COMPANY REGISTRATION NUMBER: N1613283
CHARITY REGISTRATION NUMBER: xr36256
Creative Vlllage Art5
Company Limited by Guarantee
Unaudited Financial Statements
30 June 2024

Creative Village Arts
Company Llmlted by Guarantee
Flnancial Statements
Year ended 30 June 2024
Page
Trustees, annual report (incorporating the directors report)
Independent examlnefs report to the trustees
ststement of financial activitles (including income and
expenditure account)
ststement of financial positlon
Notes to the financial statements
The following pages do not forni part of tho financial statoments
Detalled statement of financial actlvltles
15
Notes lo the detailed statement of financial activities
16

Creative Village Arts
Company Limited by Guarantee
Trustees. Annual Rèport (Incorporating the Directorfs Report)
Year ended 30 June 2024
The trustee5, who are also th8 diraclors for ihe pu￿OSeS of company law. present their report and the
unaudlted financlal statements of the ch8rlty for the year ended 30 June 2024.
R•f•r•nce and admlnlstraUv• detslls
Reglstered charlty namo
Creatlve Vlllage Arts
Charlty reglstrntlon number
XT36256
Company reglstratlon number N1613283
Prlnclpal offic• and r•gl8t•r•d 32 Vlctoria Road
offl
Londond8
Londonderry
8T47 2PT
Unlted Klngdom
The tNste•s
Mr P 8r8nn8n <Ch8lrpar30n)
Mr S R Lewls (Treasurgr)
Dr C A MuTphy (Assoclate
Memb8r)
Ms J M Hoy (reslgned 24
FabNary 2025)
Ind•p•nd•nt •xamln•r
PATRICK DURKAN
Office 8 Sprlngrowth Housa
Balllnlska Road
Derry
BT48 OGG
Structurn, gov•rnanc• and manag•ment
Creativ8 Village Arts Is an Incorporated charitable company Ilmlt8d by guarantee and reglstered
HMRC as a charity from 20 June 2012. The ￿rnPany was establlshed under a MemO￿ndum of
Assoclation whlch establlshed the obJ8Ct8 and powers of th? charl1al￿e company and Is govemed
under Its Articles of Assoclallon. In the evenl ol the company being wound up membefs are required to
contrfbute an amount not exceedlng £1,
The dlrectors of the company are also the trustèes for the purpDS8 of charity law. Thg charlty has 3
dlrectors, who Gonstitute Ihe full formal membership of the company, and ara the primary volunteers In
its activitles. The directors convène regular meeting5 and adhere lo th8 Articles.

Creative Village Arts
Company Llmlted by Guarantee
TNstees' Annual Report (Incorporating the Dirnctorfs Report) (¢ontlnu•dJ
Year ended 30 June 2024
Oblectlv•s and acUvltla$
Over the past y88r, w8 have malntslned full occupancy across our studio complax of elght studios,
underscoring the contlnued demand for hlgh-qualFty creative spaces. In addltion, we have sustalned a
healthy waitlng Ilst, reflecting th8 strong reputatlon we have cult5vated wlthln the artistic community. A
key hlghlighl of the year was our successful group exhibition al Ihe Gard8n of Reflection ga116ry (run by
UV Arts). Thls exhlbluon not only showcased the talents of our resldent artlsts but also provlded them
valuable opportunilies for sales 2nd outreach. Our charity was proud lo fund and support thls
Initiatlve, further relnforclng our cornmltment to th8 creatlve sector.
Financial Stabillty and Sustainabillty
Our financlal po8ltlon remalns slable. wSth rellable Income strearns supwtlng our charftabl•
obJectlve5. The conslstently hlgh occupancy rate has ensured steady revenue from studlo rentsls.
enabling us to reinvest in ihe malnlenance arKI enh8ncemeni of our facililies. Addliionally. we have
continued to seek oul fundin9 OPPOrtunllles, donatlons, arKI gr8nts to strengthen our long-terrn
sustalnablllty and exparHI our service5.
Community Engagamenl and Impact
We are dedlcated to fosterfng a vlbrant creatlva cornmunlty. Throughout the ￿ar, we have pravkled
8rtlsts wlth affordable sludlo space, facllllaled nelworklng opporlunitt8s, and orgènlzed events that
elevate thelr work. The group exhlbitlon at the Garden of Reflection was a prfme 8xarnple of our efforts
to connect arusts wlth broader aLKlSences, provkllng them wlth cwclal exposure and sales
opportunitles. The overwhelmlngly posltlve feedback from our tenants and waltlng Ilst appllcants
hlghllghls th8 Importance 8fKI Impact of our mlsslon. We as usual 3UPPOrted Culture Nlght and
welcomed many members of th? publlc Into the studlos dlsplaylng the work of the charlty and most
Imporlanlly the work of th8 artisls.

