Charlty rngistratlon numb¢r 1112621 {England and Wales) Company rogistratlon number 05608022 ARTICLE 25 ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
ARTICLE 25 LEGAL AND ADMINISTRATIVE INFORMATION Chief Executfvè G Holding Trustee8 D Bennelts (Char) P Clarf¢ P Hudson N Thlngelstad P Coffey P8tron Lord Fosler ol Thames Bank Charlty nnber 1112621 Company number 05608022 PrfncSpal address 6th Floor 1 Canada Square London United Kinoaom E14 5A8 Rglstw¢d offi¢e 6th Floor 1 Canada Sw8re London United Kingdom E145AB Independent examSner Azets Audit Ser¥e$ ÈstpoSnt Lynch Wuod PeteOr0[pah Cambridgeshire ijnited Kingdom PE2 6FZ Bankers The Cooperatlve Bank plc Central Conwnerdal Branth PO Box 250 Skdmer¥dale N86 8ank of Sethtand Ptc PO Box 1000 Untted King(h)m BX2 ILB
ARTICLE 25 CONTENTS Page Twslee8' report Independent examlnerf¥ repe¢t Statement of finarKlal activities Balance sheet Slalemenl of sh flows 10 Notes lo th8 fin3nti81 statements
ARTICLE 25 TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 Th6 trustses prttent thelr annual rewjrt and finClaI statements for ihe year eThaed 31 Dècèmber 2025. The fjnanrial stat¢m¢nts ha been pr¢pared In accordance wthh the acntIng policies set wl in rtrJte 1 to the financial statements an¢J comply with the caritable ¢ompany'$ governing dor#Jment, the Companles A¢t 2006 a1 'A¢Untirw and Repo"n by Charitis: Statemsnt of RecomMeIe1 Pradce applicable to tharities preparing their alxounts In aCtan wth the Firtancial RepNbng Standard applicable in the UK a1 Reput4ic of Ireland IFRS 1021" leffective 1 Janu¥ry 20191. Chtgf Exo¢ullv• ststsmont l am pleased to introduce Article 25's Annual Report for 2025. a tirr in which our orgarisatton has (Jelivèred some of tts most ambitious and impadful to date. Across East and West Afriea. Sotth Asia, the C8ribbean, and Soulheast Asia. our teams lvanced projects that have strengthened heatthcare systgms. oxpanded a$9 to eduration. and created safe, resilient buildings ts some of th2 workl'g most vulneTable communities. From th t))mpletKJn of Ihe fulfy off grid Kao La Amani Children's Village in Tanzania to major progress at the Montseffat Nation81 Hospital. from the re(lesign of critical fariltbes in Nepal lo the development of masterplans arml nv althcara prolects In Laos and KYa. Ihls pwiod reflects both thè scalè and depth of ourmission in action. Thls pericd has not been without Its chalenges. Ongoing economic ¢haRenges have crealed pr¢ssuT95 aL¥os$ our jector, while the complex poTh'tit*l and enviionmental ¢x>nditions in many of the regions where we work can hart a project with little waming. We have also had to navigate the Teallties of balatKing 9Klen$ive need with firte sources. mthing carefvl decision5 to ensu that our efforts remain bc¢h impactful and sustainable. A highlight of this period has teen the grovrth and surLess of Ilore Than a Bullding, our eavporats supp)rter netsyork made up of ¢tsrnparties across the built environment seclor. Their exrtISe, support. and fin8no¥l eommitment have strengthened the foundation of Artide 25. enabling us to plan long te, operate wth great8( resilience, and deliver projects that meet the highest standards of quality and soaal value. More Than a Building has devdoped into lar more than a funding stream,. li has become a cM)Ilab¢xatNe tommunty that share$ w beliel Ihat well designed buildings can fosler dignity, opportunity, and lasting change. None of this Wofk would be possible withoLrt the ded[Cats d our staff and volunteer¥. the leadership of our Trustees. the help of ourAmbassadors. aThJ the generosity of our supporters. My sincere thanks go to each of them. Together, we continue to dernonstrate what thoughtful, hum8rb centred bviklings can achieve. Gemma Holdlng Chief Exe¢)Jtive-Artide 25
ARTICLE 25 TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Oblèctlv•s and A¢tlvlts•s For The Publlc Benèfit Obj•ctlves and actIvI8$ The trustees have considered the guidan published by the Charty Commission and have ondudèd that the charitable company'$ core activities salistsdorily addres8 tha principles of identifiabl¢ public benefit and demonstrate that the charitable company has knlfilled the public benet requirement underthe Charlies Act 2011. Artirje 25 prowde5 building des19n sc4ubons 8nd key CA)rtruc"aon project management skills to the International DèlOpment ¢ommunity. FocusiThJ on th9 core areas of bulldings for housing, lèarning. health. and vthere appropriate. resilien lo disasters, we aim to aWy these skills where they make the greatest benefitial differenctr to the most Ilisadv3ntsged communitles. continue to deliver Ihese oectivès throu dose collaborations with NGOS and community groups intemationally. Th? trustees have paid t1ue gard to guidance issued by the Charity Commission in detyding what activitie6 the tharitable ¢OMpany should undertake. The de5cr4Ption under the headings'AchievÉments and perfom)ance' 8nd"Fin8naal reWe meet the comp8ny18w ruIreM¢rts for th• truste&s to present a strategic report. Achlovements and pgrformanee Artlclè 25 wntinues to d?liver essential design and ctsnstrncbon skills to those who woutd otherni5e have no aceess to such services. Vve work with partners aws5 th• built enrOnment sector to provide engineering and Cost management skills to benefil some of Ihe poorest and most disadvantaged conynunilies in the worfd. ThTQU9hout our work, capacity devekjpmenl Temains a constant priority. Our construcl¢on projects are used lo develop th• skills workers in the