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2025-03-31-accounts

Company Registration Number : CE021106 Registered Charity : 1188519

SOCIAL ARK

ANNUAL REPORT AND ACCOUNTS

31[st] March 2025

CONTENTS

  1. Objectives & Activities

  2. Statement of Trustee Responsibilities

  3. Independent Examiner’s Report

  4. Statements of Financial Activities

1

Social Ark – Trustee’s Annual Report

The Trustees present their annual report together with the financial statements of the Charity for the year 1[st] April 2024 to 31[st] March 2025.

Objectives and Activities

a. Policies and Objectives

The objects of Social Ark, as set out in our governing document are:

To act as a resource for young people up to the age of 30 living in London and the surrounding areas by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

(b) advancing education;

b. Activities for Achieving Objectives

Social Ark started as a CIC in 2015 and converted to a CIO, gaining charitable status in March 2020. Set up by local resident Lisa Stepanovic, Social Ark is a charity that works with young people from under-resourced East London backgrounds. Social Ark empowers young people to use their lived experience to start social enterprises through structured learning, influential expert mentoring, and wraparound support. Social Ark also delivers bespoke social enterprise learning that enables school-aged children engage in meaningful social action.

Our trustee board is lived experience-led, and collectively, they share many of the same lived experiences as our beneficiaries. Two of our 6 trustees are service users, and we also have a dedicated youth board consisting of young people who have been through our programmes. These young people meet regularly and lead on co-design, helping to shape and steer our work.

Our business learning programmes have been co-designed by our alumni, creating universal, accessible, and easy-to-understand programmes. These tried and tested programmes work for all backgrounds and educational experiences. Young people receive high-quality learning that builds on their assets and talents, ensuring they become more confident and ‘tender-ready’ for business, funding, and other opportunities.

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Our beneficiaries experience intersecting social and economic barriers, including poverty, prejudice and social exclusion. We’ve found that, no matter how determined they are, young people often come to us with personal issues and ‘baggage’ that weigh them down, hold them back, and prevent them from moving forward. We help young people take control of their lives, focus their talents and expertise on improving them, and tackle the social issues that matter to them.

Our Programming:

The Step-Up Programme offers exceptional group and peer learning, personalised support, and expert mentoring. Experts in their respective fields deliver sessions. For example, leadership and pitching sessions have been delivered by expert David McQueen, and finance sessions have been conducted by qualified accountant Antonio Dos Santos. Sessions cover everything needed to develop and sustain a social business, including piloting, business planning, financial management, monitoring, evaluation, marketing, and other relevant training. Thanks to funding provided by LLDC -London Legacy Development Corporation and the East End Community Foundation (EECF), 17 young people participated in the programme and secured grants of £1000 each. Step-Up has been running annually for six years; the programme is accessible and inclusive and provides wrap-around support for young people wanting to enter the sector. The Social Ark team and mentors delivered 20 weekly 3-hour learning workshops for 17 dedicated young entrepreneurs. The young entrepreneurs went on to deliver projects in their communities and host events and workshops in schools and across London.

“The Step-Up programme has expanded my network and created an environment to try, fail and learn safely. It’s been a gamechanger for me, as I have learned so much about the world of business, especially social entrepreneurship. Even though the programme is coming to an end, the relationships and connections I have formed here (including my incredible mentor) will continue to take my business to new heights. The bid writing sessions and associated one-to-one support have been invaluable and helped me secure £28,000 in grant funding”. Participant.

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Culture Exchange 2024-2025- Funded by Foundation For Future London as part of the Westfield East Bank Creative Futures Fund.

Social Ark designed and led a Culture Exchange in which young East Londoners and young people from Bradford and Nottingham learned new social enterprise skills. The project involved 45 young people who gained paid work experience and established their own micro-social enterprises. The Project focused on utilising the social enterprise model to create systems change impacting the very systems the majority of the young people we serve have been involved in and affected by. The project will end with a film screening of the young people’s learning journey, with insights from their perspective, with the participants hosting Social Ark TV across the three cities we visited. The film ‘This Is The Process’ was produced and directed by Marlon Rouse Tavares and showcased in the Olympic Park.

Here is a snapshot of the impact and outcomes we achieved.

