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2023-12-31-accounts

Company registration number: 03503533 Charity registration number: 1070500

Family Education Trust

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2023

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Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB

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Family Education Trust

Contents

Reference and Administrative Details 1

Trustees' Report 2to6 Independent Examiner's Report 7 to8 | Statement of Financial Activities 9 | Balance Sheet 10 | Notes to the Financial Statements 11 to 21 | |

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Family Education Trust

Reference and Administrative Details

Chairman Stephen Balogh Trustees Stephen Balogh Sarah Carter Philip Crabtree Martin Doe Ezra Kanyimo Julie Maxwell Tony Rucinski Treasurer Philip Crabtree Charity Registration Number 1070500 Company Registration Number 03503533 The charity is incorporated in England & Wales. Registered Office 7 Bell Yard London WC2A 2JR Independent Examiner Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB

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Family Education Trust

Trustees' Report

The Trustees have pleasure in presenting their report and financial statements for the year ended 31 December 2023. The accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the Charity’s Memorandum and Articles of Association, the Companies Act 2006 and the Statement of Recommended Practice, “Accounting and Reporting by Charities”, issued in 2014, for small entities.

Structure, Governance and Management

The Charity is incorporated as a company limited by guarantee with a Memorandum and Articles of Association.

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The Trustees during the year are listed on the preceding page.

All Trustees are members of the Company but have no beneficial interest.

Trustees are elected at the Annual General Meeting of the Company and may serve for three years without being re-elected.

The Trustees meet once every quarter and receive reports from the Chairman, Director, who as a member of staff is responsible for the day to day running of the Charity, and from the Honorary Treasurer. There is one other member of staff — a communications and public relations officer.

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There are no connected charities.

The Trustees have reviewed the risks facing the Charity and taken appropriate steps to ensure that the effects of the occurrence of any risk are mitigated or eliminated.

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Chair’s Report

This is the first Annual Report & Accounts | as Chair have the responsibility and privilege of presenting for Family Education Trust (FET). In doing so, my first task is to offer thanks on behalf of the entire organisation to several people who have provided leadership, inspiration and sheer hard graft in bringing FET’s fact-based research and findings for public benefit over the years. Amongst them are my predecessors in the role of Chair of Trustees, Arthur Cornell and Julie Maxwell. Arthur, together with fellow Trustees Gillian White and James Eaton (who was also Treasurer), has now stepped down as Trustees, with recent Trustee appointees Philip Crabtree (incoming Treasurer), Ezra Kanyimo and Tony Rucinski now bringing their own experience to bear for FET alongside Julie Maxwell, Sarah Carter, Martin Doe and myself.

| would also like to thank Piers Shepherd for his long-standing service as Senior Researcher, and our more recently arrived team members, Peter D. Williams (Director) and Lucy Marsh (Comms & PR Officer}.

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Whilst this feels very much like a changing of the guard at FET, we strongly believe there is an essential continuity between the challenges society faces now and those of the five-and-more decades of FET and its predecessor organisations: the under-appreciation of the role of families and parents in our society; the introduction of contentious notions freighted with adverse consequences, whether intended or unintended; the battle of ideas for what childhood is or should be for flourishing of the next generation, Whilst undergoing a period of modernisation of its infrastructure, its research capacity and its ways of communicating, FET will continue to hold fast to its core focus on fact and empirically based research and publication of its findings.

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Family Education Trust

Trustees' Report

Finally, we are deeply grateful to all those many supporters who have shown their commitment to FET over many years, and sometimes decades, whether financially, with volunteering or in helping spread the word about what we do. We need more than ever to work closely together as we rise to the challenges of the years ahead.

Objectives and Activities

The principal objects of the Charity are:

  1. To establish, carry out and promote research into the family founded on marriage and to publish and disseminate information and data obtained therefrom.

  2. To establish, carry out and promote research into the social, medical and psychological consequences of sexual behaviour and to publish and disseminate the information and data obtained therefrom.

The Annual General Meeting and Conference featured addresses by Mr Harry Miller on ‘The Threat to Free Speech & How to Combat It’ and Mrs Louise Perry on ‘The Case Against The Sexual Revolution’. Video recordings of both addresses have been made available online.

