Registered number.. 6388343
Charity number: 1122801
THE MATTHEW PROJECT
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THE MATTHEW PROJECT
(A company limited by guarantee>
CONTENTS
Page
Reference and admlnlstratlve detslls of the company, Its Trustees and advlsers
Trustges, report
Independent audltors. report on the financlal statemenls
Statement of financial actlvitles
2-14
15-18
19
Balance sheet
20
Statement of cash flows
21
Notes to the flnanclal slatements
22-41

THE MATTHEW PROJECT
(A company Ilmited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Trustees
Stephen Lock, Vice Chair (resigned 20 November 2023)
Neil Lawrence. Treasurer
Elizabeth Wiggins, Chair
Gregory Gibson (resigned 18 November 2024>
Margaret Wade (resigned 18 November 2024)
Alison Lamont
Keith James (resigned 18 November 2024)
Robin Graham Hepbum
Richard Cadman
Elizabeth Cahir
Richard Gilbert
Aravind Satheesh (appointed 15 July 20241
lan Fifield (appointed 18 November 2024>
Company registered
number
6388343
Charlty regl$ter•d
number
1122801
Reglstèred offl¢e
70-80 Oak Street
Norwich
Norfolk
NR3 3AQ
Company secretary
Rachel Chapman
Chlef executlve officer Rachel Chapman
Independont audltors
Larking Gowen LLP
Charlered Accountants
1 st Floor, Prospect House
Rouen Road
Norwich
NR1 1RE
Bankers
Lloyds Bank PIC
Norwich
NR2 1LZ
Sollcltors
Birketts LLP
Kingfisher House
Gilders Way
Nowch
NR3 1UB
Page 1

THE MATTHEW PROJECT
(A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the audited financial statements of the company for the
1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a
directors. report under company law. The Trustees confirm that the Annual report and financial statements of
the charitable company Comply with the current statutory requirements, the requirements of the charitable
company's governing document and the provisions of the Statement of Recommended practi￿ ISORP)
applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland {FRS102) {effectlV8 1 January 2019>.
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 (Slrategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectlves and actlvltl•s
. Purposes and alms
For 39 years, the Matthew Project has been empowering young people and adults to overcome drugs, alcohol.
and mental health issues so they can live their lives more fully.
We support young people and adults tho..
have problems wilh drugs or alcohol
are al risk of exploitation in County lines aclivily
suffer from anxiety, depression and self-esteem issues
face barriers to education, employment and training
We also have specialist seNices'.
run by veterans for velerans affected by drug and alcohol issues and living with PTSD
for family members isolated and impacted by others. drug and alcohol issues
The Charity's objects (the "Objects") are:
For the benefit of young people and adults in the East of England and elSe￿ere by-
a> advancing education and
b> providing counselling, advice. information. support Services and other assislance for those in need with the
aim of improving their physical. emotional, mental and spiritual well-being.
In setting objectives and planning for activities, the Trustees have given due consideration lo general guidance
published by the Charity Commission relatlng to public benefit, including the guidance 'Public benefit: running a
charity (PB2)'.
Achievements and performance
a. Main achievements of the company
During these 12 months we have supported over 1.700 people through our varied programmes and Se￿iCeS,
working across Norfolk and beyond wth peoplo who are struggling with drugs, alcohol and mental health issues.
Our dedicated and experienced teams of caring professionals see the person not Ihe problem. They offer hop8
and a space in which to be listened to. We tailor our support rather than expecting everyone to fit into a
standard model. We work one-to-one with individuals as well as in groups, face -to- fa￿ and 'virtually' to help
young people and adults to understand their behaviours and motivations- make choices Ihal are righl for them,
and to develop skills and interests.
Page 2

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
TRUSTEES, REPORT {CONTINUED>
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance (contlnued)
In this way we work to prevent or reduce subslance misuse, build confidence and self-esteem, and help people
to reintegrate into everyday life, including, in many cases, supporting them wth education and into
employment. By doing this benefit vulnerable communities through improved physical and mental health.
better relationships with others, and overall better quality of life. along wilh access to more opportunities.
Our achievements over the past year have also helped us in working towards our long-term goals, which
include-
Being a trusted provider of substance misuse services across Norfolk and beyond and providing excellent
care and service for our beneficiaries.
Widening our sources of funding to sustain and continue to develop our charilable services.
Continuing to support and develop our team with training and volunteer development opportunities,
because the Matthew Project is a great place to work.
Supporting those with whom traditional services fail to engage.
Specific highlights over the year Snclude..
Followng the retender of the Children and Young People's Drug and Alcohol Service and Children and
Young People's Affected Others Service. we submitted a bid for this work for the next four years starting
April 2024. We were delighted to win this contract to work with Norfolk County Council Public Health.
The ending of Building Better Opportunities funding for On Track in March 2023 reduced considerably the
work we could do wth young people who are not in education, employment or training. However, we have
maintained a smaller service and begun to expand On Track support for young people across Norfolk,
We have developed our work in Wayland, Bure and Norwich prisons.
The board was strengthened by the appointment of Richard Gilbert as deputy chair of trustees.
After a period as Interim CEO, the Board appointed Rachel Chapman as permanent CEO with effect from 1
April 2023.
We were awarded the Safe and Secure Flourish award in Ihe inaugural Norfolk County Council FLOURISH
awards ceremony recognising the value of our work to children and young people.
We were shortlisted for the 'Behind the Scenes, award by ERSA {Employment Related Services
Association).
We hav8 explored social enterprise opportunities lo diversify our income. This has been enabled by
securing seed funding. With the help and support of excellent local chefs, we have developed 'DINE'
events, to bring potential supporters into our Oak Street Hub rented out rooms and delivered Iraining in
Subslance misuse.
Page 3

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and perfomlance (continued)
Some of our key outcomes over the year include the followng..
On Track worked wlfh 92
young ppoplo lind dolivered
1740
67%
people supported
by TMP over the
pasc 12 months
347
of chlldren
affected by ,
parental
substance,
mlsu5e.
have
developed
better
coplng,
strategles
brlef Interventlon5 to
familles
70
Ouiside the Wire are supportlng an
average of 70 members each month.
75%
5.009
ofyoun8 rriein
reported
Irnprovement In
SUb￿nCe rnlSts*ln8
Meals
served In
Ihe cenlre
165
300
members
accessed
drop Ins/
additional
activlties
adults
affected by
substance
misuses/
involved in
offending
assisted by
Project
Adder
192
105
work5bops
tackllng substance
mlsu5e and PTSD
dellvered In last
12 èhonth5
Veterans & their
families given 1-
2-1 and group
support
73%
69%
3677
ol young
members dealing
witl)
substance misuse
reported
Improved
wellbeing
l young peoi)li) liavLi mnved Into
ed(Ichtioii, eiTlI)loyiiieflf. Ifiiiiiiny, i)r
voliiiii eorlng 5inre Jijly 2024
sessloft..
ttendan.ces In
the centre ovRr
10
OTW support groups
run by staff and
volunteers
.•.•
Page 4

