WOKE FINANCE CIC

Company limited by guarantee

Company Registration Number:
12328662 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2024

Period of accounts

Start date: 1 December 2023

End date: 30 November 2024

WOKE FINANCE CIC

Contents of the Financial Statements

for the Period Ended 30 November 2024

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

WOKE FINANCE CIC

Directors' report period ended 30 November 2024

The directors present their report with the financial statements of the company for the period ended 30 November 2024

Directors

The directors shown below have held office during the whole of the period from
1 December 2023 to 30 November 2024

OLAWAYE, Peter
OPOKU, Jacques


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
16 April 2025

And signed on behalf of the board by:
Name: OLAWAYE, Peter
Status: Director

WOKE FINANCE CIC

Profit And Loss Account

for the Period Ended 30 November 2024

2024 2023


£

£
Turnover: 235
Cost of sales: ( 924 ) ( 144 )
Gross profit(or loss): (689) (144)
Administrative expenses: ( 12,767 ) ( 2,692 )
Other operating income: 14,950 1,526
Operating profit(or loss): 1,494 (1,310)
Profit(or loss) before tax: 1,494 (1,310)
Profit(or loss) for the financial year: 1,494 (1,310)

WOKE FINANCE CIC

Balance sheet

As at 30 November 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 1,239 0
Total fixed assets: 1,239 0
Current assets
Cash at bank and in hand: 986 535
Total current assets: 986 535
Creditors: amounts falling due within one year: 4 ( 1,512 ) ( 1,316 )
Net current assets (liabilities): (526) (781)
Total assets less current liabilities: 713 ( 781)
Total net assets (liabilities): 713 (781)
Members' funds
Profit and loss account: 713 ( 781)
Total members' funds: 713 (781)

The notes form part of these financial statements

WOKE FINANCE CIC

Balance sheet statements

For the year ending 30 November 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 16 April 2025
and signed on behalf of the board by:

Name: OLAWAYE, Peter
Status: Director

The notes form part of these financial statements

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Computer equipment 33% Straight Line Method

    Other accounting policies

    Basis of preparation The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. Presentation currency The accounts are presented in £ sterling.

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 2 2

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2023 0 0
Additions 1,850 1,850
Disposals
Revaluations
Transfers
At 30 November 2024 1,850 1,850
Depreciation
At 1 December 2023 0 0
Charge for year 611 611
On disposals
Other adjustments
At 30 November 2024 611 611
Net book value
At 30 November 2024 1,239 1,239
At 30 November 2023 0 0

WOKE FINANCE CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Accruals and deferred income 374 373
Other creditors 1,138 943
Total 1,512 1,316

COMMUNITY INTEREST ANNUAL REPORT

WOKE FINANCE CIC

Company Number: 12328662 (England and Wales)

Year Ending: 30 November 2024

Company activities and impact

Woke Finance CIC exists to provide personal finance education for young people aged 11-21 from underserved backgrounds. During the year Woke Finance delivered workshops and programmes to young people across London and Leicester, involving a range of stakeholders (e.g. Premier League football foundations). 100% of participants said they would recommend our workshops/programmes to others and over 95% reported feeling more confident about managing their finances after attending our workshop/programme s compared to before.

Consultation with stakeholders

Woke Finance CIC's stakeholders are young people and organisations which work with young people (e.g. schools, charities, youth groups etc.). During the year we regularly speak to our stakeholders to find out how we can improve our work. As a result of these review sessions, we have now recruited a young person to provide support to Woke Finance CIC on a freelance basis e.g. social media content support, programme delivery and improving our programme resources.

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
16 April 2025

And signed on behalf of the board by:
Name: OLAWAYE, Peter
Status: Director