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## **CATCH 22 CHARITY LIMITED Trustees’ Report and Financial Statements** 



**FOR THE YEAR ENDED 31 AUGUST 2025** 



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## **CONTENTS** 

- **P3 -** Introduction from CEO, Naomi Hulston **P4 -** Review of the Year **P18 –** Financial Overview **P23 –** Structure, Governance and Management **P30 –** Auditor’s Report **P34 –** Consolidated Statement of Financial Activities for the year ended 31 August 2025 

- **P35 –** Consolidated Balance Sheet as at 31 August 2025 **P36 –** Charity Balance Sheet as at 31 August 2025 **P37 –** Consolidated Cash Flow Statement for the year ended 31 August 2025 

**P38 –** Notes to the Financial Statements for the year ended 31 August 2025 **P61 –** Catch22 People 

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## **INTRODUCTION** FROM OUR CEO 


I am delighted to introduce this year’s review of our achievements. This review is a testament to the extraordinary progress we have made at Catch22 over the last 12 months. 

It has been a year of resilience and impact; we’ve secured new services, scaled effective programmes, and made meaningful strides in shaping policy to improve outcomes for the people we support. As ever, we’re also looking ahead and investing in innovation through initiatives such as our GoodTech Ventures programme. 

Across the organisation, colleagues have supported thousands of people to get their lives back on track - whether that’s through finding work, reintegrating into the community, or breaking the cycle of violence and exploitation. We continue to amplify the voices of young people and those with lived experience, and to deliver high-quality services that are being recognised by commissioners, inspectors, and partners alike. We have 

seen first-hand the difference that trusted relationships, evidence-led practice, and local collaboration can make to people’s lives. 

Alongside this external impact, we have also taken important steps forward as an organisation. We have strengthened our commitment to inclusion, invested in developing and celebrating our people, improved collaboration through the launch of our new intranet, CatchConnect, and set a clear long-term direction for the organisation through the launch of our new strategy, _Mission 2030._ 

None of these achievements would be possible without the unwavering support of our commissioners, funders, and partners, who continue to place their trust in us. 

Most importantly, I want to thank my Catch22 colleagues. Your dedication, compassion, and professionalism are at the heart of everything we do. Every day, you help people overcome barriers, build confidence, and realise their potential – often in the most challenging circumstances. 

Looking ahead, I am excited about the opportunities that our ambitious new five-year strategy, _Mission 2030_ , presents. Together, we will continue to innovate, collaborate, and advocate for change, ensuring that the people and communities we work with, and for, are heard, supported, and empowered. 

However you are connected to Catch22, thank you for being part of our journey and for the difference you make every day. 

## **Naomi Hulston, CEO** 

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## **Tackling youth violence takes political centre stage** 

We took our Manifesto asks to policy makers at this year’s political party conferences – with an emphasis on youth policy and prevention. 

As part of the Youth Zone, our roundtable event at the Labour Party Conference focussed on young people affected by violence - where the importance of youth voice and a joined-up approach across government departments was universally agreed. MPs Florence Eshalomi and Olivia Bailey attended, alongside London VRU Director Lib Peck and sector colleagues. 

We also held a roundtable at the Conservative conference the following week, bringing together a number of Policy and Crime Commissioners to look at effective local commissioning of public services to tackle youth violence. 

## **Expanding employability support for Care Leavers** 

It’s well publicised that people with experience of care often need a bit of extra support to get their feet on the job ladder. We’re proud to deliver Care Leavers into Careers (CLIC) – our employability programme for care experience young people which became firmly established in the Liverpool City Region, earning a place in the city’ s Leaving Care Offer. 

Building on the success of our pilot, we’ve secured a further three years of funding from Barclays, enabling expansion across the Northwest and beyond. 

## **Experts by Experience: Justice Podcast** 

The insights of people with lived experience plays a key part in how we model and deliver our services and programmes. Series 4 of our Catch22 Minutes podcast launched this month, with a series hearing from people who have been impacted by the Criminal Justice System.  Inspiring interviews covered topics such as: Remaining Hopeful, Revolutionising Systems, Giving Back to Young You and Creative Outlets. 

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## **Creative Careers at showcased at TikTok Creative Academy Bristol** 

This October, in partnership with Access Creative College Bristol, we brought together industry experts, engaging discussions, and hands-on experiences to inspire and equip the next generation of creatives. 

Through our TikTok Creative Academy programme, over 1,000 young creatives have joined us across various UK locations, gaining valuable insights, tools, and connections to launch their creative careers. 

## **New sites for Ipswich and Newport schools** 

Two of our alternative provision schools moved to new, fitfor purpose sites this year. Our schools in Wales is also set to expand its provision this year, to accommodate more students. 

## **Government officials visit The Hive** 

The Hive is Catch22’s free drop-in health and wellbeing service to support young people aged 16-24 who are connected to Camden. Officials from the Home Office, Department for Education and Department for Culture, Media and Sport, visited and spoke to colleagues about the benefits of The Hive’s holistic model and open access approach. 

The visit highlighted how The Hive’s work is preventative, aligning with the government’s focus on investing in early intervention hubs through its Young Futures programme. 

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## **Third sector’s role in justice system spotlighted** 

We believe the third sector has a vital role to play in shaping the future of the Criminal Justice System; whether that’s within the custodial setting or within the community. 

This year’s Catch22 justice conference brought together a diverse group of professionals to explore the crucial role of the third sector in transforming the Criminal Justice System (CJS). The event included music from InHouse Records UK, high profile keynote speakers and workshops on 

- Delivering social value through third-sector services 

- • Policy reform and advocacy 

- • The responsible use of AI in justice services 

- • Building ethical partnerships 

- • Providing holistic interventions for those in need 

## **Include Suffolk School scoops Children and Young People Now Learning Award** 

Our Alternative Provision Suffolk primary school received the national award for its high quality learning, reflecting the continued success of our school, building on the momentum of our recent ‘Good’ Ofsted rating. 

At the same awards, our County Lines Support and Rescue service was a finalist in the Safeguarding Award category, and The Hive in the Partnership Working category. 

Our colleagues at Redthread were shortlisted for The Youth Work Award and The Children and Young People’s Charity Award. 

## **HRH Princess Anne visits Hampshire 24/7** 

Catch22 Patron, HRH The Princess Royal, visited our specialist service supporting young people in Hampshire affected by substance misuse. She met with our interventions team, heard inspiring stories from the young people who have used our service to overcome challenges, and learned about our community-focused approach. 

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## **Energy Transition employability programme wins ERSA Skills to Work Award** 

Our employability programme that supports people facing barriers to work into jobs in the energy transition sector, is now award winning! Funded by Shell UK, and operating in London, Liverpool, Manchester and Norfolk, over the past 12 months, Energise has seen: 

- 1,306 people complete the programme 

- 379 secure employment with green employers 

- 147 earn an accredited energy transition/green qualification 

We expanded the programme in 2025, to include London and the South East and the East of England. 

## **Strengthening Parent-Pupil relationships** 

Parent and Child Together (PACT) Christmas Sessions were held in the Wales school this month, allowing parents and children interact through meaningful activities while teachers are able to coach and support parents by modelling and encouraging. The child drives the activities, but the parents learn how to follow their lead and foster learning. The reciprocal learning provides parents and children a chance to become lifelong partners in education. 

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## **Raising standards for victim services** 

This month, we published a comprehensive blueprint detailing our approach to victim services, which was met with an outstanding 99% satisfaction rate among service users. This milestone reflects our commitment to delivering high-quality support and ensuring that those affected by crime are empowered to rebuild their lives. By prioritising justice, impact, and quality, we help individuals and families develop the resilience needed to overcome adversity and contribute positively to their communities. 

## **GoodTech alumni recognised among the UK’s top innovators** 

Alumni from GoodTech Ventures were recognised in the prestigious 2025 Startups 100 list. Their achievements highlight the transformative power of tech-enabled innovation in the public service delivery space. Cogs AI, which provides mental health support to neurodivergent people, and SuperFi, which delivers a new approach to debt management and financial wellness, both made the list. By nurturing talent and supporting entrepreneurial journeys, Catch22 continues to foster aspiration and resilience, helping people realise their potential in a rapidly-changing world. 

## **Amplifying young people’s voices to shape safer online spaces** 

In response to the UK Youth Select Committee’s inquiry, we played a key role in amplifying the voices of young people on issues of youth violence and online harms. Our contribution emphasised the importance of listening to those directly affected by these issues and advocating for reforms that create safer digital environments. This work is central to Catch22’s mission of building aspiration and resilience, ensuring young people have the support and opportunities they need to thrive. 

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## **Driving justice reform** 

The Catch22 public service reform agenda saw us taking the insights from frontline delivery and using that to push for policy change. In particular, our _Fixing Fixed Term Recalls_ paper included recommendations to reduce disruptive short recalls within the justice system and improve rehabilitation outcomes. This work is closely linked to the wider Crime and Policing Bill, and our ongoing efforts to shape policy for the benefit of those we serve. 

## **Royal visit highlights transformational education outcomes in Suffolk** 

Our Patron, the Princess Royal’s, visit to our Include Suffolk school this month shone a spotlight on the positive outcomes achieved through our education provision. The event also highlighted the value of partnerships, in particular our collaboration with National Grid, in raising aspirations and supporting young people to overcome barriers to work. 

## **Helping thousands into sustainable work through award-winning employability support** 

Catch22’s employability and skills provision was recognised with the silver IEP ‘Professional Excellence’ award, celebrating our impact in supporting more than a thousand people into jobs and helping 64% sustain employment for over six months in the past year. Our employment support continues to thrive, empowering those furthest from the job market to build aspiration and pursue meaningful careers. 

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## **Reducing custodial violence through targeted interventions** 

March saw the launch of eXpand, our MOPAC-funded violence reduction service for remand cohorts at HMP Wandsworth and HMP Pentonville. The initiative is designed to reduce custodial violence and support reintegration, providing tailored interventions that help individuals develop the skills and confidence needed to re-enter society. 

## **Care Leavers Into Careers (CLIC) wins prestigious award** 

Our CLIC employability programme, funded by Barclays, won the ‘Preparing for Work’ award at the Liverpool City Region Culture and Creativity Awards this month. In the last year, the programme has supported over 150 care-experienced young people, with 50 of those securing work so far. The award recognises CLIC’s outstanding commitment to helping careexperienced young people gain the skills, confidence, and opportunities they need to thrive in the workplace. With over 650 nominations across categories, this achievement highlights the incredible impact our team is making in the community. 

## **Improving life satisfaction through community-led mental health support** 

Our Community Connectors programme is a placebased, community navigation and support service delivered by Community Links. It focuses on reducing health and social inequalities by helping people access the right support at the right time. In the last year, 925 people experiencing serious mental illness received holistic, community-based support, with 78% reporting significant improvements in life satisfaction. This is one of many of our place-based programmes that demonstrates the power of culturally-informed, relational approaches alongside clinical care. 

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## **Thousands set to benefit from extended green jobs programme** 

This month, our award-winning Energise programme, funded by Shell UK, received a two-year extension, allowing us to scale our support to over 3,000 people. The re-launch event in Liverpool, at which the Minister for Employment and the Mayor of Liverpool spoke, celebrated this milestone and reinforced our commitment to helping individuals build the skills and resilience needed for sustained employment in growth sectors. 

## **Commitment to closing gender pay gap** 

In April, we published our gender pay gap report, demonstrating our clear commitment to eradicating the median pay gap within five years. Our current median gap of 3.85% is a significant reduction on previous years, but one we’re still determined to erase completely. 

## **Protecting children at risk through integrated local safeguarding** 

April also saw the launch of Catch22’s new STEPS child exploitation service in West Mercia, providing vital support to children at risk. By working locally and integrating services, we’re continuing to build our child exploitation services portfolio, to safeguard the futures of vulnerable young people. 

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## **Independent inspection praises high-quality justice delivery** 

An independent inspection report praised Catch22’s Offender Management Unit (OMU) at HMP Thameside as “innovative,” “positive,” and “effective,” highlighting the strength and quality of our provision. We’re proud to be the only third-sector provider of an OMU in the country. 


## **Opening digital career pathways for women impacted by the justice system** 

Our Code4000 programme expanded its digital training offer to women impacted by the justice system. By equipping participants with coding skills, careers advice, and mentoring, we’re helping not only to secure careers in tech for women, but also reduce the likelihood of future reoffending. 


## **New Catch22 youth brand set to transform youth engagement** 

May also marked the launch of the Catch22 youth brand, which has been designed to drive engagement with our youth-facing services and programmes. Developed with the input of over 100 young people, we’re proud to have a new brand that speaks directly to them, their needs, and their ambitions. 

**“At Thameside, probation prison offender managers had large caseloads – including one with 90. In contrast, the rest of the population was looked after by Catch22 staff in an innovative, commissioned model in which caseloads were manageable and contact was maintained with prisoners.”** 

HM Chief Inspector of Prisons, Inspection Report 

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## **Celebrating our people and strengthening our learning culture** 

Our annual InspirEd staff conference brought together staff from across Catch22 to share best practice and celebrate achievements. With events in Bristol, London, Manchester, and online, colleagues from across the organisation delivered sessions that informed and inspired. 

The week culminated in our annual Celebrating Our People awards ceremony which, this year, was held at the iconic BT Tower. These awards highlight the dedication and impact of our teams, with categories including Team of the Year, the Care and Compassion Award, and Most Inspiring Leader. 

## **Innovative residential care continues to flourish** 

Lighthouse Pedagogy Trust (LPT), part of Catch22, creates children’s homes with an approach entirely informed by social pedagogy - a relationship-based way of working with children. 

This year, LPT launched the Graduate Diploma in Residential Childcare with Kingston University London, a UK-first, degree-level qualification for those working in residential care settings. The course has been carefully developed by experienced practitioners and sector leaders to prepare participants for the challenges of working in a children’s home. 

Speaking about the value of the course, Chief Social Worker, Isabelle Trowler CBE said: “This course can help systematise the individual brilliance we see across the 46,000 talented residential care practitioners in England.” 

Read LPT’s annual review here. 

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## **Rethinking school exclusions** 

This month, our thought-provoking blog explored the ‘turning points’ that shape young people’s futures, emphasising the importance of a cross-sector approach to supporting students through school removal and re-engagement. The piece builds on insights from the delivery in our alternative provision schools and colleges. 


## **Putting lived experience at the heart of justice reform** 

We were excited to launch of Season 6 of the Catch22Minutes podcast, ‘Experts by Experience’, which aims to amplify the voices of people with lived experience of the Criminal Justice System, informing better policy, services, and public understanding. Across the season, the podcast explored topics such as: 

- how lived experience can improve public services, 

- • the human impact of the justice system, 

- • stories of resilience and personal transformation, and 

- the role of relationships, creativity, and opportunity in supporting reintegration. 

**“We don’t see school exclusion as an end, but as a pivotal opportunity. It’s a chance to engage a young person who hasn’t received the support they need, and to help rebuild their confidence, skills, and future prospects.”** 

Catch22, The Turning Point blog 

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## **£2.1m recovered for Newham residents through trusted local advice** 

This year, Community Links supported over 1,400 people with free legal, housing, debt, and welfare advice, helping to recover over £2.1million in unclaimed benefits. This support helped stabilise households facing acute cost-of-living pressures and, in many cases, prevented problems from escalating into crisis. 

## **Showcasing stories of impact** 

The _Catch22 Zine_ is an annual publication, showcasing the breadth and depth of our work in a digestible and accessible style. This year’s issue included articles on restorative justice, employment in the creative sectors, the power of emojis – when symbols hide harm, and why we need youth policy to safeguard young futures. 

## **Care-experienced young people influence national policy and practice** 

Members of our Young People’s Benchmarking Forum shared insights at over 20 conferences and events this year. This allowed them to reach more than 1,100 professionals, influencing policy and practice. 

Their annual ‘In Their Own Words’ conference in August brought together local, regional, and national leaders, building on findings from their research - which gathered evidence from more than 200 careexperienced young people. Some of the key issues for care-experienced young people, which were highlighted during the event, included: 

- struggling to afford food, 

- financial barriers to starting work, and 

- housing insecurity and disincentives created by housing benefit rules. 

