**OUR SECOND HOME TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **Our Second Home Contents**
||**Page**|
|---|---|
|Trustees' Report|1—4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Comparative Statement of Financial Activities|7|
|Statement of Financial Position|8|
|Notes to the Financial Statements|9—14|
## **Our Second Home**
## **Trustees' Report For The Year Ended 31 December 2025**
The trustees present their report and the financial statements for the year ended 31 December 2025.
## **Objectives and Activities**
## **Aims and Objectives**
The following objects, as set out in the CIO Constitution, are for the public benefit:
(1) The relief of those in need, by reason of their youth or their social and economic situation for the public benefit through the provision of such information and advice as the trustees deem appropriate.
(2) To advance young people under the age of 26 in life by providing advice and assistance and organizing programs of physical, educational and other activities as a means of advancing in life and helping such people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
(3) To advance the education of the public in general about the issues relating to migrants, especially as set out in the CIO Constitution, and
(4) To promote social inclusion among people who are refugees, asylum seekers and migrants who are socially excluded on the grounds of their social and economic position.
The main aim of the charity is the provision of residential trips, leadership training programs, and year-round support with and for refugees and people seeking asylum. This is done in order to strengthen three main areas of the beneficiary's experience: identity, community, and leadership.
## **Grant Distribution**
The Charity retains the right to administer grants at its discretion. All grants distributed would be in line with the stated objects of the charity. No grants were distributed during the year
## **Public Benefit**
The charity's main activity is advancing the welfare and integrating of individuals into society who are at a disadvantage by virtue of their youth, social, or economic situation.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
## **Achievements and Performance**
## **Main Achievements**
## **Non-Financial Achievement**
In 2025, Our Second Home had over 1,008 (2024:827) people with refugee backrounds attending our programming. These were made up of 398 attendances in our residentials and 610 at our non-residential activities, such as our Bristol and London hubs.
People attended on average of 3 activities, with 328 unique participants with lived experience of asylum (2024: 240, 2023: 204). Participants attended any of a total of 127 events, of which 12 were residential trips (2024: 68, 2023: 77, 2022: 5; 2021: 2).
Other events include 3 (2024:2) leadership training courses with 27 graduates (2024:24) and an annual graduation ceremony. 9 young leaders took up managerial positions within core teams on our trips.
There was also a weekly youth club in Bristol and our youth hub in London organised in collaboration with Hillingdon Refugee Support Group.
We also ran a cycling training course, featuring road safety and maintenance classes, free bikes, and two overnight cycling and camping trips.
As a result of our residentials, 62% of participants told us they had close friends in the UK before the residential, rising to 69% afterwards, while the proportion of those who described themselves as being comfortable communicating in English rose from 71% to 79%.
## **Financial Performance**
In 2025, the charity recorded £39,894 in donations receivable in the year and £1,222 in interest and other income. Grants receivable during the year amounted to £451,885. A detailed analysis can be found in the notes to the accounts. Fundraising costs incurred during the year amounted to £31,566 and are detailed in the notes to the accounts.
...CONTINUED
Page 1
## **Our Second Home Trustees' Report (continued) For The Year Ended 31 December 2025**
## **Main Achievements - continued**
The charity paid out £361,982 on direct costs in the running and management of the charity. The majority of those costs relate to residential programs and staff salaries. Support and governance costs for the year were £74,297.
No grants were distributed during the year. Related party transactions are detailed in the notes.
There was an overall net income movement in funds for the year, amounting to a net income of £118,049 of which restricted net income amounted to £21,429 and unrestricted net income of £96,620.
## **Appreciation**
The trustees extend their heartfelt appreciation and gratitude to all donors, employees and volunteers. Our positive impacts on the charity's beneficiaries would not have been possible without you
## **Financial Review**
## **Reserves Policy**
The trustees have reviewed the level of reserves held by the Charity. The review has concluded that to allow the Charity to be managed efficiently and to provide a buffer for uninterrupted services in the event of unforeseen circumstances, the level of free reserves, being those not tied up in fixed assets, needs to be maintained at not less than six months' expenditure.
