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2025-03-31-accounts

FIRST LOVE FOUNDATION LIMITED

FINANCIAL STATEMENTS AND TRUSTEES’ REPORT YEAR ENDED 31 MARCH 2025

COMPANY REGISTRATION NO: 7193272 (England and Wales) CHARITY REGISTRATION NO: 1137819

FIRST LOVE FOUNDATION LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] MARCH 2025

CONTENTS PAGE
LEGAL AND ADMINISTRATIVE INFORMATION 2
CHAIRMAN’S STATEMENT 3-7
REPORT OF THE TRUSTEES 8-11
REPORT OF THE INDEPENDENT EXAMINER 12
STATEMENT OF FINANCIAL ACTIVITIES 13
BALANCE SHEET 14
NOTES TO THE ACCOUNTS 15-22

FIRST LOVE FOUNDATION LIMITED LEGAL AND ADMINISTRATION INFORMATION FOR THE YEAR ENDED 31[ST] MARCH 2025

CHARITY REGISTRATION NUMBER 1137819
COMPANY REGISTRATION NUMBER 7193272
REGISTERED OFFICE 901 Import Building
2 Clove Crescent
London
E14 2BE
CHIEF EXECUTIVE Denise Bentley
TRUSTEES Samuel Okafor (Chair)– resigned 4 Apr 2025
Aerold Bentley– resigned 31 May 2025
Terene Donaldson– appointed 1 May 2025
Albert Houslin– appointed 1 May 2025
Jennifer Izekor– appointed 16 Sep 2024
Rachel Redfearn– resigned 31 Dec 2024
Michelle Taylor– appointed 12 Sep 2024
BANKERS CAF Bank Ltd
25 Kings Hill Avenue
Kings Hill, West Malling,
Kent, ME19 4JQ
INDEPENDENT EXAMINER Kevin Fisher BA FCA CTA
Kingston Burrowes Audit Ltd
308 Ewell Road
Surbiton
Surrey
KT6 7AL

Page 2

FIRST LOVE FOUNDATION LIMITED CHAIRMAN’S STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2025

INTRODUCTION

We would love to report that over the past year, much has changed. It has, but not for the reasons you would think.

The cost-of-living crisis in addition to already known root causes of poverty continues to devastate households across London and the UK trapped by the already known systemic drivers of poverty:

‘... and so, what have you done for food ’

Despite the industrial growth of surplus food aid, accessing foodbanks is no longer a key consideration when working with households. The prevailing preference is to look to family and friends for support, such is the stigma attached to receiving emergency food aid.

A change to how the UK responds to poverty is urgently needed – laser focused on housing, access to fresh healthy food, and removing the barriers to work would be nothing short of transformational for those in crisis.

Community Outreach

geography and vulnerabilities as known barriers.

to provide a bespoke advice service to long term users of their service facing multiple and complex issues. The outcomes have been nothing short of transformational, especially when time and again, our interventions continually reduce long-term reliance on emergency food aid. As important, we are also seeing first-hand the devastating impact on households who are not able to access early advice at the foodbank and how much more time (and expense) it takes to resolve deeply complex issues. It is a theme we will continue to develop in the year to come.

Fundamentally our Model continues to be the most eRective way of reaching the more isolated, low income and vulnerable households – and in the coming year we will continue its development to remain eRective in eradicating the root causes of poverty and deprivation.

Spreading the Model

For the past few years, we have been privileged to collaborate with fellow NGO’s Sustain, Food Matters and The Social Impact Consultancy to deliver the Food Roots programme, commissioned by the Greater London Authority.

Working with frontline community projects across London proved insightful, particularly hosting meaningful conversations about the wraparound model, and what it means to be ready to do so with lack of funding and skills as common barriers. We aim to work with a number of place based projects this coming year to support and explore solutions.

Access to Justice

We continue to foster closer partnerships with the legal sector, as we develop plans to expand the service beyond welfare rights alone. This is one of the ways we are exploring to plug the skills crisis in the advice sector, responding to demand for representation, appeals and complexity of need.

