REGISTERED COMPANY NUMBER: 08121374 (England and Wales)

REGISTERED CHARITY NUMBER: 1184616

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

NEW MEANING FOUNDATION

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Cash Flow Statement

7

Notes to the Cash Flow Statement

8

Notes to the Financial Statements

9

to

14

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity's objects are building modular homes for ex-homeless residents and training ex-homeless and others from a background of hardship including SEND learners, in construction and functional skills.

Significant activities

During the year the charity constructed installed and commissioned 4 SPACE microhomes in Cambridge, for the charity "It Takes a City" Community Land Trust. Three premium quality MoJo SPACE Garden Studio buildings were also completed to meet building regulations and planning requirements, all for private customers including a studio flat with kitchen and bathroom plus an office; a reflection study for a recently retired Vicar and a large office plus storage facility.

Peripatetic work experience and study programmes were completed by 10 additional needs learners (functional skills and employability programme over 10 months.) Entry 3 to Level 2 construction skills qualifications were also delivered as an Alternative Education Provider to 15 additional needs learners all with specialist education requirements according to individual Education, Health and Care Plans.

Public benefit

The trustees have complied with the duty in S4 of the 2006 Charities Act to have due regard to guidance published by the Charity Commission on public benefit..

FINANCIAL REVIEW

Financial position

The financial statements for the year ended 30 September 2025 show a small surplus which is encouraging, and the trustees consider the overall result to be satisfactory.

Reserves policy

The trustees seek to hold 6 months of unrestricted reserves. Reserves as at 30 September 2025 stood at £150,721.

FUTURE PLANS

The charity continues to operate a peripatetic learner's scheme covering Cambridgeshire to North Hertfordshire and Bedfordshire. The charity continues to search for a new factory and training centre location. The reach and capability of the construction team continues to expand. A commercial kitchen extension contract has been awarded by the Cambridge City Council as has a conversion of an Ipswich Church Hall into 3 studio flats, with communal kitchen, lounge; the building to be completely insulated and renovated in the process. Projects centred around training and "patient employment" for beneficiaries include potentially 20 more SPACE microhomes and an innovative low-income-residents, "Achievable Affordable" community led housing scheme are in development with various collaborators and investors.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The company registered as a charity with the charity commission on 26 July 2020.

Recruitment and appointment of new trustees

Trustees are recruited via advertising, contacts, and through the networks of existing trustees.

Risk management

Risks for construction projects include rising materials costs, weather effects or inaccurate quotes. Also staff leaving can be considered to provide a risk to the organisation.

Changes in legislative requirements for Additional Needs provision require ongoing training and safeguarding improvement measures across the organisation. With EHCP learners many have specific requirements such as provision of 1 or 2 chaperones; behaviour management strategies, etc. There can be a risk to peers if these approaches are not understood, coached and updated as necessary.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08121374 (England and Wales)

Registered Charity number

1184616

Registered office

Unit 1, Cambridge House Camboro Business

Oakington Road, Girton

Cambridge

Cambridgeshire

CB3 0QH

Trustees

A G W Beckett Director

J C Evans Director

P Zipp Director

Ms R I P Orde Director (resigned 14/10/2024)

S Pickering Director (resigned 14/2/2025)

A Aus Director (resigned 12/3/2026)

Ms L Canham Director (resigned 18/12/2024)

Ms T Dawson Director

E Jallow Director (appointed 14/2/2025)

Independent Examiner

Staffords

Chartered Accountants

Unit 1, Cambridge House

Camboro Business Park

Oakington Road, Girton

CAMBRIDGE

Cambridgeshire

CB3 0QH

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 27 July 2026 and signed on its behalf by:

A G W Beckett - Trustee

Independent examiner's report to the trustees of New Meaning Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts 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)).

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 accounts to be reached.

Matthew Pettifer FCA

The Institute of Chartered Accountants in England and Wales

Staffords

Chartered Accountants

Unit 1, Cambridge House

Camboro Business Park

Oakington Road, Girton

CAMBRIDGE

Cambridgeshire

CB3 0QH

Date: .............................................

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

40,332

-

40,332

10,217

Charitable activities

4

General

744,292

-

744,292

499,580

Total

784,624

-

784,624

509,797

EXPENDITURE ON

Charitable activities

5

General

727,015

-

727,015

475,610

NET INCOME

57,609

-

57,609

34,187

RECONCILIATION OF FUNDS

Total funds brought forward

93,112

-

93,112

58,925

TOTAL FUNDS CARRIED FORWARD

150,721

-

150,721

93,112

2025

2024

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

97

-

97

194

CURRENT ASSETS

Debtors

13

62,199

-

62,199

77,320

Cash at bank

150,173

-

150,173

117,913

212,372

-

212,372

195,233

CREDITORS

Amounts falling due within one year

14

(61,209

)

-

(61,209

)

(86,130

)

NET CURRENT ASSETS

151,163

-

151,163

109,103

TOTAL ASSETS LESS CURRENT LIABILITIES

151,260

-

151,260

109,297

CREDITORS

Amounts falling due after more than one year

15

(539

)

-

(539

)

(16,185

)

NET ASSETS

150,721

-

150,721

93,112

FUNDS

17

Unrestricted funds

150,721

93,112

TOTAL FUNDS

150,721

93,112

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 27 July 2026 and were signed on its behalf by:

