MINING EXCHANGE STUDIOS CIC

Company Registration Number:
13409834 (England and Wales)

Unaudited statutory accounts for the year ended 20 November 2024

Period of accounts

Start date: 21 November 2023

End date: 20 November 2024

MINING EXCHANGE STUDIOS CIC

Contents of the Financial Statements

for the Period Ended 20 November 2024

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

MINING EXCHANGE STUDIOS CIC

Directors' report period ended 20 November 2024

The directors present their report with the financial statements of the company for the period ended 20 November 2024

Principal activities of the company

CIC Art Gallery & Shop run by resident artists and volunteers for community benefit.

Company policy on disabled employees

We actively include and encourage artists with additional support needs. Currently proud to have approx. 20% of our artists (with additional support needs) who sell their art and volunteer in the gallery/shop.



Directors

The directors shown below have held office during the whole of the period from
21 November 2023 to 20 November 2024

Philip Kincaid
Barbara Laing
Tracey Irish


The director shown below has held office during the period of
10 December 2023 to 20 November 2024

Robert Swinburne


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
23 May 2025

And signed on behalf of the board by:
Name: Barbara Laing
Status: Director

MINING EXCHANGE STUDIOS CIC

Profit And Loss Account

for the Period Ended 20 November 2024

2024 2023


£

£
Turnover: 16,058 17,138
Cost of sales: ( 7,882 ) ( 8,575 )
Gross profit(or loss): 8,176 8,563
Administrative expenses: ( 8,362 ) ( 8,429 )
Other operating income: 449 885
Operating profit(or loss): 263 1,019
Profit(or loss) before tax: 263 1,019
Profit(or loss) for the financial year: 263 1,019

MINING EXCHANGE STUDIOS CIC

Balance sheet

As at 20 November 2024

Notes 2024 2023


£

£
Current assets
Cash at bank and in hand: 3,338 3,330
Total current assets: 3,338 3,330
Creditors: amounts falling due within one year: 3 ( 3,065 ) ( 2,321 )
Net current assets (liabilities): 273 1,009
Total assets less current liabilities: 273 1,009
Total net assets (liabilities): 273 1,009
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 263 999
Total Shareholders' funds: 273 1,009

The notes form part of these financial statements

MINING EXCHANGE STUDIOS CIC

Balance sheet statements

For the year ending 20 November 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 23 May 2025
and signed on behalf of the board by:

Name: Barbara Laing
Status: Director

The notes form part of these financial statements

MINING EXCHANGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 20 November 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

MINING EXCHANGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 20 November 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

MINING EXCHANGE STUDIOS CIC

Notes to the Financial Statements

for the Period Ended 20 November 2024

3. Creditors: amounts falling due within one year note

2024 2023
£ £
Other creditors 3,065 2,321
Total 3,065 2,321

COMMUNITY INTEREST ANNUAL REPORT

MINING EXCHANGE STUDIOS CIC

Company Number: 13409834 (England and Wales)

Year Ending: 20 November 2024

Company activities and impact

Mining Exchange Studios CIC continues to provide affordable workspaces, now numbering eight, to local artists/craftspeople and providing about 65 other local artists, artisans, craftspeople and performers access to the Gallery/Shop to display and sell their work at an affordable cost. We have continued to actively encourage the inclusion of local creative talent who have supplementary support needs and have over 20 volunteers and creatives who are actively contributing to the business and its events. We provide practical support, encouragement and mentoring for artists venturing into exhibition or education. This has included a joint exhibit at the local Krowji and a verse/theatre performance in St Andrew’s Church Crypt.

Consultation with stakeholders

There is now a well-established, diverse and supporting community of people who are associated with Mining Exchange Studios CIC including street dwellers, people with so-called disabilities, senior citizens, SEND, teenagers, teachers, professional artists, performers, musicians, people who are transgendered, those with hearing or sight difficulties and members of the local council. This has engendered a true sense of social cohesion.

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
23 May 2025

And signed on behalf of the board by:
Name: Philip Kincaid
Status: Director