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2023-12-31-accounts

Charity Registration No. 1058536

Company Registration No. 3255850 (England and Wales)

THE NEHEMIAH PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

THE NEHEMIAH PROJECT

CONTENTS

Page
Trustees’ report 1-6
Independent auditor's report 7-9
Statement offinancial activities 10-71
Balance sheet 12
Statement ofcash flows 13
Notestothefinancialstatements 14-30

THE NEHEMIAH PROJECT

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number 1058536
Company number 3255850
Registered office 47 Tooting Bec Gardens
London
SW16 1RF
Auditor Begbies
9 Bonhill Street
London
EC2A4DJ
Bankers NatWest plc
NatWest Bank Plc
145 Clapham High Street
London
SW4 7SN
Solicitors BatesWells
10 Queen Street Place
London
EC4R1BE

THE NEHEMIAH PROJECT

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their report and accounts for the year ended 31 December 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2019)

Objectives and activities

The Nehemiah Project has over 30 years’ experience of working with men with a history of addiction. Our clients are arguably some of the most marginalised and excluded individuals in society, with multiple and complex needs.

Our high level objectives are:

A key aim fs to build resilience in our Residents so that when they move on, they can deal with unexpected and challenging life events without resorting to old behaviours, and to provide coping strategies to avoid relapse.

Vision

To be a centre of excellence for rehabilitating men from crime and addiction through the transformation of their lives to become fulfilled, valuable members of the community.

Mission

The Board and all Nehemiah staff believe that anyone can change their life, and this underpins all our work. Our holistic, peer-group approach to recovery creates a safe place where men can go through the painful process of reviewing their lives and establishing a new foundation on which to build their future. We support each man to reach his potential, and we celebrate their success.

Values

Following our Values Day in Oct 2023, attended by members of the Staff and Trustee team, Nehemiah has adopted the following values to inform our best practice going forward. These values apply to everyone who engages with our service, whether staff, Residents, volunteers, or external visitors:

° Belief

¢ Respect

* Honesty

¢ Our foundation for strong relationships; nurturing an environment of trust and truthfulness.

¢ Compassion

« Empowerment

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THE NEHEMIAH PROJECT

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

Key achievements 2023

In the past twelve months we:

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Priorities for 2024/5

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THE NEHEMIAH PROJECT

TRUSTEES’ REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

1 — Performance Delivery

Nehemiah has an excellent record of both reducing reoffending and reducing drug and alcohol dependency. In 2023 we endeavoured to continue to improve our services and our outcomes.

A New Future is a rolling programme which men can join at any point and complete the twelve modules. It is a 12-week programme delivered each weekday morning at our first-stage houses, focusing on recovery and resettlement through process groups and education sessions. We encourage the participating cohort to work through issues together, sharing experiences, challenging one another and learning to resolve conflict. This has helped build resilience to increase the men’s ability to cope with day-to-day social, emotional and practical pressures. In 2023 we introduced a new move-on support role to stretch and extend the support we offer as men prepare and move onto fully independent living.

No. of Residents
completing the Stage 19 14 21 28 26 31 27 28 28 31
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Residents in work,
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No. of Residents
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Nehemiah

2 — Financial Prudence and Sustainability

Maintaining financial prudence is a key element of the success of any charity. In 2023:

¢ We continued to build relationships with key funders in a very challenging environment e We maintained tight financial control with regular reporting to Trustees.

In 2023 we were able to increase income from Trusts and Foundations, securing some multi-year grants. Our enhanced Housing Benefit payments also increased due to higher occupancy. In 2023 the Charity had a total income of £1,064,938, an increase of 22% on 2022. Out total expenditure was £944,985, 4% higher than 2022 due to a rise in salaries and other inflationary costs.

Designated funds include the £805,083 property capital fund, which is our investment in the freehold of the Charity’s main property in Streatham. It is anticipated that these funds will remain invested in the property for the foreseeable future. Unless the property is sold or re-mortgaged, these funds are not directly accessible.

