Company registration number 02836855 (England & Wales) Charlty reglstratlon number 1025337 LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 BRENNOCKS Chartered Secretarles Incorporated Flnanclal Accountants Lyneholm Roweltown Carllsle Cumbrla CA6 6LH
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE CONTENTS Referen and administrative details of the charity. its trustees and advlsers Trustses, annual report (incorporatlng the Dlrectors. report) Independent Examiner's report 10 Statent of financial attivities Balance sheec 12,13 Notes to the financlal sratsments 1421
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE LEGAL AND ADMINISTRATIVE INFORMATION Tnistees: Jonathan Paul ARCHARD (aPpnted 19 February 2024) Teresa Maria BUDWORTH (appolnted 15 August 2024) Jennrfer DRANTfEL Raimi GBADAMOSI (resigned 30 August 2023) Catharine Elizabeth HODGES (appointed 21 FebnRry 2024) Michelle Anna-maria KAMBASHA (appointed 5 June 2024> Samuel JAVID (resigned 31 Pnuary 2024) Catherine Jeanne LOUCH (appoinced 20 June 2024) YULU Jean MCMEAKIN {appointrd 19 February 2024) Hema MISTRY (resigned 4 February 2024) Jemima Amy PRATh (resigned 20 July 2023) Amber SHILCOCK (resigned 20 July 2023) Lucy STEVENS (resigned 20 July 2023) Sylvia Marret WRIGHT (appointed I l June 2024) Company reglstratlon number 02836855 England & Wales Charlty reglstratlon number 1025337 England & Wales Reglstered offi 50 St George Street Leicester LEI IQG Pdge I
LEICESTER PRINTWORKSHOP sfuDIOS AND RESOURCE LEGAL AND ADMINi¥fRATIVE INFORMATION (continued) IndePdlt Examiner. Paul Brennock FCG FIPA LynetrK>lm Roweltown Carlisle CA6 6LH Bankers: Uoyds Bank PLC 7 High Street LEI 9FS
LEICESTER PRINTWORKSHOP STUDIOS AND RESOURCE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees (who are also direttors of the charity f¢x the purposes of the Companies Act) present tt1r annual report together with the financial sutemenrs for the year ended 31 March 2024. The trustees confimi that the annual repon and financial soremenrs of the company comply with the current statutory requirements of the company's governing document and the provisions of the Charities Statement of Recornmded PrnCt1 (SORP) (FRS 102), second editio October 2019. The Purpose of Leicester lTrt Workshop Studio and Resour Leicester Print Workshop (LPW) is the Midlands centre of extrllence for fine art printmakin& We are ac forefront of printmakÉng prdaice and we ensure it continues ro be a thriving contemporary art form. We nurture talent and supporr creative prnctitioners to develop their skills and achieve their creative ambitions. Our larg< open access studio is in a RIBA awar¥l-winning buildin& providing specialist frdcilities for stone and platr lithogrnth, erthin& engrdvln& rellef, letterwes& ScrPrintin& and artist studios. Open to Mefflb it is used by people fr around the world and around the corner. arKI sworted by a community of artists to thrive arKI grow. LPW aims to connecc and align with our local context of inner city Leicester. as a culturnl organlsatlon whith enables positive social changes for communities across the Llty. We are commitced to link our work to issues that are rooted in our local conrexc of a culturally diverse and post-induscriaj city. while invi conversations from other disciplines and geographie& LPW was first established in 1986 and became a regstered tharity in 1993. In 2015 it moved to its new RIBA award-winning building situated in Leicester's Culturdl Quarter. where alongside the scudio spacq it befits from a gallery. shoN education spac4 framing room and I I pern)anent artist swdios. Lelcester Int Workdw) Is an Arts Council National Portfolk OrnISatIOn (NPO). Adult and Youth Educati Programme LPW Is committed to expanding arrfj diversifying models of art education through printmaklng and to become a substantial centre of altffnative education outside of traditional learning establishments. LPW delivws an aduk and youth course programrne which encourages an expanded noti¢Jn of printmaking at the intersection of multiple disciplin4 for a wide range of abilities and intrresr&
