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← Seacourt Print Workshop Limited

2025-03-31-accounts

Registered number NI024162

Seacourt Print Workshop Ltd

Report and Unaudited Accounts for the year ended 31 March 2025

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

Marianne Kennerley - Chair Louise De'Ath - Honorary Treasurer Ryan Young - Vice Chair Dr Ken Sterrett Margaret Arthur Christine Morrow Kate Liddell – appointed January 2025 Marian Noone - appointed January 2025 Laura Whitehouse - appointed January 2025 Emma Drury – Company Secretary

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 business 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

I am delighted to present my first Chairperson’s Statement and the Trustees’ Report for the year ending 31st March 2025. This period was one of the most transformative in Seacourt Print Workshop’s history, defined by the successful delivery of a major capital project that ensures long-term financial security through the ownership of this landmark building.

I took over the position of Chair in February 2025, succeeding Dr. Ken Sterrett. On behalf of the Board, I extend our gratitude to Ken for his years of dedicated service and leadership in the vision that secured Seacourt’s future. The board successfully managed this transition to ensure continuity of strategic oversight throughout the capital project.

The central focus of the year was the completion of the ground floor renovation, a project enabled by the dedication of the staff team, volunteers and the diligence of the Board's oversight. This was not simply a refurbishment; it was the cornerstone of our Strategic Plan 2020-2025 with the aim of achieving long term financial sustainability. By acquiring and renovating the premises, we have secured an asset and mitigated several long-term risks.

The Board is therefore particularly grateful for the significant support received through the Community Ownership Fund, Foyle Foundation, Esmee Mitchell Trust, Arts and Business Blueprint, Community Finance Ireland, and our principal funder, the Arts Council of Northern Ireland alongside the direct donations from the Seacourt community. This was a clear demonstration of Seacourt’s strong connections with the people it serves. The success of the ‘Banking on Seacourt’ initiative—a true testament to the belief in this vision—has established a resilient foundation for the decades to come.

The operational achievements detailed by the Director are outstanding, particularly the team’s ability to deliver a vibrant program despite a six-month closure and the logistical challenges of resettlement. This includes our successful October reopening and the introduction of Late Night Art Bangor.

From a governance point of view, the Board’s primary focus was maintaining financial stability in an uncertain climate. We welcomed the uplift to our Annual Funding from the Arts Council of Northern Ireland, which proved critical in managing climbing utility and overhead costs, and we continued to prioritise the diversification of our income streams, supported by the Arts & Business Blueprint Programme. As outlined in the Risk Management section of this report, the Board is satisfied that key operational and financial risks, including the significant impact of a major capital project, were appropriately identified, managed, and mitigated throughout the reporting period.

Looking ahead, the Board’s immediate priorities will focus on the development of the next strategic plan, work that I am personally looking forward to delivering. Understanding how to leverage our new asset to expand "the magic or printmaking"; developing earned income; building on the success of the new exhibition space and promoting the workshop space and studio offerings. Our immediate goal is to significantly build our reserves to ensure our long-term stability and

Thank you to the talented staff team, our volunteers, the members, and my committed colleagues on the Board of Directors. It is through this collective vision and energy that Seacourt Print Workshop will realise its potential at the heart of building a creative, healthy and prosperous place.

Signed by the Chairperson on 15 December 2025

Marianne Kennerle y

signed on 18/12/2025, 20:02:44 GMT Marianne Kennerley Chairperson

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 2025.

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 charities 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 PURPOSE

Share the magic of printmaking.

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:

These objectives are underpinned by 2 important organisational goals:

Strengthen our organisation - Deliver ongoing improvements in our operating processes, internal and external communications

so that our services are excellent.

Achieve financial sustainability - Increase our earned income and diversify our funding so that we can grow and develop .

3

Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

OUR ACHIEVEMENTS IN 2024-2025:

It was a landmark year for Seacourt Court Print Workshop as we undertook the phase 1 redevelopment of our building made possible by the fundraising initiative “Banking on Seacourt” with the aim of securing the building through purchase. Spring 2024 was a busy period of surveys and discussions with our architects Knox Markwell about the project. The aim of our phase 1 renovation was to undertake works that would improve accessibility and circulation on the ground floor; essential repairs to the building to make it water tight; making changes required to secure our building control certification and fulfil the terms of our planning permission; and creating improved spaces that would open up opportunity to generate income via space and sales. In late February 2024 we issued a public competition for a works contract and in early March we invited three contractors to submit a tender for the required works. We were able to appoint our contractor, DA Wishart in April 2024 with a provisional project start of late May 2024.

