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2025-03-31-accounts

Charity Registration No. 1014056

Company Registration No. 03236229 (England and Wales)

THE NAZ PROJECT (LONDON)

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Tina St Leger
Professor Mark Nelson
S Nazerali
Adriana Wong
T Rosemin
Secretary Parminder Sekhon
Charity number 1014056
Company number 03236229
Registered office 30 Blacks Road
London
W6 9DT
Independent examiner Mark Taylor
HW Fisher Professional Services Limited
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
Bankers National Westminster Bank Plc
25 Shepherds Bush Green
London
W12 8PR

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) CONTENTS

Page
Trustees' report 1 - 32
Statement of trustees' responsibilities 33
Independent examiner's report 341
Statement of financial activities 35-36
Balance sheet 37
Statement of cash flows 38
Notes to the financial statements 39 - 50

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report which also includes the directors' report as required by company law and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in Note 1, to the accounts and comply with the Charitable company's Memorandum and Articles of Association, the Companies Act 2006, and Accounting and Reporting by Charities: 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 ("FR5102"), (effective 1 January 2019).

Objectives and Activities

The charity was incorporated on 9 August 1996 and is governed by its Memorandum and Articles of Association, which were amended by special resolution on 15 October 2002.

Nazir was a Pakistani Muslim, married with two children. He was also a closeted gay man who was living with HIV. When his status became public, he was rejected by his mosque, ostracised by his community and found no social support that understood that he had more than one identity.

Naz was set up in his memory and is one of the largest sexual health charities in London initiated and led by Global Majority communities. It is also one of the longest established charities of this type and focuses predominantly on sexual health improvement and HIV support services for Black, Asian and Global Majority communities.

The work of the organisation is delivered through four key work streams:

  1. Sexual Health Promotion including targeted support for Global Majority LGBTQ+ communities, faith communities, and those at risk of acquiring HIV, STIs and experiencing poor sexual health

  2. HIV care and support services, for people living with and affected by HIV

  3. Clinical Services: Counselling Services, as well as HIV and STI testing and screening

  4. Research, influencing and policy development

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

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The Naz Board, staff and volunteers are recruited from the communities we seek to impact, and support is available in multiple languages. Today, Naz offers the most relevant range of sexual health services and programmes, specifically for people from Global Majority communities.

Public Benefit

The trustees confirm 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. The purpose of the charity is enshrined in its objectives and mission statement. The trustees ensure this is carried out for the public benefit by delivering a range of activities to meet its intent.

Reserves Policy

The trustees have agreed a reserves policy whereby the free reserves (unrestricted funds held in net current assets, excluding funds held in tangible fixed assets) held by the charity should be equivalent to the value of approximately 3 months of non-discretionary resources expended (£200,000).

As at 31 March 2025, free reserves, as defined above, amount to £237,276 (2024: £183,999). This is an increase of £53,277.

Overall (unrestricted & restricted):The charity saw a deficit in the 2024/2025 financial year of £92,072 . Charity managed to secure grants and funds from the funders as previous year and kept linear relationships with funders and donors.

Just unrestricted: The charity saw a surplus in the 2024/2025 financial year of £53,277 on unrestricted funds. Charity managed to secure grants and funds from the funders as previous year and kept linear relationships with funders and donors.

A significant proportion of current costs is funded by unrestricted income, from a variety of funders, and is therefore predictable and managed. Should the level of funding decrease significantly then associated costs would also decrease and free reserves would enable current activities to continue in the short term.

The charity continues its focus on balancing the current needs of delivering critical prevention and support services, meeting the needs of its beneficiaries, whilst increasing its free reserves to the level determined by its policy.

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Recruitment, induction and training of trustees

The governing body of the charity is the board of trustees which is comprised of five members.

Trustees are appointed by an open recruitment process. Potential trustees can be recruited through recommendation, referral from a recruiting organisation or as a result of advertisement. Potential trustees will, in the first instance, be met by the CEO and/or Chair and be given an overview of the organisation from an operational perspective.

Potential new trustees will be given written background information about the organisation and will be invited to meet with representatives of the board. The subsequent meeting with members of the board will ascertain their skills, background and professional experience of working within a governance role. Following this meeting and upon receipt of references, recommendations will be made to the board of trustees and, if there is agreement, the new candidate will be invited to attend the subsequent board meeting.

The Company Secretary will then notify Companies House of the appointment. Trustees are appointed for a period of four years and can serve for a maximum of eight years. Each of the trustees is also a member of the company and guarantees to contribute up to £1 to the assets of the company in the event of a winding up.

The Trustees delegate the day-to-day management duties of the organisation to the CEO and Senior Management Team.

The Charity conducts risk assessments covering all of our work. The highest level of risk assessment identifies core areas of management and is reproduced below.

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Risk Factors

----- Start of picture text -----
Area Potential Issue Mitigation
Financial - Insufficient funds raised to - A significant proportion of current
meet costs costs is funded by unrestricted income,
from a variety of funders, and is
therefore predictable and managed
- Loss of contracts due to the - Expansion of new funders and
commissioning environment partnerships within the funding mix
continues
- Loss of contract due to poor - Programmes matrix updated once a
performance month, any failing programmes
identified with mitigations
- Impact of external factors - Reserves are being built up to allow for
continued operation in the face of
external factors
Programmes - Failure to complete objectives - Management and staff clear on each
project objective, regular check-ins with
key funders and contractors on progress
of programmes
- Programmes matrix updated once a
month, any failing programmes
identified with mitigations in place
- Failure to recruit appropriate - Naz has robust recruitment
staff to deliver against contract procedures, including interview,
references and DBS checks
Clinical - Staff and volunteers not - Staff and volunteers trained once a
competent to perform point of year, monthly supervision for those
care testing providing HIV/STI testing
----- End of picture text -----

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HR - Staff leave without adequate
succession plans in place
- Staff lack up-to-date
competencies around sexual
and reproductive health		 - Strong SMT, clear existing plans in
place for the senior and specialist roles,
exit interviews
- Yearly appraisals and staff training and
personal development opportunities
available

Board of Trustees

The trustees who served during the year and up to the date of approval of the financial statements are:

Sanjay Nazerali
Chair		 Adriana Wong
Treasurer
Tina St Leger Professor Mark Nelson Tai Rosemin

Senior Management Team

Parminder Sekhon
Chief Executive		 ~~Avanti Arseculeratne~~
Sexual Health Programmes
Manager		 Vanessa Apea
Medical Director
Sanjay Kumar
Head of Counselling		 Cristina Monk
Fundraising and Grants
Manager		 Christina Ganotakis
Policy and Insights Manager
Kim Hawkins
Research and Policy Officer		 ~~Ella Frost~~
SASH Peer Mentoring Co-
ordinator

The Trustees wish to thank all the staff and volunteers who have played a part in the successful delivery of services during the course of the year.