THE MATTHEW PROJECT
(A company limited by guaranteel
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Achlevemenls and performance {contlnued}
b. Future developments
We have secured funding to open our Next Steps Centre on Saturdays and Sundays in the next financial
year. This will provide support for adults in recovery 7 days a week. It will also enable people with weekday
work and caring responsibilities to gain support, as well as the many people for whom weekends are
particularly difficult time.
We will be expanding our offer to young people who are not in education. employment and training.
We will further implement our participation strategy developing the link be￿een the people we work with
and decision-making at all levels across the organisalion.
We will continue to develop social enterprise by creating a range of "Sober evenings" offering nights out
wilhoul alcohol.
Over the year we have developed our strategy. Getting Input from managers we have identified the key
goals are to..
Focus our servic8s on Substance Misuse and Mental wellbeing
Diversify our sources of income
Build synergy across client groups and seNices
SMART objectives for the year ahead have been set as we work towards these goals.
c. Our servlces
The Matthew Project provides a range of services for adults and young people across the East of England.
These include:
Youn
eo
e's servlces
Unlty
Unity provides support for children and young people across Norfolk. Funded by Norfolk County Council's
Public Health department, the service supports under19s experiencing Substan￿ misuse issues, as well as
those affected by somebody else's substance misuse such as a parent, a guardian, or anolher close family
member {affected others).
During this year we secured a four-year contract with Norfolk County Council Public Health lo continue the
delivery of Children and Young People's Drug and Alcohol Service and Children and Young People's Affected
Others Service. It has the potential of a further four years extension thereafter. The new contract starts in April
2024.
Over the past 12 months, Unity has supported a total of 440 young people across Norfolk. This includes.. 208
affected others; and 232 substance misuse clients..
Young people we have worked with have seen numerous improvements..
Improved wellbeing - 73 /0 of substance misuse clients and 720/0 of affected others
Improved Gonfidence.. 560/0 of substance misuse clients and 560/0 of affected others
Engaged in education - 58.10 of substance misuse clients and 590/0 of affected others
Better able to cope - 670/0 of affected others
Improvemenl in substance misuse = 75 % of substance misuse clients
Family relationships - 520/0 of substance misuse clients and 61 % of affected others
Page 5

THE MATTHEW PROJECT
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance (contlnued)
On Track
The On Track Team primarily works with 13-24-yearaolds who are furthest from the labour mark8t and who are,
or at risk of being not in education, employment or training. We work wilh them to help them overcome th8ir
barriers lo progression. For those that are eligible, we provide one-towone sessions andlor positive activities.
Over the past year the On Track team provided support through a number of projects.
Norwich Coaching Support, funded by Anguish's Education Foundation, helps 16-24-year-olds tackle
range of barriers including emolional health and wellbeing needs thich prevent them from engaging in
education, employment, or training.
Stepping Out. funded by Norfolk County Council, supports 1>18-year-olds tho are not in employment,
education or training {NEET} to better understand and improve the management of their mental health, so
reducing the need for referral for sp8cialist support, and to enable th8m lo reengage with education and
explore their options.
Hangout, funded by Ormiston Families and partnered with NSFT, is a Norfolk-based project for young
people aged belween 15-19 years old. It delivers positive activities to support those currently on a mental
health waiting list.. This service involves working with young people and their parents by supplying
information and guidance around mental health and providing positive activities.
Safe SPACE, funded by Norfolk Community Foundation is a two-year project, supporting young people
aged 13-18 ￿0 are NEET to access regular positive activities and community engagement. The projecl
aims to raise young people's motivation and support them by buildin9 resilience and hope for the future.
Engagement, Careers and Transitions Coaching, funded through Right to Succeed by National Lottery is
located in central Great Yarmouth and started in January 2023.we offer individual coaching, group work
and activities for year 10 students at risk of nol being in education, employmenl or training offering
engagement, careers and transition support. These young people have told us they benefit from speaking
to a trusted advisor who is not part of the education system and makes them feel heard.
Adult servl¢es
The Next Step5 rècovery hub
Next Steps, based in central Norwich, is Norfolk's flrst ever community recovery hub. The hub provldes a safe
space for those in recovery from addiction to learn new ski115, build new friendships, and maintain their
recovery. The centre also provides additional support for affected others, veterans, and young people.
The core of Next Steps is the Recovery Support Programme (RSP), a programme of therapeulic and skills
support based at the hub. Following participation in the RSP, people can access work ready training and get
support into paid work or volunteering. Drop-in activities are offered to enable those we work with to further
their development of recovery capital and conlinued connection with a recovery community.
Over the past year, Next steps has supported 234 adults in recovery through a range of therapeutic and skills-
based programmes. Of these, 69 individuals have progressed through the structured RSP, with the remainder
accessing drop-ins and additional activities, including volunteering. This amounted to 3,677 attendances at
sessions in Ihe Centre.
Building community is a significant part of our support offering and for this. our cafo area is a particularly useful
resource. In the last year. we have served 2,409 lunches and 2,600 breakfasts. 19 graduates of the RSP have
gone onto to volunteer in the centre over the 12 months, gaining maturity in their recovery and benefiting newer
members.
Page 6

THE MATTHEW PROJECT
(A company limited by guaranteel
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance (continued)
In addition, we have also supported 300 adults affected by substance misuse, who have become involved in
offending, as part of the Project Adder programme delivered in partnership with Norfolk Constabulary.
Outslde the Wire IOTW)
Since its launch in 2013, OTW has been supporting veterans, current serving personnel, and close family
members in the East of England. This includes Norfolk, Suffolk, Essex, and Cambridgeshire. OTW is run by
armed forces veterans, helping to create more effective, tailored support for those affected by druglalcohol
misuse. The Se￿iCe has been primarily funded by the Royal British Legion with three yearly grants. The most
recent of which was due to end in October 2024. Unfortunately, RBL are not able to support OTW and we have
taken the difficult decision to reduce the size of the service as of 1st November 2024. We will retain 3
members of staff to deliver this service instead of the current 8. In this way we are confident that we will be
able lo continue to support veterans in Norfolk and Suffolk in the long term.
OTW takes a holistic approach, involving additional issues including homelessness, financial problems.
employment. court appearances, and family relationships. OTW is made up of a team of seven staff, including
outreach onetoone practitioners, an affected others practitioner. group practitioners, and a prisons practitioner.
Over the past year, Outside the Wire has provided onetoone and group support lo 192 people. This includes:
145 veterans in the community provided wth specialist onetoone outreach support
28 family members provided with specialist onetoone support and activities
21 veterans in custody supported with advice and guidance in prison forums
In addition, we also ran groups across the region, totalling 10 support groups run by staff and volunteers and
supporting an average of 70 group members,
An additional focus of Outside the Wire is to raise awareness of the issues faced by veterans, as well as
tackling stigma around PTSD and substance misuse within the armed forces. To do this, staff have delivered
presentations and training lo an estimated 330 veterans and professionals over the course of the year.
d. Volunteers
We have 44 volunteers, 37 of whom help to deliver groups and activities in Next Steps, Ihis can be help
running the allotment, delivering art or pottery sessions, or helping with reception. Five volunteers help run our
veterans, groups and two help with fundraising and social media.
We have also offered successful student placements that benefit our clients, the organisation as well as the
studenvtrainee. Placements range from long-term social worker placements where the students can develop a
client base to 1-day shadowing arrangements. We hosted a social work student, medical students, a trainee
nurse, and an occupational therapist.
We recruit volunteers via word of mouth, Voluntary Norfolk, previous beneficiaries. colleges, and universities.
Page 7

