Docusign Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
{A Compony Ilmlt&d by guarants•. not havlng a share capltall
Annual Report and Unaudited Financial Statements
for the financial year ended 31 March 2024
Company Number: N1068690
Charity Number: NIC106254

Docuslgn Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
{A company limited by guarantee, not havlng a share capital)
CONTENTS
Pago
Directors, and Other Infomiation
Directors, Annual Report
Statement of Directors, Responsibilities
Independent Examiner's Report
Statem8nt of Financial Activities
Balance Sheet
10
Notes to the Financial Statements

Docusign Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
IA company limited by guarante¥, not havlng a shara capltall
DIRECTORS, AND OTHER INFORMATION
Dlrectors
Mr.18in Davidson
Mrs. Laura Kirk (Resigned 6 June 2023)
Mr. Ken Bartley (Resigned 2 October 2023)
Ms. Claire McAuley
Dr. Emily Putnam
Mr. John D'Arcy (Appointed 4 January 2024)
Charlty Number In Northern Iroland
NIC106254
Company Reglstratlon Number
N1068690
Roglstorod Offl¢e and Prlnclpal Address
1 Exchange Place
Belfast
BT12NA
Independent Examlnfyr
Muldoon & Co
Chartered Accountants
16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland
Prlnclpal Banker8
Co-operative Bank
18 Donegall Squar6 North
Belfast
BT15GB

Do¢uslgn Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
(A company limited by guarantee, not having a share capltall
DIRECTORS. ANNUAL REPORT
for the financial year ended 31 March 2024
The directors present their Directors, Annual Report, combining the Directors, Report and Trustee5' Report. and the
unaudited financial statements for the financial year ended 31 March 2024.
The financial slalements are prepared in accordance with the Companies Act 2006, FRS 102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reportlng by Charities..
Statement of Recommended Practice appli¢8ble to charities preparing their financial stalemenls in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102).
The Directors, Report contains the infomialion required lo be provlded in the Directors, Annual Report under the
Statement of Recommended Practice ISORPI guidelines. The directors of tho c￿MpanY are also charity Iruslees for
the purpose of charity law and under the company's constitution are known as members of the board of trustees.
In this report the dir￿lor$ of Digital Arts Sludlos present a summary of its purpose, govemanc8. activitie5,
achievements and finances for the financial year 31 March 2024.
The company is limited by guarantee and 88 such doesn't have any share ¢8Pltal. The liability of each member is
limited to £1.
Prlnclpal Rlsks and Uncertalntles
The trustees have a risk man89ement strategy whlch comprises..
an annual revlew of the principal risks and uncertainties that the charity faces.,
the establishment of po51cies, systems and procedures lo miligale those risks idenllf16d in th6 annual revigw., and
the implemenlalion of procedures designed to mlnlmise or manage any potential Smpact on the ch8rSty should those
risks materialise.
This work is ongolng lo Identify that financial sustainability Is the major finanaal risk for the charity. A key element In
the management of financlal risk is a regular revi8w of avai18ble liquid funds to sellle dabls as they fall due.
Attention has also be8n focused on non-financial risks arising from fire, health and safety of artists and particSpant5,
management of performing rights and food hygiene. These risks are managed by ensuring accreditation is up to dal&,
havlng robust policies and procedures In place. and regular awareness training for staff working in these operallonal
areas.
Reference and Admlnlstratlve d¢tall$
The company Digital Art Studios Is limited by guBranlee and not h8vlng a shere capital, was Incorporated on 2 April
2008 and has charitable status
Ref. XT11395. The cnmpany registration number is N1068690. Ils princtpal and
registered office is 1 Exchange Place, Belfast, BT1 2NA. The company registered with the Charity Commission
Northern Ireland on 19 October 2017 and ils registration number is NIC 106254.
Dlrector5
The directors who served throughout the financial year, except as noted, were as follows:
laln Davidson
Mrs. Laura Kirk (Resigned 6 June 20231
Ken Bartley (Resigned 2 Odober 20231
M5. Claire McAuley
Dr. Emily Putnam
Mr. John DArcy {Appointed 4 January 2024)
ObJectlve8 and Actlvltles
The main obje¢llve is to promote digital arts lo the genoral public.
The activities during the year by Digital Arts Studios included a programme of artists resideneies, public talks,
exhibitions, and screenings a5 well a5 facilitating training and outreach actlvitles.

