CREATIVE HERITAGE STUDIOS CIC

Company limited by guarantee

Company Registration Number:
12603546 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2023

Period of accounts

Start date: 1 June 2022

End date: 31 May 2023

CREATIVE HERITAGE STUDIOS CIC

Contents of the Financial Statements

for the Period Ended 31 May 2023

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

CREATIVE HERITAGE STUDIOS CIC

Profit And Loss Account

for the Period Ended 31 May 2023

2023 2022


£

£
Turnover: 5,125 0
Cost of sales: 0 0
Gross profit(or loss): 5,125 0
Administrative expenses: ( 529 )
Operating profit(or loss): 4,596 0
Profit(or loss) before tax: 4,596 0
Tax: ( 873 )
Profit(or loss) for the financial year: 3,723 0

CREATIVE HERITAGE STUDIOS CIC

Balance sheet

As at 31 May 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 3 3
Cash at bank and in hand: 8,021 0
Total current assets: 8,024 3
Creditors: amounts falling due within one year: 4 ( 4,298 )
Net current assets (liabilities): 3,726 3
Total assets less current liabilities: 3,726 3
Total net assets (liabilities): 3,726 3
Members' funds
Profit and loss account: 3,726 3
Total members' funds: 3,726 3

The notes form part of these financial statements

CREATIVE HERITAGE STUDIOS CIC

Balance sheet statements

For the year ending 31 May 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 13 January 2024
and signed on behalf of the board by:

Name: Corinne Lewis-Ward
Status: Director

The notes form part of these financial statements

CREATIVE HERITAGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 31 May 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

CREATIVE HERITAGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

CREATIVE HERITAGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Debtors

2023 2022
£ £
Other debtors 3 3
Total 3 3

CREATIVE HERITAGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due within one year note

2023
£
Taxation and social security 873
Accruals and deferred income 3,375
Other creditors 50
Total 4,298

COMMUNITY INTEREST ANNUAL REPORT

CREATIVE HERITAGE STUDIOS CIC

Company Number: 12603546 (England and Wales)

Year Ending: 31 May 2023

Company activities and impact

Creative Heritage Studios Our mission is to deliver projects that explore how culture and commercial activity can coexist without compromising cultural quality and values. We understand the essential part that arts and culture play in society and seek to create sustainable opportunities for creativity to thrive.Old funding models are crumbling and it is our key focus to find new ways of bringing creativity to wider audiences. While also supporting creative communities to develop financial autonomy and sustainability without compromising their ethics and creative practice.We are also committed to having a positive social impact with the work that we do, our first priority is to the cultural community we are part of. However, due to our Director Corinne Lewis-Ward’s unique lived experience of working across the cultural, charitable and corporate sectors, we are passionate about facilitating positive and robust partnerships within our network.During this financial year, we have been involved in the co-creation and delivery of training to members of the cultural community that we serve. The main aims of this training are to help creatives successfully commercialise their creative practice to make a sustainable income. We have also supported creatives through mentoring activities to provide more bespoke support to individuals. In addition to this, we have been working with our creative and cultural supply chain to commission new artwork and products to develop a range of products and services that we aim to launch during the next financial year under the project name Antiques of the Future. This project is designed to help support the cultural supply chain that we serve and generate income to support the work we do at Creative Heritage Studios CiC. The benefits to our community have been professional development and support to generate a sustainable income. Bespoke mentoring support that helps individuals grow and develop their creative and cultural businesses. An increase in out cultural supply chains income through the commission of new products and services.

Consultation with stakeholders

While there has been no official stakeholder feedback during our first year of trading. We have collated several video testimonials from participants who attended our co-created training courses to gather feedback on their experience of working with us. This feedback has been invaluable in helping us create a range of new projects and training courses that future participants will benefit from. During the delivery of our training sessions, we also gathered feedback from participants through interactive presentation tools such as Mentimeter, this helped us respond to any individual needs while also helping us understand what worked well for the participants.

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
13 January 2024

And signed on behalf of the board by:
Name: Corinne Lewis-Ward
Status: Director