for the Period Ended 31 July 2024
Directors report | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
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
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
And signed on behalf of the board by:
Name:
Status: Director
As at
Notes | 2024 | 2023 | |
---|---|---|---|
|
£ |
£ |
|
Fixed assets | |||
Tangible assets: | 3 |
|
|
Total fixed assets: |
|
|
|
Current assets | |||
Cash at bank and in hand: |
|
|
|
Total current assets: |
|
|
|
Creditors: amounts falling due within one year: | 4 |
(
|
(
|
Net current assets (liabilities): |
( |
( |
|
Total assets less current liabilities: |
|
|
|
Provision for liabilities: |
(
|
(
|
|
Total net assets (liabilities): |
|
|
|
Members' funds | |||
Profit and loss account: |
|
|
|
Total members' funds: |
|
|
The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 July 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
for the Period Ended 31 July 2024
2024 | 2023 | |
---|---|---|
Average number of employees during the period |
|
|
for the Period Ended 31 July 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 August 2023 |
|
|
|
|
||
Additions |
|
|
|
|
||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 July 2024 |
|
|
|
|
||
Depreciation | ||||||
At 1 August 2023 |
|
|
|
|
||
Charge for year |
|
|
|
|
||
On disposals | ||||||
Other adjustments | ||||||
At 31 July 2024 |
|
|
|
|
||
Net book value | ||||||
At 31 July 2024 |
|
|
|
|
||
At 31 July 2023 |
|
|
|
|
for the Period Ended 31 July 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Accruals and deferred income |
|
|
Other creditors |
|
|
Total |
|
|
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.
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.
No remuneration was received
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