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2025-03-31-accounts

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The Now Project Limited Company Limited by Guarantee Annual Report & Financial StatementsYear Ended 31 March 2025

Company No: NI043774 Charity No: NIC100093 HMRC Charity Number: XR23504

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The Now Project Limited Company Limited by Guarantee Table of Contents

Year Ended 31 March 2025

Page
Company Information 2-3
Report of the Directors 4-15
Independent Auditors Report to the members 16-18
Consolidated Statement of Financial Activities 19
Company Statement of Financial Activities 20
Consolidated Balance Sheet 21
Charity Balance Sheet 22
Consolidated Statement of Cashflows 23
Notes to the Financial Statements 24-37

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The Now Project Limited Company Limited by Guarantee Company Information

Directors / Trustees Chris Brown
John Gordon Chair Board of Directors
Maria McAllister (Appointed 5 March 2025)
Andrea MacLean (Resigned 24 November 2024)
Gerard McStravick (Resigned 24 November 2024)
Peter McVerry
Allen Martin Chair Audit & Risk Committee
Nuala Murphy
Mark Osmer
Jill Robb
Cathy Donnelly Chair HR Sub-group
Secretary Maeve Monaghan
Registered Office The NOW Group
15-17 Grosvenor Road
Belfast
Northern Ireland
BT12 4GN
Auditors AAB Group Accountants Limited
Chartered Accountants and Statutory Auditors
1-3 Arthur Street
Belfast
Northern Ireland
BT1 4GA
Bankers Bank of Ireland
202 Anderstown Road
Belfast
Northern Ireland
BT11 9EB
Danske Bank
Donegall Square West
Belfast
Northern Ireland
BT1 6JS
Solicitors Edwards & Co. Solicitors
28 Hill Street
Belfast
Northern Ireland
BT1 2LA

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The Now Project Limited Company Limited by Guarantee Company Information

Registered Charity No. NIC100093 Registered Company No. NI043774

NIC100093

Recognised as a Charity by HM Revenue & Customs under Reference Number XR 23504

Date of Incorporation 2 August 2002 Chief Executive Officer Maeve Monaghan

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

The Directors (who are also Trustees of the company) submit their annual report and the audited consolidated financial statements of The Now Project Limited (Now Group) and its subsidiary for the year ended 31 March 2025. This report constitutes the Strategic Report and the Directors’ Report required under the Companies Act 2006. Directors have adopted the provisions of the Companies Act 2006, the Charities Act (Northern Ireland) 2008, the The Charities Act (Northern Ireland) 2022 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019) – (Charities SORP (FRS 102)), in preparing the annual report and financial statements of the group and charitable company.

Chair’s Foreword

NOW Group Activities 2024–25

This year has been transformative for NOW Group, as we deepened our impact across the island of Ireland and strengthened our position as the leading providers of employment and support services for people with learning difficulties, Autism and Neurodiversity.

All-Island Expansion: We extended our services across Northern Ireland and the Republic of Ireland, including new delivery in Dublin and plans to do the same in Galway, and border counties. This expansion is enabling more people with learning difficulties, autism, and neurodiversity to access training, support, and employment.

Loaf Catering in Dublin: In year our social enterprise Loaf Catering has embedded its newest Café at Kilmainham Square, Dublin with a Loaf Academy, creating jobs and training pathways in hospitality.

Key Success Metrics 2024–25

According to our latest Impact and SROI Reports:

We welcome the renewed focus from the UK, NI and Irish governments on the valuable role people with disabilities can and should play in every workforce. With increased awareness of the need for Inclusion strategies within business and the renewed hunt for talent it is the perfect time to see both Governments back up their vision with ongoing support for the charities and social enterprises supporting people into the workforce.

NOW Group is proud to be at the forefront of this movement, working with employers to create inclusive workplaces and demonstrating that collaborating on social value delivers results—for participants, for business, and for society.

Conclusion

On behalf of the Board, I would like to extend heartfelt thanks to our fellow Board members in both Northern Ireland and the Republic of Ireland for their insight, leadership, and ongoing support throughout the year.

A special thank you goes to the entire NOW Group staff team for delivering an excellent year of results and in particular our highly skilled Chief Executive whose enthusiasm, expertise and leadership is driving the NOW Group year on year to greater heights in a very challenging charitable environment.

Sincerely,

John G Gordon Chairman, NOW Group

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The Now Project Limited

Report of the Directors

Year Ended 31 March 2025

Objectives and activities

NOW Group is a Company Limited by Guarantee with charitable status that has been operating since 2002. It provides quality training and employment services for local people with differing levels of learning abilities who often are furthest removed from the labour market.

The purpose of NOW is:

Supporting People with Learning Difficulties and Autism into Jobs with a Future. The Company’s objects are:

For the purposes of this this clause the expression "learning difficulty" shall include any learning disability, difficulties and associated problem or those who appear on the autistic spectrum, a developmental disability of the mind, sensory impairment, acquired brain injury or mental health problem.

Over the years, NOW Group has developed a range of services to help people realise their full potential. These are defined in the following three main aims:

  1. To ensure people have the support they need to make informed decisions about their post-school future.

  2. To ensure people have access to quality, accredited training which helps them prepare for independence and the world of work.

  3. To provide people with the support they need to access the job they want, and keep it.

Public Benefit

In shaping our objectives and planning the activities to meet those objectives the Trustees have considered the Charity Commission NI’s guidance on public benefit including the commission’s ‘Public Benefit Reporting’ document CCNI PBR1.

The direct benefits which flow from our purposes are: a) Increase in the qualifications and skills gained by the beneficiaries.

b) Supporting the beneficiaries to move into employment with a sustainable future.

c) Enhancement of education for beneficiaries.

d) Social inclusion of beneficiaries.

The direct benefits flowing from our purposes are set out in the achievements & performance section.