Creative Village Arts
Company Llmlled by Guarantee
Trustees. Annual Report (InGorporating the Dlrectorfs Report) {¢Dn*nu•dJ
Year ended 30 June 2024
Plans for Future Pèrlods
Bulldlng on thls y8arfs success. we pl8n to explore opportunlues to expand our capaclty, Improve our
exlstlng lacllttles, and offer even grea16r support to artists. We also Intend to org8nLze further
exhibitlons and events that allgn with our charltabl8 aims, ensuring that our creativo community
continues to thrive. Securing addllion81 fundlng and partnershlps I￿11 b8 a key prforSty as we look ID
sustaln and grow our offerfng In tho years ahead.
Small company provlslons
Thls report has been prepared In accordance wlth the provlslons 8ppllcable to comp8nles entllled tc
the small companles exempiion.
The Irustees, annual report was approved on 26 February 2025 and slgned on behall of the b08rd of
trust888 by;
MrP
rennan (Chalrperson)
Trustee
Mr S R Le￿5 (Treasurer)
Truslea

Creative Village Arts
Company Llmited by Guarantee
Independent Examinerfs Report to the Trusteas of Creatlve Vlllagè Arts
Year ended 30 June 2024
I report to the trustees on my exarnlnatlon of the financlal ststements of Creatlve Vlllage Arls {'the
charw) for the year ended 30 June 2024.
Responglbllltl•s and ba81s of report
A5 the Irustees of the company (8nd also Its directors for the purposes of company law) you are
responslble for the preparatlon of the flnanclal statements In accordance wlth the requlrements of
Charitles Act (Northem Ireland) 2008 (the .2008 Act.) and the Companles Act 2006 ('the 2006 Act.).
You are salisfied thal Ihe accounts of the company are not requlred by charity or company law to be
audlled and have chosen Instead to have 8n fnd8pend8nt examlnatton.
H8vlng satlsfied m￿ell Ihat the accounts of the comp8ny are not requlred to be audlted under Part 16
of the 2006 Act and are ellglble for Independent examSnalk)n, I report In respecl of my examlnatlon of
the charlty's financlal statemenls as carrled out under section 65 of the 2008 Acl. In carrylng out my
exarnlna￿on I have follow8d the general DErections given by the Charity Commlsslon for Northem
Ireland undgr Seclion 6S(9)(b) of the 2008 Aci.
Ind•p•ndant •xamln•f8 stht•m•nt
I have compleled my examlnatlon. I confimi that no mAttws have coma to my attantlon In conneclSon
with my examinauon gNlng me cause to belleve thal In any materlal respect:
accounting records were not kept In respect of the charity as requlred by secllon 386 of the
2006 Act,, or
the Ilnanclal 51atefflents do nol accord those records; or
the fFnanclal statements do not comply with the accounting requlrements of sectlon 396 of
Ihe 2006 Act other than any requSrement that the ac¢ounts glva a 'true and falrf vlew whlch Is
not a matter considered as part of an Independent examlnatlon; or
Ihe flnanclal slalements have not been prepared In accordance wllh the methods and
prlnclples of the Statement of Recommended Practice for accounung and rep￿ung by
charltles appllcable to chariiles preparing Ihelr accounts in accordanc? wlth the Flnanclal
Reporting Standard applicAble Sn the UK and Republic of Ireland (FRS 102).
I conflmi thal there are no other matters to whlch your 8tt8ntlon should be drawn lo enable a propBr
under61anding of tho accounts lo be reached.
PATRICK DURKAN
Independent Examlner
Office 8 Sprlngrowth House
Balllnlska Road
Derry
BT48 OGG
26 February 2025

