REGISTERED COMPANY NUMBER: 08623240 ( England & Wales)
REGISTERED CHARITY NUMBER: 1174458
FUSE ART SPACE
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDING 28 JULY 2024

FUSE ART SPACE
COMPANY INFORMATION
FOR THE YEAR ENDING 28 JULY 2024
REGISTERED CHARITY NUMBER
1174458
REGISTERED COMPANY NUMBER
08623240 ( England & Wales)
REGISTERED OFFICE
1- 3 St Ann's Place
Pellon Lane
Halifax
HXI 5RB
TRUSTEES
Mr D Parrott
Mr D Rogerson
M r J Blrchall
The charity Is managed by a Board of Trustees.
The following served as company directors during the
year:.
Mrj Birchall
Ms S Faraday
INDEPENDENT EXAMINER
Torevell Dent Limited
1- 3 St Ann'5 Place
Pellon Lane
Hallfax
HXI 5RB

FUSE ART SPACE
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 28 IULY 2024
Report of the Trustees
Independent Examlner5 Report
ststement5 of Flnanclal Actlvities
Balance Sheet
Notes to the Flnanclal Statements
6-10

FUSE ART SPACE
REPORT OF THE TRUSTEES
FOR THE YEAR ENDING 28 JULY 2024
The Trustees of the charity present thelr report with the financial statements of the charity for the year
endlng 28 July 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charlties:
Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS102) l Effective l January 2015).
OBJEcfivE AND ACTIVITIES
Oblect and Alms
The objectives of the charity is to advance education for the public on the subject of the arts by the establishment
and maintenance of an art gallery.
Fuse Art Space is an art gallery, performance venue and arts educatlon project. It curates and hosts concerts,
performances, exhibitions and workshop5, and provides opportunities for people to enjoy, engage with, learn
about and partlclpate in art, music and performance actlvlties.
ACHIEVEMENT AND PERFORMANCE
Charltable actlvltle5
The charlty was able to provlde more educational projects this year and all proved to be very successful. Each
year the Intake of students Is growing steadily, reflecting the growth of the community the charity serves.
FINANCIAL REVIEW
Flnanclal posltlon
Durlng the year the charities net Income was £29,502 (2023 net expendlture: £8,025), increaslng the charltles total
reserves to £23,95812023 :1£5,54411,
Investment pollcy and objectlves
Under it5.Memorandum of Association the charity has the power to invest In any way the trustees wish.
The Trustees, having regard to the liquidity requirements of operating the charity have maintained a policy of
keeping available funds in interest bearing deposit accounts.
Reserves Pollty
The trustees have established the level of reserves (that is those funds that are freely avallable) that the charity
ought to have. Reserves are needed to bridge the funding gaps between spending on activities and receiving
resources through voluntary donation5 and grants. The trustees consider that the ideal level of reserves as at
28 July 2024 would be three month5 of the expenditure which equates to £64,478.
The actual reserves available at 28 July 2024 was £23,958. The trustees review the funds regularly to ensure that
there are sufflclent reserves to provide financial stabS11ty and flexibility.
PAGE I

FUSE ART SPACE
REPORT OF THE TRUSTEES (contlnued)
FOR THE YEAR ENDING 28 JULY 2024
FUTURE PLANS
Fuse Art Space will continue to expand and develop. its activities to provide encouragement and opportunities for
people to enjoy and participate in and perform actiyities.
STRucfuRE GOVERNANCE AND MANAGEMENT
Governlng Document
Memorandum and Articles incorporated 22 July 2017 and amended by special resolution 25 August 2017 due to
the change of its name.
Recruitment and appointment of new trustees
New trustees are appointed due to their interest in the work of the charity and their recognised experience
in specific fields which will further support the work of Fuse Art Space. Trustees can retire when they wish as
they do not serve under a fixed term of tenure.
No trustee had any beneficlal Interest in any contract wlth the charitable entlty durlng the year.
Potential trustees are invited to informally attend trustee meetin8s prior to appointment and a comprehensive
induction programme is available, Additionally, individuals may undertake external training in a particular area of
their role on the Governing Body.
Organlsatlonal Structure
The Board of Trustees administers the charity. The Board meets twice quarterly. The Board of Trustees Is assisted
by the charity's directors.
Indurtion and Training of new Trustees
The charitable entity strives to ensure equal opportunities and diversity in the employment of staff and trustee
appointments. Selection criteria and procedures are regularly reviewed to ensure that individuals are selected,
promoted and treated on the basis of thelr relevant merlts and abilitSes.
Wider Network
At present Fuse Art Space does not consider itself part of a wider network.
Rlsk Management
The trustees have a duty to identlfy and review the risks to which the charity is exposed and to ensure appropriate
controls are In place to provlde reasonable assurance against fraud and error.
PUBLIC BENEFIT REPORT
The trustees have referred to the guidance contained in the Charity Commission's general guidance on public
benefit and 'The Advancement of religion for the Public Benefit, in particular, when reviewing the aims and
objectives and in planning the charities future activities. In particular, the trustees consider how planned
activlties will contribute to the aims and objectives set.
Approved by order of the board of Trustees, and signed on its behalf by:
24/0412025
Trustee
Date
PAGE 2

