for the Period Ended 31 August 2024
| Directors report | |
| Profit and loss | |
| Balance sheet | |
| Additional notes | |
| Balance sheet notes | |
| Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 August 2024
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 September 2023
to
31 August 2024
The director shown below has held office during the period of
20 December 2023
to
31 August 2024
The director shown below has held office during the period of
20 November 2023
to
14 June 2024
Secretary
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
| 2024 | 2023 | |
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£ |
£ |
| Turnover: |
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| Cost of sales: |
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| Gross profit(or loss): |
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| Distribution costs: |
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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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| Interest receivable and similar income: |
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| Interest payable and similar charges: |
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| Profit(or loss) before tax: |
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| Tax: |
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| Profit(or loss) for the financial year: |
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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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| Creditors: amounts falling due after more than one year: | 6 |
(
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(
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| Total net assets (liabilities): |
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| Capital and reserves | |||
| Called up share capital: |
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| Profit and loss account: |
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| Total Shareholders' 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 August 2024
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Other accounting policies
for the Period Ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| Average number of employees during the period |
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for the Period Ended 31 August 2024
| Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
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| Cost | £ | £ | £ | £ | £ | £ |
| At 1 September 2023 |
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| Additions |
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| Disposals | ||||||
| Revaluations | ||||||
| Transfers | ||||||
| At 31 August 2024 |
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| Depreciation | ||||||
| At 1 September 2023 |
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| Charge for year |
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| On disposals | ||||||
| Other adjustments | ||||||
| At 31 August 2024 |
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| Net book value | ||||||
| At 31 August 2024 |
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| At 31 August 2023 |
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for the Period Ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors |
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| Other debtors |
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| Total |
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for the Period Ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts |
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| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| Total |
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for the Period Ended 31 August 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Bank loans and overdrafts |
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| Total |
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for the Period Ended 31 August 2024
ONELAB is a Department for Education registered Post-16 SPI. ONELAB offers an experiential learning journey to young people (ages 16-25) with special educational needs and disabilities (SEND) within art, design, digital media and entrepreneurship. ONELAB is partnered with the University of the Arts London to offer qualifications from Level 1 to Level 4. ONELAB is a Pearson approved work-based learning centre in the London Borough of Tower Hamlets; London’s borough identified as having the highest rate of child poverty in the U.K. ONELAB tackles the root causes of youth poverty caused by systemic inequality. Specifically, ONELAB is focused on mobilising disabled young people out of poverty by dissolving the disability employment gap. Having a learning disability is one of the strongest predictors of poverty in the U.K. Research shows that of those living in poverty in 2016, 48% are disabled or live in a household with a disabled person. Almost half of the U.K. living in poverty is thus associated with a disability. For many creatively gifted SEND learners, especially those living in deprived areas (such as Tower Hamlets), opportunities to pursue a creative career are highly restricted. In general, creative education fails to develop meaningful opportunities within the creative sector for individuals with special needs – a sector in which networks, facilities and additional expertise contribute so heavily to entry. ONELAB dissolves these barriers to entry and provides opportunities to SEND learners to develop the skills and knowledge base necessary to secure paid and sustainable employment and/or self-employment within the creative sector, post full-time education. Vision: Empowering young people with special needs to thrive in life by unlocking their hidden potentials, fostering a world where every individual, regardless of their unique abilities, is provided the opportunities, support and encouragement needed to flourish and contribute meaningfully to society. Our commitment is embodied in ONELAB, an innovative organisation offering an experiential learning journey designed to nurture and unleash the full spectrum of capabilities within SEND young people. ONELAB strives to create an inclusive and supportive environment that recognises and celebrates the diverse talents of every individual, empowering them to not only navigate life with confidence but to actively shape a brighter, more inclusive future for themselves and the communities they thrive within. Mission: ONELAB is closing the disability employment gap and offering long-term solutions to tackle poverty and unemployment amongst young people at greatest risk of becoming NEET and those furthest from the labour market through two critical steps: 1. Raising the attainment levels amongst the lowest achieving thereby increasing life chances; and 2. Offering clear and tangible pathways to employment and/or self-employment. ONELAB is forging new pathways into adulthood for young people with SEND. ONELAB offers creative industry training that is practical, preparing learners to take a piece of the “creative economy pie”. In this way, ONELAB bridges the gap between the academic study of art, design, digital media and entrepreneurship and its manifestation in the real-world.
Stakeholders of ONELAB are: 1. young people (16-25 years old) with special educational needs and disabilities (SEND) with active education, health and care plans (EHCPs) 2. parents/guardians of young people with special educational needs and disabilities 3. local authorities 4. heath care professionals, as required 5. community learning disabilities services ONELAB works closely with all stakeholders throughout the year to ensure young people with SEND receive the education and training required, as identified in their respective EHCPs, to achieve their longer-term career and personal life goals (transitions to adulthood). Annual Reviews take place with all stakeholders to review each young person’s progress and achievements and set new targets as required to ensure successful transitions to adulthood occur post full-time education. Progress and targets are closely monitored throughout the academic year and reported to stakeholders during the Annual Review process. Communication with stakeholders remain continuous throughout the year to ensure actions taken are timely and effective.
The aggregate amount of emoluments paid to the directors totalled £180,000. The compensation for the director’s loss of office totalled £624.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
18 May 2025
And signed on behalf of the board by:
Name: Elsa Ellies
Status: Director