Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Walesj A Cotnpany limited by guarantee not having a share capital and a registered charity TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) CONTENTS Legal and Administrative Information Trustees, Report Independent Auditor's Report 16 Statement of Financial Activities 20 Balance Sheet 21 Statement of Cashflows 22 Notes on the Financial Activities 23
Hibiscus LEGAL AND ADMINISTRATIVE INFORMATION Trustees Therese Prince (Chair. appointed 20.05.24) Farzana Alam (Treasurer, appointed 16.09.24) Rosalyn Akar Grams Annette Man Kwan So Anne Noreen Langton Michael Greenwood (Treasurer, resigned 30.09.24) Laila Aziz Lara Fatsh (appointed 16.09.24) Elanor Lee (appointed 16.09.24) Roselin Mgbezeh (professionally known as Roz Morrison) Klara Skrivankova Lutendo Wigman (appointed 16.09.24) Chief Executive Baljlt Banga Secretary Gabriela Quevedo Charity number Company number 01104094 04533442 Principal address and registered office Lion House, Red Lion Street London WCIR 4NA Auditors Kingston Burrowes Audit Ltd Statutory Auditors 308 Ewell Road Surbiton KT6 7AL 3of32
Hibiscus TRUSTEES, REPORT The Trustees present their Report and Financial Statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) Accounting and Reporting by Charities., Charities Act 2011, Companies Act 2006 and U K Generally Accepted Accounting Practice. In preparing this report, the Trustees have taken advantage of the small company's exemptions provided by Section 415A of the Companies Act 2006. Objectives The key charity objectives of Hibiscus Initiatives, hereinafter referred to as Hibiscus, are: Provide trauma-informed support to Black and minoritised migrant women who are in contaGt with the criminal justice and immigration systems and who have been subjected to violenTr (VAWG) to rebuild their lives. Create safe aCsS to opportunities in employment, education and othertraining and development to enable them to live independently addressing their economic wellbeing. Support the rights of Black and minoritised migrant women through advocacy and other representations in furtherance of the charitable objectives. Our Vision To build a fair and just society where inequalities are eliminated from the criminal justi and immigration systems and where women can live their lives free from violence and harm. Our Mission Hibiscus enables Black and minoritised migrant women interacting with the immigration and justice systems who have also been subjected to VAWG to rebuild their lives. Our mission includes: Provide advocacy, support and specialist services to Black and minoritised migrant women. Enable informed choices. Promote social justice and respect. Support positive relationships free from Violen and harm and support health and mental wellbeing. Enable Black and minoritised migrant women to build their resources to support their economic independence. Reduce social and structural inequalities that adversely impact women. Continue to develop as an anti-racist organisation working towards racial justice for Black and minoritised migrant women. influence change in the criminal justice and immigration systems working towards a fairer and just society, Our Values Integrity.. Work proactively reflecting our values and centring social justice and equality in all we do. Respect., Uplift women (services users, staff, colleagues and stakeholders) ensuring their voices and representations are valued and elevated towards our mission, vision and values. Equality. Work to eradicate barriers for Black and minoritised migrant women. 4of32
Hibiscus TRUSTEES, REPORT Inclusive: Centre lived experience in meaningful and transfomiative ways working to address the hamis of racism and social injustiS and creating safe space where women can thrive. Activities Hibiscus is the UK'S leading organisation working with Black, minoritised and migrant women in contact with the immigration and Criminal Justice System {CJS) and addressing VAWG, We are an interseclional feminist organisation led by and for the women we support, We work in trauma-informed and holistic ways to prevent repeat and secondary victimisation providing women with the support they need to rebuild their lives. We deliver our work in the following areas,. Community and Women's Centre Trauma-informed support and specialist advocacy and advice ServIS to women in the community. Safe Homes housing project addressing the needs of migrant women. Specialist courts advocacy and rights-based services interacting directly with women. Specialist project supporting young women interacting with the systems, Criminal Justice Specialist advocacy to Black, minoritised and migrant women in prisons. Intensive trauma-infomed support through the holistic WrapAround and Through the Gate projecls dedicated lo supporting women in the community, after they have left incarceration, Specialist welfare support. Policy and Public Affairs Influencing policy and public perception of migrant women and continuous engagement in public affairs to achieve a shift in policy inclusive of diverse perspectives. Working to end the intersectional discrimination that Black and minoritised migrant women's experience in the immigration and CJS. Addressing VAWG from an intersectional lens through the policy landscape. Anti-trafficking advocacy and influencing work centring VAWG. As reflected in the work above, Hibiscus exists to provide advocacy, advice, support and specialist services to empower Black and minoritised migrant women to enable informed choices and positive change. This work is done by elevating women's rights through social Justi and by directly supporting women through VAWG. Support takes many forms and can include trauma-informed support including legal advice/representation,' support addressing the harms of VAWG,. direct advocacy to aCsS social services including housing., mental health and well-being support. education and training., and help to safely settle into communities. Integral to our work is research from lived experience and decolonial perspectives, influencing, communication and awareness raising to work towards shifts in public perception and policy. 5of32
