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← Making The Leap

2025-03-31-accounts

Registered number: 03162045 Charity number: 1058648

MAKING THE LEAP

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

MAKING THE LEAP

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 12
Independent Auditor's Report on the Financial Statements 13 - 16
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cash Flows 19
Notes to the Financial Statements 20 - 36

(A Company Limited by Guarantee)

MAKING THE LEAP

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Mr A Boucher
Mr J Williams
Mr W Chapman (resigned 28 October 2024)
Mr A Nooriala (resigned 13 January 2025)
Ms S Wallace
Mr N Cheffings (resigned 21 November 2024)
Ms K Eden-Green (resigned 28 October 2024)
Mr O Akunmu Babarinde (resigned 28 October 2024)
Mrs A Chhania (resigned 28 October 2024)
Mr L Meehan
Mr D Scott
Ms E Canavan (appointed 29 July 2024)
Ms D McKernan (appointed 29 July 2024)
Ms C Osaigbovo (appointed 29 July 2024)
Mr J Smith (appointed 27 January 2025)
Company registered
number
03162045
Charity registered
number
1058648
Registered office
Harriet Tubman House
Hazel Road
Kensal Green
London
NW10 5PP
Independent auditor
PEM Audit Limited
Registered Auditors
Salisbury House
Station Road
Cambridge
CB1 2LA
Bankers
The Co-Operative Bank
PO Box 250
Delf House, Skelmersdale
WN8 6WT

Page 1

(A Company Limited by Guarantee)

MAKING THE LEAP

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (second edition - October 2019).

Since the Charity qualified as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 21st February 1996. It is a registered charity, number 1058648. The objectives are the benefit of the public in London and elsewhere in the United Kingdom and in particular for those members of the public who may be unemployed by relieving poverty and distress through the provision of information, training and education. There have been no changes in the objects since the last annual report.

RECRUITMENT OF TRUSTEES

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

TRUSTEE INDUCTION AND TRAINING

An induction has been developed to ensure that any newly appointed trustee receives training on all matters necessary to enable them to perform their duties effectively. This may be tailored to their specific needs but covers as a minimum: governance and management; equal opportunities; a thorough induction to the history and current activities of the organisation; sufficient explanation of the charity’s financial accounts and reporting procedures to enable them to exercise effective fiscal oversight; explanation of all the charity’s policies including those relating to trustee expenses and how they can be claimed. The Chief Executive is responsible for ensuring that the induction process is arranged and completed.

ORGANISATIONAL STRUCTURE

The Trustees provided governance and oversight of all Making The Leap operations during the year. There were four board meetings within the year. The Finance & General Purposes Committee is the only standing committee of the charity. The Chief Executive had delegated authority to manage day to day activities and to sign contracts on behalf of the Management Committee in line with the organisation's objectives.

OBJECTIVES AND ACTIVITIES

The objectives for which Making The Leap is established are for the benefit of the public in London and elsewhere in the United Kingdom and in particular for the benefit of those members of the public who may be young and disadvantaged by relieving poverty and distress through the provision of advice, information, support, training and education.

The Trustees review the aims, objectives and activities each year and have regard to the Charity Commision's public benefit guidance when exercising any powers or duties to which the guidance is relevant. This report looks at what the charity has achieved and the outcomes of our work in the reporting period.

Page 2

(A Company Limited by Guarantee)

MAKING THE LEAP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

FUNDERS, GRANTS, PARTNERS AND DONORS

Every year, Making The Leap welcomes the support we get from companies, trusts, foundations and individuals.

This support is what enables us to transform the futures and raise the aspirations of young people—helping them to develop the skills behaviours and attitudes needed to succeed in any career they choose.

