2023-03-31-accounts

Charity registration number 1189408

Company registration number 06424545 (England and Wales)

CREATIVE STUDIOS CUMBRIA LIMITED

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CREATIVE STUDIOS CUMBRIA LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms K J Kolbe Ms L A R Slater Secretary Ms K J Kolbe Charity number 1189408 Company number 06424545 Registered office Cooke's Studios 104 Abbey Road Barrow-in-Furness LA14 5QR Independent examiner Melville & Co Unit 17-18, Trinity Enterprise Centre Furness Business Park Ironworks Road Barrow-in-Furness LA14 2PN

CREATIVE STUDIOS CUMBRIA LIMITED

CONTENTS

	Page
Trustees' report	1 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Statement of cash flows	8
Notes to the financial statements	9 - 16

CREATIVE STUDIOS CUMBRIA LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "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 2019).

Objectives and activities

The objectives are, for the public benefit, to promote the arts and to advance education in the arts in particular but not exclusively by:

Providing premises, space and activities for local front-line groups to support the arts and artistic development of local people, particularly those from disadvantaged groups.

Activities undertaken for public benefit in relation to objects

The policies adopted in furtherance of these objects are to run a vibrant, multi-purpose, creative community venue that provides a range of affordable, secure, high quality spaces for creative organisations to thrive: a place for people to come together, learn and grow through the enjoyment of film, radio, music, dance, theatre, digital media and their shared heritage.

There has been no change in these policies during the year. In planning and carrying out these activities the Board and management are always aware that such activities must be for the public benefit. As such the Board confirms that they will have due regard to the Charity Commission’s published guidance on the ‘public benefit’ motive.

Achievements and performance

Significant activities and achievements against objectives

Report of the Management Committee for the year ended 31 March 2023

Creative Studios Cumbria is the company behind Cooke’s Studios - A creative community, where talent is nurtured and people thrive.

Creative Studios Cumbria (CSC) was established in 2007 to develop and run Cooke’s Studios, named after the Victorian furniture warehouse which once occupied this impressive space. It was born out of a community-led drive for community space to offer learning and personal development through creativity, fun, exercise and stimulation. Many thousands of Barrow’s residents, including its most vulnerable and at risk individuals, benefit from the support of the charities housed here. It has operated as a not-for-profit Company Limited by Guarantee up until May 2020 when it became a registered charity in order to help it meet a growing need for more space and support services.

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CREATIVE STUDIOS CUMBRIA LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Chairperson’s Statement

We were delighted to continue to grow audiences and users and especially to successfully raise £490,000 in Arts Council Capital funding via our sister company Signal Film and Media, the charity which delivers all the activity in the space, to complete the refurbishment of 102 Abbey Road, including completion of the third floor space. In order to secure this investment we will transfer Creative Studios Cumbria’s leasehold and interest in the building over to Signal Film and Media in Autumn 2023.

Kerry Kolbe Chairperson, Creative Studios Cumbria December 2022

Our Creative Community

We are proud to host and support a wide variety of creative talent, from creative community groups to budding micro-businesses, our tenants include:

CANDO FM

On the ground floor CANDO provides a unique, distinctive community FM and internet radio service to the Furness area, run by the community it serves. Content is specifically tailored to local concerns, viewpoints and interests, news and current affairs, with the aim of expanding its listener’s horizons whilst promoting local identity and providing opportunities for confidence building, social interaction and development of new skills and growth.

Signal Film + Media

Based in the new 102 exhibition and training spaces, with further workshop rooms and edit suites in 104, Signal is an award-winning charity offering a year-round programme of film, media and arts activities to thousands of residents annually. It specialises in working with disadvantaged young people and marginalised adults, using creativity as a tool to stimulate confidence and self esteem and to improve life chances. Its funders often use it as a case study for best practice and include Arts Council England, National Lottery Heritage Fund, Esmee Fairbairn Foundation, Paul Hamlyn Foundation and the National Lottery Community Fund.