Nehemiah’s general unrestricted funds at the end of 2023 stand at £156,443, an increase of £119,411 from 2022.

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THE NEHEMIAH PROJECT

TRUSTEES’ REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

Management will focus on building these reserves to meet the desired level of three months’ budgeted future operating costs which would be £280,000.

Reserves Policy

At the balance sheet date the total funds of the Charity stand at £989,433, of which £27,885 is restricted and £805,083 is held in our designated property capital fund leaving £156,443 of free reserves. Our reserves policy is to hold free reserves to a level equivalent to three month’s budgeted future operating costs (currently £280,000). The Charity has a strategy to continue to build its reserves to a point that could allow additional property growth.

Nehemiah 2023

Strategic Overview

In 2023, our outcomes generally exceeded those of pre-Covid. Covid negatively impacted the lives of men coming to us as well as the systems that supported them but we have adapted to this.

1 —In-depth reviews of our services and outcomes in 2023

These reviews indicated excellent programme outcomes, but highlighted the need for greater move-on support.

2 - Financial Prudence and Sustainability

In 2023 we fully recovered the financial ground we had lost during the Covid period, achieving a higher income than in any previous year, whist keeping our expenditure to a 4% increase. We significantly increased our free reserves but these remain at approximately 50% less than we should carry before we embark on any additional property growth.

3 — Growth — Improving quality in terms of service, moving our properties in Croydon and positioning the charity in terms of profile and physical growth.

Our intention is to position Nehemiah as the ideal Stepping Stone into the community through the ongoing refinement of our programmes.

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THE NEHEMIAH PROJECT

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

Nehemiah’s approach to fundraising

Our supporters are key to everything we do. Each year they enable us to help vulnerable men recover their lives. We are committed to being fully transparent and accountable about how their gifts are used.

Our fundraising costs are kept to a minimum, with 8% of revenue being spent on the cost of raising funds. All fundraising is done in-house with no third-party involvement.

We are members of the Fundraising Regulator and as members we follow the Code of Fundraising Practice and the policy of dealing with vulnerable people.

In the financial year ending 31 December 2023 we did not receive any complaints about our fundraising.

We keep up to date on changing regulation and ensure we comply with it by changing processes where necessary.

Structure, governance and management

The Nehemiah Project is a Company Limited by Guarantee, governed by its Memorandum as amended and adopted by Special Resolution in 2009, and Articles of Association dated 4th September 2019. The new Articles adopted in 2019 were drafted to streamline the procedural running of the Charity but had no effect on the Charity’s existing objects or purpose. The Nehemiah Project is a registered Charity with the Charity Commission of England and Wales. In the event of winding up, members’ liabilities are limited to £1 each. The Trustees, who are the Directors for the purposes of company law, and who served during the year were:

Mr. T. B. Aikens Mrs. K. P. Hunter Johnston Mr. W. Ansell Mr. A. T. R. Nell (Chair, until 27-10-22) Mr. R. M. Atwater Mr. A. P. Watson Mr. G. S. Boyle Miss J. S. Whitaker Mr. C. Matthews (Chair from 27-10-22) Miss M. B. Musolino (joined 07-12-23)

Trustees are appointed by resolution of the existing Trustees. Most new Trustees will be familiar with the practical work of Nehemiah and all Trustees attend information events to keep up-to-date. New Trustees undergo a thorough induction covering decision-making processes, key employees and future plans and objectives. They are also advised of their legal obligations as Trustees.

The Trustees meet quarterly and as two separate Subcommittees, The Finance and Fundraising Subcommittee chaired by Mr T Aikens, and the HR Subcommittee chaired by Mr A. Watson. All meetings have been ‘in person’ with the option to also join by Zoom. Trustees have continued to receive regular financial reports and updates on Nehemiah’s activities and fundraising. The Board of Trustees is responsible for the overall legal, financial and strategic direction and development of Nehemiah.

Public Benefit

The Trustees consider that they have complied with the duty to have due regard to public benefit guidance published by the Charity Commission.

