REGISTERED COMPANY NUMBER: 04723576 (England and Wales} REGISTERED CHARITY NUMBER.. 1101078 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2025 for free@last free@last 25th Anniversary
free@last Contents of the Financial Statements ft>r the Year Ended 31 December 2025 Page Reference and Administrative Details ChaiV$ Report Dlrector's report Report of the Trustees Independent Examlner's Report Statement of Financial Activities Balance Sheet 10 to 11 Cash Flow Statement 12 Notes to the Cash Flow Statement 13 Notes to the Financial Statements 14 to 25
free@last Reference and Administrative Details for the Year Ended 31 December 2025 TRUSTEES Rubina Darr John Richard Moore Naomi Spencer Rashida Sharif Arthur Tsang lappoinled 11.2.251 Ayyab Cockburn18ppoinled 11.2.251 (resigned 9.6.251 Elaine Limond (appointed 11.2.251 Natalie Queiroz (appointed 4.1.261 COMPANY SECRETARY John Street REGISTERED OFFICE 49 Nechells Park Road Birmingham B7 SPR REGISTERED COMPANY NUMBER 04723576 (England and Wales) REGISTERED CHARITY NUMBER 1101078 INDEPENDENT EXAMINER Locke Williams Associates LLP Chartered Accounlanls Studio 2 50-54 Sl Pauls Square Birmingham Wesl Midlands B3 1QS BANKERS HSBC 9 Queens Square Wolverhampton West Midlands WV1 1TE Page 1
free@last Chair's Report for the Year Ended 31 December 2025 As the incoming Chair, I have known of tree@lasl for a number of years through my work with vulnerable young people and focus on empowering all young people to overcome challenges and barriers lo live their best lives. My passion to help them realise their true worth 8nd potential meant free@last was always a natural onneclion for me. After spending lime as an ambassador for the charity, il was an honour lo step into the role of Chair of Trustees this year to help shape and steer this incredible charity. The board of trustees brings an incredibly strong and diverse range of experience and expertise, so I look fonNard to further building onneclivity and effectiveness of the board lo reach ils true potential in bringing maximum value lo the charity and in turn the most benefit to the community in Nechells. With 26 years of service in and to Nechells, free@last has made a significant positive difference to thousands of children, young people and adults in the community over the years", and il is exciting to be part of ils continuous growth and evolution. As we build upon the experience of the last quarter of a century, we aim to evolve with the changing needs of the people in the Nechells community to best suit their needs and tackle their challenges - growing their opportunities and Choi$, which living in poverty can lake away from them. Fomily AGE Exp Culture I'm so proud to now be part of the Nechells community through the charity and be part of the free@last wider family, who are all working together to improve the lives and futures of so many children and young people. Thank you. Natalie Queiroz Chair of Trustees Page 2
free@last Director's report for the Year Ended 31 December 2025 Our children still live in povertyl There are. however, some changes on the horizon, including the government's Pride in Place, that will see a new investment in Nechells. There continue lo be a serious amount of challenges for us lo overcome, bul reaching the awful position of 55'/o children povety in our community has not happened overnight, and il will take a decade before we see the full impact of our work. Thankfully, even though it has been, and continues to be challenging lo meet local needs, we al free@last, continue our joumey with many local people, professionals and businesses, to provide a lifeline lo many, challenge to others and hope for the future. Regardless of the increasing pressures and challenges of the world and more locally, free@18St is still improving the lives of the chIldn and young people of Nechells. This year we celebrate 26 years of free@last supporting the people of Nechells and we have been blessed with hundreds of individuals, businesses, trusts and organisations who have believed in our work and enabled us lo make a difference in Nechells. We are forever thankful lo all of those who share our struggles and make life a little easier to manage, your continued support and generosity is amazing, thank you. John Street Director Page 3
