Company registration number. 08430575 Charity regislratlon number. 1151413 Millfields Inspired {A company limlted by gu8ranlee) Annual Report and Flngnciol Slalements for the Year Ended 31 Augu812025 WESTCOTTS CHARTERIO AceouNTANTS
Millfields Inspired Contsnts Reference and Adminislraliva Detalls Trustees, Report 2to7 Independent Examinerf8 Report Statement of Finandal Adlvhie3 B818n¢e Sheet 10 Notes to the Flnancial Statements 11to23
Millfields Inspired Refarance and Administrative Details Chalmian Mr A Botterill Trustees Mr A Botterill Mr P Q Barfow Dr S J Felmingham Mrs J Ellard Ms N Sarfaka Mr S Robert8 Ms H J A Devlin (appointed 26 September 20251 1151413 Charty Règlstratlon Numbor Company Reglstrallon Number 08430575 R•glst•r•d Offico HQ Business Centra 237 Union Street Slonehouse Ptymoulh Oevon PL1 3HQ Matthew Keane FCCA Independent Examlner We8lcotts (SW) LLP Plym House 3 Longbridge Road Marsh Mi118 PlymoLrth Devon PL6 8LT Page 1
Millfields Inspired Tru5tees' Report The Iruslees, who aro directors for the purposes of LL)mpany18w, present the annual report 10getheT with the financial stalem8nts of the charitable company for the year ended 31 August 2025. Objectlve5 and activitios ObJ4cts andalms 1.1.1 To advance the education of young pe¢¥le aged under 25 within the Clty of Plymouth, with a particul8r emphasis an the neighbourhood of Slonehouse I'the Area of Benefif} in such ways as the Trustees think fil including {wilhoul limitation).. 111 Supportlng them in prepar81ion for entry into any occupation. trade or profession on leaving any eslablishmenl,. (21 Providing support and activitie5 which develop their skills and capabilities lo enable them lo partIpate in society and mature as responslble indiwdu818', 1.1.2 To provide or 8881st in the provlsk)n of facilit8 in the interests of social welfare for recreation or olher18isure lime occupation for people living in the Area of Benefit who havo need of such facilrties by reason of their youth, age, infimrty or disability, financial hardship or Social or economic circumstances wlh a ¥Aew lo improving the conditions of lrfe of such persons., 1.1.3 For the public benefit to promote learning for people longer in full lime educatKJn andlor employment through continued development of Ihelr individual capabilities,. and 1.1.4 The relief of unemployrnenl for the benafil of the public In the Area of Benefrt in such ways the Trusle8s think fil including assistsnca to find employment, 1.2 This provision may be amended by 8pec181 resolution bLrt only wlh the prior wrrtl8n consent of the Commission. The mBin 8CtNity In support of the objectives is the running of a programme entitled Wldening Horizons. The prolecl works with year five children in the Slonehouse and Devonport, providing Ihem inspiration81 experfences linked lo the world of work. The programme enables children lo gain an insight Into professions and careers and importantly the roule through to these careers. It does so by either by taking children out lo visrt workplaces, or by bringing prDfessKJnals into the classroom. The programme will enable children lo make the link beeen Ihelr educallon and their profegsional careers and enable them lo make more informed decisions. In doing so it will increase their ski118 and molNallon lo succeed. P8ge 2
Mlllfields Inspired Trustees, Report Achlevements and performance Wldenlng Horizons programme This year, we delivered the Widening Horryons programme acTOSS all 10 of our schools In Stonehouse and Devonport, as well as Whitigh Primary. In total. we ran 82 sessions reaching 287 children, introducing Year 5 pupils to the world of work. We are grateful for the support of our programme partners. including Sherford, Fool Ansley, EE, Market Hall, the National Marine Aquarium, Cattewater Harbour Commissioners, Ar8mark Catering and the Murray Group. among others. Insplre M8 programme We planned and delivered 61 in4lass sessions acros8 nine of our schools In Slonehouse and Devonport. These sessions provided pupils from Foundation Stage through to Year 6, excludlng year 5 wf(h curriculum-based experience8 exploring the wodd of work. Headteachers highlighted the valuè of introducing Ihl8 additional support from Foundation Sla9e orwards, particularly in holping lo develop children'8 aspirations. confidence and resilience, and welcomed the opportunity for every class lo access 8 range of different experiences. The