COMPANY REGISTRATION NUMBER: CE015104 CHARITY REGISTRATION NUMBER: 1179898
Project 21 Company Limited by Guarantee Unaudited Financial Statements 30 September 2025
JERMYN & CO ACCOUNTANTS LIMITED
Chartered Accountants Unit 3 Hill Farm Kirby Road Kirby Bedon Norwich Norfolk NR14 7DU
Project 21
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1-6 |
| Independent examiner's report to the trustees | 7 |
| Statement of financial activities (including income and | |
| expenditure account) | 8 |
| Statement of financial position | 9 |
| Notes to the financial statements | 10- 15 |
Project 21
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 30 September 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2025.
Reference and administrative details
Registered charity name Project 21 Charity registration number 1179898 Company registration number CE015104 Principal office and registered Project 21 Clubhouse office Units 1-3 Brightwell Barns Waldringfield Road Brightwell Ipswich Suffolk IP10 0BJ The trustees C Adwent R Jones (appointed 24 February 2026) F Rogers (appointed 21 April 2026) M Rogers (appointed 21 April 2026) A Evans T Stannard (resigned 14 October 2025) A Harston (appointed 11 February 2025) Independent examiner Karl Jermyn, FCA Jermyn & Co Accountants Limited Unit 3 Hill Farm Kirby Road Kirby Bedon Norwich Norfolk NR14 7DU
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Project 21
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2025
Introduction
The Trustees are pleased to present Project 21's Annual Report alongside the financial statements for the year ended 30th September 2025.
This has been another landmark year for the charity. We have continued to grow in both size and impact, supporting more people with Down's Syndrome than ever before whilst strengthening the organisation for long-term sustainability. Our focus has remained firmly on creating meaningful opportunities for people with Down's Syndrome to belong, believe and achieve throughout every stage of life.
As demand for our services continues to increase across Suffolk, Essex and Cambridgeshire, we have invested in our people, systems, governance and partnerships to ensure that Project 21 remains well positioned for future growth.
Objectives and activities
The charity’s objective is to promote social inclusion and relief of need for the public benefit among people with Down’s Syndrome (and their families) who are socially excluded on the grounds of their disability, by providing:
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information and bespoke activities tailored to support and enable people with Down’s Syndrome (and their families) to maximise socialisation and employment opportunities
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raising public awareness of the issues affecting people with Down’s Syndrome both generally and in relation to their social exclusion;
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workshops, clubs, events, activities, advocacy and a support network;
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recreational facilities and opportunities for people with Down’s Syndrome; and
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any other means as the trustees in their discretion shall determine
Project 21 is a community-orientated organisation established in 2018. The first branch opened in Ipswich, Suffolk. Due to recognising the compelling need for this service outside of Suffolk, Project 21 opened two further branches in Colchester, Essex (2019) and Cambridge, Cambridgeshire (2020). The charity is accessed by over 100 people with Down’s Syndrome (and additionally their families) with an all-encompassing age range spanning from babies to elderly.
Alongside providing a resource network, the organisation offers a variety of services for the DS Community across the three counties. These services include both weekday and weekend provisions, a variety of school holiday/half-term activities and residentials. Project 21 works closely with statutory and voluntary organisation partners on projects related to health & wellbeing, education, and employment to empower individuals to achieve their full potential. The charity also organises various cultural and community events throughout the year, such as public performances (both on stage and in communal outside spaces) with the purpose of raising awareness and connecting with society.
Project 21 is now a highly significant support organisation which represents a diverse range of interests, nationalities, and abilities within the DS Community. The charity additionally provides employment and training opportunities to an ever-growing staff team; upskilling many members of the local community and offering both paid and volunteer roles.
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Project 21
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2025
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit. Whilst the charity is helped by grants, fees/charges for some services are inevitable in order to sustain services. The trustees give careful consideration to the accessibility of its activities for those on low income.
A Year of Growth
Throughout the year the charity has experienced significant organisational growth.
Our specialist provision has continued to expand, with demand increasing across our programmes. By the end of the financial year, we were approaching operational capacity, with occupancy projected to exceed 90% from September 2025.
Alongside increased attendance, we have continued to diversify the opportunities available to members, including:
Community-based learning programmes
Specialist performing arts provision
Residential breaks
Work placement opportunities
Supported volunteering
Independent living and life skills development
Social and wellbeing activities
Our provision now supports individuals across a much broader age range and with increasingly diverse aspirations, enabling members to develop confidence, independence and employability whilst remaining connected to their local communities.
Developing New Opportunities
One of the most significant developments this year has been the continued expansion of our supported employment pathway.
