Registerèd number.. 02707807 Charity number: 1011133 THE PACE CENTRE LIMITED (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 THE PACE CENTRE LIMITED IA Company Llmlt8d by Guarantee) CONTENTS Page Rèf&rènc8 and AdmlnSstratlve D8tslls of th8 Company. Ils Trustees and Advisers Trnst8es' Report 2-15 Independent Auditorj. Report on thè Flnanelal Statements 16-19 statement of Financial Activities 20 Balance Sheet 21-22 ststement of Cash Flows 23 Notes to the Flnancial Statements 24-42 THE PACE CENTRE LIMITED IA Cornpany Limited by Guaranteèl REFERENCE AND ADMINISTRATIVE DETAILS OF THE GOMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST2025 Trustees Mr Simon Adams lappointgd 26 March 20251 Mrs Karen Bradley, Deputy Chair Mr Andrew Coxall Mr Colin Hayfield, Chair Ms Emily Ingrams (appointed 26 November 20241 Mr Oaniel Lawson Mr Steven Markwell lappoinled 26 Marckn 20251 Ms Kay Taylor Company Teglst¢r¢d number 02707807 Charity registsred number 1011133 Reglstered offlct Bradbury Campus 156 Wendover Road Ayl•sbury Buckinghamshire HP22 STE Principal operatlng office Coventon Road Aylesbury Buckinghamshire HP19 9JL Chlef executive officer Mr Richard Wiltshire (resigned 31 December 20241 Caroline Bennett lappointe(J 1 January 20251 Indèpendent auditor5 A2ets Audit Services Suites B & D Burnham Yard Beaconsfield Buokinghamshire HP9 2JH Page 1 THE PACE CENTRE LIM￿ED IA Company Llmlttd by Guaranlèel TRUSTEES. REPORT FOR THE YEAR ENOEO 31 AUGUST 2025 Thg. tniqtp.p.* hAVP. plp.2qiirp. in prp.¢p.ntino Ihpir ￿nni1>1 rApnrt and aiiditpA fin>neial gt>tpmenls for thè yèsr ended 31 August 2025 for The Pace Centre Limited. also known as Pace. The trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charitie5' IFRS 1021 in preparing the annual ￿part and financial statements of the charity. Truslees of the Charity The Company is managed by a Board of Trustees who ar¢ also Directors of the Company. rhe Board sh811 review the term of each trustee on a regular basis Ènd refresh the Board as may be required. A list of trustees who have served during the period ar8". Trustees Mr Colin Hayfield (Designated Chair September 20241 Mrs Karen Bradley (Deputy Chair, September 20241 Mr Andrew Coxall Mr Daniel Lawson Ms Kay Taylor Mrs Emily Ingrams {8PPOlnted 26 November 20241 Simon Adams lappointed 26 March 20251 Stepher) Markwell lapDointed 26 March 20251 Nicola Pear￿{26 March 2025- 21 October 20251 (Safeguarding lead) Mrs Helen Shepherd resigned 24 September 20241 Ms Sarah Craker (resigned 24 SeptèmbÈr 20241 Mr David Irvine Iresigned 24 Septernber 20241 Ms Satabharra Pudaruth (resigned 24 September 20241 The tnjstees have set up a number of sub committees as follows: Finan(* and op8rab.ons committe8'. stephen Markwell Ichair May 2025- to P￿sentI Dan Lawson Educ81ion cornmittee: Andrew Coxall (Chair September 2024 to Present) Simon Adams Child and Family committee.. Kay Taylor Ichair, September 2024 to Present}. Emily Ingrams Recruitment and onboarding of new trustees ig ongoing. The full board will consist of Chair, Deputy and Safeguarding lead. Thre8 subcommittees, with a Chair and Iwo members each. Page 2 THE PACE CENTRE LIMITED (A Company Limited by Guarantoel TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST2025 Objectivoa and ootlvitie$ Policie5 and oblactivas Our Aims and Objectives Our Purpos8- Pace Is a specialist charity that is committed to ensuring that thildren with neurodisabilities have the opportunity lo reach their fullest potential in life. Fundamental to our appr03ch is a belief in every child's ability lo learn and make progress, whatever the physical or sensory challenges they face. pa￿ delivers life- changing educational and clinical support to babies. toddlers, children and young people IBTCYPI vAth complex neurodisabilities and practical support and advice lo their families. We sliive to continually advance best pracilce in our field. Our Vision.. The Pace vision is thet every child in the UK wllh a neurodisability, and thelr family, can access educational and clinical support aligned with the Pace approaoh. To that end, we work very Intentionally lo share our expertise, to tr8in other providers and praclilioners and to campaign for better provision. Our Guiding Prinaples= The current and future nee¢Ys of the t3a1118s, 10(J(Jiers, Lniidren and Young peopie18TCYPI we work wlth are t the core of everything we do. We have a positive belief in every individual's ability to learn and 51rive contlnUOUsly tr) ensure that they are equipped with the skills thtsy need to be as active and independent as possible. Pace is 8 family8ch is developed around best practi￿$ and current standards. Since the Introduction of GDPR on 25 May 2018. we have continued to review and. where appropriate, revise our policies and pr0￿dUreS, including dat8 capture, the complaints procedure, dats transfer, and the implementation of dats subjects, preferences. All fvndraising is done in-house and not outsourced to any professional fundraisers or commer(Mal participants. Pace has op18d to join the Fundraising Regulator. The Fundraising Regulator holds the Code of Fundraising Practice for the UK. We follow the stsnd8rds lor charitable lundraising, ensuring th8t our fundraising is respectful, open. honest and accountable to the publi¢. Pace has not knowingly failed to comply with the Standards of pradic8. Pace has not received any complaints regBrding its fundr8lsing efforts in the period onded 31 August 2025 or to the date of this report. Page 11 THE PACE CENTRE LIMITED IA Company Limited by Guaranteo) TRUSTEES. REPORT ICONT5NUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Achlov8m8ntg arbd pprformance Icontlnuod) Flnanclal revlew The trustees remain focused on the need to continue lo maintain and improve the charity's finanaal svstsinability. Over pmvious yBars. the charity had successfully grDwn income 8cmss fts key areas of activity and was operatillg within it5 reserves policy. However with a loss in the year 2023124 and a break-even oultum in 2024125 we are now operating just outside our reserve Policy set in 2022. Following a risk-based assessment an updated reserves policy was agreed by the Trustees in Sprino 2026 and is included within this report. Excellent school student numbers, allowing Pace lo absorb increases to the cost bas8, such as tha natlonal minimum wage and National Insurance increase meaning we did not dÈpleat out reserves any further. PACE W8s abl8 hav8 8 ll8t increase in funds of £1,652. The cash collection prooess remains robust. In August 2025 the majority of Autumn term school fees were invoiced leading to both an increase in debtors and deferred