COMPANY REGISTRATION NUMBER: 05425527 CHARITY REGISTRATION NUMBER: 1110403
Canaan Project Company Limited by Guarantee
Unaudited Financial Statements
31 August 2025
JONES & GRAHAM ACCOUNTANTS LTD
Chartered Certified Accountants
6 Hall Square DENBIGH Denbighshire LL16 3NU
Canaan Project
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 5 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
Canaan Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 August 2025.
Introduction
The Trustees present their annual report and financial statements for the year ended 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's constitution, the Companies Act 2006 and "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)".
Reference and administrative details
| Registered charity name | Canaan Project | |
|---|---|---|
| Charity registration number | 1110403 | |
| Company registration number | 05425527 | |
| Principal office and registered | Lansbury Lodge | |
| office | 117 Ricardo Street | |
| London | ||
| E14 6EQ | ||
| The trustees | ||
| Hannah Genn | ||
| Danielle Goodwin | (Resigned 1 July 2025) | |
| Naznin Robinson | (Resigned 20 March 2025) | |
| Barbara Workman | ||
| Lauren Gosling | ||
| Tsitsi Chirozva | ||
| Jemma Mayler | ||
| Hannah Pilkington | ||
| Independent examiner | Jones & Graham Accountants Ltd | |
| 6 Hall Square | ||
| DENBIGH | ||
| Denbighshire | ||
| LL16 3NU |
1
Canaan Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2025
Structure, governance and management
The charity is overseen by the trustees, with seven paid members of staff and the essential help of volunteer workers in Tower Hamlets.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Objectives and activities
The Charity's objectives are to promote the provision of recreational facilities and education in life skills. The policies adopted in furtherance of these objectives are the provision of activities for vulnerable children and young people, and there has been no change in these during the year.
The Project's aims are to work collaboratively with underrepresented girls and young women in Tower Hamlets to see them flourish, have broadened horizons and raised aspirations, by providing experiences and opportunities through innovative approaches to youth work.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
2
Canaan Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2025
Achievements and performance
Between September 2024 and August 2025 we worked with a total of 251 young women across all of our provision. We worked across two schools and facilitated a weekly after-school club at St Andrews Wharf Youth Hub. We also mentored 43 young women through one to one and group sessions during this period and have increased engagement with our steering committee. Our programme continues to be busy and our team engages with an average 70- 90 young women each week. We are proud of the support we have been able to offer to young women in the local community this year.
Clubs:
George Greens School
We ran a regular drop-in lunch club for girls in years 7-9 once a week in term time. We saw an average of 37 girls per session, with some sessions hosting up to 60 girls. We also ran our empowerment course for young women in year 7 and year 8 for the first time as part of their enrichment programme. We ran two courses throughout the year for a total of 61 different young women.
Canary Wharf College
We run two drop-in lunch clubs for girls in all years during term time, seeing an average of between 30 and 40 young women at each session and 55 different young women in total. Across both lunch clubs 97% of young women reported feeling welcomed, 97% reported feeling safe and 88% reported having tried new things, 95% said that they had met new people.
After School Club
After School Club runs weekly for two hours at St Andrews Wharf Youth Hub. We saw a total of 52 different young women over the year with numbers up to 30 young women attending each week. We finished the year with our Summer Party on the 17th July where all of the girls and their families were invited to celebrate our achievements for the year.
Mentoring:
We mentored 5 young women this year, taking referrals from two schools and supporting a young woman in college.
Trips/Residentials:
We ran 10 successful trips this year attended by 43 different young women. In keeping with our aim to broaden young women's horizons we took young women on a variety of trips including a graffiti workshop, visiting Wonderland ceramics, Go ape- high ropes, Rollernation and a trip to see The Lion, Witch and Wardrobe at the theatre. We were unable to facilitate a residential this year but will be endeavouring to offering one next year.
Staff
Our Director Tessa Elbourne left us after 12 years service and we recruited Lian Jacobs as our new Director in January 2025. Delaney Candland, a previous Master's placement student joined us as our new; Senior Young Women's worker in February 2025. Our sessional youth worker Anneliese Rowland who is supporting specific work within George Green and afterschool club left us in August 2025. Throughout these transitions the staff worked incredibly hard to ensure that the offer to the Young women was maintained. Whilst we were sorry to see Tessa leave we are really excited about the opportunity and direction that Lian is leading on.
3
Canaan Project
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2025
Financial review
The income and expenditure of the charity for the year and its financial position at the end of the year are shown in the attached accounts. The Trustees consider the financial position to be satisfactory and are grateful for the work put in by Barbara Workman as honorary treasurer and Steve Willcox as finance administrator during the period. We have added financial support from our new Trustee Jemma Mayler who will support our financial governance alongside Barbara and Steve.
