annual report 25126 ahead liv ## **Contents** The trustees are pleased to present their annual report, together with the financial statements of the charity for the year ended 31 March 2026 which are also prepared to meet the requirements for the Charities Act 2011 purposes. A letter from our Chair **1** Our Purpose & Activities Impact Who we support **2 8 12** Financial Review **14** Future Plans Structure & Governance **15 17** Reference & Administrative Details Independent Examiner’s Report Trustee’s Responsibilities **19 21 22** Statement of Financial Activities **23** ## **A letter from our Chair** The past year has been one of growth for Thread Ahead. Following the funding delays we experienced last year, it has been encouraging to see our financial position strengthen, demonstrating the charity's resilience and adaptability. One of the year's key achievements was the launch of our Lived Experience Advisory Board. Made up of current and former service users, the board works alongside our Lived Experience Trustee to ensure that the voices of those we support are heard and considered in trustee discussions and decision-making. We have also strengthened our relationships with partner organisations across the sector, collaborating to host large events and support campaigns that seek to improve the lives of people with insecure immigration status in the UK. The opening of our new showroom and office in central London has played an important role in this growth. Alongside our ongoing work in Rotherhithe, the new space has enabled us to host more events and create new opportunities for engagement and collaboration. We now work with more than 300 referral partners and hosted 20 events during the year, eight more than in the previous year. Expanding these partnerships helps us ensure that people attending our events can access high-quality essential items and support. Looking ahead, we also expect our new central London space to generate additional income, helping to strengthen the charity's long-term sustainability. As the impacts of the climate crisis become increasingly apparent, we remain committed to reducing waste and raising awareness of the importance of sustainability in the fashion industry. We also recognise the growing role that climate-related events play in driving displacement around the world. Throughout the year, we have continued to stand in solidarity with our visitors and volunteers in the face of racism and hostility directed towards asylum seekers and others with insecure immigration status. We remain committed to placing dignity and inclusion at the heart of our services. I am proud of the positive feedback and inspiring testimonials we have received from both visitors and volunteers, which reflect the dedication of our staff, volunteers, partners and supporters. **1** # **Our purpose & activities** ## **Our vision** ## **Our purpose** The relief of financial hardship amongst those granted refugee status and those seeking asylum, and their dependants living (temporarily or permanently) in the United Kingdom through the provision of items and services including (but without limiting the generality of the foregoing object) clothing and toiletries. ## **Our mission** Our mission is to provide people with insecure immigration status with access to items and services in a manner underpinned by our core value: dignity. This includes redirecting surplus clothing, toiletries and accessories away from incineration or landfill, offering these items to people with insecure immigration status at dignified events in high-end spaces. Thread Ahead envisions a world where migrants are welcomed and valued. We want to see an end to the cruel border regime and will continue to exercise solidarity with our charity partners who are actively campaigning towards this end. We want to see refugees and asylum seekers granted the right to work in the UK, the end of NRPF, and equal access to essential items and services, including clothing and toiletries. Thread Ahead also envisions a world in which sustainability is centred to ensure the planet's survival; a world where no company sends surplus stock to landfill or incineration, instead prioritising redistribution towards people in need. We want to see this change urgently, as the fallout of the climate crisis is already threatening life for many people living in the Global South. While the issues of climate and migration may appear separate, Thread Ahead recognises that they are directly linked - we are already seeing people forced to flee their homes due to climate change and this will continue to rise unless society finds a balance. **2** **Theory of change** Our mission is to redirect items away from incineration or landfill, thereby reducing waste; to offer these items to people with insecure immigration status in a dignified manner. ## **Our Foundations** People with insecure immigration status face barriers to good quality essential items, including clothing and toiletries. These barriers have implications in terms of people's dignity, confidence and mental wellbeing. We are living in a climate crisis and as the world's second largest polluter, the fashion industry must do more to reduce waste. ## **Services** ## **Short-Term Outcomes** Our community of visitors, volunteers and brand partners grows; new partnerships are