**Registered number: 05080555 Charity number: 1103999**
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2025**
## **MILDMAY COMMUNITY PARTNERSHIP (A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Company, its Trustees and advisers**|1|
|**Trustees' report**|2 - 7|
|**Independent examiner's report**|8|
|**Statement of financial activities**|9|
|**Balance sheet**|10 - 11|
|**Notes to the financial statements**|12 - 20|
**MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025**
|**Trustees**|Linda Brown, Chair|
|---|---|
||Goerge Waly Mane, Trustee|
||Steven Marshall, Trustee|
||Kyle Addy, Trustee|
||Miranda Dipino, Trustee|
||Steven Richards, Trustee|
|**Company registered**
**number**
05080555
**Charity registered**
**number**
1103999
**Registered office**
Mildmay Community Centre
Woodville Road
Islington
London
N16 8NA
**Chairperson**
Linda Brown
**Accountants**
Accounting People Ltd
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS||
Page 1
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their annual report together with the financial statements of the Mildmay Community Partnership for the 1 April 2024 to 31 March 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 Company 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.
## **Objectives and activities**
## **a. Policies and objectives**
Principally, Mildmay Community Partnership exists to support the residents, organisations and businesses in the Mildmay Ward; in particular to relieve poverty and to develop the capacity and skills of its constituency.
Our Vision is of…
• A Fairer Islington
Our Mission is to…
• Tackle inequality and empower our local communities for social change and support health and wellbeing.
We will achieve this by:
## **Strategic Objective 1: Reducing social isolation and loneliness**
We will develop a sustainable multi-functional facility at the heart of the community that brings local communities together, to reduce social isolation to increase and improve community cohesion.
## **Strategic Objective 2: Bringing people together to break down barriers, promote shared understanding and strengthen social cohesion**
We will increase the enhancement of community-led participation, by way of activities, services and events that help bring people together from differing cultural backgrounds and demographical circumstances, to gain mutual understanding.
## **Strategic Objective 3: Improving health and wellbeing (in its broadest sense)**
We will continue to create conditions for us all to thrive; by way of a fully accessible, welcoming, safe community space for the benefit of its local residents to work, play and learn. A space that serves to bring children, young people and their families together, to help build a sense of belonging, wiithin their community.
## **Strategic Objective 4: Advancing education and skills**
We will provide and or deliver educational services and activities that lend themselves more prominently, to the needs of sections of the community experiencing social and economic exclusion.
Page 2
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Objectives and activities (continued)**
## **Public benefit**
From April 2024 to March 2025, the centre remained a cornerstone of community wellbeing, creative expression, and connection, welcoming an exceptional **35,916 attendances** during its weeks of delivery. Although not operating across a full calendar year, the programme's reach and impact speak to a deep and sustained commitment to community-led provision.
Operational scheduling was shaped by key seasonal and structural factors:
A **6-week summer break** and **school half-terms** during which many children and youth programmes paused due to funding shifts to larger single-service youth clubs.
**Annual leave for facilitators** , temporarily pausing regular sessions on **Public and seasonal holidays** , including Christmas, New Year, and bank holidays. Despite these necessary pauses, the centre consistently delivered inclusive programming tailored to local needs.
It remained a trusted hub for residents across life stages: advancing **health equity** , strengthening **food security** , nurturing **creative expression** , and supporting **community resilience** in the face of economic uncertainty.
## **b. Strategies for achieving objectives**
The objective (purpose) of which the Company is formed shall be predominantly but not exclusively for the benefit of the inhabitants of Mildmay in the London Borough of Islington to relieve poverty and to develop the capacity and skills of the said inhabitants in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society with the object of improving their quality of life.
•The strategic initiatives of the organisations to achieve its objectives are in summary;
•Management of the Mildmay Community Centre for and on behalf of the local community with the Mildmay ward of Islington and surrounding areas.
•To apply for funds from grant funding bodies to develop and deliver services and activities for and on behalf of the local community within the Mildmay ward of Islington
.
•Work in partnership with other statutory and third sector organisations to achieve the primary objectives.
•The dissemination of information gathered from the local residents in relation to services and activities for and on behalf of the local community and partner organisations.