Docusign Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
IA company limitgd by guaranteo, not having a share capit#l}
DIRECTORS. ANNUAL REPORT
for the financial year ended 31 March 2024
Overvlew: Who We Are
DAS is a nol-for-profit, charity operating a sharad studio space based in Belfast's cultural Cathedral Quarter. DAS is
for artists and creatives lo work, learn and advance their careers. We were born out of a desire to support and
encourage visu81 artists whose work merges with digital le¢hnologies. We value and promote the convergence of art
and technology, and like those disciplines and industries we are dynamic and evolving.
DAS is the only facility of ils kind in Northern Ireland to promote the convergence of visual arts and digitsl
technologies. DAS specifically supports artists who engage in a wide range of creative activities grounded in visual art
whilst exploring new technologies.
The DAS team cons18ts of Dr Ange18 Halllday, Dr Catherine Devlin and Dr Richard Davi5 who collectively have over
60 years. experience of working in the arts. W8 are a technically skilled and experiencèd team with our own art
practices outside of our roles in DAS.
Suslalnablllty, growth and profllo
Following across-lhe-board organSsational growth in 2023-2024, DAS continues lo see Increased damand on
services. resources and programme. We comfortably 8chieve 100LTr/o Uptake on residencies, workshops and other
participatory opportunitl85. Our audience figure5 are growing exponentia51y, and our earned income Ss moderately
rising year on year, Th8 organisation has shown not only successful recovery followng covidllockdowns (March 2020
Oct 20211 and the1099 of premises in a fire (Oct 20221 bul has aGhi8ved steady gr0￿h sinc8 b8coming established
In our ourrenl premises 8t Exchange Place {Nov 2022 - presentl.
2023- 2024 Actlvlti8s and Programmlng
6 exhibitions showing work of 19 8rtists with 1292 publlc audlence
9 workshops wlth 56 p8rticipanls
13 intensive resid8nci8s for home artists
1 in18rnational residency
1 publlc panel discusslon on dlgilal art
2 artists, talks
1 digital artist meelup wSlh Concept Null
11 support hub particlpanls, receiving 65 hours of lechnlcal s¢Jpport
We also provided year-round equipment hire. d8sk hire and membershlp lo artlsts.
Fundlng Su¢co88
In 2023-2024 Digllal Arts Studios received fundlng from the following sources..
In July 2023 the Foyle Foundation awarded DAS £10.000 Iowgrds core costs over th8 following 12 months.
Belfast City Coun¢il awarded DAS an Artist Studios and Maker Sp8ces Organisational Grant of £8,800,
Th6 Arts Council of North8m Iréland awarded Digitals Arts Studios a grant of up to £9,997 from its National
Lollery funded Organisalion Digllal Evolution Awards for ils project XR Research & Development Lab.
ACNI awarded DAS through ils Annual Funding Programme- £63,673.
Total Funding Re￿ived. £92,470
Looklng forward to 2024-2025
Our priority for 2024-2025 is to sustain the cUr￿n1 levels of participation. audience and outcomes. We wish to
continue 8nd develop. without depleling our resou￿e$ despite ongoing long-lerm cuts lo arts funding. {Government
Investment in the arts in Nl has declined in cash lemis by 40% since 2011 1 The baseline alloc8ted to the Arts
Councils per capita are Nl.. £5.07, Wales.. £10.51 and Rol.. £22.50.)
We baliove that supporting the deltvery of our programme will bring continued growth as the programrne is designed
lo increase access, reach more people and engage audiences, both existing and new. We aim to continue lo raise
our profile both locally and intemalionally through exhibitions, residencles and the Fulure Labs Programme. We wsh
lo focus on developlng specrfi'c areas of the programme including a solo exhibition opportunlty for a local artist, the
creation of new digital athrk through our XR Lab and an International Residency.
The 2024-25 programme has been designed to support these development aims and our wider strategic priorltles.
htt s:Ilartscouncil-ni.or
Iresourcesla-
uide-to-advocac
facts, accessed 171h June 2024, 14-33.