income. Investment Policy The trustees feel that the most appropriate policy for investing the unrestricted reserye is a deposit account or fixed-tetm deposit Iwith a rnaxitnum maturity of two years) with a major UK institution, preferably in a product th81 has been de51gned for the charitv sector. Reserves Policy The trustees reviewed and updated their policy for the charity in Sprsng 2026. The level of unrestricted reserves required 45 based ofi the risk to revenue stre8m5, the level ol support costs and the tirne taken to undertake an orderly reduction of expenditures. School incorre Reserves equal to 4 pupils. fees for 6 weeks 14 pupils is 10°/0 of the nominal role and pupils must give 6 weeks notice when exiting the schooll1£44,0001 Provision of staff to other schools No reserve as funders must provide one tem)'s notice Thera sessions ReseNes eqLJal lo 6 month's Income1£65,0001 Fund r8isin Reserves equal 10 4 month's Income1£216,0001 Su ort costs Reserves equal to 6 month's salary costs for identified support staff1£322,000) Plus 6 months governance cosls1£58,0001 Reserves reqvir8d based on the identified risks are £705,000. At 31 August 2025 the total reserves were £3.069,21812024.' £ 3.067.566). The restricled reserves, which can only be spent as directed by the donor were £1,873,119 12024." £1,898.7431. These reserves principal present incurred c8Pltal Costs on the development 81 Wendover Road and are baing released 8s the development C4JSt is depreciated. The depreciation charge for the period against these resiricted balances Is £90,026. Unr8strictéd resérves on 31 August 2025 were £1,196,09912024". £1,168,823). Page 12 THE PACE CEhlTRE LIMITED IA Company Limited by Guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Achi8v•ments and perforniance (continuedl Actual unrestricted reserves at 31 August 2025 were £491.099 greater than the Reserves Policy Smo￿nt. Going Conce The financial statemen15 have been prepared on a going concern basis. The trustees h8ve considered the level of funds held and the expected level of income and expenditure for 12 months from the dale of approval of these financi815tatements. Detailed cash flow forecasts have been prepared and reviewed by the trustees 8nd continue to be reviewed on a regulai basis against actual results. In order to provide support to Ihe charity, in 2016 a long-lerm interest free loan facility 01 £1,000,000 was provided by a donor whilst the sustainability strategy first adopted in 2016 comes to fruition, as detailed in note 16. At the beginning of the year £500,000 had been drawn down all of which has been converted into donations. Taking into account the charitls uniestricled reserve5, cash balances and the availability of the undr8wn balance ol this loan facility 01 £500.000, the trustees have a reasonable expectation that Pace will have adequate resources to continue in operational existence for the foreseeable future and it is Iherefore 8ppropriate to adopt the going con￿rn basis of accounting for these financial statements. The Irust8es are Gonfident that Pace rernains a going c4)nc8rn. Risk Review The trustees, together with staff, have implemented c4)ntrols and procedures throughout the organisalion to Minim￿$￿ extemal and intem81 risk and ensure a consistently high quality of education and c3re tor thg chil(Jren and appropriate working conditions for staff. At a strategic level, and as noted elsewhere in this report, Ihe Iruslees have continued lo focus on the mitigation of the key risks., the need to maximise the ￿sh resources of the charity and the need for th8 ch8rity to continue to be sustainable. The key risks have been identified as follows.. Financi31 turbulence.. Pace cannot continue to rety on Fundraising to support its core services. The finanaal Peaks and troughs over the last 30 years dernon5trat8 the volatility of this rnodel. The risks are twofold. 11 Pace k)se income and uses reseNes to a valu8 tral risks its going cono8rn status. 21 Pace doesn't have the funds to evolve 8nd develop, making il less attractive to fund8rs and donors alike. To mitigate this risk, Pace's emerging 2025126 strategy locuses on c05t-recovery models, bursary fvnding. and added-value fundraising. Serious Incid8nt-. Safeguarding of chIld￿n al Pa￿ is pararnount. The risk 15 that a serious incident of non- compliance with the statutory guidance would affect our reputation and the placement of children al the school. All staff members receiv8 child protection training as soon after their appointmenl as possible. Any Sssues are brought lo the designated safeouarding officerfs attention and followed up on immediately. There are tem)ly safeguarding and health and safety monitoring meetings which rewew any matters. Nominated trustees have c>verall responsibility for safeguarding and health and saf8ty and carry out spot checks from time to lime to ensure compliance. Safeguarding and health and safety are on all Senior School Management team. Leadership team and Trustee meeting agenda. Page 13 THE PACE CENTRE LIM￿En IA Company Llmltèd by Guaranteè) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Ae.hlAvAmtsintR 2nA PArfnrnixnrA {rmntlniJAdl Loss of Ofsted oulstsnding or good-. If the School does not meet the practice, educational and regulatory stsndards required of 8 school as rne8sured by Ofsted and the Department for Education. The risk would be that our reputation as an Outstanding school would be lost and this would impact on pupil placement at the school and our charitable fundraising. To mitigate this risk, on joining the organisalion, all staff members receive rigorous induction training, including safeguarding, health and safety, educational and clinical practice modules, observation and assessment by the senior team. In addition, all staff members are required to read all the regulatory policies held on the organisation's intranet in their first month and their supervisor ensures that this has been done. The Headteacher reviews these policies annually and any changes are communicated lo all staff. Ir a breach, however srnall, is noliced, all staff are reminded of th8 policy. Regulatory training is carried out for all staff routinely throughout the year. Pace has very clear and robust standards of practice which are shared with new staff and existing staff at perfomiance reviews. Strueture, governance and managèment a. Consiitullon The Pace Centre Limited is registered as a charitable company limited by guarantee and was sel up by a Trust deed. b. Mèthods ol appolntmènt or èlèetlon of Trustèes The trustees are appointed by the Board who elect or re*lect the Iwstees. The 8tYdrd of