MAKE SPACE OXFORD C.I.C.

Company limited by guarantee

Company Registration Number:
09637247 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

MAKE SPACE OXFORD C.I.C.

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

MAKE SPACE OXFORD C.I.C.

Profit And Loss Account

for the Period Ended 30 June 2024

2024 2023


£

£
Turnover: 451,969 879,710
Gross profit(or loss): 451,969 879,710
Administrative expenses: ( 703,905 ) ( 1,087,154 )
Other operating income: 247,259 195,255
Operating profit(or loss): (4,677) (12,189)
Profit(or loss) before tax: (4,677) (12,189)
Profit(or loss) for the financial year: (4,677) (12,189)

MAKE SPACE OXFORD C.I.C.

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 27,366 24,906
Total fixed assets: 27,366 24,906
Current assets
Debtors: 4 45,546 95,484
Cash at bank and in hand: 77,606 76,242
Total current assets: 123,152 171,726
Creditors: amounts falling due within one year: 5 ( 129,302 ) ( 170,739 )
Net current assets (liabilities): (6,150) 987
Total assets less current liabilities: 21,216 25,893
Total net assets (liabilities): 21,216 25,893
Members' funds
Profit and loss account: 21,216 25,893
Total members' funds: 21,216 25,893

The notes form part of these financial statements

MAKE SPACE OXFORD C.I.C.

Balance sheet statements

For the year ending 30 June 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 12 March 2025
and signed on behalf of the board by:

Name: Andrew Edwards
Status: Director

The notes form part of these financial statements

MAKE SPACE OXFORD C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 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 assets are included at cost less depreciation and impairment.

MAKE SPACE OXFORD C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 14 13

MAKE SPACE OXFORD C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 88,790 88,790
Additions 17,191 17,191
Disposals
Revaluations
Transfers
At 30 June 2024 105,981 105,981
Depreciation
At 1 July 2023 63,884 63,884
Charge for year 14,731 14,731
On disposals
Other adjustments
At 30 June 2024 78,615 78,615
Net book value
At 30 June 2024 27,366 27,366
At 30 June 2023 24,906 24,906

MAKE SPACE OXFORD C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Debtors

2024 2023
£ £
Trade debtors 41,431 38,283
Prepayments and accrued income 4,115 2,697
Other debtors 54,504
Total 45,546 95,484

MAKE SPACE OXFORD C.I.C.

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 40,000
Trade creditors 13,154 9,077
Taxation and social security 11,927 7,665
Accruals and deferred income 67,016 76,922
Other creditors 37,205 37,075
Total 129,302 170,739

COMMUNITY INTEREST ANNUAL REPORT

MAKE SPACE OXFORD C.I.C.