free@last {Registered number: 047235761 Report of the Trustees for the Year Ended 31 December 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2025. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- OBJECTIVES AND ACTIVITIES Vision To improve the lives of the children and young people of Nechells. Mission free@last is committed to providing opportunities, activities, and support for children and young people in Nechells, and to further their interests by working with their families, other agencies and relevant professionals. Values Giving opportunities to all young people in Nechells without distinction. Alms and objectlves To engage children and young people in a range of developmental and progressive activities which provide opportunities for success and to broaden their horizons. To support children and young people through life's challenges and difficulties. To support their families to provide the best possible environment for their children lo grow, develop and flourish. To lake a multi-agency approach to improving the lives of children and young people. Publi¢ benefit The trustees confirm that.. in the exercise of their powers as charity trustees, they have dLJe regard to the published guidance from the charity commission on the operation of the public benefit requirement., and the aims of the charity are carried OLJt for the public benefit. The trustees consider the support to disadvantaged and poorer members of the community in Birmingham. and dissemination of lessons learned to the rest of the ountry, lo be of public benefit, having had regard to the Charity Commission's general guidance on public benefit. Page 4
free@last {Registered number: 047235761 Report of the Trustees for the Year Ended 31 December 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities CHILDREN & YOUNG PEOPLE Introduction The heart and soul of free@last is focused on the children and young people of Ne¢hells, with the aim of broadening their horizons through a wide variety of opportunities and unconditional support to help them through the difficulties and challenges they face. We are a needs-led organisation that builds positive and meaningful relationships with young people and through these relationships we are able to constantly adapt and develop our work to flect the desires and dreams of those we are he to serve. Youth Activities Usually, at free@18St we run seveml youth clubs lo help give children aged between five and twenly-five a safe environment lo relax and have fun together whilst al the same lime build confidence, new friendships and positive relationships. These clubs offer participants access to our other services as well as off-site trips and activities. Alongside the youth clubs we run other clubs and activities including a young peoples, Rotary group, business skills, and life skills for young people. Families We continue to support many families, providing support for children and parents, whole family activities lincluding a monthly fishing clubl, day trips and families residentials. During Christmas, we run several family orientated events, including our sil-down meal on Christmas Day, allended by 88 people. This is a wonderful way for them all lo enjoy Christmas together. Community Our experience has shown that a supportive, understanding and friendly approach is essential for those with a variety of challenges and difficulties, to feel relaxed and comfortable discussing their personal circumstances with someone else. We offer a 'help' service whereby local people can ask our volunteers any questions, and we will go on a journey with them to help find the answers. We continue to support people with many Issues, including financial support, housing issues, addiction, the criminal justice system, parenting, digital povety, grief, and employability to name just a few of the many Issues we have supported people through over this past year. We also provide a variety of opportunities for people lo build friendships, support each other, learn new skills and have fun together. Our coffee morning and quiz still continues weekly, along with English language lessons and skills to leam to use digital equipment. Our range of services for OLJr community is based on our capacity lo deliver, and can only be increased with more staff focussing on our communities needs. What practical difference do we make? With the Continue of world challenges, moving from last years crisis, to Middle Eastern wars, we have seen the continued effects and effects of financi81 problems for those we serve and for ourselves. These challenges have included team members moving on, the closure of businesses and the lack of ineome from our business trading and reduced financial support from our regular supporters. However, we have still provided a great deal of support and opportunities for the children and young people in our community, and many adults too, and an increase of support and partnership from businesses like Deloitte, Booghe Toys, Sunrise NeOrkS, Auloworks, SSK Interiors and many, many more. Regardless of the challenges we have faced as an organisation, we have still provided an excellent array of opportunities for our children and families, from sporting activities, nature exploration, skills lessons, help and support in all aspects of life, craft creation and entrepreneurial development, day trips and holidays and weekly opportunities to play, learn and socialise. Our innovative and passionate team of supporters and partners have continued lo provide the support and the finanS to help us continue serving our local community and improving the lives of our children and young people. Page 5
