**Charity registration number 1070611 (England and Wales) Company registration number 3453945** 4 a| 

# **CLAREMONT PROJECT (ISLINGTON)** pal | **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** , **FOR THE YEAR ENDED 31 MARCH 2025** a 



## **CLAREMONT PROJECT (ISLINGTON)** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

## **Trustees** 

|**Trustees**|||
|---|---|---|
|**Trustees**|D Brain||
||**N**Fuller||
||J Douglas||
||Rev**MAii**||
||S Mook|(Appointed 24 June 2024)|
||S Berrill||
|**Secretary**|||
|**Charity number (England and Wales)**|1070611||
|**Company number**|3453945||
|**Independent examiner**|Frances Wilde FCCA DChA||
||Warner Wilde Limited||
||Chartered Certified Accountants||
||4 Marigold Drive||
||Sisley||
||Surrey||
||GU24 9SF||





CLAREMONT PROJECT (ISLINGTON)
CONTENTS
Page
Charity report
Independent examine￿¥ report
Statement of financial activities
10
Balan￿ sheet
11
Slalemenl of cash flow5
12
Notes lo the financial statements
13-23

## **CLAREMONT PROJECT (ISLINGTON)** 

## **CHARITY REPORT (INCLUDING DIRECTORS' REPORT)** 

## _**FOR THE YEAR ENDED 31 MARCH 2025**_ 

The trustees present their annual report and financial statements for the year ended 31 March 2025. 

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 charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". 

## **Objectives and activities** 

## **a. Policies and objectives** 

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. 

The charity identified the following objectives for the financial year 2024-25: 

1. To serve at least 850 older people as core active members, especially those most isolated or otherwise disadvantaged. 

2. To provide at least 20,000 attendances. 3, To serve at least an average of 24 psychotherapy clients at any one time. 4. To see average CORE scores improve from a clinical status to a normal status across all dimensions for men and women and to see significant improvements in WEMWBS scores. 

5. To repair our roof and install insulation to radically improve our carbon footprint. 

6. To promote the creation of new projects aimed at improving mental wellbeing. 

7. To continue to build a sustainable economic model for the charity. 

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. 

## **b. Review of activities** 

Details of the achievements of the charity during the year were as follows: 

1. To serve at least 850 older people as core active members, especially those most isolated or otherwise disadvantaged. 

We served 924 officially registered members, alongside a number of other older people who joined our activities but who did not join as members or did not come more than 4 times. These non-members include friends and family of Claremont members who attend as carers, and those who attend for special events such as our annual variety showcase. 

2. To provide at least 20,000 attendances. 

18,967 attendances were recorded on our CRM during FY 24-25, with an estimated 789 (4%) unlogged, bringing our annual total to 19,756. This was slightly below our target of 20,000 attendances, however this year the vast majority of these attendances were in-person rather than online. Attendance figures count the number of times an older person received one of our services - whether that was attending a class, a workshop, one-to-one support, to use our warm space with free teas and coffees or coming for a drop-in visit. In recent years, the attendances figures had included those attending virtually through online classes during the pandemic, hence the higher numbers. Over FY 24-25 our services were returning to normal after the pandemic - by end of year (excepting exceptional circumstances) these attendances were entirely face-to-face. 

