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2025-12-31-accounts

THE HUNGER PROJECT UK

TRUSTEES’ REPORT AND ACCOUNTS 31 December 2025

Company number: 09583057 Charity number: 1164839

CONTENTS
Page
REFERENCE AND ADMINISTRATIVE INFORMATION 1
WELCOME NOTE FROM THE CHAIR 2 - 3
TRUSTEES’ ANNUAL REPORT 4 - 13
INDEPENDENT AUDITOR’S REPORT 14 - 18
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNT) 19
BALANCE SHEET 20
NOTES TO THE ACCOUNTS 21 - 30

REFERENCE AND ADMINISTRATIVE INFORMATION

REGISTERED CHARITY NUMBER

1164839

COMPANY NUMBER

09583057

GOVERNING DOCUMENT

Memorandum and Articles of Association, as amended by Special Resolutions on 26 July 2021 and 30 June 2022.

TRUSTEES

Joanna Elliott (Chair) also known as Dr Joanna Martin Monique Surridge Robert Fernandez Paul Harbard MBE Frances George (appointed 5 May 2025) Jodi Lea (appointed 5 December 2025) Mandakini Lakhani (resigned 14 August 2025)

COMPANY SECRETARY

Jodi Lea (appointed 29 September 2025) Elspeth Cox MVO (resigned 29 September 2025)

REGISTERED/PRINCIPAL OFFICE

7 Bell Yard London WC2A 2JR

AUDITORS

Hazlewoods LLP Staverton Court Cheltenham GL51 0UX

BANKERS

NatWest Bank plc Coop Bank 250 Bishopsgate PO Box 250 London Delf House EC2M 4AA Skelmersdale WN8 6WT

-1-

WELCOME NOTE FROM THE CHAIR

2025 was a year that asked a great deal of the world. Wars deepened and lengthened. Political division sharpened in country after country. The rollback of overseas aid from the United States sent shockwaves through the entire world and the international development sector. Here in the UK, charities of every size are feeling the squeeze of a tougher fundraising climate. For many, it was a year of holding on.

At The Hunger Project, this is precisely the moment that our work matters most.

We have always held a simple, unshakeable conviction: that people living in conditions of hunger are not a “problem to be solved”. Rather these people hold the keys to their own futures. When the world contracts, when empathy feels harder to come by, when the instinct is to pull inward, we believe the opposite must be true of this movement. We are leaning further in. We are deepening our partnerships. We trust more, not less, in the capability, dignity and potential for leadership of the communities we work alongside.

Because the climate challenge being felt here in the UK, real as it is, is matched and even multiplied in communities in resource-poor settings. It is those same communities, their women, their farmers, their leaders, who are rising to meet it. They are restoring forests. Growing resilient crops in harder seasons. Gathering and sharing indigenous, drought resistant seeds. Organising their villages through new ways to come together. The stakes are extraordinary. And so is the leadership. In a year that has tested so much, that leadership is the story we choose to tell.

As we reflect on 2025, we are struck by the resilience and determination we have witnessed across the communities we partner with. With your support, our work reached nearly 13 million people this year, and there are now over 1.4 million people living a self-reliant, hunger-free life. Every person reached is a step closer, and we remain clear-eyed about the road ahead. The progress is real. So is the work still to do.

In Ethiopia, our work in the Gewocha Forest, a multi-year initiative supported by Jersey Overseas Aid, continued to restore 10,000 hectares of land. This is not only an environmental achievement. It is a story of livelihoods revived, hunger prevented, ecosystem restoration, and communities equipped to steward their land for future generations. It is a living example of how climate action and food security are, and always have been, the same conversation.

You will also read in the pages that follow about how, in 2025, we deepened engagement across our UK community through focused fundraising campaigns, thoughtful events, and a committed investor network who continue to stand with us. Our matched-fund campaigns this year supported climate-resilient livelihoods in Africa, tackled maternal malnutrition, and invested in the education and leadership of adolescent girls across India and Bangladesh.

