Do¢usign Envelo ID.. 6EE798AA-CB2eA9FWC9-AOFA737CSe60 Charity registratlon number 296034 Company regSslratlon number 01963453 {England and Wales) BARONS COURT PROJECT LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Oocuslgn Envelope ID.. 6EE798AA£82fv49FD44C9-AOFA737C5860 BARONS COURT PROJECT LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Andrew Magowan {Chair unlil 16th September 2024 and resigned on the same day} (Resigned on 20th May 20241 {Appoinled as Chair on 161h September 20241 (Appointed as Treasurer on 16th September 20241 Deborah Holl Andrew Mccoll Michael Edward Pope Agala Ellioll Shauleen Mpofu Sue Fennimore Yvonne Obuaya Caryn Van Niekerk Slan Rlthards (Appointed on 20 May 2024} (Appointed on 16th September 2024) (Appointed on 16th September 2024) (Appointed on 02 June 2025) Secretary Michael Angus Senlor Management Team Michael Angus Charlty number 296034 Company number 013453 Reglstered offlcè 69 Talgarth Road London W14 gDO Independent examlner Samlr Shah FCA. ATII Ramon Lee Ltd Charlered Accourilanls 93 Tabemade Slreel London EC2A 48A Bankers Nalwesl Bank PIC W6 OQD 22 Kings M311 Hammersmilh London Webslte www.baronsc ro ecl or
Docuslgn Envelope ID.. 6EE798AA-cB2MgFtk84cAOFA727cS86O BARONS COURT PROJECT LIMITED CONTENTS Page CHAIRMAN'S REPORT Tnjstees report Independent examlnerfs report 10 Slalemenl of finandal #clivilies 11 Balance sheet 12-13 Slalemenl of cash flows 14 Noles lo the financial slalemenls 15-30
Docusign Envel¢we ID.. 6EE798lA.C8264D44c9-A0FA737cS86O BARONS COURT PROJECT LIMITED CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Michael and the team have had another successlul year supporting the Barons Court Proiecl's {BCPI guests and have done a great job in diversifying our funding with some fanlaslic corporate partnerships. Their generosity and Ihe continued support from Hammersmith and Fulham Council has helped the BCP remain a vital part ol the local community. As highlighted by the case studies lo which Michael refers. the BCP has a significant and long-lerm impact on our clients, lives, and I thlnk this is why Michael 8nd the team are so successful in finding new partners and donors. HomeLexs Made continues lo go from slrenglh to slrenglh and we look foard lo welcoming even more artist and prole¢l$ In the year ahead. As always there have been unexpected challenges during Ihe year. These have been mel and overcome because Mlchael and his slaff and our guests ahvays embrace Ihe spiril of the BCP and have worked together to keep the show on the road. We expect lo see conlinued need in the years ahead lo broaden our strategies lor funding and evolve our offering. particularly as government budgets gel lighter and lighter. The planning ol celebrations for the 40th anniversary are well afool and. in particular, Ihe Raise the Roof campalgn could have a huge impacl on the Project and sel11 up for the nexl 40 years! Once 8g8in. I congr8lul8te Michael and his team. our partners and sponsors. and all our guests on keeping the BCP al the heart of the communily and maklng a huge dlfference to the lives of the vulnerable In Wesl London. Si34q11124OF... Andrew Mccoll Chair ofthe Managèment Commlttee 121512025 Date..
Docusign EnveloKe ID.. 6EE798M-C82N9FD-84C9-AOFA737C5860 BARONS COURT PROJECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present Ihelr annual rerKJri and financial stslemenls for the year ended 31 March 2025. The financial slalemenls have been prepared in accordance with Ihe accounting policies sel OLTrI in nole 1 to the nancial slalemenls and comply with the Charily's Ichaiilable company limited by guaranleel. the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended PTaclice applicable lo charities Pfeparing their accounts in accordance wilh Ihe Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 102)" leffeclive 1 January 20191. Objectlves and actlvltles The oblecl. for which the charity was eslabllshed, as staled in the Memoiandurn and Articles of Associalion. 18 10 provide services for people vulnerable through mental heallh problems and homelessness in the Hammersmilh 8nd Fulham Area. We achieve our objectives by runnlng a Drop4n Day Centre at our operallon81 addres5 and lo provide practical. supportive and empowering seNices lo vulnerable people. Achlevements and performance The pasl year has been Incredibty busy. when you gel lo Ihe slalislics you will be able lo read the oulpuls that we have delivered and the Impact Ihey have had. all designed lo care for the needs of our guests In Body, Mlnd or Spinl. As well as Ihe day lo day work the have been some incredible Ihlngs to feport (most posillvell: In May we were pleased lo welcome Shauleen Mpofu lo our Board. Shauleen fjfted us aftèr meeling me 81 Speed Matching Event organised by The Fore Trusl al Blackrock'5 Offices. In June we were privileged lo host a visit ffom the United Slales olAmerica, professlonal lennls player, Ben Shellon. The visit was or9anised wilh the Lawn Tennis Association and one of our partners. City Harvesl, who deliver food lo the project that would olherwise go lo waste. Ben was playing in the Cinch Tennis Touin8ment at our neighbours The Queen's Club. Ben not only had a loui of Ihe sile lo leain about our service and what we offer. bul also mel two of our HomeLess Made Arlisls and heard from them about the diffeience we make. You can see a film ol the visit on YouTube. In Augusl a crack appeared in a ceiling in the office below mine. Thankfully we evacualed the office immediately, as over the weekend the ceiling collapsed. My then Chair asked if I had been dolng my best River Dance Impression In my office an¢J If this had caused the collapse. but as I have two left feel. dancing Is not on the agenda. The debris, damage and dust was incredible, bul many of our supporters responded lo a call lo help fund the works necessary to clear the space, repair wiring. install a new eeiling, decoiale Ihe office and pul down new carpel. In September Stephen Cowan. Leader of HammersmÉth and Fulham Council. caTne lo officially open otjr new Garden. The garden makeover. which is phenomenal, had been undertaken by Rohan Web51er and his leam from Sludio Monlagv. They worked very hard in Iheir own lime, working pro bono. whilst the BCP paid lor materials. Thanks lo a National Lollery Grant and using some money IiorD a Legacy ffom the Late Alderman Kenneth Michael Cariwrighl, we were able to complete the WOTks. The space is (Jeeply apprecialed by community. We also used this opportunity lo thank Andrew Magowan. Previous Trustee and Chair for B y8ars of setvice lo the proje¢l and lo wish him well. Two new Irustees joined lo strengthen our board. we are grateful to Caryn Van Niekirk and Yvonne Obuaya for joining the team. In October we were approached by Chelsea Foolball Club and The Cheslea Foundation who presented to us their fir51 Chri51mas Campaign. We would feature in a campaign lo WrapUPWarm Wesl London's Rough Sleepers. 11 would feature Cole Palmer with his signature rubbing of his biceps. as a way lo relate back lo people being warm. There were so many elemenls lo Ihe campaign induding donations of brand-new Chelsea FC Merchandise, including warm winlef Coals. a cameo appearan in the slar-sludded advert. artides about our wod< on Ihelr website and social media. a visit lo the project lo meet oui guesls by Levi Colwill. Tosin Adarabioyo and Marcus Bellinelli and finally trie bein9 interviewed pitch side al Iheir game on Boxin9 Day. The campaign raised
