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2021-03-31-accounts

Action Space London Events Limited

Report and Financial Statements Year Ended 31st March 2021 Company Number: 01816088 Charity Number: 289618

Frank S Lachman 16b North End Road Golders Green London NW11 7PH

Action Space London Events Limited Company Limited by Guarantee Year ended 31st March 2021

Page
Directors' and Trustees' Report
Reference and Administrative Information 1
Chair�s Report 2
Independent Examiner�s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Notes to the Financial Statements 15 - 20

Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

The trustees, who are also directors for the purposes of the Companies Act, have pleasure in presenting their report and the financial statements of charity for the year ending 31st March 2021.

Reference and administrative details

Charity Number: 289618 Company Number: 01816088 Principal Office: Cockpit Arts, Cockpit Yard, Northington Street, London WC1N 2NP Bankers: Coutts & Co, 440 Strand, London WC2R 0QS Examiner: Frank Lachman 16B North End Road,London,NW11 7PH Directors and Trustees

The Board of Trustees at 31[st] March 2021 were :

John Tizard Chair Helen Renwick Thompson Hall Kate Squires Simon Bottery Appointed 1st December 2020 Fleur Donnelly-Jackson Appointed 1st December 2020 Beth Elliott Appointed 1st December 2020 Anthony Spira Appointed 1st December 2020 Aviv Yaron Appointed 17th June 2020

Directors resigning during the year were:

Karen Noakes Resigned 1st December 2020 Marc Steene Resigned 1st December 2020 Antoinette O'Loughlin Resigned 13th May 2020

No directors received any emoluments for so acting during the year.

Patron: The Baroness Lola Young of Hornsey Company Secretary: Vicky Tweedie Joint Chief Executives: Barbara van Heel Sheryll Catto

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

Ac����S�ace Cha���� �e����

This has been a year like no other any of us has experienced. The Covid-19 pandemic has affected every aspect of social, economic, and artistic life. ActionSpace, our artists, our staff and our partners have all had to adjust to living, working and creating in a very challenging period.

As soon as the first lockdown occurred in early 2020 ActionSpace moved to new ways of operating. The studios and outreach programmes had to be suspended. New ways of supporting artists and facilitating their creative activities were quickly put in place. These included on-line programmes and even support via the telephone, but these were never going to be as effective as in person studio sessions. When it was possible to re-open the studios in a Covidcompliant way many artists were able to return but often for limited periods, and for some this was not a practical option. Support was continued in a blended manner for our artists. I am proud of how ActionSpace responded to the pandemic and how our staff have continued to provide support, facilitation and contact with so many of the artists.

A very big thank you is due to the ActionSpace staff team – all of them. And a special thanks are due to Barbara van Heel and Sheryll Cato, our joint-directors for their leadership

Against the backdrop of and constraints arising from Covid-19, and the challenges it imposed on ActionSpace, Barbara, Sheryll and the team continued to raise funding, to develop our strategy and plans and to build partnerships with other arts organisations. There have been exhibitions, events and talks on-line and sometimes in person throughout the year.

During the year we have reviewed and revised our governance to ensure that it is fit for purpose and contributes to the development and success of the charity. As part of this process we have seen some changes on the Board. Karen Noakes, Antoinette O�Loughlin and Marc Steene retired from the Board. We are very appreciative of their contribution, sage advice and comradeship. We also recruited and welcomed some new trustees. Individually and between these new colleagues bring a depth of experience and expertise that will be of enormous value to the charity. Thank you to all my fellow trustees for your commitment, energy and contribution to the charity.

In January we had some very sad news when we learnt of the untimely death of Angus Anderson. Angus was an ActionSpace trustee for 16 years and Chair for 10 years. He was my predecessor and I learnt much from Angus. We plan to acknowledge Angus�s contribution and passion for ActionSpace – details to be announced.

In 2020/21 we demonstrated our resilience and put our values into practice. Looking to 2021/22 and beyond we are developing some new strategies and plans that will enable us to fulfil our mission and increase our impact.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

Ac����S�ace �� L��d���� �ead��g a�d ���ge�� ������g ����a� a��� ��ga���a����� f�� learning disabled artists.

Our vision is for learning disabled artists to be at the heart of the visual arts sector.

Our mission is to support learning disabled artists to have a professional career in the arts, and in doing so, challenge preconceptions and inequality of opportunity faced by learning disabled artists.

