WEEK 45 COLLECTIVE CIC

Company limited by guarantee

Company Registration Number:
14568172 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 3 January 2023

End date: 31 January 2024

WEEK 45 COLLECTIVE 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

WEEK 45 COLLECTIVE 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 director shown below has held office during the whole of the period from
3 January 2023 to 31 January 2024

PENELOPE JANE WOOLFALL


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
11 November 2024

And signed on behalf of the board by:
Name: PENELOPE JANE WOOLFALL
Status: Director

WEEK 45 COLLECTIVE CIC

Profit And Loss Account

for the Period Ended 31 January 2024

13 months to 31 January 2024


£
Turnover: 6,579
Cost of sales: ( 1,092 )
Gross profit(or loss): 5,487
Administrative expenses: ( 4,769 )
Operating profit(or loss): 718
Profit(or loss) before tax: 718
Tax: ( 136 )
Profit(or loss) for the financial year: 582

WEEK 45 COLLECTIVE CIC

Balance sheet

As at 31 January 2024

Notes 13 months to 31 January 2024


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Cash at bank and in hand: 1,688
Total current assets: 1,688
Creditors: amounts falling due within one year: 3 ( 1,105 )
Net current assets (liabilities): 583
Total assets less current liabilities: 583
Total net assets (liabilities): 583
Members' funds
Profit and loss account: 583
Total members' funds: 583

The notes form part of these financial statements

WEEK 45 COLLECTIVE 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 11 November 2024
and signed on behalf of the board by:

Name: PENELOPE JANE WOOLFALL
Status: Director

The notes form part of these financial statements

WEEK 45 COLLECTIVE 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

    Other accounting policies

    The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

WEEK 45 COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    13 months to 31 January 2024
    Average number of employees during the period 0

WEEK 45 COLLECTIVE CIC

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Creditors: amounts falling due within one year note

13 months to 31 January 2024
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 136
Accruals and deferred income 390
Other creditors 579
Total 1,105

COMMUNITY INTEREST ANNUAL REPORT

WEEK 45 COLLECTIVE CIC

Company Number: 14568172 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

In the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a description of how they have benefited the community. Our first exhibition in July 2023 featured 20 Women Artists and was held in Mayfair at 54 The Gallery, the place we now call ‘home’. Over the next year to date we have mounted 12 exhibitions and changed from a Women only Collective to embrace all Artists who enjoy working in a team with a supportive collective ethos. We now work with over 40 Artists per show ranging from emerging to well collected practitioners retaining our core group who show with us consistently. We have branched out from Mayfair Gallery to include J/M Gallery in Portobello and have mounted a number of back to back successful shows over the last 6 months in Notting Hill lifting the profile of Artists who would not normally have access to these types of high end venues. Many of our Artists work with us again as they comment that we are ‘like a family’; supportive and ‘human’ but also working collectively, affordably and with integrity with a commitment to both the Artwork and the Artists development. We have also had success in reaching out to International Artists from Poland, Turkey, Italy, France and further afield to Australia and our last show featured an entire room of Australian works much of which revolved around Mental Health theme- one artist being a Professor of Psychology and the other having illustrated a published work on Bi- Polar. In March 2024 we launched ‘The Herd’ in order to use our funds to encourage, fund and mentor Artists who suffer with Serious Mental Illness and other altered states and those who need more than simple accessibility and affordability. Week 45 Collective applied and received funding from the UFFC and we successfully supported a street homeless Artist over 3 shows who was living rough through that period of his life, to being housed whilst also successfully showing and selling his works in Notting Hill’s J/M Gallery and in Mayfair’s 54 The Gallery. We remain supporting this artist as he progresses socially and as a professional artist. We also supported, funded and mentored an Artist living on a locked psychiatric ward, also producing prints, framing, hanging, showing and selling her work in both Galleries. We funded both artists from our funding from UFFC and also with our small profit which we have built slowly. This has been our greatest achievement as a CIC however we operate this side of the company with discretion in order to deal with the stigma these Artists’ face. We will always continue to provide support in this way when we see need and can afford to do so.

Consultation with stakeholders

The stakeholder for the related financial year is the director of the same. As she is aware of all the proceedings, consultations aren’t necessary.

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
11 November 2024

And signed on behalf of the board by:
Name: Penelope Jane WOOLFALL
Status: Director