Creatlve Village Arts
Company Llmited by Guarantee
Statement of Financial Activities
(includlng ineomo and oxpendlture account)
Year ended 30 June 2024
2024
Unrestrlcted
funds Total funds Total funds
2023
Not•
Income and •ndowments
Charitable actlvltles
9,590
9.590
9,590
10,370
10,370
Total Incomo
9,590
Expendlturn
Expenditure on charflable actlvltlgs
Other expendlture
Total •xpondltur•
6,7
8,594
398
8,594
398
8,851
413
8,992
8,992
9.264
Not Income and nat movament In funds
598
598
1,106
Reconclllatlon of funds
Totsl funds brought forward
Total funds carrfed foThvard
8,886
9,484
8,886
7.780
8,886
The statement of financlal advities Includes all galns and loss85 reGogni5ed in the year.
All Income and experlditure derive from contlnulng actlvltles.
Th• not•8 on pa9￿ 8 10 13 forni part of thase Ilnanclal staiom•nls.

Creative Village Arts
Company Llrnlted by Guarantee
Statement of Flnanclal Posltlon
30 June 2024
2024
2023
Not•
Curranl asmts
Debtors
Cash at bank and In hand
13
135
10.137
10,272
130
9,705
9,835
Cr•dltorn: amounts falllng du• wlthln ono yoar
Net current a8s•ts
14
788
949
8,886
8.886
Total a•B•ts le88 curr•nt Ilabllltles
N•t •As•ts
8,886
Funds of th• charlty
Unre8tr1cted fund8
9,484
9,484
8,886
8,886
Total charlty funds
15
For th8 ￿ar endlng 30 June 2024 the charfty was entitl•d lo exemptlon from audlt under sectlon 477 of
the Compan18s Act 2006 relatlng to small companles.
Dlrector5' re5ponslbllltles:
The membern have not requlrad the company to obtaln an audlt of its financlal statements for the
yoar In qu8slSon In accordance wlth seclion 476,.
The dlreclDrs acknowledge thelr responGlbllttle8 tor complylng vAth the requlrements of the Acl
wlth raBpecl to accountlng records and the pr8paraiion of fin8n¢lal statemants.
Th8S8 financlal staternents have been pr8pared In accordance wllh the provlsk)ns appllcable to
companles subJ8cl to tha small companle8' reglme.
These finan¢lal $tatsments wer8 approved by tho board of tru8teos and authorisod lor i$sue on 26
F8bmary 2025, and are slgngd cn behalf of Ihe board by:
MrP
rennan (Chalrperson)
Trustee
Mr S R Lewls (Treasurer)
Trustee
The note• on page• 8 10 13 forni part of th••• flnanclal gtat•monl&

Creatlve Vlllage Arts
Company Llmlted by Guarantee
Notes to the Financial Statements
Year ended 30 June 2024
General Infomiatlon
Th8 charlty Is a publlc b8nefrt en￿ty and a privale company Ilrnlled by guarantee, reglstered In
Northern IrelarKI and a registered charity in Northern Ireland. The address of the reglslered office
is 32 Vlctorla Road, Londonderry, Londonderry, BT47 2PT, United Klngdom.
ststement of compllance
These flnanclal slatements have been prepared In compliance with FRS 102, 'The Flnanclal
Reportlng Standard applkable In the UK and the RepubllG of Ireland,, the Stslement of
Recommended Pracuce appllcable lo charflles prep8rlng thelr accounis In accordance with Ihe
Flnanclal Reportlng Stsndard appllcable In the UK and RepubllG ol Ireland (FRS 102) Icharltles
SORP (FRS 102)) and lh8 Compan185 Act 2006.
Aecountlng pollcl•s
Basls of preparallon
The financlal slatements have been prepared on the hlstorlcal cosl basls, as modlfied by the
revaluatlon of certaln flnanclal assets and Ilabllltles and Inv85tment propertles measured at falr
value through income or expenditure.
The financl818tstem8n18 are prepared in 8terling, whlch Is the functional currancy of the entlty.
Golng conc•rn
There are no materlal uncertalntles about the charftys ablllty to contlnue.
Judgements and kay •ources of ostlmatlon unc•rtalnty
The preparallon of Ihe financlal statemenls requires management to make judgernents.
estlmates and assumpllons that affect the amounts reported. These esllmates and Judgements
are continually revlewed and are based on experlence and Oiher factors, Inckjdlng exp8Ctallons of
fulure evenls Ihat are believed to be reasonable under Ihe clrcumsiances,
Fund accountlng
The charfty ha8 a number of r88trlct8d Incom8 funds to account for situations where a donor
requires Ihat a donation must be spent on a particular pu￿Ose or where funds have been ralsed
for a Specific purpose.
All other funds are unrestrlcted Income funds.

