**Registered number: 04358690 Charity number: 1103200** 

## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 AUGUST 2025** 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Chairman's Statement**|2|
|**Trustees' Report**|3 - 16|
|**Independent Auditors' Report on the Financial Statements**|17 - 21|
|**Statement of Financial Activities**|22|
|**Balance Sheet**|23|
|**Statement of Cash Flows**|24|
|**Notes to the Financial Statements**|25 - 46|





## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025** 

|**Trustees**|Mr M Stonard, Chair|
|---|---|
||Mrs L P Araujo Deus Gil (resigned 8 December 2025)|
||Mr A Darlow|
||Dr L Hallett|
||Mr B Keane|
||Mr A Mavroudis|
||Mr G J Nicholls|
||Dr J Packman|
|**Company registered**<br>**number**<br><br>**Charity registered**<br>**number**<br><br>**Registered office**<br> <br><br><br> <br>**Management**<br> <br> <br> <br> <br> <br>**Chief executive officer**<br> <br>**Independent auditors**<br> <br> <br> <br> <br><br> <br>**Bankers**<br><br> <br><br><br>|04358690<br>1103200<br>168b Motum Road<br>Norwich<br>Norfolk<br>NR5 8EG<br>Mr D Childerhouse, Chief Executive Officer<br>Mr M Chapman, Finance Manager<br>Ms D Edwards, Headteacher<br>Ms R Johnson, Operations Manager<br>Ms G Richardson, Support Services Manager<br>Mr D Childerhouse<br>BW Audit Ltd<br>Chartered Accountants<br>Berry & Warren<br>54 Thorpe Road<br>Norwich<br>NR1 1RY<br>HSBC<br>34 London Road North<br>Lowestoft<br>Suffolk<br>NR32 1EW|



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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025** 

The Chair of Trustees presents his statement for the year. 

It is a pleasure to introduce Future Projects� Annual Report for the year ended 31 August 2025. 

This has been a positive and important year for the charity. We have continued to work in a difficult environment, with rising hardship, more complex need and ongoing pressure across public services and the wider VCSE sector. Even so, Future Projects has continued to move forward with confidence, strengthening both the quality of our work and the organisation behind it. 

There is a great deal in this report to be proud of. Future Education had an outstanding year, marked by a successful Independent Schools Inspectorate inspection and strong outcomes for children and young people with complex needs. Future Support continued to provide vital help to people facing crisis, while also helping many build greater stability through advice, employment support, tenancy sustainment and community-based interventions. Future Radio remained a trusted local platform for creativity, opportunity and community voice, rooted in volunteering and participation. 

This year has also been important in how we have developed as an organisation. As demand and complexity increased, we continued to deepen trauma-informed practice, strengthen the skills of our teams and improve the way our services work together. We also made our carefully planned four-day working week arrangements permanent following a substantial period of trial and evaluation. This was a considered step, designed to support staff wellbeing, improve efficiency and help ensure our teams are rested, healthy and able to deliver exceptional quality across our services. Alongside this, we remained a Living Wage Employer and retained our Disability Confident status. These commitments matter because they reflect the kind of organisation we want to be: one that looks after its people as well as the communities it serves. 

What stands out most to me is the breadth of the charity�s work and the growing strength of the organisation behind it. We have continued to build trusted relationships in communities, work more closely with partners, and grow our confidence in areas where we can add real value. We do not always speak loudly enough about the importance of what we do, but this report shows clearly the depth, quality and impact of our work across Norfolk. 

I am also pleased that the charity ends the year in a stronger financial position. In a time of continuing uncertainty, that matters. It reflects careful stewardship, disciplined management and a clear focus on long-term sustainability, giving us greater resilience and a firmer foundation for the future. Since the year end, we have also secured significant new funding for employment support, giving us added confidence as we look ahead and further strengthening the charity�s resilience and future direction. 

On behalf of the Board, I would like to thank our staff, volunteers, governors, trustees, partners, funders and supporters for everything they have contributed during the year. Their skill, care and commitment are evident throughout this report. 

As we look ahead, we do so with both realism and ambition. The challenges facing our communities remain significant, but this report shows a charity that is stronger, clearer in its direction and increasingly well placed to make a meaningful difference. I am proud of what has been achieved this year and excited about what Future Projects can continue to become. 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025** 

The Trustees present their annual report together with the audited financial statements of the charity for the year 1 September 2024 to 31 August 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 

The charity also trades under the name Future Projects. 

## **1. Objectives, Activities and Public Benefit** 

## **Purpose, Mission and Values** 

Future Projects was founded in 2000 by two local volunteers who were increasingly concerned by the poverty, social exclusion and lack of support within their community in Norwich. They began by working alongside local people to understand their needs and ambitions and to develop practical responses shaped by the community itself. From those beginnings, the charity grew by responding to emerging needs and building on local strengths, developing youth programmes, informal education and skills initiatives, advice and guidance projects, and music, media and radio activity. 

That community-rooted approach remains at the heart of Future Projects today. While the charity has grown and evolved over time, its work continues to be shaped by listening well, responding early where possible, building on the strengths and assets of local people and places, and providing accessible, joined-up support within communities. 

Today, Future Projects delivers its work across Norfolk through three interconnected strands: education, support and community radio. Together, these create practical, community based responses that help people and communities to be heard, supported and connected, and reflect the charity�s longstanding commitment to prevention, inclusion and independence. 

Our **mission** is to tackle poverty, deprivation and disadvantage in Norfolk. 

Our **vision** is of vibrant and strong communities where everybody can live independent, safe and happy lives. 

Our **values** shape our culture, guide our decision making and underpin how we work with the people and communities we serve. 

Responsible **:** We act responsibly and hold ourselves to the highest standards in everything we do 

Dedicated **:** We are relentlessly dedicated to our mission, care deeply for our work and our beneficiaries, and do not give up 

Ambitious **:** We are demanding of ourselves and others; we set ambitious goals which push us and our beneficiaries to achieve more 

Listening **:** We build meaningful relationships with the communities we serve and others by listening, 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

understanding, and working together 

Empowering **:** We are committed to empowering people to make sustainable change happen 

Inclusive: We recognise and value diversity as it makes us stronger and more connected, and we strive to preserve a culture of inclusion and equity in everything we do 

## Charitable Objects: 

- To educate and assist young people through informal education and skills training activities so as to develop their physical, mental and social capacities that they may grow up to full maturity as individuals and in furtherance of these objectives to provide skills training programmes and other youth education. 

- For the benefit of the public to develop the capacity and skills of members of the socially and economically disadvantaged communities of Norwich and the surrounding area and to advance the education of the members of the community of all ages. To provide opportunities for members of the community to participate fully in the life of their community in ways which address and alleviate social and economic disadvantage. 

- To promote for the benefit of Norwich and the surrounding area the provision of community radio as a recreational facility for individuals who have need of such a facility by reason of youth, age, infirmity or disablement, financial hardship or social and economic circumstances, or for the public at large in the interest of social welfare and with the object of advancing education and the condition of life of said inhabitants. 

## **Public Benefit** 

In setting objectives and planning activities, the Trustees have given due consideration to the charity Commission�s guidance on public benefit, including public benefit: running a charity (PB2). 

The Trustees are satisfied that the charity�s aims, objectives and activities are carried out for the public benefit in furtherance of its charitable purposes . 

## **How We Deliver Our Objectives** 

Future Projects delivers its objectives by working within communities and alongside the people it exists to serve. Our approach is rooted in listening well, understanding both need and local strengths, and designing responses that are practical, accessible and shaped by the realities of people�s lives. 

We aim to provide support where it is most needed, particularly where people may struggle to access or engage with other services. This means combining timely help in moments of crisis with longer-term support that builds confidence, skills, resilience and opportunity. 

Partnership is central to the charity�s approach. We work collaboratively with organisations across sectors to share expertise, strengthen local support systems and extend the reach and impact of our work. 

The charity delivers its work through three interconnected strands: education, support and community radio. Together, these enable Future Projects to respond to a wide range of needs while maintaining a community based, person centred and joined-up approach. 

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# **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

## **Main Activities** 

The charity delivers its work through three main strands: Future Education, Future Support and Future Radio. 

Future Education is an independent special school for pupils aged 13 to 16 with social, emotional and mental health needs. Many pupils have experienced significant barriers to education, and a number also have additional needs, including ADHD, ASD, dyslexia, and speech, language and communication needs. 

The school combines academic and vocational learning with therapeutic, trauma-informed support, helping pupils to re-engage with education, rebuild confidence and develop the skills and qualifications they need for the future. 

Future Support is a collection of specialist support services providing hands-on advice, support and advocacy to those most in need. These services are embedded in communities and are designed to reach people who may struggle to access other provision or who face multiple and complex needs. 

Support is delivered across a range of areas, including health and wellbeing, housing and homelessness, financial resilience, welfare rights and benefits, skills and employment, social isolation, safeguarding and violence reduction, and food and emergency provision. Through this work, the charity aims both to respond to immediate hardship and to help people build greater stability, confidence and independence. 