45 young people participated in the program and gained paid work experience.

18 Apple iPads were provided to ensure digital inclusion throughout the programme.

Over 20 weeks, the young people received an average of 2.5 hours of tailored mentoring per week.

16 received £1000 grants for community-based projects and developed their creative practices and personal development.

Of our young participants, 90% said they have improved confidence in their creative practices and are considering implementing entrepreneurship in their work.

95% reported increased confidence in their potential and self-initiative.

100% have raised aspirations for their futures.

2 young people have become Social Ark Youth Board members.

As a result of the programme, two young people have restarted further education. Three have gained sustainable employment. The remainder are exploring their own creative development and setting up micro-social enterprises.

“ When I first came into the programme, I didn’t know what to expect, but when I left, I realised what I wanted to do with myself, and since the programme ended, I used the grant to gain qualifications, and now I support young people with adverse behavioural needs.” Participant

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The National Lottery Community Fund (TNLCF) ‘Young East London Lived Experience Leaders’: August 2021 saw Social Ark awarded multiyear funding of £300,000 over 3 years. This core funding supports salaries and enables us to run the organisation. The outcomes we hoped and set out to achieve 300 young people benefit over 3 years (100 per year). The aim is for all young people to report improvements in confidence, skills and self-belief. 80 will establish social enterprises as companies, community groups or HMRC-registered sole traders. A further 90 will move into employment, apprenticeships, or further education. This core funding has enabled us to focus on supporting young people and achieving our goals. This funding concluded in December 2024.

Boys Mean Business: Through our continued partnership with the Hiscox Foundation, we can run our three-year empowerment programme, ‘Here Come the Girls’. Starting in 2021, the ‘Here Come the Girls’ social enterprise project aims to impact 180 girls over 3 years positively. So far are on track with those numbers and have reached 150 girls. This programme saw boys from the same school telling us that they wanted the same opportunities as the girls; they said they wanted ‘equality’. We worked with them to co-design a new “Boys Mean Business” social enterprise programme, which began in November 2024.Developed in response to student requests for a male-focused version that mirrors the original girls' programme while placing additional emphasis on respectful conversation, leadership skills, resilience, respectful interactions with the opposite gender and what it means to be a values-driven young man.

This was delivered by the Social Ark team, and guest speakers presented as relatable role models. With a strong focus on self-presentation, they were encouraged to show up as young men who “mean business.” They gained valuable life skills, such as accountability, public speaking, and handling challenging conversations, as well as tools to support their futures.

This included trips to Trinity Hall, Cambridge university, to engage with the Social Innovation Team, and to Hiscox HQ. Hiscox, a global insurer supporting innovation, generously funded the programme and provided mentors from HR, finance, and how to write a CV that equips the boys with the tools for the real world.

“ The Boys Mean Business programme was a transformative experience for both the students and me. This programme blended social development, entrepreneurial thinking, and cultural awareness, helping the boys recognise and harness their unique strengths. Through interactive sessions from business planning challenges to discussions on resilience and identity, the boys have grown in confidence, teamwork, and self-awareness. Many initially doubted their potential to actually create a business idea, but by the end, they were pitching ideas, leading group tasks, and supporting each other’s growth. The programme’s emphasis on real-world skills, like financial literacy and public speaking, has given them tools they’ll use far beyond the classroom. For me, the workshop reinforced how vital it is to create spaces where boys feel able to grow and be ambitious. seeing them embrace challenges like designing a social enterprise or discussing ethical leadership taught me just how much young people thrive when expectations are high and support is

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unwavering. I had an amazing experience with the program and the team members, who welcomed me warmly and made me feel like a valued part of their team, are truly an asset to the organisation. Their kindness and support made my time here memorable and enjoyable .” – Behaviour Officer Mr Daren Durant, Prendergast Vale School .

Continued Personal Development Programme – Ongoing Family Support : At Social Ark, we have an open-door policy, meaning beneficiaries can come and go and get help as and when needed. The young entrepreneurs choose to remain part of the Social Ark family, accessing ongoing guidance, and in return, they peer-mentor newcomers. They have told us that our reliable support is vital to their personal development, well-being and enterprises. Alumni stay involved, are prioritised for paid employment opportunities, and support us in co-designing programmes, filling back-office roles, and facilitating expert sessions. We pride ourselves on being a family, sharing the same values and journey, empowering and uplifting one another.