Hibiscus TRUSTEES. REPORT The Trustees, in making decisions aboutthe activities, have had due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. All activities are considered by the Trustees to be in the public benefit. All of our funders require ongoing and end of project reports and have been satisfied that the outcome requirements have been mel or eXeded. Achievements and Performance COMMUNITY AND WOMEN'S CENTRE "Thank you for taking the tin79 to speak to me like a human.. (ServiGe User) "I want to thank you for support and care and foryour help too. Luckily, l am out now and back in London but l am still in shock for all that happened lo me... l appreciate too much your interest and your help. Thanks again for everything you have done for me.. (SeThice User) Our community team provides specialist, trauma-informed support to Black and minoritised migrant women affected by the criminal Justi system, immigration restrictions andlor are suNivors of VAWG including trafficking, modern slavery, sexual Violen and rape across the Greater London area, We continue to see a heightened level of need from women accessing casework support, with continued delays to immigration decisions, tribunals, and criminal justice proceedings, and consequent impact on women's practical situations, including mental and emotional health. Recenl legislation including the Nationality and Borders Act and Illegal Migration Act, and ongoing hostile rhetoric from the UK govemment surrounding migrants is resulting in many vulnerable women being left unprotected and their right to asylum and NRM applications under threat. Lack o* suitable housing, financial destitution made worse by the rising cost of living, difficulties accessing legal support and mental health treatment are all key areas of concern, Hibiscus Women's Centre continues to provide a safe Spa for Black and minoritised migrant women to come together, build connections and reduce isolation. Alongside our casework ServIS we deliver a varied programme of activities, covering practical support and skills such as English classes or housing information workshops. wellbeing groups and activities to build empowerment and agency such as the intersectional feminism discussion group. The Women's Centre has identified housing as a key issue for women acSsIng support. The Safe Housing Project for women addresses the lack of safe and suitable accommodation for Black and minoritised migrant women through a combination of specialist housing advocacy, working with housing providers to improve practlGe, and influencing positive changes to policy to increase housing options for migrant women. Additionally, we work to empower women with lived experience of insecure housing or homelessness to partner in creating change. Partnership working is an essential element of the Women's Centre. This year we worked with Street Talk- providing individual trauma-informed counselling to women who have eXperIend trafficking or modern slavery and the Protea Clinic - a parlnership with law students at King's College, London, and solicitors at Hammersmith and Fulham Law Centre, and Sutovic and Hartigan to offer one-off immigration legal advice Courts Advocacy Service Launched in November 2023, the Courts project provides specialist advi and advocacy lo Black and minoritised migrant women appearing as defendants at Westminster Magistrates Court. Two part-time project workers provide 6of32
Hibiscus TRUSTEES, REPORT women with information and support to understand and navigate the Courts process and conduct an inilial needs assessment to identify and refer women to appropriate support, which may include Hibiscus, community or prison services. CRIMINAL JUSTICE SERVICES Hibiscus, criminal justice services are made up of work in prisons and detention. The team provides holistic trauma- informed support to Black and minoritised migranl women in HMP Peterborough, HMP Downsview and HMP Bronzefield. The service also provides Through-the-Gate support for women as they leave prison and Wraparound support for women on probation across London. Alongside our weekly prison visits, we operate a phone helpline service1 day per week for women so they could contact us between visits. Wraparound Our WrapAround SeNice provides holistic, wraparound support to migrant women in contact with the criminal justice system across all London boroughs. The Servi is jointly funded by the Ministry of Justice and Mayor's offi on Policing and Crime {MOPAC), in partnership with Advance Charity, Women in Prison and Pecan. Women may be referred by probation, on release from prison, or can self-refer, and receive up to 12 months intensive support from one of our Wraparound Project Workers before being closed or referred on to our community team if they need further ongoing support. Women with criminal convictions face barriers when seeking employment, and the Wraparound service offers women a fair chance to access courses and training and gain employment. Overthe year, many seNice users took part in employment programmes. Detention The Hibiscus team provides specialist welfare support to Black and minoritised migrant women held in Yart's Wood. Hibiscus stopped supporting women at Derwentside in August 2023. the Sahara Unit closed in November 2023, and Gatwick PDA temporarily closed in January 2024. This coincided with Hibiscus, decision to end its contract with the Home Office at the end of the financial year, In light of these changes, our focus shifted to ensure a smooth exit strategy, and the team continued to provide essential services to those detained, striving to effectively address their complex needs. Specialist Advocacy and Advice Services to Women in Prisons We continue to work with migrant women in thr prisons: HMP Bronzefield, HMP Peterborough and HMP Downview. During the year, Hibiscus recruited two new members of staff to the team, including a specialist Through-the-Gate project worker. We continue to visit each prison w&kly to provide individual advice, advocacy and emotional support to migrant women as well as delivering workshops and group activities. We also operate a phone helpline service one day per w&k for women from HMP Peterborough to contact us for additional support between visits and since January, we have expanded this to cover all 3 prisons. POLICY AND PUBLIC AFFAIRS Hibiscus, Policy and Public Affairs team works to Influen policy change to impiove access to rights of Black and minoritised migrant women in contact with the criminal justice and immigiation systems and who are subjected to VAWG. Hibiscus seeks to influence policy change from the frontline by pulting al the forefront our service users, expertise in a meaningful way. We advocate for change by engaging in different policy processes involving research 7of32
