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← Grit: Breakthrough Programmes

2025-06-30-accounts

gbreakthroughprogrammes | Accounts | 2025 |

Annual Report and Accounts Year Ended 30 June 2025

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Contents of the Financial Statements For Year Ended 30 June 2025

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|||| |---|---|---| |Page| |Report ofthe Trustees|1-8| |Independent Examiner’s Report|9| |Statement of|Financial Activities|10| |Balance Sheet|11-12| |Cash Flows Statement|13-14| |Notes to the Financial Statements|15-23|

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Company registration number 02930456 ,

Registered charity number 1041855

Independent Examiner Mr Alberto Di Lorenzo FCA HW Bedford Limited First Floor, Woburn Court, 2 Railton Road, Kempston Bedford, MK42 7PN

Trustees Chair: Mr B Rose (re-elected 25" January 2025) Mr A Basu Mrs K Boulton (elected 25% January 2025) Ms A Kalombodza (re-elected 25" January 2025) Ms N Mills-Robertson Mr C Murray Mr M Parton Mr D Woolley

Chief Executive Officer Ms E Garraway

Management Executive Team Ms E Garraway Ms A Asantewa Mr J Down

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Company Secretary

Mr J Down

Registered address

3rd Floor, The Library Building, Sun Street, Tewkesbury, Gloucestershire, GL20 5NX

Solicitors

Harbottle & Lewis LLP, 7 Savoy Court, London WC2R oEX

Bankers HSBC UK Bank Ple, 55 Corporation Street, Coventry, CV1 1GX

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Report of the Trustees

The trustees present their annual risk either from physical, mental or pan and nancial ing}, of the sexual abuse, drug or other substance charity tor the year ended 30 June abuse, criminal activity, poverty, 2025. The trustees have adopted the homelessness, unemployment or provisions of the Statement of illiteracy; to help them improve their Recommended Practice or”) condition and thereby become useful “Accounting and Reporting by members of society. Charities” issued in July 2014 in preparing the annual report and the annual report and report and and The trustees confirm that they have trustees confirm that they have confirm that they have that they have they have have financial statements of the charity. statements of the charity. of the charity. the charity. charity. referred to the guidance contained in to the guidance contained in the guidance contained in guidance contained in contained in in

preparing the annual report and the annual report and report and and The trustees confirm that they have trustees confirm that they have confirm that they have that they have they have have financial statements of the charity. statements of the charity. of the charity. the charity. charity. referred to the guidance contained in to the guidance contained in the guidance contained in guidance contained in contained in in the Charity Commission’s general Status and administration guidance ‘h Pwe benei when The Charity was originally registered shiewtiven h oan s nef any with the Charity Commission by Trust oOnyectives vd np the uture Ik Deed in May 1991 under registration anaes h | nee fiad[nE] number 1041855. On 31 January 1995, rh, th oh € year an via sive it was wound up and reconstituted on 1 that the charity Is in compliance. February 1995 as a company limited by The trustees of Grit who served during trustees of Grit who served during of Grit who served during Grit who served during who served during served during during guarantee, governed by its the year were: year were: were:

The trustees of Grit who served during trustees of Grit who served during of Grit who served during Grit who served during who served during served during during the year were: year were: were:

Memorandum and Articles of Association. The company registration number is 2930456. The charity changed its name from “Youth at Risk (UK)” to “Grit: Breakthrough Programmes” with Companies2017 and with House on the Charity the 9th Commission June on 10th August 2017 :

Chair:; Mr B Rose (re-elected 25th MrA By2025) Mrs K Boulton (elected 25th January 2025) Ms A Kalombodza (re-elected 25th omys N Mills-Robertsonanon Mr C Murray Mr M Parton Mr D Woolley

Object of the charity toTheifmnetpisant 01 the charity 1s The day to day running of the advance , © cra’ ©ceencite be at organisation is delegated to the CEO, young people who are deemed to be a Ellie Garraway.

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A word from the CEO

There is no shying away from the fact that this has been a turbulent year for Grit. In Higher Education (our main area of work) huge restructures and cost-saving measures have been taking place to deal with the financial pressures universities are under. This has meant they have not been able to commit funds with confidence towards external interventions and we have seena big drop in activity in this sector.