following partners supported delivèry of Ihbs programm.. Royal Navy, City 8u$. Kier Bam, Babcock. Police, Ptymouth Literacy Prqecl and Univgrsily of Ptymoulh Medicgl Students. Connectlng CommunStle¥ Programme We inilialed 8 new programme In Sept 2023 with the go81 of connecting indlviduals in our communiti88 and nurturing ralatlonships. As part of the programme, we arranged the follng events:. Int8rgen•ratlonal Project- Generatlons Together Our work seeks lo provide support for those in our communlty with connactedness so that both children and young people develop supportive Telalionships with others and build confance, respect and resilience. This helps lo f051er ski115, improves feelings of 88fely, and r8ise8 88pir8tions. The socialisalion of childrén wlh elderly re8idents through diverse and rich enmronmenls, helps lo develop chihdren's social and cultural copllal 8nd broadens their under8tanding of the wSder worfd, and them$8e8 as individual8. W8 d8llvered the following se88ion8'.- DJto School Colleg• Care home Chlldren Students Eldorty Resldonts 1119124 St George's City College Parkwood Hou58 40 14 11111r25 St Andrews Cty College Parkwood and Nazareth House 50 15 27101r26 St Peters Scott Medical Collego Parkwood and Nazareth House 30 12 24102r26 Whitleigh DWP and On Cour3e South Wesl Parkwood House 18 12 Page 3
Mlllflelds Inspired Trustses. Report 24103126 Cathedral Schdol of Sl Mary 251 Arts University PrnOuth Nazareth House 18 10 Total number of people vrkad wlth 156 61 T•ddy Bear Plcnlc Llteracy Project Worting with local education provider5, organis81ioris, and community volunteer8, children came along with their favourite book and teddy bear lo the park. Volunteers kindty read with each class, and seeondary school sludenlslcommuntty Argyle students perforrned a teddy bear song and engaged the children in aclivilies. The children were given a picnic lunch and a new book to lake homa. Thi8 initiative aims to improve If(eracy levels 8mon9 children in deprived are88 8nd build supportive communili8s for a brighter future. In 24-25 we ran the following se8sions'.- St Georges Primary School BabcoGk vol St School Géorges 2510912024 11-1 pm 21 21 Pllgrlm Prlmary x 2 cla8ge8 Pllgrlm Prlmary School 2610912024 11-1pm voluntser8 60 3S Cathedrdl School olst Mary Millflelds Insplrod OW1012024 11-1 pm volunteer8 14 14 11.30 12.30 Whltlolgh Prlmary School Ml voluntegr Whltlelgh Prlmary School 2711112024 10 Hlgh Street Prlm#ry 8chool Mlllf161ds In8plred 0311212024 11.1pm voluntegrs 35 St Petern Prlmary School Mlllflelds Insplr•d 0911212024 11-Ipm voluntser 35 St Andrew8 Primary School Mlllflelds In8plred 1910512025 11-1 pm volunte•rs 10 Marl. St Jogs & M Wis Devonport Park Bandstand 2010512025 11-1 pm voluntéer 72 30 P8ga 4
Millfields Insplred Trustees. Report On this project we worked wf(h a totsl of 320 children, 131 Students and 74 elderW residents. The followlng dala evldonce the hours used of our space from:. 9th Sept 2024 to 21st July 2025. Glob• Kld8 We understand that some maryinalised groups in our communily may need a safe space. Wrth that in mind, starting on 21 st Feb 2024, we offered our space lo Globekids. a group of children who have been displaced by war. The children are supervised and guided by their coordinators and Millfields Inspired provides the group wi(h D8S. links lo other support for the group, food, arKI hol dfinks. Our goal is lo create a safe environment whare the children can feel a sense of conn8clion and 8UPPOrt, which will help them build confidence and rasllience as they adju81 to life in Ptymoulh. Our facility was used for a lolal of 158 hour5. Woman's Collectlve A communrty of women has united wllh the goal of creating handmade resources for other8 while f031ering 8 safe and supportive environment for gatherings. Each week, Millfields Inspired provides the group wlh a dedlcaled spe and refreshments, enabling them to connect, create, and support one another. Our fxllily was u8ed for 8 total of 111 hours. Spaclal EducatSonal Naads group PEEPS In collaboration with PIAS (Plymouth Information and Advice Semcel and our local Family hub8. The goal of this group was to identify and assist families WTth young children who 8re transitioning into srthool. The aim is to provide parents th strategies lo understsnd their children'8 behaviours, help with routines, and address day-to4ay issues that may 8ri$9. Ensuring that childran are ready lo leam is crucial for their development and future success as adults. Our facllily was used for a total of 12 hourn. J8remlah3 Journey We have worked closely with another charity (Jeremlahs Journey) by providing a safe, private space for them lo meet with the childran and families they support following a bereavement. The room is used tr1¢8 a week, on Wednesday evenings and Friday mornings. 