Charfty Regl8tratlon No. 1058536 Company Regl8tratlon No. 3255850 (England and Wale8 THE NEHEMIAH PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Nehemiah
THE NEHEMIAH PROJECT CONTENTS Page Trustees, report Independent auditovs report 9-11 Statement of financial activities 12-13 Balance sheet 14 ststement of cash flows 15 Notes to the financial statements 16-31
THE NEHEMIAH PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Charlty number 1058536 Company numbor 3255850 Roglsterod offlcè 47 Tootlng B6c Gardens London SW16 1RF Audltor B8gbles 9 Bonhlll Street London EC2A4DJ Bankers Natwest plc Natwest Bank PIC 145 Clapham Hlgh Street London SW4 7SN Solicftorn Bates Well8 10 Queen Street Place London EC4R 1 BE
THE NEHEMIAH PROJECT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and accounts forlhe year ended 31 December 2024. 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 Associalion, the Companies Act 2006 and "Accounling and Reporting by Charilies.. Slatemenl of Recommended Practi applicable to charilies preparing their accounts in accordan with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102)" (as amended for accounling periods commencing from 1 January 2019) Objectives and actlvltles The Nehemiah Project has over 30 years, experience of working with men with a history of addiction. Our clients are arguabty some of the most marginalised and excluded indivlduals in society, with multiple and complex needs. Our high level objectives are.. To enable vulnerable men to break free from crime and addiction and to help them rebuild their lives To offer men. once released from prison, the resources to set new goals and give them hope for the fvture To assist in their reintegration into the community through the provision of supported housing immedialely after release and beyond. as well as the provision of rehabilitalion programmes. A key aim is to build resillence in our Residents so that when they move on, they can deal wilh unexpected and challenging life events without resorting lo old behaviours, and to provide coping strategies to avoid relapse. Vislon To be a cenlre of excellence for rehabilitating men from crlme and addiction through the transformation of their lives lo 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 estsblishing a new foundation on which to build their future. We support each man to reach his potential, and we celebrate thelr success. Values Nehemlah has adopted the following values which will inform our best practice. We see these values applying to everyone who engages with our seNice. whether staff, residents, volunteers, or external visitors.. Belief Our driving force, we believe In each person's unique potential and the power of positive change. Respect Our commitment to valuing each other's choices, embracing differences and building a culture of mutual acceptance. Honesty Our foundation for strong relationships- nurturing an environmenl of Irust and Irulhfulness. Compasslon At the cenlre of our approach, emphasising empathy, understandlng and patience through both positive and challenging circumstances. EmpovRrment Our focus on giving Indlviduals the tools, support and freedom they need lo resolve their own issues, explore option5, and recognise their self-worth.
THE NEHEMIAH PROJECT TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Key achlevem6nts 2024 In the past Iwelve rnonths.. We worked with 48 men, extending the average tlme that Resldents stayed al Nehemiah. 20 men joined A New Future, our 13-week Recovery programme, with 14 Graduating (700/0). 32 Residents were in employment. Iraining or regularfy volunteering, an increase of 450/0 on the previous year. 29 Residents benefitled from our Family Support programme, with 12 Residenls rebuilding family relationship5. Less than 50/0 of those who have completed our programme in the past five years have returned to prison, to our knowledge. Nationglly the Iglest figures show that 55 % of those released reoffend within 12 months and this slatislic is even higher in London prisons. We have contlnued our peer-mentoring progrgmme for new Residents, in partnership with The Forward Trust, training all graduate Nehemiah Residents and some volunteers as Peer Mentors. We continued to dellver 'A Brighter Future, our second4tage programme, once a week in the evenlngs,. thls is co-delivered by the men themselves and facilitated by our slaff. We have continued to develop our volunleering programme with 65 volunteers regularly participating in a range of actlvilies. We have increased our connections with community partners. increasing our referral base in the community. We successfully relocated from our two properties to three new properties In Croydon In partnership with Croydon Churches Housing Association. Ileoffendii rntes within 700 55%F en.graduatlng frv Gur 13-week gramme 12 onthiof ving IAen rebuilding family relationships thanksto our Family Support pro87 National average 65 48 The numberof mèn that we supported . Ournumber Of Ih li volunteers
THE NEHEMIAH PROJECT TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Prioritles for 2025126 Our priorities are lo.. Successfully transition from our retiring CEO to our new CEO (see "strategic overview" below) Strengthen the foundations of the Charity for the next decade. Continue to expand and develop the support offered lo men as Ihey prepare to move on. This will have a practical focus as we seek lo recognise the lifelong impact Ihal Adverse Childhood Condilions have on behaviour, health, and the life-course of the majority of our Residents. Our aim is lo be more deliberale in helping our Residents build relational and emotional support to enhance their resilience and longer-lerm recovery. Introduce new quality measures lo better assess how we refine our support. Apply the research of our PhD student on the 'Good Lives Model, in partnership with the Centre for Addictive Behaviours, London Soulhbank University. Work with community partners to develop complimentary activities and opportunities for Nehemiah Residents. Focus on our finances, increaslng regular Sncome and our level of reserves. 1- Perfomlance Dellvèry Nehernlah has an excellent record of both reducing reoffending and reduclng drug and alcohol dependency. In 2024 we endeavoured to continue to improve our services and our outcomes. 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 ol esidents ompletlng Stage 1 01 stiii th us No. of men orked wlth of meri remalnlng abstinent or one ear esldents Ini ork, vocational ralnlng oi oluntary ork 14 26 31 27 28 28 31 29 31 37 39 64 74 75 71 71 Illli 52. 59 74 19 10 20 14 10 10 32 ol esldents eoffending r recalledl ithin one, ear leaving Nehemlah verage Dccupancy rate Income 'A Increase 11111111 00 72.751 25,496 10% 28,118 557,942 762,858 949,516 644,418. 921,754 1,064,938 1,094,574