We have made some equally significant cost-savings to ensure the organisation can continue to makea difference and be robust and ready when an uptick in activity takes place. Our ability to navigate these uncertain times and the impact on our income has been hugely enhanced by the support and partnership from the Julia Rausing Trust. We’re incredibly grateful for their investment in Grit.

On a more positive note, the year ahead already sees us reaping some ofthe seeds sewn this last year with new innovations taking off with year 12 students in secondary schools, staff training for virtual school teams and an ongoing innovation looking at supporting young people entering the workplace. We can already see a better year, a higher level of activity, a more diversified income stream and a continued ability to make a difference with young people and those that surround them in the longer-term future.

A highlight of the past year was our celebration event centred around our Black Leaders and Students of Colour programme hosted by NTU and sponsored by Octopus Energy. The Grit Unleashed event saw staff attendees travel to Nottingham from 15 universities across the UK. Student champions spoke about the benefits they continued to get from participating in the programme and challenged universities to continue to do more to address issues facing students of colour in higher education. The day was uplifting and inspiring, an opportunity to bring our network of existing and potential Grit partners together and solidify our commitment to creating equitable experiences for students and combatting racism wherever we find it.

Asecond highlight of the year has been our first workshop for virtual schools, training staff in Kent. This is a new avenue of work for Grit, building on the successes of our work with Children’s Services teams evidenced by our recent independent evaluation. It was great to work with those staff who are supporting the educational journey of children in care and represents a new way for us to broaden the impact of Grit by working with those who build relationships with young people who have a complex set of challenges. We already have more work commissioned in this sector for the year ahead and are excited to learn, hone and build this strand of delivery.

So, a year of challenges as well as achievements. I’m really proud of how we’ve responded to the difficulties we’ve faced: by becoming more innovative, responsive and resilient. We find out who we are when things get tough and the staff, boards, trainers, partners and volunteers in Grit’s community have shown themselves to be creative, supportive and optimistic, giving us the energy and resource we need to continue to thrive.

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Ellie Garraway, CEO

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Revie of 9024-2 Ww 4 5

oftheyear has seen us bring in new partners; and bite size sessions as part of programmes run by HE professional development organisations have enabled us to us to to get Grit in in front of a of a a wider audience.

Over the year we worked with 591 development organisations have young people of which 79% reported enabled us to us to to get Grit in in front of a of a a increase in resilience wider audience. We worked with 225 adults of which Grit in Schools 93% say Grit continues to influence their practice a year on. We have run programmes supporting tae . tas iversities and their access work with Grit in Universities UnIVerS! . networks of local schools: with the The intense funding pressures on University of Sheffield and working universities (our principal market) has class boys; Solent University and made this a more challenging year learners of colour; the University of than usual, spurring us on to new Portsmouth in regional HE ‘cold spots.’ levels of innovation.

We worked in 23 universities, f j ted includingthe 8 that commissioned Grit for oF YounSsPcope itner tit d first time, and several key partners motivatl about thei . di have written Grit into their strategic motivation about, their studles Pden, ofthe strength of our We continue to innovate here too. In response to requests from schools we Demand for our work with Black for our work with Black our work with Black work with Black with Black Black have created a new curriculum for year Student Leaders and Students of Leaders and Students of and Students of Students of of 12 students around aspirational Colour remains very strong: we remains very strong: we very strong: we strong: we we choices; and we have begun a long delivered it in 9 universities and ran in 9 universities and ran 9 universities and ran universities and ran and ran ran term collaboration with the Boys workshops on inclusive coaching for on inclusive coaching for inclusive coaching for coaching for for Impact Hub in Portsmouth looking at staff supporting Students of Colour. supporting Students of Colour. Students of Colour. of Colour. transforming practice in engaging boys across the city.

Demand for our work with Black for our work with Black our work with Black work with Black with Black Black Student Leaders and Students of Leaders and Students of and Students of Students of of Colour remains very strong: we remains very strong: we very strong: we strong: we we delivered it in 9 universities and ran in 9 universities and ran 9 universities and ran universities and ran and ran ran workshops on inclusive coaching for on inclusive coaching for inclusive coaching for coaching for for staff supporting Students of Colour. supporting Students of Colour. Students of Colour. of Colour.

