ARTSPACE LIFESPACE FINANCIAL STATEMENTS 30 SEPTEMBER 2025 Charity Number 1168150
ARTSPACE LIFESPACE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 Contents Pages Reference & Administrative Information Report of the Trustees Independent Examiner's Report 24-25 Statement of Financial Activities 26 Balance Sheet 27 Cash Flow Statement 28 Notes forming part of the financial statements 29-38
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Reference & Administrative Information Trustees Aran Dasan lappointed April 20251 Ben Stephenson lappointed April 20251 Kara de los Fleyes lappointed September 20191 James Francis lappointed July 20161 Slew Choo Clarissa Ching (Clarissa Jeakingsl (Treasurerl (appointed August 2021, resigned July 20251 Wim Penhaul (appointed April 20171 Peristera Stefanou (appointed April 2023, resigned September 20251 Melissa Blackburn (appointed December 20221 Richard Irvine (appointed December 2022. resigned January 20251 Anthony Elliot (Resigned March 20251 Rhiannon Jones IAppointed May 20261 CEO Kathryn Chiswell Jones Charlty Operatlons Manag•r Alice Newton Prlncipal Offic• The Island Ne150n Street Bristol BSI 2BE Independent Examlner Joshua Kingston Bsc FCA Burton Sweet Limited Chartered Accountants The Clock Tower S Farleigh Court Old Weston Road Flax Bourton Bristol BS48 IUFt Bankers Triodos HSBC Contacts The Island Nelson Street Bristol BSI 2BE Telephone 0117 376 3457 Email". info@artspace.uk Web." https jlartspace.uk
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Report of the Trustees Our Charitable Aims Artspace Lifespace IASLSI has been delivering arts services in Bristol since 2006; formally registering as a company in 2012 and established as a charitable incorporated organisation in 2016. Central to our mission is the transformation of underused. derelict or otherwise neglected buildings into thriving. inclusive spaces for arts, culture and community engagement. Our charitable purpose is to provide the resources and facilities that enable sustainable. creative communities to flourish. We achieve this through the acquisition, management and maintenance of a diverse portfolio of creative venues where artists can make. collaborate and present work, and where communities can access affordable arts provision within their locality. We advocate for the adaptive reuse of buildings for creative PLJiposes, securing interesting and often challenging spaces in which we develop workshops, studios, galleries, offices, independent retail, performance and training facilities, supporting artists and communities on both a meanwhile and longer-term basis. We also act as a broker between property owners creatives and communities, and provide advice and support to artists and organisations delivering their own projects locally and nationally. I n pursuing these aims. the charity addresses a range of interlinked social, cultural and economic challenges.. La¢k of affordable creative spaces Access to affordable venues for creation, exhibition and performance remains a significant and growing barrier for artists and community gToups across Bristol. Our su bsidised studios, flexible hire spaces and residency programme directly address this gap, ensuring that financial constraints do not act as a barrier to creative practice. Urban decay and building neglect.. Vacant and deteriorating buildings blight communities and undermine local economies. ASLS responds to this with creative, community-centred proposals for cultural repurposing, demonstrating that meanwhile and long-term cultural use can deliver lasti ng social and economic value. Social isolation and exclusion." Through our grassroots approach, open studio events. year-round exhibitions and community programming. we create spaces where anyone can engage with and contribute to Bristol's creative life. Our venues provide welcoming. inclusive environments that bring diverse communities together. encouraging participation. collaboration and social cohesion.
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 How Lhe achievemenl of our aims 111 (uriher the charity's legal purposes Artspace Lifespace's charitable objectives are to promote art for the benefit of the public by the establishment and maintenance of facilities for artists from a variety of artistic practices to create works. to collaborate. and to present and perform these works for the public. Artspace Lifespace is a registered charity. and its aims directly align with its legal charitable purposes- Advancement of the arts and Culture: Through the provision of artist studio spaces, public exhibitions, artist residencies, and creative programming. Strategies for achieving our stated aims and objectives Artspace Lifespace employs a range ofstrategies to achieve its aims, including.. Creative use of vacant propertie&. Partnering with property owners to bring empty buildings into meanwhile or worthwhile use, revitalising unused spaces for community development. Artist residencies and studio provision.. Offering affordable workspaces and development opportunities for artists and creatives. Community engagemenL' Hosting open-access events. exhibitions, and workshops that encourage public participation. Providing opportu nities for learning through creating space for workshops, mentoring, and skill- sharing collaborati partnership& Working with local authorities, grassroots groups, and cu Itural organisations to co-deliver impactful programming. Advococyondsupportr. Championing the value of arts and culture in regeneration and supporting artists through advice, networks, and capacity-building.
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Crileria and Measures loA55ess Succe55 To measure progress and effectiveness, Artspace Lifespace uses a combination of qualitative and quantitative indicators, including- Occupancy and utilisation rates of creative spaces and studios. Attendance and participation figures at events. workshops. and exhibitions we host. Artist and community feedback collected through surveys and evaluation forms. Case stuéies demonstrating individual. partnership and community impact. Significant Adivities Undertaken in 2025 During the reporting period. Artspace Lifespace undertook several key activities that contributed to its aims. Below are the visitors numbers for the full calendar yea r for 2025. The Island 69,346 individual visitors annually across our range of activities at The Island includi ng.. Artist Studio&. 43 Studios (Shared and Individual Studios). 105 artists. "Having a studio space in The Island has been essential to the development of my artistic practice in recent years. The friendly and helpful staff, affordable space and central town location have meant I've teen able to grow my projects and collaborate with organisations across Bristol." Circus Studio.. 354 Classes & Workshops. 3.146 individual visits. "The Island is an amazing place. It brings all kinds of different people. performers and artists together, professional and amateur, Bri5tol-t)ased and global. The Island is one of the few remaining space5 ft)r creativity in the city, and 15 known all over the world (Js a creafive centre.- Dance Studi¢x' 687 Classes & Workshops. 6,979 individual visits. "Thankyou for these years of providing the lovely dance space to our community. I wonted to soy thonkyou becouse thot spoce thot l used for nearly 7years was very important to me and to all the students who attended and grew up in the dance community there. I hope The Dance space keeps growing, and hopefully. people will continue to look after it"
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 The Gollery." 61 Events. Workshops & Exhibition& 1292 individual visits. "The Artspoce team at the islond ore incredible to work with, especiollyAyan who went above ond beyond. They were super helpful to make my project run Smoothly and created o welcoming 5poce to explore the creative vision. Thanks to their support, my installation was o success. and I manoged to gain valuable knowledge of the process while also having it re50nate with visltors. I would recommend this venue to anyone looking ft)r a creative and open space to explore ideas in their work" Venue/Cell&' 61 Events Of which Z7 Club Nights: 5,639 individual visits and 29 Other Events & Workshops.. 610 individual visits "Incredible. The only true underground venue in Bristol-. Sparks Bristol Ground Floor Individual visi. 421.347 visitors Event Spa¢es: 191 events, 7,640 visitors Artists I Creative Desk Space.. Our survey with Sparks Traders shows the venue is having a genuine behaviour- change impact traders reported both thinking more about and actively implementing ethical practices including accessibility, ethical sourcing, and paying the Real Living Wage. "Spark5 has given me the plotform and support to turn my passion into a full- time business, it's on omazing spoce ond provides endless opportunity for our community." SparksTrader "The Studio desk space h05 been instrumental in my creative practice being a BRAC artist, without which I would have not been able to explore my practice as well as take the chance to make art of bigger scale. I deeply value the relationship I hove wirh Sparks." Sparks Artist "I love it here. I feel very happy ond welcome as o g(Jy person." Sparks Customer "We were so, so groteful foryour time and tour of Sporks. I think it wos the highlight of the two weeks for mony of the student& Your words resonoted deeply, ond I think the design ond purpose of Sporks will encourage them to make significant changes in their systems on a similar scale. Your team were wonderful, please pass on my gratitude to them." Recipient of Sparks Tour
