ASPIRE4U COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
07111700 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

ASPIRE4U COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 December 2024

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

ASPIRE4U COMMUNITY INTEREST COMPANY

Directors' report period ended 31 December 2024

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

Principal activities of the company

Aspire4u is a Community Interest Company (CIC) based in the West Midlands, UK. Our principal activities revolve around community engagement and development, primarily by using the arts and various programs to foster positive mindsets. Our key activities include: -Mindset Development, Financial Literacy, and Employability: We use arts-based approaches to help individuals and communities develop positive mindsets regarding wellbeing, financial understanding, and skills for employment. -Community Support and Development: Aspire4u works to support communities in creating better futures by sharing practical knowledge and solutions. We develop and deliver projects focused on understanding the mind, managing money, and finding purpose. -Partnerships and Consultancy: We collaborate with various organisations, including local authorities, statutory services, housing associations, and education settings, to deliver tailored programs. We also act as a "bridge organisation" to help social enterprises and community-focused initiatives with business development, bid development, project management, and consultancy. -Mental Health Services: We deliver community-based mental health services through wellbeing support, one-to-one therapy, group sessions, and psychological education, as highlighted by their work with Dudley Support Circles. -Event and Exhibition Organisation: Aspire4u is involved in organising events and exhibitions to amplify their messages and connect with communities. -Educational Support: We provide educational support services and work with science and education providers to make a difference in communities.

Additional information

Aspire4u has been working diligently across its three core pillars: mindset development, financial literacy, and employability. The organisation has expanded its reach across various regions and invested in its infrastructure and systems. Aspire4u is now focusing on identifying the necessary training to further enhance its capabilities and is also strengthening partnerships to support its objectives. Key Initiatives and Impact Breathing Space (Orbit): Aspire4u provided mental wellbeing support to Orbit Housing Group tenants through individual and group sessions. This support included tailored action and wellbeing plans, along with signposting to relevant services. The focus was on equipping individuals with skills for self-management of their mental health by teaching coping mechanisms, providing information about available support, building confidence, and offering practical assistance for direct stressors like debt, cost of living, and housing issues. This work is crucial as these tenants often face multiple disadvantages such as disability, long-term mental health challenges, weak social support, and poverty, increasing their vulnerability to poor mental health. Speak Up Support Scheme (NHS England): For the third year, Aspire4u has provided psychological support for NHS England's Speak Up Support Scheme, assisting NHS staff negatively affected by workplace whistleblowing. The organisation deploys experienced clinical psychologists with NHS backgrounds who understand the culture and challenges and are skilled in supporting individuals with work-related distress through 1:1 psychological support sessions. This equips individuals with coping mechanisms for distress, often related to PTSD symptoms, empowers their personal and professional growth, and provides NHS England with insights and recommendations for improving the internal culture that deters staff from raising concerns. Employee Assistance - FTSU Team Support (NHS England): Following the success of the Speak Up scheme, NHS England's Freedom to Speak Up team requested psychological support from Aspire4u. Aspire4u provided experienced clinical psychologists with NHS backgrounds to offer individual psychological support sessions and facilitated group reflective practice sessions to assist the team in managing their workload and delivering psychologically-informed professional support. Dudley Support Circles (Dudley Council): Aspire4u provides Dudley Council's low-level mental health support for residents, empowering individuals through one-on-one wellbeing sessions and group activities to manage their own mental health. This support is vital for those experiencing multiple disadvantages, including disability, long-term mental health issues, limited social support, and poverty. Dudley Wellbeing Garden (WMCA): With support from the West Midlands Combined Authority Environment Fund, Aspire4u established a gardening group for individuals experiencing poor mental health. The funding enabled the transformation of the office's neglected garden into a community asset, offering opportunities to acquire practical gardening techniques and sustainable methods, build self-confidence, and promote social connections. Wider Determinants of Health (Dudley and Walsall): Funded by the Black Country Healthcare NHS Foundation Trust, this project operates in Dudley and Walsall, targeting the most deprived areas and ethnic minority communities within the Black Country. Aspire4u focuses on engaging hidden communities through social media and tailored communication strategies, offering flexible support options and removing barriers to participation. Talking Therapies Plus (Black Country): This project, also funded by the Black Country Healthcare NHS Foundation Trust, addresses barriers preventing individuals in Dudley, Sandwell, and Walsall from accessing NHS mental health support. Aspire4u employs a network of diverse therapists who speak various languages, focusing on Eastern European and South Asian communities, to deliver one-to-one sessions and group workshops. Walsall Youth Outreach Team: Commissioned by Walsall Council, Aspire4u conducted youth outreach activities in crime hotspots within Walsall town centre, engaging at-risk teenagers and connecting them with opportunities. Sandwell Enterprise Programme: This program supported 120 new and early-stage businesses across the borough, offering intensive training, structured guidance, and direct support to help individuals turn their business ideas into viable ventures. Inclusive Communities Fund (WMCA): Aspire4u's wellbeing program in Dudley, funded by the West Midlands Combined Authority Inclusive Communities Fund, delivered a variety of initiatives grounded in the '5 ways to wellbeing', targeting social inclusion, physical activity, employability skills development, and community contribution. Black Country Innovation (Black Country NHS): Aspire4u is a key partner in a youth engagement innovation project addressing health inequalities, focusing on young adults from ethnic minorities in Sandwell. Future Outlook Aspire4u is positioned to deliver front-line services and support other initiatives and organisations with capacity development. The organisation aims to address potential gaps in services due to funding declines in local authorities and NHS integrated Care Boards in the West Midlands. Aspire4u is working towards achieving a 7-figure turnover and strengthening its workforce and succession plan to amplify its national presence between 2025 and 2028. K Showande Director



