ANNUAL REPORT %FINANCIAL STATEMENTS 2024- 2025 THE pkiNCEsg li PkoJECT Registered Charity Number 1155021
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2025 CONTENTS Page(s) Tru5tees' Annual Report 2-18 Independent Examinerfs Report 19 Statement of Financial Activities 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 2025 TRUSTEES: ANNUAL REPORT The trustees present their trustees annual report together with the financial ststements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charivs governing document. the Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by Chartties preparing their accounts in accordan With the Financial Reportin8 Standard applicable In the UK and Republic of Ireland (FRS 102) (second edition-october 2019). OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The objects of the Princess Project as set out in its governing 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, relationshiplfamily breakdown. poor educational or skills attainment, poor physical or mental health. This is achieved by providtn8 a befriendln8 scheme and dropin support, to relieve the needs of those mothers and thelr children and to assist them to integrate into society. to advance education in accordance wtth Christian principles by running parenting courses, and to teach or provide tralning ft)r 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 accordan with our statement of faith. The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charitys aims and objectives and in plannin8 future activlties. The objects are achleved through a variety of activities: Mum2Mum Befriendin8 Service Princess Project New Mum gifts Parenting Pro8rammes Shine Course Totcycle Drop-in 5UPPOrt at our Mum< Hubs Supportin8 mums in the wmmunity Providing gupport•d volunt••rlr46 OPPVrtunltle> Running free family-friendly events Hope Café Page 2
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 INTRODUCTION As I reflett on another year at the Princess Project, I continue to be amazed by the faithfulness of God, the hard work of our team. and the generosity of our supporters. In a year when families continue to face a lot of uncertainty. we have been able to Stand alongside and provide consistent love and support- to be Jesus, hands and feet to the mums and families he puts us alongslde. In a culture where so much is transient and temporary. our commitment to providing long-term support for as long as is needed (sometimes for several years) allows us to build meaningful relationships, and creates the environment where family transformation is possible. We are thankful to the grant funders who have seen the value in our work and invested in us to allow us to grow. This ha5 resulted in five thriving Mum< Hubs across Kent. and has allowed us to put some exciting new plans into attion including running ten Babies Matter courses over two years, and replicating Hope Café at all our Hub locations overthe same tlme frame. This means that by 2026, we will have a safe, welcomin& inclusive space in all of our Hub locations where mums can explore Christianity. should they wish to. We know that our people are ourgreatest resource and we continue to invest in our team, this year pioneering a partnership with Crossline Counselllng to provide regular wellbeing reviews for all of our staff team, in recognition of the mentsl. emotional and spiritual load they carry and the potential impatt thls might have on their wellbeing. I hope you will take the time to read through this report and be as encouraged as l am by the picture it palnts. If you are a numbers person. there are plenty of amazing statistics to put a smile on your face, whether thavs our Hubs being vlslted 4,543 times, our volunteers donating an amazing 2,828 hours (thavs 4 months!) of time. or that 92% of mums engaging with us felt less isolated as a result, and 77% said their mental health had improved. If that doesn't mean much to you. hopefully you will enjoy reading quotes from our mums and our volunteers describing the difference the Princess Project has made to them in their own words" failin8 that I hope the smiles in the photographs we've shared cause you to smile too. These are extremely challenging times for the voluntary sector. Money is scarce. Need is growing. People have increasing demands on theirtime meaning volunteering can be difficult. We never take your support for granted, and are extremely grateful for every pound. hour or gift donated, every prayer prayed. every encoura8ement sent. More than anythin& though. we are encouraged to stay rooted and trusting in God, the Sour of all good things. who has shown himself to be con5iStently faithful and is the same yesterdayi today and forever. If you would like to know more about anything outlined in this report. please do contact the Prlncess Project team, who are always happy to talk about our work! Thank you again foryour support, Emtna Tanner Founder/cEO Page 3
