REGISTERED COMPANY NUMBER: 01976639 (F4ngland and Wale5)
REGISTERED CHARITY NUMBER: 517222
Report of the Trnstees and
Unaudited Financial Statements
for the Year Ended 31 December 2024
for
Priory Project Limited
Ashmole and Co.
Williamst()n House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 IPX
A.hmole & Co.

Priory Project Limited
Contents of the Fin2ntial Statements
for the Year Ended 31 December 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activitie5
Bydlance Sheet
5 to 6
Cash Flow Statement
Nol¢s to the Cash Flow Ststement
Notes to the Financi31 Statements
9 to 16
Detailed St¥dtement of Financial ActivllSes
17 to 18

Priory Project Limited
Report of the Trustees
for the Year Ended 31 December 2024
The trustees who ar¢ also directors of the charity for the purposes of the Companies Act 2006y present their report with the
financial statements of the charity for the year ended 31 December 2024. The tru5te¢s have adopted the provisions of
Accounting and Reporting by Charities.. Statement of R¢wmm¢nded Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I
January 2019),
OBJECTIVES AND ACTtVITIES
Objectives and aims
To promote, empower and support, the well being of people with learning disabilities, within a home environmenl in county
of Pembrokeshire.
signifi￿nt aetlvities
The principal activity of the company during the year was the operation of a regi5ter¢d horne for adults wilh learning
disabilities.
Priory Project provid¢s life skill training opportunities and support for a better quality of life for our residents. We work with
our r¢sidents to ¢n¢ourage them to become as independent as possible according to th¢ir ability. Residents are supported by
staff who offer the highest possible stsndard of care. Residents have choice and are encouraged to make decisions for
themselves in all matters. It is considered that these activities further the charitys purposes for the public benefit.
Public benefit
We have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing
our aints and objectives and in planning out future activities.
FINANCIAL REVIEW
Finan¢ial position
The charity has made a loss during the year, Throughout the year the charity has recruited one extra member of staff, whilst
the resident numbers have lowered from 8 to 7 during 2024.
Raserves policy
The trustees have a policy to ensure that sutTicient reserves are mainlained al all times in order to ¢n5ure that the charity may
continue operating during periods of reduced or uncertain fimding sources.The current level of free reserves amounts to
£509,387 (2023 £583,673) which equates to approximately 10 months of nornial charitable expeT]diture.The Charity's
reserves policy is to hold at least 6 months of annual expenditure which equates to £304,358. so the free reserves of
£509,387 is in excess of this figure.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its governing documenL a deed of trust, and constithtes a limited company, limited by guarant¢¢,
s defmed by the Companies Act 2006.
Memorartdum and Articles of Association incorporated 13th January 1986 as amended by special resolution of 5th
September 2007.
Organisational structure
The orgattisation is managed by the board of th￿¢eS who, along with th¢ nwiageress of the home hold regular meetings to
review the charitys progr¢ss, Th¢ tn￿tee$ are all unpaid from the charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company Dumber
01976639 (England and Wales)
Page I

Priory Project Limited
Report of the Trustees
ror the Year Ended 31 December 2024
Registered Charity number
517222
Reglstered office
Priory House
l￿wer Priory
Milford Haven
Pembrokeshire
SA73 3UA
Trustees
P Carlquist
Dr K R¢ad (resigned 15.5.24)
Ms L Turner
Ms K Gray
Mrs P A Hany
W Skeels
I P Bernard (appointed 16.7.24) (resigned 6.9.24)
Independent Examiner
Ashmol¢ and Co.
Williamston House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 IPX
Approved by order of the board of trustees on 13 May 2025 and signed on its b¢half by:
£fL.
Ms L Turner- Trustee
Page 2