cDmmunlts"es of our ltseal partners and to increas¥ lOntern re1$en. leaving behind Community better able to budd safely for itself. We improve the lonterm perfomianee of a project by eng8ging the end-U6ers from incèption to cA)Mplet)n. This positively affects the sustaiThgb'lity of a prqect Ènd builds the ¢aparyty of those local partners who le tespon5ibility forth¥ projeLI and its sustainable operation. Article 25 Is one of the lew organitiOnS globally deliverin9 this technul woth ¥$ a primary otyjgctive and from a small base of operations. Our projècts have a positNe impacton hunthed5 of thousands of beneficiaries over time. Artide 25 safeguards the effectweness of its VKJrk through maintaining high professional Standards and by monitoring outPLrts. We examine the lontem sustainabilty ol each proJe¢t to ensufe ¥ IBStirvJ impact is ¥¢hi$vd. Finon¢lal revlew It is the polScy ol the charitable company that unre5tricied funds sthieh have not been designatÈd for a speafic use should be maintained at a level equivalentto behveen threè and six month s expenditure. The tnjstees wn5id8rth reserves at this level will ensure that, in the event of a significant drop In funding. th will be able to conkn.nue thè ¢h4ritrble eompany'$ current activities whlle conside10n55 gtven Io way5 in whith additional funds may be raised. The resutts for the period are an improvement on the prior period, however there is more wodo to do to restore th re$eNes position. The trustees are WOFkiNJ to furthe¥ improve the reserves posKion over the ¢xming year. strucre, gov•mance and managwnènt Governinu document The charity is controllèd by its goveming dument, a Memprandum and Artides of AssocAation, and c#)nstitute$ a limrted compary, limited by guarantee. as dBfined by thè Cotry)aniesAct 201. Recrultment and appolntment of trustee$ The existing TruseS appoint new Trustees. Their temis and responsitilities are oudined in a bitstee recruitment policy that was implemented in 2016. Trustees of the charity are also Qirectows ol the Limited Company. We 8 rotation of Directors and as per our Artides of As50ciation'. one third Csl the Directors must relire èach year but may be Trelecled.
ARTICLE 25 TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 Organjsatlonal aims Artide 25 was founded ortginally under the narre Architects for and was set up to provide better housing for those in need and to work with partner NGOS to provide buill solutions wherever ihere is disaster, poverty or need. Renamèd Artide 25 in 2009, the tharity aims to promotè safe hou5in9. z¢xa¥s to education, and heathcare as a human right, and is namèd aftèr thè 25th ArtidÈ Df Ihè Universal Dedaralion of Human Rlghts. vthich is the artide of the dedarabon reJ'ng to the bultt enwronment. Organlsatlonal struCre Our organisational structure cOMpSe$ 3 Board ofTftJ$iees. a SenK)r Man•9ement Team led by the Chl&f Exac¥¢ who pOrtS to the Board. the Stsff and Volunteers. The team of staff and volurrteers is organised into projects ar¥J d)w&ty management lindu(k'ng fvndraising and mMunIcations1. headed by the Dlr8ctor of Proie¢ts and Chief ExeoJtNe respectively. The Trustees during the period and subsequenly were.. D Bennetts (Choir) Pcla D J R DeJ8hunty G Grainger P Pd$On N Thingelstad P Coffey {Resigned 21 Aprtl 2026) IResi9ned 11 August 20251 Rglatgd parties Artide 25 works with partner NGOS, INGOS, thants"es, thvelopnent agencies and govemrnent8 in the UK and Overs$. Artide 25 receives the donat of skills from Vario professSonal pare$ who 08sI4 in the delivery of our projects. Artle 25 Intrtithsc£s capac4ty btsikling in arehrtecture, engineÈrin9 and con8tnJction to intemational devesjpment projects. The organisation also provides contiwing education to piolessional fims and larger agencaes as a way of iAyeasing the impact of its work. Risk managern•nt All Artic 25 prolecls and operation5 are assessed for thelr pol¥ntial rfsks in delivery before SignifnI tharity resources are dedicd to proiecl. A risk register is maintained by Ihe Chief Executive and Dire¢tor of Proiects d is wesented for approval atthe quartedy twustee board wneetings. The charity a$30 liaises wilh local and international bodies (for example the High Commiss40A or Embassy dèpartments as appropfiat8} when undertaknng Ihè managémént of work overseas and dealing with any Issues of controversy or potential controversy when working alone, or wth or)y collabtsr8ting enfy'ty. Article 25 operates a ¥afeguardin9 policy. Overseas projèct travel is asSsed tor risks ahèad of ea¢h ffield ¢rip. If netsssary. staff and voluntews under90 required hostile envlronment and first aid briefings prior to going •lYoad. All tr8vellers are c¥)vwed under * Artide 25 insurance policy, spefifir2lly prowded for NGO w¢yers,' they ate brrefed on pertinent tocal social issues and are Inslructed to emer9eney ts)ntart detaas. E?th Iation is researched in advance and advir£ soughl.from FCOO and inw(x)unty sour, paticularfy from our locol partners who havg detsiled kno%%qedg8 of condRkJrts In the field. OUT legal advisors have advised that we have. thiough the training and documentation we use. achiev8d effeLlt¥e fjmilation for our li#bilTty regardiny risks in nding parbapants on overseas Proieds and that they have suffic4ent informaiion to nRet standards of 'infomied ¢senr to Pap#te as stsff or lUnteerS for Artic4e 25. A"de 25 also has public liatilty and professlonal indemnty insUraè to off¥et y ri8k incurred in Ihe o)ursè of corKlucting our work at home and overseas.
