2023-08-31-accounts

Charity registration number 1112621

Company registration number 05608022 (England and Wales)

ARTICLE 25

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

ARTICLE 25

LEGAL AND ADMINISTRATIVE INFORMATION

Chief Executive	G Holding
Director of Projects	B Sennewald
Trustees	D Bennetts (Chair)
	P Clark	(Appointed 25 October 2023)
	D J R Delahunty
	G Grainger
	P Hudson
	N Thingelstad
Patron	Lord Foster ofThames Bank
Charity number	1112621
Company number	05608022
Principal address	6th Floor
	1 Canada Square
	London
	United Kingdom
	E14 5AB
Registered office	6th Floor
	1 Canada Square
	London
	United Kingdom
	E14 5AB
Auditor	AzetsAudit Services
	Westpoint
	Lynch Wood
	Peterborough
	Cambridgeshire
	United Kingdom
	PE2 6FZ
Bankers	The Cooperative Bank plc
	Central Commercial Branch
	PO Box 250
	Skelmersdale
	WN8 6WT
	Bank of Scotland Pic
	PO Box 1000
	United Kingdom
	BX21LB

ARTICLE 25

CONTENTS

	Page
Trustees’ report	1-9
Statement of trustees’ responsibilities	10
Independent auditor's report	11-13
Statement of financial activities	14-15
Balance sheet	16
Statement ofcash flows	17
Notestothefinancialstatements	18-28

ARTICLE 25

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2023

The trustees present their annual report and financial statements for the year ended 31 August 2023.

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 charitable company's governing document, 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).

Chair's Introduction

Article 25 supports and empowers communities around the world to design and build housing, schools and medical facilities, enabling local development, alleviating poverty, and improving equality of access to a safe place to live, education, and healthcare. We also often help to rebuild lives and livelihoods in the wake of disasters and conflicts. By working closely with local people, we develop an acute understanding of prevailing conditions, capacity and resources. Using the best principles of architecture and engineering we design resilient, functional, beautiful and safe places for housing, education and healthcare. Working on the ground alongside these communities, we supervise construction; and through training support we exchange knowledge and skills with people to build greater capacity within that community. The end result is never just a building that serves to increase access to safe housing, learning, and better health, it is also the legacy of a community with greater resilience and more opportunities to enjoy a thriving future. In 18 years, Article 25 has carried out over 100 projects in 36 countries.

In this financial year we completed the first phase of a Children’s Village in Boma n’Gombe, Tanzania and have started on Phase 2. We broke ground on a clinic in Marrakesh, Morocco for pre- and post-operative care of children born with cleft lip and cleft palate. We are in construction on the refurbishment of a hospital floor in Casablanca with new operating theatres which will be used for cleft lip and cleft palate operations by Operation Smile Morocco. We also completed a feasibility study for a major expansion of a hospital in western Nepal for the United Mission of Nepal and a further study to rebuild of a hospital in northern Ghana for the charity AfriKids. In Rwanda we secured initial funding for a cheesemaking dairy for a farmers’ cooperative and have begun design of the first phase.

We continued to work on a four-year programme of design and construction supervision for the Housing Recovery Programme of the island of Dominica. The programme is planned to replace approximately 450 houses lost in Hurricane Maria, with disaster resilient construction. 262 houses were completed in 2022/23.

We are continuing to work in close partnership with Child Support Tanzania have now completed four phases of construction. The first two phases of construction are also complete at a school in Niamey, Niger.

The design work for a community hospital on the island of Montserrat is nowin its final stages and expected to be complete by the end of the year. This hospital will replace one destroyed in a volcanic eruption in 1997. A Trauma Centre in Nepal for the Leprosy Mission is nearing construction completion. At the same we are designing a new clinical and research laboratory adjacent to the hospital.

On behalf of the Trustees, | want to thank most warmly our hard-working staff and volunteer team, our partners in the many countries where we work, our professional collaborators who help us to deliver these projects and, of course, our donors and supporters both small and large, who help to build and maintain our charity so that it is as resilient as the buildings we create and the communities we support across the world.

