Company no. 02912767 Charity no. 1044174
## **The Fairness Foundation Report and Unaudited Financial Statements**
**30 April 2025**
## **The Fairness Foundation**
## **Reference and administrative details**
|**Reference and administrative details**|**Reference and administrative details**|
|---|---|
|**For the year ended 30 April 2025**||
|**Company number**|02912767|
|**Charity number**|1044174|
|**Registered office**|Dowgate Hill House|
||14-16 Dowgate Hill|
||London|
||EC4R 2SU|
|**Trustees**|Trustees, who are also directors under company law, who served during|
||the year and up to the date of this report were as follows:|
||J Richer|
||F Crook|
||P Gladwell|
||E D Revie|
|**Chief executive officer**|W Snell|
|**Bankers**|Unity Trust Bank plc|
||4 Brindley Place|
||Birmingham|
||B1 2JB|
|**Independent**|Godfrey Wilson Limited|
|**examiners**|Chartered accountants and statutory auditors|
||5th Floor Mariner House|
||62 Prince Street|
||Bristol|
||BS1 4QD|
1
## **The Fairness Foundation**
## **Report of the trustees**
## **For the year ended 30 April 2025**
The Trustees are pleased to present their annual Trustees’ report together with the financial statements of the charity for the year ended 30 April 2025.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Fairness Foundation is a company limited by guarantee governed by the Memorandum and Articles of Association dated 25 March 1994. It is also registered as a charity.
The Fairness Foundation was established in 1994 as an independent grant-giving foundation. It was initiated by the founder of Richer Sounds Limited.
The Fairness Foundation changed its name in January 2021. Before December 2020 it was known as The Persula Foundation.
A new legal entity called The Persula Foundation was registered as a charitable incorporated association on 16 June 2021 (registered charity number 1194819) to take over the grant-giving activity that had until then been carried out by the Fairness Foundation in its previous guise, after which the majority of the funds held by the Fairness Foundation were transferred to the Persula Foundation.
## **ORGANISATION**
A Board of Trustees administers the charity with day-to-day management of the charity being carried out by Will Snell, Chief Executive.
## **TRUSTEES**
The following Trustees have held office during the year and up to the date of approval of the financial statements:
- ▪J Richer
- ▪F Crook
- ▪P Gladwell
- ▪E D Revie
## **RECRUITMENT AND APPOINTMENT OF TRUSTEES**
As set out in the Articles of Association, there should be a minimum of three members of the board. The Board of Trustees meet regularly to administer the charity. The Trustees ensure that they are aware of developments to governance best practice and developments in the wider charity sector. Recruitment and appointment of new Trustees is based upon an appraisal of the skills and experience required by the charity. New Trustees are given induction and guidance by the existing Board members. All Trustees have given their time voluntarily and receive no benefits from the charity.
Remuneration of the charity’s key management personnel is agreed by the Chair of the charity utilising current market levels of pay reward for similar positions in similar organisations as a benchmark. The Executive’s salary is reviewed by the Chair annually.
2
## **The Fairness Foundation**
## **Report of the trustees**
## **For the year ended 30 April 2025**
## **OBJECTIVES AND ACTIVITIES**
The objects of the charity are to support charitable organisations and to develop original charitable projects.
The main activities of the charity are to promote fairness as an organising principle for a good society in the UK. This includes promoting the sharing of research into, and the education of the public in, the economic, social and political sciences, public services, and industry and commerce; promoting civic responsibility and good citizenship by encouraging debates about the role of fairness in society; and promoting the efficiency and effectiveness of charities and the effective use of charitable resources by encouraging greater collaboration and sharing of information between charitable organisations.
## **PUBLIC BENEFIT**
The Trustees have had due regard to the guidance on public benefit issued by the Charity Commission in exercising their powers and duties.
## **ACHIEVEMENTS AND PERFORMANCE**
On 30 June we published The Canaries, a report that sets out what the evidence tells us about how much more unfair Britain could become over the next five years, why this matters, and what we can do about it. The report was covered in The Observer and launched with a webinar featuring the Trussell Trust, Runnymede Trust and Sutton Trust.
