FOR THE PERIOD 1 JANUARY TO 31 DECEMBER 2025 REGISTERED CHARITY NUMBER: 1189538, COMPANY NUMBER: 12579103
Grace Enterprises Annual Report 2025
CONTENTS
Introduction from the CEO
Page 3
Charitable Objectives
Page 4
2025 Highlights Page 5-6
Barriers to Work
Page 7
Employee Journey
Page 8-9
Our Employees
Page 10
Partnership Case Study
Page 13
Social Enterprise Spotlights
Page 14-19
2026 Priorities
Page 20
Wider Influence
Page 21
Key Partners & Supporters
Page 22-23
Reports and Accounts
Page 24-49
Living Life Index & Impact
Page 11-12
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LETTER FROM MATT, CEO
Grace Enterprises was founded in 2017 to tackle long-term unemployment - one of the biggest challenges facing UK society. Unemployment has a detrimental effect on the individual, on their relationship network, and on the wider community. The challenge of securing and sustaining work can be exacerbated for individuals who face major and/or multiple barriers to work, creating a vicious cycle which is hard to break free from.
Our pioneering social enterprises break this cycle. They offer supportive, real Living Wage work to people who might struggle to find and keep a job elsewhere. This employment provides opportunity for holistic change in individuals’ lives, and benefits their wider relationship networks and local communities — a sustainable solution to a prevalent societal challenge.
Got three minutes?
Watch this video explaining our work, created by the Centre for Social Justice.
2025 was a year of strengthening our foundations to help us grow in the next few years. We secured a longterm lease for premises for the next 10 years, ensuring that we can continue to consolidate growth. We installed a new state-of-the-art bakery. Our core team also grew by four, ensuring excellent services can be delivered across the enterprises. Finally, we won several awards recognising our work, including the Centre for Social Justice ‘charity of the year award’.
We’re thankful to all our supporters who have journeyed with us this year, and we’re excited to see what’s in store for our future!
Matt Parfitt Founder & CEO
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CHARITABLE OBJECTIVES
Grace Enterprises works for the relief of unemployment for the public benefit in the United Kingdom by:
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establishing and supporting subsidiary companies to provide ethical employment opportunities for the long-term unemployed and others facing barriers to work
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providing assistance to individuals seeking employment and ongoing support to those we employ
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influencing public policy and social attitudes towards the long-term unemployed and advocating the benefits of supportive employment
Grace Enterprises
Providing life-changing jobs through supportive employment in social enterprise businesses
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2017 2022 2023
Radiant Cleaners Jubilee Events Half the Story
launched launched launched
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2025 HIGHLIGHTS
In 2025, Grace Enterprises and its social enterprises won five awards!
Centre For Social Justice Award Crisis Homelessness Alliance 'Barrier Breaker' Award East Midlands Business of the Year Community Impact Award Private Business Awards Social Enterprise of the Year
Great British Entrepreneur Awards Sustainability Entrepreneurs
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We created
22,000+
hours of real Living
Wage work
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We welcomed 10 new team members across our social enterprises
Our core office team has also grown in 2025, helping us to continue creating more life-changing jobs.
Rachel has joined as Head of Business Development, Adam and Katie have joined the Comms team, and Andrew is Operations Director at Half the Story.
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Rachel Adam Katie Andrew
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CELEBRATING OUR NEW BAKERY
As well as securing a long-term lease on our premises in Wilford, 2025 saw a major upgrade to our Half the Story bakery.
We had a new, purpose-built bakery kitchen installed, which significantly increases our capacity.
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7X
bigger
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“Beautiful! We have space to dance around the kitchen!”
The new bakery space will allow for up to 20 bakers working at any one time, making space for even more life-changing jobs.
We’re grateful to all of the amazing partners and funders who helped make this bakery upgrade possible.
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BARRIERS TO WORK
82% of our 2025 employee team have faced major barriers or some barriers to work.
82%
In the UK, 10.86 million people are either unemployed or ‘economically inactive’.
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Those barriers include:
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31% 23%
English as a second Homelessness
language
15% 15%
In trouble with Drug misuse
police
13% 12%
Domestic Alcohol misuse
violence
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23%
Disability
16%
Refugees
10%
Learning
difficulties
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44%
of employees have struggled with mental health challenges
“I had depression. I came to the UK, and I couldn’t talk to many people, my mind was very closed. I was shy and my English was very bad.
Radiant Cleaners helped me open my mind... Now I am happy, I don’t have depression anymore.” Radiant Cleaners team member
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EMPLOYEE JOURNEY
Every story of returning to work is unique.
Some employees apply directly. Some are referred by trusted organisations. Sometimes finding employment may happen alongside a journey of recovery.
Richard is a fictional employee, but his journey represents the real experience of our employees. The quotes come from various actual employees.
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APPLYING
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Richard is experiencing major barriers to work.
He applies for a job in one of our businesses.
He has access to support and signposting. He attends an informal interview and has a work trial.
“I hadn’t worked properly in 27 years.
In the interview I was so quiet, I thought I wouldn’t get the job.”
