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← Nw7 Hub

2024-03-31-accounts

Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

COMPANY REGISTRATION NUMBER: 10407948

CHARITY REGISTRATION NUMBER: 1171742

NW7 Hub

Company Limited by Guarantee Unaudited Financial Statements

31 March 2024

LEAMAN MATTEI

Chartered accountants Suite 1, First Floor 1 Duchess Street London W1W 6AN

Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2024

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 7
Statement of financial activities (including income and
expenditure account) 8
Statement of financial position 9
Notes to the financial statements 11
The following pages do not form part of the financial statements
Detailed statement of financial activities 20
Notes to the detailed statement of financial activities 21

Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

Chair's report

The financial statements have been prepared in accordance with the accounting policies set out on pages 10 to 12 and the special provisions of Part 15 of the Companies Act 2006 relating to small entities. These statements also comply with current statutory requirements, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice (Charities SORP (FRS 102)).

Reference and administrative details

Registered charity name NW7 Hub Charity registration number 1171742 Company registration number 10407948 Principal office and registered Mill Hill Library office Hartley Avenue London NW7 2HX England

The trustees

H Rouhani A Ghaffari P Edwards (Died 4 October 2023) A Morley V Doig Independent examiner Paul Mattei

Structure, governance and management

NW7 Hub is a private company limited by guarantee, incorporated on 3 October 2016 and is a registered charity (number 1171742). Registration was obtained on 3 October 2016. The NW7 Hub's trustees, who are also directors for the purposes of Company Law, have control of NW7 Hub and its property and funds.

The trustees meet at regular intervals throughout the year to review funding, risk, compliance, and operational strategy.

Trustees are appointed by invitation and following approval by the Board. Each new trustee receives an induction that includes an introduction to the charity's activities, policies, and governance procedures. Trustees are also provided with a copy of the charity's code of conduct, which outlines their roles and responsibilities in line with best practice and statutory requirements.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

Objectives and activities

NW7 Hub was founded by local residents with a vision to create a vibrant, inclusive community facility on the site of the former Civil Defence Building in Daws Lane, Mill Hill. The charity's purpose is to improve quality of life through community engagement, cultural enrichment, access to services, and social inclusion.

Our charitable objects are to provide or assist in the provision of facilities for recreation or other leisure-time occupation in the interests of social welfare, for individuals in need by reason of youth, age, infirmity, disability, financial hardship or social circumstances.

Since 2017, NW7 Hub has operated Mill Hill Partnership Library under contract with Barnet Council. In parallel, we have delivered a growing programme of cultural, educational, and wellbeing activities that meet the diverse needs of our local community.

With the support of staff and volunteers, NW7 Hub continues to be a trusted, accessible space for people of all ages and backgrounds.

Public benefit statement

In line with the Charities Act 2011, the trustees confirm they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission. All our activities are focused on delivering outcomes in the following key areas:

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

Achievements and performance

During the year, NW7 Hub has built on its strong foundations, responding effectively to change while broadening its reach and deepening community impact.

Key achievements include:

Operational oversight:

NW7 Hub continues to report monthly statistics to Barnet Council as part of our Partnership Agreement. We participate in regular operational reviews with the Council's Library Services team to ensure quality and compliance across all areas.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

Financial review

Total incoming resources amounted to £78,575 (2023: £99,001). This income includes restricted grants, restricted and unrestricted donations and rental income. The total expenditure for the year amounted to £54,534 (2023: £75,939) leaving a net surplus for the year of £24,041 (2023: £23,062). NW7 Hub had £3,837 (2023: £3,337) of restricted funds at 31 March 2024. Detail is contained in the accounts herein.

The charity's finances remain stable and carefully managed. Core operating costs are covered by fixed rental income from three long-term clients and supplemented by an annual grant of £25,000 from the London Borough of Barnet, with an inflationary uplift typically in the region of £3,000.