Theatre Factory

Based on the first floor of 104, Theatre Factory is an Arts Council England National Portfolio Organisation that provides a substantial programme of drama activities for 100s of young people of all ages each week, especially those from disadvantaged backgrounds and those with disabilities. All of their projects are free to participants with lots of ways for children to get involved, increase confidence and make new friends.

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CREATIVE STUDIOS CUMBRIA LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Free Spirit Academy

Located on the ground and second floors of 104, around 300 people per week attend Free Spirit’s daily classes for children from toddling to 18 years and for adults, covering a wide range of dance styles and in acrobatics. Participants work towards dance examinations with between 100-200 passing qualifications each year, much of this work moving online during COVID. Free Spirit pride themselves in offering a pathway for aspiring young dancers to learn to become dance teachers by offering them training and examinations.

Cooke’s building charities also work closely with other community organisations and consult front-line agencies to ensure they reach those most in need (including: Children’s Services; Inspira; Hawthwaite House Children’s Home; Silverdale House Homeless Shelters; Pupil Referral Unit; Night Stop Homeless Charity; Barrow Schools; Age UK; Mind). Our community partners agree there is a desperate need for our activities to reach the most vulnerable and disadvantaged in our community.

Furness Multi-Cultural Community Forum & Youth Club

A grassroots community group that delivers a raft of engagement activities, events, support and advocacy, training and youth work, including providing essential support to asylum seekers arriving in the town’s newly opened asylum hotels.

Sir John Fisher Foundation

Local grant-giving foundation which distributes circa £1.5m per year to charities working to improve the lives of disadvantaged people locally.

The Duke of Edinburgh Hotel

A well established business which adjoins the Cooke’s Studios. Having reached maximum capacity and experiencing high demand, they worked with CSC to agree a lease for the top floor of Cooke’s Buildings. As a result they have been able to increase the number of rooms available and accommodate more visitors to Barrow, whilst CSC benefits from rental income.

Growing Our Impact

1 - Space for culture

When the building opened in December 2011 only half of its total capacity was in a habitable state. Since then we’ve worked in a timely, organic manner to find tenants and use our small amount of reserves to steadily bring the rest of the available space into use. In 2017 Cooke’s Studios at 104 Abbey Road was completely filled, with spaces rented out to a mix of community and private tenants generating sufficient income to ensure the building is viable long term.

2 - Diversity and Inclusion

CSC is a socially engaged charity, committed to creating a supportive and inclusive environment for our community and tenants. We are keen to ensure our offer reflects our diverse society. As our spaces and offer grow, we are committed to ensuring the positive impact of this is felt throughout our community, particularly amongst marginalised or underrepresented groups.

3 - Environmental responsibility

Global heating and biodiversity loss are among the most significant and urgent issues of our time. We take our environmental responsibilities seriously and are committed to playing our part in tackling the climate emergency. We will work towards becoming a net zero carbon charity by 2030. We aim to use natural resources as efficiently as possible and reduce our environmental impact wherever possible including reducing our energy consumption and waste.

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CREATIVE STUDIOS CUMBRIA LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

The results for the year are summarised in the Statement of Financial Activities (income and expenditure account) on page 8. Incoming resources decreased by £2,046 (3%) to £74,594,

Expenditure totalled £71,798, a decrease of £1,769 (2%). This lead to an increase in the total fund balances of £2,796 in the year. They now total £530,729, of which the unrestricted fund totals £407,414.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee, not having share capital, and is governed by Memorandum and Articles of Association dated 8 January 2020. It's company registered number is 06424545. On 7 May 2021 the company became a registered charity with charity number 1189408.

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

Ms L A R Slater

Recruitment and appointment of trustees

The Board consists of people with a considerable level of expertise in the area, who are able to draw on their past experience at a senior level in relevant disciplines.

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

The trustees' report was approved by the Board of Trustees.

..............................