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Arts Mansion 109 event& T7.039 visitors Our Venue Manager Jenna Graves doubled the number of visitors and events hosted at Arts Mansion in 2025 by concentrating on more public events and music events in 2025. "Jenna and her team were utterly amazingl They ensured we were able to plan and execute our vision, nothing wa5 0 problem and Jennu even helped us navig(yfe through the plonning process to secure (Jpproval for using o public spoce. All our guests hod the best rime ond I would definitely recommend using the unique space for ony celebration, meering, ort exhibition or filming locotion. This orchitecturol icon hos been a huge port of our lives since moving to Bristol nearly 30 years ago and it was a real privilege to be able to work with Artspace" Arts Mansion Hirer The Island / Sparks Satellite Venues The Vestibules Seasonal exhibition programme with Coe Gallery & Residency Events. After eight inspiring years of creative activity. Artspace Lifespace bid farewell to The Vestibules in October 2025, marking the end of an important chapter in the charity's su pport for Bristol's artistic community. "For the post threeyeors, Arrspace Lifespoce hos been a virol supporter of Coe Gallery's exhibifions ac The Vestibules, o spoce we've proudly called home during this time. Since 2021, we've hosred seven exhibitions ot The Vestibules, which hove become our stople summer and winter shows. At the heort of our progromme is o focus on Aboriginol ort ond the spoce provided byArtspoce Lifespoce hos ollowed us to introduce these importont ortistic voices to wider oudiences, fostering educotionol diologue ond cultural diplomocy. Their support has not only empowered us as curators ond artists, but also enriched the wider public's access to meaningful, often underrepresented, cultural narratives. Their role in supporting ortist-led octivity is not only crucial for creative proctitioners, but a150 for the broader public. who benefit from a rich programme of free, diverse, and accessible exhibition& We are incredibly grateful for everything Artspoce Lifespace has done and we strongly advocate for the continued support and funding of organisations like theirs. who directly Serve the cultural life of our cities."Jasmine C, Founder of Coe Gallery Broadmeadxp Residency Art Gallery & workshop space for ArtIOO CIC. hireable space for Playback Arcade ar)d Retro Gaming Exhibitior) and a weeklyTuesday craft club for elders hosted by ArtIOO Gallery and One Green Kitchen C.l.C
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Artspace Lifespace Residency Space Our Artspace Resispace programme enables creatives free space to make and develop work in progress. Our artist residency opportunities are open to artists who want to foster the development of both specific and exploratory projects, and experiment with works in progress. What we offer? Access to space in kind120 - 37 hours of free space hirel A letter of SUPPOTt for funding applications or for artists, work in general Their work featured on our website I social media Artist support from our Management Team 2025 Residencies included: Arts Mansion Nu Nu Th•atr•', Nu Nu Theatre produces work inclusive of second language actors lactorslperformers foi whom English is a second language). They requested rehearsal space for a theatre production involving dialogue and ample movement in which they could move freely and rehearse with text and sorre propslminimum set. 'Artspoce Lifespace generously gave us occess to rehearsol spoce, which made a huge difference to our preparation. Having a quiet. supportive environment where we could focus without pre55ure was incredibly valuable. The staff were kind ond helpful, ond the venue itself hod everything we needed. It s rare to find space5 like this especially offered in kind. we re really thankful for the opportunity and support." Ileana Gherghina. Nu Nu Theatre The Island Ourcylium R&D & Showing.. Gender Criminal is a multi-disciplinary Storyteller, Gender Educator, Director and Producer. moving across drag, queer live art, wordsmithery and community organisation. Roux used the cells at the Island to develop a new piece and an end of residency performance Ourc lium. "I wouldn't have been able to create and develop work without the pressure of funds if it wasn't for art5pace lifespace. They are a lifeblood for underrepresented creative5.' Roux Burroughs aka Gender Criminal The Vestibules Bristol Women's Voice: Use of the Park Street Vestibule for their International Womens Day event at City Hall
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 "l just wanted to say a huge thankyou for all your support for this year's IWD event. It's been lovely collaborating with you. We recorded that SOO people visited the Park St vestibule throughout the day!- Madie Lewis, Bristol Womens Voice Sparks Bristol Tom Marshman.. FI&D of a new queer writing family supporting Bristol based LGBTQl+ writers interested in addressing themes of uiban renewal, displaced communities, and personal stories BroadmeadXP One Green Kltchen weekly craft classes particularly aimed at elders from the HK and Chinesecommunity 2025 Residencies included.. Grania Pickard, Sophie Grenfell, Josh Ben Tovim, Floux Burroughs, Bolarinwa Olabisi. Keity Pook, Adriana MacKenzie, Robyn. Molly Hanson, Tom Marshman, Itta Howie, Helena Berry, Ziggy Slingsby, Bristol Gallery Weekend, FAM Open Days, Library of Moments. Capitalist Escape fioom, Age of Quorom Filming, Nu Nu Theatre, Creative Youth Network Youth Exhibition. Bristol Womens Voice- IWD 2025. Sparks Residency Desk Space. ArtlOO Gallery & Studio Space, One Green Kitchen Chinese Elders The total value of staff support and space in kind in 2025 was £32.299.
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 The Importance of Affordable Studio Spaees: In 2025 we surveyed our studio holders and circus studio members at both The Island Bristol and at our flagship building and at Sparks Bristol. 35% of Island Artist Studio Holders, 66% of the Island Circus Studio Members, 41% of Sparks Studio Holders and 45% of Sparks Traders restx)nded to our suNey. Our venues are serving artists from right across Bristol. from 8SI to BS9. demonstrating broad community reach rather than serving a narrow geographic area. Main Area of Artistic Activity The Island Sparks JD. Sculptum. Putk ¢TrJX trthiryj 20ArtIP•irti •JLScL¥Mui+. 9¥ •Y4M•th•*rtsi•¥ OrfJrt•IFln )erti•ry Most important for Island artists were the Characteristics of the Space139.4%1, Community in the Space121.2%1 and City Centre Location118.2%1. Island Circus Studio members selected Affordability140.6%1. Community in the Space131.3%1 and Characteristics of the Space121.9%1. Sparks Bristol Artists said Characteristics of the Space130%1. Community in the Space 30% and Accessibility125%1 were most important while traders said Affordability was most important141.7&1 with Characteristics of the Space, Community in the Space and City Centre Location all received equal weighting U6.7%1 Approximately3 in 5 artists across our venues earn below£20k per annum. 70% of Sparks Studio Holders 75% of SparksTraders, 59.4% of Island Studio Holders and 45.4% of Island Circus Studio Members reported that their income
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 was below £20k per annum. Respondents were asked to include all sources of income.. from artistic work, other employment, benefits, etc Our 2025 survey data paints a stark picture of financial precarity across Bristol's creative community. Across all four surveys an average of 62.5% of our artists. studio holders and traders earn below £20.000 peryear from all sources combined - well below the UK national minimum wage of £24,800. This rises to 75% of Sparks Traders and 70% of Sparks Studio Holders. making these among the most financiallyvulnerable creatives in our community. Despite this, the vast majority continue to show up, make work, and contribute to Bristol's cultural life, often juggling Tnultiple jobs to do so. When asked what would most help them sustain their practice, artists consistently pointed to more grants and funding opportunities, a Universal Basic Income, lower studio costs, and affordable housing. Notably, 67.7% of Island Studio Holders said they would work full-time as an artist if income were not a barrier, a clear signal that fi nancial constraints, not lack of ambition or talent, are what's constraining Bristol's creative community. The data demonstrates that Artspace Lifespace is succeeding in our mission of providing affordable space and ieinforce why affordable studio space is not nice-to-have. it is an essential lifeline. For many of our creatives. the subsidised space we offer from our venues are what make creative practice possible at all. Our next Annual Impact Report, publishing in October 2026. will track whether the financial position of artists in our community has improved, remained static, or worsened, providing an evidence base to strengthen our advocacy for sustained and systemic investment in the arts. I n shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity IPB21'. We endeavour to encourage all within our community to take part in our activities and seek to broaden access to culture through our activities. io
