• ASDAN
Company registration number: 03426251
Charity registration number: 1066927
ASDAN
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2025

ASDAN
Contents
Reference and Administrative Details
Strategic Report
Trustees' Report
Independent Auditors' Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes to the Financial Statements
2 to 3
4 to 14
15 to 24
25 to 28
29
30
31
32 to 49
1| Page

« ASDAN
Reference and Administrative Details
Trustees
RP Boxer (Chair of Trustees) (to 31 March 2025)
B S Doidge (Vice-Chair to 31 March 2025, Chair of Trustees from
1 April 2025)
M T Curran (to 4 December 2024)
JA Diwell
V A FitzGerald
JP Hancock
EM Hogan
J Kaur
K Parasuram
JE Price (to 4 December 2024)
P A Scholey (to 23 May 2024)
D Smart
S L Harrison (appointed 4 December 2024)
D M Parker (appointed 4 December 2024)
Senior Management /
Leadership Team
M Farnham, Chief Executive Officer (appointed 10 June 2024)
J Williams, Chief Executive Officer (to 9 June 2024)
G Palmer, Director of Finance and Resources (to 24 May 2024)
J Foyle, Director of Operations
Z Elder, Associate Director - Professional Learning and Innovation
L Harvey, Director of Infrastructure and Finance (appointed 1
February 2025)
Company Registration Number 03426251
Charity Registration Number
1066927
Solicitors
Harper James Solicitors
Velocity Tower, 1 St Mary's Square
2| Page

• ASDAN
Bankers
Auditor
Investment Manager
Sheffield
S1 4LP
HSBC Bank
4th Floor, 3 Temple Quay
Bristol
BS1 6DZ
Triodos
Deanery Road,
Bristol
BS1 5AS
ML Audit LLP
Statutory Auditors
Freshford House
Redeliffe Way
Bristol
BS1 6NL
Investec Wealth and Investment Ltd
Midland House
2 Poole Road
Bournemouth
BH2 5QY
3| Page

« ASDAN
Strategic Report for the Year Ended 31 March 2025
Foreword
Brian Doidge, Chair of Trustees
We are pleased to present our annual report for 2024/25.
This report is set within a financial year, which was very much an interchange for ASDAN. Within
the 2024/25 reporting period, we saw our board move from a post pandemic stance, which by
necessity was a more cautious strategic approach, that was rooted in stability and caution, to a
more ambitious disposition. The first half year, very much saw us taking stock and considering
our options and needs. The second half was more about our preparation for growth. Here our
reach, relevance and profile, emerged as key priorities.
Within this context, I am extremely grateful to the exemplary leadership shown by our previous
chair Rik Boxer, who very much helped to set the tone and vision for the new direction with the
board. Rik's considered and balanced approach, coupled with his depth of understanding and
good nature, were invaluable. Rik moves on with our thanks and best wishes. I am also very
grateful to our outgoing CEO Jenny Williams and our incoming CEO Melissa Farnham. Their
cooperation throughout the highly professional and effective handover was very smooth and
effective. I also echo the comments that Rik made in our previous report and wish Jenny every
success and happiness as she moves into her next chapter.
This report confirms how our focus on affordability, suitability and cost benefit justification,
coupled with sound financial management procedures, have once again helped us to deliver a
stable financial position. It continues to be a time of change and a time for investment for ASDAN.
We are setting ourselves up for growth and developing a digital and physical infrastructure, in
meich we i base as we work tolect ray to, take ducation inclusive and impact, continues.
membership base,
to be a core focus too. Deepening our partnerships and becoming ever more outwardly focused,
emerged as key priorities in 24-25 and will continue into 2025-26 and beyond. We have much to
look forward to.
4| Page

* ASDAN
Introduction
Melissa Farnham, CEO
2024-25 has been my first year as Chief Executive of ASDAN. It has been a year of both
consolidation and renewal, as we celebrate the achievements of our learners while also
delivering significant developments that position ASDAN strongly for the future.
We are delighted to report 52,470 achievements across our programmes and regulated
qualifications. Each of these represents the hard work of learners and the dedication of our
members. There has been growing engagement across ASDAN's global community which has
allowed us to review our positioning.
This year has seen the initiation of the development of a new suite of courses and qualifications.
Designed to align with the ASDAN DNA and our commitment to inclusivity, practical learning
and preparation for life. These new products represent a bold step forward in refreshing our
offer to meet the needs of diverse learners across the UK and internationally.
A landmark investment has also been made in a digital learning platform, marking a step
change as we move from print to online delivery. This will ensure ASDAN remains agile and
responsive to learners' needs, while supporting members with workloads that are consistent
with other awarding organisations. It will also secure the sustainability and accessibility of our
resources for years to come.
In addition, our professional learning community has matured into a network of specialist
interest groups (SIGs). These groups provide focus and clarity, ensuring that we concentrate
our efforts on what we should do to deliver impact, and equally on what we should not do. This
disciplined approach ensures innovation is aligned with our mission and resources are deployed
where they make the most difference.
We are mindful that in a challenging environment for the education and charity sectors in the
UK, our ability to hold onto the conviction that our work is making a difference remains an
important public benefit. As part of honouring this commitment, we have recognised the seven
key poverties that shape the lives of many young people. We have undertaken significant
5| Page

« ASDAN
internal work to secure our track and purpose, ensuring that our strategy and operations remain
firmly aligned to this challenge. In turn, this has strengthened ASDAN's position within the
sector, reinforcing our role as a mission-driven, modern awarding organisation committed to
tackling barriers to learning and opportunity.
Alongside this, the creation of PAD (People, Activities and Development) has strengthened our
ability to invest in our workforce, expand charitable activities beyond membership, and develop
our products and research base. These steps represent the repositioning of ASDAN as a
modern, forward-looking awarding organisation with renewed clarity of purpose.
The care and commitment of the ASDAN team continues to be an inspiration. It is a privilege to
lead such a professional and dedicated team as we secure a sustainable future for this very
special charity.
Overview of performance April 2024 to March 2025
It was identified that in last year's accounts the reporting period was incorrect, which resulted in
understated figures surrounding data on learners with the strategic report. These have now
been corrected and restated in this report. The financial information reported last year remains
accurate and has been restated.
Between April 2024 and March 2025, ASDAN recognised the achievements of 52,470
learners-an increase of almost 4,000 compared with the restated figures for the previous year.
ASDAN's income remained strong, exceeding the £3m threshold once again and reaching just
over £3.38m, which is £172k higher than last year.
There was a slight shift in the balance of learner achievements compared with 2023-24. In
2024-25, qualifications accounted for 15% of achievements and programmes for 85%,
compared with 19% and 81% respectively in the previous year.
3.1 Learner achievement
3.1.1 Qualifications
Overall, qualifications have increased in 2024-25, which is a very positive outcome. In addition,
the reduction in Unit-Only achievements is encouraging, as it indicates a shift towards full
qualification completions and fewer learners stopping at unit level.
6| Page

