSIDE OUT. an exciiing prosramme of art and play4)a5¢d aclivity ¢mb¢dded with 8r8s5roois partntTS in Ihe Bet*ofi and Hunslel district5 of Soth Leeds. INSIDE OUT brings atte&sibl& i￿[11s1¥¢ opportuniiie5 ror CTeaiiYe pla>. 10 childrcn al￿ famili¢s fxilithid by skill¢d ani#S •Mresyn8 an identified gap in play provision in neighboUrho￿ thAi ar¢ thara¢i¢rised by high le¥els of dewivaiirn and prA)r. overcrowded housin& Al HaTllarn H¢alih Living Cenirc. servirt8 the local South Asian commurbiiy as w¢ll a5 many rcfugees and asylum seekets htsused locally, families accessed Sp1￿ - our fTK drop4n early-years an a￿j play se55im once a wttL fTDTll Jartuary. babics and toddlcT5 delighted in B¢atTiC¢ Ix¢ Knowl¢s'5 sofL colourful vege¢abl¢s play fwj. t￿th￿I￿￿11Y m&thing iheir vc& ba5biDg at pans wilh spoon% and expknring iexlurts 8Th1 stymds. Ai Rowland Ro•J WoTkiTrB Men"s Club, 15¢ stsrted work with I¢￿[ volunieus visionin8 the new, Fm)anent community play spxe th￿ will lake ov¢r a n¢glettt¢L overgrown plth of land adjoining ihe club - exploring with them th¢ m05t iDspirin8 ideas 8NI appmxhes to play. A first day of hand54>n livity saw volffiteers clearing scrnb athl nthiish from the sik and o￿an151n8 a group day out for farTbili¢s 10 explore a aJnaziThg outsl(KkT play spatt irt Br&lford. With Letds Park5 ar¥J Couniry5id¢ seryicc and arti￿ Emily Birtks, we started planning an energetic prograrnme of dropin c[￿1ve Tnaking aTrJ ￿lIdIng for Cr055 F￿lts pwk. sMin8 from Summer 2024. INSIDE Otrr L5 a 3.y¢w I￿oi¢¢t funded by the N*ional Lw C{￿)munItY Fund. Th¢ Tdley building itself welcomed many eommuniiy 8roups and aaiviiies ho*ing nK¢ting5 visits for Leeds Youth Council, Women Health MaN¢r& Lccds PlaYhW￿ and th¢ Laymèn's Buddhist Ctygathl￿tiots amothg others. In July. SCOPE.. Youih Colleaiv¢ 118-25 y¢ar-old5 driving change for disabled p￿pIt) hosted iLcds'5 firA Disabiliry Pride evenl: aciivisis. em¢rgen¢y servitt& City ¢oun¢illors and over a hutwjttd disabled people of all agcs cam¢ 108fflh¢r for an event that-brou8ht disablEd ialent lo the forefront aEMI provided disabled cornmunity wilh wcll4le5erY¢d JOY xrtsss The Tdley buildin8." Our own teams supported Leeds Pwide with Pride family work51w expl(King ￿lf-ExpreS￿l)n and fashiorn funher devcloping ihe5e aclivilie5 for L¢a5 Light Nigh¢ when w¢ ¢r¢¥ed 8th immusive li8hi-thwn¢d enVir￿menL complek with thea¢Te lightin& fog d a lighi-themed playlisL From (ktotrKr. (kn Community Takwvcr an upbsi(Wb of mnmwiity4riven activiiie& -Big Up's 2-day f¢yiv)l of art and srfial change show￿ exhibitions and live preS￿￿tIonS of vital work being done by communiiy groups in Weyl Yortshirq includiNg PyThm¥J of Art& Lrryjs CoDynLmity Musi¢. DJ School UK and Hello HipHop. -In Noveth we hosted thc OPEnin8 of Lttds Baby Wttk. offerin8 Sp￿¢ to a IKJSt of o[g￿ls8¢10￿s, iniliaiiv¢s and bllsinesses promotin8 Wellne￿ in babies and Iheir parents ovu 6 da)'s 2267 pwtiripants ihruugh our dcffts. Aciiviiics included Beatrice Le¢ Knowles'5 won¢krful ￿TlY￿ inSt•llation and Feed Pmieci by Elaine Spei8hi, bringiTrg iogether mulliple 3rti5ts' work aboui feeding infants and chikl mritbg i*eni on to be exhibited al Lttds Art Gallery. Our artisi-designed Tiny Trfley Studio (for under Ssl Proved Ls t￿pular &$ ever.. io tn5ure thai families fflighi (onlin￿ to acr¢55 this much-loved arti￿- designed play space. it ￿75 subsequenlly agrttd that thi5 woukj lo L¢¢ds C¢nirnl Library, from Svmmer 21f24. -Le¢ds B¢ckctt Univw5ity FITK Art Siud¢nts prewlled L¢ a wearable. expandable Sc￿lPtUre anima*d by Iweniy perfomiern who navigaied The Tdley's gallery spxts in this wonn-like svucwre. -Northern School of ConiemEM)W th￿¢ pre5cn*d foid.fall.n¢5L a mditativc. in*tdi*ipliwy piece playing wilh ditrerenl rspeclives ofall 9 of oUr8￿1¢r1e$3tsd the #trium thro￿8￿ performance. .Bobby Baker worked with Women's Heahh Mallers io cre￿¢ protra banr*rsand do 4 51omp wo￿￿10p. Thcse final weeks of The Tdlcy's public opeTations stwiking for the *•mith of pw)k's resr4)nse& their graiiludc for what The Teilcy hwj #rKI d￿lT sat&w at thecomiJbÈ tlosure. Fln*rttlal rtvitw As r¢port¢d aiN)v¢ 2023.24 has been a year of trdnsiiion Ihe th￿ilY i¥hich Ihe closu￿ of the Bar and Kilchen following lh¢ ¢nd of ih¢ lease of The Tdley. Althugh this gait io reduciion in iurnover there was a substsniial redutlion in overhead exptndilure. Irt¢M￿ reduced ￿ £1.251277 1£1.507.142 in 2021,231 wjd 0￿[*1￿$ ¢%￿ndIt￿re r¢dutrd lo £1,159,1751£1.617.01 l Ill 20221231- This r¢sult¢d in on op¢Ming profil of £92.102 for the ytar. which is rnuch improved on the pr¢Yiou$ yeat's deficiL 1£109.8791. Project Space Leeds Company Limited by Guarantee Trustees. Annual Report (c**1￿¢4) Year ended 31st March 2024 FinADtial review fcoThrfAtsed) The ¢onfimvAtion in NovemF*r 2022 that Proieci Spxe Leèls will Conlin￿ io be an Ans c0￿ClI England Nat￿nal Portfoli Organisaiion (NPOI fTom April 2023 10 Mort* 2026 llow extetkled 10 Manth 2027 ensures ihai tharily will continue to b¢n¢fit from this vital corE fur￿l￿g, enablES the anthition and a¢cessibiliiy of WT pro8rammes. Generous support fro￿ Lccds City CourKil, National L￿try Commwiiiy and Othe￿ have 011 coniribuied to OUT ivork Ihis year. Reserves policy The chgriiy asms to have unrestricid Ifr¢l group r¢%ry¢ kv¢ls5uffTrcietii io ¢ov¢rth¢ cost of six months of overhcads relaling lo chariiable aclivili¢5: in Marrh 2024 thi$ swrn ¢qu*d ￿ arwox_ £160.(KK)_ The iot81 resthwes held ai March 2024 were £323,330 of which £279.434 was ￿ld in unrewicled fut¥Js (£196.040 in 2W22,'231. orthis sum. £120.