Page 3

FIRST LOVE FOUNDATION LIMITED CHAIRMAN’S STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2025

OUR IMPACT

Who We Helped

This past year we provided intensive support to 786 individuals from 281 households. Of these individuals, 488 were adults and 298 were children. A significant proportion of households had three or more complex cases, totalling 476 across all households .

We can also report:

mental health, long-term sickness, debt and unaRordable housing costs.

Household Crises

Financial hardship continues to be a major concern, with 8% of our cases related to debt; notably, half of these involved rent arrears.

Housing needs remain a critical issue as well, accounting for another 8% of our cases, with 14% of those specifically related to homelessness.

Cases are complex, where on average, it now takes around 12 weeks of dedicated casework to resolve . This complexity is further reflected in the nature of the issues we are supporting clients through.

Health & Wellbeing

Mental ill health emerged again as a growing concern, with a noticeable increase across every quarter.

This trend has contributed significantly to the complexity of the cases we manage, often extending the time and intensity of support required.

Where required, we also raised safeguarding concerns over the course of the year, requiring close, sensitive coordination with external services to ensure client wellbeing and safety.

Service Accessibility

A growing number of households were seen through outreach (this was also due to not having access to dedicated advice space mid-way through the year).

Nonetheless, 60% of clients and associated cases taken on were via outreach at both Poplar Harca and Bow Foodbank ; the remaining were via self-referral and partnership with the wider Tower Hamlets Community Advice Network.

Page 4

FIRST LOVE FOUNDATION LIMITED CHAIRMAN’S STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2025

Access to Welfare Support for the more Vulnerable

have been incorrectly denied welfare support, struggle to engage with local helping services due to a range of vulnerabilities, and as a result have fallen through the cracks. When not dealt with this places an increased burden on the public purse i.e. emergency grants, emergency food support, visits to NHS/A & E, household debt, rent arrears and eviction.

Advice organisations like FLF play a very important part in accessing or reinstating incorrectly stopped welfare support to help address poverty in its many forms where it impacts the family, the child, the elderly, the home and health.

Impact

Though not all cases were resolved by year end, of those we did, we can report the following: £694,897.90 in backdated and ongoing payments were secured for our clients, a 112% uplift on the previous year (£327,265.82) .

A significant portion of this support has gone to clients who were not receiving their full entitlements, with 15% identified as under-claiming prior to our intervention. The remedy often include various level of appeals up to Upper Tribunals. These can take up to a year to complete, requiring clients to wait extended periods without income.

One case featuring ill-health and disability took 10 months to resolve. Thankfully, we were able to secure £29,240.16 of ill health related benefits. The figure alone far exceeds what a claimant would ordinarily receive annually via our welfare system, and should give pause to consider just how did they survive during that period without income.

Non-Tangible Outcomes

We strive to build resilience in those we work with.

compensations we secured alongside include several soft outcomes including but not limited to homelessness prevention, support to re-engage with local helping services, and help into work.

We aim for clients to be active participants in the solutions while working alongside them to help achieve their desired outcomes. We measure this through a mental well-being score called SWEMWBS (Short WarwickEdinburgh Mental Wellbeing Scale). This is calculated by scoring seven statements across a range of 1 to 5, e.g. relating to the statement ‘ None of the time ’ through to ‘ All the time ’.

This past year, we can report of those who completed a case closure wellbeing survey:

Page 5

FIRST LOVE FOUNDATION LIMITED CHAIRMAN’S STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2025

WE DID NOT DO THIS ALONE

Our Funders

A special thanks to Poplar HARCA, the East End Community Foundation, NatWest, City Bridge Foundation, Mercers’ Company, Forrester Family Trust, Garfield Weston, Buzzacott, Esmee Fairbairn and the Westminster Foundation. We continue to be deeply grateful for their generosity and support to enhance and expand our reach to those in need.