The Princess Project Annual Report and Financial Statements for the year ended 315t March 2025 A REVIEW OF OUR ACHIEVEMENTS AND PERFORMANCE: HOW OUR ACTIVITIES DELIVERED PUBLIC BENEFIT - 2024-25 TIMELINE As well os om ofthjr regu Big EtTster Story Apr throLFghc#Jt the wr-, Big Church Festival May Fr•deritrs Fvndroin Jun Summer fvn Jul New Officel Aug Grace on NTrlheels Sep Conference Oct Courses Nov . Chrtstmas festlvities Dec Volunteers. Celebratlon.,- Jan Shep¥ Qpen Feb Mar Page 4
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2025 4fF.J A YEAR IN NUMBERS 4,543 HUB VISITS: 2.303 ADULTS. 1240 CHILDREN Our Mums. Hubs provide a saf welcoming ermronment for vuineiable mums, and play snaces for th&r thildren. TOTCYCLE VISITS 599 Totcycle Is our baby and toddler goods exchange proiAding good qualjty Second hand baby aT ioddler do¢ns toys. bools and equipment free of charge to anyone who nèeds it 253 MUMS RECEIVING 1-TO-I SUPPORT from our ream oFvolutsteer befrlenders. or our staff ieam. OUT team provide consistenL long ierm n¢)n-judgemenral support and encouracemenr, building self. esreem and Improving tfte emottonal and menral health and wèllbein8 01 mums takin8 part, and reducrng -thtrrsocwl Isolatson GIFTS GIVEN TO MUMS 290 to make them feel valued and spetsal. arKJ to remino thern thar Ihey ere loved . 17 FAMILIES ArrENDED ONE OF OUR COURSES gaining important skills and buildingself cormdence kl]rou£h &*ipe and knds klatter FAMILIES SUPPORTED IN TOTAL 685 We hettied nebrly 700 1ndiw.dual families this year. ttvoLWJ one or ffl0 of our Page 5
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 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 2,828 hours (thaY5 nearly 4 months!) of time to us this year. Princess Project Volunteers 2024-25 28 Hub Team 500 volunteer hours donated 15 Befriender5 ,04 volunteer hours donated Trustees 108 volunteer hours donated Other volunteers: {deliveries/ sortin& courses. fundraising. new mum gifts, prayer team) 96 volunteer hours donated Professionals donating theAr time and expertise- IT. research, payroll. accountancy services volunteer hours donated Page 6
The Princess Project Annual Report and Financial Statements for the year ended 31 March 2025 THE PrLFicess PROJECT Our Impact Our mums have told us what difference the Princess Project has made to them 96% Have met new people 92/. Feel less isolated 77% Mental health has improved 74/. Feel more confident in their parenting 72/ Family life has improved 89/ Feel like they can have a say in how things are run, and that their voice is heard What difference does Totcycle make? What difference does Hub make? What difference do our courses make? What difference does Hope Cafe make?
The Princess Project Annual Report and Financial Ststements for the year ended 31" March 2025 We asked our mums how receiving a gift from the Princess Project made them feel... speciaL gratc-rul project Loved amazing princess good viamtrt valued lovplv nice appreciated acknowledged .and to tell us in their own words what difference the Princess Project had made to them and their family 66 60 It has changed my life. I have been coming for nearly 2 years now and I love everyone. I have made new friends. Freed up money which has helped. It has helped me to worry less. 99 99 66 00 Helped me feel like I'm a good mum The Princess Project has given me the thought of never being alone. It's made me see light in dark times 99 99 00 They have helped me and my little boy so much since becoming a single mumat19 We have learned more about parenting and socializing has reduced the stress level at home. 99 99
