**REGISTERED CHARITY NUMBER: 1041474** **THE AXIS EDUCATIONAL TRUST TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED** **31 AUGUST 2025** ## **THE AXIS EDUCATIONAL TRUST** |**Contents**|**Page**| |---|---| |Legal and administrative information|2| |Trustees’ Report|3 - 20| |Accountant’s Report|21| |Statement of Financial Activities|22| |Balance Sheet|23| |Cash flow Statement|24| |Notes to the Financial Statements|25 – 33| 1 ## **THE AXIS EDUCATIONAL TRUST** ## **Legal and administrative information** ## **Trustees** X TRUSTEE WITH A DISPENSATION ## **Charity Number: 1041474** ## **Office address** 16-17 Grand Arcade, Industrial House Second Floor, London, N12 0EH ## **Accountants** AA ACCOUNTANCY SERVICES 244 Chase Road London N14 6HH ## **Bankers** HSBC Bank plc PO Box 1311 The Town Enfield Middlesex EN2 6LD ## **Solicitors** Russell Wise Solicitors 2 ## **TRUSTEES’ ANNUAL REPORT** **For the period 1 September 2024 to 31 August 2025** **1** Welcome from the Chair ## Introduction to the Board of Trustees Report Our Vision and Objectives 2024-2025 at a Glance Axis Tuition Centres Supplementary Education & Wellbeing Holiday and Activity Programm Skill Up and Employability Partnerships and Community Engagement Financial Review and Reserve Risk Management Looking Ahead **2** **3** **4** **5-6** **7-8** **9-10** **11-12** **13-14** **15** **16** Trustees’ Responsibility Statement ## **Welcome from the Chair** On behalf of the Board of Trustees, I am pleased to present the Trustees’ Annual Report of Axis Educational Trust for the financial year ended 31 August 2025. This has been a landmark year in the story of Axis. We celebrated 30 years of service through our Anniversary Gala and Talent Contest, bringing together students, parents, staff, volunteers, civic leaders and partner organisations to recognise the achievements of our community and the young people we support. The event reflected not only our history but also our ambition for the next stage of growth. During the year, trustees completed the acquisition of the Henry Road building in East Barnet. This major strategic step will support our long-term plan to create a permanent Youth Centre offering education, mentoring, wellbeing, employability and community activities under one roof. The building will strengthen our sustainability, increase our reach and provide a safe, inclusive base for children, young people and families. Our work in 2024–2025 continued across tuition centres, supplementary education and wellbeing projects, holiday activity programmes and employability projects in Barnet, Enfield and Kent. We are grateful to our funders, partners, staff, volunteers and families for their continued trust and contribution. Warm regards, Hakan Gokce Chair of the Board of Trustees PAGE 1 ## **Introduction to the Trustee Report** ## **FOR THE PERIOD ENDED 31 AUGUST 2025** The trustees present their annual report together with the financial statements of the charity for the year ended 31 August 2025. The report has been prepared for submission alongside the charity’s accounts and should be read together with the final signed financial statements. The trustees have considered the Charity Commission’s guidance on public benefit, including public benefit in relation to advancing education and fee-charging. The charity’s activities are designed to provide public benefit through accessible education, youth development, wellbeing support, community cohesion and employability pathways for children, young people and families, particularly those facing social or economic disadvantage. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** |**Area**|**2024–2025 narrative / evidence**| |---|---| |**Constitution**|Axis Educational Trust is constituted under a trust deed dated
11 July 1994, as amended on 15 January 2021, and is a registered
charity in England and Wales, charity number 1041474.| |**Principal objective**|The principal objective of the Trust is to advance the education
of students in the UK, with a particular focus on widening
opportunities for children, young people and families from
disadvantaged backgrounds.| |**Appointment of**
**trustees**|The management of the charity is the responsibility of trustees
who are elected and co-opted in accordance with the
governing document.| |**Board meetings**|Trustees met regularly during the year to monitor strategy,
finance, risk, major assets, tuition-centre performance, project
delivery and governance compliance.| |**Officer**
**appointments**|The trustees confirmed board officer roles during the year:
Chair, Secretary and Treasurer, with responsibilities allocated
to support governance and operational oversight.| |**Trustee training**|Trustees reviewed safeguarding, charity governance, financial
oversight and risk management training requirements and
agreed to maintain training certificates in a shared
compliance folder.