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WELCOME NOTE FROM THE CHAIR

We are especially proud of the Unleashed Women community, which in 2025 continued to evolve into an ever more connected and engaged network of changemakers here in the UK. Through their regular giving and active participation, they are helping to drive our mission forward. They are using their voices and their networks to expand our impact, and to invite others to stand with the women leading change worldwide.

This year also marks an important new chapter in our UK leadership. In July, Manda Lakhani stepped down from the Board, where she had served as Co-Chair for four years, to take on the role of interim CEO (pro-bono) at a pivotal moment for the Charity. Through the months that followed, Manda's deep knowledge of our mission, her vision for our future, and her sustained commitment to our partner communities proved invaluable. In October, following a thorough recruitment process, Manda was formally appointed as CEO of The Hunger Project UK. We are delighted to have her leading the team, and confident that under her guidance our UK presence will continue to build in strength and scale, deepening our partnerships and accelerating progress toward our shared mission.

A closing thought. It would be easy, in a year like this one, to be pulled toward fear… toward the language of crisis and scarcity. That has never been our perspective at The Hunger Project, and it will not be now. What transforms systems is partnership. What moves the world is shared humanity. What ends hunger is the steady, collective belief, held together across continents, that it can be ended, and that it is ending, one community at a time. Those of us standing in partnership here in the UK have never had a more important invitation to keep going.

This work is only possible because of you: our partners, investors and supporters. Thank you for standing with us, especially this year. Together, we are proving that change is possible. Let us continue to be the generation that ends hunger for good.

Warmly,

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25/5/2026
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Dr Joanna Martin Chair, UK Board of Trustees The Hunger Project UK

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT)

The Hunger Project UK is a registered Charity in England & Wales 1164839, a company limited by guarantee registered in England & Wales 09583057 and is governed by its Memorandum and Articles of Association. The activities of The Hunger Project UK are specifically restricted to advancing the following charitable objectives:

  1. To advance the education of the public in subjects relevant to world hunger and starvation.

  2. To promote and assist in the provision of educational research which is likely to be of assistance in relieving poverty and hunger in any part of the world.

  3. To assist in the eradication of world hunger and starvation by providing, or assist in providing, financial and practical support for the people in any part of the world who are in need and who are hungry.

The Trustees confirm that they have complied with their duty under the Charities Act 2011, to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the Charity.

The Hunger Project UK is a partner country of The Hunger Project; a global NGO headquartered in New York. Our mission is to support a worldwide movement for the end of hunger in coordination with all The Hunger Project chapters across the globe. We are based in London, a world centre for international development. The organisation’s major activities are fundraising for The Hunger Project’s programmes through activities, food challenges, leadership events, partnerships, education and advocacy in the UK, of our empowerment-led approach.

The Trustees use the going concern basis of accounting in the preparation of the accounts. The Board agreed in 2022 that the minimum cash reserve maintained will be £60,000. At the time this was based on a scenario where if all donations and fundraising ceases, The Hunger Project UK will have sufficient cash reserves to continue paying its obligations for at least 6 months and the Trustees are satisfied that this continues to be the case.

ensure the delivery of our services and to enable, where required, investment into our operations to deepen our impact. The Board of Trustees reviews the reserves throughout the year to ensure that there are sufficient funds to maintain the Charity’s financial stability and ongoing development. Our policy is for free reserves to be maintained within a range of three to six months’ expenditure.

At end of 2025 the unrestricted reserves stood at £139,950 (2024 - £126,801). Restricted reserves – were in surplus at the year-end of £14,511 (2024 deficit of £96). Since this was all represented by cash the Trustees are of the opinion that the financial position is healthy.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

Recruitment and Appointment of Management Board

The Trustees, who are also Directors under company law, are appointed to the Board by existing Trustees, subject to there being no fewer than four Trustees at any one time. The Trustees all give their time to the Charity on a voluntary basis and receive no remuneration. Out-of-pocket expenses may be reimbursed.

The chair will normally lead on Trustee recruitment, although may delegate this to another Trustee(s) if appropriate. In the case of chair recruitment, the Board will agree who will lead on this.

The Board will always consider the best methods of attracting a diverse range of candidates with the skills the Charity needs. The Hunger Project UK recognises that Trustees are professionals and will aim to recruit at the highest level of expertise. Recruitment will, save in exceptional circumstances, follow a formal recruitment process.

