FINE CELL WORK (LIMITED BY GUARANTEE) CharltyReglstrallon No. 1049095 Company Registration No.03095356 (Englandandwales) TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 FINE CELL WORK (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Patrons Tracy ChevalKgr Dame Judl Dench CH Kaffe Fassett Esther F￿￿d Calh lfjdston MBE Llbby Purves OBE The Hon.Emma Soames Isabella Tree Trust•88 Jennifor Rademak¢F (Chalr) Aprfl Blrtvthisile Julian Dimenl EIIz8belh Downlng Tabltha Elwes Annabel Franks Kit Kemp MBE Nlck Moore {Vlce Chairl Jane Mulvagh Ellzabelh Rose ITreasurer) Cothy Robinson Ex￿yt￿V• Dir•etor VIGtoria Glllles Foundlng DlroGtor Dr Katy EmGk OBE Flnanclal Dlrector Mariana Spatsr Charty Number lo4￿95 Company Numb 03095356 Auditors James CowpeT Kreston Audll Ap6x Forbury Road Reading RG1 1AX Bankers Unity Trust Bank 4 Brindley Place Blrmingham B12HB FINE CELL WORK (LIMITED BY GUARANTEE) CONTENTS Page TRUSTEES. REPORT Vislon, Mlssion. Aims and Values Govemance, Structure and Management Executive Summary Chjr Programmes- how we suppc*t our beneficlarfes (>Jr Impact How we Fund our Work How we Communicate Future Areas of Focus Prinryple Risks and Uncertalnties Flnancial Review ReseNes Pdi Corporate and Soclal Responsibility 16 20 24 27 27 28 REPORT OF THE INDEPENDENT AUDITORS STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI 34 BALANCE SHEET 35 CASH FLOW STATEMENT NOTES TO THE ACCOUNTS 37 FINE CELL WORK IUMITED BY GUARANTEEI TRUSTEES, REPORT FOR THE YEAR ENDED 31ST DECEMBER 2025 The Trustees present their report and a￿unts for the 12-month period ended 31 D&embw 2025. The accounts have been prepared in accordanGe with Fine Cell Wcik's Memorandum and Article5 of Asslxlalon and wfilh the accounting policies set out in note 2 to the accounls and comply with the charl￿$ governing dc￿men( appllcable law and the requirements of the Charities SORP {FRS 102). VISION. MISSION. AIMS AND VALUES Our vlslon is for wtsonors and prison leavers lo rebuild meaningful, independent, crfmfrfree lives. r mlsslon Is to train prisoners and prison leavers In hIg￿ualty needlework and t8xtlles skills. so that they can engage In paid, purposeful, professlonal. creallve athiity. r aims are.. To provlde paid. purposeful act1￿ty To foster hope To rebuild Ilves To create opportunities To facilitate reintegrauon into our communltles Our values are: Incluslvlty Creatiwty Excellence In everything GOVERNANCE, STRUCTURE AND MANAGEMENT Govorning Docum•nt The organisation is a charitable company Ilmited by guarantee. Incorporated C￿ 25 August 1995 and reglstered as a charity on g Seplembor 1995. The ￿MpanY was established under a Memorandum of Association whlch establlshed the objecls and powers of the Gharitable company and is gov8med under ils Artides of Assodatlon. In the event of the company being wound up. members guarantee to contrSbute an amount not exceeding £10. Recruitmenl and Appolntment of Trustees The directors of the company are also ch8ritytrustees for the purposes of ¢harlty18w. The numbwof trustees shall not bg more than iwelve or less than Ihrfje. Th? tharity may by ordlnary resolution appoint a person who is willing lo be a Iruslee and may also determine Ihe rotation in whlch any addllional trustees are lo retire. Meellngs tske plac8 four times a year. with an Annual General Meeting held in the summer. There is an ongoing programme* of trustee strategy meeiings to discuss and set the eharity's effeciven8ss. goals. alms and purpose. Guidance and training are 81s0 given to promote Understandi￿ of Charfty Govemance and specific issues related to the Charity and its work. The range of trustees is intended to reflect Fine Cell Wo￿.$ own blend of needs incorporatlng experience of prlsons and understanding of rehabilitation issues. safeguarijing, worklng with volunteers. fundraisng. marketing, communlcallons. Me￿handl$1nQ. product deslgn, textile pro(luction and knowledge of Interior design and Its commercial aspects relevant to establishing an effective business profile for the charfty. Two trustees stepped down in the year 68ch havlng given many y8ars of loyal support enabling us lo ￿¢ruit thre8 new trustees with spe¢ifi¢ Skills lo support the growlh of the charlty. FINE CELL WORK (LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 318T DECEMBER 2025 None of the trustees has any beneficial interest in the ojmpany. Two Trustees had transactions Ylth the company which are set out in note 19 to the accounts. The trustees. who are also the directors for the purpose of ￿)MpanY law, and who served during the year were.. Jennwer Rademaker (Chair) April Birtsvhisde Jullan Dlment Elizabeth Downlng {appointed 4 March 20251 Tabllha Elw&s Annabel Franks (appointed 4 March 2025) Kit Kemp MBE Miranda Kendall (resigned as Vice Chair and Trustee 17 June 2025> Nick M¢)ore18ppolnled Vlce Chair 17 June 20251 Jane Mulvagh Andrew Murray (resigned as Treasur8r and Trustee 17 June 20251 Cathy Robinson Elizabeth Rose (Treasurer appointed 17 June 2025) Recrultment and Appolntment of the Board Advisory Group Involving our service users at Board level is essential bul many of the people we work wtth, due to the nature of their offending, are not eligible to sll on a Board of Trustees of a charity. To involve Iwed experience at board level, Fine C&ll Work established 8 Boaril Advisory Group18AG} in 2023. It n¢)w comprises four current or graduate prison4eaver5 on our posl-release programme Iwho we refer to a5 appienticesl. and meets quarterfy with the Chair, Executive Director, Dlrector of Programrnes and revolving Trustses. The BAG has enabled th8 charity to tap into a larger and more diverse populalon f service users than we could have achSeved with a trustee apw)intment. BAG insights have shaped programme Improvemen15. enhanced our Communicatic￿s￿11h service users. and deepened organi5alional understanding of posl-release challènges. Davalopmont Board A Development Board was set up this year In Q3 under the chalrmanship of Miranda Kendall lo support broadening fundralslng opportunities and sales events nationwide. Through Ihls new Inrtlative events are planned for 2026 and for our 3￿88r celebrat1￿$ in 2027. Staff Fine Cell Work {FCW} is run by Ihe Executive Diredor supported by the senior management team comprised of the Founding Director, Flnance Director, Director of Programmes and the Development Manager. The senlor management team is supported by a pemianenL full-ume staff of eleven and c¥)e part-time stsff memberwthing three days a week giving the charity a fu114ime equlvalent of 16 employees. The Directors. salaries are delemiined by the ￿SteeS wlth refèrence to market rates and the