Company Registratlon Number: 08973811 Charity Registration Number: 1159508 REFUGEE FUTURES LTD (a Company Limited by Guarantee) ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 30APRIL2025 •AIIIJIYO* 2311212025 COMPANIES HOUSE
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.REFUGEE FUTURES LTD (a Company Limited byGuarantee) REPORTSAND FINANCIALSTATEMENTS FOR THE YEAR ENDED 30APRIL2025 Trustees. Annual Report linctuding Directors. Report) Independent Examiner's Report to the Trustees Statement of Financial Activitieslsummary Income and Expenditure Account Balance Sheel Notes to the Financial Statements 10-16
REFUGEE FUTURES LTD .(a Company Limited by Guarantee) TRUSTEES. ANNUAL REPORT The trustees present their report and the unaudited financial statemenls of the Charitable Company for the year ended 30 April 2025. The financial statements have been prepared in accordance with the accounting policies Set out in the notes to the accounts and comply with the charity's governing documents. the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. published in October 2019. The direclors of the ch8rit8ble ¢omp8ny are it8 trustees for the purposes of charity law. Details of the trustees who have served duringthe year and since the year end can be found on page 5. Objectives and activities The primary obj8cI of the charity read8 as follows.. The promotion of social inclusion for the public benefit among people who are refugees. 8sylum seekers and their dependents, within but not limited to Stockton on Tees and surrounding ar88s. who are socially excluded on the grounds of their soci818nd economic position. by.. working with others to provide education 8nd training in the English language and identified employability skills.. 85SlStingrefugees and asylum seekers to become more fully integrated into local communities.. C. the provision of facilities and events lor the local community,. raisingpublic awareness of the issues 8ffecting refugees and asylum seekers.. and working collaboratively with other organisat'ions in providing relevant services. f8cilities and information to refugees and asylum seekers. For the purpose ol this clause 'socially excluded, means being excluded from society. orpart of society, 8S 8 result ol being a member of a socially and economically deprived'community. The trustees have considered Ihe Charity Commission's general guidance on public benefit in connection with the charity's vision, mission and strategic aims. objectives and achievements. Achlevements and performance OUR VISION AND VALUES Our vision is that Stockton. and the surro'unding area is welcoming and inclusive to refugees and people seeking 8sylum so that they feel they belong. are able to maximize their ski118 and abilities and f lourish within the community. Our values are ¢haracterised by key drivers for our mission: being welcoming, diverse and inclusive and enabling integration and belonging. OUR STRATEGY2022-2025 This has been the last year of our first strategic plan which included four aims to slructure and maintain focus in delivery ofourvision. Our approach has been to identify gaps in aclivities and support for refugees and people seeking asylum in our town. and to assess whether it is within our str8tegic aims to commit resource to doing something about this. Our ethos is to work collaboratively and inclusively across our community. wilh the participation of people with lived experience and community-led groups. rather than working in competition with others.
REFUGEE FUTURES LTD (a Company Limited by Guarantee) TRUSTEES, ANNUAL REPORT Strategic aims Providing opportunities for asylum seekers and refugees to be welcomed and included. 2. Enabling and enhancing access to services to develop confidenc"e, skills and abilities; 3. Working with othersto promote narratives that positively encourage a sense of belonging: 4. Becoming a trusled and sustainable organisation workingto high standards. HIGHLIGHTS OFTHE YEAR This yearwe have worked with a wide range of partners to support people seeking asylum and refugees on their journey from arrival to flourishing in Stockton. Through our Welcome programme, we have supported people with orientation, referfals to other services. and workshops about living in the UK. Our Action Asylum and Skillsmatch projects create opportunities for people to take part in volunteering activities, volunteer work placements, and employability support so people can use theirtime and talents to make a contribution and build a sense of belonging. As8 relatively newcharity. we have b88n working hardtoreach more people. Thisyear251 peopleattended Welcome sessions. we supported 39 Skillsmatch placements. and 105 people were involved .in volunteering activities {up from 166, 27 and 79 participants respectively). There have also been significant .developments in our work. Recommendations from our peer-led research collaboration with Durham Unlversity have shaped the direction of our activities, particularly the establishment of the Stockton Service Fair, delivered in partnership with Stockton 8orough Council. In the second half of the year. we embarked on developing our networks with for-profit businesses with view lo