Docusign Envelope ID". 6EE798AA-CB2649FD-84C&AOFA737C58fAJ BARONS COURT PROJECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 £90,000 for projects working lo end rough sleeping. To be selected to partner with Chelsea FC and work with a global brand was incredibly special, il not daunting. bul the team from the dub and foundation have been a joy lo woik with and the partnership conlinues. In November we were selected as The Legal Direclor's Chosen Charily, Ed Simpson and his team have undertaken fundraising events for us. allended the project and have been great lo partner with. December is OLFr bLFsiesl month bul wofks to inslall new water tanks in the Loft had lo be done. This resulted in the project having no running water and therefore having lo close for fvvo days. Thankfully our friend5 al 245 Hammersmilh Road responded lo a call and provided a space for us lo move lo. showers for those that needed them. care packages for our guests and even pul in a Christmas Tree lo welcome Ihetn. We were supposed lo have 8 Christmas Dinner on those days hosted by The Hillon Olympia, bul sadly this could not lake place, bul they were good lo Iheir word and came in Febiuary and cooked a very specbal meal for the community. In February we were selected as Taylor Wessing's Charity Partner lor the next three years. 11 has been greal 10 See this partnership develop and we have enjoyed meeting people Iiom the team and hostin9 staff in volunteering roles. All part ol our strategy to widen support. The year ended in March with people from The Legal Direclor undertaking The London Ik for us and The Chelsea Supporters Trusl doing their annual sleepoul al Chelsea FC. for us and Sloll Veterans Houslng Assoclallon. Statlstlcs and Outputs: Guest Demographlcs: 850/0 were Male. 150/0 Female. 12% were under 25, 47% aged 2544. 36% aged 45*5 and 5% were 65+. 35% were disabled under the Equality Act. Body - the practlcal servlces to meet the baslc human needs of those Ilvlng on our streets 900 people supported with over 21x1 new guests. 11,170 allendanees (many more via remote supporil 8.247 meals 5,787 showers 1.827 loads of laundry 2.051 items of dolhing dislribuled and many more ordered and sent to the asylum seeker team. 33 Podiatry Appointments 41 Oral Hygiene Checks 65 Referrals lo GPIDenlisl 78 Hairculs 61 Eye Tests and Free Glasses 21 had sexual health advice and screening 8 bowel cancer screening 72 guests h8d Mental Heallh Appointment with nurses on sile 300 Asylum seekers were supported with clothing and olhei ilems in partnership with the Council's Asylum-seeker learn.
Docusign Envelope10". 6EE7g8AA.C82gFDl4c9-A0FA737C586O BARONS COURT PROJECT LIMITED TRUSTEES REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Mind- 1-1 support to help acces$ housing. benefits and employment. The Project Workers dellvered: 965 1-1 advice sessions lo 470 individuals. Supported 180 rough sleepers inlo accommodation (75% prlvale rented, 10% supported housing, 15% hostels.. outreachlst Mungo's). 220 benefit support appoinlmenls Made 30 referrals for immigration suppoTVLegal ¢1. 70 people recelved employment support with 25 successfully galnlng employment (some as self-employed dellvery drlvers). Made 10 ESOL referrals. Splrit- Our Activities Programme that enables Ilfe In all Its fullness Prolecl Workers organlsed group outings lo.. Cinerna, Thames Cruise. Kew Gardens, Chelsea FC Malcli, Sladium Tour & Chrlslmas Dinner. Theatre, Football. MinGo1f, Ping Pong. Tennls and Laser T8g. Art classes are run Iwlce weekly by a guesl volunteer. A weekly Women's Group meets with on average 8 parti¢ipanls for wellbeing. Reported Improvements: 690/0 guests reported an improvement In physical wellbeing. 74% an improvement in emotional wellbelng and 830 Teduclion in social isolation. Case Studle$'. Ilnltlals have been used for anonymltyl. Case Study- L'$ Journey- From Homelessness to Hope L. a 35-year-old woman of European and African heritage. became homeless after losing her lemporary aecommodalion arranged by a north Lorbdon Council. Delays in resolving her immigration status and difficulties in accessing domesliG violence support services leli her wilhoul options. fofcing her lo sleep rough in Hammelsmilh & Fulham. During this period, she was Introduced lo Ihe Barons Couri Proieci IBCP) by anolher guest. We Provided her wllh breakfast and lunch. showeis. laundry and elean dolhing. L faced numerous Inlersecling challenges.. homelessness, $ubslance misuse. unresolved Immlgralion mallers, significanl menlal heallh difficulties. 8nd the trauma of domestic abuse. Reco9nising the complexity of her needs, BCP acted swiftly. connecling her with Glass Door's winlei nighl shelter and coordi4)aling with a range ol professionals including outreach teams. women's refuges. council departments. and social workers-to develop tailored support plan. Through ongoing support and inter-agency collaboralion. L has made remarkable progress. She has remained free from her abuser for over a year an¢J has successfully oblairbed EU Sellled Status-a vilal slep lowards long-lerm slabilily. Currenlly, she is living in lemporary counc¢l 8ccommod81ion and receiving support from the Wesl London Mental Healih team, where she is undergoing an ADHD assessmenl. Now feeling more emolionalty grounded, L is actively woiklng on her reeovery fmm subslance misuse and engaglng with mental health setvices. She is also exploring part-lime employment opportunities. Her long-lem aspiration is lo reunite wilh her children once she feels lully stable and ready. L's journey illuslrales Ihe resilience of individuals facing adversity and highlights the vital role of consistent. compassionate sUPPOrt. With the righl resources and guidance. she is rebuilding her life arbd moving toward a hopeful, independenl fulure.