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

Achievements & Performance

We support people with learning difficulties and autism into jobs with a future. We identify hurdles facing participants and co-design innovative solutions to maximise opportunities for employment while challenging societal perceptions and prejudices. We are focused on reducing the increasing employment, social, digital, and financial gaps for our participants. Our team’s increasing use of digital platforms has delivered exceptional results through a blended style of programme delivery which enables us to support a diverse population across an ever expanding geographical area reaching those in more isolated communities. We have developed a service continuum offering provision to any participant who wants to achieve a job regardless of their ability or background. Our work is supported through contracts, government programmes, charitable funding and all are enhanced by revenue generated through social enterprise activity.

Employment Services

A recent survey from the Ulster University found that over 74% of disabled people in Northern Ireland are currently unemployed, the highest rate in the UK by a significant margin (UUEPC 2022).

Ulster University Economic Policy Centre 2022)

The disability employment gap has continued to grow and has been compounded by the impact of the pandemic. Many of our participants are thought of as ‘economically inactive’ and are living in poverty with poor academic achievements. As a pioneering organisation, we have used co-design methodologies and developed innovative approaches that create successful and meaningful employment opportunities and a pathway into sustained

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The NOW Project Limited

Report of the Directors Year Ended 31 March 2025

employment for participants. We align individual progression specifically to labour market need and participant aspirations. The model of working with organisations to secure and sustain jobs has created a ripple effect of employer interest from across all industries and many see NOW Group as a solution to their employment challenges. NOW’s Employment Team not only supports participants into jobs but continues that support when needed during employment for both the participant and the employer. Job sustainment is a crucial element of our employment service.

NOW Group has developed a network of strategic and job partners who work with them to increase employment opportunities. Our partnerships have created sustainable opportunities and demonstrate how the participant focused, and employer led model has evolved. Our understanding of the economic and labour force environment identifies where there are workforce challenges and opportunities for participants. This model provides unique platforms to improve engagement, provide relevant and bespoke training and maximises the conversions from training into employment.

Training Services

Relevant and appropriate participant training is critical to achieving NOW Group’s mission. The training team has demonstrated resilience and adaptability to meet the ever-changing learning and employment environment for participants. Working in partnership with employers, they have created bespoke vocational academies which have both theory and practical based learning. The training team’s agility to respond to participant need and employer demand has resulted in creating an extensive range of vocational training resources from entry level to level 3 accreditations. A critical element of the success of the training department is the recognition of the range of participant learning styles and responding to these using techniques to maximise learning experiences and enhance participant achievements. Essential Skills are also a key component of individual progression and were introduced as a direct response to need. These can now be offered to participants across Northern Ireland using a blended learning approach. We have skilled trainers who can deliver numeracy, literacy, and ICT accreditations in addition to vocational training. Soft skill development is fundamental to building progression plans and the team has developed a catalogue of resources that support skills groups, job clubs and community programmes. All training can be pivoted and delivered across an array of platforms, digital and face-to-face and caters for all abilities.

Community Opportunities

NOW Group is passionate about delivering inclusive practices and equality. This is particularly evident in our community day opportunity programmes. These services offer individualised pre-employment learning sessions for participants who are furthest from gaining employment but have the aspiration to work. The programmes focus primarily on independence and confidence building with health and well-being interventions being delivered as stand-alone sessions and integrated into other learning opportunities. Service provision is determined by participant need and can range from intensive daily support to attendance at specific sessions which map to individual progression. The programmes are delivered at NOW Group’s Hives based in Belfast, Omagh and Enniskillen.

They provide a varied and engaging curriculum and the community team has developed resources that maintain engagement with participants while encouraging progression into employment programmes. The community team also engages with the participants’ parents and carers providing information sessions and reassurance at times of change for the people they care for.

Family Services

NOW Group’s Family Service is a unique provision offered in Northern Ireland. Our pioneering ethos and values are perfectly positioned to support the emerging population of families where there is a new or expectant parent with a learning difficulty or autism. This service supports individuals to take control of their family life, increases their parenting skills and provides them with accessible information to make informed decisions. The Family Service team continually challenges prejudices about their participants’ ability to parent and supports progression for them as individuals. This service provides support through all aspects of

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

parenting from play, communication, and learning to supporting participants to navigate statutory or medical services. The Family Service offers support which is valued by the parents and allows them the freedom to explore their potential without the fear of being judged. Building resilience and confidence increases their integration within their community as a family.

Social Groups

NOW Group reacts to need identified through co-design sessions. A massive need was identified around participant social exclusion and poor mental health caused by isolation and loneliness. NOW Group has developed social groups to support participants to engage with peers, reduce isolation and build independence.

These groups focus on bringing together people with similar interests, for example gaming, writing, art or drama. Social interactions are imperative for supporting health and wellbeing and for some of our participants this is the start of a journey into other services, building friendships and creating networks for personal growth.

NOW Service – What we have achieved 24-25

HOW MUCH DID WE DO?

WHAT DIFFERENCE DID WE MAKE?

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

WHAT DIFFERENCE DID WE MAKE? (CONTINUED)

v £700,000 saved in reduced benefit payments.

v For every £1 invested in NOW Group services, £23 was generated in social value.

Users, Employers, Health & Social Care Trusts, & Department for Communities).

Social Enterprise

Loaf

The year 24/25 saw an increase in revenue across all sites. Hospitality sector remains challenging with product costs and national insurance increases along with sectoral difficulties in staff recruitment. However, Loaf Catering’s customer base and support remain strong with a good base to improve on the good work to date.

We were delighted to have been re- appointed as providers of the Bobbin at City Hall contract and planned mobilisation of Ewart Café in Q1 of 25/26 financial year.

Corporate Catering sales remain key to the business with STRYKER, Belfast City Council, Belfast Trust, Deloitte NI and EY continuing to sit within our top customers.

Our cafes Loaf Cafe, Grosvenor Road and Bobbin City Hall Belfast continue to offer a variety of freshly cooked food including our signature sausage rolls in addition to homemade scones and variety of traybakes with a refreshed coffee menu. Ensuring compliance of allergens and food safety is a key priority focus at all times and we continue to hold a 5-star scores on doors rating across all sites.