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 FINANCIAL REVIEW Our financial statements for the year ending 2025 demonstrate a return on investment in Sparks and Broadmeadxp. Income and Overheads Overview. Principal Funding The main income streams in the year continue to be from our earned income generated from license fees charged for the provision of creative workspace, event hire and the introduction of retail concession lets for independent sustainable traders at Sparks Bristol. I n Year End 2025, both our overall income and expenditure on charitable activities increased. Principal cost categories shown below,. see Statement of Financial activities for full breakdown-. Income from: Total 2024 Total 2025 Difference Donations & Grants £76,683 £587,143 £0 E79.820 £3.137 Charitable Activities £679.246 £92.103 Other Trading Investments 3,515 £2.778 £T75359 £13,515 £471 £2,307 £666.133 Total Income £]09.226 Expenditure on: Raising Funds Charitable Activities Total 2024 Total 2025 Difference £12,250 £593,938 £606.188 £9.784 £683.034 £692.818 1£2.4661 £89.096 £86.630 Total Expenditure Charitable Activities Spend Su pport Staff Costs Rent and Rates Total 2024 Total 2025 Difference £232,727 03,840 £26,238 £310,815 47.192 £31,676 £78.088 £43.352 £5.438 Office Costs
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Direct Costs Total 2024 Total 2025 Difference Staff Cost5 £57.420 £20,268 £49.568 £8,993 I.852) lal,2751 Events expenditure At year end 2025, our net cash inflowwas C72.958 compared to a surplus of £43,254 in YE 2024 and a deficit of £73.021 in YE 2023. Our Balance Sheet net assets figure at Year End was £328.516 compared to £245,975 in year end 2024. New Projects and Strategic Investments Our mission since 2016 has been= Providing Access, Space. Logistics and Support for a vibrant creative community in Bristol and beyond. In 2024 we reported that People rather than the Buildings are core to our central mission and that mission saw us taking our skills to the streetsl In 2025, Artspace Lifespace was one of five community led high street innovators selected testing how community-led action can revitalise high streets and town centres across England and we started work on creating a Vacant Property Toolkit to share with other arts organisations. As we continue to manage a vibrant portfolio of meanwhile spaces, our search for a permanent home in Bristol continues. Approaching 20 years of managing Artspaces in Bristol in 2026, we will use this milestone to review our mission, vision, values and goals for the next decade. Fleserves and Future Planning: With the temporary nature of our projects, our strong reserves position has been instrumental in giving us the confidence to plan and undertake new projects. We will continue to remain vigilant in managing risks and planning for the future. We are building our reseNes in the hope of investing in our long term future home to maintain long term affordability and stability for artists in the city. Risk Management The Trustees have reviewed and assessed the major risks to the charity and risks and uncertainties that could impact the charity's ability to deliver its objectives and mai ntain financial sustainability. Loss of Meanwhile Spaces." A core element of Artspace Lifespace's operational model relies on the occupation and management of meanwhile spaces. The temporary nature of these arrangements presents a significant risk to our income generation and programme delivery. 12
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Our lease at Sparks was renewed until for another year until January 2027 and the conclusion of our custodianship at the Arts Mansion is anticipated for 2026. Venue closu res represent substantial risks to the charity's income. job losses and operational stability for the financial year ending if new meanwhile venues are not secured to take their place. Sustainclbilityof The Island.. The ongoing viability of The Island remains a concern, with core costs exceeding earned income and the condition of the venue continuing to decline. The project has increasingly relied on surplus contributior)s from other sites to offset its operational deficit. A decline in external su bsidy or cross-subsidy puts The Island at risk as a going concern. Improvements in the Islond Venue Bookings." The Venue at The Island has experienced reduced income and bookings, attributed to growing competition from other venues offering in-house technical infrastructure, partiCLJlarly sound systems. Our Venue team has worked hard to reverse this trend through increased digital marketing and word-of-mouth promotion, and by trialling our own in-house event nights to raise the venue's visibility, using an agreed test budget of £5,000 towards programming these in-house events.. Concentration of Income Sources.. Given the fluctuating nature of meanwhile use, the loss of a single income-generating site within a financial year poses a material risk to the charity. The impact is even more pronounced in the event of two or more closures. To illustrate. as ofyear End 2025 the Arts Mansion contributed 12% of its earned income to Artspace Lifespace's core costs. while Sparks contributed 47%. Any surplus generated by Sparks and the Arts Mansion is also used to reduce the deficit at The Island. Arts Mansion lease expires in May 2026 ar)d Sparks continues on 3 12 month lease basis. The loss of both projects would have a significant negative effect on the charit5 financial performance for the year ending 2026. The trustees continue to monitor these risks closely and are actively exploring alternative opportunities and mitigation strategies, including the pursuit of new partnerships, diversification of income streams, and investment in key venues. Measures in place to strengthen systems and mitigate risks include: All staff Team leader meetings are held monthly Sparks joint team meetings are held bi-monthly Board meetings are held at least quarterly External consultancy is sought where appropriate under advice from the Board ofTrustees. 13
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Future Strategy Our biggest successes over the past fewyears continue to be our growing partnerships and networks. We remain active in the Bristol Culture Network Iformerly the DIY Arts Network) and in a CEO/COO peer meeting convened with Gloucester, and we've been enriched by our involvement in the Mycelial Network for CommunityAsset Developers- a peer solidarity network for community-led organisations activating and stewarding land and buildings to transform their neighbourhoods. 2025 also brought recognition on a national stage. We were named one of just five Community-Led High Street Innovators in the country by Power to Change, working alongside Bristol's Vacant Property Task Force to explore new possibilities foi Broadmead as it enters a period of major change and developing a Vacant PropertyToolkit to help others reclaim and reimagine underused space. We also hosted a high-profile tour of Ashton Court Mansion for Sadik Al-Hassan MP, Historic England's South West Fiegional Director, the Leader of Bristol City Council and the council's Chief Executive. And our CEO represented Artspace Lifespace nationally, speaking at the Scottish Cities Alliance's Peer-to-peer Event on Retail and the Night-Time Economy in Glasgow. sharing our model with cities across the UK. Our long-term vision remains the same= to help shift the current paradigm and build a society where individuals. institutions and investors actively support the places that shape the cultural identity and social fabric of our cities. At year end 2025, the tools to make that transition weren't yet in place but that changed this spring. The English Devolution and Community Empowerment Act successfully passed through Parliament and received Royal Assent or129 April 2026. Looking ahead to 2026, we're preparing to make the most of that transition. Key priorities include.. Deepening our networks: building on the strong, values-aligned partnerships we've established across our projects. and connecting with grassroots organisations both locally and nationally, rooted in shared values, to shape our collaborative approach and guide our mission. Positioning Artspace Lifespace as an investable proposition: We continue to explore blended funding models that go beyond traditional grant funding to sustain and scale our impact. Capturing and sharing our lèarning: launching a legacytoolkit in 2026that distils the insights, strategies and models we've developed over the years, equipping individuals and communities to lead grassroots regeneration effort5 in their own neighbourhoods. 14