A G W Beckett - Trustee

Cash flows from operating activities

Cash generated from operations

1

52,764

(61,917

)

Interest paid

(1,790

)

(362

)

Net cash provided by/(used in) operating activities

50,974

(62,279

)

Cash flows from investing activities

Purchase of tangible fixed assets

-

(291

)

Net cash provided by/(used in) investing activities

-

(291

)

Cash flows from financing activities

New loans in year

-

29,395

Loan repayments in year

(18,714

)

(3,383

)

Net cash (used in)/provided by financing activities

(18,714

)

26,012

Change in cash and cash equivalents in the reporting period

32,260

(36,558

)

Cash and cash equivalents at the beginning of the reporting period

117,913

154,471

Cash and cash equivalents at the end of the reporting period

150,173

117,913

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

57,609

34,187

Adjustments for:

Depreciation charges

97

97

Interest paid

1,790

362

Decrease/(increase) in debtors

15,121

(26,067

)

Decrease in creditors

(21,853

)

(70,496

)

Net cash provided by/(used in) operations

52,764

(61,917

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/10/24

Cash flow

At 30/9/25

£

£

£

Net cash

Cash at bank

117,913

32,260

150,173

117,913

32,260

150,173

Debt

Debts falling due within 1 year

(20,839

)

3,068

(17,771

)

Debts falling due after 1 year

(16,185

)

15,646

(539

)

(37,024

)

18,714

(18,310

)

Total

80,889

50,974

131,863

1.	LEGAL FORM

The charity is a registered charity registered in England and Wales, and a company limited by guarantee having no share capital incorporated in England and Wales.

Its registered office is Unit 1, Cambridge House, Camboro Business Park, Girton, Cambs, CB3 0QH.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Computer equipment

-

33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

40,332

10,217

4.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

£

Primary purpose trading

General

701,832

489,580

Grants

General

42,460

10,000

744,292

499,580

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

General

723,894

3,121

727,015

6.	SUPPORT COSTS

Governance

costs

£

General

3,121

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

97

97

8.	TRUSTEES' REMUNERATION AND BENEFITS

2025

2024

£

£

Trustees' salaries

53,300

50,525

Trustees' social security

6,925

5,717

60,225

56,242

John Evans, a trustee was remunerated in accordance with the articles of the charity. This was in respect of services supplied for both project management and working as the full time CEO of the charity.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2025 nor for the year ended 30 September 2024.

9.	STAFF COSTS

2025

2024

£

£

Wages and salaries

388,570

211,089

Social security costs

35,871

13,070

Other pension costs

4,998

3,339

429,439

227,498

The staff costs relating to Key Management Personnel were £60,225 (2024: £56,242).

The average monthly number of employees during the year was as follows:

2025

2024

Operations

17

12

No employees received emoluments in excess of £60,000.

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

fund

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

10,217

-

10,217

Charitable activities

General

499,580

-

499,580

Total

509,797

-

509,797

EXPENDITURE ON

Charitable activities

General

475,610

-

475,610

NET INCOME

34,187

-

34,187

RECONCILIATION OF FUNDS

Total funds brought forward

58,925

-

58,925

TOTAL FUNDS CARRIED FORWARD

93,112

-

93,112

11.	INDEPENDENT EXAMINER'S REMUNERATION

The independent examiner received remuneration during the year of £3,088 (2024:£2,615).

12.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 October 2024 and 30 September 2025

28,474

1,162

29,636

DEPRECIATION

At 1 October 2024

28,474

968

29,442

Charge for year

-

97

97

At 30 September 2025

28,474

1,065

29,539

NET BOOK VALUE

At 30 September 2025

-

97

97

At 30 September 2024

-

194

194

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

62,199

77,320

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 16)

17,771

20,839

Social security and other taxes

9,392

6,578

Other creditors

31,343

47,563

Accruals and deferred income

2,703

11,150

61,209

86,130

15.	CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 16)

539

16,185

16.

LOANS

Loans comprise a bounce back loan of £4,159 (2024:£7,269) from HSBC Bank PLC, and a loan of £14,151 (2024: £29,395) from Unlimited.

17.	MOVEMENT IN FUNDS

Net

At

movement

At

1/10/24

in funds

30/9/25

£

£

£

Unrestricted funds

General fund

93,112

57,609

150,721

TOTAL FUNDS

93,112

57,609

150,721

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

784,624

(727,015

)

57,609

TOTAL FUNDS

784,624

(727,015

)

57,609

Comparatives for movement in funds

Net

At

movement

At

1/10/23

in funds

30/9/24

£

£

£

Unrestricted funds

General fund

58,925

34,187

93,112

TOTAL FUNDS

58,925

34,187

93,112

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

509,797

(475,610

)

34,187

TOTAL FUNDS

509,797

(475,610

)

34,187

18.	RELATED PARTY DISCLOSURES

New Meaning Training Limited

A company with directors in common

2025

2024

£

£

Amount due to related party at the balance sheet date

29,415

44,550

Mojo Foundation

A charity with trustees in common

2025

2024

£

£

Amount due from related party at the balance sheet date

45,093

45,093

These amounts are disclosed in Other Debtors and Other Creditors as appropriate.

The loan to the Mojo Foundation was made by the directors in the knowledge that it may never be recovered due to the perilous economic situation in the Gambia, but are confident that the funds will be used for charitable purposes.