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2021-03-31-accounts

Spike Print Studio Limited

Charity No. 1175637 Company No. 01298190

Trustees' Report and

Unaudited Accounts

31 March 2021

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Student’s work - photopolymer weekend
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Spike Print Studio Limited - Trustee’s Report and Unaudited Accounts

Contents

Pages
Trustees’ Annual Report 2 to 8
Independent Examiner’s Report 9
Statement of Financial Activities 10
Summary Income and Expenditure Account 11
Balance Sheet 12
Statement of Cash fows 13
Notes to the Accounts 14 to 22
Detailed Statement of Financial Activities 23 to 25

Page 1

Spike Print Studio Limited - Trustees Annual Report

Trustees Annual Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2021. The report reflects the impact of the Covid-19 pandemic on the charity’s fundraising plans and income, activities during the year, its financial position and the impact on unrestricted reserves.

Reference and Administrative Details

Company No. 01298190 Charity No. 1175637

Registered Office

Spike Island 133 Cumberland Road

Bristol BS1 6UX

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The follow Directors and Trustees served during the year:

R. Anderton

V.K. Bridge (Resigned 25 March 2021)

I. Chamberlain

J. Ford

A.M. Gibson (Resigned 26 March 2021)

G. Hounsome

C. Howes

Accountants

Magic Bean Counters Limited Unit 7, The Old Co-op 38 Chelsea Road Bristol BS5 6AF

Objectives and Activities

The company was established for charitable purposes, in particular to advance education for public benefit through the promotion of the arts, in particular the art of printmaking and through providing education and training in this art.

Page 2

Spike Print Studio Limited - Trustees Annual Report

It doesn’t matter who you are and how you use Spike Print Studio, the benefits of learning to print can make people happier by enabling them to express themselves, having the freedom to fail, persevere, focus and collaborate. Knowledge is shared easily in an open access print studio.

The Trustees believe that the charity Spike Print Studio adheres to the Charities Act 2006 of providing identifiable benefits and which must be for the public or a section of the public. Spike Print Studio Learning Programme is open to all; access to the studio after a period of training, is also open to all.

Established in 1977, Spike Print Studio is a dynamic place for everyone to develop their creativity through printmaking by providing open access to professional equipment and the expertise of its staff, tutors and artists. Many of our members are freelance artists and designers and lack of studio access as a place of production affects their ability to earn and sustain an income. This became very clear as the pandemic unfolded. Artists often work alone and access to a diverse, energetic studio prevents isolation and is a place to create friendships, contacts and support. The studio has a strong entrepreneurial spirit and attracts artists from a wide range of disciplines.

Achievements and Performance

Our key objectives for 2019-2022 from our 3-year business plan were:

We are normally a self-funding organisation and do not rely on grants for our sustainability but only to create wider access for people unable to afford to participate. Covid-19 changed this model and our survival has depended on grant aid. Spike Print Studio received these grants to help it survive, operate and develop during the pandemic.

Arts Council England £25,000
Bristol City Council £10,337
HMRC CJRS £11,842
Quartet Community Foundation £5,000
Fundraising prints from members £4,710

The funding also enabled us to revisit our business plan and to begin a strategic review in light of the current situation and how the business model could be adapted to be more flexible and robust. This will be in place to implement in July 2022.

Covid-19 impacted on every aspect of life for all – we closed the studio on Tuesday 17 March 2020 but a core staff team of 3 carried on working from home. We furloughed 3 staff members on 100% salary.

Page 3

Spike Print Studio Limited - Trustees Annual Report

Spike Print Studio reached the end of such a challenging year having retained 2/3rd of members and a full staff team and a dedicated tutor team. Without any of these groups’ input, or grant funding, we could not have survived and extend our thanks to all.

Membership and Learning normally provide us with the majority of our income with print sales providing some support. Within 3 weeks of lockdown we lost 5% income from our membership and anticipated a substantial fall in over the next coming months. Many courses were cancelled and we postponed our work with the young homeless, young carers and refugees. Typically, our students are highly motivated to learn and progress their artistic practice. They found this lack of access to learning and being part of an engaged print community quite difficult.