With this in mind, we would like to say a huge thank you to The Stone Family Foundation, The Mercers’ Company, The PA Foundation, The Inflexion Foundation, The Future Scope Charitable Foundation, Amazon, A. T. Kearney Limited, AKO Foundation, BP International Ltd, BNP Paribas Securities Services, Bates Wells and Braithwaite London LLP, Catalyst Lex Limited, Candriam Belgium, Fidelity UK Foundation, HYVE Group Plc, Howard Kennedy LLP, GIC London PTE, Hofmeister Enterprise (Luke Hamill), Hedley May LLP, Insurance Industry Charitable Foundation UK, Knight Frank, Savills (UK) Ltd, StepStone Group Europe LLP, Snap Group Ltd, Sky UK, Kintbury Capital, Morgan Stanley, Moore Kingston Smith, National Grid, PwC Foundation, Rubin Foundation Charity Trust, Youth Futures Foundation, Dominic Scott, Douglas Butlier, David Jeffrey, James Smith, Nicholas Cheffings, Sir Douglas Flint, Sandra Wallace, Steven Murad.

Your support means so much.

Overview

The financial statements of these accounts for the financial year of 2024-2025 showed the charity with a loss of £411,833 (2024 - £189,242).

Our total income for the year was £1,572,843, which is down by £84,051 from the previous year’s £1,656,894. Of that £568,068 came from Donations and Legacies, lower than the previous year’s £742,251. We are grateful to all the trusts, foundations, companies and individuals, who generously supported the organisation's activities.

Income from Charitable Activities was £981,054, with £806,651 coming from the SOMOs. An increase of £120,298, from £686,353,809 in 2023-2024. We are delighted and grateful to our funders and supporters, who have continued to support the organisation's activities generously.

Reserves

Making The Leap hold a mix of restricted and unrestricted reserves.

Restricted reserves represent the unspent balance of restricted income received by the charity, where the funding is allocated to specific charitable activities and projects. Restricted reserves will be applied to the future funding of those specific activities and projects to which the funds were intended.

Unrestricted reserves are held to fund and support the overall operation of the charity and can be applied by the charity to fund any aspects of the charity’s operations. Unrestricted reserves are also held as a buffer to enable the charity to a) withstand any short term cashflow and working capital shortfalls; b) mitigate against the financial impact of identified and monitored risks; and c) to cover any unforeseen expenditure. Our reserves policy is to build up reserves of up to six months of operating costs.

Unrestricted reserves have decreased from £1,721,299 to £1,356,266 at March 2025. Excluding the net book value of tangible fixed assets, free unrestricted reserves have decreased from £1,168,851 to £824,461.

Page 3

(A Company Limited by Guarantee)

MAKING THE LEAP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

INVESTMENT POLICY

Making The Leap does not have a formal Investment Policy and any cash is kept in current or deposit accounts with Co-Operative Bank. It is the Charity’s ongoing intention to be generally conservative and risk adverse with any cash held.

FUNDRAISING

Historically most of our fundraising has been from trusts, statutory sources, corporate donors and from the SOMO awards. We do not at present solicit donations from the general public, although individual donations can be made on our website.

RISK MANAGEMENT

Risk Management remains one of the most important responsibilities of the Board of Trustees and risks are considered regularly on an informal basis. The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company and are satisfied that the systems and procedures are in place to mitigate our exposure to the major risks. The following have been identified as the key risks to Making The Leap. Funding, loss of key staff, reputation, safeguarding, cyber security. Mitigations to the key risks include:

Page 4

(A Company Limited by Guarantee)

MAKING THE LEAP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE

INTRODUCTION

Making The Leap is a grassroots societal change charity that aims to make a big difference. From direct delivery to advocacy and leadership, we refuse to stay in our lane and believe passionately that those we exist to serve have the right to be anything they want to be.

Our mission is to transform the futures of less advantaged young people in the UK by providing training to raise their aspirations and develop their skills, confidence, and outlook to choose and succeed in a career. We work directly with young people in London, and using evidence from our delivery work, we raise awareness and encourage action on social mobility among UK employers and educators.

Our vision is that every young person in our country will have the chance to succeed, and every employer and educational institution will have a part to play in making it happen.

Why does social mobility matter? At Making The Leap, we see social mobility as having two key goals:

Whether you have a ‘working-class’ or professional job – and regardless of your race, class, gender or other characteristics – your pay and employment conditions mean that you have (among other things): the ability to feed yourself and your family, decent housing, and financial security.

