**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 2025**
## **THE NEHEMIAH PROJECT**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 4|
|Independent auditor's report|5 - 7|
|Statement of financial activities|8 - 9|
|Balance sheet|10|
|Statement of cash flows|11|
|Notes to the financial statements|12 - 28|
## **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|
||EC2A 4DJ|
|**Bankers**|NatWest plc|
||NatWest Bank Plc|
||145 Clapham High Street|
||London|
||SW4 7SN|
|**Solicitors**|Bates Wells|
||10 Queen Street Place|
||London|
||EC4R 1BE|
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 NEHEMIAH PROJECT**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The Trustees present their report and accounts for the year ended 31 December 2025.
## **Objectives and activities**
The Nehemiah Project has nearly 30 years’ experience of working with men with a history of addiction. Our clients are amongst the most marginalised and excluded individuals in society, with multiple and complex needs.
Our objectives are:-
- To enable vulnerable men to break free from crime and addiction and to help them rebuild their lives
- To assist in their reintegration into the community by providing supported housing and rehabilitation programmes.
- To build resilience such that men can face life’s challenges without reverting to old behaviours.
## **Key achievements 2025**
Miriam Kennedy was appointed CEO in September 2025
In the past twelve months:
- We worked with 52 men, extending the average time that Residents stayed at Nehemiah.
- 33 men joined A New Future, our 13-week Recovery programme, with 25 Graduating (75%).
- 28 Residents were in employment, training or regularly volunteering.
- 22 Residents benefitted from our Family Support programme, with 8 Residents rebuilding family relationships.
- 180+ hours of volunteer's time has been spent with residents
- We have continued our peer-mentoring programme for new Residents, in partnership with The Forward Trust, training all graduate Nehemiah Residents and some volunteers as Peer Mentors.
- We continued to deliver ‘A Brighter Future’ – our second-stage programme, once a week in the evenings; this is co-delivered by the men themselves and facilitated by a full time move-on co-ordinator.
- 1 -
## **THE NEHEMIAH PROJECT**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
A New Future is a rolling 13 week, 12 module programme which men can join at any point. It is delivered each weekday morning, focusing on recovery and resettlement through group work and education. Residents work through issues together, sharing experiences, and learning to resolve conflict.
After graduating from A New Future men are equipped to move onto stage 2- A Brighter Future programme. This work focuses on education, employability, training, family reconciliation and maintaining abstinence. This area of work can last up to 18 months and in the later stages focuses on independent living and structured life skills.
## **Priorities for 2026**
- Strengthen the financial and operational foundations of the Charity for future growth.
- Improving the 'Signposting' within prisons and elsewhere towards Nehemiah for those who can most benefit.
- Invest in staff training and well being.
## **Financial Review**
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 2016).
## **Reserves**
Trustees target cash reserves equivalent to three months’ operating costs, around £270k. The Charity aims to build its reserves to a point that could allow additional property growth. Nehemiah’s general unrestricted funds at the end of 2025 stood at £290,616 an increase of £107,623 from 2024.
## **Income and expenditure**
Donations and legacies were £595,058 in 2025, 2% less than in 2024. Housing benefit was £554,917, 16% above 2024. Including investments (£7,160) this led to total income of £1,157,135, 5.7% above 2024. Overall expenditure was £1,054,675, down 3% on 2024. The resulting surplus was £102,460 in 2025 compared to £7,347 in 2024.
## **Assets**
The Charity’s tangible fixed assets were £895,179 at 31 December 2025. Designated funds include the £805,179 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.
## **Approach to fundraising**
The majority of our funding for operational costs comes from grants and donations, for which we are grateful. 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.
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. We keep up to date on changing regulation and ensure we comply with it by changing processes where necessary. In the financial year ending 31 December 2025 we did not receive any complaints about our fundraising and did not engage any third-party fundraisers.
In 2025 we succeeded in increasing our income from other sources, notably from individuals and churches. However, like other charities, we found it harder to raise funds from trusts and foundations, the main source of voluntary funding in the past. For 2026 therefore, we will change our approach to fundraising from trusts and foundations, reducing the associated employment costs.
