11 THE FORGIVENESS PROJEcr Charity No. 1103922 Company No. 05042288 Trustees, Annual Report and Financial Statements for the year ended 31 March 2025
The Forglveness Project Financlal Statements for the year ended 31 March 2025 CONTENTS Pages Report of the Trustees 1-11 Company Inforiiiatlon 12 Independent Examlner's Report 13 Statement of Flnanclal Activitles 14 Balance Sheet 15 Notes to the Financial Statements 16-22
The Forglvene$s Pro5ect Trustees Annual Report for tha year endad 31Bt March 2025 The Trustees who are also directors of the charity for the purposes of the Companies Act 2(X)6 present their report with the financial statements of the charity for the year ended 31" March 2025 PRINCIPAL AcrivrriES The charity's objectives are to promote, for the public benefit, the provision of services in the fields of conflict resolution, reconciliation and mediation. In shaping our charitable purposes for the year, The Forgiveness Project has consldered the Charity Commlsslon's guidance on public benefit when plannlng our artivities. We are an organisation intent on promoting restorative approaches as widely as possible and therefore have given careful consideration to extending our reach by creating more online events and adopting a 'pay what you can, model of remuneration. The Forgiveness Project provides opportunities and resources for people to explore the complexities of forgiveness. Rooted in the belief that stories have the power to transform, we collect and share personal narratives that illuminate restorative responses to harm and conflict. Our mission is to restore and humanise both ourselves and our communities. Through storytelling and creative methodologies, we collaborate with individuals who have experienced pain and trauma. Our work is a process of exploration and Inquiry, creating spaces where meaningful conversations can emerge and grow. The Forglveness Proje$ overarchln8 aim Is: To promote and cultivate a curiosity around non-violent and restorative responses to hate and division as well as explore the myriad of different ways that forgiveness can benefit the world. Last year saw our 20 anniversary, and we recognised the need to be as bold as when we began because the world is in even greaterturmoil, wFth society dangerously polarised and divided. For this reason, The Forgiveness Project's influence is especially important. We know the power of storytelling and have seen how stories that focus on compassion and connection help people stay curious to d ifferent perspectives. This year we have successfully achieved our goal of reaching new audiences here tn the UK and across continents. This has been achieved in part by developing a new dynamic, creative strategy to build new relationships and harness collaborations through the power of the arts. This has been incredibly rewarding for the entire team, and our community of storytellers, peers and academics, and is evidenced by feedback received from those in our network. henever I receive a communicationfrorn The Forgiveness Project, it touches a chord, I'm so happy to be able to help the work of TFP.-. member of our Supporters, Programme "I did not expect such on outpouring of love ond kindness, ond it s been a relief to let the story live somewhere else than in my body. I'm grateful to have had the opportunity to work with you ond I'm hopeful that the story will have its own journey.". Julie Lambert, Storyteller "The Forgiveness Project- it'5 become a roaring river infvllflow. Look at the amount you are doing. 8efore itfelt very sepGrGted but now all these new series of events, ideos and programmes is gatherlng momentum in the world, affecting a lot of lives in a continuum. It's got its own current and it's wonderful to be part of this."_ Angela Findlay, Storyrteller
The Forglveness Project Trustees Annual Report for the yéar ended 31" March 2025 Collaboratlng wlth and supporting our storytellers: Our community of over 170 storytellers remain essential to our work enabling us to create a platform for restorative solutlons and to help othèrs process and make sense of conflict, pain and trauma. We are prioritising our storytellers by raislng their visibility in our newsletters, blogs, online events, and public facing engagements, as well as Inviting them to be co-creators of our new models of practice. Our aim Is to offer our storytellers the agency to fully utilise their skilFs and experlence In those areas of our work with, ivhich they are engaged Typically, they are worklng in isolation and have repeatedly told us how much it helps theiTi have theirvoice heard when working in partnership with The Forgiveness Project. We are thus moving forward in implementing a collective model of collaboration through initiatives such as our new grassroots model The Forgiveness Café, which not only brings our storytellers more centrally into our work, but also allows us to plafform their stories, lived experiences and wisdom. We are facilitating opportunities for our storytellers to work together and alongside the rest of our team and peers, with the belief that this will allow them greater connection to our patrons and audience while allowing them to have their say in the creative direction of our work. 2024-2025 AcfiviTIES I. ENGAGING NEW AUDIENCES 'The F Word, Exhibition: In the past year in the UK, 'The F Word, has been shown at St Edmundsbury Cathedral and Frome Kindness Festival. In the US, it was hosted by the Fox Valley Unitarian Church in Wisconsin. In January of 2025, we make the strategic decision to pause the circulation of our'F Word, exhibition. We did so to evaluate the specific strategy needed for this resource; particularly in constdering how we wish to use this to complement our wider team strategy, and where exactly we would like to deliver it. Similarly, our USA version of the exhibition has been removed from public use. With both, we aim to establish next steps in the evolution of this tool that has served us since our organisation's inception, namely in how we might be able to digitise it and make st more readily accessible for our followers around the world. 51 Forglveness: An Exploratlon US book tour Jn April, Marina vislted lowa, Wisconsin and Minneapolis prorrioting her book Forgiveness." An Explorotion which had recently been published in America. The tour was organised by Louisa Hext, The F Word exhibition's North American curator. Marina presented and held discussions at 3 colleges, 3 bookstores, at a salon-style private event, plus a university church in Minneapolis where alongside Louisa she also gave the lay sermon on forgiveness. Marlna and Sandra on The Talk Show On Tuesday July 2nd, Eddy Canfor-Dumas and Peter Osborn from The Centre for'creative Conversatlon launched their online series The Talk Show which featured Marina and Sandra as their first guests. Here, Marina and Sandra discussed the power of personal communication in building