Ms K J Kolbe Trustee

Date: ............................................. Dec 22, 2023

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CREATIVE STUDIOS CUMBRIA LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF CREATIVE STUDIOS CUMBRIA LIMITED

I report to the trustees on my examination of the financial statements of Creative Studios Cumbria Limited (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

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

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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

Melville & Co

Melville & Co (Dec 22, 2023 10:37 GMT)

Melville & Co

Chartered Accountants

Unit 17-18, Trinity Enterprise Centre Furness Business Park Ironworks Road Barrow-in-Furness LA14 2PN

Dated: ......................... Dec 22, 2023

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CREATIVE STUDIOS CUMBRIA LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Charitable activities 2 74,594 - Charitable activities 3 (3,487) 75,137 Other expenditure 7 148 - Total expenditure (3,339) 75,137 Net income/(expenditure) and movement in funds 77,933 (75,137) Reconciliation of funds: Fund balances at 1 April 2022 45,382 482,551 Fund balances at 31 March 2023 123,315 407,414	Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 74,594 74,140 2,500 71,650 48,772 24,621 148 174 - 71,798 48,946 24,621 2,796 25,194 (22,121) 527,933 20,188 504,672 530,729 45,382 482,551	Total 2022 £ 76,640
		73,393 174
		73,567
		3,073 524,860
		527,933

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

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CREATIVE STUDIOS CUMBRIA LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023

Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets/(liabilities) Total assets less current liabilities The funds of the charity Restricted income funds 12 Unrestricted funds	2023 £ 11,183 36,202 47,385 33,670	£ 517,014 13,715 530,729 407,414 123,315 530,729	2022 £ 20,511 16,722 37,233 51,633	£ 542,333 (14,400) 527,933 482,551 45,382 527,933

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

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

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

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

Dec 22, 2023

The financial statements were approved by the trustees on .........................

	Loren Slater
..............................	.............................. Loren Slater (Dec 22, 2023 10:36 GMT)
Ms K J Kolbe	Ms L A R Slater
Trustee	Trustee

Company registration number 06424545 (England and Wales)

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CREATIVE STUDIOS CUMBRIA LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes Cash flows from operating activities Cash generated from operations 17 Investing activities Purchase of tangible fixed assets Net cash used in investing activities Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2023 £ (4,754)	2022 £ £ £ 24,234 39,269 (123,493) (4,754) (123,493) - - 19,480 (84,224) 16,722 100,946 36,202 16,722

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Creative Studios Cumbria Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Cooke's Studios, 104 Abbey Road, Barrow-in-Furness, LA14 5QR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

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

1.3 Charitable funds

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

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

All expenditure is accounted for when incurred. Charitable expenditure includes the costs of all activities carried out, with the exception of costs incurred for governance purposes.

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

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

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

Improvements to property

Straight line over 30 years

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

1.7 Impairment of fixed assets

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

1.8 Cash and cash equivalents

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

1.9 Financial instruments

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

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

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

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Charitable activities

	Charitable	Charitable
	Income	Income
	2023	2022
	£	£
Grants	9,030	7,083
Rental income	65,564	69,557
	74,594	76,640
Analysis by fund
Unrestricted funds	74,594	74,140
Restricted funds	-	2,500
Grants
Cumbria County Council	-	1,500
Sir John Fisher Foundation	9,000	-
Barrow Barough Council - Omicron Hospitality and Leisure	-	4,000
Barrow BID - Business Premises Scheme	-	1,000
Arts Council England - Boosting Barrow's Creativity	-	500
Other	30	83
	9,030	7,083

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Expenditure on charitable activities

Direct costs Water rates Cleaning Light and heat Repairs and maintenance Computer running costs Professional fees Facilities management fees Book-keeping fees Bank charges Insurance Telephone Sundry expenses Share of support and governance costs (see note 4) Support Governance Analysis by fund Unrestricted funds Restricted funds Support costs Support costs Governance costs £ £ Depreciation 30,073 - Accountancy - 1,839 Corporation tax - - 30,073 1,839 Analysed between Charitable activities 30,073 1,839