THE MATTHEW PROJECT
(A company limlted by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achlevements and performance Icontlnued)
e. Envlronmental impact
We take a range of measures to ensure that our environmental impact is kepl to a minimum.
Next Steps.. the Norwchbased hub has been designed to reduce environmentsl impact. For example,:
Repurposing an old industrial building {including reusing many of the original fixtures).
Using OSB cladding from sustainable for8Sts', and
Using LED lighting throughout Next Steps.
Encouraging ecofriendly practices among staff and volunteers.. a focus on recycling,. growing vegetables at
our allotment,. clothes collections,. and materials reused for arts and crafts.
Offices.. reducing energy consumption by controlling temperature and promoting swtching off devicesllights
when not in use., having a recycling plan in place. using environmentally friendly stationary products and
printing.
Travel.. we support a cycle-to-work scheme., a carsharing initiative. a blended model of online and
facetoface support to reduce mileage clustering outreach work to see more people more efficiently.
f. Equallty, dlvorslty and Incluslon
Individuals with different cultures, perspectives and experienc8s are at the heart of the way the Matthew Projecl
works. We wanl to recruil, develop and relain the most talented people. As an organisation we recognise that
being a diverse and inclusive employer helps us fulfil our responsibility to make a difference for our clients.
We recognise the importance of lived-experience of our staff and volunteers and have creat8d paid internships
that provide opportunities for those wllh lived-experience to enter our workforce In a supported way. We are
very pleased that it has provided opportunities for individuals who we have supported as cllents, to become
volunteers and then paid members of staff.
We seek to develop a vK)rk environment where we treat all employees as individuals, fairly and in a consistent
way. We work within the spirit and the practice of the Equality Act 2010 by promoting a culture of respect and
dignity and actlV8ly challenging discrimination. We will remove unnecessary barriers for our 8mployees'
seeking opportunities through Iraining and development, promotion and career planning.
We will continue to support our leaders, managers and employees to d8monstrate the principles of diversity
and inclusion in their everyday activities, roles and functions through training and awareness-raising activities.
Flnanclal revlew
a. Flnanclal review
Income for the year was £2,001,332 (2023 - £2,631,311) and of this £1.804,477 (2023- £2,456,370) came from
grants and contract income.
Resources expended for the year amounted to £2,188.876 (2023 - £2.498,575).
The work of the Charity consists mainly of providing advice and support, and this is reflected in staff costs
which form approximately 740/0 of total gross expenditure.
Net movement in funds for the year was a defi¢il of £187,544 (2023- surplus of £132,736>.
Page 8

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
b. Reserves pollcy
Note 16 shows the movement in all the charity's funds in the year. An explanation of the nalure and purpose of
restricted funds is also given.
Restricted Funds
The balance of funds at 1 April 2023 was £1,444,796. Incoming resources for the year totalled £1,774,962
(2023 £2,430,616). Resources expended tolalled £1,926,949 {2023 £2.319,192). The balance was
£1,301,199 on restricted funds al 31 March 2024.
Further detail on individual restricled funds can be found in note 16 of the financial statements.
Unr88trlcted Funds
The opening balance on the general fund al the beginning of the year was £609,516. Incoming reSoUr￿S
totalled £226,370 {2023 £200,695) and resources expended totalled £261,927 (2023 £179,383) giving
deficit of £35,557 {2023 - surplus of £21,312) for the year. The balance was £565,569 al 31 March 2024.
The Trustees review th8 r8S8rv8s policy on an ongoing basis at bi-monthly finance committee meetings. In
delermining the level of unrestricted reserves required, the Truslees have taken into account..
Working capital requiremenls.. as payments under several major contracts are now made in arrears there is
a need to maintain sufficient working capilal to finance the on4Joing expenditure and also build up working
capital in anticipation of winning additional major contracts.
Expenditure which might arise if a major contract is lost.. this would mainly relate to the levels of central
overheads that could be recovered (with the potential requirement lo reorganise parts of The Matthew
Project) and the costs of vacating premises that would no longer be required.
Expenditure required to continue to support a service where the funding has reduced and further funding is
being soughl.
Investment in consuttancy lo support bids for new services.
Investment in buildings and IT.
Investment in professional development.
An allowance for exceptional maintenance costs of buildings and equipment.
Other potential risks as identified in the Risk Register.
The need for a contingency to ￿Ver unforeseen events.
The target for unrestricled reserves is £538,100 and this compares with Un￿strICted funds at 31 March 2024
which amounted to £565,569. Excluding £7,325 of fixed assets within unrestricted funds, reserves therefore
amounted to £558,244. The Truslees are satisfied that the Charily will have adequate funds available to fulfil its
obligations for the year ended 31 March 2024.
C. Materlal Investments policy
The Trustees have considered the most appropriate policy for investing funds. They have concluded that
holding monies in bank treasury deposit and COIF deposit accounts meets the fequirements to generate
income whilst minimising risk and maintaining liquidity.
d. Fundraising
Under Section 13 of the Charities {Protection and Social investment) Acl 2016, charities that are subject to
audit must make specific statements in their annual reports that provide information about their fundraising
Page 9