Future Radio is Norwich�s Community Radio Station, broadcasting on FM, DAB and online. Alongside its broadcast output, the station provides training, volunteering and participation opportunities that help people build skills, confidence and connections. 

The station is volunteer led and supports people to create and present programmes, represent their communities and raise awareness of local issues, services and opportunities. It also provides a platform for local voices, artists and community activity, helping to strengthen connection and participation across the East. 

## **Volunteers** 

Volunteers make a vital contribution to many of the charity�s services, and volunteering is itself an important part of what Future Projects offers. This year, we supported over 180 volunteers, providing opportunities to build skills, confidence and experience, contribute to their communities, and move closer to employment, training and other positive opportunities. 

We are committed to recruiting, training and supporting volunteers well, ensuring that their time with the charity is safe, meaningful and rewarding. Their contribution remains central to the delivery of our work across the organisation. 

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**THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

## **2. Achievements, Impact and Performance** 

## **Overview of the Year** 

It remained a difficult year for the communities we serve, for public services, and for the wider VCSE sector. Demand across our services remained high, particularly where people needed help with food, household essentials, utility costs and other immediate pressures. At the same time, many of the children, adults and families we worked with were presenting with increasingly complex needs, and more people were falling through gaps in other provision and requiring crisis support. Changes in national government following the General Election, together with continued pressure across the NHS, social care and the wider VCSE and commissioning environment, created uncertainty and contributed to slower decision making across parts of the system. During the year, the charity also had to respond to wider financial pressures arising from changes to employer National Insurance from April 2025 and the introduction of VAT on private school fees from January 2025, both of which affected the operating environment for our work. 

In response, Future Projects continued to adapt its work in practical ways. We strengthened community based support around food and essentials, health and wellbeing, and helping people connect with wider services and opportunities. Alongside this, we continued to develop more preventative support through money management and financial resilience work, employment support, and other community based activity that helps people build confidence, stability and independence. We also responded through careful financial planning and disciplined resource management to help manage increased cost pressures and protect frontline delivery. 

As demand and complexity increased, we also continued to strengthen the way we work. This included further embedding trauma-informed practice, building the skills of teams to deliver safe and effective support, and making our four-day working week permanent to support staff wellbeing, attract and retain talented people, and help deliver the best possible outcomes for the communities we serve. We also maintained our AdviceUK membership, Living Wage accreditation and Disability Confident status. 

Partnership working grew in importance throughout the year. We worked more closely than ever with other organisations to align our activity, complement existing provision, and make better use of shared skills and resources. This included convening partners around themes such as employment support, strengthening our work with other VCSE organisations, and continuing to represent the sector in local and wider system forums. We were also active in contributing VCSE insight and practical experience to the development of local arrangements and strategies, including work linked to Get Britain Working, helping to shape how future support may be designed and commissioned. Alongside this, we adapted our funding strategy in response to a changing external environment and continued to prioritise community based provision developed with partners and communities. 

## **Main Achievements of the Charity** : 

## **Future Education** 

This year has been one of strong progress and external validation at Future Education, where we supported around 60 students aged 13�16 with complex social, emotional and mental health needs across the year. Many of these young people had previously experienced long periods out of education, highly reduced timetables, trauma and significant barriers to learning. Against that backdrop, the school continued to provide a safe, therapeutic and ambitious environment in which pupils could re-engage with education, rebuild trust and make meaningful progress. 

A major achievement in the year was the school�s first Independent Schools Inspectorate inspection, which found that all relevant standards were met. The report identified leadership of the school as highly effective and described leaders� work to re-engage pupils in education and create an exceptionally positive learning 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

environment as a significant strength of the school. The report also recognised the quality of the curriculum, the school�s broad range of academic and vocational pathways, and the strong therapeutic and relational support that enables pupils to learn, flourish and prepare successfully for post-16 education, training and employment. Norfolk County Council�s own quality assurance work also continued to highlight the strength of relationships, the personal approach to each pupil, the strong core curriculum and the breadth added by the vocational offer. 

Performance against the school�s key indicators was particularly strong. Attendance exceeded target at 80.74%, despite the complexity of the cohort and the fact that many pupils had been out of school or on highly reduced timetables before joining Future Education. Suspensions remained below the school�s target of 1% of days lost, finishing the year at 0.85%. Academic progress was also a major strength, with 100% of pupils making expected or better progress across english, maths and science, exceeding the school�s own target. Reading ages improved by an average of 1 year and 7 months across the year, again above target. These outcomes reflect the school�s success in helping pupils re-engage with learning and sustain progress over time. 

Alongside academic progress, the school made important gains in safety, wellbeing and belonging. During the year, Future Education introduced and embedded its safe scaling approach, enabling the school to better understand and evidence how safe pupils feel physically, emotionally and intellectually. All three measures improved over the course of the year, providing a clearer picture of non-academic progress and helping staff identify where additional support or intervention was needed. Student voice was also very positive by year end: 100% of pupils said they felt part of Future Education and safe at school, 96% said teachers take them seriously and listen, and 92% said they knew which member of staff they could talk to if worried. Parent and carer confidence was exceptionally strong, with 100% positive responses across all key areas, including whether the school is right for their child, whether emotional needs are being met, whether staff are approachable, and whether the school keeps their child safe. 

The year also saw an increase in the complexity of safeguarding need across the cohort. In response, the school continued to strengthen its practice through intensive pastoral and safeguarding support, close work with families and agencies, and a growing focus on staff expertise in trauma, SEND and behaviour. Staff development during the year included wholeschool safeguarding, trauma-informed training, sensory processing, rejection sensitive dysphoria, speech, language and communication, and wider work to deepen understanding of how trauma and neurodiversity affect regulation, relationships and learning. This strengthened knowledge, alongside approaches such as SAFE, PACE and targeted intervention planning, has helped the school respond more effectively to complex behaviour and vulnerability, while maintaining a culture of safety, compassion and high expectations. 

We also worked during the year to strengthen our relationships with larger educational institutions, including the University of East Anglia and Norwich University of the Arts. These partnerships will help us deepen our understanding of the neuroscience underpinning many of our students� needs, connect with researchers and education specialists, and continue to develop and refine our practice. They also create wider opportunities around progression, learning, collaboration and access to further education pathways. This is an important area of development for the school and one which we expect to build on further in the year ahead. 

The school also continued to strengthen its curriculum, interventions and preparation for adulthood. Academic learning was supported by a broad vocational and practical offer, alongside therapeutic and tailored provision designed around individual need. Staff continued to refine systems for identifying need, tracking progress and putting the right support in place at the right time. Exam outcomes were encouraging, with all but one student meeting or exceeding predicted grades, and all Year 11 pupils supported through appropriate access arrangements. Most importantly, all 11 leavers secured post-16 destinations, reflecting the school�s success in helping young people move on to positive and appropriate next steps in education and training � avoiding NEET status. 

Over the course of the year, Future Education demonstrated the strength of a model built around safety, relationships, therapeutic support and high expectations. The school combined strong academic and personal 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

outcomes with high levels of confidence from pupils, families, governors and external partners. In a year marked by a successful inspection, sustained progress against key priorities and continued strengthening of practice, Future Education continued to show the value of specialist SEMH provision that is ambitious, compassionate and carefully tailored to the needs of every learner. 

## **Future Support** 

Future Support continued to provide practical, community-based help for people facing hardship, exclusion and complex need across Norfolk. Through a combination of advice, advocacy, targeted interventions and trusted local relationships, the service supported people through immediate crisis while also helping them build stability, wellbeing and greater independence over time. 

At the heart of this work remained the Baseline Centre in West Norwich, which continued to act as a trusted local hub and �no wrong door� point of support for people with a wide range of needs. Despite reduced drop-in capacity during part of the year, Baseline supported 178 active clients, completed more than 1,000 interventions and achieved 552 recorded outcomes, helping people with welfare rights, debt, housing, health and wellbeing. Alongside this core support, the Centre also responded directly to hardship in the community. Local residents made around 500 withdrawals from the community fridge during the year, and 87 emergency food vouchers were issued to households in need. The Centre also provided an average of 55 community meals each week, equating to around 2,860 meals over the year, and around 20 packed lunches per day for local children during school holiday periods. During the year, Baseline also launched a new on-site charity shop, creating unrestricted income while providing low-cost goods in a trusted and accessible local setting. 

Financial resilience work was another major strength during the year. Through Money Matters, 127 clients received tailored support with debt, budgeting, benefits and wider financial pressures. The service completed 911 interventions and achieved 680 recorded outcomes, including large numbers of people who were better able to manage their finances, access welfare entitlements and improve their overall financial situation. The project also recorded a clear measured improvement in wellbeing across the client group, underlining the close link between financial security, confidence and mental health. This work helped people not only address immediate pressures, but build stronger foundations for the future, and we are keen to develop long-term sustainability around this model. 