Directors

The directors shown below have held office during the whole of the period from
1 January 2024 to 31 December 2024

Chris SHOWANDE
Nana DUODU
Yvonne HAGAN


Secretary Yvonne HAGAN

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
4 June 2025

And signed on behalf of the board by:
Name: Chris SHOWANDE
Status: Director

ASPIRE4U COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 December 2024

2024 2023


£

£
Turnover: 750,440 657,000
Cost of sales: ( 186,302 ) ( 293,286 )
Gross profit(or loss): 564,138 363,714
Administrative expenses: ( 541,812 ) ( 352,031 )
Operating profit(or loss): 22,326 11,683
Profit(or loss) before tax: 22,326 11,683
Tax: ( 3,610 ) ( 2,225 )
Profit(or loss) for the financial year: 18,716 9,458

ASPIRE4U COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 8,492 5,033
Total fixed assets: 8,492 5,033
Current assets
Debtors: 4 112,720 46,887
Cash at bank and in hand: 3,229 42,888
Total current assets: 115,949 89,775
Creditors: amounts falling due within one year: 5 ( 30,317 ) ( 42,327 )
Net current assets (liabilities): 85,632 47,448
Total assets less current liabilities: 94,124 52,481
Total net assets (liabilities): 94,124 52,481
Members' funds
Profit and loss account: 94,124 52,481
Total members' funds: 94,124 52,481

The notes form part of these financial statements

ASPIRE4U COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 December 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 4 June 2025
and signed on behalf of the board by:

Name: Chris SHOWANDE
Status: Director

The notes form part of these financial statements

ASPIRE4U COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 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

    Tangible fixed assets depreciation policy

    Tangible Fixed Assets Depreciation Policy - Straight-Line Method Our policy is to systematically depreciate all tangible fixed assets over their estimated useful lives using the straight-line method. This ensures that the cost of an asset is spread evenly across the periods it benefits. Depreciation commences when an asset is available for use. The straight-line method calculates depreciation expense as: (Cost - Salvage Value) / Useful Life. Management determines useful lives and salvage values based on factors like expected usage, wear and tear, technical obsolescence, and legal limitations. These estimates are reviewed annually and adjusted prospectively if circumstances change significantly. Depreciation is recorded monthly, impacting profit and loss. Fully depreciated assets remain on the balance sheet at their residual value until disposal. This policy aims to accurately reflect asset consumption and ensure financial statements provide a true and fair view.

    Other accounting policies

    The directors are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare such financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), FRS 105. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: -select suitable accounting policies and then apply them consistently, -make judgements and accounting estimates that are reasonable and prudent, and -prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ASPIRE4U COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 16 16

ASPIRE4U COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 16,745 16,745
Additions 4,140 4,140
Disposals
Revaluations
Transfers
At 31 December 2024 20,885 20,885
Depreciation
At 1 January 2024 11,712 11,712
Charge for year 681 681
On disposals
Other adjustments
At 31 December 2024 12,393 12,393
Net book value
At 31 December 2024 8,492 8,492
At 31 December 2023 5,033 5,033

ASPIRE4U COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
£ £
Trade debtors 104,443 46,887
Other debtors 8,277
Total 112,720 46,887

ASPIRE4U COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 16,268
Taxation and social security 30,317 26,059
Total 30,317 42,327

COMMUNITY INTEREST ANNUAL REPORT

ASPIRE4U COMMUNITY INTEREST COMPANY

Company Number: 07111700 (England and Wales)

Year Ending: 31 December 2024

Company activities and impact

Company Activities and Impact: -Aspire4u focuses on mindset development, financial literacy, and employability. They have expanded their work across regions and invested in infrastructure and systems. -Provides mental wellbeing support to various groups, including Orbit Housing Group tenants, NHS staff, and Dudley residents. This support includes individual and group sessions, tailored action plans, and signposting to relevant services. -Aspire4u also addresses the wider determinants of health in deprived areas and ethnic minority communities, offering flexible support options and removing barriers to participation. -Runs programs like the Sandwell Enterprise Programme, which supports new and early-stage businesses, and the Inclusive Communities Fund, which delivers wellbeing initiatives focusing on social inclusion, physical activity, and employability. Community Benefits in the Financial Year: -Aspire4u's activities have a significant positive impact on the community by improving mental health, providing coping mechanisms, and empowering personal and professional growth. -Aspire4u work reduces the need for interventions from the NHS or Safeguarding and Adult Social Care teams by preventing the worsening of mental health conditions. -The Sandwell Enterprise Programme contributed substantially to the local economy by equipping residents with the tools and connections needed to launch or grow businesses. Over £150,000 in grants were distributed through the program, with 99 of those businesses being female-led. -The Inclusive Communities Fund fostered a supportive environment where individuals could connect through shared interests, facilitating access to further mental wellbeing support.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The total amount paid or receivable by directors in respect of qualifying services was £36,000. 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
4 June 2025

And signed on behalf of the board by:
Name: CHRIS SHOWANDE
Status: Director