Charlty rnglstratlon numbor 1156428 THE ISAIAH PROJECT ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE ISAIAH PROJECT LEGAL AND ADMINISTRATIVE INFORMATION Truste•8 C Cooper H Copplng O Aroyehun S Dalley Charfty numb•r 1156428 Prfncipal addra$$ Femdale Road South8nd On Sea E8S6X England SS2 4DS Audftor A28ts Audlt 8erylce8 7 - 8 Brit8nnla 8u6lne8s Park Comet Way south0ndn.SOa E88ex Unlled Klngdom SS2 6GE
THE ISAIAH PROJECT CONTENTS Pago Trusta68' report Stalérnent of Truslaes, r88ponslbllltl88 Ind8pend8nt audltorf8 report Con8011daled stalement ol flnanclal aCtIlIeS 10 Coniolldat8d BalanrA She•1 11 Charlty Balance Sh88l 12 Con8olld81ed statem8nt of cash flow6 13 Notes to thè financl818tatement8 14-28
THE ISAIAH PROJECT TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The tru$tee8 present thelr report and financlal statements fLY tt10 year ended 31 March 2025. Th8 finandal stat8m8nts have been prepared In accordance wlth the accounting pollcles Set out In note 2 to tha fjnan¢ial statem6nts and comply wlth the ¢harilVs govemlng document, the Ch8rlllas Act 2011 and "Accounling Reportlng by Charities,. Statement of Recommend6d Praclice appltcable lo charities preparlng th61r accounts In 8ccfJrdance wllh the Flnancial Reporting Siandard appllcable In the UK and Republlc of Ireland {FRS 102). {éffective 1 January 2019). Objoctlvas and a¢tlvltlo8 Th8 Isalah Pro11 alms lo hélp th088 who flnd themselv88 unable lo move Ihelr Ilfe forward wlthout help and are wllllng to Vrk wlth the alm8 of the wol8GI. The individuals and famllle8 who are supported by the project wme with varying needs, with all wanllng lo change the circumstancés In which they find Ihem88lves. Our prlnclple oblectlvos and advltl88 are.. To relleve poverty In the South8nd.on-Soa arèa by provldlng good quallly hou$lng and provldlng a conllnued support Sorvlce for Ih8m. To promote 8oclal Incluslon for th8 publ1¢ benefft by prev8nllng peopl8 from becomlng soclalty excluded, rellevlng the needs of those pwlé who are 80clally ex¢luded and a88lsllng them to Integrale into soolely, enabllng them to gain the lif8 and S¢)dal skllls necessary lo obtaSn and malnlaln Independence In the communlly by way of oducallon. tr8lnlng and 8UPPOrt. The rellef ofunemploym8nt for the benefit of the publlc In th8 Southendwon488 are8 In Such ways as may be thought fit, Inciudlng a861stance lo flnd employment. The InJ8tees have pald du• regard lo guld8nc8 15sued by the Charlty Commi88lon In decldlng what acUvlli6S tha charfty sl)ould undertake. The Irus18es are awarè ol Ihelr duly under S.17 of the Charfljes Act 201110 havo due regard lo tha Publlc Ben8fl1 Guidance publlsh6d by the Charfty Commlsslon. As such, the Trustees ensure that the acllvllle8 of the Charlty are for pub15¢ benefft.
THE ISAIAH PROJECT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢hlevements and perfomian In March 25 the IsaSah Prolect housed 124 rèsidents {66 adults and 58 chlldrgn) In 57 propertl88 across Westcllff. S(AJthend, Souththurch and Shoebury. The1s8iah Prolect rents 54 of these propertles and own6 3 (2 ofwhlch are through a limited company- The Isalah Project LlmTiad). Each famlly or Indmdual housed by us has a befrtender who provid8$ th8m tallored 8UPPOrt. Befrienders aro provided wlth the Int8ntlon of enabllng people lo t8ke po8lilve steps In life. The Project also runs addlllonal aV[e8 to promote soclal Inclu8lon and both mgntal and physlcal wellbelng. These activSti68 include.. Weekly Open House oJff86 momlngs vthere befrlenders and offlc8 St8ff ar8 avallable io deal any problems that have arfsen, and Can hélp the resldènts make appolntmenls, go through forms etc. They also provydé opportunlties to build p08itiv8 relationshlps wlth others on tha prolact a8 well as glvlng us chance to build r8latlonshlps wlth new people who would Ilke to loln The Prolecl. A weekly Men's Breakfast Is held lo glve our male resldents the ch8nce to get together. Each resldenl has Ihelr own rea5¢ for att8ndlng - lon8llnes8. food poveriy or slmpty just b8lng. A bl-monlhly Women's Brunch where thé VK)man on our projoct 961 together to leam new sklll8, be pampered and be heard. Famlly actfvitles take ptace durlng half teims and school holldays. These alm lo glve chlldren opportunlti88 thèy may not Othe$8 ha and create a supportlve énvlronrnent for both the adults and the chlldron. Th818alah PToleel help8 lo fund some of Ils work through Ihe S Project 8hop$. These 8811 second hand clothe8, fumllure and brlc-8-brac, Our fumlturo shops are also part of Ihe Essential Uvlng FurMI Scheme. 8 Schéme ran by Ihe local ¢ouncll to provid8 crisis support to those most In need. Wllhin the prolecl we also promote vdunleerfng for both our resldents and those In th8 %der communlty. We al work vAth th8 local Communlty Payback Schem8. Through the88 we have b88n able to off8r part-llmè WO lo hvo of our volunteers and we were also able lo offor short4erm work to a memb8r of Ihe Communlty P8yb8ck Scheme untll they found other employment. The Prolèct Manager Is supporled by 4 part tlm8 staff and 4 full Ilme staff. Includlng an Oper8tlons Managèr, F5llan Offic8r and Propertles Managar. The befrlendlng te8m has 12 p8rt tlme befrlonders, both pald and volunloers. The befrlendlng team have made long temi rel81ion8hlps with our Project members, and much of Ihelr Ilme Is spent vlsltlng arKI supportlng them In Ihelr hornes. Th8 Project also 6mploys three part lime van staff who are 811PPOrted by 5 volunteers lo collecl 8nd d811ver fumltur6 In the ¢ommunlly. Acros6 the shops and vans we have 4 residen18 volunteerlng and 4 r881dents In pald posltlons. In the shops we hava 1 lull Ilme mèmbw of staff and 6 part tFme staff. W8 also have a team of 16+ volunteer8. The Prol8ct offers the ccmmunlty a uSe clearance servlce where th8 items can then be sold In our shops. The Isaiah Proled contlnues io be a 'oompasslon' bas8d mlnlstry reachlng those In the eommunlty who often f881 alon8 or unable to move out of tholr drcumsian¢es wlth¢YJt halp. The team re8pon8lble for the Prolacl Is commltied to be flexlble to 'h88rf the needs of those we erKount8r and lo demonstrate the love of God In the area In whlch w6 are based. Consolidation During the year. The Is818h Project became the benenclal owner of The Isalah Prolecl Llmlled, after oblalnlng ¢ontrol of th6 company from 161h F8bruary 2025. As 8 r8sulL con8011dalad fin8nclal statements have been prepared.