Our values are to be:

Our Ambition is to be the “gold standard� for professional development for

visual artists with learning disabilities, influence provision and practice within contemporary art organisations, and be a pivotal CV point for our Studio

Artists. We aim to be a respected and acknowledged sector leader with a national and international reputation for talent development and exemplary inclusive creative cultural practice.

Objectives and Activities

To achieve our mission, we have three strategic objectives:

ActionSpace is a development agency for artists with learning disabilities supporting, advocating and promoting diversity within the contemporary visual arts sector.

ActionSpace�s outreach programme ensures Londoners with learning disabilities are able to engage with the visual arts through a range of young people projects, sensory art projects specifically for people with PMLD and our innovative participatory arts programme, which is delivered by learning disabled artists for learning disabled people.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

Public benefit that is provided by the charity

The trustees have paid due regard to the Charity�s mission and articles, and the guidance issued by the Charity Commission in deciding what activities the charity should undertake. The nature of our participatory and development programmes means that the benefits enjoyed by artists and participants with learning disabilities are both tangible and easily identifiable and clearly in line with our stated aims. ActionSpace�s projects are intended for learning disabled people within the London area. In practise, it is the amount of income raised that is the only restriction to the number of beneficiaries the charity can reach.

Beneficiaries and the implications of Covid-19

During the financial year 2020/21 we worked with 65 learning disabled artists through our blended programme, which we developed in response to the various lockdowns as we closed our physical studio spaces from 19[th] March 2020.

Normally we work with about 100 people per year and at least 500 people would be visiting our participatory arts events and workshops but unfortunately we were not able to run any of our outreach projects and events during the year. However we were able to experiment running some digital interactive workshops as part of our participatory arts programme, Making it Live. They were very successful and we will be developing them further during the financial year 2021/22.

One of our key strengths is that we work with people across the entire spectrum of learning disability from mild to profound. We have a particular expertise in working with people with complex, high support needs. A large percentage are non-verbal, have additional physical and sensory disabilities and mental health issues. Many have challenging behaviour and have been excluded from projects run by other organisations. We adopt an inclusive approach, working with the individual�s support team to finding solutions to any issues that may arise.

Beneficiaries are ages between 16 – 80 and almost 50% are from Black, minority and ethnic communities. Many are subject to multiple disadvantages, including isolation and economic hardship and can be highly vulnerable. We work with people across greater London.

Due to the support from our very generous funders, in particular City Bridge Trust, Big Lottery, the London Community Response Fund and the Arts Council England -Culture Recovery Fund, we were able to adapt ActionSpace�s programme to ensure we reached as many of our learning disabled artists as possible, whilst our physical spaces were closed. As the majority of our artists have high support needs and are particularly vulnerable to becoming isolated, it was imperative to adapt our programmes to ensure we reached as many as possible.

We changed our usual programme to a more bespoke one, catering for all with a mixture of online zoom classes, sending art materials, buying and sending I-pads and ordinary postcards. For those who could not stay at home, we were able to offer them 1-to-1 sessions in the studio.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

Once we were able to start using our studios again, we made our studios as Covid safe as possible, by investing in Perspex sheeting between workstations, protective clothing, deep cleaning sessions and reorganising the groups to make them much smaller. We reduced the number of people using the studio within one session from 10 to 4. Many staff hours went into rescheduling the groups.

Achievement and performance

Summary of the main achievements and the implications of Covid-19 control measures.

ActionSpace supports the development of artistic talent and encourages the creation of high quality artwork. We mainly do this through our core programme of weekly supported Studio Projects. The Studio Project programme was piloted by ActionSpace in 2001 and continues to expand and grow from strength to strength.

The supported Studio Projects are run by our team of highly experienced specialist artist facilitators, who work with the artists on a 1 to 1 basis to create and implement bespoke creative development plans. The long-term and consistent nature of our studio projects creates an environment where ActionSpace artists feel comfortable, safe and confident.

The relationship between ActionSpace�s artists and our Artist Facilitators is the essence of what makes ActionSpace�s work so effective. The Artist Facilitator works with each artist on an one-to-one basis and helps them to realise their potential by

Pre-Covid we ran the supported studio sessions from our 3 studios in London, South West, Central and North West London. Due to Covid-19 control measures, we closed our studios for most of the year. Even though our physical studios were closed, we were still able to work with at least 85% of our artists. This is testament to the hard work of the Artist Facilitators and their relationship with the artists.