Wraparound Support: An integral part of our work is 1:1 support, often out of hours and goes hand in hand with supporting marginalised young people. Often, our young people can only turn their lives around and showcase transformational outcomes due to intensive behind-thescenes support. Sometimes, we help young people who have been involved in gangs and grooming, are victims of violent crime or are at risk of suicide. A consistent and trusted professional is available every step of the journey; we also work with specialist external providers to ‘handhold’, ensuring young people are supported with any issues they may have, enabling them to go on and thrive.

Headley Trust: In October 2024, we were thrilled to receive £15,000, part

of a three-year grant totalling £45,000 from the Headley Trust, specifically for developing social enterprises led by young people in East London. This flexible funding gave us the funds available to support individuals as needed, which helped our young entrepreneurs overcome the challenges of running a business. We distributed £15,000 in 18 grants, with an average grant of £800. Below are some examples of how these grants supported young people:

“With the grants I have received, I have acquired essential tools and materials to support my creative endeavours, including a label printer, a diverse collection of beads, rhinestones, and an Apple Pencil. These resources have empowered me to start my own business, where I create various handmade items that reflect my unique style and dedication to craftsmanship.” Participant.

“The grant support helped me build a team and establish proof of concept. I bought equipment and gained all the qualifications I needed to get Belong Kick off the ground. I’m now a flourishing young leader.” Participant.

“The grant helped me to put on an event to establish proof of concept, it also allowed me to make a short video, which I’m using for marketing, and it’s actually led to me securing more Funding.” Participant.

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Mentoring: Each beneficiary is matched with mentors: an industry expert to help them deliver their ideas, a corporate mentor to share business knowledge and skills, and an alumni peer mentor. Our mentors include individuals from corporate backgrounds, private business owners, community support experts, and experts by experience, such as ex-offenders and others with the life experiences required to influence others. 2023-2024 was the strongest year for mentoring; we implemented a new strategy that included a step-by-step mentoring and goalsetting guide, which both mentor and mentee said helped structure the mentoring with clear objectives, goals and expectations.

Diversity and Inclusion and Community Engagement Training/Consultation : Bespoke sessions for corporates, co-designed and delivered by our alumni, who are respectfully paid as the experts they are. The facilitators are Social Ark entrepreneurs from all backgrounds and walks of life. Sessions involve sharing lived experiences about structural racism and sensitising participants to concepts of privilege, power, biases, and othering. These bespoke workshops give corporate employees an insight into grassroots social entrepreneurs' lives, affirming their passion and purpose through thought-provoking activities and reaffirming that their contributions to under-resourced communities are needed and valued. In 2023-2024, we were also commissioned to deliver a community consultation on ‘safer spaces’ for the Foundation for Future London, working with 40 community grassroots organisations.

c. Contribution Made by Volunteers

Social Ark values and recognises that volunteering is at the core of its work. Beneficiaries are matched with mentors: an expert in their field and a peer mentor. Our expert volunteers and mentors deliver 1:1 mentoring and, at times, custom and engaging business workshops; topics include finance management, pitching and presenting, bid and proposal writing, digital knowhow, web design, social media, sales and marketing, risk management, safeguarding and more.

We work with driven people who have impressive track records, are experts in their specialist subjects, and can inspire, influence, and support our young people. We are proud to have such a varied network of professionals who share our values and champion our work. Mentors often support more than one young person at a time and collaborate to support one another’s mentees.

“My time on Step Up has been transformative for both my business and my personal development. The program provided invaluable resources, allowing me to refine my business strategy and enhance my leadership skills. I gained practical insights into financial management and marketing, which have directly contributed to my growth. Additionally, the collaborative environment fostered connections with likeminded entrepreneurs, creating a supportive network that continues to inspire me. Overall, StepUp has equipped me with the tools and confidence to navigate challenges and seize new opportunities.” Participant.

