STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
07646830 (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

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 May 2024

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

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

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 principal activity of the company is The principal activity of the company is making and selling of Arts and Crafts Collectives while empowering people to recover from mental illness.

Additional information

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.



Directors

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

Gavin James Haviland Eastley
Sandra Wauchope
Shahnaz Parveen
Rachael Katz


The director shown below has held office during the period of
1 June 2023 to 28 December 2023

Stephen Mann


Secretary Rachael Katz

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
9 April 2025

And signed on behalf of the board by:
Name: Sandra Wauchope
Status: Director

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 126,709 16,128
Cost of sales: ( 4,023 ) ( 1,699 )
Gross profit(or loss): 122,686 14,429
Administrative expenses: ( 122,686 ) ( 19,353 )
Operating profit(or loss): 0 (4,924)
Profit(or loss) before tax: 0 (4,924)
Profit(or loss) for the financial year: 0 (4,924)

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Current assets
Stocks: 3 6,256 6,846
Debtors: 4 225 268
Cash at bank and in hand: 53,185 35,385
Total current assets: 59,666 42,499
Creditors: amounts falling due within one year: 5 ( 25,542 ) ( 8,375 )
Net current assets (liabilities): 34,124 34,124
Total assets less current liabilities: 34,124 34,124
Total net assets (liabilities): 34,124 34,124
Members' funds
Profit and loss account: 34,124 34,124
Total members' funds: 34,124 34,124

The notes form part of these financial statements

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

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 9 April 2025
and signed on behalf of the board by:

Name: Sandra Wauchope
Status: Director

The notes form part of these financial statements

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

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 Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.The Depreciation method is 3 to 5 Years for Fixtures,fittings,tools and equipment.

    Valuation information and policy

    Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods

    Other accounting policies

    Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced toits selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

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

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Stocks

2024 2023
£ £
Stocks 6,256 6,846
Total 6,256 6,846

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 225
Other debtors 268
Total 225 268

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 25,542 8,375
Total 25,542 8,375

COMMUNITY INTEREST ANNUAL REPORT

STUDIO 306 COLLECTIVE COMMUNITY INTEREST COMPANY

Company Number: 07646830 (England and Wales)

Year Ending: 31 May 2024

Company activities and impact

The Community Interest Company enabled individuals with Mental Health to use creativity in arts and crafts as a catalyst for wellness and recovery. Mostly, people living in North London; Barnet;Enfield and Haringey and other areas in London. In this period, Studio 306 Collective co-designed, co-delivered, co- implemented and co-evaluated community events and activities, with creative local makers on two new projects. We continued our activities on the London Community Funding until September 2023 and on a new project with BEHMHT -Forensic Team. We were successful in a grant application Awards for All to run cost of Living resilience workshops. The grant of £20,000 was received in May 2024 to delivery 26 week workshops from August 2024 to March 2025. The Studio offered people recovering from mental illness a clean, safe, secure and enabling environment to learn new skills, become more self-confident, in order to reduce social isolation and become socially included. In addition to workshops, bi-monthly meetings. We supported them with other creative people networks on an integrated multi agency team approach to help them progress forward with their unique skills and abilities. We provided workshops to long term disadvantaged people , primarily from marginalised communities with open creative space and the opportunity to rediscover forgotten skills, develop new ones, and boost self confidence with an enhanced sense of fulfilment and empowerment.Information, advice and guidance from qualified trained staff in mental health was provided with regular training on employability skills, training workshops, open studios, craft fairs and markets to offer realistic work experiences. The makers gained marketing and communications skills with this global engagement to showcase their work online and in person at community events.Makers were encouraged to promote their handwork at other retail outlets and social media on Instagram and Facebook. The community and public benefits were: 1. Studio 306 Improved healths and well being by connecting people to their local community and health services. We supported at least 180 people in the community, reducing the need for GP or hospital support 2. We engaged with over 85 people in a supervised workshop setting to build up their skills and confidence. 3. We encouraged community connectivity with reduced social isolation. 4. There was a drop in dependence on National Health Services out of service provision and Mental Health improved as over 70 people felt better with health improvements and community peer support. 5. The community benefited from more accessible social support and improved creative designs as their self confidence grew over time. 6. Co-designers joined in local community events to meet firms, access jobs and business opportunities. 7. We held over 75 training workshops and consultative meeting to give all participants a voice. They were listened to and we achieved improvements together with new designs and bespoke customised products

