TOWER HILL COMMUNITY HUB CIC

Company limited by guarantee

Company Registration Number:
12768095 (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

TOWER HILL COMMUNITY HUB CIC

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

TOWER HILL COMMUNITY HUB 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

Principal activities of the company

Community physical exercise facility.



Directors

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

Carl Melia
Joseph Flynn
Colin Ganon


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
24 April 2025

And signed on behalf of the board by:
Name: Carl Melia
Status: Director

TOWER HILL COMMUNITY HUB CIC

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 51,578 38,329
Total fixed assets: 51,578 38,329
Current assets
Debtors: 4 3,700 3,700
Cash at bank and in hand: 55,147 20,628
Total current assets: 58,847 24,328
Creditors: amounts falling due within one year: 5 ( 10,107 ) ( 2,562 )
Net current assets (liabilities): 48,740 21,766
Total assets less current liabilities: 100,318 60,095
Creditors: amounts falling due after more than one year: 6 ( 54,406 ) ( 31,215 )
Provision for liabilities: ( 5,083 ) ( 4,796 )
Total net assets (liabilities): 40,829 24,084
Members' funds
Profit and loss account: 40,829 24,084
Total members' funds: 40,829 24,084

The notes form part of these financial statements

TOWER HILL COMMUNITY HUB 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.

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 24 April 2025
and signed on behalf of the board by:

Name: Carl Melia
Status: Director

The notes form part of these financial statements

TOWER HILL COMMUNITY HUB 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 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 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.

TOWER HILL COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 0

TOWER HILL COMMUNITY HUB 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 19,117 15,304 12,058 2,864 49,343
Additions 6,645 7,791 9,480 964 24,880
Disposals ( 5,195 ) ( 5,195 )
Revaluations
Transfers
At 31 July 2024 20,567 23,095 21,538 3,828 69,028
Depreciation
At 1 August 2023 835 3,874 5,292 1,013 11,014
Charge for year 412 2,883 2,437 704 6,436
On disposals
Other adjustments
At 31 July 2024 1,247 6,757 7,729 1,717 17,450
Net book value
At 31 July 2024 19,320 16,338 13,809 2,111 51,578
At 31 July 2023 18,282 11,430 6,766 1,851 38,329

TOWER HILL COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Debtors

2024 2023
£ £
Other debtors 3,700 3,700
Total 3,700 3,700

TOWER HILL COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 3,382 362
Accruals and deferred income 2,903 607
Other creditors 3,822 1,593
Total 10,107 2,562

TOWER HILL COMMUNITY HUB CIC

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 54,406 31,215
Total 54,406 31,215

COMMUNITY INTEREST ANNUAL REPORT

TOWER HILL COMMUNITY HUB CIC

Company Number: 12768095 (England and Wales)

Year Ending: 31 July 2024

Company activities and impact

We have continued to provide the people in our community the opportunity to take part in boxing and physical exercise. We have also continued with the upgrading of our facility, which we have now extended and received a Community Asset Transfer from Knowsley council. Although we will always be a boxing facility, we have also provided local people with workshops and interventions that challenge the issues that are prevalent within the borough. We have just completed our new facility through the Youth Investment Fund from the government, which will allow us to reach more people in the community and run more classes.

Consultation with stakeholders

Our stakeholders are our members and our community. We are completely user led and all of our activities are guided by the people we support.

Directors' remuneration

As part of our government funded Youth Investment Fund, we also received revenue for 12 months, which allowed us to pay staff to work as part of our programme. The Total amount paid to directors in respect of qualifying services was £26,667. 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.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
24 April 2025

And signed on behalf of the board by:
Name: Carl Melia
Status: Director