BLACKHORSE WORKSHOP CIC

Company limited by guarantee

Company Registration Number:
08659588 (England and Wales)

Unaudited statutory accounts for the year ended 31 August 2025

Period of accounts

Start date: 1 September 2024

End date: 31 August 2025

BLACKHORSE WORKSHOP CIC

Contents of the Financial Statements

for the Period Ended 31 August 2025

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

BLACKHORSE WORKSHOP CIC

Balance sheet

As at 31 August 2025

Notes 2025 2024


£

£
Fixed assets
Tangible assets: 3 45,577 57,658
Total fixed assets: 45,577 57,658
Current assets
Stocks: 4 3,620 3,892
Debtors: 5 14,366 31,752
Cash at bank and in hand: 41,336 50,027
Total current assets: 59,322 85,671
Creditors: amounts falling due within one year: 6 ( 56,393 ) ( 79,326 )
Net current assets (liabilities): 2,929 6,345
Total assets less current liabilities: 48,506 64,003
Creditors: amounts falling due after more than one year: 7 ( 6,741 )
Total net assets (liabilities): 48,506 57,262
Members' funds
Profit and loss account: 48,506 57,262
Total members' funds: 48,506 57,262

The notes form part of these financial statements

BLACKHORSE WORKSHOP CIC

Balance sheet statements

For the year ending 31 August 2025 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 15 May 2026
and signed on behalf of the board by:

Name: Ruch Pathirana
Status: Director

The notes form part of these financial statements

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

  • 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 20% Reducing Balance Fixtures & Fittings Straight line - 10 years

    Other accounting policies

    2.4. Stocks and Work in Progress Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. 2.5. Government Grant Government grants are recognised in the income and expenditure account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute. Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income and expenditure account. Grants towards general activities of the entity over a specific period are recognised in the income and expenditure account over that period. Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income and expenditure account over the useful life of the asset concerned. All grants in the income and expenditure account are recognised when all conditions for receipt have been complied with.

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

  • 2. Employees

    2025 2024
    Average number of employees during the period 19 24

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 September 2024 157,045 64,073 64,722 285,840
Additions 1,153 1,153
Disposals
Revaluations
Transfers
At 31 August 2025 157,045 65,226 64,722 286,993
Depreciation
At 1 September 2024 157,045 32,304 38,833 228,182
Charge for year 6,762 6,472 13,234
On disposals
Other adjustments
At 31 August 2025 157,045 39,066 45,305 241,416
Net book value
At 31 August 2025 0 26,160 19,417 45,577
At 31 August 2024 0 31,769 25,889 57,658

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

4. Stocks

2025 2024
£ £
Stocks 3,620 3,892
Total 3,620 3,892

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

5. Debtors

2025 2024
£ £
Trade debtors 8,613 16,560
Other debtors 5,753 15,192
Total 14,366 31,752

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

6. Creditors: amounts falling due within one year note

2025 2024
£ £
Bank loans and overdrafts 8,563 10,644
Trade creditors 3,511 13,325
Taxation and social security 12,380 20,197
Other creditors 31,939 35,160
Total 56,393 79,326

BLACKHORSE WORKSHOP CIC

Notes to the Financial Statements

for the Period Ended 31 August 2025

7. Creditors: amounts falling due after more than one year note

  2024
  £
Bank loans and overdrafts 6,741
Total   6,741

COMMUNITY INTEREST ANNUAL REPORT

BLACKHORSE WORKSHOP CIC

Company Number: 08659588 (England and Wales)

