REGISTERED COMPANY NifMBER: N1643892 (Northern Ireland)
REGISTERED CHARfTY NUMBER: 106675
Report of the Trusteey and
Unaudited Flnanclal Statements
for the Year Knded 31 March 2025
for
Vault Artlst Studio$
M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

Vault Artist Studios
Contents of the Financial Statements
for the Year Ended 31 March 2025
PAge
Report of the Trusteej
Independent E￿Iner'S Report
Statement of Flnancigl ActlvltAes
Balance Sheet
8 to 9
Notes to the Flnanefi￿ StAtements
10 tr) 16
Detailed Statement of Financial Activitie8
17 to 18

Vault Artist Studios
Report of the Trustees
for the Year Ended 31 March 2025
Sunllna
of the
ear
The 2024125 year continued to present significant challenges for Vault Artist Studios, as the organisation worked to
establish its identity and operations across two separdte buildings rather than a single, consolidated site. This
transition required CODsiderable adaptation from tnembers, staff, and ITUStees, and shaped much of the orgaDisation's
activity throughout the year.
Members based at Slwjkill Mission faced particular challenges with building repairs, including a leabng roof. As
result, some members were unable to fully access or use their studio spaces for periods of time, leading to disruption in
artistic practice and continuity of Work. These challenges reinforced the ongoing impact that building Collditions and
security of tenure have on the stability of the organisation and its n]embership.
The precarious natt]re of operdting without a long-tern4 secure tenancy continued to place pressure on Vault Artist
Studios during the year. Trustses recognise that it remains difficult to stabilise, plan, and the organisation
without secure premxses, and that tbis Ternai￿ a key stratsgic concern. The organisation therefore ren￿InS committed
to advocating for sustsinable, long-ternl space for artists in Belf&st, both for its own ￿tUre and as part of a wider
sectoral issue.
In ¢ontras¢ the relocation of the gallery to Marlborougb House in Belfast city centre has had a markedly positive
in]pact. Its central location enabled the gallery team to establish a vibrant and visible exhibition progranllne,
significantly increasing opportunities to showcase members, work and to participate in city-wide initiatives such as
Belfast Late Night Art. This Iw been a traDsfornMtive development for Vault Artist Studios, and trustses
acknowledge the strong contribution of the gallery team in creating a culturally SI￿lficallt and welcoming space
within the city ¢¢ntre.
During the year, the or8anisation undertook a comprehensive m¢mber8bip survey better to understand men]ber
den￿￿aphi¢s, needs, and shared values. The fmdings infornied a values-led strategic planning process led by the
board and stsff, developed in support of a major funding application. While this application was ultimately
unsuccessful, the proce&s itself strengthened orgaD-isational clarity, governance. and long-tern] planning, and will
continue to underpin future development.
Vault Artist Studios continued its partnership with Belfast Buildings Trust. Vault remained actively engaged in
sector-wide discussioJ]s with other Belfast-based artist studios regarding the ongoing challenges of securing affordabEe
and appropriate workspace. Trustees also contributed to discussions with Belfast City Council regarding
Commissioned research exami￿ these issues at a city-wide level.
To support the practical operation of its buildings, the organisation appointed a new Facilities Officer during the year.
This role has been instrunmtal in mallaging day-to4lay building i￿u¢S and coordinating responses to ongoing
maintetvance challenges, particularly at Shankill MissioL
The official opening of the Shanktll Mission building t¢x)k place during the year, marking an important milestone for
the organisation. Trustees extend continued thanks to Argyle Business Centre for their generosity and practical
support in enabling the use of this building. The opening of the dance studio at Sbankill Mission for both member and
public bire has since proven to be a vital Tesource, supporting dancer men]beTS while also providing wider comn]uNty
access to creative space.
Despite ongoing challenges. Vault Artist Studios remains committed to supporting its members, 5trengthenxng
organisational resilience, and continuing to work towards the long-terni goal of securing stsbl¢, sustainable premises.
The dedication of member5, sts£ aud trustees during a period of continued uncertainty demonstrates the strength of
the organisation and its ongoing relevance within Belfast's cultural infrastrncture.
Over th¢ r¢porting period, Vault Artist Studios attracted ll￿re than 5,000 visitors to its programme of exbibitions,
workshops, talks, screenings. and art markets. Tbe programxne involved over 300 artists and enabled more than 400
participants to engage in workshops and classes facilitsted by members.