Our Partners

We are also immensely thankful for the support and collaboration of our partners – Trilogy Partners, Publicis Groupe, NatWest, Dentons and Telehouse. Be it investment in skilled expertise, financial support or accommodation, they all continue to play a crucial role in First Love’s journey vision to create transformed lives.

A Home for First Love

Core to the operations of community advice is accommodation, which we know is a challenge across the charity sector. Since 2022, we have been supported by Trilogy Partners, championed by Robert Wolstenholme, and May Molteno, a generous donation of both advice and oRice space at their Republic Campus, located in East India, Tower Hamlets has proved crucial to our ability to extend access to our service this past year to the E14 & E3 neighbourhoods, historically an advice desert. We look forward to building on the relationship in the year to come, as we look to increase the capacity of our service.

Our People

The growth in our impact as an advocacy and advice organisation this past year did not come without its challenges. But our people (despite the size of our team) are passionate about social justice, and continue to work tirelessly to ensure the lives of those who come to us for help continue to be transformed through love, underpinned by advocacy and social justice. I would like to pay tribute to our people for their tenacity and commitment to our cause.

Last, but not least, our Board of Trustees

I would like to pay tribute to our Board of Trustees for their support this past year.

We welcomed to the Board:

I would like to thank them for their wisdom and support over the past year. I know that this is a beginning in terms of board development, and wish both Michelle and Jennifer every success as they embark on the FLF journey.

I would also like to pay tribute to Aerold Bentley year. He has held various roles – as Chairman; helping to develop our foodbank operations, and scaling our pandemic emergency food response are but a few of the ways he also championed FLF’s work. Whilst I know his passion for FLF will never wane, both he and I recognise the importance of refreshing the board, and with the new incumbents, are confident that FLF will remain in good hands.

Page 6

FIRST LOVE FOUNDATION LIMITED CHAIRMAN’S STATEMENT FOR THE YEAR ENDED 31[ST] MARCH 2025

LOOKING FORWARD INTO 2025/26

A Britain without Poverty… still

There is still much to do – but we will not give up. In the coming year, we will place a laser focus on:

IN CLOSING

I will never forget the day I reached out to FLF.

My initial thoughts were centred on connecting NatWest with a frontline charity tackling poverty in Tower Hamlets, given its close proximity to the Square Mile. But it did not take too much time with Denise to learn that emergency food in itself is just a sticking plaster. I hope you understand when I say it has been a journey, a privilege even – listening, learning, garnering the support of NatWest and fundraising too!

A particular highlight for me was the privilege of meeting those whose lives have been transformed through an encounter with First Love, be it at the session in Poplar, or even delivering Christmas Hampers as part of Love Christmas. It is why I would like to pay tribute to all at First Love for the essential work they do year round.

So, after many years on the board, I myself have reached the end of my tenure with FLF as I too step away to embark on a new chapter.

Having worked closely with Denise on this journey, I have also seen up close what it takes to lead a charity. It is no easy feat, which is why I am completely unashamed to say that I will taking key leadership insights with me, that I aim to put to good use. It goes without saying, I would like to extend a huge vote of thanks to Denise for her friendship, and the journey. She knows that I will continue to cheer from the sidelines – and wish FLF every success.

My hope and prayer is that no matter how the world changes, FLF will continue to hold fast to its values of faith, hope and love , and remain committed to its vision for a Britain without Poverty.

With thanks,

Samuel Okafor | Chair of the Board of Trustees, First Love Foundation | 1 April 2025

Page 7

FIRST LOVE FOUNDATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2025

The Board of Trustees, who are also directors of the Charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (Charities SORP (FRS102)) issued in October 2019.

MISSION, VISION & VALUES

We believe Every Household Matters .

Our vision is for a Britain without Poverty.

As a Christian charity, First Love Foundation remains steadfast in its commitment to creating meaningful and lasting change in society. Through our e\orts to lift households out of poverty, we strive to empower individuals, regardless of background, to lead sustainable, independent lives.

Our approach is underpinned by the following core values: Love, Compassion, Enabling, Empowering, Tenacity, and Resilience.