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Seeking capital funding for The Island: pursuing long-term investment in The Island, ideally through acquisition or a long-term commitment from the landlord, to carry out essential accessibility and sustainability works. Fundraising - Core Grants and Project Funding Some of the grants received during year end 2025 were.. British Coun¢il - There Is No Place Like Home £5k There is No Place Like Home. Kia mau ki te tokanga nui-a-noho was awarded a grant as part of the Connections Through Culture Programme 2024125. Led by Artspace Lifespace and Dr Tia Fleihana INew Zealandl, this collaborative project aimed to unite contemporary dance practitioners to create a F)owerful dance piece explori ng the climate CTISIS. The project will delve into Indigenous art practices and environmental narratives through choreography and workshops, raising awareness of sustainability and migration while inspiring meaningful action. Arts Funding & Philantrophy {Cause4Ltd) £2500 Funding for a partnership project with Arts Fundraising & Philanthropy to host four Artist Support Evenings at 'Sparks Bristol,. This was open to all creative individuals, businesses and small start-up entrepreneurs to gain some insights from industry professionals. The workshops covered Finance and Managing your budgets, Websites SEO. Digital marketing. Developing a business plan and Creating Contracts and Protecting your Internet Protocol. Brlstol Clty Coun¢ll - £51033 between 2024-20ZY In 2024 we were just one of IS organisations successful in the Cultural Investment Programme'openness, Fund with unrestricted funding for up to four years. In YE 2025 we received £17,344 in funding from this grar)d award. Nisbet Trust - £30,000 between 2024 - 2026 05k in YE 20251 and Garfield Weston- £20,000 We received core funding to make critical strategic changes at Artspace Lifespace, aware that in order to remain sustainable and keep our community arts spaces open we need to restructure and restrategise over the next five years, focusing on business planning and capacity building. Part of the identified restructure was creating a part-time Company Manager role Inow renamed the Charity Operations Manager) to support our arts venue managers and enabling a Chief Executive position to focus on capital funding, development and council policy engagement. Power to Change - Total grant award £34964 I7.482 in YE 20251 Artspace Lifespace was one of five organisations selected nationally by Power to Change as a Community Led High Street Innovator. In April 2026 we will be publishing a Vacant Property Toolkit. to share our learning with other organisations and support community and cultural organisations to take on 15
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 space nationally. Artspace Lifespace is part of the Vacant Property Taskforce in Broadmead and will work as part ofthis partnership to create a Commercial Property Database, to make accessible information about spaces available for use in Broadmead. We are reimaginng a building identified by the Vacant Property Taskforce, using 3D and virtual reality modelling as an accessible way to consult with the community and stakeholders as a pilot model to encourage portfolio managers to bring Vacant high street property back into use. Green Business Grant £886 30% of costs for eco lighting improvements, replacing light fittings with LED light fittings and microwave sensors. installing self-contained PIR detectors to control 3 entrance lights in the middle section of the artists corridor so that these lights were not left on overnight when the last artlst had left the building. This grant was paid in December 2025. Historic England £1,553 In 2025, Artspace Lifespace drew down the last of our Historic England Funding to help develop a 3D Matterport Model of Ashton Court Mansion - catching it at a moment of time of dereliction. Artspace Lifespace donated £661 to complete the model with CEO Kathryn Chiswell Jones also donating time to populate the model. The model can be used by Historic Model for schools education visits as well as by the Friends ofAshton Court Mansion as an alternative to the in-person dereliction tours on open days. R•gular DonatlonslPatronag• With thanks to our regular Patrons Colin Barns and Laura Ferrario for their continued support to Artspace Lifespace. With Thanks To: Womble Bond Dickinson.. Pro-bono support for the Vacant Property Taskforce in Bristol approx £1,500 (exclusive ofVAT) 8ristol Beer Factory.. Free Hire of Keg dispensers) for use at Ashton Court Mansion to the value of approx a,000- used 10 times between 24th Jan and 26th July 2025 Jubel: We were donated approx £300 in free stock for an event on 15th May 2025 Bristol Bid / Seedl Training.. Beneficial support for mandatory and additional training from this online provider. Value approx. a20. Leador Fundamentals Training.. 10 week course - 4 all day sessions + 4 x 2 hour sessions for our charity operations manager. Similar professional leadership training in the UK costs approximately £3.500. 16
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Sparks Bristol Volunteers= Oct 2024 to April 2025-1,642 hours and May 2025 to Sep 2025- 991 hours. Total 2,663 of volunteer hours donated. Estimated pro-bono value £S3,554. Thanks also to our Sparks Partners- Global Goals Centre and our Arts Mansion collaborators The Friends ofAshton Court Mansion. We extend our deepest gratitude to all our donors. partners, staff, studio holders volunteers and supporters for your continued commitment to helping create space for creatives to make, develop. sell and showcase their work. Reserves policy Our review of the level of reserves forms part of our annual budgeting and forecasting process, where we forecast our anticipated income and expenditure for the year ahead. We also take into consideration the reliability of each source of income and any future needs where future income alone is likely to fall short of the amount of the anticipated costs. Total funds at year end Flestricted fu nds at year end Designated closing-out reserve. Loan repayments all as of In0125 Operating expenses for 12 months. Minimum reserves months Unrestricted funds at year end £304.555 General funds available £201.550 Less non liquid funds (tangible assets and investments) IU2,5181 Free reserves at year end 89.032 Target free reserves (min. 3 months of opexl 61,205 Su rplus free reserves £27,827 £328.516 £23,961 C72,028 £30.977 £644,818 We have designated £72.028 for closing-out costs lincluding staff redundancies, studio holder deposits, accountancy fees, legal fees, and move-out costs). These funds are held in a dedicated savings account to ensure these funds remain protected and available when required. Artspace Lifespace Reserves Calculation We confirm that our reserves policy has been met in YE 2025. We estimate that 3 months is an appropriate minimum level of general funds to hold. These free reserves can be spent in the following situations.. An unforeseen emergency or unexpected need for funds e.g. an unexpected large bill or seed funding for an urgent project. 17
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 To cover unforeseen day-to-day operational costs e.g. employing temporary staff to cover a long-term sick absence. To cover short-term deficits e.g. money may need to be spent before a funding grant is received. In this context. we define-short-term" to be within a 3 month period. Any deficits exceeding or expected to exceed this period would require trustee board consultation and approval. As a source of income to give ASLS time to take action if income falls below expectations e.g. grant income not being renewed Planned commitments that cannot be met by future income alone e.g. plans for a major asset purchase. Going eon¢ern Artspace Lifespace has historically operated on a self-sustaining, income-funded model. We work from challenging buildings provided at reduced or peppercorn rent. with overheads met primarily through earned income generated by venue hire and the letting of studio spaces. Any surplus from earned income is reinvested directly into sustaining the organisation and supporting our creative community. In the financial year ending 202425, The Island project reported a deficit, and we anticipate continued losses into year end 2026. However, all other earned income projects recorded a surplus, and the overall financial position of the charity remains stable. 2025 has been a year of considerable achievement and recognition. Artspace Lifespace was selected as one of only five Community Led High Street Innovators nationally through Power to Change, reflecting the growing significance of our model for community-led regeneration. We were also awarded a British Council Connections Through Cultu re grant supporting an international collaboration between UK and New Zealand artists- our first foray into international partnership working. After eight years of creative activity. we made the difficult but necessary decision to close The Vestibules at City Hall in October 2025, having been unable to secure the private investment needed to sustain its operational costs. While this marks the end of an important chapter, the space's creative legacy continues through Coe Gallery's seasonal exhibition programme and the Pride Hub, both of which remain based there with Bristol City Council SUPFxirL This decision reflects our ongoing commitment to financial discipline and ensuring that charitable reserves are deployed where they can have the greatest sustainable impact. Sparks Bristol continues to operate as an award-winning art and sustainabi lity hub, though like all of our venues it remains on a meanwhile lease basis. The trustees continue to monitor this position carefully and will pursue longer-term tenure where opportunities arise. 18
