COMPANY REGISTRATION NUMBF.R 03359861 REGISTERED CHARITY NUMBER 1093668 bEw the Wesl R.H.W.E. LIMITED (KNOWN AS REVIVING THE HEART OF THE WEST END) (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS 31ST MARCH 2025 BELL TINDLE WILLIAMSON LLP Chartered Accountants and Registered Auditors The Old Post Office 63 Saville Street North Shields Tyne & Wear NE30 IAY R.H.IW'.E. LIMI'I'ED A COMPANY Lll￿1[TED BY GLTAIL4NTEE FINANCIAL S'I'ATEIMENTS- YEAR LNDkD 31s'r ￿lARCH 2025 COiYTENTS Report of the Trustees 1- 15 Independent Exatniner's Report to the Trustees Staiemeni of Financial ACti￿tIeS 17 Balance Sheet 18 Noies io the FinanLial Statements Page I R.H.W.E. LIIWIITED A COMPANY LIMI'fED BY GUAIL4NTEE REPORT OF THE TRLTSTEES FOR THE YE.4R ENDED 31ST MARCH 2025 The Trystee8 are pleased to pregenl their annual Director8, Report together with the financial statements of the Charity for the year ending 31 March 2025 which are al80 prepared to meet the requiremellts for a Directots, Repon and financial statements for Companies Aci purpose%. The financial s(aiements comply wilh the Charities Aci 2011. the Companies Act 2006, the Mernorandutn and Articles of Association, and ihe charities Statement of Recommended Practice (applicable to charilits prepaiing their financial statements in accordance with the Financial Reporting Standard applicable in ihe UK and Republic of Ireland: FRS 1021 l55ued in October ?019. Ob'ectives aiid Activities The Charity's purposes a8 set out in the objects contained in the company's Memoralldum of A550ciation are io benefit the public. particularly those living in disadvantaged areas, through social and econotnic programme5 to improve the welfare, resilience and lives of people and communities on their journey lo get inio work, self-employment, Iraitiing or education. The airn5 of the charity are to raise aspiration aud confidence by enabling people to see the potential in themselves, identify a goal and build resilience to navigate their way 10 5UCCeSS. People need holibtic and personali5ed support to be able lo make ￿Ore infortned ¢hoices and feel empowered to lake the 5tep5 lowaids getting the job they really want. exploriug a 5elf-eTllployment idea or ¢on%id¢r training or education opportunities. whatever the pathway they decide. Sllfft￿ar of the Year- AchRevemellt5 alld PerfOr￿all£e This has been a posEtive year for the charity and we ale proud to report on our organisaiion's achievements tnarked by the 51Fategic devElopmenl of partnet5hips and innovation acr055 all setvices during the year. Whi18t the lat)dscape for funding ha5 chaDg7ed, we bave continued to support people facing challenging social arld economic batTiers that are impacting greatly on their pace and progression toward￿ jobs or self-emploiTrenl. We were delighted io be part of key delivery progranunes that aligned Strategically with our mission and values a5 well as broughi about measurable impact for Ihe people and communities we serve. Our tnanaged workspace buildings continue to offer space and support for local enterprises to start-up, grow, thrive and provide local job opportunities. Our key activities for the period are.. Relatiort(tl MeMtoriRg.' 2¢P24/2Q25 partnershLP Wlth The Wise Gioup, JET and Building Future5 East during the period, we succes%fully delivered year 2 of tlie Relaiitsnal Mentoring. progran]rlle. Our holistic approach to t￿plOYabIlitY for economically inactive participants aligned with the progranune objectives and brought innovation with n]entoring and guidance support fostering an environment where people could thrive with meaningful outcomes and responsive solutions building upon our success in year l. 66 clients registered and receiving intensive 8UPPOrt {1320/0 of target achieved}. 58 sessions delivered. Support for clients included.. confidence and resilience building activitle5, job application preparation work. job search, volunteering opportunities, basic IT Skills. English conversaiioll workshop5, preparing for dri￿trtg theory test workshops, help and 5UPPOrt with applications for benefjts, housing and hardship funds, wellbeing activitieb and working alongside Wellbeing mentors from The Wi8e Group accompanying panictpants to attend activities and meetings. Page 2 R.H.W.E. LIMITED A COMPANY LI￿lITED BY GLAIUNTEE REPORT OF THE TRUSTEES FOR TIIE YEAR ENI)F.D 31s'r IMARCH 2025 Summar of the Year: Achtevements and Performance fcojiiinuedj Localisgd Provision Business Support 2112412025 In pannership with Newcastle City Council's Business and IP Centre North East and The Millin Charity, we completed year 2 of this collaborative programme supporting local people 10 explore entrepreneurship and business start-up and eAisiin¥ enterprise8 ¢0 access advice and guidance 10 stabilise and grow iheir business. 166 Poiential entrepreneurs supponed to explore starting a business, 70 Existing enterprises accessed advice and guidance to develop their business. 9 Masterclass se8%ions delivered. 16 HOW2 Workshop5 delivered. £17,960 enterprise seed fvnding grants secured for clients. Support for clients included.. HOW2 Start and Grow a Business Workshops. l.. l advice and guidance appoinimenis, applications for seed filnding supported, Masterclass on specialist topics, fillancial wellbeing support for entrepreneurs, Connecting Business Support Providers events, tickets to Social Ellteryrise Day and trade events eg Living North and test Irading opportllt]itie8 at Small Business Start Up and BIPC Bu8ine%8 Brullches local comniunity venues. Talent PuolJ & PuihHPQyS 2024nQ25 The Talent Poo15 & Pathivays project is a Newcastle Council led collaboration of lo¢al VCS organisations specialising in employability support ciealed to provide a per50n-centred response lo help people move into jobs with specific Iraijiing and support foT a variety of career optlODS. WOr￿.￿g together tbe TPP partners offered a rn￿U of option5 that clients could self-select from that aligned to their circumstances and partners offered specialist support to complement the sector training opportuiiities. During tl)e period. RHWE chaired the monthly project delivery group. 75 Clienis registered and supported. 42 Session5 delivered. Support for client% included.. A Day in the Life activiiie8 taking participants to eTnployers and workplaces building knowled¥e and undersiandin¥ of recruitment processeb, job application and CV preparation woikshops, job search, volunteering opportunities, basic IT skills, trainsng courses 10 develop key emp10￿C￿t-related skillb, English conyeigation workshops, help and 5UPPOrt wEih applications for benefits, housing and hard8hip fulld5, wellbeing activities and c1055-reterra15 to Talent Poo15 partners acciedited cour5e5 and work experience opporninilie%. OurAdelaide Terruc¥.' Newcostle High Streets.. Seplgmber 2(124-February 21125 Our Adelaide Tettace provided grant funding for a range of activities 10 take place in ihe Adelaide Terrace retail area that is c105e by to RHWE's centre in E15wick, Newca511e. Together with other VCS paffners in the locality, we supported a local consultation io inforni the fi]nd themes and were delighted lo receive a grant during the period to deliver a range of evenl.% and 8UPPOrt for the cotntnut)ity to participate in, with a strong focus on sustainability, to raise the profjle of retailers and businesse% trading in the area as well as introduce more businesses to the wider enierprise suppL>rt available. 135 People reached. 3 Evet]ts delivered. 