Independent Examiner'5 Reporl to the Trustees of
Priory Projeet Limited
Independent examiner's report to the trustees of Priory Projeet Limited ('the Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibillties and basis of report
As the charity's trustees of the Cornpany (and also its directors for the purposes of company law) you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 (Yhe 2006 ACV).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and
are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out
under S￿tIOn 145 of the Charities Act 2011 ('the 2011 Act?. In carrying out my examination I have followed the Directions
given by the Charity Commission under Section 145(5) (b) of the 2011 Ad.
IDdependent ¢xamiD¢r'5 Statement
sin￿ your rharity'5 gros5 income exceeded £250,000 your examiner must be a member of 8 listed body. I can confinn that I
am qualified to undertake the examination because l am a member of th¢ Association of Chartered Certified Accountants,
which is one of the listed bodie5.
I have completed my examination. I confirni that no matters have come to my attention in connection with the examination
giving me cause to believe:
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 ACL or
the accounts do not accord with th05¢ r¢cords' or
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of an independent
examination. or
the accounts have not been prepared in accordance with the methods and principles of the Statrrnent of
Recommended Practice for accounting and reporting by charities (applicable lo charities preparing their accounts in
accordancc with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be
drawn in this rcport in order to enable a proper understanding of the accounts to be reached.
W G Hughes
The Association of Chartered Certified Accounlants
Ashmol¢ and Co.
Williamston House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 IPX
Page 3

Priory Project Limited
Statement of Financial Activitfies
for the Year Ended 31 December 2024
31.12.24
Total
funds
31.12.23
Total
funds
Unrestricted
fund
Restricted
nd
Notes
INCOME AND ENDOWMENTS FROM
Donations and l¢gaci¢s
19
19
Charilable aclivities
Operation of Registered Home
570,162
570,162
647,261
Investment incom¢
Oth¢r income
14.606
596
I4,606
596
4,056
2,751
Total
585,383
585,383
654,068
EXPENDITURE ON
Charitable actfivitles
Operation of Registered Home
608,717
608,717
536,284
NET INCOMEI(EXPENDITURE)
(23.334)
(23,334)
117,784
RECONCILIATION OV FUNDS
Total funds brought fotward
852,690
70,469
923,159
805,375
TOTAL FUNDS CARRIED FORWARD
829,356
70,469
899,825
923,159
The notes fonn part of these financial statements
Page 4

Priory Project Limited
Balance Sheet
31 December 2024
31.12.24
Total
funds
31.12.23
Total
funds
Unrestricted
fund
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
319,969
319,969
269,017
CURRENT ASSETS
Debtors
Cash at bank and in hand
12
34.209
489,037
34.209
559,506
94,379
572,503
70.469
523,246
70.469
593,715
666,882
CREDITORS
Amounts falling due within one year
13
(13,859)
(13.859)
(12.740)
NET CURRENT ASSETS
509,387
70,469
579,856
654,142
TOTAL ASSETS LESS CURRENT
LIABILITIES
829,356
70,469
899,825
923,159
NET ASSETS
829,356
70,469
899,825
923,159
FUNDS
Unrestricted fimds
Restrict¢d funds
14
829,356
70,469
852,690
70,469
TOTAL FUNDS
899,825
923.159
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended
31 December 2024.
The members have not required the company to obtain an audit of its financial Statements for the year ended
31 December 2024 in accordance with Section 476 of the Companies Act 2006.
The trnstees acknowledge their responsibilities for
(a)
ensuring that the charitabl¢ company k¢eps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing flnancial statements which give a true and fair view of the state of affair5 of the charitsble company as at
the end of each flnancial year and of its sU￿]uS or defjcit for cach flnancial year in accordance with the requirements
of Sections 394 and 395 and which otherwise comply with the requirements of the Cornpanies Act 2006 relating to
financial statements, so far as applicable to the charitable company.
(b)
The notes forni part of these financial statements
Page 5
continued...