LEICESTER PRINT WORKSHOP sfuDIOS AND RESOURCE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Publlc Programme We have devel¢)ped meaningful parcnerships with a wide range of events and festifdls. regional sthool& communlry group& librarles art organisatlons and colleges for our extenslve outreach programm whlch has dlversified and widened our reach and taken printmaking into multiple and div community and educational setrings. Studlo Membership & Work Space Provider Leicestsr Prlnt Workshop Is home to around 2CK) artist members. Members pay annual subscrlptlons to access the fully equlpped studio during i(s opening hours. The studio is staffed by expert technlcians and following an induccion. membership is open w artis(s and prin(makers of any abllity. We a150 provlde affordable I I scudlo spaces to artlsrs working in dlfferent dlsclpllnes In our clty centre locatlon. LPW Obleccives Operate a srate of the art multifunttional open access print studio to provide printmakers wlth accesslble space, equlpment and knowledge to create a thriving community of artist printmakers whlch encourages collabordtlon and sharing of ideas where you are Insplred and supporred to make, no matter age or abllity. Be a leadlng Internatlonal plarform for experiffntal. socially-driven printmaking education and research and provide opportunities arKI professional support to a large numb¥ of creatlve practltloners at all sttges In their career5 Prograrnme a comprehensive print education progfdmme to provlde a broad and diverse placforn) to learn prinunaking skills at all levels from tasters and Intros to advanced summer schools Develop meanlngful parm3hlps wlth a wlde range of regional sthools, cornnnIty groups. Ilbrarles art ¢XKdnisatlons arKI colleges f¢x our ou(reath progrdmme to dfverslfy and widen our reach and take printmaking into multiple diverse community and educational settlngs The Intee$ have pald due regard to the guidance issued by the Chariry Commi$slon in deciding what activitles the charfty sIMxJld underrak&
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE TRUSTEES. ANNUAL REPORT ONCORPORATING THE DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Strategies for Achieving the Ol"ettives LPW operates wtthin a dear gOVernar and managem£ framework whith creatrs a positi profiCit and robust working environMt for our small. skilled and dedicated oam and engaged Board of Trus% LPW is committed to ensuring tTrHt sraffing levels are commensurate with its aims and objettiv4 and that staff share the values of the organisation. ouclined in cwr core Yalue& Athievements and Performance The 2023-24 finanoal year marks the b"nnIng of a r*w phase in our Arts Council Engknd National Porrfolio funding (202>26). This vital support aubles us not only to sustain our ongoing work buc also to grow arKI expand our iniriarives. We have made good progress towards the target set out in our NPO plan& While we are adUallY recovering from the impact of COVID-19. the acrivity levels at LPW have n¢X yet returned to pre-pandemic level& As a resul4 we made the decision to redu our opening hours from five to f¢Jur days a week This adjustm[ has had a positive outcom& as we have continued to see simllar levels of partlclpatlon and studio usag< with acciviues now more ConC1rated within these hour We successfully introduced two year-long courses as an alternative fom of education, both of whith saw strong enrolment and engagement from partiapant& In additiorn we have continued to explore innoyarive ways to connett with the wider communltles in Leicester. Our focus ha5 been on expanding our outreach beyond the physic21 space of our buildlns worklng In collaboration with key partners across the aty to broaden our impacL We are also excited to welcome new. dwic members to our Ix)ard. following the deparwre of Samuel Javid after over three years of dedicated wvicL His contributions have be greatly appreciated. and we look forward to the fresh perspecoves our new board members will bring to LPWS f(ure.
