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2022-03-31-accounts

Trustees’ Report & Unaudited Accounts 31 March 2022

Spike Print Studio Limited Charity No. 1175637 Company No. 01298190

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Drawing with printmaking Offsite with Anna Marrow. Student:

I loved the locations. The discussions and focus Anna facilitated each week were brilliant. The way the themes built gave you a sense that you were developing skills and knowledge week on week. July 2022

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Contents

Trustees Report - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4 Independent Examiner’s Report - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 14 Statement of Financial Activities - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 15 Summary Income Expenditure Account - - - - - - - - - - - - - - - - - - - - - - - - - - - 16 Balance Sheet - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 17 Statement of Cash flows - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 18 Notes to the Accounts - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 19 Detailed Statement of Financial Activities - - - - - - - - - - - - - - - - - - - - - - - - - - 28

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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 2022.

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 following Directors and Trustees served during the year:

R. Anderton (Chair) (Resigned 7 March 2022)

J.R. Bugler

I. Chamberlain (Resigned 17 May 2022)

J. Ford

G. Hounsome

C. Howes

Accountants

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

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oBJeCTIVes AnD ACTIVITIes

The company was established for charitable purposes, 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.

Its mission is to provide exceptional resources, training and inspiration for all and space for artists to create, and by doing so, advance printmaking and educate the public in the wide - reaching art of printmaking.

Spike Print Studio (SPS) sustains, promotes and advances fine art printmaking as a contemporary visual art form; as a focus for exhibitions and commissions; in schools, with community groups, to artists and to the general public. As such, the company’s activities are undertaken to further its charitable purposes for the public benefit. The Trustees have considered the general guidance issued by the Charity Commission on public benefit.

The studio is a regional asset and nationally acclaimed open access print studio. It provides comprehensive and exceptional print facilities for fine art printmaking in both traditional and new technologies by continuously upgrading and enhancing current provision and working with the best tutors or specialists who are usually practicing artists themselves. In consultation with its current stakeholders—members, students, and the general public who changed their working and entertainment patterns due to the pandemic and the current economic climate, we experimented with new ways of delivery our service. Because our users had confidence that participation in print was good for their artistic practice and personal wellbeing it was able to embrace change.

Covid-19 Contd

There is no respite for the global economy. Two years ago, it was shaken by the onset of the pandemic, as an overwhelming health crisis has now turned into an overwhelming economic

crisis. Along with everyone else we have faced another year of navigating through the pandemic and its associated lockdowns, trying to manage its impact on our studio and community users and their expectations. Spike Print Studio went into lockdown on 17 March 2020 and we could not complete our learning programme for the spring term or accrue the income that would normally arrive from a new programme. Although we started to feel the financial impact of the pandemic during 2020 -2021 we were supported by ACE Emergency Grants, furlough and BCC business support together with rent reduction from our landlord., We knew that the operational challenge would not become clear until this Trustees Annual Report 2021 -20212. All restrictions were not lifted fully until 22 February 2022.

ACHIEVEMENTS AND PERFORMANCE

Achievements are measured in this context and with the team that has pulled together brilliantly despite a myriad of challenges.

Key objectives for 2021-2022 were to:

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The Studio Director’s focus has been on strategic development and funding bids for key personnel, community projects and stand -alone equipment improvement to secure the immediate and long - term future of the studio. The focus also remains on Investing and developing our audience and embracing the growth in demand for access to print and in particular, membership. The studio began to create a hybrid model that allows it to work with maximum flexibility whilst ensuring it operates a viable business which takes into account current structural shifts. It has seen that access to learning and a desire to learn is sustained behaviour and feel confident because the demand for print education and open access facilities continues to be high. SPS has implemented a new business model that is more fluid enabling it to offer different types of access to learning and discovering the creative process provided by printmaking.

Through its accessible learning programme, membership, editioning and exhibitions it continues to secure a progressive future for its community, but to meet demand and provide more people with access additional skills are needed and are currently part of a funding bid.

Professional Development

- Bursary Awards and Opportunities 2021-2022

Home Print Packs and Mobile Print Project 2020–2022

This Show Me How community -based project was able to run throughout the pandemic with the support of Quartet Community Foundation and Bristol City Council’s Originators Fund. This project reached communities who were isolated by the pandemic. The strong positive response to it has led to recommendations for further project funding to continue the work in the city with further funding from Bristol City Council.