We would like to thank our funders and volunteers who have supported us so generously during the period. With deep gratitude we would like to thank: Awards for all, Mayors Community Grant Fund, Birdsong Foundation, Jack Petchey, East End Community Foundation, Garfield Weston, Three Oaks, Wakefield & Tetley Trust, Tower Hamlets Small Grants programme, City Bridge and our regular givers. Lastly we would like to thank those who ran the London Landmark Half Marathon on our behalf, we are so grateful for your efforts, energy and funds raised.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and nine months' expenditure. 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 current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. This includes the safeguarding of vulnerable young people.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
10/04/2026 The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Hannah Genn
Hannah Genn Trustee
4
Canaan Project
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Canaan Project
Year ended 31 August 2025
I report to the trustees on my examination of the financial statements of Canaan Project ('the charity') for the year ended 31 August 2025.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 charity’s accounts as 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
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:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements 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.
Jones & Graham Accountants Ltd Independent Examiner
6 Hall Square DENBIGH Denbighshire LL16 3NU
5
Canaan Project
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2025
| Year ended 31 August 2025 | |||||
|---|---|---|---|---|---|
| 2025 | 2024 | ||||
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 17,691 | – | 17,691 | 24,452 |
| Earned income for charitable activities | 6 |
3,935 | – | 3,935 | 1,770 |
| Investment income | 7 | 1,643 | – | 1,643 | 1,093 |
| Grant income received | 8 | 29,104 | 126,562 | 155,666 | 116,836 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 52,373 | 126,562 | 178,935 | 144,151 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | 449 | 437 | 885 | – |
| Expenditure on charitable activities | 10,11 | 25,621 | 120,475 | 146,097 | 141,496 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 26,070 | 120,912 | 146,982 | 141,496 | |
| ============================ | ================================ | ================================ | ================================ | ||
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income | 26,303 | 5,650 | 31,953 | 2,655 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Transfers between funds | 400 | (400) | – | – | |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net movement in funds | 26,703 | 5,250 | 31,953 | 2,655 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 76,322 | – | 76,322 | 73,667 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 103,025 | 5,250 | 108,275 | 76,322 | |
| ================================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 15 form part of these financial statements.
6
Canaan Project
Company Limited by Guarantee
Statement of Financial Position
31 August 2025
| Canaan Project Company Limited by Guarantee Statement of Financial Position 31 August 2025 |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| Note | £ | £ | |
| Current assets | |||
| Debtors | 17 | 4,787 | 3,317 |
| Cash at bank and in hand | 120,439 | 131,343 | |
| -------------------------------- | -------------------------------- | ||
| 125,226 | 134,660 | ||
| Creditors: amounts falling due within one year | 18 | 16,951 | 58,338 |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 108,275 | 76,322 | |
| -------------------------------- | ---------------------------- | ||
| Total assets less current liabilities | 108,275 | 76,322 | |
| -------------------------------- | ---------------------------- | ||
| Net assets | 108,275 | 76,322 | |
| ================================ | ============================ | ||
| Funds of the charity | |||
| Restricted funds | 5,250 | – | |
| Unrestricted funds | 103,025 | 76,322 | |
| -------------------------------- | ---------------------------- | ||
| Total charity funds | 21 | 108,275 ================================ |
76,322 ============================ |
For the year ending 31 August 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 10/04/2026........................, and are signed on behalf of the board by:
Hannah Genn
Hannah Genn Trustee
The notes on pages 8 to 15 form part of these financial statements.
7
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Lansbury Lodge, 117 Ricardo Street, London, E14 6EQ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
8
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
9
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Fixtures and fittings | - | 25% straight line |
|---|---|---|
| Equipment | - | 25% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Defined contribution plans
Payments to defined contribution retirement schemes are charged as an expense as they fall due.
10
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
4. Limited by guarantee
The charity is a company limited by guarantee. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Hannah Genn Barbara Workman Tsitsi Chirozva Lauren Gosling Hannah Pilkington Jemma Mayler
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. New trustees are appointed with the agreement of the existing trustees.
