for the Period Ended 31 January 2024
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Cost of sales: |
(
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(
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Gross profit(or loss): |
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Distribution costs: |
(
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(
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Administrative expenses: |
(
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(
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Other operating income: |
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Operating profit(or loss): |
( |
( |
Profit(or loss) before tax: |
( |
( |
Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Stocks: | 4 |
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Debtors: | 5 |
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Cash at bank and in hand: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: | 6 |
(
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(
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Net current assets (liabilities): |
( |
( |
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Total assets less current liabilities: |
( |
( |
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Total net assets (liabilities): |
( |
( |
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Members' funds | |||
Profit and loss account: |
( |
( |
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Total members' funds: |
( |
( |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 January 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
for the Period Ended 31 January 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 January 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 February 2023 |
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Additions |
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Disposals |
(
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(
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(
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(
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Revaluations | ||||||
Transfers | ||||||
At 31 January 2024 |
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Depreciation | ||||||
At 1 February 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 31 January 2024 |
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Net book value | ||||||
At 31 January 2024 |
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At 31 January 2023 |
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for the Period Ended 31 January 2024
2024 | 2023 | |
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£ | £ | |
Stocks |
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Total |
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for the Period Ended 31 January 2024
2024 | 2023 | |
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£ | £ | |
Trade debtors |
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Other debtors |
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Total |
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for the Period Ended 31 January 2024
2024 | 2023 | |
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£ | £ | |
Bank loans and overdrafts |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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Cloak Room CIC began operation in January 2021. This is the second annual report completed. Cloak Room CIC was formed to recognise the not-for-profit work which exists at the venue titled “The Cloak and Dagger”, an independent grassroots facility offering a space open for community use. As part of The Cloak and Dagger’s COVID versatility and adaptation strategy we understood in order to overcome the financial impact of the lockdowns we needed to increase avenues of funding and receive additional support to achieve our mission statement. ACTIVITIES: This year we hosted 301 events within our venue between January and September: 9 x Games nights, 36 x Life Drawings, 5 x Cabaret, 19 x Open Mics, 2 Indoor Markets, 16 x Workshops, 65 x DJ slots, 25 x craft workshops, 10 x comedy shows, 26 x Club Nights, 38 x Live Gigs, 21 x Private Parties, 9 x Exercise classes, 12 x Queer Events and 7 x Spoken Word Events. Launch of Radio Station: We were pleased to include Void radio, a volunteer radio station as part of the venue’s offering. The radio station showcased local DJs and live streamed events which took place within Cloak & Dagger. Independent Venue Week- We took part in a UK wide Grassroots venues festival which was broadcasted on BBC 6 music. First ever show! We were a platform for performers to try new material, the majority of our events included in last year’s program were of new unestablished artists. Some artists now are signed and we are officially recognised by MVT and IVW as a grassroots venue. Pay What You Can- We offer at least one free entry event a week and all internal events have a low income or pay what you can option. A large proportion of our local community are considered to have low incomes. We want our venue to be affordable and accessible to as many people as possible.
Our main stakeholders are the following: Performers/creatives Local Community (Ashley Ward) Citywide wards Members: We work alongside our current member groups: United Models Life Drawing CIC, Education Sessions, Void Radio, Digestive Chamber, Collector Cave UK, Debauched Tales and Aftermirth to name a few. Members are provided with use of our facilities for free or at a reduced not-for-profit rate to assist us with providing events and training which fulfil our community obligations. Consultations with these groups are on a one to one basis and occur when required. Media regarding closure: As hard as we tried to protect the venue this year we sadly had to close our doors for good. Unfortunately we were not able to protect the venue from residential complaints, regardless of investing more into soundproofing and introducing more quieter events to our program. We were overcome by support from residents who were in support of the venue, customers and performers. Many promoters who worked with us campaigned to raise money and save the venue on our behalf. The campaigns went viral and were reacted on by Music Venues Trust England Co-ordinator. Bristol City Council put too many constraints to our license which generated an estimated revenue loss of £45,000. We were unable to continue to take the financial risk. We left the venue in August 2023. Our plans for the future are to continue to operate as event planners and consultants for the late night industry. We have secured a temporary location in Filwood Community Centre, to provide events and assist the community centre with increasing their income from events and room hire.
Jenna Graves is appointed to do finance management, strategic lead, event management and project management for the CIC Amber Hennessey was appointed as an event manager and community engagement officer. Both directors are employed by Cloak Room CIC and must commit to 40 hours a week work solely for the benefit of Cloak Room CIC. The wage agreed for 2023/24 was £15 per hour. Jenna Graves: Total pay for 2023-2024 was £0.00 (continued to work without pay due to financial difficulties of the CIC). Amber Hennessey: Total pay for 2023-2024 was £10749.51. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed. We have not had any requests to review remuneration from our stakeholders.
Cloak Room CIC offers an occasional service to sell tickets on behalf of performers. These assets were transferred to the performers at full consideration. With the closure of Cloak and Dagger, assets were sold at full consideration. The majority of assets have been retained for relocation of site.
This report was approved by the board of directors on
14 October 2024
And signed on behalf of the board by:
Name: Jenna Rebecca Graves
Status: Director