Charlty Reglstratlon No. 1088592
Company Reglstratlon No. 04107226 (England and Wales)
PURSUING INDEPENDENT PATHS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

PURSUING INDEPENDENT PATHS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
M Barrie
P Brown
T Cash
J Chowdhury
K Clarke
T Ekendu
T Lang
J Leach
D Wakerley
J Wilcox
L Williams
M Gold
Charity number
1088592
Company number
04107226
Registered office
306 Ken5al Road
London
WIO 5BE
United Kingdom
Audltor
HW Fisher LLP
Acre House
11-15 William Road
London
NWI 3ER
United Kingdom
Bankers
UnityTrust Bank
Nine Brindleyplace
Birmingham
BI 2HB

PURSUING INDEPENDENT PATHS
CONTENTS
Page
Trustees, report
Statement of tru5tees' respon5ibilitie5
Independent auditor's report
8-10
Statement of financial activities
11-12
Balance sheet
13
Statement of cash flows
14
Notes to the financial statements
15-28

PURSUING INDEPENDENT PATHS
TRUSTEES, REPORT {INCLUDING DIREcfoR'S REPORT)
FOR THE YEAR ENDED 31 MARCH2024
The trustees present their annual trustees, report together with the financial statements of the charity for the year
ending 31 March 2024. The trustees. report is also prepared to meet the requirements for a directors, report for
Companies Act purposes.
The financial statements comply with the Companies Art 2(KJ6. the Memorandum and Articles of Association and
Accounting and Reporhng 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 1021
leffective l January 20191.
OBJECTIVES AND AcllviTIES
PIP'S charitable objects are to promote any charitable purpose for the benefit of the public in the UK and in particular
adults (aged over 181 living in Greater London who have learning difficulties and/or mental health problems, by the
advancement of education and the protection of health.
Our vision is 'that all adults Wlth a learning disability are empowered to achieve their ambitions,. Our mission is to 'work
together with people with a learning disability and their support networks to gain skills and opportunities for
independence and to live a life of their choice.. Our learning programmes are developed to align with these statements.
Our students design their own personalised learning programme to work toward5 the life goa15 they have set, ch005ing
sessions from our four delivery pathways: Employment and Vocational Training,. Creative and Performing Arts,. Health
and Wellbeing,. and Independent Living Skills. Their individual learning programme is then reviewed with their key
workers on a termly basis and changed according to their choices.
All PIP students have a key worker who supports them with their learning outcomes and acts as the liaison between the
student's local support and health networks and their families and carers who will advocate on their behalf at the
student's request.
PIP utilises an academic term calendar that mirrors those common in schools and colleges to support student transition
from formal education and provide windows for family holidays that do not disrupt progress. In between terms. Pip
provides Autumn, Spring and Summer Leisure Programmes. which adopt a more casual timetable with more focus on
special events and trips.
Piws centre includes a range of facilities including a performing & creative arts space- a teaching kitchen- multiple
classrooms; and a digital-immersion room. The centre allows us to support students with multr.ple disabilities and the
high demand from potential students, their families. and social workers demonstrates the demand for places. We have
capacity for 40 places per day at our centre. Developing our community provision is a way of including a greater
number of people with a learning disability in the activities that PIP can offer and supporting students to integrate into
the wider community.
Weekly student meetings and a Student Council ensure that the student voice is kept central to the way PIP operates.
Work continues with students to ascertain how best to amplify this at all levels of the organisation so that the
management team and trustees can respond to the changes and service improvements students wish to see.