9 Sustainability Charnpions bessions delivered. Page 3 R.H.W.E. LtMITED A COIqPAfs'Y LIMITED BY C.UARANTEE REPORT OF THE TRLSTEES FOR TIIE YEAR ELIDED 31ST MARCH 2025 Summar of the Year: Achievements and PerformAnee icoitiinued) Adelaide Terr&¢e.' Ne¥vruJilv High Street5.' Seplepiber 21J24-February 2025 (coijlinmgd) We worked in partnership with The Comfrey Project delivering a series of re-u%e and recycle workshop sessions that focussed on the use of seasonal and nuirilional food itemq aimed ar improving understanding of reducing food waste and saving money. The workshops were practical with participanis learning how to make frnii-based chutneys, 50UP5 and sauces and understanding the environmental and sustainable impact. wreath making workshop was held using foliage and plani material foraged from the grounds of RHWE'S and Comfrey'8 buildings and Participan￿ were able to get creative. Three events were delivered in the peTiod with support from RHWE'S Volunteer Champions, to engage the local comniunity and raise the profile of the Adelaide Terrace area.. l. Local history trail event wiih VCS panllers held during October halt. iettn, ? Halloween-theme Family Event and a 3. Festive Family Event and we welcomed over 98 visitors. Using wellbeing focu55ed activities provides u5 Wlth new ways to engage people with oui bervices. iiagtrd Workspqre Butlding5 RHWE established our managed work.spa¢e buildings ai John Buddle Work Village in 2003 to encourage and 512PPOrt enireprelleur$ and small bll¥ine8bes to siart and grow, and we have Created a unique commullity ivhere we foster business success and inspire people io explore enierprise. Our unique package of workspace, busine%% support. event5 and a strong communiry spirit is ai the heart of all that we do that. We champion the businesses who choose to locate here in our buildings and we provide ¢onne¢iion and support when a busine55 L5 starting up or exploring way% to grow. Nurturing the next generation Lif employeis and busine5se5 has built 5trotig 5taktholder link5. wilh employers and resident companies who proiide business tnentors, 5ponsor5hip of seed funding, work experience plaLemenls, volunteering and jobs for participants Dn oui employability and enterprise project5. We continually reinvest income generated to ensure the buildings are sustainable and are providing services. facilities and the environment they need to succeed. Wellbeirtg Hub Newcu.file Network We were delighted to register for our third year as a Wellbeing Hub a valuable network of hubs across the City supported by Newcastle Council's Public Health Team. A small grant supported the regi￿tratIOn of our cenire John Buddle Work Village and we delivered Let's Talk IEnglish Conversaiionl grollp, Creative Crafts activity sessions and piloted a Wellbeillg space. Strate leob ectlves and the Focus of Our Work The Board of Trustees believe that Reviving the Heart of the West End 15 in a positive position 10 continue our importani work with individuals and particularly ill con]munities building capacity, cohesion and cotnpassion in all that we do. We ernbrace the diversity of our communities and prioriti8e working with under-represented groups to develop confidence, resilience, 5elf-belief, skills and knowledge through inclusivity and positive connection and a sense of belonging so people an start and grow that dream busine8s or fjnd jobs. Our priorities are.. Build and nurture partnership opporNnities to deliver our services ¢ollaboraiively. Ensure our approach contillues to be responsive, agile and creative to ￿eet the needs of our participants. Page 4 R.H.W.E. LIf*IITED A COMPANY LtMITED B Y C.LAR.4NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 202S Strate Ic Ob-ectives and the Foeus of Our Work (cuirltiiiigd) Siren¥then our network5 and build relatiot]ships with tnore employers to 5UPPOrt their recruitment need5 and increase good job opportunities for participant￿. Deliver pathways into jobs or %elf-employtnenl for those facing barrier8 through long-temi unemployment, low education atlaitllneiit, health issues and low self-esteern. Raise OLtr profile, widen our reach and amplify our voice across VCS and statutory sectors. We reported that 202412025 would be a challenging year with changes to the fvnding landscape, our Communities being disproportionately atTecied by the c051 of liviiig crisi5 and live5 becotning increasingly complex for mo81. During the period the RHWE team has beell agile, prOfE￿5]Dna1 alld worked hard to deliver an exceptional year. As Tjustees, we are proud ol. the dedication and conunitniellt the RHWE team has shown lo the orgat]isation ensuring thai every persoii we meet is given the same wann welcojne and support to help them a%pire and achieve this is the ethos ot how we work as a team and how WE deliver our services across the whole organisalion. The adaptability of the team and their passion is reflecied in the standards they sei and ihe values they demonstraie embedded throughout their work. eratioDal Pers ective The ecojiomic outlook remains challenging wilh the cost of living and fuel and food poverty remaining prevalent in the comn)uiiilies we sUPPOrt, and uncenainty for businesses with higher costs and prebsures io maintain stability which could be reflected with [e￿,er jobs and higher unemployment. The change of Govemmeni has meant uncertainty for future opeialional incoTne and brings to bear the imponan¢e of building networks. partnership working, increasing our circle ol influence and raising the profIle through 8takeholdeTS and traditional marketing &s well as the developrnent of a strong social ￿edia and web presence. We have witnessed again all increa8e it) dernand for our qupport particularly with referral% Irotn local organisation% and agencies working with a diverse range of people. Through 8irong network8 and wilh ideas for it)novative 5etvi¢es, we have engaged with tllore partners collaboraiively to provide influence and expertise to develop responses with impact and we continue to explore the potential of community partnerships and iniiiatives. RHWE plays a Vltal iole and 15 IIile¥ral lo the local and regional entetyrise alld etnployability intTa51TUfture and we will continue to ensure we are represented at local. regional and national forums and networks- an outline of how we do this is provided under Local Links. We remain detem)ined and fo¢us%ed in our con]mitmenl lo being responsive and innovative with the services we provide, enabling pecTrple lo work through dEtYiculi li]nes ￿th tllnely and ineanitLgful support. Our staff team hold the values of RHWE in IheiF hearts and ale dedicated to bupporting clientg from all backgrounds and this i8 reflected in the quoies and case studies we share with funders and across our marketing channels. There hab been a changing landscape for charities with changes in funding,. and, whilst there are pressuies on operaiional management. service delivery. and income stream5, this does not detract from the excellent work the teatn has achieved together to deliver sigrtificant step-change in the live5 of our beneficiaries. Collaborative working and partne15hip development have always been key components in our approach and we continue to foster Strong relation5hip5 Wlth local steering boards, advocacy fornins, voluntary sector organi5ationb, Newcastle City Council. Iiaining plo￿lderS and Job Centre+ Page 5 R.H.W.E. LIIIITED A COMPANY LIMITED BY GUAIUNTEE REPORT OF THE TRUSTEES FOR TJIE YEAR F.NI)FD 31ST MARCH 2025 erational Per5 ective Our resolve and detertninatioll to adapt, deliver and respond lo the emerging needs of our sector as well as our beneficiaries is evident as we report our funded projects during the period all exceeded target. The Charity has alw&Js embraced change and we continue with our Strategic review remaining a priority to re-visit the corporate vision and values and ie-5haping of oiir services based on at) extraoFdinary year of achievement5 ]nade po8sible by the dedication and hard Work of the staff team and the Tnlslees. Loeul Lirtks NÈftwrks The 8taff and trustees colltinue to advocate for our organi%aiion and staff members are active and committed members of long-established networks and fojums including-. IiHWE is the Business and IP Centre's Expert in Residence for pre-start and exi5titJg business support. Work and Thrive Delivery Partner- network Me￿ber with local VCS and training providers. Work and Thrive Strategy Group - we attend bi-monihly meetings and focus groups 10 share good practice and feedback on insighL% in employability to regional representatives from NECA and DWP. Community and Learning Insights Group - RHWE's CEO participates in bi-monthly meetings with the Voluniary SeLlOI leads at NECA (North East Comblned Auihoriiyl io provide infomied views on community insight and good pra¢ti¢e. Employer Engagement Forum employers in ihe Ciry. Newcastle Council'8 network of partner5 delivering and supponing local Local Communlty Partnershlp - RHWE'S CEO has Chaired Ihis partnership of voluntary and statutory sector reps responsible for £2rn of capital and revenue funding for Newcasile. NELEPNONNE Ski115 2nd Inclusion Group chaired by VONNE - quarterly meeting of a network of employability and %kill% training providers. Locality- RHWE member since 2008. VODiNE- RHWE member ￿ince 2012. C(bnnected Voice - RHWE member since 2004. North East CDgland Chamber of COM￿er£e- RHWE ￿e[nbership since 2016. NELEP Growth Providers P4etwork - RHWE is a founder member of this enterprise network. Community OrgaThi5atlOIL5 ID Betlwell and Scotswood grDUP (COBS) - local west end collective of VCS organis&lion5. GiviAg Bock... Our statT team members are actively encouiaged to engage and suppon other charitie5. conllnunity and voluntary organisalions and iegularly VOIL￿teer theii t1￿C foi local good caubes. RHWE'S CEO serves as a Trnbtee at Footsteps Children's Services {20161 and Si Cuthbert's Care120201 and volullieers regularly ai two local sports ¢lub5. RHWE'5 DevelopD]enl Manager volunteer5 regularly at The People's