We continue to see impressive results against key indicators key indicators indicators of long-term long-term student success and achievement. success and achievement. and achievement. achievement.

against key indicators key indicators indicators of long-term long-term . . student success and achievement. success and achievement. and achievement. achievement. Grit and Professionals 8 % Efforts to grow our work with local 3 0 report an increased. self-efficacy authorityoff. We won partners two new have contracts begun toto pay Services staff teams and delivered our 84% deliver programmes for Children’s report an increased sense of first workshop with a Virtual School belonging (the team that supports the education In response to the funding challenges of care experienced young people). we have been experimenting with new And we’ve been working with the Staff | ways to package the Grit offer: shorter College. the leadership and versions of our key programmes has ollege, Une teacership an made them affordable to more development agency for local universities; new offers at quiet times authorities.

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Impact This drives new business and The year Saw the publication ofae two, contributesobjective: to towards extend the our reach strategic and university-led evaluations of our work impact of Grit that provide strong evidence of the change we make: of “sustained Busi Devel t qualitative impact on the work of local usineéss Mevelopmen authority staff teams”; and the We continue to develop innovative profound, transformative impact on ways to diversify our income streams: the academic and personal working with employers to explore development” of Black Leaders and how we can contribute to programmes Students of Colour in universities. supporting new graduates; and our We continue to work with universities continue to work with universities to work with universities work with universities with universities universities first fundraising campaign which as they evaluate Grit programmes in they evaluate Grit programmes in evaluate Grit programmes in Grit programmes in programmes in in generated significant donations.

We continue to work with universities continue to work with universities to work with universities work with universities with universities universities as they evaluate Grit programmes in they evaluate Grit programmes in evaluate Grit programmes in Grit programmes in programmes in in their own institutions. Again, they are reporting sustained, measurable positive impact of our work.

Grit remains financially stable and sustainable. 74% of our universities from 24/25 have already confirmed intentions to work with us again 1 25/26 in spite of financial challenges.

Comprehensive and academically rigorous, the evaluations are proving to be powerful tools for business generation.

Our reserves remain at the target of a level equivalent to six months running costs. Grit remains in good shape.

Communications

We continue to amplify our voice in the HE sector and also, for the first time, with local authorities. We have conferences; and run two roundtable events where potential clients hear from current clients and get a taste of

Future Plans

In the coming year we will build on these innovations: continuing to people; growing our income from individual donations; and leveraging funding from trusts & foundations

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Financial Review

2024/25 has seen the continuation of contributed to the charity and its the very challenging economic programmes. conditions and funding issues in Higher Education (ourkey market). In Thanks are also due to all the response we undertooka significant individuals, especially the volunteers, review of our cost base, bearing down who have supported Grit during the on all outgoings and reviewing year. resources against current and Unrestricted reserves policy predicted activity levels, taking ook ; appropriate action to work towards a Our Teserves remaln 10 line with our balance, policy to have unrestricted reserves equating to six months running costs.

Alongside this we developed a programme of work to diversify our income streams in the year ahead. As a result we remain well-placed to start the delivery of our new three-year strategy, designed to keep the charity proficient.

The income profile of the charity has continued to shift. Traded income accounted for 53% of income (as against 92% for the previous year and 62% three years ago), with the balance coming from trusts & foundations and individual donations.

Traded income is made up of sales of programmes to universities, school, colleges and local authorities.

This year Grit is reporting a deficit of £38,521. Trustees recognise that this result is a considerable achievement in difficult circumstances.

The charity wishes to thank all the funders who have supported it during the year. We are extremely grateful to the Julia Rausing Trust and all the other trusts and foundations that have

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Trustees Responsibilities

The trustees (who are also directors of The trustees trustees are responsible for for Grit: Breakthrough Programmes for keeping proper proper accounting records records the purposes of company law) are that disclose with reasonable accuracy disclose with reasonable accuracy with reasonable accuracy reasonable accuracy responsible for preparing the Trustees’ at any time the financial position any time the financial position time the financial position the financial position financial position position of the the Report and the financial statements in charitable company and enable them and enable them enable them them accordance with applicable law and to ensure that the financial ensure that the financial that the financial the financial financial statements United Kingdom Accounting comply with the Companies Act 2006. with the Companies Act 2006. the Companies Act 2006. Companies Act 2006. Act 2006. 2006. AccepStandardsted Seong(United Kingdom SoeGenerally They are also responsible' for safeguarding the assets of the Company law requires the trustees to charitable company and hence for prepare financial statements for each taking reasonable steps for the financial year which give a true and prevention and detection of fraud and fair view of the state of affairs of the other irregularities. charitablemoans soeoteooncompany andand application ofof the All of the current trustees have taken ; g . . all the steps that they ought to have resources, including the income and expenditure, of the charitable company tamed to intake thetiselves aware Gf any for that period. information needed by the company’s auditors for the purposes of their audit In preparing these financial preparing these financial these financial financial and to establish that the auditors are statements, the trustees are required trustees are required are required required aware of that information.