crealing new placements with thè business sector, tapping into their expertis8 to deliver employability, 8nd in turn helping businesses to understand and benefit from the pool of talent within refugee communities. Individuals with lived experience are engaged in leading all our aclivilie8 8$ volunteers, sessional workers, core staff, peer researchers or trustees. The Advisory Group has played 8 key role in influencing the direction of our Welcome programme and feeding into our upcoming strategic review. We re¢ognise we are still on a journeyto embed lived experience ofthe asylum and Immigration syslem in our decision-making about our work. We are graleful to Dr Lauren Martin who has led our collaboration with Durham University and the peer-research approach which has strengthened our ability to centre lived experience in how we shape our activities,. leading us to reach for outcomes that move beyond people being benef iciaries of charity to being aclive citizens of Stocklon, and the world I Collaboration is a vital element in supporting people's journeys with us, be it the organisations we refer people lo for specialist advice and guidance, or the 36 partner organisations supporting Action Asylum volunteering 8nd Skillsrnatch placements. Our profile has increased during the year, and we were moved to have won and been nominated by Action Asylum partner. Butterwick Hospice, in the Tee8 Valley DiversityAward5'8est Community Organisation, category. UK government policy and too much print and 80cial media content continues to create a hoslile environment forour communities. The racist violence on our streets last summer was a shocking wake-up allthatwe need to be more prepared in supportingcommunitysafety and connections and understanding between communities. Our communication has increased during the year, including regular social media posts about activities and stories of the contributions and successes of refugees and people seeking asylum and positive experiences of interactions between different people and communities.
REFUGEE FUTURES LTD (a Company Llmlted by Guaranteel TRUSTEES. ANNUAL REPORT Plans for future periods A Board working group was established to steer the planning of the 2026- 2029 Strategic Review. We are graleful to Lloyds Bank Foundation for supporting this work. Key themes and objectives will be: Clarity about what change we seek to make and how we demonstrate thal we are being effective, includingthrough storytelling, peer-led research and introduction of a CRM database. Clarifying the nature and value of collaboration and how to invest time and resources in building and maintaining them and including in the private sector. Our contribution in building and strengtheningcommunity resilience and safety. Continuing on our journey lo embed lived experience of the asylum and immigration system more systematically and holislically in our everyday decision-making about programmes, strategy development and overarching governanc8 Structure. Incfeasing income from a more diverse range of sources including contr8Ct8 andlor trading opportunities. We expect et least 350 peoplewillengage directly in one or more of our activities and an increasingnumber will eng8ge in a journey from welcome to flourishing in Stockton and ready for work. Financlal review Total income for the year amounted to £250,90312024', £174,801) of which £175.54612024'. £90,385) was restricted. Expenditure of £233.54612024: £178,286> was incurred of which É155,125 {2024'. £102,795) was for restricted purposes. At 30 April 2025, the charity had total funds of £65,917 compared with £48.560 in the previous year, of whi¢h £31.81812024: £34,882) were unrestricted. As a relatively new charity. much of our funding has been 8hort-term. but we are moving to a position of being able to access larger, multi-year funding, albeit at a time when many funders are overwhelmed with demand andlor have temporarilyclosed andlor significantly narrowed theircriteria. Support from Stockton Borough Council has been an importgnt first step in delivering on shared goals with an important public sector partner. The trustees are satisfied with the linancial position of the organis8tion 8t 30 Apf il 2025 and are conf ident that the strategies in place will enable the organisation to fulfil its objectives. INVESTMENT POLICY The trustees have power to invest any money not immediately required for the furtherance of the Gharity'3 objects in or upon such investments, securities or property as may be thought fit, subject to such conditions (if any) and such consent (if any) as mayfrom time to time be imposed or required by law. RESERVES POLICY The trustees aim to m8int8in free reserves in unrestricted funds at 8 level equal to approximately three months of unrestricted expenditure. The trustees 'consider that this level will provide suff icient funds to respond to applications for grants and ensure that support and governance costs are covered. Based on current levels ofexpenditure. the trustees estimate a requirementfor minimum reserves of circa £25.000 to cover net operational costs. This level of cash-backed unrestricted reserves has been broadly achieved in this and the previous two years.
