1520 STUDIOS CIC

Company limited by guarantee

Company Registration Number:
13026130 (England and Wales)

Unaudited statutory accounts for the year ended 28 November 2023

Period of accounts

Start date: 1 December 2022

End date: 28 November 2023

1520 STUDIOS CIC

Contents of the Financial Statements

for the Period Ended 28 November 2023

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

1520 STUDIOS CIC

Directors' report period ended 28 November 2023

The directors present their report with the financial statements of the company for the period ended 28 November 2023

Principal activities of the company

The company's principal activity during the year continued to be video production



Directors

The directors shown below have held office during the whole of the period from
1 December 2022 to 28 November 2023

James Eddisford
Joshua Samuel, Fenton-Thomas


The director shown below has held office during the period of
1 December 2022 to 1 March 2023

Kiana Miles


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
26 December 2024

And signed on behalf of the board by:
Name: James Eddisford
Status: Director

1520 STUDIOS CIC

Profit And Loss Account

for the Period Ended 28 November 2023

2023 2022


£

£
Turnover: 80,941 72,629
Cost of sales: ( 18,498 ) ( 12,557 )
Gross profit(or loss): 62,443 60,072
Distribution costs: 0 0
Administrative expenses: ( 77,530 ) ( 92,000 )
Other operating income: 16,793 28,440
Operating profit(or loss): 1,706 (3,488)
Interest receivable and similar income: 0 0
Interest payable and similar charges: ( 1,007 ) 0
Profit(or loss) before tax: 699 (3,488)
Tax: 0 0
Profit(or loss) for the financial year: 699 (3,488)

1520 STUDIOS CIC

Balance sheet

As at 28 November 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,717 2,146
Investments:   0 0
Total fixed assets: 1,717 2,146
Current assets
Stocks:   0 0
Debtors: 4 108 0
Cash at bank and in hand: 463 15,707
Investments:   0 0
Total current assets: 571 15,707
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 10,779 ) ( 27,043 )
Net current assets (liabilities): (10,208) (11,336)
Total assets less current liabilities: (8,491) ( 9,190)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0
Total net assets (liabilities): (8,491) (9,190)
Members' funds
Profit and loss account: (8,491) ( 9,190)
Total members' funds: ( 8,491) (9,190)

The notes form part of these financial statements

1520 STUDIOS CIC

Balance sheet statements

For the year ending 28 November 2023 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 27 December 2024
and signed on behalf of the board by:

Name: James Eddisford
Status: Director

The notes form part of these financial statements

1520 STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 November 2023

  • 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.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

1520 STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 3

1520 STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 November 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2022 3,092 3,092
Additions
Disposals
Revaluations
Transfers
At 28 November 2023 3,092 3,092
Depreciation
At 1 December 2022 946 946
Charge for year 429 429
On disposals
Other adjustments
At 28 November 2023 1,375 1,375
Net book value
At 28 November 2023 1,717 1,717
At 30 November 2022 2,146 2,146

1520 STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 November 2023

4. Debtors

2023 2022
£ £
Trade debtors 0 0
Prepayments and accrued income 0 0
Other debtors 108 0
Total 108 0
Debtors due after more than one year: 0 0

1520 STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 28 November 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 1,192 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 982 687
Accruals and deferred income 0 15,000
Other creditors 8,605 11,356
Total 10,779 27,043

COMMUNITY INTEREST ANNUAL REPORT

1520 STUDIOS CIC

Company Number: 13026130 (England and Wales)

Year Ending: 28 November 2023

Company activities and impact

We are 1520 studios, a Community Interest Company that was founded in November 2020. A space in central Manchester that was created to serve and support the local creative community and give local residents access to film, photography and editing equipment. We were founded to empower, support and encourage the creative community of Manchester by offering affordable studio and desk space, providing local residents and organisations with a space to run workshops and events, and offering training in our film studio, recording studio and editing suite to local residents who wouldn’t otherwise have access. Our mission, to empower and encourage Manchester’ creative community, while also supporting local residents, has informed everything we have done since then. As we have grown as an organisation so has our family of artists and creatives and with it our ability to support and uplift these communities. We have received funding from supportive organisations and funding bodies along the way which has allowed us to deliver projects and programmes directly focused on the communities we serve. We hope to continue growing as an organisation and to continue uplifting, supporting and empowering the people of Manchester by helping them reach their creative

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

Director salary amount can be found on the profit or loss of company accounts

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: James Eddisford
Status: Director