The Board will always consider how best to reach out to a wide range of communities and potential candidates. The Hunger Project UK recognises and embraces the benefits of having a diverse Board, to include and make good use of differences in the background, experience and perspectives between Trustees. These factors will be considered in determining the optimum composition of the Board and when possible, should be balanced appropriately. All Board appointments are made on merit, in the context of the skills, experience, independence and knowledge, which the Board requires to be effective.

Short-listing of candidates and interviews will take place against pre-agreed criteria. Interviews will be carried out by all Trustees. The country director will be involved in the process, but the final decision will remain for the Board. The Board has adopted a policy of appointing Trustees for terms of three years, although the Board has discretion to shorten this where this is felt to be appropriate. Terms may normally be renewable up to twice (i.e. a maximum of nine years in total), although the Board reserves the right to appoint a Trustee for a fourth term (i.e. up to 12 years) in exceptional circumstances where this is felt to be in the best interests of the Charity.

The chair and country director should arrange a thorough induction programme for new Trustees, which should ideally be completed within six months of appointment. The induction programme will vary depending on the background and experience of the individual Trustee, but the core programme will cover overview of The Hunger Project Global and The Hunger Project UK, including meetings with the country director, other staff and Trustees as relevant, briefing on governance issues and Trustee duties from the company secretary (if appointed, otherwise the chair or country director), and meetings with any other relevant staff or volunteers.

New Trustees will be provided with induction material and Charity Commission guidance.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

They are also sent links to relevant Charity Commission guidance, including (but not limited to):

Frances George and Jodi Lea were recruited as Trustees in May 2025 and December 2025, respectively.

Main Activities

In partnership with millions of people around the world, we at The Hunger Project have worked towards an end to hunger since 1977 - a mission that’s more important than ever.

We believe with communities leading, we can collectively address the root causes of hunger. Poverty, gender inequality, conflict and climate change are the global challenges we must face. We envision a thriving planet where everyone has enough to eat, regardless of where they were born, or their gender

Our vision is a world without hunger.

Our mission is to facilitate individual and collective action to transform the systems of inequity that create hunger and cause it to persist.

We fulfil our mission by pioneering sustainable, grassroots, women-centred strategies and advocating for their widespread adoption worldwide. Adapted to meet local challenges and opportunities wherever we work, all our programmes have at their foundation three essential pillars:

We comprise of 13 programme countries across rural Africa, South Asia and Latin America: Benin, Bangladesh, Burkina Faso, Ethiopia, Ghana, India, Malawi, Mexico, Mozambique, Peru, Senegal, Uganda, and Zambia.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

We are supported by 9 partner countries; the UK, Australia, Canada, Germany, the Netherlands, New Zealand, Sweden, Switzerland, and the United States.

Since 2008, over 2.2 million people have participated in our Vision, Commitment, and Action workshops, igniting transformative leadership at the grassroots level. Nearly 600,000 women have completed leadership training and are now using their voices to advocate for their communities.

overcoming hunger and poverty. In 2024, 88% of our global staff are based in programme countries, working alongside over 500,000 local volunteers to drive sustainable change.

Our Global Impact in 2025

To create a world without hunger, we must transform the systems of inequity that cause it to persist. Climate change, gender inequity, and the cycle of malnutrition are all major drivers of hunger in our world. This year, our work across these three sectors deepened, amplifying our impact in rural communities around the world.

In 2025, THP globally reached nearly 13 million people across more than 7,533 communities.

Impact Highlights:

Regional Highlights:

Africa: In nine African countries, our Epicentre Strategy mobilises clusters of rural villages, each serving around 15,000 people, to implement community-led, integrated strategies that meet basic needs. In 2025, women and men in 90 active and self-reliant epicentres ran their own development programmes, which reached over 1.4 million people in their communities.

India: Across six States, we partnered with elected women leaders in 3,707 panchayats (rural village councils), supporting community-led development that reached over 4.2 million people.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

Bangladesh: Working with 1,156 SDG Unions (village councils), we mobilised local volunteers and youth to implement grassroots strategies aligned with the Sustainable Development Goals, reaching over 1.7 million people.