**- 1 -** 



CLAREMONT PROJECT (ISLINGTON)
CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
To serve at least an average of 24 psychotherapy clients al any one lime.
Al any given lime in FY 24125 we saw an average of 18 clients at any one lime150 clients across the year in totall.
The numbers are slightly below our target because a number of our trainee psychotherapists had come to the end
ol their placements and there was a short dip in our capacity whilst we recruited and onboarded to their roles.
To see average CORE scores improve from a clinical slalus to a normal status across all dimensions for
men and women and to see significant improvements in WEMWBS scores.
The 2025 results from our low-cosl psychotherapy service for Islington residents aged 18+ continued lo show strong
positive outcomes and enabled those on low incomes {<£30kpal lo access psycholherapeulic support which they
would have been unlikely lo afford otherwise. Consislenl with previous years. the 2025 initial client scores using
CORE (Clinical Outcomes in Routine Ev8lualion} indicated that men and women came lo us in significant distress
{the 'clinical range'l, and average final $¢ore$ improved lo within Nomal ranges across all mea$ure$ ('wellbeing',
'problems and symptoms,, 'functioning' and 'risk') As described above, WEMW8S scores through 2025 showed
significant improvements in average wellbeing $¢ores.
To repair our r¢of and install insul8ti¢n to radically Improve our carbon footprint
In September 2024, Claremont repaired its maln t¢p.iloor roof thanks lo a generous grant from the Linbury Trust.
The old fell roof had reached the end of 11$ life and was letting in water, Repairs were made lo the base and walls.
and new insulation was added lo meet Current standards, A waterproof and anti.slip coating wa$ then applied,
stopping all leaks and helping lo cul haating costs. We also replac4d the 20-year-old boi18r with a modern Combi
boiler and smart heating system. Together, thase improvements have reduced energy use and made the building
wamier and more efficient.
To promote the creation of new projects aimed al improving m&ntsl well.being
r In FY 2024-25 Claremont benefited from generous funding frcm the National Lottery's Award8 for All programme lo
pilot a new 'Demenlia Risk Reduction. programme. Researchers suggest that 40% of dementia Cases globally are
attributable lo modifiable risk factors {in other words, cases where steps Can be t8ken lo reduce the risksl,
Claremont's Brain Health projectls SUPPOrting Claremont membets lo take action that will ￿duce Iheir18vels Df risk
and keep their brains healthy. Through sharing information and supporting people to take up social and physical
activities that are known lo st￿n9then brain health, this pathfinder prograFnme is exploring how dementia risk
reduction can be mainstreamed at Claremont and beyond
To continue to build a sustainable economic model for the charity.
We were pleased that our finan￿$ have remained stable and that we have continued lo be able to svslain our
charitable activities through diversified income streams. Nearly half of our income comes from self-generaled
sources, largely letting out our halls and meeting rooms when we are not using them lo community groups., as well
as renting Offi￿ Spa￿ to organisatlDns with similar aims and values to our own.

## **CLAREMONT PROJECT (ISLINGTON)** 

## **CHARITY REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ 

## **Achievements and performance** 

## **c. Main achievements of the Company** 

Claremont is about people having opportunities to shine and live happier, healthier and more connected lives. We've offer a wide range of services at our centre at White Lion Street in Angel, particularly for older people. Our members range in age from 55 to 101 years old, and our aim is to improve their wellbeing, build a community that welcomes everyone, and to help people in later life feel like they matter. 

We do this through a vibrant programme of arts and wellbeing activities; low-cost psychotherapy (open to those 18+); and a 'social prescribing' service which helps those who are more vulnerable get connected to our community and to other services. Everything we offer is free or low-cost, our building is fully accessible to those with disabilities and our friendly staff offer support to those with additional needs. Our goal is to ensure that those at greater risk of social isolation are welcomed into our community and flourish in their lives, and we have a history of innovation in health and social care stretching back to when Claremont first started offering services in 1907. 

In FY 2024-25, our diverse community continued to thrive. We had 924 active members in the year (up from 868 in FY23-24), with 200 new members joining. This excludes those who attended fewer than four times. Overall, there were 18,967 attendances of our low-cost classes and special events, and 864 psychotherapy client sessions delivered to 50 clients. In addition, there have been many hundreds of other users of our facilities, including a wide variety of community groups (theatre groups, dance, fitness, choirs, etc), and we provided low-cost office space to values-driven organisations. 

In 2024-25 we maintained our rich and varied programme, which includes 40 regular and weekly classes across music, dance, visual arts, creative writing and physical activity. We also ran over 100 special events, including concerts, seasonal parties, visits and exhibitions. Our programme is high-quality and aspirational, with regular partnerships with leading cultural organisations such as the London Symphony Orchestra, Sadlers Wells, Trinity Laban Conservatoire of Music and Dance, Guildhall School of Music and Drama, the Hayward Gallery, the London College of Music and the British Museum. Our 'First Fridays' events showcase a wide range of art forms and cultures with educational talks, performances and participatory activities followed by socialising over refreshments - everything from puppetry to Japanese folk music; whilst our biannual 'Claremont Exhibits' project turns our building into a gallery full of our members' art. Members get a chance to shine at our Variety Showcase (which in 2024 was at the 02 Academy in Islington), they can showcase their talents in Claremont's annual Member Extravaganza; and to display their creative works in our annual Craft Fair. Alongside our creative programme we ran a range of wellbeing enrichments, including a '5 Ways to Wellbeing' workshop, LGBTQ+ coffee morning and support groups facilitated by psychotherapists for bereavement, men, carers and experiences of ageing. 

We are deeply embedded in our local community and our members come from all walks of life. Islington ranks 4[th ] highest in England for income deprivation affecting older people and Islington is one of the most unequal boroughs in London. Those who attend Claremont most frequently are likely to face disadvantages of some kind: Among those attending Claremont twice a week or more, the majority (54%) are from racialised communities; more than half (52%) manage on monthly income that is below the poverty line; and 81 % are women. We offer a warm and comfortable space for members to relax with free tea, coffee and biscuits - something that is particularly appreciated in the colder months and by people on low incomes. 

