ANNUAL REPORT
& FINANCIA
STATEMENT
THE PRINCESS
PROJECT
2024
Registere
tharity Number 1155021

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
CONTENTS
Pagelsl
Trustees, Annual Report
2-18
Independent Examiner's Report
19
Statement of Financial Activitie5
20
Balance Sheet
21
Statement of Cash Flows
22
Notes to the accounts
23-35
Page I

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
TRUSTEES, ANNUAL REPORT
The trustees present their trustees annual report together with the financial statements of the
charity for the year ended 31. March 2024. The financial statements have been prepared in
accordance with the accounting policies set out in note I to the accounts and comply with the
charitls governing document, the Charities Act 2011 and the Statement of Recommended Practice:
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (second edition- October
20191.
OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT
The objects of the Princess Project as set out in its governin8 document are:
the promotion of social inclusion for the public benefit amongst mothers between the ages
of 16 to 30 who are socially excluded, by means of employment, financial hardship, age,
substance abuse or dependency, relationship/family breakdown, poor educational or skills
attainment, poor physical or mental health. This is achieved by providing a befriending
scheme and drop-in support, to relieve the needs of those mothers and their children and to
assist them to Integrate into society.
to advance education in accordance wlth Christian principles by runnin8 parenting courses,
and to teach or provide training for parents in other life skills such as nutrition, budgeting
and first aid,
to relieve financial hardship among new parents and their dependents by providing good
quality second- hand baby and toddler clothing, equipment and toys free of charge.
to advance the Christian faith in accordance with our statement of faith.
The trustees confirm that they have referred to the Charity Commission's Euidance on public
benefit when reviewing the charivs aims and objectives and in planning future activities. The
objects are achieved through a variety of activities:
Mum2Mum Befriending Service
Princess Project New Mum gifts
Parenting Programmes
Shine Course
Totcycle
Drop-in support at our Mums, Hubs
Supporting mums in the community
Providing supported volunteering opportunities
Runnin8 free family-friendly events
Hope Café
Page 2

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
INTRODUCTION
There never seems to be a 'normal' year at the Princess Project. There always seem to be new
projects, new developments, new opportunities, as well as new challenges. This year was no
exception.
This year we have opened three new Hubs, two in Kent- Sheerness and Tonbridge- and one as a
remote replication in partnership with Word of Faith Centre in Luton, Bedfordshire. It has been so
excitin8 to see mums in these areas start to build community both with u5, and with each other. We
have started running the new Babies Matter course la resource developed by the amazing team at
Kids Matter). We have seen our Hope Café faith community grow both numerically and in terms of
relationships, both with each other and with God. We've held more outreach events than ever.
It would be wrong to say things had all been straightforward, however. We had to cancel our main
fundraiser, our Enchanted Forest Ball, due to a lack of ticket sales, which was very disappointing for
the fundraising team who had put such a lot of effort into planning it. Our partnership with Edge
ministries entered a new phase as Karen Tullett left our team to become Edge CEO, and so we have
downscaled our plans for Chesterfield, which will become a remote Totcycle replication. Several of
our staff team have had significant personal challenges to navigate.
But God is always at work, a5 much {or even morel when things don't go according to plan as when
they do. The gap in the fundraising budget left by the cancellation of the ball was more than filled by
our biggest grant award to date, from the Community Organisation's Cost of Living Fund. The
reshuffle of our staff team meant that we could increase the hours of our Sheppey Community
Support Worker to meet the growing needs in that area, as well as employ a new Community
Support Worker to oversee the work in Tonbrid8e. We have trained up new Hub team and
Mum2Mum volunteers to meet the growing need. We continue to see amazing answers to prayer
every dayi whether those are small things {finding exactly what a family needs at Totcycle) to the big
things (the right fundin8 comin8 along atjust the right timel.
As I reflect on the year that has passed, like always l am blown away by the goodness and
faithfulnes5 of God, and also by the absolutely incredible people who make up the Prince55 Project
team. From the dedicated staff team who work so hard to support our mums {and each other), to
the frontline volunteers who make a tangible difference to the lives of vulnerable families every day,
to the behind-the-scenes team who provlde leadership, strateglc oversight, financial support, and so
much more. The end result is Infinitely greater than the sum of all the parts.
However you have been involved this year- thank you. I hope the following report encourages you
and helps YOU to understand exactly what has been going on behind the scenes. We always love
having visitors at the Prlncess Project so if something you read makes you want to find out more,
please do contact the office, and we can arrange for you to come along and meet the team and see
first-hand what we do.
Thank you for your support.
Emma Tanner
Founder/CEO
Page 3