financial resources of the charity and reviewe(i annually. FINE CELL WORK IUMITED BY GUARANTEEI TRUSTEES. REPORT ICONTINUED} FOR THE YEAR ENDED 31ST DECEMBER 2025 Volunteers The small ratio of FCW stsff lo prisoners and prison leavets was supported by essential acti￿tieS of our volunteer team teachlng in prSsons and In the Clolhworkers Studio in Batt8rs8a {the Studio), mentoring, supporting producllon and commisslons. delivering workshops, helping with adminlslrallon and deslgn, promoting our work, helping at sales events across the county. supporting fund and profile raislng events. and manning the Blithfield Kenslngton pop-up shop, EXECUTIVE SUMMARY As a charity working in crfmlnal lusttce for 28 yea￿, FCW has supported over 8.6￿ ￿Ople in prfson and, slnce launching our posl-releaso support programme Open the Gate IOTGI eight years ago, 118 prfson avers. Our vast experience in providing our In-prison programme$ nationally means we ar8 wdl placed to deliver signfficant oulcomes against a backdrop of scarce access to purposeful acuvlty in prison. The Bromley Brtefings. a hlghly respected publlcatlon by the Prison Refom Twsl, In January 2026 reported a significant deterioration across key measures of safety, purposèful activlty. use of force, and overall performance in prisons in England and Wales. Three quarters of insp8cted establishments were Tate(I poor or not 5ufficienlJy good at providlng purposeful activity. For an activity delivered In prison lo bg deemed purposeful,11 must: Address prisoners, risks or needs related lo their risks of reoffending or a personal resettlement oblecllve Enhance Per￿81 wellbeing, both physical and mèntsl Enhance interpersonal. swal or life skills which indudes building confidence and the capability to engage in the regime Our programmes d81ivered positive outcomes across all requirements., FCW 18 the only charity delivering regular. purposeful, paid activity lo people in thglr ￿11$ on a large scale. Our growing partnership with His Majesty's Prison and Probation Service IHMPPS) is key to ourconllnued success deliverlng and building our work in prisons. Balancing Demand wlth Impact As a trusted partner in the prison estste. demand for our programmes bs high. In the last 18 months we received 33 enquiries from prisons nationally for our in-cell programme. significanly ex¢6edlng our capacity to open new groups. To build capaclty to facllllats growth, we rdlionalised our engagements to ensure we are working in prisons where we have Ihe greatest impacL The outcomes that come from stitching ￿ FCW- IncludSng Increased selfmonlh, 6-month. end of engagement} allowing us to keep track of changes In areas such as confidence, motivallon, sense of belonging. mental health, opfjmbsm, crealivlty, responsibllity and accountabillty. We also record pracllcal Ou1￿Me5 including engagement levds. progression into Irdining, volunteering employment, alongslde attèndance and retention. In addition, we capture personal stories. feedback and case studies whlch help demonslrdle the wider Impact of the piogramme cffl Iden￿ty. social x*nn8clion. stsblllty, and when possible. desistsnce from offendlng. Whllsl resettlement, sglf48velopment. and de5iStance are not Ilnear Pr￿eSSeS and 5elba¢ks are not uncommon, our apprentices report. at regular intervals, Increases thelr sense of communlty, confidence. molivalion, creativity as a positive Co￿ng mechanism, and accountability. These Increases natuially support an increase In Ihelr general sense of wellbeSng. Coupled with progresslt)n into paid employment, volunteering, or further Ir8ining, we can reasonably surmise that these outcomes can and do support desistance and reduced r8off8nding. Volunt••rs Te8¢hlng In Prison 'FCWdoesn tiusl change the lives of the shtcherJ in prtsons but has &niiched ourlNes enonnously too - not something l expectedl- Fine Cell Work volunteer on le8chlng In pdson In 2025. we Introduced a Volunteer Survey. Respondents We￿ asked forlhelrvlews on a numberofelemenls of their work including motivation. training, safety. and volunteer support. Important￿, volunteers reported feeling valued by the organisalion, piepared for. and safe in. thelr work. The survey, which wlll be dislribut8d annually. is a valuable tool to understand the Fine Cell Work volunteering experlence. HOW WE FUND OUR WORK FCW is unlike many other criminal justice charities who are more closely Iled lo statutory commisslonlng wilh much of Ihelf Income coming from govemment contracts and lighly sp8clfied service agreements. We ar8 almost lotslly reliant on trddlng and fundralslng to run Ihe charfty- Our income breaks down as follows.. 26•h from the sale of our stitchers work 20A from prisons where we deliver groups 43*A from grants from trus15 and foundations 280h from major donors. corporate support and Indlvldual glvlng 1°h from Interest income 16 FINE CELL WORK (LIMITED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31sf DECEMBER 2025 Tho Soclal Entsrpriso In 2025. eamed InC￿e from charitable activileswas £382,987, up 5.5% inwme from Ihis source in 2024. This income is broken down into Income from the sale oflhe prfson-made products and inwme from prisons paying a nominal fee per place in each cell group. Income from sales was £351.737. an increase of 8% on the previous year. Income derived from the prisons where FCW deliv￿5 its services was £31.250. This total is in line wllh th& Increased Income we have received from prlsons in the last years after better information flow was established to Onal￿e the charity to work more effectivety wth prisors acG¢unting pracllc8s. Sales by Channel Tradlng Income In the year continued Its steady incmse of the last three years with growlh acr055 several categories. most notsbly gfftware. retsil partnerships and bespoke commlsslons. Sales of embroid8r8d cushSons Continued the trend of the last several years accounting for thirds of cushlon sales with needlepolnl Cushions the flnal Ihtrd. Cvstomisation of our Gushions is in¢reasingly popular increasing 11% cn the prevlous year. Cor• Product Sales- (Sales of all FCW prodLJcls less bespoke commissions) accounted for over80% of ¢wr overall tradSng Income. With over 10% of income from new products, there were 30 launched which included products made in our wom¢n'$ pnson workshtsp and new design collaborations wilh Blithfield, a new partnershlp with renowned artist Margit Wittig, and a new collaboraugn with The William Morris Society. The Success of our annual Christmas bear continues lo gamer int&resl from ¢uslomers. We increased our production run ofthe 2025 Stocking Bear by 33% raising over £8k from sa16s. This was up