The Forglveness Project Trustoes Annual Report for the year ended 31" March 2025 connection, how people reconcile and rebuild their lives following, trauma, and the value of effective talking and listening in allowing individuals to overcome these divÉdes. Along the Seam podcast In November 2024, Marina was invited to speak on Rachael Cerotti's Beyond the Seam Podcast. Here, the two discussed the origin5 of The Forgiveness Project as an organisation, as well as the depth and complexity of forgiveness as a toplc. Post-show dlscusslons for As Long As We Are Breathing Il In February, Sandra"was invited to facilitate two post-show conversations following performances of As Long As We Are Breathing, a moving and immersive production that recounts the true story of Miriam Freedman's journey from surviving the Holocaust to finding healing. This discussion was curated in collaboration with the Arcola Theatre, who hosted the play. On the 12th, Sandra was joined by the play's writer, Diane Samuels, for a discussion on how the creative arts can help in the exploration of stories and healing from pain. Frome Kindness Festival 2025 On the 18th of March, Marina delivered the keynote lecture at Frome Kindness Festival 2025, which Is a unique celebration of the transformative power of kindness. Marina's lecture, entitled "Forgiveness and Kindness: An Exploration" discussed the relationship between and the profound potential of both forgiveness and kindness, and marked the beginning of this communal gathering which sought to hightight the impart they have on our relationships and mental and physical wellbeing. 2. DEVELOPING OUR PROGRAMMES Forgiveness? A Space for Inquiry On Tuesday, 24th September, to mark our 20th anniversary, we held our first online space for inquiry, discussing the tricky, enticing and intriguing nature of forgtveness. The event was also in support of Peace Through Forgiveness, the international organisation founded by one of our storytellers, Aztm Khamisa. We were extremely pleased with the turnout of 76 attendees for this event, as well as the responses the gathering provoked. From this event, we began thé process of shaping and planning a new series of themed conversations and reflection sessions which helped to form the basis of our Forgiveness Cafe Initiative. Building Bridges Across the Divide On the 16th of October 2024, to mark the 40th anniversary of the Brighton bomb, long time storytellers Patrick Magee and Jo Berry joined Marina in conversation at St James's Church in Piccadilly, London. This event wa5 a return to an in-person format reminiscent of our annual lectures, which we ran prior to the pandemlc, and the discussion focussed on the courage and complexity of Patrick and Jo's healing journey that had developed over 24 years. Despite the fact that Patrick killed
Tho Forglvenes3 Project Trustees Annual Report for the year ended 31rt March 2025 Jo's father, their story has become a profound example of reconclllation and the power of compassion. Their experience is unique in the world and has been the subject of peace studies and conflÉct transformation education globally. Forgiveness at the Dlnner Table Our final event of 2024 offered a space for discussion around forgiveness as it relates to the familial and interpersonal. Framed around the hollday season, where many of us face complex emotions and unresolved family tensions, the virtual "dinner table" experience explored the potential for restorative responses in the context of family dynamic5 and difficult conversations. This event was a further trial of the new interactive model we had adopted for our virtual events previously in the year. We hosted 35 attendees, many of whom shared positive feedback: -Ifound it very supports've at o time when I hove been struggling with afamily issue, especiolly the idea of how to let go of expectations and comparisons....it Is so painful to discover it that there is dis- ease between some members of myfamily and I longfor us all tofind ease and acceptance. So thank you. Good to know l ain not olonel - Event Attendee Forgiveness and Crlminal Justs"ce Our largest online event of this year at 122 attendees, Forgiveness ond Criminoljustice was an exploration of two topics that have been some of our core investigations over the past 20 years. Hosted by our Sandra Barefoot and featuring Jacob Dunne, eminent forensic psychiatrist, Dr. Gwen Adshead, and two of our storytellers, Anne-marie Cockburn and Dunia Shafik, the event sought to contemplate the question 'are we more than the worst thing we have ever doney. (! "Everyone there came with a deep response to the subject offorgiveness, often through lived experience." and "Such sensitive issues so brilliantly dealt with. Such cornpassion thank you"_Event Attendee The Forgiveness Café Alongside consulting 3nd collaborating with a variety of organisations to deliver a range of pub-lic ents and initiatives, we have also developed and initiated a new interactive grassroots model. The Forgiveness Cafe, which offers a space for communities to engage with meaningful conversations about forgiveness both online and in-person. We have already sought funding for thÈs from The Guerrand-Hermès Foundation for Peace and the Westway Trust, both of whom expressed great excitement and intrigue at news of this project, with the Westway Trust revealing that our vision was the most popular grantee of our funding round. We are also seeking further funding to begin the delivery of this Café to local groups in Grenfell and North Kèrisirigton with the revised title of Stories have the Power to Transform. RE5foRE: Work in prison:
Tha Forgiveness Project Trust883 Annual Report for the year ended 31•t March 2025 Early this year, we recebved conflrmatlon that we were able to return to our RESTORE prison programme and deliver two Instalments'in the NEXUS Unit of HMP Eastwood Park. Here, we were able to proceed with plans whlch involved with engaging a neiv community of women in this pri50n who were in the process of resettlement within the NEXUS Unit. 3. PARTNERSHIPS AN.D COLLABORATIONS Conversations wlth Shame Symposlum and 34ay workshop In Sydneyi Australia. In early April, Sandra was joined by our colleague Ruth Chitty in Sydney to lead, pr'esent and facslitate a one-day symposium and bespoke three-day immersNe workshop in collaboration with Matthew Clarke and Annabella Rossini-clarke. This programme was open to practitioners working with the dynamics of shame in prisons, Restorative Justice, Acadèmia, Education, Health and community,If chaplaincy and counselling, who wanted to learn from the methodologies we use in our RESTORE , programmes. Over 60 people attended the Symposium as well as a core group of 10 participants who attended the three-day immersive workshop. Many left posltive feedback which provided us with a template of success for future programmes: "Thank you so much for o very engaging, thoughtfvl experience. Itfeels like it has loid on important fvundats'on stone towards the next phase of my life." And: -The experience offaci'litation of this workshop was World CIGSS l Deeply considered, and well informed, flexible and personal." Punch at the Nottingham Playhouse and Young Wic Theatre, London On Friday 10th May 2024, we were thrilled to initiate and lea-d the first post-show talking circle following a showing of Punch at the Nottingham Playhouse. We had curated this discussion alongside Jacob Dunne and the Nottingham Playhouse, which was facilitated by Jacob and Sandra, and featured Marina alongside our colleague Ruth Chitty and cast member Julie Hesrnondhalgh. Here, we discussed forgiveness and all its implications in this real-life, beautifully staged, story of judgment, redemption and forgiveness. Over 2(X) people stayed to attend this discussion indicating to us all the impact of this play and p'éo'ple's need to engage in discussions about the themes this play brings up. This collaboration with Punch continues into 2025- forTuesday the Ilth of March, we curated and dellvered a second post-show discussed alongside the Young Vic, where Punch had transferred to. Once again, we witnessed most of the audience (400 people) stay to listen to this discussion. As a result of this impact, we were delighted, as part of our new consultancy strategy, to begin conversation with Kate Pakenham of KPPL productions to explore the curation and administration of series of nine post-show conversations entitled After'the Punch, to compliment showlngs of Punch, which is due to move to the West End in the autumn. Integrlty and Dlqnlty: The Ethlcs of Restorative Narratlves presentation In Kl8all, Rwanda In July, Sandra and Marina presented a lecture entitled Integrity ari'd Dignity.. The Ethics of Restorative Narrotives as part of the Listening and Leading.. The Art and Science of Peace, Resilience and Transformationoljustice conference organised by the Aegis Trist In Kigall, Rwanda. The conference hosted internationally known scholars, peace prattitioners, educators, policymakers, and
The Forglvenoss Project Trustees Annual Report for the yéar ended 31" March 2025 community bullders, all of whom are committed to reconcillatlon, peace and transformatlonal justice as a path to a resilient and just future. The conference also marked 30 years since the Genocide against the Tutsl and the country's emergence from devastation into one of the world's leading natlons in peace and reconciliation. 4: STRATEGIC DEVELOPMENTS The Forglveness Project Substack Newsletter We became aware there was a need to reignite a new communications strategy and create dynamic public facin8 events that were responsive to the time5 we find ourselves in. As a result, we re- designed our newsletter, blo85 and social media to increase our relevance, and influence. This change was made in December, creatin8 a significant increase in public engagement, subscribers, donatlons and supporters. We currently have 7,118 subscrlbers, and average around 6,000 views per publication. This is a significant imp.rovement to our views from last year, which"averaged around 3.5k per publication. Digital Developments One of the long-term goals of The Forgiveness Project is to develop the world's leading Forgiveness Hub, which is a space built around and inspired by restorative narratives, offering a central place for learning, reflection, and hope. Our charrty has produced and offers a wide range of resources across different media. text, photography, video, and audio, and we wanted to reorganise our website to th make these Materials more easily and readily accessible to everyone. For our 20 year, our atm is to revitalise our website with more photographs to reflect the vibrancy of our communities and the diverse attivities of our organisation. We also refreshed our brand's typography and colour scheme, reflected in the new logo and website design. In terms of digital fundraising, ive are working towards a method of giving supporters a full range of ways to contribute to our work. Our aim 15 to make it as simple and seamless as possible for people to support our organisation, offering a wider range of giving Options and placing them prominently across our website: In the coming year, we aim to introduce QR codes to make setting up monthly. donations quicker and easier; Previously, individuals had to èmail us to join our Supporter Programme and become regular donors, but we are now stepping towards a system through which they can choose thelr donation amount, preferred payment gateway, and platform directly through our website. Our aim for the coming year is to thus expand on our social media presencé through working collaboratively with Jacob Dunne. Here, we will plan and design new social media content. Our focus is to identify content types that both reflect current trends and stay true to our core themes of forgiveness and related concepts. In addition, we are seeklng to collaborate with like-minded indivsduals and organisations, sharing their posts and amplifying conversations around forgiveness, restorative justice, and our shared humanity. Workkng with our Trustees throughout thls process has been both encouraging and reassuring. Their wealth of knowledge and experience has been invaluable, and it has been comforting to know that they are approachable, reliable: and genuinely eager to share their expertise. They have been consistently supportive and responsive whenever we had a question or sought feedback, they were ready to offer thoughtful input and guidance.