The team worked round the clock to pack up the workshop and send our equipment into a storage so that a 4-month intensive renovation could commence. Heavy equipment was made mobile with the addition of castors, and many hours of voluntary effort was involved in getting ready to hand the keys to our contractor.

September 2025 saw a month of volunteer effort to decorate and reset the workshop in anticipation of relaunch. A team of 10 plus volunteers worked with our staff team to set the new workshop space and prepare to welcome members back for printmaking services.

Blueprint Programme

Seacourt is one of 17 leading arts organisations who are part of the innovative Arts and Business programme that provides training and development, peer support and unrestricted funding that can be used to support our journey towards greater financial resilience. In 2024 – 2025 the £15,000 grant provided resources to help us navigate the impact of a 6-month closure and to refit additional rooms creating a ground floor residency room and additional studio space on our first floor.

As part of her participation in the programme our Direct Emma Drury shared Seacourt’s story at the NICVA Community Summit and at the Blueprint Funders Forum.

HIGHLIGHTS OF 2024/2025 Programme

Despite our closure we delivered a vibrant programme to fulfil our purpose - sharing the magic of printmaking. The following gives an overview of the events, activities and programmes we delivered.

Our Exhibition Programme

We relaunched with our inaugural exhibition was “Pecking Order” - a retrospective exhibition of prints and paper sculptures by Penny Brewill RE. Penny was invited to hold our first solo exhibition in the newly refurbished Seacourt Print Workshop in recognition of her long association, and outstanding contribution to fine art printing.

Seacourt artists Steph Harrison, Imogen Donegan, Craig Jefferson and Jessica Hollywood were commissioned to create new prints for an exhibition at the Court House Bangor resulting in “Bangor is an energy” in December 2024.

In December we relaunched our members gallery with our Members’ Christmas Collection and transformed the banking hall into a Christmas Print Bazaar which included multi-disciplinary work by our members.

As part of our continuing Kelpra Artists and Printmakers series, we launched ‘Spotlight on Joe Tilson” at Late Night Art Bangor in March 2025. This collection of pop art screen prints proved to be a huge hit with audiences.

Shared printmaking

Courses

Whilst we were closed the teaching team reviewed our courses and workshop offering, taking a ‘back to basics’ approach and considering the building blocks of teaching each technique. These strong and considered courses prepare people for membership at Seacourt equipping them with technical know-how that they can apply to art making.

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.

Open Days and Tasters

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 and 60 people attended print experiences.

4

Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

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.

Inspired by the constructed sculptures in her exhibition, Penny Brewill designed a project for the Art and Design Educators Association (AADE). The Print Box Project engaged 10 teachers in creating 2D print constructions that depicted their favourite place. The resulting work was shown in our members gallery in April 2025. This was the first of a continuing programme of printmaking for the AADE giving teachers the opportunity to explore a range of techniques and art making challenges.

Supporting the sector

As we resettled into our building Seacourt was involved in setting up s steering group for a Bangor Business Improvement District (BID) including forming a legal company and advocacy and lobbying for funding to formally set up a local BID.

Working as a creative cluster with our friends at BOOM and The Court House we set up Late Night Art Bangor which demonstrated the local community’s interest in and support for the local creative scene.

We also engaged with local creatives to hear about needs and aspirations, work that will continue into the future and help chape future programmes.

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.

5

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 2024-2025 reporting period:

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 4 classes of membership of Seacourt as set out in the Articles of Association:

1. Individual Members (incluing Studio Menbers)

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.

4. 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;

 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 creative 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:

CORE COSTS

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 £64,020 to cover salaries and a proportion of our overheads.

Ards and North Down Borough Council provided Multi Annual Funding for 2024/2025 and 2025/2025 at £5000 per annum again towards overhead and running costs.

PROJECT FUNDING

In addition to core funding, we secured grants towards staffing and projects:

 Art Work - Future Screens NI awarded us a three-year funding package of £21,918 per annum towards the costs of an Operations Coordinator.

 Arts and Business Blueprint programme awarded £15,000 (£13,345 drawn down) towards refitting and support for period of closure.

BANKING ON SEACOURT

The final picture of support as outlined below was made up of c£500,000 in grants or donations and the remainder social investment.

CAPITAL FUNDING

Capital grants received in 2024 – 2025 included £74,999 from Foyle Foundation and £65,000 from Community Finance Ireland

8

Seacourt Print Workshop Ltd Registered number: NI024162 Directors' Report

RESERVES POLICY:

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 Seacourt’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 2024 was £19,000 and on 31 March 2025 was £14,000.

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 having secured our building we have an asset that in time will help us to grow our income. Our priority is to increase free reserves to £45,000.