This year, we invested in new leadership capacity with the appointment of a Managing Director, whose role includes developing a co-designed fundraising strategy and increasing income diversification. Looking forward, we are entering into a lease renegotiation process with Barnet Council in Q1 2025. As part of this, NW7 Hub will be assessed under the Council's Community Benefit Matrix, and we expect to receive:

These changes will significantly enhance our long-term sustainability and ability to reinvest in community delivery.

Reserves policy and going concern

NW7 Hub does not operate a fixed reserves policy but ensures that liabilities can be met as they fall due. The trustees regularly review cash flow and operating costs to ensure continued solvency. Based on current projections and secured income streams, the trustees are confident that NW7 Hub remains a going concern.

Plans for future periods

The trustees remain ambitious for the charity's growth and impact. Priorities for 2024-25 include:

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

Fundraising statement

In accordance with Section 162a of the Charities Act 2011, we confirm that NW7 Hub does not currently work with professional fundraisers or commercial participators. All income generation is managed internally by the board and senior staff.

There were no complaints received in relation to fundraising activity during the reporting period.

In Memoriam

This year, we were deeply saddened by the passing of Paul Edwards, a founding trustee and lifelong supporter of NW7 Hub. Paul was a legacy trustee and tireless community champion who served the charity with unwavering dedication, compassion, and vision from its very inception.

His contributions to the development of NW7 Hub and the wider Mill Hill community cannot be overstated. Paul's leadership, wisdom, and commitment to public service helped shape the values and direction of the charity, and his influence will be felt for many years to come.

We honour his memory and are committed to continuing the work he helped start, driven by the same spirit of service, inclusivity, and community empowerment that he so passionately embodied.

Trustees' responsibilities

The trustees (who are also the directors of NW7 Hub for the purposes of company law) are responsible for preparing the trustees' report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements that give a true and fair view of the state of affairs of the charitable company and of its income and expenditure. In preparing these statements, the trustees are required to:

The trustees are responsible for maintaining proper accounting records and safeguarding the assets of the charity, and for taking reasonable steps to prevent and detect fraud or other irregularities.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

The trustees' annual report was approved on 28 March 2025 and signed on behalf of the board of trustees by:

Ali Ghaffari Trustee

Adam Morley Trustee

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of NW7 Hub

Year ended 31 March 2024

I report to the trustees on my examination of the financial statements of NW7 Hub ('the charity') for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Paul Mattei Independent Examiner

Leaman Mattei Suite 1, First Floor 1 Duchess Street London W1W 6AN

28 March 2025

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 63,455 500 63,955 79,750
Charitable activities 6 14,620 – 14,620 19,251
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total income 78,075 500 78,575 99,001
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities 7,8 54,534 – 54,534 75,939
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total expenditure 54,534 – 54,534 75,939
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net income and net movement in funds 23,541 500 24,041 23,062
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Reconciliation of funds
Total funds brought forward 127,581 3,337 130,918 107,855
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total funds carried forward 151,122
৶৶৶৶৶৶৶৶৶		 3,837
৶৶৶৶৶৶৶		 154,959
৶৶৶৶৶৶৶৶৶		 130,918
৶৶৶৶৶৶৶৶৶

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 11 to 18 form part of these financial statements.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Statement of Financial Position

31 March 2024

2024 2023
Note £ £ £
Fixed assets
Tangible fixed assets 14 946 1,263
Investments 15 1 1
ৄৄৄৄ ৄৄৄৄৄৄৄ
947 1,264
Current assets
Debtors 16 144,377 128,545
Cash at bank and in hand 43,204 20,792
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
187,581 149,337
Creditors: amounts falling due within one year 17 10,479 17,683
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net current assets 177,102 131,654
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total assets less current liabilities 178,049 132,918
Creditors: amounts falling due after more than
one year 18 23,090 2,001
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net assets 154,959 130,917
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Funds of the charity
Restricted funds 3,837 3,337
Unrestricted funds 151,122 127,581
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Total charity funds 20 154,959 130,918
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The statement of financial position continues on the following page.