Hibiscus TRUSTEES. REPORT and engagement with key decision makers and stakeholders. Working in partnership with organisations in the third sector and service users we seek to improve the policy and practices affecting Black and minoritised migrant women, both highlighting issues in the UK and intemationally. Our work focuses on the following issues.. Reducing homelessness and poverty amongst Black and minoritised migrant women. Better recognition and care forvictimslsurvivors of all forms of VAWG including trafficking, modem slavery, sexual violence and rape among other experiences. Addressing racial inequalities in the criminal justice and immigration systems. Reducing imprisonment and detention of migrant women, including advocating for community-based altematives to incarceration. Ending the discrimination that Black and minoritised migrant victimlsurvivors of Violen against women and girls experience when seeking support and justi. The Policy and Public Affairs team has been working on the following activities.. Housing Project This was a busy period for our advocacy work in housing. We launched our new report Unsafe, Insecure.. Barriers to Safe Housing for Black and Minoritised Migrant Women and their Children. The report is the result of evidence gathered over the last two years, including data collected through conversations w1th Hibiscus's frontline caseworkers, our service users, and an analysis of our casework data. The report featured in the Inside Housing Magazine, Chattered Institute of Housing and the Russell Webster's website. The findings and recommendations are currently being used to shape collaborative work to ensure the protections provided by the Renters, Rights Bill, which is currently moving through Parliament, are accessible to Black and minoritised migrant women. Violence Against Women and Girls (VAWG) Violence Against Women and Girls is a peas1Ve and prevalent issue in society. For Black and minoritised migrant women, the experiences of VAWG are often coupled with experiences of institutional and structural violence and exclusion from support. For our service users, disbelief and criminalisation are directly linked to intersectional and systemic racism worsened by hostile and punitive immigration policies. Furthermore, we have identified Ihat the experiences and needs of Black and minoritised migrant women in contact with the criminal justice and immigration systems are often overlooked in mainstream debates. In this context, we have actively increased our presence within the VAWG sector. At an international level, in March 2024 we attended the 140th Session of the Human Rights Committee to review the UK government's international commitments in Geneva. We presented evidence before the Human Rights Committee on the harmful impact of hostile environment policies on the women we support. This experien allowed us to meet with key stakeholders including the Special Rapporteur on VAWG, Anti.Trafficking Work One aspect of our work to address VAWG is anti-trafficking. Through our collaborative work to increase Hibiscus's visibility within the anti-trafficking sector, we were introduced to the HMPSS Head of Anti-slavery and Human Trafficking, through Colleagues from the Human Trafficking Foundation. Our engagement has been positive, and we were invited to present at the HMPSS Modern Slavery and Human Trafficking Conference held at the Ministry of Justice, HibisGUS'S Anti-Trafficking Officer spoke alongside colleagues from the International Organisation for Migration (IOM) and researchers from the University of Essex in a session focused on identifying and supporting 8of32
Hibiscus TRUSTEES, REPORT victimslsurvivors of modern slavery. We are also looking into the possibility of Hibiscus providing training for prison staff, specifically focused on meeting the needs of Black and minoritised communities. Women's Justice Reimagined Project This collaboration works to end intersectional discrimination in the CJS for Black and minoritised and migrant women. Our partnership work alongside Muslim Women in Prison, Zahed Mubarek Trust, Criminal Justice Alliance, Agenda Alliance and Women in Prison, has undertaken a strategic review and consultation, adopting the new name Women's Justi Reimagined.. campaigning for intersectional justice for her, Women with lived-experience were Included in this process to ensure their representation and expertise was considered. Engagement with Ministry of Justice and Home Office One of the earliest challenges for the new Laboui government has been addressing the prison crisis. In this context, there have been increasing calls for alternative approaches to custodial sentences, particularly for women. In recent months, we have seen positive announcements from the Ministry of Justice. In September, the Lord chanlIor announced the establishment of the Women's Justice Board, aimed at reducing the number of women in custody by prioritising early intervention and addressing the root causes of offending. sin this announcement, we have engaged with the Ministy of Justice and the Home offi through stakeholder meetings, as Ministers from both departments will serve on the Board. Our primary message has been lo ensure that the experiences of Black and minoritised migrant women are not overlooked or excluded from new proposals for women in prison. The Board will work together with the Women in Justi Partnership Delivery Group. Independent Sentencing Review More recently, the govemment launched the long-awaited Sentencing Review. However, in light of the review, we fa a particular challenge in supporting migrant women who have offended. In a House of Commons debate, on the issue of so-called foreign national offenders, the use of early removal schemes was suggested, which could be detrimental to our service users. We are currently working to develop a strategy to address the overlap between experiences within the CJS and immigration processes. In November, we metwith civil servants from the Home Office and the Ministry of Justice to express our concerns about the risks of excluding Black and minoritised migrant women from these policy processes. Our partnership project Women's Justice Reimagined has become especially relevant. We aim to involve partners and enhanTr collaboration to ensure that the experiences of intersectional discrimination faced by our service users in the CJS are not overlooked. With a view to influencing the Panel, in March 2025 we hosted three members at our Women's Centre, The visit focused on showcasing the opportunities Women's Centres provide for support and community-based management of women, as well as the specific needs of women following release. We focused on the challenges faced by migrant women when criminalised, and the 'double penalty, they endure as a result of the hostile immigration environment policy. the challenges and opportunities encountered by staff working in Women's Centres urging for sustainable investment in Women's Centres,. and we featured two women with lived experience speaking directSy with the Panel. 9of32