THE ISAIAH PROJECT TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnan¢lal review Income and expendlture shown In theso accounts represents Aprfl 2024 to March 2025. The total income was £1,515,5318nd total expbndlture v188 £1,390,523 leaving a sutplu$ of£125,008 for Ihe year. c81 thls period. we recelv8d £16,830 In grants and £1,883 was raceived In donallon8 And Qades. It is the pollcy of the charfly that unTesldc18d funds whlch havé not been designated for a specffic u58 shoukl be malntalned 81 a level equlv818nt to approximately Ihree month's gxpendlltKe. The Trustee8 consider that raseNes at thls level wll ensure that, In the event of a slgnificant drop In fvndlng, they Mll bè able lo contlnue the tharlty's curr8nt acllvltl88 while conslderats'on Is glvèn lo ways In vthld) addltlonal funds may be raised. Th6 Trust88s have a duty to Identify rlsks and reeW the rlsks to whlch lh8 charity18 èXW)S8d and to ensure approprlal8 conlrols are In placè lo provlde re8s0nable assuranc8 agalnsl fraud and èrror. In Ihe comlng year The Isalah Prc4ect alms to c¥)ntlnve to fulfil Its otlecllves. In dolng so there VAII b8 a contlnued need to s66k lo dlverslfy the fundlng streams that enable The Project to pro8 servlce it does. Expansion has meant that addillon81 befrlend8r8 hava be6n r6crultéd and Iralned as more rosldenls are accommodated. Plan8 for futur• porlod$ We are looklng to further develop the support we glv8 to the members of t)ur proJect and1118 hoped thal In ear 2026 we VAII be abl8 to offer targeted groups uslng the support plans we produ¢a lo Inform us. Th18 wlll ba dependent on ralslng addStional lundlng through grants. We would also liko lo extend th8 programmes we offer our younger resldents. 8tru¢turo, gov•manc• and manag•ment Th618alah Prol8¢118 a ch8rftable Incorwrated org&ni88llon (CIO) govemed by tha foundatfon mod81 constitullon. The Chadty was reg181ered vAth the Ch8rlty Comm1861on on 28th March 2014 8nd commenced acuvllles on 181 January 2015. Prfor lo thls date, The lsalah Prolecl had b&an operallrvJ for several yo8rs as part of Soulhend Chrfsllan Fellowshlp, a ccoporallng Gharlty. In January 2023 we moved our prlndple office to The Isalah Project, Femd81e Road, Southend on Sea, E89ex, 8S2 4DS. The charlty18 reglstsred wlth the Charily CommS8sion In England and Wales and Ils reglstr8t1 numb8r Is 1156428. The Irustees VA)0 $8rved durlng the year and up lo Ihe date of 8lgnatur8 of the flnanc1818t8témènls were: C Cooper H Copping O ArDyehun S Dalley The ch8rlty Is managed by a board of four Iruslees $alect6d because they strongly endorse Ihe charitable oblectlves of tho organlsallon and 8UPPOrt its Chrlslian ethos. When s81&¢llng truslee8, the charlly alms to ensure Ihere18 a br08d range of r8levanl skllls. Trustees are appolnled after inleNiews wllh ex18ting trustees and fomial sits to the organlsalon, lo ensure thal they un(Jerstand our vlslon and valuas. Truslees ao subjecl lo Disclosure and Barrlng Service checks vthere appllcable. Any potentlal Trustee Is made aware of tha legal obllgatlons under Charfty law. The Trust actlvely endorses tralnlng al 811 leve18 of the eharlty. New Iruslees p8rtlclpate In an InduclSon process which Includes becoming famlllar wllh all the Trust's prolecl8', rgcelvlng relevant Informatlon regardlng health and safety 8nd personal safety; 8 copy of the CIO'S ccfjstitullon and rol84elaled knovledge where applicable. New twslees are also gtven copl8s of relevant Ch8rlty CommSsslon Ilterature, Such as "CC3 The Esgentlal Tnjslee. and "Guld8nce frjr Charfly Trustees" Trustees are encour8g8d to undertake development Iralnlw whère approprlate.
THE ISAIAH PROJECT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Isalah Projocl recognlses the need lo provlde a s8f8 and carlng envlronmenl for chlldren, young paople and vulnerable adults. We acknc•wledge th81 childr8n, yOLFng people and vulnerdble adults can be th8 victims of phWcal. sexual and emotlonal abus8, and neglect. Therefore, all pald and voluntary staff worklng wsth vuln8rabte adults undertake wular In468 sofeguardlng Iralning and are Disctosure and Barrlng Servlc Checked. Wh8r8 morg In-depth tralnlng Is Identified as belng required thls wlll be sought from CCPAS (The Churches, Child Protection Adviw SeN¢g), The Isalah Projeci wlll also ansure that chlldren and vulnerable adults are provided vAth infomallon on %there lo g61 help and advic8 In relation to abus8, dlscrimin8tion, bUllng or any other maller vknere they have a concem. Th8 Isaiah Project Safeguarding Policy is ImpSgm8nted by Hazal Copplng Isafeguardlng Coordlnalor), Geraldine Vkker8 {Deputy Safeguarding c(KdInal0r) & Tracy Makepeace. The Trust888' report was 8pproved by th8 Board of TnJsle8S. TnJ8186 OLF i Dated., !S.l.......... .
