Company regisiraiion number: 06407883 Charity registration number.. 1122662 Promise Inclusion Limited (A company limited by guaranlec) Annual Report and Financial Statcmcnts for thc Year Endcd 31 DeGemb¢r 2024 Vale & West A¢countan¢y Services Limited Victoria House 26 Qu¢cn Victoria House Reading Berkshire RGI ITG IIIIINllii •AEC6U05E* 3010912025 COMPANIES HOUSE A8
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Promise Inclusion Limited Contents Trusiees, Report 1105 Independent Examiner's Report Stsiement of Financial Activities Balance Sheet Notes io the Financial Statements 9t015
Promise Inclusion Limited Trustees, Report The trustees,. who are directors for the purpose5 of company law. present the aTmua] report together with the financial sts¢¢m¢nts of the charitable company for the year ended 31 Deeember 2024. Objectives and g¢livities Objects and aims The relief of people with a learning disability andlor associated disabilitie5 in particular by the Provision of help and support for them and their families, dependants and carers. To provide or assist in the provision of facilitie5 for the recreation or other l¢isur¢ lime occupaiion for people who need thereof by reason of learning disability with the obj1 of improving their condition$ of life. ObJective%, slra¢egies and activitie5 Organising and managing various projects, Cvcnls and activitiC5 designed to achieve the above obj¢¢tives. Public benefil As a small charity. below the Charity Acl's audit threshold. the trustees, report focuses on the main activitie5 undertaken by the Charity to further its charitable purposes for the public benefit. The Objectives and Activities section provides a summary of the a¢livili¢s which hav¢ all b¥en undertaken for the public benefit. Although the Charity is rc5triGled lo ils 8eographic area of Wokingham, Brarknell and their surrounding districts, it IS designed to provide support 10 p¢opl¢ with a learning disability and their families, d¢pendants and Carers. ils support and aclivili¢$ are open to all wiihout further rc5triction. Any fees charged lo members and participants are at mark¢i. rate, as we do now make more than a nominal charge for som¢ aclivilies. The trustees eonfirn that Ihey have Complied with the requiremen1$ of section 17 of the Chariti¢5 Act 201 I to hav¢ due regard to ihe public benefit guidance published by th¢ Charity Commission for England and Wales. Use o/volunleers The Charity relies on voluntary help for a varicty of tasks. This includes specific tasks on a r¢8ular basis such as The Trustees and the people who help or run our clubs and activities, as well as those who update the website or undertake one-off fundraising challen8cs. On an ad hoc basi5 volunteers help with office tasks such as.. stuffing envelopes, dala enty. making lea, helpin8 at fundraising events. $Ortin8 out tombola items and doin8 tin shakes. Achlevements 4nd perform4n¢e The Charity has continued io run a number of successful events and activities within Wokingham and Bracknell and their surrounding dislricls including family liaison work. activity clubs for children and 3dult5. events and outin85 for carers and families of children and adults with learning disabilitie$ and other charitable activities. The Charity continued to offer in-person activities and services with the option of online participation. if required or necessary during 2024. Page I
Promise Inclusion Limited Trustees, Report FlnAnci*I revlew Funding continued lo be extremely hard lo obtain in 2024 as many charities continued to tsrget the funding available and the criieria remained more stringent than in previous years. Through a lot of hard work we managed io achieve £59k above our 2023 Incom¢. Expenditure increased by £36k due mainly lo the impact of the annual increase lo the Nationai Minimum Wage and the additional member of staff funded by the National Lonery Grant. W¢ finished the year with a deficit of £9k for the year. Providin8 adequate funding for the Charity's many services remains a very considerable ehallenge and presents the greale51 risk to the Society's conlinued survival in the long terTiI. The Charity is