Docusn Envelope ID.. 6EE798AA-C82649Ftk04CgAOFA737C5860 BARONS COURT PROJECT LIMITED TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Case Study- S's Journey to Stability and Independence Background: S is a 28-year-old male originally from Erilrea. Following his eviction from Home Office accommodation. he faced approximately eight monlhs of homelessness. allernaling between rough-sleeping and sofa-surfing. During this lime, he engaged in precarious, cash-in-hand employment and experienced instances of exploilalion. Inltlal Contact.. S was referred lo us Ihrough an outreach team. Working dosely wilh them. we were able lo secure a place for him In a hostel and subsequently referd hlm lo Glass Door and Lea Bfidge supported houslng. Support Provlded- We offered S a range of tallored support seNlces to help him regaln stability= Houslng Asslslance.. Relerral lo supported housing. Employment Support.. Creation of a CV. employment advice. and referral io an ESOL {English for Speakers of Olher Languages) course at Wesl London College. Practlcal Help.. Provision of meals. showers. la¢Jndry facilities, a SIM card. and clothing donations. Flnan¢lal Support: A travel voucher from Ihe Winter Supporl Fund lo assist wilh Iransportalion to his new accommoiialion and lob Inlerviews. Progress: S is now in stable housing and has allended several job inleNiews. He is currently awaiting responses from potential employers. Addilionalty, he is on the waillisl for a Level 3 ESOL course, which commences in September. Outcomes and Relleclion$'. S's outlook has significantly improved. The initial long waillisl for ESOL had caused feellngs of hopelessness, bul with housing stability and communily conneclioiis. hi5 morale has lifted. He has made many Eritrean ffiends through 8CP and feels oplimislic about his future in London. Grateful lor Ihe support he received. S has also expressed a desire lo give back by volunleering, saying he feels "very lucky lo come here." Corporate Partners Our plan was lo increase our Corporate Partners, 8s Ihey are incredibly important lo us. en8bling us lo do Ihings th81 we would nol be able lo undertake vAlhout them. We have been pleased lo continue lo work with: Olympia Events, Immediate Media, The Sytner Group. Tales Es181e Agen1$, Sybarile, The Legal Direcior. and Taylor Wessing. We hope to increase Ihis lisl furiher in the cDmin9 year. HomeLess Made HomeLess Made conlinues lo grow. Sales increase¢J by 50Qh in the past year. We are delighted Ihal we have many more slockisls across the counlry and in the very heart of London at Sl MaTlin-in-Ihe-Fields, who have a long history of supporting people experiencing homelessness. We are indebled lo our partners that have enabled us lo exhibit al Top Drawer and trade al Ihe Ideal Home Christmas Show. We have held a number of successful art exhibitions across London including al the Adelphi Building. Immediate Media and The Posl Building. Pop-up stalls have given us a chance 10 Sell our cards wilhout people having lo buy online and pay postage. and we have been al Ihe Hammersmilh Summer and Wnler Festivals. Wandsworth Bridge Road. and in office blocks across Ihe cily. Running these stalls is also a gieal way for volunteers lo help us. Our vison is that 'everyone Can live the life they deseNe'. Our work is done with kjve al the heart. lo enable thi5. Love for our guests who may not feel loved. so that they can love themselves and in turn olhers. We are grateful lo all who have sUPPOrted and enabled us to jOUTney through the year wilh Ihose we seNe and hope Ihal Ihis will continue in the year ahead.
Docuslgn Envelope10.. 6EE798AA-CB2649FD-84C9-AOFA737C5860 BARONS COURT PROJECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financlal revlew The Slalamenl of Financial Aclivilies showed nel SLtrplus of £30.454 (2024 - Sufplus £70.7771 for the year and reserves sland at £578.08512024 - £547.6311. The financial position al the year end revealed by the Balance Sheet shows net currenl as5els 01 working capilal 01 £298,662 {2024- £264,377>. The nel book value of fixed assets held, 811 of which are used direclly for chaiitable purposes, amounted lo £279,423 (2024- £283.2541- In 2018. London Borough of Hammersmilh and Fulham transferred the property 69 Targarth Road. London W14 9DD valued al £240,000 to the charity lo lurther ils aims and objectives. The property is recognised as a reslllcled fixed asset in the financial slalemenls. The nel book value ol the property is £201.600 al the year end and is shown 8s a restricled fund balance carried foThvard. Investment Powers and Pollcy Investment decisions for Barons Court Projecl are taken on Ihe advice of the Managemenl Committee whose members have a finance. inveslmenl or commercial background. Barons Court Project's investment policy is lo hold some reserves in a deposil account Prlnclpal Fundlng Sources The main funding sources for the charity are grants and donation$. Breakdown of the Charily's funders are provided on pages Notes 3 and 4 to the Financial slatemenls. Reserves Policy The Management Commitlee has considered the level of reserve whlch should be maintained wilhin the Charity and this is reviewed annually. Such resevves are needed lo cover the worklng capllal. the risk of possible shortfalls In chaiilable income and other contingencies. As al the year end, flnanclal slalemenls showed reserves 01 £578.08512024 - £547.6311, ol which £202,51812024 - £207,935) was reslricled. The Tiuslees have set aside designated funds tolalling £245.00012024 - £220.0001 for spedlic purposes as follows= 1. The Major Repalrs Contlngency Fund We wanl lo ensure our building is very well m8inlained. il is a home lor Ihose that ¢Jo nol have one. We Iherelore hold a fund for major repairs and renewals that we nNghl need lo make lo keep Ihe building in lop shape. Al the year end the fund had a balance of £30.000. 2. Tanglble Flx8d Assets Tangible Fixed Assets funded by unreslricled funds fecoonlsed separately from General Funds which are ffeely avaiable lor expenditure. Al the year end the fund had a balance of £77.823. 4. Social Enterprise Manager HomeLess Made continues to grow and deveFop. We will use funds lo pay for this part Ilme role for a year from 1 sl January 2026. Al the year end the fund had a balance 01 £31,000. 5. Bulldlng Extonsion We are exploring the option lo convert the allic into another floor. Archilecls have been commlssioned to draw plans and we will seek lo fltnd works lo add capacrly to our cenlre. Money has been pul aside lo work on this. At the year end the fund had a balance of £36,121. 6. Exlsting Committed Funds Existing commilled funds repTe5enl financial resources specificalty allocAled lo support project workers in the upcoming fancial yeais. These funds are essenlial lor ensuring Ihal we can effeclively manage and sustain our project. providing Ihe necessary support and resources for our slaff. Al the year end. Ihe fuiid had a balance of £70,056. The charity's free reserves al the en¢J of the year slood 81 £130.565 (2024 - £119,6961- This is calculated by taking unreslricled funds, lolalling £375.567. and deducting designated funds of £245.(X)O. The charity aims lo have 3 monlhs running cosis in reserves to ensure ujntinuity.
