for the Period Ended 28 February 2023
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 2023
Directors
The directors shown below have held office during the whole of the period from
1 March 2022 to 28 February 2023
Secretary
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: Secretary
for the Period Ended
2023 | 2022 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | ( |
Distribution costs: | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | ( | ( |
Interest receivable and similar income: | | |
Interest payable and similar charges: | | |
Profit(or loss) before tax: | ( | ( |
Tax: | | |
Profit(or loss) for the financial year: | ( | ( |
As at
Notes | 2023 | 2022 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Intangible assets: | | | |
Tangible assets: | | | |
Investments: | | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | | | |
Debtors: | | | |
Cash at bank and in hand: | | | |
Investments: | | | |
Total current assets: | | | |
Prepayments and accrued income: | | | |
Creditors: amounts falling due within one year: | 3 | | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | | | |
Provision for liabilities: | | | |
Accruals and deferred income: | | | |
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 28 February 2023
Basis of measurement and preparation
Turnover policy
for the Period Ended 28 February 2023
2023 | 2022 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 28 February 2023
2023 | 2022 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
FULL ACCOUNTSPART 1IN THIS YEAR OUR CREATIVE WORK EXPANDED, WITH MORE WORK BEING CREATED, AND A BIGGER NETWORK OF CREATIVES BEING DEVELOPED WITHIN AND AROUND OUR ORGNAISTION.IN THIS YEAR COMPASS DEVELOPED A SHOW THAT HAD ALREADY RECEIVED SOME FUNDING, AND HAD BEEN DEVELOPED WITH SOME COVID EMERGENCY FUNDING (‘Monty Python and the FOLEY Grail’). WE STARTED THE YEAR BY TAKING THIS TO THE WARDROBE THEATRE. WE WORKED WITH AN ORGANISATION CALLED BABBASA WHO WORK WITH YOUNG PEOPLE OF COLOUR IN INNER CITY BRISTOL, TO PROVIDE THEM WITH THEIR FIRST OPPORTUNITIES WITHIN THE CREATIVE INDUSTRIES. WE WORKED WITH TWO YOUNG PEOPLE AS TRAINEE TECHNICIANS ON THE SHOW, PROVIDING THEM WITH THEIR FIRST PAID WORK WITHIN THE CREATIVE INDUSTRIES, EXPOSING THEM TO NEW FILM CULTURE WHICH, IN TURN, THEIR PEER GROUPS WERE EXPOSED TO. ONE OF THESE YOUNG PEOPLE CONTINUES TO WORK IN A FREELANCE, AD HOC CAPACITY WITH COMPASS ON A COUPLE OF OTHER PROJECTS BROADENING HER EXPERIENCE OF JOBS WITHIN THE CREATIVE INDUSTRIES.WE RECEIVED FANTASTIC FEEDBACK FROM BABBASA AND THE YOUNG PEOPLE THEMSELVES OF THE VALUE OF THIS EXPERIENCE AND THE PART IT PLAYED IN THE RI CREATIVE AND PROFESSIONAL DEVELOPMENT.OFF THE BACK OF THE SUCCESS OF THE WARDROBE THEATRE RUN WE WERE BOOKED FOR THE SAME SHOW AT CATHEDRAL QUARTER ARTS FESTIVAL IN BELFAST. THIS HAS REPRESENTED THE FIRST MODELLING OF THE DEVELOPMENT OF A SHOW FROM A FUNDED ENTERPRISE TO A FEE-GENERATING OFFERING, SOMETHING WE EXPECT WILL HAVE A FUTURE BEYOND THIS YEAR. THE CQAF GIG ALSO DEVELOPED OUR COMMUNITY NETWORK INTO A NEW GEOGRAPHICAL LOCATION AND CULTURAL CONTEXT, IN WHICH WE FORMED RELATIONSHIPS THAT WE KNOW WILL SUSTAIN WITH FUTURE WORK AND CONNECTIONSEARLY IN THE YEAR ALSO CREATED A PROJECT CALLED REMIXING THE ARCHIVES, AN INSTALLATION OF ARCHIVE FILM IN A SHOP WINDOW IN A UNDERSERVED PART OF TOWN. THE INSTALLATION OVER 4 DAYS CULMINATED IN A LIVE VJ SHOW OF ARCHIVE MATERIAL. THIS