REGISTERED COMPANY NUMBER: N1610493 (Northern Ireland) REGISTERFD CHARITY NUMBER: 106350 Report of the 'frustees and Financial .8tatLhments for the Year EndLd.11 March 202.1 for R-space Cyallery Mcclcary & Company Ltd ChL1rtcr¢d Accountanls QuakLI' BuilLIiii&y. HigFlI Sireel Lurgian Co. ArniagFh BT66 8BB
R-space Gallery Contents of thl, Financial Statc%mi¥nts for the YL*ar EndLd 31 Mareh 2023 PagL' RLport of the Trustees Independent Examiner's R¢port 5 to () StatL&mLint of fi in#neial AetivitlLbS BalancL' ShLL't Notes to the liinan¢ial Stateinents 10 to 15 Detailed Statenient of Financial Activities IC) to 17
R-space Gallery Report of the Trustees for thL Year EndL,d 31 March 2023 Tlic IruslLCS wlio arL also dirLCtors of Ihc ch¢1rily for the puryosLs of thL ("0mpnICS Act 2006. present their report with thc fiiiiillLial sl<ilL'mcnts of thL cliarity for thc ycar ciidcd 31 March 2023. Thc Iruslccs havc adoptLd IhL provisions of Accountiiigi and RLporling by C'liariliL.s.' St1( lemcnt of RLLoiiimLnclL(I PraLtILL 4ippIILiiblL tu Lli<ll'ilie% pi'ep<irin&' theii. 4lLL(Iiiiil% in <tLLurdiinLe with tlie Finciii¢ial Rcporting Staiidard appliLdblc in th¢ U K and Repiiblic ot- li'eland (b Ilb 1021 (cft"cctive l January 21119}. OBJF,CTIVFS AND ACTlVI'fiF.S Objectives and aiins Thr()IigJlii)ut 2ll22-2023. R-SpiiLe (l¢illery L(Inliiiued iv suLLe%%fully pui'suc il,% Ll)aril¢iblc ()bjcLl% as dctined in its bYOVLrnin&y docuincnt: ( I ) To iqdvancc Ihc arts. includin&y conlvniporary visual arts cind Lrafts, for Ihc bLnL'fit of IhL publiL in Ih Lisbuni 14 1)d Clc silcrLagTli arLa cliid It% Liiviroi).% iii Nc)riliLrii IrL'land (l)LrLii)aftL'r Cc111Ld Il)L 'arL, of bL'nLfil") aiid iii particular: (a) l() 41cIv<lllLL IIIL LduL¢ltioii ()I' IIIL. piibliL iii ihL art% 11)Llu(liiiby LonlLmponry art.8 1< iicl Lf47fts, and lo eiiLouflL &ve cipprccidlion Iui. cin(I Pcll'liLipcilion in (ill loiii)s vl. Ihc alt% by ilTly chai'il¢iblc IncLITl% the dii'LLtoi's sLe tit. (bl t() L()-()I'(liiialL IhL PI'()Vi.si()ii ol. aclviLL. SllPPI)rl. Ii'aiiiiiibl 4111(I iiiLiiloi'iiibT 'illLI pi'ovisiuii ul" ILILililiLS for th¢ PIIIP()%L ol. lh¢ LilLI)iir1bTtI]LnI lind sliiiiulcilii)n ol. Ih()s¥ Iiilliiigy withiii th¥ LfL¢ilivL tsCLlor iiiid Loiiiiiiiii)ily cirls scLI()r, l)y &1ny cliarit&iblL Inccllls IliL dircLt()rs SLL fil. (2) T() pr()In()tL Lominunily dLvLlopinLiil 16 lid LIiLoufilgYL commiiiiity .spiril 1( nd LiViL pridL by oi'bianisinby or ,ILililiL liiib prowi%ioii ol. IQLliviliLs <qiiil ()r %P&lLL' I() %iipp()rt LILIivLry l)I' art.%, LiIIILifiil, i()IirisirJ, rL'LfLdiii)Il411, wcII-IILillb7. 4illLI uihLI' iiiiliiilivLS Ililil %LippuI1 Luiiiiiiuiiily iiitLgYI{IIioii Lind 51imiiliili()11 ul, diti%lic cr¢41tivily ii) Ihc arL¢i ol. bL'iiilit. Page I
R-space Gallery
Report of the Trustees
for the Year Ended 31 March 2023
OBJECTIVES AND ACTlVI'fiES
Si&inificant activities
Exhibilioii progyramme
Major ¢iiillLl%il fiiiidii)Ly fi-oin thL Ans CoiinLiI of NorthLrii Ircland allowLd R-Sp<lLL to clLVLlop anLI dLliver ils
lii&yli-qii<ility aiiiiLial ¥xliibilioIi proglroiiiiiic wliicli is inslninieiital to Ili¢ pur%uil of our objcctivL.%.
