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← The Clink Charity

2024-12-31-accounts

THE CLINK CHARITY

Limited by guarantee

Registered Charity Number 1134581 Registered Company Number 07157540 (England and Wales)

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

THE CLINK CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees & Directors

W Atkinson M Balogun (appointed 19[th] January 2024) B Ignjatovic C Juman K McGrath D Morgan H Morley N Patel F Scott (resigned 17 September 2024) D Walker

Registered Office ( to 22 June 2024)

His Majesty’s Prison High Down High Down Lane Sutton Surrey SM2 5PJ

Registered Office ( from 22 June 2024)

Units 1 &2 Bessemer Park 250 Milkwood Road London SE24 0HG

Chief Executive

D M Edmonds (Appointed 1 April 2025) Y M Thomas (Resigned 30 March 2025)

Company Secretary

J Sanderson (appointed 15 November 2024) D Whitworth (resigned 14 November 2024)

Bankers Coutts & Co 440 Strand London WC2R 0QS

Nat West 135 Bishopsgate London EC2M 3UR

Solicitors Howard Kennedy LLP No 1 London Bridge London SE 1 9BG Auditors Moore Kingston Smith LLP 9 Appold Street London EC2A 2AP

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THE CLINK CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Chair’s Statement

The past year has been one of both challenges and achievements for The Clink Charity. Despite an increasingly difficult operational landscape, including volatile prison conditions, funding constraints, and early release schemes affecting our support services, our commitment to reducing reoffending has remained unwavering.

We are immensely proud that 761 students completed training with us, achieving 671 NVQ qualifications, and that our efforts were recognized with the prestigious SME Training Provider of the Year award from the Institute of Hospitality, as well as the Lord Mayor of London’s "Heart of the City" award for social impact.

A key milestone in our journey was the opening of our first community-based training and production kitchen in South London, made possible through significant capital investment and grants. This facility, inaugurated by Lord Timpson, Minister of State for Prisons, Probation and Reducing Reoffending, will allow us to expand our social enterprise, Clink Events, and provide employment and training to more people leaving prison and those at risk of offending.

However, we have also faced difficult decisions, including the closure of projects at Buckley Hall, Thorn Cross, and HMP Highdown due to funding constraints. Additionally, delays in Ministry of Justice procurements have forced the demobilization of our Clink Kitchens programme, leading to a necessary restructuring of our operations. Despite these setbacks, we remain focused on long-term sustainability, consolidating our legal structure to streamline operations and ensure financial stability.

Our strategy moving forward is centered on reducing reliance on Ministry of Justice funding by expanding contracted services, growing our social enterprise revenues, and increasing community-based rehabilitation initiatives. The launch of a new community-based training programme working to reduce youth offending exemplifies our innovative approach to vocational training and rehabilitation.

The strength of The Clink Charity lies in its people—our dedicated team, partners, funders, and supporters who share our vision of transforming lives through education and opportunity. After three years as Chief Executive, Yvonne Thomas left the charity in March 2025, and the Trustees would like to take the opportunity to express their sincere gratitude to Yvonne for her leadership of the charity throughout a period of growth and great success. We also warmly welcome our new Chief Executive, Donna-Marie Edmonds. Our co-founding Chair, Finlay Scott, stood down in July 2024. We would like to thank him for his immense contribution to the charity. Finlay will continue his involvement with the Clink as an Honorary President.

As we move forward, we do so with a renewed commitment to delivering high-quality training, supporting rehabilitation, and creating sustainable pathways to employment. We are confident that, with the continued support of our partners and the dedication of our team, The Clink Charity will remain a leader in reducing reoffending and transforming lives.

Bojana Ignjatovic Chair, Board of Trustees The Clink Charity

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Chief Executive’s Report

The Clink Charity reduces reoffending and prevents crime through training, rehabilitation and support, lessening the burden on the prison estate. It improves public safety and builds community resilience. It increases access to educational opportunities, improving employability into an industry currently struggling to recruit. It enhances the self-esteem and personal agency of the participants of the programme, so they feel more worthy and less likely to choose criminality. In short, The Clink changes attitudes, transforms lives and creates second chances.

The year was defined by increasingly volatile conditions in prisons resulting in operational delivery challenges for the Charity. Mission delivery continued despite the difficulties of reduced funding, early prison release schemes affecting our ability to properly plan release support, and the ongoing issues around availability of accommodation for newly released graduates. Against a most challenging background, we trained 761 students who achieved 671 NVQ qualifications. Our commitment to excellence was recognized when we were once again named the SME Training Provider of the Year by the Institute of Hospitality, and we were delighted to receive the prestigious Lord Mayor of London’s “Heart of the City” award in recognition of the significant social impact we have in London.

Building on our commitment to both reduce reoffending and to supporting people at risk of offending from entering prison, we successfully raised capital investment and grants for a major new facility comprising a new training and production kitchen – our first in the community – in South London. We were delighted to welcome Lord Timpson, Minister of State for Prisons, Probation and Reducing Reoffending who opened the new building in November 2024. The facility will support the expansion of Clink Events, our social enterprise arm, and will allow us to train and employ more people leaving prison or released on temporary license (ROTL) while supporting people (including young people) at risk of offending.

Economic conditions saw us battling food cost and wage cost inflation, reduced availability of funding from the public sector and delayed and cancelled procurements from the Ministry of Justice. Consequently, we closed several projects across the prison estate, including the demobilisation of our Clink Kitchens work when the generous charitable funding came to an end, resulting in redundancies including the removal of two Director posts in the charity leadership. 407 students trained in Clink Kitchens in 2024, and 378 City & Guilds NVQs were awarded to those students, and we are proud of the impact that we had on those lives because of this project. To ensure that our future overheads and operating costs remain lean, we restructured and streamlined our legal entities, consolidating our various legal and employment entities into The Clink Charity.

Finally, our founding co-chair, Finlay Scott, stood down in July to be succeeded by Bojana Ignatovic, an experienced Clink Charity Trustee. We would like to thank Finlay for his inspirational leadership and welcome Bojana.

A strategy for the long term

Our strategy is based on ensuring we deliver against our mission whilst building a financially secure and sustainable basis for the charity. The strategy is in three parts.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Quality and Standards

The high standards achieved in 2023 continued throughout 2024. We increased the number of qualified Internal Quality Assessors and maintained our near-perfect audit performance across all our operations and sites. Having extended our formal quality standards to our Support and Mentoring service in 2023 through the attainment of Matrix accreditation, our positive annual inspection reinforced the value of our quality approach to supporting our graduates into a rehabilitated life. Our delivery of NVQs continued at the highest standards and we successfully trained selected Chef Trainer Assessors to deliver our first apprenticeships in our training restaurant in HMP Styal.

Innovation

We embarked on a ground-breaking Artificial Intelligence (AI) project supported by innovation funding from the Ministry of Justice. The project, based at HMP Huntercombe, uses a third-party proprietary AI product to generate accredited teaching materials in multiple languages. Using a range of media, we have successfully taught foreign national prisoners with little or no English to NVQ L1 standards. We will continue to develop the project through 2025, publishing a research report, to see exciting applications for technology to support the delivery of qualifications to any individual with additional challenges or needs in respect of their learning requirements.

