REGISTERED COMPANY NUMBER: 02888488 (England and Wales) REGISTERED CHARifY NUMBER: 1035688 Re ort ol the T￿sleeS and Audited Financial Slalements I the Yeor Ended 31 December 2025 for NEW WAYS MPANY LIMITED BY NEW WAY MPANY LIMITED BY GUARANTEE Contents ol the Finoncial Stalemenls lor the Yeor Ended 31 December 2025 Poge Report ol the Trustees Report ol the Independent Auditors 8 to 10 Slotement of Finonciol Activities Bolance Sheet Cosh Flow Slotement Notes to the Cash Flow 5talemenl Notes lo the Financiol Statements 15 to 28 Detoiled Statement of Finonciol Aclivilies 29 NEW WAYS ARANTEE Re ort ol the Trustees lor the Year Ended 31 Decem r￿5 The trustees who are also directors ol the chority lor the pvrposes ol the Companies Act %06. present their report with the financiol 5tolements ol the charity for the yeor ended 31 December 2025. The linanciol gtotements comply with Ihe Charities Act 2011. the Componies Act 2W6. the Memorandum and Articles ol Association. and Accounting and Reporting by Chorities.. Stotement ol Recommended Proclice applicoble lo charities preparing their accounts in occoidonce with the Financial Reporting Slondard applicable in the UK and Republic ol Irelond IFRS 1021 (effective l January 20191. For the year to 31 December 2025 Ms A Docherty continues to olso serve 0$ the charivs Chief Execulr¢e Officer Ivdunteerl. Page I NEW WAYS A COMPANY LIMITEO BY GUARANTEE Re ort I th Tr stees OBJECTIVES AND ACTNrnES Revlew ol the Year In 2025 New Ways continued lo support projects that are in line with the primary objective ol the charity which is to help communities lo thrive in the four African countries where the charity supports projects IEthiopia. Kenya. Malawi and South Sudan) in conjunction with ils partner organisotion. Our primory oreo ol locus remoins the some. The trend lor the last few years has been a reduction in unrestricted funding although in 2025 we did receive a reosonoble amount thot we were oble to deploy to our nvr59ry progrommes. Our stiotegy Change in 2020 10 employ a gront writer lor both appliing to and reporting back large donors and grant moking organsalions has poid dividends and we hod a very strong 2025. The limited amount ol unresln'cled funding hos impacted the Supp￿ for key projects such os the nursery schools and education programme sUPPOrted in all four countiies. There hos been on increase in support from Grant Making Orgonisotions IGMO'SI. primarily lor water projects. The trustees ore grolelul lor oll the suppc*l proiided by our donors lot oll levelsl enobling the chorify to help those in greotest need and the charity will continue to support the primary areas ol focu5. We see clearty from the information shored by our partner orgonisolion the p0511ive impoct on the locol populolion ond their portrnering with us lo help their lomilie5. ffte mojority ol our projects cos15 be reduced due to contn"bulion5 from the familie5 who are helped by those projects. This year the charity funded projects valued al just over £465.￿). an increase ol over £145.(m when compared to 2024. We are delighted with th￿ bul recognise thot cosh flow meons we hove yeors where we fvnd le55 but hove yeors like 2025 which exceed expectations. Over the last 10 years, have funded projects wlh an average value ol approx. £4m.(KK) per onnum. Ju51 over 70% 01 the funds were dispersed lo projects which represent our long-term ongoing projects Inurseries. education. health ond agricullurel. Funding lor our water projecls lo build the water inlraslnjclure in Turkana (Northern Kenyol. Elhiopia and Malawi represented just over 20% 01 our gronls in 2025 and th￿ continues lo be a priority area. In the current year. New Ways has been able lo fund 24 projects across the four countries. As noled obove, the omount sent to improve the quolity of the lives ol the people in Africa was just over £465.OW. The bulk ol the projects we support continue to be based in Turkanu and they reFxesenled 76% 01 our project funding ol which 28% 01 our expenditwe wos Iocussed on education (riotob￿ girls) and 27% lor Turkona nursery school's programme. This year Ethiopia represented just over 14% 01 project spend, Mthile Malavoi represented 8% and South Sudon 2%. The majorily ol water inlraslruclure programmes in Turkona were supported by the Stotes ol Gueinsey Overseos Development Fund ond 2 other Grant Maknng Organisalion IGMO'S) these 3 organisalions provided alm051 £60.QK)O ol support in 2025. 01 the 24 projects funded. 10 would be deemed small projects. os indmdually they were all less thon £I0.c￿ and together. they lola5ked almost £49,CW11 I%1. In controst wth 2024 this year the chority's income increased by 22% this year reflecting the foct that both project funding and income Iluctuote year by yeor. Restricted funding both from GMOS and key donors continue5 lo be o moior conlponent ol our income - over 80%. We received funding from 8 grant making orgonisotion representing 23% 01 our income lapprox. £l10,(YX)l. Unie5tflCted funding remoins low al 20% a Similar percentage when compored lo 2024 bul signilicanlly down from previous years. We were svccesslul this year in raising restricted funding from GMOS ond major individual benelaclors providing both re51ricled and unrestricted funding. We also rosed just over £74.OCQ Iiom our regulor giving progromme lo significant increose when compared lo 2024 due to the new sponso￿hlp progromme lor Todonyong school). In 2012, we estotjished o relationship with Buyl Givel IBI GI l a US registered charity an administrolion t>ose in Singapore Ihol enables small ond medium zed businesses lo give to charities in an elleclwe monner. This has been a very po%live ond supportive relotionship ond in 2025 we raised almost £37.