Consultation with stakeholders

June – Getting Through Life Together – 13 week workshops in sewing and sumi art painting. These workshops were very successful with a good turnout. We attended Pennisula Meeting at THFC around health and safety in the work place and changes in employment law. This was followed up by a site visit to our site around our Health and safety policies and procedures. The PWC mentor continued to support Studio 306 with strategic and operational advice. The print screens were serviced by Cadisch in order to improve the quality of our prints. On 22 June, Studio 306 acknowledged the 75th Anniversary the Windrush Refugee Boat people with some of our senior makers.We continued to work with ACCA North London members and were invited to join them for a social event on 23th June around the theme that we all have ‘More in Common Than That Which Divides Us’. A Board meeting was held on 27th June to plan for the year ahead. July –We held our summer open studio on 5th– 6th July providing an opportunity for the wider community to engage with us and to buy creative handmade affordable art /crafts. Studio 306 held ceramic master classes in July for advanced makers. We joined with Haringey Regeneration Team on a consultative meeting on Shaping Wood Green. Our ceramic tutor facilitated a Victoria and Albert Museum visit with five makers. SA/PA attended Wood Green Business Voices Workshop hosted by Haringey council in Station Road Green Room. August – We continued with health and well being LCF (London Community Foundation) funded workshop through the summer period to support our socially isolated and anxious participants who struggled with the increased costs of living. Many could not afford any holidays and the Studio provided a safe place to meet, have peer support and share lived experiences. We had a visit from colleagues in the NHS Social Prescriber Services who brought their clients for informal visits to see what we do on site. They engaged and enrolled on the future planned workshops. September –Enrolment week for new participants with over 50 individuals registering to attend our workshops. New classes started on 13th September 2023. We showcased our outcome and outputs on Tuesday 26th September for the LCF funded work. Feedback from all beneficiaries was that they wanted these courses to continue as they had made a massive impact of their day to day lives. They felt more enabled and empowered by the specialist tutors and the support offered. Our manager went on a master class in Navigating the Innovation Life Cycle in Business online training webinar. Makers’ consultative meeting were held quarterly to encourage new ideas, improvement and any updates on operational risks on site. October – Attended VCF forum meetings to liaise with others partners, share resources and consider weaknesses in the system. Bespoke wedding order was completed by the print team with 120 wedding cake design bags which were hand printed. Board meeting on 12th October discuss the constitutional aims and objectives in order to be clear that we are a not for profit organisation. Local person donated colourful beads for the jewellery team. These beads were then recycled and used in our free community bead workshops. Partnership work with local community centre to distribute flyers for the local Diwali celebrations. We attended the Mayors fund raising event in partnership with Metro Bank to raise funds for young people with mental health. November –Board meeting 7th with makers’ consultative meeting on 15th.St Anne Craft Fair in Highgate. Winter by the River Thames stall on 23rd and 24th with SEUK support. Hornsey Vale stalls on 26th with volunteers. Group coaching on 30th with PWC and outcome was the website needed improvements. Open Studio was on 30th November for two days. December – Safeguarding course in the Wood Green Library and community engagement. The board reviewed our policy and this was updated. Partnership A1 training in Antwerp Arms with global colleagues from ACCA and other partner firm Christmas bazaar at Haringey Hub on 9th with community sales. Collage Arts Christmas Market on 16th and 17th.with Festive meal on 20th December with 24 people. Jan Sadly, we lost our chair Cllr Stephen Mann in December 2023 and we all attended his funeral on 15th January 2024 at St Peter in Chain, Hornsey Great Mental Health Day was held on Friday 26th Jan. Feb –We had catch up meetings with Board, makers and BEHMHT Forensic Team. Donors came to visit the Studio on 14th. March, studio 306 Women’s achievements was hosted in Metro bank. Our project manager, participated with PwC Entrepreneurs club on a social enterprise coaching workshop to enhance futuregrowth. In April we joined Tottenham Hotspurs Supporters Quiz Night held to raise funds and support Studio 306 at The Antwerp Arms community pub. Retail outlets continue to support our outside sales In May, Studio 306 Board held a budget meeting in Hornsey and had partnership training meetings with others.

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
9 April 2025

And signed on behalf of the board by:
Name: Sandra Paulette Wauchope
Status: Director