Project 21 has successfully established meaningful work placements with local employers, creating genuine opportunities for members to gain workplace experience, develop employability skills and contribute within real working environments.
These partnerships demonstrate what is possible when employers recognise ability before disability and
continue to strengthen our vision of lifelong opportunity.
Residential provision has also continued to grow, providing members with valuable opportunities to develop independence, confidence, social relationships and life skills in safe and supportive environments.
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Project 21
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2025
Partnerships and Community Support
Project 21 continues to benefit from exceptional support from local businesses, charitable trusts, community organisations and individual supporters.
During the year we have developed and strengthened partnerships across multiple sectors, helping us increase both financial sustainability and community engagement.
We are particularly grateful to our corporate partners, grant funders, volunteers, families and individual donors whose continued belief in our mission enables us to expand opportunities for people with Down's Syndrome.
The charity also continued developing relationships with employers, education providers, local authorities and health professionals to improve pathways and outcomes for those we support.
Trust Board
T he Trustees recognise that strong governance is fundamental to the charity's continued success.
Throughout the year the Board has continued to oversee the strategic direction of the organisation whilst ensuring appropriate financial oversight, risk management and regulatory compliance.
Policies and procedures have continued to evolve alongside organisational growth, with regular review of safeguarding, health and safety, financial controls, recruitment, equality, data protection and governance arrangements.
Trustees continue to review organisational risks throughout the year and are satisfied that appropriate systems are in place to safeguard the charity's assets, reputation and beneficiaries.
Financial Review
The charity remains in a strong financial position and has continued to grow responsibly throughout the year.
Income has increased significantly compared with previous years, reflecting both increased demand for services and continued success in fundraising and partnership development.
The Trustees continue to monitor expenditure carefully while investing strategically in staffing, infrastructure, transport, technology and organisational development to support sustainable future growth.
Reserves continue to be monitored against the charity's reserves policy to ensure sufficient protection against unforeseen circumstances whilst allowing investment in strategic priorities.
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Project 21
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2025
Looking Ahead
The coming year represents an exciting chapter in Project 21's development.
Demand for our services continues to grow rapidly, and planning for the charity's long-term future has become an increasing strategic priority.
Key objectives for the coming year include:
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Continuing to expand specialist provision to meet increasing demand.
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Further developing supported employment opportunities.
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Strengthening relationships with local authorities and education partners.
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Investing further in leadership, staffing and organisational capacity.
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Continuing implementation of new digital systems and operational improvements.
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Securing additional grant funding and corporate partnerships.
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Progressing the Project 21 Big Build programme.
The Big Build represents the next phase of the charity's development and reflects our ambition to create a purpose-built community hub where people with Down's Syndrome can learn, work, perform, socialise, access support and ultimately thrive throughout adulthood.
During the coming year we will continue exploring land opportunities, developing strategic partnerships and building the foundations required to make this vision a reality.
Our Thanks
None of Project 21's achievements would be possible without the dedication of our staff team, volunteers, trustees, families, supporters, partners and, most importantly, our incredible members. Their determination, resilience and achievements continue to inspire everything we do.
The Trustees extend their sincere thanks to everyone who has supported Project 21 throughout the year. Together we are creating a future where people with Down's Syndrome are recognised for their talents, ambitions and potential, and where opportunity is defined by possibility rather than limitation.
As we look ahead, we remain ambitious for the future and committed to ensuring that every person with Down's Syndrome has the opportunity to belong, believe and achieve.
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Project 21
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 September 2025
Structure, governance and management
Trustees' responsibilities statement
The charity trustees are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period.
In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgements and estimates that are reasonable and prudent;
• state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
The trustees' annual report was approved on 27 July 2026 and signed on behalf of the board of trustees by:
A Hartson Chair
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Project 21
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Project 21
Year ended 30 September 2025
I report to the trustees on my examination of the financial statements of Project 21 ('the charity') for the year ended 30 September 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act’).
I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales (ICAEW) which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Karl Jermyn, FCA Jermyn & Co Accountants Limited Independent Examiner
Unit 3 Hill Farm Kirby Road Kirby Bedon Norwich Norfolk NR14 7DU
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Project 21
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 September 2025
| 2025 Note £ Income and endowments Donations 20,516 Grants 55,000 Events 413,006 Total income 488,522 =========================== Expenditure Expenditure on raising funds: Costs of trading activities 5 474,187 Total expenditure 474,187 =========================== Net income and net movement in funds 14,335 =========================== Reconciliation of funds Total funds brought forward 60,014 Total funds carried forward 74,349 =========================== |
2024 £ 24,468 54,956 290,003 369,427 ================================ 330,635 330,635 ================================ 38,792 ================================ 21,222 60,014 ================================ |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 7 to 12 form part of these financial statements.