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 We asked our team about their experience of volunteering with the Princess Project ioo/. Enjoy volunteering 96/. Have met new people 96/. Feel well sUPPOrted in their role 79% Feel like they can have a say in how things are run 33/ Have learnt new skills 33/. Are more confident 06 I love volunteering with PP. Each week is different. l enjoy seeing the other volunteers. It is great to see how much the mums enjoy coming along and it always touche5 my heart when I see new mums making conversation with each other, perhaps providing friendships that otherwise would never have been made. God is good. 99 The best part about volunteering is standing alongside other mums as they negotiate the challenges of motherhood, and encouraging and supporting them to be the best they can for their children. 00 I feel we all work together as a team. I feel we are appreciated by the staff. I love being part of the team. It is good to have standards and clear leadership. 99 99 66 60 I feel like I'm sharing God's love in the community beingjesus, hands. Volunteering has grown my faith by seeing the big and small miracles God is doing. I love chatting to the mums and the children. Serving the refreshments. Noticing the changes and development in the mums and the children as the months and years go by_ 99 99
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 A YEAR IN PICTURES gkn Gly£ lov. Pa8e 10
The Princess Projett Annual Report and Flnancial Statements for the year ended 31st March 2025 INANCIAL REVIEW Total Income 202&25 751JOOO 100fJJo Il_ Overall income increased by almost 23% this financial year. with thrs increase comin8 from both a Significant increase in donation income {see 8fdphic belowfor breakdown) and also a modest increase in income from other operating actiV5ties, which represents fundraising income. replication Income and income from selling on unwanted/unsuitable fabric donations. The increase in income reflects the poSitre way our work {and our organisation as a whole) is viewed by grant funders, or8ani5ation5. and members of the general public and is something we are very thankful for in these difficult financial times. Our'other operdting activitieg income remains below our £10,000 target, primarily due to the on8oin8 challenges around communityfundraising in a post-covid era. we are actively exploring ways to diversify our income to remedy this. Page 11
The Princess Projett Annual Report and Financial Statements for the vear ended 31" March 2025 Donation income can be split up as follows: Donation and Grants Income 202425 Donatlpns from Indfvlduals lQ1Y Donallonsfrorn Organtsatlons fjrants D•rtatlon of Gaods•nd S*r¥kesifjifts In Klndl 60.2% of donations income this financial 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 smaller proportlon of total incorne than in the last financial year (67%), despite the fact that the actual amount of grant funding we have been awarded has increased. Decreasin8 our rellance on grant funding is something we have been working hard to achieve. so we are pleased to be making progress in this area. The proportion of donations from individuals we have received this year is broadly similar to the previous financial year (IO% as opposed to Il%), which is pleasing siving the financial climate. Income from organisations has increased significantly- 18.2% this year compared to 7.5% last year. This includes donations from local buslne5ses, churches, and other organisations. Donatlons of goods and services represent storage. office and meeting space: items for new mum gift bags, and gifts for Motherf5 Day and Christmas: new Totcycle items such as nappies and baby formula; and IT. payroll and accountanry/independent examination Servi5. 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 seNices are matched by corresponding costs shown eiiner wirnin dlrect charltable activity costs or support cost5 wlthin the year. Page 12
The Princess Projett Annual Report and Financial Statements for the year ended 31" March 2025 Total Expenditure 2024-25 I000 soooo Il__ The amount we have spent on charitable activities has InCaSed by 19%, reflecting the overall increase in our Income. The cost of raising funds has increased sli8htly, however the proportion of our income we spend on raising funds is only 4% overall (3% last financial year). As can be seen from the graphs on page 14, our pattem of expenditure looks broadly similar to last year. Our Hubs remain by far our biggest outgoing. with this being the first financial yearthat we have had fwe Hubs open for the whole reporting period. with the resufting increase in rent and staff costs. Spending on Hope Café has also increased signtficantly. with a grant being reiVed from Magnify Foundation to fund this work and replicate it across all of our Hub locations over the next two years. Page 13
