COMPANY REGISTRATION NUMBER: 10407948 CHARITY REGISTRATION NUMBER: 1171742 NW7 Hub Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 LEAMAN MArrEI Chartered accountants Suite 1, First Floor 1 Duchess Street London W1W 6AN
NW7 Hub Company Llmited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expendilure account) Statement of financial position Notes to th8 financial slatements 10 The followlng pages do not form part of the flnanclal stat8ments Detailed statement of financial activities 19 Notes to the delailed statement of financial activities 20
NW7 Hub Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The Iruslees, who are also the dlreclors for the purposes of company law, present Ihelr report and the unaudited financial statements of the charity for Ihg year gndgd 31 March 2023. ChalV$ réport The financial statements have been prepared in accordance with the accounting polkies set out on pa99$ 10 10 12 and the special provisions of Part 15 of the Compani6s Act 2006 relallng lo sm811 entities. These statements also comply with current slalutory requirements, the Memorandum snd Arliclgs of Association and Accounting and Reporling by Charilios.. S18tement of Racommended Practice Icharilies SORP IFRS 10211. Reforence and admlnlstratlvo dotalls Rogl$t¢red ¢harlty name NW7 Hub Charlty r•gl#tratlon numb•r 1171742 Company rgglstratlon numb•r 10407948 Prlnclpal offlco and r•glst•rod Mlll Hlll Library offlce Hartley Avenue London NW7 2HX England The trust••J H Rouhanl A Ghaffari P Edward8 A Morley V Doig (Appolnted 7 November 20221 (Appoinled 7 Novemb&r 20221 IDled 4 October 20231 Indopondont exarnlnèr Paul Mallei Structur81 govornanco and managemont NW7 Hub Is 8 private company limS18d by guarant89, incorporalgd on 3 October 2016 and is registered charity, number 1171742. Registration was obtained on 3 October 2016, The NW7 Hub's truslegs, who are also directors for the purposes of Cornpany Law, have control ol NW7 Hub and ils property 8nd funds. The Iruslees meet al regular intervals during oach year lo glve conslderalion lo the slatU8 of NW7 Hub's funding, rgserv&s and risks. The trustees are appoinl8d by invSlatSon on lo the Board by existing trustees. On appoinlmenl, an induction is given by an existing trustee explaining the procedures as well as an overview of the administrative procedures employed by NW7 Hub. In addition all new Iruslees 8re given 8 Copy of the code of conduct for a Irust8e, explaining in detail their role and responsibilities.
NW7 Hub Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (CDnfinuedJ Year ended 31 March 2023 Objectlves and actlvitles The NW7 Hub is a charity based in Mill Hill, North London and was created by a group of ¢ommS118d Ioc81 residents with the ulkn'male vision lo build a new and vibrant comtnunity facility on tha site of the Civil Defence Building in Daws Lane, Mill Hill, NW7 which once built will provide a host of activiti8s, special gvenls and seNices for all ages. Thè chartws objects are, for the public benefit, lo provide or assist in the provision of facilities in the interests of social wemare for recreation or other leisure time occupation of individuals who have need of such facilitiès by reason of their youth, ag8, inlirmily or disability, financial h8rd8hip or soclal circumstances with th8 object of Impromng theSr condllions of Ilfe. As part of IhSs journey In 2017 w8 began operating from Mill Hill Library building, nnIng 8 10 year contract lo operate the Mill Hill Library from 1 April 2017 on behalf of Barn81 Couricil and also delivering a range of activities and $erviGo$ In the HUB lo enhance and to davtlop tha local area and sense of a community. with a team of wonderful volunteers, we have developed both the Llbrary. food and goods bank and HU8 programme, including sessions for improving health and wellbeing, social acuvilles for adults and seniors, musical and creative opportunities and baby and toddler classes. AS we continue to grow a8 a charlly we welcome support for this community focused project. The Hub has begn an incubator for over ten local predominantly female found¢d bu5in95se5 and ha5 supported over 30 jobs in the process. Following the award of thè contract lo operate Mill Hill Partnership Library, we have been establishing ours81v8s in th8 library and building firm foundations for growth and divorsily in subsequent years. 