Charlty i'e8lStration numbei.: 1166646 Breadwinners FoundatRon Annual Reports and Financlal Statements ForThe Year Ended 31 March 2025 Breadwinners Foujidation Contents Page No: Reference and Administrative Details Trustees, Report Independent Examiner's Report Statsment of financial activities B21ance Sheet Notes to the financial statements 9-13 Breadwinners Foundation Pa9e l. Refei-ence and Administi'ative Details Statt)s Breadwinners Foundation is a registered charitable orgallisation incorporated on 20 April 2016. Governing Document CIO Foundation model, the company was established under Charities Act 2011. Charity registration number 1166646 Board of Trustees John Lister Noreen O'Prey Beneta Yelda Anneka De Silva Harry George Marika Wilkinson Istarted Sep 2025) Charlie Rainer [started Sep 2025) Tim Stoller [ended Sep 20251 Kate Sanger Tracey Hgmer Principal Address 3 Space International House Canterbury Cre5 London SW9 7QE Independent Examiner Carbon Accountancy Limited Chartered Accountants and Registered Auditors 80-83 Long Lane London ECIA 9ET Tru5tep.s'Reporl forth erlod*ndÈa31 March ZQZ5 TrUsIE¥'RÈportfor UièpÈriodÈhdÈd 31 Marcb2025 ARevleWof¢iiaTltsbie ACtlvltlesUhdertakenbytlie¢liArityforUi￿Y•￿r2o24I2s tlie UKatmarketstall NlanagÈrsl,and"ProDlors- (for refugees dolng thelr 2nd pald Ivb by be¢om5hg Sales Rtrpresenfatlves on tlie WholE5I1e ThDdèl) both In LDndon BrÉadwlnners PrOdu￿d their par￿cJpIE0ry Imp3Ct Report. U55ng for the 5e¢¢nd tlme Al volce récogThltlon to rdpture ￿rther inputs youiig programme participanlf voluiittstr of th￿Ir Inhthvatlvo approach4nd Iinpact. Bre4dwlnner5rEtrlvÈd Lwo recogn1￿￿￿5. Impartln Soclal Enterprlse'by PWC TruslAwJrds 2025.Rnd-Indu51ve LDndon Award"byLondTrnYouth 2025. Brwddwlnners'arttsan baked goods wereso1dat24weekly rnzrketsln knndon Brlght¢n.Mrfth overdll salts through mlrkets remainlng natytrdrohyoar. Thewhdesale "Protsrer￿ amd 'Tartlcipation ActSon Research" pmE[a￿￿E4 ds well as 784 days ol work exper￿ lor 'Rl£Èrs' prolrdmme laptopsand 15blwlesthrough referraI5￿thTheB1kePr01￿tto Pn5UTeI￿lUS[v5w￿￿￿Ac(¢ssJbkl5WtDOVrPro￿ra￿rnes. Breadwlnheys contillutd to oEfer lTh-person tralThinE sessions. provid1ng 137 5e551on5 th4t tsuihl hÈW Èmyloyabillty skills to prograTnMe pHrtk5pknts 3nd corniiiunity se551on5 to keEP the ThÈ téam comprlsod 8 ￿OPle 16.25 FfEI. a very lean orEani5aLion lor thè INcredlblt Iiiipactde1ivered. The t￿£t￿È& proudofthelmpactachieved bytheoTg3ntsallon andall theEraduate54nd mentpr$¢fthÈ"Er￿dWIThIIer4 R￿r4.￿nd"PrO0rPr5"progr￿knmès ThÈ"Rlsers- progrdmme. run by thecharltyforseven yeJr5.succe55fully dellvered Seven ttshtsrL*ofyouThgreEugees3Trd asylum seekerS￿d 16-24.fourofthtni London hlghattelldaiicorates, wSth paytlclpantrsdemonstramngtlielr eagerThe55to IEarThand bE a Iiiarketcomniunity.Through theptro¥rathmQ, 721 work trallsferable skilts, and 721 onc-on-one mentoring se55Ion5 were conducted to SuppDrt tholr porsollal devdopnient4nd exp4nd the5r TD Make tht programThe sI￿e 8T&dU3￿￿8 froin the prts8falhlllt,21 pirtlclpants rtcelvedperints51on to work have galMÈd èjmyloyiiient, 88alned job5wlth external p4rtnÈrs, and 13 weTe profftoted to pu51tl0ll5 in BTeadwlbhers Fduhdadon. 