Highlights from our 2025 Annual Members Survey include: 

- **90%** say that Claremont has helped their psychological health. 

- **96%** say that we value people . 

- **85%** say that they made friends at Claremont (note that 14% of respondents were very new members). 

- **98%** say that our staff are very good or excellent. **(71 % 'Excellent')** 

- **97%** said that the quality of main activities and timetable is generally 'Excellent' or 'Very Good' 

- **76%** said that Claremont is 'very important' to them. 

- 3 - 



CLAREMONT PROJECT (ISLINGTON)
CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
We now have over 3.70Q data points which we have collected lo gather ev1deft￿ of how our services l&ad to better
wellbeing outcomes for Claremont members. We measure levels of wellbeing amongst our members using the
Warwick Edinburgh Mental Wellbeing IVVEMVVBSI scale, asking members to take the WEMVV8S questionnaire lo
gauge mental wellbeing and contentment with life when they join, and ask them to repeat it after four months of
membership.
This data indicates significant improvements in wellbeing outcomes. Our WEMWBS data through 2025 shows a
33 /0 reduction in the number of people whose low scores would raise Clinical cOn￿rn$ around their mental health,
comparing 'Before' and 'After' scores. Our data also shows a 260/0 rise in the number of people whose WEMWBS
score indicates above average. moderate and high levels of wellbeing. When they join. Claremont members are
more than twiTr as likely as the UK general population lo have levels of wellbeing that are low enough to raise
clinical concerns about their mental health {33°10 vs 15 /ol. However, after four months Claremont members are more
likely than the general population lo have high wellbeing1220/0 vs 150101. We see a meaningful improvement (defined
as a three-poinl rise or more in WEMWBS scorel for more than half our individual members152 %). 11 is remarkable
and unusual lo see such improvements for those al th& low end of the scale, who may have longstanding conditions
where symptoms have bean persislenl for many years,
Just
few
of
the
100's
of
omments
from
our
2024-25
survey:
'In your Own Y￿rds, brlefly d?$¢ribe how you fefrl about Clar•mont...
Claremont gives a reason lo get up in the mornings, even when it is cold, wet and dark outside. I look
forward lo meeting old friends and making n8w ones.
A very important part of my life now as I can join in things and not leel $e9￿94ted.
Claremont is a connection with others and a friendly place
Claremont b8¢ame part of my life because of kindne$$ 8nd supportive from all staff thè ernpalhy
'Claremont is doing a great job in providing a purpose to and filling up voids in many old people's lives.
It is very welcoming and confiden¢e-èuilding
"Can you •har¢ more about your exp¢rlen¢e wlth Claromont $taff?"
Unfailingly warm, welcoming, patient, attentive, ¢on5iderate, engaged and engaging. reliable and
honest,
They all seem lo have lime for a kind word
Every one show kindness and patience and are well mannered
They are always approachable and friendly."
'They always smile. That is $0 important. 11 casts a happy atmosphere over the place. They always
say hello and goodbye so i feel noticed that l am present."
'They are kind and helpful. And knowing people by name '
They are always prepared lo listen and try lo answer any questions They are very helpful. kind
and respectful.
"They make an effort to remember your name an¢J the groups you go to"
'Slaff are friendly, fespectful and very patient whern explaining to members. I do appreciate the
help and assistan￿ I get from staff when needed.

CLAREMONT PROJECT (ISLINGTON)
CHARITY REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Financial review
Financial perfornian¢e
Income for the year was £682,812 (2024". £533,769), a significant part of this being an increase of £99,830
reslricled grant income and £49,993 restricted donations and gifts.
Expenditure for the year was £668,784 {2024'. £557,047) resulting in a modest surplus of £13,938. The main
increase in costs during the year related to building maintenance
Reserves at the year end stood at £986,637 of which £729,588 is 'fixed assets, principally buildings which are used
for the charity's purpose and are therefore not available lo spend. Our 'nel current assets. {net of amounts due lo
us, amounts that we need to pay and bank balances) tolalled £257,049 al the year end
Golng concern
After making appropriate anquiries, Ilie Trustees have a Trasonable expectation that the Company has adequate
resources lo continue in operational existence for the foreseeable lulure For thi$ reason, they continue lo adbpi the
going concern basis in preparing the financi81 $18temenl,
Reierve8 poIIcy
The Trustees hold reserves lo a level equivalent lo 6 months, adjusted expenditure
Prlncipal ri•k• and uncertalnti•$
Our trustees actively monitar key r$8ks, including reduced grant funding, health and safety, safeguarding incidents,
staff relenlion, IT security, loss of premises, and environmental impact, Ea¢h risk is Sco￿d for likelihood and impact.
with actions in place lo l¢)wer exposure. Mitigation$ include diversifying income, maintaining property and insurance.
strong safeguarding practic4s. fair pay, IT prolecllons, and $uslainability measures, Regular reviews ensure risks
are reduced over lime, protecting the charity's financial health. reputation. and service delivery,
Plan$ for future perlods
Next financial year, the charity has the following sigr3ificanl aims and objectives..
To assist adults of all ages in the area of benefit in need lo mental health and physical health services.
To continue lo assist older people, especially isolated people not already engaged in some fom of
community-based service or facing disadvantages. Continue lo concentrate on services improving mental
welfare, health and their recreation needs and overall well-being.
To act as a catalyst across London and beyond in the creation of better standards of well-being services for
older people.
To promote positive multicultural understanding and friendships across communities to further the welfare
and education of local residents, especially those with little previous exposure lo or understanding of other
cultures.
To continue the use of the charity's building as a community resource.
To continue lo build a sustainable economic model for the charity

