Registered company number 08846726 Registered charity number 1166043 Registered office 80 Daws Lane, London, United Kingdom, NW7 4SE.
CREATE SPACE LONDON
TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 29th MARCH 2022
Create Space London
Trustees Report for the year ended 29th[th] March 2022
TABLE OF CONTENTS
1. Trustees’ Report
| 1.1 | General and Administrative Information | Page 3 |
|---|---|---|
| 1.2 | Introduction | Page 4 |
| 1.3 | Structure, Governance and Management | Page 4 |
| 1.4 | Public Benefit | Page 5 |
| 1.5 | Our Work and achievements | Page 6 |
| 1.6 | Financial Review | Page 7 |
The Financial Statements and Independent Examiner’s Report for the year end 29th March 2022 accompany this Trustees’ Report.
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Create Space London
Trustees Report for the year ended 29th[th] March 2022
1.1 GENERAL AND ADMINISTRATIVE INFORMATION
Registered office 80 Daws Lane, London, United Kingdom, NW7 4SE. Company number 08846726 (incorporated in England and Wales) Registered charity number 1166043 Directors/Trustees* Lawrence Rose Matt Dennis Appointed 15 November 2021 Resigned 29 September 2022 Paula Hodges Appointed 8 March 2022 Resigned 30 September 2022 Mark Lowman Resigned 10 September 2021 Blanca Regina Perez-Bustamente Resigned 24 July 2021 Afolabi Spence Appointed 21 March 2022 Resigned 1 October 2022
*Trustees of the Charity are also known as Directors of the company.
Bankers
Unity Bank plc
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Create Space London
Trustees Report for the year ended 29th[th] March 2022
1.2 INTRODUCTION
The Directors, henceforth referred to as Trustees, present their report and the financial statements of Create Space London (referred to as the “Charity” in the remainder of this report) for the year ended 29 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) effective 1 January 2015 and applicable UK Accounting Standards (UK GAAP).
1.3 STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is a company limited by guarantee and not having share capital, governed by its Memorandum and Articles of Association dated 15th January 2014. It is registered as a charity with the Charity Commission.
Create Space London was incorporated as a limited company on 15th January 2014 and registered as a charity on 14th March 2016. It commenced activities on 1st December 2016.
Trustees
For the year under review, the charity was managed by its Trustees. Full policies for the appointment of Trustees will be developed in due course.
Management
The day to day management of the Charity is carried out by two general managers. In view of the small size of the charity there are currently no committees.
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Create Space London
Trustees Report for the year ended 29th[th] March 2022
1.4 PUBLIC BENEFIT
The Trustees confirm that they have given due consideration to the Charity Commission’s public guidance on the Public Benefit requirement under the Charities Act 2011.
“Great art and culture inspires us, brings us together and teaches us about ourselves and the world around us. In short, it makes life better.”
The quote is taken from the Arts Council. These are values held at Create Space London (CSL) and we take a very practical approach to these values.
Our aims are:
-
Education (of all types and at all levels) in the fields of the visual, creative and applied arts, design and technology;
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The provision of studios, workshops, galleries and other places where art and innovation may be practised, created or exhibited;
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The provision of facilities for the education, recreation and the practice of art and science in an inclusive, inspiring, inviting community environment.
Create Space London offers short-term all-inclusive workspace at lower than market prices to creative and tech-based practitioners, start-ups and SMEs. Membership of Create Space London is open to all. Careful consideration has been taken into account for the accessibility of those on low income, offering opportunities to a broad range of people, providing them with facilities that creative and technology based individuals need to develop.
The charitable work of the Charity has both direct and indirect benefits to the general public. This type of creative engagement has a real value in terms of enriching the lives of both audience and participants. The environment is inclusive, supportive, educational and developmental, sharing machinery, equipment, resources and knowledge. This creates a community which brings loyalty, free word of mouth advertising and an identity which attracts more people of all ages from retirees to children to teenagers to parents, contributing to the quality of life of the people in Barnet and Brent.
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Trustees Report for the year ended 29th[th] March 2022
Create Space London
1.5 OUR WORK AND ACHIEVEMENTS
Create Space London (CSL) prides itself at providing affordable space and open access equipment for woodwork, screen printing, ceramics and electronics. We cater for professionals all the way through to hobbyists and encourage people to experiment with pursuing their creative and entrepreneurial ambitions in an affordable, supportive and energising environment.