There were many challenges to get tot the point where we were working with at least 85% of our artists.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

The staff team managed to raise extra funds that enabled us to purchase tablets to be loaned to some of the artists who did not have adequate technology, employing additional facilitators and make our phyical spaces as Covid compliant as possible. At the beginning of April/May 2020 the zoom sessions were quiet with the artist facilitators spending most of their time reminding people of the sessions. At times, the staff weren�t sure if the digital componenent of the programme was going to work. Setting up the weekly zoom sessions took a lot of time and persistance of the artist facilitators as well as the staff team. However by being flexible, persistant, and resourceful the staff succeded, with 85% of our artists attending the weekly sessions after a few months.

Ultimately, all of this has made our organisation stronger, our relationships with the artist�s families better. And most importantly in a time when no one could be together, we created a community.

Individual Practise Development

Individual practise development and support has always been and will continue to be a key feature of the Studio Project programme. Even though the supported Studio sessions were mostly held online, the artist facilitators were still able to coach and mentor the artists to create amazing work, which meant that despite the year we have had, a few of the ActionSpace artists achieved some notable successes.

A�d�e� O��d��g�� sculpture “ Lad� i� la�ing do�n, i� �ela�ing befo�e going back �la� �enni�� was one of 40 artworks selected from 566 applications from across the UK for Barbican Arts Group Trust�s Artworks Open Exhibition. Andrew was one of the 5 overall Award Winners selected by judges Alex Shady, Programme Director, Art Programme at Central Saint Martins, and Michelle Williams Gamaker, moving image and performance artist and Lecturer in BA Fine Art at Goldsmiths College. Andrew has been offered a 6-week residency at BAGT, which will take place during the year 2021/22.

Thomas Owen was commissioned by Bouceback Foods, a community cookery project in Manchester, to create an illustration for their Secret Dishes from Around the World. The book will be launched in mid-June 21.

K�aga S�����g��� colourful large scale painting � Ci�cle�� has been selected from 1,000 applications for the inaugural Artworks Together, “a new international arts exhibition offering people with Learning Disabilities and Autism the opportunity to showcase their artistic talents to the world.� Judges include the artists Rachel Gadsden, Tony Heaton and Alison Lapper, James Lingwood and Michael Morris, Co-Directors of Artangel, and Helen Pheby, Head of Curatorial Programme at Yorkshire Sculpture Park. The overall winners will have their work displayed in a physical exhibition at the Wentworth Woodhouse in Yorkshire, which will open on Saturday 29th May 2021.

Patrick Moses and Claudia Williams had work selected for Six Speak, a digital exhibition curated by Jade French and run as part of the National Advocacy Conference

C�a�d�a W����a���� Crack Crack Crack was an on-line exhibition of her work created at home during lockdown 1 and over a series of 8 weekly 1:1 sessions with Charlotte Hollinshead in the South London Studio over July – October 2020.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

N�e�a Ka���� two large vortex drawings were shown as part of Jennifer Lauren Gallery�s on-line exhibition Evolving Echoing Entities , which included an audio description of the work. Evolving Echoing Entities and Art & Activism were listed in Frieze�s top 10 virtual shows.

Nnena Kalu was also shortlisted for the Mark Tanner Sculpture Award. Nnena was not chosen as the overall winner but as the organisation were so impressed with Nnena�s work, they have instigating a new one-off grant as another strand to the Mark Tanner Award and awarded it to Nnena Kalu to further her artistic practice. She has also been shortlisted for the LOEWE FOUNDATION / Studio Voltaire Award, which would provide her with a free studio at Studio Voltaire for two years.

Thompson Hall is continuing to have monthly mentoring session with Autograph Director Mark Sealey as part of their Transforming Leadership partnership project with Shape Arts. ActionSpace and Autograph are in the process of developing plans for a residency at Autograph in 2022/23.

Thompson Hall and Tony Allen had their artwork selected for Outside In�s on-line exhibition Art and Activism .

Ophir Yaron was selected to take part in a collaborative sketchbook project with the artist Tanya Raabe. Ophir will be working on an evolving digital sketchbook with Tanya via a series of Zoom sessions, which she will do at home.