ASDAN
With the exception of Level 1 qualifications, there have been modest increases across all areas.
Importantly, this progress has been achieved despite lower registration numbers, influenced by
the transition to the upcoming PEQ suite. The previous offer has now been phased out, and we
anticipate growth once the new suite is launched.
These results have also been delivered in the context of ongoing challenges, particularly the
policy to de-fund post-16 qualifications in England, which in recent years has contributed to the
decline in Level 2 achievements.
Learners' achievements: All
Learners achieving ASDAN regulated
qualifications at Entry Level 1-3
Learners achieving ASDAN regulated
qualifications at Level 1
Learners achieving ASDAN regulated
qualifications at Level 2
Learners achieving ASDAN regulated
qualifications at Level 3
Full qualification total
Unit Only
Total
April 24-
Mar 25
Apr 23-
Mar 24
3,372
3,353
1,353
1,375
1,407
948
1,278
863
7080
961
8,041
6,869
1,470
8,339
Apr 22-
Mar 23
3,472
1,487
2,180
786
7,925
1,561
9,486
3.1.2 Programmes
Learner achievement across ASDAN's range of accredited and non-accredited programmes
continues to grow. Over 5,500 more learners (fourteen per cent) achieved a programmes
outcome in 2024-25.
Learners' achievements
Apr 24 - Mar
25
Apr 23 - Mar
Apr 22 - Mar
24
23
Learners achieving ASDAN
programmes
44,476
38,929
34,930
7|Page

" ASDAN
Accredited programmes (Preparing for Adulthood, Personal Development Programmes and My
Independence) achievement accounted for 20 per cent of overall programmes achievement.
Thes 3 courses represented around 8.600 learners, although this was a slight decrease from
2023-24. The main reason for this reduction was Preparing for Adulthood which showed a
reduction of just under 500 learners for 2024-25.
Learners' achievements
Apr 24-Mar
25
Apr 23-Mar
24
Apr 22- Mar
23
Learners achieving ASDAN accredited
programmes
8,677
8,954
8,379
Accredited programmes-Preparing for Adulthood, Personal Development Programmes and My
Independence-accounted for 20% of total programme achievements. Together, these three
courses represented around 8,600 learners, reflecting a slight decrease compared with 2023-
24. The reduction was primarily driven by Preparing for Adulthood, which saw just under 500
fewer learners in 2024-25.
Learners' achievements
Apr 24- Mar 25
Apr 23- Mar 24
Apr 22- Mar 23
Learners achieving ASDAN non-
accredited programmes
35,799
29,975
26,551
Lifeskills Challenge, our dedicated online platform for SEND learners and those facing barriers
to learning (spanning pre-Entry to Level 3), continues to perform strongly. It accounted for
almost 17% of non-accredited programme achievements, with over 3,500 learners achieving an
outcome-an increase of 13% on the previous year.
Our Short Courses Online offer also saw significant growth, with more than double the number
of learners achieving outcomes compared with the previous year. While these currently
represent just 4% of total Short Course outcomes, their strong performance highlights clear
potential for future expansion and will form part of our development plans.
In addition, Short Courses Online remained popular, with almost 3,000 learners registered in the
year—an increase of more than 10% from 2023-24. There was, however, a reduction in
8 Page

ASDAN
Awards. This is likely a timing effect, reflecting lower registrations in a prior year, as these
courses can take up to three years to complete.
3.1.3 International
Almost 30% more international learners achieved an accredited programme outcome compared
with the previous year. Although this increase was not as large as in 2023-24, accredited
programme outcomes still rose by 9%. While SEND learners remain a key focus, there is also
increasing engagement with groups such as gifted and talented learners. International
Programmes Plus continues to deliver strong participation.
Qualification achievements at Entry Level 1 to Level 2 remain low, as only a limited number of
international centres are permitted to deliver ASDAN qualifications. However, significant growth
has been recorded at Level 3, driven by increased uptake of ASDAN's Extended Project
Qualification (EPQ) among learners in China, as well as delivery at the John Gray School in the
Cayman Islands.
Learners' achievements:
International
Learners achieving ASDAN
accredited programmes
Learners achieving ASDAN regulated
qualifications at Entry Level 1-3
Learners achieving ASDAN regulated
qualifications at Level 1
Learners achieving ASDAN regulated
qualifications at Level 2
Learners achieving ASDAN regulated
qualifications at Level 3
Apr 24- Mar
25
19,101
17
Apr 23- Mar
24
17,603
14
Apr 22 - Mar
23
12,149
35
9
52
809
6
62
786
28
100
672
9| Page

• ASDAN
3.2 Membership
After a net loss of 100 centres in 2034-24, we recorded a net gain of 6 centres in 2024-25.
Domestically, qualifications remain the most popular membership tier accounting for 30% of
centres, with Programmes and Programmes Plus each also representing 30%. Customised
membership has declined to 35 centres, making up just 1% of total UK membership.
International membership has decreased proportionally this year, now representing 7% of total
membership. Within this, International Programmes Plus remains the strongest offer,
accounting for 6% of total membership.
2024-25
2023-24
2022-23
Registered centres in
membership
3,423
3,417
3,521
We have streamlined the leavers process by removing a manual step in the recording system
and aligning each centre's leaving date with the effective date of their endorsement. This
provides a more accurate and consistent view of both current and historic centres.
3.3 Training
Following a reduction in delegates last year, 2024-25 increased, although did not quite reach
the levels of 2022-23.
At nearly 300 delegates more than the prior year, this is partly down to the mandatory training
required for Qualifications (particularly training for IQA).
Delegates trained
2024-25
1,535
2023-24
1,266
2022-23
1,699
In addition to this increase, feedback has been positive with over 97 per cent of delegates
feeding back to us that they considered the training good or excellent.
Other particularly popular training courses include Short courses, CoPE and LifeSkills
challenges, making up a third of total delegates between them.
10 | Page

ASDAN
Attendance and satisfaction in webinars remain strong, with attendee numbers aligning with the
Impact report. New opportunities have been developed, including a webinar focused on the
assessment of ASDAN qualifications, while on-demand training for assessment planning is
being finalised and a further webinar is in preparation, concentrating on internal quality
assurance for ASDAN programmes.
Support and networking opportunities for ASDAN courses also continue to be provided through
both in-person meetings and online sessions. Further work is underway to introduce a
programme of Special Interest Groups as a member benefit, offering practitioners opportunities
to develop broader educational understanding and skills.
4. Strategic priorities
ASDAN's refreshed strategic plan sets out a path to 2027 focused on five core pillars:
Awareness and Reputation, Products and Partnerships, Operational Effectiveness, Teamwork
and Collaboration, and Significant Impact and Sustainable Performance. Each of these pillars
informs our work on product development, membership, professional learning, and
organisational innovation.
4.1 Product - Products and Partnerships
2024-25 has seen major progress in refreshing our product portfolio. The development of a new
suite of courses and qualifications, aligned to the ASDAN DNA, has been a defining
achievement. These new offers provide coherent learner pathways and ensure relevance to
diverse learner needs across the UK and internationally.
A landmark step has been the investment in a digital learning platform, which will shift ASDAN's
delivery model from print to online. This will enhance accessibility and agility, reduce
administrative burden for centres, and align ASDAN's offer with sector standards.
We have also advanced sector-focused developments including re-development of ASDAN's
signature qualifications in personal effectiveness, expansion of programmes for care leavers
and learners in EOTAS (Education Other Than at School), and preparation for post-16 reforms.
International partnerships have also grown, particularly in the UAE, Australia, and British and
American international schools.
4.2 Membership - Awareness and Reputation
11| Page

