for the Period Ended 31 March 2024
Directors report | |
Profit and loss | |
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 March 2024
Principal activities of the company
Directors
The director shown below has held office during the whole of the period from
1 April 2023
to
31 March 2024
The director shown below has held office during the period of
20 September 2023
to
31 March 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
for the Period Ended
2024 | 2023 | |
---|---|---|
|
£ |
£ |
Turnover: |
|
|
Gross profit(or loss): |
|
|
Administrative expenses: |
(
|
(
|
Other operating income: |
|
|
Operating profit(or loss): |
( |
( |
Interest payable and similar charges: |
(
|
(
|
Profit(or loss) before tax: |
( |
( |
Profit(or loss) for the financial year: |
( |
( |
As at
Notes | 2024 | 2023 | |
---|---|---|---|
|
£ |
£ |
|
Fixed assets | |||
Intangible assets: | 3 |
|
|
Tangible assets: | 4 |
|
|
Total fixed assets: |
|
|
|
Current assets | |||
Cash at bank and in hand: |
|
|
|
Total current assets: |
|
|
|
Creditors: amounts falling due within one year: | 5 |
(
|
(
|
Net current assets (liabilities): |
( |
( |
|
Total assets less current liabilities: |
|
|
|
Creditors: amounts falling due after more than one year: | 6 |
(
|
(
|
Provision for liabilities: |
(
|
(
|
|
Total net assets (liabilities): |
( |
( |
|
Members' funds | |||
Profit and loss account: |
( |
( |
|
Total members' funds: |
( |
( |
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 March 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
for the Period Ended 31 March 2024
2024 | 2023 | |
---|---|---|
Average number of employees during the period |
|
|
for the Period Ended 31 March 2024
Goodwill | Other | Total | |
---|---|---|---|
Cost | £ | £ | £ |
At 1 April 2023 |
|
|
|
Additions |
|
|
|
Disposals | |||
Revaluations | |||
Transfers | |||
At 31 March 2024 |
|
|
|
Amortisation | |||
At 1 April 2023 |
|
|
|
Charge for year | |||
On disposals | |||
Other adjustments | |||
At 31 March 2024 |
|
|
|
Net book value | |||
At 31 March 2024 |
|
|
|
At 31 March 2023 |
|
|
|
for the Period Ended 31 March 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 April 2023 |
|
|
|
|
||
Additions |
|
|
|
|||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 March 2024 |
|
|
|
|
||
Depreciation | ||||||
At 1 April 2023 |
|
|
|
|
||
Charge for year |
|
|
|
|
||
On disposals | ||||||
Other adjustments | ||||||
At 31 March 2024 |
|
|
|
|
||
Net book value | ||||||
At 31 March 2024 |
|
|
|
|
||
At 31 March 2023 |
|
|
|
|
for the Period Ended 31 March 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
Total |
|
|
for the Period Ended 31 March 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Other creditors |
|
|
Total |
|
|
New director focussing on workshops and therapeutic support was engaged. Our community includes arts, and music groups, as well as local businesses and individuals across Leeds and West Yorkshire. We generate revenue through commercial licensing of photographs and video, offering discounted services to musicians, promoters, and venues. This strategy allows us to reinvest in subsidising community projects. During the 2023-2024 financial year, our activities have benefited the community in the following ways: 1. Community Support for Local Businesses: Partnering with a Doncaster-based charity, we provided publicity and video editing services to enhance their community cohesion work. Partnering with another CIC in Bradford we made publicity videos for Police and Community Star awards with Bradford Council as well as the annual Remembering Srebrenica memorial. 2. Archive Licensing: Revenue from licensing our photo and film archives has supported community events and historical commemorations. Income from platforms such as Pond 5, and other media has enabled us to continue archiving and digitizing materials. This helps our community as next years plan is to organise an archive showcasing our communities specific endeavours in order to publicise them. 3. Pre-Production of a Feature Documentary: We commenced pre-production on a documentary exploring the Leeds music community, which integrates elements of our community and archive initiatives. Planned completion in 2027. Helping by showcasing positive representations of our community to the wider world.
Consultation with directors on a weekly basis and at our annual meeting in Leeds City Centre (21 February). All directors serve voluntarily and do not receive wages. We anticipate future growth will enable directors to take on freelance contracts to support both grant-funded projects and commercial work. To uphold our community purpose, we engage a panel or Quorum of community consultants. These advisers, drawn from local fields of music, business, hospitality, and media, provide oversight and guidance, ensuring our actions remain representative and aligned with community purpose. Key Discussion Points from the Directors and Stakeholders Meeting 21.02.2024: The decision to continue operating despite financial challenges imposed by on-going legal dispute and ‘phishing’ data protection crime which has impacted on full economic costs. Review of initial trading success in early 2020, which was abruptly halted by lockdown measures and how to build capacity. Commercial clients to re-engage as well as seek others. Targeting CIC grants prioritising ‘The Archive’ for next financial year to begin ‘green shoots’ recovery and financial aid (grants and loans) accessible due to building a clearer 3 branch organisational structure. Agreement to build resilience by seeking and targeting grants (to our three branches) whilst focusing on long-term projects and commercial 'bread & butter' videogrpahy. Directors contributed personal funds to upgrade equipment and cover essential costs, in particular serious breakdown of main vehicle (without which we can not transport expensive film equipment, lighting and crew) as an unforeseen expense. Receipt of small royalties from archive, identified to support the completion of community projects, including continuing a program working with older men in Leeds and West Yorkshire. Plans to apply for further funding for this.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
1 April 2024
And signed on behalf of the board by:
Name: Garry Clarkson
Status: Director