REGISTERED COMPANY NtiMBER: 01202541 (EDmd and Wales) RECISTERED C4R[Ty I¥UMBER: 269325 Report of the Thtee% and Financial St4teA*nt$ for tbe Year Ended 31 Mor¢h 21126 for Nucleu8 CoDNnunityAelion Ltd Grallt Harrod Lerman Davis LLP Chartered AOuntallts Statutory Auditor5 Second Floor, Kirkland House 11-15 P¢t¢rborough Road IlaErow Middlesex HAI 2AX
Nuclcws CoullRullity Acdott Ltd Conteftts orthe FIDallci*I Statements ror the yr ended 31 Mar¢b 2026 Page Report of the Trusttt5 I to 8 Report of the IDdependeDI Audltors 9 to 12 Statement Df FlnanclalActivttl¢s 13 Bilante Sheet 14 Flojv St4teoJe 15 Notes to the Cash Flow Statsment 16 Notsy to the Finatsel StAt¢m¢nts 17 to 23
Nucleu5 Aetton Ltd Ktport ofthe Tru$te&¥ for the y¢4r ¢nded 31 March 2026 The Tnth¢es are pleased to prcscnt their annual report, tO8ether with th¢ fitiatic1 statements of th¢ CbaTity for the year ended 31 Marcb 2026. These have been prepaTed to nK¢t the requirements of a dir¢etorg' re)rt ill accordan¢¢ with the Comp4ni¢s ACL Th¢ fi0&11 stAt¢ments comply with the Tharities A¢t 2011. the Compallies kn 2006, the arIS Merrrftrr8llduJn and Articles of knciati al the StrMellt of Recommended Prlice.. Aceoullting and R¢portillg by Charilies (SORP). applicable to cljarities preparing their accoutts in accordance with Financial Reporting Stslldard 102 (FRS 102). ffeCtI l January 2015.
Nuelèvs Conununlty Acthbll Ltd Report of the Trustees for the yr eDd¢d 31 March 2026 Th¢ Charitys mission 15 kn ethicate. infom¥ and advise useTS. lkn obi¢dives ere to combat poverty through edwatio and by providing ¢xpcrt access to advice and assis6in¢¢ iti areas of social Welfa law. Ow approach itivolves actively engaging vu]nernble clients in asse6sing their probIen, con8id¢TiDg tkir oplioTh% advisiog them ou thc lik¢ly consequences, and supporting drn to choose the bestway forward. There bave been no ¢haD8e8 to our objectives or approb during the year. Wc believe this appT0h cDabl¢s and empowers 5¢TVi¢¢ us¢rs to take a centrdl rok in decisioL4 that aff¢ct th¢ir Jivey, whil¢ also supporting them iti crealing plgns to addr$ imn)ediate and long-twn issue5. The Role lld Contrlbudon of Volllnteerg Volunkets, ille1lIng law sthdents and university placements. continue to p]ay a VAtal mle in delivering our work at bieving our Obj¢ctive4partIY over the past f¢w y¢ars. We rely on the tie, skllls, and pa&8ion for y)cial justtce tbot volunteers bring to All Are of the organisatioti And eyery D18 the year. OV 100 volunt¢ers supported our 5¢TVi¢¢4 vffjrking alongsid¢ paid staff aeross all areas of th¢ ¢lJarity. Our m3ntra h&s always been to provide the rigbt advice at (be rigbt ¢im¢- de"Vered by pwle who understand both th¢ system and thc of lo¢al coJnmwtie5. We just resolve wgent ptobl¢rns' tacklc th¢ ullderl?in8 i&wes that drive povety and hardship. All of ¢)ur gervices are delivered in paTthersbip - whether 5tatytory bodies like RBKC Housing Needs or tbrough voluntary n¢tWQTks such Ls tkn Ea]ing CorLSOrt1u and tlLe HtllillgdoD Advi¢¢ PaTtr¢rship. Tosether. a greater Housitig suitability. affordability and avaitsbility hLq ren]ained a5 the i$$ue for kjcal people. Rrnts are hi aThl conditioDS gre sub standard for the 21st lltllry. The liellt Reforni Act offers some hope for more Security and some additional oversigbi by R¢A¢ Tribunals. Jn the longer tetm w¢ hoF¢ it brill88 a measure of security. In th¢ short tern) we have wiknes5¢d a ma&sivo ijKreasc iti 18ndlords s21 or oo fault evt¢tions to move out 'undesirabl¢' 'loW profit" tenants. In the wming year we expect evictions to b¢come more complicatcd as landlords not having ¢$8 w a "no fDult ' ryctionbav¢ to have grounds to evi¢L We 41so bopo to s¢e ¢ouncils using th¢ir PQ7WErs to ta¢k]e rogK lndloT& and properties in disr¢pair. We look forward to workitig with lo¢al authorities in th¢ ¢oming year to belp protect tbe most vulnerable aDI help lo¢al housing lo iwiove tbe qualiry of housing for I1 people. Ovcr th¢ decade liw in Lotsdo espwially Childre bas be¢om¢ Ancr¢asingly diffi¢ulL Meanwhile, the so¢ial welfare sysiem-intended to provide & safely nei durin£ times of crisisaFkas become increLqingty in2dEquate. It is often slowto r¢spon and when SLWOrt do arrivG li is frequently iDsuffi¢i¢tst and delayed. For those who d¢peTrJ on it for nMe thall a brief pcriod. financial Iwdship Can quicLdy ¢scalate into debi and. tw Oft¢ l¢)ng-temi poverty. Our projects rnngc from spccialist WO and rcwcssioti Tti De Welfare Rights and Housing to parinerthp working across West L£sndon.