•Development and delivery of services and activities that seek to improve community cohesion, health and wellbeing and equality.
•Creating a welcoming, safe space for sections of the community, experiencing social or financial exclusion.
Page 3
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Objectives and activities (continued)**
## **Key objectives**
• To maintain a fully DDA compliant accessible building.
• Reduce the carbon footprint by introducing the renewable technologies integrated into the building.
• Reduce the operating cost of the centre so as to provide a greater proportion of its resources to services and activities for an on behalf of the community.
## **c. Activities undertaken to achieve objectives**
Over 12 years ago, Mildmay Community Partnership proudly redeveloped the Mildmay Community Centre to meet retrofit Passivhaus standards, showing our commitment to long-term energy efficiency and environmental responsibility.
As a small, independent charity, we rely on earned income to carry out repairs and maintain the Centre’s high performance. While necessary updates will place added pressure on our finances, especially in the face of broader economic challenges, we remain fully committed to continuing our essential services for those in need.
We will do all we can to ensure the Centre remains a warm, efficient and supportive space for the community we serve
## **Achievements and performance**
## **a. Main achievements of the Company**
**Physical and mental wellbeing** remained central to the centre’s mission. With over 2,400 attendances, sessions ranged from gentle movement classes for older adults to energising dance fitness and inclusive strength-building workshops. These activities strengthened not only bodies but social ties, supporting independence and mobility across participants of all ages.
**Youth engagement** surged with over 2,000 children and young people benefiting from vibrant offerings such as Nu Flow Dance Culture, Capoeira Kids, and the SIS Project Girls Group. Through one-to-one support and peer activities, these programmes fostered safe environments for creative exploration, emotional wellbeing, and collective growth. Intergenerational initiatives extended these outcomes further, inviting cross-age participation that nurtured shared learning and interdependence.
**Arts and culture** remained a heartbeat of the centre, providing pathways for reflection, self-expression, and storytelling. From embroidery and jewellery making to writing groups and graffiti workshops, participants explored identity and creativity. The year also included meaningful excursions to Sadler’s Wells and the Saatchi Gallery, expanding cultural access and sparking fresh inspiration.
**Food access** was another pillar of impact. The combined efforts of the Felix Trust and City Harvest donations to our food bank and community coop supported over 13,000 access points, responding to acute nutritional need and social isolation. Seasonal programmes like community events, Winter Warmer Soup Days, Cool Rooms and Cook-Up sessions offered both sustenance and companionship, while sustainability projects such as gardening, eco workshops, and recycling bags signalled evolving community priorities.
Page 4
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Achievements and performance (continued)**
**Peer networks** provided essential routine and emotional connection to more than 2,200 attendees. Weekly groups like Golden Oldies, SWIM, and Indoor Bowls helped combat isolation, offering regular spaces for dialogue, movement, and mutual support.
**Faith and cultural** identity were honoured through weekend services and events led by organisations including the New Testament Church of God, Samba Percussion, and Capoeira. These offerings anchored community belonging and inclusive spirituality, with consistent attendance across generations.
The centre also deepened its role in housing and **community advocacy** . Through councillor surgeries, resident consultations, and strong partnerships with Help on Your Doorstep, Bright Futures, and local housing teams, it responded to complex challenges around tenancy rights, domestic safety, financial hardship, and safeguarding. These services strengthened local accountability and ensured that statutory support felt both accessible and attuned to individual needs.
Meanwhile, **events** such as Cost-of-Living Days, Lovers Rock Night, and the Mildmay Christmas Fair provided moments of support, joy and celebration: reaffirming collective identity and resilience during times of economic uncertainty.
In **reflection** , this was a year of compassion, creativity, and adaptive strength. The centre not only sustained core services under shifting conditions but expanded its vision for a healthier, more connected community. Whereby we at the Mildmay Community Centre remained a trusted beacon one that listens, responds, and continues to lead with heart.
## **b. Investment policy and performance**
The Memorandum & Articles of Association provides that the organisation invests monies not immediately required for its own purposes in or upon such investments, securities or property, as may be thought fit. At the present time the Trustees' policy is to maintain all such monies on deposits earning a market rate of interest.