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We openly advertise volunteering opportunities and recruit through social media, corporations and other non-profit platforms. It is often the case that we gain new volunteers through our network of influential mentors and advisors; many referrals are made by word-of-mouth and personal recommendation. Social Ark volunteers remain at the core of everything we do; in addition to supporting our young entrepreneurs, volunteers also support the Social Ark core team with strategy, fundraising, HR, governance, bookkeeping, referrals and social media. We tailor all volunteering roles and support volunteers with safeguarding training, conducting DBS checks as and when required. We have worked with 35 volunteers between 2024 and 2025; these volunteer mentors provided over 180 hours of expertise and professional support for our young entrepreneurs.

Achievements and Performance

a. Our Impact

In addition to some of the impact documented in this report, from April 2024 – March 2025, Social Ark directly nurtured 37 social enterprises. Additionally, through our schools and community outreach, the Culture Exchange Project and our work with Prendergast Vale School, we have supported the development of over 450 young people. The young entrepreneurs’ business activities directly benefited London residents and spread the concept of social entrepreneurship and what it means to be socially conscious across our marginalised communities.

As a result of the Social Ark programmes, the entrepreneurs have gained many skills. In addition to the brilliant projects and start-ups they’ve created, below are some of the other benefits they have taken away from our programmes:

Some of the organisations created with our support:

Radojunkie Combat Academy: Andre combined his passion for professional fighting with his experience supporting young people to create a martial arts academy. Through Muay Thai, Radojunkie helps young people develop, stay active, and build confidence. Breaking down barriers to martial arts by operating in community spaces, running holiday camps, youth programmes, and working in schools.

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Belong Kick CIC

Amina is a 19-year-old from East London and the Founder and Director of the football social enterprise Belong Kick. Having faced her own challenges in school and college, where she lacked a sense of belonging and guidance, she is committed to creating a safe space that empowers young people both on and off the pitch. Belong Kick is now thriving and providing much needed inclusive sports activity for London youth.

The Digital Growth Hub

Driven by her lived experiences and a passion for creating meaningful change, Jessica founded The Digital Growth Hub, a social enterprise dedicated to bridging the digital divide and empowering individuals through digital literacy through intergenerational activities. With a mission to make the world a kinder place, this platform fosters connection, inclusivity, and personal growth, allowing people from all walks of life to share their stories and learn from one another.

We are extremely proud to have been recognised for the following:

b. Key Financial Performance Indicators : We have 3-6 months of reserves as such. We are looking to develop a set of key metrics to ensure the charity is achieving its objectives.

Financial Review. Going Concern: The trustees make this assessment in respect of a period of at least one year from the date of authorisation for the issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern; thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Structure, Governance and Management

a. Constitution

Social Ark has a Constitution of a Charitable Incorporated Organisation and is registered with the Charity Commission (Charity number: 1188519). The principal object of the Charity is to act

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as a resource for young people up to the age of 30 living in London and the surrounding areas by providing advice and assistance and organising programmes of physical, educational, and other activities.

b. Management Structure

Social Ark has a charitable board of 6 trustees. Collectively, trustees have lived experience of the issues faced by our beneficiaries. We currently have two alumni trustees, one of whom is our Chair, and play a vital role in shaping our work. The skills of our trustees include Law, Leadership, Safeguarding, Finance and Funding, Diversity and Inclusion, Community Building, and Impact Measurement. The Social Ark CEO reports back to the board of trustees. The CEO supports and works closely with the project administrator, support worker, project facilitators and volunteers. The administrator and support worker report to the CEO every week or more often if required. At least two trustees agree upon financial decisions.

c. Method of Appointment or Election of Trustees

The management of the Charity is the responsibility of the Trustees, who are elected and coopted under the terms of the Trust deed.

Statement of Trustee Responsibilities

The Trustees are responsible for preparing the Strategic Report, the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of application of resources, including the income and expenditure, of the group for that period.

In preparing these financial statements, the Trustees are required to:

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The Trustees are responsible for keeping adequate accounting records that are sufficient to show 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 financial statements 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.

Financial statements are published on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity’s website is the responsibility of the trustees. The trustees’ responsibility also extends to the ongoing integrity of the financial statements contained therein.

In so far as the trustees are aware:

Approved by the Board of Trustees

Dated: 20/01/2026

Signed:

Jasmine Singh - Chair of the Board

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Independent Examiner’s Report

I report to the trustees of Social Ark (Charity No 1188519) on the accounts for the period ended 31[st] March 2025.

