Company registration nuimber.. 07024301
Cliarily regislralion niimber: 1154113
M3 Project Limited
(A company limiled by guaraniee)
Ani)u41 Reporl and Financial Slatemeiils
for Ihc Year Ended 30 Sepleinb¢r 2024

M3 Project Llmited
Contents
R¢feren¢e and Administrative Detai15
Trnsl¢es' Report
2to5
Staleiiienl of T￿Slees, Responsibilities
Ii)dependenl Examiner's Reporl
Sialeiment of Financial Activities
Balance Sheet
Notes lo tlie Financial Slal¢menl$
1010 19

M3 Project Limlted
Reference and Administratli'e Delalls
Trustees
G Helm
J Coopcr
C Nelson
R Iveinhold
Cllarlty Reglstratlon Number
154113
Compan}, RegtslrAtloii Nuniber
07024301
The Charity is incoq)oial¢d in England and Wlales.
Sui1¢ 2 Si John's Couil
Baciip Road
Rossendale
BB4 7PA
ReEl$tered Offlte
Independent Exanilner
Helen Binns FCA
Beever and Siruihers
Charlered Accountants
One Express
l George Leigl) Sireel
Manchesler
M4 5DL
Page I

M3 Project Limlted
Trustees, Report
The twslees, who are directors for Ihe purposes of conipany law, PTesent tlK anjiual report together with tli¢
finaiicial slalen)ents of the cliarilable company for ihe year ended 30 SeplenibeT 2024.
Objectives and actlvltles
Objecls qliiis
Th¢ objeclivcs of Ihe charity are lo provide relief to yoiing people belw¢¢n the ag¢s of 16-25 years old in East
Laiicashire atid surroiiiidiiig areas. by Ihe provision of soci41 housiiig and aecoiitsnodatioii, including ¢m¢rgeiicy
supi)orted lodgings. supported Lodgings and move-on ac¢onm]odalioJi.
M3 Projecl supports young singles and parents wlio find thcmsclves living iii iiise¢i)re or unsafe
accomii)odalion. iiioving froin one place to another and '$ofa $urfiiig'. Ive believe Ihal every young person
slioiild liave u safe plA¢e to call liome, a placc Whe￿ Ihcy can thrive, aiid we Iiave worked loivards this aiii) since
2003 wlieij a gap in service provision was tdentifled and Siipporled Lodgings were sel up.
Over the past 20 yeaTS the projed has developed setviccs to reflecl that, and now have Ihree distinct selvice
areas lo support yoiing people who face homelessness.
Supported Lodgings (ages 16-21): A service where youiig people liave Il)eir owi bedioom in soiiieoi)e's
lioiiie aild gel day-lo-day supporl froni the household¢r along M'illi iailoTed suppori froin a M3 Siipporl
Worker. Ivorking iliTougli a supporl plan, youiig pcople eventually I￿0ve on iiilo Il)cir own accomniodalion
with lh¢ skills gnd knowlcdge lo suslain a lenancy.
Teenage Faniily Servi¢e (ages 16-21): A service for yoiing ihiinjs and niiii))s lo be, who inove into an
assiir¢d shorthold tenancy aiid receive Siipport aroiind pareiiliilg and t¢iian¢y inanagemenl lo ei)siwe a
positive Inove-on.
Tlic Lislciiing Project: A unique young person led 5CTvice for 16 and 17-ycar olds who are experieiicii)g
difficullies in Il)¢ir relationships 01 liojne and niay be al risk ofhotiiclessii¢s$. lJsing a trained peer nienlor, il
gives n you1)¥ person space lo IhTnk Ihroiigli oplions and families an opporlunily lo lalk logeiher and find
ioliilioiis for a beller way forward and prcvenl unplaimied Inovu and polenlial sofo surftng.
As o sniall leain of 2 full-time and 5 parl-lime einployees. Ihe projecl works with young people across Easl
Lancasliire encoiiraging Ilieiii 10 develop neiv skills. re4iigage willi family and frieiids, access education and
Iraii)ing or 8¢1 inlo ivork. Tailored supporl packages enable young people lo evenliially iiiove 01) into Ilicir owi
independenl accoinniodalion with ilie skills and knowlcdge lo suslain a tenancy; Il)¢ir safe place to call
hoinc.
Tlie organisalion continues lo campaign 81 local and national level around Ihc issues of hoii)¢lcssncs$ and Ili¢
iinpacl it llay on yoiing people,
Piiblic beiiefil
Tlic trustees coiifiri)I Il)at they have coii)plied wilh the requirements of se¢iion 17 of Ihe Charities Acl 2011 to
haiie due regard lo Ilic publT¢ benefit guidance publislied by the Charity Commission for England and Mlales.
Page 2

