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← The Matthew Project

2025-03-31-accounts

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 2025

THE MATTHEW PROJECT

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the company, its Trustees and advisers 1
Trustees' report 2 - 16
Independent auditors' report on the financial statements 17 - 20
Statement of financial activities 21
Balance sheet 22
Statement of cash flows 23
Notes to the financial statements 24 - 43

THE MATTHEW PROJECT

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Trustees
Trustees Elizabeth Wiggins, Chair until 16 September 2025 (resigned 16 September 2025)
Neil Lawrence, Treasurer
Richard Cadman
Elizabeth Cahir
Ian Charles Fifield (appointed 18 November 2024)
Richard Gilbert, Chair from 17 September 2025
Robin Graham Hepburn
Alison Jane Lamont
Aravind Satheesh (appointed 15 July 2024)
Gregory Gibson (resigned 18 November 2024)
Margaret Wade (resigned 18 November 2024)
Keith James (resigned 18 November 2024)
Company registered
number
6388343
Charity registered
number
1122801
Registered office
70-80 Oak Street
Norwich
Norfolk
NR3 3AQ
Company secretary
Rachel Chapman
Chief executive officer
Rachel Chapman
Independent auditors
Larking Gowen LLP
Chartered Accountants
1st Floor, Prospect House
Rouen Road
Norwich
NR1 1RE
Bankers
Lloyds Bank Plc
Norwich
NR2 1LZ
Solicitors
Birketts LLP
Kingfisher House
Gilders Way
Norwich
NR3 1UB

Page 1

(A company limited by guarantee)

THE MATTHEW PROJECT

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the company for the 1 April 2024 to 31 March 2025. 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 Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 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 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Purposes and aims

For 40 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 who:

We also have specialist services:

The Charity's objects (the “Objects”) are:

For the benefit of young people and adults in the East of England and elsewhere by:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

a. Main achievements of the company

The Matthew Project was founded in 1984 and over the past year we have had the pleasure of marking our 40th anniversary. Our focus over the year was to highlight the difference that the Matthew Project has made in that time, by sharing stories of our impact. The most powerful stories were told by some of our current members who were brave enough to be part of our living library held in September. Hearing from them about how they had turned their lives around with help from The Matthew Project was both humbling and inspiring. A heartfelt thanks goes out to them for their testimony.

Over the past 12 months, we have supported 1,788 individuals through our diverse range of programmes and

Page 2

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

services. Working across Norfolk and beyond, we have engaged with people facing challenges related to drugs, alcohol, and mental health.

Our dedicated and compassionate team of experienced professionals focus on the individual, not just the problem. They provide a safe, supportive space where people feel heard and valued. We offer personalised support, recognising that one size does not fit all. Whether through one-to-one sessions or group work—delivered both in person and online—we help young people and adults explore their behaviours and motivations, make informed choices, and develop new skills and interests.

Through this approach, we aim to prevent or reduce substance misuse, improve mental health, build confidence and self-esteem, and support individuals to make healthy life choices. This often includes assistance with education and employment. In doing so, we contribute to stronger, healthier communities—improving physical and mental wellbeing, fostering better relationships, and enhancing overall quality of life and access to opportunities.

Our achievements this year have also advanced our long-term goals, which include:

Specific highlights and achievements over the year include:

Page 3

(A company limited by guarantee)

THE MATTHEW PROJECT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

Some of our key outcomes over the year include:

b. Future developments

We have established steady income streams from room hire, catering and DINE events and over the next year we will be exploring how we can develop these further as well as exploring other ways to. diversify our income so that we are less reliant on individual funding bodies or single contracts.

We will be focusing on onward progression of the people that we work with to create more opportunities for work and volunteering.

We will review and update our three-year strategy to be in place for April 2026.

Our aim to further develop the link between the people we work with and decision-making at all levels across the organisation has progressed and we have participation throughout the organisation including representation on our Governance Committee.

Page 4

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

c. Our services

The Matthew Project provides a range of services for adults and young people across the region

Young people’s services Unity YouCan On Track AdultsServices Next Steps – Recovery Hub Next Steps – Criminal Justice Outside the Wire (Veterans)

Unity

Unity provides support for children and young people across Norfolk struggling with drugs and alcohol. It is funded by Norfolk County Council through Public Health. We completed the first year of the new contract with a new delivery model. This focusses on providing specialist provision to those in greatest need and on offering advice and guidance to professionals supporting young people who do not need or perhaps do not want to engage with such intensive support. In this way we are upskilling professionals across the county. Over 2024 – 2025 we worked with 243 young people.

