WATLING SPACES COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
12112285 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

WATLING SPACES COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 July 2024

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

WATLING SPACES COMMUNITY INTEREST COMPANY

Directors' report period ended 31 July 2024

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

Directors

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

Mr Mark Maughan
Mrs Sarah Alcock
Mr David Barnes
Mr Philip Stockley
Ms Anne Taylor


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: Mr David Barnes
Status: Director

WATLING SPACES COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 28,794 19,863
Total fixed assets: 28,794 19,863
Current assets
Cash at bank and in hand: 83,849 28,241
Total current assets: 83,849 28,241
Creditors: amounts falling due within one year: 4 ( 89,638 ) ( 37,797 )
Net current assets (liabilities): (5,789) (9,556)
Total assets less current liabilities: 23,005 10,307
Provision for liabilities: ( 5,471 ) ( 3,774 )
Total net assets (liabilities): 17,534 6,533
Members' funds
Profit and loss account: 17,534 6,533
Total members' funds: 17,534 6,533

The notes form part of these financial statements

WATLING SPACES COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 July 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 9 April 2025
and signed on behalf of the board by:

Name: Mr David Barnes
Status: Director

The notes form part of these financial statements

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Leasehold 25% reducing balance Plant & Machinery 36 months straightline Fixtures & Fittings Over the life of the lease Computer Equipment 60 months straightline

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 3,499 21,771 0 25,270
Additions 14,083 0 2,373 16,456
Disposals
Revaluations
Transfers
At 31 July 2024 17,582 21,771 2,373 41,726
Depreciation
At 1 August 2023 947 4,460 0 5,407
Charge for year 4,252 3,147 126 7,525
On disposals
Other adjustments
At 31 July 2024 5,199 7,607 126 12,932
Net book value
At 31 July 2024 12,383 14,164 2,247 28,794
At 31 July 2023 2,552 17,311 0 19,863

WATLING SPACES COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 79,638 27,797
Other creditors 10,000 10,000
Total 89,638 37,797

COMMUNITY INTEREST ANNUAL REPORT

WATLING SPACES COMMUNITY INTEREST COMPANY

Company Number: 12112285 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

Over the past year, our CIC has made significant strides in enhancing the well-being and quality of life for local residents. One of our primary focuses has been on improving physical and mental health, by creating access to the arts. After our extensive regeneration efforts, the initial phase was completed and officially opened in september 2023. Our community now benefits from three purpose-built performance art spaces that are fully accessible, supporting both new and existing groups. Watling Spaces manages the day-to-day operations of the facility, striving to enhance community unity and encourage interactions across society. We have placed a strong emphasis on getting people more active and our fitness programs, which include dance, drama, and general fitness classes, have seen a real increase in participation. These activities not only promote physical health but also help in building a sense of community and belonging among participants. The inclusive nature of our programs ensures that people of all ages and fitness levels can join, fostering a supportive environment where everyone can thrive physically and socially. Alongside our weekly Zumba, belly dance, street dance, Booiaka and Pilates we are also the home to two local theatre groups, and host a range of community events like community sing-alongs, Christmas markets, fundraisers concerts, easter craft workshops, stand-up comedy shows, musical theatre workshops, weeklong food and fitness holiday sessions, Little Movers classes, Pilates brunches, band rehearsals and nearly new sales. Watling Spaces CIC has actively supported other CICs in their socially motivated endeavours, fostering collaboration and community engagement. With fantastic feedback, recommendations and bookings to use the studios for future projects. By increasing access to the arts and organising workshops, performances, and exhibitions, we have opened new avenues for creative expression and cultural engagement. Our community members have had the opportunity to explore their artistic talents, whether through dance, drama, or visual arts. These artistic endeavours have not only enriched the cultural fabric of our community but have also helped individuals find their tribe-like-minded people who share their passions and interests. This sense of belonging and mutual support is invaluable and has made a lasting positive impact on the community as a whole and will only get stronger as we increase our provision. Looking ahead, our focus shifts to the next phase of development, which includes a 360-seat art deco theatre featuring a proscenium arch. Despite the setbacks due to spiralling energy costs and the ongoing cost-of-living crisis, our commitment remains unwavering to establish this much-needed facility in our underserved area with limited arts opportunities. After funding all the capital costs privately we have successfully secured support for new equipment which has enhanced our capabilities and will enable us to provide more technical arts opportunities in the future. The installation of a grid and lighting bars will significantly improve the technical aspects of our space, which will allow for more dynamic and professional productions. Upgrading and restoring lost features is revitalising our venue, creating a more engaging, historic, nostalgic and visually appealing environment for both artists and audiences. By establishing connections with artists, local theatres, producers, programmers and directors, we have expanded our network and collaboration opportunities, and are beginning to foster a vibrant creative community. Our initial 10 months has been so positive, with everything going at 100 miles an hour. Our upcoming plans for the next 12 months are set to make this first year look stationary.

Consultation with stakeholders

The stakeholders of the company include the local community, businesses, and groups that utilise our venue studios to host engaging events and activities for the local and neighbouring areas. The company directors recognised the absence of community arts facilities first hand and engaged in extensive discussions with local residents, arts experts, and performance venues during the building's redevelopment, incorporating their feedback and suggestions into the structure. To determine the needs of local businesses, we distributed surveys to gather information on the types of facilities that would enhance their operations. We also involved leaders of disability groups to visit the project, offering practical insights for venue specific improvements to ensure full accessibility. This approach enabled us to understand the local needs and demands and identify ways to cater to them effectively. Engagement is encouraged through our social media channels, collaborating with those interested in utilising the venue to introduce new activities and events. By assisting in enhancing their businesses, we aim to create a more favourable and diverse environment for the entire community.

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: David Barnes
Status: Director