URBAN HAX CIC

Company limited by guarantee

Company Registration Number:
09040100 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

URBAN HAX CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

URBAN HAX CIC

Directors' report period ended 31 May 2024

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

Directors

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

R Foster
G Henderson
D S Ward


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
18 February 2025

And signed on behalf of the board by:
Name: D S Ward
Status: Director

URBAN HAX CIC

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 102,526 87,185
Cost of sales: ( 28,097 ) ( 30,354 )
Gross profit(or loss): 74,429 56,831
Administrative expenses: ( 81,683 ) ( 56,333 )
Operating profit(or loss): (7,254) 498
Interest payable and similar charges: ( 175 ) ( 607 )
Profit(or loss) before tax: (7,429) (109)
Profit(or loss) for the financial year: (7,429) (109)

URBAN HAX CIC

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 14,196 5,250
Total fixed assets: 14,196 5,250
Current assets
Stocks: 4 9,000 9,000
Debtors: 5 1,911 464
Cash at bank and in hand: 34,367 4,655
Total current assets: 45,278 14,119
Creditors: amounts falling due within one year: 6 ( 62,151 ) ( 10,561 )
Net current assets (liabilities): (16,873) 3,558
Total assets less current liabilities: (2,677) 8,808
Creditors: amounts falling due after more than one year: 7 ( 4,048 ) ( 8,104 )
Total net assets (liabilities): (6,725) 704
Members' funds
Profit and loss account: (6,725) 704
Total members' funds: ( 6,725) 704

The notes form part of these financial statements

URBAN HAX 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.

This report was approved by the board of directors on 18 February 2025
and signed on behalf of the board by:

Name: D S Ward
Status: Director

The notes form part of these financial statements

URBAN HAX 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

    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 25% Straight Line Motor vehicles 25% 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.

URBAN HAX CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 1

URBAN HAX 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 £ £ £ £ £ £
At 1 June 2023 14,244 0 14,244
Additions 15,994 15,994
Disposals
Revaluations
Transfers
At 31 May 2024 14,244 15,994 30,238
Depreciation
At 1 June 2023 8,994 0 8,994
Charge for year 3,050 3,998 7,048
On disposals
Other adjustments
At 31 May 2024 12,044 3,998 16,042
Net book value
At 31 May 2024 2,200 11,996 14,196
At 31 May 2023 5,250 0 5,250

URBAN HAX CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Stocks

2024 2023
£ £
Stocks 9,000 9,000
Total 9,000 9,000

URBAN HAX CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Debtors

2024 2023
£ £
Trade debtors 370 0
Other debtors 1,541 464
Total 1,911 464

URBAN HAX CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 2,025 0
Trade creditors 49,611 0
Taxation and social security 3,740 49
Other creditors 6,775 10,512
Total 62,151 10,561

URBAN HAX CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 4,048 8,104
Total 4,048 8,104

COMMUNITY INTEREST ANNUAL REPORT

URBAN HAX CIC

Company Number: 09040100 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

Urban Hax CIC operates and facilitates open access community workshops for local residents of the Black Country and wider regions to access tools, equipment, training from industry experts and technology that is not readily available in the public domain. Our mission is to support skills development and entrepreneurship within the creative industries amongst various stakeholders. During the 2023-2024 financial year, the company activities benefitted the community in the following ways: Enhancing digital and creative access through public making facilities, collaborative projects and community workshops. Supporting 30 local businesses and entrepreneurs through providing workspace and business mentorship allowing participants to experiment with digital fabrication and build portfolios. Improving sustainability and empowering a circular economy through championing our tool library and tool hire service as well as promoting open-source and repair culture.

Consultation with stakeholders

The companies has actively engaged with a diverse range of stakeholders to shape its initiatives and ensure it's services align with community needs. Our consultations have included local artists and creatives, who provided input to our 3D printer loan scheme; small businesses and entrepreneurs, who have helped refine our co-working space and business support offer and public/third sector organisations, including local councils and education providers who have informed our research into the needs of communities at the hyper local level and how access to making facilities could benefit their communities.

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £13,667 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
18 February 2025

And signed on behalf of the board by:
Name: Deta Ward
Status: Director