Charlty reglstratlon number 1168812 (England and Wales) THE SOHO RECOVERY CENTRE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 THE SOHO RECOVERY CENTRE LEGALAND ADMINISTRATIVE INFORMATION Trustees Mf Joseph Townley Miss Jacqueline Withey Mr Alex Iliadis-Koutsikos Mr Kevin Madellan Mr George Boyd Ms Anabel Moore-Brabazon Mr Daniel Sheahan Mr Christopher Smith SRC Venue Manager Mr M Woodward Charlty number 1168812 Prlnclpal addr￿$ 123 Charing Cross R08d Soho London WC2H OEW Regl$tsr8d offlce 45 Magpie Meadows Caddington Bedfordshire LU14FU Independenl examlner Brown Warner LLP 38 Northgate N￿ark-on-Trent Nottingharnshire NG24 1 EZ THE SOHO RECOVERY CENTRE CONTENTS Page Trustees, report Indèpendent examiners report Statement of financial actsvitiès 8alan¢% sheet Notes lo the financial statements 6-12 THE SOHO RECOVERY CENTRE TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and finanual statements for thè year ended 31 March 2025. The accoL¢nts have been prepared in accordance wlh the accountrng policies set out in note 1 to the accounts and Imply with the chanty's conslilution, 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 {FRS 1021. las amended for acwuntsng periods commenrjng from 1 January 20191 Objectlve8 and actlvltles Thè chanty's objects are for the public benefit.. 11 The adVan￿rnent of health and the prevention of ill health of persons suffering from addictions induding but not limited to drug and alcohol addition. 2) The support and relief of individuals. families and communities affected by the health, social and other problems related to addictsons including bLrt not limited to drug and alcohol addictson. There has been no change in these dunng the yèar. The Soho Recovery Centre I'SRC'I will be a safe place in the heart of London for 12-step recovery meetings. Available to any 12 slep fellowship group such as Alcoholics Anonymous, Narcotics Anonymous. Cocaine Anonymous, Crystal Meth Anonymous, Aanon and Anorexics and Bulimics Anonymous etc for their meetings to take place. It wll be open 385 days a year, The trustees have paid due ￿gard to guidance issued by the Charity Commission in deciding what activities the ¢hanty should undertake. A¢hl8vement8 and porfomiance The SRC has had a very successful year and is becoming an 8v8r more vital resource for those seeking rècovéry in Central London. The centre is getting ever busier. We now have 44 meetings each week in the large room and attendance is often above s￿60 people per meeting. Some meetings are even 81 capacity. Since the opening of the Elizabeth Line more and more people are coming into Soho at the weekends and our weekend meetings are getting very popular. The Small Room has successfully launched and hosts 11 m8etings a week. It is certainly providing a much-needed resource for small meetings and less-well known fellowships, who, while low in number, are greatly needed by their members. Previously, these meetings were priced out of spa￿S in Central London and this room has really helped the SRC fulfil its mission of making all manner of addidjon recovery meetings available in a Central London space. The SRC has had a good fvnd-raising year with an inuease in donations form meetings which are now largely covering our running costs. Flnanclal review Income of £105,762 was raised during the year. Donatsons from meetings continued to rise dunng the year. The charity spent £114.190 on charitable activities running the Soho Recovery Centre. Unrestricted funds at 31 March 2025 stood at £44,779. It is the policy of the tharity that unrestricted fijnds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that. in the evenl of a significant drop in funding. they will be able to continue the charity's current aclivities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have asse55ed the major risks to which the chanty is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. THE SOHO RECOVERY CENTRE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods The SRC has secured its current space for the next 5 years whith secure5 the immediate fvrture of the centre. The priority is to focus n the smooth functioning and of the ￿ntre at larger capaaties and also to ensure we begin to build a prudent financial reserve again. Structure. governance and managemenl The charity was registered on 17 Augusl 2016 with The Charity Commission as a charitable incorporated organisation and is governed by a constitution. The trustees who served during the year and LIP to the date of signature of the financial statements were.. Mr Joseph Townley Miss Jacqueline Withey Mr Alex Iliadis-Koutsikos Mr Kevin Maclellan Mr George Boyd Ms Anabel Moore-Brabazon Mr Daniel Sheahan Mr Christopher Smith The constitution prowdes that there shall not be less than three tiustees and a maximum number of ￿e1Ve. Truslees are appointed for three years. The selecting of individuals for appointment as trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. On appointment the new trustees receive a copy of the constitLrtJ'on and a copy of the latest set of accounts. None of the trustees has any beneficial interest in the charity. The Soho Recovery Centre is run by a board of trustees, guided by the 12 Tradth'¢MS of AA. The trustees consider financjal matters and review the risks to which the charity is exposed to ensure appropriate controls are in place. A Steering Cornmittee is responsible for the day to day running of the centre. The trustees. report was approved by the Board of Trustees. Miss Jacqueline Withey Truslee Date.. THE SOHO RECOVERY CENTRE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOHO RECOVERY CENTRE I report to the trustees on my examinab'on of the ffinanual statements of The Soho Recovery Centre (the charrty) for the year ended 31 March 2025. Responslbllltles and basis of report As the trustees of the charity you are ￿sp(￿Sible for the preparation of the finanaal statements in accordan￿ with the requirements of