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## **THE NEHEMIAH PROJECT**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **Structure, governance and management**
The Trustees, who are the Directors for the purposes of company law, and who served during the year were:
Mr. T. B. Aikens Mr P Sieyes Mr. W. Ansell Mrs O Olayisade Mr E. Bathgate Mr. A. P. Watson Mr. G. S. Boyle Miss J. S. Whitaker Mrs. R. Campbell-Colquhoun (joined 12/12/25) Miss M. B. Musolino Mr R Clarke Mr. C. Matthews
Trustees are appointed by resolution of the existing Trustees. New Trustees undergo an induction covering decision-making processes, key employees and future plans and objectives. They are also advised about their legal obligations as Trustees.
The Trustees meet quarterly and as two separate Sub-committees, The Finance 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 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**
Day-to-day management, including finance, HR and operations, is the responsibility of the CEO. She 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 Charity sets the remuneration of the key management personnel from a review of comparable organisations within the sector.
## **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 Nehemiah faces. All areas are RAG rated, with high priority areas separately highlighted and reported. The charity obtains a comprehensive insurance policy
## **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 agreement 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 (CCHA). The Charity has a ten year lease with CCHA for these properties, terminating in 2034.
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## **THE NEHEMIAH PROJECT**
## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position 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.
The Trustees' Report was approved by the Board of Trustees.
……………………………………………………………………………………… Mr C. Matthews (Chair) Trustee
29/04/2026 Dated: ...............................................................
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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 2025 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:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
- the directors' 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 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:
- 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 statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a strategic report.
## **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://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Katherine Dee FCA (Senior Statutory Auditor)**
For and on behalf of Begbies, Statutory Auditor Chartered Accountants 9 Bonhill Street London EC2A 4DJ Date: .........................
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## **THE NEHEMIAH PROJECT**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Current financial year**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
387,966
207,092
Charitable activities
**4**
554,917
-
Investments- bank interest
7,160
-
**Total income**
950,043
207,092
**Expenditure on:**
Raising funds
**5**
78,031
-
Charitable activities
Supported Housing Programme
**7**
768,594
208,050
**Total charitable expenditure**
768,594
208,050
**Total resources expended**
846,625
208,050
**Net income/(expenditure) for the year/**
**Net movement in funds**
103,418
(958)
Fund balances at 1 January 2025
992,377
4,403
**Fund balances at 31 December 2025**
1,095,795
3,445|**Total**
**2025**
**£**
595,058
554,917
7,160
1,157,135
78,031
976,644
976,644
1,054,675
102,460
996,780
1,099,240|Total
2024
**£**
609,334
478,582
6,658|
|---|---|---|
|||1,094,574|
|||78,018
1,009,209|
|||1,009,209|
|||1,087,227|
|||7,347
989,433|
|||996,780|
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 continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 8 -
## **THE NEHEMIAH PROJECT**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **Prior financial year**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
357,651
251,683
Charitable activities
**4**
478,582
-
Investments
6,658
-
**Total income**
842,891
251,683
**Expenditure on:**
Raising funds
**5**
78,018
-
Charitable activities
Supported Housing Programme
**7**
734,044
275,165
**Total charitable expenditure**
734,044
275,165
**Total resources expended**
812,062
275,165
**Net income/(expenditure) for the year/**
**Net incoming/(outgoing) resources**
30,829
(23,482)
Fund balances at 1 January 2024
961,548
27,885
**Fund balances at 31 December 2024**
992,377
4,403|**Total**
**2024**
**£**
609,334
478,582
6,658|
|---|---|
||1,094,574|
||78,018
1,009,209|
||1,009,209|
||1,087,227|
||7,347
989,433|
||996,780|
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 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 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
**Current assets**
Debtors
**12**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**13**
Net current assets
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
**14**
**Net assets**
**Income funds**
Restricted funds
**19**
Unrestricted funds
Designated funds
**18**
General unrestricted funds|**2025**
**£**
**£**
895,179
68,588
327,324
395,912
(101,851)
294,061
1,189,240
(90,000)
1,099,240
3,445
805,179
290,616
1,095,795
1,099,240|**2024**
**£**
**£**
899,384
43,215
354,642
397,857
(156,708)
241,149
1,140,533
(143,753)
996,780
4,403
809,384
182,993
992,377
996,780|
|---|---|---|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
23/04/2026
The accounts were approved by the Trustees on .........................