The free reserves, comprising of net current assets, stand at £168,886 of which £57,897 are restricted.
## **Reference and Administrative Details**
## **Trustees**
Nicholas Schlagman Ezio Fabricio Silva Dr Robyn Smith (appointed 16/07/2025) Hannah Spark (appointed 07/05/2025) Raymond Simonson Alex Brookes (resigned 21/01/2026) David King (resigned 21/01/2026)
## **Other Personnel**
Amos Schonfield - Executive Leader
## **Charity Number**
1197551
## **Principal Address**
Alexander House 3 Shakespeare Road London N3 1XE
## **Independent Examiner**
Sarah Jones FCCA Moneypad Ltd ACCA Moneypad Ltd B1 Vantage Park Old Gloucester Road Hambrook BS16 1GW
Page 2
## **Our Second Home Trustees' Report (continued) For The Year Ended 31 December 2025**
## **Structure, governance and management Charity Structure**
Our Second Home is a CIO. It was registered with the Charity Commission for England and Wales on 18 January 2022, with charity number 1197551.
## **Governing Body**
The trustees of the Charity are legally responsible for the overall management of the organization. The day-to-day running of the Charity is undertaken
by the CEO and the senior management. The CEO is aware of the need to follow best practice and to recruit new trustees as applicable.
The trustees are kept informed of the running of the Charity, and new Trustees will be appointed when and if the need arises.
Recruitment and appointment of new trustees would be in line with the Governing Documents. The principal criteria set for the suitable candidate would be someone who is sensitive to the needs and demands required for effective administration of the Charity.
Training and induction of trustees is undertaken as needed.
All major decisions are taken collectively by the trustees and all the trustees give of their time freely. The trustees are unpaid and details of any related
party transactions are disclosed as applicable in the notes to the accounts.
The arrangements for setting the pay of the charity's employees are the sole domain of the trustees.
## **Risk Review**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems are in place to manage exposure to major risks.
The risks faced by the charity are principally operational risks from the ineffective running of the charities programs. These risks are managed by the
trustees, ensuring the right staff are utilised and the right policies are implemented.
Procedures are in place to strengthen these safeguards and to ensure public benefit is achieved from all aspects of the charity's management.
Page 3
## **Our Second Home Trustees' Report (continued) For The Year Ended 31 December 2025**
## **Statement of Trustees' Responsibilities**
The trustees, who are also directors of the charity for the puposes of the Companies Act 2006, 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).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charity and to enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Since the end of the financial year, Hamzah Alqhfa and Wintana Mana Tekie were appointed as a Trustees on the 28th April 2026. They have not therefore participated in the approval of these accounts.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Ezio Fabricio Silva
Trustee 30/05/2026
Page 4
## **Our Second Home Independent Examiner's Report to the Trustees of Our Second Home For The Year Ended 31 December 2025**
I report to the trustees on my examination of the accounts of Our Second Home (the Trust) for the year ended 31 December 2025.
## **Responsibilities and 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 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent Examiner's Statement**
Since the Trust’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 Association of Chartered Certified Accountants, which is one of the listed bodies.
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 contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Sarah Jones FCCA 23/05/2026 Moneypad Ltd B1 Vantage Park Old Gloucester Road Hambrook BS16 1GW
Page 5
## **Our Second Home Statement of Financial Activities For The Year Ended 31 December 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Investments
**4**
Other
**5**
**EXPENDITURE ON:**
Raising funds
**6**
Charitable activities
**6**
**NET INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**14**|**Unrestricted**
**funds**
**£**
322,408
1,200
23|**Restricted**
**funds**
**£**
169,371
-
-|**2025**
**Total**
**funds**
**£**
491,779
1,200
23|**2024**
**Total**
**funds**
**£**
244,294
945
-|
|---|---|---|---|---|
||323,631|169,371|493,002|245,239|
||(3,888)
(223,123)|-
(147,942)|(3,888)
(371,065)|(1,560)
(231,306)|
||(227,011)|(147,942)|(374,953)|(232,866)|
||96,620|21,429|118,049|12,373|
||96,620
13,657|21,429
36,468|118,049
50,125|12,373
37,752|
||110,277|57,897|168,174|50,125|
The notes on pages 9 to 14 form part of these financial statements.
