MAGIC ACORNS CIC

Company limited by guarantee

Company Registration Number:
12117221 (England and Wales)

Unaudited statutory accounts for the year ended 5 April 2023

Period of accounts

Start date: 6 April 2022

End date: 5 April 2023

MAGIC ACORNS CIC

Contents of the Financial Statements

for the Period Ended 5 April 2023

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

MAGIC ACORNS CIC

Directors' report period ended 5 April 2023

The directors present their report with the financial statements of the company for the period ended 5 April 2023

Directors

The directors shown below have held office during the whole of the period from
6 April 2022 to 5 April 2023

Charlotte Arculus
Katherine Haynes
Jessica Pitt
Sophie Fox
Lyndall Rosewarne


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
19 March 2024

And signed on behalf of the board by:
Name: Sophie Fox
Status: Director

MAGIC ACORNS CIC

Profit And Loss Account

for the Period Ended 5 April 2023

2023 8 months to 5 April 2022


£

£
Turnover: 54,108 38,765
Cost of sales: ( 44,588 ) ( 36,101 )
Gross profit(or loss): 9,520 2,664
Administrative expenses: ( 9,520 ) ( 2,664 )
Operating profit(or loss): 0 0
Profit(or loss) before tax: 0 0
Profit(or loss) for the financial year: 0 0

MAGIC ACORNS CIC

Balance sheet

As at 5 April 2023

Notes 2023 8 months to 5 April 2022


£

£
Current assets
Cash at bank and in hand: 98,601 24,017
Total current assets: 98,601 24,017
Creditors: amounts falling due within one year: 3 ( 98,601 ) ( 24,017 )
Net current assets (liabilities): 0 0
Total assets less current liabilities: 0 0
Total net assets (liabilities): 0 0
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

MAGIC ACORNS CIC

Balance sheet statements

For the year ending 5 April 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 19 March 2024
and signed on behalf of the board by:

Name: Sophie Fox
Status: Director

The notes form part of these financial statements

MAGIC ACORNS CIC

Notes to the Financial Statements

for the Period Ended 5 April 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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

MAGIC ACORNS CIC

Notes to the Financial Statements

for the Period Ended 5 April 2023

  • 2. Employees

    2023 8 months to 5 April 2022
    Average number of employees during the period 5 5

MAGIC ACORNS CIC

Notes to the Financial Statements

for the Period Ended 5 April 2023

3. Creditors: amounts falling due within one year note

2023 8 months to 5 April 2022
£ £
Other creditors 98,601 24,017
Total 98,601 24,017

COMMUNITY INTEREST ANNUAL REPORT

MAGIC ACORNS CIC

Company Number: 12117221 (England and Wales)

Year Ending: 5 April 2023

Company activities and impact

MAGIC ACORNS CIC Social Objectives are: Provide regular ongoing creative activities for babies and young children.Provide training, CPD and networking for artists, creatives and staff working with babies and youngchildren.Provide creative events and special arts-based opportunities for babies, young children, their parentsand carers.During this period Magic Acorns CIC has provided regular sessions for children and families in Great Yarmouthand at other locations in Norfolk. 92 children and 102 parents and carers took part in sessions.178 adults took part in events aimed at developing their practice. This included both established artists andemerging artists under 25.Sessions included online seminars and sharing, Continuing Professional Development for Music Education hubsand Germination, a project aimed specifically at local emerging artists of diverse backgrounds.As part of their involvement, Germination young artists delivered short sessions in settings, promoting sharedlearning between early years setting staff and the artists. Some EY staff also took part in training days for thisproject.20 artists were contracted during this period. All young artists were paid a living wage and offered travelexpenses as part of Magic Acorns focus on making work sustainable for artists.Time has been spent planning and developing ideas. This has included wide ranging conversations with the EYand arts sector contacts both locally and nationally/internationally.