11 has Involved developlng relallonshlps whh our customèrs, building trust and support from th8 communbty, ensurlng our volunteers have the appropriate skills and rosources lo do Ihèlr job well. evolving our partn8rship with London Borough of Barnel ILB81 and Caling natworks upon which lo build. In parallel wg havg alsg been setting up Ihg HUB comrnunily aclvilies which will work closely with the library and complernenl and add lo the breadth ol programmlng activitiès and engagernonl. Publlc boneflt gtatomont We are conscious that the Charflles Act 2011 emphaslse8 the requirement that all charities of every kind musl be able lo demonstrat& that their work is of direct benefit lo the public. We believe that the activities we fund through all income streams including grants. covor a wlde range of i8sue8, whlch wa alggorlsg und9r'. Health and Wellbeing Learning and Cultural Enrichmènt Community Cohesiveness and Interaction Ngtwr)rking and Signposting Food and Goods Bank Local enterprise incubator
NW7 Hub Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Dlre¢torfs Report) (¢onllnu8dJ Year ended 31 March 2023 A¢hlovomont8 and pertomianctt As required of us in the Partnership Agreement we have reported monthly statistics lo Barnel Council Library Services team in accordanca with the Schedule. Operational reviews have been conductad by the Council and mallers discussed and aclioned as appropriate. Communlcallon with Counal r8presanlaliv8s in Library Sarvices have bgen gflicienl and effective. W8 have reported back lo th8 Barnel Food Hub and kept detailed records of demand for foodbank usè and n&8ds of th8 clients as well as signposted support for them. Pro ra mln Rhymg lime has relumed and we h8ve 8UPPOrted 8 comMunY garden program that h88 developed food growth and suslalnabilily for our food and goods bank. We have wort(ed activity with Barnot Councils Town Centr8 team and were dellghled lo d8liv8r a serles of evgnls In Mlll Hlll Broadway town square thi8 year. Most notably th& Jublleè c818bralions with over 4000 allendees In partnershlp wlth Mlll Hlll East Church, Barnel Hong Kong community and Mill Hlll Residonts Associats'on. In addition lo this, we re-introduced Mill Hill Chill in a hybrid formal in person and online every Friday evenin9. The foyer and reception area of the Library and 1Sbrary office were renovated last year as were the loodbank decking area and lollets, lo offer a warm walcornlng environment and improve the worklng space of our $18ff and volunlaers. We have run aclivi1188 for our youth board through the year including quorterfy youth markets In the Broadway which have been extremely 8ucce8sful. As we continue lo support our community through the pandemlc and the cost of living orf515 we hav8 sean a return lo in person aclivrties. Flnanclal rovlow Totsl IncornSng rgsouroes amounted to £99,001 {2022.' £122,222). Th18 income Includes raslrloled grants, reslricied 8nd unreslrlcled donations and rentsl Income. Thè lolal axpendiluro lor the year amounl&d lo £75,93912022.. £45,0861188ving a nal surplus for the year of £23,06212022'. £77,136). NW7 Hub had £3.33712022.. £3,836) of reslricled funds al 31 March 2023. Detail18 contained in thé aoUnt8 hgroln. Ro8èrv•i pollcy and goin9 concern In vlew of the natur8 of the Tru81'8 acllvllles, the Irusla&s hav8 no policy on rosarves. Rather, they 88ek to ensure that li8bili1108 can be paid as they lall due without aGcumulattng unnecessarfly high cash balances. The tru8tee8 hav8 revlewed the current and future ca8hflow requlremenls of the charfty and concluded that the charity has the ability lo meet ils debts as they fall due. On this ba51s the Iruslees conslder Ihal thg going concgrn assumption 15 an appropriate basis on whlch lo preparo the financial slalemenls.