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Key Highlights from this period: Print Festival Returned For the first time since COVID-19 we hosted our annual Print Festival evenL This open access event was free for all to attend and ve us the chance to showcase printmaking to an engaged audien With free activities and interactive demonstrations throughout the weekend we welcomed vlsltors to learn more about screenprinting, etchin& letterpress kaMIhan lithography and linocuL Woolwith Contemporary Print Fair Demonstration Swdio techniaans and staff attended the Woolwich Contempordry Print Fair for a day of etching demonstrnrions. The ream ralked about everyrhing the workshop has to offer and introduced visitors to the pr¢xess of etching. With example plates on display. the team instruc visitors on the process of inking a Pla and printing using a Rollaco press to hi8hlighi the variety of etthing techniqu including photo erchlng. phoro polymer and hard ground. Pop Up Print Accwiries Throughout the year we hosted and took parr in a number of free drop-in activicie& aimed towards dmili4 the sessions were all free and either took place at the workshop or offsite in the city. For exampl& a group of LPW vOlUner$ joined a number of other ans organisarions on Orton Square In Leicester's Culwral Quarrer combining digiral language with trdditional printmaking techniques to engage local young people in che community to create their own artwork Taking part in these events helps the workshop to promotr printmaking. get the local communiry involved at different levels arKI allows our wonderful voluntrers to develop their skill
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Financial review We have developed diverse income streams in order to manage financial risk and to be resilienc in these thanging times. We have Ydrlous sources of Income: Arts C¢)uncil England National Portfolio Organisation grant of £88.186: Membershlp Fees of £11,974; Hourly Swdio Use £10.255: Artist Studio Holder Rents £19,740; Courses £55,205; Exhibitions and Shop Sales £12.647: Framing £3.173: Events £3,155; Donatlons £1,247: Mixellaneous £668. At 31 March 2024 the free reserrfes of the charlty were £43,098 (2023- £48.113). In addition, the charity held a designated capital fijnd of £570,824 {2023 - £603,578) arising from the improvements undertaken ro the property at St George StreeL Tofal reserve5 of the chariry. including the workshop buildin& were therefore £613.922 (2023 £651,691). We aimed to maintain a resenies level that ensures V can manage cash flow and cope with a drop in incom& the demands of a large project or an unexpected expense, and we seek to hdd a reser¥e of £50,000, which covers the equivalent of three months. operating costs. The trus5 have assessed the major risks to which the charity is exposed, and are satisfied that SYsm$ are in place to micigare exposure to the major risks. Page 7
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE TRUSTEES. ANNUAL REPORT (INCORPORATING THE DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) Structure. governance and management The entky15 a charitable company limlted by guarantee and Is governed by Its Memordndum and Anlcles of Association Incorporared 16 July 1993. company regis¢ration number 02836855. The trustee% who are also the dlreccors for the purwe of company law. and who served durlng the year and up to the date of slgnature of the financlal 5teMentS were: Jonathan Paul ARCHARD Teresa Marla BUDWORTH (appolnted 15 August 2024) JennSfer DRANThEL Ralmi GBADAMOSI (reslgned 30 August 2024) Catharlne Ellzabeth HODGES Mlchelle Anna-marla KAMBASHA (appolnted5 June 2024) Samuel JAVID (resigned 31 January 2024) Catherlne Jeanne LOUCH {appolnted 20 June 2024> YULU Jean MCMEAKIN Hema MISTRY {resi8ned 4 February 2024) Jemlma Amy PRATT (resl8ned 20 July 2023) Amber SHILCOCK (reslgned 20 July 2023> Lucy STEVENS (resigned 20 July 2023) Sylvla Margaret WRIGHT (appointed I l June 2024) The appolntment of trustees Is governed by the Memorandum and Artlcles of Assoclatlon of the company. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarancee to contrlbute £ I In the event of a winding up. Whilsc meeting on a regular basi& the board delegares the day to day running of the Centre to an on-sits dlreceor.
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE TRUSTEES, ANNUAL REPORT ONCORPORATING THE DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED) New truscees receive an induction pack and are invlted to tour the workshop and attend two board meetings before full admisslon. The board augments its qrCerlY meetlng schedule with occasional away days, designed to address key issues and longer orni planning. This report has been prepared having taken adYdntage of the small companles exemption in the Companles Act 2006. The rxuscees, report was approved by the Board of Trustees. Teresa Budworth Tntstee and dlrector Dated: 16 December 2024. Page 9
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE Independent examiner's report to the trustees of Lelcester Print Workshop Studlos and Resource I report to the trustees on my examination of the finanaal StatentS of Leicester Print Workshop Studios and Resource (the charity) for the year ended 31 March 2024. Responslbllitles and basls 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 accordan with the requirements of the Companies Acc 2006 (the 2006 Act). Havlng satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial sratements carried out under section 145 of the Charities Act 2011 (the 201 l Acc). In carrying out my examination I have followed all the applicable Directlons given by the Charity Commission under section 145(5){b) of the 201 I ACL Independent examiner's statement I have completed my examination. I confirni that no MatrS have come to my arn[lon in connecrion with the examination giving me cause to believe thac in any material respecc l accounting records were not kept in respect of the charity as required by seccion 386 of the 2006 "or 2 the financial sratements do not accord with those records: or 3 the financial stamentS do not comply with the accounting requirements of seccion 396 of the 2006 Acr other than any requirement that the accounts gNe a true and fair view which is not a matter considered as part of an independent examination: or 4 the financial statements have noc been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reportlng by chariries applicable ro charities Pparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other Matr5 in connection with the examlnation to which attention should be drawn in chls report In order to enable a proper understanding of the financial statements to be reached. Dated 16 December 2024. Paul Brennock FCG FIPA Brennocks Lyneholm, Roweltown Carllsle CA6 6LH Page 10
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE STATEMENT OF FINANCIAL ACTIVITIES (Incorpornting Income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlc ted funds 2024 Total funds 2024 Note Total funds 2023 INCOMING RESOURCES Donations and legacies 89,433 97,229 Charitable acciviues 116.149 84,186 Investments Is 68 Other income 653 14,120 TOTAL INCOMING RESOURCES 206,250 195.603 RESOURCES EXPENDED Charitable activities 244,019 267,415 TOTAL RESOURCES EXPENDED 244.019 267.415 MOVEMENT IN TOTAL FUNDS- NET INCOMEI{EXPENDITURE FOR THE YEAR (37,769) (71.812) Toul funds at l April 2023 651,691 723,503 TOTAL FUNDS AT 31 MARCH 2024 613,922 651.091 The notes on pages 14 to 21 form parc of these financial statemenrs.
