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2024-03-31-annual-return

Registered number NI024162

Seacourt Print Workshop Ltd

Report and Unaudited Accounts for the year ended 31 March 2024

Seacourt Print Workshop Ltd Report and accounts Contents

Page
Company information 1
Chairperson's Report 2
Directors' report 3
Independent Examiner's Report 10
Statement of financial activities 11
Balance sheet 12
Statement of changes in equity 13
Notes to the accounts 14

Seacourt Print Workshop Ltd Company Information

Elected directors

Dr Ken Sterrett - Chair Louise De'Ath - Honorary Treasurer Marianne Kennerley - Company Secretary Ryan Young - Vice Chair Margaret Arthur Christine Morrow Miriam Stevenson (resigned November 2023) John Morris (resigned November 2023)

Staff team

Emma Drury - Director Jessica Hollywood - Programmes and Com Kimberley Ladd - Operations Coordinator Penny Brewill - Technician Peter Brown - Technician Imogen Donegan - Technician

Accountants

Roger Morrison B.A. (Hons) F.C.A. Chartered Accountant & Registered Auditor 95 Cregagh Road Belfast BT6 8PY

Solicitors

CMG Cunningham & Dickey 18 May Street Belfast BT1 4NL

Bankers

AIB NI 95 Ann Street Belfast BT1 3HH

Registered office and buisness addresss

75 Main Street Bangor Co. Down BT20 5AF

Registered number Charity registration number NI024162 XR17722

The Charity Commission for Northern Ireland number NIC105781

1

Seacourt Print Workshop Ltd Registered number: NI024162 Chairperson's Report

Seacourt Print Workshop’s mission can be distilled into a short phrase - SHARE THE MAGIC OF PRINTMAKING - and this guides the work of the trustees and staff team.

With the support of our principal funder, the Arts Council of NI, and our other funding stakeholders and partners, we are proud to have delivered a high-quality programme of activities and services and built strong connections with the community.

We celebrated the two women who founded Seacourt with exhibitions looking back at their artistic careers. We were delighted to mark the late Jean Duncan’s contribution to Seacourt and the arts with her family in May 2023 with an exhibition of prints and paintings “A life in Print and Paint”. Margaret Arthur’s prolific printmaking practice was showcased in “Journey through Print 1981 – 2023”. We were thrilled to confirm that Margaret and Jeans ambitions for Seacourt had come to be - our own permanent home in Bangor’s city centre.

The year was characterised by hard work on fundraising and modifying the building to make it suitable for our use. Support from the Arts and Business through their Blueprint programme was a key investment for us. It allowed us to make our studios ready for our new studio membership offer. A great deal of hard work and voluntary effort was involved alongside the works completed by the contractor. Seacourt volunteer, Edward Ferguson, worked closely with our Operations Coordinator Lucas Elliott and two volunteers, Afshin and Amir, refugees from Iran. This team worked week after week decorating and perfecting the spaces and Seacourt has benefitted from the secure income the spaces earn.

Our Director and the Trustees persevered with our plans to buy the bank and a huge effort on the fundraising front continued with a successful application to the Department for Levelling Up and Communities, Community Ownership Fund. In June 2023 we were delighted to be awarded £300,000 through the fund and this allowed us to unlock investment from other sources. We realised the huge ambition of purchasing the bank on 8th December 2023, a delightful and very welcome Christmas present.

Our Director spent time working with partners in the local arts and business sectors to explore how collective effort could help improve the regeneration prospects of the city. A steering group for a Bangor Business Improvement District was formed and consultations held with town centre businesses. This work continues to develop and Seacourt has committed to playing a role in the efforts.

Thank you to Seacourt’s staff team who bring a wealth of knowledge, enthusiasm, and passion to all that they do and my colleagues on the board of trustees for their vision, support, and commitment.

Signed by the Chairperson on 16 December 2024

signed on 16/12/2024, 10:47:02 GMTDr Ken Sterrett

Dr Ken Sterrett Chair

2

Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

Seacourt's Print Workshop's (Seacourt) Board of Directors presents its report and financial statements for the year ended 31 March

The financial statements have been prepared based on the accounting policies set out in note 1 to the financial statements and comply with the Seacourt's Constitution, applicable law and the requirements of the Statement of Recommended Accounting Practice (SORP), "Accounting and Reporting by Charities".