R-spucc run a scrics of divcrsc. innovativc aiid iinaLvinativc cxhibilions and acliviliLs in our byiillcry spacc in
Lisbuni. 14xliibition8 LnLoinpassLd visual art%, cr<i118, desibyn aiid musiL, ai)d wLre <1CLoinpatiiLd by talks,
wurk.4hi)P% iin(l ()Ilier CVLnl% ()pen t() Ihe piibliL. Tliruug7liuut the prugFfciinine we Lo1141boriilLcl willi %cveriil l()Lal
cind inlLrn411ion4)141rli41% an(1 LrL¢ilivL pi'(IlLs%iollcil,s at di I'li'rLnl sldgYL.% ol. IhLii' CcirLL'r, olTL'I'ii)by IIIL'ni all siippoil,
adviL¢ 11](1 upporluiiiti¢s lur prDIL%SiOli<il Il¢v¢lopniLiit.
'Ad()niiiiLlIt: RL-lJsc & RL-Iiii¢lLVlI)L' fxliibitioii (Aubyust
SLPtLinbcr 2022)
WL partllLfLd willi thL
A8%l)Llcili()n ot C.onlL'inp()rary JLWL'IILry 4iiicI SilvL'isiniil)iiiby iii NurthL'ni IrLl4iiid on Ihii UIIiqUL Lxliibiliun.
TobTrL'ilicr WL showc1¢ 8L<I IliL work% ol. Icii (1rtis1s/inc1kLr% lii&¥hligyl)lii)by di%iiiiLIivL' Lh&1f1L LILI'is1iL% ol, jLWLIry,
%ilv¥rs1iiiiliing Lin(1 IL'xiiIL (lrt. 415 w¥ll <lS vv¥i'l¢iPS b¥twLLii Ihlin Li'¢atingF new unLxpLLILd %ynLI'gyics and
dirLLlions iii L()IIILillpoi'&lly Pl'6iLIiLL%.
'MalLrials. ML.SS1< L7L'% 42nd MLaninL, 11 I l. . Siistainability, E'.xliibition (Ni)VLinbLr
() DLLL'inbcr 2022) - Our
Luralorial ILc1m LaiTiL% ()Ut ()nuy()iiiuv rLscai'Lli oli IopiL% aiid i,8suL% rLILvant to Lc)iilLiiipc)rary arl, OLif %OLiL'ty and
proviLlinb l(iod l()I' tli()Iigilil to (iur <TrucIiL'lILC%. 'I'lirou&ih ali opLIi L<ill WL SL'ILLILII .Incl prL'sLiiIL(I thrLL visual
iirii515 (Ja.SPLr MLKiniiLy, Molly Mi<1 Murphy iillLI JLidiili Warinbyl wliu%L' woi'k ¢xploi'Ld Ilic IlILinc
'%ii%tciiniibility' ciiicl l(ILikLcI dl Lli111411L LhclllbYL', rLbi¢ii¥rali()n aii(I bii-()wili.
'A LifL In Dub, F.xl)ibilioii (J4inuiiry FL'I)ru:iry 2023) Tl)is IributL Lxliibilion cclLhr611Ld niusiLi16 n Pliilip
Pc)ILI)ii's lifl iii Lluli lond rLg'gTaL iiiii%iL. 11 LxplI)rcd l)i% ivi)rk willi (Q nuinb¥r of rLllI)wllLLI iiilLni<qlic)niil arli%ls h
Loll<ibi)r4olLd willi i)VLr i1iL yL'cir% IL.g. I l()r<)LL Aiidy, CirLibyory l.sa<lLS anLI LLL. 8LratLlI PLrry) (Triid iiivilLd
vi%ilur% lo joiii hi% livc Inu%iL Lind jaininiiigT .SC.S%1(111%.
