MIRROR AND MOUNTAIN C.I.C.

Company limited by guarantee

Company Registration Number:
14560982 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 29 December 2022

End date: 31 December 2023

MIRROR AND MOUNTAIN C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2023

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

MIRROR AND MOUNTAIN C.I.C.

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Directors

The director shown below has held office during the whole of the period from
29 December 2022 to 31 December 2023

Toby Michael WILSON


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
13 April 2024

And signed on behalf of the board by:
Name: Toby Michael WILSON
Status: Director

MIRROR AND MOUNTAIN C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2023

2023


£
Turnover: 264
Cost of sales: ( 114 )
Gross profit(or loss): 150
Administrative expenses: ( 3,605 )
Other operating income: 3,395
Operating profit(or loss): (60)
Profit(or loss) before tax: (60)
Profit(or loss) for the financial year: (60)

MIRROR AND MOUNTAIN C.I.C.

Balance sheet

As at 31 December 2023

Notes 2023


£
Current assets
Cash at bank and in hand: 90
Total current assets: 90
Creditors: amounts falling due within one year: 3 ( 150 )
Net current assets (liabilities): (60)
Total assets less current liabilities: (60)
Total net assets (liabilities): (60)
Members' funds
Profit and loss account: (60)
Total members' funds: ( 60)

The notes form part of these financial statements

MIRROR AND MOUNTAIN C.I.C.

Balance sheet statements

For the year ending 31 December 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 April 2024
and signed on behalf of the board by:

Name: Toby Michael WILSON
Status: Director

The notes form part of these financial statements

MIRROR AND MOUNTAIN C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 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

MIRROR AND MOUNTAIN C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023
    Average number of employees during the period 1

MIRROR AND MOUNTAIN C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Creditors: amounts falling due within one year note

2023
£
Accruals and deferred income 150
Total 150

COMMUNITY INTEREST ANNUAL REPORT

MIRROR AND MOUNTAIN C.I.C.

Company Number: 14560982 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

The company (MM) operates an online music platform which supports musicians and charitable organisations through the sale of music uploaded by the musicians. For every music ‘release,’ artists have the option to donate between 5 and 100% of any subsequent revenue to a charitable ‘fund’ of their choice. These funds comprise charitable organisationsworking in a range of thematic areas including social inclusion, the environment, poverty alleviation and services for young people.In addition to providing the means for musicians to distribute their music and fundraise, MM supports both the artists registered on the platform and its beneficiary organisations through promotion, primarily on social media.MM began trading with its first artist sign-up in February 2023. Over the course of our first year, some 25 artists have registered and published music on the platform and over 70 individual releases have been sold. This has generated approximately £90.00 income for registered artists and £150.00 in charitable donations.In our first year, MM has invested in building engagement with musicians and customers through social media as this is crucial to driving sales on the platform. We have secured approximately 3000 follows across Facebook and Instagram.The response to MM’s concept has been overwhelmingly positive from musicians and its charitable beneficiaries. In our next year, we hope to continue and grow our engagement with them to drive more fundraising activities and build our community of like-minded artists and non-profits.

Consultation with stakeholders

MM’s key stakeholders are the musicians registered on the platform and representatives from its charitable beneficiaries. MM actively engages with each registered artist through email and through social media groups in order to collect feedback. These mechanisms have provided alot of useful feedback, primarily in relation to the design and efficiency of the platform itself. Through artist feedback, we have made a number of incremental improvements to the platform’s user interface and functionality. Next year, we will be releasing a new major versionof the platform and will be actively engaging with musicians and our charitable beneficiaries to assist in testing and to provide feedback on any new designs.One major area of improvement will be based upon feedback from musicians that they want to be more actively connected to the charities they are supporting through the sale of their music. For this reason, we will be designing a ‘community’ area of our platform through which musicians will be able to directly engage with our charitable beneficiaries and share their ideas. In this way, we want MM to become a hub for like-minded artists and non-profits to collaborate.

Directors' remuneration

No remuneration was received

Transfer of assets

The following transfers were made as donations to our registered beneficiaries generated through the sale of music on our platform. All transfers have been made with the regulator’s consent via the submission of CIC 53 forms:05/06/23: Donation to Audio Active (charity: 1168749) - £54.2511/12/23: Donation to Audio Active (charity: 1168749) - £9.1205/06/23: Donation to Indigo Volunteers (charity: 1158459) - £39.3305/06/23: Donation to Stay Up Late (charity: 1145040) - £24.4205/06/23: Donation to The LEAF Charity (charity: 1184069) - £23.41

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

And signed on behalf of the board by:
Name: Toby Wilson
Status: Director