Charity registration number 1196484
Company registration number 13114792 (England and Wales)
OPEN HAND OPEN SPACE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
OPEN HAND OPEN SPACE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr S Stead (vice-chair)
Mr J Percy
Ms S Clausen (chair)
Mr A Morris
Mr P Nikoloski
Mr R Stainthorp
Charity number (England and Wales)
1196484
Company number
13114792
Registered office
571 Oxford Road
Reading
Berkshire
RG30 1HL
Independent examiner
Kirk Rice LLP
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
OPEN HAND OPEN SPACE LIMITED
CONTENTS
Page
Trustees' report
1 - 3
Independent examiner's report
4
Statement of financial activities
5
Balance sheet
6
Notes to the financial statements
7 - 13
OPEN HAND OPEN SPACE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The trustees present their annual report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake in pursuit if the charity's objects, which are:

(i) to advance the arts for the public benefit through the promotion of contemporary art, especially visual art;

(ii) advancement of public education in the understanding, appreciation, production and practice of contemporary art; and

(iii) the relief of poor artists through the provision of affordable workspace, studio facilities and artistic advice

The charitable objects are fulfilled by two main areas of activity, which take place within Brock Keep, a grade II listed building owned by Reading Borough Council. Although responsibility for the fabric of the building remains with the landlord, OHOS uses the building to provide affordable artists studios and to operate a public contemporary art gallery, five seven one Oxford Road Gallery.

Activities

Exhibitions programme

From January to February, OHOS presented a group exhibition BIKOHE4KO Co., Tele Transfer, Donate Shop by circulation.of.infernation, Situational Flower Beds, featuring artists Dariia Chechushkova, Alastair Fraser, Georgy Gogatadze, Lesia Gutgarts, Oleksandr Halishchuk, Yanar Kamila, Fedir Khorkov, Hedy Leung, Yevheniia Maior, Timothy Maxymenko, Olenka Naumenko, Anna Nikityuk, Kseniia Shcherbakova, Leo Trotsenko, Serhii Syliaev, and Tamara Turliun.

In March, we presented an exhibition of paintings and drawings by Leah Stewart.

In April, we hosted a group exhibition organised by Charles Wong, featuring works by Mia Baraka, Ivan TL Chan, Chantelle Chong, Ken Chung, Amelia Akiko Frank, Jimmi Wing Ka Ho, Jiaqi Lyu, Tiyana A. Mitchell, Dennis Ngan, Anais Öst, and Wenxuan Wang.

In May, we held Watching the Keep, Walking the Edge: Exploring Reading, a public event bringing together film, history, and artistic practice. Contributors included filmmaker Jane Glennie, historian Chris Impey, and artists Peter Driver and Geoff Sawers, offering multiple perspectives on Reading’s changing environment.

In June, we presented an exhibition by Jason Kwong and Yingying Zheng.

From July to August, we held Antarctica – Shall we say the walk is cancelled?, a group exhibition accompanied by a community walk event.

In September, OHOS participated in the national Heritage Open Days programme, welcoming members of the public. Studios were open and work by OHOS artists was on display throughout the building.

In November and December, we hosted BINGO, a group exhibition and community event organised by The Engine Room. During this period, we also established regular engagement with The Engine Room, who began using the gallery space on a weekly basis for workshop activities. This has created a consistent community presence within OHOS and contributed to widening access to the space, supporting participation and engagement with local groups who may not otherwise access contemporary art provision.

OPEN HAND OPEN SPACE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
Achievements and performance
Significant activities and achievements against objectives

The exhibitions and events programme attracted over 500 visitors during the year, many of whom were first-time visitors to OHOS.

OHOS continues to develop as a centre for contemporary art, supporting artists in the development of their practices while contributing to the cultural life of Reading and the wider region. Artists associated with OHOS have continued to present work in exhibitions nationally and internationally.

Financial review
Reserves policy

It is the policy of the charity that unrestricted funds not designated for a specific purpose should be maintained at a level equivalent to at least one year’s typical expenditure. The trustees consider that this level of reserves will ensure continuity of activities in the event of a significant reduction in income, while allowing time to secure additional funding. This level of reserves has been maintained throughout the year.

The trustees are satisfied that the accounts reflect a sound financial position, with an increase in assets over the reporting period.

The company’s policy is to follow the CBI Prompt Payment Code.

Specifically, the company aims to:

- agree payment terms with suppliers at the outset of each transaction;

- ensure that suppliers are aware of these terms through contractual agreements; and

- meet all contractual and legal payment obligations in a timely manner

Structure, governance and management

The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr S Stead (vice-chair)
Mr J Percy
Ms S Clausen (chair)
Mr A Morris
Mr P Nikoloski
Mr R Stainthorp
Recruitment and appointment of trustees

Trustees that were due to retire at the AGM in 2024, were reappointed except for Dr Ingrid Jensen who chose to stand down definitively as a trustee. The trustees have embarked upon an open recruitment process to seek new trustees, this has been delayed by the uncertainty of the future presence of OHOS at the current location as Reading Borough Council look to sell Brock Keep.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

OPEN HAND OPEN SPACE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
Other matters

Following the submission of our cultural bid to Reading Borough Council, we launched a petition on Change.org, which gathered over 2,500 signatures. The petition was formally presented at a Council meeting. While the Council acknowledged the value of our work and expressed support in principle, no further engagement followed during the year.

We engaged local Member of Parliament Olivia Bailey, who visited OHOS and confirmed her support for the organisation.

Despite repeated attempts to seek dialogue with Reading Borough Council, communication remained limited. In July 2025, we were informed that the proposed sale of the building had been postponed. No further updates or engagement were received during the remainder of the year.