dependent upon various grants and in particular funding from Wokingham Borough Council and the National Lottery. The tsvo grants from Wokin8ham Borou8h Council cover a Family Liaison and Carers Service and Ihe Wokingham Carers Partnership, both contracts have been extended unlil 31 March 2027. The 8ranl s¢¢ured from the Big Lottery which funds two existing Family Liaison posts (one in Wokingham and one in Bracknell) with a new po$1 in Bracknell also runs to 31 March 2027. The Charity was upecially grateful to Sand Martin's Golf Club which had chosen us Lq lis Charity of the Year for 2024 and prc5ented us with a donation of £27k. The Chwity ntinueS to seek funding from a vwiety of 8our¢es to maintsin ils suc¢¢ss in future projects and 1$ Fo¢us$ed on securing lonBer-lem funding to ensure stability for ihe Society. Pollcy on reserves The trusiees regularly review the reserve5 policies to ensure that they are at an appropriate level. In particular cash is maintained at a level to support the short and medium terni needs ot the ¢harity. Currently the trustees Bim lo keep free reserves al a level that will cover between three and six months of cosis. Page 2
Promise Inclusion Limited Trustees, Report Refer¢n¢¢ and AdminlstrAtlve Detai15 Charity Re8iStration Number.. Company R¢gistr81ion Number., 1122662 06407883 The chariry is incorporated in England & Wales. Waterford House Erftsiadt Court Denmark Street Wokingham Berkshirc RG40 2YF Registered OtTice'. Independent Examin¢r'. Vale & West Accountancy Services Limited Victoria House 26 Queen Vicioria House Reading Berkshire RGI ITG Ac¢ountants; Vale & Wesl Accountancy Services Limiied Victoria House 26 Queen Victoria Hous¢ Reading Berkshire RGI ITG Trustees and officers The truste¢$ and officers serving durin8 the year and 5in¢¢ (he year ertd were a$ follows: Tru5lces'. S J Hall, Chair J K Green. Treasurer P D Lowery T M Bradlaw (resigned 23 May 2024) E G Hyland (resigned 25 September 2024) P Timm {appoint¢d 23 May 2024) M Gardner (appointed 25 September 2024 and resigned 15 May 2025) J M Mcad (appointed 20 November 2024) PaBe 3
Promise Inclusion Limited Trustees, Report Structure? governxn¢t nd managemenl Nalupe oJgoverning documenl Promise Inclusion Limiied is a compAny limited by guArantee governed by its Memorandum and Articles dated 24 October 2007. It is registered as a charity with the Charity Commission. Recruitment and appoiMlmeAi oflruslees As sei oul in the Articles of A$$ociation the ¢hair of the trustee5 1$ nominated by the executive committee.Nominations for the election lo the executive committee are considered and voted uport at the Ayual Generol Meeting. The mLmM number of members of the ¢xe¢utiv¢ shall be no mor¢ than twelve. Mdjor risks andmanagement of those risks General risk mana8em¢nt The Irusiees have a duty to idcntify Bnd review the risk$ io which the charity is exposed and to ensure appropriate conlrol$ are in place to provide reasonable assurance against fraud and error. Slalement of trustees, responsibilities The irustee$ (who are a150 the directors of Promise Inclusion Limited foT the purposcy of ¢ompany law) 8r¢ responsible for preparing the trustees, report Ind th¢ finan¢ial $tai¢meni$ in a¢cordHn¢¢ with applicable law and Unil¢d Kingdom A¢counting Standards (United Kingdom Genernlly Accepted Accouniing Practice), includin8 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Aci 2006 relating io sm811 ¢ompanies, Company law requires (he trustees io prepare financial statements for each financia] year. Under Company law the trustees must not approve the finan¢ipl 5tatement$ unle5$ they are $alisfied that they give a true and fair view of the state of aff8irs of the charitable company and of the incoming resources and applicaiion of resources, including its income and expenditure, of th¢ Chwitable company for that period. In preparing these financial slalements, the trustees ar¢ required to.. Select suitable accountin8 policies and apply them consistently; obs¢rve the methods and Principles in ihe Charities SORP,. me judgements and estimates that are reasonable and prudent. stale whether applieAble accounting