The notes on pages 11 to 18 form part of these financial statements.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2024

These financial statements were approved by the board of trustees and authorised for issue on 28 March 2025, and are signed on behalf of the board by:

Ali Ghaffari Trustee

Adam Morley Trustee

The notes on pages 11 to 18 form part of these financial statements.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Mill Hill Library, Hartley Avenue, London, NW7 2HX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The Trustees have reviewed the current and future cashflow requirements of the charity and concluded that the charity has the ability to meet its debts as they fall due. On this basis the Trustees consider that the going concern assumption is an appropriate basis on which to prepare the financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees to further any of the charity's purposes.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Incoming resources (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings - 25% reducing balance Equipment - 25% reducing balance Investments

Fixed asset investments are initally recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Limited by guarantee

The liability of the Charity members is limited.

Every Charity member promises, if the Charity is wound up whilst he is a Charity member or within one year after ceasing to be a Charity member, to contribute such amount as is required up to a maximum of £1 towards:

5. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Grants
Library 63,455 500 63,955
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

5. Donations and legacies (continued)

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Grants
Library 79,750 – 79,750
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶
6. Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Library 14,620 14,620 19,251 19,251
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
7. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Library – – –
Support costs 54,534 – 54,534
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ
54,534 – 54,534
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Library 225 499 724
Support costs 75,214 – 75,215
ৄৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄৄ
75,439 499 75,939
৶৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶৶
8. Expenditure on charitable activities by activity type
Total funds Total fund
Support costs 2024 2023
£ £ £
Library 50,917 50,917 70,747
Hub 317 317 421
Governance costs 3,300 3,300 4,771
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
54,534 54,534 75,939
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

9. Analysis of support costs

Library Total 2024 Total 2023
£ £ £
Staff costs 43,296 43,296 36,923
Premises 6,021 6,021 21,993
General 7,229 7,229 16,299
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
56,546 56,546 75,215
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
10. Net income
Net income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 317 420
৶৶৶৶ ৶৶৶৶
11. Independent examination fees
2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 6,500
৶৶৶৶৶৶৶		 3,500
৶৶৶৶৶৶৶

12. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2024 2023
£ £
Wages and salaries 42,499 36,116
Employer contributions to pension plans 797 807
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
43,296
৶৶৶৶৶৶৶৶		 36,923
৶৶৶৶৶৶৶৶

The average head count of employees during the year was 3 (2023: 3). The average number of full-time equivalent employees during the year is analysed as follows:

full-time equivalent employees during the year is analysed as follows:
2024 2023
No. No.
Library 3
৶৶৶৶		 3
৶৶৶৶

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

13. Trustee remuneration and expenses

The Trustees received no remuneration or benefits from NW7 Hub in the year.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

14. Tangible fixed assets
Fixtures and
fittings Equipment Total
£ £ £
Cost
At 1 April 2023 and 31 March 2024 4,091 1,728 5,819
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Depreciation
At 1 April 2023 3,178 1,378 4,556
Charge for the year 229 88 317
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
At 31 March 2024 3,407 1,466 4,873
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
Carrying amount
At 31 March 2024 684 262 946
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
At 31 March 2023 913 350 1,263
৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶
15. Investments
Shares in
group
undertakings
£
Cost
At 1 April 2023 and 31 March 2024 1
৶৶৶৶
Impairment
At 1 April 2023 and 31 March 2024 –
৶৶৶৶
Carrying amount
At 31 March 2024 1
৶৶৶৶
At 31 March 2023 1
৶৶৶৶
All investments shown above are held at valuation.
NW7 Hub Trading Ltd is a wholly owned subsidiary of the company.
16. Debtors
2024 2023
£ £
Other debtors 144,377
৶৶৶৶৶৶৶৶৶		 128,545
৶৶৶৶৶৶৶৶৶

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

17. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 9,479 16,683
Other creditors 1,000 1,000
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
10,479 17,683
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
18. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 23,090
৶৶৶৶৶৶৶৶		 2,001
৶৶৶৶৶৶৶

19. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £797 (2023: £807).