YouCan

YouCan supports young people who are affected by somebody else’s substance misuse such as a parent, a guardian, or another close family member. YouCan also adapted its delivery model and focuses on achieving measurable improvements in resilience and wellbeing for its children and young people. Over the past 12 months, YouCan has supported a total of 232 young people across Norfolk.

On Track

On Track Team is aimed primarily at 13-24 year olds who are furthest from the labour market and who are, or at risk of being not in education, employment or training, to help them overcome their barriers to progression. For those that are eligible, we provide one-to-one sessions and/or positive activities. In total we have worked with 184 young people across the following services:

Feedback from young people tells us that:

Page 5

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

Adult services

Our service provides a safe, inclusive, and empowering environment for individuals affected by substance misuse, supporting them on their journey toward sustained recovery and reintegration into the community.

Next Steps – Recovery Hub

Next Steps, based in central Norwich, is Norfolk’s first ever community recovery hub. The hub provides a safe space for those in recovery from addiction to learn new skills, 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 therapeutic and skills support based at the hub. Following participation in the RSP, people can access a range of sessions. These sessions focus on skill-building, employability, community engagement, and personal development and enable those we work with to further their development of recovery capital and continued connection with a recovery community. We provide work ready training and support people into paid work or volunteering.

Over the past year, Next Steps Centre has supported 311 adults in recovery through a range of therapeutic and skills- based programmes. Of these, 64 individuals have progressed through the structured RSP, with the remainder accessing drop-ins and additional activities, including volunteering. In addition to the RSP we ran 1,560 drop in sessions. Our members reported that:

Building community is a significant part of our support offering and for this, our café area is a particularly useful resource. In the last year, we have served 5,848 meals. 20 graduates of the RSP have gone onto volunteer in the centre over the 12 months, gaining maturity in their recovery and benefiting newer members.

Next Steps – Criminal Justice

With discretionary funding from Norfolk County Council, we have extended our recovery model to support offenders and ex-offenders affected by substance misuse.

Page 6

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

Our work includes intensive one to one work as well as running SMART Recovery Groups. Working both in prison and the community enables individuals to have continuity of care as they transition from prison.

Outside the Wire (OTW)

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 drug/alcohol misuse and/or PTSD.

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 one to one practitioners, an affected others practitioner, group practitioners, and a prisons practitioner.

Owing to financial difficulties during the course of the year we were unable to continue to provide such a comprehensive service and restructured the Outside the Wire Team, Focusing on our core delivery in just Norfolk and Suffolk to veterans only. Despite this reduction in the team, they have provided a high level of support.

Over the past year, Outside the Wire has provided one to one and group support to 192 people. This includes:

In addition, we also ran groups across the region, run by staff and volunteers and supporting an average of 70 group members a month.

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 to an estimated 330 veterans and professionals over the course of the year.

Page 7

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

d. Volunteers

Volunteers are vital to The Matthew Project, contributing around 300 hours monthly. With a staff-to-volunteer ratio of 60:40, TMP relies on volunteers’ diverse skills to deliver essential services. Volunteers extend support beyond formal programmes, offering consistent and relatable help.

In our Young People’s services, we have three main roles for volunteers:

Most of our volunteers work in the Next Steps Centre with adults in recovery. There are several roles they may take including:

TMP’s volunteers are essential, compassionate, and deeply integrated into every programme. Without them we would not be able to offer such an extensive range of services or support so many people.

Page 8

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

e. Environmental impact

We take a range of measures to ensure that our environmental impact is kept to a minimum.

f. Equality, diversity and inclusion

Individuals with different cultures, perspectives and experiences are at the heart of the way the Matthew Project works. We want to recruit, develop and retain 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 created paid trainee positions that provide opportunities for those with 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 clients, to become valued paid members of staff.

We seek to develop a work 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 actively challenging discrimination. We will remove unnecessary barriers for our employees’ seeking opportunities through training and development, promotion and career planning.

