``` REGISTERED COMPANY NUMBER: 05793761 (England and Wales) REGISTERED CHARITY NUMBER: 1118690 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ``` ``` FOR ``` ## **`WE HUB BUILDING`** ``` Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH ``` ``` WE HUB BUILDING ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 ``` |||**`Page`**|| |---|---|---|---| |**`Report of the Trustees`**|`1`|`to`|`2`| |**`Independent Examiner's Report`**||`3`|| |**`Statement of Financial Activities`**||`4`|| |**`Balance Sheet`**||`5`|| |**`Notes to the Financial Statements`**|`6`|`to`|`8`| ``` WE HUB BUILDING (REGISTERED NUMBER: 05793761) ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with thefinancialstatementsofthecharityfortheyearended31December2020.Thetrusteeshaveadoptedthe provisions ofAccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` WeHubBuildingisacharityassistingpeopletobecomefinanciallyindependenteitherthroughsupportingthem in businessorsecuringemployment.WeHubBuildingassistsincreatingopportunitiesforeveryoneatanystageandin any situation.ThemainwayWeHubBuildingachievesthisobjectiveisbysupportingandprovidingthebuildingand other facilitiestoTheWorkAvenueFoundation,acharityregisteredtheUKwhichcarriesouttheoperationalactivity of assisting people into employment. ``` ## **`FINANCIAL REVIEW`** ## **`Reserves policy`** ``` As at December 2020 the charity's unrestricted funds were £1,482,701 (2019: £1,092,992). ``` ``` Amountsaresetasidetomeetfinancialrisksassociatedwithpotentialcontingenciesanduncertaintiesrelatingto the charity's operating activities. These include: ``` ``` -Theprovisionforanorderlywinding-downofoperationsintheeventofasignificantadverseeventthatisoutside 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`** ``` Theboardoftrusteesadministersthecharity.Theyhaveappointedamanagingdirectorthatoverseesthedayto 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`** ``` 05793761 (England and Wales) ``` ## **`Registered Charity number`** ``` 1118690 ``` ## **`Registered office`** ``` First Floor, Winston House 349 Regents Park Road ``` ``` London N3 1DH ``` ## **`Trustees`** ``` Paul Julian Mann Mark Morris ``` ``` Page 1 ``` ``` WE HUB BUILDING (REGISTERED NUMBER: 05793761) ``` ## **`REPORT OF THE TRUSTEES`** ## **`FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Independent Examiner`** ``` Mr Daniel Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH ``` ## **`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. ``` ## **`CESSATION OF TRADING`** ``` The charitable company ceased activities on 30 August 2017. ``` ``` ThisreporthasbeenpreparedinaccordancewiththespecialprovisionsofPart15oftheCompaniesAct2006relating to small companies. ``` ``` Approved by order of the board of trustees on 20 September 2021 and signed on its behalf by: ``` ``` Mark Morris - Trustee ``` ``` Page 2 ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ``` ``` WE HUB BUILDING ``` ## **`Independent examiner's report to the trustees of We Hub Building ('the Company')`** ``` IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended 31 December 2020. ``` ## **`Responsibilities and basis of report`** ``` Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)youareresponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). ``` ``` HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16ofthe2006 Act andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccountsas carried outundersection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationIhavefollowed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalistedbody.Ican confirm thatIamqualifiedtoundertaketheexaminationbecauseIamaregisteredmemberof_whichisoneofthe listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the examination giving me cause to believe: ``` `1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or` `2. the accounts do not accord with those records; or` `3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or` `4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` Mr Daniel Fine, FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH ``` ``` 20 September 2021 ``` ``` Page 3 ``` ``` WE HUB BUILDING ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2020`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Charitable activity`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`fund`