NW7 Hub Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Iconllnued) Year ended 31 March 2023 Plèn¥ for future perlods Following the award of the contract lo operate Mill Hill Partnership Library, we have been estsblishlng ourselves in tha library and building fimi foundations for growth and diversity in subsèquent years. It has Involved developing relationships with our customèrs, building trust and support from the cornmunlly, ensuring our volunteers hav6 the appropriate skills and resources to do their job well, evolving our partnership with London Borough of Barnel ILBBI and creallng natworks upon which lo build. In parallel we have also been selling up the HUB community acts'vilies which will work closaly with the library and complement and add to the complementary HUB aclivilies. the Iruslees will locus on th8 development of the new community centre in Daws Lan8. This will involve finalising the design, wllh LBB, fundraising and additional community 8ngagemenl on the project. The Iruslee and staff wll also Gonlinue lo devglop the team of voluntèers, further Improve policles and opèr811ng procedures and ensure the financial 8Ltstsin8bilily of the charity. We continua lo work Sn partnership with Bamel Council lo build 8 nèw community centre and Ilbrary In Daws Lan8, Fundr*lJlng •tat&m•nt Sectlon 162a of the Chari1188 Act 2011 requlres charllles lo make a stslam6nl regarding lundralslng actlvlti85. Alhough we do not currently undgrtake wldespr8ad fundrdbslng from the general publlc, Ihg legislation defines fund raising as 'solicllln9 or olh8rwis8 procuring money or olh8r property lor charitable purposes., Such amounts receivable arè presented in our accounts 88 "voluntary income. and include legacies and oranls. In relallon lo the above w8 confim that all solici18llons ar8 managed Internally, wlthoul involvemanl of commerclal partlclpalor8 or professlonal fund-ralsers. or Ihlrd partle8. The board ha5 day lo day management ol all income Ugneration. The charity is not bound by any undertaking lo be bound by any regulatory schamo ond the charity do88 not con8Ider il necessary lo comply with any voluntary code of practicè. Wo have received no complaints In relation lo fundraisin9 aclivilies.
NW7 Hub Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Dire¢torf5 Report) (¢ontlnts6dJ Year ended 31 March 2023 Trustggs. rosponslbllltles The trustees are responsible for preparing the annual report and the financial statements ol NW7 Hub in accordance with the Companies Act 2006 and for being satisfied that the financial slalaments give a true and fair vI6w. The tru81ees are also responsible for preparing the financial statements in accordance wllh Unlted Kingdom Accounting Standards Iunlted Klngdom Generally Accepted Accounllng Pracllcel. Company law requires the Iruslees (who are Dlreclors of NW7 Hub) lo prepare financial slalements for each financial year that giv8 8 true and fair vièw of the sla18 of affairs of NW7 Hub and of the income and expandilure of NW7 Hub for that year. In preparing these flnanclal slalemenls, the Iruslees are requlred.. to $8l&cl suitable accounting policies and then apply thèm consistonlly., make judgements and estirnales that are reasonable and prud8nt'. lo prepare the flnanclal slat8menls on a golng concern basis, unless It Is inapproprfate lo presurne that NW7 Hub wlll conts'nuo In busln8$S. Th6 tru8loes are r88ponsibl& for k8epSng adequate accounting records that show and explain NW7 Hub's Iransactlons, dlsclo8e wllh reasonable accuracy at any lime the flnanclal posbllon of NW7 Hub and enable them to ensure that the flnanclal slalemenls comply wllh the Companl&s Act 2006. Thoy aro also r08ponsiblg for safeguarding the a88e18 of NW7 Hub and hence for taking reasonable sI8p8 for the prevenlSon and delectlon of fraud and olhar Irregularllig8. The Iru81è8s Ilsled are dlreclors of the charitable oompany. 8mall company provl8lons This report has been prepared in accordance with the provi8lons applicable lo companl8s entitled to the small compan188 exemption. The Iru51ees' annual report was approved on 22 Novembgr 2024 and 81gned on behalf of Ihg board of Iruslees by.. haffari Trustee Adam Morlgy Trustee