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCE: HOW OUR ACTIVITIES
DELIVERED PUBLIC BENEFIT
THE
Princess
PROJECT
2023-24
TIMELINE
As well os gll of our regular
s•rvlc•s. wè hod plenty of
other actlvltles golng on
throughout the yeor...
Growing Teom
W• ￿re vèry txdt•d to
w•lcom• Mary back toworK
aTrJ alEo to w•lwm• 14oMah to
ouritornl
Apr
Klds Matter
w• h•ld o Klds Matt¢r CC*uf5•(a
por•rthg courn• d•*n•d lor
dknadvaniaged lomiii•$) Park
W4)od, MO￿$*¢n•. ¢md tfalD•d
vp wrn• gf pvr t•urn to d+1￿•T
rh• nw* Bqtth ¢ow¥•
tor ¢WW and •yp•aont
purent5.
May
Befrlender Tralnlf4 C<>urte
Wq helll u couts• for n•w
voluM••r b•frKIDd•r¥. tra1￿￿9
up 6 womeh from ¢*ff8rent
Jun
Summer fun
¢om• along￿d• younq mumb In
n••d gfwpport.
W• h•ld 4 all-ag• picniu grKI S
Totcyct• ￿￿11￿1¥ •VW th•
svmm•rhglthy4 •Mudry
r*nt¥ ¢•ukl ot41 sockillm Imd
o•t •SMfflkili for th•ir hlt
ob)M wh•n th• Hubi w•r•
clos•d.
Jul
New Hubs!
W• tfolty•d up 2 brona
volfftwr r•ami.ond ¢p•n•d I
n•w Hvbi TOtW￿ c•ntr•*
She•fn•si ond Tonbrldg•,
and qukkly •tort•d w•l¢tynln9
mlll•s to th*w n•w
v•nuw.
Aug
Open Doy
W• wn•d th•4oor• ol rA
MO￿610n• Hub In￿*•&
Sep
4vpport•r& v¢lfftW•rn Qtid (4)f
courn•>our mufft••lono ttsf*d
out rnpr• abovt whot w•
Conference
Oct
behlnd Ihe Kgnebl
In Mok15Mn•. wllh gu•tt w•oker
cordle. kjoking Qt howwe
can Mrv• tsur communiths
¢ter wh•n w•'r•
orking In Wrtn•r•￿.
Courses
Nov
ID Nov•mbgrw• h#ld o Shin•
ows• In Park Woud. tts show
our murni thai lfv•# h¢w•
meonlng. purpose an¢ vulv•.
W•01￿ ron our ¥•ry Ar•t
atsb￿ Mtstt•rcaur8•.
Chrlstmas festlvltles
We helcl 5 Chdstmos pori*s.
hud o stall ot 3 ottt•r evon
and. tlonk6 to•urg•n8rty
pport•r*. gQW•OUt w•￿Thts
io tsll ourrnuml orMI th•lr
chlldrnft. HO ho
Dec
Volunteers, Celebrotion
w• ceiebroted all ot our omazh
volurtws In a Spuntsh-fhem
fiesiu. Ev•ryth'i h￿hl￿t af
lh• n4qht Is 01¥￿￿50Ur coYet•d
vrAuntw oward¥ ¥Jhlth thls
year Incluoled-smilW¢
)orl*ta- and"ctearing.up
Jan
Mother's Day
We cgknbroied our rnumson
th*k dtsy. g￿ngt￿ffi
•¥ch a d•ll¢ious gftorrtopn tqo
9V￿r0¢￿¥ glfted
ono of otrr oma21nq supportors.
10 5tsU Wl don* forthè
arnoz*4hob Ih•y du.
Feb
Replication
w• op•n•d a n¢w remot•
rqplktst￿1, th18 tim• a Mum•'
ubtn Luion. run bu our
parTnw&at word of Fakh
Mar
Page 4

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
PRINCESS
PROJECT
A YEAR IN NUMBERS
3,179
HUB VISITS: 1.550 ADULTS.
1.629 CHILDREN
Our Mum5' Hubs provKle a saf
welcomlng envlronment for vulnerable
mLsms, and play spaces for thelr
(hlldren.
TOTCYCLE VISITS
648
Totcycle Is our baby and toddleri.:
goods exchange, providing good:
qualSty second hand baby
and toddler clothes, ioys, books
and èqulpment free of char8e to,..
anyone who
need51t.
91
MUMS RECEIVING
INTENSIVE 1-TO-1
SUPPORT
from our team of volunteer
befrienders, or our staff team. Our
team provlde conslsteni lon8.term
non-judgement31 support and
encouragemenL buildlng self-
esteem and Improving the emotional
and mental health and wellbein8 of
mums taking par¢ and reducing
thelr social isolation.
GIFTS GIVEN TO MUMS
245
to make them feel valued and
speclal. and to remlnd them that
they are loved.
15
MUMS ATTENDED
ONE OF OUR COURSES
gainlng important 5kllls and
buildlng self-confidence,
through Shine and Klds Matter
FAMILIES SUPPORTED
IN TOTAL
620
We helped over 600 Fndlvldual
famllie5 this year, Ehrough one
or more of our 5èrvites
Page 5