Future Support also played an important role in helping people move towards employment, skills and opportunity. Through the Brighter Futures employment project, 223 clients were supported during the year, with more than 2,450 interventions and 1,140 recorded outcomes. This included 149 job applications, 44 job interviews, 62 training opportunities and 44 volunteering placements, alongside 43 direct employment outcomes. The project combined employability support with wider help around confidence, health, welfare rights and other barriers to work, recognising that people often need more than just a CV to move forward. Alongside this, the Apollo project, delivered in partnership with East Coast College, supported 24 clients and delivered 95 action steps and 161 outcomes, helping people take practical steps towards volunteering, progression and meaningful employment. 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

Community wellbeing, connection and independent living also remained central to the year�s achievements. Through CAN Connect, 119 people were supported through social isolation and loneliness work, with volunteers contributing 274 hours of support through befriending, encouragement and practical community connection. This helped people rebuild confidence, re-engage with local activity and reduce isolation in the Breckland and North Norfolk areas. Pathways, though smaller in scale than in previous years and reducing in scope during the year, also remained an important strand of support. Across the year, the service supported 49 tenancy sustainment cases and 31 resettlement cases, helping people manage housing, money, health and day-to-day living as they moved towards safer and more stable accommodation. From March to August alone, tenancy sustainment work generated 456 separate interventions, demonstrating the intensity of support often required to help people remain safely housed and more stable in their daily lives. 

A particularly important area of work this year was the Serious Violence Duty/Transitions service, supporting young adults at risk of serious violence during a critical point of transition into adulthood. In the reporting period, the service supported 13 active clients, completed 343 action steps and achieved 114 recorded outcomes through intensive, personalised support around housing, wellbeing, risk, justice and access to wider services. Most importantly, the service was independently evaluated by the University of Suffolk, which found that it was strongly aligned with trauma-informed and transitional safeguarding principles and highlighted the value of trusted relationships, service navigation and practical support in helping young people access protection, stability and hope for the future. This provided powerful external assurance of the impact of the model for a highly vulnerable group. 

Across all of this work, Future Support continued to demonstrate the value of locally rooted, relational and flexible services. Whether responding to immediate hardship, helping people stabilise their finances, supporting access to work, reducing isolation, sustaining tenancies or providing highly targeted help to those at risk, the service combined compassion with practical action. In doing so, it remained both a vital safety net and an important route towards longer-term resilience and independence for people and communities across Norfolk. 

## **Future Radio** 

Future Radio continued to broadcast on FM, online and across DAB in Norwich, King�s Lynn and Cambridge, providing a genuinely local platform for community voices, culture, information and opportunity. The station remained volunteer led and deeply rooted in the life of Norwich and the wider area, with a strong focus on local content, participation and community benefit. 

Volunteers remained at the heart of the station. During the year, 106 volunteers were involved in Future Radio�s work, up from 92 the previous year, contributing a total of 13,033 hours to the running of the station, an increase of just over 9%. This represented an estimated value of £186,006 in volunteer contribution. We also provided training, placements and ongoing support to help volunteers build confidence, skills and experience, with the station�s work continuing to be overseen by its Volunteer Forum. 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

Volunteer feedback was especially strong this year and shows the value of Future Radio as a place where people build skills, confidence and connection. 100% of volunteers surveyed said Future Radio is a good place to volunteer and would recommend it to others, both up from 86% the previous year. 95% said the station is welcoming and inclusive, up from 83%, while 95% also said volunteering improved their social connection, awareness of local services and opportunities, and ability to represent their community, each up from 86%. Volunteers also reported strong personal outcomes: 90% said volunteering improved their skills, up from 86%; 84% said it improved their confidence, up from 78%; 90% said it improved their health and wellbeing, up from 78%; and 79% said it improved their digital skills, up from 61%. 

Programming remained strong throughout the year. Future Radio broadcast 2,174 original shows, 3,237 pieces of local programming and 8,169 Ofcom local hours. Average original show hours reached 72.2 per week, exceeding the station�s target of 63 hours. The station also broadcast 1,088 public service announcements and welcomed 585 guests onto its programmes, helping local organisations, services and residents share information, ideas and opportunities. 

The station continued to use its platform to reflect local life and respond to issues that matter in our communities. This included ongoing programming linked to Money Matters and 12th Man, as well as projects and partnerships including Stage Door with Norwich Theatre, Older and Bolder with Age UK Norwich, the 100 Years of Mile Cross radio documentary with The Common Lot, Community Spotlight with Norwich City Council, and coverage of Norwich Pride, Living Wage Week, the Lord Mayor�s Procession, the Christmas lights switch on, and World Homelessness Day in partnership with Shelter. Future Radio also supported Norfolk and Norwich Festival by helping bring arts and cultural activity to wider audiences across the county. 

Future Radio continued to support local businesses and community life, broadcasting 26,543 paid promotions, 18,198 adverts and 8,345 sponsored plays during the year, while promoting 5,304 local events, an increase of more than 36% on the previous year. It also remained active in the community through projects such as FutureFest 2025 with The Brickmakers and a week of live broadcasting from Norwich Market. 

Supporter led fundraising and community activity also grew during the year, with supporters backing Future Radio through gigs, music nights, pub quizzes, sponsored walks, challenge events and a 24-hour broadcastathon, supported by a new community fundraiser funded through Ofcom. 

From its base in the heart of Norwich, Future Radio continued to provide a trusted local platform through which people can be heard, build skills, share ideas and connect with their communities. In a fast-changing media landscape, it remains an important space for local voice, participation and opportunity. 

## **3. Fundraising** 

Fundraising at Future Projects is led by the charity�s internal team. We do not employ professional fundraisers, undertake street or telephone fundraising, or use commercial participators. Some supporters and volunteers also raise funds for the charity through organised events and challenge activities. These are authorised, overseen and supported by the internal fundraising team using the charity�s approved fundraising platforms and 

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# **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

## processes. 

The charity is registered with the Fundraising Regulator and is committed to fundraising in a way that is legal, open, honest and respectful. We adhere to the Code of Fundraising Practice and the Fundraising Promise, and comply with relevant legislation including the Charities Act 2011, UK GDPR, the Data Protection Act 2018 and the Privacy and Electronic Communications Regulations 2003. 

Our fundraising approach is proportionate, ethical and rooted in our values as a community based charity. Supporter information is handled carefully, and we are committed to protecting the public, including vulnerable people, from unreasonable intrusion, undue pressure or persistent approaches. Trustees receive regular reports on fundraising activity and compliance as part of the charity�s governance arrangements. A complaints policy is in place, and the charity received no complaints or reported instances of non-compliance during the year. 

## **4. Financial Review** 

## **Financial Position at 31 August 2025** 

The charity ended the financial year in a stronger position than the previous year, with total funds of £1,070,674 (2024: £902,953). This included unrestricted funds of £853,329 (2024: £707,232), reflecting continued growth in the charity�s financial resilience and flexibility. 

Total income for the year was £2,778,499 (2024: £2.73 million), representing slight overall growth to around £2.8 million. Expenditure totalled £2,610,778 (2024: £2.51 million), resulting in a positive net movement in funds of £167,721 (2024: £217,338). This represented a good financial surplus for the year and enabled a contribution to free reserves above the charity�s target. 

The charity�s cash position at year end remained healthy at £1,301,171 (2024: £736,989), with short-term liabilities well covered. Debtors and creditors remained at appropriate levels in the context of the charity�s size, funding arrangements and operational activity. 

The Trustees are confident that the organisation remains financially robust and well placed to respond to future opportunities and risks. Strong financial management, disciplined cost control and continued focus on sustainability have contributed to the charity�s positive financial position at year end. 

## **Principal Funding Sources** 

The charity�s principal source of income in 2024/25 remained Norfolk County Council, primarily through unrestricted contract income relating to pupil placements at Future Education. Income from this source totalled £1,991,833 and continued to represent the charity�s main income stream during the year. 

The charity also received additional school related grant income of £55,472, including restricted Pupil Premium funding of £24,620, to support elements of its education provision. 

The second largest single funding stream was grant income of £215,242 awarded through the UK Shared Prosperity Fund Brighter Futures programme, distributed via Norwich City Council. 

In addition to these principal sources, the charity received income from a range of other grants, contracts and trading activities, reflecting the breadth of its work across education, community support and radio. 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

## **Going Concern** 

The Trustees have reviewed the charity�s financial position and performance and are satisfied that Future Projects remains in a strong and stable position, with adequate resources to meet its obligations and continue to deliver its services. 

Accordingly, the Trustees have a reasonable expectation that the charity will continue in operational existence for the foreseeable future and have therefore adopted the going concern basis in preparing these financial statements. 

## **Reserves Policy** 

The Trustees have reviewed the charity�s reserves in light of its financial risks, long-term commitments and the need to respond to changes in income and demand. Free reserves, defined as unrestricted funds excluding tangible fixed assets, are held to support operational stability, meet financial and contractual obligations, and enable the charity to manage change in a planned and orderly way while protecting services as far as possible. 

As at 31 August 2025, the charity held total funds of £1,070,674 (2024: £902,953), including unrestricted funds of £853,329 (2024: £707,232). After excluding tangible fixed assets of £398,339 (2024: £422,527), free reserves stood at £454,990 (2024: £284,705). 

