POWERJAM COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
13863109 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2024

Period of accounts

Start date: 1 February 2023

End date: 31 January 2024

POWERJAM COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 January 2024

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

POWERJAM COMMUNITY INTEREST COMPANY

Directors' report period ended 31 January 2024

The directors present their report with the financial statements of the company for the period ended 31 January 2024

Principal activities of the company

Powerjam is a unique not-for-profit rock school based in Richmond, for both budding and serious young musicians ages 9-18. Music industry pros channel their experience recording, gigging, and working with domestic and international artists into helping musical young people to form or join bands, and providing the infrastructure to rehearse and gig regularly, songwrite, and professionally record, market, and release music, thereby gaining confidence both on and off stage.



Directors

The directors shown below have held office during the whole of the period from
1 February 2023 to 31 January 2024

Andrei Sora
Anna Texier


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
12 October 2024

And signed on behalf of the board by:
Name: Andrei Sora
Status: Director

POWERJAM COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 January 2024

2024 2023


£

£
Turnover: 33,798 43,097
Cost of sales: ( 36,213 ) ( 39,057 )
Gross profit(or loss): (2,415) 4,040
Operating profit(or loss): (2,415) 4,040
Profit(or loss) before tax: (2,415) 4,040
Profit(or loss) for the financial year: (2,415) 4,040

POWERJAM COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 January 2024

Notes 2024 2023


£

£
Members' funds
Profit and loss account: 0 0
Total members' funds: 0 0

The notes form part of these financial statements

POWERJAM COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 January 2024 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 12 October 2024
and signed on behalf of the board by:

Name: Andrei Sora
Status: Director

The notes form part of these financial statements

POWERJAM COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 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

POWERJAM COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 January 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

    Our tutors work as independent contractors.

COMMUNITY INTEREST ANNUAL REPORT

POWERJAM COMMUNITY INTEREST COMPANY

Company Number: 13863109 (England and Wales)

Year Ending: 31 January 2024

Company activities and impact

While Powerjam’s vehicle is music education, Powerjam is much more than a music project, with broader and more imperative aims for this age group. As a non-selective project and charitable initiative, the young people who attend Powerjam include disadvantaged (40% of our current members and 1-3 per band), many with mental health issues and/or special education needs, low self-esteem, and some whose parents/carers lack involvement. Most members, regardless of background, are creative, sensitive young people who lack creative outlets, have buried their emotions, fear public ridicule, and are not natural performers - but they all love music and want to play it with others and for others. (Most, if not all, of our members once joining Powerjam, remain in the project until they graduate upper years.) This age group has moved on from kids clubs and struggles to find engaging activities that also have that ‘cool enough for teens’ factor. As they begin focusing on school-exam preparation, many are left without engaging, afterschool structured activities that help them to express themselves, connect with like-minded others, create something they’re proud of, alleviate anxiety, and feel good about themselves. As the main aim is to give our young musicians a sense of pride, we go to great lengths to ensure our members are proud of their bands and performances.

Consultation with stakeholders

No consultation with stakeholders

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
12 October 2024

And signed on behalf of the board by:
Name: Andrei Sora
Status: Director