The Princess Project Annual Report and Financial Statements for the year ended 31. March 2024
VOLUNTEERS
None of our work this year would be possible without the help of our amazing team of volunteers,
who donated a grand total of 2,142 hour5 (thays almost 90 daysll of time to us this year.
Princess Project Volunteers 2023-24
30
Hub Team
980
volunteer hours donated
20
Befrienders
960
volunteer hours donated
Other volunteers:
(deliveriesl sorting.
courses, fundraising,
new mum glfts.
prayer team)
15
84
volunteer hours donated
Tru5tee5
96
volunteer hours donated
Professionals
donatlng their tlme
and expertise- IT,
payroll. accountancy
5ervice5
22
volunteer hours donated
Page 6

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Our Impact
We ask the mums we
support what
difference the
l.()s4 jgi 11,11 (J< I
l('I i](iii' i)(>(11)l('
Princess Project
makes to them, by
means of termly
anonymous
questionnaires.
)¢ll'C'III iII,4
Page 7

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
WHAT OUR CLIENTS SAY ABOUT US
66
66
The parenting
course has allowed us
[my partner and 1] to
see how even though
we want the same thing
wlth our parenting we
have different ways of
doin
it. Princess
Project
as allowed us
to use both ways to deal
with difficult
situations together,
They have made
me feel so much more
supported. including
making me feel I have
a safe space and
somewhere to go
when I'm struggling
with my mental
health.
I was greatly
pported with guidance
on items I need to get for
the baby. and Princess
Project gave me a lot of
baby items which took
away the anxiety of me
having to buy them. In
addition. after baby was
born, I got that face to face
support. staff came to visit
and made feel less
isolated.
66
It has made me feel
loss isolated and gavo me
a reason t¢ get out the house
every week which was very
upliftlng. I receive messages
from individuals from PP
checking in and it's such
lovely community In whlch I
fe81 really ¢arÈd for. l am also
very
rateful for the
befrlendyng sgrvice whl¢h I
have just started wlth a lovely
ladyfrom PP and l am very
happy wlth meeting regul I
and feel it has a
reat
Impact on my V41eRbeln9.
66
66
It has provided a safe
lace for my son to
and socialise and
face for me to chat
about the challenges I
face in parenthood.
It as made me feel
less isolated. made
some new friends
and feel part of a
community.
Page 8

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
WHAT OUR PARTNERS SAY ABOUT US
The Princess Project Is an
invaluable service for Kent, we
have received 5UPPOrt for many
ears for our families through
e services that you offer. With
rislng food and finance FX)verty
we have seen an increase In
access to our services for
su
port and we would not be
abre to implement a lot of the
support requested without the
Princess Project accepting some
of the families in need.
Early Help Worker
I find the referral process
to Princess Project for
practical support quick and
easy to make . with a fast
response.
It is 9reat that PP then take
the time to contact parents
directly to offer support.
'Famlly Support Worker,
Children in Care team
The Princess Pro
ect have
alwa¥s been su
port
ve of our
families In nee
and flexible in
the support we have needed.
Maldstone needs the Princess
Project and on behalf of the
Dlstrict Earl Help Team we are
grateful to
e able to refer and
work with the se￿iCe to ensure
vulnerable families and children
have the essential Items and
support they need to thrive.
The Princess Project is my
most fantastic findt I have
used it a lot and have always
come away so pleased as
have all our families. I have
found the seNic• real
efficient and so helpfv .
School FLO. Maidstone Rural
Senlor Early Help Worker
Page 9

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
A YEAR IN PICTURES
i/
Page 10

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
FINANCIAL REVIEW
Total Income 2023-24
120000
100000
80000
60000
40000
20000
li_-
Overall income increased by almost 12Yo this financial year, with this increase coming from an
increase in donation income (see graphic below for breakdown). Income from other trading
activltles remained almost Static. "Other tradin8 activities" represents fundraising income,
replication income and income from selling on unwantedlunsuitable fabric donations. This figure
remains well below our £10,000 target, primarily due to the ongoing challenges around fundraising
post-covid and due to cost of living pressures,
Page 11

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Donation income can be split up as follows:
Donation and Grants Income 2023-24
Dtrnatlon5 from Indlvldual$
Donatlons from Organlsatlons
7.5
Donatlon of Goods and Serylt•s (Glfts In Klndl
14.3%
Grants
67.Z¥¥
67.2% of donations income this financlal year came from grants from a number of different funders
{details of all of these can be found in note 14 of these accounts.) This is a slightly higher proportion
of total income than in the last financial year161%) and we are very proud of our track record in
securing 8rant funding to support the growth of our work despite the challenging financial climate
for charities and the increasing competition for grant funding.
As the cost of living crisis has bitten, we have seen the proportion of donations from individuals we
have received this year fall compared to the previous financial year (Il% as opposed to 17Yol, and
income from organisations (mostly churches but some businesses also) has remained stable17.5%
this year as opposed to 7% last}. Increasing both of these sources of income is a target for the next
financial year.
Donations of goods and services represent storage, office and meeting space; items for new mum
gift bags, and gifts for Mother's Day and Christmas; new Totcycle items such as nappies and babv
formula; and IT, payroll and accountancy/independent examination services. We are tremendously
grateful for this support and without it we couldn't have provided the level of services we have
achieved. The value of all donated goods and services are matched by corresponding costs shown
either within direct charitable activity Costs or support costs within the year.
Page 12

