COMPANY REGISTRATION NUMBER: N1632815 CHARITY REGISTRATION NUMBER: NIC104224 New Beginnings Charitable Foundation Company Limited by Guarantee Unaudited Financial Statements 31 December 2025 PHELAN & PRESCO Chartered accountants River House Home Avenue Newry Co Down BT34 2DL New Beginnings Charitable Foundation Company Limited by Guarantee Financial Statements Year ended 31 December 2025 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Slatement of financial activities (including income and expenditure account) Statement of financial position Notes to the finanaal stalements New Beginnings Charitsble Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 December 2025 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial st*ements of the charity for the year ended 31 December 2025. Referen¢e and administrative details Registered chaiity name New Beginnings Charitable Foundation Charity registration number NIC104224 Company registration number N1632815 Principal office and reglstered 6 NeWcaS￿e Street office Ikeel County Dovm BT344AF Northeffl Ireland The trustees Jenntfer Annett Lisa Cousins Neil Davey Jamie Hanna Robyn Knox Company secretary Adele Knox Independent examiner PheSan & Prescott RNer House Home Avenue Newry Co Down BT34 2DL Strategic report The following sections for achievements and ￿fOrmanCe and financial review fo￿ the strategic report of the charrty. Objecttves and Activities New Beginnings Charitable Foundth"on will seek to prowde the resources to allow development and maintenance ol secure housing, education and medical facilits'es for under privileged and orphaned children in Uganda and elsewhere in due crAJrse. A¢hlevements and Performance During the year the charity has provided resources to further its aims towdrds the village and sch(K)l in Uganda which are managed by a New Beginnings CharitatAe TTUSt (a company limited by guarantee registered in Ugandal. Financial Review During the year the charity had net outgoing resources of £10,833. The trustees are satisfied with the perfOrnian￿ and believe they will be able lo meet the charty objectives into the future. Structure and Govemance The charity is a company limited by guarantee registe￿ in Northern Ireland The charity is managed by the trustees who meet regularfy and are all 5Uitably qualrfied for thebr roles. The trustees, annual report and the strategic rewrt were approved on 2 June 2026 and signed on behalf of the board of trustees by.. kAAk) Adele Knox Charity Secretary New Beginnings Charitable Foundation Company Limited by Guarantee Independent Examiner's Report to the Trustses of New Beginnings Charitable Foundation Year ended 31 December 2025 I report to the trustees on my examination of the financial ststements of New Beginnings Chaniable Foundation {'the charity'l for the year ended 31 December 2025. Responsibilities and basis of report As the trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial stalements in accordance with the ￿uIrementS of Charities Act (Northem Ireland) 2008 {Ihe '2008 AcY} and the Companies Act 2006 I'the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examinatK)n. Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examinats'on of the charilws financial statements as carried out under section 65 of the 2008 ACL In carrying out my examin*ion I have followed the general Direth"ons given by the Charity Commission for Northern Ireland under section 65{9llbl of the 2008 Act. Independent examlnerfs sLqtsment Since the chanty's gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies. I have completed my examination. I confifm that no matters have come to my attention in connection with my examination gNing me cause to believe that in any matertal ￿Spect accounting records were not kept in respect of the charlty as required by section 386 of the 2006 ACL or the financial statements do not ￿e0rd with those records.. or the financial statements do not comply with the accounts.ng requirements of secb'on 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. or the financial statements have not b*n prepared in accordance with the meth￿S and prinCip￿S of the Statement of Recommended Practice for accountsng and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporbng Standard applicable in the UK and Republic of Ireland IFRS 1021- New Beginnings Charitable Foundation Company Limitsd by Guarant88 Independent Examinerfs Report to the Trustees of New Bèginnings Charitable Foundation {continwdJ Year ended 31 December 2025 I confirm that there are no other matters to wh￿h your attention should be drawn lo enable a proper understanding of the accounts to be reached. Phelan & Prescott Charteied Accountants Independent Examiner River House Home Avenue Newry Co Dowrk 8T34 2DL 2 June 2026 New Beginnings Charitsble Foundation Company Limited by Guarantse Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2025 2025 Unrestricted funds Total funds Total funds 2024 Income and endowments Donations