Linda Bell has been co-commissioned with Charlotte Hollinshead, our Associate Artist to deliver a series of five workshops for the British Museum. Digital sessions will be run for during June as part of the Making it Live programme

In addition to the above described exhibition opportunities, ActionSpace has also been able to continue to support ActionSpace�s artist Evan Bond, who is employed by Camden Arts Centre as a workshop leader.

Evan Bond � s collaboration with his co-workshop leaders at Camden Arts Centre over lockdown 1 resulted a digital publication entitled “I can only dream of living things being made out of letters� which is available for download from the CAC website. They also created a series of digital workshops for the Centre�s SEN programme, which were run from September – November 2020. Evan has now been offered another year�s employment as a co-workshop leader.

Partnerships

ActionSpace works with partner organisations to achieve our goals so that we may share our vision widely and in a sustainable way. By working in partnership we share best practice, maximise budgets and we are able to serve a much larger and more diverse group of people. Last year, we worked in partnership with organisations as diverse as Studio Voltaire, Cockpit Arts, ACAVA, Outside In, Project Ability in Glasgow, Venture Arts in Manchester, Project Artworks in Hastings, and Camden Arts Centre. Working in partnership helps us to cultivate even more opportunities for ActionSpace�s artists.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

Structure, Governance and Management

Governing Document

Action Space London Events is a charitable company limited by guarantee, incorporated on 14th May 1984 and registered as a charity on 9th July 1984. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Governance and management

ActionSpace currently has nine trustees who provide a range of skills and experiences. The Board meets on a quarterly basis, and when needed, various working groups are convened of members of the Board to discuss specific topics such as finances, policies, human resources and business planning.

In accordance with good governance and to facilitate effective operations, the Trustees have delegated the running of the company to the two joint Chief Executives.

The Board is responsible for

The two part-time Chief Executives are collectively responsible for the running of the organisation and ensuring its long-term sustainability. The tasks are divided between them and grouped: one taking the lead in fundraising and financial management; the other taking the lead in programme development and delivery and marketing. They receive the support from a small team of full and part-time staff.

The CEOs are performance managed on behalf of the Board by the Chair.

Recruitment and Appointment of the Board of Directors

The Directors of ActionSpace are also Charity Trustees for the purposes of charity law and under the company�s Articles are known as Members of the Company. Every year at the Annual General Meeting one third of the Directors shall retire from office. A retiring director shall be eligible for re-election.

The Directors seek to ensure that the needs of the group are appropriately reflected through the diversity of the trustee body. ~~S~~ trategic, business, management and marketing skills are well represented on the Board of Directors. The Board continuously appraises its and trustees� including the Chair�s performance, and reviews and refreshes membership to ensure an appropriate balance of expertise and experience.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

As ActionSpace was reaching a crucial point within it�s development where decisions needed to be made in preparation of the new five-year business plan, the company decided to make the most of the slightly reduced programme last year by working with consultant Amanda King to refresh and develop the Board of Trustees.

This resulted in the recruitment of 4 new Trustees.

They have joined the five existing Trustees:-

Risk Management

ActionSpace reviews the risks to which the charity is exposed on a rolling basis. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Directors.

Reserves policy

The Directors and Board reviews financial performance quarterly to ensure that it is alligned with our strategy and mission and is sustainable. These measures mean we are financially robust and prepared for any potential future challenges identified in the risk registrer.

To support the stability of the company we have three designated reserve funds.

Running cost of roughly 4 months

This fund is to be used in case we would have to wind down the company. We would want to do this in a way that would support our main stakeholders, learning disabled people and their families, and give them time to adjust. The target for this fund, in line with our policy of 4 months running cost, is £103,044. At the end of March 2021 this fund stands at exactly £103,044 after a transfer from the Studio Relocation Fund of £12,031 to the 4 months running fund.

Studio Relocation Fund

The aim of this fund is to reserve money to relocate our studio from our Studio Voltaire base to temporary studios, back to the new, completely renovated Studio Voltaire building. We moved back into Studio Voltaire during June 2021. As we have done the majority of tasks we set out to do with this fund, we have decreased it by transferring £12,031 to the 4 months running cost and £10,000 to our HR Contingency Fund. At the end of March 2021 this fund stands at £17,083.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

HR Contingency Fund

This fund is to support any staffing changes and providing contingency for long-term cover, such as maternity cover, long-term illness, etc. As our staff base is growing, we feel it�s prudent to increase this fund by £10,000. At the end of March 2021, this fund stands at £24,349.