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## **THANK YOU** 

**Thank you to all our commissioners and funders, partners and stakeholders and our colleagues. Without you, we wouldn’t be able to have the impact we do.** 


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FINANCE AND
GOVERNANCE

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## **FINANCIAL OVERVIEW** 

Catch22 remains in a strong financial position with overall reserves remaining healthy and the group maintaining a robust balance sheet despite the sector-wide pressures being experienced. We are seeing continued tightening of public funding, ever increasing complexity of service user needs and rising delivery costs; due both to inflation and increasing compliance costs related to information security, data protection and environmental sustainability. 

This is the first full year without any academy schools in the group following the closure of the Catch22 Multi Academies Trust Ltd (MAT), which has led to the fall in income from Education delivery. We continue to remain committed to the delivery of alternative education though our independent schools, where income has been maintained at a similar level to the previous year, and we will continue to pursue opportunities to grow in this area. 

The closure of the MAT has led to an overall fall in income, but pleasingly the impact has been partly offset by growth in Justice and Young People, Families & Communities. 

Although donations and legacies have fallen by £2.2m this is due to two key one-off donations being received in the previous year; the first from a private individual to purchase our third children’s home and the second due to the acquisition of Redthread Youth Ltd by the group. 

Income from grants has increased by £1.2m due to new grants for employability programmes from corporate partners, funding for improved facilities for one of our Suffolk school sites and expansion of some existing programmes. Corporate funders continue to be cautious regarding funding new programmes, but we have successfully renewed many of our existing partnerships. 

As previously mentioned all the MAT schools had transferred by 1 April 2024, which accounts for the £5.8m year-on-year fall in Income from Charitable Activities in Education. Income grew in Justice and Young People, Families & Communities, due to new programmes, including the hospital-based youth work services that were acquired by the group with the acquisition of Redthread Youth at the end of the last financial year, and expansion of existing services. We continue to successfully retain many of our current services when they are recommissioned. 

In December 2024 we decided that it was the right time to exit our Jobs22 joint venture and we sold our remaining shares to our partner, the Angus Knight Group, with the proceeds now available to invest in Catch22 services. 

## **FUTURE PLANS** 

Following the closure of the MAT we have decided to change our next financial period so that it ends on 31 March 2026, to align with government’s financial year, and the reporting periods for many of our public service contracts. 

In August 2025 we acquired our second children’s home, under the Lighthouse Pedagogy Trust umbrella, funded by loans from two social investors. The property will be refurbished with a view to opening in late 2026. 

In December 2025 we launched Mission 2030, our new five-year long-term business strategy, which sets out how the organisation will deepen its impact and extend its reach by 2030. It reaffirms Catch22’s core mission to build resilience, aspiration, and prosperity in people and communities, while placing a stronger emphasis on public service reform and impactful delivery as its guiding principles. The strategy is underpinned by a commitment to prevention, tackling inequality, integrated pathways of support, and evidenceled practice, enabled by being people-centric, technology-enabled and financially responsible, and guided by values-driven ways of working that support lasting system change. 

We are currently finalising the implementation of a new target operating model for the organisation, which has been developed with our senior leadership team to enable us to deliver Mission 2030. 

We are continuing to see significant pressure on funding for public services, whilst demand and need is increasing which, combined with rising costs due to inflation and other factors e.g. rises in employer national insurance and real living wage and the costs of contractual compliance when delivering public services, means that in determining our new operating model we have also had to ensure the long-term financial sustainability of the organisation is secure by reducing leadership and management costs, so that resources are focussed on our delivery. 

As we have stated in previous years, we continue to believe that diversified income streams and scale 

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are key to continuing success and will proactively look to work with other organisations through merger, acquisition and partnership where this can bring added value to both organisations. We are continually reviewing our portfolio of services and where services continue to be financially unviable, we will if there are no other options, consider closing them to protect the financial security of the wider organisation. 

## **SUMMARY OF FINANCIAL RESULTS** 

The group’s financial performance for the year to 31 August 2025 is set out in the Statement of Financial Activities. 

In the previous year movements in Restricted Pension Funds and Restricted Fixed Asset Funds relate to the operations of the Catch22 Multi Academies Trust (MAT). The underlying financial performance of the group is therefore better represented by the movements on Restricted Funds, decrease of £0.3m (2024: increase of £0.3m) and Unrestricted Funds, decrease of £0.1m (2024: increase of £1.0m). 

Restricted Funds, mainly relate to grants received from corporate partners to deliver specific projects which by their nature are subject to variation year-on-year, and in previous years the operations of the MAT. Activities related to the closure of the MAT resulted in a decrease in Restricted Funds of £0.1m during the year (2024: £0.2m). Excluding the operations of the MAT Restricted Funds decreased by £0.2m (2024: increase of £0.5m), the in-year decrease related to expenditure on projects where the funding was received in the previous financial year. 

The decrease in Unrestricted Funds is after exceptional expenditure of £0.1m (2024: £0.1m). The exceptional expenditure during the year related to continued restructuring of the group’s support services following the transfer of the MAT academies. The decrease in Unrestricted Funds also includes expenditure on specific projects from Designated Funds of £0.8m (2024: £0.9m) and it also includes the sale of the group’s remaining shares in Jobs22 which yielded a profit on disposal of £1.0m (2024: £nil). Share of results of associated undertaking was £0.2m (2024: £1.0m), the reduction being due to the sale of the shares in Jobs22. 

The group’s consolidated balance sheet remains strong, with Restricted Reserves of £3.3m (2024: 

£3.6m) and Unrestricted Reserves of £16.8m (2024: £17.0m). These reserves continue to provide a solid base for the future of the organisation and the trustees have designated some of these reserves for future projects, the value of Designated Reserves at the year-end was £0.8m (2024: £1.1m). The trustees continue to place high emphasis on the importance on a strong balance sheet to protect the group from continued inflationary pressure and ongoing geo-political uncertainty which is continuing to put pressure on public finances; whilst driving increased demand for our services and inflationary pressure.  A strong balance sheet is also important to provide security to funders and commissioners when awarding grants and contracts. 

The group’s cash position remains strong with cash at bank and in hand of £4.8m (2024: £4.8m). We do expect some pressure on cash balances in the future as corporate funders, who tend to pay in advance, become more cautious due to the economic landscape, margins on public service delivery are squeezed due to inflationary pressure and some commissioners, particularly local government, setting payment terms of quarterly in arrears. The group is not using any of its overdraft or working capital facilities and has sufficient liquidity in its investments to meet any cash requirements. 

## **INCOME** 

Total income for the year to 31 August 2025 was £46.6m, compared with £51.1m for the previous year. Due to the transfer of MAT academies income in the MAT fell by £5.9m, meaning that income in the rest of the group increased by £1.1m, largely attributable to the additional income from the activities of Redthread that became part of the group at the end of the previous financial year. 

Donations, legacies, and grants rose slightly to 9% of income (2024: 8%). Included within Restricted Donations in the previous year was £1.2m from a private donor that will be used to acquire our third children’s home. The overall increase in percentage is due to increased income grant income from corporate partners. 

Income from charitable activities fell to £41.9m (2024: £45.3m). Education income decreased by £5.8m due to the transfer of the MAT academies, offset by a slight increase in income in our independent schools. Across our other activities income grew by £2.4m due the expansion of existing programmes and new programmes in 

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Justice and particularly in Young People Families and Communities, due to the acquisition of Redthread. 

Investments income was £401k (2024: £383k), broadly in line with the previous year. 

## **EXPENDITURE** 

Total expenditure for the year to 31 August 2025 was £48.7m, compared with £85.5m for the previous financial year, however the previous year includes an exceptional amount of £33.6m relating to a loss on disposal of long leasehold land and buildings because of the transfer of the MAT academies. Excluding this one-off exceptional cost expenditure was £51.9m. Restricted expenditure can include expenditure on grants received in previous years, and unrestricted expenditure also includes project expenditure from designated funds, but otherwise expenditure broadly correlates with changes in income received to deliver services and reflects the impact of inflation and the increased costs from meeting the increasingly complex needs of those we support. 

## **SUPPORT COSTS** 

Support costs increased slightly during the year to £6.1m (2024: £6.0m), largely due to inflationary pressure and the increasing costs of compliance. Support costs are 13% of income (2024: 12%) but our aim over the medium term, through income growth and investment in technology to improve efficiency, is for support costs to be no more than 10-11% of income. 

We will continue to invest in our support teams to ensure we are financially responsible; people centric and technology enabled. Our Mission 2030 Strategy and our new operating model emphasises the importance of our support functions as enablers. These teams will ensure that tools, processes, procedures, data, training and insight are cascaded across the organisation and they will partner with the business to formulate innovation and ideas to facilitate the delivery of impactful services and public sector reform 

## **NET GAINS/LOSS ON INVESTMENT ASSETS** 

The net gain on investments during the year was £0.3m (2024: £1.0m) and at 31 August 2025, after withdrawals, the portfolio was valued at £12.1m (2024: £11.8m), in addition, income earned from the portfolio was £0.2m (2024: £0.2m). 

## **INVESTMENTS** 

The investment portfolio is diversified both in terms of asset classes and global markets and are invested with a focus on sustainability. 

All investments were acquired within the Trustees’ powers.  The portfolio is held in general funds and is managed in accordance with an Investment Policy, which sets out the objectives of the fund, considers risk and liquidity requirements and sets out how the fund should be managed including the Board’s expectations around ethical and sustainable investment. The objective of the general fund is to provide a regular flow of income to support the daily activity of Catch22 and in addition, to achieve a level of capital growth which will preserve the real value of the fund over time and provide a capital fund for investment in approved development projects within Catch22. 

Our investment portfolio is managed by two firms of professional investment managers. The Trustees consider the performance of those managers and the investment portfolios they manage to be satisfactory and that our underlying investments are sound. 

## **RESERVES** 

The Finance Growth and External Audit Committee, on behalf of the Trustees, conducts an annual review of the level of unrestricted reserves in the general fund by considering risks associated with the various income streams, expenditure plans and balance sheet items. 

The level of Free Reserves that should be maintained by the organisation is determined by balancing two competing objectives. On the one hand ensuring we have maximum and prompt use of resources to deliver real impact for service users and realise our public service reform ambitions and, on the other hand, ensuring we have adequate resources to continue to deliver our services through periods of financial challenge and 

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uncertainty, and can be here for our beneficiaries over the medium and long term. 

The trustees assess the risks that the charity is exposed to on a regular basis and determine a range for Free Reserves considering these risks. The principal risks include: 

- an unexpected change in the level of our income; 

public spending to hold free reserves more than the current maximum amount set out under the reserves policy, whilst they explore further ways to invest the reserves in support of our new strategy, Mission 2030, to improve impact, deliver public service reform, and ensure the organisation is technology enabled, people centric and  financially sustainable. 

- the need to maintain services over the short term if funding streams reduce; 

- the likelihood of unexpected expenditure; and working capital requirements. 

In determining the Free Reserves trustees also consider future plans for Catch22 and the need to protect vulnerable participants, staff and volunteers in the unlikely event of unplanned closure of some of its services. 

Whilst this process cannot come up with a precise figure for Free Reserves, after taking these factors into consideration the trustees believe that the appropriate level for Free Reserves is between £3.7m and £6.4m for the group. 

Free Reserves are those that are freely available at the trustees’ discretion to help manage financial variability i.e., Unrestricted Reserves excluding fixed assets and bank borrowing secured against those fixed assets. 

At 31 August 2025 the group’s total reserves amounted to £20.1m (2024: £20.5m) of which £3.3m was restricted (2024: £3.6m) and £16.8m was unrestricted (2024: £17.0m). Of the unrestricted amount trustees have committed £0.8m (2024: £1.1m) over the next 2/3 years to support the delivery of the organisation’s business strategy. These designated reserves will fund projects to support the use of data and analytics to evidence and improve impact; improve the environmental sustainability of the organisation; grow its reach to more participants; develop and capture the social value delivered by the organisation; refurbish some of its delivery premises; provide additional facilities in our education sites; and allow innovation in delivery to increase impact and deliver our public service reform objectives. 

Of the remaining unrestricted reserves £10.4m (2024: £10.0m) is deemed to be Free Reserves. This is above the policy range (£3.7m to £6.4m) set by the trustees, but they continue to consider it prudent, given the current inflationary pressure in the economy, the continuing impact of cost-ofliving on our staff and service users and the impact of current geo-political uncertainty on future 

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## **FINANCIAL RISKS** 

## **Liquidity risk** 

The group’s objective is to maintain a balance between cash balances and long-term investments. The group’s policy on liquidity risk is to ensure there are sufficient cash balances to meet the day-to-day needs of the organisation while investing surplus balances in fixed asset investments. 

## **Market risk** 

The group’s exposure to market risk arises primarily from the group’s fixed asset investments. The group’s policy is to utilise the services of professional investment managers to manage the fixed asset investments. Performance of these investments and therefore the investment managers is reviewed every month by the senior management team. The Finance, Growth and External Audit Committee have been appointed by the Board to oversee the performance of our investment managers. 

## **Credit risk** 

The group is mainly exposed to credit risk in relation to money due from commissioners in relation to its delivery of services. The vast majority of these commissioners have proved to be extremely credit worthy. Nevertheless, we operate a proactive credit control system designed to ensure payment is received quickly and that problems are identified as early as possible, and the appropriate action is taken. The maximum exposure to credit risk is represented by the carrying amount of each financial asset in the balance sheet. 

## **Foreign exchange risk** 

The group does not have any significant exposure to foreign exchange risk. 

## **Other risks** 

The unstable geo-political environment, and the impact of increasing inflation has been considered on the group’s future plans and budgeting processes, and the potential impact of this coupled with restrictions on future government spending, will continue to be a risk for future financial periods. 

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## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **FORMATION AND STRUCTURE OF THE CHARITY** 

Catch22 was incorporated as a Company Limited by Guarantee on 28 April 2008. It was registered as a charity on 19 May 2008. 

Its objectives, as stated in its memorandum of association, are: ‘to promote opportunities for the development, education and support of young people in need to lead purposeful, stable and fulfilled lives and to promote safer, crime free communities for the benefit of the public.’ 

We have considered the Charity Commission’s guidance on public benefit, including the guidance ‘Public benefit: running a charity (PB2). In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set, taking account of the available guidance on public benefit. 

The trustees are satisfied that Catch22 has aims and objectives and carries out activities that are for the public benefit in that the support provided to individuals, families and communities directly benefits each of those groups and therefore the wider public. 

Catch22 is the sole trustee of The Royal Philanthropic Society incorporating the Rainer Foundation and is the sole member of The Crime Concern Trust Limited. Both are charities.  The Rainer Foundation has released its permanent endowment and is now dormant.  Crime Concern is also now dormant. 

Catch22 holds 100% of the share capital of Catch22 Social Enterprise Limited – dormant. 

Enterprise Solutions Limited – does not trade but holds 49.49% of the membership of Public Services Lab LLP, a partnership focussed on delivering public service reform in the Liverpool City region. 

Catch22 also owns 100% of Include, a company limited by guarantee - dormant. 

Catch22 also owns 100% of Catch22 Multi Academies Trust Limited, a company limited by guarantee – advances education in the United Kingdom. Activities were ceased during the previous financial year and the company is in liquidation. 

Catch22 also owns 100% of Community Links Trust Limited, a company limited by guarantee and a registered charity – charitable objectives include providing such information, advice and assistance, as is charitable, to groups and individuals. Currently delivers regulated advice services on behalf of the group. 

Catch22 also owns 100% of Community Links Trading Limited - events management, production services and storage with any profits generated gifted to Catch 22 Charity Limited. Ceased trading in February 2023 and is now dormant. 

Catch22 also owns 100% of Ripplez CIC, a company limited by guarantee – dormant. A strike-off application has been made to Companies House. 