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The Trust continued to monitor trends in society affecting the family and the welfare of children and young people. During the course of the year, the Trust responded to several consultations and inquiries, including:

January - NICE Equality Consultation - Clinical Guideline NG140 - Abortion care

April - Human Fertilisation and Embryology Authority consultation on Fertility Treatment Regulation and Embryo Research April Education For 11-16 Year Olds Committee’s Call For Evidence On Education For 11-16 Year Olds

May - Lucy was invited to give evidence to the Women and Equalities Committee on 10th May on the subject of the Department for Education’s review of inappropriate RHSE materials in schools.

In June, Lucy travelled to Belfast to speak at a conference on classroom sex education organised by long standing FET supporter Mary Russell, with broadcaster and priest Calvin Robinson and Coalition for Marriage director Tony Rucinski also speaking at the event. The Northern Ireland government planned to introduce mandatory sex education in schools from September 2023 and there is a growing movement of parents and grandparents objecting to the sexualisation of their children. The conference was attended by over 100 people and the Trust was asked to help organise another conference in Northern Ireland in June 2024.

The Trust has continued to work with MPs and peers including Miriam Cates, Nick Fletcher and Baroness Jenkins on the subject of age-inappropriate sex education materials which were used as evidence to trigger a review of RSHE materials by the Department of Education. The Trust has been working closely with campaign groups working on similar issues including Transgender Trend, Baywater Trust, Safe Schools Alliance, Conservatives for Women, Surrogacy Concern, Christian Concern, LGB Alliance, Citizen Go and Turning Point UK, as well as high profile individuals including James Esses and Kevin Lister.

We have signed joint letters to the Government on issues including conversion therapy, sex and relationship education, drag queen story hour, abortion and social transition of gender questioning children.

The Trust published three electronic issues of the FET Bulletin, covering a range of issues related to the family and the welfare of children and young people. The Trust has written opinion pieces on the website and sent out to supporters which have garnered significant responses from supporters. Our downloadable letter on conversion therapy was the most viewed content in 2023.

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Family Education Trust

Trustees’ Report

The Trust sent letters to several organisations to object to Drag Queen Story Hour and the indoctrination of children with transgender ideology including Specsavers, Tate Gallery, the Authors’ Licensing and Collecting Society (ALCS) and the Science Museum. As a result, Specsavers revoked its sponsorship of DQSH at the Stratford Literary Festival due to public outcry and the Science Museum removed its display for children containing materials promoting gender ideology.

The Trust has continued to comment in the national press and on TV and radio shows, with Lucy and Peter making appearances on GB News, Talk TV, TNT Radio, Times Radio and commenting in the Telegraph, Times, Daily Express, Daily Mail, Epoch News, European Conservative and the Sun newspapers.

Lucy was also interviewed for the national Hungarian newspaper Magyar Nemzet and the article was quoted by the Hungarian Prime Minister’s Political Director Balazs Orban.

The Trust has continued to move forward with our four-year strategy to make the charity more publicly visible. 2023 has seen a further substantial increase in our social media presence with our Twitter/X account now having over 7,000 followers and over 850 on Facebook. Several tweets have gone viral with over 500,000 views and shares. We now also have accounts on Instagram and Linkedin. The Trust continued to offer advice and support to parents, teachers and school governors, particularly in relation to growing concern about the character of sex education provision in schools

Achievement and performance

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The achievements during the year are as outlined in the preceding section. The need for society to support the family unit is recognised by many commentators. The Trustees seek to increase the influence of the Trust’s researched and well-informed approach insofar as can be achieved within the limits of the resources available to the Charity.

Public benefit

The Trustees have had regard to the guidance published by the Charity Commissioners on the matter of public benefit. The objectives of the Trust are directed towards the improvement of society through better understanding of the advantages of and threats to the stability of family life, thereby benefiting society as a whole and young people in particular. ;

Financial review

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The Trust continues to operate and fund its activities on the basis of donations, legacies, membership subscriptions and covenants as well as from the sale of educational literature.

