for the Period Ended 31 March 2024
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
As at
Notes | 2024 | 2023 | |
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£ |
£ |
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Fixed assets | |||
Tangible assets: | 3 |
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Total fixed assets: |
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Current assets | |||
Debtors: | 4 |
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Cash at bank and in hand: |
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Total current assets: |
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Creditors: amounts falling due within one year: | 5 |
(
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(
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Total net assets (liabilities): |
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Members' funds | |||
Profit and loss account: |
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Total members' funds: |
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The notes form part of these financial statements
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
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 31 March 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 March 2024
2024 | 2023 | |
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Average number of employees during the period |
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for the Period Ended 31 March 2024
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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Cost | £ | £ | £ | £ | £ | £ |
At 1 April 2023 |
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Additions | ||||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 March 2024 |
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Depreciation | ||||||
At 1 April 2023 |
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Charge for year |
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On disposals | ||||||
Other adjustments | ||||||
At 31 March 2024 |
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Net book value | ||||||
At 31 March 2024 |
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At 31 March 2023 |
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for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Other debtors |
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Total |
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for the Period Ended 31 March 2024
2024 | 2023 | |
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£ | £ | |
Taxation and social security |
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Other creditors |
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Total |
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New Challenge CIC's mission is to provide our customers with high quality, professionally delivered, information, advice & guidance (IAG) in order to support them make positive changes in their lives around employment, learning and skills. Based in London, we work with customers from very diverse backgrounds and communities, many of whom are some distance from the labour market due to social, economic and demographic factors. Our services are offered in the community and through this approach we are very much able to target our services to those who need it most. During the year 2023-24 we supported 5,348 customers with careers advice and guidance through the National Careers Service (NCS). Of these, just under 67 per cent either progressed into a positive outcome, measured as either commencing an accredited course or gaining sustained employment (4 weeks or more and a minimum of 16 hours per week). From a demographic perspective, in terms of accessing our NCS contract for careers advice and guidance support: 57% were women; 73% were from BAME groups; 44% had a declared health condition and 24% were aged 50 or above. Although the National Careers service is open to anyone over the age of 18, due to the customers we are trying to reach and the locations we deliver the service from, 93% of the customers we supported in this period were unemployed. Through our Adult Education Budget (AEB) contract managed by the Greater London Authority (GLA) we supported 80 learners to successfully complete their accredited NCFE Level 2 Certificate courses in one of: Mental Health First Aid & Mental Health Advocacy in the Workplace; Information, Advice & Guidance and Counselling Skills. We also completed the writing and development of a new Advanced Mental First Aid course, that we will roll out in 2024-25. Between October 2023 and March 2024, New Challenge was awarded a contract by the Greater London Authority to deliver a Community Outreach Project. Adult education provides an important opportunity to learn new skills, progress into new career opportunities or simply to build up social and emotional connections with the wider community. This is especially relevant in the context of the economic impacts of the current cost of living crisis. As part of the Skills Roadmap for London, the Mayor of London developed plans for making the adult education system more accessible and locally relevant. This included a commitment to delivering a long-term engagement and community outreach programme for adult education in London, to raise awareness of the capital's skills and learning offer to Londoners. New Challenge's role in this, was to engage with individuals in the London Borough of Brent community and raise awareness about the Mayor's skills offer, and provide referral routes for them to access the range of learning opportunities available. This also included a specific focus on raising awareness of the role of numeracy skills to life and work and available numeracy skills provision in London, such as the London Multiply programme. The reason for this latter focus is that London has a numeracy skills gap and there are significant negative attitudes to maths that can stop Londoners accessing numeracy skills provision. These include maths anxiety and a lack of confidence, sometimes resulting from negative experiences. As a result of this activities carried out in this programme, 120 Brent residents were supported and referred to appropriate skills provision, with partners such as Brent Start and of these, 19 were referred specially to London Multiply partners numeracy support.
New Challenge CIC has several key groups of stakeholders. The first of these are our customers who use and benefit from our career services and accredited training offer. After every National Careers Service session, those customers who wish to do so can provide feedback on their experience. In addition, for customers who have agreed to be contacted for research, they may have the opportunity to feedback on their experience in a more detailed survey conducted by Ipsos Mori. Students who complete our accredited courses all have an exit interview and which provides detailed feedback which is used to continuously improve and enhance the learning experience. The second main group of stakeholders are our funders, who include the Department for Education, Greater London Authority and our funding partners such as the JGA-Group and Paddington Development Trust. We have contributed to partner/funder surveys and evaluation reports during the period 2023-24 and helped shape the development of future programmes that we hope will benefit the communities we serve.
The company paid remuneration of £93,876.67 to the director for the period ended 31 March 2024. 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
24 September 2024
And signed on behalf of the board by:
Name: Ramesh Moher
Status: Director