FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Company limited by guarantee

Company Registration Number:
10480111 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2022

Period of accounts

Start date: 1 December 2021

End date: 30 November 2022

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Contents of the Financial Statements

for the Period Ended 30 November 2022

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Balance sheet

As at 30 November 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 2,480 394
Total fixed assets: 2,480 394
Current assets
Cash at bank and in hand: 4,643 1,810
Total current assets: 4,643 1,810
Creditors: amounts falling due within one year: 4 ( 1,605 ) ( 601 )
Net current assets (liabilities): 3,038 1,209
Total assets less current liabilities: 5,518 1,603
Total net assets (liabilities): 5,518 1,603
Members' funds
Profit and loss account: 5,518 1,603
Total members' funds: 5,518 1,603

The notes form part of these financial statements

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Balance sheet statements

For the year ending 30 November 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 28 November 2023
and signed on behalf of the board by:

Name: Matt McGuinness
Status: Director

The notes form part of these financial statements

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 November 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

    TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value addedtaxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover isreduced for estimated customer returns, rebates and other similar allowances.Sale of goodsTurnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods hastransferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. Thestage of completion of a contract is measured by comparing the costs incurred for work performed to date to the totalestimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of acontract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value,over their expected useful lives on the following bases:Plant & Machinery 20% on cost

    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 inthe statement of comprehensive income because of items of income or expense that are taxable or deductible in otheryears and items that are never taxable or deductible. The company's liability for current tax is calculated using taxrates 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 financialstatements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities aregenerally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductibletemporary differences to the extent that it is probable that taxable surplus will be available against which thosedeductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of eachreporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be availableto 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 theliability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantivelyenacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities anddeferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequencesthat would follow from the manner in which the Company expects, at the end of the reporting period, to recover orsettle 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 arerecognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is alsorecognised in other comprehensive income or directly in equity respectively.

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 3 3

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2021 2,002 2,002
Additions 2,731 2,731
Disposals
Revaluations
Transfers
At 30 November 2022 4,733 4,733
Depreciation
At 1 December 2021 1,608 1,608
Charge for year 645 645
On disposals
Other adjustments
At 30 November 2022 2,253 2,253
Net book value
At 30 November 2022 2,480 2,480
At 30 November 2021 394 394

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Creditors: amounts falling due within one year note

2022 2021
£ £
Trade creditors 602 1
Taxation and social security 343 0
Accruals and deferred income 660 600
Total 1,605 601

COMMUNITY INTEREST ANNUAL REPORT

FURTHEST FROM THE SEA MUSIC, COMEDY & ARTS CIC

Company Number: 10480111 (England and Wales)

Year Ending: 30 November 2022

Company activities and impact

Furthest from the Sea Music, Comedy & Arts CIC exists to provide benefit to the artistic community in Derby, Derbyshire and beyond, including but not limited to musicians, visual artists, dancers, poets, writers, comedians and crafts people, and extending to the general public in Derby, Derbyshire and beyond who wish to engage with and have access to a diverse range of artistic performances, events and experiences.The company’s principal activities during the reporting period have included:- Promoting and delivering a full programme of live performance as part of Leicester Comedy Festival 2022. This built on our long-standing relationship with venue partner Knight & Garter, and provided opportunities for Derby and Derbyshire comedians to perform as part of a diverse line-up of new and established acts at Europe’s largest and longest-running comedy festival. (January - February 2022)- Delivering the Furthest from the Sea Festival – a free family creative festival in Derby city centre, with associated schools’ engagement and community outreach activities in libraries and other settings. Planning and delivery of the festival was principally funded by Arts Council England, with additional project funding from NHS, Foundation Derbyshire, Derby City Council and ASDA community fund allowing us to extend our community outreach and engagement activities (January – July 2022)- Our work with Creative Art Showcase Bromsgrove (June 2022 and October 2022) saw us supporting another arts organisation to deliver both an indoor and outdoor event in their own community. Furthest from the Sea provided expertise and equipment. As an organisation we plan to build this type of activity to develop an additional source of earned income which will supplement grant-funded projects and increase our sustainability going forwards. - Providing a bespoke event as part of Feste (September 2022), offering opportunities for 8 Derbyshire artists to showcase their skills and creativity through workshops with members of the public.- Supporting the organisation and presentation of Derby Folk Weekender (Oct 2022), providing opportunities for Derby and Derbyshire artists to participate in this well-loved event, and facilitating free and low-cost access to an exciting Fringe programme for audiences.- Programming for Leicester Comedy Festival 2023 (Oct 2022). This preparatory work will allow us to deliver a full programme of live performance as part of Leicester Comedy Festival in February 2023.

Consultation with stakeholders

The company’s stakeholders are many, and include:- The local artistic/creative community- Organisations which offer support (financial and “in kind”) to our activities- Other organisations which have the potential to be impacted by our work (e.g. local businesses, the City Council etc)- The wider general public who form the audience at our eventsThe company has an ongoing and open dialogue with all of these groups of stakeholders, which offers frequent opportunities for consultation and response. The company’s advisory board includes representatives from education, local business and the creative community. During this reporting period this group of individuals has been undergoing a refresh, allowing us to bring new voices and different backgrounds into our accountability.Throughout the year consultation with artists is ongoing and open, as we develop new project ideas and deliver our regular programme of events. For established events, such as the Furthest from the Sea Festival, feedback from audiences (through questionnaires and online comments), artists and volunteers/staff (through one-to-one conversations) shape the development of the activity from one year to the next as the company seeks to improve and learn from its experiences.Partnership/funding agreements with the local authority and funding bodies also provide structured opportunities for feedback and response, both at the project proposal and the project evaluation stage.

Directors' remuneration

Directors’ remuneration for the period totalled £26186.There 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.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
28 November 2023

And signed on behalf of the board by:
Name: Eileen Wright
Status: Director