E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Company registration number: NI062998 Charity registration number: 102158
Blick Shared Studios
(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 28 February 2023
KPS Accountants Limited 50A Main Street Newcastle Co Down BT33 0AD
E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Blick Shared Studios
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 |
| Independent Examiner's Report | 3 to 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 11 |
E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Blick Shared Studios
Reference and Administrative Details
Trustees Timothy John Brundle Catherine McGinnis Alistair Fee John Patrick Haran Charity Registration Number 102158 Company Registration Number NI062998 The charity is incorporated in Northern Ireland. Registered Office 51 Malone Road Belfast Co Antrim BT9 6RY Independent Examiner KPS Accountants Limited 50A Main Street Newcastle Co Down BT33 0AD
Page 1
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Blick Shared Studios
Trustees' Report
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 28 February 2023.
Objectives and activities
Objects and aims
The objects of the Company are
(a) the creation of training and employment opportunities by the provision of workspace, studio or incubation units for use by artists and craftspeople on favourable terms,
(b) the provision of technical assistance or business advice or consultancy to artists and craftspeople in order to provide training and employment opportunities for unemployed people,
(c) to advance the education of the public in the knowledge, understanding and appreciation of arts and crafts by establishing and operation a permanent gallery and multi-purpose space for the holding of exhibitions, cultural events, workshops, seminars and classes, and
(d) the provision of an information and support network for emerging artists and crafts people.
The Charity provided a variety of events for resident companies and local businesses working in the creative industries with the aim of helping these businesses to learn, network and grow their business.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on 19 November 2023 and signed on its behalf by:
T Brundle 19/11/2023 20:01:49
Timothy Brundle
......................................... Timothy John Brundle Trustee
Page 2
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Blick Shared Studios
Independent Examiner's Report to the trustees of Blick Shared Studios ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 28 February 2023.
Responsibilities and basis of report
Respective responsibilities of trustees and examiner
As the charity trustees (and also the directors of the company 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. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
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follow the procedures laid down in the general Directions given by the Charity Commission for Northern
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Ireland under section 65(9)(b) of the Charities Act; and • state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 386 of the Companies Act 2006
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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 4. That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Page 3
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Blick Shared Studios
Independent Examiner's Report to the trustees of Blick Shared Studios ('the Company')
N Toner 19/11/2023 14:04:41 Nicole Toner
...................................... Nicole Toner KPS Accountants Limited 50A Main Street Newcastle Co Down BT33 0AD
19 November 2023
Page 4
E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Blick Shared Studios
Statement of Financial Activities for the Year Ended 28 February 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
| Unrestricted | Total | |||||
|---|---|---|---|---|---|---|
| funds | 2023 | |||||
| Note | £ | £ | ||||
| Income and Endowments from: | ||||||
| Donations and legacies | 2 | 2,347 | 2,347 | |||
| Charitable activities | 3 | 141,146 | 141,146 | |||
| Total income | 143,493 | 143,493 | ||||
| Expenditure on: | ||||||
| Raising funds | (1,900) | (1,900) | ||||
| Charitable activities | (134,148) | (134,148) | ||||
| Total expenditure | (136,048) | (136,048) | ||||
| Net income | 7,445 | 7,445 | ||||
| Net movement in funds | 7,445 | 7,445 | ||||
| Reconciliation of funds | ||||||
| Total funds brought forward | 84,846 | 84,846 | ||||
| Total funds carried forward | 11 | 92,291 | 92,291 | |||
| Unrestricted | Total | |||||
| funds | 2022 | |||||
| Note | £ | £ | ||||
| Income and Endowments from: | ||||||
| Donations and legacies | 2 | 28,403 | 28,403 | |||
| Charitable activities | 3 | 122,900 | 122,900 | |||
| Total income | 151,303 | 151,303 | ||||
| Expenditure on: | ||||||
| Raising funds | (6,890) | (6,890) | ||||
| Charitable activities | (134,332) | (134,332) | ||||
| Total expenditure | (141,222) | (141,222) | ||||
| Net income | 10,081 | 10,081 | ||||
| Net movement in funds | 10,081 | 10,081 | ||||
| Reconciliation of funds | ||||||
| Total funds brought forward | 74,765 | 74,765 | ||||
| Total funds carried forward | 11 | 84,846 | 84,846 |
The notes on pages 7 to 11 form an integral part of these financial statements. Page 5
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Blick Shared Studios
(Registration number: NI062998) Balance Sheet as at 28 February 2023
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Note | £ | £ | ||||
| Fixed assets | ||||||
| Tangible assets | 7 | - | 637 | |||
| Current assets | ||||||
| Debtors | 8 | 12,467 | 2,786 | |||
| Cash at bank and in hand | 9 | 90,547 | 92,424 | |||
| 103,014 | 95,210 | |||||
| Creditors: Amounts falling due within one year | 10 | (10,723) | (11,001) | |||
| Net current assets | 92,291 | 84,209 | ||||
| Net assets | 92,291 | 84,846 | ||||
| Funds of the charity: | ||||||
| Unrestricted income funds | ||||||
| Unrestricted funds | 92,291 | 84,846 | ||||
| Total funds | 11 | 92,291 | 84,846 |
For the financial year ending 28 February 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 5 to 11 were approved by the trustees, and authorised for issue on 19 November 2023 and signed on their behalf by:
T Brundle 19/11/2023 20:01:49
Timothy Brundle
.........................................