Page 6
## **Our Second Home Comparative Statement of Financial Activities For The Year Ended 31 December 2025**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
**3**
Investments
**4**
**EXPENDITURE ON:**
Raising funds
**6**
Charitable activities
**6**
**NET INCOME**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**14**|**Unrestricted**
**funds**
**£**
190,311
945|**Restricted**
**funds**
**£**
53,983
-|**2024**
**Total**
**funds**
**£**
244,294
945|
|---|---|---|---|
||191,256|53,983|245,239|
||(1,560)
(212,808)|-
(18,498)|(1,560)
(231,306)|
||(214,368)|(18,498)|(232,866)|
||(23,112)|35,485|12,373|
||(23,112)
36,769|35,485
983|12,373
37,752|
||13,657|36,468|50,125|
The notes on pages 9 to 14 form part of these financial statements.
Page 7
## **Our Second Home Statement of Financial Position As At 31 December 2025**
|**Notes**
**CURRENT ASSETS**
Debtors
**11**
Cash at bank and in hand
**Creditors: Amounts Falling Due Within One Year**
**12**
**NET CURRENT ASSETS (LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS OF THE CHARITY**
Restricted Funds
Unrestricted Funds
**TOTAL FUNDS**
**14**|**Unrestricted**
**funds**
**£**
2,767
120,777|**Restricted**
**funds**
**£**
-
57,897|**2025**
**Total**
**funds**
**£**
2,767
178,674|**2024**
**Total**
**funds**
**£**
5,282
49,746|
|---|---|---|---|---|
||123,544
(13,267)|57,897
-|181,441
(13,267)|55,028
(4,903)|
||110,277|57,897|168,174|50,125|
||110,277|57,897|168,174|50,125|
||110,277|57,897|168,174|50,125|
||||57,897
110,277|36,468
13,657|
||||168,174|50,125|
On behalf of the board
Ezio Fabricio Silva
Trustee 30/05/2026
The notes on pages 9 to 14 form part of these financial statements.
Page 8
**Our Second Home Notes to the Financial Statements For The Year Ended 31 December 2025**
## 1. **General Information**
Our Second Home is a charitable incorporated organisation registered with the Charity Commission, registered charity number 1197551. The principal address is Alexander House, 3 Shakespeare Road, London, N3 1XE.
## 2. **Accounting Policies**
## 2.1. **Basis of Preparation of Financial Statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities Act 2011.
The charity is a Public Benefit Entity as defined by FRS 102.
## 2.2. **Going Concern Disclosure**
The Trustees have prepared financial projections, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the accounts.
## 2.3. **Incoming Resources**
The charity income is recognised in the Statement of Financial Activities when the charity is entitled to the funds, receipt is probable, and the amount can be measured reliably.
## **Donations and Legacies**
Donations are recognised when received or, where there is sufficient evidence of entitlement (such as a signed deed of covenant or pledge), when receivable. Legacies are recognised when probate has been granted, the estate has been sufficiently administered, and the amount can be reliably estimated.
## **Grants**
Grants are recognised when the conditions of the grant have been met and entitlement has been established. Where a grant is subject to conditions that have not yet been fulfilled at the year end, income is deferred and included within creditors until those conditions are satisfied.
## **Donated Goods and Services**
Donated goods are recognised at fair value at the date of receipt. Donated services are recognised where they would otherwise have been purchased and a reliable estimate of fair value can be made. Volunteer time is not recognised in the accounts.
## **Other Income**
Other income, including fundraising and charitable activities income, is recognised when the related activity or event has taken place and entitlement has been established.
## 2.4. **Resources Expended**
## **Grant Distribution**
The Charity retains the right to administer grants at its discretion. All grants distributed would be in line with the stated objects of the charity. No grants were distributed during the year.