Support and Reducing Reoffending

We supported more than 150 releases from custody in 2024. Every Clink Graduate was offered the opportunity to access support. Our support staff faced unprecedented pressures and challenges. The various prison early release schemes resulted in our students and graduates being released, often without sufficient notice or preparation. We funded emergency hotel accommodation, issued food vouchers, mobile phone cards and generally provided an emergency service to affected graduates. This had a detrimental effect on our employment outcomes as our staff were spending most of their time trying to put in place the basics of rehabilitation – a safe place to live and something to eat. We continued to track our reoffending rates, which remained low. A national trend to be noted was the significant rise in recalls to prison due in part to the pressure under which the National Probation Service finds itself. We remain concerned about this trend which has, in some cases, stopped the process of rehabilitation for our graduates.

The Clink Charity Operations

The Clink Restaurants in HMP Brixton and HMP Styal, and our staff restaurant in HMP Highdown trained 167 students, including our first two apprentices at HMP Styal. We have always aspired to the highest standards of training and delivery, and we decided to formally benchmark our standards against those of the best Hospitality Colleges in the UK by way of applying for the AA Training College Rosette assessment. In a full AA rosette assessment process, our restaurant at HMP Brixton was rated at the highest level – Highly Commended which was a fantastic tribute to our training staff and our students. We retained our Trip Advisor “Traveller’s Choice” ratings for the third year running. We hosted several high-profile events in the restaurants during the year including an evening with Sacha Lord at Styal and a celebratory 10[th] anniversary dinner at Brixton which was attended by past graduates, staff and supporters. Also, in HMP Brixton, The Clink Bakery continued to flourish in its second full year of operation. 23 students were in training during the year with 6 completing their NVQ Level 2 Patisserie qualification. Following the success of the Clink Christmas hampers in 2023, Christmas 2024 saw the bakery prepare and dispatch 350 hampers and 7,000 mince pies to happy customers.

Clink Events continued its success and growth and is now established as one of London’s “go to” event caterers offering spectacular food and event design in some of London’s most iconic venues. In 2024, Clink Events increased turnover by 26%, served 36,000 guests and added the prestigious Indigo O2 Arena and Thames Distillers venues to the portfolio. We continue to train and employ women from Downview prison in our production kitchen on site, with 25 women trained in 2024, attaining 31 City & Guilds qualifications.

We reported our intention last year to build a new production kitchen to train and employ people leaving prison and to increase our production and training capacity. We opened the new facility in August 2024 and

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

now run with two production kitchens, increased student numbers, and we have our first 6 young people who have attained their Institute of Hospitality Introduction to Events Certification. Using our new production facility, we built a business case for a new social enterprise, Catered by Clink, to serve customers who want our top-class food, but do not need full-service event catering. Catered by Clink is in a unit adjacent to our expanded training and production kitchen in a newly fitted out facility, Clink Cafe, that also houses a small, dedicated training facility aimed at helping young people at risk of custody through the provision of an innovative 12-week entry level hospitality training suite opening in 2025. Students who wish to pursue a career in hospitality will be able to access apprenticeships or NVQs following their entry level course, and our hope is that graduates will transition into our Clink Events business. The approach supports our mission, whilst delivering a diversity of funding with the first cohorts being local authority referred and financed.

The Clink Gardens in HMP Send continues to be a true flagship project supporting more than 30 women in the mainstream horticultural qualifications and continuing to work with more complex women who face additional challenges in our Plot to Plate programme. We were delighted to receive grant support this year from the Julia Rausing Foundation for a new Clink Garden to open at HMP Erlestoke in 2025, and the hope is to continue to expand the gardens projects across the prison estate.

Concluding remarks

The Clink Charity continues to evolve, pivot and look for inspirational projects to better serve our beneficiaries.

We maintain strong links with the hospitality industry, and we remain incredibly grateful for their support as employers, partners, fundraisers and friends. 2024 has seen support from all parts of the industry with, for example, several of our trainers being admitted to the Institute of Hospitality, our partnership with HIT Training gaining strength and apprenticeship partnerships with Sodexo, Ask and Compass secured. We owe particular thanks to Vic Laws, our lead Ambassador, and to The Worshipful Companies who have supported us once again this year, and all the other funders, donors, trusts and foundations who have invested their resources in sustaining our transformative offer. We are particularly grateful to the Mayor of London’s “Skills for Londoners” fund who contributed 47% of the capital sum for our new facilities, matched by support from several social investors who believed in our vision for the future of rehabilitation based on the model we have developed and refined over the last 13 years.

Donna Marie Edmonds Chief Executive June 2025

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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THE CLINK CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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THE CLINK CHARITY

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its memorandum and articles of association and constitutes a company limited by guarantee as defined by the Companies Act 2006.

Organisational structure

Trustee Board

The Charity is governed by a Board of Trustees Chaired by Finlay Scott until 15 July 2024 followed by Bojana Ignjatovic which supervises the senior leadership team (SLT), and staff headed up by the Chief Executive Officer, Yvonne Thomas until March 2025, and now Donna Marie Edmonds. The Board of Trustees meets four times each year to set and oversee the delivery of the Charity’s objectives.

On 15 July 2024 Finlay Scott stepped down from the Board and his role as Chair. This position was taken over by Bojana Ignjatovic. Finlay has chaired the Charity since it was formed in February 2010; his energy, leadership, and guidance have been instrumental in its success to date.

The Board has a clear and well-understood governance role, approving the strategy, annual budgets and reviewing the management accounts and cash flows on a quarterly basis. The Trustees ensure that risk is well understood and managed, and that the charity is operating legally and in full compliance with our charitable objectives, ethos, and values. The Board appoints and delegates the delivery of the strategy and management of the operation of the charity and its subsidiaries to the CEO, who in turn appoints and manages the ELT. ELT comprises the CEO, the Director for Training and Qualifications, the Director of Operations, and the Director of Clink Events. The ELT meets bi-weekly to review in detail all aspects of the operations including the training, support and mentoring of the beneficiaries of the Charity, as well as safeguarding, and health and safety.

There are three additional Trustees committees that meet regularly:

Trustee training and induction

Our Trustees have been carefully selected from business, education, legal, financial, and property experience. Upon appointment Trustees are given a copy of the Charity Commission document “The Essential Trustee – What you need to know” and asked to read it. They also spend time with the Chairman, CEO and ELT to familiarise themselves with the operations of the Charity to ensure that they understand the aims and the objectives of the Charity.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Risk management

The Trustee Board is responsible for the oversight of the risks faced by the Charity. The Trustee Board and Audit and Risk Committee regularly review the Charity’s risk position, internal controls assessment and compliance with relevant statutory and finance regulations. Based on the Charities Commission’s Guidance “Charity Reserves: building resilience” the Charity has a risk-management process designed to identify the major risks that could impact on the aims in the Charity’s Strategic Plan. This process identifies the major risks the Charity faces, the likelihood of occurrence, the significance of the risk, and any mitigating controls that are in place. It also seeks to identify any actions and resources required to manage these risks further.

Principal risks and uncertainties

Despite the challenges presented by the cost-of-living crisis and the pressures of the prison estate The Clink Charity continued, with the help of our partners and supporters, to deliver training during 2024. 761 students were trained across all our operations, enabling them to gain 671 qualifications.

The funding pressures saw the closure of many projects in 2024, including Clink Gardens at HMP Highdown (due to a significant change in the delivery specification). The Clink Kitchen demobilisation programme is being planned and implemented as a result the expiration of the grant funding in 2025. The government has also made the decision not to extend our contract at HMP High Down after 30 September 2025. We will therefore be demobilising from HMP High Down from this date.