Management Team

Our Thanks to Mrs L. Hawthorne, Operations Director who retired at the start of 2023 after serving the Charity for nine years.

Day-to-day management, including finance, HR and operations, is the responsibility of the CEO. He is supported by the other members of the management team, who meet weekly, and who take responsibility for the assets of Nehemiah, supported housing, and fundraising.

THE NEHEMIAH PROJECT

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

Risks

The Trustees review Nehemiah’s risk register quarterly. They are responsible for approving and overseeing the implementation of any changes to procedures, training or other actions to mitigate the risks Nehemlah faces. Alt areas are RAG rated, with high priority areas separately highlighted and reported.

A Risk Register is maintained and presented at each Directors’ Meeting. The Risk Register is available upon request.

Relationship with other charities

Two of the Charity's move-on homes, The Chase and Pouniney Road, are owned by Sanctuary Housing. Since 2013 Nehemiah has been Managing Agent for these properties. This agreement runs on a two-year agreement and currently runs untif 2026, As such the Residents are Sanctuary Housing Licensees, managed by Nehemiah. The Charity’s fourth and fifth houses, 1-3 Frederick Gardens and 98 Lodge Road, Croydon, are owned by Croydon Churches Housing Association (CCHA). The Charity has a five-year lease with CCHA for these properties, terminating in September 2025. Ta assist GCHA, the Charity has agreed to terminate the lease in September 2024 and to move to three other CCHA properties of similar size.

Statement of Trustees’ responsibilities

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

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

in preparing these financial statements, the Trustees are required to:

The Trustees are responsible for Keeping adequate accounting records that disclose with reasonable accuracy at any time the financial pasition of the Charitable Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with Nehemiah’s Articles, Trustees will appoint suitably-qualified Auditors,

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

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THE NEHEMIAH PROJECT INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NEHEMIAH PROJECT

Opinion

We have audited the financial statements of The Nehemiah Project (the ‘charitable company’) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical 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

In auditing the financial statements, we have concluded that the Trustees’ use of the going 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 the charitable company’s ability to continue as a going concern for a period of 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 other than the financial statements and our auditor's report thereon. 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. 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.

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THE NEHEMIAH PROJECT

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE NEHEMIAH PROJECT

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our 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 directors' report included within the Trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charitable company for the purpose 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 company’s ability to continue as a going concern, disclosing, as applicable, matters related to 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.

Auditor's responsibilities for the audit of the financial statements

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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance 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.

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THE NEHEMIAH PROJECT

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE NEHEMIAH PROJECT

Extent to which the audit was capable of detecting irregularities, including fraud

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:

— Agreement of the financial statement disclosures to underlying supporting documentation to assess compliance with those laws and regulations having an impact on the financial statements and disclosure requirements. In particular, Accounting and Reporting by Charities: Statement of Recommended Practice;

— Enquiries and confirmation of management and the trustees as to their identification of any non-compliance with laws or regulations, or any actual or potential claims;

— Review of minutes of the Board meetings during the period;

— incorporating unpredictability into the nature, timing and/or extent of testing.

— Evaluation of the selection and application of the accounting policies chosen by the charity.

— In relation to the risk of management override of internal controls, by undertaking procedures to review journal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud; and

— We assessed the susceptibility of the charity’s financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http:/Avww.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the 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 company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

| y_ forKatherine and on behalfDee FCA of(Senior Begbies Statutory Auditor)

Chartered Accountants Statutory Auditor

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NS
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9 Bonhill Street London EC2A 4DJ