PURPOSE:

Seacourt’s Articles of Association describe out our key objects which focus on the advancement of the education of the public through the promotion of the visual arts of printing and graphic arts and especially the art of print making, within Northern Ireland and elsewhere (the area of benefit), and to:

STRATEGIC PLAN 2020 - 2025

In setting Seacourt Print Workshop’s strategy & objectives and planning our annual programmes, the Board of Directors has considered the Charity Commission for Northern Ireland’s guidance on public benefit. This helps to ensure our activities and plans have helped us achieve our purposes and provide a benefit to beneficiaries.

OUR VISION:

Seacourt at the heart of building a creative, healthy and prosperous place.

OUR MISSION:

Advance excellence in printmaking, create space for creativity, support cultural regeneration and build engaged communities to improve lives.

STRATEGIC OBJECTIVES:

1. Providing Space

2. Sharing the creative process

3. Reconnecting to Bangor:

4. Strengthen our organisation

5. Achieve financial sustainability

3

Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

OUR ACHIEVEMENTS IN 2023-2024:

It was a landmark year for Seacourt Court Print Workshop during which we balanced the continued work of improving our building, making space ready for new members and the fundraising initiative “Banking on Seacourt” with the aim of securing the building through purchase.

We also delivered a programme of exhibitions, projects, courses, and workshops that engaged people of all ages in printmaking. It was a year when we understood the full potential of our new location and the opportunities this presented for access to creativity and promoting the work of our artist members.

Our former bank building, a local landmark, at the heart of the city centre, offered us renewed visibility and the opportunity for us to support the creative regeneration of Bangor.

Whilst our new location opened up opportunities, like many arts organisations, Seacourt had to navigate an uncertain climate and soaring power costs, so we were very grateful to receive an uplift to our annual support from the Arts Council of Northern Ireland to help with increases in power, heat, and other increased costs.

Staffing:

Jessica Hollywood was appointed to the role of Programmes and Communications Officer. Jessica had worked at Seacourt as a freelancer for some time but is now permanent employee. Kim Ladd joined the team as part time Operations Coordinator and Peter Brown and Imogen Donegan joined Penny Brewill in providing workshop support.

"Banking on Seacourt" - Securing our building through purchase

Seacourt made an application to the Community Ownership Fund in April 2023 after a learning in December 2022 that our first application had not been successful. We reviewed and improved our business case with McGarry Consulting and the resulting document articulated the benefits that Seacourt could deliver in the city centre and the potential for financial sustainability going forward.

We were delighted to receive an offer of £300,000 from the Community Ownership Fund in June 2023. An application to the Foyle Foundation in September 2023 secured £75,000 towards the project with £10,000 already secured through the Esme Mitchell Trust. This allowed us to unlock social finance of £186,000 through Community Finance Ireland.

Our supporters continued to donate and at the time of finalising purchase of the building on 8th December 2023, we had raised £19,850 from 147 donors. The full package secured at this time towards purchase and improvement was £588,000.

Arts and Business Blueprint Porgramme - making studio spaces available

Seacourt was one of 17 leading arts organisations who were selected to continue into Year 2 of the Blueprint, a programme which offered a programme of mentoring, access to experts and, peer support.

The programme came with a first phase of investment of £29,950 that helped us make our spaces on the first, second and third floors of the building ready for occupation. In April 2023, three artists joined our Seacourt Studios Membership and by March 2024 8 out of 9 spaces were occupied. Seacourt Studios provided new steady annual turnover than helps us meet the costs of our mortgage and our running costs.

Planning for renovation:

Late 2023 and early 2024 brought a busy period of surveys and discussions with our architects Knox Markwell about the priority works that would improve accessibility and circulation on the ground floor; make essential repairs to the building to make it watertight; and to secure our building control certification and fulfil the terms of our planning permission. In January we recruited the project team to manage the process and finalised our plans. In February 2024 we issued a public competition for a minor works contract and in early March we invited three contractors to submit a tender for the required works. We were able to appoint a contractor in April 2024 with a provisional project start of May 2024.

HIGHLIGHTS OF 2023/2024 Programme:

We had a busy year welcoming the people of Bangor to our workshop to share the magic of printmaking. A major highlight of our exhibition programme was celebrating the achievements of our founding members Jean Duncan and Margaret Arthur. The following gives an overview of the events, activities and programmes we delivered

Our Exhibition programme

Strong Winds and Cosy Corners – Kimberley Ladd and Nathalie Caleyron A life in Print and Paint – Jean Duncan Journey through Print 1981 – 2023 – Margaret Arthur Alternative Pin Ups of Heroes and Villains – Aaron Muncaster Annual Members’ Christmas Exhibition - Group show Create Connect – showcasing our wellbeing programmes Kelpra Artists and Printmakers – Concepts – Conversations – Collaborations - at Ulster Museum, Belfast See the Light – Portico of Ards, Portaferry

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Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

Sharing printmaking

Open House Festival – We partnered with Open House to deliver Seacourt Summer Sessions and 30 people enjoyed print tasters and socialising.