'Slilcli ML Up For Lil¥, Exhibiti()ii (MLircli 2023) This cxhibilion by tcxlilc aiid enibroiclcry cxpcrt Janel
HaLknLy focussLd oli various aspLLts of lic'r work, Iroiii liL'r prLP&iratory drawiii&y5
R-spllce Gllllery
Report of the Trustees
for the Year Fnded 31 March 2023
OBJF.CTIVES AND ACTIVITIES
Our exliibition progii-<iiiinie en&7dgved nuinei'oiis parlicipants and dudiciiLes dncl promotecl their under.4landing
and <lppfLciation of Ihc L?rts. Talks, coniiiiiiniiy workshops and other participatory cvciil8 also c'nLoiif¢ibJed
thLllI to Icam nLW skills. All ()ur iiiiliqlivLS wLrL' frec of cliarLpc and took pllc CL ill tIIL WLILotiiinbTr 1< lid sliarcd
spaLL' Ot our gYallLry, thi1% L'n¢()Iir1c gTIIILF acccss and partiLipalion troin divLrSL individual% and L(ImmiiiiitiLs,
living iii or vi8iling Lisbuni/NortliL'ni IrL'I(IiicI. Dibrilal ar¢ cont¥nt for all cxhibitioii.$ 011 Oul. WLbsile diiicl .SOCl<il
media 411%0 allowed us to re<lLh viewLr.% intcrnatioiiJlly. We bLIiL VL'LI WL. pruviclLd (In eiii'iLhins pi'OgTramni¢ and
we We d¢libFht¢d to rcceive many po%itive cominents abolit ilieir expLrieiiLL ()t'our &Y<illcry Jn(l arts aclivilies.
sustainability
R-SpilLL' LLinlinuLxl to Inaiiitciin its sustainability Ihrougyhout this year aiid Ln%urLd Iliat finaiicial rcsourccs wcrc
iii placL lo pur.8iiL ils charilic blc objcLts, with ilie m1<ill gvfilllt bling thc Arts Council Nl lor Il% Lxliibitioii
probTrrammL aiiil wilh LinrLstriLte(I t"UllLl4 ul.so Lontributing7 to co.sls. Thc Lharity thu% clu%ecl the ye<ir in a %l¢ibl
tin(Iiicial position.
Fiiturc dLvclopni¢nt%
R-%paLL slrivL.8 to SLLurc fundinby to LXI)IL lid our progirainmc. Wc wcrc dcligFlilcd to bc awardLd a sub8laiitial
vraiit IrL)m thL Niilioiial LoltLry I Icril6lglL I'"Iiiid at thL cnd ol" IhL yccir lo dLlivLr the LiiiLn Ili¢iinalL il) tIIL nLw
ycar. 'I'liis projLLi lcd by R-Sp&TrCC Giillery. is a bi-aiinuol festival ot. heritage4 &1rt.9. cr1(11 c1nd de.sign. It inclLides
Lxliibiliuiis. LIisLU%%lUliS. W()I'k%liop% 41ncl LVLnls wilh partners acruss NuilhLim IrLl<iiicI, cLILbrdting linen
lierildbyc. wliilc g?iviiig7 il LonlLiiipofcliy rL'IL vdnLe.
STRUCTURF., GOVF,RNANCTr. AND MANAGFMENT
CyQVL'rnin&v documL'nt
"I'hc cliarity 15 conli'ullLLI by its &yov¢iiiingi docuiiiinl, a dL'LLI ol" Ii'ust* ¢iiicI Lun.slilutLS a liimilLd Lompciny, liinited
by guJrLinleL, as clLlinLd by Ihc C oiiipaiiic4 ALt 2006.
