THE OPEN ART CLUB CIC

Company limited by guarantee

Company Registration Number:
14624147 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 30 January 2023

End date: 31 January 2024

THE OPEN ART CLUB CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

THE OPEN ART CLUB CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024


£
Turnover: 780
Cost of sales: ( 1,240 )
Gross profit(or loss): (460)
Administrative expenses: ( 11,855 )
Other operating income: 12,695
Operating profit(or loss): 380
Profit(or loss) before tax: 380
Tax: ( 72 )
Profit(or loss) for the financial year: 308

THE OPEN ART CLUB CIC

Balance sheet

As at 31 January 2024

Notes 2024


£
Current assets
Cash at bank and in hand: 3,085
Total current assets: 3,085
Creditors: amounts falling due within one year: 3 ( 2,777 )
Net current assets (liabilities): 308
Total assets less current liabilities: 308
Total net assets (liabilities): 308
Members' funds
Profit and loss account: 308
Total members' funds: 308

The notes form part of these financial statements

THE OPEN ART CLUB CIC

Balance sheet statements

For the year ending 31 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 29 January 2025
and signed on behalf of the board by:

Name: Noga Shatz
Status: Director

The notes form part of these financial statements

THE OPEN ART CLUB CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

THE OPEN ART CLUB CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024
    Average number of employees during the period 0

THE OPEN ART CLUB CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Creditors: amounts falling due within one year note

2024
£
Taxation and social security 72
Accruals and deferred income 400
Other creditors 2,305
Total 2,777

COMMUNITY INTEREST ANNUAL REPORT

THE OPEN ART CLUB CIC

Company Number: 14624147 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The Open Art Club is a social organization. We provide; 1. Employment to LGBTQ+ artists in East London. 2. A fully funded 12 week art-program which includes paid tickets to exhibitions, professional art-materials, an to highly professional artists and tutors. 3. Mentoring and paid work-experience to LGBTQ+ creative young-adults. From 30th of January 2023 we have developed and delivered 14 months art program- running weekly on Tuesdays 11-2pm which was fully funded. The program included creative workshops delivered by contemporary artists from East London, Guided art tours in several museums across London, paid tickets to highlight exhibitions, and personal high quality painting kits which included professional paints, brushes, painting pads, bags and more. The participant group included 30 people from Newham, Walthamstow, Leyton. We also printed and sent with this form our impact reports who are based on our detailed feedback form filled by our beneficiaries, workshops facilitators and mentors.

Consultation with stakeholders

The Open Art Club has worked with freelance local artists and local creative venues including; The Leyton Green Gallery-Arbeit Studios, London LGBTQ+ Community Centre, Drag Syndrom, Culture Device, and East Bank Seniors. Lifted from our feedback forms we include here one feedback from a creative workshop facilitator and some feedback from one of our group beneficiaries; ’I was really impressed by the whole project, friendly and professional throughout, it was an absolute pleasure to work with you. I think it’s important to offer free Art classes and a space for the local community. It is obvious how needed this is by how popular the classes are and by how many people attended on the day. The group were enthusiastic and engaged.’’ Adam Hennesey, Artist and workshop facilitator '’This art-program gave me more than I could ever have expected! In my personal life, it had such a huge positive impact. It gave me the real chance to reconnect with people in my community, finding new friends with the same passion for Art! I've learned so much with all the teachers and colleagues too. I Love Art but I've never painted or drawn before! learning new skills as well as the fantastic visits to museums gave me the light I strongly needed to awaken my own creativity.’’ Carla- Participant in the first round of the program

Directors' remuneration

I’m the first director of the company. The second director Dr Lee Weinberg who has so far served as a counsellor giving me advice from time to time but wasn’t directly involved in developing and running the art-program. This is going to change with her planning to become more active in running the company in the near future. As directors- none of us got paid But for transparency, I would like to add that as the person who is leading and developing this enterprise so far I have been paid as a freelancer for doing the program development, writing, partnerships building and coordination of events. I was also paid for my part in the program delivery, my part as one of 4 artist mentors, my part as a workshop facilitator, and my part as the exhibition curator - installation and the uninstall of our end of project exhibition that was held in December 2023 at arbeit-studios. This all reflected in the account balance attached with this form.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
29 January 2025

And signed on behalf of the board by:
Name: Noga Shatz
Status: Director