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Total Expenditure 2023-24
120000
100000
80000
60000
40000
20000
li_-
The amount we have spent on charitsble activities has increased at the same rate as our income,
around 12%. The cost of raising funds has not changed appreciably since the last financial year.
As can be seen from the graphs below, our pattern of expenditure looks broadly similar to last year.
Our Hubs remain our biggest outgoing, followed by Totcycle- spending has increased on both of
these services, reflecting us opening Hubs/Totcycle in two new locations, Sheerness and Tonbridge.
Spending on outreach and events and one-to-one support have both increased, reflecting the new
Pastoral and Prayer Support role we have created, which is allowing us to provide one-to-one
SUPPOrt to up to 50 mums every week, as well as the increased number of outreach events we held
at Christmas and during the summer holidays due to bein8 active in 2 new Hub locations this year.
We launched Hope Café at the very end of the last financial year and it has continued to grow
throughout this year, and therefore represents a new stream of expenditure in this years, accounts.
Pa8e 13

The Princess Project Annual Report and Financial Statements for the year ended 31st March 2024
Expenditure on Charitable
Activities 2022-23
Mum2Mum ILo¢al proj?ctsi
Project Repllcatlon
N•W mum slft baK5
i.tfy1 support
Totcyrle
Coursts
Outrèach and evenis
10.000
20.000
30.000
40,OOQ
Expenditure on Charitable
Activities 2023-24
Mum2Mum
Project ftepllcatlon
New rnum 81ft b88S
i.tOll1 5UPPOrt
Totcycle
Coyrs•s
Outr•a¢h and events
Hub
Hope Cafè
40000
Page 14

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
RISK MANAGEMENT
The board of Trustees continues to assess. identify and address areas of risk and to put controls in
place to minimise these. Key controls include-
Formal agendas and minutes for all board meetings;
Regular financial reviews including preparation of management accounts, budgeting and
reviews of reserve levels;
Formal procedures for safeguarding children and vulnerable adults;
Regular review of compliance with data protection legislation.
Risk assessments of all publicly attended activities;
Development of written policies and procedures surrounding volunteer grievance, equal
opportunities and diversity, media and social networking, confidentiality, lone working and
personal safety, and talking about faith guidelines;
Development of strategic plans; and
Regular trainin8 for staff and volunteers.
RESERVES POLICY
The trustees understand the importance of maintaining a level of reserves to enable them to
continue to offer services during periods of financial uncertainty. During the year the trustees assess
the current level of expenditure and the need to hold reserves to meet the notice costs associated
with the employment of the staff team in the event of a sudden change in circumstances. The
trustees consider that a reserve level of £26,400 was sufficient to meet these costs and to fund the
current level of volunteer led activity for 3 months.
The total free reserves of the Princess Project after adjusting for fixed asset5 and restricted funds
amount to £42,132.
PLANS FOR THE FUTURE
Our plans for 202415 include:
To build relationshlps with churches across the country who are interested in replicating
Mum2Mum and/or the Hub and Totcycle, through attending Christian events and festivals
To explore other local replication opportunities
To train up more of our team to deliver Babies Matter, with the aim of rolling out this course
across all our Hub locations
To open more Hope Café's across our different Hub locations
To design and conduct a research project to represent the voices of our mums to decision
makers, and up5kill our mums in the process
Continue to build relationships with local churches and professionals
Grow our volunteer team to reflect the increasing demand for our services.
Page 15

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity Is 3 registered Charitable Incorporated Organisation (charity number 1155021) and is
governed by the terms of its constitution.
Trustees are appointed by the current trustees. Trustees retire by rotation every 3 years and can
stand for re-election at that time. The constitution stipulates that there should be a minimum of 3
trustees and a maximum of 12. The day-to-day operation of the charity is dele8ated to the CEO.
When ski115 gaps are identified by the board, potential new trustees are sought to meet these needs.
The trustee board meets at least 4 times per year, and more often where needed.
KEY MANAGEMENT PERSONNEL REMUNERATION
The trustees consider the board of trustees and the chief executive a5 comprising the key
management personnel of the charity in charge of directing and controlling the charity and running
and operating the charity on a day-to-day basis. All trustees give of their time freely and no trustee
remuneration was paid in the year.
Details of trustee expenses and related party transactions are disclosed in note 10 to the accounts.
Trustees are required to disclose all relevant interests and reglster them with the CEO and in
accordance with the charity's policy withdraw from decisions where a conflict of interest arises.
The pay of the charity's CEO and other staff is reviewed annually. We pay the community support
workers the hourly rate recommended by the Living Wage Foundation.
Page 16