Catch22 also owns 100% of Redthread Youth Limited, a company limited by guarantee and a registered charity – charitable objectives are (1) the advancement of health or saving of lives through the preservation and protection of the health and wellbeing of young people by providing and assisting in the provision of facilities, counselling, support services and equipment not normally provided by the statutory authorities, (2) the advancement of education of young people through the provision of information and outreach to improve their health and wellbeing. The company is now dormant, following the transfer of all its activities to Catch22 on 1 April 2025. 

Please see note 12 for disclosure of the performance of each subsidiary. 

Catch22 owns 100% of Pupil Parent Partnership Limited, a company limited by guarantee – dormant. A strike-off application has been made to Companies House. 

Catch22 also owns 100% of Catch22 Social 

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## **GOVERNANCE** 

## **Safeguarding** 

Catch22 is a diverse and dispersed organisation supporting some very vulnerable service users and we recognise that safeguarding is the responsibility of everyone. We are committed to ensuring that all staff are appropriately trained, including all operational staff receiving NOCN endorsed training, to ensure they are aware of the signs to look for. We also ensure our managers receive safer recruitment and managing allegations training. Catch22 has a dedicated Safeguarding team, responsible for ensuring policies and procedures are in place and offering safeguarding advice and training to services. The Head of Safeguarding reports into the senior leadership team and regularly reports to the Board of Trustees through the Governance, Risk and Internal Audit Committee. The role is focussed on continuous improvement of our safeguarding practice. 

The trustees have appointed a trustee with responsibility for oversight of the group’s safeguarding practice. This trustee, along with the Head of Safeguarding and other operational leaders, is a member of our Safeguarding Forum who meet regularly to discuss emerging trends, the effectiveness of our safeguarding practice and to share learning across services. 

Each Catch22 service has a DSL (Designated Safeguarding Lead) and a Deputy DSL. These positions have received additional training and, where appropriate, training from their LCSP (Local Children’s Safeguarding Partnership) in order to fulfil these roles. 

Over this financial year, in line with previous periods, there were various safeguarding incidents, as we would expect given the nature of our work, primarily made up of disclosures made by the vulnerable young people and adults that we work with. Where appropriate these were escalated to the relevant safeguarding authority, including Local Authority Designated Officers where appropriate. 

We have IT platforms for safeguarding incident reporting and management to improve communication and reduce the bureaucratic burden, both at the point of reporting and in the administration of monitoring, following-up actions, and trend analysis so that more resources can be focussed on keeping our service users safe. 

## **Modern Slavery** 

Catch22 has a zero-tolerance approach to modern slavery, and we are committed to acting ethically and with integrity in all our business dealings and relationships and to implementing and enforcing effective systems and controls to endeavour to ensure that modern slavery is not taking place anywhere in our own business or in any of our supply chains. 

We are also committed to ensuring there is transparency in our own business and in our approach to tackling modern slavery throughout our supply chains, consistent with our disclosure obligations under the Modern Slavery Act 2015. We expect the same high standards from all of our contractors, suppliers and other business partners, and as part of our contracting processes, we include specific prohibitions against the use of forced, compulsory or trafficked labour, or anyone held in slavery or servitude, whether adults or children. We also expect that our suppliers will hold their own suppliers to the same high standards. 

## **Trustee Board and Committees** 

The board of trustees are aware of its duty under Section 172 of the Companies Act 2006 to act in a way they consider, in good faith, would be most likely, as an organisation that exists to deliver public benefit, to promote the success of the charitable group to achieve its charitable purposes, and in doing so have regard (amongst other matters) to: 

a) the likely consequences of any decision in the long term, 

b) the interests of the company’s employees, c) the need to foster the company’s business relationships with suppliers, customers and others, 

d) the impact of the company’s operations on the community and the environment, 

e) the desirability of the company maintaining a reputation for high standards of business conduct, and 

f) the need to act fairly between members of the company. 

On joining the board of trustees, a new trustee will be briefed on their duties, which are partly fulfilled through the governance structure set out below, including the delegation of day-to-day decision making to the Chief Officer Group. Trustees are also provided with the guidance issued by the Charity 

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Commission ‘The essential trustee: what you need to know, what you need to do’ and The Charity Governance Code. 

All trustees embrace our vision to build a strong society, where everyone has good people around them, a purpose, and a good place to live and promote our organisational values to ensure: 

senior management. 

Matters reserved for the board include (among others): 

   - Setting the charity’s strategy; 

   - Approval of the organisational business plan and annual budget; 

   - Approval of any changes to the group structure; 

- we are compassionate – we care about people, supporting them to move forward 

- we empower others – we give people the knowledge, skills and opportunities to thrive 

- we are collaborative – we do things with people, not to them 

- we are curious – we explore, innovate and challenge to improve what we do. 

The trustees consider that they have fulfilled their obligations under Section 172, as evidenced throughout this report. 

An external governance review took place during 2022/23 and whilst the review evidenced strong governance practice is in place, the recommendations for further improvement have been implemented and continuous improvement, in-line with best practice, continues to be overseen by the Governance, Risk and Internal Audit Committee. The organisation’s Governance Manual is reviewed annually by this committee. 

## **Governance Structure** 

The Trustee board meets at least six times a year, including an annual strategy day,  and has established three committees to which certain functions are delegated. These are: the Finance, Growth and External Audit Committee; the Governance, Risk and Internal Audit Committee; and the People and Performance Committee. 

Each committee meets at least four times a year and reports back to the Trustee Board. 

The committees monitor progress against goals and targets that flow from the strategic plan set by the Trustee board. 

Catch22 complies with ‘Good Governance: A Code for the Voluntary and Community Sector’ issued by the Governance Code Steering Group. 

There is a scheme of delegation in place which sets out what matters are reserved for the trustee board and what is delegated to the chief executive and 

- Appointment of the chief executive 

Matters delegated to the chief executive include (among others): 

- Establishing joint working arrangements; 

- Development of new services; 

- Tenders for new contracts (with a value of up to £10m); 

- Appointment of the executive management team 

## **Valuing our Trustees – recruitment, induction and ongoing training** 

The People and Performance Committee oversees the recruitment of Trustees and ensures there are provisions in place to support with trustee skills and development.  The committee undertakes a periodic skills audit of the Board which supports in identifying training needs as well as informing future succession planning. Applications for Trusteeship are sought through open advertisement, use of specialist agencies and personal contacts. Applicants are assessed against a trustee job description and shortlisted candidates are interviewed by a panel of Trustees and appointed by the Trustee Board. Trustees are normally appointed for three years and may be reappointed for a further three years subject to agreement of the Board.  A further three-year period is available if it is considered to be in the best interest of Board stability. The chair is also appointed for 3 years and can be reappointed as above. 

New Trustees are provided with induction meetings with key staff and are given a detailed governance pack. Arrangements are made for Trustees to visit Catch22’s projects and services. Trustees receive information newsletters, presentations on aspects of Catch22’s work and on matters affecting the voluntary sector. 

Catch22 expects all those involved in its governance to make a reasonable commitment 

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to ongoing development and training. This may involve away days, service visits, presentations and other internal functions as well as opportunities to attend relevant external events such as seminars, courses and conferences. 

Catch22 also circulates publications of general interest and provides access to magazines, articles, newsletters, policy briefings and other documents of more specialist interest. 

## **Setting Pay and Remuneration of Key Management Personnel** 

Setting Pay and Remuneration of key management personnel is the responsibility of the People and Performance Committee. In setting pay and remuneration, they consider performance management information, the overall financial performance of the organisation and relevant benchmarks within the sector. 

## **Engagement with our People** 

We recognise that our people, both staff and volunteers, are key to the success of the organisation and to delivering the impact we seek for our beneficiaries. We engage with our people through a variety of channels to keep them informed, seek their views, encourage their involvement and develop common awareness. These channels include, amongst others: 

- regular service visits by the Chief Officer Group and trustees, 

- regular question & answer session with the Chief Officer Group and organisational leaders, including in person events, 

- an annual staff conference and awards which trustees attend, 

- a monthly newsletter, supported with information on our intranet, 

- an annual staff survey and regular pulse surveys, 

- an employee voice forum with representatives from across the organisation 

Information gathered by the senior leadership team is fed back to trustees via reports submitted to and discussions held at the People and Performance Committee. 

## **Business Relationships** 

We recognise that relationships with business stakeholders are key to our success and long-term sustainability. Strong, collaborative relationships with our commissioners and funders enable us to work with them to find new ways of supporting our beneficiaries and to respond to their changing needs. These relationships are also key to securing ongoing funding. 

We also seek to engage with the wider sector through professional bodies and interest groups to both seek and share best practice and collaborate on finding solutions to shared challenges. 

We value all our suppliers and look to identify our key suppliers and put multi-year contracts in place and adopt a partnership approach to the relationship where any concerns are worked through together to find mutually beneficial solutions. We also have several small subcontractor organisations who are part of our Community Partner Network, and who deliver services on our behalf, and we adopt a supportive approach to contract management and help them to build their capacity. 

We continue to use our platform to incubate fledging social enterprises focussed on delivering better social outcome and reforming public services. 

## **Environment** 

We recognise the urgent need to address climate change and are committed to playing our part in creating a sustainable future. Our goal is to achieve net zero carbon emissions by 2050, in alignment with global targets. Additionally, we will strive to reach net zero by 2045, if possible, reflecting our dedication to reducing our environmental impact and fostering a healthier planet for future generations. 

Our Sustainability Champions network, led by our Sustainability Manager, helps to raise awareness and drive environmental initiatives in our organisation. Key activities during 2024/25 have been: 

- Retrofitted our London head office with LED lighting, delivering an estimated 60% reduction in electricity use and cost. 

- Continued with our 100% green electricity tariff with SSE across 14 operational delivery sites. 

- Sustainability Champions and senior staff (16 

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in total) completed Carbon Literacy Training, and we are now developing a bespoke Catch22 Carbon Literacy programme to launch next year for employees and partners. 

- 1,088 clients took part in our Energise programme, a Shell-funded 4-week pre-employment programme focused on the Net Zero / Green Jobs Market. 

- 324 clients progressed into full-time employment and came off benefits, with 22% entering roles classed as Green or Net Zero. 

- During summer 2025, we launched a new environmental education programme at one of our Include Schools in Lowestoft, using an interactive game with an activity book, outdoor mat, and curriculum-aligned activities to build environmental awareness, connection with nature, and support children’s wellbeing. 

- We continue to improve our waste and recycling facilities. Our three central offices have now been upgraded, and staff awareness has increased through clearer guidance and on-site engagement. Rollout to additional sites is underway, with further improvements planned. 

- We continue to promote sustainable travel across Catch22 by offering our low-emission Car Salary Sacrifice scheme and the Cycle to Work scheme. These benefits support staff to reduce their travel emissions while providing more affordable, environmentally friendly commuting options. 

Our consumption and emissions for 2024/25 were as follows: 

|**Energy type**|**Consumption**<br>**2024/25**|<br>**Emissions**<br>**2024/25**|**Emissions**<br>**2023/24**|
|---|---|---|---|
|Gas|548,793 kWh|100 tCO2e|225 tCO2e|
|Electricity|471,603 kWh|84 tCO2e|115 tCO2e|
|Transport*<br>**Total Emissions**|800,211<br>miles|239 tCO2e<br>**423 tCO2e**|261 tCO2e<br>**601 tCO2e**|
|**Intensity ratio per**<br>**£m/turnover ****||**9.1 tCO2e**|**11.8 tCO2e**|



*Transport includes employee mileage claims, car hires, long-term vehicle leases and owned vehicles 

** 2022/23 intensity ratio 14.6 tCO2e 

intensity ratio. We remain confident that this ratio will continue to reduce as we launch and embed new initiatives in the future. 

## **Trustees’ responsibilities** 

The Trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations. 

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice. 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 Group and charity and of the surplus or deficit of the Group for that period. 

In preparing these financial statements, the Trustees are required to: 

- select suitable accounting policies and then apply them consistently 

- make judgements and accounting estimates that are reasonable and prudent 

- state whether applicable UK Accounting Standards 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 it is inappropriate to presume that the Charity will continue in operation. 

- observe the methods and principles in the Charities SORP. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company’s auditor is unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 

Our energy and gas consumption decreased this year, gas by 50% and electricity by 15%, due to the closure of our Multi Academy Trust Schools. As a result, we no longer operate eight sites. This, combined with some of the other initiatives we have implemented, led to a 23% reduction in our 

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The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Financial statements are published on the Charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the Charity’s website is the responsibility of the Trustees. The Trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein. 

## **Risk management** 

The Trustees have in place a robust risk management process, that considers their overall risk appetite and their risk appetite specific to different risk categories. The process identifies the types of risks the charity faces, prioritises them in terms of likelihood of occurrence and potential impact, identifies the means of managing these 

risks and then monitors how they are managed. Development and review of the risk management arrangements are the responsibility of the Governance, Risk and Internal Audit Committee who meet quarterly and review the risk register. The Chief Officer Group are responsible for managing risk across the organisation and receive regular updates from the Director of Governance, Risk and Compliance at their monthly meetings on key risks, and they ensure that appropriate mitigating action is taken. The Director of Governance, Risk and Compliance chairs a monthly internal Risk Forum attended by risk leads across key functions e.g. safeguarding, health & safety, governance, information security and finance that seeks to identify risks early and take appropriate and timely mitigating action. 

The internal audit programme is agreed annually with the Governance, Risk and Internal Audit Committee and focuses on the key areas of risk within the organisation. Audit findings and progress on implementing actions is reported quarterly to the committee. 

The key risks identified by Catch22 at the end of 2024/25, which have not materially changed from the previous year, together with the actions taken or intended to be taken in response to these risks are as follows: 

|**RISK**|**MITIGATING ACTIONS**|
|---|---|
|**Failure to keep our service**|Established policies and procedures with clear training and staff|
|**users safe.**|competency expectations embedded throughout the organisation,|
||monitored through regular supervisions and internal audit, overseen|
||by Head of Safeguarding. Designated safeguarding leads appointed|
||in all our services. Safeguarding incident management systems in|
||place across the organisation. Risk Forum established to quickly|
||identify concerns and trends and implement mitigating actions and|
||Safeguarding Forum in place to share best practice.|
|**Loss of income due to**|Continued focus of resources in our business development and|
|**public sector spending**|partnerships teams, maintaining our diversifed income streams,|
|**cuts because of the macro-**|keeping our quality high to secure repeat business and our costs|
|**economic climate, in**|competitive to ensure that our cost basis is sustainable over the|
|**addition to rising costs due**<br>**to infationary pressure,**|longer-term. We also continue to be focussed on building and main-<br>taining strong commissioner and funder relationships, securing an|
|**increases in the rate of**|increased proportion of voluntary grant income and developing in-|
|**employer national insurance**|come streams from trading activity along with ensuring our support|
|**and the need to support staff**|teams are appropriately structured, technology enabled and deliver|
|**with the continuing impact of**<br>**infation.**|value for money. Financial performance, future forecasts and our<br>income pipeline is regularly monitored by the Finance, Growth and|
||External Audit Committee.|



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|**Loss of control of personal or**|Mitigated by robust data protection and information security pol-|
|---|---|
|**sensitive data**|icies, in line with the General Data Protection Regulation (GDPR),|
||supported by staff briefngs and compulsory training. We review the|
||risk of a breach of our IT platforms on an ongoing basis and take|
||appropriate mitigating action to keep them secure. We hold Cyber|
||Essentials Plus certifcation and ISO27001: Information Security<br>Management certifcation for our core central processes and infra-|
||structure, along with certain other contracts. The whole organisation|
||works to the principles of the same Information Security Manage-|
||ment System and over time we intend to continue to expand the|
||scope of our ISO27001 certifcation.|
|**Failure to ensure the wellbe-**|Our People team continuing to develop our wellbeing offer and our|
|**ing and safety of staff, par-**|policy on staff supervision meetings includes the requirement to|
|**ticularly those working with**<br>**vulnerable benefciaries.**|discuss staff welfare. Increased focus on mental health support<br>within the organisation, including trained mental health frst aiders.|
||We have a professional health and safety team in post with em-|
||bedded health and safety policies and procedures, underpinned by|
||compulsory training for managers and regular health and safety in-|
||spections with follow-up of actions. Incident management system in|
||place across the organisation to enable us to react more quickly to|
||incidents, learn lessons and identify trends, which is reviewed by the|
||Risk Forum. An enhanced Employee Assistance Offer has also been|
||rolled out to support any members of staff who have been affected|
||by serious incidents.|
|**Serious incident results in**|Appropriate policies and procedure are in place to mitigate the risk|
|**adverse publicity leading to**|of a serious incident occurring. Critical Incident policy in place and|
|**reputational damage.**|crisis management training provided to key staff. Reactive commu-|
||nication strategy prepared.|
|**Loss of commercially sensi-**|Catch22 have created an AI working group and have updated exist-|
|**tive information through the**<br>**misuse of Artifcial Intelli-**|ing policies and guidance to advise on the correct use of informa-<br>tion, including issuing guidance around what tools the organisation|
|**gence (AI) technology.**|advocates for use.|
|**An increase in the complex-**|Demand, capacity and risk are regularly reviewed using manage-|
|**ity of service users’ needs,**|ment information to ensure staffng levels, caseloads, and service|
|**requiring additional time,**|models remain proportionate to the complexity of service user|
|**resources, and staff capacity**|needs. Staff are appropriately trained, supported, and supervised|
|**to manage effectively.**|to manage complex needs safely and effectively, with clear access|
||to specialist advice, refective practice, and escalation routes. Clear|
||prioritisation and escalation processes are embedded, ensuring|
||individuals with the highest levels of need or risk receive timely, co-|
||ordinated, and person centred interventions. Effective partnership|
||and multi agency working arrangements are in place, supported by|
||clear information sharing protocols to ensure holistic, joined up care|
||and continuity of support.|



- Further information about Catch22 can be found at: catch 22.org.uk 

Signed on behalf of the Board of Trustees on 20 May 2026. 

