LUTON CREATIVE COMMUNITY CIC

Company limited by guarantee

Company Registration Number:
15048884 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 4 August 2023

End date: 30 September 2024

LUTON CREATIVE COMMUNITY CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

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

LUTON CREATIVE COMMUNITY CIC

Directors' report period ended 30 September 2024

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

Directors

The directors shown below have held office during the whole of the period from
4 August 2023 to 30 September 2024

Terence S Hayden
Richard M Lovelock
Joanne Herd


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
26 March 2025

And signed on behalf of the board by:
Name: Terence S Hayden
Status: Director

LUTON CREATIVE COMMUNITY CIC

Profit And Loss Account

for the Period Ended 30 September 2024

14 months to 30 September 2024


£
Turnover: 81,717
Cost of sales: ( 31,957 )
Gross profit(or loss): 49,760
Administrative expenses: ( 34,350 )
Operating profit(or loss): 15,410
Interest receivable and similar income: 428
Profit(or loss) before tax: 15,838
Tax: ( 3,009 )
Profit(or loss) for the financial year: 12,829

LUTON CREATIVE COMMUNITY CIC

Balance sheet

As at 30 September 2024

Notes 14 months to 30 September 2024


£
Fixed assets
Tangible assets: 3 12,164
Total fixed assets: 12,164
Current assets
Stocks: 4 2,666
Debtors: 5 1,945
Cash at bank and in hand: 18,447
Total current assets: 23,058
Net current assets (liabilities): 23,058
Total assets less current liabilities: 35,222
Accruals and deferred income: ( 19,385 )
Total net assets (liabilities): 15,837
Members' funds
Profit and loss account: 15,837
Total members' funds: 15,837

The notes form part of these financial statements

LUTON CREATIVE COMMUNITY CIC

Balance sheet statements

For the year ending 30 September 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 26 March 2025
and signed on behalf of the board by:

Name: Terence S Hayden
Status: Director

The notes form part of these financial statements

LUTON CREATIVE COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 30 September 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

    straight line 36 months

LUTON CREATIVE COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    14 months to 30 September 2024
    Average number of employees during the period 0

LUTON CREATIVE COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 7,377 6,835 14,212
Disposals
Revaluations
Transfers
At 30 September 2024 7,377 6,835 14,212
Depreciation
Charge for year 908 1,140 2,048
On disposals
Other adjustments
At 30 September 2024 908 1,140 2,048
Net book value
At 30 September 2024 6,469 5,695 12,164

LUTON CREATIVE COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Stocks

14 months to 30 September 2024
£
Stocks 2,666
Total 2,666

LUTON CREATIVE COMMUNITY CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Debtors

14 months to 30 September 2024
£
Trade debtors 1,945
Total 1,945

COMMUNITY INTEREST ANNUAL REPORT

LUTON CREATIVE COMMUNITY CIC

Company Number: 15048884 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

We are a small community theatre offering the venue out to all ethnic and diverse backgrounds who want to perform their art to a variety of audiences. The Library Theatre, which is on the third floor of the Central Library building was due to close. LCC were trying to save the only theatre in the local area from closure back in 2023, we are a group of creatives and interested individuals who agreed to step in, in order to keep the theatre open and operational. Our belief is that we can make a success of it as we are all working voluntarily, and to that end have very few core costs. The theatre was in need of a huge amount of work, after reaching out to the community, local businesses, and the local authority, we received many donations, financial and tangible, which ensured that the theatre could open. With its immediate future secured, LCC has been able to start booking a wide range of events, allowing people and organisations to plan ahead and book the theatre. LCC has brought the local arts community closer together by having an inclusive approach at affordable prices. Providing artists with the opportunity to share their talents in a space where everyone can appreciate it, whilst growing our audiences, has benefited all parties. The work of LCC at the theatre has been recognised by the community, with it being nominated for numerous awards in the local area. Most notably: Luton’s Best Awards, Winner – Leisure, Culture and Heritage Luton & Bedfordshire Community Awards, Highly Commended – Arts Award LCC were also fortunate to receive 2 grants in the year to pay for a stage curtain, and to help with sustainability in the bar.

Consultation with stakeholders

Our executive committee includes lots of experience in many areas of the arts. LCC understands the Library Theatre’s significant importance to the local community, with one of our directors who has overseen the theatres development for multiple decades. We currently have 11 executive members, although we are always actively seeking new members to strengthen our governance and introduce new skillsets and experience. We have a vast number of volunteers, currently 106 actively taking on roles, with even more supporting the theatre by attending events. LCC takes every opportunity to ask for feedback from the public who visit the venue and from our volunteers on how we can develop the theatre and offer greater variety of events to engage every part of Luton’s diverse community. LCC has joined many focus groups and organisations to help embed itself and the theatre into the local arts scene, raising awareness of its reopening and vibrant programme of events. LCC is working with Luton Music Hub on the BLMK Partnership Hub, offering creatives and organisations, including schools, colleges and arts companies, the opportunity to include the theatre in their future plans. LCC has been part of the Luton Creative Forum, which is a network of artists and arts workers in Luton that meet every two months to share best practice and collaborate to improve the state of the arts in Luton. LCC is a partner with Luton Bid, a collaboration of businesses in the Luton town centre, whose task is to help make the centre of Luton a clean, safe and inviting place for shoppers, workers and leisure seekers. LCC has been working with schools, hosting network meetings and open days, exploring opportunities for pupils to come to the theatre for a host of different tasks. Whether this is for a Leavers Assembly performed to family and friends, or workshops run by professional arts bodies. The aim of LCC is to offer a broad experience of the theatre to pupils and adults alike, igniting an interest in creative arts and helping develop and nurture skills that will help them with their future life choices. LCC works with other users of the library building, and attends regular management meetings to ensure the safe running of the building, with any areas for improvement discussed and prioritised. LCC has also been working actively with arts creatives in support of their own funding applications, which require a partner and supporter with access to arts facilities. Since saving the theatre from closure, LCC has been able to bring several local amateur theatre companies back to perform at the theatre, who had moved to smaller venues outside of the town. Due to our very affordable hire prices, LCC has also seen a significant increase in the amount of bookings by children’s dance companies and musical theatre companies. This influx of bookings has meant that LCC has been able to offer a much more balanced program of events, offering: theatre, dance, music, children’s entertainment, film, psychic/medium, comedy, as well as standard theatre hires for podcast recording and promo film shoots. LCC has accepted provisional bookings into 2026 and even 2027.

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
26 March 2025

And signed on behalf of the board by:
Name: Joanne Herd
Status: Director