THE NEHEMIAH PROJECT TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 A New Future is a rolling programme which men can join at any point and complete the twelve modules. It is 13-week programme delivered each weekday moming al our first-slage houses, focusing on recovery and reseltlemenl through process groups and education sesslons. We encourage the participating cohort to work through issues logether, sharing experiences, challenging one another and learning to resolve conflict. This has helped build resilience lo increase Ihe men's ability to cope with day-tO4Jay 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. We consider this decrease to be a direct result of Covid-19 and Ihe resulting limit8tions of face-to-face contacl with men passing through the charity. 2- Flnanclal Prudence and Sustalnablllty Maintaining financial prudence is a key element of the success of any charity= We contlnued to build relationships with key funders in a very challenging environment, and successfully secured some multiwyear grants. We maintained tight financial control with regular reporting to Trustees. In 2024, although our Income from Trusls and Foundations increased by 60/9, it was 17% below the budget we had forecast due to a challenging fundraising environment. Income from individuals was consistent and Housing Benefit payments only decreased by 10/0 Wlth occupancy rates at 81 %. 2024 the Charlty had a total Income of £1,094,574 and a totsl expenditure of £1,087,413 showing a surplus of£7,347. Income increased 30/0 from 2023, Expendilure also increased by 150/0 due to the Croydon house move, increased salary and utilily Costs. Designated funds include the £810,198 propety capital fund, which is our investment in the freehold of the Charity's main property in Streatham. It is anticipated that these funds wlll remaln Invested in the property for the foreseeable future. Unless the property is sold or re-mortgaged, these funds are not direclly accessible. Nehemiah's general unrestricted funds al the end of 2024 stand at £182,179 an increase of £25,714 from 2023. Management will focus on building these reserves to meet the desired level of three months, operating cosls whlch would be £290.000. Reserves Pollcy The majority of our fijndlng for operational Costs comes from grants and donations. for which we are gratefvl. For liquidily purposes, the Trustees would like lo allain around £300,000 cash reserves (three months. operating cosls). The Charity has a strategy to continue to bulld its reseNes to a point Ihal could allow additional propety growih. The Charity's tangible fixed assels were £900,198 at 31 December 2024.
THE NEHEMIAH PROJECT TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Nehemiah 2024 Strategic Overview John Patience has Seed the charity as CEO since November 2011 and advised us of his plan lo retire during 2025. We thank him warmly for his great contribution. During 2024 we reflected on Ihe needs of the chariiy and appointed Macaulay Search to assist in the search for a new CEO. A Ihorough process led lo the appointment of a new CEO effeclive from September 2025. In 2024 we continued to increase the level of support in our second slage programme with a dedicated Full-time Move-on Coordinator working with Residents in second stage accommodation, delivering A Brighter Future and supporting Residenls one-lo-one. The needs of the men coming to Nehemiah are complex. and we wish to continue to offer an improved programme with a variely of seiceS to give them the best recovery for themselves, their families and the wider community. 1- Bulld on our Improved results for Residents, particularly those in our second stage programme. In 2025, we wlll: Contlnue to extend the breadth of support covered in our stage 2 programme, generally three lo nine months; and stage 3, nine to twelve months. We will do this primarily through our own team but also through Ihe delivery of support through exlernal agencies and volunteers. Continue to offer Family Support to those Residenls who need to reconnecl with their families, and to establish an external support group to offer to family members. We have increasingly linked with disadvantaged communities to help our Residents reinlegrate and connect their lives to community activities. Further develop our relatlonships with releasing prisons to ensure that Nehemiah is clearly 'signposted' lo those who can best benefit. Endeavour to find funding and partnerships to deliver the wellbeing interventions that had worked well for Residents over the last three years, such as counselling, personal granls and other wellbeing activities. Continue peer-mentoring iraining so that all of our graduates have the opportunlty to train as peer-mentors, ensuring new Nehemiah Residents receive additional support, especially al evenings and weekends. Conlinue to develop a programme for slaff wellbeing Ihal will create resilience and effectiveness in our staff. resulting in a positive, rewarding, and creative work environment. Further integrate The Good Lives Model in our recovery programmes. Ensure thal we continue to give Residents an opportunity to feedback through monthly surveys as part of our existing assessment of Resident experience. 2 - Flnanclal Prudence and Sustainability In 2024 we maintained our financial posilion, wilh a small surplus, although in a challenging fvndraising environment. We increased our free reserves but these remain at 650/0 of what we need in order to achieve three months running costs. Maintaining financial prudence and developing sustainability is a key element of the success of Nehemiah. To achieve this in 2025 we will.. Closely monitor our quarterly revenue and expenditure targets through our Finan & Fundraising Committee. Continue to collaborate wilh The British Association of the Sovereign Order of Malta to achieve our joint objeclives. Build longer-temi relationships with core funders, as well as recognising the contribution of our individual donors. Continue to develop the Donorfy Customer Relationshlp Management database to steward our donors more effectivety and improve our communications. Continue to raise Nehemiah's profile through a variety of channels in order to recruit fvrther supporters.