Overall, our Loaf Academy participants remain the key focus for Loaf to deliver the impact and mission and strategy of Loaf business. We supported 73 participants this year to gain real life work experience. Loaf Pottery in Crawfordsburn has seen an increase in group-based events including corporate away days, baby showers and dropin paint and glaze sessions. Wheel throwing and pizza evenings remain popular with customers along with the new addition of our beginners’ pottery workshop.

Corporate gifting continued to be a beneficial revenue stream, with a number of large organisations working in collaboration with us to offer branded pottery items to both staff and their customers.

The Loaf Pottery Social Group supported by our garden volunteers each week, make good use of our loaf pottery garden to grow a range of produce for use in the Loaf kitchens.

JAM

The year 2024–2025 marked another year of growth for the JAM Card, with 20,435 new cards issued and 2,869 new app users joining our community.

Over the past year, we have welcomed 45 new JAM Card Business Partners across a range of sectors, helping to expand awareness and accessibility across regions. Notable partnerships across all-island included Waterways Ireland, A&L Goodbody, AbbeyAutoline, AXA Insurance and Law Society of Northern Ireland. We welcomed renewal commitments from valued JAM Friendly Partners including Galgorm Resort, Northern Ireland Electricity (NIE), Bank of Ireland, and the Northern Ireland Civil Service.

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

Financial Review

Overall, this has been another hugely successful year for NOW Group, with continued funding through the Department of Levelling up as part of the SkillSET consortium driving major organisational growth, this fund has been extended for a further year until March 2026. NOW Group was able to increase its overall charitable income to £5 million compared to £4.7 million in the previous year.

Social Enterprises income in the year is up by 1.7% compared to 2023/24 with trading conditions across the hospitality industry presenting a challenge to Loaf Catering. Loaf Catering and JAM Card continue to form part of the organisation’s sustainability strategy. JAM Card’s new growth strategy begun to be rolled out in Q4 24/25 and will be fully implemented during the 25/26 financial year.

NOW continued to support participants in our venues across NI this year with engagement levels remaining high and qualifications being achieved beyond targets.

Reserves at year end were £1.5m of which £1.3m are unrestricted. The cash reserves at the end of the financial year 24/25 have decreased to £1.5m.

Funding Sources

NOW Group’s Board is extremely grateful to the following organisations, which provide the main sources of our funding activities:

----- Start of picture text -----
Name of Project Theme Funder
SkillSET Employment & Training United Kingdom Government-
Programme Department for Levelling Up
Workable NI In Work Support Programme Department for Communities (DfC)
NOW Connects Belfast Pre-employment Community Belfast Health & Social Care Trust
Opportunities Programme
Loaf Placement Community placement Belfast Health & Social Care Trust
programme
NOW Connects Pre-employment Community Western Health & Social Care Trust
Opportunities Programme
Fandom Junior Social Group Northern Health & Social Care Trust
Family Service Building parent resilience Henry Smith
Ready Healthy Eat - RHE Cookery and independence The Real Farming Trust/The National Lottery
Let's Get Fit NOW Health and Well-Being Baker Mackenzie
Digital Transformation Organisational Transformation Dormant Accounts/National Lottery
Family Service Building parent reslilience Northern Health & Social Care Trust
Now Mind & Move Health & Wellbeing Public Health Agency
----- End of picture text -----

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

Reserves Policy

NOW Group has a cash reserves fund representing two month’s average operating costs for the following purposes:

To strengthen its overall position, the cash reserves policy has been developed to support the strategic objectives and operational plans of the organisation. This means funds are to be held also for the purposes of infrastructure investment and opportunities to explore and invest in future initiatives that drive impact.

NOW Group holds closing reserves at 31 March 2025 of £225,433 restricted (2024: £244,976) and £1,296,401 unrestricted (2024: £1,401,706).

The trustees have designated unrestricted reserves set aside for working capital £417,817, cash reserves £550,000 and capital assets £328,584

Free reserves are considered to be the working capital designated funds. The reserves held at the year end of £417,817 represent 2 months cover of unrestricted operating costs.

Cashflow

Core funding activities are secured until March 2026. NOW continues to focus on diversification of income along with the expansion of services and social enterprise operations into other geographical areas.

NOW must exercise considerable prudence to ensure that adequate reserves are available to bridge any potential shortfall in funds and to allow enough time for replacement or additional funds to be found. Legally, NOW must be able to meet its debts as they fall due.

Since restricted funds can only be used for the purpose for which they are given, NOW must always ensure that it can support at any given time (from its reserves cash or otherwise) viable and contracted programmes should it ever encounter difficulties. The cash reserves protected funds enables the organisation to meet its obligations for two months with no funding available.

In addition, NOW must ensure that it is able to respond to any cashflow problems as a result in delays from either funders or social enterprise debtors.

Structure, Governance and Management

Organisational Structure

NOW Group is a company limited by guarantee with charitable status, incorporated on the 2nd day of August 2002, and registered as a charity in 2001. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Gauge NI C.I.C

Gauge NI Community Interest Company (C.I.C) is a private company limited by guarantee without share capital, incorporated on 15th day of September 2010. The results of Gauge NI C.I.C have been consolidated into The Now Group accounts as a result of common control.

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

NOW Group has a Board of Directors of up to 14 members who meet quarterly and are responsible for the strategic direction and policies of the charity. At present the Board has 10 members from a variety of professional backgrounds relevant to the work of the charity. The Secretary (currently NOW Group’s Chief Executive Officer) has no voting rights. A scheme of delegation is in place and day-to-day responsibility for the provision of the services rests with the Chief Executive Officer Maeve Monaghan along with the Executive Team.

The Trustees are also responsible for the setting of senior staff pay.

The Chief Executive Officer is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The Executive Team has responsibility for the day-to-day operational management of NOW Group, individual supervision of the Management team, skills development and good working practice.

Recruitment and Appointment of Trustees

The Directors of the company are also charity trustees for the purposes of charity law, and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Articles, the members of the Management Committee are elected to serve for a period of three years, after which they be eligible for re-nomination and election provided that no director shall serve more than two consecutive three year terms and provided that he/she is recommended for reappointment by the directors. John Gordon was appointed Chair in February 2021.