CLAREMONT PROJECT {ISLINGTON)
CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Obje¢tives for 2025-26
To service at least 850 older pe￿e as c(Ye ath.￿ mem￿($. especially those who are isolated or
otherwise disadvantaged.
To provide al least 18,000 i￿￿persOn atte[KIan￿.
To serve al least an averw d20 PSY[J￿hBrapy dients at any ont rrt*.
To see average CORE yoyès kmpE¢¥y frurj a dinical status to a rtorrrtal Status across all dimensions for
men and women, and lo see significant Improvem￿ in WEMWBS scores.
To install solar panels on our rool and a range of energy efficiency measures
To promote the crealion of new propcts aimed at impro¥itvJ mental wellbeing.
To continue lo build a sustainable economic model for the chaftty
Stru¢ture, governonce and managemont
Constltution
The ¢5•rwnont Prt¥*rt Ilsiiwonl is a wislered I*￿IlY (no. 1070611) and a company limitsd by guarantee {no,
345?9451 and Is 511 Memo¢aThJum anta ofAssociation.
None of the Trustses has any benefbcial interest in the company. All of ihe Trustees are members of the company
and guarantee to contribute £1 in the evenl of a winding up.
The trustees, who are alyo the directors for t1￿ purp)se of company law, and who s&rved during the year and up to
the dal@ of signature ol the financ@1 statements were
D Brain
N Fuller
N Ayyaril
J Douglas
Rev M Ali
L Sivakumaran
S Mook
S Berrill
(Resigned 24 June 2024)
(ReS￿ned S Match 20251
(Appointed 24 June 20241
Methods of appointsnent or election of Trustees
The Marw￿1 lll the Company is Ihe re$F￿￿lIty of the Trustees who are elected and co-opted under the
temj otLM Tr￿Eth￿.
The Trustees, who are also directors for the purpose of ccrfnpany law a￿ appointed by the existing board. We have
continued lo search for new Trustees lo strengt1￿n our tK￿r￿.
Election to the Board is by a vote of existiFY3 Board members. The Claremont Unitecl Reformed Church maintains a
right lo have tsvo of its appointees on the Board at any one time and appointees need to be approved by a vote of
the
enbre
Board.
11 is the Board's policy lo operate fixed terms for its directh and director roles. Trusteesldirectors are limited to two
terms of 5 years, with a a¢￿i￿.0￿al 2 years if needed. This policy is in the Pro￿$$ of being added to our
Memorandum and Articles ol AssttiatrJTh.