Vault Artist Sthdios
Report of the Trustees
for the Year Ended 31 March 2025
T￿￿tees, staff, freelancers, and members continued to work collaboratively to strengthen organisational capacity
through targeted fundraising activity. During the year. the organisation s¢cured support from a nutnber of key funding
progrdmmes, including..
- Dornwit Accounts Fund (delivered by the National Lottery)
- Belf&st City Council OrganisatioDal Support Grant
- Arts Council of Northern Ireland Small Grants
- Belfast City Council Small Grants
In additio￿ Vault Artist Studios continued to benefit from both f]nancial support and capacity-building assistance
through the Arts & Business Nl Blueprint Progranllne.
Despite a successful year of fimdraising, the organisation experienced a challenging financial year. Disruption arising
from reloration and the work required to prepare the new buildings significantly affected earned income, with room
hire revenue decreasing considerably. Rising energy costs also renwined a constant pressure, pa￿'cularlY in operating
nd maintaining two separate buildings.
Trustses
Linda McBurney was appointed Chairperson in April 2024. Kristi Campbell was appointed Co-challperson in
September 2025. Eoin McGinn w&8 appointed Secretary in April 2025. Emma Sbarye was appointed as a Trustee in
April 2025.

Vault Artist Studios
Report of the Trustees
for the Year Ended 31 March 2025
OBJECTIVES AND ACTIvfTIES
Objectives and ain
(l) Promote arts and creativity to the general public in the GTeater Belfast area and its environs (the "area of benefit")
by:
(a) establishing and maintaining one or more Arts Centres that will provide affordabl¢ studio, office and space to Work
for artists and craftspeople on tern]s appropriate to their It￿, enabling direct engagement with other artists,
craftspeople and the public in a studio or workspace setting"
(b) protnotmg, organising and delivering events which improve public access to, and participation arts and crafts.
(c) organising workshops and seminars, and enabling the use of facilities by community groups and orgatiisatioDS:
(d) encouTaging interest raising awareness of and fostering the development of creativelexperimental projects;
(e) encouraging and fostering a view of the arts as a medium of iDforn]ation, expression and advanCen￿ryt.
(2) Promote cornrnunity development and the regeneration of local areas
occupying fornKrly empty
pren)iseslbuildmgs and, where appropriat¢, preserving, n￿Anta]n]llg and in¥>roving such facilities.
What do we do and how do we do it
> We salvage disused buildings as affordable space for people to make art and support creativity.
> We foster engagement amongst our members to develop new ways of working and strengthen our impact as L
collective.
> We provide an alternative independent platforni for challenging and celebrating the arts.
What nLqkeJ us different?
>Our tnembers cover a broad raoge of art and creative disciplines.
>Our independence allows us trj organise around their individual needs and invest in ea¢h other.
> Our collective attitude gives us the energy to affect the change that n]atteTS to us.
Benefidari¢s
OUT beneficiaties fall under three distinct categories: our members. to whom we provide affordable workspaces and
support; other arts profe&8ionals and ¢omnll￿ty wups who rent spaces on an adhoc basis. and the general public
who attend our exhibitions and events.
Membe
We Provide affordable workspaces to our artist menthers. Our membership includes artists from across a wide Tange of
creative disciplines and practices at all stsges of their careers.
Our n￿mberS include those that work as..
> Visual artists (in¢luding painters, sculptors, perforn]aDce artists, soulld artists, phOtO￿apherS, printinakers, craft
makers, curators,
street artists. textile artists. illustrators)
> FiInYn￿eTS (including directors. producers, writers, animators, nwtion graphic designers, actors)
> Community artists and facilitstors
>Theatre makers (including actors, writers, directors, producers)
> OtILer perforniing artists (including ciwus, street perforn]ers, dancers, choreographers)
> Writers (including literature. graphic novelslcomic artists)
> Musicians (including songwTiters. singers, traditional musicians, bands, composers)
Room reDtalJ
We provide short terni r¢ntal opportunities to ails professionals, commullity groups and individuals. Uses of rent¢d
spaces include..
> Classes ( dancing, health and wellbeing (Yo8￿ pilates)
> Rehearsals (theatre, danc¢)

