for the Period Ended 29 February 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 29 February 2024
Directors
The directors shown below have held office during the whole of the period from
1 March 2023
to
29 February 2024
The director shown below has held office during the period of
1 March 2023
to
18 August 2023
The director shown below has held office during the period of
1 March 2023
to
3 April 2023
The director shown below has held office during the period of
3 April 2023
to
29 February 2024
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Administrative expenses: |
(
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(
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Other operating income: |
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Operating profit(or loss): |
( |
( |
Profit(or loss) before tax: |
( |
( |
Tax: |
(
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Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 5 |
(
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 29 February 2024
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 29 February 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 29 February 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 March 2023 |
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Additions |
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Disposals | ||||||
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Transfers | ||||||
At 29 February 2024 |
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Depreciation | ||||||
At 1 March 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 29 February 2024 |
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Net book value | ||||||
At 29 February 2024 |
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At 28 February 2023 |
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for the Period Ended 29 February 2024
2024 | 2023 | |
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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for the Period Ended 29 February 2024
2024 | 2023 | |
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£ | £ | |
Accruals and deferred income |
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Other creditors |
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Total |
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Irwell House Artists’ Studios CIC (IHAS, incorporated February 2017 and publicly known as Paradise Works) is an artist studio provider with a community of 40+ contemporary artists. IHAS also has two gallery spaces which host a range of different art exhibitions and artist film showcases. During the financial year 2023-24, our CIC objective to provide sustainable studio space and professional development opportunities to artists working within Salford and Manchester was met through: 1. Studio provision to a community of 38 artists who were enabled to produce artworks including sculpture, drawing, painting, film, photography, public art, curation, design and sound. 2. Gallery, residency space and screening space as hireable resources to artist members making work or digital exhibitions. 3. Successful Arts Council England (ACE) applications benefited artists through... A. Profile raising opportunities for members with spotlight and features on social media. B. We developed the audience for members via our active online presence, i.e., website, newsletter, social media, and video hosting sites. C. Opportunities for studio members through showcases at local art fairs such as the Manchester Contemporary, mentoring commissions, exhibitions in our gallery and networking events. 4. We continued to offer graduate placement partnership with University of Salford and Manchester School of Art awarded 2 graduates a 12-month studio with informal mentoring opportunities with established artists from the existing membership. 5. We established a new partnership with the Haworth Trust, providing a scholarship to two artists, which included a paid studio, material, and mentoring budget. This enables the artist to build and establish their careers within a secure environment. 6. Delivering a socially engaged workshop programme led by studio members to Salford residents, raising awareness of local environmental issues whilst diversifying skill sets, funded by Recycling for Greater Manchester Community Fund. This provided income sources and work experience to three early career artists. We also delivered a socially engaged mental wellbeing workshop funded by Salford CVS led by an in-house artist. Both activities supported our alignment to local authority strategic aims. 7. We also improved our programming creating a more socially engaged programme within our exhibition spaces looking at environment and climate change. This allowed us to work and develop early-career curator and support them in making international connections. 8. By appointing a premises manager, the organisation made significant studio improvements thereby increasing safety and satisfaction of studio members. This included H&S, security, lighting, signage, and fire safety to ensure we are a safe working environment for our artists. 9. We continued to provide mentoring and professional development for our team from our Advisory Board as well as externals to help improve our business model and income generation going forward. Paradise Works improved organisational resilience during 2023/24 through the recent appointment of a new Director, Jessica Bennett. Jessica as been working closely with Salford Council as well as the landlord to improve the infrastructure of the space as well as looking at potential capital development plans going forward.
The company’s primary stakeholders are studio members. Our studio members were consulted through quarterly socials alongside face-to-face and email correspondence, with this feedback informing studio improvements/expansions, and the shape of programming activity such as Open Studios, Multiples sales opportunities and studio visits/tours. The memberships’ Artist Direction Group (ADG) were consulted in greater depth on organisational and programming decision making and were responsible for the selection of new studio members from our waiting list and graduate award applications, as well as the fair allocation of larger studios between existing studio members. Directors marketed, shortlisted, and appointed two new board members and formalised the roles of two further long-time supporters of IHAS. Our newly established advisory board has been consulted and supported our CIC decisions over the lease, building and governance model. They have since been working with the new director to establish a new business plan for IHAS. Wider stakeholders include our activity partners: Manchester School of Art, Salford University Art Collection, Arts Council England, Urban Splash (landlords), Salford Council/ Salford Culture and Place Partnership, The Haworth Trust, Salford CVS and Bridgewater Residents Association. Directors met with key individuals from each organisation to discuss and agree the means of project or programming delivery.
During the year 2023-24, a total of £11,910 was paid in fees to the Directors for their duties. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation
No transfer of assets other than for full consideration
This report was approved by the board of directors on
29 November 2024
And signed on behalf of the board by:
Name: Jessica Bennett
Status: Director