| PAGE 2 ## **Our Vision and Objectives** To become a key player in creating education opportunities and life chances for children, young people and families of disadvantaged backgrounds Our vision will be realised through the delivery of key objectives below as commitments to the local community as described in the Memorandum of Association PAGE 3 ## **2024-2025 at a Glance** **4** **1** **30th** **292** Tuition provisions reviewed: Ponders Learners recorded End, Hendon, North in Tuition Centres Finchley and KPI review Online Henry Road Anniversary Gala building acquired and Talent Contest for Youth Centre celebrated development **232 3** **87** **232 3 8** Skill Up/Youth Hub Employability Sports, holiday participant project areas: Kent, and arts welbeing touchpoints Barnet and Enfield projects Eligible young people progressed to positive next steps |**Major Event**|**Description**| |---|---| |**30th**
**Anniversary**
**Gala and**
**Talent**
**Contest**|The event celebrated Axis Educational Trust’s 30-year
legacy. Trustees reviewed final preparations including
venue layout, catering, programme flow, awards, branding,
volunteer coordination, photography, media, safeguarding
and risk management. The event included VIP participation
and public recognition of young people’s social action and
community service. Young volunteers were involved in
planning and event delivery. The Gala provided a platform
to recognise strategic partners and strengthen civic
credibility with local voluntary-sector and community
partners.| |**Henry Road,**
**East Barnet**
**building**|Trustees completed the acquisition process for the Henry
Road building. The building is planned as a new Youth
Centre supporting tuition, mentoring, wellbeing, workshops,
media/podcasting, room hire and community activities.| PAGE 4 ## **Axis Tuition Centres** Supported through a mixed-income model including parental fees, bursaries, scholarships, tuition income and reinvestment of charitable funds. |**4**
Tuition provisions
reviewed|**87**
weekly Ponders End
learners recorded|**32**
weekly Online
learners recorded|**1**
Scholarship test
planned| |---|---|---|---| ## **Core activities** - Small-group tuition and personalised support in English, Maths, Science and exam preparation. - SATs, 11+, GCSE and wider Key Stage support delivered through evening, weekend and online provision. - ·Termly monitoring of enrolment, retention, income/cost balance, academic progress and parental communication. - Teacher recruitment, teacher training and mentoring pathways developed to strengthen quality and retention. - Scholarship and gifted-student pathway planned for Year 10 and Year 12 learners to promote aspiration and academic excellence. ## **Outcomes and impact** - Ponders End remained the strongest tuition provision, showing stable enrolment and sustainable performance. - Online tuition continued to provide a positive lower-overhead model and an opportunity for further digital growth. - North Finchley and Hendon were monitored closely due to management instability, cost pressures and low starting enrolments. - Families benefited from affordable tuition and integrated pastoral support, with mentoring embedded into academic provision. - The tuition-centre model generated unrestricted income while supporting the charity’s wider public-benefit objectives. PAGE 5 ## **Supplementary Education & Wellbeing** North Finchley project funded by John Lyon’s Charity; Ponders End project funded by BBC Children in Need. |**98**
North Finchley unique
participants|**32 hrs**
Weekly guided
lessons|**12 hrs**
Drop-in/self-
study support|**60**
Families
supported| |---|---|---|---| |**80%**
At least one-grade
improvement|**22**
Average sessions
per week|**8**
Average
attendance per
session|**70%**
Participants