formed, including with luxury brands. Additional services become available to visitors, including skills workshops and further wellbeing provisions. Visitors are provided with high-quality clothing and leave feeling that they have had a dignified experience. ## **Long-Term Outcomes** Thread Ahead leads conversations within the fashion industry around waste and migration, and the relationship between the two; this has wider impacts in terms of opportunities for people with insecure immigration status in the UK. Clothing waste is reduced across a range of brand partners. ## **Our Values** **Dignity** We are led by the views of our visitors; we provide outcomes beyond the relief of immediate material needs alone. ## **Sustainability** Resources are redistributed fairly to reduce waste; we work as sustainably as possible in all areas of our own work. ## **Inclusivity** Services are open to all people with insecure immigration status, regardless of country of origin, age, gender, race, ethnicity, sexuality, religion or disability. ## **Clothing events** The primary way in which we fulfil our mission is running clothing events at our showroom, where brand new items are redirected away from waste and offered to people with insecure immigration status. Our shop-like spaces enable anyone with insecure immigration status to choose brand new clothes, toiletries and accessories with dignity, for free. Items are donated to us by partner companies. We believe these items should not be condemned to waste, usually via landfill or incineration, when they can be redirected to people in need. In addition to the items saved from waste, we also provide period products donated to us by our charity partner, Bloody Good Period, although this partnership has now ended due to the closure of Bloody Good Period at the end of 2025. Visitors are referred to Thread Ahead by a wide range of organisations, such as refugee centres, law centres, destitution support charities, NHS bodies and local authorities, all of whom will have registered with us as referral partners. This allows us to manage demand and ensure that those most in need are able to access support. Referral partners provide full details for all individuals attending Thread Ahead events, which means that Thread Ahead does not have to ask visitors to disclose any personal details when they arrive. Instead, we simply check their ticket or name and welcome them into the space where they can browse freely, ensuring it feels as much like an ordinary shop as possible. **----- Start of picture text -----**
4
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## **Volunteers** Thread Ahead is heavily involved in the community and relies on voluntary support to deliver its services. Volunteers support with stock management, event set-up and clothing distributions. All volunteers who support with clothing distributions are current or former service users. As well as providing development opportunities to members of our community, this helps visitors feel comfortable at our events, breaking down ‘us’ and ‘them’ barriers. Our volunteers speak a wide range of languages, ensuring visitors’ needs are met at all events. Thread Ahead also continued to offer corporate volunteering opportunities this year, particularly as part of our annual Winter Coat Drive. In addition to supporting overall efficiency, corporate volunteering deepens our relationships with corporate partners, including brands, and aids income diversification. We wish to take this opportunity to thank all volunteers for their support over the course of the past year. ## **Office space** In addition to our event space and volunteer hub, we now have a dedicated showroom and office in central London. This new space will be used for smaller events, meetings and external events. We are working towards our new space adding to our income diversification as well as strengthening partnerships and awareness of Thread Ahead amongst creative industries. We would like to take this opportunity to thank our partners at Avire for continuing to support us with arranging our event space and volunteer hub. ## **Partnerships** 2025/26 saw Thread Ahead continue to branch out into new areas of service provision. We worked to broaden and strengthen partnerships with referral organisations. Below are some examples of how we have done this. We continued to run events for our LGBTQ+ community. Visitors were offered a range of clothing, toiletries, makeup and accessories in an inclusive space. These events are offered in partnership with Micro Rainbow. We have also taken part in larger events at partner organisations own spaces. We have provided t-shirt printing alongside toiletries and accessories at these events. Thanks to Da’aro Youth, Pecan, and South London Refugee Association for organising these events. This year at our Winter Coat Drive, we provided 413 people with coats over two events. During the drive, we work with companies to create donation points where anyone can donate brand new or slightly used coats for our community. We would like to take this opportunity to thank our partners who hosted collection points at Flight Story, Business of Fashion, Unilever and Open. **6** We continue to work in coalition with Refugees Together, Lift The Ban, and Solidarity Knows No Borders to support existing campaigns to