The Forgiveness Projèct Trust083 Annual Report for the year ended 31•t March 2025. Changes In ourTeam With a transformative shift in our governance board, we have now formed a smaller configuration of new Trustees. Matthew Cahill remained Chalr as a transitional board member from April 2024- September 2025. In late 2024, we welcomed Helen Walker, Thea Platt and Mary Locke to our board as our trustees. 01 In house, and alongside the r'estructurlng undertaken last year, we have been worklng with the close support of our new Board of Trustees alongside Jacob Dunne in his new role on our team as Creative Strategist: In late 2024, James Graham received the Kevin Pakènham Prize for Punch, and he awarded his £5,000 in prize money to our organisation. These funds allowed us to offer Jacob a post-within our team. through which he lias been leading with his own knowledge and experience of advocacy with younger audiences and social media platforms as central sites of messaging and engagement: He has been workin8 closely with our Communications Manager to develop our social media strategy. The decision to bring Jacob into our team and harness his individual skills is one example of a wider, model of collaborative leadership our team have adopted. With Sandra Barefoot becoming more central in her leadership as Exècutive Director, she has strategically shifted our priorities to include new artistic collaborations and models of working that both expands our public profile and ascertains wide-ranging relationships with new, diverse communities. As an artist herself, Sandra is fully aware of how we can harness the power of the arts to share restorative narratives and bring in new audiences to our work and how, in doing so, we are able to further realise our aim to help people break cycles of harm and create a more compassionate world. yfl; Reflecting on our Strategy, Our projected strategy this year sat clearly in our core belief, namely that 'Stories have the power to transform: We find ourselves in a time when families and communities are increasingly polarised, and wé are grateful for our audience who express appreciation for the input of The Forgiveness ' Project: "l am so grateful that you are in this worldl Please know all you have done and continue to do makes a huge difft"rence." - Event Attendee our work blows my mind and I'm in Gwe of the steps you have token to assist people on the journey offorgiveness. It's so thought provoking and vitalfor hur7?onity to moveforward both on a macro and micro level."_ Event Attendee "I think your website is amazing.1 l am now coming to the end of my teaching career but wish I had found it sooner. Whot an amazing résource.- Website Visitor To bolstér our influence, we understood the need to continue ratsing our profile and generating more Income. Through utilistng the skills of our Communications Manager, as well as the experience of our Creative Strategist, we have altered the strategic direttion of our online presence, which includes collaborating with our peers in new forms of media, creating new and engaging social media content.
Th8 Forgiveness Project Trustees Annual Report for the year ended 31" March 2025 and prioritising our newsletter as a central hub of communtcation between our audiences. We have found that our followers have responded more openly to this messaging, engaging directly in the content and commenting or messaging their personal reflections. Individual donations from those interested In our work have also remained steady, whlch, when combined wlth our regular donors, offers a good pipeline of support, and we anticipate that the changes we made to our public messaging about the variety of ways to support our work will bring more in. Through the activities Ilsted we have realised our second primary objectlve: Namely, to increase our alignment and presence in the UK and globally as thought leaders, with expertise to offer tools, skills and methodologies in the field of forgiveness, Restorative Narratives, cojlection of stories, the.. facilitation of difficult conversations and group led processes. Through our numerous commissions and consultations with different individuals, organisations and industries, we have been able to harness the influence of our collaborators and deliver new, relevant and inclusive work to new, diverse communities. Strategic intentions: For the coming year, we are embracing new models of working that centre on creative collaboration, and this is leading to exciting and unexperted partnerships. In a challenging funding climate for small charities, our evolving strategy is focused on abundance and cooperation, rather than operating from a place of scarcity. This approach requires us to stay deeply committed to building meaningful relationships with our peers, storytellers and network, taking bold steps to pilot participatory events, and engaging new and younger audiences. We are also developing grassroots models that we hope will inspire and influence high-profile donors and supporters to join our mission. A key part of this strategy involves building strong foundations for long-tèrm collaboration with like- minded organisations, an example being the Common Ground Justice Projert. These partnerships reflert a shared desire for deeper, more meaningful connection, rooted in the need to truly listen to one another, both on a micro and macro level, in an increasingly divided world. We are also focused on clearly communicating our value: articulating our "ask," highlighting our skills, and promoting our expertise in consultancy. Storytelling remains central to our work. Our ongoing collaboration with colleagues in Rwanda,,. particularly through exploring the archiving of testimonies from reconciliation villages, underscores the power of story as a tool for healing and restoration in the aftermath of genocide. This work is shaping our priorities for the coming year, especially through the development of the Forgiveness Café model. We are exploring curating specific story collections that draw diverse audiences into our work, whether they relate to end-of-life care, surrfiving genocide, or events IFke Grenfell. These stories do not just inform, they connect, inspire, and invite people into a shared journey of understanding, compassion, and artlon. TRUSTEES