During 2023, expenditure exceeded income by £66,348 (2022: £32,568). However the value of the investment portfolio increased by £17,155 (2022: decreased by £102,462).

The Trustees have considered the most appropriate policy for investing funds and have found that common investment funds for charities meet their requirements to generate both income and capital growth. The Trustees consider that the long-term return on the investments is satisfactory.

Plans for the future

The Trustees intend to continue to promote the Charity’s principal objects as set out above by publishing leaflets, reports and books on topics that are of relevant and current interest and to monitor social and political trends and comment thereon in accordance with such objects

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Family Education Trust

Trustees' Report

Independent Examination

Each of the Trustees has confirmed that there is no information of which they are aware which ts relevant to the independent examination, but of which the independent examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the independent examiner is aware of such information.

This report was approved by the Board of Trustees and signed on their behalf.

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Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Stephen Balogh (appointed 4 May2023)
Sarah Carter
Arthur Cornell (resigned 24 June 2023)
Philip Crabtree (appointed 6 September 2023)
Martin Doe
James Eaton (resigned 31 October 2023)
Ezra Kanyimo (appointed 6 September 2023)
Julie Maxwell
Tony Rucinski (appointed 6September 2023)
Gillian White (resigned 2 October 2023)
Chairman: Julie Maxwell (resigned 6September 2023)
Stephen Balogh (appointed 6 September 2023}
Treasurer: James Eaton (resigned 31 October 2023)
PhilipCrabtree(appointed1November2023)

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Family Education Trust

Trustees’ Report

Statement of trustees’ responsibilities

The trustees (who are also the directors of Family Education Trust 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), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland".

~ 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 the incoming resources and application of resources, Including its income and expenditure, of the charitable company for that perlod. In preparing these financial statements, the trustees are required to:

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The trustees are responsible for keeping proper accounting records that can 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. The annual report was approved by the trustees of the charity on 3 June 2024 and signed on its behalf by:

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i Philip Crabtree Trustee

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Family Education Trust

Independent Examiner's Report to the trustees of Family Education Trust (‘the Company’)

| report to the charity trustees (who are also Directors for the purpose of company law) on my examination of the accounts of the Family Education Trust (‘the charitable company’) for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that | might state to the charity's trustees those matters | am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions | have formed.

Responsibilities and basis of report

As the charity’s trustees of Family Education Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Family Education Trust are not required to be audited under Part 46 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). in carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently | express no opinion as to whether the financial statements present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

| have completed my examination. | confirm that no matters have come to my attention in connection with the

examination giving me cause to believe:

  1. accounting records were not kept in respect of Family Education Trust as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached,

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Family Education Trust

Independent Examiner's Report to the trustees of Family Education Trust (‘the Company’)

Tim Sullivan FCA

Field Sullivan Ltd 9 Hare & Billet Road Blackheath SE3 ORB

3 June 2024

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Family Education Trust

Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

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||||||||| |---|---|---|---|---|---|---|---| |Total|:|Total| |Unrestricted|2023|Unrestricted|2022| |Note|£|£|£|£| |Income|and|Endowments|from:| |Donations|and|legacies|3|30,170|30,170|53,645|53,645| |Charitable|activities|4|2,346|2,346|2,105|2,105| |Investment|income|5|20,737|20,737|19,378|19,378| |Total|income|§3,253|$3,253|75,128|75,128| |Expenditure|on:| |Raising funds|6|(1,451)|(1,451)|{1,641}|(1,641)| |Charitable|activities|7|(152,418)|(152,418)|(106,055)|(106,055)| |Total|expenditure|(153,869)|(153,869)|(107,696}|(107,696)| |Gains/losses|on|investment|assets|17,134|17,134|(109,648)|{109,648)| |Net movement|in funds|(83,482)|(83,482).|(142,216)|(142,216)| |Reconcillation|of|funds| |Total|funds|brought forward|902,062|902,062|1,044,278|1,044,278| |Total funds|carried|forward|21|818,580|818,580|902,062|902,062|

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All of the charity's activities derive from continuing operations during the above two periods.

The funds breakdown for 2022 is shown in note 21.

