HADDSTOCK C.I.C.

Company limited by guarantee

Company Registration Number:
SC593490 (Scotland)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

HADDSTOCK C.I.C.

Contents of the Financial Statements

for the Period Ended 30 April 2023

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

HADDSTOCK C.I.C.

Directors' report period ended 30 April 2023

The directors present their report with the financial statements of the company for the period ended 30 April 2023

Directors

The directors shown below have held office during the whole of the period from
1 May 2022 to 30 April 2023

Rebecca Dover
Helen Wyllie
Simon Walker


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
19 October 2023

And signed on behalf of the board by:
Name: Rebecca Dover
Status: Director

HADDSTOCK C.I.C.

Profit And Loss Account

for the Period Ended 30 April 2023

2023 2022


£

£
Turnover: 11,278 3,085
Cost of sales: ( 11,407 ) ( 2,481 )
Gross profit(or loss): (129) 604
Distribution costs: ( 35 )
Administrative expenses: ( 1,383 ) ( 569 )
Operating profit(or loss): (1,512) 0
Profit(or loss) before tax: (1,512) 0
Tax: 284
Profit(or loss) for the financial year: (1,228) 0

HADDSTOCK C.I.C.

Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 689 272
Cash at bank and in hand: 11,687 8,022
Total current assets: 12,376 8,294
Net current assets (liabilities): 12,376 8,294
Total assets less current liabilities: 12,376 8,294
Accruals and deferred income: ( 13,940 ) ( 8,630 )
Total net assets (liabilities): (1,564) (336)
Members' funds
Profit and loss account: (1,564) ( 336)
Total members' funds: ( 1,564) (336)

The notes form part of these financial statements

HADDSTOCK C.I.C.

Balance sheet statements

For the year ending 30 April 2023 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 19 October 2023
and signed on behalf of the board by:

Name: Rebecca Dover
Status: Director

The notes form part of these financial statements

HADDSTOCK C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 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 measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services, including income from sponsorships and grant subsidies.

    Other accounting policies

    TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

HADDSTOCK C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

HADDSTOCK C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Debtors

2023 2022
£ £
Prepayments and accrued income 311 198
Other debtors 378 74
Total 689 272

HADDSTOCK C.I.C.

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Loans to directors

Name of director receiving advance or credit: Rebecca Dover
Description of the transaction:
The loan is unsecured, interest free and repayable on demand.
£
Balance at 30 April 2022
Advances or credits made: 20
Advances or credits repaid:
Balance at 30 April 2023 20

COMMUNITY INTEREST ANNUAL REPORT

HADDSTOCK C.I.C.

Company Number: SC593490 (Scotland)

Year Ending: 30 April 2023

Company activities and impact

The company runs an annual arts and music festival in Haddington, East Lothian where live music, arts events and workshops take place throughout Haddington’s cafes, bars and venues. Bands, local musicians and performance groups of various genres and experience levels play in a community, family friendly environment. - The local community integrates to celebrate local artists and musicians - The festival is inclusive of all in the community as most events have free entry - The festival brings visitors from East Lothian and beyond to Haddington - Venues, shops and businesses benefit from the atmosphere and footfall (many pub’s takings up 100% on a normal Saturday) - Young musicians and local performers benefit from the experience which can build confidence and raise aspirations. We work with Knox Academy in the lead in to the main festival. - Interactive workshops and environmental themes help to inspire and improve skill sets - Local arts facilitators and businesses can showcase their activities through taster sessions and workshopsThe festival took place on the weekend of 28-29th May 2022 and was very well received with over 4,000 attendees and all funding spent in accordance with original funding applications.In September 2022, the directors started event planning and sourcing financial support from funders and sponsors.Once adequate support was confirmed in Feb 2023 for the festival to be viable, pre-production and in-school projects took place throughout the Spring. The festival took place on the weekend of 27th-28th May 2023 and was very well received, again with over 4,000 attendees and all funding spent in accordance with original funding applications.East Lothian Council Arts Service funded the Haddstock Knox Music Project in school from Jan-May 2022 and 2023 to encourage arts participation and to learn songwriting, samba drumming, filming and performance skills. ELC Arts Service also funded and partnered with Haddstock to produce a regional Battle of the Bands for East Lothian high school pupils with skills development prizes for all 12 bands and constructive feedback from industry professionals.Rotary funded music equipment removal costs for Knox Academy orchestra and ensembles to perform at St Mary’s Church which provided valuable experiences for young people.Haddington and Lammermuir Area Partnership funded Edinburgh College HND Student Sound Engineers to run live sound at the festival, providing essential skills development for working in the music industry.Haddstock provided 10+ volunteer experiences for Knox Academy students via the Music and Business Departments and performance experiences for 20+ school aged musicians to perform independently of the aforementioned arranged school concerts. Haddstock is gaining a reputation as a valuable event for young people to gain experience in many areas of the arts and we are planning to develop these links with ELC schools, East Lothian Works and ELC Connected Communities in 2024.

Consultation with stakeholders

The Directors are authorised to use grant money to fund the ongoing expenditure of running Haddington C.I.C. The main expenditure includes website and IT costs as well as accountancy fees. The funding income received is matched as follows:- Any funding received that is specific for an event is matched to that event- General non targeted funding is used to cover the ongoing expenditure of running the Haddington C.I.C- General funding received during the Company year is held back as deferred income to ensure that the costs of the May festival that occurs after the Company’s 30 April year end are adequately covered. The deferred funding is then released as income against the costs of the May Festival.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
19 October 2023

And signed on behalf of the board by:
Name: Rebecca Dover
Status: Director