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← Northern Print Studio Limited

2024-03-31-accounts

Company Registration Number 02899117 Registered Charity Number 1149872

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE)

REPORT AND ACCOUNTS For the year ending 31 March 2024

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Northern Print Studio Limited Charity registration number 1149872 Company registration number 02899117 Registered office Stepney Bank, Newcastle upon Tyne NE1 2NP

Trustees

For the purposes of the Companies Act 2006, the Board of Trustees is the Board of Directors of the charitable company and is referred to as the Trustees throughout this report.

The Trustees of Northern Print during the period and to the date of signing this report are as follows:

Ms C Atkinson Ms C Bell (Co Chair) Mr P Chapman Dr L Currie Ms J Hale (Co Chair) Mr A Heather Ms M Whewell Appointed 6 June 2023 Ms C Winfield

Independent Examiner

Mr P O’Hara FCA, Chartered Accountant, 26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

The Trustees, who are also Directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Documents

Northern Print is a charitable company limited by guarantee, incorporated on 11 February 1994 and registered as a charity on 22 November 2012.

The charity is controlled by its governing document, its Memorandum & Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act.

The Directors of the company are also Trustees of the charity.

Eligibility for membership of the charity, and membership of the Board of Trustees, is governed by the Articles of Association. There are no restrictions in the governing document on the operation of the charity other than those imposed by general charity law.

Charitable Purpose

The Objects of the charity are to foster awareness, skills, knowledge, understanding and appreciation of the visual arts with specific, but not exclusive, reference to printmaking for the benefit of the general public.

Structure and Governance

The charity currently has a Board of eight non-executive Trustees.

The Board meets a minimum of four times per year. The Board receives written reports and agendas which are circulated in advance of meetings from the Director and meetings are chaired in turn by one of the Co-chairs. The Board has an annual calendar to ensure essential business is discussed and reviewed in a timely basis. Ongoing governance of the charity is maintained through regular meetings with the Director.

Recruitment and Appointment of Board of Trustees

Trustees are elected to the Board based on discussions and recommendations offered by Trustees and outside advisors to the charity, as well as through a range of advertising channels.

Trustee Induction and Training

New Trustees are inducted by the Chairs of the Board and Director and are provided with a range of resources to support their understanding of Northern Print’s activities. The balance of the Board is reviewed on an annual basis with reference to current skills on the Board and the operational needs of the charity. Trustee training is delivered either through external advisors or charity members of staff.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONT’D)

Reserves Policy

The Trustees regularly review the level of reserves the charity holds in line with the guidance issued by the Charity Commission and, having reviewed the risks facing the organisation, seek to maintain a level of reserves which enables the charity to operate effectively with financial stability and the means to fulfil its charitable purpose.

The Trustees aim to hold a level of Unrestricted Reserves which enables the charity to have sufficient working capital to continue to operate and reflects the risks associated with shortfalls in funding, especially withdrawal of support from existing funders.

If alternative sources of funding were not forthcoming or if there was a shortfall in meeting earned income targets, then this amount would provide the means for Northern Print to settle any outstanding contracts, restructure and, in the worst-case scenario, close the company in an orderly manner.

We have reviewed these costs in relation to statutory redundancy pay and the liabilities for our building lease, insurance and services for which we have an annual break clause. The Trustees calculate that this figure would be around £67,500. We would also be liable for dilapidation charges which the Trustees anticipate paying through the sale of remaining assets. The Trustees have set a target level of free Reserves to be at a minimum of £67,500, and ideally in the range of £70,000 to £90,000.

The charity’s total Unrestricted Reserves as at 31 March 2024 are £104,898.

The Trustees previously designated £30,000 towards the development of our new space, and expenditure associated with this has been £8,200 in the year, leaving £21,800 uncommitted at 31 March 2024.

Free Reserves, defined as non-designated Unrestricted Reserves (£83,098) minus the value of Unrestricted Tangible Fixed Assets (£22,312), are therefore £60,786. This is below the target range and Trustees therefore aim, via their budgeting processes, to restore free reserves to within the target range within 2-3 years.

The Reserves Policy was last reviewed and approved on 2 December 2024. The Board regularly reviews the level of reserves that are required to ensure that they are adequate to fulfil our continuing obligations and to allow the organisation to fulfil its charitable purpose.

Grant Making Policy

The charity does not currently engage in grant-making activity, other than the occasional award of small bursaries.

The Contribution of Volunteers

The charity normally works with approximately 25 volunteers per year.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES

Aims & Objectives

Northern Print is an open access printmaking studio and gallery whose mission is "to make a mark on people and places by championing printmaking" supporting artists, encouraging and providing learning and advocacy.

Northern Print is a nationally significant centre for printmaking in the North East of England with an international outlook. It is the only organisation of its kind in the Northern region and has a unique role to play within the cultural infrastructure.

Northern Print was established in 1994 and relocated from North Shields Fish Quay to its current award-winning, purpose-built premises located within the Ouseburn Valley area, close to Newcastle City Centre, in October 2006. The building houses an open access printmaking studio, a gallery, education room and editioning studio.