Independent Examlnerfs Report to the Trustees of Fuse Art Space
For the year ended 28 July 2024
I report to the charlty trustees on my examination of the accounts of Fuse Art Space for the year ended
28 July 2024.
Responsibilitles and basis of report
As the charity's trustees of the Trust you are responsible for the preparation of the accounts in accordance with
the requirements of the Charities Act 2011 ('the Act,).
I report in respect of my examination of the Trust's accounts carried out under sectlon 145 of the 2011 Act and
in carrying out my examination I have followed all the applicable Dlrections given by the Charlty Commission
under 5ectlon 145(5)(b) of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no materlal matters have come to my attention in
connection with the examination givlng me cause to belleve that in any material respect:
accounting records were not kept In respect of the Trust as required by section 130 of the Act,. or
the accounts do not accord wlth those records; or
the accounts do not comply with the appllcable requirements concerning the form and content of
accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than anv
requirement that the account5 give a 'true and fair view, which is not a matter considered as part of
an independent examination.
I have no concerns and have come across no other matters in connection wlth the examination to which
attention should be drawn in thls report in order to enable a proper understanding of the accounts to be
reached.
S J Sutcllffe F.C.C.A,
Torevell Dent Ltd
1- 3 St Ann's Place
Pellon Lane
Hallfax
West Yorkshlre
HXI 5RB
Date:
PAGE 3

FUSE ART SPACE
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDING 28 JULY 2024
2024
UNRESTRICTED
FUNDS
2023
TOTAL
FUNDS
RESTRicfED
FUNDS
TOTAL
FUNDS
NOTE
INCOME AND ENDOWMENTS FROM
Charltable Actlvltles
Education and activitie5
287,412
287,412
208,414
Investment Income
TOTAL
287.412
287,412
208.414
EXPENDITURE ON
Charltable Actlvltles
Education and Activltles
257,910
257,910
216,439
257,910
257,910
216.439
TOTAL INCOMEIEXPENDITURE
29,502
29,502
(8,025)
RECONaLIATION OF FUNDS
Total Funds Brought fonvard
{5,544)
(5,544)
2,481
T¢)tal FUNDS CARRIED FORWARD
23.958
23,958
(5,544)
PAGE 4

FUSE ART SPACE
BALANCE SHEET
FOR THE YEAR ENDING 28 JULY 2024
2024
2023
TOTAL
FUNDS
RESTRICTED
FUNDS
UNRESTRICTED
FUNDS
TOTAL
FUNDS
NOTE
FIXED ASSETS
Investments
1,303
285,796
1,303
285,796
Tanglble Flxed Assets
238,558
CURRENT ASSETS
Debtors
24,145
53,778
24,145
53,778
ii,oio
53,000
Cash at Bank
CREDITORS
Amounts falling due within one year
1264,590)
{186,6671
{264,590)
(186,493)
NET CURRENT ASSETS
1186.6671
(122,483)
TOTAL ASSETS LES5 CURRENT LIABILITIES
100,432
100,432
116,075
CREDITORS
io
176,474)
176,474)
(121,619)
Amounts falllng due after more than one year
NET ASSETS
23,958
23,958
15,544)
FUNDS
Restiicted Funds
Unrestrlcted Funds
(5,544)
(5,544)
15,544)
(5,544)
TOTAL
The charitable company Is entltled to exemption from audit under Settion 477 of the Companies Act 21YJ6
for the year ended 28 July 2024.
The members have not required the company to obtain an audit of its financial Statements for the year
ended 28 July 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibility for:.
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and
387 of the Companies Act 2006 and
Ib) preparing financial statements whlch give a true and fair view of the state of affairs of the
charitable company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Section 394 and 395 and which otherwise
comply with the requirements of the Companies Act 2006 relatlng to financial statements, so far as
applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable
companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on241041202%nd were signed on its
behalf by :_
Trustee
PAGE 5