Priory Project Limited
Balance Sheet- contlnued
31 December 2024
These financial statements have been prepared in accordance with the provisions applicable lo charitable companies subject
to the small companies regime.
The financlal statements were approved by the Board of Trustees and authorised for issue on 13 May 2025 and were signed
on its behalf by:
d£
L Turner- Trustee
The notes fomi part of these financial statements
Page 6

Priory Project Limited
Cash Flow Statement
for the Year Ended 31 December 2024
31.12.24
31.12.23
Notes
Cash flows from operating activitfies
Cash generated from operations
41,908
55,326
Net cash provided by operating activities
41,908
55,326
Cash flows from investing activities
Purchase of tangibl¢ fixed assets
Sale of tangible f￿ed assets
Interest received
(69,511)
(58,937)
3,800
4,056
14.606
Net cash used in inv¢sting activities
(54,905)
(51,081)
I Change in cash and cash equivalents in the
reporting period
Cash and cash equivalent5 at the beginning
of the reporting period
(12,997)
4,245
572,503
568258
Cash and eash equfvalents at the end of the
reporting period
559,506
572,503
The notes form part of these financial statements
Page 7

Priory Project Limited
Notes to the Cash Flow Statement
for the Year Ended 31 December 2024
RECONCILIATION OF NET (EXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
31.12.24
31.12.23
Net (expenditure)lincome for the reporting period (as per the Statement
of Financial Activfities)
Adjustment5 for:
Depreciation charges
Profit on disposal of fixed assets
Interest r¢ceived
Decreas¢l(increase) in debtors
Increase in creditors
(23,334)
117,784
18,559
18,622
(1,589)
(4.056}
(77,412)
1.977
(14,606)
60,170
1.119
Net cash provided by operations
41.908
55.326
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.24
Cash flow
At31.12.24
Net cash
Cash at bank and in hand
572,503
(12,997)
559,506
572.503
(12,997)
559,506
Total
572,503
(12,997)
559.506
The notes fonn part of thes¢ financial statements
Page 8

Priory Project Limited
Notes to the Ffinane5al Ststements
for the Year Ended 31 December 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Stat¢m¢nt of
Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Rcporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effectiv¢ l January 2019),, Financial Reporting
Standard 102 The Finallcial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies
Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the rharity
to that expenditure, it is probable that a transf¢r of economic b¢nefits will ￿ Tequir¢d in s¢ttl¢ment and the amount
of the obligation can be measur¢d reliably. Expenditure is accounted for on an accruals basis and has been classified
under headings that aggregate all cost related to the category. Where costs cannot be directly attrlbuted to particular
headings they have been allocated to activities on a besis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold propety
Building & structures
Improvements to propety
Plant and rnachin¢ry
Fixtures and fittings
Motor vehicles
Computer equipment
20/0 straight line
20/0 on cost
20/0 on cost
150/0 on reducing balance
150/0 on reducing balance
250/0 on reducing balance
250/0 on cost
Taxation
The charity 15 exempt frorll corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can b¢ used in accordance with the charitable objectives at the discretion of the tnlstees.
Restricted ￿ftds can only be used for particular restricted purposes within the objects of the charity. Restriction5
arise when specifjed by the donor or when funds are raised for particular restricted PUTposes.
Further explanation of the nature and Purpose of each fund is included in the notes to the flllancial statements.
Pensfion eosts and other post-retirement benefjts
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable
company'5 p¢nsion scheme are charged to the Staternent of Financial Activities in the period io which they relate.
Page 9
continued...

Priory ProJeet Lfimited
Notes to the Financial Statements - continued
for the Year Ended 31 Deeember 2024
DONATIONS AND LEGACIES
31.12.24
31.12.23
Donations
19
INVESTMENT INCOME
31.12.24
31.12.23
Deposit account interest
14,606
4,056
INCOME FROM CHARITABLE AcfiviTIES
31.12.24
31.12.23
Activity
Operation of Registered Home
Resident fees
570,162
647.261
CHAIUTABLE ACTIVITIES COSTS
Support
costs (see
note 6)
Direct
Costs
Totals
Op¢ration of R¢gist¢r¢d Home
570,530
38,187
608,717
SUPPORT COSTS
Governance
costs
Management
Totals
Operation of Registered Home
34292
3.895
38.187
NET INCOMEI(EXPENDITURE)
Net incomd(exp¢nditur¢) is stat¢d aftcr chargingl(CT¢diting):
31.12.24
31.12.23
Depreciation - owned assets
Surplus on disposal of fixed assets
18.559
18.622
(1,589)
Page 10
continued...