Kitchen in Newcastle and is the Volunteer Welfare and Safeguarding Lead. Page 6 R.EI.W.E. LII¥IITED A COMPANY LIIMITED BY GLIARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST fwlARCH 21125 er#tion#l Pers eetive (coitfliiiied) Chartty Profile Regular reviews of our marketing and social media has developed a powerful identity for the Charity and we have refreshed and update the marketing of our Enanaged workspace buildings. We have reviewed our tnarketing and social media platfOrn￿ internally and improved direct marketing communications., however, we recognise the need for a clear, consistent brand that reflects EXPLORE START GROW as well as the aims ofour Charity. Erts4rin¥ Our Work DeliverJ Our Aim5 When setting our aims, objectives and planning for activitses. WE reflect on the outcomes of our work and the benefits. brought io the people we are here to help. We consider what lias woiked well, what we have leamed and what could be done even better. Where we identify. ap5, our staff teatn is excellent al ivorking with stakeholdeTS and partners to seek out services ive can accebs or piovide itEfiuellce where a need is not being mel., or, even where we can design a 501utio ourselves. In selling objectives and planning activities, consideration is given to tbe general guidance published by the Charity Commission relaiing to the public benefit. We understand that everyone has a unique story and a series of events, experiences and intluences eiiher now or in their pasi thai ha8 impacted on Ihem personally. Many people have complex and busy lives and can lack the conlidence, motivaiion and resilience 10 lake a step fonvaid to start feeling in control. and, ofien ab a consequence of those unexpected evenis, lives can be iransfortned and it can teel itnpossible to get back on track Oui EXPLORE START GROW frajnework has been developed in response to consultation with beneficiaries, participants and stakeliolder5 ensuring per%onalised and sirengihs-based suppon to help people work through challenges alld inove on to brighter fvtures creating powerful impact. How Our Activities Deliver Public Benefit The Trn8tees have considered Ihe guidance published by the Charity Conunission on the provision of public benefit and confirm thai public benefit has been proTrided by the range of activitie5 described. We embrace the diverstty of our communitaes and 5UPPOrt people I￿speCtiVe of background, eihDi¢ity, gender or age through the provision of personal tran5itior15 coaching and tailored activitie5 OUI mission is to improve people's life ¢han¢e8 and economic and social well-being and help those particularly who face health. social and finan¢ial inequality barriers. People are at the heart of our Charity. Unlocking the capacity to aspire is crucial to enable Tneaningful and targeted support for each etnployment journey, whatever your background or circumstance8. our support and guidance is multi- dimensional and responsive, recognising ihat ihe journey inio a job. career andlor self-employjnent is unique io the individual and at every 8tage support needs to adjust and flex to ovetcotne any personal and professional obstacles along the way. EXPLORE START GROW is a menu of activities carefully debi¥ned following an extensive community consultation. Participant5 self-seleei the a¢iivity or activities and personal coaches iwTrp l..1 support around each person io keep people energi8ed and encouraged on iheir journey. Life is complex and there's often competing lactors, situaiions, systell￿ and back-stories Ihat limii and curtail the a￿bition to aspire. Page 7 R.H.W.E. LIMITED A COI4qPANY LIMI ITED B Y GUAIL4NTEE REPORT OF THE TRLS'fEES FOR'fHE YEAR ENDED 31ST MARCH 202$ Hoiv Our Activities Deliver Public Benefit (rgniinued) In a welcoming and caring environment. we build trust and respe¢t by taking the lime to get lo know people. We explore lents and abilttie8, and hopes and dreams, peeling back the layers bit by bit. We qee people grow as they becotne more empowered and eonfideni aboui (heir futures. Our relatiOll5hips iyiih existing and new partners and stakeholder5 continue to be strengthened wilh colleagues acro%s local organisatj0115 feedin¥ back positively about the impaci we are making. A5 a direct iesuli we have gro￿1 a very strong network through wbich cross referrals provide more cohesive and joined up offe15 of support to local people. Organisatiot)s we are working collaboratively with include.. DWP Jobcet)tre Plus. local Schoo15', social housing providers; local charities and voluntary organisations. Newcastle City Council and Newcastle Future5. Plalls for Future Periods Reviving the Heart of the Wesl End will continue offering service5 and 5UPPOrt 10 local people whatever their circumstances and overcotning persollal and systetnic barriers that hold people back tro￿ better job8 and Ilie chance io work for thetn5elves. RHWE re￿￿1￿4 rooted in its local community alld thi5 ha5 ensured a strong Lonnection and insi¥ht into community life and challenges people are facing. We will continue to advocate for our conununities and systems- Change and we ren￿]n ambitious in our pra¢iices and finding soluiions. Whi15t the year to ¢Otne ￿1[ be challenging not least with the change of Governrneni bringing about a review of ￿ndIllg and tuture ot piogramme5 that are created in response to unemployment and econoEnic inactiviiy, we remain p081tive and optitn15tEc as our dedicated efforts across the organisalion have earned us a strong, trusted reputation for delivery of resp0115ive alld innovative services and exceptional perfonnance in grants and partnership proJe¢ts. In line with oui stialegic objectlVe5, we will focu5 on building and developing relationship8 with key ￿take110]derS and partners and ensunng that within strategic networks and as part of consultation5 both loLally and regionally, that our sector knowledge and undeistanding will provide perspective, insight and a meanin¥ful ctsntribulion to de¢i8iOll tnaking. WE will build on the delivery of 5ucces5es in the lasi year which ha5 evidenced track record for future opportunities. We will develop and implement a comprehensive plan 10 Secure accreditation and fornially recogni5e the quality at impact of our work with initiatives through SHTNE, Living Wage Employer, the Fair Paymeni Code and While Ribbon. Launbhing a new website is plarffted for the period as part of Tnaiketing strategy Ihat has organically grown a following of over 600 on Facebook. This will elevate our visibility and impact a5 well as ensure our work is easily understood and accessible. Financial Rtvlew The Trugtees are delighted ￿￿th the successes with grant funding secured for the period to support the enterprise and employability service5 which has enabled us io manage funds prudently and stringently which ha8 SUPPOrted the co[￿llenCerne￿I of an extensive programme of property improvement5 across the tnanaged workspace buildings that is esselltial to maintaining occupancy and continued demand for otTJce and workshop unit5. Demand for services remains high and we retnain conunirted to our mission. Our achievement5 would not be possible without the hard work and dedication of our staff, Tru5tee5, volunteers and partners. Our thank% and appreciation goe8 10 you all together ￿th the generosity of donor5 and funders whose understanding of and belief in the impact of our work has provide illvaluable 5UPPOrt that helps us to continue being transforuTrtional in our approach and transforn)ative for people s lives. Page 8 R.H.W.E. LINIITED A COMP.4YY LI￿lITED BY GUAIL4NTEE REPORT OF THE TRUSTEES FOR TIIE YEAR ENDED 31ST MARCH 2025 FRnaThcial ReiTreTrv (cDii*iiriied) RHWE is delighted lo report that we have successfully navigated these ob%tacles whi15t n￿l￿taining our services, with incredible outcomes and iinpacl achieved through an exciting series of new programs delivered during the year to dale. T]￿Oughout the period, the organisation has responded to the challenging economic landscape,. and the Trustees and CEO regularly mel to coi15ider alld risk plat) for the poielltial impact. We tnonitor expenditure 5tringenily to reduce overheads during any latent periods of teduced occupancy in our buildings when income from oifice and worksliop units is niost al risk. Whilst the financial situation continued 10 be PTe¢arious tor ome lenat)ts and certain types of busine%% we tnaintained stable occupancy in our centre5 and our revamped busineg5 centre8 web81te has generated enquirie8 and referral8 for space increasing again%1 the previous peiiod. We attracted new lellant8 and qupported exi8ting one8 lo conqidtr expan8ion within our managed workspace buildings. Meeting roo￿ hire has increa8ed as a result of new cu¥tomer8 discovering rhe facilitieg and marketing