and legacies Chantable activities Other trading a¢tivits"es Investment income 247,313 5.221 81.922 5,160 339,616 247,313 5,221 81.922 5,160 339,616 261,749 9,710 83,391 Total income 354,852 Expenditure Expenditure on charitable activities Total expenditure 9,10 350,449 350.449 340,895 350.449 350,449 340,895 Ngt (expenditurelllncome and net movement in lund5 (10.8331 110,8331 13,957 Reconciliation of funds Total funds brought forward Total funds carried fobward 291.241 291,241 280.408 277,284 280.408 291,241 The statement of financial a¢tivitEs includes all gains and losses wogntsed in the year. All income and expenditure ¢Jerive from ¢ontr"nuing activiltes. Tho notes on pag•s 6 to 10 fonn part of these financSal ststements. New Beginnings Charitable Foundation Company Limited by Guarantee Statement of Financial Position 31 December 2025 2025 2024 Note Current assets Cash at bank and in hand 282.011 292,779 Net current assets 282,011 282.011 292,779 292,779 Total assets less ¢urrenl liabilities credito￿.. arnounts falling due after more than on¢ year 13 1.603 1,538 Net assets 280.408 291,241 Funds of the charlty Unrestricted funds 280,408 280.408 291,241 291,241 Total charity funds 14 For the year ending 31 December 2025 the charity was enb'rfed to exemption from audit under secbon 477 of the Companies Act 20￿ relating to small companie5. Directors. responsibilib"es= The members have not required the company to obtain an audrt of its financial statements for the year in question in accordance wth section 476- The directors acknowledge their responsibilities for complying with Ihe requirements of Ihe Act with respect lo accounting records and the preparation of financial statements. These financial statements have been prepared in accordance wrth the provisions applicable to companies subject to the small companies. regime. These financral statements We￿ apFYoved by the board of trustees and alrthorised for t5sue on 2 June 2026. and are signed on beha￿ of the board by= Jennifer Annett Treasurer Neil Davey Chairperson The notes on pages 6 to 10 forn) part of ttwse financial ststements. New Beginnings Charitable Foundation Company Limited by Guarantee Notes to the Financial Statsments Year ended 31 DOc•m￿r 2025 General 5nforniatlon The charity is a public benefrt entity and a prtvate company limited by gu8rantee, registered in Northern Ireland and a registered charty in Northem Ireland. The address of the registered office is 6 Newcastle Street, Kilkeel. County Dow. BT344AF. Northern Ireland. Statement of compliance These financial slatements have been prepared in compliance with FRS 102. The Financial Reporb'ng Standard applicable in the UK and the Republic of Ire￿nd,, the 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 IFRS 102} ICharits"es SORP IFRS 10211 and the CoMpan￿S Act 2006. Accounting policies Basis of preparatlon The financial statemenis have been prepared on the historical cost basis, as mcxjified by the revaluation of certain financial assets and liabilities and investment properbe5 measured al fair value through income or expendituie. The financial statements are prepared in steding. which ¢s the fvnctional currency of the enbty. Golng ¢on¢ern There are no material unCertaint￿S aLKJut the charty's abilty to conkn'nue. Fund accountlng Unrestricted funds are available for use at the discr8ts.on of the tNstees to further any of the charity's purposes. Designaled funds are unrestricted funds eaTharked by the trustees for parbcular futtjre project or commitment. Restricted funds are subjected lo restricts)ns on their expenditure declared by the donor or through the terms of an appeal. and fall into one of Iwo sub4lasses'. restricted income funds or endowment funds. New Beginnings Charitable Foundation Company Limited by Guarantse Notes to the Financial Ststements Ic¢¥7tinued) Year ended 31 December 2025 Accounting policies fcontlnuedl Incomlng resour¢es All incoming resources are included in the statement of financial activities when entillement has passed to the chartty," it is probable that the econom￿ benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific FKplic￿s are applied to particular categories of income". income from donations or grants is reco9nised when there is evidence of entitbment lo the gifL receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entrtlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in whieh c£se the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can te reltably measured. No amounts are included for the contribution of genefal volunlee(s. income from contracts for Ihe supply of servi￿$ is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for tt to be spent on a patticular purpose and retumed rf unspen( in which case may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fulty recovered. and is classifled under headings of the statement of financial activities lo which il rektes.. expenditure on raising funds includes the costs of all