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
REFERENCE AND ADMINISTRATIVE INFORMATION
TRUSTEES
Jane Negus
th
Chair of Trustees (until 19 September 20241
Angela Trigg
Secretary
steve Ring
Treasurer (trustee until 5 September 2023)
Bobbi Ezeike
Rev. Phil Goodey
th
(trustee until 10 July 2023)
Jamieleigh Mace
th
{trustee since 20 November 20231
Leon Mileham
th
th
{trustee since 20 November 2023, chair since 19 September 2024}
Claire Pamberi
th
(trustee since 30 October 20231
Joy Uba
th
(trustee since 20 November 2023}
Helen Williamson
Prlnclpal Office The Princess Project, Maidstone Community Support Centre, 39-48 Marsham Street,
Maidstone ME14 IHH
Independent Examlner Edward Rands FCA, 16 Mill Close, Shepshed, Loughborough,
Leicestershire LE12 9UA
Prlncipal Banker CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
Page 17

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS
The charity trustees are responsible for preparing a trustees, annual report and financial statements
in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom
Generally Accepted Accountin8 Practice). The law applicable to charities in England and Wales
requires the charity trustees to prepare financial statements for each 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
of the charity for that period.
In preparing the financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material
departures that must be disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable
accuracy at any time the financial position of the charity and to enable them to ensure that the
financial statement5 comply with the Charities Act 2011, the applicable Charities (Accounts and
Reports) Regulations, and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the charity and takin8 reasonable steps for the prevention and detection
of fraud and other irre8ularities. The trustees are responsible for the maintenance and integrity of
the charity and financial information included on the charity's website in accordance with legislation
In the United Kingdom governlng the preparatlon and dissemination of financial statements.
th
Approved by the trustees on 14 January 2025 and signed on their behalf by:
Leon Mileham
Chair
Page 18

5t
The Prince55 Project Annual Report and Financial Statements for the year ended 31 March 2024
Independent examinerfs report to the trustees of The Prlncess Project
I report to the charity trustees on my examination of the accounts of the charity for the year ended
31 March 2024 which are set out on pages 20-35.
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 20111'the Act,),
report in respect of my examination of the charitvs 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 14515llbl of the Act.
Independent examlner's statement
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 beSieve that in any material respect..
accountlng 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
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.
Edward Rands FCA
16 Mill Close
Shepshed
Loughborough
Leicestershire
LE12 9UA
Date: 18 January 2025
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The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Statement of Financial Activities
For the year ended 31" March 2024
Unrestricted Restricted
2024
2024
Total Unrestricted Restricted
2024
2023
2023
Total
2023
Notes
Income from:
Donations
37,678
5,623
43,301
77,182
114,860
5,623
120,483
37,429
5,016
42.445
62,037
99,466
5,016
104,482
Other trading activities
Total
77,182
62,037
Expendlture on:
Raising funds
Charitable activities
4,050
36,743
40,793
4,050
118,224
122,274
4,455
47,170
51,625
4,455
58,011
105,181
58,011 109,636
81,481
81,481
Total
Net Movement In
Funds
2,508
14,299) (1.791)
(9,180)
4.026
(5,154)
Reconciliation of funds
Total funds brought
forward
13114
40,865
22,847
63,712
50,045
18,821
68,866
Total funds carrled
forward
43,373
18,548
61,921
40,865
22,847
63,712
Page 20

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Balance Sheet
As at 315t March 2024
2024
2023
Notes
Fixed Assets
Tangible Fixed Assets
1,241
334
Current Assets
Debtors
Cash
Total Current Assets
1,679
59,001
1,359
62,169
60,680
63,528
Creditors: amounts fallln8 due In one year
150
Net Current Assets
60,680
63.378
Net Asset5
61,921
63,712
Total funds of the charlty:
Unrestricted Funds
Restricted Funds
15
43,373
18,548
61,921
40,865
22,847
63,712
Total Funds
Leon Mileham
Chair
th
Approved by the Trustees on the 14 January 2025
Steve Ring
Treasurer
Page 21

The Princess Project Annual Report and Financial Statements for the year ended 31. March 2024
Statement of Cash Flows
For the year ended 31st March 2024
2024
2023
Notes
Net cash outflow from operating
actlvltles
16
(1,558)
(5,186)
Investing activities
Purchase of tan8ible fixed assets
(1,610)
Decrease In cash for the year
(3,168)
(5,186)
Cash at the start of the year
62,169
67,355
Cash at the end of the year
59,001
62,169
Page 22