THE NEHEMIAH PROJECT TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Grovrth - Improving quality in terms of service and positioning the charity in tenns of profile and physical growth. Our intention is to deliber21ely position Nehemiah 2S the ideal Slepping Stone into the community through the ongoing refinement of our programmes. Whilst we can never change the past, we increasingly understand the negative impact that it has had throughoul someone's life course. We will deliberately introduce elements of support that the evidence suggests may well counterbalance some of these factors. This we think will further enhance recovery. Continue to work with housing partners outside of London to explore options for gro. Nehemlah's approach to fundraising Our supporters enable us to help vulnerable men recover their lives. We are committed to being fully transparent and accountable regarding how their gifts are used. Our fundraising costs are kepl to a minimum, with 8 /0 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 2024 we did not receive any complaints about our fundraising. We keep up lo 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. govemed by its Memorandum as amended and adopted by Spedal 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 Chariiy but had no effect on the Charily's existing objects or purpose. The Nehemiah Project is a registered Charity Wlth the Chariiy Comrnission of England and Wales. In the event of winding up, members, liabilities are limited to £1 each.
THE NEHEMIAH PROJECT TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees, who are the Directors for the purposes of company law, and who served during the year were.. Mr. T. B. Aikens Mr. W. Ansell Mr. R. M. Atwater Mr. G. S. Boyle Mr. C. Matthews (Chairl Mr. E. Bathgate O'oined 09-08-24) Mr. P. Sieyes tioined 05-12-241 Mrs. K. P. Hunter Johnston Mrs. O. Olayisade O'oined 18-04-241 Mr. A. P. Watson Miss J. S. Whitaker Miss M. B. Musolino Mr. R. Clarke (J'oined 18-04-241 {resigned 24-10-24) Trustees are appointed by resolution of the existing Trustees. Mosl new Trustees will be familiar with the practical work of Nehemiah and all Trustees attend information events to keep up-to-dale. New Trustees undergo an induction covering decision-making processes, key employees and future plans and objectives. They are also advised aboul theii legal obligations as Truslees. The Trustees meet quarterly and as ttmo separale Sub-committees, The FinanGe and Fundraising Subcommittee chaired by Mr T Aikens, and the HR Subcommittee chaired by Mr T Watson. All board meetings have been 'in person, with the option to also join by Zoom. Trustees have conlinued to receive regular financial reports and updales on Nehemiah's activities and fundraislng. The Board of Trustees is responsible for the overall legal. financial and strategic direction and development of Nehemiah. Public Beneflt The Trustees consider that they have complied with the duty to have due regard to publlc benefil guidance published by the Charity Commission. Management Team Dr J. Patience, Chief Executive Officer Mrs L. Ravenscroft, Development Dlrector Miss A. Sissuh, Supported Housing Manager Mr Josh Benfield, Operations Manager Day-lo-day management, including finance, HR and operalions, is the responsibility of the CEO. He is supported by the other members of the management team. who meet weekly, and who lake responsibility for the assets of Nehemiah, supported housing, and fundraising. Risks The Trustees review Nehemiah's risk register quarterly. They are responsible for approving and overseeing the implementation of any changes to procedures, Iraining or other actions to mitigate the risks Nehemiah faces. All areas are RAG rated, with high priority areas separalely highlighted and reported. A Risk Register is maintained and presented at each Directors, Meeting. The Risk Regisler is available upon request. Relationship with other charities Two of the Charity's move-on homes, The Chase and Pountney Road, are owned by Sanctuary Housing. Since 2013 Nehemiah has been Managing Agent for these properties. This agreernent runs on a two-year agreement and currently runs until 2026. As such the Residents are Sanctuary Housing Licensees. managed by Nehemiah. The Charity's fourth, fifth houses and sixth houses, 51 Thornhill Road, 15 Thornhill Road and 38 Oakfield Road, Croydon, are owned by Croydon Churches Housing Association ICCHAI. The Charity has a ten year lease with CCHA for these properties, terminating in 2034.