NOW Group has a robust Governance Manual based on the Code of Good Governance detailing all processes in relation to its Board. Board members conduct a review of contribution and training needs analysis annually to ensure that all members are contributing and have the appropriate skills, expertise and training to ensure NOW Group’s strategy is met.

All members of the Board give their time voluntarily and receive no financial or other material benefits from the charity. Any expenses claimed from the charity are set out in a note to the accounts.

Trustee Induction and Training

Our Board member induction process aims to ensure that new members feel comfortable in their role and can make a useful and rapid contribution. The process lasts for several months and includes review meetings with the Chair to consider further induction and development needs. The Chair endeavours to ensure that the specific talents of each Board member is appropriately used to the benefit of the organisation. Induction includes the Chair meeting with new Board members six months after they join the Board to review the success of the process and to agree further actions. Board members are encouraged to network with staff at events and to attend meetings with key stakeholders, in order to continue to develop their understanding of the organisation and its environment.

Risk Management

The Audit and Risk sub-group has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is reviewed and updated quarterly. Where appropriate, systems or procedures are established to mitigate the risks the charity faces. Significant external risks to funding have led to the development of a strategic plan that allows for the diversification of funding and activities.

Internal control risks are minimised by the implementation and annual renewal of ISO 9001 and 14001. The organisation has appointed a Safeguarding Champion and team of Safeguarding Officers to ensure the safeguarding and protection of participants. Staff and volunteers receive regular safeguarding training. Procedures are in place to ensure compliance with health and safety regulations by staff, volunteers, participants and visitors to NOW Group’s bases.

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The Now Project Limited

Report of the Directors

Year Ended 31 March 2025

Statement of Trustees' Responsibilities

The Directors are responsible for preparing the Directors’ Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law, the Directors have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the trust and of the surplus or deficit of the trust for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Directors are also responsible for safeguarding the assets of the charity and hence to take reasonable steps to prevent and detect fraud and other irregularities.

Disclosures of Information to Auditors

To the knowledge and belief of the Directors there is no relevant information of which the company’s auditors are not aware. The Directors have taken all the necessary steps of which they are aware, provided relevant information and established that the company’s auditors are aware of the information.

Tax Status

Under Section 505(i)(a) and (c) of the Income and Corporation Taxes Act 1988, The Now Project (NOW Group) is entitled to charity tax exemption.

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The Now Project Limited

Report of the Directors Year Ended 31 March 2025

Donations and donated services

We are grateful to the following organisations who donated use of their facilities/services to support delivery of our services:

Our thanks to the following for donations and pro bono services:

 Deloitte LLP

 NOW Group Staff (Giving Tree)

Reference and administrative details

Charity number: NIC100093 Company number: NI043774 Principal office: NOW Group Head Office, 15-17 Grosvenor Road, Belfast, BT12 4GN

Auditors: AAB Group Accountants Limited, 1-3 Arthur Street, Belfast BT1 4GA Bankers: Danske Bank, Business Branch PO Box 183, Donegal Square West, Belfast, BT1 6JS Solicitors : Edwards & Co, 28 Hill St, Belfast, BT1 2LA

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The Now Project Limited

Report of the Directors

Year Ended 31 March 2025

Directors/Trustees NOW Project Ltd

The Directors of the charitable company NOW Group are its trustees for the purpose of charity law. Throughout this report they are collectively referred to as the ‘Directors’. The Directors serving from 1st April 2024 to 31st March 2025 were as follows:

Chris Brown John Gordon Chair Board of Directors Maria McAllister (Appointed 5 March 2025) Andrea MacLean (Resigned 24 November 2024) Gerard McStravick (Resigned 24 November 2024) Peter McVerry Allen Martin Chair Audit & Risk Committee Nuala Murphy Mark Osmer Jill Robb Cathy Donnelly Chair HR Sub-group

Gauge Directors April 2024 - March 2025

Chris Brown John Gordon Jill Robb

By order of the Board

John Gordon Trustee/Director

Date: 10 December 2025

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The Now Project Limited Company Limited by Guarantee Independent Auditor's Report to the Members Year ended 31 March 2025

Opinion

We have audited the group and parent charitable company financial statements of The NOW Project Limited for the year ended 31 March 2025 which comprises the consolidated and charity Statement of Financial Activities, the consolidated and charity Balance Sheets, the consolidated cash flow statement and the notes to the accounts including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the NOW Project Limited's group financial statements and parent charitable company financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the accounts and our auditor's report. The Trustees are responsible for the other information. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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The Now Project Limited Company Limited by Guarantee Independent Auditor's Report to the Members Year ended 31 March 2025

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Trustees and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees Responsibilities, the Trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We obtained an understanding of the legal and regulatory framework applicable to the company through enquiry of management, sector research and the application of cumulative audit knowledge. We identified the following principal laws and regulations relevant to the company – Companies Act 2006, Charities Act (Northern Ireland) 2008 and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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The Now Project Limited Company Limited by Guarantee Independent Auditor's Report to the Members Year ended 31 March 2025

We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key controls cycles in place and enquiry of management.

Our procedures to respond to those risks identified included, but were not limited to:

A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed.

