BLACKHORSE WORKSHOP CIC

Company limited by guarantee

Company Registration Number:
08659588 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

BLACKHORSE WORKSHOP CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

BLACKHORSE WORKSHOP CIC

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 57,658 59,880
Total fixed assets: 57,658 59,880
Current assets
Stocks: 4 3,890 3,788
Debtors: 5 31,752 17,253
Cash at bank and in hand: 50,029 108,274
Total current assets: 85,671 129,315
Creditors: amounts falling due within one year: 6 ( 79,326 ) ( 99,494 )
Net current assets (liabilities): 6,345 29,821
Total assets less current liabilities: 64,003 89,701
Creditors: amounts falling due after more than one year: 7 ( 6,741 ) ( 17,385 )
Total net assets (liabilities): 57,262 72,316
Members' funds
Profit and loss account: 57,262 72,316
Total members' funds: 57,262 72,316

The notes form part of these financial statements

BLACKHORSE WORKSHOP CIC

Balance sheet statements

For the year ending 31 August 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 5 April 2025
and signed on behalf of the board by:

Name: Ruch Pathirana
Status: Director

The notes form part of these financial statements

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 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

    Turnover policy

    Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Plant and machinery- 20% straight line Containers- 10% straight line Leasehold improvements are written off on a straight line basis over the remaining period of the lease.

    Other accounting policies

    Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards the revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 24 19

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2023 157,045 53,221 64,722 274,988
Additions 10,853 10,853
Disposals
Revaluations
Transfers
At 31 August 2024 157,045 64,074 64,722 285,841
Depreciation
At 1 September 2023 157,045 25,703 32,360 215,108
Charge for year 6,603 6,472 13,075
On disposals
Other adjustments
At 31 August 2024 157,045 32,306 38,832 228,183
Net book value
At 31 August 2024 0 31,768 25,890 57,658
At 31 August 2023 0 27,518 32,362 59,880

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Stocks

2024 2023
£ £
Stocks 3,890 3,788
Total 3,890 3,788

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

5. Debtors

2024 2023
£ £
Trade debtors 16,560 9,978
Other debtors 15,192 7,275
Total 31,752 17,253

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 10,644 10,644
Trade creditors 13,324 15,487
Taxation and social security 27,411 15,921
Accruals and deferred income 15,260 37,124
Other creditors 12,687 20,318
Total 79,326 99,494

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 6,741 17,385
Total 6,741 17,385

COMMUNITY INTEREST ANNUAL REPORT

BLACKHORSE WORKSHOP CIC

Company Number: 08659588 (England and Wales)

Year Ending: 31 August 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. Blackhorse Workshop is a community space for making and creativity with a fully equipped wood and metal workshop and studio spaces in Walthamstow. Education Delivered courses teaching woodwork and metalwork to over 800 adults. Delivered machine, power tool or hand tool induction training sessions to teach use of workshop machinery to 420 adults. This year we ran the fourth round of Blackhorse Responders an award-winning creative activism programme for 16-25 year old makers. Created to explore the use of design to transform attitudes and give young people a voice to speak out and engage others creatively about the issues they care about,16 local young people attended weekly sessions and Saturday trips. Inspirational guest speakers and offsite trips developed individual passions, demonstrating the practical activation of ideas and how to campaign for change and explore what creative activism means in our everyday. Speaking to those working in the field was key to understanding how ideas can be realised and have impact, seeking out opportunities for engagement with different local and creative partners; a chance to take ideas and present them in a public context. Activators, our alumni programme for young people who have taken part in Responders continued this year. The group met monthly to seek out new opportunities to present work, develop ideas, grow networks and connections and develop skills in the workshop. Two Special Educational Needs Schools, attended weekly sessions to learn practical design technology and creative skills, achieving significant improvement in their educational expectations with several of this year’s cohort applying to for further study as a direct result of their involvement with Blackhorse Workshop. Business Support We provided shared tools, equipment and affordable workspace to 48 emerging creative businesses. As many have been forced out of London due to the rising cost of living, we have continued to support makers to be able to stay in the city and continue to make a living doing what they love. Providing workspace that remains ‘affordable’ is a top priority, alongside building a network of creative professionals that can continue to provide opportunities to collaborate and take on wider projects whilst learning from one another. Our open-access / pay-as-you-go structure allows anyone to be able to grow their skills and confidence at their own pace, providing the opportunity to meet other makers and develop their experience until they are ready to take on their own dedicated desk space. We have provided open access bench bookings for all members of the public who have completed a H&S induction, in both our wood and metal workshops. Community Events Our Community Kitchen ran twice a week until April 2024, offering a hot vegetarian/vegan meal, of a high standard on a sliding scale price system. The meal was held in a friendly and welcoming environment, encouraging social interaction. In December, it was our annual Christmas market hosted approx.150 visitors and 18 creatives selling their work. Local residents Our offer for local families included: Make Stuff Club - 10 young people aged 9-11 work on weekly and longer term projects. Monthly family sessions - Up to 15 young people and adults aged 9+ make a different project each time. Special Education Needs focussed Make Stuff Club – 15 young people aged 9-11 work on weekly and longer term projects. We continued to run a Concessions club, offering free spaces on courses to people on low incomes and reduced rate bench bookings. Maker Noons is a multi-generational weekly drop-in session that supports residents at risk of isolation, sessions are run by volunteers who have also benefited from the offering of the workshop. On average 10 people attended each week. More detailed Impact Reports are available on our website.

Consultation with stakeholders

The company's stakeholders are its studio residents, its pay as you go users, its course participants, its staff, its board of directors and the business, regeneration and arts and culture teams from the council. Course evaluation is undertaken at the end of every course delivered, and the feedback has been incorporated and their structure modified. New courses are continuously developed to meet the interests and needs of attendees. Studio members are represented both on the staff and board teams. Occasional members meetings have kept studio members involved with plans for the workshop. Members are invited to take part in public events, as demonstrators, selling or exhibiting their work. And opportunities for commissions, small jobs or business development are shared at least weekly via a membership email list. Members meetings were held quarterly and 2 members of the group joined the Board. The meetings are an opportunity to update our members on activity at the workshop and get feedback on improvements like machinery or security. Following on from an Accessibility Report in 2022, we have installed an accessible woodwork bench and hearing loop.

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
5 April 2025

And signed on behalf of the board by:
Name: Ruth Pathirana
Status: Director