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2025-03-31-accounts

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

Charity registration number 1004608 (England and Wales)

Company registration number 02553828

QED FOUNDATION LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Calvert Dawson Ltd 288 Oxford Road Gomersal Cleckheaton West Yorkshire BD19 4PY

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Z Babar
M Y Nizami
S K Pooni
Secretary M Ali OBE
Charity number 1004608
Company number 02553828
Registered office Quest House
38 Vicar Lane
Bradford
BD1 5LD
Independent examiner Calvert Dawson Ltd
288 Oxford Road
Gomersal
Cleckheaton
West Yorkshire
BD19 4PY

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Statement of cash flows 7
Notes to the financial statements 8 - 14

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

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 charity'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).

Trustees Achievements and Performance

In achieving its objectives during the year under review, QED Foundation delivered a range of education, integration, employability and digital inclusion programmes targeted at disadvantaged and ethnic minority communities across Bradford District and West Yorkshire. Key projects and highlights are listed below.

GCHQ — Understanding British Ethnic Minority Online Workshops

Delivered 10 online workshops attended by approximately 80 managers from across the country.

Workshops continued QED’s long-term partnership with GCHQ (which began in 2019) supporting equality, diversity and inclusion (EDI) practice, with a practical focus on attracting, retaining and developing a workforce that better reflects British society.

The sessions combined insight, lived-experience input and practical actions for organisational change; early participant feedback indicates improved understanding of barriers faced by ethnic minority staff and a commitment to follow-up activity within participating organisations.

IT Essentials (Santander Foundation)

Ongoing three-year programme to deliver 15 x 10-week IT, digital and financial inclusion courses for up to 180 disadvantaged ethnic minority adults in the Bradford District.

Courses lead to an externally accredited Gateway qualification in Essential Digital Skills (Entry Level 3 or Level 1).

Funding supported the purchase and installation of a new computer suite at QED, improving access to devices and enabling blended delivery.

Beneficiaries gained practical digital skills, increased online confidence, and signposting to further training and employment opportunities.

Bridging the Gap (ESOL partnership)

Delivered pre-entry and Entry Level 1 ESOL provision through trained volunteers, as part of a consortium (QED, Meridian, Safety First, WomenZone) led by Shipley College.

Annual delivery targeted 150 beneficiaries across 10 classes, combining language learning with integration activities, information/advice/guidance (IAG) and digital skills.

The programme supported learners to access other services, volunteering and progression routes.

Pathways to Integration & Health (PTIH) — Bradford Council funded

Delivered tailored integration, health, wellbeing and ESOL training and IAG to economically inactive people currently claiming asylum in the Bradford area.

Beneficiaries received bespoke orientation, vocational training support and culturally relevant activities (including visits to local heritage sites) to promote community knowledge, wellbeing and signposting to onward services.

Breaking Barriers (National Lottery Community Fund)

Three-year programme supporting recovery from COVID-19 with ESOL, digital capability development and building financial resilience in disadvantaged ethnic minority communities.

Activities were designed to reduce isolation, address the cost-of-living pressures, and increase access to employment and essential services

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Multiply for Business (West Yorkshire Combined Authority )

Partnership with Realise Training delivering the government’s Multiply numeracy campaign to people working with small employers, charities and community organisations across West Yorkshire.

The project ran from October 2023 to March 2025, delivering practical numeracy support designed for workplace contexts to boost confidence and competence in everyday business numeracy.

Opportunity Knocks for Graduates (Morrisons Foundation)

Pilot employability programme to support 60 ethnic minority graduates in West Yorkshire.

Delivered four-week cohort training (12 participants per cohort) focused on employability skills, networking and confidence-building to address documented employment disparities for ethnic minority graduates.

High Sheriff of West Yorkshire

QED supported Adeeba Malik, Deputy CEO of QED Foundation, in her year as High Sheriff of West Yorkshire.

The unpaid, prestigious role provided an opportunity to raise QED’s profile and extend our networks across statutory, commercial and community sectors.

Quest House room hire and commercial income generation

Began promoting office and training room hire at Quest House with the aim of generating modest commercial income to support charitable activities and improve long-term financial sustainability.

