for the Period Ended 31 January 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
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
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
13 months to 31 January 2024 | ||
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Administrative expenses: |
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Operating profit(or loss): |
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Profit(or loss) before tax: |
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Tax: |
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Profit(or loss) for the financial year: |
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As at
Notes | 13 months to 31 January 2024 | ||
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Fixed assets | |||
Intangible assets: |
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Investments: |
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Creditors: amounts falling due within one year: | 3 |
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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 31 January 2024
Basis of measurement and preparation
Other accounting policies
for the Period Ended 31 January 2024
13 months to 31 January 2024 | ||
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Average number of employees during the period |
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for the Period Ended 31 January 2024
13 months to 31 January 2024 | ||
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£ | ||
Bank loans and overdrafts |
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Amounts due under finance leases and hire purchase contracts |
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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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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.
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.
No remuneration was received
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