Tnjstees reviews the term of each trustee on a regular basis to refresh the Board as may be required. An induction programme is in place which involves both information and training delivered by senior staff. Trustees are also invited to take an active part in the life of Pace at open days. fundr815ing and other corporate events. The day-to-day activities of the charity are run by the Leadership team consisting of the Chief Executive. Head Teacher and the Director of Therapy Services. The charity's key management salaries are benchmarked against Similar roles at similar-sized charitie5 and are approved by the trustees. The board shrank considerably at the end of 23124 and we have been recruiting over the year. The recruitment of Simon Adams. Stephen Ma￿ell and Nicola pear￿ increased the number to a level that could sustsin the sub-COtnmitt88 model. The subsequent r8signation of Nicola Pearce does not invalidate th8 sub-committee model. Recruitment continues. Small company provision In preparing this report, the trustees have taken advantage of the small companies. exemption provided by section 415A ol the Companies Act 2006. Page 14 THE PACE CENTRE LIMITED IA Company Limited by Guorantèèl TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Statement of Trustees. responslbllltles The Trustees Iwho are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare financial slalements for each financial year. Under company law, the Truslees must not approve the finanaal ststements unless they are satisfied that they give a true and fair view of the state of affairs of the Ci)mpany and of its incoming resources and application of reSoUr￿s, Including its incorne and expenditure, for th81 period. In prepa¥ing these finanaal statements. the Trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Gh8rities SORP IFRS 1021.. make judgments and aceounling estimates that are reasonable and prud6nt.' state whether applicable UK Accounting Stsndards IFRS 1021 have been followed, subject to any material departures dis¢losed and explained in the financial statements", prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequ8te accounting records that are sufficient lo show and explain the Company's transactions and disclose wSth reasonable accuracy al any lime the financial position of the Company and enable them to ensure that the financial slaternents oomply with the Compani8s Act 2006. They are also responsible for saf8guarding the assets of the Company and hence for tak&ng reasonable steps for the prevention and deteclion of fraud and other irregularities. Disclosure of infgrmatlon to auditors Each ofthe persons who are Trustees at the time when this Trustees. Report is approved has confirnied that.. so far as that Truslee is aware, there is no relevant audit information of which the charills auditors are unawa￿, and that Trustee has taken all the steps that ought to h8ve been taken as 8 Trustee in order to be 8w8re ol any relevant aL¢dit information and to establish that the charily's auditors are aware Of that infomialK)n. Auditors The auditors, Azets Audit Services, have indicated their willingness lo continLJe in office. The designated Trustees will propose a motion reappointh"n9 the auditors 8t a rneeiing of the Trustees. Approved by order of the members of the board ol Tnjstees and signed on their behalf by.. Mr Colln Hayfield Date.. 9.¢4S. Zpi Page 15 THE PACE CENTRE LIMITED IA Company Limited by GLrarant881 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE PACE CENTRE LIMITED Oplnlon We have audited the financial statements of Th8 Pace Centre Litnited Ith8 'Gharitabl8 company'l ft>r th8 year ended 31 August 2025 which compnse the Slalemenl of Financial Aclivilies, the Balance Sheet. the Statement ol Cash Flows and the related notes, including a summary c>f significant accoLJnting poliues. The financlal reporting framework that has been applied in their preparation 1$ 3ppIic8ble law and United Klngdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practi￿}. In our opinion the financial ststements.. give a true and fair view of the state of the charitable companls affairs as at 31 August 2025 anLI of Its incoming resources 8nd 8pp1ic8tion of resources, including Ils Income and expenditure for the year then ended.. have been properfy prepared in accord8nce with Unite(l Kingdom Generally Accep18d Accounting practi￿., and have been prepared In accordance M4th the requlrements of the Companies Act 2006. fvi vtJTiilvii We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUK)) and applicable law. Our responsibiliti85 under those sl8ndards are further described in the Auditors, responsibilities for the audit of the financial statements section ol our report. We are independent of the charitable company in accordan￿ with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Finèncial Reporting Council's Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requir8m8nts. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concern In auditing the financial statements. we have concluded that the Trustees, use of the going concern basls of aceounting in the p￿paration of the financial statements is appropri8te. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individu8lly or collectively, may cast signrficant doubt on the charitable company's ability to continue as a going concem for a period of al least bmelve months from when the financial statements are aLJthorisÈd for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Page 16 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF THE PACE CENTRE LIMITED (CONTINUED) ¢)thcr Inf•mioti•n The other information comprises the information included in Ihe Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contain8d within the Annual Report. OLJr opinion on the fin8nci81 statements does not cover the other information and, except to the extent otherwise explicitly slated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is lo r8ad 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 otherwise appears to be materially mi55taled. 