Respective Responsibilities of the Trustees and the Independent Examiner

The Charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed.

It is my responsibility to:

Basis of Independent Examiner’s Statement

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner’s Statement

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

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I have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.

Jaz Notay ACMA CGMA BEng (Hons) The Veritas Finance Group Ltd 26th July 2025

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Statement of Financial Activities

For the period ended 31[st] March 2025

Notes
Income From:
Donations & Legacies
2
Charitable activities
3
Other trading activities
Investments
Other
Total Income
Expenditure on:
Raising Funds
4
Charitable activities
Other trading activities
Other
Total Expenditure
Net Movement in Funds
Reconciliation of Funds
Total funds brought forward
Total Funds carried forward		 Unrestricted
Funds
Restricted
Funds
Total 2025
Total 2024
0
74,990
74,990
183,300
0
209,008
209,008
250,000
0
0
16,347
0
0
0
0
0
283,998
283,998
449,647
0
0
0
4,173
8,646
309,727
318,374
392,973
921
0
921
0
0
0
9,567
309,727
319,294
397,147
(9,567)
(25,729)
(35,296)
52,500
37,082
84,669
121,751
69,251
27,515
58,941
86,456
121,751

The statement of financial activities includes all gains and losses recognised in the year

All income and expenditure derive from continuing activities

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Balance Sheet

As at 31st March 2025

----- Start of picture text -----
2025 2024
Notes £ £ £ £
Tangible Fixed Assets 5 5,828 9,955
Current Assets
Other Debtors 1,428 14,228
Cash at Bank 79,110 155,157
80,538 169,385
Creditors: amounts falling due within one year 6 89 (57,589)
Net Current Assets 80,627 111,796
Total Net Assets
86,456 121,751
The Funds of the Charity
Restricted Funds 7 58,941 84,669
Unrestrcited Funds 27,515 37,082
86,456 121,751
----- End of picture text -----

The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the Board of Trustees

Dated:

Signed:

Jasmine Singh, Chair of Board

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Notes to Financial Statements

1. Accounting Policies

Basis of preparing financial statements

The financial statements of the charitable company have been prepared in accordance with the Charities SORP (FRSSE) ‘Accounting and Reporting’ by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the provisions of FRS102 Section 1A Small Entities and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when the funds are raised for particular restricted purposes.

Further explanation of the nature and purposes of each fund is included in the notes to the financial statements.

2. Donations & Legacies

2. Donations & Legacies
Unrestricted
Funds		 Restricted
Funds		 Total 2025
74,990
0		 Total 2024
Grants 0 74,990 183,300
Legacies
Total 0 74,990 74,990
 183,300

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Material Restricted funds are broken down as follows:

Foundation Future 162,145.80
Main Grants 50,000.00
Hiscox 33,000.00
EECF 15,000.00
Headley Trust 15,000.00

3. Charitable Activities

3. Charitable Activities
Fundraising
Other
Total
4. Analysis of Expenditure
Raising Funds
Charitable activities
Other trading activities
Other
Total		 Unrestricted
Funds
Restricted
Funds
Total 2025
0
209,008
209,008
0
0
0
0
209,008
209,008
Unrestricted
Funds
Restricted
Funds
Total 2025
0
0
0
8,646
309,727
318,374
921
0
921
0
9,567
309,727
319,294		 Total 2024
250,000
16,347
266,347
Total 2024
4,173
392,973
0
0
397,147

5. Tangible Assets

5. Tangible Assets
Computer Office
Equipment Equipment Total
At Cost 10,613 4,320 14,933
Additions 1,276
Depreciation as at 31.03.24 0
Depreciation charge for the year 3,963 1,440 5,403
Net Book Value
As at 31.03.25 4,388 1,440 5,828
As at 31.03.24 7,075 2,880 9,955

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6. Creditors - amounts falling due within one year

Creditors
7.Restricted Funds
Restricted
Unrestricted		 2025
2024
(89)
57,589
(89)
57,589
Balance as at
1st April
2024
Income
Expenditure
84,669
283,998
(309,727)
37,082
0
(9,567)
121,751
283,998
(319,294)		 Balance as at
31st March
2025
58,941
27,515
86,456

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