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ARTICLE 25

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

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Objectives and Activities For The Public Benefit

Objectives and activities The trustees have considered the guidance published by the Charity Commission and have concluded that the charitable company’s core activities satisfactorily address the principles of identifiable public benefit and demonstrate that the charitable company has fulfilled the public benefit requirement under the Charities Act 2011.

Article 25 provides building design solutions and key construction project management skills to the International Development community. Focusing on the core areas of buildings for housing, learning, health, and where appropriate, resilience to disasters, we aim to apply these skills where they make the greatest beneficial difference to the most disadvantaged communities. We continue to deliver these objectives through close collaborations with NGOs and community groups internationally.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

The description under the headings "Achievements and performance" and “Financial review" meet the company law requirements for the trustees to present a strategic report.

Achievements and performance

Article 25 continues to deliver essential design and construction skills to those who would otherwise have no access to such services. We work with partners across the built environment sector to provide engineering and cost management skills to benefit some of the poorest and most disadvantaged communities in the world.

Throughout our work, capacity development remains a constant priority. Our construction projects are used to develop the skills of workers in the communities of our local partners and to increase long-term resilience, leaving behind a community better able to build safely for itself. We improve the long-term performance of a project by engaging the end-users from inception to completion. This positively affects the sustainability of a project and builds the capacity of those local partners who take responsibility for the project and its sustainable operation.

Article 25 is one of the few organisations globally delivering this technical work as a primary objective and from a small base of operations. Our projects have a positive impact on hundreds of thousands of beneficiaries over time.

Article 25 safeguards the effectiveness of its work through maintaining high professional standards and by monitoring outputs. We examine the long-term sustainability of each project to ensure a lasting impact is achieved.

Financial review

It is the policy of the charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s 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 charitable company’s 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.

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ARTICLE 25

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Structure, governance and management

Governing document

The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The Articles of Association were updated by Trustee Natalie Thingelstad and finalised in early 2022/23.

Recruitment and appointment of new trustees

The existing Trustees appoint trustees. Their terms and responsibilities are outlined in a trustee recruitment policy that was implemented in 2016. Trustees of the charity are also Directors of the Limited Company. We apply a rotation of Directors and as per our Articles of Association; one third of the Directors must retire each year but may be re-elected.

No trustees resigned or were appointed during 2022-23, however there have been changes since the year end, including the sad death of Mark Astarita. We intend to make further appointments, seeking to further diversify the skills and expertise we have access to at board level.

Organisational aims

Article 25 was founded originally under the name Architects for Aid and was set up to provide better housing for those in need and to work with partner NGOs to provide built solutions wherever there is disaster, poverty or need. Renamed Article 25 in 2009, the charity aims to promote safe housing, access to education, and healthcare as a human right, and is named after the 25th Article of the Universal Declaration of Human Rights, which is the article of the declaration relating to the built environment.

Organisational structure

Our organisational structure comprises a Board of Trustees, a Senior Management Team led by the Chief Executive who reports to the Board, the Staff and Volunteers. The team of staff and volunteers is organised into projects and charity management (including fundraising and communications), headed by the Director of Projects and Chief Executive respectively.

M Astarita

(Deceased 26 April 2024)

D Bennetts (Chair) M J Catton (Resigned 17 April 2024) P Clark (Appointed 25 October 2023) D JR Delahunty G Grainger P Hudson JB Pringle (Resigned 17 April 2024) N Thingelstad

Related parties

Article 25 works with partner NGOs, INGOs, charities, development agencies and governments in the UK and overseas. Article 25 receives the donation of skills from various professional parties who assist in the delivery of our projects.

Article 25 introduces capacity building in architecture, engineering and construction to international development projects. The organisation also provides continuing education to professional firms and larger agencies as a way of increasing the impact of its work.

Risk management

All Article 25 projects and operations are assessed for their potential risks in delivery before significant charity resources are dedicated to the project. A risk register is maintained by the Chief Executive and Director of Projects and is presented for approval at the quarterly trustee board meetings.

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ARTICLE 25 TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 a The charity also liaises with local and international bodies (for example the High Commission or Embassy departments as appropriate) when undertaking the management of work overseas and dealing with any issues of controversy or potential controversy when working alone, or with any collaborating entity. Article 25 operates a safeguarding policy.