Vault Artist Studios
Report of the Trustees
for the Year Ended 31 March 2025
> Youth groups
> Partnerships with other local arts organisations such &$ East Side arts, Belfast Buildings Trnst as venues
Slgnifi¢ant aetivitiej
Events
Mutual Flux Pro
The Vault Artist Studios Mutual Flux Progran)me was a multidiscipjinary, artist-led development initiative in Belfast
runni￿ througb in 24125, fimded by Belfast City cou￿11, offering skill-sharing, WOTkshops Oike poety, 3D
modelling, finance), talks, and peer learning for local artists. aiming to foster Community and cr¢alive growth through
events like "Anyone Can...
' sessions. It fOC￿ed on hands-on learning* Collaboratio￿ and pwtical skills for creatives.
providing support and a vibrant space for artists to conll￿t and develop.
e¢ts of Mutual Flux..
> Artist-Led: Created and nm by members of Vault Artist Studios for fellow artists and students.
> Focus on Peer Learning: EMpl￿8]sed collaboration, skill-skning. and mutual support.
Diverse Workshops: Included sessions on video content Creatio￿ fuJallc¢ for creatives, 3D modellin& ¢asual
letterin& and poety.
> cOmnll￿ty Building: Designed to connect young ¢reativ¢s and provide a welcoming space.
> Funding: Supported by Belfast City Council's Art Sti￿10s Organisational Grant.
Mutual Flux Events
>Finance For Artists by Sinéad ONeill Nicholl. Training. January 10th.
Artist involv¢d: 15. Beneficiaries audience and participants.. 15
>Arts Facilitation Training by Elaine Taylor. Workshop. February 27th.
Artists involved: l6. Beneficiaries audience and participants.. 16
>WhaVs Stopping You? Maknng Live Work by Alice Malseed. Workshop. March 21st.
Artists involved: 7. Beneficiaries audience and participants: 7
>ArtSpe8k Gmup Crits facilitated by Laura Nelson. Group Crit. Ja￿ Feb, March.
Artists involved: 15. Beneficiaries audience and participants: 15
STRu￿uRE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing docunlent, a deed of trust, and constitutes a limited con￿)anY, limited by
guaTantee. as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
N1643892 (Northern Ireland)
Registered Charlty llumber
106675
Registsred office
ShankiLL Mission Building
116 ShaDkill Road
B¢lfast
Co. Antrim
BT13 2BD

Vault Artist Studios
Report of the Trustees
for the Year Ended 31 March 2025
Trustees
L McBurney
K Campbell
M W Ditchfield
M M Patton
E McGinn
E Sharpe (appointed 181412024)
C B A Murphy (appointed 201312025)
Company Seeretary
K Campbell
Kndependent Examiner
Seamus McLernon
M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH
Approved by order of the board of trustees on .....
. and signed on its behalf by:
L McBurney- Trustee

Independent Examiner's Report to the Trustees of
Vault Artist Studioo
I report on the accounts of the company for the year ended 31 March 2025. which are set out on pages seven to
sixteen.
Respective responslbilitieg of charity trustees and eIamlner
As the ¢hariWs trustees (and also the directors for the purposes of company law) you are respoDsible for the
preparation of the accounts in a¢¢ord&nce with the requirements of the Companies Act 2006.
Having satisfied myseIf that the charity is not subject to audit under company law and is eligible for independent
examination, it is my responsibility to:
examine the accounts under Section 65 of the Clwities Act
follow the procedures laid down in the gener￿ Directions given by the Cliarity CoJ])missioo for Northern
Ireland under Section 65(9Xb) of the Clwities Act
state whether particular matters have come to my attention.
Basis of the independent eiAminer's report
I have examined your clwity 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 CEwity Con)mi5sion for Northern Ireland under
Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity
and a con]paTison of the accounts presented with those records. It also included consideration of any unusual ltell￿ OT
disclosures in the accounts, and seeking explanations from you as clwity trustses concerning any such matters.
My role is to state whether any material matters have Come to my attention giving me cause to believe:
That accounting records were not kept in accorda￿¢ with Section 386 of the Companies Act 2006
That the accounts do not accord with those accounting re¢or(1s
That the accounts do not comply with the accounting requirements of Se¢tion 396 of the Companies Act 2006
and with the methods and principles of the Charities Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland
That there is further inforniation 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 (l) to (4) listed above and, in
connection with following the DiTectioDS of the Clwity Commission for Northern treland, I have found no matters
that require drawing to your attention.
Seamus McLernon
M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