Cost increases and the lack of available students at Styal have resulted in the decision not to renew the 1- year extension on our 10-year contract in Styal, which ends in September 2025. We will demobilise from Styal from this date.

We are anticipating competitive commercial bidding for the contract in Brixton from October 2026. We are currently working on operating models and partnerships to determine the best way to respond to the anticipated competitions , but our intention is to maintain our work in HMP Brixton.

As a result of a major fund-raising drive in 2023, a new production kitchen and training facility was opened during the year in South London, to support the expansion of Clink Events our social enterprise arm, which will enable the training and employment of more people leaving prison or released on temporary license (ROTL) while supporting people (including young people) at risk of offending. This will also facilitate the expansion of Clink Events in line with market demand, continuing to generate an operating surplus, thus contributing towards the cost of our training and support operations.

We were also able to secure funding in 2024 for a new social enterprise, Catered by Clink, which will serve customers within the M25 who want our top-class food, but do not need full-service event catering. We have also created the Clink Café – a small, dedicated training facility aimed at helping young people at risk of custody through the provision of an innovative 12-week entry level hospitality training suite.

New charitable funding in 2024 will enable us to open another Clink Gardens project at HMP Erlestoke in 2025.

The resettlement and support workers continue to provide both mentoring and financial support to the students up to and after their release, and of the 152 students released in 2024, 30% were helped into employment – pressure in the prison system and the early release schemes affected our employment outcome, which in on the rise again.

With all these new initiatives the Trustee Board maintains a very close relationship with the ELT to review the work of the charity, the operating plans and the budgeting processes for the current year. These reviews cover income and expenditure forecasts and cash flows. As part of these reviews the Trustees considered the viability of all existing and new operations.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Safeguarding

The Safeguarding Policy is updated annually and reviewed by a Safeguarding Committee of colleagues from across the organisation and a Trustee. All staff complete safeguarding training as part of their induction as a new starter, and staff with additional responsibilities for managing safeguarding will complete level 2 or level 3 training as appropriate. Additional training is available for those members of staff working with highrisk groups, for example those now working with the 16-25 age group in Clink Cafe. The Clink operates an open culture where safeguarding is routinely discussed across all aspects of our work and is a standing item for discussion at all Trustee Board Meetings.

Health and Safety

Fire, health & safety, food hygiene and allergen awareness are at the core of what we do, and we have engaged an external company to audit our process and procedures at all our premises on an annual basis. In addition, local Environmental Health Officers inspect our premises and currently we have 5-star ratings across all locations. Our staff are trained in Emergency First Aiders in the workplace and obtain the following qualifications: Health and Safety (Level 2 or 3), Food Hygiene (Level 2, 3 or 4) and Allergens Awareness (Level 2 or 3).

OBJECTIVES AND ACTIVITIES

Significant activities

To ensure the success of the programme, The Clink Charity has developed a five-step integrated model that could be applied across more prisons across the country and to further expand The Clink concept. The fivestep model focuses on Recruitment, Training, Supporting, Employment and Mentoring. This model has dramatically reduced the reoffending rates of those who have been part of the training programme. The Clink employs 81 full-time and part-time employees, most of these are prisoner-facing staff and undergo TAQA (Training Assessment Quality Assurance) training to ensure that the standard of training and assessing students is consistent and of the highest possible quality.

The Clink Charity’s fulltime support workers work closely with each of the prisoners in training. Upon release they help graduates find employment and they mentor them weekly for 6 to 12 months, to help them reintegrate back into society.

Public benefit statement

The Trustees confirm that they have given due consideration to Charity Commission published guidance on the operation of the Public Benefit requirement in relation to the activities of the charitable company.

Financial Review

During 2024 our income rose from £5,484,907 in 2023 to £6,576,878, as we continued to raise money from donations and grants and trading operations. The end of year results showed a surplus of £279,508 (2023: £83,929).

We were incredibly grateful to our generous supporters who continued to donate to support our work in order that we could continue to assist our beneficiaries. We were also very grateful for the support from our partners HMPPS. The Charity raised £172,733 (2023: £141,278) by way of general donations. These funds were used to help the beneficiaries with their day-to-day needs, including help with finding and paying for accommodation, uniforms and day-to-day living expenses.

As part of the review of the activities and operations of the organisation it was decided to reorganise the group and transfer the activities of The Clink Restaurant Company Ltd and Clink Trading Ltd into The Clink Charity at 1 May 2025. The Business Transfer Agreements to enable this were signed in April 2024.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Reserves Policy

Reserves are required to allow the Clink Charity to continue to operate and adjust to situations such as unforeseen increases in costs or a fall-off in income in an orderly way. These reserves need to be unrestricted (free reserves) to allow the Trustees to cover all different scenarios in line with our charitable objectives.

The Trustees consider that the ideal level of reserves as of 31 December 2024 would be 2 months charitable expenditure, c. £575k , which excludes direct costs which would not be incurred in the event of income or operational shocks and and expenditures associated with Clink Events, our social enterprise. The Trustees believe that reserves of this level allow time to develop new sources of income or to cut-back on related expenditure.

At the end of 2024, the group had total reserves of £1,705,867 of which £483,053 represents restricted funds. Unrestricted funds of £1,222,814 are largely invested within fixed assets of £1,579,358 and as such the group had a free reserve of £nil (2023 was £338,278).

This reduction in free reserves reflects the decisions taken by the Trustees to implement our strategy of reducing reliance on Ministry of Justice funding and expanding contracted services, growing social enterprise revenues and increasing community-based rehabilitation initiative in pursuit of delivery our charitable objectives. This has meant the closure of projects, consolidating our legal structure and restructuring our operations. We have also increased our work with our generous donors to raise funding for key work and projects to deliver the strategy.

During 2024 this began to bear fruit, with events operations contributing to an increase in income of £706k and capital funding raised for a new leasehold property at Bessemer Park of £418k.

Going forward we expect to continue to focus our efforts on reducing costs through targeting our limited resources where they deliver the highest impact. To that end, as noted in the Post Balance Sheet Events note 18, we sadly closed the HMP Styal restaurant. Our work with our generous donors also led to agreement to transfer a share of our grant income from restricted to unrestricted funding.

We are also growing our events activities so that they can support a significant number of Clink graduates and students, whilst at the same time generating income to be applied to delivering our charitable objectives. The Trustees will seek to grow our reserves to the policy level over the coming four years.

Our consolidated balance sheet remains positive, with net current assets of £841,647 and total net assets of £1,705,867. The Trustees have reviewed the circumstances of the Clink Charity and group and consider that adequate resources continue to be available to fund the activities of the group for the foreseeable future. The Trustees are of the view that charity and group are a going concern.

Fund-raising methods and processes

The Charity has always depended on the generosity and support of various grant giving trusts, foundations, companies, and philanthropic individuals to build and fund the projects. No external fundraisers are used. The charity is signed up to the Fundraising Regulator and we comply with their high standards of process. The charity had a successful year raising funds for specific projects and core costs. Once a specific project is identified, a proposal is prepared and sent to the organisation (usually grant giving trusts) which has expressed an interest. In the case of capital projects, no work is started until all funding has been secured and the Board has approved it.