Overseas project travel is assessed for risks ahead of each field trip. If necessary, staff and volunteers undergo any required hostile environment and first aid briefings prior to going abroad. All travelers are covered under an Article 25 insurance policy, specifically provided for NGO workers; they are briefed on pertinent local social issues and are instructed to carry emergency contact details. Each location is researched in advance and advice sought from FCDO and in-country sources, particularly from our local partners who have detailed knowledge of conditions in the field. Our legal advisors have advised that we have, through the training and documentation we use, achieved effective limitation for our liability regarding risks in sending participants on overseas projects and that they have sufficient information to meet standards of "informed consent" to participate as staff or volunteers for Article 25.

Article 25 also has public liability and professional indemnity insurance to offset any risk incurred in the course of conducting our work at home and overseas.

Construction Projects

Housing

Dominica

This is a disaster recovery programme to replace 450 houses lost across the island of Dominica in Hurricane Maria. Rather than building blocks of flats for the families made homeless, each family can apply for a house to be built on their own land, maintaining their ability to farm and to keep their neighbours and local community. Families can choose one of six model houses that will be adapted to the access and slopes of the site and built by a small contractor. As each house has its own timelines, the overall project is a “rolling” programme with various stages of design and construction occurring simultaneously. 407 planning applications have been submitted and 331 have been approved, 330 tenders have been awarded. Families have moved into 262 completed houses.

Tanzania

We have completed construction of the first phase of a Children’s Village for orphaned children in northern Tanzania, Phase 2 construction started in April 2023. Our partner charity Tir na n’'Og received additional funding for the development of food security on the adjacent farm which will be integrated into the next phase of the project. We have a Tanzanian team of an architect and an engineering firm to advise during construction and our Tanzanian site architect will continue to supervise works through Phase 2.

Education

Niger Phases 1 and 2 of College Amadou Hampaté Ba were completed in 2022-23. The first four classrooms, two latrine blocks and the Guard’s house had been handed over to the client for the start of the school year in October 2021. The sports fields, water tower and other infrastructure works are also complete. Further we completed construction on the refurbishment of four older classroom blocks and the original administration building.

Tanzania

Phase 3 of the Child Support Tanzania school project, which consists of a kitchen and a dining/assembly hall has been completed and is in use. Phase 4, a classroom and physiotherapy room have now also been completed. A grant has been received from Christian Blind Mission to construct 5 more classrooms and further developments will include comprehensive grading of the site and completion of the sanitation design.

Health

Montserrat

The final design of the new hospital is well underway as well as the refurbishment of an older building to house hospital support functions while the new building is under construction. Construction is expected to start toward the end of fiscal year in 2024.

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ARTICLE 25

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Morocco (Casablanca)

The renovation of one floor into operating theatres and neonatal and paediatric intensive care wards has been designed and construction is underway. We are working with a local Moroccan architect and Moroccan engineers on this project.

Morocco (Marrakesh)

We have completed all designs of this centre which will be used for continuing care of patients with cleft palate and cleft lip before and after surgery. Our Moroccan partner engineers have completed their work as well. A Moroccan architect based in Marrakesh has been appointed to work with Article 25 to supervise the construction.

Nepal (Lele)

The construction of the Trauma Centre at Anandaban Hospital is close to completion.

We are in the final stage of design for a laboratory, adjacent to the Trauma Centre, to serve the clinical and research needs of the Leprosy Hospital. As the site is in an active seismic zone, we invited a globally recognised structural engineering firm with strong seismic credentials to analyse the geotechnical conditions and develop the structural concepts and an international services consultancy to design the mechanical and electrical engineering concepts. Nepali engineers are now completing the structural and services designs.

Nepal (Tansen)

We have completed a Feasibility Study for the regeneration of a 200-bed hospital in Western Nepal for the United Mission Nepal. The project will be implemented over two or more phases and will provide new clinical facilities and replace older buildings constructed in the 1950’s and 1970's with earthquake resilient new buildings. This project is awaiting funding.