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Looking ahead, the trustees are satisfied that the charity has adequate resources to continue operating for the foreseeable future. Core funding secured through 2024 and 202S has provided the financial stability needed to meet ongoing operational costs, invest in staff development and pursue capacity-building initiatives. The charity enters 2026 in a stronger strategic position, with two exciting new projects underway with British Council and Power to Change, and a renewed focus on the long-term sustainability ofThe Island as our flagship venue. STRUCTURE. GOVERNANCE AND MANAGEMENT The charity's organisational structure A WTIPAC CEO TIy5teY5 K4wnwJw rwSII rtrrtenr FifpaThceOIficoi ASEL CLvdm•loro M•n•gv Cr•4llw•Produ¢w FKIlrtY5 Relationships between the charity and related parties ASLS operates a wholly-owned subsidiary, Artspace Lifespace Enterprises Limited Icompany No.103962841, which handles trading activities on behalf of the charity. This structure allows ASLS 10 generate income while ensuring that profits are reinvested into its charitable objectives. ASLS actively engages in partnerships with various organisations to further its goals-. The Invisible Circus-. A sister organisation with shared leadership. collaborating on site-specific performances and community projects. 19
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Global Goals Centre IGGCI-. Partnered with Artspace Llfespace to repurpose the former Marks & Spencer building in Broadmead into an arts and sustainability hub, featuring affordable artist studios and community spaces. We have Memorandum of Understandings governing our partnerships with these organ isations to avoid potential conflicts of interest and disputes. We are also part of other less formal networks such as the Bristol Culture Network. ASLS is an active member. contributing to advocacy, policy discussions, and shared cultural activities within the city's arts community, the Mycelial Network which connects 30+ Community Asset Developers across England and the Vacant PropertyTask Force. How the charity makes decisions The Chief Executive Officer ICEOI, Kathryn Chiswell Jones leads the staff team, which is responsible for the day-to-day operations of the charity. The Board of Trustees typically makes high-level strategic decisions including setting the charity's m ission and vision (usually with input from our staff and beneficiaries), approving budgets, and ensuring compliance with legal and regulatory standards. The CEO and staff are responsible for implementing the strategies set by the trustees, managing daily operations and making decisions related to the charity's programs and services. The trustees only use income or capital to benefit charities or purposes that are recognised as being in line with our charitable objectives including arts and cu Itural activities, protection or rejuvenation of difficult and historic bu ild i ngs, creating greater inclusion, improving our environmental impact and advocating for arts, cultu re and heritage in Bristol and beyond. Governing document Artspace Lifespace IASLSI has been delivering arts services in Bristol since 2006; formally registering as a company in 2012 and being established as a charitable incorporated organisation in July 2016. Artspace Lifespace was set up as a sister company by the Invisible Circus to manage the creative spaces. Our aim is to create art spaces that are sustainable, and we advocate for the adaptive reuse of buildings for creative purpose& In 2016, Artspace Lifespace became a charitable incorporated organisation ICIOI. The constitution was signed on 6th June 2016, stating that the object of the CIO is to promote art for the benefit ofthe public by the establishment and maintenance of facilities for artists from a variety of artistic practices to create works, to collaborate, and to present and perform those works for the public. Artspace Lifespace was entered onto the Register of Charities on Ilth July 2016 and started trading as a charity on Ist October 2016. 20
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Covernance & Recruitment of Trustees As of the time of reporting for Year End 2025. Artspace Lifespace is governed by 6 trustees who meet at least quarterly. We carry out regular skills audits of our trustees and new trustees are recruited as per the needs identified for a balanced board. by agreement with the existing members. We carry out an open recruitment process with trustee recruitment adverts on our webslte, social media and through sites such Voscur. We invite potential trustees to meet with our Chair or Charity Operation5 Manager before submitting and to observe a full board meeting before they are elected on the board. Arrangements for setting the pay and remuneration of the charit$ key management personnel and any benchmarks. parameters or criteria used in setting their pay. Staff pay, including that of key management personnel, is reviewed annually using the National Joint Council INJCI pay scales as the basis for setti ng remuneration across the organisation. Whilst the charity is not signed up to Living Wage accreditation, it is committed to ensuring all staff are paid at least the Fleal Living Wage, which is typically higher than the lowest NJC pay rates. Where the Real Living Wage exceeds NJC rates. staff on the lowest pay scales are uplifted accordingly. Where a Real Living Wage increase does not align with the charity's budgeted period, the uplift is applied in the following financial year., in the interi m, staff will always continue to receive at least the statutory National Living Wage. A small number of individuals engaged bythe charity on an ad-hoc basis operate on a self-employed basis. The charity has reviewed their employment status in line with HMFIC guidance and is satisfied that these arrangements are compliant. As self-employed contractors, these individuals are not employees and do not accrue employment rights such as holiday entitlement. Where appropriate, an uplift of12.07% is applied to their fees to reflect the short-term, project-based nature of thei r engagement and to ensure their overall rate is fairly aligned with the charity's lowest pay scale. Since 2017, the charity has been committed to reducing the pay gap between the lowest ar)d highest-paid staff. The pay policy ensures that no member of staff earns more than three times the salary of another. Salaries are benchmarked agai rlst NJC rates and salary uplifts applied at the beginning of the new financial year. RATES ALLOCATED FOR sfAFF Chief Executive Charit O erations Mana Venue Mana ers Creative Producers (Freelance) Finance Officer POS 38 Pol 27 Pol 27 Scale 6 SCP 21 Scale S SCP 16 er
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Senior Administrators / Coordinators ort Administrators / Facilities Venue Assistants Scale S SCP12 Scale 4SCP 9 Scale I SCP2 paid at Real Living Wage National Artists Urnion of En Freelance Artists land & Bectu Rates PO - (Principal Officer) SO = Isenior Officer) SPC - Scale ILevell SCP Ispinal Column Point Numberl Trust•• remuneration/8xpènses Trustee expenses of £236.25 for trustee training, trustee leaving gift and refreshments for Trustee meetings. K•y Staff Chang•s With thanks to Trustees Clarissa Jeakings Peri Stefanou and Richard Irvine who all stepped down as trustees in 2025. A warm welcome to Aran Dasan and Ben Stephenson who joined us as new trustees in 2025 and Rhiannon Jones who was appointed in 2026. In December 2024, Jenna Graves was appointed to the Venue Manager for Ashton Court Mansion, joined by Claire Francis18ookings Coordinator) until May 2026. Changes to management structure in September 2024. replaced the Company Manager role. Kathryn Chiswell Jones was appointed to the CEO role with Alice Newton taking on the new Charity Operations Manager role. Team Led Decision Making Our decisions as a Board are led by the team. We schedule team member meetings every month. This is an opportunity to talk through what's been happening over the last month and see what staff need support with, liaising with other venue team members for support. The output from the team meetings is then fed into decisions made at Board Meetings. The Board ofTrustees meets between 4-6 times a year with group chat and individual support as needed. The CEO is supported by monthly meetings with the designated chairlsl. The role of the chair is reviewed and rotated among the board every three months.