M3 Project Limited
Trustees, Report
Achlev¢ment$ and peYforni4n¢e
In November 2023 we celebrated our 201h Anniversary with slaff, Trnslees, Volunteers, former Service Users
and represenlalivc5 froni the I￿al coi))Inunity. In spite of the cost of living CTiSiS we were also pleased lo reacli
our anniial furtdraising larget. We have seen an increase in fundraisers organised by ¢on)ii)unity groups and Ilie
aii)ounl received ilirougli coimnilted regular donations has alt))osl doubled. Iii ihe circuii)slances we have been
able lo offer iiiore dire¢l fii)aii¢ial assistance to young p¢opl¢ experiencin8 IIArdsl)ip. as well as ￿￿terIal supporl
wlieii iiioving iii or i)ioviiig oi) froii) placenieiils.
Regislralion will) Ofsled undcr Il)¢ Supported Acconiniodalioii R¢gulalioDS (2023) was successfiilly coini)leled
on 2 January 2024. Inakii)8 the organizalion onc of th¢ vcry firsl in LaD¢asliirc lo gain rcgislralion slattis.
Charity Manoger Alai) DotTingion was also accepted lls Registered Service Manager for boih services and Nryll
lead the orgaiiizalioii into the Ofsl¢d liispeclion M'indow starting Sepleinber 2024. IVoTk for the orgaiiizalioj) lo
b¢coine inspe¢lioii-re8dy w8s completed al the end ofsumnxr 2024.
Tlie cliarily successfiilly ren¢ived ils main conlracts with Lancasliire County Council over tlie sull￿ter of 2024.
As part of a coinpelilive tendering process. both Supported Lodgings and Teenage family were awarded the
coi)Iracls for the Ensl Laiicashire foolprinl, securing a further 4 aiid possibly 7 years fiindiiig lo conliijue oiir
work in tliese spe¢iali$l a¢¢oiiimodation servic¢s.
New ¢onlr4cls sl8rt in November 2024 and sce an expansion in Tccnagc Family supported properties froin I I lo
14.
Lloyds Bank Fowidalion ¢ot)linued to support Ihe cliarity during 11)is peTiod a5 parl of tlieir core funding
progrAn)i)ie. LBF lias consislenily championed sinall but vitsl charities across Ilie country aiid Ilieir bleftd of
iiiireslricled ￿ndS backed up will) specialisi supporl fToni exlemal parlners aild ¢onsullanls lias ¢nsure 11)al M3
conliiiues lo Ilirive aiid develop.
Qiialily of Service revieivs are now carried out on a regular basis providing feedback froi)) yoiii)¥ peoplc Ilial
iiifurins oiir praclice. Tlie feedbork we have receii'ed has becii overwlicliiJii)gly postliv¢ and coiislnicliye. Sojiie
cxaimples ivlii¢li evidence our siiccesscs are as follows..
"M3 has conlribiiled lo my gr0￿h and development. I am now moTe confident. re5pecifiil and healthier. I have a
better oiillook oli life ii'ilh a bcller iindcrslanding of life skills siich as cookiiig ai)d laiii)dry. Iviihoiil the siipport
rToni M3 aiid my Host I woiild not be wher¢ l om today."
'Diie lo beiiig iji a settled home with M3 1 ivas able to focus more on me and iyhal I waiiled. I was able to go
back lo college ivhi¢h was a big slep. My coiifjdence lias goiie lip ond l ai)) noiv able to cook and cleaii up for
tnyself. l aiii lellniiiig lo driv¢ and have a lesl coming up. I liave also learnt to painl. decorate and do son)e
gardening."
'I am grateful lo iiol only liave a liomc for me and n)y daiigliler bul to have a lovely sllPPOrt workeT supportiiig
i))e wliile I'in here. I have learncd io n)anage a hoiisehold and organise bills. Il's giv¢ii iiie Ilie space lo beller
ii)yself ai?d live comfortably willi i)Iy gill.
Page 3

M3 Project Liinited
Trustees, Report
Ivvvibers in Sen'ices
Over Ihe Ixsl year. 7 single young p¢ople and 14 youiig Mun)s iviih 18 Children have n￿intained a stay in our
a¢¢oiniiiodation scrviccs for over 12 Inonihs. Tliere have been 5 successful niove ons wilh youi)g people taki118
up a¢¢omiiiodalion ofiheir iii order lo live indep¢nd¢ntly.
Oiir iiniquc Listening Project inentored and siipported 22 young people with Inenlal health issues, isolalion,
wellbeing issiies or wlio were al risk of hoiMel¢ssncss. Many referrals to this service have collie froni mental
healtli servie¢s based its local schools And we continue lo see an ongoin8 need for young person led one-lo-oiie
siipport and mentoring that is nol available elsewhere in the area.
Clialleiiges
Move on accomodfttlon
One of Ihe biggest challenges fll¢ing boih the charily and the iiidividual young people is a severely reslricled
supply of ii)ove-on accojninodalion. Private rented a¢¢oiikniiodalion is only affordable for youiig people wlio are
Ivorking it) reasonably well-remiin¢ral¢d jobs, os Teni payable I1￿oUgh b¢nefils coi)linu¢ to foll wcll behind
rapidly in¢rea6ii1g privule rents.
So¢ial liousing is now uiider extreiiie pressure in all the areas we WOTk in, and young people who are ready lo
niove are bidding for niany monilis wiihoul succes5 to secure Ilieir own social property. Tl)is is leadiiig lo
st8gnalion for youiig people ivho have worked hard lo build Il)¢ir coi)fideti¢e and skills lo live independently bul
are uiiable lo find Ilieir oii'ii 8c¢onimodalion lo niove on lo. Ive are working lo find solutions to Il)is issue, with
LCC Coiiviiissioners and olher local partners.
Hlgller needs young people
In coiw)ion with inany partner organisations, M'e are seeing larger Jiiinib¢r$ of referrals for young people with
higher support iieeds. These yoiitlg people are ofien coining froiii a ¢are-¢xperi¢ii¢ed backgroiiild aiid have
niuliiple issues for support based aroiind Iheir lived experience and adverse childhood experieiice5. In Iiiany
cases we are unable Io Tesponsibly meet Ihose supporl iieeds iviillin our two ac¢omJnod81ioii services, a situation
Ihai IiAS been uiiderpiiined by Ofsted re¢on)Inendaliotis Ilial young people willi liigl)er. ¢oJiiplcx or care needs
sliould nol be placed in regulaied services. Sadly, Illese yoiing people are nol 8livays receiving Ihe support and
advice Ilial they need.
Siipport aiid advice was delivered in boih acconiniodalioii services aroiind Ihe following issues:
Benefils or money
Ediication or training
Geii¢r#l issiies
Hoiisiiig oplioiis
lildepeiidenl Living Skills
Mett181 Heallli
Pareiiling skills
Physical health
Placenienl issues
Relalionsliips at home incl donieslic abuse
Self l)arii)
Ivork ai)d en)ploymenl
The Tnislees woiild like lo Iliank all staft and Host voliiiileeTS acros5 Ilie charity for all their hard Work aild
coivmilineiil in delivering high quality 5eTvices lo iqilnerable young people in oiir local area5.
Page 4