Hibiscus TRUSTEES, REPORT A Snapshot on Performance Data from 1 April 2024 to 31 March 2025 A total of 654 women were supported across Hibiscus, services. Hibiscus supported women from 82 countries of which 95% identified as Black and minoritised women and 40Q/o came from the Global South. 400/0 of women were provided with practical support. 16 % of women were provided with an immigration solicitor andlor referred to solicitors for further legal action. 454 women continues to receive support from Hibiscus during the year while 200 women achieved an outcome on their cases. The key outcomes were: 800/0 reiVed practical support covering a range of needs including help acquiring clothing, property-relaled support, recovery of legal documents and obtaining bank accounts. 27 % were referred to external agencies for further specialist support andlor for follow-on support. 25 % were provided support on housing-related support on matters SLJch as maintaining or improving their current housing situation, making a housing application, support through temporary accommodation, move-on to private rented housing or a women's refuge. 190/0 were provided support through legal advisors and assisted with evidence gathering supporting their cases. 11 0/0 were supported through a change in status such as being granted immigration bail and provided with asylum support. 7¥0 were supported to access benefits and welfare assistance. IOof32
Hibiscus TRUSTEES, REPORT Financial Review Financial Risk and Management The Trustees recognise that the main financial risk facing the charity is the potential inability to secure sufficient funding to sustain its core selvices. This risk has been heightened by the termination of the Home Office contract, which led to a reduction in some service delivery. In response, the charity has taken proactive steps to manage its cost base, including reduclions in staffing and overhead expenditure, while actively seeking alternative funding sources to sustain and develop its work. Fundraising activities are regularly reviewed, reserves are Closely monitored, and the Finance & Compliance Sub-committee updates the risk register quarterly, reporting directly to the Board. Operational and business risks are also assessed to ensure that appropriate mitigation measures remain in pla. Details of our funders are provided in Notes 2 and 3 to the financial statements. Income and Expenditure Total income for the year decreased by 47.7 % , from £1,873,894 in 2023124 to £980,918 in 2024125. The reduction primarily reflects a fall in charitable income following the conclusion of several major funding streams, including., Termination of funding from the Home Office {£593k), National Lottery Fund {£84.5k), The Forward Trust {£54.7kl, and MITE {£33.5k) Reductions in support from The Bell Foundation (£53.3k) and Esmée Fairbairn Foundation (£50kl. These decreases were partly offset by income from new funders, including Glasspool, which helped mitigate some of the overall reduction. Expenditure also reduced in line with income, falling by 240/0, from £1,815,183 to £1,387,797. However, as expenditure did not fall at the same rate as income, this resulted in a drawdown of £390,773 from reserves, comprising £27,048 from designated funds and the remainder from unrestricted reserve Reserves and Funds At 31 March 2025, the charity held total fvnds of £512,065 {2024'. £918,946), made up as follows: Restricted funds: £4,988 (2024.. £21,093) Designated funds.. £194,95212024.' £222,000) General (unrestricted) funds: £312,125 (2024.. £675,853) Restricted funds decreased by £16,106, as these were applied to specifiG donor-funded projects (see Note 16). Designated reserves redUd by £27,048 to cover contractual redundancy costs. General reserves deGlined to £312,125, a net reduction of £363,725 after transferring £27,048 from designated reseNes. Based on current expenditure levels, unrestricted reserves provide approximately five months, cover for operating costs, consistent with the Trustees, reserves policy. Ilof32
Hibiscus TRUSTEES, REPORT Outlook The Trustees are satisfied that the charity remains in a stable financial position. Continued focus on income diversification, cost management, and reserves strengthening will support resilience against external funding pressures, enabling the charity to deliver its core mission effectively in the year ahead. Our Strategy This year, we have been reviewing our five-year strategy to ensure that our focus continues to meel Ihe Ghallenges ahead and to adjust our approach as we undergo change, Our work will continue to centre an intersectional feminist and anti-racist approach. We will also centre lived experience in both transformative and trauma-infomied ways, As we work towards a new strategy, we will embed the VAWG lens to all aspects of our work with Black and minoritised migrant women impacted by the immigration and CJS. Our current strategy focuses on the following.. Theory of Change We want to ensure that women who use our services achieve long-tenn outcomes that support their recovery and wellbeing and enable them to rebuild their lives. This also means ensuring safety and Independen and reduced risks from repeat and secondary victimisation. Our theory of change embeds our values and centres the women we support. We understand that change to systems, structures and policies take time. We aim to take a realistic approach lo the theory of change that addresses intersectionality and that is based on women's experiences of the systems and slructures where they interact. We are also keen to document where things do not move in a positive direction and understand the negative impact on women in terms of the policies that impact their lives. Our theory is based on the following: Lived Experience We will continue to work directly with Black and minoritised migrant women at every point in the criminal justi and immigration systems, identifying and supporting them through theirexperiences and ensuring that we deliver the work embedding the VAWG lens, By centring our work on VAWG, we will ensure that obligations to women are met and that their eXperienS of VAWG fomi their interactions with systems in safe and empowering ways. To this end, lived experien representation must be informative and meaningful, and prevent trauma and harm caused by repetition of experience. Practice We will engage institutions within the criminaljustice and immigration systems, and work with colleagues in the VAWG sector as well as anti-racist and social sectors, to help improve understanding, service provision and support to create fairer praCtiS. By identifying victimslsurvivors of VAWG (trafficking, modern slavery, sexual violence and rape and other forms of Violen and abuse including in conflict, war and post-conflict) we will ensure women are supported through trauma-informed approaches, advocacy, training, tools and resources. We will work to influence institutions to understand the needs of migrant women and implement better, fairer practices. 12of32
