for the Period Ended 30 November 2025
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 November 2025
Additional information
Report and Financial information for The Lost ARC CIC, 9889473 1st December, 2024 -30th November, 2025 Although the financial report for December 2024 made depressing reading the start of the year was filled with optimism with the new board of directors keen to take on their roles and make a difference. The first meetings were held at the start of 2025 with input from Amy as a consultant with experience with CICs. Tim and Ady agreed to take on the joint chairing of the board. Financial support for the Cafe Manager and Volunteer Coordinator roles ended in January with impact on the organisation's staffing structure and ongoing expenditure. We needed to consider how the responsibilities covered by these roles could be managed effectively within the available resources whilst maintaining continuity of service and appropriate support. A huge debt of gratitude was owed to Suzy for taking on the not insubstantial task of updating the Employee handbook, contracts and job descriptions and HR processes. Work was also being done with Tracy to look at the implications for the business following changes to NI contributions and NLW. First impressions suggested that increases to employer contribution to NI would be offset by increased Employment Allowance. However, the reality arriving in April showed a significant increase of around 50% The financial report was presented to the directors in order to highlight losses and to look at ways for redressing these and ways to restructure. It was agreed that there was a need for an operations manager to provide financial oversight. In August 2025 after receiving very positive applications for the post and a rigorous interview process, Ross Lake was appointed as Operations Manager. A key priority was to establish clear targets and objectives, supported by regular financial reporting, thus enabling the directors to identify emerging issues and make informed decisions. Looking at the cafe costing was given to Kim to ensure that our menu was affordable but profitable, and Ross set reducing labour costs as his first priority. With hindsight we needed to have ensured that staff relationships were being more carefully supported - by the end of the year the differences in working practises led to a culture which became toxic, culminating in an outgoing employee filing an official complaint, the investigation into which occupied the time of two of our new board of directors. On a positive note the changes implemented were beginning to show small financial gains. The funding that had been offered by Creative Wales had been allocated to improvements for artists and audiences was being well received. But, our limited cashflow meant that the delay in receiving the repayment was further compromising our finances. We face an uncertain year ahead. Ian Brown, February, 2026
Directors
The directors shown below have held office during the whole of the period from
1 December 2024
to
30 November 2025
The director shown below has held office during the period of
1 December 2024
to
18 July 2025
The director shown below has held office during the period of
1 December 2024
to
12 March 2025
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
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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 30 November 2025
Basis of measurement and preparation
for the Period Ended 30 November 2025
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for the Period Ended 30 November 2025
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for the Period Ended 30 November 2025
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PART 1 GENERAL DESCRIPTION OF THE COMPANY'S ACTIVITIES AND IMPACT In the space provided below, please insert a general account of the company's activities in the financial year to which the report relates, including a description of how they have benefited the community. The aims of The Lost ARC are to provide quality live music and arts events in Rhayader. The company also operates a cafe and is able to provide a community space for events and activities in line with our ethos. 2024 - 2025 has seen another successful year of programming, building on our reputation for bringing quality original live music to a rural audience and meeting a self-imposed target of an average frequency of fortnightly ticketed events. The Homegrown series was successfully extended. Two local artists Toby Hay, who is now receiving world-wide acclaim and Bag of Cats chose our venue to launch new albums. The scheduled events featured artists from all over the world and this year again many of our audience left amazed and delighted with the quality of artists, many commenting on how incredible it is to experience these artists in the heart of rural Mid Wales. With the support of Creative Wales, at the end of this financial year, we began a series of improvements to our stage and to our sound system offering an incredible experience to our artists and providing an enhanced audience experience. This will be continued into next year. In addition to our ticketed programme we have hosted regular Open Mic events, Community singing, Dance Flow nights, a Clothes Swap, a Music Tech Taster event led by MPYT a local youth theatre group. The foyer and cafe has been used to exhibit local art work, and a Save the Wye' display, which is regularly updated by two of our local citizen scientists. This year we again worked closely with The Arches, our local community Trust, we continue our 'pay-it-forward' vouchers and have coordinated with the Arches food bank administrator to look at more effective ways of reaching those who would benefit most from the generosity of our customers. We have combined with The Arches to provide kitchen and cafe space for their cooking club. We are a weekly drop off point for the Coop overstock which is given to the community. We are also a drop off and collection point for a local producer providing local and organic veg and fruit bags. We remain registered as a Warm Space for the community. The Make and Mingle sessions open to all, continued to be enjoyed by a range of attendees. We also hosted a very busy and enjoyable Pumpkin Carving event for Halloween using pumpkins which had been grown on a local farm. We have a number of regular volunteers supporting our free Open Mic sessions and supporting other gigs and helping in the garden. We have worked closely with other organisations in the region promoting the area as a tourist destination to the benefit of all businesses within the community. The Christmas Day lunch continues to be well attended and enjoyed by local residents and is supported by volunteers in the build up and on the day. We have continued the link with the Music Venues Trust and members of their Music Venues Alliance, and our events coordinator remains a member of the Music Venue Trust Wales steering committee, a lobbying group for the music industry. Our links with the Noson Allan initiative continue to facilitate performances that would otherwise not be financially possible to bring to a small venue in rural Mid-Wales.
PART 2 – CONSULTATION WITH STAKEHOLDERS – A “stakeholder” is any person or organisation affected by the company’s activities. Please indicate who the company’s stakeholders are; how the stakeholders have been consulted and what action has the company taken in response to feedback from its consultations. If there has been no consultation you must state ‘There has been no stakeholder consultation held’. The stakeholders in The Lost ARC are local residents, local businesses, local and visiting artists, musicians and performers as well as tourists and other visitors to the area. We continue to have regular discussion with local groups and organisations. Informal discussions with audience and patrons continue to shape our output and this has been formalised with the implementation of feedback forms with the addition of a QR code to simplify the customer experience. Social Media platforms remain key parts of our communication and feedback – we obviously read and respond to all reviews and act on recommendations where it makes sense to do so. Without continued funding for a volunteer coordinator, we have relied on our online groups to maintain and coordinate our volunteer base. Our Events Manager follows up on all artist experiences which continue to be overwhelmingly positive. We have also had universal approval for the quality of sound since making improvements which has directly increased the number of amateur artists attending. We support local festivals and events, including Rhayader carnival – we work particularly closely with the team that arrange the Groe Gathering, (a free live music event that is a part of the Carnival week) loaning equipment and supporting their technical team. We meet with other town organisations and with Elan Links, regularly meeting with their visitor attractions manager. We attend business group meetings facilitated by Rhayader Town Council and remain members of the BOBB group organised by the Community Police.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
20 February 2026
And signed on behalf of the board by:
Name: Ian Brown
Status: Director