Significant Activities

The organisation offers a 'one-stop-shop' for printmaking, which enables both professional artists and anyone else interested in printmaking access to facilities and technical support and creates opportunities for making, exhibiting and selling artworks.

Northern Print's core offer currently includes:

Ensuring our Work delivers our Aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES

Public Benefit

The Trustees understand and have discussed the implications of the provisions of the Charities Act 2006, which state that all charities must demonstrate that they are established for public benefit, and have had due regard to the public benefit guidance issued by the Charity Commission. The Trustees believe that the charity meets both of the key principles.

Principle 1 – There must be an identifiable benefit, or benefits

Learning and participation are at the heart of Northern Print, whether in terms of artists furthering their professional practice, or schools, community groups and individuals learning printmaking.

The organisation carries out in-house workshops and activities in its print studio and fully equipped education studio; and an outreach programme for schools and community groups. People of all ages and different backgrounds have the opportunity to find out about printmaking and experience it firsthand. Northern Print has a programme of learning activities and events specifically designed for children and young people, including formal, informal and family focussed workshops, activity delivered in partnership with local schools, teacher training, the Inky Print Club and work experience opportunities.

Principle 2 - Benefit must be to the public, or a section of the public

Northern Print’s work is available to all members of the public.

Risk Management

The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process and confirm that systems have been established to mitigate these risks.

Northern Print has a risk management strategy in place which comprises:

The Trustees are satisfied that appropriate financial systems and controls and employment policies and practices are in place.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES (CONTINUED)

Risk Management (Cont.)

The Trustees consider the key risks facing the charity at this time and the mitigating actions taken to be as follows:

Failure to deliver agreed programme of work either due to inadequate funding income or lack of staff resources:

The Print Space project may not open in the timeframe expected or may not meet earned income targets:

Financial risks arising from failure to secure adequate funding income (from trusts and foundations, earned income, individual giving) given the current economic climate; failure to manage current reserves and the impact of any shortfall on the liquidity of the charity:

Compliance with legislation and regulations appropriate to the activities, size and structure of the charity:

The Trustees also manage the general financial risks arising by ensuring that:

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE

Summary of main achievements of the charity during the year

The organisation continues to deliver a rich, relevant and distinctive programme of activity to longstanding and new audiences.

2023/24 was a positive year for Northern Print with a busy studio and programme of learning and associated activities.

Northern Print continues to receive annual funding from Arts Council England and is proud to be a National Portfolio organisation. 2023/24 was the first year of a new funding round, bringing new expectations and requirements for programming and reporting.

We are grateful for ongoing funding from Newcastle Culture Investment Fund which supports additional activity for Newcastle residents with a particular focus on health and wellbeing. 2023/24 was the second year of a three-year funding programme with all targets met or exceeded.

Northern Print employs 6 part time staff (equating to approximately 4 full time staff). We continue to establish more digital ways of working and have recruited a new part time Office Manager. The staff team work closely with a number of freelance specialists and artist tutors as well as a team of volunteers. All are supported by a skilled and dedicated Board of Trustees. A Reimagine grant from Art Fund has supported the recruitment of a freelance Volunteer Coordinator to embed more volunteers within day-to-day activities.

Earned income from all sources and programming continue to be impacted by the ongoing need for additional space to accommodate the expanding learning programme and access needs of individual groups. We have closely managed the risks and costs surrounding the proposed new build ‘Print Space’ project and concluded that we will pursue the more immediately realisable, affordable and lower risk option of a newly vacant unit on the same site as the existing building. This will be a phased development with activity beginning within the unit at the end of 2024/5.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Our Partners

Artist bursaries and commissions:

Maura Hawkes; Grace Sharp; Yuliia Syrenkova

Primary/ Secondary schools:

Barnard Castle School; Blaydon West Primary; Boldon School; Chillingham Road Primary School; Cleaswell Hill School; Collingwood School and Media Arts College; Duchess Community High School; Duke’s Academy; Framwellgate School Durham; Gosforth Park First School; Hotspur Primary; Prudhoe Community High School; Red House Academy; Westfield School; Whitley Bay High School.

Higher and Further Education:

Newcastle Sixth form College; Newcastle University; Northumbria University.

Community groups and outreach:

Action Foundation; AKT; Beacon House Events; Chilli Studios; Durham County Council Ways to Wellbeing; Friends Action North East; Gateshead Arts Team; International Centre for Life; Natural History Society of Northumberland; Newcastle University Wellbeing Department; Skimstone Arts; The Chev Organisation.

Festivals and Events:

Onsite: The Late Shows; Ouseburn Festival; Ouseburn Open Studios Offsite: Novum Festival; Newcastle Mela; Freeman of Newcastle Festival

Print Studio Partners:

Double Elephant Print Studio, Exeter; Hot Bed Press, Salford.