~~Staff~~ ~~Volunteers~~
~~18~~ ~~31~~

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NAZ Organisational Chart (as of 31 March 2025)

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Pay and Remuneration

Naz is committed to the principle of equal pay for people of all genders. In this context 'pay' includes not only remuneration, but also other benefits such as promotion and training opportunities and access to facilities provided within the employment package from time to time. Naz is committed to introducing and maintaining pay systems which are free from sexual bias.

People employed by us are entitled to equal pay if they are undertaking work which is substantially similar or is of equal value to the organisation, unless there are specific and clear reasons unconnected with their gender which explain and justify a differential in pay. In some cases, individuals carrying out similar work may receive different salaries because of seniority, qualifications and other such factors.

Pay scales are in line with national averages for the activities nominated. Any increase to pay will be subject to a board motion, and agreement with the Finance Manager, Line Manager and CEO. Any increase will take effect from 1 July following the review. Pay will not be reviewed whilst employees are in their probationary period.

Funders

The trustees, staff and clients of NAZ would like to take this opportunity to thank all the funders from 2024/25. Without their invaluable support, it would not have been possible to operate.

----- Start of picture text -----
Funders Area
-
Local Authorities (Hammersmith and Fulham,
Kensington and Chelsea, Westminster and Hounslow,
Hounslow, Lambeth Southwark and Lewisham)
-
National Lottery Community Fund
- Gilead Sexual Health Promotion
- Fast Track Cities
-London Borough of Hounslow
- ViiV Healthcare
- Central North West London NHS Trust
-
National Lottery Community Fund
- Gilead Operations
- Henry Smith Charity Clinical Services
- Gilead
- MSD Policy, Research and Influencing
----- End of picture text -----

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Summary of results

The net incoming resources for the year amounted to £686,029. Restricted reserves carried forward amounted to £93,780. Unrestricted reserves to be carried forward amounted to £237,276.

Naz is a sexual health charity whose services are dedicated to people experiencing better sexual health. We do this because there is a significant gap in the sexual health outcomes of Global Majority communities, compared to the general population. Everything Naz does works to reverse this trend. In addition to a programme of project work aimed at improving sexual health equality, Naz addresses these inequalities through influencing policy and practice. We seek to promote the needs of Global Majority communities and bring the latter to the attention of government, health providers and other third sector organisations with the aim of sharing best practice and ensuring appropriate service provision.

Last year the Naz Board of trustees set out a vision for the work the charity would undertake to improve outcomes in sexual health and HIV for Global Majority communities. We committed to re focusing our work with young people and expanding our work at the borough based level. We believe it is important to understand the current political landscape that Naz operates within. The current landscape of increased hate crimes, mental health epidemic and underinvestment threatens the health, wellbeing, and security of Global Majority communities. Between the conclusions of the 2021 Commission on Racial Disparities and the challenging economic climate the socioeconomic environment continues to jeopardize the life-hood of society’s most vulnerable and marginalised.

24-25 Operations Overview

Operations in 2024-25 saw Naz develop its core mission to support Global Majority populations at elevated risk of HIV and poor sexual health outcomes, to achieve better physical & mental health both nationally and regionally. As one of the few People of Colour-led HIV and sexual health organisations left in London, Naz’s strategic contributions are shaped both by its grassroots services and the data collected and researched by our policy function, which highlights the need for targeted, culturally aware interventions. The far-right anti-immigration race riots in the summer of 2024 proved again when protective factors are absent, people of colour who are already shouldering the largest burden of that inequality, feel at elevated risk and this compounds the acceleration of poor health outcomes.

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24/25 has been another busy year for Naz operationally. This year we are delighted to have been awarded three new local authority contracts. Firstly, across Lambeth Southwark and Lewisham delivering HIV and sexual health awareness with our lead partners Turning Point and CAHN; secondly, the Cherish Hounslow service; and thirdly, restarting our young people’s offer with new school and college settings intervention. In addition, we are taking our interventions within the Prison service at Feltham. Other highlights include the launch of our second Global Zero HIV Stigma Day on 21st July 2024 which saw a global reach of 1 million people and the launch of an Activists in Action book series celebrating the life of Prudence Mabele. Joyful Noise Choir performances included three memorable calendar dates: a Zero HIV Stigma Day Video; a Chelsea Flower Show Performance supporting the showing of the THT garden; and Gilead’s World AIDS Day commemoration.

Naz has been incredibly proud of 3 key partnerships with University College London Hospital (UCLH) this year. Firstly as part of the seminal Verdi Study Naz was asked to co-chair a Community Advisory Board for a MPox Study in partnership with European AIDS Treatment Project, focusing on lessons learnt and media representation in 4 countries - UK, Nigeria, Italy, and Thailand. Secondly, our multi-dimensional collaboration with UCL Students' Union producing a number of public health research outcomes relating to the experiences of young people and sexual health on campus; and finally our ongoing partnership with the Find & Treat Team working with asylum seekers and supporting newly arrived migrants (less than 3 days in the UK). This last partnership offers screening and engagement support in 5 languages. This is in addition to the extensive work we have delivered since April 2024 and the 1-to-1 re-engagement work supporting people diagnosed with HIV and Hepatitis as part of the opt-out A&E testing.