N4rleus ConunllDIty Actloll Ltd Report of the Trnstees for the yeAr ended 31 Mar¢h 2026 The Hillingdon AdTrice Parth¢rsl]ip, led by Age UK HillIngdo Hamiw & BrenL aloD8side DASH (Disability taghts). Bell FaTm (Migrant Wts), and Nucleus. Our rol¢ is to provide specialist bou518 and debt advice wtiilt sbatiug our expertis¢ to strengthen ParttShiP'S capacity and capability. tn th¢ coming year we will play a leading rolc in work to prevent lLonlessneSs, help p¢opl¢ become Debt Free an hop¢fully. hElp build a resilicnt Con]mty. In Kensington & Chelsw w¢ are a k¢y of the KC Advice Patinerthp. delivering srKcialist advi¢e on housin& debL benefjts. and utility . In K&C, through our work partners in Th¢ Boll Pannership. we plan to dev¢Eop & ll¢w model for residents of the World's End Estate to help resid¢n¢s llwke long terni in4)rovements to their live$ aud iife cl]ances. tn Ea]1 as part of the EaliDg Advice S¢rvi¢¢ led by Ea]ing Menw. Nucl¢us ¢ontinues to prnvide vital frotitline suppor4 iftelllditig expert triage and initial assc$sments, Alongside & specialist benefits appe21$ service. As a local trusl¢d partller we plan to build on our award wAnn1 Lido servicc to ¢reat¢ an effective to belp local r¢sidettts break out of pov¢rty and build skills to lead more indepettdettt live8. We build strong part[ShipS. provide expert bousiDg and debt ViCe. and deliver commuwty-led support ere it's needed nSt- and help people th dwisions and take control ofth¢ir liv¢s. Pubme benefit 8¢atem¢nt In ghapillg our objectives for the y¢8r and plallning our activities. tb¢ trnslees hLve eons&dered the Cbarity Cottil10,S guidance oll public b¢oefil including the guidance 'pubiic beneflt.. a cbarity IPD2}. The acl)ievements and activities above deDstrdtc tbe publi¢ ben¢fit arising through th¢ Charity's activities. STRATEGIC REPORT Flnanefal posltlon The statmwt of Financia] Activities showed a net surylws for the year of £149.054 (2025- £62JI2) a1 total T¢¢8 at the year-eDd stand at £1,328,767 (2025 - £1.179.713). At th¢ y¢ar end the free rry¢S ¢atti¢d fonvard excluding tatigible fixed assets tothlled 10 £462.991 {2025 - £396.876) of svhich £347.000 (2025 - £347.000) was desigDQted to buildinB maintenance, fi]rniture and equipment, stsff contingency alld computer d¢velopmenL Restricted ¢aNi¢d fonvard tots11 to £577.893 (2025 - £484,195). The Cl)arity endeavows to on a balkneed budget in delivering tb¢ vatiow activities carriwj out byNwl¢w.
Nllcleu CommuDIty Action Ltd R¢pDrt of the Trustee$ for th¢ year ended 31 March 2026 STRATEGIC REPORT PrlDclpal risks and wneertalntle8 Th¢ Dlrectors and TS havc id¢Dtified the n)ajor risks to which th¢ Charity is expos aud are confident that appropriate 5ySt¢ms iti place to n)itigat¢ thosc risks. The akaritys OrgaDisational Risk Assesstncnt has been The Cbarity makes limited use of financial instrumcnts Ixyond all operational bank Ourtt and at] illve5tmcnt in a comoion invcstm¢nt fim& Aq suctt its exp05ur¢ to pritt risK credit risK liquidity risK and casb flow risk is not material to the auessment of its assets. liabilitio financial wsill0 or fjnauctai pf0MLce. The nHill risks to OUT ability to d¢livcr effective seIS t}t kle the root causes of poverty illrlude: - Failsng to ¢ffcctively commut)icate the danwging irnpact of poverty oll illdividuab and eornmuniti¢& - Not developing irnaginative, aecessible, and responsive services. - LA)&g of skilled And experienced staff. - A dccliDC in th¢ quality and cottsistellcy of our s¢rvic¢ stattdarth. - Failu to aage costs or c¢)ntrol ¢xpetth"ture. - Losing the sUPPOrt of key fillthrs. - Not putting clients at the centre of everything we do. The Tru¢t5 a1 DiTC¢tor have takell proactive stw to adthss and mitigdt¢ th¢se risks. A key ex(ernal tisk for a independent organisation sucb ¥ ows is over-reli8nce on grants, Contrac or fl single funding source. We are actively working to diversify our incom¢ and $tr¢llgtben strategic psrtllerships to reduce thi$ Vuln1]ity. Mlnlmlslttg Rlsk and M4ximisiDg Imp¢t At N1¢8 w¢ work to risks by.. . Diversifying our funding base and njaking fAral ¢o$tiD8 Vrk for us. - Focusing oll the necd5 of iK>th clients and funder5, while drawing on Ixst prdctice and prof¢$5iollal exF¢rtise. - Strdying wunded in our charitabk aims and actively ¢knll¢nging ours¢lv¢s to rem&in effectivc and r¢levanL Slaylng True to Our Cbarft&ble Alms We believe the key to achi¢ving our ¢bATitable aiDk8 is". - Kwing user lleeds centsal ts how we o>de8ign and develop servi¢¢s. . EJ]suriDg w¢r input is embedded across the orwisatton by engaging local ¢on]muth¢$ and eD¢oufdBiJ]g regular fEEdback . Mllintsinjng a transparenL Coliaborntive apprOh in all out work Vaiukng People and Buitditig a Strong Team W¢ reoognise that the passion and conunitlnent of our stsff al voluDteers is cetstral to our su¢¢e&s. Retaining go1 people is an ongoin8 chaltenge in the charity swtor. and we are conMJittcd to doing our pa We aim to.. - Pay fair and reasonable wage& striving to njatch market levels wh¢r¢veT W)ssible. - Ensure thai 811 stsff are paid at least the London Liiing Wage. - Continually improsE tern]$ and ¢onditions to attrart and Trtsin pcople from diver5¢ backgrounds call help us de]iverow missioll. - EmbTace hybrid working to support stsff wellbeillg and enable a healthy work-lifr balance. PrinclpAI Fwndlng Sourees Nucle% receives fimding from 4 TAriety of sources. as detsiled in Notes 2, 3 a1 4 of tbe accounts. These illche 5tatutQry Lljnding. grants froln chariLibl¢ trusts and Comnl&l orgaT]isatioDs. The charity a]so rnises fjjnds through . umber of spotwr¢d initiatives. We are Proud to havc developcd a broad fiwdingb&8¢ 10 8UPPOrt ouractivitie5. Our SJttder8 include: - The Royal Borough of Kensingtoll and Chelsea . Th¢ Call¥dell Charlties - The London Borough of Ealmg, including via Co50rtiuM lead Eakng Mencap - Money and PeTrsioDS Adviee Sernce ILkb( Free Advice) - Londotl Legal Support Trust L_l___