The Princess Project Annual Report and Financial Statements forthe year ended 31 March 2025 Expenditure on Charitable Activities 2023-24 Mum2Mum N•w mum#il¢ b¥¥s l.t1 support Tot¢yde Cours•5 Oirtrtath •nd ev•nts Hub Hope C•ie Expenditure on Charitable Activitles 202Ak25 vm2Mum Projert Repllutlon Newrnum Wftb•85 1-ttyl sUPPDrt 7otcytlt Course5 Hope Cafe Page 14
The Princess Project Annual Report and Financial Statements for the year ended 3151 March 2025 RISK MANAGEMENT The board of Trustees continues to assess, identify and address areas of risk and to put controls in place to minimise these. A central risk regrster is maintained, and changes to this are logged and reviewed at each trustee meeting. Risk managemont and safeguardin8 are standing agenda items for board meetings. Key controls include: Fomial agendas and minutes for all board meetings,. Regular financial revlews including preparation of management accounts, budgeting and reviews of reseprfe levels. Formal procedures forsafeguardin8 chIldn and vulnerable adults; Regular review of compliance with data protettion le8islation' Risk assessments of all publicly attended activitles: Development of written policies and procedures surrounding volunteer grievance. equal opportunlties and diversity. media and social networkin& confidentiality, lone workin8 and personal safety, and tslking about faith guidelines,. Development of strategic plans," and Re8ular trainlng for staff and volunteers. RESERVES POLICY The trustees understand the Importance of maintaining a level of reserves to enable thern 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 resenies of the Princess Project after adjusting for fixed assets and restricted funds amount to £28,170. PLANS FQR THE FUTURE- Our plans for 2025/26 include: To continue to build relationships with churches acros5 the country who are interested in replicating Mum2Mum and/or the Hub and Totcycle and to explore other local replication opportunities To have a rolling programme of Babie5 Matter course5 acr055 all our Hub locations To open Hope Café's in all our Hub locations and expand our seasonal Hope Café events programme To establish a system of 6-monthly Wellbeing Reviews for staff in partnership with Crossline Counsellin8 Continue to build latIOnShIpS with local churches and profes5iona15 Grow our volunteer team to reflect the increasing demand for our services. Pa8e 15
The Princess Project Annual Report and Financial Ststements for the year ended 31st March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a registered Charitable Incorporated Organisation (charity number 1155021) and is governed by the tenS of its constitution. Trustees are appointed by the current trustees. Trustees retire by rotation every 3 year5 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 delegated to the CEO. When skills gaps are identified by the board. potential new trustees are 50ught 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 as comprising the key management personnel of the charity in charge of directin8 and controlling the charity and runnlng 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 expen5e5 and related party transactions are disclosed in note 10 to the accounts. Trustees are required to disclose all relevant InteSts and register them wlth the CEO and in accordance with the charItS policy withdraw from decisions Whe a conflict of interest arlses. The pay of the charivs staff is reviewed annually. We pay the community support workers and admlnistrator the hourly rate recommended by the Living Wage Foundation. Pase 16
The Princess Project Annual Report and Financial Statements for the year ended 31st March 2025 REFERENCE AND ADMINISTRATIVE INFORMATION TRUSTEES Leon Mlleham Chair of Trustees (from 19 September 2024) Vice Chair of Trustees (from 19° September 2024) Treasurer (from 13th March 2025) Secretary Joy Uba Abiola Seweje Angela Trigg Bobbi Ezeike Jamieleigh Mace Jane Negus th (trustee until 13 March 2025} (chair until 19" September 2024) Claire Pamberi Helen Willlamson Prlnclpal Office The Princess Project, Maidstone Community Support Centre. 3948 Marsham Street, Maidstone ME14 IHH Independent Examiner Edward Rands F 16 Mill Close, Shepshed, Loughborough, Leicestershire LE12 9UA Princlpal Banker CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Mallin& Kent ME19 4JQ Pase 17