THE ISAIAH PROJECT STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The truslees are responslble for preparfno the Trust885' Report and the financlal statements In accordance wth appllcable lawand Unlted Kin9dom ACCnng Slandards (Unlted IngdoM GenerallyAccepled Actwnting Practice). The law appllc8ble to charities In England and Wales raqulr8S the trusteès to prepare finandal slat6ments for each fin8nclal y88r which glve a Iwe and falr view of the stalé of affair8 of th• charity and of the Incoming resources and 8pplicalion of resources of the charity for that year. In preparfng these financlal Statements. the tru8tee8 are réqulred to., - 8elecl sultable accountlng pollcjes and thon apply them ISIstentI. - ob8eNe the melhod8 and prlnclple8 In the Charttie6 SORP., - make ludgem8nts and esllmales that 8r8 reasonable and prudent; 81ate wh8thér appllcable 8ccounting standards have been followed. subJoCt lo any malerl81 departure8 diBdo$ed and explalned In the financlal slalements: and - wépare the financial 81al6m8nts on the golng con¢em bas18 unless It Is Inapproprlate lo presume that th8 th8rlty VAII continue In op6r8110n. The Iruslees are responslble for keeplng 8ufflclenl a¢counllng r6cords th81 dlselose wilh reasonable accuracy al 8ny tlrne the financial poslllon of th8 charily and enab them lo ensuré that th8 flnanclal statements ¢omply th the Ch8rlll8s Act 2011, Iha Charily (Accounls and Report81 Regulailons 2008 and the provSslons of the tru81 deed. They ar8 also re$ponslbTro for safeguardlng Ihe assets of the charfly and hence for taklng reasonatle 8iep8 for the prevention and délectlon of fraud and other Irregularltles.
THE ISAIAH PROJECT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE ISAIAH PROJECT Oplnlon We have audlted the finandal statements of The Is8iah Prolect (Ihe 'charity') 8fKI Its subsldlarfes (the 'group') for th8 yèar ended 31st March 2025 whlch cDmprise Ihe Consolidated Slalemenl of Flnancial Acllvltles, the Consolid8ted and Charity B818nce Sheet, Consolldated C8sh Flow Statement and notes to the flnan¢ial slatements, Including a summary of 81gnifi¢ant 8¢countlng polldes, Ilnanclal reporting fram6worf( that has be8n 8pplled In Ihelr preparallon Is appllcable law and Unltad Kingdom A¢countlng SlarNJards, Includlng Flnanclal R6portln9 Standard 102 The Flnanclal Rawting Standard appllcable in th8 UK and Republic of Ireland {Unlled Klngdom Generally Accepted Accountlng Pr8¢Uc8). In our oplnlon. the Ilnanclal statements: Give a Irue and falr vlew of the stale of the group'8 and of the charlty's affalrs 88 al 31 $1 March 2025 end of th8 group's Incomlng resourc8s and appllcallon of resources, for the year thon end8d; have been property pr8pared In a¢cordance with Untted Klngdom Gen&r8lly Accepted Accountlng Prncllco., and have bean pr8par8d In acrdanCe wlth the r8qulrements of the Companles Act 2006. Ba•ls for oplnlon We condu¢l8d our audlt In accordance wllh Intematlonal Slendards on Audltlng (UK) (ISAS {UK)) and appllcabl6 law. Our sponsIbIlItIeS under thoso standards are further descrlbèd In the Audltor's r8sponslbllllles for the audll of th8 finandal 8talernents sedlon of our report. We are Independent of Ihe ¢harlly In 8ccordance vAth Ihe 8thlcal requirements that are relevanl to our audll ofthe flnandal stal8m6nts In tha UK. Induding tha FRC'S Elhlc81 Slandard. and we have fuiniied our othér ethlcal r88ponslbllltles In accordance wllh the88 r6qulrements. W8 balieve th81 the audlt evldenca we h8v8 obtalned Is sufflclent and approprfale to provld& a b8sls for our oplnlon. Conclusions relatlng to golng concom In audltlng lh6 f*nanclal stalernents. we hav& concludéd that the Tru81888' Use of the oolng canM basls ofaccounllng In Ihe prepaiallon of the flnanclal statements Is approprlale. Based on th8 work we h8ve performed, w6 h8ve not Idenllfied any malaal uncertalnlies relallng to events or Ddlllons that, Indlvldually or collecllv&ly, m8y cast slgnificant d¢xJbt on the group's and ch8rlty'8 ability lo ¢onllnue as a golng Concern for a pevlod of at least Iw8lva months from when the flnanclal statements are aulhorisad for Issue. Our r88ponslbllltles and the responslblllll•s of the Irustèa8 wlth respect lo golng concem ar6 descrlbéd In ihe ralevant 6ectEons of Ihls report, othèr Infomiallon The other Informatlon comprlses the Infomiatlon Snduded in the annual report other than Ihe financlal slalements and our audIt6 report Ih8reon. tnjsteas are responslble for the olher Informatlon contalned withln th8 annual report. Our opinion on the Ilnand81 slalements does not cover the other Informalion and we do not expre88 any form of assurance concluskin thereon. Our responslbllrty Is to read the other Informallon and. in doing so. conslder whelh8r the other Inform81ion18 m8terfally Inconslslènl with the fln8nclal statements or our knowledge oblalned In the course of the audit, or otherwlse appears lo be m8terlally misstated. If we Identify SUGh material in¢onslstenc4es or apparent malerial mlsstslemenls, we are requlred to delemlne whether Ihls glvgs rlse (o a material misstatement In lh8 financlal slalement8 thèmselves. If. bas8d on the work we have perfomied. we conclude that there Is a materlal mlsslatemenl of Ihls other Infom18tlon, we are required to report that fact. We have rthIng to report In this regard.
