for the Period Ended 29 April 2023
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 29 April 2023
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
27 April 2022 to 29 April 2023
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
2023 | ||
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| £ | |
Turnover: | | |
Cost of sales: | ( | |
Gross profit(or loss): | | |
Administrative expenses: | ( | |
Operating profit(or loss): | ( | |
Profit(or loss) before tax: | ( | |
Profit(or loss) for the financial year: | ( |
As at
Notes | 2023 | ||
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| £ | ||
Current assets | |||
Cash at bank and in hand: | | ||
Total current assets: | | ||
Net current assets (liabilities): | | ||
Total assets less current liabilities: | | ||
Accruals and deferred income: | ( | ||
Total net assets (liabilities): | ( | ||
Members' funds | |||
Profit and loss account: | ( | ||
Total members' funds: | ( |
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 29 April 2023
Basis of measurement and preparation
Turnover policy
for the Period Ended 29 April 2023
2023 | ||
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Average number of employees during the period | |
The company is a martial arts institute, running continuous subsidised Brazilian Jiu-Jitsu, Boxing and Fitness/HIIT classes for disadvantaged communities. The company began operating in 2022 and has benefitted the community in the following ways:- Over 140 young people under 21 have attended our classes for free.- 6 different schools (including two PRUs) and 3 different youth clubs have allowed us to teach their cohorts of under 16s on a weekly basis. We offer the cheapest rate possible while also subsiding 50 percent or 100 percent the fees for the delivery of the project, where adequate funding permits.- We have targeted, using publicly available research, the least physically active demographic in London – BAME women between 16+ years old. We have run 1 free class in Boxing/HIIT every week. We aim to expand this to 2 classes to reflect increased demand.
The company’s stakeholders are the local residents of East London, as well as local schools and gyms. The directors of the company are residents of the East London area, having lived and grew up in the Borough.We have held several consultations with different stakeholders. Our main beneficiaries are the youth. We have attended careers fairs (organised by schools/communities/charities) and facilitated workshops at Newham Sixth Form College demonstrating to young people what martial arts is and explaining the benefits of participating in it. This is all the while gathering information on their opinions, their needs and exploring the current barriers they may be facing. We conduct online surveys with our growing participants (which is a mix of males under 24 years old and females 16 to 50 years old, the majority of whom are from a BAME and/or from low-income backgrounds) to understand their needs and how they could benefit from free or subsidised martial arts and fitness activities. We have also consulted other charities and social enterprises in the Newham and Tower Hamlets areas to ascertain where our services are needed most.
As identified in the accounts, the Directors received no direct remuneration for their services however payments for services totalling £2,564 were made to a separate company, which is wholly owned by Liban Farah. 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
14 February 2024
And signed on behalf of the board by:
Name: Liban Farah
Status: Director