Do¢usign Envelope ID.. 58934AI&FF2D417A-B87C-0675F805F415
Digital Arts Studios
IA Company Ilmltod by guaranto9, not havlng a share capital)
DIRECTORS, ANNUAL REPORT
for the financial year ended 31 March 2024
Our prlorllies in 2024-2025 are to..
Support increased demand on services, facilities, resources and opportunities by sustaining and maintaining
essentlal staff resources: speafically, th& Crealive Technician and the Residency Coordinator.
Increase capacity for provision of support services including
l. Support Hub
2. Workshops and training.. Future Labs Progr8mme
3. XR research and development Lab
4. Access lo equipment
Malntain and develop our profile through providing opportunSlles to produce and engage wllh digital art.
1. Increase awareness and understanding of digital art.
2. Create more online engagement with the public.
3. Reach more artlsls who work with dlgltal arts.
Long Term Ambltlons
DAS has a long-lerm ambltion lo deliver the first dedlcaled digital arts focused gallery in Belfast, alongside the studlo
provision. residency opportuniti85 and other resources that we currently provide. Thls ambition encompasses our
immedlale priority which is to acquire fully accessible premises. It also embraces our desire lo develop the support we
offer lo artists working in Belfast by providing a physical space to experiment with digital technology, to showcase new
media work and lo raise the profile of local digital artists by delivering an annual programme of innovative visual,
digital arts. These ambitions will require relocating premises lo a moro accesslble and fit-for-purpose space. This is
significant ch811enge given the costs of rent and the level of annual funding at standstill rates on an ongoing basls.
This is an even higher priority since the loss of our premlses in Donegall Street and relocation lo smaller premises in
Exchange Place. These premises are not fully accessible. and thèrefore we alm lo move as soon as Ss possible.
Flnanclal Revlew
The re$ulls for the year are Included on Page 9 of th& fin8nclal slatemenls.
Ro$erves pollcy
The direclor5' policy in relation to fr88 r8sery&s ig to ensura that Digital Art Studios achieves minimum reserves of at
18asl 6 months of the company's charitable activitl8S to maintain liquidity and to cov8r any unforeseen costs which
may arise and fulfil obligations of Digital Arts Studios in the event that currenl18vels of income 8re not maintained.
Free reserves are its lolal funds excluding restricted funds.
Structure, Governance and Manag¢mont
Digital Arts Studios is a company Ilmiled by guaranl8e govemed by its Memorandum and Artldes of Associatlon.
Digi181 Arts Studios is registered as a charity with the Charity Commission of Northern Ireland. Digital Arts Sludlo has
a board of directors and day lo day management of the company is delegated by the Board lo the organisatson's
management team.
Recrultmant and Appolntment of Dlrectors
The members of the company are also the Dir8clors. New directors have an Induction meeting with the Chair of the
Board. They are briefed on a range of issues inclucsing a full introduction lo the organisalion, ils decision-making
process, its business plan and ils recent financial perfomiance, and the roles and r6sponsibililies of a Board Member.
Speclal provlslons relating to small companles
The above report has been prepared in accordance with Ihe special provisions relating to small companies within Part
15 of the Companies Act 2006.
11-sep-24 1 15:46 BST
and slgned on Its bohalf by:
Approv&d by the Board of Diro¢tors on
8Wn•dty.
lain Davldson
Director