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THE NEHEMIAH PROJECT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Currentfinancial year
Unrestricted Restricted Total Total
funds funds
2023 2023 2023 2022
Notes £ £ £ £
Income from:
Donations and legacies 2 284,357 292,379 576,736 531,443
Charitable activities 3 486,286 - 486,286 390,281
Investments- bank interest 1,916 . 1,916 30
Total income 772,559 292,379 1,064,938 921,754
Expenditure
on:
Raising funds 4 61,973 - 61,973 65,014
Charitable activities
Supported Housing Programme 6 602,818 279,172 881,990 830,930
ANew Future Online 6 1,000 - 1,000 11,234
Total charitable expenditure 603,818 279,172 882,990 842,164
Total resources expended 665,791 279,172 944 963 907,178
Net incoming resources before transfers 106,768 13,207 119,975 14,576
Gross transfers between funds 2,817 (2,817) -
Net income for the year/
Netmovement in funds 109,585 10,390 119,975 14,576
Fund balances at 1 January 2023 851,963 17,495 869,458 854,882
Fundbalancesat31December2023 961,548 27,885 989,433 869458

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

All income and expenditure derive from continuing activities.

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

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THE NEHEMIAH PROJECT

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

Prior financial year

Prior financial year
Unrestricted Restricted Total
funds funds
2022 2022 2022
Notes £ £ E
Income from:
Donations and legacies 2 302,621 228,822 531,443
Charitable activities 3 390,281 - 390,281
Investments 30 - 30
Total income 692,932 228,822 921,754
Expenditure on:
Raising funds 4 65,014 . 65,014
Charitable activities
Supported Housing Programme 6 612,469 218,461 830,930
A New Future Online 6 1,234 10,000 11,234
Total charitable expenditure 613,703 228,461 842,164
Total resources expended 678,717 228,461 907,178
Net incoming resources before transfers 14,215 361 14,576
Gross transfers between funds 16,920 (16,920) -
Net income forthe year/
Net incoming resources 31,135 (16,559) 14,576
Fund balances at 1 January 2022 820,828 34,054 854,882
Fundbalancesat31December2022 851,963 17,495 869,458

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

All income and expenditure derive from continuing activities.

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

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THE NEHEMIAH PROJECT

BALANCE SHEET

AS AT 31 DECEMBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 10 895,083 904,931
Current assets
Debtors 11 64,068 100,895
Cashatbank and inhand 423,166 181,740
487,234 282,635
Creditors: amounts falling duewithin
oneyear		 12 (189,823) (202,277)
Netcurrent assets 297,411 80,358
Total assets Jess current liabilities 1,192,494 985,289
Creditors: amounts falling due after
morethan oneyear 13 (203,061) (415,831)
Netassets 989,433 869,458
incomefunds
Restricted funds 18 27,885 17,495
Unrestricted funds
Designated funds 17 805,083 814,931
General unrestricted funds 156,465 37,032
961,548 851,963
989,433 869,458

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Company Registration No. 3255850

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THE NEHEMIAH PROJECT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023

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|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |Notes|£|£|£|£| |Cash|flows|from|operating|activities| |Cash|generated|from/(absorbed|by)|22| |operations|255,739|(32,263)| |Investing|activities| |Purchase|of tangible|fixed|assets|(6,359)|(16,920)| |Investment|income|received|1,916|30| |Net cash|used|in|investing|activities|(4,443)|(16,890)| |Financing|activities| |Repayment|of bank|loans|(9,870)|(9,629)| |Net cash|used|in|financing|activities|(9,870)|(9,629)| |Net|increase/(decrease)|in|cash|and|cash| |equivalents|241,426|(58,782)| |Cash|and|cash|equivalents|at|beginning|of year|181,740|240,522| |Cash|and|cash|equivalents|at end|of year|423,166|181,740|

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THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Charity information

The Nehemiah Project is a private company limited by guarantee incorporated in England and Wales. The registered office is 47 Tooting Bec Gardens, London, SW16 1RF.

The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

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

At the time of approving the accounts, the Trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the next 12 months. Thus the Trustees' continue to adopt the going concern basis of accounting in preparing the accounts.

The free reserves of the charity are very low. However the charity has cash available to meet day to day activities due to the structure of long term borrowing. The charity also owns the freehold premises at 47 Tooting Bec Gardens which is stated in these accounts at cost. The trustees are of the opinion that were the charity in need of funds, further borrowing could be secured in the short term or the property could be sold.