nearly 40% from sales of the 2024 Baklng Bear. Online sales as a % of trading 2019-2025 400000 350000 300000 250000 200C)00 150000 iooooo SDCMY) 2019 2020 2021 2022 2023 2024 2025 Total Sales Online Sales Event Sales 17 FINE CELL WORK IUMITED BY GUARANTEEI TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31S7 DECEMBER 2025 Onllne Salas - aeeA)unled for 53% of sales and oulperformed 2024 by 2.2%. Whilst thls was credibl8, 11 was disappointing after the 8% growth In 2024 on the previou5 year. Slower growth in online sales was due to: a senior staff change in th8 sales team in the run-up to the fesllve season. online orders from the US market having to be paused 89 changes in the way tarfffs were pald was dealt with by Royal Mail. Given our size, we were low on Royal Mail's priority list. meaning US orders were paused from late August lo lole December. Allhovgh accounting for a small portion of thé online budget, this resulied in a loss of approximately £10,000 (based on 2024 figures). Cushion sales online increased by 5% fuelled by better availability which allowed for a more concis8 marketlng plan, tsrgeting lop selllng it8ms. and having enough products lo sustain customer demand. Similady. a higher avallabllityof small items allowed a piomotional focus more on the'enlry level, pri¢8 points resulted in a 10% increase in small items sold onllne. Point.of.Sal• - sales from events around the c¢JJntry allows us to show¢a$e the work of the stitGhers lo enable customers to appreciate the beaulrful design, stitching and colourways. These eV￿ts not only provid8 sales opportunities. they broaden our customer base and build the polenllal for futur8 online sales. Events raised 21% of income from sales with tsyo large country sales, one In Wlllshire and a second in KenL and a number of smaller events including notable tabletop sales at Ihe Goldsmiths LNèry Comp8ny and the Minlsty of Juslice. Bespoke Commi$slon$ - income from Ihls source incraased 60% on 2024 provldlng 15% of our trading income. This year featured a wde variety of commlsslon projects, including,. dellvering a signiflcant heritage commlsslon In partnership with Charleston House comprising of four needlepolnl fa￿lmileS inspired by pieces from their historic collection. Iwo eccleslasucal commission5 for large needlepolnl altsr font kneelers were compl8t8d, one for a church in London and another for a church in the US iwo major arNvorks for the celebrated contemporary artist. Comella Parker,. from her 'Opposites' colletttion whlch compdsed of stitched text visible from both the front and the back. These pieces were created for the Govemmenl Art Collection. supplw'ng bespoke hand-slllched embroidery products lo the Royal Household. Our on-going. long-standing relationship allowed us to apply for Royal Vvarrant which, if awarded, will give recognition and prestige lo our S￿l¢her$ for Iheir work. Our relatlon8hlp wlth Rotsllers - parbcularly Royal Hospital Chelsea and Mouseklns, r8lsed 4% of income wllh sales outperforming the previous year by 27•k. We also saw the relum of a longstandlng parlnership with UK Anl8rctic Herflage Trust, with an order for 200 emperor penguins which were produced in our prison w¢Jrkshops before makSng thelr way lo Antsrctica. Developing retail partnershlps Is Important to us as the volume orders support building our production capadty In pri￿ workshops. To support our In-prison and Studio productoon, the charity cOn￿nueS lo build awareness of the c¢)portunities In the marketplace. building relationships with SU￿esSful designers and artists to develop a unde range of deslrable products and lden￿fy opportunities for commissions. It is important that FCW products appeal to our growing customer base. not only for the income trmjt so the work of our slilcheTs remains meanlngful. 18 FINE CELL WORK ILIMITEO BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 318T DECEMBER 2025 Fundraising from Grants In 2025 Fine Cell Work received £596,585 in grants from Tru515 and Fwndalions. As our largest funding stream, we are enom)ously grateful to the funders listed below- both those who are longstanding supporters providing multi-year granls, as well as those who donate annually. and the new grant funders who have placed their trust In our work.. Our ongolng, multl-year funders the Adrian Swire, Considered Ask and Aurum Trusts, the CHK Foundation, City Bridge Trust. Drapers Charitsble Fund. Garfield Weston Foundation, Philip King Trust, MIVA. Rothschild and Henry Smith Foundallons and the Eleanor Rathbone Ttusl Our generous annual funders the Aldo Trust, the Broderers Charity Fund. the Ancasler Trust. Taurus Foundation and the Michael Varah Memorlal Fund Th& John Armitage Charitable Trust and the Colyer Ferguson Trust, who gave new rnulli•year grants Awards for All, the WA Cadbury Trust, the Cedars House TTUSI, the Evan Cornish Foundation. the Goldsmiths Foundation. th& H8dley Trusl, the Inner London Poof Box, Lord Bambys Foundats'on. the Faringdon Trust, the McGr8th Trusl. the Merchant Taylors Foundation an¢J the Needlemakers Charity Fund, all of whom pledged on8-ygar grants Major Donor, Corporate and Indlvidual Fundraising The total raised from malor donors and Gorporates in 2025 was £385.559. a 25% i￿reaSe on 2024 and a refiection of the success of our strategy to diversKy fundralslng. The Nvo largest contributions lo thls total were£76,WO from a major donor supportervia thelrweallh manager as in previous years and nearly£80,000 ralsed from 184 donors via The Annual Blg Glve Christmas Challenge Appeal. The 2025Appeal raised neady double the amount ralsed through our Appeal in 2024 as, thanks to th8 generoslty of the De Laszlo FoLrndation and matched fundlng from the Reed Educational TrusL w8 had set a more ambitious target. We wntinue lo build our relationships with both new and exL£ting donors and lo this end held hvo events.. a discussion evening wllh Nazanin Zaghari-Ralcliffe refiectlng on the importance of stitching during her Incarcerati￿ in Iran. and a dinner klndly hosted by our Trustee Kit Kemp wth a speaker Irom HMPPS. Both ev8nts were hI￿lY effective In cu11N8￿ng new donors. In collaboration with our supporter. th8 Brothers Trust, w8 created a work of art 'Swallows in Flighf Ythich was aucthoned at a special event at ChriS￿e$ with the £30,000 raised lo support FCW. We thank the Trust for both this uniq￿, generous lundraising opportunity and for their c￿gOIng SUPFKSrt FCW Champions, our regular glving campaign. raised over £20,050 durlng the year. Dc*)ations rangad from £5 a month lo £2,000 per annum. from 68 dSfferenl donors. To help shape strategy and focus for our donor fundraising, a separate Development Board was established during the year which alms lo support fundraising inlllatives and broaden our fea¢h in a challenging fundraislng landscape. 