Company registration number.. 03503533 Charity registratSon number.. 1070SOO Family Education Trust IA company1Smlted by guarantee) Annual Report and Flnancial Statements for the Year Ended 31 December 2024 Fleld Sulllvan Limlted 9 Hare & Billet Road Blackheath SE3 ORB
Famlly Education Trust Contents Reference and Adminlstrative DetaSls Trustees, Report 2to6 Independent Examlner's Report 7t08 Statement of Financlal Activitles Balance Sheet io Notes to the Flnanclal Statements Ilto19
Famlly Education Trust Reference and Adminlstratlve Details Chalrman Stephen Balogh Trustees Stephen Balogh Phillp Crabtree Martin Doe Sarah Halre Ezra Kanylmo Julle Maxwell Tony RucinskS Philip Crabtree Treasurer Charlty Reglstratlon Number 1070500 Company Reglstratlon Number 03503533 The charity 55 Incorporated in England & Wales. 7 Bell Yard London WC2A 2JR Reglstered Offlce Independent Examlner Fleld Sullivan Limited 9 Hare & Blllet Road Blackheath SE3 ORB Page I
Family Educatlon Trust Trustees. Report The Trustees have pleasure In presenting thelr report and financlal statements for the year ended 31 December 2024. The accounts have been prepared in accordance with the accounting policies set out In Note I to the accounts and comply with the Charity's Memorandum and Artlcles of Association, the Companies Act 2006 and the Statement of Recommended Practice. Accounting and Reporting by Charitles, issued In 2014, for small entities. structure, Governance and Management The Charity Is incorporated as a company Ilmlted by guarantee wlth a Memorandum and Artlcles of Associatlon. The Trustees durlng the year are listed on the precedSng page. All Trustees are members of the Company but have no benef(cial interest. Trustees are elected at the Annual General Meetlng of the Company and may seNe for three years without being re-elected. The Trustees meet at least once every quarter, with the agenda typlcally includlng reports from the Chairman, the Director, and from the Honorary Treasurer. The Charity has two employees. The Dlrector Is responsible for the day to day runnlng of the Charity, including the commissioning of high quallty evidence-based research on matters connected with the Charity's objectives. The Communications and Publlc Relations Officer ensures that the public are better able to benefit from the Charlty's research, by increaslng knowledge about it among various interested audiences. The Charlty is not legally connected to any another organlsatlon, for example by havlng a tradlng company or having a subsidiary charity. The Trustees have reviewed the risks facing the Charity and taken appropriate steps to ensure that the effects of the occurrence of any rlsk are mltigated or elimSnated. Objectives and Actlvltles The prlncipal objects of the Charity are.. l. To establish, carry out and promote research Into the family founded on marriage and to publlsh and dlsseminate Snformation and data obtained therefrom. 2. To establlsh, carry out and promote research Into the soclal, medical and psychological consequences of sexual behavlour and to publish and dlsseminate the information and datè obtained therefrom. Chalr's Report On behalf of the Trustees at)d Staff of the Family Educatlon Trust IFETI. l am pleased to present our Annual Report and Accounts. Firstly, I would like to thank Sarah Carter for her many years of service to FET. most recently as a Trustee. Sarah retlred from this role during the year and we were pleased to welcome Sarah Haire as a new Trustee during that time. Page 2
Family Education Trust Trustees, Report With the very signSficant personnel changes In the recent past, thls year has been one of settling In as a new team and working together to complete the very necessary two-year overhaul of the organisatlon as a whole. We now operate virtually, havlng closed our Ashford office In late 2023, but remaln actlve across the country and onllne. As noted below, we put on a successful Annual Conference in the autumn and we also organised a well-attended regional conference In Northern Ireland. As well as pertinent and stimulating talks, both occaslons proved enormously helpful in strengthening contacts between the many concerned Individuals and organlsations working to promote the place and value of the family in today's circumstances. FET is flrst and foremost a fact and emplrically based research organisatlon, and we continue to play this essentlal, foundatlonal role in complementary fashion to the many campaigning and other research organlsatlons whose areas of interest and concern over13P Wlth ours. To reinforce thls core purpose, we spent conslderable