Show Me How delivered the following:

Show Me How

Show Me How is an umbrella name for a community printmaking education that creates opportunities for young people (16 -25) who have limited access to the arts and for other groups in society who do not have opportunities and to the production of art.

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Images from Mobile Print Project refugees and young carers .

Awards

Peter Reddick Bursary Award. Annual award to exceptional graduate working in contemporary relief printmaking. (Quartet Foundation). Matthew Lintott

UWE Graduate 1 Year Relief Printmaking opportunity 50% discount. On hold to 2023

Scholarship award 1 Year Press Play course – Kamina Walton

Spike Island 2x free spaces on Textile courses for Rising Agency BAME

Free workshop/s for young people with special needs

Young Homeless support through training and working with tutor including free access to relevant course.

Exhibition and curation opportunity to members to coincide with Spike Island’s gallery programme.

Trainee tutor opportunities for members.

Member Technician *

An annual 2 of opportunity for our members who, in return for 3 hours work supporting the Studio Manager, receive keyholder membership, training, materials credit and a learning programme credit of equal value.

UWE Member Technician *

An initiative created over 12 years ago for 1 -year professional development practice for an MA MDP student.

Spike Print Studio Limited

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TRUsTees’ AnnUAl RepoRT

Young Person Technician Scheme*

A work experience opportunity which complements our Member Technician Scheme is now in its second year and attracts energetic, ambitious people who work well in the studio. We specifically focus on young people who would not normally access these opportunities.

*These on hold until January 2023

The Learning Programme

Printmaking education allows access with no skills or qualifications and can be adapted to suit all levels of ability. SPS provides the complete spectrum of print education - from beginners’ courses to print scholarships and bursaries and it creates opportunities to meet and work with professional artists.

include working at home by providing equipment, materials and plans and online working. If we had to go into lockdown again, we are well placed to sustain this learning.

The portfolio courses normally have an offsite gallery exhibition at the end of the year. We have not been able to do this but will hold 3 years of student exhibitions later in 2022.

We have an online learning offer in a variety of courses and techniques including ,Bookmaknig, Portfolio courses, Photoshop to print techniques. Looking to the future, we will recruit a specialist technician to streamline and develop this offer.

The Learning Programme is our largest income stream, overtaking membership income for the last 3 years.

Studio Membership

Accessible, affordable open access

The studio encourages dialogue and exchanges of ideas and welcomes initiatives and new directions from its central to the studio’s ethos and for many it is the starting point of a life time engagement with the art of print making and a love of art. We create professional development opportunities for students and graduates.

The programme is exciting, accessible and professional, and as a result, many courses would normally be oversubscribed. The courses are very popular and we regularly receive positive feedback. A large number of course attendees attend more than one course or go on to become members.

The courses are competitively priced and offers concessions on a case -by -case basis.

The programme adapts to the needs and demands of our communities and is reviewed each year in order to harness the desire for varied courses at all levels.

Membership and open access are the beating heart of the studio and makes it vibrant, engaging and a place for exchanging ideas and supporting one another.

Individual Instruction

SPS provides an average teacher to pupil ratio of 1 to 8, so the quality of teaching is extremely high and there is a great deal of opportunity for one - to -one instruction.

High calibre of artist members

Members require a high degree of expertise in order to work independently in the studio and this ensures the calibre of work produced is high. SPS interviews prospective members to establish their skill level and encourages those without appropriate experience to attend courses. This is an important part of SPS’s activities and mission. SPS believes it is important to build and expand on what has already been established in the field of print and to contribute to current national and international dialogues and debates involving the practice.

We are now running 4x 1 Year Porfolio Courses and during the pandemic adapted them to

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To complement this activity, SPS continues expanding its collaborative work with emerging and established fine artists. A high proportion of SPS tutors who are self -employed artists, comes from its membership and SPS is proud to have established a talented and invested tutor group from its membership. Many of these tutors are also members of the studio.

Our members connected during lockdown online through Spiked Coffee Mornings, Lockdown diaries and Members’ posts. This still continues as the members find them incredibly useful forums which they control and organize.

Fundraising

Members’ fundraising for the studio

SOS Buy a Print: our professional members printed exclusive, limited -edition prints and are donated all the proceeds to the studio to help it survive the next few bumpy months. We do not rely on grants for our sustainability and are normally self -sufficient through membership fees, our learning programme and print sales.