We are enormously grateful to our funders: Arts Council England; Newcastle Culture investment Fund; Idlewild Trust; Art Fund; National Lottery Heritage Fund as well as the many small donations from our supporters. We would also like to acknowledge Sir James Knott Trust for their funding towards our new learning space.

Printmaking studio at Northern Print

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Artistic Programme

We supported 150 registered studio users during the course of the year –broadly consisting of 40% professional and 60% amateur artists. Participation in programmed activities is open to all studio users regardless of their skills or professional status.

Many professional artists do not have the space, equipment or facilities they need to make work from their home or studio base, so Northern Print is vital to their ability to make and sell work. Studio users have access to the professional printmaking studio at low cost with technical support from our two studio staff members. One-to-one technical support is available to all studio users on a monthly basis – this ensures everyone is capable and confident to use the facilities whilst also supporting the development of new skills. All studio users have access to the studio and expert technical support, can take part in collaborative projects, and to make, show and sell their work. Studio members gain skills, further their working practice, increase their income (through print sales and paid freelance opportunities) and gain benefits across health and wellbeing.

Studio user showing visitors around the printmaking studio

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

“Northern Print not only provides a space to work with high quality equipment that I could not afford, don’t have the space for or could not dispose of chemicals safely, it also has professional expert staff who are on hand with answers to technical questions and go out of their way to find solutions. There is a calm friendly atmosphere where everyone is valued no matter what stage in their print journey. Northern Print has really help with running my own workshops - they have let me borrow and hire equipment and have employed me to run workshops. Without their support I couldn’t do what I do now.”

“I first started teaching printmaking at Northern Print after being a studio member for a number of years. They have continued to ask me to teach and have supported me in doing so to a point where I have become confident to pursue teaching at other venues. This has become an important part of my practice and something that I have found I really love.”

"It's hard to quantify how instrumental Northern Print has been in the development of my creative practice over the years. I have found the time I have spent in the studio invaluable. In the last couple of years, I was able to take on a large-scale commission only because I knew I had the capacity to work to the large scale it required using Northern Print's facilities. I also enjoyed the opportunity to take part in their member's exhibition ('Hadrian's Wall' project in 2022) alongside my printmaking peers both in the region and further afield." Northern Print studio member

Artist Anja Percival printing at Northern Print and (right) one of Anja’s etchings.

The artistic programme created opportunities for artists to develop new work and skills, profile and careers. Printmaking demonstrations, exhibitions and virtual visits provide inspiration, CPD and develop aspirations of all studio users.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Funding from National Heritage Lottery Fund supported the development of new work by studio users focussed on species at risk and endangered craft processes. 45 studio users have taken part in the project with visits to collections and sites in the region to develop their ideas in relation to this important theme.

Three bursaries supported by the Idlewild Trust have supported three young artists to access the facilities, materials and technical support for a 12-month period. This programme was devised to supported graduates who had missed out on learning technical skills within printmaking during the pandemic. An exhibition of their work is planned for 2024/25.

The gallery programme included a range of exhibitions including presenting work from local community groups and our new studios as well as work by established international artists.

The gallery programme included:

Lucy May Schofield demonstrating mokuhanga with a new edition launched at Northern Print.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Learning and Participation

“I’m a veteran of numerous creative workshops. This was, by a country mile, the best. All taking place in an incredibly inspiring and creatively rich environment from the prints on the walls to the exhibitions - This is a very special place. Join a workshop if you can. Today’s experience was life affirming.” Northern Print workshop participant

Wood-engraving class led by Chris Daunt (left) and example prints from screenprinting class (right)

Northern Print has engaged 8158 people of all ages and abilities– in our studio and through outreach activity. We have supported and facilitated individuals, groups and communities to explore their own creativity for little/no cost. Existing and new partnerships and collaborations with both arts and non-arts organisations have enabled us to engage with a broad and diverse range of individuals, community groups and schools, through workshops, exhibitions, open studio activity and inclusion in city-wide events and initiatives.

Northern Print’s learning and participation programme offered opportunities to engage with printmaking at every level. This included children and young people, formal and informal learning, activities for community groups, drop-in activities at festivals and events as well as CPD for professionals and our regular programme of adult learning. Adult classes and courses are delivered across a range of printmaking processes and programmed as weekday, evening and weekend classes to increase access for all. Freelance tutors with specialist skills work alongside the studio staff to deliver the classes programme.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

The breadth and scope of Northern Print’s contribution to teaching and learning over the past 12 months has been extensive, with Primary and Secondary schools, Further Education Colleges and Universities all taking part in printmaking workshops at Northern Print and/or as part of outreach activity. This work has continued to be valuable to teachers and pupils whatever their Ofsted ratings as the effects of the pandemic are still very evident on students’ learning. We have worked with students of all ages, as well as teachers and university lecturers, offering printmaking processes seldom offered within schools and making a significant contribution to improved exam grades for GCSE and A level students. The value of our work is evidenced in the long-term relationships we have with several schools, resulting in meaningful two-way relationships which are making a strong impact on arts and related education.