Ghana

We are working with the charity AfriKids to rebuild a hospital in Bolgatanga in northern Ghana. After completing a feasibility study for rebuilding the hospital, we designed the completion of a partially constructed building, including a new operating theatre and adjacent wards The design and construction of new buildings is currently awaiting funding

Community Enterprise

Rwanda

Having completed a feasibility study during the last fiscal year, we started design for a cheesemaking dairy for a farmers’ cooperative in the eastern province of Rwanda. The farmers are already selling milk from their large herds of cattle but want to add value and increase their economic potential by making and selling cheese in future. The ambition is to make this project carbon neutral. It involves a large number of partners: the farmers’ co-operative, the Rwandan Dairy Board, Blues Creamery from Ireland for expertise in cheesemaking and marketing, University College Dublin and Rwandan scientists from the Ministry of Agriculture for a cattle breeding programme and carbon neutral management of cattle.

Future Project Work

For 2023-24 we look forward to completing the second phase of the Children’s Village in northern Tanzania. Design of Phase 5 of the Pre-school for disabled and able-bodied children in Mbeya should be completed by the end of the fiscal year. The Operation Smile clinic in Marrakech should commence construction and the hospital refurbishment at Bouafi Hospital in Casablanca should be complete. We expect to be in construction on the new hospital in Montserrat. We will have completed the Trauma Centre at the Leprosy Mission hospital at Anandaban in Nepal started construction on the adjacent Research Laboratory. We also hope to start design work on the hospital project in Tansen, Nepal.

We expect to be ready to tender the dairy in Rwanda and hope to start design on the replacement hospital in Ghana.

Progress against Strategy

Article 25 adopted its new three-year strategy this year, which runs from 2023-2026. It focuses on five strategic priorities for the organisation. We are pleased to report that we have made good progress against the strategy in its first year. The results against the five strategic objectives are outlined below.

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ARTICLE 25

TRUSTEES’ REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Become the ‘go-to’ architectural organisation within the international development community for design and build projects.

How we did in 2023

¢ Better presenting ourselves and our work

During 2023, Article 25 delivered a brand refresh, and designed and launched a new website to show case what we do. The new website is stronger, more comprehensive, and better articulates what we do - and how other NGO’s can work with us.

¢ Better engagement with our NGO and International Development Colleagues

Article 25 is now a member of Bond. Bond is the UK network for over 400 organisations working in International Development.

We have joined the UN Global Alliance for Buildings and Construction the leading global platform for governments, civil society, research, and intergovernmental organisations who are committed to zero-emission, efficient and resilient buildings and construction sector.

We have also joined the Global Network in Civil Society for Disaster Reduction (GNDR); the largest international network of civil society organisations working together to strengthen the resilience of communities most at risk of disasters. The partnership will allow us to connect and collaborate with those working at all stages of disaster reduction, risk management and disaster response - opening up potential new avenues for project acquisition.

We have also applied for United Nations Consultative Status.

We look forward to working with our colleagues in this space to deliver better buildings for those who need it most across the world.

Increase the number and scale of our projects.

How we did in 2023

° Three new construction projects started.

During the year, Article 25 secured three new projects, as detailed above. This is solid progress against our goal of acquiring ten new projects over the course of the three-year strategy. The new business model we have adopted has allowed us to better allocate our limited resources to allow us to undertake more projects in the places that need them most.

Create and Measure greater impact from our projects.

How we did in 2023

* Whole Life Carbon Assessments for our buildings

We know that the buildings designed and constructed by Article 25 are exceptional and life changing, not just today — but for decades to come. We want to better capture our impact better, for both people and planet.

We are passionate about sustainability, and we are committed to a monitoring and reducing our carbon footprint.

As part of this we are undertaking a Whole Life-Cycle Carbon Assessment for the Kao La Amani Children’s Village project in Boma, northern Tanzania.

The goal of the Carbon Assessment is to understand the carbon intensity of this construction, identify where the most emissions occur in the scheme, and learn lessons to improve embodied carbon performance for future projects. The Carbon Assessment will be clear, comprehensive, auditable, and provide reliable evidence on the sustainability of architecture delivered by Article 25.

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ARTICLE 25

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

We're using One Click LCA for our calculations and creating a report with infographics for clear communication of the results. We aim to establish a template for other buildings with this initial assessment — before we roll this out across our projects.