Artists Anna Harley, Chitra Merchant, Anna Marrow, Jane Ormes and Sarah Duncan produced work specifically for this fundraiser for the studio.

Exhibitions

There were no live exhibitions at the studio but members took part in prestigious and delayed national exhibitions.

Print festival 2021 at the Atelier d’Art Populaire 26 -30 May Our partners in Bordeaux hosted a 3 -day print festival in which 5 of our artists’ work was exhibited.

Leonie Bradley – work selected for New Prints 2021/Summer: Leonie Bradley had a video featuring folded linocut, wood engraving and photopolymer gravure artworks selected for New Prints 2021/Summer at the International Print Center New York. The juror was renowned woodcut artist, Christiane Baumgartner who

selected 36 artists from over 900 entries. The video was a collaboration between Leonie and music artist Silverlining to accompany his album Simulacra that explores themes of counterculture and digital identity. The exhibition was held physically and virtually from 10 June – 18 September 2021. Established in 2000, the New Prints Program is a biannual, juried open call for prints and print -based work created in the preceding twelve months. Juried by stakeholders in the field, these exhibitions offer snapshots of what artists are contending with in the moment, leading a sense of immediacy to each presentation.

RA Summer Exhibition 2021: Chitra Merchant, Sarah Duncan, Ros Ford, Anna Harley, Martine Baldwin, Lisa Takahashi, Emma Studd and Emma Stibbon, Martyn Grimmer and SPS Trustee Ian Chamberlain were selected artists. It is a testament to the talent of this studio that we should be so well represented at this prestigious show.

Artists Sarah Duncan and Libby Lloyd nominated for Queen Sonja Print Award 2022: We were beyond chuffed that the very talented Sarah Duncan and Libby Lloyd were both nominated for this prestigious award in January 2022. The Queen Sonja Print Award has become the world’s leading award for graphic art and is presented every other year to a young, ambitious and promising artist who has excelled in the field of printmaking. A wide range of international professionals, curators, artists and art institutions nominate talented artists from all over the world for this prestigious prize. The nominees reflect the breadth of contemporary printmaking around the world, ranging from traditional forms to new approaches involving installation, collage and performance.

Editioning

Editioning is under strategic review. We are currently developing collaborations. We are establishing a new editioning relationship with Spike Island and had just started to work with Eric Baudelaire to produce work for his exhibition in April 2020 together with an edition. This was delayed until 2022 due to Covid -19.

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Image: Stephen Fowler (experimental print) Advanced Screenprinting

Really delighted to have attended this. I’ve got so much out of it and feel really inspired.

Attendee Advanced Screenprinting Nov 2021

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Members’ Fundraiser Prints

Sarah Duncan Winter Moon

Chitra Merchant - Nascence

Anna Marrow Little Fluffy Clouds

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Financial Review

Unrestricted income for the year was £150,352 (2021 : £133,939), up 12.3%. Unrestricted expenditure for the year was £204,667 (2021 : £126,943), up 61.2%. £53,657 (2021 : £382) was transferred in the year from restricted to unrestricted reserves covering overheads related to funded projects, £50,000 of this amount was from one grant from Arts Council England to support the recovery of arts organisations. Net unrestricted income for the year was £ -658 (2021 : £7,378), with £5,152 being transferred in addition to this from designated funds, this resulted in an increase in overall general reserves of £4,494 (2021 : £12,530).

Our earned income gives us the resources to provide a fully equipped and expertly staffed 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.

plAns FoR FUTURe peRIoDs

During this year our focus has been on strategic development and how we can emerge from this chaos with a strong business model that will sustain us and allow us to grow and continue to deliver an incredible open access print studio to the public.

Over the next 18 months, Spike Print Studio will seek to put 2 key posts in place: Marketing & Audience Development Manager and a Specialist Technician. SPS will secure the expertise needed to make immediate and long -term pivotal changes to widen participation in print.

It is looking at establishing pivotal offsite partnerships and a new satellite base to work directly with its community in an area that has significant pockets of deprivation.

Training in the community

SPS Mobile Print Project was able to train facilitators as demonstrated by the seed project outcome when Bristol MIND took on one of the trained facilitators to continue to deliver the print opportunities to support the wellbeing of their clients. One of SPS’s key aims is to engage people within priority communities to come into the studio to experience working with professional equipment and get the full educational benefits that SPS is uniquely set up to offer.