Adult classes and courses have been delivered, ranging from traditional processes such as screenprinting, letterpress, woodcut & chine colle, mokuhanga and wood engraving, to others exploring using different materials, including printing onto clay tiles and printing using recycled tetrapaks. Classes and courses have taken place in-person, online, and through blended courses, offering the broadest of opportunities for both professional artists, and recreational artists.

Gallery visitor enjoying the wooden type and printmaking activity

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Our work in 2023/24 has engaged with diverse communities through workshops, open studio activities, and hands-on printmaking activities delivered as part of city-wide festivals and events.

Highlights include:

Community workshops have engaged people of all ages and abilities in broad-ranging activities tailored to specific needs, including:

New working relationships. Over the past year we have extended our reach into communities through activity delivered through new working relationships, including work with:

“The workshop was a resounding success, with children demonstrating enthusiasm for the printing activity. They each produced remarkable pieces of art they were proud to showcase. Throughout the session, there was extensive and meaningful discussion among the students as they worked on their prints. The children not only engaged in the practical aspect of printing but also demonstrated a keen interest in the subject matter they were depicting. Their ability to articulate their ideas and thought processes while creating their artwork was commendable.” Teacher, Chillingham Road Primary School.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Family printmaking at Novum Festival

We have delivered more free printmaking activity for people living in areas of Newcastle with the lowest estimated household income (based on ONS statistics). As well as working with specific groups and organisations, we have been able to offer free printmaking activities as part of a range of city-wide events. This has allowed many people to explore their creativity who may not be able to afford to do so in more formal settings.

Health and wellbeing

Our programme of activity makes a strong contribution to health and wellbeing for people through group workshops and inclusive support for individuals. Feedback from across our programme illustrates how health and wellbeing is at the centre of all of our work, through friendly, supporting staff and a welcoming and inclusive environment in which to learn about prints and printmaking. Individuals, groups and organisations have benefited from the sociable and sharing nature of printmaking, with workshops bringing people together.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

We work with a range of people, sometimes organised groups of people sharing particular needs, and sometimes opportunities for different groups and individuals to work alongside each other, which is an area of work we are particularly interested in. We find that bringing disparate people together encourages the breaking down of barriers, with discussion and sharing of work and ideas from people in different circumstances helping to promote tolerance and the understanding of different perspectives. Sharing work made with groups in our gallery and/or online is an important part of our programme and has contributed to our ethos of allowing the same opportunities to both professional and amateur artists.

“There was excellent support throughout with great demonstrations which were easy to follow. There was never too much information. I do plan to join Northern Print because it was such a positive and inclusive experience.”

Print Day in May – a drop-in activity led by Skimstone and Chilli Studios participants

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Studio users are encouraged and supported to feel part of Northern Print and engage with activities within the studio whatever their needs or motivations. We have provided support for individual studio users through one-to-one sessions offering help and specialist advice to enable people to make work. Sessions range from supporting people with health issues and/or disabilities which limit them in terms of making work, to providing a place where people can develop their creativity whilst providing respite from busy lives and responsibilities.

“I am particularly grateful to @northernprint.org.uk for all their help in getting this edition made, in spite of my lack of mobility at the time. It is a brilliant organisation and I have nothing but praise for how they endeavour to enable people to make prints.” Studio user feedback

“Northern Print is my favourite arty place in Newcastle. I’m a doctor (consultant anaesthetist) and I use printing as an antidote to burn out as I work in a paediatric intensive care. Northern Print is a place where I can express my love for learning in a relaxed and fruitful way. The workshops are run in a professional and friendly atmosphere, and I always leave with a smile on my face and nice prints in my bags!” Studio user feedback

Our crowd funded “Making a Mark” programme of community workshops particularly contributed to our health and wellbeing objectives. We engaged 55 people who are vulnerable, experiencing social isolation and/living in some of the most deprived areas of the city. Activities included:

“This is to say a big thank you for a wonderful day on Tuesday. You were so supportive and this helped all the different members of our group to be actively involved in the process of learning to use Letterpress. We really appreciated the day and the work that went into raising the funds so that we could experience what is on offer at Northern Print.” Support worker, Skimstone Arts.

“Our wonderful specialist print workshops with @northernprint.org.uk for the Making a Mark project. This week it is polyester plate lithography. Last week was copper etchings and next Typesetting! Such a fantastic opportunity to learn new technics and skills. All our members are enthused and inspired by it all !” Instagram feedback, Chilli Studios .

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

We delivered a series of workshops for people from Friends Action North East, a charity helping adults with learning disabilities to make and keep friends. Participants explored the theme of objects, friends and loved ones important to them through cyanotype, screenprinting and photography.

Opening for Making a Mark exhibition with cyanotypes made by Friends Action North East.

We delivered a workshop for Newcastle University’s Dept of Wellbeing as part of an activity day for staff to share thoughts about their job roles.

We have continued our relationship with AKT an organisation supporting lgbtq+ young people aged 16-25 years who are facing or experiencing homelessness or living in a hostile environment.