standards, comprising FRS 102 havc been followed, subjeel to any material deparlures disclosed and explained in the financial $talements' and prepare the financial statements on the going ¢oncem basis unless il is inapproprialc io Prtsume that the harilable company will continue in business. The trustees are respon5ibl¢ for keeping proper accounting records that ¢Bn disclose wilh reasonable accuracy al any time the financial posltion of the charitabl¢ company and enable them to ensure thal the financial statements ¢omply with the Companies Act 2006. They are also responsible for safeguarding the asscts of the charitable company and hence for taking reasonable steps for the preveniion and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporaie and financial infomlation included on the charitable company's websiie. Legislation governing the preparation and dissemination of financial 5tstements may differ from legislation in other jurisdictions. Page 4
Promise Inclusion Limited Trustees, Report Small ¢omp•nies provision s¢4lem¢nt Thi5 report has been prepared in accordance with the small companies regime under Ihe Companies Acl 2006. 25109125 The annual report Wa8 approved by the tNsie¢s of the charity on ................ ... and signed on its behalf by.. ktau Susaj) Hall (Sep 25, 2025 16..32.'02 GhST+ll SJHall Trustee Page S
Promise Inclusion Limited Independent Examlner's Report to the trustees of Promise Inclusion Llmlted ('tbe Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024. Responsibilities gnd basis of report As the ¢harity'S tnjstees of the Company (and Alyo ils directors for the purposes of ¢ompany law) you arc responsible for the prepar8tion of the accounts in accordance with the requirements of the CompAnies Ad 2006 ('the 2006 Act.). Flaving satisfied myself that the accounts of the Company are not required to be audited under Part 16 of thc 2006 Act and are ¢ligibl¢ for independenl examination, I report in respect of my examination of your charity's as carried oul under section 145 of the Charities Act 2011 {'Ihe 2011 Act,). In carrying out my examination I hav¢ followed th¢ Direction$ given by th¢ Charity Commission under section 145(5)(b) of the 2011 A¢t. l*dep¢ndent ¢xaminer's stAtem¢nt I have compleled my examination. I confimi that no matters have come to my attention in connection with the cxaminalion 8ivin8 me ¢au5e to believe.. accounting records were not kept in respect of Promise Inclusion Limited &$ required by Section 386 of the 2006 Act. or 2. the accounts do nol accord with thos¢ r¢cords' or 3. Ihe accounts do nol comply with the accounting requirements of section 396 of the 2006 Act other than any requirement ihat the accounts give a 'lrue and fair view, which is not a matter considered as part of an independent cxarnination; or 4. the accounls have not been prepared in accordance wilh the methods and principles of the Statement of Recommended Praciice for accounting and reporting by chariiies [appli¢able io charities preparing their accounts in accordance with ihe Financial Reporting Standard applicable in the UK, and Republic of Ireland {FRS 102)]. I hav¢ no concern$ and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached, L¢¢ Gardner FCA Victoria House 26 Queen Victori& House Reading Berkshire RGI ITG liate.. 25109125 Page 6
Promise Inclusion Limited Statement of Financial Activities for the Year Ended 31 December 2024 (Ineluding Income and Expenditure Account and Statement of Total Re¢ognised Gains and Losses) UDrestricted funds Restrieted funds TotAI 2024 Note Intome and Endowments from: Donalions and1¢8aGi¢s Investment in¢ome Other in¢om¢ 96,933 1,121 1,401 106.082 203,015 1,121 23,354 21,953 Total income 99,455 128.035 227.490 Expenditsre OD: Charitable activilies 109.884 126.314 236.198 Net (¢xp¢nditureyincome Transf¢rs bctw¢¢n funds (10.429) 9.425 1.721 (9,425) (8.708) Net movemcni in fvnds (1,004) (7,704) (8,708) R¢con¢ili*tion of lunds Tolal funds brou8hi forward 41,608 56,722 98,330 Totsl ndS carried forward 40,604 49,018 89,622 Unre$tricled funds Restrieted funds To¢41 2023 Note lThcome And Endowments from: Donations and le8a¢ic5 Investment