from Barnet| ## **Core activities** - Supplementary education for children and young people needing additional support outside school. - Homework clubs, booster sessions, guided lessons and drop-in/self-study opportunities. - Support for low-income, ethnic minority, refugee, asylum-seeking and newly arrived families facing educational barriers. - Mentoring, resilience support and parent engagement to increase confidence, attendance and social integration. - Hybrid learning and digital resource support where access to laptops, Wi-Fi or learning tools was a barrier. ## **Outcomes and impact** - The North Finchley project grew from 58 to 98 young people, demonstrating increased community trust and demand. - Students benefited from 32 hours of weekly guided learning and 12 additional hours of self-study or drop-in support. - 80% of participants saw an increase of at least one grade, especially in GCSE Maths and English. - The Youth Hub reached 32 young people aged 14-21 through coding, digital design, leadership and career workshops. - Peer mentoring became a strong feature, with older students supporting younger learners academically and personally. - Parent engagement improved through discussions and workshops, helping families support children’s education and online safety. PAGE 7 *¥ ¥1* ## **Holiday and Activity Programmes** Active Minds in Barnet funded by John Lyon’s Charity; HAF programme funded by the Department for Education through local authority delivery arrangements; Community Sport funded by Sports England. |**3**
Programme
streams|**3**
Holiday cycles
supported|**60+**
Minutes of daily
physical activity|**1**
Healthy food
and enrichment| |---|---|---|---| ## **Core activities** - Holiday programmes offering sports, creative activities, learning support, wellbeing and supervised recreation. - HAF-style provision for children eligible for free school meals and families needing structured holiday support. - Healthy meals/snacks and nutrition messaging integrated into daily delivery. - Physical activity, team games and creative workshops used to improve confidence, health and social skills. - Safeguarding, risk assessment, allergy awareness and inclusive participation embedded in planning. ## **Outcomes and impact** - Children accessed safe, structured, stigma-free holiday provision during school breaks. - Families benefited from affordable or funded childcare-style support during high-pressure periods. - Participants developed social confidence, teamwork, creativity and healthy habits. - Holiday programmes supported wider prevention outcomes by keeping children engaged in positive activity. - The programme strengthened relationships with parents, schools, local authority networks and funders. PAGE 9 L T, WEAR ARSENAL 21 23 41 .¢ ## **Skill U p and Employability** Kent project funded by Colyer Fergusson Charitable Trust; Barnet Youth Hub funded by John Lyon’s Charity; Enfield Skill-Up funded by City Bridge Foundation. Additional learning and model evidence was drawn from the AbbVie-supported Enfield Skill-Up pilot. **232 98 49 84** Participant touchpoints Barnet Youth Hub Enfield Skill-Up Kent Skill-Up across Barnet, Enfield participants participants participants and Kent **136 36 130 18** Enfield academic Enfield employability Enfield coaching Work-experience sessions sessions sessions placements ## **Core activities** - Employability, career-readiness, mentoring, academic support and confidence-building sessions for young people. - CV writing, interview practice, workplace expectations, communication, teamwork, goal-setting and career counselling. - GCSE, Functional Skills and academic catch-up support for young people with disrupted education or language barriers. - Work-experience, volunteering and internship-style placements arranged through local employers, charities and community organisations. - Digital and creative skills workshops including coding, digital design, media and podcasting preparation. - Peer mentoring, social action and community service opportunities, including youth leadership at the 30th Anniversary Gala. ## **Outcomes and impact** - Across Barnet, Enfield and Kent, the Skill Up and Youth Hub model created 232 participant touchpoints in the reporting evidence now available. - In Barnet, the Youth Hub became a trusted space for learning, digital skills, leadership and career readiness, with 80% of participants developing new skills and 50% progressing to