Environmental Sustainability

We review our activities in relation to the impact we have the environment on an ongoing basis, this includes monitoring our CO2 emissions using the toolkit provided by Julie’s Bicycle. We continue to have a strong focus on reduce, reuse, recycle in relation to all printmaking materials and increasingly introduce recycled materials into our classes and workshop activities. Any new materials are assessed for their environmental impact alongside considerations in relation to health and safety. We have been working with Innovation Supernetwork to review our environmental sustainability policy and action plan for working towards net zero. This has been especially pertinent as we develop plans for our new learning space.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT

For the year ended 31 March 2024

ACHIEVEMENTS AND PERFORMANCE (CONTINUED)

Summary of main achievements of the charity during the year (Cont.)

Environmental themes ran through much of our artistic programme. ‘Endless Forms Most Beautiful’ focused on ‘at risk’ species is an example of this with 45 studio users making new work on this theme during the last quarter of 2023/4 to be exhibited in 2024/5 alongside the development of an online teacher’s resource. Nature printing continues to be offered regularly as an activity for all groups of learners.

Studio users visiting the collection from Northumberland Natural History Society at Discovery Museum

Financial Review

The out-turn for the year is an unrestricted deficit of £(4,920) (2023: Deficit £22,024). The deficit will be deducted from Unrestricted Reserves, leaving a balance on Unrestricted Funds at 31 March 2024 of £104,898.

We continue to develop a mixed income stream using Arts Council England’s NPO funding and Newcastle Cultural Investment Fund grants to lever additional grant income and generate earned income. We delivered our first crowdfunded project this year which was successful in demonstrating the level of support Northern Print benefits from, and the positive impact we have on our local community.

Earned income from charitable activities is generated through a range of activities that all contribute to delivering on our mission. These include low-cost access to the studio facilities and materials, fees for classes and courses and the sale of artists’ work. Earned income has grown year-on-year since the pandemic from £57,901 in 2020/21; £71,702 in 2021/22; £57,297 in 2022/23 to £75,515 in 2023/24 – representing 28% of total income for the current year.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

FUTURE PLANS

Our future plans are based upon continuing to be a centre of excellence printmaking, engaging with a wide range of individuals and groups to experience printmaking as practitioners, learners and audiences.

2024/25 marks our 30th anniversary. We will use this as an opportunity to celebrate the impact we have had over the last three decades. This, plus our burgeoning archive of prints has prompted plans to assess our collection and how we can ensure this is available to all for learning, inspiration and enjoyment.

We will continue to develop volunteering roles within Northern Print to increase capacity and range whilst also creating positive experiences for our cohort of volunteers.

Key plan for 2024/25 and beyond is the development of Print Space – a new learning space for printmaking accessible to all our learners. This is a new, dedicated facility immediately adjacent to Northern Print’s existing building providing an inclusive and inspiring learning space, accommodating whole school groups, larger adult groups and provide scope for larger-scale and more ambitious programming.

This will also allow areas of Northern Print’s existing building to return to their original function, create more reliable opening hours for the gallery (currently used for teaching workshops) and a new archive library space.

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NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT For the year ended 31 March 2024

RESPONSIBILITIES OF THE TRUSTEES

The Trustees (who are also the Directors of Northern Print for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees

Carol Bell Chair/Trustee Company Registration Number 02899117

10 December 2024

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INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS ON THE UNAUDITED ACCOUNTS OF NORTHERN PRINT STUDIO LIMITED FOR THE YEAR ENDED 31 MARCH 2024

I hereby report to the Trustees of Northern Print (Charity Registration Number 1149872) on my examination of the accounts for the year ended 31 March 2024 set out on pages 24 to 37.

Responsibilities and Basis of Report

As the charity’s Trustees (and also its Directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner’s Statement

Since the Company’s gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountant in England and Wales, which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods or principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)).

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 accounts to be reached.

Pete O’Hara, FCA, Chartered Accountant Fellow of the Institute of Chartered Accountants in England & Wales

26 La Sagesse, Jesmond, Newcastle upon Tyne NE2 3AF

10 December 2024

23

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income
Income from Investments
2
Income from Grants, Donations &
Legacies
3
Income from Charitable Activities
4
Other Income
5
Total Income
Expenditure
Cost of Raising Funds
6
Expenditure on Charitable
Activities
7
Total Expenditure
Net Income/(Expenditure)
Balance brought forward at 1 April
Balance carried forward at 31
March		 Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
£
£
£
£
347
-
347
99
132,005
41,350
173,355
182,871
75,155
-
75,155
57,297
15,649
-
15,649
16,835
223,156
41,350
264,506
257,102
22,537
-
22,537
23,993
205,539
13,990
219,529
215,267
228,076
13,990
242,066
239,260
(4,920)
27,360
22,440
17,842
109,818
59,953
169,771
151,929
£104,898
£87,313
£192,211
£169,771

The notes on pages 26 to 37 form part of the financial statements.

All of the activities of the company are classed as continuing.