effort this year building up research capacSty both internally and through external commissions. The two pieces of headllne research issued In the latter stages of the year were a foretaste of the much higher production rate we wlll be seelng in the coming year across a wide range of sublects. As an Smportant "shop window" our websSte revamp was almost ready for launch by the close of the year, from whlch everything we issue will be made available. We are also In the process of updating our charitable objects, whlch wlll, If agreed by the Charitles Commission, allow us to have a broader scope to oijr research work. It will not materially affect what we do or how we do it. I would Ilke to thank our Dlrector Peter D. Williams and Press & PR Officer Lucy Marsh for belng both the "face" of FET and its driving force. I would also like to thank my fellow Trustees for their time, dedication and welcome advice thls p3St year, in partlcular Phlllp Crabtree for hls diligent work as Treasurer. Finally, on behalf of us all I would Ilke to thank everyone who 15 connected to FET In some way, whether as long-standingi loyal donors, fellow collaborators or brand new readers of our regular bullelins and updates. You are all hugely valuable as essential members of our wider communlty, and we thank you for your support thls past year In getting the wold out, Do watch out for many more opportunlties to do so thls coming yearl Dlrector'5 report The Annual General Meeting and Conference Sn 2024 featured addresses by Dr Phillp KSszely I'oon't Tell Your Mum: Schools, Gender, Children'l, Dr Anna Loufti I'lndoctrination Sn Schools A Legal Analysls'l and Helen Glbson I'surrogacy.. At Home and Abroad, What You Need to Know'l. Video recordings of both addresses have been made available online. The Trust continued to monitor trends in soclety affecting the family and the welfare of thildren and young people. The Director Peter D. Wllliams and the Communications and PR Offlcer Lucy Marsh engaged Sn multlple televisual and radlo appearances on GB News, Talk TV, TNT Radio, and BBC Radio. Comments on behalf of the TrLtst have been the DaSly Mall, the Times, and varlous other newspapers and onlSne outlets. Several deep projects took place across 2024.. a modernlsatlon of the th3ritWs Articles of AssocSatlon and development of its fundraislng and dlssemination Infrastructure - particularly the provision of a new website and prellminary activStles with its plans for improved contact management, both for 2025 Implementatlon and launch. Staff took training on dlgital fijndraislng to enable these efforts going forward. Page 3
Family Education Trust Trustees, Report The Trust publlshed two new pieces of reseafch, one belng Boys And The Burden Of Lobels.. An Ext7mlnatAon of Masculinlty Teoching In Schools by Lottie Moore, and the other belng Folse Autonomy (Jnd Hobson'5 Cholce.. How Assisted Dying, Harms the Family by the Dlrector. Several other research projects were InvestSgated and commissioned and are belng published Sn 2025. The Trust ptjblished flve electronlc Issues of the FET Bulletln and three physical editlons, coverlng a range of issues related to the family and the welfare of thildren and young people, and an addltlonal four pleces of orlginal analysis by the Comms and PR Officer were sent out to supporters and published on the webslte. The Trust's ongoing strategy to make the charlty more publScly vlsible was pursued, with promotion of its actlvities and work made at Conferences and events by members of staff, and a further substantial increase in its soclal media presence with followers on 'X' approaching 8,500 17,000 in 20231 and 950 on Facebook (approaching 850 in 20231 and plans developed for greater engagement on Instagram and Linkedln. The Trust contSnued to offer advice and support to parents, teachers and school governors, particularly in relatlon to BrowinE concern about the character of relatlonshlp, health, and sex education IRHSEI provlsion in schools. Achlevement and performance The achlevements durlng the year are as outlined in the Chalr's Report and the Directorfs Report above. The need for society to support the famlly unit is recognlsed by many commentators. The Tr(Jstees seek to Increase the Influence of the Trust's researched and well-lnformed approach Insofar as can be achleved withln the limlts of the resources avallable to the Charltv. Public beneflt The Trustees have had regard to the guldance published by the Charlty Commlssioners on the matter of publlc benefit. The objectlves of the Trust are directed towards the improvement of society through better