.............................. C Matthews **Trustee**
## **Company Registration No. 3255850**
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## **THE NEHEMIAH PROJECT**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Notes**
**Cash flows from operating activities**
Cash absorbed by operations
**24**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash generated from/(used in)**
**investing activities**
**Financing activities**
Repayment of bank loans
**Net cash used in financing activities**
**Net decrease in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**
**Relating to:**
Cash at bank and in hand
CCLA deposit units|**2025**
**£**
(511)
7,160
(10,370)|**£**
(23,597)
6,649
(10,370)
(27,318)
354,642
327,324
222,545
104,779|**2024**
**£**
(13,093)
6,658
(10,118)|**£**
(51,971)
(6,435)
(10,118)
(68,524)
423,166
354,642
186,955
167,687|
|---|---|---|---|---|
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## **THE NEHEMIAH PROJECT**
## **STATEMENT OF CASH FLOWS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Critical accounting estimates and judgements**
In the application of the charitable company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **2 Accounting policies**
## **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.
## **2.1 Accounting convention**
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.
## **2.2 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 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.
## **2.3 Charitable funds**
Unrestricted funds 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 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 or grantors 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.
## **2.4 Incoming resources**
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.
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## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **2 Accounting policies**
**(Continued)**
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.
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. 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 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.
## **2.5 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 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.
- 13 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **2 Accounting policies**
## **(Continued)**
## **2.6 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
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.
## **2.7 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).
## **2.8 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.
## **2.9 Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other 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 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.
- 14 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **2 Accounting policies**
## **(Continued)**
## _**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.
## **2.10 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.
## **2.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
- 15 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **3 Donations and legacies**
|Donations and gifts
Grants towards ongoing operations
Less/add: net deferred income
Other including London Marathon sponsorships
Note 25 contains details of donations by related parties.
Anonymous
Benefact Trust
British Association of the Order of Malta
Croydon Relief in Need
Drapers' Charitable Funds
Lambeth Digital Inclusion Fund
Sir Harold Hood Charitable Trust
The 14th May Foundation
The 29th May 1961 Charitable Trust
The AD CharitableTrust
The Garfield Weston Foundation
The Henry Oldfield Trust
The Henry Smith Charity
The J P Getty JR Charitable Trust
The Jerusalem Trust
The Joseph Rank Trust
The Mackie Foundation
The Monday Trust
The Shanley Foundation
The Society of the Holy Child Jesus
The Worshipful Company of Mercers
Other £3,000 and below|**Total**
**2025**
**£**
220,353
275,880
91,684
7,141
595,058
**Total**
**2025**
**£**
49,998
14,667
45,000
-
-
-
-
20,000
-
-
50,000
5,000
-
-
21,500
15,000
30,000
-
-
10,000
-
14,715
275,880|Total
2024
£
101,289
424,167
73,780
10,098|
|---|---|---|
|||609,334|
|||Total
2024
£
-
14,667
30,000
15,000
20,000
13,500
4,000
-
5,000
20,000
50,000
-
40,000
5,000
40,000
-
30,000
100,000
4,000
-
25,000
8,000|
|||424,167|
- 16 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **4 Charitable activities**
||**Supported**|Supported|
|---|---|---|
||**housing**|housing|
||**income**|income|
||**2025**|2024|
||**£**|£|
|Housing benefit and other rental income|554,917|478,582|
|**Raising funds**|||
||**2025**|**2024**|
||**£**|**£**|
|Seeking donations, grants and legacies|4,496|6,489|
|Staging fundraising events|2,220|2,975|
|Staff costs|71,315|68,554|
|Costs of operating fundraising events|78,031|78,018|
## **5 Raising funds**
- 17 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **6 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|**Number of employees**
The average monthly number of employees during the year was:|||
|---|---|---|
|**Employment costs**
Wages and salaries
Social security costs
Defined contribution pension costs|**2025**
**Number**
19
**2025**
**£**
554,870
56,650
7,740
619,260|**2024**
**Number**
17|
|||**2024**
**£**
545,091
55,468
7,342|
|||607,901|
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:|||
|---|---|---|
||**2025**|**2024**|
||**Number**|**Number**|
|£60,001-£70,000|1|1|
|£70,001-£80,000|-|1|
Pension contributions for higher paid staff total £1,321 (2024: £2,642). The total termination and redundancy payments made during the year were nil (2024: £5,000).