THE NEHEMIAH PROJECT TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees, rosponslbllltl•s Tha TnJ8teès, who are also the dirèctors ofTho N¢hemiah Project for th8 purpose of wmpany law, are reBpofisible for preparing Ihe Trustees, R8port and the financial ststements In accordan with 8pprable law and United KingdomAccounting Standards (Uniled Klngdom GenerdSly Accepted Accounliw Prnclic8}. Conwany Law requires the Trustees lo prepa ffnandal slatemenls for èach financi81 year which give a Iw8 8nd fair view of th& st8te of affairs of the Ch8rit8bl8 Company of the Incomlng feso¢Jrce$ and applIcaOn of resources. including th8 income and exndItre, of the Charitabl8 Company for thal year. In preparing these finandal statgm8nts. the Tru8tees are required to.. Select suttablo accountln9 polldes and then apply them consistentty; obseNe Ihe melhclls and prlndples In Ihe ChaTiUe5 SORP,. make ludgemenls and esttmales that ere reasonable and pwden(8nd prepar8 the flnanclal statemonts on the golr¥J concom basls unl858 tt Is knapproprfate to presume Ih8t the tharitsbie company wdl contirMJe in operation. The Tw$le&s are resrK)nsible for keeping adequate accounting Fecor(Is that disclose with rea$onable acLwracy al any time th8 financial position of the Chatitable Company and enablè 1hem to ensuro th81 ihe financlal ststents comply with the Compar+les Act 2006. They are also responsible forsafEguarding the Èssels of the Ch8rllable CDmpany and hence lor taking reasonable sleps forlhe preventith and detectron of fraud and olher Irregularttles. Audltor In accoanCe Wrth Nehemlah's Artld&$. Ttyst&es wlll apw)Int sullably-quallfied Audltors. 01s¢10gurn of lfftfvrmatlon to audltor Each of the Trustees has nfirrned that there ts no Irrformauon of which they are 8W8rts whtch Is relevant lo Ihe audit, bul of wh¢ch the auditor is unaware. Thay hav8 furth8r confimiad th* th•y ha tsken approprfat8 steps to identify sud) relevant Infomialion and to estsblish that tho audilor is aware ol Such information. s. report WO5 approved by Ihe Board of Trns18& rc.ma l)ews (Chalmianl Truslee
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 2024 which comprise the statement of financial activities, the balance sheet, the ststement of cash flows and notes to the financial ststements, including significant accounting policies. The financial reporting framework that has been applied in their preparation Is appllcable law and United Kingdom Accounting Standards, including Financial Reporting Slandard 102 The Financi81 Reporting St8ndard applicable in (he UK and Republic of Ireland (Uniled Kingdom Generally Accepted Accountlng Practice). In our opinion. the financial stalemenls: give a true and fair view of the state of Ihe charitable company's affairs as at 31 December 2024 and of its Incoming resources and appllcation of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Praclice,. and have been prepared in accordance with the requirements oflhe Companies Act 2006. Basls for oplnlon 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 Auditors responsibilities for the audit of Ihe accounts section of our report. We are independent of the charitable company in accordance wilh Ihe 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 ethlcal responslbillties in accordance with these requiremenls. We believe that the audit eviden¢e 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 approprlate. 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 concem for a period of al least e1ve months from when Ihe financial statements are authorised for Issue. Our responslbilities and the responsibilities of Ihe Trustees with respect lo going concem are described in the relevant sections of this report. Othor infomiation The other infomiation comprises the information included in the annual report other than the financial stalements and our audito¢s report thereon. The Trustees are responslble for the other information contained within the annual report. Our opinion on the financial stalements does not cover the other information and, except to the extent othetwise explicltiy stated In our report, we do not express any form of assltrance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other informalion is malerially inconsistent with the financial statemenls or our knowledge obtsined in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls, we are required to determine whether this gives rise to a material misstatement in the financial slatements themselves. If, based on the work we have performed. we condude 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.
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.. the information given in the Trustees, report for the ffinancial year for which the financial statements are prepared. which includes the directors, report prepared for the purposes of company12w, is consistent with the financial statements., and the direclors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understsnding 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. ieport. We have nothing lo 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= adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the financial stalements are not in agreement with the aOUntIng records and returns,. or certain dis¢losures of trustees, remuneration specified by law are not made,. or we have not received all the infomiation and explanations we require for our audil., or the Trustees were not entiued lo prepare the financial statements in accordance with the small companies regime and lake advanlage of the small companies, exemptlons in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fulty in the statement of Trustees, responslbllltles, the Trustees, who are also the directors of the charitsble company for the purpose of company law, are responsible for the preparation of Ihe financial statements and for being satisfied that they give a true and fair vlew, and for such internal conlrol as the Truslees detemiine is necessary to enable the preparalion of financial statements that are free from malerial misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, malters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidale the charitable company or to cease operations, or have no realistic alternative but to do so. Audltor's responsibilities for the audit of thè flnanclal statements Our objectives are to obtain reasonable assurance about whether thp. finxnr.iAI *tAlp.mp.ntq A8 A whr)Ip. arp. frp.p. from material misstatement, whether due to fraud or error. and to issue an audito¢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 li exists. Misstatements can arise from fraud or error and are considered malemal 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. 10-