activity. The Trustees are pleased with the financial perfornjance of RHWE during the year and as expected. The total incorne against tC>tal expenditure has ietUTned a 5UTpIu5 in fund5 Thlth an oveiall SUTplus for 2024125 of £63.697. RHWE'S investment in the period Lrt infrastructurE and 51afting re50Lwce was pla]]ned in line kniih our strategic review. Durill¥ the year, the principal funding sources are from grants lo provide a range of bespoke and established services for the relief of uneinploytnent and managed workspace income. Total income for the year ended 31 March 2025 was £473,?54 which represents and increase of £107,837 from 2024 and is due to the cortunencement of the Talent Pools project in April 20?4 and the continuation of Newcastle Counctl BIPC North East Locali5ed Provision Business Support project and The Wise Group Relational Menioring projeci. The Trustee5 have coosidered Ihe resulis of our financial perfomian¢e for the year and are assessing the aciiolls required to deliver robust management strategieb 10 protect the Chatity in light of the ever-changing, Socio-econo￿ic alld political enTrironment. Our project plat]Aing scrntinise% all a%pects of ihe delivery process with a hi￿ level of detail, and to accompany this our project budgeiing i8 ba8ed on a boiiom-up costing method with all budgeis calculated to cover direct costs and make ¢oniAbution to core cosis and overhead. FirtoNcial Risk Management The Charity manages its Cash resources, including sufficient working capital, so that operating needs are met withoui the need for Short lenn bo￿owing. Prirtcipal Funding Sourres Aside fro]n inC0￿C generated by our Jnanaged workspace buildings, the majority of oui ￿nding comes through grants, contracts and small donations. We coniittue to pursue new grants and Colltracts thr(>ugh COm￿lS9l0￿illg to provide a mix of illcotne strealljs into the Charity. In ?0241?5, the Chariiy was extremely gratetul to be a￿arded the grants deiailed below. The amounts received during the year are iecognised in note 5 of the tinancial statements. Page 9 R.H.W.E. LII¥IITED A COMPANY LI￿1]TED BY GUARANTEE REPORT OF THE TRUSTEEI S FOR TFIE YEItR ENDED 31ST I¥IARCH 2025 Financial RevieTrv (eoKltiiried) Principol Funding Sources (eoNlriiiied) Newcastle City Collllcil UKSPF Employment and Ski115 Strand 2.. Provision of I.. l and employability course8 and training to suppon people into work. NeTrvcastle City Council Newcastle High Streets- Our Adelaide Terr#ee Grant: To support Do It Together events and activities to promote inclusivity and sustainability to support the business and loLal cotEununilies living around Adelaide Terrace ill Elswick, Newcastle. Neweastle City Collneil Economic Development Flexi Fund.. Supponing particspants with resources and expen5e5 as they pursue the charitys support on a pathway to work or self employment. Newcastle Citv Coullcil UKSPF Localised Provision Support: Provision of l.. I workshops and mastercla5s activiiies io assist Newcastle re8idenis and business start-ups and existing entetprise5 10 Start up and grow. The Wise Group UKSPF Employment and Ski115 Strand I: Provision of l-. I coaching to re￿0ve barriers to work and SUPPOrt economically inactive people in Neivcasile. Newcastle City Coullcil.. To support the Well Being Hub project. CommuThity Foundation.. To support the delivery of an engagement event. CosiAnalysis Wages and 8alarieq, heat and light, tutoring costs and repairs and ￿aintenanCE continue to be the main co%is incurred by the Chariiy io enable il to deliver its cbaritable activities. Following increased grallt fut￿]￿¥ thi5 year there has been more associated costs incurred. Ftsrtdr¢istng Wrt¢(>me Genvratio We have a clear strategy for fundraising and income generation that ensures a diverse mix of revenue streams and opportunitie.% are considered for the organisation. Our EXPLORE START GROW piogiamme will continue to be delivered tbrough a mix of grant. charitable support. commissions and coniracts. This operates in conjunction with earned income through ttading from our matkiged workspace buildings. The 51iategy tespond5 to the challenges across fut)ding and commissiolling with availability of laige- scale grants becotning more lin]ited and cOn￿lIs510￿ed work highly Competiiive. As we continue lo evidence positive perfomiance ihrough EXPLORE START GROW, our development pldlls relating to potential sources of funding are coming 10 fruition with grants secured and new funding %ources being proactively 8oughi and responded to. We have identified opportunities for joint bids to develop with Iru8ted partners where qervices are complementary and support our benefLciariES. Through intensive netwoiking and relationship building with poieniial lead organi%alions, we have been part of a rtU￿ber of partnership bids for ttLe delivery of employability and enterprise suppon wilh funding secured foi 2025-?026. Page 10 R.FI.NI'.E. LfftIITED A CONCPANY LIMITED BY GL'AKANTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 315'r MARCH 202S Financial Review (eoitiliitsÉd) Fundraisimg and Ihcome GeNerolion (co#iiiJsied) We have had to consider the es%ential investment required in time and resources lo secure the sustainable future of our Charity in line with our tnis5ion. Considerable efforts have been made by the staff team lo ensure continuous impiovetnent inio quality management systems, impact mea¥llrement, projeci planning and management and budgeting and finance. The ieam has delivered excellent work in 8uppon of the financial and operaiional plans contributing to the Charity's success. Investment Powers Polic Under the Memorandum alld Articles of Assoeialion, the Chartty has the power to invest in any way the Trusiees wish and the T￿sIteS must balance competing prioritie% when investing on behalf of the Charity. They must use the asset5 to generate a reasonable it]come; whilst investing safely and in such a way that they are ea%ily accessible to support cash flow 10 make up funding shortfalls. The investment objective 15 to provide a balanced retL￿n on investments with a low to medium level of risk. Given the nature of the Charity's investment portfolio. Lt E5 the Trustees, opinion that the perfottnance on the investment was 10 bE expected. Reserves Policy Going Cort¢¢r The TnJstee8 have examined the Charity's requirements in line with SORP, to hold reserves lo cover up to six ]nonih8 of operational Lo%18. Our policy i% reviewed annually and considers the key risks to Ihe Charity. In calculating reserves lo meei the operational need5 of the Charity, we take account of the potential ribks and confirm currently we hold reserves equivalent to 5 monihs of operational costs. The Trustees are ￿l￿dful of the need 10 be prudellr in respect of our re8erves evels and on that basis the Trustee5 will continue to plan tor u[￿e￿trICted sutpluses 10 fund investment in the straiegic development and growth of the Charity. Thi5 will be achieved through continued income generaiion, identifying new utjreslricted income Sources and robust Fu￿nCial managetnent. The Trustees have considered Ihe Charity's rese￿eS and reviewed Ihe allocatioll of desig[￿ted fund5 in ?024125. Designated fiinds toialling £173,007 were provided for last year. Essential expendi￿re on property maintenance and building systems renewals is planned foT the next financial year. Based on anti¢ipaied ¢08ts, the Trustees cotLsider it appropriate 10 allo¢ale a further £36,737 to designated iesetves. This transfer is shown in note 16 of the financial statements. The Trusiees will continue lo asse55 thi5 throuKhout ?025126 and iefleci on shoff and long-term risks that they A£ed lo tnitigate whiLh are relative to asset purchase, unfuiided essential activity and iestrucrure. Our Designated Funds reserve coveTS-. Propertv Repair Fund The Charity has two business centre buildings on a long-temi full repairing and insuring lease frotn Newcastle City CounLII and the Trusieeg are aware that all piopertEes will need refurbislllnent on an ongoing basis. This fund sets aside essential repair works and dilapidations as the building5 age. Deipeloppneni Fund The Trnstees recognise ihat in expanding and embedding R.H.W.E. Limited new programmes, a fund 15 required to cover the development ribks associated wiÈh designing and piloting new actiN'itieg. Resiniclure Fund This fund has been established to fund the cost5 of any future restructuring at R.H.W.E. LimI￿d. Pagell R.H.W.E. LIIWIITED A COMPANY LINIITED BI. GUARANTEE REPORT OF THE TRUSTEES FOR THE YEAR ELNDED 31ST MARCH 2025 Finantial Revltw Icoiiiinued) RÈsgrveJ Policy GoinR CoNc¥Yn (COIrhn￿e￿) IT Upgrode Fiind This has been established to fund tlie cost5 of upgrading technology infrastructure including the costs of changing IT