Nucleus Communlty Aetloll Ltd Report of the Trustees rr th¢ year ended 31 March 2026 SllL4TEGIC REPORT - H¢try Smith Charity - City Bridge Trst - HilliDgdon Advice Partnership - Greater London As8¢bIY Mayo¢s Fund - Julia and Halls Ra]llg Tnt - K + C Foundation We $inc¢r¢ly thank everyone for their colltinued supp)rL Without their eonllllitment and ulerstA1lng of tbe isyue8 W¢ addrws, w¢ would not b¢ abl¢ to deliver our work. Several key fidIll streams. iocluding funding for core services such as housing Advic4 are due to c1 within the llext 12.24 months. At the ttme, our three local authority pathrs e4)lltillue to fa¢¢ SIl[le#llt fitw)cial preswres r¢sulting from the Fair¢T Funding Settlement alld ill¢reasing demand and wsts associated with hom¢kssness. This create5 a height¢tt¢d risk to the reoewal of cxistiug Lontracts and futtTe fidIng, Th¢ potcntilll inwact is reduced income, affccting the sustainability of eote serrices and overall fJnaDcial re5iliellce. We 11 rnitigatc this risk by nIll110g heahhy fiDall¢ial reserves to uJaw¢ bhort-terni gaps, strewkning strategic re]ationships with funders and conl&s1Oners to support contract ren¢wals and fijttre inv¢slm¢nL and continutng to work collaboratively fimders to improve service quality and value for mon¢y. Thi$ includes extendiDg our modernisation progrdtt]n and uslng iDitiative5 wh &g Wyser ASSIST to thive ater efficiency. effectiveness and seThice iunovation. lllvestment Powers Under the Mellxjratth and Articles of Associatiou. the Clwity kn the power to invcst in aDy Vdy the Trustees d¢¢ appropriate. The Charity endeavows to rnaximiy¢ itteolne tl]rough etTeetive of its free financi r4source& Ruerve8 Poll¢y The Directors and Trustees consider it pnellt to fDaiDtaitt an aduate level of ut)restricted reserves to cover the Charitys eontracttMI COD]Trritm¢nts atLd provide sufficient worknDg eapitsl. A m]DID reserve level of between three and ninc rnQDtbs' expendittire has been s¢t. This approach supports our indrpertdetc by eDabling u8 to: - UnderwTite new pn)je¢ts - Protect existing serrices . Provid¢ initial fjjnding (.pp ptiming") fcr work Stff Remuner*tiott and Emerglng Rl8ks The Directors attd Ttee8 have identified tbe availability of adequate dlrect and indireci eonwensation growitig risk to service d¢liv¢ry. While Nucleus has traditionally remaill ¢omp¢titiv¢ by offering indirect benefits-such as flexible working arraogemcnts, P8rtieularlyaroulld hotU¢WQTkillg and caring responsibilities-this landsL2P¢ 15 ¢hanwg. a prossive anti-poverty clwity, w¢ b¢lieve that acting as a 0dE[ employer is ¢¢lltral to out mission. W¢ are con)mitted to ¢ontittually reviewing and proteciing staff rights and remuneratiorL The Tn]ste¢s Teaffim their committllent to developing and maintaining fair and sustawble direct and indirect coll]p¢nsallon for all staff.
Nucku5 Cowmlllllty Aetlon Ltd Report ofthe Trnsteos ror th¢ year ended 31 MArcb 2026 STRATEGIC REPORT Future plans Th¢ n¢¢d for our $¢ryices is greater th¢v¢r. A recent Teview of dem over the post three years showB a dtatrotic rise in the of lple tiiming to us for help.. - Debt advAce ellquirie5 have iDCTeaKdby 231ts - Housing advic¢ ¢n(DJiri¢s have iller&ed by 2120 - Welfare benefits advice enquilies have increased by 211/0 This surge Tefiects a broader trend.. fartw many LA)ndoncr5 ar¢ IiviDg in precarious and iDY¢aW¢ condittons. Low wag coupled with ljigh bousing rosts, mcan housiDg bas becotn¢ inu¢asingly unaffordable. On average. our clients are spending 4(PA of their income on housi with nllny forced b) divert money away from fo1 and heatsllg just to k¢¢p a roof over th¢ir beads. Our cli¢nt tells us that people waDt to rrgain control of their lives- Dot only by accessing supporL but often by building the resilienc¢ to avoid needillg it. What they consiltently gay they D81 15: - Affordabk ]WUSillg . A d¢cent in¢ome or wa8¢ . Fr¢edom from debt Our Con]milment for th¢ Year Abead tn r¢spoDs¢, Nucleus will confinue to grow and adapt our services to ts¢ki¢ povryty and its ¢ffwts Iad)ll. We are cortjtllkttgd to: - Delivering abolistic advice service that integrates IN)usillg. debL and welfare benefits support - Building strong partr¢rships al cimsortia across the statytory alld voluDtary sectors - In4Jrovin8 OUtcot)Ks for people facing cornpl¢x cljallenge& e5peciallythos¢ with health CQDditi¢)Ds By WOTktng collaE)ratively and fo¢sIng on people's real Deeity wè aim help our¢lients move fromcrisis to sthbility - and toward8 amore hoP¢fi ful Charitable and poiltical donatloDS. During the year the C]]arity made rrfy]ili¢al or clwitsble donAtiODS. Governing document The clwAty is controlled by its governing documen( a deed of Intst. and constitute5 & limited ¢otw)any. limited by guardDtce. ag defined by the Con]pani¢s Act 2006. REFEREYL CE AND ADMINISTRATIVE DETAILS Reglstered cou4Y rtumb¢r 01202541 (England and Wales) R¢gtstered Ch4rlty nuJDber 269325 REgl8tsred offlce 298 Old Brompton Rd Earls Court LoDdon SW5 9JF