ASDAN
Membership continues to be the gateway to ASDAN's qualifications, programmes, and courses.
In 2024-25, we have worked to review the model and are preparing to re launch the impact if
this for 2026
Plans are in place to review the membership model in 2025-26, ensuring it reflects the
changing education landscape and the needs of our professional learning community. Through
this, we are building coherent and focused member propositions that will raise ASDAN's profile
and deepen engagement.
4.3 Professional Learning Community - Teamwork and Collaboration
Our work to establish a professional learning community (PLC) has developed significantly in
2024-25. Rather than remaining broad and diffuse, the model has evolved into a series of
specialist interest groups (SIGs). These groups provide structured opportunities for
collaboration, allowing us to concentrate expertise where it can have the greatest impact.
The SIGs focus on priority areas of product development, pedagogy, assessment, and member
support. They are helping ASDAN to establish greater clarity on what we should do to deliver
value, and equally on what we should not do, ensuring resources are deployed strategically and
efficiently.
Through these SIGs, members and staff have co-created new resources, contributed to the
development of our digital platform, and provided sector insights that inform decision-making.
This more disciplined approach strengthens collaboration while ensuring that innovation is
purposeful, sustainable, and aligned to ASDAN's mission.
4.4 Our people, learning and innovation - Operational Effectiveness & Sustainable
Performance
Our staff remain at the heart of ASDAN's success. In 2024-25, we launched PAD (People,
Activities and Development), a framework that secures:
- investment in our workforce, supporting skills, wellbeing, and career development;
- expansion of charitable activities beyond membership;
- product and research development to ensure future relevance and evidence-based practice.
We have continued to invest in our people through organisational learning programmes,
coaching opportunities, and the popular 'Love to Learn' fund. Our Knowledge and Insights Hub
has further developed as a central resource for sector intelligence and shared learning.
12| Page

ASDAN
Trustees have also advanced their skills audit and continuous improvement programme, with
equality, diversity and inclusion set as a priority for 2025-26.
Outlook
Looking ahead, our priorities will focus on embedding the new suite of qualifications, fully
implementing the digital platform, and strengthening the role of specialist interest groups in
guiding product development and member support. These three levers will be central to
ASDAN's ability to adapt quickly, remain relevant, and deliver measurable impact for learners.
In addition, we have prepared Wainbrook House to go to market and initiated a review of our
business needs alongside a premises search. This work will ensure that ASDAN's operational
base is aligned with our long-term strategy and supports our growth.
ASDAN enters the next year with renewed clarity of purpose, a modernised infrastructure, and a
commitment to delivering inclusive, high-quality education that equips learners with the skills
and confidence they need to thrive.
5. Risk
Trustees continue to monitor the dynamics of the educational, political and international
environment in which ASDAN operates in order to monitor our strategic risks. They make
evidence-informed decisions about investments of reserves and opportunities to expand our
business and have positive impacts on a greater number of learners.
Trustees regularly review the strategic risk register and believe they have identified the major
risks to ASDAN. As an awarding organisation, our risk registers are also mapped across the
regulator's General Conditions of Recognition.
Risks are mitigated in a variety of ways including the provision of insurance, monitoring and
reporting, making financial provisions, and through the development of contingency plans.
ASDAN's PARC (Performance, Audit, Risk and Compliance) Committee, a sub-group of the
Board of Trustees led by the vice-chair, takes the lead on reviewing and scrutinising new and
existing risks, reporting back updates and recommendations to the main Board.
13| Page

ASDAN
6. Finance and supporting services
ASDAN continued to be financially stable in 2024-25. Income increased again to £3.38m
leading to an unrestricted net surplus of £23k. In the year ASDAN invested previously
designated funds into innovation activities and the digital learning platform, which resulted in an
overall deficit of £355k. The investment made in ASDAN's future is expected to grow the
charity's reach and impact in 2026-27.
As we look ahead to 2025-26 we should expect another year heavy on investment into the
future with new products and in particular the new learning platform launching. Refining our
arrangement with SEED and exploring other international opportunities should also contribute to
this ambitious phase of ASDAN with the end goal being to extend our reach to as many learners
as possible, whilst also focusing in on the charitable objectives.
14| Page

3
ASDAN
ASDAN
Trustees' Report (including Directors' Report) for the Year Ended 31 March 2025
The trustees, who are directors for the purposes of company law, present the annual report
together with the financial statements and auditors' report of the charitable company for the year
ended 31 March 2025.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of
Association and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with
FRS102.
1. Objects
ASDAN's aim is the advancement of education, by providing opportunities for all learners to
develop their personal and social attributes and levels of achievement through the use and
attainment of ASDAN resources and awards and the relief of poverty, where poverty inhibits such
opportunities for learners.
2. Structure, governance and management
ASDAN is a charitable company limited by guarantee, incorporated on 28 August 1997 and
registered as a charity on 17 December 1997.
The charitable company was formed under a memorandum of association which established the
objectives and powers of the charitable company and it is governed under its articles of
association. These were revised in March 2004 and in September 2016.
The charity's board of trustees has a minimum number of three individuals. Although not stated
in the memorandum and articles of association, the preferred maximum number of individuals is
set at twelve but trustees agree this could be expanded to fourteen to allow for succession
planning in recruiting further Trustees with the necessary skills and expertise. The existing
members of the board appoint new trustees.
The chair and vice chair review the mix of skills among the trustees, identify gaps and undertake
recruitment where necessary, particularly in newer strategy areas. When filling vacancies, the
board takes into account the experience needed to maintain the board's ability to effectively direct
the full range of the charity's activities. The board arranges appropriate induction for any new
15 | Page

ASDAN
trustee. Inductions involve tailored meetings with key trustees and staff, and review of key
documentation. Trustees undertake an ongoing training programme covering current subjects,
delivered by subject matter experts with opportunities for discussion.
The Board of Trustees meets at least four times a year.
Trustees include education specialists with representation from across the sector, as well as
representatives from a range of industries, with both commercial and charitable experience.
Our Chair of Trustees, Brian is a post graduate qualified Chartered Manager and Chartered
Marketer, who holds Fellowships from the Chartered Management Institute, Chartered Institute
of Marketing and the Institute of Leadership. An accomplished chair, with and employment
history that included experience within senior roles in commerce, academia and governance.
3. Changes to Trustees
There were six changes to the composition of the Board of Trustees between 1 April 2024 and
31 March 2025:
• Peter Scholey resigned from the board on 23 May 2024
• David Parker joined the board on 4 December 2024
• Steven Harrison joined the board on 4 December 2024
• Marian Curran resigned from the board on 4 December 2024
• Jack Price resigned from the board on 4 December 2024
• Rik Boxer resigned from the board on 31 March 2025
A further Trustee resigned after the year end:
• Jaswinder Kaur resigned from the board on 9 October 2025
3.1 Board of Trustees
The charity's trustees at the date these financial statements were approved and those who served
as a trustee in the financial period ended 31 March 2025 are as follows:
Rik Boxer (Chair)**
(Resigned on 31 March 2025)
Education Consultant, former Deputy Director of
Children's Services, Executive Coach
16 | Page