Kelpra workshop – We worked with the Ulster Museum to devise and deliver a talks programme and a children’s workshop that engaged the participants in the printing and collage processes used at Kelpra by artists featured in the exhibition.

Talks on print – Peter Brown initiated a new programme of talks on art making and Nigel Oxley, a master printmaker who worked at Kelpra, visited to give talks at Seacourt and the Ulster Museum.

John Toal Programme – Radio Ulster’s John Toal Show visited Seacourt to learn about what we do. He spent some time creating a letterpress print and spoke on his radio programme about how much he enjoyed the process and the ‘aha’ moment when the print Open Days - We continued to hold a series of drop-in print activities aimed at people of all ages to coincide with town centre events including Seaside Revival and Letters to Santa. More 1200 people dropped in a printed a postcard.

Tourism experiences – We secured funding through Ards and North Down Borough Council’s AND Experience programme to devise and pilot 3 print-based experiences to attract visitors to the area.

Courses and tasters – Our programme of courses, workshops and taster sessions were well attended with participants telling us they loved our space, enjoyed learning from skilled artists and enjoyed the opportunity to reconnect with creativity. ‘Create Connect’ – Our popular print for wellbeing project returned in November 2023 funded by CLEAR/Making Lives Better. We held 3 print sessions a week with more than 45 participants with mental health or chronic illness learning printmaking skills. We continued our partnership with Action Mental Health, Inspire Wellbeing and North Down Community Network who referred service users to take part. This culminated in an exhibition of the prints made and 5 people returned for a preparation for membership followup course and 2 took up ongoing membership of Seacourt.

YMCA Prints – We were delighted to introduce printmaking to women’s groups at the North Down YMCA. Penny Brewill worked with Syrian women and their children and Kim Ladd worked with a group of Ukrainian women. Education - Our print workshops for GCSE and A level students continued mostly on an ‘in school’ basis. Our printmakers travelled to towns and cities across Northern Ireland including Belfast, Enniskillen, Antrim, Ballymena and Glastry.

After this varied and enjoyable programme the team began the lengthy process of packing our supplies and readying our equipment for removal to storage so that we could hand the building over to contractors to progress renovations.

STATEMENT OF TRUSTEES RESPONSIBILITIES GOVERNANCE AND MANAGEMENT:

Seacourt Print Workshop is a Company Limited by Guarantee in accordance with the Companies Act 2006, governed by its Memorandum and Articles of Association dated 28 March 2011.

The company was accepted as a charity by the Northern Ireland Charity Commission for Northern Ireland on 13th March 2017. The charity is governed by a Board of Directors which meets not less than six times per year. Whilst strategic decisions are taken by the Board of Directors, responsibility for the day-to-day operation of the workshop is delegated to the Director.

THE BOARD OF DIRECTORS:

Directors are appointed at Annual General Meetings. Directors may be invited onto the Board from outside the membership to bring additional skills to the Board. Once appointed the Directors complete ‘Declarations of Eligibility & Responsibility’ and ‘Conflicts of Interests’ documents. Co-opted Board advisors may also assist the Board in the discharge of its function.

A Director can serve on the Board for no more than two consecutive three-year periods. Office bearers can hold Office for two terms of three consecutive years. No Director receives remuneration or other benefit from their work as a Director with Seacourt.

Any connection between a Director, a member of staff, a facilitator or exhibitor is disclosed to the full Board of Directors in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported.

INDUCTION & TRAINING OF BOARD MEMBERS:

New directors undergo an orientation to brief them on their legal obligations under charity and company law. This includes Charity Commission guidance on public benefit, the content of Seacourt’s Memorandum and Articles of Association, committee roles and decision-making processes, Seacourt’s Strategic Plan, and recent financial performance.

Directors are encouraged to attend appropriate external training events, for example with NICVA or Arts & Business NI, who will facilitate the effective undertaking of their role.

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Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

BOARD POLICY AND PROCEDURES:

The following policies, procedures and plans were reviewed and or updated during the 2023-24 reporting period: Working Safely at Seacourt Policy, Health and Safety Policy, Fire Risk Assessment and Management Plan, and Safeguarding Policy.