The Trustees have set a free reserves target equivalent to approximately three months� operating expenditure, which they consider appropriate given the scale of the charity�s activities and funding base. 

## **Material Investments Policy** 

The charity does not hold material investments and does not therefore maintain a standalone investment policy. Where surplus cash is available, Trustees may approve its placement in short-term, low-risk money market accounts in order to generate interest income while maintaining appropriate liquidity and security of funds. 

These placements are kept under regular review to ensure they remain consistent with the charity�s approach to capital preservation, cashflow requirements and overall risk appetite 

## **Principal Risks and Uncertainties** 

The Trustees are responsible for identifying and managing the risks that could affect the charity�s ability to achieve its objectives. Risk management is embedded within strategic and operational planning, and the risk register is reviewed regularly by Trustees and senior leaders. 

The most significant risk facing the charity continues to relate to changes in commissioning policy for independent special schools, particularly through Norfolk County Council�s Local First Inclusion Plan. As Future Education represents a substantial proportion of the charity�s income, any significant reduction in referrals or placements could have a material effect on the charity�s financial position and longer-term sustainability. This risk is being actively managed through regular engagement with commissioners, close monitoring of referral and placement patterns, ongoing quality assurance and performance reporting, and continued work to demonstrate the school�s quality, value and strategic importance. In year, Future Education received a strong ISI inspection outcome, with all relevant standards met and leadership and management identified as a significant strength, providing further assurance as to the school�s quality and leadership. 

The charity also operates in an environment shaped by changing policy, commissioning decisions and wider public sector funding pressures. Trustees and senior leaders therefore maintain close oversight of financial resilience and service sustainability through regular reporting, budgeting, forecasting and review. Safeguarding 

Page 12 



# **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

and regulatory compliance remain key operational risks and are managed through established policies, training, quality assurance and regular oversight. Governance and leadership capacity are also kept under review through Board development, clear delegation and reporting arrangements, and ongoing strategic planning. 

The Trustees are satisfied that systems and procedures are in place to identify, monitor and manage these and other significant risks facing the charity. 

## **5. Structure, Governance and Management** 

## **Constitution and Governing Document** 

The NR5 Project, trading as Future Projects, is a charitable company limited by guarantee, registered in England and Wales with the Charity Commission under number 1103200 and with Companies House under number 04358690. 

The charity is governed by its Memorandum and Articles of Association, which set out its charitable objects and the rules for its operation, including the appointment of Trustees, the conduct of meetings and the management of the charity�s assets. 

## **Trustee Recruitment, Induction, and Training** 

The charity is governed by its Board of Trustees, who are appointed and co-opted in accordance with the Articles of Association and are responsible for the charity�s overall management and strategic direction. 

The Board reviews its composition and effectiveness annually to ensure it has the appropriate balance of skills, experience and diversity to meet the charity�s needs. In doing so, Trustees consider governance reviews, skills audits, Charity Commission guidance, strategic priorities and the needs of beneficiaries. 

Trustees are recruited on the basis of the skills, knowledge and experience required to support the charity�s work and future development. All new Trustees receive an induction covering their duties under charity and company law, the governing document, decision making processes, strategic plans, and the charity�s operational and financial position. Trustees are also supported through ongoing briefings and training, as required, to help them discharge their responsibilities effectively. 

## **Organisational Structure and Decision Making** 

The charity is governed by a Board of Trustees, which meets at least four times each year and is responsible for the charity�s overall governance, strategic direction and oversight. 

The Chief Executive Officer is responsible to the Trustees for the day-to-day management and development of the charity and is supported by a Senior Leadership Team. Decision making responsibilities and delegated authority are set out in the charity�s Scheme of Delegation, as approved by the Trustees. 

The Trustees are also supported by a School Board of Governors, which operates under agreed terms of reference and includes Trustee representation, to provide oversight of the charity�s education provision. 

During the year, the Trustees reviewed the committee structure and agreed that financial oversight would be strengthened by enabling fuller reporting and discussion at Board level. As a result, the Finance Committee was dissolved and detailed financial matters are now considered directly by the full Board of Trustees, ensuring that all Trustees are closely engaged in the charity�s financial affairs. 

Page 13 



# **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

## **Pay Policy for Key Management Personnel** 

Trustees have implemented a remuneration policy for employees which considers internal and external benchmarking and other factors such as pay differentials, market conditions, and responsibilities to set pay. 

Trustees review and determine staff pay annually, including senior staff. In making decisions on pay, Trustees consider financial performance, affordability, external factors, and potential risks to the charity and its operations. 

## **Related Parties, Conflicts of Interest, and Indemnity** 

The charity has no subsidiaries. Certain Trustees hold roles which may give rise to related party relationships or conflicts of interest, including directorships with Future Digital Norfolk, a Trustee who also serves as Leader of Norwich City Council, and a Trustee employed by Aviva. 

These interests are declared and recorded in the charity�s Register of Interests and are managed in accordance with the charity�s conflict of interest policy. Where a conflict arises, the interest is recorded and the Trustee concerned is not involved in the relevant discussion or decision making. Where relevant, conflicts are also managed within the external organisation concerned. 

During the year, Norwich City Council provided grant and contract funding to the charity. The Trustee concerned was not involved in the award or management of this funding. The charity also received funding from Aviva during the year, and the Trustee concerned was not involved in the award or management of that funding. Future Digital Norfolk provided DAB radio broadcast services to the charity during the year, with a deemed value of £8,700. No other related party transactions were disclosed in the financial statements for the year. 

The charity has trustee indemnity insurance in place to provide appropriate protection for Trustees acting in the course of their duties. The limit of cover is £100,000. In the event of the charity being wound up, the liability of each member is limited to £1. 

## **6. Plans for Future Periods** 

In the year ahead, Future Projects will begin a new strategic planning cycle, setting a long-term direction for the charity that is ambitious, sustainable and rooted in the needs and strengths of the communities we serve. This will include a clear focus on growing our role and profile within the VCSE sector, and on continuing to develop Future Projects as a trusted partner, provider and leader across Norfolk and the wider region. 

A key priority will be to strengthen our role in building and leading local partnerships, particularly in areas such as skills, employability and inclusive economic participation. We want to play an active part in shaping local responses, bringing organisations together, sharing what we learn from our work, and helping to develop joinedup approaches that better meet the needs of local people and communities. We will also seek to grow our employment and skills provision as a significant area of work, recognising both the scale of need and the opportunity to make a lasting difference through high quality, locally rooted support. 

In education, we will build on the strength of our provision and the positive outcome of our recent ISI inspection to engage with local authority partners and explore opportunities to extend our reach into new areas of the East through high quality, trauma-informed SEMH provision. Alongside this, we will continue to strengthen our tailored approach for children and young people with complex needs. 

Across our wider work, we will continue to focus both on immediate crisis support and on earlier, preventative intervention. This includes sustaining practical community based help such as food, essentials and accessible advice, while also developing support that helps people avoid crisis and remain well, connected and 

Page 14 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

independent, including work linked to frailty, social isolation, mental health, financial resilience and employment. As wider commissioning arrangements evolve, we will also pivot our social isolation services to build on what we have learned, respond to emerging priorities and ensure this work continues to add value in the places and systems where it is most needed. 

We will also continue to strengthen the charity�s financial resilience by diversifying and rebalancing our income profile, reducing dependency on any single source and spreading risk more effectively across the organisation. Alongside this, we will place greater emphasis on developing our profile and strengthening how we capture and report our impact, so that the breadth, quality and importance of our work is more clearly understood by partners, commissioners, funders and supporters. We will also begin to further develop the charity�s role as a leader amongst VCSE partners where this adds value, helping to strengthen collaboration, shared learning and collective impact. Through all of this, Future Projects will remain focused on delivering high quality, community based services while growing its partnerships, influence and long-term impact. 

## **7. Trustees Responsibilities** 

## **Statement of Trustees' responsibilities** 

The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles of the Charities SORP (FRS 102); 

- make judgments and accounting estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Disclosure of information to auditors** 

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that: 

- so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and 

- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information. 

Page 15 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025** 

Approved by order of the members of the board of Trustees and signed on their behalf by: 


**Mr M Stonard** (Chair of Trustees) Date: 28 May 2026 

Page 16 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NR5 PROJECT (TRADING AS FUTURE PROJECTS)** 

## **Opinion** 

We have audited the financial statements of The NR5 Project (trading as Future Projects) (the 'charity') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

Page 17 



**THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (CONTINUED)** 

## **Other information** 

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinion on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements. 

- the Trustees' Report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report. 

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or certain disclosures of Trustees' remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report. 

Page 18 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (CONTINUED)** 

## **Responsibilities of trustees** 

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. 

Page 19 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (CONTINUED)** 

## **Auditors' responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 

The objectives of our audit in respect of fraud are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both the management and those charged with governance of the charitable company. 