further education or employment. - In Enfield, 45 participants showed improvements; 35 progressed to education, 36 completed volunteering placements, and 6 secured employment, with 80% feeling more confident about the future. PAGE 11 41 ## **Partnerships and Community Engagement** Axis Educational Trust’s delivery model relies on strong partnerships with funders like JLC, BBC CIN, CBT, CFCT; voluntary-sector networks like YBF, London Youth and Enfield Voluntary Action; local authorities, schools, community organisations, employers and families. In 2024–2025, trustees continued to prioritise relationship-building and visibility as part of both community impact and long-term sustainability. ## **Financial Review and Reserves** The charity’s detailed financial performance for the year ended 31 August 2025 is set out in the accompanying financial statements. The trustees reviewed income streams, project funding, tuition income, asset financing, loan commitments, programme costs and operational sustainability during the year. |**Area**|**2024–2025 narrative / evidence**| |---|---| |**Income model**|The charity continued to operate a mixed-income model
combining tuition income, project grants, donations,
fundraising and partnership support.| |**Restricted funds**|Restricted grants were used for the purposes intended by
funders, including supplementary education, wellbeing,
holiday activities and employability projects.| |**Unrestricted**
**sustainability**|Trustees continued to monitor tuition-centre performance
and central management costs to maintain long-term
sustainability.| |**Major asset**
**development**|The acquisition of the Henry Road building was a strategic
investment intended to strengthen long-term service
delivery and create a permanent Youth Centre asset.| |**Reserves**|The trustees maintained a reserves policy designed to cover
core operating risks and ensure continuity of charitable
activities. Final reserve figures should be aligned to the
signed accounts.| PAGE 13 ,1 cjl ia, ent, respect, and empathy. YOU ARE ALL WINNERQ ## **Risk Management** |**Risk area**|**Mitigation / management response**| |---|---| |**Safeguarding**
**and welfare**|Safeguarding policies, staff checks, training, supervision, risk
assessments and reporting procedures remain central to all
children and youth activities.| |**Financial**
**sustainability**|Trustees reviewed centre-level profitability, funding diversity,
loan commitments, reserves and income generation
opportunities.| |**Premises and**
**asset risk**|Major property decisions, including Henry Road and future
property planning, were reviewed by trustees with attention to
funding, valuation, legal and operational implications.| |**Staffing and**
**quality**|Teacher recruitment, staff development, centre management
stability and internal training pathways were identified as
priorities for quality assurance.| |**Project delivery**
**and compliance**|Grant-funded programmes were monitored through outcomes,
attendance, reporting obligations and funder requirements.| ## **Looking Ahead** - Develop the Henry Road Youth Centre into a safe, inclusive space for education, mentoring, wellbeing, workshops, employability and community activity. - Improve termly reporting across tuition centres, including academic progress, retention, parent satisfaction, staff stability and centre-level financial performance. - Expand peer mentoring and volunteering pathways, including older students supporting younger learners. - Increase corporate and employer partnerships for work experience, sponsorship and youth employment pathways. - Continue to strengthen governance, safeguarding, trustee training and evidence-based impact reporting. PAGE 15 ## **Trustees’ Responsibility Statement** The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The trustees are responsible for keeping proper accounting records, safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the trustees and signed on their behalf: Chair of Trustees: Hakan Gokce Date: 06/06/2026 PAGE 16 ## **THE AXIS EDUCATIONAL TRUST** ## **INDEPENDENT EXAMINER'S REPORT TO TRUSTEES OF THE