understanding of the advantages of and threats to the stablllty of famlly life, thereby benefiting soclety as a whole and young people In partlcular. Flnanclal revlew The Trust contSnue5 to operate and fund Its activities on the basls of donatlons, legacles. membershlp subscriptlons and covenants as well as from the sale of educational literature. Durlng 2024, expendlture exceeded Income by £99,93212023.' £66,348), The trustees plan for this deficit to be removed in the coming years, so that the CharSty can have a sustainable future. In the meantlme, the Charity's Investments are funding any annual shortfall. Durlng 2024, the value of the Charity's Investment portfolio decreased by £1,25012023'. Increased by £17,155). The Trustees have considered the most approprlate policy for Investing funds and have found that common Investment funds for charitles meet their Iequlrements to generate both income and capital growth. The trustees consider that the Investments wlll produce satlsfactory returns. but are concerned that the overall amount invested will reduce while withdrawals are made to fund budget deficlts. To address this, the Trustees are Implementing a fundraising strategy whlle also monltoring expenditure. Plans for the future The Trustee5 Intend to continue to promote the Charity's princlpal objects as set out above by publlshlng leaflets, reports and books on topics that are of relevant and current interest and to monitor soclal and politlcal trends and comment thereon In accordance with such objects. Page 4
Family Education Trust Trustees, Report Independent Examinatlon Each of the Trustees has confirmed that there is no informatlon of which they are aware whlch is relevant to the independent examination, but of whlch the Independent examiner is unaware. They have further conflrmed that they have taken appropriate steps to identify such relevant information and to establish that the independent examiner is aware of such InformatS0n. Thls report was approved by the Board of Trustees and signed on their behalf. Trustees and officers The trustees and offlcers seNlng during the year and slnce the year end were as follows: Trustees: Stephen Balogh Sarah Carter (resigned 25 November 20241 PhSllp Crabtree Martin Doe Sarah Haire (appointed 25 November 20241 Ezra Kanyimo Julie Maxwell Tony Rucinskl Chairman: Stephen Balogh Treasurer.. Phlllp Crabtree Statement of trustees, responslbilitles The trustees (who are also the directors of Family Education Trust for the purposes of company lawl are responsible for preparing the trustees, report and the financlal statements In accordance wlth appllcable law and United Kingdom Accounting Standards Iunlted Xlngdom Generally Accepted Accountlng Practice), including FRS 102 "The FlnancSal Reportlng Standard èpplicable in the UK and Republlc of Ireland" Company law requires the trustees to prepare flnanclal statements for each financlal year. Under company law the trustees must not approve the flnat)clal statements unless they are satlsfied that they give a true and fair view of the state of affaSrs of the charltable company and of the incoming resources and application of resources, Includlng Its Income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to., select sultable accountlng policles and apply them consistentlv; obseNe the methods and prSncSples In the Charlties SORP,. make judgements and estlmates that are reasonable and prudent; state whether applicable accountlng standards, comprisSng FRS 102 have been followed. sublect to any materlal departures dlsclosed and explained In the financlal statements; and prepare the flnanclal statements on the golng concern basis unless It is Snapproprlate to presume that the charitable company wlll continue In buslness. Page 5
Famlly Education Trust Trustees. Report The trustees are responslble for keeplng proper a¢coun"tlng records that can disclose wlth reasonable accuracy at ahy tlme the flnanclal posltlon of the charltable company and enablÈ them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are also responslble for safeguarding the 35sets of the charitable company and hence for,taklng reasonable steps for the prevention and detertlon of fraud and other Irregularlties. The trustees are responslble for the malntenance and integrlty of. the corporate and flnanclal informatlon Included on the charltable company's webslté, Leglslatlon governlng the preparatlon and dlssemlnatlon of financlal statements may dlffer from leglslatlon In otherJurlsdlctlons. The annual report was approved by the trustees of the charlty on 4 Aprll 2025 and slgned on Its behalf by.. Phll p Crabtree Trustee Pège 6