¢ Winner Structural Awards 2023

We strive to create meaningful and lasting impact for communities around the globe, and were delighted when our project, College Amadou Hampaté Ba, was announced as the winner 2023 at the Structural Awards. The building was presented the award for ‘using sustainable local materials and enabling positive social impact’. This demonstrates the incredible efforts of our partner, MHA Structural Design — who worked on this project with us on a pro-bono basis. As ever, we would like to extend our huge thanks to MHA for working with us — this award is testament to their incredible efforts.

Generate more income to ensure the organisation is sustainable.

How we did in 2023

* Better analysis of project costings

We were pleased that in 2023 the organisation generated more income that ever before since its inception, with the income for the charity exceeding £1 million for the first time.

We achieved this by adopting a new business model, whereby Article 25 better shares the financial burden of projects with our partners, and this has helped drive crucial revenue for the charity.

¢ More Than a Building — Corporate Support

In 2023, we launched our new corporate partnership programme, More Than A Building and we have been delighted at the support we have received from our friends across the construction sector. We held the launch event at the House of Commons, and this was an excellent way to celebrate the initiative. We would like to extend our thanks to Ascot Design for co-hosting it with us and for their financial support for the event.

We are delighted that the network has got off to such a great start in its first year and intend to build on the success of More Than a Building in 2024 by continuing to increase the membership across the sector.

At the time of writing, we would like to extend a huge thank you to our More Than a Building members below some of these supporters joined post year end.

Platinum - £10,000+ Gold - £5,000+ Silver (£1,000+) Skidmore, Owings & Merrill (SOM) _ Tindall Riley Sheppard Robson WSP Bennetts Associates AHMM Canary Wharf Group Agilite Assael Gardiner and Theobald Barratt Developments Ramboll Max Fordham Ascot Design MHA Structural Design Ridge LLP Pilbrow and Partners Derwent London HTA Jackson Coles Montgomery Group Heyne Tillett Steele

Support from generous individuals

We continued to receive significant donations from individuals this year- and we would like to thank our major donors for their continued generosity towards Article 25 and our work.

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ARTICLE 25

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

10x10

Our art auction, 10 x10, was held in May 2023 and we were incredibly grateful for all those who contributed to this event. The event raised a net profit of £30,000 towards our work - and a huge thank you to the artists, buyers and volunteers who made this possible.

The Big Give

Article 25 participated in The Big Give for the first time this year and raised an incredible £51,000 against our target of £50,000.

Employ a communications strategy that better communicates our impact

How we did in 2023

In 2023 we made an investment into our communications — to ensure that the people that need to know about us, are aware of Article 25 -whether that be other NGO’s needing a building designed and delivered, potential corporate partners, or donors.

The brand refresh and new website now better communicates what we do as an organisation — how we do it, and why.

This year, we undertook extensive interviews and gathered video footage on the ground in Tanzania. This was a valuable opportunity to document our progress at two existing projects sites (The Childrens Village in Boma and Child Support Tanzania) and visit and interview a new project partner, Cheka Sana. This opportunity enabled us to document the voices of some of the most important stakeholders of our projects — the children that use them. The footage and interviews collected on this field trip and have translated into new videos for Article 25 — and these interviews have given a valuable insight into the impact of our work ‘on the ground’ and for us to share the views of people using our buildings.

In addition, we were successful in generating a number of mentions in the media during the year— further promoting our important work to a wider audience.

FINANCIAL REVIEW ; While our day-to-day operations are supported by cash accounting, accounting standards require us to recognise income and expenditure by accrual accounting within the relevant period. Besides income and expenditures this includes accounting for donations in kind and voluntary services provided by our partners. The Statement of Financial Activities shows a net deficit, on unrestricted funds, for the year of £7,156 (2022: shortfall of £24,570) and our unrestricted reserves stand at £22,939 (2022: £50,056) in total. The trustees are confident that the charity is a going concern. Further details are given in note 1.2 to the financial statements.

While our day-to-day operations are supported by cash accounting, accounting standards require us to recognise income and expenditure by accrual accounting within the relevant period. Besides income and expenditures this includes accounting for donations in kind and voluntary services provided by our partners.

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.

Reserves Policy

The charity aims to have a policy of holding 3 months payroll costs in unrestricted reserves. At 31st August 2023, our unrestricted reserves of £22,339 were significantly below the target of £100,000. The trustees are taking action to address this shortfall, with a view to increasing reserves in each of the next two financial years, to a level of approximately £100,000.

Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.

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ARTICLE 25

TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

The trustees’ report was approved by the Board of Trustees.

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ARTICLE 25

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2023 ere

The trustees, who are also the directors of Article 25 for the purpose of company law, are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern 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 statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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ARTICLE 25

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ARTICLE 25

Opinion

We have audited the financial statements of Article 25 (the ‘charitable company’) for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet, the 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 Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, for the year then ended;

• • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• • have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or

• sufficient accounting records have not been kept; or

• • the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit.

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ARTICLE 25 INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ARTICLE 25 sia

Responsibilities of trustees As explained more fully in the statement of trustees’ responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

• « Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

• • Reviewing minutes of meetings of those charged with governance; - Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
• • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

• « Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

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 in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

cn -12-

ARTICLE 25

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ARTICLE 25

Other matters which we are required to address

The financial statements of Article 25 for the year ended 31 August 2022 are unaudited.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

forTracey and on Richardson behalf of BScAzets (Hons) Audit FCA Services (Senior Statutory Auditor)

----- Start of picture text -----
Afar/
----- End of picture text -----

Chartered Accountants

Statutory Auditor

Westpoint Lynch Wood Peterborough Cambridgeshire United Kingdom PE2 6FZ

Azets Audit Services is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

a Sie

ARTICLE 25

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

nn

Currentfinancial year		Unrestricted	Unrestricted	Restricted	Total	Total
		funds	funds	funds
		general	designated
		2023	2023	2023	2023	2022
	Notes	£	£	£	£	£
Income from:
Donationsand legacies Charitable activities	3 4	278,241 265,575	- 577,109	219,568 -	497,809 842,684	353,500 399,393
Investments	5	5	-	-	5	-
Total income		543,821	577,109	219,568	1,340,498	752,893
Expenditure on: Raising funds	6	122,075	-	-	122,075	92,172
Charitable activities	7	428,902	577,109	4,204	1,010,215	685,291
Total expenditure		550,977	577,109	4,204	1,132,290	777,463
Net (expenditure)/income forthe year/ Netmovement in funds		(7,156)	-	215,364	208,208	(24,570)
Fund balances at 1 September 2022		29,495	-	20,561	50,056	74,626
Fundbalancesat31August2023		22,339	-	235,925	258,264	50,056

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

ev

-14-

ARTICLE 25

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Prior financial year

Prior financialfinancial year
		Unrestricted	Restricted	Total
		funds	funds
		2022	2022	2022
	Notes	£	£	£
Income from:
Donations and legacies	3	351,500	2,000	353,500
Charitable activities	4	399,393	-	399,393
Total income		750,893	2,000	752,893
Expenditure on:
Raising funds	6	92,172	-	92,172
Charitable activities	7	659,974	25,317	685,291
Total expenditure		752,146	25,317	777,463
Net(expenditure)/income forthe year/
Netmovement in funds		(1,253)	(23;317)	(24,570)
Fund balances at 1 September2021		30,748	43,878	74,626
Fundbalancesat31August2022		29,495	20,561	50,056

-15-

ARTICLE 25

BALANCE SHEET

AS AT 31 AUGUST 2023

				2023		2022
	Notes			£	£	£	£
Fixed assets
Tangible assets	12				-		425
		)
Current assets
Debtors	13		s.	158,164		137,055
Cash at bankand in hand				402,778		52,141
				560,942		189,196
Creditors: amounts falling due within oneyear	15			(229,344)		(86,232)
“Netcurrent assets					331,598		102,964
Total assets less current liabilities					331,598		103,389
Creditors: amounts falling due after
morethanoneyear	16				(73,334)		(93,333)
Netassets					258,264		90,056
income funds
Restricted funds Unrestricted funds	19				235,925 22,339		20,561 29,495
					258,264		50,056

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act | 2006, for the year ended 31 August 2023, although an audit has been carried out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on Rolanaly LL D Bennetts (Chair) P Clark Trustee Trustee Company registration number 05608022