The notes on pages 11 to 21 form an integral part of these financial statements. Page 9

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Family Education Trust

(Registration number: 03503533)

Balance Sheet as at 31 December 2023

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|||||||| |---|---|---|---|---|---|---| |2023|2022| |Note|£|£| |Fixed|assets|.| |.|14|-|344| |Tangible|assets| |Investments|15|745,128|729,445| |745,128|729,789| |:| |Current assets| |Stocks|16|-|2,065| |Debtors|17|3,665|31,144| |Cash|at bank and|In|hand|18|73,135|141,440| |fe|76,800|174,649| |Creditors: Amounts falling|due within one year|19|_|(3,348)|(2,376)| |Net current assets|73,452|172,273|‘| |Net assets|818,580|902,062|Sy| |,| |Funds|of the|charity:| |Unrestricted|Income|funds| |Unrestricted|funds|818,580|902,062| |Total funds|21|818,580|902,062|

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For the financial year ending 31 December 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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Directors’ responsibillties:

2024 and signed on their behalf by:

Philip Crabtree Trustee

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; The notes on pages 11 to 21 form anPageintegral10 part of these financial statements.

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

1 Charity status

The charity is limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: 7 Bell Yard London WC2A 2JR

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These financial statements were authorised for issue by the trustees on 3 June 2024.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

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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) - Second edition October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.

Basis of preparation

Family Education Trust 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 notes.

Going concern

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The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

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Income and endowments

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 the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

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Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

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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 the spread of staff costs.

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Raising funds

These are costs incurred in attracting voluntary income, the management of Investments and those incurred in trading activities that raise funds.

Charitable activities

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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.

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £500.00 or more are initially recorded at cost.

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:

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Asset class Depreciation method and rate
Fixtures,fittingsandequipment 25%reducingbalancemethod

Fixed asset investments

Fixed asset investments, other than programme related 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.

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Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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Family Education Trust

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Notes to the Financial Statements for the Year Ended 31 December 2023

3 Income from donations and legacies

Unrestricted
funds
General		 Total
2023		 Total
2022
£ £ £
Donations and legacies;
Donationsand gifts 26,506 26,506 48,723
Gift aid reclaimed 3,664 3,664 4,922
30,170 30,170 53,645
4 Income from charitable activities
Unrestricted
funds Total Total
General 2023 2022
£ £ £
Sales within charitable activities 17 17 827
Otherincome 2,329 2,329 1,278
2,346 2,346 2,105
5 Investmentincome
Unrestricted
funds
General		 Total
2023		 Total
2022
£ £ £
Interest receivable and similar income;
interest receivable on bankdeposits 226 226 597
Income from listed investments 20,511 20,511 18,781
20,737 20,737 19,378

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

6 Expenditure on raising funds

a) Investment management costs

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||||||||| |---|---|---|---|---|---|---|---| |Total|Total| |2023|2022| |Note|£|£| |Other|investment|management|costs;| |Amounts|payable|to|investment|managers|1,451|1,641| |1,451|1,641| |7|Expenditure|on|charitable|activities| |Total|Total| |2023|2022| |Note|£|£| |Publication|costs|for sale|and|distribution|2,065|1,198| |Premises|costs|16,063|16,284| |Promotion|and|education|8,295|13,167| |Other|direct|costs|5,559|3,562| |(Profit)/loss|on|sale|of tangible|fixed|assets|83|-| |Depreciation|261|115| |Staff costs|11|82,061|60,951| |Support|costs|9|38,031|10,778| |152,418|106,055|

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Included in the expenditure analysed above, there are support costs of £38,031 (2022 - £10,778) which relate directly to charitable activities. See note 9 for further details.