THE MATTHEW PROJECT
{A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
standards. Accordingly, the Trustees make the following statements in compliance with the requirements of the
Act:
All fundraising activities have been undertaken by the employees of the Charity or by supporters tho have
chosen The Matthew Project as their nominated charity for fundraising purposes. The Charity has not used
a professional fundraiser or commercial participator during the year ended 31 March 2024.
The Charity is not currently a member of the Fundraising Standards Board. However, the Charity complies
with the Code of Fundraising Practice.
In the past year there have been no instances where the Charity has failed to comply with the requirements
and a complaint made.
The Charity continually reviews and monitors activities involving fundraising carried out by intemal staff.
There have been no complaints received by the Charity or any person acting on ils behalf about activities
by the Charity or by a person on behalf of the Charity for the purpose of fundraising.
The Charity has protected vulnerable people and other members of the public from behaviour constiluting..
a) Unreasonable intrusion on a person's privacy
b) Unreasonably persistent approaches for the purpose of soliciting or othernise procuring money or
other property on behalf of the Charity, or
c) Placing undue pressure on a person to give money or other property, in the course of, or in connection
with, such activities by avoiding the use of any fundraising practices that may be considered to give
effect to such behaviours.
The Charity actively promotes and markets its fundraising events and activities., however, il is entirely
voluntary matter for individuals, groups or business8S to decide whether they wsh to participate in events or
make donations.
. Golng concern
After making appropriate enquiries, the Trustees have a reasonable expectation Ihat the company has
adequate resources lo continue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concern basis in preparing the financial statements. Further details regarding the
adoption of the going concern basis can be found in the accounting policies,
Structure, govèrnance and management
a. Constltutlon
The charity was incorporated as a company limited by guarantee on 2 October 2007, and on 1 April 2008 took
over the assets, liabilities, and undertakings of The Matthew Project lan unincorporated charity established by a
trust deed dated 9March 1982).
The charity s Trustees, who are members of the board of directors, are detailed on page 3,
b. Methods of appolntment or election of Trustees
Trustees are elected al the annual general meeting for a term of three years. They are recruited based on skills.
experience, and background to contribute lo the effective govemance of the charily. Trustees are recruited
through a variety of means including advertising through websites, responding lo interest, and approaching
relevant professional and voluntary organisations.
Each Trustee receives an information pack, a role description, and a thorough induction package which
involves meeting the Chair of Trustees, the CEO, and members of slaff and observing the work of the charity.
Page 10

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (conllnued)
Trustees are also then enrolled on two online safeguarding courses, one for children and one for vulnerable
adults. Truslees attend regular training and update sessions concerning governance facilitated by local
providers. The Matthew Project is grateful to the Trustees for their hard work and commitment.
In the past year Trustees have taken responsibility for specific governance areas based on their particular skills
and expertise. including..
Ethos
Performance
Compliance and legal
Volunteers
Safeguarding
Training
ICT
Action continues to be taken to recruit Trustees with specialist knowledge and 6xperience of substance misuse
and social work,. and governance of charitable organisations. The Trustees have also taken aclion lo raise their
profile and understanding of the work of the Matthew Project by attending a range of events and visiting teams
in their various workplaces.
c. Governance and management
The Trustees are responsible for the overall governance of the charity and its strategic direction and
development wilh the Chief Executive Officer and the senior management team. Aspects of this, including the
day-to-day management and development of Ihe charity, are delegated to the CEO and the management team.
Trustees have areas of responsibility and a working group melhod has been adopted to address key tasks and
areas of work. which also involves relevanl staff members. Regular reports are produced for the Trustees every
o months.
Over the past year, the Board has met bi-monthly. At each meeting the Board considers the finances of the
Charity and receives a report from the Chief Executive Officer. The Board also operates three sub-commitlees:
the Finance Committee, the Development Committee, and Operational Governance Group. Each of these are
attended by at least two Trustees, as well as relevant staff members.
We are undertaking a review of trustee roles and procedures to ensure more effective governance and in doing
so are taking into account the recommendation5 of the governanc8 code.
d. Pay policy for senlor staff
The remuneration for senlor staff is determined by the Board of Twstees. Remuneration is subject to periodic
market reviews and independent evidence and advice is obtained to inform the decision-making process,
before any changes are made. Any proposed changes will be recommended to the Board of Trustees for
consideration and approval.
In addition, the remuneration for senior staff will be subject lo annual review as part of the organisation's
evaluation of pay inflation and consequential recommendations to the Board of Truslees to make a pay award.
if any.
The Trustees received no r8muneration for their time during the year.
Page11

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
TRUSTEES, REPORT {CONTINUED}
FOR THE YEAR ENDED 31 MARCH 2024
Structurei governance and management (contlnued)
e. Rlsk assessment
The Trustees have, during the year, continued to review the major risks to which the charity is exposed and to
establish systems to mitigate Ihose risks identified not alfeady covered by the charity's existing systems and
risk management strategies and controls. This is designed to minimise any polenlial impact to the Charity and
its beneficiaries, should these risks malerialise. All potential new seryices are assessed Ihrough a risk
management process. This includes a periodical review of the risk register and organisational governance. The
Trustees have identified two main risks to the charity:
Reduction in funding from public sector. trusts and foundations. In response the charity has..
diversified its income through the development of earned and donated Income streams.
A programme of continued engagement with relevant public s8Ctor funding bodies, trusts and foundations
to keep abreast of upcoming changes and developments,
annual review of our reserves figure to ensure we have sufficient financlal headroom to adapt to changes in
the underlying polilical l economic situation,
Staffing risks Including risk of staff stress, absence, retention and difflcultles recrultlng due to increasing
complexity and volalilily of clients, exacerbated by contextual pressures such as the cost-of-living crisis. In
response the charity has..
provided staff wth effective managerial supervision and ensures that managers, expectations are
reasonable
provided slaff with access to a range of employee assistance services.
f. Publlc benefit
Under the Charities Acl, the Trustees are required to report on the extent to which The Matthew Project has
provided public benefit during the year. The Charity Commission guidance recommends that this should be
reported by means of.. a review of significant activities.. details of aims and objectives.. stralegies adopted and
activities undertaken to achieve aims and objectives., and achievements by reference to aims and objectives.
We report on the above four areas in detail in the sections headed 'our aims and objectives, and 'achievements
and perfonnance,. The Trustees consider that the operations of The Matthew Project during the year were in
accordance with general charitable principles and the charitable purposes set out in the Memorandum and
Articles of Association and were wholly for the benefit of the public.
g. Trustees, imdemnities
The charity has purchased professional indemnity insurance on behalf of the Trustees.
Page 12

THE MATTHEW PROJECT
(A company Ilmited by guarantee)
TRUSTEES, REPORT (CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees. responslbllltles
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for
preparing the Trustees, report and Ihe financial statements in accordance with applicable law and United
Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view
of the stale of affairs of the company and of its incoming resources and application of resources, including its
income and expenditure, for that Period. In preparing these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102):
make iudgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards IFRS 102) have been followed, subject to any
material departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless il is inappropriale to presume that the
company will continue in business.
The Trustees are responsible for keeping adequate accounting records Ihal are sufficient to show and explain
the company's transactions and disclose with reasonable accuracy at any time the financial position of the
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for Ihe
prevention and detection of f raud and other irregularities.
Dlsclosure of Informallon to audltor•
Each of the persons who are Trustees at the time when this Trustees, report is approved has confirmed that:
so far as that Trustee is aware, there is no relevant audit infomiation of which the charity's auditors ar8
unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order lo be aware of
any relevant audit informalion and to establish that the charity's auditors ar8 awa￿ of that information.
Page 13

THE MATTHEW PROJECT
IA company limited by guarantee>
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Dlsclosure of Informatlon to audltors (contlnued)
Audltors
The auditors, Larking Gowen LLP, have indicated their wllingness lo continue in office. The designated
Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the member
of the board of Trustees and signed on their behalf by..
Nell Lawrence
{Truslee}
Date:
Page 14