improve the lives of people with insecure immigration status in the UK. Going forward, we will continue to assess how we can support these campaigns in the most effective manner possible. As we grow, we are accepting large donations of singular items which can be slow to be distributed at our own events. Working directly with partners who also distribute clothes, toiletries and accessories is helping us to support more beneficiaries whilst maintaining a high quality service. ## **Learning & improvements** Thread Ahead works to embed a culture of learning and reflection throughout its practice, in order to ensure the charity remains flexible and responsive to the wishes, feedback and needs of those it supports. In line with the charity’s commitment to being community-led, we continuously evaluate events and implement improvements based on visitors’ feedback. As with last year, there continued to be high demand for our services, so we again increased the frequency of our events. In 2025/26 we ran 20 events, up from 12 events in 2024/25 and 8 events in 2023/24. We are now working with over 300 referral partners. We also remain committed to centring community-leadership within our practice. This year, we launched our Lived Experience Advisory Board. This board meets quarterly and is entirely made up of volunteers and visitors. They discuss experiences of our services and ideas for improvement and development. These are then be fed back to our Lived Experience Trustee, who communicates the board’s wishes and feelings back to wider trustees and staff. So far, we have had three meetings, and the feedback has been good. The insights from these meetings have been really useful in focusing the direction of our services. **7** ## **Impact** ## **121** tonnes of CO2 emissions prevented +159% on last year **12,736** items saved from waste +159% on last year **1,285** adult asylum seekers supported +65% on last year **253** asylum-seeking children supported +10% on last year **143** organisations made referrals +22% on last year **20** clothing distribution events +163% on last year ## **Visitor experience** We continue to evaluate and improve impact assessment methods across our work, particularly as our service delivery diversifies. In order to ensure our clothing events feel as much like ordinary shops as possible, Thread Ahead generally avoids collecting feedback and data from visitors while they are actively using the space. This decision was also influenced by recognition that there was a power imbalance in collecting feedback in that way, which may prevent visitors from feeling that they could speak freely. Instead, visitors are contacted after events with a link to a survey, which can be filled out anonymously, asking them to evaluate their experience and offer suggestions for improvement. We also contact all referral partners for feedback. Visitors can also provide their contact details and request a call-back, if they would like to discuss their experience in more depth with a member of staff. **“The staff/volunteers were very welcoming, and helpful. I was able to get new shoes for my first Christmas in the UK! And everything at the event was very organised.”** - A November 2025 Visitor **9** ## **92%** felt confident wearing their new items (6% were unsure) This meant more than words could express for the women who received the items; these gifts were not only practical but gave them hope, faith and comfort, a sense of being seen and cared for. **DOREEN, PECAN (REFERRAL PARTNER), JANUARY 2026** The staff/volunteers were very welcoming, and helpful. I was able to get new shoes for my first Christmas in the UK! And everything at the event was very organised. **A. (THREAD AHEAD VISITOR), NOVEMBER 2025** ## **95%** would recommend us to a friend (4% were unsure) **96%** reported experiencing dignity and respect (4% were unsure) I am very happy with Thread Ahead event and always look forward to their next event dates because I feel happy and dignified when I'm there. **A. (THREAD AHEAD VISITOR), JUNE 2025** ## **Testimonial: Leen** I was in need of clothing and toiletries, especially on my first few visits to Thread Ahead. I got to know Thread Ahead at a stage of my life where I was so broke and unemployed, so their services definitely helped a lot! I love how all of Thread Ahead’s events offer clothing to refugees in a very nice way, where people have the choice of choosing what clothes they like and what they don't, with really high quality clothing that's very rare to find in any other charities or clothes banks. Now, I’m part of Thread Ahead’s volunteer team. Volunteering with Thread Ahead has been the longest time I've volunteered with any charity. They have a really nice team and I genuinely enjoy going to the events as a volunteer! Volunteering with them makes me feel useful and it always satisfies the part of me that wants to help people. **LEEN (THREAD AHEAD VOLUNTEER), MARCH 2026** ## **Who we support** We collate demographic data through our online referral system, to build a picture of the community we support. The following data relates to every person booked to attend one of our events for adults in 2025/26. This data helps shape our ongoing service development and design. ## **Gender** In terms of gender, we find our services are fairly evenly balanced. It is notable that many clothing providers working in this sector focus solely on provision for women. We regularly receive positive feedback from men who visit us, who tell us that they struggle to access similar services elsewhere. **----- Start of picture text -----**