AXIS EDUCATIONAL TRUST** I report on the accounts of the charity for the year ended 31 August 2025 which are set out on pages 22 to 33 ## **Respective responsibilities of trustees and examiner** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Basis of independent examiner’s statement** My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: * the accounting records were not kept in accordance with section 130 of the Charities Act; or * the accounts did not accord with the accounting records; or * the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. AA ACCOUNTANCY SERVICES Chartered Certified Accountant 244 Chase Road, London, N14 6HH Date: 23 June 2026 21 ## **THE AXIS EDUCATIONAL TRUST STATEMENT OF FINANCIAL ACTIVITIES** ## **(Incorporating income and expenditure account) FOR THE YEAR ENDED 31 AUGUST 2025** |**Unristricted**
**Notes**
**Funds**
**INCOME AND EXPENDITURES**
**£**
**INCOMING RESOURCES**
Incoming resources from generated funds:
Voluntary income
2
65582
Activities for generating funds
3
-
Investment income
4
331378
Incoming resources from charitable activities
5
328070
Other incoming resources
6
24501
**TOTAL INCOMING RESOURCES**
749531
**RESOURCES EXPENDED**
charitable Activities
7
601843
Governance Costs
8
57183
Other resources expended
9
0
**TOTAL RESOURCES EXPENDED**
11
659026
**NET INCOMING/(OUTGOING) RESOURCES**
**before transfers**
**21**
90505
**Transfersbetween funds**
-
**NET MOVEMENT IN FUNDS FOR THE YEAR**
90505
**Total Funds at 1 September 2024**
2223093
Prior Year Adjustment (Note 20)
0
**Total Funds at 31 AUGUST 2025**
2313598
=====|**Restricted**
**Funds**
**£**
129550
-
-
-
-
129550
100826
4950
0
105776
23774
-
23774
-143
0
23631
=====|**2025**
**Total**
**£**
195,132
-
331378
328070
24501
879081
702669
62133
0
764802
114279
-
114279
2222950
0
2337229
=====|**2024**
**Total**
**£**
145,054
-
257400
231392
43624| |---|---|---|---| ||||677470| ||||522075
50969
0| ||||573044| ||||104426
-| ||||104426
2118524
0| ||||2222950
=====| The notes on pages 16 to 24 form part of these accounts. 22 ## **THE AXIS EDUCATIONAL TRUST** ## **BALANCE SHEET AS AT 31 AUGUST 2025** |**Notes**
**2025**
**₤**
15
37279
Programme related investments
**16**
4199996
4237275
Debtors
**17**
67400
Investments
61667
117739
246806
**18**
(244003)
2803
**19** (1902849)
2337229
**=====**
**21**
23631
**21**
2313598
2337229
**=====**
Unrestricted funds
**CREDITORS:**Amounts falling due
within one year
**Total assets less current liabilities**
**Net current assets / (liabilities)**
**CREDITORS:**Amounts falling due
more than one year
**FIXED ASSETS**
Tangible assets
**CURRENT ASSETS**
Cash at bank and in hand
Restricted funds
**CHARITY FUNDS**|**2024**
**₤**
35085
2886026| |---|---| ||2921111
33996
61667
137716| ||233379
(132555)| ||100824
(798985)| ||2222950
**=====**
-143
2223093| ||2222950
**=====**| The notes on pages 25 to 33 from part of these accounts. Approved by the Board of Trustees on 23 June 2026 and signed on its behalf by Hakan Gokce, Chairman Hakan Gokce Chairman 23 ## **THE AXIS EDUCATIONAL TRUST Statement of cash flows** ## **AS AT 31 AUGUST 2025** ||**Total**
**funds**|**Prior year**
**funds**|**Note**| |---|---|---|---| ||**£**|**£**|| |**Cash flows from operating activities:**|||| |**Net income/(expenses) for the reporting period**
**(asper the statement of financial activities)**|114279|104426|| |Adjustments for:|||| |Depreciation charges|3306|3306|| |(Gains)/losses on investments|0|0|| |Dividends,interest and rents from investments|0|0|| |Loss/(profit)on the sale of fixed assets|0|0|| |(Increase)/decrease in stocks|0|0|| |(Increase)/decrease in debtors|(33404)|(9596)|| |Increase/(decrease)in creditors|1215312|(79089)|| |**Net cashprovided by (used in) operating activities**|1299493|19047|| |**Cash flows from investing activities:**|||| |Dividends,interest and rents from investments|0|0|| |Proceeds from the sale of property, plant and
equipment|0|0|| |Purchase ofproperty, plant and equipment|(1319470)|(8631)|| |Proceeds from sale of investments|0|0|| |Purchase of investments|0|0|| |**Net cashprovided by (used in) investing activities**|(1319470)|(8631)|| |**Cash flows from financing activities:**|||| |Repayments of borrowing|0|0|| |Cash inflows from new borrowing|0|0|| |Receipt of endowment|0|0|| |**Net cashprovided by (used in) financing activities**|0|0|| ||||| |**Change in cash and cash equivalents in the**
