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2024-03-31-accounts

ACTIONSPACE LONDON EVENTS LTD

TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

ActionSpace’s Studio at Studio Voltaire in Clapham

Artist Kwaga Sillingi in the ActionSpace studio at Studio Voltaire

Charity Registration Number: 289618 Company Registration Number: 1816088

Frank S Lachman 31 Fairview Way Edgware Middlesex, HA8 8JE

ActionSpace London Events Ltd Company Limited by Guarantee Trustee’s Annual Report Year Ended 31[st] March 2024

CONTENTS

Pages
Director’s and Trustee’s Report
Reference and Administrative Information 1
Chair’s Report 2
Director’s Report 3
Independent Examiner’s Report 15
Statement on Financial Activity 16
Balance Sheet 17
Notes to the Financial Statement 18

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

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 2024.

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 31 Fairview Way, Edgware, Middlesex HA8 8JE

Directors and Trustees

The Board of Trustees at 31st March 2024 were:

John Tizard Chair Fleur Donnelly-Jackson Beth Elliott Thompson Hall Anthony Spira Kate Squires (reappointed 28/05/2024) Simon Chadwick (appointed 28/05/2024) Linsey Young (appointed 28/05/2024)

Directors resigning during the year were:

Simon Bottery (resigned 23/07/2024) Helen Renwick (resigned 01/09/2023) Kate Squires (resigned 24/10/2023)

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

Patron: The Baroness Lola Young of Hornsey

Company Secretary: Dan Lamont

Artistic Director and Chief Executive: Sheryll Catto

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Chair’s Report

Looking back over the past year at ActionSpace is always a positive activity. Even reading about what has been achieved in this period can be exhausting, but it is also very exciting.

ActionSpace has continued to develop and grow its reach and impact whilst fulfilling is mission to support learning disabled artists. We are proud of our values and our mission. These underpin everything we do. This has been very much the case in the year which this report addresses.

There have been many highlights over this twelve-month period and these are described in this report. For me the ones that stand out most include:

Our long-standing Co-Director Barbara van Heel left the organisation at the end of August 2023. Barbara’s contribution over the past 20 years saw ActionSpace come of age and grow into the successful arts organisation that it is today and helped to assure our future sustainability. We thank Barbara, whilst also congratulating Sheryll Catto, Barbara’s CoDirector for the last 15 years, who moved into a new role as Artistic Director and Chief Executive from September 2023. We owe a huge thank you to Sheryll and to Dan Lamont our Business Director, who joined in May 2023, our staff and volunteers, my fellow trustees and, most importantly of all, our ActionSpace artists.

We would like to say thank you to our funders Arts Council England, Paul Hamlyn Foundation, John Lyons Charity, Henry Smith Charity, St Andrew’s Holborn, London Borough of Wandsworth, London Borough of Lambeth’s Elevate Careers Fund and UCL’s Knowledge Exchange Fund. Also, to our partners Studio Voltaire, Cockpit Bloomsbury, ASC Studios, Camden Art Centre, British Museum, and CVAN London.

After nine years as Chair and over twelve years as a Trustee, this will be my last annual Chair’s report as I am stepping aside to allow the Board to appoint a new Chair to steer ActionSpace on its journey of innovation, impact and creative excitement. It has been a privilege to have been Chair and I plan to continue to support ActionSpace. It is too exciting and offers too much fun and artistic pleasure for me to wish to step away never to visit, support and promote the wonderful ActionSpace.

John Tizard. Chair, ActionSpace

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Director’s Report

Our Charitable Activities

ActionSpace is a small but highly respected, impactful and influential charity that punches well-above above its weight. The breadth of our work across our supported studios, ambitious participatory arts projects and fostering talent enables us to offer a unique set of creative opportunities and progression routes for learning disabled artists. We are close to the needs and challenges faced by learning disabled artists and through our projects and partnerships with nationally important cultural institutions and by sharing best practice and supporting innovation and critical debate, we provide essential thought leadership to the arts and cultural sector.

ActionSpace’s Studio at Studio Voltaire in Clapham

Our Approach

We work with learning disabled artists across three distinct but mutually supporting strands of activity.

