Charity registration number 1116773 Company reglstratlon number 05822301 (England and Wales) HALOW PROJECT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 HALOW PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Trustees MDay S Hill M McArthur R Meins T Oliver N E F Butcher A Edward (Appointed 10 January 20251 Secrolary Mr R Melns Non4tstutory Dlrector Nr N Wheeler Dlrector of halow project servlces Charlty number 1118773 Company number 05822301 Reglstered offl¢a Carroll House 11 Quary Street Gulldford Surrey Unlted Klngdom GU13UY Audltor Azets Audit Services Ashcombe Court Woolsack Way Godalming England GU71LQ HALOW PROJECT CONTENTS Page Trustees report Statement of Truslees responsibilltles 10 Independent auditols report Statement of financlal activities 14-15 Balance sheet Slatement of cash flows 17 Notes to the financial statements 18-33 HALOW PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance wilh the accounting policies set out in note 1 to the financial statements and comply with the Charity's memorandum and articles of association. the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of R8commended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive 1 January 2019)" Objecllves and actlvltlos Overall purpose "(8) To provlde educ8tlon, trainlng, care and accornmodatlon and olh&r support ser41ces to persons with perm8n8nt learning disabilities and others who hav8 charitable n88d for such seNices with the object of dev8loplng thelr mental, physic81 and spiritU81 c8P8cilies so thal they may realise their full potenlial 8s individu818 8nd m6tmbers of society and Ihat their condition for life may be improved.. and (b) ¢0 undertake any other chari18ble activity." Memorandum and Artlcles ofAssocSation Incorporat8d on 19 May 2006 as amended S October 2006 The principal activlty of the charity Is to provlde benefit lo young people wlth a leamlng dlsablllty In Surrey and the surrounds. Maln actlvltles Halow Project (halow) is a registered charily dedicated to creatlng opportunities and supporting young people aged 16+ with a leaming disability so that they are able to live independent, meaningful, fulfilled Ilves and become more involved in their local community. halow provSdes speciallst, person-cenlred support and activities and our aim Is for every person with leaming disabilitie5 to have the same life choices and chances as any oth8r person. The young people we work with wanl the opportunity to: Bulld relatlonshlps Become part of th8 community Find meaningful employment Have a home oflheir own Our four core areas of activity are as follows.. 8ulldlng Futures: is halow's full-time. communily-based leaming programme for young adults aged 18-25 wilh a learning disability in Surrey. Distinct from traditional educationa5 settings, the programme is designed around communily immersion ralher than a fixed curriculum. It focuses on person-c8nlred planning lo achieve tailored outcomes for each participant. The programme aims to empower young people lo shape their own futures by fostering independence, supporting continued leaming, and offering meanin9ful social and work- based experiences. A Reason to Get Up: A programme which seeks to develop the skills leamt by service users In Building Futures by developing their interests for further independence and employability. It supports them in teaming new life skills that can help them find a satisfying vocation. Currently the 4 sessions provided are Cook and Grow, Crafty Creations, Fit Club and IT Crowd. The programme also provides a rang8 of social activities which enable people to enjoy an active socia5 life, make new friends and become part of their community. Independent Support Programme: An intensive 10-week programme with 1 to 1 support which enables each young person to set their own goals an(1 prepares them to live independently. Supported Living: halow provide staffing for 5 supported living houses across Surrey to support our young people to live independently. HALOW PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Many of our young people are referred to halow by the local authority and are funded for some of the programmes they access. Our remaining costs are covered through a mixture of individuals, fees and fundraising. Statement of Compliance wlth Charlty Commlsslon guldance The Trustees have paid due regard to guidance issued by the Charity Commission's guidance on public