Designated funds are a category of unrestricted fund set aside by the trustees for a specific purpose. The designated funds of The Nehemiah Project reflect the funds invested in the fixed assets of the charity and not available for day to day use, and the funds set aside by the trustees as detailed in the reserves policy.

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

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

(Continued)

Grants are recognised at the point when the charity is notified of the grant and the charity is entitled to the income. Grants shown as donations are only deferred if they relate to a specific future time period as identified by the donor or the charity has received the income, but there is no entitlement to spend the funds at the year end. Ifthe charity is not entitled to the funds without first meeting criteria which are yet to be met at the year end, and the funds have not been received, the funds will not be recognised in the accounts.

Grants are recognised as restricted if they are donated for a purpose more restrictive than the ongoing activities of the charity.

Grants are recognised as unrestricted if the donor either does not state any restriction on use or the restriction is to use funds for the supported housing project, as this is the only activity undertaken by the charity.

Grants that are received for the general operation of the charity, rather than on the basis of a contract for services or for meeting a specified level of services, the grant is shown as a donation.

Were a grant to be received with performance conditions it would be shown as income from charitable activities and would be deferred to the extent the charity has yet to fulfil the performance obligations.

Housing benefits and other rental contributions are accounted for when receivable.

Income from fundraising activities includes ticket sales, receipts from charity auctions and other income which is earned in the course of events run by the charity. Sponsorships for marathons, fun runs and other events are shown in donations as these are in effect gifts.

Income from events is included in the year in which the event has taken place.

Liabilities for costs are recognised in the statement of financial activities as they are incurred.

The charity has two charitable activities, being the operation of a supported housing programme and A New Future Online. The administrative activities are run from one of the supported housing buildings which is owned by the charity, and accordingly there is little general overhead cost.

The costs of fundraising activities and reporting to funders are separately identifiable and directly allocated.

General office costs are all allocated to the supported housing activity due to the immaterial size of those attributable to fundraising and online activities.

1.6 Tangible fixed assets Tangible fixed assets costing over £500 are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

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

Land and buildings Nil Leasehold improvements Over the life of the lease Fixtures, fittings & equipment 25% straight line Computers 33% straight line

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THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

(Continued)

Freehold land and buildings, representing one of the supported housing homes, is not depreciated as the trustees consider the residual value to be higher than carrying value. The land and property is stated at cost and at the year end the open market value was considered to exceed the carrying value. The value of the home is reviewed annually for impairment.

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

1.7 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

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

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

=46<

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

1 Accounting policies

(Continued)

1.11 Retirement benefits

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

——————————————————— SSS oo

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

2 Donations and legacies

Total Total
2023 2022
£ £
Donations and gifts 85,187 73,179
Legacies receivable 7,000 -
Grants towards ongoing operations 589,513 410,829
Less: net deferred income (128,052) 22,957
Other including London Marathon sponsorships 29,088 24,478
576,736 531,443
Note 24 contains details ofdonations by related parties.
Total Total
2023 2022
£ £
Grants towards ongoing operations
Albert Gubay Charitable Trust 50,000 -
British Association ofthe Order of Malta 30,000 30,000
Cicely Northcote 10,000 10,000
Charles Hayward Foundation - -
Childs Charitable Trust 5,000 -
Golden Bottle Trust 5,000 -
Lloyds Bank Foundation 25,000 27,250
Maurice & Hilda Lang Charitable Trust 10,000 -
National Lottery Community Fund - 44,000
Sir Harold Hood Charitable Trust - 5,000
The 29th May 1961 Charitable Trust 5,000 =
TheAlbert HuntTrust - 5,000
TheAD CharitableTrust 20,000 20,000
The Borrows Charitable Trust - 8,500
The Garfield Weston Foundation - 40,000
The Global Fund for Forgotten People 192,622 53,129
The Henry Smith Charity 40,000 39,000
The Jerusalem Trust 52,000 40,000
The Mackie Foundation 30,000 -
The Monday Trust 50,000 10,000
The Peter Stebbing Memorial Charity 5,000 -
The Reed Foundation . 7,500
The Society of the Holy Child Jesus 10,000 20,000
The Charity of Sir Richard Whittington 29,000 25,000
The Worshipful Company ofVintners - 10,000
Other£3,000 and below 20,890 16,450
589,513 410,829

