COMMONGROUND COVENTRY C.I.C.

Company Registration Number:
11161654 (England and Wales)

Unaudited statutory accounts for the year ended 30 January 2024

Period of accounts

Start date: 31 January 2023

End date: 30 January 2024

COMMONGROUND COVENTRY C.I.C.

Contents of the Financial Statements

for the Period Ended 30 January 2024

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

COMMONGROUND COVENTRY C.I.C.

Profit And Loss Account

for the Period Ended 30 January 2024

2024 2023


£

£
Turnover: 80,339 110,720
Cost of sales: ( 29,235 ) ( 43,465 )
Gross profit(or loss): 51,104 67,255
Administrative expenses: ( 50,989 ) ( 77,419 )
Other operating income: 498 2,667
Operating profit(or loss): 613 (7,497)
Interest payable and similar charges: ( 2,987 ) ( 259 )
Profit(or loss) before tax: (2,374) (7,756)
Profit(or loss) for the financial year: (2,374) (7,756)

COMMONGROUND COVENTRY C.I.C.

Balance sheet

As at 30 January 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 17,110 21,834
Total fixed assets: 17,110 21,834
Current assets
Stocks: 4 2,618 837
Debtors: 5 1,332 10,316
Cash at bank and in hand: 2,076 12,912
Total current assets: 6,026 24,065
Creditors: amounts falling due within one year: 6 ( 12,515 ) ( 13,988 )
Net current assets (liabilities): (6,489) 10,077
Total assets less current liabilities: 10,621 31,911
Creditors: amounts falling due after more than one year: 7 ( 43,124 ) ( 62,042 )
Total net assets (liabilities): (32,503) (30,131)
Capital and reserves
Called up share capital: 2 2
Profit and loss account: (32,505 ) (30,133 )
Total Shareholders' funds: ( 32,503 ) (30,131)

The notes form part of these financial statements

COMMONGROUND COVENTRY C.I.C.

Balance sheet statements

For the year ending 30 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 30 October 2024
and signed on behalf of the board by:

Name: Katy Emma Rossin
Status: Director

The notes form part of these financial statements

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 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

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Land & Buildings 10% Straight line Plant & Machinery 25% Reducing balance Fixtures & Fittings 15% Reducing balance Computer Equipment 33% Straight line

    Valuation information and policy

    The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

    Other accounting policies

    Presentation currency: The accounts are presented in £ sterling.

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 4

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 January 2023 3,789 15,132 10,609 1,737 31,267
Additions
Disposals
Revaluations 956 617 266 1,839
Transfers
At 30 January 2024 3,789 14,176 9,992 1,471 29,428
Depreciation
At 31 January 2023 568 5,689 2,409 767 9,433
Charge for year 379 1,252 941 313 2,885
On disposals
Other adjustments
At 30 January 2024 947 6,941 3,350 1,080 12,318
Net book value
At 30 January 2024 2,842 7,235 6,642 391 17,110
At 30 January 2023 3,221 9,443 8,200 970 21,834

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

4. Stocks

2024 2023
£ £
Stocks 2,618 837
Total 2,618 837

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

5. Debtors

2024 2023
£ £
Trade debtors 1,332 10,316
Total 1,332 10,316

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Amounts due under finance leases and hire purchase contracts 310 409
Taxation and social security 3,892 441
Accruals and deferred income 1,648 7,342
Other creditors 6,665 5,796
Total 12,515 13,988

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 2,624 16,655
Other creditors 40,500 45,387
Total 43,124 62,042

COMMONGROUND COVENTRY C.I.C.

Notes to the Financial Statements

for the Period Ended 30 January 2024

8. Loans to directors

Name of director receiving advance or credit:
Description of the transaction:
Included within other creditors greater than 1 year are amounts of £27,000 (2023: 31,360) and £13,500(2023: £13,756) due to Mr J W Randle and Mrs K E Rossin, respectively. These amounts are interest free and have no set terms of repayment.
£
Balance at 30 January 2023 45,387
Advances or credits made:
Advances or credits repaid: 4,887
Balance at 30 January 2024 40,500

COMMUNITY INTEREST ANNUAL REPORT

COMMONGROUND COVENTRY C.I.C.

Company Number: 11161654 (England and Wales)

Year Ending: 30 January 2024

Company activities and impact

Commonground Coventry.C.I.C was made a community interest company in February 2024 for the purpose of Providing an arts centre with focus on giving access to high quality art within the community through exhibitions, events and education. Since then, we have continued to exhibit high profile artwork by nationally recognised photographers and writers accompanied with workshops and talks that have been free andaccessible to all. We have done this in collaboration with ongoing partnerships with several Universities including Goldsmiths and Warwick. We have also exhibited the work of local, neurodivergent, artists working alongside other organisations including The Arts Council. Again, these exhibitions were open to all with no financial or physical barriers in place. We have hosted events for a variety of community groups and charitable organisations which have included film screenings, talks, poetry readings and book launches. These events have encouraged participation from the local and wider community encouraging ongoing connections to form after the events have ended. We have now appointed another director whose main role within the organisation is to build on these connections and develop further links within the community through a series of events and arts based programmes. No stakeholder consultation has been held but is planned for the end of our first year as a C.I.C. (Planned for January 2025). The three directors plus representatives from the groups we have worked with us this year, plus participants from the workshops and events will meet. We aim to gather feedback on this year’s progress, in order to plan for next year’s programme of events and how they can further support the groups we want to reach. We have, however, gathered data from some of the events we have held, including which communities are attending, how many people are visiting certain events and how they found out about the event in order to be more specific with how we reach certain people in the future. For example one exhibition was visited by 390 people over 8 days. With the busiest day coinciding with a feature on local BBC news but with further peaks when social media post were made. A feedback form has now been created to be used at all future events and workshops so that this data can be assessed more accurately.

Consultation with stakeholders

No consultation with stakeholders

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
18 November 2024

And signed on behalf of the board by:
Name: Katy Emma Rossin
Status: Director