In April 2020 we refunded summer term classes payments amounting to £3,000 with a total loss for an undelivered summer programme of over £20,000. Refunds from the Learning Programme for the year were over £21,000 – over 50% increase on the previous year. An ACE Emergency Grant enabled us to start to put in place a new way of working to support our core community of artists and students and develop new ways of reaching a wider audience to secure our future. In this redesign we were able to hold on to key staff by redeploying them and gain breathing space to fully understand the implications of Covid-19 and develop an adaptable business model that responds to the needs of our current community. The funding helped the core team provide ways of working with people online wanting to create print. It supported operational costs as we incurred significant loss of income and our predicted cashflow remained an unknown.

Approximately two thirds of our membership continued to pay their subscriptions despite no access to the studio and for many freelance artists, no access to their place of production. We adapted our Learning Programme to develop and deliver online content for our 1-year students (Sept 2020-July 2021). It was a steep learning curve where we moved swiftly to ameliorate any errors in presentation. Our 1-year students would normally have a year-end exhibition in July, but this has not been possible because of social distancing. We have booked a venue for October 2022 to exhibit 3 separate Year groups together in order to honour this commitment. In October 2020, we were able to host a year end exhibition at Kosar, Bristol for the cpd Press Play 1 year students who had a greater flexibility in coming together as they were not solely reliant on studio access.

Where it was impossible to run booked classes, we refunded in full. Where classes had to stop near the end of their term, we arranged catch up classes for all groups. This proved challenging in terms of managing expectations and some students were not happy with the offer. We were able to maintain momentum with a new partnership to develop projects in areas of high deprivation by providing satellite studios to increase access to facilities and training. This is ongoing at the time of writing (Dec 2021).

Page 4

Spike Print Studio Limited - Trustees Annual Report

Borderlands Refugees’ work with home printmaking packs

Snapshot: This is what we managed to achieve:

Page 5

Spike Print Studio Limited - Trustees Annual Report

Borderlands Refugees’ work with home printmaking packs

Student’s work - photopolymer weekend

Page 6

Spike Print Studio Limited - Trustees Annual Report

Financial Review

Unrestricted income for the year was £133,939 (2020 : £167,966), down 20.3%. Unrestricted expenditure for the year was £126,943 (2020 : £171,812), down 26.1%. £382 (2020 : £31,525) was transferred in the year from restricted to unrestricted reserves covering overheads related to funded projects. Net unrestricted income for the year was £7,378 (2020 : £27,679), with £5,152 being transferred in addition to this from designated funds, this resulted in an increase in overall general reserves of £12,530 (2020 : £2,035).

printmaking studio from which we can offer affordable space for artists to make work, run a comprehensive learning programme and education outreach project Show Me How, edition work with Artists. The purpose of the charity’s reserves policy is to ensure the stability of its mission, employment and ongoing operations and to protect its continuity. This allows us to plan constructively and to identify funding needs.

The calculation of average monthly operating costs includes all recurring, predictable expenses such as salaries, rent and running costs. Our target minimum Reserves Fund is equal to 3 months of average operating costs plus provision for estimated costs of closure.

Given the current risks facing the sector in light of the global Covid-19 pandemic, the Trustees have considered the costs of closing the company due to lockdown or a specific outbreak of Covid-19. They have judged it best to temporarily increase reserves by £11,000. This amount represents an additional month's running costs in order to subsidise potential enforced closures while not risking the reserves necessary to properly wind-up activities should the need for this arise.

The Trustees have reviewed the costs in relation to statutory redundancy pay. They have calculated these at £10,000.

The current reserve policy of £54,000 is intended to provide an internal source of funds for situations such as a sudden increase in expenses, one-time unbudgeted expenses, unanticipated loss in funding, or uninsured losses.

Plans for Future Periods

2021-2022: As the pandemic continues to play out, our main aim is to ensure that Spike Print Studio survives so that it continues delivering to the public, a regional and national facility for learning, open access and print editioning. And remains a place for experimentation, learning, discussion and open to all.

Sustainability: We are deeply concerned about the future of the environment for the next generations and are developing a sustainability programme which takes into account our need to change and our resources to implement the changes. We are working with Master paper maker to produce our own paper from our classes and members’ paper waste. In house production. Building a resources page on website. We will set up a sustainability group with our members to steer and monitor progress and intend to carry out a full environmental audit by the end of 2022.