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Notes to the Accounts
st
For the year ended 31 March 2024
l. Accounting Policies
Basis of preparation and going concern
The financial statements have been prepared under the historical cost convention and in accordance
with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Ireland {FR5 1021 (second edition- October 20191, the Financial Reporting Standard applicable in the
United Kingdom and Republic of Ireland {FRS 102) {updated March 2018), and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertaintie5 about the Princess Projecvs ability to
continue as a going concern. Income arises from a combination of donations, grants and fundraising
activities. The highest area of cost Is a550ciated with the employment of the Chief Executive Officer
ICEOI, project manager and community support workers (Cswsl. The level of resenies necessary to
meet these costs and the continuin8 Costs of volunteer-led activities is kept under constant review by
the Trustees. In addition, the reserves policy includes amounts to protect the ongoing work of the
charity should income levels reduce.
Income
Income, including income tax recovered on amounts received by way of Gift Aid, is recognised in the
Statement of Financial Activities once the charity has entitlement to the resources, it Is probable that
the resources will be received and the monetary value of the incoming resources can be measured
with sufficient reliability.
Donated goods and servlces
Included within donations is the estimated value of gifts in kind and 8oods or services donated to the
charity where the amounts are material, readily quantifiable and measurable. Such estimates are
based on the market price the charity would otherwise have paid.
Liabilities and expendlture
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation as a result
of a past event, it is probable that a transfer of economic benefits will be required in settlement. and
the amount of the obligation can be measured or estimated reliably. All expenditure is accounted for
on an accruals basis and has been classified under headings which aggregate all costs related to the
category.
An amount equal to the donation income recognised on gifts in kind (not for resale) and goods or
services received free of charge is included within the most relevant category of expenditure to which
the donation relates.
Total expenditure includes the allocation of support costs to the various expenditure categories set
out in the Statement of Financial Activities. Support costs have been allocated to activities on a basis
consistent with the use of resources as shown in note 12.
Other costs relate to raising funds as set out in note 4 and costs relating to charitable activities are set
out in note 5.
Page 23

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
l. Accounting Pollcies (contlnued)
Grants
Grants are received from variou5 funders and are recognised on receipt.
Value added Tax
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the
Statement of Financial Activities.
Tanglble flxed assets
Assets are reviewed on an individual basis and capitalised when an ongoing benefit will be provided
to the charity. Depreciation is provided at the following rates in order to write off the assets over their
estimated useful lives.
Equipment
33% straight line
A full year's charge is made for the year in which an asset is purchased. No depreciation is charged in
the year of disposal.
Impairment losses are recognised when there is an indication of Impairment and the asset's
recoverable amount is less than its carrying amount.
Accrued Income
Accrued income represents the amounts claimed for Gift Aid due on donations received before 31
March 2023 which had not yet been recovered from HMRC.
The charity had no trade debtors at 31 March 2024 or 31 March 2023.
Cash at bank and In hand
Cash includes cash held in the charity's bank accounts and a small amount of petty cash.
Accruals and Deferred Income
Accruals comprise unpaid staff expenses relatin8 to the period which were paid shortly after the year
end.
There was no deferred income at 31 March 2024 or 31 March 2023.
The charity had no trade creditors at 31 March 2024 or 31 March 2023.
Pensions
The charity made pension contributions for the employees of the organisation of £2,199 during the
year12023: £1,944).
Page 24

The Princess Projett Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts (continued)
For the year ended 31. March 2024
l. Accounting Policies (continued)
Restricted and Unrestricted Funds
Restricted funds are to be used for specified purposes a5 laid down by the donor. Expenditure which
meets these criteria is charged against that fund. Details of restricted funds are given in note 14.
Unrestricted funds are donations and other income received or generated for the objectives of the
Charity without further specified purpose and are available as general funds.
Page 25

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
2. Donations
Unrestrlcted Restricted
Total
2024
Total
2023
Donations from Individua15
Donations from Organisations
Grants
12,688
8,615
12,688
17,402
8,615
6,998
77,182 77,182 61,162
Donations of goods and
services
16,375
16,375
13,904
Total Income
37,678
77,182 114,860
99,466
Grants were gratefullv
received from:
Kent Community Foundation
Colyer Ferguson Charitable
Trust
I nvolve
Cobtree Trust
Souter Charitable Trust
Edge Ministries
Hubs Di8ltal Support
Tesco
Benefact Trust
Sheerness Town Centre
Garfield Weston
COCOLF
Medway Voluntary Action Test
Bed Fund
Kent County Council Covid
Reintegration
MBC Household Support Grant
MBC Community Resilience
Grant
CFCT Hardship Fund
PCPF
8,000
8,000 12,500
7,500
7,500 10,000
2,500
5,000
3,000
709
2,500
5,000
3,000
709
600
1,125
5,400
750
5,000
37,598
2,500
5,000
3,000
1,064
1,125
5,400
750
5,000
37,598
3,668
1,780
5,000
5,000
250
10,000
400
Involve Warm Welcome
Whitehead Monkton Charitable
Foundation
Total
1,000
77,182
77,182
61,162
Page 26