REFUGEE FUTURES LTD la Company Limited by Guarantee) TRUSTEES, ANNUAL REPORT Structure, governance and management STRUCTURE The organisation is 8 ch8ritable company. limited byguarantee. governed by its Memorandum and Articles of Association which were revised and approved by the Trustees in December 2024. The charity was registered with the Charity Commission as 'Love Stockton, from 5 December 2014 but the name was changed lo Refugee Futures and new Objects were consented to bythe CharityCommi88ion on 17 January 2023. The key purpose was to align the Objects in our governing document more closely and explicitly to the goals and vision adopted by Trustees in respect of the asylum seeker and refugee community in Stockton and surrounding area. In'the eventolthe company beingwound up. members ar.e required to contribuie an'amount not exceeding £10. On 14 April 2025, the charity became the sole member of Somewhere Else. which is a Charitable Incorporated Organisation (Charity No:'11666211 to ensurethe continuation of an important mental health. service for refugees and people seeking asylum. This arrangement means that the charity has responsibility for the appointment of the trustees of Somewhere Else, and any other matter for which members have responsibility such as amending the constitution, amalgamating ihe CIO with another CIO, or transferring its undertaking to other CIOS, or winding up the CIO. Both charities are Solely accountable to their own board of trustees for iheir operations and retain independent registration and accountability with the Charity Commission. Any transactions between the two charities are carried out at arm's length, and appropriate charges invoiced, GOVERNANCE Appolntment of Trustees New trustees are appointed on the recommendation and approval of existing trusteeslmembers through an open process involving a mix of broad and sometimes more specific criteria and including advertised recruitment processes and interviews with interested individu818 who meet Ihe crileria. The Articles require a minimum of three trustees and no more than 11. Trustees, inductlon and training Newtrustee3 are provided with Ch8rityCommission guidancefor trustees, alongwith finance and process documentation. Articles of Association and minutes of previous trustees, meetings. We are also offering mentoring'lincluding co-mentoringl 8rr8ngements for newtrustees and an introduction to the projects and other activities of the charity. All trustees are informed about and encouraged to attend appropriate internauexternal training events to facilitate the undertaking of their roles and responsibilities. The Board. and the waywe 8ppr08ch governance and risk is evolving. As a new charity, we have continued to spend time Eetting systems in place ihat are fit for purpose. particularly as we grow and embed an equitable, diverse and inclusive Gulture. Trustee resignatlon and thanks We would like to thank Peter Chapman, our toundingchair for his leadership. support and drive in setting up Relugeq Futures. Thank you also to the invaluable service of other trustees who served in our èarly days, in particular founding trustee 8111 Williams,
REFUGEE FUTURES LTD (a Company Llmlted by Guarantee) TRUSTEES, ANNUAL REPORT RISK MANAGEMENT The trustees have developed a risk register and approved a risk management fr8mework to which the charity will work. Both documents are regularly reviewed to ensure the trustees are in 8 position to mitigate any risks arising and it was recently agreed that the register should be a standing item at board meetings. MANAGEMENT The management and administration of the charity is under the control of the trustees who met six times in the past year. Dayto day operational matters are delegated to the Executive Director, Heather Petch. who works closely with the staff team and volunteers and is regularly supported bythe