## **Ignite Hubs** (Registered charity, number 1186658) **Financial statements for the year ended 31 December 2024**
|**Page**|**Contents**|
|---|---|
|2 - 5|Trustees’ annual report|
|6|Independent examiner’s report|
|7|Receipts & payments account|
|8|Statement of assets & liabilities|
|9-10|Notes to the accounts|
# **Ignite Hubs Trustees’ annual report for the year ended 31 December 2024**
**Full name** Ignite Hubs
**Organisation type** Charitable incorporated organisation
**Registered charity number** 1186658
## **Principal address**
30 Lynbrook Grove, Peckham, London, SE15 6HS
## **Trustees**
Duncan Forbes, from 20/01/2024 Garry Taylor, from 14/04/2025 Manoj Gopinath, until 02/01/2025 Graham Bowles, from 15/02/2025 Sean Murray, until 02/01/2025 Zachary Boulden, from 21/01/2025 Themba Sweet, from 15/04/2024 Christopher Fung, from 21/01/2025
## **Independent examiner**
Eva Stevens, employee of Community Accounting Plus, Units 1 & 2 North West, 41 Talbot Street, Nottingham, NG1 5GL
## **Governance and management**
Roles are advertised on Reach, volunteering platform, and other appropriate channels. Applicants are interviewed by trustees and CEO. After which, the applicant is put forward for approval by the Board.
## **Objectives and activities**
To advance the education of the public in particular, but not exclusively, in the subject of coding and science, technology, engineering and mathematics (STEM).
## **Summary of the main activities undertaken for the public benefit**
We deliver remote and in-person classes in coding and STEM for children and young people who learn digital skills and access career-related learning opportunities to prepare for future employment.
## **Public benefit statement**
The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit'.
2
## **Ignite Hubs**
## **Summary of the main achievements during the period**
Ignite Hubs achieved significant milestones in 2024 that further advanced our mission of widening access to education in coding, STEM and creative learning. We relocated from Peckham Library to Una Marson Library, which offers a much larger classroom and expanded storage facilities for our hardware, equipment and materials. This move strengthens our presence across Southwark, where we now deliver classes in Camberwell, Walworth, Canada Water and Una Marson libraries. Notably, Walworth, Canada Water and Una Marson are located in areas of regeneration, ensuring that our provision reaches communities undergoing rapid change and in need of accessible learning opportunities.
At Una Marson Library, we introduced a new 3D Design & Technology course, which became very popular with students, inspiring them to explore and develop their creativity through hands-on design and problem-solving. To broaden our educational offer, we also launched our first remote Creative Writing course, enabling young people to build their literacy, storytelling and creative skills in an engaging and accessible way. This led to the launch of our inaugural Creative Writing Competition, which attracted 135 entries. The top 25 entries, including the winning and the two runner-up stories, will be published as a book in 2025, giving young writers a great opportunity to showcase their talent.
Our commitment to education and community impact was recognised with a nomination from Southwark Council and parents for the King’s Award for Voluntary Service, the highest national honour in the UK. We also began the exciting development of our bespoke Online Learning Platform, designed to enhance learning, improve accessibility and provide greater flexibility. The platform will enable students to reinforce knowledge from our live classes, catch up on missed sessions, and study at a time and place that suits them.
We are proud of the progress made in 2024, both in diversifying our course offerings and in laying the foundations for future growth through the development of our Online Learning Platform. These innovations will underpin our ambition to reach and inspire even more children and young people in the years ahead.
3
## **Ignite Hubs**
## **The charity’s policy on reserves**
Our reserves policy is designed to safeguard the charity’s financial stability and sustainability, ensuring that Ignite Hubs can continue operations and manage risks in the event of unexpected changes to income. The target level of reserves is set at 4 to 6 months of operational costs; a target we have successfully achieved with reserves currently totalling £100,000.
Looking ahead, while we have established a solid reserve base, we plan to invest a portion of these funds in the coming year to support strategic priorities. In particular, reserves will be used to enhance our IT infrastructure and develop our Online Learning Platform, which is crucial for expanding our educational offerings and improving service delivery platforms. This investment is expected to further our mission, improve service delivery and increase student numbers.
Our reserves policy is reviewed annually to ensure it remains aligned with our financial goals and the needs of the charity. This regular assessment allows us to make informed decisions about reserve levels and usage, ensuring alignment with our strategic objectives and operational needs.
## **Financial review**
Ignite Hubs is pleased to report a strong financial position in 2024, with income increasing from £189,200 in the previous year to £235,132. This growth was driven primarily by securing our first corporate partnership with Colt, who generously donated £52,185. As part of this partnership, 175 Colt cyclists undertook the remarkable challenge of riding 450km from Brussels to Düsseldorf to raise funds for Ignite Hubs.
We have continued to invest these resources directly into our mission. During the year, we expanded the number of classes offered and enhanced the quality of learning by investing in the development of course content and curriculum across all our programmes. These investments strengthen our provision and ensure that children and young people benefit from engaging, high-quality education that prepares them for the future.
4
## **Ignite Hubs**
## **Financial risk**
This financial progress not only reinforces our immediate position but also provides vital resources to build the infrastructure needed to support long-term growth and sustainability. It places us in a strong position to reach more children and young people in the years ahead and deliver an even greater impact.
Ignite Hubs is primarily supported through grant funding and a small number of key donors, including a corporate partner providing unrestricted funds. This support has been vital to our growth; however, reliance on external funding carries inherent risks, particularly during times of economic uncertainty when funding levels may fluctuate.