CLAREMONT PROJECT (ISLINGTON)
CHARITY REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Organisational structure and decision-making p0￿CleS
The charity's governing body, ils Board. meets 4-5 ts-M￿ a year. The Board sets Strategic direction and oversees the
proper operations of the charity but does rKJt generally involve Itself in detailed operational matters and decisions.
The Board has term limits for its offitsrs and Trustees.
Responsible lo the Board il's the Chief Execthi¥e offi￿r. For the duratton of FY24-25 the Chief Executive OffI￿r
was Lucien Paul Stanfield, who stepped down in Apnl 2025 and handed over the role lo Dr Amy Pollard. The Chief
Executive is invited lo attend and report to Board meetings and manages all operational matters, including
management of other staff, and may also recommend policy to the Board for ils discussion The Chief Executive
OffiTrr is not authorised to Commit the charity to any single new ex&wditure of over £3,000 wilhoul prior approval,
All expenditure from the bank accounts requires at least wgn*ories.
There is a Claremont Users Committee which is made up of Claremont members and gives feedback and
suggestions on vorious operational matters and this group meets quarterly. Some Board members are also users of
Claremont seryices or have other potential ￿¥111¢1$ of interest. In all cases where a ¢onfli¢l of interest may arise.
8oard members declare their interest and remove themselves ffMI the meets'ng.
Pollclos adopted for th• induetlon and training of ftew trustees
New Board members are provided wth ba¢kgfOund materials on the a¢tivits'es and history of the charity and spend
time with members of staff learning about the various operatsons of the Charity. Those Trusleas with particular
interests in legal and financial mattérs ITfeasurer. fof exarnp￿) afe bfieled In detail on pro¢e$$es, systems and
reporting procedures. and ar• given appropriate a￿$$ to inforMat￿n systems, Trustees are also invited to meet
users of Claremont's servlces.
Relatsd party r¢lallonships
The Chafity lease$ the Claremont 8uilding from the United Reformed Chuf¢h Thames North Trust (registered as
charlty and Trustee for Islinglon United Reformed Church) The lease was renewed for a further 28 years on 1st
August 2020. The rent is £20,OOOlyear.
The following Trustees have Of had Common trustee$hip with the wganisats'on listed below.
David Brain and Rev Margaret Ali
lslington United Reformed Church members
Thanks
Without the support of our generous frJnders. it W￿ld not be possible for Claremont lo provide such a range of high-
quality services or lo deliver oulcornes for our communty at thB scale. We are deeply grateful lo Arts Council
E kn&r05 fpr 41, City Bridge Trust. Crip¢*giiTr FWrhYal￿n. Dratwrs CPrantAble Fund, the Fishmongers.
Cornp3ny. Trusl. Linbury Trust. 8prwJh of IslirHJb]n P8rtn8rghip Fund, London Calalysl,
Mercers Company, Lottery Communty Fund. London Marathon Foundation, Peter Slebbings Memorial Trust,
Robert McAlpine Foundation, St Sepulchre Unrted Charities. TwJer Crane Kung Fu and the Wootyroffe Benton
Foundation for their invaluable support_
We are grateful to our outgoing CEO. Lu￿￿ Stanfield. who sewl Claremonl for over 22 years and played a vital
role in shaping the organisation as il is today_ we'￿ also thankful to our amazing volunteers, staff and members
who make Claremont such a warm. welcomirwJ aNJ special place.

## **CLAREMONT PROJECT (ISLINGTON)** 

## **CHARITY REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ 

proved by the Board of Trustees. The-eharty reportC _"JI_ S Berrill 

**-8-** 



## **CLAREMONT PROJECT (ISLINGTON)** 

## **INDEPENDENT EXAMINER'S REPORT** 

## **TO THE TRUSTEES OF CLAREMONT PROJECT (ISLINGTON)** 

I report to the trustees on my examination of the financial statements of Claremont Pro[j] ect (Islington) (the charity) for the year ended 31 March 2025. 

## **Responsibilities and basis of report** 

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. 

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In car[ry] ing out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. 

## **Independent examiner's statement** 

Since the charit[y] 's gross income exceeded £250,000, the inde[p] endent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the 

examination giving me cause to believe that in any material respect: 

- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006. 

- 2 the financial statements do not accord with those records[; ] or 

- 3 the financial statements do not comply with the accounting re[q] uirements of section 396 of the Companies Act 2006 other than any re[q] uirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination[; ] or 

- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard a[p] plicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

## **Frances Wilde FCCA DChA** 

Warner Wilde Limited Chartered Certified Accountants 4 Marigold Drive Sisley Surrey GU24 9SF Date: 11 December 2025 

- 9 - 



CLAREMONT PROJECT (ISLINGTON)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Restricted
fund$
funds
2025
2025
Totsl Unrestricted Restricted
funds
funds
2024
2024
Total
2025
2024
Notes
Income from:
Donations and legacies
Charitable activities
19,270
288,808
374,734
394.004
288.808
73,780
235,078
224,911
298,691
235.078
Totsl income
308,078
374.734
682.812
308,858
224,911
533,769
Expenditure on:
Raising funds
Charitable activities
16,9D1
291,579
30,583
329,811
47,484
621,390
34.882
276.742
34,882
S22,765
245,423
Total expenditure
308,480
360,394
668.874
311,624
245,423
557,047
Net in¢omel{expenditurel
14021
14,340
13,938
12,766}
{20.5121
(23,2781
Transfers be￿een
funds
(6,172)
6,172
Net movement in
funds
(6,574)
20,512
13,938
(2.7661
120,572)
123.278)
Reconciliation of funds:
Fund balances at 1 April 2024
993.211
120.5121
972,699
995,977
995.977
Fund balances at 31 Mar¢h
2025
986.637
986.637
993,211
.5t21
972,699
The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.
10-

