HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
11746409 (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

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The company's principal activity continues to be that of the educational provision of technical fine art drawing and painting classes to disadvantaged children, teenagers, young people, adults and families with varied needs and abilities in the London Borough of Hackney who otherwise would not be able to afford them.



Directors

The director shown below has held office during the whole of the period from
1 July 2023 to 30 June 2024

Ms Maria Basualdo


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
27 March 2025

And signed on behalf of the board by:
Name: Ms Maria Basualdo
Status: Director

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Balance sheet

As at 30 June 2024

Notes 2024 2023


£

£
Current assets
Debtors: 3 87 0
Cash at bank and in hand: 56 1,897
Total current assets: 143 1,897
Creditors: amounts falling due within one year: 4 ( 175 ) ( 1,696 )
Net current assets (liabilities): (32) 201
Total assets less current liabilities: (32) 201
Total net assets (liabilities): (32) 201
Members' funds
Profit and loss account: (32) 201
Total members' funds: ( 32) 201

The notes form part of these financial statements

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 27 March 2025
and signed on behalf of the board by:

Name: Ms Maria Basualdo
Status: Director

The notes form part of these financial statements

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

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

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 3 3

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Debtors

2024 2023
£ £
Other debtors 87 0
Total 87 0

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 175 1,159
Other creditors 0 537
Total 175 1,696

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Loans to directors

Name of director receiving advance or credit: Ms Maria Basualdo
Description of the transaction:
Overdrawn Current Account
£
Balance at 30 June 2023
Advances or credits made: 87
Advances or credits repaid:
Balance at 30 June 2024 87

The Loan was fully repaid on 27 March 2025.

COMMUNITY INTEREST ANNUAL REPORT

HACKNEY FINE ARTS COMMUNITY INTEREST COMPANY

Company Number: 11746409 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

The Company's activities provided benefit to disadvantaged adults with mental health issues, the elderly and retired, those on low income, the unemployed, those with learning disabilities, ethnic minority and also young adults not in work or education groups in the London Borough of Hackney who otherwise would not be able to afford traditional and technical fine art drawing and painting classes. The Company's activities promoted social inclusion and positive mental health and wellbeing through creative learning. Seventy eight free of charge art classes were provided to over twenty Students. The Community benefitted by: - Connecting with other members of the community with a shared interest of art. - Equalising disadvantage and improving inclusion and a sense of belonging in a borough well known for its highly creative and artistic population. - Experiencing the inclusion of Students with a range of different needs and abilities. - Having free access to a practical cultural activity. - Enriching practical and technical knowledge of artistic practice and it's history. - Improving a sense of positive mental health and wellbeing by focusing on creative learning. - Improving confidence and self-esteem through group participation, personal and shared peer achievement. - Improving literacy and mathematical key skills. - In some cases, help towards progression to FE and HE by building portfolios and assistance towards writing a personal statement and also interview skills. - Gaining assistance to Students to learn how to promote their work on social media.

Consultation with stakeholders

The Company's Stakeholders are Hackney Council (who provided the Company with the Grant), Hackney City Farm (with whom the Company worked in partnership for this project) and it's Students. Throughout the project's duration, Hackney Council undertook three inspections to review students work and the quality of the Company's teaching. The Company supplied Hackney Council with Registers, Enrolment Forms, Examples of Students' Works and Video Interviews with Students. There was an initial visit followed by mid project and end of project reviews and the Company passed all Inspections. In addition, Hackney City Farm reviewed the Company's teaching activities by visiting classes and were provided with Examples Of Students' Works. The Students completed Learner Satisfaction Surveys and appeared satisfied with the project's outcome. They mentioned improved wellbeing and the learning of new artistic skills.

Directors' remuneration

The Director's Remuneration totalled £300, being £145 for teaching and £155 for project management. There were no other transactions or arrangements in connection with the remuneration of the Director, 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
27 March 2025

And signed on behalf of the board by:
Name: Ms Maria Basualdo
Status: Director