(X)D through BIGI lor voiiovs projects mostly lor the Nariokolome health Fyoject, bore holes in Turkono ond our ElhioFia nurseries. This is down by 15% from the previous yeor. Page 2 W WAYS ol th Truste for the Year Ended 31 December 2025 Supporting nulritK)nal r)urgery schools ir) 3 African countrpes (Kenya, Ethiopia and South 5udanl continues lo be a key ond impcmtanl port ol our oclivities with the primary aim of feeding children in the age group 2-7 to ensure they grow and develop to reach their lull potential. Equally. as thii is the first rung ol education. we hope thot more children will then go to primary school. In this period. there were three moin areos in Turkono where the schools ore locoted.. these ore Lobvr. Noriokotome. ond Todonyong. In Tvrkono. on overoge. each ol the nursery classes has Xk70 chiklren attending on a regular basis, which means Ihol the project is covering nulrilional ond educational needs ol over 1.300 children. In addition. we contribuled the running costs of the nutritionol nU￿erieS in four oieos ol EthK)pio, as well a5 South Sudan. In this linoncial year, we contributed over £128.(XX) lo the nutritional nursery schools in the three countries with 76% supporting the 21 Turkana nurseries. where funding for two ol them is being provided by GMO'S. Funds sent in this period were lo cover the teachers, salaries. educalk)nal equipment. school uniforms and to provide Ihe children wth two meols o doy whilst ottending the nursery 5-6 days o week. This is very important as o first level education lor children before they move on to primary school. and ensures we reduce inlont mortality ir) the region. In Ethiopia the funding lor Ihe nurseries is predominontly covered by 2 GMO'S. Another key theme continues lo be the Education ryogrommes which include supporh.ng two primary schools. as well as student ond child sporisorship progrommes. Our student sponsorship programme hos been expanded in 2025 Vbilh the support ol a key donor. who has entered into a second long term portner5hip with New Ways oller the first progromme lo support 25 young gid5 WOS 50 5ucce55ful with the majority ol the students engaging in various types ol tertiary education. The second programme will support 50 gitls ol school plus some of the Students from the originol progromme with their lertiory edvcalion. This h05 0 huge positive impact on the locol communities and ensures that fewer girfs are marrying too young and they are leaming skilL% to support their families. Our edvcalion programmes are lo support children ond yovng odvms in primary, secondary and lertiory educotion predominorimy in Tuthono. Northern Kenyo. as well os in Ethiopia. A total ol just over £178.0￿ was senl to the educolional project5 Ir) the period. This included the support for a primory school in Todonyang where the Turkana and Dassonech (from across the border in Ethiopiol live side by side while being educated lo promote peace in the orea, which is a very importont initiative. Thi5 15 supported specifically by o group ol people wishing to support a child's education. This wos olso a new iniliolwe in 2025. In oddition lo the girt's education progromme mentioned previously. the primory school in Noriokotome is supported in partnership with on orgonisation in London and. we hove o key progromme in Ethiopio where the children are svpported by specific individuols. Education is critical in the empowerment ol the next generolK)n and we are seeing the p0511ive outcomes ol this long term commitment. The provision of woler resources ar)d the development of the infras1￿Cture given the dry ond arid r)ature of Turkana ￿ area of crilical importonce lo New Ways and the communitie5 we 5UPPOrt both in Kenya ond the other countries where we operote. As well as being necessory for survival, the availability ol water is very empowering, generally enoble5 more chiklren to ottend school and encourages agriculture endeavours. Water projects have. therefore. been a long-term therne ol the charity. In 2025, we had continued support from Gmo's lapprox. £60.WOI 5UPPOrting woler projects in Turkana. 01 the funds Ironslerred during 2025 (almost £98.WOI. just over l.(K)O was provided by the States ol Guemsey for a water project in Turkana to drill 2 bore holèg ond equip them wth a solar pump. In Turkana we also invested in the water inlrostructure. inclvding the drilling ol a further 2 bore holes. These 2 were partly funded by US registerecl chority. BuylGivel IBIGII. plus a number ol UK GM05 (including being Assisted by o orant from The Peter Slebbings Memorial Charity) and other benefactor5. We have olso drilled bore holes in Molawi ond Ethiopio. Our water projects wll continue lo provide the locol people with a source ol cleon drinking woter. which wll be availab￿ Ihroughoul the year. ensuring thot they ore able lo lake Core of Iheii own personal need5, as well a5 their animals. on which they rely lty nulrition. Having boreholes in a Ilage also ensures more girls go lo school. The villoges set up water commillees lo ensure the bore hole remains operatK)nal. There were o number of infrosllucture programmes including the building ol homes for fomilies affected by albinism in Malawi. the first stage ol building o development cenlre in Nyongotorn orea ol Ethiopia and building a home for the social worker employed in our education programme. All ol these projects were supported by key dornors. Poge 3 NEW WAY MPANY LIMttED BY ARANTEEI Re lor the Year Ended 31 December ￿25 The provision ol primory heollh core services in Turkana is a very important and ongoing aspect of the work ol our partner organisalion as il is nol currently provided by the local govemmenl. We supported three projects with fund5 01 almost £69.OCQ being sent this year lo Turkono ond South Sudon. The primory project is the