Company Registration Number: 02572091
MARKETING SKILLS TRUST LIMITED
(A CHARITY AND A COMPANY LIMITED BY GUARANTEE)
CHARITY REGISTRATION NUMBER
1001865
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

MARKETING SKILLS TRUST LIMITED
CONTENTS
Page
Reference and administrative details of the Charity, tts Trustees and advisers
Trustees, report
Independent audltors. report on the financial statements
8-12
Statement of financial actlvltles
13
Balance sheet
14
Notes to the financial ststernents
15-22

MARKETING SKILLS TRUST LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
Z V Easton, Trustee (appointed 25 April 2024)
P Jones, Trustee {appointed 25 April 2024)
M Troughton, Trustee
C L Gillespie. Trustee
F Good, Trustee
M Patron, Trustee
N L 8 Myers, Trustee
A Gowan, Trustee (resigned 25 April 2024)
Charity registered number
1001865
Company reglstered number
02572091
Prlnclpal office
18 Beningfield Drive
st. Albans
AL21UJ
Independent auditors
Barnes Roffe Audit Limited
Chartered Accountants
Leytonstone House
3 Hanbury Drive
Le￿onStOne
London
E11 1GA
Page 1

MARKETING SKILLS TRUST LIMITED
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors of the company, who are the trustees for the purposes of charity law, submit their annual report
and audited financial statements for the 12 month year ended 31 December 2024. The directors have adopted
the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities"
issued in October 2019 in preparing the annual report and financial statements of the charitable company.
Objectives and activities
. status of the Charity
The company has been established as a company limited by guarantee and is governed by Its memorandum
and articles of association dated 07 January 1991 as amended by special resolutions dated 26th March 1993,
17th March 2005 and 16th June 2006.
b. Charltable objects
The charitable objects of the company as set out in its Memorandum include promoting advancement of
education in direct marketing, the provision of educational facilities to persons taking part or intending to take
part in direct marketing and to assist in the improvement of educational and training stsndards. Following the
acquisition of the DMF, the Company's objects wll be extended so that the company shall sejve and protect the
interests of the consumer, especially those who are vulnerable, and to improve the consumers experience of
direct and digital marketing.
The Trustees have taken account of Charity Commission guidance on publi¢ benefit in planning and carrying out
their adiv(ties.
Page 2

MARKETING SKILLS TRUST UMITED
TRUSTEES. REPORT {CONTINUED}
FOR THE YEAR ENDED 31 DECEMBER 2024
Objectives and activities {continued
c. Current and future plans
In pursuit of these revised objects, the objectives of the company are to encourage the best young talent to enter
the marketing profession. The company works to improve the employability of those graduates leaving education
and entering the market. The company also works to support the advancement of education in marketing as
applied to industry, commerce, govemment and the public seNice at all levels, and to provide access to
educational facilities, both general and specialised, for persons taking part in or intending to take part in direct
and digital marketing, management organisation and administration processes, and generally to assist in the
improvement of educational and training standards.
Our aim is, by supporting universities in improving the depth and quality of undergraduate education in direct,
data and digital marketing we will expand the community studying the discipline and ensure the best
understanding of modern marketing techniques.
In addition, the company seeks to provide grants to train and qualify young people who do not go to universty but
have a desire and ability to succeed in a marketing careerthrough working with providers of apprenticeships and
similar schemes.
The company Supports responsibl8 marketing. We encourage companies using direct and digital techniques to
uphold industry codes of practice. We are concemed that the impact of direct marketing should be a positive
one. To that end. we fund projects which benefrt the consumer, especially those that provide increased
protection for vulnerable consumers.
The company also funds projects which contribute to general compliance and enhance the reputation of direct
and digital marketing, providing a well governed environment for customers to conduct business using one-to-
one channels.
In order to understand better the impact of data driven and digital techniques on consumers, the company funds
research projects which provide insight in thi5 area.
Page 3

