STREETDRAW24 CIC

Company limited by guarantee

Company Registration Number:
13861765 (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

STREETDRAW24 CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

STREETDRAW24 CIC

Directors' report period ended 31 January 2024

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

Principal activities of the company

The company's principal activity continues to be that of organising and running community drawing events and exhibitions.



Directors

The director shown below has held office during the whole of the period from
1 February 2023 to 31 January 2024

Helen Trevaskis


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
2 October 2024

And signed on behalf of the board by:
Name: Helen Trevaskis
Status: Director

STREETDRAW24 CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 5,865 38,747
Cost of sales: ( 4,368 ) ( 28,746 )
Gross profit(or loss): 1,497 10,001
Administrative expenses: ( 2,870 ) ( 11,267 )
Other operating income: 681 1,400
Operating profit(or loss): (692) 134
Profit(or loss) before tax: (692) 134
Tax: 124 ( 128 )
Profit(or loss) for the financial year: (568) 6

STREETDRAW24 CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 124
Cash at bank and in hand: 2,145 2,352
Total current assets: 2,269 2,352
Creditors: amounts falling due within one year: 4 ( 2,831 ) ( 2,346 )
Net current assets (liabilities): (562) 6
Total assets less current liabilities: (562) 6
Total net assets (liabilities): (562) 6
Members' funds
Profit and loss account: (562) 6
Total members' funds: ( 562) 6

The notes form part of these financial statements

STREETDRAW24 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 2 October 2024
and signed on behalf of the board by:

Name: Helen Trevaskis
Status: Director

The notes form part of these financial statements

STREETDRAW24 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Other accounting policies

    Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

STREETDRAW24 CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

STREETDRAW24 CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Debtors

2024 2023
£ £
Other debtors 124
Total 124

STREETDRAW24 CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 2,831 2,346
Total 2,831 2,346

COMMUNITY INTEREST ANNUAL REPORT

STREETDRAW24 CIC

Company Number: 13861765 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The principal activities of StreetDraw24 CIC, that it was set up to conduct were: Organise, run, and help others organise and run, outdoor community drawing events. Organise, run, and help others organise and run, exhibitions of the output of community drawing events. Since the last report, we’ve run three such events in Cornwall, all in the autumn of 2023. Two events were run by other CICs both in new locations for StreetDraw24 and both in areas of considerable deprivation. We also ran a large event in Falmouth (our sixth in that town) with a turn-out of c. 200 people. Alongside the Falmouth event we ran a well-attended panel discussion, Art What is it Good For as part of our Falmouth StreetDraw24 and in collaboration with Form Festival. Through these we raised £3,804.64 for St Petrocs’ work with people facing and experiencing homelessness in Cornwall. In addition, we gave St Petrocs x50 StreetDraw24 2023 calendars at a print cost of £151and paid for a reprint of the People Project book – a prior collaboration with St Petrocs, at a cost of £352.80. In November 2023 we were involved in the annual Eden Project SleepOut in aid of St Petrocs and Amber a Devon-based charity supporting young people. We created artworks for those participating and for the organisers to support the fundraising and awareness raising cause. The People Project was a large-scale arts and research project designed to challenge stigma and stereotypes around homelessness. The project book caught the eye of The Duchy in Cornwall, and Prince William in his capacity as its heir and figurehead. The project helped influence the Duchy’s decision to work with St Petrocs creating 24 supported housing places for its clients in a new build project worth c. £3 million. The People Project was mentioned as instrumental in the Duchy press release. This is out and out the biggest impact StreetDraw24 has had since its creation. We feel very proud of what we achieved in our last accounting year.

Consultation with stakeholders

The company stakeholders include: - Individuals who take part in StreetDraw24’s events - Volunteers - Organisations that collaborate with us to hold these events - Clients that we provide services to. In 2023 we gathered feedback from two organisations we worked closely with to deliver community arts events – Create CIC, and The Poly arts centre in Falmouth. This feedback was aimed at helping improve how we run these types of events. We were unable to gather feedback from a third key partner, another CIC, despite our efforts as this organisation experienced problems around this time. We also sought feedback from St Petrocs on the People Project which, as mentioned in the previous section, was instrumental in bringing about an incredibly important strategic partnership between St Petrocs and the Duchy.

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
22 October 2024

And signed on behalf of the board by:
Name: Helen Trevaskis
Status: Director