20. Analysis of charitable funds

Unrestricted funds

At
At 31 March 202
1 April 2023 Income Expenditure 4
£ £ £ £
General funds 127,581 78,075 (54,534) 151,122
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
At
At 31 March 202
1 April 2022 Income Expenditure 3
£ £ £ £
General funds 104,019 99,001 (75,439) 127,581
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

20. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At
At 31 March 202
1 April 2023 Income Expenditure 4
£ £ £ £
Groundwork Grant – 500 – 500
Donation for benefit of children 3,337 – – 3,337
ৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄ
3,337 500 – 3,837
৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶
At
At 31 March 202
1 April 2022 Income Expenditure 3
£ £ £ £
Groundwork Grant – – (499) (499)
Donation for benefit of children 3,836 – – 3,836
ৄৄৄৄৄৄৄ ৄৄৄৄ ৄৄৄৄ ৄৄৄৄৄৄৄ
3,836 – (499) 3,337
৶৶৶৶৶৶৶ ৶৶৶৶ ৶৶৶৶ ৶৶৶৶৶৶৶
Analysis of net assets between funds
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 946 – 946
Investments 1 – 1
Current assets 183,744 3,837 187,581
Creditors less than 1 year (10,479) – (10,479)
Creditors greater than 1 year (23,090) – (23,090)
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net assets 151,122 3,837 154,959
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 1,263 – 1,263
Investments 1 – 1
Current assets 146,000 3,337 149,337
Creditors less than 1 year (17,683) – (17,683)
Creditors greater than 1 year (2,001) – (2,001)
ৄৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄৄ
Net assets 127,580 3,337 130,917
৶৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶৶

21. Analysis of net assets between funds

22. Related parties

Included in Other Debtors are amounts owing from NW7 Hub Trading Ltd at the year end of £144,376 (2023: £128,545). The loan is unsecured,on interest free terms and is repayable on demand.

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Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Management Information Year ended 31 March 2024

The following pages do not form part of the financial statements.

- 19 -

Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 March 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Library 63,955 79,750
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Charitable activities
Library 14,620 19,251
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total income 78,575 99,001
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
Expenditure
Expenditure on charitable activities
Wages and salaries 42,499 36,116
Pension costs 797 807
Rent 1,188 13,242
Repairs and maintenance – 11,139
Other establishment 3,518 1,997
Legal and professional fees 3,335 4,932
Telephone 322 452
Depreciation 317 420
Other staff costs 79 614
Other office costs 1,871 2,028
Sundry 608 4,192
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
54,534 75,939
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Total expenditure 54,534 75,939
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Net income 24,041 23,062
৶৶৶৶৶৶৶৶ ৶৶৶৶৶৶৶৶

- 20 -

Docusign Envelope ID: 66630628-08CA-43A9-8CDB-13703FD410F5

NW7 Hub

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 31 March 2024

2024 2023
£ £
Expenditure on charitable activities
Library
Activities undertaken directly
Foodbank costs – 499
Baby Rhyme Time – 225
ৄৄৄৄ ৄৄৄৄ
– 724
ৄৄৄৄ ৄৄৄৄ
Support costs
Wages & salaries 42,499 36,116
Staff pension costs 797 807
Rent 1,188 13,242
Repairs & maintenance – 11,139
Other establishment 3,518 1,996
Legal and professional fees 35 161
Telephone 322 452
Other staff costs 79 614
Other office costs 1,871 1,529
Sundry expenses 608 3,967
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
50,917 70,023
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Hub
Support costs
Other establishment – 1
Depreciation 317 420
ৄৄৄৄ ৄৄৄৄ
317 421
ৄৄৄৄ ৄৄৄৄ
Governance costs
Governance costs - accountancy fees 3,300 4,771
ৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄ
ৄৄৄৄৄৄৄৄ ৄৄৄৄৄৄৄৄ
Expenditure on charitable activities 54,534
৶৶৶৶৶৶৶৶		 75,939
৶৶৶৶৶৶৶৶

- 21 -