ARTICLE 25 TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Achtevements and Porfomianc8 Article 25 delivered slroftg organisational perf0mlan over Ihe reporting period, with continued growth in In¢orn¢. broaderengagement from supporters, and an expandin9 pipeline of high-impact intemational projeds. Increased fvndrng from Mor8 Than a Building enhanced th• chanty's financial resilienc£ and enabled us to tske on larger and [rre technically complex programmes of work. Al she same ts"me. our profile wthin the bLtilt-environmÈnt 8nd development sectors continued to ri, reflected in higNevel partnèrships. industy recognrtion, and the grow¢ng visl)ility of our proiecls World"de. Project5 WOrt(ed on during period- Kao La Amani Chiklren's Vlllage. Tanzania We cc¥npletedAfricA'S first fully off-grid thildren's lIage, providtng a $af8, res11ient home lor vulnerable childrèn. The project integrates solar power. water Inde[xrenCe, Thara1 wa5tew8ter systerns, offering a model for sustainable care environmènts. Kao La Amani Primary Sthod EXpaon. Tanzani Construction began Dn a new dininy block. library, and sanitation facilities lo wpport the adjarent primary school. Our $e architect ensured that all work¥ rellected Chi1J-wrtd design and loCaY grounded conslwction melhods. Child Support Tanzania, Mbeya We progressed design work for an inclusive Earfy Years Cents $uppoitng children wrfh disabilllie$ In Mbeya. The rxqèct established a framework for assib das8room$, thefapy spacès, and outdoor play areas tailored to I1 community needs. che Sana Foundation Feasibllity Study, Tmnia Wè completed a feas1.1[fy study explorirvJ options ft)r improving and expanding therapeLrtie and community-based facilities foi Street children. The study pro¥Aded the dient with phased scenarios. costings, and a roadrnap for future development. Volcano Inieryetation Centre. Montserr8t Vve have compl•ted the Concept Design for opl'ony tor this cultural centre, which wll house and disF4ay the listory ofthe Soulrieie Volcano erwtlons and its impact on MontsÈrratians and Ihe county. New Natsonal Hospital. IAontserr8t Construction has started on Mont5errat's New National Hospital, a pri¥eit designed, a state-of-the-art laality on the site of the existiNJ Glendon Hosprtal, desiynèd to improve re81llen and modernize the islancl's hgallhcare infrastrucluTé_ Anandaban HO$1 Research Labotatory. Nep81 After Stomis and landslides impacted Ihe original site, wè redesigned thg laboratory fly 8 safer, newly secured localton, Khammoue Prownaal Hp¥pital, La05- M45terplan A comprehensive hospital site masterplan was GompteteLI to guide phased development over the coming years. Th8 plan establishes dearer circulth"on, expanded clinical zonas, and long-term irrfrastructu¥e resitienc*. Khammouxna Proviwal HO$ts1, Laos 4cute Cart BudIng We a(fvanced tht design work forthe firsl phase of the masterpjan. con515tiny of a new building irKorporating Operating Theatre, ICU. Emergency D¢partrnent, Oul-Patients Department and Ph8mia¢y. Earfy-St89è tèchnie81 cthrdinalion laid th8 groundwork for improved clinical services across the region. Kènya Heathea Facilitr95 Our architecis rried out site visits and project Beoping fora portfdio of new healtteArè facllftios across Kenya. Concept desigr) work began, focusing on expanding essential services in underserved regions.