Chair. We have been developing pathways for different types of engagement in the organisation for people with lived experience. Duringthe yearwe have grown the staff team to 5 Ifull-lime equivalent} and recruited and. trained more organisational volunteers and sessionalworkers, mostly people with lived experience. There are now ten organisational volunteers and ten sessional workers who speak 8 languages. Reference and administrative details Charlty Name: Refugee Futures Ltd Charlty Registration Number: 1159508 Company Rogistratlon Numb•r: 08973811 (England 8nd W81esl Directors and Trustees: Mrs U R Hicks {Chaii) Ns Cjones Mr S Pleydell18ppointed 18 June 20241 Mr J Carling {appointed 8 October 2024) Mr B Chisanga (appointed 8 October 20241 Mr A M Quraishi (resigned 29 September 20241 Ms S Mansaray (resigned 19 November 20241 Mr PJ Chapman Iresigned 9 December 20241 Ms C Macdonald (resigned 22 April 20251 Mr W Williams Iresigned 19 August 2025) Exeeutlve Dlrector: Ms H Petch OBE .Regi$tered Offlce: Catalyst House 27 Yarm Road Stockton-on-Tees TS18 3NJ Independent Examlrier: . Mr J Lester FCA Baines Jewitt Limited Chartered Accountants Spitf ire House 19 Falcon Court Preston Farm Industrial Estate Stockton-on-Tees TS18 3TU Bankers: Natwest 106 Linthorpe Road Middlesbrough TS1 2JX
REFUGEE FUTURES LTD (a Company Llmited by Guarantee) TRUSTEES, ANNUAL REPORT This report has been prepared in accordance with the special provisions of Part 15 of the Companies Aet 2006 relating to small companies. Approval This report was 8pproved bythe trusteesldirectors on 25 November 2025 and signed on their behalf by.. Mrs R Hicks Chair of Trustees
INDEPENDENTEXAMINER'S REPORTTO THE TRUSTEES OF REFUGEE FUTURES LTD (a Company Llmited by Guarantee) I report to the charity trustees on my examination of the accounts of the company for the year ended 30 April 2025 which are set out on pages 8 to 16. Responslbllities and Basls of Report As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companles Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the company are noi required to be audited under Part 16 of the 2006 Act and are eligible for in'dependent examination, I report in respect of my examinalion of your company's accounts as carried out under section 145of the Charilies Act 2011 {'the 2011 Act'l. In carrying out my examination I have followed the Directions given by. the Charity Commission under section 14S1511b} of the 2011 Act. Independent Examiner's Slatement I have completed myexamination. I confirm that no matters have come to myattention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,. or the accounls do nol accord with th08e records,. or the accounts do not complywith Ihe gccounting requirements of section 396 ofthe 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered 89 Pert of an independent examination; or the accounts have not been prepared in accordance with the methods and" principles of the Statement ol Recommended Practice for accounling and reporting by charities applicable to harlties preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns 8nd have come across no other matters in connection with the examination to which attenlion should be drawn in this report in order to enable a proper understanding of Ihe accounts to be reached. Mr J Lester FCA Baines Jewltt Llmlted. Chartered Accountants Spitfire House 19 Falcon Court Preston Farm Industrlal Estate STOCKTON ON TEES TS18 3TU Dated: qlivlvovl JLIAIW