Noriokotome Health Programme through which we cover the running costs ol medicol old that 15 provided lo the remote villages and outstolions on o regvbr bosi5. New Woy5 provides 2(k30% of the total budget with the rest ol the funds being provided by a European NGO. In 2025 the programme w05 SUPPOrted by GMO'S providing £15.CKKI towards the runr)ing costs. This was in addilionol to Bl Gl wtlch continues to be a signilront contributor to the progromme. An GMO covets and annual c0510l one ol our nurses. There are no doctors in our programmes. The govemment does partner with us lo provide vaccines and retro virol drugs. Malorio remains the biggest issue lor the local people especially in the rainy seoson. In addition. we supported o similor progromme in the Lobur orea ol Turkana. We also funded o project in South Sudan to cover the cost of employing o nurse in their hwlth PTogromme. Thi5 project is supported by o GMO. There are a number ol other projects covered in the financiol information. The adminiqlralive support costs ol the charity were just over £35.OCQ a similar amount to 2024. These ore reloined al such a low level due to the importonl volunteer support the chority has orgonised ond mointoined. Additionully. there are governance costs ol just over £7.(m. Together thege represent olmost 9% of the gross income ol the charity. The majority ol the administrotion costs cover three part-time regources. including o bookkeeper, an individuol who make5 opplicotions to GM05 and an administrator. We oim to ensure that the bulk of the funds we ra15e go to helping the people in the four countries we operate in. We continue lo save funds due lo the very high level ol volunteer support in rvnning the chorify. inclvding the CEO. We olso hove over 20 volunteers in key ach"vities prowding support to the chanty. further reducing cost5 and moxmi5ing the spend on projects. As in previous yeor. in 2025 the mojotity of our projects were monilorod large￿ by the New Ways choir and vre choir who reside in Noriokotome. Tvrkono INorthem Kenyol ond ore the representalives ol our partner on the ground in all four Afri¢on countries where we work. They olso Q¢t os our relotionship monoger wtlh the portner organisalion in all counlries. Almost all ol our projects are managed by members ol the MCSPA, who ore also members ol New Ways. ore well known to all directors. and who live permanenmy in either Turkona (Kenyal. Ethiopia. South Sudan. or Malawi. They ensure that we receive good quality finoncial reports on how Ihe luncling is spent. STRATEGIC REPORT Investment pollcy and obJecMve5 The Chorify holds all ils funds on short-lerm deposit wlh its bankers. Re5erve$ pollcy In the Trustees, view. the reserves should provide the charity with adequate fir￿ncl01 slobilify to meet its nJnning costs lu o minimum ol one yeor ond the means lor it lo meet its charitable objective5 in the short term. The trustees propose to mointoin the chority's reserves ot o minimum level of £50.C(J) and have done 50 having regard lo ils manner ol operation and ol likely funding streams. The Injslees review the amount ol re5erve5 that ore required to ensure fhot they are adequate to fulfil the charivs continuing obligotions os a minimum on an onnual basis ond more regularfy il necessory. Page 4 NEW WAYS A COMPANY LIMITED BY GUARANTEEI Re ort ol the Trustees for the Year En STRATE&C REPORT Future plans Ir) 2026 we celebrole 30 yeors ol funding projects ond in that time New wa￿ has funded olmost £8.2m ol projec15 we are immensely proud ol this ochievemenl. Boord ol Direct￿5 have agreed that our locus ond key themes remain unchanged. working closely with our partner organisotion. Our key projects continue to be the provision of first rung educotion and nulritionol support vio mointenance ol nutrilionol nursery schools in Turtano INorthern Kenyol. Ethiopia, and South Sudon. as well 05 0 ronge ol educotion projects predominantly in Kenyo ond Ethiopio 85pecialW linked lo the sponsorship of children ot the Schools we support. The provision ol heollh care in Turkona remain5 a lon*lerm commitment ol the charity and we wll continue give some suppc*t in South Sudon. New Woys wll continue lo fund community-enabling and sociol services projects sUPPOrted by beneloclor5 and otheT trusts. Infraslruclure wll be o significonl ospecl ol project funding in 2026 with o locus on woler ￿ Turkana and Malowi, predominantly due to the funding programme from a GMO ond individuols. Our long term donor wll continue to support the building ol the Development Centre in Nyangotom. South Wesl Elhiopio. Ultimately, support lor the proiects we would like to fund wll very much depend c>n the lund5 Tai5ed from GMOS and beneloclors. We ore now oble to host our project monogers so Ihey con visit donors to discuss the projects they ore implemenh"ng. We will locus on worknng hord to raise 0$ much as p055ible. All projects are ￿e￿gned lo empower the local people and ensure they have the tools lo thrive. We ore in portnership with the local commvnilies ornd they understond Ihol il is importonl that they also conlribule lo the projects in a small but importonl way. Tre budget lu the linonciol yeor to end December 2026 remains ombilioug ond is ovor £510.CO) bul final funding wil depend on whot can be roised. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng do¢vrnent The charity is controlled by its governing document. a deed ol trust. ond constilvles a limited company. limited by guarantee. as defined by the Componies Act 2006. Organlsaffon The originol members of the comF(Jny were the 17 subs¢￿berS to the memorandum ond orticles of a5s0cialion. The number ol permilled members is Unlimited svbject to the approval ol the Board. The cvrrenl membership stond5 al 25. Annual subscriptions fixed by the board are. unless woived. in lull or part. due from the member5. There is a boord ol directors lor the direction and monogement ol the affairs ol the company which con5iSt5 01 no less thon 5 or more than 12 members. To be eligible for appointment lo the boord o person shall be a member ol the company or a representotive duly outhorised by a corporation whi¢h is o member ol the company. Increases or decreases in the number of boord members is subject lo o general meeh.ng of the company. The board currently meet on o auarterty basis and require o hyo-thirds majority voting on all key issues with the exception of those specified irf the orhcles which weie approved in September 2015 ond registered in October 2015 with the Charity Commission ond Companies House. The chorify has a registered oftice and most volunteer5 and slall work from home. Several ol the Voluntee￿ take re¥)onsibility lor running dillerent oreas of the ￿ganisation. New Ways sends out a newsletter to members and supporters two or three times a year. Rlsk managèmènt Whi15t risk assessment can limit risk. il does not eliminale risk. The Trustees hove ossessed the major risks lo which the charity is exposed. in porticulor Ih05e iekyted to the operolion ond linonces of the charity and ore sotilfied that the systems in place to mitigate exposure to these risks are operating eflicienty. REFERENCE AND ADMINISTRATIVE DETAILS Reg151eTed Company nvmber 02888488 (Englond and Wales) Page S NEW WAYS MPANY ARANTEE rt ol the Tfuslees for the Year Ended 31 Dec er 2025 Reglslered Chathy number 1035688 Reglstered offlc• 47 Cumberland Street London SWIV4LY TNstèe$ F h4orgain Ms Angela Dochety S Gorner W co￿0￿ Ms L J￿￿ Choirpemn Ms S Wamalwo C J Broclley lappoinled 17.9.251 5 L Jillo is the choirperson. Company Secrètory S Gomer Avdltrors WDM Registered Auditors Chartered Accountonts 378 Brandon Street Motherwell MLI IXA Sollclt<>rs Solicitors.. Bales Wells BroiMwoil&, Charity & Sociol Enterprise Department. 10 Queen Street Place, London. EC4R IBE. Bankers Bankers.. Nalwesl. Cify ol London, PO Box 11258, 1 PriT)ces Streel. London. EC2R 8BP. STATEMENT OF TRUSTEES. RESPONSIBIUTIES The Iiustees Iwho ole o15Q the direc*or5 01 New Ways la company limited by guaronteel lor Ihe purposes of compony lowl ore responsible for preparing the Report ol the Trustees ond the finonciol stotements in occoidonce with applicable th and United Kingdom Accounting Stondords (United Kingdom Ger)eral Accepted Accounting Proclicel. Poge 6 WWAY IMIT MPANY ARAN Re ort ol the T stees lorlhe Year Ended 31 December 2025 STATEMENT OF TRUSTEES. RESPONSIBIUTIES . conllnued Company law requires the Iruslees to prepare financial slolemenls for eoch finonciol yeor. Under that law. the Iruslees have elected lo prepare the linonciol stolemenls in occordonce wth United Kingdom Generally Accepted Accounting Proctice (United Kingdom Accounting Stondords ond opplicoble kywl. Under company the Iruslees must not approve the financial statements unless they are satisfied that Ihey gwe o true ond loir view of the stote ol olloir5 of tre choritoble compony and ol the incoming resource5 and application ol resources. including the income and expendilure. ol the charitable company l(Y that period. In preparing those financial stolemenls. the Iruslees are required lo select suitable accounting poI￿leS and then appty them consistently: observe the methods ond principles in Ihe Chorilies SORP., make judgement5 and esh"motes thol are reosonable and prudent.. slate whether opplic01￿e occounting stondords have been followed. subjecl to any material departures disclosecl ond exploined in the finoncnl stotements., prepare the financial statements on the going concem bosis unless it is inappropriale to Kyesume that the charitable company wll continue in business. The tnjslees are responsible I￿ keeping proper occounting records which disck)5e wtlh reasonable accuracy at ony time the financial position ol the charitable company and lo enoble them lo ensure that the financial statements comply with the Componies Act 2(K)6. They ore olso responsible for salegvurding the assets ol the charitable company and hence for laking reasonable steps lor the prevention and detection ol fraud ond other egularities. In so far os the Iruslees are aware.. there is no relevont oudil inlomotion ol which Ihe charitable company's auditors are unaware.. and the trustees have taken all steps Ihol they ought lo hove token to moke themselves aware ol any re￿vant audit information ond to estoblsh that the auditors are aware of that inlomiation. AUDITORS The audi10￿. WDM. will be proposed for re-appointment ot the forthcoming Board Meeting. Report of the tTU5tees, Incorporating a 51ralegic report. approved by order of the bo(rd ol InJ51ee5, as the company directors. on 30 July 2Y26 and signed on the board's beholl by.. Ms Angela Oochety- Trustee Poge 7 ort of the Ir)de endenl Auditor5 to th New Wo imited b om uorontèe Opinion We hove oudited the linancial stotements of New Woys la compony limited by guaronleel (the 'choritatJe company'l for the year ended 31 December 2025 which comprise the Statement ol Fir)ancial Activities. the Balance Sheet. the Cash Flow Slalemenl ond notes lo the finonciol slolemenls. including a summary ol significant occovnting policies. The finonciol rep(Kling fromework that has been applied in their preporolion is opplicable law and United Kingdom AccountirvJ Stondoids (United Kingdom Generolly Accepted A¢¢ovnting Procticel. In ow opinion the financial statements.. give o true ond loir view ol the stole ol the choritoble compony's affoirs as a131 December 2025 ond of ils incoming resources and application ol resoLKces, including its income and expenditure. lor the year then ended., have