Vault Artist Studios
Statement of Financial Activfities
for the Year Ended 31 March 2025
3113125
Tot21
funds
3113124
Total
fundj
Unrestrlcted
fund
Restricted
fund
Notes
INCOME AND ENDOWMEY4TS FROM
Donations and legacies
36,445
36,447
40,049
Charitable activitles
General
65,434
119,563
184,997
137,735
Totsl
101,879
119,565
221,444
177,784
ExPElYD￿uRE OIY
Raising fi￿d$
1,997
Charitable actlvitles
General
94J50
107858
201.808
151,917
Other
874
20,766
21,640
36,212
Total
95,224
128,224
223,448
190,126
NET INCOMEI(EXPENDITURE)
6,655
(8,659)
(2,004)
(12,342)
RECONCILIATION OF FUNDS
Totsl funds brought forward
16,149
8,659
24,808
37,150
TOTAL FUNDS CARIUED FORWARD
22,804
22,804
24,808
The notes form part of these financial statements

Vault Artist Studlos
Balance Sheet
31 March 2025
3113125
3113124
Notes
FIXED ASSETS
Tangible assets
13,798
11,633
CURRENT ASSETS
Stocks
Debtors
Cash at bank
270
11,868
29.119
611
5,924
33,933
41,257
40,468
CREDITORS
Amounts falling due within one year
io
(32351)
{27,293)
IYET CURRENT ASSETS
9,006
13,175
TOTAL ASSETS LESS CURRENT
LIABILITIES
22,804
24,808
NET ASSETS
22,804
24,808
FUNDS
Ul￿stric*d fund5
Restricted funds
12
22,804
16.149
8.659
TOTAL FUIYDS
22,804
24,808
The clwitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The tr￿Stee8 acknowledge their responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
(b) preparitig financial statements which give a true and fair view of the stste of affairs of the charitable con4)any
at the end of each financial year and of its surplus or deficit for eacb financial year in accordance with the
requirernents of Sections 394 and 395 and which otherwise conwly with the requirements of the Companies
Act 2006 relating to financial statenlents, so faT as applicable to the cbaritable company.
The notes forn) part of these financial statements
continued...

Vault Artist Studios
Balance Sheet - continued
31 March 2025
These financial statetnents have been prepared in accordance with the provisions applicable to clwitable companies
8ubje¢t to the small companies regime.
The fin cial statements were approved by the Board of TTUStees and authorised for issue
. and were signed on its behalf by:
on
L McBurney - Trustee
The notes forni part of these fmancial statements

Vault Artist Studios
Notes to the Financial Statements
for the Year Ended 31 March 2025
ACCOUNTtNG POLICIES
Bayis of preparing the fmancial statement$
The fll)ancial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Clwities: Statement
of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),,
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost
convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fijnds,
it is Probabl¢ that tbe income will be received and the amount can be measured reliably.
Expendlture
Liabilities are recognised &s expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable tbat a transfer of econon]ic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accountsd for on an accruals basis and
has been classified under headings that aggregate all cost related to the category. Where costs cannot be
directly attributed to particular headings they have been allocated to activities on a b&sis consistent with the use
of resources.
T2ngible r￿ed assets
Depreciation is provided at the following annual rates in order to v￿Lte off each asset over its estimated useful
life.
Plant and machinery etc
25 % Straight Line
Computer Equlpn￿nt
20 % Straight Line
Stoeks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving itetL8.
Taxatfion
The charity is exempt from corporation tsx on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restrictsd funds can only be used for particutar restricted purposes within the objects of the charlty.
Restrictions arise when specified by the donor or when funds are raised for particular restricted pury)oses.
Furtller explanation of the nature and purpose of each fund is included in the notss to the financial statements.
Pension costs and other post-retirement benefit8
The charitable company operates a defined contribution pension scheme. Contributions payable to the
charitable coMpan￿S pension scheme are charged to the statell￿nt of Financial Activities in the period to
which they Telat¢.
io
continued...