**reporting period**|(19977)|10416|| |**Cash and cash equivalents at the beginning of the**
**reporting period**|137716|127300|(Table 1)| |**Change in cash and cash equivalents due to**
**exchange rate movements**|0|0|| |**Cash and cash equivalents at the end of the**
**reporting period**|117739|137716|(Table 1)| **Table 1: Analysis of cash and cash equivalents** ||Current
year|Prioryear| |---|---|---| ||£|£| |Cash in hand|117739|137716| |Notice deposits(less than 3 months)|0|0| |Overdraft facilityrepayable on demand|0|0| |**Total cash and cash equivalents**|117739|137716| **Table 2: Analysis of changes in net debt** ||At start of
year|Cashflows|Acquisition/
disposal of
subsidairires|New
leases|Fair
value
movem
ents|Foreign
exchange
moements|Other
non cash
changes|At end of
year| |---|---|---|---|---|---|---|---|---| ||£|£||||||| |Cash|137716|(19977)|-|-|-|-|-|117739| |Cash equivalents|0|0|-|-|-|-|-|0| |Overdraft facilityrepayable on demand|0|0|-|-|-|-|-|0| |||(19977)||||||| |Loans fallingdue within oneyear|(88776)|(16224)|0|-|-|-|0|(105000)| |Loans fallingdue after more than oneyear|(798985)|(1103864)|0|-|-|-|0|(1902849)| |Lease obligations|0|0|0|0|-|-|-|0| |TOTAL|(750045)|(1140065)|0|0|0|0|0|(1890110)| 24 **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **1. ACCOUNTING POLICIES** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP), 'Accounting and Reporting by Charities' published in March 2005 and applicable accounting standards. ## **1.2 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. ## **1.3 Incoming resources** All incoming resources are included in the Statement of financial activities when the charity has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability. Donated services or facilities, which comprise donated services, are included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable No income is recognised where there is no financial cost borne by a third party. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable ## **1.4 Resources expended** Expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled, Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. 25 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **1. ACCOUNTING POLICIES (continued)** ## **1.5 Tangible fixed assets and depreciation** All assets costing more than £ _500_ are capitalised. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings 25% reducing balance ## **1.6 Foreign currencies** Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of financial activities. ## **1.7 Programme related investment** Programme related investments are stated at the cost of investment. |**2. VOLUNTARY INCOME**
Donations
Fundrasing Campaign
Grants
**Voluntary Income**
**3. TRADING ACTIVITIES**
**Charity trading income**
Charity trading income-Domestic
Net income from trading activities|**Unristricted**
**Funds**
**£**
65582
0
0
65582
**Unristricted**
**Funds**
**£**
0|**Restricted**
**Funds**
**£**
0
29280
100270
129550
**Restricted**
**Funds**
**£**
-
0|**2025**
**Total**
**£**
65582
29280
100270
195132
**2025**
**Total**
**£**
0
0|**2024**
**Total**
**£**
58345
0
86709| |---|---|---|---|---| |||||145054| |||||**2024**
**Total**
**£**
0| |||||0| 26 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** |**4. INVESTMENTINCOME**
**Unristricted**
**Funds**
**£**
Rental Income
331378
**5. INCOMING RESOURCES FROM CHARITABLE**
**Unristricted**
**Funds**
**£**
Educational Activities
328070
**6. OTHER INCOMING RESOURCES**
**Unristricted**
**Funds**
**£**
Other incoming resources
24501
**7. EXPENDITURE BY CHARITABLE ACTIVITY**
**SUMMARY BY FUND TYPE**
**Unristricted**
**Funds**
**£**
Investment Income
117901
Educational Activities
541125
659026
**SUMMARY BY EXPENDITURE TYPE**
**Staff**
**Costs**
**£**
Investment Income
0
Educational Activities
344533
344533|**Restricted**
**2025**
**Funds**
**Total**
**£**
**£**
0