## 2.5. **Cash and Cash Equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
## 3. **Income from Donations and Legacies**
Page 9
## **Our Second Home Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
|Donations and gifts:
Donations and legacies
Grants:
Grants|**Unrestricted**
**funds**
**£**
39,894
282,514|**Restricted**
**funds**
**£**
-
169,371|**2025**
**Total**
**funds**
**£**
39,894
451,885|**2024**
**Total**
**funds**
**£**
81,798
162,496|
|---|---|---|---|---|
||322,408|169,371|491,779|244,294|
The following grants are included within the total income from donations and legacies above:
|A B Charitable Trust
Anonymous
City Bridge Foundation
Goldberg Family Charitable Trust
KFC Youth Foundation
London Cycling Campaign
Seneca Trust
Shoresh Charitable Trust
The Rayne Trust
The Weisz Foundation
The Zohar Dean Trust
This Day Foundation
Trace Charitable Trust
WFH Foundation
Women of the Year Foundation
Allan & Gill Gray Foundation
Lloyds Bank Foundation for England and Wales
National Lottery Community Fund
Prism The Gift Fund
The Big Give Trust
The Swan Mountain Trust|**Unrestricted**
**funds**
**£**
-
10,091
-
5,000
3,000
-
15,000
-
10,000
-
-
30,000
5,400
30,000
-
138,500
25,000
-
5,200
5,323
-|**Restricted**
**funds**
**£**
-
-
37,068
-
-
-
-
2,983
-
-
-
5,000
-
5,000
-
-
-
110,320
-
5,000
4,000|**2025**
**Total**
**funds**
**£**
-
10,091
37,068
5,000
3,000
-
15,000
2,983
10,000
-
-
35,000
5,400
35,000
-
138,500
25,000
110,320
5,200
10,323
4,000|**2024**
**Total**
**funds**
**£**
3,500
9,213
27,000
5,000
100
4,000
15,000
2,983
10,000
2,500
2,000
35,000
7,200
30,000
9,000
-
-
-
-
-
-|
|---|---|---|---|---|
||282,514|169,371|451,885|162,496|
4. **Investment Income**
Other interest receivable
|**2025**|**2024**|
|---|---|
|**Unrestricted**|**Total**|
|**funds**|**funds**|
|**£**|**£**|
|1,200|945|
Page 10
## **Our Second Home Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
5. **Other Income**
|.
**Other Income**|||
|---|---|---|
||**2025**|**2024**|
||**Unrestricted**|**Total funds**|
||**funds**||
||**£**|**£**|
|Other income|23|-|
6. **Analysis of Expenditure**
|Raising funds
Residential Programs
Outreach and Leadership Training Programs
Telephone & Data
Travel Costs
Insurance
Bank charges
Management & administration
Advertising and marketing
Printing and stationery
Legal/professional fees
Staff costs
General Administration
Independent examiners fees
Raising funds
Residential Programs
Outreach and Leadership Training Programs
Telephone & Data
Bank charges
Management & administration
Printing and stationery
Legal/professional fees
Staff costs
Independent examiners fees|**Activities**
**undertaken**
**directly**
**£**
2,879
123,960
13,048
5,632
5,811
2,917
56
28,607
2,300
789
-
112,733
2,311
-|**Support**
**costs**
(see note 7)
**£**
1,009
1,516
-
-
-
-
-
69,268
-
-
1,286
-
-
831|**2025**
**Total**
**£**
3,888
125,476
13,048
5,632
5,811
2,917
56
97,875
2,300
789
1,286
112,733
2,311
831|
|---|---|---|---|
||301,043|73,910|374,953|
||**Activities**
**undertaken**
**directly**
**£**
1,560
105,909
70
1,098
71
-
314
-
111,379
-|**Support**
**costs**
(see note 7)
**£**
-
-
-
-
-
311
-
11,085
-
1,069|**2024**
**Total**
**£**
1,560
105,909
70
1,098
71
311
314
11,085
111,379
1,069|
||220,401|12,465|232,866|
Page 11
## **Our Second Home Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
## 7. **Support Costs**
|**Raising**
**funds**
**£**
Employee costs
-
Premises expenses
1,010
General
administration
(1)
Governance costs
-
1,009
General administration
Governance costs|**Raising**
**funds**
**£**
-
1,010
(1)
-|**Residential**
**Programs**
**£**
1,357
-
159
