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← St. Michael's Fellowship

2025-03-31-accounts

Report and Financial Statements

Year ended 31 March 2025

Company Registration Number 02914273 (England and Wales) Charity Number: 1035820

Contents

Reports
Reference and administrative information 1
Trustees 3
report 16
Financial statements
Statement of financial activities 21
Balance sheet 22
Statement of cash flows 23
Principal accounting policies 24
Notes to the financial statements 28

Reference and administrative details of the company and its advisors

Trustees Sally Prentice (Chair, resigned 6 November 2025) Jonathan Bannister (Deputy Chair from 20 February 2025, Chair from 7 November 2025) Oretha Wofford (Deputy Chair, resigned 19 February 2025) Samantha da Soller (Treasurer, appointed 15 July 2024) Sean Cranitch (appointed 10 March 2025) Yasmin Garcia-Sterling Jasmine Kaur Assi Candice Levy (appointed 10 March 2025) Juline Sinclair Maria Takaendisa (appointed 9 June 2025) Shantel Thomas (appointed 9 June 2025) Valerie Wass OBE (resigned 31 December 2024) Regina Zyrek (appointed 9 June 2025) Director Sue Pettigrew OBE (resigned 25 April 2025) Chief Executive Oretha Wofford (appointed 31 March 2025) Registered office 136 Streatham High Road London SW16 1BW Registered number 02914273 (England and Wales) Charity number 1035820 Auditor Buzzacott Audit LLP 130 Wood Street London EC2V 6DL

1

Reference and administrative details of the company and its advisors

Bankers National Westminster Bank Plc 145 Clapham High Street Clapham London S4 7TH

COIF Charity Funds 80 Cheapside London EC2V 6DZ Virgin Money Plc Jubilee House, Gosforth Newcastle on Tyne NE3 4PL

Solicitors The Charity Team at Russell-Cooke 2 Putney Hill London SW15 6AB

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Trustees 31 March 2025

The Trustees, who are the directors for the purposes of company law, present their statutory report together with the audited financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out on pages 24 to 27 Articles of Association, applicable laws and the requirements of 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).

OBJECTIVES AND ACTIVITIES

Working together to keep families together -being

and development

Purposes and aims

y, sickness and emotional and physical hardship by the provision of accommodation, assistance and support, counselling, training and rehabilitation for children and their parents, whether in accommodation provided by the charity or in the wider community, who are in need of such relief so that they may become

The prime aim of the charity is to give a child the best possible start in life by working with parents to develop their parenting skills. Allied to this is the aim to help and encourage the members of a family to become fully integrated into the mainstream of society.

The principal activity of the charity is offering support to vulnerable families including very young parents through residential family assessment centres and working in the community.

St Michael's provides accommodation, help and training in residential family assessment centres in the boroughs of Lambeth and Wandsworth, for families where children are at risk or where there is other emotional, mental or physical hardship. Such support includes an assessment of parenting skills. Each centre is a converted Victorian family house, non-institutional in feel, staffed by a professional team. We also offer follow-up support to families when they leave the centre through our Securing Change programme, regardless of whether the parents leave with their child or children.

Through partnerships with children's centres and further charitable funding, St Michael's offers a number of Community projects. These provide some of the same services to mums and dads and their children who are living in their own homes, but who, for whatever reason, are in difficulty.

, Jigsaw, which helps separated children and their parents build a stronger and healthier relationship.

on public benefit when reviewing our aims and objectives and in planning future activities and are satisfied that we meet the guidance.

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31 March 2025

Trustees

OBJECTIVES AND ACTIVITIES (continued)

The 2024-25 financial year has been another busy one for the whole staff team and the Board of Trustees.

Last year, Sue Pettigrew announced her plans to retire as Director after 35 years in post, and over retired in April 2025 and in recognition of her immense contribution and leadership, the trustees agreed to make Sue a patron for St

The major focus for Trustees during the year has been the recruitment of a new Chief Executive. The preparation for this was intensive, and involved all members of the Board in a thorough recruitment process. The trustees are delighted to confirm the appointment of Oretha Wofford to the post with effect from 31 March 2025.

Strategic plan and objectives

The Trustees reviewed and updated the strategic plan in March 2024 for the next year, pending the appointment of the new Chief Executive. The strategic priorities are continued focus on:

Maintaining the quality of our residential assessments

Widening and embedding our outreach and community services

In 2024-2025 our key objectives were:

  1. Recruitment and induction of a new Chief Executive following the retirement of the longstanding director

  2. Reviewing the scope and reach of outreach and community services to ensure they continue to meet the changing needs of beneficiaries

  3. e service

  4. Recruitment to the Board of Trustees to replace trustees who have completed their terms of office, and to further strengthen diversity and skills

Our key objectives for 2025-26 are:

  1. Introducing a new standardised recording and reporting framework, across all services

  2. Further review of the structure and reach of community services to ensure they continue to meet the changing needs of beneficiaries

  3. Investing in training and development to increase capacity.

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31 March 2025

Trustees

ACHIEVEMENTS AND PERFORMANCE

1. Recruitment and induction of new Chief Executive

We are pleased to announce the recruitment of Oretha Wofford as our new Chief Executive with effect from 31 March 2025. practitioner and service transformation leader. Oretha brings a deep commitment to child safeguarding, family-led interventions and antioppressive practice.

progressive, relationship-based and evidence-informed practice, with a strong commitment to social justice and advocating for a system that truly works for children.

2. Reviewing the scope and reach of outreach and community services

Our outreach and community services continue to evolve to meet the needs of beneficiaries. We offer a range of group work alongside bespoke one-to-one work, as further detailed below.

Our work is focused on both mothers and fathers and the role they each have in their fathers are often a marginalised group, and we are working with individual fathers and local authorities to try to redress this issue.

  1. Continued emphasis on staff training and development

We have updated our induction services which has encouraged broader integration across services. This has been supported by increased opportunities for whole team training and knowledge sharing through the wider training programme.

We support staff in their early careers as social workers through the ASYE scheme (Assessed and Supported Year in Employment), and provide a wide-reaching training programme for all practitioners and support staff.

  1. Recruitment to the Board of Trustees to replace trustees who have completed their terms of office, and to further strengthen diversity and skills

We have successfully recruited two new trustees in March 2025: Sean Cranitch and Candice Levy.