MiinabTLIIIL'nl & CJOVLrnanLC
R-SpclLL LOI)IiiiuLd lo bL ill¢inagyLd by a strongj and Lnil)usia%liL OPLratioiial IL'<llll Ot. man
R-space Gallery Report of the Trustees for the Year Ended 31 March 2023 Trustees Mr John Millar Bradbury Scmi Rctircd Mr George Clarke Chartcrcd Survcyor Mr Norbert M P Sagnard IT Consultant Mr Paul Michael Beaton Teacher (resigned 4.4.23) Ms Karen Mooney Retired (appointed 31.3.23) Jndependent Examiner John Mccleary FCA McCleE1ry & Company Ltd Chartcrcd Accountants Quaker Bliildings Hi&yh Strect CraigTavon Co. Annag7h BT66 8BB Overall 2022-23 was a successfiil yel< r that strengthcned the organisation and prcpcircd it to move with Lonfidence into 2023-24 witli ncw initiativls and collaborations that increasL' appreciation, practice, and enjoyment of the arts and benefit the public. Approved by ordcr of the boc2rd of tru8tees 011 25 January 2024 aiid sigiied on its behalt'by: -Pr LK, Mr George Clarke - Trustee Page 4
Independent Examiiier's Report to Éhe I'rustee5 of R-space G.Illery I rcport on th¢ 1L CCOUllts of the coinpaiiy for tli¢ ye4ir Li)dL'II .3 l MarLh 2021, wliicli are .set out on P4?ges seven lo fifieeii. Rcspeetive responsibilities of charity triistces and exaniiner As Ilie cliai'ity'.s li'ustLcs (and also thc dircLtor,s for IIIL l)urposcs i)f conip¢111y law) you arti i.espoii.8iblL for the prcparc11ion ot- thc accounts iii arcordaiice wiill IIIL reiiuii'LIIILnls of Iliu C()iiipanic5 Act 2006. H1( ving satisfied myself that the chai'ily is iiol subject lo audit uiider compL11)y law and is eligible for iiidepei)dent exainination, il is Iny rcsponsibiliiy to.. ex¢lniiiic tlie 1lvcoiiiII's uiider. SLclioii 65 ot. Ilic Cli(IriliLS Act lolloiv IIiL' proLcdures 114 id dowi) iii IhL gLI)¢i'al Dii'eclii)i).s givLii by 11)e Chc1rily C'oinjnission for Noi-Il)L'rn Irelqiid undei. SLclioii C)5(9)(b} i)f Ilic Cliiirili¢% ALI 5talL whLlhLr particular niilllers liiive come Io Iny clllciilion. Basis of tlie independeiil eyaminer's report I1)&1V¢ Lxainii)L(l yoiii" cliai'ily aLcuuiils as i-equired uiidci. Sectioii 65 of Ilie C.liill'itiLs Acl 111111 iny exailiiniilion W4i5 cari'ic(l oiit in CCOI'(1<11Ice ivith tliL gLiicfl¢1 l)ii'ectioi)s sTriveii by Ilie C'11471'ily C'(Imiiiission for Noi'tliei'i) IrLlaiid iiiidei. SeLlioii C1S{())(b) uf Ihc Charilics ALI. Tlic cxainiiialloll Iiicluded a I'evicw of tlic .Iccouiiliiib' rLLOI'd% kepi by lh¥ Lhai'iiy Jiid a Coiiipiirisoii of the acLoiiiil8 pfLseiiled with Iliose records. It also iiicliidcd coiisi(loi',?lioii of (Illy IIIIII%U¢l1 ilLiiis oi. disclosiirL% in Ilie accoiinls. Iqnd S¢¥kiiigtr cxp11¢ ll<lli01i5 from yoii as cliJi'ity IruslLLb coiiccining any SULII InallLrs. My I'ole is to slalc wlieilicL' any 11111erial i)iatlL'I',5 h¢ive come lu iny attuiilion giving iiie caiisc to believe; T111t loccounliiig rccoi'ds werc iiol kept 111 ¢iccoril¢ince with Seclioii 386 of the Compiinics Act 2011C) Tliiil 11)L <lLcuiiiilS do nol aLcor(I will) IIIosL accounliiig rLcords Tli(Il IhL accoiii)ls do 11()I coiyjply witli thc aLLL)Iiiiliiig rL(iuiI'cinLiI15 of Seclioii 396 of the Compaiiics Act 200CI aiid willi Ihc iii¢iliodb ai)d priiiLiplLS of tli¢ Cl)arilie% ,Slalciiiciil lif RLLciiiunL'I)dLd Practic Ipplicablc to cliariliL% l)fLI)Ji'iii& IIIcii' IlLC()uiils in 41L¢ordiincL' with IhL. F inaiicial Reporlii)g Slciiid41rd ai)pliL411)IL 11) IIIL IIK iinil Rupublic i)f Ir¢14111d Tl)al tliLI'L is I'Lirlliei' iiiforiiialioii iieL.dcd for a proper undcrslai)ding i)f11)e accviints to be rcacli¢d. Indfpendcnt cxaminer's stAtement IIIVL. coini)ILlcd iiiy CX¢irrii112¢ Iioii &lll(11i4iVC iio coiiccni.