The trustees trustees are responsible for for keeping proper proper accounting records records that disclose with reasonable accuracy disclose with reasonable accuracy with reasonable accuracy reasonable accuracy at any time the financial position any time the financial position time the financial position the financial position financial position position of the the charitable company and enable them and enable them enable them them to ensure that the financial ensure that the financial that the financial the financial financial statements comply with the Companies Act 2006. with the Companies Act 2006. the Companies Act 2006. Companies Act 2006. Act 2006. 2006.

In preparing these financial preparing these financial these financial financial statements, the trustees are required trustees are required are required required to:

The directors are not aware of any relevant audit information of which the auditors are unaware.

On behalf of the Board

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Management, Structure and Governance

counsel and their attendance at charity both through individual Advisory Board meetings. The members ofthe Advisory Board are:

Governance Colleen Amos, co-founder and CEO of the Amos Bursary Organisational structure . . Sir Les Ebdon, CBE, DL, former Vice The directors; of the company are also Chancellor of Bedfordshire University charity trustees for the purposes of and former Director of the Office of charity law and under the company’s Fair Access Articles are also members of the ; ; company. The directors are the only Professor Sherria Hoskins, Provost of members of the company. the University of Portsmouth Under the requirements of the the requirements of the requirements of the of the Amira Mansour, Senior Learning and Mansour, Senior Learning and Senior Learning and Learning and and Memorandum and Articles of and Articles of Articles of of Development Advisor, GAM Advisor, GAM GAM Association one-third of the directors of the directors directors Investments

Under the requirements of the the requirements of the requirements of the of the Amira Mansour, Senior Learning and Mansour, Senior Learning and Senior Learning and Learning and and Memorandum and Articles of and Articles of Articles of of Development Advisor, GAM Advisor, GAM GAM Association one-third of the directors of the directors directors Investments shall retire from office each year (on a Lord Mendelsohn, Member of the length of service basis) and are eligible House of Lords International Relations for re-election. and Defence Committee

Once appointed, any necessary Helen Millichap, Metropolitan Police training needs for trustees are Deputy Assistant Commissioner for identified by the directors and Local Policing appropriate training is organised. . The Lord Neuberger, former President of trustees have continued to the Supreme Court of the United monitor, on a quarterly basis (monthly Kingdom for financial results and forecasts), the charity’s activities, to ensure they are Eunice Simmons, Vice-Chancellor and operated on a proper basis. Principal at the University of Chester Management structures Emily Sun, A leadership and strategy The level of eight. trustees is. considered, organisconsult a nt,tional specialising indevelopmentyouth sector sufficient for the current needs of the charity but the matter is under Brigadier Simon Waddington, Excontinuous review. British Defence Adviser to Pakistan.

The remuneration of key management personnel who are not trustees is recommended by the CEO and approved by the Chair of the Board of Trustees on behalf of the trustees. Ben Rose, Chair of Grit, also chairs the Advisory Board who continue to be immensely supportive; the charity is greatly indebted to each and every one of them. They actively support the

Dawn Warwick, former Director of Children's Services and social care specialist

Gut‘ Management Executive Team y

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Fundraising Statement

Risk management

Grit’s income comes from a mix of The charity maintains charity maintains maintains a Risk traded income (sales of programmes to Register identifying high level identifying high level high level level universities, schools and local risks. The register The register register is used by the used by the by the the authorities), trusts and foundations, Management Executive to and donations from individual identify potential potential risks and put in and put in put in in supporters. Donations are solicited by place strategies to reduce strategies to reduce to reduce reduce or avoid avoid personal requests from senior staff, negative impact. trustees and the Advisory Board. The charity carries out no fundraising with The trustees continue to assess the general public, either in-house or the major risks to which the third party. charity is exposed including those related to its operations and finances.

The charity maintains charity maintains maintains a Risk Register identifying high level identifying high level high level level risks. The register The register register is used by the used by the by the the Management Executive to identify potential potential risks and put in and put in put in in place strategies to reduce strategies to reduce to reduce reduce or avoid avoid negative impact.