FUSE ART SPACE
NOTE5 TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 28 JULY 2024
I ACCOUNTING POLICIES
Basls of Preparation
The flnancial statements of the charitable company, whlch Is a public benefit entlty under FRS102, have been
prepared in accordance with Charities SORP (FRS102) ' Accounting and Reporting by Charltles: Statements of
Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial
Reporting Standards applicable in the UK and Republic of Ireland {FR5102) (effective l January 2015),. Flnancial
Reportlng Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and
the Companies Act 2006. The financial statements have been prepared under the historical cost
convention.
Goln8 Concern
The trustees, in thelr consideration of going concern, have reviewed the charities future ca5hflow forecasts
and income projections which they believe are based on market date and past experience of similar charities.
The charlty Is subject to a number of slgnificant risks and uncertaintles, which could affect the charity's ability
to meet these forecasts. The trustees belleve that the charity Is adequately placed to manage its business
risks.
After maklng enqulrles, and taklng into account the above, the trustees have formed a Judgement, at the time
of approvlng the financial statements, that there is a reasonable expectation that the charity has adequate
resources to continue in operation for the foreseeable future. For this reason, they have adopted the goin8
concern basis in preparSng the financial Statements.
Exemptlon from preparlng a cashflow statement
Exemption has been taken from preparin8 a cash flow statement on the grounds that the charltable company
qualifies a5 a small charitable companv.
Income
All income is recognised In the statement of Financial Actlvltles once the charlty has entitlement to the funds.
It is probable that the income will be received and the amount can be measured reliably.
Glfts In klnd and donated servlces
Gifts In kind and donated services are included at the lower of their value to the charity and thelr estimated
market value.
Expendlture
Liabilities are recognised as expenses as soon as there is a legal or constructive obllgation committing the charity
to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the
amount of the obllgation can be measured reliably. Expenditure is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attributed to particular headings they have all been allocated to activities on a basis consistent with the use of
resources.
Charltable Actlvltles
The cost of charitable activities comprises those incurred by the charity in the delivery of its activities and
services for Its beneficiaries. It includes both costs that can be allocated directly such as activities and those
Costs of an Indirect nature nece55ary to support them.
PAGE 6

FUSE ART SPACE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDING 28 JULY 2024
ACCOUNTING POLICIES (Continued)
Governance Costs
Governance costs comprise those costs associated wlth meeting the constitutional and strategic requirements of
the charlty and the accountancy fees and costs linked to the strategic management of the charity.
Tanglble Flxed A55et5
Tangible flxed assets are carried at cost le55 accumulated depreciation and accumulated Impairment loss.
Depreclation is provlded at the followlng annual rates In order to write off each asset over its estlmated useful life.
Plant & Machlnery
25% Reducing balance
Fixtures & Flttings
25% Reducing balance
Computer Equipment 25% Reducing balance
Motor Vehicle
25% ReducSng balance
Freehold Property
No Depreclation
Taxatlon
The charlty Is exempt from corporation tax on its charltable activitles.
Funds Accountln8
Unrestricted funds can be used in accordance with the charitable objectlves at the dlscretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Re5trlctions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Cash at 8ank and In hand
Cash at bank and In hand represents such accounts and Instruments that are available on demand or have a maturlty
of less than three months from the date of acqulsStion. Deposlts for more than three months but less than one year
have been dSsc105ed as short term deposits.
Credltor and Provlslons
Creditors and provisior15 are recognised when there is an obllgation at the balance sheet date as a result of a past
event, it Is probable that a transfer of economic benefit wlll be required in settlement, and the amount of the
settlement can be estimated reliably. Creditors and provlsions are recognlsed at the moment the charlty anticipates
It wlll pay to settle the debt. They have been discounted to the present value of the future cash payments where
such discounting Is material.
Loan & Borrowlngs
Loans and borrowings are initially recognised at the transaction price Including transaction costs. Subsequently, they
are measured at amortised cost usin8 the effective interest rate method, less impairment.
Service provided by Volunteers
For the purpose of these accounts, no monetary value has been placed on volunteer services as it cannot be qualifled
reliablv.
PAGE 7