SAFEGUARDING:

There were no Safeguarding concerns raised with the Designated or Deputy Designated Safeguarding Officers during the reporting period.

RISK MANAGEMENT:

The Board of Directors maintains a risk register that ensures Seacourt is engaged in the process of identifying risk; of ensuring that due consideration is given to the types of risks faced; and that there is a clearly understood framework for identifying, managing, and reporting on risk. This register is reviewed and updated at board meetings.

The highest rated risks identified continue to be key person risk, and loss of income, particularly Annual Funding from the Arts Council of Northern Ireland. Mitigations are detailed in the register and include a business continuity plan, an income strategy to diversify sources of income and ensuring that we advocate for our position as a strategically important client of the Arts Council of Northern Ireland.

Ongoing measures to manage non-financial risks arising from fire risk and health & safety are carefully implemented.

MEMBERSHIP:

There are 3 classes of membership of Seacourt as set out in the Articles of Association:

1. Individual Members

Subject to article (11), any person aged 18 years or over who subscribes to the objects of the organization may subscribe and become a member of the organisation. The Board of Directors will set fees and subscriptions in accordance with article 95, including the levying of subscription fees to any member who uses Seacourt’s facilities.

2. Associate Members (including Student members)

Any well-wisher or person who, in the opinion of the Directors, has special knowledge or experience to offer to the company.

Associate Members have the right to attend and speak at General Meetings of the Company, but are not entitled to vote.

3. Honorary Members

Honorary members shall be such persons as have in the opinion of the Board have made outstanding contributions to the Company and have been accorded the status of Honorary Members by an Annual General Meeting upon the recommendation of the Board.

5. Director Members

Director Members shall be co-opted or elected directors who are non-users of the workshop facilities and are not required to pay a membership fee but become members on election and for the duration of their service on the Board

In the reporting period there were 67 members.

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Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

HOW WE DELIVER PUBLIC BENEFIT:

HOW WE DEMONSTRATE PUBLIC BENEFIT:

The public benefit that flows from our purposes include:

 Artists, designer makers and the wider public having the opportunity to develop their printmaking knowledge, understanding and skills through universal access to the widest range of specialist print making equipment in Ireland;

 Artists being able to develop their artistic practice in techniques that require specialist equipment and require a practice of experimentation and exploration;

 People engaging in active learning which enables them to express themselves creatively through traditional and innovative printmaking processes and techniques;

 Helping our audiences develop greater appreciation, understanding and knowledge of the visual arts (including adults, children, young people, and disadvantaged groups) through active creative engagement and exposure to high quality examples of printmaking;

 Increasing personal confidence and self-efficacy through participation in printmaking activities that allow individuals to learn new skills, build friendships and networks and create space for people to recover and then flourish;

 Better communication and interpersonal skills as a direct result of being creative, increasing confidence and enjoying increased social interaction and having a place in our printmaking family;

 Pupils, students, and young people increasing their knowledge and skills through our professional development programmes including work experience, internship and graduate support which contribute to improved educational outcomes, greater career choice and employability;

 • Providing access to printmaking so that people who have specific disabilities or health needs can be supported to be creativ and express themselves creatively.

MITIGATING RISKS AND HARMS:

We believe the benefits we provide significantly outweigh any harm which may be caused by using or participating in our workshops.

We minimise potential risks through the consistent application of clear, effective policies and procedures including health and safety, managing fire risk, safeguarding and code of behaviour.

WHO USED AND BENEFITTED FROM SEACOURT’S SERVICES:

Seacourt's beneficiaries include artists and printmakers, the public, carers, children aged 3-13, young people aged 14-25, course participants of all ages, people from ethnic minorities, our members, project participants, people with learning disabilities, people with mental health, older people, people with physical disabilities and corporate users.

PRIVATE BENEFIT:

We believe that any private benefit is incidental to the main work of our charity. Members or guests who facilitate all or parts of our education programmes and workshops can benefit by being paid standard facilitation fees. Members in general may benefit from the incidental sale of their work through exhibitions.

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Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

SOURCES OF FUNDING:

We are very grateful that our principal funder, the Arts Council of Northern Ireland (ACNI), continued to support Seacourt as an annually funded client with an award of £60,266 to cover salaries and a proportion of our overheads. We also received an in-year uplift bringing the total to £69,144 with the extra funding helping to mitigate the significant increases in power and other costs. Ards and North Down Borough Council provided Multi Annual Funding for 2023/2024 and 2024/2025 at £5000 per annum again towards overhead and running costs.