“I had been given a sense of hope after my initial conversations with them. It was really refreshing not to be tied to the same old stereotypes that people hold about people in addiction.”
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ONBOARDING
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WORKING
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Great news! Richard was a good fit for the role and begins his job in a GE business.
Richard is now in post and continues to have LLRs and mentoring, plus Professional Development Reviews.
He attends his first Living Life Review (LLR) to set short-term and long-term goals. He is also offered regular meetings with a mentor.
His working milestones are celebrated and he is invited to team social events.
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“It’s lovely. I’ve met a few friends. People who I can sit down after my shift and have a coffee with.”
SETTLING IN
Now that Richard is working steadily, he has regular LLRs to reflect on his wellbeing and receive holistic support and signposting.
PROGRESSING
Richard is getting on well and can take advantage of opportunities like increased hours, more responsibility, or maybe a move into a role in a different GE business.
"I felt genuinely supported through regular one-to-one sessions, a mentor... staff who seemed truly invested in my personal and professional growth."
MOVING ON
Richard is working towards personal goals, engaging in community and finding selfinitiated support. He’s considering his career future — either at a GE business or further employment elsewhere.
“When I started I was around three years into abstinence-based recovery. However, over the next year and a half, I struggled and moved in and out of recovery. Grace Enterprises played a pivotal role in helping me return to full recovery.”
“I am currently in fulltime employment doing a job I love. I achieved a First for my undergraduate degree, and I'll be starting my Master’s in October. Grace Enterprises was undoubtedly a major part of making this possible.”
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OUR EMPLOYEES
“The best bit about working at Radiant Cleaners is you know there is a team around you and you are liked and appreciated for what you do.”
60 employees in 2025
138 employees (all time, as of Dec 2025)
93% of our employees strongly agree or agree with this statement: “working for a Grace Enterprises business positively impacts my life.”
Mentoring
As well as holistic in-work support, every employee has the option to access mentoring. We have a team of volunteer mentors who offer additional 1:1 encouragement and support.
25% of employees met regularly with a mentor in 2025
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LIVING LIFE INDEX
Our Living Life Index (LLI) enables us to effectively support staff throughout their employment.
In regular one-to-one reviews, we help employees to reflect on various areas of their life.
It’s one way of ensuring that those with barriers to work continue to thrive holistically and move forward.
Through our LLI we can:
Facilitate transformation through reflection, action-planning and signposting.
Monitor transformation holistically to measure our social impact.
Increase our effectiveness at
transformation by providing insights to improve our employment model.
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Physical PurposE
Health
Mental
Health
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Living Life Index
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Relationships
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Finances
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Hope
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Self Esteem
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autonomy
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A N N U A L R E P O R T 2 0 2 4 Housing
Workplace Skills Drugs and transferable Alcohol skills
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WHOLE LIFE IMPACT
Our team conducts Living Life Reviews with new employees and then every six months.
This allows each employee to regularly reflect on their growth, challenges and future plans — and helps us to provide tailored support.
It also gives us a helpful overview of the ways that our employees are seeing benefit in their lives.
This chart shows the scores for one real employee. The purple scores show their initial LLI results, and the yellow shows the increase after six months.
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+
30%
Overall increase
█ Start of Employment
█ 6 Months Later
x2
Physical PurposE
Health Increase in self
esteem
Mental
Hope
Health
Relationships
Self Esteem
Finances
autonomy
x2
x2
Housing
Workplace
Skills
Drugs and transferable
Alcohol skills
Increase in
Increase in
workplace
financial
skills
security
8
6
4
2
0
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BALFOUR BEATTY CASE STUDY
2025 marked a new milestone for Grace Enterprises.
Balfour Beatty built a new major footbridge in Nottingham — and became the first organisation to work with all three of our social enterprises!
Radiant Cleaners provided ongoing cleaning services for the cabins on the construction site.
The Jubilee Events team supplied marquees and furniture for an event at the new footbridge site.
And Half the Story provided biscuits for their sustainability conference.
“This achievement isn’t about numbers. It’s about people... Balfour Beatty plc became the first business to procure goods and services from all three social enterprises run by Grace Enterprises — a powerful demonstration of how procurement can drive social change.” Michelle Mann, Social Impact Advisor for Balfour Beatty
1,800 biscuits eaten
576
hours of supportive employment created through this partnership!
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Half the Story creates employment for people with major barriers to work, through making, baking and packing handmade biscuits.
Started in partnership with the charity Green Pastures, we agreed there would be a focus on employing people who have experienced homelessness.
Our life-changing biscuits launched at the national Social Value Conference in 2023, and the new business adventure began. Sodexo were an early adopter, and the Labour Party Conference was the first event to feature our biscuits.
In 2025, Half the Story moved into a brand new, bigger bakery space and launched a partnership with EMR that saw our biscuits on their new fleet of trains.