Sean spent 25 years working in Inner London schools as headteacher and school governor, with extensive experience of working closely with families facing extraordinary challenges.

Candice protection, residential care and family assessment, and is an advocate for traumainformed, child-centred practice.

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Trustees 31 March 2025

A further three trustees have joined the board in June 2025: Shantel Thomas, Maria Takaendisa, Regina Zyrek.

Shantel is a social work leader and activist, and has led change across youth justice, academia and professional leadership. Shantel champions equality and challenges systemic racism.

Maria is a transformative Ubuntu coach with expertise in trauma, including racial, organisational and vicarious trauma, with a deep belief in the power of being heard and creating environments that foster healing, justice and equity.

Regina has over 8 years experience of HR leadership in the non-profit sector, and is committed to best practice, inclusion and social impact.

The combined skills, experience and backgrounds of the new trustees bring further rigour and diversity to the board.

Update on services and performance

During 2024-2025 over 220 parents were helped though all our services, as further detailed below (2024: 225 parents).

As in previous years, the parents we worked with have complex backgrounds. By working alongside parents to address pressing difficulties and past trauma we have given them the opportunity to improve their parenting skills so children stay with their parents and do not go into care wherever possible.

Residential Centres

The last year has continued to present challenges in recruiting staff, which has been a sector-wide issue within social care. Nonetheless, we have continued to offer consistent and high quality support through our range of services to an increased number of families this year.

Whilst local authorities continue to be faced with financial constraints, residential assessments are still regarded as effective and assist the family courts in making a decision that secures the best future for the child or children. Our 3 residential centres are accredited with Ofsted and all assessed as Good.

We worked with 23 families including 29 children (2024: 22 families), residentially from 9 different local authorities. Early intervention is often critical: the majority (69%) of children we worked with were less than one year old (2024: 80%).

This year 43% of families returned to the community with their children (2024: 41%). For a further 9% of families the final outcome is not known this reflects the extended period between placements ending and the final court hearing.

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Trustees 31 March 2025

This year 6 families (26%) had had a total of 14 children removed from their care prior to being placed with us, and 3 of them returned home with their subsequent child. The lack of support for parents following removal of a child is an issue we are endeavouring to address through our Securing Change programme.

Securing Change

This service has continued to be offered to all parents who undergo a residential assessment, to offer both practical and emotional support that embeds positive change, and to step in during periods when parents may be struggling. We are helping to reduce cases of mothers having children removed over and over again through repeat care proceedings.

Our Securing Change practitioner offers a bespoke service to each family she works with, introducing herself to the family whilst they are in residence and then agreeing next steps as they are ready to move on. Moving from a very supportive environment to independence can be daunting and our practitioner helps the family to prioritise their needs to try and smooth the transition.

Our dedicated practitioner has worked intensively with 18 parents in the year (2024:15). Typically, she will work with a family for between six and twelve months. We endeavour to and further afield.

Community Projects

We have continued with our outreach services for pregnant teenagers and young mothers and fathers up to 25 years. Our work is delivered through a combination of one-to-one bespoke support and group work. By successfully securing additional funding, we have expanded our work to cover a wider area of South London.

We have supported 52 young mums and 22 young fathers (2024: 50 and 22), through our one-to-one work. A further 22 parents have attended our support groups (2024: 31). We often work with parents over extended periods, in response to their ongoing needs.

The lives of the young parents we work with remain complex with many issues that need addressing: from support with housing and benefits, basic equipment for their home, debt advice, domestic violence, mental health issues, the child being subject to a child protection plan or a child in need plan, to name but a few. We have also supported parents through Health scheme, and provided opportunities to take part in our summer activities programme.

Our work is focussed on both young mothers and fathers to meet their individual needs. Young fathers are a marginalised group and the importance of offering a dedicated service to address their needs cannot be underestimated. A number of services see young fathers as the problem rather than the solution, and we are working with individual fathers, courts and local authorities to try to redress this issue.

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Trustees 31 March 2025

We are the delivery partner for Lambeth for the Caring Dads programme. Through our accredited trainer, we have delivered the Caring Dads programme to 29 Dads from both Lambeth and other referrers. We have also delivered training to other professionals wishing to become Caring Dads facilitators across 4 other boroughs.

Jigsaw

-friendly, self-contained family space in South London, accredited with NACCC. This service helps separated children and parents build stronger and healthier relationships. We aim to ensure both the child and parents have a good experience during contact and to make it as easy as possible for everyone.

This year, we provided contact to 58 families including 88 children (2024: 52 families, 75 children).

The contact centre is now open 7 days a week. Whilst we recognise that face-to-face contact is the preferred option, we also offer online contact for families living further afield.

Fundraising

We continue to be reliant on fundraising to support our work with families.

During the year, we received the final instalment of the Comic Relief, Winter Appeal. The campaign was promoted last year via the London Evening Standard and has generated additional unrestricted funding to support all our ongoing services with families.

We are grateful to all our partners, donors and marathon runners who support the ongoing delivery of our work. We also recognise former supporters who have left legacies this year.

We continue to build relationships with funders in order to build a confidence and belief in St Michael s work of support and interventions with families. We believe that closer collaboration and partnership will help to secure longer term funding for our work.

We have continued to develop our marketing strategy to ensure it supports fundraising. We have expanded our presence across a range of social media platforms in order to raise the profile of the charity, broaden engagement with supporters and build partnerships with other similar charities.

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Trustees 31 March 2025

FINANCIAL REVIEW

Results for the year

The overall deficit for the year was £144,256 (overall surplus for 2023/24: £227,791) following a decrease in income generated through charitable activities in the year.

The £46,446 deficit on restricted funds activities, is met through funds previously secured (brought forward). Meanwhile the £97,810 deficit on unrestricted funds activities has decreased unrestricted reserves carried forward to £690,745.

Income from our residential and community assessment services has decreased by 5% this year. The previous year included one-off other income for reimbursement for repair period. Income from continuing services has increased by 6%.

Income from our outreach and community work with young parents has also decreased by 30% this year. This is due to longer term grants for project work coming to an end.

Income from donations has increased by 27% and includes legacy income received in the year. Income raised through marathon sponsorship and individual donors has seen a small increase.