Priory ProJecl Limited
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
TRUSTEES, REMUIYERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended
31 December 2023.
Trustees, expenses
31.12.24
31.12.23
Tn￿ees, expenses
66
12
STAFF COSTS
31.12.24
31.12.23
Wages and salaTi¢S
Other pension costs
419,789
12.418
379,412
10.093
432.207
389,505
The averdge monthly number of employees during the year was as follows:
31.J2.24
31.12.23
io
Support staff
Maintenanc¢ tnanager
Deputy manager
R¢gi5tcr¢d manager
14
13
No employees received emoluments in excess of £60,000.
io.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
Restricted
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Operation of Registered Home
647,261
647,261
Investment income
Other income
4,056
2,751
4,056
2,751
Total
654,068
654,068
EXPENDITURE ON
Charitable activities
Operation of Registered Home
536,284
536,284
NET INCOME
Transfers between funds
117.784
(70,469)
117,784
70,469
Pagell
continued...

Priory Project Limited
Notes lo the Financial Statements - continued
for the Year Ended 31 Deeember 2024
io.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTJVITIES - continued
Unrestricted
Restricted
fund
fund
Total
fund5
Net movement in fund5
47,315
70,469
117,784
RECONCILIATION OF FUNDS
Total fimds brought forward
805.375
805,375
TOTAL FUNDS CARIUED FORWARD
852,690
70,469
923,159
TANGIBLE FIXED ASSETS
Improvements
to
prop¢rty
Freehold
property
Building
& structures
Plant and
machincry
COST
At l January 2024
Additions
236,673
6,790
23,180
12.129
52,542
At 31 D¢cember 2024
236.673
52.542
6.790
35.309
DEPRECIATION
At l January 2024
Charge for year
30.768
2,233
364
136
16,599
2,807
1,051
At 31 December 2024
33,001
1.051
500
19,406
NET BOOK VALUE
At 31 December 2024
203,672
51,491
6,290
15,903
At 31 December 2023
205,905
6,426
6,581
Page 12
continucd...

Priory Project Limited
Notes to the FiDaneial Statements - continued
for Ihe Year Ended 31 December 2024
ii.
TANCIBLE FIXED ASSETS - eont5nued
Fixtures
and
fittings
Motor
vehicles
Computer
equipment
Totals
COST
At l January 2024
Additions
71.139
4.062
59.185
3,643
778
400,610
69.511
At 31 Dec¢mber 2024
75,201
59,185
4,421
470,121
DEPRECIATION
At l January 2024
Charge for year
58,876
2,449
22,634
9,138
2,352
745
131,593
18,559
At 31 Dec¢mb¢r 2024
61.325
31,772
3,097
150.152
NET BOOK VALUE
At 31 December 2024
13,876
27,413
1.324
319,969
At 31 D￿ernber 2023
12,263
36,551
1,291
269,017
12,
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24
31.12.23
Trade debtors
Prepayinents and accrued income
25,946
8,263
69,064
25,315
34,209
94,379
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24
31.12.23
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
691
8,435
1,973
2,760
657
7,834
1,744
2,505
13,859
12,740
Page 13
continued..,