We will continue to support our leaders, managers and employees to demonstrate the principles of diversity and inclusion in their everyday activities, roles and functions through training and awareness-raising activities. We have improved accessibility of our Next Steps Centre by replacing the gravel path with hard surface.

We have an EDI group made up of staff of the whole organisation whose role is to advise on the promotion of EDI for staff, volunteers and our client group.

This year we have

Page 9

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

clearer floor plans.

Financial review

a. Financial review

Income for the year was £2,102,869 (2024 - £2,001,332) and of this £1,821,043 (2024 - £1,804,477) came from grants and contract income.

Resources expended for the year amounted to £2,183,619 (2024 - £2,188,876).

The work of the Charity consists mainly of providing advice and support, and this is reflected in staff costs which form approximately 77% of total gross expenditure.

Net movement in funds for the year was a deficit of £80,750 (2024 – deficit of £187,544).

b. Reserves policy

Note 17 shows the movement in all the charity’s funds in the year. An explanation of the nature and purpose of restricted funds is also given.

Restricted Funds

The balance of funds at 1 April 2024 was £1,300,898. Incoming resources for the year totalled £1,910,574 (2024 - £1,774,962). Resources expended totalled £1,938,811 (2024 - £1,926,949). The balance was £1,272,670 on restricted funds at 31 March 2025.

Further detail on individual restricted funds can be found in note 16 of the financial statements.

Unrestricted Funds

The opening balance on the general fund at the beginning of the year was £565,870. Incoming resources totalled £192,295 (2024 - £226,370) and resources expended totalled £244,808 (2024 - £261,927) giving a deficit of £52,513 (2024 – deficit of £35,557) for the year. The balance was £513,348 at 31 March 2025.

The Trustees review the reserves policy on an ongoing basis at bi-monthly finance committee meetings. In determining the level of unrestricted reserves required, the Trustees have taken into account:

Page 10

THE MATTHEW PROJECT

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The target for unrestricted reserves is £469,700 and this compares with unrestricted funds at 31 March 2025 which amounted to £513,348. Excluding £17,712 of fixed assets within unrestricted funds, reserves therefore amounted to £495,636. The Trustees are satisfied that the Charity will have adequate funds available to fulfil its obligations for the year ended 31 March 2025.

c. Material 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 requirements to generate income whilst minimising risk and maintaining liquidity.

d. Fundraising

Under Section 13 of the Charities (Protection and Social investment) Act 2016, charities that are subject to audit must make specific statements in their annual reports that provide information about their fundraising standards. Accordingly, the Trustees make the following statements in compliance with the requirements of the Act:

The Charity actively promotes and markets its fundraising events and activities; however, it is entirely a voluntary matter for individuals, groups or businesses to decide whether they wish to participate in events or make donations.

Page 11

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

e. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to 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, governance and management

a. Constitution

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 (an 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 appointment or election of Trustees

Trustees are elected at the annual general meeting for a term of three years. They are recruited based on skills, experience, and background to contribute to the effective governance of the charity. Trustees are recruited through a variety of means including advertising through websites, responding to 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 staff and observing the work of the charity. Trustees are also then enrolled on two online safeguarding courses, one for children and one for vulnerable adults. Trustees 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:

Action continues to be taken to recruit Trustees with specialist knowledge and experience of substance misuse and social work; and governance of charitable organisations. The Trustees have also taken action to 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.

Page 12

(A company limited by guarantee)

THE MATTHEW PROJECT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

c. Governance and management

The Trustees are responsible for the overall governance of the charity and its strategic direction and development with the Chief Executive Officer and the senior management team. Aspects of this, including the day-to-day management and development of the charity, are delegated to the CEO and the management team. Trustees have areas of responsibility and a working group method has been adopted to address key tasks and areas of work, which also involves relevant staff members. Regular reports are produced for the Trustees every two 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-committees: 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 recommendations of the governance code.

d. Pay policy for senior staff

The remuneration for senior staff is determined by the Board of Trustees. 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 to annual review as part of the organisation's evaluation of pay inflation and consequential recommendations to the Board of Trustees to make a pay award, if any.

The Trustees received no remuneration for their time during the year.