M3 Project Limited
Trustees, Report
Flnanclal revltw
The cllarily's income for Ihe year was £381,496 (2023: £354,881) and expenditure of £357,007 (2023.. £344,541)
leaving siwplus funds of £24.489 (2023: £10,340).
Pollcji oil resenies
After n)akitig appropria1¢ ¢nqiiiries, the Trusl¢¢s hay¢ a reasonable expeclalion that th¢ chfirity has adequale
resource3 lo conliiiiie iii operation for th¢ for￿ceable fiiftire.
The Chartty ll)aiiitains a reserves policy in order to pron￿1¢ sustainability and Bro￿h. This policy aiiiis lo
reserve 6 nionllis operating cosls alongside fi)nds allocaied lo ruwiing costs. staff training and cliarily gTowIII,
cU￿ent fr¢e reserves lield by M3 Project are sufficieiil lo cover 6 nionlhs opeTaling costs, in addilion lo
prol¢cl¢d r¢servcs ai'ailable for redundoncy c051s foT all slaff. M3 Projeel is conlinuing lo iiiake good progress
toivard a Inixcd aiid sustainable fvndinE s¢enaTiO based on grant funding. cl)8rilable giving and conlracls for
servi¢¢ d¢liv¢ry. Grant application aclivity is planned and nionilored on a quarlerly basis.
The total fuiids al 30 Sepleniber 2024 was £161.153 (2023: £136,664) of wliich all are iiiireslrfftcl¢d fiinds. Free
Teserves are £160.225 (2023: £135,426) after allowing for fiinds licd lip in fixed assels.
Slruclure? govcrnanee and managemont
Nftluie olgoileriilng docHNienl
M3 Projecl Liiiiiled is a coinpany liJi)iled by 8uaTantee and is governed by it's Menioraiiduni and Arlicles of
A350cialion dated 20 Seipember 2009, as aniended on 6 March 2021.
Recriiiliiieml rtiid appoliiliNeiil oflriislees
Truslees are appointed Iii Accordanee with Ib¢ Charity's Memoranduin and Articles of Asso¢ialioJi. Tlie Trustees
a8 charity Iruslees have ¢onirol ofthe Charity.
Majoy rlsks ffndiiirtiiageni¢iil ofihose rlsks
The Iruslees have a duty io idenlify and review Ihe Tisks to whicli the charity is exposed Jnd lo ensure
appropriate conlrols are iii place lo provide reasonable assurAnee against fraud and error.
Tli¢ Trustees have 8ss¢ssed the niajor risks lo which the c118rily 18 exposed. in parlicular Ihose related to Ihe
operalions and fii)8nce5 of Ili¢ chaTily, and ore satisfied Il)Ml sysleins and procedures aTe in place lo niiligale
exposiire lo Ilic m&jor risks. Significanl consideration lias beeii 8iv¢n in re88rds lo ofsled coiijpliaii¢e and Iliere
are aclii'c pla115 around iinplenieiilalion of the new siipporled Jccomiiiodalion regulalions.
Sii)ftll coinpanle5 provl$lon stAtement
This report has beeii piepared in accordance wilh Ihe sinall conipanies reginie under the Coinpanies Act 2006.
Tlje anniial report was approved by the Intslees of the charity on .....
G Heli
Page 5

M3 Project Limited
Statement of Triistees, Responsibllities
Tlie tnEsl¢es (who aTe also th¢ direclors of M3 Project Limiled for Ihe purposes of compaiiy law) are responsible
for preparing the trustees. reporl and Il)e fiiianci81 statements in accordance with applicable law and United
Kingdoni A¢¢oui)ling Slandards (United Kingdom Geiierally A¢¢epled Accouiiliiig Pra¢li¢e), including FRS
102 "Tlie Financial Reportiiig Slalldard applicable in the UK at)d Republic of Ireland"
Coi)Ip8ny law requires th¢ tnistees lo prepare financial slaleinents for each financial year. Under coinpany law
the trustees miist not approve Ihe financial slal¢ments unless they are satisfied ihtti Ihey give a tnie and fair view
of the slate of affairs of Ihe charitable coi)Jpany and of the incoming resoure¢s and application of resources,
iiicliidiiig ils iiicojne and expeiidittire. of the Charilable company for iblll peTiod. lil prepari118 Iliese finaiicial
$toleiiiei)Is. 11)e truslees aTe required 10:
select suilable accounling polTcie5 and apply thein consislenily:
observe Ihc m¢ihods nnd principle5 in the Ch8rilics SORP.
niake judgeinenls and esliniaies Ihal arc reasonable and pwdenl:
Stole wh¢ilier applicable accoiinling slandards, comprising FRS 102 liave been followed. subject lo ai?y
material depdrliires disclosed and explained in Ihe financial slaleiiienls- and
prepar¢ 11)e fiiiancial statements on the going concern basis unless il is inappropriate lo presuine Ilial tlie
cl)8rilable company will conlinu¢ in business.
The Iruslees are responsible for keeping proper a¢couiilii)g Tecords thal can disclose w'ill) reasonable accLif8cy al
any lime the fiiiaT)cial position of Ilie ¢118rilabl¢ company aiid enable Iliem lo ensiire Il)al th¢ financial slaleilients
coinply wilh Ilie Coiiipanies A¢1 2006. Tliey 8re also Tespoiisible for Safe￿13rding Ihc assels of tlie cliarilable
coiiipany and hence for laking reasonable steps for 111¢ pr¢i'enlion and d¢le¢lion of fraiid and oillcr irr¢gularili¢$.
Tlie Iru51ces are respo1￿1b1¢ for Ilie maintenance and inl¢grily of the ¢OTporate and fiiiaiicial iiiformalion
iiicluded on Ihe charitable ¢Oinpan￿S website. Legislation 8overniiig 11)e preparaiion and disseiliinalion of
riiiancial slateJi)enls niay differ fTOlh legislation in other jurisdiclions.
Approv¢d by Ihc Inislees of Ihe charity on .
signed on its behalf by:
Tnistee
Page 6