11 has prowded children who have lost a parent with a safe sanctuary lo play, talk and express themselves crealNely. Our facilty was used for 8 lolal of 31.6 hour8. Baby Group- Kgystone Chlldr8n'8 Centr8lAction for Chlldren The local children's centre identified the need for a larger, more suitable space to njn 8 baby group, as their own facilities were not able lo comfortably accommodate the number of families attending. To support this, the group was hosted over an eight week period, providing a welcoming and accessible space for new parents and their babies. During these sessions, parents were able lo meet regularly w'rth a parenting worker and a heatth Msitor, offering opportunrties for professional guidance, reassurance and peer 6UPPOrt. The group helped reduce isolation for new parents. supported early bonding and wellbeing, and ensured families could access advice 8nd support in a Safe, relaxed environment. Our faalty wa8 Usad for 8 lolal of 16 hours. Page 5
Miiifields Inspired Trustees. Report Summer Swim School We provKled addf(ion81 swimming lessons for children from kn of the Slonehouse 8chools we work wrth. helping them lo consolidate and build on the swimming they had already completed in school. Teachers identffied pupils most in need of supptsrt lo develop water Confidence, and we then delivered a four-week programme in p8rtner8hip wth The Lrfe Centre, Plymouth. Lessons look place over the summer holrdays We engaged with a lolal of 19 chlldren from 2 schools In the programme. Graduatk>n SeJslon Our annual graduation event al Cty College Ptymoulh ceiebraled children compleling the Widening Horizons programme. The event featured an inspirallonal guest speaker who shared insights into careers and personal journeys. Each child received a certificate and book to mark their achievement and encourage resilience. This 18 about celebrating childr8n'8 achievement, recognising them as indivlduals and providing them wllh chances lo ask questions, be curious and fael empowergj about Ihair own indwldual potential. We congratulated all 287. World Ocean Day Our Wodd Ocean Day event is offered to Year 5 pupSls in the Widening Horizons programme. Delivered with p8rtner8, It prOVe8 a fun and 8duc81ional experience on a local Ptymouth beach. Families Can easily attend after school, lake part in interactive talks from organisalions such as the National Marine Aquarium and others, and leam about marine life and plastic polILrtn. The evening concludes with a shared food for all allendees. Prom cellar Our Prom Cellar iniliatwe ensures that cost is not a barrier for young people attending prom or end-of-year celebrations. We collect and distribute high-qualty, pre-loved, and Sustainab sourced Suits and dresses. helping young people find ouffils that fil well and boost their confidence. Thi8 year. we opened five lime8 and 8UPPOrtèd hundreds of young people lo feel included and celebrate alongside their peers. Flnancial rnvl8w Policy on rnseNes The Reserves Pollcy of the Charty is to hold 3 months gf running costs. The Charity currently hold8 £27,857 of G6neral Unrestricted Funds. In addition, reserves have also been sel up to cover stsff contingency of £27,000, Ccwmmunity Engagement and development & Innovation of £42,445. Page 6
Millfields Inspired Trust8es' Report Struthirn> govemance and management Nature of govemlng documont The organisation is a charltable Company limlted by guar8ntee, in(¥Jrporaled on 5 March 2013. The company was estsblished under a Memorandum of Association which established the objects and powers of the charitable company and is govemed under ils ArtKles ofAssocialion. In the event of the ompany being wound up members are required lo contribute an amount not exceeding £1 each. Rocrulthient and appolntment oftNs¢ees Truste88 can be ejected by members of the charty or CopIed by existing Iruslees. The Mlllfield8 Community Economic Development Trust Communty Interest Company (Company Number.. 035132021 has the power to appoint, remove and replace a majority of Iruslees so long as rt is 8 member of the Charity, by written notlce from tlme lo time. The chority will recruit addltional trustees, as and when Tequlred. The charlty maintains a register of members. Membership is open onty to trustees and the Millfields Communlty Econom Development Trust Community Interest Company. Small compan188 provl8lon statement This report ha8 been prepared in aGcordanc6 the small companles regime under the Compani8 Act 2006. The annual report was opproved by the Irusleas of the chadty on .3&.: *and signed on Its behalf by.. Mr A Botterlll Chairman and tru8tae Pago 7