331378
**ACTIVITIES**
**Restricted**
**2025**
**Funds**
**Total**
**£**
**£**
0
328070
**Restricted**
**2025**
**Funds**
**Total**
**£**
**£**
0
24501
**Restricted**
**2025**
**Funds**
**Total**
**£**
**£**
0
117901
105776
646901
105776
764802
**Other**
**2025**
**Costs**
**Total**
**£**
**£**
117901
117901
302368
646901
420269
764802|**2024**
**Total**
**£**
257400| |---|---|---| |||**2024**
**Total**
**£**
231392| |||**2024**
**Total**
**£**| |||43624| |||**2024**
**Total**
**£**
70326
502718| |||573044| |||**2024**
**Total**
**£**
70326
502718| |||573044| 27 ## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** |**8. GOVERNANCE COSTS**
**Unrestricted**
**Funds**
**£**
Governance- Accountants fees
1500
Governance - Other expenses
50
Governance - Premises costs for head office
8848
Governance - telephone
497
Governance expense - computer expenses
890
Governance expense - wages and salaries
29503
Governance expense - NI
12589
Governance - depreciation - tangible fixed assets
3306
57183
====
**9. OTHER RESOURCES EXPENDED**
**Unrestricted**
**Funds**
**£**
Loss((profit) on disposal of fixed asset
0
====
**10. DIRECT COSTS**
**Allocation Unrestricted**
**£**
Other expenses
Direct
148
Bursaries and scholarships
Direct
15827
Staff training and welfare
Direct
634
Premises
Direct
58337
Insurance
Direct
7591
Consultancy fees
Direct
706
Professional fees
Direct
6263
Printing, Postage and Stationary
Direct
559
Equipment Hire
Direct
656
Student Related costs
Direct
0
Telephone
Direct
4476
Motor,Travel and substance
Direct
2165
Repairs and Renewals
Direct
2914
Bank Charges
Direct
2944
Subscriptions
Direct
3069
Miscellaneous
Direct
65
Donation
Direct
935
Advertising
Direct
5910
Interest
Direct
117901
Computer costs
Direct
7012
Wages and salaries (incl. subcontractors)
Direct
258951
Pension
Direct
1288
Purchases
Direct
103492
601843
====|**Unrestricted**
**Funds**
**£**
1500
50
8848
497
890
29503
12589
3306|**Restricted**
**Funds**
**£**
4950
4950
====
**Restricted**
**Funds**
**£**
0
====
**Restricted**
**£**
302
1595
21300
3000
1890
683
421
1047
51129
19459
100826
====|**2025**
**Total**
**£**
1500
50
8848
497
890
34453
12589
3306|**2024**
**Total**
**£**
1500
50
9417
446
851
27591
7808
3306| |---|---|---|---|---| ||57183
====
**Unrestricted**
**Funds**
**£**||62133
====
**2025**
**Total**
**£**|50969
====
**2024**
**Total**
**£**| ||||0
====
**2025**
**Total**
**£**
450
15827
2229
79637
7591
3706
6263
2449
656
683
4476
2586
3961
2944
3069
65
935
5910
117901
7012
310080
1288
122951|0
====
**2024**
**Total**
**£**
0
31040
2314
84754
5748
200
7451
6336
515
10020
4017
1619
311
599
573
1374
0
5211
70326
7662
242821
521
38663| ||601843
====||702669
====|522075
====| 28 **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **11. ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE** |**Staff Costs**
**Depreciation**
**Other Costs**
**2025**
**£**
**£**
**£**
**£**
Investment Income
0
0
117901
117901
Educational Activities
297491
0
287277
584768
**Charitable activities**
297491
0
405178
702669
**Governance**
47042
3306
11785
62133
**Loss on disposal of fixed assets**
0
0
0
0
344533
3306
416963
764802
**12. ANALYSIS OF RESOURCES EXPENDED BY ACTIVITIES**
**Activities undertaken**
**Total**
**Directly**
**Support Costs**
**2025**
**£**
**£**
**£**
Investment Income
601843
0
601843
Educational Activities
100826
62133
162959
**Total**
702669
62133
764802|**2025**
**£**
117901
584768|**2024**
**£**
70326
451749| |---|---|---| ||702669|522075| ||62133
0|50969
0| ||764802|573044| |||**Total**
**2024**
**£**
456270
116774| ||764802|573044| ## **13. NET INCOMING RESOURCES** This is stated after charging: |**13. NET INCOMING RESOURCES**
This is stated after charging:||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Depreciation of tangible fixed assets: owned by charity|3306|3306| |Auditor's remuneration|0|0| |Governance Accountant fees|1500|1500| During the year, no Trustees received any remuneration (2024 -£NIL). During the year, no Trustees received any benefits in kind (2024 -£NIL). During the year, no Trustees received any reimbursement of expenses (2024 -£NIL). ## **14. STAFF COSTS** Staff costs were as follows: |Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:|**2025**
