WATLING SPACES COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
12112285 (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

WATLING SPACES COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

WATLING SPACES COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 19,863 21,959
Total fixed assets: 19,863 21,959
Current assets
Cash at bank and in hand: 28,241 8,111
Total current assets: 28,241 8,111
Creditors: amounts falling due within one year: 4 ( 27,797 ) ( 9,236 )
Net current assets (liabilities): 444 (1,125)
Total assets less current liabilities: 20,307 20,834
Creditors: amounts falling due after more than one year: 5 ( 10,000 ) 0
Provision for liabilities: ( 3,774 ) ( 4,172 )
Total net assets (liabilities): 6,533 16,662
Members' funds
Profit and loss account: 6,533 16,662
Total members' funds: 6,533 16,662

The notes form part of these financial statements

WATLING SPACES COMMUNITY INTEREST COMPANY

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

Name: David Barnes
Status: Director

The notes form part of these financial statements

WATLING SPACES COMMUNITY INTEREST COMPANY

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

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 0

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 1,800 21,771 23,571
Additions 1,699 1,699
Disposals
Revaluations
Transfers
At 31 July 2023 3,499 21,771 25,270
Depreciation
At 1 August 2022 300 1,312 1,612
Charge for year 647 3,148 3,795
On disposals
Other adjustments
At 31 July 2023 947 4,460 5,407
Net book value
At 31 July 2023 2,552 17,311 19,863
At 31 July 2022 1,500 20,459 21,959

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 27,797 9,236
Total 27,797 9,236

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2023

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

2023 2022
£ £
Other creditors 10,000 0
Total 10,000 0

COMMUNITY INTEREST ANNUAL REPORT

WATLING SPACES COMMUNITY INTEREST COMPANY

Company Number: 12112285 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

After years of regeneration, the initial phase has been complete and officially opening in September 2023. We now offer a purpose built fully accessible performance art space for our community, supporting both new and existing groups. Watling Spaces oversees the daily operations of the facility, aiming to promote community unity and foster interactions across society.In additions to accommodating local theatre groups, dance and fitness classes, we have hosted various community events suck as Christmas markets, fundraising events, concerts, easter craft workshops, comedy shows, musical theatre workshops, Pilate sessions and a children’s nearly new sale.Despite delays caused by the cost-of-living crisis, we are more determined than ever to establish this facility in our underfunded area with limited activities. Moving forward we are focusing on the next phase of the facility, which includes a 360-seat art deco theatre with proscenium arch.Our presence on social media and community boards ensures ongoing engagement within the community, facilitating connections with local groups, schools, colleges and the promotion of business and activities in our area.

Consultation with stakeholders

The Stakeholders of the company include the local community, businesses and groups that utilise our venue studios to host engaging events and activities for the local and neighbouring areas. The company directors recognised the absence of community arts facilities first and engaged in extensive discussions with local residents, arts experts and performance venues during the building’s redevelopment, incorporating their feedback and suggestions into the structure.To determine the needs of local business, we distributed surveys to gather information on the types of facilities that would enhance their operations. We also involved leaders of disability groups to visit the project, offering practical insights for venue-specific improvements to ensure full accessibility.This approach enabled us to understand the local consumer demands and identify ways to cater to them effectively.Engagement is encouraged through our social media channels, collaborating with those interested in utilising the venue to introduce new concepts and amenities, by assisting in enhancing their business, we aim to create a more favourable environment for the entire community.

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
15 April 2024

And signed on behalf of the board by:
Name: David Barnes
Status: Director