% in resi)ect of Ilie IniltlLI's ( l } 10 (41 li%tcd iibovc aiid. III LOlll)Lcli()11 Iviili fill l(Iwiiig) Ilie r)irLLI i(ii)s of the Cl)ariiy Commissioi) fur Norihcrii Ir¢land, I li.Ive fouiid iio ii)all¥i-% Il)(Il rLCllliI-L. di-awiiibT lo youi. allLiilioii. Johii MCLI Th¢ InslilutL ()f C.liartcrcd Accountanls iii li'claiid Mccleary & Company Ltd Cliartered Aecoiintaiits Qiiakcr Biiildiiigs Higli Sli'cct Liii'gaIi Craigavon Co. Arinagh BT66 8BB Page 5
Independent Examiner's Report to the Trustees or R-space Gallery 25 January 2024 Page 6
R-space Gallery Stalemcnt of Financial A¢tivities for the Year Ended 31 March 2023 31.3.23 Total funds 31.3.22 Tot¢Trl UnreslriLicd fund RestrictLd fuiids INCOMF. AND F.NDOWMF.NTS FROM Donatioiis aiid ILb'aLiLS 908 908 8,321 Charilable activities Otlicr IIiLomL Grants Ilcceivable 15,000 15,000 107.321 107,321 83.41 Other trddingv activities 832 785 1.617 3,33() Total 1 ().74n 108.10() 124.846 95.0()X EXPENDITURE ON ChJritahlL' Activitie Dii'LLI C'os1% SuppDrt Losl5 X.695 915 53.710 C)2,4115 915 82.()()() 820 Total 9.(?10 53,710 C).1,320 83.510 NET INCOME 7.130 54..396 (?1.521) 11.5514 RECONCILIATION OF FUNDS Tolal luiids broug)lil lorward 1 ().009 8.312 24,321 12,763 TOTAI. FUNDS CARRIED FORWARD 2.1,1_19 62,708 85,847 24,.321 The iiotLs torni part of thcsc fin41ncial slatcmciits Page 7
R-space Gallery Balante ShLet 31 March 2023 31.3.23 Total funds 31.3.22 Tot&il runds UnrestriLtcd RcstriLtLd fund rui)ds CURRF.NT ASSETS ca.sh al bank .Iiid in haiid 24,477 62.708 87,185 50.554 CREDIT()RS Amounts t<111ingF diic within onL yLar {1,338) (1,338) (1.323) NET CURRENT A,88Tr=TS ?3.139 62.708 Ig5.847 49,?31 TOI'AI. Assb I'S I.ESS CURRLIYT LIABILITIF.S 23.139 ()2,708 85.847 4(),?.I I CRF.DITORS Ain()Iint.s tcqlliiigi duc aftLr InorL ihaii L)IlL' ycar 6 (24,()1 O) NET A6i6iETS 2.3.139 62.708 UIYDS UnrestriLILd luiids RLs11'iLtL'(I lund 23,139 ()2,71114 16.009 8..312 TO'I'AI, bUNDS .5,847 Tlic cliarit1blL Loillpclliy is Llitiilcd to cxLniptioii froin i?udit undLr SLCtioii 477 of IliL' Compi1111LS ALI 2n06 for the year eiidLd .3 l M61rLh 2023. 'I'he Incmbcr% liave iic?t reqiiired tlic L()mp<illy lo obtc?in Lill Liiidit ijt its tinclllLiiiI %l&ilcm¢nls lor the yecir ended .31 M411'LlI 211?.l in (iCLordiillLL wiilI SL¢lion 471) of IliL C'ompaniL'S Act ?l)11(). Th¢ truslLCS aLkiiowlcdbYC Ilicir rcspoiisibilitlLS for (a) LllsLifiii&7 tliat Ilic cl)cirit&iblL Loiiipaiiy kccps accounlinbi rL'cords Iliat coinply willi Secliotis 38() and 387 c)t thc Comp&l1iies ALt 200() 1L lid prL'pariii& Iit141llLl&il stc11omLnts which give a tnie and 11( ir view of Ilie slate of alTair8 of. the ch4?rildblc ¢onipciny (is at th¢ eiid ul. LaLh Iiiianci(Il yecll. anLI ol. ils buluS oi. d¥ficil lor LdLh Iiii&illcicil year in acLordanc¢ with IliL rLquifL'ineiits ot" Sections 194 and 395 <ind whiLh oihenvise coinply wilh IhL reqiiireni¢nts of thL Conip<iiiies Act 2000 rLlatinb to finanLi141 slatLniL'nls, so far as applicable to the cl)aritablL' company. (b) Thc nolcs t.omi part of thcsc finaiicial 8talcmcnts PabFc 8 cvntinu¢d...