PURSUING INDEPENDENT PATHS
TRUSTEES, REPORT {INCLUDING DIREcfoR'S REPORT)
FOR THE YEAR ENDED 31 MARCH2024
ACHIEVEMENTS AND PERFORMANCE
During the year we increased our student numbers to 80 which represents a 39% increase in delivery of student provision,
part of our 5-year plan to increase student numbers overall. The plan specifically related to an increase in student numbers
from our Beanstalk campaign originating from 2018 which aimed to secure our-now full. new centre.
Having settled into our new home and got to know our local communities. we were able to reconnect with existing
partnerships that had been on hold since Covid and develop new ones offering further opportunitie5 for our students in their
local communitie5.
More students were able to do work experience in a variety of sectors such a5 hospitality. security and front of house
roles. For example. January saw multiple students have placements at Britlsh Land's Paddington Central site. We're
grateful for their continued support and we can already see outcomes f rom th is work. with some students now securing
part-time work.
Gig Buddies formally launched with an event at the Royal Albert Hall. Live music went late into the night and brought
together circa 150 people consisting of our students, volunteers, and the general public. G ig Buddies is a scheme
pairing adults with learning disabilities with volunteers who share the same cultural tastes so they may attend events
as friends.
In September 2023 we launched our refreshed FnJitFul social enterprise. Post<ovid this model has been challenged as more
people work from home and companies struggle to justify spending the sum to hire us- while for students it has been
difficult to provide a routine, consistent experience. Our new model includes residencies in locations around London for 4-5
weeks and optimises the way our stall works to provide the best possible work experience.
Following our successfu I pilot of a co-ordinator for our employment pathway, we expanded our team to recruit co-
ordinators for Health & Wellbeing: Independent Living Skills: and Creative & Performing Arts. This investment of over
£IOOk per annum in our curriculum has allowed us to be more ambitious for our students and Support staff career
progression. In addition, we created an events officer role to manage our new community events programme and
support our operational team in planning student trips and leisure programmes and were able to run an enriched and
more personalised Spring scheme.
In late 2023-24 seven students participated in lilming for the BBC'S The Assembly show which saw neurodiverse
individuals interview the actor, Michael Sheen. This was a significant moment for our creative & performing arts
pathway as PIP was selected alongside two specialist performing arts organisations to provide (ast members.
As PIP has grown in student numbers and breadth of sessions delivered. our ambition has been to update our
monitoring system and enable us to better articulate our impact on our students and our community. To this end we
successfully applied for over £150,000 towards an exciting and ambitious Knowledge Transfer Partnership with the
University of Essex. its purpose to design an Impact Toolkit specifically designed around adu Its with learning disabilities.
It will see an academic member of staff based full-time for two years at PIP, developing a tool to as5e55 our service, and
similar services in other parts of the UK, based specifically on our students and their support networks perception and
definition of 'value'.

PURSUING INDEPENDENT PATHS
TRUSTEES, REPORT {INCLUDING DIREcfoR'S REPORT)
FOR THE YEAR ENDED 31 MARCH2024
FUNDRAISING
2023-24 saw the implementation of a new fundraising strategy focused upon diversification of funding sources, funder-
aligned project development structures, and improved integration into the service delivery team. In 2023-24 this saw
income of £340.323 secured. with a target of £550.000 for 2024-25 for which significant progress has been made.
PIP would like to register its thanks to Bowmark Capital, K&C Foundation. National Lottery Reaching Communities Fund,
City Bridge Trust, John Lyon's Charity, British Land, and Kusuma Trust for their significant support towards our work.
PIP'S fundraising is conducted through full-time employed personnel. in 2023-24 this was our Head of Fundraising &
Communications, with occasional bid-writinE SUPPOrt from an external contrartor.
As part of our fundraising work. we subscribe to the FundraisinE Regulator. follow their Euidelines and all our activities
are regulated by the Charity Commission.
In 2023-24 PIP received no complaints related to its fundraising artivities. The CEO provide5 an ethical oversight
function for all new donors and fundraising activities. and by the nature of our work are conscious of vulnerable people
in all that we do.
FINANCIAL REVIEW
Total income increased by IO% to £1,486,08112022-23: £1.353.0511. We are pleased to report that having settled into
the new premises, we have continued to see a remarkable increase in student activity resulting in an income from
charitable activities of £1,137,465, an increase of 16% from last year12022-23'. £982,256). This is primarily student
income from local authorities who have continued to support PIP enabling us to offer more se55ions to more students
throughout the year. There was a slight reduction in voluntary income, generated by donations and fundraising which
decreased by 7% to £340,32312022-23.. £367.7181 mainly due to the absence of a fundraising Manager during the
majority of the year but has now been in post since the tail end of the financial year under review with the results of
applications submitted due to be seen in the coming year.
Total expenditure has increased by 6% to £1,413,82812022-23.' £1.340,4681 due to increased staffing costs related to
increased provision alongside greater revenue expenses related to the new centre and residual previous expenses.
The surplus for the year of £72,25312022-23: £12,583) is higher than last year mainly due to ongoing control of costs
coupled with staff vacancies during the year.
As of 31 March 2024, PIP held general unrestricted reserves of £611.40712022-23'. £482,3821 and unrestricted
designated fixed assets reserves of £322.88012022-23.. £374.8751. At that date PIP held £131,67612022-23.. £136,453)
in restricted reserves. The general reserves requirement is detailed in the reserves section below.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Pursuing Independent Paths IPIPI is a charitable company limited by Euarantee governed by its Memorandum and
Articles of Association dated 9 November 2000 as amended on 25 September 2015. It is registered as a charity with the
Charity Commission. PIP was established in 1984 as a charitable trust (originally called the Paddington Integration
Projectl- It changed its name on incorporation to indicate its activities were no longer solely based in Paddington.

