RAGTAG ARTS C.I.C.

Company limited by guarantee

Company Registration Number:
09663652 (England and Wales)

Unaudited statutory accounts for the year ended 5 April 2024

Period of accounts

Start date: 6 April 2023

End date: 5 April 2024

RAGTAG ARTS C.I.C.

Contents of the Financial Statements

for the Period Ended 5 April 2024

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

RAGTAG ARTS C.I.C.

Directors' report period ended 5 April 2024

The directors present their report with the financial statements of the company for the period ended 5 April 2024

Principal activities of the company

The principal activity of the company during the year under review was artistic education activities.



Directors

The directors shown below have held office during the whole of the period from
6 April 2023 to 5 April 2024

E Dewhurst
E Robertson
A M Sainsbury
M Sawyer
J Simpson


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
20 December 2024

And signed on behalf of the board by:
Name: E Dewhurst
Status: Director

RAGTAG ARTS C.I.C.

Profit And Loss Account

for the Period Ended 5 April 2024

2024 2023


£

£
Turnover: 220,613 220,511
Cost of sales: ( 102,413 ) ( 118,117 )
Gross profit(or loss): 118,200 102,394
Distribution costs: ( 5,044 ) ( 3,619 )
Administrative expenses: ( 89,957 ) ( 75,031 )
Operating profit(or loss): 23,199 23,744
Profit(or loss) before tax: 23,199 23,744
Tax: ( 4,408 ) ( 4,135 )
Profit(or loss) for the financial year: 18,791 19,609

RAGTAG ARTS C.I.C.

Balance sheet

As at 5 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 12,395 14,168
Total fixed assets: 12,395 14,168
Current assets
Stocks: 4 250 250
Debtors: 5 11,403 4,710
Cash at bank and in hand: 82,439 101,096
Total current assets: 94,092 106,056
Creditors: amounts falling due within one year: 6 ( 29,487 ) ( 61,678 )
Net current assets (liabilities): 64,605 44,378
Total assets less current liabilities: 77,000 58,546
Provision for liabilities: ( 2,355 ) ( 2,692 )
Total net assets (liabilities): 74,645 55,854
Members' funds
Profit and loss account: 74,645 55,854
Total members' funds: 74,645 55,854

The notes form part of these financial statements

RAGTAG ARTS C.I.C.

Balance sheet statements

For the year ending 5 April 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 20 December 2024
and signed on behalf of the board by:

Name: E Dewhurst
Status: Director

The notes form part of these financial statements

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: - the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the economic benefits associated with the transaction will flow to the Company; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Plant and machinery 10% Reducing balance Motor vehicles 33.33% Straight line Furniture, fittings and equipment 10% Straight line

    Valuation information and policy

    Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to income and expenditure account as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade and other creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account 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 profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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 profits 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. Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate 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. Defined contribution pensions The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 9 8

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 6 April 2023 19,236 19,236
Additions
Disposals
Revaluations
Transfers
At 5 April 2024 19,236 19,236
Depreciation
At 6 April 2023 5,068 5,068
Charge for year 1,773 1,773
On disposals
Other adjustments
At 5 April 2024 6,841 6,841
Net book value
At 5 April 2024 12,395 12,395
At 5 April 2023 14,168 14,168

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 2024

4. Stocks

2024 2023
£ £
Stocks 250 250
Total 250 250

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 2024

5. Debtors

2024 2023
£ £
Trade debtors 11,403 2,190
Prepayments and accrued income 0 2,520
Total 11,403 4,710

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 5,007 3,467
Accruals and deferred income 22,480 54,211
Other creditors 2,000 4,000
Total 29,487 61,678

RAGTAG ARTS C.I.C.

Notes to the Financial Statements

for the Period Ended 5 April 2024

7. Loans to directors

Related party disclosures In the year directors Emily Dewhurst and Joshua Simpson received the following amounts from the company: work on a freelance basis £14,925 (2023: £41,575) and £25,546 (2023: £29,588) respectively and Joshua Simpson also received rent for the use of premises of £9,300 (2023: £9,300).

COMMUNITY INTEREST ANNUAL REPORT

RAGTAG ARTS C.I.C.

Company Number: 09663652 (England and Wales)

Year Ending: 5 April 2024

Company activities and impact

Ragtag Arts is a community arts organisation in Kendal with the environment at its heart and a mission to encourage reuse, creativity and play in everything it does. A combined arts centre, we are currently open to the public 4 days a week providing creative workshops, studio spaces, technical workshops, room hire, a crafty cafe and a range of community and partnership events and performances. The Community Scrapstore sits at the core of our organisation: we divert waste from landfill and collaborate with businesses to help them reduce waste and promote reuse. This benefits the whole community by providing affordable creative resources whilst promoting environmental responsibility. Ragtag Arts and Community Scrapstore works to provide a wide range of meaningful opportunities for adults and young people with disabilities, learning difficulties or mental health needs. An outward facing organisation we support our local community through creative partnerships and collaborations: including with community organisations, our local council, cultural events, youth and children’s charities, schools and colleges. We provide high quality playful and innovative schools workshops and resource packages as well as delivering an outreach programme that brings creative opportunities to rurally isolated communities at cultural events and festivals across Cumbria and neighbouring counties. Our priorities: 1. Reuse - to reduce waste, promote environmental responsibility and provide affordable creative resources. 2. Creativity - to deliver high quality arts activities and experiences that are accessible to all: inspiring minds, delighting imaginations and nurturing creativity. 3. Play - To value the artist within each of us using play as a vehicle for creativity. To provide fun, meaningful and life enriching opportunities for all improving health and wellbeing.

Consultation with stakeholders

Our Directors - Emily Dewhurst, Joshua Simpson, Emma Robertson, Andrew Sainsbury and Miriam Sawyer. We have an Advisory Group who meets quarterly with our directors. We have 200 members who access the Scrapstore. These members and our wider community our invited to our annual AGM.

Directors' remuneration

Joshua Simpson was paid £25,546 on a freelance basis Emily Dewhurst was paid £14,925 on a freelance basis

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
4 December 2024

And signed on behalf of the board by:
Name: Emily Dewhurst
Status: Director