EXPANDED THE COMPANY'S WORK WITH ARCHIVE FILM, A GROWING SPECIALISM, AND REACHED VERY LARGE NUMBERS OF PEOPLE DUE TO THE SHOP WINDOW PLATFORM. IT ALSO GAVE US ACCESS TO NEW LGBTQ AUDIENCES, THIS BEING IN THE HEART OF BRISTOL’S ‘GAY VILLAGE’, EXPANDING OUR COMMUNITY OF AUDIENCES AND FUTURE COLLABORATORS.COMPASS DIRECTORS ENGAGED IN CPD THROUGH ATTENDANCE OF SHAMBALA’S AREA MANAGER’S WEEKEND IN WHICH WE DID TRAINING ON RADICAL INCLUSIVITY AND DIVERSITY THAT WAS ABLE TO FILTER DOWN INTO OUR OWN PRACTISE, AND BENEFIT OUR STAFF, TEAM AND OUR OWN COMMUNITIES OF AUDIENCE AND CREATIVES.OUT OF A PROJECT DELIVERED IN THE PREVIOUS FINANCIAL YEAR COMPASS LEAD DIRECTOR WAS INVITED TO COMPLETED A PIECE OF RESEARCH INTO DIVERSITY WITHIN THE BOX’S ARCHIVE COLLECTION. THIS IS A DEVELOPING SPECIALISM THAT POSITION THE COMPANY WELL IN TERMS OF SECTOR LEADERS IN DIVERSITY AND INCLUSION WITHIN THE ARCHIVE FILM SECTOR. THE PROJECT ENABLED US AS A COMPANY TO REACH NEW COMMUNITIES IN THE PLYMOUTH REGION (WHERE THE ARCHIVE IS BASED). THESE WERE COMMUNITIES UNDERREPRESENTED IN THE ARCHIVE, AND MOST NEED TO COMPASS' WORK. THIS WAS AN OPPORTUNITY TO BRING NEW PEOPLE INTO OUR CREATIVE COMMUNITY, AND TO ENGAGE WITH A PIECE OF WORK THAT WILL HAVE AN IMPACT ON THE PEOPLE THAT ULTIMATELY SEE THEMSELVES REPRESENTED IN ARCHIVE FILM, AND ENGAGE WITH IT, VIA THE RECOMMENDATIONS WE MADE.THE SUMMER AGAIN SAW OUR ANNUAL TENT AND AREA AT SHAMBALA FESTIVAL. THIS IS AN ANNUAL WAY OF EXTENDING OUR CREATIVE COMMUNITY. ARTISTS WANT TO COME TO THE FESTIVAL, SO IT PUTS US IN A POSITION WHERE WE COME INTO CONTACT WITH A HUGE RANGE OF CREATIVES, THROUGH APPLICATIONS TO THE FESTIVAL, AS WELL AS THE FINAL ARTIST WHO COME TO PERFORM. THIS ENRICHES OUR WORK YEAR ROUND, AND GIVES US A NATIONAL INTAKE OF NEW COMMUNITY MEMBERS, BOTH AS CREATIVES AND AUDIENCES VIA THE FESTIVALS PUNTERS.WE ALSO RAN OUR TELECONFUSIONS INTERACTIVE INSTALLATION AT BALTER, LOVE SAVES THE DAY AND GLASTONBURY FESTIVALS IN THE UK, AND EXPANDED THIS TO MAGNETIC FIELDS FESTIVAL IN RAJASTHAN FOR THE FIRST TIME, ESTABLISHING A NEW INTERNATIONAL PLATFORM TO ENRICH THE CONVERSATION WITH OUR CORE COMMUNITY. SHAMBALA, GLASTONBURY AND MAGNET FIELDS ALSO BENEFIT THE COMPANY BY ENRICHING AND WIDENING THE TYPES OF PEOPLE WITHIN OUR CREATIVE NETWORK, AND ENSURE WE CONTINUE TO ENGAGE WITH A WIDE VARIETY OF ARTISTIC DISCIPLINES.WE RE-STAGED AN EARLIER WORK, THE CALIGARI EXPERIENCE, FOR THREE PALACES FESTIVAL IN MALTA, AGAIN WIDENING OUR CREATIVE COMMUNITY AND GIVING OUR WORK A PLATFORM INTERNATIONALLY, AND OUR CORE COMMUNITY A NEW COUNTERPART IN MALTESE AUDIENCES AND CREATIVES, THROUGH THIS NEW CONNECTION.WE CONTINUED WORK WITH THE BOX, PRODUCING A NEW ARCHIVE SHORT FOR DISTRIBUTION IN CINEMAS, CONSOLIDATING OUR COMMUNITY OF FILM AUDIENCES AND INTERESTS.WITHIN THIS YEAR COMPASS TALKED AT CONFERENCES AND INDUSTRY MEETINGS, AGAIN WIDENING OUR COMMUNITY THROUGH THESE NEW NETWORKS.OVER THE WINTER WE RECRUITED KEY NEW TEAM MEMBERS, PRODUCERS WITH LIVED EXPERIENCE OF DIFFERENT, UNDERSERVED COMMUNITIES WITHIN BRISTOL (E.G. LGBTQ, AFRICAN DIASPORA, NEURODIVERGENT). WE ALSO RECRUITED A NEW, YOUNG SOCIAL MEDIA EXPERT WHO HAS SIGNIFICANTLY INCREASED OUR REACH ONLINE, ESPECIALLY WITH YOUNG AUDIENCES VIA TIKTOK.TOWARDS THE VERY END OF THE ACCOUNTING YEAR COMPASS SECURED SEVERAL PROJECT GRANTS, SETTING UP A YEAR OF MUCH INCREASED ACTIVITY AND VISIBILITY WITHIN FOR THE NEXT ACCOUNTING YEAR.