FINANCIAL SUSTAINABILITY:

The key priority for 2024-2025 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 15 December 2025 and signed on its behalf.

Marianne Kennerle y

signed on 18/12/2025, 20:02:44 GMTMarianne Kennerley Chairperson

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 2025

I report on the accounts for the company for the year ended 31 March 2025.

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.

Ro er Morrison g

signed on 19/12/2025, 08:40:53 GMT Roger Morrison B.A. (Hons) F.C.A. Chartered Accountant 95 Cregagh Road Belfast BT6 8PY

15 December 2025

10

Seacourt Print Workshop Ltd Statement of financial activities for the year ended 31 March 2025

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 2024
Net movement in funds
Transfer between funds
Fund balance at 31 March 2025		 Unrestricted
funds
2025
£
14,529
33,294
-
20,123
67,946
13,385
49,466
28,462
91,313
(23,367)
417,136
(23,367)
75,968
469,737		 Restricted
funds
2025
£
-
-
179,147
-
179,147
21,101
88,998
2,297
112,396
66,751
60,384
66,751
(75,968)
51,167		 Total
2025
£
14,529
33,294
179,147
20,123
247,093
34,486
138,464
30,759
203,709
43,384
477,520
43,384
-
520,904		 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

11

Seacourt Print Workshop Ltd
Registered number:
Balance Sheet
as at 31 March 2025
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 (liabilities)/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		 NI024162
2025
£
740,414
5,358
3,201
21,437
29,996
(74,751)
(44,755)
695,659
(174,755)
520,904
469,736
51,168
520,904		 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

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.

Marianne Kennerle y

signed on 18/12/2025, 20:02:44 GMT Marianne Kennerley Chairperson

Approved by the board on 15 December 2025

12

Seacourt Print Workshop Ltd Statement of Changes in Equity for the year ended 31 March 2025

Share
Share
capital
premium
£
£
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
-
-
At 1 April 2024
-
-
Net movement in funds
Transfer between funds
Other comprehensive income for the
financial year
-
-
Total comprehensive income for the
financial year
-
-
At 31 March 2025
-
-		 Restricted
fund
£
28,251
312,610
(280,477)
(280,477)
32,133
60,384
60,384
66,752
(75,968)
(75,968)
(9,216)
51,168		 General
funds
£
171,450
(34,791)
280,477
280,477
245,686
417,136
417,136
(23,368)
75,968
75,968
52,600
469,736		 Total
£
199,701
277,819
-
-
277,819
477,520
477,520
43,384
-
-
43,384
520,904

13

Seacourt Print Workshop Ltd Notes to the Accounts for the year ended 31 March 2025

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 2025

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 2025

3 Analysis of governance and support costs

Salaries
Management and administration
Establishment
Advertising
Legal and professional
Depreciation		 Cost of
generating
funds
£
19,359
1,876
-
-
-
-
21,235		 Resource
provision
£
37,383
4,263
30,028
651
-
32,008
104,333		 Governance
£
4,330
23,744
358
-
1,674
653
30,759

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		 2025
Number
2
2025
£
54,570
6,474
61,044		 2024
Number
3
2024
£
54,356
4,641
58,997

No employees had employee benefits in excess of £60,000 (2024: 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 (2024: nil), neither were they reimbursed expenses during the year (2024: nil). No director received payment for professional or other services supplied to the Charity (2024: nil).

16

Seacourt Print Workshop Ltd Notes to the Accounts

for the year ended 31 March 2025

6 Tangible fixed assets

Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
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
£
579,954
200,348
780,302
62,043
21,898
83,941
696,361
517,911		 Furniture
and
equipment
£
164,476
6,808
171,284
116,468
10,763
127,231
44,053
48,008
2025
£
3,201
2025
£
62,393
248
3,131
8,979
74,751
2025
£
174,755		 Total
£
744,430
207,156
951,586
178,511
32,661
211,172
740,414
565,919
2024
£
28,211
2024
£
21,660
842
620
12,919
36,041
2024
£
162,213

17

Seacourt Print Workshop Ltd Notes to the Accounts for the year ended 31 March 2025

10 Loans
Creditors include:
Instalments falling due for payment after more than five years
Secured bank loans		 2025
£
88,115
174,755		 2024
£
-
-

Community Finance Ireland hold a first legal charge over the property at 75 Main Street Bangor BT20 5AF.

11 Controlling party

The controlling parties are the guarantors.