~16-

ARTICLE 25

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |Notes|£|5|£|£| |Cash|flows from|operating|activities| |Cash|generated|from/(absorbed|by)|23| |operations|360,631|(140,310)| |Investing|activities| |Investment|income|received|5|-| |Net cash|generated|from/(used|in)| |investing|activities|5|-| |Financing|activities| |Repayment|of borrowings|-|55,000| |Repayment of bank|loans|(9,999)|38,333| |Net cash|(used|in)/generated from| |financing|activities|(9,999)|93,333| |Net|increase/(decrease)|in|cash|and|cash| |equivalents|350,637|(46,977)| |Cash|and|cash|equivalents|at|beginning|of year|52,141|99,118| |Cash|and|cash|equivalents|at end|of year|402,778|52,141|

----- End of picture text -----

ATs

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

• 1 Accounting policies

Charity information

Article 25 is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, 1 Canada Square, London, E14 5AB, United Kingdom.

• 1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention,. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

(B~

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

• 1 Accounting policies

(Continued)

• 1.5 Expenditure

• Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers

33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

• 1.7 Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

• 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

• 1.9 Financial instruments The charitable company 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 charitable company's balance sheet when the charitable company 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

es f om

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled. Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Employee benefits

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There were no critical accounts estimates or judgements made in the year (2022: none).

-20-

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

3 Donations and legacies

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	general			general
	2023	2023	2023	2022	2022	2022
	£	£	£	£	£	£
Donations and gifts	149,241	-	149,241	188,560	2,000	190,560
Legacies receivable	-	219,568	219,568	-	-	-
Donated goods and services	129,000	-	129,000	162,940	os	162,940
	278,241	219,568	497,809	351,500	2,000	353,500
Charitable activities
					2023	2022
					£	£
Grant income					813,328	358,196
Fundraising activities					29,356	41,197
					842,684	399,393
Analysis by fund
Unrestricted funds - general					265,575	399,393
Unrestricted funds - designated					577,109	.
					842,684	399,393
Investments
				Unrestricted		Total
					funds
					general
					2023	2022
					£	£
Interestreceivable					5	-

4 Charitable activities

5 Investments

es pe

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

6 Raising funds

		Unrestricted	Unrestricted
		funds	funds
		general	general
		2023	2022
		£	£
	Fundraising and publicity
	Fundraising events	12,395	12,952
	Advertising	29,120	4,583
	Staff costs	80,560	74,637
	Fundraising and publicity	122,075	92,172
		122,075	92,172
7	Charitable activities
		2023	2022
		£	£
	Staff costs	225,720	230,026
	Travel expenditure	69,536	34,169
	Mission costs	485,453	180,918
		780,709	445,113
	Share ofsupport costs (see note 8)	220,076	236,206
	Share ofgovernance costs (see note 8)	9,430	3,972
		1,010,215	685,291
	Analysis byfund
	Unrestricted funds - general	428,902	659,974
	Unrestricted funds - designated	577,109	.
	Restricted funds	4,204	25,317
		1,010,215	685,291

yy ee

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

8 Support costs

Support costs
	Support	Governance	2023	Support	Governance	2022
	costs	costs		costs	costs
	£	£	£	£	£	£
Staff costs	84,124	-	84,124	52,158	-	52,158
Depreciation	425	-	425	850	~	850
Rent, Rates and Service
Charge	82,288	-	82,288	143,568	-	143,568
Communications	8,235	-	8,235	6,686	-	6,686
Office costs	7,746	-	7,746	7,023	-	7,023
Insurance	9,870	-	9,870	7,677	-	7,677
Computercosts	26,696	.	26,696	17,457	-	17,457
Bank charges and
interest payable	692	-	692	787	-	787
Audit fees	-	7,500	7,500	-	-	-
Accountancy	-	1,930	1,930	-	3,972	3,972
	220,076	9,430	229,506	236,206	3,972	240,178
Analysed between
Charitableactivities	220,076	9,430	229,506	236,206	3,972	240,178

Governance costs includes payments to the auditors of £7,500 (2022- £Nil) for audit fees.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employeesemployees during the year was:was:
	2023	2022
	Number	Number
Salaried employees	8	(4
Professionals who donate their time (nil cost)	18	18
	18	18
Total	26	25

Soke

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

----- Start of picture text -----
|||||| |---|---|---|---|---| |NW—<—$———| |10|Employees|(Continued)| |Employment costs|2023|2022| |£|£| |Paid|staff| |Wages and|salaries|348,336|317,396| |Social|security|costs|34,075|32,015| |Other|pension|costs|7,993|7,410| |390,404|356,821| |Time|donated| |Professional|resource|76,300|62,940|

----- End of picture text -----

Key management personnel

The key management personnel of the charitable company comprise the trustees and the senior management team. The total amount of key management personnel benefits (including employer pension contributions) received by key management personnel for their services to the charitable company was £152,856 (2022: £149,425).