“Over the past year, we’ve been purchasing Half the Story biscuits. A simple choice that’s helped support the creation of two jobs for individuals facing barriers to work. 🫶
It’s a great reminder that everyday decisions can have a real impact. Behind each biscuit is a person, a story, and an opportunity to build confidence, skills and stability through meaningful employment.”
Chloe Mann — Eurest
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Award
Winner
21
834,000 9,261
employees in 2025 biscuits baked hours of real Living Wage
work
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MEET A HALF THE STORY TEAM MEMBER
E moved to the UK with her family seeking asylum. Back home she had worked in health and safety.
“My life in my country was good because we were workers. But we needed to get out of my country; it was a very difficult decision, but we had to go.”
Two years ago E’s family received right to remain status, meaning they had one month to find housing, and that she and her husband could look for work.
E heard about the housing charity Hope Into Action, who supported her family in securing housing and motivated her to apply for a job with Half the Story.
“If I didn’t receive this support my family would be in a homeless situation. I am so grateful to Hope into Action and Half the Story. It’s a new opportunity and a change for my life.”
At first E was scared because she felt her English wasn’t good.
“My family, we needed to look for a new job and a new house. This country was very difficult... different language and different culture.”
“My limit is English, but I’m happy to practice all day and the job gives me time to take my English classes.”
“This job gives a new start for my family.”
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Jubilee Events is a marquee hire social enterprise, providing premium marquees and equipment for parties, weddings, and corporate events.
Launched in 2022 to provide different kinds of work, it has grown to eleven employees in 2025, and expanded to provide multiple marquee sizes, furniture, and electrical equipment for a range of events.
2025 was an event-full year! We set up for the Schools National Regatta, and a high-profile engagement party for a Premier League footballer.
“Jubilee Events were so amazing to work with.
The team could not do enough for us and were so patient and understanding of our requirements.
I work in luxury events and sometimes it’s not easy ... but NOTHING was too much for these guys and I’m forever grateful.”
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Jayde Elise Events
11 35%+ 1,071
employees increase in workplace hours of real Living Wage
skills work
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MEET A JUBILEE EVENTS TEAM MEMBER
L joined the Jubilee Events team when his wife was on maternity leave with their second child.
“I had been a stay-at-home dad. I was looking for a job and a friend recommended Jubilee Events as a good fit for my skills.”
“It sounded like it would be a decent fit for me as a person, and the flexibility of being able to combine some work with my responsibilities at home. It was a good fit for our family.”
At first the role was “a bit of a learning curve. A bit different to what I’d been doing before.” But “doing things on site and being practical” helped him quickly settle in.
As well as being in the outdoors, L’s favourite part of the role is the team. “I like working with the people. People from different types of backgrounds and stages and situations in life.”
“Doing an honest day’s hard work is good, when you’re working alongside other people.”
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Radiant Cleaners was our first social enterprise, founded in 2017 to provide excellent cleaning services across Nottingham. It is also our biggest, with a team of 28 employees.
Radiant Cleaners provides awardwinning commercial cleaning services to offices, construction sites and community spaces across Nottingham.
2025 was a year of stable growth, bringing in new partnerships with local businesses and organisations including Notts County Foundation and Lindum.
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“Just wanted to say that X has been amazing over the last few
weeks, she is very positive and is always asking if there’s
anything else to do before she leaves for the day. She is an
asset to the team.”
Priti Ghale
Notts County Foundation
28 42 11,888
current Radiant Cleaners cleaning customers hours of real Living
employees Wage work
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MEET A RADIANT CLEANERS TEAM MEMBER
“I used to be a carer for my brother. Then I had to get back into work.”
J knew about Radiant Cleaners through Grace Church Nottingham. So when she was looking for a job they were her first port of call. “They said we can get you sorted and I’ve been up and running since then. Two years on.”
On starting the new role, J said, “It’s always hard at first, isn’t it? Because I didn’t know what I was doing and where I was going. But they really made me feel at home, I kind of slotted into it like I’ve always done it.”
When health difficulties meant J needed to take time off, “they said, come back whenever you feel you can come back. There was no pushing back into the job. But I wanted to come back!”
J says the team at Radiant Cleaners is “dead easy to talk to. You can talk to people about anything, without judging.”
“They’re very understanding. It gets me out, gets me up. I love it.”
“If I’ve had any issues with my health or anything like that they’re very accommodating. Dead easy to talk to — a really good company to work for.”
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2026 PRIORITIES: MOVING ON
In 2025, employees moved on from a Grace Enterprises job. Five left for another job, and five due to relocation or health 10 reasons.
For many employees, a job in a Grace Enterprises social enterprise may be their ‘forever job’, and for others it will be a stepping stone to further employment, education or training. Some may have had a career in their home country. Others may discover new skills and passions in the workplace that they want to pursue.
2026: Creating an ‘onwards pathway’
In our one-to-one support and mentoring sessions, we’re able to help employees with job applications, CV and interview preparation.
One of our priorities for 2026 is to formalise our process for helping employees ‘move on well’ — helping them achieve their long-term goals, and making space to create even more life-changing jobs.
Other priorities for 2026
Invest in our structure to drive growth in our social enterprises. Strengthen stakeholder relations to power future growth.
