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 n￿nber
1112621
Company number
05608022
PrfncSpal address
6th Floor
1 Canada Square
London
United Kinoaom
E14 5A8
R*glstw¢d offi¢e
6th Floor
1 Canada Sw8re
London
United Kingdom
E145AB
Independent examSner
Azets Audit Ser¥*e$
ÈstpoSnt
Lynch Wuod
Pete￿Or0[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 fin￿ClaI statements for ihe year eThaed 31 Dècèmber 2025.
The fjnanrial stat¢m¢nts ha￿ been pr¢pared In accordance wthh the ac￿￿ntIng policies set wl in rtrJte 1 to the
financial statements an¢J comply with the c*aritable ¢ompany'$ governing dor#Jment, the Companles A¢t 2006 a￿1
'A¢￿Untirw and Repo￿"n￿ by Chariti*s: Statemsnt of RecomMe￿Ie1 Pradce applicable to tharities preparing their
alxounts In aCt￿￿an￿ wth the Firtancial RepNbng Standard applicable in the UK a￿1 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￿$9 to
eduration. and created safe, resilient buildings ts some of th2 workl'g most vulneTable communities. From th
t))mpletKJn of Ihe fulfy off grid Kao La Amani Children's Village in Tanzania to major progress at the Montseffat
Nation81 Hospital. from the re(lesign of critical fariltbes in Nepal lo the development of masterplans arml nv
althcara prolects In Laos and K￿Ya. Ihls pwiod reflects both thè scalè and depth of ourmission in action.
Thls pericd has not been without Its chalenges. Ongoing economic ¢haRenges have crealed pr¢ssuT95 aL¥os$ 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$ive need with fir￿te
sources. mthing carefvl decision5 to ensu￿ that our efforts remain bc¢h impactful and sustainable.
A highlight of this period has teen the grovrth and surLess of Ilore Than a Bullding, our eavporats supp)rter
netsyork made up of ¢tsrnparties across the built environment seclor. Their ex￿rtISe, support. and fin8no¥l
eommitment have strengthened the foundation of Artide 25. enabling us to plan long te￿, operate wth great8(
resilience, and deliver projects that meet the highest standards of quality and soaal value. More Than a Building
has devdoped into lar more than a funding stream,. li has become a cM)Ilab¢xatNe tommunty that share$ 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 actIvI￿8$
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 bene￿t requirement underthe Char*lies Act 2011.
Artirje 25 prowde5 building des19n sc4ubons 8nd key CA)r￿truc*"aon project management skills to the International
Dè￿lOpment ¢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 o*ectivès 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
r￿uIreM¢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 en￿rOnment 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¥ lOn￿tern re￿1$en￿. leaving behind
Community better able to budd safely for itself. We improve the lon*term perfomianee of a project by eng8ging the
end-U6ers from incèption to cA)Mplet￿)n. This positively affects the sustaiThgb'lity of a prqect Ènd builds the ¢aparyty
of those local partners who l*e tespon5ibility forth¥ projeLI and its sustainable operation.
Article 25 Is one of the lew organi￿tiOnS globally deliverin9 this technul woth ¥$ 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 lon*tem sustainabilty ol each proJe¢t to ensufe ¥ IBStirvJ impact is ¥¢hi$v*d.
Finon¢lal revlew
It is the polScy ol the charitable company that unre5tricied funds sthieh have not been designatÈd for a speafic use
should be maintained at a level equivalentto behveen threè and six month s expenditure. The tnjstees wn5id8rth*
reserves at this level will ensure that, in the event of a significant drop In funding. th￿ will be able to conkn.nue thè
¢h4ritrble eompany'$ current activities whlle conside￿10n55 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$eNes position. The trustees are WOFkiNJ to furthe¥ improve the reserves posKion over the ¢xming year.
struc￿re, gov•mance and managwnènt
Governinu document
The charity is controllèd by its goveming d￿ument, a Memprandum and Artides of AssocAation, and c#)nstitute$ a
limrted compary, limited by guarantee. as dBfined by thè Cotry)aniesAct 201￿.
Recrultment and appolntment of trustee$
The existing Trus￿eS 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 struC￿re
Our organisational structure cOMp￿Se$ 3 Board ofTftJ$iees. a SenK)r Man•9ement Team led by the Chl&f Exac￿¥¢
who ￿pOrtS to the Board. the Stsff and Volunteers. The team of staff and volurrteers is organised into projects ar¥J
d)w&ty management lindu(k'ng fvndraising and ￿mMunIcations1. headed by the Dlr8ctor of Proie¢ts and Chief
ExeoJtNe respectively. The Trustees during the period and subsequenly were..