Whether your parents have a working-class or professional job, or are unemployed you have fair access to any education and training opportunities, which in turn means that you have fair access to any employment opportunities you wish to pursue. And linking back to our first goal, you will have access to a good standard of living regardless of whether you choose a working class or professional job.

Why does this matter? Because social mobility is not yet a reality in the UK:

UK Social Mobility Awards 2024

The UK Social Mobility Awards (SOMOs) is a nationwide leadership initiative which has recognised and celebrated UK employers and educators working to improve social mobility since 2017. In 2024, employers who entered the SOMOs collectively employed close to 1.3 million people across 20 sectors in the UK. Employers in finance, law, and professional services continued to be the most represented sectors among SOMO entrants. Other sectors represented included media, local authorities, government, and energy.

Page 5

MAKING THE LEAP

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Hosted at the Hilton Park Lane, London and attended by 525 people, the annual SOMO Awards Gala in October 2024 was a huge success. Beyond the Awards, we continued to deliver a year-long programme of research advocacy and thought leadership activities linked to the SOMOs. In March 2025, we hosted the eighth annual Social Mobility Business Seminar. Attended by 150 key stakeholders, the event convened leaders and organisations from the private, public, and third sectors to discuss best practice on advancing social mobility. Our distinguished speakers and panel of experts included:

We also published our two annual SOMO research reports in 2024-25: Joining and thriving? Advancing Social Mobility in 2023-24 , and the UK Social Mobility Awards 2024 Winners’ Case Studies Report .

Careers Fairs 2024-25

Our annual Social Mobility Careers Fair aims to bridge the gap between young people from less advantaged socio-economic backgrounds (LSEBs) and employers, and to improve social mobility by giving young people insights into a range of organisations, access to job opportunities, and ultimately empowering them in their journeys to successful careers. Making The Leap also facilitates speed interviews at the Careers Fair, helping young people to develop their interview skills and their confidence before speaking to employers.

In September 2024, our Careers Fair was attended by 230 young people , with 11 employers acting as exhibitors: Babri, bp, CMC Markets, Hyve, Kier, Knight Frank, Microsoft, Moore Kingston Smith, Morgan Stanley Investment Management, PA Consulting, and Pentland Brands.

Feedback from young people who attended the Careers Fair reflected the positive impact of the event:

Page 6

MAKING THE LEAP (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Feedback from employers reflected how much they valued engaging and sharing advice with our young people:

Activity review 2024-25

Young Adults:

Our delivery activities with young adults continued to expand in 2024-25, with 1,499 young adults (compared to 1,378 young adults in 23-24) taking part in 4,051 hours of activities (compared to 2,982 hours in 23-24) to develop essential employability skills and support young adults into meaningful employment. Thanks to the efforts of our Engagement Team, we continued to see an increase in the number of young adults attending our monthly workshops as part of the ACE Programme. We also continued to expand our offer of ongoing support for our young people by co-delivering insight days, work experience programmes, networking sessions, and activities for our Alumni with partners across a wide range of employment sectors.

In 2024-25, delivery activities with young adults from LSEBs, which included the following:

The ACE Workshop had a highly positive impact on our young people’s personal and professional development, as reflected in their feedback shared:

Page 7

MAKING THE LEAP

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Delivery with young adults

Actual FY23/24 Actual FY24/25
Initial
advice
and
guidance		 1,378 1,499
Participated
in
MTL
delivery activities		 291 275

We also continued to expand our offer for Making The Leap’s Alumni, through the following activities:

Schools:

In 2024-25, we worked with 26 schools and reached 2,430 pupils. The slight decrease in schools and pupils compared to 2023-24 is attributable to the end of our long-running Career Ahead Programme. Meanwhile, the apparent decrease in delivery hours in schools reflects a change to the way we record delivery hours, which means that these data are not directly comparable between 2024-25 and previous years. Overall, our Education Team’s delivery hours in 2024-25 are equivalent to delivering 3 full days per week during the school year. These delivery activities continued to include in-depth programmes such as Believe to Achieve and Pathways for Success. Through these programmes, pupils participated in multiple group-based and one-to-one activities over the course of the academic year, which helped them to strengthen their soft skills, exposed them to workplace environments, and developed their employability skills.