`£`
**`392,000`**
**`2,291`**
**`389,709`**
**`1,092,992`**
**`1,482,701`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`392,000`**
**`2,291`**
**`389,709`**
**`1,092,992`**
**`1,482,701`**|`2019`
`Total`
`funds`
`£`
`87,022`
`9,831`| |---|---|---|---|---| |||||`77,191`
`1,015,801`| |||||`1,092,992`| ``` The notes form part of these financial statements ``` ``` Page 4 ``` ``` WE HUB BUILDING (REGISTERED NUMBER: 05793761) ``` ## **`BALANCE SHEET 31 DECEMBER 2020`** |`Notes`
**`CURRENT ASSETS`**
`Debtors`
`3`
`Cash at bank`
**`CREDITORS`**
`Amounts falling due within one year`
`4`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`5`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Unrestricted`
`fund`
`£`
**`1,484,858`**
**`967`**
**`1,485,825`**
**`(3,124)`**
**`1,482,701`**
**`1,482,701`**
**`1,482,701`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2020`**
**`Total`**
**`funds`**
**`£`**
**`1,484,858`**
**`967`**
**`1,485,825`**
**`(3,124)`**
**`1,482,701`**
**`1,482,701`**
**`1,482,701`**
**`1,482,701`**
**`1,482,701`**|`2019`
`Total`
`funds`
`£`
`1,059,665`
`38,551`
`1,098,216`
`(5,224)`
`1,092,992`
`1,092,992`
`1,092,992`
`1,092,992`
`1,092,992`| |---|---|---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year ended 31 December 2020. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 31 December 2020 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.` ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon20September2021 and were signed on its behalf by: ``` ``` Mark Morris - Trustee ``` ``` The notes form part of these financial statements ``` ``` Page 5 ``` ``` WE HUB BUILDING ``` ## **`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies Act 2006. The financial statements have been prepared under the historical cost convention. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse 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. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ``` ## **`2. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2020norforthe year ended 31 December 2019. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31December2020norfortheyear ended 31 December 2019. ``` ## **`3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** ||**`2020`**|`2019`| |---|---|---| ||**`£`**|`£`| |`Other debtors`|**`1,484,858`**|`1,059,665`| ``` continued... ``` ``` Page 6 ``` ``` WE HUB BUILDING ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Accruals and deferred income`
**`MOVEMENT IN FUNDS`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are as follows:`
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**||`At 1.1.20`
`£`
**`1,092,992`**
**`1,092,992`**
`Incoming`
`resources`
`£`
**`392,000`**
**`392,000`**
`At 1.1.19`
`£`
`1,015,801`
`1,015,801`|||**`2020`**
**`£`**
**`3,124`**
`Net`
`movement`
`in funds`
`£`
**`389,709`**
**`389,709`**
`Resources`
`expended`
`£`
**`(2,291)`**
**`(2,291)`**
`Net`
`movement`
`in funds`
`£`
`77,191`
`77,191`||`2019`
`£`
`5,224`
`At`
`31.12.20`
`£`
**`1,482,701`**|`2019`
`£`
`5,224`
`At`
`31.12.20`
`£`
**`1,482,701`**|`2019`
`£`
`5,224`| |---|---|---|---|---|---|---|---|---|---| ||||||||**`1,482,701`**||| |||||||||`Movement`
`in funds`
`£`
**`389,709`**|| |||||||||**`389,709`**|| |||||||||`At`
`31.12.19`
`£`
`1,092,992`|| |||||||||`1,092,992`|| ## **`5. MOVEMENT IN FUNDS`** ``` Comparative net movement in funds, included in the above are as follows: ``` ||`Incoming`|`Resources`|`Movement`| |---|---|---|---| ||`resources`|`expended`|`in funds`| ||`£`|`£`|`£`| |**`Unrestricted funds`**|||| |`General fund`|`87,022`|`(9,831)`|`77,191`| |**`TOTAL FUNDS`**|`87,022`|`(9,831)`|`77,191`| ``` continued... ``` ``` Page 7 ``` ``` WE HUB BUILDING ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`** ## **`6. RELATED PARTY DISCLOSURES`** ``` Includedinotherdebtorsisanamountof£11,775(2019:£11,775)owedtoTheWorkAvenueFoundation, a charity which has common trustees. ``` ``` Page 8 ```