IN TRANSIT SPACE CIC

Company limited by guarantee

Company Registration Number:
14421882 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2024

Period of accounts

Start date: 1 November 2023

End date: 31 October 2024

IN TRANSIT SPACE CIC

Contents of the Financial Statements

for the Period Ended 31 October 2024

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

IN TRANSIT SPACE CIC

Directors' report period ended 31 October 2024

The directors present their report with the financial statements of the company for the period ended 31 October 2024

Principal activities of the company

The company's principal activity during the period was that of artistic creation and operation of arts facilities.



Directors

The director shown below has held office during the whole of the period from
1 November 2023 to 31 October 2024

Celina Poh Lin Loh


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
7 January 2025

And signed on behalf of the board by:
Name: Celina Poh Lin Loh
Status: Director

IN TRANSIT SPACE CIC

Profit And Loss Account

for the Period Ended 31 October 2024

2024 2023


£

£
Turnover: 5,460 3,929
Cost of sales: ( 9,924 ) ( 3,041 )
Gross profit(or loss): (4,464) 888
Distribution costs: 0 0
Administrative expenses: ( 3,338 ) ( 2,167 )
Other operating income: 9,951 0
Operating profit(or loss): 2,149 (1,279)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 2,149 (1,279)
Tax: ( 125 ) 0
Profit(or loss) for the financial year: 2,024 (1,279)

IN TRANSIT SPACE CIC

Balance sheet

As at 31 October 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 209 0
Investments:   0 0
Total fixed assets: 209 0
Current assets
Stocks:   0 0
Debtors: 4 0 35
Cash at bank and in hand: 4,033 1,801
Investments:   0 0
Total current assets: 4,033 1,836
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 3,497 ) ( 3,115 )
Net current assets (liabilities): 536 (1,279)
Total assets less current liabilities: 745 ( 1,279)
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 745 (1,279)
Members' funds
Profit and loss account: 745 ( 1,279)
Total members' funds: 745 (1,279)

The notes form part of these financial statements

IN TRANSIT SPACE CIC

Balance sheet statements

For the year ending 31 October 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 7 January 2025
and signed on behalf of the board by:

Name: Celina Poh Lin Loh
Status: Director

The notes form part of these financial statements

IN TRANSIT SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 October 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, 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: Plant and machinery - 20% reducing balance

    Other accounting policies

    Debtors 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. Creditors 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. 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 is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions 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.

IN TRANSIT SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

IN TRANSIT SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2023 0 0
Additions 261 261
Disposals 0 0
Revaluations 0 0
Transfers 0 0
At 31 October 2024 261 261
Depreciation
At 1 November 2023 0 0
Charge for year 52 52
On disposals 0 0
Other adjustments 0 0
At 31 October 2024 52 52
Net book value
At 31 October 2024 209 209
At 31 October 2023 0 0

IN TRANSIT SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

4. Debtors

2024 2023
£ £
Trade debtors 0 35
Total 0 35

IN TRANSIT SPACE CIC

Notes to the Financial Statements

for the Period Ended 31 October 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 125 0
Other creditors 3,372 3,115
Total 3,497 3,115

COMMUNITY INTEREST ANNUAL REPORT

IN TRANSIT SPACE CIC

Company Number: 14421882 (England and Wales)

Year Ending: 31 October 2024

Company activities and impact

During the financial year ending October 2024, In Transit’s key activities focused on improving access to the arts, supporting artists and organisations to make their work more accessible Primary activities and key impacts include Online Residency Programme Supported four artists from the UK and Malaysia through the Creative Access in New Media Arts programme in collaboration with Filamen, funded by the British Council’s Connections Through Culture Grant. This programme featured a month of intensive access training. Three months of 1-1 sessions, group critiques, and dedicated time for artistic development. Culminated in an online exhibition, as well as in-person exhibitions at Saan1, Manchester, and Kedai KL, Malaysia. Impact Enabled greater representation of disabled and neurodivergent communities in the arts by fostering accessible practices among participating artists. Strengthened cross-cultural connections between the UK and Malaysia, promoting inclusion and mutual understanding. Created accessible exhibition opportunities that reached diverse audiences In The Crit Lab Series – Artist Crit Sessions Provided a platform for artists to share their works-in-progress and receive constructive feedback to refine their work and embed access as a creative layer of their practice. Impact Participating artists reported increased confidence, valuable feedback and practical skills for enhancing the accessibility of their work. Access Training Workshops and Consultation Delivered various access training to clients, which built awareness and understanding of accessibility among working teams. Equipped them with practical tools and knowledge to create more inclusive working practices and collaboration, contributing to long-term improvements in access. Workshop Support Supported artist Alison Lam in coordinating workshops tailored for neurodivergent individuals in Manchester, UK as part of her project Mind the Gap. This enhanced opportunities for neurodivergent individuals to engage with art-making in a supportive and inclusive environment. Exhibitions Hosted Cura, In Transit’s first in-venue exhibition, at Smolensky Gallery. This project was funded through Director Celina Loh’s DYCP grant from Arts Council England. Presented Continuum, an exhibition held in Manchester and Kedai KL, Malaysia, showcasing works that emerged from the Online Residency Programme. This demonstrated how access can be an artistic and creative opportunity rather than policy framework.

Consultation with stakeholders

In Transit engages with a diverse range of stakeholders, including artists (both disabled and non-disabled), curators, art professionals, course tutors, art audiences, partner organisations and collaborators, as well as Arts Council England and the British Council. Methods We actively seek feedback through: Feedback forms distributed during and after courses, workshops, and exhibitions. One-to-one sessions with stakeholders to gather tailored insights. Emails and informal correspondence. Evaluation sessions following programmes and events. Actions Taken in Response to Feedback Course Adjustments Feedback from stakeholders indicated that our Removing Barriers course might be overwhelming for neurodivergent individuals due to its structure. In response, we are simplifying the course and breaking it down into smaller, more digestible sections. We are also reassessing how our workshops are delivered to make them more accommodating for a range of learning styles and needs. Expanding Accessibility and Affordability Based on feedback, we are introducing membership schemes and affordable options for our courses to make them more accessible to a wider audience. New Course Development Stakeholders expressed interest in a more approachable introduction to accessibility. In response, we are developing a new Creative Access course (working title) that focuses not only on practical tools but also on how to begin thinking about embedding creative access into practices if you are new to the concept. Through ongoing consultation and adaptation, In Transit ensures that our activities remain relevant, inclusive, and impactful for all 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
7 January 2025

And signed on behalf of the board by:
Name: Celina Poh Lin Loh
Status: Director