Caroline Artis Interim Chair, Catch22 Charity Ltd 

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## **AUDITOR’S REPORT** 

## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CATCH22 CHARITY LIMITED** 

## **Opinion** 

We have audited the financial statements of Catch 22 Charity Limited (the ‘parent charitable company’) and its subsidiaries (the ’group’) for the year ended 31 August 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Parent Charitable Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including 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: 

- give a true and fair view of the state of the group’s and the parent charitable company’s affairs as at 31 August 2025 and of the group’s incoming resources and application of resources, including its 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 requirements of the Companies Act 2006. 

## **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 Auditor’s 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 UK, including the FRC’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 group’s and parent 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. 

## **Other information** 

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained in 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 there is 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. 

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## **AUDITOR’S REPORT (continued)** 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the strategic report and the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the strategic report and the trustees’ annual report have been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the trustees’ annual report. 

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

- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or 

- the parent charitable company’s financial statements are not in agreement 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. 

## **Responsibilities of trustees** 

As explained more fully in the trustees’ responsibilities statement set out on page 27, 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 group and parent 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 group or parent charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s 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 auditor’s 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: 

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

31 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **AUDITOR’S REPORT (continued)** 

## **Auditor’s responsibilities for the audit of the financial statements (continued)** 

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the group and parent charitable company’s internal control. 

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern. 

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

- Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit report. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** 

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. 

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company. 

Our approach was as follows: 

- We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, the Charities Act 2011, the Charity SORP, and UK financial reporting standards as issued by the Financial Reporting Council 

- We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance. 

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. 

- We inquired of management and those charged with governance as to any known instances of noncompliance or suspected non-compliance with laws and regulations. 

32 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **AUDITOR’S REPORT (continued)** 

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required. 

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 

## **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 which we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


James Saunders (Senior Statutory Auditor) for and on behalf of Moore Kingston Smith LLP, Statutory Auditor 

22/5/2026 

9 Appold Street London EC2A 2AP 

33 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT for the year ended 31 August 2025** 

|**Note**<br>**Income from**<br>Donations and legacies<br>2<br>Grants<br>2<br>Income from charitable activities<br>5<br>Income from trading activities<br>Income from investments<br>3<br>**Total income**<br>**Expenditure on**<br>**Raising funds**<br>**Charitable activities**<br>Ordinary activities<br>5<br>Exceptional<br>5<br>**Trading activities**<br>**Total expenditure**<br>Net gains on investments<br>11<br>Share of results of associated<br>undertaking<br>11<br>Net gain on disposal of associate<br>11<br>**Net (expenditure)**<br>**for the period**<br>**Transfers between funds**<br>16,17<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward|**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Year to**<br>**31 August**<br>**2025**<br>**Year to**<br>**31 August**<br>**2024**<br>**£’000**<br>**£’000**<br>**£’000**<br>£’000<br>235<br>345<br>**580**<br>2,794<br>3,083<br>475<br>**3,558**<br>2,401<br>8,029<br>33,898<br>**41,927**<br>45,327<br>-<br>113<br>**113**<br>193<br>58<br>343<br>**401**<br>383|
|---|---|
||**11,405**<br>**35,174**<br>**46,579**<br>51,098|
||-<br>343<br>**343**<br>376<br>11,561<br>36,687<br>**48,248**<br>51,386<br>-<br>93<br>**93**<br>33,688<br>-<br>-<br>-<br>13|
||**11,561**<br>**37,123**<br>**48,684**<br>85,463<br>-<br>314<br>**314**<br>1,007<br>-<br>224<br>**224**<br>981<br>-<br>1,125<br>**1,125**<br>-|
||**(156)**<br>**(286)**<br>**(442)**<br>(32,377)<br>(142)<br>142<br>-<br>-|
||**(298)**<br>**(144)**<br>**(442)**<br>(32,377)<br>3,569<br>16,950<br>**20,519**<br>52,896|
||**3,271**<br>**16,806**<br>**20,077**<br>20,519|



The Group had no recognised gains or losses other than those dealt with in the Statement of Financial Activities. 

All income and expenditure derive from continuing activities. 

The statement provides the consolidated information for the charitable company and its subsidiary undertakings.  Total income for the charitable company alone was £46,633k (2024: £45,358k) and net income was £670k (2024: £640k). 

The notes on pages 38 to 60 form part of these financial statements. 

34 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **CONSOLIDATED BALANCE SHEET - 31 August 2025 Company number: 06577534** 

|**Note**<br>**Fixed assets**<br>Intangible assets<br>7<br>Tangible fixed assets<br>9<br>Investments<br>11<br>**_Current assets_**<br>Stock<br>Debtors<br>13<br>Cash at bank and in hand<br>**_Current liabilities_**<br>Creditors: amounts due within one year<br>14<br>**Net current assets**<br>Creditors: amounts falling due after more than one year<br>15<br>**Net assets**<br>18<br>_Funds_<br>Restricted funds<br>16<br>General fund<br>17|**31 August 2025**<br>**£’000**<br>**£’000**<br>143<br>6,853<br>12,218<br>**19,214**<br>86<br>5,537<br>4,838<br>**10,461**<br>**(8,273)**<br>**2,188**<br>**21,402**<br>**(1,325)**<br>**20,077**<br>3,271<br>16,806<br>**20,077**|**31 August 2025**<br>**£’000**<br>**£’000**<br>143<br>6,853<br>12,218<br>**19,214**<br>86<br>5,537<br>4,838<br>**10,461**<br>**(8,273)**<br>**2,188**<br>**21,402**<br>**(1,325)**<br>**20,077**<br>3,271<br>16,806<br>**20,077**|**31 August 2024**<br>**£’000**<br>**£’000**<br>205<br>5,711<br>12,092<br>18,008<br>82<br>6,645<br>4,817<br>11,544<br>(8,765)<br>2,779<br>20,787<br>(268)<br>20,519<br>3,569<br>16,950<br>20,519|**31 August 2024**<br>**£’000**<br>**£’000**<br>205<br>5,711<br>12,092<br>18,008<br>82<br>6,645<br>4,817<br>11,544<br>(8,765)<br>2,779<br>20,787<br>(268)<br>20,519<br>3,569<br>16,950<br>20,519|
|---|---|---|---|---|
|||**19,214**<br>**2,188**||18,008<br>2,779|
||**10,461**<br>**(8,273)**||11,544<br>(8,765)||
||||||
|||**21,402**<br>**(1,325)**||20,787<br>(268)|
|||**20,077**||20,519|
|||3,271<br>16,806||3,569<br>16,950|
|||**20,077**||20,519|



The financial statements were approved by the Board of Trustees and authorised for issue on 20 May 2026 


## Caroline Artis 

_Interim Chair_ 

The notes on pages 38 to 60 form part of these financial statements. 

35 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **CHARITY BALANCE SHEET - 31 August 2025 Company number: 06577534** 

|**Note**<br>**Fixed assets**<br>Intangible assets<br>8<br>Tangible fixed assets<br>10<br>Investments<br>11<br>**_Current assets_**<br>Stock<br>Debtors<br>13<br>Cash at bank and in hand<br>**_Current liabilities_**<br>Creditors: amounts due within one year<br>14<br>**Net current assets**<br>Creditors: amounts falling due after more than one year<br>15<br>**Net assets**<br>_Funds_<br>Restricted funds<br>16<br>General fund<br>17|**31 August 2025**<br>**£’000**<br>**£’000**<br>143<br>6,853<br>12,113<br>**19,109**<br>86<br>5,646<br>4,586<br>**10,318**<br>**(8,276)**<br>**2,042**<br>**21,151**<br>**(1,325)**<br>**19,826**<br>3,148<br>16,678<br>**19,826**|**31 August 2025**<br>**£’000**<br>**£’000**<br>143<br>6,853<br>12,113<br>**19,109**<br>86<br>5,646<br>4,586<br>**10,318**<br>**(8,276)**<br>**2,042**<br>**21,151**<br>**(1,325)**<br>**19,826**<br>3,148<br>16,678<br>**19,826**|**31 August 2024**<br>**£’000**<br>**£’000**<br>205<br>5,699<br>11,814<br>17,718<br>82<br>6,307<br>3,852<br>10,241<br>(8,535)<br>1,706<br>19,424<br>(268)<br>19,156<br>3,112<br>16,044<br>19,156|**31 August 2024**<br>**£’000**<br>**£’000**<br>205<br>5,699<br>11,814<br>17,718<br>82<br>6,307<br>3,852<br>10,241<br>(8,535)<br>1,706<br>19,424<br>(268)<br>19,156<br>3,112<br>16,044<br>19,156|
|---|---|---|---|---|
|||**19,109**<br>**2,042**||17,718<br>1,706|
||**10,318**<br>**(8,276)**||10,241<br>(8,535)||
||||||
|||**21,151**<br>**(1,325)**||19,424<br>(268)|
|||**19,826**||19,156|
|||3,148<br>16,678||3,112<br>16,044|
|||**19,826**||19,156|



As permitted by s408 of the Companies Act 2006, the company has not presented its own statement of financial activities and income and expenditure account. The company’s net income in 2025 was £670k (2024: £640k) 

The financial statements were approved by the Board of Trustees and authorised for issue on 20 May 2026 

Caroline Artis _Interim Chair_ 

Company Registration No. 06577534 

The notes on pages 38 to 60 form part of these financial statements. 

36 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 August 2025** 

|**Net (expenditure) for the reporting period**<br>Adjusted for:<br>Net (gains) on investments<br>Share of profits of associate<br>Profit from sale of shares in associate<br>Fair value of assets acquired on acquisition of subsidiary<br>Loss on disposals of tangible fixed assets on academy<br>transfer<br>Loss on disposal of tangible fixed assets<br>Depreciation charges<br>Amortisation charges<br>Interest receivable<br>Investment income receivable<br>Interest payable<br>(Increase) in stock<br>Decrease/(Increase) in debtors<br>(Decrease) in liabilities<br>**Net cash (used in) operating activities**<br>**Investing activities**<br>Cash inflow from sale of shares in associated company<br>Cash inflow from acquisition of subsidiary<br>Purchase of intangible fixed assets<br>Purchase of tangible fixed assets<br>Proceeds from sale of investments<br>Interest received<br>Investment income received<br>**Net cash generated from investing activities**<br>**Financing Activities**<br>New borrowing<br>Repayment of borrowings<br>Interest paid<br>**Net cash generated from/(used in) financing activities**<br>**Net (decrease)/increase in cash and cash equivalents**<br>**in the reporting period**<br>Cash and cash equivalents at beginning of year<br>**Cash and cash equivalents at end of year**<br>**Relating to:**<br>Bank balances and short-term deposits<br>**Cash and cash equivalents**<br>**Analysis of changes in net debt**<br>Cash at bank and in hand<br>Debt due within one year<br>Debt due after one year<br>**Total**|**Note**<br>**Year to**<br>**31 August 2025**<br>**Year to**<br>**31 August 2024**<br>**£’000**<br>**£’000**<br>**(442)**<br>(32,377)<br>11<br>(314)<br>(1,007)<br>11<br>(224)<br>(981)<br>11<br>(1,125)<br>3,12<br>-<br>(889)<br>4,5,9<br>-<br>33,579<br>4,9<br>4<br>4<br>10<br>223<br>250<br>7<br>68<br>97<br>3<br>(191)<br>(163)<br>3<br>(211)<br>(219)<br>1<br>3<br>(4)<br>(29)<br>1,108<br>(210)<br>(681)<br>(2,439)<br>**(1,788)**<br>(4,381)<br>11<br>1,288<br>-<br>3,12<br>-<br>610<br>7<br>(6)<br>(100)<br>9<br>(1,369)<br>(364)<br>24<br>33<br>191<br>163<br>436<br>1,201<br>**564**<br>1,543<br>15<br>1,325<br>-<br>15<br>(79)<br>(17)<br>(1)<br>(3)<br>**1,245**<br>(20)<br>**21**<br>(2,858)<br>4,817<br>7,675<br>**4,838**<br>4,817<br>**4,838**<br>4,817<br>**4,838**<br>4,817<br>**At**<br>**At**<br>**1 September**<br>**Cash**<br>**Non-cash**<br>**31 August**<br>**2024**<br>**flows**<br>**flows**<br>**2025**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>4,817<br>21<br>-<br>**4,838**<br>(18)<br>18<br>-<br>**-**<br>(61)<br>(1,264)<br>-<br>**(1,325)**<br>**4,738**<br>**(1,225)**<br>**-**<br>**3,513**<br>-|**Note**<br>**Year to**<br>**31 August 2025**<br>**Year to**<br>**31 August 2024**<br>**£’000**<br>**£’000**<br>**(442)**<br>(32,377)<br>11<br>(314)<br>(1,007)<br>11<br>(224)<br>(981)<br>11<br>(1,125)<br>3,12<br>-<br>(889)<br>4,5,9<br>-<br>33,579<br>4,9<br>4<br>4<br>10<br>223<br>250<br>7<br>68<br>97<br>3<br>(191)<br>(163)<br>3<br>(211)<br>(219)<br>1<br>3<br>(4)<br>(29)<br>1,108<br>(210)<br>(681)<br>(2,439)<br>**(1,788)**<br>(4,381)<br>11<br>1,288<br>-<br>3,12<br>-<br>610<br>7<br>(6)<br>(100)<br>9<br>(1,369)<br>(364)<br>24<br>33<br>191<br>163<br>436<br>1,201<br>**564**<br>1,543<br>15<br>1,325<br>-<br>15<br>(79)<br>(17)<br>(1)<br>(3)<br>**1,245**<br>(20)<br>**21**<br>(2,858)<br>4,817<br>7,675<br>**4,838**<br>4,817<br>**4,838**<br>4,817<br>**4,838**<br>4,817<br>**At**<br>**At**<br>**1 September**<br>**Cash**<br>**Non-cash**<br>**31 August**<br>**2024**<br>**flows**<br>**flows**<br>**2025**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>4,817<br>21<br>-<br>**4,838**<br>(18)<br>18<br>-<br>**-**<br>(61)<br>(1,264)<br>-<br>**(1,325)**<br>**4,738**<br>**(1,225)**<br>**-**<br>**3,513**<br>-|
|---|---|---|
|||(4,381)<br>1,543<br>(20)|
|||(2,858)<br>7,675|
|||4,817|
|||4,817|
|||4,817|
||||
||**4,738**<br>**(1,225)**||



37 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **1. Accounting policies** 

A summary of the principal accounting policies adopted (which have been applied consistently except where noted), judgements and key sources of estimated uncertainty, is set out below. 