Oocuslgn Envelow ID.. 6EE798AA-CB2EA9FD-84AOFA73?Cs8eI) BARONS COURT PROJECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In line with the Charity Commission guidance free reserves are calculaled as the Charity's unreslricled nel assets that are freely available lo spend wilhoul negalively impacting the Charily's operalions. The Management Committee has sel a largel range of free reseNes based upon an allalysis of Ihe potential financial impacls of 5i9nificanl risks identified through Ihe Chaiily's risk management framework, weighted for likelihood and impact. The princlpal sources of information which were laken Into account when selling the reseeS target range Ineluded= R15k management framework Bijdgels and foiecasis ta'n9 inlo account expected sources of income and their slabilily along wilh èxpected costs. Cash flow lorecasls A going concern review undertaken as part of the year end proce53 Plans for future periods Rough sleeping continues lo rise and the fulure cx>nlinues lo be unknown. We have submilled 8 p18nning application lo 'Raise the Roof and converi our loft. as well as building oul onlo a flat oof al the back of the property. With ever increasing numbers ol guests. needing our services, we need more Space. For the past iwo winters. guests have come in after a nighl on the slreels and have had lo sll on the floor In the lounge or sland in the calé lo eat their meal. this slmply Isn't the welcome we wish lo provlde. By converting the loft into a purpose built art sludio and group work room, reordering our spaces and extending the laundry lo increase PTovision and storage, we can provide the warmesl of welcomes. The works wlll Increase the spa¢e available for guesls lo use by 45¥•. Barons Court Project turns 40 in Ihe coming year as we have plans for a year of celebrations and events that wlll look back, Yesterday, Take Stock, Today and plan for the future, Tomorrow. We will Continue lo seek lo work with new Corporate Partners and increase the income slream that we have. We will ensure there are plenly of opporlunilies for many more people to gel involved, because we know 51 is together, only together that we wlll end homelessness. Structure. governance and management Governing Document Barons Court Project Limited Is regislered as a company Ilmiled by guarantèe And not havlng share capllal. Its operations are governed by ils Memorandum and Articles ofAssocialion IM&AAI. The company was incorporated on 22nd November 1985 and registered as 8 charity on 26th January 1987. The charity registration number Is 296034 and the company registration number is 01963453. Appolntment of Trustees As sel out in the Articles ofAssociation. the Chair of the Trustees is nominated by Barons Court Project Limiled. The Directors of the organisalion are also the charity Truslees lor Ihe purposes of charily law. The Board of Tfuslees have power to appoinl addilional Truslees as il considers fil lo do so. The Trustees have no beneficial interest in the company olher than as members. When considering vacancies for membefship. the Chair of the Managemenl Commiltee will first examlne member skills audits lo identify any skills gaps. Suilabie applicanls woukj then be soughl Iiom.. Cur¥enl Managemenl Committee members {allhouoh Management Committee members are advised lo avoid recommending people who are close colleagues. friends 01 ielatives as this may affecl the balance and objeclivily of the Management Committees as a whole). Local area advertisement Local Volunteer Cenlre Individual applications {direcl enquiies lo BCP Irom members of publicl Specialist recruilment organisalions, such as REACH. Business on Board and so on.
Docuslgn Envel¢)pe ID.. 6EE798AA-cB2H9F[WA0FA737cS86O BARONS COURT PROJECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organlsational Structure Our organi5alional slruclure is made ol up lo eleven members. HoweveT, there are cuirenlly only nine servicirig. They meet a minlmum of four times a year lo develop strategic plans and feview the operational guidelines and policy of the Project. The Managemenl Commillee holds a range of reserve maller 8nd delegates eertain authority lo the Directof in ofder lo run the organisalion efficiently. Mallers such as policy. slfalegy and budgets are Pfepared by the piojecl team for consideration and approval by the Management Committee members who then monitor Implemenlalion of this plan. Rlgk Management The Management Committee has a duly lo idenlity and review Ihe risks which the Charity faced and pul in place appropriate controls to prowde reasonable assurance. Risks are identified and assessed al differenl levels against the agreed strategic aims and objectives. Periodic reports are provided lo Ihe Managemenl Commillee members highlighting Ihe key risks in specific areas and significanl changes in lisks. Health and safety moniloring is carried oul by the Director on a regulaf basis lo implement policy and prOdreS Risk is an everyday part of Ihe charilable activity and managing il effectively is essential il the Injstees are to achieve Iheir key objeclNes and safeguard their charity's funds and assets. Thelefore, Ihe Project has developed an appropriate Risk Management Framework which consists of the Risk Management policy and Ihe Risk Management procedures as outlined in the Projecl operational guideline5. The Project has an efficienl reserve policy lo miligale againsl finanaal risk by selling up a designaled fund lo minimi5e the impact of unexpe¢led lall in Income and provide lor rise In charitable aclivilies and opeialional cost. Inducllon and Training of Nèw Trustees Management Commlttee members have a detailed undeTslanding aboul the scope of Ihe Prolecl's operallons, having had 8 lour of the project. New members of Ihe Managemenl Commillee are given an information pack onsisling of the Charity Commission guide "The Essential Tnjslee". together with a copy of the Memorandum & Artlcles of Association. the Project's own Govefnance Guideline and a copy of Ihe lalesl audiled financlal slalemenls. The Management Committee receive regular updates abovl the adivilies of the Oropln Centre from the Oireclor al the management commlttee meellngs. Related Partles The ehérily has relationships wilh relaled parties and other charities and organisalions with which il co-opeiales In pursuil ol ils chaiilable ol'eclives. Public Benefit Statement In shaping our objectives for Ihe year and planning our aclivilies. the Iruslees have considered Ihe Charity Commission's guidance on public benefit, including the guidance 'public benefit.. funning a charily {P02}. The achlevemenls and aclivilies above demonslrale the public benefil arising Ihrough the Charily's aclivilies.