Famlly Educatlon Trust Independent Examlner's Report to the trustees of Family Education Trust ('the Company,) I report to the charlty trustees Iwho are also Directors for the purpose of company lawl on my examlnation of the accounts of the Famlly Education Trust I'the charitable company'l for the year ended 31 December 2024 which comprlse the statement of Flnanclal ActivSties, the Balance Sheet and related notes. Thls report Is made solely to the charity's trustees, as a body, in accordance wlth sectlon 145 of the charitles Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am requSred to state to them in thls report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responslbllity to anyone other than the charity and the charity's trustees as a body, for my work, for this report, or for the opinions I have formed. Responslbilltles and basls of report As the charity's trustees of Family Educatlon Trust you are responslble for the preparation of the accounts in accordance with the requirements of the Companles Act 20061'the 2006 Act'l. Havlng satSsfled myself that the accounts of Family Education Trust are not requlred to be audited under Part 16 of the 2006 Act and are eligible for Independent examination, I report In respect of my examlnation of your charlty's accounts as carried out under section 145 of the Charlties Act 20111'the 2011 Act'l. In carrylng out my examination I have followed the Directions glven by the Charity Commlssion under sectSon 14515llbl of the 2011 Act. An independent examlnation does not Involve gatherlng all the evldence that would be requlred In an audit and consequently does not cover all the matters that an audltor conslders In giving thelr opinion on the financial statements. The plannlng and conduct of an audit goes beyond the limited assurance that an Sndependent eKamlnation can provide. Consequently l express no opinion as to whether the financial statements present a 'true and fairf view and my report is limlted to those specific matters set out In the Independent examinerfs statement, Independent examlnerfs Statement I have completed my examinatlon. I conflrm that no matters have come to my attentlon In tonnectlon with the examlnatlon givlng me cause to belleve: l. accounting records were not kept Sn respect of Family Educatlon Trust as required by section 386 of the 2006 Att,. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply wlth the accountlng requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and faSr view, which is not a matter considered as part of an independent examlnation; or 4. the accounts have not been prepared In accordance wlth the methods and prlnciples of the Statement of Recommended Practice for accounting and reporting by charlties appllcable to charities preparing thelr accounts In accordance with the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021. I have no concerns and have come across no other matters In connectSon with the examinatlon to whlch attention shotjld be drawn in thi5 report In order to enable a proper understanding of the actounts to be reached. Page 7
Family Educatlon Trust Independent Examiner's Report to the trustees of Family Education Trust ('the Company,) Tim Sullivan FCA Fleld Sullivan Ltd 9 Hare & Billet Road Blackheath SE3 OR8 2025 Page 8
Famlly Educatlon Trust Statement of Fihanclal Actlvities for the Year Ended 31 December 2024 Ilncludlng Income and Expenditure Account and Statement of Total Recognlsed Galns and Losses) Total 2024 Total 2023 Unrestrlcted Unte5tilcted Note Intome and Endowments from.. Donatlons and legacles Charltable attivlties 32,126 939 20,216 32,126 939 20,216 30,170 2.346 20,737 30,170 2,346 20.737 Investment Sncome Total Income 53,281 S3,281 53,253 53,253 Eypenditrjre an.. Raislng funds Charitable aditte$ 11,5231 1151.690 11,5231 1151,6901 11.4SII 1152,4181 11.4SII 152,418 Total expendittsre Gainsllosses on Investment assets 1153.2131 50,273 IS3,2131 SO,273 1153.8691 17,134 1153,8691 17,134 Net movement In fund5 149,6591 149.6591 183.4821 183.4821 Recon¢lllatlon of lund5 Total funds brought forwa¥d 818.580 818.580 9Q2,062 902.062 Toial funds iarrled forward 19 768,921 768,921 818,580 818,S80 All of the cbarlty's artlvbtles derlve from contlnulng operatlons durln8 the abeve two perlods. The funds breakdown for 2023 Is shown In note 19. The note5 on paees 11 ¢0 19 fwm an Inte8rHI part of these financlal statement5. Page 9