PART 2COMPASS CIC’S STAKEHOLDERS INCLUDE OUR AUDIENCE; THE LOCAL COMMUNITY, THE ARTISTS AND PERFORMERS CONTRIBUTING TO OUR EVENTS, LOCAL CREATIVES THAT SUPPORT IN AN R&D OR CONSULTANCY ROLE VIA THE PM STUDIO, LOCAL BUSINESSES PROVIDING SERVICES OR ADVERTISING, LOCAL AND NATIONAL INSTITUTIONS (E.G. UNIVERSITY OF LEEDS; EXETER; THE WEST OF ENGLAND; BRISTOL, AND BATH; PLYMOUTH ARTS COLLEGE, CITY OF BRISTOL COLLEGE) WITH WHOM WE HAVE ACADEMIC EXCHANGE AND SOURCE VOLUNTEERS AND INTERNS FROM, AND FOR WHOM WE PROVIDE MENTORSHIP;ALSO FUNDING BODIES PROVIDING SPONSORSHIP WHO DISSEMINATE OUR WORK AND EVALUATIONS INTO THE WIDER ARTISTIC/ CULTURAL COMMUNITY, CULTURAL/ ARTS ORGANISATIONS THAT DONATE IN-KIND GOODS, SERVICES OR EXPERTISE , THE COMPANY’S CORE TEAM, WIDER NETWORKS AND VOLUNTEER BASE. THE PERVASIVE MEDIA STUDIO COMMUNITY, OF WHICH WE ARE PART, AND AFFILIATED CREATIVE AND TECHNOLOGICAL NETWORKS THAT SPRING FROM THIS COMMUNITY ARE AN IMPORTANT PART OF THE CULTURAL ECOLOGY OF COMMUNITIES IN WHICH WE OPERATE. WE BENEFIT GREATLY FROM THE HIGH LEVEL OF DISCOURSE AVAILABLE THROUGH CONTACT WITH THESE NETWORKSPEER AND FOCUS GROUP CONSULTATION IS THE MAIN METHOD OF CONSULTING WITH KEY STAKEHOLDERS. WE ADDITIONALLY CONSULT WITH KEY ORGS AND PROFESSIONALS THAT HAVE EXPERIENCE OR EXPERTISE IN SPECIFIC ASPECTS OF OUR ARTISTIC R ORGANISATIONAL DELIVERY AS PART OF OUR R&D PROCESSES; ARTIST/ ACADEMIC CONTRIBUTORS ARE OFTEN APPROACHED INDIVIDUALLY FOR CONSULTATION/ FEEDBACK. WE ALSO VIEW OUR SOCIAL MEDIA PLATFORMS AS CONSULTATIVE TOOLS. WE ALSO HAVE A DEDICATED E-COMMUNICATOR WHOS TRACKS FEEDBACK ON DIGITAL PLATFORMS TO GARNER INFORMATION AND MAINTAIN EXCELLENCE, AND CHECK WE ARE ACHIVEING OUR INTERNAL GOALS AND THOSE SET BY OUR FUNDERS. PARTNERSHIP WITH YOUTH TRAINING CHARITY, AND COMMUNITY GROUPS VIA LOCAL AUTHORITY COMMUNITY EDUCATION, ARE BOTH RICH SOURCES OF DIVERSE FOCUS GROUPS MEMBERS AND OPPORTUNITIES FOR COMMUNITY ENGAGEMENT. SUCH DIVERSE INPUT INTO OUR EVENTS AND PROCESSES ENSURES OUR OUTPUT REMAINS RELEVANT AND ACCESSIBLE.INCREASED ACTIVITY ENABLES US TO CONTINUE A PREVIOUSLY SUCCESSFUL SCHEME IN WHICH WE RECRUITED AND WORKED WITH PRODUCERS FROM DIVERSE COMMUNITIES, INCLUDING UNDERSERVED NEIGHBOURHOODS IN BRISTOL, THE LGBTQ COMMUNITY AND OTHER COMMUNITIES WITH PROTECTED CHARACTERISTICS. DEPENDING ON THE PROJECT, AND TARGETED AUDIENCE DEVELOPMENT PRIORITY, A PRODUCER WOULD BE APPOINTED TO MEET THIS NEED AND REPRESENT THIS PRIORITY AUDIENCE THROUGH THEIR