Docusign Envelope ID: 6EE798AA.CB2649FM4C9-AOFA737C5860 BARONS COURT PROJECT LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees responsibilities The Trustees. who are also Ihe direclors of Barons Court Project Limited for the purpose of company law. are responsible for preparin9 the Tiuslees Report and the financial slalemenls in accordance with applieable law aad United Kingdom Ac¢oLtntsng Standards {Uniled Kingdom Generalty Accepted Accounting Praciice). Company Law requires the Trustees lo wepare finanual statements foT each financial year whlch glve a true and fair view of the slate of affairs of the Charity and of Ihe incoming resources and application of resources, including the income and expenditure, of the charitable company for Ihal year. In preparing Ihese financial statemenls. the Trustees are requlred lo- select suitable accounlino policles and then apply them consislentty: - observe the methods and principles in the Charities SORP: - make judgements and estimates that are reasonable and prudent-, and prepare the financial slalemenls on Ihe going concem basis unless il is inappropriate lo presume Ihal the Charlly will conlinue In operalion. The Trustees are responsible fof keeping adequate accounling records thal disclose with reasonable accufacy 81 any lime Ihe financial position ol the Charily and enable them lo ensure that the financial slalemenls comply with the Companies Acl 2006. They are also responsible for safeguardin9 the assets of the Charity and hence for lakSng rea50nable steps for Ihe Pfevenlion and detection of fraud and olher irregularilie3. The Truslees report was approved by Ihe Board of Directors and Trustees and signed on its behalf: S•d by.. OJ280580S*1240P . Andrew Mccoll Chalr 121512025
Docuslgn Envelope ID.. 6EE7g8AA-CB29FD-84¢9AOFA737C586o BARONS COURT PROJECT LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BARONS COURT PROJECT LIMITED I report lo the Truslees on my examination of the financial slalemenls of Barons Court Projecl Limiled {Ihe Chafityl for Ihe year ended 31 March 2025. This report is made solety lo the charity's Iruslees. as a body. accordance with Ihe Chariknes Act 2011. My work has been undertaken so that I might stale lo the chaiity's Iruslees Ihose mallers l am required lo slate lo Ihem in an independent examinei's report and for no other purpose. To the fullesl exlenl permilled by law. I do not accept of assume responslbilily lo anyonè olher than the eh81ily and the chariV$ ITusiees as a body. for my Independent Examination, for this report, or lor Ihe opinions I have lormed. Responslbilltles and basls of report As the Trustees of Ihe Charity land also ils d1clorS for Ihe purposes of company law) you are resptsnsible for the preparation of the financi81 slalemenls in accordance with the requirements ol the Companles Ael 2006 Ilhe 2006 Act). Havsng satisfied myself that the financial slalemenls of Ihe Charity are nol required lo be audited under Part 16 of the 2006 Act and are eligible for indepen(Jenl examination, I report in Tespecl of my examinalion of Ihe Charity's rinancial slalemenls carried oul under Section 145 of Ihe Charities Act 2011 Ilhe 2011 Acll. In carrying out my examination I have lollowed all the applicable Directions given by the Charity Commission under section 145151{b) of the 2011 A¢1. Independent examlner's slatement Since the Charily's gross income exceede¢J £250,000 your examiner musl be a member of a body lisled In secllon 145 01 Ihe 2011 Act. I confirm Ihal l am qualified lo underfake the examination because l am a mefflber of the Inslilule of Chartefed Accounlanls of England and Wales {ICAEW), which is one of Ihe listed bodies. I have compleled my examination. I confirm that no matters have ¢ome lo my allenlion in conneclion with the èxamlnallon givlng me cause lo believe Ihal In any malerial respect.. accounting records were nol kept in respecl of the Charily as required by seclion 386 of the 2006 Acl,. or Ihe financial slalemenls do nol accord wilh Ihose records. or Ihe financial slalemenls do not comply wilh the a¢counling requirements of seclion 396 of the 2006 Act other Ihan any requirement that the accounts give a true and fair view which is nol a matter considered as part of an Independent examination; or the financial 51alemenls have not been prepared in accordance with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporling by chariliès applicable lo charities preparing their accounts in accordance with Ihe Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no olher mallers in conneclion wilh the examinalion lo which allenlSon should be drawn in this report in order lo enable a proper Lbnderslanding of the financial slalemenls lo be reached. Slgn•rfby. eFA6I4218?IIF4CE... Samlr Shah FCA, ATII Ramon Lee Ltd Chartered Accountants 93 Tabernacle Street London EC2A 4BA 10.12.2025 Dated: 10-
Docuslgn Envelope ID.. 6EE798AA482fA9FD-84A0FA737C5B6o BARONS COURT PROJECT LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted Deslgnated Restrl¢ted funds funds funds Total 2025 Total 2024 Notes Income from: Donations and legacies Charitable aclivilies Other trading activities Investments 173.766 161,113 31.947 2.797 173,766 301.626 31.947 2.797 192,762 329.486 22.186 1.615 140.513 Totsl income 369.623 140.513 510,136 546,049 Ex enditure on.. Raising funds 64.724 64,724 56,068 Chanlable activities 269,028 145.930 414.958 419.204 Total expendlture 333,752 145.930 479,682 475,272 Nel movement In funds 35,871 {5.417} 30.454 70,777 Gross transfers betsveen funds (25,0) 25,OLKJ Net Incomlnglloutgolngl resource8 10.871 25.O¢XI 15.417) 30.454 70,777 Fund balances al 1 Aprll 2024 119.696 220.000 207,935 547,631 476,854 Fund balances at 31 March 2025 130.567 245.0 202.518 578.085 547,631 The slalemenl of firtaneial aelivilies InclLtdes all galns and losses recognlsed in the ye8r. All Income 8nd expendilure derive from conlinuing aclivities. The slalement ol financial a¢livilies also complies wilh the quIrernents for an Inrne and expenditure account under the Companies Act 20L%. 11
Docusign Envelope ID.. 6EE798AA-CB2s49Ftk84AaF737CSe6O BARONS COURT PROJECT LIMITED BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 12 279.423 283,254 Current assets Slocks Debtors Cash al bank and in hand 13 14 7.302 15,311 370,142 7,840 17.565 308.558 392.755 333,963 Credltors: amounts falllng due wlthln one year 15 (94.093) 169,5861 Nel currenl assets 298.662 264,377 Total assets less current Ilabllltles 578,085 547.631 Income funds Reslricled funds Unreslricled funds Designated funds General fund$ 17 202,518 207,935 18 245.000 130.567 220,000 119,698 375,567 339.696 578,085 547.631 12-
Docuslon Envelope ID.. fjEE798M-CB2fA9F84AoFA737C586o BARONS COURT PROJECT LIMITED BALANCE SHEET (CONTINUED) ASAT31 MARCH 2025 The company is enlilled to the exemption from the audit requirement contained in section 477 of the Companies Acl 2006, for the year ended 31 March 2025. The members have not required the company to obiain an 8udil ol ils financial stalemenls for Ihe year in question In accordance with section 476. The directors a¢knOedge their responsibililies for= ensufing that Ihe chaiilable company keeps accounling records that comply wlh Secllons 386 and 387 of the Companies Act 2006 and preparing financial stalemenls which give a Inje and fair view of Ihe slate of affairs of the charitablè company as al the end of each financial year and of ils surplus or deficii for each financial year In accordance wlh the requirements of Sections 394 an¢J 395 8nd which otheiSe cofflply with the requirements ol Ihe Companies Act 2006 relating lo finanoal slalemenls, so lai a5 applicable lo the charitable company. These financial slalemenls have been prepared In accordance wlh Ihe provisions applicable lo companies sublecl lo the sm811 companles regime. 121512025 The finan¢ial slalemenls were approved by the Trustees on and were slgned on their behalf by.. pntd by.. In180J81isr240P': Andrew Mccoll Chalr Company reglslrailon number 01963453 13-