During the year we increased charges to Local Authorities to ensure that the impact of basis and are in line with market.

PRINCIPLE RISKS AND UNCERTAINTIES

risks are:

  1. General Reserves have been depleted through the losses incurred in three out of the last four previous financial years. Our strategic priority to build on key capabilities of staffing and infrastructure remains a key focus of the executive team following the appoitment of a new CEO in early 2025, and is integral to securing ongoing financial stability and rebuilding reserves.

  2. argely reliant on income from Local Authorities through spot purchasing contracts for placements in our residential assessment centres. We have seen a steady level of demand for our Residential Assessments, as a result of the providing a high quality and effective service, and an

acknowledgement of the continuing levels of need. The risk of a fall in placements and income is mitigated by the fact that broad base of Local Authorities and continues to develop additional services to meet the varied demands of supporting families. In addition, fundraising activities have been expanded to reduce the dependency on single sources of income.

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Trustees 31 March 2025

  1. focussed on ensuring the safeguarding of children in their planning, setting clear expectations of families and staff, close monitoring within the centres, risk identification, training and supervision of staff and monthly inspections. Our residential centres are also inspected by Ofsted. All are rated as Good.

  2. Staff recruitment and retention is a risk because without full teams we are unable to meet its

staff. Specific measures include annual salary benchmarking, investment in training and supervision, and career development and succession planning.

  1. mitigate this risk through close relationships with the Housing Associations to ensure timely delivery of routine repairs and to plan and schedule major works.

most significant risks at every Board meeting. Measures have been put in place, to the extent possible, to manage these risks in order to reduce b users or its reputation and financial position. Significant risks are brought to the attention of the Board as they arise.

Investment policy

all reserves are held in a form in which their

capital value is secure.

An amount of reserves equivalent to at least three months of working capital should remain readily available in a current account, or a deposit or savings account with instant access.

Reserves over and above three months of working capital can be held in deposit or savings accounts as long as access is available (without penalty costs) within a notice period enabling the Charity to meet its cash flow requirements above three-months of working capital.

Fundraising policy

improve the lives and futures of families which helps to secure the best possible future for their children.

-house fundraiser (Head of Fundraising) with a remit to raise funds from trusts, foundations, corporates and individuals. We use themed campaigns to target specific needs and engage support from the local community. We engage individuals through challenge events, regular giving and independent fundraisers. We do not carry out door-to-door or street fundraising.

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Trustees 31 March 2025

Our fundraising, in all its forms, is legal, open, honest and respectful. We clearly state how donations are used to fulfil our mission. We are respectful of the wishes, preferences, personal information and circumstances of the people we interact with and who choose to donate to us, and we will take all steps necessary to comply with the law and fundraising practice standards.

Our fundraising is compliant with the Fundraising Regulator as well as Charity Commission treating donors fairly and General Data Protection Regulation (GDPR). We do not use third party fundraisers, commercial participators or their representatives to raise funds for us.

We have a robust fundraising complaints policy and have not received any complaints in relation to our fundraising activities.

Reserves policy

The Trustees aim to maintain sufficient reserves to support the day-to-day expenditures and cash-flow demands, plus a sufficient buffer to cover the ongoing operating expenses of the services at times when demand may slacken.

To meet this need, the Trustees aim to maintain a General Fund (within unrestricted reserves) which is not less than budgeted operating expenses for core services.

The reserves policy is reviewed annually by the Trustees.

Reserves as of 31 March 2025

stand at £734,196 at 31 March 2025 (2024: £878,452) and are in two forms: restricted and unrestricted.

Restricted reserves

Restricted funds will be expended in due course in accordance with their restricted purposes. Restricted funds are £43,451 (2024: £89,897).

Unrestricted reserves

Unrestricted funds are retained to meet a number of needs:

The General Fund stands at £589,791 at March 2025 and covers 3.9 months operating costs (2024: £687,601, equivalent to 4.5 months) which is just below the threshold required by the reserves policy. The Trustees consider that the current level of reserves will provide sufficient cover to allow the business to continue to operate.

The Trustees have also decided to set aside funding for the development of work, via a Designated Development Fund.

The Designated Fund of £100,954 (2024: £100,954) is earmarked for strategic development and impact measurement; governance, leadership and management development; and upgrading furniture and equipment across services. There has been no change to the Designated Fund during the financial year.

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Trustees 31 March 2025

GOING CONCERN

As set out in the Going Concern section of the Principal Accounting Policies on page 24 of the Financial Statements, the Trustees have considered the operational actions taken by the leadership team since the appointment of a new CEO in early 2025, liquidity and reserves, current levels of activity and operating forecasts.

The Trustees consider that despite some continuing challenges, there are no material

FUTURE PLANS

The future plans are defined by the strategic objectives for the year. The immediate priority is building on key capabilities of staffing, including induction for the new CEO, whilst maintaining good governance and financial management.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The organisation is a charitable company limited by guarantee, incorporated on 23 March 1994 and registered as a charity on 31 March 1994. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in Note 6 to the accounts.

St Michael's Board of Trustees is also the Board of directors under company law. The Board meets formally four-six times a year. The Board of Trustees delegates to the Chief Executive the responsibility for managing all the day-to-day affairs of the organisation that fall within the scope of an annually agreed budget and operating plan. The Treasurer maintains contact with the Chief Executive and the Head of Finance to provide oversight of financial management, systems and procedures, under authority delegated by the full Board of Trustees and in accordance with the financial procedures.

To support the work of the Board there are two sub-committees chaired by Trustees and reporting to the Board:

In addition, 2 Trustees are assigned to the residential centres, with responsibility for bimonthly inspection visits. Reports from inspection visits are provided to the Board.

The organisation's occupancy of the houses in which it provides its residential assessment services is governed by management agreements with London and Quadrant Housing Trust and Southern Housing.

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Trustees 31 March 2025

In line with the recommended practice of the Charity Governance Code, the Board of Trustees has adopted a Governance Manual to provide guidance to Trustees and staff involved in the governance and management of the organisation.

The Trustees believe that the diversity of the service users and staff should be reflected in the makeup of the Board. It recognises that diversity in all its forms leads to a more effective Board. The Board regularly reviews skills, experience and diversity of its members to inform Trustee recruitment.