free@last {Registered number: 047235761 Report of the Trustees for the Year Ended 31 December 2025 Businesses 11 is the intention of free@lasl lo become as self-sustaining as possible through running our own businesses and generating our own income from a wide variety of sources. This accounting year has seen another decline in our business income, but we continue to Wotk hard to create profitable opportunities to eam our own money and enable self-sustainabilily. We are still aiming at increasing our business profit for free@last so that we Can recruit staff members for 8t least 10 years, rather than losing key employees due lo funding restrictions. J* Family Fun Zone The new Family Fun Zone is located in a shopping centre on the high street of Sutton, Surrey. It is 12 times bigger than our Birmingham venue, with many more activities and many more challengesl11 is yel lo generate an income for free@last, bul hopefully this will change as it embeds itself into the local economy and entertainment scene. FINANCIAL REVIEW Principal financial management policies The company Is small with limited reSoUrs. 11 operates on the basis of spending as little as possible on whatever il buys and ensures there are funds in the bank before making any commitment. General financial review Over the past year we have generated income through a variety of different means, including grant making Irusls, use of our ntre, fundraising, events and general appeals. We have a solid financial position, which we have worked hard lo achieve and are now working towards growth, primarily through generating income through our own businesses, free@lasl Kid's Fund la monthly giving scheme) and a calendar of events. Our fvjture plans are to increase the Impact and availability of our services lo more people who live In Nechells. Unrestricted funds have increased in the year from £60,85110 £104,001. Reslricled funds have decreased in the year from £1,871,611 10 £1,819,555. This is in large part to the depreciation of the building and other assets held in these funds, and the challenges we have faced in generating our income. Reserves policy The Iruslees are working towards holding unrestricted reserves sufficient to meet the charity's day lo day expenditure for six months. This target is a long way from being fulfilled and will take several years to achieve. Reslricled funds will depend on timing of securing and receiving funding and liming of the expenditure on activities. FUTURE PLANS Over the following year our plans are as follows.. We aim to inerease the provision of our youth services lo fill the gaps and enable all OLJr young people lo aCsS services and support for improving their lives. We aim to provide new services lo address some of the health inequalities and difficulties that our community faces, particularly sporting initiatives. Increase the involvement of young people and adults in social action in our neighbourhood. Generate more self-funded Income through our businesses. We aim to develop the relationships we have with businesses and improve our partnership working In all 3 sectors. Page 6
free@last {Registered number: 047235761 Report of the Trustees for the Year Ended 31 December 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document and Charity Constitution free@last began In August 1999 and first registered as 8 Charity on 9th December 1999 and then became a haritable company limited by guarantee on 4th April 2003. The charity and Company numbers and other information are included as a front sheet. The company was established under a Memorandum of Association which es18blished the objects and powers of the company. 11 is governed under its Articles of Association under which the board of directors Iwho are also Trustees of the charitable company) are elected al AGM lo setve for a period of up to three years. Recruitment and appointment of new trustees The Iruslees are appointed by the board. The company requires a minimum of three and a maximum of twelve Iruslees lo be appointed. The board identify areas where particular knowledge or expertise is required and seek to recruit new trustees by advertising, personal contacts and recruitment events. Oryanisational structure The charity is a small entity which is run on a daily and operational basis by the chief executive together with a number of employees and volunteers. The board of trustees meet a Minimum of four limes a year and take responsibility for decisions regarding services, the building, people and the businesses operated by the charity. Induction and training of new trustees Potential Iruslees attend the premises and a boardlcommittee meeting as part of the induction process to ensure they are familiar with the seNices provided and our procedures. They complete an application form and are then approved by the board before appoinlmenl. Risk management The trustees have a duly to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place lo provide reasonable assuran against fraud and error. The major risks lo which the charity is exposed, as identified by the Iruslees, have been reviewed and systems established to mitigate those risks. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating lo small companies. Approved by order of the board of trustees on 8June 2026 and signed on ils behalf by.. ok4 Moo*g John Richard Moore - Trustee Page 7
Independent Examiner's Report to the Trustees of free@last (Registered number: 04723576} Independent examinerfs report to the trustees of free@last I'the Company'l I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025. Responsibilities and basis of report As the charity's Iruslees of the Company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 A¢l'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner musl be a Member of a listed body. I can confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accounlanls in England and Wales, which is one of the listed bodies. I have completed My examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records,. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. David Williams FCA FCCA Locke Williams Associates LLP Chartered Accounlanls Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS Dale.. 16 June 2026 Page 8
free@last ststement of Financial Activities Ilncorporating an Income and Expenditure Account) for the Year Ended 31 December 2025 31.12.25 Total funds 31.12.24 Total funds Unrestricted funds Reslricled funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 164,173 117,759 281,932 184,526 Charitable activities Famity Fun Zone Sutton 400,000 Other trading activities Investment income 40,853 40,853 132,887 Totsl 206.486 117.759 324,245 719,577 EXPENDITURE ON Raising funds 10,048 10,048 123,722 Charitsble activities Charitable Famity Fun Zone Sutton 153.288 169.815 323.103 316,413 41 $,908 Total 163.336 169.815 333.151 857,043 NET INCOMEIIEXPENDITUREI 43,150 152,0561 {8.9061 1137,4661 RECONCILIATION OF FUNDS Total funds brought forward 60.851 1.871.611 1.932.462 2,069,928 TOTAL FUNDS CARRIED FORWARD 1819555 1923 556 1,932,462 The notes form part of these financial statements Page 9
free@last {Registered number: 04723576) Balance Sheet 31 December 2025 31.12.25 31.12.24 Notes FIXED ASSETS Tangible assets Investments 14 1.850,979 100 1,882,926 100 1.851.079 1,883,026 CURRENT ASSETS Debtors Cash al bank and in hand 16 12,400 73,247 12,400 61,419 85.647 73,819 CREDITORS Amounts falling due within one year 17 113.1701 115,6091 NET CURRENT ASSETS 72.477 58,210 TOTAL ASSETS LESS CURRENT LIABILITIES 1,923,556 1,941,236 CREDITORS Amounts falling due after more than one year 18 {8,774) NET ASSETS 1923 556 1 932,462 FUNDS Unrestricted funds Restricted funds 21 104,001 1819,555 60,851 1,871,611 TOTAL FUNDS 1923 556 1932 462 The charitsble company is entitled to exemption from audit under Secti'on 477 of the Companies Act 2006 for the year ended 31 December 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the stste of affairs of the charitable company as at the end of each financial year and of ils surplus or deficit for each financial year in accordan with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial statements, so far as applicable lo the charitable company. Ibl The notes form part of these financial statements Page10
free@last {Registered number: 047235761 Balance Sheet- Continued 31 December 2025 These financial slalemenls have been prepared in accordance with the provisions applicable lo charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 8 June 2026 and were signed on ils behalf by. ohk Mook-g JGTrn In 12. 202£ 1£ 34 ogcMT+11 John Richard Moore - Trustee The notes form part of these financial statements Page11
free@last Cash Flow Statement for the Year Ended 31 December 2025 31.12.25 31.12.24 Notes Cash flows from operating activities Cash generated from operations Interest paid 21,015 358 1115.3911 6141 Net cash provided byllused inl operating activities 20.657 116,0051 Cash flows from investing activities Purchase of fixed asset investments Interest received 11001 2,164 1.460 Net cash provided by investing activities 2,064 Cash flows from financing activities Loan repayments in year 10,289 10,0341 Net cash used in financing aelivilies 10,2891 10,0341 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 11.828 1123,9751 61 185,394 Cash and cash equivalents at the end of the reportlng perlod 61,419 The notes form part of these financial statements Page12