Catch22 Charity Limited is a charitable company (no. 06577534), limited by guarantee, incorporated in England and Wales and registered with the Charity Commission (no 1124127). The registered office is 27 Pear Tree Street, London EC1V 3AG. 

## **Basis of preparation** 

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS 102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the 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 (the FRS 102 Charities SORP) and the Companies Act 2006. 

## **Basis of consolidation** 

The consolidated financial statements incorporate those of Catch22 Charity Limited and all its subsidiaries together with the group’s share of the results of associates. 

On acquisition of subsidiaries, acquisition accounting is used. All of the assets and liabilities that exist at the date of acquisition are recorded at their fair values reflecting their condition at that date. Where subsidiaries are acquired for nil consideration and are akin to a gift, the fair value of the assets and liabilities at the date of acquisition are recognised as voluntary income in the statement of financial activities.  All changes to those assets and liabilities and the resulting surpluses or deficits that arise after the group has gained control of the subsidiary are charged to the post-acquisition statement of financial activities. All intra-group transactions and balances between group companies are eliminated on consolidation. 

The results of associates are accounted for using the equity method of accounting. Where the group has no obligation to fund losses of the associate, the share of accumulated losses is not recognised in the accounts, and the investment is shown as zero. 

## _Going concern_ 

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable group to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular, the trustees have considered the charitable company’s forecast and projections and have considered the potential impact of the wider economic environment on the viability of the charitable group. The trustees continue to take action to rationalise the charitable group, and close services that are not financially viable to save cost and strengthen its financial position. Moving forward the trustees will continue to review the viability of services that are not core to its objectives and are not financially sustainable and will continue to ensure that support services deliver value for money. In addition, they are open to further mergers into the charitable group that will deliver further impact whilst improving financial strength. Annual budgets and forecasts have been revised taking this into account with prudent figures for both income and expenditure. The charity has an investment portfolio held in relatively liquid funds valued at £12.1m as at 31 August 2025 with a current available working capital facility secured against this of up to £5.0m (£nil drawn as at 31 August 2025 and at the date of signing these accounts). In addition, there is a £0.5m unsecured overdraft facility available with Barclays Bank plc (£nil utilised at 31 August 2025 and at the date of signing these accounts). With cash held by the charity of £4.8m at 31 August 2025 this amounts to £10.3m of readily available cash, without liquidating the investment portfolio, should it be required. After making enquiries the trustees have concluded that there is a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements. 

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts are rounded to the nearest thousand pounds. 

## **Income** 

All income is recognised when there is entitlement to the funds, the receipt is probable, and the amount can be measured reliably. The following accounting policies are applied to income. 

## _Grants and fees_ 

Where contract and grant funding are subject to specific performance conditions, the income is recognised as earned (as the related services are provided or outcomes delivered). Any amounts received in excess of what has been earned by the year end are included within deferred income in current liabilities.  Other grant income is recognised where there is entitlement, receipt is probable, and the amount can be measured with sufficient reliability. 

## _Donations_ 

Donations and all other receipts from fundraising are reported gross and are accounted for on a receivable basis. The related fundraising costs are reported in costs of raising funds. 

## _Investment Income_ 

Investment income is accounted for when receivable and includes the related tax recoverable. 

## **Expenditure** 

Liabilities are 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 benefit will be required in settlement and the amount of the obligations can be measured reliably. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. The following accounting policies are applied to expenditure: 

## _Allocation of overhead and support costs_ 

Overhead, support and governance costs are allocated between the cost of raising funds and charitable activities. Overhead, support and governance costs relating to charitable activities have been apportioned between activities. 

## _Governance costs_ 

The charity has taken advantage of the exemption in the Companies Act 2006 not to present its own statement of financial activities. The results of the charity for the year ended 31 August 2025 are set out here: total income of £46,633k (2024: £45,358k) total expenditure of £47,565k (2024: £45,725k), net gain on investments £1,602k (2024: 1,007k), resulting in net increase in funds of £670k (2024: £640k). 

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below: 

Governance costs are included within support costs and consist of trustees’ expenses and annual audit and non-audit fees. 

## _Costs of raising funds_ 

The costs of generating funds consist of investment management fees and the costs of raising funds, including an apportionment of overhead, support and governance costs. 

## _Charitable activities_ 

Costs of charitable activities include grants payable and other costs directly associated with providing the services and support provided by the charity and an apportionment of overhead, support and governance costs. 

38 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **1. Accounting policies (continued)** 

## **Expenditure (continued)** 

## _Trading activities_ 

Costs of trading activities include costs directly associated with providing the services provided through trading and an apportionment of overhead, support and governance costs. 

## **Intangible Assets** 

Development costs for future IT projects are capitalised at cost, provided it is likely to bring future economic benefit to the group. If the criteria for recognition as assets are not met, the expense is recognised in the statement of financial activities in the period in which it is incurred. Capitalised IT costs include all direct and indirect costs that are directly attributable to the development process. The costs are amortised using the straight-line method over 3 to 5 years being their estimated useful lives. 

## **Employee benefits** 

The costs of short-term employee benefits are recognised as a liability and an expense.  The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 

## **Pension costs – Defined Contribution Schemes** 

The Group makes payments to defined contribution pension schemes on behalf of qualifying employees. Such contributions are charged in the Statement of Financial Activities as they fall due. The contributions are invested separately from the charity’s assets. 

## **Leased assets** 

## **Capitalisation of assets** 

Assets with a value of greater than £10,000 (and some lower value vehicles and IT equipment with an estimated useful life of at least 4 or 3 years respectively) are capitalised and depreciated to write off the cost of the assets over their estimated useful lives. 

## **Tangible fixed assets** 

Land and buildings and equipment are stated in the balance sheet at cost or, in the case of certain freehold and long leasehold land and buildings, valuation less depreciation which is provided in equal annual instalments over the estimated useful life of the assets. The rates of depreciation are: 

- Freehold property – 2% per annum 

- Long leasehold property – over term of lease 

- Short leasehold property – over term of lease 

- Furniture and equipment – 20% and 33% per annum 

- Motor vehicles – 25% per annum 

## **Goodwill** 

Goodwill represents the excess of the cost of an acquisition over the fair value of the Group's share of the identifiable net assets of the acquired subsidiary at the date of acquisition. Goodwill has been amortised on a straight-line basis over three or five years. 

## **Investments** 

Investments are stated at market value at the balance sheet date.  Any change in the market value of investments is taken to the relevant fund together with any profits or losses on disposal of investments during the year. 

Investment in associates is held at cost less accumulated impairment losses. 

## **Stock** 

Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis. Net realisable value is based on estimated selling price less additional costs to completion and disposal. 

## **Financial Instruments** 

Rental costs under operating leases are charged to the statement of financial activities in equal amounts over the period of the leases. 

## **In kind funding/support** 

The charitable group benefits from the services of secondees, many thousands of voluntary hours and unclaimed out-of-pocket expenses by a very large number of supporters. In addition, companies, organisations and individuals have, in many cases, provided the use of facilities, equipment and premises for various activities and meetings without charge. The value of such gifts in kind have been estimated and included in the consolidated statement of financial activities as income and expenditure when there is a cost to the third party of donating the gift/service. Although our systems are not set up to summarise the total value of these gifts in kind, we do know they are worth in excess of £100k (2024: £100k). This figure does not include a value for the volunteer work which is indispensable to the work that the Group undertakes. 

## **Taxation** 

The charitable 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, it is potentially exempt from taxation in respect of income or capital gains received within categories covered by part 11, chapter 3 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 for charitable purposes. 

## **Fund Accounting** 

The group maintains various types of funds as follows: 

## _Restricted funds_ 

Restricted funds represent grant, donations and legacies received which are allocated by the donor for specific purposes. 

## _Unrestricted funds_ 

Revaluation reserves relate to the measurement of the fair value of certain freehold property. Designated funds are funds that the trustees have designated to be used for specific purposes.  General unrestricted funds represent funds which are expendable at the discretion of the trustees in the furtherance of the objects of the Charity. 

## _Cash and cash equivalents_ 

Cash and cash equivalents include cash at banks and in hand and short-term deposits with a maturity date of three months or less. 

## _Debtors and creditors_ 

Debtors or creditors receivable or payable within one year of the reporting date are carried at their transaction price. Debtors and creditors that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payment discounted at a market rate of interest. 

39 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **1. Accounting policies (continued)** 

## **Critical accounting estimates and areas of judgement** 

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements: 

- _a) Useful Economic Lives of Intangible Assets_ The annual amortisation charge for intangible assets is sensitive to changes in the estimated lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advances, future investments and economic utilisation. Goodwill and computer software impairment reviews are performed annually. These reviews require an estimation of the value in use of the cash generating units to which goodwill and software has been allocated and the public benefit derived from the services provided to beneficiaries in fulfilment of the company and group’s charitable objectives. 

- _b) Impairment of Investments in Subsidiaries_ Impairment reviews of investment in subsidiaries are carried out annually. These reviews require an estimation of both the expected future cash generation of the charitable subsidiaries to which the investments relate, and consideration of the public benefit derived from the services provided to beneficiaries in fulfilment of the company and group’s charitable objectives. 

- _c) Impairment of Long Leasehold Land & Buildings_ Impairment reviews of long leasehold land and buildings are carried out annually. These reviews require an estimation of their market value of the land and buildings, and the public benefit derived from the charitable group’s services provided to beneficiaries in fulfilment of the company and group’s charitable objectives. The valuations were reviewed during the year and the trustees consider that this is the best estimate of the fair value at the balance sheet date. 

40 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **Comparative Consolidated Statement of Financial Activities for the year ended 31 August 2024** 

|**Note**<br>**Income from**<br>Donations and legacies<br>2<br>Grants<br>2<br>Income from charitable activities<br>5<br>Income from trading activities<br>Income from investments<br>3<br>**Total income**<br>**Expenditure on**<br>**Raising funds**<br>**Charitable activities**<br>Ordinary activities<br>5<br>Exceptional<br>5<br>**Trading activities**<br>**Total expenditure**<br>Net gains/(losses) on investments<br>11<br>Share of results of associated<br>undertaking<br>11<br>**Net (expenditure)/income**<br>**for the period**<br>**Transfers between funds**<br>16,17<br>**Net (expenditure)/income before**<br>**other recognised gains/(losses)**<br>**Other recognised gains/(losses)**<br>Actuarial gain/(loss) on defined<br>benefit pension scheme<br>20<br>**Net movement in funds**<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward|**Restricted**<br>**Fixed**<br>**Assets**<br>**Funds**<br>**(MAT)**<br>**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Year to**<br>**31 August**<br>**2024**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>-<br>1,819<br>975<br>2,794<br>-<br>2,273<br>128<br>2,401<br>-<br>11,999<br>33,328<br>45,327<br>-<br>1<br>192<br>193<br>-<br>-<br>383<br>383|
|---|---|
||-<br>16,092<br>35,006<br>51,098|
||-<br>-<br>376<br>376<br>93<br>15,626<br>35,667<br>51,386<br>33,579<br>-<br>109<br>33,688<br>-<br>-<br>13<br>13|
||33,672<br>15,626<br>36,165<br>85,463<br>-<br>-<br>1,007<br>1,007<br>-<br>-<br>981<br>981|
||(33,672)<br>466<br>829<br>(32,377)<br>-<br>(206)<br>206<br>-|
||(33,672)<br>260<br>1,035<br>(32,377)<br>-<br>-<br>-<br>-|
||(33,672)<br>260<br>1,035<br>(32,377)<br>33,672<br>3,309<br>15,915<br>52,896|
||-<br>3,569<br>16,950<br>20,519|



The Group had no recognised gains or losses other than those dealt with in the Statement of Financial Activities 

41 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **2. Donations, legacies and grants** 

|Employability and skills<br>Education<br>Justice<br>Young people, families &<br>communities<br>Young people, families &<br>communities – acquisition of<br>Redthread Youth Limited (1)<br>Other|**Year to 31 August 2025**<br>**Year to 31 August 2024**<br>**Restricted**<br>**Unrestricted**<br>**Total funds**<br>**Restricted**<br>**Unrestricted**<br>**Total funds**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>1,447<br>88<br>**1,535**<br>995<br>46<br>1,041<br>-<br>127<br>**127**<br>-<br>48<br>48<br>-<br>27<br>**27**<br>-<br>-<br>-<br>1,502<br>337<br>**1,839**<br>2,276<br>199<br>2,475<br>-<br>-<br>**-**<br>281<br>608<br>889<br>369<br>241<br>**610**<br>540<br>202<br>742|
|---|---|
||**3,318**<br>**820**<br>**4,138**<br>4,092<br>1,103<br>5,195|



(1) Redthread Youth Limited was acquired by the group during the year ended 31 August 2024: 

|Fixed assets<br>Current assets<br>Current liabilities<br>**Net assets**<br>Unrestricted funds<br>Restricted funds<br>**Total funds**|**Fair Values**<br>**12 August**<br>**2024**<br>**£’000**<br>12<br>1,004<br>(127)|
|---|---|
||**889**|
||608<br>281|
||**889**|



Included within restricted income in young people, families and communities is income of £442k (2024: £252k) from the Arts Council England in respect of the Culture Within programme. Related expenditure of £442k (2024: £356k) was incurred during the year. The project has been running for several years. 

Included within restricted income in young people, families and communities is income of £30k (2024: £nil) from the Islamic Relief Foundation in respect of the Young Women’s Service Hospital Based Youth Work (London). Related expenditure of £30k (2024: £nil) was incurred during the year. The project began in Redthread in July 2024. 

Included within restricted income in young people, families and communities is income of £57k (2024: £nil) from City Bridge Trust in respect of the Young Women’s Service Hospital Based Youth Work (London). Related expenditure of £57k (2024: £nil) was incurred during the year. The project began in Redthread in April 2024. 

Included within restricted income in young people, families and communities is income of £30k (2024: £nil) from the Rayne Foundation in respect of the Hospital Based Youth Work Counselling (Birmingham). Related expenditure of £15k (2024: £nil) was incurred during the year. The project began in Redthread in April 2024. 