One of the main changes this year is the formalisation of employment. At the beginning of this report, Delfin Ortiz was given a contract, starting in January 2021 as Charitable Manager, and Adam Kuratle-Quinn was appointed Assistant Manager as of February 2021. Relatively quickly it was realised that Adam could not fulfil his responsibilities and handed his notice in April 2021. Parallel to this Delfin moved to Spain in July 2021, with a vast amount of the responsibility to fulfil remotely, it was agreed that the role could not be fulfilled by Delfin alone. With Adam stepping down, a new assistant was required. This role was shared between two people at first, but a restructure became necessary to employ an on-site and an off-site manager. A founder and trustee, Mark Lowman, was asked to fill the part time on site role in September 2021. It was soon realised that more hours were required on-site, and so from January 2022 there are two 0.6 PAYE Managerial positions fulfilling the tasks required.
In respect to the running of both sites, there has been a broad range of activities undertaken this year. Both Willesden and Mill Hill have been streamlined, with new studios being created and facilities fixed with a view to generating a higher income and developing a more creative environment.
Some of this new initial income has been directed towards the maintenance of plant equipment, including the fixing of the laser cutter, along with the purchasing of required secondary machine consumables.
In the last half of the year, with the loosening of Covid restrictions and through advertising, word of mouth and classes/courses, we have managed to increase our membership base. Interestingly, it is following a similar pattern as we have seen in our previous sites. The facilities most members are signing up for, being ceramics, then followed by woodwork, with screen printing and electronics behind this. This has meant that we have had to establish more thorough maintenance schedules along with more efficient methods of booking and query response.
With this move into a more professional running of the sites, there have also been certain individuals who have historically been storing and using the space outside of this ethos. In Mill Hill, certain individuals had accrued debt through lack of payment. Actions were taken to gain this monetary amount back, along with clearing the spaces to minimise further loss. A policy of payment has now been established, informally at this point, that will prevent the accrue of debt occurring again. More specifically, individuals are invoiced at the start of each month, a warning is sent if this is not paid in the first 2 weeks, and a licence termination is given if no payment is received by the end of the third week.
In Willesden we have seen an increased number of members, but we haven’t seen the pickup we would have liked to, so more work needs to be implemented to generate an increase in our
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Create Space London
Trustees Report for the year ended 29th[th] March 2022
membership base. Through discussions between management and trustees, along with current members, a plan has been established to increase our visibility.
We also assisted in a Christmas Market, allowing the members to sell and advertise their work, along with secondary benefits, such as advertising the facilities and team building. Most of the onus was placed upon the members, who were split into teams to assist in the organisation and running. The result was semi-successful. Promotion was last minute, even though CSL paid for the printing well in advance, so attendance was not as high as hoped.
The initial phase was completed, which was to update the website, although we do believe a complete rebuild, along with a new design of the logo, is required in the future. This would mean that our digital presence is seen in a more professional light, along with the physical space. We are now in the process of designing promotion to place in a non-competitive fashion, an art studio, with creative publications and finally through direct contact at degree shows.
Along with the intention to act more professionally, we also needed to manage certain individuals on the site. Meetings and discussions were held to establish a more structured formalised approach to the running of the facilities. Along with this, multiple meetings were held and correspondence had to remove an individual utilising part of the site without an agreement with us. This situation has caused disruption and additional pressures in forming a professionally led space. Learning from this situation is important, and has meant that all future agreements will be formal and binding.
With a previous unsuccessful application to the Jubilee Fund, we still wish to continue down a similar path to refocus CSL’s charitable agenda. The Jubilee Fund is “to empower community organisations to work collaboratively with artists and cultural organisations in a way they might not have before, to produce creative events that are driven by them and highlight their ideas and creativity.” Building on the work noted above, sessions are being designed to teach practical and creative skills in a holistic fashion.
Also, working in line with our charitable benefits, some CSL members have moved on to other places due to their successful businesses, acting as a ‘springboard’. This means that we have done our job, helping creative entrepreneurs to be able to start their businesses due to our affordability, creative and supportive environment and the access to multidisciplinary workshops.
Finally we have explored new avenues with various councils, AdHoc and development agencies with a goal of securing new premises, especially long term opportunities.
1.6 FINANCIAL REVIEW
Results for the year
For the year ended 29[th] March 2022 there was a surplus of £18,455 (2021 - £52,117) and a closing general funds reserve of £23,604 (2021 - £5,149).
