## **Artists’ Spaces SCIO**
## **REPORT AND ACCOUNTS**
**Scottish Charity Number SC051153**
**Year to 31 March 2024**
1
**Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
|**CONTENTS**|**Pages**|
|---|---|
|Trustees’ Report|3-5|
|Independent Examiner’s Report|6|
|Statement of financial activities (including income and expenditure account)|7|
|Balance Sheet|8|
|Notes|9-12|
2
## **Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Trustees’ Report**
The trustees present their report and the accounts of the charity for the year to 31 March 2024.
## **Reference and administrative information**
**Charity Name** Artists’ Spaces SCIO **Scottish Charity Number** SC051153 **Principal Contact Address** 57 Henderson Row Edinburgh EH3 5DL
## **Trustees**
## **Governing Document**
Artists’ Spaces SCIO (known as Outer Spaces) was registered with OSCR as a charity on 27 July 2021. The SCIO is established under its Constitution which sets out its structure, its charitable purposes and powers.
## **Recruitment, Appointment, Role and Responsibilities of the SCIO Board**
The members of the SCIO Board are the charity trustees for the purposes of charity law. The Board may appoint any person to be a charity trustee by way of a majority vote at a Board meeting. At each Annual General Meeting, one-third of the trustees shall retire from office but are eligible for re-appointment at the next Board meeting.
Subject to seven days’ notice and a quorum of 2 trustees, the Board meets on a regular, as required basis, but typically at five to six week intervals.
## **Objects of the Charity**
The objects of the charity are Advancement of the Arts:
- Increasing public exposure to, appreciation of, and involvement in the arts.
- Improving facilities and venues where art is produced, displayed or performed by providing spaces for artists and creative practitioners.
- Reaching out to new audiences by bringing art into public spaces.
- Providing opportunities for participation by people who might otherwise be excluded.
3
**Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Trustees’ Report (continued)**
## **Achievements and Performance**
The Board is pleased to report that the charity’s third financial year was successful in terms of raising sufficient donations and grant funding to support the development of the charity and its activities. Artists’ Spaces SCIO gratefully acknowledges financial support from Creative Scotland and Creative Funding from Aberdeen City Council.
The charity supported 603 artists, artist-collectives and arts organisations with free, temporary studio and project spaces in vacant commercial property in 11 different local authorities: Aberdeen, Aberdeenshire, East Ayrshire, Edinburgh, Fife, Glasgow, Highland, Inverclyde, North Lanarkshire, Perthshire and Renfrewshire.
Doors Open Days in Aberdeen, Edinburgh, Glasgow and Perth were an opportunity for resident artists to open their spaces to the public and show how they transformed empty commercial spaces into studios, performance spaces and creative community hubs, attracting more than 1000 visitors over the September open weekends.
The Curators’ Day held in January in Edinburgh was attended by 50 programming colleagues and emerging and independent curators who were invited to discover more about the charity and how it can support curatorial practice and projects. Attendance was free and there were a number of travel bursaries available for freelance and low waged curators.
The charity became a member of the Sustainability Working Group that grew out of the Springboard Assembly for creative climate action, organised by Creative Carbon Scotland, and joined the following networks: Culture Aberdeen, Creative Renfrewshire, Culture NL Artists Network, Creative Edinburgh and Glasgow Connected Arts Network.
A number of strategic partnerships and collaborations have been developed and maintained, including:
- British Council as part of their Venice Fellowships Programme to create an open call for a creative individual from our network at an early stage of their career.
- Edinburgh College of Art, Grays School of Art and the University of the Highlands & Islands to support new graduates with free space.
- Circular Arts Network to accommodate and support the redistribution of spare, used and surplus materials for artists.
- Edinburgh Art Festival to provide space for community engagement in Wester Hailes, an area that scores highly on the Scottish Index of Multiple Deprivation.
- Peacock Visual Arts to create ‘The Print Room’ showcasing their prints archive in a prime city centre space in Aberdeen.
- Sculpture Placement Group (SPG) to bring work out of storage and engage audiences in some of Scotland's busiest high streets and shopping centres.
- Creative Informatics to research public responses to the changes brought about by the charity’s vision to transform vacant spaces and the difference it makes to communities.
4
Artlsts. Spaces SCIO
Report and Accounts
Year to 31 March 2024
Trustées. Report Icontlnu8dl
Awareness of the charty has spread through the promotion of opportunities for artists via social media and
online. Waiting lists grew to 1567 artists looking for space, networks and opportunities. Press coverage
includèd f8atur8s in The Scotsman. Edinburgh Evening News, Glasgow Times. The National and broadcasts
on BBC and STV news channels. A contribution was made to an opinion piece in Third Force News about
funding fears in Scotland's creative s8ctor.
During the year, there were 8 paid staff. 2 employees earned between £60,{ and £70.000
Flnanclal Revlew
Tho results for the year are sot out on page 7.
The principal source of unrestricted funds was donations. These donations amounted to £481,956.
A loan was obtained from Social Investment Scotland to assist with workin8 capital in 2022123. This
amounted to £50,OLM). Ropaymonts of the principal stsrt¢d in Nov•mber 2023.
