AGILE CITY CIC

Company limited by guarantee

Company Registration Number:
SC392954 (Scotland)

Unaudited statutory accounts for the year ended 29 February 2024

Period of accounts

Start date: 1 March 2023

End date: 29 February 2024

AGILE CITY CIC

Contents of the Financial Statements

for the Period Ended 29 February 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

AGILE CITY CIC

Balance sheet

As at 29 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 682,498 549,070
Total fixed assets: 682,498 549,070
Current assets
Stocks: 4 200 200
Debtors: 5 69,239 114,452
Cash at bank and in hand: 88,336 73,037
Total current assets: 157,775 187,689
Creditors: amounts falling due within one year: 6 ( 58,584 ) ( 94,980 )
Net current assets (liabilities): 99,191 92,709
Total assets less current liabilities: 781,689 641,779
Creditors: amounts falling due after more than one year: 7 ( 71,172 ) ( 78,967 )
Accruals and deferred income: ( 466,494 ) ( 485,168 )
Total net assets (liabilities): 244,023 77,644
Members' funds
Profit and loss account: 244,023 77,644
Total members' funds: 244,023 77,644

The notes form part of these financial statements

AGILE CITY CIC

Balance sheet statements

For the year ending 29 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 30 November 2024
and signed on behalf of the board by:

Name: Rob Morrison
Status: Director

The notes form part of these financial statements

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 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

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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

    Tangible fixed assets depreciation policy

    Ta n g i b l e assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rate in order to write off the assets over their estimated useful lives: Land and buildings - over 50 years. Plant and machinery - over 4 to S years. Fixtures and fittings - between 5 and 25 years.

    Other accounting policies

    Taxation. A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more ( or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Current and Deferred tax assets and liabilities arc not diseounted.Provisions ( ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.Govemment Grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure arc credited when the expenditure is charged to profit and loss.

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 5 4

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 324,734 332,569 657,303
Additions 97,324 72,801 170,125
Disposals
Revaluations
Transfers
At 29 February 2024 422,058 405,370 827,428
Depreciation
At 1 March 2023 33,197 75,036 108,233
Charge for year 6,613 30,084 36,697
On disposals
Other adjustments
At 29 February 2024 39,810 105,120 144,930
Net book value
At 29 February 2024 382,248 300,250 682,498
At 28 February 2023 291,537 257,533 549,070

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

4. Stocks

2024 2023
£ £
Stocks 200 200
Total 200 200

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

5. Debtors

2024 2023
£ £
Trade debtors 21,684 6,498
Other debtors 47,555 107,954
Total 69,239 114,452

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 8,475 8,475
Trade creditors 40,970 28,546
Taxation and social security 1,451 1,556
Accruals and deferred income 3,969 52,263
Other creditors 3,719 4,140
Total 58,584 94,980

AGILE CITY CIC

Notes to the Financial Statements

for the Period Ended 29 February 2024

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

2024 2023
£ £
Bank loans and overdrafts 67,779 76,561
Other creditors 3,393 2,406
Total 71,172 78,967

COMMUNITY INTEREST ANNUAL REPORT

AGILE CITY CIC

Company Number: SC392954 (Scotland)

Year Ending: 29 February 2024

Company activities and impact

Within the past year 01 Mar 2023 - 28 Feb 2024, Agile City CIC - Continued to financially support its activities through the hire and rental of work and event space across both our sites - Continued with ambitious projects to retrofit and update our post-industrial buildings to improve their energy consumption and functionality - Developed our internal administrative systems and website to adapt to an ever-more digital landscape and streamline our delivery processes - Expanded our team of delivery staff to facilitate our buildings and community At Civic House, key activities of the last year include: CH-W - Civic House Workspace - Since opening in the workspace in July 2022, our membership body has grown to host 40+ independent memberships, supporting sole traders, remote workers and organisations across the arts, design, community development and sustainability. Notable members including Sniffer, LocoHome Retrofit, Creative Glasgow, Rabbithole Design, Energy Savings Trust - Delivering monthly members networking events to connect and foster cross disciplinary partnerships and build relationships - Initiated the use of a digital booking platform, Nexudus, to streamline customer experience using the space - booking rooms and facilities and automatingpayments, reducing our staff administrative burden CH-B - Self Produced Cultural Programme - Produced quarterly performing arts and music events that provide a platform for young artists to perform and connect with new audiences in a supportive environment, with over 1k attendees over the year - Hosting a monthly tech meet-up for workers across digital and cyber industries, to form partnerships and seek support CH-H - Hires at Civic House - Operated Civic House as a public facing venue for hire, hosting festivals, conferences, talks, workshops, performances and community meetings with 80+ partner organisations including Glasgow Short Film Festival, Counterflows Music Festival, Scottish Mental Health Arts Festival, Creative Carbon Scotland, Creatives of Colour Festival, Glasgow Connected Arts Network, Local Energy Scotland, Scottish Canals, and HE institutions: GSA, Glasgow University, RCS, Strathclyde, Edinburgh and Napier University - Solidified a partnership between Agile City and Glasgow University School of Culture & Creative Arts as a partner venue for their external events CH-W-K - Civic House Canteen - Parveen’s canteen - opened in November 2022, now a thriving independent operation servicing 60+ customers daily, serving affordable vegan, pakistani inspired cuisine to our in house members, local workers and residents. Introducing monthly supper club events, reaching a wider audience. Highly regarded as one of the most exciting new food venues for Glasgow; being featured in BBC Rick Stein’s Food Stories and multiple media and press reviews. Catering for in-house and external events including public facing festivals and events, private meetings and weddings. Civic Street Maintained Civic Street Garden (previously Phoenix nursery), planted more wildflower seeds and cleared the surrounding pedestrian pathways. Continual development and improvement of Civic Street Yard, an outdoor space available for workshops, community events and our own programme of events. Continued development of architectural plans for shared use of Civic Street (pedestrians, cyclists and motorists), and development of Civic Street as a key intersection between the start of the Forth & Clyde canal and the City Centre At the Glue Factory, key activities of the last year include: Enhanced the thermal efficiency of the building by installing external wall insulation across the southern facade. Re-opened original windows and replaced with triple glazing, dramatically improving internal ambience and experience and maintaining a high performing thermal environment. Internal ceiling insulation on the ground floor to improve individual studio environment by dampening sound and heat loss. Rewiring studios and installing infrared heating systems. Installing individual electrical metering for each studio, to allow for tenant self-management. GF-H - Hires at the Glue Factory Host to Glasgow School of Art Masters programme interim and degree shows. Provided space for a wide variety of organisations and individuals, including production space for film, TV, theatre and various smaller enterprises GF-W - Workspace at the Glue Factory Signed off on new a new lease with local coffee roastery, Frankie Coffee. Working in partnership with existing tenant Risotto Studio to construct new ‘flagship’ studio that enhances their production and retail services. Provided affordable studio space for creative companies and artist workspaces

Consultation with stakeholders

Workspace - Tenant & Member consultation CH-W Conducted a survey and focus group to identify community needs, improvement to facilities and services that informed the development of new membership options and the initiation of a new digital system to manage workspace admin GF-W Regular communication and response to tenant feedback, improving and adapting services as required Connecting Glue Factory tenants with services at Civic House, creating a ‘campus’ style offer for those occupying our spaces

Directors' remuneration

One of the directors received payment of £15,000 during the period due to being an employee.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: Rob Morrison
Status: Director