(MM) has ￿en design&ed by Ihe trusiee5 to fund Ihe potential move lo new prcmis¢5 a￿] contrit￿1¢ to rxpcda capital costs of*y new premisc5. Fllods in deflcit Th¢re are cumity r￿d5 in deficit as ￿ 31 March 2024 {2023.. £nil). Future devthwmentS As the search for a r*w. pcrnW￿nt horne ¢onlinue4 owr is keeping a 118hi fo¢us on the ¢harity'S ihree core areas or aciLVlly, but on a broadeT gcogrdpthiral rallva5'. Exhibiiion". w¢ arc suptMTrrting Benaiah m*hes￿'S preseniation ofTown lstand as part of the Grenada Pavilion at Ihe Venice Biennale in April 2024". latw in the ive plan this work in Huddersficld. We are explorin8 with lh¢ t￿rn at BD25 how we mighi th¢ ¢oni¢mponry vwl arts pmBt8mme for the UK City of Culiure year, with excitin8 )J)ssibilLlie5 cmer8in Anisl developmeni.. dis¢L￿10n$ are under way with Br*lford's vigjal wrts C0￿munity arnund iaik)rin8 our r*xt artist d¢v¢lopm¢n¢ iyogramme. FIx¢i¢< for ext1￿￿(1]n4ry vi*418niaS fmm Bradford- with a view lo th¢ oPp￿￿nitieS kgacyofBD25 for thLssecior. Participation.. INSIDE Otrr in Souih Leeds is gaikninB pxe aTh] enugy, with ¥Jeas and OPPDrlunilits emerging weck by ￿¢￿[. W¢ arc excited by this opportUTbty ￿ mak¢ ral ¢han8e happ￿ on ihe ground. with the visual arts as a storting for p]acts and commwiityknildin We hope lh￿ the year ahewj will bring ncw Fossibilities for a rKM)d￿nI ly)mc in W¢st yolkshi￿ as Ihe poini of ancknge for this far-rtaching programme arKi a ShoW￿se for thc region's div¢Tse ¢x¢ilirtB thL We recognise ￿￿WeVer Ihai cstablishing a n¢w venue will take tim< atml are ¢ommitied ￿ d¢livuirt8 Missi￿ in imaginaiive and ¢ompelling ivays ntil this next ￿ep becomes possibk Projeet Spaee Leeds Company Limited by Guaranttt Trustees. Annual Report (ca Year 31st March 2024 Trustees. responsibilities ststernent The"fru5tees who are a150 dircclor5 for th¢ purw)S¢50f o)rnwy law. are reswKkSibk faryrywing ihe TTuAee¢ report athd the rinanriaj 5W¢m¢n15 ￿￿ordanCe wilh applira*k law aThl Uni¢d Kingdom A¢¢ouniin8 Stand8rds {Uniied Kin8dom Genenlly A¢¢wa Acwunling Prn¢ti¢¢l. Company law T¢quircs th¢ charity Tn￿1¢¢5 to PT¢rAr¢ finJ2KiaJ SWcmertis for¢*lt )'ear ivhi¢h give a artd fair view ofthe stai¢ of affair5 of the chan￿b]e company a￿j the incoming resou￿¢5 applic311￿ tsf resource& incI￿lTrg the ineome and expcndiiure. for Ihat ptyiod. In preparing financia] 51at¢ffl¢nl& ilK Tn￿¢¢$ arc r¢wbred 10: sclcct suilablc accounting ￿lie1c5 aTrJ ¢hcn apply them con5islently: observe Ihc A￿thtrJSand witKipks in Iht aw)li¢abk C1￿111¢S SORP. make judg¢rn¢nt$ aThJ *¢ounting ¢51sThtes thHt r¢asoJwbk and PTthL slaie whether arwicablc UK Accoumin8 Stsndarts have bccn followed 5ubjea to any mat￿1￿] d¢pArtures dis¢los¢d and explained in th¢ financial yatemth prepare ihe financial st￿ema￿ on the 80th18 trA￿eM unless it 15 InaEw￿8te to presume that th¢ charity will Colllinue in trtLsines& The T￿$1¢¢$ are responsibk for kttping adequ￿¢ *¢ounting r¢¢ords that *e wifTr¢iertt to show and explain the charity's IransaCtion5 and di￿11￿ with Trasonabk arrurdry It any tIry￿ r]na￿la1 w)￿tion of IhE chaTiiy and enablt them io ensure Ihat ihe financial 5tst¢ment5 cojnply with the Companies Aci 2{￿￿ Thcy are a150 rw5ible for 5afe8llatding lh¢ &ss¢ts of th¢ charity and for taking r¢a5Lmabk stCP5 for Ihc pwevemion aThJ drt¢ction of fmvj thd (HIK¥ iwlariiies. Auditor Each of the ￿T50￿$ who is a TTu*c al the d* of approval of thi5 fcFrf>rf r￿fInD5 th￿. so far a5 Iky are #w￿. th¢r¢ 15 no rckvant a￿11 inforM￿lL¥l ofwhich the Ch￿Ity's a￿lI10r is ¥n•wJff', Wmi they have tskcn all steps Ihal they ought ￿ ha￿ laken as a lo make ihcrns¢lves aivare of any relevant iudii information and 10 eaablith th4 th¢ ¢harity's auditor is of inform*ion. S2Eats Accounlanls Ltd are deemed to be re•appllintcd LS aLditor5 under 5CCI￿ 487I2lof the Companies Aci 2(M)6. The Tru51ce5' armjual rcwKt were approvd on 13 Dc(cffllw2024 and ygned OR Wthifoftht ofTrnMecs by.. Mr F J Finloy Twsttt Project Space Leeds Company Limiled by Guarantee Independent Auditor's Report to the Members of Prnj¢¢t Spa¢e i￿edS Year ended 31st Mar¢b 2024 Opinion We have audited ihe group and F•r¢nl compw fLnwKial of Proj￿ Sp￿C Leeds Ithc chariiYI for the yw t￿led 31# March 2024 which comprise ihe consolidated 5tst¢rn¢nt of fitwi¢ial odiviti¢s lin¢luding iD¢om¢ and expenditure counfl, Ihe sT￿lp and charity Aatemcnt of finaKial posiiion. *at¢m¢ni of cash nows and the relaied noie& iE)cludin8 a summary of SL8nificani accounting Frf)lieies. Tr finaKial reporting fram•vork t￿1 has beert applied in iheir pr¢wation is applicable law and Uniied Kingdom A￿o￿lling StrAMIKd& including FRS 102 The FinaTrcial Rt]xTrrtin8 Standard applieable in the UK aTrJ Republic ofirela￿j IUnir¢d King(knn Generalty Accewed Accounting Praciicel. In ouropinion the fina￿1￿1 sia14yn¢nis". - give a true and fair view of ¢h¢ s￿¢ of the groLV and chariilble atTaits ￿ ai 31 March 2024 and of the Erotsp's incom1t￿ resou￿5 and a￿licatiOn of reSw[￿ including irs irK¥me and expcndilurc for thc yeat then ended: . have l*cn pre￿ iti with United Kin8(k)m Generally Acceped Accounting Pracli¢e,' - have been wew¢d in xcordaned in the a￿J1[0￿$ r¢sFthsibililies for th¢ *Jdit of the financial stsiemtnts sttiion of our re￿rt. We art indeEMd¢nl of ihe ch￿lty in acrordanc¢ with ethital requitemenis are relevani lo our audit of the fJnarKial sthiemenis in the UK. inch￿1n8 the FRC'5 &hical Standard. and we hhvt fulfilled our her dhical reS￿*SibilItieS it) xcordance wilh these Tequircments. Wc be)icv¢ that ihc audit CvidE]￿¢ w¢ hav¢ obtained is sufficieni and appropri*e io providta b&%is forour (vini￿. CoDtIusioDS rel•tinK to tOA¢ern In audiiit)B Ihe finaneial sThiemeThi& we have Concl￿ the usc of th¢ going ronc¢rn basis of r4¢ounlin8 in the rKepardtion of the fmancial staiemen15 15 appTowiate. Based on Ihe Work we have wforne(L w¢ have not ideDtifKd *)' material wi¢trtatthties relating io events or condiiions ihaL individually orcolleciively, may ca* ￿gnifican1 doth on ihe company's abiliiy lo conlinue a5 a going cotlcem for a Peri￿1 of ai le&%1 iwelvc monitLS from when thc fmancial AaterrKnts are authwixd for i55W. Our rcsponsibilitiC5 and the r¢5wfjibililics of IIK tnjswes with re￿￿ w goiog cor￿eM descritr*d in ihe relevani scaions of Ihis rerM)rt. Other iAfoTmAt*)n The Tnjstres are respon5ibk for lh¢ other infornMl¥m r(wtginrd within th¢ annual rel￿. The infom)ation comprises Ihe infornalion includd in the annual rqmm. oth¢T iharb th¢ finaKial s¢a¢¢m¢nts and (rtjr auditor's rerM)rt thereon. OUT opinion ￿ Ihe financial stat¢meTh15 does not ￿¥¢T Ihe other infonTthtion ex¢¢pL io ihe exiertl Othe￿iSt expliciily sthied in our report, we do express any fom of a55urwK¢ c(MKIu5ion there￿. Our resp0Th5ibilily is lo rtw] ¢he olkr infom*tion