19 FINE CELL WORK {UMITED BY GUARANTEE) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31- DECEMBER 2025 HOW WE COMMUNICATE with Our Stakeholdors Stltchers in Cell Groups Communicating with people in prison Is constrained. so keeping our sJlchers infomied and enpaed wlth the der FCW communlty Is a priority and key to the succ6ss of our programmes. FCW volunte8Ts visiting prison to leach the slitthers fortniuthtly provide regular Conta￿ and the chance lo relay feèdback from our central pro9rammes and production teams. However. it is also important that there is regular contsct for the sotchers directty from the producb.on team who provide kits. feedback. payment and connec*on to the V*ider comrnunity. FCWS productv)n team communicates with our stitchers through: Comprehenslv8 kit in$lruction5 and stitching guldes Written feedback glven for each completed hand-slit¢hed plece retumed lo the office Payment for the work when il is returned from the office Including bonuses for excellent work Forwarded letters from Customers lo the individual slllchers Visits to cell groups, explaining instructions in person or helping wlth slltchlng. partI￿19￿Y in groups that nèed more support Our 40-page magazine Stitch Up publlshed bi-annually, updatlng slltchers on thg ¢harity and the world of textiles and including contribullons from our stitchers and apprenllces Annual stitcher awards 8n¢J a personallsgd letter from the Executive Director The FCW prograrnmes team communicAteswth our stitchers primarily via Ihe volunteers with someone from that team visiling each group at least tsylce a year lo encourage personal inleradon. connect*)n with the ch8rfty and address any logislical issues Wlth the group. In•rl8on Work$hop Stltchgrs Thei8 is significantty more Snl8raclion the workshop workfor(* wKh both FCW and prison stsff In attendance to provlde Instru¢Uon and feedback. Whilst FCW staff run the workshop in HMP Send, there are al least weekly vists from FCW staff to the workshop in HMP Llttlehey lo provide speciallsl teaching, encouragom8nt and troubleshooting any Issues. Tho instructors in this workshop are In daily contact with FCW producllon stsff lo provlde advlce and ClarIfica￿on for regular communication wllh the workforce. Written ccqnmunlGation with the workshop stllchers indud8s.' Instrucllon in Produd Specifi¢ation files, explaining how lo make each product Monthly bonus payments lo reward produCti￿ty and skill Annual awards presented in a special ceremony Forwarding letters to the workshop as a collective group Our bi-annual Ststch Up magazine OTG Appréntlces As regular attendees in the Studio, there are numerous opportunities to communicate wlth the apprenti￿s. There is a designated Engagement and Support Officer who supports the apprentices by providlng guidance and plaC￿cal advKe. communicating with each aFprentlce In regular catchups. 20 FINE CELL WORK (LIMITED BY GUARANTEEI TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31ST DECEMBER 2025 In the workslyjp and warehouse there is rew18r contact and supervlsion wllh both FCW spedalSst slaff and volunteers providing One￿n￿ne training and e￿urageTrent. Quartedy'seNice user involvemenl meetings. wlth the workshop staff team provide a forum for apprenlices lo develop and shape the $8rvice we provide and provide a platform for communlcalion ¢)n the wider (Yganisauon. Formal graduation ceremonies for each apprentl¢e who completes the OTG programme give an opportunlty for the Executive Director and the Workshop Manager to give poslt5v8 feedbad( and celebrats the 5￿fiC contribution and development ofthe graduate. A ¢e￿￿¢ate of achiev8m8nt and a letter providing a reference for future employmenl or volunteering opportunlties Is presenled to each graduate al their ceremony. All those who were involved wSlh OTG throughout ihe 2025 came together in December to celebrate the achievements of Ihe year. This Is a vltsl community bullding evenl in the OTG calendar. Prfson Partnors With each prison we work in, we have a designated contact for FCWS programmes team. While m¢$t communlcauons are eilh8r by phone or Teams, In-person meebngs with our HMPPS contacts are organised to coinclde with staff visits lo the prlson. Our partners In HMPPS also receive Stitch Up lo Infomi them on the widgr activities of Ihe charity. Annual progress report5 on Ihe Duty)uts from the prison groups 8re sent lo the respective prison Goveming Governors, the senior management team and our dedicated prison contscl in each prison we work in. Thls provides valuable 5tstistics the prlson con use in their reporting to evid8n￿ purposeful work and posStivg outcornes. Prison Staff Awards are presented annually to prlson contacts to acknowle(*e exceptlonal supporL Certificates are sent to Governing Govemors for distribution to draw attention to the support offered by 8peclffic staff. In recognitlon of the hlgh quality of txjr work In prison. our Wandsworth Prison Cushion took pride of pla on Lord Timpson's sofa in an Interview with the Prison's Minister for 'The fimes MagaJne'. Awareness of our unique provlsion of purposefvl activity was frJrther ernbedded wllhln the Ministy of Justice {MoJl when we were fealuied on their inlranel and given further credibility through a MOJ post on Linkedln. We were Included in the MOJ Christma5 Falr which faolitaled a number of USe*ful wnversation5 and intrc*lucllons lo key members of MOJ staff. To support OTG, in the year we focused on building closer ties with Probation to both recruit and suppcrt people po$l•release. Voluntqors Worklng nationally rneans we need lo ensure that we communicate wth our volunteers in a v8rlety of ways to bulld ¢(￿nectiOn and induslon wth FCW staff and the volunteer team. From theoulsel. we re¢ruit voluntsers using a national r8cruitrnent plaff¢xm alongslde locallobs boards, local stitching groups and guilds, through our website ond social me(ila platfomis. When we onboard volunteers, there are a number of ways in whlch we communicate with those either planning lo teach in prison or volunteer in the Studio- All volunteerswho work alongslde either people in pri50n or prlson le8v8rs receive safeguardlng trainin9 and ongoing supervlslon. 