-18-

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

3 Charitable activities

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Supported|Supported| |housing|housing| |income|income| |2023|2022| |£|£| |Housing|benefit|and|other|rental|income|486,286|390,281|

----- End of picture text -----

4 Raising funds

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2023|2022| |£|£| |Seeking|donations,|grants|and|legacies|4,942|4,498| |Staging|fundraising|events|2,925|2,925| |Staff costs|54,106|57,591| |Costs|of operating|fundraising|events|61,973|65,014|

----- End of picture text -----

-19-

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

5 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employeesemployees
The average monthly number of employeesemployees during the year was:		 year was:
2023 2022
Number Number
17 17
Employment costs 2023 2022
£ £
Wages and salaries 485,510 485,198
Social security costs 43,059 44,649
Defined contribution pension costs 7,068 6,701
535,637 536,548

The number of employees whose annual remuneration, excluding employers’ national insurance and pension contributions, was £60,000 or more were:

pension contributions, was £60,000 or more were:
2023 2022
Number Number
£60,001-£70,000 1 1
£70,001-£80,000 1 -

Pension contributions for higher paid staff total £2,642 (2022: £1,321).

mAh) «

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Charitable activities

Supported
Housing
Programme		 ANew
Future
Online		 Total
2023		 Supported
Housing
Programme		 ANew
Future
Online		 Total
2022
2023 2023 2022 2022
£ £ £ £ £ £
Staff costs 419,189 1,000 420,189 404,633 5,000 409,633
Depreciation and
impairment 16,207 - 16,207 16,187 - 16,187
Staff and volunteer
expenses, recruitment and
training 3,110 - 3,110 9,910 - 9,910
Rent and rates 131,107 - 131,107 117,166 - 117,166
Repairs and renewals 19,401 - 19,401 24,046 - 24,046
Light and heat 46,466 - 46,466 30,333 . 30,333
Motor and travel 862 - 862 881 - 881
Residents needs 8,183 - 8,183 2,894 . 2,894
Consultancy, clinical
supervision and other
professional fees 48,537 . 48,537 33,303 6,234 39,537
Subscriptions and licences 1,123 - 1,123 1,259 - 1,259
Cleaning materials and
refuse disposal 7,022 . 7,022 5,839 . 5,839
Food 3,044 - 3,044 2,834 - 2,834
Special projects . - - 4,474 - 4,474
Insurance 23,135 - 23,135 19,761 - 19,761
Programme costs 5,809 = 5,809 3,595 - 3,595
Sundry costs - - - 1,937 - 1,937
Temporary & agency staff
costs 10,290 - 10,290 - - -
743,485 1,000 744,485 679,052 11,234 690,286
Share ofsupport costs (see
note 8) 125,075 - 125,075 123,530 - 123,530
Share ofgovernance costs
(see note 8) 13,430 - 13,430 28,348 . 28,348
881,990 1,000 882,990 830,930 11,234 842,164
Analysis by fund
Unrestricted funds 602,818 1,000 603,818 612,469 1,234 613,703
Restricted funds 279,172 - 279,172 218,461 10,000 228,461
881,990 1,000 882,990 830,930 11,234 842,164

oo

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

6 Charitable activities

(Continued)

2023 supported housing consultancy fees includes £14,625 for counselling, £580 clinical supervision, £10,000 for monitoring and evaluation and £12,219 for peer mentoring. A New Future Online pilot project continued during the year using existing internal staff resources.

2022 supported housing consultancy fees includes £14,445 for counselling and £1,440 clinical supervision. 2022 A New Future Online consultancy comprises the continued costs of writing the online programme and the pilot project.