been property prepared in occordonce wth United Kingdom GenerolW Accepled Accounh"ng Practice.. and have been prepored in accordance with Ihe requiremenls ol Ihe Componies Acl 2006. Bas15 for oplnlon We cornducled our oudil in occordanc& wth Inlemational Standards on Auditing IUKI 115As IUKII ar￿ appliCa￿e low. Our responsibilities under Ih05e standards are further described in the Auditors. responsibilities lor the oudil ol the financial slolements section ol our report. We ore indepenclenl ol the charitoble comporny in occordonce wlh the ethicol requirement5 thot are relevant to our aLidit ol the finonciol statements in the UK, including the FRC'S Elhicol Stondord. ond we hove ￿lfilled our other ethi¢tsl re5ponsiblilies in occordance with these requirements. We believe thot the oudit evidence we hove obtoiried is sufficient ond oppropriote lo provide a ba￿5 for our opinion. Conclvslons rela15ng lo gokng concem sn oudiling the lirionciol slolements. we hove concluded that the Iruslees, use of the going concem basis ol occounting in the preporolion ol the finonciol statements is oppropriate. B05Èd on thè WOTk w8 havè perfomed. we hove not idènhliÈd any maletial uncertointies relating to events or conditions that, Individual￿ or colleclively, may cast Significant doubt on the choriloble compony's obility to continue as a going concern lu o period ol ol least ￿e1ve months from when the financial statemenls are authorised lor issue. Our respon%bilities and the responsibifities ol the trustees wlh respect lo going concern are described in the relevont sections ol this report. Olher Infr>rm(thon The trustees ore responsible lor the other inlormolion. The other information comprises the informotion included in Ihe Annual Report. other than the financial statements and our Report ol the Independent Audito￿ Ihereon. Ovr opinion on the finonciol slalemenls does not cover the other inlormotior) and, except lo the extent otherwise explicitly 5toted in our report. we do not express any lom ol ossurance conclusion thereon. In conneclK)n with our audit ol the financ￿1 statements, our responsibility is to read the other information and. in doing $0. consider whether the olher inlormolion ￿ materially inconsistenl wlh the finonciol statements or our knowledge obtained in the audit or othepwise appeors to be moteriolly misstated. 11 we identify such material inconsistencies or opporenl molerial misslolements. we are required to delerrnine whether this gives rise to o motenol mi55totemenl in the linonciol stotements themselves. 11. based on the work we hav8 p8rformed, we conclude that there is o moteriol misslotement ol this other information, we are required lo report that fact. We have nothing to report in thi5 regord. Oplnlons on olher mutters prescrfbed by Ihe Componles Act 2006 In our opinion, based on the work undertaken in the course of the oudil.. the information given in the Report ol the Trustees lor the financial year for whrh the finonciol slalemenls (Ye prepared is consistent with the finonciol stotements.. ond the Report ol the Trustees has been prepored in occord¢nce wth applicable legal requirements. Page 8 Re ort ol the Inde endent Auditors to the bAembers ol Al nt Matters on wNch we are requtred to report by excepllon In the light ol the knowledge and understanding ol the charilable company and its environment obtained in the course ol the ovdit. we have not idenlified moleriol misslotements in the Report ol the Trustees. We have nolhing to report in respect ol the lollowng motters where the Companie5 Act 2(X)6 requires us lo report lo you il, in our opinion.. adequate accounting rec￿d$ have not been kept or relums adequate ICY our avdit have not been received from bronches not visited by us.. or the financial statements are not in agreement Mqth the accounting records and returns,. or certain disclosures ol Iruslees, remunerolDn specified by low are not made.. or we have not ie¢eived oll the inlormotion ond expbnolions we require for our oudit. Respofislbllllles otlrv$tees As explained more lully in the Statement of TTUStees' Responsibilities, the trustees (who are also the directors of the Ch¢￿to￿le compony lor the purposes ol company lowl ore responsib￿ lor the preporotiDn ol the finonciol statement5 and lor being sa115fied Ihal they give a tnje and fair view, ond lor such inlemal control as the Iruslees determine is necessory lo enable the preparation of financial slalemenls that are free from moleriol misslotemenl, whether due to fraud or error. In preporing the finonciol stolements. Ihe trLStees ore responslble lor ossessing the choritoble company's atility to continue a5 a going concem. d￿Ck)sing. as applicoble. motters reloted lo going concern and using the going concern bosis ol occounling ￿n￿sS the Iruslees either intend to I'quidote the choriloble company or lo cease operatK)ns. or have no realistic alternative bul lo do so. Ovr re5pon5ibililies for Ihe avdil of Ihe financial statements Our objectives are to obtain reosonable 055uronce about whether the financial 51atements as a Who￿ are free from material misslatement. whether due to fraud or e￿Or, and to Issue a Report ol the Independent Auditors thot include5 our opinion. Reasonable assurance is a high level ol assurance. bul ￿ not a guarontee thot an ovdit conducted in accordonce with ISAS IUKI will always delecl a moleriol mBstotemenl when it exists. M￿tateMents con orise trom fraud OT error and are considered moteriol if, inclividually cy in the aggregate. they could reasonably be expected lo influence the economic decisions ol users token on the basis ol these financial stotements. The extent to which our procedures are capatJe ol detecting I￿egUlaritieS, including fraud is detailed below.. We obtained an Understanding