Timothy John Brundle Trustee
The notes on pages 7 to 11 form an integral part of these financial statements. Page 6
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Blick Shared Studios
Notes to the Financial Statements for the Year Ended 28 February 2023
1 Accounting policies
Statement of compliance
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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Blick Shared Studios meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Income and endowments
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Page 7
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Blick Shared Studios
Notes to the Financial Statements for the Year Ended 28 February 2023
Asset class
Fixtures and fittings
Depreciation method and rate 20% on cost
2 Income from donations and legacies
| 2 Income from donations and legacies |
|||||
|---|---|---|---|---|---|
| Unrestricted | |||||
| funds | Total | ||||
| General | funds | ||||
| £ | £ | ||||
| Grants, including capital grants; | |||||
| Government grants | 1,800 | 1,800 | |||
| Grants from other charities | 547 | 547 | |||
| Total for 2023 | 2,347 | 2,347 | |||
| Total for 2022 | 28,403 | 28,403 |
3 Income from charitable activities
| Unrestricted | |||||||
|---|---|---|---|---|---|---|---|
| funds | Total | ||||||
| General | funds | ||||||
| £ | £ | ||||||
| 141,146 | 141,146 | ||||||
| Total | for | 2023 | 141,146 | 141,146 | |||
| Total | for | 2022 | 122,900 | 122,900 |
4 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
Page 8
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Blick Shared Studios
Notes to the Financial Statements for the Year Ended 28 February 2023
5 Staff costs
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| No | No | ||||||
| Number of employees | 1 | 1 | |||||
| No employee received emoluments of more than £60,000 during the year. |
6 Taxation
The charity is a registered charity and is therefore exempt from taxation.
7 Tangible fixed assets
| 7 Tangible fixed assets |
||||
|---|---|---|---|---|
| Furniture and | ||||
| equipment | Total | |||
| £ | £ | |||
| Cost | ||||
| At 1 March 2022 | 17,839 | 17,839 | ||
| At 28 February 2023 | 17,839 | 17,839 | ||
| Depreciation | ||||
| At 1 March 2022 | 17,202 | 17,202 | ||
| Charge for the year | 637 | 637 | ||
| At 28 February 2023 | 17,839 | 17,839 | ||
| Net book value | ||||
| At 28 February 2023 | - | - | ||
| At 28 February 2022 | 637 | 637 |
Page 9
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Blick Shared Studios
Notes to the Financial Statements for the Year Ended 28 February 2023
8 Debtors
| 8 Debtors |
|||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Trade debtors | 2,722 | 2,748 | |||
| Accrued income | - | 38 | |||
| Other debtors | 9,745 | - | |||
| 12,467 | 2,786 |
The above other debtors figure relates to service charges received in March 2023 for the years ended 2022,2021 and 2022.
9 Cash and cash equivalents
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Cash | on hand | 60 | 37 | |||
| Cash | at bank | 90,487 | 92,387 | |||
| 90,547 | 92,424 |
10 Creditors: amounts falling due within one year
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Trade creditors | 7,548 | 8,440 | |||
| Other taxation and social security | 1,767 | 1,590 | |||
| Accruals | 1,408 | 971 | |||
| 10,723 | 11,001 |
11 Funds
| 11 Funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Balance at 28 | |||||||||
| Balance at 1 | Incoming | Resources | February | ||||||
| March 2022 | resources | expended | 2023 | ||||||
| £ | £ | £ | £ | ||||||
| **Unrestricted ** | funds | ||||||||
| General | 84,846 | 143,493 | (136,048) | 92,291 |
Page 10
E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Blick Shared Studios
Notes to the Financial Statements for the Year Ended 28 February 2023
| Balance at 28 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Balance at 1 | Incoming | Resources | February | |||||
| March 2021 | resources | expended | 2022 | |||||
| £ | £ | £ | £ | |||||
| Unrestricted funds | ||||||||
| General | 74,765 | 151,303 | (141,222) | 84,846 | ||||
| 12 Analysis of net assets between funds | ||||||||
| Total funds | ||||||||
| Unrestricted | at 28 | |||||||
| funds | February | |||||||
| General | 2023 | |||||||
| £ | £ | |||||||
| Current assets | 103,014 | 103,014 | ||||||
| Current liabilities | (10,723) | (10,723) | ||||||
| Total net assets | 92,291 | 92,291 | ||||||
| Total funds | ||||||||
| Unrestricted | at 28 | |||||||
| funds | February | |||||||
| General | 2022 | |||||||
| £ | £ | |||||||
| Tangible fixed assets | 637 | 637 | ||||||
| Current assets | 95,210 | 95,210 | ||||||