THE NEHEMIAH PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE NEHEMIAH PROJECT Extent to whlch the audlt was capable of detectlng iyregularlties, Includlng fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delect malerial misslalernenls 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 lo underfying supporting documentation to assess compliance with those laws and regulations having an Impact on the financlal statements and disclosure requirements. particular, Accounting and Reporting by Charities.. Statement of Recommended Practice., Enquiries and confirmation of management and the trustees as to their identification of any nonwcompliance with laws or regulations, or any actual or potentlal claims., Review of minutes of the Board meetings during the period., Incorporatlng unpredictability into the nature. timing andlor extent of testing. Evaluatlon of Ihe selection and application of the accounting policies chosen by the charity. In relation to the risk of management override of intemal controls, by undertaking procedures lo review joumal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud,. and We assessed the sus¢eptibility of the charity's financial statements to material misstatement, inciuding how fraud might occur by considering the key rlsks impacting the financial statements. Our audit procedures were deslgned to respond to risks of materlal misstatement In the financial ststements, recognislhg that the risk of not detecting a material misstatement due to fraud is higher than the risk of nol 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 fijrther descrfption of our responsibilities for the audit of the financial statements Is Ioc8ted on the Financial Reportlng Council's website at.. http.'Ilww.frc.org.uklauditorsresponsibilities. This description fomis part of our audito¢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 Acl 2014. Our audit work has been undertaken so that we might state to the company's members those matters we are required lo state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do nol accept or assume responslbillty 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. Katherine Dee FCA (Senlor Statutory Audltor) for and on behalf of Begbies Chartered Accountants statutory Auditor 9 Bonhill Street London EC2A 4DJ 11
THE NEHEMIAH PROJECT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current flnanclal year Unrestricted Restricted funds funds 2024 2024 Total Total 2024 2023 Notes Income from: Donations and legacies ChaTrtable activities Investments- bank interesl 357,651 478,582 6,658 251.683 609,334 478.582 6,658 576,736 486.286 1,916 Totsl income 842,891 251.683 1,094,574 1,064,938 Ex endlture on.. Raising funds 78,018 78,018 61,973 Charitable activities Supported Housing Programme A New Future Online 734,044 275,165 1,009,209 881,990 1,000 Totsl charitable expenditure 734,044 275,165 1,009,209 882,990 Total resources expended 812,062 275,165 1,087,227 944,963 Net Incomel(expenditure> forthe yearl Net movement In funds 30,829 (23,482) 7,347 119,975 Fund balances at 1 January 2024 961,548 27,88S 989,433 869,458 Fund balantes at 31 December 2024 992,377 4,403 996.780 989,433 The slatomcnt of financial activitie includc•*J all gainoo and recognised in th8 yéar, 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 activilies also complies with the requirements tor an income and expenditure account underthe CompaniesAcl 2006. 12
THE NEHEMIAH PROJECT STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prior financial year Unrestricted Restricted funds funds 2023 2023 Tolal 2023 Notes Income from: Donalions and legacies Charitable activities Investmenls 284.357 486,286 1,916 292.379 576,736 486.286 1,916 Total income 772,559 292,379 1,064,938 eiidSture on,. Raislng funds 61,973 61,973 Charilable activities Supported Houslng Programme A New Future Online 602,818 1,000 279,172 881,990 1,000 Total charltable expendlturè 603,818 279,172 882,990 Total resources expended 665,791 279,172 944,963 Net incomingl(outgoing) resources before transfers 106,768 13,207 119,975 Gross transfers beeen funds 2.817 (2.8171 Net incomellexpenditurel for the yearl Net incomingl(outgoing) resources 109,585 10,390 119,975 Fund balances at 1 January 2023 851.963 17.495 869,458 Fund balances at 31 Decembcr 2023 961,548 27,885 989,433 The statement of financial activities Includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from contlnuing aGlivities. The statement of financial actlvlties also complies wilh the requlrements for an Income and expendlture account underlhe CompaniesAct 2006. 13-
THE NEHEMIAH PROJECT BALANCE SHEET ASAT31 DECEMBER 2024 2024 2023 Not•s Flxed assets Tangbla assets 11 899,384 895.083 Current a¥¥ets Debtors Cash al bank and in hand 12 43,215 354,642 64,088 423,166 397.857 487.234 Cr¢dltors: amounts falllng due wlthln ono year 13 (156.708) 1189,8231 Nat current a$Eets 241,149 297.411 Totsl a3$ets It ounpnt Ilabllltle¥ 1.140,533 1,192,494 rodilors: amounts talllng due aftgr fflore Ihan one year 14 143,753) 1203.0611 Not assets 996,780 989,433 In¢ome funds Reslrlcted fund 19 4,403 27,885 liin Designated fvnds Garwal unrlI1d funds 18 810.198 182.179 805.083 156,465 992,377 961.548 996.780 989,433 ThB8e financial staternenls have t)een prepared in accordan vthh the wovtsions appIlble to rXjmp)Ies sjbject to Ihe sfflall MpanIeS r8gim&. Company Rogl$tratlon No. 32558SO 14_
THE NEHEMIAH PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash (absort)ed byllgenerated from operations 24 (51,9711 255,739 Investing activities Purchase of tsngible fixed assets Investment income received 113.093) 6,658 16,359) 1,916 Net cash used in investlng actlvltles (6,4351 {4,443) Flnancing activities Repayment of bank loans (10,118) (9,870) Net cash used In flnanclng actlvltles (10,1181 (9,870) Net (decreasalllncreas8 In cash and ca$h equivalents {68,5241 241,426 Cash and cash equlvalents at beginning of year 423,166 181,740 Cash and cash equivalent8 at end of year 354,642 423,168 15
