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2025-12-31-accounts

2025 ANNUAL REPORT

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The Trustees (who are also the directors) are pleased to present their annual report for the year ended 31 December 2025.

A note on the photography in this report

Contents

Contents
About Switchback p.3
Our values p.4
2025 in numbers p.6-7
Introduction p.8-9
Siho’s journey p.10-11
Policy Spotlight: How rising recalls are
derailing resettlement p.12-15
Our plan, 2022-25 p.16
Aim 1: A platform for more young Londoners p.18-21
Aim 2: A platform for changing the system p.22-25
Aim 3: A platform for collaboration p.26
Aim 4: A platform on strong foundations p.28-29
People and culture update p.30-32
Financial review p.34-39

In 2025 we decided to review how we use images of people in our work. Both staff and Trainees have often featured, but it has felt increasingly uncomfortable for some people to have their image used in documents that would remain publicly visible for many years. We took the decision to move towards using models and actors for the majority of our photography and hired Andy Aitchison to carry out the work. Switchback staff and Trainees wrote scenarios to capture our work in as realistic a way as possible and were present throughout the shoot to coach the models and actors. We are delighted with the results, and we hope you agree that this approach keeps the authentic feel of our images whilst maintaining people’s privacy.

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About Switchback

Switchback is an award-winning charity supporting young Londoners to find their way out of the justice system and build stable, rewarding lives.

Switchback’s model is centred on a meaningful relationship between a Switchback Mentor and a Switchback Trainee, beginning in prison and lasting as long as it takes after release.

This is new territory for most Trainees: a frank, non-judgemental relationship with someone who is there for them on a daily basis, helping to navigate the turbulent transition from prison to community.

We also make sure that Trainees’ practical needs are met in the crucial days and weeks after release, providing essentials such as mobile phones and data, travel cards and shopping vouchers, as well as supporting Trainees to access housing, training and meaningful work.

Building on over 18 years of impact, we work with others to share what we’ve learned and inspire change across the criminal justice system and beyond.

Our ambition

Switchback’s ambition is that everyone has the opportunity to live a stable and rewarding life as an active member of society.

Our purpose

Switchback’s purpose is to enable young men to find a way out of the justice system and build a stable, rewarding life they can be proud of.

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Our values

Switchback’s values cut through everything we do, from our work with Trainees to our fundraising and partnerships.

1. Human

4. Ambitious

Keeping Trainees at the heart of everything we do

We build trust, confidence, independence and resilience in all areas of a Trainee’s life. In all decisions we use the lens: “does this help us improve the prospects of young prison-leavers?”

Having high expectations

We assume strengths, resources and abilities in Trainees. We don’t do things for people: we challenge and encourage our Trainees to take control. We are distinctive in our high expectations of Trainees, our own conduct, the quality of our partnerships and the impact of our work.

2. Authentic

Rolling with the ups and downs of real life

5. Pioneering

Pushing into our stretch zone

We prize integrity and honesty. We don’t sell a dream: we are realistic about what it means to genuinely start over and the huge courage needed to change. We recognise that change is not linear and we provide a space to learn from mistakes.

We challenge Trainees to move outside their comfort zone and we encourage adventure to learn and grow. As a charity we strive to do the same, constantly seeking to reflect and improve. We pioneer an alternative approach and share our evidence with others.

3. Committed

Taking the long way around

Our commitment to Trainees is consistent and continuous, lasting for as long as it takes. We reject quick fixes, shortcuts and tick boxes. We do what we say we are going to do and coach our Trainees to do the same.

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11 CAFE OPEN IL i r P4"•.

2025 in numbers

449

Total number of young prison-leavers supported by Switchback Mentors

1,772

Outcomes achieved by 92 Trainees across the 10 Switchback Pathways

75

Young men committed to our full programme and became Switchback Trainees

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Prisons from which Switchback Trainees were released

57%

Of 2025’s engagers reached our benchmark of Real Lasting Change

48%

Of Trainees who completed the programme, have started a permanent job or long-term course

More Trainees than ever before left p

plex support needs:

56%

Of 2025’s engagers needed housing action on release (cf. 55% of 2024’s engagers)

21%

Had a history of drug or alcohol misuse (cf. 3%)

39%

Experienced mental health issues (cf. 25%)

25%

Were affiliated with a gang (cf. 13%)

19%

Were care-leavers (cf. 7%)

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2025 in numbers continued

Despite facing multiple challenges on release, Switchback Trainees demonstrated huge resilience and commitment to living life differently:

73%

Achieved at least one practical education, employment or training outcome

43%

Had taken a course or undertaken paid work

51%

Addressed physical or mental health needs

32%

Improved their written or verbal communication

25%

Made progress in managing drug or alcohol issues

Since Switchback began:

We have supported

3,175 Prison-leavers

686

Committed to our full programme and became Switchback Trainees

90%

Of Trainees who complete our programme don’t reoffend within the first year

288

Have achieved a sustainable education, employment or training outcome, including 254 who started a permanent job

422

Have completed our programme, achieving our benchmark of Real Lasting Change

Switchback Trainees have achieved

18,209

Outcomes across the 10 Switchback Pathways

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Introduction

In 2025, the UK criminal justice system came under increasing strain, shaping the landscape in which Switchback delivers post-prison rehabilitation in London. Persistent prison overcrowding and a shortage of custodial places intensified national debate about the system’s sustainability, alongside major sentencing reform proposals and a growing shift towards alternatives to custody. At the same time, record court backlogs delayed justice for victims and defendants alike, increasing time on remand and adding further instability for people moving through the system.

These pressures reinforced what we see every day: the urgent need for strong, consistent community-based support for people leaving prison. As policymakers placed greater reliance on early release, probation, electronic monitoring, and non-custodial sentences, the voluntary sector’s role in supporting rehabilitation became ever more central. In London, these challenges are compounded by high housing costs, limited employment opportunities and stretched public services, meaning many people leaving prison struggle to secure accommodation, access health and substance misuse support, and rebuild their lives. Against this backdrop, effective rehabilitation is not optional – it is essential to reducing reoffending, strengthening public safety, and enabling lasting resettlement.

Despite this challenging context, Switchback continued to grow our impact, supporting our highest ever number of young men returning to London from prison in a single year. In 2025, we supported 449 young prison-leavers, whether through targeted pre-release support such as a referral to a more relevant service or directly through our Mentoring programme. 75 Trainees joined our 12-week (or longer) mentoring programme, working closely with their Switchback

Mentor to prepare for release and take practical steps towards a stable and rewarding future.

At the time of writing, just under half of 2025’s Trainees who completed the programme have already moved into permanent employment, education or training – an encouraging milestone given the significant barriers many faced on release, including poor mental health, substance misuse, gang affiliation, low literacy and numeracy, and a chronic shortage of housing. Again and again, we see how consistent, trusting relationships help Trainees rebuild confidence and begin to see a different future for themselves. We were delighted that new data analysis of our programme demonstrated that our impact remains consistent despite an increasingly challenging environment; for Trainees who complete our programme, roughly 9 out of 10 do not reoffend within the first year, compared to a national reoffending rate of around 40%.

Alongside delivery, 2025 also saw important progress in our policy and public engagement work. Our key priority was reforming the use of recall, following a sharp rise in cases seen across our frontline work. Switchback Experts by Experience, all former Trainees, led participatory action research into recall’s impact on resettlement, producing proposals for improved policy and practice. These were well received by David Gauke’s Independent Sentencing Review, and we welcome early steps by Government towards reform. However, there remains more to do, particularly to ensure short-term recalls do not replicate the harms of short custodial sentences, and we will continue to advocate for independent oversight and greater use of community-based alternatives.

2025 was also our most visible year to date in the public eye. The film Wasteman credited

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Introduction continued

Switchback Trainees and staff with shaping its portrayal of life in and after prison, and we were honoured to be selected by The Times as one of three charities featured in its Christmas appeal. Both moments brought wider awareness of our work and helped strengthen understanding of what effective resettlement support can achieve.

As we move into our next strategic plan, our focus is clear. We will continue to grow our reach with young Londoners involved in the justice system, building on the relationships and opportunities where we are currently most effective. London remains our core focus, where our partnerships are strongest and where Trainees can access the widest range of support. Alongside this, we will draw on 18 years of learning to test and adapt our model with new groups and, where appropriate, in other locations – always in partnership with local organisations who understand their communities and can embed our approach within existing networks. We will also continue to develop our evidence-based policy work, using participatory research to inform and drive change. Looking ahead, we remain committed to shaping resettlement policy so that everyone involved in the justice system can access the holistic, relationship-based support that we know delivers lasting impact.

