POWERBASE COMMUNITY C.I.C.

POWERBASE COMMUNITY C.I.C.

POWERBASE COMMUNITY C.I.C. - Company Information

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POWERBASE COMMUNITY C.I.C.

Company limited by guarantee

Company Registration Number:
12534246 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2021

Period of accounts

Start date: 25 March 2020

End date: 31 March 2021

POWERBASE COMMUNITY C.I.C.

Contents of the Financial Statements

for the Period Ended 31 March 2021

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

POWERBASE COMMUNITY C.I.C.

Directors' report period ended 31 March 2021

The directors present their report with the financial statements of the company for the period ended 31 March 2021

Directors

The directors shown below have held office during the period of
25 March 2021 to 31 March 2021

Olwadamilola Balogun
 Tolulope Kukoyi

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
20 December 2021

And signed on behalf of the board by:
Name: Olwadamilola Balogun
Status: Director

POWERBASE COMMUNITY C.I.C.

Profit And Loss Account

for the Period Ended 31 March 2021

2021


£
Turnover: 68,000
Cost of sales: ( 30,658 )
Gross profit(or loss): 37,342
Administrative expenses: ( 14,400 )
Operating profit(or loss): 22,942
Profit(or loss) before tax: 22,942
Tax: ( 4,359 )
Profit(or loss) for the financial year: 18,583

POWERBASE COMMUNITY C.I.C.

Balance sheet

As at 31 March 2021

Notes 2021


£
Current assets
Debtors: 3 85
Cash at bank and in hand: 22,857
Total current assets: 22,942
Creditors: amounts falling due within one year: 4 ( 4,359 )
Net current assets (liabilities): 18,583
Total assets less current liabilities: 18,583
Total net assets (liabilities): 18,583
Members' funds
Profit and loss account: 18,583
Total members' funds: 18,583

The notes form part of these financial statements

POWERBASE COMMUNITY C.I.C.

Balance sheet statements

For the year ending 31 March 2021 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 22 December 2021
and signed on behalf of the board by:

Name: Olwadamilola Balogun
Status: Director

The notes form part of these financial statements

POWERBASE COMMUNITY C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2021

  • 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

POWERBASE COMMUNITY C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2021

  • 2. Employees

    2021
    Average number of employees during the period 0

POWERBASE COMMUNITY C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2021

3. Debtors

2021
£
Other debtors 85
Total 85

POWERBASE COMMUNITY C.I.C.

Notes to the Financial Statements

for the Period Ended 31 March 2021

4. Creditors: amounts falling due within one year note

2021
£
Taxation and social security 4,359
Total 4,359

COMMUNITY INTEREST ANNUAL REPORT

POWERBASE COMMUNITY C.I.C.

Company Number: 12534246 (England and Wales)

Year Ending: 31 March 2021

Company activities and impact

The Powerbase Community CIC runs several events and paid workshops to generate the funding for the two-core initiative (Naka Tech Academy and PowerQueens). The events and workshops ran through the course of the financial year 2020-2021 and benefited the community in the following ways:- The Naka Tech Academy Initiative provided free tech education and learning resources to over 250 young people between the ages of 16 and 24.- The PowerQueens Initiative provided pad sponsorship to 100 girls over the academic year to ensure their attendance in school.

Consultation with stakeholders

The company’s stakeholders are the beneficiaries of the initiatives, the partnership organisations and directors.Beneficiaries are asked to fill in a monthly review of the impact the programmes are having on their lives and how the team could improve the delivery of the programmes. Monthly meetings are conducted with the core team made up of volunteers to ensure all feedback is actioned appropriately and in good time. The feedback has helped the organisation to shape the teaching and curriculum under the Naka Tech Academy to be more practical and introduced a decentralised finance and NFT course.The directors have a quarterly feedback session with the CEO to ensure the smooth running of the organisation. All feedback is noted, actioned and reviewed at the next meeting.Partnership organisations are sent a monthly review form to assess the effectiveness of the partnership and joint impact.

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
20 December 2021

And signed on behalf of the board by:
Name: Oluwadamilola Balogun
Status: Director