Alongside this, rising operational costs and planned investments in our infrastructure and organisational development present potential pressures, with the risk of increased expenditure. We recognise the importance of reducing dependency on external funding and are actively working to diversify our income streams.
To address these challenges, we are committed to careful cost management, prudent investment, and the development of revenue-generating activities. These steps will help strengthen our long-term financial resilience and sustainability.
## Signed on behalf of the charity’s trustees:
Signed _____________________________________________ Date __________ 2025-10-13 Graham Bowles, Trustee
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## **Independent examiner’s report to the trustees of Ignite Hubs for the year ended 31 December 2024**
I report to the trustees on my examination of the accounts of Ignite Hubs (the charity) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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 that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts do not accord with those records.
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.
Signed _________________________ Date ______________________ 14/10/2025 Eva Stevens BSc, CPFA Employee of Community Accounting Plus
6
## **Ignite Hubs Receipts & payments account for the year ended 31 December 2024**
|_2023_
Total
Funds
£
**Note**
**Receipts**
179344
Grants & donations
**2**
1589
Classes
3568
DofE Delivery
4150
Corporate delivery
334
Bank interest
244
Book sales
189229
**Total receipts**
**Payments**
854
Admin Expenses
404
Annual Licence
12405
HMRC
268
Insurances
2285
IT & Software
486
Mobile Expenses
-
Legal & professional fees
4973
Pension
1350
Programme Equipment & Hardware
3440
Programme Expenditure
592
Raising funds
1636
Recruitment
79121
Salaries
173
Training
262
Transaction Charges
1300
Travel & Entertainment
88
Travel and Accommodation
109637
**Total payments**
79592
**Net receipts/(payments)**
64586
Cash funds at start of this period
144178
**Cash funds at end of this period**|**Unrestricted**
**Funds**
**£**
133469
-
-
856
741
-
**135066**
1945
-
31597
286
1641
125
1872
6596
-
17
-
-
55977
489
-
803
-
**101348**
33718
134396
**168114**|**Restricted**
**Funds**
**£**
91613
980
2633
4800
-
20
**100046**
1494
-
-
-
2543
-
29240
-
11765
135
-
3817
25986
2365
36
333
-
**77714**
22332
9782
**32114**|**_2024_**
**Total**
**Funds**
**£**
225082
980
2633
5656
741
20|
|---|---|---|---|
||||**235112**|
||||3439
-
31597
286
4184
125
31112
6596
11765
152
-
3817
81963
2854
36
1136
-|
||||**179062**|
||||56050
144178|
||||**200228**|
7
## **Ignite Hubs Statement of assets and liabilities at 31 December 2024**
**----- Start of picture text -----**
2023 2024
(As restated)
£ Cash assets £
144178 Bank accounts 200228
144178 200228
Liabilities
(828) Independent examination (864)
(6517) HMRC - Tax and NICs (2700)
-
(580) NEST - Pensions
(7925) (3564)
**----- End of picture text -----**
These financial statements are accepted on behalf of the charity by:
Signed ___________________________________ Dated ___________ 2025-10-13 Graham Bowles, Trustee
8
## **Ignite Hubs Notes to the accounts for the year ended 31 December 2024**
## **1. Receipts & payments accounts**
Receipts and payments accounts contain a summary of money received and money spent during the period and a list of assets and liabilities at the end of the period. Usually, cash received and cash spent will include transactions through bank accounts and cash in hand.
## **2. Grants & donations**
|United St Saviours
GSR Foundation
School for Social Entrepreneurs
St Olave's Foundation
Hatch Enterprise
Community Southwark
Jack Petchy Foundation
Southwark Council
Haberdashers
Albion Street Community Charity
Team London Bridge
Notting Hill Genesis
Clarion
London Community Fund
Donations - Corporate
Donations - Public|**Unrestricted**
**£**
15000
25000
1500
3000
500
400
-
-
-
-
-
-
-
-
52285
35784
**133469**|**Restricted**
**Total**
**£**
**£**
-
15000
-
25000
-
1500
-
3000
-
500
-
400
3200
3200
22246
22246
5000
5000
1000
1000
3000
3000
16570
16570
10000
10000
10000
10000
20597
72882
-
35784
**91613**
**225082**|
|---|---|---|
## **3. Funds analysis**
|**Restricted funds**
Programme delivery
Online Learning Platform
**Unrestricted funds**
General fund|**Opening**
**balance**
**(As restated)**
**£**
9782
-
**9782**
134396
**134396**|**Receipts**
**£**
90046
10000
**100046**
135066
**135066**|**(Payments)**
**£**
(67714)
(10000)
**(77714)**
(101348)
**(101348)**|**Closing**
**balance**
**£**
32114
-|
|---|---|---|---|---|
|||||**32114**|
|||||168114|
|||||**168114**|
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## **Ignite Hubs**
Programme – STEM coding classes equipment
Online Learning Platform - Delivery of online STEM coding classes
## **4. Premises & staff**
The premises are provided by the local authority free of charge, the classes are delivered in meeting rooms of the libraries as they are free and are for the community.
## **5. Trustees’ remuneration**
Trustees received expenses of £17.25, there were no remuneration or benefits in this period.
## **6. Related party transactions**
- There were no related party transactions in this period.
## **7. Glossary of terms**
**Creditors:** These are amounts owed by the charity, but not paid during the accounting period.
**Restricted funds:** These are funds given to the charity, subject to specific restrictions set by the donor, but still within the general objects of the charity.
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