NEW WAVE ARTS CIC

Company limited by guarantee

Company Registration Number:
12889174 (England and Wales)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

NEW WAVE ARTS CIC

Contents of the Financial Statements

for the Period Ended 30 September 2024

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

NEW WAVE ARTS CIC

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 9,038 7,462
Cost of sales: ( 9,038 ) ( 7,462 )
Gross profit(or loss): 0 0
Operating profit(or loss): 0 0
Profit(or loss) before tax: 0 0
Profit(or loss) for the financial year: 0 0

NEW WAVE ARTS CIC

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 250 1,100
Total fixed assets: 250 1,100
Current assets
Cash at bank and in hand: 90 379
Total current assets: 90 379
Net current assets (liabilities): 90 379
Total assets less current liabilities: 340 1,479
Accruals and deferred income: ( 340 ) ( 1,479 )
Total net assets (liabilities): 0 0
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

NEW WAVE ARTS CIC

Balance sheet statements

For the year ending 30 September 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 15 June 2025
and signed on behalf of the board by:

Name: Jordan Woods
Status: Director

The notes form part of these financial statements

NEW WAVE ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 September 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

    Tangible fixed assets depreciation policy

    Tangible fixed assets are depreciated on a straight-line basis over their estimated useful economic lives, which for asset type is 4 years. Depreciation is calculated on cost less estimated residual value. The residual value is reviewed annually and represents the estimated amount that would currently be obtained from disposal, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

NEW WAVE ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

NEW WAVE ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 1,100 1,100
Additions
Disposals
Revaluations
Transfers
At 30 September 2024 1,100 1,100
Depreciation
At 1 October 2023 0 0
Charge for year 850 850
On disposals
Other adjustments
At 30 September 2024 850 850
Net book value
At 30 September 2024 250 250
At 30 September 2023 1,100 1,100

NEW WAVE ARTS CIC

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Financial Commitments

The company is a community interest company. Unspent donations that are not time limited are deferred to the next period, as the donor intended.

COMMUNITY INTEREST ANNUAL REPORT

NEW WAVE ARTS CIC

Company Number: 12889174 (England and Wales)

Year Ending: 30 September 2024

Company activities and impact

During this financial year, New Wave Arts has continued to focus on The "Walk of Honour", a long-term public art and heritage project that celebrates the vibrant cultural identity of North Kensington. Significant progress has been made, with three of the five commemorative stars now laid down beneath the iconic Westway. Each star represents a key facet of the local community - Community, Market, Sports, Music, and Arts, and has been designed and constructed by local artists. The installation not only honours individuals and groups who have contributed to the area’s unique character, but also enhances the public space by making it more inviting, better lit, and safer for residents and visitors. The project continues to enjoy strong backing from local residents, the council, the Westway Trust, and various community organisations, and remains a powerful symbol of local pride and unity. In addition to progress on the Walk of Honour, New Wave Arts also held a community gala event in December. This public celebration featured performances from local talent, including actors presenting scenes and monologues, and musicians performing live music. The event provided a valuable platform for artists to showcase their work and allowed the community to come together to discover and celebrate the creative talent within the area. The gala was well-received and contributed to our ongoing mission of fostering community cohesion, creative expression, and cultural celebration in North Kensington.

Consultation with stakeholders

As a Community Interest Company, New Wave Arts regards the local community as its primary group of stakeholders. Throughout the year, we have actively engaged with residents, local artists, community leaders, and partner organisations to ensure our projects reflect the needs, values, and aspirations of those we serve. For The Walk of Honour project, community consultation has been an essential part of the creative process. We have hosted informal discussions, attended local forums, and gathered feedback through conversations at events and collaborative meetings with local groups. These interactions have shaped the design and themes of the stars, ensuring they genuinely represent the spirit of North Kensington. The positive response to the installation of the first three stars has affirmed the project’s direction and importance, with many residents expressing pride and appreciation for the recognition of local culture and history. Following our December gala event, we received enthusiastic feedback from both performers and attendees. Many community members expressed gratitude for having a platform to share their talents or to experience the richness of local artistic expression. Several attendees highlighted the event as a rare and meaningful opportunity to come together in a joyful and inclusive space. This feedback has reinforced the value of accessible, community-led cultural programming and will guide our planning for future events.

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
15 June 2025

And signed on behalf of the board by:
Name: Jordan Woods
Status: Director