Hibiscus TRUSTEES, REPORT Policy We will work collaboratively with other organisations to campaign for policy change. Hibiscus will provide eviden and the Vol of Black and minoritised migrant women to influence policy and practice. By providing a platfom for women subjected to VAWG and with experience of the criminal justice and immigration systems, we aim to positively influence policy and practice. Public Opinion We will provide communication platforms for Black and minoritised migrant women with lived experience to shape narratives and address negative media and create the shift in hostile policy that is needed. We will work to ensure honest, accurate, representative coverage in all forms of media about the experiences of migrant women, We will also ensure that any such engagement is safe and that harm is assessed during and posl*ngagement. We will take a proaclive stance protecting the rights of migrant women. structure, Governance and Management Hibiscus Initiatives is a company limited by guarantee without share capital incorporated on 12 September 2002 and registered with the Charity Commission on 2 June 2004 as a charity. Its governing rules are ils Memorandum and Articles of Association. Prior to its incorporation the charily had operated Sin 1986 as an unincorporated charity under the name Female Prisoners Welfare Project. On incorporation it became FPWP Hibiscus Limited and changed its name to Hibiscus Initiatives Ltd by special resolution on the 9 September 2013 (later dropping the 'Ltd" on 20 November 2014), The Articles of Association were reviewed and updated during 2014 and formally adopted in October 2014. While day to day responsibility is delegated to the Chief Executive, Baljil Banga and her senior leadership team, overall responsibility rests with the Board. Strategic decisions and those relating to Gonditions of employment for Ihe Chief Executive and senior leadership team are made by the Board and where appropriate with the assistance of external professional experts. The Chief Executive wotfts closely with the Board and the senior leadership team. Senior staff each manage a team of skilled staff and send regular departmental reports on their projects, work to the Board members. Hibiscus, administrative structure and governance arrangements are a crucial part of the organisation, drFving perf0rrnan and keeping delivery on track. We work to achieve the aims set out in the strategic plan and particular attention is paid to ensure staff training and support needs were met. 13of32
Hibiscus TRUSTEES, REPORT The Board of Trustees and Directors of the Company Selection and appointment of trustees is govemed by the charity's Articles of Association. The organisation requires that all trustees have a clear understanding of Black and minoritised migrant women's experiences including knowledge of the immigration and criminal justice systems and VAWG, and the needs and issues surrounding women in prison, including migrant women, those held in immigration removal centres in the UK, those released from both prisons and immigration removal centres, and issues surrounding VAWG as defined above, The directors of the charitable company are its Trustees for the purposes of charity law. New Trustees are inducted into Hibiscus and made aware of the full range of Iheir responsibilities. New Trustees are partnered with a more experienced Trustee for support, guidance and advice. The training and induction programme enables Trustees to learn about Hibiscus in a structured way so that they are able, from the start, to understand and subscribe to the charity's objectives. Reports on Hibiscus, activities are presented at each Board meeting, and this means that over time Trustees become familiar with the full range of work carried out by Hibiscus. Trustees attend Hibiscus events wherever possible and meet Servi users and key stakeholders. Key management salaries are set as part of the overall staff salary structure by the Chief Executive and approved by the Board through the annual budget approval prosS. The Chief Executive's salary is set by the Board. Salary levels are set wilh reference to the skillset and experience that staff members need to have to carry out our charitable activities which is assessed annually. 14of32
Hibiscus TRUSTEES, REPORT Trustees, Responsibilities Statement The Trustees, who are also directors of Hibiscus Initiatives for the purposes of Company Law, are responsible for preparing the Trustees, Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted 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 statement unless they are satisfi'ed that they give a true and fair view of the state of affairs of the charitable company and of the incoming reSoUrS and application of reSoUrs, including the income and expenditure, of the charitable company 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 prinGiples in the Charities SORP 2019 (FRS102)- Make judgements and estimates that are reasonable and prudent. Prepare the Financial Statements on the going conrn basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the Financial Ststements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware., There is no relevant audit information of which the charttable company's auditor is unaware., and The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information, Auditors The auditors, Kingston Burrowes Audit Ltd have expressed their willingness to continue in Offi and a resolution proposing their re-appointment will be put to the fot1hcoming Annual General Meeting, Approval This report was approved by the Trustees on 09 December 2025 signed on their behalf, by: Therese Prince Chair 15of32
Hibiscus Independent Auditor's Report to the Members of Hibiscus Initiatives Opinion We have audiled the financial statements of Hibiscus Initiatives (the 'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including significant accounting policies, The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and RepubliG 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 March 2025, and of its incoming resources and applicalion of reSoUrs, 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 accordan with International Standards on Auditing {UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our reporl. 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 UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihat the audil evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slatemenfs, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, 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 concem are described in the relevant sections of this report. Other information The other information comprises the information included in the trustees report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other informalion contained within the trustees, report. Our opinion on the financial statements does not cover the other information and, expt Éo the extent otheIse explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whetherthe 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 misstalements, 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 perfonned, we conclude that Ihere is a material misstatement of this other information, we are required to report that fact. 16of32
