THE LANGUAGE HUB C.I.C.

Company Registration Number:
SC398135 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

THE LANGUAGE HUB C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE LANGUAGE HUB C.I.C.

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 3,777 5,696
Total fixed assets: 3,777 5,696
Current assets
Cash at bank and in hand: 13,467 36,315
Total current assets: 13,467 36,315
Creditors: amounts falling due within one year: 4 ( 10,046 ) ( 14,299 )
Net current assets (liabilities): 3,421 22,016
Total assets less current liabilities: 7,198 27,712
Creditors: amounts falling due after more than one year: 5 ( 138,444 ) ( 144,444 )
Total net assets (liabilities): (131,246) (116,732)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (131,346 ) (116,832 )
Total Shareholders' funds: ( 131,246 ) (116,732)

The notes form part of these financial statements

THE LANGUAGE HUB C.I.C.

Balance sheet statements

For the year ending 31 March 2023 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.

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 22 December 2023
and signed on behalf of the board by:

Name: Michele Gordon
Status: Director

The notes form part of these financial statements

THE LANGUAGE HUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 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

THE LANGUAGE HUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

THE LANGUAGE HUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 9,717 3,906 13,623
Additions
Disposals
Revaluations
Transfers
At 31 March 2023 9,717 3,906 13,623
Depreciation
At 1 April 2022 5,846 2,081 7,927
Charge for year 967 952 1,919
On disposals
Other adjustments
At 31 March 2023 6,813 3,033 9,846
Net book value
At 31 March 2023 2,904 873 3,777
At 31 March 2022 3,871 1,825 5,696

THE LANGUAGE HUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 1,080 2,330
Other creditors 8,966 11,969
Total 10,046 14,299

THE LANGUAGE HUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

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

2023 2022
£ £
Other creditors 138,444 144,444
Total 138,444 144,444

THE LANGUAGE HUB C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Loans to directors

Included within creditors is a balance owed to the directors of £146,771. This amount is repayable on demand, and there is no interest charged.

COMMUNITY INTEREST ANNUAL REPORT

THE LANGUAGE HUB C.I.C.

Company Number: SC398135 (Scotland)

Year Ending: 31 March 2023

Company activities and impact

The company runs a language centre for adults and operates a cafe, an exhibition and event space and multi-lending library on site. The company started in 2011, moved into current premises in 2018 and was converted into a social enterprise in 2015. During the financial year 2022-2023, the hub’s activities have benefited the community in the following ways:- local residents have been able to use their language library conveniently- members of the local community have access to language learning and bilingual support;- the hub has provided part-time freelance employment for up to 17 local residents;- other local small businesses (children’s activities) have been able to access their customer base through using the hub’s premises by hiring space;- local children have been regularly offered free literacy events- Funded projects have made creative art sessions and employability support available for a range of different groups within the communityThe hub offers varies events and learning opportunities which are partly funded through community grants and can be attended for free by members of the community

Consultation with stakeholders

The company’s stakeholders are residents of our local community and beyond. The directors of the company have lived in Glasgow for a number of years and developed the business model for the hub based on their experience and researching policies and local language provision for residents.This has helped us to build up a profile of local consumers and their language needs and what we can do to meet them more effectively. Our regular research enables us to identify number of potential learners in Glasgow and their needs.

Directors' remuneration

Directors remuneration of £10800 was received in the year between the two directors or note contained within the accounts.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
22 December 2023

And signed on behalf of the board by:
Name: Michele Gordon
Status: Director