FUSE ART SPACE
NOTES TO THE FINANCIAL STATEMENTS { Continued)
FOR THE YEAR ENDING 28 JULY 2024
2 CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
Preparation of the accounts requires the trustees and management to make significant judEements and
estimates. The Items in the accounts where these judgements and estimates have been made include
estimating the useful life of tangible flxed assets.
3 INVESTMENT INCOME
2024
2023
Deposit Account interest
4 NET INCOME /{EXPENDITUREI
2024
2023
Net Income/(Expenditure) Is stated after
char8ing/(Creditin8):.
Depreciatlon - Owned assets
17,400
1,653
5 TRUSTEE REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ending 28 July 2024 (2023 - £ Nil)
Trustee's Expenses
There were no trustee's expenses paid In the year ending 28 July 2024 (2023 - £ NIL)
6 STAFF COSTS
The average monthly number of employees during the year was a5 follows:
2024
2023
All staff work on a voluntary scheme or a￿ self employed
PAGE 8

FUSE ART SPACE
NOTES TO THE FINANCIAL STATEMENTS { Continued)
FOR THE YEAR ENDING 28 JULY 2024
7 INVESTMENTS
During the year the Charity purchased £1,303 of Crypto Currency { 2023 £ NIL}
8 TANGIBLE FIXED ASSETS
FREEHOLD
PLANT &
FixfuRES & COMPUTER
PROPERTY MACHINERY FIThINGS EQUIPMENT
MOTOR
VEHICLES
TOTAL
COST
As at 29.07.2023
Additions
Disposals
As at 28.07.2024
233,599
3,164
5.076
5,287
9,620
2,495 254,165
59,562
64,638
233,599
8,240
5,287
9,620
62,057 318,803
DEPRECIATION
As at 29.07.2023
Charge for year
Eliminated
As at 28.07.2024
2,986
1,314
4,554
183
6,361
815
1,706
15,088
15,607
17,400
4,300
4,737
7,176
16,794
33.007
NET BOOK VALUE
Z024
233,599
3,940
550
2,444
45,263 285,796
2023
233,599
178
733
3,259
789 238,558
9 CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR
2024
2023
Bank Loans and overdraft5
Other Loan5
Other Creditors
Accrued Expense5
4,535
30,828
227,949
1,278
25,581
159,874
1.038
264,590
186,493
10 CREDITORS: AMOUNT FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Bank Loans and overdrafts
Other Loans
26,790
49,684
121,619
76.474
121,619
PAGE 9

FUSE ART SPACE
NOTES TO THE FINANCIAL STATEMENT5 ( Continued)
FOR THE YEAR ENDING 28 JULY 2024
11 LOANS
An analysis of the maturity of loans is given below:
2024
2023
Amounts falllng due wlthln one year on demand:.
Bank overdraft5
Other loans
4,535
30,828
35,363
25,581
25,581
Amounts falllng due between one and two years
Bank overdrafts
Other loans
4,535
30,828
35,363
30,841
30,841
An￿Unts falllnK due between two and flve years
Bank overdrafts
Other loans
22,255
18,856
41,111
90,778
90,778
12 MOVEMENT IN FUNDS
2024
Asat
Net
Asat
29-Jul-23 Movement 2&Jul-24
2023
Asat
Net
Asat
29-Jul-22 Movement 28-Jul-23
Restrlcted Funds
Unrestrlcted Funds
General Funds
(5,544)
29,502
23,958
2,481
{8,025)
{5,544)
TOTAL FUNDS
(5,544)
29.502
23,958
2,481
(8,025)
(5,544)
2024
Incomlng Resources Movement
Resource
Expended
in Funds
2023
Incomln8 Resources Movement
Resource
Expended In Funds
Restrlcted Funds
Unrestricted Funds
General Funds
287,412
(257,910)
29,502
208,414
(216,439)
{8,025)
TOTAL FUNDS
287.412
(257.910)
29,502
208,414
1216,439)
(8.025)
Unrestricted funds represent funds available to the trustees for the general purposes of the charity.
13 RELATED PARTY DISCLOSURES
There were no related party transactions for the year ending 28 July 2024 or the year ending 28 July 2023.
PAGE 10