Famlly Education Trust (Reglstration number: 03503533} Balance Sheet as at 31 December 2024 2024 2023 Note Flxed assets Investments 15 743.878 745.128 Current assets Debtors Cash at bank and In hand 16 17 3,271 26,701 3,665 73,fJ5 29,972 76,800 Credltors:"Amounts falllng due wlthln one year 18 14,9291 13,3481 Net current aet$ 25,043 73,452 Net ossets 76 ,921 818,580 Funds of thè charlty: Unrestrlrted Income funds Unrestrlcted funds 768,921 818,580 .Total funds 19 768,921 818,580 For the flnanclal year endlng 31 December 2024 the charlty was entltled to exemptlon from audlt under sectlon 477 of the Companles Act 2006 relatlng to small companles. Dlrectors, responslbllltles: .The members have not. requlred the Charlty to obtaln an audlt of Its accounts for the year In questlon In accordance wlth sectlon 476,. and The dlrector5 acknowledg'e their responsibllltles for tomplylnB wlth the requlrèments of the Act wlth respect to accounting records and the prèparatlon of attounts. The financial statements on pages g to 19 were approved by the trustees, and authorlsed for Issue on 4 Aprll 2025 and slgned on thelr behalf by.. phlllp Crabtree Trustee The notes on pages 11 to 19 form an Integral part of these flnanclal statements. Page 10
Family Educatlon Trust Notes to the Financial Statements for the Year Ended 31 December 2024 I Charlty status The charity Is limited by guarantee, Incorporated In England & Wales, and consequently does not have share capital. Each of the trustees is (Sable to contrlbute an amount not exceeding £10 towards the assets of the charity in the event of liquidatS0n. The address of Its reglstered offlce Is.. 7 Bell Yard London WC2A 2JR These flnancial statements were authorlsed for Issue by the trustees on 4 Aprll 2025. 2 Accounting pollcle5 Summary of slgnlflcant accountlng pollcles and key accounting estlmates The principal accounting policies applied in the preparatlon of these flnancial statements are set out below. These policies have been consistently applled to all the years presented. unless Otherwise staled. Statement of compliance The financSal statements have been prepared In accordance with Accounting and Reportlng by Charities.. Statement of Recommended Practice applicable to charitles preparing thelr accounts in accordance wlth the Flnancial ReportSng Standard appllcable In the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191 Icharities SORP IFRS 1021- Second editlon October 20191, the Flnancial Reporting Standard applicable In the UK and Republlc of Ireland IFRS 1021. They also comply with the Companles Act 2006 and charitles Act 2011. Basls of preparation Famlly Education Trust meets the definition of a public benefit entity under FRS 102. Assets and liabllities are nitlally recognSsed at historlcal cost or transaction value unless otherwise stated Sn the relevant accountlng policy notes, Golng concern The trustees consider that there are no material uncertainties about the charity's abillty to continue as a going concern nor any sSgnificant areas of uncertainty that affect the carrylng value of assets held by the charlty. Judgements and key sourtes of estlmatlon uncertalnty In the appllcation of the charity's accounting policles, the trustees are requlred to make judgements, estlmates and assumptions about the carrySng amount of assets and Ilabilities that are not readily apparent from other sources. The estlmates and assoclated assumptions are based on hlstorical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estlmates ond underlying assumptions are reviewed on an ongoing basls. Revlslons to accountlng estlmates are recognlsed in the perlods In whlch the estlmate is revlsed where revisions affects only that peiiod, or In the perlod of the revlslon and future perlods where the revisions affects both current and future periods. Page 11
Family Education Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Income and endowments All income Is recognised once the charity has entitlement to the income, St is probable that the income will be recelved and the amount of the Income receivable can be measured rellably. Donations and legacies Donations are recognised when the charlty has been notified In wrSting of both the amount and settlement date. In the event that a donatlon Is subject to conditions that requlre a level of performance by the charlty before the charlty is entitled to the funds, the income is deferred and not recoBnised untll either those conditions are fully met, or the fulfilment of those conditions Is wholly wlthin the control of the charlty and it is probable that these conditions wlll be fulfilled in the reporting period. Investment income Dlvldends are recognised once the dlvldend has been declared and notlflcation has been received of the divldend due. Expendlture All expenditure