hardware and 50ftware. Tangible Fi¥edA5set Fund This purpose of this fund is 10 fund future r]xed assets. Reference and Administrative Details Charity NtttrNÈ.' Charity KrtuW￿ NO￿￿.. Churity REgi&lratiort Number.. Compaity Rexi5tralion Number.. R.H.W.E. Ltmited Reviving the Heart of the West End 1093668 03359861 Registered Office oiid Op¥rolionolAddre5S.' JOI￿ Buddle Work Village Buddle Road Ne￿¢&￿11e upon Tyne NE4 8AW Bonker5.' Lloyd5 Bank 102 Grey Sireel Newcastle upon Tyne NE99 ISL Indepertdertt E¥&Niirter E. J. Hartshorne-Ferguson BA FCA Bell Tindle Williamson LLP The Old Po8t 0￿]ce 63 Saville Street North Shields Tyne & Weal NE30 IAY Investmeni Moiiagers Heartwood Wealtb Mallagenlenl Li[ni￿d l Kings Way London WC2B 6AN Séjlicitors.. Sintot15 LLP The Cube Batrack Road Newcastle upon Tyne NE4 6DB Directors and Trustees.. The Dire¢iors of the Lhaiitable company (the Charity) are its TTugtees for the purpose of charity law and throughout tbis report and the linancial statements are collectively referred to as the TtU5tees. The Trnstees who served during the year were as follows.. Chairperson.. M. B. Stoddart Vice ChairpersiPII.' R. G. Webb Page 12 R.H.W'.E. LIP¥llTED A CoMP￿Yy LlfwllTED BY GUA[L￿NTEE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 202S Reference and Admillistratlve Details ieohtiyiued) Trust¥es.' W. McKay Mrs A. AkEnbuja Appoinled 10. 12.24 The key management per8onnel who served during the year weie as follows.. ChiefEYecultwv ojficer.. Mrs A. John50ll The EnteTrri5e Lead and the People Development Lead are also considered to be key manageinent personnel of the charity. Structure Governance and Mana ement Goverrtirtg R.H.W.E. Li￿lled was sncorporated as a company limited by guarantee on 25 April 1997 (company number 033598611 and registered as a charity on 3 September 2002 (charity number 10936681. The company was established under a Memorandum of Association which.8taie% the obje¢i8 and ihe powers of ihe Lompany and 18 governed under its Arti¢le8 of Association. In the event of the company being wound up, Ihe members are required io contribute an atnouttt not exceeding £10. R.H.W.E. Limited operates as Reviving the Hean of Ihe West End. The principal object of the eharitable company is the promotion for the public benefii of urban regeneration in areas of social and economic deprivation, and in particular Newcabtle upon Tyne. The Directo￿ of the compally are also Charity Trustees for the purposes of chariry law, and under the co￿panY'S Articles of Association. Trustee￿ are elected and co-opied. under the ternis of the Anicles of Association. at the Annual General Meeting IAGMI for a period of two year8, after which they musi seek re-ele¢iion, All Director8 of the charitable cojnpany are also Trustees under the Charities Act 2011. Recyuitment Appoirttmenr of Trustees Formal recrnitment procedures are in place and are reviewed regularly. Trustee5 may be nominated on the basis of personal values and ￿0t1vatIon C0115lStent with the objectives of the Chariry. Ttusiees are committed to actively taking part in the governance and strategic developrnent of the organisaiion outside regular Board Meeting5. They give their lime voluntarily and receive no benefjls from the Chatity. The TTUStee Policy is reviewed regularly and the Trustees and Chief Executive Officer work together to recruit new Trustees with e¥pert15e aligned to the Charity's viston and area oftnfluence. We were delighted to welcome d new Trustee to the Board during the period and stiengihening Ihe Board of Trustees has brought posiiive developmentb in policy and practice. We have developed a Trustee Pack and will be ¢atryillg tsut maTketing a¢iivity to raise the profile of the organisation to attract new Trustees lo continue incieasing our membership in accoidance with good governance guidelines. Truslee Induclion ortd Tr(tining Thete i5 a follnal inductloll process for all t]ew Trustees with the Chair and Chief Executive Officei. A briefing is give logetlker with a detailed inforn]atiot) pack, outlining the legal obligations under Charity and CO￿panY law. Charity Comtnis5ion guidance, Memorandum and Articles of Association, a Strategic Plan, financi21 statements and tninutes of recent Trustee meetings. Those interested in becoming a Trustee are invited to attend a Board Meeting as a guesi before considering applying to be a Truqtee. Page 13 R.H.W.E. LIMITED A COMPANY LIIIITED BY GUAILINTEE REPORT OF THE TRIISTEES FOR THE YEAR F.NDED 31ST MARCH 2025 Structure Governance Mana ement (coiJliAiued) OrganisotioKol Structure Ddcisioii Making Trustees are responsible lor the governance of the charity a[￿ meet regularly with the Chief Executive Officer who provides an operational update alongside di5CUS5ion on strategic ￿￿tter5 and the development of policies. Trustees are encouraged lo provide 5UPPOrt in specific themed areas of the Charity where particular expertjse at)d experience are relevattt. The Chief Executive OtTJ¢er leads on strategic management and operatiot)al n￿tter5 holding team meeiings to infortn decision making processes and providing a channel for siaff to regularly feedback on ob5ervationb, ideas and challenges and to share relevant infomjation from clients. partners. stakeholders or impact of external factors. Staff lake part in eetirtg5 on matters inlluding health and safety, marketing. impact, data. and quality. This support5 the coniinuous review of piaclice. policy and pioLedures. Related Party Trunsaclions We have a stiategic voice across local. regional and national foTums ihai are ¢ommut)ity-based, local authtsrity-led or sectoi and business specific including NELEP, NOTCA, Jobcenire Plus. NEECC. VONNE. Locality and Connected Voice. Thi5 ha5 proved invaluable to the charity with improved organisational links leading io improved advocacy for our sector and incieased collaboration for designing new 5ervice5 and identifying funding oppominiiie8 with key partner%. The orgaiii5ation'5 Strategic presence is additionally reflected through our CEO'5 involvemettt with the development and governaiice model for the NewCa￿tIe and North of T>￿e CLLD programme of ERDFIESF funding moving local people furthest away from the jobs market into work or slartiiig a business. Pay Policyfor Key Manugement PersonNel Tbe Board of Trustees give their lime Ereely and no Trnstee received remuneratioll during the year. The key management personnel IKMPI pay is reviewed annually and is noTmally increased in line with average earnings. KMP salaries are Consideied in line ￿7th pay levels Ot other charitle5 and organi5alions in the se¢ior and Ihe region and with consideratio lo the cc>tnplexity of the iole, the duties and responsibilities. Risk The Trusiee5 understand their re8pon%ibility for the managemeni of the risks Faced by the Chariiy and work closely with the Chief Executive Offjcer. Appropriate systems. ¢onlrols and procedure8 have been established with a Risk Register 10 Teduce our exposure., and, manage. monitor and mitigate risk and un¢erEainry. An annual review ol the tnajor risks faced by the Charity is Lmdertaken aud the Tsusiees are satisfied that our procedures are in line with our risk management process. Risk management is considered at regular Tru8tee meetings and any chan8e5 or new risks identified are considered and responded to. Currently, the biggesi risk the Chariiy faces is the loss of income from the rental of office space at our two managed workspace propertieb in Ihe west end ofNewcastle and Encome from grani tunded programmes. Tbe following are considered major risks for the Charity.. Financial rt5ks income loss, exceptional costs. fraul insurance cover. leCTUit]nent of Trustees and [nanage￿ent. legislation and compliance. human re%ources, management inforn)ation. Goi'eJxllp7Le Yiskf Oper(Tilo￿al Ri.¥ks Page 14 R.H.W.E. LIiWIITED A COMPANY LIN.II"I'ED B Y GUAILANTEE REPORT OF THF. TRUSTEES FOR THE YEAR F.NDF.D 3is"r MARCH 2025 Structure Governance and Mana ement (coiiiiR¥ed) Risk Monageillent (eoittslllied) Quality Rts Erte1.