This financial year saw staff costs as the main driver of expenditure at £299,237. This resource enabled our
continuod expansion acros5 kotland, supportin8 many rnor• artists. Local Authority Rat•s ar• in lin• with
extra properties o¢cupied.
Other expenditure was retained at relatively low levels with the result that the charity had a Net Deficit of
£10,893 for th• y•ar. Unr•strirt•d funds f•ll accordingly to £35.402.
Pl4n$ for futur• porlods
Since 31 March 2024, the charity has continued to make more space available to artists, artist-collertive$
and arts or8anisations in both existing and new locations. New opportunities for artists, professional
development continue to be developed and strenohened through pro8r•mmin8 and partnerships across
Scotland.
Feedback from artists and wider evaluation will continue to inform programmin8 and future development
across the charitrfs operations.
On behalf of the Board
Oate: 2011212024
**Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Independent Examiner’s Report on the Accounts**
**Report to the Trustees of Artists’ Spaces SCIO (Registered Charity Number SC051153)**
## **On the Accounts of the Charity for the year to 31 March 2023 (set out on pages 7 to 12)**
## **Respective responsibilities of the trustees and examiner**
The charity trustees are responsible for the preparation of the Accounts in accordance with the terms of the Charities and Trustees Investment (Scotland) 2005 Act and the Charities Accounts (Scotland) Regulations 2006. The charity trustees consider that the audit requirement of Regulation 10(1) (d) of the Accounts Regulations does not apply. It is my responsibility to examine the Accounts as required under section 44(1) (c) of the Act and to state whether particular matters come to my attention.
## **Basis of independent examiner’s statement**
My examination is carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. 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 seeks explanations from the trustees concerning 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 report**
In the course of my examination, no matter has come to my attention
1, which gives me reasonable cause to believe that in any material respect the requirements;
- to keep accounting records in accordance with section 44 (1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations, and
- to prepare accounts which accord with the accounting records and comply with Regulation 9 of the 2006 Accounts Regulations
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Date: 20/12/2024
Accountant, G Spratt & Co, Abbeylands, 20 High Street, Dunbar EH42 1EH
6
## **Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Statement of Financial Activities (including Income and Expenditure Account)**
||**Note**|**Unrestricted**
**Funds**|**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Restricted**
**Funds**|**Restricted**
**Funds**|**Total**
**Funds**|**Total**
**Funds**|**Unrestricted**
**Funds**|**Unrestricted**
**Funds**|**Unrestricted**
**Funds**|**Unrestricted**
**Funds**|**Restricted**
**Funds**|**Restricted**
**Funds**|**Restricted**
**Funds**|**Restricted**
**Funds**|**Total**
**Funds**|**Total**
**Funds**|**Total**
**Funds**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||**2024**||**2024**|||**2024**||**2023**||||||**2023**||**2023**||
||||**£**||**£**|||**£**||**£**||||||**£**||**£**||
|**Income from:**||||||||||||||||||||
|Donations andgrants|2||481,956||15,057|||497,013||289,661||||||8,000||297,661||
|||||||||||||||||||||
|**Total Income**|||481,956||15,057|||497,013||289.661||||||8,000||297,661||
|||||||||||||||||||||
|**Expenditure on:**||||||||||||||||||||
|Raisingfunds|3||5,203||-|||5,203||5,559||||||-||5,559||
|Charitable activities|3||461,084||15,077|||476,161||238,300|||||52,500|||290,800||
|Other|3||26,542||-|||26,542||||6,897|||-|||6,897||
|**Total Expenditure**|||492,829||15,077|||507,906||250,756|||||52,500|||303,256||
|||||||||||||||||||||
|**Net Income/(Deficit)**|||(10,873)|||(20))||(10,893)|||38,905|||(44,500)|||||(5,595)|
|||||||||||||||||||||
|**Net Movement in Funds**||||||||||||||||||||
|Funds brought forward
Net Income|||46,275
(10,873)|||20
(20)|
|46,295
(10,893)|||7,370
38,905|||44,520
(44,500)|||||51,890
(5,595)|
|Funds carried forward|||35,402|||-||35,402|||46,275|||20|||||46,295|
The statement of financial activities includes all gains and losses in the year to 31 March 2023.
All incoming resources and resources expended derive from continuing operations.
7
## **Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Balance Sheet** _**At 31 March 2023**_
||||**2024**|**2024**||**2023**|
|---|---|---|---|---|---|---|
||**Note**||**£**|||**£**|
|**Current Assets**|||||||
|Debtors and Prepayments|4||255,367|||62,444|
|Bank and cash||||13,650||78,316|
||||269,017|||140,760|
|**Creditors:**amounts falling due
within oneyear|5||195,589|||46,485|
|**Net Current Assets**||||73,428||94,275|
||||||||
|**Creditors:**amounts falling due after
one year|6|||38,026||47,980|
||||||||
|**Net Assets**||||35,402||46,295|
||||||||
|**Funds**|||||||
|Unrestricted|7|||35,402||46,275|
|Restricted|7|||-||20|
|||||35,402||46,295|
||||||||
Approved by the Trustees on (date)
and signed on its behalf by:
20/12/2024
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**Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Notes to the Financial Statements**
## **1. Accounting Policies**
## **(a) Basis of Preparation**
The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP FRS 102) and Financial Reporting Standard 102, the reporting standard applicable in the UK and Republic of Ireland (FRS102).