Is recognised once there Ss 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 slmllar costs to that category. Where costs cannot be directly attrlbuted to particular headings they have been allocated on a basis consistent wlth the use of resources, with central staff costs allocated on the basis of time spent, and depreclatlon charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Roisingfunds These are costs incurred In attractlng voluntary Income, the management of investments and those Incurred In tradlng activities that raise funds. Charltoble octivltles Charitable expenditure comprlses those costs Incurred by the charlty In the delivery of Its actlvities and services for Sts beneficiarles. It Includes both costs that can be allocated dlrectly to such actlvitles and those costs of an Indirect nature necessary to support them. Support costs Support costs Include central functions and have been allocated to actlvity cost categorles on a basls consistent with the use of resources, for example, allocatlng property costs by floor area5, or per capita, staff costs by the tlme spent and other costs by their usage. Taxatlon The charity Is consldered to pass the tests set out In Paragraph I Schedule 6 of the Flnance Act 2010 and therefore it meets the deflnltion OF a charitable company for UK corporatlon tax purposes. Accordingly, the charity Is potentially exempt from taxatlon in respect of income or capltal gains received wSthln categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Galns Act 1992, to the extenl that such Income or gains are applied excluslvely to charitable purposes. Page 12
Family Education Trust Notes to the Financial Statements for the Year Ended 31 December 2024 Tangible fixed assets Indlvldual fixed assets costing £500.00 or more are Initially recorded at cost. Depreclatlon and amortisatlon Depreciation is provided on tanglble flxed assets so as to wrlte off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Fixtures, flttlngs and equipment Depreciation method and rate 25% reduclng balance method Flxed asset Investments FSxed asset Investments, other than programme related investments, are included at market value at the balance sheet date. Reallsed galns and losses on investments are calculated as the difference between sales proceeds and theSr 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 perlod of disposal. Unreallsed galns and1055es represent the movement In market values durSng the year and are credited or charged to the Statement of Financlal Actlvities based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed In the ordSnary course of buslness. Trade debtors are recognSsed initlally at the transactlon price. They are subsequently measured at amortised cost uslng the effectSve Interest method, less provislon for Impairment. A provision for the impairment of trade debtors Is establlshed when there is oblectSve evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables, Cash and ¢a5h equlvalents Cash and cash equlvalents comprise cash on hand and call deposits, and other short-term hlghly Ilquld investments that are readily convertible to a known amount of cash and are subject to an Inslgnificant rlsk of change In value. Penslons and other post retlrement obllgatlons The charlty operates a deflned contribution penslon scheme which is a penslon plan under whlch fixed contributions are pald Into a penslon Fund and the charlty has no legal or constructive oblSgatlon to pay further contributSons even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prlor periods. Contributions to defined tontribution plans are recognlsed In the Statement of Financlal Aclivitles when thev are due. If contrlbution payments exceed the contrlbution due for seNlce, the excess Is retognlsed as prepayment. Page 13
Famlly Education Trust Notes to the Financial Statements for the Year Ended 31 December 2024 3 Income from donatlons and legacles Unrestrltted funds General Total 2024 Total 2023 Donations and legacies,. Donations and gifts Gift aid reclaimed 28,757 3,369 28,757 3,369 26,506 3,664 32,126 32,126 30,170 4 Income from charltable artlvltles Unrestricted funds General Total 2024 Total 2023 Sales wlthin charitable actSvltles Other Sncome 17 939 939 2,329 939 939 2,346 5 Investment Income Unrestrlcted funds General Total 2024 Total 2023 Interest receivable and slmilar Income; Interest receivable on bank deposits Income from Ilsted Investments 18 18 226 20,511 20,198 20,198 20,216 20,216 20,737 Page 14
