MAKE MEE STUDIO CIC

Company limited by guarantee

Company Registration Number:
13203246 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

MAKE MEE STUDIO CIC

Contents of the Financial Statements

for the Period Ended 28 February 2023

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

MAKE MEE STUDIO CIC

Directors' report period ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Principal activities of the company

The company is a Community Interest Company (CIC). As such, the CIC's activities are outlined in the Community Interest Annual Report that is included within this filing.



Directors

The directors shown below have held office during the whole of the period from
1 March 2022 to 28 February 2023

Jaime Greenly
Tracey Mee
Nigel Joseph Richard Mullan


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
21 November 2023

And signed on behalf of the board by:
Name: Tracey Mee
Status: Director

MAKE MEE STUDIO CIC

Profit And Loss Account

for the Period Ended 28 February 2023

2023 2022


£

£
Turnover: 132,710 33,527
Cost of sales: ( 4,665 ) ( 2,750 )
Gross profit(or loss): 128,045 30,777
Administrative expenses: ( 126,009 ) ( 44,291 )
Other operating income: 17,592
Operating profit(or loss): 2,036 4,078
Profit(or loss) before tax: 2,036 4,078
Tax: ( 311 )
Profit(or loss) for the financial year: 1,725 4,078

MAKE MEE STUDIO CIC

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 2,532 1,523
Total fixed assets: 2,532 1,523
Current assets
Debtors: 4 4,044 44
Cash at bank and in hand: 21,979 35,064
Total current assets: 26,023 35,108
Creditors: amounts falling due within one year: 5 ( 21,642 ) ( 32,553 )
Net current assets (liabilities): 4,381 2,555
Total assets less current liabilities: 6,913 4,078
Total net assets (liabilities): 6,913 4,078
Members' funds
Profit and loss account: 6,913 4,078
Total members' funds: 6,913 4,078

The notes form part of these financial statements

MAKE MEE STUDIO CIC

Balance sheet statements

For the year ending 28 February 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 21 November 2023
and signed on behalf of the board by:

Name: Tracey Mee
Status: Director

The notes form part of these financial statements

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.Any grant income, fundraising income or income that is not part of the ordinary business activities of the company has been recorded as Other Income, where applicable.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are depreciated over their expected useful economic life on a straight line basis, as follows:- Land and buildings - 25 years- Plant and machinery - 5 years- Fixtures and fittings - 3 years- Vehicles - 10 years- Office Equipment - 3 years

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 4

    Number for 2023 does not include directors. However, the number for 2022 included the directors.

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 0 514 0 1,620 0 2,134
Additions 0 1,849 0 1,752 0 3,601
Disposals
Revaluations
Transfers
At 28 February 2023 0 2,363 0 3,372 0 5,735
Depreciation
At 1 March 2022 0 103 0 508 0 611
Charge for year 0 1,069 0 0 0 1,069
On disposals
Other adjustments 411 1,112 1,523
At 28 February 2023 0 1,583 0 1,620 0 3,203
Net book value
At 28 February 2023 0 780 0 1,752 0 2,532
At 28 February 2022 0 411 0 1,112 0 1,523

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Debtors

2023 2022
£ £
Trade debtors 1,829 44
Other debtors 2,215
Total 4,044 44

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 248
Taxation and social security 311 657
Accruals and deferred income 7,981 500
Other creditors 13,102 31,396
Total 21,642 32,553

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

COMMUNITY INTEREST ANNUAL REPORT

MAKE MEE STUDIO CIC

Company Number: 13203246 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

The company runs sewing and creative classes in the London Borough of Lewisham. The primary aim of Make Mee Studio CIC is to make sewing and creativity as accessible, inclusive, and as environmentally and socially beneficial as possible.At Make Mee Studio CIC, we ran a number of projects and worked on initiatives that have benefited the community in the financial year ending 28 February 2023. (1) The CIC continued working on its Art’s Council England funded project (‘The Social Fabric’), coinciding with Lewisham being the London Borough of Culture 2022. (1a) This project was made by and for the people of Lewisham, documenting the thoughts and feelings of what it means to be a Lewisham resident in 2022. (1b) The project was worked on by more than 40 local residents over a 9 month period. In line with this, the CIC ran 6 x 15 hour free courses, teaching a range of textiles skills. (1c) The artwork produced unlocked local voices who speak on the community, environment and culture. (1e) The courses culminated in an exhibition that was held in September 2022 at a local community cafe, where all the creators could meet each other. (2) The CIC used a proportion of the Arts Council Grant to offer subsidised or free places for members of the local community who could not afford the full £10 cost on our weekly ‘Sewcial’ sessions, where people could come and use our studio and equipment to work on their own sewing projects and meet other like-minded creators. (3) From April to July 2022, the CIC took over a disused shop in Lewisham Shopping Centre to create a free drop clothing repair station. Anyone could come in and learn how to mend their items. We helped mend over 200 items of clothing during the 12 week period. We also ran a series of children's workshops, a clothes swap diverting clothes from landfill and a sustainable makers market. This was funded by two grants from Lewisham Council totalling £4949. (4) The CIC delivered weekly workshops for the local Youth Centre (‘Youth First’) as part of their Young Londoners Funded Carnival Project. This produced over 40 creative sewing and textiles workshops. (5) The CIC worked with local council housing provider (‘Lewisham Homes') on 3 drop-in mending workshops for their residents. (6) The CIC provided 4 work experience placements for local school students.(7) Where possible, the CIC sourced materials for our workshops from local and sustainable sources, purchasing end of roll and remnant fabrics and receiving donations of materials.

Consultation with stakeholders

The company’s stakeholders are the participants that attend our classes and courses. The CIC always use feedback and evaluations from our previous funded projects to inform future ideas. For example, feedback we received from our Arts Council funded project (‘The Social Fabric’) was that some found it stressful that their work was going to be exhibited.In response to this feedback, the CIC decided that the focus for the next funding bid should be to create a more flexible course structure, where the outcomes would not necessarily be exhibited, but each maker will follow their own self-directed course. We have successfully gained a grant from L&Q Foundation for a project like this starting in September 2023. We are also beginning this project with a series of drop-in information sessions. We will be using these to promote the free course we are offering, but also to gather information about what people would like to learn on the full course and use that to develop course structure. The CIC also has strong links with support organisations in the area. For example, we have worked with social prescribing networks such as ‘Community Connections’ and ‘Lewisham Migrant and Refugee Network’ to develop projects with the needs of the specific target audience. We take their advice on board for creating a safe and welcoming space for their service users to be able to attend. Additionally, the CIC regularly asks for feedback from our students on all of our courses and test new ideas with focus groups.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by directors in respect of qualifying services was £52,976.There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which are required 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
21 November 2023

And signed on behalf of the board by:
Name: Tracey Mee
Status: Director