￿al Ri51-5 competition risk. charitable objects risk. serious incideni, breach of18w. adverse publicity, government and local authority policy. compeiitors. Coworute Gvveruttttee The Charity ha8 iniemal mea8ures and contro15 in place to manage expenditure and commitments. The Chief Executive Officer works with the siatT ieam 10 regularly refine these proLebses 10 improve etTictency and lo ensure effective and Consistent moniioring of projects continues to meet the highest perfomiance standards. Policies and procedures are regulaily checked and approved by the Board to e115Ute compliance and good ptactice. Trustees, Res 0115ibilities in Relation to the Financial Statements The Trustees (who are also the Directors of R.H.W.E. Litnited for the purposes of company lawl are responsible for preparing the Ttuslees, Annual Report al￿ the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounti￿8 Practice). Company law requires the Tlusiees io prepare financial siarements for each financial year wthich give a t￿£ and fair view ol-lhe 8tale of affairs of the charitable company as ai the balance sheei date and of lis incoming resource5 and application of resources, in¢luding the surplus or deficit for the financial year. In prepaTing those financial statements, the Trustees are required to.. Select suitable accounting policie5 and then apply them consi5tently- Observe Ihe methods and priticiples the Cbarities SORP,. Make judgments &nd esiimates Ihai are reasonable and prudent: Slate whether applicable UK Ac¢ounlirtg Standards have been followed, subject to any ￿￿terIal departures di.qclo8ed and eKplained Ln the financial statements: and Prepare the financial %iatements on the going concern basis unless it is inappropriate to presume that the charitable company will ¢onlinue in business. The Trustees have overall responsibility for ensuring that the charitable cornpany ha5 appiopnate system8 and Controls. financial and otherwise. The Trnstees are also responsible for keeping proper accountingF records which disclose with rea%onable accuracy at any time the financial po8ition of Ihe charitable ¢ompany and to enable them to ensure that the financial statements comply with the Companies Aci 2006. The Trustee8 are also responsible for 5afe¥uarding the assets of the Lharitable Company and for Iheir propel application as required by charity law, and hence for taking reasonable steps to prevent and detect fraud and other irregularities and to provide reasonable assurance that.. R.H.W.E. Limited is operating effi¢ienily and effe¢tively,' All as%ets are 8afeguarded against unauihorised use or disposition and are properly applied.. Proper records are maintained, and financial infomiatson used within R.H.W.E. Limiied is reliable: and R.H.W.E. Limited complies with relevant laws and regulations. Page 15 R.H.W.E. LIMITED A COMPANY LIMITED BY GUARANTEE REPORT OF THE TRUSTEES FOR THF. YEAR ENDED 31ST MARCH 2025 Tru5tees' Res onsibilitie5 iu Relation to the Financial Statements fcoijriniied) The Trnsteeq are re%pon$ible for the maintenanLe and iniegiity of the corporate and financial information included on the charitable company's web8ite. Legislation in the United Kingdorn governing the preparation and dis%eJniJialion of fJnan¢ial statements may differ from legislaiion in other jurisdiLtions. Trus¢ees The Board of Trustees are obliged to seek re-eleciion, every two years. ai the Annual General Meeting. The Trustee5 who are Director5 lor the purposes of company law and trustees for the puryose of charity law, who served during the year and up to the date of this report. are set out on pages I I to l2. In a¢¢ordan¢e with company law, as the company's Directors. we Certify thai.. So far a5 we are aware there is no relevant inforniatÈon of which the company's independent examiner is unaware., and Director8 of the company we have ￿kert all the steps that we ought fo have taken in order to make ourselves aware of any relevant infomiaiion and to establish that the Chariiy'q independent examiner is aware of that information. Itide endent Examiner E. J. Hartshorne-Ferguson BA FCA of Bell Tindle Williamson LLP will be appointed a5 independent examiner for the ensuillg year. This report was approved by the TNstees on 10th December 2025 and is signed on Iheir behalf by.. M. B. STO Chairper8oJVD ¢ior Page 16 R.H.W.k. LIIWIITED A COMPANY LITrIITED BY GUARANTEE INDEPENDEIYT EXAMINEIR'S REPORT TO THE TRL.STEES OF R.H.W.E. LI￿lITED FOR THE YEAR ELYDED 31ST MARCH 2025 I repon on the financial statements ol R.H.W.E. Limited for the year ended 31st March 2025, which are set out on pages 17 1028. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AYL D EXAMINER The Trustees (who are also the Directors of the company for the purposes of company law) are responsible for Ihe preparation of the F￿alICial statements. The Charity's TNstees consider Ihat an audit is not required for this year under eclion 144121 of the Chartties Act 2011 (the 2011 Act) and that an independent examination is needed. The Charity's gross income exceeded £250,000 and l am qualified to undertake the examlnation by being a qualified member of the Institute of Chartered Accouniani8 in England artd Wales. Having satisfied myself that the Charity is noi subject to audit under Part 16 of Ihe Companies A¢1 2006 and is eligible for independent examination, it is my responsibility to.. examitke the financial statements under section 145 of the 2011 A¢i', follow the procedures laid in the General Directions given by the Charity Commission L￿der section 14515llbl of the 201 I Act, and state whether particular matters have come to my aiieniion. BASIS OF INDEPEIYDENT EXAMINER'S REPORT My examillalion was carried out in accordance with the General Directiorts given by the Charity Commission. An examination includes a review of the accouniing records kept by the Charity and a comparison of the financial statements presented with tlio8e records. li also includes consideration of any unusual items or disclosures in the financial statements, and the seeking of explanations from you. a5 Trustees. concerning any such matiers. The procedures undertaken do not provide all of the evidence that would be required in an audit and, consequently, no opinion is given a5 10 whether Ihe financial stateTllEnts pre5elll a 'true and fair view. and the report is li￿lted lo those matters set out in the 51aiement below. INDEPENDENT EXAMINER'S STATEMENT Ill connection with ￿Y examination, no matter has Corne lo my atieniioll.. which gives me reasonable cause to believe that, in any Material respect, the requirexllents.. la} 10 keep accounting records in accordance with section 386 of the Companies Act 2006. and Ibl io prepare financial staieD]ettts which accord with the accounting records aud comply with Ihe accounting requirements of section 396 of the Companies Act 2006. (¢1 ro prepare financial blat¢￿EntS in accordance with the methods and principles of the Statetnent of Recommended Practice for accounting and reportill8 by charities. have not been met. or to which, in my opinion. attention should be drawn in order to enable a proper undersianding of the financial $th￿ments to be reached. Bell Tindle William80n LLP Chartered Accountants The Old Post Office 63 Saville Sttee¢ North Shields, Tyne and Wear NE30 1 AY E. J. Hartshorne-Ferguson BA FCA Independent Examiner CHARTERED ACcoU￿rA￿[s AND REGISTERED AUDITORS 10th Decetnber 2025 Page 17 R.H.W.E LI￿lITED A COMPANY LIMITED BY GUAIL4NTEE STATEMETriT OF fiINANCIAL ACTIVITIES FOR THE YEAR ENDED JIST MARCH 2025 Uiire5tricted Desi naled Restricted Flllld5 Fllllds Funds 2025 Total 2024 Total Notes INcofwlE'. Income from Charitable Activities Investment Income Donations and Legacies 246,430 5,435 5,835 246,430 5,435 221,389 265,983 1,369 98,065 215,554 TOTAL INCOMING RESOURCES 257,700 215,554 473 ?54 365,417 EXPENDITURE: Expenditure on Charitable Activities 197,374 215,554 412,9?8 360,404 TOT AL EXPENDITURE 197,374 ?15,554 412,9?8 360,404 L ET TrIOVEMENT OF FUNDS IN FIYANCIAL YEAR 60,326 60,326 5,013 Unrealised gain on investments 13 3,371 3.371 8.577 TOTAL MoifEMENT OF FUNDS IN FINIlNCL4L YEAR 63.697 63.697 13,590 RECONCtLIATION OF FUNDS.. TOTAL FUNDS AT 1ST APRIL 2024 179,500 173.007 352,507 338,917 TOTAL MOVEMENT OF FUNDS 63.697 63,697 13,590 TRANSFER BETIVEEN FUNDS lJ6,7371 36,737 TOTAL FUNDS AT 31ST MARCH 2025 206,460 209,744 416,204 352,507 The Statetnent of Financial A¢iivirie8 include% all gain and lo%%es in the year and therefore a statement ut total recognised gains and losses has not been prepared. All of the above an]oun15 relate to coDtilluillg activities The rtoies on pugvs 19 10 2Jfurm parl uf iheJefinanciul stoiements. Page 18 R.H.W.E LII.IITED A COMPAIYY Llf¥lITED BY GUAIi4NTEE BALANCE SHEET AS AT 31ST ITrlARCH 2025 2025 2024 Notes FIXED ASSETS Tangible Assets Inve8tTnent5 12 13 33.656 123,331 156,987 41,074 119,960 161,034 CURREIYT ASSETS Debtor5 Bank and Cash Balances 14 149.522 406.655 556,177 86,642 336,041 422.683 CREDITORS - AMOUNTS DUE WITHP4 OPIE YEAR 15 296,960 231.210 259?17 191,473 IYET ASSETS 416,204 352,507 Unrestricted Funds General Funds Designated Funds 16 206,460 209,744 179,500 173,007 416,?1)4 352.507 Restrleted Funds 16 TOTAL FUNDS 416,204 352,507 These fJnan¢ial statements have been prepared and delivered in accordance with the provisions applicable to companies subject 10 the small companies, regime and in accordance with FRS 102 'The Finallcial Reporting Standard applicable i the UK and Republic of ITeland'. For the year ending 31 st March 20?5 the company was entitled to exemption from audit under 5ECtiort 477 of the Companies Aci 2006 relating to S￿￿11 compallies. Directors, responsibilities.. The members have not required the cotnpany to obtain an audit of its financial statements for Ihe year in question in accordance with section 476: The directors acknowledge their responsibiliiies for complying with ihe requirements of the Act with respect lo accounting records and Ihe preparation of financial staiemenis. These fit)ancial statemenis were approved by the board of directors and auth0ri5ed ftsi issue on 10th December 2025 and are signed on behalf of the board by.. M.B. STO Chairperso cior Company Number '. 