THE ISAIAH PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ISAIAH PROJECT Matters on whlch we are requlred to report by exceptlon We have nothlng lo r6POrt In respect of Ihe folk)wlng matters In relatton to which the Char1118s {knounts and Reports) Regulations r8quir8 us lo report lo you if, in our opinion.. the informatFon given In the financlal ststaments 18 inconstant in any material rèspect wlth Ihe TNstees' report; or suffldent accountlng records have not been k8ptr, or the flnanclal statements are not In agreernent wth th8 accounllng re¢cYds; or wa h8ve not recelved all the Informatlon and exp18n8tlon8 we requlre for our audll. R•8pon8lbllltle6 of truste08 As explained more fully In the st81amenl of Trustees, responslblllttes, the trustees are responslble for the preparallon of the flnanc¢al slalemenls and for belng satSsfi8d that Ih&y glve a true and falr vlew. and for such Inlémal control as the truslee8 determlne 1$ nec6ssary to gnablo Ihe preparallon of financial sl8lem6nts that are free from Mate81 mlsslalement, wh8ther due to fraud or error. In preparing the fln8naal slalements, the trustees aro re8pon8lbl8 for assesslng the group's and charfty's ablllty to eonllnue as a golng concern. dlscloslng, as appllcable. matters relat8d to golng conc8m and uslng thè golng concem ba8ls of accounting unle$8 thé tnjstees elth8r intend lo ceas 0ratIons, or have no rg8118d¢ allernatlve but to do so. Audltof8 re8pon$lblllths for th• audlt of lh• flnanclal 8tataments We hav8 bean appolntad 8s audllor under secllon 144 of tho Charftles Act 2011 and report In accordance vAth the Act and relevant regulauons made or havlng effact Ih8reunder. Our oblecdves 8ra lo obtaln reasonable a$sur8nce aboul wh8thér the financlal $18t8ménls as a whole are free from malerlal misgtalemenl, whether duè lo fraud or error, and lo Issue an audiiorfs rèport that Indudos our oplnlon. Reasonable assurance15 a hlgh lev&1 of assurance bul Ss Dol a guaranlee that on eudlt conducled In accordance rf1h ISAS {UKI wll always d816cl a materlal mi6Sta16m8nl when It exlsts. Mlsst8tements c8n arl88 fr¢Jm fraud or arror and are consld6rgd materfal If, Indlvldually or In Ihe aggregate, they could reasonabty be 6xp8cted to Influence the ewnomlc d8cislon8 of USèTS taken on the bas18 of these financlal stalemenls. A further descrtption of OUT re8ponslbllltl8s Is avallable on the Flnancl81 Reportlno Councll's webslta aL http8.'11 .frc.org.uklauditorsre8pon8lbllllles. This descrtpllon forms part of our audilorfs report,
THE ISAIAH PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ISAIAH PROJECT Exienl to which the audlt was consldered capable of detecting irregularitses, Indudlng fraud Irregulariti88. including fraud, are Inst8nc8s of non-compliance with laws and regu18tions. We deslgn proc8dure8 In Ilne wlth our respon8ibililles, outlln8d abov6 and on the Flnandal Rawtlng Councll's webslte, to detect material ml8ststemenls kn respeot of Irregularltles, including fraud. We oblaln and update our understanding of Ihe entity, its activitles. its control environment, and likely fvture developments, includlng in rnIat1 lo Ihe laoal and regulatory framework applicable and how the entity is complying vAth that framework. Based on Ihl8 und8r8tandlng, we Identlfy and asse99 the rfsks of matedal misstalernent of the nanclal 8tat8ments, whether due to fr8ud CK 8rror, dèslgn and p8rf0rn audll procedures resporvalve lo those rlsks, and d>taln audll evldence that Is sufficlent and appropri818 lo provsde 8 basis for our oplnlon. Th15 Includes Conslderatlon of the rlsk of acts by tha entlty that were contrary lo appllcabl8 Savts and regUlaOnS, induding fraud. In résponse lo the risk of Irr8gul8riti88 and non-compll8nc4 vAth laws and regulatlon8, Includino fraud, we de81gned proc6dures thlch Induded.. Er)qulry of m8nagemènt and those charged wllh govemance around actual and polenll81111198lson and dalm8 88 W811 as actual. suspected and alleged fraud. RevIeng minules of meatings of those charged wlth aovemance; Ass6sslng the extent of compllance 1h the laws and regulatlons considered to have a d5¢1 malori81 effecl on th8 flnancial stalements or the operalions of the entlty thrixjgh enqulry and inspeclion; Revlewng financial Slalement dlsclosure8 and 18sllng to supportlThJ docum8nlalion to a8s888 compllance wlth appllcablé lav and reoulallon$', Perfomilng audlt woth over th8 rfsk of management b186 and overrld8 of controls, Includlng tsstlnll oflournal enlrles and olher adlu8trnenls for appropriateness, evalu8llng the bu81ness rallonalè of 8lgnlflcant tr8ns8cUons outslde the nomial course of buslness and revlewlng accounllng esllm8tss for Ind1¢81or8 of polent181 bla8. Because of the Inhèr8Dt Ilmlta14on8 of an audh, Ihere Ss a rl8k that we wlll not detect all lrragul8re8, Includlng those leadlng to a materfal mlsstalement In the financlal slalèments or nOnomplIanca wlth régulallon. This rlsk Increases the mor8 thal compll8nce wlth a law or regulatlon L8 removed from tho events and transacllons r8fl8¢18d In the flnanclal 8tstemen18, 88 we 11 be le88 Ilkely lo become awaré of instance8 of non-compllaD¢e. The rlsk of nol detecting a malgrial mlsslatement resultlng from fraud Is hlgher than for one r8suSllng from error, as fr8ud may Involve Oolluslon, forg6ry, Inlénllonal omlsslons, mlsrepresentatlons. or the ov8thde ol Internal eonlrol. Other matters Your 8118nllon Is dravm to the fact thal the charlty has prepared fln8ndal st8tem8nis In acCrd8nc0 wSth 'Accounllng and Reportlng by Charlt16s'. Statoment of Recommended Pra¢llc* appllcable lo ch8rftl88 preparlng thelr accounls In accord8Dce vllh the Financl81 Reporting Standard 8ppllcable In the UK and Republlc of Ireland (FRS 102). {a8 amended) in preference lo Ihe Accounting and Reportlng by Charltles.. Statement of Rècommended Practlce Issued on 1 Apyll 2¢)05 whlch Is referred to In Ihe extsnt regulallons but has now been vAthdrawn. This h88 bean done In order for the financial staternènts to provld8 8 tnje and lalr vlew In accordance vlth current Generally Accepted Accounllng Pr8Ctlce. Usè of our report Thls report Is made solely to Ihe charit8 tW81ees, as a body. in adarIce With part 4 of Ihe cha118 (Accounts arml Reporis) Ragulatlons 2(M)8. Our audlt work has bean undertaken so that we might sla1810 the charitys Irusleès those matters we are requlred to stste to them In an auditorfs parI and fN no other purpose. To the fullest axient permStted by law. we do not accept or assume r8sponslblllty to anyon8 olher th8n the th8rlty and the charitys twste8S as a body, for our audil work, for this report, or for the oplnions we have fomed.
THE ISAIAH PROJECT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE ISAIAH PROJECT Jullan Goldlng (Senlor Statutory Audllorl for and on behalf of Az•ts Audlt Servlc08 15..1.q..LLg1• Chartered Accountants Stat(•tory Audltor 7- 8 Brltannla Bu$lrw88 Pafk Comel Way SoulhendQn-Sea Essex Unltad Klngdom SS2 6GE Az8ts Audlt SoThlc66 Is ellolble for apwlntsnant 88 8udllor of lh8 charlty by vlrtua of Its ellglblllly for 8ppolntm8nl as audltor of a company under secllon 1212 of Ihg Companle8 Act 2008.