## **3. Investment income** 

|Income from investments receivable<br>Interest receivable<br>All prior year investment income was unrestricted|**Restricted**<br>**funds**<br>**£’000**<br>**Unrestricted**<br>**funds**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2025**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2024**<br>**£’000**<br>-<br>211<br>**211**<br>220<br>58<br>132<br>**190**<br>163|
|---|---|
||**58**<br>**343**<br>**401**<br>383|
|||



42 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

**NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **4. Net expenditure for the year** 

|**4. Net expenditure for the year**|||
|---|---|---|
||**Year to**|**Year to**|
||**31 August**|**31 August**|
||**2025**|**2024**|
||**£’000**|**£’000**|
|This is stated after charging:|||
|Depreciation of tangible fixed assets|**223**|250|
|Loss on disposal of tangible fixed assets|**4**|4|
|Loss on disposal of tangible fixed assets – academy transfers out|**-**|33,579|
|Amortisation of goodwill and intangible fixed assets|**68**|97|
|Property rental|**1,024**|1,138|
|Auditor’s remuneration|||
|Audit fees for Charity’s annual accounts|**49**|48|
|Audit fees for other services:|||
|- the audit of the Charity’s subsidiaries, pursuant to legislation|**19**|29|
|- other fees and taxation advice|**4**|22|



## **5. Charitable activities** 

**Analysis of income from charitable activities for the year ended 31 August 2025** 

|Employability and skills<br>Education<br>Justice<br>Young people, families and<br>communities<br>**Total**|**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Year to**<br>**31 August**<br>**2025**<br>**£’000**<br>**£’000**<br>**£’000**<br>2,087<br>4,952<br>**7,039**<br>8<br>5,934<br>**5,942**<br>842<br>15,802<br>**16,644**<br>5,092<br>7,210<br>**12,302**|
|---|---|
||**8,029**<br>**33,898**<br>**41,927**|



Analysis of income from charitable activities for the year ended 31 August 2024 

|Employability and skills<br>Education<br>Justice<br>Young people, families and<br>communities<br>Other<br>**Total**|**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Year to**<br>**31 August**<br>**2024**<br>**£’000**<br>**£’000**<br>**£’000**<br>2,108<br>4,889<br>6,997<br>5,905<br>5,805<br>11,710<br>91<br>15,318<br>15,409<br>3,895<br>7,313<br>11,208<br>-<br>3<br>3|
|---|---|
||11,999<br>33,328<br>45,327|



**Analysis of expenditure on charitable activities for the year ended 31 August 2025** 

|Employability and skills<br>Education<br>Justice<br>Young people, families and<br>communities<br>Other<br>Exceptional items (see below)<br>Total|**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Year to**<br>**31 August**<br>**2025**<br>**£’000**<br>**£’000**<br>**£’000**<br>3,736<br>5,213<br>**8,949**<br>64<br>6,870<br>**6,934**<br>843<br>14,949<br>**15,792**<br>6,521<br>8,658<br>**15,179**<br>397<br>997<br>**1,394**<br>-<br>93<br>**93**|
|---|---|
||**11,561**<br>**36,780**<br>**48,341**|



43 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **5. Charitable activities (continued)** 

Analysis of expenditure on charitable activities for the year ended 31 August 2024 

|Employability and skills<br>Education<br>Justice<br>Young people, families and<br>communities<br>Other<br>Exceptional items (see below)<br>**Total**|**Restricted**<br>**Fixed Assets**<br>**Funds**<br>**Restricted**<br>**Funds**<br>**Unrestricted**<br>**Funds**<br>**Year to**<br>**31 August**<br>**2024**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>-<br>4,252<br>5,295<br>**9,547**<br>93<br>5,939<br>7,816<br>**13,848**<br>-<br>91<br>13,763<br>**13,854**<br>-<br>4,748<br>7,780<br>**12,528**<br>-<br>596<br>1,013<br>**1,609**<br>33,579<br>-<br>109<br>**33,688**|
|---|---|
||**33,672**<br>**15,626**<br>**35,776**<br>**85,074**|



Included within unrestricted income and expenditure in employability and skills charitable activities is income of £468k (2024: £933k) from the NCS Trust in respect of the Open-to-All programme with related expenditure of £468k (2024: £933k). The project started during the year ended 31 August 2023. 

Included within restricted income and expenditure in Justice charitable activities is income of £90k (2024: £86k) from the West Midlands Police and Crime Commissioner to fund the Wolverhampton Violence Reduction Team with related expenditure of £90k (2024: £86k). The project has been running for several years. 

Included within restricted income and expenditure in young people, families and communities charitable activities is income of £528k (2024: £nil) from the Mayor’s Office for Policing and Crime (MOPAC) in respect of Hospital Based Youth Work (London) with related expenditure of £528k (2024: £nil). The project transferred with Redthread and has been running for several years. 

Included within unrestricted income and expenditure in young people, families and communities charitable activities is income of £27k (2024: £40k) from the NCS Trust in respect of the Targeted Grants programme with related expenditure of £27k (2024: £40k). The project started during the year ended 31 August 2024. 

## **Support Costs** 

The group operates a shared services approach with the majority of support services being provided by Catch22 Charity Limited to the other companies within the group. Support costs incurred directly by other companies within the group, mainly relating to management and administration, are included within the direct costs of the activity carried out by that company. An analysis of the cost of support services (which are included in the charitable expenditure above) provided by Catch22 Charity Limited to the group is set out below. Costs have been allocated to charitable activities as a proportion of the direct expenditure incurred on that activity. 

|**Year Ended**<br>**31 August 2025**<br>**Raising Funds**<br>**Charitable activities:**<br>Employability and skills<br>Education<br>Justice<br>Young people, families<br>and communities<br>Other<br>**Trading activities**|**Business**<br>**development,**<br>**marketing and**<br>**communications**<br>**Facilities**<br>**& IT**<br>**Finance and**<br>**commercial**<br>**Human**<br>**resources**<br>**Management**<br>**and strategy**<br>**Compliance**<br>**and risk**<br>**management**<br>**Total**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**10**<br>**8**<br>**4**<br>**11**<br>**5**<br>**5**<br>**43**<br>270<br>220<br>116<br>277<br>99<br>137<br>**1,119**<br>209<br>171<br>90<br>215<br>77<br>106<br>**868**<br>478<br>390<br>206<br>487<br>173<br>243<br>**1,977**<br>459<br>374<br>197<br>470<br>168<br>232<br>**1,900**<br>42<br>34<br>18<br>44<br>15<br>21<br>**174**|
|---|---|
||**1,458**<br>**1,189**<br>**627**<br>**1,493**<br>**532**<br>**739**<br>**6,038**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**|
||**1,468**<br>**1,197**<br>**631**<br>**1,504**<br>**537**<br>**744**<br>**6,081**|



Governance costs included in the above support costs amount to £68k (2024: £77k) 

44 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **5. Charitable activities (continued)** 

## **Support Costs** 

|Year Ended<br>31 August 2024<br>**Raising Funds**<br>**Charitable activities:**<br>Employability and<br>skills<br>Education<br>Justice<br>Young people, families<br>and communities<br>Other<br>**Trading activities**|**Business**<br>**development,**<br>**marketing and**<br>**communications**<br>**Facilities**<br>**& IT**<br>**Finance**<br>**and**<br>**commercial**<br>**Human**<br>**resources**<br>**Management**<br>**and strategy**<br>**Compliance**<br>**and risk**<br>**management**<br>**Total**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>**£’000**<br>10<br>8<br>5<br>10<br>4<br>5<br>42<br>259<br>207<br>136<br>257<br>111<br>135<br>1,105<br>372<br>298<br>196<br>370<br>160<br>194<br>1,590<br>377<br>300<br>198<br>373<br>161<br>195<br>1,604<br>340<br>271<br>179<br>337<br>145<br>177<br>1,449<br>44<br>35<br>23<br>43<br>19<br>23<br>187|
|---|---|
||1,392<br>1,111<br>732<br>1,380<br>596<br>724<br>5,935<br>10<br>8<br>5<br>10<br>4<br>5<br>42|
||1,402<br>1,119<br>737<br>1,390<br>600<br>729<br>5,977|



## **Exceptional Items** 

Included within Cost of Charitable Activities are the following exceptional items: 

|Transfer out of academies leaving the MAT<br>(see below)<br>Restructuring costs<br>**Total**|**Year to**<br>**31 August**<br>**2025**<br>**Unrestricted**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2025**<br>**Total**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2024**<br>**Fixed Asset**<br>**Restricted**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2024**<br>**Unrestricted**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2024**<br>**Total**<br>**£’000**<br>-<br>**-**<br>33,579<br>-<br>33,579<br>93<br>**93**<br>-<br>109<br>109|
|---|---|
||**93**<br>**93**<br>33,579<br>109<br>33,688|



## **Transfer out of academies leaving the Catch22 Multi Academies Trust Ltd (MAT)** 

During the previous financial year, the Ashwood Academy, Austen Academy, Brunel Academy, Burton Academy, Coppice Springs Academy, Fen Rivers Academy and Spires Academy transferred out of the MAT. The below assets and liabilities transferred with the various schools. 

|**Tangible fixed assets**<br>Leasehold land and buildings<br>**Net assets / (liabilities)**|**2025**<br>**Transfer out**<br>**of academies**<br>**leaving the**<br>**MAT**<br>**£000**<br>**2024**<br>**Transfer out**<br>**of academies**<br>**leaving the**<br>**MAT**<br>**£000**<br>-<br>33,579|
|---|---|
||**-**<br>33,579|



45 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **6. Staff costs** 

|**6. Staff costs**||
|---|---|
|Salaries<br>Redundancies<br>National Insurance contributions<br>Pension contributions<br>The average number of employees during the period split as follows:<br>Charitable Activities<br>Support<br>Total|**Year to**<br>**31 August**<br>**2025**<br>**£’000**<br>**Year to**<br>**31 August**<br>**2024**<br>**£’000**<br>30,169<br>30,268<br>245<br>106<br>3,487<br>3,151<br>1,071<br>1,496|
||**34,972**<br>35,021|
||848<br>895<br>95<br>101|
||**943**<br>996|



During the period payments to agencies for temporary staff amounted to £660k (2024: £1,721k) Agency staff are used to cover temporary vacancies and to meet short-term needs. 

The number of employees whose annual emoluments were £60,000 and above excluding pension contributions were as follows: 

||**Year to**|**Year to**|
|---|---|---|
||**31 August**|**31 August**|
||**2025**|**2024**|
||**£’000**|**£’000**|
|£60,001 - £70,000|18|15|
|£70,001 - £80,000|4|3|
|£80,001 - £90,000|5|5|
|£90,001 - £100,000|1|1|
|£100,001-£110,000|-|4|
|£110,001-£120,000|2|-|
|£120,001-£130,000|1|1|
|£130,001-£140,000|1|-|



Employer’s pension contributions of £200,053 (2024: £163,824) were paid on behalf of the above staff. 

No trustees received any remuneration during the period (2024: none). Two trustees were reimbursed expenses during the year of £68 (2024: £56) for travel and subsistence. 

## _Key Management Personnel_ 

The total employee benefits of the Key Management Personnel were £707,490 (2024: £821,307). 

## _Volunteers_ 

The average number of volunteers for the year to 31 August 2025 totalled 17 (2024: 24). 7 volunteers worked in Justice and 10 worked in young people, families and communities. 

46 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **7. Intangible fixed assets – Consolidated** 

|**Cost**<br>1 September 2024<br>Additions<br>**31 August 2025**<br>**Amortisation**<br>1 September 2024<br>Charge for the year<br>**31 August 2025**<br>**Net book value**<br>**At 31 August 2025**<br>At 31 August 2024|**Computer**<br>**Software**<br>**£’000**<br>**Goodwill**<br>**£’000**<br>**Total**<br>**£’000**<br>583<br>345<br>928<br>6<br>-<br>6|
|---|---|
||**589**<br>**345**<br>**934**|
||378<br>345<br>723<br>68<br>-<br>68|
||**446**<br>**345**<br>**791**|
||**143**<br>**-**<br>**143**|
||205<br>-<br>205|



## **8. Intangible fixed assets – Charity only** 

|**Costs**<br>1 September 2024<br>Additions<br>**31 August 2025**<br>**Amortisation**<br>1 September 2024<br>Charge for the year<br>**31 August 2025**<br>**Net book value**<br>**At 31 August 2025**<br>At 31 August 2024|**Computer**<br>**Software**<br>**£’000**<br>**Total**<br>**£’000**<br>583<br>583<br>6<br>6|
|---|---|
||**589**<br>**589**|
||378<br>378<br>68<br>68|
||**446**<br>**446**|
||**143**<br>**143**|
||205<br>205|



47 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **9. Tangible fixed assets – Consolidated** 

|**9. Tangible fixed assets – Consolidated**||
|---|---|
|**Cost or Revaluation**<br>1 September 2024<br>Additions<br>Disposals<br>**31 August 2025**<br>**Depreciation**<br>1 September 2024<br>Disposals<br>Charge for the year<br>**31 August 2025**<br>**Net book value**<br>**At 31 August 2025**<br>At 31 August 2024|**Long**<br>**leasehold**<br>**land and**<br>**buildings**<br>**£’000**<br>**Short**<br>**leasehold**<br>**properties**<br>**£’000**<br>**Freehold**<br>**land &**<br>**buildings**<br>**£’000**<br>**Furniture &**<br>**equipment**<br>**£’000**<br>**Total**<br>**£’000**<br>4,647<br>491<br>725<br>517<br>6,380<br>-<br>80<br>1,289<br>-<br>1,369<br>-<br>-<br>-<br>(58)<br>(58)|
||**4,647**<br>**571**<br>**2,014**<br>**459**<br>**7,691**|
||184<br>57<br>139<br>289<br>669<br>-<br>-<br>-<br>(54)<br>(54)<br>53<br>91<br>13<br>66<br>223|
||**237**<br>**148**<br>**152**<br>**301**<br>**838**|
||**4,410**<br>**423**<br>**1,862**<br>**158**<br>**6,853**|
||4,463<br>434<br>586<br>228<br>5,711|



## **10. Tangible fixed assets – Charity only** 

|**Cost or Revaluation**<br>1 September 2024<br>Additions<br>Transfers on full merger<br>Disposals<br>**31 August 2025**<br>**Depreciation**<br>1 September 2024<br>Transfers on full merger<br>Disposals<br>Charge for the year<br>**31 August 2025**<br>**Net book value**<br>**At 31 August 2025**<br>At 31 August 2024|**Long**<br>**leasehold**<br>**land and**<br>**buildings**<br>**£’000**<br>**Short**<br>**leasehold**<br>**properties**<br>**£’000**<br>**Freehold**<br>**land &**<br>**buildings**<br>**£’000**<br>**Furniture &**<br>**equipment**<br>**£’000**<br>**Total**<br>**£’000**<br>4,647<br>491<br>725<br>459<br>6,322<br>-<br>80<br>1,289<br>-<br>1,369<br>-<br>-<br>-<br>26<br>26<br>-<br>-<br>-<br>(26)<br>(26)|
|---|---|
||**4,647**<br>**571**<br>**2,014**<br>**459**<br>**7,691**|
||184<br>57<br>139<br>243<br>623<br>-<br>-<br>-<br>16<br>16<br>-<br>-<br>-<br>(22)<br>(22)<br>53<br>91<br>13<br>64<br>221|
||**237**<br>**148**<br>**152**<br>**301**<br>**838**|
||**4,410**<br>**423**<br>**1,862**<br>**158**<br>**6,853**|
||4,463<br>434<br>586<br>216<br>5,699|



The leasehold property at 27 Pear Tree Street, London of £3.3m has been arrived at on a basis of valuation carried out as at 31 August 2019 by JM Commercial, Chartered Surveyors who are not connected with the company. The valuation was reviewed internally in the year and the Trustees consider that this is the best estimate of the fair value at the balance sheet date. 

48 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **11. Investment in subsidiaries and associates - Consolidated** 

|**Cost**<br>1 September 2024<br>Share of net profit<br>Disposals<br>**31 August 2025**<br>**Impairment**<br>1 September 2024<br>Charge for the year<br>Disposals<br>**31 August 2025**<br>**Net book value**<br>**At 31 August 2025**<br>At 31 August 2024|**Investment**<br>**in**<br>**Associates**<br>**£’000**<br>**Investment**<br>**in**<br>**Subsidiary**<br>**£’000**<br>**Total**<br>**£’000**<br>**278**<br>**475**<br>**753**<br>(10)<br>-<br>(10)<br>(163)<br>-<br>(163)|
|---|---|
||**105**<br>**-**<br>**105**|
||-<br>**475**<br>**475**<br>-<br>-<br>-<br>-<br>-<br>-|
||**-**<br>**475**<br>**475**|
||**105**<br>**-**<br>**105**|
||278<br>-<br>278|



## **11. Investment in subsidiaries and associates – Charity only** 

|**Cost**<br>31 August 2024<br>**31 August 2025**<br>**Impairment**<br>1 September 2024<br>Charge for the year<br>**31 August 2025**<br>**Net book value**<br>**At 31 August 2025**<br>At 31 August 2024|**Investment**<br>**in**<br>**Associates**<br>**£’000**<br>**Investment**<br>**in**<br>**Subsidiary**<br>**£’000**<br>**Total**<br>**£’000**<br>-<br>475<br>**475**|
|---|---|
||**-**<br>**475**<br>**475**|
||-<br>475<br>**475**<br>-<br>-<br>**-**|
||-<br>**475**<br>**475**|
||**-**<br>**-**<br>**-**|
||-<br>-<br>-|



The shares in the associate were sold during the financial year. 