MARKETING SKILLS TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
ObjeGtives and activities (continued)
d. Main achievements of the charity
The Trustees have referred to the guidance in the Charity Commission's general guidance on public benef1t
when reviewng their aims and objectives and in planning their future activities. In particular the Trustees have
considered how planned activities wll contribute to the aims and objectives they have set.
The Trustees are pleased to report that the Marketing Skills Trust has fijnded the following projects..
Brixton Flnishing School - £104,000
Brixton Finishing School aims to connect tslent from under-represented communities with employers in the
marketing and advertssing industry.
We are pleased to sponsor a Head of ADventure for the school's outreach programme that's designed to
introduce the next generation of diverse talent to the mynad of roles and opportunities in the marketing industry.
The grant commitment is for an initial year period.
School of Marketing - £88,400
Gen Z Mentoring (£50,000)
The Trust provided funds towards a nationwide mentoring programme called Mentoring Gen Z, an initiative
which helps young people from 16-28 years find a route into the industry through free access to virtual mentoring
sessions with some of Br(tain's top marketing leaders.
A total grant of £50,000 was made available to the School of Markeling this year to cover the costs of the
programme and continue the initiative as previously set-up, aided by our grant from the year 2021.
Content Development (£38,400)
The Trust also provided matched funding from another sponsor to help the School of Marketing develop its
podcast, to expand and improve the quality and deve5opment process - and to achieve brand recognition for the
Marketing Skills Trust
Marketlng Student Bursary Program - £16,600
This IDM Certtficate in Dlgital and Data-driven Marketing program provides additional qualifications alongside a
degree to support a student's entry into the marketing industry workplace.
A total of 177 students completed the course and passed the final Certfficate examination.
Additional grants funded prizes for marketing competitions.
DMA Professional Memberships Program: Development programme for indlvlduals - £19,750
This funding is to provide the DMA online learning materials and examination for an initial 50 students. This
programme wll enable individuals from underrepresented groups to access leaming to continually build skills
and knowledge, forming an ongoing leaming habit for the rest of their career.
This commitrnent is for an initial one-year period but the programme is expected to run for three years.
Page 4

MARKETING SKILLS TRUST LIMITED
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2D24
Objectives and actlvities (Continued)
e. Fundraising Plans
Ther Trustees are conscious that the level of grant-making current]y eX￿ed$ the regular income to the charity.
We are adively looking to introduce new income into the charity by means of marketing industry events and
fundraising campaigns
and by seeking from donations from marketing industry bodies who share the same
objectives as our charity.
Flnanclal review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the goin9
concern basis can be found in the accounting policies.
b. Reserves policy
The trustees had previously identified nine months. direct charitable expendsture as an appropriate level of funds
to be held in reserve to enable the organisation to ensure continuing operation in the event of contingencies and
to provide working capital for day-tTrdsy operations.
Free reserves are defined by the Charities Commission as unrestricted funds which are not designated or held
as functional fixed assets. At the end of the year the balance of General Fund stood at £337,895 compared with
£553,650 at the prewous year end. The trustees wll continue to retain funds until the reserves reach the desired
target figure.
The trustees re￿1ve regular management 1rrfo￿natIOn on the status of reserves. The policy is reviewed
annu811y.
c. Investment policy
The Trustees have chosen to avoid investrnent risk and to retain 5urplu5 funds in an interest eaming bank
account.
d. Income
The Company received Bank Interest Income of £19,588.
The Company received income from the Graeme Robertson Trust of £9,365.
Page 5

MARKETING SKILLS TRUST LIMITED
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
e. Expenditure
The total expenditure for the year was £244.708 compared to £139,286 last year.
The company made grants totalling £228,750, a breakdown of which can be seen wtthin Note 6.
Support Costs totalled £9,415.
Legal and professional costs were £3,194 for the year made up of £3,000 audit fees and £194 on other legal
costs.
Computer costs were £766 made up of website development expenditure.
Further administrative costs of £2,583 were incurred, relating to management's travel and subsistence for trustee
meetings, marketing costs, meeting costs, insurance and bank charges.
Structure? governance and management
a. Constitution
Marketing Skills Trust Limited is a registered charity, number 1001865.
b. Methods of appointment or electlon of Trustees
The charitable company is limited by guarantee, the liability of members being restricted to £1 payable in the
event of the company being liquidated. Its goveming document is the Memorandum and Articles of Association.
Trustees are selected on the basis of the contribution they have made to raising professional slandards within
direct, data and digital marketing. Trustees are exemplary exponents of the profession and have excellent track
records in running direct, data and digital marketing businesses. They are elected by a quorum of trustees.
New trustees will receive an induction programme and will be assigned a trustee to act as a mentor.
The trustees define the strategy of the charity and the programmes which fulfil the objects. The trustees will meet
at least four times each year to set strategy, approve grants and rewew the finances of the charity.
c. Risk management
The Trustees will annually examine the major strategic, business and operational risks which the charity faces.
Page 6