Page 7

Spike Print Studio Limited - Trustees Annual Report

Structure, Governance and Management

The entity is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association incorporated 11 February 1977. It became a charity on 25 October 2017 having been a not for profit company since its inception.

The appointment of trustees is governed by the Memorandum and Articles of Association of the company.

The Board is authorised to appoint new trustees by resolution to fill vacancies arising. New trustees receive an information pack and are invited to meet with the Chair and Studio Director, visit the studio and attend a Board meeting before committing to becoming a Trustee. Studio members are invited to apply and form 80% of Trustees with 20% for external members.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to 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 charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for ensuring that major risks have been identified and that they can confirm that control systems are in place to manage those risks.

The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts. The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

J.Ford

Trustee

16 December 2021

Page 8

Spike Print Studio Limited - Independent Examiners Report

Independent Examiner's Report to the trustees of Spike Print Studio Limited

I report to the charity trustees on my examination of the accounts of Spike Print Studio Limited for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows and the related notes.

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 accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts 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 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

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

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.

Ryan Corkery FCCA Magic Bean Counters Limited Unit 7, The Old Co-op 38 Chelsea Road Bristol BS5 6AF

16 December 2021

Page 9

Spike Print Studio Limited - Statement of Financial Activities

Statement of Financial Activities for the year ended 31 March 2021

Unrestricted Restricted Total funds Total funds
funds 2021 funds 2021 2021 2020
Notes £ £ £ £
Income and endowments
from:
Donations and legacies 4 26,789 30,000 56,789 1,490
Charitable activities 5 100,490 - 100,490 150,102
Other trading activities 6 6,016 - 6,016 13,793
Other 7 644 - 644 4,071
Total 133,939 30,000 163,939 169,456
Expenditure on:
Raising funds 8 473 - 473 6,732
Charitable activities 9 24,653 - 24,653 46,876
Other 10 101,817 29,618 131,435 118,204
Total 126,943 29,618 156,561 171,812
Net gains on investments - - - -
Net income/(expenditure) 11 6,996 382 7,378 (2,356)
Transfers between funds 382 (382) - -
Net income/(expenditure)
before other gains/(losses) 7,378 - 7,378 (2,356)
Other gains and losses
Net movement in funds 7,378 - 7,378 (2,356)
Reconciliation of funds:
Total funds brought forward 72,955 - 72,955 75,311
Total funds carried forward 80,333 - 80,333 72,955

Page 10

Spike Print Studio Limited - Summary Income and Expenditure Account

Summary Income and Expenditure Account for the year ended 31 March 2021

Income
Gross income for the year
Expenditure
Depreciation and charges for impairment of
fxed assets
Total expenditure for the year
Net income/(expenditure) before tax for the
year
Tax payable
Net income/(expenditure) for the year		 2021
2020
£
£
163,939
169,456
163,939
169,456
148,109
164,003
8,452
7,706
156,561
171,709
7,378
(2,253)
-
(103)
7,378
(2,356)

Page 11

Spike Print Studio Limited - Balance Sheet

Balance Sheet at 31 March 2021

Company No. 01298190
Notes
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: Amount falling due within one year
17
Net current assets
Total assets less current liabilities
Net assets excluding pension asset or liability
Total net assets
The funds of the charity
Unrestricted funds
18
General funds
Designated funds
Total funds		 2021
2020
£
£
30,654
32,520
30,654
32,520
14,299
14,322
2,119
4,346
54,367
42,152
70,785
60,820
(21,106)
(20,385)
49,679
40,435
80,333
72,955
80,333
72,955
80,333
72,955
59,841
47,311
20,492
25,644
80,333
72,955

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

Approved by the board on 16 December 2021

And signed on its behalf by:

J. Ford Trustee 16 December 2021

Page 12

Spike Print Studio Limited - Statement of Cash flows

Statement of Cash flows for the year ended 31 March 2021

Cash fows from operating activities
Net income/(expenditure) per Statement of Financial
Activities
Adjustments for:
Depreciation of property, plant and equipment
Decrease in stocks
Decrease in trade and other receivables
Increase in trade and other payables
Net cash provided by operating activities
Cash fows from investing activities
Payments for property, plant and equipment
Net cash used in investing activities
Net cash from fnancing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Components of cash and cash equivalents
Cash and bank balances		 2021
2020
£
£
7,378
(2,356)
8,452
7,706
23
478
2,227
282
721
5,636
18,801
11,746
(6,586)
(36,184)
(6,586)
(36,184)
-
-
12,215
(24,438)
42,152
66,590
54,367
42,152
54,367
42,152
54,367
42,152

Page 13

Spike Print Studio Limited - Notes to the Accounts

Notes to the Accounts for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.

Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of Income is included in the Statement of Financial Activities (SoFA) income when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure expenditure is reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is legacies included in the the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Donated services These are only included in income (with an equivalent amount in and facilities expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material. Investment income This is included in the accounts when receivable. Expenditure Recognition of Expenditure is recognised on an accruals basis. Expenditure expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary raising funds income, fundraising trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of charitable activities its activities and services in the furtherance of its objects, including the making of grants and governance costs.

Page 14

Spike Print Studio Limited - Notes to the Accounts

Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Tangible fixed assets and depreciation

its estimated useful life:

Studio refurbishment 10% straight line Furniture, fixings & equipment 20% straight line

Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Pension costs

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 15

Spike Print Studio Limited - Notes to the Accounts

The company is a private company limited by guarantee and consequently does not have share capital.

The company is a public benefit entity.

3 Statement of Financial Activities - prior year

4
Income from donations and legacies
Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Other
Total
Expenditure on:
Raising funds
Charitable activities
Other
Total
Net income
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Grants received
Donated print sales		 Unrestricted
funds 2020
Restricted
funds 2020
Total funds
2020
£
£
£
-
1,490
1,490
150,102
-
150,102
13,793
-
13,793
4,071
-
4,071
167,966
1,490
169,456
6,732
-
6,732
46,876
-
46,876
118,204
-
118,204
171,812
-
171,812
(3,846)
1,490
(2,356)
31,525
(31,525)
-
27,679
(30,035)
(2,356)
45,276
30,035
75,311
72,955
-
72,955
Unrestricted
Restricted
Total
2021
Total
2020
£
£
£
22,079
30,000
52,079
1,490
4,710
-
4,710
-		 Unrestricted
funds 2020
Restricted
funds 2020
Total funds
2020
£
£
£
-
1,490
1,490
150,102
-
150,102
13,793
-
13,793
4,071
-
4,071
167,966
1,490
169,456
6,732
-
6,732
46,876
-
46,876
118,204
-
118,204
171,812
-
171,812
(3,846)
1,490
(2,356)
31,525
(31,525)
-
27,679
(30,035)
(2,356)
45,276
30,035
75,311
72,955
-
72,955
26,789
30,000
56,789
1,490

Page 16

Spike Print Studio Limited - Notes to the Accounts

5 Income from charitable activities

Membership
Learning programme
Editioning
Exhibitions & events		 Unrestricted Total 2021
Total
2020
£
£
36,343
36,343
44,123
62,928
62,928
102,432
365
365
2,183
854
854
1,364
100,490
100,490
150,102
Materials
Storage		 Unrestricted Total 2021
Total
2020
£
£
968
968
7,620
5,048
5,048
6,173
6,016
6,016
13,793

Miscellaneous income

**Unrestricted ** Total 2021 Total
2020
£ £
644 644 4,071
644 644 4,071
Fundraising trading costs
Materials		 Unrestricted Total 2021
Total
2020
£
£
473
473
6,732
473
473
6,732