10 December 2025 Teresa Campbell (Senior Statutory Auditor) Date for and on behalf of AAB Group Accountants Limited Chartered Accountants & Statutory Auditor 1-3 Arthur Street, Belfast, BT1 4GA

18

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Consolidated Statement of Financial Activities

including Income and Expenditure Account

Year Ended 31 March 2025

----- Start of picture text -----
Total Total
Unrestricted Restricted Year Unrestricted Restricted Year
Notes Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Income and Endowments from:
Donations and Legacies 2 114,237 - 114,237 213,355 - 213,355
Charitable Activities 3 2,266,252 2,619,272 4,885,524 2,180,426 2,315,182 4,495,608
Other Income 4 - - - - - -
Other Trading Activities 5 14,206 - 14,206 28,517 - 28,517
Total Income 2,394,695 2,619,272 5,013,967 2,422,298 2,315,182 4,737,480
Expenditure on:
Charitable Activities 5/6 2,486,359 2,638,815 5,125,174 1,813,220 2,310,228 4,123,448
Other Trading Activities 5 13,641 - 13,641 24,768 - 24,768
Total Resources Expended 2,500,000 2,638,815 5,138,815 1,837,988 2,310,228 4,148,216
Net Income/(Expenditure) (105,305) (19,543) (124,848) 584,310 4,954 589,264
Transfers Between Funds - - - - - -
Net Movement in Funds (105,305) (19,543) (124,848) 584,310 4,954 589,264
Reconciliation of Funds
Total Funds Brought Forward 1,401,706 244,976 1,646,682 817,396 240,022 1,057,418
Total Funds Carried Forward 13 1,296,401 225,433 1,521,834 1,401,706 244,976 1,646,682
----- End of picture text -----

The notes on pages 24 - 37 form part of these financial statements. The results relates to continuing activities.

19

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited

Company Limited By Guarantee Charity Statement of Financial Activities

including Income and Expenditure Account

Year Ended 31 March 2025

----- Start of picture text -----
Total Total
Unrestricted Restricted Year Unrestricted Restricted Year
Notes Funds Funds 2025 Funds Funds 2024
£ £ £ £ £ £
Income and Endowments from:
Donations and Legacies 2 114,237 - 114,237 213,355 - 213,355
Charitable Activities 3 2,266,252 2,619,272 4,885,524 2,180,426 2,315,182 4,495,608
Other Income 4 - - - - - -
Other Trading Activities 5 - - - - - -
Total Income 2,380,489 2,619,272 4,999,761 2,393,781 2,315,182 4,708,963
Expenditure on:
Charitable Activities 5/6 2,486,359 2,638,815 5,125,174 1,813,226 2,310,228 4,123,454
Other Trading Activities 5 - - - - - -
Total Resources Expended 2,486,359 2,638,815 5,125,174 1,813,226 2,310,228 4,123,454
Net Income/(Expenditure) (105,870) (19,543) (125,413) 580,555 4,954 585,509
Transfers Between Funds - - - - - -
Net Movement in Funds (105,870) (19,543) (125,413) 580,555 4,954 585,509
Reconciliation of Funds
Total Funds Brought Forward 1,424,341 244,976 1,669,317 843,786 240,022 1,083,808
Total Funds Carried Forward 13 1,318,471 225,433 1,543,904 1,424,341 244,976 1,669,317
----- End of picture text -----

The notes on pages 24 - 37 form part of these financial statements. The results relates to continuing activities.

20

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Consolidated Balance Sheet Year Ended 31 March 2025

Notes
Fixed assets
Tangible Assets
9
Current assets
Stocks
10
Debtors
11
Cash at Bank and in Hand		 2025
2024
£
£
519,437
509,539
40,098
39,637
202,844
428,857
1,525,674
1,720,307
Liabilities
Creditors: Falling due within one year
12
Net Current Assets
Total Assets less Current Liabilities		 1,768,616
2,188,801
(766,219)
(1,051,658)
1,002,397
1,137,143
1,521,834
1,646,682
Net assets 1,521,834
1,646,682
Group Funds employed
Restricted Funds
13
Unrestricted Funds
13		 225,433
244,976
1,296,401
1,401,706
1,521,834
1,646,682

The financial statements were approved and authorised for issue by the Board of Directors on 10 December 2025 and were signed on its behalf by:

Jolun ordow John Gordon Director A

Allen Martin Director

Company Registration: NI043774

The notes on pages 24 - 37 form part of these financial statements. The results relates to continuing activities.

21

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Balance Sheet Year Ended 31 March 2025

Fixed assets
Tangible Assets
9
Current assets
Stocks
10
Debtors
11
Cash at Bank and in Hand		 2025
2024
£
£
519,437
509,539
40,098
39,637
223,047
457,463
1,525,674
1,712,082
Liabilities
Creditors: Falling due within one year
12
Net Current Assets
Total Assets less Current Liabilities		 1,788,819
2,209,182
(764,352)
(1,049,404)
1,024,467
1,159,778
1,543,904
1,669,317
Net assets 1,543,904
1,669,317
Funds employed
Restricted Funds
Unrestricted Funds		 225,433
244,976
1,318,471
1,424,341
1,543,904
1,669,317

The financial statements were approved and authorised for issue by the Board of Directors on the 10 December 2025 and were signed on its behalf by:

John Gordon Director

Allen Martin Director

Company Registration: NI043774

The notes on pages 24 - 37 form part of these financial statements. The results relates to continuing activities.

22

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Limited By Guarantee Consolidated statement of cash flows Year Ended 31 March 2025

----- Start of picture text -----
2025 2024
Notes £ £
Cash (used in)/provided by Operating Activities 20 (156,988) 1,013,926
Cash flows from Investing Activities
Interest receivable and similar income 34,782 15,123
Purchase of Tangible Fixed Assets (79,687) (55,175)
-
Proceeds from disposal of Tangible Fixed Assets 7,260
Cash used in Investing Activities (37,645) (40,052)
(Decrease)/Increase in Cash and Cash Equivalents in the year (194,633) 973,874
Cash and Cash Equivalents at the beginning of the year 1,720,307 746,433
Total cash and cash equivalents at the end of the year 1,525,674 1,720,307
Cash and Cash Equivalents
at the end of the reporting period 1,525,674 1,720,307
----- End of picture text -----

23

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

1) Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Now Project Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost and transaction value unless otherwise stated in the relevant accounting policy notes.

b) Preparation of the accounts on a going concern basis

The trustees have prepared budgets and cash flows for a period of at least 12 months from the date of approval of the financial statements. Having considered the circumstances, the trustees consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company is unable to continue as a going concern.

c) Group financial statements

The financial statements consolidate the results of the charity and its subsidiary Gauge NI C.I.C. A separate Statement of Financial Activities and Income and Expenditure account for the Charity alone has been presented on page 20.

d) Incoming Resources

Income is recognised when the group has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. The specific basis used is as follows:

Government Grants

Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.