Creative Village Arts
Company Llmlted by Guarantee
Notes to the Financial Ststements (¢ondnu
Year ended 30 June 2024
Accountlng polkles (contlnuodj
Incomlng r•sourcos
All Incoming resources are included in the stalement of financial acti￿leS when enliuement has
passed to the charlty; It Es probable that the economlc benefits assoc5aled wlth the Iransacllon wlll
flow to the charlty and the amount Gan be rellably measured. The foN￿ng specffic pollcles are
applled lo particular categories of Income:
Income from donatlons or grants Is recagnlsed when there Is evldence of enliilement to Ihe
glft recelpt Ss probable and Its amount can be measured rellat￿y.
legacy income is re¢ognlsed when r8c&ipt Is probable and entSUement 1$ establlsh8d.
Income from donated goods Is measured al the falr value of the goods unless thls Is
Impractlcal to me88ure reliably, In Nthkh case the value is derEved from the cost to Ihe donor
Of th8 estlmaled resale value. Donated facllllles and servSces are fe¢Ognlsed In the accounts
whan r8c8ived if the value can be fallably maasured. No amounts ere Included for the
contrlbuijon of general volunteers.
Income from contracts for the 6upply of 8ervlces Is racognlsed wlth the dellvery of Ihg
conlracted servlce. Thls Is classofied as unrestrfctad funds unless there Is a contractual
requlremenl for it to b& S￿nI on a partlcular purpose and relumed If unspent, In which cas&
it may be regarded as restricted.
R•sourrAS •xp•nd•d
Expendliurels recognlsed when a Ilablllty Is Incurred. Expendllur8 includes VAT whlch cannol be
recovered, and 18 reported 88 part of the expenditure to which it relates, Contractual
8rrangements and performance relaied grants are recognlsed as goods or sèrvlces 8ra supp118d.
Charitsble activitiès include ravanue axpenditura assoclated ￿th provldlng resources to Ihe
local communlty in th8 area of vlsual arts.
- Governance costs Include those Incurred In the govemance of tho charlty and Its assets and ar8
prlmartly 86soclaled wlth conslitutlonal and ststutory requlrements.
Tanglble ass•ts
All fixed assels are Inillally recorded at cost. Items wlth a value of less than £100 arg not
capltallsed.
Oepreclatlon
Depreclatlon Is calculated so a5 lo write off the cost or valu81ion of an asset, 18S5 Its resklual
value, over the useful economlc Ilfe of that asset as follows:
￿￿tureS and Fittings
Equlpment
over 5 years
over 5 years