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.

24

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL POSITION/BALANCE SHEET

AS AT 31 MARCH 2024

AS AT 31 MARCH 2024
2024 2023
Notes £ £
Fixed Assets
Tangible Fixed Assets 10 26,865 49,857
Current Assets
Stocks 11 14,130 13,764
Debtors 12 9,820 14,186
Cash At Bank & In Hand 174,663 142,027
198,613 169,977
Creditors – Amounts Falling Due Within 1 Year 13 (20,298) (21,445)
Net Current Assets/(Liabilities) 178,315 148,532
Provision for Liabilities & Charges 14 (12,969) (28,618)
Total Net Assets 15 £192,211 £169,771
Represented by:
Unrestricted Reserves – General 16 83,098 79,818
Unrestricted Reserves - Designated 16 21,800 30,000
Restricted Reserves 16 87,313 59,953
£192,211 £169,771

The notes on pages 26 to 37 form part of the financial statements.

The Trustees are satisfied that for the year ended 31 March 2024 the charity was entitled to exemption under section 477(2) of the Companies Act 2006.

The Trustees also confirm that the Members have not required the charity to obtain an audit in accordance with section 476 of the Companies Act 2006

The Trustees acknowledge their responsibilities for:

(i) ensuring that the charity keeps adequate accounting records which comply with section 386 of the Act, and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the charity.

These financial statements were approved and signed by a Member of the Board of Trustees on 10 December 2024.

Carol Bell Trustee Company Registration Number 02899117

25

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies

Basis of Accounting

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006 and the Statement of Recommended Practice (Charities SORP FRS 102) "Accounting and Reporting by Charities" and the Charities Act 2011.

The financial statements have been prepared on the historical cost basis, modified to include certain financial instruments at fair value.

Advantage has been taken of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a statement of cashflows.

The financial statements are prepared in sterling, which is the functional currency of the charity.

Taxation Status

Northern Print Studio Limited is a Charity registered under the 1960 Charities Act and is accorded exemption from liability to taxation on its income under S505 Income and Corporation Taxes Act 1988.

Going Concern

There are no material uncertainties about the charity's ability to continue.

Income

All income is included in the statement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantified with reasonable accuracy.

The following specific policies are applied to particular categories of income:

26

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies (Continued)

Operating Leases

The charity classifies the lease of certain types of equipment as operating leases as the title to the equipment remains with the lessor. Rental charges are charged against income on a straight-line basis over the period of the lease.

Tangible Fixed Assets and Depreciation

Depreciation is provided on any fixed assets at rates calculated to write off the assets over their remaining useful lives as follows:

Motor Vehicles - 25% straight line on cost
Plant & Machinery - 10% straight line on cost
Fixtures & Fittings - 25% straight line on cost
Long Leasehold - 10% straight line on cost
Property Improvements - 10% straight line on cost

A full year’s depreciation charge is applied in the year of acquisition and no charge is made in the year of disposal.

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial Instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost where there is a material adjustment.

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the purposes of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for specific purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

27

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

1. Accounting Policies (Continued)

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Judgements and Key Sources of Estimation Uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

There are no significant judgements or estimation uncertainty included within the financial statements.

Pensions

Northern Print contributes to a defined contribution pension scheme. Further details can be found in Note 9.

For the defined contribution scheme, the amount charged to the Statement of Financial Activities in respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the Balance Sheet.

Legal Status

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1. The company law members of the charity are the members of its Board of Trustees.

28

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

2. Income from Investments
Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Interest Receivable 347 - 347 99
£347 £- £347 £99
The 2023 total of £99 was wholly attributable to Unrestricted Funds.

3. Income from Grants, Donations & Legacies

Art Fund – Inspiring Printmaking
Arts Council England – National Portfolio
Organisation
Arts Council England - Print Space
Hadrian Trust
Idlewild Trust
Joicey Trust - Core Support
National Lottery Heritage Fund
Newcastle Cultural Investment Fund at the
Community Foundation
Sir James Knott Trust - Print Space
Donations		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
-
25,950
25,950
108,610
-
108,610
108,610
-
-
-
5,090
-
-
-
500
-
4,700
4,700
-
-
-
3,000
-
9,700
9,700
15,000
-
15,000
15,000
-
-
-
50,000
123,610
40,350
163,960
182,200
8,395
1,000
9,395
671
£132,005
£41,350
£173,355
£182,871

Of the 2023 total of £182,871, £127,781 was attributable to Unrestricted Funds and £55,090 to Restricted Funds.

29

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

4. Income from Charitable Activities

Artwork Sales
Studio Sessions, classes and education
Studio Subscriptions
Studio Materials
Other Earned Income		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
22,163
-
22,163
27,730
39,251
-
39,251
18,944
6,428
-
6,428
4,103
6,874
-
6,874
5,938
439
-
439
582
£75,155
£-
£75,155
£57,297

The 2023 total of £57,297 was wholly attributable to Unrestricted Funds

5. Other Income

Museums & Galleries Exhibition Tax Relief
Capital Grant Release		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
-
-
-
1,186
15,649
-
15,649
15,649
£15,649
£-
£15,649
£16,835

The 2023 total of £16,835 was wholly attributable to Unrestricted Funds.