Vault Artist Stsdios
Notes to the Financlal Statements - continued
for the Year Ended 31 March 2025
tNCOME FROM CHARITABLE ACTIVITIES
3113125
3113124
Total
actlvlties
General
Grants
Other clwitsble income
Members Tental income
Room Hire Jncome
Member Events Income
119,857
1,486
40,215
18,109
5.330
85,341
5,484
35,453
5J30
6,127
184,997
137,735
Grants received, included in the above, are as follows:
3113125
3113124
Gener
119,857
85,341
NET llYCOMEI(EXPENDITURE)
Net incomel(expenditure) is ststed after ¢harginW(crediting):
3113125
3113124
Depreciation- owned assets
6,717
6,709
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year
ended 31 March 2024.
Tru$teu' expenses
There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended
31 March 2024.
li
continued...

Vault Artist Studios
Notes to the Financial Statements - eontinued
for the Year Ended 31 March 2025
STAFF COSTS
The average monthly number of employees during the year was as follows..
3113125
3113124
No employees received en￿lUIDents in excess of £60,000.
COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
fund
Total
funds
LYCOME D ENDOWMENTS FROM
Donations and legacies
40,047
. 40,049
Charitsble actkvltiej
General
52,894
84,841
137,735
Total
92,941
84,843
177,784
EXPEM)ITURE ON
Raising funds
1,997
1,997
Charltable activities
General
75,058
76,859
151,917
Other
27,517
8,695
36,212
Total
104,572
85,554
190,126
1¥4ET INCOMEI(EXPENDITURE)
(11,631)
(711)
{12,342)
RECONCILIATION OF FUNDS
Total fi￿dS brought forward
27,780
9.370
37,150
TOTAL FUNDS CARRIED FORWARD
16.149
8,659
24,808
12
Continued...

Vault Artist Studios
Notes to the Financlal Statements - continued
for the Year Ended 31 March 2025
TAIYGIBLE FIXED ASSETS
Fixtures
and
rittings
Computer
equipment
Totals
COST
At l April 2024
Additions
Disposals
28,990
5,175
(85)
5,625
4,110
(318)
34,615
9,285
(403)
At 31 March 2025
34,080
9,417
43,497
DEPRECIATION
At l April 2024
Charge for year
18J99
6J88
4,583
329
22,982
6,717
At 31 March 2025
24,787
4912
29,699
NET BOOK VALUE
At 31 March 2025
9,293
4,505
13,798
At 31 March 2024
10,591
1,042
11,633
STOCKS
31￿￿5
3113124
Stocks
270
611
DEBTORS: AMOUNTS FALLING DUE WITlllN ONE YEAR
3113125
3113124
Trade debtors
Other debtors
Prepaynents and accrued income
5,896
4,529
1,443
5,465
208
251
11,868
5,924
13
continued...

Vault Artist Studi05
Notes to the Financial Statements- continued
for the Year Ended 31 March 2025
io.
CREDITORS: AMOUNTS FALLING DUE ￿THIN ONE YEAR
3113125
3113124
Trade creditors
Social securlty and other taxes
Other creditors
Accrnals and deferred income
9JOS
3,452
1,421
17,873
420
1,198
25,675
32,251
27,293
ii.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
3113125
Total
fuDds
3113ll4
Total
fundj
Unrestricted
fund
Restricted
fulld
Fixed assets
Cuttent assets
cU￿ent liabilities
5,135
41,257
(23,588)
13,798
41,257
(32,251)
11,633
40,468
(27,293)
(8,663)
22,804
22,804
24,808
12.
MOVEMENf IN FUNDS
Net
movement
in funds
At
3113125
At 114124
Unrestricted funds
General fund
16,149
6,655
22,804
Restricted funds
Restricted funds
8,659
(8,659)
TOTAL FUNDS
24,808
(2.004)
22,804
Net movement in funds, included in the above are as follows:
Incomlng
resources
Resources
¢4￿nded
Movement
ill funds
Unrestrlcted funds
General fund
101,879
(95,224)
6,655
Restricted funds
Restricted funds
119,565
(128224)
(8,659)
TOTAL FUNDS
221,444
(223,448)
(2,004)
14
continued...