“The cleaning job helped me build strong timemanagement skills, discipline, and reliability, while also improving my ability to work effectively in a team.”
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2025 GRACE
ENTERPRISES
IMPACT REPORT
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WIDER INFLUENCE
As a pioneering organisation, we want to play an active role in bringing change to systemic issues. We believe the most significant and sustainable change comes from working in partnership with individuals and organisations across all areas of society. This year we:
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Hosted several open days across the year to inspire and equip others.
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Spoke at the Lloyds Bank Foundation conference about
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our hybrid charity-business model.
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Were published in articles in
Premier Christianity , Stewardship , and various other charity and sector publications.
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Joined our voice with the Crisis Homelessness Alliance .
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Appeared on GB News , BBC
-
Radio Nottingham and the Inspired Podcast talking about
homelessness and supportive employment.
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KEY PARTNERS
Grace Enterprises was launched by Grace Church Nottingham who continue to provide invaluable support.
Half the Story is a joint venture with Green Pastures , a pioneering housing charity.
We are proud to partner with the Living Wage Foundation , paying the real Living Wage across our social enterprises.
We are grateful for the influential work of Social Enterprise UK , championing social value and a fairer world.
Proud to work with:
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OUR SUPPORTERS
The Swann Foundation
“We thoroughly enjoyed our visit to the bakery this week and delighted to hear your staff enjoyed the goodie bags 🎅 We are so pleased we could donate this money to a wonderful enterprise.”
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Structure, Governance and Management
Nature of governing document:
Grace Enterprises Nottingham Ltd was incorporated as a company limited by guarantee (England & Wales) on 29 April 2020 (registration number 12579103) and is governed by its Articles of Association. This company is registered with the Charity Commission in England and Wales under reference 1189538, with the registration completed on 18 May 2020. It has no share capital and the liability of each member in the event of winding-up is limited to £1.
Small companies provision statement:
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Relationships with related parties:
The charity wholly-owns two trading companies called Radiant Cleaners Limited (company #11074139) and Jubilee Events Limited (company #13708047). Both companies are recognised as a social enterprise and have an asset-lock in place so that all profits will be re-invested in the company or gifted to Grace Enterprises. The charity also holds 50% of the voting rights in Half the Story LLP (company #OC448940), another registered social enterprise.
Objectives and activities:
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Trustees Phil Collinge (resigned 28 March 2026) Graham Bowpitt Selina Lee Duncan Miller (resigned 8 April 2026) Jeremy Dykes Lindsay Cressey (appointed 24 April 2025) Udeme Nkanga (appointed 24 April 2025) Joy Igbinnosa (appointed 24 April 2025) Joseph Agunbiade (appointed 24 April 2025) Steven Towler (appointed 24 April 2025)
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Trustee Responsibilities
The Trustees (who are also the directors of Grace Enterprises Nottingham Ltd for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.
Company law requires the Trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the ‘going concern’ basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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Financial Review
Financial Outcome & Reserves
For the 12 month period ending on 31 December 2025, Grace Enterprises Nottingham Ltd had a surplus of £43,204 (31 December 2024: £15,203). This resulted in funds carried forward of £90,967 (31 December 2024: £47,763).
Of the reserves held at period end, £90,967 were unrestricted in nature.
Financial Summary
Grace Enterprises’ principal source of funds comes through management fees from its trading subsidiaries. This is supplemented by grants from trusts and foundations, and support from independent donors.
The main expenditure includes salaries and the provision of holistic support for our beneficiaries.
Reserves Policy
The Charity aims to hold Reserves (unrestricted liquid assets that are not designated to any other purpose apart from as a reserve fund) that equate to between 3 and 6 months of the Charity’s salaries and fixed costs.
The Trustees believe that 3 months is the correct minimum level of reserves to protect the charity, and those who benefit from it, from the effects of the most likely financial risks. The Trustees have reached this conclusion because it would enable employees to be made redundant, paying them for their notice period and any Statutory Redundancy Pay to which they were entitled. Reduced operations could then be maintained by volunteers.
The Trustees believe that 6 months is the correct maximum level of reserves, because if more were held, this would unnecessarily tie up donors’ money.
At 31 December 2025 the reserves were slightly below the lower limit, so the Trustees have approved budgets which would restore reserves to the level dictated by the policy in the next financial year.
The Trustees monitor the level of the Trust’s Reserves on a bi-monthly basis. The Trustees review the Reserves Policy on an annual basis and whenever a major change is made to the Risk Register.
Approval & Authorisation
This report was approved and authorised for issue by the Board of Trustees on 9 July 2026 and signed on its behalf by:
Lindsay Cressey Chair of Trustees
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GRACE ENTERPRISES NOTTINGHAM LTD
Independent Examiner’s Report
I report to the charity trustees on my examination of the accounts of Grace Enterprises Nottingham Limited (‘the Company) for the year ended 31 December 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your 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 Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Public Finance and Accountancy (CIPFA), 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 that in any material respect:
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1.Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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2.The accounts do not accord with those records; or
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3.The accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
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4.The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
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.