| Current liabilities | (11,001) | (11,001) | ||||||
| Total net assets | 84,846 | 84,846 |
Page 11
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Blick Shared Studios
Statement of Financial Activities by fund for the Year Ended 28 February 2023
Unrestricted Funds
| Unrestricted Funds | |||||
|---|---|---|---|---|---|
| Total | Total | ||||
| Unrestricted | Unrestricted | ||||
| Funds | Funds | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Income and Endowments from: | |||||
| Donations and legacies | 2,347 | 28,403 | |||
| Charitable activities | 141,146 | 122,900 | |||
| Total income | 143,493 | 151,303 | |||
| Expenditure on: | |||||
| Raising funds | (1,900) | (6,890) | |||
| Charitable activities | (134,148) | (134,332) | |||
| Total expenditure | (136,048) | (141,222) | |||
| Net income | 7,445 | 10,081 | |||
| Net movement in funds | 7,445 | 10,081 | |||
| Reconciliation of funds | |||||
| Total funds brought forward | 84,846 | 74,765 | |||
| Total funds carried forward | 92,291 | 84,846 |
This page does not form part of the statutory financial statements. Page 12
E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Blick Shared Studios
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Total | Total | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Income and Endowments from: | |||||
| Donations and legacies (analysed below) | 2,347 | 28,403 | |||
| Charitable activities (analysed below) | 141,146 | 122,900 | |||
| Total income | 143,493 | 151,303 | |||
| Expenditure on: | |||||
| Raising funds (analysed below) | (1,900) | (6,890) | |||
| Charitable activities (analysed below) | (134,148) | (134,332) | |||
| Total expenditure | (136,048) | (141,222) | |||
| Net income | 7,445 | 10,081 | |||
| Net movement in funds | 7,445 | 10,081 | |||
| Reconciliation of funds | |||||
| Total funds brought forward | 84,846 | 74,765 | |||
| Total funds carried forward | 92,291 | 84,846 |
This page does not form part of the statutory financial statements. Page 13
E-Sign ID: d84d00f6-8388-4530-b597-9083a9dc3fa8
Blick Shared Studios
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Total | Total | ||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| £ | £ | ||||
| Donations and legacies | |||||
| UK Government grants | 1,800 | 18,310 | |||
| Grants - other agencies | 547 | 10,093 | |||
| 2,347 | 28,403 | ||||
| Charitable activities | |||||
| Rental income | 140,696 | 115,650 | |||
| Other income | 450 | 7,250 | |||
| 141,146 | 122,900 | ||||
| Raising funds | |||||
| Event expenses | (1,900) | (6,890) | |||
| (1,900) | (6,890) | ||||
| Charitable activities | |||||
| Hospitality | (70) | - | |||
| Bank charges | (358) | (278) | |||
| Wages and salaries | (32,071) | (32,880) | |||
| Bookkeeping cost | (12,367) | (9,997) | |||
| Rent and rates | (54,852) | (54,930) | |||
| Light, heat and power | (9,404) | (9,443) | |||
| Insurance | (2,742) | (2,889) | |||
| Repairs and maintenance | (8,637) | (10,956) | |||
| Telephone and fax | (5,855) | (5,116) | |||
| Event expenses | (9) | (264) | |||
| Computer software and maintenance costs | (1,318) | (1,309) | |||
| Printing, postage and stationery | (952) | (1,519) | |||
| Sundry expenses | (287) | (804) | |||
| Travel and subsistence | (1,115) | (132) | |||
| Advertising | (557) | (293) | |||
| Accountancy fees | (1,050) | (972) | |||
| Bad debts written off | (1,867) | - | |||
| Depreciation of fixtures and fittings | (637) | (2,550) | |||
| (134,148) | (134,332) |
This page does not form part of the statutory financial statements. Page 14
This Document has been Signed with a secure electronic signature via E-Sign.
Envelope Details
| Title | Blick Shared Studios 28.02.23 |
|---|---|
| Author | Nicole Toner (ntoner@kpsca.co.uk) |
| Envelope Created on | Sun, 19 Nov 2023 14:04:31 |
| Envelope ID | d84d00f6-8388-4530-b597-9083a9dc3fa8 |
Document Details
| Title | Blick_Charity_Accounts_28.pdf |
|---|---|
| Digital Fingerprint | e540b1db-27c7-48e6-a868-34a411742d42 |
Document Signers Scan/Click the QR Code to view signature information
| Name | Timothy Brundle |
|---|---|
| t.brundle@ulster.ac.uk | |
| Status | SIGNEDat Sun, 19 Nov 2023 20:01:49 GMT(+0000) |
| Signature Fingerprint | db338c3d-aa02-4d03-9935-1ed05a5c10ea |
| Name | Nicole Toner |
|---|---|
| ntoner@kpsca.co.uk | |
| Status | SIGNEDat Sun, 19 Nov 2023 14:04:41 GMT(+0000) |
| Signature Fingerprint | 351b1007-95dd-438a-a557-2cb7963d9e44 |
| Document History | |
|---|---|
| Sun, 19 Nov 2023 20:01:50 | Timothy BrundleSigned the Document (IP: 86.189.175.191) |
| Sun, 19 Nov 2023 14:04:42 | Nicole TonerSigned the Document (IP: 151.2.214.200) |