PURSUING INDEPENDENT PATHS
TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT)
FOR THE YEAR ENDED 31 MARCH2024
Directors and trustees
The trustees of the charitable company are its directors for the purposes of company law. The trustees and officers who
served during the year and up to the date of signature of the financial statements were as follows:
Trustees
Mark Barrie
Kate Clarke- Appointed 26 March 2024
Patrick Brown- Appointed 29 May 2023
Terri Cash
Jan Chowdhury-Appointed 8 July 2024
Theresa Ekendu- Appointed 29 May 2023
Tilly Lang
John Leach (Chair}
Daniel Wakerley
Judith Wilcox
Leanne Williams- Appointed 26 March 2024
Micah Gold - Appointed 17 September 2024
Chief Executive
Denise Largin
None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and
guarantee to contribute £1 in the event of a winding up.
Appointment of trustees
Unless otherwise determined by a General Meeting the number of trustees shall be no less than three and a maximum
of fifteen. In accordance with the Articles of Association, trustees are appointed at a General Meeting for a term of
three years with the possibility of being renewed for a further three years.
Trustee induction and training
New trustees undergo induction to brief them on their legal obligations under charity and company law and the Charity
Commission guidance on public benefit and inform them of the content of the Memorandum and Articles of
Association, decision making processes, the strategic plan and Piws recent financial performance. Trustees are
encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Organisation
The Board normally meets four to five times a year and trustees are responsible for setling and monitoring the strategic
direction, managing and 5upporhng the Chief Executive and ensuring that the charity meets its charitable objectives by
Using the best possible practice and financial prudence. To facilitate effective operations, the Chief Executive has
delegated authority, within terms of delegation approved by the trustees, for operational matters.
Remuneration policy for Senior Staff
The trustees consider that the Board of Trustees, the Chief Executive, the Head of Fundraising and Communications, the
Service Manager and the Financial Controller comprise the key management personnel of the charity in charge of
directing and controlling, runninE and operatinE the charity on a day-to-day basis.
All trustees give of their time freely and no trustee received remuneration in the year.
The base salaries of the Chief Executive and Senior Management Team are reviewed annually using benchmarking data.

PURSUING INDEPENDENT PATHS
TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT)
FOR THE YEAR ENDED 31 MARCH2024
Public benefit
The trustees have given due consideration to the Charity Commission's published guidance on the Public Benefit
requirement under the Charities Act 2011.
The trustees have considered the objectives and activities. together with the achievements and performance, reported
separately and have concluded that:
The aims of the organisation continue to be charitable- and
The aims and the work done to give identiliable benefits to the charitable sector and both directly
and indirectly to individuals in need- and
The benefits are for the public and not unreasonably restricted in any way and certainly not by ability to pay-
and
There is no detriment or harm arising from the aims or activities.
KEY RISKSAND UNCERTAINTIES
PIP has a detailed risk register which is updated and reviewed by the Board semi-annually lor more frequently if
appropriatel. Risks are scored on impact and likelihood before and after identified mitigating actions and movements
tracked from one period to the next. As at end of March 2024 the main risks identified by our board are below with our
primary mitigation..
Dilapidation costs involved in relinquishing the lease on our previous main base- we are being advised by
leading legal, real estate services and surveying firms and have made appropriate provisions for potential
costs.
Departure of key management staff - we continue to review our staffing structure5 to provide resilience, staff
development and progression alongside performing market reviews of personnel terms and conditions.
Local Authoritycommissioning model aligned to an individual budget market- We maintain close working
relationships with the relevant local authority teams. We have a150 worked hard to diversify our income streams
including from new IIKal authority services, corporates, trusts & foundations and our social enterprise.
Voluntary income- PIP has agreements with multiple funders for sums of volurbtary income which would be
material within total income. Changes to a funderfs circumstances, e.g. exceptionally poor trading
conditions for corporate supporters. could reduce total income and to this end a pipeline of new
opportunities is maintained and developed.
PLANS FOR FUTURE PERIODS
In September 2024 we forecast to reach capacity of our new centre at 306 Kensal Road, culminating a five-plus year
project which has secured PIP'S future as a provider of choice in our sector. Work is planned in the coming year for the
Charity to develop its future strategy.
We expert to launch our second social enterprise, Seedlings, focused Dn gardenin8. We have Secured a partnership for
this Wlth a community garden partner and have adopted the Canal Towpath behind our centre.
Our students will be performing in our end of year sumrner showcase, the Sound of PIP, at the Tabernacle
Theatre, which features a siEnilicant number of PIP students across our creative pathway. We hope to make this
an annual event.