Docusign Envelope ID.. 6EE798AA-C8264gFD-84A0FA737cS86O BARONS COURT PROJECT LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating actlvlties Cash generated from operations 21 87,235 53,615 Investlng actlvltles Purchase of tangible fixed assets Investment Income received (28.448) 2,797 {50,598) 1.615 Net cash used In Investlng actlvltles {25.651) {48,9831 Net eash used In flnanclng actlvltleg Net Increase In cash and cash equlvalenls 61,584 4,632 Cash and cash equlvalenls al beglnnlng of year 308,558 303,926 Cash and cash equlvalents at end of year 370,142 308,558 14-
DocuswJn Envelope ID.. 6EE798AA.C82649FD-84CWFA737G5860 BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcleg 1.1 Accounting convention The financial slalemenls have been Prepared In accordance with Ihe Charily's Icharitable company limlled by guaranleel, the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland. {'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable lo charities prepallng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland (FRS 102). (effeelive l January 2019). The Charity Is a Public Benefit Enlily as defined by FRS 102. The financial 51alemenis are prepared in sterling. which Is the functional currency of the Charlty. Monetary amounts in Ihese financial slalemenls are rounded lo the nearesl £. The financial slalemenls have been prepared under the hislorical cost convenl¢on with items recognlsed 81 cosl or Iransaclion value unless olheNlse slated in the relevanl nole(sl lo these aOn(s. 1.2 Golng concern The Charity's Financial Slalemenls show nel surplus 01 £30,454 lor the year and free resee$ of £130,567. The Iruslees arè of the view Ihal these results have secured the Immediate fijture of the Charily for the nexl 12 monlhs an(1 on this basis the Charity is a going concern. 1.3 Charltable fund8 Unreslrlcled funds are available to spend on aclivilies that further any ol the purposes of charlly. Deslgnaled funds are unreslricled fund5 of the chailty whleh the trustee5 have decided al Ihell dlscrelion lo set aside lo use for 8 spe¢ific purpose. Reslricled funds are donations which the donor has specified are lo be solely used for particular areas of the charlly's work or for specific projects being undertaken by the charity. 1.4 Income All Income Is Included In Ihe consolidaled SOFA when the charily Is legalty enlilled lo 11. recelpt Is probable and the amount can be measured with sufficienl reliability. Grant Income Grants are credited lo the SOFA when the charity 15 enlilled lo the lunds. Income Is only deferred where Ihere are lime conslrainls imposed by Ihe donor or il Ihe funding is perlormance related. Where enlillemenl lo grants receivable Is dependent upon fuifilmenl of condlllons within the charltys control, the income is recognised when there is sufficient eviden Ihal conditions will be mel. Grants supporling the core activities of the charity and wilh no specific reslriclions placed upon Ihelr use are included within donalions and legacies. Granls that have SPeriC reslriclions placed upon their use are included wilhin income from charitable aclivilies. Capital grants for Ihe purchase of fixed assets are credited lo reslricled incoming resources on Ihe earlier dale of when they are reIVed or feceivable. Deprecation on Ihe related fixe¢J as5els Is charged against the reslr¢cted fund. 15-
DocusSgn Envelope ID.. 6EE798AA-cB2649F[84c9-A0FA737cS86O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Continued) Donatlons and Legacle5 Donations are recognised in the peiicMI in which they are received. Legacy Income is re¢ognised when the charity's entillemenl is ludged lo be probable and where the amount Can be reliabty measured, Contract Income Income from chArilable 8clivilies include income TecLJgnised as earned {as the related goods and servlcès are provided) under contract. Investment Income Investment income 15 included when recelvable. 1.5 Expendlturo Expenditure is recogni5ed once there Is a legal or conslruclive obligation lo transfer economic benefit lo a third pariy, it is probable that a transfer ol economlc benefits will be required in selllemenl, and the amount of the obligalion can be measured reliably. Expenditure is classified under Ihe following activity headings: Cos1 ol raising funds comprises the costs in Inducing others lo make voluntsry contrlbullons lo the eharlly and Iheir assoeialed support costs. Expenditure on charilable acliwlies includes the cosls direclly associaled with supporting people with mental health problems and homelessness in the Hammersmilh and Fulham area, lo further the purposes of the Chafity and Iheir associated support cosls. Irrecoverable VAT is ch8rged as a co81 against the activity for which ihe expendilure was incurred. Allocation of Support Costs Support costs ale those functions Ihal assist the work of the charity bul do nol (Jireclly undertake charitable acllvilies. Support costs include back office costs, management, finance and adminislralion personnel, payroll and goveinance costs which supporl Ihe Charily's programmes and aclivltles. These costs have been allocated lo expendilure on charitable aclivilies. 1.6 Tanglble fixed assets Tangible fixed assets are slated al cosl less depreeialion. Indivldual fixed assels costing £SOO or more are capilalised al cost. Tangible fixed assets purchased from feslritled funding bul for general use ore transferred lo unrestricted funds. Depreciation Is recognised so as to write off the ¢0st or valuation of assels le5S their re51dual values over Ihelr useful lives on the following bases.. Freehold land and buildings Building Improvemenl Fixtures, Filling5 an¢J Equipment 50 years S years 20% slralghl Ilne The gain or loss arising on the disposal of an assel is delemiined as the difference between the sale proceeds and Ihe carrying value of the asset. and is recognised in the statement of financial aclivilies. 16-
Docusign Envelope ID.. 6EE798AA-CB2PA9F84coFA737c586O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policles (Contlnuedl 1.7 Stocks Stocks are staled al Ihe h)wer of cosl and eslimaled selling price less costs to trjmplele and sell. Cosl comprises direct malerials and. where applicable. diiecl labour costs and those overheads Ihal have been incurred in bringinu Ihe stocks lo their present location and condilion. Item5 held for distsibuliori al no or nominal consideralion are measured the lower of replacemenl cosl and eosl. Nel realisable value is Ihe eslimaled selling prlce less all eslimaled costs of completion and cosls lo be incurred in marketing, selling and dislribulion. 1.8 Cash and cash equlvalenls Cash and cash equivalents include cash In hand. and short leim cash deposits. 1.9 Flnanclal Instruments The Charity only has finandal assets and financial Ilabililies of a kind that qualify as basic financial Inslrumenls. Basic financial Instruments are inllially recognised al Iransaelion value and subsequently measured al Ihelr selllement value with the exception ol bank loans whlch are subsequenlly measured 81 amortized cost using Ihe effective interest melhod. 1.10 Taxation The Charity Is a regislered charity and. Iherefore. Is not liable for Income Tax or Corporallon Tax on Income derived fr¢m115 charilable aclivilies, as11 falls within Ihe various exemplions available lo regislered charllles. 