Docusign Envelope ID., 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
{A company limited by guarantee, not having a share capital)
STATEMENT OF DIRECTORS. RESPONSIBILITIES
for the financial year ended 31 March 2024
The directors are responsible for preparing the financial statements in accordance with applicable law and
regulations.
Company law requires the directors lo prepare financial slalemenls for each financial year. Under that law the
directors have elected lo prepare the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice {Uniled Kingdom Accounting Standards and applicable law} in¢luding FRS102 "The Financial
Reporting Standard applicable in the UK and Republic of Ireland" Under company18W the directors mu81 not approve
the financial statement5 unless they are satisfied that they give a true and fair view of the stale of affairs of the
company and of the net income or expenditure of the company for that period.
In preparing these financial statements, the directors are required to-
select suitable accounting policies and apply them consislenlly,.
make judgements and eslimales that are reasonable and prudent.
state whether the charit'es SORP (effective January 2019> in accordanc8 Wlth FRS102 has been followed- and
prepare the financial slalemenls on the golng concern basls unless il is in8ppropriale to presume that the
company will continue in operation.
The directors confirm that they have compli8d with the above requirements in preparlng the financlal statements.
The directors ar8 responslble for keeping adequate accountSng records that are sufflclent to show and explaln the
company's transactions and disclose with reasonable accuracy al any lime the financial position of the company and
enable them lo ensure that the financial slalements comply with the Charities Act (Northern Ireland) 2008. They are
also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention
and detection of fraud and other irregularities.
11-5ep-24 | 15:46 BST
and slgned on Its b&half by:
Approved by the Board of Dlroctors on
fi•4 by..
laln Davld8on
Dirgctor

Docusign Envelope ID.. 58934A18-FF2D417A-B87&0675F805F415
Digital Arts Studios
IA company Ilmited by gLsarantee, not having a share capltall
INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF
DIRECTORS OF DIGITAL ARTS STUDIOS
We report to the charity trustees on our examination of the accounts of the company for the year ended 31 March
2024. which are set out on pages 9 to 16.
R•spo¢tlve responslbilitles of dlrectors and examlner
As the charity truste8s land also the directors of the company for the purposes of company law) you are responsible
for the preparation of the accounts in accordance with the requirement5 of the Companies Act 2006 and the Charities
Act (Northem Ireland) 2008. Having satisfied ourselv8s that the charity is not subject to audit under company 18W,
and is eligible for independent examination it is our responsibility lo:
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008.,
follow the procedures laid down by the general Directions given by the Charity Commlssion for Northern Ireland
under section 65191(bl of the Charities Act., and
slate whether particular mallers have o)me lo our attention.
Basls of Indopondent examlnor's report
We have examined your charity accounts as required under section 65 of the Charities Acl and our examination was
carried out in 8ccordance with the general Directions given by the Charity Commission for Northern Ireland under
section 65(9}Ibl of the Charllles A¢1. The examination included a review of the accounting records kept by the charlty
and a comparison of the accounts presented with those records. 11 also included consideration of the accounts
presented with those records. 11 also included consideration of any unusual items or disclosures in the accounts and
seeking explanations from you as charfly trustees concerning any such matters.
Our role Is lo slate whether any material mattérs have come to our 8tt8ntion glving us cause to b61ieve;
1. That accounting records were not kept In 8ccordance with section 386 of th6 Companies Act 2006..
2. That the accounts do not accord with those accounting records.,
3. That the accounts do not comply with the accounting requirements of section 396 of the Compan16s Act 2006 and
wllh the methods and principles of the Charities Statement of Recommended Pracllce applicable to chari118S
preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic
of Ireland., and
4. That there is further information needed for a proper und8rstandSng of the accounts to be reaGh8d.
Independent O
We have comp
connection with
that require draw
amlnar's statement
ed our examination and have no concems Sn respect of the matters11) 10 (41 Ilsled above and, In
Ilowing the Directions of the Charity Commission for Northern Ireland, we hav8 found no mallers
to your attention.
MUL
Charte
ed Accountants
16 Mount Charles
Belfast
BT71NZ
Northem Ireland
Dato: ..¥