Priory Project Limited
Notes to the Financial Statements - continued
for the Year Ended 31 Deeember 2024
14.
MOVEMENT JN FUNDS
Net
movement
in funds
At
31.12.24
At 1.1.24
Unrutricted funds
General fund
852,690
(23,334)
829.356
Restricted funds
Residents mobility fees
70.469
70,469
TOTAL FUNDS
923,159
(23,334)
899,825
Net movernent in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
585,383
(608,717)
(23.334)
TOTAL FUNDS
585,383
(608,717)
(23,334)
Cornparatives for movement in fund5
Nel
movement
in funds
Transfers
betsveen
funds
At
31.12.23
At 1.1.23
Unrestricted funds
General fund
805.375
117,784
(70,469)
852,690
Restricted funds
Residents mobility fees
70,469
70,469
TOTAL FUNDS
805,375
117,784
923,159
Page 14
continued...

Priory Project Llmlted
Notes to the Flnancial Statements - continued
for the Year Ended 31 December 2024
14.
MOVEMENT IN FUNDS- continued
Comparativ¢ net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
kn funds
Unrestrieled funds
General fund
654,068
(536,284)
117,784
TOTAL FUNDS
654,068
(536,284)
117,784
A current year 12 months and prior year 12 months combined position is as follows:
Nel
movement
in funds
Transfers
between
funds
At
31.12.24
At 1.1.23
Unrestrieted funds
General fund
805,375
94,450
(70,469)
829,356
Restricted funds
Residents mobility fees
70,469
70,469
TOTAL FUNDS
805.375
94,450
899.825
A Cll￿nt year 12 months and prior year 12 months combined net movement in funds, included in the above are as
follows:
Incoming
resources
Resources
expended
Movem¢nt
in funds
Unrestricted funds
G¢n¢ral fimd
1.239,451
(1,145,001)
94,450
TOTAL Fu[￿s
1.239,451
(1,145,001)
94,450
Pag¢ 15
continued...

Priory Project Limited
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
15.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 D￿ernber 2024.
Page 16

Prlory Project Limlted
Detailed Ststelnent of Financial Activities
for the Year Ended 31 December 2024
31.12.24
31.12.23
INCOME AND ENDOWMENTS
Donation5 and legaeles
Donations
19
Investrnent intome
Deposit account interest
14,606
4,056
Charltable aetlvltles
Resident fees
570,162
647,261
Other income
Gain on sal¢ of tangibl¢ f]xed assets
Other income
1,589
1,162
596
596
2,751
Total incoming resourees
585,383
654,068
EXPENDITURE
Charitable activities
Tn￿tee$, expenses
Wages
Pensions
Housekeeping
Holidays for residents
Personal allowance
Light & heal
Rates & wat¢r
Insurance
Repairs & renewals
Agency staff
Depn of freehold property
Depn of building & structures
property
Depn of plant & machinery
Depn of f￿tUre & fittings
Depn of motor vehicles
Depn of computer equipment
66
419,789
12,418
27,483
11,989
19,773
11,951
4,519
6202
37,781
12
379,412
10,093
25,402
9,141
12,564
11,667
3,295
6,963
18,560
4,340
2,233
2,233
1,051
136
2,807
2,449
9.138
745
136
1,161
2,164
12,184
744
570,530
500,071
Support costs
Management
Telephone
Carried forward
4,352
4,352
4,012
4,012
This page does not forni part of the statutory financial statements
Page 17

Priory Project Limited
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
31.12.24
31.12.23
Management
Brought forward
Staff training
SundTies
Motor expenses
Printing & stationery
4,352
4,509
1,339
11,513
1.580
4,012
3,175
1,557
6,241
4,503
F ji
Licences & subscriptions
DBS Checks
Bank charges
Legal fees
Professiohal fees
3,182
944
181
4,497
2,195
2,498
2,723
161
6,315
1,637
34,292
32,822
Governance costs
Accountancy fees
Pa>ToII fees
2,388
1,507
2,160
1.231
3.895
3.391
Total resources expended
608,717
536,284
Net (expenditure)fincome
(23,334)
117,784
This page does not forni part of the statutory financial statements
Page 18