Page 13

(A company limited by guarantee)

THE MATTHEW PROJECT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

e. Risk 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 those risks identified not already covered by the charity’s existing systems and risk management strategies and controls. This is designed to minimise any potential impact to the Charity and its beneficiaries, should these risks materialise. All potential new services are assessed through 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:

Staffing risks including risk of staff stress, absence, retention and difficulties recruiting due to increasing complexity and volatility of clients, exacerbated by contextual pressures such as the cost-of-living crisis. In response the charity has:

f. Public benefit

Under the Charities Act, 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; strategies 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 performance’. 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 14

(A company limited by guarantee)

THE MATTHEW PROJECT

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United 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 state 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:

The Trustees are responsible for keeping adequate accounting records that 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 the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Page 15

THE MATTHEW PROJECT (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors (continued)

Auditors

The auditors, Larking Gowen LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

==> picture [36 x 36] intentionally omitted <==

Neil Lawrence (Trustee) Date: 10/12/2025

Page 16

(A company limited by guarantee)

THE MATTHEW PROJECT

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 2025 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 preparation 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements 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 these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work 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 authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 17

THE MATTHEW PROJECT

(A company limited by guarantee)

INDEPENDENT AUDITORS' 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 information 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 form 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 inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 18

THE MATTHEW PROJECT

(A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MATTHEW PROJECT (CONTINUED)

Responsibilities 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 to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect 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 reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Due to the field in which the Charity operates, we identified the following areas as those most likely to have a material impact 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:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 19

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 with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to 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.

Giles Kerkham FCA (Senior statutory auditor)

for and on behalf of Larking Gowen LLP Chartered Accountants Statutory Auditors 1st Floor, Prospect House Rouen Road Norwich NR1 1RE

Date: 18 December 2025

Page 20

THE MATTHEW PROJECT

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
157,376
2,133
25,107
7,679
192,295
18,669
226,148
244,817
(52,522)
565,870
(52,522)
513,348		 Restricted
funds
2025
£
91,171
1,818,910
493
-
1,910,574
4,250
1,934,552
1,938,802
(28,228)
1,300,898
(28,228)
1,272,670		 Total
funds
2025
£
248,547
1,821,043
25,600
7,679
2,102,869
22,919
2,160,700
2,183,619
(80,750)
1,866,768
(80,750)
1,786,018		 Total
funds
2024
£
153,524
1,804,477
36,066
7,265
2,001,332
17,751
2,171,125
2,188,876
(187,544)
2,054,312
(187,544)
1,866,768

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 24 to 43 form part of these financial statements.

Page 21

THE MATTHEW PROJECT (A company limited by guarantee) REGISTERED NUMBER: 6388343

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 43,438
1,076,881
1,120,319
(217,202)		 2025
£
882,900
1
882,901
903,117
1,786,018
1,272,670
513,348
1,786,018		 92,448
1,178,285
1,270,733
(296,479)		 2024
£
892,513
1
892,514
974,254
1,866,768
1,300,898
565,870
1,866,768

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation 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 were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

Neil Lawrence

(Trustee) Date: 10/12/2025

==> picture [91 x 65] intentionally omitted <==

The notes on pages 24 to 43 form part of these financial statements.

Page 22

(A company limited by guarantee)

THE MATTHEW PROJECT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net cash generated in operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 24 to 43 form part of these financial statements		 2025
£
(109,083)
7,679
7,679
(101,404)
1,178,285
1,076,881		 2024
£
(191,684)
7,265
7,265
(184,419)
1,362,704
1,178,285

Page 23

THE MATTHEW PROJECT (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. 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.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and 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 otherwise stated in the relevant accounting policy.

2.2 Going concern

In approving these accounts, the Trustees have assessed whether the use of going concern is appropriate and whether there are any material uncertainties 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 statements.

The Trustees have reviewed the level of liquid assets and funds and the expected income and expenditure for 12 months from authorising these financial statements. Taking particularly into consideration the level of unrestricted reserves and projected cashflows the Trustees conclude that the charity will meet its liabilities as they fall due for the period of assessment. For this reason, the Trustees consider 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 24

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.4 Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it 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 are included in the Statement of Financial Activities when the charity becomes aware of its entitlement to gift, receipt is probable and the amount can be reliably quantified.