The trustees are satisfied, having regard to the size and objects of the charity that appropriate measures are in place to manage its exposure to risk.

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Grit: Breakthrough Programmes (Limited by Guarantee)

Independent Examiner's Report to the Trustees of Grit: Breakthrough programmes

I report to the charity trustees on my examination of the accounts ofthe Company for the year ended 30 June 2025.

Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

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

Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

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.

Alberto Di Lorenzo FCA HW Bedford Limited First Floor, Woburn Court 2 Railton Road, Kempston Bedford, MK42 7PN Date: vB fsb f DedVa

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Grit: Breakthrough Programmes (Limited by Guarantee)

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|||||||||| |---|---|---|---|---|---|---|---|---| |STATEMENT|OF|FINANCIAL|ACTIVITIES|(INCORPORATING|AN|INCOME|AND|EXPENDITURE| |ACCOUNT)| |For the Year Ended 30 June 2025| |Notes| |Unrestricted|Restricted|Unrestricted|Restricted| |Funds|Funds|Total|Funds|Funds|Total| |2025|2025|2025|2024|2024|2024| |£|£|£|£|£|£| |Income|and|:|:|:|:|Soe|seers| |Endowments|—|een| |Donations and|(2)|27,439|240,000|267,439|7,490|50,000|57,490| |legacies|—|.|.|.|voip|sais| |Investments &|(2)|4,571|-|4,571|1,616|-|1,616| |Other|ee| |Total|Income|342,684|240,000|582,684|716,930|50,000|766,930| |and| |Endowments| |RaisingFunds 2|cpABO|ee|ABO|EEE|.| |Charitable activities|(3)|374,125|240,000|614,125|795,501|50,000|845,501| |-TotalExpenditure|==|381,205.-———=—«240,000.——s«621,205.—<Ct~=—=C:«~OHON—s——CO~*OHOO.-—~—sBG|AHO| |Net| |.| |income/(expenditure)|(38,521)|-|(38,521)|(84,571)|-|(84,571)| |for the year| |betweenfunds|ee| |Net movement in|(38,521)|-|(38,521)|—|(84,57)|-|(84,571)| |funds for the year|—|cs|ses| |Fund balances b/fwd|277,987|-|277,987|362,558|OO|362,558| |ata July| |Fund balances c/fwd|239,466|8|ees|230,466|=|277,987.|EEE 999,089.|

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The notes form part of these financial statements

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Grit: Breakthrough Programmes (Limited by Guarantee)

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|||||| |---|---|---|---|---| |BALANCE SHEET| |For the Year Ended go June 2025|Company number:|02930456| |2025|2024| |Notes|£|£| |FIXED ASSETS| |Fixed assets|(6)|4,031|6,659| |4,031|6,659| |Debtors|(7)|23,157|105,307| |Cash at bank|351,310|207,902| |374,467|313,209| |CREDITORS| |Amounts|falling due within one year|(8)|(139,032)|(41,881)| |NET CURRENT ASSETS|235,435|271,328| |TOTAL ASSETS|LESS CURRENT LIABILITIES|239,466|277,987| |NET|ASSETS|239,466|277,987| |Unrestricted funds|(10)|239,466|277,987| |Restricted funds|(10)|-|-| |TOTAL FUNDS|239,466|277,987|

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The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

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The notes form part of these financial statements

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Grit: Breakthrough Programmes (Limited by Guarantee)

BALANCE SHEET For the Year Ended 30 June 2025

Company number 02930456

These financial statements have been prepared in accordance with the provisions applicable to charitable companies’ subject to the small companies regime.

The_fjnangial stgzements were approved by the Board of Trustees and authorised for issue on wef Mf l.DS and were signed on its behalf by:

Meet. Mr B Rose — Trustee and Chair

The notes form part of these financial statements

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Grit: Breakthrough Programmes