BANKING ON SEACOURT

Seacourt realised our ambition to purchase our building, a Grade B1 listed former bank premises at 75 Main Street, Bangor, in December 2023. Our fundraising campaign began in 2021 and on 8th December we completed the purchase of the property having raised £626,950 for purchase and improvements.

The Department for Levelling Up and Communities’ Community Ownership Fund awarded Seacourt a grant of £300,000 (£250,000 capital and £50,000 revenue) in June 2024. This scheme was aimed at groups who could secure a building at risk for the benefit of the local community. An application submitted in August 2022 was not successful but on reapplication in April 2023 Seacourt succeeded in securing the award.

This award unlocked further grant aid via the Foyle Foundation, the Arts Council of Northern Ireland and continuing donations from our supporters. The final piece of the funding package was social investment of £186,000 from Community Finance Ireland. As part of this package a sum of £112,500 was ring-fenced for Phase 1 renovation of the building to increase accessibility, improve the layout of the ground floor and make essential repairs. In January 2024 with the support Architects Knox Markwell a final specification for a minor works scheme was agreed and in late February 2024 a procurement process was initiated to form a project team and appoint a principal contractor.

The following table shows the full package of funding towards the project as of 31st March 2024.

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Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

RESERVES POLICY:

Charity reserves are needed to bridge the gap between spending and receiving resources and to cover unplanned emergency repairs and other expenditure. The Board of Directors consider that reserves need to be maintained at a level which would ensure that 3 months of SPW’s core activity could continue during a period of unforeseen difficulty and over time to achieve 6 months of costs.

The reserve position on 1st April 2023 was £19,000 and on 31 March 2024 remained £19,000.

The Board remains acutely aware that limited free reserves, together with the present economic backdrop continue to provide a very challenging environment in the years to come. However, the board believes that a consistent approach to fundraising, strategic income generation and a relocation to a more appropriate premises can help deliver the future financial sustainability to meet these challenges. Once the purchase of the building is complete a priority is to increase reserves to the desired £45,000.

FINANCIAL SUSTAINABILITY:

The key priority for 2023-2024 and beyond was ensuring that Seacourt could weather the impacts of the fragile funding environment and the ongoing cost-of-living pressures, but still have the financial capability to deliver its commitment to provide increasing access to printmaking resources and to retain the key staff essential to designing and implementing planned activities.

Owning the building we operate from was the cornerstone of Seacourt’s strategy for financial resilience giving us greater control over our accommodation and providing us with an appreciating asset that can be considered as part of our growth and development.

FINANCIAL REPORTING:

The Board of Directors is responsible for preparing Seacourt’s Annual Report and Financial Statement in accordance with applicable law and United Kingdom Accounting Standards. Company law and the law applying to charities require the Board to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company for that period and of the incoming resources and application of resources, including the income and expenditure of the charitable group for that period. In preparing the financial statements the Board is required to:

The Board is responsible for ensuring arrangements are in place for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable it to comply with the requirements of the Companies Act, the Charities Act and any other relevant legislation.

The Board is also responsible for ensuring that arrangements are in place to safeguard the assets of the charity and of taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Director in conjunction with the Board has introduced mechanisms that ensure a culture of ongoing improvement, and this will underpin future planning.

This report was approved by the Board on 16 December 2024 and signed on its behalf.

Dr Ken Sterrettsigned on 16/12/2024, 10:47:02 GMT Chairman

9

Seacourt Print Workshop Ltd

Independent examiner's' report to the board of directors on the preparation of the unaudited statutory accounts of Seacourt Print Workshop Ltd for the year ended 31 March 2024

I report on the accounts for the company for the year ended 31 March 2024.

Respective responsibilities of charity trustees and examiner

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008.

It is my responsibility to:

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.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included 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:

  1. That accounting records were not kept in accordance with section 63 of the Charities Act

  2. That the accounts do not accord with those accounting records

  3. That the accounts do not comply with the accounting requirements of theCharities Act

  4. 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.