The Board ensures conflicts of interest and duties are properly addressed and has drawn up a conflicts of interest policy and maintains a register of interests. At the start of each Board meeting all Trustees are asked to confirm that they have no conflicts of interest in

Under company law we are required to identify the people with significant control (PSC) over the company and confirm their information, maintain a record and provide this information to Companies House annually. We, as a Board, have considered this requirement and do not believe that any Board member or member of staff has significant control over the organisation. Our PSC register reflects this position.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2025 was 8 (2024 8). The Trustees are members of the charity but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

Appointment and departure of Trustees

The Trustees give their time voluntarily. Trustees have been recruited by advertisement as and when new appointments need to be made in accordance with a matrix of skills and experience that the Board has agreed to be required. New Trustees are inducted by way of personal briefings, an induction pack and the support of a more experienced Trustee. All Trustees opportunities for Trustee training by attending relevant conferences and seminars. Trustees are appointed to the Board by the existing Trustees. The Trustees are the members of the charitable company.

During the year, Val Wass and Oretha Wofford resigned as trustees. Both gave their time generously and we are indebted to them for their invaluable support.

Remuneration policy for key management personnel

To deliver its and qualifications. We are committed to ensuring that we pay our staff a fair and appropriate salary that is within our means.

We monitor salaries against the National Joint Council pay scales for all staff, and any overall changes to the rates of pay or to the salaries of senior staff are approved by the Board. The pension provisions for all staff regardless of seniority are the same.

The remuneration ratio (highest paid versus the median salary) is 1.9:1 (2024 2.1:1). We are committed to paying the London Living wage and above.

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31 March 2025

Trustees

T RESPONSIBILITES STATEMENT

The Trustee law) are responsible for preparing the Trustee 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 income and expenditure of the charity for that period.

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 charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Each of the Trustees confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

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Trustees 31 March 2025

ENT (continued)

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustee s’ report has been approved by the Trustees on 15 December 2025 and signed on their behalf by:

Chair - Jonathan Bannister

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Year to 31 March 2025

Opinion

ent of financial activities, the balance sheet, and statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the fi Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, including the trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Year to 31 March 2025

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the which the Companies Act 2006 requires us to report to you if, in our opinion:

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Year to 31 March 2025

Responsibilities of trustees

sponsibilities statement set out on page [X], the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

How the audit was considered capable of detecting irregularities including fraud

Our approach in identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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Year to 31 March 2025

misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

websit report.

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Year to 31 March 2025

Use of our report

with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Hugh Swainson (Senior Statutory Auditor) For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

19 December 2025

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Statement of financial activities Year to 31 March 2025

(including income and expenditure account)

Notes Restricted
fund
£		 Unrestricted
funds
£		 Total
funds
2025
£		 Restricted
fund
£
--
--
1,000
514,752
2,700
518,452
468
5,606
496,430
2,667
505,171
13,281
30,794
44,075
45,822
89,897		 Unrestricted
funds
£		 Total
funds
2024
£
Income from:
Donations
1
Interest receivable
Charitable activities:
. Residential and community
assessment
2a
. Community projects
2b
. Residents grants fund
13
Total income
Expenditure on:
Raising funds
Charitable activities
. Residential and community
assessment
. Community projects
. Residents grants fund
13
Total expenditure
3
Net (expenditure) income
before transfer
5
Transfers between funds
13
Net (expenditure) income and
net movement in funds
Reconciliation of funds
Fund balances brought forward
at 1 April 2024
Fund balances carried forward
at 31 March 2025
13		 23,000
--
1,000
363,241
2,300		 138,454
18,271
2,014,110
31,771
--		 161,454
18,271
2,015,110
395,012
2,300		 127,179
19,190
2,124,951
41,879
--		 127,179
19,190
2,125,951
556,631
2,700
389,541 2,202,606 2,592,147 2,313,199 2,831,651
8,118
2,294
423,888
1,687		 60,742
2,139,515
100,159
--		 68,860
2,141,809
524,047
1,687		 62,953
1,956,861
78,875
--		 63,421
1,962,467
575,305
2,667
435,987 2,300,416 2,736,403 2,098,689 2,603,860
(46,446)
--		 (97,810)
--		 (144,256)
--		 214,510
(30,794)		 227,791
--
(46,446)
89,897		 (97,810)
788,555		 (144,256)
878,452		 183,716
604,839		 227,791
650,661
43,451 690,745 734,196 788,555 878,452

All of the above results are derived from material continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 13 to the financial statements.

21

Balance sheet 31 March 2025

2025 2025 2024 2024
Notes £ £ £ £
Fixed assets
Tangible assets 9 17,872 11,810
Current assets
Debtors 10 424,145 572,135
Cash at bank and in hand 532,079 537,254
956,224 1,109,389
Creditors: amounts falling due
within one year 11 239,900 242,747
Net current assets 716,324 866,642
Total net assets 12 734,196 878,452
Funds
Restricted funds 43,451 89,897
Unrestricted funds
. Designated fund 100,954 100,954
. General fund 589,791 687,601
Total funds 13 734,196 878,452

Approved by the Trustee s of St Michael’s Fellowship, Company Registration Number 02914273 (England and Wales), 15 December 2025, and signed on their behalf by:

Chair - Jonathan Bannister

22

Statement of cash flows 31 March 2025

----- Start of picture text -----
2025 2024
Notes
£ £
Cash flows from operating activities:
Net (expenditure) income for the year (as per the financial
statements) (144,256) 227,791
Depreciation charges 7,195 6,974
Interest receivable (18,271) (19,190)
Decrease (increase) in debtors 147,990 (253,294)
(Decrease) increase in creditors (2,847) 16,972
Net cash (used in) operating activities (10,189) (20,747)
Cash flows from investing activities:
Interest received 18,271 19,190
Purchase of fixed assets (13,257) (14,545)
Net cash provided by investing activities 5,014 4,645
Change in cash and cash equivalents in the year (5,175) (16,102)
Cash and cash equivalents at the beginning of the year A 537,254 553,356
Cash and cash equivalents at the end of the year A 532,079 537,254
----- End of picture text -----

A Analysis of cash and cash equivalents

2025
£
118,729
413,350
532,079		 2024
£
Cash at bank and in hand
Notice deposits (less than three months)
Total cash and cash equivalents		 89,781
447,473
537,254

23

Principal accounting policies 31 March 2025

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2025 with comparative information presented in respect of the year to 31 March 2024.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) updated 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The financial statements are presented in sterling and are rounded to the nearest pound.

Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

Critical accounting estimates and areas of judgement

Preparation of the financial statements requires the Trustees to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include the estimation of the useful economic life of tangible fixed assets and the basis on which the support costs are allocated across the various categories of charitable expenditure.

Going concern

The Trustees have considered the operational actions taken by the leadership team since the appointemnt of a new CEO in early 2025, liquidity and reserves, current levels of activity and operating forecasts.

The Trustees consider that despite some continuing challenges, there are no material going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

24

Principal accounting policies 31 March 2025

Income

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Donations are received by way of donations and gifts and is usually included in full in the statement of financial activities when received. Donations received in respect of the London Marathon event are deferred until the Marathon has taken place.

Revenue grants are credited to the statement of financial activities when received or receivable whichever is earlier. Grants received that relate to a specific time period are deferred if it is outside the accounting period.

Fee and contract income is credited to the statement of financial activities in the period in which it is receivable and where any performance conditions attached to the income have been met. Any fee income received in advance of the financial period to which it relates is deferred and recognised in line with the period over which the related activity will be undertaken.

Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has received the service, any conditions associated with the donation have been met, and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised. Trustees give their time voluntarily.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably; this is normally upon notification of the interest paid or payable by the bank.

Expenditure and irrecoverable VAT

Expenditure is recognised in the period in which it is incurred. Expenditure includes attributable VAT which cannot be recovered.

Expenditure on raising funds relates to the costs incurred by the charitable company in raising funds for the charitable work, as well as the cost of any activities with a fundraising purpose. Specifically, this includes the Bonds payable for the runners in the London Marathon.

25

Principal accounting policies 31 March 2025

Expenditure and irrecoverable VAT (continued)

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of the area of literature occupied by each activity.

Expenditure is allocated to a particular activity where the cost relates directly to that activity.

Support costs for the overall direction and administration of each activity, comprising the salary and overhead cost of the central function, are apportioned on the following basis:

Note 4 shows how support costs have been re-allocated to the residential assessment centres and community projects.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and Governance costs have been apportioned across residential assessment centres and community projects based on the income ratios of each activity.

Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £2,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

House fixtures and fittings House fixtures and fittings 10 years (10%)
House equipment 4 years (25%)
Head office leasehold 10 years (10%)
Head office equipment telephone system 10 years (10%)
Head office equipment equipment 4 years (25%)

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

26

Principal accounting policies 31 March 2025

Cash at bank and in hand

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.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Fund accounting

Restricted funds are to be used for specific purposes within the charitable objects as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are maintenance fees, grants, charges, donations and other incoming resources receivable or generated for the objects of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

The charity transfers funds from unrestricted funds to restricted funds where there has been higher expenditure in running a project than the funds provided. Transfers of funds also are made from the general fund to designated funds in order to reach the specified target balances of the designated funds. No transfers are made out of restricted funds without written authority from the original funder.

Operating leases

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financial activities in the year in which they fall due.

Pensions

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.

27

Notes to the financial statements - Year to 31 March 2025

1 Income from donations

Income from donations
Restricted
funds
£		 Unrestricted
funds
£		 2025
Total
funds
£
London Marathon
29thMay Trust
B&Q Foundation
Cloth
Comic Relief
Dyers Company
Elizabeth & Prince Zaiger Trust
Howberry Trust
Jet Charitable Trust
Twinkle Trust
University of Roehampton Grad Scheme
Uxbridge Foundation
Gift in kind
Legacy income
Other donations		 --
--
10,000
10,000
--
--
--
--
--
--
3,000
--
--
--
--		 23,065
6,000
--
--
54,000
3,000
5,000
2,000
500
1,000
2,000
1,350
20,850
19,689		 23,065
6,000
10,000
10,000
54,000
3,000
5,000
2,000
500
1,000
3,000
2,000
1,350
20,850
19,689
23,000 138,454 161,454

----- Start of picture text -----
2024
Restricted Unrestricted Total
funds funds funds
£ £ £
London Marathon -- 14,746 14,746
--
Baring Foundation 16,397 16,397
--
Beatrice Laing Trust 5,000 5,000
Comic Relief -- 50,000 50,000
--
Dyers Company 1,000 1,000
--
Elizabeth & Prince Zaiger Trust 5,000 5,000
--
Howberry Trust 2,000 2,000
Humble Trust -- 200 200
Jet Charitable Trust -- 500 500
Paget Charitable Trust -- 2,000 2,000
Rathbone Redfern -- 2,000 2,000
Worshipful company of Fanmakers -- 2,500 2,500
29 [th] May Trust -- 3,000 3,000
Gift in kind -- 2,057 2,057
Other donations -- 20,779 20,779
-- 127,179 127,179
----- End of picture text -----

28

Notes to the financial statements - Year to 31 March 2025

2 Income from charitable activities

a. Residential and community assessment

----- Start of picture text -----
2025
Restricted Unrestricted Total
funds funds funds
£ £ £
General fees -- 1,879,465 1,879,465
Parental support -- 126,597 126,597
Charges -- 4,352 4,352
Other 1,000 3,696 4,696
1,000 2,014,110 2,015,110
2024
Restricted Unrestricted Total
funds funds funds
£ £ £
General fees -- 1,802,513 1,802,513
Parental support -- 79,433 79,433
Supporting people -- 10,388 10,388
Charges -- 5,117 5,117
Other Reimbursement for repair period -- 227,500 227,500
Other grant 1,000 -- 1,000
1,000 2,124,951 2,125,951
----- End of picture text -----

b. Community projects

Community projects
Restricted
funds
£		 Unrestricted
funds
£		 2025
Total
funds
£
Lambeth Outreach Young Parents
Lambeth other
Caring Dads Programmes
Charles Hayward
City Bridge Trust
Comic Relief
Fatherhood Institute
Segelman Trust
St James Place Foundation
Other		 150,000
63,888
--
15,000
29,175
6,137
29,999
35,000
30,000
4,042
363,241		 --
--
28,001
--
--
--
--
--
--
3,770
31,771		 150,000
63,888
28,001
15,000
29,175
6,137
29,999
35,000
30,000
7,812
395,012