benefit and what activities they should undertake. Achlevements and Perfomiance From April 2024 to March 2025, halow supported 344 (previously 326} indivlduals across our services. representing a 5.SO/• increase in people supported on previous year. Many young people use several of our servlces wilh the breakdown per service as follows.. No o18ttnoliciories •Anr Soclal Actlvllies 203 people b8n8fltted from our range of actlvltles . A Reason to Get Up (ARTGU)- 57 people attended our regularARTGU sesslons Building Futures- 48 people were supported on our educational programme Independent Support Programme (Buddy Service)- 27 people were supported to grow In Sndepend8nGe Supported Living 9 people supported intensively lo live independently In total, halow dellvered 7,698 hours of soclal and learnSng actlvities and flexlbly provided 26,462 hours of car8 within Supported Living and 4882 hours to 27 Indlviduals In the communlty through the Independent Support Programme. One of our serySces, our Supported Llvlng servlce, Is regulated by the Care Quallty Commlsslon (CQC) where we scored "good. across all assessment areas In our last inspection120221. Our reach has grown significantly over the past year, partlcularly wlthln our educational and lifestyle programmes- Building Futures. A Reason to G8t Up, and Social Activities which co118Ctively saw an 8.40/0 incréase in the number of Individuals supported. This is a testament to Ihe impact and relevance of our work within the community, However, with around 21.000 people in Surrey living with a learnlng disabllity and fewer than 4,000 currently known to Surrey County Council, th8 n88d for inclusive, community-based support continues to far exceed available provision. Organisations like halow are critical in bridging this gap, offering a range of seNices from social activities that reduce loneliness and build confidence, to more intensive support such as supported living. Despite our continued growih, we are facing mounting challenges. Ongoing financial constraints at Surrey County Council have resulted in continued underfunding, while Ihe economic instability of 202412025 has led to a significant decline in fundraising income. As we look ahead and refine our strategy. we remaln acut61y aware of the need to balanco our response to local demand with the reality of our limited resources. Our focus remains on delivering hlgh-lmpact, person-Gentred support to people with a learning disability - but dolng so sustainably. and with resilience, in the face of increasing pressures. HALOW PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Over the past year. the Halow Project has seen a vibrant and diverse range of fundraising activities that have significantly contributed to our mission. Our Challenge events, including marathons, cycling events and treks, inspired supporters to push their limits while raising vital funds. We strengthened our partnerships with corporate supporters. who not only provided financial backing bul also engaged their teams in volunleering and matched giving initiatives. Key events such as our annual karting and golf days were standout successes. bringing together our community for fun and fundraising, while also raising awareness of our work. Additionally, we secured generous support from trusts and foundations. whose contributions have been instrumental in sustaining and expanding our service5. Together, these efforts have helped us continue empowering young people with leaming disabilities to lead independent and fulfilling lives. Staff & Volunteers In addition to the 77 halow staff (equal to 41 FTE) who work to support young people, we are Indebted to tho 37 halow volunteers who support the organisation In its work on a regular basls. Our volunteers tak8 part In th8 daytime actlvity and léarning programmes enabllng more young people to tak8 part. They ar8 SUPPOrted wlth trainlng and compl818 OBS checks. STAFFING BRÉAKDOWN In addition to our regular volunteers, we benefit from the 5UPPOrt of 31 additional volunteer contacts from local businesses who assist the organisalion in various ways, including ad hoc fundraising. Corporate and community volunteers play a vital and growing role In supportlng our Inltiatives, bringing with them a rlch and diverse range of skills, experiences, and perspectives. Thelr contribullons extend well beyond financlal support, encompassing th8 delivery of targeted skills