Once a grant has been received, we work with the donor to ensure that they have all the information that they require to monitor the impact that their donation has achieved. This usually means a report that is required under their grant giving due diligence together with regular updates that may concern the charity in general or their donation. During this year, the CEO has remained in close contact with all our generous partners, keeping them updated on the work of the charity and stressing the importance of their valuable contribution to our work.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

In 2024 the Charity raised £172,733 (2023: £141,278) from individual donations and £2,394,383 (2023: £2,003,167) from Grants. In addition, over £55,000 was raised from our various fund-raising events (Annual Ball, Golf Day and Clink at the Canalside).

The Clink is now an established Charity and has a loyal group of funders and charitable trusts, all of whom carry out periodic due diligence checks. The Board is confident that the continuing capital that is required to roll out current and future plans will be funded by them.

There are a great many kind individuals who have donated to our work either directly, via CAF, Charites Trust, Stewardship or online via Just Giving, Amazon Smiles, Donr, and we are extremely grateful for their generosity and support. We would also like to thank all the Charitable Trusts and Corporate Funders that have supported our work this year, we highlight here the donations from those who are happy to be named, and who have kindly contributed £2,000 or more during 2024:

Antonio Carluccio Foundation Blyth Charitable Trust Capsticks Community Grant Fund Caroline Grange Charitable Giving HSBC Charitable Giving Foundation John Armitage Charitable Trust Robbie McIndoe on behalf of Late Anthony Skyrme Sharegift St Aldhem’s Swire Charitable Trust Stewardship The Big Give The Greater London Authority The Innholders Charitable Foundation The Julia & Hans Rausing Trust The Savoy Education Trust The Worshipful Company of Cooks Vincent Holmes Ltd William Brake Charitable Trust

The work of the charity not only changes lives of the Clink graduates but also their families and friends as well as making society a safer place and saving the taxpayers money.

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of Trustees' responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and the group and of the income and expenditure of the charitable group for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records that 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 and the Charities Act 2011, the Charity (Accounts and Report) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In as far as the trustees are aware:

On behalf of the Board

Bojana Ignjatovic Chair, Board of Trustees The Clink Charity

16 July 2025

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THE CLINK CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE CLINK CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of The Clink Charity for the year ended 31[st] December 2024 which comprise the Consolidated Statement of Financial Activities incorporating an Income and Expenditure Account, the Group and Parent Charitable Company Balance Sheets, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

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

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE CLINK CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024

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

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

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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THE CLINK CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE CLINK CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024

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

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

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

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

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

16

THE CLINK CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS AND TRUSTEES OF THE CLINK CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024

Our approach was as follows:

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

Use of our report

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

Shivani Kothari (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

24 July 2025

9 Appold Street London EC2A 2AP

17

THE CLINK CHARITY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

INCOME AND EXPENDITURE Unrestricted Restricted Total Total
Note Funds Funds 2024 2023
£ £ £ £
Income
Income from raising funds 2, 3 475,030 2,531,383 3,006,413 2,260,488
Income from Charitable Activities 5 3,788,893 - 3,788,893 3,180,210
Income from investments 4 63,571 - 63,571 44,209
Total income 4,327,494 2,531,383 6,858,877 5,484,907
Expenditure
Expenditure on raising funds 6 61,709 - 61,709 53,970
Expenditure on Charitable Activities
Primary purpose trading, training and mentoring 6 3,884,302 1,702,715 5,587,017 5,242,626
Other charitable expenditure 6 644,895 3,749 648,644 104,382
Total expenditure 6 4,590,906 1,706,464 6,297,370 5,400,978
Net income / (expenditure) for the year (263,412) 824,919 561,507 83,929
Gross transfers between funds 13 853,218 (853,218) - -
Net movements in funds 589,806 (28,299) 561,507 83,929
Funds brought forward 19 633,008 511,352 1,144,360 1,060,431
Funds carried forward 1,222,814 483,053 1,705,867 1,144,360

All amounts derive from continuing activities.

The charitable company has no recognised gains or losses other than the net income for the year.

The accompanying notes form part of these financial statements.

18

THE CLINK CHARITY

CONSOLIDATED AND CHARITY BALANCE SHEETS FOR THE YEAR ENDED 31 DECEMBER 2024

Group Group Charity
2024 2023 2024 2023
Note £ £ £ £
Fixed assets
Fixed Assets 8 1,579,358 294,730 1,579,358 -
Investments 9 - - 2 2
1,579,358 294,730 1,579,360 2
Current assets
Stock 81,615 48,551 81,615 -
Debtors 10 771,548 465,674 771,548 20,301
Cash at bank 1,557,387 3,421,309 1,545,184 3,173,751
2,410,549 3,935,534 2,398,346 3,194,052
Creditors: amounts falling due within
one year 11 (1,569,082) (2,761,154.00) (1,946,179) (2,225,841)
Net current assets 841,467 1,174,380 452,167 968,211
Creditors: amounts falling due within
more than one year 12 (714,957) (324,750) (714,957) (324,750)
Net assets 1,705,867 1,144,360 1,316,570 643,463
Funds
Unrestricted funds 13 1,222,814 633,008 833,517 132,111
Restricted funds 13 483,053 511,352 483,053 511,352
1,705,867 1,144,360 1,316,570 643,463

The surplus for the financial year dealt with in the financial statements of the parent charity totalled £673,107 (2023: £82,162)

The accompanying notes form part of these financial statements.

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

On behalf of the Board

Bojana Ignjatovic - Chair

Date: 16/07/2025

Company registration number: 07157540

19

THE CLINK CHARITY

CONSOLIDATED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

Note 2024 2023
£ £
Cash flows from operating activities:
Net cash provided by / (used in) operating activities 16 (892,084) 613,706
Cash flows from investing activities:
Interest receivable 4 63,571 44,209
Acquisition of property, plant and equipment 8 (1,452,983) (22,316)
Disposal Proceed 14,699 -
Net cash provided by / (used in) investing activities (1,374,713) 21,893
Cash flows from financing activities:
Cash inflows from new borrowing 375,000 114,750
Cash from Leasing 27,875 -
Net cash provided by financing activities 402,875 114,750
Change in cash and cash equivalents in the reporting period Change in cash and cash equivalents in the reporting period (1,863,922) 750,349
Cash and cash equivalents at the beginning of the reporting period 3,421,309 2,670,960
Cash and cash equivalents at the end of the reporting period Cash and cash equivalents at the end of the reporting period 1,557,387 3,421,309
Analysis of Cash and Cash Equivalents
2024 2023
£ £
Cash at bank 166,884 311,407
Short Term & Immediate Notice deposits 1,390,503 3,109,902
Total cash and cash equivalents 1,557,387 3,421,309
Analysis of Changes in debt
1 Jan 2024 Cashflows Other
movements		 31 Dec 2024
£ £ £ £
Cash at bank 3,306,559 (2,238,922) - 1,067,637
Loans falling due within one year - - 38,647 38,647
Loans falling due after more than one year 114,750 375,000 (38,647) 451,103
3,421,309 (1,863,922) - 1,557,387

20

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 ACCOUNTING POLICIES

Accounting Convention

The financial statements are prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The charitable company is a public benefit entity for the purpose of FRS102 and therefore the charity and group's financial statements have been prepared in accordance with Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic or Ireland (the FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.

The financial statements have been prepared on a going concern basis which assumes the charitable group will continue in operational existence for the foreseeable future.

