OUR POWER HUB CIC

Company limited by guarantee

Company Registration Number:
12297562 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2022

Period of accounts

Start date: 1 December 2021

End date: 30 November 2022

OUR POWER HUB CIC

Contents of the Financial Statements

for the Period Ended 30 November 2022

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

OUR POWER HUB CIC

Directors' report period ended 30 November 2022

The directors present their report with the financial statements of the company for the period ended 30 November 2022

Directors

The directors shown below have held office during the whole of the period from
1 December 2021 to 30 November 2022

Miss Nadia Aasili
Bobby Ross
Rupinder Hardy
Faris Moneim


Secretary Bobby

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
28 August 2023

And signed on behalf of the board by:
Name: Miss Nadia Aasili
Status: Director

OUR POWER HUB CIC

Profit And Loss Account

for the Period Ended 30 November 2022

2022 2021


£

£
Turnover: 73,434 35,630
Gross profit(or loss): 73,434 35,630
Administrative expenses: ( 73,434 ) ( 35,630 )
Operating profit(or loss): 0 0
Profit(or loss) before tax: 0 0
Profit(or loss) for the financial year: 0 0

OUR POWER HUB CIC

Balance sheet

As at 30 November 2022

Notes 2022 2021


£

£
Fixed assets
Tangible assets: 3 3,254 3,254
Total fixed assets: 3,254 3,254
Current assets
Cash at bank and in hand: 60,811 22,423
Total current assets: 60,811 22,423
Creditors: amounts falling due within one year: 4 ( 60,811 ) ( 22,423 )
Net current assets (liabilities): 0 0
Total assets less current liabilities: 3,254 3,254
Creditors: amounts falling due after more than one year: 5 ( 3,254 ) ( 3,254 )
Total net assets (liabilities): 0 0
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

OUR POWER HUB CIC

Balance sheet statements

For the year ending 30 November 2022 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 August 2023
and signed on behalf of the board by:

Name: Miss Nadia Aasili
Status: Director

The notes form part of these financial statements

OUR POWER HUB CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services and grants. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Other accounting policies

    Rendering of servicesTurnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

OUR POWER HUB CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 2. Employees

    2022 2021
    Average number of employees during the period 3 3

OUR POWER HUB CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2021 3,254 3,254
Additions
Disposals
Revaluations
Transfers
At 30 November 2022 3,254 3,254
Depreciation
At 1 December 2021 0 0
Charge for year
On disposals
Other adjustments
At 30 November 2022 0 0
Net book value
At 30 November 2022 3,254 3,254
At 30 November 2021 3,254 3,254

OUR POWER HUB CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Creditors: amounts falling due within one year note

2022 2021
£ £
Other creditors 60,811 22,423
Total 60,811 22,423

OUR POWER HUB CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

5. Creditors: amounts falling due after more than one year note

2022 2021
£ £
Other creditors 3,254 3,254
Total 3,254 3,254

COMMUNITY INTEREST ANNUAL REPORT

OUR POWER HUB CIC

Company Number: 12297562 (England and Wales)

Year Ending: 30 November 2022

Company activities and impact

Our Power Hub CIC offers a range of support services and creative outlets for people across the Royal Borough of Kensington and Chelsea and neighbouring boroughs, helping im-prove mental and emotional wellbeing. Programs include technology-based initiatives, sports, art sessions, music programs, and STEM activities, catering to the diverse needs of the community. Partnerships with health professionals and esteemed organizations ensure a comprehensive approach to service delivery. Our mentorship programs empower youth, providing them with guidance and skill-building opportunities. Our impactful activities, including Art & Crafts workshops, Boxing Fitness Classes, adventure weekends, Music 2 Heal Workshops, and Introduction to NFT Art Workshop, have demonstrated positive benefits for the community, such as improved mental health, increased self-esteem, and strengthened resilience, contributing to the overall well-being and future success of individuals we serve.

Consultation with stakeholders

Our Power Hub CIC maintains strong relationships with various stakeholders, including the Young People’s Fund, RBKC, The Dedicated Service, The Grenfell Foundation, KCSC, and CNWL, through regular meetings, emails, and phone calls.These collaborations facilitate the delivery of a diverse range of activities and workshops, such as art and crafts, technology, and online boxing training, in response to feedback from bereaved, survivors, and residents.These efforts highlight the peer-led model adopted by Our Power Hub CIC. The impact of Covid-19 led to some activities being moved online, but in-person events resumed once restrictions eased. The support from The Grenfell Foundation has been particularly instrumental in providing resources, advice, and skills to enhance the service delivery of Our Power Hub CIC, proving the organization's agility and trustworthiness within the community.

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
21 October 2023

And signed on behalf of the board by:
Name: Miss Nadia Aasili
Status: Director