The Princess Projett Annual Report and Financial Ststements for the year ended 31 March 2025 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charity twstees are responsible for preparing a trusteeg annual report and financial statements in accordance With applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in En8land and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affrdirs of the charity. and of the incoming sOurceS and application of resources of the charity for that period. In preparing the financial statements. the trnstees are required to.. select suitable accounting policies and then apply them consistently: observe the methods and principle5 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 dlsclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial Statements comply with the Charities Att 2011. the applicable Charities (Accounts and Reports) Re8ulatlons, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financlal information included on the charivs website in accordance with leglslatlon in the Unlted Kingdom governlng the pparatIOn and dissemination of financial statements. Approved by the trustees on 8 January 2026 and signed on their behalf by: Leon Mileham Chair Page 18
The Princess Project Annual Report and Financial Statements for the year ended 31st March 2025 Independent examinerfs report to the trnstees of The prinSS Project I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 21>35. Responsibllltles and basis of report As the charitvs trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Art 2011 ('the ACV). I report in respect of my examlnatlon of the charltys 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 undersection 145{5)(b) of the Act. Independent examinerfs statement I have completed my examination. I confimi that no material matters have come to my attentlon In connection with the examination givin8 me cause to believe that in any material respect: accounting records were not kept in respect of the charity as reqUId by section 130 of the 2. the accounts do not accord wlth those records: or 3. the accounts do not compty with the applicable requlrements concemin8 the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 21X)8 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 understandin£ of the account5 to be reached. Edward Rands FCA 16 Mill Close Shepshed Loughborough Leicestershire LE12 9UA Date: Page 19
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 Statement of Financial Artivities For the year ended 31st March 2025 Unrestritted Restricted 2025 2025 Total Unrestricted Restricted 2025 Total 2024 2024 Notes 2024 Income from: Donations and grants Other operatin8 activities Total 47,534 94,055 141,589 37,678 77,182 114,860 6,930 6.930 5,623 5,623 54,464 94,055 148.519 43,301 77,182 120,483 Expenditure on: Raising funds Charitable attivities Total 5,807 62,262 68,069 5,807 77,917 140,179 77,917 145,986 4.050 36.743 40,793 4,050 81.481 118,224 81,481 122,274 Net Movement in Funds 113,605) 16,138 2,533 2.508 (4,299) (1,791) Reconcillation of fvnds Total funds brought forward Total funds carried forward 13114 43,373 18,548 61.921 40,865 22,847 63,712 29,768 34,686 64.454 43.373 18,548 61,921 Page 20
The Princess Projett Annual Report and Financial Statements for the year ended 31" March 2025 Balance Sheet As at 31st March 2025 2025 2024 Notes Fixed Assets Tangible Fixed Assets 1,598 1,241 Current Asset5 Debtors Cash Total Current Assets 1,028 62,390 1,679 59,001 63,418 60,680 Credltors: amounts falling due in one year 562 Net Current Assets 62.856 60,680 Net Assets 61,921 Total funds of the charlty: Unrestricted Funds Restritted Funds Total Funds 15 29,768 34,686 64.454 43,373 18,548 61,921 Leon Mileham Chair Approved by the Trustees on the 8 January 2026 Abiola 5eweje Treasurer Page 21
The Princess Projett Annual Report and Financial Statements for the year ended 315t March 2025 Statement of Cash Flows For the year ended 31st Marth 2025 2025 2024 Notes Net cash inflow/(outflow) from operating actlvitles 16 4,979 (1.558) Investlng activities Purchase of tangible fixed assets (1,590) (1,610) Increase/(Decrease) In cash for the year 3.389 (3,168) Cash at the start of the year 59.001 62,169 Cash at the end of the year 62,390 59.001 Page 22
