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
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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).
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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
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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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 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 financial statements 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 financial statements to be reached.
## **Calvert Dawson Ltd**
288 Oxford Road Gomersal Cleckheaton West Yorkshire BD19 4PY
16 December 2025
- 4 -
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.
- 5 -
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)
- 6 -
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|
|---|---|---|---|---|
- 7 -
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.
- 8 -
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|
- 9 -
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**
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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|
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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|
- 12 -
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|
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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).
- 14 -