KLAT MAG CIC

Company limited by guarantee

Company Registration Number:
16048995 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2025

Period of accounts

Start date: 29 October 2024

End date: 31 October 2025

KLAT MAG CIC

Contents of the Financial Statements

for the Period Ended 31 October 2025

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

KLAT MAG CIC

Profit And Loss Account

for the Period Ended 31 October 2025

2025


£
Turnover: 46,980
Cost of sales: 0
Gross profit(or loss): 46,980
Distribution costs: ( 2,392 )
Administrative expenses: ( 31,017 )
Other operating income: 0
Operating profit(or loss): 13,571
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: 13,571
Tax: ( 2,578 )
Profit(or loss) for the financial year: 10,993

KLAT MAG CIC

Balance sheet

As at 31 October 2025

Notes 2025


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors:   0
Cash at bank and in hand: 15,394
Investments:   0
Total current assets: 15,394
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 3 ( 2,578 )
Net current assets (liabilities): 12,816
Total assets less current liabilities: 12,816
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 12,816
Members' funds
Profit and loss account: 12,816
Total members' funds: 12,816

The notes form part of these financial statements

KLAT MAG CIC

Balance sheet statements

For the year ending 31 October 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.

This report was approved by the board of directors on 28 July 2026
and signed on behalf of the board by:

Name: Taiye Omokore
Status: Director

The notes form part of these financial statements

KLAT MAG CIC

Notes to the Financial Statements

for the Period Ended 31 October 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 Turnover is recognised when goods are delivered or services are provided.

    Other accounting policies

    Taxation Corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Debtors Debtors are recognised at the settlement amount due. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments. Creditors Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event.

KLAT MAG CIC

Notes to the Financial Statements

for the Period Ended 31 October 2025

  • 2. Employees

    2025
    Average number of employees during the period 6

    Number of employees was 6, but none of those were having contracts or received wages via payroll.

KLAT MAG CIC

Notes to the Financial Statements

for the Period Ended 31 October 2025

3. Creditors: amounts falling due within one year note

2025
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 2,578
Accruals and deferred income 0
Other creditors 0
Total 2,578

COMMUNITY INTEREST ANNUAL REPORT

KLAT MAG CIC

Company Number: 16048995 (England and Wales)

Year Ending: 31 October 2025

Company activities and impact

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.

Consultation with stakeholders

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.

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
26 July 2026

And signed on behalf of the board by:
Name: Taiye Omokore
Status: Director