Nucleus Cornmulllty Artion Ud Report of tbe Trustees for the year endtd 31 March 2026 Trtee5 R W A]lan C Dollknh CEd CGen J R Hi%ock D Murdie Mr8 A NizaTrPoubkn lappotnted 1.7.2025) Company Serretry B Badesha Auditors Grant Harrod Lern]an Davis tI Chartered kncountants StoryAllditQrS S¢¢ond Floor, Kirkland House 11-15 PetertM)rough Road Harrow Middlesex HAI 2AX STATEMENT OF TRUSTEES. RESPONSIBILTfiES Th¢ trusi¢¢s (who are also the of Nucleu¥ Cot]Jmutiiry A¢tion Ltd for th¢ purposes of company law) are reSpo[1b]e for preparing the Report of the TrleeS and the flltstt¢ial 8taments in accordance with applicabl¢ Iaw and United dorn Ac¢ouDting Statthrd8 (United Kingdom GenerallyAccepted A¢¢oulltingPractic¢). Company law requires the t5 to pw fJnanct81 statenmts for finla1 year. Under that law, thc Irustees bave ekcted to prepare the fina181 statsTtThts in accordance with United Kingdom Generally A¢eepted Accoutttitig Practs"ce (United KiDgdom AceoU1ttg Standard& andappb'cable law). ut¢r compally 18v/ the trustees must not &pprov¢ the fiJw)cial thtcm¢nts uDless tbey Ste satisfied that they give a and fair view of the state of affaiT5 of the Charitable company and of the incoming resowces and application of iesouLtes, ilUding the incolne attd expendittwe. of thc ¢baTitable company for that period. In prepariDg those tsncial stat¢nKrnts, the bustees arc trquircd to select suitable a¢countiDg plicies and then Apply them cottsistently, observe tbe methods and pri1p1¢S iti the Charities SORP. Dk¢ judgwDuts and estitnates that aT¢ raSoable pnthDt prepare the flnancial Statrrnts on the going ¢ollc¢rn basis unless it is inappropriats to PTe5ume that the elwitable OtDpauy will continue ID business. The trustees are responsibl¢ for keeping proper aOuntIng rrcords which disc105¢ reasonable accuracy at any tine the financial position of the charitabl¢ ¢ompany alld to enable thcm to ¢llsure that the flnancial statenwits comply with the Companies Act 2006. They also r¢sponsible for safeguarding the assets of tk charitable company and hence for taking reawnable step8 for the prevention and detection of fraud 2nd otPr irregularili¢s. In so far as the trustres are amwe: there is no relevattt Audit illforn)ation of wbich the clwitable compaDy'8 auditors are unaware: and the trL%tces have tsken all steps that they ought to have taken to make thellks¢lv¢s aware of any TeLevattt audit inforTDation alld to establish that th¢ auditOTS aye aware of that ]DforatiO AUDrroRS The auditors, Grant Harrod L¢Trnttn Davis LLP, will be proposed for reThappointment at th¢ foTlheotning Annual Gelle1 E*Ieeting.
Nucleus COMMUlty Aedon Ltd Report of the Trustees for the year eDd¢d 31 Marth 2026 Report of th¢ tee& Incorpting a Strategic repor( approved by OTder of the FM)ard of tsust¢¢$. as thc mpany .. and SIgd on the board's bebalf by.. Tntee NJrtJo Qy tJISoq
Report ofthe Independent Audltors to the Members of Nucleus Cornmunlty Aedon Ltd OpiDioD We bave audited the fitwicial state1rts of Nucleus CoAnmullity Action Ltd (the '¢baritable wrnp4nl) for the year ¢ndcd 31 March 2026 wbich COD]pris¢ tbc Ststennt of Financial Activities. the Balanc¢ She¢i the Cash Flow Statrment and notes to the finawial stateTnents, including a 5umrnary of significant acwunttllg policies. The fJnall¢ial reporting fraT)Thork that has been appli¢d in their prepaTation is applicJble law and Uniied Kiugd(n Accowitittg Standards (United Kingdotn Genetally Accepted Accounting Prnetice). Jn our opinion the financial stat¢])rnts". give & true and fair view of th¢ state of the charitrblc eotnpatty's affair5 as at 31 MAr¢b 2026 and of its incomillg Tesources and appli¢ation of resources, including its iucome alld expenditure, fortbe year then ende¢. bav¢ bEen properly prepared in ac¢ordall¢¢ with United Kingdom Generally Acccpt¢d Ace(Jullting Prartic¢' and have been prepared ar¢ordance i+ith the Tequir¢urtits of the CompaniES Act2006. Basis f•r opinloD We ¢ODthicted our audit in acc4)rdan¢e with International Standards on Audittn8 (iIK) (ISAS (UK)) and appli¢abl¢ l&w. rcspoDsibi]ities vnder thos¢ standards arc fifftber described in the Audit(Trrs' responsibilities for th¢ audit of thc fJDancial statcrnents seetioll of ow report. We ar¢ independcnt of thc charitable con]pany in ac¢ordance witb th¢ ¢thi¢al requirements that pre relewdnt to our audit of the fi]la1 Staterllts ID the UK including the FRC'$ Ethical Staod and we have fillfilled our other ethical responsibilities irL accordarL¢¢ with these TequireDWDts. We believe that the audit evidence we bav¢ obtsincd is sufficient and appropriat¢ to provide 8 basis for our opinio ConclMslon5 rebthil to going eoncern Ill audititig the fllMicial stst¢rnts, we have concluded that th¢ trustees. use of the going ¢ow¢rn basis of accounting in tbe preparation of the fancial statements is appropriate. Bascd on the work we bav¢ perfoLin, have not id¢rtified ally n)aterial uncertaintics r¢latitig to events or ¢¢)nditions thak Individually or ¢oll¢¢tAvely. rnay cast SigD1fillt doubt on th¢ ¢]Jaritable coll]pan5 ability to ¢ontinue ag a going concern foi a period of at least twelve from WINI the fInal81 ststemcttts are authorised for i. Our respoD51bilities and the respoD51biliti¢s of the tr]e5 with ff5P¢rt to going con¢¢rn are deI)ed in thc relev8nt sections of this fppoTt. Other InfornMtlon The tnlee5 8Te rcspoosible for the other infoTtD#tion. The otber infornuuon eomprises the infor0tIon included in the Anmwl Reptro other thaD th¢ finati¢l stwements and our Report of the Independent Auditors thereo Our opinion on the fr1Eal 5tateoMts does llot ¢ov¢r the other ithrrnatioll alld, ex• to th¢ extent otherwi ¢xplicitly sthted in our i¢port, we do not express ally forni of assurance ¢onclusioD thereon. Yn ¢onDectiOD with our audit