THE ISAIAH PROJECT CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 UnrtrIcted Restricted funds funds 2025 2025 Total Unrestrlcted lunds 2024 Restricted funds 2024 Total 2025 2024 Notss Donatlons and18gacles Ch8ritabl8 8ctivllles Other Iradlng activities 18,713 1.021,702 410,116 18,713 65,000 1,088,702 410,116 6,8 872,513 346,261 6,908 911,043 346,261 38,530 Total In¢omo 1,450,531 85,000 1,515,531 1,225,682 38,530 1.264.212 Ralslng fund8 344,679 344,679 287,580 287.580 Charltable aCtItIeS 988,167 57.677 1,04S,844 873,439 38,530 911,969 Total r8sour¢o8 exponded 1,332,846 57,677 1,390,523 1.161,019 38,S30 1,199.549 Net g81n81{los$esl on inveslmonts 12 21,247 21,247 Net Inc¢ma for thè yearl N?t movemont In funds 117,685 7,323 125.008 85.910 85,910 Fund balances at 1 April 2024 644,248 5,384 549,630 458,336 5,384 463,720 Fund b8lancos at 31 March 2025 661,931 12,707 674,638 544,246 5,384 549,630 The statement of financlal activltles Includes 811 galns and losses recognlsed In thé year. All Incl8 and expendlture derlvo from contlnulng a1108. 10-
THE ISAIAH PROJECT CONSOLIDATED BALANCE SHEET AS A T31 MARCH 2025 2023 2024 Flxod a•*ol• Negatlve goodwlll Tanglble assets 14 18 {21,6031 441,138 Curr•nt a•8•t8 Oebtors C8sh al bank and In hand 17 74,526 199,764 274,290 Crodltor•: amount• f•lllng du• wlthln on8 yoar 18 (19,187) Nel current a88et8 255.103 Totsl a•8•ts1•48 curr•nt11obllltl•• 674.638 Incorn• fund8 Reslrfcled fund8 20 12,707 De81gnaled funds General unre8tr1eted fund8 661,931 681,931 674,638 The financlal stAtem8nts ware approvad by tho Tru8tees ..l¥l.9.4+.1. 2026 TN8t sYeuEJ fJaLL&.y. 11
THE ISAIAH PROJECT CHARITY BALANCE SHEET {CONTINUED) AS AT31 MARCH 2025 2025 2024 Not•o Flx•d as8•ts Tangible 8S8ets Investment 16 10 141,138 142.171 141,140 142.171 Currnnt as••t• D8biors Cash at bank and In hand 17 354,673 189,072 133,307 308,010 543.745 441,317 Cr•dllorn: amounts lalllng du• wlthln ono year 18 (11,578) {33,858) Net curront 8888ts 632,187 407,459 Tolal ¢urr•nt Ilabllltla• 673,307 549,630 In¢omo fund8 Re8lrf¢led funds 20 12,707 5,384 Daslgnatad funds Gen8ral unrestslcted funds 340,221 204.025 660,6Cp) 660,600 644,246 673,307 549,630 Is /. ts4-12c*2G Th8 flnanelal ststsments yra approved by the TN8tee8 on .. . Tru8tO0 LLey 12-
THE ISAIAH PROJECT CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Not•8 C•*h flow8 from op•ratlng actlvltl•B Ca8h generated from 4)peratlon$ 22 168.813 Inv•stlng a¢tlvltl•• Intanglblo a$sel on ¢on8olld8tlon Tanglbl• fix•d assets on bu8ln8$8 ¢omblnatlon 21,803 1300,6641 N•t Ga¥h umd In Inv••tlng a¢tlvltlo• {279,0611 Nel cash u8•d In flnan¢lng acllvltl•8 N•t (d•¢r•a••lllncrna•o In ¢aih and ca•h •qulval•nl• {112,248) C88h and caah equfvalents 8t bgglnnlng of year 308.010 Ca8h •nd o&•h oqulvalént• at •nd ol year 199,764 13-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollclgs Charlty Infom)allon The18alah Projecl Is a ¢h8rltabl8 In¢00[aled organlsation {CIOI govemed by the fourm1a0n model constitutton. The ch8rity was roglstered wlth the Charfiy CommlssEon 28th March 2014 and commenced aclfvlties on 1st January 2015. Prlcff to Ihis dale. The188iah Prolaot has b8en oper8llng for several years as part of Southend Christian Fellowship, 8 cooperating charily, 2.1 Accountlng ¢onventlon The finandal 81atements have been prep8red In accordance with the ch8rfty8 Igovemlno diKumentl, the ChaYltSes Act 2011, FRS 102 'The Financlal Reportlng Standard applicablè In the UK and Republic of Ireland" rFRS 102") 8nd the Chari118s SORP 'Accountlng and Reportlng by Charlll8s'. Stal8menl ol R6commended Practlce appllc8bl8 lo charities preparfng th8ir acccAJnls In accordance with the Financial Reporting Standard appllcable Sn Ihe UK and Republlc of Ireland (FRS 102)" {effectlve 1 January 2019). The charlty 18 a Publlc Beneflt Entity as deflned by FRS 102. Th& fln8ndal 8tatem8nts ha departed from the Charflle8 (Accounts and Reports) Regulations 2008 only to Ihe éxtent requlred to provlde a Irue and falr vlèw. Thls doparture has Involved folk)wlng the Slalemenl of Recommendéd Pradka for charlties applylng FRS 102 rather than the verslon of lh8 Slalement of Recommended Practs'ce whlch Is referred to In Ihe R@gulalions but whlch has 8lnc6 been withdrawn. The financlal 8latèm8nls are prepared In sterllng, whlth Is lh8 functlonal cUrreY of the ¢h8rlly. Monetsry amounts In Ihesg ftnancl81 statèments aré roLFnd8d to the nearest £. The financl81 statements have Èé6n prep8r8d under the hlslorlcal cost conventlon, modlfied lo Include the revaluollon of freehold propertles and to Include Inveslrnenl propertSes and rtain fin8nclal instruments al falr value. The prfndp818ccounllng pollcles adopted are set out below. Where control Is 8x8rci86d by the parent charlty ovèr anothgr entlty, thos8 entilies are consolldaled as subsldiarles on 8 line-by41ne basi5 In accordance with FRS 102 - sectlon 9 and the Charlues SORP (FRS102). Detalls of these entltles are glven In note 15 to the flnanclal stal8m8nts. A s8parnle st8t8menl of flnanclal aclivill88 for the charftable company has not beon presented be¢aus8 the charltable company has taken advantage ofthe exemptlon afforded by Section 408 of the Companles Act 2006. 2.2 Going eoncern At the Ilme of approvlng tho flnanclal statements, the tNstaes havé a reasonable explatIOn that lh8 charfty has adequate resources lo condnu8 In operatlonal existenc8 for the foreséeable futur8. Thus the trusts88 contlnue to adopt the golng ncern basls of accountlng In preparing the financl81 statements. 2.3 Charltable funds Unr8Strlcted funds are available for use at the dlsctstlon of the trustees ID lurtharanca of Ihelr charltable objectlves unless the funds have been de61gned for olher purposes. Deslgnated funds comprSse funds whlch have been set aslde 81 Ihe dlscretlon of thé Twstees speclflc purp088s. The purposes and uses of the designated fund$ are sel out In th8 notes to lh8 finandal 8talemenls. Restslcted funds are subject lo specific condhlons by donCS as to how Ihey may b8 used. Tha Purposes and Uses of the restrlcted funds are set out in the notes to the financial st8temenls. Endowm6nt funds are suLlect to sp8dfi¢ condStion8 by donors that the capll81 musl be maintalned by the charity. 14