ARTICLE 25 TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Fundralslng Corporats Partnw5hip Suppori We are delighted that OLtr Morè Than A Buikling pOrate partn8rship prcgram continu8s to b& •xeellant source of both finana¥l and pro-bono support. More Than a Building is set to generate over £300.000 of unstricted. pr¥Jiclabl¥ income over ts comng ye8r. We would like to eXd a hup thank you to our More Than ¥ Buildlng Ambass8dNs and More Than a Building members. Support from gènerous Indlvlduals We continued to r1v• sIgniftl donallon$ Irom indivldual$ INS year- and wo would Ik8 to thwk major doncrn forthew contin(d generosty towwds Arte 25 and ourwoik. FINANCIAL REVIVII Vvhile our day-ttrday operation5 are supported by cash xcounling. accounlrng standards require us to rec£•Jnlse income and expenditure by accruals acwunting within the relevant period. BesvJe5 inrorne arKI expenrfilures ttris includes 8r£ounting fN donal1c in kind and volunlary serVS provided by our parln8rs. Thè StstÉnnt ol FinanLial Activitias shows a surplus for the period of £59.772116 months to 31 D8£enlxr 2024.. deficrt of £353,35SI and our reserves stand al {£35,3191 (2024: 1£95.0911} in total. The trii8lee5 are pleased with the progress made in the finan¢4al perfom)ance In Ihe pefi.od and gre working towards $tOring balanL* sheet to posit4ve pD5rtson. Gthny wicem addressed in note 1.3 ofthe financial st@tents. Nonè of thè trust•as has any becIal interesl in the company. All ofthe trustees are members ofthe company and guarantee to cnntribute £1 In the ev¢nt of a wrnding UP. The Inistees. report was a Ov5bY the Board of Twstees. O Benn Tru¥tèÈ (Charl Dale.. 194L fJ_
ARTICLE 25 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARTICLE 25 I report to twstees on my examination of the finangd statements of Artide 25 (the charitable company) for the year ended 31 Decembei 2025. Rosponsibilili?s and basis of r•port As the tnjstees of the charitable company land also its directors lor the purposes of company lawl. you are responsible for the preparation of the financAal statements in acwrdance wilh the requirements of the coMnieS A¢t 20(. Having $atisfi8d mysdf that the fin¥naal slatements of the chadtable company are not required lo be audited under Part 18 of the Companie$ Act 2006 and are eligible for independent examination. I report in respect of my ex8minats.on of the tharitable company's financkal Statements carried out undèr section 145 of the Chariti?5 Act 2011. In rryIN out my examin>titin I have followed the ThC"0n9 given by the Charity Commissitsn under section 14515llbl of the Chafiles Act 2011. Independtnt exarninèr's ststement Since the charitable cornpany's gross income exceeded £250,000, thè independent trxaminer mLtst be a member ol body listed In section 145 01 the Chartties Act 2011. l o)nfirrn that l am qualified to undertake the exarnination because l atN a member of ICAEW, whith 1$ one of the listed bodies. I have comp18ted my examinatlon. I confimi that M mattws have come to my attention In connection wth the èxamination giwng me cause to believe that in any material respect.. accounting records We not kept in respe¢t ol the ¢haritsble company as required by section 386 of Ihe Companies Act 2006. the financial statements do not accord wilh those records- or e financial statements do not comply with the accounb.ng requirements of seciion 396 of the Companies Aci 2006 other than any requirement that the finanal statemenls give a true and fair view. which is not a matter considered as part of an independent examination., or the financial staMentS have not been prèpared in accordance wilh the method5 and principles of the Statement of Recommended Practice for accounting and reporting by ¢h8rities applir2ble to charitses preparing Iheir finanryal statements in accordancè wilh the Financial Reportin9 Standard applicable in Ihe UK and ReputAic of Ireland IFRS 1021. thout qualifying my examination, I draw attention to note 1.3 in the accounts concemin9 the chari5 ability to continue as a going concem. I have no concems and have come acro55 no other matters in conneGtion wklh the examination lo which attention sJU1 be dr8 In this report in order to enable a proper understanding of the financial statements lo be reached. Tracey Richardson IBSC) Hons FCA W6stpoint Lynch Wood Peterborough Cambridgeshire PE2 6FZ Date..
ARTICLE 25 STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 rr•n¢llnJnel•l p•rfod Totsl Totsl Unr•strlct¢d D•61gnatgd R•strl(l•d y•ar end•d perlod end•d funds fvnds funds 310¢cemb•r 31 De¢ember 2025 2025 2025 202S 2024 Donatn3 arKI le9ades Chaiitabb g¢dvlVos Investnwits 633.736 102,161 633.736 357,215 28 494.389 556,427 10 255.054 Tolal Incom• 735,925 255.054 990.979 1.050.826 Iturn on: Ra¢sllig fvnd3 118,942 118.942 201,022 Charft8ble acliviliès 587.077 198.251 26.937 812.265 1203.159 Tot•1 •xpendlture 7t6.019 198.251 26.937 931.207 1,404.181 Not in¢omlng1{outgosngl resour¢ès before transf•rs 56.803 126.937} 59.772 1353.3551 Gross translers be88n fund5 93,795 193.7951 N•1 nEom•llpendIiUlÉ) forth• yearlperlod 123.701 136,992) 126.937) 59.772 1353.3551 Fund balances at l January 2025 1171.2731 36.992 39.19) (95,0911 25B,264 Fund balanc•s at 31 December 2025 147,5721 12.253 135.3191 195,0911 The stetsm9nl offinanclal activitoes indudes am galns and105ses reCognid in the year. The s18ternent of finanaal actl¥lle$ indudes all galns and losses reo2gni8ed in the year. PJI knclym and eyndllure d8TiV• from continuing aclivili95. The st•tement of flnancLol also (%wnplles wh the requirerwits lor ¥n exponthture undgr the coMpanA¢t 2006.