Sustainability & Environment

The current reserve policy of £45,000 in free reserves 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.

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.

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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.

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

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

D. Hoare Trustee 01 December 2022

Image: Matthew Lintott, Peter Reddick Bursary Award Recipient 2021-2022. Time Real and Imagined: woodcut

InDepenDenT exAMIneR’s RepoRT

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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 2022 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

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

1 December 2022

I have completed my examination. I can confirm that no material matters have come to my

Spike Print Studio Limited for the year ended 31 March 2022

sTATeMenT oF FInAnCIAl ACTIVITIes

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Notes
Income and endowments
from:
Donationsand legacies
4
Charitable activities
5
Other tradingactivities
6
Other
7
Total
Expenditure on:
Raisingfunds
8
Charitable activities
9
Other
10
Total
Net gainson investments
Net income
11
Transfersbetween funds
Net income before other
gains/ (losses)
Other gainsand losses
Net movement in funds
Reconciliation of funds:
Total fundsbrought forward
Total fundscarried forward		 Unrestricted
funds
2022
£
5,667
136,229
8,212
244		 Restricted
funds
2022
£
62,966
-
-
-		 Total funds
2022
£
68,633
136,229
8,212
244		 Total funds
2021
£
56,789
100,490
6,016
644
150,352
3,957
50,968
149,742		 62,966
-
-
4,309		 213,318
3,957
50,968
154,051		 163,939
473
24,653
131,435
204,667
-		 4,309
-		 208,976
-		 156,561
-
(54,315)
53,657		 58,657
(53,657)		 4,342
-		 7,378
-
(658) 5,000 4,342 7,378
(658)
80,333		 5,000
-		 4,342
80,333		 7,378
72,955
79,675 5,000 84,675 80,333

Spike Print Studio Limited for the year ended 31 March 2022

sUMMARy InCoMe expenDITURe ACCoUnT

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Income
Grossincome for the year
Expenditure
Depreciation and chargesfor
impairment of fixed assets
Total expenditure for the year
Net income before tax for the year
Net income for the year		 2022
£
213,318
213,318
201,081
7,895
208,976
4,342
4,342		 2021
£
163,939
163,939
148,109
8,452
156,561
7,378
7,378

Spike Print Studio Limited at 31 March 2022

BAlAnCe sHeeT

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Company No.
01298190
Notes
2022
£
Fixed assets
Tangible assets
14
24,020
24,020
Current assets
Stocks
15
14,546
Debtors
16
4,032
Cash at bank and in hand
53,090
71,668
Creditors: Amount fallingdue within one year
17
(11,013)
Net current assets
60,655
Total assetslesscurrent liabilities
84,675
Net assetsexcludingpension asset or liability
84,675
Total net assets
84,675
The fundsof the charity
Restricted funds
18
Restricted income funds
5,000
5,000
Unrestricted funds
18
General funds
64,335
Designated funds
15,340
79,675
Reserves
18
Total funds
84,675		 2021
£
30,654
30,654
14,299
2,119
54,367
70,785
(21,106)
49,679
80,333
80,333
80,333
-
-
59,841
20,492
80,333
80,333

These accountshave been prepared in accordance with the special provisionsof Part 15 of the Companies Act 2006 relatingto small companies.

For the year ended 31 March 2022 the company wasentitled to exemption under section 477 of the CompaniesAct 2006 relatingto small companies.

The membershave not required the company to obtain an audit in accordance with section 476 of the CompaniesAct 2006.

The directorsacknowledge their responsibilitiesfor complyingwith the requirementsof the CompaniesAct 2006 with respect to accountingrecordsand the preparation of accounts.