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounllng pollcl88 2.4 Incomè Income Is recognised vthen the ChatY Is legally entitled to it after any FrformanCe ¢ondltlons have been met, the amounls can be mea6ur8d reliably, and It18 probable ihat Income bo rèe8hied. Cash donatlons are recognlsed on recelpi. other donatlons are recognls8d once the charfiy has bgen notméd ol the donation, unless performanc& conditions require deferral of th8 amount. Incomé lax recoverable in lallon lo donallons recelved under Glft Ald or deed8 of covenant Is racognised al the tlme of the donatlon. Tumover 16 measur8d at the falr value of thè nSideratIon r6eèlv8d or rec6lvablé and repr886nt8 8mounts re1vable for goods and sebvlce8 provlded in Ihe nom7al courBe of bu81ness, net of d18counts, VAT and other sales r6laléd lax6S. 2.5 Expendlturo Tradlng costs ¢¢xnpr188 all expendlture Sncurred In th6 op8rallon of Gharity 8hop8 raise Income for the charfly as well 8S an awane$S of Ils work. Expendftur8 on tharltable sctltIeS InGlude8 all exp8ndltur6 dlreclly related to the provlslon of the maln acllvltles of the charlty. Costs that ar8 retaled to Ihe runnlng of the charfty but not dlractly attrfbutable to a ¢heble 8clivlty ere 811ocaled beNve6n activlll88 and Ir8dlng costs on 8n approprl819 basls, 2.6 Intanglble flxad a$80t8 - goodwlll Goodwlll rw6s8nts the excess of the cost of acqulslllon ol unInrporated bu8lnes8es over the falr value of nel a88els acqulred. 11 Is Ini118lly reMgnlsed as an asset al co81 and Is subsoquently measured 81 CLJSI 16ss accumulated amortlsation and accumul8ted impaimienl108ses. Goodwlll shall be consldered lo have a flnlte useful Ilfe, and shall be amortlsed on a syslemauc ba816 ovw118 Ilfe. N atlve odwl If tha fair value of the Idenllflable nel 8888ts acqulred ex¢eed8 the conslderatlon tran8ferred. the surplus Is recognl8ed 88 negallve goodvAII. Béfore recognlslng negallve good%[1, the charlly re8s8es8es whether all acqulred a888tS and Ilablliuès have been corroclly Identllled and me88ur8d In accordane* vAlh FRS 102. 2.7 Tanglbl8 IIx8d assats Tanglble flx8d as88ts are lnltl8lly measured 81 cost and subsoquently m88sured al cost or valuallon, Ml of deweclatlon and any Impalmw)I Ios80S. Depr8ci81ion 18 reGthJnised so as to wrile off tha cost or valualon of asset8 I$ thelr resklual valuas over Ihair useful live8 on the fdlowlng ba8es'. Freehold land and buildlngs Flxlures, fillings & equlpmenl Computers Motor vehlcles Not depreciated 25% on cost 25% on cost 25% on cost The galn or Soss adslng on th6 dl$pos81 of an asset Is det8rmlned as the dlff8rence belween the Sele proceeds and the carylng value of the ass81, and Is r6cognls8d In the statement of tinanclal activillos. f5-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 AcMuntlng pollcle8 Fr88hold propertlés ara dePlated over Ihelr estimated u86ful economlc lives of 50 years. However, the resldual value of 88ch property Is LX)nsld8r8d lo be high due lo rep81r.and malnlenanc8 works. Accordlngly, the dlrectors consldered the depreciauon charge for the year ar)d on 8 cumulallve basis to be Immabrlal. Prop6rties whose falr value can be measured rellabty are held under the revaluatlon model and are carried at a revalued amount, belng their f81r value al the dat8 of valuation less any subsaqu8nl accumulated depraclation and subsequ6nl accumulated lrnpalmient losses. Revaluatlon galn8 and1088e8 afe recognlsed In olher recognlsed galns and1088eS 8nd accumulated in 8quIIy. except io the extent that a revaluallon galn reverses a revaluation loss préviously recognlsed in net Incomel {exp8nditure) or a rev8lualk)n loss exceeds the accumulated revaluatlon g81ns rewgnised In eqully., such galn8 and loss are recognI88d In nel incomel(exp8nditure) for the year. 2.8 Impalmiont Of ftxed assots At each reporting end d818. th8 tharfty revl8ws the carrylng amounts of It8 tanglble and intanglblé ass8ts to d8temiln6 whether there Is any indicalion that those assets have suffered 8n Impalrment Ioss. If ary such Indlcatkjn 8xEsts, lh6 r0Verable 8mount of the asset Is estlmated in order to delemln8 the extent of the Impalrmenl108s (If any). Intangiblè a88818 th Indefinlle useful Itves 8nd Inlanglbl8 assets not yel avallable for use are188ted for Impalmenl annualty, and whenever there is an Indlcallon that the 8SS8t may b8 impalred. 2.9 C8•h and Gash •qulval8nts Cash and cash 6quivalents Include cash In hand, dgposlts held al call vAlh b8nk8, other $hort4em Ilquld Investments with orlglnal malurilles of three month$ or188s, and bank overdrafts. Bank overdrafts are shown wlthln borrovAngs Sn currenl Ilabllllles. 2.10 Flnanclal In•trum•ntJ The charlty has elecled to apply the Provlslons of Section 11 'Baslc Fln8n¢lal Instrum8nt8' and Secllon 12'0ther Flnanclal Instruments Issues, of FRS 102 to all of Its financlal Inslrum8nts. Flnanclal Instruments are recognlsed In the ch8rlty'S balance 8héet the ch8rlty becomes p8ty to the ¢ontractual provislons of lh8 Instwment. Flnanclal assets and Ilablllttes are offsel. th the nel amounts presented In the fin8nclal slaternents, when Ihere Ss a legally enfeeabIfj rlght lo sél off the r8cogni88d amounts and there Is Én Intention to sellle a net basls or lo reallse the asset and sellle th8 Ilabllity slmullaneously. Bas1¢ flnanclal assats Baslc flnancial assets, which Indude debtors and cash and bank balan¢6s, aré Inltlally measured at transaction pricè Includlng transacllon costs and are subsequenlly carrfed al amt)rtlsed cost uslng the effectlve Inl8rest melhod unless the arrangem8nl conslltules 8 financing Iran8aclloD, vthere the transaction Is measured at Ihe present value of the futurè r8c8lpls dIoUnted al 8 market rate of Interest. Flnandal 8ss8ts dassified a8 r¢Jcelvable wlthin one year are not amortised.