The Forglveness Project Trustees Annual Report for the year ended 31•t March 2025 The role of the Trustees is to help the staff team define the overall strategic direttion and policy of The Forgiveness Projett, and to ensure it fultils its vision whllst conformlng to appropriate stsndards of financial and legal probity, Trustees have and must accept responsibility for ensuring that it is solvent, well-run, and deliverlng the charltable outcornes for which it has been set up. Alongside this The Forgiveness Project has developed a form of governance that models a process of exploration and inquiry. Central to thls process are the core values of The Forgiveness Project: integrity; empathy; respect for each individual's contribution, story and perspertive. open reflection; and restoration. All operational decisions are taken by staff. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and relatéd party transactions are disclosed in the accounts. Trustees are required to disclose all relevant interests and register them with the Director and in accordance with the Trust's poliorf withdraw from decisions where a conflict of interest arises. New trustees are recruited on the occasion that an existing trustee retires or a gap in skills is identified. Potential new recruits proNiide a C4 and have an interview with a selection of the existing trustees and the Director. Once accepted on to the board of trustees an induction pack is provided. RISK ASSESSMENT TFP has always had regular discussions on potentsal risks to the charity, and they are a key feature of team meetings and board meetings. Our focus over this shift tn new leadership and strurturing has beén'to develop agile, lean, responsive and effectlve financial strategy to support our growth. As a result, we have begun to see a positive increase in new supporters, donations and successful funding applications. To summarise our philosophy: We are committed to ensuring that TFP has given thought to, and has a clear sense of, the risks inherent in operating as a small charity in this tsme as well as the very specific risks that are particular to TFPS current operations and future'development. Nurturing a collaborative culture in and outstde TFP is a key strategy we are developing to support wider and diverse funding streams to be made available to us. o We understand risk as a means of investment for growth and one that guides a robust financial strategy for TFP, seeking new opportunities and collaborations. Op:1 Key to risk being reported is to ensure that our collaborative leadership and culture is one where staff and volunteers feel a strong sense of equitability, transparency, honesty and stewardship for TFP- qualities which rnitigate any risk of oversight to areas that need to be considered as to their worth for financial stability and growth. 41 Our operating risks continue to revolve around being a small charity that works with trauma and pain. Huge care is required to ensure that people are well supported in their work and that the charity has sufficient capacity to carry out its plans. RESERVES POLICY The Trustees hai4ie set a reserves policy which recommends that:
The Forgiveness Project Trustees Annual Report forthe year ended 31° March 2025 o Reserves are ideally maintained at a level whlch ensures that The Forgiveness Project's key activities can continue for at least three months during a period of unforeseen difficulty. o Most of the reserves are maintalned in a readily realisable form, primarily bank deposit and savings accounts. o The business maintains resèrves at thFS level or makes proposals to vary the business plan so that the minimum reserve levels are met. o To ensure closure In an orderly fashlon, termination costs of £15,000 are separately held as Designated Funds. o At the end of the financial year, the reserves stood at £58,230 which is equivalent to 8.6 Months running costs, At the end of the last financial year (2023124) the reserves level stood at £13,100, which means we have increased the reserves revel more than fourfold in this financial year (2024/25). FINANCIAL REVIEW The charity has a surplus of £59,801 (2024 £54,162 deficit) for the year, this is made up of an unrestricted surplus of £61,269 (2024: £37,526 deficit) and a restricted deficit of £1,468 (2024: £16,636 deficit). In common with many small charities, we have found the funding environment to be challenging as funders are ever more focussed in their approach. The Trustees have considered the position and remain confident that TFP is a going concern. As we shifted into collaborative leadership, we have begun to see significant growth in our finances in this financial year. This is due . to high IncaseS in sales for our public engagement events, considerable increase in donatsons from new and existing individual supporters, and from successful core funding bids- notably the National Lottery Arts Award (£20,000) for our full time Administrator post. We have also received NHS funding for our RESTORE prison programme at HMP Eastwood Park NEXUS Unit (£11,280), and