Delivery in schools

Actual FY23/24 Actual FY24/25
Schools 26 26
Pupils 2,933 2,430
Delivery hours 874 751*

*Due to a change in the way we record and report delivery hours for our Schools activity, the FY24/25 total is not directly comparable with previous years.

Page 8

MAKING THE LEAP

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

In 2024-25, our delivery in schools included the following:

Volunteers:

In 2024-25, 672 people volunteered their time and support a range of programme activity for young adults and school pupils.

Actual FY23/24 Actual FY24/25
No. of Volunteers 597 672

PLANS FOR FUTURE PERIODS

The trustees of Making The Leap approved a new organisational strategic plan that would begin in the year 2023-2024 and run through to 2027-2028.

The summary of that plan is:

Our Mission:

Our mission is to transform the futures of disadvantaged young people in the UK by providing training to raise their aspirations and develop their skills, behaviours and attitudes to choose and succeed in a career. We work directly with young people from deprived backgrounds in London, and we aim to increase our reach and impact through replicating our model with partners nationwide. We use what we learn in our delivery operations to raise awareness of the importance of social mobility among UK businesses & organisations and encourage them to take action to improve it.

Our Vision:

Every young person in our country will have the chance to succeed; and every company, organisation and institution will have a part to play in making it happen.

Page 9

(A Company Limited by Guarantee)

MAKING THE LEAP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

STRATEGIC AIMS

We have aligned the organisation’s activities with our vision and we have four strategic aims, which will define the way we will operate for the next five years. Underpinning our priorities are a number of goals that will be used both as a guide and a measurement towards the fulfilling of our aims.

Strategic Aim 1 – To Provide Our Users and Partners with The Highest Standard of Service by Adopting Best Practice in All We Do

Goal 1

We will leverage our increased cash reserves to invest in a digital transformation of our organisation to further enhance the efficiency and effectiveness of how we work.

Goal 2

We will continue to invest in training and development opportunities for our staff and work towards them being fully engaged and empowered to provide the highest service standards.

Goal 3

We will avail ourselves of external professional expertise, where we don’t have it internally, to enable us to achieve best practice in all areas.

Goal 4

We will commit to continuous improvement by regularly reviewing our operational processes and evaluating what we do.

Goal 5

We will constantly review the programmes we deliver to ensure that they are the most effective way of meeting the needs of our young people.

Goal 6

We will develop and implement a quality framework for all our delivery to ensure it remains of the highest possible standard.

Strategic Aim 2 – To Increase the Number of People we Reach through Our Programmes

Goal 1

We will increase the number of people we directly deliver programmes to in London.

Goal 2

We will increase the number of corporate partners and deepen relationships with existing ones to give us the resources to do the work that we do.

Goal 3

We will implement a strategy for nationwide delivery of our programmes via partners.

Goal 4

We will develop and identify new programmes to fill the needs-gap of those we serve.

Page 10

MAKING THE LEAP (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic Aim 3 – To Further Enhance our Standing to Give us the Leverage to Increase the Importance of Social Mobility within All Sectors and Employers

Goal 1

We will continue to increase our brand awareness to ensure our message is consistently and increasingly shared with external audiences about the work we do, the impact we are having on young people from deprived backgrounds and social mobility in the UK.

Goal 2

We will build on the success of the UK Social Mobility Awards and its spin-off initiatives (the Social Mobility Business Seminar, the Social Mobility Podcast and Social Mobility Day).

Goal 3

We will develop new social justice advocacy initiatives that place us in a position of leadership in the charity sector.

Goal 4

We will build on our internal research expertise and the relevant data that we amass, to produce content that provides the evidence that encourages action to further equality.