Mexico & Peru: In Mexico, we reached 3.7 million people, focusing on maternal and child nutrition, entrepreneurship, local food systems, and digital access. In Peru, our work reached over 2,343 people, advancing food security, indigenous women’s empowerment, cultural identity, and advocacy.

Our UK Impact

The Hunger Project UK exists to:

  1. Fundraise to support our life-changing programmatic work.

  2. Amplify the voices of those living in hunger.

  3. Campaign to secure the sustainable end of world hunger.

Key 2025 Activities:

1. Forest Restoration Project in the Gewocha Forest, Ethiopia.

Despite ongoing security challenges, the Gewocha Forest Project made major progress in restoring degraded land and supporting local livelihoods. Supported by a consortium of investors, including WeForest and Jersey Overseas Aid (JOA), the project empowers communities, particularly women, through environmental sustainability, social wellbeing, and income generation.

Achievements In 2025:

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

2. Unlocking Matched Funding Through The Big Give.

In 2025, we successfully ran three matched fundraising campaigns, collectively raising over £47,500. By leveraging The Big Give's matched funding, we were able to double the donations from our generous supporters during the campaign periods. This approach provided us with a unique and powerful opportunity to significantly increase the funds raised, ensuring that we could continue to support our vital programmes.

These campaigns supported the following initiatives:

Each of these campaigns helped to broaden the reach of our global movement, engaging new audiences and inspiring them to act in solidarity with women who are driving change. Through these efforts, we raised the profile of The Hunger Project, giving us the opportunity to engage with more supporters and deepen our ongoing relationships with them.

3. Strengthening our Unleashed Women Community

In 2025, Unleashed Women continued to thrive as a dynamic supporter network and took significant strides toward becoming an even more connected and engaged community. This remarkable group of UK-based changemakers remains steadfast in its commitment and determination to combat hunger. Their regular contributions play a crucial role in sustaining our global programmes, while their advocacy efforts extend far beyond financial support.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

This year marked a turning point, with a clear focus on fostering deeper connections and facilitating shared learning. We introduced a variety of regular opportunities for Unleashed Women to come together, including virtual forums, in-person events, and digital community networking. These spaces allowed members to exchange ideas, hear firsthand from programme leaders, and strengthen their collective impact. Through these initiatives, members were empowered to amplify our mission and campaigns within their own networks, helping us reach new audiences and inviting more women to join this inspiring community.

Looking to the future, we are eager to build on the momentum we have generated, continuing to strengthen this vibrant network. We are committed to welcoming even more women who are ready to channel their passion, resources, voices, and leadership into creating a world free from hunger.

Charitable Objectives Alignment

Thanks to the generosity of our investors, in 2025 we contributed £50,000 to our programme countries (£50,000 in 2024).

Looking to the Future

With Manda Lakhani now in post as CEO, The Hunger Project UK enters 2026 with clarity, momentum and a strong sense of where we are heading.

Our focus for the year ahead is twofold. First, we are growing the Unleashed Women movement into the heartbeat of our UK community — a network of women who are not only investing financially, but bringing their voices, their networks and their leadership to the work of ending hunger. The movement has grown steadily through 2025, and in 2026 we will be inviting it to grow further: more women, more visibility, more shared purpose. We believe deeply that when women here stand alongside the women leading change in our partner countries, something powerful happens on both sides of the partnership.

Second, we are building a more resilient and diversified income base. The fundraising climate is unquestionably tougher than it was even two years ago, and the answer is not to retreat from ambition, but to broaden the foundations under it. That means deepening our investor relationships, strengthening our matched-fund campaigns, and exploring new partnerships with corporates and foundations whose values align with ours. It means being thoughtful about how we steward the trust placed in us, and bold about the conversations we are willing to have.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

Underpinning both of these is something simpler and more enduring: our commitment to the people and communities at the centre of our mission. Everything we build in the UK exists in service of the women, men and young people leading change in our partner countries. That is the work. That is the only work.

committed. Our investors and supporters continue to stand with us in ways that humble and energise us. Together, we are stepping into 2026 with the conviction that this is exactly the moment for The Hunger Project UK to lean further in — to grow our community, strengthen our foundations, and continue, alongside our global movement, the work of ending hunger for good.