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE BALANCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 FIXED ASSETS Tanglble assecs 10. 588.408 608,473 CURRENT ASSETS Stocks 1,500 i 0,000 Debrors 12. 22,024 20,462 Cash at bank and in hand 45,442 53.883 CREDITORS: amounts falling due wlthln one ear 13. (43,452) (41,127) NET CURRENT ASSETS 25.514 43,218 TOTAL ASSETS LESS CURRENT LIABILITIES 613.922 651,691 CHARITY FUNDS Deslgnated funds (Big Move) 14. 570.824 603,578 Generdl unrescricced funds 14. 43,098 48.113 TOTAL FUNDS 613.922 651,691 The trustees consider rhar the company is enticled to exemption from the requlrernent to have an audlt under the provlslons of sectlon 477 of the Companles Act 2006 {"the Act.) and members have not requlred the company to obtain an audit for the year in quesrion under sectlon 476 of the ACL The Balance Steet is continued on page 13. Page 12
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE BALANCE SHEET AS AT 31 MARCH 2024 (CONTINUED) The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respett to accounting records and for preparing financial statements which give a true and fair view of the state of atrairs of the company as at 31 March 2023 and of its net incomlng resources for the year In accordarKe with the requirements of sections 394 and 395 of the Act arKI which otherwise comply with requirements of the Companies Att 2006 relaring to financial ststemens so far as appllcable to the compary. The financial statsments Imve been prepared in accordance with the provtsions applicable to small companies within Pdrt I S of the Companies Act 2006 and in accordan wich the FirAncial Reporting Standard for Smaller &Kities (effective April 2008). The flrAnclal statements were approved by trustees on 16 December 2024 and signed on their bePAlf by. Teresa Budworth (Dirertorffntstee) Page 13
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES Charlty inforniation Leicester Print Workshop Sojdios arKI Resource is a 1vI company limited by guarantee Incorporated in England and Wales. The registered office is 50 Sr George StreeL Leicester, LE I I QG. l. l Accounting convention The finanoal statsmenrs have prepared in accordance with the tharity's Memorandum and Arrides of Association. the Companies Act 2(Y)6 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to dllrities preparing their accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (published in October 2019). The charity is a Public Benefit Entity as defined by FRS 102. The tharicy has taken advantage of the provisions in the SORP for charittes applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flow& The financial soremenrs a prepared in Pounds Sterlin& which is the functional currency of the charity. Monetary amounts in these financial s(atrments are rounded to the nearest pound. The financial statements have been prepared urKler the hiscorical CO convwtion. The principal accounting poliaes adopted are set c>ut below. 1.2 Golng concern At the time of approving the financial statements. the trustees have a reasonable expectation that the tharity has adequa resources to continue in operational exiscence for the foreseeable futu Thus the truscees continue to adopt the going cOnrn basis of accounting in preparing the financial statemen 1.3 Charltable funds Unrestricced funds are ayailable for use at discretion of the (rustees in fiJrtherdn of their charitable objectives. Designated funds comprise unrestr1tt funds that have been set aside by the trustees for particular purpose& Restricted funds are subject to specific conditions by donors as to how they may be used. The pwposes and uses of the restricted funds are set (yjt in the notes ro the financial stazernents. 1.4 Income Income Is recognised when the tharity is legally enticled ro it after any perforniance conditions have been mel the amounts can be measured reliabty. and it is probable that income will be received. Cash donations are recognised on receipL Othw donations are recognised once the charity has been notified of the donation. unless performance condicN)ns require deferral of the amounL Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Page 14