11 we identify such material inconsi51encies or apparent malerial missiatements, we are required to determine whether this gives rise to a material misstatement in the financial Statements themselves. If, based on the work we have perfomed, we conclude that the￿ Is a material m1sstate￿ent of this oth8r information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are Trqulred to report by exceptlon We have nothing to report in respect of the following rratters where the Charities (Accounts and Reports) Regulations 9008 raquiros UÉ to raport to you if, in our opinion. the information given in the Trustees, Report is incAJnsistenl in any material respect with the financial stsIEments', or sufficient accounting records have not been kept.. or the financial statements are not in agreement with the accounting records and returns. or we have not rèceived all the information and explanations we reqL+ire for our audit. Responsibilities of truslees As expl8ined more fully in the Trusletss, RespDnsibililies Statement. the Trustees (who are also the dir8clors of the charitable company for the purposes of company lawl are responsible for the preparatitsn of the financial statetnents and for being sat15fied that they give a true and fair view, and for 5uGh internal control as the Trustees determine is necessary to enable the preparation of financial statements thal are free from material misstatement, whèther due to fraud or error. In preparing tho finanryal stalemenls, the Tru518£5 are responsible for a55essing the charitable company's bility to continue as a going concem. disdosing, a5 8ppli¢8ble. matters related to going concern and using the going ooneern basis ol accounting unless the Trustees either intsnd lo liquidate the charitable company or to cease operations. or have no realistic 3lternative bul lo do so. Pag8 17 THE PACE CENTRE LIMITED (A Company Llmited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF THE PACE CENTRE LIMITED (CONTINUEDI Audltors, responslbllltles for the audlt of the flnanclal statements OUT obje¢tlves are to obtaln reasonable assurance about whether the flnancial statements as a whole are free from rnaterial misstat8menl, whether ¢Jue to fraud or error, and lo issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee that an audit conducted in accordance with ISA5 {UKI will always detect a tllaterial misstatetnenl when it exists. Mi5Stalements carl arise trom fraud or error ond are considered m8terial if, illdiwdually or in the aggreg8te, they could re3$on8bly be expected lo influence the ec4)nomic decisions of users taken on the basis of these financial statements. A further description of responsibilill&s for the aLJdlt of thè financial statements Is located on the Finandal Reporting Council's w8bsite at.. www.frc.org.uklauditorsr8sponsibilities. This d8scription forms part of Audilor5' Report. Extenl to which the audit was CAJnsifered capable of detscting irregularities, including fr8ud Irregularilies, including fraud, are instances of non-compliance wth laws and regulations. We design procedures in line with our responsibilites, outlined above, to detect material misslatemenls in r4Èpact of irr8gul2riti$$, in¢luding fraud. Tho $xt•nl to whi¢h our proe8dur88 aro eapablè of dgtgcting irregularilie5, including fraud is detailed below.. W* oblaln and upd8t8 our understanding of th9 entity, its aclivsues, its control environment, and likely future developments, including in relation lo the legal and regulatory framework applicable and how the entity is cornplying with that framework. Based on this understanding, we identify and assess the risks ol material misstatemenl ol the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain 8udit evidence that is sufficient and appropriate to provide a basis for our opillion. This includes consideration of the risk of acls by the entity that were contrary lo applicable laws and regulations. including fraud. In response to the risk of irr8gulariti85 and non-complianc8 With laws and regulatians, including fraud, we designed proTrdures which included.. Enquiry of management and those charged with governance around actual and potential liligalion and claims as well as actual, suspected and alleged fraud., Reviewing minutes of meetings of those charged with governance., Assessing the extent ol Complian￿ wrth the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection., Reviewng financial statement disclosuTes and testing to 5UPPOrting docutnenlation to asses5 cornpliance with applicable laws and ￿YLlIatIOnS. Performing audit work over the risk of manzgement bias and override of controls. including testing of joumal entries and other adjustrnents for appropriateness, evaluèting the business rationale of significant tmnsactions outside the nornial course of business and reviewing accounting estimates for indicators of potential bias. BeGause of the inherent limitstions of an audit, there is a risk that we will not d8lect all I￿egula￿ties, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions raflèeted in the financial statÈmenls, as wè will ba less likely to bècomè aware of instancés of non-compliancè. The risk of not detectillg a m8terial misstatement r8sulting from fr8ud is higher than for one resulting from error. as fraud may involv8 collusion, forgery, intentional omission5, misrepresentations, or the override of intemal control. Page 18 THE PACE CENTRE LIMITED IA Company Limited by Guarantee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE PACE CENTRE LIMITED CONTINUED} Uae of our report This report is rnade solely lo the charitable company's members, as a body, in a¢cordance with Part 4 of the Charities (Accounts and RepLlrtsl Regulations 2008. Our audit work has been undertaken so that we mighl state to the charitsble wmpanls member5 those matters we are reqUI￿d to state to them in an Auditors, Report and for no other purpose. To the fullest extent pemitted by law. we dts not ac￿pt or assutlle responsibility lo anyone other than the charitable company and ils members. as a body, for audit work, for this report or for the opinions we have lormed. Paul Creasey (Senior Statutory Auditor) For and on behalf of Azets Audil Services Suites B & D Burnham Yard Bea￿ll$fIeld BuckinghamshSre Hpg 2JH Dale: 21 May 2026 Azets Audit SeTri¢es are eligible lo act as audilors in terms of section 1212 01 the Companies Act 2006. Page 19 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 AUGUST 2025 Restricted Unrestricted funds lunds 2025 2025 Total funds 2025 Total fvnds 2024 Note Income from: Donations and leg8cies Chantable activities Other trading actriities Investm8nts 260,503 389,260 3,250,154 42,462 42,536 649,763 3,250,154 42.462 42.536 725,523 2,688,996 66,622 27.136 Total in¢ome 260,503 3,724,412 3,984,915 3,508,277 Expenditure on: Raising lunds Charitable aclwilies 203,011 3,495,268 203,011 3,781,395 233,648 3,525,422 286,127 Total expendlture 286,127 3,698,279 3.984,406 3, 759,070 Net gains on investments 1,143 1,143 560 Net movement in funds {25,624} 27,276 1,652 1250,233) Re¢oA¢lllatlon of funds.. Total fund5 brought forward Net novemenl in funds 1,898,743 25,6241 1,168,823 27,276 3,067,566 1,652 3,317, 799 (250,233) Total funds earrlèd forward 1,873.119 1.196,099 3,069,218 3,067.566 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 24 to 42 form part of these financial 5talemenls. Page 20 THE PACE CENTRE LIMITED IA Cornpany Limited by Guarantee) REGISTERED NUMBER.. 