for the Period Ended 31 January 2023
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2023 | 13 months to 31 January 2022 | |
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| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Distribution costs: | ( | ( |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | ( | ( |
Profit(or loss) before tax: | ( | ( |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2023 | 13 months to 31 January 2022 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 4 | | |
Debtors: | 5 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 6 | ( | ( |
Net current assets (liabilities): | ( | ( | |
Total assets less current liabilities: | ( | ( | |
Total net assets (liabilities): | ( | ( | |
Members' funds | |||
Profit and loss account: | ( | ( | |
Total members' funds: | ( | ( |
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 31 January 2023
Basis of measurement and preparation
Turnover policy
for the Period Ended 31 January 2023
2023 | 13 months to 31 January 2022 | |
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Average number of employees during the period | | |
for the Period Ended 31 January 2023
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 February 2022 | | | | | ||
Additions | | | | |||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 January 2023 | | | | | ||
Depreciation | ||||||
At 1 February 2022 | | | | | ||
Charge for year | | | | | ||
On disposals | ||||||
Other adjustments | ||||||
At 31 January 2023 | | | | | ||
Net book value | ||||||
At 31 January 2023 | | | | | ||
At 31 January 2022 | | | | |
for the Period Ended 31 January 2023
2023 | 13 months to 31 January 2022 | |
---|---|---|
£ | £ | |
Stocks | | |
Total | | |
for the Period Ended 31 January 2023
2023 | 13 months to 31 January 2022 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Other debtors | | |
Total | | |
for the Period Ended 31 January 2023
2023 | 13 months to 31 January 2022 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Taxation and social security | | |
Other creditors | | |
Total | | |
Cloak Room CIC began operation in January 2021. This is the second annual report completed.Cloak Room CIC was formed to recognise the not-for-profit work which exists at the venue titled “The Cloak and Dagger”, an independent grassroots facility offering a space open for community use.As part of The Cloak and Dagger’s COVID versatility and adaptation strategy we understood in order to overcome the financial impact of the lockdowns we needed to increase avenues of funding and receive additional support to achieve our mission statement.ACTIVITIES:This year we hosted 405 events within our venue:46 x Open Mic Nights, 14 x therapy groups, 46 x Life Drawing, 61 x Live Music Events, 36 x comedy shows, 39 x Club nights, 58 x Private Parties/Community Groups, 12 x DJ Workshops, 18 x Magic Shows, 10 x Theatre shows, 5 x Burlesque shows, 18 x Training workshops, 5 x spoken word events, 5 x Games Nights, 25 x Queer events, 3 x Jams, 3 x Craft Markets and 1 x Street Party (where over 400 people attended).Launch of our new record shop- We closed the kitchen and converted it into a record shop and sound equipment repair studio. The benefits have meant we have more musicians entering the venue and has increased our retail presence on the high street.First ever show! We were a platform for performers to try new material, the majority of our events included in last year’s program were of new unestablished artists. Some artists now are signed and we are officially recognised by MVT and IVW as a grassroots venue.Employment and training: Over 50% of our workforce were under the age of 24. We aim to be recognised as a business which values event and hospitality staff, providing valuable training to enhance their careers within this sector. We also provided additional training for other local businesses. The skills gained have helped our staff have increased confidence and boost employment opportunities. We were grantedfunds by MVT to train the staff in SIA, licensing, and fire marshall training.Improve our Facilities: This year we invested into more soundproofing of the venue. We were granted funds by MVT to purchase additional sound equipment.Increase Inclusivity: We recognised that although we are in one of the busiest nightlife areas of the city, there was very little of the following available:Mixed gender line-upsLGBTQ+ community eventsNew Parent eventsWe are proud to demonstrate a venue that provides all of the above.Pay What You Can- We offer at least one free entry event a week and all internal events have a low income or pay what you can option. A large proportion of our local community are considered to have low incomes. We want our venue to be affordable and accessible to as many people as possible.
Our main stakeholders are the following:Performers/creativesLocal Community (Ashley Ward)Citywide wardsFrom the data collected from the survey, ticket platforms and social media, we understand the majority of our service users are:Within the ages 19-26Have an interest in creative activitiesBelieve venues are important to local communitiesTravel using local transport/walkingBelieve our venue has a positive impact to their mental healthOn low incomesThreat of Closure:Our Director Sebastian Merry resigned this year without notice, which had a negative impact to the viability of the venue. Our cafe and restaurant ceased trading immediately. Jenna Graves decided to reopen the kitchen with pop-ups however due to gas prices increasing we couldnt justify the kitchen remaining viable. After consultation with members we made thedecision to remove the kitchen altogether and turn the space into a record shop. The integration of the shop has had a positive impact on finances as well as bringing more grassroots fans to the venue, increasing our events.Unfortunately this year we were forced to close for 2 months by the council due to one resident making sound complaints. We considered closing the venue altogether but were surprised by local campaigns to keep us running. We had an increase of voluntary assistance and feedback for us to stay open.Members:We work alongside our current member groups: United Models Life Drawing CIC, Education Sessions, Void Radio, Digestive Chamber, Collector Cave UK, Debauched Tales and Aftermirth to name a few.Members are provided with use of our facilities for free or at a reduced not-for-profit rate to assist us with providing events and training which fulfil our community obligations.Consultations with these groups are on a one to one basis and occur when required.
Jenna Graves and Sebastian Merry were the original Directors of Cloak Room CIC.Jenna Graves is appointed to do finance management, event management and project management for the CIC Sebastian assists with events, facilities and health and safety.Both directors are employed by Cloak Room CIC and must commit to 40 hours a week work solely for the benefit of Cloak Room CIC. The wage agreed for 2021/22 was £15 per hour.Jenna Graves: Total pay for 2022-2023 was £11608.42 (continued to work without pay due to financial difficulties of the CIC)Sebastian Merry (resigned 28/06/22): Total pay for 2022-2023 was £8450.14Additional Directors were appointed:Harry Phillips (resigned 10/12/22) employed as an event manager £1093.50Owen Edwards (resigned 25/12/22) employed as assistant manager £9823.50Alex Reidy (resigned 21/06/22) employed as bar manager £6417.29 Amber Hennessey employed as event manager and community outreach worker £12910.74There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed. We have not had any requests to review remuneration from our stakeholders.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
9 October 2023
And signed on behalf of the board by:
Name: Jenna Rebecca Graves
Status: Director