Docusign Envelope10'. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
IA company limited by guarantee, not having a share capilall
STATEMENT OF FINANCIAL ACTIVITIES
Ilncorporating an In¢om• and Exp•nditUT& A¢¢ountl
for the financial year ended 31 March 2024
Unrestricted Restricted
Funds
Funds
2024
2024
Total Unrestricted Restricted
Funds
Funds
Funds
2024
2023
2023
Total
Funds
2023
Notes
Income
Donations and legac¢es
Charitable activities
Other income
2.303
3.435
53,124
2,303
119,766
53,124
5.260
466
88,207
93,467
466
116.331
Totsl Incoma
5.726
88,207
93,933
58,862
116.331
175,193
Expenditurn
Charitable activities
9,942
103,948
113,890
6,240
84,111
90,351
Net Incomel{oxpendltura)
{4.216) {15,741) {19,957)
52.622
32.220
84,842
Transfers between funds
(15,741)
15,741
32,368
(32,3681
Net movement In funds for
the flnanclal yoar
(19,957)
{19,957)
84,9SY)
{148)
84,842
Reconcillatlon of funds:
Total funds beglnnlng of the
year
13
116,319
116.319
31,329
148
31.477
Total funds at the end of
the year
96,362
96.362
116,319
116,319
The Statement of Flnancial ActlvltS0s Includes all gains and1055es recognisèd in the financial year.
All income and expenditure relate to continuing actlvllles.
The notes on pages 11 to 16 fom part of th8 finanoal slalemenl8

DOcus￿n Envelope ID.. 58934A18-FF2D417A-B87&0675F805F415
Digital Arts Studios
IA company limited by guarantee. not havlng a Sharo ¢apital}
Company Number: N1068690
BALANCE SHEET
as al 31 March 2024
2024
2023
Notes
Flxed Assets
Tangible assets
30.305
36,968
Currént A$gets
Debtors
Cash al bank and In hand
10
748
69,011
1,5
83,346
69,759
84,936
Credltors: Amounts falllng due wlthln one year
11
(3.702)
{5.585)
Not Current Assets
66.057
79,351
Total A888t$ less Current Llabllltle8
96.362
116,319
Funds
General fund {unre5tricled)
96,362
116,319
Total funds
13
96,362
116,319
These finandal slalements havè been prepared in occordance wllh the special provlslons relatlng to sm811 companies
wllhin Part 15 of the Companies Act 2006.
For the financl81 year ended 31 March 2024 the company was enlltled to exemption from audll under sedion 477 of
the Companies Act 2006,. and no notice has been deposlled under section 476.
The directors confftm that the members hav6 not required the company to oblaln an audit of ils financial statements
for the fSnancia1 yegr in quesllon in accordance with section 476 of the Compani85 Act 2006.
The directors acknowledge their responslbllities for ensuring that the company keeps accounting records which
comply with section 386 and for preparing financial statements which give a true and fair view of the slate of affairs of
the company as al the end of the financial year and of its profit and loss for the financial year In accordance with the
requirements of sections 394 and 395 and which olhemise comply wllh the requirements ol the Companies Act 2006
relating to financlal stalemenls. so far as applicable to the company.
11-Sep-24 | 15:46 BST
and slgned on Its
Approvod by the Board of Dlrector8 and authorlsed for18su• on
behalf by
by..
laln Davldson
Dlrector
The notes on pages 11 to 16 frjrm part of the finanual siaiemenls
10