29

Notes to the financial statements - Year to 31 March 2025

2 Income from charitable activities (continued)

----- Start of picture text -----
2024
Restricted Unrestricted Total
funds funds funds
£ £ £
Lambeth Outreach Young Parents 157,500 -- 157,500
Lambeth other 60,888 -- 60,888
Lambeth Start for Life 50,000 -- 50,000
Basketmakers Charitable Trust 1,000 -- 1,000
Caring Dads Programmes -- 31,486 31,486
Charles Hayward 15,000 -- 15,000
City Bridge Trust 56,725 -- 56,725
Comic Relief 81,448 -- 81,448
Ironmongers 9,116 -- 9,116
John Coates Charitable Trust 5,000 -- 5,000
L&Q Placemmakers Fund 6,250 -- 6,250
Lambeth Summer HAP 75 -- 75
100 -- 100
Segelman Trust 35,000 -- 35,000
St James Place Foundation 30,000 -- 30,000
1485 Hardship fund 1,000 -- 1,000
Other 5,650 10,393 16,043
514,752 41,879 556,631
----- End of picture text -----

3 Total expenditure

Staff costs (note 6)
Premises costs
Maintenance
Insurance
Professional fees
Housing association
charges
Communications and
stationery
Publicity
Depreciation
Audit and
accountancy
Travel and sundry
expenses
Total expenditure
Reallocation of
support costs (note 4)
Reallocation of
governance costs
Total expenditure		 Costs of
raising
funds
£
19,040
--
--
--
216
--
2,803
5,086
--
--
--
57
27,202
38,132
3,526
**68,860 **		 Residential
and
community
assessment
£
1,589,021
49,876
16,355
--
10,611
78,032
47,554
--
9,078
5,831
--
5,128		 Community
projects
£
449,488
264
--
--
--
--
2,791
--
10,996
--
--
3,735		 Residents
grants fund
£
--
--
--
--
--
--
--
--
1,687
--
--
--		 Governance
costs
£
7,285
--
--
--
1,034
--
60
--
--
--
16,266
162		 Support
costs
£
245,089
61,886
2,795
20,260
30,215
--
37575
--
294
1,363
--
4,470		 2025
Total
£
2,309,923
112,026
19,150
20,260
42,076
78,032
90,783
5,086
22,055
7,194
16,266
13,552
1,811,486 467,274 1,687 24,807 403,947 2,736,403
284,481
45,842
2,141,809		 47,369
9,404
524,047		 --
--
1,687		 33,965
(58,772)
--		 (403,947)
--
--		 --
--
2,736,403

30

Notes to the financial statements - Year to 31 March 2025

3 Total expenditure (continued)

Staff costs (note 6)
Premises costs
Maintenance
Insurance
Professional fees
Housing association
charges
Communications and
stationery
Publicity
Depreciation
Audit and
accountancy
Travel and sundry
expenses
Total expenditure
Reallocation of
support costs (note 4)
Reallocation of
governance costs
Total expenditure		 Costs of
raising
funds
£
14,871
--
--
--
216
--
4,336
3,287
--
--
--
2,101		 Residential
and
community
assessment
£
1,440,437
44,588
23,788
--
15,386
80,065
38,119
--
6,576
3,508
--
5,416
1,657,883
268,616
35,968
1,962,467		 Community
projects
£
483,689
--
424
--
2,176
--
4,876
--
18,069
--
--
5,562		 Residents
grants fund
£
--
--
--
--
--
--
--
--
2,667
--
--
--		 Governance
costs
£
6,297
--
--
--
3,926
--
--
--
--
--
13,590
6		 Support
costs
£
249,398
74,846
2,938
18,068
2,965
--
26,979
--
164
3,465
--
1,061		 2024
Total
£
2,194,692
119,434
27,150
18,068
24,669
80,065
74,310
3,287
27,476
6,973
13,590
14,146
24,811 514,796 2,667 23,819 379,884 2,603,860
36,146
2,464
63,421		 49,669
10,840
575,305		 --
--
2,667		 25,453
(49,272)
--		 (379,884)
--
--		 --
--
2,603,860

4 Support costs

Support costs
Costs of
raising
funds
£
Residential
and
community
assessment
£		 Community
projects
£		 Governance
£		 2025
Total
£
Head office staff
Premises costs
Maintenance
Insurance
Professional fees
Communications and
stationery
Depreciation
Travel and sundry		 22,729
7,917
358
2,592
--
3,790
--
174
572
38,132		 185,625
31,045
1,402
10,163
30,215
22,810
295
684
2,242
284,481		 5,229
21,660
978
7,091
--
10,370
--
477
1,564
47,369		 31,506
1,264
57
414
--
605
--
28
91
33,965		 245,089
61,886
2,795
20,260
30,215
37,575
295
1,363
4,469
403,947

31

Notes to the financial statements - Year to 31 March 2025

4 Support costs (continued)

Costs of
raising
funds
£
Residential
and
community
assessment
£		 Community
projects
£		 Governance
£		 2024
Total
£
Head office staff
Premises costs
Maintenance
Insurance
Professional fees
Communications and
stationery
Depreciation
Travel and sundry		 20,346
9,550
375
2,306
--
3,127
--
442
--
36,146		 199,502
37,749
1,482
9,113
2,965
14,832
164
1,748
1,061
268,616		 6,333
26,196
1,028
6,323
--
8,577
--
1,212
--
49,669		 23,217
1,351
53
326
--
443
--
63
--
25,453		 249,398
74,846
2,938
18,068
2,965
26,979
164
3,465
1,061
379,884

5 Net income(expenditure) for the year

Net income(expenditure) for the year
Net income (expenditure) is stated after charging: 2025
£
7,195
44
13,555
--
123,032		 2024
£
Depreciation
Auditor
s remuneration
. Audit
Operating lease rentals
. Equipment
. Property		 6,974
--
12,925
7,880
128,446

6 Analysis of staff costs, cost of key management personnel, and Trustee remuneration and expenses

----- Start of picture text -----
Staff costs were as follows: 2024 2024
£ £
Salaries and wages 1,409,711 1,376,286
--
Redundancy and termination costs 8,857
Social security costs 187,364 181,416
Employer's contribution to defined contribution pension schemes 98,302 84,283
Sessional staff 467,991 452,900
Agency staff 82,258 44,601
Other staff costs 55,426 55,206
2,309,909 2,194,692
----- End of picture text -----

1 employee earned between £60,000-£70,000 and 1 employee earned between £70,000-£80,000 (2024: 1 employee between £70,000-£80,000)

The total employee benefits including pension contributions and national insurance of the key management personnel were £219,167 (2024: £211,263).