Page 17

Spike Print Studio Limited - Notes to the Accounts

9 Expenditure on charitable activities

Unrestricted Unrestricted Total
2021		 Total
2020
£ £
Expenditure on charitable activities
Learning programme 23,984 23,984 46,387
Editioning 308 308 165
Exhibitions & events 361 361 324
24,653 24,653 46,876
Other expenditure
Unrestricted Restricted Total
2021		 Total
2020
£ £ £
Marketing 558 - 558 365
Graphic designer 1,723 - 1,723 4,876
Direct costs of funded projects - 9,618 9,618 -
Exempt input tax 10,362 - 10,362 -
Corporation tax charge/(credit) - - - 103
Employee costs 41,846 20,000 61,846 61,317
Motor and travel costs - - - 85
Premises costs 26,499 - 26,499 32,847
Amortisation, depreciation, impairment,
proft/loss on disposal of fxed assets		 8,452 - 8,452 7,706
General administrative costs 7,672 - 7,672 8,696
Legal and professional costs 4,705 - 4,705 2,209
101,817 29,618 131,435 118,204
Net income/(expenditure) before transfers
2,021 2,020
This is stated after charging: £ £
Depreciation of own fxed assets 8,452 7,706

Page 18

Spike Print Studio Limited - Notes to the Accounts

12

Salaries and wages
Social security costs
Pension costs		 2021
2020
£
£
59,507
57,986
-
758
944
948
60,451
59,692

No employee received emoluments of more than £60,000 in the current or prior period.

The average monthly number of full time equivalent employees during the year was as follows:

Studio management
Cleaning		 2021
2020
Number
Number
5
4
1
1
6
5

13 Trustee remuneration and expenses

No remuneration was payable to any of the trustees in the current or prior period.

No expenses have been reimbursed to any of the trustees in the current or prior period.

Page 19

Spike Print Studio Limited - Notes to the Accounts

14 Tangible fixed assets

15
Stocks
16
Debtors
Cost or revaluation
At 1 April 2020
Additions
At 31 March 2021
Depreciation and impairment
At 1 April 2020
Depreciation charge for the year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020
Raw materials and consumables
Finished goods
Carrying value analysed by activities
Editioning
Materials
Trade debtors
VAT recoverable
Other debtors		 Studio
refurbishment
Furniture,
fxings &
equipment
Total
£
£
£
15,139
56,628
71,767
-
6,586
6,586		 Studio
refurbishment
Furniture,
fxings &
equipment
Total
£
£
£
15,139
56,628
71,767
-
6,586
6,586
15,139
63,214
78,353
1,514
37,733
39,247
1,514
6,938
8,452
3,028
44,671
47,699
12,111
18,543
30,654
13,625
18,895
35,520
2021
2020
£
£
3,419
3,442
10,880
10,880
14,299
14,322
2021
2020
£
£
10,880
10,880
3,419
3,442
14,299
14,322
2021
2020
£
£
1,450
2,889
-
659
669
798
2,119
4,346

Page 20

Spike Print Studio Limited - Notes to the Accounts

17
Creditors:
amounts falling due within one year
Other taxes and social security
Other creditors
Accruals and deferred income		 2021
2020
£
£
4,046
905
183
185
16,877
19,295
21,106
20,385
18
Movement in funds
Restricted funds:
Restricted income funds:
Quartet Community Foundation
Arts Council England
Total
Unrestricted funds:
General funds
Designated funds:
Grant funded assets
Total
Total funds		 At 1
April
2020
Incoming
resources
(including
other gains/
losses)
Resources
expended
Gross
transfers
At 31
March
2021
£
£
£
-
5,000
(4,618)
(382)
-
-
25,000
(25,000)
-
-
-
30,000
(29,618)
(382)
-
47,311
133,939
(126,943)
5,534
59,841
25,644
-
-
(5,152)
20,492
25,644
-
-
(5,152)
20,492
72,955
163,939
(156,561)
-
80,333

Purposes and restrictions in relation to the funds:

Restricted funds:

Quartet Community Foundation Arts Council England

Home Print Project Make it Happen Project

Designated funds: Grant funded assets

Represents the net book value of assets purchased with grant funding

Page 21

Spike Print Studio Limited - Notes to the Accounts

19 Analysis of net assets between funds

Unrestricted Unrestricted
funds Total
£ £
Fixed assets 30,654 30,654
Net current assets 49,679 49,679
80,333 80,333
20 Reconciliation of net debt
At 31
At 1 April March
2020 Cash fows 2021
£ £ £
Cash and cash equivalents 42,152 12,215 54,367
42,152 12,215 54,367
Net debt 42,152 12,215 54,367
21 Commitments
Pension commitments
2021 2020
£ £
The pension cost charge to the company amounted to: 944 948
Unpaid contributions due to the fund are included in other
creditors and amounted to: 184 185

22 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company.

