CREATIVE COLCHESTER CIC

Company limited by guarantee

Company Registration Number:
14519935 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 2 December 2022

End date: 31 March 2024

CREATIVE COLCHESTER CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

CREATIVE COLCHESTER CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The director shown below has held office during the period of
30 January 2023 to 31 March 2024

Francis Hargrave


The director shown below has held office during the period of
30 January 2023 to 13 March 2024

Julia Payne


The director shown below has held office during the whole of the period from
2 December 2022 to 31 March 2024

Hana Loftus


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
16 September 2024

And signed on behalf of the board by:
Name: Hana Loftus
Status: Director

CREATIVE COLCHESTER CIC

Profit And Loss Account

for the Period Ended 31 March 2024

16 months to 31 March 2024


£
Turnover: 106,707
Gross profit(or loss): 106,707
Administrative expenses: ( 54,691 )
Operating profit(or loss): 52,016
Profit(or loss) before tax: 52,016
Profit(or loss) for the financial year: 52,016

CREATIVE COLCHESTER CIC

Balance sheet

As at 31 March 2024

Notes 16 months to 31 March 2024


£
Current assets
Debtors: 3 313
Cash at bank and in hand: 53,803
Total current assets: 54,116
Creditors: amounts falling due within one year: 4 ( 2,100 )
Net current assets (liabilities): 52,016
Total assets less current liabilities: 52,016
Total net assets (liabilities): 52,016
Members' funds
Profit and loss account: 52,016
Total members' funds: 52,016

The notes form part of these financial statements

CREATIVE COLCHESTER CIC

Balance sheet statements

For the year ending 31 March 2024 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 16 September 2024
and signed on behalf of the board by:

Name: Hana Loftus
Status: Director

The notes form part of these financial statements

CREATIVE COLCHESTER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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

    Income and expenses are included in the financial statements as they become receivable or due.

CREATIVE COLCHESTER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    16 months to 31 March 2024
    Average number of employees during the period 0

CREATIVE COLCHESTER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

16 months to 31 March 2024
£
Prepayments and accrued income 313
Total 313

CREATIVE COLCHESTER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

16 months to 31 March 2024
£
Accruals and deferred income 2,100
Total 2,100

COMMUNITY INTEREST ANNUAL REPORT

CREATIVE COLCHESTER CIC

Company Number: 14519935 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The 2023-24 year was a very busy one for Creative Colchester, having delivered a varied programme of events to support the city’s creative community, including: -10 networking meetups/socials -5 intensive skills training workshops for freelancers -3 insight nights (themed panel discussions) -A half day creative partnerships event with university of essex -Launched ‘First Thursdays’, (a monthly mini-festival showcasing colchester’s diverse creative talent and encouraging audiences to participate in something new) -Created links with local schools to develop our ‘creative careers’ programme -Resourced with a programme manager and a festival producer our impact: -160+ freelancers and businesses accessed training/business support -250+ network members attended our meetups -86% of workshop/insight night attendees felt the events had significantly expanded their skills -75% felt we offered events and training that they would not otherwise be able to access. -Via our First Thursdays events we have commissioned 26 artists/creatives. For many of these artists this was their first public funding. local venues marketed under the first Thursdays umbrella reported a 25-35% increase in footfall/spend. approx 700 people attended the initial 4 first Thursdays events, including visitors from outside the city.

Consultation with stakeholders

Creative Colchester’s activity is guided by an advisory board which brings together the key stakeholders in the sector including Arts Council England National Portfolio Organisations, University of Essex, Colchester Institute and representatives from the independent, freelance and business sector. Colchester City Council and Essex County Council, along with the Arts Council, have observer status. The board meets quarterly and provides the strategic direction for the CIC’s activity. Specific workstreams are overseen by a stakeholder steering group which shapes and provides oversight of the programmed activity. These steering groups include relevant wider stakeholders including the local Business Improvement District, community organisations such as Community 360, education representatives and smaller arts/cultural organisations as appropriate. Creative Colchester also conducts regular surveys of the network membership and wider sector, to gather insights into the activities that would most benefit the sector and fulfil the CIC’s mission. The programme of business and freelancer support and training is developed to directly respond to this.

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
18 September 2024

And signed on behalf of the board by:
Name: Hana Loftus
Status: Director