CROW HOUSE PROJECTS CIC

Company limited by guarantee

Company Registration Number:
SC770662 (Scotland)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 25 May 2023

End date: 31 May 2024

CROW HOUSE PROJECTS CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

CROW HOUSE PROJECTS CIC

Balance sheet

As at 31 May 2024

Notes 2024


£
Fixed assets
Intangible assets:   0
Tangible assets: 3 743
Total fixed assets: 743
Current assets
Cash at bank and in hand: 7,025
Total current assets: 7,025
Creditors: amounts falling due within one year: 4 ( 7,768 )
Net current assets (liabilities): (743)
Total assets less current liabilities: 0
Total net assets (liabilities): 0
Members' funds
Profit and loss account: 0
Total members' funds: 0

The notes form part of these financial statements

CROW HOUSE PROJECTS CIC

Balance sheet statements

For the year ending 31 May 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 19 February 2025
and signed on behalf of the board by:

Name: Jamie Gordon McDonald
Status: Director

The notes form part of these financial statements

CROW HOUSE PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 May 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

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows: Plant and machinery etc. 5 years straight line Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

    Intangible fixed assets amortisation policy

    Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows: Other intangible assets 1 years straight line Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

    Other accounting policies

    Impairment of assets Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below. Non-financial assets At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Financial assets An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date. Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year. Financial instruments Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

CROW HOUSE PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024
    Average number of employees during the period 3

CROW HOUSE PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 756 756
Disposals
Revaluations
Transfers
At 31 May 2024 756 756
Depreciation
Charge for year 13 13
On disposals
Other adjustments
At 31 May 2024 13 13
Net book value
At 31 May 2024 743 743

CROW HOUSE PROJECTS CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due within one year note

2024
£
Trade creditors 500
Other creditors 7,268
Total 7,768

COMMUNITY INTEREST ANNUAL REPORT

CROW HOUSE PROJECTS CIC

Company Number: SC770662 (Scotland)

Year Ending: 31 May 2024

Company activities and impact

Crow House Projects is a Community Interest Company dedicated to supporting and growing the filmmaking community in Aberdeen and the North-East of Scotland. Over the financial year ending 31st May, the company has been actively engaged in developing local creative talent through hands-on learning opportunities, networking events, and practical film production experience. A key initiative during this period was the launch of the Film Accelerator Programme, a structured learning and production experience designed to give emerging filmmakers direct, practical experience in the industry. BY the end of May, we had successfully delivered six formal workshop sessions, hosted at Aberdeen Arts Centre, covering key aspects of film production. These sessions provided participants with mentorship from industry professionals and the opportunity to develop their technical and creative skills. In early May, we completed the first on-set production as part of the Film Accelerator Programme, giving participants the chance to work on a live film shoot. This experience allowed local filmmakers to apply their learning in a professional setting, helping to build their confidence, networks, and industry-relevant skills. Beyond structured training, Crow House Projects also worked to strengthen the local creative community by hosting an Open Night in February. This event attracted 120 local creatives, offering them the opportunity to learn about upcoming filmmaking opportunities, network with peers, and connect with industry professionals. By providing a space for collaboration and knowledge-sharing, this event helped foster a stronger, more connected film community in the region. Through these activities, Crow House Projects has continued to fulfil its mission of empowering local filmmakers, expanding access to practical industry training, and supporting the development of a sustainable creative ecosystem in the North-East of Scotland.

Consultation with stakeholders

Crow House Projects engages with a range of stakeholders, including local filmmakers, creative professionals, arts organizations, and aspiring content creators in Aberdeen and the North-East of Scotland. Our primary stakeholders are those who benefit from our training Programmes, networking events, and film production opportunities. During this financial year, we actively consulted with our stakeholders through an Open Night held in February, which was attended by 120 local creatives. This event provided a platform for attendees to share their thoughts on what support they needed to further develop their careers in filmmaking. Through direct discussions and informal feedback, we learned that there was a strong demand for: - More creative networking opportunities to help filmmakers and creatives collaborate. - Opportunities to work on film productions with Crow House Projects to gain hands-on experience. In response to this feedback, we have acted by: - Expanding our networking efforts, with plans to host additional creative networking nights to foster collaboration within the community. - Providing more practical production experience, as demonstrated through the Film Accelerator Programme, where participants received on-set training and direct involvement in a professional film shoot. Through engagement with our stakeholders, Crow House Projects aims to ensure that our activities remain aligned with the needs of the local creative community, supporting sustainable growth and professional development within the sector.

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
19 February 2025

And signed on behalf of the board by:
Name: JAMIE MCDONALD
Status: Director