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) Gifts in kind for distribution a included at valuation and recognised as income when they are dlstributed to projects. Donated facilities are included at the value ro the chariry where this can be quantified and a third party is bearing the COSL No amounts are included in the financ5al staTrments for services donated by volunreers. 1.5 Expendlture Expenditure Is included in the Stat&nenc of Financlal Actlvities on an accruals basis. inclusive of any VAT which cannot be recovered. Charltable expenditure comprlses chose cos¢s Sncurred by the charity on the delivery of its actlvltSes and servlces for its beneficlarle& It Includes both costs that can be allocated to such actSvltles, and those cott5 of an indirect nature necessary to support them based upon elther time spent on the actual actlvitles or usage. 1.6 Tanglble flxed assets Tanglble fixed asseu are InitlalSy measured ac cost and subsequently measured ar cost or valuatlon, net of depreclatlon and any impairment losses. Depreclatlon is recognised so as to write off the cost or Yaluatlon of assets less thelr re51dual values over thelr useful Ilves on the followlng bases: Freehold land and buildings Straight line over fifty years Fixtures and fittlngs l 0% per annum on a straight line ba51s Plant & Machinery l 0% on a straSght1Sne basis Computers 25% per annum on a stralght Ilne basls The gain or loss arising on the disposal of an asset Is determined as the difference becween the sale proceeds and the carrying value of the asseL and Is recognSsed in the statement of financSal attivities. 1.7 Impalrment of fixed assets At each reportlng end date. the charlty revlews the carrying amounts of Its tangible assets to determlne whether there Ss any Sndication that those assets have suffered an Impairment loss. If any such Indlcatlon ex15 the recoverable amount of the asset is estimated in order to determtne the excent of the impairment loss (rf any). 1.8 Stocks Stocks are staled at the lower of cosr and estimated selling price less costs to complete and sell. Cost comprlses direct materials and. where applicable. direct labour costs and those overheads that have been Incurred In bringing the stocks co their present location and condition. Items held for distribution ac no or nominal consideration are measured the lower of replacement cost and COSLNe¢ realisable Yalue Is the esclma*d selling price less all esrimated costs of completion and costs to be incurred in marketlng. selllng and distribution. 1.9 Cash and cash equivalents Cash and cash equiyalents include cash in hand. deposl¢s held at call with banks. other shorc-terni liquld Investments with original marurities of three months or les& and bank OYerdrnf Bank overdrafts are shown within borrowlngs In current liabilities. Page 15
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) l. l O Flnanclal Instruments The tharity has elecced to appty the provisions of SeccK)n I I 'Baslc h'nandal Instruments. and Sectlon 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instrumenrs. Flnanclal Instrumencs are recognised in the charicy's balan sheet when the tharity becomes party to the contractual provisions of the insrrumenL Flnancial asse¢s and liabilities are offseL with the net amounts presented in the finandal statements. when there is a legalty enforceable rl8ht 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 simulr2r*ousty. Baslc finandal assets Basic financial asse which include debrors and cash and bank balance& are Initially measured ac transaction price induding transaction costs and are subsequently carried at amonlsed cost uslng the effective Interest method unless the arrangemeni constitu$ a financing rransattion. where the trdnsaction is measured at the presenc Wdlue of the future receipcs discountrd at a market rnte of SnteresL Financial assets classified as receivable within one year are not amortised. Baslc flnonclal Ilabllftles Baslc flnanclal liabilitie& Including creditors and bank loans are initially recognised at transaccion prlce unless the arrnngement constitutes a financing (ransaccion. where the debt instrument Is measured at the present alue of the future paymen(s diScound at a market rate of interesL Flnancial Ilabilitles dassified as payable within one year are not amortised. Debt instruments are subsequendy carried at anrtIsed COSL uslng the effective interest rate method. Trdde creditors are oblirdtions to pay for goods or services rhat have been acquired In the ordinary course of operatlons from suppliers. Amounrs payable are classified as current liabilities rf payment Is due within one year or less. If noL they are presenced as non-current liabilities. Trnde creditors are recognised Inltially at transattion price and subsequently measured at amortised cost using the effecrive Interest method. Derecognftlon of financlal Ilabllltles Flnancial liabilities are derecognised when the chariry's conrracwal obligations expire or are dlscharged or cancelled. 1.1 l Employee benefits The cosc of any unused holiday entltlement is recognised in the pen'od in which the employee's services are received. Tern)InacSon benefirs are recognised immediately as an expense when the charity is demonstrably commitred to terniinare the employment of an employee or ro provide termination befits. 1.12 Retirement benefits Payments to defined conrribution retirement benefit schemes are tharged as an expense as they fall Page 16