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollclos Baslc flnanclal Ilabilltles Basic flnanclal IlaNlldes. including credltors and bank loans are Initialiy re¢ognlsed at Iransacllon prlce unless the arrangamenl ¢onstilutes a financlng Iransactlon. vthere th8 debt Instnjmenl is measured at the present value of the future payments dlscounl8d at a market rate of Intere8t, Flnanclal liabllilles cl88sified as payable ¥thIn ona year a not 8morUsed. Debt Instrumonls 8re subsequently cardéd at amortised ojst. uslng the effo¢Uve Inter661 rate method. Trade credltors are obllgallons lo pay for gcods or 58rvlces that have b88n acqulred In Ihe ordlnary cours6 of operations from suppllers. Amounts payable are cl888ified as current liabllllies rf paym8nl is due thIn one year or less. If not. they 8rè presented as non-currenl Ilabililles. Trad8 credltors are recogni86d Inillally at transactlon prlce and SubSequenY measured at amortised cost uslng thé effectlve Int8rest molhod. Dorncognltlon of flnanclal Il•bllltlè8 Fln8nclal Ilabllitses are derecxjgnlsed vA)en the charfty'8 contractU81 obli9allons explr8 or are di8charged or cancelled. 2.11 Employ•0 boneflts The cost of any unused hollday enlltlemenl Is re¢ognlsed In the perlod In whlch tha employ86'8 8ervlc8s are rec6lv8d. Tennln8llon berlS are recognlsed Immedlalely as an expense when the chartty Is demon81rably commltted lo lermlnale the employment of an employee or lo provlde18rminallon beneflts. 2.12 R¢tlrem•nt baneflt8 Paymen18 to defined wnlrfbutlon retirement beneflt schemes are ¢harg8d a8 an expenee a8 they fall due. Crltl¢al accountlng 6stlmat6s and Judgements In the appllcatlon of the charfty'8 accounllng pollaes, the trust8e8 are requlred to make ludgemenls, e8timates 8nd a8sumpllons 8boul the carying amounl of assets and Ilabllllle8 thal are not readlly apparent from other sourc8s. The estlmales and assoclated assumptlons are based on hislorfcal experlence and other factors Ihal are consld8red to b8 relevant. Actual results may dlffer from these estlmates. The eslimales and underlylng 8ssumptlons are revlewed on an ongolng basls. Ravlslons lo accountlng e8llmate8 ar8 recognlsed In the period In whl¢h the estimate Is r8vl$ed where the Tevislon affects only that perlod. or In th8 per1j of the revlslon and future perlods where the r8vislon affeGls both currènt and future perlods. Investment property V8luatlon The valuallon of Inv081rnent propertles Is 8 key source of estlmation uncertalniy due to the inherent sui¥ectlvity Involved In asse8sin9 fair value. Invesimenl properties are measured al falr value al the r8POrtlng date In aCrdance vAth FRS 102. Falr value is delermlned based on an Independent professlonal valualion or, where this Is not praGllcable. by the Inlslees uslng av8118ble markat evidence. These valuallons involve a number of gnificanl Judgem8nt8 and estimètes. 17-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donallons and legacles Unre•trleted Unr881rlcled funds funds Tot81 2025 2024 2024 Don8tlon8 8nd glft8 Government gr8nts 1,883 16.830 6,908 18.713 6.908 6,908 18-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other Iradlng aetlvltl•• Unra8trlGt•d Unr•atrlctsd funds fund* 2025 2024 Shop Income 410,118 346,261 RaS8lng fund• Unr••trlctod Unr•itrlct•d fund• fund8 2025 2024 Operatlng charlty 8hop8 Support ¢08t8 83,122 261,557 73,575 214,005 Tradlng cos18 344,679 287,580 344,679 287,580
J (ry**a) crj N (o ¢0 o)
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support GOSt6 Support Governance Q5ts Gos15 2025 Support G*Jvomance costs costs 2024 Staff cosls Oepreclatlon In8urance Accountancy Bank Charges Comwter Cost8 Audlt fe8s Postage, Prfnung & Statlonery Telephon88 Olher Rent 434,042 1,696 7,386 3,389 3,551 2,578 6,450 434,042 1.696 7,386 3,389 3,551 2,576 6,450 357,098 1,627 6,261 6,060 3,050 357,098 1.627 6,261 6,060 3,050 1,604 1,710 1.791 7.019 10,674 1.710 1,791 7,019 10,674 2.319 1,798 4,207 9,296 2,319 1,798 4,207 9,296 480,284 480,284 393,320 393,320 Analysed belween Tradlng Charitable acllvllle8 261,S57 218.727 261,557 218,727 214,005 179,315 214,005 179,315 480,284 480,284 393.320 393,320 Support Costs are alk¢aled lo Ihe aCtIty that they ralate and th8n spllt equally over the 8cINitle8 of the th8rity. Included above In Support costs 8re audlt fees of £6,500 (2024- £6,060). The prior year in r818tion lo an Independ8nl report, Posted wlthln accountancy fees. 10 Trusto88 Two of the ft)ur trustees ar8 employed as pamitt8d by the cha13 conslltutlon. Thdr salary Is dlscussad In Ihelr absence at trustees, meedng8. The 8mounts pakl lo tru8tee8 In r88pect of r8munar8tK)n durfng the p6rlod were as follows: £18,687 (2024 - £19,321) - £nll (2024 - £402) No truste8s werè remuneraled for Iho rol8 of trustee. -22-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employoe$ Tho av8fage monthly number of omployees durlng the year was,. 