of the legol ond regulatory fromewor￿ that are opplicable to New Ways and determined that Ihe most sigr)iftanl are.. - Those that re4ote to the form ond content ol the finonciol stotements, such 0$ the charity 50RP,' - Those thot rdote to the ITonsleT ol lun¢Js to foreign countrie5 We under51ood how New Ways Li complying with those frameworks by observing the oversight ol those chorged with governance. the culture ol honesty ond elhicol behoviour and Ihe emphosis placed on fraud wevention which moy reduce opportunities lor froud to toke ploce. Wa asse￿ad the Su￿8￿￿b￿1fy of the finoncial stotements to moteriol rrigstotement, inclucfsng how fraud might occvr by making an os5e55ment ol the key Irovd risks to New Woys and the monner in which such risks may monilest thèmselves in pro¢ti¢e, bosed on our previou5 knowledge of New Woys 05 well as an assessment ol the current environment. Bosed on this underslonding. we de&gned our audit proceclures lo identify nonle Gains Act 1992 lo the extent that such income or gain5 are applied to exclusively charitable purposes. Reslrlcled ond deslgnoled funds Funds reslricled by the donor are Ireoled as restricted ￿rnds. All other Teceip15 are unrestricted funds however the chorify has designoted port ol these funds lor specific purposes. The oim and use ol eoch de5ignoted fund 15 detoiled in the notes to the financial statements. General Ivnds ore unrestricted funds which are ovoilable lor use ot the discretion ol Ihe Trustees in furtheronce of the general objectivify'g of the chority and which hove not been designoted lor other puip05es. Poge 15 conlinved... NEW WAY COMPANY UMITED BY AN Note5 lo the Financial Slotem nts- onlinued for the Yeor Ended 31 December 2025 ACCOUNnNG POUCIES - conllnved Debtor5 Debtors are recognised ot the sett￿Ment amount due after ony discount offered. Cash ol bank and In hand Cash ot bonk ond cash in hand inclvdes cosh and Short tem highly ￿quid investments with a short moturity ol Ikyee month5 or less from the dote ol acquisition or operning of the dep05il or similar account. Crèdltor5 Creditors are recognised where the charity has a present obligation resuyring from a past event Ihot VAII probably result in the Ironsler ol lund5 to a third porty ond the amount due to sellle the obligation can be measvred of eslimaled reliobly. credito￿ ore n(￿allY recognised at their settlement amount after allowing lor ony discounts due. DONATIONS AND LEGACIES 31.12.25 31.12.24 Donations Gilt old Gronts Subscriptions Sponsored Evenl Income 346,647 25.412 110,056 io 64 259.467 38,235 94,098 10 95 482,183 391.905 Gronts received, included in the above. ore 0$ follows.. 31.12.25 31.12.24 Narikolome Heolth Project Eorth Pon Dom Turkana Bore Hole Molow 8ore Hole Ethiopia N￿￿erieS South Sudan Health Programrre Lobur Nurserie5 Todonyang NLKseries 26,020 50.785 6.9 58217 10,000 27.609 940 8,S06 3,925 7.864 110.056 94,098 Page 16 continued... NEW WAYS MPANY LIMITED BY ARANTEEI N t t the￿rnan lol Slotemen ontin lor the Year Ended 31 December 2025 ed INVESTMENT INCOME 31.12.25 31.12.24 Deposit account interest 2,524 3.810 RAISING FUNDS Ralslng don¢thons and legacl•s 31.12.25 31.12.24 Fundroi%ing costs- events 414 CHARITABLE ACTIVITIES COSTS Gronl funding of activities (see note 61 Support costs (see nole 71 Totols Grants Payable Support costs Governance Costs 4165.304 465,304 35.591 7,050 35,591 7.050 465,304 42.641 507.945 GRANTS PAYABLE 31.12.25 31.12.24 Grants Payable 465,304 319.103 Page 17 continued... NEW WAYS TED MP NY UAR nt for the Year Ended 31 December 2025 GRANTS PAYABLE- conrfnued The lolal grants paid lo institutions during the year was a5 Idlows.. 31.12.25 31.12.24 Filhing Boot Lobur Secondary School Sponsorship Todonyong Nurseries ElhioFia Nurseries Turkano Earth Pan Dam Noriokotome Heolth Project Lobur Nurseries Empowerment & Education Nariokotome Nurse[￿$ Malow Bore Hole Furrows in the desert Todonyong Primw & Secondary School Tu￿ana Girls Educolion Turkano Emergency Project MalovA Solor Lomps Ethiopia Educotion Turkana Bore Hde Lobur Mobile Clinic South SLJdan Nursery Lobvr Prirnory School Sponsorship Nyangatom Development Centre Malow Education Noriokolome Primory School South Sudon Nursery Kenya Tertiary Education binisrr Project in Molowi Turkana Women's Empowerment South Sudan Heollh Progromme Noriokotome Secondory S¢hotsl Research Centre Water & Sanilolion project 3.470 35,225 24,800 18.3(K) 29.998 51,6(M) 20,9(0 10.7CKI 57,lJOO 19,700 42,6 6,776 42.9 14,860 39,850 2.834 3.177 3.570 2.134 44.450 14,038 81,217 3,500 16,5 16,360 32.0 9.966 24.575 8.078 12,0(L) 5.5(0 i.s(x) 2.469 io,000 465.304 319,403 Page 18 continued... NEW WAYS A COMPANY LIMITED BY GUARANTEEI Notes to the Financial Slalemenls- contin rEn SUPPORT COSTS Goveman¢e ost5 Monogement nonce Tota15 Support costs Govemonce Costs 33.224 1347 35,591 7.050 7.050 2.367 7.050 42,641 Support costs, included in the above. ore os lollow3'. 31.12.25 Total ach"vities 31.12.24 Tolol activities Support costs Governance Costs Web Sile maintenance Consulloncy Costs Telephone Posloge ond stationery Administration Trovel Costs Subscriplions Bonk charges Foreign GoinlLoss Audilors, remunerotion Accountancy 1.543 20.475 190 427 9.750 506 19,575 20,47S 190 427 9,750 10,034 416 839 2,469 (102) 839 2.469 (102) 3.732 3.318 2,577 3.732 3.318 3,360 3,198 35.591 7.050 42.641 41,303 NEf INCOMEI{EXPENDITURE} Nel incomellexpenditurel is stoled ofler charging/lcr&ditingl: 31.12.25 31.12.24 Auditors. remuneration 3.732 3.360 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remunerotion or other benefits for the yeor ended 31 December 2025 nor lor the year ended 31 December 2024. Page 19 continued... NEW WAYS A COMPANY LIMttED BY GUARANTEE Notes to the Financial Statements- continued nded 31 D8cember 2025 TRUSTEES. REMUNERATION AND BENEFITS - conllnued TnJslees' expen5e5 Trovelling expense5 lotaling £0 12024 £4161 covered the tnjslees.. to cory out due diligence on the projects. 