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. During 2023 it was decided that the charity should seek new income streams and therefore opportunities were looked for within the HMPPS Dynamic Procurement System and following success with a number of bids we were awarded contracts to deliver new projects. Building on this success in 2024, the charity is working towards becoming a supporting provider in the delivery of the new Prison Education Services (PES) contracts. In addition during 2023 the charity sought to gain accreditation in becoming an apprenticeship provider, following the award of the accreditation in 2024 we are now training apprentices in our restaurant at HMP Styal.

As part of the review of the activities and operations of the organisation it was decided to reorganise the group and transfer the activities of The Clink Restaurant Company Ltd and Clink Trading Ltd into The Clink Charity. The Business Transfer Agreements to enable this were signed in April 2024.

The trustees have reviewed the organisation's forecast income, expenditure and cashflow projections for the going concern period and have concluded that the charitable group has adequate resources to meet its liabilities as they fall due and will continue in operational existence for at least 12 months from the date of signing these accounts. Accordingly, the financial statements are presented on a going concern basis.

These financial statements consolidate the results of the charitable company and its wholly owned subsidiaries The Clink Restaurant Company Limited, Clink Trading Limited and The Clink Cafe Charity. A separate statement of financial activities is not presented for the charity itself as it has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006.

Income

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is at the following annual rates to write off each asset over its estimated useful life:

Leasehold 14.5 years Over the lenth of the lease
Plant and machinery 10% per annum
Fixtures and fittings 20% per annum
Motor vehicles 20% per annum
Computer equipment 20% per annum
Website 33% per annum

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure items.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method

Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

21

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at the amount receivable and subsequently adjusted for any impairment or other change in consideration expected to be received on settlement

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies, are initially measured at the amount payable and subsequently adjusted for any changes in consideration expected to be paid on settlement.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

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

Critical accounting estimates and areas of judgement

In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements.

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

22

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2 VOLUNTARY INCOME

VOLUNTARY INCOME
Unrestricted Restricted 2024 2023
£ £ £ £
Donations 168,272 - 168,272 135,082
Gift aid 4,461 - 4,461 6,196
Grants 145,000 2,531,383 2,676,383 2,003,167
317,733 2,531,383 2,849,116 2,144,445

Of total voluntary income reported above £317,733 are attributable to unrestricted funds (2023: £146,278) and £2,531,383 attributable to restricted funds (2023: £1,998,167)

Grants included in the above are as follows:

2023 Unrestricted Restricted 2024 2023
£ £ £ £
Rausing Foundation - 1,420,940 1,420,940 1,458,527
The Innholders' Charitable Foundation - 30,000 30,000 30,000
Wendy Osorio - 35,000 35,000 -
The Worshipful Company of Cooks - 20,000 20,000 20,000
Savoy Education Trust - 93,140 93,140 40,140
Antonio Carluccio Foundation - 35,000 35,000 35,000
Garfield Weston Foundation - - - 250,000
Lewis Family Trust - - - 20,000
Thrive Together (SIB) Ltd - - - 37,500
Stewardship - 48,000 48,000 98,000
Office of the Police and Crime Commissioner for
Surrey (currently Surrey Police) - - - 9,000
St Aldhem - 10,000 10,000 -
Swire Charitable Trust - 40,000 40,000 -
Julia Rausing - 102,000 102,000 -
Brake Foundation 5,000 - 5,000 5,000
Blyth Charitable Trust 20,000 - 20,000 -
John Artmitage Charitable trust 120,000 - 120,000 -
GLA - 620,067 620,067 -
HSBC - 50,000 50,000 -
Other small grant - 27,236 27,236 -
Total Grant Income 145,000 2,531,383 2,676,383 2,003,167
2023 Total Grant Income 5,000 1,998,167 2,003,167
3 OTHER FUNDRAISING ACTIVITIES 2024 2023
£ £
Fundraising events 157,298 116,043
157,298 116,043
All fundraising events income is attributable to unrestricted funds
4 INVESTMENT INCOME 2024 2023
£ £
Rental income - -
Interest receivable 63,571 44,209
63,571 44,209

Investment income totalling £63,571 are attributable to unrestricted funds (2023: £44,209)

23

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

5 INCOME FROM CHARITABLE ACTIVITIES 2024 2023
£ £
Income from restaurant sales 649,497 546,552
Income from training restaurants - training income 537,538 631,545
Income from events catering - events income 2,580,671 1,874,583
Other charitable income - other income 21,187 127,530
3,788,893 3,180,210

Incoming resources from charitable activities totalling £3,788,893 are attributable to unrestricted funds (2023: £3,180,210)

6 ANALYSIS OF EXPENDITURE

Staff Direct Support Total
2024 costs costs costs 2024
(Note 7) (Note 6a)
£ £ £ £
Expenditure on raising funds:
Expenditure on raising donations 18,691 36,872 6,146 61,709
Charitable activities:
General charitable activties 488,132 - 160,513 648,644
Restaurant operation, training and mentoring 2,226,106 290,226 732,012 3,248,344
Events operation, training and mentoring 853,869 1,204,026 280,778 2,338,673
Total expenditure 3,586,797 1,531,124 1,179,449 6,297,370

Total expenditure reported above is comprised of £4,590,906 attributable to unrestricted funds (2023: £3,733,501) and £1,706,464 attributable to restricted funds (2023: £1,667,477)

COMPARATIVE INFORMATION: ANALYSIS OF EXPENDITURE FOR YEAR ENDED 31 DECEMBER 2023

Staff Direct Support Total
2023 costs costs costs 2023
(Note 7) (Note 6a)
£ £ £ £
Expenditure on raising funds:
Expenditure on raising donations 16,847 31,462 5,661 53,970
Charitable activities:
General charitable activties 78,130 - 26,252 104,382
Restaurant operation, training and mentoring 2,365,187 364,503 794,724 3,524,414
Events operation, training and mentoring 621,048 888,486 208,678 1,718,212
Total expenditure 3,081,212 1,284,451 1,035,315 5,400,978
**6a ** Analysis of Support Costs Total Total
2024 2023
£ £
General expenses 715,589 649,098
Information technology & Computer Costs 80,622 60,933
Marketing & Website costs 37,160 20,905
Insurance 38,834 35,004
Bank charges 16,218 5,772
Depreciation 133,787 133,953
Irrecoverable VAT (9,099) 2,592
Governance Costs(6b) 166,339 127,058
1,179,449 1,035,315

24

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

**6b ** Governance costs Total Total
2024 2023
£ £
Trustees Expenses - -
Audit fees(i) 49,212 38,033
Legal & professional fees 2,432 2,935
Other professional fees 114,695 86,090
166,339 127,058
Total Total
2024 2023
(i) Audit fees analysis £ £
Audit fees - Current year 28,785 29,635
- prior year (over) / under accrual 5,212 (11,976)
Accounts preparation Fees - Current year 4,950 4,825
Taxation services Fees - Current year 2,640 2,450
Other Non-audit services- Current year 7,625 13,099
49,212 38,033
7 STAFF COSTS Restated
2024 2023
£ £
Wages and Salaries
Social Security contributions 3,189,924 2,747,361
Pension contributions 310,310 260,413
86,563 73,438
3,586,797 3,081,212
The average number of employees in the year was 81 (2023: 92) The average number of employees in the year was 81 (2023: 92)
Staff costs allocated within expenditure as:
2024 2023
£ £
Expenditure on raising funds
Charitable activities 18,691 16,847
3,568,107 3,064,365
3,586,797 3,081,212
Staff costs shown above is inclusive of:
Employee redundancy and non-contractual termination payments of £84,339 (2023: £58,779) made during the year.
Employees paid over £60,000 fell into the following bands: 2024 2023
£120,000 - £130,000 1 -
£90,000 - £100,000 - 1
£80,000 - £90,000 2 -
£70,000 - £80,000 2 1
£60,000 - £70,000 - 2

Pension contributions for the higher paid employees amounted to £13,440 (2023: £12,427) during the year.