an¢L iv &)ing so. rw5ithr whdher the other inf0m1￿10n is materially inconsisienl with the fina￿la1 sra*menis or ￿￿T knowkdge Lthinvj ID the audil or otherwise aJyea￿ io be maitrially missiaicd. Ir we ideNify such m*Cri￿ inc￿￿Sten¢1cs or appaT¢nt m*rial misslaL¢mcnis, we ar¢ requi￿d io determine whdher this 8iYes rise 10 a mal¢rial misstht¢rneTri in ih¢ firW￿la1 **crn¢nts ihemselves. If. bwd on the work we have [thorn￿d, we conclude illat Ihere is a material misswem¢nt of Ihis oiher inform*iort. we are required io report lh￿ faci. We have ThMhin8 kn rerffl in this regard. Opinion5 on other A*tters prtseribed by the COM￿oieS Att 21116 In our ￿)In10Th, based ￿ Ihe work under￿k¢n in the course of ihe aL¥Iii'. the infomiaiion Bivcn in the Truxtts. r¢pK)n for Ihc financMI yew for whith th¢ fin￿1￿] sthiements ar¢ prepared 15 con￿51ent iyiih the f￿ancIal *atemcnlS: athl th¢ TTU51¢¢5' r¢wrt bas t*M prep￿1 in accordar￿e with aA)licable legal requirement& Project Spaee Leeds Company Limited by Guar*nt¢e Independent Audilor's Report to the Members of Project Space Leeds fcoNiihx¢ Year ended 3151 March 2024 Matttrs whlth we ire rtquired to report by ex¢epl¥J In the lighi of the knoivl¢dgc and undcT5tandin8 of ihe charity arwj its envir(thmetti obtsIti￿ in the course of th¢ audiL Ive h8Vt noi identified material MI￿al¢mentS irb tk Truste￿ reF*Jn. W¢ hav¢ whit)8 io re￿￿ in respett of Ihe followi￿ malter5 in Tel￿￿)n to whi¢h ih¢ Comp*Jies Ad 20(kn rcquircs us 10 )rt ￿ ytML if. in our opinion= a&quaie aCcO￿lIng T¢cords have been or rewrns th4ua¢c for awjii ￿¥¢ ￿1 been ￿ctiVed from branches rwt visii¢d by ￿ or the f￿￿cIal 5Memcrtisare not in a8re£meThi with the xcountin8 record5 ow cuthin disclosurcs of Tw51cc5' r¢munrralion sproifK4J by law are Thx m*: or we have not reccived the inforM￿lon aTrJ explanations wc requi￿ for ourawJiL Responslbillti¢s of Trustets As explained more fully in the Tru4ed responsibilities the Truskes Iwho are a150 the directors for the wrp ofcompany lawl are reS￿l51ble for the Wcwliort of the fir*ncial sthtrments and for IKing 5aiisfied tha¢ they give a irut and fair vi¢w, and for $u¢h int¢mal wtrol &$ the TtlLYttS ddern)ir* is tKcessary to enable th¢ PTep3Tation of financial statements th￿ frte from makrial misswemertL dw¢ to fraud or em>r. In preparing the finan¢ia] slat¢m¢th￿ the Ttuyees *e restthsibk for &wssing the charity's ability ￿ wDtinu¢ as a 8Oln8 concern. disclosing. & ￿p11(abl< m*iffs r¢lated io going concern aThl using the Boing conccrn basi5 of acwunling unless Ihe Tru￿¢¢5 eithcr in1c￿l to liquidate the clwity orto cease (waiion& w have no rtalisiic alternative I￿[ io so. Auditor S Tesp0115iblliliu fur the amdit Df Ihe fillxacial 5tstemellts ¢hT objeuivc5 are to obtain re&sMablc aw]r8rttt atthi whdhtt iht fnmncial Matcments a5 a whok Are fTee from maierial mi5Mal¢mcDI. wh¢th¢r du¢ to frn]d OT etror, and to isw¢ an aiKlitot'S t¢P)rt thai tnclth our opinion. Re#son#ble assuvdnce 15 a high level of assuran¢¢ but is MI i guarant¢¢ ihai an audii cotsjucted in acCordar￿ ￿'Ith ISAS IUKI will ali¥ays ddecl a mal¢Tial rnisstatemeot iyhen it exis￿ MiSs￿emet1ts can arise from or eTror and are considered maluial if, itKlividually or in th¢ hggr¢gate. Ihey could ￿&sortably bt ex]ktied kn infl￿n¢t the economic dcci5ions of us¢rs token on the basis or these finaDcial ststem¢Dts. Details of the ¢xl¢lli ¢0 whi¢h ihe audii was ¢C￿s￿le￿d Capable of d￿￿1￿8 irreguknrities irKludiDg fr1￿ nort- ¢omplian¢e with laws atml regul*iot)s are sei otsi below. A further (k5cription of wr reSw￿$lblY1lIeS for ihe a￿di1 of the f￿￿¢181 statemen15 is loc￿ed on the Fithwiaj Reporting Council's w¢bsit¢ at.. www_r audit . This dewipil￿ forms pth of our auditor 5 fciM)rt. Ext¢nt t• whkh the •¥dlt co￿l4ered up*bit of detttti•% irre2*knritxs iNludipg fr*ud Irregularitics inclwjing fra￿1 or¢ ol noD-¢rffi)pliaD¢¢ with ]aws aTrJ regul&ior& We id¢niifJthl amd asse&sed ihe risks of [n4t¢r￿1 misststement of Ih¢ financial yaiemthts from iNegulariiies whthher due to frdwt or error. discusscd thes¢ beiweeJ> our audit ieam mtmtr*rs. Weihen des1p￿d*￿ perfoymedaudii prwdurcs rc5POll5iv¢ lo tlwse risk& including obthining audit eviderfe sufficient athl apwwe ￿ pro¥idt a basis forotsropinion. W¢ obtaincd an Und￿￿￿￿1n8 of th¢ le881 regutaw fram¢wm*s wiihiTh which ihe charithblc ¢ompany Opt￿t& fo¢usin8 on those laiv5 aThl regulailo￿ thal have a direct effect on the daenniThalkDn ofTnaterial arnO￿ts and di8c105UTes In Ihe financial Sts1¢￿e￿Is. The laiys and tcgulaiions wt consideted it) this c(M)I￿ were the Compani¢s A¢1 20(kn tog¢ther with the Charilics SORP IFRS102) 2019. We assessed the re4Uirtd eomplianee with these Laws aThJ re8ul*ions as pan ofour atyjii FYo¢¢durts on the Telaied finaneial alernent iiem& In Wjdiiio￿ we COTb5idC￿d provisions of other laws Jnd t¢8ulatths ihat do w have a direcl eifecl on ih¢ financial stale￿ents bui compliance wilh ivhich mighi be fundamenlal 10 Ikchariirtsle company'sability. to opcraic or 10 8void a m*rial penali). We also considered the (yportunilits and Ir￿￿E1VCS that may exjsi Ii'iihin ihe chariiabl¢ company for fraud. The laiis and regulali(ms ive consi r¢gul&ory with the Chmiiy Commission or oiher regulatory bL¥the5. Owing 10 ihe inkreni limit￿10￿5 of an wyjii. ihere is an unavo*J*)le risk ikn we rrray rh)1 have deieaed 50nx maierial Mi￿ateMents in the fInar￿1￿1 ￿￿en￿ls. even ihough we have prrwly plan￿d [*rform￿l our audii in accordance wilh iiing siandards. For exampl& rhe funher reTh)ved nrn-Ly)nw1i8￿e wih laws and regulaiofts (irregularities) is from ihe even15 and iran5Kiions reflectrd in ihe finanrial ihe ks5 likely Ihe inheremly limiied pr￿eth￿ts required by diiing Mandards would ideniify it. In addiiion. as wilh any *Mlil. there remained a higher risk of non-d￿e¢Ll0Th or irregulariiics. Ihest may involve collusi￿. forgery. initniional ornissions. misrepresentsiioTh& or the override of inicrnal controls. We are resp(￿5]ble for preveNin8 nOn-c￿￿11a￿e a￿1 canmt extKYted 10 (knecL non-LYmipliance with all law5 and Tegul*ion Use of our rew)rt This report is made solely 10 the cornpany's men*xts. ￿ a tmmly. in ￿0￿18￿e wilh Chapier 3 of