DOcus￿n Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
Digital Arts Studios
IA company limited by guarantee. not having a shar¢ capitsl)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
GENERAL INFORMATION
Digital Arts Studios is a company limited by guarantee incorporated in Northern Ireland under company
Registration N1068690. It is a regisl8red ch8rity number NIC106254 with the Charity Commission for Northern
Ireland and is a registered charity number XT11395 with HMRC. The registered office of the company is 1
Exchange Place. Belfast, 8T1 2NA which is also the principal place of business of the company. The finan￿al
statements have been presented in Pound Sterfing 1£) which is also the functional Currency of the company.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policiB5 havg been applied consistently in deallng with Items which are Consldered
material in relation lo the charity's financial ststements.
8a$ls of preparatlon
Statement of compliance
The financial slalements have been prepared In accordance wllh the Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102), the Companies Act
2006 and UK Generally Accepted Accounting Practice. The charity has applied Update Bullelln 1 as published
on 2 February 2016 and does not include a cash flow slalement on the grounds 11 is applylng FRS 102
Section 1 A.
The financial statements have prepared under the hlslorlcal cost conventlon. The financSal statements are
presenlad in stérling which is the functional currency of the charity and rounded to the nearest £1,
The significant 8ccounllng pollcies applled In the preparation of these financial stal8m8nts ar8 s81 oul bèlow.
These policies have been consistently applied to all years presented unless otherwise stated.
Cash flow ststem8nt
The company has availed of the exemption In FRS 102 from the requirement to produce a cash flow
slalement because it is classified as a small company.
Fund a¢countlng
The following are the catègories of funds malntsined..
Restrlctsd fund8
Restricted funds are funds which are to be used in accordance with specffic restrictions imposed by donors or
which have been raised by the charity for partScular purposes. The cost of raising and adminislerfng such
funds are charged against the specific fund. The aim and use of each reslrlcted fund is set out Sn the notes to
the financial ststemenls.
Unregtrlcted funds
Unrestricted funds are available for ijse al the disC￿li0n of the trustees In furtherance of the general
objectives of the charity and which have not been designated for other purposes.
Income
All incoming resources are included in the Statement of Financial Aclivili8s ISoFA} when tho charity islogally
enlilled lo the income after any performance conditions have bèen met, the amount can be measured reliably
and it is probable that the income will be received.
For donations lo be recognised the charity will have been notrfied of the amounts and the settlement dale in
wrlling. If there are conditions 8ttached lo the donation and this requires a level of performance before
enlillement Can be obtained then income is deferred until those conditions are fully mel or the fulfilment of
those conditions is within the control of the charity and il is probable that they wll b& fulfilled.
Donated facilities and donated profes$lon81 services are recognised in income at their fair value when their
economic benefit is pmbable, it can be measured reliably and the charity has control over the item. Fair value
is determined on the basis of the value of the gift to the charity. For example the amount the charity would be
willing to pay in the open market for such facililles and seNices. A corresponding amount is recognised in
expenditurè.
No amount is included in the financial statements for volunteer lime in line with the SORP IFRS 1021.
11