Hibiscus Independent Auditor's Report to the Members of Hibiscus Initiatives (cont.) We have nothing to report in this regard. Opinions 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 (incorporating the directors, report} for the financial year for which the financial statements are prepared is consistent with the financial statements., and the directors, report has been prepared in accordan with applicable legal requirements. Matters on which we are required to report by exception In the light of the 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 directors, report, We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have nol been kept, or retums 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 directors, remuneration specified by law are not made. or we have not reiVed all the information and explanalions we require for our audit. or the trustees were not entitled to prepare the financial statements in accordan with the small companies, regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fvlly in the trustees, responsibilities statement set out on page 11, 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 thatthey give a true and fairview, and forsuch internal control as the trustees detemiine is neSSary to enable the preparation of financial statements that are fr& 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 concem, disclosing, as applicable, matters related to going conrn and using the going conGem basis of accounting unless the trustees either intend to liquidate the charitable company or to ase operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are fe from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordance wilh ISAS (UK) wi11 always detect a material misstalement when it exists. Misstatements can arise from fraud or error and are nsidered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. 17of32
Hibiscus Independent Auditor's Report to the Members of Hibiscus Initiatives (cont.) Irregularities, including fraud, are instances of non-complian 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Enquiry of management and those charged with governan about actual and potential litigation or claims and the identification of non-complian with laws and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to supporting documentation to assess Complian with applicable laws and regulations. Auditing the risk of management override of controls, including lesting journal entries and other adjustments for appropriateness. assessing whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. Performing analytical produreS to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Professional skepticism in course of the audit and with audit sampling in material audit areas. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement 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 slatements, 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. A further description of our responsibilities is available on the Financial Reporting Council's website at.. www.frc.or .uklauditorsres nsibilits-es. This description fonns part of our auditor's 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 Part16 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 auditorfs report and for no other purpose. To the ftillest extent permitted by law, we do not accept or assume responsibility to anyone other than the Gharitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Kevin Fisher FCA (Senior Statutory Auditor) For and on behalf of Kingston Burrowes Audit Ltd Statutory Auditors 308 Ewell Road Surbiton KT6 7AL Dated 17 DecoLff 102 S 18of32
Hibiscus Charity Registration No. 01104094 Company Re8iStratton No. 04533442 (England and Wales) STATEMENT OF FINANCIAL ACTIVITIES Income and Expenditure Account for The Year Ended 31 March 2025 Unrestricted funds General Designated funds fund GBP (£1 GBP I£)_ Accounts Notes Restricted funds GBP 1£) Total 2025 GBP 1£) GBP (£1 Total 2024 Income from: . Donations and legacies 75,310 75,310 53,775 Charitsble activities 156,548 731,937 888.485 1,808,035 Investment: bank deposit account interests 17,123 17,123 12,084 Total 248,981 731,937 980,918 1,873,894 Expenditure on: Raising funds 49,639 49.639 21,287 Charitable activities 590.115 748,044 1,338,158 1,793,895 Total 639.754 748,044 1,387,798 1,815,182 Net income/ (expendlture) (390.773) (16,107) (406,880) 58,712 Transfer between funds 17 27,048 (27,048) Net movement in funds (363,725) {27,048) (16,106) (406,880) 58,712 Reconciliation of funds: Total funds brought forward 16117 675.852 222.000 21,094 918,945 860,234 Total funds carried forward 312,127 194,952 4,986 512,065 918,946 All income and expenditure are derived from continuing activities. There were no recognised gains or losses for 2024 and 2025 other than those included in the Statement of Financial Activities. The notes on pages 22 to 32 form part of these financial statements. 19 of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 IEngland and Wales) Balance Sheet as at 31 March 2025 ccounts 2024 GBP 1£) GBP (£1 GBP (£1 GBP (£1 CUrnt Assets". Debtors 12 69.018 251,055 Cash at bank and in hand 13 520,504 589,522 820,235 1,071,290 Llabilities: Creditors: amounts falling due within one year 14 77,457 152,344 Net current assets 512.065 918,946 Total Net Assets 512,065 918,946 The funds of the charity: Restricted income 16 4.986 21.093 General funds 17 312,127 675,853 Designated funds 18 194.952 222,000 Total unrestricted funds 507,079 897,853 Total charity funds 512,065 918,946 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to 5m311 companies. The Financial Statements were approved by the Board on 9th December 2025 and signed on its behalf by: Therese Prince Farzana Alam Chair Trustee - Finance Lead The notes on pages 22 to 32 form part of these financial statements. 20of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) STATEMENT OF CASH FLOWS AS AT 31MARCH 2025 Note 2025 2024 GBP (£) GBP (£1 Cash flows from operating activities: Net cash provided by/lused in) operating activities 20 (316,854) {21,9561 Cash flows from investing activities: Bank deposit account interests 17,123 12,084 Net cash provided byllused In) investing activities 17,123 12,084 Change in cash in the reporting period (299.7311 19,8721 Cash and cash equivalents at the beginning of the reporting period 820,235 830,107 Cash and cash equivalents at the end of the reporting period 520,504 820,235 The notes on pages 22 to 32 form part of these financial ststementS. 