FOUNTAIN ARTS CIC

Company limited by guarantee

Company Registration Number:
14164669 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 1 July 2023

End date: 30 June 2024

FOUNTAIN ARTS CIC

Contents of the Financial Statements

for the Period Ended 30 June 2024

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

FOUNTAIN ARTS CIC

Profit And Loss Account

for the Period Ended 30 June 2024

2024 13 months to 30 June 2023


£

£
Turnover: 16,949 5,591
Cost of sales: ( 2,070 ) ( 1,123 )
Gross profit(or loss): 14,879 4,468
Administrative expenses: ( 20,054 ) ( 18,946 )
Other operating income: 5,602 13,416
Operating profit(or loss): 427 (1,062)
Profit(or loss) before tax: 427 (1,062)
Profit(or loss) for the financial year: 427 (1,062)

FOUNTAIN ARTS CIC

Balance sheet

As at 30 June 2024

Notes 2024 13 months to 30 June 2023


£

£
Fixed assets
Tangible assets: 3 770 1,156
Total fixed assets: 770 1,156
Current assets
Cash at bank and in hand: 3,036 2
Total current assets: 3,036 2
Creditors: amounts falling due within one year: 4 ( 4,441 ) ( 2,220 )
Net current assets (liabilities): (1,405) (2,218)
Total assets less current liabilities: (635) ( 1,062)
Total net assets (liabilities): (635) (1,062)
Members' funds
Profit and loss account: (635) ( 1,062)
Total members' funds: ( 635) (1,062)

The notes form part of these financial statements

FOUNTAIN ARTS CIC

Balance sheet statements

For the year ending 30 June 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 10 June 2025
and signed on behalf of the board by:

Name: Michael Burkitt
Status: Director

The notes form part of these financial statements

FOUNTAIN ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 June 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

FOUNTAIN ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    2024 13 months to 30 June 2023
    Average number of employees during the period 0 0

FOUNTAIN ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 July 2023 1,542 1,542
Additions
Disposals
Revaluations
Transfers
At 30 June 2024 1,542 1,542
Depreciation
At 1 July 2023 386 386
Charge for year 386 386
On disposals
Other adjustments
At 30 June 2024 772 772
Net book value
At 30 June 2024 770 770
At 30 June 2023 1,156 1,156

FOUNTAIN ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Creditors: amounts falling due within one year note

2024 13 months to 30 June 2023
£ £
Trade creditors 572 2,220
Accruals and deferred income 3,869
Total 4,441 2,220

COMMUNITY INTEREST ANNUAL REPORT

FOUNTAIN ARTS CIC

Company Number: 14164669 (England and Wales)

Year Ending: 30 June 2024

Company activities and impact

Fountain Arts CIC is based in Scunthorpe, North Lincolnshire, UK. Our purpose is to develop the use of inactive spaces for artists to engage people in creative or cultural experiences as part of their daily lives to improve health and wellbeing. Since June 2023, 8 more people have booked regular monthly studio spaces to create work in our supportive studio environment on Jubilee Way. We have created opportunities for artists to exhibit and showcase their work in eight public art exhibitions, all free to attend Thursday to Saturday, attracting 1,789 visitors. These exhibitions are supported by a dedicated team of 18 regular volunteers, an increase of 8 from the previous year. Every exhibition is accompanied by an activity providing a chance for our intergenerational audiences to be creative. In addition we delivered eight creative courses for young people and adults, covering a wide range of subjects including: Drawing, Painting, Character Design and Figure Drawing, advancing the education of children, young people and residents in the subject of creative industry.

Consultation with stakeholders

We hold monthly consultations with our artists and volunteers to gather feedback and guide our ongoing work. In addition, members of the wider creative community are invited to share their views at our monthly Creative Social events. An annual stakeholder consultation was held in June 2024, open to all members of our creative community, who were encouraged to attend and contribute their feedback. We also actively collect input through Open Studio events and exit surveys completed by participants in our courses and workshops. This ongoing dialogue helps shape our provision and ensures it remains relevant, inclusive, and responsive to community needs.

Directors' remuneration

This information is included within the accounts. £7,152 was paid to a Director for project delivery, management and co-ordination.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
10 June 2025

And signed on behalf of the board by:
Name: Michael Burkitt
Status: Director