  1. Supported Studios : our flagship studio projects run across our 3 dedicated studios in London, Cockpit Bloomsbury, Studio Voltaire Clapham and ASC’s Ealing Road Studios in Brent, providing a professional studio environment to enable learning disabled artists to work alongside their peers on a weekly basis. Artists are supported by experienced Artist Facilitators to extend and develop their creative practice and their attendance is underpinned by extensive pastoral care. We provide supported studio time for 60-70

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

learning disabled artists each year, creating and implementing individual development plans for each.

  1. Artist Development Agency : we provide dedicated support for particularly talented individual learning-disabled artists, including targeted professional/practice development, profile building, brokering access to projects or open submission exhibitions, and providing access to the commercial art market through sales of work or access to paid employment or special commissions. We provide learning disabled artists access to the same opportunities and experiences available to their peers.

  2. Creative Hub : we create opportunities for learning disabled young people and adults to participate in innovative and stimulating creative activities by delivering an ambitious programme of participatory and live art events, bespoke workshops and fixed term projects across London. We work with an estimated 1,000 learning disabled participants per year. They are able to discover an interest in and talent for the visual arts and we can talent spot for future Studio Artists. This key strand of our work includes supporting progression routes from school to studio and events run by our Make it Live collective. It is distinguished from other similar offers by being co-led by peer ActionSpace artists, providing paid employment for learning disabled artists and role models for learningdisabled participants, modelling examples of what success in the visual arts can look like.

Achievements and Performance in the 2023/24 Financial Year

Supported Studios

Our supported studios are the cornerstone of our work. Over the year from 1 April 2023 – 31 March 2024, we delivered 1,978 hours of supported studio time for some 68 learning disabled artists.

Our long-running weekly support studio projects at Cockpit Bloomsbury in Central London and Studio Voltaire in South London continue to grow from strength to strength. The Studio Voltaire Emerging Artists Studio Project, launched in September 2022, is now supporting 6 immensely talented young people as they set out on the journey towards becoming professional artists.

Artist Robin Smith at the ActionSpace studio at Studio Voltaire

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

‘ My sister has been an artist with ActionSpace for more than ten years. ActionSpace has been her lifeline to thrive and a wonderful platform for her to develop her artwork. ActionSpace is a great organisation doing hugely valuable work ’.

Sister of an Artist based at Studio Voltaire.

Over the 2023 Spring Break, our Brent studio moved from ACAVA Studios in Wembley to ASC Studios in Alperton. Joining ASC’s active artistic community provided opportunities for ActionSpace to establish itself as a key part of the Brent cultural ecology. We were invited to join an event hosted by the Mayor of London on 13 July 2023, when Ealing Road and Alperton were announced as London’s newest Creative Enterprise Zone.

Exhibitions & Events

We make a commitment to all of our artists that they will each have at least one opportunity a year to show their work in a public setting. During the 2023/24 financial year ActionSpace organised three group exhibitions:

Abundance at V.O. Curations was a highlight of our 2023/24 exhibitions programme. It was the third and final iteration of our partnership touring exhibition, launched at Project Ability in Glasgow in October 2022 and reimagined by Venture Arts at Longsight Art Space in Manchester in March 2023, part of the Explorers II project lead by Project Ability and funded by Arts Council England and the Paul Hamlyn Foundation. The London showing was curated by Louis Caseley and included work by artists, Erin Keogh (Project Ability), Kathy Wilmott (Venture Arts) and ActionSpace’s Chandrakant Patel.

Artist Chandrakant Patel at the opening of Abundance at V.O Curations

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Artistic Development Agency

We are supporting and managing the careers of a growing group of learning disabled artists, who are achieving recognition within the visual arts sector.

Installation view, Nnena Kalu , Arcadia Missa, London. Courtesy the Artist, ActionSpace and Arcadia Missa, London. Photo credit: Tom Carter

Nnena Kalu (https://actionspace.org/artists/nnena-kalu/)

2023/24 has been a stand-out year for our exceptionally talented artist Nnena Kalu, who has been supported by ActionSpace at the South London studio for over 25 years:

“Hiding cocoons within but brandishing all kinds of colour and pattern without, Kalu’s sculptures excite and entrance with their embodied craft, as well as their crafting of space, so much so that the final result is a bold beating heart of a show.”

by Hannah Hutchings-Georgiou, Wallpaper*, June 2024

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Schools workshop led by Andrew Omoding, Tate Modern 2024, courtesy of Tate. Photo credit: Oliver Cowling.