02707807 BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixed assets Tangible assets 13 1.761,953 1,863.241 1.761,953 1,863,241 Current assets Debtors 14 15 789,843 565.590 883.411 645.294 348,665 626,758 Investments Cash al bank and in hand 2,238,844 Y,620,717 Credltors.. amounts falling due within one year 16 {931,5791 [416,392) Net current assets 1,307,265 1,204,325 Total assets less current Ilabllltlas 3,069.218 3.067,566 Total n¢t as5Éts 3,069,218 3.067.566 Charity funds Restrict8d funds Unrestrictsd funds 18 18 1,873,119 I,IY6,099 1,898,743 1,168,823 Total funds 3,069.218 3,067,566 The Trustees acknowledge their responsibilities for complying with the requirements of the Act wth respect to aC￿unting recx)rds and preparation of financial ststements. The financial statements have been prepared in aowrdance wlh the provision5 8pplir2ble lo entities subject to the small companies regime. Page21 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) REGISTERED NUMBER: 02707807 BALANCE SHEET ICONTINUEt>) AS AT 31 AUGUST 2025 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr Colin Hayileld The notes on pages 24 to 42 fom) part of these financial statements. Page 22 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Cash flows from operatlng activities Net cash used in operating activities (see note 211 431,042 (1,084,390) Cash flows from Investing adlvltles Interest received Movement on inveslm8nts 42,536 1216,925} 4,639 552,822 Net cash (used In}Iprovided by investing actlvlties 1174,3B9} S57.461 Change in cash and cash equivalents In the year C8sh and cash equivalents at the beginning of the year 256,fj53 1526,9291 1, 153,687 626,758 Cafjh and Gash equlv•lents at the end of the year 883,411 626, 758 The notes on pages 24 to 42 fom pari of Ih85e finanGial statements Page 23 THE PACE CENTRE LIMITED IA Cornpany Limlted by Guarantee) IOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Genoral tnformatio The Pace Centre Limited is a charitable company limited by guarantee incorporated in England and Wales within the United Kingdom. The Compènls registered office is Bradbury Campus, 156 Wendover Road, A￿esbUry, euckinghamshire, HP22 STE. The financial statements are presented in sterling which is Ihe functional currency of the Company and rounded to the ne3rest £. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consisteritly applied to all years presented unless othe￿iSe staled. Accounting policies 2.1 BasÉs ol preparataon of financial statements The financial staternents have been prepared in accordance with the Charities SORP IFRS 102}- Accounting and Reporting by Charities". Statement of Recommended practi￿ applicable to charities prgpallng Ih4Trir accL)unts in aceord>nc• with th¢ Financial R*porting Sland*rd applieabl* in th• UK and Republic of Ireland IFRS 1021 (effective l January 20191, the Financial Reporting Standard 8ppli¢able in the UK and Republi¢ of Ireland IFRS 1021 knd the Companies Atl 2006. The Pace Centre Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are ini11811y recognised at historical c05t or transaction valLJe unless otherwise stated in the relevant accr)unting policy. 2.2 Golng concérn The financial statements have been prepared on a going concem basis. The Trustees have consldered the level of funds held and the expected level of income and expendilure for 12 months frorn the date of appioval of th858 fin8nci81 st?tementg. Ca$hfk>w 1$ monitored by management and reviewed by the trustees on a regular basis. Page 24 THE PACE CENTRE LIMrrED IA Company Limited by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poli¢i95 Icontjnuedl 2.3 Income l income is recognised once the Company has enlilktnent to ihe incAJme, il 15 probable that the income wlll be re￿iVed and the amount of income receivable can be measured reliably. Grants are included in the Staletnenl ol Financial Acliviligs on a receriable basis. The balance of income r8C8iv8d for specific purposes but not expended during the period is shown in the relevant funds on the Balanoe Sheet. Where income is received in advance of enlillement of receipt, ils recognition is deferred and included in creditors as deferred income. Where entrtlement occurs before income is received, the income is accrued. Income tsx recoverable in relation lo investment income is recognised at the time the investment income is receivable. Income from Charilable Aclivilies is measured at the fair value of the consideration received or receivable for services rendered, and is recognlsed as the services are delive￿d. Donated professional services and donated facilities are recognised as income when Ihs Charlty wiiliul vv¥i Ili¥ iteiii, aiiy condition5 a550Giatad with the donated item havc bccn mcl. thc receipt of the economic benefit from the Ljse by the Chanty of the item is probable and that economic benefit can be measured reliably. In 8ccx)rdance with the Charities SORP IFRS1021. the value of general volunteer tirn8 15 not recognised although the Trustees, annual report sets out more information about thèir contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the grft to the Charity which 18 the amount the Charity would have been willing to pay lo obtain service5 or f8¢ililies ol equivalent eCono￿le benefit on the open tn8rket', a corresponding amount is then recognised in expenditure in the period of receipt. For donalions to be recognised the Charity will have been notified of the amounts and the settlement date in writing. If theTe 3re conditions altached lo the donation and this r8quir8s 8 level of performance belore enlillemenl can be obiained, then income is defetrred unlil Ihose conditions are fully met or the fulfilmenl ol those conditions is wllhin the control of the Charity and it is probable that they will be fvlfilled. As provided in the SORP IFRS1021 no amount Is included in the financlal ststements for volunteer time. Investment income is earned through holding assets for investment purposes such as on short tém) bank deposit and solely ccimprises bank inleiest. Page 25 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 AGGQUlltlng pollGles (Gontlnued} 2.4 Expenditure All expendIt￿re is ac¢ount8d far on an awruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments lo third partie5, It is probable that the settlement wll be reqLJired and the grnount of the obligation c8n be ffleasured reliably. It is categorised under the lollowing