We are deeply grateful to everyone who continues to stand with Switchback – through donations, encouragement, sharing our work, and helping others to get involved. The progress set out in this report is only possible because of that support, and we look forward to continuing this journey together in the years ahead.

Sian Williams, CEO

A note from our outgoing Chair, Duncan Shrubsole

As I sign off my final Annual Report, I feel a real sense of pride in what Switchback has achieved in its influence, delivery, and impact and how far it has come over the past decade whilst I have been Chair or a Trustee. At its heart, Switchback has always been about individuals and changing lives. The vision set out by our founders, Alice and Slaney, of creating transformative change through trusted relationships remains as strong as ever, as more young men each year experience the support of a Switchback Mentor walking alongside them. We know now that walking alongside individuals also has to mean changing and shaping the systems holding them back and denying them the opportunity to fulfil their potential. And so Switchback’s work to inform, influence and at times suitably challenge politicians, policy and practice is rightly now as important, and as effective, as its direct frontline work. And all of this is only possible because of all of the organisations, funders and many individuals who understand and recognise what Switchback does and why, and in turn stand alongside us and the young men we work with, supporting with their money, time and commitment.

We are very grateful to you all. It has been a real privilege to be part of this work and the Switchback family, I hand over the baton to Switchback’s new Chair, Julie Pal, with confidence and excitement about what Switchback, the team and, most importantly, the young men it reaches will continue to achieve in the years ahead.

Duncan Shrubsole, Chair

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Siho’s journey

“I spent a lot of time at my grandma’s house when I was younger. She looked after us a lot after my mum passed away, so it was a bit complicated growing up. I was living here and there, growing up in my uncles’ houses or staying at my aunties’ on school nights. As I got a bit older, I had a falling out with family, so I ended up going into care. I went through the care system and hostels before getting my own place and becoming independent. It was a bit of a rough patch. I wouldn’t say I had the best influences.

When I was living alone. I didn’t have someone to keep me on track. I kept hanging around in the wrong crowd and getting arrested. It was my way of feeling accepted as well as having

a source of income, but eventually I ended up going to prison. It was a bit traumatising getting used to prison. I wouldn’t say I had the best start. I spent a month in segregation and then ended up getting shipped out to a different jail. When I got to Pentonville, there were a few people that I recognised who got me on to a job as a wing cleaner, so I had a lot more time outside my cell. Then I started doing education and ended up getting my qualifications for electric and plumbing. What I realised in prison was that you’ve got to help yourself first. You’ve got to basically keep your head straight and keep your chest up. They say it’s for rehabilitation, but you see a lot of people that just give up whilst they fall into that hole.

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Siho’s journey continued

Someone told me about Switchback when I was in prison. I spent a lot of time contemplating: “I’m a fit and healthy person. I like being in the gym, so why not work in one and get paid for it?” Then Probation referred me to Switchback. I met my Switchback Mentor, Joseph, who told me that he’d worked with a Trainee who had done the same thing I wanted to do and got his PT qualification. Joseph already knew the process, which made it nice, quick and efficient.

My mentor sat me down, gave me a little talk, and helped me out with how to deal with situations.

Having a Mentor was good. There were good days and bad days; some days I came in and I wasn’t really in the mood because there was a lot of stuff going on in the background. Joseph sat me down, gave me a little talk, and helped me out with how to deal with situations. It was good because he was giving me an outsider’s perspective. Switchback got me signed up for Breathwork sessions as well. It made me feel light and got some of that stress and weight off my shoulders.

Without Switchback I feel like I would have been more lost in my career. Switchback gave me the freedom to chase my career. It gave me options and more paths to walk down.

Switchback gave me options and more paths to walk down.

I work in a gym as a personal trainer, and in a pub as a team leader. My plan is to elevate my PT business and start gaining more clients. Outside work, family time is important to me. I see my sister, my brother, my niece and nephews and spend some time with them.

My relationship with my family improved after prison 100%. In jail, I was only able to see my family once or twice a month. That got to me. When I was released, my older brother came to meet me. Before prison we didn’t have the best relationship, but we sat down for a couple of hours and had a good chat. That bond was fixed. Now I’m feeling optimistic. Things are going well. I don’t have that weight on my shoulders where I’ve got to keep looking back or worrying about getting arrested. The energy feels different because I’m not doing negative stuff and I don’t feel negatively about myself anymore. I look positively towards the day and run with it.”

Once we went on a trip to a boxing club. That opened my eyes to see what’s possible. It gave me the urge to get signed up again and back into the gym. But instead of being a learner, this time I am the trainer. To skip onto the other side of the wall, I feel proud of myself.

Now I’m feeling optimistic. Things are going well.

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Policy spotlight: How rising recalls are derailing resettlement

Switchback’s influencing work is grounded in our frontline experience; firstly from what our Experts by Experience Board (EbE) members tell us is holding them back, and secondly to what Switchback Mentors regularly observe in their day-to-day work. In recent years, one issue has consistently emerged as a key concern: prison recall.

Prison recalls occur when an individual who is released from prison on licence is recalled by their probation officer, either because they’ve not complied with their licence conditions or are considered a serious risk of reoffending. Recalls were a relatively rare occurrence in the 1990s, with fewer than 100 recalls a year. But in recent years their use has grown rapidly. In 2024, the Probation Service made over 30,000 recalls in a single year – a new record high, and twice as many as just 15 years earlier.

At Switchback we saw the frontline reality of this. Men were being recalled for miscommunications and minor breaches that, in the past, would have been handled through conversations with their Probation Officer, which might in turn have led to additional support or warnings. Instead, recall appeared to being increasingly used disproportionately, rather than as one of a suite of risk management tools. On an individual basis we were able to advocate for Trainees facing recall, with some success in having recall decisions reversed and replaced with community-based support. But the bigger issue of recall playing a negative role in resettlement remained.

As part of Switchback’s aim to elevate resettlement as a national policy issue and support more Trainees to champion change across the justice system, we felt compelled to

Don’t ever think your thoughts and opinions are small and invalid, because the conversations here get passed to the Government and people who can change things. We really are the voice of the streets, so don’t ever shy from your opinions.

Sage – EbE Member

act. We also saw an opportunity to raise an issue that might speak to an emergency occupying ministers’ minds at the time – the prison capacity crisis. The massive increase in the rate of recall was making it almost impossible to solve the capacity crisis. For every four prison releases, there were now three prison recalls.

Switchback worked with a group of six peer researchers from our Experts by Experience Board to conduct a Participatory Action Research (PAR) project. PAR brings together professional researchers and people with lived experience to conduct research and advocate for positive change. We met weekly, exploring the topic of recall and identifying where we wanted to learn more. We used these areas to create a research plan, and the peer researchers co-designed a survey and ran workshops with people with lived experience. We surveyed 26 people and ran in-depth workshops with six people, creating a powerful evidence base for our findings and recommendations.

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Policy spotlight: How rising recalls are derailing resettlement continued

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Policy spotlight: How rising recalls are derailing resettlement continued

We shared these findings through traditional and non-traditional methods – a report and the comic book strip shown on the previous page – to reach different audiences. Based on suggestions from the group, we worked with Michael Kennedy, an illustrator specialising in portraying underrepresented groups, to produce a piece that brought our findings to life. We also held parliamentary drop-in events where we spoke directly with MPs about the issue and our research.

We co-founded the Recall Reform Coalition with our partners in the sector and organised joint awareness raising events. The research group hosted Martin Jones, the Chief Inspector for Probation, at Switchback and we met Andy Slaughter, the Chair of the Justice Select Committee, and senior officials at the Ministry of Justice. We submitted our evidence to the ongoing Sentencing Review. We also reached over 7,000 people with a keen interest in the justice sector with a guest blog on Russell Webster’s website.

Our persistence made demonstrable impact, and we succeeded in keeping recall high up on the political agenda in 2025. The Sentencing Review recommended that the Government introduce a new model for recall with stricter criteria and thresholds and specifically cited the voluntary sector’s contribution on recall.

The Government legislated to replace all standard and fixed term recalls with a shorter 56-day recall period. This significant decision will reduce both the length of many recalls and the harm of many avoidable recall decisions.

