REPORT OF THE TRUSTEES AND UNAUDITED FtNANCIAL
STATEMErirs
FOR THE YEAR ENDED 31 MARCH 2024
FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: 11896600

REPORT OF THE IRUSTEES AND ifNAUDIT£D FINANCtAL STATEMErifs FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: 1189660
For th¢ year ended 31 March 2024
Charity Information
Receipts & Payments Accounts
Statement of Assets & Liabilities
Notes to the Acwunts
10.11 Independent EXan]1￿,5 Report

REPORT OF THE TRUSTEES AND UNAUDrfED FtNANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISIERED CHARITY NO: 1189660
CHARrrY INFORMATION
For the year endlng 31 M8rGh 2024
Maln addre&8
Yeovil Art Space
Unit 23 Vicarage W&lK Quedam Shopptn8 Centr4 Yeovil. Somerset BA20 IEU
Truste
T8msln Mendelsohn (Chair) (joined from l April 2023)
Carolyn TaYle￿Webb
Rhlannon Cross
Mark Pender (joined from l April 2023)
Sara Duthnan Uoin¢d from l April 2023)
Bank
Natwest
Alm8 and objeetlves
Founded on 27 May 2020, Yeovil Art Space c'yAS￿ is a charitable organlsatlon and a ¢r¢ativ¢ hub In
Yeovil, which aims to bring art and effAtivity to the local community and vlsltors. Projects are run In
partnershlp wlth organisations, businesses, groups and Individuals to provide arts and cultural
actlvltles for people of all 8g¢s. Aclivities include particlpatory events, learning workshops, art
exhibitlons and sl￿w¢aSed work in other locations in the town.
Ch4rltsble obJe¢tlves
For the publi¢ benefit, the advancement of education in the arts in Yeovil and surrounding are&q
through the provision of visual arts, including but not limited to digital, moving image, 2D & 3D
contemporary art and design.
Structhrej governAnc¢ and manAgement
YAS is constituted as a charltsble incorporated organlsation (CIO) and is governed by a constitution
on the 'ASS￿l￿tiOn, Model wlth membershlp. T￿￿teeS are elected by members in a general meeling.
YAS is registered with the Charity Commission for England & Wales, Number 1189660.
On th¢ 1st of April 2023, Zoe Ll was appolnted as Executive Director, Jess Egan w8s appointed as
Marketing and Communication Manager and Natasha Rand was appointed Ls Engagement Direotor.
They are on & freelance contract with a 6-month review basis to forn a leadership team to share
management responsibillty with the organisation.

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: [189660
TRu￿EEs REPORT
For year ended 31 MArch 2024
The I￿Stee3 have read the Commission's Public Benefit requIrem￿t statutory guidance. and have had
regard to ihis when running the charlty.
AppolntmeDt And Tralnlng ofTru8tees
Th¢ members of the BoArd Appolnl new Trusiees for the time bein& Bxisiin8 Trustees are aware of the
n¢¢d to draw candldates who bring relevant skll]s and expertlse to the charlty. Pot¢ntlal ¢andld4t¢s
meet wlih the Executive Dlrector who ensures that they know Yeovll Art Space and discuss the
position with them. They are then invited lo attend Board meetings and a 12-month on-board
programme, including mentoring and training, to ensure that they are aware of the commitment and
responsibility of becomin8 a Trustee. A trnstee folder includes all relevant docurnenls and inforniation
Ihat wlll be Clreulated, including the Charity ConstIt￿10Th, 4 Sel of guidelines and toolklts from the
Charity Commission and other resour￿$, a copy of Ihe most recont accounts and minutes of the last
Board me¢tiDg 1$ giv¢n to th¢ potentlal ¢andldat¢ who Is then Invlt¢d tojoln th¢ Board. A fo￿al
resolutton ftir appolntment Is put to vot¢ by the members at th¢ Annual AGM.
Chirlty A¢tlvl¢ks
This year, we fticus on the maln project Story of Yeovil, vthl¢h wLq dellvered from October 2022 to
Au8USt 2024. In portnershlp with the Unlverslty of the West of England Reglonai Hlstory Centre,
Siory of Yeovll eelebrates Yeovil's heritage at the heart of the community to develop a sense of pride
and place. by exploring stories of Yeovil's past, present and future through ¢reatlvlty, Includlng
community herltage forums, young Ambassadors programme, creative wrltlng and visual arts
workshops. Morts thon 800 YeovAI residents across different generatlons and In underrepresented
communitics w¢rc invlted to lake part. We worked wlth more than I S partners and 20 volunteers lo
Co￿reate 3 exhibitions and ev¢nts programmes In multiple locations across the town, attractins more
than 7,000 re¢ord¢d visits.
In June 2023, w¢ were awwd¢d fill￿ing from the Open Mentsl Health Grant & SomeYse¢
Commulllty Foundatloll to carry out a pilot prosramme whlch we towcreated and ¢Owdelivered wlth
NHS SDmerset, Able2Aehieve, Yeovll Dlver81ty Projeet And Yeovll GatewAy, bringing creative
ctlvities to support the mental well-being of more than 50 individuals from marginaIised
communities. A toolkit will be published in June 2024 with a series of case studies to strengthen the
casc for fiwther support of these services.
Grant Funding
Of partlcular note relating to YAS, actlvlties in the year were:
A Service Level Agreement with Yeovil Refresh Total £48.000 between 2022-2024. £30,000 has
been received in 2023-24 for the core cost to develop YAS, offer complimenting the Yeovil