Strategic Aim 4 – To Further Improve Our Financial Sustainability to Provide a Platform to Achieve Our Ambitions

Goal 1

We will build on our success since 2019 by both further diversifying and increasing our overall income, to ensure we continue to maintain our financial sustainability and invest into developing our organisation to be fit for the future workplace.

Goal 2

Strengthening the balance sheet by demolishing Harriet Tubman House and Hazel Road Community Centre and replacing them with a custom-built training centre, community centre and Making The Leap offices that will be a hub for young people for decades to come.

AUDITOR

Our auditor Peters Elworthy and Moore transferred their audit registration and therefore that part of their business to a newly incorporated limited company, PEM Audit Limited, on 1 September 2025. Accordingly, Peters Elworthy and Moore ceased to be the Company's auditor with the Directors duly appointing PEM Audit Limited to fill the vacancy arising.

Page 11

(A Company Limited by Guarantee)

MAKING THE LEAP

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The Trustees (who are also the 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 (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial period. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with with Companies Act 2006. They 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.

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Approved by order of the members of the board of Trustees and signed on their behalf by:

Ms E Canavan Trustee

Date:

Page 12

(A Company Limited by Guarantee)

MAKING THE LEAP

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAKING THE LEAP

OPINION

We have audited the financial statements of Making the Leap (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is 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).

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 13

MAKING THE LEAP

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAKING THE LEAP (CONTINUED)

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Page 14

MAKING THE LEAP

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAKING THE LEAP (CONTINUED)

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

As a result of the above risk assessment procedures we identified the greatest risk of material misstatement on the financial statements arising from irregularities and fraud to be within the potential for management to override controls together with the risk of fraudulent revenue recognition. We considered the risk of fraudulent revenue recognition to be most prevalent in the cut-off of revenue. In response to these identified risks, we designed procedures which included, but were not limited to:

Page 15

MAKING THE LEAP

(A Company Limited by Guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF MAKING THE LEAP (CONTINUED)

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Nikki Loan (Senior Statutory Auditor) for and on behalf of PEM Audit Limited Registered Auditors Salisbury House Station Road Cambridge CB1 2LA

Date:

Page 16

MAKING THE LEAP

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
INCOME FROM:
Donations and legacies
4
Charitable activities
5
Investments
6
TOTAL INCOME
EXPENDITURE ON:
Raising funds
7
Charitable activities
8
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement in funds
TOTAL FUNDS CARRIED FORWARD		 Restricted
funds
2025
£
244,962
-
-
244,962
-
291,762
291,762
(46,800)
46,800
(46,800)
-		 Unrestricted
funds
2025
£
323,104
981,054
23,723
1,327,881
288,303
1,404,611
1,692,914
(365,033)
1,721,299
(365,033)
1,356,266		 Total
funds
2025
£
568,066
981,054
23,723
1,572,843
288,303
1,696,373
1,984,676
(411,833)
1,768,099
(411,833)
1,356,266		 Total
funds
2024
£
742,251
897,740
16,903
1,656,894
207,097
1,639,039
1,846,136
(189,242)
1,957,341
(189,242)
1,768,099

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 20 to 36 form part of these financial statements.

Page 17

MAKING THE LEAP (A Company Limited by Guarantee) REGISTERED NUMBER: 03162045

BALANCE SHEET AS AT 31 MARCH 2025

Note
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one
year
16
NET CURRENT ASSETS
NET ASSETS
CHARITY FUNDS
Restricted funds
Unrestricted funds
TOTAL FUNDS		 181,369
833,416
1,014,785
(190,324)		 2025
£
531,805
531,805
824,461
1,356,266
-
1,356,266
1,356,266		 175,362
1,213,951
1,389,313
(173,662)		 2024
£
552,448
552,448
1,215,651
1,768,099
46,800
1,721,299
1,768,099

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Ms E Canavan Trustee

Date:

The notes on pages 20 to 36 form part of these financial statements.