of the fjnallcial slatrnThts, our respow1lIity is to r¢ad the otheT inf¢)Ention and. ID Ik)in8 so, consider whether the oth¢T iDfornwtion is materially iDCgllSiStent witb the financial ststwents or our kJLowledge obtsined in the audit or otherwise appears to be materially ls$ted If we Adentify sh tsia1 in¢onsisteneAes or apparent IllarIal mi$$tAtements, we are required to deternllne whether this giv¢$ rise to a material llJisstatent in the fJnaLeial staterncnts th¢nWIv. I¢ based on the work we have performed. we ¢on¢lud¢ that the is a material misstatcnrnt of this other infoTmation. wc arc required to report that f¥L W¢ have nothing to reFx)rtin this regaTIL Op1Dlot •ther matters preserlbed by the CoJnpaDle5 Art 2006 In our optni0 based on the workundcrtaken in th¢ ¢ovrse of the audiL th¢ inforn]ation giveD in th¢ R¢port of thc Ttwtees for tbe fitwTrcial year for whi¢b the finan¢iaI sPdt¢ttts are pryared is ¢onsistrTLt 7th the rUwjaI 5tat¢llKnts", and the Repjrt of the TnL5t¢ts h&q been prepared in acrdte with applicable legal requIrn18.
RepDrt ofthe Indepelldemt Audltors to the Members of Nucleus CommuDIty Acllon IAd Mwtters on which we Are requtred ts report by exce10 In thc li8bt of th¢ knowledgc and utmlerthding of the Clwitable company and its environment obtai] in the coursc of th¢ audil WE bave not identifi¢d Durial M1&8tatets in the Report ofik TrJstee8. We have nothillg to Lfport in respect of the following n]att¢rs Fh¢re the Companies Act 2(M)6 requires us to repoit to you if. ?n our opinion: adwt¢ aolting recorib not been kept or return5 Ad¢quate for our audit bav¢ twt been received fmm branches Dot visitrd byw,. or th¢ finwial statements are Dot in agr¢ellt with the accounting recordq and rebJrn4 or certain disclosur¢s of trwfk¢s' renjvneration spxifird by law are not raadc" or we b4ve not r¢¢etved all the iDforDtiOn uplatntions we requirc forour audit ResponbludeS of trustees As explAined more fidly in the statenllt of Tnte¢s, Re¥poJstTrilities, the tnKstee5 (who are also the ditorS of the c]witable tpanY for the purposes of Compally law) ar¢ responsibk for th¢ preparntiott of thc fmancial statenKnts and for b¢ing 8ati5fied that they giv¢ a ITh¢ aud fair view. and for 5ucb iThrual Golltrol as th¢ trustees detern]inc is necessary to enable the prepkrntion of flluncial stat¢llKll¢S tha¢ ar¢ free frommaterial mi55t&temenL Frfhether due to fraud or error. In prcparing the fllwicial statenKnts, th¢ trustees are responsible for aSSing the charitsbl¢ ability colltinu¢ as a going concern, disclosing, a5 applicable. matters T¢lated to going CODcern and using the going cotlcern basis of a¢¢ouNillg unless the tnL8tees either itttend to liquidat¢ the ¢lwritable company or tt) se operations. or have o rea]istic alternative but do so.
Report of the lDdependent Audltors to the Members OI Nudeus CommuDlty A¢tIon Ltd Our re5ponsibi]ities for the udlt of the $ttsments Our objectives are to obtsin r¢&50Tfdble assurance about wberh¢r th¢ finallcial stst¢rn¢nts &q a Ththole aTe fr¢¢ from mat¢Tiai rnisstatcmt, ether thie to fraud or vror. and to issue a Report of the Ind¢p¢ndent Auditors that iludeS Out opiniorL Reasonable &ssurance is a high level of assurance, but 1$ nol a guarantee that an audit conducted in a¢¢dance wIth ISAS IUK) will always detect a material misstatemcnt when it exigts. Misstakments can arise from fraud or error and are wnsidercd rnat¢rial 1£ individually or in tbc a8gregate. they could reasoDably be cxpected to influ¢n¢¢ the economic decisions of users taken on th¢ basis of these financial statcmcnts. The extgnl lo wbi¢h procedures ar¢ capable of d¢t¢cttn8 iegUlaTIti¢S, I]1dIng fraud is detailed below.. W¢ haye Co[ld the nature of tlLe company's iDdusty #nd its control ¢Dviroll¢ll¢ and revi¢d the companJ18 documentstion of their policies and procedures relating to fraud and C4)mpliate with Ind reEulatioDS. We also enquired of mwgement about their ovrn IdeifiCation and assewnent of the tisks of irregularities. We gained UDderstandiDg of the legal a[ r¢gulatory fran¥ork app]icablc to th¢ ¢ornpany a] tb¢ indiisty in wbich it operates and considered the risk of acts by the cornpany which would be contrary to appiieable lavpJ and regulations, including fraud. Thtse AllclLthd but werc ]t IiJnIt1 w compliance with tbe UK'S Con)panies A¢t r¢gulations and thx legislatioJL We also con]muu¢at¢d relevant identified law5 retiOnS and potential fraud risks to all engagetnetti team members attd relnaioed alert lo aDy indieations of fraud or nonry¢ompliance with laws and regulations throughout the audit. We focused on laws andreatiO[lS that could give Iise to a Materi thlsstAtennt in the COD]pally fixwicial statements. Our tests include& but were not linJit¢d to: . R¢vi¢wing the financial statement disclowres and testing to supporting d()CUnntstion to ass¢3$ eompliance with relevant laws and r¢gulatiOllS diseu&sed above; . Enquirie8 ofThaT]ag¢nEnt - Reading minutes of meetiw of the Board. - addressing th¢ risk of fraud though overrAde of control4 t¢5ting th¢ aFwri*ts of & sample of journal entries and other J$tettts' and . Assessing wheth¢r tk judgenKnts made in maknng a¢¢ounting estirnat¢$ are indi¢ative of a poteDtial bia - Evaluating the b]nesS Tationale of any significant I¢tiOnS that are umval OT outside the )rnl of bleSs. A furthr d¢scripti(trtt of our responsibilities for th¢ audit of the financial ststwmts is loc&ted on tbe FiDan¢ial Reporting Council's website at www.frc.org.uklauditorsresprribilities. This description for part of our R¢pon of the Independent AudLtoTs.