STATEMENTOFCASHFLOWS
FortheYearEnded30June2025
Notes 2025 2024
Cashflowsfromoperating
activities
Cashgeneratedfromoperations		 (1) 139,869 (227,359)
Netcashfromoperatingactivities 139,869
nani		 (227,359)
—-—
Cashflowsfrominvesting
activities
Purchaseoftangiblefixed assets		 (1,208) -
Proceedsondisposals offixed
assets		 176
Interestreceived 4,571 1.616
Net cashfrom investing activities 3,539 1,616
Cashflowsfromfinancing
activities
Cashgeneratedfromoperations - -
Netcash fromfinancing activities . .
Increase/(Decrease) incashand
cashequivalents
Cashandcash equivalents at
beginningofyear		 (2) 143,408
207,902		 (225,743)
433,645
Cashandcashequivalents atend
ofyear		 351,310 207,902

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The notes form part of these financial statements

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Grit: Breakthrough Programmes

NOTES TO THE STATEMENT OF CASH FLOWS For the Year Ended 30 June 2025

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||||||| |---|---|---|---|---|---| |(1) Reconciliation|of net income to cash generated from| |operations| |2025|2024| |Net income/(expenditure)|for|the|year|(38,521)|(84,571)| |Depreciation|charges|1,488|3,176| |Loss on disposal|of fixed assets|2,172|.| |Finance income|(4,574)|(1,616)| |(39,432)|(83,011)| |(Increase)/decrease|in trade and other|82,150|(26,061)| |debtors|97,151| |Increase (Decrease)|in trade and|other|,|(118,287)| |creditors| |Cash generated from operations|139,869|(227,359)|

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(2) Cash and cash equivalents

The amounts disclosed on the statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

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|||| |---|---|---| |30.6.25|1.7.24| |Cash and cash equivalents|£|£| |351,310|207,920| |351,310|207,902| ||30.6,.24|1.7.23| |£|£| |Cash and cash equivalents|207,902|433,645| |207,902|433,645|

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The notes form part of these financial statements

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For the Year Ended 30 June 2025 Notes to the Financial Statements

Grit: Breakthrough Programmes

  1. ACCOUNTING POLICIES

a) Basis ofAccounting Grit: Breakthrough Programmes is a charity based in the United Kingdom. The address of the principal office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to support or to promote such charitable purposes as the Trustee’s in their absolute discretion determine. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ , the Charities Act 2011 and the Companies Act 2006.

The financial statements have been prepared on a going concern basis. The Trustees have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. They believe that the charity will continue to have adequate cash resources in order to pay all of its creditors as they fall due for the foreseeable future and at least 12 months from the date of signing of these financial statements.

The presentational currency is £ sterling and rounded to the nearest pound.

b) Significant judgement and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions which impact on the reported amounts of assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

c) 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. Trade income (fees from universities, schools and local authorities) has been designated “unrestricted”.

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 cost of raising and administering such funds are charged against the specific fund. The aim and use of restricted funds on projects are set out in the notes to the financial statements. Investment income is allocated to the appropriate fund.

d) Income & Endowments

Income from donations and grants, including capital grants, is included in the Statement of Financial activities when they are receivable i.e. the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy, except as follows:

The notes form part of these financial statements

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Grit: Breakthrough Programmes For the Year Ended 30 June 2025 Notes to the Financial Statements

e) Expenditure Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Certain expenditure is directly attributable to specific activities and has been included in those costs categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories according to time or the nature of the activity undertaken.

Raising funds Costs of raising funds are those costs incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Charitable activities Charitable activities represent expenses incurred in the running of specific programmes and training courses.

Other costs Other costs are governance costs that are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.

Programme support and administration costs Programme support and administration costs are those costs incurred directly in support of expenditure on the objects of the Charity. These costs are apportioned to the charitable activities on a reasonable and consistent basis, based on time and resources spent on each area.

f) Fixed assets Fixed assets are stated at cost, or estimated market value at the date of receipt where assets have been donated to the charity.

The cost of minor additions or those costing in the region of £100 or below are not capitalised.

Depreciation is provided to write off the cost less estimated residual values of all fixed assets over their expected useful lives at the following rates:

Leasehold improvements: Over the remaining term of the lease Office equipment: 33% per annum reducing balance Furniture, fixtures and fittings: 25% per annum reducing balance

g) Financial instruments The charity has elected to apply the provisions of section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity’s statement of financial position when the charity becomes party to contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest, Financial assets classified as receivable within one year are not amortised.

The notes form part of these financial statements 16

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Grit: Breakthrough Programmes For the Year Ended go June 2025 Notes to the Financial Statements — continued

BasicBasic financial financial liabilities,liabilities including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method,

h) Leased assets

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the statement of financial activities.