V
• ASDAN
Brian Doidge (Vice-Chair)* **
(Chair from 1 April 2025)
Marian Curran**
Jamie Diwell***
Victoria FitzGerald* **
(Vice-chair from 1 April 2025)
Jemma Hancock*****
Steven Harrison*
Elsa Hogan* ** ***
Jaswinder Kaur** ***
Dr Kala Parasuram (Dr Kala
Parasuram Shrikanth)* **
Lecturer, Yeovil College. Examiner, Chartered
Institute of Marketing, Chair of Governors,
Barwick and Stoford Community Primary
School. Fellow, Chartered Institute of Marketing.
Principal, St Brendan's Sixth Form College.
Trustee, Quantock Education Trust. Council
Member, Sixth Form Colleges Association.
Member, Trust in Learning
Education Manager, A Wilderness Way
Director and Financial Consultant, Briarsmead
Ltd
Head of Organisational Development and
Culture, Great Western Railway. Chartered
Fellow, Chartered Institute of Personnel and
Development
Founder and Director, Eos Insights Ltd. Trustee,
Wealden Citizens Advice. Trustee, Citizens
Advice East Sussex. Associate, Chartered
Institute of Management Accounts. Associate,
International Coaching Federation. Associate,
European Mentoring and Coaching Council
Vice President, Rolls-Royce Defence (Fleet and
Operations Executive to June 2024). Company
Director, The Marvellous HMO. Company
Director, Elsa Hogan Ltd. Trustee, West of
England Aerospace Forum
Head Teacher, Snowields Academy (Leigh
Academy Trust). Trustee, National Association
for Advancing Autism Education
Senior Manager Equity and Inclusive Education,
International Baccalaureate
17| Page

• ASDAN
Dr David Parker***
Jack Price* **
Peter Scholey**
Dr Dean Smart* ** ***
Retired specialist in special education and
vocational learning
Managing Director for Screening at Citation
Group (from January 2024). Previously
Managing Director of Computershare
Communications Services Europe Middle East
and Africa
Former secondary school Headteacher, Local
Authority Officer and Education Consultant
Senior Lecturer, School of Education and
Childhood, University of the West of England,
Bristol. Trustee, Bristol Area Quaker Meeting
(Religious Society of Friends/related combined
registered charities). Governor, Holymead
Primary School
* Members of the Performance, Audit, Risk and Compliance Committee
** Members of the Education Forum (last meeting 24 May 2024)
*** Members of the People and Development Committee
3.2 Key Management Personnel
The key management personnel (as defined by FRS 102) are the trustees and the senior
management of the charity. The senior management of the charity (to whom the responsibility for
the planning, directing and controlling of the activities of the charity has been delegated by
trustees) have been as follows during the financial period: the previous Chief Executive Officer,
Jenny Williams (left June 2024), the current Chief Executive Officer (started June 2024);
Operations Director, James Foyle; Finance and Resources Director, Gillian Palmer (Left May
2024); Director of Infrastructure and Finance, Louise Harvey (started February 2025) and
Associate Director - Professional Learning and Innovation, Zoë Elder. The directors deputise for
the Chief Executive Officer where appropriate. A scheme of delegation is in place to confirm the
responsibilities devolved to the Chief Executive Officer and directors by the board of trustees. The
18 | Page

ASDAN
pay and remuneration of key management personnel is set by the trustees, benchmarked against
posts being recruited locally for similar roles.
Trustees regularly review their performance against the Charity Code of Governance. Trustees
engaged in a review of board arrangements in 2022-23 and an action plan was approved. The
following actions have been completed:
• Trustees and directors' self-evaluation against the Charity Governance Code autumn 2023
• Development of a prioritised action plan following the self-evaluation
Provision of a charity finance and governance training session for trustees
• Identification of approaches to developing trustees' knowledge and understanding of
ASDAN
• Formation of a search committee to lead the recruitment of a new CEO, now appointed
• Development of CEO board reporting to including education sector landscape
developments and the impact of changing political context
• Introduction of a programme on annual trustee visits to ASDAN's centres to understand
the charitable impact of ASDAN
• Trustees' attendance at ASDAN's whole organisation learning days
• Implementation of a trustee access to the governance section on ASDAN SharePoint
system including access to policies and meetings records
Planned actions for 2025-26 include:
• Equality, Diversity and Inclusion development, building on the preliminary action plan
established in 2023-24
• Further identification of individual trustee training requirements
• A further review of the board's performance against the updated Charity Governance Code
anticipated later in 2025
4. Delivering Public Benefit
We continue to pursue our charitable objective:
'ASDAN's aim is the advancement of education, by providing opportunities for all learners to
develop their personal and social attributes and levels of achievement through the use and
19 | Page

ASDAN
attainment of ASDAN resources and awards and the relief of poverty, where poverty inhibits such
opportunities for learners'.
Trustees have referred to the guidance from the Charity Commission on public benefit when
reviewing the charity's strategic and business plans and budget.
Our mission is to engage, inspire and empower young people facing the greatest challenges,
helping them to develop the personal and social skills, qualities and confidence they need to
thrive. In 2024-25, we supported the achievements of more than 44,000 learners across the UK
and internationally.
Over the course of 2024-25, we are delivering on our education strategy in response to the
declining uptake of qualifications and programmes in the UK. Trustees remain focused on:
• redeveloping the personal effectiveness, independent living and employability skills at the
heart of ASDAN's offer;
• reaching learners with diverse needs through inclusive pedagogy that benefits all;
• designing courses rooted in clear education and assessment principles that genuinely
engage and empower;
• creating a coherent suite of products and learning pathways, supported by professional
learning;
• meeting the needs of learners across mainstream and special schools, alternative
provision, community and informal settings; and
• providing an integrated framework of programmes and qualifications that recognise and
reward progress and achievement.
This strategic direction is supported by investment from reserves in research and development,
enabling the redevelopment of ASDAN's flagship qualifications in personal effectiveness and
preparing for forthcoming reforms to post-16 personal, social and employability qualifications. Our
refreshed strategic plan sets ambitious priorities, aiming to reach 48,000 learners by 2027.
At the same time, ASDAN continues to deliver public benefit by championing:
• the provision of engaging, motivating and accessible programmes and qualifications,
particularly for learners aged 11-25 with diverse needs, beyond what is otherwise
available;
• opportunities for young people to build connections and solidarity, helping to reduce
inequalities and promote fairer social outcomes;
• evidence from case studies, surveys and evaluations showing that ASDAN courses re-
engage learners in education and support their progression into further study, work and
independent living;
• the importance of personal, social and employability skills, recognising that:
20 | Page

