for the Period Ended 31 March 2022
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
As at
Notes | 2022 | 2021 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Stocks: | 3 | | |
Debtors: | 4 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 5 | ( | ( |
Total net assets (liabilities): | | | |
Members' funds | |||
Profit and loss account: | | | |
Total members' funds: | | |
The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2022
Basis of measurement and preparation
Turnover policy
for the Period Ended 31 March 2022
2022 | 2021 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 March 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Stocks | | |
Total | |
for the Period Ended 31 March 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Prepayments and accrued income | | |
Other debtors | | |
Total | |
for the Period Ended 31 March 2022
2022 | 2021 | |
---|---|---|
£ | £ | |
Other creditors | | |
Total | | |
The Company has continued to promote and sell the work of local artists and makers at its location in the City Centre. We have continued too to promote and sell the work of students at Freeman College, part of the Ruskin Mill Educational Trust. Due to ongoing concerns about Covid we have not yet felt able to resume provision of work experience placements for Freeman College students, but this is kept under review.We have accepted invitations to participate in local community events, notably Sheffield Heritage Open Days and we ran an event at the Sheffield Winter Gardens Pop Up Shop in September 2021 November 2021 respectively. We also supported two of our full members to participate at our venue in Open Up Sheffield – an Open Studios event. Feedback from our community contacts, artists and makers and customers continues to be very positive, but there has been a severe drop off in footfall and sales since re-opening after lockdowns stopped. The effect of the recession and the rising cost of living means that we keep everything under constant review. One initiative we put in place was to purchase some stock on a wholesale basis for the first time in 2021-22. This was sourced from local artisans and makers (chutneys and sauces, forged iron pieces, cards and artwork from vulnerable former full members, and a range of art materials such as paints and sketchbooks from a UK based supplier. We also bought some stock from Traidcraft – foods, confectionary and soaps. We have continued this in 22-23.We remain committed to our original objectives and hope to weather the current economic storm.
There has been no formal consultation, but as stated above, informal feedback has been taken into account.
The following directors received commission on goods sold in the shop:Anne Phipps - £610Justine Hutchinson - £61The following directors received expenses payable for the following:Anne Phipps - £209 volunteer costs (travel and subsistence)Justine Hutchinson - £8 volunteer costs (travel and subsistence)Sarah Catterall - £200 website development costs (advertising)Alexandra McArthur - £2,200 social media development (advertising)There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
13 December 2022
And signed on behalf of the board by:
Name: Anne Phipps
Status: Director