THE CRAFTY MAKERY CIC

Company limited by guarantee

Company Registration Number:
12428133 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

THE CRAFTY MAKERY CIC

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

THE CRAFTY MAKERY CIC

Directors' report period ended 31 January 2024

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

Directors

The directors shown below have held office during the whole of the period from
1 February 2023 to 31 January 2024

L Ralls
E Clark
S Cooke
P Crawshaw
D Morris


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
30 January 2025

And signed on behalf of the board by:
Name: L Ralls
Status: Director

THE CRAFTY MAKERY CIC

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 27,559 40,965
Cost of sales: ( 12,314 ) ( 10,343 )
Gross profit(or loss): 15,245 30,622
Administrative expenses: ( 13,703 ) ( 35,832 )
Operating profit(or loss): 1,542 (5,210)
Interest payable and similar charges: ( 311 ) ( 253 )
Profit(or loss) before tax: 1,231 (5,463)
Tax: ( 472 )
Profit(or loss) for the financial year: 759 (5,463)

THE CRAFTY MAKERY CIC

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 2,033 3,278
Total fixed assets: 2,033 3,278
Current assets
Stocks: 4 6,648 5,618
Debtors: 5 1,594 1,535
Cash at bank and in hand: 9,066 5,618
Total current assets: 17,308 12,771
Creditors: amounts falling due within one year: 6 ( 3,783 ) ( 1,250 )
Net current assets (liabilities): 13,525 11,521
Total assets less current liabilities: 15,558 14,799
Total net assets (liabilities): 15,558 14,799
Members' funds
Profit and loss account: 15,558 14,799
Total members' funds: 15,558 14,799

The notes form part of these financial statements

THE CRAFTY MAKERY 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 30 January 2025
and signed on behalf of the board by:

Name: L Ralls
Status: Director

The notes form part of these financial statements

THE CRAFTY MAKERY 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 Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover 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 is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible Fixed Assets and Depreciation Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery - 10 years Fixtures & Fittings - 3 years Computer Equipment - 3 years

    Other accounting policies

    Taxation Corporation tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income 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.

THE CRAFTY MAKERY CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

THE CRAFTY MAKERY CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2023 2,002 3,600 2,144 7,746
Additions 0 200 354 554
Disposals
Revaluations
Transfers
At 31 January 2024 2,002 3,800 2,498 8,300
Depreciation
At 1 February 2023 600 2,404 1,464 4,468
Charge for year 201 1,080 518 1,799
On disposals
Other adjustments
At 31 January 2024 801 3,484 1,982 6,267
Net book value
At 31 January 2024 1,201 316 516 2,033
At 31 January 2023 1,402 1,196 680 3,278

THE CRAFTY MAKERY CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Stocks

2024 2023
£ £
Stocks 6,648 5,618
Total 6,648 5,618

THE CRAFTY MAKERY CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Debtors

2024 2023
£ £
Prepayments and accrued income 837 869
Other debtors 757 666
Total 1,594 1,535

THE CRAFTY MAKERY CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 57 1
Trade creditors 0 247
Taxation and social security 696 0
Accruals and deferred income 219 30
Other creditors 2,811 972
Total 3,783 1,250

