DERELICT ARTS CIC

Company limited by guarantee

Company Registration Number:
13909347 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 11 February 2022

End date: 28 February 2023

DERELICT ARTS CIC

Contents of the Financial Statements

for the Period Ended 28 February 2023

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

DERELICT ARTS 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

Directors

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

Philip Sykes
Chris Gilligan


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
11 February 2024

And signed on behalf of the board by:
Name: Philip Sykes
Status: Director

DERELICT ARTS CIC

Profit And Loss Account

for the Period Ended 28 February 2023

13 months to 28 February 2023


£
Turnover: 12,750
Cost of sales: ( 12,492 )
Gross profit(or loss): 258
Distribution costs: 0
Administrative expenses: ( 718 )
Operating profit(or loss): (460)
Profit(or loss) before tax: (460)
Profit(or loss) for the financial year: (460)

DERELICT ARTS CIC

Balance sheet

As at 28 February 2023

Notes 13 months to 28 February 2023


£
Current assets
Cash at bank and in hand: 2
Total current assets: 2
Net current assets (liabilities): 2
Total assets less current liabilities: 2
Accruals and deferred income: ( 462 )
Total net assets (liabilities): (460)
Members' funds
Profit and loss account: (460)
Total members' funds: ( 460)

The notes form part of these financial statements

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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 11 February 2024
and signed on behalf of the board by:

Name: Philip Sykes
Status: Director

The notes form part of these financial statements

DERELICT ARTS 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

    2.2.TurnoverTurnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced 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 has transferred 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. 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

DERELICT ARTS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    13 months to 28 February 2023
    Average number of employees during the period 0

COMMUNITY INTEREST ANNUAL REPORT

DERELICT ARTS CIC

Company Number: 13909347 (England and Wales)

Year Ending: 28 February 2023

Company activities and impact

Derelict Arts in 2022 produced two main events in the summer and autumn both with clear community engagement and participation. The first partnered with Preston’s Intact Centre, which has numerous supportive functions for the local community and stakeholders range across the ages, backgrounds and support needs, some with enduring mental health issues and learning disabilities. Derelict produced all the performance and film elements of Intact’s summer fair including a red carpet for the local community to enjoy their own ‘Hollywood minute of fame’. Derelict were paid by Intact’s ACE funding for the event and then paid the artists and others that we hired to run it and perform. The second event was a yearly collaboration that Derelict holds with Preston City Council and their ‘Lancashire Encounter’ event. Derelict held numerous performances and interactions with the public, ‘taking over’ a central street in Preston and hosting live art pieces in shops and the marketplace. The event featured many opportunities for local people and visitors in the city to get involved in each performance and chances to have their say on future events. Derelict were paid by Preston City Council’s funding for the event and then paid the artists and others that we hired to run it and perform. We also gave several undergraduate volunteers an opportunity to assist in the production of the event.Derelict directors were paid fees for their own production duties on both of these key events.

Consultation with stakeholders

Derelict Arts makes and produces live art and performance in response to Preston residents and the core summer project was devised after a series of public consultations in and around the city including a major arts co-production project held for local residents and visitors in Preston’s bus station. We also re-engaged with many people we had previously worked with on our ‘art of the city’ project from before the pandemic to hear their views on what they would like to see happen in the city. The performances held also had direct engagement with local residents which were again, responded to in the next season of activity.

Directors' remuneration

Details of renumeration for Philip Sykes and Chris Gilligan are in accounts provided. The costs are included within subcontractor costs and total £5105.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
11 February 2024

And signed on behalf of the board by:
Name: Philip Sykes
Status: Director