The Princess Projett Annual Report and Financial Ststements for the year ended 31" March 2025 Notes to the Accounts For the year ended 31st March 2025 l. Accountlng Policles Basi5 of preparation and going conrn The financial statements have been prepared under the historical cost convention and In accordance with the Statement of Recommended Practice: Accountlng and Reporting by Charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition- October 2019), the Financial Reporting Standard applicable in the Unlted 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 uncertainties 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 associated with the employment of the Chief Executive Officer (CEO), projett manager and community support workers (CSWS). The level of reserves necessary to meet these costs and the contlnulng costs of volunteer-led activities is kept under constant review by the Trustees. In addition, the resetves policy includes amounts to protect the ongoing work of the charity should Income levels reduce. Income Income, including income tax COvered on amounts received by way of Gift Aid. is recognised In the Statement of Flnanclal 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 SLrfftclent reliabillty. Donated goods and servl¢e5 Included within donations is the estimated value of gifts in klnd and goods or services donated to the charity where the amounts are material, readily quantifiable and measurdble. Such estimates are based on the market pritr the charity would otherwise have paid. Liabllities and expenditure Liabilities are recognised asexpenditure assoon as there is a le8al orconstructive 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 accrua15 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 expendtture to which the donation relates. Total expenditure include5 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 forthe year ended 31 March 2025 Notes to the Accounts (continued) For the year ended 31" Marth 2025 l. Accounting Policies (continued) Grants Grants are received from various funder5 and are recogni5ed on reipt. Value added Tax Value added tax is not recoverable by the charity. and as such 15 included in the relevant costs in the Statement of Financial Activities. Tangible fixed 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 yeaes charge is made for the year in which an asset Is purchased. No depreciation is charged in the year of disposal. Impalrment losses are recognised when there is an Indication of impairment and the asset's recoverable amount is less than its carrylng amount. Accrued Income Accrued income represents the amounts claimed for Gift Ald due on donatlons received before 31 March 2024 which had not yet been recovered from HMRC. The charity had no trade debtors at 31 March 2025 or 31 March 2024. Cash at bank and In hand Cash includes cash held in the charitvs bank accounts and a small amount of petty cash. Accruals and Deferred Income Accruals comprise unpaid staff expenses relatin8 to the period which were pald shortly after the year end. There was no deferred income at 31 March 2025 or 31 March 2024. Pensions The charity made rjenston eontributiorbs for the employee$ of the or8an15ation of £Z.SZ3 Uurlng the year (2024: £2,199). Page 24
The Princess Projert Annual Report and Financial Statements for the year ended 31" March 2025 Notes to the Accounts (continued) For the year ended 31" March 2025 l. Accounting Policies (continued) Restricted and Unrestiicted Funds Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria Is charged against that fund. Details of restricted fvnds 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 315t March 2025 Notes to the Accounts (continued) For the year ended 315t March 2025 2. Donations and grants Unrestricted Restricted Totsl 2025 Total 2024 Donations from Individuals Donations from Organisations Grants 9.499 21.816 4.791 14,290 12,688 4.005 25,821 8,615 8S,259 85,259 77.182 Donations of goods and services 16,219 16.219 16,375 Total Income 47.534 94.055 141.589 114.860 Grants were gratefully recelved from: Kent Community Foundation Colyer Fer8U50n Charltable Trust Involve Cobtree Trust Souter Charitable Trust Tesco Sheerness Town Council Magnify- Hope Café N3tlonal Lottery Henry Smith Tonbridge and Mallin8 Borough Council Edge Minlstrles Hubs Digital Support Benefact Trust Garfleld Weston COCOLF Total 15,000 15.000 8.)0 20.0(KI 20,OCM) 681 681 2,500 5,1YJO 5,000 5.000 1,200 1,200 3.000 1,875 1,875 1,125 500 500 750 11.999 11,999 15,254 15.254 io.o(A) 10,000 7,500 3,750 3.750 709 5,400 37.598 77.182 85.259 85.259 Further details of restricted funds are given in note 14. Page 26