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Project 21
Company Limited by Guarantee
Statement of Financial Position
30 September 2025
| Project 21 Company Limited by Guarantee Statement of Financial Position 30 September 2025 |
||
|---|---|---|
| Note Fixed assets |
2025 £ |
2024 £ |
| Tangible fixed assets 10 |
21,169 |
23,372 |
| Current assets | ||
| Debtors 11 Cash at bank and in hand |
43,375 59,614 102,989 |
22,143 25,522 47,665 |
| Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Net assets Funds of the charity Unrestricted funds Total charity funds |
49,809 53,180 74,349 74,349 ================================ 74,349 74,349 ================================ |
11,023 36,642 60,014 |
| 60,014 ================================ 60,014 60,014 ================================ |
These financial statements were approved by the board of trustees and authorised for issue on 27 July 2026, and are signed on behalf of the board by:
A Hartson
The notes on pages 10 to 15 form part of these financial statements.
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Project 21
Year ended 30 September 2025
Company Limited by Guarantee
Notes to the Financial Statements
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Units 1-3, Brightwell Barns, Waldringfield Road, Brightwell, Ipswich, IP10 0BJ.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service.
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Project 21
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2025
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
- Equipment 20% straight line Motor Vehicles - 25% reducing balance Fixtures and Fittings - 20% straight line
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Project 21
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2025
3. Accounting policies (continued)
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The charity is a company limited by guarantee and does not have share capital. Every member of the charity undertakes to contribute such amounts (not exceeding £10) as may be required in the event of a winding up.
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Project 21
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2025
5. Costs of raising funds
| Costs of raising funds | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Direct expenses | 95,507 | 132,424 |
| Wages and salaries inc. pension | 280,690 | 156,349 |
| Advertising | 1,685 | 862 |
| Accountancy | 1,411 | 1,378 |
| Clothing | 2,776 | 3,221 |
| Insurance | 2,182 | 431 |
| Rent | 33,632 | 3,950 |
| Training | 2,820 | 1,527 |
| Travel | 24,010 | 13,281 |
| Website | 78 | 709 |
| Printing and Stationery | 351 | 164 |
| Depreciation | 8,650 | 7,791 |
| General expenses | 14,607 | 2,892 |
| Car Lease | 5,788 |
5,656 |
| 474,187 | 330,635 | |
| =========================== | ================================ |
6. Taxation
The charity is a registered charity and is therefore exempt from taxation.
7. Net income
Net income is stated after charging/(crediting):
| Net income is stated after charging/(crediting): | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 8,650 | 7,791 |
| =========================== | ======================= | |
| Independent examination fees | ||
| 2025 | 2024 | |
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | - | - |
| =========== === | ============== |
8. Independent examination fees
9. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2024 | 2024 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 236,306 | 144,422 |
| Social security costs | 33,076 | 5,942 |
| Employer contributions to pension plans | 11,308 |
5,985 |
| 280,690 | 156,349 | |
| =========================== | =========================== |
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Project 21
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2025
The following numbers of staff have emoluments above £60,000:
| 2025 | 2024 | |||
|---|---|---|---|---|
| Between | £60,000 | - £70,000 | 1 | 1 |
The average head count of employees during the year was 25 (2024:22).
10. Trustee Remuneration and Expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
The charity did not meet any expenses incurred by the trustee for services provided to the charity.
11. Tangible fixed assets
| Motor Vehicles Equipment Fixtures and Fittings £ £ £ Cost At 1 October 2024 31,000 203 - Additions - 1,510 4,937 At 30 September 2025 31,000 1,713 4,937 =========================== =========================== =========================== Depreciation At 1 October 2024 7,750 81 - Charge for the year 7,750 242 658 At 30 September 2025 15,500 323 658 =========================== =========================== =========================== Carrying amount At 30 September 2025 15,500 1,390 4,279 =========================== =========================== =========================== At 30 September 2024 23,250 122 0 =========================== =========================== =========================== Debtors 2025 £ Trade Debtors 43,375 =========================== |
Total £ 31,203 6,447 37,650 =========================== 7,831 8,650 16,481 =========================== 21,169 =========================== 23,372 =========================== 2024 £ 22,143 =========================== |
|---|---|
12. Debtors
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Project 21
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 September 2025
13. Creditors: amounts falling due within one year
| 2024 £ Trade creditors 11,167 Pension contributions 8,983 Accrued expenses 25,058 Social security and other taxes 4,601 49,809 ======================= |
2024 £ 2,994 5,250 - 2,779 11,023 =========================== |
|---|---|
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