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MATTHEW PROJECT
Opinion
We have audited the financial statements of The Matthew Project (the 'charitable company'} for the year ended
31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash
flows and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparalion is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
ir)coming resources and application of resources, including ils income and expenditure for the year then
ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requlrements of the Companies Act 2006.
Basis for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing {UK) {ISAs (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditors, responsibililies
for the audit of the financial statemenls section of our report. We are independent of the charitable company in
accordance wtlh the ethical requiremenls that are relevant to our audit of the financial statements in the United
Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with Ihese requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Con¢lu$lon$ relating to golng concorn
In auditing the financial statements, we have concluded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the vnrk we have performed, we have not identified any material uncertainties relating to events or
conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are
aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees wilh respect to going concern are described in the
relevant sections of this report.
Page 15

THE MATTHEW PROJECT
(A company Ilmlted by guarantee
INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)
Other information
The other information comprises the information included in the Annual report other than the financial
statements and our Auditors, report thereon. The Trustees are responsible for the other infomialion contained
within the Annual report. Our opinion on the financial statements does not cover the Other information and.
except to the extent otherwise explicitly stated in our report, we do not express any fom of assurance
Conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained in the
course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsislencies
or apparent material misstatements, we are required to determine whether Ihis gives rise to a material
misstatement in the financial slalements themselves. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, w8 are required lo report that fact.
We have nothing to report in this regard.
Oplnlon on other matters prescrlbod by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, report for the financial year for thich the financial statements are
prepared is consistent with Ihe financial statements.
the Trustees, report has been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charitable company and Its environment obtaSned in the
course of the audit, WR have not identified material misstatements in the Trustees, report.
We have nothing to report in respect of the followng matters in relation to which Companies Act 2006 requires
us to report lo you if, in our opinion..
adequate accounting ￿COrdS have not been kept, or returns adequate for our audit have not been
received from branches not visited by us. or
the financial stalements are not in agr&em8nl with the accounting records and returns; or
certain disclosures of Trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the Truslees were not entitled to prepare the financial statements in accordance wth the small
companies regime and lake advantage of the small companies. exemptions in preparing the Trustees,
report and from Ihe requirement to prepare a Strategic report.
Page 16

THE MATTHEW PROJECT
(A company Ilmlted by guarant•e)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)
Respons5bilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees {who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the
going Concern basis of accounting unless the Trustees eilher intend to liquidate the charitable company or to
cease operations, or have no realistic alternative but to do so.
Audltors. responslbllltles for the audit of the flnanclal statements
Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free
from material misslatemenl, whether due to fraud or error, and to issue an Auditors, report thal includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance wilh ISAS (UK) will always delecl a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could ￿aSOnablY be
expected to influence the economic decisions of users taken on th8 basis of these financial statements.
Irregularities, including fraud, are instanGes of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, oullined above, to detect material misstatements in respect of
irregularities. including fraud. The extent to which our procedures are capable of delecting irr8gularilies,
including fraud is detailed below:
Due to the field In whlch the Charity operates, we identified the following areas as those most likely to have a
material impacl on the financial statement.. health and safety,. employment laws; GDPR, safeguarding, serious
incident reporting and compliance with the UK Companies Act.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance with laws and regulations, was as follows..
Enquiries with management about any known or suspected instances of non-compliance with laws and
regulations, accidents in the workplace and fraud;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance
with applicable laws and regulations.,
Challenging assumptions and judgments made by management in their significant accounting estimates.,
and
Auditing the risk of managemenl override of controls, including through testing journal entries and other
adjustments for appropriateness.
A further description of our responsibilities for the audit of the financial stalements is located on the Financial
Reporting Council's website at.. www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, report.
Page 17

THE MATTHEW PROJECT
(A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance wth Chapter 3 of
Part 16 of the Companies Act 2006. Our audil work has been undertaken so that we might state to the
charilable company's members those matters we are required lo state lo Ihem in an Auditors, report and for no
other purpose. To the fullest exlent permitted by law. we do not accept or assum8 responsibility lo anyone other
than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions
we have formed.
Glles Kerkham FCA (Senlor statutory audltor)
for and on behalf of
Larklng Gowen LLP
Chartered Accountants
Stalutory Auditors
1 st Floor, Prospect House
Rouen Road
NoNich
NR1 1RE
Date..
Page 18

THE MATTHEW PROJECT
(A company Ilmited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
ReslrScted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
82,015
63,039
74,051
7,265
28,019
1,741,438
5,505
110,034
1,804,477
79,556
7,265
98, 151
2,456. 370
74, 633
2, 157
Total Income
226,370
1,774,962
2,001,332
2,631,311
ExpendStura on:
Raising funds
Charitable activities
16,645
244,981
1,106
1,926,144
17,751
2,171,125
23,155
2,475,420
Total expendlture
261,626
1,927,250
2,188,876
2, 498, 575
Net (expendlturo)Ilncome
Transf8rs between funds
(35,256)
{8.390)
(152,2881
8,390
(187,544)
132, 736
17
Nel movement In funds
{43,6461
1143,898)
{187,544
132, 736
Reconclllation of funds:
Total funds brought forward
Net movement in funds
609,516
(43,646)
1.444,796
(143,898}
2,054,312
(187,544)
1,921,576
132, 736
Totsl funds carried forward
565,870
1,300,898
1,866,768
2,054,312
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 22 to 41 form part of Ihese financial statements.
Page 19

THE MATTHEW PROJECT
(A company limlted by guarantee
REGISTERED NUMBER: 6388343
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Flxed assets
Tangible assets
Inveslmenls
13
14
892,513
923, 965
892,514
923, 966
Current ass•ts
Debtors
Cash at bank and in hand
15
92,448
1.178,285
140, 171
1. 362, 704
1,270,733
1,502.875
Creditors: amounts falling due within one
year
16
(296,479)
(372,529)
Net current assets
974,254
1. 130,346
Total not assots
1,866,768
2,054,312
Charity funds
Restricted funds
Unrestricted funds
17
17
1.300,898
565,870
7,444,796
609,516
Total funds
1,866,768
2,054,312
The Trustees ackn0￿&dge their responsibilities for complying wth the requirements of the Act with respect to
accounting r8cords and pr8paration of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements
e approved and authorised for issue by the Trustees and signed on their behalf by..
Neil Lawrence
{Trustee)
Date..
The notes on pages 22 to 41 form part of these financial statements.
Page 20

THE MATTHEW PROJECT
(A company Ilmlted by guaranteel
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Cash flows from oporatlng activities
Net cash generated in operating activities
(191,684)
89,061
Cash flows from Invesllng actlvlties
Interest received
7.265
2, 157
Nel cash provided by investlng actlvltles
7,265
2,157
Change In cash and cash equlval•nts In the year
Cash and cash equivalents at the b8ginning of the year
1184,419)
1,362,704
91,218
1,271,486
Cash and cash equlval•nts at the end of the year
1,178,285
1.362, 704
The notes on pages 22 to 41 form parl of these financial statements
Page 21