R-space Gallery Balance Sheet- continued 31 March 2023 Thesc financial statemcnts have bccn prcpared in accordancc with thc provision.s applicablc to charitablc companies subject to the small Companies regimc. The financial statements were approved by the Board of Trustees and aiithorised for issiie on 25 January 2024 and were siLmed on its behalf by.. Mr Norbcrt M P Sagnard - Trustee The notes fomi part of these (inancial stalements Page 9
R-space Gallery Notes to the Financial Statements for the Year Ended 31 March 2023 ACCOUN"fiNG POLICIES Btssis of prcparing thL financial sl&lL%mL¥nts The fin<lllLial statLmcnt.4 of ihe Lhai'itdble Lomp41ny, wliiLh 1% a publiL benefit entity iinLlcr FRS 102. havc beeii prepareLI in (ILLoI'd<illLL Wltli thL' Chai'iliLS SORP {FRS 1021 'Accouiiliiig7 Iiiid RLPOrting, by Ch1riliLs'. SialL'IIILnt of IILeoiiiiiiendLd PriqCtic¢ appli¥ablc to ch<iritiLS prL'p:Iriiib' IhLir acLouiil% in ,ILLordclllLL willi IIIL Fii)'InLi'II RLp()i-linbi %t¢liid&lrd &Ql)pIiL,TrblL in IIIL UK ¢qnd RLpubliL of IrLlciiid (FRS 102) (¢ffLclivL I J(Iiiuary ?019)', fiiianLial Rcportinby Slaiidard 102 'Thc FiiianLilc l Rcporting Sl<ind4ird applicablc iii thc IJK and Republic of. IrLland' and IhL' CoinpaiiiLS ALt 2006. The financial statcmcnls h41l'e becn prepared under the hi%loriLal Lost conveiilion. Income All iiiLomL 1.4 fLLOg7niscd in the Statement of. Fiii<illLi(il ALtivitie% onLL the Lliarity has Lntitlemeiil t(} the lui)cl%, it is pi'obablL Ihal the inLoinL will be receiv¢d aiicl the ainount cali bL InLasurLd rLliably. F.xpL'nditure Li¢ibililiL% cifL rLcoL?nisLd cxpLnilitiire <1% soon :Is thLrc 1% (1 ILg:Il or conslructive obliL?4?lion i)iiiiiiitlii)by IIIL. Lliai'ily to I111c t LXPLiidilurL, It Is pr()b&il)Ic' Ih41l il Ir14 nsf¥r of LLoiioiiiiL bLiILfils will bL rLqiiirLd iii SLlllciiiLiit aiid IliL <QlllOUlIt of Ili¢ obligyrf21ion LrfQli bL IIILasurLd rLliably. F.xpLiidiliirL IS Iccoiiiilld for on an aLcruals ba8is aiid ha8 bLCII Llcl.85itILd uiidLr hccldiiigis tli6i1 ag'gyr¢gTatL 'Ill L()%t rLlalLd to the C42ILg70ry. WIILrL L()%t% L<iiin()I bL clirL'LIIy 1cllributL(I to P&irtiLu11¢r hcl¢dingTS IhLy havc beLn IIuLalLd to aLtiviliLs un d b&l%i% Lon4i%tLnl willi the use ot. ILsourccs. I'axation ThL' Lhcirity IS Lxciiipl Irom Lory)Oi'<ilion l(Ix on ils LliaritablL' dLtiviliL'%. Fund accoiintink UiirL%triLled lun(l% ¢)n be use(1 in aLLor(lanLe with tlie cliarit(Ible objectives al the di%¢relion of Ihe IriiblLLS. RLslriLILd funds cali only bc uscd for P61rticular rc.8tri¢lcd Pu0$L$ wiiliin Ihc objLLI,s of Ihc chlc rily. RLstriclions arise wliL'n %PLLiIiLd by thc doiior or whLii lunds aL' raisLd tor P1<rtiLiilar rL'striLIL'd purpo%e%. FiirtliLr L'xplanalion of the naturL aiid purposL of LaLh fund ib iiicliidLd in Ili¢ notes to thL liiiancial st4?tLiiicnl8. Page 10 colltinued...