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: 1189660
Refresh Teg¢n¢ration pla￿ including brlnging arts and Gulture to the high street atHI developing
pllrtnerships, includin8 Story of Yeovu.
A Servi¢e L¢v¢l Agr¢¢ment with Yeovil Town Council of £IO.000 for 2 years between 2022-24,
£5(M)Ofyegr. £5000 has been recelved in th¢ Gurrcnt year 2023-24 w&$ for th¢ scryices that hAve
been delivered In 2022-23.
Successful funding application of Op¢n M¢ntal Health Grant £9,500 and Somerset Community
Foundation £4,500 to dclivcr awelkbeing project with Yeovil Diversity ProjecL Yeovil NHS
Foundation Th￿t, Able2Achieve and Wel¢om¢ Hub at Yeovil Gateway.
Received 2nd payment £38,561.20 from Heritage Lottery Fund io Gontinue to dellver the Story of
Yeovil proj¢Gt until August 2024.
ConsvItAn¢y & Commlmlon
A $tr4t¢gi¢ mmls51on has been received from Somerset Council to cover tho fee of Engagement
Dlrector Nth￿h8 R8nd to carry out the rolc of Connect Somerset Clwnplon, W¢ reccivcd £25,395 to
ver services In 2023-24 and £29,564 for 2024-25, both ￿¢¢iVed In the financial year 2023-24.
Consulian¢y for this period is £650 from consultancy to Westfleld Academy. Significant reduction in
Consultancy from School due to the free offer we have provided by the Story of Yeovll projeci.
compared to the prev10￿ ye8rf5 £19,700 whlGh Included consultancy Income from Love Yeovll on
slr&t¢glc prOj￿ts. Inoonie for strateglc projects is now covered dlrectly by grant fi￿dIng.
EArned Ineome Other Thgn Collsultsn¢y
Totsl earned Incomè {retall and WQTkshop5) is £7,955, decreased from £9,575 in 2022-23.
Goods sold from the shop Is £4,892. signlflcanily reduced from the previous yeavs £6,466
Workshops- Summer school & Art Club Is £3,063 (No In¢oma from other workshops)
Hlre of venue £490
However, Membership subscriptions totalled £1,707 (£1,669 after commission charges of the Square
payment portal) from over 60 members of Yeovil Creatives. There was A slgnlficant increase in
membership compAred io the previous year's £989. Thls mainly due to successful coordlnatlon
and networking support provided by Jess Egan.
Re8erYe Pollcy
It is recommended that when deciding on the desired level of reserve current Income str¢8ms aro
considered. It is further suggested that YAS retain reserves to cover Its Ilabllltles for slx months. A 3
month reserye w&8 achleved In the financlal year 2023-24. Thls should glve enough tlme for YAS to
seek alternatlve fillidlng andlor review Its operational model to continue deliverlng Its charlty
objectives.
YAS hold reserves for the following reasons:
To ensure the business continuity in the event of a major source of income is lost
To ensure that YAS can pay all its liabilities, including staff
To demon5trat¢ YAS'S fu)an¢ial r¢slll¢nce to potentlal fUl￿erS
To maintain the premlsgs in good worklng order and undenvrite any costs associated with this