ARTSPACE LIFESPACE TRUSTEES, REPORT YEAR ENDED 30 SEPTEMBER 2025 Statement of Trustees, responsibilities The Trustees are responsible for preparing theTrustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporti ng Standard 102.. The Financial Reporting Standard applicable in the U K and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trustees to prepare financial statement5 for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities sor4P; make judgments and accounting estimates that are reasonable and prudent; • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Fleportsl Flegulations 2008 and the provisions of the constitution. They are also responsible for safeguard ing the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on ..23.J.uly.2Q2fj............................ Signed by order ofthe Trustees Aran Dasan Trustee Ben Stephenson Trustee
ARTSPACE LIFESPACE INDEPENDENT EXAMINER'S REPORT YEAR ENDED 30 SEPTEMBER 2025 Independent examiner's report to the Trustees of Artspace Lifespace I report to the trustees on my examination of the accounts of Artspace Lifespace Ithe Charity) for the year ended 30 September 2025. Responsibilities and basis of report As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Acr 20111'the Act'l. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given bythe Charity Commission under section 14515llbl of the Act. Independent examiner's statement Since the Charitys gross income exceeded £250.000 your examiner must be member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertakethe examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or the accounts do not accord with those records" or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Fleportsl Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. 24
ARTSPACE LIFESPACE INDEPENDENT EXAMINER'S REPORT YEAR ENDED 30 SEPTEMBER 2025 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 ernablo a proper understanding ofthe accounts to be reached. Otku LL glyit Joshua Kingston BS¢ FCA Burton Sweet Limited. Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 IUR Date- 23 July..2026
ARTSPACE LIFESPACE STATEMENT OF FINANCIAL ACTMTIES YEAR ENDED 30 SEPTEMBER 2025 UThr¢sthct¢d R¢strt¢ted Totsl F¥nds Totsl Fund$ Fund Funds 2026 2024 Income Irom.. Donations and grants Chari18ble adi¥168 Other trading abV"88 Investments 39.836 679,246 13,515 2.778 39.982 79,620 879,246 13,515 2,778 76.663 587.143 2.307 Total In¢•m& 735.377 39,982 775,359 666.133 ExpTrnditure on.. Raising lund5 Charitable aclwities 9.784 683.034 12.250 593.938 665.121 17.913 Total gxpondliurg 674.905 17.913 692818 606.188 N•t Incom(0xp•d1l9l 60.472 22.(119 82.541 59.945 Transfers been lunds 17 13781 378 N•t mov•m•nt In fund 22.447 82.541 59.945 Total fund• at 1 Oetob•r 17 244.461 1.514 245.975 186.030 Total fund8 th 30 S•pt•mb•r 17 304.555 23,961 328,516 245.975 Th• Charity h85 no r•Mgni5ed gain5 or othor IW tho frytho year as 5•t wt abovo. of Ihfr act5 oftho ch•rlty ar• d•55•d ¥5 crffilnuir*J. Th• prfor er fwd compwaU¥e8 W• 8el ou¢ in rMJl8 & The notes on pages 29 to 38 fonn part of these fknanclal statement 26
ARTSPACE LIFESPACE BALANCE SHEET AS AT 30 SEPTEMBER 202S 202S 2024 Fixed as&qt Tangible asse15 Investments 10 12.517 12.386 12.518 12.387 Curront auets Stock Debtors Cash al bank and In hand 259 115,198 351,202 466,659 122 63.116 278.244 341.482 12 CrndhoY8'. amounts f•lllng du• wlthln om y••r 13 1125,2401 Not £urr•rt a88•tts 341,419 264.372 Cr•dknrJ.' thmounts falllng du• aft•r mor• than om yoar 14 125.4211 130.7841 328,Sl8 245.975 Fund• Unre51ricted fund5 Resiricted funds 18 18 304.555 23.961 244.461 1.514 245 975 These fina41 si8iemems *re apwoved by th& Irusie8s on ..?. 3 July..2026 on their btrhaw by. . 8nd are $kJned Aran D85an Tru8tee Ben Siephen8on TnJ51ee Th• not•s om pagas 29 to 38 fomi part of tho10 fvancial stat•mon 27
ARTSPACE LIFESPACE CASH FLOW STATEMENT AS AT 30 SEPTEMBER 2025 X+25 2024 N81 tsh Inllow from owraiithg actIvb•& 14 77,693 50.405 Non-opor8tlonal tash IIow8'. lfivebtlng aGtlvltl•b Payments lor tangib fixed ass•lS Investment Income 12.1501 2.778 14.2311 2.3D7 628 11.9241 Fln•n¢lng actlvlti Loan repayments 15,3831 15.2271 15.3631 15.2271 N•t eabh Inllowllouffiowl ltsr th• y•ar IS 72.958 43.254 ¢a•hllow Rg¥trf¢llon¥ Ch8rity lèw prohibits the use ol c48h on any end¢yrtd or her 10 offset nel c•sh outftows oulslde Ns owi objects, excw ot) special authorrfy. In praaictr. this resifxiion has noi had any éffed on c88h fl0*8 Tho notss on p•909 29 to 3B fo p•rt 01th 1kn8n¢WI gt•tom•nls 28
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 I AGcounting policie5 al The financial slalemenls have been prepared ITh acwdance V4ith Ihe hi$torical cost convenlion lexcept there otherwse slated in the accounting policy nolel and in acwdance Slalemenl of Recommended Practice. Accounling and Reporbro by Chanlies preparirvJ their accwnls in accordance Ihe Finanoal Repornr Starard applicable In the UK and Republi¢ of Irdand IFRS 1021 issued in ouober 2019. aThJ I Finanual Reporting siandard applicable in the Lhiied J00M and Republc of Irdand IFRS 1021, and the Chanlies Aet 2011. Tha accounts lflnancial slalemenlsl have been piepared lo give a i1 aThJ fair Vlew and have departed from the Charibes (Accounts and Reports) Regulaiws 2008 only 10 the extent required 10 provhle a'irue and fair vlew.. Thls dtrparture has involved AccouniirKJ aThY ReportiNJ by Chariis". siaiemeni Rtrcommendtd Prècbce applicable 10 chèrilS prtpariNJ their accounts in 8c¢oid8nce Ihe Finan¢481 Rtrportiry Standard 8pplicablt in Ihtr UK and RtpuNic tsl Ireland IFRS 1021 tssued Ocaobèr 2019 taiher than the Ac¢ountiNJ and Reporting by Charitiès." Staièmenl ol ReC(xnfflèrtsd Pracbttr trffectNè from l April 2LKJ5 whi¢th ha$ sinctr bèèn vilhdravm. The chanty is a publc benefit enbty as deffiJ urbjer FRS102. Th TrSt88S uffl8kJer Ih8t there are no material uncertainlie5 affectw ihe 8bty of the chanty lo crrtirwje as a gtyr¥J clern. bl Inve51men15 Invesimenis are $181ed èi mark81 Val 81 Iha b81ance sh881 dai?. Th8 siatemeni ol Fian&al Aciiwts ItKIa5 Ihe nei galns and Io$s&s 8rlsing M maluatn5 and ¢sposal$ thrwjhoui the year. InV8strnan It) 8ubsidlarie8 èr& valLd 81 COSI kss provi&on lor impaim)eth. cl Flxed asséts are held ai cost ltrss acoJmulaied dtrprttlaknn. Asstt$ t4)$tity th8n £l,W) cl1811$8d. DÉpr8claiion 1$ calculaiÉd $0 •$ 10 y1 oIIIF ¢osi ol assd. $$ its eslimoiéd rè$xlu•l Y•luo. ovorthè u$èfvl Ilfe of thai •$w as lolbw5 E9uipmèni- 15% par 8nnthi rodUNa baL8 dl D¢bltr$ Trade 8nd other debtors 3r0 recognised al tho Se1YenI amounl after any Irade discounl offored. Prepaymenls are waKd al the amounl prepa afier lakiThJ 8ccwnl ol anydiscounls due. •) Credhtors Cr8drtO and pr0¥181on8 are recognised %%ttere lh& charty has a pr88eni 0ja)n resbrj trorn a past event that vlll probably resLII In the transfer of fuThYs 10 a third pany and the amouni io seiue the ON•tn can be measured or esiimaied reliabty. Crndhors and T81Y recog80 at Ihar sellthent amount atter èllowing for any di8counis due. n Cash al bank & In hand Cash 81 bank and $h in hènd indudes cash shtsrt hwJ14y INU investments a short maiurfty of lht months or $$ Ir(Nn the date Olawuisth or opnir¥J ol the deposit or simir atthunt. gl Income trom donaiims is In(knled in irKome wthen these aw recewable. 