While this is all welcome progress, we’ve not yet seen the Sentencing Review’s recommendation to introduce a new model with stricter criteria and thresholds taken up. We believe that this change is crucial to reducing the number of recalls and the negative impact they have on people’s resettlement journey. We will continue to advocate for this new model, as our evidence shows that a lack of clarity around recall drives mistrust and unnecessarily prolongs people’s involvement with the justice system. We are realists and know that the journey of policy change is a long one, but we are proud to have been involved in this vital work of reforming recall.

The Recall Reform Coalition, co-founded by Switchback with Catch22, is a collective of organisations that are concerned about the growing rate of recall. We meet regularly to share information and plans and coordinate joint actions on this issue. Our membership is diverse, representing small delivery charities through to national organisations, legal groups and thinktanks.

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Policy spotlight: How rising recalls are derailing resettlement continued

Switchback reached over 7,000

people with a vested interest in the justice sector

The Government passed legislation to replace all standard and fixed term recalls with a shorter 56 day

recall period

We co-founded the Recall Reform Coalition with our partners in the sector

Switchback worked with EbE to conduct a PAR project, bringing together professional researchers and people with lived experience to conduct research and advocate for positive change

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Our plan, 2022-25

1. A platform for more young Londoners 2 . A platform for changing the system 3. A platform for collaboration

4. A platform on strong foundations

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IBA¢KC ec ¥ll I l-e￿ hTt

Aim 1: A platform for more young Londoners

A platform for more young Londoners: we’ll expand our team of Switchback Mentors to double the number of young Londoners we can support, establishing Switchback as a beacon of best practice inspiring change across the system.

Overview

2025 was Switchback’s most successful year yet. We worked with a total of 88 Londoners leaving prison on our intensive 1-to-1 mentoring Real Lasting Change programme. 75 Trainees started the programme in 2025, making it our highest ever number of new Trainees in a year. We provided tailored sessions to a further 305 men pre-release, ranging from housing and employment support, to referrals to appropriate mental health services.

Homelessness continued to be a significant barrier to effective resettlement, either on release or after leaving temporary accommodation, and 57% of Trainees were supported with housing applications. Support around family relationships was also a key theme, with some Trainees navigating contact with children while others were working to rebuild trust with parents, partners and other family members. Mental health needs ranged from low-level anxiety and depression to more complex trauma. Trainees were supported to access support through our new Breathwork pilot or talking therapies, or supported through regular, structured check-ins that gave them space to reflect and stabilise. In terms of progression, Trainees received hands-on support enrolling in training courses, including CSCS, hospitality, and Traffic Management. In practice, this means Mentors supporting them to gather ID and write personal statements, with Switchback covering course fees where possible, and liaising with providers to keep them engaged.

One of Switchback’s biggest challenges in scaling our impact is growing our frontline team. On average, Mentors are usually under 30 and tend to stay in post for 2-3 years, which makes building and sustaining a high performing team an ongoing priority. In early 2025, three of our most experienced Mentors left the team to take up other opportunities. Following a thorough recruitment process, we are delighted to have welcomed five new Mentors to our team, bringing with them a rich mix of experience, including professional mentoring backgrounds, nationallevel policy expertise within the criminal justice system and deep understanding of the issues facing Trainees. But the lengthy vetting process required for our Mentors to work in prison meant one new Mentor had to wait ten months for their vetting clearance. With only three Mentors cleared to work in prisons, for much of the year we were limited to working in only two London prisons. For the first time we had a waiting list, with over 40 people at one point waiting to start the programme. Our successful recruitment and onboarding meant that our capacity was back to full strength by the autumn, and we were able to restart our work in three more London prisons.

The new Mentors loved our enhanced induction process, including a new e-learning platform. We are committed to continuing professional development, and the whole team undertook extensive training, ranging from Unconscious Bias and Prevent, to Motivational Interviewing, to strengthen our ability to engage more effectively and sensitively with Trainees from

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Aim 1: A platform for more young Londoners continued

2025 was Switchback’s most successful year yet – 75 Trainees started the programme in 2025, making it our highest ever number of new Trainees in a year.

Aim 1: A platform for more young Londoners continued

diverse backgrounds, while also enhancing awareness of potential safeguarding concerns. Other training included suicide awareness and supporting people with complex housing issues.

Statutory partners remain pivotal in reaching potential Trainees, so we have focused on strengthening relationships with Probation Officers as well as Prison Governors. We regularly attend probation team meetings and

Reducing Reoffending meetings in prisons and have shared new marketing materials codesigned with Trainees which are driving effective referrals. We are forming new partnerships with Leaving Care Teams, Drug and Alcohol Services, Community Safety Units, and Integrated Offender Management Teams, to ensure that more individuals in contact with the criminal justice system are aware of and able to access the tailored support Switchback provides.

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Aim 1: A platform for more young Londoners continued

Addressing work-readiness: Building confidence for professional environments.

An emerging theme is that a number of Trainees are not fully prepared to enter professional working environments on release. This often stems from complex barriers such as a lack of prior work experience, disrupted education, or challenges related to trauma and social disadvantage. We are piloting targeted workshops and interventions to address this gap. These focus on building practical workplace skills and soft skills – such as communication, time management, professional behaviour, and navigating employer expectations.

The aim is to bridge the gap between Trainees’ personal development and the realities of the working world, helping them to build the

confidence and competence needed to succeed in sustained employment. By proactively addressing this challenge, we aim to improve long-term employment outcomes and ensure that Trainees leave the programme not only motivated but genuinely prepared for the next stage of their journey. This work also creates great opportunities for practical volunteering partnerships. For example, our corporate partner LGC have supported Trainees through facilitating CV workshops and mock interviews, which create opportunities for Trainees to talk about their professional skills and aspirations in a safe environment whilst also strengthening their employability skills.

The 10 Switchback Pathways.

----- Start of picture text -----
Accommodation
Employability Drugs & alcohol
Education & Mental &
training physical health
Relationships Independent
& family living skills
Finance Attitudes &
Finance Attitudes & behaviour
behaviour
Interaction with
the criminal
justice system
----- End of picture text -----

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Aim 2: A platform for changing the system

A platform for changing the system: we’ll support more Trainees to take an ever-greater role in championing change across the justice system and tackling social and racial injustice – foregrounding their experience and shifting perceptions by amplifying Trainee voice and influence at every opportunity.

Overview

Media

Justice and resettlement remained high on the public policy agenda in 2025 as the prison capacity crisis continued to put pressure on the entire justice system. EbE members continued to work closely with our team, ensuring that lived experience insight drives all our influencing work. 2025 has been another jam-packed year for EbE.

As if being featured in national newspapers, big screen thrillers and writing reports that have influenced government policy wasn’t enough, we have plenty more highlights to celebrate. One of the biggest was appointing long term EbE member and Switchback staff member Raihan Miah to the role of Community Coordinator.

It’s been a standout year for EbE when it comes to the media. From feature films to major national newspaper campaigns, here’s how we’ve been working to change public perceptions.

Wasteman

For the last two years, Switchback and EbE have consulted on the BAFTA-nominated prison thriller Wasteman. EbE advised actors David Jonsson and Tom Blyth – as well as director Cal McMau and the rest of the crew – on the reality of the prison system. They influenced everything from the script to costume, props, character and set design – with some even appearing in the film as actors. Meanwhile Switchback advised on framing and language around prison leavers

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Aim 2: A platform for changing the system continued

for the marketing of the film, in line with our aims of amplifying the voices of Trainees as well as changing perceptions of men caught in the justice system. Dubbed by critics as “the new best prison film of all time”, our consultancy served the dual purpose of answering EbE’s desire to be more involved in the creative world and supporting our Flip the Script campaign, by using pop culture to shape important conversations around prison. If you haven’t seen it yet – grab your popcorn!

The Times

In 2025, we were thrilled to be selected for The Times and The Sunday Times Christmas Appeal. As the first ever justice charity to be selected, it was a particularly proud moment – and with the prison capacity crisis dominating column inches, it was an apt moment to amplify the voice of EbE and create a compelling agenda for resettlement.