The Directors and Board continuously review financial performance to ensure that it is aligned with our strategy and mission and is sustainable. These actions mean we are well placed to ride the challenges in the coming few years.

Plans for the Future

The Board regularly reviews our strategic plan, which is designed to enable ActionSpace to continue and to expand as a sustainable arts organisation. We will continue to develop remote activities and will explore new ways to make and share original art and merchandise. We are in a strong financial position from which to launch our planned developments in line with this strategy.

However the year ahead will bring uncertainty, as the world will still be grappling with the coronavirus pandemic and its consequences. The funding environment will become increasingly competitive. Having said that, we remain optimistic that our track record in giving learning disabled artists the support and confidence in a holistic way, will attract the support needed to move forward through this challenging time.

Going Concern

The Trustees are of the opinion that a going concern basis is appropriate of the preparation of these accounts.

The Trustees are also of the opinion that the charity can operate for a period of at least 12 months from the date of this report.

Financial Review

Financial Position and Available Funds

In financial year ending 31 March 2021, ActionSpace has once again continued its track record for stability as the result of strong and prudent financial management in the face of continued pressure on public expenditure.

Principal Funding Sources

We would like to thank all our funders and donors. Every pound raised has a big impact on the people we work with. We will continue to progress a diverse portfolio of funding of which roughly half of the income is unrestricted.

The securing of one off funds from the Culture Recovery Fund, the London Community Response Fund, City Bridge Trust and the Big Lottery alongside the support of multi-year funding from the Paul Hamlyn Foundation, London Borough of Wandsworth, City Bridge Trust and Big Lottery, Reaching Communities as well as our Arts Council NPO funding, enhances the company�s longer term sustainability through what is likely to be a challenging period.

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Action Space London Events Limited Company Limited by Guarantee Trustees Annual Report Year ended 31st March 2021

ActionSpace could not have gone through this year without the support of our funders. We are very appreciative of the generous donations but also the relaxing of reporting requirements and the supportive phone-calls. We truly feel the sector came together to support one another and we were therefore able to support our beneficiaries, learning disabled artists and their families, to the best of our ability.

The directors are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with company law, as the company's directors we certify that:

As far as the directors are aware at the time the report is approved

Members of the Board of Directors

Members of the Board of Directors, who are directors for the purposes of company law and trustees for the purposes of charity law, who served during the year and up to the date of this report are set out on page 1.

Independent Examiner

A resolution will be proposed at the Annual General Meeting that Frank Lachman be re-appointed as Independent Examiner to the charity for the year 2022.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Approval

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities and in accordance with the special provisions relating to companies subject to the small companies regime within part 15 of the Companies Act 2006.

Approved by the Board of Directors on 7th October 2021 and signed on their behalf by:

John Tizard, Director and Trustee

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Action Space London Events Limited Company Limited by Guarantee Year ended 31st March 2021

Independent Examiner's Report on the Accounts

On accounts for the year ended 31st March 2021 set out on pages 13 to 20.

Respective responsibilities of trustees and examiner

The charity's trustees consider that an audit is not required for this year under the Charities Act 2011 (the Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination being a qualified member of the Institute of Chartered Accountants In England and Wales.

It is my responsibility to:

Basis of independent examiner�s statement

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention to indicate that:

Frank S Lachman Chartered Accountant Independent Examiner 7�� Oc��b�� 2021

16b North End Road London NW11 7PH

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Action Space London Events Limited Company Limited by Guarantee Statement of Financial Activity (Including Income and Expenditure Account) For the Year Ended 31st March 2021

Unrestricted **Restricted ** Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2021 2020
Note
Income from
Donations and legacies 2 76,335 - 76,335 74,294 - 74,294
Bank interest 64 - 64 414 - 414
Charitable activities 3 126,652 190,566 317,218 171,060 109,416 280,476
_ _ _ _ _ _
Total income 203,051 190,566 393,617 245,768 109,416 355,184
_ _ _ _ _ _
Expenditure on
Charitable activity costs 5 203,113 106,021 309,134 278,238 92,827 371,065
_ _ _ _ _ _
Total expenditure 203,113 106,021 309,134 278,238 92,827 371,065
_ _ _ _ _ _
Net income/expenditure (62) 84,545 84,483 (32,470) 16,589 (15,881)
Reconciliation of funds
Total funds brought forward 144,540 43,787 188,327 177,010 27,198 204,208
Transfers - - - -
_ _ _ _ _ _
Total funds carried forward 10 144,478 128,332 272,810 144,540 43,787 188,327
_ _ _ _ _ _

The statement of Financial Activities includes all gains and losses recognised in the year

All income and expenditure derive from continuing activities.