Millfields Inspired Independent Examinerfs Report to the trustees of Mlllfields Inspired ('the Companw) I report lo the charity Iruslees on my examinats'on of the accounts of the Company for the year ended 31 August 2025. Re8ponsiblliti&s and basls of raport As the charity's trustees of the Company land also ts directors for the purposes of company lawl you are responsible for the praparalion of the accounts in 8ccordance with the r8quSrements of th Companies Act 20ae I'the 2006 A¢l'l. Having sa118fied myself that the account8 of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in re8pecl of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 ACVI. In carrwng out my examination I have loliow8d the Diraclions given by the Charily Commission Ltnder FRclion 14515llbl of the 2011 Ad. Indepond•nt OX8mlner's ststement I have completed my examination. I confirm that no m8tter8 have come lo my attenllon In Gonnection with the axaminalion giving me cause lo believe.. 1. accounting racords were not kept in respect of Miiifield8 Inspired aj required by section 386 of the 2006 Act., or 2. the accounts do not accord wkh those records., or 3. the accounts do not comply wrth the accounllng rnquirements of Section 396 of th8 2006 Acl other than any requirement that the accounts give 8 'lruo and fair whSch is not a matter consmdered as part of an independent examlnalion.. or 4. the accounts have not been prepared in accor(lance with th8 method5 and princlpl&s of the Slalement of Recommended Practice for accounting and reporting by chariltes lapplicabl& lo charities preparing thelr accounts in accord8nce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concems and have come across no other matters in cx)nn8clion th the examinolion to which attention should be drawn in this report in order to enabk a proper understanding of the accounts to be reached. Mallhew Keane FCCA Weslcotts (SWI LLP Plym House 3 Longbridge Road Marsh Mi118 Plymouth Devon PL6 8LT Date.. ..2..S/.os/z.6 Page 8
Millfi8lds Insplred ststement of Financial Activities for the Year Ended 31 August 2025 (Including Income and Expendltur8 Account and Statement of Total Recognlsed Gains and Losses Unrestricted funds Restricted funds Total 2026 Totsl 2024 Income and Endovnnents from: Donations and legac8 Total income 96,89S 70,138 167,033 108,012 96,895 70,138 167,033 108,012 Expondltur8 on: Charitable acliv'rti8S 102,870 56,080 1158,950 104894 Total expenditure Net lexpenditurelllncome Tr3n8f8rs betsveen funds 102,870 56.080 158.9SO 104,894 (5,9751 5,320 14,058 15,320 8,083 3,118 Net rnovemenl in funds 16SS1 8,738 8,083 3,118 Reconclllatlon of fund¥ Total funds brought loard Total funds carried foNard 14 97,957 34,897 132,854 129,738 43,635 140,937 132,854 All ofthe charity'8 actiwlies dedve from continuing operatbn8 durlng the above tsvo p8rloJ¥. The funds bre8kdown for 2024 is shown in note 14. The note8 on pages 11 to 23 fom an integral part of these finandal 8tstemgnts. Page 9
ljllllflelds Inspired (Registration number: 08430575) Balance Sheet as at 31 August 2025 2025 2024 Not• Flxed assets Tangible assets Investments 10 11 1,312 5,000 6.312 5,000 Current assets Debtors Cash al bank and In hand 12 7,767 153.510 57,757 80,597 138,354 181,2TT 26,652 Credltor•: Amounts falllng due wlthln one yoar Net curront assetA 13 11,366 134,625 126,988 Not ass•ts 140,937 132,854 Fund8 ofthe charlty: Restrlct8d Income fundg Reslriclad funds 43,e35 34,897 Unrestrfcted Incom• funds unrès1rt8d funds 97,302 97,957 132,854 Totsl fund• 14 140,937 For the fin8ncl81 ye8r ending 31 August 2025 the charity was enlilled to exemption from audit under section 477 of the Comp8nie8 Act 2006 relating lo sm811 companies. Directors, re8ponslbllitles'. The members have not required the charity lo obtain an audit of k8 accounts for the year in question in accordance wth 8ection 476., and The directors acknowledge Ihgir responsibililles for complying with the requlrement8 of the Act wllh respect lo accounting records and the preparation of accounls. These financial statements have been prepared in accordance with the special provisions relating lo companies sublecl lo the small comp8n*s regime wilhin Part 1S of the Companies Act 2006. The financial statements on pages g 10 23 were approved by the Iruslees, and aulhortsed for issue on 4¥Y..:.....