income (hh¢r income 70,877 2,469 2,894 75,814 146,691 2,469 19.741 16.847 Total income 76,240 92,661 168,901 Exp¢Dditur¢ on: Charitable aciivilies {78.216) {122.325) (200,541) Nei expenditure Transfers between funds (1,976) 11.963 (29.664) 11.963 (31,640) Net movement in funds (13,939) (17,701) (31,640) Retonciliation of funds Total funds brought forward Total funds carried forward 55,547 74,423 129.970 41,608 56.722 98,330 All of the charity's Xlivilies derive from Gontinuing opcrulions during the above Iwo period5. The fi)nds breakdown for 2023 is shown in note I l. The notes on pages 9 10 15 forni an integral part of these financial 5talemenls. Page 7
Promise Inelusion LAmiled (Registration number: 06407883) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed Assets Tangible assets 1.734 1.707 Currenl gssets Debtors Cash at bank and in hand 38,117 32,932 103,969 136,901 119,566 Crediton: Amoun¢s f*lliffi8 du¢ wlthln on• year Net current #ssets 10 31,678 40,278 87,888 96,623 Net issets 89.622 98,330 Funds of ihe charity: Rtstrltted income funds Restricted funds 49.018 56,722 Unrestri¢led Income fund$ Unr¢stri¢t¢d fvnds 40,604 TotAI funds 89,622 98,330 For the financial year ending 31 December 2024 the charity was entitled to cx¢mplion from audit under section 477 of the Companies Act 2006 relatin8 10 small companies. Dire¢iors' resp)nsibililies', Thc mcmber5 have not rcquircd ihe charity 10 obtain an audit of ils Accounts for the yw in question in accordance with section 476. and The dir¢¢iors acknowledge their responsibiliiie$ for complying with the requirements of the Aet with respect to a¢¢ounting records the preparation of accounls. Th¢5e financial statements have been prepared in accordanee with the special provisions welatin8 10 ¢ompani¢s subject lo the small companies regime within Pari 15 of the Companies Aet 2006. The financial st8lements on pages 7 10 15 were approved by the trustees, and auihorised for iysue on 2,S1.Q9J2,S....... and signed ort their behalf by.. . J.py.niÉGro.¢n1S.¢p. IS ?Q2&.15..'48..21 GMT+ll J K Green Trusl¢e The notes on pages 9 to 15 fomi an irtiegral part of these financial stalcmenis. Page 8
Promise Inclusion Limited Notes to the Financial Statements for the Year Ended 31 December 2024 Charity seatus The ¢harity is limited by guarantee, incorporalcd in England & Wales, and consequently docs not have sha capital. Each of Ihe Irustees is li4bl¢ to ¢ontribute an amount not exceeding £1 lowards th¢ &4s¢t$ of the charity in Ihc cvcnt of liquidalion. The addre5$ of ils r¢gistered office is.. Wal¢rford House Erftsladt Court Dcnmark Street Wokingham Berkshire RG40 2YF 2 Accounting poli¢ie$ Summary of Significant accounting polieies And key Accounting estimates The principal accouniin8 policies applied in the preparation of these fin¢la1 statements arc set out b¢low. These policies have been consislenily applied io 811 the ycars presented, unless otherwise slated. St*ttment of complianee The finanti81 stsiemenis have been prepared in accordance with Aceounting and Reporting by Charities.. Statement of Recommended Praciicc (applicable lo chariiic5 prepgrin8 their accounts in Accordance with ihe Financial Reporting stdard applicable in ihc UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SOIiP (FRS 102)), the FinAncial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) and the Compani¢s Acl 2006. Basis of prepArAtlon Promisc Inclusion Limiied meets Ihe definition of a public benefit entity under FRS 102, Assets and liabilities iniliBlly rccognised hi hisiorical ¢ost or transaction value unlesg oiherwise sl&led in Ihe rclevant ac¢ounlin8 poli¢y noies. Going ¢oncern The trustees consider that there are no material uncertainties about Ihe charity's ability to ¢oniinue as a going concem nor any significant areas of uncertainty that affect ihe ¢aTrying value of assels h¢ld by the charity. Ineome and endowments All income is recognised once the charity has entitlement io lh¢ in¢om¢, il is probable that the income will bc r¢c¢ived and the amount of the income re¢eivable ¢an be measured lIablY. Donailons andlegacles Donations are r¢cognised when ih¢ ¢harity has been notified in writing of both the amount and settlement dale. In the event IhAI a don&tion is subject to conditions that require a level of perforn)ance by the charity before the harity is entitled to the funds. the income is deferred and not recognised uniil either those conditions are fijlly met, or the fulfilment of those conditions 1$ wholly within the cortlrol of the charity and it is probable that these nditions will be fulfilled in the r¢porting period. Page 9