Our Ethos:

We are guided by the belief that:

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Governing Document

First Love Foundation (‘the Foundation’) is governed by its Memorandum and Articles of Association.

Constitution

The Foundation is constituted as a company limited by guarantee and registered as a charity in England and Wales. A former Trustee and the Chief Executive are the founders of the Foundation.

Recruitment and Training of Trustees

Trustees are recruited by way of nomination by a member of the Board of Trustees ('the Board') and the securing of a majority vote. Upon recruitment, the new trustees are inducted through the

Page 8

FIRST LOVE FOUNDATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2025

issuing of a trustee handbook, which includes the relevant Charity Commission material, the Foundation’s governance, structure, management, strategy, and key policies.

Organisational Management

The Board is legally responsible for the overall management and control of the Foundation and meets on a quarterly basis. The CEO and the Management Team have delegated authority to deal with the business of the Foundation and carry out the work of implementing the Foundation’s policies on a day-to-day basis. The CEO reports to the Board on a periodic basis.

External Relationships

The Foundation works with a number of partners who are supportive of its mission.

Risk Management

The Board is ultimately responsible for the management of the risks faced by the Foundation, and has a formal risk management policy to assess business risks and implement risk management strategies. This involves identifying the types of risks, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. Detailed consideration of the risks is delegated to the CEO and Management Team.

OBJECTIVES AND ACTIVITIES

Charitable Objects

The objects for which the Foundation is established, all of which shall be exclusively charitable, are:

About First Love Foundation

The Foundation was born out of the founders’ passion and desire to see transformation of those experiencing poverty and crisis through social justice. Using a ‘listen-learn-design’ approach, the foundation responds to poverty and its causes through holistic, person-centred, effective interventions that tackles poverty and the root causes of it.

Public Benefit

The trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities.

Page 9

FIRST LOVE FOUNDATION LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] MARCH 2025

FINANCIAL REVIEW

Reserves are unrestricted funds (available to spend on any of the charity’s purposes), retained in order to provide:

The Board of Trustees reviews First Love Foundation’s strategy and Annual Plan in the light of the above criteria in order to determine the appropriate level of reserves.

At the end of March 2025, the charity’s reserves stood at £163,000. This is a reduction from unrestricted funds of £231,000 at the previous year end. The change was largely the result of writing off previously donated leasehold improvements due to an office move; fixed assets at the end of the year were £112,000, down from £209,000. However, working capital increased to £51,000 from £22,000.

We experienced a surge in income during the first year of the pandemic, from which we were able to establish healthy unrestricted reserves. The associated tough fundraising conditions across the sector, rising costs of energy, and taking on a trainee, meant we have had to draw on those reserves.

We have proactively taken measures to reduce and regulate our operating costs, carefully stewarding our resources, to ensure we can continue to demonstrate value for money to our current and potential supporters.

Our income generation plan focuses on two things – the attainment of multi-year funding, and generation of new streams of income, to build the financial sustainability of the necessary and important service we provide across London.

The aim is to ensure every role and essential core operational costs of running the service is covered by specific funding, whether restricted or unrestricted.

As such, the Trustees aim to rebuild the charity’s working capital reserves but remain confident that the charity can continue in operation as a going concern, thanks to the continued support of our many partners.

Page 10

FIRST LOVE FOUNDATION LIMITED REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31[ST] MARCH 2025

STATEMENT OF TRUSTEE RESPONSIBILITIES

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

Company law applicable to charities in England and Wales, the Charities Act 2011, Charity Regulations 2008 and the provisions of the trust deed require the trustees to prepare financial statements (Accounts and Reports) for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period.

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

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report is prepared in accordance with the special provision of part 15 of the Companies Act 2006 relating to small companies.