Part 16 of the Companies Aci 2(K)6. auth"I work has 1￿c￿ uth&ktn 50 th* we mi8M st*e to the eompany's mernF*ts Ihose m￿terS we are rwuired 10 slaie io ihem in an audiior's rq￿rt and for N> ryr[m￿. To ihc fulle51 exicnr pE￿nilled by law. we do n xcey or a55ume responsibiliiy io anyott otller than ihe cOm￿Y and the company'$ as a body, forour a￿1￿¢ wo￿. for this repL¥l. or lorihe ￿nionS ￿ thave f¢)rmed. Susan SeAman BA FCA Cl(yr (S￿lorSta1￿ts)ry Auditor) For aTrJ on ￿half ofsagars ACc￿nia￿S IAd Chartered accounian15 & s1*u￿ry audit Gresham H￿se 5-7 St Paul's Sire ISI 2JG 13th DeCtMtr￿r 2024 12. Project Space Leed$ Company Limited by Guarantee Consolidated Statement of Finaneixl Aetivities (including income and expenditure 2teOllDt) Year ended 31st March 2024 2024 2023 'n￿st￿lc1¢d Restr1￿ClI fur Endoivmeni funds Totsl hnds Tthal funds Note 1￿come **d endowments Don￿lon5 and l¢gacie5 Charitable aclivilie5 Other tradLThg gcliviiics Inve￿men1 Other income 45&642 47235 544.519 695 75.484 70.716 55.916 527.428 103.lsi $44319 695 7S484 613,962 74,591 784,948 180 33.451 Total ineorne l.124J75 12&702 1351377 1.507,132 Exptnditure Expendilure on.. Raisirt8 funds Chariiable aciivities (624.914} 14(K>.049> 1624.914) 15343611 (874,7861 1742.2251 (115.3791 1118331 Total expenditure 11.030.963> (115J791 {12.8331 {1.617,0111 Net Inc•rnel(expeDditurn) and et movement in (4nds 93.612 11.323 {12M33) 92.102 {109.8791 Reconeili*tion of funds Totg) funds broughi forward Total fvnds earrled forw*rd 25 185.822 31573 12.833 231328 341.107 279.434 43.896 323J30 231,228 The siatemeni of fuwi¢i81 adiviiiu include5 all gaiTh5and Ios5ts reL¥Jgnised in the year. All in¢otne and cxpendiluT¢ derive fr(Mn eoftiittuing adiviiie> The notes pates 16 10 30 forn part of the5E fiA*Atial siattment 13- Project Space Leeds Company Limited by Guaran¢ee Consolidated and Cbarity Stalement of FiDancial Position 31st March 2024 2023 Gr￿P Cknrity Group Charity Flxed 455rts IDlangibl¢ ass¢15 Tangible fixed Assd5 Inveiimenls 17 18 19 IJ U74 13340 2J74 19.272 77.623 19.272 60,015 l&1 15 96.895 79.288 Currertt assets Siock Debiors Cash 01 bank and in haTrJ 15. 100.670 23&909 10.183 337.739 10,183 164.463 67.727 352370 J49,128 355.545 232,1 Creditors: #mounts fAlling due within one y￿r 22 I4￿5¢ 146ffj42 (181gM) 142,9491 Net eurrtnt assets 307316 l72,64l 189.241 Total assets kn eurreTrt liabilili 318.601 269.536 268,529 D¢btor5: 8mo*rtts fallill8 due after more 11 Ib3n one year Creditors: *mo#nts falling due •ft¢r more 24 one year {38J081 Net assels 3LIJ30 31WI 231,228 268.529 Funds of the eharity Endoiymeni fwds Restricied funds Unreslrictcd r￿d5'. Oih¢r unr¢stria¢d fimds D¢signAi¢d funds 12,833 32.573 12,833 32.573 iS9A34 120ml 154.705 120,( 185.822 223,123 Tol41 ¢h4rily funds 25 323J30 31&fAII 231.228 268.529 These financial 5W¢rn¥YJts wu¢ approved by Ihe IM)ard ofTrns*e5 a￿1 authoriscd for is8￿ on 13th December 2024. and are signed on behaiftsf the board by-. Mr F J Finlay Trusle¢ Regis*red oifice.. Unli 18a 31k38 Dock Slreet Lttds LSIO IJF Company reg1*r￿10Th numb¢f.' 07123227 Charil). registration number.. 1148716 The Notes on pages 16 to ￿ forTh p¥rt oftke5e fin•#¢i*l S￿teMent 14- Project Space Leeds Company Limited by Guarantee Consolidated Statement of Cash Flows Year ended 31$t March 2024 2024 2023 C4sh IIow5 from operating aetivltles Net lexpendilureyirb¢ome Adjiisimemsfor.. Depreciaiion ofthngible fixcd as￿$ Amonisaiion ofiniangibl¢ &ssth5 Inicresl paid ch0￿se5 Irt." Trade a￿j oiher debtOTS Trade atld other creditors SioL*s 92,102 1109.8791 49.738 0,032 79,183 6.565 3,888 J487 {134.6311 l iJ58 29,101 182.2551 13.lJ621 (76.4591 Cash gEntratcd from OTth 117.177 CAsh Ilows from investing adivities Purthos¢ ofian8ible and iniangible &ssets PrLKttds from sale of ian8ible a%sets Ne¢ ¢osh ￿Sed in inve￿Ing aciiviiies (17.6201 30J 300(A) {17.6201 Cash flows from fi•*ntlng aetlvitles Repaymcnt of im￿lDw￿ Int¢rc5t paid 146316) IlJ91) {33.2501 13,8881 N¢t ¢a5h us¢d *tivilir5 148,4071 137.1381 iY¢l (de¢r¢Aseylnerease c*sh a•d easb equlvaieats C4sh and ¢•$h ¢qulv*lents at beglnning of year C¥$h •nd ￿$b equivgleDts at tnd olye*r 770 370.186 337.739 238.969 The no1¢5 p•ge5 16 to Nl forw tylthts¢ 1Sn*vJciil st*tement Is- Project Space Leeds Company Limited by Gu*r2ntee Notes lo the Financial Slat¢meDts Year ended 31st March 2024 Gener•1 inf•rm•tion The charity is a public bcncfit ￿tilY a5 by FRS102 aThl a private company limiled by guarw)*e, regiaered in England and Wak5 and a regi￿tI¢d ¢hwity in En8]and and Wak5. The athes5 of the reg￿rd o(fJce is UThii 18A. 30.38 Dock SireeL L¢￿& LSIO IJF_ St•ttmeNt ofeornpliance Thcst financial ststements have been wepw¢d in ¢ompliaKe wilh FRS 101 Tr Finmcial R¢portln8 Siandord applicable in the UK and Ihe Rwibli¢ of Jreknd.. the S￿eme￿ of Recommended Practic¢ appli¢abl¢ to chariti¢s preparing Iheir xcounts in ￿cOrdanCe with the Fir￿la] RqMyiin8 SiaTrJard applicable in the UK Republic of Ireland IFRS 1021 IChaTiiies SORP {FRS 10211 •J th¢ Comp*)iesA¢t 2rffi. Atcountilg pollcies Bisis of preparntbj The financial st*emcnts have bccn wepucd Orb the hithri¢al ¢0￿ b&sis. The firtancial siaterrtnts arc pr¢parcd in whi¢h is the fUn￿lOn11 currency of eDtity. The financial St￿eMentS art presented in urbits of £1. Goln8 eovjtern Fuiure fundinB has secured up lo euty 2027 for￿&5￿ have btert prtpartd for the Friod ￿ 31 Mw¢h 2026 which indicate c4th ball￿¢S will runain foTth¢ whok pui(rfl. The trustte& thcrcfore. have made an info￿ed jwJgem¢nL at the lime of aM)rovinE the financial slaiernent& ihat Ih¢r¢ 1$ 8 reasonable expectation Iha( ihe tharity has tf50UTCts io contirLUe in operatioThal ¢xiskrKe lor ihe foreseeable future aThJ ￿ th¢ acwjnts havc prepared on a goiti8 c(KKem basis. C•i$olidatiOA The Consolidated Swerneni of Financial Acliviti¢& Consolidatal C2th Flow Ststrmeni and Consolidated B#I￿re Sheei include rhe flnancial sralcmeNts of th¢ ￿Mpan} a￿1 its thidiary Lmdertaking rnade up 10 31 MaTrh 2024. The rtsults of subsidiaries sold or Kquircd aTe included in the St￿¢￿t￿l of Financial Aaiviii¢s up to, or frotn, the dale conirol passes. Inira-group salcs arwj wofrts ar¢ elimirt￿ed