ASDAN
• they are especially effective in re-engaging young people most in need;
• they underpin success in academic and vocational learning;
• they are critical for entry-level employment;
• they support progression into lifelong learning at work; and
• they give learners the confidence and qualities to live well and realise their potential.
5. Reserves Policy
As at 31 March 2025, general (uncommitted) funds were £4.47m (2024 - £4.45m), designated
funds were E118k (2024 - £497k). However, £1.7m of the general funds represent tangible assets
and property in the balance sheet, leaving £2.8m of free reserves (2024 - £2.75m).
Our prudent reserves policy is to maintain an accessible financial contingency reserve of £750k
plus the level of costs which would be required in the unlikely event of a decision to voluntarily
wind up the company, which as at 31 March 2025 we estimated to be £601k.
The trustees are confident that the £2.8m reserves level is sufficient for current and proposed
levels of activity. Holding £1.45m of reserves over and above the baseline reserves policy of
£1.35m enables the Trustees to prudently and confidently plan ahead to invest in the development
of new and updated products in order to address the existing and emerging needs of those facing
educational and social inequality. Financial plans have been put in place to support investment in
renewing our courses for students, our professional development for teachers, and our overall
profile. We have also planned to invest in a digital learning platform and in preparing the
Wainbrook site ready to market. This makes sure ASDAN is on a course towards stronger ongoing
profitability in the coming years so that the charity can face the future with confidence and support
our members to engage, elevate and empower more young people in need.
In line with best practice guidance, the trustees review the reserves policy every year.
6. Investment Policy and Performance
A total of £1.15m (2024 - £0.86m) is held in business and charity deposit accounts earning
between 0.01% and 4.69% interest within the period.
We invest in a managed fund utilising ethical screening. At the end of March 2024 our
investment was valued at £2.2m. The investment income for this fund was £34k, and
realised and unrealised profits were £55k. At 31 March 2025 the valuation of this fund had
increased to £2.28m.
21| Page

ASDAN
The charity's PARC committee monitors the performance of the invested assets using defined
criteria, taking ethical considerations into account. The equity and cash asset allocations are
counterbalanced by the sizeable investment property holdings.
7. Staff
We have a paid workforce of 55 full time equivalent staff (2024 - 51), who are based mainly in
Bristol but also across the UK. The work of the charity is based on the professionalism and
dedication of a committed, hard working group of colleagues, together with our extended team of
external quality assurers and contractors. Our members continue to inspire us all.
ASDAN continues to strive to be an exemplary employer, providing a safe, healthy and creative
working environment to encourage learning and innovation.
We have continued to focus on strengthening our communication and culture. The staff learning
days continue to be vital in supporting our colleagues whilst also imparting the aim and impact
of the organisation. We continued to run the Love to Learn scheme as a means of enabling staff
to develop skills outside of the workplace, unrelated to their roles. Work has been undertaken to
bring Wainbrook House to a position in which it can be sold, and we are tentatively seeking new
headquarters to ensure staff have a working environment that is fit for purpose and future
proofed.
8. Fundraising
ASDAN currently only fundraises for the charity through grant-making institutions, gifts,
companies and commercial trading. ASDAN adheres to the fundraising code of practice. For the
year to 31 March 2025 ASDAN received no complaints in relation to its fundraising activities. Via
written policies and training, staff receive guidance regarding Data Protection (including GDPR
and safeguarding.
9. Statement of Trustee Responsibilities
The trustees (who are also the directors of ASDAN for the purposes of company law) are
responsible for preparing the trustees' report and the financial statements in accordance with the
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice) and applicable law and regulations.
22| Page

ASDAN
Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company 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:
•
select suitable accounting policies and apply them consistently;
•
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
•
state whether applicable UK Accounting Standards 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 charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show
and explain the charitable company's transactions and disclose with reasonable accuracy at any
time the financial position of the charitable company and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the
assets of the charitable company 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 governing the preparation
and dissemination of financial statements may differ from legislation in other jurisdictions.
10. Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make
themselves aware of any relevant audit information and to establish that the charity's auditor is
aware of that information. The trustees confirm that there is no relevant information that they know
of and of which they know the auditor is unaware.
11. Reappointment of auditor
ML Audit LLP have indicated their willingness to continue in office and, in accordance with the
provisions of the Companies Act, it is proposed that they be reappointed auditors for the ensuing
year.
23 | Page

ASDAN
The annual report was approved by the trustees of the charity on 23/to/2-and signed on its behalf
by:.
BS Doidge (Chair of Trustees)
Trustee
24| Page

ASDAN
Independent Auditor's Report to the Members of ASDAN
Opinion
We have audited the financial statements of ASDAN (the 'charity') for the year ended 31 March
2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash
Flows, and Notes to the Financial Statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is United
Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its
incoming resources and application of resources, including its income and expenditure, for
the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
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 responsibilities for the audit of the financial statements section of our report. We are
independent of the charity in accordance with the ethical requirements that are relevant to our
audit of the financial statements in the UK, including the FRC'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
charity's ability to continue as a going concern for a period of at least twelve months from when
the financial statements were 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.
25 | Page

ASDAN
Other information
The trustees are responsible for the other information. The other information comprises the
information included in the trustees'
annual report, other than the financial statements and our
auditor's report thereon. 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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be
materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether there is a material misstatement in the
financial statements or a material misstatement of the other information. 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 matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the Strategic Report and Trustees' Report for the financial year for
which the financial statements are prepared is consistent with the financial statements; and
• the Strategic Report and Trustees' Report have been prepared in accordance with
applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in
the course of the audit, we have not identified material misstatements in the Strategic Report
and the Trustees' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006
requires us to report to you if, in our opinion:
• adequate accounting records have not been kept, or returns adequate for our audit have
not been received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of trustees remuneration specified by law are not made; or
26| Page

ASDAN
• we have not received all the information and explanations we require for our audit; or
• the trustees were not entitled to prepare the financial statements in accordance with the
small companies' regime and to take advantage of the small companies' exemption in
preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Statements of trustees' responsibilities (set out on page 23), 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.
In preparing the financial statements, the trustees are responsible for assessing the charity'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 charity or to cease operations, or have no realistic alternative but to do so.
Auditor 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.
In identifying and assessing risks of material misstatement in respect of irregularities, including
fraud, the audit engagement team:
• obtained an understanding of the nature of the industry and sector, including the legal
and regulatory framework that the company operates in and how the charitable
company is complying with the legal and regulatory framework;
• inquired of management, and those charged with governance, about their own
identification and assessment of the risks or irregularities, including known and actual,
suspected or alleged instances of fraud;
27 | Page