Due to the field in which the charitable company operates, we identified the areas most likely to have a direct material impact on the financial statements as: compliance with UK accounting standards, the Companies Act 2006 and the Charities Act 2011. In addition, we considered the provisions of other laws and regulations which, whilst not having a direct impact on the financial statements, are fundamental to the charitable company's ability to operate including Employment Law, safeguarding requirements and compliance with various other regulations relevant to the operation of the charitable company. 

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations, included the following: 

- Enquiries with management about any knowledge or suspected instances of non-compliance with laws and regulations and fraud; 

- Reviewing board minutes; 

- Reviewing legal and professional fees for indicators of litigation; 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; 

- Assessing the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance; 

- Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to provision for bad debts; and 

- Auditing the risk of management override of controls, including through testing of journal entries and other adjustments for appropriateness. 

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

Page 20 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (CONTINUED)** 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. 

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Joanne Fox BA FCA (Senior Statutory Auditor)** 

for and on behalf of 

## **BW Audit Ltd** 

Chartered Accountants Statutory Auditors Berry & Warren 54 Thorpe Road Norwich NR1 1RY 

Date: 28 May 2026 

Page 21 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025** 

|**Note**<br>**Income from:**<br>Donations and legacies<br>4<br>Charitable activities<br>5<br>Other trading activities<br>8<br>Investments<br>9<br>**Total income**<br>**Expenditure on:**<br>Charitable activities<br>10<br>**Total expenditure**<br>**Net income**<br>Transfers between funds<br>18<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>Net movement in funds<br>**Total funds carried forward**|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>**21,652**<br>**2,247,505**<br>**11,725**<br>**26,277**<br>**2,307,159**<br>**2,153,079**<br>**2,153,079**<br>**154,080**<br>**(7,983)**<br>**146,097**<br>**707,232**<br>**146,097**<br>**853,329**|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>**-**<br>**471,340**<br>**-**<br>**-**<br>**471,340**<br>**457,699**<br>**457,699**<br>**13,641**<br>**7,983**<br>**21,624**<br>**195,721**<br>**21,624**<br>**217,345**|**Total**<br>**funds**<br>**2025**<br>**£**<br>**21,652**<br>**2,718,845**<br>**11,725**<br>**26,277**<br>**2,778,499**<br>**2,610,778**<br>**2,610,778**<br>**167,721**<br>**-**<br>**167,721**<br>**902,953**<br>**167,721**<br>**1,070,674**|_Total_<br>_funds_<br>_2024_<br>_£_<br>_10,935_<br>_2,691,726_<br>_14,065_<br>_14,629_<br>_2,731,355_|
|---|---|---|---|---|
|||||_2,514,017_<br>_2,514,017_|
|||||_217,338_<br>_-_<br>_217,338_|
|||||_685,615_<br>_217,338_<br>_902,953_|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

The notes on pages 25 to 46 form part of these financial statements. 

Page 22 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee) REGISTERED NUMBER: 04358690** 

## **BALANCE SHEET AS AT 31 AUGUST 2025** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>15<br>**Current assets**<br>Debtors<br>16<br>Cash at bank and in hand<br>**Current liabilities**<br>Creditors: amounts falling due within one<br>year<br>17<br>**Net current assets**<br>**Total assets less current liabilities**<br>**Total net assets**<br>**Charity funds**<br>Restricted funds<br>18<br>Unrestricted funds<br>18<br>**Total funds**|**368,633**<br>**1,301,171**<br>**1,669,804**<br>**(997,469)**|**2025**<br>**£**<br>**398,339**<br>**398,339**<br>**672,335**<br>**1,070,674**<br>**1,070,674**<br>**217,345**<br>**853,329**<br>**1,070,674**|_635,773_<br>_736,989_<br>_1,372,762_<br>_(892,336)_|_2024_<br>_£_<br>_422,527_|
|---|---|---|---|---|
|||||_422,527_<br>_480,426_|
|||||_902,953_|
|||||_902,953_|
|||||_195,721_<br>_707,232_|
|||||_902,953_|



The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. 

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. 

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 

## **Mr M Stonard** 

(Chair of Trustees) Date: 28 May 2026 


The notes on pages 25 to 46 form part of these financial statements. 

Page 23 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS)** 

## **(A Company Limited by Guarantee)** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025** 

|**Cash flows from operating activities**<br>Net cash generated from operating activities<br>**Cash flows from investing activities**<br>Dividends, interests and rents from investments<br>Proceeds from the sale of tangible fixed assets<br>Purchase of tangible fixed assets<br>**Net cash used in investing activities**<br>**Change in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**|**2025**<br>**£**<br>**583,790**<br>**26,277**<br>**-**<br>**(45,885)**<br>**(19,608)**<br>**564,182**<br>**736,989**<br>**1,301,171**|_2024_<br>_£_<br>_70,111_<br>_14,629_<br>_131_<br>_(25,833)_<br>**(11,073)**<br>**59,038**<br>_677,951_<br>_736,989_|
|---|---|---|



The notes on pages 25 to 46 form part of these financial statements 

Page 24 



# **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **1. General information** 

The NR5 Project is a private company limited by guarantee and incorporated in England & Wales, registration number 04358690. The registered office is 168b Motum Road, Norwich, Norfolk NR5 8EG. 

The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. 

## **2. Accounting policies** 

## **2.1 Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

The NR5 Project (trading as Future Projects) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **2.2 Going concern** 

The Trustees have considered the charity�s position at the time of signing the financial statements, and in particular inflation rises and their impact on the demand for the charity�s services, on its funders and on the wider economy. Having considered the charity�s financial strength, together with the range of measures the charity could take to mitigate ongoing costs should it need to, they are confident that the charity is well positioned to continue to deliver its vital services in the short and medium term. 

Based on this, the Trustees have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements, and we therefore continue to adopt the going concern basis of accounting in preparing these financial statements. 

## **2.3 Income** 

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably. 

Page 25 



**THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **2. Accounting policies (continued)** 

## **2.4 Expenditure** 

Expenditure is recognised on an accruals basis once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Core costs are apportioned to activities in proportion to income. 

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. 

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. 

All expenditure is inclusive of irrecoverable VAT. 

## **2.5 Interest receivable** 

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 

## **2.6 Tangible fixed assets and depreciation** 

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. 

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following bases: 

- Long-term leasehold property straight line basis over the lease term Motor vehicles - 20% reducing balance - Fixtures and fittings 20% straight line - Office equipment 20% straight line 

## **2.7 Debtors** 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

Page 26 



# **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **2. Accounting policies (continued)** 

## **2.8 Cash at bank and in hand** 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

## **2.9 Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 

## **2.10 Financial instruments** 

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **2.11 Pensions** 

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year. 

## **2.12 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

Investment income, gains and losses are allocated to the appropriate fund. 

Page 27 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **3. Critical accounting estimates and areas of judgment** 

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

Critical accounting estimates and assumptions: 

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. 

Critical areas of judgment: 

## **Useful economic lives of tangible assets** 

The depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of that asset. See 2.6 for the useful economic lives of property, plant and equipment for each class of asset and note 15 for the carrying amount. 

Page 28 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **4. Income from donations and legacies** 

|Donations<br>Donations|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>21,652<br>_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_10,935_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**21,652**<br>_Total_<br>_funds_<br>_2024_<br>_£_<br>_10,935_|
|---|---|---|



## **5. Income from charitable activities** 

|Future Radio<br>Future Education<br>Future Support<br>Future Radio<br>Future Education<br>Future Support|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>32,747<br>2,001,448<br>213,310<br>2,247,505<br>_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_62,252_<br>_2,051,451_<br>_385,771_<br>_2,499,474_|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>35,933<br>47,825<br>387,582<br>471,340<br>_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_23,645_<br>_48,414_<br>_120,193_<br>_192,252_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**68,680**<br>**2,049,273**<br>**600,892**<br>**2,718,845**|
|---|---|---|---|
||||_Total_<br>_funds_<br>_2024_<br>_£_<br>_85,897_<br>_2,099,865_<br>_505,964_<br>_2,691,726_|



Page 29 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **6. Income from charitable activities analysis** 

|Grants and service level agreements<br>School fees<br>Other income<br>Grants and service level agreements<br>School fees<br>Other income|**Future**<br>**Radio**<br>**2025**<br>**£**<br>36,690<br>-<br>31,990<br>68,680<br>_Future Radio_<br>_2024_<br>_£_<br>_41,793_<br>_-_<br>_44,104_<br>_85,897_|**Future**<br>**Education**<br>**2025**<br>**£**<br>55,472<br>1,991,833<br>1,968<br>2,049,273<br>_Future_<br>_Education_<br>_2024_<br>_£_<br>_49,993_<br>_2,044,331_<br>_5,541_<br>_2,099,865_|**Future**<br>**Support**<br>**2025**<br>**£**<br>582,596<br>-<br>18,296<br>600,892<br>_Future_<br>_Support_<br>_2024_<br>_£_<br>_491,203_<br>_-_<br>_14,761_<br>_505,964_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**674,758**<br>**1,991,833**<br>**52,254**<br>**2,718,845**|
|---|---|---|---|---|
|||||_Total_<br>_funds_<br>_2024_<br>_£_<br>_582,989_<br>_2,044,331_<br>_64,406_<br>_2,691,726_|