MARKEllNG SKILLS TRUST LIMITED
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2024
ststèment of Tru6tees' responsibilities
The Tfustees ar2 responsible for p￿Paring the Trustee$. report and the financial ststem¢nts in accordance with
applicable 12w and United Kngdom Accoun￿ng Standards (United lfjngdom Generally Accepted Accounting
Pradi¢e).
The applicable to charttles in England & Wales requiTrs the Trustees to prepare finanrial statements for
eaGh flnanryal year which give a true and fair Mew of the state of affairs of the Chartty and of sts in¢oming
sources and appliLxtion of resources, induding its income and expenditure. for that period. In prepartng Ihe$e
financA81 statements, the Trustees are requiTed to:
select suitable 8ccounlng polic4es and then appty them consistenuy.
observe the methods and principles of the ChaFitses SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent
state whether applicablè UK Accounting Standards (FRS 102) have been followed. Subject to any materi81
departures disdosed and explainéd In the ffinan￿al statements.,
prepare the finanual 6tatements on the golng ¢oncEm basis unless it is Snappropriatè to prasume that the
Chaiity will Gontinue In business.
The Trustees are responslble for keeping adequate accounting records that are sufficient to show and explain
the Chartys trans*ct50ns and disclos8 with reasonable aGoJracy at any time the financial position of Ihe Charity
and enable thom to ensure that the financial ststements comply the Charitr2s Ath 2011, the Charity
(Accounts and Reports) Regulations 2008 and the Pro￿$10n$ of the Trust deed. They are also responslble for
safvguafdlng the assets ol the Charty and hence for taking re8s0nable steps for the preventlon and detecbon of
fraud and other Irregularities.
Disclosure of Infonnalton to audltors
E8ch oflhe persons who are Trnstees at Ihe time when this Trustees, report is approved ha5 confiTmed th8L'
so far as that Trustee 5s aware, thore Is no relevant audit information of whith the (*ar¢¢s auditors gre
unaware, and
that TrustÈe has taken all thè steps that ought to have been tsken &8 a Trustee In order to be aware of
any relevant aU￿rt inforniation and to estab￿Sh thatthe charfty5 audttors a￿ aware ofthat infornatlon.
Audrtorn
After the year end Barnes Roffe LLP resigned as audltOT5 due to trle transfer of their audit business and its
sucessor Bames Roffe Audtt Limlted was appointed by thg trustees under 5485 of the Companies Act 2006.
Bames Roffe Audit Limited have indieated their willingness to continue in office. The designated Tnjstees will
propose a motion reappointing the auditoTS at a meeting of the Trustees.
&oproved
by
order
of
the
board
and signed on their behalf by.
Tru*ees
on
1S-Q£- IS
M Troughton
(Chair of Trustees)
Page 7

MARKETING SKILLS TRUST LIMITED
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF MARKETING SKILLS TRUST LIMITED
Opinion
We have audited the financial ststements of Marketing Ski51s Trust Limited (the 'chariV) for the year ended 31
December 2024 which comprise the statement of financial activities, the balance sheet, and the related notes,
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 financial statements..
glve a true and fair view of the state of the charitys affairs as at 31 December 2024 and of its incoming
resources and application of resource5 for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordan￿ with the requirements of the Companles Act 2006.
Basls for opinion
We conducted our audit in accordan￿ with International Standards on Auditing (UK) {ISAs (UK)} and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial statements section of our report. We are independent of the charity in accordance with the ethica5
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council'5 Ethical Standard, and we have fulfilled our other ethical responsibilitie5 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.
Concluslons relating to golng concern
In auditing the financial statements, we have conduded that the Trustees, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied. we have not identified any material uncertainties relating to 6vents or
conditions that, individually or collectively, may cast significant doubt on the charivs ability to continue as a going
concem for a period of at least ￿e1ve months from when the financial ststements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concem are described in the
relevant sections of this report.
Page 8

