for the Period Ended 28 February 2025
| 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 28 February 2025
Directors
The directors shown below have held office during the whole of the period from
1 March 2024
to
28 February 2025
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
| 2025 | 2024 | |
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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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| Other operating income: |
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| Operating profit(or loss): |
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| Profit(or loss) before tax: |
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| Tax: |
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| Profit(or loss) for the financial year: |
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As at
| Notes | 2025 | 2024 | |
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| Fixed assets | |||
| Tangible assets: | 3 |
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| Debtors: | 4 |
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| Cash at bank and in hand: |
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| Creditors: amounts falling due within one year: | 5 |
(
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(
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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 28 February 2025
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 28 February 2025
| 2025 | 2024 | |
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| Average number of employees during the period |
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for the Period Ended 28 February 2025
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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| Cost | £ | £ | £ | £ | £ | £ |
| At 1 March 2024 |
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| At 28 February 2025 |
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| At 28 February 2025 |
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| At 28 February 2025 |
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| At 29 February 2024 |
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for the Period Ended 28 February 2025
| 2025 | 2024 | |
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| £ | £ | |
| Trade debtors |
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| Prepayments and accrued income |
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| Total |
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for the Period Ended 28 February 2025
| 2025 | 2024 | |
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| £ | £ | |
| Taxation and social security |
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| Accruals and deferred income |
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| Other creditors |
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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 44 contemporary artists. IHAS also has two gallery spaces that host a range of exhibitions and artist film showcases. During the financial year 2024–25, 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 44 artists, enabling the production of artworks including sculpture, drawing, painting, film, photography, public art, curation, design and sound. 2. Gallery, residency space and screening space offered as hireable resources to artist members producing work or digital exhibitions. 3. We further improved access to space for artists and audiences by relocating our main gallery to the ground floor and creating additional studio spaces, increasing accessibility and capacity within the building. 4. We have also raised the international profile of the studios by hosting international artists and facilitating collaborations between them and our in-house artists on exhibitions and artistic projects. 5. Successful Arts Council England (ACE) applications which benefited artists by: A. Raising the profile of our members through spotlights and features on social media. B. Developing audiences via our active online presence, including website, newsletter, social media, and video hosting platforms. C. Providing opportunities for studio members through showcases at local art fairs such as The Manchester Contemporary, mentoring commissions, exhibitions in our gallery and networking events. D. We continued to offer a graduate placement partnership with the University of Salford and Manchester School of Art, awarding two graduates a 12-month studio with informal mentoring opportunities from established artists within the membership. E. We expanded partnership working, including a new collaboration with the Haworth Trust, providing two artists with a scholarship including a paid studio, materials budget and mentoring provision, enabling artists to build and establish their careers in a secure environment. 6. We delivered a socially engaged workshop programme led by studio members for Salford residents, raising awareness of local environmental issues while diversifying skill sets. Funded by the Recycling for Greater Manchester Community Fund, this provided income and work experience for three early-career artists. We also delivered a mental wellbeing workshop funded by Salford CVS and led by an in-house artist. Both projects supported alignment with local authority strategic aims. 7. We continued to refine and improve our exhibitions programming, developing a more socially engaged focus addressing themes such as environment and climate change. This enabled us to work with and support an early-career curator in developing international connections. 8. By appointing a premises manager, IHAS made significant studio improvements to increase safety and satisfaction among our members. Enhancements included improvements to health & safety, security, lighting, signage and fire safety to ensure a safe working environment.
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. These also reached internationally with FRAME Finland. Directors met with key individuals from each organisation to discuss and agree on the means of project or programming delivery.
During the year 2024-25, a total of £17,600 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 2025
And signed on behalf of the board by:
Name: Jessica Bennett
Status: Director