The trustees present their annual report and financial statements for the period ended 31 December 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document, the Companies Act 2006 and "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).

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

It is the policy of the charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company’s current activities while consideration is given to ways in which additional funds may be raised. The results for the period are very disappointing, this arising from delays in the commencement of projects and an imbalance of work between projects which generate a contribution to overheads and those which are subsidized. The trustees are working to restore the level of reserves, following the losses incurred in the period.

Healthcare – creating safe, resilient hospitals and clinics.

Education – designing schools that expand opportunities for children, including those with disabilities.

Housing – delivering disaster-resilient homes and safe shelter

Resilience – ensuring our buildings withstand climate change, seismic events, and other risks.

The trustees confirm that these activities continue to deliver identifiable public benefit and contribute to the achievement of 16 of the 17 UN Sustainable Development Goals.

In the past year, Article 25’s work has reached communities around the world on a remarkable scale. Our healthcare facilities provided treatment and care for more than 550,000 patients, while our schools are now educating over 2,300 children, opening up opportunities for brighter futures. Through our housing projects, over 1,600 people now live in safer, more resilient homes.

The ripple effects of our work extend far beyond these direct beneficiaries. Our buildings are now places of work for approximately 2,000 clinicians in hospitals and 2,400 people employed during construction, strengthening livelihoods and supporting local economies.

During 2023–24, we worked on ten separate projects across the globe, each of which contributed to lasting improvements in education, healthcare, and shelter. Collectively, our programmes touched lives in 35 countries and supported 16 of the 17 United Nations Sustainable Development Goals.

Our commitment to excellence and innovation has also been recognised internationally, with three prestigious awards presented to our projects this year, affirming the quality of our designs and their positive impact.

Behind these numbers is the power of partnership. For every pound donated, we secured an equivalent pound in professional pro bono support, doubling the value of contributions and ensuring that every resource is maximised. This generosity amounted to more than 14,000 volunteer and professional hours dedicated to our projects.

Together, these achievements represent far more than statistics: they tell the story of lives improved, futures secured, and communities empowered through thoughtful, sustainable design.

Projects we’ve worked on during the financial period

1. Cheka Sana Shelter - Mwanza, Tanzania

This project aims to provide safe, temporary shelter for street-connected children in Mwanza, Tanzania. The project offers vulnerable children a secure environment; housing up to 40 children in dormitories, with shared dining and classroom spaces to foster a sense of community.

2. Child Support Tanzania - Tanzania

This project enables children with disabilities to join a mainstream school curriculum at age five. The design includes spacious, well-lit classrooms for 160 children, a dining hall, music rooms, computer rooms, physiotherapy spaces, a sensory garden and outdoor play areas and a sports field.

3. Kao La Amani Children’s Village - Boma Ng’ombe / Tanzania

This project provides vulnerable children of all ages a new home. The project consists of six cottages for groups of children, each with its own live-in ‘Mama’. Designed as a safe place where children of different ages can grow and develop together, it includes intimate living and study spaces and expansive areas for sport and play.

4. New National Hospital - St John’s / Montserrat

This project encompasses the design and delivery of a new purpose-built hospital taking into account the challenging environment and the difficulty to source materials due to its isolated location. Article 25 architects designed a new 57,000 sq ft, 25-bed hospital to be located on the site of the existing Glendon Hospital in St John’s, Montserrat. Construction works on the New National Hospital started in 2025

5. Volcano Interpretation Centre - Montserrat

Article 25 completed the concept design for 2 options for a volcano interpretation centre, with an exhibition area of approx. 100sqm, located in the area adjacent to the National Museum of Montserrat. Article 25 issued its report to the Government in Nov. 2024 and are awaiting a response before actioning any next steps.

6. Boufi Hospital - Morrocco

Article 25 commenced the refurbishment of floor one of the Bouafi Hospital in Casablanca. Article 25 created two new operating theatres, a sterilization suite, a neonatal intensive care ward, a paediatric intensive care ward and staff areas for changing and resting.

7. Blues Creamery - Rwanda

Article 25 provided the masterplan for the site includes commercial-scale cheese-making facilities, hospitality, community spaces, and educational areas, all within an off-grid development. The project acts as an inspiration for sustainability globally, hitting 16 of the UN’s 17 Sustainable Development Goals.