1.11 Credltors and Provlslons Creditors and provisions are recognised where the charily has a presenl obligation resutting from a past event that will probably result in Ihe transfer of funds lo a Ihird party and the amount due lo settle the obligation can be measured or eslimaled rellabty. Creditors and piovisions are normally recognised al Ihelr selllemenl amount afler allowing lor any Irade diseounls due. 1.12 Volunteers and Donated Servlces and Facllltles Donaled professional services and donated facililies are recognised as Income when the chaiily has control over the item, any cor¢dilions associaled wilh the donated item have been mel. the receipt of economlc benefit from the use by the charity of Ihe item is probable and that economic benefit can be measured reliably. In accordance with the Charilies SORP {FRS 1021, Ihe general volunleer lime ol Ihe Charily is not recognised in the maln body ol the financial accounts bul detsil Is contained in the Trustees report. On receipl, donaled Professional services and donated facilities are recognised on the basis ol the value of the glft lo the charily which is the amount the charity would have been willing lo pay lo oblaln serwces or facililie5 of equivalent economic benefit on the open maikel., a corresponding amounl is then recognised In expendilure In the period of receipt. 1.13 Debtors Trade and olher deblors are recognised al the selllemenl amount due aller any trade discount offered. Prepayments are valtjed al Ihe amount prepaid nel of any trade discounts due. 1.14 Operating Leases All leases are operating leases. and rentals are charged lo the Slalemenl of Financial Activities on a slraighlline basis over the lease duration. No assets are held under hire purchase agreements. 17-
Docusign Envelope ID: 6EE798AA-cB2eA9Ft8C&A0FA737Cse6O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Crltlcal accountlng estlmates and ludgements In the applicalion of Ihe Charity's accounting poliues. Ihe Tnjslees a required to make judoemenls, eslimales and assumplions aboul the carrying amount ol assels and liabilities Ihal are not readily apparent from other sources. The eslimales and associaled assumptions ale based on hisloiical experience and other factors that afe considered lo be relevant. Aclual resulls may differ from these e51imates. The eslimales and undedying assumptions are reviewed on an ongoing basls. Revislons lo accounting eslimales are recognised in Ihe period in which the eslimale is revised where the revision affect5 only that period, or in the period of Ihe revision and luture periods where the revision affects both current and future periods. 18-
Docusrgn Envelope ID.. 6EE798AA-CB2649FD-84C9-AOFA737C5860 BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donations and legacies Unrestricted funds Total 2025 Total 2024 Assala Energy UK Ltd Charity of Sli Richard Whittinglon Donations Lyne and Longcross PPC Marsh Charitable Trust Mr J D Pegg - Executor for Ihe Late Kenneth M C8rtwtlghl Souter Charitable Trust The Albert Hunt Trust The Girdlers. Company Charitable Trust Hammersmilh Apollo Limited Otympia Limited Garfield Weston FoundalSon The Alma Je8n Henry Chari18ble Trusl The Speedomick Foundation The Sloll Foundation The William Allen Young Charitable Trust The Charlolle B0nharCarter Charilable Trust 25,OCKJ 25,000 20,000 10,000 58,562 1,150 73.2 1,350 850 73,290 1.350 850 50,000 3,000 2,000 10.000 13.650 2.950 2,000 10,000 13.650 2.950 12.150 1,208 7,525 25,000 25,000 1.000 2.IXIO 11,676 5,000 25,000 1,000 2,000 11.676 5,000 4,167 173,766 173,766 192,762 19-
Docustyn Envelope ID". 6EE798AA-cB29FD-84c9-A0FA737Cse6O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities Charltable Income Total 2025 Total 2024 Access Foundation Grant (Social Investment Business Lldl ACTS 435 A Fair Deal Action Research Fund Boeing Dr Edwards Bishop Kings Fulham Charity Earls Court Community Fund French Huguenol Church of London Charitable TTUSI Hammersmilh United Charities H&F Giving- Wnler Support Funds Hawksford Trustees Jersey Ltd Julia Rausing Trust L8 of Hammersmilh & Fulham- 3SIF LB of Hammersmilh & Fulham- Addttional Funding LB of Hammersmilh & Fulham- MHG London Calalysl- Sainafilan Granl Mrs Smith & Mount Tiusl Homeless Llnk-A Falr Deal Grant Other Donation Resillence Grant Slreels ot London The Chaflotle BonhanFCarter Charitable Trust The Daisy Trust The D'oyly Carte Charitable Trust The Earls Court & Olympt8 Charily The Friends of Charing Cross Hospital The Hollick Family Foundation The Light Funds The London Community Foundallon The Mahoro Charitable Trtssl The Sir Jules Thorn Charitable Trust The London Community Foundation- Cost of Living Crisis The Nallonal Lollery Communily Fund Truslhouse Chaiitable Foundation UK Harvesl Lld Vinlers. Foundation 5,500 440 5,000 14,571 575 575 5,495 17.750 s.0 4.167 8.000 7.395 25,000 49,140 75.C(JO 32.240 1.500 5,495 17,750 5,000 4,167 8,000 7,395 25,000 49,140 75,000 32,240 1.500 7,000 9.167 19,780 47.250 75,000 30,000 5,000 430 368 430 368 500 15.(KlO 4,000 3,000 2,100 15.000 4,000 3,000 2,100 3,500 1.400 5,000 3.000 5.833 3,000 5.833 5,175 5,292 12,500 5,833 3.000 12,500 5,833 3,000 4,286 78,333 5.000 3,935 3,935 2,000 5.000 2,000 5,000 Drop-in café income 4,365 4,365 2.292 301,626 301.626 329,486 Analysis by fund Unrestricted funds Reslricled funds 161,113 140.513 161.113 140,513 164,542 164.944 301.626 301.626 329,486 -20-
Docuslgn Envelope ID". 6EE798M-CB2649FWCMOFA737C5860 BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Other trading activities Unrestricted funds Total 2025 Total 2024 Income from Homeless made card sales 31.947 31.947 22.186 31.947 31,947 22.186 Investments Unreslrlcted funds Total 2025 Total 2024 Bank Interest 2.797 2.797 1.615 2,797 2,797 1,615 Ra181ng funds Unrestrlcted funds Total 2025 Total 2024 Slaff costs Other fundrAlslng costs Share of Support C051s (See nole 91 Share ol Governance costs (See nole 9) 56.420 5,079 3,078 147 56.420 5,079 3,078 147 40.930 10.357 4,658 123 64.724 64.724 56,068 21
Docusign Envelope ID.. 6EE798AA-cB29FLWc9-AoFA737c586O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltable activities Drop-ln and outreach Total 2025 Total 2024 Staff costs Deprecialion and impairmenl Computer supporl and l.T. maintenance Temporary projecl worker Volunteer costs Premises costs Consumables Trips and Guests. Aclivilies Drop-ln Expenses Direct cost- Home{lessl card sale5 Profil share of Homelless) Gard sales 212,432 9,800 5,625 975 1,262 43.486 12.132 8,881 10,827 14,745 9,747 212,432 9,800 5,625 975 1.262 43,486 12,132 8,881 10,827 14,745 9,747 133,067 10,271 1,050 27.446 11,080 18,001 60,151 13,614 6,229 329.912 329.912 280.909 Share of 5UPPOrt costs (see nole 9) Share of govemance costs {see note 9) 81.173 3.873 81.173 3.873 134.745 3,550 414,958 414,958 419,204 Analysls by fund Unreslricled funds Reslricled funds 269,028 145,930 269,028 145.930 247,179 172,025 414,958 414,958 419,204 -22-