Promise InclusioD Limited Notes to the Financial Statements for the Year Ended 31 December 2024 Grants reeesvuble Grants are recognised when the charity has an entitlement to the fimds and any conditions linked to the grants have been met. Where perfonnance conditions are attached to th¢ grant and are yet to be md, the income is recognised as a liability and included on the balance sheet as d¢f¢rr¢d income to be rele&8ed. DeJerred income Deferred income repr¢s¢nls amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when.. The donor specifies that the Brant or donfilion mu51 only be used in fulure a¢counlin8 p¢riods' or The donor has imposed conditions which rnusi be met before the ¢harity has un¢onditional enlitlemenl. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that ¢xp¢nditurc. il is probable settlement is required and the amount can bc measured reliably. All costs are allocated lo the appli¢abl¢ expenditure heading Ihal ag8regate similar costs to Ihal cal¢gory. Where costs Gannol be dir¢¢ily altributed to particular headings they have been allocaled on a basis con5iStenl with the use of resources, with central staff costs allocated on Ihe basis of tim¢ spent, and depreciation charges allocated on the portion of the asset's use. her support ¢05ts ar¢ allocated based on the spread of stsff costs. Charllable aetivlil¢s Charitsble expendiiure comprises thos¢ cost5 incurred by the charity in the delivery of its a¢iiiiilie$ Jnd servi¢es for its beneficiarie$. It includes both costs thal can bc allocated direcily 10 such aelivilies and those Costs of an indirect nature necessary lo support them. Support fojts Support costs include central funcliony and have been all¢xated to a¢tivity ¢osl ¢ai¢gorie8 on a basis consistent wilh the use of resources, for example, 4110¢41ing property ¢osts by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Goytrnance costs These include the costs attributable io the charity's compliance with constitutional and stslulory requ1Ments, including audit, strategic management and trustees meetings and reimbursed eXnseS. Ta%Ation The charity 1$ considered to pass the tesis set out in Paragraph I Schedule 6 of the Financ¢ Act 2010 and therefore it meets the detinition of a charitable company for UK corporation lax purpose5, A¢cordingly the charity is Potentially exempt from iall0 in respect of income or capital gains r¢Geiv¢d within ¢4tegories ¢OV¢Ted by Chapter 3 Parl I l of the Corporalion Tax Acl 2010 or Se¢iion 256 of the Taxation of Char8¢abl¢ Gains Act 1992, to the extent ihal such income or gains are applied exclusively to chariiable purposes. Depretition amortisa¢ion D¢pr¢ciation is provided on tangible fixed assets so as to write off the cos1 or valuation, less any estimated residual value, over Ih¢ir ¢xp¢cted useful economic life as follows: Office equipm¢nt - Stfdight line over 3 to 5 years Page 10
Promise Inclusion Limited Notes to the Financial Statements for the Year Ended 31 December 2024 Trade debtors Trade debtors are amounts due from cwiomers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaciion price. They are subsequently measured al amortised cost using the effective interest method, less provision for impairnient. A provision for the impairni¢nt of Irade debtors is established when there is objective evidence that Ihe chlty will not be able io coll¢ct all amounts du¢ according to Ihe originai terms of the rec¢ivable$. Cash and tash ¢quiv•lents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lemi highly liquid investrnenls that 8re readily convertible to a known amount of cash and are subjecl to an insignificani risk of chang¢ in value. Trade eredilori