training, mentorlng, project-based support, and hands-on Involvement In soclal and community-based activities. This broad sp8clrum of input not only enhances Ihe quality and reach of our services bul also creates meanlngful opportunities for collaboratlon and shared learning. Recognislng and valulng th8 dlversity of volunt8er involv8menl is key to the slrengih of our programmes, helping us bulld more Incluslve, innovative, and connected approaches that benefit both th8 young people we support and the wlder communlty With the charity experiencing a growing demand for our servlces. and to meet this need, we urgently require more volunteers. With additional hands. we can expand our reach, offer more support, and continue to provide vital resources to those who depend on us. Th& success of our programs relies heavily on the dedication of volunteers, and with more support, we can make an even greater impact. The Trustees (Company Directors) are pleased to report progress in those areas identified within our 2024-25 plans, namely: HALOW PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Challenges to the Charity 202412025 The financial year 202412025 has proven to be one of the most difficult periods for the charity sector In recent memory. We have faced a convergence of financial pressures that have threatened both our operations and our ability to support vulnerable communities. Despite previous efforts to secure more sustainable funding, a combination of economic and adminlstrative challenges has led lo a sharp decline in available resources. The ongoing cosl of living crisis has significantly impacted our fundraising capabilities. Rising inflation and energy prices have nol only increased our operational costs but also reduced public capacity to attend or support fundraising evenls. Many events scheduled for 202412025 were cancelled due to low ticket sales or insufficient sponsorship, directly affecting income streams. The lack of face-to-face fundraising opportunities has further exacerbated these issues, In October 2024, Surrey County Councll approved Increased fundlng rates for a supported Ilvlng. However, significant delays in the disbursement of these funds have caused operatlonal straln for us whlch were relylng on this support. The uncertainty around funding tlmellnes has made It difficult for us lo plan effecllvely, forcing US to scale back services or delay important projects despite budget approvals already belng In place. According to recent data released by the Charities Aid Foundation {CAF}, both personal and corporate donations have seen a marked decline throughout 2024 and into 2025. Economic inslabilily has resulted In households reducing discretionary spending, including charitable giving. Similarly, many businesses have cul back on their Corporate Social Responsibility ICSR) budgets, reducing sponsorshlp and grant opportunlties for nonprofit organisalions. As a result of these compoundlng challenges. many charitles have experlenced a tough flnanclal y88r. Th8 shortfall In Income has led to., Reduced staffing or redundancles Limited outreach and seNlce dellvery Delays in programme development Increased reliance on emergency reserves or short-tem borrowing Th8S8 financial strains com8 at a Ilme when demand for the Charitable services Is Increaslng 202412025 has highlighted the vulnerability of the charity sector to wider economic trends and administrative inefficiencies. Without timely intervention, renewed public support, and more responsive funding mechanisms, many charities may face ongoing difficulties in meeting the growing needs of the communities we serve. Collaboration between government bodies, donors, and third-seclor organisations will be Crucial in rebuilding financial stability and ensuring the sustainability of critical charitable work in the years ahead. As we reflect on 2024. Ihls revlew provldes an opportunlty to assess how effectively our Gharity has progressed toward its goals. Over the past year. we have conlinued to focus on our core mission whlle adapting to new challenges and opportunities. This report outlines the key objectives sel for 2024. evaluates our achievements, and highlighls areas where further growth and improvement are needed. Through transparency and accountability, we aim to strengthen our impact and inform our plans for the year ahead. HALOW PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1. Continue to deliver hlgh quallty, Innovatlve. and person {effective 1 January 2019).. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterfing, which Is the functional currency of the charity. Monetary amounts in thesé financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost conventlon. The prfnclpal accounting poIici8s adopted are set out below. 1.2 Golng concern The charity has remalned In a surplus at the year end. Looklng ahead to 2025126. the charity antlcipales more predictable funding, potential improvements in the wider economic environment, and benefits from slrenglhened internal planning. These factors place halow in a stronger position to gradually rebuild its reserves and progress towards e more sustainable long-term financial position. Accordingly, at the time of approving the financial statements. the Trustees have a reasonable expectation that the charity has sufficlent resources to continue It5 operatlons for the foreseeable future. Thus. the Trustees continue to adopt the golng concern basls of accountlng In preparlng the finanGlal statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specSfic condStlons by donors as to how they may be used. The purposes and uses of the restricted funds ar8 Set out In the notes to the financial stat8ments. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfonnance conditions hav6 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 ar8 recognised once the charity has b88n notified of the donation, unless performance conditlons r8quire deferral of the amount. Incom8 tax recoverable In relation to donations r8ceiv8d under Gift Aid or deeds of covenant Is recognised at the time of the donation. Legacies are reGogni5ed on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. Buddy Support Services and Supported Living income is included in the financial stalements as it becomes receivable. 18- HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policias (Contlnued) The charity receives govemment grants in respecl of projects aimed at vulnerable young people. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been mel, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred, 1.5 Expendlture Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure is Incluslve of VAT. Costs of g8n8rating funds comprlse the costs assoclated wlth attractlng donatlons and legacles and the cost of trading for fundraislng purposes. Charitable expendilure comprises those costs Incurred by the charity in the delivery of its aclivitles and service for ils beneficiaries. It includes both costs that can be allocated directly to such seNices and those costs of an indirect nature necessary lo support them. Grants offered subjecl to conditions whlch have not been met at the year end dale are noted as a commitment bul not accrued as expenditure. Support costs are allocated between charitable actlvltles on the basls of the proportlon of staff worklng on each actlvity as follows.. Supported Llvlng - 36 % {2024: 19.9 % ) Buddy Support SeNl¢es- 10P/o (2024: 19.9 /0) Buildlng Futures - 400/012024.. 39.90hl A Reason To Get Up - 90/0 (2024.. 10.50/0 Information and Awar8n8ss Ralslng - 00/0 {2024.' 3.40h) Fundraising- 50/0 (2024.. 6.40/9) 1.6 Tanglble flxed a88ets Tangible fixed assets are inltially measured at cost and subsequently measured at cost or valualion, net of depreciation and any impairment losses. There is a minimum threshold of £250 for capitallsing fixed assets. Depreclation Is recognSsed so as to wrlte off the cost or valuatlon of assets less their rasldual valu8s over th85r useful lives on the following bases: Fixtures and fittings 25 % on cost The gain or loss arising on the disposal of an asset is determined as the dlfference be￿88n the sale proceeds and the carrying value of the asset, and is recognised in the statement of financlal activities. 