Page 30 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **7. Grants and service level agreements** 

|Ofcom Community Radio Fund<br>NCC Community Building Fund<br>NCC - Small Culture<br>Pupil Premium<br>NCF Smoke Fee Generation<br>Pathways Resettlement<br>Community Actions Norfolk - Social Isolation<br>Pathways Tenancy<br>Aviva Money Matters<br>Other Future Support Income<br>Norfolk Household Support<br>Norfolk Community Foundation - Warm Hub<br>Norfolk Community Foundation - Empowering<br>Communications for Mental Health<br>OPCCN Serious Violence<br>Apollo<br>Norfolk Consolidated Charities<br>Community Based Hardship Fund<br>Connecting Old People<br>Other School Income<br>Simon Gibson Community Meals<br>Clarion Cost of Living<br>Teachers Pension Grant<br>Other Radio Grants<br>UKSPF Brighter Futures|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>-<br>-<br>-<br>-<br>-<br>40,989<br>41,352<br>90,857<br>-<br>4,651<br>-<br>-<br>-<br>-<br>-<br>17,166<br>-<br>-<br>7,647<br>-<br>-<br>-<br>756<br>-<br>203,418|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>14,313<br>2,157<br>1,000<br>24,620<br>1,441<br>-<br>-<br>-<br>99,452<br>-<br>4,400<br>2,000<br>10,483<br>35,753<br>9,496<br>-<br>10,048<br>6,539<br>-<br>1,250<br>9,941<br>23,205<br>-<br>215,242<br>471,340|**Total**<br>**funds**<br>**2025**<br>**£**<br>**14,313**<br>**2,157**<br>**1,000**<br>**24,620**<br>**1,441**<br>**40,989**<br>**41,352**<br>**90,857**<br>**99,452**<br>**4,651**<br>**4,400**<br>**2,000**<br>**10,483**<br>**35,753**<br>**9,496**<br>**17,166**<br>**10,048**<br>**6,539**<br>**7,647**<br>**1,250**<br>**9,941**<br>**23,205**<br>**756**<br>**215,242**<br>**674,758**|
|---|---|---|---|



Page 31 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

|Ofcom Community Radio Fund<br>Co-op Community Cares<br>NCC - Small Culture<br>Pupil Premium<br>Wonder+<br>Pathways Resettlement<br>Community Action Norfolk - Social Isolation<br>Pathways Tenancy<br>ESF Chances<br>Hamper<br>Norfolk Household Support<br>Norfolk Community Foundation - Warm Hub<br>Norfolk Community Foundation - Empowering<br>Communications for Mental Health<br>OPCCN Serious Violence<br>Apollo<br>Norfolk Consolidated Charities<br>Community Based Hardship Fund<br>DFE Covid Recovery Premium<br>Other School Grants<br>SSE<br>Other Future Support grants<br>UKSPF Brighter Future<br>**8.**<br>**Income from other trading activities**<br>**Income from fundraising events**|_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_5,000_<br>_-_<br>_2,000_<br>_-_<br>_25,641_<br>_69,448_<br>_123,964_<br>_100,439_<br>_-_<br>_10,316_<br>_-_<br>_2,000_<br>_-_<br>_-_<br>_-_<br>_5,722_<br>_-_<br>_-_<br>_1,579_<br>_17,888_<br>_26,740_<br>_-_<br>_390,737_|_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_11,957_<br>_4,948_<br>_-_<br>_27,714_<br>_-_<br>_-_<br>_-_<br>_-_<br>_31,216_<br>_-_<br>_7,100_<br>_-_<br>_6,740_<br>_11,667_<br>_5,499_<br>_-_<br>_20,095_<br>_20,700_<br>_-_<br>_-_<br>_-_<br>_44,616_<br>_192,252_|_Total_<br>_funds_<br>_2024_<br>_£_<br>_16,957_<br>_4,948_<br>_2,000_<br>_27,714_<br>_25,641_<br>_69,448_<br>_123,964_<br>_100,439_<br>_31,216_<br>_10,316_<br>_7,100_<br>_2,000_<br>_6,740_<br>_11,667_<br>_5,499_<br>_5,722_<br>_20,095_<br>_20,700_<br>_1,579_<br>_17,888_<br>_26,740_<br>_44,616_<br>_582,989_|
|---|---|---|---|
|||||



||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2025**|
||**£**|**£**|
|Fundraising events|11,725|**11,725**|



Page 32 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **8. Income from other trading activities (continued)** 

**Income from fundraising events (continued)** 

|Fundraising events<br>**9.**<br>**Investment income**<br>Investment income<br>Investment income|_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_14,065_<br>**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>26,277<br>_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_14,629_|_Total_<br>_funds_<br>_2024_<br>_£_<br>_14,065_<br>**Total**<br>**funds**<br>**2025**<br>**£**<br>**26,277**|
|---|---|---|
|||_Total_<br>_funds_<br>_2024_<br>_£_<br>_14,629_|



## **10. Analysis of expenditure on charitable activities Summary by fund type** 

|Radio<br>School<br>Future Support|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>107,706<br>1,787,627<br>257,746<br>2,153,079|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>29,395<br>47,825<br>380,479<br>457,699|**Total**<br>**2025**<br>**£**<br>**137,101**<br>**1,835,452**<br>**638,225**<br>**2,610,778**|
|---|---|---|---|



Page 33 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **10. Analysis of expenditure on charitable activities (continued)** 

## **Summary by fund type (continued)** 

|Radio<br>School<br>Future Support|_Unrestricted_<br>_funds_<br>_2024_<br>_£_<br>_131,340_<br>_1,842,542_<br>_373,024_<br>_2,346,906_|_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_-_<br>_27,715_<br>_139,396_<br>_167,111_|_Total_<br>_2024_<br>_£_<br>_131,340_<br>_1,870,257_<br>_512,420_<br>_2,514,017_|
|---|---|---|---|



## **11. Analysis of expenditure by activities** 

|Radio<br>School<br>Future Support<br>Radio<br>School<br>Future Support|**Support**<br>**costs**<br>**2025**<br>**£**<br>137,101<br>1,835,452<br>638,225<br>2,610,778<br>_Support_<br>_costs_<br>_2024_<br>_£_<br>_131,340_<br>_1,870,257_<br>_512,420_<br>_2,514,017_|**Total**<br>**funds**<br>**2025**<br>**£**<br>**137,101**<br>**1,835,452**<br>**638,225**<br>**2,610,778**|
|---|---|---|
|||_Total_<br>_funds_<br>_2024_<br>_£_<br>_131,340_<br>_1,870,257_<br>_512,420_<br>_2,514,017_|



Page 34 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **11. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs** 

|**Future Radio**<br>**2025**<br>**£**<br>Staff costs<br>89,887<br>Depreciation<br>3,913<br>Premises<br>12,658<br>Fees<br>15,285<br>Office costs<br>2,983<br>Marketing<br>708<br>Travel costs<br>727<br>General<br>999<br>Equipment and maintenance<br>-<br>Finance costs<br>-<br>Allocation of core costs<br>9,941<br>137,101|**Future**<br>**Education**<br>**2025**<br>**£**<br>1,228,167<br>63,137<br>105,766<br>19,264<br>27,359<br>-<br>25,559<br>68,851<br>704<br>36<br>296,609<br>1,835,452|**Future**<br>**Support**<br>**2025**<br>**£**<br>471,665<br>120<br>14,313<br>6,767<br>5,896<br>1,538<br>6,902<br>43,776<br>274<br>2<br>86,972<br>638,225|**Core Costs**<br>**2025**<br>**£**<br>305,048<br>2,903<br>30,546<br>25,514<br>18,182<br>433<br>447<br>10,050<br>249<br>150<br>(393,522)<br>-|**Total**<br>**funds**<br>**2025**<br>**£**<br>**2,094,767**<br>**70,073**<br>**163,283**<br>**66,830**<br>**54,420**<br>**2,679**<br>**33,635**<br>**123,676**<br>**1,227**<br>**188**<br>**-**<br>**2,610,778**|
|---|---|---|---|---|



Page 35 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **11. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs (continued)** 

|Staff costs<br>Depreciation<br>Premises<br>Fees<br>Office costs<br>Marketing<br>Travel costs<br>General<br>Equipment and maintenance<br>Finance costs<br>Allocation of core costs|_Future Radio_<br>_2024_<br>_£_<br>_72,682_<br>_3,578_<br>_18,906_<br>_17,787_<br>_3,701_<br>_1,844_<br>_959_<br>_(857)_<br>_(597)_<br>_-_<br>_13,337_<br>_131,340_|_Future_<br>_Education_<br>_2024_<br>_£_<br>_1,199,390_<br>_55,230_<br>_122,226_<br>_20,068_<br>_27,650_<br>_-_<br>_26,220_<br>_95,088_<br>_502_<br>_38_<br>_323,845_<br>_1,870,257_|_Future_<br>_Support_<br>_2024_<br>_£_<br>_361,024_<br>_223_<br>_17,358_<br>_2,415_<br>_8,782_<br>_560_<br>_6,050_<br>_38,547_<br>_870_<br>_6_<br>_76,585_<br>_512,420_|_Core Costs_<br>_2024_<br>_£_<br>_311,128_<br>_5,050_<br>_29,605_<br>_35,105_<br>_16,032_<br>_2,105_<br>_780_<br>_13,646_<br>_169_<br>_147_<br>_(413,767)_<br>_-_|_Total_<br>_funds_<br>_2024_<br>_£_<br>_1,944,224_<br>_64,081_<br>_188,095_<br>_75,375_<br>_56,165_<br>_4,509_<br>_34,009_<br>_146,424_<br>_944_<br>_191_<br>_-_<br>_2,514,017_|
|---|---|---|---|---|---|