fully on cor￿>1]dation. The cnlity hLs ¢x¢mpiion from preseniing its ￿t￿m50]i￿￿ed Sthtrmeni of FI￿*?1 ActsviLies seciion 408 of Companies Act 2006. Jud8emt•ts *Nd kry S￿rreS •teslim*tw Mneert*i•ty The prepa￿l0￿ of the financial require5 mat￿1 tts make jud8emenis e51imale5 and assumptions that affeth ihe arnounis reported. Th¢% cslimatC5 J￿Jg¢M¢￿ts irt t￿lIn￿allY revielved and are based OD experience atml otheT faeioo including eX￿¢tatIonS of f￿￿￿¢ are b¢l*val ttsoTrable un￿r ihe CiTcum*ance5. Fund xt¢ouNlin¥ Unrcstricied funds arc available for th¢ di$¢￿70n ofthe Tn&ees io fU[tt￿r any ofihe charitys puTro￿. tksi8natcd funds are unrestricted fur¥15 rdrmthcd by the Tnts¢¢¢s forparticu￿r fLrture PTOieCi orc0mmim￿nl. Re51ricled funds arc subjeeted ￿ reMrithion5 ffl Iheir ¢XpeThJilU￿ d￿l￿ed by the dmor or through lh¢ iffln5 of an appeal and fall inio one of tlvo Sub-cl&k￿￿' restrbcled in¢osne fwmts 01 endowment funds. 16- Projeet Space Leeds Company Limited by Guarantee Notes to the Financial Slat¢m¢nts Year ended 315t March 2024 Attouttting ￿litieS (eo•thelJ Incoming rewurceJ All in¢oming reswrccs art rcco8niscJJ whcn the group h35 ¢Dliikmcn¢ to th¢ rt¢¢ipi is pr(knble and amount can be mwured with sufficient rclithlity. Turnov¢r is d¢Tived from ih¢ provisioD of 8(A)ds and seryiLr5 ar)d is Stated after trade discount& other sales and rKI of VAT. Further dd•ils on specific income ￿reamS ue provid¢d below. Grunts recelmble Grn)ts ar¢ I￿l￿ded in the Siatemenl of Financial Adivities a r¢teivable b&sis. The balance of income ￿￿E1Ved for s￿lf￿ purtM)ses bul exrKrMJed during lh¢ year 15 shown in rckvani futKts on the balance sheeL Where incom¢ is received in adVa￿e of entiilemeni of receiN its recogniiion is dcfeTra I[￿)￿￿1 in ¢r¢dhiors ¥ deferred incixne. Whcre entitlemen( occurs beforc income is received. the incomc L5 accrud. Capi¢J grdnts are rtcognistd reccivabk and t￿¢ defcThed over th¢ life of the assa on whieh ihey are expended. Unspii amounts of capital 8rani are r¢llec*d in the in r¢stri¢ted or¢rtdowmenL fund Grants which are given forspecifK service sKovi5ion xe within in¢oming resourees from charitable activitie Grdnts whert lh¢￿ is tho specific servitt provisM)n are IrKI￿ within don*w)ns otKI legacie& Granis receiv8ble which are ¢apiwI in nature orare ora ￿er￿ra] natur¢4re iKluded within donation5 atKI legacic Dooations are Yecognised ￿ a rec¢ivable basis wlKr¢ ¥¢ttiy 15 wobabk and th¢ Can b¢ reliably measured. hetlAeo• (hher income is recognised in the ycar ir is rtteivthk arhj to thccxlcnt th¢ have iwi pmvided or on compleiio f ihe service. Rental inrom¢ re¢¢ived ut￿￿tr(￿e￿ins le￿ is cJediie41 ￿ in￿)n￿ on a suaight lir* Imsis over the le&se it￿. Do￿￿ed$¢r￿let5 dlldzljb In kind The vilue of diM)aied services and gifts in kind provithd ￿ ihe cltariiy aTe recognised ￿ Ihew optn rnavkd value in ihe yeor in which they are ￿ttIvabk incoming ￿5￿Tr¢s the bcnefit to th¢ ¢hwily reliably measured. An equivalcnl amoimi Is Lncluded cxpcndiiure under ihe ￿￿Vant heading ITh ihe Statement of Financial Aaiviiie8 exctpi where the 8ift in kind w&$ a flxed &ssa in whK-h case th¢ amount is inclllded in the arpropriaie fixed a55 ¢Ai¢gory and depreciated over ihe useful ec￿￿￿niC life in accordance with the ch¥iW5 PDlicies. R¢soyr¢¢s expended All expeN1iwre is reco8nised in the wiod in whKh there is a k￿1 or cw51ructive obl18ati(￿ th make payment lo a third party and has trten classified under hcadings that aggregate all c05t5 ￿lated to thai ¢￿t80ry. Where costs cannot b¢ dir¢¢tly altri￿led to particular headinRs they have been allOc￿ed on a basis ¢Ort$iaent with ihe use of resource Ddails of the basis of all￿ar•On of sup[￿n costs are given in ihe notes ￿ Ihe finan¢ial st*ements. All crediior5 a￿j provisions for liabiliiies are alI￿led on Ihe same Irt￿.5. All Tesouf¢tsexpEndcd are inclusive ofirrccoverable VAT. Expendi¢iir¢ Ixi raising fwds iftclth all expendiiure incurred b). a Charl￿ 10 raise furmts fw its chariiable purrA)se5. 11 in¢lud¥ the costs of all f￿ndraising &WVtiie5, events and rton-chariiable ITwJing aa1vili¢￿. These arecosis which dIr￿}Y relaie ￿ ￿tIvitieS which fimhcrihe clwritabl¢trtJi#tives of lh¢ charxty. Inl¥n¥ihlE ajset IrLtangible a55ets are iThitially recorded at crrt art subwutthly $￿ed at wsi less •A>' x¢umulaied amortisation and iThpairm¢ni loss¢s. 17- Project Space Leeds Company Limited by Guarantee Notes to Ihe Financial Statements Year ended 31st March 2024 A¢eoyM¢lh8 poll¢l¢$(¢owi•w¢&) Amortisatton Atnorti5aljon 15 talthLlatal so &% to wriie off the tOSL of an a&se4 IL<8 its eaimated rtsidual Val￿ over iht *L￿r￿[ life of that asset a5 folk>ws.' D¢v¢lopm¢nl f0$15 If ther¢ is ajj indicalioD that tlwc has bc¢Th a signifwi dw)g¢ in amorfisalion rnt< us¢ful lif¢ or residual YaJu¢ of an inlangibl¢ a5seL the am0rtisat1￿ is rEVi5pJ prospe¢iiv¢ly ￿ refk¢t th¢ new e*imat¢s. T•N¥ible 455ets Tangible a55¢ts ar¢ inilr4lly rccorded at 5Ub%q￿tty ststa 1¢55 any x¢urnulaied d¢pre¢iaiion aNI impaim*nt losses. Depre¢iitioH Depre¢ia¢ion is ¢a]¢ulakd so as ￿ ￿11¢ off th¢ Of * ￿¢1. kss its rtsidty41 value, over the useful e¢owMni¢ life of thal asset as follows." Short leasehold prop¢dy Fixture5 and fittings ovtt the pts1￿ of th¢ ka 3wl0yv￿5 Investmtnts FiK¢d asscl inY¢51mcnt5 iniiially recorded at fox and subscq￿lIY Yatd at fQSt1¢55 gny impairD]¢nt Ios5¢S. A fillancr41 ass¢t or a financi￿ liability is T¢wiwJ only whm th¢ enlily b¢wm¢s a P•Tty 10 the ¢ontraaual pro¥i$ions of the illslrumcnt. Basic fina¥KiaJ in$tW￿￿TrI5 initiolly Ye¢ognis¢d a¢ the amoun¢ i¢¢eivabk or payable including orty rel*¢d ¢rATtsa¢tI￿ unkss the *rkngemeni ¢tyJstittLies a fthart¢iiiB transaction, where it is TecogDis¢d a¢ the pr¢sent value of the fLllwe pAy[￿ts a tnaTk¢l rat¢ of i￿tere0 for a sirnilar debt instwrnenL CuTMt as￿1$ rurr¢ni lia)ilili¢5 arc sub5eqwntly ThKasur¢d èl ¢h¢ ro5h or oth¢r cotisideration ¢Kpec*d be ￿ld or r¢¢¢ived aTKI not di%ounted. Stotk StsKk is Valu￿ ai thc kn¥¢r of or n¢1 rr41}￿k valu¢. S¢wk5 Valu￿ th¢ fiwsi-in. fiN-ouI {FIFO} metho The ¢hon'ly 15 ¢xemw from tsx on ils Ekniable xlivitick Th¢ clwiiy is able io ¢J8im Mys¢um and Gallwies r¢li¢f. IhL5 is a￿)Unt￿ for on a T¢c¢iw5 bhsi D¢fiA¢d ti•trlb¥tiOD pl#ll$ The group OPCTat¢s a d¢fmcd coniribuiion rKnsion schan¢. c￿l￿7￿110￿$ ￿ dcfincd E(mlTibu¢ion plans ￿cognIsed s an ￿pense in the per1￿j in wllich the T¢￿ted 5eryicc is provid¢d. Lirnited by guir*n¢¢¢ Th¢ Ch￿tY is i cornpany limitcd by guaMte¢. Each m¢mb¢r ofih¢ dwi¢ablc company uThJcnakcs io comribu* w ihe ass¢ts orth¢ coinpany in the event of it being Wou[￿ up Mhile h¢'she 1$ a member. or within onc year aftcr herthe ceoses TO b¢ i tn¢mbeT. su¢h amouthi as may b¢ required. not ¢x¢¢￿ing £10 for Ihe d¢b154ThJ lth.liiies iyfore h&'5h¢ ceases io be a mcfflb2r. Project Space Leeds Company Limited by Guarantee Notes to the Finaneial Statements Year ended 31st March 2024 DonAtiOn5 aDd l¢g•ties Unlestric￿d FuThts Restrictrd Funds Tot*1 Funds 21)24 Donation5 Grants receivabk Donaled 8wd5 and 5er¥ices Otherd￿￿lort5 235.fAI0 216,696 4.346 70.786 3•6J86 216.696 4J46 456.642 70.786 S27A28 un￿tri￿ed FuThAs Rc5trscknI FU￿A5 Total Funds 2023 Doth*tions Grant5 receivable Donakd gwd5 atKI scrviccs Otherdonatlons 254.fAIO 220.660 8.152 130.550 385.150 220.660 8.152 483.412 130,550 613,962 t)Dnaled good5 and serYicc5 a￿ve inclth the following it¢rn5 whith have included ai Ihe Tru5te¢s iy ¢stim￿¢S of Ihe arnounts they would have to pay ￿ obthin 5imilarg(y>Js awj serviccs on the open rna￿¢t. 2024 2023 R¢llt and rdte5 21&696 220,(fj0 2IW6 220,(￿0 Ch8rlt*ble Aetlvlties Unrtyricied Fwids Rearict¢d F￿￿ts Total FuMd$ 2024 R¢nial i￿(￿n¢ Grants re¢eived Other charitable incomc 38J24 38J24 S5,916 8.711 55.916 8.711 47235 55.916 1O3.1Sl Unr¢Wic￿j FuThJs Rcstriaed Funds Totsl Fund5 2023 ReTrt￿ incor Gr4nls r￿Cly¢d Othercharitable income 52.087 52.087 120 22,384 120 14.187 8.197 60.284 14J07 74,591 19- Projeet Space Leeds Company Limited by Guarantee Notes to the Financial Statements (coAwAwe41 Year ended 31st March 2024 Other frTAling •ctivi¢i¢s UnTeslriclryJ FuThJs T•tsl F¥nd5 2024 UDrc51riL*ed FutKis TDtal FuTrd5 2023 Spon￿)[shIps Bar and r¢Aaurant salc$ 20.( 524.519 20J 524Jl9 41.￿0 743,948 41.0(Kl 743.948 544.519 544J19 784.948 784.948 T•t*l FyDds Unre5tricled Funds Totsl Fur¥J5 2023 FuThls Othu int¢￿St Jrttiw4bl¢ 695 180 Oth¢r •n¢om¢ UDrewiLtcd FU￿15 Total Funds 2024 Unr¢stric(cd FutK15 Total Fund5 2023 Museum and gallui¢s thx relief Other incom¢ 50.821 24.1 50*21 24th63 22.918 10.533 22.918 JOJ33 75.484 75.484 33.451 33.451 10. R¢sour¢¢s ¢xp¢nd¢d Costs of raising had5 Oth¢rdir¢rt Support TotAI Fumds 2024 Siaff co*5 Costs ofrdi5ing 295.558 l9Q923 lJ8.4J3 62{914 (ktKr direcl 05ts Sunjort costs Total Fund5 2023 Stsff w5t5 Coms ofraisin8 funds 416245 295.473 163.068 874,n6 Costs of charitsble Activitles Other direLt SuppDrt TDt*l Funds 2024 S¢affC0￿S Costs of chariiable aciivitie5 114.345 13.759 306.157 534,261 (Xlxr direcl costs Suppori costs Total Funds 202J Stsff costs C0515 ofchaTiiable ￿1Vill¢S 191.976 361.268 742.225 Project Space Leeds Company Limited by Guarantee Notes to the Financial SlatemeDtS(coa*AwedJ Year ended 31st March 2024 ExpeNditire by fund tyPE Cost of r*iiiMg fUl￿- 2(124 Unr¢stri¢ted R¢yTid¢d funds Endoivmcrti fund TDtsI FuNds 2024 Starr¢osts Oth¢rdir¢¢t ¢osts Support costs 1$¢¢ 121 295.558 190.923 13&433 29&558 190.923 138N33 624.914 624.914 Co$¢ of r*tylxi fuhds- 2033 UMre5triffled Restrickd fund5 Endowm¢rti fund Tolal Funds 2023 Staff Costs herdirrft ￿sts Supportwsts (sec 121 416,245 295.473 154J94 416.245 295.473 163.068 &474 W12 &474 874.786 Cost of eh#rit*ble activiti¢5- 2•24 UnTtsrrictrd RcATic*d Endowment T￿￿lS fuThts Total Fuods 2024 Staff costs Curdtorial costs Participation cosis Adv¢rtising and h¢rdirfft cost5 Support ￿51$ Istt rH)te 121 79.712 18J87 7.029 14.429 1,168 285J24 34.633 62,960 9.786 114J45 81J47 16J15 14.429 1.168 306.157 12.833 4c￿.049 115.379 12.833 5M26J C05t of th*rit*bk activitie5- 21123 Re5tricied rllnds Etthwffleni fund T￿al Funds 2023 Stsff coms CurdloTial c051$ Parti¢ipaiion costs Advert15ing and promiion IKr direa com5 Support costs note 121 151.$40 36.579 6,587 21.188 l.W5 342,Ol8 37.441 86.295 39.422 188.981 122.874 46.(K19 21.188 1,905 361,268 19250 559.817 163.151 19250 742.225 Project Space t*eds Company Limited by Guarantee Notes to the Financial Stalements (¢• Year eDded 31st March 2024 12. Support COSt5 Cost •f r*isivJi funds C05t of eh*rit•bk Tot*1 2024 T•tsl 2Q23 Administv*tive expeAditure Siatrcosis Siaff iraining & exwises PrinL pTha8e and staiion•y IT ¢xp¢nses Bank charges Legal & Professional TeleplK)ne Amortisation (M￿r administrniiv¢ exp￿lu￿¢ 3.339 349 122 24.488 2.563 898 3.747 102 27*27 2.912 1&20 4.258 43.510 4.148 1,592 8,258 231 13.1 261 6,565 7,197 14 320 6.564 7A59 Total adminiYTative txwditu 5274 38.682 43.956 84.952 Pr¢mls¢s ¢osts Sthff costs Rent & Rates HE*, light & wattt lrtsurantt Cle￿)ng Health & Safety 6.155 139.230 29.194 7.492 10.985 1.267 823 124 24.￿) 9.185 9.617 217J47 4S615 44.585 216.703 28.101 15.167 49.768 2.381 5.479 78,317 16.421 4.214 6.180 713 463 17.165 MainienatL¢e & Repai Security D¢weci*io Loss on dispo￿1 of ￿$¢¢$ 194 l4.058 5.166 54.317 Tottl premises tosts 129.IA4 229,445 358J09 417.281 Govern**te¢•sts St8ff ¢osts Legal and professionaj Audii and aCCo￿lat￿ fees Twsi¢es' ¢xpenses 693 11.129 9217 375 10.754 21.190 196 12,833 53 27 223 Toi)I govern￿¢¢ costs 4.IP)5 38,030 42.125 22.103 Total support 13&433 3(&157 524.336 Suppon ¢osts are all￿ted on o basis consisteoi wilh the us¢ ofrewrces. The Trusw have therniined lh￿ the mosl ¢onsiaent armi ￿liable b￿$ for the allo¢*ion is th¢ use of fv114im¢ ¢quival¢ni stsff for adminiyraiive expenses and goveman¢¢ art0 floor ¥¢a for prtmises tosts. CO￿ all￿*d to the dwitsble company's subsmliary ITh line with Ihe sgreed rechar8r ba515 t￿tween the iwo cixtwies. 13. Staff costs ThE lots15taff c051s cmployee benef￿ fDrthe reP￿IngpU1￿ areanalyscd &$ follows.. 2(124 2023 Wages and salarics Social &ecurily ¢oy$ P¢nsion5 Redur¥Jancy c05fS 389,n4 27,425 7347 641.3￿* 47.734 12.243 429.006 701.277 Whcrr approwiai¢ ih¢ th3rity ¢nlu5 ￿10 rontrx15 with s¢lf-¢mployrd fr¢¢]an¢¢ #aff for ihe provisw)n of th¢ ¢harity s s¢rvi¢¢s. This provi(ks fl¢xibilitv for theclwiiy in plamiing its0P￿10nS fot thyear. -22- Project Space Leeds Compvdny Limited by Guar*Dtee Notes to the Financial Statem¢nt$lw•4 Year ended 31st March 2024 13. Staff costs (conlltt4ea)I The averdge head count of mploy¢¢5 during th¢ yw was 251202J.. 36). No employee received employee berKfLts of mor¢ Ihan f60.