COMMUNITY INTEREST ANNUAL REPORT

THE CRAFTY MAKERY CIC

Company Number: 12428133 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

The Crafty Makery CIC is a Not-for-Profit Community Hub which has continued to expand its services during this financial year. With the resignation of the executive director and on-boarding four new directors, the first six months were spent getting everyone up to speed on all the progress this business has made overall. As the business gets more popular and its services recommended by word of mouth, our community is still providing us with a wealth of non-monetary donations. We recycle these donations into a range of everyday household products e.g. Cushions/covers, tote bags, aprons, etc. Through these donations we have made links with a local primary school and a Women’s refuge to pass on some of the donations we are unable to use. With the Cost of Living Crisis our Alterations service has been very popular within the Fareham community and continues to grow. Our group of vulnerable and elderly residents are still meeting up in the shop and continue to support each other, together with new people who are referred to us. Which they love doing as their contribution to our community. Fareham Borough Council still continue to support us financially but also keep us notified of events they are running in and around the borough so we can organise activities to raise awareness and advertise our name in the community. Thumbs-up day went ahead with children’s activities based around card, paper and pens to keep them amused between events. Christmas light Switch-on – unfortunately the weather was very wet in the morning so we displayed our xmas kits and decorations from within the shop. Ceramic painting is a very popular craft for all ages and provides an escape for many of our customers, who often comment on how relaxing and rewarding it is. This activity definitely improves our customers well-being which they keep telling us, pure escapism. T-shirt and bag printing has increased over the year and it has become very popular with all ages, with older children and adults often designing their own artwork. Our 1:1 lessons continue to be popular, mainly crochet, knitting and getting to know your sewing machine. We are looking at designing projects for children to complete in 1 session during our school holiday activities. Poppy Appeal – In 2023 we had donations from our community of knitted and crocheted poppies and turned them into wreaths which were very popular and we raised £200 for the Royal British Legion. We also raised £50 to go towards the maintenance of a local defibrillator in a nearby independent living facility. We raised money for the business through an Easter lucky dip which was supported by our customers and it was an enjoyable event. Through Home Instead and the Gift for Xmas scheme we helped wrap about 200 donated gifts for the elderly around the borough. We teamed up with Zurich Pensioners Association to wrap 130+ boxes of mint chocolates to be distributed to their over 80s. With the help of local shops, businesses and individual donations we ran an excellent Xmas tombola. This raised £150 to start up the outreach programme to visit local facilities to enable those who can’t travel to also enjoy crafting. We applied and were awarded £200 from our local councillor so we could trial gift vouchers to be given out by our local CAB to children from less fortunate families so they could come in and enjoy the well-being that crafting can create. This is ongoing into next financial year. In this financial year we celebrated our 3rd Birthday with a party and a visit from mayor to cut the cake. So we could celebrate as many customers as possible we extended the event over the week! Kingsgate School– An Independent Family Run Special Needs School, accepts children/teenagers, with an EHCP, from local families, foster families, and Children’s homes. We still continue our relationship with this school with supervised projects which last for 5-6 weeks with about 4 students and support staff. Jubilee School – this school still offers our crafting facility as a weekly reward to those who deserve it. We also have a group on a half termly rotation that are trialling planned project based activities for students on personalised timetables. Hopefully this will continue now Shane is on the staff at this school. School Holiday Activities – our amazing volunteers continue to design and organise a whole range of low cost crafting activities for every school holiday this year. Over the year we have made links to several Assisted Living and Care Home facilities. We have several people who come in independently to use our facilities others attend with carers to help them enjoy the activities. This, hopefully, will continue long term as several new people have started using the shop. We have continued to pay a small stipend to our shop director, with 3 directors still volunteering in the shop with 19 other volunteers, each working between 7 and 24 hours a week. As we have developed and most of our volunteers are on a fixed income of some description we are now able to pay travel expenses, either bus fares or parking costs. Fareham Borough Council purchased the shopping centre towards the end of 2023 and out of the blue we received an email from one of the letting agents to see if we would be interested in a larger unit, what a Christmas present. Through the shopping centre management myself and the other directors went to look at about 7 units within the centre and the final paperwork was going through at the end of our financial year.

Consultation with stakeholders

Our stakeholders are the service users and some of these are people who work in local businesses. We were approached by several businesses to see if they could paint ceramics for their Xmas parties. Also we were asked if painting ceramics could be used for a team building exercise for a new team which had been set up within a large business. Each company who participated felt the event was successful especially when organising team building as it was a non threatening environment and was off site.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by directors in respect of qualifying services was £4,000 in the form of stipend payment. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

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

And signed on behalf of the board by:
Name: L Ralls
Status: Director