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Create Space London
Trustees Report for the year ended 29th[th] March 2022
Key Risks and Uncertainties
As in previous years both our current premises are still under a ‘meanwhile’ arrangement, meaning that there is prospective planning in place. We are in close contact with both the council and property managers/landlords who will keep us updated with any upcoming changes to our circumstances.
Operating personnel numbers are still currently at 2. Along with this, we pay a self-employed individual, as a Managerial Assistant.
Going Concern
The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
Plans for Future Periods
Put into effect a contingency to facilitate any change of property. This will be through the clearing of both containers and the sale of equipment within, and an established separate monetary contingency fund.
Expand on implementing new and varied classes and courses. We hope to have these exciting new courses operational and fully running within the next year.
Try new promotion and advertising platforms.
CSL would like to establish a new artist in residency program.
We would also like to host a more regular Open Studios programme and skills workshops.
Keeping up the good relationships we have already fostered with the Council, AdHoc and development agencies.
Commission artists to paint murals and hang work within the communal areas and workshops to enhance user experience. Making the charity a visually more appealing and inspiring place to work and visit.
Improve security measures across both operating sites.
Improve the community bonds between our members.
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Create Space London
Trustees Report for the year ended 29th[th] March 2022
Reserves Policy
The Trustees are aware of the need to develop a reserves policy, and will do so when the Charity has reached a suitable stage in its development.
Signed: LM Rose
Lawrence Rose
Trustee
9th December 2022
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Create Space London
Financial Statements for the year ended 29 March 2022
Registered Charity number: 1166043 Company number: 08846726
Create Space
Financial statements for the year ended 29 March 2022
CONTENTS
| Pages | |
|---|---|
| Directors/Trustees | 2 |
| Independent examiner’s report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-13 |
Directors/Trustees*
| Lawrence Rose | |
|---|---|
| Matt Dennis | Appointed 15 November 2021 |
| Resigned 29 September 2022 | |
| Paula Hodges | Appointed 8 March 2022 |
| Resigned 30 September 2022 | |
| Mark Lowman | Resigned 10 September 2021 |
| Blanca Regina Perez-Bustamente | Resigned 24 July 2021 |
| Afolabi Spence | Appointed 21 March 2022 |
| Resigned 1 October 2022 |
*Trustees of the Charity are also known as Directors of the company.
The accompanying Trustees' Report includes the information required for the Directors' Report required by company law.
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Create Space London
Independent Examiner's Report - 29 March 2022
Report to the Trustees of Create Space London on the financial statements of the Charitable Company ("the Company") for the year ended 29 March 2022 set out on pages 4 to 13.
Responsibilities and basis of report
I report to the Charity's Trustees on my examination of the accounts of the Company for the year ended 29 March 2022.
As the Trustees of the Company (and also the directors of the Company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: DA EATON 9 December 2022
David A Eaton FCA Eaton & Co Chartered Accountants and Consultants
The Cedars, School Lane, Great Barton, Bury St Edmunds, Suffolk IP31 2RQ
3
Create Space London
Statement of Financial Activities (including income and expenditure account) For the period ended 29 March 2022
| Unrestricted funds Total Funds Note £ £ Income from: Activities for generating funds 2 147,924 147,924 Total income 147,924 147,924 Expenditure on: Charitable activities 3 129,469 129,469 Total expenditure 129,469 129,469 Net income and net movement in funds for the year 18,455 18,455 Reconciliation of funds: Total funds brought forward 5,149 5,149 Total funds carried forward 23,604 23,604 Year ended 29 March 2022 |
Year ended 29 March 2021 | Year ended 29 March 2021 |
|---|---|---|
| Unrestricted funds £ 139,060 139,060 86,943 86,943 52,117 (46,968) 5,149 |
Total Funds £ 139,060 |
|
| 139,060 | ||
| 86,943 | ||
| 86,943 | ||
| 52,117 (46,968) |
||
| 5,149 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses during the year.