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
3. Income from other tradlng activltles
Unrestrlcted
Restrlcted
Total
2024
Total
2023
Replication income
Various fundraising events
Other trading activities
Totsl Income from other
tradlng activities
485
4,626
512
485
180
4,410
426
4,626
512
5.623
5,623
5,016
4. Costs of ralslng funds
Unrestrlcted
Restrlcted
Total
2024
Total
2023
Staff Costs
Promotional Materials
Raffle and Auction Prizes
Miscellaneous Costs
Support Costs {note 121
Total cost of ralslng funds
2,539
37
2,539
37
1,494
244
244
2,226
735
1,230
4,050
1,230
4,050
4,455
Page 27

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts (continued)
5t
For the year ended 31 March 2024
5. Costs of Charitable Actlvltles
Mum2Mum
New Mum
Gifts
Hope
Café
Courses
Totcycle
Staff Costs
Refreshments
Gifts for Mums
Resources and
equipment
Christmas Party/
Gifts/Hampers
Promotional
Materials
Totcycle Top-up
Grants
Rental
Depreciation
Support Costs
{note 121
Total costs
5,924
148
846
3,385
11,003
1,693
1,552
128
320
37
37
37
37
37
2,760
13,294
167
2,871
410
1,640
5,331
820
8,980
2,845
5,190
32,912
2,558
Outreach
and Events
Hubs
121
Project
Support Repllcation
Total
2024
Total
2023
Staff Costs
Refreshments
Gifts for Mums
Resources and
equipment
Christmas Party/
Gifts/Hampers
Promotional
Materia Is
Totcycle Top-up
Grants
Rental
Depreciation
Support Costs
(note 121
Total costs
5,078
300
300
21,159
505
7,617
4,232
23
60,937
976
1,852
54,544
534
1,802
69
424
949
1,193
1,500
1,500
1,267
37
37
37
37
333
2,760
4,366
249
13,590
817
5,438
225
18,732
660
268
2,460
10,252
3,691
2,050 29,525
26,819
9,744
38,040
11,345
6,610 118,224 105,181
£81,481 of the costs of charitable activities were charged to restricted funds12023- £58,011).
Page 28

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts (continued)
For the year ended 31st March 2024
6. Net Movement in Funds
Net movement in funds is stated after charging:
Total
2024
Total
2023
Independent Examination
Accounting work by
Independent Examiner
Depreciation of owned fixed
a55ets
937
892
937
893
703
1,083
7. Tangible Fixed Assets
Equlpment
Total
2024
Equlpment
Total
2023
Costs
As at I" April 2023
Additions
As at 31" March 2024
4,773
1,610
6.383
4,273
500
4,773
Depreclatlon
A5 at I" April 2023
Charge for the year
As at 31" March 2024
4,439
703
5,142
3,356
1,083
4,439
Net Book Value
As at 31" March 2024
1,241
334
As at 31" March 2023
334
917
Page 29

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Notes to the Accounts (continued)
St
For the year ended 31 Marth 2024
8. Debtors
2024
2023
Gift Aid Tax recoverable
1,679
1,359
1,679
1,359
9. Credltors: amounts falllng due wlthln one year
2024
2023
Accruals
Other taxes and social security
Other creditors
Deferred Income (note 9a)
150
150
9a. Deferred Income
2024
2023
Brought Forward at I. April 2023
Released in the year
Deferred in the year
Carried Forward at 31. March 2024
10. Related party tran5action5
None of the Trustees received any remuneration during the year12023: none}.
Page 30

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
11. Staff Costs
2024
2023
Wages and salaries
Social security costs
Pension costs
78,758
3,689
2,188
84,635
69,964
2,809
1,944
74,717
There were 8 employees during the year12023: 8).
The full balance of the Employer's National Insurance Contributions of £3,689 was met by the annual
employment allowance.
No employee received a salary exceeding £60,000 during the year {2023: none).
Page 31

The Princess Project Annual Report and Financial Ststements for the year ended 31" March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
12. Support Costs
The support Costs of the charity have been allocated as follows, based on time spent on each activity
by the CEO and other employees:
2024
2023
Mum2Mum Befriending
New Mum Gifts
Parenting Courses and Groups
Totcycle
Hope Café
Outreach
2,871
410
1,640
5,331
820
4,409
367
1,470
5,878
17
2,460
10,252
3,691
2,050
1,230
30,755
1,470
8,082
2,204
2,939
735
Hubs
121 Support
Mum2Mum Replication
Cost of raising funds
34
12
loo
27,554
Support Costs were made up as follows
2024
2023
Staff Costs
21,159
246
480
164
1,558
585
18,679
187
293
176
1,064
1,019
3,095
331
2,710
27,554
Printing, Postage and Stationery
Volunteers, expenses
Website costs
Travel
Phone and broadband
Office costs
I nsurance
Governance costs
3,572
331
2,660
30,755
Governance costs include the donated services of the Independent Examiner and the costs of meeting
space for board meetings.
Page 32