Approved by the Board of Trustees on 29[th] December 2025

SIGNED ON BEHALF OF THE BOARD

Jennifer Izekor

Trustee and Interim Chair

For the Board of Trustees, First Love Foundation

Page 11

REPORT OF THE INDEPENDENT EXAMINER FIRST LOVE FOUNDATION LIMITED YEAR ENDED 31[ST] MARCH 2025

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 13 to 22.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, your examiner must be a member of a body listed in Section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Kevin Fisher BA FCA CTA For and on behalf of Kingston Burrowes Audit Ltd Statutory Auditor

308 Ewell Road Surbiton Surrey KT6 7AL

29 December 2025

Page 12

FIRST LOVE FOUNDATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025

Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
2
Income from charitable activities
3
Investment income
Total incoming resources
EXPENDITURE ON:
Raising funds
4
Charitable activities
5
Total outgoing resources
Net income/(expenditure)
Reconciliation of funds:
Total funds brought forward
13
Movement in year
Total funds carried forward		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
185,411
442,433
627,844
192,303
409,305
601,608
30,000
32,882
62,882
12,500
-
12,500
-
2,176
2,176
-
1,649
1,649
215,411
477,491
692,902
204,803
410,954
615,757
-
5,873
5,873
-
18,446
18,446
215,411
539,971
755,382
228,803
535,229
764,032
215,411
545,844
761,255
228,803
553,675
782,478
-
(68,353)
(68,353)
(24,000)
(142,721)
(166,721)
-
231,415
231,415
24,000
374,136
398,136
-
(68,353)
(68,353)
(24,000)
(142,721)
(166,721)
-
163,062
163,062
-
231,415
231,415

The notes on pages 15 to 22 form part of these accounts.

Page 13

FIRST LOVE FOUNDATION LIMITED

BALANCE SHEET FOR THE YEAR ENDED 31ST MARCH 2025

FIXED ASSETS
Tangible fixed assets
10
CURRENT ASSETS
Debtors
11
Cash
CREDITORS: Amounts due within one year
12
NET CURRENT ASSETS
TOTAL NET ASSETS
FUNDS
Restricted Funds
13
Unrestricted Funds		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
-
111,680
111,680
-
209,185
209,185
13,950
3,095
17,045
5,000
6,000
11,000
29,067
64,780
93,847
62,812
48,048
110,860
43,017
67,875
110,892
67,812
54,048
121,860
(43,017)
(16,493)
(59,510)
(67,812)
(31,818)
(99,630)
-
51,382
51,382
-
22,230
22,230
-
163,062
163,062
-
231,415
231,415
-
-
-
-
-
-
-
163,062
163,062
-
231,415
231,415
-
163,062
163,062
-
231,415
231,415

For the year ended 31st March 2025 this charitable company is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for (a) ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Approved by the Board of Trustees on 29 December 2025 and signed on their behalf by

Jennifer Izekor

Trustee and Interim Chair

The notes on pages 15 to 22 form part of these accounts.

Page 14

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

1. ACCOUNTING POLICIES

a. Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention, with items recognised at cost or transaction value, with the exception of investments which are included at fair value. The accounts have been prepared in accordance with the 2019 version of the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP (FRS 102)), and with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and with the Charities Act 2011. The trust constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

b. Incoming resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Where there are terms or conditions attached to incoming resources, the charity is only entitled to the income once those conditions are satisfied. In particular, where major grants are received to fund activities over future months, there is an implied condition that the grant may not be spent before those periods without express permission, so the relevant income is not recognised in the year but shown on the balance sheet as deferred income.

c. Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

d. Charitable activities

Costs of charitable activities are those costs relating to the activities carried out to meet the objectives of the Charity. These include both directly attributable costs and apportioned support costs.

e. Fixed assets and depreciation

Fixed assets are items, for example office equipment, computers or vehicles, owned by First Love Foundation for use in our work (not as an investment), which have a life of more than 12 months, and a value on acquisition of over £500. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets: Computer equipment 33% on cost
Fixtures and fittings 20% on cost
Leasehold improvements 10% on cost

f. 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 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.