No Trustees were paid any remuneration during the current or previos year. Trustees were reimbursed expenses totalling £Nil (2023: £nil).

25

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8 TANGIBLE FIXED ASSETS (GROUP)

Leasehold Plant & Fixtures & Motor Office
Property Machinery Fittings Vehicles Equipment Total
£ £ £ £ £ £
Cost
At 1 January 2023 - 479,123 835,480 76,684 28,017 1,419,304
Asset recategoristion 2,088 (2,088) - - - -
Additions 1,149,397 229,711 8,187 29,995 35,693 1,452,983
Disposals - (58,257) (40,438) - (19,624) (118,319)
At 31 December 2024 1,151,485 648,489 803,229 106,679 44,086 2,753,968
Depreciation
At 1 January 2023 - 297,516 769,458 30,225 27,375 1,124,574
Asset recategoristion 1,549 (1,549) - - - -
Disposals - (25,001) (39,125) - (19,624) (83,750)
Charge for year 27,379 48,573 40,141 14,830 2,863 133,787
At 31 December 2024 28,928 319,539 770,474 45,055 10,614 1,174,610
Net Book Value
At 31 December 2024 1,122,557 328,950 32,755 61,624 33,472 1,579,358
At 31 December 2023 - 181,607 66,022 46,459 642 294,730
TANGIBLE FIXED ASSETS (CHARITY) TANGIBLE FIXED ASSETS (CHARITY)
Leasehold Plant & Fixtures & Motor Office
Property Machinery Fittings Vehicles Equipment Total
£ £ £ £ £ £
Cost
At 1 January 2023 - - - - - -
Assets transferred from
subsidiaries		 - 494,351 835,482 76,684 28,017 1,434,534
Asset recategoristion 2,088 (2,088) - - - -
Additions 1,149,397 214,483 8,185 29,995 35,693 1,437,753
Disposals - (58,257) (40,438) - (19,624) (118,319)
At 31 December 2024 1,151,485 648,489 803,229 106,679 44,086 2,753,968
Depreciation
At 1 January 2023 - - - - - -
Assets transferred from
subsidiaries		 - 311,370 783,170 33,332 27,434 1,155,306
Asset recategoristion 1,549 (1,549) - - - -
Disposals - (25,001) (39,125) - (19,624) (83,750)
Charge for year 27,379 34,719 26,429 11,723 2,804 103,054
At 31 December 2024 28,928 319,539 770,474 45,055 10,614 1,174,610
Net Book Value
At 31 December 2024 1,122,557 328,950 32,755 61,624 33,472 1,579,358
At 31 December 2023 - - - - - -

26

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

INTANGIBLE FIXED ASSETS (CHARITY & GROUP)

Website
£
Cost
At 1 January 2024 3,825
Additions -
Disposals (3,825)
At 31 December 2024 -
Depreciation
At 1 January 2024 3,825
Charge for year -
Disposals (3,825)
At 31 December 2024 -
Net Book Value
At 31 December 2024 -
At 31 December 2023 -

9 FIXED ASSET INVESTMENTS

The Clink Charity owns the whole of the share capital of The Clink Trading Limited, a company registered in England and Wales (company number 9926424, registered office 1 London Bridge, London SE1 9BG). The Clink Trading Company operates the events catering in fulfilment of the charity's charitable purpose.

The Clink Charity also owns the whole of the share capital of The Clink Restaurant Company Limited, a company registered in England and Wales (company number 7092125, registered office 1 London Bridge, London SE1 9BG)). The Clink Restaurant Company operates the restaurants in fulfilment of the charity's charitable purpose.

The Clink Charity is sole member of The Clink Café Charity, a charitable incorporated organisation “CIO” (charity number 1180942 company number CE015766, register office 1 London Bridge, London SE1 9BG) which operates a café in central Manchester. The Clink Café Charity has ceased trading as at 31 December 2020.

The Clink Charity also owns the whole of the share capital of the following dormant subsidiaries

Entity Name Company Registration No.
The Clink Bakery Ltd 12161670 100% wholly owned subsidiary (dorrmant)
The Clink Café Ltd 12710775 100% wholly owned subsidiary (dorrmant)
The Clink College Ltd 12704773 100% wholly owned subsidiary (dorrmant)
The Clink Events Ltd 12161627 100% wholly owned subsidiary (dorrmant)
The Clink Gardens Ltd 12704769 100% wholly owned subsidiary (dorrmant)
The Clink Training Ltd 12161764 100% wholly owned subsidiary (dorrmant)
The Clink Kitchens Ltd 12165242 100% wholly owned subsidiary (dorrmant)
The Clink and Collect Ltd 12711813 100% wholly owned subsidiary (dorrmant)
The Clink at Home Ltd 13161527 100% wholly owned subsidiary (dorrmant)
Catered by Clink Ltd 15755872 100% wholly owned subsidiary (dorrmant)

All activities have been consolidated in the Statement of Financial Activities on a line by line basis. A summary of the results of the subsidiary are shown below.

27

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9 FIXED ASSET INVESTMENTS (cont)

Restaurant Restaurant Trading Trading
2024 2023 2024 2023
£ £ £ £
Turnover 1,052,495 3,267,308 569,845 1,883,232
Cost of sales (874,303) (2,431,703) (456,414) (1,437,505)
Gross profit 178,192 835,605 113,431 445,727
Administrative expenses (291,998) (1,135,086) (89,201) (264,597)
(113,806) (299,481) 24,230 181,130
Other operating income 25,315 120,117 16,867 -
Operating (loss) / profit (88,491) (179,364) 41,097 181,130
Distributions to parent (64,200) - - -
(Loss) / Profit for the year (152,691) (179,364) 41,097 181,130
Assets 1 394,588 390,879 695,137
Liabilities - (241,896) (1,576) (346,930)
Net Assets / (liabilities) 1 152,692 389,303 348,207
DEBTORS
Group Group Charity
2024 2023 2024 2023
£ £ £ £
Trade debtors 244,652 261,362 244,652 3,900
Prepayments & Accrued Income 475,388 53,313 475,388 -
Other debtors 51,508 150,999 51,508 16,401
771,548 465,674 771,548 20,301
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group Group Charity
2024 2023 2024 2023
£ £ £ £
Loans payable 38,647 - 38,647 -
Trade creditors 322,664 201,048 321,088 6,906
Taxation and social security 115,608 168,169 116,628 2,435
Lease liability payable 27,873 - 27,873 -
Accruals 138,684 77,880 138,684 14,000
Deferred income (11a) 852,662 2,262,588 852,662 2,194,980
Other creditors 72,943 51,469 72,939 431
Due to subsidiary undertakings - - 377,657 7,089
1,569,082 2,761,154 1,946,179 2,225,841

10 DEBTORS

11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

The deferred income balance of £852,662 (2023: £2,194,980) in the charity comprises income from ticket sales, fundraising and sponsorship for the Clink Ball totalling £97,388 (2023: £18,765) and Clink Kitchens Project Funding received from The Julia and Hans Rausing Trust totalling £755,275 (2023: £2,176,2159) which is subject to certain matched funding conditions. The group deferred income balance further includes £Nil (2023: £67,608) for events taking place in 2025.