1.7 Impairment of fixed assets Al each reporting end dale. the charity reviews th8 carrying amounts of ils 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 ca6h equlvalents Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-temi liquid investments with original maturili8s of three months or18ss, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 19- HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles (Conllnued) 1.9 Financial Instruments The charity has elected to apply the provlsions of Sectlon 11 '8aslc Fin8n¢lal Instrum8nts' and S8Ction 12 'Other Financial Instnjments Issues, of FRS 102 to all of its financial instrum8nts. Financial instruments are recognised In the charlty's balance sheet when the charlty becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statem8nts. when there is a legally enforceable right lo set off the r8cognls8d amounts and ther& Is an Intentlon to settle on a n81 basis or lo realis8 th8 asset and settle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which Include debtors and cash and bank balances, are Initlally measured at transaction price including Iransactlon costs and are subsequ8nlly carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al 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. BaslG flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing transaction, where the debt inslrumenl Is measured at the present value of the future payments discounted at a market rate of interest. Financial Ilabilities classified as payable within one year are not amortised. Trade creditors are obligalions lo pay for goods or services that have been acqulred In the ordlnary course of operations from suppliers. Amounls payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current Ilabilities, Trade creditors are recognised initially 81 transaction price and subsequently measured at amortised cost using the effective interest method, D•r•cognltlon of financlal Ilabllllles Financlal liabilities are derecognlsed when the charlty's contractual obllgatlons explre or are dlscharged or cancelled. 1.10 Taxatlon The charity Is exempt from corporation tax on Its charitable activities. 1.11 Employee bonoflts The cost of any unused holiday entltlement Is recognised in the perlod In whlch the employee's servlces are received. Termination benefits are recognised immediately as an expense when the charity Is demonstrably commltted to terminate the employment of an employee or lo provide temiination benefits, 1.12 Retlrement beneflts Paymenls to defined contribution retirement benefit schemes are charged as an expense as they fall due. -20- HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donatlons and logacies Unr•slricted Rostrlcted funds funds Total Unr8Stricled Restricted funds funds Tolal 2025 2025 2025 2024 2024 2024 Donations and glfts Grants receivable 205.185 1,955 9,800 214,985 1,955 374.071 1,200 7.150 381,221 1,200 207,140 9.800 216,940 375.271 7,150 382,421 Charltablè act5vltlog Bulldlng A R•ason To Future¥ Gét Up 8uddy Support S•rvlcfjs 8upport•d Llvlng Tolal 2025 Total 2024 202S 2025 2025 2025 Income from charitable activities 909,196 189,508 115,502 761,434 1,975,640 1,806.808 Analysls by fund Unreslricted funds Restricted funds 905,696 3.500 132,491 57.017 115,502 761,434 1,915.123 1,737,034 60.517 69,774 909.196 189,508 115,502 761,434 1,975,640 1.806,808 For the year ended 31 March 2024 Bulldlng A Rea•on To Futurns G•t Up Buddy Support Sèrvlces Support•d Llylng Tot41 2024 Incom8 from charitable activities 794,313 173,828 89,606 749,061 1,806.808 Analysis by fund Unrestricted funds Restricted funds 788,139 6,174 113,228 60,600 86,606 3,000 749.061 1,737.034 69,774 794.313 173,828 89.606 749.061 1,806,808 21 HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fundralslng activitles Unrastrlcted Unroslrlctèd fund$ funds 2025 2024 Volunleer-led fundraising Fundraising events Trading 74,190 184,187 248 297,369 71,621 594 Fundralslng actlvllles 258.605 369.584 -22- o (y 0> c*> a) Ln ¢Doo c c HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governance ¢osts costs 2025 Support Governanco costs ¢ost$ 2024 Staff cosls Depreciation Operating lease charges Pr8mis8S Costs Computer costs Printing, postage and telephone Staff welfare and expenses Sundry expenses Bank charges Bad d8bts 363,828 10,139 40,800 46.800 29,486 363,828 10,139 40,800 46,800 29,486 378,717 10,938 40,463 45,225 22,672 378,717 10,938 40,463 45,225 22,672 19,046 19,046 17,598 17,598 27,914 1.090 499 {3.8341 27,914 1,090 499 {3.834) 29,644 4,386 576 70 29,644 4,386 576 70 Audit fees Legal and professional HR and other consultancy 14,473 14,473 19.194 1.310 19.194 1,310 82.643 62.643 5.560 5.560 535,768 77,116 612.884 550,289 26.064 576.353 Analysed between Fundraising Trading Charitable actlvltles 26,787 26.787 3.856 582,241 35,053 35.053 1,660 539,640 3.856 73.260 1.660 24,404 508,981 515,236 535,768 77,116 612,884 550,289 26,064 576.353 Not movom•nt In funds 2025 2024 Net movement in funds is staled after chargingl(crediling) 08precialion of owned tangible fixed assets Operaling lease charges 10,139 40,800 10,937 40,463 -26- HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Audltor's remuneratlon The analysis of auditor's remuneration is as follows: Fees payable to the charlty's auditor: 2025 2024 Audit of the Charity's annual accounts 12,000 11,100 Other serilces to the charlty Non-audit services 2,100 1,620 Total audlt fees 14,100 12,720 10 Tru8teo$ None of th8 Trustees (or any persons connected with them) receSved any remuneratlon durfng the year. There were no reimbursments made to any trustees for travelllng expenses (2024 - £8071. 