PURSUING INDEPENDENT PATHS
TRUSTEES, REPORT {INCLUDING DIREcfoR'S REPORT)
FOR THE YEAR ENDED 31 MARCH2024
In winter 2024 we will see the first cohort of young people with additional needs begin their arts sector internships with
employment coaching from PIP in our new partnership with the John Lyon's Charitv.
Our research partnership with the University of Essex shall begin to result in positr.ve impact on PIP'S evaluation of our
services, with public engagement across WOr￿hOp5, consultations, and research conferences beginning.
We expect fundraising revenue to be signiticantly higher than in 2023-24. This increase in revenues, we forecast,
will require an increase in fundraising team staff numbers. It is expected the structure of this expanded fundraising
team will be implemented during 2024-25.
RESERVES POLICY AND GOING CONCERN
The trustees review PIP'S reserves policy annually. balancing the need to hold back sufficient general reserves to protect
its charitable objectives with the objective of maximisinE the funding avhilable for those activities.
The trustees have agreed the policy that general reserves should comprise two elements:
A working capital reserve equal to three months, average student income for the year. The requirement for
31 March 2024 is £284,36612022-23: £245,564)
An income shortfall reserve of 15% of total standard service income. The requirement for 31 March 2024 is
£222.91212022-23: £202.9581
The general reserves requirement for the current year is therefore £507,278 in total12022-23: £448,522). General
unrestricted reserves levels lexcluding designated funds) are £611,40712022-23.' £482,382). This indicates a surplus of
£104,12912022-23 £33.8601 which shows an improvement from the last financial year.
This is a good position to be espetially given that the budget for the upcoming financial year 2024-25 reflects Erowth
in revenues and therefore a higher reserves balance of at least £567k is required.
STATEMENT AS TO DISCLOSURE TO THE AUDITOR
Each trustee ha5 conlirmed that in so far as they are aware at the time of approving our trustees, annual report..
there is no relevant information, being information needed by the auditor in connection with preparing
their report. of which the auditor is unaware, and
each trustee, having made enquiries of fellow trustees and the auditor, has taken all steps that helshe
is obliged to take as a trustee in order to make themselves aware of any relevant audit information and
to establish that the auditor is aware of that information.
In accordance with section 485 of the Companie5 Act 2006, a resolution proposing that HW Fisher LLP be re-appointed
as auditor of the company will be put to the Annual General Meeting.
By order of the board of trustees
John Leach Ichairl
Date..
18 Sep 2024

PURSUING INDEPENDENT PATHS
STATEMENT OF TRusfEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also the directors of Pursuing Independent Paths for the purpose of company law, are responsible for
preparing the Trustees, Report and the financial ststements in accordance with applicable law and United Kingdom Accounting
Stsndards Iunited Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepa￿ financial statements for each financial year which give a true and fair view of the stste
of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure, of the
charitsble company for that year.
In preparing these financial statements. the trustees are required to=
select Sultable accounting policie5 and then apply them con5i5tently-
observe the method5 and prirhciples in the Charities 50RP.
make judgements and estimate5 that are reasonable and prudent- and
prepare the financial Statements on the going con￿r￿ ba515 unle55 it 15 inappropriate to presume that the charity will continue in
operation.
The trustees are responsible for keeping adequate accounting ￿CordS that disclose with reasonable accurary at any time the
financial position of the charity and enable them to ensure that the financial Statements comply with the Companie5 Art 2006. Thev
are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection
of fraud and other irregularities.

PURSUING INDEPENDENT PATHS
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF PURSUING INDEPENDENT PATHS
Opinion
We have audited the financial statements of Pursuing Independent Paths Ithe 'ch3riVI for the year ended 31 March 2024 which
comprise the statement of financial activities. the balance sheet. the statement of cash flows and the 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 Stsndard 102 The Finonciol Report1ft9
Stondord applicoble in the UK Gnd Republic of Irel(7nd (United Kingdom Generally AC￿pted 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 March 2024 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 accordan￿ with the requirements of the Companies Art 2(￿￿.
Basis for opinion
We conducted our audit in accordance with International 5tsndards on Auditing IUKI IISAs IUKII and applicable law. Our
responsibilities under those standards are fvrther described in the Auditors responsibilitiesfor the audit of thefinoncial stotements
section of our report. We are independent of the charity in 3ccordance with the ethical requirements that are relevant to our audit of
the financial ststements in the UK. including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a
basis for our opinion.
Conclusions relatin8 to Boing concem
In auditing the financial ststements. 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 charity'5 ability to continue a5 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 tru5tee5 are re5porhsible for the other information contsined 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 a55urance conclusion thereon. Our re5pon5ibility 15 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 misststed. If we identify such material incon515tencies 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 misststement of this other information,
we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Art 21))6
In our opinion, based on the work undertaken in the course of our audit..
the information given in the tru5tee5' report, which includes the directors. report prepared for the purpose5 of company13W,
for the financial year for which the financial statements are prepared is consistent with the financial statements.. and
the dirertors. report included within the trustees. report has beerh prepared in accordance with applicable legal requirement5.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not
identified material misstatements in the director5, report included within the trustees, report.

