E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Company registration number: N1062998 Charity registration number.. 102158 Blick Shared Studios (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 28 February 2025 KPS Accountants Limited 50A Main Street Newcastie Co Down BT33 OAD
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Contents Reference and Administrative Details Trustees, Report 2to3 Independent Examiner's Report 4t05 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8t012
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Reference and Administrative Details Trustees Catherine McGinnis Alistair Fee lan Roland Pitt David James Wo(Kls Gillian Caves Liam Mcgarry 102158 Charity Registration Number Company Registration Number N1062998 The charity is incorporated in Northern Ireland. 46 Hill Strt Belfast Co Antrim BT12LB Registered Office Independent Examiner KPS Accountants Limited 50A Main Street NewcasUe Co Down BT33 OAD Page 1
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 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 2025. Objectives and activities Objects and aims The objects of the Company are (al 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, (bl 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, (cl to advance the education of the public in the knowledge, understanding and appreciation of arts and crafts by establishing and operation a pemianent 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. Financial review In 2025, Blick Studios had to move from their long-time premises on Malone Road. New premises were found on Great Northern Street. The move resulted in a temporary drop in rental revenue and set-up costs (mix of repairs, maintenance and fixed assets) for Great Northem Street., and a compensatory payment for moving out of Malone Road. Trustees and officers The trustees and offirS serving during the year and since the year end were as follows.. Trustees.. Timothy John Brundle (resigned 30 April 2025) Catherine McGinnis Alistair Fee John Patrick Haran (resigned 1 April 2025) lan Roland Pitt (appointed 3 April 2025) David James Woods (appointed 1 April 2025) Gillian Caves (appointed 1 April 2025) Liam Mcgary (appointed 1 April 2025) Page 2
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Trustees. Report Structure, governance and management Governing document The charity is controlled by its goveming 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. Statement of Responsibilities The trustees (who are also the directors of Blick Shared Studios for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP" make judgements and estimates that are reasonable and prudent.. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitsble company and enable them to ensure that the financial statements comply with the Companies Act 2006and Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charitsble company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The annual report was approved by the trustees of the charity on 28 November 2025 and signed on its behalf by.. C McGinnis Catherine McGinnis Trustee Page 3
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 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 2025. 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., follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act., and state whether particular matters have come to my attention. Basis of independent examinerfs 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 conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordance with sects.on 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. 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 4
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Independent Examiner's Report to the trustees of Blick Shared Studios ('the Company.) N Toner M_&To Nicole Toner ACCA KPS Accountants Limited 50A Main Street Newcastle Co Down BT33 OAD 28 November 2025 Page 5
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Statement of Financial Activities for the Year Ended 28 February 2025 {Including Income and Expenditure Account and Ststement of Totsl Recognised Gains and Losses) Unrestricted funds Total 2025 Note Income and Endowments from: Donations and legacies Charitable activities 2,499 129,125 2,499 129,125 Total income 131,624 131,624 Expenditure on: Raising funds Charitable activits'es {60) 134,344 (60) 134,344 Total expenditure 134,404 134,404 Net expenditure 2,780 2,780 Net movement in funds (2,780) (2,7801 Reconciliation of funds Total funds brought forward 87,083 87,083 Total funds carried forward 84,303 Unrestricted funds 84,303 Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities 1,600 129,619 1,600 129,619 Total income 131,219 131,219 Expenditure on: Raising funds Charitable activities (670) 135,757 (6701 135,757 Total expenditure 136,427 136,427 Net expenditure 5,208 (5,208 Net movement in funds (5,208) (5,2081 Reconciliation of funds Total funds brought forward 92,291 92,291 Total funds carried forward 11 87,083 87,083 The notes on pages 8 to 12 form an integral part of these financial statements. Page 6
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios (Registration number: N1062998) Balance Sheet as at 28 February 2025 2025 2024 Note Fixed assets Tangible assets 8,132 Current assets Debtors Cash at bank and in hand 6,246 77,582 4,004 92,737 83,828 96,741 Creditors: Amounts falling due within one year 10 7,657 (9,658 Net current assets 76,171 87,083 Net assets 84,303 87,083 Funds of the charity: Unrestricted income funds Unrestricted funds 84,303 87,083 Total funds 11 84,303 87,083 For the financial year ending 28 February 2025 the charity VRS entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors. responsibilities.. 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 6 to 12 were approved by the trustees, and authorised for issue on 28 November 2025 and signed on their behalf by: C McGinnis Catherine McGinnis Trustee The notes on pages 8 to 12 form an integral part of these financial statements. Page 7
