| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 DECEMBER 2025 |
| FOR |
| WE HUB BUILDING |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 DECEMBER 2025 |
| FOR |
| WE HUB BUILDING |
| WE HUB BUILDING |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| Page |
| Report of the Trustees | 1 | to | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 | to | 8 |
| WE HUB BUILDING (REGISTERED NUMBER: 05793761) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| We Hub Building is a charity assisting people to become financially independent either through supporting them in business or securing employment. We Hub Building assists in creating opportunities for everyone at any stage and in any situation. The main way We Hub Building achieves this objective is by supporting and providing the building and other facilities to The Work Avenue Foundation, a charity registered the UK which carries out the operational activity of assisting people into employment. |
| Significant activities |
| We Hub Building currently has 99.9% membership interest in Redbourne Avenue LLP. Based on the net assets of Redbourne on the date that the deed of transfer of membership interests was signed, the value of the donation to We Hub was calculated to be £258,486. |
| In addition, Redbourne Avenue LLP had existing loan agreements in place with the existing members for a total of £2 million. No donations were included in We Hub Building's accounts during the current and prior year. |
| Redbourne Avenue LLP had an existing loan relationship with We Hub Building which on the date that the deed of transfer of membership interests was signed stood at £1,971,260. With the gifting of the loan agreements of £2 million from the existing members of Redbourne in 2023, the total loan owed by Redbourne Avenue LLP to We Hub Building at 2023's balance sheet date was £3,971,260. The total loan owed by Redbourne Avenue LLP as of 31st December 2025 was calculated to be £4,039,200 (2024: £4,030,760) due to further payments made to Redbourne Avenue LLP during the years. |
| FINANCIAL REVIEW |
| Reserves policy |
| As at 31 December 2025 the charity's unrestricted funds were £4,008,058 (2024: £3,925,164). |
| Amounts are set aside to meet financial risks associated with potential contingencies and uncertainties relating to the charity's operating activities. These include: |
| - The provision for an orderly winding-down of operations in the event of a significant adverse event that is outside the control of the charity. |
| - The funding of unforeseen major projects that have not been provided for in the normal financial planning process. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is governed by its Memorandum and Articles of Association and is a company limited by guarantee. |
| Recruitment and appointment of new trustees |
| Trustees are appointed according to the Articles of Association. |
| Organisational structure |
| The board of trustees administers the charity. They have appointed a managing director that oversees the day to day affairs. |
| Induction and training of new trustees |
| New trustees undergo a briefing on their legal obligations under company and charity law. |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| Registered Company number |
| Registered Charity number |
| WE HUB BUILDING (REGISTERED NUMBER: 05793761) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| Registered office |
| Trustees |
| COMMENCEMENT OF ACTIVITIES |
| The charity was incorporated in 25 April 2006 and commenced operating on 1 November 2006. |
| Charitable status was granted on 4 April 2007. |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Approved by order of the board of trustees on |
| WE HUB BUILDING |
| STATEMENT OF FINANCIAL ACTIVITIES |
| (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 2025 | 2024 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| EXPENDITURE ON |
| Charitable activities | 2 |
| Other |
| Total |
| Net gains on investments |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 3,925,164 |
| WE HUB BUILDING (REGISTERED NUMBER: 05793761) |
| BALANCE SHEET |
| 31 DECEMBER 2025 |
| 2025 | 2024 |
| Unrestricted | Restricted | Total | Total |
| fund | fund | funds | funds |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS/(LIABILITIES) |
| FUNDS | 9 |
| Unrestricted funds | 3,925,164 |
| TOTAL FUNDS | 3,925,164 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006. |
| The trustees acknowledge their responsibilities for |
| (a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
| These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
| The financial statements were approved by the Board of Trustees and authorised for issue on |
| WE HUB BUILDING |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
| Financial Reporting Standard 102 - reduced disclosure exemptions |
| The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
| • | the requirements of Section 7 Statement of Cash Flows. |
| Preparation of consolidated financial statements |
| The financial statements contain information about We Hub Building as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Expenditure |
| Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
| Taxation |
| The charity is exempt from corporation tax on its charitable activities. |
| Fund accounting |
| Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
| Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
| 2. | CHARITABLE ACTIVITIES COSTS |
| Support |
| costs (see |
| note 3) |
| £ |
| WE HUB BUILDING |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 3. | SUPPORT COSTS |
| Governance |
| costs |
| £ |
| Other resources expended | 3,052 |
| 4. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024. |
| 5. | PRIOR YEAR ADJUSTMENT |
| Previous year's accounts were restated to reflect the correct position as at the year-end date. |
| 6. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| MARKET VALUE |
| At 1 January 2025 |
| Revaluations |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 | 540,451 |
| At 31 December 2024 | 454,505 |
| There were no investment assets outside the UK. |
| Cost or valuation at 31 December 2025 is represented by: |
| Unlisted |
| investments |
| £ |
| Valuation in 2022 | 26,363 |
| Valuation in 2023 | 26,002 |
| Valuation in 2024 | 79,829 |
| Valuation in 2025 | 85,946 |
| Cost | 322,311 |
| 540,451 |
| The company's investments at the balance sheet date in the share capital of companies include the following: |
| Redbourne Avenue LLP |
| Registered office: Devonshire House, 1 Devonshire Street, London, W1W 5DR |
| Nature of business: Property investment |
| Interest in partnership: 99.9% |
| WE HUB BUILDING |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 6. | FIXED ASSET INVESTMENTS - continued |
| 31.05.24 | 31.05.23 |
| £ | £ |
| Members' other interests | 456,078 | 374,805 |
| Profit for the year | 81,273 | 83,867 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| Accruals and deferred income |
| 9. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.1.25 | in funds | 31.12.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 3,925,164 | 82,894 | 4,008,058 |
| TOTAL FUNDS | 82,894 | 4,008,058 |
| Net movement in funds, included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted funds |
| General fund | - | (3,052 | ) | 85,946 | 82,894 |
| TOTAL FUNDS | ( |
) | 82,894 |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.1.24 | in funds | 31.12.24 |
| £ | £ | £ |
| Unrestricted fund | 3,847,330 | 77,834 | 3,925,164 |
| TOTAL FUNDS | 3,847,330 | 77,834 | 3,925,164 |
| WE HUB BUILDING |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 9. | MOVEMENT IN FUNDS - continued |
| Comparative net movement in funds included in the above are as follows: |
| Incoming | Resources | Gains and | Movement |
| resources | expended | losses | in funds |
| £ | £ | £ | £ |
| Unrestricted fund | - | (1,995 | ) | 79,829 | 77,834 |
| TOTAL FUNDS | - | (1,995 | ) | 79,829 | 77,834 |
| 10. | RELATED PARTY DISCLOSURES |
| Included in other debtors is an amount of £4,039,200 (2024: £4,030,760) owed from Redbourne Avenue LLP, a limited liability partnership of which We Hub Building is a designated member. |
| Included in other creditors is an amount of £787,404 (2024: £800,852) owed to The Work Avenue Foundation, a charity which has common trustees. |