The Princess Project Annual Report and Financial Statements for the year ended 315t March 2025 Notes to the Accounts (continued) For the year ended 31" March 2025 3. Income from other operating activities Unrestricted Restrfrted Total 2025 Total 2024 Replication income Various fundraising events Other trading activities Total Income from other tradlng activlties 345 6.119 466 345 6,119 466 4.626 512 6.930 6,930 5.623 4. Costs of rdising funds Unrestrlcted Restrlcted Total 2025 Total 2024 Staff Costs Promotional Materials Raffle and Auction Prizes Miscellaneous Costs Support Costs {note 12) Total cost of ralsing funds 1.971 13 1.971 13 2.539 37 1,771 1.052 5.807 1,771 1,052 5307 244 1,230 4.050 Page 27
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 Notes to the Accounts {continued) For the year ended 31" March 2025 5. Costs of Charitable Artivities Mum2Mum New Mum Gifts Courses Totcyde Hope Café Staff Costs Refreshments Gifts for Mums Resources and equipment Christmas Party/ Gifts/Hampers Promotional Materials Totcycle Topup Grants Rental Depreciatlon Support Costs (note 12) Totsi costs 3.942 103 985 4.927 213 12.810 7,883 27 80 13 13 13 13 1,847 654 450 150 167 2,105 526 2,631 4.209 6,163 2.326 8,261 22,331 12,335 Outreach and Events 121 Project Support Repllcation ubs Total 2025 Total 2024 Staff Costs Refreshments Gifts for Mums Resources and equipment Chr15tmas Party/ Gifts/Hampers Promotional Materials Totcycle ToTrup Grants Rental Depreciation Support Costs {note 12) Total costs 3,942 55 2(K) 29,562 614 4.927 1,971 70.949 985 I,(NJ2 60,937 976 1,852 1,161 596 1,344 3.208 949 2.784 2,784 1.500 13 13 13 13 117 333 1,847 654 2.760 19.489 225 20,089 660 18,732 660 268 2.105 15.785 2.631 1.052 37.884 29.525 10,260 66.284 7,571 4,648 140,179 118,224 £77.917 of the costs of charitable activitie5 were charged to restricted funds [2024- £81.481). Page 28
The Princess Project Annual Report and Financial Ststements for the year ended 31" March 2025 Notes to the Accounts (continued) For the year ended 31st March 2025 6. Net Movement in Funds Net movement in funds is stated after charging: Total 2025 Total 2024 Independent Examination Accountin8 work by Independent Examiner Depreciation of owned fixed assets 965 937 965 937 1,233 703 7. Tanglble Flxed Assets Equlpment Totsl 2025 Equipment Total 2024 Costs As at I" Aprll 2024 Additions As at 3151 March 2025 6,383 1.590 7.973 4,773 1,610 6,383 Depreclation A5 at I"April 2024 Charse for the year As at 31st March 2025 5.142 1,233 6.375 4,439 703 5,142 Net Book Value As at 31" March 2025 1.598 1,241 As at 31st March 2024 1,241 334 Page 29
The Princess Projett Annual Report and Financial Statements for the year ended 31 March 2025 Notes to the Accounts (continued) For the year ended 31st Marth 2025 8. Debtors 2025 2024 Gift Aid Tax recoverable 1.028 1,679 1,028 1,679 9. Credltors: amounts falling due withln one year 2025 2024 Accruals Other taxes and social security Other creditors Deferred Income (notÈ 9a) 562 562 9a. Deferred Income 2025 2024 Brought Forward at I" April 2024 Released in the year Deferred in the year Carried Forward at 31$1 March 2025 10. Related party tran&ittions None of the Trustees reiVed any muneratIon durin8 the year (2024: none). Page 30
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 Notes to the Accounts (continued) For the year ended 31 March 2025 11. Staff Costs 2025 2024 Wage5 and salaries Social security costs Pension costs 91.470 4,547 2,523 98,540 78.758 3,689 2,188 84,635 There were 8 employees during the year (2024: 8). The full balance of the Employer'5 National Insurance Contributions of £4.547 was met by the annual employment allowance. No employee received a salary exceedin8 £60,000 durin8 the year {2024'. none). Page 31
The Princess Project Annual Report and Financial Statements for the year ended 315t March 2025 Notes to the Accounts (continued) For the year ended 31st March 2025 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: 2025 2024 Mum2Mum Befriendin8 New Mum Gifts Parenting Courses and Groups Totcycle Hope Cafe Outreach Hubs 121 Support Mum2Mum Replication Cost of raising funds 2.105 526 2,631 6,840 4,209 2,105 15,786 2,631 1,052 1,052 38,936 2.871 410 1,640 5,331 820 2,460 10,252 3,691 2.050 1,230 30.755 18 11 40 100 Support Costs were made up as follows 2025 2024 Staff Costs Prlntin& Postage and Stationery Volunteers, expenses Webslte costs Travel Phone and broadband OffJce costs Insurance Governance costs 25,620 193 163 180 2.676 552 6,877 415 2.260 3836 21,159 246 480 164 1,558 585 3,572 331 2.660 30.755 Governance cost5 include the donated services of the Independent Examiner and the costs of 5afeguardlng Support and DBS checks. Page 32