We are ready. We are grateful. And we invite you to keep walking with us.

Risk Management

One risk to The Hunger Project UK is that a major project is funded by a government grant, so there is an exposure to risk in the unlikely event that this funding reduces (there is a five-year grant agreement in place). The Board monitors and evaluates this and other risks by holding regular Board meetings. Budgets are prepared and updated to predict possible losses and to identify opportunities for diversifying and growing the income base. The Treasurer regularly reviews progress with the team, and the Trustees also receive monthly financial reports.

Principal Funding Sources

The Hunger Project UK is funded by income that mostly derives from individuals and government funding, with some income from corporate donations and trusts. The Hunger Project UK aims to manage risk by maintaining a diverse portfolio of income covering trusts, foundations, companies and individual giving. The Hunger Project UK aims to build our income in the coming years and the strategy for this is to continue to work with our existing income streams including increasing our individual donor base through digital fundraising, growing our Unleashed Women community and increasing our work with trusts, foundations and companies. The Hunger Project UK is signed up to the Fundraising Regulator and committed to excellent fundraising practice.

parties to raise funds on our behalf. We are mindful that no fundraising should be unreasonably persistent or apply undue pressure on anyone or intrude on anyone’s privacy.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

Volunteers

The Hunger Project UK works with volunteers to advance our work in campaigning against world hunger and raising awareness and funds about the need for our work and the programmes that we deliver. They make a vital contribution towards the Charity’s aims and objectives and help to enhance the range and quality of services provided by the Charity by giving their time, skills, knowledge or experience.

The Hunger Project UK is committed to best practice in the recruitment, support and management of volunteers and we aim to ensure that volunteers are properly integrated into the organisational structure; able to work positively and productively and contribute to the best of their ability.

We follow a volunteer onboarding checklist to ensure that volunteers are prepared for and equipped to gain meaningful experience that they will find valuable when seeking opportunities for paid employment in the future.

Each volunteer information about our work and policies and will support and direct the work of the volunteer during their time with us. Volunteers are thoroughly briefed about the activities to be undertaken and given all the necessary information to enable them to perform with confidence.

Auditors

Statement of Disclosure to Auditor

Accounting and Reporting Responsibilities

The Trustees are responsible for preparing the Directors’ Report and the accounts in accordance with applicable law and regulations.

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TRUSTEES’ REPORT (INCLUDING DIRECTORS’ REPORT) (continued)

Company law requires the Trustees to prepare accounts for each financial year. Under that law the Trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Standards and applicable law). Under company law the Trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these accounts, the Trustees are required to:

and explain the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of accounts and other information included in annual reports may differ from legislation in other jurisdictions.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

For and on behalf of the Board of Trustees

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25/5/2026

…………………………. Dr Joanna Martin Chair of the UK Board of Trustees

-13-

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HUNGER PROJECT UK

Opinion

We have audited the accounts of The Hunger Project UK (the ‘Charitable company’) for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities SORP (FRS102).

In our opinion the accounts:

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Accounts section of our report. We are independent of the Charitable company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the accounts, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the accounts is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable company’s ability to continue as a going concern for a period of at least twelve months from when the original accounts were authorised for issue.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HUNGER PROJECT UK (continued)

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The Trustees are responsible for the other information. The other information comprises the information included in the Reference and Administrative details, Welcome Note from the Chair and the Trustees’ Report, other than the accounts and our auditor’s report thereon.

Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included in the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HUNGER PROJECT UK (continued)

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement (on pages 12 & 13), the Trustees (who are also the directors of the Charitable company for the purposes of company law) are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the Trustees are responsible for assessing the Charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s Responsibilities for the Audit of the Accounts

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Extent to which the audit was capable of detecƟng irregulariƟes, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HUNGER PROJECT UK (continued)

We considered the nature of the Charitable company’s industry and its control environment and reviewed the Charitable company’s documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in and identified the key laws and regulations that had a direct effect on the determination of material amounts and disclosures in the accounts, including the UK Companies Act, UK Charities Act and Charity SORP and tax legislation, and those that do not have a direct effect on the accounts but compliance with which may be fundamental to the Charitable company’s ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the accounts.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgments made in accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

Our audit procedures were designed to respond to risks of material misstatement in the accounts, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the accounts, the less likely we are to become aware of it.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE HUNGER PROJECT UK (continued)

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use Of Our Report

This report is made solely to the Charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable company and the Charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

………………………. Felicity Sang FCA (Senior Statutory Auditor) For and on behalf of: Hazlewoods LLP, Chartered Accountants and Statutory Auditors Staverton Court Cheltenham GL51 0UX

26/5/2026

Date………………………………………

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STATEMENT OF FINANCIAL ACTIVITIES (including summary income and expenditure account)

For the year ended 31 December 2025

Note
INCOME AND
ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
3
Investments
TOTAL INCOME
EXPENDITURE ON
Raising funds
4
Charitable activities
4
TOTAL EXPENDITURE
NET MOVEMENTS IN FUNDS
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
116,297
47,075
1,978
165,350
1,607
150,594
152,201
13,149
126,801
139,950		 Restricted
Funds
£
154,932
-
-
154,932
-
140,325
140,325
14,607
(96)
14,511		 Total
2025
£
271,229
47,075
1,978
320,282
1,607
290,919
292,526
27,756
126,705
154,461		 Total
2024
£
123,448
41,264
1,324
166,036
43,829
282,512
326,341
(160,305)
287,010
126,705

The Statement of Financial Activities includes all gains and losses in the year therefore a statement of recognised gains and losses has not been prepared.

All income and expenditure is derived from continuing activities.

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The Hunger Project UK

Charity no. 1164839

Company no. 09583057

BALANCE SHEET

31 December 2025

Note
CURRENT ASSETS
Debtors
8
Cash at bank
LIABILITIES
Creditors – due within one year
9
NET CURRENT ASSETS
NET ASSETS EMPLOYED
REPRESENTED BY:
FUNDS
Restricted
10
Unrestricted
10
TOTAL FUNDS CARRIED FORWARD		 2025
£
4,972
167,835
172,807
(18,346)
154,461
154,461
14,511
139,950
154,461		 2024
£
2,119
131,258
133,377
(6,672)
126,705
126,705
(96)
126,801
126,705

These accounts have been prepared in accordance with the special provisions applicable to small companies subject to the small companies’ regime in accordance with FRS 102 SORP.

………………………….

Paul Harbard

22/5/2026

………………………….

Date

-20-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

1 GENERAL INFORMATION

The Charity is a private company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation.

7 Bell Yard

London

WC2A 2JR

2 ACCOUNTING POLICIES

Statement of compliance

The accounts 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

Basis of preparation

The presentational currency of the accounts is Pound Sterling, being the functional currency of the primary economic environment in which the Charity operates. Monetary amounts in these accounts are rounded to the nearest Pound.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Going concern

The Trustees have considered the future of the Charity and its ability to continue and consider that there is no material uncertainty about the Charity’s ability to continue.

-21-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

2 ACCOUNTING POLICIES (continued)

Format of accounts

The Company is a registered Charity and is not, therefore, a profit-making organisation. In the opinion of the Trustees, references required by the Companies Act 2006 to profits are misleading in the context of the Charitable Company’s activities and have therefore been substituted by the term surplus where appropriate.

The Charitable Company has no costs which are directly attributable to sales and is therefore unable to adopt any of the Statement of Financial Activities formats prescribed by the Companies Act 2006.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Charitable Company’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

No judgements or key sources of estimation have been identified by management in preparing these accounts.

Incoming resources

Donations, giȅs and legacies represent amounts received during the year, together with any associated tax refund. Giȅs in kind for use by the Charity are recognised as incoming resources when receivable at a reasonable estimate of their value. Assets given for distribution are only recognised when distributed.

Grants receivable for specific purposes are credited to the Statement of Financial Activities in the year to which they relate as soon as conditions for receipt have been met. Unspent balances are carried forward to subsequent years within restricted funds.