21of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) I. ACCOUNTING POLICIES General information and basis of preparation Hibiscus Initiatives is a company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee 15 limited to £1 per member of the charity. The address of the registered office is given in the 'Leg31 and Administrative Information, on page 3 of this Trustees, Report and Financial Statements. The charity constitutes a public benefit entity as defined by FRS 102. The Financial Statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, The Charitie5 Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The Financial Statements are prepared on 3 going concern basis under the historical cost convention. The significant accounting policies applied in the preparation of these Financial Statements are set out below. These policies have been consistently applied to all years unless otherwise stated. Income recognition Items of income are recogni5ed in the Financial Statements when all of the following criteria are met: the charity has entitlement to the funds. any performance conditions have been met or are fully within the control of the charity. there is sufficient certainty that the receipt of the income is considered probable- and- the amount can be measured reliably. Expenditure recognition Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and that the amount can be measured reliably. Expenditure is allocated to each activity where the costs relate directly to that activity. Support costs, including governance costs. that do not relate directly to any activity are apportioned to each activity on the basis of staff time. Expenditure is included under the following headings: raising funds which comprises the costs associated with attracting voluntary donations 2nd grants charitable activities which comprises the costs associated with running the various activities, services and, projects for the charity's beneficiaries 22of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 IEngland and Wales) I. ACCOUNTING POLICIES (continued) Fixed Assets and Depreciation Tangible fixed assets costing in excess of £1,000 are capitalised and stated at cost less accumulated depreciation. Fixed assets acquired for a specific project are expensed in the year of purchase. Depreciation is provided so as to write off the cost of fixed assets at the following annual rate5: Office equipment 25% reducing balance Computer equipment 25Yo Straight line Fund accounting Unrestricted general funds are those funds which are freely available for use in furtherance of the objects of the charity. Designated funds are unrestricted funds set aside by the Trustees for particular purposes. Restricted funds are those funds which can only be used in accordance with the wishes of the donor, or which have been raised for 3 Particular purpose. Leases Operating lease rentals are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease. Pension costs The charity operates a defined contribution pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the year to which they relate, Debtors and Creditors Debtors and Creditors with no stated interest rate and receiv2ble or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of Financial Activities. 23of32
Hibiscus Charity RegIstraon No. 01104094 Company Registration No. 04533442 IEngland and Wales) 2 DONATIONS AND LEGACIES 2025 GBP (£1 2024 GBP {£) Unrestricted donations 75,310 53,775 Total donations and legacies 75,310 53,775 3 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 GBP £1 GBP (£1 Restricted grants: Barrow Cadbury Trust The Bell Foundation Esmee Fairbairn Foundation Esmee Fairbairn Foundation (Capacity Building) The Forward Trust R L Glasspool Trustee Limited John Ellerman Foundation Justice Together Lloyds Bank Foundation MAN Charitable Trust 26,312 4,042 50,000 500 57,390 loo.000 7,795 54,657 20,150 36,000 47,198 23,333 49,999 15,921 50,000 50,000 Ministry of Justice Core Ministry of Justice Services Delivery (Courts) National Lottery Fund Heritage The National Lottery Community Fund Oak Foundation Advance and Women in Prison {Pan London) Paul Hamlyn Foundation The Clothworkers Trust for London Women's Centre- National Lottery 82,599 52.778 103,713 60.858 35,370 49,131 109,648 71.040 40,883 10,000 14,750 126.281 120,798 72,461 21,597 19,543 128,459 Totsl restricted grants 731,937 981,270 24of32
Hibiscus Charity Re81Stration No. 01104094 Company Registration No. 04533442 (England and Wales) 3 INCOME FROM CHARITABLE ACTIVITIES (continued) 2025 GBP 1£) 2024 GBP 1£) Serco IPDA)- provision of dedicated welfare services Serco (SWS) provision of specialist welfare services MITIE Care and Custody Home Office 71.900 62,048 77,799 61,220 33,533 593,117 Total unrestricted contract income receivable 133,948 765,669 Other Unrestricted income 22,600 61,096 Total income from charitable activities 888,485 1,808,035 All the expenditures recognised in 2024 and 2025 were unrestricted. 4 NET INCOME / EXPENDITURE 2025 2024 GBP I£} GBP (£1 Operating surplus is ststed after charging: Auditor's fee 3,000 3,000 5 COST OF RAISING FUNDS 2025 GBP 1£) 49.639 2024 GBP (£1 21,287 Direct Costs 49,639 Support costs Fundraising activities All the expenditure recognised in 2024 and 2025 was unrestricted and for support costs. 25of32
Charity Registration No. 01104094 Company Registration No. 04533442 (England and Walesl 6 COST OF CHARITABLE ACTIVITIES Direct costs Support costs 2025 GBP (£1 2024 GBP 1£) Support and advocacy to migrants affected by the criminal justice and immigration systems £1,145,520 £192,638 £1,338,158 £1,793,895 Of the £1,793,895 expenditure recognised in 2024, £1,013.943 was charged to restricted funds and £779,952 was charged to unrestricted fund5. 