Report of the IndepeDdtnt Audltors to the Member5 or Nueleus CojnmuDlty A¢don Ltd U¥ report This report is rnad¢ Solcly to the cbaritable cornpangs members, as a body. in a¢¢ordance witb Chapter 3 of Part 16 Df th¢ Compktiies Act 2006. (kn audit work has been derk¢ll so that we migbt 5ta¢e to th¢ charitable wll1panS menthers thosc D]atters we are required to stste to them in an auditors, rery)rt and for t]0 oth¢r PUryM)se. To th¢ fi1¢t ex¢eDt p¢rtnttted by law. we do not kceept or assume responsibility to anyone other than the charitable cowany alld the haritsble £owpall5 as a body. for our hudit worL for thi8 reporL or for the opinio)Js w¢ have forn1. Jeremy Hala FCCA (S¢A]iw Ststutory Auditor) for and onbehalf ofGrant Harrod Lttman Dayis LLP Cljartered A0vlants Statthry Auditors Seco1 Floor. KiTkland Hous¢ 11-15 PeteoroUgh Road Middl¢s¢x HAI 2AX 2g
Nudeus CottunuDIty Acllon Ltd StalemeD( of Fljwidal Activities ror the year ended 31 Mareh 2026 2026 Total 2025 T¢)tsl UllrESttieted Restrict Notes INCOME AND E1)ow[Ts FROM Donation5 and lewacies 120.221 120,221 34,940 Charftsble Attlvltie Ch&itable aLivity 162245 880.71)0 1,042.945 965,867 lttvestment incorne 15,047 15,(H7 9,604 Totsi 297513 880.700 1.178213 1,010.411 EXPENDITURE ON CbAritAbk rtiwities Cl)aritsbk activiry 256.400 772,759 1.029.159 947.899 NET INCOME Transfers be¢ween funds 41,113 14243 107,941 (14243) 149.054 62.512 14 Ne¢ movement ID funds 55,356 93,698 149,054 62.512 RECONCILIATION OF FUNDS Total funds brougbt fomrd 695.518 484.195 1.179,713 1.117201 TOTAL FUNDS CARRIED FORWARD 750,874 577.893 1.328.767 1.179.713
Nucleus Conunwlty Ltd Balanet Sheet 31 March 2026 2026 Total 2025 Total UnSl Restricted funds FIXED ASSETS Tan71¢ &5s¢ts 287.883 287,883 298.642 CURRENf ASSETS D¢btors PrepAyments and income Cash at ballk 12 37,420 42,346 573,336 37.420 42,346 1,151229 24.650 36.L52 899.847 577.893 653.102 577.893 1,230,995 960.649 CREDITOILS Any)unts tslling due within one year 13 (190.111) (190.1 LI) (79,578) NET c1rRRL ASSETS 462,991 577.893 1,040.884 881,071 TOTAL ASSETS LESS Ci3RRENr 750,874 577.893 1,328,767 1,179,713 NET ASSETS 750.874 577.893 1.328.767 1,179.713 14 750,874 577.893 695,518 484.195 R¢stricted fut TOTAL FUNDS 1.328.767 1,179.713 ents wu¢ approved by the Board of Tnjstees and authoriscd for issu¢ -1.1.:x...l........... aTrl were sigllcd on its bthlf by..