-22-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

2 ACCOUNTING POLICIES (continued)

Incoming resources (continued)

Grants for immediate financial support or received against costs previously incurred are recognised immediately in the Statement of Financial Activities. Voluntary income is shown gross before deduction of fund-raising expenditure.

Resources expended

All expenditure is accounted for under the accruals concept. The irrecoverable element of Value Added Tax is included within the item of expense to which it relates.

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the Charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. staff costs by the time spent and other costs by their usage.

Expenditure on charitable activities includes governance, administration, support to The Hunger Project’s field offices, management of grants and reporting, promoting awareness of international development, or promoting The Hunger Project’s strategies to the UK community and campaigns.

Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount aȅer any trade discounts or amount advanced by the Charity. Subsequently, they are measured at the cash or other consideration expected to be received. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charitable Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than one month from the date of acquisition and that are readily convertible to know amounts of cash with insignificant risk of change in value.

-23-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

2 ACCOUNTING POLICIES (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months aȅer the reporting date. If there is an unconditional right to defer settlement for at least twelve months aȅer the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Grants payable

Grant expenditure is recognised only when the grants become payable. Grants approved for payment in future years are disclosed as commitments but not recorded as expenditure until they become due for payment.

Funds

General unrestricted funds comprise accumulated surpluses and deficits on general activities. They are available for use at the discretion of the Trustees in furtherance of the Charity’s objectives. Restricted funds are funds subject to specific conditions imposed by the donor(s).

Pensions

Contributions payable on behalf of employees to the defined contribution pension scheme are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

Financial instruments

The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

-24-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

3 INCOMING RESOURCES

2025
DonaƟons and legacies
General donations
Giȅ Aid recoverable
Corporate donations
Events
Grants received
JOA funding
2024
DonaƟons and legacies
General donations
Giȅ Aid recoverable
Corporate donations
Events
Grants received
JOA funding
Charitable acƟviƟes
Unleashed Women		 Unrestricted
funds
£
85,260
25,365
4,596
1,076
-
-

Restricted
funds
Total
£
£
-
85,260
-
25,365
-
4,596
-
1,076
-
-
154,932
154,932
154,932
271,229


Restricted
funds
Total
£
£
-
97,272
-
16,389
-
3,333
-
4,033
2,300
2,421
-
-
2,300
123,448
Restricted
funds
Total
2025
Total 2024
£
£
£
-
47,075
41,264
-
47,075
41,264

Restricted
funds
Total
£
£
-
85,260
-
25,365
-
4,596
-
1,076
-
-
154,932
154,932
154,932
271,229


Restricted
funds
Total
£
£
-
97,272
-
16,389
-
3,333
-
4,033
2,300
2,421
-
-
2,300
123,448
Restricted
funds
Total
2025
Total 2024
£
£
£
-
47,075
41,264
-
47,075
41,264
116,297
Unrestricted
funds
£
97,272
16,389
3,333
4,033
121
-
121,148
Unrestricted
funds
£
47,075
47,075
41,264

In 2024, all charitable activities income related to unrestricted funds.

-25-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

4 EXPENDITURE

Note
Unrestricted
funds
£
Costs of raising funds
Salaries, temporary staf
and consultants
6
-
Costs of events and
challenges
1,607
Support costs
5
-
1,607
2024 Cost of raising funds
43,829
Note
Unrestricted
funds
Expenditure on charitable
acƟviƟes
Salaries, temporary staf
and consultants
6
68,905
Programme funding
50,000
Support costs
5
31,689
150,594
2024 Charitable activities
163,141		 Restricted
funds
£
-
-
-
-
-
Restricted
funds
-
137,099
3,226
140,325
119,371		 Total
2025
£
-
1,607
-
1,607
43,829
Total
2025
68,905
187,099
34,915
290,919
282,512		 Total
2024
£
34,044
-
9,785
43,829
Total
2024
89,667
160,725
32,120
282,512

Support costs and salaries have been allocated between fundraising costs and charitable activities based on time spent on those respective activities.