Page 22

Spike Print Studio Limited - Detailed Statement of Financial Activities

Detailed Statement of Financial Activities for the year ended 31 March 2021

Income and endowments from:
Donations and legacies
Grants received
Donated print sales
Charitable activies
Membership
Learning programme
Editioning
Exhibitions & events
Other trading activities
Materials
Storage
Other
Miscellaneous income
Total income and endowments
Expenditure on:
Costs of other trading activities
Materials
Total of expenditure on raising funds
Charitable activities
Learning programme
Editioning
Exhibitions & events
Total of expenditure on charitable
activities		 Unrestricted
funds 2021
Restricted
funds 2021
Total funds
2021
Total funds
2020
£
£
£
22,079
30,000
52,079
1,490
4,710
-
4,710
-
26,789
30,000
56,789
1,490
36,343
-
36,343
44,123
62,928
-
62,928
102,432
365
-
365
2,183
854
-
854
1,364
100,490
-
100,490
150,102
968
-
968
7,620
5,048
-
5,048
6,173
6,016
-
6,016
13,793
644
-
644
4,071
644
-
644
4,071
133,939
30,000
163,939
169,456
473
-
473
6,732
473
-
473
6,732
473
-
473
6,732
23,984
-
23,984
46,387
308
-
308
165
361
-
361
324
24,653
-
24,653
46,876
24,653
-
24,653
46,876

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Spike Print Studio Limited - Detailed Statement of Financial Activities

Other expenditure
Marketing
Graphic designer
Direct costs of funded projects
Exempt input tax
Corporation tax charge/(credit)
Employee costs
Salaries/wages
Employer’s NIC
Pension costs
Staf welfare
Temporary staf
Travel and subsistence
Premises costs
Rent
Premises cleaning
Premises repairs and maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Studio
refurbishment
Depreciation of Furniture, fxings &
equipment
Bad debts
Bank charges
Equipment expensed
Equipment leasing and hire charges
General insurances
Information and publications
Postage and couriers
Software, IT support and related
costs
Stationery and printing
Subscriptions		 558
-
558
365
1,723
-
1,723
4,876
-
9,618
9,618
-
10,362
-
10,362
-
-
-
-
103
Unrestricted
funds 2021
Restricted
funds 2021
Total funds
2021
Total funds
2020
12,643
9,618
22,261
5,344
39,507
20,000
59,507
57,986
-
-
-
758
944
-
944
948
-
-
-
681
1,395
-
1,395
944
41,846
20,000
61,846
61,317
-
-
-
85
-
-
-
85
26,113
-
26,113
31,164
386
-
386
1,165
-
-
-
518
26,499
-
26,499
32,847
1,514
-
1,514
1,514
6,938
-
6,938
6,192
-
-
-
445
1,503
-
1,503
2,888
1,808
-
1,808
1,176
1,107
-
1,107
422
482
-
482
476
32
-
32
67
176
-
176
106
1,187
-
1,187
821
169
-
169
1,130
56
-
56
50

Page 24

Spike Print Studio Limited - Detailed Statement of Financial Activities

Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination fees
Accountancy and bookkeeping
Consultancy fees
Other legal and professional costs
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net income/(expenditure)
Transfers between funds
Net income/(expenditure) before other
gains/(losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 504
-
504
282
648
-
648
833
Unrestricted
funds 2021
Restricted
funds 2021
Total funds
2021
Total funds
2020
16,124
-
16,124
16,402
900
-
900
900
2,755
-
2,755
1,280
1,050
-
1,050
-
-
-
-
29
4,705
-
4,705
2,209
101,817
29,618
131,435
118,204
126,943
29,618
156,561
171,812
-
-
-
-
6,996
382
7,378
(2,356)
382
(382)
-
-
7,378
-
7,378
(2,356)
7,378
-
7,378
(2,356)
72,955
-
72,955
75,311
80,333
-
80,333
72,955

Page 25