10. STAFF COSTS The overoge number of employees in the year Li 012024- 01. COMPARATIVES FOR THE STATEMENT OF FINANCIAI ACTIVlnES Unrestricted fund5 Restricted funds Totol funds INCOME AND ENDOWMENTS FROM Donotion5 and legocies 82.031 309.874 391.905 Investment income 3.810 3.810 Total 85,841 309,874 395.715 EXPENDmiRE ON Roising lund5 414 414 ch{￿1￿bIe actlvllle5 Grants Poyable Support costs Governance Cos15 37.466 34.452 6.558 281.937 293 319.403 34.745 6.5 Total 78,476 282.644 361.120 NET INCOME 7.365 27.230 34.595 RECONCIUAIION OF FUNDS Total Ivnds brought lorword 148,145 163,142 311,287 TOTAL FLINDS CARRIED FORWARD 155.510 190.372 345.882 The above inlornah.on relales lo 21Y24. Page 20 continued... NEW WAYS A COMPANY LIMITED BY GUARANTEEI Notes to the Financial Slalements- contin for the Yeor E 12. TANGIBLE FIXED ASSErs Fixtures ond fittings C05T Al l January 2025 and 31 December 2025 1.919 DEPRECIATION At l January 2025 and 31 December ￿25 1,919 NET bOOK VALUE At 31 December 2tr25 At 31 Decomber 2024 13. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Income Tax Recoverable Accrued Income 44,385 2,975 21.471 4.695 47,360 26.166 14. CREDITORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.12.25 31.12.24 Accrved expenses 8.531 8.924 Poge 21 continued... NEW WAYS MPANY LIMITED BY Notes th Finonciol Slolemenls- continu8 lor the Yeor Ended 31 D ember 2025 15. MOVEMENT IN FUNDS Nel movement in funds Al 31.12.25 Al 1.1.25 Unresfvlcled lunds Generol fund 155,$08 {2.682} 152,826 Restrlcled Ivnds Lobur Secondory School SpOnso￿hlp Ethiopio Educoh"on Nariokotome Health Project Lobur Nvrseries Empowerment Todonyong NU￿erieS Nariokotome Nvrseries Futrow5 in the desert Todonyong Primory & Secondary School Turkono Girls Edvcotnn Malaw Solar Lamps Lobur Mobile Clinic Malawi Bore Hole Monogement Centre Nyangatom South Ethiopia Tufftana Borehole Ethiopia Nurseries Lobvr Primory School Spony)r5hip Nariokotome Primory School Malow Edvcolion Kenya Tertiary Education Gids Edv¢otion Burkina Faso Turkono Nurseries South Sudan Health Progromme Mala￿￿ Infrastructure (537) 13.194) (1.401) (1,188) (279) (12.377) 5,694 (63) 13,397 (1961 227 {s,cMJoI {675} 1.769 10,613 10,175 894 13,807 11.576 2,082 279 15.327 17,638 2.088 2,216 1.764 2,950 23,332 2.02S 15.613 1,568 227 675 47.531 21.988 (16,500} [5.064) 3.890 (3.082) 2,606 1.764 872 31.037 14,924 12.348 120 26.124 I,B58 6.552 3,202 23,318 94 5.680 3.119 38 (38) 163 103 190,374 (20.556) 169,818 TOTAL FUNDS 345.882 (23.238) 322,644 Page 22 continued... MPANY LIMITED BY ARANTEEI for the Year Ended 31 December 2025 15. MOVEMENT IN FUNDS - ¢onHnved Nel movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unresmcled fvnds Gerieral fund 96,119 (98.801) (2.682) Reslrfcled funds Lobur Secondary School Sponsorship Ethiopia Educotion Nariokolome Health Project Lobur Nurseries Turkana Emergency Prqect Empowerment Todonyang Nvr5eries Noriokotome Nurseries Furro￿ in the desert Todonyang Primary & Secondary School Turkona G4rf5 Education Molomq Solar Lamps Lobur Mobile Clinic Malow Bore Holè Manogement Centre Nyongotom 5ovth Elhiopio Turkana Borehde Ethiopio Nurseries Lobur Primory School Sponsorship Noriokotome Prirnory School Malawi Educalion Kenya Tertiary Education Tu￿ana Nurseries Albinism Project in Mola South Sudan Health Progromme MalovA Infrastructure 2,857 10.844 55,595 {3,394} (14,0381 156,9961 (10,5881 (32ixi) (537) 13.194) 11.401) {1.l88) 3,21)0 (279) 10.001 48.294 4,025 28.193 33,068 27 {279) 112.377) 5.694 {63) 13.397 (196) 227 {S.CM)O) (6751 {22,378) {42,600) (4,088) (14,796) (33.264) (400) (7.000) (4.063) (16.SOO) {81.217) (24.800) 13.500) (31.999) 19.247) 18.078) (16.5001 (S,0641 3,890 (3.0821 2,806 1,764 8n 225 76,153 28,690 418 34,805 8,950 22S 12,000 4,960 163 (12,(M)O) {4.998} 138) 163 388,588 (409,144} (20.556) TOTAL FUNDS 484,707 1507,9451 123.238) Page 23 continued... NEW WAY MPANY UIAITED BY ARANTEE N t t th Fin nt ntin lor the Year Ended 31 December 20 15. MOVEMENT IN FUNDS- conllnved Comp¢x¢thves for movement In funds Nel movement in funds At 31.12.24 Ati.1.24 Unrestrlcted fvnd5 Generol fund 148,145 7,363 155. ReslrScted fiJnd$ Lobvr Secondory School Sponsorship Elhiopia Education Nariokolome Heollh Project Lobur Nurseries Empowerment Todonyong Nutseries Nariokotome Nurseries Furrows in the desert Todonyang Primary & Secondary School Turkana Girb Education Malawi Solar Lamp5 Lobur Mobile Clinic Molow 8ore Hole Manogement Centre Nyangotom South Ethiopio Turkona Borehole Elhiopio Nurseries Lobur Primory Schod Sponso￿hlp Noriokolome Primary SchcKA Molovyi Edvcotion Kenya Tertiary Education Girf5 Education Burkino Foso Turkano Nurserie5 Molaw Agriculture Albinism Project in Mola Soulh Sudon Health Progromme Nariokolome Secondary School Research Centre 1.679 627 13,807 224 2.306 13,807 11.576 2,082 279 1 5.327 17.638 11.352 1,235 360 2,256 21,066 13.071 13,4281 44 2,172 1,764 11.6641 2,216 1,764 1,664 675 675 47.5CO 25.449 1,745 2.276 28,767 31 13.4611 6,713 926 15.4491 94 47.531 21.988 8,458 3.202 23.318 94 5.680 3.438 38 38 3.OCX) 872 2,5QY) 3.119 1381 1381 12.9621 18721 12.5WI 163.142 27.232 190.374 TOTAL FUNDS 311.287 34.595 345,882 Poge 24 continued... NEW WAYS MPANY L IT ARANTEE nts- nlin for the Year Ended 31 December 2025 15. MOVEMENT IN FUNDS . contlnved Comporotive nel movemenl in ftjndg. included in the obove ore 0$ follows.. Incomiw resources Resources expended Movement in funds Unre5trfcted fvnd5 General fund 85.841 178.4781 7,363 Resmcled funds Lobur Secondary School Sponsorship Ethiopio Educotion Turkana Earth Pan Dam Nariokolome Heolth Project