ARTICLE 25 STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025 Priorfinan¢ial year Unrèstricted Unrestricted Restrictsd funds nds lunds ggneral 2024 Totsl 2024 2024 2024 Notes Income from: Donations and legacie5 Charitable attivilie$ Investments 494,38S 122,927 10 494,389 556,427 10 433.500 Total Incoma 617,326 433.500 1,050,826 nditurg on: Raising funds 201,022 201.022 Chairtable actsvilies 609,916 396.508 7.735 1.203.159 Totsl gxpenditurfr 810,938 396.508 196,735 1,404.181 Net incominglloutgolngl fesources bofore transfers 1193,6121 36.992 1196.7351 1353.3551 Net incomellexpenditurèl for the periodl Net movement in funds 1193,6121 36.992 1196.7351 1353,355} FuThl balances at 1 September 2023 22.339 235.925 258,264 Fund balances at 31 December 2024 1171,2731 38,992 39,190 195.0911
ARTICLE 25 BALANCE SHEET AS AT31 DECEMBER 2025 31 D•c8mber 2025 31 Dec•mb•r 2024 Notss Flx•d ass•ts TArvJible assets 13 6.667 Current a$¥ets Debtors Cash at bank and hand 14 139,398 113.080 97,584 105.343 252,478 202,927 Creditors: amounts falling du• wlthln one y•ar Is 1239,464) (237,357) Net current assetsllliab¢liti6sl 13.014 134.4301 Total #Ssets less current liabilities 19.681 (34,4301 Cr¢dltors: amounts falling due after mor• than on• y4ar 16 155,ClXII 160.6611 Net liablllties 135.3191 195,0911 Income funds Restricted funds Unresiricted fiJnd8 22 12,253 147.5721 39,190 {134,2811 135.319) (95,0911 The company is entitle(5 to the exemption from the audri requiremenl eontsined in secknn 477 of the Companies Acl 2006. lor the year ended 310ecember 2025. The directors acknowledge their mSPDnsibilitie5 for complying wilh Ihe reqTeMents of the Compan5 Ad 2006 wrth spect to accDtJnting records and the pparatson Offinanal sternerrts. Thè membets have not qUIr th8 conwany to obtsin 8n ou(l of its fironaal statements for the year in question in acLordance with sectton 476. Th&se finandal stalem¢rts love been ppared in accordance the prlSIonS applicabJ8 to cnIeS subj'e(* lo the small companies reglme. The finanual Statements were apwoved by the TruBlees on. D Bennetts {Chairl TNgtee Company registration mimber 06608022
ARTICLE 25 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 Year ended 31 December 2025 Period ended 31 December 2024 Notes Cash tlows from operating actlvitles Cash generated fmmllabsorbed by) tsperations 37,709 1304,7721 Investing acti¥lties Inv•5tment inct)me reiVed 28 10 Not rash gènernted from Inv•sting actlvlties 28 10 Flnanclng •¢bVé8 Additional borrowings Repayment of loans 20.IX)O 112,6731 130,0001 Net cash (used inllgen•ratèd from financing aetivities 130,0001 7.327 Ngt Increaselldèer•ase) In cash and cash equivalents 7,737 1297,4351 Cash and cash equivalents at beginnitYJ ol year 105.343 402,778 Cash and cash e4uivalent5 at end of year 113,080 105,343 10-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollclos Charfty 5ntomiatlon 2S 18 a priv¥t8 cornpany limited by guantee incorporated kn England and Wl&les. registe office 1$ 6th Floor, 1 Canada Squa, London, E14 5A8, United Trfjngdom. 1.1 Reportlng period The financizl stataments ar8 prented for the yeaf ended 31 Decery&>er 2025, the o)rnpaTalnie an[rtS are pr¢s¢nted for a period of 16 months ending on 31 December 2024, as such th8 informlion pte¥ented in the fincta1 stalement$ linduding Ihe relal•d notes) are not entirety comparable. 1.2 A0tIng convention The financial statements havè b•en pr8par•d in accordan wrth the charitable company'B go¥wning document, the Ctfftpanies Act 2006, FRS 102 The Finanrial Reporling StarKI8Td ¥plfable in UK and Republic of Ireland" I'FRS 102.1 and thè Chariti"eg SORP 'AcLLJunting and Reporting by Chaili•s.' St8tem•nt of Rewrnmended Practi applic2ble to charities preparing their ¥WOLtnts in awordanc4 wlh the FinanrAal Reportvig Standard applicable in th8 UK and Republic of 1mld IFRS 1021. leffeciive l January 2019). Th• charitable cory)8ny Is a PLtblic Benefit Entity as defined by FRS 102. The finarKial statements ore prnpared in sterting, whlch is the knctional ¢)Jrrency of charitable company. Mcffjelory amounts in th•se finanrAal statements a rotthdÈd to nèar&st £. The fin¥ntyal ststements have been prepared under the h1stori1 cost rx)n¥entk?n. The principal a¢Unting policies a¢Sopted are set out bekyw. 1.3 Golng ¢on¢em Vvhilst the f(nancial pertormance in the period was encouraylng, rethA9 eost-¢uttin9 in a4 2024 and Q1 2025 the balance sheet al the pefiod end was 51111 negative, ShOYn9 a deficil tsf £35,319. At 31 December 2025 the chariiy had two main external LYeLtor5'. i". A t¢mi k)an of £55.000, which is repayable on 12 mnlhs written noti lo [Qy. As at the date ol ?pproval of the fmancial stern15 no $uch noifjts had been issued. ii.. A Cowd bounce back loan of £5.661 which is being repaid monthly through to the summer of 2026. During the year a ¥hort teim loan of £20,000 and a tht'rd party deb(, of approximately £90.000 were cleared. As at 31 December 2025 creditors Irude (kferr¢d incA)me 01 £112.41312024'. £nill whSch will be credit¢d lo incomè in 2026. The Ttee3 havt prepared a easmow which 1ndLe5 the inyact of a number of expected prc4ecis an(J showy thè charity remaining cash pjsilive for the next 12 wrrfJnlhs. Trrefore at Irmg of approving the finanoal statements, the trustees have a re8sonae expecaation that the charitable company has adequate resour8 to o)nlinue in operalional existenc£ for the fore5eeabte futwe. On this basis. the Trustees continue to adDpt the going cf1nM basis of accounting in preparing the finanaal statemtnts. 1A Charftsble fvnds Unrestricted funds are availatsle for use at the di5crelion of Ihe injstees in furlh•fanc8 of their cariWle objedives. Réstncted funds are wbiect to speciffc conditsons by donors or or8ntor$ as to tnèy may bè used. The pUOseS and usgs olthe re51rict thnd$ •r& Sel oul In the rths to the financial statements. 1.5 Inc4>m• Income Is recognised when thè d)arltablo ojmpany tegalty ertiw to it after any perfomiance conditlons have been met, the amou¢)ts can be measured relialty, And it is probab that InMÈ VAI be received. 11