‘By working with Andrew Omoding my students had the opportunity to see an adult with additional needs delivering and leading a workshop as a professional artist. This meant so much to me as an arts educator. I want my students to have opportunities as creators and audiences of the arts.’

School Teacher

Thompson Hall is an experienced ActionSpace artist and a trustee of the charity. His work is primarily large scale acrylic paintings and pastel drawings. Through his work he explores everyday experiences and the situations he finds himself in, creating flat and patterned compositions.

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Artist Thompson Hall. With images of two works featured in his monograph Colour is My Signature.

‘ Over the last year or so I have had the privilege of getting to know Thompson Hall and share thoughts with him. This has been a journey through both words and images. His work in our time is pressing and urgent… .’

Marc Sealy OBE, Director, Autograph

Babajide Brian (https://actionspace.org/artists/babajide-brian/)

ActionSpace has been supporting Babajide Brian for 6 years. Babajide is part of the Studio Voltaire Emerging Artist group. Babajide primarily works with drawing. Using pencil, mechanical pencil, and fine liners on paper he works directly from life, photographic imagery and memory. His recent body of work, that features over 100 drawings, centres around both portraits and shirt designs based on the FA Premier League.

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Artist Babajide Brian in his studio at Studio Voltaire with his work in the background.

“ Ever since I joined ActionSpace six years ago the journey that I have been on has been nothing short of wonderful. They have been as amazing with me as I have with them. This latest personal milestone is quite something, a unique and exciting chapter in my artistic career which stretches back two decades. I have experienced, participated, and revelled in every single moment that has to do with art. I’m hoping this award will further strengthen my development as an artist and also inspire me to come up with future ideas for my work.”

Babajide Brian

Creative Hub

The core of the Creative Hub is the Participatory Art Programme which includes large and small-scale events, workshops and collaborations. This strand is distinguished from other similar offers by being co-led by peer ActionSpace artists, providing learning-disabled participants with role models and examples of what success in the visual arts can look like. This programme has been developed with the support of Paul Hamlyn Foundation to include online and in person activity and is delivered through partnership with cultural and learning disability organisations.

A significant outcome of the project has been the development of Make It Live , ActionSpace’s innovative participatory arts collective that breaks new ground in the field of digital, participatory and live art. Make it Live is comprised of 5 artists based at our South London Studio: Linda Bell, Pardip Kapil, Chandrakant Patel, Robin Smith and Claudia Williams. During 2023/24 Make it Live delivered 14 workshops, participatory and live art events, providing opportunities for 302 learning disabled people to take part in creative activities, including:

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

The Make it Live collective will continue to grow and develop and has been commissioned to deliver a programme of events for Wandsworth: London Borough of Culture 2025.

2023/24 saw the publication of New Ground: A report on ActionSpace’s Participatory Art Programme , a major evaluation report commissioned by ActionSpace and written by Elizabeth Lynch MBE that draws together insights and reflections over the three years of the Paul Hamlyn Foundation funded programme. It considered the personal and creative development of the ActionSpace artists who developed skills through the project, as well as the experiences of participants, support staff and audiences. It also provided ActionSpace with a new evaluation structure and tools which will be rolled out during 2024/25.

‘The Participatory Art Programme has supported and enabled greater ambition for ActionSpace’s Studio Artists who lead workshops and events. For family, carers and learning disabled participants, it has challenged limiting perceptions of their capabilities and increased their social status. “

Elizabeth Lynch MBE New Ground: A report on ActionSpace’s Participatory Art Programme

Sector Leadership

In April 2023 ActionSpace was awarded funding through University College London’s Knowledge Exchange Fund to explore ways of involving more of our learning disabled artists in organisational decision-making. The Inclusive Governance Research Project was a partnership with multimedia artist Jack Tan and Dr Rafie Cecelia, Lecturer in Museum & Gallery Studies at Kings College London.

Phase One of what we see as a longer-term project resulted in the drafting of Terms and Conditions for an Arts Practice Sub-Committee to be constituted in ActionSpace’s Articles of

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Association. The Sub-Committee would meet on a quarterly basis in sync with Board meetings. Trustees would in rotation report back to the Board.

Phase 2 of the project (which we will fundraise for in 2024/25), will look at the structure for the quarterly meetings. The aim will be to explore the use of a range of non-traditional modes of knowledge exchange to enable communication in the Arts Practice Sub-Committee meetings.