PURSUING INDEPENDENT PATHS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PURSUING INDEPENDENT PATHS
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 ststements are not in agreement with the accounting ￿CordS 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 ststements in accordance with the small companies regime and tske
advantage of the small companies. exemptions in preparing the trustees. report and from the requirement to prepare a
strategic report.
Responslbllltles of trustees
As explained more fully in the ststement of trustees. respon5ibilttie5, the trustees, who are also the dirertors of the charity 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 5tatement5
that are free from material misststement. whether due to fraud or error. In preparing the financial statements, the trustees are
responsible for assessing the charity'5 ability to continue as a going cOn￿rn, di5c105ing, 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.
Audltor's responsSbllltles for the audlt of the financlal statements
Our objectives are to obtain reasonable a55urance about whether the financial 5tatement5 a5 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 a55urance but is not a guarantee that an audit corhdurted in accordance with ISAS IUKI will alway5 detert a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the
ag8re8ate, they could reasonably be expected to influence the economic decision5 of users taken on the ba515 of these financial
statements.
Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We design procedures in line with our
responsibilities, outlined above, to detect material misststements in respect of irregularities, including fraud. The extent to which our
procedures are capable of detecting irregularities. including fraud. is detsiled below.
As part of our planning process..
We enquired of management the systems and controls the charity has in pla￿, the areas of the financial statements that
are m05t susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.
The charity did not inform us of any known. susperted or alleged fraud.
We obtsined an understanding of the legal and regulatory frameworks applicable to the charity. We determined that the
following were most relevant.. the Charity SORP. FRS 102. Charities Art 2011. Companies Act 2006.
We considered the incentives and opportunities that exist in the charity, including the extent of management bias, which
present a potential for irregularities and fraud to be perpetuated. and tailored our risk assessment accordingly.
Using our knowledge of the charity. together with the discussions held with the charity at the planning stsge, we formed a
contlusion on the risk of misststement due to irregularities intluding fraud and tailored our procedures actording to this
risk assessment.

PURSUING INDEPENDENT PATHS
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF PURSUING INDEPENDENT PATHS
The key procedures we undertook to detect irregularities includingfraud during the course of the audit included..
Identifying and testing journal entries and the overall accounting records, in particular those that were significant and
unusual.
Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately
applied.
Reviewing and challenging the assumptions and judgements used by management, and the conclusion that there are no
signifitant actounting estimates.
Assessing the extent of compliance, or lack of, with the relevant laws and regulations.
Testing key income lines. in particular tut-off. foi evidence of management bias.
Assessing the validity of the classification of income. expenditure. assets and liabilities between unrestricted. designated
and restrirted fvnds.
Performing a physical verification of key assets.
Obtaining third-party confirmation of material bank balances.
Documenting and verifying all Significant related party balances and transactions.
Reviewin8 documentation such a5 the charity board minutes and correspondence with 501icitors, for discu55ions of
irregularities including fraud.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected wme material
misstatements in the financial statements even though we have properly planned and performed our audit in accordance with
auditing stsndards. The primary re5pon5ibility foi the prevention and detection of irregularities arhd fraud rests with the tru5tee5 of
the charity.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https.-Ilwww.frc.org.uV
auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
Thi5 report is made 501ely to the charitable company's vnembers, a5 a bo(ty, in accordance with Chapter 3 of Part 16 of the Companie5
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'5 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 charitsble company's membeis as a body. for our audit
work, for thi5 report, or for the opinion5 we have formed.
re
Andrew Rich1Senior Statutory Auditor)
for and on behalf of HW Fisher LLP
Chartered Accountants
Statutory Auditor
Acre House
11-15 William Road
London
NWI 3ER
United Kingdom
10-

PURSUING INDEPENDENT PATHS
STATEMENT OF FINANCIAL AcfiviTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Current flnanclal year
Unrestrirted Unréstricted
Rèstrirtèd
Totsl
Total
funds
general
2024
funds
designated
2024
funds
2024
2024
2023
Notes
Income from:
Donations and legacies
Income from charitsble activities
Investments
137.225
1,137.465
8.293
203.098
340,323
1,137,465
8,293
367,718
982,256
3,077
Total income
1.282.983
203.098
1.486,081
1,353,051
enditure on-
Raising funds
98,495
98,495
89,557
Charitsble activities
972.934
134.524
207.875
1.315,333
1.250.911
Total resources expended
1.071.429
134.524
207,875
1.413,828
1.340,468
Net incomingl{outgoingl resources bèfore
transfers
211,554
1134,5241
14,7771
72,253
12,583
Gross transfers between fund5
17
182,5291
82,529
Net incomel{expenditurel for the year/
Net movement in funds
129.025
151.99SI
14.7771
72.253
12.583
Fund balances at l April 2023
482.382
374.875
136,453
993.710
981.127
Fund balances at 31 March 2024
611.407
322.880
131.676
1.065.963
993.710
The ststement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Statement of financial activtties also complies with the requirements for an income and experhditure account under the
Companies Act 21YI6.
11