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued) 2. DONATIONS AND LEGACIES Unrestri rted funds 2024 Total funds 2024 Total fvnds 2023 Donations and gifts Grants receivable for core activities 1,247 1,247 25.646 88.186 88.186 71583 89.433 89.433 97229 Grants receivable for core activities Arts Council England 88.186 88.186 71.583 3. CHARITABLE ACTIVITIES Unrestr Total funds 2024 funds 2024 Total fvnds 2023 Operating activities 116.149 116,149 84.186 16.149 116,149 84.186 4. INVESTMENTS Total 2024 Totol 2023 Interest receivable 15 68 S. OTHER INCOME Total 2024 Total 2023 Other 653 14.120 653 14.120 Page 17
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued 6. CHARITABLE ACTIVITIES General fund 2024 Big Move 2024 Total 2024 Total 2023 Dirert proiect costs and materials Purchases 57.948 57.948 16,010 Projecc expendicure and other direct cosrs 2.927 2.927 26.100 Support costs Staff costs 105,550 105.550 20.065 147.460 Depreciation Trnining and lecwres Marketing Premises cosrs 16.377 17.571 2,693 5.572 5.572 29.111 5.617 29.111 11.273 Insurances 5.617 5,813 Telephone and internet costs Printing, posrage and srarionery Sundry expenses Legal and professional Independent examiner's fees Bank charges 6,248 6.248 1.253 5.611 1.253 l.S84 2.608 1.584 28.828 1608 682 5.411 125 4.708 125 666 227,642 16.377 244.019 267.415 Page 18
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued TRUSTEES Durlng rhe year no trustee receNed any remunerdtion {2023: £nil) During the year no trusree recetved any reimbursement of expenses (2023: £nll) 9. EMPLOYEES The average monthly number of employtts dur6ng the y&v was: Total 2024 Total 2023 Dlrert charltable expendlture and admlnlstratlon Trustees and dirertors 13 15 Employment costs Total 2024 Totol 2023 Provlslon of support servlces and comrnunlty develo ment Wages and salarles Soclal securlty costs Other penslon costs 88.239 133,943 5.820 13517 105.550 147.460 There were no employees whose annual remuneration was £60,000 or more. Page 19
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES QN THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued 10. TANGIBLE FIXED ASSETS Freehold knd and buildln8S Fixtures & fittin Plant & 14achinery Computer Total £ Cost At l April 2023 Additions 712,768 40.759 2.500 8.377 764.404 At 31 March 2024 712.768 40.759 2.51)0 8,377 764.404 Depreclatlon and impairnient At l April 2023 Depreciation tharged in the year At 31 Marth 2024 113.374 35.414 250 6.893 155.931 14.255 4.076 250 1,484 8.377 20.065 127.629 39.490 500 175.996 Carrying amount At 31 Marth 2024 585.139 1,269 2.000 588,408 At 31 March 2023 599.394 5.345 2.250 1.484 608.473 I I. STOCKS 2024 Totol 2023 Raw materials and consumables 1.500 10.000 12. DEBTORS 2024 2023 Amounts falling due withln one year 22.024 20.462 Page 20
LEICESTER PRINT WORKSHOP STUDIOS AND RESOURCE NOTES ON THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (continued 13. CREDITORS: AMOUTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other taxation and social security Trade creditors 6,416 6,416 30,064 29.726 Other creditors 3,072 3,035 Accruals and deferred income 3.900 1.950 43,452 41.127 14. FUNDS MOVEMENT AND ANALYSIS Brought forward Incoming resources Resources expended Carried fonvard Unrestricted funds General funds Unrestricted funds Desi nated funds Restricted funds Othei- re5tricced funds To1 funds 48.113 206.250 (211.265) 43,098 603,578 (32,754) 570,824 651,691 206.250 244.019 613,922 The income funds of the charicy include the following designated funds which have been set aside out of unrestricted funds for specific pui"poses. Designated funds represent Ihose sums held within unrestricted funds which have been identified by rhe rrusrees for specific fuiure purposes. Contained therein are monies set aside for che Big Move. The amounE shown for resources expended in relaiion to designated funds for 2024 includes an amouni of £16.377 omitted from the funds movement and analysis for 2023. 15. RELATED PARTY TRANSACTIONS There were no related party transactions during (he year (2023 - none). Page21