M3 Project Limited
Independent Examlner's Report to the trustees of M3 Project Limited ('the Compaiiy,)
I report lo th¢ Charity lrn$le¢s on n)y examiDalion of ihe accounls of Ihe Company for the year ended 30
Septeinber 2024.
Respoiislbllltl¢s bas1$ of report
As Ihe charily's Iruslees of Ihe Conipany (and also its direclors for ihe purposes of company laii,) you are
respoiisible for Il)e preparation of the accounts in accordance willi th¢ requireii)ei)Is of tlie Compnnics Acl 2006
('the 2006 Act.).
Having satisfied myself th81 Ihc accounts of the Compaliy are not TequiTed lo be audited linder Part 16 of the
2006 Act and ar¢ eligible for illd¢pendent cxaminalion, I report in respect of my exhmination of your charity's
a¢¢oiinls as c8rricd oiil iiiidcr seclioii 145 of the Charities Acl 2011 {'Ihc 2011 Act.). lil caryiiig out niy
exaiiitnalioii I have folloiyed Ilie Directioiis given by Ihe Charity Coli￿lISsi0n ui)der seclion 145(5)(b) of Ihe
2011 Acl.
Independont examlner's statement
Since (lie CoinpanJ4s gross incoiiie exceeded £250,000 your ex8miner musl be a i))ember of a body listed in
seclion 145 of 111¢ 2011 Act. l ¢onfinn Il)al l ani qualtfied lo undertake ilie cxaniinalion because l am a ii?eniber
of ICAEW, wliicli 15 one of Ilie listed bodies.
I have completed my exjminalion. I confirni Ihal no matters have come lo my altenlioii in connection with Ilie
exaininAlioii giving me ca115e lo believc..
accouijliiig records were nol kepl in respecl ofM3 Projeel Limited as required by se¢lion 386 of Ilie 2006
2. tli¢ ac¢oiinl8 do not accord iviih those r¢¢ord$' or
3. Ilie accounts do nol ¢oi))ply iyilh Ilie 4¢couiiliiig requiTemenls of section 396 of ihe 2006 Act oll)er Ihaii
aiiy requirciiient tlial the actounls giv¢ a 'lNe aiid fair vieiv which is not a iiialler considered as parl of an
ind¢peiidenl examination: OT
4. thc accoiiiils have nol been prepared in accordance wiih the rneihods and prin¢ipl¢s of ihe Stalemeiit of
Recoinmendcd Practice for accoijnling and Tepoming by charilics [npplicabl¢ lo charilics prephring their
a¢couiils iii accordaiice with the Finai)¢ial Reporliilg Stand8rd applicable iii the UK and Repiiblic of
Ireland (FRS 102)].
I liaiie no coiicems aiid l)ave conie across no olh¢r mallers in coniieclion willi Ilie cxuii)in4lion to ivhich Allei)lion
shoiild be drai￿ in Ihis rcpoil iii order lo enablc a proper iinderslanding of Ilie accounts lo be rcaclied.
Helen Binns FCA
Beever aiid Siruthers
Cliailered Accountants
Olle Express
l George Leigh Slreel
Mancliesler
M4 5DL
Dale'....l?..I,Q3.J..a.%.,.
Page 7

M3 Project Limited
Statenient of Financial Aetivities for Ihe Year Ended 30 September 2024
(liicludiiig Income and Expenditure Account and Statenient of Total Recognised GAins
and Losses)
Unre$trlcted
fund$
Restrltted
funds
Total
2024
Total
2023
Note
In¢oiiie Hnd EJidoivnient$ from;
Donalion5 alid legacies
Choritable oclivilics
lftiveslment income
46.831
322,260
,520
9,938
56,769
322,260
,520
55,500
298,693
688
Total incoine
370,611
9.938
380.549
354,881
Expelldlture on:
Raising funds
Cliarilobl¢ aclivilies
(812)
(345,309)
(812)
(355,247)
{712)
(343,829)
{9.938
Total expenditiire
{346.121
9,938
356,059
344,541
Nel iiiconi¢
24,490
24,490
10,340
Nel inov¢ti)enl in funds
24,490
24,490
10,340
ReconclllAtlon of funds
Tol81 funds brought fonvaTd
Total fiinds carTied fonvard
136,664
136,664
126,324
18
161.154
161,154
136.664
All of tlie cliarity's activities derive froni continuing operations during Ilie above livo periods.
The funds breakdow￿ for 2023 is shown in nole 18.
The notes on pages 10 to 19 fonn an inlegral parl of these finai)cial slRtei)ienls.
Page 8