Naz has been asked to take part in numerous Panels; from the closing plenary of the HIV prevention England Conference, Gunnersbury Museum, BFI LGBT Flare, Young people’s Hounslow & APPG events, Unconference Fast track Cities, and for Hounslow Council in LGBT History Month. Naz has launched 3 new peer support groups; one for South Asian women and non-binary people (Kali Kiss in partnership with Club Kali), Black gay men (No More Silence); and one for Black women (Sisterhood). The Dost group (for GBTQ+ South Asian men and non-binary people) has celebrated 2.5 years and has grown in strength, numbers and stature.

The following key statistics highlight the continued challenges in HIV testing, treatment, and mortality experienced across Global Majority communities in the UK:

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Our Policy and Advocacy work stream has resulted in a number of collaborations and outputs. The All-Party Parliamentary Group on HIV, AIDS and Sexual Health conducted an inquiry into the current state of sexual health and HIV services in the UK. For this, Naz provided evidence specific to Black, Brown and Global Majority communities; our service users’ needs that are met and unmet; identified funding and resourcing barriers; and challenges the current workforce faces.

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Working at the intersections of HIV and ethnicity, sexual orientation and gender, Naz continues to center the need for good mental health at the heart of all the interventions we deliver. Naz has been at the front line of managing the mental ill-health epidemic.

Multiyear funding awarded from the National Lottery Community Fund enabled Naz in year 3 to continue focusing on developing its leadership infrastructure to strengthen our delivery model. Personal health is interconnected with various facets of life including employment, personal and community safety, housing and access to social and health services, and education. When we want to understand how a person’s health is affected by illness or disease, we need to think about the bigger picture. It’s more than just health. In 2024-5 Naz will continue to address the health challenges Global Majority communities face, and continue to take the much needed holistic approach to addressing other areas of population health where they are disproportionately impacted.

2024-25 Fundraising Overview

In the 2024 to 2025 financial year, Naz raised £218,254 in new income, alongside £14,844 in inkind donations received through goods and services. This growth reflects not only an increase in financial support but also the strength of our strategy to raise income in alignment with our mission and values.

Naz employs a "Growth with Purpose" model. This means we prioritise funding opportunities that directly serve our target populations rather than seeking income for its own sake. Every grant application and funding bid is made following careful research into the specific needs and wants of the communities we support. This approach ensures that our fundraising efforts are both strategic and meaningful, designed to enhance the delivery and quality of our services.

A significant milestone this year was the hiring of our first dedicated fundraiser in six years. Her role has focused on diversifying our funding streams and establishing long-term partnerships with trusts, foundations, and corporations. This effort is already paying off, as Naz successfully secured six grants from previously unknown trusts, foundations, and corporate donors, as well as two new institutional partnerships during this financial year. These new relationships represent important steps toward building a more sustainable and holistic funding structure that truly benefits our service users.

This financial year, approximately 50% of our new income came through borough-level funding,

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which reflects the success of our expanded work with local authorities. In particular, we formed large-scale partnerships with several London boroughs, including Lambeth, Southwark, and Lewisham. These collaborations have driven growth not only in income but in the depth and breadth of our sexual and mental health services, allowing us to reach more people with culturally competent and community-informed care.

The remainder of our income was drawn from a diverse mix of sources. Corporate donors accounted for approximately 23% of new income, while 22% came from trusts and foundations. Earned income contributed 4% and individual donations made up the remaining 1%. This blend of funding sources illustrates our ongoing commitment to building a diverse and resilient income base that supports our long-term sustainability.

Naz remains committed to fundraising that is ethical, strategic, and grounded in the lived realities of the communities we serve. Our goal is not simply to grow, but to grow with purpose, ensuring that every contribution strengthens the reach and impact of our work.

Key highlights during the year include:

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Inequalities in Black Communities”, hosted by Florence Eshalomi MP, co-Chair of the All Party Parliamentary Group on HIV, AIDS and Sexual Health.

Naz saw changes to the workforce in 24-25 with the departures of several members of staff for a range of personal and professional reasons. We also saw several new staff join the organisation.

We said goodbye to many of our staff in 2024-25:

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We are pleased to welcome the following staff and Trustees who have joined Naz this year:

Key Deliverables: Our Footprint in 2024-2025

Key Deliverables: Our Footprint in 2024-2025
Number of people supported living with HIV 173
Counselling hours delivered
 2,500
1-to-1 advocacy and support clients 130
Support group sessions run 64
Total users reached through social media
 95,000
Number of people reached through in-person outreach
 723
Volunteering opportunities 31
People reached through holistic and wellbeing interventions 167

We continue to see clients from across all 33 London boroughs and have a steady inflow of clients from outside of London.

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1. Sexual Health Programmes

SASH Partnership

SASH is a partnership led by Turning Point, alongside Naz, London Friend and METRO Charity, which offers sexual health services to people aged 14+ who live in three London boroughs: Westminster, Hammersmith & Fulham, and Kensington & Chelsea, under a communityfocused model.

Naz's contribution includes two Global Majority sexual health engagement coordinators, a health and well-being coach, a counsellor, a care coordinator and the peer mentor lead for Global Majority women. They support clients in the three boroughs with 1-to-1 key working, advocacy and referral, group work and counselling, workshops and events and complementary therapy (reflexology).

Highlights

Programme spotlight, Health and Wellbeing Coaching

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personalized, goal-orientated health and wellbeing plan for each individual that reflects their preferences and choices, and ongoing coaching on achieve and maintaining these improvements.

Programme Spotlight, Peer Mentoring

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Selection of SASH Events

Cherish Hammersmith & Fulham MINT programme

Naz and METRO Charity provided mental health support in Hammersmith and Fulham as part of the Mental Health Integrated Network Team (MINT). We provided MH services that are holistic and inclusive, understanding intersectionalities around gender, sexuality and ethnicity, including culturally appropriate therapeutic support and holistic approaches to those residents who have experienced trauma, particularly those whose trauma relates to migration and where their first language is not English. This service included Holistic health and wellbeing interventions (reflexology); Drop-in African dance wellbeing sessions; one-toone psychotherapeutic counselling; structured mental Health and wellbeing peer support groups, including therapeutic groupwork; and one-to-one advice and advocacy casework.