PURSUING INDEPENDENT PATHS
STATEMENT OF FINANCIAL AcfiviTIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Prlor financlal year
Unréstricted Unrèstrirtèd
Rèstrirtèd
Totsl
funds
génèral
2023
funds
designatèd
2023
funds
2023
2023
Income from:
Donations and legacies
Income from charitsble activities
Investments
114.895
982.256
3.077
252,823
367,718
982,256
3,077
Total income
l.l(K).228
252,823
1,353,051
enditure on-
Raising funds
89,557
89,557
Charitsble activities
934.116
125.81X)
190,995
1.250.911
Total resources expended
1.023.673
125,8(X)
190,995
1.340,468
Net incomingl{outgoingl resources bèfore trdnsfers
76.555
1125.8(X)I
61.828
12.583
Gross transfers between funds
I2.(￿11}
39.240
137.2391
Net Incomellexpendlturel for the yearl
Net movement in funds
74,554
186,5601
24,589
12,583
Fund balances at l April 2022
407,828
461,435
111,864
981,127
Fund balances at 31 March 2023
482,382
374,875
136,453
993,710
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 2(K>6.
12-

PURSUING INDEPENDENT PATHS
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
li
268,842
374,875
Current a55ets
Debtors
Cash at bank and in hand
252.574
996,528
131.682
882,419
1,249,102
1246.9321
1,014,101
1192.7921
Credltors: amounts falllng due vAthln one year
Net current assets
I.(￿2.170
821.309
Totsl assets less current Ilabllltles
1.271.012
1,196.184
Provlslons for Ilabllltles
Provisions
14
205,049
202,474
1205.0491
1202.4741
Net assets
1.065.963
993.710
Income fvnd5
Restricted funds
Unrestricted funds- designated
Unrestricted funds- general
16
131.676
322.880
611.407
136,453
374,875
482.382
17
1,065.963
993.710
18 Sep 2024
The financial statements were approved by the Trustees on .........................
J Leach
Trustee
Company Registration No. 04107226
Charity Registration No. 1088592
13-