7 ANALYSIS OF DIRECT COSTS Raising Funds Charitable Activi 2025 GBP 1£) 2024 GBP (£) Wages and salaries and subcontractor costs Staff travel UK Staff training and conferences Overseas resettlement and travel External consultancy Recruitment Other direct costs 49.639 927,152 11,457 20,099 976,791 11,457 20,099 1,164,683 52,063 60,909 33,421 125,331 34,897 130.183 31,438 19,062 136,312 31,438 19,062 136,312 49,639 1.145,520 1,195,159 1,601,487 8 ANALYSIS OF SUPPORT COSTS Raising Funds Charitable Activi 2025 GBP (£1 2024 GBP 1£) Off ice cost Premises Costs Governance cost (note 91 111,118 77,724 3,797 111,118 77,724 3,797 105,134 105,229 3,332 192,639 192,639 213,695 26of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533H2 IEngiand and Walesl 9 GOVERNANCE COSTS 2025 GBP (£1 20241 GBP (£1 3,000 214 118 Audit fees AGM/Annual review Trustee training/membership 765 32 3,797 3,332 10 TRUSTEE AND BOARD MEMBER EXPENSES During the year there were no payments made to Trustees in respect of expenses12024: nill. 11 STAFF COSTS Total staff wages for the year excluding national insurance & pension were £862,24912024: £958.8961. Total social security costs for the year were £78,315 (2024: £88,902). The average number of employees during the yearwas 2712024: 31). The totsl employment benefits received by key management was £269,544 {2024,. £227.792). There was l employee with emoluments excess of £60,0(K) (2024: none). No employee received monies by way of compensation for termination of employment12024: none). One Trusteelmember of the Board received travel expenses reimbursement12024- nil). The charity operates a defined contribution pension scheme. Contributions during the year were £36,22712024: £34,009). Under FRS 102, employee benefits include gross salary. benefits in kind. employer's national insurance and employer pension costs 12 DEBTORS 2025 GBP (£1 10,223 33,419 18,517 6,860 69,019 2024 GBP (£1 7,755 209,998 12,914 20,388 251,055 other debtors Trade debtors Pre-payments Accrual income 27of32
Hibiscus Charity Registration No. 01104094 Company Re8Sstration No. 04533442 IEng13nd and Wales) 13 CASH AT BANK GBP (£ 105.491 411,764 3,249 520,504 GBP <£1 122,024 683,735 14,476 820,235 Bank- current account Bank- deposit account Cash in hand 14 CREDITORS: AMOUNTS FALLING DUE WITHINONE YEAR 2025 20241 GBP (£1 GBP (£1 14.644 26,410 3,650 7,400 59,163 118,534 Trade creditors Sundry creditors and accruals Deferred income 77,457 152,344 Deferred income analysis 2025 GBP (£1 118,534 59,163 (118,5341 59,163 2024 GBP (£1 267,511 118,534 1267,511) 118,534 Deferred income brought forward Additions during the year Amount released to income Deferred income carried forward Deferred income of £59,16312024: £118,534) included above relating to grant income received during the year but relating to future accounting period. 15 OPERATING LEASE COMMITMENTS The following funds have been set aside out of general funds by the Trustees: 2025 GBP (£1 2024 GBP (£} Due within: One year One to five years 23,739 26,052 23,739 26,052 At 31 March 2025 the company had annual commitments of £23,739 (2024: £26,052) for rent of premises under non-cancellable oper2ting leases which expire in July 2028 (notice period 6 months). 28of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 IEn8land and Wales) 16 RESTRICTED FUNDS The funds of the charity include restricted funds comprising the following unexpended balances of grants held on trusts to be applied to specific purposes: Transfer between funds Balance at 01-Apr-24 GBP Balance at 31-Mar-25 At 31 March 2025 Income Expenditure GBP GBP{£ GBP GBP Barrow Cadbury Trust The Bell Foundation Esmee Fairbairn Foundation Esmee Fairbairn Foundation (Capacityl R L Glasspool Trustee Limited John Ellerman Foundation Justice Together MAN Charitable Trust Ministry of Justice Core Ministry of Justice Service (Courts) Oak Foundation Paul Hamlyn Foundation Trust for London Advance Charity and Women in Prison Nation31 Lottery Community Fund- Women's Centre 26.312 4,042 50.000 26,312 4,042 49,978 4.500 16,413 38,813 47,198 50,000 82,388 58,779 119.548 20,110 28.984 {221 4,500 20,150 36,000 47,198 50,000 82,599 52,778 120,798 21.597 19.543 3,737 2,811 1210) 6,001 1,250 (1,4871 9,441 59 72,461 72,520 128,459 128,459 21,093 731,937 748,044 4.987 Full details of the purposes of these funds are in the Trustees report under the Financial Review section. 29of32
Hibiscus Charity Re8lStratfon No. 01104094 Company Registration No. 04533442 IEn8land and Wales) Ilmlllllllwlll Transfer Balance at 01-Apr-23 GBP 1£ between funds Balanee at 31-Mar-24 At 31 March 2024 Income Expenditure GBP GBP GBP GBP Barrow Cadbury Trust The Bell Foundation Esmee Fairbairn Foundation Esmee Fairbairn Foundation (Capacity) The Forward Trust 5,897 3.308 20,397 500 6,397 60,698 120,419 3,295 61,326 20,522 57,281 15,921 50,000 103,923 54.857 37,353 49,131 109,648 42.370 10,000 5.309 57,390 100,000 7,795 54,657 23,333 49,999 15,921 50,000 103,713 60,858 35,370 49,131 109,648 40,883 10,000 14.750 122) 4,500 6,669 John Ellerman Foundation Justice Together Lloyds Bank Foundation MAN Charitable Trust 2,811 7,282 Ministry of Justice Core Ministry of Justice Service (Courts) National Lottery Heritage Fund National Lottery Community Fund Oak Foundation 1210) 6,001 1,983 Paul Hamlyn Foundation The Clothworkers Trust for London Advance Charity and Women in Prison National Lottery Community Fund- Women's Centre (1,4871 9.441 71,040 70.981 59 8,230 126,282 134,512 53,766 981,270 1,013,943 21,093 30of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wales) 17 UNRESTRICTED FUNDS As at 31st March 2025: Balance at 01-Apr-24 GBP £1 Transfer between funds Balance at 31-Mar-25 Income Expenditure GBP 1£) GBP GBP GBP £1 Gener31 funds Designated funds 675.853 222,000 897,853 248,981 639,754 27,048 (27,048) 312,128 194.952 Unrestricted funds 248,981 639,754 507,080 As at 315t March 2024: Balance at 01-Apr-23 GBP I£} Transfer between funds Balance at 31-Mar-24 Income Expenditure GBP GBPI£I GBP 1£) GBP General funds Designated funds Unrestricted funds 603,083 203,385 806.468 892,624 801,239 {18,615J 18,615 675,853 222,000 897,853 892,624 801,239 18 DESIGNATED FUNDS The following funds have been set aside out of general funds by the Trustee5: 2025 GBP IÉ) 222,000 (27,0481 194,952 2024 GBP (£1 177,000 45,000 222,000 Contractual obligations and wind-down costs Exceptional costs 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS A5 at 31" March 2025: Unrestricted funds GBP 1£ 584.535 177,457) 507.078 Restricted funds GBP 1£ 4,988 Total GBP 1£) 589,523 (77,4571 512,066 Current 3ssets Current liabilities As at 31 March 2025 4,988 31of32
Hibiscus Charity Registration No. 01104094 Company Registration No. 04533442 (England and Wale51 As at 31" March 2024: Unrestricted funds GBP 1£) 1,050,197 1152,344) 897,853 Restricted funds GBP 1£) 21,093 Totsl GBP {£} 1,071.290 {152,344) 918,946 Current assets Current liabilities A5 at 31 March 2024 21,093 20 NOTES TO THE STATEMENT OF CASH FLOWS 2025 GBP (£1 2024 GBP (£1 Reconciliation net income/lexpenditure)to net cash flow from operating activities Net incomellexpenditure) for the reporting period las per statement of financial activity) Adjustments for: Bank deposit account interest Ilncreaselldecrease in debtors (Decreasel/increase in creditors (406,8791 58,711 {17,12311 182,035 {74,8871) {12.084) 97,011 (165,595) Net cash provided by/{used in) operating activities 1316,854} 121,956) 21 CONTINGENT ASSETS Total grant funding awarded as at 31 March 2025 but not yet received and recognised as income due to the recognition criteria not being met amounts to £1,119,002 32of32