32

Notes to the financial statements - Year to 31 March 2025

6 Analysis of staff costs, cost of key management personnel, and Trustee remuneration and expenses (continued)

The charity Trustees were not paid nor received any other benefits from employment with the charity in the year (2024: £nil). No charity Trustee received payment for professional or other services supplied to the charity (2024: £nil).

Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling £44 (2024: £nil) incurred by members relating to attendance at meetings of the Trustees.

The average number of employees, including sessional staff, employed during the year was as follows:

Social and care workers
Management		 Headcount
(number of staff employed)		 Headcount
(number of staff employed)		 Full-time equivalent
2025
No.
2024
No.
39.15
38.91
6.26
6.53
45.41
45.44
2025
No.
55.94
6.25
62.20		 2024
No.
54.12
7.28
61.40		 2025
No.
39.15
6.26
45.41

7 Related party transactions

There are no related party transactions to disclose for 2025 (2024: none).

Aggregate donations from related parties were £506 (2024: £794), all of which arise in the normal course of business.

8 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9 Tangible fixed assets

----- Start of picture text -----
House
Leasehold Head office fixtures and House
improvements equipment fittings equipment Total
£ £ £ £ £
Cost
At the start of the year 94,687 64,110 18,402 40,009 217,208
Additions during the year -- 3,967 2,903 6,387 13,257
At the end of the year 94,687 68,077 21,305 46,396 230,465
Depreciation
At the start of the year 94,687 62,994 12,243 35,474 205,398
Charge for the year -- 1,363 2,710 3,122 7,195
At the end of the year 94,687 64,357 14,953 38,596 212,593
Net book value
At the end of the year 3,720 6,352 7,800 17,872
At the start of the year 1,116 6,159 4,535 11,810
----- End of picture text -----

All of the above assets are used for charitable purposes.

33

Notes to the financial statements - Year to 31 March 2025

10 Debtors

Debtors
2025
£
381,454
--
42,691
424,145		 2024
£
Trade debtors receivable
Other debtors
Prepayments and accrued income		 280,090
232,497
59,548
572,135

11 Creditors: amounts falling due within one year

----- Start of picture text -----
2025 2024
£ £
Trade creditors 48,925 66,100
Taxation and social security 53,399 47,543
Deferred income 9,274 19,162
Accruals 66,715 76,115
Other creditors 61,587 33,827
239,900 242,747
----- End of picture text -----

Deferred income comprises a grant received at the end of the year that relates to 2025-26, plus marathon donations made in advance for the April 2025 event (2024: deferred grant and marathon income).

12 Analysis of net assets between funds

General
unrestricted
£		 Designated
funds
£		 Restricted
funds
£		 2025
Total
funds
£
Tangible fixed assets
Net current assets
Net assets at 31 March 2025		 15,336
574,455
589,791		 --
100,954
100,954		 2,536
40,915
43,451		 17,872
716,324
734,196
General
unrestricted
£		 Designated
funds
£		 Restricted
funds
£		 2024
Total
funds
£
Tangible fixed assets
Net current assets
Net assets at 31 March 2024		 11,245
676,356
687,601		 --
100,954
100,954		 565
89,332
89,897		 11,810
866,642
878,452

Restricted Funds: Fixed assets with a net book value of £2,536 have been purchased with restricted funds (2024: £565). This comprises the balance of the Capital Appeal for replacement carpet at one of the residential units which is being depreciated over 10 years.

34

Notes to the financial statements - Year to 31 March 2025

13 Movement in funds

----- Start of picture text -----
At 1 April Income and Expenditure At 31 March
2024 gains and losses 2025
£ £ £ £
Restricted funds:
Lambeth Outreach Young
Parents -- 150,000 (150,000) --
Lambeth other -- 18,388 (18,388) --
Lambeth Public Health 11,535 -- (378) 11,157
Lambeth Caring Dads -- 45,500 (45,500) --
Lambeth Start for Life 45,000 -- (45,000) --
City of London, City Bridge
Trust -- 29,175 (29,175) --
CWDC 5,174 -- (1,294) 3,880
ASYE Dept. for Education -- 1,000 (1,000) --
Foyle Foundation 8,929 -- (76) 8,853
Residents grants fund 3,499 2,300 (1,687) 4,112
Elizabeth & Prince Zaiger Trust
Capital 567 -- (206) 361
Summer Trips Appeal 8 -- (8) --
University of Roehampton
Graduate Scheme -- 3,000 (3,000) --
B&Q Foundation -- 10,000 (2,456) 7,544
10,000 (2,456) 7,544
Charles Hayward -- 15,000 (15,000) --
Segelman Trust -- 35,000 (35,000) --
1485 Hardship Fund 407 -- (407) --
St James Place Foundation -- 30,000 (30,000) --
Fatherhood Institute -- 29,999 (29,999) --
The Change Foundation -- 1,542 (1,542) --
Comic Relief 14,778 6,137 (20,915) --
CAFCASS -- 2,500 (2,500) --
Total restricted funds 89,897 389,541 (435,987) 43,451
Unrestricted funds:
Designated funds:
. Development fund 100,954 -- -- 100,954
Total designated funds 100,954 -- -- 100,954
General fund 687,601 2,202,606 (2,300,416) 589,791
Total unrestricted funds 788,555 2,202,606 (2,300,416) 690,745
Total funds 878,452 2,592,147 (2,736,403) 734,196
----- End of picture text -----

The narrative to explain the purpose of each fund is given below.