Income from government grants, whether 'capital' grants or 'revenue' grants, are recognised 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 deposit funds held is included when receivable and the amount 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 both 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 expenditure is accounted for on an accruals basis under the following headings:

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Page 25

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.5 Expenditure and irrecoverable VAT (continued)

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 expenditure 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 the 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 Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Tangible fixed assets and depreciation

All purchased fixed assets are initially recorded at cost. Assets donated for use by the charity are recognised as income when receivable and capitalised at their open market value.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following bases:

Leasehold improvements - over period of lease
Caravans - 25% RB
Motor vehicles - 25% RB
Equipment (fixed) - over period of lease
Furniture and equipment - 25%
(movable)
Computer equipment - 33% SL

2.8 Investments

Investments in subsidiaries are valued at cost less provision for impairment.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date.

2.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 26

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Accounting policies (continued)

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date 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 will 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. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.12 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with 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 sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.14 Pensions

Contributions to the charity's 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 accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with 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 27

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Critical accounting estimates and areas of judgment

No significant judgements have been made in the process of applying the above policies.

Critical accounting estimates and assumptions:

The key assumption concerning the future and key sources of estimation uncertainty at the key reporting date that has significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year is:

The estimation of the useful economic life of the fixed assets.

4. Income from donations and legacies

Unrestricted
funds
2025
£
Donations
157,376
Unrestricted
funds
2024
£
Donations
125,442		 Restricted
funds
2025
£
91,171
Restricted
funds
2024
£
28,082		 Total
funds
2025
£
248,547
Total
funds
2024
£
153,524

5. Income from charitable activities

Unrestricted
funds
2025
£
Young Persons
-
Adult Services
2,083
Community Justice
50
2,133		 Restricted
funds
2025
£
1,301,349
517,561
-
1,818,910		 Total
funds
2025
£
1,301,349
519,644
50
1,821,043

Page 28

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Income from charitable activities (continued)

Young Persons
Adult Services
Community Justice		 Unrestricted
funds
2024
£
-
140
62,899
63,039		 Restricted
funds
2024
£
965,668
775,770
-
1,741,438		 Total
funds
2024
£
965,668
775,910
62,899
1,804,477

6. Income from other trading activities

Income from non charitable trading activities

Unrestricted
funds
2025
£
Fundraising events
1,309
Other trading activities
23,798
25,107
Unrestricted
funds
2024
£
Fundraising events
9,290
Other trading activities
21,334
30,624		 Restricted
funds
2025
£
-
493
493
Restricted
funds
2024
£
-
5,442
5,442		 Total
funds
2025
£
1,309
24,291
25,600
Total
funds
2024
£
9,290
26,776
36,066

Page 29

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Investment income

Unrestricted
funds
2025
£
Bank interest
7,679
Unrestricted
funds
2024
£
Bank interest
7,265		 Total
funds
2025
£
7,679
Total
funds
2024
£
7,265

8. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted
funds
2025
£
Young Persons
-
Adult Services
7,491
Support Costs
11,178
18,669		 Restricted
funds
2025
£
533
3,717
-
4,250		 Total
funds
2025
£
533
11,208
11,178
22,919

Page 30

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Expenditure on raising funds (continued)

Young Persons
Adult Services
Support Costs		 Unrestricted
funds
2024
£
-
6,764
9,881
16,645		 Restricted
funds
2024
£
70
1,036
-
1,106		 Total
funds
2024
£
70
7,800
9,881
17,751

9. Analysis of expenditure by activities

Young Persons
Adult Services
Young Persons
Adult Services		 Activities
undertaken
directly
2025
£
1,099,514
655,627
1,755,141
Activities
undertaken
directly
2024
£
912,032
818,304
1,730,336		 Support
costs
2025
£
182,634
222,925
405,559
Support
costs
2024
£
198,654
242,135
440,789		 Total
funds
2025
£
1,282,148
878,552
2,160,700
Total
funds
2024
£
1,110,686
1,060,439
2,171,125

Page 31

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff and volunteer costs
Service costs
Premises and office running costs
Depreciation including loss on disposal
Staff and volunteer costs
Service costs
Premises and office running costs
Depreciation including loss on disposal		 Young
Persons
2025
£
993,930
14,617
88,486
2,481
1,099,514
Young
Persons
2024
£
838,254
13,474
57,448
2,856
912,032		 Adult
Services
2025
£
575,219
11,061
50,388
18,959
655,627
Adult
Services
2024
£
686,130
25,767
78,687
27,720
818,304		 Total
funds
2025
£
1,569,149
25,678
138,874
21,440
1,755,141
Total
funds
2024
£
1,524,384
39,241
136,135
30,576
1,730,336