MARKETING SKILLS TRUST LIMITED
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF MARKETING SKILLS TRUST LIMITED
(CONTINUED)
Other Information
The other information comprises the information included in the annual report other than the financial statements
and our auditors, report thereon. The Trustees are responsible for the other information contained within the
annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent otheNise explicitly stated in our report, we do not express any form of assurance conclusion thereDn. Our
responsibility is to read the other information and, in doing so, Consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
othenmise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a msterial misstatemènt in the financial
statements themselves. If, based on the work we have perfomed, we conclude that th8re is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the Gourse of the audit:
the information given in the twstees, report,which includes the strategic report and the dlrectors, report
prepared for the purposes of company law, for the financial year for which the financial statements are
prepared is consistent with the financial statements., and
the strategic report and the directors, report included within the trustees, report has been prepared In
accordance with applicable legal requirements.
Matters on which we are required to report by exception
n the light of the knowledge and understsnding of the charitsble companyand its envircsnment obtained in the
course of the audit,we have not identified material misstatements in the strategic report or the directors, report
included wtthln 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=
adequate accounting records have not been kept, or retums adequate for our audit have not been re￿iVed
from branches not visited by us; or
th6 financial statements are not in agreemenlmth the accounting records and retums; or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit-, or
the trustees were not entided to prepare the financial statements in accordance wilh the small companies,
regime.
Page 9

MARKETING SKILLS TRUST LIMITED
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF MARKETING SKILLS TRUST LIMITED
(CONTINUED)
Responslbllltles of trustees
As explained more fully in the trustees, responsibilities statement, the Trustees s (who are also the directors of
the charitable company for the purposes of company law) are responsible for the preparation of the financial
statements which give a true and fair view, and for such intemal control as the Trustees determine is necessary
to enable the preparation of financial statements that are free trom material misstatement, whether due to fraud
or error.
In preparing the financial statements, the Trustees are responslble for assesslng the charltys abillty to contlnue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the Trustees erther intend to liquidate the charity or to cease operations, or have no
realistic altemative but to do so.
Page 10

MARKETING SKILLS TRUST LIMITED
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF MARKETING SKILLS TRUST LIMITED
(CONTINUED)
Auditors, responsibilities for the audit of the financial statements
Vve have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole are free
from material misstatement, whether due to fraud or error, and to Issue an auditors, 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) wll always detect a material misstaternent when it exists. Misstatements can arise
from fraud or error and are considered material if, indNidually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial ststements.
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:
Our approach to identifying and assessing the risks of material misststement in respect of irregularities,includlng
fraud and non-compliance with saws and regulations, was as follows:
The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance wth 8pplicable laws and regulations,.
We identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commercial knowledge and experience of the relevant sector,.
W6 focused on specific laws and regulations, which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companles Act 2006;
We assessed the extent of compliance with laws and regulations identified above through making enquires
of management and inspecting legal correspondence and identified laws and regulations were
communicated within the audit team regularly and the team remained alert to instances of non-compliance
throughout the audit.
We assessed the susceptibility of the companys financial statements to material misstalement, including
obtaining an understanding of how fraud might occur, by.
Making enquires of management as to where they consSdered there was susceptibility to fraud. their
knowledge of actual suspected and alleged fraud., and
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we".
Performed analytical procedures to identtfy and unusual or unexpected relationships.,
Tested joumal entries to identify unusual transactions:
Assessed whether judgements and assumptions made in detemiining the accounting estimates were
indicalive of potential bias. and
Investigated the rationale behind significant or unusual transactions.
A further description of our responsibilities for the audit of the financial ststements is located on the Financial
Reporting Council's website at: www.frc.o
.uklauditorsres
onsibilrties. This de5CriPtion forms part of our
auditors, report.
Page11

MARKETING SKILLS TRUST LIMITED
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF MARKETING SKILLS TRUST LIMITED
(CONTINUED)
Use of our report
This report is made solely to the charitys trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's trustees 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 charity
and its trustees, as a body, for our a
rk. for this report, or for the opinions we have formed.
Simon
Iggins FCA (senior
for and on behalf of
Barnes Roffe Audit Limited
Chartered Accountants
Leytonstone House
3 Hanbury Drive
Le￿on$tone
London
E11 1GA
ory auditor)
Date..
Barnes Roffe Audit Limited are eligible to act as auditors in tenns of section 1212 of the Companles Act 2006.
Page 12