Year Ending: 31 August 2025

Company activities and impact

Blackhorse Workshop is a community space for making and creativity with a fully equipped wood and metal workshop and studio spaces in Walthamstow. Education Delivered courses teaching woodwork and metalwork to 1186 adults. This included health and safety induction training session to 365 adults who are now qualified to use our open access wood and metal workshops. Delivered machine, power tool or hand tool induction training sessions to teach use of workshop machinery to 420 adults. 216 young people took part in our Family Make Stuff Club weekend sessions and after school club. This year this included a free 2 day holiday club with 8 young people building a play station for a new community garden in the area. Three groups from two Special Educational Needs Schools, attended weekly sessions to learn practical design technology and creative skills. We also worked with a self-organised groups of Muslim home schooling families, on a weekly basis for 2 terms, teaching 10 families. A second groups joined for 2 trial sessions, reaching another 10 families. We hosted 10 Creative Careers Experiential tours from 8 different school and colleges.4 young people attended for work experience, 2 of whom attended on a weekly basis for either two school terms or the full school year. Our youth programmes reached a further 102 people through partnership events with V&A East, InCommon and East London Scouts. Blackhorse Responders, our award-winning creative activism programme worked with 15 young people who live, work or study in Waltham Forest over a 5 month programme. for 16-25 year old makers.Responders learnt practical, creative and communication and teamworking skills, they met artists and creatives working in diverse artforms and from diverse backgrounds. Using their new skills the young people each created a new piece of socially engaged scultpure which they exhibition at a community space in Chingford, with over 100 people visiting during the open day. Blackhorse Responders programme is designed to provide a third, safe space for young people who do not yet see themselves as create nor an active part of their community, 100% of the 2025 cohort saw themselves as included and active in their local community, and were able to recognise the development in their own making and creative skills. 100% of participants reported feeling more confident in speaking publicly and with people who they perceived as different from themselves by the end of the programme. In their final evaluation Responders reported a 58% increase in agreement with the statement ‘I feel like I am challenging myself in a positive way’, a 81.5% increase in the statement ‘I feel like my voice is heard and my opinions are listened to’, and a 55% increase in ‘I volunteer to speak in front of people’. Activators, our alumni programme to Responders benefited 40 young people this year who have attended workshops, facilitating workshops within our programmes and community events, and progressed to paid work experience opportunities within Blackhorse Workshop. This year Blackhorse Activator: exhibited and sold graphic posters co-created with Europa and What If Projects; and worked with V&A East and local design studios to co-create permanent activities new museum. Business Support We provided shared tools, equipment and affordable workspace to 62 creative businesses, who rent affordable studio space at our workshop. Members work was showcased on our website, social media and at an Open Studios event for London Design Festival. We also pass on commission requests from our networks to our members.Our studio membership offer is focused on emerging makers, with 86% of members businesses being less than 5yrs old and 58% of our members being new businesses established 2yrs or less. Members make approx 700 daily bench bookings in our workshop each month, 16% of these are Open Access users who don’t have a studio space here and pay by the day for affordable workshop access. This includes Concessions Club, individuals in receipt of benefits who can access courses for free and book bench space with an 85% discount. We have provided open access bench bookings for all members of the public who have completed a H&S induction, in both our wood and metal workshops. Community Events Our Community Kitchen ran monthly throughout the year, offering a Pay-What -You-Can hot evening meal. 3 Free Family Discos over the year hosted approx. 40 people per event. In December, it was our annual Christmas market hosted approx.150 visitors and 18 creatives selling their work. Other activities 3 emerging creatives benefited from 3 months of free studio space, workshop access and technical support by taking part in our Creative Residency Programme. Our offer for local families included: Maker Noons a free intergenerational making sessions was delivered every Friday afternoon to a regular cohort of residents at-risk of isolation, run by a committed volunteer.

Consultation with stakeholders

The company's stakeholders are it’s studio residents, open access members, course participants, youth programmes, partners, staff and board of directors. Course evaluation is undertaken at the end of every course delivered, and the feedback has been incorporated and their structure modified. New courses are continuously developed to meet the interests and needs of attendees. Studio members are represented both on the staff and board teams. Quarterly membership meetings plus additional socials, are used to consult with members. Members are invited to take part in public events, as demonstrators, selling or exhibiting their work. And opportunities for commissions, small jobs or business development are shared at least weekly via a membership email list. Any further feedback is invited via a dedicated email address, advertised around the site.

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 May 2026

And signed on behalf of the board by:
Name: Ruch Pathirana
Status: Director