EbE were interviewed and photographed in articles that covered yoga, food, fitness, film and art – as well as prison – to show the public what living life differently looks like when you have support. We raised an incredible £180,000 through the Times charity appeal, but we also empowered EbE to tell stories that they’re proud of while encouraging the public to revise how they think about the justice system.

case that collectively we’re failing to create a rehabilitative pathway and offering practical recommendations for transforming resettlement, including our proposals for redesigning recall. Switchback’s frontline work is London-focused, so we were delighted to work with Hina Bokhari, Chair of the London Assembly Committee on Economy, Culture and Skills, to support a Committee Inquiry into employment in London after leaving prison. As well as providing oral and written evidence to the Committee, we invited Committee members to see our mentoring work in action on a visit to our Real Work Training partner, the Dusty Knuckle Bakery. EbE members showed Committee members how Trainees work around the bakery and then joined them for a roundtable discussion, sharing their experience of the barriers to post-prison employment and their insight on how the unique combination of holistic mentoring and a supportive employer can transform that experience into the start of a positive employment journey. The Committee’s report included strong recommendations to improve resettlement support, including exploring how to provide a mentor for every prison leaver in London.

Effective resettlement is closely tied to social and economic inclusion, so EbE members were also proud to contribute valuable insight to NatWest on how prison-leavers manage their everyday money, using individual experiences to illustrate the barriers they faced, such as opening bank accounts with limited access to technology.

Policy

Training

As well as contributing to the Sentencing Review undertaken by David Gauke, we also fed into the Justice Select Committee’s Inquiry into resettlement and rehabilitation, setting out our

Building the capacity of EbE members remains central to our work. This year, we brought together former members, creatives, and financial educators to support their development.

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Aim 2: A platform for changing the system continued

As a boy, bikes kept me out of trouble – now they stop me reoffending.

Jason, a former Switchback Policy Intern, returned with Beyond the Narrative to deliver a workshop on “owning your own story.” Miles Ananda, an LA-based creative linked to ‘AIM 4 the Heart’, led an emotional literacy session using art and poetry to explore issues affecting members. In response to feedback, financial educator Ola Majekodunmi from ‘All Things Money’ also delivered a session on advanced money management, including invoicing and working independently.

Partnerships

We also hosted Kehinde Adeogun from the Black Equity Organisation for a discussion on tackling anti-Black racism across the sector, alongside supporting BEO’s legal advocacy on the disproportionate use of electronic monitoring.

To deepen our work on housing, we brought together teams from Crisis and New Horizon Youth Centre for an EbE session focused on developing campaigns addressing the barriers prison leavers face in securing accommodation, laying the groundwork for a larger housing project in 2026.

We strengthened our collaboration and lived experience leadership through a range of partnerships and creative projects. We welcomed colleagues from another justice charity, StandOut, to observe an EbE session, before EbE members joined StandOut’s Experts Beyond Bars group to share experiences of advocacy and using lived experience to support others.

Alongside this, we expanded opportunities in the creative sector, building on our Unscripted programme by consulting on multiple film projects, including advising producer Uberto Passolini on a film about a young man on probation, and supporting Trainees to work as extras on ‘Frank & Louis’, a film exploring prison life and care for inmates with Alzheimer’s and dementia.

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Aim 2: A platform for changing the system continued

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Aim 3: A platform for collaboration

A platform for collaboration: we’ll work creatively with others to enable growth of our delivery and drive change across the system.

Overview

Switchback’s model relies on strong relationships at every stage of a Trainee’s journey. From securing access to prisons and building effective partnerships with probation officers to generating referrals across London’s 32 Probation Offices, these connections enable us to link Trainees with housing, financial services, mental health support, training, and employment opportunities. Maintaining prison access remains critical; we renewed our 12-month Service Level Agreement (SLA) with HMP Brixton and are in similar discussions with HMP High Down and HMP Isis.

In 2025, a key priority was expanding Real Work Training for older Trainees with limited employment experience, as our existing partnerships were primarily for younger men. We established partnerships with Redemption Roasters and Social Pantry, offering flexible, phased routes into work that reflect the complex demands of early resettlement, such as prioritising probation appointments and applying for housing and benefits.

We also strengthened support across our 10 Pathways, including a new housing referral route with Windrush Housing and a successful pilot with Blue House Yoga and Breathwork, to test the extent to which trauma-informed support would benefit Trainees. We ran our third annual film and media training school, Unscripted, and built new relationships leading to job opportunities, including at the Old Vic, apprenticeships at The Hill & St James, AXIS and Net Zero Careers, as well as hospitality training at Springboard.

Alongside our own delivery, we contributed to sector development by training staff at Debt Free Advice to work in prisons, and through co-facilitating a cross-sector collaboration with XO Bikes and other organisations to improve outcomes for people leaving prison. We also partnered with StandOut, to convene over 20 third sector providers across London to explore how the Government’s commissioning plans for community support for prison-leavers will affect the sector, raising our concerns directly with Lord Timpson, the Minister for State for Prisons, Probation and Reducing Reoffending. We remain concerned about the impact of the proposed contracts and continue to advocate for an approach which ensures the continued survival of the third sector providers in this space.

Partners also enabled a range of cultural and sporting opportunities for Trainees to broaden their horizons and help them feel like young Londoners. Trainees participated in an experience at TOCA Football, engaging in interactive football sessions, as well as a boxing experience at The Bronx Boxing Gym, founded by Marnie Swindells, former winner of The BBC Apprentice. Trainees and Mentors also took part in a five-a-side football match with Peters & Peters, a Switchback corporate supporter.

Looking ahead, we are delighted to have been selected as a charity partner by Berkley Group from May 2026. This new partnership will create exciting new training and employment opportunities for Trainees within the construction sector, as well as enable us to access the organisational support of a corporate partner that truly shares our values.

26

We also strengthened support across our 10 Pathways, including a new housing referral route with Windrush Housing and a successful pilot with Blue House Yoga and Breathwork.

27

Aim 4: A platform on strong foundations

A platform on strong foundations: we’ll make the operational step-change needed to become a thriving mid-size charity while closely guarding our values and agility, building a team representative of modern London.

Overview

2025 was another significant year of organisational development for Switchback. With his final Trustee term coming to end in February 2026, we began the recruitment process to find Duncan Shrubsole’s successor as Chair of our Trustee Board. Duncan’s steady hand has steered Switchback successfully through multiple pivotal changes, including the journey from a small to medium-sized charity, adapting to the pandemic and its aftermath, as well as the leadership transition from Founder to new CEO. Duncan can be hugely proud of his contribution to Switchback’s sustained success, and we are grateful for his time, energy and unwavering commitment to keeping what’s best for Trainees at the heart of the Board’s work. After a transparent and open recruitment process using Charity People, a recruitment agency known for its inclusive practices, we were delighted to welcome Julie Pal as our new Chair. Julie brings a wealth of experience both as CEO and Chair from both the youth and mental health sectors.

With three Trustees reaching the end of their terms in 2025, we were delighted to welcome four additional new Trustees to our Board this year: Omar Mentesh, Kirsten Westlake, Simon Fell and Oscar O’Mara, who between them bring lived experience of the justice system and extensive experience of fundraising and finance, policy influencing, research and government programme development and delivery. We also welcomed Joseph, a former Switchback Trainee, as our new Experts by Experience Board Adviser

to represent the voice and insight of Switchback Trainees and ensure they are embedded at the heart of our governance. Together, these appointments have strengthened our Board’s ability to shape our new strategic plan, support our work to strengthen Switchback’s financial sustainability, and provide effective oversight across all our work, whilst keeping Trainee needs front and centre of all our decision-making.

We also expanded our Delivery Team capacity significantly this year, with the aim of reaching even more young Londoners. We created two new Delivery Manager roles to provide expert support and oversight for the team, alongside five new Mentors bringing a wide range of experience of the justice system. We also started recruitment for two Leadership roles, as Antonia May Cross, Head of Influencing, and Jack Robson, Head of Fundraising and Impact, both moved on at the end of the year. Both had made significant contributions to raising our profile, expanding our supporter base, generating invaluable income and influencing policy. We are delighted to welcome Jodie Beck as our new Head of Influencing, and Krystyna Emery will join us in July in a new role as Head of Development.

With a growing team, we were spending an increasing amount of time on providing HR support, including through excellent pro bono support from Baker McKenzie for HR legal advice. We therefore took the decision to create a dedicated HR Manager role to increase our inhouse expertise and capacity. We were delighted to welcome Anke Badaru, who brings a wide range of HR experience and got to work straight away

28

Aim 4: A platform on strong foundations continued

We welcomed our new Chair of Trustees, as well as four new Trustees, bringing experience from the youth and mental health sectors, fundraising, government, and programme development.

reviewing our HR policies and strengthening our HR infrastructure. In line with our commitment to being a competitive employer, we are also reviewing our pay and benefits to ensure we are offering an attractive package that supports staff wellbeing in an increasingly expensive city.