Heading #ac982 Heading #ac982 2023 2022 £ £ (2,228) 603 4,240 3,618 14,345 14,608 8,643 7,545 (21) 639 5,632 1,657 3,370 5,230 685 1,530 96 83 3,839 1,514 593 1,088 544 3,360 39,738 41,475 30,073 29,568 1,839 2,350 71,650 73,393 (3,487) 48,772 75,137 24,621 71,650 73,393 2023Support costs Governance costs 2022 £ £ £ £ 30,073 29,568 - 29,568 1,839 - 2,368 2,368 - - (18) (18) 31,912 29,568 2,350 31,918 31,912 29,568 2,350 31,918

4 Support costs

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

5 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6 Employees

The average monthly number of employees during the year was:

	2023	2022
	Number	Number
Total	-	-

There were no employees whose annual remuneration was more than £60,000.

7 Other expenditure

	Unrestricted	Unrestricted
	funds	funds
	2023	2022
Financing costs	148	174

8 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Tangible fixed assets

Tangible fixed assets
	Improvements to property
		£
Cost
At 1 April 2022		789,497
Additions		4,754
At 31 March 2023		794,251
Depreciation and impairment
At 1 April 2022		247,164
Depreciation charged in the year		30,073
At 31 March 2023		277,237
Carrying amount
At 31 March 2023		517,014
At 31 March 2022		542,333
Debtors
	2023	2022
Amounts falling due within one year:	£	£
Trade debtors	7,272	13,007
Other debtors	61	155
Prepayments and accrued income	3,850	7,349
	11,183	20,511
Creditors: amounts falling due within one year
	2023	2022
	£	£
Corporation tax payable	-	384
Other creditors	10,000	25,134
Accruals and deferred income	23,670	26,115
	33,670	51,633

10 Debtors

11 Creditors: amounts falling due within one year

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Restricted funds

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

	At 1 April	Incoming	Resources	At 31 March
	2022	resources	expended	2023
	£	£	£	£
	482,551	-	(75,137)	407,414
Previous year:	At 1 April	Incoming	Resources	At 31 March
	2021	resources	expended	2022
	£	£	£	£
	504,672	2,500	(24,621)	482,551

13 Unrestricted funds

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

	At 1 April	Incoming	Resources	At 31 March
	2022	resources	expended	2023
	£	£	£	£
General funds	45,382	74,594	3,339	123,315
Previous year:	At 1 April	Incoming	Resources	At 31 March
	2021	resources	expended	2022
	£	£	£	£
General funds	20,188	74,140	(48,946)	45,382

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CREATIVE STUDIOS CUMBRIA LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14 Analysis of net assets between funds

Unrestricted Restricted funds funds 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Tangible assets 109,600 407,414 Current assets/(liabilities) 13,715 - 123,315 407,414 Unrestricted Restricted funds funds 2022 2022 £ £ Fund balances at 31 March 2022 are represented by: Tangible assets 116,047 426,286 Current assets/(liabilities) (70,665) 56,265 45,382 482,551	Total 2023 £ 517,014 13,715 530,729 Total 2022 £ 542,333 (14,400) 527,933

The restricted fund relates to the refurbishment of Cooke's Studios.

15 Related party transactions

Signal Film & Media Limited is a charitable company under the control of the trustees of Creative Studios Cumbria Limited. During the year the charity received rent of £5,656 (2022 - £8,495) from Signal Film & Media Limited.

16 Analysis of changes in net funds

The charity had no material debt during the year.

17 Cash generated from operations Surplus for the year Adjustments for: Depreciation and impairment of tangible fixed assets Movements in working capital: Decrease/(increase) in debtors (Decrease)/increase in creditors Cash generated from operations	2023 £ 2,796 30,073 9,328 (17,963) 24,234	2022 £ 3,073 29,568 (3,105) 9,733 39,269

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Creative Studios Cumbria Limited - 31 March 2023

Final Audit Report

2023-12-22

Created: 2023-12-22 By: Melville & Co Accountants ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAAg037FQmmeGEv-TBxpQ70CUaM_gE8ned4

"Creative Studios Cumbria Limited - 31 March 2023" History

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