%.È8nd signed on Ihelr behalf by.. Mr A Botterill Chairman and Trustee The notes on pages 11 to 23 fomi an integral part of these financial slalemonls. Page 10
Millfields Inspired Notes to the Financial Ststements for the Year Ended 31 August 2025 I Charity status The chanty is limtted by guarantee, incorporated in England and Wales, and consequently does not have shore capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the chartty in th8 event of liquidation. The address of its registered officB 18.. HQ Business Centre 237 Union Street Stonehouse Plyinoulh Devon PL1 3HQ 2 Accountlng pollcles Summary of slgnlflcant accountlng pollcl8• and kay accountlng •stlmatsa The principal accounting policies applied in the preparation of these financial stalem8nls are sel out below. These policie8 have been consistent applied lo all the years presented, unless otherwise s1810d. ststemènt of compllanca The financlal slalemen18 have been prepared in accordanc8 wlth Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable lo charllies preparing their accounts In accordance Mlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 lis$ued in October 20191 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Companies Act 2006. B¥81s of praparatlon Millfields Inspired meets the definition of a public benefit enlty under FRS 102. A888ts and liabilrties are initially recognised al historic81 cost or transaction value unless otheIBe Staled in tha relevant accounting policy notes. The financial Statements are prepared in sterling. which is the functional currency of the entity. Going concern The Iru5tees consider that there are no material uncertainties about the chartys ability to Gonlinue as a going concem nor any Signl¢ant areas of uncertainty that affect the eartw'ng value of assets held by the charity. Income and endowments All income is recognised once the chanty ha5 entitlement lo the income, il is probable that the income will be received and the amount of the income receivable can be measured reliably. Page11
Mlllfields Inspired Notes to the Financial Statements for the Year Ended 31 August 2025 Donations and18ga¢ies t)onalion$ are recognised when the charty has been notrfied in writing of both the amount and settlement dale. In the event th81 a donalh)n is subject lo condrtions that require a level of performance by the charity before the charity is enlf(led lo the funds, the income is deferod and not recognised until either those conditions are fully mel, or the fuifilmenl of Ihose conditions is 01 within the control of the charity and rt is probable that these conditions will be fulfilled in the reporting period. Daferred Income Deferred income represents 8mounls reeeived for future periods and is released to incoming resources In the period for which. it has been received. Such income is only deferred when.. Th8 donor specifies that the grant or donation must only be used in future accounting periods.. or The donor h88 imposed conditions which musl be met before the charity has uncondf¢ional enlitlemenl. Expgndllure All expenditure 15 racogni8ed once there is a leg81 or conslrucllve obligatlon to that expenditure, 1118 probabl8 s8111omenl is required and the amount can be me8sured reliably. All costs are allocated lo the applicable expendrture heading that aggregate similar cos18 to that category. Where co818 cannot be directly allribuled lo particular headings they have been 811ocaled on a basis con818tenl with the use of r880urces. with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use, Other support costs are allocated based on thè spread of staff cost8. Charltabla actlvltles Charitable expenditure comprlses those costs incurred by tha charrty in the delivory of Its activitie¥ and services for its beneficiarkis. 