NW7 Hub Company Limited by Guarantee Independent Examlner's Report to the Trustees of NW7 Hub Year ended 31 March 2023 I report lo the trustees on my examinallon of tha financial stslemenls of NW7 Hub Ilhe charity,) for the year ended 31 March 2023. R8sponslbllltl88 and basls of roport A8 the trustees of the company land also kts directors for the purposes of company law) you are responsible for the preparation of the flnanclal ststements in accordance with the requirements of the Companies Act 20061'¢he 2006 Act,). Havlng salisfled myself that th8 accounts of the company 8re not r6qulred lo be audlled under Part 16 of th8 2006 Act and are 8llgible for independent examinallon, I report in respect of my exarninalion of tha charity's accounis as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I hav8 followed the Directions given by the Charlty Commission under section 14515llbl ol the 2011 Act. Ind•pond•nt oxamln•r'$ Statoment I hav8 Completed my gxamSnalion. I conflrm Ih8t no matter8 have come to my attention in connèction with th8 examSnalion givSng m& cause lo ball8ve'. accounting remrds were not kept In re8pect ol the charity as requlred by section 386 of the 2006 AGI., or the financlal statemen18 do not aecord with those records., or the financial slalernents do not comply wllh th8 accounting requlrements of Section 396 of the 2006 Act olhor than any requiremènt that the accounts gSv8 a 'lru8 and fairf vlew which 58 not o m811er con81dered as part of an Indepandgnl 8xamlnalion', or thè lin8ncial slalements have not been prepared in ac¢ordanc8 with the molhod8 and prlnciples of the Statement of Recommended Practice for accounting and reports'ng by charities applicable lo charities prepartng their accounts in accordance with tho Financi81 Roporiing Standard appllcable in the UK and Republic of lieland IFRS 1021. I have no conc8rns and havg corne across no other mallers In conneGlion with the examination lo which attention should be drawn In Ihls report In order lo enable 8 proper understanding of the accounts lo be reached. Paul Mattgi Independent Examiner Leoman Mattel Suite 1, First Floor 10uch&8s Street London W1W 6AN
NW7 Hub Company Limited by Guarantee Statement of Flnanclal Activities (including income and expendlture account) Year ended 31 March 2023 2023 Restricted lunds Total funds Total lunds 2022 Unreslricled fundg Not• Incoma and endowments Donations and18gaci8s Charbtable activlli8s 79,750 19,251 79,750 19,251 99,001 107,991 14,231 Total incom 99,001 122,222 Expendlture Expendllure on charilablo activities Totol gxp9ndlturo 75,439 75,439 499 75,939 75,939 45,088 499 45,086 N•t Incom• and not movemont In fund• 23,562 1499} 23,062 77,136 R•conclll•tlon of fund• Total funds brought forward Total fund8 carrled fopN)rd 104,019 127,581 3,836 107,855 130,918 30,719 3,337 107,85S The statement of flnanc181 actlvllles Includ68 811 galns and10s898 r8cogn18ed In the y¢ar. All income and expen(Jllure derive from conlinulng acllvllles. The notes on pages 10 to 17 form part of these flnan¢lal statemfrnts.
NW7 Hub Company Limited by Guarantea Statement of Financial Position 31 March 2023 2023 2022 Not Flx&d 0ss9ts Tangible fixed assets Investsnenls 14 15 1,263 1.683 1,264 1,684 Current a88•t$ Debtors Cash at bank and in hond 18 128,545 20,792 149,337 89,248 30,406 119,eS4 Crodltorn: amounts fallSng due wlthln ono yoar Net curront assets 17 17,083 10,482 131,654 109,172 Total assets less curr•nt Ilabllltles 132,918 110,856 Cr•dltorn: amount8 falllng du• aft•r more than one ygar 18 2,001 130,917 3,001 N•t a88•ts 107,855 Fund• of tho chjrfty Reslricled funds Unr881rfcted funds 3,337 127,581 3,836 104,019 Total charlty fund• 21 130,918 107,855 For the year ending 31 March 2023 tho charity was entlll8d to exemption from audlt undor sgclion 477 of the Companies Act 2006 relating lo small companies. Directors, re$pon8ibililie8'. The members have not requiied the company lo obtsln 8n audit of ils financial statements for the year in quesllon In 8ccordance with Section 476., The directors acknowlèdge their responsibllilies for complying with the requSremenls of the Act with respect lo accounting records and the preparation ol financial sla18menls. Thèse flnanei81 stslèmenls hav8 b88n prepared In accordanc¢ wllh Ihg prov151on8 appllcable to companies subject to the small companies, regimè. The statement of financial position continues on the following page. The not88 on page5 10 to 17 form part of these financial statements.
NW7 Hub Company Limited by Guarantee statement of Financial Position fcontlnu 31 March 2023 Th898 financial 8ts18menls wor8 approved by the board of trustees and authoris8d for issue on 22 Novemb8r 2024, and are signed on behaff of the board by- All Ghaffa Tru Adam Morley Truslge Tho notos on paggs 10 to 17 fomi part of flnan¢lal statoments.