Lobur Nurseries Empowement T¢xlonyong Nutseries Noriokotome Nu￿er1e$ Fwrows in the desert TcKlonyang Primay & Secondary School T￿￿on0 Girls Edvcotion Ma1owi Solar Lamps Lobur Mobile Clinic Management Centre Nyangatom South Ethiopio Turkono Borehole Ethiopia Nurseries Lobur Primary School Sponsorship Noriokolome Primary School Malaw Education Fishing Boots Kenya Tertiary Educotion Tvrkono NurserEs Malowi Agricullure Albinism Projecl in Mal(Iwi South Sudon Heolth Progromme Turkona Women's Empowerment Nariokotome Secondary School Reseorch Centre 4.432 15.941 50.785 21,128 2,200 419 31.371 39,532 4.088 3.900 4,941 961 13,8051 12.1341 50.7851 120.9041 11,3531 15001 118.3001 142,9601 14.0001 11.7281 13,1771 12.6251 15,LXJOI 627 13.807 224 13.071 13.4281 88 2,172 1.764 11,6641 31 40.989 36.711 3,926 19.127 2,107 3,470 11,180 95 1381 1381 1.038 31 13.4611 6.713 926 15,4491 94 144.4501 129.9981 13,WOI 124.5761 12.0131 13.4701 15.5001 14141 5.680 1381 1381 12.9621 14.lJOOI 14.0001 11,4811 12,4691 609 18721 12.5001 309.874 12826421 27.232 TOTAL FUNDS 395,715 1361.1201 34.595 Page 25 continued... NEW WAYS A COMPANY LIMITED BY GUARANTEE t g t the Finan t temenls- continued 15. MOVEMENT IN FUNDS- ¢onNnved A current year 12 months and prior year 12 months combined position is os follows.. Nel movement in funds Al 31.12.25 Al 1.1.24 Unreslrlcted lunds Generol Ivnd 148,145 4,681 152,826 Restrlcled lunds Lobtyr Secondory School Sponsorship Ethiopia Education Nariokolome Health Project Lobur Nurseries Empowerment Todonyang Nurseries Nariokolome Nurseries Furrows in the desert Todonyong Primary & Secondary School Turkana Gids Education Malowi Solor Lamps Lobur Mobile Clinic Malawi Bore Hole Management Centre Nyangatom South Ethiopio Turkono Borehole Ethiopia Nurseries Lobur Primory School Sponsorship Nariokolome Primary School Molowi Educotion Kenya Tertiary Educotion Girf5 Education Burkino Foso Tutkono Nur5erie5 Malawi Agriculture Albinism Project in Malowi South Sudan Health Programme Nariokotome Secondary School Reseorch Centre Malow Infrastwcture 1.679 1.769 10.613 10.175 894 10.613 11.352 1.235 360 2.256 21,066 ZOCK) 44 13601 694 2,266 25 15.569 1,568 11.4371 13.OWI 16751 2.950 23.332 2.025 15.613 1.568 227 1.664 5.OQK) 675 47.5(J) 25.449 1,745 2276 28.767 116,4691 18.5251 10.603 12.1561 12.6431 1.858 6.552 31,031 16.924 12.348 26.124 1.858 6.552 3.438 38 38 1941 1381 1381 13.0(K)I 18721 12.5(K)I 3.344 3.0 87? 2,5 163.142 6.676 169.818 TOTAL FUNDS 311.287 11.357 322.644 Poge 26 continued... NEW WAYS A COMPANY LIMITED BY GUARANTEE for the Year Ended 31 December 2025 15. MOVEMENT IN FUNDS . conllnved A current year 12 months and prior yeor 12 months combined net movement in funds, incknded in the above are os follows-. Incoming resources Resources expended Movement in funds Unresfrlcted Ivnd5 Generol fund 181.960 1177,2791 4,681 Reslrlcted funds Lobur Secondory School Sponsorship Elhiopio Education Turkana Earth Pan Dam Nariokotome Health Project Lobur Nurseries Turkana Emergency Project Empowerment Todonyang Nurseries Noriokotome Nurseries FLYfow5 in the desert Todonyong Primary & Secondary Scho Turkano Gir￿ Educaliors Mal(Jw Solar Lamps Lobur Mobile Clinic Molawi Bore Hole Monogement Centre Nyangolom South Ethiopia Tu￿0￿0 Borehole Ethiopia Nurseries Lobur Primary School Sponsorship Noriokolome Primary School Malow Educolion Fishing Boots Kenya Tertiary Education Turkona Nurseries Molow Agriculture Albinism Project in Molawi South Sudan Health Programme Turkana Women's Empowenment Noriokotome Secondary School Research Centre Molaw Inlroslruclure 7.289 26.78S 50,785 76,723 11,600 17.1991 116.1721 150.7851 177,9WI 90 10,613 13,2CK>l 15001 140.6781 85.5601 18.0881 116.5241 136,4411 13.0251 112.WOI 14.0631 13601 694 2,266 25 15.569 1.568 11.4371 13.0001 16751 41,372 87.826 8.113 32.093 38,(K)9 1,588 3,388 31 117.142 65,401 4,344 53,932 116,5001 1125.6671 154,7981 16.5001 156,5751 111.2601 13.4701 113,5781 14141 116.4691 18,5251 10,603 12.1 S61 12.6431 1,858 3.470 20.130 320 1381 11.962 5.998 6.552 1941 1381 1381 13.CKJOI 112,OQKII 18,9981 14.OODI 609 18721 12.5001 163 12,4691 163 698.462 1691,7861 6.676 TOTAL FUNDS 880.422 1869.0651 11.357 Page 27 continued... NEW WAYS A COMPANY LIMrrED BY GUARANTEE Notes to the Financiol Slalemenls- continued for the Year nded 16. RELATED PARTY DISCLOSURES EX)ring the year lo 31st December 2025. the chorify received £14.408 from The Hoydon Kirkwood Charilable Trust. o chori10b￿ trust run by fami￿ members ol trustee Angela Dochety. These were grants given ot orm's length in order to fund the chority's oclivilies ond are relSecled within the restricted funds lor the Malawi Bore Hole. South Sudan Health Programme, ond Nariokotome Health Pioject as oppropnote. Page 28 WWA Detoiled Stotement ol Finoncial Activitie5 lor the Year Ended 310ecember 202 31.12.25 31.12.24 INCOME AND ENDOWMENTS Donatlons ond1•gacles Donotions Gift aid Gronts Sub5criplions Sponsored Event Income 346,641 25,412 110.056 10 59.467 38.235 94,098 10 95 482.183 391.905 Inveslment Incomè Deposit account intere51 2.524 3,810 Total Incemlng resovr¢e$ 484,707 395,715 EXPENDITURE Ra151ng donallons and legacles Fundroising costs- event5 414 ChartPable acllvlmes Grants lo inslilulions 465,304 319.403 Support ¢osts Management Web Sile maintenance Consultancy Costs Telephone Postoge ond stationery Adminislralion Travel Costs Subscriptions 506 19.575 224 481 10.034 416 20.475 190 427 9,750 839 33.224 32.136 Flnon¢e Bank charges Foreign Goin/Loss 2,469 (102) 2.577 32 2,367 2.609 Govemance costs Auditors, remuneration Accountancy 3.732 3.318 3,360 3.198 7.050 6,558 Total resources expended 507,945 361.120 Nét (exptndlturelnncome (23238) 34.595 This page does not form part ol the statutory linanciol statements Page 29