Eva Stevens, BSc, CPFA Date: 9 July 2026
Employee of Community Accounting Plus Member of the Chartered Institute of Public Finance and Accountancy (CIPFA)
Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
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GRACE ENTERPRISES NOTTINGHAM LTD
Accounts
Statement of financial activities
Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses
For the year ended 31 December 2025 (31 December 2024)
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Note [Unrestricted] Restricted Total Total
funds (£) funds (£) 2025 (£) 2024 (£)
Income and Endowments from:
Donations and legacies 2 275,500 - 275,500 121,271
Charitable activities 3 129,512 200,000 329,512 119,868
Investment income 5 2,621 - 2,621 706
Other income 6 - - - 2,215
Total income 407,633 200,000 607,633 244,060
Expenditure on:
Charitable activities 7 (364,429) (200,000) (564,429) (228,857)
Total expenditure (364,429) (200,000) (564,429) (228,857)
Net income /
-
43,204 43,204 15,203
(expenditure)
Net movement in funds 43,204 - 43,204 15,203
Reconciliation of funds
Total funds brought -
47,763 47,763 32,560
forward
Total funds carried
16 90,967 - 90,967 47,763
forward
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All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for the period is shown in note 16.
The notes on pages 32 to 47 form an integral part of these financial statements.
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Accounts
Statement of financial activities
Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses
These are figures for the previous accounting period and are included for comparative purposes.
----- Start of picture text -----
Unrestricted
Note Total 2024 (£)
funds 2024 (£)
Income and Endowments from:
Donations and legacies 2 121,271 121,271
Charitable activities 3 119,868 119,868
Investment income 5 706 706
Other income 6 2,215 2,215
Total income 244,060 244,060
Expenditure on:
Charitable activities 7 (228,857) (228,857)
Total expenditure (228,857) (228,857)
Net income/(expenditure) 15,203 15,203
Net movement in funds 15,203 15,203
Reconciliation of funds
Total funds brought forward 32,560 32,560
Total funds carried forward 16 47,763 47,763
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The notes on pages 32 to 47 form an integral part of these financial statements.
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Company number: 12579103
Accounts
Balance sheet
As at 31 December 2025
----- Start of picture text -----
Note 2025 (£) 2024 (£)
Fixed assets
Investments 9 2 2
Tangible assets 10 16,762 11,599
16,764 11.601
Current assets
Debtors 11 134,965 40,776
Cash at bank and in hand 12 122,100 134,823
257,065 175,599
Creditors: amounts falling due within
13 (72,042) (103,935)
one year
Net current assets 185,023 71,664
Total assets less current liabilities 201,787 83,265
Creditors: amounts falling due after
14 (110,820) (35,502)
more than one year
Net assets 90,967 47,763
Funds of the charity:
Unrestricted funds 90,967 47,763
Total funds 16 90,967 47,763
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The notes on pages 32 to 47 form an integral part of these financial statements.
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Company number: 12579103
Accounts
Balance sheet continued
As at 31 December 2025
For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors’ responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The financial statements on pages 28 to 47 were approved by the trustees, and authorised for issue on 9 July 2026 and signed on their behalf by:
Lindsay Cressey Chair of Trustees
The notes on pages 32 to 47 form an integral part of these financial statements.
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Accounts
1 Accounting Policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Notes to the financial statements
For the year ended 31 December 2025
Going concern
The financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
Basis of preparation
Grace Enterprises Nottingham Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The functional currency of the charity is GBP and amounts in the financial statements are rounded to the nearest £.
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Accounts
Exemption from preparing a cash flow statement
Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.
Notes to the financial statements For the year ended 31 December 2025
Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
Deferred income
Income and endowments
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement date.
In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met.
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
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Accounts
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Fixed asset investments
Fixed asset investments are measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and for which the fair value cannot otherwise be measured reliably.
Notes to the financial statements
For the year ended 31 December 2025
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Computer equipment: 25% straight line
Motor vehicles: 33% straight line Fixtures & fittings: 20% straight line
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
Tangible fixed assets
Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Accounts
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as noncurrent liabilities.