Lease payments are analysed between capital and interest components. The interest element of the payment is charged to the statement of financial activities over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding, The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating lease. Their annual rentals are charged to the statement of financial activities on a straight- line basis over the term of the lease.

i) Pension costs The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. Contributions payable are charged to the statement of financial activities in the year they are payable. Differences between contributions payable and contributions actually paid are shown in either accruals or prepayments in the balance sheet.

j) Basis of consolidation The consolidated accounts incorporate the results of Grit: Breakthrough Programmes (“the Charity”) and its subsidiary undertaking on a line-by-line basis. The consolidated entity is referred to as “the Group”. No separate company Statement of Financial Activities (SOFA) has been prepared for the Charity as permitted by section 408 of the Companies Act 2006 and paragraph 397 of the SORP.

k) Related party disclosure

The charity has taken advantage of exemptions contained within Accounting and Reporting by Charities (FRS102) and has therefore not disclosed transactions with entities which form part of the group.

}) Corporation tax In common with other charities, the charity does not pay tax on most types of income as long as it uses the money for charitable purposes. Also, in common with other charities, the charity can claim back tax that has been deducted on, for example, bank interest and donations.

The notes form part of these financial statements 17

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Grit: Breakthrough Programmes For the Year Ended 30 June 2025 Notes to the Financial Statements - continued

  1. INCOME AND ENDOWMENTS

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|||| |---|---|---| |2025|2024| |£|£| |Donations from individuals|21,108|4,140| |Donations from charitable foundations|246,331|53,350| |ae|er| |267,439|57,490|

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||||| |---|---|---|---| |Charitable|activities| |Trade income|(for personal| |development programmes for young| |people and the|adults that work with|310,674|707,824| |them)|ee| |Other| |Investment income- bank interest receivable|4,571|1,616| |4,571|1,616|

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All income arises in connection with the charity’s principal activity. The income resources were all generated in the United Kingdom.

3. ANALYSIS OF CHARITABLE ACTIVITIES AND OTHER COSTS

Charitable Activities

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||||||||| |---|---|---|---|---|---|---|---| |Programme|Core|2025|2024| |expenditure|Expenditure|£|£| |Salaries and benefits|-|378,058|378,058|438,296| |Redundancy Costs|-|6,650|6,650|-| |Social security costs|-|30,346|30,346|38,584| |Contractors|and|64,475|-|64,475|194,879| |freelancers| |Travel and subsistence|-|27,883|27,883|58,876| |Support and.|12,922|-|12,922|19,271| |infrastructure|costs| |Telecoms|and computer|-|28,499|28,499|45,031| |expenses| |Loss|on|disposal|of assets|-|2,172|2,172|-| |Professional|fees|25,053|31,977|57,030|33,049| |Independent|examination|-|-|-|6,000| |Depreciation|-|1,488|1,488|3,176| |Exceptional training costs|-|-|-|935| |Other costs|-|4,602|4,602|13,404| |Total costs for the year|102,450|511,675|614,125|851,501|

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The notes form part of these financial statements

18

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Grit: Breakthrough Programmes

For the Year Ended 30 June 2025 Notes to the Financial Statements - continued

Costs are directly attributable to the activity undertaken, any apportioned costs are apportioned on a basis of time and nature of the activities undertaken.

basis oftime and nature of the activities undertaken.and nature of the activities undertaken.nature of the activities undertaken.of the activities undertaken.the activities undertaken.activities undertaken.undertaken.
2025
f		 2024
é
Otherservices— Independent
Examination		 6,600
6,600		 6,000
6,000

4. STAFF COSTS Details of the staff costs are shown in note 3.

1 employee received remuneration in the band £90,000-£100,000 per annum (2024: 1 in the band £80,000-£90,000 per annum) and the company made pension contributions totalling £6,327 (2024: £ 6,327).

The average number of employees during the year 11 (2024:12).

The charity operates a defined contribution pension scheme, the assets of which are held outside the charity. The charity contributed a total of £16,504 (2024: £18,896) on behalf of all employees during the year. At the yearend, £2,175 (2024: £2,633) contributions were outstanding.

  1. TRUSTEES' REMUNERATION AND BENEFITS None of the members of the Board of trustees received any remuneration during this year or last year. During the year, no trustees (2024: E£Nil) received reimbursement of charity related expenditure (2024: ENil).