Roger Morrison

signed on 16/12/2024, 11:09:42 GMT Roger Morrison B.A. (Hons) F.C.A. Chartered Accountant 95 Cregagh Road Belfast BT6 8PY

16 December 2024

10

Seacourt Print Workshop Ltd Statement of financial activities for the year ended 31 March 2024

Income from:
Donations and membership fees
Provision of courses and sale of art works
Grant income
Investment income
Total income
Expenditure on:
Raising funds
Charitable activities: Resource provision
Other
Total expenditure
Net movement in funds
Reconciliation of funds
Fund balance at 1 April 2023
Net movement in funds
Transfer between funds
Fund balance at 31 March 2024		 Unrestricted
funds
2024
£
12,207
32,429
-
13,228
57,864
11,775
66,739
14,141
92,655
(34,791)
171,450
(34,791)
280,477
417,136		 Restricted
funds
2024
£
300,000
-
117,305
-
417,305
19,208
67,672
17,815
104,695
312,610
28,251
312,610
(280,477)
60,384		 Total
2024
£
312,207
32,429
117,305
13,228
475,169
30,983
134,411
31,956
197,350
277,819
199,701
277,819
-
477,520		 Total
2023
£
29,355
23,301
154,401
573
207,630
26,010
103,691
30,447
160,148
47,482
152,219
47,482
-
199,701

11

Seacourt Print Workshop Ltd Registered number: NI024162 Balance Sheet as at 31 March 2024

Notes
Fixed assets
Tangible assets
6
Current assets
Stocks
Debtors
7
Cash at bank and in hand
Creditors: amounts falling due
within one year
8
Net current assets
Total assets less current
liabilities
Creditors: amounts falling due
after more than one year
9
Net assets
Capital and reserves
General funds
Restricted funds
Total funds		 2024
£
565,919
4,960
28,211
76,684
109,855
(36,041)
73,814
639,733
(162,213)
477,520
417,136
60,384
477,520		 2023
£
133,908
4,223
17,347
55,629
77,199
(11,406)
65,793
199,701
-
199,701
171,450
28,251
199,701

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit in accordance with section 476 of the Act.

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

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

signed on 16/12/2024, 10:47:02 GMT

Dr Ken Sterrett Chairman

Approved by the board on 16 December 2024

12

Seacourt Print Workshop Ltd Statement of Changes in Equity for the year ended 31 March 2024

Share
Share
capital
premium
£
£
At 1 April 2022
-
-
Net movement in funds
Transfer between funds
Other comprehensive income for the
financial year
-
-
Total comprehensive income for the
financial year
-
-
At 31 March 2023
-
-
At 1 April 2023
-
-
Net movement in funds
Transfer between funds
Other comprehensive income for the
financial year
-
-
Total comprehensive income for the
financial year
-
-
At 31 March 2024
-
-		 Restricted
fund
£
-
36,227
(7,976)
(7,976)
28,251
28,251
28,251
312,610
(280,477)
(280,477)
32,133
60,384		 General
funds
£
152,219
11,255
7,976
7,976
19,231
171,450
171,450
(34,791)
280,477
280,477
245,686
417,136		 Total
£
152,219
47,482
-
-
47,482
199,701
199,701
277,819
-
-
277,819
477,520

13

Seacourt Print Workshop Ltd Notes to the Accounts for the year ended 31 March 2024

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the directors have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity’s work or for specific artistic projects being undertaken by the Charity.

Intangible fixed assets

Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

a. Costs of generating funds comprise the costs of staff costs incurred in promoting the Charity together with costs associated with selling prints.

b. Expenditure on charitable activities includes the costs of exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs.

c. Other expenditure represents those items not falling into any other heading.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Trust's artistic programmes and activities.These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 3.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Leasehold land and buildings Furniture and equipment

2% straight line 20% reducing balance

14

Seacourt Print Workshop Ltd Notes to the Accounts for the year ended 31 March 2024

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Pensions

Contributions to defined contribution plans are expensed in the period to which they relate.

2 Legal status of the Charity

The Charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

15

Seacourt Print Workshop Ltd Notes to the Accounts

for the year ended 31 March 2024

3 Analysis of governance and support costs

Salaries
Management and administration
Establishment
Advertising
Legal and professional
Depreciation		 Cost of
generating
funds
£
18,449
1,498
-
-
-
-
19,947		 Resource
provision
£
25,669
2,458
36,431
2,102
-
29,007
95,667		 Governance
£
14,948
11,385
796
-
4,235
592
31,956

Basis of allocation:

Support costs are not directly attributable to any single activity but provide the organisational infrastructure that enables the charitable activities to take place. Such costs are therefore apportioned to the activity cost categories being supported.

Support costs have been apportioned on a number of bases as considered reasonable, e.g. salaries were allocated based on time spent in each area, establishment costs were apportioned on the basis of floor-space, advertising and publicity was apportioned based on usage.

