IRWELL HOUSE ARTISTS' STUDIOS CIC

Company limited by guarantee

Company Registration Number:
10640282 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2025

Period of accounts

Start date: 1 March 2024

End date: 28 February 2025

IRWELL HOUSE ARTISTS' STUDIOS CIC

Contents of the Financial Statements

for the Period Ended 28 February 2025

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

IRWELL HOUSE ARTISTS' STUDIOS CIC

Directors' report period ended 28 February 2025

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

Jessica Murphy
Alexandra Bennett
Jessica Bennett


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
28 November 2025

And signed on behalf of the board by:
Name: Jessica Bennett
Status: Director

IRWELL HOUSE ARTISTS' STUDIOS CIC

Profit And Loss Account

for the Period Ended 28 February 2025

2025 2024


£

£
Turnover: 6,551 6,835
Cost of sales: ( 6,676 ) ( 5,715 )
Gross profit(or loss): (125) 1,120
Administrative expenses: ( 110,134 ) ( 94,067 )
Other operating income: 117,660 83,135
Operating profit(or loss): 7,401 (9,812)
Profit(or loss) before tax: 7,401 (9,812)
Tax: 968 ( 899 )
Profit(or loss) for the financial year: 8,369 (10,711)

IRWELL HOUSE ARTISTS' STUDIOS CIC

Balance sheet

As at 28 February 2025

Notes 2025 2024


£

£
Fixed assets
Tangible assets: 3 8,989 13,980
Total fixed assets: 8,989 13,980
Current assets
Debtors: 4 8,013 6,677
Cash at bank and in hand: 25,383 24,520
Total current assets: 33,396 31,197
Creditors: amounts falling due within one year: 5 ( 5,946 ) ( 17,107 )
Net current assets (liabilities): 27,450 14,090
Total assets less current liabilities: 36,439 28,070
Total net assets (liabilities): 36,439 28,070
Members' funds
Profit and loss account: 36,439 28,070
Total members' funds: 36,439 28,070

The notes form part of these financial statements

IRWELL HOUSE ARTISTS' STUDIOS CIC

Balance sheet statements

For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 28 November 2025
and signed on behalf of the board by:

Name: Jessica Bennett
Status: Director

The notes form part of these financial statements

IRWELL HOUSE ARTISTS' STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Land & buildings - 5 years straight line Plant & machinery - 5 years straight line

IRWELL HOUSE ARTISTS' STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 0 0

IRWELL HOUSE ARTISTS' STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2024 34,045 1,534 35,579
Additions
Disposals
Revaluations
Transfers
At 28 February 2025 34,045 1,534 35,579
Depreciation
At 1 March 2024 20,131 1,468 21,599
Charge for year 4,959 32 4,991
On disposals
Other adjustments
At 28 February 2025 25,090 1,500 26,590
Net book value
At 28 February 2025 8,955 34 8,989
At 29 February 2024 13,914 66 13,980

IRWELL HOUSE ARTISTS' STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2025

4. Debtors

2025 2024
£ £
Trade debtors 2,192 803
Prepayments and accrued income 5,821 5,874
Total 8,013 6,677

IRWELL HOUSE ARTISTS' STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2025

5. Creditors: amounts falling due within one year note

2025 2024
£ £
Taxation and social security 2,315
Accruals and deferred income 1,529 14,036
Other creditors 2,102 3,071
Total 5,946 17,107

COMMUNITY INTEREST ANNUAL REPORT

IRWELL HOUSE ARTISTS' STUDIOS CIC

Company Number: 10640282 (England and Wales)

Year Ending: 28 February 2025

Company activities and impact

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.

Consultation with stakeholders

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.

Directors' remuneration

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.

Transfer of assets

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