PURSUING INDEPENDENT PATHS
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated from operations
21
134.307
76.047
Investlng actlwtles
Purchase of tangible fixed assets
Investment income received
128,4911
8.293
139,2401
3.077
Net cash used In Investlng actlvltles
120.1981
136.1631
Net cash used In fSnanclng actlvltles
Net Increase In cash and cash equlvalents
114.109
39,884
Cash and cash equivalents at beginning of year
882.419
842.535
Cash and cash equI￿lents at end of year
996.528
882,419
14-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting polities
Charity information
Pursuing Independent Path5 15 a private company limited by guarantee incorporated in England and Wale5. The registered
office is 306 Kensal Road. London. WIO 5BE. United Kingdom.
1.1 Accounting convention
The financial ststements have been prepared in accordance with the charity's Memorandum and Article5 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 IFRS
1021 (effective l January 20191". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are p￿pared in sterlrng which is the functional currency of the charity. Monetary amounts in these
financial statements are rounded to the nearest £.
The financial statements have been p￿pared under the historical cost convention. The principal accounting policies adopted
are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expertation that the charity has adequate
resources to continue in operational existence for the foreseeable futu￿. Thus the trustees continue to adopt the going
concern basis of accounting in preparing the financial ststements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtheran￿ of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the
restricted funds are set out in the notes to the financial ststements.
Designated funds are subject to spectfic conditions for use. as set by the trustees.
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met. the amounts
can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the 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 is recognised at the time of the donation.
15-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountin8 policies
(Continued)
1.5 Resources expended
Liabilities are recognised as expenditure once the￿ is a legal or construrtive obligation committing the charity to that
expenditure, it 15 probable that settlement will be required and the amount of the obligation can be measured reliably. All
expenditure is accounted for on an accruals basis.
Direct charitsble expenditure comprises all the expenditure relating to the activities carried out to achieve the charitable
objective.
Support costs represent costs that cannot be directly attributed to activities.
Governance costs include the costs of statutory audit and other costs related to the governance of the charity.
Support and governance costs have been allocated to the single charitable activity'supporting Adults with Learning
Di5abilitie5"
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and Subsequently mea5ure(l at C05t, net of depreciation and any
impairment losses.
Depreciation is recognised 50 a5 to write off the cost of a55ets less their residual values (wer their useful lives on the following
bases=
Leasehold improvements
Furniture and equipment
Straight line over remaining period of the lease
Straight line over 3 years
Expenditure for furniture and equipment which exceeds £51K> is capitslised.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the tarrying
value of the asset, and is recognised in net income/lexpenditurel for the year.
rinantial instrumènts
The charity has elected to apply the provisions of Section 11 'Basic Finanoal Instruments. and Section 12 '0ther Financial
Instruments 155ues' of FR5 102 to all of it5 financial instruments.
The Charity only has financral a55ets anfl financral liabilities of a kind that qualify a5 basic financial instruments. These financial
instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.8 Provlslons
Provisions, being liabilitie5 of uncertain timing and amount, are recognised when the ch8TTty has a legal or constructive
present obligation as a result of a past event. it is probable that the charity will be required to settle that obligation and a
reliable estimate can be made of the amount of the obligation.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the
employment of an employee or to provide termination benefits.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11 Leases
Rentsls payable under operatirhg lease5, including any lease incentives received, are charged a5 an expense on a straight line
basis over the term of the relevant lease.
16-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Critical accounting estimates and judgements
Trustees do not believe there to be any critical estimates or judgements in the ffinancial ststements.
Donations and legacies
Unrestritted
funds
general
2024
Restricted
lunds
Total
Unrestricted
funds
general
2023
Restricted
fund5
Total
2024
2024
2023
2023
Donations and gifts
137.225
203.098
340.323
114.895
252,823
367.718
Income from charitsble artivitie5
Supportlng
Adults with
learnlng
disabilrties
SupportlnE
Adults with
learnlnE
disabilities
2024
2023
Special projects
Local authority personal budgets
9.960
1,127,505
24.565
957,691
1,137,465
982,256
Investments
Unrestrirted
funds
general
2024
Unrestrirted
funds
general
2023
Interest receivable
8.293
3,077
17-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Raising funds
Unrestrlrted
fvnds
general
2024
Unrestricted
fund5
general
2023
Costs of
eneratin
volunta
Other fundraising costs
Staff costs
income
22,392
76,103
24.237
65,320
Costs of generating voluntary income
98,495
89,557
18-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable attivities
Ongoing
Sernice
ser¥ices development
2024
2024
Total
2024
Ongoing
Service
services development
2023
2023
Total
2023
Staff costs
Depreciation and impairment
Rent, utilities & rates
Recruitment & Training
Activitie5 & Events
Service Development Staffing
Travel
Repairs & renewals
Cleaning
Mobile & Telephone
Computer Expenses
Office Equipment
Insurance
608,825
118.381
l(K),115
15.744
57,315
84,559
5.381
4,551
2.651
693,384
123.762
104,666
18.39S
57,315
23.141
15,129
34.037
18,476
14.463
15,533
522,556
110,704
164,372
23,814
64,691
72,577
5.032
7,472
3.656
595,133
115.736
171,844
27.470
64,691
23.400
13,078
40.736
15,711
12.864
13,567
2.591
7,663
3.073
2,462
3.772
23.141
571
8.399
23.4(Kl
560
29.483
683
559
14,558
25.638
17,673
13.834
14,858
12,518
11.253
15,028
12.305
12,977
2.478
7,663
2.939
2,355
3.610
629
675
590
113
10,207
11.890
10,207
11.890
Books, stationary & postage
Equipment Lease
Sundry Expenses
134
107
162
4.638
211
4.849
1.013.676
131.571
1.145.247
969.263
144.528
1.113.791
Share of sUPPOrt costs15ee
note 81
Share of governance costs (see
note 81
122.894
122.894
95.138
95.138
47.192
47.192
41.982
41.982
1.183.762
131.571
1.315.333
1.106.383
144.528
1.250,911
Analysls by fund
Unrestricted fund5- gerheral
Unrestricted funds- designated
Restritted funds
851,521
129.143
203,098
121,413
5.381
4,777
972,934
134.524
207.875
823,592
120.768
162.023
110,524
5.032
28,972
934,116
125.800
190,995
1.183,762
131.571
1.315.333
1,106.383
144,528
1,250,911
Included within Rent, utilities and rates are lease p3yments of £120,76412023 - £160,cixJI. Included within Books, stationary
and postage are lease payments of £l.(K>312023- £1.0941.
19-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support costs
Governance
2024 Support costs
Governance
costs
2023
Staff costs
Depreciation
Rent, utilitie5 & rates
Recruitment & training
Travel
Repairs & renewals
Centre expenses
Insurance
59,190
10.762
9,315
1.531
1,142
8.594
1,607
1.258
27,278
2.217
16,912
76,102
10.762
9,315
1.969
1,142
8.$94
1,607
1.258
27,278
2.217
50,805
10.064
14,943
2.315
1,121
1.023
1,366
697
14,515
65,320
10.064
14,943
2.977
1,121
1.023
1,366
697
438
662
Legal and professional
Other
7,140
5.664
7,140
5.929
265
Audit fees
Accountsncy
22.083
7,759
22.083
7,759
20,456
6,084
20.456
6,084
122,894
47,192
170,1)86
95,138
41,982
137,120
An31ysed between
Charitable activities
122.894
47.192
170.086
95.138
41,982
137.120
Governance c05t5 include payments to the auditors of £22,08312023= £20,456) audit fee5, accountsnry fee5 include £7,759
12023.. £6.0841 in relation to other services provided by the auditors.
Trustees
None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity in the
urrent or prior year. No tru5tee5 were reimbut5e(l any expenses during the current or prior year.
-20-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
io
Employees
Number of employees
The average monthly number of employee5 during the year was=
2024
Number
2023
Number
Supporting people with learning disabilities
32
29
Emplownent costs
2024
2023
Wa8e5 and Salaries
Social security costs
Other pension costs
763,592
62.606
19,391
668,169
41.750
15,854
845,589
725,773
Remuneration paid to key management personnel in the year totalled £241.73912023: £188.3321.
The number of employees whose annual emoluments £60.C#J) or more were..
2024
Number
2023
Number
£70,000- £79.999
li
Tangible fixèd assèts
Leasehohl
Impro¥ements
Furniture and
equlpment
Total
Cost
At l April 2023
Additions
433,318
4.069
85,368
24.422
518,686
28.491
At 31 March 2024
437.387
109.790
547.177
Depreciation and impairn)ent
At l April 2023
Depreciation charged in the year
105,721
104,411
38.090
30,113
143,811
134,524
At 31 March 2024
210,132
68,203
278,335
Carrying amount
At 31 March 2024
227.255
41.587
268,842
At 31 March 2023
327.597
47.278
374,875
21