Family Educatlon Trust Notes to the Financial Statements for the Year Ended 31 December 2024 6 Expenditure on ralslng funds al Investment management cost5 Unrestricted funds Deslgnated Total 2024 Total 2023 Note Other Investment management costs: Amounts payable to Investment managers 1,523 1,523 1,4SI 1,523 1,523 1,451 7 Expendlture on charltable actlvltles Total 2024 Total 2023 Note Publlcatlon costs for sale and dlstribution Premises costs 2,065 16,063 Research and development Promotlon and educatlon Other direct costs IProfitllloss on sale of tangSble flxed assets DepreclatSon Staff costs 10,000 14,008 4,565 8,295 5,559 83 261 12 90,344 32,773 82,061 38,031 Support costs io 151,690 152,418 Included in the expendlture analysed above, there are support costs of £32,77312023 £38,031) which relate dlrectly to charitable activities. See note 10 for further details. 8 Net Incomlngloutgolng resources Net outgoing resources for the year include., 2024 2023 Depreclatlon of fixed assets 261 9 Taxation The charity is a reglstered charlty and is therefore exempt from taxatlon. Page IS
Famlly Education Trust Notes to the Financial Statements for the Year Ended 31 December 2024 10 Analysls of governance and support ¢0stS Support costs Total 2024 Total 2023 Administration expenses Accountancy fees Independent Èxamination Legal and professional fees Bank charges 4,401 19,246 180 2,616 25,516 240 2,538 15,875 192 32,773 38,031 11 Trustees remuneratlon and expenses No trustees. nor any persons connected with them, have received any remuneratlon from the charity durSng the year, No trustees have recelved any reimbursed expenses or any other beneflts from the charlty during the year, 12 Staff costs The aEgregate payroll costs were as follows: 2024 2023 staff costs durlng the year were: Wages and salarles Social security costs Pension costs 79,006 3,OS3 8,285 73,448 1,907 6,706 90,344 82,061 The fflonthly average number of persons (including senlor management / leadershlp team) employed by the charlty durlng the year expressed as full time equlvalents was as follows.. 2024 No 2023 No Operational No employee recelved emoluments of more than £60,000 during the year. The total employee beneflts of the key management personnel of the charity were £54,06712023 - É41,4691. Page 16
Family Education Trust Notes to the Flnancial Statements for the Year Ended 31 December 2024 13 Related party transactlons During the year the charlty made the followlng related party transactions: During the year donatlons of £25112023.. £5591 were received from trustees and related parties. 14 Tangible flxed assets Furnlture and equlpment Total Cost At lJanuary2024 1,746 1,746 At 31 December 2024 1,746 1,746 Depreclatlon At lJanuary2024 1,746 1,746 At 31 December 2024 1,746 1,746 Net book value At 31 Decemljer 2024 At 31 December 2023 15 Flxed asset Investment5 Other Investments L15ted Investments Unllsted Investments Total Cost or Valuatlon At lJanuary2024 Revaluatlon Dlsposa15 745,080 44,299 196,0621 48 745,128 44,299 145,5491 50,513 At 31 December 2024 693,317 50,561 743,878 Net book value At 31 December 2024 693,317 50,561 743,878 At 31 Oecember 2023 745,080 48 745,128 Page 17
Famlly Education Trust Notes to the Flnancial Statements for the Year Ended 31 December 2024 16 Debtors 2024 2023 oiher debtors 3,271 3,665 17 Cash and cash equlvalent5 2024 2023 Cash at bank 26,701 73,135 18 Credltors: amounts falllng due wlthln one year 2024 2023 Accruals 4,929 3,348 19 Funds Balance at 31 Decembèr 2024 Balance at l January 2024 Other recognlsed gainslllosses) IncomlnE resources Resources expended Transfers Unrestrlcted funds General General Funds 73,452 53,281 1151,6901 50,000 25,043 Deslgnoted Endowment fund 745,128 11,5231 150,0001 50,273 743,878 Total funds 818,580 53,281 1153,2131 50,273 768,921 Page 18
Family Education Trust Notes to the Flnancial Statements for the Year Ended 31 December 2024 Other recognlsod galns/llosses} Balance at 31 December 2023 Balance at I January 2023 Incomlng resources Resources expended Unrestrlrted funds General General Funds 172.617 53,253 1153,8691 1,451 73,452 Deslgnated Endowment fund 729,445 15,683 745,128 Total funds 902,062 53,2S3 1153,8691 17,134 818,580 20 Analysls of net assets between funds 2024 net assets between funds Total funds at 31 December 2024 Unrestrlrted funds General Deslgnated Fixed asset Investments Current assets Current Ilabilities 743,878 743,878 29,972 14,9291 29,972 14,9291 Total net assets 2S,043 743,878 768,921 2023 net assets between funds Total funds at 31 December 2023 Unrestrlcted funds General Designated Fixed asset Investments Current assets Current liabillties 745,128 745,128 76,800 13,3481 76,800 13,3481 Total net assets 73,452 745,128 818,580 Page 19