Company Number: 09637247 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

During the year Makespace continued to work in communities across Oxfordshire, driven by the mission to empower groups to shape their environments, access resources, and influence decisions impacting their lives. We provided affordable work and organising space for over 100 charities, workers' cooperatives, CICs and community organisations each delivering a social and environmental benefit. Residents comprised not-for-profit organisations (43%), arts/creative organisations (29%), businesses with social purposes (21%) and therapeutic practitioners (7%), operating mainly from our eight community hub spaces (all formerly vacant buildings): Aristotle House, Oxford: our first building was leased for a further 5 years, allowing the continued support of over 25 residents ranging from artists, makers, a pottery collective, music studios, youth projects, and environmental organisations CAG Oxfordshire, Share Oxford and Good Food Oxfordshire. We celebrated our fifth birthday in this space with residents from across our community spaces. The Charter Studios, Abingdon, houses a number of creative and therapeutic businesses, including Taiwil Fashion, Mental Health Natters, Evoke Belonging and is home to the South Abingdon Arts and Culture Project. The Community Works & Makespace Central, Oxford: residents include Lula’s Ethiopian Cuisine (the first global majority female-led licenced restaurant in Oxford), Oxford Poetry Library and WINGS (supporting period poverty). The building hosts exhibitions and has a hire space used by the wider community including campaign groups, creative sessions, youth cohesion groups and a regular bike repair workshop. The Old Stables, Wantage, provides affordable space to a variety of businesses, artists and makers, anchored by the Down to Earth community cafe, which offers warm space, community meals and social inclusion projects. The Source, Oxford, provides space to global majority-led organisations and those working to fight racial injustice including Mothers 4 Justice, Iraqi Women of Art and War and Jacari (supporting refugee, asylum-seeking and migrant communities). Station Road Studios and The Junction, Didcot, supports artists, education organisations and community groups to work and meet together, including Style Acre, working with people with learning disabilities, South Oxford Muslim Association, King's Church and a number of creative groups and artists. We continue to lease a number of single-occupancy spaces in Faringdon, Bicester, Banbury, and Oxford supporting groups with space delivering core services, including Oxfordshire Youth, Bicester Green, Tribe Zero Waste and Space Store. All residents have benefited from affordable rents, set at 40-80% of the local market rate. This has enabled each organisation, many of whom had been priced out of Oxford and surrounding market towns across Oxfordshire, a secure space in which to operate and grow. As well as affordable space, many organisations join the community to participate in the culture of mutual support, solidarity and collaboration enabled by Makespace. Impacts reported by residents (in a 2023 survey) include increased networking (80%), financial growth (40%), and team capacity (40%) due to the support Makespace provided. Former residents Gulp Fiction, Ducky Zebra, You Underwear and New Grounds Coffee CIC, who all began as startups with Makespace, are now thriving independent social businesses. We delivered the Abingdon Arts and Culture Project, funded by the South Oxfordshire Shared Prosperity Fund, reaching 1,600 people and hosting 80 workshops in 2023/24. Further sprin-off creative initiatives in Abingdon saw delivery of an Easter holiday pop-up intervention and a pavement play project. During the year we were engaged as delivery consultants for the government's Community Ownership Fund (CoF), which included supporting Good Shepherd Studios and We Flock CIC in Waltham Forest, Oxford Community Action Group, and the Leys Community Coalition. We continue to sit on the Owned by Oxford Steering Group. In 2023 Makespace won a bid to create a new community space as part of the regeneration of the former cinema site on George Street, Oxford. During the year we worked with Jan Kattein Architects and recruited a Community Advisory Board to engage the community and begin informing the design and use of the space. We shared our EEDI commitments, working to deepen our connection with our communities and remaking our commitment to equality, equity, diversity and inclusion in five important aspects of Makespace Oxford’s work: dismantling institutional and structural racism, confronting social inequality, championing gender and sexuality equality, upending ableism and widening accessibility, and meeting the ecological crisis. We published an interim impact report for our largest project to date, Meanwhile in Oxfordshire, highlighting the key achievements to date: reanimation of 28 buildings; 3344 square metres of space brought back into use; 103 different organizations supported into space. The monitoring of this program continues through until March 2025. As part of this work we presented at the Festival of Place, having been shortlisted for the Pineapple Awards. During the year we began a strategic refounding process, including the development of a new Theory of Change, guiding principles, and the establishment of a new Community Benefit Society (Makespace Oxfordshire). This new model will ensure a suitable governance structure for Makespace as we move into the future.

Consultation with stakeholders

There are four key stakeholder groups for Makespace Oxford: 1. Our residents: Social enterprises, community businesses, charities, co-operatives, voluntary community groups and makers who occupy our buildings. These stakeholders are involved in the ongoing development of the project and the building via a fortnightly community meeting, regular consultations on proposed changes and improvements. 2. Local community: Makespace works hard to engage local residents living around our buildings, attending local residents’ meetings, engaging local councillors and developing plans for community events. The buildings also provide services to local communities via our tenants who offer workshops, classes and in some cases we also offer free space and event hire. 3. Landlords to the premises and property owners: Makespace is building a positive reputation with landlords, which includes Oxford colleges, local city, district and county councils supporting a culture and narrative shift towards positive and responsible stewardship. 4. Funders and supporters: Makespace has successfully developed a strong supporter base across the county with grants secured from the Oxford City Council, OxLEP, Friends Provident and Shared Prosperity Fund in this financial year.

Directors' remuneration

There was no direct remuneration to the directors of Makespace Oxford CIC during the financial year. However, Andrew Edwards, a co-founder of Makespace, is both a Board Director and a full time member of staff on the Executive of Makespace. Mr Edwards has received remuneration for his duties as a staff member only. Board Director Zahra Haji Fath Ali Tehrani is the head of Young Women’s Music Project who is a resident organisation in one of Makespace’s buildings. Their Charity received a minor rent reduction per month as a gesture to recognise the time Zahra contributes as a Makespace board director.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
12 March 2025

And signed on behalf of the board by:
Name: Andrew Edwards
Status: Director