12 Analysis of charitable funds
General reserve
Restricted reserves:
Arts Council for NI Core Funding
Ards Borough Council
Future Screens NI
Arts & Business Blueprint Programme
Community Ownership Revenue Fund
Foyle Foundation
Total restricted funds
Total funds		 At
1 April 2024
417,136
-
-
11,795
-
48,589
-
60,384
477,520		 Income
67,945
64,020
5,545
21,039
13,545
-
74,999
179,148
247,093		 Expenditure
(91,313)
(64,020)
(4,997)
(25,275)
(11,711)
(6,393)
-
(112,396)
(203,709)		 Transfers
75,968
-
-
(969)
-
-
(74,999)
(75,968)
-		 At
31 March 2025
469,736
-
548
6,590
1,834
42,196
-
51,168
520,904

Name of restricted fund

Description, nature and purposes of the fund

Arts Council for NI Core Funding Ards Borough Council

Future Screens NI Arts & Business Blueprint Programme Community Ownership Revenue Fund Foyle Foundation

to cover salaries and a proportion of our overheads.

includes £5,000 Multi Annual Funding towards overhead and running costs and £545 Experience Fund towards piloting new experience programmes. towards staffing costs

for refitting and support during period of closure revenue award to help manage project delivery capital funding towards new buidling

18

Seacourt Print Workshop Ltd Notes to the Accounts for the year ended 31 March 2025

13 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

14 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
2024
£
12,207
32,429
-
13,228
57,864
11,775
66,739
14,141
92,655
(34,791)		 Restricted
funds
2024
£
300,000
-
117,305
-
417,305
19,208
67,672
17,815
104,695
312,610		 Total
2024
£
312,207
32,429
117,305
13,228
475,169
30,983
134,411
31,956
197,350
277,819

19

Seacourt Print Workshop Ltd Detailed statement of financial activities for the year ended 31 March 2025

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
Blueprint grant
Future Screens NI
Foyle Foundation - Outreach/Education Officer
ANDBC Multi Annual Funding
Clear Small Grant
Total incoming resources		 Unrestricted
Funds
2025
£
12,607
1,922
-
14,529
12,821
16,147
2,050
1,788
488
33,294
19,635
488
20,123
-
-
-
-
-
-
-
-
67,946		 Restricted
Funds
2025
£
-
-
-
-
-
-
-
-
-
-
-
-
-
64,020
-
13,545
21,038
74,999
5,545
-
179,147
179,147		 Total
2025
12,607
1,922
-
14,529
12,821
16,147
2,050
1,788
488
33,294
19,635
488
20,123
64,020
-
13,545
21,038
74,999
5,545
-
179,147
247,093		 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

20

Seacourt Print Workshop Ltd Detailed statement of financial activities for the year ended 31 March 2025

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
Other direct costs
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
2025
£
-
-
1,123
7,378
82
-
391
443
218
3,750
13,385
-
-
212
554
165
8,569
2,758
2,277
471
-
-
82
651
391
393
717
32,008
218
49,466		 Restricted
Funds
2025
£
17,311
2,048
1,000
-
-
742
-
-
-
-
21,101
33,412
3,971
23,545
-
6,897
-
-
6,107
2,070
10,534
742
-
-
-
50
1,670
-
-
88,998		 Total
2025
17,311
2,048
2,123
7,378
82
742
391
443
218
3,750
34,486
33,412
3,971
23,757
554
7,062
8,569
2,758
8,384
2,541
10,534
742
82
651
391
443
2,387
32,008
218
138,464		 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

21

Seacourt Print Workshop Ltd Detailed statement of financial activities for the year ended 31 March 2025

This schedule does not form part of the statutory accounts
Governance costs:
Wages and salaries
Pensions
Staff training and welfare
Motor expenses
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
2025
£
3,847
-
28
68
168
7
171
12
301
82
392
572
444
16,983
53
877
202
653
1,928
1,674
-
-
28,462
91,312		 Restricted
Funds
2025
£
-
455
-
-
-
-
-
-
443
-
-
-
-
-
-
1,399
-
-
-
-
-
-
2,297
112,397		 Total
2025
3,847
455
28
68
168
7
171
12
744
82
392
572
444
16,983
53
2,276
202
653
1,928
1,674
-
-
30,759
203,709		 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

22 

Signatures' technical details

Signatures

mariannekennerley@gmail.com

18/12/2025, 20:02:44 GMT

Fingerprint

470721f285b87ea98e443cbcc42417f790666649

roger@rhmorrison.co.uk

19/12/2025, 08:40:53 GMT

Fingerprint

4bb1ecca04d1876b98f7f4e436460d8831cea08d

Event log

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Summary

Summary
Envelope's ID: 48g7inbj
Document's hash: c1862ea8a1c3dbbb82a99e9d1a0fa38cb0045807dbfe12586d4d029316409d84
Final stamp: 19/12/2025, 08:40:55 GMT

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