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEM8ER 2025 Aceountlng pollcles (Continued) Cash donations are recDgnised on receipt. Other donations are recognise(J once the charitable company has been notified of the donation, un$ performance condition5 require deferral of the amount. Income tax recoverable in retIOn to donalions received under Gbft Aid or ¢Jeeds ol covenant is rncognised al the time of the donation. Legacies are recognised on receipt or Otheise if the ehaiitable ¢omp¥ny has been notified of an impÈnding d15tribution. the amount is known, and recetpt is expected. If the arnount Is not known, the legacy 13 treated as a contingent asset. 1.6 Expenditure Expendilure is recognised otKe the is a legal or eonsiwctive oblvjatton to transfer economic benefit to a Ihird party, it 1$ prgbable that a transfer of economic beneffts will be required in settlemgnt. and the amount ol the obligab.on can be measured lIablY. Expenditure is classified by activity. The costs of eath activity aTe made up of the total of direct costs and shared costs. induding supw)rt costs involved in und&rtaking eath activity. Direct cos15 attributable to 8 sirgle ivily are alloG3ted directly lo that aiwty. Shared )StS which contributè to mofe than one activity and support costs which are not attribLrtabJe to a &ngle activity are apportioned betsyeen those adMtie5 on a basis on515tenl with the use ot resourc&s. Central staff costs are allocated on the basis of time spent, and epreats"on charges are ollocated on the portion of the assel's use. 1.7 Tangible fixed assets TarKJible fixed assets are initk4lly measured at e03t and subsequenly measured at cost or valuation. net of depreciation and any irry)aifrnent losses. DEpreualion 15 iecognised so as lo write oll the wsl w valuation of assets less their residual values over their useful lives on the following base Comwters 33% straight hnè Thè gain or105$ ari%ng on Ihe dtsposal ol an asset is detÈm)ined a5 e diffeience between the sale proceeds and the carying value ol the asset, and is recogni5ed in the statement of financiBI activit$. 1.8 Impairnient of fixed assets At eath reportsng end date. the chantable company reviews the CArrying amounts of its tangible assets to determine whelher there 15 any indical)n that those assets have suffered an irnpaiirnent loss. If any such indicatn exists, the COVerable amount of the asset Is estimated tn order to delermine the extènt of the impainnent loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents indude cash in hd, deposits held at call wrth bonks. other short-temi IiqLwd investments with original maturities of thrèe mtsnths or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 12-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcies {Continu•dl 1.10 Hnancial InStrunts The charitable Company has eleded to apY the pwsions of Sedion 11 '8asic Finanaal Instruments, and Section 12'0ther Financial Instruments155ues' of FRS 102 to all of tts finanu31 inslruments. Financial instruments are recognised in the dlItable corTynl$ balan¢e sheet the charitsble cknmpany beCmeS pwty to the contrual provisions ofthe instrumenL FinancAal assets and liabib'ties are offset, Ylith the net amounts prasentad H) th8 financial 6tstementS. V+hen there is a legally enforceats right to Set off the recognised amounts and there is an inlenll)n to $8tt1tr on a net basis OT to réa1698 tho asset arKI sotde thè liability simutt8neous+y. Bas1¢ Ilnanclal Ass•ts B8$i¢ finaneial 8ssets, whic inuyude debttys ond (¥sh and bank balan¢e$, a initially Measur at transaction price inc4jIng transaction costs and are subsequently carr*d at an>Jrtised cost Using the effective inlerest rnet unless the arrangement Constitu$ a financin9 trsact)n, V•he the transaLlion is measured at the present value of the fLrture receipts discourtttd at a mthot rate of interest. Finanoal ass&ls classified a5 re¢eivablt vthhin one year 9 not 8morti$ed. Baslc Ilnancial Ilabftltles Ba¢ financial liabilities. including creditors and bank loans are initially recognis¢11 * tr•n$?¢tion price unless the 8rran98ment eonsttttrtes è financing transaction. where the debt ItrUMent is measured at the present valLte of the future payments discounted at a market late ol Kiteiest. Ftsiancial liabilitses dassified as payable wthin one year are not amort¢'sed. Debt instruments are 5ubsequentty Carried 313morti3ed cos[ using Ihe effective inlerest rate method. Trade creditors a obligations to pay for goo¢Js or services that have been aequired in the ordinary course DI operalions from Suppliers. ArTvJunls payable are dsssified as current liabilities il payment is due withTn Dne yÈar or less. If not. thèy are prèsènted as non-currènt liabilities Tradè credilors are recognised initially al transath.on price and subsequentty measured at amortised ctht usiNJ the effeclive intsr¢¥t method. Derecognltion of financial liabilitits Financial liablities are derecognised %then thè charitable CO2ny,S contractual obgationS expire or are discharged or cancelled. 