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This service ended 31[st] March 2025.

Cherish Hounslow

Cherish Hounslow was a mental health community project partnership provided by Naz and METRO. The project provided 1-1 advice and advocacy, group work, social groups and counselling for LGBTIQ+ and Global Majority people in Hounslow who are experiencing mental health issues.

Highlights

“It was an amazing experience... the best experience and a great way to start my new year. Highly recommend [the Naz reflexologist] who has healing hands, 5 stars”

– Reflexology client

Fast Track Cities - Peer HIV Support

In partnership with Positively UK, Sophia Forum and Plus Health, Naz supplements the existing Chelsea and Westminster HIV care pathway with optimised peer-to-peer mentoring interventions across clinics in West and Central London. This supports retention in care for those newly diagnosed or lost to care, providing a community link before they leave the clinical setting. Naz provides 1-1 advocacy and casework, group work, referrals and signposting.

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Partnership with UCH – “Find & Treat” Blood-Borne Virus Screening

Since March 2021 and in partnership with the Find &Treat Health Inclusion team at University College Hospital NHS Foundation Trust, Naz provides a specialist outreach practitioner and several peer workers who provide interpretation and resident engagement for Covid-19 vaccine take up and Blood-Borne Virus (BBV) screening support in Arabic, Farsi, Sorani Kurdish and French.

Our peer workers provide engagement and translation support to large-scale BBV screening and vaccination drives in across Initial Accommodation Centre hotels all over London. We have also been able to offer a chaperone service for the most vulnerable clients to hospital appointments.

Our specialist outreach practitioner liaises with asylum seekers, rough sleepers, people experiencing homelessness, and people who use drugs and alcohol. His role involves finding people that have been lost from the healthcare system and therefore have not started or completed treatment for a variety of high impact diseases including hepatitis B and C, TB, HIV and other STIs. His support can include clinic referrals, chaperoning to clinic or hospital appointments, delivering medication to homes or hostels and contacting certain patients daily to ensure medication has been taken.

In March 2025, Naz began a new 3-month pilot with the UCLH Find and Treat team to provide health screenings for newly arrived migrants in West London. This public health “one-stop-shop” includes screening for TB and BBVs, with Naz providing eight peer engagement workers offering face-to-face interpretation in Kurdish, Farsi, Arabic, French, Amharic, and Tigrinya. The partnership demonstrates the power of collaboration between community health workers and clinical teams, especially in meeting the needs of vulnerable communities.

National Lottery Thought Leadership

The National Lottery Community Fund funded a 3-year programme in October 2022 to support Naz develop leadership capacity and thought leadership. In 2024-5 we have delivered on key outputs including recruitment for the thought leadership posts (Programmes Manager; and Fundraising Manager); as well as continued funding for our Counselling Services Manager and Policy and Insights Manager. With the capacity-strengthening and improved programming and communication we have been able to achieve with the Thought Leadership grant, we have

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successfully secured further grants including our youth pilot programme (NextGen) and the Lambeth, Southwark and Lewisham work (see below in this section 1 for both); and have also increased our social media engagement (see section 3, below).

- Lambeth, Southwark and Lewisham mobilization period

In October 2024, Naz in partnership with Turning Point, CAHN, IRMO and Spectra, won a 3-year contract from the three London Boroughs of Lambeth, Southwark and Lewisham under two separate lots to provide sexual health services for marginalised populations.

This new work will include outreach with global majority communities, using cultural insight to build trust and provide accessible services; and with diverse groups of marginalised communities (including asylum seekers, refugees, and LGBTQ+ populations).

This work will commence in April 2025, though during the mobilization period in February and March 2025, Naz and project partners have secured three weekly hubs in the triborough: Lewisham Shopping Centre, Peckham Palms, Lambeth College and Brixton Library. From these bases we will provide health activities including point-of care rapid HIV testing, motivational interviewing, identifying risky behaviours and referring people into appropriate sexual health services.

For National HIV Testing Week in February 2025, Naz and partners held outreach stalls across LSL and carried out 64 point-of-care HIV tests, gave out HTI/HIV home testing kits and sexual health supplies. Feedback highlighted the accessibility of our services and the importance of our service to individuals who appreciated being able to test outside of clinical settings.

Positive Touch – HMP Feltham

Positive Touch was run as a pilot project at HMP Feltham, with a certified reflexologist delivering 45-minute reflexology treatments over a 12-week period to 15 participants aged 18-26.

Reflexology is a Complementary Therapy technique based on Traditional Chinese Medicine which applies gentle pressure to the feet or hands at spots which are believed to correspond with other organs, tissues and muscles, relieving stress and pain in these parts of the body.

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During the 45-minute treatments, the reflexologist and participants also discussed life and wellbeing across a range of topics including their health, behaviours and lifestyle.

Highlights:

“This has helped me physically and my moods. It’s centred me somehow… I feel calm.”

“ The first time I came here, I just thought ‘let me try it’, I didn’t know I would relax and like it just like that.”

“Me and the other boys on my wing, we been talking about this, it’s mad [because] we all say the same thing – like we feel different, light, it’s mad just feeling so different. From having my feet done. Can’t lie, it’s so good” – Feltham Positive Touch Participants.

Project NextGen

Naz worked with secondary school, college, and university students across Camden, Lambeth, and Croydon as a part of its youth wing of work.

Croydon – Year 10 and sixth form students

Our programmes facilitator ran a successful pilot in a Croydon school with Year 10 and Sixth Form students themed around sexual health and relationships. Through the six-week programme, we created space through sustained conversations for young people to explore topics around healthy relationships, setting boundaries, harmful gender norms, technology-facilitated violence and issues with access to mental health and sexual health services.

Naz staff act to reframe and question problematic perspectives that may arise (often due to ingrained gender norms and expectations) and encourage the young people to think

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critically on what they believe and how they can respond to social and personal situations in healthy and constructive ways.