The trustee indemnity is included as part of the charity’s general indemnity insurance and covers the trustees’ liability in respect of neglect and breach of trust or duty to the charity.

The notes form part of these financial statements 19

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Grit: Breakthrough Programmes

For the Year Ended 30 June 2025

Notes to the Financial Statements - continued 6. FIXEDASSETS

FIXEDASSETS
FIXEDASSETS Office
fittings
e		 Charity
Furniture
fixtures
and
equipment		 Total
£
COST
At1July2024
Additions
Disposals
At30June2025		 28,297
1,208
(15,944)
13,561		 8,489
-
(8,489)
-		 36,786
1,208
(24,433)
13,561
DEPRECIATION
AtiJduly2024
Chargeforthe year
Disposals
At30June2025		 22,320
1,488
(14,278)
9,530		 7,807
-
(7,807)
-		 30,127
1,488
(22,085)
9,530
NETBOOKVALE
At30June2025 4,031 - 4,031
At30June2024 5,977 682 6,659

The closing net book value represents fixed assets used for the support and administration of the charity

  1. DEBTORS
2025 2024
£ £
TradeDebtors
Otherdebtors
Prepaymentsandaccruedincome		 17,810
-
5,347
23,157		 22,262
72,560
10,485
105,307
8. CREDITORS
2025 2024
£ £
TradeCreditors
Taxationandsocialsecurity
Accruals
Othercreditors		 6,094
4,901
9,963
2,514		 16,442
10,064
9,418
4,457
Deferredincome(note 9) 115,560
139,032		 1,500
41,881

The notes form part of these financial statements

20 Continued...

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Grit: Breakthrough Programmes For the Year Ended 30 June 2025

Notes to the Financial Statements - continued

  1. DEFERRED INCOME Deferred income comprises of money received in advance of programmes, which are yet to start or have started but not been completed and deferred element relates to the element of the programme to be completed in the forthcoming year.
2025 2024
Balanceat 1July2024
Amountreleasedtoincomingresources		 1,500
(1,500)		 96,260
(96,260)
Amountdeferred inyear 115,560 1,500
115,560 1,500
  1. MOVEMENT IN FUNDS
Ati
July
2024		 Incoming
resources		 Resources
expended		 Deferred
Income		 At30
June
2025
Unrestrictedfunds 277,987 342,684 (381,205) - 239,466
Restrictedfunds (seenote 11) - 330,000 (240,000) (90,000) -
277,987 672,684 (621,205) (90,000) 239,466

The unrestricted funds represent the free funds of the charity that are not designed or restricted for particular purposes, this includes traded income received via schools, universities and local authorities.

The restricted funds represent grants from The Julia Rausing Trust to undertake specific programmes to improve the social education of young people.

:

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The notes form part of these financial statements

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11. ANALYSIS OF RESTRICTED FUNDS

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||||||| |---|---|---|---|---|---| |Ati July|Incoming|Resources|Deferred| |2024|resources|expended|Income|At 30 soos| |Julia Rausing Trust|-|330,000|(240,000)|(90,000)|-| |-|330,000|(240,000)|(90,000)|-|

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12, COMMITMENTS UNDER OPERATING LEASES

Minimum lease payments under non-cancellable operating leases fall due as follows:

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|||| |---|---|---| |2025|2024| |Within one year|-|6,215| |Between one and five years|-|-|

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  1. CONTROLLING PARTY In the opinion of the trustees the Charity has no single controlling entity.

  2. ANALYSIS OF NET ASSETS BETWEEN FUNDS

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|||||| |---|---|---|---|---| |Unrestricted|Restricted| |Funds|Funds|Total|Total| |2025|2025|2025|2024| |£|£|£|£| |Fund balances|at 30 June|are| |represented by:| |Fixed assets|4,031|-|4,031|6,659| |Current assets|284,467|90,000|374,467|313,209| |Current liabilities|(49,032)|(90,000)|(139,032)|(41,881)| |239,466|-|239,466|__ 277,987| |The notes form part of|these financial statements| |continued...|

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For the Year Ended 30 June 2025 Notes to the Financial Statements — continued

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Grit: Breakthrough Programmes

15. RELATED PARTY DISCLOSURES

Except as set out in Note 5, there were no related party transactions for the years ended 30% June 2024 and 2025.

  1. LEGALSTATUS

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The notes form part of these financial statements 23