Page 18

MAKING THE LEAP

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash used in operating activities
19
CASH FLOWS FROM INVESTING ACTIVITIES
Dividends, interests and rents from investments
Purchase of tangible fixed assets
NET CASH PROVIDED BY INVESTING ACTIVITIES
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR
Cash and cash equivalents at the beginning of the year
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR
20
The notes on pages 20 to 36 form part of these financial statements		 2025
£
(402,676)
23,723
(1,582)
22,141
(380,535)
1,213,951
833,416		 2024
£
(240,451)
16,903
(2,500)
14,403
(226,048)
1,439,999
1,213,951

Page 19

MAKING THE LEAP (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

Making The Leap (the "Charity") is a private company limited by guarantee and incorporated in England and Wales. Its registered office is Harriet Tubman House, Hazel Road, Kensal Green, London, NW10 5PP.

Its functional and presentational currency is GBP.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

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 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Making the Leap 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.

2.2 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

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 a set 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 investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.3 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Page 20

MAKING THE LEAP

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

2.3 EXPENDITURE (CONTINUED)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Governance costs are those incurred in conncection with administration of the charity and compliance with constitutional and statutory requirements.

All expenditure is inclusive of irrecoverable VAT.

2.4 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property - 2%
Fixtures and fittings - 33%
Office equipment - 25%

2.5 DEBTORS

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.6 CASH AT BANK AND IN HAND

Cash at bank and 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.

2.7 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

Page 21

MAKING THE LEAP

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES (CONTINUED)

2.8 FINANCIAL INSTRUMENTS

The Charity 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 measured at amortised cost using the effective interest method.

2.9 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.10 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.

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

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.

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical accounting estimates and assumptions:

Management is assessing the feasilbility of a new building project and has incurred costs during the year (as set out in note 10) relating to that preparation. These early stage costs have been expensed as the viability of the project has not yet been confirmed.

Page 22

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. INCOME FROM DONATIONS AND LEGACIES

Grants and Donations
Grants and Donations
5.
INCOME FROM CHARITABLE ACTIVITIES
Generated income SOMOs
Other generated income
Generated income SOMOs
Other generated income		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
244,962
323,104
Restricted
funds
2024
Unrestricted
funds
2024
£
£
465,328
276,923
Unrestricted
funds
2025
£
806,651
174,403
981,054
Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
686,353
190,980
20,407
190,980
706,760		 Total
funds
2025
£
568,066
Total
funds
2024
£
742,251
Total
funds
2025
£
806,651
174,403
981,054
Total
funds
2024
£
686,353
211,387
897,740

Page 23

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. INVESTMENT INCOME

Unrestricted
funds
2025
£
Rental income - Community Centre
6,914
Investment income - bank interest
16,809
23,723
Unrestricted
funds
2024
£
Rental income - Community Centre
2,363
Investment income - bank interest
14,540
16,903		 Total
funds
2025
£
6,914
16,809
23,723
Total
funds
2024
£
2,363
14,540
16,903

Page 24

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. EXPENDITURE ON RAISING FUNDS

COSTS OF RAISING VOLUNTARY INCOME

Unrestricted
funds
2025
£
SOMOs
269,540
Fundraising
18,763
288,303
Unrestricted
funds
2024
£
SOMOs
201,310
Fundraising
5,787
207,097		 Total
funds
2025
£
269,540
18,763
288,303
Total
funds
2024
£
201,310
5,787
207,097

Page 25

MAKING THE LEAP

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Summary by fund type

Wages and salaries
National insurance
Pension cost
Event costs
Staff recruitment and subsistence
Maintenance
Utilities
Project costs
Other costs
Governance costs
Wages and salaries
National insurance
Pension cost
Event costs
Staff recruitment and subsistence
Maintenance
Utilities
Project costs
Other costs
Governance costs		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
139,639
915,120
15,134
98,473
11,501
95,571
23,611
-
12,187
-
17,956
-
2,144
-
30,351
-
39,239
248,090
-
47,357
291,762
1,404,611
Restricted
funds
2024
Unrestricted
funds
2024
£
£
478,133
531,336
52,147
58,214
53,164
50,118
9,128
-
14,040
-
17,832
-
2,446
-
87,302
-
37,399
198,584
-
49,196
751,591
887,448		 Total
2025
£
1,054,759
113,607
107,072
23,611
12,187
17,956
2,144
30,351
287,329
47,357
1,696,373
Total
2024
£
1,009,469
110,361
103,282
9,128
14,040
17,832
2,446
87,302
235,983
49,196
1,639,039

