Blick Shared Studios NI062998 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is Support to artistic enterprises Digita Accounts Production Advanced 6.30.9574.0 true NI062998 2023-03-01 2024-02-29 NI062998 2024-02-29 NI062998 core:CurrentFinancialInstruments 2024-02-29 NI062998 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 NI062998 core:FurnitureFittingsToolsEquipment 2024-02-29 NI062998 bus:SmallEntities 2023-03-01 2024-02-29 NI062998 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI062998 bus:FilletedAccounts 2023-03-01 2024-02-29 NI062998 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI062998 bus:RegisteredOffice 2023-03-01 2024-02-29 NI062998 bus:Director1 2023-03-01 2024-02-29 NI062998 bus:Director2 2023-03-01 2024-02-29 NI062998 bus:Director3 2023-03-01 2024-02-29 NI062998 bus:Director4 2023-03-01 2024-02-29 NI062998 bus:CompanyLimitedByGuarantee 2023-03-01 2024-02-29 NI062998 core:FurnitureFittings 2023-03-01 2024-02-29 NI062998 countries:NorthernIreland 2023-03-01 2024-02-29 NI062998 2023-02-28 NI062998 core:FurnitureFittingsToolsEquipment 2023-02-28 NI062998 2022-03-01 2023-02-28 NI062998 2023-02-28 NI062998 core:CurrentFinancialInstruments 2023-02-28 NI062998 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure

Registration number: NI062998

Blick Shared Studios

(A company limited by guarantee)

Filleted Financial Statements

for the Year Ended 29 February 2024

 

Blick Shared Studios

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Blick Shared Studios

Company Information

Directors

Timothy John Brundle

Catherine McGinnis

Alistair Fee

John Patrick Haran

Registered office

46 Hill Street
Belfast
Co Antrim
BT1 2LB

 

Blick Shared Studios

(Registration number: NI062998)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

3,091

12,108

Cash at bank and in hand

 

92,737

90,547

 

95,828

102,655

Creditors: Amounts falling due within one year

(8,744)

(10,365)

Net assets

 

87,084

92,290

Reserves

 

Other reserves

92,291

84,845

Retained earnings

(5,207)

7,445

Surplus

 

87,084

92,290

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

.........................................
Catherine McGinnis
Director

 

Blick Shared Studios

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
46 Hill Street
Belfast
Co Antrim
BT1 2LB

These financial statements were authorised for issue by the Board on 26 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Blick Shared Studios

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Blick Shared Studios

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

17,839

17,839

At 29 February 2024

17,839

17,839

Depreciation

At 1 March 2023

17,839

17,839

At 29 February 2024

17,839

17,839

Carrying amount

At 29 February 2024

-

-

5

Debtors

2024
£

2023
£

Trade debtors

4,004

2,722

Other debtors

(913)

9,386

3,091

12,108

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

6,532

7,548

Taxation and social security

 

1,084

1,767

Other creditors

 

1,128

1,050

 

8,744

10,365