the Charities Act 2011. report in respect of my examination of the charity's finanoal ststements ¢2rried oul under section 145 of the Charities Act 2011. In carrying out my examinab.on I have followed the Direth"ons given by the Chanty Commisson under sethon 145{5)Ibl of the Charities Ad 2011. Independent examine¢s statement Your attention is drawn to the fact Ihat the charity has prepared the financial ststements in accordance wth the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in acLordance wlh the Finanrjal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preferen￿ to the Accounting and Reporting by Char￿.es." Statement of Recommended Practice issued on 1 April 2￿5 which is referred to in the extant regulaty.ons but has now been withdrawn. l understand that this has been done in order for the finarboal statements to promde a tTue and fair view in accordan￿ with UK Generally Accepted Accountyng Prath"￿. I have completed my examination. I confim that no matters have come to my attents'on in conneth'on V￿th Ihe examination giving rne cause to believe that in any material respect". accounting records were not kept in respect of the charity as required by sethon 130 of the Charities Act 2011. the finanual slatemenls do not accDrd wrth those records.. or the finanaal ststements do not comply with Ihe applicable requirements corKeming the foTh and content of finanaal staternents sel out in the Charities (A￿unt$ and Reports) Regulations 2CK)8 other than any requirement that the ffinanaal ststements gbve a true and fair view, is not a matter considered as part of an independent examination. I have no cOn￿mS and have come across no olher matters in connection wlh the examination to vthich attention should be dravm in this report in order to enalle a proper understsnding of the financial statements to be reached. David Brown FCA Brown Warner LLP Chartered A￿oUntants 38 Northgate Newark-on-Trent Nottinghamshire NG24 1EZ . 27 Dated. THE SOHO RECOVERY CENTRE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Total Totsl Unrestricted Unrestricted funds funds 2025 2024 Notes Income from: Donations and legaues Investments 105,581 181 101,858 271 Total Income 105,762 102,129 Ex nditure on: Raising funds Charitsble activities 685 113,505 372 115,144 Total resources expended 114,190 115,516 Net expenditure for the yearl Net movement in funds (8,428) {13,387) Fund balan￿S at 1 April 2024 53,207 66,594 Fund balances at 31 March 2025 44,779 53,207 The statement of finarscial activities includes all gains and losses recognised in the year. All income and expenditure denve from conts"nuing activib'es. THE SOHO RECOVERY CENTRE BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Fixèd assets Tangible assets 11 166 Current assets Debtors Cash at bank and in hand 12 21,573 28,857 38,003 23,573 50,430 61,576 Creditors: amounts falllng due within one year 13 {5,817) 18,7351 Net current assets 44.613 52,841 Total assets less current liabillties 44,779 53,207 The funds of the charity Unrestricted funds 15 44.779 53,207 44,779 53,207 The finanaal statements were approved by the trustees on . Miss Jacqueline Trustee THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcies Charity information The Soho Recovery Centre is a Charilable Incorporated Organisation. The registered office is 45 Magpie Meadows, Caddington, Bedfordshire LU14FU. 1.1 Basis of preparation The accounts have been prepared in accordance with the chanty's constitulion, the Charities Act 2011 and "Accounling and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting penods commencing from 1 January 20191. The charity is a Public Benefrt Entity as defined by FRS 102. The charity has taken advantsge of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial ststemenls havè departed from the Charities (Accounts and Reports} Regulations 2008 only to the extent required lo provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been vrithdrawn. The ffinanc￿al statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these finanaal statements are rounded lo the nearest £. The finanaal statements have been prepared under the historical cost convention, Imodified lo include Ihe revaluation of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted ale set out below. 1.2 Going concem At the ts'me of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounling in preparing the financial ststements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purpcsses and uses of the restricted funds are set out in the noles to the financial statements. Endowment funds are subject to specific condrtions by donors that the capital must be maintsined by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance condilions have been mel. the amounts can be measured reliably, and it is probable that income will be received. Cash donakn.ons are recognised on receipt. other donabons are recognised once the charity has been notified of the donation, unless perfomiance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the tsme of the donab'on. Legacies are recognised on receipt or otherwise if the charity has been nob.fied of an impending dislribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a conts'ngent asset. THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollci08 (Contlnued) 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be measured reliably. 1.8 Tangible flxed a3sets Tangible fixed assets are initially measured at cost and subsequently measured at cosl or valuation, net of depreuation and any impairment losses. Depreciation is recognised so as lo write off the Cost or valuation of assels less their residual values over their useful lives on the following bases.. Fixtures and fittings 25% to on cost The gain or loss arising on the disposal of an assel is determined as the differen￿ bebveen the sale proceeds and the carrying value of the asset, and is recognised in Ihe statement of financial activities. 