22 liavÈ yrogi'ossed Into tUTtlier educatlon orvoluntEerlhg rolés to contlnue tbelrcareer& Tlie$¢ uMbèrsonlYgetbetter&s￿l￿epassesaThdyoungpeOp1eare￿raMted tbelTre(ugee 5tsWS. and Brighton (the bigge51aniount ever), $6oltheTn WEresupportod bytho Br*advJlnntrs Fouiidadon Sn 5ecurlngthelrfirStltsb as part-tSineself-employed maTket5ts11 anagÈrs, Qdrrtlhg thc"Rcal" 15v5hg wage. In tot41. BreadwInnerSpa￿ E74.199.Z3 to young refugèES work at the marker& proYidlng931 days tsfwork exptrlence. sessSons.5uch a5 supply 5ale5. marketln& ?nd nnantlal mabagomonias well as supporland nianaEe the Work of"Rlserf partlclpants.To niake thls Slncegr*du4tlh8fromithÈpM8r&Mille, 15 forlobsoutsldeBreadwlnners, 13 PTogre55ed Into fvrthetwdrklm B￿ad￿nDerS.5prOEre5Se￿l￿Ets ￿rthÈr￿UCItI0Th The"ProDlers prts8raihMÈ llrst Èstabllslied sn rosponse to the COIqD-1g p4ndemlc in Ma￿h 2020. vdhen the BreadwIn￿crS Foundation piYotE4 to e-tomiiitrce themwlth theÈPPtsrtuhlty to lÈarhhtswtDwork romtstelyusliig ITand 1mprovethelrcustonier5erv1re5klll% Slnceer4du4tlngfrom theprV8ramMe,98rad￿3tQ%PyOyésStsd&ntn lobs3nd3 Into hJrthereduc%donaTrdtsa1Ml￿ Breadwliiner5 FoundRtlon forthe erlvdend¢d 31 MaTclI 2025 On lop of Qur 3 tlagship progratnrnes mentloned above. BreadwSnners also offered pald work aS"Partl¢lpatory Actlon Researchers to 37 yolliig r¢fu6￿ On thls Programrner yOUn8 refugtts and voluiiteer mentors lead our Particlpatory Actlon Researcli IPAkl proEe55, contait11￿ all our commun1ty aiid using Al-PDWefed Volce recognltlon rogather feedbackln MUl￿pIt]a￿gU81e$.Togelh¢r, tli¢y co-desigmedsurvey5. analysed respoiises aiid surfaced honesr,dlver5e per5pectlve& 51n¢e graduadngfrointheprogramme, 14graduaLes progrossed IntDfurtherl•bs and 14 Into [￿rEhe1'edllc￿dO]l and tralnln8. younE refugees new to the UK. Tlils piloL programme involved work exp¢￿ence In tlie ai'rs, storytellln& 5klll-bulldlng, And ¢0mmunlty-Tna￿￿8 by produclng a compellliigAudlovlsual EHhibitian"HeySa13ni HDla Bwakeye" wirh 3 expo.%idons,at Refugee Week STB corporate Partner,And the Belgn Hll￿lan Festlval. to change SlncegraduatlnE from the pllorpTograMine, Sgi?duatespro8ressed Into furihei'oppTrTtllnltles Ih theproductlonsertor. wStli the help ofvalunteer5. Thest actlvltles provlde a safe space larcommunlty membors io meeL foster a deeper sense of belonEln& and support the health and well-belng Dfpartlclpaiits. Durlngthe 2025 flnanclal perlod. the Brtadwlnn¢rs Founda￿0￿ ran 10 cafftmuhlty actlvltles. Includln8 a comedy nigh¢ a 15k walkand pl¢iilcforRefu8ee WeeK bowlin& theatre.ahd 5kruns. resolved. wirh IS curreiitly apen. Ourwork Is strengihened by partnerships ￿th 160 5ppcldllst oryank%aiion% 37 of whlcli have pro￿ded dlrect supporr io young people In Dur progratnme5.Séfegiiardlng¢onNnuesto underpln everyth1hswed￿ÈnSUr￿n8YO￿n8pe0pleC￿n enEagesafely and ¢4nfidently. On aur 14st Pardclpatory A¢tloii Research Impact repDrt, the Eifth $0 fdr. BreadWInne￿ Innavated once agaln by Incorporatlng tlie EarlyBird volce ree0gnlt￿n •92%ofyoungpeoplewho replled Arecurrentlyeitherworkln& studylngorvoluiiteerlng 443%g4 oil to work,3581 to studyp are volunteerliig Followed byla¢kofionlldence.leggl Dr right-ta-workbarrler5 aiid uncertaliityahoutcareerdirectlo Thls key dafa lllforms ¢han¥e5 comlng througli our iiewsirate8y. BreadwiTrne¥S kids rtrcogn1.