R-space Gallery Notes to the Finaneial.Statements- continued for the YL¥ar Ended 31 Mareh 2023 OTHTr:R'fRADING ACTIVITIES 31.3.23 31.3.22 ElirL lies xliibilioii salcs 440 1.177 300 3,036 1,617 3,336 TRUS'I'FF,S' RFMUNF.RATION AND Bb NVFITS There w¢r¢ no tni%lees' remuneration or oilier benetils for th¢ year ended 31 Marcli 2023 nor lor the '( r cndLd 3 l MarLlI 2022. Truytees, expen.ses TlierL wLrL no Iru%tLL8' LxpLllsL% paid for IhL year ended 31 MarLlI 2023 nor for thc year ciidcd 31 MiirLlI ?1122. C()MPARATIVF.S F()R THF. STATF.MENT OF FINANCIAL ACTIVITIES UnrLslriclL.d RLslriLl¢d lund liind INCOMF. AND D NDOWMF.NTS FROM Don(Ition% <iiiil IL'bvaLI¥s 8.321 Charital?IL¥ activities Grdnl.% ReLeivable 12.228 71,183 8.1,411 Otlicr tradinby activiliLS 1.211 2,12. Total 21,7(10 95.068 F.XPF.NDITIIRF. ON Charitable aetivities Dirccl Costs Suppc)rt costs 21,411.1 820 61.207 ¥2,()90 820 Total 22,303 61,207 NET INCOMEI{EXPENDITURE) (543) 12,101 11,558 RF.CONCII.IATION OF FUNDS Tot<11 tiiiids broLiglit tonvar(I 16,552 (3,789) 12,763 Pagell continued...
R-space Gallery Notes to the Financial Statements- continued for the Year EndL.d 31 March 2023 COMPARATIVES FOR THE STATF.MEN'f ob b INANCIAL ACTIVITIES - continued Uni'¢%tricted Restricted fiind t.unds flinds TOTAL FUNDS CARRIED ORWARD 16.11119 CRF.DITOR.S: AMOUNTS FALI,ING DUF. WITHIN ONF YFAR 31.3.22 Other LrL'ditors AccrLicd cxpcnses 55 1,268 1,336 CRF.DITORS: AM()UNTS bAI,I,ING DUL AF'fii.R MORF THAN ONE YFAR 31.3.23 31.3.22 Accn11& l.g &ond dLfcrrLd iiicoinc DLILrrL'LI by()I'LIlllllLiII &iraiil i.f,000 i) i)10 24.9111 MOVP.MLN'I' IN FUNI)S NL't IIIOVL'mLiil in funds At 1.4.22 31.3.23 Unrestrleted funds GLIiLral fund 16,009 7,130 23,139 Restricted funds Arts CouiiLiI ofNorthcm IrLlg< nd Niilional Lottery Herilagyc Pund 8.312 4,720 4C).(?76 13,032 41),676 8.312 54,396 62.708 TOTAL FUNDS 24,-121 ()1,52C) 85.847 Page12 continued...
R-space Gallery Notes to the binancial Statements - continued for the Year Ended 31 March 2023 MOVF.MbNT IN FUNDS- continued Net mov¢mcnt in t"uiicls. inLluded in the above are as follows.. IIiLoinin rL.soufLe8 RLsoLirccs ¢xpLiidcd MovcmLnt iii 1]d$ Unrestricted funds Cjcneral Fund 16,740 (9,610) 7,130 Rcstricted funds Ai1% C.'oiiiiLil ol. Nc)rthcni Ircllc nd Artisl, LCC'C National L()IIL'ry I ILrilagvu Piiiid 56,910 7115 (5? 190) 1785) 17351 4,720 49,1)7C) 49,676 108,106 {.53.711)1 54..3()() TOTAL FUNDS 124.84() 16.3,3201 61.5?6 ComparatlVL'S for movemL'nt in funds movLinL'nl in fuiids At .31.-3.22 At 1.4.21 Unrestrictcd funds 16,552 I C).009 Re%tricted funds Arl% CoiiiiLil ol- Nortlieni IrLland l.lalit"ax (().303) 2.514 14,615 (2,514) 8,312 {.3.7891 X.-312 TOTAL FUNDS 12.7().3 11,5511 24..321 Pa&ye 13 coiitinlied...