Highlights

Responding to the prompt, what did you learn from the session?

What was the best part of the session?

South Bank College – RSE and work experience

From March – May 2025, Naz is carrying out a Relationships and Sex Education/ Work Experience offer with Health and Social Care students at the Nine Elms campus of South Bank College (a Sixth Form College working with ages 16-19. A Naz facilitator held weekly 1.5 hour-long sessions with students to explore mental health and sexual health-related

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topics that are affecting students. The facilitator then provides students with accurate information and resources on these topics.

In April and May, students will create a community-oriented project to support their peers to improve their own mental and sexual health. This will also provide an opportunity for students to gain work experience by better understanding the work of a health charity.

UCL - Community research Initiative

Naz partnered with the Community Research Initiative at UCL to run a 6-month programme with student research volunteers. This was in addition to their regular study programmes. From November 2024 until March 2025, our programmes manager worked with a group of students to explore sexual health and mental health challenges and areas for improvement in their university context. Students took part in three sessions to brainstorm issues based on their own experiences. They then created a survey to gather broad, exploratory insights about student well-being, lived experiences, and access to support systems in relation to sexual and mental health. Data was gathered during outreach, and put together as a final report.

Highlights

Reimagining RSE

The Reimagining RSE project is led by social sciences researchers at the Universities of Surrey and Bedfordshire and has the aim of co-creating practical resources to upskill educators in facilitation and engaging young people in sex and relationships education. Naz

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

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joined their Reimagining RSE Trailblazers group in March. This group brings together school-based professionals and those working across wider youth, health and education sectors; and will allow Naz to further develop the resources and activities developed within Project NextGen for future sessions.

Peer Support groups

We run several support groups at our Hammersmith Office providing a space for group members to meet peers, discuss sexual health-related topics and stigma, and reduce social isolation. These gatherings enable people to engage in meaningful about identity, relationships, and experiences; while also meeting new people, engaging with community members, and taking part in fun, community building events.

Joyful Noise Choir

Joyful Noise Choir was established in 2013 and is a multicultural award-winning choir for people living with HIV, bringing together community for people from all walks of life to reduce isolation and battle HIV stigma. Participants come from across London and the surrounding counties. This year we held another successful season of the Joyful Noise Choir.

“I love singing and performing, so this is a great opportunity to engage in a meaningful project, I also like the fact that it’s for people living with HIV and I feel accepted and loved, and I can be myself fully without feeling stigmatised!” - Joyful Noise Choir member

“It is the perfect stress buster and a fun way to spend a few hours midweek. I left feeling

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

energised and very very joyful ” - Joyful Noise Choir member

Dost

Dost is a peer support group meeting monthly as a safe space for South Asian GBTQ+ men to meet, share, learn and support each other with issues they face, as well as reducing isolation. The format includes pair work, open discussion, activities and the occasional guest speaker.

“The topic was interesting coming from a gay man’s perspective growing up in a heteronormative society with cultural undertones. I felt like we explored topics rarely discussed and talked about within our community” – Dost member.

“A fab session allowing an important and stigmatised topic to be discussed” – Dost member.

Peepal

The Peepal group is a monthly peer-led social support space for people of South Asian heritage living with HIV to feel confident and living well with HIV. The group provides social support in a safe and confidential facilitated space and offers the opportunity to connect, discuss issues, and build skills to improve health and wellbeing. Monthly topics and themes are explored to support the members’ journeys of growth and self-discovery.

 15 new members this year, with a total of 42 registered members, with attendance

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

from 5-10 people per session.

“The mindful colouring workshop was beautiful because it was helpful for my mind” – Peepal member

Kali KISS

In partnership with Club Kali, Kali KISS is a monthly support group for South Asian LGBTQ+ women to meet, form community, share experiences and support each other meet, share, learn and support each other with issues they face, as well as reducing isolation.

“The people here - facilitators and attendees - were warm, funny and inclusive. Loved it!” - Kali Kiss Member.

“Overall it makes me feel comforted and it takes out my attention from stress to happiness…” - Member who attended DOST/Kali Kiss December Social.

No More Silence

No More Silence is a new monthly group for Black/dual heritage GBTQ+men and nonbinary people of African and Caribbean heritage. The group is a safe, facilitated space for those attending to connect, discuss issues they may be affected by and reduce social isolation. NMS has had 17 new members this year signaling a promising new space for peer support and connection.

“This is a place where I can talk about things with people that look like me and have

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

the same feelings about some things.” - No More Silence Member.

Sisterhood Group

In March 2025 Naz relaunched our Sisterhood group, our community for Black African and Caribbean women and non-binary people. Each month we'll be hosting fun and free craft and activity workshops with varying themes all while creating a supportive space.

2. Clinical Services

Naz offers an Integrative psychotherapeutic counselling service pan-London and to surrounding counties, online and in-person to adults. Clients are primarily people from Black and Brown and other global majority communities. The service offers support for individuals struggling with struggling with various realities in their life, be it their relationships, work-life balance, anxiety, and depression, understanding and accepting their gender and/or sexual identities, family issues, difficulties arising from being new in the UK or being an asylum seeker or refugee, dealing with fleeing trauma or threats of violence.

We receive referrals from a range of organisations including sexual health clinics, Women’s AID, Solace and Turning Point, as well as self-referrals. Many referrals come to us due to HIV diagnosis or difficulties arising from living with HIV. We have people come to our service as survivors of sexual abuse as children or adults, or having been victims of abuse of various kinds. We help them with the impact of these on their day-to-day life and relationships, and then work alongside supporting their psychiatric treatment where they receive help with trauma.

We now offer up to 6 sessions of holding, listening-ear support to people who have been assessed as unsuitable to access our service (typically due to requiring more specialist support from other agencies) but who would benefit from being held and supported while they wait for the referral process to complete.

Highlights

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

from a diverse range of ethnicities, genders and sexualities, reflecting the clients we work with.

