FRANK FAIR ARTIST PAY CIC

Company limited by guarantee

Company Registration Number:
14279985 (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

FRANK FAIR ARTIST PAY CIC

Contents of the Financial Statements

for the Period Ended 31 August 2024

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

FRANK FAIR ARTIST PAY CIC

Balance sheet

As at 31 August 2024

Notes 2024 13 months to 31 August 2023


£

£
Current assets
Debtors: 3 1,024 1,024
Cash at bank and in hand: 1,758 500
Total current assets: 2,782 1,524
Creditors: amounts falling due within one year: 4 ( 1,493 ) ( 1,250 )
Net current assets (liabilities): 1,289 274
Total assets less current liabilities: 1,289 274
Total net assets (liabilities): 1,289 274
Members' funds
Profit and loss account: 1,289 274
Total members' funds: 1,289 274

The notes form part of these financial statements

FRANK FAIR ARTIST PAY 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 31 May 2025
and signed on behalf of the board by:

Name: Fatos Ustek
Status: Director

The notes form part of these financial statements

FRANK FAIR ARTIST PAY 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 comprises the invoiced value of goods and services supplied by the company plus grants received, net of Value Added Tax (where VAT registered) and trade discounts.

FRANK FAIR ARTIST PAY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

  • 2. Employees

    2024 13 months to 31 August 2023
    Average number of employees during the period 0 0

FRANK FAIR ARTIST PAY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

3. Debtors

2024 13 months to 31 August 2023
£ £
Trade debtors 1,024 1,024
Total 1,024 1,024

FRANK FAIR ARTIST PAY CIC

Notes to the Financial Statements

for the Period Ended 31 August 2024

4. Creditors: amounts falling due within one year note

2024 13 months to 31 August 2023
£ £
Taxation and social security 302 64
Accruals and deferred income 255 250
Other creditors 936 936
Total 1,493 1,250

COMMUNITY INTEREST ANNUAL REPORT

FRANK FAIR ARTIST PAY CIC

Company Number: 14279985 (England and Wales)

Year Ending: 31 August 2024

Company activities and impact

Published FRANK Tools in June 2024: Launched the set of FRANK tools that were developed last financial year to support fair practice in the arts, fair pay and transparent collaboration: 1.FRANK Principles & Guidance: Seven core values promoting fairness and equity in the arts. 2. FRANK Fair Pay Calculator: Helps estimate appropriate artist fees based on project specifics. 3. FRANK x Canvas Art Law Pre-Contractual Review: Supports mutual understanding before contracts are signed. 4. Production Budget Template: Aids artists in outlining project costs clearly. 5. Contract Checklist: Guides artists and commissioners through key contract elements. Community engagement: 1. Held 6 focus groups to gather feedback and refine tools based on real user experiences. 2. Launched a redesigned website improving accessibility and functionality. 3. Introduced the FRANK Community, a members-only space for workshops, forums and peer support. Capacity building and consultancy: 1. Delivered consultancy for E-WERK Luckenwalde and Motherhouse Studios, supporting fair team management, budgeting and care-based practices. Sector Advocacy and Policy Influence: 1. Contributed to an 80-organisation manifesto advocating for policy change to support the UK’s visual arts sector. 2. Director Fatos Ustek participated in key events including the Art Business Conference, DACS’ 40th Anniversary Symposium and contributed to podcasts and articles on fair pay. 3. Project Manager Celina Loh contributed to a policy brief for IETM on fair pay in the arts across Europe. Knowledge Sharing: 1. Issued a bi-monthly FRANK Newsletter to share updates, resources and community stories. 2. Organised the FRANK Summit (June 2024) to launch tools and spark sectorwide conversations about equitable collaboration. 3. Planning a UK Arts Ecology Summit (happening Nov 2025) in partnership with CVAN, DACS, a-n, Artist Union England. Community Benefit: 1. FRANK’s tools and activities have improved artists' ability to advocate for fair pay, increased contract literacy and supported institutions in embedding equitable practices. 2. By promoting transparency and shared accountability, FRANK contributes to a more inclusive, sustainable, and supportive arts ecosystem in the UK. 3. Freelancers and marginalised practitioners feel more able to ask for what they need to work safely and sustainably.

Consultation with stakeholders

Our stakeholders include over 80 artists and creative practitioners, five founding members (including Camden Art Centre and CVAN) and 24 member organisations and galleries such as Delfina Foundation, DASH and others. How stakeholders have been consulted: 1. 6 Focus Groups were held (Sep–Nov 2023) with artists, producers, and small-to-midscale institutions to explore real-life obstacles to fair pay and collaborative working. 2. We hosted a FRANK Summit (June 2024), gathering over 150 participants online and in person, offering workshops, listening space and co-creation labs focused on fair practice, budgeting and access. 3. Facilitated peer-to-peer roundtables and one-to-one feedback sessions during tool prototyping stages. 4. Carried out informal consultation and knowledge exchange with aligned organisations. 5. Collected feedback through our newsletter and website, which led to ongoing refinements of language, access, and tool usability. Action taken in response to consultation: 6. Redesigned FRANK tools to be clearer, less overwhelming and more accessible for neurodivergent artists and those with access needs. 7. Simplifying the FRANK x CAL Pre-Contractual Review to reduce emotional labour and ensure it's usable even with tight timelines. 8. Developed a Production Budget Template in direct response to members asking for support on it

Directors' remuneration

£4,000 was paid during the year in relation to cost of services provided by the directors.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
31 May 2025

And signed on behalf of the board by:
Name: Fatos Ustek
Status: Director