-|**Management**
**&**
**administration**
**£**
65,126
623
3,519
-|**Legal/professional**
**fees**
**£**
-
-
-
1,286|**Independent**
**examiners**
**fees**
**£**
-
-
-
831|**2025**
**Total**
**£**
66,483
1,633
3,677
2,117|
|---|---|---|---|---|---|---|
||1,009|1,516|69,268|1,286|831|73,910|
||||**Management**
**&**
**administration**
**£**
311
-|**Legal/professional**
**fees**
**£**
11,085
-|**Independent**
**examiners**
**fees**
**£**
-
1,069|**2024**
**Total**
**£**
11,396
1,069|
||||311|11,085|1,069|12,465|
## 8. **Independent Examiner's Remuneration**
Independent examination of the financial statements
|**2025**|**2024**|
|---|---|
|**£**|**£**|
|831|1,069|
## 9. **Staff Costs**
Staff costs were as follows:
|Wages and salaries
Social security costs
Other pension costs|**2025**
**£**
161,881
8,066
3,488
173,435|**2024**
**£**
100,865
8,222
2,292|
|---|---|---|
|||111,379|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
## 10. **Average Number of Employees**
Average number of employees during the year was as follows:
|CEO
Program and Operations|**2025**
1
6
7|**2024**
1
4|
|---|---|---|
|||5|
Page 12
## **Our Second Home Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
## 11. **Debtors**
|1.
**Debtors**|||
|---|---|---|
|**Due within one year**
Other debtors
2.
**Creditors: Amounts Falling Due Within One Year**
Trade creditors
Other creditors
Taxation and social security
Accruals and deferred income|**2025**
**£**
2,767
**2025**
**£**
802
1,880
8,685
1,900
13,267|**2024**
**£**
5,282|
|||**2024**
**£**
3,382
452
-
1,069|
|||4,903|
## 12. **Creditors: Amounts Falling Due Within One Year**
## 13. **Pension Commitments**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
During the year the charge to the statement of financial activities in respect of defined contribution schemes was £3,488 (2024: £2,292).
At the statement of financial position date contributions of £1,880 (2024: £452) were due to the fund and are included in creditors.
## 14. **Movement in Funds**
|**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Restricted Funds
**Total funds**|**As at 1**
**January**
**2025**
**£**
13,657
36,468|**Income**
**£**
323,631
169,371|**Expenditure**
**£**
(227,011)
(147,942)|**As at 31**
**December**
**2025**
**£**
110,277
57,897|
|---|---|---|---|---|
||50,125|493,002|(374,953)|168,174|
|**Unrestricted funds**
General:
General unrestricted fund
**Restricted funds**
Restricted Funds
**Total funds**|**As at 1**
**January**
**2024**
**£**
36,769
983|**Income**
**£**
191,256
53,983|**Expenditure**
**£**
(214,368)
(18,498)|**As at 31**
**December**
**2024**
**£**
13,657
36,468|
|---|---|---|---|---|
||37,752|245,239|(232,866)|50,125|
Page 13
## **Our Second Home Notes to the Financial Statements (continued) For The Year Ended 31 December 2025**
## 15. **Post Balance Sheet Events**
Subsequent to the year end, Hamzah Alqhfa and Wintana Mana Tekie were appointed as trustees of the charity on the 28th April 2026. This appointment had no financial impact on the figures reported in these accounts.
## 16. **Transactions with Trustees**
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:
**----- Start of picture text -----**
2025 2024
£ £
Subsistence 294 229
**----- End of picture text -----**
Number of trustees reimbursed for expenses during the year was 2 (2024: 1)
## 17. **Related Party Disclosures**
During the year ended 31 December 2025, no related party transactions took place other than the reimbursement of expenses disclosed in the note "Trustees' Expenses".
No trustee received any compensation for services or remuneration during the year (2024 : nil).
Page 14