RAINHILL ARTS COLLEGE CIC

Company limited by guarantee

Company Registration Number:
06679357 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2024

Period of accounts

Start date: 1 September 2023

End date: 31 August 2024

RAINHILL ARTS COLLEGE CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

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

RAINHILL ARTS COLLEGE CIC

Directors' report period ended 31 August 2024

The directors present their report with the financial statements of the company for the period ended 31 August 2024

Principal activities of the company

The principal activity of the company is to carry on activities that benefit the community, and, in particular, to help nurture and improve the confidence of the young people in the community of Rainhill and surrounding areas and to give them the opportunity to embrace new activities and experiences through the arts, including dance, drama and singing.



Directors

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

David Boyer
John Boyer


Secretary Josephine Thorogood

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
12 December 2024

And signed on behalf of the board by:
Name: David Boyer
Status: Director

RAINHILL ARTS COLLEGE CIC

Profit And Loss Account

for the Period Ended 31 August 2024

2024 2023


£

£
Turnover: 15,469 12,168
Cost of sales: ( 9,930 ) ( 13,367 )
Gross profit(or loss): 5,539 (1,199)
Distribution costs: 0 0
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): 5,539 (1,199)
Interest receivable and similar income: 8 11
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 5,547 (1,188)
Tax: 0 0
Profit(or loss) for the financial year: 5,547 (1,188)

RAINHILL ARTS COLLEGE CIC

Balance sheet

As at 31 August 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 25,554 110,077
Investments:   0 0
Total current assets: 25,554 110,077
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 3 ( 19,404 ) ( 109,474 )
Net current assets (liabilities): 6,150 603
Total assets less current liabilities: 6,150 603
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 6,150 603
Members' funds
Profit and loss account: 6,150 603
Total members' funds: 6,150 603

The notes form part of these financial statements

RAINHILL ARTS COLLEGE CIC

Balance sheet statements

For the year ending 31 August 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 12 December 2024
and signed on behalf of the board by:

Name: David Boyer
Status: Director

The notes form part of these financial statements

RAINHILL ARTS COLLEGE CIC

Notes to the Financial Statements

for the Period Ended 31 August 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Other accounting policies

    Basic financial liabilities - Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. lf not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities - Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

RAINHILL ARTS COLLEGE CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

RAINHILL ARTS COLLEGE CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 0 0
Other creditors 19,404 109,474
Total 19,404 109,474

COMMUNITY INTEREST ANNUAL REPORT

RAINHILL ARTS COLLEGE CIC

Company Number: 06679357 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

Rainhill Arts College CIC was created to support, nurture and facilitate the positive education, social and personal development of the school and local community surrounding Rainhill High School. The organisation has given the local community, especially young people, the opportunity to embrace new activities and experiences through the programmes and activities offered. The facility operates from within the school buildings and benefits from on-site collaboration with key partners such as Rainhill Parish Council, Liverpool Institute or Performing Art (LIPA) and the Fowler Education Football Academy. Any profit generated has, and will continue to be, reinvested into the Rainhill High School (Stephenson MAT) budget to maintain and improve the facilities for the pupils at the school and consequently have a positive impact on not only their personal, social and economic well-being but that of the wider community as well.

Consultation with stakeholders

The stakeholders arc the users of the facility, school staff and the wider local community. Stakeholders arc consulted regularly when they make use of the facility throughout the school day, out of school hours and through their attendance at numerous 'one-off events staged at the school. The Community Use Officer has responsibility for coordinating the bookings and events associated with Rainhill Arts College CIC and regularly seeks feedback from stakeholders (through informal conversations as well as formal methods such as questionnaires and quarterly meetings with stakeholders) before passing that feedback to the Directors of the company, who take any necessary action to ensure the continued success and positive impact of the company. A short annual report regarding stakeholder feedback is submitted by the Community Use Officer to the Directors on an annual basis.

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
12 December 2024

And signed on behalf of the board by:
Name: David Boyer
Status: Director