REFUGEE FUTURESLTD 18 Company Llmlt•d by Gu¥r•nt•¢l STATEMENT OF FINANCIAL ACTivmES FOA THE YEAR ENDED 30APRIL2025 Ilncludlngsummary Incom• Ind Expéndltura Accountl ilnr••trl¢t•d Fund• 2Q25 2024 R•¥tslct•d Funds 2024 Toi•l Fund 2024 Not•• 2025 2025 IWCQM Gi8nt¥ 4nrJ oon•tlon¥ Inv¢¥tment Income 75.160 20? 82,800 170,648 90.385 250,696 207 173,186 1.616 TOTAL INCOME 7).3S7 04,416 175,548 90.385 250,)3 174,801 CXPENDIWRE 3,497 74,924 3.497 23•.049 75,491 155,12S 102,795 170,286 TOTAL EXPEWDITUAE 78,411 75,491 150,126 102.795 233.541 178,286 N•t In¢om•llExp•ndltUf•llorth•Y••i lJ,Q64 6,925 20.421 17.307 13,4851 R•conclil•th¥notlund•: 7otollunds brou8htfoM•r¢ 13•14 34.882 25.9S7 lJ.871 28,088 41.600 52,045 T•taiFund• Carrlod Forw•rd 13&14 31,Bl• 34.882 34.099 13,678 85,917 48.560 Thtslalvmentol Fln•ncl•l A¢iivlll•8lncluO•tssllqeln•8ndlos816 r8coini8*d Ihth•y•8r. AIIIDGomE4nd 8xpondltui• derlvefromeoniinulDRèCllvltl88. Thtr noi•ts onp•y8 1010 16form p•rt olth•8•fin8nel81818tom•nt8
REFUGEE FUTURES LTO l• Comp•ny Llmlted byGuoiaM••l BALANCE SHEET ASAT 30 APRIL 2025 Unr•itrlci•dFundi R••trl¢t•dFundi 2024 Tot•lFund• 2024 Not•¥ 2025 2024 2025 202S FIXED ASSETS Yan8lblo llssEts 10 3,317 3,317 ¢URRENT ASSETS DBblOla8nd propeym8nt8 e•Jh aibank ond In hand 11 21,71 10.716 21.750 5D.tsIO •,ooo. S6.226 42,548 34.099 13,678 43,548 34.0 13,678 72,ses 57,228 CURHENTLIABILITIES Cr•diior•.' AMountalalllniduevAthlncneor 12 NETCUAAÉNT ASSETS 27,364 31,565 34.099 13.676 81,453 45,243 NET ASSETS 31.811 34.882 34,099 13,878 16,917 4a,s60 FUNDS Unre¥trictedoeneialfund 31,810 34,682 81,818 34,882 13,678 13,678 31.811 34,882 13,678 95,917 48,S80 Th•i•flninrlil ltbi•rnenti havo bo•n piop•r•d In a¢¢oid•De• th ihe P¢Owiions appii¢•bl• to cornp•nio¥ th• ¥fMII ¢omp4ni•' rqwmi. FurthB •nJing 3CIApFN 2025. tho cornpDnyw•i IntLd tOO%•mptionlrom•ydli und•rS•¢tion477 of¢h•CoMp•niA¢1 2fJ)6 ItL•iin8to$wllcvmp•nlu. Thi dlr•BtDrs•rknovA•dgqlhqiT rDJponyiblli11I51DrrumplylnKthTh Iheiv4uiivrnqnti ulth•Artv4ilh reipe¢t toK¢wntln8i•¢vd$an¢ th•pi•p4i•tlgnol•Erounti. The Iln8Thclal JtatementBwqre'llpproved bythq dii•ctoiJltiuste•Jon Z5November2025 •nd &iineo on Ih•ii D•hell by.. Mri R Hlck Chalr of Tru¥l•¥
REFUGEE FUTURES LTD (a Company Limited by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 ACCOUNTING POLICIES General Information and Basis of Preparation Refugee Futures Ltd is a privale company. limited by guarantee, registered in England. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered off ice is given in the charity information on page 5 of these financial statements. The nature of the charity's principal 8¢tivities and objectives are lo advance educalion and social welfaie and for Stockton to be welcoming and inclusive to refugees Bnd those seeking asylum in the area. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Fin8nci81 Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accounting Practice. The f inancial statements are prepared on a going concern basis under the historical cost convention. They are presented in pounds sterling, which is the functional currency of the charity, and rounded to the nearest pound. The signif icant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. b) Income Recognition All in¢ome is racognised once the charity has entitlement to that income. there is sufficient certainty of receipl and it is probable that thé income will be received, and the amount of income can be measured reliably. Gr8ntS 8nd Donations Where donors specify that grants or donations must be used in a future accounting period, the income is deferred until those periods. Where donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the period in which the pre-conditions are met. Wheredonors specifythat granlsordonations arefora particularrestricted purpose. which does not amount to pre-conditions regarding entitlement, .the income is included in incoming reserves within restricted funds when received. Resources Expended Resources expended are recognised in the Statement of Financial Activities on an 8ccruals basis, inclusive of VAT. Individual costs are allocated between the various headings in the Statement of Financial Activities by reference to their underlying nature or the reason for which those costs were incurred, on an estimated percenlage basis.