Page 4
Create Space London Balance Sheet For the period ended 29 March 2022
| Note Fixed assets: Tangible assets 8 Current assets: Debtors 9 Cash at bank and in hand Liabilities: Creditors: amounts falling due within one year 10 Net current liabilities Total net liabilities The funds of the charity: Unrestricted funds 11 Total charity funds |
£ £ 15,739 15,739 800 35,740 36,540 28,675 7,865 23,604 23,604 23,604 29 March 2022 |
29 March 2021 | 29 March 2021 |
|---|---|---|---|
| £ 800 35,740 36,540 28,675 |
£ 800 15,335 16,135 29,848 |
£ 18,862 |
|
| 18,862 (13,713) |
|||
| 5,149 | |||
| 5,149 | |||
| 5,149 |
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the
Board of Trustees on 13 December 2022 and authorised for issue.
Signed: LM ROSE
9 December 2022 Lawrence Rose Director
Create Space London Company Registered No: 08846726
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Create Space London Notes to the Financial Statements For the period ended 29 March 2022
1 Accounting Policies
Create Space London is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address and principal place of business is 80 Daws Lane, London, England, NW7 4SE.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.
The functional currency is the British Pound.
b) Public benefit entity
The charitable company meets the definition of a public benefit entity under FRS 102.
c) Going concern
The accounts have been prepared on a going concern basis. The Charity has benefitted from Covid grants received in the year and also in the previous period.
The trustees have drawn up forecasts which show that, at the current level of rental and membership income, they expect that the Charity will be able to meet its debts as they fall due.
These expectations are based on the assumption that the Charity will be able to continue its operations at its current two centres, both of which are subject to short-term letting arrangements.
If for any reason the current expected level of income was not available, the Charity would need to seek alternative sources of income to ensure its continuation as a going concern.
The financial statements do not include the adjustments which would result if the Charity was unable to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
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Create Space London Notes to the Financial Statements For the period ended 29 March 2022
d) Income
Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
e) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the Charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the Trustees’ annual report for more information about their contribution.
On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
f) Fund accounting
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
There are no restricted funds in the current year or the previous period.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
i) Expenditure on charitable activities:
ii) Other expenditure: this represents those items not falling under any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
h) Allocation of support costs
Resources expended are allocated to the particular activity where the cost relates directly to that activity, for example IT. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs, is apportioned on the basis of an estimate of staff time, attributable to each activity.
Governance costs, one of the support costs, are the costs associated with the governance arrangements of the Charity. These costs relate to constitutional and statutory requirements and include any costs associated with the strategic management of the Charity’s activities as well as professional fees such as independent examination fees.
i) Operating leases
Rental charges are charged on a straight line basis over
j) Realised gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
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Create Space London Notes to the Financial Statements For the period ended 29 March 2022
k) Tangible fixed assets
Assets over £250 are capitalised at cost. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Depreciation rates will be determined when the first asset purchases are made.
l) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
m) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. They are held to meet short term cash commitments as they fall due.
n) Creditors and provisions
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
o) Financial Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
p) Critical accounting estimates and judgements
In the application of the charitable company's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
No critical accounting estimates were made in the year to 29 March 2022 (2021 - None).
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Create Space London Notes to the Financial Statements For the period ended 29 March 2022
2 Activities for generating funds
| Activities for generating funds | |||
|---|---|---|---|
| Studio hires and ancilliary income Covid grants |
Year ended 29 | Total Funds £ 114,723 33,201 147,924 March 2022 |
Year ended 29 March 2021 |
| Unrestricted funds £ 114,723 33,201 147,924 |
Unrestricted funds Total Funds £ £ 104,060 104,060 35,000 35,000 139,060 139,060 |
3. Analysis of expenditure on charitable activities
| Activities undertaken directly Staffing and subcontractors Other direct costs Support costs (note 4) |
Year ended 29 | Total Funds £ 48,619 67,711 116,330 13,139 129,469 March 2022 |
Year ended 29 March 2021 |
|---|---|---|---|
| Unrestricted funds £ 48,619 67,711 116,330 13,139 129,469 |
Unrestricted funds Total Funds £ £ 26,798 26,798 42,031 42,031 68,829 68,829 18,114 18,114 86,943 86,943 |
During the year the Charity had one class of activity, the hire of artisan space.