Nonbinary
0.3%
Women
40%
Men
59.4%
Prefer not to say
0.3%
**----- End of picture text -----**
## **Returning visitors** Data shows a healthy balance of returning and new visitors at events. Last year, we changed our booking process to encourage referral partners to triage visitors based on their degree of need. As a result, 2024/25 saw a substantial increase in the percentage of visitors who were attending our events for the first time. This has continued this year, alongside further outreach with direct provision with new partner organisations. **----- Start of picture text -----**
Returning visitor
13.3%
New visitor
86.7%
**----- End of picture text -----**
**12** ## **Age** Ticket data from 2025/26 shows that the ages of the people we support broadly correlates with the government’s data on the ages of people granted asylum. Though fewer people currently seeking asylum are aged 50+, a large number of people in this age bracket experience insecure immigration status in other ways. The unknown column comes from partnership events where we don’t collect age data. **----- Start of picture text -----**
400
300
200
100
0
Under 18 18-25 26-35 36-45 46-55 56-65 66-75 Prefer not to say75+ Unknown
**----- End of picture text -----**
**“The client I referred to this event was really happy with the pieces of clothing he received, sending me pictures of it afterwards and asking to be referred again for a jacket (as the event he attended to could not provide winter clothing as such). The referral was super easy, and the impact on client's wellbeing was enormous. He was very happy.”** - RM December 2025 Referrer **143** ## **Financial review** This year saw significant growth for the charity, tied to an increase in funding from trusts, foundations, corporates and individuals across the year. This enabled the charity to progress towards the goals outlined in its strategy plan, including increasing the frequency of our events and, in turn, the number of people supported and the number of items saved from waste. ## **Overview** The charity received a substantial increase in funding this financial year. This is partly due to funds coming in right at the start of Q1 as well as an increase in the number of funds the charity is eligible for due to having three sets of accounts available on the Charity Commission website. We are in a stable financial position, allowing us the ability to focus on the future. An increase in multi-year funding is adding further to this stability for the next two years, giving us some flexibility and opportunities for further growth. ## **Grants** Details of the grant funding received by the charity this year can be found in the accounts below. We would like to take this opportunity to thank the charity’s grant funders: the Blue Thread, London Community Foundation, Lambeth Community Connections, City Bridge Trust, the People’s Postcode Lottery, Hilden Charitable Fund, School for Social Entrepreneurs and the National Lottery. ## **Reserves policy** Thread Ahead’s reserves policy is to maintain a cash balance of between 3 and 6 months of operating expenses. Based on our budget for 2026/27, this amounts to between £32,879 and £65,759. At 31 March 2026, Thread Ahead held £51,248 in free reserves, which is within policy. **14** ## **Future plans** 1 ## **Community hub** Thread Ahead’s top priority for 2026/27 is to build our new community hub to host our events, workshops and offer space to our partner brands and organisations. Having a permanent space will streamline our stock logistics and provide us with clarity on where our events will be taking place, supporting long-term planning. Our community have also shared feedback that they would prefer us to have one permanent space. 2 ## **Diversifying income streams** The current fundraising landscape for charities is very challenging. With this in mind, we continue focus on diversifying our income streams this year. In particular, we hope to increase the proportion of our income coming from our community hub, with aims for the income from the space to cover the running costs by the end of 2026/27. We aim to do this by using it as a traded income stream, offering hire space for brand partners, corporates and other organisations. 3 ## **Deepening partnerships** Thread Ahead will continue to focus on deepening relationships with referral organisations in 2026/27. We are aiming to expand our services to work more directly with organisations whose missions align with our own. We now accept larger quantity donations than we have been able to in the past, and we hope to broaden our community and provide access to donations through these partnerships. 