NW7 Hub Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 Genoral Infonnatlon The charty is a publlc bènefit enlty and a prfvale company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The 8ddres8 of the registsred office is Mill Hill Library, Hartley Avenue, London, NW7 2HX, England. sthtèmtrnt of compllance These financial stalemgnts have been prepar8d in compliance th FRS 102, 'The Financial Reportlng Standard appllcablo in the UK and the Republic of Ir8land'. the Slalemenl of Racommended Practice appllcabl8 lo charilles preparlng their accounts In accordance with the Fln8ncial Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021 IChariti88 SORP IFRS 10211 and the Companies Act 2006. Accountlng pollclgs Ba818 of praparatlon The financial slalemenls have been prepared on the historical cost basis, as modified by th8 revaluation of certain financial assets and liabilities and inveslmgnl properties measured at falr v8lu8 through Incom8 or expgndiluro. The financial 8tslem8nls aro prepared In Slerllng, whlch18 the functional currency of th8 onlity. Golng ¢oncorn The Trust888 have revl8wed the current and future cashflow requlrem&nts of th8 chartly and conclud8d that the charity has th& ability lo me61 Its debts as they fall due. On thSs basls the Trustees consider that the going concern assurnplion is an appropriate basis on which lo prepare the linanclal slalements. Judg•m•nts and kay sourcal of •8tlmatlon uncortalnty The preparallon of the fin8ncl81 $181emenls require8 man8gemenl lo make judgements. oslimales and assumptions that affect the amoun18 reported. Th8s8 èslimales and judgemgnls arg conlinually reviewed and are based on experi8nce and other factors, including expectallons of future events that are believed to be r&asonabl8 under the Circumstances. Fund accountlng Unreslrlcled funds are available for use at the discretion of the Truslges lo further any of the charitys purposes. R8slricted funds are subjected lo rgstn'clions on Ihoir gxpenditurg declared by the donor or through the terms of an appeal, and fall into one of two sub-clas5es.' reslricled income funds or endowment funds. Incomlng resourcos All Income is Included in Ihg slalemenl of financial activities when enliUement has passed to the charity, il is probable that the economic benefits associated with the Iransaclion will flow lo th8 Charity and the amount can be reliably measured. The following specific policios are applied to particular categories of incomg.. 10-
NW7 Hub Company Llmlted by Guarantee Notes to the Financial Statements (¢ontlnuod) Year ended 31 March 2023 Accounting pollcle8 (contlnu In¢omlng rgsour¢oS (¢ontinued) income from donations or grants is recognised when there Ss edence of enlillemenl to the gift, receipt is probable and ils amount can be measured reliably. R•sourc•s •xp•ndod Expendilurg is r8cognisod on an accruals basls as a Ilablllly Is Incurrèd. Expendtture Include8 any VAT whlch cannot bg fully recovered. and Is classlfled under hèadlng$ of the statement of financial aclivill8s lo whlch11 relates.. expenditur8 on raising funds includes th8 costs of all fundraislng a¢livilies, events, non-oharilabl8 Ir8dlng actsvilies, and the Sale of donated good8. expenditure on charitsble aGlivities includes all costs Incurred by i charity In undertaklng aclivitl8s that furthgr its charitable aims for the benefit of ils b8n8ficiaries, including those support costs and costs relalino to the gov8rnance of th& charity apportioned to charltable actkvltl88. other expendllure Sncludes all expenditur8 that is neither relatgd to raising funds for the ch8rity rK)r part of 118 expendSlure on charftable actlvbtles. AII cost5 are allocated lo expenditure categories r811gcling the use of the resource. Direct costs allribulable lo a single activity ar8 allocated directly lo that aclivlly. Shared costs are apporlioned between the activities Ihoy contribute lo on a reasonable, jusltfi8blè and consistent basis. Tanglblè a8¥•t¥ Tanglble asse18 are SnSllally recorded 81 cost, and subsèquently stated ot cost le88 any accumulated depreciallon and Impalmienl108888. D•preclatlon Depreciab'on is calculalod so as lo write off the cost or valuallon of an asset, less its r8sidual value, over the useful economic life of that ass81 as follows: Fixtures and fitllngs Equipment 25 /0 reducing balanGg 25% roducing balancg Investments Fixed asset investments are inilally recorded at cost, and subsequently slated at cost less any accumulated impairment losses. Govornmgnt grants Government grants are recognised al the falr value of the asset re1Ve4 or receivable. Grants are not recognised unlll there is reasonable a5suranco that th8 charity will comply wth the conditions attaching lo them and thè grants will be received. 11