CommllDlty Aclloll L¢d Cash How StstetDellt lor the year ended 31 March 2026 2026 2025 Cash flows frLbtD operatlllg Wrtivltles Casb generated from operations 238.625 18.037 Net cash provid¢d by op¢ratiog activitie5 238,625 18.037 Casb flows from Investhig actlvldes Purchase of tangible fLd assets tnt¢1 rccciv¢d (229)) 15.047 (5,100) 9.604 Net ¢ash provided by iDvestiDg activities 12.757 4,504 Cbangt Ill £A5h and ¢&sb ¢qulvg41ents Ill the reportlng period Cas]E and cash equivalents at the beginmJDg ofthe repordDg pertod 25 1.382 22,541 899.847 877.306 4lld £a$& equlY*lents at the ettd of the reportlng perlod .151229 899.847
Nucleus CouuDullity Aedox Ltd Notes to the Cajh Flow Statement for the year ended 31 Mar¢h 2026 RECONCILTION OF iYET INCOME TO NET CASH FLOW FROM OPERATING ACTivrrIES 2026 2025 Nel Income for the r¢pDrtlng perktyd ($ per the St%tetDeot of Finanelal Af¢Mtie%) Adjllstmcnts for D¢pT¢¢iation cbarges tnterestreceived Incre itt debtors tn¢rwel(decrea8e) in crJitors 149.054 62.512 13,048 (15,047) (18,963) 110,533 l1286 (9,604) (37,907) 19,250) Nrt ¢&8h provlded by operatlolls 238,625 18.037 ANALYSIS OF CHANGL8 IN NET FUNDS At 1.4.25 Cash flow At 31.3.26 Net ¢asb Cash at bank 899,847 251,382 1.151,229 899,847 251.382 1,151,229 Totsl 899.847 251,382 1,151.229
Nucleu5 CoDuDulllty Actlon Ltd Notes to ¢h¢ FIDallclal Statements ror the year ended 31 M4r¢h 2026 ACCOUNJING POLICIES Bsls Df pr¢pthn8 the flllanclal ststemeuts Th¢ fitwicial Statclts of the eharitable conwany, 1¢ is a public bencfit urtity under FRS 102, hav¢ been prepar¢d in aoc0nlale with the Chariti¢$ SORP (FRS 102) 'Accounting and Reportins by Charities: Stat¢n of Recornmended Practice applicable to clwities prcparing their acwunts in acconle with the Financi Keponiag Statthrd applicable iD the UK 2nd Republic of treland (FRS 102) (effective l January 2019).. FI[)Ll&l Reporting StaDdard 102 The Financial Reportin8 Standard applicable in the UK and Republic of Ireland, and th¢ Compatiies Act 2006. The finan¢ial statenKnts have been preparcd under the historical cost Convention. In¢ome All income is r¢¢ogttiscd in the Statemenl of Financial Activities onc¢ the charity has entitlrnt to the fiuth, it isprobable that the incomc wtll b¢ received thc arnount ¢anbe measUd reliably. Expeudtture Liabilitie5 are rSed as expenditure as sth)n as there is a legal or congtructive {l>lilOn coD]nutting the Iwity to that expenth'ture. it iy probable that a transfrr of economic benefit5 Th711 be requiTed settlement and tbe amount of th¢ obligation cao be ro¢asur¢d rcliably. txpcnditur¢ is a¢counted for on an acerua]s ba8is and has b¢¢n classified under h¢adings that 88gregat¢ all c05t rclated to the category. Wh¢re cost5 cannot be directly attributed to particular headings they have been aUocat¢d to activities on f4 basis consistent with the Lse of TDglble fjx£d assets Dq)Icciatiori 15 provided ai the following allnual rates ill order to write off ucb asset over its thinated ruI Leasehold Propety- 2Yo on cost Plani and machin¢ry- 25V/o on cost Cixnputer equipnTht- 50(/*¢J on cost TaxAtion The chatyty is exempt from wryoTatiim t&K on its cbarityblE artivities. Fwid accoulltiDg UnrestrACted funds canbc ed in acc4xdae with the elwitsble objectives Y4t the discretion of the tru5tepA. Restrictcd funds can ollly be used forparticular restricted puryN)sGs within the objects of the charity. Restrictions arise when specified by tlke donor or when fiuMl$ are rnised for particular r¢stri¢ted pw)oses. Further expiallation of the nattrc 8nd pw¢ of each fjjnd is included in the notes to the fiDan¢ial statelnents. DONATIONS AND LEGACIES 2026 2025 DonatioD5 120221 34.940
Nudeus Cojnmunlty Atrfon IAd Notes to the Flllandal StstenDts- tIllued for the year ended 31 Marth 21126 INVESTMEL¥T INCOME 2026 2025 Deposit ¢0llt ititerest 15.047 9,604 INCOME FROM CHARABLE A[lEs 2026 2025 Activity Charitsble activity 1.042,945 965,867 Grants received includd in thc a]x•ve, arc as follow5: 2026 2025 Mayor'5 Fund Incorne from Room Hire Stud¢nt Placement Donations 50,633 14,436 240 7.875 13.427 4,620 543 65.309 26.465 CIL4RITABLE AcrlvTT COSTS Support costs (5 note 6) Direct Costs Totsls Cbaritsble aetivity 980251 48,908 1.029.159 SiIPPORT COSTS 05ts Cbaritable tIlty 48,908 IYET INCOMEI(EXPENDfnJRE) Net incomGl(¢xpw1trC} is statcd allcr ¢bargiDFJ(creditin8).' 2026 2025 Auditors, remutati0n Dyeciation. QWD¢d aSts 14,740 13,049 12,160 12,286
Nudeus COmmuty ActkhD L¢d Notes to the FIllat1 Sttements- fontinued ror tb¢ yer tnded 31 March 2026 TRUSTEES, REMi7NERATION AND BENEFITS Ther¢ were no trustees, remUnloD or benefits for the ar ¢nd¢d 31 Marcb 2026 nor for the year end¢d 31 Mar¢h 2025. Thistees, expellses There were DO tru5t¢¢s' expenses paid forthe year ded 31 March 2026 nor forthe year ended 31 MAwh 2025. STAFF COSTS 2026 2025 Wage8 and salari 857,365 667.{4 857,365 667.094 The averaB¢ of ¢tN)loyees duriD8 the ycar w&s as follows.. 2026 20 2025 16 Advice 18 The numbet of employtts whose ¢mployec bcn¢fiL5 (exch1n8 employcr pcn5i¢Jn ¢08ts) eXce¢d £60.0(M) was.. 2026 2025 £60.001- £70.000 £70,001- £80.000 111. COMPAIi4TIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES Unrestricted Restricted Total ll¥COME AND Ef+4DOIVMErqrs FROM Donations and legaci¢s 34940 34940 Cbarltsble ¢tlvltles ClJaritabl¢ ¥tivity 247.522 718,345 965.867 Investment income 9.604 9,604 Total 292,066 718,345 1,010,411 EXPENDITURE ON Cb&rltAble activities ctwitablr activity 35S.242 592,657 947,899 NET INCOTrW(EXPENDIfiJRE) (63.176) 125,688 62.512