8X£Pt as I1.. 11 Mlhen donors 5peryfy Ihal ¢onalion5 gwen to charity must be used in firture occwnling period5. the income Is deferre(J until Ih05e penods.. Ill When doTh)rs Impose condiliw5 ¥bich have lo fvAfiIW before It tharity becomes ¢nlrtknJ to u¥fr ¥ Income, Ihe Income 1$ deferred unlil the prtrcoTrJib"w$ h•ve been mel. h) GRnts are r8cognlsed In in the siaiemem of Fin81 AcMdS year in thoy are reCeivaelp8Yab. All maiertal grnnts are discjosed In acdance ilh the Statemeni of Recommnded Prathce. 11 Legaues are recognised when Ihe thaiity is le9alty enirfied 10 the acy am(¥mt CAn te ouantffied wth reasonable accuracy. entitment Is regatded as the earlerof the chatity bemg notird of an imkndiNJ distribution or the legacy being retswj. 29
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 I AGcounting policie5 IGOlltinuqdl jl Expermliture Is recogn15eil In penod in which it is rKurred. ExperKldwe Inde5 aItn1xrta VAT cannot be recovered. kl Support costs are allocated enurely lo charilabk athlies. Go¥em8nce costs indude ts costs Ithch relate lo meeting the consliilrtn8leftd s18lltl requ1men1$ of1 (harffjt. 11 Unre&trKted funds can be u&ed in ar[danc with IhE dwrilablE obje(ts at the di5rxeti(N4 of the ttU51ees. ml D8swJnatsd funds are fLV)ds stri aStr by the trnss olunrtr¥#d general funds for spetifrt future putPOS8S or projects. Designated funds may btr rtrdtsWai rf. th the wnion ofthè trustsès. a LaNJ8 in c4rcumstsnt&$ makès this approwai•. n) Reslncted fvnds G4n only be used lor partiujlar reslrided purpDSes wthin abjeds of the tharity. Restnctio arise when speafied by Ihe donor or ¥then lunds are raised partslaT restricted puwes. Expendrture meets these criteria 15 charged lo the fund. together ¥Mlh a fair aloca¢Tr ol management and 5UPPOrt costs. Further extyanalion of the nature and purpose of each furKI J5 Indjed In Ihe notes to Tr finanual 51atemenl5. 2 In¢•m• Irom.. don•tbon8 and gtarbts Umr•8trfetsd R•btrfetad Fun Fuhdb Total Funda 202S Donoiion5 Don3lions in kind Grants 2.494 2.494 37.344 39.982 77.326 39.838 39.982 79.820 Prlor ye•r comp•r•t UnMtrl¢t•d R1¢1• Fut) Fut)d• Total Fund• 2024 Donations Donation from Artspace Lilesp8c Enterprises LlnNied Donations in kind Gr8nts 977 10.939 10.000 11.212 977 10.939 10.000 54.767 43.555 33.128 76.683 Grants rectyved IndS iho In9 go¥errfflonl grwts.. 2c*26 2024 Brlslol Clly Coundl Arts Councll Wesl of EnllIar Comtdned Auth¢xSty The Britlsh Counol 17.3H 8.672 24.991 22,3H 35.227 Don3lion5 in kind amounlin9 lo Nil12024." £10.(KX)I relate to donated professional Sery1 in re5ppL1 of the Spatk5 wojec¢.
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 3 Incrffifr from.. charitab activilies Unrestricted Restricted Funds Fund5 Total Funds 2025 Room Hire Studio Hire spa membeT5hip Events 351.155 311.067 15.901 1.123 351.155 311.(7 15.gD1 1.123 679.246 679.246 Prlor ye•r ¢pmp•r•tl¥g¥ LlnrHtrfctsd Rwtslcted Fun Tol•l Fund• 2024 Ror Hlro Studio Hire Spac member5hlp Events 313.968 258.320 13.81 1.024 313.988 258.320 13.811 1.024 587.143 587.143 4 In¢wno Irom.. oth•ltr1ng act5th¥ UnMtri¢t•d Rt¢t•d Total Fund• 202S Man8gemeni charge- Artsp8c Lrfe8p8ce Ertew Limited 13.515 13.515 13.515 13.515 31
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 S Exp•t)dltur8 on: charftabl• aciivhl Unrngtrictsd Ro8td¢t8d Total Funds 2026 Dlr8¢t Costs staff costs Events expenditu Donaiions lo projeds Support ¢Mts Suppm staff costs AdmlnisIri0n Mètheiin9 Reni and rates Prtmises and deanin9 COSIS Heal, 11ghl and waiÉr Mainieninte co&is Depreciaiitsn Insurance Proles5ional fee$ Finance costs Govorn•nM ¢o•ts Accountancy Twslee expen5e5 Independent examp5 fee5 48,662 8,743 49.$68 8.993 250 301,350 13,696 10,084 147,192 30,828 46,553 31.625 2,019 6.995 7.584 1,788 9,465 310.815 13.696 10.862 147.192 30.828 46.553 32.655 2.019 6.996 13.($ 1.788 778 1,030 5,484 1.905 236 4.197 236 4.197 Totsl expenditur• on th8rbtsbkry a¢bw18 865.121 683.034 Prlor y•ar compar•tl¥• UnrnAtrict•d R•Atdct•d Toial Fund• 2024 staff ttosis Events expendiiurtr Donations lo projed5 support ¢o•¢• Support staff co$tS Admin151rallon Marketing Renl and rates Premises and c488nlno c0518 Heal, Ilghl and water Malnlenance costs Depreclaiion Insurance Professional fe88 Finance costs Governance Accountancy Tslee expenses IrKlependenl examinefs fees 55.409 2.¢)07 2,011 18,201 57.420 20.268 60 205.0 13.569 2.400 103.840 37.853 53.th19 37.515 1.688 6.252 10.222 1.731 26,827 232.727 16.533 2.796 103.840 39.417 53.cfjg 42.127 1.668 6.272 10.222 1.731 4.812 20 1.491 167 4.110 1.491 167 4.110 T¢)tal expenditure tsn tharittib actMiS 537.283 593.938
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 6 Net inGomel lexwnditurel forthe yoar This is stated after charging.. 2025 2024 Deyeciation Independent examiref5 fee 2.019 3.270 357 570 1.688 2.970 yo 600 - current year - rfftor year ovwl wderpro¥ksi - other$ervi5 212024.. 31 Tr1868. re reimbursed eyn88s am¢t lo £7712024.. £1671 rewirffj lo trainiThJ. meelTrJ. Iravel and subsisten. 7 Staff cost• at)d numb•r• The aggregate payrdl cosls re.. 2026 2024 Wapes and sal8rfe8 Swal secunly cost5 ErnOyer.5 pen51M cwthbvliw5 Conlracled $iaff 270.356 15.407 186.402 9.253 3.677 135.549 57.179 348.442 334.881 No employee received olUmentS of more Ihan £60.OtKs. The average wéèkly numbèr ofemployees during the year. calcAlaied thè basis of 8 hèadc(vJtt. WAI as fol(M&. 2026 2024 No. He8dcounl 20 21 20 21 The Iruslees cm511Jer Ihe key mBnagemenl lo themsel$. Ihe CEO and the Ch•rty Oper¥tk)ns Monager Dwing the year. they received lolal reMrraIlW of £69.83312024. £38.4711. 8 Tax•tlon The chadly is exemw from cowalion lax on fts tharilable actMO88.