Higher paid staff

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |The|number of employees whose|annual|remuneration was|more|than £60,000|is as|follows:| |2023|2022| |Number|Number| |£60,001|-|£70,000|1|1| |£70,001|- £80,000|4|-|

----- End of picture text -----

11. Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

3 eS se

-24-

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

12 Tangible fixed assets

12	Tangible fixed assets
			Computers
			£
	Cost
	At 1 September 2022		2,550
	At 31 August 2023		2,550
	Depreciation and impairment
	At1September2022		25125
	Depreciation charged in the year		425
	At 31 August2023		2,550
	Carrying amount
	At 31 August 2023		-
	At 31 August2022		425
13	Debtors
		2023	2022
	Amounts falling due within one year:	£	£
	Prepayments and accrued income	158,164	137,055
14	Loans and overdrafts
		2023	2022
		£	£
	Bank loans	28,334	38,333
	Other loans	55,000	55,000
		83,334	93,333
	Payable within one year	10,000	40,000
	Payableafteroneyear	73,334	53,333

Of the loans £55,000 (2022: £55,000) is unsecured, interest free and repayable on 12 months written notice by the lender.

The remainder of the loan balance is a bounce back loan that is unsecured and interest is charged at 2.5% from June 2021 — June 2026.

= 25 <

ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

oneeeee 15 Creditors: amounts falling due within one year

15	Creditors: amounts falling due within one year
			2023	2022
		Notes	£	£
	Bank loans	14	10,000	10,000
	Otherborrowings		-	30,000
	Othertaxation and social security		9,687	9,582
	Othercreditors		10,816	10,800
	Accrualsand deferred income		198,841	25,850
			229,344	86,232
16	Creditors: amounts falling due aftermore than one year
			2023	2022
		Notes	£	£
	Bank loans	14	18,334	28,333
	Otherborrowings		55,000	25,000
			73,334	53,333

17 Retirement benefit schemes

Defined contribution schemes

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £6,648 (2022 - £6,062).

18 Unrestricted funds - designated

These are unrestricted funds which are material to the charitable company's activities made up as follows:

					Movement in funds	Movement in funds
				Balance at	Incoming	Resources	Balance at
			1	September 2022	resources	expended	31 August 2023
				£	£	£	£
Glendon	Hospital	Montserrat		-	577,109	(577,109)	-
				-	577,109	(577,109)	-

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ARTICLE 25

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

21 Operating lease commitments

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

	2023	2022
	£	£
Within one year	5,683	5,683
Between two and five years	9,475	15,158
	15,158	20,841

22 ~=¥Related party transactions

Transactions with related parties

During the year there was unrestricted income from the trustees and connected companies totalling £35,000 (2022 - £15,000)

23.	Cash generated from operations		2023	2022
			£	£
	Surplus/(deficit) for the year		208,208	(24,570)
	Adjustments for:
	Investment income recognised in statement offinancial activities		(5)	-
	Depreciation and impairment oftangible fixed assets		425	850
	Movements in working capital:
	(Increase) in debtors		(21,109)	(65,293)
	Increase/(decrease) in creditors		173,112	(51,297)
	Cash generated from/(absorbed by) operations		360,631	(140,310)
24	Analysis ofchanges in net funds/(debt)
		At 1 September	Cash flows	At 31 August
		2022		2023
		£	£	£
	Cash at bank and in hand	52,141	350,637	402,778
	Loans falling duewithin one year	(40,000)	30,000	(10,000)
	Loans falling due aftermore than one year	(53,333)	(20,001)	(73,334)
		(41,192)	360,636	319,444

24 Analysis of changes in net funds/(debt)

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