4 ## **Brand relationships** Thread Ahead will also continue to focus on deepening relationships with new and existing brand partners in 2026/27. Utilising our existing brand network is the best way for us to build relationships and access more surplus stock. With upcoming changes to legislation and guidance for brands to manage their surplus stock, we hope to be well placed to support our partners. **15** ## **Structure & governance** The Board of Trustees, which currently has six members, administers the charity. The board meets quarterly and there are sub-committees covering finance, fundraising, business planning, marketing and safeguarding, which also meet as needed. A Chief Executive is appointed by the trustees to manage the day-to-day operations of the charity. ## **Appointment of trustees** Trustees are appointed when the board has identified specific skills that would be beneficial or when a trustee resigns. Potential candidates are identified and interviewed. If the candidate accepts an offer, this is subject to vetting and approval by the board, in line with Charity Commission guidance. ## **Trustee induction & training** New trustees attend a meeting to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, content of the Constitution, the committee and decision-making processes, the strategy plan and Thread Ahead’s recent financial performance. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. ## **Safeguarding** The charity has a Safeguarding Policy in place which is reviewed each year in line with Charity Commision guidance. As outlined in the policy, safeguarding leads have been designated both within the staff team and Board of Trustees. Due to our work with people with insecure immigration status, safeguarding is central to our activities and processes. Trustees and staff review the safeguarding policy each year and staff complete safeguarding training at least every two years. **16** ## **Risk Management** The trustees have a risk management strategy which comprises: - a review of the risks the charity may face, using a risk matrix which is reviewed annually; most recently in September 2025; - the establishment of systems and procedures to mitigate those risks identified in the plan; and - the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. This work has identified that an over-reliance on grant funding is the main financial risk to Thread Ahead. Attention has also been focused on non-financial risks around the pipeline of stock required for delivery of core services. Both risks have been outlined and addressed in the charity’s organisational risk assessment, most recently reviewed in September 2025. **----- Start of picture text -----**
187
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## **Reference & administrative details** **Governing document Charity number** The charity is a Charitable Incorporated Organisation, governed by its constitution dated 13th July 2021. 1195144 **Principal address** Unit 40 City Business Centre Lower Road London SE16 2XB **Independent Examiner** Julia Sutor BSc FCCA **Bankers** Metro Bank 1 Southampton Row London WC1B 5HA **18** ## **Trustees** The trustees serving during the year and since the year end were as follows: - Daniel Adeyemi, Chair - Angela M. Webb - David A. Showell - Donna S. E. Dickey - Rhodiane S. Kengne - Anna de Pulford - Ron Mulvey (resigned 2nd June 2025) Approved by order of the Board of Trustees on 10 June 2026 and signed on its behalf by: .................................................................................................. Daniel Adeyemi, Chair **----- Start of picture text -----**
19
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## **Independent examiner’s report** ## **Independent examiner’s report to the trustees of Thread Ahead** I report to the charity trustees on my examination of the accounts of Thread Ahead (the Trust) for the year ended 31 March 2026. ## **Responsibilities & basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts 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. 20 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. Julia Sutor Bsc FCCA Date 12 21 ## **Trustees’ responsibilities** The Trustees are required under the constitution of the charity to prepare financial statements for each financial year to reflect the state of affairs of the charity and of its results for that period. In preparing those financial statements, the Trustees are required to: 1. Select suitable accounting policies and apply them consistently. - 2.Make judgements and estimates that are reasonable and prudent; and - 3.Prepare the financial statements on a going concern basis unless it is inappropriate to assume 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. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees have adopted the provisions of 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) (effective 1st January 2019). **----- Start of picture text -----**
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## **Thread Ahead Statement of Financial Activities For The Year Ended 31 March 2026** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Other
**4**
**EXPENDITURE ON:**
Raising funds
**6**
Charitable activities:
**6**
Core service costs
Support costs
**NET INCOME/(EXPENDITURE)**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**12**|**Unrestricted**
**funds**
**£**
37,972
200|**Restricted**
**funds**
**£**
105,000
-|**2026**
**Total**
**funds**
**£**
142,972
200|**2025**
**Total**
**funds**
**£**
46,525
-| |---|---|---|---|---| ||38,172|105,000|143,172|46,525| ||(83)
(1,810)
(17,175)|(83)
(5,560)
(93,728)|(166)
(7,370)
(110,903)|(1,667)
(16,910)
(58,474)| ||(19,068)|(99,371)|(118,439)|(77,051)| ||19,104|5,629|24,733|(30,526)| ||19,104
32,315|5,629