M3 Project Llmlted
(Registratlon niimber: 07024301)
Balance Slieet as at 30 Septeniber 2024
2024
2023
Note
Flxed assets
Tangible assets
14
928
1,238
Current assets
Debiors
Cash al bank and in hand
15
16
14.933
152,828
16,508
126,884
167.761
143,392
Cr¢dltots: Ainounls f*lllng due wilhln one )'eAr
17
(7,535
7,966
Net current Y455els
160,226
135,426
Net assets
161,154
136664
Fuiids of tlie ¢l)Arlt}':
Unresti'lcted Ineoine fiinds
Unreslricled fvnds
161,154
136,664
Total fiinds
18
161,154
136,664
For Ili¢ fiiignci81 year eliding 30 Seplember 2024 Ilie charily was enliilcd lo exeii)plion froin audil under section
477 of Ilic Coiiipaiiies Acl 2006 Telaliiig lo small companies.
Directors, responsibilities,.
The mciiibers havc not TequiTed ih¢ ¢hnrity lo obtain an audil of ils a¢coiinls for th¢ y¢ar in qii¢$lion in
accordanc¢ with section 476. aiid
The directors ackiiowledge their responsibilili¢s for con)plying with Ihe requiremenls of Ille Act iviili respecl
to Rccounlin8 records and ihe preparalion ofa¢¢ounls.
The finaiicial slaleinenls oil pages 8 10 19 w¢r¢ approv¢d by the Inistees, aiid auihorised for issii¢ on
(.){¥S2,£ and si￿)ed on Iheir belialf by:
TNslee
Tlie notes on pages 10 to 19 fom] an integral part of these financial staleinenls.
Page 9

M3 Project Llinited
Notes to the Flnancial Statements for the Year Ended 30 September 2024
Charlty statiis
Tlie cliarity is liiniled by guaraiilee. incorporated in Englaiid and Wales, and consequenily does not have share
capilal. Eacli of Ihe Inislees is liable to ¢onlribule an ainounl nol exceeding £ I lowards Ihe assets of tl)e charity
in the event of liquidalion.
The address of ils regislered officc is:
Suite 2 Sl John's Court
Bicup Road
Rossendale
BB4 7PA
2 Aecounllng pollclei
Suminar}' of slEnl(A¢Allt w¢¢ountln% poll¢le$ and ke>, A¢¢ounilng estlnig1¢$
Tli¢ principal a¢¢oiinling policies applied in the pr¢parAtion of Il)es¢ financial slaleineiils are sel out below.
Thesc policies l)av¢ been consi51cnlly applicd to all Ihc years presenled, unless oilicnyise slated.
StRt¢iiieiil of ¢onipllan¢¢
The finftiicial slalei))enls have been prepared li) acconlonce wilh Accoiinling aJ)d Reporting by Clihrilies:
Slaleinenl of Recoihinended Praclice (applicable lo charilies preparii)g Ilieir accoiinls in accordgnce with Ihe
Financial Reporting Standard applicable in Ihe UK and Repiiblic of Ireland (FRS 102)) (is511ed in October 2019)
(Ch&rili¢s SORP (FRS 102)), the Finaiicial Reportill8 Standard applicable in Il)e UK aiid Repiiblic of Ireland
(FRS 102) atid the Coimpfjiites Acl 2006.
Ba515 of preparatlon
M3 Project Liiiiiled meets Ilie definition of a publi¢ benefil entity under FRS 102. Asse15 and liabilities are
iiiili8lly recogiliscd al llislorical ¢osl or Irailsaclion valuc uiiless oilierwise slated in Ihe relevaiit ac¢ounlin8
policy noles.
Goliig coiicorn
Tlie Inislees ¢onsid¢r that there #re no i￿Al¢nal iiiieertainlies Mboiil Ilie charitys abilily lo conlinue as a going
oiicem nor any 5ignifi¢anl aT¢a5 of iincertainly Illat aifecl the carrying value of assels held by the chaTiIy.
Exeniptlon from preparing fi cash Ilom stitemenl
The ¢harity opted lo early adopl Bulletin I published on 2 FebTU8ry 2016 ond have Ilierefore not include<5 8 cash
floiv slatenienl in Il)ese finailcial slaleiiienls.
Inconie and endowments
All iiicoiile is recognised once Ihe charity has enliileii)enl lo ihc incoiiie. il is probable 11181 Ilie income will be
received and the Ainoiinl ofihe income receivable Can be measuTed reliably.
Page IQ