Trade cr¢dilors are obligation5 lo pay for goods or service5 that have been a¢quired in the ordinary course of bu5ine$$ from 5uppli¢rs. A¢Gounls payabl¢ ar¢ classified as currenl liabilities if the charity does not have an Unnditional righi. at th¢ ¢nd of the reporting period, lo defeT s¢ttl¢menl of the creditor for al least twelve months after ih¢ reporting dale. If ihere is an unconditional right lo defer s¢ttlcmcnl for ai least twelve months after the reporting daic, they are presenled as non-currenl liabilities. Trade cr¢ditor8 are recognised inilifllly at the trSaction price and subsequently measurtd 01 amortised ¢osi usin8 the effeciive inter¢si method. Fund structure Unresiricled income funds Are general fvnds that are available for use ai the irusiees discretion in funherance of the objectives of the charity. DesignAled funds Are unrestricted funds Set &8ide for specific purposes Ai ihe discretion of the trustees. R¢slri¢led income funds are Ih05e donaled for use in a p?rticul8T area or for 5p¢cifir purposes, the use of whi¢h is restricied lo that area or purpose. Page 11
Promise Inclusion Limited Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from donations and lega¢ies Unrestricted funds General Reslri¢¢ed funds TotAI 2024 Total 2023 Donations and l¢gacies' Donations Grants, including capitsl grts. Grants Subscriptions 46,136 9,121 55,257 7,404 46,330 4,467 95.369 1,592 141,699 6.059 133,445 5.842 96,933 106,082 203,015 146.691 The charity benefits greatly from the involvement and enthu$iasii¢ supp)rt of ils many volunteers, details of which are given irt our annual report. In ac¢ordance with FRS 102 and the Charities SORP (FRS 102), Ihe economic conlribuiion of general volunteers 1$ not recognised in the accounts. Granis re1ved, included in the above, ar¢ a5 follows,, 2024 2023 Wokingham Borough Council - Unresiricled Lloyds Bank Foundation - Unrestricted National Lottery Funding - Unrestricted Wokingham United Charities - Unrcslricted Wokingham Borough - Restricted.. Carer Support & Guidance Wokin8ham Borou8h Council - Restricted: Family Liaison & Carers Naiional Lottery Funding - R¢$tri¢ted.. Family Liaison Berkshire Communiiy Fund - Restricted.. Children BBC Children In Need . Restricted.. Childr¢n Shanly Foundation - Restricted.. Children National Grid - Restricted.. Adults 37,485 33,385 25,000 8,844 5.000 22,689 26,793 30,945 28,567 35,108 4,999 9,996 2,250 3,333 750 141,699 133,445 Page 12
Promise Inclusfion Limited Notes to the Financial Statements for the Year Ended 31 December 2024 4 Tru$tes remunerolign and expenses During the yw the ¢harity made lh¢ following transa¢tion$ with trusiecs.. SJHall £408 (2023: £Nil) of exp¢nses were reimbursed lo S J Hall during the year. The trustee expenses reimbursed noted above were in respect of travcl Costs. No Irustecs. nor any persons wnnected with them, have Irceived any remuneration from the charity during the yew. No Irustee$ have re¢eived any other benefits from Ihc charity during the year. 5 Staff ¢05ts The monthly average number of person$ (in¢luding senior management I leadership team) employed by the charity durin8 the y¢8r expressed 85 full time equivalents w85 as follow5.. 2024 2023 Charitable activities 23 23 No employee received emoluments of more than £60,000 during th¢ year. 6 Tx#tion The charity is a re8isiered charity and is therefore exempt from I8(10n. 7 Tanilblt fix*d Asxetj Furnliure equipment Total Cosl Ai l January 2024 9.785 9,785 Ai 31 Deccmb¢r 2024 9.785 9,785 Depreci4li(tyn Ai l January 2024 8,051 At 31 December 2024 8.051 8,051 Net book valu¢ Ai 31 December 2024 .734 ,734 At 31 December 2023 1,734 1,734 Page 13
Promise Inclusion Limited Notes to the Financlal Statements for the Year Ended 31 December 2024 8 Debtors 2024 2023 Trade debtors Prepayments Oth¢T debtors 649 37.146 322 26.953 5.973 38,117 32,932 9 C$h and ¢•sh equivftlents 2024 2023 Cash on hand C&8h ai bat 347 81,102 406 103.563 81,449 103,969 10 Creditors: #mounts fAlllng due within one year 2024 2023 Trade credilors Othcr laxation and social security Other ci'editors Accruals Delerred income 2,245 2,707 395 4,573 21,758 31,678 751 2.010 2,649 4.859 30.009 40,278 I l Funds B•lanee al BalAnte at l January 2024 31 In¢ominE resour¢es Resources expended Deeembtr Transferg 2024 Unrestri¢t¢d funds General 30,687 99.455 (109,884) 20,346 40.604 Designatcd Tot1 unrestricted funds 10,921 10.921 41,608 56,722 99,455 (109,884) 9.425 40,604 R¢$tri¢ted funds 128,035 126,314 9,425 49.018 Total fund$ 98,330 227.490 236,198 89.622 Page 14