MARKETING SKILLS TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Charitable activitie5
Investments
9,365
19,588
9,365
19,588
18,127
Total Income
28,963
28,953
18, 127
Expenditure on:
Charitable activities
244,708
244,708
139, 286
Total expenditur8
244,708
244,708
139, 286
Net movement in funds
(215,755)
{215,7551
(121, 159)
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
553,650
(215,755)
553,650
(215,755)
674,809
(121, 159)
Total funds carried foNRrd
337,895
337,895
553, 650
The Statement of financial acttvities includes all gains and losses recognised in the year.
The notes on pages 15 to 22 fom part of these financial ststements.
Page13

MARKETING siaLLS TRUST UMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Curront assets
Debtors
Investments
Cash at bank and in hand
7.113
377,129
34,228
5.633
511,1S4
42,776
10
418,470
559.573
Credftors: amounts falling due wtthin one
year
11
180,576)
(4923)
Net current assets
337.895
553,650
Total net assets
337,895
553,650
Charity funds
Restricted funds
Unrostrirted funds
Totsl fund$
12
12
337.895
553,650
337,895
553,650
Th$ finandat statements were approved and 8Uthorised for Issue by the Trustees on
13-G- IS and signed on their behalf by.
M Troughton
(Chair of Trustees)
The notes on pages 14 to 21 form part ol these financial statements.
Page 13

MARKETING SKILLS TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General Informatlon
Marketing Skills TNsts Limited is a private company limited by guarantee incorporated in England and
Wales, registered Number 02572091. Details of the registered office and principal activities are included
inthe company's Trustee's report.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been p￿pared 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 IFRS 102) (effective 1 January 2019). the Financial Reporting Stsndard
applicable in the UK and Republic of Ireland (FRS 102) and the Companie5 AGt 2006.
The financial statements have been prepared to give a 'true and fair, view and have departed from
the Charities (Accounts and Reports) Regulations 2008 only lo the 8Xtent required to provide a 'true
and fair, view. This departure has involved following the Charities SORP (FRS 102} published in
October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended
Praciice effective from 1 April 2005 which has since been withdrawn.
Marketing Skills Trust Limited meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy.
2.2 Golng concern
The company has significant reseNes sufficient to cover anticipated expenditure. The trustees
accordingly believe the company is a going concern for at least ￿e1ve months from the date of
approval of these accounts and for the foreseeable future.
2.3 Income
All incoming resources are included in the SOFA when the charity is legally entitled to the income and
the amount can be quantified with reasonable accuracy.
Legacy income is recognised as soon as this ha5 been notified and can be measured with sufficient
reliability. Estimates of notified legacies which cannot be reliably measured are included as notes in
the accounts.
Income from donations and grants is recognised when the chartty has entitlement to the fijnds, any
performance conditions attached to the grants have been met, it is probable that the income will be
re￿iVed and the amount can be measured reliably and is not deferred
Page 15

MARKETING SKILLS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies {contlnued)
2.4 Expendlture
Expenditure on charitable activities is inCu￿ed on directly undertaking the activities which further the
Charity's objectives, 8$ well as any associated 5UPPOrt costs.
All expenditure is accounted for on an accruals basis once there is a legal or constructive obligation
to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits wlll be
required in settlement and the amount of the obligation can be measured reliably.
Grants payable are recognised as costs when the award is paid or the recipient notified of the grant.
Resources expended on charitable activities represent the expenditure applied by the charity in
undertaking its work to meet its charitable objectives. Govemance costs represent the costs of
running the charity and group as a legal entity and include the costs of external audit, legal advice for
trustees on constitutional issues and the costs of trustee meetings.
I resources expended are inclusive of irrecoverable VAT.
2.5 Forelgn ¢urTencies
Foreign currency transactions are translated into sterling at the rates ruling when they occurred.
Foreign currency monetary assets and liabilities are translated at the rates ruling at the balance
sheet dates. Any drfferences are taken to the profit and loss account.
2.6 Investments
Current asset investments
Current asset investments are held at cost, plus any accrued income to the balance sheet date.
These short-term investments have a maturity date of less than one year.
2.7 Debtors
Short-temi debtors are measured at transaction price, less any impaiment.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 LiabIll￿e$ and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past
event. it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
Page 16