‘My interest from the start has been to see what would happen if we aim for the high goal of including limited verbal artists as trustees, or somehow embedding them within your formal governance structure. The deep organisational listening and transformative communication needed would be ground breaking.’

Artist Jack Tan

Statement of Governance and Finances

Public Benefit 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 creative development and participatory programmes means that the benefits enjoyed by learning disabled artists and participants are both tangible and easily identifiable and clearly in line with our stated aims. ActionSpace's projects and other activities are intended for learning disabled people within the London area. In practice, it is the amount of income raised that is the only restriction to the number of beneficiaries the charity can reach.

Thanks for all the brilliant work you all at ActionSpace do!! Continues to be one of the finest LD resources in our city and we really value the fantastic support you give to our service users!”

Learning Disability Service Manager

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

The work of the charity is overseen by an experienced board of six trustees with experience across the UK arts and disability sectors, including in senior level research and policy development and individuals with lived experience of disability. The board is chaired by John Tizard RSA. The charity’s trustees as of 31 March 2024 included:

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

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. The Board is responsible for:

In accordance with good governance and to facilitate effective operations the Trustees have delegated the running of the company to the Chief Executive Officer, who responsible for the running of the organisation and ensuring its long-term sustainability. The CEO is performance managed on behalf of the Board by the Chair.

The CEO is supported by a Business Director, who is responsible for financial and risk management. There is a core team of 6 full and part-time staff and a team of freelance artist facilitators who deliver the programme.

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. Strategic, business, management and marketing skills are well represented on the Board of Directors. The Board continuously appraises the trustees and the Chair's performance, and reviews and refreshes membership to ensure an appropriate balance of expertise and experience.p

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.

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Reserves Policy

The Board continuously reviews the company's finances and reserves policy to ensure it is sustainable for years to come and can weather any financial challenges that may come its way.

In light of the current changing funding and financial climate and risks including inflation and general increases in expenses, the policy will be reviewed during 2024/25 to increase the designated reserve pot to cover approximately 5 months’ operating costs. This reserve forms a contingency to underpin the charity’s resilience and capacity to manage unforeseen financial difficulties, for example:

The total reserves at 31st March 2024 were £327,094 of which a proportion is represented by restricted assets. Restricted assets include £43,011 linked to restricted grants income, £22,661 in designated funds towards projects and £43,723 in designated Artist Development Agency funds. At year end, the level of reserves available for the charity’s use was £217,699 (2023/24 £240,271), including a general fund of £22,264 and a designated reserve of £195,435.

General reserves are currently broadly in line with the target identified in our reserves policy, though trustees will continue to review the policy as the Charity emerges from the impact of the pandemic, and with high levels of inflation.

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. The Board is confident that ActionSpace is in a good position to meet external challenges and to continue to grow and develop.

Future Plans

ActionSpace has established itself as a significant force for change in developing, supporting and promoting learning disabled artists and creating opportunities for learning disabled people to take part in cultural activities. Our Board of Trustees and Leadership Team have developed an ambitious Strategy and Business Plan to extend the breadth and impact of our work over the next four years (2024-25, 2025-26, 2026-27 and 2027-28). Priorities include:

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

Organisational Development & Fundraising

In June 2023 ActionSpace undertook a review of its business and operational model undertaken by external consultants Alchemy Partners.

In late 2023, ActionSpace engaged Neil Debnam, to work with the Artistic Director / CEO and Business Director and trustees to develop an updated Fundraising Strategy to further diversify of the charity’s income streams, focusing on incremental growth in income from private sources. The new 3-year Strategy which was signed-off by trustees in February 2024 seeks to build on and extend the charity’s strong relationships with Trust funders and Lottery Distributors, whilst implementing a plan to cultivate individual donors.

The charity’s ambitions are underpinned by a significant uplift in our core annual grant from Arts Council England (ACE) as part of its National Portfolio from £90,043 to £178,139 (in the context of reductions in funding for London-Based organisations) in recognition of the strategic need for our work and to consolidate and extend our work in Brent.

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 reappointed as Independent Examiner to the charity for the year 2025.