headings.. Costs of raising funds includes the costs aSSOCl8ted with the Fundraising teaTn, including payroll for the members of that team and the dired costs of fundraising events. Expenditure or¥ charitable activit18s includes the cost of clinic312nd teaching staff together with the costs of providing the educational and therapeutic interventions. Other expenclrture represents those iteFns not falling into the categories above. Support costs allocation Support C05tS are those that 8ssisf the work of the Charity but do not directly represent charitable sctivitigs and includg officé cogtg. govgrnanco cogtg 2nd 2dminigtr2tivo payroll cogtg. Thay 2r incurred directly ill support af expenditure on the objects ol the Charity and include strategy development. Where support o)sts cannot be directly attributed to particular headings they have been allocated tts C05t of raising funds and expeftditure on charitable activities on a basis consistent with use of the resources. General overheads have been allocated on a staff pro rata basis. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Expenditure is recognised once there is a legal or conslruclNe 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 obligalion can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total L¥f direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single aclNily a￿ allocated d1￿ctlY to that activity. Shared costs which contribute to more than one activity and support costs whiGh are not attribu18ble to a single activity are apportioned betwesn those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of I'me spent, and depreciation charges allocated on the portion of the asset's use. Expendtture on raising fvnds indudes 811 expenditure incurred by the Company to raise funds for its charitable purposes and includes ¢osis of all fundraisino activities events and non-eharitabl trading. Expenditure on charitable activities is incurred on directly undertaklng the activllies which ftjrther the Companls objectives, as well as any associated support costs. All expenditur8 is inclusive of irrecoverab18 VAT. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Page 26 THE PACE CENTRE LIMITED IA Gompany Limited by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A¢counting policies l¢ontlnuedl 2.5 Interest reeelvable Interest on funds held on deposlt Is included when recelvable and the amount can be measured reliably by the Company,. this 15 norEna11y upon notification of the interest paid or payable by the nstitution wlh whom the funds are deposited. 2.6 Tangible fixed assets and depreciation Tangible fixed assets are initially iecognised at cost. After recognition, under the cost model, tangible fixed 855ets are measured at cDst less accumula18d dep￿￿ation and any ac£umulaled Impairment losses. All costs IncU￿ed to bring a tangible fixed asset into its intended working condib'on should be included in the measurement of cost. Deprecialion is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on th8 following bases.. Fi¥¥liuld yiuyrily Fixtures and fittings Office equipment Computer equipment 2￿ to ts2 year¥ straight line 3 10 10 years straight line 3 10 10 y88rs straight line 3 to 10 years straight line Assets costing over £S.000 are capitalised at C051. Assets costing over £2,000 are capitalised al cost at the dis¢retion of the Chief Executive. 2.7 Dobtors Trade and other debtors are racognised at the settlement amount after any trade discount offered. Piepayments are valued at the amounl prepaid net of any trade diswunts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition Or opening ol the depos(s or similar 8ccount. 2ts Liabilities and provisians Liabilities 8re recognised when there 15 an obligation at the Balance Sheet dale as 8 result of a past event, it is probable that a transfer of economic benefit will be required in settlement. and the amount ol the settlement ran be estimated reliably. Liabilities are recognised at the amount that the Company 8ntieipates it will pay to settle the debt or the amount it has feGeived as advanced payments for the goods or seNices it must provide. Provisions are measure(J at the best eslirnate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value ol those amounts. discounted at the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recognlsed In the Statemeni of Financial Activities as a finance cost. Page 27 THE PACE CENTRE LIMITED IA Company Limited by Guaranteo) MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 AGGouritlng pollGles (contlnuetll 2.10 Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instnjments are initialty recognised at transaction value and subsequently tne3sured at their settlefflent value with the exception of bank loans which arè subsequentty me8sured 818mort15ed c05t using the effeclwe interest method. 2.11 Leases Rentals payabl8 2nd receivab18 under operating leases are charged lo the slalement of financial activf(ies on a straight line basis over the period of the lease. 2.12 Tax The Charity is an exempt Charity within the meaning of schedule 3 01 the Charities Act 2011 and is considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore il Meets the definition of a charitable company for UK Corporation tax purposes. 2.13 Employee benefits When employees have rendered semce to the Charity, sh()rt-term empfr)yee benefits to which the ernployees 8re entitled 8re recognised al the undiscounted amount expected to be paid in exchange for that service. The Charity operate5 a defined contribution plan for th8 benefit of its employees. Contr¥butions are expensed as they becorne payable. 2.14 Penslons The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company lo the fund in respect of the year. 2.15 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in fLJrtherance of the gener81 objectives of the Charlty and whlch h8ve not been deslgn8ted for other purposes. Restricted funds are funds which are to be used in accordan￿ with speafic restrictions imposed by donors or which have been raised by the Company for particular purposes. The cosis ol raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financièr statements. Investment income, gains and losses are allocated lo the appropriate fund. Page 28 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from donation5 and l?gacies R8stricted Unrestrlcted funds funds 2025 202S Total funds 2025 Donations 69.200 191.303 207,487 181,773 276,687 373,076 Grants 260.503 389,260 649,763 Reslricted UnrestriGt&d funds funds 2024 2024 rolal runds 2024 Do*i?tions q1n. 7t%.5 354,431 .91)4.68.5 420,838 Grants 66.407 260,327 465, 196 725,523 Incom¢ Irom charitable