03359861 rhe nutes on poges 19 10 28form parl of thesefinartcial statements. Page 19 R.II.W.E LIIWIITED A COMPANY LIMI'fED By GVARANTEE NOTES TO THE FINANCIAL STATEMELNTS- YEAR ENI DED 31ST I¥IARCH 2025 ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of e5titnation uncerrainty in the preparation of the fjnancial 8tatements are as follows.. al Basis of Pre aratloll The financial statements have been prepared under the historical cost convention, and in accordance with the Charities.. Statejnellt of Recommended Practice (applicable to Chariiie8 preparing their accountb in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211 (issued in October 20191 (Charitie8 SORP IFRS 10211, Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. R.H.W.E. Limited meet8 the definition of a public benefjl entity under FRS 102. As5et5 and liabilities ale initially re¢ognised at historical cosi or iransaciion value unless othenvise stated in the relevant accounting poliLy Thote. b) Pre aration of the Finaiicial Statements on a Goin Conetrn Basis The Trnslees consider thai Ihere are no material uncenainties about Ihe Charity's ability to continue a5 a going concern. There are no signifjcani judgmenis or key sources of estimation uncertainty that affect the finaiicial statements. cl Cash Floiy Statement The TnLStees have taken advaniage of the exemption from including a cash flow statement in the financial staiemenis on the grounds Ihat the Charity 15 Stnall. d) Income All income is recogrtised once Ihe charity has entitlement io ihe income. it is probable that the income will be received and the amount of income receivable can be measured reliably. The following specific policies are applied 10 particulai categories of income.. Voluntary income received by way of grants is included in full in the Siatemeni of Financial Activitie8 whet) receivable. Granis, where entitlement is not conditional on the delivery of a Specifi perfomunce by the Charity, are recognised when the Charity becomes unconditionally entatled lo the grant. Rent, tenants overhead charges al￿ rootn hire is included in full in the period to which it relates. InvestD]eTht income is included when receivable. Other income 15 included when receivable. e) Fund Accountin Unrestricied Funds are fund5 which are available foi use at the discretion of the trustees in furtherance of ihe general objective5 of the Charity and which have not been designated for other purposes. De8ignaied Funds are unrestricted ￿ttds set aside by tbe tNstees for particular purposes. Provision ha5 beell n]ade for a propeny repair fund, a develOp￿ent tund, a restructure fund. an IT upgrade fund and a tangible fjxed asset fund. Page 20 R.11.W.E LIMITED A COMPANY LIMITF.JI BY GUARANTEE NOTES TO THE FINANCIJIL STATEfvIEINTS- YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES e) Fund Accountill Restricted Funds are funds which are lo be used in accordance with specific restrictions itnposed by donors or which have been raised by the Charity for particular purpose8. The eosl of raising and administering such funds are charged against the specific fund. enditure and Irrecoverable VAT Expenditure LS iecognised once there is a legal or constructive obligation to make payn]ent to a third party, it is probable thai settlement will be required and the amount of ihe obligation can be measured reliably. Expenditure is classified under the following activity headings. Charitable expendiwre comprises those cosis incurred by the charity in the delivery of its aciiwities and services for its beneficiaries. It includes both costb that can be allocaied directly to such activities and thoqe cosi8 of an indirect nature necessary 10 5UPPOrt thetn. Govemance costs include those Costs associated with meeting the ¢onsiitutional and qfatutory requiremen18 of the charity and include independent examination fees and cosis linked to the strategic managemeni of the charity. Expenditure on granis is recognised once the trustees have made an unconditional comn]itment to pay the grant and this is Communicated to the benefIciary. trrecoveiable VAT is charged as a cost againsi ihe activity for which the expenditure was incurred. ort Costs Support costs are those functions that assist in the work of the charity but do not directly undertake charitable activities. Support cost5 include office cost%, finance, paiyoll and governance costs which 5UPPOrt the charity, activities. These cos15 bave been ineluded within expenditure on charitable activities. eratin Lease A reemetlts Relltals applicable to operating leases where substantially all the benefits and risks of ownership retnain with the le88or are charged to Ihe SOFA as inLurted. ible Fixed Assets and De reciatio Tangible Fixed Assets are stated at cost les5 depreciation. Depreciation is calculated to write off the cosi of fixed aqsets over the txpecled useful lives of the assets concerned. The principal annual raies for this purpobe, which are consistent with Ihose of the previous year, are'.- Fixture5 and Equipment Solar Energy Equiptnellt 20 & 33 on a straight line basis on a straight line basis j) Jnvestments Fixed asset investments. ale Inc1L￿ed at market value at the balance sheet date. Page 21 R.H.W'.E LlfwllTED A COTrTPANY LIMITED BY GUAR.4NTEE NOTES TO THE FINANCIAL STATEiikIENTS- YE,iR [￿DED 3EST MARCH 2025 ACCOUNTING POLICIES j} Illve5tfflents icuisilittied) Realised gains and losse5 on investtnents ar¢ calculated as the difference betweet) sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the slatemeni of financial activities in the year of disposal. Utjrealised gains and losses iepiesent the movement in tnarket value5 during the yea[ and are credited or charged to the statement of financial actiTrities based the market value at the year end. kl Debtors Trade and other debiors are recognised at the settlement Amount due after any trade discount offered. PrepaJTrents are valued al the amount prepaid net of any trade discounts due. 11 Cash at Bank and in Hand Cash at bank and in hand comprises peity cash and funds held in the charity bank current account and deposit a¢counl. m} Creditors and Provisions CreditOTS ale recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 10 a third paty and the amount due to settle the obligation carl be measured or estI￿ated reliably. Creditors are nomially re¢ognised at their settlement atnount after allowing for any trade discounts due. Rl Financial lllstruments The Charity only has financial as8ei8 and financial liabilities of a kind thai qualify as ba%ic financial instruments. Basic financial insirnrnenlq are initially recognised at transaction value and subsequently measured at their settlejnent value. ol Retirement Benefits The obli¥atiot15 for contributions to defined contribution reiirement benefjt schemes are recognised as the expense is incurred. The assets of the scheme are held separaiely from those of the company in an indepelldet)tly ad1n1￿lStered filnd. ee Benefits The costs of 5hort-temi employee benefjts are recogni%ed aq a liability and an expense. The cost of any unused holiday entitletllent is recognised in the period in which the employee s services are received. LEGAL STATUS R.H.W.E. Limited is a company limited by guarantee and as such has no share capÉtal. In tbe eveni of the Cbariry being wound up, the trustee5 would be required to contribute an amount not exceeding £10. Page 22 R.H.W.E LIMITED A COMPANY LIIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATE￿IENTs- YEAR E￿DED.I1sT MARCH 2025 INcofwIE FROLM CHARITABLE ACTIVITIES 2025 Total 2024 Total Unr¢5tricted Restricted 171,467 20,891 38,339 585 171.467 20.891 38,339 585 186,247 26,288 39,712 Tenants Overhead Charge Room Hire and Conferences Education and Trainillg Courses Referral Fees FIT Income 73 13,663 15.148 15,148 ?46.430 ?46,430 65,983 INVESTMENT INCOME 2025 Total 2024 Total Ullre5tricted Restricted Bank Intere8t Received 5,435 5,435 1,369 DONATIONS AIYD LEGACIES 2025 I'otal 2024 Total Unrestricted Restricted Grants Dot]ations 750 5,085 215.554 216,304 5.085 97.584 481 5.835 215.554 2?1,389 98,065 R.H.W.E. Limited were extremely grdteful to receive the following gran18 during tbe F￿a￿Cial yeai.. Newcastle City Councll UKSPF Employment Ind Skllls Strand 2.. Provision ot. l.. l and nployability iouries and 1rdirting￿ ILTr SUPPUrt pL￿pIl Inlu work. 75.982 New¢*stle City Council N¢ivrastle High Street5 Our Adelllide TerracE Grittt: To 5UPPUrt Do li Together cvent£ and a¢iivitle5 10 proinoi¢ inclusivity and 8U4Eainability to 5UPPOrt the businL%S and local comrnunilie5 living around Adelaide Terrace in E15wick, Newcastle. 