ASDAN
discussed matters about non-compliance with laws and regulations and how fraud
might occur including assessment of how and where the financial statements may
be susceptible to fraud.
However, it is the primary responsibility of management, with the oversight of those charged
with governance, to ensure that the entity's operations are conducted in accordance with the
provisions of laws and regulations and for the prevention and detection of fraud.
A further description of our responsibilities for the audit of the financial statements is located on
the Financial Reporting Council's website at: http://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.
ML Audit up
Tim Lerwill FCA, BFP (Senior Statutory Auditor)
For and on behalf of ML Audit LLP, Statutory Auditor
Freshford House
Redcliffe Way
Bristol
BS1 6NL
Date:....
24/10/25
28 | Page

" ASDAN
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account)
Note
Unrestricted
Income and Endowments from:
Charitable activities
Investment income
Other income
Total income
Expenditure on:
Charitable activities
Total expenditure
Gains on investment assets
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
5
10
15
3,239,089
134,468
11,309
3,384,866
(3,416,216)_
(3,416,216)
54,550
23,200
-
23,200
4,454,643
4,477,843
There were no other gains or losses other than those stated above.
All of the charity's activities derive from continuing operations.
Designated
funds
:
(378,459)
(378,459)
378,459)
Year ended
2025
3,239,089
134,468
11,309
3,384,866
(3,794,675)
(3,794,675)
54,550
(355,259)
(378,459)
496,927
118,468
(355,259)
4,951,570
4.596,311
Year ended
2024
€
3,086,822
111,388
13,877
3,212,087
(2,992,783)
(2,992,783)
671,592
890,896
=
890,896
4,060,674
4,951,570
The notes on pages 33 to 50 form an integral part of these financial statements
29 | Page

« ASDAN
(Registration number: 03426251)
Balance Sheet as at 31 March 2025
2025
Note
Fixed assets
Tangible assets
Investment properties
Listed investments
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year
Net current assets
Net assets
Funds of the charity:
Unrestricted income funds
General Funds
Designated funds
Total funds
9
10
10
11
12
13
15
627,207
1,042,500
2,279,405
3,949,112
113,929
224,280
1,457,521
1,756,464
(1,148,531)
647,199
4,596,311
4,477,843
118,468
4,596,311
The financial statements on pages 30 to 50 were approved by the trustees, and authorised for issue on
.22/le125 and signed on their behalf by:
2024
€
660,941
1,042,500
2,214,773
3,918,214
118,159
290,117
1,548,023
1,956,299
(922,943)
1,033,356
4,951,570
4,454,643
496,927
4,951,570
S Doidge (Chair of Trustees
Trustee
The notes on pages 33 to 50 form an integral part of these financial statements
30 | Page

ASDAN
Statement of Cash Flows for the Year Ended 31 March 2025
Cash flows from operating activities
Net cash income/(expenditure)
Adjustments to cash flows from non-cash items
Depreciation
Profit on sale of fixed asset
Investment income
Revaluation of investments
Working capital adjustments
Increase in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
Purchase of tangible fixed assets
Sales proceeds of tangible fixed assets
Purchase of investments
Sale of investments
Net cash flows from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March
Note
9
4
10
13
4
9
10
10
31 March
2025
€
(355,259)
41,297
-
(134,468)
(48,537)
(496,967)
4,230
65,838
225,587
201,312
134,468
(7,563)
-
(410,706)
394,611
110,811
(90,502)
1,548,023
1,457,521
All of the cash flows are derived from continuing operations during the above two periods
31 March
2024
338,396
42,283
(491)
(111,388)
(119,865)
148,935
(30,764)
165,538
(52,588)
231,121
111,388
(35,631)
3,289
(588,683)
584,943
75,306
306,427
1,241,596
1,548,023
31 | Page

ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charity status
The charity is incorporated in England and Wales as a company limited by guarantee, and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the
charity in the event of liquidation.
The address of its registered office is:
Wainbrook House
Hudds Vale Road
St George
Bristol
BS5 7HY
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These
policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS
102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies
Basis of preparation
ASDAN meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at
historical cost or transaction value as modified for certain fixed assets as well as certain financial assets and liabilities
as stated in the relevant accounting policy notes.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has
adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to
adopt the going concern basis of accounting in preparing the financial statements.
Income and endowments
All income is included in the statement of financial activities when the charity is entitled to the income, the receipt is
probable, and the amount can be measured with sufficient reliability.
Monies received from training organisations are accounted for by the charity when receivable.
Where income is received specifically for expenditure in a future accounting period, that amount is deferred.
Investment income is accounted for on an accrual basis.
32| Page

ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable
settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure
heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings,
they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on a percentage of income.
All resources expended are inclusive of irrecoverable VAT.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for
its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect
nature necessary to support them.
Support costs
Support costs include central functions and have been allocated to activity cost categories based on a percentage of
income.
Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory requirements,
including audit, strategic management and trustees' meetings and reimbursed expenses. These have been allocated
to charitable activities.
Taxation
The charity is exempt from corporation tax to the extent that any other income or gains are applied in furtherance of
the charitable objectives.
Tangible fixed assets
Tangible fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated
depreciation and subseauent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual
value, over their expected useful economic life as follows:
Asset class
Freehold land and buildings
Fixtures and fittings
Computer equipment
Depreciation method and rate
2% straight line
20% straight line
20-33% straight line
33 | Page

ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whethe
there is any indication that those assets have suffered an impairment loss. If such an indication exists, the
recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Investment properties
Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined when deemed necessary by the trustees, who appoint external valuers accordingly. The valuers use
observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific
asset. Changes in fair value are recognised through the Statement of Financial Activities. Where the change in market
value is assessed by the trustees to be insignificant to the carrying value, no changes are made.
Fixed asset investments
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on
investments are calculated as the difference between sales proceeds and their market value at the start of the year,
or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the period and are credited or charged
to the Statement of Financial Activities based on the market value at the period end.
Stock
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell (NRV), after due regard
for obsolete and slow moving stocks. Cost is determined using the first-in, first-out basis (FIFO).
Trade debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid.
Financial assets are impaired when there is objective evidence that, as a result of one or more events that occurred
after the initial recognition of the financial asset, the estimated future cash flow have been affected. The impairment
loss is recognised in the Statement of Financial Activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments
that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
mory hange estiments
Trade creditors
Trade creditors are recognised where the charity has a present obligation resulting from a past event that will probably
34 | Page

ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary
assets and liabilities denominated in foreign currencies at the balance sheet date are reported at the rates of
exchange prevailing at that date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the
objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Pensions and other post retirement obligations
The charity contributes towards a defined contribution scheme for certain employees and the costs charged in the
financial statements represent the contributions payable by the charity during the period. The scheme assets are
separately administered from the charity.
Certain staff employed by the charity are eligible for membership with the Teachers' Pension Scheme (TPS), which
is now closed to new entrants. This is a multi-employer defined benefit scheme for which insufficient information is
available to enable the charity to identify its share of scheme assets and liabilities. Consequently, contributions to
the scheme are treated as if they were made to a defined contribution plan.
Redundancy pay
Redundancy pay is recognised immediately as an expense when the charity can demonstrate its commitment to
terminate the employment of an employee or to provide termination benefits in accordance with contractual
arrangements. Payments are calculated in accordance with statutory redundancy guidelines published by HM
Government.
Other employee benefits
The cost of any unused holiday entitlement is recognised as an expense in the period in which the employees service
is received.
35 | Page