The financial statements comply with the Charities Act 2011, the Companies Act

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 and signed on their behalf by John Tizard. 29/10/24

John Tizard

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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ActionSpace London Events Ltd Company Limited by Guarantee Independent Examiner's Report on the Accounts Year Ended 31st March 2024

I report on the accounts of the charity for the year ended 31 March 2024, which are set out on pages 17 to 24.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement in connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

  4. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Frank S Lachman Chartered Accountant Independent Examiner

31 Fairview Way Edgeware Middlesex, HA8 8JE

Actionspace London Events Ltd - Trustees report for the year ended 31 March 2024

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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 2024

Note
Income from
Donations and legacies
2
Bank interest
Charitable activities
3
Total income
Expenditure on
Charitable activity costs
5
Total expenditure
Net income/expenditure
Reconciliation of funds
Total funds brought forward
Reclassifications
Transfers
Total funds carried forward 10		 Unrestricted
Restricted
Artists
Designated
Total
Unrestricted
Restricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
Funds
2024
2023
182,351
-
-
182,351
92,435
-
92,435
4,124
-
-
4,124
1,221
-
1,221
239,342
58,708
9,919
307,969
213,947
180,657
394,604
425,817
58,708
9,919
494,444
307,603
180,657
488,260
425,728
83,215
5,826
514,769
292,545
196,965
489,510
425,728
83,215
5,826
514,769
292,545
196,965
489,510
89
(24,507)
4,093
(20,325)
15,058
(16,308)
(1,250)
240,271
67,518
-
307,789
225,435
83,604
309,039
-
-
39,630
39,630
-
-
-
-
-
-
(222)
222
-
240,360
43,011
43,723
327,094
240,271
67,518
307,789

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 2024

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
Designated Reserve
Designated - Projects
Designated - Artist Development Agency
General fund
Restricted
10
Total charity funds		 37,889
306,901		 2024
-
327,094		 52,973
322,608		 2023
-
307,789
344,790 375,581
17,696 67,792
327,094 307,789
195,435
22,661
43,723
22,264
43,011		 195,435
-
-
44,836
67,518
327,094 307,789

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

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.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts

The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the directors on , and signed on their behalf by John Tizard 29/10/24

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Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2024

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:

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 2024

(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.

(h) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

(i) Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2024

2 Donations and legacies

Grants for General Running Costs
Arts Council of England
Individual donations
3
Income from charitable activities
Grants , donations and contracts
Lambeth Borough Council
Liesma Young Will Trust
London Borough of Wandsworth
Studio Voltaire
Metroland Cultures/Culture Fund Brent 2020
London Catalyst
The Paul Hamlyn Foundation
John Lyons Charity
NIACE
Henry Smith Charity
St Andrews Charity
Deferred Grants brought Forward
Deferred Grants carried Forward
Fees, commissions, hires & misc income		 Unrestricted
Unrestricted
Funds
2024
Funds
2023
178,139
178,139
90,043
90,043
4,212
4,212
2,392
2,392
182,351
182,351
92,435
92,435
Restricted
Artists
Development
Agency
Unrestricted
Restricted
Unrestricted
Funds
Funds
Funds
2024
Funds
Funds
2023
-
-
-
-
4,000
-
4,000
-
-
15,000
15,000
-
-
-
-
-
24,818
24,818
-
23,105
23,105
-
-
-
-
1,000
-
1,000
-
-
-
-
5,000
-
5,000
-
-
-
-
4,000
-
4,000
-
-
-
-
41,800
-
41,800
30,000
-
-
30,000
36,000
-
36,000
-
-
1,000
1,000
-
-
-
-
-
40,000
40,000
40,000
-
40,000
-
-
14,740
14,740
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
30,000
-
95,558
125,558
131,800
23,105
154,905
28,708
9,919
143,784
182,411
48,857
190,842
239,699
58,708
9,919
239,342
307,969
180,657
213,947
394,604
Net outgoing resources are stated after
charging: 2024 2023
Examiner's fee 1,400 1,400
______ ______

20

Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2024

5 Charitable activity costs

Artists

Staff costs
Production costs
Office running costs
Accountancy
Independent Examiner fee
Rent and services
Total 2024
Comparatives 2023
Staff costs
Production costs
Office running costs
Accountancy
Independent Examiner fee
Rent and services
Total 2023
6
Employees
Wages, salaries and fees
National Insurance costs
Pension costs		 Charitable
Activity Costs
Charitable
Activity Costs
Designated
Costs
Governance
Costs
Total 2024
Restricted
Unrestricted
Unrestricted
23,248
238,892
5,826
-
267,966
59,456
153,629
-
-
213,085
368
11,845
-
-
12,213
-
4,165
-
-
4,165
-
-
-
1,400
1,400
143
15,797
-
-
15,940
83,215
424,328
5,826
1,400
514,769
Total 2023
120,545
119,360
-
-
239,905
72,423
148,865
-
-
221,288
997
9,449
-
-
10,446
-
2,405
-
-
2,405
-
-
-
1,400
1,400
3,000
11,066
-
-
14,066
196,965
291,145
-
1,400
489,510
2024
2023
243,466
218,355
18,753
16,480
5,747
5,070
_
_
267,966
239,905