11 includes both costs that can be all¢xaled direGlly to such activities and those costs of an indirect nature necessary lo support them. Support costs Support costs indude central funcllons and have been allocated lo acllvily c081 categories on a b8SI8 consistent with the use of resources, for example. allocating property cos15 by floor areas, or per captta, sl8ff costs by the lime spent and other costs by their usage. Taxatlon The charity is con8iclered lo pass the les18 s81 out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefo it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from tsxation in respect of income or copilal gains received within calegorieg covered by Chapter 3 Part 11 of the Corpor81ion Tax Act 2010 or Secth)n 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively lo charitable purposes. Tanglble flx8d assets Indniidual fixed assets are inf(ially recorded * cosl, Fess any subsequent accumulated depreciation and subsequent accumulated impairment losses. Pe 12
Millfields Inspired Not88 to tha FinanGial Statements for th8 Year Ended 31 August 2025 D•preciatlon and amortisatlon Depreciation is provided on tsngible tixed a88els so as to write off the cost or valuation, les8 any esllmaled re8idual value, over their expected useful economic life as follows.. DeprecSatlon method and rate 33Vo straight line Assgt clas8 Equipment Flxèd asset Investments Fixed asset investmen18, other than programme related investments. are included al market value al th8 balanc8 sheet dale. Realised gains and losses on investments are calculated as the difference b¢tten sales proceeds and their marf(el value at the start of the year, or their subsequent cost, and are charged or credited to the Slalemenl of FinanGlal Activities in the period of disposal. Unrealised golns and losses represent the movement in market values during the year and are crèdtted or charged to the Statement of Financial Aclivitigs based on the market value al the year and. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call depo8rts, and alher 8hort4erm hlghty liquid inve81menls that are read1 convertible to a known amount of cash and are sublecl 10 an insignificant risk of change in value. Borrowlngs Intere8t4>earing borrwng8 are intt1a1 recorded 81 fair valua, net of Irgnssclion cost8. Intere81-bearing borrowings are subsequently carried 81 amortised cost, w'rth the difference betsveen the proceeds, nel of transaction costs, and the amount due on redemption being recognised as a charge lo the Statement of Financi81 Aclivilies over the penod of the relevant borrowing. Interest expense 18 recognised on tha basis of the eff8Ctiva interest method and18 included in interest pay8ble and similar charges. Borrowings are classified as current liabilfties unless the charity h88 an uncondiltonal right lo defer settlemonl of the li8bility for at least bKelve month8 after the reporting date. Fund struclur Unrestricted income funds are ggneral funds that are available for use at the Iru8tee8 dlscretion In furtherance of the objectives of the charty. Reslricled income funds are those donated for use in a particular aTea or for specrlk purpose8, the use of which is reslricled to that area or purpose. Page 13
Millfields Inspired Notes to the Financial Statements for the Year Ended 31 August 2025 Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which 18 9 pension plan under whleh fixed contributions are paid into a pension fund and the charty has no legal or constructsve obligation lo pay further contribution3 even rf the fund does not hold sufficient assets lo pay all employees th8 benefits relating lo employee service in the current and prior periods. Contributn8 to defined contribution plans are rgcognised in the Statement of Financial Actknlres when they are due. If contribution payments exceed the contribution due for seNlce. the exces8 IS recognised Bs 8 prepayment. Flnancial instrumants Cl•sslllcatlon Financial ossets 8nd financial liabilities are recognised when th6 charity becomes a paty lo the conlraclual prowsions of the inslrumenl. Fin8nGial liab1151ies and equity instruments are cla88ified according lo the substance of the conlraclual 8rr8ng8menls onlered into. An equity instrument 18 any contract that eviden$ a residu81 interest In the assets of the charity after deducting all of 118 li8bililies. Recognltlon and measur8mont All financial assets and liabilrties 8re inillally measured at Ir8n8acllon prlce (including transacllon cos151, except for Ih03e financial assets