PROJECT FACTORY CIC

Company limited by guarantee

Company Registration Number:
12097914 (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

PROJECT FACTORY CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

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

PROJECT FACTORY CIC

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

Principal activities of the company

Project Factory CIC is a community interest company that runs events, supports and initiates projects and galvanises collaboration within the community to produce a high-quality professional response to volunteer led projects. Its support takes the form of administrative, communication, marketing and fundraising as well as consultation in strategic review. In January 2024 Project Factory delivered a series of lantern making workshops under the theme ‘Festivals’ to culminate in the annual Lantern Parade that starts in Wells Cathedral and parades around the Medieval Quarter of Wells. The workshops were supported by volunteers and a paid tutor and attracted families from across Wells. These intergenerational workshops encourage creativity and collaboration. Project Factory ran a workshop for members of The Lawrence Centre, who live with conditions related to aging including memory loss. There is a small charge for the kits, but people on low income and refugees can participate in the workshops at no charge. Project Factory continued to deliver the series of 18 arts talks C.H.A.T.S as part of the Education Programme for the Gormley Project, this project aggregated an audience of 2300 with 10% being free tickets to students. The idea was to bring quality speakers to Wells to give the local community and students the opportunity to hear, meet and question renowned contemporary artists - this year speakers included freelance wildlife photographer Doug Allen, art historian James Russell, art critic Jonathan Jones. This education project has been focussed on attracting schools into Wells Cathedral, The Bishop’s Palace and Wells Museum to provide a coordinated programme of cross-curricular workshops and tours. Project Factory has administered grants to schools and enabled the Blue School to bring its GCSE Art Students to launch their coursework, since 2021.



Directors

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

Emma Lefevre
Ann Whalley
Steve Wilson
Margaret Charlesworth


The director shown below has held office during the period of
20 July 2024 to 31 July 2024

Victoria Payne


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
13 April 2025

And signed on behalf of the board by:
Name: Emma Lefevre
Status: Director

PROJECT FACTORY CIC

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 3,614 20,132
Cost of sales: ( 1,902 ) ( 20,392 )
Gross profit(or loss): 1,712 (260)
Administrative expenses: ( 1,711 ) ( 2,647 )
Operating profit(or loss): 1 (2,907)
Profit(or loss) before tax: 1 (2,907)
Profit(or loss) for the financial year: 1 (2,907)

PROJECT FACTORY CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 2,235 2,233
Total current assets: 2,235 2,233
Net current assets (liabilities): 2,235 2,233
Total assets less current liabilities: 2,235 2,233
Total net assets (liabilities): 2,235 2,233
Members' funds
Profit and loss account: 2,235 2,233
Total members' funds: 2,235 2,233

The notes form part of these financial statements

PROJECT FACTORY CIC

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.

This report was approved by the board of directors on 29 April 2025
and signed on behalf of the board by:

Name: Emma Lefevre
Status: Director

The notes form part of these financial statements

PROJECT FACTORY CIC

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

PROJECT FACTORY CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

COMMUNITY INTEREST ANNUAL REPORT

PROJECT FACTORY CIC

Company Number: 12097914 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

Project Factory CIC is a community interest company that runs events, supports and initiates projects and galvanises collaboration within the community to produce a high-quality professional response to volunteer led projects. Its support takes the form of administrative, communication, marketing and fundraising as well as consultation in strategic review. In January 2024 Project Factory delivered a series of lantern making workshops under the theme ‘Festivals’ to culminate in the annual Lantern Parade that starts in Wells Cathedral and parades around the Medieval Quarter of Wells. The workshops were supported by volunteers and a paid tutor and attracted families from across Wells. These intergenerational workshops encourage creativity and collaboration. Project Factory ran a workshop for members of The Lawrence Centre, who live with conditions related to aging including memory loss. There is a small charge for the kits, but people on low income and refugees can participate in the workshops at no charge. Project Factory continued to deliver the series of 18 arts talks C.H.A.T.S as part of the Education Programme for the Gormley Project, this project aggregated an audience of 2300 with 10% being free tickets to students. The idea was to bring quality speakers to Wells to give the local community and students the opportunity to hear, meet and question renowned contemporary artists - this year speakers included freelance wildlife photographer Doug Allen, art historian James Russell, art critic Jonathan Jones. This education project has been focussed on attracting schools into Wells Cathedral, The Bishop’s Palace and Wells Museum to provide a coordinated programme of cross-curricular workshops and tours. Project Factory has administered grants to schools and enabled the Blue School to bring its GCSE Art Students to launch their coursework, since 2021.

Consultation with stakeholders

Consultations with course attendees, lantern festival, workshops and event volunteers.

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
13 April 2025

And signed on behalf of the board by:
Name: Emma Lefevre
Status: Director