Donations

Voluntary income received by way of donations, gifts and gift aid to the charity is included in full in the Statement of Financial Activities when received.

Commercial Trading Income

Trading income represents the invoiced value of goods supplied during the year excluding value added tax. Revenue is recognised upon provision of the service to the customer.

24

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

1) Accounting Policies- (continued)

Gifts in Kind

Donated facilities are included at the value to the charity where this can be quantified and a third party is bearing the cost. No amounts are included in the financial statements for services donated by volunteers.

e) Resources Expended

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis, exclusive of any VAT which can be recovered, and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Staff costs and overhead expenses are allocated to activities on the basis of time spent on those activities.

f) Fund accounting

The group has various types of funds for which it is responsible and which require separate disclosure. Definitions of the various types of funds are as follows:

Restricted funds

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of overhead and support costs.

Unrestricted funds

Unrestricted funds are donations and other incoming resources received or generated which are expendable at the discretion of the charity in the furtherance of its objectives.

Designated funds

These are funds set aside by the Trustees out of unrestricted general funds for specific future purposes or projects.

g) Operating leases

Where assets are acquired under finance leases, the capital element of the asset is included in fixed assets and amortised over the life of the asset. The outstanding capital element of the leasing obligation is included in creditors falling due. The interest element is written off over the primary period.

All other leases are accounted for as operating leases and the rental charges are charged to the statement of financial activities on a straight line basis over the life of the lease.

25

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

1) Accounting Policies- (continued)

h) Tangible fixed assets

Depreciation is calculated to write off the original cost less the expected residual value of the assets over their estimated useful lives at the following annual rates:-

Fittings and equipment - 15% Straight line Computer equipment - 20% straight line Property - 2% straight line Leasehold improvements - 2% straight line Motor Vehicles - 20% straight line

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

i) Cash at bank and in hand and current asset investments

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less.

j) Stock

Stock is included at the lower of cost and net realisable value.

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

l) Pension Scheme

The company provides a defined contribution pension scheme, the assets of which are held separately from those of the company in an independently administered fund. Contributions to this scheme are charged to the Statement of Financial Activities as they become payable.

m) Financial instruments

The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, the net amounts are presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis of to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

26

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

1) Accounting Policies- (continued)

n) Financial instruments ctd…

Basic financial liabilities

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instruments is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled.

o) Taxation

As a registered charity, The Now Project Limited is not liable to either Income Tax or Corporation Tax.

p) Critical accounting estimates and judgements

In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements in applying the entity's accounting policies

There are no critical judgements in applying the group's accounting policies.

Critical accounting estimates and assumptions

Cost allocation is an accounting estimate that is recognised in line with the accounting policy Note 1e. Depreciation is an accounting estimate that is recognised in line with the accounting policy Note 1h.

27

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

2. Income from Donations and Legacies

2. Income from Donations and Legacies
Gifts in Kind
Donations
3. Income from Charitable Activities
Income from Social Enterprise Activities
Grants receivable for Social Enterprise
Income receivable from Into Work Scheme
Grants
Other income from charitable activities
Bank Interest
4. Other Income
Exchange Rate Variance
Gain on disposal of fixed assets		 2025
2024
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
£
43,565
-
43,565
96,632
70,672
-
70,672
116,723
114,237
-
114,237
213,355
2025
2024
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
£
1,191,281
-
1,191,281
1,019,696
33,952
-
33,952
16,021
179,327
-
179,327
134,857
421,674
2,619,272
3,040,946
2,735,187
405,236
-
405,236
574,724
34,782
-
34,782
15,123
2,266,252
2,619,272
4,885,524
4,495,608
2025
2024
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
£
£
£
£
-
-
-
-
-
-
-
-
-
-
-
-

5. Income from other trading activities

The Now Project Limited is the sole member of Gauge NI Community Interest Company (company number NI604444). The registered office of Gauge NI C.I.C is the same as The Now Project Limited. The summary financial performance of the subsidiary alone is:

Gauge NI C.I.C
Turnover
Expenditure
Corporation tax charge
Net Profit
Aggregate share capital and reserves		 2025
2024
£
£
14,206
28,517
(13,641)
(24,768)
-
-
565
3,749
(22,074)
(22,639)

28

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

6. Charitable Activities

6. Charitable Activities
Loaf Social Enterprise
Jam project
Training and Employment
Services
Central and Support
Gifts in Kind
Trading activities		 Cost of
Staff
Sales
Costs
£
£
453,547
524,639
-
54,326
-
2,098,675
-
671,914
-
-
-
-		 Support
Other
Costs
Direct Costs
2025
2024
£
£
£
£
67,500
68,459
1,114,145
914,924
23,634
75,205
153,165
84,608
60,894
319,943
2,479,512
1,990,243
306,050
356,823
1,334,787
1,037,041
43,565
-
43,565
96,632
-
13,641
13,641
24,768
453,547
3,349,554		 501,643
834,071
5,138,815
4,148,216
7. Results for the year
This is stated after charging:
Staff costs (note 8)
Audit fees - external
Depreciation		 2025
2024
2025
2024
£
£
£
£
3,383,489
2,709,625
3,383,489
2,709,625
6,629
6,629
4,879
4,879
62,529
56,619
62,529
56,619
Group
Charity
3,452,647
2,772,873
3,450,897
2,771,123
8. Employee information
Wages and salaries
Social security costs
Other pension costs		 2025
2024
2025
2024
£
£
£
£
2,976,919
2,400,254
2,976,919
2,400,254
255,440
194,868
255,440
194,868
151,130
114,503
151,130
114,503
Group
Charity
3,383,489
2,709,625
3,383,489
2,709,625

The average number of persons employed by the company during the year, by activity, was as follows:

Directors
Staff		 2025
2024
2025
2024
13
13
13
13
139
118
139
118
152
131
152
131
Group
Charity

29

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

8. Employee information ctd…

The number of employees whose emoluments exceed £60,000 were:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£60,001 - £70,000|-|2| |£70,001 - £80,000|1|-| |£80,001 - £90,000|1|-| |£90,001 - £100,000|-|1| |£100,001 - £110,000|1|-|

----- End of picture text -----

The total amount of employee benefits received by key management personnel in the period was £347,421 (2024: £305,172). The Charity considers its key management personnel comprises of the Chief Executive Officer, Chief Operating Officer, Chief Services Officer and Director of Funding and Impact.