- 18 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **7 Charitable activities**
||**Supported**|
**Supported**|
|---|---|---|
||**Housing**|
**Housing**|
||**Programme**|**Programme**|
||**2025**|**2024**|
||**£**|**£**|
|Staff costs|480,850|475,140|
|Depreciation and impairment|4,716|8,792|
|Staff and volunteer expenses, recruitment and training|15,796|615|
|Rent and rates|160,916|144,402|
|Repairs and renewals|17,708|23,461|
|Light and heat|47,199|53,812|
|Motor and travel|945|1,008|
|Residents needs|1,739|11,717|
|Consultancy, clinical supervision and other professional fees|24,456|36,229|
|Subscriptions and licences|1,007|1,158|
|Cleaning materials and refuse disposal|7,746|5,354|
|New Croydon houses set up and moving costs|2,941|63,272|
|Insurance|24,696|24,791|
|Programme costs|11,410|12,880|
||802,125|862,631|
|Share of support costs (see note 9)|161,860|136,004|
|Share of governance costs (see note 9)|12,659|10,574|
||976,644|1,009,209|
|**Analysis by fund**|||
|Unrestricted funds|768,594|734,044|
|Restricted funds|208,050|275,165|
||976,644|1,009,209|
2025 supported housing consultancy fees includes £5,568 for counselling, £2,283 for clinical supervision, £10,000 for monitoring and evaluation and £6,605 for peer mentoring.
2024 supported housing consultancy fees includes £15,989 for counselling, £1,167 wellbeing services and £10,000 for monitoring and evaluation.
## **8 Description of charitable activities**
## Supported Housing Programme
Residential supported housing services for those recovering from addiction.
- 19 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **9 Support costs**
|Staff costs
Printing, postage and stationery
Telephone
Staff recruitment
HR support and professional fees
Computer expenses
Loan interest
Sundry expenses
Training and staff subscription costs
Audit fees
Accountancy
Legal and professional
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
67,095
-
8,034
-
18,428
-
21,737
-
11,034
-
19,875
-
278
-
11,589
-
3,790
-
-
7,761
-
2,760
-
2,138
161,860
12,659
161,860
12,659|**2025**
**£**
67,095
8,034
18,428
21,737
11,034
19,875
278
11,589
3,790
7,761
2,760
2,138
174,519
174,519|**2024**
**£**
64,207
15,631
9,608
2,404
12,244
28,102
566
1,193
2,049
7,680
1,394
1,500|
|---|---|---|---|
||||146,578|
||||146,578|
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 (2024- £7,680) for audit fees and £2,070 including VAT (2024- £2,070) for the provision of management accounts during the year.