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles Charity information The Nehemiah Project is a private company limited by guarantee incorporated in England and Wales. The iegislered office is 47 Tooting Bec Gardens, London, SW16 IRF. 1.1 Accounting convention The financial ststements have been prepared in accordance with the chaiitable company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounling 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. Monelary amounts in these financial statements are rounded to the nearest £. The financial statemenls have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern 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 reseNes of the charity are very low. However the charSty has cash available lo meet day to day activities due lo the struclure of long term borrowing. The charity also owns the freehold premises at 47 Tooting Bec Gardens which is stated in these accounls al cost. The trustees are of the opinion that were the charity in need offunds, fvrther borrowing could be secured In the short term or the property could be sold. 1.3 Charftable funds Unrestricled fvnds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Designated funds are a category of unrestricted fund set aside by the trustees for a specrfic 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. Reslricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to Ihe financial slatements. 1.4 Incomlng resources Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, Ihe amount5 can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. other don21ions are recogni5ed once the charitable company has been notified of the donation, unless performance conditions require deferral ol the amounl. Income lax 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 rf the charitable company has been nolified of an impending distribution, the amount is known, and recelpt Is expected. If the amount is not known, the legacy is treated as a contingent asset. 16
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles (Continued) Grants are recognised at the point when the charity is nolified of the grant and the charity is entilled to the income. Grants shown as donations are only deferred if they relate lo a specific future time period as identified by the donor or the charity has receFved the income, but there is no entitlement to spend the funds at Ihe year end. If the 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 chariiy. Grants are recognised as unrestricted if the donor either does not stale any restriction on use or the restriction is lo use funds for the supported housing projed, as this is the only activity undertaken by the charity- Grants Ihal are received for the general operation of the charity. rather than on the basis of a contract for seNices 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 incorne from charitable aclivilies and would be deferred to the extent the charity has yet lo fulfil Ihe perfonnance obligations. Housing beneffts and other rental contributions are accounted for when receivable. Income from fundraising activities includes ticket sales, receipis from charity auctions and other income which is egmed 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. 1.5 Resources expended 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 accordingty there is Ilttle general overhead cost. The costs of fundraising actlvities and reporting to funders are separately identifiable and directty 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 Leasehold improvements Fixtures, fittings & equipment Computers Over the life of the lease 25 % straight line 330/0 Straight line 17-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounling pollcles (Contlnued) 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 lancj and property is stated 31 cost and at the year end the open markel value was considered lo 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 a5 the difference belween the sale proceeds and the carrying value of the asset, and is recognised in net incomel{expendilure) for the year. 1.7 Impairment of fixed assets At each reporting end dale, the charitable company reviews the carrying amounts of its langible and intsngible assets to determine whether there is any indication that Ihose assets have suffered an impairment loss. If any SLJch indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the irnpairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash In hand, deposits held at call wlth banks, other short-term liquid investmenls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal Instruments The charitable company has elecled to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitable company's balance sheet when the chariiable company becomes party to the contractual provisions of the Instrument. Financial assets and liabilities are offsel, with the net amounts presenled in the financial statements, when there Is a legally enforceable right to set off the recognlsed amounts and there is an intention to settle on a net basis or lo realise the assel and settle the liability simuttaneously. Basic financial assets Basic financial a55ets, which Include debtors and cash and bank balances, are inttially measured at transaction price including Iransaclion costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as CeIVable within one year are nol 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 nol 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 dassified 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 cosl 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 beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Temiination benefits are recognised immediately as an expense when the Gharitable company is demonstrably committed to terminate the employmenl of an employee or to provide termination benefits. 18
