GLOBE ARTS EDUCATION C.I.C.

Company Registration Number:
09134138 (England and Wales)

Unaudited statutory accounts for the year ended 30 July 2024

Period of accounts

Start date: 31 July 2023

End date: 30 July 2024

GLOBE ARTS EDUCATION C.I.C.

Contents of the Financial Statements

for the Period Ended 30 July 2024

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

GLOBE ARTS EDUCATION C.I.C.

Directors' report period ended 30 July 2024

The directors present their report with the financial statements of the company for the period ended 30 July 2024

Principal activities of the company

The principal activity of the company is operation of arts school and rental of studio space



Directors

The directors shown below have held office during the whole of the period from
31 July 2023 to 30 July 2024

Mrs J L Harrowsmith
Mr J A Salmon
Miss Z L Gale
Mr M S Harrowsmith
Ms S Palfrey
Ms S Gibbs


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
3 February 2025

And signed on behalf of the board by:
Name: Mrs J L Harrowsmith
Status: Director

GLOBE ARTS EDUCATION C.I.C.

Profit And Loss Account

for the Period Ended 30 July 2024

2024 2023


£

£
Turnover: 182,403 181,943
Cost of sales: ( 63,800 ) ( 49,745 )
Gross profit(or loss): 118,603 132,198
Administrative expenses: ( 126,993 ) ( 118,156 )
Other operating income: 10,000
Operating profit(or loss): 1,610 14,042
Interest receivable and similar income: 57
Interest payable and similar charges: ( 743 ) ( 848 )
Profit(or loss) before tax: 867 13,251
Tax: 2,518 ( 2,518 )
Profit(or loss) for the financial year: 3,385 10,733

GLOBE ARTS EDUCATION C.I.C.

Balance sheet

As at 30 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 23,759 3
Total fixed assets: 23,759 3
Current assets
Stocks: 4 10,579 6,581
Debtors: 5 8,272 5,101
Cash at bank and in hand: 2,213 31,714
Total current assets: 21,064 43,396
Creditors: amounts falling due within one year: 6 ( 15,744 ) ( 13,145 )
Net current assets (liabilities): 5,320 30,251
Total assets less current liabilities: 29,079 30,254
Creditors: amounts falling due after more than one year: 7 ( 22,394 ) ( 26,954 )
Total net assets (liabilities): 6,685 3,300
Capital and reserves
Called up share capital: 200 200
Profit and loss account: 6,485 3,100
Total Shareholders' funds: 6,685 3,300

The notes form part of these financial statements

GLOBE ARTS EDUCATION C.I.C.

Balance sheet statements

For the year ending 30 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.

This report was approved by the board of directors on 3 February 2025
and signed on behalf of the board by:

Name: Mrs J L Harrowsmith
Status: Director

The notes form part of these financial statements

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 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 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 balance sheet 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.

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 4 4

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 31 July 2023 44,440 2,919 1,408 48,767
Additions 13,639 10,670 24,309
Disposals
Revaluations
Transfers
At 30 July 2024 58,079 13,589 1,408 73,076
Depreciation
At 31 July 2023 44,439 2,918 1,407 48,764
Charge for year 375 178 553
On disposals
Other adjustments
At 30 July 2024 44,814 3,096 1,407 49,317
Net book value
At 30 July 2024 13,265 10,493 1 23,759
At 30 July 2023 1 1 1 3

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 July 2024

4. Stocks

2024 2023
£ £
Stocks 10,579 6,581
Total 10,579 6,581

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 July 2024

5. Debtors

2024 2023
£ £
Prepayments and accrued income 3,900 3,698
Other debtors 4,372 1,403
Total 8,272 5,101

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 July 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 13,095 9,051
Taxation and social security 372 2,474
Accruals and deferred income 1,650 1,620
Other creditors 627
Total 15,744 13,145

GLOBE ARTS EDUCATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 July 2024

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

2024 2023
£ £
Bank loans and overdrafts 22,394 26,954
Total 22,394 26,954

COMMUNITY INTEREST ANNUAL REPORT

GLOBE ARTS EDUCATION C.I.C.

Company Number: 09134138 (England and Wales)

Year Ending: 30 July 2024

Company activities and impact

Globe Arts Education CIC operates as an independent art school whose aim is to increase the educational and professional profile and value of art, promote wellbeing and narrow the gap in expertise, confidence and art facility. We do this by working with individuals, other artists, schools and young people, this is achieved by providing high quality bespoke art workshops, accessing skilled art tutors and professional artists. Weekly art and craft classes are provided that include drawing and painting, life drawing, ceramics and fused glass, weekend workshops, afler school art provision and funded outreach projects. Our studio holds exhibitions for all local artists of all ages and capabilities. Regular provisions of our facility is used by over 165 people per week.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £42,800. (£40,400 previous year) There were no other transactions or arrangements in connection with the remuneration of directors, of compensation for directors loss of office, \which require to be disclosed

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
3 February 2025

And signed on behalf of the board by:
Name: Mrs J L Harrowsmith
Status: Director