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Action Space London Events Limited Company Limited by Guarantee Balance Sheet For the Year Ended 31st March 2021

Note
Fixed assets
Tangible Assets
7
Current assets
Debtors
8
Cash at bank and in hand
Total current assets
Current liabilities
Creditors - amounts falling due within one year
9
Net current assets
Net assets
The funds of the charity
Unrestricted
10
Restricted
10
Total charity funds		 20,835
303,954		 2021
2
272,808		 10,909
224,578		 2020
2
188,325
324,789 235,487
51,981 47,162
272,810 188,327
144,478
128,332		 144,540
43,787
272,810 188,327

(a) For the year ended 31 March 2021 the company was entitled to exemption under section 477(2) of the Companies Act 2006.

(b) No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

(c) The directors acknowledge their responsibility for:

i. ensuring the company keeps accounting records which comply with section 386; and

ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.

(d) The accounts have been prepared in accordance with the special provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime, and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

Approved by the directors on 7�� Oc��b�� 2021

and signed on their behalf by John Tizard - Director

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Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2021

1 Accounting Polices

(a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Action Space London Events Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

(b) Tangible Fixed Assets

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:

Art equipment - 60% Reducing balance basis
Office equipment - 60% Reducing balance basis

IT equipment costing less than £2,500 per item is charged to the Statement of Financial Activities in the year of purchase.

(c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants has been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

(d) Expenditure

All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. It is probable that settlement will be required and the amount of the obligation can be measured reliably.

Costs are allocated to a category either because such costs are directly incurred in relation to such category, or because they are support costs in respect of which an apportionment has been made between the categories.

(e) Taxation

The company as a registered charity ( number 289618 ) is exempt from taxation on most investment income insofar as it is applied for charitable purposes. The company is also exempt from taxation on capital gains.

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Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2021

(f) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(g) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2021

2 Donations and legacies

Grants for General Running Costs
Arts Council of England
Individual donations		 Unrestricted
Unrestricted
Funds
2021
Funds
2020
75,043
75,043
73,416
73,416
1,292
1,292
878
878
76,335
76,335
74,294
74,294

3 Income from charitable activities

**3 ** Income from charitable activities
**Restricted ** Unrestricted **Restricted ** Unrestricted
Funds Funds 2021 Funds Funds 2020
Grants , donations and contracts
Arts Council England 15,000 - 15,000 15,000 - 15,000
Individual Artist Grant (Arts Council England) 1,336 1,336 - - -
Cultural Recovery Fund (Arts Council England) 47,291 - 47,291 - - -
London Borough of Wandsworth - 21,400 21,400 - 21,400 21,400
City Bridge Trust 52,000 - 52,000 40,282 - 40,282
Shape Arts 2,000 - 2,000 - - -
Metroland Cultures/Culture Fund Brent 2020 2,000 - 2,000 7,969 - 7,969
Artsquest - 500 500 - - -
London Funders - 9,785 9,785 - - -
The Paul Hamlyn Foundation 38,000 - 38,000 - - -
Big Lottery
- Reaching Communities 44,775 - 44,775 44,625 - 44,625
The Arts Society - - - - 2,930 2,930
St Andrew Holborn Charity - - - - 15,000 15,000
Garfield Weston Foundation - - - 20,000 - 20,000
Deferred Grants brought Forward 20,000 - 20,000 - 3,500 3,500
Deferred Grants carried Forward (30,500) - (20,000) (20,000) - (20,000)
_ _ _ _ _ _
190,566 33,021 234,087 107,876 42,830 150,706
Fees, commissions, hires & misc income - 75,499 75,499 1,540 128,230 129,770
Corona Job Retention Scheme - 18,132 18,132 - - -
_ _ _ _ _ _
190,566 126,652 327,718 109,416 171,060 280,476
_ _ _ _ _ _
**4 ** Net incoming Resources
Net outgoing resources are stated after
charging: 2021 2020
Examiner's fee 1,400 1,400
______ ______