4
Employees
Average number of persons employed by the company
5
Analysis of staff costs, trustee remuneration and expenses,
and the cost of key management
Wages and salaries
Pension costs		 2024
Number
3
2024
£
54,356
4,641
58,997		 2023
Number
3
2023
£
62,935
5,973
68,908

No employees had employee benefits in excess of £60,000 (2023: nil). Pension costs are allocated to activities in proportion to the related staffing costs.

The directors of the Charity were not paid or received any other benefits from employment (2023: nil), neither were they reimbursed expenses during the year (2023: nil). No director received payment for professional or other services supplied to the Charity (2023: nil).

16

Seacourt Print Workshop Ltd Notes to the Accounts

for the year ended 31 March 2024

6 Tangible fixed assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
7
Debtors
Other debtors
8
Creditors: amounts falling due within one year
Bank loans and overdrafts
Trade creditors
Other taxes and social security costs
Other creditors
9
Creditors: amounts falling due after one year
Bank loans		 Land and
buildings
£
139,164
440,790
579,954
44,035
18,008
62,043
517,911
95,129		 Furniture
and
equipment
£
143,656
20,820
164,476
104,877
11,591
116,468
48,008
38,779
2024
£
28,211
2024
£
21,660
842
620
12,919
36,041
2024
£
162,213		 Total
£
282,820
461,610
744,430
148,912
29,599
178,511
565,919
133,908
2023
£
17,347
2023
£
3,469
708
1,960
5,269
11,406
2023
£
-

10 Controlling party

The controlling parties are the guarantors.

17

Seacourt Print Workshop Ltd Notes to the Accounts for the year ended 31 March 2024

11 Analysis of charitable funds
General reserve
Restricted reserves:
Arts Council for NI Core Funding
Arts Council for NI Equipment Fund
Clear Small Grant Fund
Emee Mitchell Foundation
Future Screens NI
Arts & Business Blueprint Programme
Community Ownership Capital Fund
Community Ownership Revenue Fund
Community Ownership Renovation Fund
Total restricted funds
Total funds		 At
1 April 2023
171,450
-
-
-
10,000
6,571
11,680
-
-
-
28,251
199,701		 Income
57,864
69,144
17,188
5,000
-
21,273
-
213,750
50,000
36,250
417,305
475,169		 Expenditure
(92,655)
(69,144)
-
(5,000)
-
(16,049)
(8,391)
-
(1,411)
-
(104,695)
(197,350)		 Transfers
280,477
-
(17,188)
-
(10,000)
-
(3,289)
(213,750)
-
(36,250)
(280,477)
-		 At
31 March 2024
417,136
-
-
-
-
11,795
-
-
48,589
-
60,384
477,520

Name of restricted fund Description, nature and purposes of the fund

Arts Council for NI Core Funding To meet salaries and running expenses ANDBC Multi Annual Funding To meet running costs Clear Small Grant Fund To meet costs of an arts, mental health, and wellbeing programme Emee Mitchell Foundation To help with the purchase and renovation of new premises Future Screens NI To meet costs of an Operations Coordinator post Arts & Business Blueprint Programme To meet temporary lease costs and renovation of the upper floors to create studio spaces Community Ownership Capital Fund Capital grant towards the purchase and renovation of the new building Community Ownership Revenue Fund Revenue award to help manage project delivery Community Ownership Renovation Fund Grant to assist with renovation of new buidling

12 Other information

Seacourt Print Workshop Ltd is a private company limited by guarantee and incorporated in Northern Ireland. Its registered office is:

75 Main Street Bangor Co. Down BT20 5AF

18

Seacourt Print Workshop Ltd Notes to the Accounts

for the year ended 31 March 2024

13 Prior year Statement of Financial Activities

Income from:
Donations and membership fees
Provision of courses and sale of art works
Grant income
Investment income
Total
Expenditure on:
Raising funds
Charitable activities: Resource provision
Other
Total
Net movement in funds		 Unrestricted
funds
2023
£
29,355
23,301
8,000
573
61,229
6,599
35,322
8,053
49,974
11,255		 Restricted
funds
2023
£
-
-
146,401
-
146,401
19,411
68,369
22,394
110,174
36,227		 Total
2023
£
29,355
23,301
154,401
573
207,630
26,010
103,691
30,447
160,148
47,482

19

Seacourt Print Workshop Ltd Detailed statement of financial activities for the year ended 31 March 2024