2025 Numbar 2024 Numbor All ernployees 31 Employm•nt C18 2023 2024 W8ge8 8nd salarle8 Sodal 8ecudty c08ts Othor pen8lon co818 400.389 20,849 13,004 331,837 14,562 10,899 434,042 357,098 Ther8 were no 8mployee8 wh08e annual remuneratlon wa8 £60,000 or more. 12 N•t g*sn{lo•s06l on Inv•atmont• Total Unr•8trlcted fvnd$ 2025 2024 Ravaluatlon of Inv•8tmenl propertles 21,247 13 Taxatlon ou Corporallon lax fiablllty wllhln tr8dltoryd of £4.001 ralat89 to lsalah Pn)l•cl Limllad, Th8 charlty Is exempt from tax on Incomè 8nd galns falllng withln sectl(M 505 of tha T8xes Act 1988 or 8eclbn 252 of the Taxation of Chargeable Galns Act 1992 to the exlenl Ih8t these are applled to Ils Charltab oblects. -23-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Intanglbla flxed assets •¥atlYo goodwlll GROU C08t At l April 2024 Additions - separately acqulrad (21,6031 At 31 March 2025 {21,603) Amortl8atlon and Impalrment At 1 Aprll 2024 and 31 March 2025 Carrylng amount At 31 March 2025 (21,603) At 31 Mah 2024 Ther8 are no Int8nglble flxed 8888ts wllhln the Charfty, On 16th February 2025, the charlty boGam8 the benefidal ownar of The18alah ProJe¢t Llmlted. The tran8a¢Uon m9t the d8fln6tlon of a buslnes$ MbInatIon undèr FRS 102 and has been account for uslng the purehase method. No conslderatlon was transferred. The Identlfiabla assets and IlabllStles were recogn18ed at fair value at the a¢qulslUon d8t8. As Ihe falr v81ua of the nel as88t8 acqulred exceeded the cost of the comblnatlon, negatlve goodwlll ha8 been re¢ognl8ed. In accordance wlth FRS 102, n8g8tlve goodwlll relaung to non-monelary 8sseis has been deferred and18 belng released lo Income on a systemailc basls that reflec18 the consumpllon of the related 86sets, typically allgned wlth the Income generated from Investmeni properties. 15 Flxed Asset Inve8tm8nt 2025 2024 Investment In subsldlarlos On 161h February 2025, the charfty became tho benefic181 ownér of The Is818h Project Llmlted, As at 31•1 March 2025. The Isalah ProJeGt Limited held capital and re8erves of £20,155. Th8 r8sult8 ofThe Isaiah Pralect Llmlted h8V8 be8n nsOl1d8tOd In these financl81 statemenls from the pc4nt of acqulsltion. -24-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Tanglblo flxod a16el8 Freohold land •nd bulldlnqs Flxtur•¥, flttlnp8 & •qulpmont Compul•r¥ Motor whlcl•• Total Cost At 1 Aprll 2024 Addillons 8u8lnes$ comt4natlon8 140,000 1,307 157 2,929 607 149.436 664 300,000 300,000 At 31 March 2025 440.000 1,464 3,436 5,200 450,100 D•precladon and Impalmi•nl At 1 Aprfl 2024 Depreclalton charged In th8 year 967 116 2,399 7,288 1,696 1,300 At 31 March 2025 1,083 2.679 5.200 8,962 Carrylng amounl Al 31 M8r¢h 2025 440,0 381 757 441,138 Ai 31 March 2024 140,000 340 531 142.171 -25-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Tanglbl• flxod ass•t8 (cont'd) Fr••hald land •nd bulldlng Flxtur••, fllllny & •qulpm•nt Compyt•r• Motor v•hlol•• Tolal CH Cosl At 1 Aprll 2024 Addltlons 140,000 1,307 157 2.929 507 5,200 149,438 At 31 M8r¢h 2025 140,000 1.464 3,436 5,200 150,100 D•praclatlon Ind Impalrm•nt At 1 AprS12024 Oepredatlon charged In the y68r 967 118 2,399 7,266 1,696 At 31 March 2026 1,083 2.679 5,200 8,982 Carrylng amount At 31 March 2025 140.000 381 757 141,138 At 31 March 2024 140,000 340 531 1,300 142,171 17 O•btor• 2025 2024 Amounts falllng du• wlthln on• y•ar: Trade debtor8 Other d8blor8 73,723 803 74,526
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Dobtors (cont'd) 2025 2024 HA Trade debtors Amounts owed by 8ub$ldiary und8rtakSng8 Oth8r doblor8 73,723 280,147 55.628 Tl,679 354.673 133,307 18 Cr•dltor•.' amounts lalllng'du• wlthln on• y•ar 2025 2024 oup Corporatlon tax payable Other cr8dltor8 Accrua18 and delerred Income 4,001 10,686 4,600 19,187 2025 2024 HA Trade credltors Olher credl¢or8 Ac¢Na18 and deferred Incomo 2,687 28.731 4,440 8,978 4,600 11,578 33,858 19 R•tlr•ment b•n•flt ich•m•• D•flnad contrlbutlon 8ch•m The chadty op8r8les a deflned contribut1c penslon scheme for all qualSfylng employ88s, Th8 898éts of the scherne are held $8par8tely from those of the charlty In an independentty adminl$tered fund. The charge to profll or loss In resped of defined conlrlbullon sch8me5 was £13,004 (2024 - £10,699>, -27-
THE ISAIAH PROJECT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Reltrlded funds OUPA D CHAR The Income funds of the charlly Include restricted funds comprislng the followlng unexpended balances of donetlons and granls hekl trust for sp8dffc purposes: Movement In fund8 Incomln R••our¢•8 Balone• at rOure •xp•nd•d 1 Aprfl 2024 Movam•nt In fund8 R•80urc•• Baln¢è al •xpend•d 31 Morth 2020 Balanc• 4t 1 Aprll 2023 res¢yJrce• ELF Fundlng 5.384 38,630 (38,530) 5,384 65.000 {57.677) 12,707 Restricted fund8 Include Inco from Th8 E8$ential Llving Fund, provided by Soulhend on S88 Clty Councll io support those In need for essentl81 costs Including for the purchase of beds. 21 Analy81s of not assots belw•en fund8 UnrostTlet•d Re8trl¢t•d funds fund8 2025 2025 Total Unr•Btrl¢ted R•trlctod funds fund• 2024 2024 Total 2025 2024 Fund ba18nces at 31 March 2025 are r8pre8ented by., Intanglble fixed assets Tangible assats Current a8$etsl(IlablllOes) (21,603) 441,138 242.398 (21,803) 441,138 255.103 142,171 407,459 142.171 407,459 12,707 661,931 12,707 674.638 549.630 549.630 22 Ca8h genorated from op8ratlon8 2025 2024 Surplu8 for th8 ye8r 125,008 85.910 Adlustmenls for: Fair value galns and losses on Investment propertles Depreciatlon and Imp81mwnt of tanglble fixed a66ets (21,247) 1,627 Movaments In worklng capltsl: Decre8$81(Incr8ase) In debtors (Decreaseylncrease in credliors 58.781 (18,672) (30,241) 8,552 Ca8h g8nerated from oporallons 166.813 44,601 -28-