“Counselling has helped me to navigate my thoughts, it has helped me navigate my thoughts in a positive way with someone.” – Counselling client

“Thank you so much Naz team. I’m in a better space more able to take action. These sessions have moved me on.” – Counselling client

HIV testing

As part of our UCH ‘Find and Treat’ project (see above) Naz staff have supported HIV and STI testing alongside clinical staff, and supported the engagement of asylum seekers living in hostels and other marginalised communities including people who experience homelessness and sex workers. We also delivered information and testing services during National HIV Testing Week as part of the SASH partnership.

3. Policy, Research and Influencing

Naz’s policy work aims to: strengthen our influencing relationships; share best practice and evidence on inequalities for Black, Brown and Global Majority communities with the wider sector and UK parliament; as well as global work to highlight the structural barriers impacting our communities.

Programme spotlight - Zero HIV Stigma Day, 21st July

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Naz, in partnership with Interna�onal Associa�on of Providers of AIDS Care (IAPAC) and Fast Track Ci�es, created the global an�-HIV s�gma awareness campaign ‘Zero HIV S�gma Day’, held on the 21[st] July every year.

A�er its launch last year, 2024 was the second ZHSD of ac�on, themed “Beyond Labels: Redefining HIV Narra�ves”. Naz engaged with UK and global stakeholders, gaining endorsements from UNAIDS, Elizabeth Taylor AIDS Founda�on, HIV.gov, the UK All Party Parliamentary Group on HIV, Aids and Sexual Health, the U.S. Department of Health, the Mayor of London, the US Centres for Disease Control and Preven�on, and Grindr. One million people engaged with the campaign online.

We wrote and published a children’s book “Ac�vists in Ac�on: Prudence Mabele” showcasing the life and legacy of the late South African HIV ac�vist Prudence Mabele (21st July 1971 - 10th July 2017), who was the first Black woman in South Africa to publicly share her HIV status and worked to reduce HIV s�gma and gender-based violence.

Looking forward to the 2025 day of ac�on, in December 2024 we launched the theme for ZHSD “Awareness to Ac�on: Our Path to 2030”. Since then, we have secured a partner in Edelman UK to host an in-person event in London leading up to the day of ac�on in July 2025.

Project spotlight – One Voice Network

One Voice Network is an independent collective of Black-led community organisations and allies, seeking to improve the health and wellbeing of Black communities in the UK who are affected by HIV. In September 2024, Naz was elected as a co-Chair of the One Voice Network which later expanded its membership to 15 members in Spring 2025.

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

project’s commissioners report, One Voice Network held a Parliamentary event “Ending Health Inequalities in Black Communities”. This was hosted by Florence Eshalomi MP, co-chair of the All Party Parliamentary Group PPG on HIV, AIDS and Sexual Health. Naz’s local MP, Andy Slaughter MP for Hammersmith and Chiswick attended in support.

Other Policy Highlights

Communications Work

As part of our Policy, Research and Influencing stream, Naz Communications maintained a strong online profile, facilitating engagement for Black History Month, LGBT History Month, Zero HIV Stigma Day, Transgender Awareness Week, World AIDS Day and National HIV Testing Week; as well as ongoing social media posts several times a week.

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

4. Volunteering

Naz's volunteers, predominantly peer-led, have an astounding impact on the work that we are able to do and the positive changes we make to the lives of clients. Volunteer roles range from peer mentors to counsellors to interns, and many of our support groups are run with the assistance of members in setting up the rooms, organizing socials, and making new members feel welcome. We would like to acknowledge and thank each of our volunteers for their passion, skills and time given to improve the health of our Black, Brown and Global Majority clients and communities.

5. Plans for the future

In the next 12 months we will work to:

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THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) TRUSTEES’ REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

32

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES’ RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also the directors of The Naz Project (London) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. So far as each of the Trustees is aware at the time the report is approved:

The report of the Trustees has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

On behalf of the Board of Trustees,

Sanjay Nazerali Chair of Trustees

Dated:

33

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER’S REPORT

TO THE TRUSTEES OF THE NAZ PROJECT (LONDON)

I report to the trustees on my examination of the financial statements of The Naz Project (London) (the charity) for the year ended 31 March 2025 as set out on pages 35 - 50.

Responsibilities and basis of report

As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act

Independent examiner's statement

Since the charity’s consolidated gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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:

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 financial statements to be reached.

Mark Taylor Chartered Accountant

HW Fisher Professional Services Limited

Acre House 11-15 William Road London NW1 3ER United Kingdom

Date

34

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Note
INCOME
Income from:
Grants and donations
3
Charitable activities
4
Other trading activities
5
TOTAL INCOME
EXPENDITURE
Expenditure on:
Charitable Activities
6
TOTAL EXPENDITURE
6
Gross transfers between funds
Fund balances at 1 April 2024
14
Fund balance at 31 March 2025
14
Net income/(expenditure) for the year
before transfers
Net income &
Net movement in funds		 Unrestricted
Funds
2025
£
135,706
191,908
49,978
377,592
322,341
322,341
55,251
(1,974)
53,277
183,999
237,276		 Restricted
Funds
2025
£
308,437
-
-
308,437
455,760
455,760
(147,323)
1,974
(145,349)
239,129
93,780		 Total
Funds
2025
£
444,143
191,908
49,978		 Total
Funds
2024
£
393,830
186,162
41,182
686,029 621,174
778,101 658,671
778,101 658,671
(92,072) (37,497)
- -
778,101 (37,497)
423,128 460,625
331,056 423,128

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

PRIOR YEAR - STATEMENT OF FINANCIAL ACTIVITIES

INCOME
Income from:
Grants and donations
Charitable activities
Other trading activities
TOTAL INCOME
EXPENDITURE
Expenditure on:
Charitable Activities
TOTAL EXPENDITURE
Fund balances at 1 April 2023
Fund balances at 31 March 2024
Net income/(expenditure) for the year
before transfers
Gross transfers between funds
Net income &
Net movement in funds		 Unrestricted
Funds
2024
£
5,789
186,162
41,182
233,133
343,897
343,897
(110,764)
(23,084)
(133,848)
317,847
183,999		 Restricted
Funds
2024
£
388,041
-
-
388,041
314,774
314,774
73,267
23,084
96,351
142,778
239,129		 Total
Funds
2024
£
393,830
186,162
41,182
621,174
658,671
658,671
(37,497)
-
(37,497)
460,625
423,128