11 Employees Number of employee8 The average monthly number of employees durlng the year was.. 2025 Numbor 2024 Number Admlnislrative Fundraising Operational Management 77 71 88 83 Employment CO8t6 2025 2024 Wages and salaries Social security costs Other pension costs 1,863,475 154.999 46.444 1,700,208 141,334 43,654 2,064,918 1,885,196 The number of employees whose annual remuneralion was £60,000 or more were: 2025 Numb8r 2024 Number £60,000- £70,000 -27- HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Taxatlon The charity is exempt from tax on income and gains falling within s8clion $05 of lh6 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. 13 Tanglblo flx8d assets Flxtur•• and Ilttlng• Cost At 1 Aprll 2024 Additions 79.907 14,390 At 31 March 2025 94.297 Depreclatlon and Impalrment At 1 April 2024 Depreclatlon charged In the year 65.925 10,139 At 31 March 2025 76,064 Carrylng amount At 31 March 2025 18,233 At 31 March 2024 13,982 14 Debtors 2025 2024 Amounts falllng dug wlthln one y•ar: Trade debtors Other debtors Prepayments and accrued income 133,422 683 124.311 101,022 43 87,019 258,416 188.084 15 Cr6dltors: amounts falllng du6 wlthln ono yoar 2025 2024 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 37,745 177,407 89,439 82,603 28,663 33,999 111.983 45,789 74,233 25,942 16 415,857 291.946 -28- HALOW PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Deferred Income 2025 2024 Arising from Deferred income 177,407 111,983 Deferred income Is included in the financlal statements in relation to services and future events involced in advance. 17 Retlremgnt beneflt schemes Definod contributlon schemos The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently adminlstered fund. The charge to profit or loss In respect of defined contrlbution schemes was £46,444 (2024 - £43.654), 18 Movement In Funds The income funds of Ihe charity include restrlcled funds comprislng the followlng unexpended balances of donations and grants held on trust for speclftc purposes,. Current year Movement In funds Incomlng R080urc08 Balanca at 31 re8ourco8 oxpendod March 2025 Balance at 1 Aprll 2024 SCC SEND Community Foundation Grant Clothworkers The Wisley Foundation Cathering Woolford The Julia & Hans Rausing Trust REDEVCO Foundation UNUM Insurance Industry Charitable Foundatlon Electronic Arts Hampshire Care Association ICB Funding Panel Bramley Golf Club Insurance Industry Charitable Foundation Other (<£1 k) 2,500 (224) {3,426) {9,800J {2,8981 (901 (39,3791 (12.6591 <2.8321 (2,7851 2,276 74 3,500 9.800 5,500 965 203 4,328 12,659 5,000 2,785 4,150 1,032 165 3,567 113 4,949 40,000 2,168 4,150 (1,032) (165) (1,068) {5,538} {2,800) 1,068 7.880 2,569 2,342 1,270 1,501 Total Restricted Funds 35.288 70,317 (84.696) 20.909 -29- HALOW PROJECT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 18 Movement In Fund8 (Contlnued) SCC SEND Funds received to be spenl on Building Futures promotion materials. The Bally Thomas Charltable Trust Funds received to be spent on costs and equipment forARTGU Cook & Grow sessions. Clothworkers Capital grant recelved to cover acquisition costs of ￿e1ve laptops. Communlty Foundatlon Grant Funds received Io cover costs for ARTGU IT Crowd sesslons. Natlonal Lottery Communlty Fund Funds received lo be spent on running costs of ARTGU Cook & Grow sesslons. Ironmongors Company Funds received to be spent on BFG Duke ol Edlnburgh equlpment. Sport England's Queen Platlnum Jubllee Funds to b8 SP8nl on sports groups for Soclal Actlvltles - coach fees, hlre facilitles, equlpment hSre and transport costs. The Wlslay Foundatlon Funds recelved to Cover costs for ARTGU Cook and Grow sesslons for 2 halow adults. Cathorlne Woolford Funds to be spent on 8FG shed. No Fear Brldge Funds to be spent on BFG