NW7 Hub Company Limited by Guarantee Notes to the Flnanclal Statements (¢ondfnuadJ Year ended 31 March 2023 Accounting policios (Cunllnuod) Govornmont grants (eontlnuBdJ Wherè the grant does not impose specified fulure performanctr-fftlaled conditions on the recipient, (( is recognised In income when the grant proceeds are r&ceived or receivable. Where the grant does impose specified future performance-r8lal8d condillons on the recipient. It Is recognised in income only whon the performance-relaled conditions have been mel. Where grants received 8re prior to s81isfwng the revenue recognition criteria, they are recoonised as a liabllhy. Fln*n¢lal In?trument• A flnanclal asset or a flnanclal Ilablllly Is recognls8d only when the entlly becomes 8 party lo the contractU81 provlslons of the Instrumènt. Basic financial instruments are initially recognis6d 81 the amount rècelvable or payable includlng any relalgd transaction costs, unless the arrangement constitutes a financing transacuon, whera il is rocognisgd al the presonl valu& of the future paymanls discounted at a markal rate of intere81 for a 8imllar debt inslrumenl. D8bl instruments are sub$gqugntly moasured al amortlsed c081. Flnanclal assets that are measured al c081 or amortised cost &r8 reviewgd for oblecuve evidenca of impaimenl at the end of each reporting dale. If there is gbj9Ctlve gvldence of impairmanl, an impairment 108s is recognised under the approprialo heading in the slalemenl of financlal aclvltles In whlch the inlllal galn w8s re¢ognSsed. Any reversals of impairment are r8cognised immediately, lo Ihg extent that the reversal does not result in a carrying amount ol thè financial assgt that 9xceeds what the carrying amount would have begn had the impairmgnl not previously begn recognised. Doflngd contrlbutlon plan4 Contributions lo defined contribution plans ar9 rocognisgd as an expense In thè period In whlch Ihg relalgd service is providgd. Prepaid contributions are recognisad as an asset lo the extent that the prepayment will léad lo a reduction in future paymgiils or a cash refund. Llmlt&d by guarantee The liability of Ihg Charity members is limilgd. Every Charity member promises. If the Charfty 18 wound up whllst he is 8 Charity member or Ihln one year after ceasing lo b8 a Charity m8mb8r, to contribute SUGh arnount as Is requlrad up to a maximum of £1 towards.. wlnding up the Charlty the payment of the debts and the payment of the costs, charges and expenses of Ilabilili88 incurred whilst the contributor was a Charity Member, 8nd thè adjustment of the rights of the conlributories among Ihemselves 12.
NW7 Hub Company Limited by Guarantee Note5 to the Financial Statements (witlnuodj Year ended 31 March 2023 Donatlons and16gacl•$ Unreslrfcled Total Funds UnTeslricled Total Funds Funds 2023 Funds 2022 Grants Llbrary Furtough income (Govgrnmgnl grant income) 79.750 79,750 106,224 106,224 1,767 1.767 79.750 79,750 107,991 107,991 CharltabS• actlvltles Unrestricted Total Fund$ Uni8slricled Total Fund8 Funds 2023 Funds 2022 Llbrary 19.251 19,251 14,231 14,231 Exp•ndltur• on ¢h•rlt8bl• actlvltl•8 by fund typ• Unrestricted Funds ReslrScl8d Total Fund8 Funds 2023 Library Support costs 225 75,214 499 724 75,215 75,439 499 75,939 Unrestrlcted Fund$ Re$lriGlgd Total Funds Funds 2022 Llbrary Support CO818 4,654 4,654 40,432 40,432 40,432 4,654 45,086 Expendlturt on charltable actlvltles by actlvlty type Activilias undertaken directly Support costs Total funds 2023 Total fund 2022 Library Hub Govemance costs 724 70,023 421 4,771 70,747 421 4.771 41,233 603 3,250 724 75,215 75,939 45,086 13-
