for the Period Ended 31 July 2024
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
13 months to 31 July 2024 | ||
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£ |
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Turnover: |
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Cost of sales: |
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Gross profit(or loss): |
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Distribution costs: |
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Administrative expenses: |
(
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Other operating income: |
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Operating profit(or loss): |
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Interest receivable and similar income: |
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Interest payable and similar charges: |
(
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Profit(or loss) before tax: |
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Tax: |
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Profit(or loss) for the financial year: |
( |
As at
Notes | 13 months to 31 July 2024 | ||
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£ |
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Called up share capital not paid: |
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Fixed assets | |||
Intangible assets: |
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Tangible assets: | 3 |
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Investments: |
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Total fixed assets: |
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Current assets | |||
Stocks: | 4 |
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Debtors: | 5 |
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Cash at bank and in hand: |
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Investments: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: | 6 |
(
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Net current assets (liabilities): |
( |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: |
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
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Capital and reserves | |||
Called up share capital: |
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Share premium account: |
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Other reserves: |
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Profit and loss account: |
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Total Shareholders' funds: |
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The notes form part of these financial statements
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
for the Period Ended 31 July 2024
13 months to 31 July 2024 | ||
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Average number of employees during the period |
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for the Period Ended 31 July 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 July 2024 |
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Depreciation | ||||||
Charge for year |
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On disposals |
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Other adjustments |
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At 31 July 2024 |
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Net book value | ||||||
At 31 July 2024 |
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for the Period Ended 31 July 2024
13 months to 31 July 2024 | ||
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£ | ||
Stocks |
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Payments on account |
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Total |
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for the Period Ended 31 July 2024
13 months to 31 July 2024 | ||
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£ | ||
Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Total |
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Debtors due after more than one year: |
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for the Period Ended 31 July 2024
13 months to 31 July 2024 | ||
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£ | ||
Bank loans and overdrafts |
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Amounts due under finance leases and hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Total |
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During the financial year, the company provided a safe, inclusive space where individuals could engage in therapeutic arts activities. These sessions supported mental health and emotional wellbeing by offering a creative outlet for self-expression, reducing isolation, and fostering a sense of community. We adapted a model that encourages all participants in a playful, accepting, curious and empathetic way. Although the company operated at a loss and on limited resources, we remained committed to delivering free or low-cost access to the space and materials. The feedback from participants highlighted the value of having a welcoming, non-judgmental environment that prioritised mental wellness through art. As the company prepares to close, we are proud of the positive impact made and the support we provided to individuals during a challenging time.
Our stakeholders include participants, local schools (mainstream and alternative), care providers, health centres, and community partners such as 11th Hour Escape. These groups are directly affected by and involved in the services Creative Minds Arts & Crafts CIC provided. We consulted our stakeholders in several ways throughout the year, including: Review cards completed by participants after sessions Video testimonials from service users and partners Ongoing conversations with teachers, carers, and health professionals to gather feedback on impact and needs This feedback consistently highlighted the value of our services in improving mental well-being, offering inclusive creative spaces, and building confidence. In response, we tailored activities to suit specific groups (e.g. sensory-friendly sessions or themed workshops) and worked more closely with schools and care providers to align our programmes with the needs of their service users.
The total remuneration paid to directors during the financial year was £37,983.35. There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
15 April 2025
And signed on behalf of the board by:
Name: Samson Soyebi
Status: Director