## **10 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.
- 20 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**11**
**Tangible fixed assets**
**Cost**
At 1 January 2025
Additions
At 31 December 2025
**Depreciation and impairment**
At 1 January 2025
Depreciation charged in the year
At 31 December 2025
**Carrying amount**
At 31 December 2025
At 31 December 2024
**12**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one**
Bank loans
Other taxation and social security
Deferred income
Trade creditors
Accruals|**Land and**
**buildings**
**Leasehold**
**improvements**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
**£**
884,094
11,039
163,932
-
-
-
884,094
11,039
163,932
-
-
160,618
-
2,208
1,399
-
2,208
162,017
884,094
8,831
1,915
884,094
11,039
3,314
**year**
**Notes**
**15**
**16**||**Computers**
**£**
63,425
511
63,936
62,488
1,109
63,597
339
937
**2025**
**£**
50,381
18,207
68,588
**2025**
**£**
5,273
16,165
56,000
4,503
19,910
101,851|**Total**
**£**
1,122,490
511|
|---|---|---|---|---|
|||||1,123,001|
|||||223,106
4,716|
|||||227,822|
|||||895,179|
|||||899,384|
|||||**2024**
**£**
25,370
17,845|
|||||43,215|
|||||**2024**
**£**
10,390
14,025
99,184
16,152
16,957|
|||||156,708|
- 21 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **14 Creditors: amounts falling due after more than one year**
|**Creditors: amounts falling due after more than one year**|||
|---|---|---|
|**Notes**
Bank loans
**15**
Deferred income
**16**
Britland Charitable Trust loan
**Loans and overdrafts**
Bank and trust funding
Payable within one year
Payable after one year|**2025**
**£**
-
-
90,000
90,000
**2025**
**£**
95,273
5,273
90,000|**2024**
**£**
5,253
48,500
90,000|
|||143,753|
|||**2024**
**£**
105,643|
|||10,390
95,253|
## **15 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.
- 22 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**16**
**Deferred income**
Grants for a future time period
Deferred income brought forward
Released during the year
Deferred in the year
Current liabilities
Non-current liabilities|**2025**
**2024**
**£**
**£**
56,000
147,684
**2025**
**2024**
**£**
**£**
147,684
221,464
(99,184)
(124,464)
7,500
50,684
56,000
147,684
**2025**
**2024**
**£**
**£**
56,000
99,184
-
48,500
56,000
147,684|**2024**
**£**
147,684|
|---|---|---|
|||147,684|
|||**2024**
**£**
99,184
48,500|
|||147,684|
Deferred income includes £48,500 (2024:£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**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|7,740|7,342|
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.
- 23 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **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 specific purposes:
|**At**
Property capital fund
Operational reserve
**Previous year:**
**At**
Property capital fund
General funds|**1 January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2025**
**£**
**£**
**£**
**£**
809,384
511
(4,716)
805,179
182,993
949,532
(841,909)
290,616
992,377
950,043
(846,625)
1,095,795
**1 January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
805,083
13,093
(8,792)
809,384
156,465
829,798
(803,270)
182,993
961,548
842,891
(812,062)
992,377|
|---|---|
Property capital fund - Income invested in the charity's residential homes, furnishings and equipment. The Britland Trust loan was made to the charity to fund the purchase of 47 Tooting Bec Gardens and has been allocated to this fund to identify where resources are used.
- 24 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **19 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**Balance at**
**1 January 2024**
**r**
**£**
Family support programme
-
Salaries Fund
1,501
A New Future/Brighter Future supported housing
-
Programme expansion
-
Training
450
Property repairs and refurbishments
-
IT costs
10,002
Residents needs and staff items
4,957
Counselling
975
Online programme
10,000
Residents mentoring programme
-
27,885|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
15,000
(15,000)
90,914
(92,415)
59,500
(69,500)
36,300
(36,300)
-
(450)
-
-
13,500
(23,252)
7,761
(9,151)
15,600
(15,989)
-
-
13,108
(13,108)
251,683
(275,165)|**Movement in funds**
**Transfers**
**Balance at**
**1 January 2025**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 December**
**2025**
**£**
**£**
**£**
**£**
**£**
-
-
3,750
(3,750)
-
-
-
70,417
(70,417)
-
10,000