21 FINE CELL WORK IUMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31ST DECEMBER 2025 Online or. where possible. in-person, initial Iralnlng Is facllllated by our programmes and production teams and lakes place with groups over the course of a half day. It includes information on the origins of the organisation. an introdLKtion lo the criminal justice system and the context of our work. group (Jynamics and boundarfes, stttching standards and administrallon and organisalion requlred to sustain a successful cell group. Monthly online informallon sessions led and attended by volunteers respond to the need we identified for peer-led spaces. They facilitate the exchange of knowledge and sk1115 between long-standlng and new volunteers. Vclunteer Reflective Practice sessions, fadlllated onllne by the programrnes 18am, brings varied groups of 6 10 16 volunteer5 together from across our nelwork lo think about how they approach their practlce and what their volunteering means to them. They are encouraged lo rellect on both the challenges and successes of Ihelr roles. Volunteero. a vdunteer management System (VMS) and app deS￿ne￿ to help Gharltigs r￿rUIt, onboard, schedule, and communicate wlh their volunteers, was rolled out al the beginning of the year and improved the Information flow with our voluntsers leachlng in priw and the FCW staff team. Indivlt1ual c(Mnmunication with volunteers is p￿marIlY via email, addTessing S￿lfie production requlrements of Ihelr group. When the programme andlor production staff visits groups aiound the county, a report is made of observations on group facilitallon, leaching and quality control lo see what, If any. turther support is needed. To build cur volunteers. engagement wlth FCW, monthly newsletters sh8re C￿anIs8￿0nal updates. impacL good news Stories ar￿ examples of best practice. Once a year, our volunteers come together to celebrate their achievements at our annual volunt88r lunch. In 2025, over 50 volunteers from around the county 8ttended this event al the Sludio. 3rd Sector Organlrjatlons We belong lo CLINKS and The Corbett Ne￿Ork which allows us to share experiences and be51 practice wlth other organisations working In prbson and supporting prison4eavers. The FCW senior m8nagernent team and fron14ine staff attended sector conferences and webinars throughoutthe yearto bulld knowledge oflhe sector and share best practice. To explore parlnership opportunities wSlhln the sector. we hosted indiwdual charities supporting people post- release al the Studio Ihroughovt the year. Thls year marked the 50th anniversary of Prisons Week. Our Execuove Director was invited lo give The Annual Prison5' Week Lecture hosted by The Liverpool Dlocesan Council for Swial ￿'d on the rehabilitatlve benefrts of FCWS programmes. Hosted in the magnlficenl Liverpool Cathedral. il gave a good opportunlty to share our work wllh a large audience of people ellher working in criminal justice or with an Inleyest in social justice. Being partof the Justice forAII lecluw series al the Old Bailey allowed us lo introduce a number of delegates to FCW. The series was wi¢Jely attenéed by sector colleagues and represented an Snvaluablo opportunity lo raise the profile of the organisatM)n. 22 FINE CELL WORK (LIMITED BY GUARANTEEI TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31- DECEMBER 2025 With Customers, Donors and Supporters Evgnts Events continue to provide us wllh opportunities to raise profile In Ihe sector by showcasing our work. speaking to new audiences around the country about FCW and shifting public opinion about what Can be ad)leved by people In prfson. Our first event of the year-"Nozanln Zaghwi4atclrfe in convgrsalit)n wthiournalist Cathy Newm8n'°was in front of a sold-out of audience of 250 people. Nazanin spoke about how sli1thSng has hèlped her both In prison and since she's been released. Our eoll8boralion wlh The Royal Hospital Chelsea was featured on the BBC News and in 'The Tin7es' fwusing on the cushions we made from the distinctiv8 scarfet coals that were prominenuy displayed on the gold medal-wnning Chelsea Pensioners, Garden al the Chebea Flower Show this year. FCWS 'Coll QUHI,, that represents the dimensions aThJ contents of a tsvwerson prlson cell in stitch. was exhitmted in the British Library's exhibitlon entilled'SecretMaps'. Wrth a footfall of ov8r45,000, the exhibition allowed us to i￿reaSe awat8n8ss of our work to a very wlde audience. A stand at the annual Festlv81 of Qullts In Birmingham gave us th8 Opportunity to tell the sw of our work in prisons to an audie￿0 well versed in the benefits of cre8tSvOty and sb"tching. Working in collaboration with the V&A's Creab've Resident for Ceramics, Clara Ngufeldt, our apprenbces created fjles Ihot dad the Make 8 Msh fountaln. Thls athork forms central part of a ye8r4ong exhibition prominently positioned in the V&A. Onllne Newsl•tt•r Wo mainlaln a ¢￿SiStent programme of weekly ema51 rw4sletters to a subsrAiber base of drca.12.000, delNering over 60 campaigns across the year. Engagement remains strong, with open rates averaging around 48% and dick-through rates just Over 4%. signnlcantly above sector benchmarks. Ernail continue5 to play a central role in driving e-commerce perfomiance, generallng £261.000 in altributed revenue in 2025 for both sales and donallons. on inc¥ease on revenue of £252,000 achi8v8d in 2024. Campaigns balance produc14ed m8ssaging with storytelling that highlights the skill, ¢￿al1vity and impact of cur slltchers. work. Email also Supports wider organi5alional objectives, Ilke Ihg Big Give campalgn, and helps brfng lo Ilfe the stories of our 51ilchers, apprenllces and volunteers to deepen engagemenl wSlh our audience. Soclal Media In 2025. our ￿31 media presence conllnued to grow. w(Ih Instagram remalning our strongest ant1 most engaged platfomi. Over the course of the year, our Instagram communlty grew by 1¢yh. reachlng 17.620 followers by December 2025. This growth was driven by a more strategic content approach. stronger visual storytelling. and a conllnued focus on audience engagemenL Video4ed conlenl perfomied parbcularfy well, with several reels achlevlng slgnrficanlly abov&aver8ge reach and Interactlon. helplng Introduce FCW lo new audl8nces whlle dgeponing engagement with our exlsllng community. 