9.996 Newcastle City Council Economic Developmenr Flexl Fund: Supporting participants witli re%Durce5 and expenscs as they pursue the Lhariiy s support on a pathway 10 work or s¢lt ¢Mploymtni. 872 Newcistle City Council UKSPF Localised Pro1￿5]0￿ Support.. ProvTrsion ot l..1 workshups and Inastercla44 aciiviiies to assisi Newcasile residenis and business Start-UP5 and exi51in¥ eTrteryrlse￿ tn up and grow. 76,269 The Wlse Group UKSPF Employmellt Skills Strand l.. Provision of l.. l coaching 10 retnoye batrieis 10 WOTk and support econornically inactive people in Newcastle. 52.435 P8ge 23 R.H.W.E LlTr¥llTED A COMPANY LI￿lITED BY GUAIL4NTEE NOTES TO THE FIN*liYCIAL STATEINI1￿'TS- YEAR ENDED 31ST i¥IARCH 2025 DONATIONS AND LEGACIES r..,,,,,,,. Continuing frorn overleaf. R.H.W.E. Limtted were extremely grateful to receive the following granis during the financial year.. Newc#$tle City CouJ]cil= Wellbeing Hub project. 250 Commuttltv FollndRtioll= D¢liv¢ring an ￿gagmen1 ev¢ni. 500 216,304 EXPENDITURE ON CHARITABLE ACTIVITIES 2025 Total 2024 Total Unrestrieted Restricted Business Centres Repair5, Maintenance and Depreciation Heat and Light Rate5 and Water Insurattce Security C05t5 Cleaning 38.713 54.858 20,576 4.891 4,023 38.713 65.000 25,576 4.891 4.0?3 19,209 65,448 23,500 13,598 5,002 4,378 l R,585 10,142 5,000 142,?70 15,142 157,412 130,511 C05t of Events alld Activilies Oiher Event8 Advertl5ing Marketillg and ReC￿ltment Busines8 Re%ources Tutoring Costs Volunteer Expenses Confetence Cost 1.841 2,153 46 1,841 2,792 841 34.531 944 3.337 1,958 3,176 540 23,190 639 795 34,531 150 794 3,337 5,162 8,171 36,115 44.286 34,138 Management and Administrative C05tS Staff Costs (Notc 81 Training Office Costs Legal and Professional Fees Accountancy Bookkeeping Bad Deb15 Goveman¢e Costs (Note 71 Bank Charge5 and Interest 12,053 358 15,255 7,328 6,625 2,250 1,992 975 97 150,645 162,698 358 28,907 7,328 6,625 2,250 1,992 975 97 157.466 13,652 20,546 8.070 6,450 1,200 262 950 46,933 164,297 211.230 195,755 197,374 215.554 412,928 360,404 Page 24 R.H.W.E LliTrll'fED A COMPANY LID¥lITED BY GUARANTEE NOTES TO THE FILYANCIAL STATEIWIENTS- I'EAR ENDED 31ST I¥IARCH 2025 GOVERNANCE COSTS 2024 Total Unrestricted Restrieted T(btal Independent Examiners Fees 975 975 950 975 975 950 ANALYSIS OF ST AFF COSTS TRUSTEE REl￿[uNE￿￿TIoN AND EXPENSES AND THE COST OF I¥IANAGEI IWIENT PERSONNEL 2025 Total 2024 Total Unrestrieted Restrieted Staff Salaries Etnployer% NI Pension Cost Agency staff 9,928 512 287 1.3?6 124,093 6,392 3,582 16,578 134,021 6,904 3,869 17,904 144,964 8,105 4,397 1?,053 150,645 162,698 157,466 No employee received emoluments in excess of £60,000 during the year {2024.. £nill. No Trll%tees, nor any persons connected with thetn, have received any remuneration from the Charity during ihe year {2024.. £nill. No Trustees have iecesved any reimbursed expenses or any oiher benefit% frotn the Charity during the year12024.' £ns1}. The key management pe150nnel of the Charity cornprise the Trustees, the Chief Executive and the DevelOp￿t￿t Officer. The Employee benefits. including pension contributions, of the Chief Executive and the Development Otricer were £84,7?012024.. £93,195). STAFF NUMBERS The average monthly head count was a% follows.. 2025 Number 2024 umber Managemeni Administrative Staff Total Page 25 R.H.W.E Lif*iiTED A COMPANY LIMITED BY GUARANTEE YOTES TO THE FINANCIAL 8TATEMEIN.TS- YEAR EYDED 31ST MARCH 2025 io RELATED PARTY TRAIVSACTiof4S No tran%actions with related panies were undertaken such as are required 10 be disclosed under FRS 102. I I T AXATION The company is a registered Charity and accordingly is exempt from tax on its income and gains falling within section 505 of the Taxe5 Act 1988 or sectloll 256 of the Taxation ot Chargeable Gains Act 1992 to the extent that thebe are applied to it5 charitable objects. No lax charges have arisen in the Charity. 12 TANGIBLE FIXED ASSETS Solar F.nergy ui Fixtures & ui Total COST At I si April 2024 Additions Disposal8 Ai 3 Isl March 2025 88,971 149.522 238,493 15,086) 144,436 (5.0861 233,407 88,971 DEPRECIATION At 1st April 2024 Charge for year Disposa15 At 31 st March 2025 54,866 4,449 142,553 2,969 15,0861 140,436 197,419 7,418 15,0861 199,751 59,315 NET BOOK VALUE At 31 sl March 2025 29,056 4.000 33,656 At 3 Isl March 2024 34,105 6,969 41,074 Page 26 R.H.W.E LIMI'I'LD A COMPANY LIMJTF.D BY GUARANTEE NO'fES TO THE FINANCIAL sTATE￿L IEliTS- YEAR EYI DED 31ST IWIARCH 2025 13 INVESTMENTS Managed Investjnent Porrfolio 2025 2024 Market Value at 1st April 2024 Unrealised Ga]￿(LoSS) in Year 119,960 3,371 111,383 8,577 Market Value at 3 1st March 2025 123,331 119,960 During the year ended 31 sl March 2018, R.H.W.E Limited invested £IOO,000 into an investment ponfolic>. The tr￿teeS made this investmeni to safeguard tunds, to meet Ilie costs, that the Iru5tees have identified a% part of the Chari￿$ designated reserves. This investment portfolio, which includes quoted equitie8 and bond8, is managed by Heartwood Investment Managetnent, who have provided the year end valuation. Each year the charity recognibes the movement in the ￿arket value of the iuvesttllenl portfolio. 14 DEBTORS 2025 2024 Trade Debtors Prepaynen15 Other Debtors 22,838 26.932 99,752 30.746 19.732 36.104 149.522 86.642 IS CREDITORS 2024 Amounts due TrvithiR one year . Trade Creditors Rent Deposits Sundry Creditors and Accruals Value Added Tax PAYE 70.023 21.103 201,838 875 3,121 79,683 23,570 122,064 ?,662 3,231 296,960 231 ?10 Page 27 R.H.W.E LIMITED A COMPANY LIMITED BY GUAIL4ryTEE NOTES TO THE FIYANCIAL STATEIWIENTS- YEAR ENDED 31ST ￿[ARCH 2025 16 STATEMENT OF FUNDS Balance 1st April 2024 Unreali5ed Balance Investment 31st March Gain 2025 Income Transfers Ex ended Vnre5tricted Fuiid5 179,500 257,700 136,737} 1197.374) 3,371 206,460 Designated Funds 173,007 36,737 209,744 Restricted Funds 215,554 1215,5541 352,507 473 ?54 1412,9281 3.371 416.204 Unreslyicled Funds The%e are funds ivhich the Trustees are free to Use irl accordance with the ChariW5 objectives. De4i¥nated Fund5 are unrestricted funds set aside by ihe TNsiees for particular purposes. The Trustees consider it prudent 10 Tnake provision for a propety repair fund, a developmeni fund. a restru¢wre ￿nd, an IT upgrade fund and a tangible fixed asset fulld. as follows.. Pi'opeyty Repciir Fiind.. The Charity has two bu%iness centre buildings on a long-terni full repairing and itlsuring lease from Newcastle City Council and the Trustees are aware that all properties wtll need refurbishmeni alld potential on an ongoing basis. This fund set8 a8ide e$8ential repair work8 and dilapidations a5 the buildings age. DeiyelDPnlenl Fund.. The Trustees recogniK that in expanding and etnbedding R.H.W.E. Lirnited new piogratnnie5, a fund is required to cover the risks associaied with new work. Re.Flructure Fund.. Thi8 ￿nd has been established to fund the costs of any future restructuring at R.H.W.E. Limiied. Jr Upgrllde Fund.. This fund has been established to fund the costs ol upgiadthg technology Infrastruc￿re including the costs of changing IT hardware and software. Tangible Fired Assei Fund.. This purpose of this fund is to fund future fixed assets. Rgstrirted Fmnds These are funds received for specific purposes and proje¢is. Please see noie 5 for the funds that were received ihis year. All restncted fund.% for projecis delivered during the yeai were spent and claims drawn down by the year end. Page 28 R.H.W.E LIMITED A COMPANY LI￿.[ITED B Y GLTARANTEE NOTES TO THE FINANCIAL STATEMENTS- YEAR LNDED 31ST MARCH 2025 17 INDEPENDENT EXAMINER'S FEE 2025 2024 Independent Exa￿]￿allOn 975 950 Managetnenl and administrative costs include £8,875 12024 .. £7.6501 re%peei of accountancy and book keeping services paid lo Bell Tindle Williarnson LLP in addition io the independent exarninatioll fee. 18 ANALYSIS OF NET ASSETS Ullrestrieted Desi naied Restricted Total Tangible Fixed As'5et5 Investments Current Asseis Cu￿llt Liabilities 33,656 33.656 123,331 556.177 {296,9601 123,331 86.413 469,764 (296,9601 206,460 209.744 416,204 19 VLTIMATE CONTROLLING PARTY In the opinion of Ihe Trustees, there is no ultimate controlling party of the Charity Other than the board itself.