-
117,928
(117,928)
-
-
-
-
-
-
-
-
-
-
-
-
-
714
(714)
-
-
250
-
(250)
-
-
3,567
10,383
(10,711)
3,239
-
586
3,900
(4,280)
206
(10,000)
-
-
-
-
-
-
-
-
-
-
4,403
207,092
(208,050)
3,445|**Movement in funds**
**Transfers**
**Balance at**
**1 January 2025**
**Incoming**
**resources**
**Resources**
**expended**
**Balance at**
**31 December**
**2025**
**£**
**£**
**£**
**£**
**£**
-
-
3,750
(3,750)
-
-
-
70,417
(70,417)
-
10,000
-
117,928
(117,928)
-
-
-
-
-
-
-
-
-
-
-
-
-
714
(714)
-
-
250
-
(250)
-
-
3,567
10,383
(10,711)
3,239
-
586
3,900
(4,280)
206
(10,000)
-
-
-
-
-
-
-
-
-
-
4,403
207,092
(208,050)
3,445|
|---|---|---|---|
||||3,445|
- 25 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **19 Restricted funds**
**(Continued)**
Family Support Programme To fund work with families Salaries Fund To fund the cost of specific salaries and posts A New Future/ Brighter Future supported housing To fund the cost of the first stage and second stage rehabilitation programme Programme expansion To fund expansion and moving premises Training To fund personal development training IT costs To fund IT improvements Residents needs Personal grants and other items for residents Counselling To fund the costs of a professional counsellor Online Programme To fund the costs of delivering the new online programme Residents mentoring programme To fund the costs of residents peer mentoring Volunteers To fund volunteering costs
The 2024 transfer in funds represents a change in the donor requirements.
## **20 Analysis of net assets between funds**
|**Unrestricted**
**free reserve**
**Property**
**capital fund**
**Restricted**
**funds**
**2025**
**2025**
**2025**
**£**
**£**
**£**
Fund balances at 31 December 2025 are
represented by:
Tangible assets
-
895,179
-
Current assets/(liabilities)
290,616
-
3,445
Long term liabilities
-
(90,000)
-
290,616
805,179
3,445|**Total**
Unrestricted
free reserve
Property
capital fund
**2025**
2024
2024
**£**
£
£
895,179
-
899,384
294,061
188,246
-
(90,000)
(5,253)
(90,000)
1,099,240
182,993
809,384|Restricted
funds
2024
£
-
52,903
(48,500)
4,403|Total
2024
£
899,384
241,149
(143,753)
996,780|
|---|---|---|---|
- 26 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **21 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.
## **22 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 £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 and so at the year end the charity was committed to a further 3 months rent.
38 Oakfield Road, 15 Thornhill Road and 51 Thornhill are occupied on ten year leases until 3rd December 2034. The lease allows for rent increases. There is a break clause on 4th December 2029 with a 12 month notice period. The below figure includes the remaining 4 years of rent until the break clause at the prevailing rents of £26,704, £25,160 and £25,160 respectively.
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years|**2025**
**£**
91,984
231,072
323,056|**2024**
**£**
132,909
312,000|
|---|---|---|
|||444,909|
## **23 Analysis of changes in net funds**
|**Analysis of changes in net funds**||||
|---|---|---|---|
||**At 1 January**|**Cash flows At**|**31 December**|
||**2025**||**2025**|
||**£**|**£**|**£**|
|Cash at bank and in hand|354,642|(27,318)|327,324|
|Cash equivalents|167,687|(62,908)|104,779|
||522,329|(90,226)|432,103|
|Loans falling due within one year|(10,390)|5,117|(5,273)|
|Loans falling due after more than one year|(5,253)|5,253|-|
||506,686|(79,856)|426,830|
- 27 -
## **THE NEHEMIAH PROJECT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**24**
**Cash generated from operations**
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
(Decrease) in creditors
(Decrease) in deferred income
**Cash absorbed by operations**|**2025**
**£**
102,460
(7,160)
4,716
(25,373)
(6,556)
(91,684)
(23,597)|**2024**
**£**
7,347
(6,658)
8,792
20,853
(8,525)
(73,780)|
|---|---|---|
|||(51,971)|
## **25 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 3.
During the year the charity received £62,211 (2024- £12,944) 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 (2024- nil).
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Aggregate compensation including pension and employers' national insurance|88,648|86,825|
No financial guarantees have been given or received by related parties.
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