## **CLAREMONT PROJECT (ISLINGTON)** i 

## **BALANCE SHEET** 

## **AS** _**AT 31 MARCH**_ **2025** 

|||**2025**||**2024**||
|---|---|---|---|---|---|
||**Notes**|£|£|£|£|
|**Fixed assets**||||||
|Tangible assets|12||729,588||771,984|
|**Current assets**||||||
|Debtors|**13**|15,022||19,437||
|Cashatbankandinhand||350,616||307,322||
|||365,638||326,759||
|**Creditors: amounts falling due within**|**14**|||||
|**one year**||(108,589)||(126,044)||
|**Net current assets**|||257,049||200,715|
|**Total assets Jess current liabilities**|||986,637||972,699|
|**The funds of the charity**||||||
|Restricted income funds|**17**||||(20,512)|
|Unrestricted funds|**18**||986,637||993,211|
||||986,637||972,699|



The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. 

comptylng with the irements of the Companies Act 2006 n of fi1tancial "Mad statem ee, . 

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regl · 

The state _5_ ra approved by the trustees on .. o 7.. _,,...-.-...,,11_ S Berrill 

Company registration number 3453945 (England and Wales) 

**• 11 -** 



CLAREMONT PROJECT (ISLINGTON)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flows from operating a¢tivities
Cash generated froml{absorbed by)
operations
21
45,640
(16,2431
Investing a¢tivities
Purchase of tangible fixed assets
{2.346)
(15.221)
Net Cash used in investing activitie$
12,346)
Net cash generated from financlng aetivitiel
Net increasolldecrease) In ¢•$h and ¢a6h
equivalents
43,294
(31,4841
Cash and Cash equivalents at beginning of year
307,322
338,786
Cash and cash 8quiv4lent8 at Qnd of year
350,816
307,322

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
A¢¢ounting poli¢ies
Charity information
Claremont Project {Islinglon) is a private company limited by guarantee incorporated in England and Vvales.
The registered office is
1.1 A¢¢ounting convention
The financial statements have been prepared in accordants with the charity's governing document, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Charities SORP "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 IFRS 102)" The charity is a Public Benefit Entity as defined by
FRS 102.
The ftn8ncial slalemenls are Prepared in sterling, which is the functional currency of the charity, Monetary
amounts in these ftnancial statements are rounded to the nearest £
The financial statements have been prepared untjer the historical cost convention, Imodified to include the
revaluation of fr88hold properties and lo include investment prop&rt18$ and Certain financial instruments al fair
valuel The principal accounting policies adopted are Sel out below,
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expe¢tstion that the charity
has ad8quale resources to continu8 in operational existence for the foreseeable future Thu8 the Iruslees
¢onlinue to adopt the going concern basis of a¢¢ounting in preparing the financial statements.
1.3 Charltable fund$
Unreslricled funds are availab18 for use al the dls¢relion of the Iruslees in furtherance of their charitable
objecllves.
Restricted funds ar8 subject to specific conditions by donors or grèntors as to how they may be used. The
purposes and uses of the reslricled funds are sel out in the notes to the finaneial statements.
Endowment funds are subjact to specific conditions by donors that the Capital must be malntained by the
charity.
1.4 In¢ome
Income is recognised when the charity is legally entitled to il after any perf0rrnan￿ conditions have been mel,
the amounts can be measured reliably, and il is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised On￿ the charity 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 al the lime of the donation.
Legacies are recognised on receipt or otherwise if the charity 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
conlingenl asset.

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
IContinued}
1.5 Expenditure
Expenditure is recognised On￿ there is a legal or constructive obligation to transfer economic benefit lo a
third party. Il is probable that a transfer of economic benefits will be required in settlement. and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity The costs of each activity are made up of the total of direct costs and
shared costs, including support costs involved In undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute lo more than one activity and
support costs which are not attributable lo a single activity are apportioned belween those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charg85 are allocated on the portion of the asset's use,
1.6 Tanglblo flxgd a¥$ets
Tangible fixed assets are initially measured al Cost and Subsequently measured at cost or valuation, net of
deP￿cl4t10n and any impaimienl losses,
DeP￿CIatIOn is recognised 80 as lo wrlle off the ¢ost or valuation of assets less their residual values over thelr
useful lives on the following ba$e$',
Freehold land and buildings
Fixtures and fittings
Computer equipment
28 years SL and 2% on improvements
4 years SL
3 years SL
The gain OT loss arlsing on the disposal of an asset is determined as the difference be￿@en the sale proceeds
and the carying value of the asset, and is recognised in the statement of financial activities.
1.7 Impaimiont of flxed a88ets
At each reporting end date, the charity reviews the carrying amounts ol its tangible 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 lif any)
1.8 Cash and Cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Ftnancial instruments
The charity 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 ils financial instruments.
Financial instruments are recognised in the charity's balan￿ sheet when the charity becomes party to the
contractual provisions of the inslrumenl.
Financial 3ssels and liabilities are offset, with the nel amounts presented in the financial statements, when
there is a legally enforceable right to sel 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.
14-