28

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

11a Deferred income Analysis

Deferred income Analysis
Group Group Charity
2024 2023 2024 2023
£ £ £ £
Deferred income at 1 January 2,262,588 1,680,864 2,194,980 1,643,709
Deferred income released in the year (2,262,588) (1,680,864) (2,194,980) (1,643,709)
Income received in advance 852,662 2,262,588 852,662 2,194,980
Deferred income at 31 December (note 11) 852,662 2,262,588 852,662 2,194,980

12 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group Group
2024 2023 2024 2023
£ £ £ £
Loans payable 12a 451,103 114,750 451,103 114,750
Repayable grant 210,000 210,000 210,000 210,000
Lease liability payable 53,854 - 53,854 -
714,957 324,750 714,957 324,750

The Rank Foundation have provided a repayable grant of £210,000 to the charity at a 0% interest rate with no early repayment clause. The trustees of the Rank Foundation have agreed to extend the repayment date from September 2022 to December 2026.

The Treebeard Trust have provided a loan of £75,000 under a Social Funding Agreement to the charity at a 5% interest rate payable annually from the 1st anniversary of the loan. The principal amount is repayable in three equal amounts on the fourth, fifth and sixth anniversary of the loan.

The Barrow Cadbury Trust have provided a loan of £250,000 under a Social Funding Agreement to the charity at a 5% interest rate payable annually from the 1st anniversary of the loan. The principal amount is repayable in full on the sixth anniversary of the loan.

The Thrive Together Loan and Fredricks Foundation Agreement terms are explained in note 12a

12a LOANS PAYABLE (GROUP & CHARITY )

Loans payable includes £114,750 Thrive together fund loan repayable to Social Investment Business Bank and £50,000 Revenue Participation Agreement with Fredricks Foundation.

The Thrive together fund loan terms includes an annual interest charge payment of 7.5% commencing in February 2024 and capital repayments commencing in February 2025.

The Fredrick Foundation agreement stipulates a payment of 0.8% of the sales income generated by the Events division to a maximum of £60,000, payable on a quarterly basis from the first anniversary of the loan.

Capital repayments are due as follows:

Group Charity
2024 2023 2024 2023
£ £ £ £
0 - 1 year 0 - 1 year 38,647 - 38,647 -
2 - 5 years 2 - 5 years 123,843 86,148 123,843 86,148
5 years + 5 years + 327,261 28,602 327,261 28,602
489,752 114,750 489,752 114,750

29

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13 GROUP - RECONCILIATION OF MOVEMENTS IN TOTAL FUNDS

Brought Carried
2024 Forward Income Expenditure Transfers Forward
£ £ £ £ £
Unrestricted funds
General funds 1,460,816 559,789 (706,604) (91,186) 1,222,814
Trading funds (827,808) 3,767,706 (3,884,302) 944,404 -
Total Unrestricted Funds 633,008 4,327,495 (4,590,906) 853,218 1,222,814
Restricted funds
The Julia and Hans Rausing Trust 157,378 1,420,940 (1,448,114) 54,349 184,553
**** The Innholders' Charitable Foundation 7,500 30,000 (30,000) - 7,500
Wendy Osorio - 35,000 - - 35,000
The Worshipful Company of Cooks 15,498 20,000 (22,165) - 13,333
Savoy Education Trust - 93,140 (40,140) - 53,000
Antonio Carluccio Foundation - 35,000 (14,583) - 20,417
Garfield Weston Foundation 250,000 - - (250,000) -
Lewis Family Trust 3,749 - (3,749) - -
Thrive Together (SIB) Ltd 37,500 - - (37,500) -
Stewardship 39,727 48,000 (62,977) - 24,750
St Aldhem - 10,000 (7,500) - 2,500
Swire Charitable Trust - 40,000 - - 40,000
Julia Rausing - 102,000 - - 102,000
The Greater London Authority - 620,067 - (620,067) -
HSBC - 50,000 (50,000) -
Other small grant - 27,236 (27,236) - -
Total Restricted Funds 511,352 2,531,383 (1,706,464) (853,218) 483,053
Total Funds 1,144,360 6,858,878 (6,297,370) - 1,705,867

Trading Funds - unrestricted funds held related to trading activities within Clink subsidiairies; transfer of £944k from Trading Fund unrestricted reserves to General unrestricted reserves is reflects decision made to transfer trading activities into the charity in line with the Business Transfer Agreement (see note 15).

COMPARATIVE INFORMATION: GROUP - RECONCILIATION OF MOVEMENTS IN TOTAL FUNDS YEAR ENDED 31 DECEMBER 2023

Brought Carried
2023 Forward Income Expenditure Transfers Forward
£ £ £ £ £
Unrestricted funds
General funds 1,551,872 216,160 (464,688) 157,472 1,460,816
Trading funds (829,575) 3,270,580 (3,268,813) - (827,808)
Total Unrestricted Funds 722,297 3,486,740 (3,733,501) 157,472 633,008
Restricted funds
The Innholders' Charitable Foundation 3,717 30,000 (26,217) - 7,500
Wendy Osorio 33,500 - (33,500) - -
Savoy Education Trust - 40,140 (40,140) - -
The Julia and Hans Rausing Trust 246,375 1,458,527 (1,390,052) (157,472) 157,378
Antonio Carluccio Foundation - 35,000 (35,000) - -
The Fishmongers' Company 9,000 - (9,000) - -
Garfield Weston Foundation - 250,000 - - 250,000
Thrive Together (SIB) Ltd - 37,500 - - 37,500
Stewardship - 98,000 (58,273) - 39,727
Office of the Police and Crime Commissioner f - 9,000 (9,000) - -
Borrows Charitable Trust COVID19 - - - - -
COVID19 Graduate Support fund 6,848 - (6,848) - -
Total Restricted Funds 338,134 1,998,167 (1,667,477) (157,472) 511,352
Total Funds 1,060,431 5,484,907 (5,400,978) - 1,144,360

30

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13 RECONCILIATION OF MOVEMENTS IN TOTAL FUNDS (CONTINUED)

The Innholders' Charitable Foundation provides for mentoring and support for HMP Brixton restaurant. All the funds were utilised during the year 2024

Wendy Osorio provides funding for graduate support costs in the Clink College. This will be utilised during the financial year 2025

The Worshipful Company of Cooks provides funding for sous chef / chef trainer mentor at HMP Highdown and HMP Brixton. A portion of the funds are being carried forward to the financial tyear 2025

Savoy Educational Trus t funding towards the costs of a Bakery Chef Trainer (£40.1k) utilised in the year 2024 at HMP Brixton. An amount of £53.0k is to be utilised towards a trainer and support costs at the Clink College during the financial year 2025

Antonio Carluccio Foundation provides funding, equally, for a chef trainer at HMP Brixton and towards the The Events environment. A portion of the funds are being carried forward to the financial tyear 2025

Garfield Weston and Thrive Together (SIB Ltd) provided Capital funding for the Events expansion project costs at Bessmer Park. All the funds were utilised during the year 2024

The Lewis Family Trust provided funding for Support Workers (Cardiff and Styal). All the funds were utilised during the year 2024

Thrive Together (SIB) Ltd provided funding for legal expenses for the Events expansion project costs at Bessmer Park. All the funds were utilised during the year 2024

Stewardship provides funding for both Event expansion expenses and Marketing resource for Charity. Total expenditure of £63.0k was incurred during the year. A portion of the funds are being carried forward to the financial tyear 2025

St Aldhem provided Capital funding for the HMP Send glasshouse. A portion of the funds are being carried forward to the financial tyear 2025

Swire Charitable Trust provided funds to be utilised equally in Catered by Clink and Clink College. This will be utilised during the financial year 2025

Julia Rausing provided funding partly toward HMP Send Gardens (£21.0k) and the HMP Earlestoke Gardens (£81.0k) projects. This will be utilised during the financial year 2025

The Greater London Authority provided Capital funding for the Events expansion project costs at Bessmer Park. Amounts transferred to general unrestricted reserves of reflect total amounts capitalised during the year met by funding provided.