The trustees are pleased to report this year that subsequent to the submission of the application. Mildmay Community Partnership awarded the Voluntary and Community Sector grant by the London Borough of Islington Council are in their fourth year of the award. - In conjunction with funding and donations from:
Putney Pets at Home Blue Cross Neighbourly Foundation Tesco City Bridget Trust Jack Petchey Foundation Cripplegate Foundation London Youth Octopus Community Network Local Initiative Fund Bentley Advancing Life Chances Charles S French Charitable Trust Islington Giving Community Fund: Awards for All Go London!
Page 5
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Achievements and performance (continued)**
## **Organisations hosted and or based at the centre from April 2024 to March 2025:**
As well as the development and delivery of community-led projects, we are host to and provide a host of community-led activities for,
children and young people: Little Strikers Under-5s Football, Outta Skool Art Club, Capoeira Kids Project UK, Woodwork and Jewellery workshops, Parent & Child Yoga and produce growing workshops, and our youth club.
a number of exercise activities, Zumba, Gentle Pilates, Dancefit. And for those in our community who are unable to attend our more rigorous exercise classes due to ill health or disabilities we host our, Staying Steady, Seated Yoga and Strength & Balance.
activities that lend themselves more to hobby or interest enjoyed by many of our residents, Indoor Bowls, Bingo with Georgina, Pumpkin Jigsaw and Ladies Roller skating.
or for those in our community who just like to come and meet new friends, or their neighbours, wanting to spend time to sit and reflect, and exchange ideas and hold conversations on life’s issues and experiences, Men in Motion, Life Coaching Sessions Faith Group, and Golden Oldies Senior Citizens & Disabled Group.
## **Financial review**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
The Trustees’ are aware that the organisation needs to have sufficient reserves to allow the charitable company to manage its affairs. It is the aim of MCP that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to at least three months expenditure - in line with Charity Commission expectations. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised.
At current levels of expenditure (as at 31 March 2025) this amounts to £62,115,. At the year-end free reserves (not tied up in fixed assets) amounted to £64,191. The trustees will actively review the major risks to MCP throughout the year. Procedures have been established for identifying significant risks and developing and implementing strategies to mitigate such risks. For 2025-26 the Trustees will be reviewing the Risk Register and its impact on our reserves policy.
Page 6
**(A company limited by guarantee)**
## **MILDMAY COMMUNITY PARTNERSHIP**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
## **Structure, governance and management**
## **a. Constitution**
Mildmay Community Partnership is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
## **b. Methods of appointment or election of Trustees**
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the terms of the Memorandum of Association.
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Company 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 . 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 Company 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 Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Linda Brown** (Chair of Trustees) Date:
Page 7
**MILDMAY COMMUNITY PARTNERSHIP (A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Independent examiner's report to the Trustees of Mildmay Community Partnership ('the Company')**
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing 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 come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed: Dated:
## **Accounting People Ltd**
Devonshire House, 582 Honeypot lane, Stanmore, HA7 1JS
Page 8
**MILDMAY COMMUNITY PARTNERSHIP (A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Income from:**
Donations and legacies
2
Other trading activities
3
**Total income**
**Expenditure on:**
Charitable activities
4
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2025**
**£**
**84,338**
**-**
**84,338**
**57,489**
**57,489**
**26,849**
**1,509,341**
**26,849**
**1,536,190**|**Unrestricted**
**funds**
**2025**
**£**
**347,539**
**127,273**
**474,812**
**245,621**
**245,621**
**229,191**
**50,489**
**229,191**
**279,680**|**Total**
**funds**
**2025**
**£**
**431,877**
**127,273**
**559,150**
**303,110**
**303,110**
**256,040**
**1,559,830**
**256,040**
**1,815,870**|_Total_
_funds_
_2024_
_£_
_126,381_
_114,532_
_240,913_
_277,455_
_277,455_
_(36,542)_
_1,596,372_
_(36,542)_
_1,559,830_|
|---|---|---|---|---|
Page 9
## **MILDMAY COMMUNITY PARTNERSHIP (A company limited by guarantee) REGISTERED NUMBER: 05080555**
## **BALANCE SHEET AS AT 31 MARCH 2025**
|**Note**
**Fixed assets**
Tangible assets
7
**Current assets**
Debtors
8
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
10
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
11
Unrestricted funds
11
**Total funds**|**26,989**
**37,202**
**64,191**
**(9,966)**|**2025**
**£**
**1,761,645**
**1,761,645**
**54,225**
**1,815,870**
**-**
**1,815,870**
**1,815,870**
**1,536,190**
**279,680**
**1,815,870**|_24,669_
_36,440_
_61,109_
_(34,764)_|_2024_
_£_
_1,811,316_
_1,811,316_
_26,345_
_1,837,661_
_(277,831)_
_1,559,830_
_1,559,830_
_1,509,341_
_50,489_
_1,559,830_|
|---|---|---|---|---|
The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
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.