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 9 Fund Gomparntives Unrestricted Restricted Funds Fund5 Total Funds 2024 Incoffle frorn.. Grants and donakn5 Charrtable aclwrties Other Iroding actwibes Inve51men15 33.128 587.143 43.555 76.683 587.143 2.307 2.307 Totsl In¢offl? 622.578 43.555 666.133 Exp•t)dltur8 on: Fundraisiry Chariiablt aciivki&s 12,250 537,283 12.250 593.938 56,655 Total •xp•ndUV• 549,533 56,855 8C6.188 Not Incomollexpondlture 73.IMS 113,1001 59.945 Transfer5 between funds N•t movomont In lund¥ 73.045 113,1001 59.945 Total •t 1 October 2023 171,416 14,614 186.030 Totsl •t 30 S•pt•mb•r 2024 244,461 245.975 10 Tanglbl• Ilx•d a•i•tr Equlpmnt Tothi Cobt Al 1 Odob¢r 2024 AdiJib'on5 24,779 2,150 24.779 2.150 AI 30 September 2025 26.929 26.929 Dopreclatlon Al 1 Oclober 2024 Ch8roe for Ihe yo8r 12,393 2.019 12.393 2.019 AI 30 Septtrmber 2025 14.412 14.412 N•t book volu• AI 30 September 2025 12.517 12.517 AI 30 September 2024 12.386 12.386
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 11 Investments 202S 2024 Subsidiary Induded in investments In year is £1 nomin81 inveslment reLqbrMJ lo Artspace respeCe Enterprise$ Limw. Ihis enlily is a vtholty owed subsli8ry by Artspace bfespace CIO. Artspactr LItssp8ce Ethtrrpdstrs limit 1$ Ihtr subsvJi•ry of ihtr incotporated organisaiion. DJring thè year, thè profil aftèrtax amouniéd 10 £27.789 {2024. k)ss 01£5.6861 with ¥etsintrd rtrser¥ès bbing £24.OC612024. negaiivtr £3.7831. 12 D•btorn 2026 2024 Tfadtr debtors Prepayments and acGrwd inGome Amounts by 9row undertakings Othor debtor¥ 67.822 43.560 816 29.427 30.689 3.(K)O 115.198 63.116 13 •mouTht• hllln9 duo wHhlr one yur 2026 2024 Trade creditors Bank loan Accruals and deferred Iorne Taxalion and sodal ser Other creditOIS 39.703 5,556 51.492 5.175 23.314 20.547 5.556 24.541 3.570 22.896 125,240 77.110 14 Cr•dhthy.' amounts falllhg du• rM0 thn on• yr 2026 2024 Bank loan 25.421 30.784 25.421 30.764 The baTh*108n w85 unsecured.
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 IS Reconciliation of net rnovqmont in funth to net &iBh inllowfrom opBrating athii 2025 2024 Slalemenl of Financwl AdimIS.. Nel movement in fwx15 82.541 59.945 Investment ire Depreciation (Decrease) in creditors.. current l18t41S Decrease I Iirueasel In debtors Ilncre8sel I deL¥8ase in slo 12.7781 2.019 46,130 152,0821 12.3071 1.668 19.3651 444 Net u¥h loutllowylnllow from ow4Un9 4¢¥¥HI•¥ 77.693 50.405 16 Ahltyili ol ehang•b In tabh durlng th• 2026 2024 Chang• Cash al bank and in hand 351.202 72.958 202J ¢h•ng• Cash al bank and In hand 278,244 234,990 43.254
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 17 Movennt in funds At10ct 2024 Incom ExpBndiiur• Trdnbfevts At 30 Sep 202S ilnrostslct•d fund¥ General funds Design8ied funds C1051ng out reserwe Loan reserve 122.244 735.377 1674.gJ51 18.834 201.550 72.028 50.189 72.028 30.977 74.905 378 304.555 R88tYfjciod lun Hisloric England Fr 10 Ch8rKJe Cora Costs Arts and Philanthropy Conrciions TOugh Progrnm 1.514 11.5001 18.5351 14 8.947 15.000 17.482 15.ri)) 12.5001 15.3781 378 1,514 17,913 378 23.961 Tot1 furbdts 245,975 775.359 892.818 328.516 Prlor yur ¢omp•r•tl At10¢1 2023 Exp•nd1[ Tr•n•l• At 30 S•p 2cI24 General lunds De8*naied funds Closing out serVe Loan reserve 67.312 622.578 1549.5331 122.244 48.370 55.724 23.858 15.5451 72.028 50.169 171.416 622.578 549,533 244.461 R••tvlct•d fund• Sparks Art¥ Coundl Hi51oric Engl8nd Core Cost¥ 8r158es We51 of ErvJlaTrJ Comt4n8d Au¢hry I3,1C) 1.514 24.991 8.0911 1.514 1S.(i 11S.1)001 12.0001 11.5641 14.614 56.655 1.514 Total fundB 186 030 fil188 245 975 Arts Council- funds received itswards costs of Sparks brj an expeThnenial centre forart$ & Sustsinaknlity 10 help ctiti11Y rethink the cutrenl urban rn15 & lest r$1[al1e5. Spatk& aims to proYKle affordable & free exhibition. studio. $ustainab12 tall arKI R&D spao. efftth'ny artists to L¥eate ucational & Lreative experien5. Historic EnglÈnd- funds reoNed tts¥rards hEtiiage art wjtkshops. Wesl of Ervalar Comtdn8d Authuiiy- funds rec•¥ed forth8 pwtha88 OICCTV Equ1pftrt at SpaFk$ Brfstol. BrksBes- Fundiry for 6 Dp5k Spa5 frSi¥ fftonths at Spark5 Bristd &i5tol Refug AJts C(klective IBRACI. 37
ARTSPACE LIFESPACE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 30 SEPTEMBER 2025 17 Movomèrt In fund& lcomnU) Power 10 Ch8nge This fund represents granl fundiry ffrcth PrAEr 10 Ch8rMJe lo support ¢ommunity-led hh sireel regeneration. In&uding dewebping s. partrwships. 8TrJ prwls th brir¥J vacant cffjmmero81 prOpertS bad( Into community use. Core c0515 This fund rewe5ents u)re grant fundirwJ from NisbelTntsl and Gfidd Weston to SUPFK)rt organisatK)nal restructuring and capaaty buikling. indudirvJ StInIra and Magement rol25 lo enGLY2 the lor term 5U51ainabilty OfArtSpa Lrfe5Pa. Arts and Philanihropy Thls fund represents grani fundSrMJ Irc4n Cause4Lld lo delfver ariisl supwt %thshops. pro¥Adlry uealiv8 praetluoners th prèthic81 skills In finarrte. maik8iiThJ. bu81r$S p18nwo, and 981t$Sential$. Connection5 Through Culture Programffle This fund5 represents fundiw recewed trom T1 &"sh Cwnrj. The 8Th of th8 kyoiect i410 uni18 contemporary dance PfaCDIirS to ueale 8 pwrhJl (8¢6 ehTdoriTrJ dimate (ffisi$. D••lgn•t¢d Closing out reserve- lunds sel awde by the Iruslee$ ltywards 5taft redund8nDe$. $iudio hohY8r deposit5. aOnIan¢Y. legal fees and move wt costs as a cwlirMJew Ihe evenl of the r8nty n8ediThJ to d05e. Lo•n r888rvè- fuNJs asWJ& by Ihe tru•toai ttrwath m¢¢lYd thè l8bs. 18 An•ty•l• ol n•t a••ets •n lund• T•nqll>l• In¥•sthM Flxed a•8et• N•t Year •nded 30 Sept•mb•r 2020 Total General funds Oesignaied funds R•#1Cl•d lun 12.517 189,032 103,005 23.961 201.550 lo3.Cj5 23.961 12.517 315.998 328.518 Yg•r •nd•d $0 S•pt•mb•r 2024 T•nglbl• Inv•¥trrnt• Flx•¥ ••••l• N•t u••t• Tot•1 Unre8tvlct0d fvndB Gener81 funds Designated fund$ R88trlciod fun 12.388 109.857 122,217 1,514 122.244 122.217 1.514 12,386 233,588 245.975 19 Ralat•d FArt Art•ycfr Llfv¥p•c¢ Ent¢rpvl¥v Llmbtgd Trustees JS Fraws, WA Penhaul and ACS CW are 8180 dY8Ctors oltt companyArtsp•c8 r¢SpaCe Enlerprlse8 Limited. a subsHliary of the tharty. In the financial yearended JO Seplember 2025. Art5Pa LrfeSPa Enterprises Lim1 paid £6.258 12024." £10,939) lo Art5P3 Lrfespar, and tB1612024." £Nill wa5 due the chanty al the year erxl. In 8ddilion. Artspace Lilespace paid £Nil12024' £NI) lo Artspace LrfeSpe Enlerprises Limited arn1 Arispa Lrfespace Enterprises Limited pa EN12024.. £Nill 10 Artspace Lifespace in respect ofoverhe8d5. There are no other related paty Iran5aclion Olher than Ihose disdosed Ihoth the finanial statements.