35

Notes to the financial statements - Year to 31 March 2025

13 Movement in funds (continued)

----- Start of picture text -----
At 1 April Income and Expenditure At 31 March
2023 gains and losses Transfers 2024
£ £ £ £ £
Restricted funds:
Lambeth Outreach Young
Parents -- 157,500 (188,294) 30,794 --
Lambeth other -- 13,388 (13,388) -- --
Lambeth Public Health 11,895 -- (360) -- 11,535
Lambeth Caring Dads -- 47,500 (47,500) -- --
Lambeth Start for Life -- 50,000 (5,000) -- 45,000
City of London, City Bridge
Trust -- 56,725 (56,725) -- --
-- 100 (100) -- --
CWDC 9,574 -- (4,400) -- 5,174
ASYE Dept. for Education -- 1,000 (1,000) -- --
Foyle Foundation 8,982 -- (53) -- 8,929
Residents grants fund 3,466 2,700 (2,667) -- 3,499
Elizabeth & Prince Zaiger Trust
Capital 773 -- (206) -- 567
Summer Trips Appeal 427 75 (494) -- 8
Basketmakers Charitable Trust -- 1,000 (1,000) -- --
John Coates Charitable Trust -- 5,000 (5,000) -- --
L&Q Placemakers Fund 8,967 6,250 (15,217) -- --
Invesco Cares Foundation -- 3,150 (3,150) -- --
Garfield Weston Foundation 572 -- (572) -- --
Charles Hayward -- 15,000 (15,000) -- --
Tudor Trust Wellbeing 468 -- (468) -- --
Segelman Trust -- 35,000 (35,000) -- --
1485 Hardship Fund 698 1,000 (1,291) -- 407
St James Place Foundation -- 30,000 (30,000) -- --
Ironmongers -- 9,116 (9,116) -- --
Comic Relief -- 81,448 (66,670) -- 14,778
CAFCASS -- 2,500 (2,500) -- --
Total restricted funds 45,822 518,452 (505,171) 30,794 89,897
Unrestricted funds:
Designated funds:
. Development fund 954 -- -- 100,000 100,954
Total designated funds 954 -- -- 100,000 100,954
General fund 603,885 2,313,199 (2,098,689) (130,794) 687,601
Total unrestricted funds 604,839 2,313,199 (2,098,689) (30,794) 788,555
Total funds 650,661 2,831,651 (2,603,860) -- 878,452
----- End of picture text -----

36

Notes to the financial statements - Year to 31 March 2025

13 Movement in funds (continued)

Purposes of restricted funds

Lambeth Outreach Young Parents

The fund supports delivery of services in the community to young mothers and fathers, up to age of 24 years.

Lambeth Other

This fund supports group sessions for young parents for advice, support and sporting activities,

Lambeth Public Health

To enable St Michael's to support the prevention of unintentional injuries in children aged 0 - 5 by funding the supply of home safety equipment and education.

Lambeth Caring Dads

This fund supports the delivery of the Caring Dads programme to young fathers living in Lambeth.

Lambeth Start for Life

To support parenting, parent-infant relationships and infant feeding interventions.

City of London, City Bridge Trust

This fund is to support the delivery of services in the community to young mothers and fathers.

National Children's Bureau (LEAP)

This fund is to support parents' groups in the LEAP (Lambeth Early Action Partnership) areas, through the REAL programme (Raising Early Achievement in Literacy).

within the organisation.

Assessed and Supported Year in Employment (ASYE) Dept. for Education

To support newly qualified social workers in their first year of employment.

Foyle Foundation

A grant to support and teach literacy and numeracy across all our services.

Residents grants fund

This fund includes amounts received from various organisations including Housing the Homeless, for specific equipment and other purchases for some of the families as they move to new accommodation. The carried forward funds will be spent in the following year. These funds continue to be segregated in a separate bank account.

Elizabeth & Prince Zaiger Trust - Capital

To support the Capital Appeal to replace furniture, carpets, equipment and toys in St

37

Notes to the financial statements - Year to 31 March 2025

13 Movement in funds (continued)

Purposes of restricted funds (continued)

Summer trips Appeal

To fund summer activities for the families with whom we work.

Basketmakers Charitable Trust

To support work with young parents

John Coates Charitable Trust

To support work with young parents

University of Roehampton Graduate Internship

Scheme to pay for the employment of a University graduate and an undergraduate, to support the fundraising function on an internship.

London & Quadrant Placemakers Fund

This fund is to support the continuation of the Securing Change programme.

Garfield Weston Foundation

This fund is also to support the continuation of the Securing Change programme

B&Q Foundation

To support the replacement of furniture, carpets, equipment in the Residential Schemes and at Head Office.

To support the replacement of furniture, carpets, equipment in the Residential Schemes and at Head Office.

Tudor Trust Wellbeing

The Fatherhood Institute

Funding to support the evaluation and adaptation of the Fathers for Change programme for use in England.

The Change Foundation

This funding is to supports the delivery of a group programme in Greenwich.

38

Notes to the financial statements - Year to 31 March 2025

13 Movement in funds (continued)

Purposes of restricted funds (continued)

Segelman Trust

This fund is to support the delivery of community and outreach services for expectant and young parents.

St James Place foundation

This fund is also to support the delivery of community and outreach services for expectant and young parents

Invesco Cares Foundation

To support group work with parents

Charles Hayward

Funding to support work with young fathers in South London

Comic Relief

1485 Hardship Fund

To support parents to provide a safe and secure environment for their children.

Ironmongers

To support group work with young mothers.

CAFCASS

Funding to assist with the provision of supported contact services to children and families.

Purposes of designated funds

Development fund

The development fund was set up to hold monies designated for expenditure on existing and new work subject to the case-by-case approval of the Trustees, as set out in the Trustee . Funds have been designated for strategic development and impact measurement; governance, leadership and management development; and upgrading furniture and equipment across all services. Trustees have agreed main areas for utilisation of the designated fund in the coming year.

39

Notes to the financial statements - Year to 31 March 2025

14 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

----- Start of picture text -----
Equipment Property
2025 2024 2025 2024
£ £ £ £
Less than one year -- -- 84,697 83,151
One to five years -- -- 180,000 --
Over five years -- -- 11,250 11,250
-- -- 275,947 94,401
----- End of picture text -----

15 Contingent assets or liabilities

At the balance sheet date, the charity has no contingent assets or liabilities (2024: £nil).

16 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

40