fundraising &tivities, events, non-charitable trading activities, and the Sa￿ of donated go(xls. expenditure on charitable activiltes includes all costs incurred by a charity in undertaking activities that further its chariiable aims for the benefit of its beneficiaries, irTrcluding those support costs and costs rdating to Ihe governartrce of the chanty apportioned to ¢haritable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of rts expenditure on charrtable actNib"es_ I costs a￿ &located to expenditu￿ categories refiecting the use of the resource. Direct msts attributable to a single acb.vity are allocated dire¢tty tr) that aclivrty. Shared costs are apportioned be￿een the ackn"vits"es they contn.bute to on a reasonable. justsfiable and ￿nSIStent basis. F(nancial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contrxtual provisions of the instTumenl. Basic financial instruments are inib.ally recognised at the amount receivable or payable including any related transaction costs. New Beginnings Charitsble Foundation Company Limitsd by Guarantee Notes to the Financial Statements (¢onlinuo11) Year ended 31 December 2025 Accountlng pollcles (coiilinuedj Financial Instruments fconttnuedj Current assets and current liabilrties are subsequently measured at the cash or other considerab.on expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Vvhere investments in shares are publicly traded or their fair value can othetwise be measured reliably. the investment is subsequentty measured al fair value with charkge5 in fair value ognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other flnancial instruments, including derivatives. are inthally recognised ai fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that Is not a market rate, in which case the asset is measured at the present value of the futur8 payments discounted at a market rate of interest for a similar debt instrument Other financial instruments are subsequently measured at fair value. wth any Changes recognised in the statement of financial acbvitEs. wrth the except￿ of hedging instruments in a designated hedging relabonship. Financial asseis Ihat are measured al cost or amortised cost are revtewed for objective evidence of irnpairmenl at the end of each reporting date. If there is objective evidence of impaiment. an impairment loss is reccgnised under the appropriate heading in the statement of financial acb'vitie5 in which the initial gain recognised. For all equty instfuments regard￿S of s￿nIfiCance, and other financial ass8ts that are individually significant, these are assessed individually for irnpairment Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaimient a￿ recognised immediately. to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee Donations and legacles Unrestricted Total Funds Unrestri¢te¢J Total Funds Funds 2025 Funds 2024 Donations Donations 47,746 47,746 75.667 75.667 Glfts Gift aid 36,832 36,832 32.803 32.803 Sponsorshlp Sponsorship 162,735 162.735 153,279 261,749 153,279 247,313 247.313 261,749 New Beginnings Charitable Foundation Company Lirnited by Guarantse Notes to the Financial Statements (c(thued) Year ended 31 December 2025 Charllable aclivities unrestn.cted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising 5,221 5,221 9.710 9,710 other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Shop income 81.922 81.922 83.391 83.391 Investrnent income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest receivable 5,160 5.160 Expendlture on charltable actfvltle5 by fund type Unrestricted Total Funds Unrestn'cted Total Funds Funds 2025 Funds 2024 Uganda transfers & travel Support costs 287,784 62.665 287.784 62.665 284,366 56,529 284,366 56,529 340,895 350.449 3SO,449 340,895 10. Expenditure on charitable activitse5 by aclivity type Acts"vrties undertaken directly Support costs Total funds 2025 Total fijnd 2024 Uganda transfers & travel Govemance costs 287.784 59,600 3.￿5 62.665 347,384 3,065 3SO,449 338,044 2,851 340,895 287.784 11. Staff costs The total staff costs and em[A0y￿ benefits for the reporting perDd are analysed as follows.. 202S 2024 Wages and salaries 42,678 37,123 The average head count of employees during the year was 2 {2024'. 2). New Beginnings Charitable Foundation Company Limited by Guarantee Notes to the Financial Ststements Iconthu Year ended 31 December 2025 11. Staff costs {continiMd) No employee received employee benefrts of more than £60,000 during the year12024.. Nil). 12. Truste& remuneratlon and expenses No rernuneration was received by twstees. 13. CreditOf5: amounts falling due after more than one year 2025 2024 Accruals and deferred income Social securty and other taxes 1,200 403 1,200 338 1,603 1,538 14. Analy818 of charltable funds Unreslricted funds At l January202 At 31 Dècornber 2025 Income Expenditure General funds 291.241 339.616 (350,449) 280.408 At l January 202 31 December 2024 Income Expenditure General funds 277,284 354,852 1340,895) 291,241 10-