-26-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

5 SUPPORT COSTS

Rent of ofice
Insurance
Bank charges and interest
IT and website costs
Advertising and marketing
Printing, postage and stationery
Telephone and internet
HR
Audit fees*
Accountancy fees
Professional fees
Bookkeeping fees and payroll costs
Subscriptions
Travel and accommodation costs
Sundry costs		 Unrestricted
funds
£
1,143
309
203
1,803
1,435
163
-
1,241
2,354
2,171
1,869
7,594
8,151
2,244
1,009
31,689		 Restricted
funds
£
-
-
-
-
-
-
-
-
3,226
-
-
-
-
-
-
3,226		 Total
2025
£
1,143
309
203
1,803
1,435
163
-
1,241
5,580
2,171
1,869
7,594
8,151
2,244
1,009
34,915		 Total
2024
£
2,238
309
2,430
2,918
6,174
314
-
329
5,580
516
1,252
7,560
10,349
1,941
(5)
41,905

In 2024, £6,346 of support costs related to restricted funds. The remaining £35,559 related to unrestricted funds.

6 STAFF COSTS

STAFF COSTS
Gross salaries
Employer’s NI net of Employment Allowance
Employer’s pension contributions
Freelancers and consultants		 2025
£
49,198
1,720
808
51,726
17,179
68,905		 2024
£
114,361
6,827
2,460
123,648
63
123,711

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000. During the year, the Charity employed 2 people (2024: 3). Staff costs have been allocated between fundraising costs and charitable activities based on time spent on those respective activities.

-27-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

7 TRUSTEES’ REMUNERATION AND EXPENSES

During the year none of the Trustees have been paid any remuneration or received any other benefits from an employment with the Charity or a related entity.

During the year reimbursements totalling £nil (2024: £nil) were paid to the Trustees for outof-pocket expenses.

8 DEBTORS

2025 2024
£ £
Prepayments and accrued income 4,972 2,119

9 CREDITORS – due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2025
£
1,186
6,000
11,160
18,346		 2024

£
1,092
-
5,580
6,672

10 STATEMENT OF MOVEMENTS ON FUNDS

2025
Funds brought forward
Net outgoing resources for the year
Funds carried forward		 Unrestricted
funds
£
126,801
13,149
139,950		 Restricted
funds
£
(96)
14,607
14,511		 Total
2025
£
126,705
27,756
154,461

-28-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

10 STATEMENT OF MOVEMENTS ON FUNDS (continued)

Movement on restricted funds 2025 were as follows:

JOA Ethiopia funding Restricted
brought
forward
£
(96)		 Income
£
154,932
154,932		 Expenditure
£
(140,325)
(140,325)		 Transfer
-
-		 Restricted
carried
forward
£
14,511
(96) 14,511

Description of funds

JOA Ethiopia funding – this was a donation made to The Hunger Project UK by Jersey Overseas Aid, specifically towards work done in Ethiopia.

2024
Funds brought forward
Net incoming resources for the
year
Funds carried forward		 Unrestricted
funds
£
170,035
(43,234)
126,801		 Restricted
funds
£
116,975
(117,071)
(96)		 Total
2024
£
287,010
(160,305)
126,705

-29-

NOTES TO THE ACCOUNTS

For the year ended 31 December 2025

10 STATEMENT OF MOVEMENTS ON FUNDS (continued)

Movement on restricted funds 2024 were as follows:

JOA Ethiopia funding
Grant received from
University of
Southampton
Funds carried forward		 Restricted
brought
forward
£
116,975
-		 Income
£
-
2,300

2,300		 Expenditure
£
(117,071)
(2,300)

(119,371)		 Transfer
-
-

-		 Restricted
carried
forward
£
(96)
-
116,975
(96)

Description of funds

JOA Ethiopia funding – this was a donation made to The Hunger Project UK by Jersey Overseas Aid, specifically towards their work done in Ethiopia.

Grant received from the University of Southampton - to employ students from the university as interns.

11 RELATED PARTY TRANSACTIONS

The Charity received donations from Trustees of £13,991 during the year to 31 December 2025 (2024 - £8,109).

The Charity received a donation from One of Many Limited, a company owned and managed by J Elliott (a Trustee), of £6,240 during the year to 31 December 2025 (2024 - £6,000).

-30-