4. Analysis of support costs
| Governance (see below for analysis) Other Total Governance costs are made up of: Accountancy and financial management Independent examination Legal and professional fees |
Unrestricted funds Total Funds Unrestricted funds Total Funds £ £ £ £ 4,500 4,500 5,342 5,342 8,639 8,639 12,772 12,772 13,139 13,139 18,114 18,114 2,500 2,500 2,392 2,392 2,000 2,000 2,000 2,000 - - 950 950 4,500 4,500 5,342 5,342 Year ended 29 March 2022 Year ended 29 March 2021 |
|---|---|
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Create Space London Notes to the Financial Statements For the period ended 29 March 2022
| 5 Net income for the period This is stated after charging: Depreciation Operating lease rentals: Property 6 Staff costs were as follows: Subcontractors Salaries & pension contributions Analysis of staff costs, trustee remuneration and expenses, and the cost of key |
Year ended 29 March 2022 Year ended 29 March 2021 £ £ 3,123 3,123 18,550 12,600 £ £ 9,313 26,798 39,306 - 48,619 26,798 |
|---|---|
The charity had two employees in the year (2021 - £ Nil).
Key Management Personnel is made up of two centre managers both of whom work on a partly voluntary basis. Salaries and related costs totalling £39,306 were paid to them during the year (2021 - £Nil).
The Charity's Trustees were not paid and did not receive any benefits from employment with the Charity in the year (2021 - £Nil). The Trustees did not have any reimbursement of expenses (2021 - Nil). No Charity Trustee received payment for professional or other services supplied to the Charity (2021 - £Nil).
7 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
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Create Space London Notes to the Financial Statements For the period ended 29 March 2022
8 Tangible Fixed Assets
| Fixtures and fittings £ Cost At the start of the period - Additions during the period - Disposals in period - At the end of the period Depreciation At the start of the period - Charge for the period - Eliminated on disposal - At the end of the period Net book value At the end of the period - At the beginning of the period - 9 Debtors Other debtors 10 Creditors: amounts falling due within one year Trade creditors Accruals Loans Loans from Directors Loans from Management Studio deposits Other creditors |
Plant and equipment Total £ £ 31,231 31,231 - - - - 31,231 31,231 12,369 12,369 3,123 3,123 - - 15,492 15,492 15,739 15,739 18,862 18,862 29 March 2022 29 March 2021 £ £ 800 800 800 800 29 March 2022 29 March 2021 £ £ - 782 10,880 3,576 1,416 6,090 1,162 3,150 - 6,280 13,423 9,020 1,794 950 28,675 29,848 |
|---|---|
Page 11
Create Space London Notes to the Financial Statements For the period ended 29 March 2022
11 Movements in funds
| Current period Total - unrestricted funds Prior Period Total - unrestricted funds |
At the start of the period £ 5,149 (46,968) |
Incoming resources £ 147,924 139,060 |
Outgoing resources At the end of the period £ £ 129,469 23,604 86,943 5,149 |
|---|---|---|---|
12 Reconciliation of net income to net cash flow from operating activities
| Net income for the reporting period Depreciation charges Loss on disposals (Increase) Decrease in debtors (Decrease) Increase in creditors Net cash provided by operating activities 13 Analysis of cash and cash equivalents Cash at bank and in hand Total cash and cash equivalents |
Year ended 29 March 2022 Year ended 29 March 2021 £ £ 18,455 52,117 3,123 3,123 - - - - (1,173) (40,649) 20,405 14,591 29 March 2022 29 March 2021 £ £ 35,740 15,335 35,740 15,335 |
|---|---|
14 Capital commitments
At the balance sheet date, there were no capital commitments (2021 - £Nil).
15 Contingent assets or liabilities
At the balance sheet date, the there were no contingent assets or liabilities (2021 - £Nil).
Page 12
Create Space London Notes to the Financial Statements For the period ended 29 March 2022
16 Legal status of the charity
The Charity is a company limited by guarantee and has no share capital. The Company is incorporated in England and Wales registration number 08846726 .The liability of each member in the event of winding up is limited to £1.
The registered office of the company is 80 Daws Lane, London, United Kingdom, NW7 4SE.
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Create Space London
Independent Examiner's Report - 29 March 2022
Report to the Trustees of Create Space London on the financial statements of the Charitable Company ("the Company") for the year ended 29 March 2022 set out on pages 4 to 13.
Responsibilities and basis of report
I report to the Charity's Trustees on my examination of the accounts of the Company for the year ended 29 March 2022.
As the Trustees of the Company (and also the directors of the Company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in, any material respect:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: DA EATON 9 December 2022
David A Eaton FCA Eaton & Co Chartered Accountants and Consultants
The Cedars, School Lane, Great Barton, Bury St Edmunds, Suffolk IP31 2RQ
1