THE MATTHEW PROJECT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General Information
The Matthew Project is a company, limited by guarantee and has no share capital, incorporated in
England and Wales, registration number 6388343. The registered office is 70-80 Oak Street, Norwich,
Norfolk. NR3 3AQ.
Ac¢ountlng pollcles
2.1 Basls of preparatlon of flnanclal statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities
preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK
and Republic of Ireland (FRS 102> (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK arKI Republic of Ireland (FRS 102) and the Companies Act 2006.
The Matthew Project meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless othernvise stated in the
relevant accounting policy.
2.2 Golng concern
In approving these accounts, the Trustees have assessed whether the us8 of going concern is
appropriate and whether there are any material uncertainlies related to events or conditions that
may cast significant doubt on the ability of The Matthew Project to continue as a going concern. The
Trustees make this assessment in respect of a period of one year from the date of the approval of
the financial stalements.
The Trustees have reviewed the level of liquid assets and funds and the expecled income and
expenditure for 12 months from authorising these financial statements. Taking particularly into
consideration the level of unrestricte(J reserves and projected cashflows the Trustees conclude that
the charily wlll meel its liabilities as they fall due for the period of assessment. For this reason, Ihe
Trustees conslder the charity to be financially well positioned and that the financial statements
should continue to be prepared on a going concern basis,
2.3 Legal status of the Charity
The Charity is a company by limited guarantee and has no share capital. In the event of the Charity
being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.
Page 22

THE MATTHEW PROJECT
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.4 Income
Income is recognised when the charity has entitlement to the funds, any performance conditions
attached to the itemls) of income have been met, il is probable that the income will be received and
the amount can be measured reliably. Where income has related expenditure (as with fundraising or
contract income), the income and related expenditure are reported gross in the Statement of
Financial Activities,
Donations, grants and gifts are recognised when receivable. In the event that a donation is subject
to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred
and not recognised until it is probable that those conditions will be fulfilled in the reporting period.
Income from Gift Aid and tax reclaims is recognised for any donations with relevant Gift Aid
certificates recognised in income for the year. Any amounts of Gift Aid not received by the year end
are accounted for in income and accrued income in debtors.
Legacies ar8 included in the Statement of Flnancial Aclivitles when the charity becomes aware of its
entitlement to gift, receipl is probable and the amount can be reliably quantified.
Income from govemment grants, whether 'capital' grants or 'revenue' grants, are recognis6d when
the Charity has entitlement to the funds, any performance conditions attached to the grants have
been met, it is probable that the income will be received and the amout can be measured reliably
and is not deferred.
Income received in advance for a future fundraising event or for a grant received relating to the
following year are deferred until the criteria for income recognition has been met.
Interest on d8POSIt funds held Is included when receivable and the amounl can be measured reliably
by the Charity which is normally upon notification of the interest paid or payable by the bank.
Sponsorship from events, fundraising and events registration fee are recognised in income when the
event takes place. Trading income is recognised on point of sale for bolh donated and purchased
goods.
2.5 Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. All expendilure is accounted
for on an accruals basis under the following headings:
Cost of raising funds comprises fundraising costs incurred in seeking donations, grants and
legacies. Fundraising costs do not include the costs of disseminating information of support of the
charitble activities.
Support costs comprise those costs which are incurred directly in support of expenditure on the
objects transferred to the new provider.
Support costs are allocated on the basis of the full time equivalent of staff to the resource.
Expenditure on raising funds includes all expenditure incurred by Ihe company to raise funds for its
charitable purposes and includes Gosts of all fundraising activities events and non-charitable trading.
Page 23

THE MATTHEW PROJECT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.5 Expenditure and irrecoverable VAT (contlnued)
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
company's objectives, as well as any associated support costs.
All expendlture is inclusive of irrecoverable VAT.
2.6 Taxation
The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets Ihe definition of a charitable company for UK corporation tax purposes.
Accordingly, the company is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Seclion
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied excluslvely to charltable purposes.
2.7 Tanglblo flxod assets and depreclatlon
All purchased fixed assets are initially recorded at cost. Assets donated for use by the Charity are
recognised as income when receivable and capitalised al their open market value.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their r8sidual value
over their estimated useful lives,
Depreciation is provided on the foll0v￿n9 bases-
Leasehold improvements
Caravans
Molor vehicles
Equipment If ixed)
Furniture and equipment
(movable)
Computer equipment
over period of lease
25Q/o RB
over period of lease
250/0
33°/. SL
2.8 Investments
Investments In subsidiaries are valued at cost less provision for impairment.
2.9 Debtors
Trade and other deblors are recognised at Ihe settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discount5 due. Accrued income and
tsx recoverable is included at the best estimale of the amounts receivable at the balance sheet
date.
2.10 Cash at bank and In hand
Cash al bank and in hand includes cash and short-term highly liquid investmenls wth a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Page 24

THE MATTHEW PROJECT
(A company limlted by guarantee>
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.11 Llabllltles and provlslons
Liabilities are recognised when there is an obligation at th& Balance sheet dale as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the
amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it wll pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation,
Wh8re the effect of the time value of money is material. the provision is based on the present value
of those amounts, discounted at Ihe pre-tax discount rate that reflects Ihe risks specific to the
liability. The unwinding of the discount is recognised in the Statement of financial activities as a
finance cost.
2.12 Flnanclal Instruments
The company only has financial assets anrj financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recogni5ed at transaction value and
subsequently measured al their settlemenl value wilh the exception of bank loans which are
subsequently measured at amortised cost using the effective interest method.
2.13 Operating leases
Rentals paid under operating leases are charged to the Statement of financial activities on a
straight-line basis over the lease term.
Benefits received and receivable as an incentive to slgn an operating lease are recognised on a
straight-line basis over the lease lerm, unless another systemaliG basis is representative of the time
paltern of the lessee's benefit from the use of the leased asset.
2.14 Penslons
Contributions to the charitys defined contribution pension scheme and to the Norfolk Pension
Scheme are charged to the profit and loss account in the year in which they become payable.
2.15 Fund accountlng
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Restricled funds are funds which are to be used in accordance wth specific restrictions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 25

THE MATTHEW PROJECT
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Critical accounting estimates and areas of judgment
No judgements (apart from those involving estimates) have been made in the process of applying the
above policies.
The key assumption conceming the future and key sources of estimation uncertainty at the key reporting
date that has significant risk of causin9 a material adjustment to the carrying amounts of the assets and
liabiliti8S Within th8 next financial year is..
The estirnalion of the useful economic life of the fixed ass8ts.
Income from donatlons and legacles
Unrestricted Restrlcted
funds
funds
2024
2024
Total
funds
2024
Donations
82,015
28.019
110,034
Unrestricted
funds
2023
Restricted
funds
2023
Tot81
funds
2023
Donations
Legacies
85,562
15
12.574
98, 136
15
85,577
12,574
98,157
Income from charltable actlvltles
Unrestrlcted Restrlcted
funds
funds
2024
2024
Total
funds
2024
Young Persons
Adult Services
Community Justice
965,668
775,770
965,668
775,910
62,899
140
62.899
63,039
1.741,438
1,804,477
Page 26