PeopleCert / Home Office Test Centre

PeopleCert had been hiring premises at QED to run Home Office English language tests; this arrangement concluded during the year.

QED expanded fee-charging preparation courses for Home Office English tests (A2, B1) and the Life in the UK test, providing pathway support for those applying for visa extensions, indefinite leave to remain and citizenship.

Job Steps (Groundwork) — ESF-funded

Delivered an ESF-funded project in partnership with Groundwork to support women preparing to enter employment, offering employability training, mentoring and progression support.

Impact and beneficiaries

Across the portfolio of activities, QED directly supported several hundred beneficiaries during the year through accredited training, ESOL, IAG, digital inclusion and employability programmes.

Projects prioritized the most disadvantaged and socially excluded groups, including refugees and asylum seekers, women facing barriers to work, low-income families and ethnic minority graduates.

Early monitoring data and participant feedback indicate gains in language ability, digital confidence, employability skills and wellbeing; many participants progressed to further training, volunteering or employment.

Governance and management

Trustees continued to oversee strategic direction, risk management and financial stewardship in line with the charity’s governing document and statutory obligations.

We maintained and developed partnerships with local authorities, funders and delivery partners to increase reach and impact while diversifying funding streams (grants, room hire and course fees).

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Financial review

It is the policy of the charity 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 charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

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 trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Z Babar

M Y Nizami

S K Pooni

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.

M Ali OBE Secretary

16 December 2025

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF QED FOUNDATION LTD

I report to the trustees on my examination of the financial statements of QED Foundation Ltd (the charity) for the year ended 31 March 2025.

Responsibilities and basis of report

As the trustees of the charity (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.

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. 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:

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.

Calvert Dawson Ltd

288 Oxford Road Gomersal Cleckheaton West Yorkshire BD19 4PY

16 December 2025

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
1,936
586,750
Charitable activities
3
28,815
-
Total income
30,751
586,750
Expenditure on:
Raising funds
4
3,731
82,770
Charitable activities
5
13,196
526,767
Total expenditure
16,927
609,537
Net income/(expenditure) and
movement in funds
13,824
(22,787)
Reconciliation of funds:
Fund balances at 1 April 2024
418,631
28,855
Fund balances at 31 March 2025
432,455
6,068		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
588,686
12,695
865,431
28,815
93,372
-
617,501
106,067
865,431
86,501
8,645
83,289
539,963
34,304
744,255
626,464
42,949
827,544
(8,963)
63,118
37,887
447,486
355,513
(9,032)
438,523
418,631
28,855		 Total
2024
£
878,126
93,372
971,498
91,934
778,559
870,493
101,005
346,481
447,486

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 10 53,437 91,273
Current assets
Debtors 11 35,664 12,586
Cash at bank and in hand 374,836 379,819
410,500 392,405
Creditors: amounts falling due within one 13
year (25,414) (27,095)
Net current assets 385,086 365,310
Total assets less current liabilities 438,523 456,583
Creditors: amounts falling due after more
than one year 14 - (9,097)
Net assets 438,523 447,486
The funds of the charity
Restricted income funds 15 6,068 28,855
Unrestricted funds 16 432,455 418,631
438,523 447,486

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

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 year 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.

The financial statements were approved by the trustees on 16 December 2025

1B2C643C977148D... S K Pooni Trustee

Company registration number 02553828 (England and Wales)

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
Net cash generated from investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(10,429)		 £
5,446
-
(10,429)
(4,983)
379,819
374,836		 2024
£
(10,685)		 £
131,261
-
(10,685)
120,576
259,243
379,819

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

QED Foundation Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Quest House, 38 Vicar Lane, Bradford, BD1 5LD.

1.1 Basis of preparation

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

The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

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 or grantors 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.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity 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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

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.

1.6 Tangible fixed assets

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:

Leasehold land and buildings straight line over 15 years Computers straight line over 4 years

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.