HSBC provided Capital funding for the Events expansion project costs at Bessmer Park. All the funds were utilised during the year 2024

The Julia and Han Rausing Trust funds continue to fund the operations of the Clinks Kitchens Project; Clink Kitchens is closing in 2025. During the period of demobilisation, the grant funders have de-restricted the funds utilised in the continued support of the graduates exiting the programmes and leaving prisons

14 GROUP - ALLOCATION OF NET ASSETS

Fixed Current Curent Non Current 2024
Assets Assets Liabilities Liabilities Total
£ £ £ £ £
General fund 1,579,358 1,927,496 (1,569,082) (714,957) 1,222,814
Restricted Funds - 483,053 - - 483,053
1,579,358 2,410,549 (1,569,082) (714,957) 1,705,867
Fixed Current Curent Non Current 2023
Assets Assets Liabilities Liabilities Total
£ £ £ £ £
General fund - 2,682,700 (897,134) (324,750) 1,460,816
Trading funds 294,730 741,482 (1,864,020) - (827,808)
Restricted Funds - 511,352 - - 511,352
294,730 3,935,534 (2,761,154) (324,750) 1,144,360

31

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14a CHARITY - ALLOCATION OF NET ASSETS

Fixed Current Curent Non Current 2024
Assets Assets Liabilities Liabilities Total
£ £ £ £ £
General fund 1,579,360 1,915,293 (1,946,179) (714,957) 833,517
Restricted Funds - 483,053 - - 483,053
1,579,360 2,398,346 (1,946,179) (714,957) 1,316,570
Fixed Current Curent Non Current 2023
Assets Assets Liabilities Liabilities Total
£ £ £ £ £
General fund 2 2,682,700 (2,225,841) (324,750) 132,111
Restricted Funds - 511,352 - - 511,352
2 3,194,052 (2,225,841) (324,750) 643,463

15 RELATED PARTY TRANSACTIONS

Donations received from trustees in the year amounted to £1,300 (2023: £4,000)

During the year, The Clink Charity provided grants of £636,891 to The Clink Restaurant Company Limited (2023: £2,000,076). Included in the balance sheet for the charity is a balance of £NIL (2023: £7,089) due from The Clink Restaurant Company Limited. Interest of £NIL was charged on the loan balance (2023: £NIL) .

During the year, The Clink Charity provided grants of £Nil to Clink Trading Limited (2023: £NIL) . Included in the balance sheet for the charity is a balance of £377,457 (2023: £NIL) due to Clink Trading Limited. Interest of £NIL was charged on the loan balance (2023: £NIL) .

Following a review of the production capacity of the Clink Events operations it was decided that a new production and training facility should be opened outside of a prison thus enabling not only additional production capacity but also additional training opportunities for those leaving prison. Following a significant fund raising drive the charity has received both grant and social investment support to enable this significant capital project which will open in June 2024. This will enable Clink Events to expand in line with our market demand and which will continue to generate an operating surplus thus contributing towards the cost of the charity’s training and support operations.

As part of the review of the activities and operations of the organisation it was decided to reorganise the group and transfer the activities of The Clink Restaurant Company Ltd and Clink Trading Ltd into The Clink Charity. The Business Transfer Agreements to enable this were signed and effective as at April 2024 and the assets of the trading subsidiaries were transferred to The Clink Charity in May 2024 including tangible fixed assets with net book value of £279k (see note 8). A further final gift distribution of £60k was made from The Clink Restaurant Company Ltd to the The Clink Charity during year ended 31 December 2024 (see note 9).

16 Reconciliation of net expenditure to net cash flow from operating activities

2024 2023
£ £
Net income for the reporting period 561,507 83,929
Adjustments for:
Rent Receivablle - -
Investment Income (63,571) (44,209)
Depreciation 133,787 133,953
Disposal of fixed assets 19,872 57,468
(Increase) / Decrease in stock (33,065) 36,855
(Increase) in debtors (305,873) (293,740)
(Decrease) / Increase in creditors (1,204,741) 639,450
Net cash (used in) / provided by operating activities (892,084) 613,706

32

THE CLINK CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

17 Operating Lease commitments

The group has the below minimum lease payments payable under non-cancellable operating leases arrangements at the reporting date.

Group Charity
Leasehold Motor
Vehicles		 Total Total Leasehold and Motor
Vehicles		 Leasehold and Motor
2024 2024 2024 2023 2024 2023
£ £ £ £ £ £
Within a year 165,000 31,351 196,351 - 196,351 -
Two to five years 660,000 - 660,000 - 660,000 -
More than five years 36,667 36,667 36,667
861,667 31,351 893,017 - 893,017 -

18 Post Balance Sheet Event

Discontinued operations and activities

Kitchens Project

As the grant funding comes to an end, Clink Kitchens is closing in 2025. During the period of demobilisation, the grant funders have derestricted the funds utilised in the continued support of the graduates exiting the programmes and leaving prisons and an additional £100k.

Other operations

Cost increases and the lack of available students at Styal have resulted in the decision not to renew the 1-year extension on our 10year contract in Styal, which ends in September 2025. We will demobilise from Styal from this date.

19 COMPARATIVE INFORMATION: STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR YEAR ENDED 31 DECEMBER 2023

INCOME AND EXPENDITURE Unrestricted Restricted Total Total
Funds Funds 2023 2022
£ £ £ £
Income
Income from raising funds 2, 3 262,321 - 1,998,167 2,260,488 1,323,435
Income from Charitable Activities 5 3,180,210 - - 3,180,210 2,687,100
Government CJRS Grant income - - - - -
Income from investments 4 44,209 - - 44,209 4,286
Total income 3,486,740 1,998,167 5,484,907 4,014,821
Expenditure
Expenditure on raising funds 6 53,970 - - 53,970 37,942
Expenditure on Charitable Activities - - -
Primary purpose trading, training and 6 3,633,497 - 1,609,129 5,242,626 4,177,243
Other charitable expenditure 6 46,034 - 58,348 104,382 103,944
Total expenditure 6 3,733,501 1,667,477 5,400,978 4,319,129
Net income / (expenditure) for the year (246,761) 330,690 83,929 (304,308)
Gross transfers between funds 13 157,472 (157,472) - -
Net movements in funds (89,289) 173,218 83,929 (304,308)
Funds brought forward 19 722,297 338,134 1,060,431 1,364,739
Funds carried forward 633,008 511,352 1,144,360 1,060,431

33