THE MATTHEW PROJECT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Incomo from charitable activltles (continued)
Unr8StriGted
funds
2023
Restricted
funds
2023
Total
funds
2023
Young Persons
Adult Services
Community Justice
1.576,770
836, 031
1,576, 770
836.031
43, 569
43,569
43,569
2,412,801
2,456,370
Income from other tradlng actlvltles
Income from non charltable tradlng actlvltles
Unrestrlcted Restricted
funds
funds
2024
2024
Total
funds
2024
Fundraising events
Other trading activities
36,478
37,573
36,478
43,078
5,505
74,051
5,505
79,556
Unrestricted
funds
2023
Restricted
funds
2023
Tot81
funds
2023
Fundraising events
Other trading activities
46,610
22, 782
46,610
28,023
5,241
69,392
5,241
74, 633
Page 27

THE MATTHEW PROJECT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment Income
Unrestrlcted
funds
2024
Total
funds
2024
Bank interest
7,265
7,265
UnTrstricted
funds
2023
Total
funds
2023
Bank interest
2, 757
2, 157
Expendlture on ralslng funds
Costs of ralslng voluntary Incomo
Unrestrl¢led Re$tri¢ted
funds
funds
2024
2024
Total
funds
2024
Young Persons
Adult Services
70
1,036
70
7,800
9,881
6,764
9,881
Support Costs
16,645
1,106
17,751
Page 28

THE MATTHEW PROJECT
(A Company Ilmlted by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expendlture on ralslng funds (conllnuedl
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Young Persons
Adult Services
Support Costs
100
1,434
100
2,913
20, 142
1,479
20, 142
21,621
1,534
23, 155
Analysls of expendlture by actlvltles
Actlvltles
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Young Persons
Adult Services
912.032
818,304
198,654
242,135
1,110,686
1,060,439
1,730,336
440,789
2.171,125
Activitl8S
undertaken
directly
2023
Support
Gosts
2023
Total
funds
2023
Young Persons
Adult SeNices
1,458,461
679,216
153,215
184,528
1,611,676
863, 744
2, 137,677
337, 743
2,475,420
Page 29

THE MATTHEW PROJECT
(A company Ilmlted by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expendlture by actlvltles {¢ontinuod)
Analysis of direct costs
Young
Persons
2024
Adult
Servlces
2024
Total
funds
2024
Stsff and volunteer costs
Service costs
Premises and office running costs
Depreciation including loss on disposal
838,254
13,474
57,448
2,856
686,130
25,767
78,687
27,720
1.524,384
39,241
136,135
30,576
912,032
818,304
1,730,336
Young
Persons
2023
Adult
Services
2023
Total
funds
2023
Staff and volunteer costs
Service costs
Premises and office running costs
Depreciation including loss on disposal
1, 105, 746
223, 738
108, 004
21,573
546,997
38,590
60,286
33,343
1, 652, 743
261, 728
168,290
54,916
1,458,461
679,216
2, 137,677
Page 30

THE MATTHEW PROJECT
(A company Ilmitèd by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysls of expendlture by activities {contlnued)
Analysis of support costs
Young
Persons
2024
Adult
Services
2024
Total
funds
2024
Salaries
Staff costs
Volunteer costs
Training
Staff travel
Vehicle costs
Premises costs
Office running costs
Telephone
IT
Finance and legal costs
Audit, consultancy and professional fees
Deprecialion
128,132
16,435
266
547
239
97
10.374
17.741
2.722
7.715
354
13,638
394
156,605
20,087
325
284,737
36,522
591
547
532
216
23,053
39,425
6,049
17,145
788
30,308
876
293
119
12,679
21,684
3,327
9,430
434
16,670
482
198,654
242,135
440,789
Page 31

THE MATTHEW PROJECT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysls of oxpenditure by activities (continued)
Analysis of support Costs (continued)
Young
Persons
2023
Adult
Services
2023
Total
funds
2023
Salaries
Staff cosls
Volunteer costs
Training
Staff travel
Vehicle costs
Service costs
Premises costs
Offlce running costs
Telephone
IT
Finance and legal costs
Audil, consultancy and professional fe88
Depreciation
107,636
5,512
204
2,019
651
456
26
7,805
10.215
2.711
6.716
60
8,417
793
131,367
6, 727
248
239, 003
12,239
452
2,019
1.446
1,017
57
17,331
22,681
6,020
14,912
133
18,677
1, 762
795
555
31
9,526
12,466
3,309
8, 196
73
10,266
969
153,215
184, 528
337, 743
Costs are allocated on the basis of the full time equivalent (FTE) of staff allocated to the resource.
10. Audltors. remuneration
2024
2023
Fees payable to the company's auditor for the audit of the company's
annual accounts
10,650
10,010
Page 32

THE MATTHEW PROJECT
IA company Ilmited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Staff costs
2024
2023
Wages and salaries
Social security costs
Pension costs
1,422,518
121,037
82,364
1,438, 659
127, 128
79, 065
1,625,919
1, 644, 852
During the year redundancy payments of £4,536 (2023.. £2,570> were paid. These are recognised on the
basis set out In accounting policy 2.5.
The average number of persons employed by the company during th8 year was as follows.,
2024
No.
2023
No.
Average monthly head count
61
63
No employee received remuneration amounting to more than £60,000 in either year.
The charity considers that the key management personnel comprise the trustees and senior
management team. The total employee benefits of key management personnel of the charity were
£308,539 <2023: £335,756).
12. Trustees. remunerallon and expenses
During the year. no Trustees received any remuneration or other benefits (2023 - £NIL).
During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL).
Page 33

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Tanglble fixed assets
Long-lerm
leasehold
property
Motor
Fixtures Computer
vehicles and flttings equipment Caravans
Total
Cost or valuatlon
At 1 April 2023
958,038
47,905
33,499
152,415
41,638 1,233,495
At 31 March 2024
958,038
47,905
33,499
152,415
41,638 1,233,495
Depreclatlon
At 1 April 2023
Charge for the year
61,292
15,612
38,381
2,381
28,307
4,980
142,908
7,730
38,642
749
309,530
31,452
At 31 March 2024
76,904
40,762
33,287
150,638
39,391
340,982
Net book value
At 31 March 2024
881,134
7,143
212
1,777
2.247
892,513
At 31 March 2023
896, 746
9,524
5, 192
9,507
2, 996
923, 965
14. Flxed asset Investmonts
Investmonts
in
subsidiary
companies
Cost or valuatlon
At 1 April 2023
At 31 March 2024
See note 26 for further details.
Page 34

THE MATTHEW PROJECT
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15.
Debtors
2024
2023
Due wlthln one year
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable
78,715
123
10,532
3,078
67,614
13,373
56,008
3,176
92,448
140, 171
16. Credltors: Amounts falllng due wllhln ono year
2024
2023
Trade creditors
Amounts Owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income
40,762
9, 995
35,732
750
219,234
39,898
750
321,885
296,479
372, 529
Deferred income comprises contract income received in advance for contracts to be performed in future
accounting periods.
2024
2023
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods
310,513
317,958
204,584
310,513
(310,513) (317,958)
204.584
310,513
Page 35