Page 10
## **MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee) REGISTERED NUMBER: 05080555**
**BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025**
The financial statements were approved and authorised for issue by the Trustees on _________________________________________________ and signed on their behalf by:
................................................
**Linda Brown** (Chair of Trustees)
The notes on pages 12 to 20 form part of these financial statements.
Page 11
**MILDMAY COMMUNITY PARTNERSHIP (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. Accounting policies**
## **1.1 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.
Mildmay Community Partnership 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.
## **1.2 Income**
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
## **1.3 Expenditure**
Expenditure is recognised 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. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **1.4 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.
Page 12
**MILDMAY COMMUNITY PARTNERSHIP (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. Accounting policies (continued)**
## **1.5 Tangible fixed assets and depreciation**
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
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:
- Fixtures and fittings 2% per annum - Office equipment 25% per annum - Computer equipment 25% per annum
## **1.6 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.
## **1.7 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.
## **1.8 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 Company 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.
## **1.9 Financial instruments**
The Company 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 13
**MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. Accounting policies (continued)**
## **1.10 Pensions**
The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year.
## **1.11 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 Company 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 Company 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.
## **2. Income from donations and legacies**
|Trust and government grants
Similar incoming resources
Trust and government grants
Similar incoming resources|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
84,338
332,738
-
14,801
84,338
347,539
_Restricted_
_funds_
_2024_
_Unrestricted_
_funds_
_2024_
_£_
_£_
_54,078_
_58,751_
_-_
_13,552_
_54,078_
_72,303_|**Total**
**funds**
**2025**
**£**
**417,076**
**14,801**|
|---|---|---|
|||**431,877**|
|||_Total_
_funds_
_2024_
_£_
_112,829_
_13,552_|
|||_126,381_|
Page 14
**MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **3. Income from other trading activities**
## **Income from non charitable trading activities**
|**Unrestricted**
**funds**
**2025**
**£**
Charitable activity Income
127,273
_Unrestricted_
_funds_
_2024_
_£_
Charitable activity Income
_114,532_|**Total**
**funds**
**2025**
**£**
**127,273**|
|---|---|
||_Total_
_funds_
_2024_
_£_
_114,532_|
## **4. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Staff salaries
Projects costs
Office supplies
Utilities cost
Repairs and maintenance
Insurance
Telephone and internet
Computer and software cost
Depreciation - tangible fixed assets
Accountancy and Independent examiner fee|**Restricted**
**funds**
**2025**
**Unrestricted**
**funds**
**2025**
**£**
**£**
25,000
132,274
32,489
-
-
3,144
-
22,061
-
16,038
-
2,495
-
1,197
-
8,165
-
49,671
-
10,576
57,489
245,621|**Total**
**2025**
**£**
**157,274**
**32,489**
**3,144**
**22,061**
**16,038**
**2,495**
**1,197**
**8,165**
**49,671**
**10,576**|
|---|---|---|
|||**303,110**|
Page 15
**MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **4. Analysis of expenditure on charitable activities (continued)**
## **Summary by fund type (continued)**
|Staff salaries
Project Costs
Office supplies
Utilities cost
Repairs and maintenance
Insurance
Telephone and internet
Computer and software cost
Depreciation - tangible fixed assets
Accountancy and Independent examiner fee|_Restricted_
_funds_
_2024_
_£_
_-_
_33,826_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_33,826_|_Unrestricted_
_funds_
_2024_
_£_
_133,858_
_9,018_
_2,576_
_13,407_
_8,934_
_8,038_
_1,333_
_6,772_
_49,476_
_10,217_
_243,629_|_Total_
_2024_
_£_
_133,858_
_42,844_
_2,576_
_13,407_
_8,934_
_8,038_
_1,333_
_6,772_
_49,476_
_10,217_|
|---|---|---|---|
||||_277,455_|
## **5. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £1,500 _(2024 - £1,500)_ , and for accountancy services of £1,800 ( _2024_ - _£1,800_ ).