We continued to diversify our income and successfully grow our philanthropy. At the end of 2025, we took part in two significant fundraising campaigns. For our third Big Give Christmas Challenge we doubled our fundraising goal from the previous year, and we were also chosen by the Times and Sunday Times as one of three charities to be supported by their readers as part of a Christmas appeal. We were overwhelmed by the generosity and spirit of our supporters who took part and made the campaigns such a huge success, helping us raise an incredible £80,000 for the Big Give in just seven days, followed by another £180,000 through the Times campaign in December and January. Both campaigns helped

raise our profile as well as funding, and our team are following up with every supporter for whom we have contact details.

We were also delighted to receive new grant funding this year from MariaMarina Foundation, 36 South Capital Advisors, Leathersellers’ Company and more. We were also incredibly grateful for the continued support from organisations such as The Henry Smith Charity, Comic Relief, City Bridge Foundation, The Fishmongers’ Company’s Charitable Trust, Swire Charitable Trust and Peters & Peters for their ongoing belief in our work.

We’d also like to thank Baker McKenzie LLP for the continued pro bono support we received from their dedicated team over 2025. This type of support is invaluable to us as an organisation, providing us with high quality advice which allows us to invest in our frontline services with confidence.

29

People and culture update

Aim: Building a diverse team and Board representative of our Trainees and modern London

Nine in ten Switchback Trainees are from an ethnic minority background, so it is vital that our team is representative of the men we support. It’s also key that our influencing work clearly challenges the structural reasons underpinning the overrepresentation of ethnic minority

communities in the justice system, and that our organisational culture proactively includes and supports all forms of diversity. Switchback’s Equity, Diversity & Inclusion Policy focuses on both our people and our operational delivery and is published on our website

2025 has been a significant year for People and Culture at Switchback. As Chair of the People and Culture Sub-committee, I have been consistently impressed by the organisation’s commitment to building a team that is not only highly skilled but genuinely reflective of the communities it serves. The data shows real progress, with 50% of the team now from an ethnic minority background, Switchback is moving in the right direction, though we remain committed to continuing to improve representation, particularly from Asian and other underrepresented backgrounds.

The investment in people this year has been considerable: a new HR Manager, enhanced induction and e-learning for Mentors, and an ongoing review of pay and benefits. These are not just operational decisions; they reflect a deep organisational commitment to staff wellbeing and to being an employer of choice in the sector. The creation of two new Delivery Manager roles also shows Switchback’s maturity as a growing organisation, ensuring frontline staff are properly supported and supervised.

Looking ahead, I am excited to see the outcomes of the pay benchmarking review and the continued development of the EDI Advisory Group. These foundations will be crucial as Switchback enters its next strategic chapter.

Nicola Hurley, Trustee and Chair of the People and Culture Sub-committee.

30

People and culture update continued

Embedding Equity, Diversity and Inclusion across Switchback

Our Board

Our focus this year was on finding a new Chair to succeed Duncan Shrubsole on his retirement after serving nine years as a Trustee. Following an open recruitment supported by Charity People, we were delighted to appoint Julie Pal, who brings valuable experience as both CEO and Chair of London-based third sector community and mental health organisations, as well as insight into local authority commissioning and delivery. We also welcomed a further four new Trustees – Omar Mentesh, Simon Fell, Kirsten Westlake and Oscar O’Mara – whose collective experience has further strengthened our Board’s skillset in fundraising, research and policy influencing, as well as bringing lived experience of the justice system, all key areas for our strategic growth. We also welcomed a new EbE Board Adviser, Joseph, to represent the views of Trainees at the Board.

Our team

Our annual staff survey snapshot showed that our team continued to reflect the ethnic make-up of our Trainee cohort. We continue to implement inclusive recruitment and practices, including holding informal online Q&As for all advertised positions, offering flexible working to all staff wherever possible, and continuing to strengthen our knowledge and skillsets around trauma-informed leadership and management.

A key focus for our 2025 awayday was our approach to increasing social and racial justice. That highlighted people’s desire for training on how to have confident conversations around these issues, including how to challenge the machismo culture so prevalent in prison, which is now being rolled out for all staff.

.

31

People and culture update continued

Ethnicity and gender

Switchback underrepresents people from Asian and other ethnic backgrounds but overrepresents Black and mixed-race people.

----- Start of picture text -----
Ethnicity % of % of % of % of % of 2021
staff in staff in staff in staff in staff in Greater
2021 2022 2023 2024 2025 London
census
Asian or Asian British 0% 10.5% 9.1% 9.5% 12.5% 20.8%
Black or Black British 8% 10.5% 9.1% 14.3% 25% 13.5%
Other ethnic background 0% 0% 4.5% 4.8% 0% 6.3%
Mixed 15% 10.5% 18.2% 19% 12.5% 5.7%
White 77% 68.4% 59.1% 52.4% 50% 53.8%
Prefer not to say 0% 0% 0% 0% 0% 0%
----- End of picture text -----

----- Start of picture text -----
Gender % of % of % of % of % of 2021
staff in staff in staff in staff in staff in Greater
2021 2022 2023 2024 2025 London
census
Female 77% 84.2% 68.2% 52.4% 53.1% 51%
Male 23% 15.8% 31.8% 47.6% 46.9% 49%
Non-Binary 0% 0% 0% 0% 0% unknown
Other 0% 0% 0% 0% 0% unknown
Prefer not to say 0% 0% 0% 0% 0% unknown
----- End of picture text -----

Our 2026 work plan includes a full benchmarking review of our pay scales, as well as delivering organisation-wide training both in EDI awareness and our role in increasing social and racial justice. We will also refresh our EDI Advisory Group to ensure staff have the opportunity and support to contribute to shaping our policy and practice.

32

Financial review

Income and expenditure summary

We had an exceptional fundraising year for Switchback with a record amount of income raised for the organisation – resulting in 12% year on year growth. We continued to benefit from existing donors and multi-year grants as well as securing new multi-year grant funding and benefitting from two fundraising campaigns – The Big Give Christmas Challenge and The Times Christmas Appeal 2025. Included within income are gifts in kind totalling £149,756 in relation to legal and professional fees and Trainee experience fees.

The total cost of the Switchback programme in 2025 was budgeted at £1.5 million. Expenditure for the year was higher than budgeted at £1,532,818. Included within expenditure are gifts

in kind totalling £149,756 in relation to legal and professional fees and Trainee experience fees. Staff turnover and subsequent delays in recruitment, alongside other unforeseen staff costs savings, resulted in staff costs being significantly lower than budgeted.

Taken together with our successful fundraising efforts, we delivered a £201,386 surplus, putting us in a healthy position to start the next financial year.

Expenditure was appropriately focused to facilitate the achievements and performance set out in this report. Our expenditure on charitable activities increased by £106,204 in 2025 to £1,319,248 of which £149,756 are gifts in kind as detailed above.

----- Start of picture text -----
£ 2022 2023 2024 2025
Income 1,151,335 1,219,788 1,552,479 1,734,204
Expenditure 1,151,342 1,216,990 1,413,469 1,532,818
Surplus/(deficit) (7) 2,798 139,010 201,386
Total funds – 984,252 987,050 1,126,060 1,327,446
restricted and
unrestricted
----- End of picture text -----

Income by type in 2025

Our income mix is similar to previous years with the main change being an increase in donations from individuals and a decrease in funds from Trusts. The increase from individuals is due in part to the success we had in two big Christmas campaigns – The Big Give Christmas Challenge and The Times Christmas Appeal 2025.

2%

Corporates 4% Individuals 10% Trusts 24% Government Interest 62%

34

Financial review continued

Some of our key donors are listed below, and we are hugely thankful to those many loyal funders who have chosen to support us again in 2025. Additionally, we extend our enormous thanks to the generous donors not listed here, both those who chose to remain anonymous, as well as those many supporters whose donation was less than £10,000 – these gifts are truly vital to our work.