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
Basic financial assets
Basic financial assets. which include debtors and cash and bank balan￿$. are initially measured at
transaction pri￿ including transaction costs and a￿ subsequently carried al amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rale of interest. Financial assets
classified as re￿1vable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing Iransaclion, where th& debt instrument is measured at the present
value of the future payrnenls discounted at a market rale of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate Fnethod
Trade creditors are obligations to pay for goods or servi￿$ 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-currenl liabilities. Trade creditors are recognised initially al
Ifansaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition oi finan¢ial liabilities
Financial liabilities are derecognised when the charity'5 contractual obligations expire or are discharged or
can￿lled.
1.10 Employee beneftts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
re￿ived.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
lo terminate the employment of an employee or lo provide temiination benefits.
1.11 Retirement beneftts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Critical a¢¢ounting estimates and judgements
In the application of the charity'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 experien￿ 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.

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from donations and legacie$
Unrestricted Restricted
funds
funds
2025
2025
Total Un￿Stricted Restricted
funds
funds
2024
2024
Total
2025
2024
Donations and gifts
Grants
5,395
13.875
49,993
324,741
55.388
338.616
8,780
65,000
8,780
289,911
224.911
19,270
374,734
73,780
224,911
298,691
In¢ome from charitable a¢tivtties
Unrestricted Unrestri¢ted
funds
funds
2025
2024
Charttable activities
Letting income
Classes and activities
204,606
82,445
177,000
57,414
Investment in¢ome
Investment income
1.757
664
288,808
235,078
Expenditure on raising funds
Unrestricted Restricted
funds
funds
2025
2025
Total Unrestricted Restri¢ted
funds
funds
2024
2024
Totsl
2025
2024
Fundraising and publicity
Other fundraising costs
Staff costs
16,901
16.901
30,583
12,099
22.783
12,099
22,783
30,583
16,901
30,583
47,484
34,882
18-

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Expenditure on charitable a¢tivities
Charitable
activites
Charttable
activit¢s
2024
2025
Direct costs
Staff costs
Depreciation and impairment
Cenler activities
Building maintenance
Insurance
Training
226,699
32,900
164,091
92,883
2.114
2,534
227,398
32.863
147.715
18.369
4.017
2,265
521,221
432,627
Share of support and gov¢rnan¢e costs (see note 7}
Support
Governance
83.298
6.240
1,800
621.390
522,165
Analysis by fund
Unrestricted funds - general
Restricted funds
291.579
329,811
276,742
245.423
621.390
522,165
Support costs allo¢ated to activities
Charitable
activites
2025
Total
2024
Staff costs
Depreciation
Utilities
Rent and rates
Telephone and fax
Bad debt
Governance
35,350
11,841
26,679
20,194
1,927
2,379
1,800
33.087
4.850
27,924
15,614
1,823
6,240
100,170
17

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs allo¢ated to activtties
(Continued)
2025
2024
Governan¢e costs comprise:
Independent Examinels fee
1,800
6.240
1.800
6.240
Net movement in fund¥
2025
2Q24
The net movement in funds is slated after ¢hargingllcrediting)'.
Depre¢i81ion of owned tangible fixed assets
44,741
37,713
Tru$te¢•
None of the trustees {or any persons connected with them) received any remunerallon or benefits from the
¢h8ftty during the year.
10 Employeas
The average monthly number of employees during the year w8S',
2026
Number
2024
Number
Employment costs
2025
2024
Wages and salaries
Social security costs
Other pension costs
254,528
25,678
12,426
246,664
24.576
12,028
292,632
283,268
The number of employees whose annual remuneration was more than £60.000
is as follows".
2025
Number
2024
Number
£80,001 to £90,000
18-

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATENIEKfs (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Employees
{Continued}
Remuneration of key management personnel
The remuneration of key management personrtel was as follows:
2025
2024
Aggregate compensation
91.748
145,815
11 Taxation
The charity is exempl from tsXa1￿n on ts a¢tivrties because all its inoyne 15 applied for charitable purposes,
12 Tlngible fixed assets
Fr••hold land Flxlurgs and
•nd building8
ftttln9
Computer
•qulprn•nt
Totsi
Cost
Al 1 April 2024
Additions
946.639
2.038
13,565
36,008
308
998,210
2,348
Al 31 Mar¢h 2025
948,677
13,565
36,314
998,556
D•pr•¢i•tion and Impalrnient
Al 1 April 2024
Depreciation Charged in the year
1WJ,796
9,046
1,745
24.385
10,096
224,227
44,741
At 31 March 2025
223.
10,791
34,481
268.988
Carrying amount
Al 31 March 2025
rA4.9Bi
2,774
1,833
729,S88
Ai 31 fvlarch 2024
755.841
4.520
11.623
771,984
13 Debtors
2025
2024
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
15.022
6,937
12,500
15,022
19,437
19-