continued exploration of our Shame Informed training in prisons with the Leigh Trust {£5,000). We are immensely humbled by the generosity and ongoing support from all our supporters and donors, and PZIVI, 4J funders which is providing a lifeline to us to evolve and sustain TFP'S place in the world. STATEMENT OF TRusfEES' RESPONSIBILrriES The trustees (who are also directors of the Forgiveness Project for the purposes of company law) are responsible for preparing the directors/trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom ' Generally Accepted Accounting Practice)- iè Company law requires the trustees to prepare financial statements for each financial year which gÈve IYI a true and fairview of the stste of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financlal statements, the trustees are required to: Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent 10
The Forgiveness Project Trustees Annual Report for the year ended 31" March 2025 o State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements o Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity wlll continue In operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any tlme the financial pos6tion of the charltable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 11
The Forglveness Projert , Trustees Annual Report for the year ended 31 March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Company No. 05042288 Charlty No. 1103922 Registered Offlce 124 City Road London ECIV 2NX Dlrertors and Trustees.,. The Dlrectors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees setved during the year: A. Birney M. Cahill A. David A. Grover H. Walker M. Locke T. Platt (Resigned 16 September 2024) (Resigned 16 September 2024) (Appointed 16 September 2024) IAppoFnted 16 September 2024) (Appointed 16 September 2024) Independent Examiner. M R Cooper FC4 Welbeck 29 Welbeck Avenue Southampton S017 1ST Bankers Barclays Bank plc 67 Green Lane Harringay London N4 IE8 Triodos Bank Deanery Road Brlstol Avon BSI 5AS:. This report was approved by the Board on l December 2025 and signed on its behalf by: @ kS(YJ Helen Walker Trustee 12
The Forgiveness Projert In.dependent Examlner's Report Independent Examlner's Report to the Trustees of The Forgiveness Pfoject I report to the charity trustees on my examlnation of the flnanciaS statements of The Forgiveness Project forthe year ended 31 March 2025 Responslbilities and basls of report As the charity's trustees of the company (and also its dlrertors for the purposes of company law) you are responsible for the preparation of the financlal statements Tn accordance with the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myself that the financial statements of the Charty are not required to be audited under Part 16 of the 2006 Act and are ekigible for independent examination, I report In respect of my examination of your charity's financial statements as carried out under section 145 of the Charitles Act 2011 ('the 2011 Act,). In carrylng out my examlnation I have followed the Dirertions given by the Charity Commlssion under section 145{5) (b) of the 2011 Act. Independent examlner's statement I have completed rny examination. I can confirm that no material matters have come to my attention in connection with the examinatlon givEng me cause to believe: accounting records were not kept in accordance with sectlon 386 of the 2006 Act; or the financial statements do not accord with those records; or the financlal statements do not comply with the accounting requirements undersee(ion 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which Is not a matter considered as part of an independent examination; or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Prattlce for accounting and reporting by charities applicable to charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have corne across no other rnatters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Welbeck 29 WelbeckAvenue Southampton S017 Isr l December 25 13
The Forglveness Project Statement of Flnanclal Artlvltles Includlng summary Income and expendlture account for the year ended 31 March 2025 Unrestrlcted funds 2025 Restrlcted Total funds funds 2025 Total fvnds 2025 2024 Notes Income and endowments from: Donatlons and legacles Charitable activltles Investments 98,127 9,586 145 33,000 131,127 9,586 145 72,898 12,380 628 Total 107,858 33,000 140,858 85,906 Expenditure on: Raisln8 funds Charitable activities 1,348 45,241 4,049 30,419 5,397 75,660 9,454 130,613 Total 46,589 34,468 81,057 140,068 Net gains on Investments Net expenditu 61,269 (1,468) 59,801 {54,162) Transfers between funds Net movement in funds 61,269 (1,468) 59,801 (54,162) Reconciliatlon of funds: Total funds brought forward 13,100 12,389 25,489 79,651 Total fvnds carrled forward 74,369 85,290 25,489 The notes on pages 16 to 22 fomi part of these accounts. 14
The Forgiveness Project Balance Sheet at 31 March 2025 2025 2024 Notes Flxed assets Tanglble assets Current assets Debtors Cash at bank and In hand 11 1,139 1,519 12 4,543 93 031 97,574 10,678 27 497 38,175 Credltors: Amounts fallkng due within one year Net current assets 13 13 423 84,151 14 205 23,970 Totsl assets less current liabilities 85,290 25,489 Total net assets 85 290 25 489 The fvnds ofthe charity 15 Restrict.ed funds Restritted income funds 10,921 12,389 Unrestrlcted funds Designated Funds General funds 15,000 59,369,- 13,100 Total funds 85 290 25 489 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relatbng to small companies. For the year ended 31 March 2025 the compa ny was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The rnembers have not requlred the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibllities for complying with the requirements of the Companies Act 2006. with respect to accounting records and the preparation of accounts. The notes on pages 16 to 22 forrn part of these accounts. Approved by the board on l Dec 2025 And signed on its behalf by: . Anthony Grover Treasurer 15