No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

Pension Costs and Other Defined Post-Retirement Benefits

Defined Contribution Scheme

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost and charge represents contributions payable by the company to the fund and amounted to £151,130 (2024: £114,503).

At 31 March 2025, contributions amounting to £17,080 were payable to the fund and were included in other creditors.

30

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

9. Tangible Fixed Assets

Group
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Accumulated depreciation
At 1 April 2024
Charge for the year
Depreciation on disposal
At 31 March 2025
Net book amount
At 31 March 2025
At 31 March 2024
Charity
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Accumulated depreciation
At 1 April 2024
Charge for the period
Depreciation on disposal
At 31 March 2025
Net book amount
At 31 March 2025
At 31 March 2024		 Leasehold
Computer
Fittings &
Motor
Property Improvements Equipment Equipment Vehicles
Total
£
£
£
£
£
£
414,273
23,440
289,425
307,643
3,500
1,038,281
-
1,772
70,798
7,117
-
79,687
-
-
(7,532)
-
-
(7,532)
414,273
25,212
352,691
314,760
3,500
1,110,436
51,890
12,337
197,776
264,406
2,333
528,742
3,202
5,562
37,427
15,638
700
62,529
-
-
(272)
-
-
(272)
55,092
17,899
234,931
280,044
3,033
590,999
359,181
7,313
117,760
34,716
467
519,437
362,383
11,103
91,649
43,237
1,167
509,539
Leasehold
Computer
Fittings &
Motor
Property Improvements Equipment Equipment Vehicles
Total
£
£
£
£
£
£
414,273
23,440
289,425
307,643
3,500
1,038,281
-
1,772
70,798
7,117
-
79,687
-
-
(7,532)
-
-
(7,532)
414,273
25,212
352,691
314,760
3,500
1,110,436
51,890
12,337
197,776
264,406
2,333
528,742
3,202
5,562
37,427
15,638
700
62,529
-
-
(272)
-
-
(272)
55,092
17,899
234,931
280,044
3,033
590,999
359,181
7,313
117,760
34,716
467
519,437
362,383
11,103
91,649
43,237
1,167
509,539

31

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

10. Stocks
Stock
11. Debtors
Trade Debtors
Amounts due from group undertakings
Amounts owed by associated undertakings
Fund Debtors
Other Debtors and Prepayments		 2025
2024
2025
2024
£
£
£
£
40,098
39,637
40,098
39,637
40,098
39,637
40,098
39,637
2025
2024
2025
2024
£
£
£
£
131,959
210,005
131,959
201,674
-
-
20,203
36,937
-
114,393
-
114,393
25,715
49,848
25,715
49,848
45,170
54,611
45,170
54,611
202,844
428,857
223,047
457,463
Group
Charity
Group
Charity

Amounts owed by associated undertakings are unsecured, interest free and are repayable on demand.

12. Creditors: amounts falling due within one year

Bank loans and overdrafts
Trade Creditors
Other taxation and social security
Accruals and deferred income
Other creditors		 Group
Charity
2025
2024
2025
2024
£
£
£
£
-
-
-
-
117,859
141,754
117,859
141,070
110,196
129,757
110,079
82,365
521,097
756,742
519,347
800,629
17,067
23,405
17,067
25,340
766,219
1,051,658
764,352
1,049,404

32

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

13. Funds Restricted Funds - Group & Charity

Pottery Equipment
Groundwork NI
Potterspury
Ready Healthy Eat
Capex
Capex - IT - UKSPF
Total fixed asset funds
UKSPF
Family Service / Big Lottery
Ready Healthy Eat
Digital Academy
Total net asset funds
Total Funds
Pottery Equipment
Groundwork NI
Potterspury
Ready Healthy Eat
Capex
Capex - IT - UKSPF
Total fixed asset funds
Project Verve
Family Service / Big Lottery
Frontier
Ready Healthy Eat
Total net asset funds
Total Funds		 Balance
Balance
1 April
31 March
2024
Income
Expenditure
Transfers
2025
£
£
£
£
£
66,859
-
(4,574)
-
62,285
39,733
-
(1,680)
-
38,053
37,620
-
(869)
-
36,751
234
-
(82)
-
152
48,189
-
(22,940)
-
25,249
22,130
13,675
(7,443)
-
28,362
214,766
13,675
(37,588)
-
190,853
-
2,452,121
(2,417,541)
-
34,580
-
146,410
(146,410)
-
-
-
7,066
(7,066)
-
-
30,210
-
(30,210)
-
-
30,210
2,605,597
(2,601,227)
-
34,580
244,976
2,619,272
(2,638,815)
-
225,433
Balance
Balance
1 April
31 March
2023
Income
Expenditure
Transfers
2024
£
£
£
£
£
71,952
-
(5,093)
-
66,859
41,413
-
(1,680)
-
39,733
43,800
-
(6,180)
-
37,620
316
-
(82)
-
234
67,058
-
(18,869)
-
48,189
-
25,391
(3,261)
-
22,130
224,539
25,391
(35,164)
-
214,766
-
2,131,731
(2,131,731)
-
-
15,483
91,850
(107,333)
-
-
-
36,000
(36,000)
-
-
-
30,210
-
-
30,210
15,483
2,289,791
(2,275,064)
-
30,210
240,022
2,315,182
(2,310,228)
-
244,976

33

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

Restricted funds (continued)

The fixed asset fund is made up of grants received for the purchase of fixtures and fittings and IT equipment; it is represented by fixed assets and reduced by the depreciation charged on the assets.