free@last Notes to the Cash Flow Ststement for the Year Ended 31 December 2025 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.12.25 31.12.24 Net expenditure for the reporting period las per the Ststement of Financial Activities) Adjustments for: Depreciation charges Interest received Interest paid Increase in debtors Deease in creditors {8,906) 1137.4661 31,946 11,460) 358 39,087 12,1641 614 112,4001 923 Net cash provided byllused inl operations 21,015 115.3911 ANALYSIS OF CHANGES IN NET FUNDS Al 1.1.25 Cash flow At 31.12.25 Net cash Cash al bank and in hand 61,419 11,828 73,247 Debt Debts falling due within 1 year Debts falling due after 1 year 110,2901 8,774 1,516 8,774 {8.774) 19.064 10,290 .774 Total 42.355 The notes form part of these financial statements Page13
free@last Note$ to the Financial Statements for the Year Ended 31 December 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared In accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included al market value. Income All income is recognised in the Statement of Financial Activities once the charity has entidement lo the funds, il is probable that the income will be received and the amount can be measured reliably. For donations lo be recognised the charity will have been notified of the amounts and the settlement date in writing. No amount is included in the financial statements for volunteer lime in line with the Charities SORP {FRS 1021. Further detail is given in the Trustees, Annual Report. The charity receives grants in respect of its core activities. Income from government and other grants are recognised al fair value when the charity has entillemenl after any performance conditions have been met, il is probable that the income will be received and the amount can be measured reliably. If entillemenl is not mel then these amounts are deferred. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and servi$ in order lo raise funds and is recognised when enlitlemenl has occurred. Interest on funds held on deposit is included when re1vable and the amount can be measured reliably by the charity,. this is normally upon nolificalion of the interest paid or payable by the Bank. Expendituro Liabilities are recognised as expenditure as soon as there is a legal orconstruclive obligation commilling the charity to that expendilLJre, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly atlribLJted lo particular headings they have been allocated lo activities on a basis consistent with the use of resources. Costs of raising funds includes direct staff and other costs for trading activities to raise funds. Grants offered subject lo conditions which have not been mel at the year end date are noted as 8 commitment but not accrued as expenditure. Tangible fixed assets Depreciation is pmvided at the following annual rates in order to write off each asset over its estimated useful life. Long leasehold Equipment Fixtures and fittings Motor vehicles Computer equipment Over the period of the lease 40/0 on cost 100/0 on cost 25010 on reducing balan 330A on cost The leasehold building is held under a 125 year lease with Birmingham City Council until August 2141. Page 14
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 ACCOUNTING POLICIES- continued Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the 8mount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held al call with banks. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from 8 past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation ean be measUd or estimated reliably. Creditors and provisions are nomally recognised at their selllemenl amount after allowing for any trade discounts due. Operatlng Leases Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease. Taxation The charity is registered with the Charity Commission and under the provisions of Section 478 Corporation Tax Act 2010, is exempl from liability lo laxalion on its charitsble activities.. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the Iruslees. Reslricled funds can only be used for particular restricted purposes within the objects of the charity. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the financial statements. DONATIONS AND LEGACIES 31.12.25 31.12.24 Donations Gift aid Grants 78,877 3,115 199,940 51,601 132 925 281,932 184,526 OTHER TRADING ACTIVITIES 31.12.25 31.12.24 Fundraising events Family Fun Zone Room hire fees Climbing wall Brumting 29,499 318 8,807 1,620 609 61,168 57,978 12,733 1,000 40,853 132,887 Page15