M3 Project Limited
Notes to the Financial Statements for the Year Knded 30 September 2024
Doiinlloiis aiid legacie
Donalions are recogiiised wlien the charity has been notifi¢d in WTiling of boih Ilie ainounl and seiileinenl dale.
In the eveiil Ihal k donalion is siibje¢l lo conditions Ihal requiTe a level of perfomlance by Ihe charity before lh¢
Iiarity is enlitled lo the fiinds. Ihe inconie is deferred aiid nol recogiiised unlil ¢iiher those condilioiis ar¢ ￿llY
i)iel, or tli¢ fulfilinenl of those ¢ondition5 is wholly within Ihe conttol of th¢ charity aiid it is probable Il)nl these
condilioi)s will be fulfilled in the reporting pcriod.
Grrtiils reeelvable
Granls are Tecogiiised wlien Ilie charily lias an ¢nliilen)enl to th¢ ￿ndS and any coiidilions lii)ked lo Ilic granls
Iiai'e been iiiel. Where perforniaiice coildilions are allaclled lo Ille grant aiid are yel lo be Jiiel, Ilie incojne is
r¢cognised as u liabilily and included on Ili¢ bll laiiee sh¢¢l as deferred incoine lo be released.
liivejliiieiil iiicomie
Dividends or¢ re¢ognis¢d once th¢ divid¢nd has b¢¢n declar¢d and nolification has been received of tlie dividend
diie.
I xpendltiire
All expeiidiliire Is r¢¢o8nised once ihere is a l¢gal or coi)slThctivc obligation lo Ihnl expenditure, it is probable
seiilemenl is required and th¢ amount clln be n)easured reliably. All cosls •Tc allocated to Ihe applicabl¢
¢xpei)dittir¢ headii)g IhThl aggregate similar ¢osls lo Ihal ¢al¢gory. IVher¢ costs catuiot b¢ dir¢cily altribiilcd to
particular lieaditigs Illey liave been allocated on a basis coiisisleiil wilh the use of resources, willi ceiilral 51aff
costs &llo¢aled on the basis of lime spenl, and deprecialion charges allocated on Ille porlioii of lh¢ asset's us¢,
011)er support costs ore allocated based on the spread of slaff costs.
Ralsliigfiinds
These are eosls iiiciined in Aitra¢lii)g voluiilary income. the ittaiiAgement of inveslinenls aiid those in¢urr¢d in
Iroding aclivilie5 th81 raise fiinds.
Clifirliftble ficlivilies
Charitable expenditiire coniprises those costs inciirred by thc chArity iii the delivery of ils aclivilies and seryices
for ils b¢neficiRries. It incliides bolh ¢osls that can be allocated direcily lo such aclivities aiid those costs of ali
ii)direcl A￿ti]r¢ ne¢ess8ry to siipport Ihein.
Support costs
Support costs iii¢lude Central fiJnclions aiid liave been allocaled lo aclivity cosl categories on a basis Coiisislent
willi Ilie use of resources. for exainple. allo¢alii)g Properfy cosls by floor areas, or pcr capil8, slalT Costs by Ihc
lime spent and other costs by their us88e.
GovernAJiee eosls
Tl)¢se iiicliide Ihe costs attribiilable lo Ilie cl)arily's coiiipliance with constilutionlll and slatulory reqiiireinents.
including audit. stralegic nianagemenl and trnslees Inceliiigs and ieimbiirscd expeiises.
Goveriiment grants
Governn?enl grai)Is are recognised based on Ihe a¢¢n￿l niodel and 4r¢ measured al the fair value of ilie assel
received or receiiyble. Grants are classified as TelaliDg eiilier to revenue or to assets. Gran15 r¢lalillg lo reveijue
are Tecognised in income over ilie period iii ivliich the relaied costs are fecogtiised. Grants relating lo assels are
recogiiised over Ilie expected useful life of Ilic asset. IVI)¢re parl of a giant relaling lo ali assel is deferred, il is
recogiiised a5 deferred incoiiie.
Pagell

M3 Project Llinited
Notes to the Flnancial Statements for the Year Ended 30 September 2024
Taxatlon
The cliarity is considered lo pas5 the le515 sel oul in Paragraph I Schedule 6 of the Fiiiance Act 2010 and
therefore it meets the definition of a ¢liaiilable conipany for UK corporalioi) lax purposes. Accordiiigly, Ilie
cliarity is polenlially exeiiipl from laxalion in respect of income or capital gains received ii'iihin categorte5
covered by Cliapler 3 Parl I l of Ilie Corporalion Tax Act 2010 or Se¢lion 256 of Ihe Taxation of Cliargeable
Gains Act 1992, to tlie extent Ihal such income or gaiiis are applied exclusively to ¢liarilable purposes.
Tonglble flxed assets
Individual fixed assets are initially Tecorded at cost, less any siibsequenl accumulated deprecialion hjid
siibseqii¢nl acciiTiiiilaled iiiipaitThcnt losses.
DepreclAllon and AmDrilsAtion
Deprecialioii is provided on tangible fixed 855els so as Io WTile off Ihe cost OT valuation, less any eslinialed
re$idu81 value, over their expected useful e¢onorni¢ life as follows:
Asset class
Furniture and Equipni¢nl
Depreel4tlon method and rale
25•/0 Redvcing balance
TrAde debtors
Trad¢ debtors are Hmoiinls diie from cu81011)ers for merchaiidise sold or services performed in Ihe ordii)ary
Course of business.
Trade debtors aTe Tecognised initially al the Iransaclion Prtce. They are subsequently nieasured al ainorlised cosl
usii)g tl)e effe¢li%'e iiileresl m¢lhod. less provisioii for iinpaimient, A provision for the inlpoiriiienl of Iradc
debtors is established iyhen there is objeciive evidence 1118t Ihe charity will not be able io colle¢t all amounls due
according to Ilie ori8in81 teniis of the re¢eivable8.
Casli Aiid easli equlvaleiit$
Casl) and cmsh CqUiVi11¢iils ¢oii)pris¢ cash on l)and and ¢011 deposils. Jnd olher short-lenn liigljly liqiiid
inv¢stinenls that are r¢adily ¢onvertibl¢ to a known 8mounl of cash and ale subje¢l lo an ii)sigi)ificanl Tisk of
change in v81iie.
Fund stru¢tur¢
Unreslricled iticotne funds are 8ener81 funds Ilial are available for us¢ al Ilie truslees discrelion in furilieran¢e of
Ilie obj¢¢lives of the charity.
Pe115tons ind other post retlrenienl obllgatlons
Tlie ch2Tily opeTales a defincd conlribulion pension scheme wliich is a pension plan under whicli fixed
¢oi)Iribiilions are paid inlo a pension fiiiid and Ihe charily l)as iio legal or coi?slniclii'e obligalion lo pay furfl)er
onlribiilions even if tlie fiind does iiol liold sufficienl assels lo pay all employees Ilie benefits relaling lo
employe¢ service in the ru￿¢nI ond prior p¢riod5.
Conlribiilions lo defined conlribiilTOii plans ore recognised in the Sialemeiit of Fiiiancial Activities when Ihey #re
due. If ¢ontribiilion payments exceed the ¢onlribulion due for service. Ilie ex¢¢s5 is recognised a5 a pr¢paynieJit.
Page l2

