for the Period Ended 31 October 2025
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
for the Period Ended
| 2025 | ||
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£ |
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| Turnover: |
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| Cost of sales: |
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| Gross profit(or loss): |
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| Distribution costs: |
(
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| Administrative expenses: |
(
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| Other operating income: |
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| Operating profit(or loss): |
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| Interest receivable and similar income: |
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| Interest payable and similar charges: |
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| Profit(or loss) before tax: |
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| Tax: |
(
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| Profit(or loss) for the financial year: |
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As at
| Notes | 2025 | ||
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£ |
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| Fixed assets | |||
| Intangible assets: |
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| Tangible assets: |
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| Investments: |
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| Total fixed assets: |
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| Current assets | |||
| Stocks: |
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| Debtors: |
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| Cash at bank and in hand: |
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| Investments: |
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| Total current assets: |
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| Prepayments and accrued income: |
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| Creditors: amounts falling due within one year: | 3 |
(
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| Net current assets (liabilities): |
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| Total assets less current liabilities: |
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| Creditors: amounts falling due after more than one year: |
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| Provision for liabilities: |
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| Accruals and deferred income: |
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| Total net assets (liabilities): |
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| Members' funds | |||
| Profit and loss account: |
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| Total members' funds: |
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The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 October 2025
Basis of measurement and preparation
Turnover policy
Other accounting policies
for the Period Ended 31 October 2025
| 2025 | ||
|---|---|---|
| Average number of employees during the period |
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for the Period Ended 31 October 2025
| 2025 | ||
|---|---|---|
| £ | ||
| Bank loans and overdrafts |
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| Amounts due under finance leases and hire purchase contracts |
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| Trade creditors |
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| Taxation and social security |
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| Accruals and deferred income |
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| Other creditors |
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| Total |
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During the financial year, KLAT MAG CIC worked to celebrate, document and support emerging creatives, entrepreneurs and cultural leaders across Wales through storytelling, creative development and community engagement. Throughout the year, the company produced editorial features, photography, video content and interviews that showcased the work of creatives across a range of disciplines, helping to increase their visibility and connect them with wider audiences. KLAT also documented cultural events across Wales and created platforms that encouraged collaboration, promoted creative talent and celebrated the diversity of the Welsh creative sector. During the year, KLAT secured public funding to expand its community impact, including support from Arts Council of Wales for the KLAT DJ Takeover mentorship programme, designed to support emerging DJs from underrepresented communities through skills development, mentoring and industry opportunities. The organisation also secured National Lottery Community Fund support for the AMPLIFY: Young Voices Wales programme, which provides young people with opportunities to develop podcasting, digital storytelling and media production skills. KLAT continued to build partnerships with cultural organisations, businesses and educational institutions across Wales, strengthening opportunities for collaboration and supporting the development of a more inclusive creative sector. Through its activities, the company benefited the community by increasing representation, creating opportunities for emerging talent, encouraging community participation in the arts and helping creatives develop their skills, confidence and professional networks.
The company's key stakeholders during the financial year included emerging creatives, artists, entrepreneurs, community organisations, collaborators, audience members, volunteers, educational institutions and funding partners. Stakeholder consultation took place through one-to-one meetings, community events, networking sessions, social media engagement, feedback from creative projects, and ongoing discussions with collaborators, participants and partner organisations. Feedback consistently highlighted the need for greater visibility for emerging creatives, more opportunities to build professional networks, increased access to creative development and first-hand industry experience. In response, the company continued to expand its storytelling activities, strengthened partnerships with organisations across Wales, and developed new initiatives, including the KLAT Awards, to recognise and celebrate creative talent. The company also created opportunities for young people to gain first-hand insight into the creative industries by connecting them with major cultural events and organisations, including BAFTA Cymru, the Black Welsh Music Awards and other industry partners, enabling them to work alongside professionals and build valuable industry experience. This feedback has continued to shape the organisation's activities and future programme development.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
26 July 2026
And signed on behalf of the board by:
Name: Taiye Omokore
Status: Director