Nucleus CojwnuMIty Aethn Ikd Notes to the FIDanctsl S¢atellwnts- eontlnued for the ye•r ended 31 Mareh 2026 io. COLIIPAIL4TIVES FOR THE STATEMEi¥T OF FINANCYAL ACTtVlTl&g- contlDued Unrestrlctcd R¢$tricted fjjnds Total RECONCILIATION OF Ft]M)S Total fidS brought forward 758.694 358,507 1,11720E TOTAL FtJNDS GIRRiED FORWARD 695,518 484,195 1.179,713 11. TANGIBLE FIXID ASSETS ETeeknld prop¢ty Platrt and Compu machinery equipn)cnt Totsls COST At l April 2025 Additions 486,757 104222 5.1(M) 2,290 596.079 2290 At 31 March 2026 486.757 104222 7,390 598,369 DEPRECIATION At l April 2025 Charge for year 190,665 9.735 104222 2.550 3.314 297,437 13.(H9 At 31 Marrh 2026 2(Ml,4(K) 104222 5,864 310,486 ET BOOK VALUE At 31 Marcb2026 286J57 1.526 287.883 At 31 Marrh 2025 296.092 2,550 298,642 12. DEBTORS.. AMOUNTS FALLING DUE WH1N ONE YEAR 2026 2025 Tnde debtors Other dcbtor5 33,391 4,029 22297 2.353 37.420 24.650
Nueleus Comwunlty ActloD Lld Notes ts the FIDaDcial stst¢llts- conthiued for the yeAr ended 31 March 2026 13. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2026 2IF25 Trth ¢reditors Social security and other Qther creditors 4,507 12.861 30.539 31.671 18.429 35.825 129.633 190.111 79.578 I& MOVEME LN FUNDS N¢t TraDsfrrs moyement between in fi]ods At 1.4.25 31.3.26 Unrestrlcted funds General fiwd stsff ¢onting¢ncy fuDd Building uwint¢nau¢e Furniiure and equipm¢n¢ COpUtrr development Newoffice fund 348,518 185.0(M) 85,0(K) 12,IMKI 20,IMX 45.(KM) 41,113 14243 403,874 185,(M)O 85,(M)O 12.(M)O 20,WO 45,(X)O 695,518 41.113 14.243 750,874 Restricted fulld8 Debt free LondOno¢e Hall Campden clmrities Money proiccl- City BridgeTrust Specialist HoUSin2dvICeILLsT Redundancy Ac¢e%s to justiee KeDSiti8ton + Chelsea foundation National Lottery [BElill8 HSG GLA Ealing Hou%iDg Lonth)n Borougb of Ea]ittE Fuel Grant 115,943 149.637 25.418 22,520 857 4.642 80.612 9.601 9.171 37.144 28,650 65,559 (15,261) (8.683) 4.540 181,502 134J76 16.735 27.060 857 (4.fr12) 81266 161.878 (9.601) 13,858 (18,105) (15233) 23.029 19.039 13.417 4g4,195 ID7.941 (14.243) 577.893 TOTAL FUNDS 1.179,713 149,054 l J28.767
Nucleus ConuDUDhy Action Ltd Notes to the FlnaDdl S¢4tements- cDntlnll¢d for the yer ended 31 March 2026 14. MOVEMEKf IN FUNDS- contillued N¢t mov¢m¢nt in fiuKts. included in the above are &¥ follows.. tll¢oJning sources Resources Movement Uttrestri¢t¢d funds General fund 297.513 (256,41K>) 41.113 Restrfieted funds Debt free lA)toIT0ybeg Hall Can]pden charities Mon¢y project- City BridgeTht Specialist Housinadle&LLsT K¢ttsillEton + CheLsea foation LBEIEaliAg HSG GLA Ealing Howing London Borougb of Ealing Fuel Grant 313,535 77.031 45.833 50,634 251,158 18J42 124.167 (247.976} (92.292) (54,516) (46,094) 1169.892) (4.484) (142,272) (15,233) 65,559 (15,261) (8,683) 4,540 81.266 13,858 (18,105) (15,233) 880.700 (772,759) 107,941 TOTAL Fi7NDS 1.178.213 (1,029.159) 149,054 Comp•rattYes for mov¢ment In tndS Net At 1.4.24 31.3.25 iJnrestrlcted fId5 General fund Stsff contillgency fiD)d BuilditLg maint¢ll 411,694 185,0 85.000 12,000 20,000 45,0(N) (63.176) 348,518 185.000 85,000 12.000 20,000 45.000 Computer development New officc fijnd 758.694 (63,176) 695.518 Debt free tA)ndo)]Ifonybee Hall Mon¢yproj¢ct- City BiidgeTrus¢ Specialist HoUSinadY1¢&QLsT 41,600 24,569 14,449 857 145.611 4.642 9.356 9.601 74.343 849 8,071 115.943 25.418 22.520 857 149,637 4,642 28.043 9.601 9.171 37.144 52.569 28,650 Debt ¢outLs¢I]iDglCampden Access to justic¢ K18tn + Chelsea fouTrdation National Lottery LBEI]llg HSG GLA Ealing Housing Kens'illgton + tI$¢a FoundatioD Ldon Borouth of Ealiti8 Fuel Grant 4.026 18.687 9.171 24.533 6.863 (20.855) 12,611 45,706 49.505 358,507 125,688 484,195 TOTAL FUNDS 1,117,201 62,512 1,179.713
Nuelew Commlltslty Adlon Lld Notes to the FIDanctsl S¢a¢¢mellts- contlnu for the ellded 31 March 2026 14. MOVEMENT tN FUNDS. tAtied Cornpardtivc net movemcnt in fiIDd4 included in the above ar¢ a8 follows: lllc¢)ming rwurces R¢sourees Movement expelldcd Unregtricttd fvnds fimd 292.066 (355.242) {63.176) Re51rided fwnd$ Debt free IxJndowTonybee Hau Morley proje¢t- City BrIdgeTnt Sp¢¢ialist Housinadvic¢lLLsT Debt cOUDselliuCartWde Kensington + Chelsea foundation LBELIng HSG GLA Ea]ing Housing Kmsington + Chelsea Foundation London Borough of Ealing Fuel G[t 182.592 49.742 39,762 77,268 255.891 9.171 24.533 55.238 24.148 {108,249) (48.893) (31.691) (73242) {2372ts1) 74,343 8.071 4,026 18,687 9.171 24,533 6,863 (20.855) (48.375) (45,003) 718.345 (592,657) 125,688 TOTAL FUNDS 1,010.411 (947.899) 62,512 15. RELATED PARTY DISCLOSURES There were no related party traOnS for the year ended 31 Mawh 2026.