6. Expenditure on Raising Funds

Salaries & On Costs
Fundraising Consultancy
Purchase of Artwork & Materials for Resale		 Unrestricted
Funds
£
Restricted
Funds
£
2024
£
2023
£
9,000
-
9,000
9,000
900
-
900
4,400
12,637
-
12,637
10,593
£22,537
£-
£22,537
£23,993

The 2023 total of £23,993 was wholly attributable to Unrestricted Funds.

30

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

7. Expenditure on Charitable Activities

Direct Costs
Salaries & On Costs
Freelance Tutors & Project Staff
Gallery & Project Expenditure
Advertising & Marketing
Purchases & Studio Materials
Support Costs
Rent & Rates
Freelance/Consultancy Support
Other Premises Costs
Depreciation & Amortisation
Loss on Disposal of Assets
Insurance
Other Administration & Running Costs
Governance Costs
Legal & Professional Fees
Accountancy, Payroll & Independent
Examination
Trustee Meeting Costs		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2024
£
Total
2023
£
103,532
3,545
107,077
104,349
4,544
1,375
5,919
365
10,376
1,900
12,276
22,033
645
-
645
1,844
3,172
-
3,172
1,266
122,269
6,820
129,089
129,857
18,177
-
18,177
18,271
-
-
-
5,975
5,830
1,000
6,830
9,800
17,390
830
18,220
18,408
-
5,090
5,090
-
9,357
-
9,357
8,904
16,973
250
17,223
14,650
68,727
6,170
74,897
76,008
12,839
-
12,839
9,150
2,624
-
2,624
252
80
-
80
-
15,543
-
15,543
9,402
£205,539
£13,990
£219,529
£215,267

Of the 2023 total of £215,267, £200,043 was attributable to Unrestricted Funds and £15,224 to Restricted Funds.

31

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

8. Net Income/(Expenditure)

Net income/(expenditure) is stated after charging/(crediting):
Independent Examiner’s Fees – current year
Independent Examiner – Other Services
Depreciation of owned Fixed Assets
9.
Staff Costs & Trustees’ Remuneration
Gross Salary Costs
Employer’s National Insurance
Employer’s Pension Contributions		 2024
£
2023
£
1,500
1,500
800
1,050
18,220
18,408
2024
£
2023
£
110,209
107,518
3,622
3,715
2,246
2,116
£116,077
£113,349

No employee received remuneration of more than £60,000 during the year (2023 - Nil).

The charity defines Key Management Personnel as the Trustees and the members of the Senior Management Team. Remuneration of £55,492 (2023: £42,098), was paid by the charity during the year to Key Management Personnel.

The average number of staff employed during the year, calculated as full-time equivalents, was as follows:

2024 2023
No No
Artistic Production and Support 4 4

Pension benefits are provided through a Group Personal Pension Scheme, which is a defined contribution scheme. The assets of the scheme are held separately from those of the company in a separately administered fund. In the year to 31 March 2024 Northern Print made an employer's contribution of 3% of pensionable pay, provided that the employee makes a minimum contribution of 5%.

These amounts are paid over to the scheme on a monthly basis. Contributions of £527 were outstanding at 31 March 2024 (2023: £413).

No remuneration has been paid to any Trustees/Directors in the year (2023: £Nil).

No reimbursement has been made of any Travel and Subsistence expenses to Trustees in respect of their attendance at meetings of the charity (2023: £Nil).

32

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

10. Tangible Fixed Assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for year
At 31 March 2024
Net Book Value
At 31 March 2024
At 1 April 2023
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for year
Disposals
At 31 March 2024
Net Book Value
At 31 March 2024
At 1 April 2023		 Assets
Under
Construction
£
5,090
-
(5,090)		 Long
Leasehold
Leasehold
Improvements
Plant &
Machinery
£
£
£
353,071
135,072
132,011
-
-
318
353,071
135,072
132,329
353,071
108,029
115,007
-
13,507
4,352
353,071
121,536
119,359
£-
£13,536
£12,970
£-
£27,043
£17,004
Fixtures &
Fittings
Motor
Vehicles
Total
Fixed
Assets
£
£
£
7,668
13,508
646,420
-
-
318
-
-
(5,090)
-
-
-
-		 7,668
13,508
641,648
6,948
13,508
596,563
361
-
18,220
-
-
-
-
£-		 7,309
13,508
614,783
£359
£-
£26,865
£5,090 £720
£-
£49,857

