THE SAVING GRACE COLLECTIVE CIC

Company limited by guarantee

Company Registration Number:
13701477 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

THE SAVING GRACE COLLECTIVE CIC

Contents of the Financial Statements

for the Period Ended 31 October 2023

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

THE SAVING GRACE COLLECTIVE CIC

Directors' report period ended 31 October 2023

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

Directors

The director shown below has held office during the whole of the period from
1 November 2022 to 31 October 2023

Nigel Cudjoe


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
31 August 2024

And signed on behalf of the board by:
Name: Nigel Cudjoe
Status: Director

THE SAVING GRACE COLLECTIVE CIC

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Administrative expenses: ( 2,291 ) ( 165 )
Other operating income: 3,500
Operating profit(or loss): 620 (165)
Profit(or loss) before tax: 620 (165)
Profit(or loss) for the financial year: 620 (165)

THE SAVING GRACE COLLECTIVE CIC

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 118 0
Cash at bank and in hand: 5,500
Total current assets: 118 5,500
Creditors: amounts falling due within one year: 4 ( 249 ) ( 6,276 )
Net current assets (liabilities): (131) (776)
Total assets less current liabilities: (131) ( 776)
Total net assets (liabilities): (131) (776)
Members' funds
Profit and loss account: (131) ( 776)
Total members' funds: ( 131) (776)

The notes form part of these financial statements

THE SAVING GRACE COLLECTIVE CIC

Balance sheet statements

For the year ending 31 October 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 31 August 2024
and signed on behalf of the board by:

Name: Nigel Cudjoe
Status: Director

The notes form part of these financial statements

THE SAVING GRACE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 October 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

THE SAVING GRACE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 0 0

THE SAVING GRACE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Debtors

2023 2022
£ £
Trade debtors 118 0
Total 118 0

THE SAVING GRACE COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 249 6,276
Total 249 6,276

COMMUNITY INTEREST ANNUAL REPORT

THE SAVING GRACE COLLECTIVE CIC

Company Number: 13701477 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

The company runs The Saving Grace Collective, a non profit social enterprise non-profit organisation working with people from a variety of backgrounds mainly focussed locally (including young people & adults at risk of financial, social, cultural, sexual orientation, gender based exclusion). The Saving Grace Collective provides access to music, film and multimedia projects as a tool to engage people in both formal and informal settings. We aim to develop and enrich young people’s & developing artists' technical skills, knowledge, experience, aspirations, achievements, self-esteem, social skills and confidence. During the financial year of 25 October 2022 - 31 October 2023, The Saving Grace Collectives activities have benefited the community in the following ways: Local artists have been provided opportunities to develop & refine their creative process, as well as being involved in various local & national music related projects as well as being provided the opportunity to exhibit & release music. The Saving Grace Collective has hired the services of 6 local businesses and has provided employment for 15 local freelancers and residents. The Saving Grace has worked with the local council in order to deliver a variety of local music based projects to the community. We have worked with 22 individual artists aiding them in their creative process as well as assisting them with marketing, promotion, design and release of their music. 5 local aspiring artists have gained national radio and press support as a result of our marketing and promotion of their releases. 7 songs have been produced and either delivered to local organisation or released to the public domain.

Consultation with stakeholders

The company’s stakeholder is a local resident and established recording artist / industry professional working with artists in kirklees & surrounding areas. The director of the company has lived in the local community for a number of years and developed the business model for The Saving Grace Collective based on their experience within the music industry, local community and work within the youth sector & creative media as well as talking to other local aspiring artists. In order to build a picture of what the local music community needs in respect to artistic support we use the following techniques; After the completion of each project we request participants fill out a short questionnaire about their experience, what they’ve learnt, and how we could improve our projects in the future. We consult with local aspiring & established artists that haven’t yet worked with the Saving Grace Collective to ascertain what types of projects they’d like to see in the future and what support they need. The data we gather enables us to identify that there are well over 200 talented artists with no means to professionally record, mix, promote and market their music to the general public. Approximately 40-60 individuals that have an interest in music related activities such as video production, design, promotion etc.

Directors' remuneration

The total amount of money paid to or owed to directors for their work was £7,530. There were no other payments or arrangements related to director compensation or severance that need to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
31 August 2024

And signed on behalf of the board by:
Name: Nigel Cudjoe
Status: Director