JV
• ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
3 Income from charitable activities
Customer support
Accreditation
Publishing & development
Promotional activities
Year ended
2025
€
1,368,989
923,779
623,134
323,187
3,239,089
Year ended
2024
1,378,481
869,815
533,341
305,185
3,086,822
All income recognised within this classification in the current and preceding financial period is accounted for in
unrestricted funds.
4 Investment income
Interest receivable and similar income
Income from rents
Year ended
2025
€
71,228
63,240
134,468
Year ended
2024
41,639
69,749
111,388
All income recognised within this classification in the current and preceding financial period is accounted for in
unrestricted funds.
36| Page

÷ ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Expenditure on charitable activities
Customer and centre support
Premises and publications
Marketing and communications
Property development and maintenance
Management and admin
Information technology
Design and product development
Sales and relationship management
Future investment in innovation (includes £143k staff costs)
PSE development funds
Unrestricted funds
Designated
General
200,889
385,245
539,383
43.583
:
-
331,886
2,890
378,459
189,779
384,410
467,340
226,000
523,170
:
3,416,216
Customer and centre support
Accreditation
Premises and publications
Marketing and communications
Property development and maintenance
Management and admin
Information technology
Design and product development
Sales and relationship management
Future investment in innovation (includes £104k staff
Investment in Future Products
Unrestricted funds
Designated
General
€
146,612
248,544
543,377
7,257
160,517
-
728,031
429,788
165,821
450,897
109,179
2,760
119,196
2,873,587
Year ended
31 March
2025
200,889
385,245
539,383
189,779
43,683
884,410
467,340
226,000
523,170
331,886
2,890
3,794,675
Year ended
31 March
2024
€
146,612
248,544
543,377
160,517
7,257
728,031
429,788
165,821
450,897
109,179
2,760
2,992,783
37 | Page

• ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Staff costs
Depreciation
Training
Computer and IT costs
Communications
Premises
Legal & professional
Insurance
Basis
A
A
B
B
B
B
B
B
Other management and
admin
Post, stationery and admin
Audit and accounting
A
Basis of allocation
Reference
Method of allocation
A
% of income
Directly attributable
Governance
Year ended
costs Support costs
2025
-
2,190,692
2,190,692
41,697
41,697
11,367
11,367
166,034
166,034
61,171
61,171
98,849
98,849
27,829
27,829
27,031
27,031
65.718
65,718
211,357
211,357
22,734
2.901,345
22,734
2,924,079
6 Net incoming resources
Net incoming/(outgoing) resources for the year include:
Year ended
2024
€
1,894,112
42,283
10,757
140,487
55,704
74,835
25,656
24,103
37,202
113,771
15,465
2,434,375
Year ended
31 March
2025
41,297
22,734
Year ended
31 March
2024
E
42,283
15,465
Depreciation of fixed assets
Fees payable to the charitable company's auditor - Audit
7 Trustees' remuneration and expenses
During the year the charity made the following transactions with trustees:
£2,221 (2024: £1,419) of expenses were reimbursed to 5(2024: 5) trustees during the year.
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
38 | Page

= ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
8 Staff costs
The aggregate payroll costs were as follows:
Year ended
31 March
2025
€
Year ended
31 March
2024
€
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
1,865,658
193,255
89,897
2,148,810
1,677,780
170,292
149,806
1,997,878
During the year, 3 members of staff (2024 - 0) received £39,817 ex gratia in termination payments (2024 ENil) in
compensation for loss of office.
The monthly average number of persons (including senior management team) employed by the charity during the
year expressed as full time equivalents was as follows:
Customer and centre support
Management and admin
Design and product development
Information technology
Premises and publishing
Accreditation
Marketing and communication
Sales and relationship management
Year ended
31 March
2025
No
7
12
4
4
3
9
4
12
55
Year ended
31 March
2024
No
6
12
3
4
4
8
4
10
51
The number of employees whose annualised emoluments fell within the following bands was:
£60,001 - £70,000
£70,001 - £80,000
£80,001 - £90,000
£90,001 - £100,000
Year ended
31 March
2025
No
1
2
:
Year ended
31 March
2024
No
1
2
1
39 | Page

• ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
During the year, remuneration to key management personnel amounted to £261,296 (2024 - £273,773).
The trustees consider that key management personnel comprise of:
• Chief Executive Officer
• Director of Finance and Resources
• Director of Membership and Marketing
• Associate Director of Professional Learning & Innovation
• Director of Infrastructure and Finance
Contributions totalling £23,758 (2024 - £61,592) were made to defined contribution pension schemes on
behalf of employees whose emoluments exceed £60,000.
9 Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
Computer
equipment
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Disposals
Charge for the period
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
862,608
:
862,608
133,234
:
133,234
307,358
7,563
315,101
250,688
128,719
17,252
267,940
1,462
130,181
263,032
-
22,583
285,615
594,668
611,920
3,053
4,515
29,486
44,506
Total
€
1,303,380
7,563
1,310,943
642,439
41,297
683,736
627,207
660,941
40 | Page

' ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
10 Fixed asset investments
Investment properties
Listed investments
31 March
2025
€
1,042,500
2,279,405
3,321,905
31 March
2024
1,042,500
2,214,773
3,257,273
Investment properties
cost or Valuatio
pening balance at 1 April 202
Revaluation
Closing balance at 31 March 2025
Investment
propertios
1,042,500
1,042,500
Net book value
At 31 March 2025
At 31 March 2024
1,042,500
1,042,500
The investment property is included in the balance sheet at the fair value as at 31 March 2025. The fair value was
arrived at on the basis of a valuation carried on 23 July 2024 by Charlie Kershaw, MRICS, on behalf of Burston Cook.
Listed investments
Total
Cost or Valuation
At 1 April 2024
Revaluation
Movements on the cash investment in the portfolio
Additions
Disposals
At 31 March 2025
2,214,773
54,550
(6,013)
410,706
(394,611)
2,279,405
41| Page

: ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
2,279,405
2,214,773
The historic cost of investments at 31 March 2025 amounted to £2,045,584 (2024 £1,960,217).
The fair value of the investment portfolio was determined using quoted market prices. Included within the valuatior
of the portfolio was a cash balance of £13,957 at the year end (2024 - £19,970).
Investments held, exceeding 4% of the portfolio value at 31 March 2025, comprise of:
Current value
- UK(Govt of) 0.5% ds 31/01/2029 GBP1000
- UK(Govt of) 1% Bds 31/01/2032 GBP1000
- Invesco Physical Secured Gold Lkd Nts 31/12/
144,845
97,147
95,432
%
6.25
4.26
4.19
11 Debtors
Trade debtors
Prepayments and accrued income
Trade debtors are stated after provision for impairment of £16,362 (2024 £25,581).
2025
€
169,846
54,434
224,280
2024
242,390
47,727
290,117
12 Cash and cash equivalents
Cash on hand
Cash at bank
2025
-
1,457,521
1,457,521
2024
€
132
1,547,891
1,548,023
42| Page