49 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **11. Investments – Consolidated** 

|**11. Investments – Consolidated**|**11. Investments – Consolidated**||||
|---|---|---|---|---|
|Investment in associate – AKG (UK) Employment Limited (formerly Jobs22)<br>Investment in associated LLP<br>Other investments at market value<br>Investments at market value<br>Quoted investments<br>Cash held by investment managers<br>Unlisted investments<br>1 September 2024<br>Acquisitions at cost<br>Disposal proceeds<br>Increase/(decrease) in cash in the portfolio<br>Share of associate profit<br>Disposal of associate<br>Change in market value<br>**Market value at 31 August 2025**<br>Historic cost at 31 August 2025<br>**31 August 2025**<br>**Market value**<br>**Original cost**<br>**£’000**<br>**_%_**<br>**£’000**<br>Equity<br>8,604<br>_70_<br>7,651<br>Fixed income<br>2,976<br>_25_<br>2,463<br>Cash<br>245<br>_2_<br>242<br>Alternatives<br>279<br>_2_<br>242<br>Other – listed<br>4<br>_-_<br>4<br>Other – unlisted<br>110<br>_1_<br>110<br>**Total**<br>**12,218**<br>**_100_**<br>**10,712**<br>**Associates**<br>**Carrying value**<br>1 September 2024<br>Share of net profit<br>Dividend received<br>Disposals<br>**31 August 2025**||**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>-<br>**173**<br>105<br>**105**<br>12,113<br>**11,814**<br>**12,218**<br>**12,092**<br>11,863<br>11,717<br>245<br>92<br>110<br>283<br>**12,218**<br>**12,092**<br>12,092<br>11,119<br>4,017<br>9,890<br>(4,060)<br>(9,860)<br>28<br>(91)<br>(10)<br>27<br>(163)<br>-<br>314<br>1,007<br>**12,218**<br>**12,092**<br>10,712<br>11,110<br>**31 August 2024**<br>**Market value**<br>**Original cost**<br>**£’000**<br>**_%_**<br>**£’000**<br>8,708<br>_72_<br>7,911<br>2,754<br>_23_<br>2,751<br>92<br>_1_<br>92<br>251<br>_2_<br>242<br>4<br>_-_<br>4<br>283<br>_2_<br>110<br>12,092<br>_100_<br>11,110<br>**Associated**<br>**LLP**<br>**£000**<br>**AKG (UK)**<br>**Employment**<br>**£’000**<br>**Total**<br>**£’000**<br>**105**<br>**173**<br>**278**<br>-<br>224<br>**224**<br>-<br>(234)<br>**(234)**<br>-<br>(163)<br>**(163)**|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>-<br>**173**<br>105<br>**105**<br>12,113<br>**11,814**||
||||**12,218**<br>**12,092**||
||||11,863<br>11,717<br>245<br>92<br>110<br>283||
||||**12,218**<br>**12,092**||
||||12,092<br>11,119<br>4,017<br>9,890<br>(4,060)<br>(9,860)<br>28<br>(91)<br>(10)<br>27<br>(163)<br>-<br>314<br>1,007||
||||**12,218**<br>**12,092**||
||||10,712<br>11,110||
|||||**2024**<br>**Original cost**<br>**£’000**<br>7,911<br>2,751<br>92<br>242<br>4<br>110|
||**10,712**|||11,110|
||||||
|||**105**<br>**-**<br>**105**|||



The charity owned 18% of the equity share capital of AKG (UK) Employment Limited (formerly Jobs 22 Limited) (2024:18%) (20% of the voting rights (2024: 20%)). All the shares were sold during the year for £1.29m resulting in a gain on disposal of £1.125m. The address of the registered office of AKG (UK) Employment Limited  is 289 Silbury Boulevard, Milton Keynes, MK9 1NA. 

50 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **11. Investments – Charity only** 

|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>Investment in associate – AKG (UK) Employment Limited (formerly Jobs22)<br>-<br>-<br>Other investments at market value<br>12,113<br>11,814<br>**12,113**<br>**11,814**<br>Quoted investments<br>11,863<br>11,717<br>Unquoted investments<br>5<br>5<br>Cash held by investment managers<br>245<br>92<br>**12,113**<br>**11,814**<br>1 September 2024<br>11,814<br>10.868<br>Acquisitions at cost<br>4,017<br>9,890<br>Disposal proceeds<br>(4,060)<br>(9,860)<br>Increase/(decrease) in cash in the portfolio<br>28<br>(91)<br>Change in market value<br>314<br>1,007<br>**Market value at 31 August 2025**<br>**12,113**<br>**11,814**<br>Historic cost at 31 August 2025<br>10,607<br>11,005<br>**31 August 2025**<br>**31 August 2024**<br>**Market value**<br>**Original cost**<br>**Market value**<br>**Original cost**<br>**£’000**<br>**_%_**<br>**£’000**<br>**£’000**<br>**_%_**<br>**£’000**<br>Equity<br>8,604<br>_71_<br>7,651<br>8,708<br>_74_<br>7,911<br>Fixed income<br>2,976<br>_25_<br>2,463<br>2,754<br>_23_<br>2,751<br>Cash<br>245<br>_2_<br>242<br>92<br>_1_<br>92<br>Alternatives<br>279<br>_2_<br>242<br>251<br>_2_<br>242<br>Other – listed<br>4<br>_-_<br>4<br>4<br>_-_<br>4<br>Other – unlisted<br>5<br>_-_<br>5<br>5<br>_-_<br>5<br>**Total**<br>**12,113**<br>_100_<br>**10,607**<br>**11,814**<br>**_100_**<br>**11,005**|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>-<br>-<br>12,113<br>11,814|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>-<br>-<br>12,113<br>11,814|
|---|---|---|
||**12,113**<br>**11,814**||
||11,863<br>11,717<br>5<br>5<br>245<br>92||
||**12,113**<br>**11,814**||
||11,814<br>10.868<br>4,017<br>9,890<br>(4,060)<br>(9,860)<br>28<br>(91)<br>314<br>1,007||
||**12,113**<br>**11,814**||
||10,607<br>11,005||
|||**2024**<br>**Original cost**<br>**£’000**<br>7,911<br>2,751<br>92<br>242<br>4<br>5|
|Equity|||
|Fixed income<br>Cash<br>Alternatives<br>Other – listed<br>Other – unlisted<br>**Total**|||
|||**11,005**|



## **12. Subsidiaries** 

The charity is the parent of the following subsidiaries: 

||||||**Aggregate**||||
|---|---|---|---|---|---|---|---|---|
||||||**amount of**|**Turnover**||**Surplus/**|
||||||**assets,**|**incl.**||**(deficit)**|
||**Country of**|**Registered**||**Level of**|**liabilities**|**invest**||**for the**|
|**Name of subsidiary**|**incorporation**|**Office**|**Activity**|**control**|**and funds**|**income**|**Costs**|**year**|
||||||**£’000**|**£’000**|**£’000**|**£’000**|
|The Royal Philanthropic|England and|N/A|Dormant|100%|-|-|-|-|
|Society incorporating|Wales||||||||
|the Rainer Foundation|||||||||
|_Charity Number_|||||||||
|_229132_|||||||||
|Crime Concern Trust|England and|(1)|Dormant|100%|-|-|-|-|
|Limited|Wales||||||||
|_Company Number:_|||||||||
|_02259016_|||||||||
|_Charity Number_|||||||||
|_800735_|||||||||



51 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **12. Subsidiaries (continued)** 

||||||**Aggregate**||||
|---|---|---|---|---|---|---|---|---|
||||||**amount of**|**Turnover**||**Surplus/**|
||||||**assets,**|**incl.**||**(deficit)**|
||**Country of**|**Registered**||**Level of**|**liabilities**|**invest**||**for the**|
|**Name of subsidiary**|**incorporation**|**Office**|**Activity**|**control**|**and funds**|**income**|**Costs**|**year**|
||||||**£’000**|**£’000**|**£’000**|**£’000**|
|Catch22 Social|England and|(1)|Dormant|100%|(646)|-|-|-|
|Enterprise Limited|Wales||||||||
|_Company Number:_|||||||||
|_06166785_|||||||||
|Catch22 Social|England and|(1)|Providing training and|100%|(5)|-|-|-|
|Enterprise Solutions|Wales||employment opportunities||||||
|Limited|||for the unemployed||||||
|_Company Number:_|||||||||
|_07971380_|||||||||
|Pupil Parent Partnership|England and|(2)|Dormant|100%|-|-|-|-|
|Limited|Wales||(strike-off application in||||||
|Company Number:|||progress)||||||
|04872659|||||||||
|Include|England and|(2)|Dormant|100%|-|-|-|-|
|Company Number:|Wales||||||||
|02429781|||||||||
|Charity Number|||||||||
|0803333|||||||||
|Catch22 Multi|England and|(2)|Advancing for the public|100%|250|8|(64)|(56)|
|Academies Trust|Wales||benefit, education in the||||||
|Limited|||UK through the operation||||||
|Company Number:|||of alternative provision||||||
|08299181|||schools||||||
||||In voluntary liquidation||||||
|Community Links Trust<br>Limited|England and<br>Wales|(3)|Community delivery and<br>early support and action|100%|5|213|(207)|6|
|_Company Number:_|||||||||
|_02661182_|||||||||
|_Charity Number_|||||||||
|_1018517_|||||||||
|Community Links|England and|(3)|Dormant|100%|(464)|-|-|-|
|Trading Limited|Wales||||||||
|_Company Number:_|||||||||
|_05737749_|||||||||
|Ripplez Community|England and|(2)|Dormant|100%|(85)|-|-|-|
|Interest Company|Wales||||||||
|_Company Number:_|||||||||
|_07484690_|||||||||
|Redthread Youth|England and|(2)|Preservation and|100%|-|1,394|(2,284)|(890)|
|Limited (A)|Wales||protection of the health||||||
|_Company Number:_|||and wellbeing of young||||||
|_03131121_|||people & the||||||
|_Charity Number_|||advancement of education||||||
|_1051280_|||of young people||||||



The list of Registered Offices is set out below: 

(1) Rectory Lodge, High Street, Brasted, Kent, TN16 IJF 

(2) 27 Pear Tree Street, London, EC1V 3AG (3) 105 Barking Road, London, E16 4HQ 

52 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **12. Subsidiaries (continued)** 

## **(A) Redthread Youth Limited** 

During the previous financial year Catch 22 Charity Limited became the sole member of Redthread Youth Limited (a company limited by guarantee, company number 03131121, and registered charity, charity number 1051280) and accordingly on that date Redthread Youth Limited became a subsidiary of the group. All of the activities of Redthread Youth Limited were transferred to Catch22 with effect from 1 April 2025. 

## **13. Debtors: amounts due within one year** 

|**13. Debtors: amounts due within one year**||
|---|---|
|<br>**Consolidated**<br>Grant and trade debtors<br>Other debtors<br>Prepayments and accrued income<br>**Charity only**<br>Grant and trade debtors<br>Other debtors<br>Prepayments and accrued income<br>Amounts owed by other group companies|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>2,982<br>4,255<br>104<br>353<br>2,451<br>2,037|
||**5,537**<br>6,645|
||2,982<br>4,149<br>104<br>332<br>2,451<br>1,702<br>109<br>124|
||**5,646**<br>**6,307**|



53 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **14. Creditors: amounts falling due within one year** 

|**Consolidated**<br>Trade creditors<br>Accrued expenditure and income in advance<br>Other taxes and social security<br>Other creditors|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>893<br>672<br>5,466<br>6,091<br>1,443<br>1,283<br>471<br>719|
|---|---|
||**8,273**<br>**8,765**|



Included in other creditors are outstanding pension contributions amounting to £141k (2024: £139k). 

Also included within other creditors is a loan from an associated company of £nil (2024: £234k). It was repayable on demand and no interest is charged. 

The charitable group has an overdraft facility of £5m secured by a fixed charge over the investments of the charity. It is provided by HSBC Private Bank and is repayable on demand and interest is charged at 0.75% above the base rate, amount drawn £nil (2024: £nil). In addition, the charitable group has a £500k unsecured overdraft available from Barclays Bank with interest charged at 3% above the base rate, amount drawn £nil (2024: £nil). 

|**Charity only**<br>Trade creditors<br>Accrued expenditure and income in advance<br>Other taxes and social security<br>Amounts owed to other group companies<br>Other creditors|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>892<br>611<br>5,465<br>5,935<br>1,443<br>1,279<br>5<br>-<br>471<br>710|
|---|---|
||**8,276**<br>**8,535**|



Included in other creditors are outstanding pension contributions amounting to £141k (2024: £128k). 

Also included within other creditors is a loan from an associated company of £nil (2024: £234k). It was repayable on demand and no interest is charged. 

The charity has an overdraft facility of £5m secured by a fixed charge over the investments of the charity. It is provided by HSBC Private Bank and is repayable on demand and interest is charged at 0.75% above the base rate, amount drawn £nil (2024: £nil). In addition, the charity has a £500k unsecured overdraft available from Barclays Bank with interest charged at 3% above the base rate, amount drawn £nil (2024: £nil). 

|**Consolidated**–deferred income movement<br>Balance at 1 September 2024<br>Amount released in the period<br>Amount deferred in the period<br>**Balance at 31 August 2025 – all due within one year**<br>**Charity only**–deferred income movement<br>Balance at 1 September 2024<br>Amount released in the period<br>Amount deferred in the period<br>**Balance at 31 August 2025 – all due within one year**|**£’000**<br>5,025<br>(5,025)<br>4,671|
|---|---|
||**4,671**|
||**£’000**<br>4,937<br>(4,937)<br>4,671|
||**4,671**|



54 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **15. Creditors: amounts falling after more than one year** 

|**Consolidated**<br>Other loans<br>Other creditors<br>**Charity only**<br>Other loans<br>Other creditors|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>1,325<br>61<br>-<br>207|
|---|---|
||**1,325**<br>268|
||1,325<br>61<br>-<br>207|
||**1,325**<br>268|



Included within other loans are two loans of £662.5k received in August 2025 to fund the purchase of a freehold property to be used in the delivery of the charity’s objectives. Both loans are repayable within 120 months and have identical terms. The first capital repayments are not due until July 2027 and therefore the full amount of £1,325k (2024: £nil) is shown as falling due after more than one year. Interest is variable between 2%-4% and the loans are secured by a fixed charge against the charity’s freehold property in Banstead, Surrey 

In the previous year included within other loans was a loan of £125k received in October 2021 and repayable over 84 months. The amount outstanding at 31 August 2024 was £79k – shown as £61k due in more than one year and £18k due in less than one year. The loan was secured by a floating charge over the charity’s assets. Interest was charged at 3%. The loan was fully repaid during this financial year. 

|Other Loans (Consolidated & Charity only):<br>Amount payable:<br>Under 1 year<br>Between 1-5 years<br>After 5 years|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>-<br>18<br>177<br>61<br>1,148<br>-|
|---|---|
||**1,325**<br>79|



## **16. Restricted funds** 

|**Consolidated**<br>Balance at 1 September 2024<br>Income<br>Expenditure<br>Transfers between funds<br>**Balance at 31 August 2025**<br>**Charity only**<br>Balance at 1 September 2024<br>Income<br>Expenditure<br>**Balance at 31 August 2025**|**Restricted**<br>**funds**<br>**£’000**<br>**Total**<br>**Restricted**<br>**funds**<br>**£’000**<br>3,569<br>**3,569**<br>11,405<br>**11,405**<br>(11,561)<br>**(11,561)**<br>(142)<br>**(142)**|
|---|---|
||**3,271**<br>**3,271**|
||3.112<br>**3,112**<br>10,304<br>**10,304**<br>(10,268)<br>**(10,268)**|
||**3,148**<br>**3,148**|



The specific purposes for which the funds are to be applied are as follows: 

55 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **16. Restricted funds (continued)** 

## **Restricted funds** 

These arise from donations, grants and fees to fund activities or services as specified by the donor. Income represents donations, grants and fees from government bodies and corporate and trust donors. Expenditure represents expenditure on specific services linked to these restricted donations, grants and fees. Restricted funds also include some of the activities of Redthread Youth Limited and some of the activities of Community Links Trust Limited, both are subsidiary companies. 

An analysis of restricted funds by activity is set out below. 