Page 32

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Salaries
Staff costs
Volunteer costs
Training
Vehicle costs
Premises costs
Office running costs
Telephone
IT
Finance and legal costs
Audit, consultancy and professional fees
Depreciation		 Young
Persons
2025
£
137,834
2,284
24
1,294
51
8,636
9,886
2,555
6,921
208
12,858
83
182,634		 Adult
Services
2025
£
168,464
2,791
29
1,582
61
10,555
11,792
3,123
8,458
254
15,715
101
222,925		 Total
funds
2025
£
306,298
5,075
53
2,876
112
19,191
21,678
5,678
15,379
462
28,573
184
405,559

Page 33

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

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
Depreciation		 Young
Persons
2024
£
128,132
16,435
266
547
239
97
10,374
17,741
2,722
7,715
354
13,638
394
198,654		 Adult
Services
2024
£
156,605
20,087
325
-
293
119
12,679
21,684
3,327
9,430
434
16,670
482
242,135		 Total
funds
2024
£
284,737
36,522
591
547
532
216
23,053
39,425
6,049
17,145
788
30,308
876
440,789

Costs are allocated on the basis of the full time equivalent (FTE) of staff allocated to the resource.

10. Auditors' remuneration

2025 2024
£ £
Fees payable to the company's auditor for the audit of the company's
annual accounts 12,000 10,650

Page 34

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Staff costs

Wages and salaries
Social security costs
Pension costs		 2025
£
1,465,089
124,528
82,568
1,672,185		 2024
£
1,422,518
121,037
82,364
1,625,919

During the year there were redundancy payments (including payments in lieu of notice) of £23,491 (2024: £4,536). These are recognised on the basis set out in accounting policy 2.5.

The average number of persons employed by the company during the year was as follows:

2025 2024
No. No.
Average monthly head count 61 61

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 £291,845 (2024: £308,539).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

Page 35

THE MATTHEW PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Long-term
leasehold
property
£
958,038
12,011
-
970,049
76,904
15,607
-
92,511
877,538
881,134		 Motor
vehicles
£
47,905
-
-
47,905
40,762
1,781
-
42,543
5,362
7,143		 Fixtures
and
fittings
Computer
equipment
£
£
33,499
152,415
-
-
-
-
33,499
152,415
33,287
150,638
212
1,777
-
-
33,499
152,415
-
-
212
1,777		 Caravan
s
£
41,638
-
(41,638)
-
39,391
183
(39,574)
-
-
2,247		 Total
£
1,233,495
12,011
(41,638)
1,203,868
340,982
19,560
(39,574)
320,968
882,900
892,513

14. Fixed asset investments

Cost or valuation
At 1 April 2024
At 31 March 2025
See note 26 for further details.		 Investments
in
subsidiary
companies
£
1
1

Page 36

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable		 2025
£
16,344
64
27,030
-
43,438		 2024
£
78,715
123
10,532
3,078
92,448

16. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
63,338
1
35,670
1,143
117,050
217,202		 2024
£
40,762
1
35,732
750
219,234
296,479

Deferred income comprises contract income received in advance for contracts to be performed in future accounting periods.

Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods		 2025
£
204,584
99,760
(204,584)
99,760		 2024
£
310,513
204,584
(310,513)
204,584

Page 37

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds

Statement of funds - current year

Balance at 1
April 2024
£
Unrestricted funds
General Fund
565,870
Restricted funds
Unity
7,052
Outside the Wire
117,926
Next Steps
199,268
Next Steps Recovery Hub
881,134
Early Interventions
32,263
Voicebox and vehicles
9,543
Other
53,712
1,300,898
Total of funds
1,866,768		 Income
£
Expenditure
£
192,295
(244,817)
979,152
(946,007)
150,050
(238,177)
536,324
(485,667)
-
(15,881)
218,848
(210,406)
-
(9,543)
26,200
(33,121)
1,910,574
(1,938,802)
2,102,869
(2,183,619)		 Transfers
in/out
£
-
-
-
-
-
35,979
-
(35,979)
-
-		 Balance at
31 March
2025
£
513,348
40,197
29,799
249,925
865,253
76,684
-
10,812
1,272,670
1,786,018

Page 38

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

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.