The ForgFveness Projert Notes to the Accounts at 31 March 2025 Accountln8 pollcles l Basls of preparatlon The flnanclal statements have been prepared In accordance wlth Accountlng and Reportlng by Charltles: Ststement of Recommended Practlce appllcable to charltles preparlng theor accounts In accordance wlth the Financlal Reportln8 Standard appllcable In the UK and Republlc of Ireland (FRS 102) (effertive l January 2015) - (Charities SORP (FRS 102)), the Flnancial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 1021 and the Companles Act 2006. Change In basis of accountlng or to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Golng Concern The Forglveness Projert has reported a deficit of £-59801 for the year and a reduction In reserves to £74369 The Trustees are of the view that the charity has sufficient resources to operate for the next 12 months based on the funds carried forward, the plans for the year, and the funding strategy we are executing to diversify our funding streams. We also have contingency plans In place to ensure viability should the planned funding levels not be reached. Therefore the financial statements of the charity are prepared on a golng concern basis. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Restritted funds Income Recognition of income Income is included In the Statement of Financial Artivities (SOFA) when the charity becomes entitled to, It is probable that the Income will be received and, the income and the amount of the income can be rneasured with sufficient rellability. Where income has related expenditure the Income and related expenditure is reported gross in the SOFA. Income with related expenditure Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equlvalent amount in expenditure) where the and facilities benefit to the Charity is reasonably quantiflable, measurable and material Volunteer help The value of any volunteer help receNed is not included in the accounts. Expenditure Recogn ition of expenditure Expendlture Is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. These comprose the costs assoclated wlth attractlng voluntary income, and fundraising trading costs. These comprise the costs incurred by the Charity in the delivery of its artivities and servlces In the furtherance of its objects, Including the making of grants and governance costs. Expenditure on,. raising funds Expenditure on charitable activities 16
The Forgfvene55 Projert Notes to the Accounts Governance costs These Include those costs assocTated wlth meetlng the constltutlonat and Statutory requlrements of the Charlty, Intludlng any audlt/lndependent examlnatlon fees, costs Ilnked to the strateglc management of the Charlty, together wlth a share of other admlnlstratlon costs. Taxatlon The charity Is exempt from corporatlon tax on its charltsble actlvltles. Tangible flxed assets and depreclatlon DepCIatIon Is provlded at the followlng a nnual rates In order to wrlte off each asset over Its est5mated useful Ilfe: The F Word Exhlbltlon Furniture, fittlngs 25% straÈght line and equipment Capital Items costlng In excess of £500 are capTtalised: Fixed assets are shown at hlstorlcal cost 20% stralght Ilne Trade and other debtors Trade and other debtors are recognTsed at the settlement amount due after any trade discount offered. Prepayrnents are valued at the amount prepald net of any trade dEscounts due. Cash and cash equlvalents Cash and cash equlvalents comprlse cash at bank and on hand, demand deposlts wlth banks and other short-term highly Ilquid Investments with orlglnal maturitles of three months or less and bank overdrafts. In the ststement of rsnancial position, bank overdrafts are shown within borrowTn8s or current Ilabilitles. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdraftsthat are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other credltors and provlsions are recognised where the charity has a present obligation resulting from a past event that w511 probably result In the transfer of funds to a third party and the amount due to settle the obllgatlon can be measured or estimated rellably. Creditors and provlslons are normally recognlsed at thelr settlement amount after allowlng for any trade discounts due. Foreign currencles Monetary assets and liabllities denomlnated In currencies other than the functional currency of the charbty are translated at the rates of exchange prevailln8 at the end of the reporting period. Transactions in currencles other than the functional currency of the charity are recorded at the rate of exchange on the date that the transactlon occurred. All exchange dlfferences are are taken Into account In arrlvlng at net Incomelexpenditure. Leased assets In the event that tease incentives are received to enter into operating leases, such Incentives are recognised as a Itabillty. The aggregate beneflt of Incentlves Is reco8nised as a reduction of rentsl expense on a stralght-llne basls. Penslon costs The charity operates a defined contrlbutlon plan for Its employees. A defined contribution plan is a pension plan Recelpt of donated goods, facllftoes and servlces All donated good5, facllEtles and servSces received are recognised wlthln Incoming resources and expenditure at an estlmate of the value to the charity, 2 Company status The cornpany Is a prlvate company Ilmlted by guarantee and consequently does not have share capital.