5. Donations and legacies
| Donations and legacies | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Donations | ||||
| Three Oaks | 8,500 | 8,500 | 17,000 | 17,000 |
| Other donations and gifts | 9,191 | 9,191 | 7,452 | 7,452 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 17,691 | 17,691 | 24,452 | 24,452 | |
| ============================ | ============================ | ============================ | ============================ |
6. Earned income for charitable activities
| Earned income for charitable | activities | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Unrestricted | Restricted | |
| 31 Aug 25 | 31 Aug 25 | 31 Aug 24 | 31 Aug 24 | |
| £ | £ | £ | £ | |
| Canary Wharf College | 960 | 240 | ||
| George Green School | 2,975 | 1,530 | ||
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| Total | 3,935 | 1,770 | ||
| ============================ | ============================ | ============================ | ============================ |
7. Investment income
| Investment income | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| £ | £ | £ | £ | |
| Other interest receivable | 1,643 | 1,643 | 1,093 | 1,093 |
| ======================= | ======================= | ======================= | ======================= |
11
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
8. Grant income received
| 8. | Grant income received | Grant income received | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Unrestricted | Restricted | ||
| 31 | Aug 25 | 31 Aug 25 | 31 Aug 24 | 31 Aug 24 | |
| £ | £ | £ | £ | ||
| LB Tower Hamlets Grant | |||||
| Programmes | 38,750 | 2,401 | 29,180 | ||
| Garfield Weston | 3,334 | 6,666 | |||
| Community Fund / Awards for All | 10,000 | 10,000 | |||
| East End Community Foundation | 13,000 | 10,000 | |||
| City Bridge Trust | 47,612 | 47,612 | |||
| Bird Song | 25,770 | 10,000 | |||
| Wakefield & Tetley | 6,000 | ||||
| Jack Petchey | 1,200 | ||||
| Co-op Community Fund | 1,031 | ||||
| Comic Relief | 9,946 | ||||
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| Total | 29,104 | 126,562 | 20,098 | 96,739 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 9. | Costs of raising donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2025 | |||
| £ | £ | £ | |||
| Fundraising and promotion | 449 | 437 | 885 | ||
| ============== | ============== | ============== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Fundraising and promotion | – | – | – | ||
| ============== | ============== | ============== | |||
| 10. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2025 | |||
| £ | £ | £ | |||
| Youth activities | 20,460 | 104,200 | 124,660 | ||
| Support costs | 5,161 | 16,275 | 21,437 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 25,621 | 120,475 | 146,097 | |||
| ============================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Youth activities | 35,645 | 85,144 | 120,789 | ||
| Support costs | 9,113 | 11,595 | 20,707 | ||
| ---------------------------- | ---------------------------- | -------------------------------- | |||
| 44,758 | 96,739 | 141,496 | |||
| ============================ | ============================ | ================================ |
12
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
11. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total funds | Total fund | |
| directly | costs | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Youth activities | 124,660 | 19,453 | 144,113 | 139,472 |
| Governance costs | – | 1,984 | 1,984 | 2,024 |
| -------------------------------- | ---------------------------- | -------------------------------- | -------------------------------- | |
| 124,660 | 21,437 | 146,097 | 141,496 | |
| ================================ | ============================ | ================================ | ================================ |
12. Analysis of support costs
| Analysis of support costs | |||
|---|---|---|---|
| Youth | |||
| activities | Total 2025 | Total 2024 | |
| £ | £ | £ | |
| Governance costs | 1,983 | 1,983 | 2,025 |
| Staff costs | 7,110 | 7,110 | 6,871 |
| Depreciation | – | – | 200 |
| Premises and equipment costs | 7,519 | 7,519 | 7,962 |
| Administrative costs | 4,825 | 4,825 | 3,650 |
| ---------------------------- | ---------------------------- | ---------------------------- | |
| 21,437 | 21,437 | 20,708 | |
| ============================ | ============================ | ============================ |
13. Net income
Net income is stated after charging/(crediting):
Depreciation of tangible fixed assets
| 2025 | 2024 |
|---|---|
| £ | £ |
| – | 200 |
| ============== | ============== |
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 101,009 | 96,147 |
| Employer contributions to pension plans | 4,954 | 5,742 |
| -------------------------------- | -------------------------------- | |
| 105,963 | 101,889 | |
| ================================ | ================================ |
The average head count of employees during the year was Nil (2024: 6).
No employee received employee benefits of more than £60,000 during the year (2024: Nil).
15. Trustee remuneration and expenses
None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the year.