REPORT OF THE TRUSTEES AND UNAUDtTED FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 hL4RCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHAIUTY NO: 1189660
To ¢nsuTe funds for specific proJ¢Gts wed appropriately
FinanGiat reserves fall into three ¢at¢gories:
Unrestricted Free Reserves: to cover liabilldes, ¢onting¢ncie5, unexpected exp¢ndlture, and shortfalls
in income as well as enable the organization to start new activities, havlng th¢ capability to offer
match-funding for projects and enable YAS to respond to opportunities
Designated R*serYes'. set 8sid¢ to manage costs relatin8 to the replacem¢nt of fixtures and fittings ar
building malnienance as well as expenditure eommitted for speGific puryoses but excluded from the
fonn81 restrletlon
Rutrlcted Reserves: grants andlor other monies received for a specific purpose.
Current Res￿
YAS retained £15.000 In Unrestricted Free Reserves R8 a business condngency for the projected
rltrtning cosl in 2024-25, including ren( Ilabllltles to freelance staff cos¢ electrlcity. le8ai costs and
Athninistration costs for up to 6 months.
The free reserve tsrget Is regularly r¢vicwed to ensure that It meets tho organlsatlon's changing
stafflng needs. The Tr￿51¢¢5 are responsible for keeplng propor ac¢ounilng records that dlsclose with
reasonable accuracy at any tlme the fllwiclal poslilon of the chArity.
FlnAndal Rovlew
Ther¢ 8rn no fillmls held by the charlty that are materially in defiGIt, Fundraising actlvlties complied
with the guldellnes set by the EulllEdi￿r forbiddlng to acceptance of donatlons from
polltlcal partles and lo advance any religious belief. The Trustees are r¢sponsible for keeping proper
accounting records that disclose with re&sonable Accuracy at any time the financial posltion of the
charity. The Trustees are also responsible for saf¢guardlng the assets of the charlty and hence taklng
reasonable step5 for the preventlon and detection of fraud and other irregularides. The trustees
confirnied there has been no fraud or $u5P¢Ct¢d fraud, suspiciou5 activitles or related party
Ir8nsaclions in the ycar. The above report been prepared in accordance with the ChArities SORP
(FRS 102).
Yeovil Art Space is a Charitable Incorporated Organisation and is a corporate body but is not a
company incorporated under the Companies Acts. it Is therefore not subj¢Gt to company regulatlon.
However, YAS follows the guidance and good practice of Charities SORP (FRS102) and Charities
Commission guidelines. The financiftl statements comply with the Charltles Act 2011. the
Consuitstion and Reporting by Charities: Statement of Recommended Practice applicable to chathles
preparing their accounts in accordance with Financial Reporting Standard 102.
Slped OD behalf of the board of trustees:
Trmsln Mendelsohn (Chalr)
15 December 2024

REPORT OF THE TRUSTEES AND UNAUDtTED FINANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: 1189660
RECEIPTS AI¥D PAYMENTS ACCOUNrs
for the year ¢Dd¢d 31 M4r¢h 2024
2023-24
2022-23
Unrestricted
Funds
Restrlcted
Funds
RECEIPTS
Totsl
Sour¢e5
Grant (Restricted Fundlng- Note 2)
Grant (Unrestricted Fundlng- Note 2)
Eamed Incom¢ (Consult8ncy)
Retsil & Workshop5 (Art Club & Summer
school)
M¢mber8hip Fees
Venue Hlre
107,520
107,520
59.507
47,954
650
47,954
650
35,126
19,700
7,955
1,707
490
7,955
1,707
490
9,575
989
330
Donations
955
955
239
TOTAL RECEIPTS
59,711
107,520
167,231
125,466
PAYMENTS
Direct Project Costs (Restricted Fundin8)
Direct Projeet Costs (Unrestricled Funding)
Administration Costs
100,894
100,894
35,245
37,326
22,713
37,089
1,731
37,089
1,731
14,448
154,162
Ov¢rheads
14,448
,114
103,398
TOTAL PAYMENTS
53,268
100,894
NET SURPLUSI(DEFICIT)
6,443
6,626
13,069
22,068
Total Cash fimds at start of the perlod
Total Cath funds carried forward
27,845
39,329
45,955
67,174
80,243
45,106
67,174
34.288

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR
THE YEAR ENDED 3 L MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHAIUTY NO: 1189660
STATEMENT OF ASSETS AND LL4BIL￿I￿s
for the year ended 31 Mareh 2024
ASAT
3110312024
Totsl
Unrestricted
Funds
Restricted
Fun(Ls
CASH FUNDS
Current Ac¢ount at Bank
34,212
45,955
80,167
Petty C&sh
TOTAL CASH FUNDS
76
76
34,288
45,955
80,243
OTHER ASSETS & LIABLLITIES
Other Monetary Asse￿ Investment Assets and Assets
Retsined for the Charity'5 Own Use
Liabillties
TOTAL ASSETS LESS LIABILITIES
34,288
45.955
80,243
Signed on behalf of the tr￿e¢S by:
PrintNam¢ Tamsin Mendelsohn
PrintN2me Mark Pender
Signattre
Date 15 December 2024