M3 Project Limited
Notes to the Financial Statements for the Year Ellded 30 September 2024
Flnanclal Instrllmen¢5
Classificatlo
Financial assels and financial liobililies ore recognised ivhen 11)e charity becomes a party lo Ilie conlractual
provisions of lh¢ inslThixenl.
Finaiicial liabilities and eqiiity iiistninienls are c13ssified according lo ilie substan¢¢ of Ilie conlracliial
arraiigen)enls ciilcred ii)to. Ali eqiiily ii)slnimenl is any conlracl Ihal ¢vid¢n¢es a residual iiilerest ill ilie assels of
th¢ Charity after dediicling all of its liabilili¢s.
Recogniiloii ffiirf iiieasureineiil
All fiiigncial assets and liabilities are ii)ilially n)e8sured al transa¢lion price (including transaciion costs), excepi
for those financial assets classified as al fair value IhrouBli profil or loss, wliicli are inilially ineasiired al fair
value (which is Tlonnally the Iratlsaction pri¢¢ ¢x¢ludiiig lrnnsa¢lion cosis). unl¢$s Ihe OTTangciiienl coiislitules A
firtancing Iransaclion. If an arrai)g¢inenl conslilul¢s a financing traTisaclion, Ihe fiiian¢ial asset or financial
liftbilily is m¢asiired al th¢ pr¢s¢nl value of Ili¢ pa￿nentS discounted al a inarkel rale of Inte￿St for a
similar debi inslninienl.
Financial ossels and liabilities are only olTsel in the slatemei)l of fvian¢ial posilion when, and only w'li¢ii Ilier¢
exisls a legally enforccablc right lo sel off Ilie recogniscd amounts and th¢ ¢l)arity intends eillier lo settle oil a
net b88i$, or Io Tealise Ilie asset aiid seiile Ilie liability simulianeou$ly.
Finaiicial as5els are derecognised ivlien and only when a) Ihe contra¢tU81 riglils lo Ihe ea$li floivs froni Ilie
riiiancial assel expirc or are seiiled, b) Ilie chariiy trailsfers lo anoiher pally 5ubslanlially all of Ilie risks and
rewards of ownersliip of Ihe financial asset, or c) th¢ ¢harily. despil¢ liaving r¢lained soiiie, bul nol all,
5ignificanl risks and rewards of ownership. has Iransferred control of tlie asset lo anolher party.
Financial liabililies are derecognised only when the obli8alion specified in the conlract is discharged, cancelled
or expires.
3 Incom¢ from donAtIoiis And legR¢les
Unreslrlcled
funds
General
Restrlcted
funds
Total
2024
2023
Donalions and le8a¢ies:
Donations froin iiidivlduals
Gift atd rcclaiined
Granls, including capilal grants.
Governmenl grants
Gran15 froiii compailies
20.190
1,641
20,190
1,641
19,991
,259
9.938
9.938
25,000
25.000
34,250
46.831
9.938
56,769
55.500
Page 13

M3 Project Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
4 Income from ¢hRrll8ble activl¢le5
Unr¢slri¢led
funds
General
Total
2024
TotAI
2023
Grants received regarding accomoalioD and support
Housing
182.185
140.075
182.185
140.075
171,727
126.966
322,260
322,260
298,693
5 Inveslment Income
Unrestrlcted
(und$
Geiieyal
Totil
2024
Total
2023
Interest receivable Rild similar Income.,
Interest rcceivllble on bank d¢posils
1,520
1.520
688
6 Exp¢ndlture on rAisSng fuiids
) Costs of gen¢rAtlng donatlons And legacles
Unrtslrlettd
funds
General
TotAI
2024
Total
2023
Nott
Fuiidraisiii8 Costs
812
812
712
7 Expeiidllure charllable activilles
Unrestrlcled
fund5
G¢iier41
Rcstrlcttd
fuiids
Totil
2024
TOIRI
2023
Note
Hou5iiig ¢0515
Slaff travel
Depre¢iaiion
Staft"cosls
Allocal¢d siipporl
¢osls
Gov¢w])aiirc c051s
117.343
5.058
310
180.417
117.343
5,058
310
180,417
118,143
4,232
413
172,120
37,606
4,575
4.438
5,500
42,044
10,075
44,105
4,816
345,309
9.938
355.247
343,829
Page 14

M3 Project Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
8 AnAlysl$ of 801'eriiaiice and supporl ¢0sts
Supporl costs allocated to charllable A¢tlv111¢5
Tolal
2024
Total
2023
Pr¢inis¢s ¢osls
Jnsurance
Telephone
Coinpuler and IT costs
Bank cliarges
Office Adinin cosls
Suiidry ¢OSis
Legal aiid professioiial
16,521
4,052
10,679
2,544
104
,097
5,345
1,785
18.472
3,489
8,641
2,699
loo
1,673
6,974
2,057
44,105
42,127
Goi'trnanee costs
Re$trlcled
fuiids
Total
2024
Total
2023
Independent exai))incr fees
Exaniiiialion of the fiiiancial stslements
Oil)er fees paid lo exainin¢rs
oih¢r goiiernance costs
2,340
2,235
5,500
2,340
2,476
5,500
5,500
10,075
4,816
9 Nel Incomlngloutgolng resourcfs
Net inco1￿1￿8 rcsoiirces for tlie year incliide:
2024
2023
Deprecialion of fixed asscls
310
413
10 Trustees i'eniuneyfttlon and expenses
No Iruslees. A)or any persons connected with Iliem. have received any reniuneralioi) froii) Il)e charity during tlie
year.
No tnislecs have received any reimbiirsed expenses or any ollier benefils froin Ilie charity duriiig Ihe year.
Page 15