On 9 July we published Deepening the Opportunity Mission, a report that sets out why tackling inequality is key to the success of Labour’s opportunity mission, what Labour needs to do in order to tackle inequality, and how to make it happen (with a focus on cross-government coordination and leadership). The report was launched with a webinar featuring Nesta, the Future Governance Forum and the Institute for Government.
On 15 October we published the Wealth Gap Risk Register, which looks at the evidence for how wealth inequality harms our economy, society, democracy and environment, what we can do about it, and what the public think about it. The report was covered in The Independent and its findings were the subject of a column written by Will Hutton in The Observer. It launched with a webinar featuring Liam Byrne MP, Sonia Sodha of The Observer and Graham Hobson of the Patriotic Millionaires. The report was also accompanied by an open letter to the Prime Minister.
On 1 November we ran a workshop, _Inequality Knocks_ , on the societal risks of wealth inequality, in partnership with the Policy Institute and the Department of War Studies at King’s College London, with 25 senior participants from a range of sectors. We published a report of the event’s findings on 26 January, which was covered in The Observer.
On 14 February we published a report, Fair Rules, Fair Growth, with Unchecked UK, looking at how a stronger regulatory system can drive both growth and opportunity. The report was covered in the New Statesman, with an op-ed in the Big Issue, and was accompanied by an open letter to the Prime Minister.
On 5 April we published a report, No money, more problems, about the need to reconsider assetbased welfare in the UK. The report was covered in the Observer.
3
## **The Fairness Foundation**
## **Report of the trustees**
## **For the year ended 30 April 2025**
We were pleased that the Thames Estuary Growth Board designed their investment and growth strategy around our five ‘fair necessities’.
During this period we co-hosted several events with the Policy Institute at King’s College London:
▪ Left Behind – with Paul Collier
▪ Failed State: Why Nothing Works and How We Fix It - with Sam Freedman ▪ Seven Children: Inequality and Britain’s Next Generation - with Danny Dorling
- Great Britain? – with Torsten Bell MP
- The return of Trump – with Liam Byrne MP
## **FINANCIAL REVIEW**
The activities of the year to 30 April 2025 are set out in the Statement of Financial Activities on page 8. The position at the end of the year is shown in the Balance Sheet on page 9.
The main funding source of the charity during this year was grants from the Persula Foundation, Thirty Percy Foundation and Network for Social Change Charitable Trust. The Trustees are satisfied with the activities for the year, which show a surplus of £75,372 (2024: £74,231).
## **RESERVES POLICY**
The Foundation’s policy with regard to reserves is to maintain adequate funds to deal with current and medium-term needs. At the end of the current year, the unrestricted general fund was in surplus by £146,163 (2024: £95,791). The charity requires it to holds six months of operating costs as reserve at minimum (£83,120). Expenditure is managed so as not to exceed the income provided in the form of grants, with any unplanned expenditure secured before it is committed to. The Foundation is currently holding £63,043 in excess of its reserves target in its unrestricted general fund. This has been held to fund an anticipated fall in fundraising in 25/26. The Foundation does not expect to find itself in a situation in which unplanned expenditure must be made without such supplementary funding being made available to cover it.
## **INVESTMENT POWERS**
There are no specific investment powers, save that the income and property of the charity, from whatever source derived, shall be applied solely towards the promotion of its objects as stated in the Memorandum and Articles of Association.
## **RISK MANAGEMENT AND ROLE OF TRUSTEES**
The Trustees have made an assessment of the risks to which the Foundation is exposed, in particular business, operational and financial, and procedures and reporting are in place to manage and reduce the identified risks. Procedures are in place to review identified and new risks on a regular basis.
The main business risk to the charity is the reliance on donations from the Persula Foundation. The Trustees of the Persula Foundation have made it clear that they are committed to providing funding to the charity for the foreseeable future so that it can continue in operation.
4
## **The Fairness Foundation**
## **Report of the trustees**
## **For the year ended 30 April 2025**
## **FUTURE DEVELOPMENTS**
The Foundation will continue to carry out research, policy, advocacy and communications work in pursuit of their mission to promote fairness as an organising principle for a good society in the UK. This will include deepening our networks among research, policy and campaigning partner organisations, engaging with politicians and business leaders, reaching out to both audiences and to the wider public through events and weekly emails, and commission and publishing research on relevant policy areas.