Approved by the board on 01 December 2022 and signed on itsbehalf by:

D. Hoare Trustee 01 December 2022

Spike Print Studio Limited for the year ended 31 March 2022

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sTATeMenT oF CAsH Flows

Cash flowsfrom operatingactivities
Net income per Statement of Financial Activities
Adjustmentsfor:
Depreciation of property, plant and equipment
Dividends, interest and rentsfrom investments
Other gains/losses
(Increase)/Decrease in stocks
(Increase)/Decrease in trade and other receivables
(Decrease)/Increase in trade and other payables
Net cash (used in)/ provided by operatingactivities
Cash flowsfrom investingactivities
Paymentsfor property, plant and equipment
Net cash used in investingactivities
Net cash from financingactivities
Net (decrease)/ increase in cash and cash equivalents
Cash and cash equivalentsat the beginningof the year
Cash and cash equivalentsat the end of the year
Componentsof cash and cash equivalents
Cash and bank balances		 2022
£
4,342
7,895
-
-
(247)
(1,913)
(10,093)
(16)
(1,261)
(1,261)
-
(1,277)
54,367
53,090
53,090
53,090		 2021
£
7,378
8,452
-
-
23
2,227
721
18,801
(6,586)
(6,586)
-
12,215
42,152
54,367
54,367
54,367

Spike Print Studio Limited for the year ended 31 March 2022

noTes To THe ACCoUnTs

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1 Accountingpolicies

Basisof preparation

The financial statementshave been prepared in accordance with Accountingand Reportingby Charities: Statement of Recommended Practice applicable to charitiespreparingtheir accountsin accordance with the Financial ReportingStandard applicable in the UKand Republic of Ireland (FRS102) (effective 1 January 2015) - (CharitiesSORP(FRS102)), the Financial ReportingStandard applicable in the UKand Republic of Ireland (FRS102) and the CompaniesAct 2006.

Change in basisof accounting or to previousaccounts

There hasbeen no change to the accountingpolicies(valuation rulesand method of accounting) since last year and no changeshave been made to accountsfor previousyears.

Fund accounting

Fund accounting
Unrestricted funds These are available for use at the discretion of the trusteesin furtherance of the
general objectsof the charity.
Designated funds These are unrestricted fundsearmarked by the trusteesfor particular purposes.
Revaluation funds These are unrestricted fundswhich include arevaluation reserve representingthe
restatement of investment assetsat their market values.
Restricted funds These are available for use subject to restrictionsimposed by the donor or through
termsof an appeal.
Income
Recognition of Income isincluded in the Statement of Financial Activities(SoFA) when the charity
income becomesentitled 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 hasrelated expenditure the income and related expenditure is
expenditure reported grossin the SoFA.
Donationsand Voluntary income received by way of grants, donationsand giftsisincluded in the
legacies the SoFAwhen receivable and only when the Charity hasunconditional
entitlement to the income.
Tax reclaimson Income from tax reclaimsisincluded in the SoFAat the same time asthe
donationsand gifts gift/donation to which it relates.
Donated services These are only included in income (with an equivalent amount in expenditure)
and facilities where the benefit to the Charity isreasonably quantifiable, measurable and
material.
Volunteer help The value of any volunteer help received isnot included in the accounts.
Investment income Thisisincluded in the accountswhen receivable.
Gains/(losses) on Thisincludesany gain or lossresultingfrom revaluinginvestmentsto market value
revaluation of fixed at the end of the year.
assets
Gains/(losses) on Thisincludesany gain or losson the sale of investments.
investment assets

Spike Print Studio Limited for the year ended 31 March 2022

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Expenditure

Recognition of Expenditure isrecognised on an accrualsbasis. Expenditure includesany VATwhich expenditure cannot be fully recovered, and isreported aspart of the expenditure to which it relates. Expenditure on These comprise the costsassociated with attractingvoluntary income, fundraising raisingfunds tradingcostsand investment management costs. Expenditure on These comprise the costsincurred by the Charity in the delivery of itsactivitiesand charitable activities servicesin the furtherance of itsobjects, includingthe makingof grantsand governance costs. Grantspayable All grant expenditure isaccounted for on an actual paid basisplusan accrual for grantsthat have been approved by the trusteesat the end of the year but not yet paid.

Other expenditure These are support costsnot allocated to aparticular activity.

Taxation

The charity isexempt from corporation tax on itscharitable activities.

Tangible fixed assetsand depreciation

Depreciation isprovided at the followingannual ratesin order to write off each asset over itsestimated useful life:

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

Stocks

Stock isincluded at the lower of cost or net realisable value. Donated itemsof stock are recognised at fair value which isthe amount the charity would have been willingto pay for the itemson the open market.

Trade and other debtors

Trade and other debtorsare recognised at the settlement amount due after any trade discount offered. Prepaymentsare valued at the amount prepaid net of any trade discountsdue.