D Bennetts (Choir)
Pcla
D J R DeJ8hunty
G Grainger
P P￿d$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￿$. Artide 25 receives the donat￿ of skills from Vario￿ professSonal par￿e$ who 08sI4 in the delivery of our
projects.
Art￿le 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 Signif￿nI tharity
resources are dedic*d 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 as￿Ssed 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¢y*ers,' they ate brrefed on pertinent tocal social issues and are
Inslructed to emer9eney ts)ntart detaas. E?th I￿ation 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 Pa￿￿p#te as stsff or ￿lUnteerS for Artic4e 25.
A￿"de 25 also has public liatilty and professlonal indemnty insUra￿è 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
[r￿re 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[xr￿enCe, Tha￿ra1 wa5tew8ter systerns, offering a model for
sustainable care environmènts.
Kao La Amani Primary Sthod EXpa￿on. 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-wrt￿d design and loCa￿Y 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 a￿ssib￿ das8room$, thefapy spacès, and outdoor play areas tailored to I￿1
community needs.
che￿ Sana Foundation Feasibllity Study, Tmnia
Wè completed a feas1￿.1[fy study explorirvJ options ft)r improving and expanding therapeLrtie and community-based
facilities foi Street children. The study pro¥Aded the dient with phased scenarios. costings, and a roadrnap for future
development.
Volcano Inieryetation Centre. Montserr8t
Vve have compl•ted the Concept Design for opl'ony tor this cultural centre, which wll house and disF4ay the
listory ofthe Soulrieie Volcano erwtlons and its impact on MontsÈrratians and Ihe county.
New Natsonal Hospital. IAontserr8t
Construction has started on Mont5errat's New National Hospital, a pri¥eit designed, a state-of-the-art laality on the
site of the existiNJ Glendon Hosprtal, desiynèd to improve re81llen￿ and modernize the islancl's hgallhcare
infrastrucluTé_
Anandaban HO$￿￿1 Research Labotatory. Nep81
After Stomis and landslides impacted Ihe original site, wè redesigned thg laboratory fly 8 safer, newly secured
localton,
Khammou￿e 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 Bu￿dIng
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 un￿stricted.
pr¥Jiclabl¥ income over ts comng ye8r.
We would like to eX￿d a hup thank you to our More Than ¥ Buildlng Ambass8dNs and More Than a Building
members.
Support from gènerous Indlvlduals
We continued to r￿1v• sIgnift￿l donallon$ Irom indivldual$ INS year- and wo would Ik8 to thwk major
donc*rn forthew contin(￿d generosty towwds Art￿e 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 serV￿S provided by our parln8rs.
Thè StstÉn*nt 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@t￿￿ents.
Nonè of thè trust•as has any be￿cIal 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
Ov5￿bY 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 coM￿nieS
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 Th￿C￿"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 finan￿al statemenls give a true and fair view. which is not a matter
considered as part of an independent examination., or
the financial sta￿MentS 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 chari￿5 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
s￿JU1￿ 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
Donat￿n3 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 be￿88n fund5
93,795
193.7951
N•1 *nEom•ll￿pendIiUlÉ) 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 reCogni￿d 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 w*h the requirerwits lor ¥n exponthture
undgr the coMpan￿A¢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 req￿TeMents of the Compan￿5 Ad 2006
wrth ￿spect to accDtJnting records and the p￿paratson Offinan￿al st*ernerrts.
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 p￿pared in accordance the pr￿lSIonS applicabJ8 to c￿nIeS 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 re￿iVed
28
10
Not rash gènernted from Inv•sting
actlvlties
28
10
Flnanclng •¢bV￿￿é8
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 gu*antee 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 pr￿ented 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
fin￿cta1 stalement$ linduding Ihe relal•d notes) are not entirety comparable.
1.2 A￿0￿￿tIng 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 ¥p￿lfable 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 1ml￿d 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 h1stori￿1 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, r￿ethA9 eost-¢uttin9 in a4 2024 and Q1
2025 the balance sheet al the pefiod end was 51111 negative, ShO￿Yn9 a deficil tsf £35,319.
