MARGATE ARTS CLUB CIC

Company limited by guarantee

Company Registration Number:
10143485 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

MARGATE ARTS CLUB CIC

Contents of the Financial Statements

for the Period Ended 30 April 2023

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

MARGATE ARTS CLUB CIC

Directors' report period ended 30 April 2023

The directors present their report with the financial statements of the company for the period ended 30 April 2023

Directors

The directors shown below have held office during the whole of the period from
1 May 2022 to 30 April 2023

A Z M L R Vandenberg
L O J P B Vandenberg


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
18 January 2024

And signed on behalf of the board by:
Name: A Z M L R Vandenberg
Status: Director

MARGATE ARTS CLUB CIC

Profit And Loss Account

for the Period Ended 30 April 2023

2023 2022


£

£
Turnover: 83,857 82,379
Cost of sales: ( 52,208 ) ( 51,859 )
Gross profit(or loss): 31,649 30,520
Administrative expenses: ( 62,159 ) ( 44,984 )
Other operating income: 17,145 57,062
Operating profit(or loss): (13,365) 42,598
Profit(or loss) before tax: (13,365) 42,598
Profit(or loss) for the financial year: (13,365) 42,598

MARGATE ARTS CLUB CIC

Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 39,611 51,215
Total fixed assets: 39,611 51,215
Current assets
Stocks: 4 3,300 300
Debtors: 5 2,923
Cash at bank and in hand: 2,224 2,680
Total current assets: 8,447 2,980
Creditors: amounts falling due within one year: 6 ( 20,051 ) ( 6,823 )
Net current assets (liabilities): (11,604) (3,843)
Total assets less current liabilities: 28,007 47,372
Creditors: amounts falling due after more than one year: 7 ( 6,000 )
Total net assets (liabilities): 28,007 41,372
Members' funds
Profit and loss account: 28,007 41,372
Total members' funds: 28,007 41,372

The notes form part of these financial statements

MARGATE ARTS CLUB CIC

Balance sheet statements

For the year ending 30 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 18 January 2024
and signed on behalf of the board by:

Name: A Z M L R Vandenberg
Status: Director

The notes form part of these financial statements

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 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

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2022 12,324 46,982 59,306
Additions
Disposals ( 4,613 ) ( 4,613 )
Revaluations
Transfers
At 30 April 2023 7,711 46,982 54,693
Depreciation
At 1 May 2022 3,275 4,816 8,091
Charge for year 666 6,325 6,991
On disposals
Other adjustments
At 30 April 2023 3,941 11,141 15,082
Net book value
At 30 April 2023 3,770 35,841 39,611
At 30 April 2022 9,049 42,166 51,215

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

4. Stocks

2023 2022
£ £
Stocks 3,300 300
Total 3,300 300

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

5. Debtors

2023 2022
£ £
Trade debtors 2,923
Total 2,923

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 41
Taxation and social security 6
Accruals and deferred income 3,157 69
Other creditors 16,847 6,754
Total 20,051 6,823

MARGATE ARTS CLUB CIC

Notes to the Financial Statements

for the Period Ended 30 April 2023

7. Creditors: amounts falling due after more than one year note

  2022
  £
Other creditors 6,000
Total   6,000

COMMUNITY INTEREST ANNUAL REPORT

MARGATE ARTS CLUB CIC

Company Number: 10143485 (England and Wales)

Year Ending: 30 April 2023

Company activities and impact

Margate Arts Club is a small arts social space and bar whose objective is to facilitate the social intercourse of persons connected with or interested in Art. Margate Arts Club operates 2 big events a month with art gallery space, performance, music and bar. Events celebrate different art forms and have many benefits to the surrounding community both socially and economically.The gallery window display changes monthly showcasing art to the community.The space is also used to record radio shows and for musicians and performers to record and rehearse. It has been a difficult trading year due to increased stock and fuel costs, and we are passionate about paying our team as fairly as possible. We so believe in the mission of the club and the wonderful social benefits of coming together in community spaces. We hope as the cost of living crisis eases we will return to a healthier more stable income.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

In 22/23 Director of the company Luke Vandenberg received £12,000 in salary.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
18 January 2024

And signed on behalf of the board by:
Name: A Vandenberg
Status: Director