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 INVESTMENT INCOME 31.12.25 31.12.24 Deposit account interest 1,460 2,164 INCOME FROM CHARITABLE ACTIVITIES 31.12.25 31.12.24 Activity Family Fun Zone Sutton Grants 400,000 Grants received, included in the above, are as follows.. 31.12.25 31.12.24 Other 400,000 See note 22 for further details. RAISING FUNDS Raising donations and legacies 31.12.25 31.12.24 Fundraising events costs Brumting Interest payable and similar charges 9,155 366 358 21,567 92 614 9,879 22,273 CHARITABLE ACTivrfiES COSTS Support costs (see note 91 Direct Costs Totals Charitable 320 943 323 103 GRANTS PAYABLE 31.12.25 31.12.24 Family Fun Zone Sutton 416,908 The total grants paid lo institutions during the year was as follows.. 31.12.25 31.12.24 Famity Fun Zone Sutton Coldfield 416,908 See note 22 for further details. Page16
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 SUPPORT COSTS Governance costs Charitable 2,160 Support costs, included in the above, are as follows". 31.12.25 31.12.24 Total activities Charitable Accountancy and legal fees 10. NET INCOMEIIEXPENDITUREI Nel incomellexpendilure} is slated after chargingllcreditingl.. 31.12.25 31.12.24 Depreciation - owned assets 31.947 39,087 11. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024. Trustees. expenses There were no trustees. expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024. 12. STAFF COSTS 31.12.25 31.12.24 Wages and salaries Social security costs Other pension costs 159,590 5,821 213,675 14,685 3,159 168,492 231,519 The average monthly number of employees during the year was as follows.. 31.12.25 31.12.24 13 General employees No employees received emoluments in excess of £60,000. The total amount of employee benefits received by key management personnel for the period is £49,167 {2024 £50,000). Page17
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricled funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 60,878 123,648 184,526 Charitable activities Family Fun Zone Sutton 400,000 400,000 Other trading activities Investment income 132,887 132,887 Totsl 195,929 523,648 719,577 EXPENDITURE ON Raising funds 123,722 123,722 Charitsble activitios Charitable Family Fun Zone Sutton 90,463 16,908 225,950 400,000 316,413 416,908 Total 231,093 625,950 857,043 NET INCOMEIIEXPENDITUREI 135,164) 1102,3021 1137,4661 RECONCILIATION OF FUNDS Total funds brought forward 96,015 1,973,913 2,069,928 TOTAL FUNDS CARRIED FORWARD 60,851 1,871,611 1,932,462 14. TANGIBLE FIXED ASSETS Fixtures and fittings Long leasehold Equipment COST Al 1 January 2025 and 31 Dember 2025 1.842,084 125.480 147.825 DEPRECIATION Al 1 January 2025 Charge for year 94.561 36.577 117,624 At 31 DeMber 2025 109 298 123 539 NET BOOK VALUE At 31 December 2025 1,732,786 24,286 At 31 Dember 2024 1,747,523 88,903 30,201 Page18
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 14. TANGIBLE FIXED ASSETS- continued Motor vehicles Computer equipment Totals COST Al 1 January 2025 and 31 December 2025 60,354 35,797 2,211,540 DEPRECIATION Al 1 January 2025 Charge for year 44,055 4,075 35,797 328,614 31,947 Al 31 Dember 2025 48.130 35.797 360.561 NET BOOK VALUE Al 31 December 2025 1850 979 Al 31 Dember 2024 16,299 1,882,926 A legal charge is held against the property, in the name of The Big Lottery Fund, against the total sum of grant income reiVed for the rebuild of £967,537. The charge remains in place for enty five years from 15 August 2016. 15. FIXED ASSET INVESTMENTS Shares In group undertakings MARKET VALUE Al 1 January 2025 and 31 December 2025 100 NET BOOK VALUE Al 31 Dernber 2025 100 Al 31 December 2024 100 There were no investment assets outside the UK. The company's investments at the balance sheet date in the share capital of companies include the following.. Family Fun Zone (Sutton) Limited Registered office." 49 Nechells Park Road, Birmingham, England, B7 SPR Nature of business.. Other amusement and recreation activities Class of share.. Ordinary holding 100 31.12.25 31.12.24 Aggregate capital and reserves 1144,825) 100 Page19
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Amounts due from subsidiaries 12,400 12,400 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.25 31.12.24 Bank k)ans and overdmfts Isee note 191 Social security and other taxes Accruals and deferred income ,774 2,236 10,290 3,159 13,170 15,609 18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.25 31.12.24 Bank loans Isee note 191 8,774 19. LOANS An analysis of the malurily of loans is given below.. 31.12.25 31.12.24 Amounts falling due within one year on demand.. Bank loans .774 10,290 Amounts falling due beleen and five years.. Bank loans 8,774 The bank loan has been tsken out under the Government backed Bounce Back Loan scheme and is repayable over sixty months commencing from November 2021. Interest is charged at a fixed rate of 2.50A. 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.12.25 Total funds 31.12.24 Total funds Unrestricted Restricted funds funds Fixed assets Investments Current assets Current liabilities Long temi liabilities 64,453 100 52,618 {13,170} 1,786,526 1,850,979 100 85,647 113.1701 1,882,926 100 73,819 115,6091 8,7741 33,029 104001 1819 555 1923 556 1,932,462 Page 20