23 FINE CELL WORK (LIMITED BY GUARANTEE} TRUSTEes' REPORT {CONTINUED) FOR THE YEAR ENDED 31- DECEMBER 2025 Alongside Inslagram. we malntsln an acllve presence across Facebook. Llnkedln, X. and TikTok. enabling us to broaden awareness of our wort, share our social impact. and connect wlth dlveT¥e audiences 8cross multiple channéls. Our soclal content provides a 360-degre8 VFew of the charity throughout the yeor, balanting commerc181 aclivlty wllh storytelllng that raises awareness of our work and programmes, supports fundraising, helps recruit staff and volunteers, and $hines a Ilghl on the loumeys of the p￿P1a we support&J In pTSson and bey¢)nd. Wobsit• 2025 Our website plays a ￿ts1 role as both a commercAal pl8tfom and 8 key communlcations hub, helplng us engage with a broad rang8 of audiences includlng customers, donors. supwlers. volunteers, referral parthers, and people leaving prison. One of the most signltlcant developments Ihls year was th8 launch of a dedicated onlbne sectlon for prison leavers and referral partners which was sugg8sted and overseen by ihe Board Advisory Group. A¢￿SIble direcljy from the main websSte navlgallon, thls new area was created to make FCWS OTG programffle easier lo ac¢ess and un(ier5tand. It provides Clear information on eligibility, the application procéss, and whal indlvlduals can expect from the programme. alongside both digllal and printable applicabon forms to help remove barriers to access. To further supwrt Individuals transitionlng back Into the C￿￿MunIty. again at the instigation of Ihe Board Advisory Group. we introduced a dedicated wellbelng resource offerfng practical guldance, wellbeing advlce, and slgnposling to extemal organisations that can provide additional mentsl health and resetuemènl support. In addition, a newgraduate stories section was launched lo share the experien¢esof programme participants, helping bring the impact of OTG lo life through ￿81 stories and outcomes. Alongslde supporttng 8ervlck users. thg website contbnues to play an Importanl role in engaging donors, frJnder5, volunteers. and wider supporters. Through Impact-led slftyelling. campalgn pages, news updates. and programme contenl. the webslte communicates the breadth of our work, builds Irusl wSth supporters. and encourages donations. volunteering. and long-lgrm engagement ¥wth Ihe charlty. FrLWll a commerclal perspective. the website also contlnues lo evofve as a stronger trcommerce plafft)Tm. Pr(KJuct pages were enhanced with complementary product recomwnendalions. helping customers discover related products. improvlng uoss-selling opportunities, and support(ng increased basket value. Throughout the year. the website remalned a central plarform for showcasing new collecbons, partnerships. campaigns, and events- ensuring visitors gain 8 full understanding of both Fine Cell Work's products and purpose. FUTURE AREAS OF FOCUS Strategy The current five-year btjsiness plan comes lo an end in 2026. Taking the leamlng from these post-covid years and mindful of the evolving capaclty sllualion in prisons ohead of new prisons openlng al Ihe ond of the decade, we have agreed wllh the Board that we should restrict our planning lo three years hence. The 2027 - 2029 Strategic Plan will be developed during 2026 with sign-off al the September 2026 Board meeting. 24 FINE CELL WORK IUMITED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) ST FOR THE YEAR ENDED 31 DECEMBER 2025 The plan will fo￿5 on three key pillars- Growih at a sustainable rate: For cell groups.. lo balance availability of wot1( our slltGhers and our ability to sell what is produced. our plan is for stitcher numbers over 2027 to 2029 to grow approximately 200A on the 2025 total Focus growth on prisons in the women's estate and openlng rthy groups in men's prisons Wlth settled populations wher8 we have an exisling group with long wait lists For in-prison workshops: estsbllsh a naw workshop to build productfjon reslllence by reduclng our reliance on the workshop in HMP knttlehey for the majority of our machining grow our workshop workforce by 2SVo over the tenure of the plan For OTG.. Support 30 prison-leavers each year Develop a remote support programme lo provido assistance post-release lo our stitchers not released lo the Southeasl Diverslfylng preéominantly by.. working wlth more woman in prison revie%￿n9 fundlng sources to improve our abillty to better navigate external challenges includSng economic downturns and Increases lo supply costs. broaderblng ourtarget euslomer segments and product ranges to attract new customers and furth&r penelrale existing markets Demonstrating by quantifying our impact transforming abslra¢l outcome5 into hard metrics by broadening our current evaluation to indude.. Social value Mental health Flnancl81 resS1ience The So¢lal Enterpriso Key lo our capacity to grow stitcher numbers Is the growth of the $o¢ial entèrprlse. To support Ihls growth we plan lo- Host sales events around the country which are an 8ffective way of building our ne￿orkS and custom8r base which in lum lead to growth in online sales. In 2026, we will organise four or five events in different parts of the country focusing parb'cularly on the Northeast and Northwest of England where we have a large concenlration of slil¢hers with groups opened Sn two prisons new lo FCW in the last 18 months. Explore corporate gifting. The light margins we have on all our products make il difficult to offer significant discounts to relallers. Our current retail partnerships 8c¢epl lower mark ups from producls we supply. 11 can be challenging to develop new retail relalionshlps lo scale. Instead, as we grow our corporate partnershlps lo support the wider organlsatlon. we will focus on building corporate glftlng to buSld sales. Encourage a younger demographic of CLtslomers, working with new and emerging design and art151ic tslent to attract young. design-aware customers. Establish a more systematlc process foi product development, creating a product range plan of existing deslgns lo identify ar8as of overfap and areas of opportunity for new ranges. Fundraislng Our success in diversifying our Sncomg streams has led to a number of new relationshlps and partnershlps. This needs to Con￿nUe In an increasingly competitive fundraising envlronmenl. For trusts and foundations. in a year where mulli-year grants come lo an end, securing new multi-year grants from both new and existing donors Is Crwial. 