1.7 Cash and cash equivalents

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.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
1,936
-
Government grants
-
586,750
1,936
586,750		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
1,936
12,695
-
586,750
-
865,431
588,686
12,695
865,431		 Total
2024
£
12,695
865,431
878,126

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

3 Income from charitable activities

Other income
Other income
Raising funds
Unrestricted
Restricted
funds
funds
2025
2025
£
£
Fundraising and
publicity
Staging fundraising
events
3,166
65,333
Fundraising agents
-
4,255
Advertising
-
2,438
Other fundraising costs
565
10,744
Fundraising and
publicity
3,731
82,770
3,731
82,770		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
28,815
93,372
Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
68,499
8,042
70,959
79,001
4,255
-
3,861
3,861
2,438
-
3,587
3,587
11,309
603
4,882
5,485
86,501
8,645
83,289
91,934
86,501
8,645
83,289
91,934		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
28,815
93,372
Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
68,499
8,042
70,959
79,001
4,255
-
3,861
3,861
2,438
-
3,587
3,587
11,309
603
4,882
5,485
86,501
8,645
83,289
91,934
86,501
8,645
83,289
91,934
Total
2024
£
79,001
3,861
3,587
5,485
91,934
91,934

4 Raising funds

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Expenditure on charitable activities

Expenditure Expenditure
2025 2024
£ £
Direct costs
Staff costs 253,863 309,624
Depreciation and impairment 37,836 37,836
Staff training 5,772 1,604
Property repairs 13,872 8,271
Telephone, IT and website costs 23,438 17,820
Postage and stationery 9,172 6,760
Sundries 20,490 3,888
Travel and subsistence 11,053 10,751
Associates 161,319 379,333
Accountancy Fees 2,836 2,672
Bank charges 312 -
539,963 778,559
Analysis by fund
Unrestricted funds 13,196 34,304
Restricted funds 526,767 744,255
539,963 778,559
6 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 37,836 37,836

Depreciation of owned tangible fixed assets

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
10 10

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Employees (Continued)
Employment costs 2025 2024
£ £
Wages and salaries 253,863 309,624

There were no employees whose annual remuneration was more than £60,000.

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Tangible fixed assets

Leasehold land
and buildings
£
Cost
At 1 April 2024
279,858
At 31 March 2025
279,858
Depreciation and impairment
At 1 April 2024
235,773
Depreciation charged in the year
18,656
At 31 March 2025
254,429
Carrying amount
At 31 March 2025
25,429
At 31 March 2024
44,085
11
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income		 Computers
£
172,328
172,328
125,140
19,180
144,320
28,008
47,188
2025
£
2
35,662
35,664		 Total
£
452,186
452,186
360,913
37,836
398,749
53,437
91,273
2024
£
1
12,585
12,586

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Loans and overdrafts

Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2025
£
8,668
8,668
-		 2024
£
19,097
10,000
9,097

The long-term loans are secured by fixed charges over 5 years.

13 Creditors: amounts falling due within one year

Notes
Bank loans
12
Trade creditors
Creditors: amounts falling due after more than one year
Notes
Bank loans
12		 2025
£
8,668
16,746
25,414
2025
£
-		 2024
£
10,000
17,095
27,095
2024
£
9,097

14 Creditors: amounts falling due after more than one year

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2024 Incoming Resources At 31 March
resources expended 2025
£ £ £ £
28,855 586,750 (609,537) 6,068
Previous year: At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
(9,032) 865,431 (827,544) 28,855

Docusign Envelope ID: 2DEC2B1F-3A38-47C7-8FA6-8CBFA8DEE616

QED FOUNDATION LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2024 At 1 April 2024 Incoming Resources At 31 March At 31 March
resources expended 2025
£ £ £ £
General funds 418,631 30,751 (16,927) 432,455
Previous year: At 1 April 2023 Incoming Resources At 31 March
resources expended 2024
£ £ £ £
General funds 355,513 106,067 (42,949) 418,631
Analysis of net assets between funds
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 53,437 - 53,437
Current assets/(liabilities) 379,018 6,068 385,086
432,455 6,068 438,523
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 91,273 - 91,273
Current assets/(liabilities) 336,455 28,855 365,310
Long term liabilities (9,097) - (9,097)
418,631 28,855 447,486

17 Analysis of net assets between funds

18 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).