The Princess Projett Annual Report and Financial Ststements for the year ended 31 March 2025 Notes to the Accounts (continued) For the year ended 31st March 2025 13. Unrestrirted Funds 2025 2024 Balance brought forward Net movement in funds 43.373 (13,605) 40,865 2,508 Balance carried forward 29,768 43.373 14. Restrlcted Funds Asatl" Aprll 2024 Income Expenditure As at 31rt March 2025 The Blg Give Colyer Fer8uson Kent Community Foundation CFcf Hardship Fund Souter Charitable Trust Involve Cobtree Trust Tesco Benefact Trust Sheerness Town Council Magnify National Lottery Henry Smith Tonbridge and Malling Borough Council 8.796 20,(KM) 15,0(X) 5,253 15.520 14,702 3,543 9,017 3,298 4,537 2,196 1.876 1,200 681 2,217 2,530 6.403 2,446 917 950 10,117 4,122 8,990 3.750 77,917 1,179 27 3,597 571 917 4SO 1,875 11,999 15,254 10,OCKJ 3.750 94.055 1,882 11,132 1,010 18y8 34,686 Page 33
The Princess Projett Annual Report and Financial Statements for the year ended 31tt March 2025 Notes to the Accounts (contlnued) For the year ended 31st Marth 2025 14. Restricted Funds (continued) We received £4,CX)5 in match funding for our online Big Give Women and Gir15 Match Funding Campaign from the Bis Give Trust. towards our core work. We received the first instalment of a 2-year grant from Colyer Fergusson Charitable Trust, towards our core work including the Mums, Voices project. We received grants from Kent Community Foundatlon. through their organisation funding stream, from the Weardale Fund In September 2025 and Vanquis Social Impact Fund in November 2025, towards our core work, including staffing costs. This income has been applied towards the runnlng Costs of our services included within charitable activities. Souter Charitable Trust awarded us a grant in December 2024 to allow us to develop the Stsff Wellbeing Review Programme. In January 2025 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 runnlng costs of our seniices included within charitable actlvities. We received a 8rant from the Tesco blue token scheme for TotLycle. This income has been applied towards the running costs of this work {storage costs, and purchase of Totcycle items for familie5) included within charitable activities. We received a grant from Sheerness Town Council to pay ft)r new racking for Sheerness Totcycle. This income has been used for this purpose and included within charitable acrivities. We received the first instalment of a 2-year grant from the Magnify Foundation, to enable us to replicate Hope Café across all of our Hub locations. This income has been applied towards the running costs of our services included within charitable activitles. We received a grant from the National Lottery Community Fund (Awards for All) to expand our programme of Babies Matter course5 over 2 years. This income has been applied tOvrdS the running costs of our services included within charitable activities. The Henry Smith Charity awarded us a 2-year grant towards the cost of running our Mums. Hubs and Totcycle. This income has been applied towards the running costs of our services included wtthin charitable activities. We received a Erant from Tonbridge and Malling Borough Councll towards the cost of running our Tonbridge Hub and Totcycle. This income has been applied towards the running costs of our seniices included wtthin charitsble acttvities. Page 34
The Princess Project Annual Report and Financial Statements for the year ended 31" March 2025 Notes to the Accounts (continued) For the year ended 31st Marth 2025 15. Analysis of Net Assets between Funds Tanslble Flxed Assets Net Current Assets At 31 March 2025 At 31 Marth 2024 Restricted Funds Unrestricted Funds 34,686 28.170 34.686 29,768 18,548 43,373 1.598 1,598 62,856 64,454 61.921 16. Reconciliation of net movement in funds to net cash flow from operating activitles 2025 2024 Net movement in funds Add back depreciation Less gifts in kind-fixed assets Decrea5e/(Increa5e) in debtors Increase/lDecrease} in credltors 2,533 1.233 (1,791) 703 652 561 {320) (150) Net cash oufflow from operating actlvities 4,979 (1.558) Page 35