Notes to the financial statements
For the year ended 31 December 2025
Pensions and other postretirement obligations
The charity operates a defined contribution pension scheme, which is a pension plan under which fixed contributions are paid into a pension fund. The charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined
contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
| 2 Income from donations and legacies | 2 Income from donations and legacies | 2 Income from donations and legacies | 2 Income from donations and legacies |
|---|---|---|---|
| Unrestricted funds General (£) |
Total 2025 (£) |
Total 2024 (£) |
|
| Donations and legacies: | |||
| Donations from companies, trusts and similar proceeds |
55,890 | 55,890 | 485 |
| Donations from individuals | 24,003 | 24,003 | 27,786 |
| Gift aid reclaimed | 6,424 | 6,424 | - |
| Grants, including capital grants: | |||
| Grants from other charities | 189,183 | 189,183 | 93,000 |
| 275,500 | 275,500 | 121,271 |
3 Income from charitable activities
| Unrestricted funds General (£) |
Restricted funds General (£) |
Total 2025 (£) |
Total 2024 (£) |
|
|---|---|---|---|---|
| Management fees | 109,342 | - | 109,342 | 117,827 |
| Other income | 20,170 | - | 20,170 | 2,041 |
| Grants | - | 200,000 | ||
| 129,512 | 200,000 | 329,512 | 119,868 |
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
| 4 Grants & donations | |||
|---|---|---|---|
| Unrestricted Funds (£) |
Restricted Funds |
Total (£) | |
| Benefact Trust | 20,000 | - | 20,000 |
| The Bishop Radford Trust | 20,000 | - | 20,000 |
| The Randal Foundation | 30,000 | - | 30,000 |
| Rank Foundation | 71,142 | - | 71,142 |
| The Laing Family Trusts | 8,000 | - | 8,000 |
| Individual donations & gift aid |
36,427 | - | 36,427 |
| Corporate donations | 55,890 | - | 55,890 |
| Church donations | 409 | - | 409 |
| Macaulay Moat Foundation | 5,000 | - | 5,000 |
| KP Ladd Trust | 5,000 | - | 5,000 |
| The Fore | 4,000 | - | 4,000 |
| Saunderson Trust | 5,000 | - | 5,000 |
| Focus Foundation | 7,964 | - | 7,964 |
| National Lottery Community Fund |
6,668 | - | 6,668 |
| Lloyds Bank Foundation | - | 75,000 | 75,000 |
| Swann Foundation | - | 65,000 | 65,000 |
| Rocco Foundation | - | 35,000 | 35,000 |
| GCMCF | - | 25,000 | 25,000 |
| 275,500 | 200,000 | 475,500 |
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
| 5 Investment income | |||
|---|---|---|---|
| Unrestricted Funds General (£) |
Total 2025 (£) | Total 2024 (£) | |
| Interest receivable on bank deposits |
2,621 | 2,621 | 706 |
| 2,621 | 2,621 | 706 |
| 6 Other income | |||
|---|---|---|---|
| Unrestricted Funds General (£) |
Total 2025 (£) | Total 2024 (£) | |
| Income from trading subsidiary |
- | - | 2,215 |
| - | - | 2,215 |
The 2024 total relates to profits transferred by Radiant Cleaners to Grace Enterprises through the Gift Aid mechanism.
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
7 Expenditure on charitable activities
| Unrestricted Funds General (£) |
Restricted Funds (£) |
Total 2025 (£) |
Total 2024 (£) |
|
|---|---|---|---|---|
| Salaries, NI & pensions | 271,776 | - | 271,776 | 179,841 |
| Staff travel & subsistence | 7,471 | - | 7,471 | 6,246 |
| Staff training & development |
917 | - | 917 | 397 |
| Staff wellbeing | 959 | - | 959 | 320 |
| Professional services - finance & legal |
23,425 | - | 23,425 | 15,287 |
| Depreciation | 3,550 | - | 3,550 | 1,464 |
| IT costs | 1,968 | - | 1,968 | 1,352 |
| Marketing & PR | 1,707 | - | 1,707 | 934 |
| Premises costs | 43,217 | - | 43,217 | 16,450 |
| Office equipment | 576 | - | 576 | 133 |
| Communications | 1,949 | - | 1,949 | 1,464 |
| Bank charges & loan interest |
3,099 | - | 3,099 | 2,680 |
| Sundry expenses | 12 | - | 12 | 18 |
| Uniforms | - | - | - | 58 |
| Printing, postage & stationery |
290 | - | 290 | 355 |
| Insurance | 527 | - | 527 | 1,070 |
| Motor vehicle expenses | 2,986 | - | 2,986 | 788 |
| Grants made | - | 200,000 | 200,000 | - |
| 364,429 | 200,000 | 564,429 | 228,857 |
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
8 Staff Costs
The aggregate payroll costs were as follows:
| Total 2025 (£) | Total 2024 (£) | |
|---|---|---|
| Staff costs during the year were: | ||
| Wages and salaries | 248,772 | 166,755 |
| Social security costs | 17,665 | 9,367 |
| Pension costs | 5,339 | 3,719 |
| 271,776 | 179,841 |
The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| Average numbers of employees | 10 | 7 |
10 (2024 - 7) of the above employees participated in the Defined Contribution Pension Scheme.
Contributions to the employee pension schemes for the year totalled £5,339 (2024 - £3,719).
No employee received emoluments of more than £60,000 during the year.
The total employee benefits of the key management personnel of the charity were £108,248 (2024 - £87,821).