Consultation with stakeholders

Children and FamiliesMagic Acorns artists provide a constant feedback loop for parents and their children within sessions.The mood, energy levels and interest of children and carers influence the way in which the sessiontakes place and the children’s engagement leads the way each session unfolds. In the case of the groupat North Denes Primary school, the number of attendees grew over the period of delivery as parentsrecommended the group to others.Magic Acorns undertakes some formal evaluation in the shape of end of period questionnaires.Carers report that their children enjoy sessions and that there is a benefit for both carers and children inattending sessions which cut isolation and where they feel comfortable and welcomed.Magic Acorns intends to build on this feedback to offer more sessions but also to work with carers andchildren over the long term, developing a sustainable offer and a cohort of parents and children that weknow and who know us.We are aware that deep levels of trust can be developed with sustained work and that this engenders asense of being rooted and supported.Magic Acorns continues to review its policy around charging carers and children. There is a strongfeeling that in Great Yarmouth, where most of our work is based, that we will continue to providesessions free of charge. Magic Acorns does not want cost to be a barrier for families in accessing itssessions.Artist/MusiciansMagic Acorns has consulted established artists and emerging artists around the conditions that supportand sustain creatives in developing their practice. We are aware that training opportunities are only oneof the building blocks that make it possible for an artist to continue working in early years: a livingwage, sustained contracts, mentoring and recognition of the special skills of EY artists from contractorsare also important. As a result, Magic Acorns is committed to paying a living wage, considering howartists are contracted and where possible making provision for longer term sustainable work, so thatartists have the chance to establish themselves and their practice.We are committed to wellbeing support for artists and to providing opportunities for ongoing creativedevelopment.Magic Acorns continues to share practical and theoretical knowledge our wider group of practitionersnationally and internationally. This ranges from ‘song shares’ to talks from internationally renownacademics, experts in their specialist areas. By doing this, we are sharing knowledge and information aswidely as possible.EY Arts Sector ContactsMagic Acorns is keen to learn from local contacts what they need from practitioners and schemes ofwork to fit in with county wide agendas and initiatives. One of our key conversations with a number ofcontacts was about Magic Acorns role in developing EY arts in Norfolk and Suffolk. Unlike manycommercial operators, Magic Acorns does not intend to replicate its sessions across the area.Instead we see our role as developing and supporting artist/musicians who want to do this in otherareas. We aim to model sustainable working practices. This is key to the conversations we have hadwith Music Hubs, arts officers and Early Years contacts.Locally Magic Acorns has linked in with Decan, a meetup about local offers in Great Yarmouth.Norwich Theatre Royal has agreed to host training days for us and local arts officer have suggestedpartnerships and funding for us.An application to The Froebel Trust to support our research strand of work led to a partnership betweenMagic Acorns, The Froebel Trust and the Royal College of Music who matched the Froebel Trust grantaward. The Inside -Out Project enabled us to recruit a Research Associate, supervised by Magic Acorns'director Jess Pitt, in an investigation of Magic Acorns' artistic practice. The research report can be foundhere: https://www.froebel.org.uk/research-library/inside-out-a-study-of-wordless-sound-play-as-a-pedagogyfor-early-childhood-artists-and-educatorsImpact:Developed good relationships with two respected organisations from both early childhood education andarts domains. This widens the reach of our work and incfeases our sphere of influence upon which we canbuild in coming years.Our Networks includedJuly 2022Making Connections - Suffolk Early Years Music ProjectsNovember 2022Licensed to be creative withCollege of West AngliaJanuary 2023Inside Out - Froebel Research NetworkNorfolk Early Childhood and Families Service.OtherMagic Acorns were put in touch with architect and philanthropist Gillian Harwood by OriginalProjects. Gillian had recently purchased a building on Stonecutters Way Great Yarmouth with theintention of developing it as a creative hub. Magic Acorns will play a large role in this work,developing the ground floor into a space for Early Years sessions and artist training. This relationshipwill enable Magic Acorns to establish a community hub for its work right in the centre of town.

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
19 March 2024

And signed on behalf of the board by:
Name: Sophie Fox
Status: Director