Cash and cash equivalents

Cash and cash equivalentscomprise cash at bank and on hand, demand depositswith banksand other short-term highly liquid investmentswith original maturitiesof three monthsor lessand bank overdrafts. In the statement of financial position, bank overdraftsare shown within borrowingsor current liabilities. In the Statement of Cash Flows, cash and cash equivalentsare shown net of bank overdraftsthat are repayable on demand and form an integral part of the company'scash management.

Spike Print Studio Limited for the year ended 31 March 2022

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Trade and other creditors

Short term creditorsare measured at the transaction price. Other creditorsand provisionsare recognised where the charity hasapresent obligation resultingfrom apast event that will probably result in the transfer of fundsto athird party and the amount due to settle the obligation can be measured or estimated reliably. Creditorsand provisionsare normally recognised at their settlement amount after allowingfor any trade discountsdue.

Pension costs

The charity operatesadefined contribution plan for itsemployees. Adefined contribution plan isa pension plan under which the company paysfixed contributionsinto aseparate entity. Once the contributionshave been paid the company hasno further paymentsobligations. The contributionsare recognised asexpenseswhen they fall due. Amountsnot paid are shown in accrualsin the balance sheet. The assetsof the plan are held separately from the company in independently administered funds.

2 Company status

The company isaprivate company limited by guarantee and consequently doesnot have share capital. The company isapublic benefit entity.

Spike Print Studio Limited for the year ended 31 March 2022

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3 Statement of Financial Activities- prior year

3
Statement of Financial Activities- prior year
Income and endowmentsfrom:
Donationsand legacies
Charitable activities
Other tradingactivities
Other
Total
Expenditure on:
Raisingfunds
Charitable activities
Other
Total
Net income
Transfersbetween funds
Net income before other
gains/ (losses)
Other gainsand losses:
Net movement in funds
Reconciliation of funds:
Total fundsbrought forward
Total fundscarried forward
4
Income from donationsand legacies
Donationsreceived
Grantsreceived
Donated print sales		 Unrestricted
£
600
4,213
854
5,667		 Unrestricted
funds
2021
£
26,789
100,490
6,016
644
133,939
473
24,653
101,817
126,943
6,996
382
7,378
7,378
72,955
80,333
Restricted
£
-
62,966
-
62,966		 Restricted
funds
2021
£
30,000
-
-
-
30,000
-
-
29,618
29,618
382
(382)
-
-
-
-
Total
2022
£
600
67,179
854
68,633		 Total funds
2021
£
56,789
100,490
6,016
644
163,939
473
24,653
131,435
156,561
7,378
-
7,378
7,378
72,955
80,333
Total
2021
£
-
52,079
4,710
56,789

Spike Print Studio Limited for the year ended 31 March 2022 noTes To THe ACCoUnTs

23

5 Income from charitable activities

Membership
Learningprogramme
Editioning
Exhibitions& events
6
Income from other tradingactivities
Materials
Storage
7
Other income
Miscellaneousincome
8
Expenditure on raisingfunds
Fundraising trading costs
Materials
9
Expenditure on charitable activities
Expenditure on charitable
activities
Learningprogramme
Editioning
Exhibitions& events
Governance costs		 Unrestricted
£
31,336
104,535
354
4
136,229
Unrestricted
£
3,546
4,666
8,212
Unrestricted
£
244
244		 Total
2022
£
31,336
104,535
354
4
136,229
Total
2022
£
3,546
4,666
8,212
Total
2022
£
244
244		 Total
2021
£
36,343
62,928
365
854
100,490
Total
2021
£
968
5,048
6,016
Total
2021
£
644
644
Unrestricted
£
3,957
3,957
Unrestricted
£
50,966
2
-
50,968		 Total
2022
£
3,957
3,957
Total
2022
£
50,966
2
-
50,968		 Total
2021
£
473
473
Total
2021
£
23,984
308
361
24,653