activities Unr•strlcted funds 2025 Total funds 2025 LEA Funding Other Therapy sessions provided to children 0-18 Tralning Provision of staff lo other schools Non LEA funding of school places 2,526,961 371 130,701 433 464,980 126,708 2,526,961 371 130,701 433 464,980 126,708 3,250,154 3,250,154 Page 29 THE PACE CENTRE LIMITED IA Company Llmitad by Guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Income from ¢haritabl¢ a¢tiviti¢- l¢•nttnu¢dl Unrestridéd funds 2024 Totsl funds 2024 LEA funding Other Non LEA funding cif school places Ther8py sessions provided to children O-18 Provision of staff to other schools Non LEA funding of school places 1,990.364 1,317 66,506 1,759 479,748 149,302 7,990,364 1,317 66,506 1,759 479,748 149,302 2,688,996 2.688,996 Income from olher trading activitie5 Incomo from fundralslng •v&nts Unrestrlcted funds 2025 Total furtds 2025 Community fundraising Events 32,731 9,731 32.731 9.731 42,462 42,462 Unrestricted funds 2024 Total funds 2024 Cornrnunity fundraising Events 42, 159 24,463 42,159 24,463 66.522 66,622 Page 30 THE PACE CENTRE LIMITED IA Company Limit#d by Guarante81 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Investment incom¢ Unrestricted funds 2025 Tota funds 2025 Investment income 42,536 42,536 Unr&stricted funds 2024 Total funds 2024 Investment income 27. 136 27, 136 Page 31 THE PACE CENTRE LIMITED IA Company Limited by Guarant8è1 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 Expenditure on raieing fund- Costs of raising voluntary Income Unrestricted funds 2025 Total funds 2025 Event & function costs Suport costs Salaries and consuliancy including training 24,170 6,989 171,852 24,170 6,989 171,852 203,011 203.011 Thg support costs for 2025 ar8 made up of salart8s of £35,707, which is included in the $8larle$ and consuiiancy Including iraining iigure aoove. an(J iacillties ano ou)er cosis oi £ti,yt5Y. Unrestricted funds 2024 Total fu￿￿$ 2024 Event & fvnction costs Support costs Salaries and consultancy including training 38,847 7,525 187,282 38,841 7,525 187,282 233,648 233,648 The support costs for 2024 are m8d8 up of salarieg of £32,081. which is inclLJded in the sal8ries and consultancy including training figure abovg, and facilities and other costs of £7,525. Page 32 THE PACE CENTRE LIMITED IA Gompany Limited by Guarantèè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 AnJlys15 of axpenditure on charltsble activities Summary by fund type Rgstrrcted Unrestricled funds funds 2025 2025 Total 2025 sara￿e5 and consultancy including training Facilities and other costs Classroom resources 179.049 6,525 10,527 90,026 2,790,393 416,297 160,779 11,962 115,837 2.969,442 422,822 171.306 101,988 115,837 Depreciation Govemance costs 286,127 3,495,268 3,781,395 Resthcled Unrestricted funds hjnds 2Q24 2024 Total 2024 Saparies and consultancy including tralning Facilities and other costs Clas5rwm resources Oepreciation Governance costs 231,873 11,058 43,915 91.455 2,594,224 38J, 768 122,699 12,131 28,299 2.626,097 400,826 166,614 103,586 28,299 378,301 3, 147,121 3,525,422 Page 33 THE PACE CENTRE LIMITED IA Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 A*alyslÈ of •xpènditurB by activttleB Activitles undertaken directly 2025 Support osts 2025 Total funds 2025 Salaries and consultancy includlng tralnSng Facilities Classroom resources Depreclatlon Govemance 2,326,378 32,156 126,588 101,988 643,064 390,666 44,718 2,969,442 422,822 171,306 101,988 115,837 115,837 2,587.110 1,194.285 3,781,395 Activities undèrt8ken direGIIy 2024 Support Gosls 2024 Total funds 2024 Salaries and consultancy including training Facilities and other costs Classroom resources 2.068,803 256,25t 166,614 103,586 75T,294 144,575 2,626,Q97 400,826 166.614 103.586 28,299 Depreciation Governance 28,299 2,595,254 930, 168 3.525.422 10. Auditors. remuneration 2025 2024 Auditorfs renumeration 13,$00 12.300 Page 34 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 34 AUGUST 2025 Staff costs 2025 2024 Wages and salaries Social security costs Contribijtion to defined contribution pension schemes Other employee benefits 2,702,064 270,831 116,970 27,451 2,584,896 214,469 125, 773 3,117,316 2,925, 138 The average number of persons employed by the Company during the yearwas as follows.. 2025 2024 No. Raising funds Charltablo activiti8B Govemarice and support 98 21 113 109 The number of employe6s whose employee benefits (excluding ernployer pension costs} exceeded £60,000 was.. 2025 No. 2024 Alo. In the band £60,001 - £70,00 The staff costs for key management personnel in the year was £238,44212024: £232,525). 12. Trustees. r&muneration and expenses During the year. no Trustees received any remuneration or other benefits (2024- £NIL). During the year ended 31 August 2025. no Trustee expenses have been incurred f2024- £NIL). Page 35 THE PACE CENTRE LIM￿ED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Tangible fixed aBBetB Freehold Flxtures and property fittings Offrc¢ equipment Computer equipment Total Cost or valuatlon At 1 September 2024 Additions 3,323,788 21,S16 21,720 78,803 700 3.445,827 700 At 31 Atjgust 2025 3,323,788 21,516 21,720 79,503 3,446,527 Depreciation At 1 Septernber 2024 Charge for the year 1,511,693 87,675 4,302 2,152 12,288 2,952 54.303 9,209 1,582.586 101.988 At 31 August 2025 1,599,368 6,454 15,240 63,512 1,684.574 Net book value At 31 August 2025 1,724,420 15,062 6,480 15,991 1,761.953 At 31 August 2024 1,812,095 17,214 9,432 24,500 1,863,241 14. Debtors 2025 2024 Oue within one year Trade debtors Other debtors Prepayments and accrued ineome 669,770 537 360,234 678 284.382 119.536 789,843 645,294 Page 36 THE PACE CENTRE LIMITED IA Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 15. Current asset invoslments 2025 2024 Short term depDSIts Other investments 565.590 333.955 14,710 565.590 348,665 16. Creditors.. Amounts falling due within on? y¢ar 2025 2024 Tr8de creditors Other taxation and social security Other creditors Accnjals and deferred income 43,499 62,875 17,801 807,404 22, 765 49,865 17,120 326,642 931,579 416,392 In 2016, 8 generous benefactor pledged an Interest free loan of up lo £1,000.000 to be available for at least three years, since exlended so that the facility is available until 31st August 2024. By 31 Augusl 2023, £500,000 of this loan had been drawn down, Since belng drawn down, £500,000 hos been converted lo a donation leaving none outstanding at 31 Auousl 2025 12024."nill. There remains 8n undrawn loan facility 01 £500,OOC>. The loan remains under ieview annualty. The loan laGility has now been extended to August 2026. 