The Princess Projert Annual Report and Financial Statements for the year ended 31. March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
13. Unrestrlcted Funds
2024
2023
Balance brought forward
Net movement in funds
40,865
2,508
50,045
19,1801
Balance carried forward
43,373
40,865
14. Restricted Funds
Asatl
Aprll 2023
st
Income Expendlture
As at 31"
March 2024
Colyer Ferguson
Kent Community Foundation
MBC Household Support Grant
CFCT Hardship Fund
Souter Charitable Trust
Whitehead Monkton Charitable
Foundation
Involve
Cobtree Trust
Souter Charitable Trust
Edge Ministries
Hubs Digital Support
Tesco
9,080
7,766
3,559
7,500
8,000
12,043
12,766
3,559
4,537
3,000
1,466
1,466
975
975
624
2,500
5,000
3,000
709
600
1,125
5,400
750
5,000
37,598
77,182
1,876
5,000
2,196
804
709
600
554
571
Benefact Trust
Sheerness Town Centre
Garfield Weston
COCOLF
4,483
300
5,000
37,598
81,481
917
450
22,847
18,548
Page 33

The Princess Project Annual Report and Financial Statements for the year ended 31 March 2024
Notes to the Accounts {contlnued)
For the year ended 31st March 2024
14. Restrirted Fund5 (continued)
In May 2023 we received funding from Edge Ministries to part fund the employment of our
Chesterfield Community Support Worker.
In June 2023 we received a grant from Golding Homes Community Chest Fund {'Hubs Digital
Supporf to enable us to purchase tablets for the Community Support Workers to Use at the Hubs.
This income has been used for this purpose and included within charitable activities.
Benefact Trust awarded u5 3 grant in June 2023 to part-fund the opening of a new Hub and Totcycle
in Sheerness. This income ha5 been applied towards the running costs of these services, including
staff costs, and included within charitable activities.
We received a grant from the Tesco blue token scheme for Totcycle in June 2023, This income has
been applied towards the running costs of this work (purchase of Totcycle Items for families)
Included within charitable activities.
We received grants from Kent Community Foundation, through their or8ani5ation funding stream, in
August 2023 and March 2U24. towards our core work, including statting costs. I his Income has been
applied towards the running costs of our services included within charitable activities.
In September 2023 we received a grant from Sheerness Town Council to cover the hire costs for the
Sheerness Hub for one year, This income ha5 been used for this purpose and included within
charitable activities.
Garfield Weston awarded us a grant in September 2023 towards our core work (including staffing
costs). This income has been applied towards the running costs of our services included within
charitable activities.
In November 2023 we received a grant from the Involve Social Prescribing Fund towards the costs of
our Tonbridge Hub Irent and staffing costs}. This income has been applied towards the running costs
of the Tonbridge Hub included within charitable activities.
In December 2023 we received a grant from Colyer-Fergusson Charitable Trusttowards our core work
in Kent, specifically staff costs. Thi5 income ha5 been applied towards the running costs of our services
included within charitable attivities.
Souter Charitable Trust awarded us a grant in December 2023 to pursue replication opportunities.
This funding was used to purchase a display stand to take to events and to attend events to promote
our work and meet new replication partners, included within charitable activities {replicationl.
We were awarded funding from the government's Community Organisation Cost of Living Fund in
December 2023 (for future work) and January 2024 (retrospective fundin8 for work carried out since
July 20231, for the Hubs and Totcycle. This income has been applied towards the running costs of our
services included within charitable activities.
Page 34

The Princess Project Annual Report and Financial Statements for the year ended 31" March 2024
Notes to the Accounts (continued)
st
For the year ended 31 March 2024
14. Restricted Funds (continued)
In January 2024 we were awarded a grant from Cobtree Charity Trust towards our core work in
Maidstone (specifically staffing costs). This income has been applied towards the running costs of our
services included within charitable activitie5.
15. Analysis of Net Assets between Funds
Tanglble
Fixed Assets
Net Current
Assets
At 31 March
2024
At 31 March
2023
Restrlcted Funds
Unrestricted Funds
18,548
42,132
18,548
43,373
22,847
40,865
1,241
1,241
60,680
61,921
63,712
16. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvfties
2024
2023
Net movement in funds
Add back depreciation
Less gifts in kind - fixed assets
{Increasel/Decrease in debtors
Decrease in creditors
{1,791)
703
{5,1541
1,083
1500)
1335)
12801
1320)
1150)
Net cash outflow from operating activities
{1,558)
(5,186)
Page 35