DEAF EXPLORER CIC

Company Registration Number:
11639684 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

DEAF EXPLORER CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

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

DEAF EXPLORER 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

Principal activities of the company

The principal activity of the company is that of providing support services to deaf and disabled artists.

Additional information

Small companies exemption This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.



Directors

The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024

Alan McLean
Miss G A L Smith
Mr B E Avison
Mr A C Breeze


The directors shown below have held office during the period of
1 April 2023 to 25 September 2023

Mr J Read
Mrs R T Veazey


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
19 September 2024

And signed on behalf of the board by:
Name: Alan McLean
Status: Director

DEAF EXPLORER CIC

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 10,549 5,816
Total fixed assets: 10,549 5,816
Current assets
Debtors: 4 5,225 1,329
Cash at bank and in hand: 77,970 8,335
Total current assets: 83,195 9,664
Creditors: amounts falling due within one year: 5 ( 71,264 ) ( 3,409 )
Net current assets (liabilities): 11,931 6,255
Total assets less current liabilities: 22,480 12,071
Total net assets (liabilities): 22,480 12,071
Capital and reserves
Called up share capital: 3 3
Profit and loss account: 22,477 12,068
Total Shareholders' funds: 22,480 12,071

The notes form part of these financial statements

DEAF EXPLORER 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.

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 19 September 2024
and signed on behalf of the board by:

Name: Alan McLean
Status: Director

The notes form part of these financial statements

DEAF EXPLORER 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

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25% straight line Computers 33% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Other accounting policies

    Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. Leases Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. Government grants Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. Resources Expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

DEAF EXPLORER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

DEAF EXPLORER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 9,915 9,915
Additions 11,637 11,637
Disposals
Revaluations
Transfers
At 31 March 2024 21,552 21,552
Depreciation
At 1 April 2023 4,099 4,099
Charge for year 6,904 6,904
On disposals
Other adjustments
At 31 March 2024 11,003 11,003
Net book value
At 31 March 2024 10,549 10,549
At 31 March 2023 5,816 5,816

DEAF EXPLORER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Debtors

2024 2023
£ £
Trade debtors 1,732 0
Other debtors 3,493 1,329
Total 5,225 1,329

DEAF EXPLORER CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 5,301
Taxation and social security 1,331 768
Other creditors 64,632 2,641
Total 71,264 3,409

COMMUNITY INTEREST ANNUAL REPORT

DEAF EXPLORER CIC

Company Number: 11639684 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Deaf Explorer CIC has made significant progress in it’s aim to foster inclusivity in the cultural sector from March 2023 to April 1st, 2024. This year, the organisation received a three-year IPSO funding grant from Arts Council England. This vital support allows our board, staff, freelance producers, and artists to engage more deeply with the deaf community and the broader arts sector. Our aim is to create a vibrant, innovative, and accessible cultural landscape, inspiring the development of the next generation of deaf creatives, peers across the UK and enhancing accessibility for both deaf artists and audiences. The organisation's key projects and initiatives in the first year of funding included a dance celebration event that engaged 90 children from deaf and hearing schools, delivering a national tour by a deaf theatre maker, organising the creation of a new play by Wolverhampton-based hard of hearing actor/performer, starting professional development projects for three West Midlands artists, as well as taking part in several collaborative artistic projects. These projects aimed to build confidence, develop skills, and create high-quality, BSL-driven theatre productions for the deaf community. Deaf Explorer also organised an end-of-year conference on the theme of "Allies in the Arts," curated and organised by an independent deaf producer, over 70 deaf people attended the event. The conference highlighted best practices in the sector and provided essential conversations about collaboration, tokenism, accessibility, and innovation within the arts. Looking ahead, Deaf Explorer is committed to continuing to create opportunities for deaf creatives and developing the next generation of leaders in the arts to make the sector more inclusive for all. We continued to experience high demand for our expertise from the West Midlands cultural sector and aim to plan more with them in the future.

Consultation with stakeholders

We consult directly with Deaf and hard of hearing creatives through meetings, professional development planning, and the delivery of artistic projects. Our key stakeholders also include arts organisations and individuals (Allies) who seek to involve Deaf creatives and audiences. In 2023-2024, we continued to strengthen these partnerships to meet our strategic goals, with further plans for 2025-2026. We are actively building funding applications to support the resources needed to drive improvements in the cultural sector. Our stakeholders prioritise increasing the representation of Deaf creatives, particularly in artistic programming. Deaf audiences want to see more Deaf individuals involved and employed within the cultural sector, especially if the goal is to attract Deaf audiences to attend and engage with curated artistic events. Over the next two years, we aim to support theatre, dance practitioners, poets, and visual storytellers in outdoor arts settings. We will ensure that training and professional development are Deaf-aware and fully accessible. Visual artists in the Deaf community remain underrepresented, and we plan to address this gap in the coming years. Deaf creatives highlight the importance of partnerships with organisations to lead professional development activities. Deaf Explorer will continue working strategically to improve access for both Deaf creatives and audiences.

Directors' remuneration

Directors renumeration £73,393 (Company Directors are employees CEO and Executive Director)

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
20 September 2024

And signed on behalf of the board by:
Name: Alan McLean
Status: Director