Page 15

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

2. DONATIONS & LEGACIES
a. Major grants and funding
Action for Bow
Bearded Kitten
Bow Foodbank
Burberry
Buzzacott
City of London
East End Community Foundation/Poplar HARCA
Esmee Fairbairn Foundation
Forrester Family Trust
Garfield Weston Foundation
Mercers' Charitable Foundation
National Lottery & Cabinet Office
Natwest
Publicis Sapient
Ricoh UK
Telehouse Daletech
The Delta Group
Vanguard
Westminster Foundation
Worshipful Company of World Traders
Total major grants and funding		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
-
-
-
18,750
-
18,750
-
415
415
-
-
-
18,000
-
18,000
-
-
-
-
4,667
4,667
-
3,380
3,380
-
-
-
10,000
-
10,000
55,799
-
55,799
13,950
-
13,950
53,795
500
54,295
10,000
-
10,000
-
15,000
15,000
-
-
-
-
12,500
12,500
-
12,500
12,500
-
30,000
30,000
-
-
-
44,017
-
44,017
4,000
-
4,000
-
-
-
74,955
-
74,955
-
5,000
5,000
-
15,000
15,000
-
9,000
9,000
-
9,000
9,000
-
-
-
-
18,666
18,666
-
3,342
3,342
-
15,400
15,400
-
-
-
9,000
-
9,000
-
-
-
7,500
-
7,500
-
10,000
10,000
-
-
-
-
-
-
500
-
500
171,611
90,424
262,035
148,655
73,946
222,601

Page 16

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

2. DONATIONS AND LEGACIES, continued
b. Total voluntary income:
Major grants and funding, see above
Donations in kind
Other donations
Total donations and legacies
3. INCOME FROM CHARITABLE ACTIVITIES
Government grants: LB Tower Hamlets
Training and consultancy income
Total income from charitable activities		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
171,611
90,424
262,035
148,655
73,946
222,601
13,800
278,786
292,586
43,648
222,545
266,193
-
73,223
73,223
-
112,814
112,814
185,411
442,433
627,844
192,303
409,305
601,608
30,000
-
30,000
12,500
-
12,500
-
32,882
32,882
-
-
-
30,000
32,882
62,882
12,500
-
12,500

Page 17

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

4. EXPENDITURE ON RAISING FUNDS

Fundraising costs
Website support costs
Total expenditure on raising funds
5. EXPENDITURE ON CHARITABLE ACTIVITIES
a. Direct charitable activities:
Staff costs
Contract staff and consultants
Recruitment costs
Staff meetings
Staff training
Staff travel and subsistence
Staff welfare
Health and safety
Volunteer expenses
Client and visitor welfare / entertainment
Translation costs
Postage
Total direct costs		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
-
4,707
4,707
-
17,075
17,075
-
1,166
1,166
-
1,371
1,371
-
5,873
5,873
-
18,446
18,446
198,539
85,507
284,046
153,190
177,840
331,030
900
40,880
41,780
-
12,142
12,142
-
1,596
1,596
-
6,076
6,076
-
1,643
1,643
-
-
-
-
4,035
4,035
1,965
811
2,776
-
923
923
-
1,930
1,930
1,760
340
2,100
-
658
658
-
-
-
-
256
256
-
126
126
-
5,586
5,586
412
198
610
-
-
-
-
3,142
3,142
-
2,770
2,770
-
114
114
-
-
-
201,611
138,504
340,115
155,155
208,069
363,224

