NUSIC C.I.C.

Company limited by guarantee

Company Registration Number:
10320764 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

NUSIC C.I.C.

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

NUSIC C.I.C.

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 4,512 10,279
Total current assets: 4,512 10,279
Creditors: amounts falling due within one year: 3 ( 778 ) ( 5,390 )
Net current assets (liabilities): 3,734 4,889
Total assets less current liabilities: 3,734 4,889
Total net assets (liabilities): 3,734 4,889
Members' funds
Profit and loss account: 3,734 4,889
Total members' funds: 3,734 4,889

The notes form part of these financial statements

NUSIC C.I.C.

Balance sheet statements

For the year ending 31 July 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.

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 2 April 2024
and signed on behalf of the board by:

Name: Mark Delamere
Status: Director

The notes form part of these financial statements

NUSIC C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 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 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.

    Other accounting policies

    TaxationCorporation tax expense represents the sum of the tax currently payable. The tax currently payable is based on the taxable surplus for the year. The taxable surplus may differ from the surplus as reported in the statement of comprehensive income because of items of income or expense that are not allowable for tax.Government GrantsGovernment grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period.All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

NUSIC C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

NUSIC C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 600
Taxation and social security 450 873
Accruals and deferred income 328 3,917
Total 778 5,390

COMMUNITY INTEREST ANNUAL REPORT

NUSIC C.I.C.

Company Number: 10320764 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

We are a DIY community project dedicated to all things Notts, musical and new, we try our best to help musicians in Nottingham, and to do so in as fair a way as possible. All the ways we can help are laid out in our FAQ’s, all the musician helping resources we have accumulated are shared amongst our Academy pages.Our dream is to see as many local musicians as possible realise their dream of making a living doing what they love. Focused mainly (but not exclusively) on Nottinghamshire’s younger musicians.We also offer life changing work experience new opportunities for those dreaming of working in media and/or music.Our primary focus is young, upcoming musicians from Notts who have had no or very little previous media exposure, we also try and help where possible musicians who have been doing it a while but haven’t necessarily yet got the support they deserve. A key question for us is always ‘Can we make a difference?’ With Nottingham musicians our clear focus, we also like to try and help where we can, any young Nottinghamites with aspirations in the creative industries.

Consultation with stakeholders

It is intrinsic to what Nusic CIC do that we constantly interact with and listen to our stakeholders.

Directors' remuneration

Remuneration for the Director is shown within the financial statements.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
2 April 2024

And signed on behalf of the board by:
Name: Mark Delamere
Status: Director