Do¢usign Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
conlinued
Digital Arts Studios
IA company limited by guarantee, not havlng a share capital}
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 Martsh 2024
Where pracllcable, gifts in kind donated for distribution lo the beneficiaries of the charity are included in stock
and donations in the financial stat8ments upon receipt. If it is impracticable lo assess the fair value at receipt
or if the costs to undertake such 8 valuation oubmeigh any benefits, then Ihe fair valu8 is recognised as a
component of donations when il is distributed and an equivalent amount recognised as charitable expenditure.
Income from government and other grants are recognised al fair value when the charity has entitlement after
any performance conditions have been mel, il is probable that the income will be received and the amount
can be measured reliably. If enlillement is not mel then these amounts are deferred.
Exp8nditur•
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to
make payments to third parties, it is probable that the settlement will be required and the amount of the
obligation can b8 measured reliably. Irrecoverable VAT is charged as an expense agalnsl Ihg activity for
which expenditure arose.
Allocatlon of Support Costs
Support costs are those functions that asslsl the work of the charlty but do not dlrectly undertake charllable
actlvities. Support costs include back office costs, finance, personnel, payroll and governance costs which
support the Charity's artistic programmes and activities. Thes8 Costs hav8 been allocated be￿88n cost of
raising funds and expenditure on charitable activities.
Debtor8 and credltors ro¢glvable In one year
Debtors and creditors with no stated Interest rate and recelvable or payable wllhin one year are recorded al
transaction price. Any losses arlsin9 from impairment are recognised in expendilure.
Tanglblo flxod a8S&ts and depreclatlon
Tangible fixed assets are slated al cost or at valuation. less accumulated depreciation. The charge to
depreciation is calculated lo write off the orlginal cost or valuation of tangible flxed assets, less their estimated
residual valu8. over their expected useful lives as follows..
Flxlures, flttlngs 8nd equipment
250A Straight line
D&btoro
Debtors are recognSsed al the selllemenl amount due after any discount offered. Prepayments 8re valued at
the amount prepaid net of any trade discounts due. Income recognlsed by the company from government
agencies and other ¢o-funders, bul not yét received at year end, is included in debtors.
Cash at bank and In hand
Cash al bank and in hand comprises cash on dèposit al banks requiring less than three months notlce of
withdrawal.
Taxatlon
No current or deferred taxation arises 88 the Company has been granted Gharitable exemption. Irrecoverable
valued added tax is &xpensed as incurred.
The charity is an exempt charity and is considered lo pass the lests out in Paragraph 1 Schedule 6 Finance
Act 2010 and therefore il meets the definition of a charllable company for UK corporation lax purposes.
GOING CONCERN
The financial slalements have been prepared on a going concern basis as the Iruslees believo that no
material uncertainties exist. The trustees have considered the level of funds held and the expected lev81 of
income and expenditure for 12 months from authorising these financial statements. Tho budgeted income and
expenditure is sufficient with the level of reserves for Ihe charity lo be able lo continue as a going concern.
12

Docuslgn Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
continued
Digital Arts Studios
IA company limltad by guarant8è, not havlng a shar8 capltall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
INCOME
DONATIONS AND LEGACIES
Unr¢$trl¢ted Rostrlcted
Funds
Funds
2024
2023
Voluntary Income
2,303
CHARITABLE ACTIVITIES
Unrestrlcted Restrlcted
Funds
Funds
2024
2023
Grants from govarnmants and other co-fundars:
Arts Council for Northern Ireland
Belfast Council
Residents rentals
Setwice Provision
Workshops
Members
Enkalon Foundation
Support Hubs
Foyle Foundation
69,407
8,800
69,407
8.800
2.595
714
325
91
107,831
8.000
1.350
1,110
195
30
500
750
2,595
714
325
91
1,535
1,535
10,000
10,000
5,260
88,207
93,467
119,766
OTHER INCOME
Unr6strl¢ted R•strlct•d
Funds
Funds
2024
2023
Other Income
466
466
53,124
EXPENDITURE
CHARITABLE ACTIVITIES
Dlr0¢t
Costs
Oth•r
Costs
Support
Costs
2024
2023
Workshop Costs
Rates
Insurance
Support costs
Rent payabl8
Artists costs
Materials and equlpmenl
Wages and salaries
Catering & Hospitality
1,410
1,561
3,489
1,410
1,561
3,489
19,070
8.291
3,174
1.848
73,810
1.237
2.016
1,698
15,817
8.752
1.530
1.698
57,677
1,163
19,070
8.291
3,174
1,848
73,810
1,237
94,820
19,070
113,890
90,351
13