THE MATTHEW PROJECT
(A company Ilmlted by guaranteg
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds
Statement of funds - current year
Balance at
31 March
2024
Balance at 1
Aprll 2023
Transfers
Inlout
Income Expendlture
Unrestrlcted funds
General Fund
609,516
226,370
(261,626)
(8,390)
565,870
Rostflcted funds
On Track
Unity
Outside the Wire
Next Steps
Nexl Steps Recovery Hub
Early Intervenlions
Voicebox and vehicles
Other
35,435
811,364
258,514
435,859
(43,825)
(897,227)
(329,874)
(434,063)
(15,612)
1148,702)
1744
(57,203)
8,390
92,915
189,286
197,472
896,746
S1,977
10,287
6,113
7,052
117,926
199,268
881,134
32,263
9,543
53,712
132,779
(3,791)
101,011
3,791
1,444,796
1,774,962 (1,927,250)
8,390
1,300,898
Total of funds
2,054,312
2,001,332 {2,188,876)
1,866,768
Page 36

THE MATTHEW PROJECT
IA company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (contlnued)
General Fund:
The general reserve represents funds of the charity which are provided on an unrestricted basis. It
includes, donations, fund raising and surpluses and deficits arising from projects funded from various
external sources.
Restrlcted Fund:
1) The Unity project is funded by the Norfolk Counly Council Public Health and identifies and works with
vulnerable young people affected by substance misuse.
21 Outside Ihe Wire provid8s advice and support to members and ex-mernbers of the Armed Forces
and their families. il is currently funded by the Royal British Legion, the Armed Forces Covenant Fund,
and the NHS through the Norfolk and Suffolk Foundation Trust.
3) Next Steps is a centre for people in recovery from substance misuse. The centre programmes also
include being part of the Project Adder initiative and the extension in recovery services lo Kings Lynn
and Great Yannouth through Universal Fundlng. It has developed with funding from charitable trusts
and Norfolk County Council Public Health,
4) Next Steps Recovey Hub represents funds received to purchase and develop the Recovery Hub
Centre on Oak Street Nopwich. The funds carried fo￿ardS will cover future years depreciation on the
building.
5) The Early Intervenlion project aims to support children and young people wth mental well-being
issues.
6) One volcebox caravan land towing vehicle) has been used In work to educate and support young
people throughout Norfolk. The balances on the funds will cover future depreciation of these assets,
which were originally purchased using restricted funds.
Fund transfers
During the year the charity made the follow7ng funds transfers..
1) A transfer from Early Interventions to Other Restricted funds of £3,791. This represents a surplus on
a completed projecl which the original funder has agreed can be used on other services.
21 A transfer of £8,390 from general funds to restricted funds to cover a deficit on a completed project.
Page 37

THE MATTHEW PROJECT
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (contlnued)
Statement of funds - prlor year
B818nce at
31 March
2023
Balance at
1 April 2022
Transfers
in/out
Income Expenditure
Unrestrlcted funds
General Fund
599,367
200,695
(179,383)
(11, 163)
609,516
Re$tri¢tod funds
On Track
Unlty
Outside the Wire
Next Steps
Next Steps Recovery Hub
Early Interventions
Voicebox and vehicles
Other
16,089
48, 665
174. 125
85, 166
972,353
28, 506
11,286
46,019
619,404
841,475
308, 638
437,267
(668, 262)
(797, 225)
(293,477)
(324, 957)
(15,607)
(176,520)
(999)
(42, 145)
32, 769
92,915
189, 286
197,472
896, 746
51,977
10,287
6,713
(4)
203, 696
(3, 705)
20, 136
(17,897)
1,322, 209
2,430,616 (2,319, 192)
11.163
1,444, 796
Total of funds
1.927,576
2.631,311
(2,498,575)
2,054,312
18. Analys1$ of not assets between fund8
Analysls of net assets between funds - current period
Unrestricted Restricted
funds
funds
2024
2024
Tolal
funds
2024
Tangible fixed assels
Fixed asset investments
Current assets
Creditors due within one year
7,325
885,188
892,513
628,107
{69,563)
642,626
1,270,733
{226,916} (296,479)
Total
565,870
1,300,898
1,866,768
Page 38

THE MATTHEW PROJECT
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Analysis of net as$els belw8en funds (continued)
Analysls of net assets between funds - prlor perlod
Unreslricted
funds
2023
Reslricted
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
15.477
908,488
923.965
966, 567
(372, 529)
536, 308
1,502,875
(372, 529)
Total
609,516
1,444, 796
2,054,312
19. Reconclllatlon of nel movement In funds to net cash flow from operatlng actlvities
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Aclivitiesl
(187,544)
132, 736
Adjustmènts for:
Depreciation charges
Decreasel(increase) in debtors
Decrease in creditors
Interest received
56, 679
(41,820)
(56,377)
(2, 157)
47,625
(76,050)
(7,265)
Net cash provlded byl(used Inl operatlng actlvltles
(223,234}
89,061
20. Analysls of cash and cash equivalents
2024
2023
Cash in hand
1.178,285
1.362. 704
Page 39

THE MATTHEW PROJECT
(A company limlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
21. Analysls of changes In net debt
At 1 April
2023 Cash flows
Al 31 March
2024
Cash at bank and in hand
1.362,704
1184,419) 1,178,285
22. Ponslon commitments
The Charity operates a defined contribulion scheme in respect of certain employees of the Charity.
Conlributions are charged in the accounts as incurred and totalled £82,36412023.' £79,065). There were
outstsnding contributions at the balance sheet date of 31 March 2024 of £8,569 (2023.. £7,894).
23. Operatlng leaso commltments
At 31 March 2024 the company had commitments to make future minimum lease payments under non-
cancellable operating leases as follows..
2024
2023
Not later than 1 year
Later than 1 year and nol later than 5 years
Later than 5 years
6,324
24,576
303,025
6, 712
24, 756
309, 186
333,925
340,654
24. Related party transactlons
The Company has not entered into any related party Iransaction during the year, nor are there any
outstanding balances owng between related parties and the company at 31 March 2024.
25. Corporate status
The company is a registered charily {No. 11228011 incorporated under the Companies Act and limited by
guarantee. In Ihe event of Ihe charitable company being wound up members are required to contribute
an amount not exceeding £1.
Page 40

THE MATTHEW PROJECT
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
26.
Principal subsidiaries
The followng was a subsidiary undertaking of the company..
Name
Company
number
Prlncipal activity
Holding
Matthew Project Enterprises Limiled
10840324
Domiant
10001.
The subsidiary was dormant for the year and its net position at 31 March 2024 was:
Name
Net assets
Matthew Proj8cI Enterprises Limited
Page 41