MAKE MEE STUDIO CIC

Company limited by guarantee

Company Registration Number:
13203246 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 1 March 2023

End date: 28 February 2024

MAKE MEE STUDIO CIC

Contents of the Financial Statements

for the Period Ended 28 February 2024

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

MAKE MEE STUDIO CIC

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Principal activities of the company

The company is a Community Interest Company (CIC). As such, the CIC's activities are outlined in the Community Interest Annual Report that is included within this filing.



Directors

The directors shown below have held office during the whole of the period from
1 March 2023 to 28 February 2024

Jaime Greenly
Tracey Mee
Nigel Joseph Richard Mullan


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
13 November 2024

And signed on behalf of the board by:
Name: Tracey Mee
Status: Director

MAKE MEE STUDIO CIC

Profit And Loss Account

for the Period Ended 28 February 2024

2024 2023


£

£
Turnover: 145,720 132,710
Cost of sales: ( 6,386 ) ( 4,665 )
Gross profit(or loss): 139,334 128,045
Administrative expenses: ( 148,182 ) ( 126,009 )
Other operating income: 8,849
Operating profit(or loss): 1 2,036
Interest payable and similar charges: ( 2 )
Profit(or loss) before tax: (1) 2,036
Tax: ( 311 )
Profit(or loss) for the financial year: (1) 1,725

MAKE MEE STUDIO CIC

Balance sheet

As at 28 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,821 2,532
Total fixed assets: 2,821 2,532
Current assets
Debtors: 4 392 4,044
Cash at bank and in hand: 36,629 21,979
Total current assets: 37,021 26,023
Creditors: amounts falling due within one year: 5 ( 33,178 ) ( 21,642 )
Net current assets (liabilities): 3,843 4,381
Total assets less current liabilities: 6,664 6,913
Total net assets (liabilities): 6,664 6,913
Members' funds
Profit and loss account: 6,664 6,913
Total members' funds: 6,664 6,913

The notes form part of these financial statements

MAKE MEE STUDIO CIC

Balance sheet statements

For the year ending 28 February 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 13 November 2024
and signed on behalf of the board by:

Name: Tracey Mee
Status: Director

The notes form part of these financial statements

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 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

    Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer. Revenue 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. Grants and funding are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant/funding conditions will be met, and the grants will be received. Grants and funding that specify performance conditions are recognised in Other Operating Income when the performance conditions are met. Where grant or funding income does not specify performance conditions, it is recognised in income when the proceeds are received or receivable. Grants and funding received before the recognition criteria are satisfied is recognised as a liability.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are depreciated over their expected useful economic life on a straight lie basis, as follows: - Land and buildings - 25 years - Plant and machinery - 5 years - Fixtures and fittings - 5 years - Vehicles - 10 years - Office equipment - 3 years

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 2

    The figure for 2023 excludes directors, whereas the figure for 2024 includes them.

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 1,849 1,752 3,601
Additions 1,495 244 1,739
Disposals
Revaluations
Transfers
At 28 February 2024 3,344 1,996 5,340
Depreciation
At 1 March 2023 239 830 1,069
Charge for year 585 865 1,450
On disposals
Other adjustments
At 28 February 2024 824 1,695 2,519
Net book value
At 28 February 2024 2,520 301 2,821
At 28 February 2023 1,610 922 2,532

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024 2023
£ £
Trade debtors 44 1,829
Prepayments and accrued income 348
Other debtors 2,215
Total 392 4,044

Short-term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

MAKE MEE STUDIO CIC

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 13
Trade creditors 4,408 248
Taxation and social security 311
Accruals and deferred income 15,655 7,981
Other creditors 13,102 13,102
Total 33,178 21,642

Short-term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

COMMUNITY INTEREST ANNUAL REPORT

MAKE MEE STUDIO CIC

Company Number: 13203246 (England and Wales)

Year Ending: 28 February 2024

Company activities and impact

The company runs sewing and creative classes in the London Borough of Lewisham. The primary aim of Make Mee Studio CIC is to make sewing and creativity as accessible, inclusive, and as environmentally and socially beneficial as possible. At Make Mee Studio CIC, we ran a number of projects and worked on initiatives that have benefited the community in the financial year 1st March 2024 -ending 29th February 2024. - After the success of our Art’s Council funded Sewcial sessions last year we have continued to offer free or low cost subsidised places at the weekly sessions for people who cannot afford the £10 cost. We are funding these places from our takings from other courses. At the Sewcial people can use our studio and equipment to work on their own sewing projects and socialise with other makers. Building a diverse local sewing community. - The CIC received £10,000 funding from housing provider L & Q to run a series of free beginners sewing workshops for local residents who would not usually be able to afford sewing classes or were feeling isolated. These began in September 2023 and are due to run until July 2024. By February 2024 we had facilitated 26 participants, with overwhelmingly positive feedback. Participants felt empowered by acquiring sewing skills and gaining confidence in their abilities " 75% of feedback respondents rated this increase in confidence 9 or 10/10. They mentioned the course provided a sense of belonging and community, which was especially valuable for those feeling isolated, One participant shared; “It changed my experience of integrating into London; making me feel less isolated and lonely.” Another stated that the course "has been genuinely life changing." They started the year feeling uninspired and low. The course gave them a supportive place to learn; they have now started a creative work placement. - At the beginning of this programme the CIC partnered with local support agencies such as social prescribing network Community Connections and local charity Lewisham Local to target local residents who fit our criteria. We ran 6 free drop in sessions around the Borough with different partners to advertise the courses. The course has been a huge success. We had such a long waiting list for participants in January 2024 we partially self funded a second class so we could reach more people and have more impact. - The CIC worked with the Local council housing provider on a series of 8 drop - in mending workshops for their residents. - The CIC ran a series of 6 subsidised sewing workshops at local homeless charity The 999 Club. - The CIC partnered with We Are Everyone in Dagenham at their Fabric Lab to provide a series of free sewing workshops for their local residents. - The CIC provided 4 work experience placements for local school students. - Where possible, The CIC sourced materials for our workshops from local and sustainable sources, purchasing end of roll and remnant fabrics and receiving donations of materials.

Consultation with stakeholders

The company’s stakeholders are the participants that attend our classes and courses as well as other local organisations in the charity/ support sector. The CIC always use feedback and evaluations from previous funded projects to inform future ideas. We have continued to ask for feedback on our funded project Sew Together, this feedback is vital in helping us to secure funding to continue this project and to improve it for future participants. We have used our links with support organisations in the area to develop our funded projects with the needs of specific target audiences in mind. The CIC regularly asks for feedback from our students on all of our courses and test new ideas with focus groups.

Directors' remuneration

Total directors' remuneration was £61,699.13 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

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
13 November 2024

And signed on behalf of the board by:
Name: Tracey Mee
Status: Director