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 21. MOVEMENT IN FUNDS Net movement in funds At 31.12.25 At1.1.25 Unrestricted funds General Activities Building Fund 60,851 43,207 104,058 60.851 43.150 104.001 Restricted funds General Activities Building Fund Youth Sports Coaches Henry Smith Charitable Trust NeighboLJrly Seeds of Change Smurfitt Kappa SSK Big Issue Investment Wesylan Assurance Girls Room Music PrOdur Workshop Instructor Angling Trust Coalition For Impact SlreetGames - Holiday Activities Fund 908 1,811,594 11,105 19,826 314 1,119 965 8,000 4,820 4,680 15,899 1,317 18,936} 110) 125,528) {7.130) 1,311 898 1.786,066 3.975 21,137 314 {1,119) 965 2,936 {5,064) 14,820) {3,218} 115,554) 1360) 8,936 soo 1,462 345 957 soo 1,871,611 52,056 1,819,555 TOTAL FUNDS 1.932,462 906) 1.923.556 Page 21
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 21. MOVEMENT IN FUNDS- continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General Activities Building Fund 206,486 1163,279) 43,207 57) 57> 206.486 1163,3361 43.150 Restricted funds General Activities Building Fund Youth Sports Coaches Henry Smith Charitable Trust Smurfitt Kappa SSK Wesylan Assurance Girls Room Music PrOdur Workshop Instructor Angling Trust Coalition For Impact SlreetGames - Holiday Activities Fund 110) 125,529) 112,1481 173,6291 11,119) 15,064) 14,820) {5,218} 115,554) 1360) {7,064} 19 300) {101 {25,5281 17,1301 1,311 (1,1191 15,0641 14,8201 {3,2181 {15,5541 13601 8,936 soo 5,018 74,940 2,000 16,000 117,759 169,815 52,056 TOTAL FUNDS 324,245 333.151) 8.906) Page 22
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 21. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.12.24 At1.1.24 Unrestrieted funds General Activities Building Fund Youth and Children Activities Family Activities 85,323 6,802 830 135,1081 1561 50,215 6,746 830 96,015 135, 1641 60,851 Restricted funds General Activities Building Fund Youth Sports Coaches Norton Foundation - new computers ENT Room Henry Smith Charitable Trust Neighbourly Seeds of Change Smurfitt Kappa SSK Big Issue Investment BVSC HAF Wesylan Assurance Girls Room Music Producer Workshop Instructor Angling Trust Coalition For Impact 918 1,837,122 33,020 850 927 45,857 400 5,730 28,588 4,501 8,000 3,320 4,680 1101 125,5281 121,9151 18501 19271 126,0311 1861 (4,6111 127,6231 14,5011 908 1,811,594 11,105 19,826 314 1.119 8,000 4,820 4,680 15,899 1,317 8,9361 1.500 15,899 1,317 8,9361 1,973,913 102,302 1.871,611 TOTAL FUNDS 2 069,928 137 4661 1 932,462 Page 23
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 21. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General Activities Building Fund 195,929 1231,0371 135,1081 561 56} 195,929 1231,0931 {35,1641 Restricted funds General Activities Building Fund Youth Sports Coaches Norton Foundation - new computers ENT Room Henry Smith Charitable Trust NeighboLJrly Seeds of Change Smurfitt Kappa SSK Big Issue Investment BVSC HAF Girls Room Family Fun Zone Sutton Coldfield Workshop Instructor Bell Tents Capital Grants Angling Trust Coalition For Impact 20,000 120,0101 125,5281 122,1631 18501 19271 1101,0311 1861 (4,6111 127,6231 (4,5011 1101 125,5281 121,9151 18501 19271 126,0311 1861 14,6111 127,6231 14,5011 1,500 248 75,000 1,500 400.000 18,800 6,000 2,100 1400,0001 12,9011 (6,0001 17831 8,9361 15,899 1,317 8,9361 523 648 625 950 102 302 TOTAL FUNDS 719,577 857,0431 137,4661 Purpose of funds Gener81 Activities - Specific Core expenses ie Salaries etc. Building Fund To raise money for the purchase of a new building, which the charity purchased in 201712018. The fund is now also for the general upkeep of the propety in which the charity received restricted monies for. Youth & Children Activities- To provide support and development services to children and young people within the local community through the funding of several full lime and part lime youth workers. Family Activities - Families Project - To provide support and development services lo families in the local community in the Nechells area. Advice & Guidance - To provide free advice to residents of the Nechells area regarding financial difficulties and welfare benefit entiuements. Page 24
free@last Notes to the Financial Ststements - continued for the Year Ended 31 December 2025 22. RELATED PARTY DISCLOSURES The London Borough of Sullon provided capital funding of £400,000 in 2024 to Free@Last lo enable development of an indoor play centre at Store A, St Nicholas Shopping Cenlre. The funding was transferred by the Charity to its wholly owned trading subsidiary Famity Fun Zone Isuttonl Limited to construct and operate the play centre on a commercial basis. 23. COMPANY LIMITED BY GUARANTEE Free@last is a company limited by guarantee and accordingly does not have a Sha c8pII81. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is member, or within one year after he or she ceases to be a member. Page 25