The financial statements are prepared in £ sterling which is the functional currency of the charity, rounded to the nearest £.
## **(b) Income**
All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income, there is a probability of receipt and the amount receivable can be quantified with reasonable accuracy.
## **(c ) Expenditure**
Expenditure is recognized on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered.
Governance costs comprise those costs associated with meeting the constitutional and statutory requirements of the charity
## **(d ) Debtors**
Debtors are recognized at the settlement amount due. Prepayments are values at the amount prepaid.
## **(e ) Cash**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less.
## **(f) Creditors and Provisions**
Creditors and provisions are recognized 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.
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## **Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Notes to the Financial Statements (continued)**
## **2. Income from Donations and Grants**
||**Unrestricted**|**Restricted**|**Total**|**Unrestricted**|**Restricted**|**Total**|
|---|---|---|---|---|---|---|
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Donations|481,956||481,956|289,661||289,661|
|Aberdeen Council Grant||217|217||8,000|8,000|
|Creative Scotland Grant||14,840|14,840||||
|Total|
481,956|15,057|497,013|289,661|8,000|297,661|
## **3. Expenditure Analysis**
|||**Unrestricted**|**Unrestricted**|**Unrestricted**|**Unrestricted**|**Restricted**|**Restricted**||||**Total**|**Unrestricted**|**Unrestricted**|**Unrestricted**|**Restricted**|**Restricted**|||**Total**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||**2024**||**2024**||||**2024**|||**2023**||**2023**|||**2023**|
||||||**£**||**£**||||**£**|||**£**||**£**|||**£**|
|**Raising Funds:**||||||||||||||||||||
|Fund-raising
Marketing|||
||2,250
2,953
5,203||-
-||||2,250
2,953
5,203||
|3,559
2,000
5,559||-
-|||3,559
2,000
5,559|
|||||||||||||||||||||
|**Charitable Activities:**||||||||||||||||||||
|Health & Safety|||14,117||||||14,117|||||2,209|||||2,209|
|Rates/Bid Levy|||140,736||||||140,736||||113,635|||||113,635||
|Telephone|||1,076||||||1,076||||629|||||629||
|SalaryCosts|||291,563||||7,674||299,237||||111,431|||14,520||125,951||
|More Than Space
Project|||||||7,403||7,403|||||||37,980||37,980||
|Door Open Day|||1,296||||||1,296|||||||||||
|Artist Payment|||||||||-||||328|||||328||
|Travel & Subsistence|||12,296||||||12,296||||10,068|||||10,068||
||||461,084||||15,077||476,161||||238,300|||52,500||290,800||
|**Other Support Costs:**||||||||||||||||||||
|Insurance||||421|||-|||421||||392||-|||392|
|Website IT||||8,591||||||8,591||||839|||||839|
|Other||||13,068||||||13,068||||4,502|||||4,502|
|Loan Interest||||4,462||||||4,462||||1,164|||||1,164|
|||||26,542|||-|||26,542||||6,897||-|||6,897|
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**Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Notes to the Financial Statements (continued)**
## **4. Debtors**
|||**2024**|**2024**|||**2023**|
|---|---|---|---|---|---|---|
|||**£**||||**£**|
|Accounts Receivable||245,246||||54,037|
|Prepayments|||1,714||||
|Accrued Income|||8,407|||8,407|
|||255,367||||62,444|
## **5. Creditors**
|||**2024**||**2023**|
|---|---|---|---|---|
|||**£**||**£**|
|Accruals Local AuthorityRates||176,984||36,992|
|Accounts Payable||570||570|
|PAYE/NI||7,714||5,714|
|Pension||1,714||1,189|
|SIS loan||8,607||2,020|
|||195,589||46,485|
## **6. Creditors falling more than one year**
|||**2024**||**2023**|
|---|---|---|---|---|
|||**£**||**£**|
|SIS Loan||38,026||47,980|
||||||
||||||
||||||
||||||
|||38,026||47,980|
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## **Artists’ Spaces SCIO Report and Accounts Year to 31 March 2024**
## **Notes to the Financial Statements (continued)**
## **7. Funds**
||**At 31 March**
**2023**|**At 31 March**
**2023**|**Income 2024**|**Income 2024**|**Expenditure**
**2024**|**At 31 March**
**2024**|
|---|---|---|---|---|---|---|
|||**£**||**£**|**£**|**£**|
|**Restricted Funds:**|||||||
|Creative Scotland Grant||20||14,840|14,860|-|
|Aberdeen Council Grant||||217|217|-|
|**Total Restricted Funds**||20||15,057|15,077|-|
||||||||
|**Unrestricted Funds**||46,275||531,276|542,149|35,402|
|||46,295||546,333|557,226|35,402|
12