REFUGEE FUTURES LTD la Company Limited by Guarantee) NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL2025 d) Unrestricted and Restricted Funds Unrestricted funds comprise income received or generated by reference to the general objects of the charity without further specified purpose. Such funds may however be designated by the trustees for specitic purposes from time to time. Restricted funds are those donated for a specified purpose as laid down by the donor or as the result of a Specific appeal or application. Such funds are kept separate trom the unrestricted funds of the charity and only related expenditure is charged againsl them. Tangible Fixed Assets and Depreciation Tangible fixed assets are capitalised and depreciated at 20% per annum on the reducing balance basis so as to write off each asset over its estimated useful life. f) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued 8t the amount prepaid net of any trade di3counts due. g) Cash at Bank and In Hand Cash at bank and cash in hand inclucles cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit .or similar account. h) Creditors and Provisions Creditors and provisions are recognised where the ¢harlty has a present obligation resulting from a past event that will probably result in the transfer of funds to 8 third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions 8re normally rècognised at their settlement amount after allowing for any trade discounts due. Pension Costs Contributions, which are payable into the personal pension plans of individual membérs of staff. are charged to the Statement of Financial Activities in the period to which they relate. J) Going Concern Thefinancial statements have been prepared on a goingconcern basis asthe Irustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 month5 from authorising these financial statements. The budgeted income and expenditure is sufficientwith levels of resep4es forthe charityto be able to continue as a going concern.. LEGAL STATUS OFTHE CHARITY The charity is a company limited by guarantee registered in England and Wales and has no share capital. The liability of each member in the event of winding up is limited to £10. 11
REFUGEE FUTURES LTD (a Company Limited by Guarantee) NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 INCOMEFROM GRANTSAND DONATIONS Unrestricted Funds 2025 2024 Restricted Funds 2025 2024 Tolalfunds 2025 2024 Grants 75,150 82,800 175.546 90,385 250,696 173,185 The charity benefits from the involvement and support of its many volunteers. In accordance with FRS 102 and the Charities SORP IFRS 1021. the economic contribution of generalvolunteers is not iecognised in the accounts. INVESTMENT INCOME Vnreilrl¢t•d Fund8 2025 2024 R••trlcted Funds 2025 2024 Total fund8 2025. 2024 88nk Interest Other Interest 205 .1,616 205 1,616 207 1,616 207 1,616 EXPENDITURE ON CHARITABLE ACTIVITIES Unr••trlctod Fund• 2025 2024 R••trlct•d Funds 2025 2024 Total funds 2025 2024 A¢tlvlty cosis.'Staff costs Non-staff c03t¥ 39,723 23,146 41,184 16,134 131,406 11,810 87.129 15,666 171,129 128,313 34,956 31,800 62,869 57,318 143,218 102,795 206,085 160,113 Support costs.. Finance 8nd administration 6,150 10,922 2,875 9,02S 10.922 Governance Costs: Accountancy and Independent examination .Legal and professSonal fe88 Board expenses Board training and development 4,500 1,405 3,480 185 348 4,500 . 10,439 3,480 185 348 9,034 3,238 3,238 5,905 7.251 9.034 14,939 7,251 Tot81 exp8nditure ' 74.924 75,491 156,125 102,795 230,049 178,286 12
REFUGEE FUTURES LTD la Company Limited by Guarantee) NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 NET INCOMEI(EXPENDITURE) FOR THE YEAR This 18 Stated after charging.. 2025 2024 Independent Ex8miner'$ 8nd other fees.. external scrutiny other costs 1,360 3.140 1.160 2.320 STAFFCOSTSANDNUMBERS 2025 2024 Gross wages and salari¢$ Ernployer's national insurance costs Pension contributions Isee note 81 157,031 8.794 5.304 118,792 . 5,325 4,196 171,129 128,313 No employee received emoluments of more than £60,000. The total remuneration cost for Key Management Personnel during the year was E30,821 {2024: £29.6241. The average lotal headcount and average full-time equiv8lent IFTEI numberof employees duringthe year was 10.7 and 5.36 respeciively12024: 7 and 3.63 respectively). PENSION SCHEME The pension costs of £5,30412024'. É4,1961 représent payments to defined contribution pension schemes operated in the names of individual employees of the charity. At the balance sheel date. there were contributions of £95712024.. £1.9381 outstanding. TAXATION As a registered Gharity. Refugee Futures Ltd is exempt from tax on ils incorrie under Section 505 of the Taxes Act 1988 Provided that such income is applied lor charitable purposes only. 13
