POWER TOWN CIC

Company limited by guarantee

Company Registration Number:
13508047 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 1 August 2023

End date: 31 July 2024

POWER TOWN CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

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

POWER TOWN CIC

Directors' report period ended 31 July 2024

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

Directors

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

O Cato
V Bell
S Patterson


The director shown below has held office during the period of
27 January 2024 to 31 July 2024

A Currie


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
3 March 2025

And signed on behalf of the board by:
Name: O Cato
Status: Director

POWER TOWN CIC

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 18,203 1,061
Cost of sales: ( 4,084 )
Gross profit(or loss): 14,119 1,061
Administrative expenses: ( 51,868 ) ( 1,385 )
Other operating income: 40,768
Operating profit(or loss): 3,019 (324)
Interest payable and similar charges: ( 2 ) ( 12 )
Profit(or loss) before tax: 3,017 (336)
Tax: ( 273 )
Profit(or loss) for the financial year: 2,744 (336)

POWER TOWN CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 377 755
Total fixed assets: 377 755
Current assets
Cash at bank and in hand: 3,342 37
Total current assets: 3,342 37
Creditors: amounts falling due within one year: 4 ( 1,495 ) ( 1,312 )
Net current assets (liabilities): 1,847 (1,275)
Total assets less current liabilities: 2,224 ( 520)
Total net assets (liabilities): 2,224 (520)
Members' funds
Profit and loss account: 2,224 ( 520)
Total members' funds: 2,224 (520)

The notes form part of these financial statements

POWER TOWN CIC

Balance sheet statements

For the year ending 31 July 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 3 March 2025
and signed on behalf of the board by:

Name: O Cato
Status: Director

The notes form part of these financial statements

POWER TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 July 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

    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.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

    Other accounting policies

    Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Current or deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

POWER TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

POWER TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2023 1,509 1,509
Additions
Disposals
Revaluations
Transfers
At 31 July 2024 1,509 1,509
Depreciation
At 1 August 2023 754 754
Charge for year 378 378
On disposals
Other adjustments
At 31 July 2024 1,132 1,132
Net book value
At 31 July 2024 377 377
At 31 July 2023 755 755

POWER TOWN CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 362 362
Other creditors 1,133 950
Total 1,495 1,312

COMMUNITY INTEREST ANNUAL REPORT

POWER TOWN CIC

Company Number: 13508047 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

Over the past year, our company has significantly enhanced its community outreach efforts with a focused approach to strengthen relationships and deepen connections. Our multifaceted strategy includes one-on-one mentoring, active engagement through social media, and offering our facilities for various creative workshops. These workshops encompass a broad spectrum of activities such as music, drama, fashion,dance, and media production, tailored to the interests and aspirations of young people. By providing these opportunities, we have empowered numerous young individuals, boosting their self-confidence and honing their skills in their chosen crafts. Our organization has created a safe and supportive environment, effectively reducing the likelihood of these young people engaging in at-risk behaviours. The professional standard of our production sets has given them invaluable hands-on experience, preparing them for future career opportunities in creative industries. Moreover, our company played a crucial role in supporting a family affected by knife crime. Through our dedicated support and counselling services, we helped them navigate a profoundly challenging period, offering both emotional support and practical assistance. In response to this tragedy, we also initiated community outreach aimed at raising awareness about knife crime and advocating for positive change. These initiatives have not only provided solace to the affected family but also fostered greater community awareness and collective action against such issues. Overall, our activities have made a tangible impact by nurturing young talents, ensuring their safety, and contributing to community well-being and resilience.

Consultation with stakeholders

The company's stakeholders are residents of and visitors to our centre and those residents in the surrounding areas. The directors of the company have lived in the community for a combined number of 143 year and developed the business model for the arts hub based on their experiences and holding listening events with other residents. All who use the centre are asked to complete a feedback questionnaire which includes a section about needs and wants. This has helped the centre ensure that it is providing a service that not only caters for the community but also provides them with something that is needed.

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
26 February 2025

And signed on behalf of the board by:
Name: O Cato
Status: Director