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
9 Fixed asset investments
| 9 Fixed asset investments | ||
|---|---|---|
| Shares in group undertakings and participating interests: |
Subsidiary Undertakings (£) |
Total (£) |
| Cost | ||
| At 1 January 2025 | 2 | 2 |
| At 31 December 2025 | 2 | 2 |
| Net book value | ||
| At 31 December 2025 | 2 | 2 |
| At 31 December 2024 | 2 | 2 |
Details of undertakings
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital or voting rights are as follows:
| Undertaking | Country of incorporation |
Holding | Proportion of voting rights and / or shares |
Proportion of voting rights and / or shares |
|---|---|---|---|---|
| Subsidiary Undertakings | 2025 | 2024 | ||
| Radiant Cleaners | England & Wales | Ordinary share | 100% | 100% |
| Jubilee Events | England & Wales | Ordinary share | 100% | 100% |
| Joint Ventures | 2025 | 2024 | ||
| Half the Story LLP | England & Wales | Designated Member |
50% | 50% |
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Notes to the financial statements
For the year ended 31 December 2025
Accounts
Subsidiaries
The above investments reflects a 100% holding in the ordinary share capital of Radiant Cleaners Limited (company number: 11074139) and Jubilee Events Limited (company number: 13708047). Both have their registered office as 1 Castle Boulevard, Nottingham, NG7 1FT.
Grace Enterprises Nottingham Limited is exempt from producing consolidated financial statements as the consolidated income figure across the group is below £1m.
Radiant Cleaners’ principle activity is to see lives transformed through supportive employment, using commercial cleaning as the particular vehicle. The loss for the financial period of Radiant Cleaners was £5,574 (2024 - profit of £2,050) and the aggregate amount of capital and reserves at the end of the period was £33 (2024 - £7,823).
Jubilee Events’s principle activity is to see lives transformed through supportive employment, using marquee hire and event management as the particular vehicle. The loss for the financial period of Jubilee Events was £4,964 (2024 - loss of £1,306) and the aggregate amount of capital and reserves at the end of the period was £(4,307) (2024 - £657).
Joint Ventures
Grace Enterprises Nottingham Limited is a Designated Member of Half the Story LLP (company number: OC448940), holding 50% of the voting rights. Its registered office is 1 Castle Boulevard, Nottingham, NG7 1FT.
The principal activity of Half the Story is to see lives transformed through supportive employment, using biscuit baking as the particular vehicle.
The loss for the year ended 31 March 2026 for Half the Story was £127,285 (31 March 2025: loss of £175,720).
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
----- Start of picture text -----
10 Tangible fixed assets
Fixtures & Motor Computer
Total (£)
fittings (£) vehicles (£) equipment (£)
Cost
-
At 1 January 2025 11,034 2,029 13,063
Additions 7,920 - 2,772 10,062
Adjustment on VAT -
(1,839) (140) (1,979)
registration
At 31 December 2025 7,920 9,195 4,661 21,776
Depreciation
At 1 January 2025 - 1,379 85 1,464
Charge for the year 396 2,299 855 3,550
At 31 December 2024 396 3,678 940 5,014
Net book value
At 31 December 2025 7,524 5,517 3,721 16,762
At 31 December 2024 - 9,655 1,944 11,599
----- End of picture text -----
The adjustment relates to a reduction in cost following VAT registration, resulting in a recalculation of the assets.
| recalculation of the assets. | ||
|---|---|---|
| 2025 (£) | 2024 (£) | |
| 11 Debtors | ||
| Due from group undertakings | 55,528 | 39,034 |
| Prepayments | 28,617 | 1,742 |
| Other debtors (lease deposit) | 50,820 | - |
| 134,965 | 40,776 | |
| Debtors includes £74,820 (2024: £Nil) receivable after more than one year. | ||
| Due from group undertakings* | 24,000 | -- |
| Other debtors (lease deposit) | 50,820 | - |
| 74,820 | - |
- A Deed of Waiver was signed on 8 June 2026 to release the £24,000 due from Radiant Cleaners.
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
| N For Accounts |
otes to the fin the year ended |
ancial statements 31 December 2025 |
|---|---|---|
| 2025 (£) | 2024 (£) | |
| 12 Cash and cash equivalents | ||
| Cash at bank | 122,100 | 134,823 |
| 2025 (£) | 2024 (£) | |
|---|---|---|
| 13 Creditors: amounts falling due within one year | ||
| Trade creditors | 2,930 | 1,795 |
| Other loans | - | 9,055 |
| Due to group undertakings | - | 968 |
| Other taxation and social security |
15,935 | 3,350 |
| Other creditors | 1,210 | 715 |
| Accruals | 12,134 | 12,052 |
| Deferred income | 39,833 | 76,000 |
| 72,042 | 103,935 |
| 2025 (£) | 2024 (£) | |
|---|---|---|
| 14 Creditors: amounts falling due after one year | ||
| Other loans | 110,820 | 35,502 |
Other loans
Stewardship Services with a carrying amount of £110,820 (2024 - £Nil) is denominated in Sterling. The first instalment is due on 17 August 2027. Interest of £150 per month payable in the first 24 months after the drawdown, then interest and capital to be repaid over the remaining 3 year period.
Thrive loan (2024: £43,557) was fully repaid 7 July 2025.
Green Pastures loan (2024: £1,000) was fully repaid 28 January 2025.