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Aceountlng pollcles {Contlnued) 1.11 Rellrnment beneflts Payments lo deflned contributlon retirement benefft scheme8 are tharged as an expense as they fall due. 19-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacles Totsl Totsl 2024 2023 Donations and gifts Legacies receivable Grants towards ongoing operations Lessladd-. net deferred income Olher including London Marathon sponsorships 101,289 85,187 1.000 589,513 1128,0521 29,088 424,167 73,780 10,098 09,334 576,736 Note 25 contains details of donations by related parties. Total Total 2024 2023 Albert Gubay Charitable Trust Benefact Trust British Association of the Order of Malta Cicely Northcole Childs Charitable Trust Croydon Relief in Need Drapers, Charilable Funds Golden Bottle Trust Lambeth Digital Inclusion Fund Lloyds Bank Foundglion Mauiice & Hilda Lang Charitable Trust Sir Harold Hood Charitable Trust The 29th May 1961 Charitable Trust The AD CharitableTrust The Garfield Weston Foundation The Global Fund for Forgollen People The Henry Smith Charity The Jerusalem Trust The J P Getty JR Charitable Trust The Mackie Foundation The Monday Trust The Peter Slebbing Memorial Charity The Shanley Foundation The Society of the Holy Child Jesus The Charity of Sir Richard Whittington The Worshipful Company of Mercers The Worshipful Company ofVintneTS other £3,000 and below 50,000 14,667 30,000 30,000 10,000 5,000 15,000 20,000 5,000 13,500 25,000 10,000 4,000 5,000 20,000 50,000 5.000 20,000 192,622 40.000 52,000 40,000 40,000 5,000 30,000 100,000 30.000 50,000 5,000 4,000 10.000 29,000 25,000 8,000 20,890 424.167 589,512 -20-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charftsble actlvltle8 Supported hou81ng Income 2024 Supported houslng Income 2023 Houslng benefit and other rental income 478,582 486,286 Ralslng funds 2024 2023 Seeklng donatlons, grants 8nd lègacles staglng fundraising events staff costs 6,489 2,975 68,554 4,942 2,925 54,106 Costs of operatlng fundralslng 8v8nts 78,018 61,973 21
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number 17 17 Employment costs 2024 2023 Wages and salaries Social security costs Defined contribution pension costs 545,091 55.468 7,342 485.510 43,059 7,068 607,901 535,637 The number of employees whose annual remuneration, exduding employers, natlonal Insurance and pension contributions, was £60,000 or more were.. 2024 Number 2023 Number £60,001-£70,000 £70,001-£80,000 Pension contributions for hlgher pald staff total £2,642 (2023.. £2,642). The total termination and redundancy payments made during the yearwere £5,000 (2023.. nill. Net movèment in funds 2024 2023 The net movement in fvnds is stated after chargingl(crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 7,680 8,792 11,360 16.207 22-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charitable activitles Supported Supported Housing Housing Programme Programme 2024 2023 ANew Future Online 2023 Total 2023 Staff costs Depreciation and impairment Staff and volunteer expenses, recruitment and training Rent and rates Repairs and renewals Light and heat Motor and travel Residents needs Consultancy, clinical supervision and other professional fees Subscriptions and licences Cleaning materials and refuse disposal Food New Croydon houses set up and moving costs Insurance Programme costs Temporary & agency staff costs 475,140 8,792 615 144,402 23,461 53.812 1,008 8,505 419,189 16,207 3,110 131,107 19,401 46,466 862 8,183 1,000 420.189 16,207 3,110 131,107 19,401 46,466 862 8.183 36,22g 1,158 5,354 3,212 63.272 24,791 12,880 48,537 1,123 7,022 3,044 48,537 1,123 7,022 3,044 23,135 5,809 10,290 23,135 5,809 10,290 862,631 743,485 1,000 744,485 Share of support costs {see note 9) Share of governance costs (see note 9) 136,004 10.574 125,075 13,430 125,075 13,430 1,009,209 881,990 1,000 882,990 Analysis by fund Unrestricted funds Restricted funds 734,044 275,165 602,818 279,172 1,000 603,818 279,172 1.009,209 881,990 1.000 882.990 2024 supported housing consultancy fees includes £15,989 for counselling. £1,167 wellbeing servlces and £10,000 for Monitoring and evaluation. A New Future Online pilot project continued during the year using exisling internal staff resources. 2023 supported housing Gonsultancy fees includes £14,625 for counselling, £580 clinical supervision. £10,000 for monltoring and evaluation and £12,219 for peer mentoring. A New Future Online pilot project contlnued during the year using existing internal Staff resources. -23-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Descrlptlon of charltable activltles Su orted Housln Pro ramme Residential supported housing services for those recovering from addiclion. 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 programme is slill at pilot stage and no material direct cosls or general overheads arise are applicable to this activity. Support costs Support Governance Gosts costs 2024 2023 Slaff costs Printing. poslage and slationery Telephone staff recwitmenl HR support and professlonal fees Computer expenses Loan interest Sundry expenses Training and staff subscrlption costs 64,207 15,631 9,608 2,404 12,244 28,102 566 1,193 2.049 64,207 15,631 9,608 2,404 12,244 28,102 566 1.193 2,049 61,342 14.634 8,677 2,788 12,680 19,608 778 1,148 3,420 Audit fees Accountancy Legal and professional 7,680 1,394 1,500 7,680 1,394 1,500 11,360 2,070 136,004 10,574 146,578 138,505 Analysed between Charitable activities 136,004 10.574 146,578 138,505 Support costs are allocated to charitable activities in proportion to salary costs incurred. No material support costs relate to fundraising. Governance costs indudes payments to the auditors of £7,680 including VAT (2023- £7.680) for audit fees and £2,070 including VAT {2023- £2,070) forthe provision of managemenl accounts during the year. 10 Taxation The charity is exempt from tax on income and gains falling wilhin 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. -24-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Tangible flxed assets Land and Leasehold bulldlngs Improvements Flxtures. Ilttlngs & oqulpmant Computèrs Total Cost At 1 January 2024 Additions Disposals 884,094 15,845 11,039 (15,845) 161,878 2,054 63,425 1.125.242 13,093 115,845) At 31 December 2024 884,094 11,039 163,932 63,425 1,122,490 Depreclation and impairment At 1 January 2024 Depreciation charged in the year Eliminated in respect of disposals 15,845 158,405 2,213 55,909 6,579 230,159 8.792 115,845) (15,845) At 31 December 2024 160,618 62,488 223,106 Carrying amount At 310ecember 2024 884,094 11,039 3,314 937 899,384 At 31 December 2023 884,094 3,473 7,516 89J,083 12 Debtors 2024 2023 Amounts falling due within one year: Other debtors Prepayments and accrued income 25,370 17,845 44.622 19,446 43,215 64,068 13 Credltors: amounts falllng due within one year 2024 2023 Notes Bank loans