Spike Print Studio Limited for the year ended 31 March 2022

noTes To THe ACCoUnTs

24

10 Other expenditure

10 Other expenditure
Marketing
Graphic designer
Direct costsof funded
projects
Exempt input tax
Employee costs
Premisescosts
Amortisation, depreciation,
impairment, profit/losson
disposal of fixed assets
General administrative costs
Legal and professional costs
11 Net income before transfers
Thisisstated after charging:
Depreciation of owned fixed assets
12 Staff costs
Salariesand wages
Pension costs		 Unrestricted
£
-
4,340
250
3,212
69,334
40,449
7,895
17,369
6,893
149,742		 Restricted
£
-
-
4,309
-
-
-
-
-
-
4,309
2022
£
7,895
2022
£
62,839
878
63,717		 Total
2022
£
-
4,340
4,559
3,212
69,334
40,449
7,895
17,369
6,893
154,051		 Total
2021
£
558
1,723
9,618
10,362
61,846
26,499
8,452
7,672
4,705
131,435
2021
£
8,452
2021
£
59,507
944
60,451

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

The average monthly number of full time equivalent employeesduringthe year wasasfollows:

Studio management
Cleaning		 2022
Number
5
1
6		 2021
Number
5
1
6

13 Trustee remuneration and expenses No remuneration waspayable to any of the trusteesin the current or prior period. No expenseshave been reimbursed to any of the trusteesin the current or prior period.

Spike Print Studio Limited for the year ended 31 March 2022

noTes To THe ACCoUnTs

25

14 Tangible fixed assets

14 Tangible fixed assets
Cost or revaluation
At 1 April 2021
Additions
At 31 March 2022
Depreciation and
impairment
At 1 April 2021
Depreciation charge for the
year
At 31 March 2022
Net book values
At 31 March 2022
At 31 March 2021
15 Stocks
Raw materialsand consumables
Finished goods
Carryingvalue analysed by activities
Editioning
Materials
16 Debtors
Trade debtors
VATrecoverable
Other debtors		 Studio
refurbishme
nt
£
15,139
-
15,139
3,028
1,514
4,542
10,597
12,111
2022
£
3,666
10,880
14,546
2022
£
10,880
3,666
14,546
2022
£
-
3,785
247
4,032		 Furniture,
fixings&
equipment
£
63,214
1,261
64,475
44,671
6,381
51,052
13,423
18,543		 Total
£
78,353
1,261
79,614
47,699
7,895
55,594
24,020
30,654
2021
£
3,419
10,880
14,299
2021
£
10,880
3,419
14,299
2021
£
1,450
-
669
2,119

Spike Print Studio Limited for the year ended 31 March 2022

noTes To THe ACCoUnTs

26

17 Creditors:

amountsfallingdue within one year

Creditors:
amountsfallingdue within one year
Trade creditors
Other taxesand social security
Other creditors
Accruals
Deferred income		 2022
£
2,164
567
141
2,349
5,792
11,013		 2021
£
-
4,046
183
4,145
12,732
21,106

Deferred income relatesto course feespaid in advance for coursesthat will run after year end.

18 Movement in funds

18 Movement in funds
At 1 April
2021
-
-
-
-
59,841
20,492
20,492
80,333		 Incoming
resources
(including
other
gains/ losses)
£
8,500
4,466
50,000
62,966
150,352
-
-
213,318		 Resources
expended
£		 Gross
transfers
£
(3,500)
(157)
(50,000)
(53,657)
58,809
(5,152)
(5,152)
-		 At 31
March
2022
£
5,000
-
-
Restricted funds:
Restricted income funds:
Lark Trust
Bristol City Council
ArtsCouncil England
Total
Unrestricted funds:
General funds
Designated funds:
Grant funded assets
Total
Total funds
-
(4,309)
-
(4,309)
(204,667)
-
-
(208,976)
5,000
64,335
15,340
15,340
84,675

Purposesand restrictionsin relation to the funds: Restricted funds: Lark Trust Peter Reddick Bursary and Alone Together exhibition Bristol City Council Community Mobile Print Project ArtsCouncil England Cultural Recovery Fund Designated funds: Grant funded assets Representsthe net book value of assetspurchased with grant funding

Spike Print Studio Limited for the year ended 31 March 2022

noTes To THe ACCoUnTs

27

19 Analysisof net assetsbetween funds

19 Analysisof net assetsbetween funds
Fixed assets
Net current assets
20 Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2021
£		 Unrestricted
funds
£
24,020
60,655
84,675
Cash flows
£		 Total
£
24,020
60,655
84,675
At 31
March
2022
£
54,367 (1,277) 53,090
54,367
54,367		 (1,277)
(1,277)		 53,090
53,090
21 Commitments
Operating lease commitments
Annual commitmentsunder non-cancellable operatingleasesare asfollows:
2022
Land and buildings
£
Operatingleaseswith expiry date:
Pension commitments
Defined contribution scheme
The pension cost charge to the company
amounted to:
Unpaid contributionsdue to the fund are
included in other creditorsand amounted to:
22 Related party disclosures
Controlling party		 2022
Other
£
2022
£
878
141		 2021
Land and buildings
£		 2021
Other
£
2021
£
944
184

The company islimited by guarantee and hasno share capital; thusno single party controlsthe company.