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Creditors.. amounts falling due within one year
2025
2024
Notes
Other laxalion and social security
Deferred income
Other creditors
Accruals
5,572
86,478
11,168
5,371
7.898
95,529
10,985
11,632
15
108.589
126,044
1S Defgrred in¢ome
2025
2024
Other deferred income
86.478
95,529
Deferred income is Included in the financlal statements 89 follows..
2025
2024
Deferred incorne is included within..
Current Ilabilllies
86,478
95,529
Movement$ in the year..
Deferred income a11 April 2024
Released from previous periods
Resour￿5 deferred in the year
95.529
1102,3981
93,347
95,529
Deferred income 8t 31 March 2025
86,478
95,529
16 Retirement benefit schemes
2025
2024
Dofined contribution Schemes
Charge to profit or loss in respect of defined contribution schemes
12,426
12,028
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity In an independently administered fund.
-20-

CLAREMONT PROJECT (ISLINGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
17 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject lo specific conditions by donors as to how they may be used.
At 1 April
2024
Incoming
re$ources
Resources
expended
Transfers At 31 March
2025
LBI Partnership Grant
Awards for All
City Bridge Trust
Cripplegale Foundation
Linbury TTUSt- dance
Mercers
Lottery Community Fund
Fishmongers
London Marathon Foundation
Drappers
London Catalyst
Arts Council
Tiger Crane
St Sepulchre
Groundworks
Woodroffe Benton
Robert McAlpin8
Closer- ACE project
Peter Stebbings
Linbury Trust. roof
20.000
1.628
36.750
9,000
50,500
11,800
98,908
12,500
20.000
6,474
1,000
5,610
7.205
6,250
19,820
1,500
10,000
2,409
3.582
50,000
(20.000)
{1.628)
(36,750)
19.000)
(50.500)
111.600)
{98,906)
(12,5001
120,0001
16.474)
{1,000)
15,610)
{7,205)
(6.250)
(19,820)
{1,5001
{10,0001
{2,4091
{3,0701
156.1721
15121
8,172
{20,5121
374.734
(360,3941
6,172
Previous year:
At 1 April
2023
Incoming
resources
Resources
expended
Transfers At 31 March
224,911
{245,4231
120.5121
21

CLAREMONT PROJECT (ISUNGTON)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
18 Unrestricted funds
The unrestricted funds of the charity comprise the uneXper￿d balances of donations and grants which are
not subject to specific conditions by donois aThJ grantors as to how they may be used. These include
designated funds which have been sel aside out of unrestn.cted funds by the trustees for specific purposes.
At1 April
Incomirtg Resources
2024 resources
expended
Transfers At 31 March
2025
Building Fund
General funds
755.840
237.371
(32,9001
(275,580}
722.940
263,697
308,078
(6.1721
993.211
308.078
1308,480>
16,1721
988,637
Previou* year:
At 1 Aprll
2023
Incomlng R¢$oure¢$
resources
expended
Tr4nJf¢rs At 31 March
2024
Building Fund
General funds
788.703
207.274
(32,883}
(278,761)
755,840
237,371
995.977
308.858
1311.624
993.211
19 Analysls of net assets b¢tsYeen lunds
Unrestrlcted
fund$
2025
Restrlcted
fund•
2025
Total
2025
At 31 March 2026:
Tangible assets
Current asselsl{liabililies)
729.588
257.049
729,588
257,049
986.637
986,637
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
At 31 March 2024:
Tangible assets
Current assetsllliabililies)
771.
221.227
771,984
200,715
(2Q.51
993,211
972,899
20 Related party transactions
There were no disclosable related party tra￿ctIonS durirwJ the year {2024 - none).
-22-

CLAREMONT PROJECT (ISLINGTON>
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
21 Cash generated froml{absorbed byl operations
2025
2024
Surpluslldeficitl for the year
13,938
(23,2781
Adjustments for:
Depreciation and impairment of tangible fixed assets
44.741
37,713
Movements in working Capital.
Decrease in debtors
{Decreas&l in creditors
{DeGreasel in d&ferr@d income
4.418
18,4041
19.0511
6.275
(36,953)
Cash gen•r4t¢d Iromllab$orbed by) operatlon$
45.640
{18,243)
22 An4ly•ls of changes in net funds
The charity had no material debt during the year
.23.