Contingency Planning

The trustees are confident that, should the proposed sale proceed and the charity lose access to its current premises, the charity would continue to operate and fulfil its charitable objectives while actively seeking alternative accommodation.

The trustees have reviewed the charity's financial position and are satisfied that existing reserves are sufficient to support ongoing operations during any transitional period. This would remain the case even if income were limited to associate membership fees.

In addition, the trustees believe that securing alternative premises would enable the charity to resume its full range of activities and associated income-generating opportunities. Accordingly, the trustees consider the charity to be well placed to manage this risk and continue operating effectively.

We continued to strengthen partnerships with local and regional organisations, including The Engine Room, Jelly, Reading International, and Reading Hong Kongers CIC, expanding the cultural and community reach of the Keep.

All work supporting the development and day-to-day operation of the charity was undertaken by trustees and members on a voluntary basis.

The trustees' r eport was approved by the Board of Trustees.

Ms S Clausen (chair)
Trustee
19 June 2026
OPEN HAND OPEN SPACE LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF OPEN HAND OPEN SPACE LIMITED
- 4 -

I report to the trustees on my examination of the financial statements of Open Hand Open Space Limited (the charity) for the year ended 31 December 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr GMD Jennings FCCA CTA
Kirk Rice LLP
The Courtyard
High Street
Ascot
Berkshire
SL5 7HP
Dated: 19 June 2026
OPEN HAND OPEN SPACE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2025
2025
2025
2024
2024
2024
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
391
-
391
757
-
757
Charitable activities
3
12,550
-
12,550
13,011
-
13,011
Investments
4
510
-
510
463
-
463
Total income
13,451
-
13,451
14,231
-
14,231
Expenditure on:
Charitable activities
5
9,786
-
9,786
11,510
-
11,510
Other expenditure
9
33
-
33
50
-
50
Total expenditure
9,819
-
9,819
11,560
-
11,560
Net income and movement in funds
3,632
-
3,632
2,671
-
2,671
Reconciliation of funds:
Fund balances at 1 January 2025
36,749
873
37,622
34,078
873
34,951
Fund balances at 31 December 2025
40,381
873
41,254
36,749
873
37,622

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

OPEN HAND OPEN SPACE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 6 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
281
563
Current assets
Debtors
11
8
-
Cash at bank and in hand
44,426
39,722
44,434
39,722
Creditors: amounts falling due within one year
12
(3,461)
(2,663)
Net current assets
40,973
37,059
Total assets less current liabilities
41,254
37,622
The funds of the charity
Restricted income funds
13
873
873
Unrestricted funds
14
40,381
36,749
41,254
37,622

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 19 June 2026
Mr J Percy
Ms S Clausen (chair)
Trustee
Trustee
Company registration number 13114792 (England and Wales)
OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
1
Accounting policies
Charity information

Open Hand Open Space Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 571 Oxford Road, Reading, Berkshire, RG30 1HL.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 8 -
1.5
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
6
72
Membership fees
385
685
391
757
3
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Art gallery and studio space
Exhibitions, projects and other income
75
442
Studio rent
12,475
12,569
12,550
13,011
4
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
510
463
OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
5
Expenditure on charitable activities
Art gallery and studio space
Art gallery and studio space
2025
2024
£
£
Direct costs
Depreciation and impairment
282
282

Rates and water

1,007
1,077

Repairs and renewals

113
-

Licenses and insurance

298
276

Light and heat

3,151
6,124

Insurance

193
243

Public relations

964
100

Telephone

1,309
1,002

Sundry expenses

17
79

Fire safety

793
173

Accountancy

1,659
2,015
Bad and doubtful debts
-
139
9,786
11,510
Analysis by fund
Unrestricted funds
9,786
11,510
6
Trustees

During the year, studio rents totalling £4,572 (2024 - £5,988) were received from trustees. Such amounts are shown within charitable activities in the statement of financial activities.

No trustee expenses have been incurred in the period.

7
Independent examiner's remuneration
Fees payable to the charity's independent examiners:
2025
2024
£
£
For independent examination services
Independent examination of the financial statements of the charity
600
825
For other services
Other assurance services
915
875
Taxation compliance services
110
110
1,025
985
OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
9
Other expenditure
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Financing costs
33
50
10
Tangible fixed assets
Computers
£
Cost
At 1 January 2025
3,577
At 31 December 2025
3,577
Depreciation and impairment
At 1 January 2025
3,014
Depreciation charged in the year
282
At 31 December 2025
3,296
Carrying amount
At 31 December 2025
281
At 31 December 2024
563
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8
-
OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
12
Creditors: amounts falling due within one year
2025
2024
£
£
Other taxation and social security
569
253
Other creditors
442
600
Accruals and deferred income
2,450
1,810
3,461
2,663
13
Restricted funds

The restricted funds of the charity compri se the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be use d.

At 1 January 2025
At 31 December 2025
£
£
Grant for computer equipment
873
873
Previous year:
At 1 January 2024
At 31 December 2024
£
£
Grant for computer equipment
873
873
14
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include d esignated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January 2025
Incoming resources
Resources expended
At 31 December 2025
£
£
£
£
General funds
36,749
13,451
(9,819)
40,381
Previous year:
At 1 January 2024
Incoming resources
Resources expended
At 31 December 2024
£
£
£
£
General funds
34,078
14,231
(11,560)
36,749
OPEN HAND OPEN SPACE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
15
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
At 31 December 2025:
Tangible assets
281
-
281
Current assets/(liabilities)
40,100
873
40,973
40,381
873
41,254
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 December 2024:
Tangible assets
563
-
563
Current assets/(liabilities)
36,186
873
37,059
36,749
873
37,622
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