Creatlve Village Arts
Company Llmlted by Guarantee
Notes to the Financial Ststements (¢anilnu•d)
Year ended 30 June 2024
Accountlng pollcles fMnttnu•dJ
Impalrnient of fixad a89018
A revlew for indicators of Impalmient is carried out at eaGh reporung date, ￿ the recoverable
amount belng esumated wherg such Indlcalors exlst. Where the carTring value exceeds the
recoverable amount, the asset Is Impalred accordlngly. Prior Impalmients are 8150 revlewed for
possible rev8r8al al 8ach reporting date.
For the purposes of Impalmlent testtng, when It Is not possible to estlmate the recoverable
amount cf an Individual 8sseL an estimate is made of the recoverable amounl of th8 cash-
generatlng unlt to whlch the asset belongs. The cash4Jeneratlng unlt Is the smallest IdentTfi8ble
group of assels that includ8S the asset and g8nerale8 Cash Inflows that largely independent of the
cash Inflows from other assels or groups of assels.
For lrnpalmlenl testlng of goodwlll, the goodwlll acquired in a business comblnallon Is, from the
acquSslt5on date, a11c￿aterj to each of the cash4Jeneratlng unlt5 that ar8 exp8Ct8d to benefit from
th8 synergles of the comblnallon, Irrespecllve of whether other 868ets or IlablSltles of the charfty
are 8sslgn8d to those unlts.
Flnanclal Instruments
A ftnanclal a8Sat or a financlal Ilablllty Is recognlsed only when the charlty boctynes a party to Ihe
conlractual provtslons of Ihe Instrument.
BasSc financlal Instruments are Inltlally recognised at the amounl recelvable or payable Including
any related transactlon cost8.
Current assets and current Ilabilitles are subsequently measured at the cash or other
Gon￿deral10n expected to be pald or recelved and not dlscourbted.
Debt Instruments are sub88quently measured at arnortl8ed cosL
Where Investmgnts In shares are publldy traded or their falr value can otherwise be measured
rellably, the Investment Is subsequenlly measured at falr value wlth change5 In falr value
recognlsed in incom8 and expendilure. All other such Investments are subsequently moasured at
cost less Impalrment.
Other financial Instruments, Includlng derivatives, are inSilally recognised at falr v81ue. unl855
payTh8nl for an assel Is deferr8d beyond normal buslness temis or financed at a rate of Inlerest
that Is not a market rate, In whSch case the asset18 m8asured at Ihe present Value of the futura
payTnents dlscounted at a market rate of Interest lor a slmllar debt Instrument.
Other ffinanclal Instruments are subsequenlly measured at falr value. wlih any chang8S
recognised In the statement of fin8nGlal activilies, with th8 exceptlon of hedglng Instruments in
deslgnated hedglng relallonshlp.
Flnanclal asseis that are measured at cost or amortlsed cost are revIev￿d for objective evidenc8
of Impairrnent at the end of each reporting date. If th8r8 Is obleciive evidenc8 of ifftpairmenl. an
impaI￿ent loss is recognised under the appropriate heading In the ststement of financlal
activiti8s In wh￿h th8 Initial gain was r8cognised.
10-

Creative Village Arts
Company Llmited by Guarantee
Notes to the Financial Statements fcondnu•d)
Year ended 30 June 2024
Accountlng pollcles (condnu
Flnanclal Instrum?nts {conllnu•d)
For all equity In5trumenls regardless ol slgntficance, and other financi81 assets that are
individually signlficant, these are assessed individu8lly for impalmient. Other financlal assets are
elther assessed Indivldually or grouped on th8 basls of slmllar credlt rlsk characterlstlcs.
Any reversals of Impalrment are fecognlsed Immedlately. to Ihe extenl thal lh8 r8vef581 does not
resull In a carrying amount of the flnanclal asset that exceeds what the carrylng amount would
have been had the Impalmient not wevlously been recognlsed.
Llmft•d by guarant••
The company Is Ilmlted by guarantee and has no share capltal. The liabllity of each member In
the event of a wlndlng•UP Is limited lo £1.
Charltabl• actlvltl•s
Unrestrlded Total Funds Unrestricted Tolal Fundg
Funds
2024
Fund8
2023
Studlo Rents Recelvable
Other Income
9,455
135
9,4SS
135
10,370
10,370
9,590
9.590
10.370
10.370
Exp•ndltur• on charltabl• actfvltl•g by lund typ•
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Support COSts
8.594
8,594
8,851
8,851
Expendlturn on charftable actlvltles by actlvlty typ•
Support Total Fund• Total Funda
Costs
2024
2023
Dlrect Costs
Govemance C08t8
7,710
7.710
7,920
931
8,594
8,594
8,851
11