## **RELATED PARTIES**
The charity has a close relationship with the Persula Foundation, which provides some of the funding to enable the charity to carry out its charitable activities. A summary of transactions with these parties is set out in note 13 to the financial statements.
## **Third party indemnity provision for trustees**
Qualifying third party indemnity provision is in place for the benefit of all Trustees.
## **Statement of responsibilities of the trustees**
The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- ▪ observe the methods and principles in the Charities SORP; ▪ make judgements and accounting estimates that are reasonable and prudent; ▪ state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.
5
## **The Fairness Foundation**
## **Report of the trustees**
## **For the year ended 30 April 2025**
## **Independent examiners**
Godfrey Wilson Limited were re-appointed as independent examiners to the charitable company during the year and have expressed their willingness to continue in that capacity.
Approved by the trustees on 25 November 2025 and signed on their behalf by
## Frances Crook
Frances Crook - Trustee
6
## **Independent examiner's report**
## **To the trustees of**
## **The Fairness Foundation**
I report to the trustees on my examination of the accounts of The Fairness Foundation (the charitable company) for the year ended 30 April 2025, which are set out on pages 8 to 18.
## **Responsibilities and basis of report**
As the trustees of the charitable 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 charitable 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 the charitable company'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**
Godfrey Wilson Limited also provides payroll services to the charitable company. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2024, which I have applied with respect to this engagement.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- (1) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
- (2) the accounts do not accord with those records; or
- (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
- (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## Dougal Howard
Date: 25 November 2025
**Dougal Howard ACA Member of the ICAEW** For and on behalf of: **Godfrey Wilson Limited**
Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD
7
## **The Fairness Foundation**
**Statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 30 April 2025**
|**For the year ended 30 April 2025**||||
|---|---|---|---|
|Note
**Income from:**
Donations
3
Charitable activities
4
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
5
**Net income and movement in funds**
6
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|Restricted Unrestricted
£
£
50,000
185,912
-
2,370
-
3,331
50,000
191,613
-
5,232
25,000
136,009
25,000
141,241
25,000
50,372
-
95,791
25,000
146,163|**2025**
**Total**
**£**
**235,912**
**2,370**
**3,331**
**241,613**
**5,232**
**161,009**
**166,241**
**75,372**
**95,791**
**171,163**|2024
Total
£
210,168
-
2,178|
||||212,346|
||||1,220
136,895|
||||138,115|
||||74,231
21,560|
||||95,791|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 13 to the accounts.
8
## **The Fairness Foundation**
## **Balance sheet**
## **As at 30 April 2025**
|Note
**Current assets**
Debtors
10
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within 1 year
11
**Total assets less current liabilities**
**Net assets**
12
**Funds**
13
Restricted funds
General funds
**Total charity funds**|**£**
**5,383**
**170,617**
**176,000**
**(4,837)**|**2025**
**£**
**171,163**
**171,163**
**25,000**
**146,163**
**171,163**|2024
£
299
99,721|
|---|---|---|---|
||||100,020
(4,229)|
||||95,791|
||||95,791|
||||-
95,791|
||||95,791|
The directors are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pursuant to section 476 of the Act.
The directors acknowledge their responsibilities for:
- (i) ensuring that the company keeps proper accounting records which comply with section 386 of the Act; and
- (ii) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.
Approved by the trustees on 25 November 2025 and signed on their behalf by
## Frances Crook
Frances Crook - Trustee
9
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **1. Accounting policies**
## **a) Basis of preparation**
The Fairness Foundation is a charitable company limited by guarantee registered in England and Wales. The registered office address is Dowgate Hill House, 14-16 Dowgate Hill, London, EC4R 2SU.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Fairness Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **b) Going concern basis of accounting**
The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.
## **c) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
## **d) Donated services and facilities**
Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **e) Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.
10
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **1. Accounting policies (continued)**
## **f) Funds accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## **g) Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## **h) Grants payable**
Grants which have been authorised and paid are included as expenditure in the Statement of Financial Activities. Grants which have been authorised but not yet paid are accrued in the balance sheet and are included within creditors falling due within one year or after one year (as appropriate).
## **i) Allocation of support and governance costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to charitable activities as no direct fundraising costs are incurred.