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12
Debtors
2024
2023
Amounts falling due wthin one year-
Other debtors
193,052
59,522
84.671
47,011
Prepayments
252,574
131,682
Within Other Debtors are amounts due after more than one year of £60.SCKJ12023.' £78.3751.
13
Credltors: amounts falllnE due wlthln one yeay
2024
2023
Other creditors
Accrua15 and deferred income
38,808
208,124
26.452
166,340
246,932
192,792
Deferred income relates to project grant income re￿iVed in advance.
Deferred income at the start of the financial year amounted to £50.144. with £286.988 of deferred income being released in
the current year. There was an additional deferral of £370,259 in the current year, leading to a year end balance of £133,415.
-22-

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14
Provisions for liabilities
2024
2023
Warwick Court Property
205,049
202.474
Movements on provision5'.
Warwlck Court
Property
At l April 2023
Additional provisions in the year
202.474
2,575
At 31 March 2024
205,049
The provision of £205.04912023: £202.4741 relating to the Warwick Court Property la lease no longer required), comprises
the outstanding rentsl Costs, up to the end of the lease, and remedial works to the property to bling the building back in line
with the commencement of the lease.
15
Retirement benefit xheme5
Defined contribution schemes
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 fvnd.
The charge to the profit or1055 in respect of defined contribution schemes was £19,39112023- £15,8541.
-23-

rn u) o ￿ o o
o o
0 Lrt Ln
O¥
th x
rrt th o Ln o O Ln
¢75 ￿ o v o o r4
o p4 O N Ln N Ln
O ￿ O (T> Ln O O
o O CO (*) ￿ o
o o¥ O
Lfi Cfl V ¢75 o ¢f> o
o 0 0 05 0) o o
o000)￿￿0
o ￿ Ln ￿ O 0
Lfi O (Ts 0 (f> O

￿

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestrieted funds by
the trustees for specific purposes-
Balance at
l April 2022
Resources
Trnnsfers
Balance at
l April 2023
Resou￿e$
expended
Transfers
Balan￿ at
JI March 2024
Fixed asset fund
Kensal Road
Property
461,435
1125,8Tr)1
39,240
374,875
1134,5241
28,491
268,842
54,038
54,038
461,435
1125,8cKII
39,240
374,875
1134,5241
82,529
322,880
The charity made the decision in 2021-22 to create a designated fund which represents the net book value of fixed assets at
the year end.
The Kensal Road Property works of £54,038 is a new designated fund in the year, which provides for future estimated costs,
repairs and maintenance towards the propertv.
-26-

o o)
o)
00
Ln o
LLQ F u F fi

PURSUING INDEPENDENT PATHS
NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19
Opèrating lèase commitments
At the reporting end date the charity had outstsnding commitments for future minimum lease payments under non-
cancellable operating leases. which fall due as follows-.
2024
2023
Within one year
Between two and five years
164,003
150,000
164,670
306.670
314,003
471.340
20
Related party transactlons
There were no related party transactions during the year12023'. nonel.
21
Cash generated from operatlons
2024
2023
Surplu5 for the year
72,253
12,583
Adjustments for..
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
18.2931
134,524
13,0771
125,800
Movements in working capital..
Ilncreasel in debtors
Increaselldecreasel in credrtors
Increase in provisions
1120.8921
54,140
2,575
118,0931
142,3221
1,156
Cash generated from operations
134,307
76,047
22
Analysis of changes in net funds
The charity had no debt during the year.
-28-