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8 Net incoming/outgoing resources

Net outgoing resources for the year include:

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2023 2022
£ £
Depreciation of fixed assets 261 115
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Family Education Trust

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Notes to the Financial Statements for the Year Ended 31 December 2023

9 Analysis of governance and support costs

Support costs

Support costscosts
Unrestricted
funds		 Total Total
General 2023 2022
£ £ £
Administration expenses 19,246 19,246 2,370
Accountancy fees 180 180 -
Independent examination 2,538 2,538 2,376
Legal and professional fees 15,875 15,875 5,860
Bank charges 192 192 172
38,031 38,031 10,778

10 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

11 Staff costs

The aggregate payroll costs were as follows:

2023 2022
£ £
Staffcostsduringthe yearwere:
Wages and salaries 73,448 54,450
’ Social security costs 1,907 901
Pension costs 6,706 5,600
82,061 60,954

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Operational

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2023 2022
No No
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No employee received emoluments of more than £60,000 during the year.

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

12 Related party transactions

During the year the charity made the following related party transactions:

During the year donations of £559 (2022: £625) were received from trustees and related parties.

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

14 Tangible fixed assets

14 Tangible fixedfixed assets
Furniture and
equipment
£		 Total
£
Cost
At 1January2023 3,745 3,745
Disposals (2,000) (2,000)
At31 December 2023 1,745 1,745
Depreciation
At 1January 2023 3,402 3,402
Charge fortheyear 261 261
Eliminated on disposals (1,918) (1,918)
At 31 December2023 1,745 1,745
Net book value
At 31 December 2023 - -
ES
At31December2022 343 343

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Family Education Trust

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Notes to the Financial Statements for the Year Ended 31 December 2023

15 Fixed asset investments

Other investments

Listed Unlisted
investments investments Total
£ £ £
Cost or Valuation
At 1January2023 728,946 499 729,445
Revaluation 17,155 - 17,155
Disposals (1,021} (451) (1,472)
At31 December 2023 745,080 48 745,128
Net book value
At31 December 2023 745,080 48 745,128
At31 December 2022 728,946 499 - 729,445
16 Stock
2023 2022
£ £ ,
Stocks - 2,065
17 Debtors
2023
£		 2022
£
Prepayments - 4,065
Other debtors 3,665 27,079
ee
3,665 31,144
18 Cash andcash equivalents
2023 2022
£ £
Cash on hand . 177
Cash atbank 73,135 141,263
73,135 141,440

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

19 Creditors: amounts falling due within one year

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|||| |---|---|---| |2023|2022| |£|£| |Accruals|3,348|2,376|

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20 Commitments

Other financial commitments

At the end of the financial year, the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases for thier premises in total of £nil (2023 - £7,655), the annual commitments under this lease was £15,310 (2023 - £15,310).

21 Funds

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||||||||| |---|---|---|---|---|---|---|---| |Other| |Balance|at|1|Incoming|Resources|recognised|Balance|at 31| |January 2023|resources|expended|gains/(losses)|| December 2023| |£|£|£|£|£| |Unrestricted|funds| |General| |General|Funds|172,617|53,253|(153,869)|1,451|73,452| |Designated| |Endowment|fund|729,445|-|-|15,683|745,128| |Total|funds|902,062|53,253|(153,869)|17,134|818,580| |Balance|at| |Balance|at|Other|31| |1 January|Incoming|Resources|recognised|December| |2022|resources|expended|Transfers|gains/(losses)|2022| |£|£|£|£|£|£| |Unrestricted|funds| |General| |General|Funds|153,544|75,128|(107,696)|50,000|1,641|172,617| |Designated| |Endowment fund|890,734|-|-|(50,000)|(111,289)|729,445| |Total funds|1,044,278|75,128|(107,696)|-|(109,648)|902,062|

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Family Education Trust

Notes to the Financial Statements for the Year Ended 31 December 2023

22 Analysis of net assets between funds

2023 net assets between funds

2023 net assets between fundsfunds
Unrestricted funds Totalfundsat
31 December
General Designated 2023
£ £ £
Fixed asset investments - 745,128 745,128
Current assets 76,800 - 76,800
Current liabilities (3,348) - (3,348)
Total net assets 73,452 745,128 818,580
2022 net assets between funds
Total funds at
Unrestricted funds 31 December
General Designated 2022
£ £ £
Tangible fixed assets 344 - 344
Fixed asset investments - 729,445 729,445
Current assets 174,649 - 174,649
Current liabilities (2,376) - (2,376)
Totalnetassets 172,617 729,445 902,062

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