Management pay

The key management personnel are comprised of the Chief Executive and four Directors/ Heads of Department. The remuneration for key management was reviewed during the Trustees’ annual salary review for the whole team. Their review considers the following:

Donors that supported Switchback in 2025 (£10,000 or more)

36 South Capital Advisors Brown Dog Charles Hayward Foundation City Bridge Foundation Comic Relief Dorus Trust Epigoni Trust The Fishmongers’ Company’s Charitable Trust Garfield Weston Foundation Girdlers’ Company Charitable Trust The Henry Smith Charity Ministry of Justice Highway One Trust HughBonGo Fund The Talent Fund Iguano Group The Leathersellers’ Foundation MariaMarina Foundation The Mark Leonard Trust Milton Damerel Trust Peters & Peters Solicitors LLP Propel Raise Your Hands The Swire Charitable Trust The National Lottery Community Fund Tom Ap Rhys Pryce Memorial Trust Vitol Foundation

Investment policy

Our annual Investment Policy review concluded Switchback funds will not be invested (outside of regular deposit accounts) as the Trustees feel it inappropriate to take on the level of risk that investment brings at this current time.

Fundraising regulation

Our fundraising activity is wholly carried out by our in-house fundraising team. Switchback became members of the Fundraising Regulator in 2025 and are therefore committed to follow their Code of Fundraising Practice and the Fundraising Promise. There have been no failures to comply with the Fundraising Code nor has Switchback received any complaints concerning its activities in this area since the foundation of the organisation.

Reserves policy

Switchback provides a long-term programme, and we know that our reserves policy should reflect the commitment we make to our Trainees that we will remain available to them for as long as they need, not constrained by limited timeframes. The Board of Trustees is required to annually review and agree the reserves policy.

35

Financial review continued

The Finance & Resources Sub-committee, therefore, reviewed and agreed to an update to our policy at its meeting in January 2026, which was then agreed by the full Board at its meeting in January 2026. In setting our reserves policy, the Trustees wish to maintain a level of reserves that provides a stable basis for continuing activities whilst at the same time ensuring that funds are utilised for the benefit of Trainees.

Our policy has changed from ‘4 to 6 months of the following years expenditure’ to ‘the calculated minimum level to wind down the organisation to 6 months of the following year’s budgeted expenditure’. The calculated minimum level of reserves is based on a wind down period of 4 months, the staff costs required for that period and key non-staff costs such as rent, Trainee expenses and other general overheads. The minimum level of reserves must be recalculated at the beginning of each financial year or when there is a significant change to the budget.

Beyond this, we want to ensure that we have sufficient financial flexibility to innovate quickly to enhance our impact or to cover the costs of any unforeseen loss of funding or adverse circumstances, prior to taking remedial action. Based on our 2026 forecast expenditure of £1.66m, this requires retaining unrestricted reserves of between £434,524 and £831,171. These figures are regularly reviewed by the Finance & Resources subcommittee.

Designated reserves

Designated reserves are established at the discretion of the Trustees for specific purposes which are in the best interests of the charity.

At the end of 2025 the Trustees decided to ringfence some of the reserves into the following designated funds, to ensure that activity to support the strategy can be carried out:

• Office Relocation Fund: £25,000 was allocated to this fund to cover any future office move due to a break clause in our office lease which can be activated by our landlord from June 2026. The fund will also support covering additional costs if there is a future need to move to bigger premises. The Trustees agreed that £25,000 is added to this designated fund each year until the end of the current lease in January 2029. The entire £25,000 remains unspent at the end of 2025.

The Trustees are confident that there are sufficient unrestricted reserves to meet future commitments. At 31 December 2025, Switchback’s unrestricted reserves stood at £822,677 (2024: £705,587).

36

Financial review continued

Structure, governance and management

The charity number, principal address and details of professional advisers are included in the administrative information sheet at the front of the accounts.

EbE Board Adviser

A new EbE Board Adviser was appointed at the end of 2025. We are delighted to welcome Joseph to the role and look forward to his experience and knowledge bringing an incredibly valuable contribution to the Board.

The Switchback Initiative (trading as “Switchback”) is a company limited by guarantee, registered in England and Wales on 10th June 2008 and governed by Articles of Association. 2025 has seen some changes to our Trustee Board as five Trustees were appointed to the Board including a new Chair.

Switchback has always been grateful for the support of a range of experts, advisers and supporters from a range of fields. Special thanks to our long-term Patrons: Hugh FearnleyWhittingstall and Primrose Bell for their continued support and advice.

Trustees as of 6 May 2026

Recruitment, induction and training of new Trustees

We appointed five Trustees in 2025, including a new Chair. The five Trustees were supported through our robust induction process which is designed to ensure that new Trustees fully understand their roles and responsibilities as well as the objectives, activities and ethos of the charity. New Trustees meet with the CEO, the leadership team and the Chair as well as being provided the relevant background information about the charity. Trustees also visit the Switchback office, training environments and a prison to help their understanding of how we deliver the programme, the environments in which we work and the associated risks.

Julie Pal – Chair Gillian McMillan – Treasurer Burphy Zumu Harriette Tillott Jasmine Ashley-Tagoe – Safeguarding Co-Lead Nicola Hurley – Safeguarding Co-Lead Omar Mentesh Kirsten Westlake Simon Fell Oscar O’Mara

Trustees’ responsibilities

The Trustees (who are also the directors of The Switchback Initiative for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.

37

Financial review continued

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

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees delegate day to day decision making and operations to the CEO and the leadership team. The Board of Trustees has set up a Finance and Resources Sub-committee that meets quarterly to review management accounts, fundraising forecast and cashflow analysis. Recommendations are then presented to the full Board which also meets quarterly. The Trustees believe that the charity is a going concern and for this reason, the going concern basis of the preparation for the financial statements is considered valid.

Risk management and uncertainties

Effective risk management is critical in working towards the achievement of our mission. The Board of Trustees maintains overall accountability for ensuring that effective risk management practices are in place. They review and agree these arrangements on an annual basis. They are supported in this by the Finance and Resources sub-committee, which reviews the risk register every quarter.

The Trustees’ Report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

38

Financial review continued

The leadership team have responsibility for the risk register and review this monthly. A summary of the principal risks and uncertainties identified by the Trustees are as follows:

The Trustees’ Report was approved by the Trustees on 6th May 2026 and signed on their behalf by Julie Pal.

The Trustees are satisfied that the risks identified above have been mitigated or addressed as required and that arrangements are in place to review them on an ongoing basis. The financial statements comply with the Charities Act 2011, the Companies Act 2006, and the charities Statement of Recommended Practice. The Trustees have taken Charity Commission Guidance on public benefit into account.

Julie Pal, Chair

I feel so honoured and privileged to be appointed as the new Chair for Switchback. Switchback is an amazing organisation – I cannot stop talking about it across my networks and how it wants to make a difference to Londoners. I have loved meeting with the Mentors and hearing about their journeys into Switchback and meeting young men with lived experience of the justice system has been sobering. We are embarking on a new strategy which I am delighted has been shaped by everyone across the organisation. This will serve as our guiding document for the next three years with the aim of reaching even more young Londoners and helping shape a more effective national resettlement policy. I am so excited to be part of Switchback’s transformation journey.

Julie Pal, Switchback’s new Chair of Trustees

39

Thank you to all our partners, supporters and donors for your continued support. It’s thanks to you that Switchback can support even more young men to build stable, rewarding lives.

office@switchback.org.uk

020 7650 8989 www.switchback.org.uk

Switchback, 3rd Floor, Norvin House, 45-55 Commercial Street, London E1 6BD Registered Charity Number 1125100 | Company Number 06615923 | Published 10 June 2026

@switchback_ldn

Thank you to Andy Aitchison and John Nguyen/The Times.

The Switchback Initiative (Limited by Guarantee)

Trustees’ Report and Financial Statements For the year ended 31 December 2025

Registered Company number: 06615923 (England and Wales) Registered Charity number: 1125100

41

THE SWITCHBACK INITIATIVE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Ashley-Tagoe
S Fell – (appointed 03 December 2025)
N Hurley
G McMillan
O Mentesh – (appointed 29 January 2025)
O O’Mara – (appointed 03 December 2025)
J Pal – (appointed 03 December 2025)
H Tillott
K Westlake – (appointed 03 December 2025)
B Zumu
B Summerskill – (retired 20 March 2025)
O Gillan – (retired 31 May 2025)
D Shrubsole – (retired 22 February 2026)
Senior Management Team S Williams – Chief Executive
A Cross - (resigned November 2025)
H Topley
C Anderson
J Robson – (resigned November 2025)
C Best
J Beck – (appointed March 2026)
Company Secretary C Anderson
Charity Number 1125100
Company Number 06615923
Registered Office and Principal Address Switchback
3rdFloor
Norvin House
45-55 Commercial Street
London
E1 6BD
Independent Auditor TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Main Banker Co-operative Bank Ltd
PO Box 101
1 Balloon Street
Manchester
M4 4BE

42

THE SWITCHBACK INITIATIVE

CONTENTS

Page
Report of the Independent Auditor 44 - 47
Statement of Financial Activities 48
Balance Sheet 49
Cashflow Statement 50
Notes to the accounts
51 - 61

43

THE SWITCHBACK INITIATIVE

REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 31 DECEMBER 2025

We have audited the financial statements of The Switchback Initiative (the ‘charitable company’) for the year ended 31 December 2025. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 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 trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.