Spike Print Studio Limited for the year ended 31 March 2022

28

DeTAIleD sTATeMenT oF FInAnCIAl ACTIVITIes

Income and endowmentsfrom:
Donationsand legacies
Donationsreceived
Grantsreceived
Donated print sales
Charitable activities
Membership
Learningprogramme
Editioning
Exhibitions& events
Other tradingactivities
Materials
Storage
Other
Miscellaneousincome
Total income and endowments
Expenditure on:
Costsof other tradingactivities
Materials
Total of expenditure on raising
funds
Charitable activities
Learningprogramme
Editioning
Exhibitions& events
Total of expenditure on charitable
activities
Other expenditure
Marketing
Graphic designer
Direct costsof funded projects
Exempt input tax		 Unrestricte
d funds
2022
£
600
4,213
854
5,667
31,336
104,535
354
4
136,229
3,546
4,666
8,212
244
244
150,352
3,957
3,957
3,957
50,966
2
-
50,968
50,968
-
4,340
250
3,212
7,802		 Restricted
funds
2022
£
-
62,966
-
62,966
-
-
-
-
-
-
-
-
-
-
62,966
-
-
-
-
-
-
-
-
-
-
4,309
-
4,309		 Total funds
2022
£
600
67,179
854
68,633
31,336
104,535
354
4
136,229
3,546
4,666
8,212
244
244
213,318
3,957
3,957
3,957
50,966
2
-
50,968
50,968
-
4,340
4,559
3,212
12,111		 Total funds
2021
£
-
52,079
4,710
56,789
36,343
62,928
365
854
100,490
968
5,048
6,016
644
644
163,939
473
473
473
23,984
308
361
24,653
24,653
558
1,723
9,618
10,362
22,261

Spike Print Studio Limited for the year ended 31 March 2022

DeTAIleD sTATeMenT oF FInAnCIAl ACTIVITIes

29

Employee costs

Salaries/wages
Pension costs
Temporary staff
Premisescosts
Rent
Premisescleaning
General administrative costs,
includingdepreciation and
amortisation
Depreciation of Studio
refurbishment
Depreciation of Furniture, fixings
& equipment
Bank charges
Equipment expensed
Equipment leasingand hire
charges
Equipment repairsand
maintenance
General insurances
Information and publications
Postage and couriers
Software, ITsupport and related
costs
Stationery and printing
Subscriptions
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 gainson investments
Net income
Transfersbetween funds		 62,839
878
5,617
69,334
40,399
50
40,449
1,514
6,381
2,354
6,116
861
2,813
1,104
62
30
1,211
501
-
1,531
786
25,264
900
2,270
1,000
2,723
6,893
149,742
204,667
-
(54,315)
53,657		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,309
4,309
-
58,657
(53,657)		 62,839
878
5,617
69,334
40,399
50
40,449
1,514
6,381
2,354
6,116
861
2,813
1,104
62
30
1,211
501
-
1,531
786
25,264
900
2,270
1,000
2,723
6,893
154,051
208,976
-
4,342
-		 59,507
944
1,395
61,846
26,113
386
26,499
1,514
6,938
1,503
1,808
1,107
-
482
32
176
1,187
169
56
504
648
16,124
900
2,755
1,050
-
4,705
131,435
156,561
-
7,378
-

Spike Print Studio Limited for the year ended 31 March 2022

30

DeTAIleD sTATeMenT oF FInAnCIAl ACTIVITIes

Net income before other
gains/ (losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total fundsbrought forward
Total fundscarried forward		 (658)
-
(658)
80,333
79,675		 5,000
-
5,000
-
5,000		 4,342
-
4,342
80,333
84,675		 7,378
-
7,378
72,955
80,333