SEAHOUSE MEDIA CIC

Company limited by guarantee

Company Registration Number:
14142287 (England and Wales)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

SEAHOUSE MEDIA CIC

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

SEAHOUSE MEDIA CIC

Directors' report period ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Principal activities of the company

The company operates Seahouse Records, an independent record label based in Barrow-in-Furness, with a particular emphasis on representing local, original music artists. In the financial year 2023-24 the label’s activities have benefited the community in the following ways: Local music artists have been given a means to have their music distributed worldwide for streaming and download. The company has managed and administrated this process on behalf of the artists. The number of artists represented by the label grew to 19 during this, its second year. 38 releases were made by Seahouse Records during this financial year, a growth of over 110% on the previous year. More local music is now available to stream on all popular music and social media platforms, which has raised the identity of the artists and the town. Much of this music is now regularly played on local radio alongside nationally and internationally recognised artists.The label and its artists have been promoted by the company on its own website, giving the artists a place to direct followers to online to find out more about them, through web pages, blogs and email newsletters.The label and its artists have been featured on regular social media posts on Facebook, Instagram and Twitter, allowing public interaction as well as publicity for artists and their music and events. Occasional live music events have been put on by the company in a variety of locations to bring original live music to the community. Some of these events have been in family-friendly venues and during daytime hours to encourage more children and young people to attend, to give them experience of live music. The company paid for a label account with Amazing Radio, to allow upload of its artist’s music to their website and for consideration for airplay on UK and US Amazing radio stations. All Seahouse artists received airplay at various times on both US and UK stations. Seahouse Media received its first small grant assistance during this year, which allowed the label to begin a Scholarship scheme enabling young people to record and release music. We also ran our own stage at Ulverston’s Another Fine Fest festival, where a number of our artists performed live. We began to release our own monthly Podcasts to promote the label, and released the first of our label compilation albums on Bandcamp.



Directors

The directors shown below have held office during the whole of the period from
1 June 2023 to 31 May 2024

Jamie BOSANKO
Matthew Steven KASSELL
Jonathan Paul SWIFT
Mark PRESTON
Graeme PARK
Deborah Ann HENRY


The director shown below has held office during the period of
1 June 2023 to 12 March 2024

Mark DOCHERTY


The director shown below has held office during the period of
22 June 2023 to 31 May 2024

Donna Dacre


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
10 February 2025

And signed on behalf of the board by:
Name: Matthew Steven KASSELL
Status: Director

SEAHOUSE MEDIA CIC

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 6,511 952
Cost of sales: ( 5,332 ) ( 813 )
Gross profit(or loss): 1,179 139
Operating profit(or loss): 1,179 139
Profit(or loss) before tax: 1,179 139
Profit(or loss) for the financial year: 1,179 139

SEAHOUSE MEDIA CIC

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Total fixed assets: 0 0
Net current assets (liabilities):  
Total assets less current liabilities: 0 0
Total net assets (liabilities): 0 0
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

SEAHOUSE MEDIA CIC

Balance sheet statements

For the year ending 31 May 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 10 February 2025
and signed on behalf of the board by:

Name: Matthew Steven KASSELL
Status: Director

The notes form part of these financial statements

SEAHOUSE MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

SEAHOUSE MEDIA CIC

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

COMMUNITY INTEREST ANNUAL REPORT

SEAHOUSE MEDIA CIC

Company Number: 14142287 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

The company operates Seahouse Records, an independent record label based in Barrow-in-Furness, with a particular emphasis on representing local, original music artists. In the financial year 2023-24 the label’s activities have benefited the community in the following ways: Local music artists have been given a means to have their music distributed worldwide for streaming and download. The company has managed and administrated this process on behalf of the artists. The number of artists represented by the label grew to 19 during this, its second year. 38 releases were made by Seahouse Records during this financial year, a growth of over 110% on the previous year. More local music is now available to stream on all popular music and social media platforms, which has raised the identity of the artists and the town. Much of this music is now regularly played on local radio alongside nationally and internationally recognised artists.The label and its artists have been promoted by the company on its own website, giving the artists a place to direct followers to online to find out more about them, through web pages, blogs and email newsletters.The label and its artists have been featured on regular social media posts on Facebook, Instagram and Twitter, allowing public interaction as well as publicity for artists and their music and events. Occasional live music events have been put on by the company in a variety of locations to bring original live music to the community. Some of these events have been in family-friendly venues and during daytime hours to encourage more children and young people to attend, to give them experience of live music. The company paid for a label account with Amazing Radio, to allow upload of its artist’s music to their website and for consideration for airplay on UK and US Amazing radio stations. All Seahouse artists received airplay at various times on both US and UK stations. Seahouse Media received its first small grant assistance during this year, which allowed the label to begin a Scholarship scheme enabling young people to record and release music. We also ran our own stage at Ulverston’s Another Fine Fest festival, where a number of our artists performed live. We began to release our own monthly Podcasts to promote the label, and released the first of our label compilation albums on Bandcamp.

Consultation with stakeholders

The company’s stakeholders are the artists, and by extension anyone who supports them in musical, technical, managerial or promotional means. All of the company directors except two are artists on the label too, and so all processes are designed to be fair and transparent. All artists are added to the Seahouse Records WhatsApp group for communication and updates. They are also on an email distribution list. Regular updates are sent out, first of all on WhatsApp if the nature of the topic is informal, or to gauge opinion. After that, follow-ups are made by email, for more formal topics. This can be as a group or on an individual basis, and can include topics such as live performance bookings, or the arrangements for the sharing of audio and artwork files for release. General music industry links, advice and contacts are also shared with the artists this way. Each artist has been designated a director who is responsible for them and is their first point of contact for any queries relating to any Seahouse matters. We call this ‘Artist Liaison’. Each director therefore has three or four artists under their management, and they will guide them through the release process. Artists are also encouraged to contact any director directly for specialist requests, such as website or social media updates. We send each artist a short questionnaire about how they feel about the label and ask for suggestions on how we could improve. We say we are “run by the artists, for the artists”, and this is true: we listen to suggestions from them either verbally or more formally. Artists have also recommended us to other artists, which is a really good way for us to grow as a label too.

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
10 February 2025

And signed on behalf of the board by:
Name: Matt Kassell
Status: Director