## **Transfers between funds** 

**Restricted funds** : £nil (2024: £(206k) represents net charges for services between the Charity and Catch22 Multi Academies Trust, transferred to general funds. £(142k) (2024: £nil) represents charges for services between the Charity and Redthread Youth prior to full merger, transferred to general funds. 

## **Prior year** 

|**Consolidated**<br>Balance at 1 September 2023<br>Income<br>Expenditure<br>Transfers between funds<br>Balance at 31 August 2024<br>**Charity only**<br>Balance at 1 September 2023<br>Income<br>Expenditure<br>Balance at 31 August 2024|**Restricted**<br>**fixed asset**<br>**funds**<br>**£’000**<br>**Restricted**<br>**funds**<br>**£’000**<br>**Total**<br>**Restricted**<br>**funds**<br>**£’000**<br>33,672<br>3,309<br>36,981<br>-<br>16,092<br>16,092<br>(33,672)<br>(15,626)<br>(49,298)<br>(206)<br>(206)|
|---|---|
||-<br>3,569<br>3,569|
||-<br>2,893<br>2,893<br>-<br>9,819<br>9,819<br>-<br>(9,600)<br>(9,600)|
||-<br>3,112<br>3,112|



## **Current year** 

|**Consolidated by charitable activity**<br>Employability and skills<br>Education<br>Justice<br>Young people, families and communities<br>Other<br>**Total restricted funds**<br>**Charity only by charitable activity**<br>Employability and skills<br>Justice<br>Young people, families and communities<br>Other<br>**Total restricted funds**|**Balance**<br>**1 September**<br>**2024**<br>**£’000**<br>**Income**<br>**£’000**<br>**Expenditure**<br>**£’000**<br>**Transfers**<br>**between**<br>**funds**<br>**£’000**<br>**Balance**<br>**31 August**<br>**2025**<br>**£’000**<br>582<br>3,663<br>(3,736)<br>-<br>**509**<br>176<br>8<br>(64)<br>-<br>**120**<br>-<br>842<br>(842)<br>-<br>**-**<br>2,760<br>6,523<br>(6,521)<br>(142)<br>**2,620**<br>51<br>369<br>(398)<br>-<br>**22**|
|---|---|
||**3,569**<br>**11,405**<br>**(11,561)**<br>**(142)**<br>**3,271**|
||**Balance**<br>**1 September**<br>**2024**<br>**£’000**<br>**Income**<br>**£’000**<br>**Expenditure**<br>**£’000**<br>**Transfers**<br>**between**<br>**funds**<br>**£’000**<br>**Balance**<br>**31 August**<br>**2025**<br>**£’000**<br>582<br>3,663<br>(3,736)<br>-<br>**509**<br>-<br>842<br>(842)<br>-<br>**-**<br>2,479<br>5,430<br>(5,292)<br>-<br>**2,617**<br>51<br>369<br>(398)<br>-<br>**22**|
||**3,112**<br>**10,304**<br>**(10,268)**<br>**-**<br>**3,148**|



56 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **16. Restricted funds (continued)** 

## **Prior year** 

|**Prior year**||
|---|---|
|**Consolidated by charitable activity**<br>Employability and skills<br>Education<br>Justice<br>Young people, families and communities<br>Other<br>**Total restricted funds**<br>**Prior year**<br>**Charity only by charitable activity**<br>Employability and skills<br>Justice<br>Young people, families and communities<br>Other<br>**Total restricted funds**|**Balance**<br>**1 September**<br>**2023**<br>**£’000**<br>**Income**<br>**£’000**<br>**Expenditure**<br>**£’000**<br>**Transfers**<br>**between**<br>**funds**<br>**£’000**<br>**Balance**<br>**31 August**<br>**2024**<br>**£’000**<br>1,730<br>3,103<br>(4,251)<br>-<br>582<br>416<br>5,905<br>(5,939)<br>(206)<br>176<br>-<br>92<br>(92)<br>-<br>-<br>1,056<br>6,452<br>(4,748)<br>-<br>2,760<br>107<br>540<br>(596)<br>-<br>51|
||3,309<br>16,092<br>(15,626)<br>(206)<br>3,569|
||**Balance**<br>**1 September**<br>**2023**<br>**£’000**<br>**Income**<br>**£’000**<br>**Expenditure**<br>**£’000**<br>**Transfers**<br>**between**<br>**funds**<br>**£’000**<br>**Balance**<br>**31 August**<br>**2024**<br>**£’000**<br>1,730<br>3,103<br>(4,251)<br>-<br>582<br>-<br>92<br>(92)<br>-<br>-<br>1,056<br>6,084<br>(4,661)<br>-<br>2,479<br>107<br>540<br>(596)<br>-<br>51|
||2,893<br>9,819<br>(9,600)<br>-<br>3,112|



## **Prior year** 

## **17. Unrestricted funds** 

|**17. Unrestricted funds**||
|---|---|
|**Consolidated**<br>Revaluation reserve<br>Designated fund<br>General fund<br>**Total**<br>**Charity**<br>Revaluation reserve<br>Designated fund<br>General fund<br>**Total**|**Balance**<br>**1 September**<br>**2024**<br>**£’000**<br>**Income**<br>**£’000**<br>**Expenditure**<br>**£’000**<br>**Transfers**<br>**between**<br>**funds**<br>**£’000**<br>**Net**<br>**gains/(losses)**<br>**on investments**<br>**and share of**<br>**associate net**<br>**profit**<br>**£’000**<br>**Balance**<br>**31 August**<br>**2025**<br>**£’000**<br>2,347<br>-<br>(46)<br>-<br>-<br>**2,301**<br>1,093<br>-<br>(832)<br>515<br>-<br>**776**<br>13,510<br>35,174<br>(36,245)<br>(373)<br>1,663<br>**13,729**|
||**16,950**<br>**35,174**<br>**(37,123)**<br>**142**<br>**1,663**<br>**16,806**|
||2,347<br>-<br>(46)<br>-<br>-<br>**2,301**<br>1,093<br>-<br>(832)<br>515<br>-<br>**776**<br>12,604<br>36.329<br>(36,419)<br>(515)<br>1,602<br>**13,601**|
||**16,044**<br>**36,329**<br>**(37,297)**<br>**-**<br>**1,602**<br>**16,678**|



## **Revaluation reserve** 

This represents the difference between the net book value and valuation of revalued property. 

## **Designated fund** 

This represents funds that the trustees have allocated to specific projects. These projects are: 

- Use of data and analytics to improve impact and deliver reform objectives; £43k (2024: £177k) over the next year 

- Reducing the organisation’s environmental impact; £30k (2024:£84k) over the next year 

- Growing the organisation to reach more beneficiaries and deliver greater impact; £185k (2024: £195k) over the next year 

- Developing and capturing the social value delivered by the organisation; £29k (2024: £69k) over the next year 

- Ensuring the organisation’s support services and structures are fit for purpose; £nil (2024: £32k) over the next 1 year 

- Refurbishment of delivery premises and providing additional facilities in education sites £138k (2024: £386k) over the next 2 years 

- Innovation in delivery to increase impact and deliver reform objectives £351k (2024: £150k) over the next 2 years 

## **General fund** 

This represents funds which are not restricted or designated for specific purposes. General funds are expendable at the discretion of the trustees to further the charitable objects of the Catch22 group. 

57 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **17. Unrestricted funds (continued)** 

|**Prior year**<br>**Consolidated**<br>_Revaluation reserve_<br>_Designated fund_<br>_General fund_<br>**_Total_**<br>**Charity**<br>_Revaluation reserve_<br>_Designated fund_<br>_General fund_<br>**_Total_**|**Balance**<br>**1 September**<br>**2023**<br>**£’000**<br>**Income**<br>**£’000**<br>**Expenditure**<br>**£’000**<br>**Transfers**<br>**between**<br>**funds**<br>**£’000**<br>**Net**<br>**gains/(losses)**<br>**on investments**<br>**and share of**<br>**associate net**<br>**profit**<br>**£’000**<br>**Balance**<br>**31 August**<br>**2024**<br>**£’000**<br>2,393<br>-<br>(46)<br>-<br>-<br>2,347<br>1,307<br>-<br>(864)<br>650<br>-<br>1,093<br>12,215<br>35.006<br>(35,255)<br>(444)<br>1,988<br>13,510|
|---|---|
||15,915<br>35,006<br>(36,165)<br>206<br>1,988<br>16,950|
||2,393<br>-<br>(46)<br>-<br>-<br>2,347<br>1,307<br>-<br>(864)<br>650<br>-<br>1,093<br>11,923<br>35,539<br>(35,215)<br>(650)<br>1,007<br>12,604|
||15,623<br>35,539<br>(36,125)<br>-<br>1,007<br>16,044|



## **18. Analysis of net assets between funds** 

|**Consolidated**<br>**Fund balances at 31 August 2025 are represented by:**<br>Tangible fixed assets<br>Intangible fixed assets<br>Investments<br>Current assets/(liabilities)<br>Long term liabilities<br>**Total net assets**<br>**Charity Only**<br>**Fund balances at 31 August 2025 are represented by:**<br>Tangible fixed assets<br>Intangible fixed assets<br>Investments<br>Current assets/(liabilities)<br>Long term liabilities<br>**Total net assets**|**Restricted**<br>**funds**<br>**£’000**<br>**Unrestricted**<br>**funds**<br>**£’000**<br>**31 August**<br>**2025**<br>**Total**<br>**£’000**<br>1,289<br>5,564<br>**6,853**<br>-<br>143<br>**143**<br>-<br>12,218<br>**12,218**<br>3,307<br>(1,119)<br>**2,188**<br>(1,325)<br>-<br>**(1,325)**|
|---|---|
||**3,271**<br>**16,806**<br>**20,077**|
||1,289<br>5,564<br>**6,853**<br>-<br>143<br>**143**<br>-<br>12,113<br>**12,113**<br>3,184<br>(1,142)<br>**2,042**<br>(1,325)<br>-<br>**(1,325)**|
||**3,148**<br>**16,678**<br>**19,826**|



58 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **18. Analysis of net assets between funds (continued)** 

|**Consolidation**<br>Fund balances at 31 August 2024 are represented by:<br>Tangible fixed assets<br>Intangible fixed assets<br>Investments<br>Current assets/(liabilities)<br>Long term liabilities<br>**Total net assets**<br>**Charity Only**<br>Fund balances at 31 August 2024 are represented by:<br>Tangible fixed assets<br>Intangible fixed assets<br>Investments<br>Current assets/(liabilities)<br>Long term liabilities<br>**Total net assets**|**Restricted**<br>**funds**<br>**£’000**<br>**Unrestricted**<br>**funds**<br>**£’000**<br>**31 August**<br>**2024**<br>**Total**<br>**£’000**<br>-<br>5,711<br>5,711<br>-<br>205<br>205<br>-<br>12,092<br>12,092<br>3,569<br>(790)<br>2,779<br>-<br>(268)<br>(268)|
|---|---|
||3,569<br>16,950<br>20,519|
||-<br>5,699<br>5,699<br>-<br>205<br>205<br>-<br>11,814<br>11,814<br>3,112<br>(1,406)<br>1,706<br>-<br>(268)<br>(268)|
||3,112<br>16,044<br>19,156|



## **19. Commitments under operating leases** 

## **Consolidation** 

At 31 August 2025 the group had future minimum commitments under non-cancellable operating leases as follows: 

|**Land and buildings:**<br>expiring in the first year<br>expiring in the second to fifth year<br>expiring after five years|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>652<br>757<br>186<br>180<br>279<br>280|
|---|---|
||**1,117**<br>1,217|



## **Charity only** 

At 31 August 2025 the charity had future minimum commitments under non-cancellable operating leases as follows: 

|**Land and buildings:**<br>expiring in the first year<br>expiring in the second to fifth year<br>expiring after five years|**31 August**<br>**2025**<br>**£’000**<br>**31 August**<br>**2024**<br>**£’000**<br>652<br>752<br>186<br>180<br>279<br>280|
|---|---|
||**1,117**<br>1,212|



59 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 August 2025** 

## **20. Related party transactions** 

- a) During the year Catch22 provided services and recharged costs to The Catch22 Multi Academies Trust Ltd (MAT) amounting to £nil (2024: £206k). At the balance sheet date Catch22 was owed £nil by the MAT (2024: £15k). 

- b) There were no transactions between Catch22 and Catch22 Social Enterprise Solutions Ltd (Solutions) during the year. At the balance sheet date Catch22 was owed £109k (2024: £109k) by Solutions. 

- c) There were no transactions between Catch22 and Catch22 Social Enterprise Ltd (Auto22) during the year. The amount that was due to Catch22 from Auto22 at 31 August 2025 amounting to £646k (2024: £646k) was written off as irrecoverable in prior years and therefore the balance due at 31 August 2025 included within the Catch22 financial statements was £nil (2024: £ nil). 

- d) During the year Community Links Trust (CLT) delivered services for Catch22 amounting to £213k (2024: £106k) and Catch22 provided services and recharged costs to CLT amounting to £207k (2024: £106k). At the balance sheet date Catch22 owed £5k to CLT (2024: £nil). 

- e) There were no transactions between Catch22 and Community Links Trading during the year. At the balance sheet date Catch22 was owed £464k (2024: £464k) by Community Links Trading. A provision for £464k (2024: £464k) has been made in Catch22’s financial statements. Therefore, the balance due at 31 August 2025 included within the Catch22 financial statements is £nil (2024: £nil). 

- f) At the balance sheet date Catch22 was owed £85k (2024: £85k) by Ripplez CIC. A provision for the full amount of this debt has been made in Catch22’s financial statements for the year ended 31 August 2025 and 2024 and therefore the balance due at 31 August 2025 included within the Catch22 financial statements is £nil (2024: £nil). 

- g) Catch22 Social Enterprise Solutions Limited is a member of Public Services Lab LLP (PSL), which was incorporated on 24 November 2016, and it controls 49.49% of the voting rights in that entity. During the year Catch22 made a grant to PSL of £20k (2024: £20k). There were no balances outstanding between these entities at the balance sheet date (2024: £nil). 

- h) Catch22 previously owned 20% (2024: 20%)  of the voting rights in Jobs22 Limited, which were sold during the financial year. During the year Catch22 provided services amounting to £nil (2024: £3k) to Jobs22. At the balance sheet date Jobs22 owed £nil (2024: £nil) to Catch22. Also, during the previous financial year Jobs22 made an interest free loan to Catch22 of £234k, the loan was repayable on demand and was interest free and was fully repaid during this financial year. At the balance sheet date £nil (2024: £234k) was owed to Jobs22 by Catch22. 

60 



Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02 

## **CATCH22 PEOPLE** 

## **Patron** 

HRH The Princess Royal 

## **Board of Trustees** 

Terry Duddy, Chair (resigned 21 November 2025) Caroline Artis, Interim Chair Alison Alexander (resigned 11 December 2024) Natasha Finlayson Matthew Halstead Jeff Jacobs Gita North (resigned 18 December 2025) Pria Rai (resigned 25 September 2024) Harvey Redgrave (resigned 10 October 2025) Benoit Salama Ufuoma Irene Sobowale Claire Starza-Allen Dr Emer Sutherland (appointed 11 December 2024) Jonathan Thomas 

## **Chief Executive** 

Naomi Hulston 

**Company Secretary** Nigel Richards 

**Registered Office** 27 Pear Tree Street London EC1V 3AG 

## **Bankers** 

Barclays Bank PLC Level 27, 1 Churchill Place London E14 5HP 

## **Solicitors** 

Stone King LLP Boundary House 91 Charterhouse Street Clerkenwell London EC1M 6HR 

## **Investment Managers** 

HSBC Private Bank (UK) Limited 78 St James’s Street London SW1A 1JB 

Barclays Private Bank Level 27, 1 Churchill Place London E14 5HP 

## **Auditor** 

Moore Kingston Smith LLP 9 Appold Street London EC2A    2AP 

61 




**----- Start of picture text -----**<br>
Docusign Envelope ID: 67FD5622-8379-82A6-8257-98AE42627A02<br>**----- End of picture text -----**<br>


## **catch-22.org.uk** 

Catch22 charity limited. Registered charity no. 1124127 Company limited by guarantee. Company no. 06577534