/ continued…

Page 18

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

5. EXPENDITURE ON CHARITABLE ACTIVITIES, continued

b. Support costs:
Rent and rates
Energy costs
Repairs, renewals and cleaning
Depreciation (note 10)
Losses on disposal of fixed assets
Governance costs
Legal and professional fees
Memberships
Publications
Equipment storage
Insurances
IT hardware
IT software and support
Telephones
Office expenses
Printing and stationery
Interest paid and bank charges
Total support costs
Total expenditure on charitable activities		 Restricted
Unrestricted
Total
Restricted
Unrestricted
Total
Funds
Funds
Funds
Funds
Funds
Funds
2025
2025
2025
2024
2024
2024
£
£
£
£
£
£
13,800
229,239
243,039
57,600
208,800
266,400
-
7,471
7,471
-
8,321
8,321
-
5,906
5,906
-
10,101
10,101
-
34,463
34,463
-
39,969
39,969
-
63,041
63,041
-
-
-
-
4,867
4,867
-
9,063
9,063
-
3,117
3,117
-
6,689
6,689
-
1,635
1,635
-
1,914
1,914
-
465
465
-
308
308
-
2,230
2,230
-
2,842
2,842
-
4,125
4,125
-
3,897
3,897
-
-
-
-
5,273
5,273
-
33,358
33,358
16,048
15,672
31,720
-
10,170
10,170
-
10,901
10,901
-
177
177
-
2,755
2,755
-
816
816
-
575
575
-
387
387
80
80
13,800
401,467
415,267
73,648
327,160
400,808
215,411
539,971
755,382
228,803
535,229
764,032

Page 19

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

6. INDEPENDENT EXAMINER

The Independent Examiner's fee for the 2025 accounts was £1,250 (2024: £1,200). The fee related solely to the examination, with no other additional work being undertaken (2024: £nil).

7. STAFF COSTS

7. STAFF COSTS
Salaries and wages
Pension costs: Defined contribution scheme
Social security costs
Total staff costs		 2025
2024
£
£
263,234
298,916
5,813
8,577
14,999
23,537
284,046
331,030

The average number of employees in the year was 7 (2024: 8).

No staff received employee benefits at a rate of more than £60,000 per annum. A defined contribution pension scheme is in place.

8. TRUSTEES

In 2024 one Trustee, Aerold Bentley, received £3,276 for mileage and parking expenses related to Operations work (including IT) that was otherwise unpaid. No other remuneration, benefits or expenses were paid to any of the Trustees in 2025 or 2024. The Trust received no donations from its Trustees in the year (2024: £ nil).

9. RELATED PARTIES

Aerold Bentley, co-Founder & Trustee, is married to Denise Bentley, co-Founder & Chief Executive.

Page 20

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

10. TANGIBLE FIXED ASSETS

Cost
As at 1st April 2024
Additions
Disposals
As at 31st March 2025
Depreciation
As at 1st April 2024
Provided during the period
Disposals
As at 31st March 2025
Net Book Value
As at 1st April 2024
As at 31st March 2025		 Computer
Fixtures
Leasehold
Total
equipment
& fittings
improvements
£
£
£
£
28,610
64,900
202,728
296,238
-
-
-
-
(13,437)
-
(85,000)
(98,437)
15,173
64,900
117,728
197,801
20,548
25,960
40,546
87,054
4,752
12,980
16,731
34,463
(13,438)
-
(21,958)
(35,396)
11,862
38,940
35,319
86,121
8,062
38,940
162,182
209,184
3,311
25,960
82,409
111,680

11. DEBTORS

Accrued income
Other debtors and prepayments
Total		 2025
2024
£
£
13,950
5,000
3,095
6,000
17,045
11,000

Page 21

FIRST LOVE FOUNDATION LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2025

12. CREDITORS: Amounts falling due within one year
Trade creditors
Accruals and deferred income
Taxation and social security
Total		 2025
2024
£
£
2,423
-
54,829
92,420
2,258
7,210
59,510
99,630

Deferred income arises where grants are received in advance to cover activities in future months. All income deferred at March 2024 and March 2025 was fully expended in the following financial year.

13. RESTRICTED FUNDS

Amounts received and carried forward for specific purposes were as follows:

Opening balance at 1 April 2023
Income in 2024
Expenditure in 2024
Closing balance at 31 March 2024
Income in 2025
Expenditure in 2025
Closing balance at 31 March 2025		 Advice service
Marketing
Total
£
£
£
-
24,000
24,000
203,155
1,648
204,803
(203,155)
(25,648)
(228,803)
-
-
-
215,411
-
215,411
(215,411)
-
(215,411)
-
-
-

Page 22