Promise Incluslon Limited Notes to the Financial Statements for the Year Ended 31 December 2024 BAlanee at Ji Dtttmbtr 2023 B8lan¢e il l J4nuary 2023 Incoming r¢$our¢es Resources expended Tr#n5f¢rs Unrestricted funds General 29,463 76.240 (78.216) 3,200 30,687 Designated 26.084 15.163 10,921 Total unrestritttd funds 55.547 76,240 (78,216) (11.963) 11,963 41.608 Restric¢ed funds 122,325 56.722 Tot#1 funds 129,970 168,901 200,541 98,330 12 A Tr41y$l$ of n¢t $$tls between (undj To¢AI funds at 31 December 2024 R¢strl¢ted fundg Current assets Cury¢nt liabilities 69,894 20,392 69,894 20,392 Total net assets 49.502 49,502 Unre51ricted fund$ Designated Tot1 funds at 31 De¢ember 2023 Restricted funds Tangible fixed a5seig Curreni 8sseis Current liabililics 1.707 136.901 10,921 81,504 Total net assets 10,921 56,722 98,330 13 R¢lNt¢d pwrty ¢ronJActioni The son of a fomier Tru51ee, Tracy Bradlaw. rcrKivcd £487 during the year for services r¢ndercd (2023.. £1.266). Page 15
Promise Inelusion Limited Detailed Statement of Financial Activities for the Year Ended 31 December 2024 2024 Unrestricted fund5 General Restricted funds TotRI 2023 Total Donnlions and legaeies Appeals and donations Appeals and donations Subscriptions Sponsorship Grants receivable Grants receivable 9,121 9,121 46,136 4,467 1.592 95,369 46,330 4,197 3.207 4,285 1,557 70,060 63.385 46.136 4,467 1,592 95,369 96,933 106,082 203.015 146691 2024 Unreslri¢ted funds G¢n¢r#l Total 2023 T•i#l Investnwni Income InreSt on cash deposits 2,469 2,469 2024 Unrestricted rund$ GenerAI R¢Jtrlcttd furtdx Total 2023 Total Oiher Income Aciivity fees Activity fees Other inwme 21.953 21,953 16,847 1.694 1,200 1,401 1,401 ,401 21,953 23,354 19,741 This page does noi form part of the statutory financial statements. Page 16
Promise Inclusion Limited Detailed Statement of Financial Activltles for the Year Ended 31 December 2024 2024 Unrestric¢ed funds Gener41 Restricted (unds Tot¥1 2023 TotAI Charilable aclivities Fundraising costs Fundraising ¢osls Publicity costs Wagcs and salaries Wages and Salaries Staff NIC (Employers) Staff NIC (Employers) Siaff pensions {D¢fined contribution) Staff pensions (Defined ¢ontribuiion) Insurance Repairs and maintenance Repairs and maint¢nomce Depreciation of office equipmenl Staff trainin8 Staff trainin8 Travelling Travclling Rent and rates T¢l¢phon¢ and fax Telephone and fax Compuier software maintenance costs (4.550) (4,550) (984) (253) (105,526) (72,720) (182) (5,834) (2,941) (3,634) (4.923) (1,746) (2,989) (768) (440) (I 10) (1,976) (292) (7,949) (2,392) (377) (984) (324) (253) {105,526) (103.358) (48.648) (1.900) (1,268) (1.855) (3,572) (4.593) (477) (3.634) (342) (1,543) (286) (5.062) 1,063 (7,626) (2,289) (658) (72.720) (182) {5.834) (2,941) 13,634) {4,923) (1.746) (2.989) (768) (440) (110) (1,976) (292) (7.949) (2.392) (377) (579) (579) Priniing, postsg¢ and $taiionery Prinling, p)stage and stationery Trade subscriptions Trade Subscriptions Sundry expcnse$ Sundry expenses Cost of trustee me¢lings Cost of trusiee meeiin8S Consultancy fees Legal and professional fees Legal and professional fees Bank charges Computer software and maintenanc¢ costs (2) (1.657) (2.843) (2,843) (168) (559) {731) {181) (4,946) (81) (463) {168) (559) (731) (34) (66) {5,613) {353) (181) (4,946) (81) (463) {192) (2.576) (61) (2,101) (64) (2,101) (64) 801 106.988) (126,314 233.302 197,727 This page does not forni part of the slatulory financial $lalements. Page 17
Promise Inelusion Limited Detalled Statement of Financial Activities for the Year Ended 31 December 2024 2024 Unrestri¢t funds Gener1 Tot1 2023 Total Govepndnce costs Independent examiner fees 2,896 2,896 2,896 2.896 2,814 This page does not forni part of the statOry financial statements. Page 18