Restricted Fund:

1) The Unity project is funded by the Norfolk County Council Public Health and identifies and works with vulnerable young people affected by substance misuse.

2) Outside the Wire provides advice and support to members and ex-members of the Armed Forces and their families. it 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 to Kings Lynn and Great Yarmouth through Universal Funding. 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 Norwich. The funds carried forwards will cover future years depreciation on the building.

5) The Early Intervention project aims to support children and young people with mental well-being issues.

6) One voicebox caravan (and 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 following funds transfers:

1) A transfer of £35,979 from other restricted funds to Early Interventions. This represents an amalgamation of previously separate funds into a more appropriate classification.

Page 39

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Fund
Restricted funds
On Track
Unity
Outside the Wire
Next Steps
Next Steps Recovery Hub
Early Interventions
Voicebox and vehicles
Other
Total of funds		 Balance at
1 April 2023
£
609,516
-
92,915
189,286
197,472
896,746
51,977
10,287
6,113
1,444,796
2,054,312		 Income
£
226,370
35,435
811,364
258,514
435,859
-
132,779
-
101,011
1,774,962
2,001,332		 Expenditure
£
(261,626)
(43,825)
(897,227)
(329,874)
(434,063)
(15,612)
(148,702)
(744)
(57,203)
(1,927,250)
(2,188,876)		 Transfers
in/out
£
(8,390)
8,390
-
-
-
-
(3,791)
-
3,791
8,390
-		 Balance at
31 March
2024
£
565,870
-
7,052
117,926
199,268
881,134
32,263
9,543
53,712
1,300,898
1,866,768

18. Analysis of net assets between funds Analysis of net assets between funds - current year

Unrestricted
funds
2025
£
Tangible fixed assets
12,615
Fixed asset investments
1
Current assets
491,018
Creditors due within one year
9,714
Total
513,348		 Restricted
funds
2025
£
870,285
-
629,301
(226,916)
1,272,670		 Total
funds
2025
£
882,900
1
1,120,319
(217,202)
1,786,018

Page 40

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year
Unrestricted
funds
2024
Restricted
funds
2024
£
£
Tangible fixed assets
7,325
885,188
Fixed asset investments
1
-
Current assets
628,107
642,626
Creditors due within one year
(69,563)
(226,916)
Total
565,870
1,300,898
19.
Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
Net expenditure for the year (as per Statement of Financial Activities)
(80,750)
Adjustments for:
Depreciation charges
21,624
Decrease in debtors
55,185
Decrease in creditors
(79,277)
Interest received
(7,679)
Net cash used in operating activities
(90,897)
20.
Analysis of cash and cash equivalents
2025
£
Cash in hand
1,076,881		 Total
funds
2024
£
892,513
1
1,270,733
(296,479)
1,866,768
2024
£
(187,544)
31,452
47,723
(76,050)
(7,265)
(191,684)
2024
£
1,178,285

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(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21. Analysis of changes in net debt

At 1 April At 31 March
2024 Cash flows 2025
£ £ £
Cash at bank and in hand 1,178,285 (101,404) 1,076,881

22. Pension commitments

The Charity operates a defined contribution scheme in respect of certain employees of the Charity.

Contributions are charged in the accounts as incurred and totalled £82,568 (2024: £82,364). There were outstanding contributions at the balance sheet date of 31 March 2025 of £9,204 (2024: £8,569).

23. Operating lease commitments

At 31 March 2025 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2025
£
7,192
25,100
296,881
329,173		 2024
£
6,324
24,576
303,025
333,925

24. Related party transactions

The company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the company at 31 March 2025.

25. Corporate status

The company is a registered charity (No. 1122801) incorporated under the Companies Act and limited by guarantee. In the event of the charitable company being wound up members are required to contribute an amount not exceeding £1.

Page 42

(A company limited by guarantee)

THE MATTHEW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

26. Principal subsidiaries

The following was a subsidiary undertaking of the company:

Name Company Principal activity Holding
number
Matthew Project Enterprises Limited 10840324 Dormant 100%
The subsidiary was dormant for the year and its net position at 31 March 2024 was:
Name Net assets
£
Matthew Project Enterprises Limited 1

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