8. Muzaffarpur Hospital - India

Article 25 completed the feasibility study for the outpatient department alongside a flood mitigation strategy report. Ahead of moving onto Stage 2, the Development of design options and Cost estimate, TLM India stopped the project in May 2024 due to unforeseen circumstances. The project is currently on hold.

9. Anandaban Mycobacterial Research Laboratory - Nepal

Article 25 produced a proposal for a 1,100sqm new laboratory and a 500sqm refurbishment in two buildings which will house a Vivarium, Pharmacy and Blood Bank. The buildings were also designed to improve thermal comfort, with limited use of air conditioning, given the necessary requirment to meet biosafety or operational requirements. Due to a devastating landslide during the year this project has now been put on hold.

10. Collège Amadou Hampaté Bâ - Niger

Article 25 designed and delivered new classrooms and associated facilities that will enable the college to accommodate up to 1,200 children from primary school age right through to sixth form. Our work on this project was recognised by multiple international awards; including: RIBA Awards of Excellence 2024 and the AIA UK Awards 2024.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

I report to the trustees on my examination of the financial statements of Article 25 (the charitable company) for the period ended 31 December 2024.

As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charitable 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 the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

the financial statements do not accord with those records; or

the financial statements 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 financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Without qualifying my examination, I draw attention to note 1.3 in the accounts concerning the charity’s ability to continue as a going concern.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

designated

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

designated

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the period ended 31 December 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Article 25 is a private company limited by guarantee incorporated in England and Wales. The registered office is 6th Floor, 1 Canada Square, London, E14 5AB, United Kingdom.

The financial statements are presented for a period of 16 months ending on 31 December 2024, as such the comparative amounts, for the year ended 31 August 2023, presented in the financial statements (including the related notes) are not entirely comparable.

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention,. The principal accounting policies adopted are set out below.

The financial performance in the period fell significantly short of expectations, with the balance sheet at the period end showing a deficit on unrestricted activities of £134,281. This was a result of delayed contracts, and an imbalance between projects which generate a contribution and those which are more heavily subsidized.  As a result, costs were cut in Q4 2024 and again in Q1 2025, such that the charity is now operating on a sustainable basis.

At 31st December 2024 the charity had four main creditors:

i: A term loan of £55,000, which is repayable on 12 months written notice to repay. As at the date of approval of the financial statements no such notice had been issued.

ii: A loan of £20,000 which has been repaid post year end.

iii: A Covid bouceback loan of approximately £15,000 which is being repaid monthly through to the summer of 2026.

iv: A third party debt of approximately £90,000, which has been progressively repaid in 2025. As at the date of approval of the financial statements this debt had been reduced to £18,000 and will be paid off by the end of November 2025.   

The Trustees have prepared a cashflow which includes the impact of a number of expected projects and shows the charity remaining cash positive for the next 12 months. Therefore at the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The charitable company 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 charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts 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 or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, 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.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument 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.

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

In the application of the charitable company’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.

There were no critical accounts estimates or judgements made in the period (2023: none).

Grant income

Fundraising activities

Fundraising events

Travel expenditure

Mission costs

Rent, Rates and Service Charge

Communications

Office costs

Insurance

Computer costs

Bank charges and interest payable

The average monthly number of employees during the period was:

The key management personnel of the charitable company comprise the trustees and the senior management team. The total amount of key management personnel benefits (including employer pension contributions) received by key management personnel for their services to the charitable company was £192,655 (2023: £152,856), although this is a 16 month period compared with a 12 month period in 2023.

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Of the loans £55,000 (2023: £55,000) is unsecured, interest free and repayable on 12 months written notice by the lender and £20,000 (2023: £Nil) is unsecured, interest free and repayable on demand. The loan of £20,000 was repaid subsequent to the year end.

The remainder of the loan balance is a bounce back loan that is unsecured and interest is charged at 2.5% from June 2021 – June 2026.

The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £10,374 (2023 - £6,648).

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

During the 16 month period there was unrestricted income from the trustees totalling £50,000 (2023 - £35,000)