25 FINE CELL WORK {LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31ST DECEMBER 2025 We ar8 keen lo encourage opportunlUes for events and will plan 30-year celebrat1r￿S in 2027 to optimisg fundraising opportunities by- organising events to engage our loyal, longstanding supporters partnering with successful artists and desi9ner$ to create artworks for sale wth all proceed$ goSng lo the eharity Identifying tspportunllles to encourage donors and supporters outside of our usual demographics Supportlng Ihg Staff Team Working wlth people in prison and post-release requlres the stsff team to have a pO￿lIve mbndset and the determination to ins￿1 hope, self*eli8f and the tools Ic> empower our b8n8ficiaries to build a lulure away from crfme. FCW has 8 loyol. harO￿orkIng. enlerpdslng staff leam, with nearly 40% of the stsff having worked with us for al least seven years. With a small stsff team WOTking lor a charity with a national reach. covering a broad range of expertise lo undertake a multitud8 Df interrelated speuallsl activllles, we prioritise 5UPPOrt of th8 team by organising OPPDrtunilies lo build resilience. wellbelng, teamwork and professlonal development. Thi$ year, we provlded support for fronlline stsff with individual professional ext8rnal supervision. We Introduced monthly group RefleG1ive Practice for the m8nagemenl team supervised by a professional psychologist. The ongoing 'buddy system,, which gives each member of the team a buddy from 8 wlder team to support each other and tske 'buddy walks, together. Supports improved wellbeing, empathy and CompaS￿on wilhln the team. Each mcnth. dIffe￿nt members of the stsff team cook and serve a commullity lunch fcy staff, apprentices. and volunteers to bulld on the sense of community in the Studio. With financlal resour￿$. we are deVelo￿.ng new ways of working lo 81*1ress touch points that impact the wlder organisalion to help the staff team work more efficiently and effe¢￿'velY together. We wlll ￿VIeW how each le8m fiJn¢tion$ as a unit and what operational limitations ihey are dealing with., to identify ways we can use small addllional lunding lo buil(1 capacity for significant impact. With more streamlined p￿eSseS. we a￿ ereating operatlonal capaclty to support more people in prfsc4). PRINCIPLE RISKS AND UNCERTAINTIES Using a comprehensfve Risk Register. the Trustees regularly 85sess the major risks lo which the ch8rtty is exposed and Ihe systems established to manage and mlllgale Ihose risks. Key areas that undergo risk assessment are eurrenlly threats to revenue, working in the community. WOTklng in prisons {parbculady with the current staff shortages across the estate and Ihe prison capacity restr8ints}. st8ff-r8laled risks and IT Infrastructure dsks. The risk of a drop In exlemal funding is mitigat8d by a strategic plan to increase FCW'S sustainability through product sales. new funding sources and Increased fundlng resources. The reserves pollcy soeks lo retain sufficient fvnds lo cover any short-term fijnding losses. Inlemal control rfsks are minimlsed by procedures for the authorisalion of transactions and prdects. Rlsk with th& OTG post-release programme Is mltigaled by building relalionships with Probatlon and other organisatic￿$ working with prison leavers and the supkvrt of a tru$lee who has many years, exp8ri8nce working in prison and In HMPPS providlng expertise and kno￿edge lo both the Board and the senior management team. 26 FINE CELL WORK (UMITEO BY GUARANTEE) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31￿ DECEM8ER 2025 The rtsk to volunteers working in prisons Is mitigated by ongolng and increaslng trair)ing by FCW staff and exlemal professionals lo enhance thelr reslllence and knowl8dg8. and also by working wth pAsons lo ensure a safe envlronmenl for our volunteers. The slraln on prfson ￿paCity drives high4evels of and frequent ehangès to prison and probation policies and increased prfsoner movement wllhin the estate. Currendy stsffing levels of front-Iln8 prfson and probation officers Is of concem as Ihis could affect prisons. abllty lo accommod8te our vc4unt*rs and actiwlies. This 15 mitigated by worklng wlth our partners in HMPPS, the trustees. professionols in thè field and other prlson charities to ensure an understanding of the overall prlson environment. In order to be mole embedded Sn the prison estate. we conllnued lo build a closer working relalionshlp with HMPPS. Staff risks relate to the relenlicffl of key members of stsff, Staff ￿rUItment and stsff safety. To mllMJale these risks. salary reviews. bullding stsff re5ilien¢8. encouraging and supporting staff trainlng, and stsiGt policies goveming worklng with prison leavers in the charlty's premSses are in place. Increasing the focus on stsff wellbelng, team building and personal development has agaln been a feature of the year, and this will bo builton and continue in thJtufe. Organlsallonal reviews lake place regularfy to ensure thatthe most approprfalg Staff structure is in plac£ to support the work of Ihe eharity and the reslllence of team members. IT infrastructure rlsk assessment covers key datsbases. suth as our supporter database and Informall¢Jn on the server and includes baCk￿P protocols lo recover and restore lost data should any loss occur. FCW'S Emplo￿5 Liability, Public ￿ability. sto¢k. buildings. office contents, lerforism and business interruption insurance poliues ftjrther minimise the financAal risk5 to the charlty. The charity has appropriate health and safety and safe￿ardIng policies In place. FINANCIAL REVIEW In 2025, FCW'S total incoming resources were £1,376,795 up 4% on the previous year. Donations and grant inwme were up 40A on 2024. Income from the sal8 of prisoner5, ￿rk was up 8% on 2024. RESERVES POLICY The Trustees have estsblished o poli¢y whereby the unreslrlcted funds not commlttod In tangible assets held by the charity should be rnaintained at a level of four to slx months of budgeted expenditure. currently equal tr) £647,808 for six months in general funds. At this level, the Trustees feet they would be able lo conbnue the cuffenl activities ofthe charity in the eventof a significant drop in funding or otherchanged ¢i￿um$￿n￿S. 11 remabns a core aim to bull(J and maintain FCW'S unrestricted re8erve8 al Ihls level. At the end of 2024, FCW parllcipaled In The Big Give lundrdising initiative. Thls ralsed £41,100 and Ihe Trustees have resolved to designate this sum to be used In 2025 to build stitcher numbers in prison. This fun¢J has been released, and the remaining designated funds represent the value of the fixed assets. There is also a $eparale designated reserve equal lo the valu8 of the charit￿$ fixed asset nel btr)k value that is retained. This is in accordance with current best pracllce. Total Teserves al the year end were £817,665 12024 £817.5951 of which £22.882 We￿ restrlcled 12024 £28.0001, £30.281 were designated 12024 £69.048) and £764.502 unrestricted 12024 £720,547}. Fre reserves at year end were £764,S0212024 £720,547}. 