Other taxation and social security Deferred income Trade creditors Accruals 15 10,390 14,025 99,184 16,152 16,957 9,700 12,137 124,464 28,112 15,410 16 156,708 189,823 -25-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loans Deferred income BriU8nd Charitable Trust loan 15 16 5.253 48,500 90,000 16,061 97,000 90,000 143.753 203,061 15 Loans and overdrafts 2024 2023 Bank and trust funding 105,643 115,761 Payable within one year Payable after one year 10,39D 95,253 9,700 106.061 During the 2020 year the charity repaid its Charity Bank loan with a Natwesl Bounce Back loan. The loan has a fixed interest rate of 2.5010 and is repayable over six years, with no interest or repayments for the first Iwelve months. The Bounce Back loan is unsecured. The £90,000 Brltland Trust loan is unsecured, non Interest bearing and has no fixed repayment date. No amounts have been recognised In the accounts for Ihe donation in kind of Interest forgone or in respect of discounting to net present value due to no agreed schedule of repayments. 16 Deferred income 2024 2023 Performance related grants Grants for a fulure time period 13,108 208,356 147,684 147,684 221.464 Deferred income is includeLI in the financial statements as follows.. 2024 2023 Current liabilities Non-current liabilities 99,184 48,500 124,464 97,000 147,684 221,464 -26-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Deferred Income (Continued) Defeed income include5 £97,000 from the Global Fund for Forgotten People which has been given to the Charity for 2025 to 2026 on the closure of the organisation. with no entitlement to access the funding earlier. 17 Retirement benefit schemes 2024 2Q23 Defined contribution schemes Charge to profit or loss In respect of defined contribution schemes 7,342 7.068 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. 18 Unrestricted funds The unrestricted income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specrfic purposes: At 1 January 2024 Incomlng resources Resources expended Transfers At31 December 2024 Property capitsl fund General funds 805,083 156,465 13,093 829,798 (7,9781 (804,084) 810,198 182.179 961.548 842,891 1812.062) 992,377 Previous year: At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 Property capital fund General funds 814,931 37,032 3,542 769,017 116,2071 (649,5841 2,817 805.083 156,465 851,963 772,559 665,791 2,817 961,548 Property capital fund Income Invested in the charlty's resldential homes, furnlshlngs and equlpment. The Britland Trust loan was made to the charity to fund the purthase of 47 Tooting Bec Gardens and has been allocaled to this fund to identify where resources are used. -27-
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THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Limited by guarantee The charitable company's legal structure is that ot a company limited by guarantee. In the event of the company winding-up each member is liable to contribute to any deficit lo a maximum of £1 per member. 22 Analysi5 of changes in net funds At l January 2024 Cash flows At 31 DeG¢mber 2024 Cash at bank and in hand 423,166 168,5241 354,642 Loans falling due within one year Loans falling due after more than one year {9,7001 116,0611 1690) 10,808 (10,390) {5,253) 397,405 158,406) 338,999 23 Operating lease commltments Le9see The 'Move On. house and Pountney Road are rented from Sanctuary Housing Trust under a management agreement. The agreed prevailing rent is £41,341 and £18,498 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. The two year agreement runs to 31st March 2026. There is a 12 month notice period to end the contract and so at the year end the charity was committed to a further 12 months rent. Fredrick Gardens was occupied on a lease due to terminate in September 2025 with an annually reviewed rent. The lease was ended within the year by mutual agreement. and no further liability exists 81 the year end. 98 Lodge Road was occupled on a lease due to terminate in September 2025 with an annually reviewed rent. The lease was ended within the year by mutual agreement. and no further liability exists al the year end. In exchange for leaving Fredrick Gardens and 98 Lodge Road. the landlord supplied three new properties. 38 Oakfield Road, 15 Thornhill Road and 51 Thornhill are occupied on len year leases until 3rd December 2034. There Is a break clause on 4th December 2029 wrth a 12 month notice period. The below figure includes the first 5 years of rent at the prevailing rents of £26,000, £24,500 and £24,500 respectively. The total ofthe above payments is £444,909. 30-
THE NEHEMIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 24 Cash generated from operatlDns 2024 2023 Surplus for the year 7,347 119.975 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of langlble fixed assets (6,658) 8,792 {1,916) 16,207 Movements in working capital.. Decrease in debtors (Decrease) in creditors (Decrease)fincrease in deferred income 20,853 18,5251 173,780) 36,827 (43,4061 128,052 Cash (absorbed by)Igenerated from operatlons (51,971) 255,739 25 Related party transactlons Mr R. Atwater, Mr G. Boyle and Miss J. Whitaker are all members of Ihe Sovereign Military Hospitaller Order of St John of Jerusalem, of Rhodes and of Malta (the Order of Mallal. The Nehemiah Project has received significant financial gSSlStance 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 operatlons during the year, but continues activities from the Vatican. The Trustees Report contains detai15 of the work carried out with this funding and the income is disclosed in note 2. During the year the charity received £12,944 {2023- £20,022) in giving from Trustees. These funds were not subject to any restrictions to activities beyond those normalty undertaken by the charity. The charity purchased trustees liability insurance as part of a combined insurance package and accordingly no cost has been attrlbuted to governance and support costs. None of Ihe Trustees (or any persons connected with them) received any remuneration, travel expenses or benefits from the charitable company during the year {202& nil). Remuneration of key management personnel The remuneration of key management personnel is as follows. 2024 2023 Aggregate compensation including pension and employers, national insurance 86,825 83,063 No financial guarantees have been given or received by related parties. 31