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Note £ £ £ £
Fixed Assets
Tangible assets 10 56,768 68,380
Current Assets
Debtors 11 196,025 61,538
Cash at Bank and in hand 173,157 395,750
369,182 457,288
Creditors: amounts falling due within
one year		 12 (94,894) (102,540)
Net current assets 274,288 354,748
Total assets less current liabilities 331,056 423,128
Represented by:
Restricted Funds 14 93,780 239,129
Unrestricted Funds 237,276 183,999
331,056 423,128

The financial statements were approved, and authorised for issue, by the trustees on 22/12/25 and signed on their behalf by:-

SANJAY NAZERALI, Chair

Company registration no. 03236229

The annexed notes form part of these financial statements.

37

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
£
Cash Flows from operating activities
Cash (used)/generated from operations
17
Net Cash used in investing activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash equivalents
Cash and Cash equivalents at beginning of year
Cash and Cash equivalents at end of year		 2025

£
£
(222,593)
-
-
(222,593)
395,750
173,157		 2024

£
10,478
-
-
10,478
385,272
395,750

38

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1) ACCOUNTING POLICIES

Charity Information

The Naz Project (London) is a private company limited by guarantee incorporated in England and Wales. The registered office is 30 Blacks Road, London, W6 9DT.

1.1) Accounting convention

The financial statement shave been prepared in accordance with the charity's Memorandum and Articles of Association, the Compnaies Act 2006 and "Accounting and Reporting by Charities: 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)(effective from 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amount sin these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. The trustees have reviewed our forecasts and concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

1.3) Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4) Income

Incoming resources are included in the Statement of Financial Activities when the charity becomes entitled to the income and the amounts can be measured reliably.

Donations are recognised on a receivable basis.

Grant and contract income is recognised upon receipt, or if earlier, at the time the charity becomes entitled to it. Where receipt is dependent upon fulfillment of performance conditions, income is deferred as appropriate.

39

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1) ACCOUNTING POLICIES (continued)

1.5) Expenditure

Resources expended are recognised in ther period to which they relate. Resources expended include attributable VAT which cannot be recovered.

Direct charitable expenditure comprises all the expenditure relating to the actiities carried out to achieve the charitable objects.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. These costs have also been allocated in full to the single charitable activity.

1.6) Cash and bank

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.7) Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 20 years straight line (length of lease) Computer equipment 4 years straight line Fixtures, fittings, & equipment 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.8) Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Tehse financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

40

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1) ACCOUNTING POLICIES (continued)

1.9) Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10) Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2) CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

In the application of the charit's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The trustees do not consider there to be any critical accounting estimates or judgements applied in the preparation of the financial statements.

41

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

3) GRANTS AND DONATIONS
Donations and gifts
Grants receivable for core activities
Prior Year
Donations and gifts
Grants receivable for core activities
4) CHARITABLE ACTIVITIES
Prevention and support
5) OTHER TRADING ACTIVITIES
Other trading activities		 Unrestricted
Funds
2025
£
191,908
Unrestricted
Funds
2025
£
49,978		 Unrestricted
Funds
2025
£
69,327
66,379
135,706
Unrestricted
Funds
2024
£
4,289
1,500
5,789
Restricted
Funds
2025
£
-
Restricted
Funds
2025
£
-		 Restricted
Funds
2025
£
114,930
193,507
308,437
Restricted
Funds
2024
£
152,128
235,913
388,041
Total
Funds
2025
£
191,908
Total
Funds
2025
£
49,978		 Total
Funds
2025
£
184,257
259,886
444,143
Total
Funds
2024
£
156,417
237,413
393,830
Total
Funds
2024
£
186,162
Total
Funds
2024
£
41,182

42

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

6) CHARITABLE ACTVITIES

Staff Costs
Depreciation
IT expenditure
Premises
Events & communications
Professional fees & consultant costs
Phone, printing and stationary
Partnership project costs
Sundry costs
Share of governance costs {see note 7}
Analysis by fund
Unrestricted funds
Restricted funds
Details of support costs are given in Note 7.
7) SUPPORT COSTS
Goverance costs
Audit fees		 2025
£
537,674
11,491
12,033
70,024
11,547
49,083
4,984
59,354
9,374
765,564
12,537
778,101
322,341
455,760
778,101
2025
£
6,254		 2024
£
381,505
13,776
13,782
84,820
10,593
62,882
12,080
45,423
9,435
634,296
24,375
658,671
343,897
314,774
658,671
2024
£
22,875
Accountancy 3,720 1,500
Independent Examiner's fees 2,563
12,537		 -
24,375

43

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8) TRUSTEES

None of the tustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year (2024: £nil).

9) EMPLOYEES

Management & operations
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
19
2025
£
491,137
37,959
8,578
537,674		 2024
Number
15
2024
£
344,011
29,254
8,240
381,505

Remuneration of key management personnel

The charity's key management personnel comprises the Board of Trustees and the senior management team. Included within the senior management team are the following:- Chief Executive, Research and Policy Officer, Head of Counselling, Finance Manager, Policy and Comms Manager, Fundraising Manager, Programmes Manager and SASH Peer Mentoring Co-ordinator. Total benefit received by the senior management team in the year amounted to £294,936 (2024: £113,665).

The number of employees whose annual remuneration was £60,000 or more were:

2025 2024
Number Number
£60,000 < £69,999 1 1

Of the employees whose emoluments exceed £60,000 is 1 (2024: 1) have retirement benefts accruing under a pension scheme.