LIVED-EXPERIENCE AND COMMUNITY KNOWLEDGE.NEW WORK IN INDIA AND MALTA, AND MORE IN DEPTH WORK WITH COMMUNITIES IN OUR HOME TOWN OF BRISTOL, BROUGHT US INTO CONTACT WITH NEW PROFESSIONALS AND CREATIVES, AND NEW AUDIENCES , BOTH GEOGRAPHICALLY AND DEMOGRAPHICALLY, WIDENING AND ENRICHING OUR COMMUNITY.THE OPINIONS AND INPUT OF COMMUNITY AND PARTNER ORGS ARE PART OF THE BACKBONE OF THE COMPANY’S ETHOS AND PRACTICAL PROCEDURE, AND WE TRY TO IMPLEMENT OR INCORPORATE IDEAS FROM THESE SOURCES AT APPROPRIATE JUNCTURES, WHERE THEY CAN HAVE BEST IMPACT. CRUCIALLY, NEW STRONG PARTNERSHIPS AND A GROWTH IN OUR COMMUNITIES HAVE BEEN ESTABLISHED IN THIS YEAR, AND ARE EXPECTED TO INCREASE AGAIN NEXT BASED ON FUNDING IN PLACE.LEAD DIRECTOR TARA SACHDEVA ALSO EXTENDED HER OWN CREATIVE PRACTISE, BRINGING EXPERTISE AROUND EQUALITY DIVERSITY AND INCLUSION TO LEADERS OF ARCHIVES, SECURING FUNDING TO DEVELOP THIS SPECIALISM AND MEET UNDERREPRESENTED COMMUNITIES REGIONALLY AND NATIONALLY.
PART 3ANY REMUNERATION RECEIVED WAS FOR WORK SPECIFICALLY DEDICATED TO THE ARTISTIC AND COMMUNITY PRIORITIES OF COMPASS FILM CIC, AS LAID OUT IN OUR COMPANY MEMORANDUM AND ARTICLES OF ASSOCIATION, AND AS OUTLINED IN OUR CIC COMMUNITY PLEDGE. REMUNERATION FOR WORK DONE BY THE MANAGEMENT COMMITTEE IS COMPLIMENTED BY IN-KIND DONATIONS OF TIME. DUTIES ASSOCIATED WITH THE COMPANY DIRECTORSHIPS WERE PERFORMED VOLUNTARILY.OTHER MONEY PAID TO DIRECTORS OR ANY OTHER COMPANY STAFF WAS REIMBURSAL OF EXPENSES PAID OUT BY STAFF ON BEHALF OF THE COMPANY AS A CASH FLOW MECHANISM, AND IS CLEARLY ACCOUNTED.ANY PROFITS ARISING OUT OF THIS YEAR’S ACTIVITY HAVE BEEN PLOUGHED BACK INTO THE COMPANY ACTIVITY AND DEVELOPMENT. WE HAVE BEEN ABLE TO MAINTAIN RENT AT THE SAME LEVEL AND GROW OUR NETWORK OF PAID ARTISTS ON SPECIFIC EVENTS, HELPING TO CREATE VALUE AND WORK WITHIN THE CREATIVE SECTOR.WE ARE NOW ABLE TO PAY A GREATER DIVERSITY OF STAFF FOR TIME TO CONTINUE TO GROW THE COMPANY. THIS FINANCIAL YEAR SAW A CONTINUATION OF OUR STABLE OPERATING CAPACITY.DESPITE THE CHANGE TO LAST YEAR, WHERE WE RECEIVED THE STABILITY OF CORE FUNDING (GIVEN AS A COVID EMERGENCY GRANT) OUR INCOME AND OUTPUT GREW, AND IS EXPECTED TO DO SO AGAIN IN THE FOLLOWING YEAR.COMPASS REMAINS A SOLVENT, WELL-RUN COMPANY, WELL-GOVERNED COMPANY
No transfer of assets other than for full consideration
This report was approved by the board of directors on
17 November 2023
And signed on behalf of the board by:
Name: Tara Sachdeva
Status: Director