REPORT OF THB TRUSTEES AND UNAUDrrED FNANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: 1189660
NOTES TO THE ACCOUI¥TS
for tbe year ended 31 Mlrch 2024
R￿QlPts and Payments A¢¢oullts
Rccelpts and payments accounts ar¢ 3tat¢ments that summarlse the mov¢m¢nt of cash Into and out of
ihe or8anisation during the fin￿¢1￿1 year. In thls conlexl .¢￿h, in¢lud¢s Cash equlvalents, ftir
examplé, bank accounts where cash ¢An be roadlly withthawn to pay for d¢bts as they become due.
Charities registered In England and Wales that are twt companle¥ aT¢ allowed ut)der section 133 of th¢
Charltles Act 2011 ('the ChArliles Act,) to prepare recelpts and payments a¢¢ounts provided the
charity's gross Income is not over £250,000.
Grants
Reeelpts Ineludo the following Grants received in thig flnanclai year.
The National Lottery Heritsge Fund
O en Mental Health Grant
38,561
9,5C¥)
4,500
54,959
11,453
30,000
s,000
1500
155,474
Somerset Communlty Foundation
Somerset Council (Connect Somersel)
Somer5et Sktlls & Learning
Somerset Councll (Yeovil Refr¢sh SLA)
Yeovil Town Council SLA
Somerset Q)uncil ((ktagon Theatre)
TOTAL GRANTS
NB.. "R" In ihe ihlrdcolumn denotes reslrlctedfvthng
In addition Grant Illl￿1ng ¢onflmLed and due In 20W25 is &8 follows:
The National Lotte
Heritage Fund (Final payment)
Yeovil Town Council SLA (£50001year for 2023-24)
Yeovil Refresh Consultation via Love Yeovll
TOTAL CRANTS
9.640
5,000
18,000
37,640

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMEwfs FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHARITY NO: 1189660
Independent Examlnerfs Report to the members of Yeovll Art Space
I report on the accounts of the charlty for the year ended 31 March 2024, whlch are set
out on pages l and 2.
Respectlve responslbllttles of members and examlner
The charlvs trustees are responslble for the preparatlon of the accounts. The charlty's
trustees conslder that an audlt Is not requlred for thls year (under sectlon 1441 of the
Charltles Act 20111 and that an Independent examlnat5on Is requlred.
It Is our responslbSllty to:
examlne the accounts lunder sectlon 145llllal of the 2011 Act);
to follow the procedures lald down In the General Dlrectlons 8lven by the Charlty
Commls51oners (under sectlon 1451Sllb)l of the 2011 Act); and
to state whether partlcular matters have come to our attentlon.
Basls of Independent examIne￿$ report
My examlnatlon was carrled out In accordance wlth the General Dlrectlons glven by the
Charlty Commlssloners. An examlnatlon Includes a revlew of the accountlng records
kept by the charlty and a cornparlson of the accounts presented wlth those records. It
also Includes conslderatlon of any unusual Items or dlsclosures In the accounts, and
seeklng explanatlons from you as trustees concernln8 any such matter5. The procedures
undertaken do not provlde all the evldence that would be required In an audlL and
consequently we do not express an audlt oplnlon on the vlew glven by the accounts.
Contlnued
io

REPORT OF THE TRUSTEES AND UNAUDrrED F￿ANCIAL STATEMENTS FOR
THE YEAR ENDED 31 MARCH 2024 FOR YEOVIL ART SPACE
REGISTERED CHAIUTY NO: 1189660
Independent Examlnerfs Report to the members of Yeovll Art Space
- contlnued
Independent examlnerfs ststement
In connection with my erdmination, no matter has come to my attention:
111 which gives us reasonable cause to believe that In ary material respect the
requirements
to keep accountln8 records in accordance with section 130 of the 2011 Act;
and
to prepare accounts which accord wlth the accountlng records and comply
with the accountlng requirement5 of the 2011 Act
have not been met. or
121 to whlch, in our oplnlon, attention should be drawn In order to enable a proper
understanding of the accounts to be reached.
I have come across no other matters in connectlon wlth the examinatlon to which
attention should be drawn In thls report In order to enable a proper understsnding of
the accounts.
C Dunn FCCA
Newton Magnus
Chartered Certified Accountants
Arrowsmlth Court
Statlon Approach
Broadstone
Dorset BH18 8AT
Date:
C/- IL- Qoly
li