UKSPF fund represents grants received from the UK Government's Shared Prosperity Fund as part of the SkillSET consortium

The Family Service/Big Lottery Fund represents monies received from Big Lottery Fund. The project provides support to people on the Autistic Spectrum to gain employment.

Ready Healthy Eat fund represents monies received from Big Lottery Fund. The project provides support to people to reduce food poverty.

The Digital Academy Fund represents monies received from philanthropic funding. The project provides support to neurodiverse people to gain employment.

Unrestricted Funds

Group
General Reserves
Designated Funds
Working Capital
Cash Reserves
Capital Assets
Total Unrestricted Funds
Charity
General Reserves
Designated Funds
Working Capital
Cash Reserves
Capital Assets
Total Unrestricted Funds		 Balance
Balance
1 April
31 March
2024
Income
Expenditure
Transfers
2025
£
£
£
£
£
-
2,394,695
(2,475,349)
80,654
-
756,951
-
-
(339,134)
417,817
350,000
-
-
200,000
550,000
294,755
-
(24,651)
58,480
328,584
1,401,706
-
(24,651)
(80,654)
1,296,401
1,401,706
2,394,695
(2,500,000)
-
1,296,401
(4,850)
2,380,489
(2,461,708)
86,069
-
784,436
-
-
(344,549)
439,887
350,000
-
-
200,000
550,000
294,755
-
(24,651)
58,480
328,584
1,429,191
-
(24,651)
-86,069
1,318,471
1,424,341
2,380,489
(2,486,359)
-
1,318,471

34

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

----- Start of picture text -----
Unrestricted Funds (continued)
Balance Balance
1 April 31 March
2023 Income Expenditure Transfers 2024
£ £ £ £ £
Group
General Reserves - 2,422,298 (1,816,515) (605,783) -
Designated Funds
- -
Working Capital 280,952 475,999 756,951
Cash Reserves 250,000 - - 100,000 350,000
-
Capital Assets 286,444 (21,473) 29,784 294,755
-
817,396 (21,473) 605,783 1,401,706
Total Unrestricted Funds 817,396 2,422,298 (1,837,988) - 1,401,706
Charity
General Reserves - 2,393,781 (1,791,753) (606,878) (4,850)
Designated Funds
- -
Working Capital 307,342 477,094 784,436
Cash Reserves 250,000 - - 100,000 350,000
-
Capital Assets 286,444 (21,473) 29,784 294,755
-
843,786 (21,473) 606,878 1,429,191
Total Unrestricted Funds 843,786 2,393,781 (1,813,226) - 1,424,341
----- End of picture text -----

Designated Funds have been set aside for the following purposes:

Working Capital - funds set aside to fund working capital.

Cash reserves - funds set aside to maintain the sustainability of the charity.

Capital assets - represents the net book value of tangible fixed assets purchased with unrestricted funds.

35

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

14. Analysis of group net assets between funds

Restricted
General
Designated
Total
funds
funds
funds
funds
£
£
£
£
Fund balances at 31 March 2025 are represented by:
Tangible fixed assets
190,853
-
328,584
519,437
Net current assets
34,580
-
967,817
1,002,397
Unrestricted
Total
225,433
-
1,296,401
1,521,834
Restricted
General
Designated
Total
funds
funds
funds
funds
£
£
£
£
Fund balances at 31 March 2024 were represented by:
Tangible fixed assets
214,766
-
294,755
509,521
Net current assets
30,210
-
1,106,951
1,137,161
Unrestricted
Total
244,976
-
1,401,706
1,646,682

15. Related party transactions and ultimate controlling party.

The Board of Trustees are considered to be the Charity's ultimate controlling party.

Included within debtors is £20,203 (2024: £36,937) due from Gauge NI C.I.C and £Nil (2024: £114,393) due from Now Training and Employment Enterprise Company Limited by Guarantee.

During the year ended 31 March 2025 The Now Project Limited paid graphic design costs of £24,120 to Gerry-Can Graphic design a business owned by Gerry Monaghan, husband of CEO Maeve Monaghan. During the year Gerry Monaghan also provided pro-bono support amounting to £21,265 to The Now Project Limited.

As at 31 March 2025 amounts owed to Gerry-Can Graphic Design totalled £5,400 (2024: £265).

During the year, The Now Project gave a grant of £185,187 to related party entity Now Training and Employment Enterprise CLG.

16. Legal Status of the Charity

The Now Project Limited is a company limited by guarantee and the liability of the members is limited to a maximum of £1 for each member.

36

Docusign Envelope ID: EAD7CA56-6292-4B17-AE06-8442CB72B3D7

The Now Project Limited Company Limited By Guarantee Notes to the Financial Statements Year Ended 31 March 2025

17. Financial commitments

The group had the following future minimum lease payment under non-cancellable operating leases for each of the following periods:

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |Operating Leases which expire:|£|£| |Within one year|51,222|62,119| |Two to five years|99,348|112,043| |Over five years|9,167|8,500| |159,737|182,662|

----- End of picture text -----

18. Contingent liabilities

There exists a contingent liability to repay unspent grants received from UKSPF Skillset fund. At the year end this liability is estimated to be the value of the closing restricted fund.

19. Subsidiaries

The associated undertakings whose results are reflected in the consolidated financial statements by virtue of control, are as follows:

----- Start of picture text -----
||| |---|---| |Interest consolidated| |Gauge NI C.I.C - NI604444|100%|

----- End of picture text -----

The registered office of Gauge NI C.I.C is 15-17 Grosvenor Road, Belfast, Northern Ireland, BT12 4GN.

20. Net cash generated from operating activities

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |Net incoming resources|(124,848)|589,264| |Depreciation|62,529|56,619| |Interest receivable and similar income|(34,782)|(15,123)| |Decrease in Debtors|226,013|88,074| |(Decrease)/Increase in Creditors|(285,439)|297,193| |Increase in Stocks|(461)|(2,101)| |Net cash inflow from operating activities|(156,988)|1,013,926|

----- End of picture text -----

37