classified as al fair value through profil or loss, which are Initial measured 81 fair value (which 18 nomially the transaction price excluding transactn cost8}, unless the arrangement conslilLrte8 a financing Iransaclion. If an arrangement conslilules a financing tiarisaclion, the financial 888el or financial liabilty measured al the present valuo of thè future payments discounted al a market rale of interest for a similar éebl inslwmenl. Finandal as8els and liabilities are onty offset in tha statement of financial position when, and only when there exlsts a legally enforceable nght to sel off the reeognised amounts and the charity intend8 either lo settle on a nel ba818, or lo realise the a88818nd settle the liability simultaneously. Flnanciol a88ets are derecognised when and onty when al the contractual rights lo tho caEh fky$ from the fin8ncial 8ssel expire or are sellled, bl the charity transfers lo another party substantially all of the risks and rewards of ownership of the financial asset, or cl the charity, daspile having retained some. bul not all, significant risks and rowards of ownership, has transferred control of the asset to another paty. Financial liabilities are defecognised only when the obligation specif18d in the contract is dischalged, cancelled or expires. Dobt Instruments Debt instruments are subsequentty measured at aTnOrtised cost. Page 14
Millfields Inspirad Notes to the Financial Statements for the Year Ended 31 August 2025 Investments Investments in non•convertIb preference shares and non-pultable ordinary or preference 8hare8 (where shares are publidy traded or their tsir value is reliably measurable) are measured 8t fair value through profil or loss. Where fair value cannot be measured reliably, investments ale measured al cost less impaiment. Investmen18 in subsidiarles and 8ssociatgs are measured at CO811868 impaimienl. For investmen18 in ¥ubgidiarie8 acquired for constderalion including the issue ol sharès qualfying for merger relief, c09t is measured by reference to the nominal value of the shores issued plus fair value of other consideration. Any premium Is Ignored. Deflned contrlbutlon plans Conlributlons lo definad contributn plans arè recognised as an expense In tha periad In which the related seNiC8 is provided. Prepaid contributions 8re recognised as an asset to the extent ihal tha prepayment will lead lo a reduction in future payments or a cash refund. When contrfbutions are not expected lo be settled wholly wthin 12 month8 of the end of the reporting dale in which the employees render the related service, the li8bilty is measured on a discounted pmsenl value basis. Tha unwinding of the dlscount is recognised as an expense in the period in which (t arise8. 3 Incom8 from donatlons and l•gacl•s Unre•trlct•d funds General R06trfctsd funds Total 2026 Don81ions and legacles., Donations from indNiduals 96,89S 96,895 70,138 70,138 167,033 167,033 Unrostrlcted lund$ General Re•trlctod lunds Total 2024 Donations and legacies.. Donations from indiwduals 103.312 103,312 108,012 108,012 4,700 Paga 15
Millfields Inspired Notes to the Flnancial Ststements for the Year Ended 31 August 2025 4 Expenditure on charltablo acuvltles Unrestrlcted funds Gener•1 Restrlcted funds Total 2025 Chartlable activity Staff costs Allocated support costs 28,521 63.850 10,499 102,870 Unrestrfctsd funds Gen•r•l 45,210 10,793 73,731 74,643 10,576 158,950 56.080 Restrfcted lund8 Total 2024 Charitable odiwty staff costs Alloc818d support costs 25,303 58.795 10,729 94,827 10.067 35.370 58,795 10,729 10,Q67 1 t>4,894 Actlvlty undertaken dlrectly Actlvity 8UPPOrt costs 2026 Premises costs Staff co8t8 Gèneral co818 Trip cos18 Fin8nce co8ls IT costs Adminislralitin costs DepreCtIOn 18,358 55.595 738 46,103 18,358 74,642 11.361 46,103 107 789 7,019 571 19.047 10,623 107 789 7,019 571 120,794 38.156 158.950 Page 16
Millfialds Inspired Notes to the Financial Statsm8nts for the Year Ended 31 August 2025 Actlvlty undertaken directty Actlvlty support costs 2024 Premises costs Stsff costs General costs Trip costs Finance costs IT costs Adminislr81ion costs Depreciation 14,916 39.749 736 19,718 14,916 58,797 2,563 19,718 108 3,922 4.523 347 19.048 1,827 108 3,922 4,523 347 75.119 29,775 104,894 S Net Incomlngloutyolng regourc•fj Net incoming re80urces for the year indude.. 2026 2024 Depraciation of fixed assets 572 347 6 Tru•t688 romunerntlon and •xp8n•e• No trustees, nor 8ny persons connected with thém, have received any remunerstlon from the charity durfng the year. No Irusloes have received any reimbursed expen8e8 or any other benefits from the charity during the year. Page 17