DocusEqn Envelope ID.. 6EE7&BAA-CB2649FD-84C9-AOFA737C5860 BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs The Charity initially idenlifies the costs of ils support functions.11 Ihen Identifies those costs which relate lo the goveinance function. Governallce costs and other support costs are apportioned separately between charity's key activity undertaken {see notes 7. 8) in the year. All the general support and governance costs are allocated ID aclivilies at different percentages. based on staff lime and the number of seNice delivery hours attributable to each activity. Support Governance costs Costs Total 2025 Total 2024 Staff costs Depiecialion Recrullmenl and training Premises Communications eosl Computer support and l.T. maintenance Professional expenses Insurance 88nk charges Sundry expenses Independent Examiners fee 19,294 22.479 7.111 4.832 4,940 5,624 11,124 4.060 910 3,877 19.294 22.479 7,111 4,832 4,940 5,624 11.124 4.060 910 4,097 3,800 69.045 22.709 11,952 6,861 5,517 5,274 10,953 3.741 769 2,655 3,600 220 84.251 4.020 88.271 143.076 Analysed belween Fundraising Charitable aclivilies 3,078 81,173 147 3,873 3,225 85.046 4,781 138,295 84,251 4,020 88,271 143,076 10 Net movement In funds 2025 2024 Nel movement in funds is stated aftef chargingl{credilingl Independent examination Depreciation ol owned tangible fixed assets 3.800 32.279 3,600 22.709 11 Employees The average monthly number of employees during Ihe yearwas.. 2025 Number 2024 Number Direct project work Fundraising Strategy. setvice management, finance and administration Total -23-
Docusign Erivelope ID.. 6EE798AA-c82649F[84c9-AOFA737c&96O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Employees (Continued) Employment costs 2025 2024 Salaries Nalional Insurance Pension 265,603 15.098 7,445 227,338 14,605 6.317 288,146 248,260 The 8verage monthly number of per60ns employed by Ihe charity durlng Ihe year was 6 {2024- 51- No Truslee received any remuneralion during the year (2024 - £niD. No Trustees recelved relmbursed expenses during the year12024 £nill. The key management personnel of the charity comprise of the Executive Officer. The lolal employee benefils Ilncluding employer's penslon conlrlbulion) of the key managemenl personnel of Ihe charity wero £68,726 12024- £67,734). The number of employees whose annual remuneralion was more than £60,(X)O Is as follow5.' 2025 Number 2024 Number £60,0001 £70.000 12 Tanglble Ilxed assets Freehold land 8ulldlng Flxlure5. and bulldlngs Improvemenl Flttlngs and Equlprn8nl Cost Al 1 April 2024 Addilions 240.000 103.s99 9.363 65,968 19,085 409,567 28.448 Al 31 March 2025 240,000 112,962 65,053 438,015 Depreciatlon and Impaimient Al l April 2024 Depiecialion charged in Ihe year 33,600 4.800 59,016 18.077 33,697 9.402 126,313 32,279 Al 31 March 2025 38,400 77.093 43,099 158.592 Carrying amount Al 31 March 2025 201.600 35.869 41.954 279,423 At 31 March 2024 206.400 44.583 32.271 283,254 -24_
Docusign Envelope ID.. 6EE798AA-CB2649FD44COFA737c586O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 13 Stock5 2025 2024 Finished goods and goods for resale 7,302 7,840 7,302 7,840 14 Oebtors 2025 2024 Amounts falling due within one year: Trade debtor¥ Other debtors Prepaymenls and 8ccnJed income 233 1,711 13,367 1,089 1,828 14.648 15,311 17,565 IS Credltors: amounts falllng due wlthln one year 2025 2024 Notes Other taxation and sodal securlty Deferretj income Trade creditors Other creditors Accrued expenses 5,540 70,056 1,78S 48 16,664 8,155 31,595 24,881 16 4.955 94,093 69.586 16 Deferred Income 2025 2024 Movements in the year.. Deferred income al 1 April 2024 Released from previous periods Resources defeired in the year 31.595 (31,5g51 70,OJf6 83,491 {83.4911 31,595 Oeferred Income al 31 MaTth 2025 70,056 31.595 Deferred income represents grant income 01 £6.250 from Earls Court Community Fund5. £4.167 from The Hollick Family Foundalion, £4,167 from The Mahofo Charilable Trust. £12.500 from The London Community Foundation, £14,955 from The National Lollery Community Fund. £5.833 from HaTnmer5fTiilh United Charities and £22,165 froffl Hawksford Ttuslees Jersey Ltd. -25-
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Docusign Envelo ID.. 6EE798AA-CB2&49FLk84C&AOFA737C5860 BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Designated funds The income fun(Js of the charity include the following designaled funds which have been sel aside out of unreslricled funds by the Iiuslees for specific purposes- 8alanc8 at 1 Aprll 2023 Tr•nsfers Transfers Balanc• ot 31 March 2025 1 Aprfl 2024 Second Fundraiser Social Enterprise Manager Information Technology Major Repairs Contingency Fund Tangible Fixed Assets Garden Project Commilled Funds - Oeferre(J Income Bulldlng Exlenslon 30,(MXI 40,000 20,000 29,836 44.164 2.000 32,000 40.000 {32,000) 19,000) 31,000 (20.OW) (19,073) 32,688 {6.000) 31.595 28.790 10.763 76,852 19.237 971 30,000 77,823 31,595 28,790 38,461 7,331 70.056 36.121 170,000 50,OQKI 220.000 25,000 245,000 Second FundraSser - As we need to work on new funding streams. we are going lo appoint a second fundraiser lo work on bringing in (und5 from events. communily sources and corporate partnerships. Social Enlerprfse Manager - HomeLess Made conllnues to grow and develop. We will use funds lo pay for thls part lime role lor the nexl Iwo year5. Soclal Enterprlse Manager- HomeLess Made continues lo grow and develop. We will use funds lo pay for this pari lime role lor the next h¥0 years. Informatlon Technology - We need lo overhaul out IT and have allocated funds lo cover new haftlware and the support costs. The Major Repalrs Conlingency Fund - We wanl lo ensure our bullding is very well maintained. il Is a home for those that do not have one. We Iherefofe hokl a fund for malor fepaiis and renewals that we might need lo make to keep the building in lop shape. Tangible Flxed Assets Tangible fixed assets funded by unreslricled funds recognlsed separalely from General Fund$ which are freely available for expenditure. Garden Project - Our garden is ulilised all year round in all weathers. il acts as another room. We have been given the chance lo work wilh an amazing lan(Jscaper. who is offering his Ilme pro bono, lo undertake works lo make the gaiden more appealing and useable throughout the year. Commltted Funds - Exisling commilled funds represent financial resources speclfically allocated lo support project workers in the upcoming financial yeai. These funds are essential for ensurin9 Ih81 we can effectively manage and sustain our Pfoject. providing the necessary support and resources foi our staff. Bulldlng Extenslon - We are exploring Ihe oplion lo convert the altic inlo another floor. Archttects havè been commissioned lo draw plans and we will seek lo fund woiks lo add capacily lo our cenlre. Money has been pul aside lo work on Ihis. -28-
75
Oo¢uslgn Envelope ID.. 6EE798AACB2gF84AOFA7J7CS86O BARONS COURT PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Related party transactions There were no disdos8ble related party transactions during Ihe year (2024 - none). Llablllty of Members The charity is constituted as a company limited by guarantee and does not have a share caplt81 dlvided by shares. 21 Ca h generated from operations 2025 2024 Surplus for Ihe year 30,454 70,776 Adjvslmenls for: Investment income iecogni5ed in slalemenl of finanual aclivilies Oeprecialion and impairment ol tangible fixed assets (2.797) 32.279 11,615) 22,709 Movements In Wofklng capital.. Decreasellincreasel in slocks Decreasellincreasel in debtors {Decrease}lincrease In creditors Increasel{decre3se) In deferred income 538 2.254 (13,9541 38.461 13,9021 16,0141 23,557 {51,896) Cash genèrated from operallons 87,235 53.615