27 FINE CELL WORK r the finanryal year for which the finanrial slalements are prepared Is consistent with the financlal statements.. and the Iruslees, report {incorporallng the dlreGtors' report) have been prePa￿d In aco)rdance wllh applicable legal rèquirements. Matters on which w• aT• roqulrod to r•port by exe8ptlon In the light of our knowledge and understsnding of the charjlable company and its envir(￿ment obtalned In the course of the audit, we have not Idenllfied material misstatements In Ihe trustees. rep¢)rt (incorporating the directors, reporti. We have nolhlng lo report in respect of the following matters in rglalS¢M lo which the C¢)mpanles Act 2006 requires us to report lo you rf, in our opinion.. adequate acc>)unting records have not been kept by the tharitable company, fx retums 8dequale for our audil have not been received from branches not visited by us; or Ihe charttable company finanaal statements are not In agreement with thg accounllng records and returns,. or certain disclosures of directQTS' remuneralion specified by law arg not made,. or we have not recewed all the infomialion and explana￿on$ we requlre for our audlt.. or the Trustees were not entitled lo prepare the financial statements Sn accordance with the smajl companies ieglme ant1 tske advantage of the small companies, exemptions In preparing the trust8es' Report and from the requirement lo pr8pare a Strategic Report. Rebponslbllities of th• tru$ts•$ As explained more fulty in the tru5tees' resppnslbllllies statement. Ihe Iruslees (who are also the difectors of the charitable company for the purposes of company law} are responsible for the preparation of the financial sta18ments and for being safjsfled that they giv8 a true and fair vlew, and ffx such Internal control as the trustees determlne is necessary lo enable the preparation offin8naal Ststeff￿nts that are fr& from malerlal mlsstalemenl, whether due lo fraud or error. In preparing the financial stalemfjnts, the trustees are responsibie for assesslng the Charitable companys ability lo continuo as a going concern. dlscr0￿ng, as applicable. matters relaled lo going concern and using the going concem basls of accounting unless the Iruslees either Intend to Ilquidale Ihe Gharltsble company or to cease operations. or have no realistic altemalve bul to do so. 31 FINE CELLWORK {UMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITORS {CONTINUED} TO THE MEMBERS OF FINE CELL WORK Auditorfs responsibllltles for tho oudlt of the Ilnanclal statements Our objectives ale to obtsin reasonable assurance about wheiher the financlal 8tatements as a whole are free from material misstslement. whether due to fraud or error. and to issue an Auditorfs report that indudes ouroplnion. Reasonable assurance is a high level of8s￿rance but Is not a guarantee thatan audilconducted in accordan￿ wbth ISAS {UK) will 3￿y$ detscl a material misstalemenl when it exlsts. Mlsst8lements can arlse from fraud or error and are consldered materlal if. IndiV￿uallY or in the aggregate, th8ycould reasonably be expected lo influence the economic deasions of us8rs taken on th? basis of these finandal slalemenls. Because of the Inherent lim[ta￿onS of an audh, there is a rfsk that we will not delecl all irrogularities. including those leading lo a materfal mi5Statem8nt in the financial ststements OT non-compliance with regul8llon. Thls risk increases the more thatcompliance with a law or 18gula0on is removed from the events and transactions refiectsd In the financlal stslements, as we wlll be less likely to be￿me aware of instances of non- ccfflpliance. The risk Is also greater regardlng irregularities occurrtng due to fraud rather than error, as fraud involves inten11c￿81 conc&almenl, forgery. wllusion, ornissirn or mlsrepresentatlcfft. Th8 SP8cyfic Procedure$ for this engagement that we de5ignod and performed lo delecl malerlal misstslements in respect of irregulartles. induding fraud. were as follows.. Enqulry of managèment and those charged wllh wvernanGe around actual and polentlal Illigallon and daims., Eftquiry of managernenl and those charged wlth govemanco to idenlfy 8ny material Instances of non-compliance ￿th laws and r8gulallon& Reviewing financial statement dSsdo8ures and le5ting to supporting documentation lo ass8SS ccthpIian￿ wilh appllcable laws and regulallons Performing aydlt worf( lo addr&ss the rlsk of Irreguladtles due lo management override of controls, Incluthng testing of loum81 enlries and other adjustments for appropriateness, evaluating the business rationale of significant transac15c￿$ outside Ihe nomi81 course of business and reviewng accc4Jnting estimates for evidence of bla$. A further description of our r85ponsiblllti6s for the audll of the financiol stslements Is Iocoled on the Fin8ncAal Reporting Council's webslte al= www.frc.org.uklèuditorsresponsibilities. Thls description fomis part of our Audilorfs report. Use of Qur raport This reptsrt is made solely lo th8 charitable company's member8, as 8 boty, in accordanca ￿th Chapter 3 of Part 16 of the Companles Act 2006. Our audll work has b88n undertaken so that we might stsle to the charitable company's m8mb8rs those matters we are required to Stale to them in an auditorfs ￿port and for no other purpose. To the fullest exlenl pemiltted by law. we do not accopl ¢X assume r8spc*)sih'lity lo anyone other than the charitable company and the charitable company's members as a body. for our audll work, for Ihis report. or for Ihe opinlons we have fomed. 32 FINE CELL WORK (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDEP￿ AUDITORS {CONTINUED) TOTHE MEMBERS OF FINE CELL INORK Alexander Peal Bsc (H(￿} FCA DChA (Senior Statutory ALKSitor} for and on b8halfof James Cowper Kresion Audlt Z? Dale Apex FO￿￿ry Road Readlng RG1 1AX 33 FINE CELL WORK (LIMITED 8Y GUARANTEEI STATEMENT OF FINANCIAL ACTMTIES (INCORPORATING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025 Un- roslrfctsd Restrlcted Designated FurKIs Funds Funds Nots8 Totsl 2025 Totsl 2024 Income from: Don81ion5 anfl grants Charflable actlvlties Investment income 577,059 382.987 11.664 405,085 981144 381987 945.031 363.049 14.346 Total inc¢me 971.710 405.085 1.371795 1,322,426 Ex nditur• on: Cost of Ralslng Funds Charltable actlvltles Prisoner Training & Support 1TI.014 177,014 202.971 789,508 410,203 1.199.711 1,088.922 Totsl oxp•nditur• 966,522 410.203 1,376.n5 1,291,893 Net incomellexpgndituro} 5,188 15,118) 70 30,533 Transfer betsveen funds 38,967 (38.9671 Fund balances at 1 January 2025 720.347 28.000 69.248 817.595 787.062 Fund balances at 31 Doc•mb•r 2025 764,502 22.882 30,281 817,665 817,595 All acllvllle5 of the Charity are classified 8s contlnulng. There are no other rac￿gnised gains or10s8e8 other than those reported on the Statement of Finan￿81 Activities. The notes on pages 37 to 53 form part of Ihes& accounts. 34 FINE CELL WORK IUMITED BY GUARANTEEI BALANCE SHEET AS AT 31 DECEM8ER2025 2025 2024 Flxod as$ots Tangible assets 30,281 27,847 30.281 27,847 Current assets Stocks Debtors Cash at bank and in hand 243,479 79,091 545.411 221,540 70,148 571,439 10 867,981 12.500 863,127 12.500 Non