%ed tlie usefulness Of t(￿)15 Ilke EarlyBlrd and chatboi Al loreTrhanclng young ppople5 partl¢lpaiioii. These technolo8ies have 51ÉnifiCantly Impl￿Ved liow Breadwinners 8ather Inslghts kiid feodback. mak[1￿ die endre PfoCe55 rnore Tlilsyoar. we measured our full carbDn Footprlni lor ilie first tinie across all three sCOPP5. Wllh pro bono supporr from Maria Fletcher Ion Purposel. we revlewed All our bread 311d baktrd goods use organlc flour. resulting Iii * 20.S% l¢iw¢r foowrliit thali conventlDtLal bread 141.8 tCQicI. Orgaiilc f3TThltE avold5 chemlcals. opprate a5 a zefo-wa51e orgaiiSsadon, saving 35 tCO2 by prevehtlng surplus food frorn galng to landflll. We albo mlnlnikse our own f(h)iprint by u51rtg sliared workspace ar3Space Internatlanal Hou5e.commUtlngsusraliiablyi and avoidlngslngle-use packagIngwI￿reVtrp0sS5b1e. allows lis to trackand evaluate progress aEhlThsrourTlieoiyofChange outcaTnes. ThLs enables us tosyst¢maEicAlly moiiitor the effectlveiiess ofour prograinmes I Improvlng the well-bein& 5kllls. and employabS11ry of our prograTnrne pÉrtldpants, Th¢ srar1s tlie basisofall tnentorlng reLRtlonslilp5.wher¢ mentors SUPPDrtthelr mentees to assess tlielrd¢vtlDpmentbefore and afterthe proErarnnie. •96.58%sald tlieli. comniunlcatlon5klllshad Improved •94.02%sald tliey lelttnofe prepAred loi'workand traliilng •94.87%5ald they le1t1￿•re rnotlvated to reachthelr¥oaL% •97.44%sald tliry feltthey'd niadeadlftÈren¢t Iii Ihelrc•mmunSty To gauge young people's ovei'all satisfaction, mplltors asked tlieni to rate thelr Ilkellhaod ofrecommendlng the Br¢adwliiners Foundauon to other youiig people. Tlie ro.%ultswereovei'whelmlNxly posltlv¢.wltha97.S2%NeL ￿.0moterScOrt Cu5tamer5. rnarket traders. restsurants, cafes and corporates havt not only benefited from the quallty ol products servlces offered by Bre2dwlnners Fouiidaiion's pr08rd￿rne parbclpants. btst they have al.%0 learned more about tlie partlclpants. experl¢nc¢s. storle& and countrle5 of or&ln. fost¢rS118 a deeper uiOerstandlngand coiiNe¢tlonbeLweeiidlfferentcornniunlties. The foundadon had the silPPOrt of 169 V¢ilunteer nientors, traiiied and supporied by rhe Breadwliiners, core tearn. who Iiave shar¢d ih¢lr 5kllls to support the young people and Breadwliiiiers, rn&slDii. These voluiiteers have rtported feellng useful to Uie prOErammes and thelr I￿al conimunSty, and the Breadwliin¢rs Bi'eadwSnners Foundatlon Ti'ustees. Report e2.lod onded 31 March Z025 Pa.qe 4. uitlniately, tlie BJ'eadwlJ)tteJ's programmes sUPPOI'ted ZZ9 PTogramme partlc5pants. Atthe tlme Dfwrltlng tlils repol'L 73 havesucCe55￿lIY progregstd Into Worii, and 45 have pi'ogTes5ed Into unlverslty, siudSes, ti'allllng othel. pfogrammes atter gT4duatlng froiii Bi'eadurfnneis and gallllng WOTk pernilts. bi'£adwlnnor5 keep In contactwjth 311 aurprogramrne paTtlcipants, and those numbers keep Imyrovlng wfith ttmje, as young people galn thelr refugeestatus. The Breadwinners Foundation focuses on supporiing refugees and yaung people seeking asylurn who are facing rnultiple disadvants8es. These individuals rnay liave experienced rrauma sucli as war. torture. or trafficking and as a resulr may have psychological and physlcal chéllenges that afftct thelr conndence. self- esicem. and mental well-belng. The foundation works with leading refusee organisatlons to Identlfy Indlvldua15 who have the drive and arnbition to worK bul Ikck the resourcesand UK experience to do so. Despite Tnany refugees beingh]￿lY skilled and educated. unemploymentamong refugees in London is estimated to be 3round 704'ldara froTn TENT & Lli'aking B3rrier"UK employers. guid¢ to Iiirillg refugees'l Compared to a London-wide unernployment r4te oral￿￿nd 4%. Barriers to flndliig work may includo 3 lack of UK irainliigand expcrlcn¢e. language Issue¥d15¢fimination and rnisconceptions from employersabouLrhelr rl8hitO WDrk Thls 15 especially challenglng for indivlduats who have not been allowed to Work for long pErlods whlle seeking asylum and living on ihe minim31 supporr of £7.02 a daVldaf3 from Gov.ukl. Newly recognised refugees also often face gaps in supporf, such as delays in receivins documents and the rapld wilhdrdwal ol 5UPPOrt ihcy rec¢ivcd whlle seeklng asylum. Th15 can lead to destiLuDDn. Tlie Breadwilln¢rs Foundatlon's programmes.'Rlsers','ErpadwlnnerS' and'Proofer¢, alm tosupport these Ihdlvldua15 to overcoTne these barriersand move qulckly Intowork, learn orlmprove their English,and joln the local communlty. The 3readwnn¢rs Foundaiion Is gr3reful for the genero￿ support ol ILE funder.%. including the Chalk ClirrTrusL Choost Lovt. Clifford Chance, Garneld Weston Foundatlon. Henrysmlth Charity, Impetus, loanie5 Fund. New Deal lorYLlUnE People. Rdyne Foundatlon. Society olthe Holy Child jesus, Souter Charitable Trus¢ SteWard5hipJ The Lawson TrusL The National Lotr¢ry Community Fund. Your Station Your Community Fund. These ni'ganisations have provided (r￿claI funding to the fomndatloll, allowing itto coniinuc its Mlssioh of5upportingrefugees and youngpeopleseekinga5yluni who face multiple disadv3nts8e In addition to these funders, the foundation also recelves donatlons Irom individuats through market stslls, our websiie. and fundraisiiig event5. The Bre3dwiDners Found4tioii would Ilk¢ io ¢xiend its heartfelt gratitude to Shipton Mill, Kaoudier, Lauren. Extra Braln Ltd. HSBC M3rihln& PWC Foundaiion. University ol Cambrldge.. and the donor5 of Weddingholita. Graduatiolls. Community Walk & Picnlc partlclpants. Brlghton Walk & Plchic, Hackney 5K, Maddls Hair, Refugees & Asylum Seekers campJign, IOK Run. Yasmin s Ilaif. Payroll Glvln& StEWardshlp, The Blg Give, for their kind donations and fundraisers. Their support is essential to the foundation'sability to purchaseequlpmentand Dpen new markew and hold community events that have a posltlve impacton the Ilves ofyoungrefugees. Breadwinners Found31i0n 15 commirted to achlevlllg long-tenn flnanclal snd environThentsl 5usraiiiability. reduclng its rellance on grant fundlng and Its Impact on rh¢ envlronmenL The foundation's goal is to have a diverse SOUTce of income ro ensure th¢ stablllty and contlnulty ol its programmes ahd Servltes whlle offerlngah envlronmentally Iriendlyalternativetocv$iomers. In the ¢urrenr flnan¢lal year, the foundatlon has seen 4 significanr decrease in its revenue generated through sales, With a decrease of-10.72% compared to the prpvious year, totralling £261,9S2. On the other hand. rhe foundaiion successfully setured INcrpa5ed income from Granrs and Donauons. wilh a toral ol E466.182 generared, making it a 26,43% Incrcasc ro the prcvlDU5 PErlod and marking a record high for Breadwinner& kn a result of March 2025. 