17. Accfual$ and deferred income 2025 2024 Defer¥ed income at 1 September 2024 Resources deferred dLJring the year Amounts released from previous periods 307,790 741,896 {307,790) 725, 122 307, 790 (725, 122) Dèferred income at 31 August 2025 741,896 307, 790 All deferred income, which represents term fees Invoiced in advance, is included within Creditors'.amounts falling due within one year. Page 37 THE PACE CENTRE LIMITED IA Company Limited by Guarante8} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 202S 18. Stat¢meMt <*f futtds Statèment of funds - current year Balance at 1 September 2024 Balance at Galnsl 31 August {Lossesl 2025 Incorne Expendllure Unrestricted funds General Funds- all funds 1,168,823 3,724,412 13,698,279) 1,143 1,196.099 Restrlcted funds Leasehold Building fund First Steps Appeal fund Salary fund Other equipment and services 26,342 1,720,385 55,307 14,112) 176,851) 1179,0491 22,230 1,643,534 125.761 249,503 fund 96,709 11,000 126,1151 81.594 1,898,743 260,503 1286,1271 1.873,119 Total of funds 3,067,566 3.984,915 (3,984,406} 1.143 3.069.218 Page 38 THE PACE CENTRE LIMITED IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2025 18. Statemenl ol funds Icontinuedl Statement of funds- prlor year Balance al I Seplembei 2023 Balance al 31 Augusl 2024 Gainsi Income Expendilure {Loss8sJ Unrestrlcted funds General fund 1,301.052 3,247,950 {3,380,769J 560 1,168,823 Restrictsd funds Leasehold Building fund Firsl Steps Appeal fund Salary fund ()thg.r Aqijipment 2nd servic£s fund 30,454 1, 797,236 61,709 (4, 112) (76,851J (216,650) 26,342 1, 720,385 55,3Q7 210,248 127.318 50,079 (80,688) 96, 709 2,016,717 260.327 (378,301) 1.898, 743 Totsl olfunds 3.317, 799 3,508.277 (3,759,070) 560 3.06T,566 The Leasehold Building fund was sel LJP in 1996 to record Ihe cost of the new development of the Coveriton Road site against donations received for that purpose. The total fund at 31 August 2025 represents the depreciated historical cost of the building and subseqLJent extensions. The original building and irnprovements are carried out under licence granted by the freeholder. The land at Coventon Road is leasehold. The First Steps App881 fund exists to provide resources to develop Éhe Bradbury Campus at Wendover Road as a new Early Years Centre and Independence Training Centre. The funds ar8 b8ing r81eased as the improvements are depreciated. The total fund at 31 August 2025 is the nel depreciated amount. The Salary fund Tepresents various donations to fund salaries in school and child and family during the year. The Other equipment and services fund comprises various donations to fund the purchase of leaching aids and equipment and other services SLJch as school holidays, visits. consultancy and training and our new minibus. The fund. summarised above, contsins the donation8 of many individuals. trusts and organisations. Page 39 THE PACE CENTRE LIM￿ED IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Summary ¢*f *und$ Summary of funds- current year Balance at 1 September 2024 Balance at Gainsl 31 August ILossfrsl 2025 Incomè Expendltura General funds Restricted funds 1,168,B23 1,898,743 3,724,412 13,698.2791 260,503 1286.127) 1,143 1,196,099 1,873,119 3,067.S66 3.984,915 {3.984.4061 1.143 3,069,218 Svmmary of funds - prior year Balance al 1 S6Pt$mb8f 2023 Balance al 31 Augusl ZOZ4 Gain (Losses) Income ExpenLYiiure Gener81 funds 1,301,082 2,016, 717 3,247,950 (3,580,769) 260,327 (378,301J 560 1, 168,823 1,898,743 Restricted funds 3,317,799 3,5Q8,277 f3,759,070J 560 3,067,566 20. Analys1$ of net assets between funds Analysls of net assets betweèn funds - current year Restricted Unrestricted funds funds 2025 2025 Total funds 2025 T8ngible fixed assets Current assets Creditors due within one year 1,681,269 191.850 80,684 1,761,953 2,046,994 2,238,844 1931,5791 {931,579) Total 1,873,119 1,196,099 3.069,218 PBge 40 THE PACE CENTRE LIMrrED IA Company Limited by Guaranlèèl NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. Analysis of net assets he￿&&n funds {continuedl Analysls of net assets between funds - prlor year Restrict&é Unreslri¢led lunds funds 2024 2024 Total funds 2024 Tangible fixed as5els Current assets Credilors due within one y88r 1.771,294 127,449 91,947 1.493,268 (416,392) 1,863,241 1,620, 77 7 (476,392) Total 1,898, 743 1, 168,823 3,067,566 21. R¢conclllallon of net movement In funds to net cash flow from operating actlvltles 2025 Net incomelexp8nditure for the year las per Slatsmenl ol FinancHI Activili851 1.652 (250,233J Adjuslments for: Depreciation charges Loss on the sale of fixed assets Increase in debtors IncreaselldeGre8sÈ) in credilors Interest receivable Purchase of fixed assets 101.988 lQ3.515 68 (424,415} (486. 189) (27, 136) {144,5491 515.187 142,5361 17001 N¢t cash provided byllused inl operating activities 431,042 (1.084,390) Analysis of ¢a$h and cash equivalgnts 2025 2024 Cash in hand Short term deposits 430,414 452,997 486,414 140,344 Total eash and cash equlvalents B83,411 626, 758 Page41 THE PACE CENTRE LIMITED IA Company Llmlt8d by Guarantaa) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 AUGUST 2025 23. Analysls of ehang•8 in nèt d•l>t At1 September 2024 Cash flows At31 August 2025 Cash al bank and in hand 626,758 348,665 256,653 216,925 883.411 565.590 Liquid investments 975,423 473,578 1,449.001 2& Penslon ¢ommltments The Charity operales a defined contribulions scheme. The assets of the scheme are held separatety from those ol the Charity in an independently administered fund. The pension cost charqe represents the contributions payable by the Charity to the fund and amounted to £116.970 12024.. £125,773). Contributions totalling £16,45212024". £15,568) were payable to the fund al the balance sheet date and are included in creditors. 25. Operating lease ¢ommitmenls At 31 August 2025 the Company had commitments to make fvlure minimum lease payments under non- cancellable operating leases as follows.. 2025 2024 Not later than 1 year Later than 1 yeaT and not13ler than 5 years Later than S years 154,751 543,249 3,208,464 159,580 555,26? 3,459,204 3,906,464 4, 132,045 26. Members. Ilablllty In accordan￿ with ¢laus8 6 of the Company's memor8ndum of As50cialion, every member of the Company undertakes to contribute to the assets of the Company in the event of the same being wound up during the time that they are a member, or within one year afterwards for payments of debts and liabilities of the Company contracted before the time al which they ￿ased lo be a member. and of the costs, charges and expenses of winding up the same, and for the adjusttnent tsf the rights of tha contributories, such amount 98 m8yb8 required not exceeding one pound. Page 42