MARKETING SKILLS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies (continued)
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustee5 in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are fvnds which are to be used in accordance with specific restrictions Imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such fvnds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Critical accounting estimates and areas of Judgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable undèr the
circumstsnces.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions COn￿ming Ihe future. The resulting accounting estimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment lo the carrying amounts of
8ssets and liabilities within the next financial year are discussed below.
In the opinion of the Trustees there are no estimates and assumptions that may have a signfficant rlsk of
causing a material •dJustment to the carrying amounts of assets and liabilitie5.
Income from charitable activitles
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Income from charitable activities
9.365
9,365
Page 17

MARKETING SKILLS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment Incorne
Unrestricted
funds
2024
Total
funds
2024
Interest receivable
19,588
19,588
Unrestricted
funds
2023
Total
runds
2023
Interest receivable
18, 127
18. 127
Allocation of total resources expended
Unrestricted
funds
2024
Total
funds
2024
Grant programme
Support costs
Audit fees
General admin
228,750
9,415
3,000
3,543
228,750
9,415
3,000
3,543
244,708
244,708
Unrestricted
funds
2Q23
Total
funds
2023
Grant programme
Support costs
Audtt fees
General admin
112,050
18,370
4,500
4,426
112,050
18,310
4,500
4,426
139,286
139,286
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MARKETING SKILLS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of grants
Total
funds
2024
Grants
2024
Grant programme
228.750
228,750
Tot81
fvnds
2023
Grants
2023
Grant programme
112,050
112,050
An analysis of the above grants are as follows:
2024
2023
Talent Apprenticeship Growth Programme
School of Marketing
Brixton Finishing Schools
DMA Professional Membership Program
Southdown Housing Associallon
TMA Apprenticeship
Culture for Heroes
16,600
88,400
104,000
19.750
14,850
98,400
300
(1,500)
228,750
112,050
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MARKETING SKILLS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities
Grant
funding of Support and
activities
other costs
2024
2024
Total
funds
2024
All funds
228,750
15,958
244,708
Grant funding Support and
of activities
other costs
2023
2023
rotal
funds
202S
l fijnds
712,050
27,236
139,286
Debtors
2024
2023
Due within one year
Other debtors
7,113
5,633
10.
Current asset investments
2024
2023
Unlisted investments (liquid)
377,129
517, 164
11.
Credltors: Amounts falllng due within one year
2024
2023
other creditors and accruals
80,575
5,923
Page 20

MARKETING SKILLS TRUST UMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.
Statement of funds
Statement of funds - current year
BalanGe at 31
December
2024
Balance at 1
January 2024 Income
Expendlture
Unrestricted funds
General Funds- all funds
553,650
28,953
(244,708)
337,895
The funds of the charity include designated fijnds set aside by the trustees to be applied for specific
purposes.
ststement of funds - prior year
Balance at
1 January
2023
88lance at
31 December
2023
Income
Expenditure
Unrestricted funds
General Funds - all funds
674,809
18, 127
(139, 286)
553, 650
13. Analysls of net assets between funds
Analysis of net assets between funds- current period
Unrestricted
funds
2024
Total
funds
2024
Current assets
Creditors due within one year
418,470
(80,575)
418,470
{80,5751
Total
337,895
337,895
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MARKETING SKILLS TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13. Analysis of net assets beiween funds {Gontinued)
Analysls of net assets between funds - prior period
Unrestricfed
fvnds
2023
Total
funds
2023
Current assets
Creditors due within one year
559, 573
(5, 923)
559, 573
(5, 923)
Total
553, 650
553, 550
14. Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 31 December 2024, expenses tot8lllng £547 were reimbursed or paid directly to
Trustees to facilitate Trustees, meetings (2023 - £992).
15.
Guarantee company and Ilablllty of members
Marketing Skills Trust Limited is a company limited by guarantee and therefore does not have a share
capital. There is no controlling party.
The liability of members is limlted. In the event of the charity being wound up during a members period of
membership, an amount not exceeding the sum of £1 may be required from that member towards the
payment of the debts and liabilities of the company incurred before membership ceased.
16.
Related parties
There were no transactions with related party during the year.
Page 22