R-space Gallery Notes to the Financial Stat¢ments- continued for the Year Lnded 31 March 2023 MOVF,MF.NT IN FUNDS - continued Coiiipcirative nLI movenicnt in tunds. il)Llu(led in the (Ibove are as follow%: Incoiiiing rLsoufLL' ResoLirccs LXPLndLd MovLinL'nt iii liiiid. Unrestricted funds General Fuiid 21,760 (22.303) (543) Restricted funds Art% C.'oiiiiLil ol- Northcrn IrLland FlJli lax Artislb FoylL Foundation LC'CC 63,283 (48.668) {2,-$14) {2.125) (2,500) {5.400) 14,615 12,$141 2,125 2,500 5.400 73,308 (61,207) 12,101 TOTAI. FUIYDS 95.0(18 {83,51(1) A Luiirnl year 12 Inontli% and pi-i(Ir yLai- 12 Inonih.% combinLd po%ilion is (IS t"ollows'. NLt In()vLni¥iit iii fuiid,s Al 1.4.21 UnrestriLted funds CiLnLr4211'"Iind I C),5.52 1).5R7 23.139 Ri'5trictL.d funds Art.% (.'ouiiLil ot. Northcm IrLlJncl Ilalilax Nalioiial LollLry FILril:IblL Fund (6,-1113) 2.514 1 (),-33 {2,514) 49,676 11.1132 49,676 (3,78L) ) 66,4()7 62,70 TOTAL FUNDS 12.7()3 73,084 85.847 Pag¢ 14 conlinlied...
R-space Gallery Notes to the Financial StatLments- eontinued for the Year Ended 31 March 2023 MOVF,MEIYT IN FUNDS- continued A cun'ent yLai' 12 months and prior year 12 montlis Loiiibined net movement iii tiiiids, incliidL(l in Ihe ¢ bove are as follows.. Incomin rc'sourL¢S Rc8oiirLL% CXPL'ndid Movement in IuiiLIs Unrestricted funds Genei'¢il l.uiid 38..500 (31,913) 6,587 RLhStri¢ted funds Arts Ci)unLiI of Northem Ircl&incl Hall lax Artists FoylL Fouiidiqlion LCC('. 1211.1 l).I { I1111.X581 (2,514) (2.910) (2,$001 {C),1351 l (),-3.35 {2,5141 2,910 2.500 (),135 4L),1)7f) N&?linn1< l LollLry l-ILfiiLig7C l.und 4l),67() 1141,414 (114,917} ()C),497 TOTAI, FUNDS 219,()14 {14(),141(1 I 7.1,IIX4 REI.A'fLD PARI'Y DISCI,08URF.S ThLrL w¢rL' iio rL'lalL'd Piirly Ini1?,ILl1OnS for IhL yciir ¢'ndLd I l March 2023. Page 15
R-space Gallery Detailed Statement of Financial Activities for the Year F.nded 31 March 2023 31.3.23 31.3.22 INCOML AND ENDOWMENTS Donations and legacies Doiidli011s 908 8.321 Other Irading activities I IirL fL'CS F.xl)ibition 5alcs 440 1,177 300 3.036 1,617 3,336 Charitable activities 1 ()7,-1?1 83.411 ()Ihci' incuin 122,-121 83,411 Total incoming rcjiources 124,846 95,0()8 EXPENDITURE Charitable uctivitie¥ 10.()l.I 25,01111 8.1.38 ?s,111111 1.{14? C"uriili)r iisurclllCL LibFhi Liiicl hcclt TLILphunL Po%taL7c dnd %talioncry AdvLrtisinb Siiiidrics F.xliibilioii & artist costs EquipinLiii & InalLficTrls rccl6inc¥ costs Reserves provision RLni & rates ProtL.8%1()llcil fLLS & subscripiions Motor & Iravil Bank chargFCS Equipm¢nt repairs C)411 ()71 9111 c)0 15,980 .5()() 3,525 15.000 5,813 -320 278 -302 (42) 11.715 5,818 2,270 1,902 167 I,o{i() 159 421) 62.405 82,690 This pagic docs not fom] part of the stalulory fitianLial stalLinLnts Page 16
R-space Gallery Detailed Statement of Financial Activities for the Year Ended 31 March 2023 31.3.22 Support costs GovLhrnanee eosts ALLOLintanLy diid IL'Lval ILLS 915 820 Tothl rcsourccs cxpcndcd Net income 61,526 11,558 This pagyc doc8 not fonn part of th¢ statutory financial stalL'inents Page 17