888|24,733
33,203|(30,526)
63,729| ||51,419|6,517|57,936|33,203| The notes form part of these financial statements. 23 ## **Thread Ahead Comparative Statement of Financial Activities For The Year Ended 31 March 2026** |**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
**EXPENDITURE ON:**
Raising funds
**6**
Charitable activities:
**6**
Core service costs
Support costs
**NET EXPENDITURE**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**12**|**Unrestricted**
**funds**
**£**
36,525|**Restricted**
**funds**
**£**
10,000|**2025**
**Total**
**funds**
**£**
46,525| |---|---|---|---| ||(1,667)
(13,044)
(50,846)|-
(3,866)
(7,628)|(1,667)
(16,910)
(58,474)| ||(65,557)|(11,494)|(77,051)| ||(29,032)|(1,494)|(30,526)| ||(29,032)
61,347|(1,494)
2,382|(30,526)
63,729| ||32,315|888|33,203| The notes form part of these financial statements. 2� ## **Thread Ahead Statement of Financial Position As At 31 March 2026** |**Notes**
**FIXED ASSETS**
Tangible �ssets
**10**
**CURRENT ASSETS**
Debtors
**11**
Cash at bank and in hand
**NET CURRENT ASSETS (LIA�ILITIES)**
**TOTAL ASSETS LESS CURRENT**
**LIA�ILITIES**
**NET ASSETS**
**FUNDS OF T�E C�ARITY**
Restricted Funds
�nrestricted Funds
**TOTAL FUNDS**
**12**|**Unrestricted**
**funds**
**£**
171|**Restricted**
**funds**
**£**
126|**2026**
**Total**
**funds**
**£**
297|**2025**
**Total**
**funds**
**£**
511| |---|---|---|---|---| ||171
2,650
48,598|126
-
6,391|297
2,650
54,989|511
120
32,572| ||51,248
51,248|6,391
6,391|57,639
57,639|32,692
32,692| ||51,419|6,517|57,936|33,203| ||51,419|6,517|57,936|33,203| ||||6,517
51,419|888
32,315| ||||57,936|33,203| On behalf of the board SIGN Daniel �deyemi David Showell Trustee Trustee Date The notes form part of these financial statements. 2� **Thread Ahead Notes to the Financial Statements For The Year Ended 31 March 2026** ## 1. **�eneral Information** Thread �head is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1195144. The principal address is �nit 40, City Business Centre, �ower Road, �ondon, S�16 2�B. ## 2. **Accounting Policies** ## 2.1. **�asis of Preparation of Financial Statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) ��ccounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the �� and Republic of Ireland (FRS 102) (effective 1 �anuary 2019)�, Financial Reporting Standard 102 �The Financial Reporting Standard applicable in the �� and Republic of Ireland� and the Charities �ct 2011. The charity is a Public Benefit �ntity as defined by FRS 102. ## 2.2. **Fund Accounting** �nrestricted funds can be used in accordance with the charitable ob�ectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose. Restricted funds can only be used for particular restricted purposes within the ob�ects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## 2.3. **Incoming Resources** �ll income is recognised in the Statement of Financial �ctivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## 2.4. **Resources Expended** �iabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be re�uired in settlement and the amount of the obligation can be measured reliably. �xpenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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. Grants offered sub�ect to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 2� **Thread Ahead Notes to the Financial Statements (continued) For The Year Ended 31 March 2026** ## 2.5. **Tangible Fixed Assets and Depreciation** Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Plant & Machinery 20% on cost ## 2.6. **Taxation** The charity is exempt from tax as all its income is charitable and applied for charitable purposes. ## 3. **Income from Donations and Legacies** |Donations and gifts
Gift aid
Grants
Donations and gifts
Gift aid
Grants
4.
**Other Income**
Sales|**Unrestricted **
**funds**
**£**
4,979
1,593
31,400|**Restricted**
**funds**
**£**
-
-
105,000|**2026**
**Total**
**funds**
**£**
4,979
1,593
136,400| |---|---|---|---| ||37,972|105,000|142,972| ||**Unrestricted **
**funds**
**£**
7,483
-
29,042|**Restricted**
**funds**
**£**
-
-
10,000|**2025**
**Total**
**funds**
**£**
7,483
-
39,042| ||36,525|10,000|46,525| ## 4. **Other Income** 2� **Thread Ahead Notes to the Financial Statements (continued) For The Year Ended 31 March 2026** ## 5. **Net Income/(Expenditure)** The net income�(expenditure) is stated after charging�(crediting): |Depreciation of tangible fixed assets - owned
6.
**Anal�sis of Expenditure**
Raising funds
Core service costs
Support costs
Raising funds
Core service costs
Support costs
7.
**Support Costs**
�mployee costs
Premises expenses
General administration
Depreciation|**Activities**
**underta�en**
**directl�**
**£**
166
7,370
-|**2026**
**£**
214|**2025**
**£**
214| |---|---|---|---| |||**Support**
**costs**
(see note
7)
**£**
-
-
110,903|**2026**
**Total**
**£**
166
7,370
110,903| ||7,536|110,903|118,439| ||**Activities**
**underta�en**
**directl�**
**£**
1,667
16,910
-|**Support**
**costs**
(see note
7)
**£**
-
-
58,474|**2025**
**Total**
**£**
1,667
16,910
58,474| ||18,577|58,474|77,051| ||||**2026**
**Support**
**costs**
**£**
83,588
22,924
4,177
214| ||||110,903| ## 6. **Anal�sis of Expenditure** ## 7. **Support Costs** 2� ## **Thread Ahead Notes to the Financial Statements (continued) For The Year Ended 31 March 2026** |�mployee costs
General administration
Depreciation
8.