## **j) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **k) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **l) Creditors**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **m) Financial instruments**
The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.
## **n) Pension costs**
The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SoFA.
11
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **1. Accounting policies (continued)**
## **o) Accounting estimates and key judgements**
- In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.
## **2. Prior period comparatives: statement of financial activities**
|**Income from:**
Donations
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income**|2024
Total
£
210,168
2,178|
|---|---|
||212,346|
||1,220
136,895|
||138,115|
||74,231|
All income and expenditure in the prior year was unrestricted.
## **3. Income from donations**
|Grants
Donations
Gift Aid|Restricted Unrestricted
£
£
50,000
167,935
-
16,727
-
1,250
50,000
185,912|**2025**
**Total**
**_£_**
**217,935**
**16,727**
**1,250**
**235,912**|2024
Total
_£_
210,000
168
-|
|---|---|---|---|
||||210,168|
12
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **4. Income from charitable activities**
|**Income from charitable activities**||
|---|---|
|**2025**
**£**
Contract income
**2,370**
All income from charitable activities in the current year was unrestricted.|2024
£
-|
|||
**5. Total expenditure**
|**Total expenditure**||||
|---|---|---|---|
|Staff costs (note 8)
Editorial board
Freelancers
Expert contributors
Project expenditure - Attitudinal research
Events
Travel & subsistence
Office costs
Insurance
Sundry
Legal expenses
Audit & accountancy
**Sub-total**
Allocation of support and governance costs
**Total expenditure**|Raising
funds
£
5,232
-
-
-
-
-
-
-
-
-
-
-
5,232
-
**5,232**|Charitable
activities
£
£
94,167
5,231
15,373
-
22,850
-
300
-
2,019
-
2,887
-
-
683
-
13,233
-
927
-
-
-
600
-
2,739
137,596
23,413
23,413
(23,413)
**161,009**
**-**
Support and
governance|**2025**
**Total**
**£**
**104,630**
**15,373**
**22,850**
**300**
**2,019**
**2,887**
**683**
**13,233**
**927**
**-**
**600**
**2,739**|
||||**166,241**
**-**|
||||**166,241**|
Total governance costs were £4,949 (2024: £5,021 restated)
13
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
|**5.**
**Total expenditure (continued)**
**Prior period comparative**
Staff costs (note 8)
Other staff costs
Editorial board
Freelancers
Expert contributors
Project expenditure - Grants (note 7)
Project expenditure - Attitudinal research
Events
Travel & subsistence
Office costs
Insurance
Audit & accountancy
**Sub-total**
Allocation of support and governance costs
**Total expenditure**|Raising
funds
£
1,220
-
-
-
-
-
-
-
-
-
-
-
1,220
-
1,220|Charitable
activities
£
£
57,940
1,830
-
398
14,594
-
20,482
-
2,268
-
10,000
-
13,920
-
1,473
-
-
697
-
8,969
-
633
-
3,691
120,677
16,218
16,218
(16,218)
136,895
-
Support and
governance|2024
Total
£
60,990
398
14,594
20,482
2,268
10,000
13,920
1,473
697
8,969
633
3,691|
|---|---|---|---|
||||138,115
-|
||||138,115|
**6. Net movement in funds** This is stated after charging:
|**Net movement in funds**
This is stated after charging:|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Trustees' remuneration|**Nil**|Nil|
|Trustees' reimbursed expenses|**Nil**|Nil|
|Trustees' indemnity insurance|**927**|633|
|Independent examiner's remuneration (excluding VAT):|||
|Independent examination|**2,200**|2,100|
|Other services|**82**|976|
14
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
**7. Grants payable**
During the year, no grants were awarded to institutions, (2024: 2 new grants were awarded to 2 institutions for funding partnership working (audio content production, training and advice) and to support 'Steps to success', a national education, training and employment programme).
|InfoSound
DePaul UK
**Staff costs and numbers**
Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs
Employees earning more than £60,000 during the year:
Between £60,000 and £70,000|**2025**
**£**
**-**
**-**
**-**
**2025**
**£**
**96,935**
**4,625**
**3,070**
**104,630**
**2025**
**No.**
**1**
**1**|2024
£
5,000
5,000|
|---|---|---|
|||10,000|
|||2024
£
57,962
1,707
1,321|
|||60,990|
|||2024
No.