7 Description of charitable activities

Supported Housing Programme

Residential supported housing services for those recovering from addiction.

A New Future Online

In 2021, the Charity started to create a programme which can be delivered online, either directly or through partner organisations. The programmeis still at pilot stage and no material general overheads arise are applicable to this activity.

8 Support costs

Support costs
Support Governance 2023 2022
costs costs
£ £ £ £
Staffcosts 61,342 - 61,342 69,324
Printing, postage and stationery 14,634 - 14,634 14,909
Telephone 8,677 - 8,677 7,379
Staff recruitment 2,788 ° 2,788 1,617
HR support and professional fees 12,680 - 12,680 7,719
Computer expenses 19,608 - 19,608 18,001
Loan interest 778 - 778 831
Sundry expenses 1,148 - 1,148 952
Training and staff subscription costs 3,420 - 3,420 2,798
Audit fees - 11,360 11,360 5,880
Accountancy - 2,070 2,070 2,070
Legal and professionali . - - 20,398
125,075 13,430 138,505 151,878
Analysed between
Charitableactivities 125,075 13,430 138,505 151,878

Support costs are allocated to charitable activities in proportion to salary costs incurred. No material support costs relate to fundraising.

Governance costs includes payments to the auditors of £7,680 including VAT (2022- £5,880) for audit fees and £2,070 including VAT (2022- £2,070) for the provision of management accounts during the year.

399%

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Tangible fixed assets

10 Tangible fixed assets
Landand Leasehold Fixtures, Computers Total
buildings improvements fittings &
equipment
£ £ £ £ £
Cost
At 1 January 2023 884,094 15,845 158,336 60,608 1,118,883
Additions - - 3,542 2,817 6,359
At 31 December2023 884,094 15,845 161,878 63,425 1,125,242
Depreciation and impairment
At 1 January 2023 - 12,676 153,786 47,490 213,952
Depreciation charged in the year - 3,169 4,619 8,419 16,207
At 31 December2023 - 15,845 158,405 55,909 230,159
Carrying amount
At 31 December2023 884,094 . 3,473 7,516 895,083
At 31 December2022 884,094 3,169 4,550 13,118 904,931
11 Debtors
2023 2022
Amounts falling due within one year: £ E
Otherdebtors 44,622 72,714
Prepayments and accrued income 19,446 28,181
64,068 100,895
12 Creditors: amounts falling due within one year
2023 2022
Notes £ £
Bank loans 14 9,700 9,800
Other taxation and social security 12,137 13,230
Deferred income 15 124,464 93,412
Trade creditors 28,112 42,038
Accruals 15,410 43,797
189,823 202,277

Accruals at 2022 includes £30,706 of rent which had yet to be invoiced at the balance sheet date.

=23 =

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

13 Creditors: amounts falling due after more than one year

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2023|2022| |Notes|£|£| |Bank|loans|14|16,061|25,831| |Deferred|income|15|97,000|-| |Britland|Charitable|Trust|loan|90,000|90,000| |203,061|115,831| |Loans|and|overdrafts| |2023|2022| |£|£| |Bank|and|trust funding|115,761|125,631| |Payable|within|one|year|9,700|9,800| |Payable|after one|year|106,061|115,831|

----- End of picture text -----

14 Loans and overdrafts

During the 2020 year the charity repaid its Charity Bank loan with a NatWest Bounce Back loan. The loan has a fixed interest rate of 2.5% and is repayable over six years, with no interest or repayments for the first twelve months. The Bounce Back loan is unsecured.

The £90,000 Britland Trust loan is unsecured, non interest bearing and has no fixed repayment date. No amounts have been recognised in the accounts for the donation in kind of interest forgone or in respect of discounting to net present value due to no agreed schedule of repayments.