34.87% of the totsl Incomc came from traded Income.whlch hasbeen the lowestpercentsgeso far. Overall. BreadwjnneTS 3chieyed a totsl incomt ofE751.120, a 7.66% Increase cornpared to the prevjous period. The INCr¢￿e in grants and Ove￿1] Income has allowed the foundaiion io support more benenelafies, with an incre￿e of 16% in nuniber of programme par11dpants. Breadwlhners Foundatlon Strlves for sustalngble growth and dlversificabon of its income sources to ensure ir¢an Collllnuc to positlvely Impact the IIveS 0[ref￿geeS and young ppople seeking3syIurn whoare lacing multiple disadvantages, Wlth a rapld ahd Uhexpetted Increase in the Cost of Goods.. specifically inRredlents and tnergy. coupled With the c05t-of-Ilving salary inCTEases foT our people, resulted in higher overall costs, Regardless. and thanks to redoubled ellort5 tsn I￿ndraIsIng frorn grant5 and foundations, Breadwinners h¥5 a surplus or £112.360. Yijs Is a significanLr¢suli thaL has helped us recoveruur reserves. Asa r￿ulE, tlie Breadwinners Foundarion invcsred In tncreaslngc0￿ team capadty on Programm¢s and fundraisln& ImplementingSale5force for M&Qand the well-being ofthe ieatn. Aswe look forward. the Breadwlhners Foundabon rernajw committed ro updating its srrareEyand frameworks t4 support refugees and young peopleEeeking asylum long-term work We will continue to rnonitor and evalukre our performdllce to ensure that ottr work remain5 service-u5er-led, ].% continuously developed to meet the changing n¢¢ds of our bencnclarles, ahd provlde5 transparency to our funder& We are also CnTnmit*d ro conducting our firsr PariicipaiDryAcriDlI R¢5¢arch ImpacrReporitogalh a deeper Understsndingof theirnpacrofourproRrdmmes. readwlnneT5foundatlon In the comIngYear.￿ plan to keep expandlThgour programmes acr055 London and Brlghtoll. and groivlngour Markds and WholÈsale MDdd. We iylll bÈ looklng to Breadwlnners Resei'vesPollcy They have ron51dered thelr re5ponlbllltle5 and a55e55ed thE miln arEI5 oIT15k tsknngacuon as nece&%ary to Tnlnlmlse that T15k and ensure beneficiarles are itthe Brèddwlhlléts Is tDmmlttEd to proieEtITh8 bÈnEfjclarlÈs. Wè itrahl¢urbÈhÈfitlarlÈs.SUPP¢rterx ru5tomer5. Volunteer& and 5tsrrtfj IEel CDnfidentand comfortsble th bowthe8readwlnner5 Foundition managE5financlal rt5k 0EFINIT￿NoFRESERvES The Code ol Governance for Charltles and IPCS (Guidellne 6.3.1) 5tste5.'While chirlttes should milntsln some level of reserves lo ensure long-tttm financlal The tenn -fleserve￿ L% used to descrlbe the part of a charlty's Incorne fund5 that are freely avdllablc For Its operatlng purposts aiid not subject Its p1anntdexptndl￿re5,Or5pel1dlllg IIEMlt& Reservesdo notlnclude endowmentfund&rtstrlCt￿ funds.ordesWated Fuhds. BTpadwlnneT5Foundatlon5trfve5tu have3 nLonth50(CbaTltableOpetatlonRI C05tsa5unrestrlctedreserves.wblch byMarch20251sE9Q,600. RESBRVESLEVELCALCVLATION •cashfiowan￿ys1S •ExamlnlngthellkelychangcslntheprSmarysourcesoflncome •A55e55menlofthe ri5k5facingthecharityand h0wllkelythe5earetomatEr￿I1se.' Analpls ofany llÈed4oPptsriunldé4COAtlngÉnd￿OrrI5￿'￿5Sts5mÈnttslthé IlkÈllhoodofÈaChofthtrsenÈ￿SaylSI￿g3nd thÈ potenval ¢OnSe4u¢￿tÈs ltyr thocharfty'slbabllltyth m¢etthe sta¢*methlunRe5erVe5 byM4Tcb ZQ25 Flnakn¢i#lA¢tlonP1411 Althtclosèof Uie flhantlal yÈar 31 Marcli 2Q2S, Breadw5nners Cliarlty held É2S3,521 In Ifsb3hk*tount, wlth £180,785unrosrrlttÈd rÈsQr￿&ets￿ftsrtlb1Y￿￿vt rtstgÈtofmalhtsinin8fe5prn¢55uffidenitot¢vÈrthrèo MOhthsDrtspÈrat5tsh￿ ctss AppTOYEd bythE Board ofTrustees on 1811212025 andagnedon thEirbehilfby'. MarlkawSI￿nSoTr IWceCh4ir) (FlnanceTrustee) Independent Examlner'5 llepDl*to theTrllstees of Pome 6. ended 31 March 2025 I rtporton ih¢ fiiian