At 31 December 2025 the chariiy had two main external LYeL*tor5'.
i". A t¢mi k)an of £55.000, which is repayable on 12 mnlhs written noti￿ lo [Q￿y. As at the date ol ?pproval
of the fmancial st*er￿n15 no $uch noifjts had been issued.
ii.. A Cowd bounce back loan of £5.661 which is being repaid monthly through to the summer of 2026.
During the year a ¥hort teim loan of £20,000 and a tht'rd party deb(, of approximately £90.000 were cleared.
As at 31 December 2025 creditors Ir￿ude￿ (kferr¢d incA)me 01 £112.41312024'. £nill whSch will be credit¢d lo
incomè in 2026.
The T￿￿tee3 havt prepared a easmow which 1ndL￿e5 the inyact of a number of expected prc4ecis an(J
showy thè charity remaining cash pjsilive for the next 12 wrrfJnlhs. Trrefore at Irmg of approving the
finanoal statements, the trustees have a re8sona￿e expecaation that the charitable company has adequate
resour￿8 to o)nlinue in operalional existenc£ for the fore5eeabte futwe. On this basis. the Trustees continue
to adDpt the going cf1n￿M basis of accounting in preparing the finanaal statemtnts.
1A Charftsble fvnds
Unrestricted funds are availatsle for use at the di5crelion of Ihe injstees in furlh•fanc8 of their c*ariWle
objedives.
Réstncted funds are wbiect to speciffc conditsons by donors or or8ntor$ as to tnèy may bè used. The
pU￿OseS 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 In￿MÈ 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 re￿tIOn to donalions received under Gbft Aid or ¢Jeeds ol covenant is rncognised al the time of
the donation.
Legacies are recognised on receipt or Othe￿ise 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 ai*wty. 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
epre￿ats"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
indicat￿n 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 h￿d, 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 InStru￿nts
The charitable Company has eleded to ap￿Y 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 d￿lItable corTynl$ balan¢e sheet the charitsble cknmpany
beC￿meS pwty to the contr*ual 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$, a￿ initially Measur￿ at
transaction price inc4￿jIng transaction costs and are subsequently carr*d at an>Jrtised cost Using the effective
inlerest rnet￿ unless the arrangement Constitu￿$ a financin9 tr￿sact￿)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 I￿trUMent 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 CO￿2ny,S contractual ob￿gationS 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 Charrt￿le Company 1$
demonstrably committed to temiinate the employmenl ol an employee or to prowde teminabon benefits.
1.12 Rètlrnmènt b•neflts
Payment8 to defined cC￿tri￿ArtiG￿ retIre[r￿nt 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$, the truslees s￿ required to make
udgements. estimates and assumptions about the carrying omount of assets and liabilit￿S that are nol readily
apparent from other sources. The estimates and assoaated assumptions are based on historical experience
and ottrw factors that are considered to be relevdnt. ALtsal resutts may ¢Jiffer from thèse estimates.
The estimate5 and underfying assumptions are rewewed on an tsngoing basis. Revisions to accountin9
estsmate8 #re fecogr115ed in the period in which the estimate is ￿vISed where the revision aftect8 only that
period, of in the period of the revi￿on and filt￿e perK)ds where the revi$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 gL￿d$ 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
Un￿strIcted 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 pU￿1CitY
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
ReStr￿ted 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$
A￿o￿ntan
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{c￿Itingl-.
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 re￿￿neratIon or ￿nefIts from th&
charitable company during the year.
11 Empkye
The average monthly number of employees during lhe year was..
31 Do¢•m￿r 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)
re￿IVed 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 bo￿owingS
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 bOffO￿n9$
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 D￿Mb￿r 31 Dgcember
2025
2024
D8flned contribution srherno
Charge to profil or Jos$ in resptrct of defined COntr￿UtIon 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..
210￿mb￿r 31 December
2025
2024
thin one year
Be￿en 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•rt￿ry
2025
C••hllDWS At31 OEr*Bbv
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 mt*e 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 trom11ab￿rbe￿ by) operatlons
2025
2024
Surplu51ldefi(all lor the year
59.772
1353,3551
AdI￿tments fol:
Investment income rtewised in statement of financial #cli￿tieS
Donated fixed os#cts
Depreoation and impawmenl of tangknle fixed a55ets
1281
110.CK)01
3,333
110)
M+)vem•nts In WOTklng ￿P1￿4.
Ilncreaseydecr8a58 in dotrrt￿s
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