Vault Artist Stsdios
Notes to the Financlal Statements - continued
for the Year Ended 31 March 2025
12.
MOVEMENT IN FUNDS- eontinued
Comparatfves for movement in funds
Net
movement
in funds
At
3113124
At 114123
Unrestricted funds
General fimd
27,780
(11,631)
16,149
Restricted funds
Restricted funds
9,370
(711)
8,659
TOTAL FUNDS
37,150
(12,342)
24,808
Con￿aT8￿Ve net movement in fimds, included in the above are as follows:
Incomtng
resource$
Resources
e￿ended
Movement
in funds
Unrestricted fundj
General fund
92,941
(104,572)
(11,631)
Restricted funds
Restricted funds
84,843
(85,554)
(711)
TOTAL FUNDS
177.784
(190,126)
(12,342)
A cuzrent year 12 months and prior year 12 months combined position is as follows..
Net
ovement
In funds
At
3113125
At 114123
Unrestricted funds
General fund
27,780
(4,976)
22.804
Restricted funds
Restricted funds
9,370
(9,370)
TOTAL FUNDS
37,150
(14,346)
22,804
15
continued...

Vault Artist Studios
Notes to the Financial Statements - continued
for the Year Ended 31 March 2025
12.
MOVEMEI¥4T tN FUNDS - continued
A cutTent year 12 months and prior year 12 months combined net movement in funds, included in the abov¢
are &s follows..
In¢oDJing
resources
Resources
expended
Movement
in funds
Unrestrfictsd funds
General fund
194,820
(199,796)
(4,976)
Restrleted funds
Restricted funds
204,408
(213,778)
(9,370)
TOTAL FUNDS
399,228
(413,574)
(14,346)
13.
RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 March 2025.
16

Vault Artist Studios
Detailed Ststement of Flnancial Acdvltles
for the Year Ended 31 March 2025
3113125
3113124
INCOME AND EiYDOWMENTS
Donalfions and legacies
Donations
Subscriptions
2,337
34,110
7,030
33.019
36,447
40,049
Charitable activities
Grants
Other charitable income
Members r¢ll￿ income
Room Hire tncome
Member Events Income
119,857
1,486
40,215
18,109
5J30
85,341
5,484
35.453
5,330
6,127
184997
137,735
Totsl incoming resources
221,444
177,784
EXPENDITURE
Other trading activitiej
Bad debts
1,997
Charltable actlvlties
Artist costs
12,296
10,241
Other
Freelance & C&8ual staff wages
21,640
36,212
Support costs
Management
Wages
Pensions
Rates and watsr
Insurance
Light and beat
Telephone
Postage and stationery
Advertising
Sundries
Repairs and Maintenance
Legal and profe55ional
Carried foThvard
66,857
1,996
7,471
1,080
37,983
1,957
1,774
1,105
2,574
50,906
7,338
181,041
35,572
743
11,776
975
21,621
1.367
1,123
4,424
9,782
43,470
3,323
134,176
This pag¢ does oot forni part of the statutory fjnancial statements
17

Vault Artist Studios
Detailed Statement of Flnaneial Activitiei
for the Year Ended 31 Marcb 2025
31n125
3113124
Management
Brought forward
Subscriptions
Depreciation of tangible and heritage wets
181,041
353
7,120
134,176
150
6,709
188,514
141,035
Fhnance
Bank charges
998
641
Total resources expended
223,448
190,126
Net expendithre
(2,004)
(12,342)
This page doe8 not forni part of the statutory financial statements
18