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
15 Obligations under leases
| 15 Obligations under leases | 15 Obligations under leases | 15 Obligations under leases |
|---|---|---|
| Operating lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: 2025 (£) 2024 (£) |
||
| 2025 (£) | 2024 (£) | |
| Land and buildings | ||
| Within one year | 42,350 | - |
| Between one and five years | 149,990 | - |
| 192,340 | - |
| 16 Funds | ||||
|---|---|---|---|---|
| 2025 | Balance at 1 January 2025 (£) |
Incoming resources (£) |
Resources expended (£) |
Balance at 31 December 2025 (£) |
| Unrestricted funds | ||||
| General | ||||
| General fund | 47,763 | 407,633 | (364,429) | 90,967 |
| Restricted funds | ||||
| Pass through grants |
- | 200,000 | (200,000) | - |
| Total funds | 47,763 | 607,633 | (564,429) | 90,967 |
| 2024 | Balance at 1 January 2024 (£) |
Incoming resources (£) |
Resources expended (£) |
Balance at 31 December 2024 (£) |
| Unrestricted funds | ||||
| General | ||||
| General fund | 32,560 | 244,060 | (228,857) | 47,763 |
The specific purposes for which the funds are to be applied are as follows: Pass through grants - grants received from Lloyds Bank Foundation, Swann Foundation, Rocco Foundation and GCMCF passed on to Half the Story.
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Accounts
Notes to the financial statements
For the year ended 31 December 2025
----- Start of picture text -----
17 Analysis of net assets between funds
Unrestricted Funds Total Funds 2025
2025
General (£) (£)
Tangible fixed assets 16,762 16,762
Fixed asset investments 2 2
Current assets 257,065 257,065
Current liabilities (72,042) (72,042)
Creditors over 1 year (110,820) (110,820)
Total net assets 90,967 90,967
Unrestricted Funds Total Funds 2024
2024
General (£) (£)
Tangible fixed assets 11,599 11,599
Fixed asset investments 2 2
Current assets 175,599 175,599
Current liabilities (103,935) (103,935)
Creditors over 1 year (35,502) (35,502)
Total net assets 47,763 47,763
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18 Fees Payable to Independent Examiner
During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:
| 2025 (£) | 2024 (£) | |
|---|---|---|
| Independent Examination |
1,030 | 1,000 |
| 1,030 | 1,000 |
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Notes to the financial statements
Accounts
For the year ended 31 December 2025
19 Taxation
The charity is a registered charity and is therefore exempt from taxation.
20 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
21 Related party transactions
The following transactions and balances arose with related parties of the charity during the year, disclosed in accordance with FRS 102 section 33 and Charities SORP (FRS 102) module 9.
(a) Management fees
During the year, the charity received management fees of £109,342 (2024: £117,827) from the two trading subsidiaries and one joint venture. These are calculated on a cost-recovery basis reflecting the actual costs incurred by the charity in providing shared services; no margin is applied.
(b) Trading subsidiary transactions
Other income from a trading subsidiary was £nil (2024: £2,215). At the balance sheet date, amounts due from group undertakings were £55,528 (2024: £39,034) and amounts due to group undertakings were £nil (2024: £968). Of the amounts due from group undertakings, £24,000 (2024: £nil) represents an unsecured, interest-free loan from the charity to Radiant Cleaners Ltd (RC) with no fixed repayment date, originally advanced in January 2023 in support of RC's primary purpose trading. The balance of £31,528 (2024: £39,034) represents short-term trading balances arising in the ordinary course of business between the charity and the subsidiaries.
On 8 June 2026, after the balance sheet date, the charity executed a deed of waiver releasing RC from the £24,000 loan in full (see note 11). The release will be recognised as charitable expenditure in furtherance of the charity's objects in the year ending 31 December 2026.
(c) Grants made to joint venture
During the year, the charity made grants of £200,000 to Half the Story LLP in fulfilment of donor restrictions on funds received from Lloyds Bank Foundation, Swann Foundation, Rocco Foundation and GCMCF (see notes 4 and 16).
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Legal and Administrative Information
Trustees
Graham Bowpitt Selina Lee Jeremy Dykes Lindsay Cressey Udeme Oton Nkanga Joy Igbinnosa Joseph Agunbiade Steve Towler
Senior Management Team
Matthew Parfitt (CEO) Roger Doxat-Pratt (COO)
Accountants
Beehive The Barn, Kings Newton Hall Main Street Kings Newton DE73 8BX
Independent Examiner
Eva Stevens CA Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL
Registered Address
1 Castle Boulevard Nottingham NG7 1FT
Charity Number
1189538
Company Number
12579103
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PARTNER WITH US
Donate to Grace Enterprises to help fund our life-changing supportive employment in 2026:
GET IN TOUCH
0115 698 0224
info@GraceEnterprises.co.uk
GraceEnterprises.co.uk
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A N N U A L R E P O R T 2 0 2 5
Registered charity number: 1189538
GRACE ENTERPRISES NOTTINGHAM LTD
Company number: 12579103
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