1.11 Employee bBnefits The Cost ol any unused holiday entitlement IS Tecogni¥ed in the period in which the employee's service5 are rec4ivgd. Temiinalion benèflts a reo)gnlsed immedlatsly a$ an expense when the Charrtle Company 1$ demonstrably committed to temiinate the employmenl ol an employee or to prowde teminabon benefits. 1.12 Rètlrnmènt b•neflts Payment8 to defined cCtriArtiG retIre[rnt benefit stheme¥ are charged a5 an expense as they fall du•. 13-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 Crltlcal aecounting e$tlmate$ and judg•ments In the application of the charitable u)mpany's acojunting polirie$, the truslees s required to make udgements. estimates and assumptions about the carrying omount of assets and liabilitS that are nol readily apparent from other sources. The estimates and assoaated assumptions are based on historical experience and ottrw factors that are considered to be relevdnt. ALtsal resutts may ¢Jiffer from thèse estimates. The estimate5 and underfying assumptions are rewewed on an tsngoing basis. Revisions to accountin9 estsmate8 #re fecogr115ed in the period in which the estimate is vISed where the revision aftect8 only that period, of in the period of the revion and filte perK)ds where the revi$ion affects both current and future periods. The We no crltical accounts eslimale$ or judgemènts made in the year12024.' none). Donations and kgacbes Unrestricted Unrestricted lunds funds genernl Total general 31 December 31 December 31 Dec8mber 2025 2025 2024 Donations and gifts Membership lees Donated gLd$ and services 264.885 123,569 245,282 264,885 123.569 245.282 270,065 91,268 133,05S 633,736 633,736 494.389 Charitable 8¢tivrtie5 31 December 31 December 2025 2024 Grant incorne 357,215 556,427 Analysls by fund Unrestsided funds- y?neral Designated fijnds 102,161 255,054 122.927 433,500 357,215 556,427 14-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 Inttsme from inv•stmènts UnstrIcted Unr•$tricted funds lund$ general general 31 DÉ¢èmber 31 December 2026 2024 Interest receivable 28 10 Exp8ndllur¢ on raising funds Unrestricted Unrestrtct•d funds funds 9eneral 9èn•rdl 31 Dec•mb8Y 31 Dèeèmber 202S 2024 Fundraisin and ubli Fundraising events Advertising Staff costs 69.759 983 48,200 108,611 621 91.590 Fund¥aisirKJ pU1CitY 118.942 201,022 116,942 201.022 15-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPAIiATIVES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 Charit4ble acttvities 31 DecembÈr31 De¢gmber 2025 2024 Staff ¢osts Depreciab"on and impaim)ent Travel expenditure Mission costs Bad and dtsubtFul debt$ 290.547 3,333 5,035 237,822 8,000 488.329 24.289 375,069 544,737 887.687 Share ol support costs (see note 81 Share of govemance cost5 {see note 81 231,914 35.614 289,288 26,184 812.265 1,203,159 Ahalysis by fund Unrestricted funds geneT Desi9nated funds ReStrted lunds 587.077 198.251 26.937 609.916 396,508 196,735 812.265 1,203.159 16-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENOED 31 DECEMBER 2024 Support costs Support Gov8m4nc8 31 Dècembgr costs costs 202S Support Governan¢e 31 December costs 2024 Staff ¢osts Renl, Rates and Servieè Charge Communlcations Office cn8ts Insurance Computer ¢osts Bank Charges 39,000 39.000 74,054 74.054 109,640 4.247 31,147 19.515 15.233 13,132 109,640 4,247 31.147 19,515 15.233 13,132 145.993 7,110 11.041 20.869 28,268 1,953 145,993 7,110 11.041 20.869 28.268 1,953 Independent ex8fftner fee$ Aontan Le9al and prof*ssional s,000 1,600 29.014 s,000 1,600 29.014 5.000 1,600 19,584 5,000 1,600 19.584 231,914 35,614 267,528 289.288 26,184 315.472 Analy5ed Charitable adiMtie8 231.914 35.614 267.528 289.288 26,184 315,472 MÈt movemènt In lunds 2025 2024 The n¢1 rnovement in funds 15 Staled after Chawgingl{cItingl-. Fee5 Y#ble for the independent examination of the charitys financAal statements Depreciation of owned langible fixed 3S5et5 s,oDo 3,333 5.OC¥) 10 Trustees None of the Irustees lor any persons conneded with them} feceived any reneratIon or nefIts from th& charitable company during the year. 11 Empkye The average monthly number of employees during lhe year was.. 31 Do¢•mr 31 0e¢ember 2023 2024 Numbef Numb•r Salaried employees Profe¥sior7018 vtho donate th( tin (ril eo 12 13 Total 17 21 17-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATWES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 11 Employe¢s Icontlnuedl Paid staff Wdges and 3alaries Soiial security costs Olher pension costs 344.502 25.132 8.113 5Bg,005 53,179 11.789 377,747 653,973 Time donated Profess*)nal resouTC 71,056 76,300 Total 448,803 730,273 K•y manag•ment pèr&onnel The key management personnel of the d)aritable company Compri the twstee5 and the senior management team. The total arnount ol key management personnel benefits linduding ernyloyer pension contributions) reIVed by key management personnel for their services to the charitable company was £192.655 {16 mcffiths ended 31 December 2024." £352.8561. Hlgher paid staff The number ofemployee$ whose annual remuneration was more than £60.000 is as follows.. 31 Deeember 31 December 2025 2024 Number Number £60,001- £70.000 £70,001- £80,000 12 Taxzlio The charity is exempt from lax on income and gains falling wilhin sectioft 505 01 the Taxe5 Aet 1988 or secl¢on 252 of the Taxation ol Charyeable GainsAct 1992 to Ihe extent Ihat theSE are apFlied Its its charitable objects. 18.