1.7 Impalrnient of flxed asset• At each reporting ènd dal8. the charity reviews the carrying amounts of ils tangible assets to delermine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, Ihe recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif anyl. 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held al call wth banks. othèr short-tem liquid investments with onginal maturities of three months or less, and bank overdrafts. Bank overdrafts are 8hown within borrowngs in current liabilities. 1.9 Flnanclal In8trument8 The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its finanoal instruments. Finanaal instruments are recognised in the charity's balance sheet whèn the charity becomes party to the contractual provisions of the instrumenl. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when Ihere is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Bas1¢ flnanclal assèts Basic financial assets, which indude debtors and cash and bank balanGe5, are initially measured at transaction price including trans8Ction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitute5 a financing transaction, where the transaction is measured at the presenl value of the fiJture receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policie3 (Continued) Basic financial liabilitiès Basic financial liabilities, induding creditors and bank loans are Initially recognised al transaction pri￿ unless the arrangement constitutes a finanang transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interesl. Financial liabilities classified as payable within one year are not amorbsed. Debt instruments are subsequenwy carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operats'ons from suppliers. Amounts payable are dassified as current liabilities if payment is due wthin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised inilially at transaction price and subsequenly measured at amortised cost using the effective interest method. Derecognition of Ilnancial liabilities Financial liabilities are derecognised when the tharity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.11 Retlrement beneflts Payments lo defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estlmates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historic21 experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The esbmates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised ln the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and fvture periods. Donatlons and legacies 2025 2024 Donations and gifts Donations from individuals and companies Web donations Meeting donations Gift Aid 822 2,512 101,713 534 12,379 3,407 85,569 503 105,581 101,858 THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from Investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Interest receivable 181 271 Raising funds Unrestricted Unrestricted funds funds 2025 2024 Fundraisin and ublici Website and giving costs 372 Charltable activities 2025 2024 Staff Costs Depreciation and impaimient Meeb'ng space costs Independent examination Meetings Bookkeeping Registered Office Fees 16,873 200 91,032 2,400 16.808 301 92.395 2,400 3,000 240 113,505 115.144 Net movement in thnds 2025 2024 The net movement in fvnds is ststed after chargingl{crediting)'. Fees payable for the independent examination of the charity's financial statements Depreciabon of owned tangible fixed assets 2.400 200 2,400 301 Trustees None of the trustees lor 8ny persons connected with them) received any remuneration or benefits from the charity during the year. THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Employment Costs 2025 2024 Wages and salanes Other pénsion costs 16.563 310 16,500 308 16,873 18,808 There were no employees whose annual remuneration was more th8n £60,1)00. Remuneratlon of key managemont personnel The key management personnel comprises the Board of Trustees and the SRC Venue manager whose remuneration was £16,56312025 £16.5001. 10 Taxallon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or se¢tion 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its ¢haritable objects. 11 Tanglble flxed a••gtg Flxturo• and flttlngs Cost At 1 April 2024 8,485 At 31 March 2025 8.485 Depreclation and Impalm)ent At 1 April 2024 Depreaation charged in the year 8,119 200 At 31 March 2025 8,319 Carrylng amount At 31 March 2025 At 31 March 2024 366 10- THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Debtors 2025 2024 Amounts lalllng due wlthln on• year: Trade debtors other debtors Prepayments and accrued income 4,470 16,500 603 2.850 16,570 18,583 21,573 38,003 13 Credltors: amounts falllng due wlthln one year 2025 2024 Trade creditors Other creditors Accruals and deferred income 3.110 57 2,650 2,878 57 5.800 5,817 8.735 14 Retlroment bènefit 8¢hemes 2025 2024 Deflned contrlbutlon s¢heme8 Char9e to profil or loss in respect of defined ¢ontnbution schemes 310 308 The charity operat6s a definèd contribution pension scheme for all qualifying employees. The assets of Ihe scheme are held separately from those of the charity in an independently administered fund. 15 Unrestrlcted fund8 The unrestricted fvnds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These include designated funds which have been set aside OLrt of unrestncted funds by the trustè8s for specific purposes. At 1 Aprll Resources At 31 MaKh 2024 expended 2025 Incomlng rosources General funds 53,207 105,762 (114,1901 44,779 Prevlous year: At 1 Aprll 2023 Incoming regource8 Resources At 31 March expended 2024 General fijnds 66.594 105,129 (118,5161 S3,207 11 THE SOHO RECOVERY CENTRE NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Operatlng lease commltments Al the reporting end dale the charity had outstanding commitmènts for future minimum lease payments under non-cancellable operating leases, vthich fall due as follows.. 2025 2024 Within one year 18,000 18,000 17 Related party tran8actlon8 There were no disclosable related party transactions during the period 12