The average weekly number of employees during the year, calculated on the basis of full time equivalents was 7.2 (2023:5.5)

No employee earned more than £60,000 during the year (2023 Nil) .

21

Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2024

7 Tangible Fixed Assets

Cost
At 31st March 2023
Disposals
Additions
At 31st March 2024
Depreciation
At 31st March 2023
Disposals
Charge for the year
At 31st March 2024
Net Book Values
At 31st March 2024
At 31st March 2023
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
Deferred income
Accruals and other creditors		 Office
equipment
11,644
-
-		 Art equipment
Total
4,247
15,891
-
-
-
-
11,644 4,247
15,891
11,644
-
-		 4,247
15,891
-
-
-
-
11,644 4,247
15,891
- -
-
- -
-
2024
2023
27,112
49,862
7,666
-
3,111
3,111
37,889
52,973
2024
2023
8,865
23,796
-
1,041
3,000
-
5,831
42,955
17,696
67,792

22

Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2024

10 Reconciliation of Movement in Funds

Reconciliation of Movement in Funds
Restricted Funds
- Income
Unrestricted Funds
Designated: Reserve
Designated: Projects
Designated: Artist Development Agency
General		 Balance at
31 March
2023
Income
Expenditure
Reclassified
Transfers
Balance at 31
March 2024
67,518
58,708
83,215
-
43,011
195,435
-
-
-
-
195,435
-
-
-
-
22,661
22,661
-
9,919
5,826
39,630
-
43,723
44,836
425,817
425,728
-
(22,661)
22,264
307,789
494,444
514,769
39,630
-
327,094

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:
John Lyons
UCL Inclusive Governance Research
Nnena Kalu Professional Development
Explorers Programme
Make it Live, additional delivery
St Andrews Holborn
Jide Brian Loewe Foundation Award
Tate Schools
Unilever Campus Commission
Analysis of Net Assets between Funds
Restricted Funds
Unrestricted Funds:
Designated: Reserve
Designated: Projects
Designated: Artist Development Agency
General
Unrestricted Designated reserve
Liesma Young Will trust: Roland Young
Retrospective
Animals To Remember Uganda:Camden
Arts Centre		 31st March
2024
31st
March
2023
31st March
2024
31st March
2023
31st
March
2024
31st March
2023
195,435
195,435
-
-
-
-
-
-
-
-
30,000
29,252
-
-
-
-
3,500
-
-
-
-
-
9,511
-
-
-
-
-
-
4,447
-
-
-
-
-
19,071
-
-
-
-
-
14,748
-
-
5,376
-
-
-
-
-
11,055
-
-
-
-
-
1,256
-
-
-
-
-
840
-
-
-
-
-
4,134
-
-
-
Designated
Unrestricted Reserve
Designated Projects
Restricted Funds
195,435
195,435
22,661
-
43,011
67,518
Tangible
Fixed
Assets
Net
Current
Assets
Total 2024
Total 2023
-
43,011
43,011
67,518
-
195,435
195,435
195,435
-
22,661
22,661
-
-
43,723
43,723
-
-
22,264
22,264
44,836
-
327,094
327,094
307,789

11 Analysis of Net Assets between Funds

23

Action Space London Events Limited Company Limited by Guarantee

Notes to The Financial Statements For the Year Ended 31st March 2024

Purpose of funds

Restricted funds

These are projects where the funders have imposed specific conditions.

Designated funds

Designated reserve: This fund is held in line with the charities aims to cover core running costs for a four month period.

Project funds: These are projects for which specific funding has been received to implement, but carry no restricted obligation.

Artist Development Agency: Funds received to support individual and group artists activities and not for general use of the charity.

Unrestricted funds

The general reserve is for the charity to use to carry out it’s aims and objectives.

12 Trustees

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

One trustee was reimbursed £132.76 expenses.

24