3Via
« ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
13 Creditors: amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals
Deferred income
2025
€
125,325
63,630
67,400
41,326
850,850
1,148,531
2024
€
80,123
3,492
25,253
55,994
758,081
922,943
Deferred income at 1 April 2024
Resources deferred in the period
Amounts released from previous periods
Deferred income at 31 March 2025
2025
758,082
923,254
(830,485)
850,850
2024
€
762,218
857,584
(861,720)
758,082
14 Pension obligations
The employees of the charity belong to two principle pension schemes: The Teachers' Pension Scheme, a multi-
employer defined benefit scheme, for academic and related staff; and an independently administered defined
contributory pension scheme.
There were no outstanding or prepaid contributions at either the beginning or the end of the financial period in respect
of the independently administered defined contributory pension scheme.
43 Page

• ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Teachers' Pension Scheme
The Teachers' Pension Scheme (TPS) is a statutory, contributory, defined benefit scheme, governed by the
Teachers' Pension Scheme Regulations 2014. Membership is automatic for teachers in academy trusts. All
teachers have the option to opt-out of the TPS following enrolment.
The TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of
salary - these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public
Valuation of the Teachers' Pension Scheme
The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in
accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by
HM Treasury every 4 years. The aim of the review is to ensure scheme costs are recognised and managed
appropriately and the review specifies the level of future contributions.
Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and
many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2020. The valuation
report was published by the Department for Education on 27 October 2023, with the SCAPE rate, set by HMT,
applying a notional investment return based on 1.7% above the rate of CPI. The key elements of the valuation
outcome are:
Employer contribution rates set at 28.68% of pensionable pay (including a 0.08% administration levy). This
is an increase of 5% in employer contributions and the cost control result is such that no change in
member benefits is needed. Employer contribution rates during the year to 31 March 2025 were 23.68% of
•
Total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service
to the effective date of £262,000 million and notional assets (estimated future contributions together with
the notional investments held at the valuation date) of £222,200 million, giving a notional past service
deficit of £39,800 million
The result of this valuation will be implemented from 1 April 2024. The next valuation result is due to be
implemented from 1 April 2027.
The employers pension costs paid to TPS in the period amounted to £44,106 (2024 - £27,846).
A copy of the valuation report and supporting documentation is on the Teachers' Pensions website.
44| Page

• ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
15 Funds
Balance at 1
April 2024
Incoming
resources
Resources
expended
Other
recognised
Transfers gains/(losses)
Unrestricted funds
General
General funds
Designated
Financial assistance fund
Property development and maintenance fund
Research and development fund
Professional Learning Communities fund
PSE qualification fund
New Phone system fund
Future investment in innovation
Total funds
4,454,643
42,450
43,683
14,089
5,010
2,890
744
388,061
496,927
4,951,570
3,384,866
3,384,866
(3,416,524)
(43,683)
(2.890)
(331,886)
(378,459)
(3,794,983)
54,858
54,858
Balance at 31
March 2025
4,477,843
42,450
14,089
5,010
744
56,175
118,468
4,596,311
45| Page

ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Balance at 1
April 2023
Incoming
resources
Resources
expended
Other
recognised
Transfers gains/(losses)
Unrestricted funds
General
General funds
Designated
Financial assistance fund
Property development and maintenance fund
Research and development fund
Professional Learning Communities fund
PSE qualification fund
New Phone system fund
Future investment in innovation
Investment in Future Products
Total funds
3,994,551
42,450
940
14,089
5,010
2,890
744
3,212,087
(2,873,587)
(7,257)
(550,000)
50.000
671,592
66,123
4,060,674
3,212,087
(109,179)
(2,760)
(119,196)
(2,992,783)
500,000
550,000
671,592
Balance at 31
March 2024
4,454,643
42,450
43,683
14,089
5,010
2,890
744
390,821
(2,760)
496,927
4,951,570
46| Page

ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
Unrestricted funds
Unrestricted funds include all funds received and expended in the furtherance of the charity's objects.
Designated funds
The funds of the charity include the following designated funds which have been set aside out of unrestricted
funds by the trustees for specific purposes. All designated funds, with the exception of the financial assistance
fund, are expected to be expended within the next 12 months.
Digital strategy fund
Designated for the development of online resources and to increase capacity in order to remain current with
new technologies.
Financial assistance fund
Designated to enhance provision for students following ASDAN programs and qualifications.
Property development and maintenance fund
Designated to provide a fund for major repairs as and when necessary to Wainbrook House (formerly known
as the property improvement fund).
Research and development fund
Designated to fund major development of ASDAN products and services (formerly known as the development
PSE qualification development fund
Designated for the development of a new qualification that launched in September 2021.
Professional Learning Communities fund
Designated for the design and creation of professional learning communities, for the co-creation of future
products and services to fulfil the needs of learners.
Development and improvement of systems funds
The new phone system fund, the new finance system fund and the transition to outsourcing of printing activity
fund are all examples of funds set aside for the strengthening of our core systems.
Future investment in innovation
Designated to fund future innovation and to enhance professional learning communities.
nvestment in Future Products
Designated to fund design and creation of future products
47 | Page

* ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
16 Analysis of net assets between funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
17 Analysis of net funds
Unrestricted funds
General
Designated
€
627,207
3,321,905
1,637,996
(1,109,265)
118,468
4,477,843
118,468
Unrestricted funds
General
Designated
660,941
3,257,273
1,459,372
(922,943)
4,454,643
-
496,927
Cash at bank and in hand
Net funds / (debt)
Cash at bank and in hand
Net funds / (debt)
Financing cash
At 1 April 2024
flows
1,548,023
(90,502)
1,548,023
(90,502)
At 1 April 2023
handing not,
1,241,595
306,428
1,241,595
306,428
Total funds at
31 March
2025
€
627,207
3,321,905
1,756,464
(1,109,265)
4,596,311
Total funds at
31 March
2024
660,941
3,257,273
1,956,299
(922,943)
4,951,570
At 31 March
2025
€
1,457,521
1.457,521
At 31 March
2024
€
1,548,023
1,548,023
48| Page

• ASDAN
Notes to the Financial Statements for the Year Ended 31 March 2025
18 No related party transactions
The charity received income from charitable activities of £Nil (2024 - ENil) from entities connected to the
trustees through employment or similar governance roles.
None of the trustees concerned were in a position to personally benefit from the transactions, which arose
under a normal business relationship.
The charity incurred expenditure on charitable activities of ENil (2024 - ENil) from activities connected to the
trustees through employment or similar governance roles. Related parties were connected to trustees of the
charity through employment or similar governance roles. Of these amounts, included within trade creditors at
the period end was ENil (2024 - ENil).
None of the trustees concerned were in a position to personally benefit from the transactions, which arose
under a normal business relationship.
19 Financial instruments
Categorisation of financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Listed investments measured at fair value
Carrying amount of financial liabilities
Liabilities measured at amortised cost
2025
169,846
2,279,405
217,089
2024
242,390
2,214,773
140,146
49 | Page