Miiifields Inspired Notss to the Financial Statements for the Year Ended 31 August 2025 7 Staff costs The aggregate payroll costs were as follows.. 2025 2024 Staff costs durlng tho yearwere: Wages and salari8S Pension costs Other Staff costs 71,217 3.258 168 55,276 3,370 149 74,e43 58,795 The monlhty averaga number of persons (including senior management I leadership leaml employed by the charity durlng the year was as foll¢)WS'. 2025 2024 Development No emploe received emoluments of more than £60,000 during the year. 8 Independent examln•Ps remunaratlon 2025 2024 Other fees to examlners The examining of accounts of any associate of the charity 1,320 1,250 8 Taxatlon The charty is 8 reqislered ch8rfly and is therefore exempl from taxation. Page 18
Millfields Insplred Notss to the FinanGial Statements for the Year Endad 31 August 2025 10 Tangible fixad assets Furniture and equlpmenl Total Cost Al 1 Seplomber 2024 Addf(lons 3,541 1,018 3,541 1,018 Al 31 August 2025 4,559 DeprecSatlon Al 1 September 2024 Charge for the year Al 31 August 2025 Net bookvalue 2,675 572 2,675 572 3,247 3,247 At 31 Augu812025 At 31 August 2024 1,312 1,312 866 866 11 Flx•d asset Snve¥tmants othér Investment• Invostmfrnts Total Cost or Valuatlon At 1 September 2024 5,000 5,000 Al 31 August 2025 Nel book value 5,000 5,LN)O Al 31 August 2025 5,000 5,000 At 31 August 2024 5,000 5,000 There wer8 no inv8slm8nt assets oulshle the UK. InveslmenlB were neither listed nor unlisted. Page 19
Millfields Insplred Notes to the Financlal Statements for the Year Ended 31 August 2025 12 Dabtors 2025 2024 Trade debtors Prepayments Accrued income Other debtors 5,473 1,294 833 167 275 1,224 $6,258 7,767 57,757 13 c11t0. amounls falllng due wlthln on• year 2025 2024 Trad8 cradltors Other laxalion and social 8ecurfy other cradrtors Accruals Deferred income 1,131 1,135 6,456 1,528 1,052 2,330 3,796 20,000 26.652 11,366 Page 20
Millfields Inspired Notes to the Financial Statements for the Year Ended 31 August 2025 14 Funds Balance at 1 Saptember 2024 Balance at 31 August 2025 Incomlng resources Resource8 expended Transf8rs Unrastrlct8d funds General General fund Community Engagement Staff Contingency Reserye Development and Innovation Reserve 45,806 76,895 1100,164) 5.320 27,857 17.776 20,000 12.7061 35,070 27.000 27,000 7,375 97,957 7,375 96,895 102,870 5.320 R•6trlctsd funds Grow Slonehouse Millfields Inspired Community Support Immer8ive Theatr8 Project The Prom Shop
lnspireme
International Dinner Social Supermarket 2,746 2,746 7,107 12,330 3.000 22,437 8,320 4.428 12,296 18,320) 890 (2371 {8.4271 5,081 3.869 2,150 2,150 7,352 Total regtrlctsd funds 34,897 56.080 5,320 Total funds 132,854 167,033 158,950 140.937 Page 21
Millfields Inspired Notes to the Flnancial Statements for the Year Ended 31 August 2025 Balance at Balance at 31 August 2024 Sgptembor 2023 Incomlng R¢sources exponded Transfer8 Unre8trfcted funds 08n8ral General fund Community Engagemenl staff Conling8n Reserve Development and Innovation R8serve 58,032 83,312 191,9731 (3,5651 45,806 630 20,0(10 12,8541 17,776 27,000 27,000 7,375 93,037 7,375 97,957 103,312 94,827 3.5651 Rostrictsd Grow Stonehou3e Millfields Inspired Communty Support Immersive Theatre PToj8cI The Prom Shop
lnspireme
Storytelling Clrcle Totsl re8tricted fund8 2,748 2.746 S,107 2,000 7,107 8,320 1,730 12,296 6,500 8,320 4,428 12.296 2,700 (21 10,C65 3,56S 36.699 10,067 3,565 34,897 Total funds 129,736 108,012 104,894 132,854 Page 22
Mlllfi8lds Insplred Notes to the Financial Ststements for the Year Ended 31 August 2025 15 Anatysls of n•t assets betweon funds Unrestrictsd funds Goneral Total funds at 31 August 2026 Restrlctsd fund8 T8ngible fixed assets Fixetsj asset inveslmnls Curnent 88sets Current liabilllies 1,312 5,000 117,642 26,652 1,312 5,000 161,277 26,652 140.937 43,635 Totsl nel as8818 97.302 43,635 Unreltrlctsd funds Goneral Total funds at 31 August 2024 R•gtrlcted funds Tangible fixed assets Fixed 8S8el investment8 Current assets Current liabilitie8 866 5,000 103,457 11,366 5,000 138,3S4 11,366 34,897 Total net 08sel8 97,957 34,897 132 854 16 Related party tran#actlon• There were no related p8ty Irangacllons in the year. Page 23