CLOAK ROOM CIC

Company limited by guarantee

Company Registration Number:
13132162 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

CLOAK ROOM CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

CLOAK ROOM CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 70,759 162,376
Cost of sales: ( 25,287 ) ( 49,396 )
Gross profit(or loss): 45,472 112,980
Distribution costs: ( 272 ) ( 579 )
Administrative expenses: ( 51,094 ) ( 137,502 )
Other operating income: 2,395 20,999
Operating profit(or loss): (3,499) (4,102)
Profit(or loss) before tax: (3,499) (4,102)
Profit(or loss) for the financial year: (3,499) (4,102)

CLOAK ROOM CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 4,946 13,605
Total fixed assets: 4,946 13,605
Current assets
Stocks: 4 1,099 37
Debtors: 5 11,737 2,489
Cash at bank and in hand: 1,818
Total current assets: 14,654 2,526
Prepayments and accrued income: 878 878
Creditors: amounts falling due within one year: 6 ( 43,511 ) ( 36,542 )
Net current assets (liabilities): (27,979) (33,138)
Total assets less current liabilities: (23,033) ( 19,533)
Total net assets (liabilities): (23,033) (19,533)
Members' funds
Profit and loss account: (23,033) ( 19,533)
Total members' funds: ( 23,033) (19,533)

The notes form part of these financial statements

CLOAK ROOM CIC

Balance sheet statements

For the year ending 31 January 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 14 October 2024
and signed on behalf of the board by:

Name: Jenna Rebecca Graves
Status: Director

The notes form part of these financial statements

CLOAK ROOM CIC

Notes to the Financial Statements

for the Period Ended 31 January 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

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

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis Plant and Machinery 10 Percent Reducing Balance Fixtures and Fittings 10 Percent Reducing Balance Computer Equipment 10 Percent Reducing Balance Office Equipment 25 Percent Reducing Balance

CLOAK ROOM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 5

CLOAK ROOM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 672 10,271 4,213 15,156
Additions 1,520 1,520
Disposals ( 569 ) ( 4,500 ) ( 4,410 ) ( 9,479 )
Revaluations
Transfers
At 31 January 2024 103 5,771 1,323 7,197
Depreciation
At 1 February 2023 103 1,027 421 1,551
Charge for year 474 226 700
On disposals
Other adjustments
At 31 January 2024 103 1,501 647 2,251
Net book value
At 31 January 2024 0 4,270 676 4,946
At 31 January 2023 569 9,244 3,792 13,605

CLOAK ROOM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Stocks

2024 2023
£ £
Stocks 1,099 37
Total 1,099 37

CLOAK ROOM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Debtors

2024 2023
£ £
Trade debtors 11,737 2,399
Other debtors 90
Total 11,737 2,489

CLOAK ROOM CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 9
Taxation and social security 7,787 8,253
Accruals and deferred income 996
Other creditors 35,724 27,284
Total 43,511 36,542

COMMUNITY INTEREST ANNUAL REPORT

CLOAK ROOM CIC

Company Number: 13132162 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

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.

Consultation with stakeholders

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.

Directors' remuneration

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.

Transfer of assets

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