WOKE FINANCE CIC

Company limited by guarantee

Company Registration Number:
12328662 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2023

Period of accounts

Start date: 1 December 2022

End date: 30 November 2023

WOKE FINANCE CIC

Contents of the Financial Statements

for the Period Ended 30 November 2023

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

WOKE FINANCE CIC

Directors' report period ended 30 November 2023

The directors present their report with the financial statements of the company for the period ended 30 November 2023

Directors

The directors shown below have held office during the whole of the period from
1 December 2022 to 30 November 2023

OLAWAYE, Peter
OPOKU, Jacques


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
22 August 2024

And signed on behalf of the board by:
Name: OLAWAYE, Peter
Status: Director

WOKE FINANCE CIC

Profit And Loss Account

for the Period Ended 30 November 2023

2023 2022


£

£
Administrative expenses: ( 2,692 ) ( 4,259 )
Other operating income: 1,526 630
Operating profit(or loss): (1,310) (3,629)
Profit(or loss) before tax: (1,310) (3,629)
Profit(or loss) for the financial year: (1,310) (3,629)

WOKE FINANCE CIC

Balance sheet

As at 30 November 2023

Notes 2023 2022


£

£
Current assets
Cash at bank and in hand: 535 1,354
Total current assets: 535 1,354
Creditors: amounts falling due within one year: 3 ( 1,316 ) ( 825 )
Net current assets (liabilities): (781) 529
Total assets less current liabilities: (781) 529
Total net assets (liabilities): (781) 529
Members' funds
Profit and loss account: (781) 529
Total members' funds: ( 781) 529

The notes form part of these financial statements

WOKE FINANCE CIC

Balance sheet statements

For the year ending 30 November 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.

This report was approved by the board of directors on 22 August 2024
and signed on behalf of the board by:

Name: OLAWAYE, Peter
Status: Director

The notes form part of these financial statements

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 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

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover 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.

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Creditors: amounts falling due within one year note

2023 2022
£ £
Accruals and deferred income 373 194
Other creditors 943 631
Total 1,316 825

COMMUNITY INTEREST ANNUAL REPORT

WOKE FINANCE CIC

Company Number: 12328662 (England and Wales)

Year Ending: 30 November 2023

Company activities and impact

Woke Finance C1C exists to provide personal finance education for young people aged 11-21 from underserved backgrounds. During the year Woke Finance delivered workshops and programmes to more young people (than previous year) and more stakeholders than. Over 98% of participants saying they would recommend our workshops/programmes to others and over 90% report an improvement in their knowledge and application of money management.

Consultation with stakeholders

Woke Finance CIC's stakeholders are young people and organisations which work with young people (e.g. schools, charities, youth groups etc.). During the year we regularly speak to our users to find out how we can improve the company. In one of these sessions we received feedback on how young people can input into the organisation more formally. We have now agreed to recruit for young volunteers and ambassadors for the organisation within the next 12 months.

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
22 August 2024

And signed on behalf of the board by:
Name: Peter Olawaye
Status: Director