44

THE SWITCHBACK INITIATIVE

REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 31 DECEMBER 2025

In connection with our audit of the financial statements, 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 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 or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable incorporated organisation’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable incorporated organisation or to cease operations, or have no realistic alternative but to do so.

45

THE SWITCHBACK INITIATIVE

REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 31 DECEMBER 2025

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 the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit, in respect to 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; and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management.

Our approach was as follows:

46

THE SWITCHBACK INITIATIVE REPORT OF THE INDEPENDENT AUDITOR FOR THE YEAR ENDED 31 DECEMBER 2025

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included: testing manual journals; reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for the no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, or for the opinions we have formed

Mark Cummins FCCA (Senior Statutory Auditor) For and on behalf of TC Group Statutory Auditors Office: Steyning, West Sussex

Dated: 12/06/2026

47

THE SWITCHBACK INITIATIVE

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2025

Income from:
Notes
Donations
2
Investments
3
Other trading
4
Total income
Expenditure on:
5
Raising funds
Charitable activities
Total expenditure
Net income
Transfers
16
Net movement in
funds
Fund balances at
1 January 2025
Fund balances at
31 December 2025
16		 Unrestricted
funds
£
771,548
36,403
3,839
811,790
213,570
481,130
694,700
117,090
(49,000)
68,090
705,587
773,677		 Designated
funds
£
-
-
-
-
-
-
-
-
49,000
49,000
-
49,000		 Restricted
funds
£
922,414
-
-
922,414
-
838,118
838,118
84,296
-
84,296
420,473
504,769		 Total
2025
£
1,693,962
36,403
3,839
1,734,204
213,570
1,319,248
1,532,818
201,386
-
201,386
1,126,060
1,327,446		 Total 2024
£
1,504,569
47,660
250
1,552,479
200,425
1,213,044
1,413,469
139,010
-
139,010
987,050
1,126,060

All activities are classed as continuing. There are no recognised gains or losses other than those reported on the Statement of Financial Activities.

The results for the year all relate to continuing activities.

The notes on pages 51 to 61 form part of the financial statements.

48

THE SWITCHBACK INITIATIVE

BALANCE SHEET

AS AT 31 DECEMBER 2025

Notes
Fixed assets
Tangible assets
11
Current Assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one year
13
Net current assets
Net assets
Funds
16
Unrestricted funds
Designated funds
15
Restricted funds
14
TOTAL FUNDS		 2025
£
34,104
34,104
58,321
1,283,172
1,341,493
(48,151)
1,293,342
1,327,446
773,677
49,000
504,769
1,327,446		 2024
£
37,375
37,375
39,175
1,191,309
1,230,484
(141,799)
1,088,685
1,126,060
705,587
-
420,473
1,126,060

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The accounts were approved by the Board of Trustees on …………………………….

............................................................ Gillian McMillan Treasurer

Company Registration No. 06615923

49

THE SWITCHBACK INITIATIVE

CASHFLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
Net cash provided by operating activities
18
Cash flows from investing activities:
Purchase of tangible fixed assets
11
Proceeds on disposal of tangible fixed asset
Interest on investments
3
Net cash used in investing activities
Increase in cash and cash equivalents in
the year
Cash and cash equivalents at the beginning
of the year
Cash and cash equivalents at the end of
the year		 £
(11,308)
710
36,403		 2025
£
66,058
25,805
91,863
1,191,309
1,283,172		 £
(38,107)
-
47,660		 2024
£
278,785
9,553
288,338
902,971
1,191,309
Analysis of net cash
At 1 Jan Cash flow At 31 Dec
2025 2025
£ £ £
Cash at bank and in hand 1,191,309 91,863 1,283,172

50

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1 ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of financial statements are as follows:

1.1 Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – Charities SORP (FRS 102), and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102.

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

1.2 Preparation of the accounts on a going concern basis

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income can be measured reliably.

Grants and donations are recognised when the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. In the event that such income is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Gifts in kind are included at fair value within donations.

Trading income is recognised upon delivery of the service provided.

Investment income is credited to income when it is receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

1.4 Expenditure

Expenditure is recognised on an accruals basis inclusive of any VAT which cannot be recovered.

Support costs which are not directly attributable to a specific charitable activity are allocated on a percentage basis based on staff time applied to each activity during the year. Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements. These are included within support costs.

51

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

ACCOUNTING POLICIES (continued)

1.5 Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided as the following annual rates in order to write off each asset over its estimated useful life.

Computer Equipment 33% on cost Furniture & Fittings 20% - 25% on cost

Only assets over £500 are capitalised.

1.6 Lease commitments

Operating leases and the payments made under them are charged to the Statement of Financial Activities on a straight line basis over the lease term.

1.7 Taxation

The charitable company is registered as a charity and all of its income falls within the exemptions under Part 11 of the Corporation Tax Act 2010.

1.8 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.9 Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

1.10 Debtors

Trade and other debtors are recognised at the settlement amount due.

1.11 Cash at bank and in hand

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

1.12 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

52

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

ACCOUNTING POLICIES (continued)

1.13 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The trustees do not consider that there are any critical estimates or areas of judgement that need to be brought to the attention of the readers of the financial statements.

2. DONATIONS INCOME

Donations & grants
Gift aid recovery		 Unrestricted
£
743,957
27,591
771,548		 Restricted
£
922,414
-
922,414		 2025
£
1,666,371
27,591
1,693,962		 2024
£
1,488,951
15,618
1,504,569

Included within donations & grants are gifts in kind totaling £149,756 (2024: £134,196) in relation to legal and professional fees, training sessions provided and guest speakers.

3. INVESTMENT INCOME

Deposit account interest Unrestricted
£
36,403
36,403		 Restricted
£
-
-		 2025
£
36,403
36,403		 2024
£
47,660
47,660

4. OTHER TRADING INCOME

Trading income Unrestricted
£
3,839
3,839		 Restricted
£
-
-		 2025
£
3,839
3,839		 2024
£
250
250

53

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

5. EXPENDITURE

Raising funds
Charitable activities
Activities undertaken
directly
Support costs (note 6)
Total
Total		 Depreciation
£
-
11,481
2,352
13,833
13,833		 Staff costs
£
203,081
646,538
175,921
822,459
1,025,540		 Other
costs
£
10,489
336,989
145,967
482,956
493,445		 Total 2025
£
213,570
995,008
324,240
1,319,248
1,532,818		 Total 2024
£
200,425
847,285
365,759
1,213,044
1,413,469

Included within activities undertaken directly are gifts in kind totalling £46,310 (2024: nil).

SUPPORT COSTS
Staff costs
Rent and utilities
Office costs
IT
Sundry costs
Bank charges
Recruitment
Depreciation
Events
Other support costs
Governance costs (note 7)		 2025
£
175,921
12,264
3,392
4,207
4,276
52
1,631
2,352
1,587
105,892
12,666
324,240		 2024
£
189,004
13,488
3,439
4,260
1,440
1,751
877
1,946
1,645
135,555
12,354
365,759

6. SUPPORT COSTS

Included within other support costs are gifts in kind totaling £103,446 (2024: £134,196) in relation to legal and professional fees.