Page 26

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Wages and salaries
National insurance
Pension cost
Event costs
Staff recruitment and subsistence
Maintenance
Utilities
Project costs
Support costs
Governance costs		 Activities
undertaken
directly
2025
£
851,900
89,306
70,168
23,611
12,187
17,956
2,144
30,351
-
-
1,097,623		 Support
costs
2025
£
202,859
24,301
36,904
-
-
-
-
-
287,329
47,357
598,750		 Total
funds
2025
£
1,054,759
113,607
107,072
23,611
12,187
17,956
2,144
30,351
287,329
47,357
1,696,373
Wages and salaries
National insurance
Pension cost
Event costs
Staff recruitment and subsistence
Maintenance
Utilities
Project costs
Support costs
Governance costs		 Activities
undertaken
directly
2024
£
864,648
94,301
96,141
9,128
14,040
17,832
2,446
87,302
-
-
1,185,838		 Support
costs
2024
£
144,821
16,060
7,141
-
-
-
-
-
235,983
49,196
453,201		 Total
funds
2024
£
1,009,469
110,361
103,282
9,128
14,040
17,832
2,446
87,302
235,983
49,196
1,639,039

Page 27

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. SUPPORT COSTS

Wages and salaries
National insurance
Pension cost
Utilities
Telephone
Printing, postage and stationery
Storage costs
Computer costs
Premises insurance
Consultancy costs
Subscriptions
Other costs
Building expenditure
Governance costs		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
-
202,859
-
24,301
-
36,904
4,679
-
7,783
-
4,835
-
12,660
-
9,282
-
-
8,533
-
18,559
-
18,361
-
17,002
-
185,635
-
47,357
39,239
559,511		 Total
funds
2025
£
202,859
24,301
36,904
4,679
7,783
4,835
12,660
9,282
8,533
18,559
18,361
17,002
185,635
47,357
598,750

Page 28

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Restricted
funds
2024
£
Wages and salaries
-
National insurance
-
Pension cost
-
Utilities
4,591
Telephone
6,296
Printing, postage and stationery
3,976
Storage costs
11,446
Computer costs
5,516
Premises insurance
-
Consultancy costs
-
Subscriptions
-
Other costs
-
Building expenditure
-
Governance costs
-
31,825
11.
AUDITOR'S REMUNERATION
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above
12.
STAFF COSTS
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Unrestricted
funds
2024
£
144,821
16,060
7,141
-
-
-
-
-
7,231
25,125
29,896
21,890
120,016
49,196
421,376
2025
£
16,100
3,400
2025
£
1,054,759
116,627
107,072
1,278,458		 Total
funds
2024
£
144,821
16,060
7,141
4,591
6,296
3,976
11,446
5,516
7,231
25,125
29,896
21,890
120,016
49,196
453,201
2024
£
15,250
3,240
2024
£
1,009,469
110,361
103,282
1,223,112

Page 29

MAKING THE LEAP

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

12. STAFF COSTS (CONTINUED)

The average number of persons employed by the Charity during the year was as follows:

Senior Management
Training
Corporate Partnerships
Support
Management, Admin & Finance
Development
Engagement
Education Partnerships		 2025
No.
3
5
1
1
5
3
4
2
24		 2024
No.
2
7
1
-
4
4
3
2
23

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2025 2024
No. No.
In the band £70,001 - £80,000 - 1
In the band £80,001 - £90,000 1 -
In the band £90,001 - £100,000 - 1
In the band £100,001 - £110,000 1 -

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Charity. They consist of the Chief Executive and the Operations Director. The aggregate cost of Key Management Remuneration was £253,576 (2024 - £237,611).

13. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 30

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 April 2024
Additions
Disposals
At 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Freehold
property
£
712,337
-
-
712,337
168,258
14,247
-
182,505
529,832
544,079		 Fixtures and
fittings
£
6,070
-
-
6,070
4,186
1,574
-
5,760
310
1,884		 Office
equipment
£
28,006
1,582
(12,896)
16,692
21,521
3,518
(10,010)
15,029
1,663
6,485		 Total
£
746,413
1,582
(12,896)
735,099
193,965
19,339
(10,010)
203,294
531,805
552,448

Page 31

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. DEBTORS

Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
111,688
3,213
66,468
181,369		 2024
£
58,737
-
116,625
175,362

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Resources deferred during the year		 2025
£
50,394
28,265
23,930
87,735
190,324
2025
£
62,500		 2024
£
105,481
23,988
20,531
23,662
173,662
2024
£
-

Deferred income at the year end relates to monies received in advance for ongoing projects which have not met the criteria for revenue recognition.

Page 32

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. SUMMARY OF FUNDS

SUMMARY OF FUNDS - CURRENT YEAR

General funds
Restricted funds
SUMMARY OF FUNDS - PRIOR YEAR
General funds
Restricted funds		 Balance at
1 April
2024
£
1,721,299
46,800
1,768,099
Balance at
1 April
2023
£
1,815,258
142,083
1,957,341		 Income
£
1,327,881
244,962
1,572,843
Income
£
1,000,586
656,308
1,656,894		 Expenditure
£
(1,692,914)
(291,762)
(1,984,676)
Expenditure
£
(1,094,545)
(751,591)
(1,846,136)		 Balance at
31 March
2025
£
1,356,266
-
1,356,266
Balance at
31 March
2024
£
1,721,299
46,800
1,768,099

Restricted funds relate to funds received for specific programmes during the year. The funds relating to programmes yet to be completed are carried forward at the year end. These funds relate to the following programmes run by the Charity:

Page 33

MAKING THE LEAP

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Tangible fixed assets
Current assets
Creditors due within one year
TOTAL		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
-
531,805
19,167
995,618
(19,167)
(171,157)
-
1,356,266		 Total
funds
2025
£
531,805
1,014,785
(190,324)
1,356,266

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Tangible fixed assets
Current assets
Creditors due within one year
TOTAL		 Restricted
funds
2024
£
-
46,800
-
46,800		 Unrestricted
funds
2024
£
552,448
1,342,513
(173,662)
1,721,299		 Total
funds
2024
£
552,448
1,389,313
(173,662)
1,768,099

Page 34

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net expenditure for the year (as per Statement of Financial Activities)
ADJUSTMENTS FOR:
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
(Increase) in debtors
Increase in creditors
NET CASH USED IN OPERATING ACTIVITIES
20.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS
21.
ANALYSIS OF CHANGES IN NET DEBT
At 1 April
2024
£
Cash at bank and in hand
1,213,951
1,213,951		 FROM OPERATING
2025
2024
£
£
(411,833)
(189,242)
19,339
21,424
(23,723)
(16,903)
2,886
-
(6,007)
(148,413)
16,662
92,683
(402,676)
(240,451)
2025
2024
£
£
833,416
1,213,951
833,416
1,213,951
Cash flows
At 31 March
2025
£
£
(380,535)
833,416
(380,535)
833,416

Page 35

(A Company Limited by Guarantee)

MAKING THE LEAP

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

22. PENSION COMMITMENTS

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. The pension cost charge represents contributions payable by the Charity to the fund and contribution of £13,721 (2024 - £13,218) were payable to the fund at the balance sheet date and are included in creditors.

23. RELATED PARTY TRANSACTIONS

The Charity has not entered into any related party transaction during the year (2024 - None), nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025 (2024 - none).

During the year 2 Trustees (2024 - 2) made donations towards the SOMO Awards amounting to contributions of £2,251 (2024 - £1,190). During the the year 2 Trustees (2024 - 2) made donations towards fundraising efforts the Charity put on amounting to £13,536 (2024 - £13,843).

Page 36