VISUAL ART STUDIO CIC

Company limited by guarantee

Company Registration Number:
13965592 (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

VISUAL ART STUDIO 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

VISUAL ART STUDIO 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 company's principal activity during the year continued to be 'Cultural education and operation of arts facilities'.



Directors

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

Marinela Daniela Caldarus


Secretary Ovais Shamsuddin

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
4 November 2024

And signed on behalf of the board by:
Name: Marinela Daniela Caldarus
Status: Director

VISUAL ART STUDIO CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024 13 months to 31 March 2023


£

£
Turnover: 1,100 1,601
Cost of sales: ( 1,650 ) ( 414 )
Gross profit(or loss): (550) 1,187
Administrative expenses: ( 411 ) ( 277 )
Operating profit(or loss): (961) 910
Profit(or loss) before tax: (961) 910
Tax: 10 ( 173 )
Profit(or loss) for the financial year: (951) 737

VISUAL ART STUDIO CIC

Balance sheet

As at 31 March 2024

Notes 2024 13 months to 31 March 2023


£

£
Current assets
Cash at bank and in hand: 113 1,186
Total current assets: 113 1,186
Creditors: amounts falling due within one year: 3 ( 327 ) ( 449 )
Net current assets (liabilities): (214) 737
Total assets less current liabilities: (214) 737
Total net assets (liabilities): (214) 737
Members' funds
Profit and loss account: (214) 737
Total members' funds: ( 214) 737

The notes form part of these financial statements

VISUAL ART STUDIO 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 4 November 2024
and signed on behalf of the board by:

Name: Marinela Daniela Caldarus
Status: Director

The notes form part of these financial statements

VISUAL ART STUDIO 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

    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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

VISUAL ART STUDIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 13 months to 31 March 2023
    Average number of employees during the period 0 0

VISUAL ART STUDIO CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Creditors: amounts falling due within one year note

2024 13 months to 31 March 2023
£ £
Taxation and social security 173
Other creditors 327 276
Total 327 449

COMMUNITY INTEREST ANNUAL REPORT

VISUAL ART STUDIO CIC

Company Number: 13965592 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

In the 2023-2024 financial year, Visual Art Studio has made a significant impact on the local community through our visual art activities, health and well-being art therapy classes, held every Tuesday. Our studio has been a sanctuary for residents affected by the Covid-19 pandemic, offering a space to reconnect and find solace through art. Studio has supported vulnerable individuals, including those with medical histories and experiencing loneliness, providing them with exceptional art therapy and a nurturing environment. With 15-20 regular attendees each week, our classes foster social engagement and build a strong community. Notably, over 85% of our participants are retired individuals who find joy and fulfill-ment in our sessions. As we look ahead, we remain committed to expanding our reach and contin-uing to use art to heal, connect, and uplift.

Consultation with stakeholders

At Visual Art Studio CIC, we believe in building an organisation rooted in community values. Our director, a resident of this area for over ten years, has shaped our organisation model based on deep community ties and continuous dialogue with residents. By listening to their needs and experiences, we’ve tailored our services to benefit the community, supporting local economies through local procurement and active involvement in community initiatives. Our commitment is to grow and evolve with the community, creating a lasting legacy of mutual prosperity and well-being.

Directors' remuneration

No remuneration was received.

Transfer of assets

No transfer of assets other than for full consideration has been made.

This report was approved by the board of directors on
21 August 2024

And signed on behalf of the board by:
Name: Marinela Daniela Caldarus
Status: Director