Page 17

Notes to The Financial Statements For the Year Ended 31st March 2021

Action Space London Events Limited Company Limited by Guarantee

5 Charitable activity costs

Staff costs
Production costs
Office running costs
Accountancy
Independent Examiner fee
Rent and services
Sundry expenditure
Total 2021
Comparatives 2020
Staff costs
Production costs
Office running costs
Accountancy
Independent Examiner fee
Rent and services
Sundry expenditure
Total 2020
6
Employees
Wages, salaries and fees
National Insurance costs
Pension costs		 Charitable
Activity
Costs
Charitable
Activity
Costs
Governance
Costs
Total 2021
Restricted
Unrestricted
Unrestricted
29,486
156,627
-
186,113
67,899
32,741
-
100,640
2,496
4,513
852
7,861
-
2,622
-
2,622
-
-
1,400
1,400
6,140
4,358
-
10,498
-
-
-
-
106,021
200,861
2,252
309,134
Total 2020
40,618
147,657
-
188,275
47,052
108,805
-
155,857
1,157
7,275
981
9,413
-
2,550
-
2,550
-
-
1,400
1,400
4,000
8,860
-
12,860
-
710
-
710
92,827
275,857
2,381
371,065
2021
2020
169,849
167,612
12,434
16,602
3,830
4,061
_
_
186,113
188,275
_
_

The average weekly number of employees during the year, calculated on the basis of full time equivalents was 5.5 (2020:5.5)

No employee earned more than £60,000 during the year (2020 Nil) .

Page 18

Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2021

7 Tangible Fixed Assets

Cost
At 31st March 2020
Disposals
Additions
At 31st March 2021
Depreciation
At 31st March 2020
Disposals
Charge for the year
At 31st March 2021
Net Book Values
At 31st March 2021
At 31st March 2020
8
Debtors
Trade debtors
Prepayments and accrued income
Other debtors
9
Creditors - Amounts falling due
within one year
Trade creditors
National Insurance and other Taxation
Accruals and other creditors
Deferred Grants		 Office
equipment
11,644
-
-		 Art equipment
Total
4,247
15,891
-
-
-
-
11,644 4,247
15,891
11,643
-
-		 4,246
15,889
-
-
-
-
11,643 4,246
15,889
1 1
2
1 1
2
2021
2020
20,211
9,013
-
1,463
624
433
20,835
10,909
2021
2020
8,871
8,692
773
8,250
11,837
10,220
30,500
20,000
51,981
47,162

Page 19

Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2021

10 Reconciliation of Movement in Funds

Restricted Funds
- Income
Unrestricted Funds
- General
- Designated		 Balance at
31 March
2020
Income
Expenditure
Transfers
Balance at 31
March 2021
43,787
190,566
106,021
-
128,332
2
-
-
2
144,538
203,051
203,113
144,476
188,327
393,617
309,134
-
272,810

General Fund: are moneys which can be used by the Trustees at their discretion for any purpose and which have not been designated by them previously

The above funds comprise:
Running costs for 4 months
Studio Relocation Fund
HR Contingency Fund
Beyond Studio Programme
Expansion Programme
ACE Culture Recovery Fund
Make it Live, additional delivery		 31st March
2021
March
2020
31st March
2021
March
2020
103,044
91,013
-
-
17,083
39,176
-
-
24,349
14,349
-
-
-
-
40,439
22,990
-
-
46,845
20,797
-
-
22,061
-
-
-
18,987
-
Designated
Unrestricted Reserve
Restricted Funds
144,476
144,538
128,332
43,787

11 Analysis of Net Assets between Funds

Restricted Funds
Unrestricted Funds:
Designated
General		 Tangible
Fixed
Assets
Net Current
Assets
Total 2021 Total 2020
-
128,332
128,332
43,787
-
144,476
144,476
144,538
2
-
2
2
2
272,808
272,810
188,327

12 Third Party Grants

The following grant was received and spent on behalf of the artist named below:

Nnena Kalu: £1,336 from Arts Council England National Lottery Project grant

13 Trustees

During the year, none of the trustees received any remuneration from the trust and no expenses were reimbursed to any of them.

Page 20