REFUGEE FUTURES LTD (a Company Limited by Guarantee) NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 10. TANGIBLE FIXED ASSETS Flxtures & Equlpment Co¥t At beginning of year Additions in year 4.267 1,967 At end of year 6.234 Depreclation At beginning of year Charge foryear 950 820 At end of year 1.770 Net 8ookValue At beginning of year 3,317 At end of year DEBTORS AND PREPAYMENTS 2025 2024 Trade debtors Prep8yments and accrued income Othor dobtors 17,761 850 3,139 1,000 21,750 1,000 12. CREDITORS: Amounls falling due within one year 2025 2024 Accruals and delerred income Tax8tion and social security 5.918 6.065 11,112 11.983 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Current year.. Unrestricted . Funds Restrlcted Funds Total Tangible fixed assets Cash at bankand in hand Other net asset$llliabilitiesl 4,464 16.716 10,638 34.099 50,815 10,638 31,818 34.099 65,917 14
REFUGEE FUTURES LTD (a Company Limited by Guarantee) NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued) Comparatives for prior year: Unresttlcted Funds Restricted Funds Total Tanglble fixed assets Cash at bankand in hand Other net assetsllli8bilitiesl 3,317 42,548 110,983) 3,317 56,226 110,9831 13.678 34,882 13.678 48,560 14. STATEMENTOF FUNDS Current year: A11May 2024 Income Expondltuie At 30 Apiil 2025 Unr•strlct•d fund8 34,882 75,357 78,421 31,818 Aestrlctod funds Welcome Developlng Skills and. Confidence Action Asylum Project Skills Match Promotlng Belonging Sustaingble Or88nlsation Staff Wellbeing 3,070 77.691 73.533 7,128 35.716 15.606 4,374 21,659 20,700 26.240 15.258 11.154 8.684 19.500 756 9,476 (348) 6,780 12,875 1,200 3,420 4.176 13,878 175,546 15S,125 34,099 Tolal funds 48.560 250,903 233,546 65,917 Comparatlvos for.prloryaar: AtIM•y 2023 Incom• Expendhure At 30 Apill 2024 Unre¥trlcted fund8 25.957 84,416 75.491 34,882 Restrictèd funds Welcome Project Aclion Asylum Project Skills Match Running Costs and Executive Director Staff Wellbelng 7.965 1.613 16,510 34,241 15,938 10,206 39.136 17,899 19,936 3,070 13481 6,780 25,000 5.000 25,000 824 4,176 26,088 90,385 102.795 13.678 Toialfunds 52.045 174,801 178.286 48.S60 15
REFUGEE FUTURES LTD (a Company Limited by Guarantee) NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2025 14. STATEMENT OF FUNDS (contlnued) In 2025. the charity is moving towards raising, managing and reporting on restricted funds by straiegic aim. In 2024 and previous years. reporting on festri¢ted funds was by project. Welcome: This strategic aim is to provlde opportunities for asylum seekers and relugees to be welcomed and included. As for the Welcome Project in 2024, it is funded by The National Lottery las part of the Tees Valley-wide Ariadne Project and Awards for All) and Stockton Borough Council. The funds are used to support a welcome and orientation service for all people seeking asylum who are placed by the Home Office in Stockton. as well as refugees who have come through UK Government funded resettlement schemes. Stockton Borough Council is a key partner. including in the delivery of quarterly service fairs providing an opportunity for refugees and people seeking asylum to get advice and support from a range of Service providers under one root. Developlng Skllls and Confldence.. This strategic aim islo enable and enhance access to services to develop confidence, skills and abilities. It is funded by the Task Force Trust. The National Lottery (Awards for All), the Greggs Foundation Ispecificslly to develop the work in the private sector). and Fairer Stockton {funded by The National Lottery Community Fund through Catalyst). The Actlon Asylum Projectengaged asylum seekers in volunteeringevents. togetherwiih other local residents. The Sklll8 Match Project provided opportunities for workplace-based volunleering opportunities. Promoting Belonging: This strategic aim is to work with others to promote narratives that positively encourage a sense of belonging. To explorethis aim research has been funded by Durham University with 8W8rd8 from the Economic and Social Research Council IESRCI and Research England {UKRI}. The funds have been used to train up and support peer researchers to conduct research into the asylum and refugee sector in Stockton-on_Tees and to develop our commitment to deepen and embed lived-experience leadership. exploring how people with lived experience c8n participate in decision making and shaping Refugee Futures, work as well 88 to support development of the lived experience advisory group. Stories have been posted on social media on a weekly basis about the contributions refugees and people seeking asylum make in Stockton. Sustalnable Organlsatlon: This strategic aim is to ensure Refugee Futures develops as 8 trusted and sustainable organisation working to high standards. It has been funded by The Charity of Sir Richard Whittington, The Mercers Company and The Stockton Fund. The funds have been used to support running costs and, in particular, the executive director. leadership through the charity's f irst three-yeai strategy to support refugee integration into Stoekton (Running Costs and Exacutlve Director). activities deemed helpful for staff wellbeing (Staff Wellbelngl, and legal cost5 relating to the updating of Articles for Refugee Futures and Refugee Futures becoming the sole member of Somewhere Else. 15. TRANSACTIONS WITH TRUSTEES AND CONNECTED PERSONS In 2025, no remuneration or expenses were paid to any trustee or any person connected to them {2024: nill. 16