(KK)during the year1202J.' none). The gTaUP oper￿eS a defined eoniribuliorb5 pens￿ schemt. The &sscts of iht scheme were held s¢porntely from those of the company. Ai the yeAr end ￿r￿lon eoniribuiions of £683 12023.. £4.5￿) were outstanding. Included within Ihis is fnil12023: £2.6131 relaling lo the gjbsidwy Iw1￿y. K¢y m•**g¢￿ent PersoDDel Key managemeni persontlel include all perws have a￿horIty responsibiliiy for plannin& dir¢cling a￿1 controlling the aciivities of the chariiy. The ioial cornpettsaiim paMI LO key managemeni personnel for 5er¥ire5 Pr￿Ided ID the chatiiy w&$ £52.010 {2023.. £53217). 14. TrLrytee remunerAtioA aod txpenses The board of frnmtes durin8 the year served on a vomnw basis and rcceived no TemuTreralion for Iheir services th¢ r(Knpany 12023". £nill. Th¢ chariiy re1Mb￿r5ed w incutred ¢xpaJw dir¢ctly on behalf of nil (2023.. 11 T￿￿¢¢$ for expenditurt ¢othllin8 £nil 121r23.. £6(XJl. (hh¢r r¢la*d ￿Y transxtifms involvin8 the Tnjstees ar¢ sel in Th)te 27. l& P4et AovefftÈAt in Nd T[￿￿ment in (￿￿1$ is smed after dJaYgiii8'. 2024 2023 Audilors Temull¢rdtiDn- a￿Li¢ %rvire5 Audiwr5 T¢Tnun¢r31ion- oth¢r 5¢ryif¢5 ArrK)rtisalion Depreciali 13J16 3,650 6.565 79,183 49.7J8 16. sTArp1¥￿d¢fitlI} of p•r¢nt tbwrity As permiitcd by Section 408 of th¢ Com￿1¢5 Ath 2[￿ th¢ thK¢ssiort in paragrnph 397 of the Chariiies SORP, Sialernenl of Financial Aclivilie5 and th¢ Incom¢ aThJ Expendilur¢ xcounl of th¢ pareTr( charity is ￿ ptesenied as pan of these financial slat¢fflcnts. "Ihe parent rhariiy's gr055 ifKLMn¢ f¢x thc r]naK￿l y¢ar was £553.81412023.. £832.835) and surplus for thc fillanrial yrdr w05 £50.07212023.. d¢fKil 0(£327:(￿1 17. IDt*ngible x55ets Charity and Croup Development Co Ai l# April 2023 Disposals AthJiiioThs 32126 18,(KlOI At 31K March 2024 24826 Am•rti51tion At I￿ April 2023 Chargc for the ycar Eliminaied on di5tX>5al At 31M Marck 2024 J3J54 6.032 18,IK)01 Clrrylng #mount At 31. M•r¢h 2024 13240 AI 3 IA March 2023 19272 Project Spaee Leeds Company Limited by Gu2ranlee Iyotes to the Financial Statements (c￿￿*t4* Year ended 31$t March 2024 l& T*llgiblE fixed x55ets Charity SIM>rt k05d￿ld Fixwre5 and PT(V¢rty fittings Tof41 Cost At l# Apiil 2023 Additions Di5FY)5als At 3151 March 2024 447.574 62.234 509,WJ8 (447.574) 155,2921 (50ZJ66) 6.942 6.94Z Dtpre¢iilit Al 11¢ April 2023 Charge for ille y Di5Fosals At 3151 Marth 2024 403.514 31.810 {435.324) 4&279 7.238 149.4491 4.1￿8 449.793 39048 {484.773) C#rryiDg amount Af 31$1 MArcts 2024 2.874 2J74 AI 31M March 2023 15.955 60.015 Croup Shffl leasehold property FixluTes and riuings Total Cost At 1st ApTLI 2023 Additions Di5P)5als 447.574 216.965 664.539 1447.5741 1210.0231 (657J97> At 31st March Z024 6.942 6,942 DepretiAfion At Isl April 2023 Charge for Iheye4r DI4￿sa]S 403.514 31.810 1435.324} 183.402 17.928 (1972621 $86.916 49,738 1632J86) At 31st March 2024 4.068 Carrying amowit At 315t M&rch 2024 2.874 2,874 AI 31￿ March 2023 44.060 33.563 77h23 19. INveJtmeAts Charity Sh4r¢s l# group •dtrtskihv Cost A¢ 1st April 202J 31st M*rth 21n4 Impgirmtnt At 1st April 2023 aDd Jlst M*r¢h 21)24 Carryimg xmo4nt At Jlst MaTth 2024 Ai 3 Isi March 2023 The chariiy ow*s lo￿* of the issued Sho￿ rapiiai in PSL EniwpTtses Ltd ¢ompiny nurnber 08246664. Th¢ add￿$ of 115 Tegi51ered offic¢ 15 The T¢tley. H￿51¢1 Road. Leeds LSIO IJQ. During ihe )'ear the company wa5 used for Don- primary purwse trading xliviii¢& naT￿ty the Operau￿ of th¢ bar and kiichen 8rKJ ￿ organi5Wtw)n of comrn¢￿iaI ¢vents ￿ The T¢tl¢y. Project Space Leeds Company Limiled by Guarantee Notes to the Financial St*lem¢nts Year ended 31st March 2024 19. IRVtJtNb￿ts {C￿l￿￿edj Th¢ Inve￿ment in 5ub5idiary is shown at co> isgd share capitsl. All aaiviiies of the subssdiary ciwany have been Co[￿lId￿ryJ on a line by lin¢ basis in lh¢ con501idai¢d Siat¢m¢nl of Financial Aciivilic5. Incorne for th¢ year ¢￿kd 31 Mwch 2024 arnowi￿4 10 £748.663 {2￿3.. £754,483) with as%Kiated expendiiure of £474.754 12023.. £763.466X in*re% payable of £1.891 12023.. £3.8881 and J charg¢ of £Nil12023.. £Nill. Net ￿ets olthe 31 March 2024 are E4.717 1202J. nei liabilitK5 of £267JQOk 20. Sto¢k 2023 Cr•Mp Cl*rity Group arity B¥ aThd kiichet15totks (hher ￿0¢k iienL8 21. Debtors 2024 2023 Crowp 7YJ Ch•rity 6.739 Group 38.607 Charity 19,785 88.810 55.868 Trade deb￿$ Amounts owed by group undenakinBs Prcpaymenis and aterkLtd irLcome her debtors 59.446 2.617 iQi83 10.183 l(Kl.670 164.463 The morties due ￿ th¢ ¢harity PSL Eniewises Ltd is iNeKst fttt aThJ rtpayabie on demand. Ai the 3 March 2024 the balance due is £thil 12023.. £88.8101. 21 Credilors: I￿o￿nts fxllittg dxe wlthiD •At yt*r 2024 2023 Gro•p Cbarity lJ88 14J92 26,064 2.76 1.138 Group 32J52 25.875 74274 36,248 14.155 CThaTiIy Loans Tradc er¢ditOTS A¢¢rual$ and d¢f¢Tred in¢om¢ s(￿la1 se¢uri¢y and other tsxe5 (Mher crediiors 14J93 8.252 19,799 5.93 1 8.967 182.gm 42.949 23. D¢biors: •#bounts falling d¥¢ *ft¢r ••r¢ ¢haA •ne year 2024 2023 Cro•p Chariiy Group Chariiy 230,(K)O Amoun15 du¢ fTom group wthrfaking5 Provision againy above balan¢¢ {230.(MXI The I￿Tr balancc of £2Jts.LYNJ due from PSL FA)terprises Lid is (kemed rewverabl¢ in full as PSI. FThleTpriscs L has ceased io irade thjring the year eThJiThB 31 March 2024. A £30.000 repa)meni ￿35 made during the financial year and th¢ remainin8 £2(K>,Im h*8 t*en Writ￿ Dff &% * 31 March 2024. Project Space Leeds Company Limiled by Guarnntee Notes to the Financial Statements (tothcé) Year ended 31st March 2024 Creoltors: *m•¥#¢s f*lli#¢ dw xfttr 2023 Cro•p Chatily Group 38J08 Charity Therc are no loan ba￿tts outsthndin8 asat the ytar March 2024 IS. An*lysi$ of ¢h•rSl*ble fvod$ AI IA Apnl 2023 Incorning Resources At 31$1 M•reh Expended 2024 Group Res¢ri¢ied funds Endowmeni fwd5 Unrestricied funds 32.573 11833 185.822 12&702 1115.3791 (12.833) 11.030,963) l.l24.575 279.434 Totsl funds 231.228 1251277 {1.159.1751 323J3(1 Restrleted fundsa Group and Chgrity Ai Isi April Resources At 31st Marc 2024 Arts'u Leeds Baby W¢¢k Airium Inyallason Tiny Tdley IDstallalLon Lttds con5uliant funding Naiional Loitery lThside (￿[ GraTht Brnmtll Foundation Sir George M Jer4¥00d Bupa . Rowland Ro•J Play Patch Brothertort TTUSI Leed5- Serendipity Bi¢nni)ls Conn¢¢i Afoh Shafiq Lttds Civic Tnjst l.ecds 2023- AfT3 Ei5rna No Man's Art Gall¢ry S￿￿$￿[ship. Lighioighi Mortdrioan Fonds Brilish Council- Anlikndics 26.