activities. The Julla & Hans Rauslng Trust Funds received to be spent on ARTGU Cook and Grow sessions. REDEVCO Foundatlon Funds received lo be spent on ARTGU Crafty Creatlons. UNUM Funds received lo be spent on ARTGU Life Skills (Independence and Employability) course. Insurance Industry Charltable Foundatlon Funds lo be spent on 8FG public transport for training purposes and ARTGU IT Crowd project. Ele¢tronl¢ Arts Funds to contribute to the costs of Its programmlng and lo fund at least 1 volunteer event to engage our employees in their mission. Hampshire Care Assoclatlon Funds received to be spenl on international recruitment. ICB Funding Panel Funds received to be spent on Care Digit81 Transformation Fund- Implementation of Sekoia. Groundwork (Tesco Communlty Fund) Funds received to be spent on BFG Woking Rallway project. Mlddlesex Sports Foundatlon Funds to be spent on Social Activltes Sports Group. Bramley Golf Club Funds received to b8 Spent forARTGU pantomine. Other This consists of immaterial restricted income funds. -30- HALOW PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Movement in Funds (Contlnued) Prlor year Movement In funds Balanco at 1 Incomlng Resourcos Balance at 31 Aprll 2023 rosources expended March 2024 Communlty Foundation for Surrey SCC SEND The Bailey Thomas Charitable Trust Community Foundation Grant National Lottery Communlty Fund Ironmong8rs Company Sports England's Queen Plallnum Jubllaa The Wisley Foundation Catherine Woolford No Fear Bridge Other {<£1 kl The Julia & Hans Rauslng Trust REDEVCO Foundation UNUM Insurance Industry Charitable Foundation Electronic Arts Hampshire Care Associatlon ICB Funding Panel Groundwork (Tesco Community Fund) Mldd18S8x Sports Foundatlon 2,500 15,000 5,241 5,652 2,840 49 1,333 521 3,000 1,778 2,500 (15,000) (5,241) (5,652) (2,840) 149) {368) (318) (3,000) (2,392) (35.672) 965 203 2,115 40,000 12,659 5,000 5,000 4,150 3.000 3.000 1,000 1,000 1,501 4,328 12,659 5,000 2,785 4.150 1,032 165 (2,215) (1,9681 (2,8351 {1,0001 (1,0001 Total Rgstrlcted Funds 37,914 76.924 (79,5501 35,288 19 Analysls of net assets between funds Unrestrlcted Restrlcted funds fund8 2025 2025 Total Unr•slrlcted Rostrlcted funds funds 2024 2024 Total 2025 2024 Fund balances at 31 March 2025 are represented by.. Tangible assets Current assetsl(liabilitiesl 18,233 23,203 18,233 44,112 13,982 311.411 13,982 346.699 20,909 35,288 41,436 20,909 62,345 325,393 35,288 360.681 31 HALOW PROJECT NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Operatlng lease commltments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: 2025 2024 Within one year Be￿een and five years 47.430 21,120 40.800 52.800 68,550 93.600 21 Related party transactlons Ourlng the year, £54,00012024.' £nll) was pald to Ignltlon Human P8rfomiance Ltd In respect of consulllng services relating lo a strategic buslness revlew. N Butcher, a trustee, is a dlrector of IgnStSon Human P8rformance Ltd. These servlces wer8 provided at an open market rate and were In the best Interest of the Charity. The Charity has followed the Charity Commlsslon guldance on paying 8 trustee for provldlng services. Durlng th8 year. £754.60 was pald to a family member of R Malns, Trustee, for conference room space. Remuneratlon of key management parsonnel The remuneration of key management personnel is as follows. 2025 2024 Aggregate compensation 78.145 74,665 22 Company Ilmlted by guarantee halow project is a company Ilmited by guarantee and accordlngly does not have any share capital. Each director has pledged lo contribute £1 in the case the charitable company becomes insolvent. 23 Charges held A charge is held by Propety Inveslment Holdings Limtted for the sum of £8,519 (and such other sums as may be deposited by the company from time to time pursuant to the temis of the said deed) the interast from time to time accrued and any sums from time to time deposited in respect of value added tax. -32- HALOW PROJECT NOTES TO THE ACCOUNTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 24 Cash generated from operatlons 2025 2024 IDeficit)Isurpus for the year 1298,336) 85,871 Adjustments for.. Deprecialion and impaimient of tangible fixed assets 10,139 10,937 Movements in working capital: (Increase} in debtors Increaselldecrease) in creditors Increase in deferred Income (70.332) 58,487 65.424 (42,178) (22,589) 69.079 Cash (absorbod by)Igeneratod from oporatlons (234,618) 101.122 -33-