NW7 Hub Company Limited by Guarantee Notes to the Financial Statements (conllnuod) Year ended 31 March 2023 Analysls ofsupport costs Llbrary Total 2023 Total 2022 Staff costs Premises G8neral 36,923 21,993 16,299 36,923 21,993 16,299 32,918 1,520 2,141 36,579 75,215 75,215 10. N&t Incom• Net income is stsled after chargingl{cr8dillngl'. 2023 2022 Deprooialion of tangible fixed assets 420 560 11. Indepondgnt oxamlnatlon f••• 2023 2022 Fees payable to the independent examingr for.. Independent examination of the financial Statements 3,500 3,250 12. Stsff co#t• The total stsff costs and employee ben8f118 for th8 reportlng perfod are analysed as follows.. 2023 2022 Wages and salaiies Employer conlributSons to pension pl8n8 36.116 807 32.573 345 36,923 32.918 The 8ver8ge hèad count of employees durlng the year was 312022.. 31- The average number of full-lime 8quiva19nt employees durtng the year18 analysed as follows.. 2023 N¢. 2022 No. Libr8ry No employee recelved employee bènefts of more than £60.0¢)O during the y68r12022.' Nill. 13. Trustefr rnmungratlon and expenses The Trustees received no remuneration or benefits from NW7 Hub In the year. -14-
NW7 Hub Company Limited by Guarantee Notes lo the Financial Statements (continved) Year ended 31 March 2023 14. Tanglble flxed assets Fixtures and rittings Equipment Total Cost At 1 AprS12022 and 31 March 2023 Dopreclatlon Al 1 April 2022 Charge for the year At 31 March 2023 4.091 1,728 5,819 2.874 304 1,262 116 4,138 420 3,178 1,378 4,558 Carrylng amount At 31 March 2023 913 350 1,263 At 31 March 2022 1,217 466 1,683 15. Investment• 3h•ro8 In group undertaklng• Cost At 1 Aprll 2022 and 31 March 2023 Impalrm•nt At 1 Aprll 2022 and 31 March 2023 Carrying amount Al 31 March 2023 Al 31 March 2022 I Inve8tmen18 Shown above are held at valuallon. NW7 Hub Trading Ltd is a wholly owned subsidiary of the cornpany. 16. Oobto 2023 2022 Other debtors 128,545 89,248 15-
NW7 Hub Company Limited by Guarantee Notes to the Financial Statements (Mntlnuedj Year ended 31 March 2023 17. Crèdltors: amounts falllng due wlthln ¢n• year 2023 2022 Trade creditors Accruals and delèrrad Incom8 Other creditors 3,830 5,652 1.000 16,683 1,000 17,683 10,482 18. Creditor•'. amounts falllng du• aft•r mor• than on• y•ar 2023 2022 Other credllor8 2,001 3,001 19. P•nslon8 and other po¥t rntlrom•nt bèn•flt8 D&flnod contrfbutlon plan¥ The amount recognised in incorne or expenditurg as an 8xp8nse Sn relallon lo definèd contribution pl8ns wos £80712022.. £3451. 20. Gov•rnm•nt grants Tho arnounls rocognised in Ihg financial slalements for governmgnl gran18 are 88 follow8: 2023 2022 R8cogn18ed In Income from donallons and legacle8'. Govornmenl grants In¢ome 1,767 21. Analysls of charltablo funds Unrestrlcted fund• At 31 March 202 Al 1 Aprll 2022 Income Expenditure General fund8 104,019 99,001 175,4391 127.581 Al 31 March 202 At 1 AprS12021 Income Expenditure General funds 22,229 122,222 140,432} 104,019 16-
NW7 Hub Company Limited by Guarantee Notes to the Financial Statements iltInued) Year ended 31 March 2023 21. Analy$l$ of eharitable funds (contlnuod) R•strl¢tsd funds At 31 M•r¢h 202 Al 1 Aprll 2022 Incom& Exndblure Groundwork Grant Donation for benefit of childrgn 14991 14991 3,636 3,836 3,836 14991 3,337 Al 31 March 202 At 1 Aprll 2021 Income Expenditure Groundwork Grant Donallon lor benefit of children 14,654) {4,6541 8,490 8,490 8,490 14,6541 3,836 22. Analy818 of net as8Ot$ botwo•n funds Unrestricted Funds ReslrScled Total Fund8 Funds 2023 TangSble flxed assets Inveglmènts Current assets Credllors less than 1 ygor Cr6dllor8 greater than 1 year Net assets 1,263 1.263 146.000 117,6831 12,0011 127,580 3,337 149.337 {17,6831 {2,0011 130,917 3,337 Unreslricled Funds Reslricled Total Funds Funds 2022 Tangible fixad a88818 Investments Curr8nl assets Credllors less than 1 y8ar Creditors greater than 1 year Ngt assgts 1,683 1,683 115,818 110,4821 13,0011 104,019 3.836 119,654 110,4821 13,0011 107.855 3,836 23. Related partles Included in Other Debtors are amounts owng frow NW7 Hub Trading Ltd al the year end of £128,545 12022.. £89,248). The loan Is unsecured,on Interest free terms and is repayable on demand. 17-