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Company limited by guarantee

Company Registration Number:
SC659328 (Scotland)

Unaudited statutory accounts for the year ended 30 April 2023

Period of accounts

Start date: 1 May 2022

End date: 30 April 2023

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Contents of the Financial Statements

for the Period Ended 30 April 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

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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

Principal activities of the company

Artistic creation and Operation of arts facilities



Directors

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

Francis Frederick Thorburn
Roi Carmeli


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
30 August 2024

And signed on behalf of the board by:
Name: Francis Frederick Thorburn
Status: Director

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Balance sheet

As at 30 April 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 6 5
Total current assets: 6 5
Creditors: amounts falling due within one year: 3 ( 4,546 ) ( 3,460 )
Net current assets (liabilities): (4,540) (3,455)
Total assets less current liabilities: (4,540) ( 3,455)
Accruals and deferred income: ( 345 ) ( 479 )
Total net assets (liabilities): (4,885) (3,934)
Members' funds
Profit and loss account: (4,885) ( 3,934)
Total members' funds: ( 4,885) (3,934)

The notes form part of these financial statements

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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.

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 30 August 2024
and signed on behalf of the board by:

Name: Francis Frederick Thorburn
Status: Director

The notes form part of these financial statements

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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

    Turnover policy

    Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Other accounting policies

    Going Concern - The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

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Notes to the Financial Statements

for the Period Ended 30 April 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

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Notes to the Financial Statements

for the Period Ended 30 April 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Other creditors 4,546 3,460
Total 4,546 3,460

COMMUNITY INTEREST ANNUAL REPORT

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Company Number: SC659328 (Scotland)

Year Ending: 30 April 2023

Company activities and impact

The Company has continued to work at 71 Oxford Street with 6 resident visual artists and 3 resident resident musicians. Providing them with studio spaces to develop new creative works and their own artistic practices. The company has created exhibition and performance spaces for the residents to show their work through exhibitions and live performance events. We have facilitated the exhibiting of some of these works off-site in both England and Scotland through assistance with production, transportation, installation and critical discourse surrounding the artists practices. We have also set up a 3d workshop space on Bell Street to facilitate the making of objects and sculptural work for residents in order to encourage the production of new artwork and sharing of skills.

Consultation with stakeholders

The companies stake holders are visual artists and musicians in Glasgow and further afield. In particular the artists that have been on the facilitated residencies and used the spaces provided for the creative process. With each of our stakeholders we ask them what they would like to achieve from their residencies and then work together to facilitate the process and assist the artist/musician in achieving their vision and production of new work. The company is in constant communication with the individual stakeholders and tailors the provision of space and tools to support the individual needs of their projects and practices. This process is ongoing and is a result of constant consultation between the company and the artists that use our facilities.

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
30 August 2024

And signed on behalf of the board by:
Name: Francis Frederick Thorburn
Status: Director