13
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
16. Tangible fixed assets
| 16. | Tangible fixed assets | |||
|---|---|---|---|---|
| Fixtures and | ||||
| fittings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 Sep 2024 and 31 Aug 2025 | 401 | 4,515 | 4,916 | |
| ============== | ======================= | ======================= | ||
| Depreciation | ||||
| At 1 Sep 2024 and 31 Aug 2025 | 401 | 4,515 | 4,916 | |
| ============== | ======================= | ======================= | ||
| Carrying amount | ||||
| At 31 Aug 2025 | – | – | – | |
| ============== | ======================= | ======================= | ||
| At 31 Aug 2024 | – | – | – | |
| ============== | ======================= | ======================= | ||
| 17. | Debtors | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade debtors | 4,105 | 1,496 | ||
| Prepayments and accrued income | 682 | 1,821 | ||
| ----------------------- | ----------------------- | |||
| 4,787 | 3,317 | |||
| ======================= | ======================= | |||
| 18. | Creditors: amounts falling due within one year | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade creditors | 36 | 117 | ||
| Accruals and deferred income | 14,005 | 56,538 | ||
| Social security and other taxes | 1,665 | 892 | ||
| Other creditors | 389 | 635 | ||
| Company credit card | 856 | 156 | ||
| ---------------------------- | ---------------------------- | |||
| 16,951 | 58,338 | |||
| ============================ | ============================ | |||
| 19. | Deferred income | |||
| 2025 | 2024 | |||
| £ | £ | |||
| At 1 September 2024 | 54,187 | 35,874 | ||
| Amount released to income | (54,187) | (35,874) | ||
| Amount deferred in year | 12,083 | 54,187 | ||
| ---------------------------- | ---------------------------- | |||
| At 31 August 2025 | 12,083 | 54,187 | ||
| ============================ | ============================ |
14
Canaan Project
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,954 (2024: £5,742).
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 Sep 2024 | Income | Expenditure | Transfers | 31 Aug 2025 | |
| £ | £ | £ | £ | £ | |
| General funds | 76,322 | 52,373 | (26,070) | 400 | 103,025 |
| ============================ | ============================ | ============================ | ============== | ================================ | |
| At | At | ||||
| 1 Sep 2023 | Income | Expenditure | Transfers | 31 Aug 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 73,667 | 47,413 | (44,758) | – | 76,322 |
| ============================ | ============================ | ============================ | ============== | ============================ | |
| Restricted funds | |||||
| At | At | ||||
| 1 Sep 2024 | Income | Expenditure | Transfers | 31 Aug 2025 | |
| £ | £ | £ | £ | £ | |
| Youth workers | – | 88,852 | (86,702) | (400) | 1,750 |
| Other direct project costs | – | 24,315 | (20,815) | – | 3,500 |
| Overheads | – | 13,395 | (13,395) | – | – |
| -------------- | -------------------------------- | -------------------------------- | -------------- | ----------------------- | |
| – | 126,562 | (120,912) | (400) | 5,250 |
|
| ============== | ================================ | ================================ | ============== | ======================= | |
| At | At | ||||
| 1 Sep 2023 | Income | Expenditure | Transfers | 31 Aug 2024 | |
| £ | £ | £ | £ | £ | |
| Youth workers | – | 81,473 | (81,473) | – | – |
| Other direct project costs | – | 10,542 | (10,542) | – | – |
| Overheads | – | 4,724 | (4,724) | – | – |
| -------------- | ---------------------------- | ---------------------------- | -------------- | -------------- | |
| – | 96,739 | (96,739) | – | – | |
| ============== | ============================ | ============================ | ============== | ============== |
15
Canaan Project 2025
Final Audit Report
2026-04-16
Created: 2026-04-10 By: Emyr Jones (office@jonesandgraham.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAbUHBp32ZzmmWFnpEvkWdoacqDrIhHNrs
"Canaan Project 2025" History
Document created by Emyr Jones (office@jonesandgraham.co.uk) 2026-04-10 - 8:22:37 AM GMT
Document emailed to Hannah Genn (hannahgenntrustee@canaanproject.co.uk) for signature 2026-04-10 - 8:22:42 AM GMT
Document emailed to Emyr Jones (emyr.jones@jonesandgraham.co.uk) for signature 2026-04-10 - 8:22:42 AM GMT
Email viewed by Hannah Genn (hannahgenntrustee@canaanproject.co.uk) 2026-04-10 - 9:18:02 AM GMT
Document e-signed by Hannah Genn (hannahgenntrustee@canaanproject.co.uk) Signature Date: 2026-04-10 - 9:19:08 AM GMT - Time Source: server
Email viewed by Emyr Jones (emyr.jones@jonesandgraham.co.uk) 2026-04-16 - 11:04:16 AM GMT
Document e-signed by Emyr Jones (emyr.jones@jonesandgraham.co.uk)
Signature Date: 2026-04-16 - 11:05:15 AM GMT - Time Source: server- Signature captured from device with phone number XXXXXXXX6113
Agreement completed. 2026-04-16 - 11:05:15 AM GMT