M3 Project Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
I I Staff costs
Tlie aggregale payroll costs were as follows:
2024
2023
StAff eo$t8 diirlng th¢ year iiere:
Ivages and salaries
Social seciirity Costs
Pension costs
166,641
8,791
4,985
158,541
8,244
5,335
172,120
180,417
The tiionlhly average number of persons (including senior inanagem¢nl / l¢ad¢rship teani) employed by the
charity during ihe year was as follows:
2024
2023
No
Head eouni
Full-lini¢ equivalcnl
No ei))ployee received eiiiolumenls of inore than £6&,000 durin8 Ihe year.
The total einployee b¢nefils of the key managemenl personnel of ihe cl￿rity ivere £44,083 (2023 - £39,549),
12 Indep¢iident exRmlner'i remuneratlon
2024
2023
Exainiiialion ofiiie financial stalcmenls
2,340
2,340
Otlier fees to examliiers
All other services
2.235
2,476
Page 16

M3 Project Llmited
Notes to the Flnanclal Statements for the Year Ended 30 September 2024
13 TaxRtIoii
The ¢harity is exempl froni 18x on income snd gains f811ing within seclion 505 of ihc Taxe5 Act 1988 or section
252 of tlie Taxaiion of Cliargeable Gains Aci 1992 10 Ilie exlenl tlial Ibese are applied to ils ¢liarAlable objects.
14 Tangible fixed assets
Furnllure Ind
equlpment
Total
Cost
Ai l October2023
16,720
16,720
At 30 September 2024
16,720
16,720
Depreelatlon
Al l October 2023
Cliarg¢ for the yeAr
15,482
310
15.482
310
AI 30 Septeniber 2024
15,792
15,792
Net book i'glue
AI 30 SepiembeT 2024
928
928
AI 30 September 2023
1.238
1,238
I S D¢btors
2024
2023
Trade debloTS
Prepayments
14,256
677
10.415
6,093
14,933
16,508
16 CA8h 4nd cash equlyfilenls
2024
2023
Clsli on l)Ind
Cash al bank
138
152.690
54
126,830
152,828
126,884
Page 17

M3 Project Llmlted
Notes to the Financial Statemenls for the Year Ended 30 September 2024
17 Credfitors: aniounts faRlfing dye N'lthln ont >¢ar
2024
2023
Other t¥txalion find so¢ial seciirily
Otlier creditors
Accrnals
2,633
1,063
3.839
2,865
1,261
3.840
7,535
7.966
18 Funds
Bnlaiice at 30
Septembei.
2024
BAlance at I
October 2023
Incomlng
re50ur¢e$
Resourcts
expended
Unreilrlcted funds
Gemerrfl
Geiieral Funds
136.664
370,611
(346.121)
161,154
Restrlcted funds
Lanca511irc CoLiiily Council
9,938
9,938
Tolal funds
136,664
380,549
356,059
161,154
Bmlaiiee ￿¢30
Septeniber
2023
Balance at I
O¢lober 2022
Inconillig
resoiirees
Re5011r¢e$
expendtd
Uiirestrleted funds
Gemeinl
General Funds
126,324
354.881
344.541
136,664
The specific purpose5 for which Ihc funds aTe lo bc applied are as follows:
Liicasliirc Counly Coiiiicil - lo ￿1)d Ofsted regislralion fees and training costs.
Poge 18

M3 Project Llmited
Notes to the Ffillancial Statements for the Year Ended 30 September 2024
19 Analysls of ilet a$$ets between
Unrc51rlef¢d
unds
Gcncral
Total fiiiid$ at
30 Septeniber
2024
Tai)gible fixed assels
Curr¢iit assels
Current liabilities
928
167,761
(7,535)
928
167,761
(7,535)
Total tiet assets
161,154
161,154
Unre$trlcttd
funds
Gener*1
TotAI fiinds at
JO Scpleniber
2023
Tai)gibl¢ fixed Sssels
irrenl assets
irrenl liabilili¢s
1,238
143,392
(7,966
1,238
143,392
{7,966)
Total iiet a5$els
136,664
136,664
20 R¢lat¢d party IransAetlon$
Tliere were no Telaied party transactions in Ihe yellr.
21 Prlor year Statement of Finaiiclal Acllvllles
UnYestrlct¢d
funds
Tolal
2023
Inconie Aiid Eiidowmenls from:
Doi)alions aIid leglicies
Charitabl¢ #¢livilies
Inveslmenl incoine
55,500
298.693
688
55,500
298.693
688
TolAI incoi)ie
354,881
354,881
Expendllure on:
Raising fiiiids
Cligrilable aclivilies
(712)
(343,829)
{712}
(343,829}
Total expei)diliiT¢
{344,541
344,541
Nel illcoiiie
10,340
10,340
Net Inoveinenl in funds
10,340
10,340
Reconelllatlon of flind$
TotAI fiinds brought fonvard
126,324
126,324
Tolal fiinds carrled for%rdrd
136,664
136,664
Page 19