## **12. Auditors' remuneration** 

||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Fees payable to the charity's auditor for the audit of the charity's annual|||
|accounts|**13,000**|_12,600_|



Page 36 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **13. Staff costs** 

|Wages and salaries<br>Social security costs<br>Contribution to defined contribution pension schemes<br>Contract, agency and other staff costs|**2025**<br>**£**<br>**1,661,708**<br>**171,256**<br>**103,848**<br>**157,955**<br>**2,094,767**|_2024_<br>_£_<br>_1,607,153_<br>_146,672_<br>_116,863_<br>_73,536_|
|---|---|---|
|||_1,944,224_|



Included within wages and salaries above are redundancy and termination payments of £10,423 (2024: £5,650) in respect of 4 individuals (2024: 3) 

The average number of persons employed by the charity during the year was as follows: 

||**2025**|_2024_|
|---|---|---|
||**No.**|_No._|
|Staff|**62**|_61_|



The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was: 

|||**2025**|_2024_|
|---|---|---|---|
|||**No.**|_No._|
|In the band £60,001|- £70,000|**1**|_2_|



The total employee benefits to key management personnel of the charity were £289,484 (2024: £312,607) in respect of 5 people (2024: 5 people). 

## **14. Trustees' remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits (2024: £nil). 

During the year ended 31 August 2025, no Trustee expenses have been incurred (2024: £nil). 

Page 37 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **15. Tangible fixed assets** 

|**Long-term**<br>**leasehold**<br>**property**<br>**£**<br>**Cost or valuation**<br>At 1 September 2024<br>**889,262**<br>Additions<br>**31,280**<br>At 31 August 2025<br>**920,542**<br>**Depreciation**<br>At 1 September 2024<br>**501,587**<br>Charge for the year<br>**53,386**<br>At 31 August 2025<br>**554,973**<br>**Net book value**<br>At 31 August 2025<br>**365,569**<br>_At 31 August 2024_<br>_387,675_<br>**Debtors**<br>**Due within one year**<br>Trade debtors<br>Prepayments and accrued income<br>Tax recoverable|**Motor**<br>**vehicles**<br>**£**<br>**8,900**<br>**-**<br>**8,900**<br>**4,676**<br>**904**<br>**5,580**<br>**3,320**<br>_4,224_|**Fixtures and**<br>**fittings**<br>**£**<br>**185,965**<br>**14,605**<br>**200,570**<br>**156,414**<br>**15,324**<br>**171,738**<br>**28,832**<br>_29,551_||**Office**<br>**equipment**<br>**£**<br>**24,164**<br>**-**<br>**24,164**<br>**23,087**<br>**459**<br>**23,546**<br>**618**<br>_1,077_<br>**2025**<br>**£**<br>**322,423**<br>**46,210**<br>**-**<br>**368,633**|**Total**<br>**£**<br>**1,108,291**<br>**45,885**<br>**1,154,176**|
|---|---|---|---|---|---|
||||||**685,764**<br>**70,073**<br>**755,837**|
||||||**398,339**|
||||||_422,527_|
||||||_2024_<br>_£_<br>_594,808_<br>_40,326_<br>_639_<br>_635,773_|



## **16. Debtors** 

Page 38 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **17. Creditors: Amounts falling due within one year** 

|Trade creditors<br>Other taxation and social security<br>Other creditors<br>Accruals and deferred income<br>Deferred income at 1 September 2024<br>Resources deferred during the year<br>Amounts released from previous periods|**2025**<br>**£**<br>**67,272**<br>**148,697**<br>**16,675**<br>**764,825**<br>**997,469**<br>**2025**<br>**£**<br>**762,864**<br>**702,236**<br>**(762,864)**<br>**702,236**|_2024_<br>_£_<br>_27,885_<br>_48,710_<br>_20,019_<br>_795,722_<br>_892,336_<br>_2024_<br>_£_<br>_562,973_<br>_762,864_<br>_(562,973)_<br>_762,864_|
|---|---|---|



Deferred income relates to school fees received in advance, and to service contracts invoiced which relate to the 2025/26 period. 

Page 39 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **18. Statement of funds** 

**Statement of funds - current year** 

|**Balance at 1**<br>**September**<br>**2024**<br>**£**<br>**Unrestricted funds**<br>General Funds<br>**707,232**<br>**Restricted funds**<br>Big Lottery and ESF Building<br>Better Opportunities Grant<br>**54,787**<br>Stuff Hubs<br>**6,500**<br>Youth Action Social Fund<br>**4,750**<br>Big Lottery Fund and ESF<br>Chances<br>**70,945**<br>Norfolk Community Foundation<br>Connecting Old People<br>**-**<br>NatWest Skills & Opportunity<br>Fund<br>**11,789**<br>Pupil Premium<br>**-**<br>Teachers Pension<br>**-**<br>Winter Shelter<br>**12,718**<br>UKSPF Brighter Futures<br>**16,758**<br>Community Meals<br>**(217)**<br>Aviva Money Matters Reloaded<br>**-**<br>Small Future Radio Grants<br>**1,700**<br>Community Radio Fund Post<br>**1,145**<br>Norfolk Community Foundation<br>Smoke Free Generation<br>**-**<br>OPCCN<br>**1,364**<br>Apollo Volunteer Coordinator<br>**492**<br>Small Future Support Grants<br>**6,777**<br>NCF - Men's Mental Health<br>**6,213**<br>**195,721**<br>**Total of funds**<br>**902,953**|**Income**<br>**£**<br>**2,307,159**<br>**-**<br>**-**<br>**-**<br>**-**<br>**6,539**<br>**-**<br>**24,620**<br>**23,205**<br>**-**<br>**215,242**<br>**25,639**<br>**99,452**<br>**3,157**<br>**14,313**<br>**1,441**<br>**35,753**<br>**9,496**<br>**2,000**<br>**10,483**<br>**471,340**<br>**2,778,499**|**Expenditure**<br>**£**<br>**(2,153,079)**<br>**(300)**<br>**(240)**<br>**-**<br>**(1,050)**<br>**(6,539)**<br>**-**<br>**(24,620)**<br>**(23,205)**<br>**(30)**<br>**(216,761)**<br>**(30,634)**<br>**(84,716)**<br>**(2,095)**<br>**(17,084)**<br>**-**<br>**(36,203)**<br>**(9,720)**<br>**(825)**<br>**(3,677)**<br>**(457,699)**<br>**(2,610,778)**|**Transfers**<br>**in/out**<br>**£**<br>**(7,983)**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**5,212**<br>**-**<br>**-**<br>**2,771**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**7,983**<br>**-**|**Balance at**<br>**31 August**<br>**2025**<br>**£**<br>**853,329**|
|---|---|---|---|---|
|||||**54,487**<br>**6,260**<br>**4,750**<br>**69,895**<br>**-**<br>**11,789**<br>**-**<br>**-**<br>**12,688**<br>**15,239**<br>**-**<br>**14,736**<br>**2,762**<br>**1,145**<br>**1,441**<br>**914**<br>**268**<br>**7,952**<br>**13,019**<br>**217,345**|
|||||**1,070,674**|



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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **18. Statement of funds (continued)** 