This schedule does not form part of the statutory accounts
Voluntary income:
Membership Fees
Donations
Community Ownership Fund
Activities for generating funds:
Artist sales
Courses, Projects, etc
Schools Programme
Materials for Resale
Sundries
Investment income:
Studio rental
Interest receivable
Incoming resources from charitable activities:
Arts Council for Northern Ireland (ACNI)
ACNI - Equipment
ACNI - Emergency Funding
Blueprint grant
Future Screens NI
Esme Mitchell
Donated assets
ANDBC Multi Annual Funding
Clear Small Grant
Total incoming resources		 Unrestricted
Funds
2024
£
11,089
1,118
-
12,207
14,784
10,433
3,744
995
2,473
32,429
12,965
263
13,228
-
-
-
-
-
-
-
-
-
-
57,864		 Restricted
Funds
2024
£
-
-
300,000
300,000
-
-
-
-
-
-
-
-
-
69,144
17,188
-
-
21,273
-
-
4,700
5,000
117,305
417,305		 Total
2024
11,089
1,118
300,000
312,207
14,784
10,433
3,744
995
2,473
32,429
12,965
263
13,228
69,144
17,188
-
-
21,273
-
-
4,700
5,000
117,305
475,169		 Total
2023
£
12,642
16,713
-
29,355
10,390
9,261
2,083
1,002
565
23,301
565
8
573
61,004
-
14,028
29,950
21,919
10,000
8,000
4,500
5,000
154,401
207,630

20

Seacourt Print Workshop Ltd Detailed statement of financial activities for the year ended 31 March 2024

This schedule does not form part of the statutory accounts
Resources expended
Cost of generating funds:
Cost of generating voluntary and other income
Salaries
Pension
Materials for sale
Payments to artists on sale of prints
Postage
Telephone
Stationery and printing
Bank charges
Sundry expenses
Charitable activities/ Resource provision:
Salaries
Pension
Technicians fees
Exhibition hospitality & costs
Tutors
Rent and rates
Materials not for resale
Heat and light
Insurance
Repairs, maintenance and cleaning
Telephone
Postage
Advertising and publicity
Printing and stationery
Bank charges
Equipment expensed
Depreciation
Sundry expenses		 Unrestricted
Funds
2024
£
-
-
2,038
8,998
100
44
-
293
302
11,775
-
-
4,834
1,779
9,271
5,494
1,809
56
1,416
9,938
44
100
1,436
-
293
1,142
29,007
120
66,739		 Restricted
Funds
2024
£
16,998
1,451
-
-
-
561
-
198
-
19,208
23,650
2,019
17,091
300
3,660
6,000
-
9,252
1,422
2,853
561
-
666
-
198
-
-
-
67,672		 Total
2024
16,998
1,451
2,038
8,998
100
605
-
491
302
30,983
23,650
2,019
21,925
2,079
12,931
11,494
1,809
9,308
2,838
12,791
605
100
2,102
-
491
1,142
29,007
120
134,411		 Total
2023
£
15,953
2,688
1,635
4,661
-
480
208
290
95
26,010
31,224
2,688
-
-
13,575
11,760
2,975
9,276
3,254
8,028
480
-
699
208
290
203
18,936
95
103,691

21

Seacourt Print Workshop Ltd Detailed statement of financial activities for the year ended 31 March 2024

This schedule does not form part of the statutory accounts
Governance costs:
Wages and salaries
Pensions
Staff training and welfare
Rent
Rates
Light and heat
Cleaning
Telephone and fax
Postage
Stationery and printing
Subscriptions
Bank charges
Bank interest
Insurance
Software
Repairs, maintenance and cleaning
Depreciation
Sundry expenses
Accountancy fees
Consultancy fees
Other legal and professional
Total resources expended		 Unrestricted
Funds
2024
£
76
-
69
235
339
1
32
44
101
655
870
295
5,093
29
1,676
220
592
1,603
1,839
-
372
14,141
92,653		 Restricted
Funds
2024
£
13,632
1,171
-
-
-
189
-
563
-
-
-
198
-
29
-
9
-
-
-
720
1,304
17,815
104,697		 Total
2024
13,708
1,171
69
235
339
190
32
607
101
655
870
493
5,093
58
1,676
229
592
1,603
1,839
720
1,676
31,956
197,350		 Total
2023
£
15,758
597
290
240
285
190
40
481
-
209
652
290
182
66
1,214
123
386
734
2,521
3,950
2,239
30,447
160,148

22 

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kensterrett60@gmail.com

16/12/2024, 10:47:02 GMT

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780515921bb377de9cc017d039e17f8fe0f59ca6

roger@rhmorrison.co.uk

16/12/2024, 11:09:42 GMT

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126b302818797672b1538727bed6eeb692fa03f9

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