-|
|||-|
**8. Staff costs and numbers** Staff costs were as follows:
The key management personnel of the charitable company comprise the Trustees and Chief Executive Officer. The total employee benefits of the key management personnel were £69,379 (2024: £60,990).
|Average head count|**2025**
**No.**
**2.6**|2024
No.
1.0|
|---|---|---|
## **9. Taxation**
The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
15
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **10. Debtors**
|**10. **|**Debtors**|||
|---|---|---|---|
|||**2025**|2024|
|||**£**|£|
||Prepayments|**2,383**|299|
||Other debtors|**3,000**|-|
|||**5,383**|299|
|**11. **|**Creditors: amounts due within 1 year**|||
|||**2025**|2024|
|||**£**|£|
||Trade creditors|**-**|100|
||Accruals|**2,640**|2,895|
||Other taxation and social security|**1,823**|1,064|
||Other creditors|**374**|170|
|||**4,837**|4,229|
|**12. **|**Analysis of net assets between funds**|||
|**Analysis of net assets between funds**||||
|---|---|---|---|
||Restricted|General|**Total**|
||funds|funds|**funds**|
||£|£|**£**|
|Current assets|25,000|151,000|**176,000**|
|Current liabilities|-|(4,837)|**(4,837)**|
|**Net assets at 30 April 2025**|**25,000**|**146,163**|**171,163**|
|**Prior period comparative**|Restricted|General|Total|
||funds|funds|funds|
||£|£|£|
|Current assets|-|100,020|100,020|
|Current liabilities|-|(4,229)|(4,229)|
|**Net assets at 30 April 2024**|**-**|95,791|95,791|
16
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **13. Movements in funds**
|**Movements in funds**|||||
|---|---|---|---|---|
||At 1 May|||**At 30 April**|
||2024|Income|Expenditure|**2025**|
||£|£|£|**£**|
|**Restricted funds**|||||
|Thirty Percy Grant|-|50,000|(25,000)|**25,000**|
|**Total restricted funds**|-|50,000|(25,000)|**25,000**|
|General funds|95,791|191,613|(141,241)|**146,163**|
|**Total unrestricted funds**|95,791|191,613|(141,241)|**146,163**|
|**Total funds**|95,791|241,613|(166,241)|**171,163**|
|**Purposes of restricted funds**|||||
|Thirty Percy Grant|Funding to help us to do research,||policy and advocacy work on||
||issues around taxing wealth, including on wealth|||inequality more|
||generally.||||
|**Prior period comparative**
General funds
**Total unrestricted funds**
**Total funds**|At 1 May
2023
£
21,560
21,560
21,560|Income
£
212,346
212,346
212,346|£
(138,115)
(138,115)
(138,115)
Expenditure|At 30 April
2024
£
95,791|
|---|---|---|---|---|
|||||95,791|
|||||95,791|
17
## **The Fairness Foundation**
## **Notes to the financial statements**
## **For the year ended 30 April 2025**
## **14. Related party transactions**
J Richer, a trustee, is also a director and trustee of other organisations, as listed below. During the year there was a grant received from the Persula Foundation.
Details of these total receipts, payments and amounts outstanding are as follows:
|**Organisation**
Persula Foundation
Trustee
**Prior period comparative:**
**Organisation**
Richer Sounds Ltd
Director
Persula Foundation
Trustee
**Role in**
**organisation**
**Role in**
**organisation**|**£**
150,000
150,000
**£**
-
210,000
210,000
**Receivable**
**during the**
**year**
**Receivable**
**during the**
**year**|**£**
**£**
-
-
-
-
**£**
**£**
2,872
-
6,347
-
9,219
-
**Payable**
**during the**
**year**
**Outstanding**
**at 30 April**
**2024**
**Payable**
**during the**
**year**
**Outstanding**
**at 30 April**
**2025**|**£**
**£**
-
-
-
-
**£**
**£**
2,872
-
6,347
-
9,219
-
**Payable**
**during the**
**year**
**Outstanding**
**at 30 April**
**2024**
**Payable**
**during the**
**year**
**Outstanding**
**at 30 April**
**2025**|
|---|---|---|---|
||||-|
18