## **Statement of funds - prior year** 

|**Unrestricted funds**<br>General Funds<br>**Restricted funds**<br>Big Lottery and ESF Building Better<br>Opportunities Grant<br>Stuff Hubs<br>Youth Action Social Fund<br>Big Lottery Fund and ESF Chances<br>NatWest Skills & Opportunity Fund<br>Pupil Premium<br>Better Together Radio Show<br>Winter Shelter<br>Inclusive Economy<br>Norfolk Household Support<br>Your Big Idea<br>Community Radio Fund Post<br>UKSPF Brighter Futures<br>Co-op Community Cares<br>OPCCN<br>Apollo Volunteer Coordinator<br>Community Based Hardship Fund<br>NCF - Men's Mental Health<br>Small Future Support Grants<br>Covid-19 Premium<br>**Total of funds**|_Balance at_<br>_1 September_<br>_2023_<br>_£_<br>_515,035_<br>_55,769_<br>_6,740_<br>_4,750_<br>_70,197_<br>_11,789_<br>_-_<br>_1,700_<br>_12,718_<br>_3,095_<br>_(273)_<br>_2,576_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_-_<br>_1,519_<br>_-_<br>_170,580_<br>_685,615_|_Income_<br>_£_<br>_2,539,103_<br>_-_<br>_-_<br>_-_<br>_31,216_<br>_-_<br>_27,714_<br>_-_<br>_-_<br>_-_<br>_7,100_<br>_-_<br>_11,957_<br>_44,616_<br>_4,948_<br>_11,667_<br>_5,499_<br>_20,095_<br>_6,740_<br>_-_<br>_20,700_<br>_192,252_<br>_2,731,355_|_Expenditure_<br>_£_<br>_(2,346,906)_<br>_(982)_<br>_(240)_<br>_-_<br>_(30,468)_<br>_-_<br>_(27,714)_<br>_-_<br>_-_<br>_(154)_<br>_(7,044)_<br>_(259)_<br>_(10,812)_<br>_(27,858)_<br>_(4,948)_<br>_(10,303)_<br>_(5,007)_<br>_(20,095)_<br>_(527)_<br>_-_<br>_(20,700)_<br>_(167,111)_<br>_(2,514,017)_|_Balance at_<br>_31 August_<br>_2024_<br>_£_<br>_707,232_<br>_54,787_<br>_6,500_<br>_4,750_<br>_70,945_<br>_11,789_<br>_-_<br>_1,700_<br>_12,718_<br>_2,941_<br>_(217)_<br>_2,317_<br>_1,145_<br>_16,758_<br>_-_<br>_1,364_<br>_492_<br>_-_<br>_6,213_<br>_1,519_<br>_-_<br>_195,721_<br>_902,953_|
|---|---|---|---|---|



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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **18. Statement of funds (continued)** 

## **Big Lottery and ESF Building Better Opportunities** 

Big Lottery Fund/European Social Fund co-financed Building Better Opportunities Programme for long term unemployed adults in Norfolk. 

## **Stuff Hubs** 

Norfolk City Council funded project to provide a tool hub to local residents for hire. 

## **NatWest Skills and Opportunities Fund** 

Natwest funded service to improve the financial skills of in support and prevention of services users with financial and debt issues. 

## **Pupil Premium** 

Additional funding advised by Norfolk County Council Children�s Services for pupils on free school meals. 

## **Winter Shelter** 

Funding received to provide a winter shelter hostel provision in Norwich to support homeless individuals. 

## **Inclusive Economy Project** 

Grant funding to provide support to clients who are far removed from the job market, to support and signpost then to move them closer to job success. 

## **Norfolk Household Support** 

Funding provided to support those most in need for energy costs, provided through £50 vouchers paid straight to energy suppliers. 

## **Your Big Idea** 

Grant funding to develop training packages for onward delivery and sale to wider charity and commercial clients. 

## **OFCOM Community Radio Fund** 

Fund provided to employ a member of Radio staff as a fundraising and events co-ordinator for Future Radio. 

## **UKSPF Brighter Futures** 

UK Shared Prosperity funding to support individuals who are long term unemployed and help them build confidence and enable them to return to training and employment. 

## **Co-op Community Cares** 

Grant used by radio to develop a regular radio feature for local groups and activities. 

## **Office of the Police and Crime Commissioner Serious Violence Duty Project** 

Grant to support the employment of a support worker with a client base of 17 to 25-year olds to connect up and support these clients in transition from children�s services to adulthood. 

## **Apollo Volunteer Coordinator** 

Funding for a part time Volunteer co-ordinator to work to increase volunteering in our local community. 

## **Community Based Hardship Fund** 

NCF fund to be used to make direct payments on behalf of clients for either food or energy supply.  The charity used the fund for both food and energy directly for clients. 

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## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **18. Statement of funds (continued)** 

## **NCF - Men's Mental Health (Empowering Communities for Mental Health and Wellbeing)** 

NCF Grant used to run a men�s mental health group and deliver a series of radio shows supporting and helping men�s mental health. 

## **Covid-19 Premium** 

DFE Grant Paid via Norfolk County Council to support pupil learning recovery following pandemic. 

## **Youth Action Social Fund** 

Love Norfolk Radio Funding to encourage young people in volunteering, develop their skills and benefit communities. 

## **Big Lottery Fund and ESF Chances** 

Delivering Healthy Living and Work support to unemployed and inactive clients across Norfolk. 

## **Norfolk Community Foundation - Connecting Old People** 

NCF Fund to recruit and train older people from across Norwich to enable them to volunteer at Future Radio. 

## **Community Meals** 

Funding from Clarion, Norfolk Community Foundation and Simon Gibson to support the provision of community meals at our Baseline Centre. 

## **Aviva Money Matters Reloaded** 

Aviva Foundation funded project to support clients with money management and funding match for rent arrears. 

## **Small Future Support Grants** 

Funding received from Norfolk County Council, Norwich City Council, Norfolk Community Foundation to support our Baseline support service, charity shop and support infrastructure. 

## **Small Future Radio Grants** 

Funding from Norwich City Council, Norfolk Community Foundation and Norfolk County Council to support the infrastructure and operations of Future Radio. 

## **19. Analysis of net assets between funds** 

## **Analysis of net assets between funds - current year** 

|Tangible fixed assets<br>Current assets<br>Creditors due within one year<br>**Total**|**Unrestricted**<br>**funds**<br>**2025**<br>**£**<br>398,092<br>1,391,575<br>(936,338)<br>853,329|**Restricted**<br>**funds**<br>**2025**<br>**£**<br>247<br>278,229<br>(61,131)<br>217,345|**Total**<br>**funds**<br>**2025**<br>**£**<br>**398,339**<br>**1,669,804**<br>**(997,469)**<br>**1,070,674**|
|---|---|---|---|



Page 43 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **19. Analysis of net assets between funds (continued)** 

## **Analysis of net assets between funds - prior year** 

|_Unrestricted_<br>_funds_<br>_2024_<br>_Restricted_<br>_funds_<br>_2024_<br>_£_<br>_£_<br>Tangible fixed assets<br>_421,675_<br>_852_<br>Current assets<br>_1,089,813_<br>_282,949_<br>Creditors due within one year<br>_(804,256)_<br>_(88,080)_<br>**Total**<br>_707,232_<br>_195,721_<br>**20.**<br>**Reconciliation of net movement in funds to net cash flow from operating activities**<br>**2025**<br>**£**<br>Net income for the year (as per Statement of Financial Activities)<br>**167,721**<br>**Adjustments for:**<br>Depreciation charges<br>**70,073**<br>Dividends, interests and rents from investments<br>**(26,277)**<br>Loss/(profit) on the sale of fixed assets<br>**-**<br>Decrease/(increase) in debtors<br>**267,140**<br>Increase in creditors<br>**105,133**<br>**Net cash provided by operating activities**<br>**583,790**<br>**21.**<br>**Analysis of cash and cash equivalents**<br>**2025**<br>**£**<br>Cash in hand<br>**1,301,171**<br>**Total cash and cash equivalents**<br>**1,301,171**|_Total_<br>_funds_<br>_2024_<br>_£_<br>_422,527_<br>_1,372,762_<br>_(892,336)_<br>_902,953_<br>_2024_<br>_£_<br>_217,338_<br>_64,081_<br>_(14,629)_<br>_(131)_<br>_(375,316)_<br>_178,768_<br>_70,111_<br>_2024_<br>_£_<br>_736,989_<br>_736,989_|
|---|---|



Page 44 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **22. Analysis of changes in net debt** 

|Cash at bank and in hand|**At 1**<br>**September**<br>**2024**<br>**£**<br>**736,989**<br>**736,989**|**Cash flows**<br>**£**<br>**564,182**<br>**564,182**|**At 31**<br>**August**<br>**2025**<br>**£**<br>**1,301,171**<br>**1,301,171**|
|---|---|---|---|



Page 45 



## **THE NR5 PROJECT (TRADING AS FUTURE PROJECTS) (A Company Limited by Guarantee)** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** 

## **23. Pension commitments** 

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £103,848 (2024: £116,863). Contributions totaling £13,783 (2024: £15,675) were payable to the fund at the balance sheet date and are included in other creditors. 

## **24. Operating lease commitments** 

At 31 August 2025 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows: 

|Not later than 1 year<br>Later than 1 year and not later than 5 years<br>Later than 5 years|**2025**<br>**£**<br>**25,748**<br>**39,049**<br>**10,767**<br>**75,564**|_2024_<br>_£_<br>_26,501_<br>_64,530_<br>_19,926_|
|---|---|---|
|||_110,957_|



The following lease payments have been recognised as an expense in the Statement of Financial Activities: 

||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Operating lease rentals|**44,126**|_32,755_|



## **25. Related party transactions** 

During the year the charity received services free of charge from a related party. The value included in the financial statements for this amounts to £8,700 (2024: £7,200). 

The charity has not entered into any other related party transactions during the year. 

## **26. Post balance sheet events** 

Post year end the charity secured funding of £2,859,400 from Norfolk County Council in respect of a project aimed at providing employment support which will run to 31st March 2030. 

Page 46