The ForEN*ness Project Notes to the Accounts at 31 M•rch 2025 3 Statement of Flnanclal Attlvltles - prfor year Unfestrlcted funds 2024 Re5trlrted funds 2024 Totsl funds 2024 lTrcome and endowments from: Donations and legacles Charitable activitles Investments Total Expendlture on: Raising funds Charitsble attivities Total Net gains on investments Net expenditure Transfers between fvnds Net movement In funds Reconciliatlon of funds: Totsl fvnds brought forward Totsl funds carried forward 62,898 12,380 628 75,906 10,0 72,898 12,380 628 85,906 10,oTh) 5,054 108,377 113,432 4,4Crf) 22,236 26,636 9,454 130,613 140,068 (37,526) (16,636) {54,162) (37,526) (16,636) (54,162) 50,626 29,025 79,651 IrKome from donations and legacies Unrestrlrted 2025 Restrlrted 2025 Totsi 2025 Total 2024 Grants Donations and supporters progra mrne 10,000 88.127 33,000 43,000 88.127 21,OCMJ 51,898 98,127 33,000 131,127 72.898 Income from tharitable actrvitses Unrestrirted 2025 Total 2025 Total 2024 Contrdrt Income Fees and related income Books sales and Itcensing 5,259 6,465 656 12,380 8,139 1,447 9,586 8.139 1.447 9,586 Unrestrfcted 2025 Total 2025 Total 2024 Bank interest 145 145 145 628 628 145 18
The Forgiveness Project Notes to the Accounts at 31 March 2025 Expenditure on ralslng funds.. Unrestr5cted 2025 Restricted 2025 Total 2025 Totsl 2024 Costs of genemting voluntory Income Fundraislng Costs Fundraising salarfes 416 9,038 9,454 1,348 1,348 4,049 4,049 5,397 5,397 Expendtture on charitable artlvities U nrestricted 2025 Restrlcted 2025 Total 2025 Totsl 2024 Expendlture on charitable activities Project costs Core staff costs Support costs Governance costs Governance Costs 6,393 33,745 4,619 5,597 24,822 11,990 58,567 4,619 30,391 87,193 11,740 484 45,241 1,290 130,614 30,419 75,660 Net Expenditure before transfers 2025 2024 This is stated after charging: Independent Examiner's fee Other fees paid to the independent exarnlner 450 1,279 JL 1,582 1,729 1,982 10 Staff Costs 2025 2024 Salaries and wages Redundancy pay SocTal security costs Pension costs 40,237 86,492 9,324. 2,111 3,076 101,002 1,387 41,624 No employee received ernolurrients in excess of £60,000. The average monthly nurnber of full tFme equivalent employees durÉngthe year was as follows: 2025 Number 2024 Number Charitable activities 19
The Forglveness Projert Notes to the Accounts at 31 March 2025 11 Tanglble fixed assets The F Word Exhlbltlon Furnfture, ffttlngs and èqulpment Total Cost or revaluatlon at l Aprll 2024 Addit+ons at 31 March 2025 44,f)05 11.773 56,377 44,605 11,773 56,378 Depreclatlon and Impairment at l April 2024 Charge for the year at 31 March 2025 {44,605) (10,254) 1380 (10,634} (54,859) (44,605) (55,239) Net book value at l April 2024 at 31 March 2025 1,519 1,139 1,519 1,139 12 Debtors 2025 2024 Other debtors Prepayments and accrued Income 4,173 370 4,543 9,755 923 10,678 13 Credltors amountsfalling due withln one year 2025 2024 Trade credltors Accruals Deferred income 405 1,738 11,280 13,423 427 2,498 11,280 14,205 14 Deferred Income 2025 2024 At l April I ncreased/(Released} in current year At 31 March 11.280 4.668 6,612 11,280 11,280 The deferred income relates to a contrart which is to be delivered Tn 2025, but for which payment has already been receNed. 20
The Forglveness Project Notes to the Accounts at 31 Mar¢h 2025 15 Movement In funds Current Year at l Aprll Incomlng 2024 Resources Resources expended Transfers at 31 March 2025 Restrlrted fvnds: The Rank Foundatlon People's Postcode Lottery Middle Way Trust Natlonal Lottery Communlty Fund Souter Charltable Trust The Leigh Trust CAF American donor Fund 4,310 4,528 (4.310) 14,528) (5,000> {12,079) 5,0(Y) 20,000 7,921 5,000 (5,000) (3,551) (34,468) 3.551 12,389 Total 33,000 10,921 Unrestrirted funds Oesignated fund General funds 15,(XX) (15,CKK)) 15,000 59,369 13,100 107,858 (46,589) Total funds 25,489 140,858 (81,057) 85.290 Previous Year at l April Incoming 2023 Resources Resources expended at 31 March 2024 Restrirted funds: The Rank Foundation People's Postcode Lottery Guerrand-Hermès Foundation for Peace CAF American donor Fund 5,705 18,320 5,000 5,OCX) (6,395) {13,792) (5,000) 4.310 4,528 5,000 (1,449) 3,551 Totol 29,025 10,000 (26,636) 12,389 Unrestrlrted funds General funds 50,626 75,906 (113,432) 13,100 Total funds 79,651 85,906 (140,068) 25,489 Purposes and restrictions in relation to the funds: Restrirted funds: The Rank Foundation to support participation in the Rank Foundation Learning Programme developing the trading and social impact of the organisation People's Postcode Lottery Middle Way Trust to contribute to the salary of the administrative asslstant to fund the work of the communications manager, and developin8 online resources National Lottery Community Fund to contribute to the salary of the Administrator Souter Charitable Trust to fund "Forgiveness: a space for enquiry" The Leigh Trust to fund Shame-lnformed tralning across the female prlson estate CAF Amerlcan donor Fund to cover core costs . 21
The Forglveness Projert Notes to the Accounts .at 31 March 2025 16 Analysls of net assets between funds Unrestrlcted funds Restrlcted funds Totsi Fixed Assets Current assets Current Ilabllltles 1,139 86,653 13,423) 74,369 1,139 97,574 13,423) 85,290 10,921 10,921 17 Related Party Transactlons The were no related party transactions in the current and prior year 22