MM COLLECTIVE CIC

Company Registration Number:
13059490 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2022

Period of accounts

Start date: 1 January 2022

End date: 31 December 2022

MM COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 December 2022

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

MM COLLECTIVE CIC

Directors' report period ended 31 December 2022

The directors present their report with the financial statements of the company for the period ended 31 December 2022

Principal activities of the company

The principal activity of the company is that of a mentoring scheme aiming to redress the balance of equality and opportunity within the creative industries.



Directors

The director shown below has held office during the whole of the period from
1 January 2022 to 31 December 2022

Laura Edwards


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
29 September 2023

And signed on behalf of the board by:
Name: Laura Edwards
Status: Director

MM COLLECTIVE CIC

Balance sheet

As at 31 December 2022

Notes 2022 13 months to 31 December 2021


£

£
Called up share capital not paid: 100 100
Fixed assets
Tangible assets: 3 1,749 0
Total fixed assets: 1,749 0
Current assets
Cash at bank and in hand: 53,336 25,236
Total current assets: 53,336 25,236
Creditors: amounts falling due within one year: 4 ( 18,950 ) ( 5,555 )
Net current assets (liabilities): 34,386 19,681
Total assets less current liabilities: 36,235 19,781
Total net assets (liabilities): 36,235 19,781
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 36,135 19,681
Total Shareholders' funds: 36,235 19,781

The notes form part of these financial statements

MM COLLECTIVE CIC

Balance sheet statements

For the year ending 31 December 2022 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 29 September 2023
and signed on behalf of the board by:

Name: Laura Edwards
Status: Director

The notes form part of these financial statements

MM COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 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

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on a 20% reducing balance basis.

MM COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

  • 2. Employees

    2022 13 months to 31 December 2021
    Average number of employees during the period 1 1

MM COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2022 0 0
Additions 2,099 2,099
Disposals
Revaluations
Transfers
At 31 December 2022 2,099 2,099
Depreciation
At 1 January 2022 0 0
Charge for year 350 350
On disposals
Other adjustments
At 31 December 2022 350 350
Net book value
At 31 December 2022 1,749 1,749
At 31 December 2021 0 0

MM COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 December 2022

4. Creditors: amounts falling due within one year note

2022 13 months to 31 December 2021
£ £
Taxation and social security 3,421 4,617
Other creditors 15,529 938
Total 18,950 5,555

COMMUNITY INTEREST ANNUAL REPORT

MM COLLECTIVE CIC

Company Number: 13059490 (England and Wales)

Year Ending: 31 December 2022

Company activities and impact

MENTORING MATTERS is a global mentoring scheme and community interest company that aims to redress the balance of equality and opportunity within the Creative industries. Created for candidates from Black, Asian and Minority Ethnic backgrounds looking for a career in the Arts, the aim is to give insight, advice, direction and inspiration along with practical transferable skills and a support system for our candidates. Community is at the heart of everything we do and so we created MM Alumni, our long-term commitment to provide help to our candidates for as long as we can. The purpose is to encourage global meet ups, valuable discussion and peer advice and collaboration to create a network that will grow together as they move forwards towards their goals. MM is a growing community that currently has 233 MM Alumni across 19 countries with the majority of our candidates in the UK. We work in a variety of ways with our Alumni including:- One on one mentoring for a period of 6 months with industry leaders.- Workshops to help develop skills and create an open forum for questions, - Benefits including access to industry events such as fashion shows, panel talks and art openings- Providing advice and support. - Job Opportunites. Working with businesses and individuals MM has, to date, provided 25% of candidates with paid opportunities within their chosen fields.- Leading talks to create a safe and supportive space for dialogue between candidates- creating a network with industry leaders and peers that encourage opportunities, inspiration and collaboration and a soundboard with Mentors and peersWe are cross generational multi disciplinary community for growth and the feedback has been resoundingly positive with our candidates finding the process valuable, uplifting and at times integral to getting their start in the creative industries.Mentoring Matters has been nominated for 3 British fashion council awards for our commitment to change.

Consultation with stakeholders

Our stakeholders consist of our Mentees (alumni) the Mentors (industry leaders) Sponsors, Businesses and Individuals that work with us to find paid opportunities for our mentees and our advisory panel. We are in close contact with all of our stakeholders to try and ensure the smooth running of the businesses. We send out feedback forms to our mentees to gain an understanding of experiences and improvements that could be made as we work to constantly evolve our processes to give our Mentees the maximum support. We ask for updates from Mentors to understand how they have found the experience and any challenges that they have faced and also pick up any tips for future Mentors to give them extra tools. We work closely with our sponsors to ensure that they understand our goals and give as much transparency as possible and together we plan as many ways to broaden the experience for our Mentees as possible. We hold face to face discussions with anyone who wishes to have involvement in the scheme so that we can try and ensure everyone is well matched and shares our same intentions to uplift and diversify our industry, we have contracts with businesses who wish to work with our candidates that outline best working practices and ensure a non prejudicial and supportive environment. If at any point we receive feedback around anything that needs to be addressed we take it up immediately with whoever is concerned and resolve as quickly as possible. Our advisory panel consists of individuals well placed within the industry to give advice and perspective on all important decisions. We are in regular contact.

Directors' remuneration

Director's Remuneration was £6,825 during the year.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 September 2023

And signed on behalf of the board by:
Name: Laura Edwards
Status: Director