33

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

11.
Stock
Artwork for Resale
12.
Debtors
Trade Debtors
Other Debtors – Trading Subsidiary
Other Taxes & Social Security Costs - VAT
Accrued Income
Prepayments
13.
Creditors – Amounts Falling Due Within 1 Year
Other Taxes & Social Security Costs – PAYE/NI
Income Received In Advance
Pension Scheme Creditor
Trade Creditors
Unredeemed Gift Vouchers
Other Creditors
Accruals
14.
Provision for Liabilities & Charges
Balance at start of year
Release in year		 2024
£
2023
£
14,130
13,764
£14,130
£13,764
2024
£
2023
£
2,969
630
2,124
1,764
136
4,497
2,595
5,090
1,996
2,205
£9,820
£14,186
2024
£
2023
£
2,408
1,840
6,232
6,134
527
413
1,359
5,897
1,579
1,209
2,179
1,293
6,014
4,659
£20,298
£21,445
2024
£
2023
£
28,618
44,267
(15,649)
(15,649)
£12,969
£28,618

34

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

15. Analysis of Net Assets between Funds

Fixed Assets
Stock
Debtors
Cash at Bank and In Hand
Creditors – Amounts Due Within 1 Year
Provision for Liabilities & Charges		 Unrestricted
Funds
Restricted
Funds
Total
2024
Total
2023
£
£
£
£
22,312
4,553
26,865
49,857
14,130
-
14,130
13,764
7,225
2,595
9,820
14,186
94,498
80,165
174,663
142,027
(20,298)
-
(20,298)
(21,445)
(12,969)
-
(12,969)
(28,618)
£104,898
£87,313
£192,211
£169,771

16. Analysis of Charitable Funds

Unrestricted Funds
Charity General Fund
Designated PrintSpace Development
Fund
Restricted Funds
Art Fund – Inspiring Printmaking
Arts Council England – Capital
Donations - PrintSpace
Idlewild Trust
National Lottery Heritage Fund
Sir James Knott Trust
Tyne & Wear Community Foundation -
UV Unit
Total Funds*		 Fund at
1 April
2023
£
Incoming
Resources
in Year
£
Resources
Expended
in Year
£
Fund at
31 March
2024
£
79,818
223,156
(219,876)
83,098
30,000
-
(8,200)
21,800
109,818
223,156
(228,076)
104,898
-
25,950
(3,875)
22,075
5,090
-
(5,090)
-
-
1,000
(1,000)
-
-
4,700
(1,700)
3,000
-
9,700
(1,601)
8,099
50,000
-
-
50,000
4,863
-
(724)
4,139
59,953
41,350
(13,990)
87,313
£169,771
£264,506
£(242,066)
£192,211

*Though £7,035 from the Tyne & Wear Community Foundation was received and fully spent in the year to 31 March 2022 on a new UV exposure unit, the required accounting treatment releases the grant over the period of the useful life of the asset, matching the annual depreciation on the equipment.

35

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

16. Analysis of Charitable Funds (Cont.)

Name of Designated Fund Description, Nature & Purpose of the Designated Fund

PrintSpace Development Fund Towards the cost of a planned re-development of Northern Print premises Name of Restricted Fund Description, Nature & Purpose of the Restricted Fund Art Fund – Inspiring Printmaking Towards the cost of a two-year programme including digital development, an exchange programme and co-ordination costs Arts Council England (ACE) - Capital Towards the cost of the aborted Print Space capital project Donation - PrintSpace Towards the cost of the revised Print Space development Idlewild Trust Towards the cost of providing support for young artists to further printmaking skills, confidence & profile through studio access, technical support & networks National Lottery Heritage Fund Towards the cost of Bestiaries and Herbaria, a series of prints bringing together traditional printmaking and the natural world Sir James Knott Trust Towards the cost of the Print Space development project Tyne & Wear Community Foundation Towards the cost of an Ultraviolet exposure unit

36

NORTHERN PRINT STUDIO LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

17. Related Party Transactions

The charity has a close working relationship with Arts Council England which is a registered charity and has provided significant funding which enables the charity to carry out its charitable objectives. In total, grant funding of £108,610 (2023: £113,700) was received from Arts Council England in the year. At 31 March 2024, £Nil was owing to Northern Print from Arts Council England (31 March 2023: £5,090).

During the year to 31 March 2024 the charity incurred fees of £660 plus VAT (2023: £4,100 plus VAT from Mosedale Gillatt for architects’ fees in connection with Northern Print's capital development project Print Space.

The Director of Mosedale Gillatt, Tim Mosedale, is the husband of Northern Print's Director, Anna Wilkinson.

Mosedale Gillatt were appointed by Project North East (landlord and owner of the land), following a comprehensive tender exercise, as part of their scoping process to develop the land and produce an initial design scheme up to RIBA Stage 4.

There were no other transactions in the year with related parties, such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities (Effective April 2008) (2023: Nil).

18. Taxation

The company is a registered charity and no provision is considered necessary for taxation.

19. Financial Commitments

No material financial commitments have been made in respect of future financial periods.

20. Company Limited by Guarantee

The charity is incorporated under the Companies Act 1985 and is limited by guarantee, each member having undertaken to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst he or she is still a member or within one year thereafter.

There are currently 8 members of the company (2023 - 8 members).

37