7. GOVERNANCE COSTS

Auditors’ remuneration – audit fees
Trustees’ expenses		 2025
£
12,360
306
12,666		 2024
£
12,000
354
12,354

54

NOTES TO THE ACCOUNTS (CONTINUED)

THE SWITCHBACK INITIATIVE

FOR THE YEAR ENDED 31 DECEMBER 2025

8. STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVE FUNDS – YEAR ENDED 31 DECEMBER 2024

Income from:
Donations
Investments
Other trading
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income / (expenditure)
Fund balances at 1 January 2024
Fund balances at 31 December 2024		 Unrestricted
funds
£
634,425
47,660
250
682,335
200,425
416,942
617,367
64,968
640,619
705,587		 Restricted
funds
£
870,144
-
-
870,144
-
796,102
796,102
74,042
346,431
420,473		 Total 2024
£
1,504,569
47,660
250
1,552,479
200,425
1,213,004
1,413,469
139,010
987,050
1,126,060

9. TRUSTEES’ REMUNERATION AND BENEFITS

There was no trustee remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024. Trustee expenditure totaling £17 (2024: £354) was reimbursed during the year.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
892,099
94,715
38,726
1,025,540		 2024
£
863,721
78,750
39,226
981,697

55

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

10. STAFF COSTS (continued)

The average number of employees during the year was as follows:

Programme Delivery
Policy and Influencing
Other		 2025
Number
12
3
9
24		 2024
Number
11
4
10
25

The number of employees whose emoluments fell within the following bands was:

£60,000 - £69,999
£70,000 - £79,999
£80,000 - £89,999		 2025
Number
1
-
1
2		 2024
Number
1
1
-
2

Of the employees whose emoluments exceed £60,000, 2 (2024: 2) have retirement benefits accruing under defined contribution pension schemes. Pension contributions for higher paid employees in the year amounted to £7,518 (2024: £6,778).

During the year the key management personnel of the charitable company comprised of the Chief Executive, Director of Finance and Operations and the three Heads of Department. The total employee benefits of the key management personnel (including Employer’s National Insurance Contributions) were £383,948 (2024: £345,509).

56

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

11. TANGIBLE FIXED ASSETS

Cost
At 1 January 2025
Additions
Disposals
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
Eliminated on disposal
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
12.
DEBTORS – amounts falling due within one year
Trade debtors
Other debtors
Prepayments and accrued income
13.
CREDITORS - amounts falling due within one year
Trade creditors
Social security and other taxes
Accruals and deferred income
Other creditors		 Furniture
& Fittings
£
28,704
-
-
28,704
3,812
5,816
-
9,628
19,076
24,892		 Computer
Equipment
£
28,304
11,308
(960)		 Total
£
57,008
11,308
(960)
38,652 67,356
15,821
8,017
(214)		 19,633
13,833
(214)
23,624 33,252
15,028 34,104
12,483 37,375
2025
£
3,140
15,712
39,469
58,321
2025
£
2,313
25,058
15,341
5,439
48,151		 2024
£
250
4,450
34,475
39,175
2024
£
8,028
21,328
106,479
5,964
141,799

57

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

14. RESTRICTED FUNDS

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Barrow Cadbury Trust
Charles Hayward
City Bridge Foundation
City Bridge MLML
Comic Relief
Donation to Reserves
Esmée Fairbairn Foundation
Film Training 2025
The Fishmonger’s Company’s
Garfield Weston Foundation
The Henry Smith Charity
Highway One Trust
HMPPS
Land Aid Charitable Trust Limited
The National Lottery Community Fund
Mayor of London through the Propel
Collaboration
Sheriffs’ and Recorder’s Fund
The Talent Fund		 Balance at
1 January
2025
£
5,575
5,500
11,942
-
35,833
299,999
4,874
-
15,000
(3,410)
7,456
333
374
20,000
963
16,034
-
-
420,473		 Income
£
500
25,000
60,742
34,600
188,434
-
-
38,940
30,000
75,000
60,000
15,000
150,000
-
117,495
116,183
520
10,000
922,414		 Expenditure
£
6,075
26,125
62,376
22,575
162,384
-
4,874
15,634
29,234
38,257
40,950
7,167
150,374
20,000
118,458
123,115
520
10,000
838,118		 Balance at
31
December
2025
£
-
4,375
10,308
12,025
61,883
299,999
-
23,306
15,766
33,333
26,506
8,166
-
-
-
9,102
-
-
504,769

58

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

14. RESTRICTED FUNDS (CONTINUED)

Barrow Cadbury Trust - Funding towards Reshaping Resettlement for young adult prison leavers.

Charles Hayward – Providing mentoring and training inside prison and on release.

City Bridge Foundation – Funding towards the costs of Mentors and cost of supporting Trainees.

City Bridge MLML – funding towards the social activities and experiences elements of the organisation’s intensive 13-week mentoring programme.

Comic Relief – Supporting young men to live stable, rewarding lives after their release from prison.

Donation to Reserves - Restricted for use in closing down the organisation or to the sustainability of Switchback’s ethos in the justice system.

Esmée Fairbairn Foundation – Funding towards reshaping resettlement for young prisoners.

Film Training – Funding for the delivery of two film & media training programmes for Trainees.

The Fishmonger’s Company’s – Support mentoring for 18–30-year-olds returning to London after prison.

Garfield Weston Foundation - Funding towards the costs of Mentors supporting Trainees. This is a multi-year grant ending in September 2026. The grant year runs 12th September to 11th September and the next payment of funding has been received.

The Henry Smith Charity - Funding for Mentoring to change lives and reduce reoffending.

Highway One Trust – Funding towards core costs.

HMPPS - London Probation Region Grants for People from Ethnic Minority Groups.

LandAid Charitable Trust Limited – To support young prison leavers navigate post-release challenges and provide practical support.

The National Lottery Community Fund – Reaching Communities England - Funding for Mentoring to change lives and reduce reoffending.

Mayor of London through the Propel Collaboration - Provide quality mentoring to disadvantaged young Londoners.

Sheriffs’ and Recorder’s Fund – Funding towards Trainee essential items.

The Talent Fund – Funding towards the costs of our Delivery Team which works directly with our Trainees.

59

NOTES TO THE ACCOUNTS (CONTINUED)

THE SWITCHBACK INITIATIVE

FOR THE YEAR ENDED 31 DECEMBER 2025

15. DESIGNATED FUNDS

Peer-led Research
Office Relocation		 Balance at
1 January
2025
£
-
-
-		 Income
£
-
-
-		 Expenditure
£
-
-
-		 Transfer
£
24,000
25,000
49,000		 Balance at 31
December
2025
£
24,000
25,000
49,000

Peer-led Research – Allocation of £24,000 to fund the next two research chapters that will follow on from the Recall research project.

Office Relocation – Allocation of £25,000 to cover any future office move due to the break clause being activated by the landlord. £25,000 to be added annually until the end of the lease.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 December
2025 are represented by:
Fixed assets
Current assets
Creditors: amounts falling due
within one year
Fund balances at 31 December
2024 are represented by:
Fixed assets
Current assets
Creditors: amounts falling due
within one year		 Unrestricted
funds
£
34,104
787,724
(48,151)
773,677
Unrestricted
funds
£
37,375
810,011
(141,799)
705,587		 Designated
funds
£
-
49,000
-
49,000
Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
504,769
-
504,769
Restricted
funds
£
-
420,473
-
420,473		 2025
Total
£
34,104
1,341,493
(48,151)
1,327,446
2024
Total
£
37,375
1,230,484
(141,799)
1,126,060

60

THE SWITCHBACK INITIATIVE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

17. COMMITMENTS UNDER OPERATING LEASES

At 31 December 2025 the company had total commitments payable under non-cancellable operating leases as follows:

Within one year
Between two and five years		 Land and buildings
2025
£
2024
£
70,907
73,000
150,949
225,400
221,856
298,400		 Land and buildings
2025
£
2024
£
70,907
73,000
150,949
225,400
221,856
298,400
298,400

Total lease payments recognised as an expense in the year amounted to £69,985 (2024: £67,981).

18. NET CASHFLOW FROM OPERATING ACTIVITIES

Net income
Depreciation of tangible fixed assets
Loss on disposal of tangible fixed assets
Dividends and interest from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided used in operating activities		 2025
£
201,386
13,833
36
(36,403)
(19,146)
(93,648)
66,058		 2024
£
139,010
10,245
-
(47,660)
118,756
58,434
278,785

19. RELATED PARTY TRANSACTIONS

During the year to 31 December 2025 donations were received by the charity from various Trustees totaling £2,700 (2024: £2,550). The only further related party transactions relate to Trustees’ expenditure reimbursement of £17 (2024: £354) as disclosed in note 9.

20. CONTROL

The Switchback Initiative is a company limited by guarantee and has no share capital. No one member has overall control of the charity.

21. COMPANY INFORMATION

The Switchback Initiative is a charitable company, limited by guarantee, registered in England and Wales. The charitable company’s registered number and registered office address can be found on the legal and administrative information page.

61