**£**
344533
12589
357122
**2025**
**No.**
16|**2024**
**£**
270412
7808| |---|---|---| |||278220| |||**2024**
**No.**
14| No employee received remuneration amounting to more than £60,0O0 in either year. 29 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **15. TANGIBLE FIXED ASSETS** |**15. TANGIBLE FIXED ASSETS**|| |---|---| |**Cost**
At 31.08.24
Additions
At 31.08.25
**Depreciation**
At 31.08.24
charge for period
At 31.08.25
**Net book values**
**At 31.08.25**
**At 31.08.24**|**TOTAL**
**£**
133156
5500| ||138656| ||98071
3306| ||101377| ||37279| ||35085| ## **16. PROGRAMME RELATED INVESTMENT** |Market Value
At 31 August 2024
Additions
At 31 August 2025|**336 Philip**
**Lane**
**£**
733552
733552|**337 Fore**
**Street**
**£**
1434256
1434256|**4 Glasgw**
**Road**
**£**
467265
467265|**34 Henry**
**Road**
**£**
0|**Alterations to**
**Premises**
**£**
250953
250953|**Total**
**£**
2635073| |---|---|---|---|---|---|---| |||||1313970||4199996| |||||1313970||| Programme related investments enable other charities to further their charitable objectives as well as ours in advance of furthering the education of students throughout the UK. Total bank loans at the year end of £2,007,849 (2024: £860189) are owed in relation to the Programme Related Investments held. 30 ## **THE AXIS EDUCATIONAL TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **17. DEBTORS** |**EBTORS**||| |---|---|---| ||**2025**|**2024**| ||**£**|**£**| |Due after more than one year||| |Other Debtors|**0**|**0**| |Due within one year||| |Trade debtors|0|0| |Other debtors|67400|33996| ||67400|33996| ## **18. CREDITORS:** Amount falling due within one year |**2025**
**£**
Bank loans and Overdraft
105000
Trade creditors
830
Other taxation and social security
7782
Other creditors
39391
Accruals and deferred income
91000
244003|**2024**
**£**
88776
709
7605
34130
1335| |---|---| ||132555| ## **19. CREDITORS:** Amount falling due after one year ||**2025**|**2024**| |---|---|---| ||**£**|**£**| |Bank loans|1902849|798985| |Other creditors||| ||1902849|798985| |Creditors include amounts not wholly repayable within 5 years as follows:||| ||**2025**|**2024**| ||**£**|**£**| |Repayable by instalments|527500|543750| Bank loans are secured by way of a charge over the freehold buildings of the charity. 31 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **20. PRIOR YEAR ADJUSTMENT** There is no prior year adjsutment this year ## **21. STATEMENT OF FUNDS** |**Designated Funds**
**General Funds**
General Funds-all funds
**Total Unrestricted funds**
**Restricted funds**
Restricted funds-all funds
**Total of funds**
**SUMMARY OF FUNDS**
General Funds
Restricted funds|**Brought**
**Forward**
**£**
2223093
2223093
-143
2222950
**Restated**
**Brought**
**Forward**
**£**
2222950
0
2222950|**Incoming**
**Resources**
**£**
749531
749531
129550
879081
**Incoming**
**Resources**
**£**
749531
129550
879081|**Resources**
**Expended**
**£**
(659026)
(659026)
(105776)
(764802)
**Resources**
**Expended**
**£**
(659026)
(105776)
(764802)|**Transfers**
**In/Out**
**£**
0|**Carried**
**Forward**
**£**
2313598| |---|---|---|---|---|---| |||||0|2313598| |||||0|23631| |||||0|2337229| |||||**Transfers**
**In/Out**
**£**
0
0|**Carried**
**Forward**
**£**
2313455
23774| |||||0|2337229| 32 ## **THE AXIS EDUCATIONAL TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025** ## **22. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Tangible fixed assets
Programme related investments
Debtors due after more than 1 year
Current assets
Creditors due within one year
Creditors due in more than one year|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2025**
**2024**
**£**
**£**
**£**
£
37279
0
37279
35085
4199996
0
4199996
2886026
0
0
0
0
223175
23631
246806
233379
(244003)
0
(244003)
(132555)
(1902849)
0
(1902849)
(798985)| |---|---| ||**2313598**
**23631**
**2337229**
**2222950**| ## **23. RELATED PARTY TRANSACTIONS** There was not any related party transaction with any of the trustees this year and last year. 33