15 Deferred income

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |2023|2022| |£|£:| |Performance|related|grants|43,108|13,108| |Grants|for|a|future|time|period|208,356|80,304| |221,464|93,412| |Deferred|income|is|included|in|the|financial|statements|as|follows:| |2023|2022| |£|£| |Current|liabilities|124,464|93,412| |Non-current|liabilities|97,000|-| |221,464|93,412|

----- End of picture text -----

-~24-

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

15 Deferred income

(Continued)

Deferred income includes £186,422 from the Global Fund for Forgotten People which has been given to the Charity for 2024 to 2026 on the closure of the organisation, with no entitlement to access the funding earlier.

16 Retirement benefit schemes

Defined contribution schemes

The charitable company operates a defined contribution pension scheme for all qualifying employees under an auto enrolment pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £7,068 (2022 - £6,701)

-25-

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THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

20 Limited by guarantee

The charitable company's legal structure is that of a company limited by guarantee. In the event of the company winding-up each member is liable to contribute to any deficit to a maximum of £1 per member.

21. Operating lease commitments

Lessee

The ‘Move On' house and Pountney Road are rented from Sanctuary Housing Trust under a management agreement. The agreed prevailing rent is £19,765 and £14,639 respectively and requires that the Charity provide support services to the residents. No adjustment to the rent is made in these accounts for the support provided to the residents. In April 2020 a two year agreement was signed, and this was extended to 31st March 2024. The below figure includes a final quarter of rent. At the balance sheet date, a further two year extension was in the process of being agreed.

Fredrick Gardens is occupied on a lease due to terminate in September 2025 with an annually reviewed rent. The agreed prevailing rent stands at £24,675 at the balance sheet date. The lease does not contain a break clause and so at the year end the charity was committed to a further one year and nine months of rental charge.

98 Lodge Road is occupied on a lease due to terminate in September 2025 with an annually reviewed rent. agreed prevailing rent stands at £43,067 and at the year end the charity was committed to a further one year and nine months of rental charge. The charity has also committed to redecoration of the property at the end of the lease to a maximum cost of £10,000.

The total of the above payments is £137,149.

22 Cash generated from operations

Cash generated from operations 2023 2022
£ £
Surplus for the year 119,975 14,576
Adjustments for:
Investment income recognised in statement offinancial activities (1,916) (30)
Depreciation and impairment oftangible fixed assets 16,207 16,187
Movements in working capital:
Decrease/(increase) in debtors 36,827 (76,756)
(Decrease)/increase in creditors (43,406) 36,717
Increase/(decrease) in deferred income 128,052 (22,957)
Cashgeneratedfrom/{absorbedby)operations 255,739 (32,263)

a Q6 «

THE NEHEMIAH PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

23 ~Analysis ofchanges in netfunds
At 1 January Cash flows At 31 December
2023 2023
£ £ £
Cash at bank and in hand 181,740 241,426 423,166
Loans falling due within one year (9,800) 100 (9,700)
Loans falling due after more than one year (25,831) 9,770 (16,061)
146,109 251,296 397,405

24 Related party transactions

Mr R. Atwater, Mr G. Boyle and Miss J. Whitaker are all members of the Sovereign Military Hospitaller Order of St John of Jerusalem, of Rhodes and of Malta (the Order of Malta). The Nehemiah Project has received significant financial assistance from The Global Fund for Forgotten People, a fund with close ties to the Order of Malta, and the Order of Malta itself. The Global Fund for Forgotten People ceased UK operations during the year, but continues activities from the Vatican. The Trustees Report contains details of the work carried out with this funding and the income is disclosed in note 2.

During the year the charity received £20,022 (2022- £8,210) in giving from Trustees. These funds were not subject to any restrictions to activities beyond those normally undertaken by the charity.

The charity purchased trustees liability insurance as part of a combined insurance package and accordingly no cost has been attributed to governance and support costs.

None of the Trustees (or any persons connected with them) received any remuneration, travel expenses or benefits from the charitable company during the year (2022- nil).

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation including pension and employers’ national insurance 83,063 78,829
Nofinancialguaranteeshavebeengivenorreceivedbyrelatedparties.

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