for the Period Ended 31 December 2023
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
for the Period Ended
2023 | ||
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Cost of sales: |
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Gross profit(or loss): |
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Administrative expenses: |
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Other operating income: |
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Operating profit(or loss): |
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Profit(or loss) before tax: |
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Profit(or loss) for the financial year: |
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As at
Notes | 2023 | ||
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Cash at bank and in hand: |
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Creditors: amounts falling due within one year: | 3 |
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Members' funds | |||
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Total members' funds: |
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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 31 December 2023
Basis of measurement and preparation
for the Period Ended 31 December 2023
2023 | ||
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Average number of employees during the period |
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for the Period Ended 31 December 2023
2023 | ||
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Accruals and deferred income |
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Other creditors |
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In the space provided below, please insert a general account of the company’s activities in the financial year to which the report relates, including a description of how they have benefited the community. NOV Way CIC works to strengthen the Brent community by improving physical and emotional wellbeing and reducing social isolation. Young people have incredible talent, creativity and energy but miss out on the opportunities they need to unleash that potential due to deep structural disadvantages - including racism, sexism and financial inequality. We harness the power of our community to change this in a sustainable way. We deliver free and engaging twice weekly running clubs for young people (18+) in a community setting that provides support, accountability and mentoring, to improve their mental and physical wellbeing . Our NOV Community makes a difference by creating a representative and inclusive environment for runners irrespective of ability and backgrounds, diverse coaches and an emphasis on social running activities celebrating personal bests throughout the club. We engage with local communities through our active social media channels, an established website, running applications such as Strava, and community stakeholders such as the community engagement teams at Brent Council and community centres. We curated an annual pan-London community engagement festival for diverse and underprivileged communities (“Run the Ends”) to deepen community engagement, support and accountability for sustainable physical and emotional habits. Last year we connected over 160 diverse community members to social run networks with the support of our community collaborators Quintain Estates and London Marathon Events. NOV Way has successfully delivered free coaching and mentoring through weekly running activities for over three years (14 months as a CIC). Our membership has significantly increased from 47 in 2022 to over 350 in 2023 with an average weekly participation rate increasing from 20 to 35 during the same period. Most importantly, 99.9% of our membership is from the BAME community which is substantially higher than the national average. This growth has stretched our volunteer-based delivery model and requires support and resources to continue delivering activities. This grant will facilitate this expansion, covering the costs for qualified coaches, training needs and equipment. It will also allow us to refine our monitoring and evaluation frameworks for better impact assessment Brent is London’s 2nd most diverse borough with 65% of the population being ethnically and culturally diverse. NOV activities have significantly impacted the lives of 350 of them, especially young females who account for over 75% of our membership. 99.9% of our members are from BAME communities whom we have coached to take up running as a lifestyle to improve the quality of their lives. We are committed to continue this change, especially as the local population is set to grow by 16,500 in the next 5 years. Our NOV community provides stability and accountability and the safety within which to explore and connect with their local spaces. This has expanded their opportunities to meet like minded professionals, improve their self esteem and aspirations. The local community benefits from an engaged and active pool of mentors, role models and volunteers to invest time and resources in Brent.
Community is embedded into the design, development, delivery and management of NOV. Our inception via a WhatsApp group during COVID-19 became the launchpad for inclusivity and accessibility for underrepresented and socially isolated communities. To mitigate the social and physical exclusion post lockdown, our members orchestrated informal group runs before deciding to formalise the running group They started consulting the wider Brent community to measure interest through a weekly pop-up stand resulting in a further 50 new joiners to the weekly runs. The NOV Community has since thrived to over 350 members. Our registration includes a welcome call to better understand each member’s needs. Over 300 community members have therefore been consulted and regularly provide feedback during weekly activities (average attendance of 35 runners). Regular online polls across the NOV Community are conducted (response rate of 25%) to obtain feedback, learning and suggestions for future running activities. Additionally, we liaise with local community stakeholders including Brent’s Community Engagement team, The Yellow (community hub) and Quintain Ltd (housing management company) for corporate feedback. A dedicated team of 25 diverse community volunteers help deliver activities such as coaches, pace setters and marshals. NOV Way is managed by a representative 12-person steering committee of community members who meet monthly to decide and organise implementation and delivery of activities based on community feedback.
No remuneration was received
No transfer of assets other than for full consideration
This report was approved by the board of directors on
22 October 2024
And signed on behalf of the board by:
Name: Leon Anthony Parkes
Status: Director