Docusign Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
continued
Digital Arts Studios
{A company Ilmlttrd by guarantee, not havlng a 5hJre capltall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
SUPPORT COSTS
Charitabl•
Activities
2024
2023
Surplusesldeficits on disposal of langibles
Memberships
Depreciation on fixtures,fittings and equipment
Staff Training
Printing postage & Slation&ry
Repairs & maintenance
Communication costs
General expenses
Publications & marketing
Governance cost - accountancy fees
4,436
148
1.804
2.066
136
963
1.963
793
940
2,568
256
9,942
330
140
151
3,808
1,373
438
2,632
256
9.942
330
140
151
3,808
1,373
438
2,632
19,070
19.070
15,817
Th8 accountancy fee include8 an ind8P@ndenl examination f88 of £1,650 {2023. £1,570)
NET INCOME
2024
2023
Net Income Is statod after ¢harglngl{credltlngl:
Depreciation of tangibl8 assets
{Surplusydeficit on disposal of tangible fixed 8ssels
9,942
1.804
4,436
INVESTMENT AND OTHER INCOME
2024
2023
Insurance clalms receivable
466
53,124
EMPLOYEES AND REMUNERATION
Number of employees
The average number of persons employed lincludSng execullve directors) during the flnanclal year was as
follows..
2024
Number
2023
Number
Number of Employees
The staff costs comprisè..
2024
2023
Wages and salaries
Pension costs
68,155
5,655
53,868
3,809
73,810
57,677
No directors re￿iVed any remuneration in the year12023'. £NILI
14

Docusign Envelope ID.. 58934A1&FF2D417A.B87C_0675F805F415
continued
Digital Arts Studios
{A company Ilm5ted by guarant•a, not havlng o sharn eapitall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
TANGIBLE FIXED ASSETS
Fixtures,
flttings and
equlpment
Total
Cost
At 1 April 2023
Additions
38,772
3,279
38.772
3,279
At 31 March 2024
42.051
42,051
Dopreclatlon
At 1 April 2023
Charge for the financlal year
1.804
9.942
1,804
9,942
At 31 March 2024
11,746
11.746
Not book value
At 31 March 2024
30.305
30,305
At 31 March 2023
36,968
36,968
10.
DEBTORS
2024
2023
Other debtors
TaxalSon and soclal securfly costs
Prepayments 8nd accrued income
1,066
524
748
748
1,590
11.
CREDITORS
Amount8 fallSng duè wlthln one ygar
2024
2023
Taxation and social security costs
Accruals and deferred income..
Pension accrual
Other accruals
1,188
514
2,000
420
5,165
3,702
5,585
12.
RESERVES
2024
2023
Al the beginning of the year
(Deficilllsurplus for the financi81 year
116,319
(19,957}
31,477
84,842
At the end of the year
96,362
116,319
15

Docu51gn Envelope ID.. 58934A18-FF2D417A-B87C-0675F805F415
continued
Digital Arts Studios
IA company limited by guarantee, not having a share capltall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 M8r¢h 2024
13.
FUNDS
13.1 RECONCILIATION OF MOVEMENT IN FUNDS
Unrestri¢ted
Funds
Totsl
Funds
At 1 April 2022
Movement during the financial year
31,329
84.990
31,477
84,842
At 31 March 2023
Movement during the financial year
116,319
119,957)
116,319
(19,957>
At 31 March 2024
96.362
96.362
13.2 ANALYSIS OF MOVEMENTS ON FUNDS
Balan¢&
1 Aprll
2023
Incom6 Exp¢ndlture
Transfor8
betwean
funds
8alanco
31 Mar¢h
2024
ACNI
Belfast Councll
Foyle Foundation
69,407
8,800
10,000
85,148
8,800
10,000
15,741
88,207
103,948
15,741
Unr6strlcted funds
Unreslricled General
116.319
5,726
9,942
{15,741)
96,362
Total fund8
116.319
93,933
113,890
96,362
Arts Council Northern Ireland Is for the purpose of core and program costs.
Belfast Council is for the purpose of program costs.
Foy16 Foundallon is for the purpose of core costs.
13.3 ANALYSIS OF NET ASSETS BY FUND
Flxed
ass6t8
charlty u80
Current
assets
Current
liabilltles
Total
Restricted trust funds
Unrestricted general funds
30.305
69,759
(3,702)
96,362
30,305
69,759
13,702)
96,362
14.
STATUS
The company is limited by guarantee and as such doesn't have any share capital. The liability of each
memb8r is limited to £1.
15.
POST-BALANCE SHEET EVENTS
There have been no signfflcanl events affecting the Charity since the year-end.
16