**Staff Costs**
Staff costs were as follows:
**2026**
**£**
Wages and salaries
83,588|**2025**
**Support**
**costs**
**£**
54,975
3,285
214| |---|---| ||58,474| ||**2025**
**£**
54,975| �o employees received employee benefits (excluding employer pension costs) for the reporting period of more than �60,000. ## 9. **Average Number of Emplo�ees** �verage number of employees during the year was: 2 (2025: 2) ## 10. **Tangible Assets** |**Cost**
�s at 1 �pril 2025
�s at 31 March 2026
**Depreciation**
�s at 1 �pril 2025
Provided during the period
�s at 31 March 2026
**Net �oo� Value**
�s at 31 March 2026
�s at 1 �pril 2025|**Plant �**
**Machiner�**
**£**
1,067| |---|---| ||1,067| ||556
214| ||770| ||297| ||511| 2� ## **Thread Ahead Notes to the Financial Statements (continued) For The Year Ended 31 March 2026** 11. **Debtors** |**Due after more than one �ear**
Other debtors
12.
**Movement in Funds**
**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Restricted Fund
**Total funds**
**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Restricted Fund
**Total funds**|**As at 1**
**April 2025**
**£**
32,315
888|**Income**
**£**
38,172
105,000|**2026**
**£**
2,650
**Expenditure**
**£**
(19,068)
(99,371)|**2025**
**£**
120| |---|---|---|---|---| |||||**As at 31**
**March**
**2026**
**£**
51,419
6,517| ||33,203|143,172|(118,439)|57,936| ||**As at 1**
**April 2024**
**£**
61,347
2,382|**Income**
**£**
36,525
10,000|**Expenditure**
**£**
(65,557)
(11,494)|**As at 31**
**March**
**2025**
**£**
32,315
888| ||63,729|46,525|(77,051)|33,203| ## 13. **Transactions �ith Trustees** During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows: ||**2026**|**2025**| |---|---|---| ||**£**|**£**| |Travel|150|88| 3� **Thread Ahead Notes to the Financial Statements (continued) For The Year Ended 31 March 2026** ## 14. **Related Part� Disclosures** There were no related party transactions for the year ended 31 March 2026. The familial relationship between �ngela Webb, a trustee, and �melia Webb, an employee, has been disclosed to the board and the Charity Commission. �ngela abstains from discussion and voting on any polls which deal with matters associated with �melia and her employment. 3� ## **Thread Ahead Detailed Statement of Financial Activities For The Year Ended 31 March 2026** |**INCOME AND ENDOWMENTS FROM:**
**Donations and legacies**
Donations
Gift aid
Grants
**Other**
Sales
**EXPENDITURE ON:**
**Raising funds**
Fundraising and marketing
Bank charges
**Charitable Activities:**
**Core service costs**
Direct core service costs
Stock management costs
**Support costs**
Wages and salaries
Rent
Showroom works
Insurance
Training
Professional fees
Office costs
Sundry expenses
Depreciation
**NET INCOME/(EXPENDITURE)**|**2026**
**Total**
**funds**
**£**
4,979
1,593
136,400|**2025**
**Total**
**funds**
**£**
7,483
-
39,042| |---|---|---| ||142,972
200|46,525
-| ||200|-| ||143,172
(77)
(89)|46,525
(1,581)
(86)| ||(166)
(5,191)
(2,179)|(1,667)
(9,110)
(7,800)| ||(7,370)
(83,588)
(13,800)
(9,124)
(828)
(76)
(350)
(2,773)
(150)
(214)|(16,910)
(54,975)
-
-
(598)
(104)
(619)
(1,704)
(260)
(214)| ||(110,903)|(58,474)| ||(118,439)|(77,051)| ||24,733|(30,526)| 32 **Keep in touch** threadahead.org hello@threadahead.org @threadahead_