(KK) 4270 4.261 126.(MK)) 14.270) 4261 18.(KY)) 15,1951 (2.1291 25,579 i0J84 2,871 3.(KlO 3.087 1,980 150 1.925 (3.0871 1925 (8.IX)01 I 19.9751 19.975 9.325 1.650 9J25 1.650) (2.(M)O} I2.5￿> 121.973 (lo.6￿> 15 21.973 10.6fK) 31573 12fi702 11 15,3791 Projeet Space Leeds Company Limited by Guarantee Notes to the Finan¢i*l Slatements(¢ Year ended 31st Mareh 2024 IS. Analysls of chArltsblt tuods Re5trirled funds- Group aid Ch*rily AI IAAwil 2022 Incoming Re￿￿¢$ Rtsourccs At 31st M*rt 2023 LCC Arts FundinE LCC (hher Garfjeld We#4 PANIC! Jer%¥ood Women's H￿th Mallers Mayor Orwe￿ Yorkshire The National Lollcry Community Fund Ne%v Art EKchange Justin Fiwrik Mondriaart Fonds Andrew Black Biitish CO￿¢11- Anti1￿leS Other restiieied futKIs 126.(MMI> 14.990) 121.455) (I9.91Y41 Il7.894) 11,250) 15.947) 21.455 19,999 J7.894 5,941 19.7(Mb) 114.IXKI) 12,(KM)) 13771 (2.5(M>l {43.41X)) (2,1201 14.INM) 22JS0 15(M) I1￿3 Jowj 59.J48 144ts57 {171.6321 J2J73 Endowment fu#ds- Group amd Charity AI 19 ApTiI Incoming 102J R¢50UTttS Reywrce5 A¢ 31* M*r¢h EN￿l¥l¢d 2024 The Taley ¢apithl fuNIiD8 12.833 112.8331 Rcsource5 At 31gt March Expe￿I¢d 2022 2023 The Tdley Capit￿ fundin8 31083 1192SOI 12133 -27- Project Spaee Leeds Company Limited by Guarantee Notes to the Financial Statements Year ended 31st March 2024 25. Analysis of tharitsble funds {cOnfi￿C￿) Unrt5tricted funds• Ch*rity At IA April Incomin 2023 Re50urtt5 Resourccs Expe￿4 At31Jl Mgrch 2024 Trnn5f¢T5 Project Space LEEds Ass¢ts purrhased wilh witsl grants Designakd fund 216.052 627.111 (568,7731 {I20.iKKI) IS4J90 7.071 {6.7561 315 120.IMI 120.IM>O 223.123 627.111 (575.529) 274.705 Ai l# April 2022 Incomi At31M MArch 2023 Exp¢NI TrarLsfers Proje¢i Space Leeds Ass¢is PUT¢has¢d with ¢￿1th1 497.034 687.895 196&8771 216.052 7.071 71171 Ik5ignated fuTMI 504.105 {96&8771 223,123 Unre5trieted f4nds- Group IM Atxi) 2023 IncLYning At 31￿ Mgrch 2024 Expended Tran5f¢T5 Unresiricied r¢5etves Assets purch&%ed with capital 8rants Desi8na*d fund 178.751 1.124.575 (1,024.2071 {120,(AM)) 159,1 19 7.071 {A7361 31S I20.￿￿1 120,000 185.822 1.124,575 11,030.9631 279.434 Al 1° Awil 2022 Incoming At 3111 M8Tch Exp¢￿I¢d Tran5fcr5 2023 Uw¢yririEd r¢s¢rv¢s Assets purchased with rapithl grdnts 241￿3 1,362275 11,42A1291 J7&751 7.071 7.071 249.676 1.362275 11.42&1291 185,822 Unresth¢i¢d fwid - Yewesents resources available ￿ ihe TnJ51ee5 disYTeiion in meeting ih¢ chari¢thlc objects of the chariiy. Ai the year4nd PSL F￿*r￿lS¢S had a wlus on iis profli and Ioss re5erye5 of £4.717 12023: d¢fKii of £267,300). Designai¢d furKI. £720.0(￿ d¢si8nai¢d Yes¢N¢ for the of new premis A55ets purchased wilh capiiaj grants - this dtSi8naitd rtwtsenis thc Net Book Value of a55¢ts pwchased with grants receiv￿ for witsl funding. R¢strind funds- £25.579 was rtteiv¢d fr(Kn N•i(xJal iAAtery Commurtiij Fund for Inside Okni a programmc supp)rting childrcn'5 crcalive play in Bttsthn arhj £19.975 wa5 rtteived for Afrah Shafiqu¢'s presets￿10￿ in Le¢ds Train StaiiorL part of Lttds 2023. Project Spaee Leeds Company Limited by Guarantee Notes to Ihe Fin*n¢ial Statenbents fewrf##e4) Year ended 31st March 2024 26. AAaly5is ofnet assets between funds IGr•up) UnreAric*d Funds Reswi¢l¢d Fund5 EThJowTh¢nl Funds T•¢•1 Fund$ 2024 Fixed Isseis Current asse Creditor5 les5 Ihan l year Long *rni liabililies 16.114 308.374 {45.054) 16,114 352370 I45￿51) 43.896 sssets 279.434 43,896 323J30 UnrcAric*d R¢yric*d &)dowmcnl Total Funds FuThAs FutwJ5 2023 Fixed asse Current asscts Creditors less ihan J ycar Long tenn liabilities 84.IK>2 322.972 1182.9)41 138.3081 12.833 96195 355.545 (182.9041 138J081 32.573 Net *ss¢ts 185.822 32.57J 12.833 231,228 ADaty5is of oet •55¢ts {Ch•TityI Un￿￿n¢t¢d Funds TDt*J Funds 2024 Fwd5 Fixd assrt5 LU￿￿1 a55¢ts Creditors less th￿ l )¢Rr Net ￿￿ets lQllS 305.232 14&612} 16,115 349,128 146.642) 43.896 274.705 43,896 318,￿1 unTe*T1￿ Restrided ErKIDWtD¢Dt Totsl Fund5 FNrw15 Funds 2023 Fixtd assets Curr¢nt assets Credito￿ less than l year 66.455 199.617 (42.9491 12,833 79388 232,190 {42.949) 3157J Net •55ets 223.123 32.573 12.83J 26&529 Project Spaee Leeds Company Limited by Guarantee Notes to the Fin*n¢ial Statements fe• Year ended 315t Mydrch 2024 17. Rel#ted pgrties The company tsken &d¥￿tage of t￿ex•￿P1ity1 in Fir￿￿1a1 R¢wting Stsnd¥d 102 from th¢ requiT¢nKn¢ io diselose the Imsaclions with group companie5 on the groLmts Ihal art wholly The group math sal¢s to Th¢ Univ¢r5ily of Le•Js which Fr￿ Finlay cfwustc¢ aThJ Chairl and Sh¢ll¢yTyson (Tru￿¢¢ & Aydii Chairl aye ¢mploy¢d iotallillg £2.51812023." £1.913)- Ai the yw the ouw*Oin8 bal*¢¢ was £thil12023: £Nil). Th¢ 8roup made sales 10 L¢¢ds Culiur¢ TwusL wh¢wE Finlay is a wIlU￿ £27,819 (2023.. pw¢iwses t(Kdling £2.1341. Ai Ihc yearetwj ihere was nooutsianding b￿ance (2023: £nill Tr group paid artist Simon Barclay. is dso a tru￿¢t. hLiI as part of thc PANICI sessions (2023: £6{￿1. The group paid Owen Neory IpatheTof Sam&rttha Neary (née Fithll £l(X){2023.. £1(X)l in ¢xthang¢ for his DJ serv￿> The group mod¢ saks to Lumitha* Edwatiffi Gmvp of thith David Watten (Tn￿¢¢) isemployed towllitlg £4(X> {2023.' £491). ￿ the yeartThJ the ouistsnding balartt w&% £nil12023.. £nil The gro￿ ￿ saksto Elcvatcd Food for Lift of which J￿n Show ITru51e¢l CO-OWDS wtsjling £Dil12023.. £1,￿01. Durin8 the ye4r Ihe 8roup purchwd itrms io¥11in8£56 (2023". nil}. Ai ih¢ year ejjd th¢ ouwaThlin8 FAiance was £nil12023: £nil). The 8row) made saks to Rolling Social o(whi¢h SamanihaNcw Inc¢ Fish) ￿Tn￿le¢) is am&jority shareholder totslling £20812023: £1.1011. Ai the yeart￿j the ￿ts￿￿ing balaA¢e w&s£nil (2023.. £nil). The Charity rcttivcd donati￿5 from I vuaee iotslling136012023: nill.