## **6. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
Page 16
**(A company limited by guarantee)**
## **MILDMAY COMMUNITY PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **7. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2024
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
_At 31 March 2024_
**Debtors**
**Due within one year**
Trade debtors|**Fixtures and**
**fittings**
**£**
**2,358,702**
**2,358,702**
**551,758**
**47,176**
**598,934**
**1,759,768**
_1,806,944_|**Office**
**equipment**
**£**
**5,858**
**5,858**
**2,670**
**1,599**
**4,269**
**1,589**
_3,188_||**Computer**
**equipment**
**£**
**3,197**
**3,197**
**2,013**
**896**
**2,909**
**288**
_1,184_
**2025**
**£**
**26,989**
**26,989**|**Total**
**£**
**2,367,757**|
|---|---|---|---|---|---|
||||||**2,367,757**|
||||||**556,441**
**49,671**|
||||||**606,112**|
||||||**1,761,645**|
||||||_1,811,316_|
||||||_2024_
_£_
_24,669_
_24,669_|
## **8. Debtors**
Page 17
**(A company limited by guarantee)**
## **MILDMAY COMMUNITY PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **9. Creditors: Amounts falling due within one year**
|Bank loans
Trade creditors
Other taxation and social security
Other creditors|**2025**
**£**
**-**
**4,369**
**2,902**
**2,695**
**9,966**|_2024_
_£_
_24,000_
_5,878_
_2,519_
_2,367_|
|---|---|---|
||||
|||_34,764_|
## **10. Creditors: Amounts falling due after more than one year**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Bank loans|**-**|_277,831_|
Page 18
**MILDMAY COMMUNITY PARTNERSHIP**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **11. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Funds - all funds
**Total of funds**
**Statement of funds - prior year**
**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Restricted Funds - all funds
**Total of funds**|**Balance at 1**
**April 2024**
**£**
**50,489**
**1,509,341**
**1,559,830**
_Balance at_
_1 April 2023_
_£_
_107,283_
_1,489,089_
_1,596,372_|**Income**
**£**
**474,812**
**84,338**
**559,150**
_Income_
_£_
_186,835_
_54,078_
_240,913_|**Expenditure**
**£**
**(245,621)**
**(57,489)**
**(303,110)**
_Expenditure_
_£_
_(243,629)_
_(33,826)_
_(277,455)_|**Balance at**
**31 March**
**2025**
**£**
**279,680**|
|---|---|---|---|---|
|||||**1,536,190**|
|||||**1,815,870**|
|||||_Balance at_
_31 March_
_2024_
_£_
_50,489_|
|||||_1,509,341_|
|||||_1,559,830_|
Page 19
**(A company limited by guarantee)**
## **MILDMAY COMMUNITY PARTNERSHIP**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **12. Summary of funds**
## **Summary of funds - current year**
|General funds
Restricted funds
**Summary of funds - prior year**
General funds
Restricted funds|**Balance at 1**
**April 2024**
**£**
**50,489**
**1,509,341**
**1,559,830**
_Balance at_
_1 April 2023_
_£_
_107,283_
_1,489,089_
_1,596,372_|**Income**
**£**
**474,812**
**84,338**
**559,150**
_Income_
_£_
_186,835_
_54,078_
_240,913_|**Expenditure**
**£**
**(245,621)**
**(57,489)**
**(303,110)**
_Expenditure_
_£_
_(243,629)_
_(33,826)_
_(277,455)_|**Balance at**
**31 March**
**2025**
**£**
**279,680**
**1,536,190**|
|---|---|---|---|---|
|||||**1,815,870**|
|||||_Balance at_
_31 March_
_2024_
_£_
_50,489_
_1,509,341_|
|||||_1,559,830_|
Page 20