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 13 T•ryJiblo fix¥d a$s•ts Comptrtfrrs Co¥t At 1 January 2025 Addrtions (donated 83setsl Disposals 2,560 10,000 12.5501 At 31 December 2025 10,000 Depreclatlon and Impalmient Al 1 January 2025 Depreu8tion charged in the year EIFminÈted in respeet of disptssals 2,550 3.333 12,5501 Al 31 Oecember 2025 3,333 Carrylng amount At 31 December 2025 6,667 14 Dèbtors 31 December 31 D8Cgmber 2025 2D24 Amounts falllng duè within one y•ar= Trade debtors Other debtors Prepayment5 and accrued income 86,391 25,893 27,114 42,061 47,425 8,098 139,398 97,584 1 S Creditors.. amounts falling due within one year 31 Dteèmber 31 Decemb•r 202$ 2024 Bank loans Other boowingS Other taxation and social sec¥rity DefeThed income Trade creditors Other ueditors A¢¢iuo1$ 18 5.861 to.000 20,000 10,069 12.857 112,413 64,382 101 44,050 17 121.613 75.676 239,464 237,357 19-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENOED 31 DECEPABER 2024 16 Credltors: amounts lalling du• after more than one •r 31 D8C8mber 31 December 2025 2024 Bank loans Olher bOffOn9$ 18 5,681 55,000 55.000 55,000 60,661 17 Deferred income DefeNe(l incorne is included in the finanaal ststements as follow5". 31 December 31 December 2025 2024 Deferred income is included thin." Current Ikabilit 112.413 Movements in the year". Deferred income at 1 January 2025 Rasources deferred in the year 112,413 Defeffed income at 31 December 2025 112,413 18 Loans and overdrafts 31 December 31 De¢ernber 2025 2024 Bank loans Othef loans 5.661 55.000 15,fj61 75.000 60.861 90.661 Payab within one year Payable after one year 5.661 55,oryJ 30.000 60,661 Of the loans £55.000 12024.. £55.0001 Is unsecured, interest free and repayable on 12 months written notic the lender 8nd £nil 12024.. O,Do0} is unsecured. interest free and repayabl8 on demand. Thè loan of £20.000 was Paid during the year. The remainder of the19gn balance is a I)Oun bac loan that is unsecured with intere* ¢l)arged at 2.5%.
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 19 R8tlrwn8nt benefit Schemes 31 DMbr 31 Dgcember 2025 2024 D8flned contribution srherno Charge to profil or Jos$ in resptrct of defined COntrUtIon schemes 8.113 10.374 The eharilable company operates 4 deltned oJntnbuts"on pension scheme br all qualfying emptoyees. ThÈ assets of the s¢lwm¢ 8rè h•ld separately fiom those of Ihe charitable rAJmpany in an independentty administered hjnd. 21
ro cwo 88 Q*
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPAK4TIVES ARE STATED FOR THE 16 MONTH PERIOD ENDED 31 DECEMBER 2024 23 Analys1$ of nèt assets beh¥een funds Unrostrlcted t)gsi9natod nds funds 2025 2025 Restrlel•d luTrds 2025 Totsl 202S At 31 D•cember 2025: Tangible assets Current assetsllliabililie$) Long tern liabilrfies 6.887 761 155.0001 6.667 13.014 155,0001 12,253 147,5721 12.253 135.319 Unre5trFcted De$ignat8d funds fund5 2024 2024 Re9tr5cted funds 2024 Totsl 2024 At 31 Oecember 2024: Currenl asset51{liabilitEsl Long temi liabilitEs {110,6121 1fj0,661) 36.992 39.190 134.4301 160,6611 1171273) J6,992 39,190 195,0911 Operating l•ase commltrnents At the porting end date the charitable eompany had +Jrtstanding (xjmmitments for firture minimum le8se payment5 under non.cartelable opermting leases, whlch fall due as follows.. 210mbr 31 December 2025 2024 thin one year Been tsyo and five year8 5,302 5,683 3,792 5,302 9.475 25 Relatgd paity transa¢tlons Trdnsactions wSth related parti•$ During the year there was unrestrict8d income from the trustees totalling £26,200 116 months ended 31 DecembeT 2024.. £50,000) -24-
ARTICLE 25 NOTES TO THE FINANCIAL STATEMENTS ICONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2025 COMPARATIVES ARE STATED FOR THE 16 MONTH PERIOD ENOED 31 DECEMBER 2024 26 Analys1• of ¢hange$ In n•t funds At 1 J•rtry 2025 C••hllDWS At31 OErBbv X¢26 Cash 81 b#nk ATh1 In hand 105.343 7,737 113,080 Lcons fauing due thIn one year Loans falling duè aftèr mte than or {30,0) 160.661) 24,339 S,661 15.6611 155.CQO) 14,682 37.737 52,419 27 C•sh g•nernt•d trom11abrbe by) operatlons 2025 2024 Surplu51ldefi(all lor the year 59.772 1353,3551 AdItments fol: Investment income rtewised in statement of financial #clitieS Donated fixed os#cts Depreoation and impawmenl of tangknle fixed a55ets 1281 110.CK)01 3,333 110) M+)vem•nts In WOTklng P14. Ilncreaseydecr8a58 in dotrrts IDeLT8a581 in cr8ltilors In¢r¥$& In deferred income 141,8141 185.9671 112.413 111.9871 Cash genoratod fronvlabwrbed by) operatlons 37.709 1304.7721