Creative Village Arts
Company Limlted by Guarant80
Notes to the Financlal Statements (condnu
Year ended 30 June 2024
other expend5ture
Unrestricled Total Funds Unrestricted Tolal Funds
Funds
2024
Funds
2023
Sundry expenses
Repalrs & malnlenance
170
228
170
228
265
148
265
148
398
398
413
413
Ind•p•nd•nt •xamlnatlon fo88
2024
2023
Fees payable to the Independent examlner for
Independent examinalion of the financlal statements
822
10. 8taff cogts
The average head count of employees durlng the year Nll (2023". NII).
No employeo recelved employee benefits of more than £60,000 durfng the year (2023: NII).
11. Trust0• remuneratlon and expenses
No remuneratlon or other benefits from employTnent with the charity or a rolated entlty were
recelved by the Iruslee5.
12. Tanglble flxod a8StstB
Flxtures and
rittlngs Equipment
Totsl
Cost
At 1 July 2023 and 30 June 2024
Deprnclatlon
At 1 July 2023 and 30 June 2024
Carrylng amount
At 30 June 2024
1,524
1,847
3,171
1,524
1.647
3,171
At 30 June 2023
-12-

Creatlve Village Arts
Company Llmlted by Guarantee
Notes to the Financial Statements {¢ondnuqd)
Year ended 30 June 2024
13. D•blorn
2024
2023
Prepa￿nents and accrued Incom8
135
130
14. Credltors: amounts falllng du• wlthln one year
2024
2023
Accruals and deferred Income
Other creditor5
788
735
214
788
15, Analysls ol chadtable funds
Unr•gtrlct•d funds
At
Transfers 30 Jun• 2024
At 1 July 2023
Income Expenditure
Unreslrlcled Income
8,886
9,590
(8,992)
9,484
At
Transfers 30 June 2023
At 1 July 2022
Income Expendlture
Unrestrfcled Income
7,679
10.370
(9,264)
101
8,886
R•8trlcled fund•
At
Transfers 30 Jun• 2024
Al 1 July 2023
Income Expendlture
DCSDCSLA
At
Transfers 30 June 2023
At 1 July 2022
Income Expendltur8
DCSDC SLA
101
<101)
16. Related partlas
No truslee recefved any remunerallon du￿ng the perfod.
No truslee or othar person related to the charity had any personal Interest in any contract or
transaclK)n entered Into by the charity during the period.
-13-

Creative Village Arts
Company Llmlted by Guarantee
Managamont Information
Year ended 30 June 2024
The followlng pag•$ do not forn) part of the flnanclal statemènts.
-14-

Creative Village Arts
Company Llmlted by Guarantso
Detailed Statement of Financlal Actlvlties
Year ended 30 June 2024
2024
2023
Income and ondowments
Charltable actlvltles
Studlo Rents Receivable
Other Income
9,455
135
10,370
9,590
10,370
Total Incoma
9,590
10,370
Expendlture
Expendttur• on charftabl? actlvltl•s
Rent
Llghl and heat
Insurance
Legal and professlonal fe85
Other Interest payabla and slmllar charges
7,200
368
142
822
62
7,200
605
115
147
8,594
8,851
Othar •xp•ndlturn
Sundry expenses
Repalrs & malntenance
170
228
265
148
398
413
Total •xp•ndlturn
8,992
9,264
Net Income
598
1,106
15-

Creative Village Arts
Company Llmited by Guarantee
Notes to the Detallod Statement of Flnanclal Activities
Year ended 30 June 2024
2024
2023
Exp•ndlture on charllablè actlvltles
Actlvlty type I
Support costs
Support charitable actl¥ity 1- rent
Support charftsble actllrfty 1-1Sght & heat
SupFK)rt charitable activity 1- insurance
7,200
7.200
605
115
142
7,710
7,920
Governance costs
Govemance costs - accountsncy fees
Bank Charges
62
147
884
931
Expendttur• on ¢harftabl• aGtlvftle8
8,594
8,851
16.