44

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

10) TANGIBLE FIXED ASSETS
Cost
At 1 April 2024
Additions in the year
Disposals in the year
At 31 March 2025
Accumulated depreciation
At 1 April 2024
Charge for the year
Disposals in the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
11) DEBTORS
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Leasehold
improvements
197,677
-
-
197,677
135,847
9,884
-
145,731
51,946
61,830		 Computer
equipment
£
42,173
-
(26,438)
15,735
35,903
1,505
(26,438)
10,970
4,765
6,270		 Fixture, fittings
& equipment
£
16,584
-
(2,648)
13,936
16,304
102
(2,527)
13,879
57
280
2025
£
173,722
22,303
196,025		 Total
£
256,434
-
(29,086)
227,348
188,054
11,491
(28,965)
170,580
56,768
68,380
2024
£
49,112
12,426
61,538

45

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12) CREDITORS: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2025
£
31,660
35,069
265
27,900
94,894		 2024
£
33,079
29,619
342
39,500
102,540

13) OPERATING LEASE COMMITMENTS

At the reporting end date the charity had outstanding commtments for future minimum lease payments relating to property under operating leases, which fall ue as follows:

Within one year
Between two and five years
In over five years		 2025
£
45,000
140,918
-
185,918		 2024
£
45,700
180,000
-
225,700

46

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14) RESTRICTED FUNDS

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

1. National Lottery Community
Fund
2. Gilead
3. FTC
4. Positively UK
5. Mary Kinross
6. Henry Smith
7. Viiv - Choir
8. UCL NHS
9. Hammersmith and Fulham
10. Hounslow Mint
11. UCL Hillingdon
12. Feltham HMP
Total restricted funds		 Balance at
1 April
2024
£
133,583
-
3,044
-
5,000
25,429
2,923
-
63,510
5,640
-
-
239,129		 Income
£
58,242
10,000
-
16,062
20,000
57,300
-
76,000
24,890
26,000
14,040
5,903
308,437		 Expenditure
£
(117,318)
(10,334)
-
(20,077)
(24,827)
(63,456)
(3,200)
(75,866)
(87,131)
(31,879)
(15,515)
(6,157)
(455,760)		 Transfers
£
-
334
(3,044)
4,015
(173)
-
277
(134)
(1,269)
239
1,475
254
1,974		 Balance at
31 March
2025
£
74,507
-
-
-
-
19,273
-
-
-
-
-
-
93,780

The expenditure for each project can be grouped into three key elements:

An amount that has been recharged to cover overheads and management costs of the staff members.

Purposes of restricted funds

  1. Core funding to strengthen our leadership infrastructure at Naz. The fund supports the delivery of our Business Manager, Programmes Manager, Policy and Comms Manager and Mental Health Services.

  2. Policy - Global Health Collaborative and subsequently Zero HIV Stigma Day.

  3. Faith work interventions in faith settings - education and awareness and HIV and STI's. The transfer out of the fund of £3,044 is to the general fund and relates to expenditure that was incurred in the prior years, but not allocated to the project.

  4. Naz is a junior partner in Fast Track Cities programme to deliver HIV Chel West Hospital Peer support interventions for people living with HIV.

  5. Counselling and therapeutic support, funded by Mary Kinross.

  6. Counselling and therapeutic support, funded by Henry Smith.

  7. Funding from a pharma for Joyful Noise choir.

47

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

14) RESTRICTED FUNDS (continued)

  1. Health Screening support for asylum seekers - interpretation and engagement.

  2. Naz delivers mental health and wellbeing support since April 2022. The project finished during the financial year and the transfer out represent expenditure that was incurred in the prior financial year but not allocated to the project.

  3. Naz delivers mental health and wellbeing support to residents since April 2021.

  4. Support for newly arrived migrants - 3 month pilot in Hillingdon.

  5. Delivery of Reflexology Pilot.

Further details on the restricted funding streams are included on page 8 of the Trustees' Report.

RESTRICTED FUNDS - PRIOR YEAR

National Lottery Community
Fund
Gilead
PHE - Beards & Flushed
FTC
Let's Stop HIV
Mary Kinross
Joyful Noise Choir
Henry Smith
Viiv - Choir
UCL NHS
Positively UK
Hammersmith and Fulham
Hounslow Mint
Other
Total restricted funds		 Balance at
1 April
2023
£
25,923
36,826
-
-
-
-
-
37,363
-
-
-
42,666
-
-
142,778		 Income
£
141,658
-
-
6,000
-
5,000
-
46,666
10,529
109,480
-
42,648
26,060
-
388,041		 Expenditure
£
(33,998)
(41,793)
(1,774)
(2,956)
(1,050)
-
(1,296)
(58,600)
(7,606)
(111,552)
(9,097)
(21,804)
(20,420)
(2,828)
(314,774)		 Transfers
£
-
4,967
1,774
1,050
-
1,296
-
-
2,072
9,097
-
-
2,828
23,084		 Balance at
31 March
2024
£
133,583
-
-
3,044
-
5,000
-
25,429
2,923
-
-
63,510
5,640
-
239,129

48

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

15) ANALYSIS OF NET ASSETS BETWEEN FUNDS

CURRENT YEAR

Tangible assets
Current assets
PRIOR YEAR
Tangible assets
Current assets		 Unrestricted
funds
2025
£
56,768
180,508
237,276
Unrestricted
funds
2024
£
68,380
115,619
183,999		 Restricted
fund
2025
£
-
93,780
93,780
Restricted
fund
2024
£
-
239,129
239,129		 Total
funds
2025
£
56,768
274,288
331,056
Total
funds
2024
£
68,380
354,748
423,128

16) RELATED PARTY TRANSACTIONS

There were no disclosable related party transactions during the year (2024: £nil).

49

THE NAZ PROJECT (LONDON) (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

17) Cash generated from operations
Deficit for the year
Adjustments for:
Loss on disposal of tangible assets
Movements in working capital
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Cash generated from operations
18) Analysis of changes in net funds
Depreciation and impairment of tangible fixed assets		 2025
£
(92,072)
121
11,491
(134,487)
(7,646)
(222,593)		 2024
£
(37,497)
-
13,776
46,866
(12,667)
10,478

The charity had no debt during the year.

50