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Notes to the Financial Statements for the Year Ended 28 February 2025 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 IFRS 1021 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 acb"vities. 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 8
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Notes to the Financial Statements for the Year Ended 28 February 2025 Asset class Fixtures and fittings Depreciation meth¢)d and rate 20°/0 on cost 2 Income from donations and legacies Unrestricted funds General Total funds Grants, including capital grants- Government grants Grants from other charities 1,623 876 1,623 876 Totsl for 2025 2,499 2,499 Total for 2024 1,600 1,600 3 Income from charitable activities Unrestricted funds General Total funds 129,125 129,125 Totsl for 2025 129,125 129,125 Total for 2024 129,619 129,619 4 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. Page 9
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Notes to the Financial Statements for the Year Ended 28 February 2025 5 Staff costs The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2025 No 2024 No Number of employees 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 Furniture and equipment Total Cost At 1 March 2024 Additions 17,839 9,036 17,839 9,036 At 28 February 2025 26,875 26,875 Depreciation At 1 March 2024 Charge for the year 17,839 904 17,839 904 At 28 February 2025 18,743 18,743 Net book value At 28 February 2025 8,132 8,132 At 29 February 2024 Page 10
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Notes to the Financial Statements for the Year Ended 28 February 2025 8 Debtors 2025 2024 Trade debtors Other debtors 4,246 2,000 4,004 6,246 4,004 9 Cash and cash equivalents 2025 2024 Cash on hand Cash at bank 110 77,472 80 92,657 77,582 92,737 10 Creditors: amounts falling due within one year 2025 2024 Trade creditors Other taxation and social security Other creditors Accruals 2,506 1,267 1,540 2,344 6,533 1,085 2,040 7,657 9,658 11 Funds Balance at 28 February 2025 Balance at 1 March 2024 Incoming resources Resources expended Unrestricted funds General 87,083 131,624 134,404 84,303 Page 11
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Notes to the Financial Statements for the Year Ended 28 February 2025 Balance at 29 February 2024 Balance at 1 March 2023 Incoming resources Resources expended Unrestricted funds General 92,291 131,219 (136,427) 87,083 12 Anatysis of net assets between funds Total funds at28 February 2025 Unrestricted funds General Tangible fixed assets Current assets Current liabilities 8,132 83,828 7,657 8,132 83,828 (7,657 Total net assets 84,303 84,303 Total funds at29 February 2024 Unrestricted funds General Current assets Current liabilities 96,741 9,658 96,741 (9,658 Total net assets 87,083 87,083 13 Related party transactions During the year the charity made the following related party transactions.. Trustee John Haran (Trustee John Haran is the landlord of a rented premises. An amount of £7,258 was paid to Mr Haran for rent in the current financial year. ) At the balance sheet date the amount due tolfrom Trustee John Haran was £Nil12024 - £Nil). Page 12
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios ststement of Financial Activities by fund for the Year Ended 28 February 2025 Unrestricted Funds Total Total Unrestricted Unrestricted Funds Funds 2025 2024 Income and Endowments from: Donations and legacies Charitable activities 2,499 129,125 1,600 129,619 Total income 131,624 131,219 Expenditure on: Raising funds Charitable activities (60) {670) (134,344) (135,7571 Total expenditure (134,404} (136,4271 Net expenditure (2,780) (5,2081 Net movement in funds (2,7801 (5,2081 Reconciliation of funds Total funds brought forward 87,083 92,291 Total funds carried forward 84,303 87,083 This page does not form part of the statutory financial statements. Page 13
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Detailed Statement of Financial Activities for the Year Ended 28 February 2025 Total 2025 Total 2024 Income and Endowments from: Donations and legacies {analysed below) Charitable activities {analysed below) 2,499 129,125 1,600 129,619 Total income 131,624 131,219 Expenditure on: Raising funds (analysed below) Charitable activities {analysed below) (60) (134,344) (670) (135,7571 Total expenditure (134,404) (136,4271 Net expenditure (2,780) (5,2081 Net movement in funds (2,780) (5,2081 Reconciliation of funds Total funds brought forward 87,083 92,291 Total funds carried forward 84,303 87,083 This page does not form part of the statutory financial statements. Page 14
E-sign ID.. 7ed59966-3¢574edb-97b9-8fee959906b9 Blick Shared Studios Detailed Statement of Financial Activities for the Year Ended 28 February 2025 Total 2025 Total 2024 Donations and legacies UK Government grants Grants - other agencies 1,623 876 450 1,150 2,499 1,600 Charitable activities Rental income Other income 118,764 10,361 129,064 555 129,125 129,619 Raising funds Event expenses (60) (60) (670) (670) Charitable activities Hospitality Sundry expenses Bank charges Depreciation of fixtures and fittings Wages and salaries Bookkeeping cost Rent and rates Light, heat and power Insurance Repairs and maintenance Telephone and fax Event expenses Computer SOfare and Maintenan costs Printing, postsge and stationery Sundry expenses Travel and subsisten Advertising Accountancy fees Legal and professional fees Bad debts written off (11) (96) {256) 1904) (32,723) (17,495) {50,913) (5,307) (3.793) (8,414) (4,071) {313) {879) {945) (1.643) (1,655) (153) (1,261) (1,682) 1,830 (88) (2851 (33,7151 (14,8401 (51,7391 (8,4511 (2,6401 (9,1341 (4,4141 (9911 (1,3101 (1,1541 (794) (2,1551 (2,6731 (1,1531 221 134,344 135,757 This page does not form part of the statutory financial statements. Page 15