for the Period Ended 30 June 2024
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2024 | 2023 | |
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£ |
£ |
Turnover: |
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Gross profit(or loss): |
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Administrative expenses: |
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(
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Other operating income: |
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Operating profit(or loss): |
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( |
Profit(or loss) before tax: |
( |
( |
Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 5 |
(
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(
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Net current assets (liabilities): |
( |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 June 2024
Basis of measurement and preparation
Tangible fixed assets depreciation policy
for the Period Ended 30 June 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 30 June 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 July 2023 |
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Additions |
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Disposals | ||||||
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Transfers | ||||||
At 30 June 2024 |
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Depreciation | ||||||
At 1 July 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 30 June 2024 |
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Net book value | ||||||
At 30 June 2024 |
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At 30 June 2023 |
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for the Period Ended 30 June 2024
2024 | 2023 | |
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£ | £ | |
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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for the Period Ended 30 June 2024
2024 | 2023 | |
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£ | £ | |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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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.
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.
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.
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