Cornpany registration number.. 03503533 Charity re8lStration number.. 1070500 Family Education Trust IA tompany limited by guarantee) Annual Report and Financial Statements lor the Year Ended 31 Dernber 2025 Field Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB
Famlly Education Trust Contents Reference and Administrative Details Tru5tees' Report 2to6 Independent Exarniner's Report 7t08 ststement of Financial AttTrvities Balance Sheet io Note5 to the Financ181 Statements iito20
Family Education Trust Reference and Admlnlstratlve Details Chaimian Tony Rucinski TreeS Stephen Balogh Philip Crabtree Sarah Haire Ezra Kanyimo Tony Rucin5ki Philip Crabtree Trea5ur*r Ch¥lty Registration Ilumber 10705 ompany Re8lstratlon Nwnber 03503533 The charity Is Incorporated in England & Wales. 7 Bell Yard London W(2A 2JR Rwstered Office Independent Exarnlner Field Sullivan Limited 9 Hare & Billet Road Blatkheath SE3 ORB Page I
Famlly Education Trust Trustee5' Report The Trustees have pleasure in presenting their report and financial statements for the year ended 31 December 2025. The auounts have been prepared in accordance wlth the a¢countin8 policies set out in Note I to the accounts and comply with the Charitvs Memorandum and Articles of Association. the Companies Act 2(K16 and the Statement of Rectsmmended Prartice. Accountin8 and Reporting by Charlties, issued in 2014, for Small entrties. Oblecilves and Attr4ryti¢S The charl5 objects a to advan edu¢ation and to promote and carry out research for the public benef into issues relati to famity life. the upbrin8in8 and education of children, and the institytion of marriage. In pursuin6 these objects, the trustees have had regard to the Chariiy CommIlOn,5 8uid3nte on public benefit. The charitys principal activities during the year were commlssionin£ an(1 publishSn8 Independent, evidence-based researth on family policy,. hostin8 events to prorntste informed public debate; engaging with pdicymakers, media and the public on matters affeding family life and thild wellbeing. Achiewements and Performan Re5ear¢h pFogramme The charity maintained a strong research programme throughout 2025. wilh several papers published or in advanced preparation across a ran8e of toplcs includin8 family Structure and stability, parental ri8ht5. educatlon policy and demographic trends. The research portfolio was supported by external commisslonSng of independent SearCherS and academit5. In 2025. the tharlty spent approximately £25,500 on external research. To strengthen the Quality and credibility of its research, the charity estsblished an Academic Advisory Board comprising senior academics who will prgvide independent guidance on research strategy and methodology. This represents an important step in reinforcinB the ri8our and impart of the thariwswork. A Signifint pipeline of new research projects has been approved for commlsslonin8 in 2026. coverin8 topics including family law, online safety. housing and family formation, and education pollcy. The charity has allocated E40.000 for external research in 2026. Publkatlons A major research report on houslng policy and farnily formation is in preparation for publi¢ation In 2026. The report examines how planning regulation and hou5in8 supply affect family life and draws on Èxtenslve data analysis. It wlll be published in partnershlp with a specialist publisher and launched at the charl$ annual conference. Conference and eveb)ts The charivs annual conference contlnues to Serve as a key platform for presenting SearCh fi'nding5. buildln8 partnership5 and en8agln8 Wlth sUPPOrters. A conference for 2026 is being planned with a pro8ramme of speakers drawn from politics, academia and family polliy or8anlsations. Partnerships and engaiement Ouring 2025 and earEy 2026, the charity developed relationships with several organisation5 working on family policy and lated issues, including think tanks, academic Institutions and campaign groups. These relationships Strengthen the charity's access to expertise and expand its reach in policy debate. The charity also continued to engage with Members of Parfiament and parliameniary networks on family-related issues. Pa8e 2
Famlly Education Trust Trustees, Report Communl¢¥tions and medla The tharity maintarned an active presernce across social media platforms and published commentary in external outlets on family policy topics. Work continoed on improving the Chari$ website and simpllfy'ng its membership processes to make engagement easier lor supporters. Flnandal Re9W Total income for the year wa5 approximately £56,300. comprisin8 investment incom& 01 £15.500 and donations of £39,300 lincludtn8 Gift Aid recovertes of £2.8001. Donations exceeded expectstions, reflectin8 growing sUPPOrt from the charitV5 netr4ork. However, investment income declined as è result of portfolio wlthdrawals made to fund operailons In previous years. Total expenditure was approxlmately £192,400. The largest Items of expenditurè were staff costs gf £104,21X) (which included costs arising from the organisational restructurin81, external research of £25,500, and professional lees of £I2,Cl0. The charit¢s annual Conferen wa5 delivered withln budget. The operatin8 deficit lor the year wa5 3pproximately £147,OW. which was funded by a planned withdrawal of £ISO,000 ffom the charitrf5 investment portfolio. This is the second consecutive year in which operation5 have been fynded throu8h Investment drawdowns, and the tru5tee5 recognise that thi3 approach Is not sustainable In the long term. Rèsèrves pollcy and 8oin8 eoncern The trustee5 are aware that the charivs reserve5 have been depleted through successive years of operatin8 delitits. The charl$ investment portfollo, while still providing a si8nificant buffer, nn0t sustain the current rate of drawdown indefinitely. The trustees e5tlrnate that, without a material improvement in income, the portfolio will be depleted withSn approxlmately five to seven years at wrrent rates. In response, the trustee5 have tsken a number of steps. The organiSational restructurin8 carried out in 2025 is intended to redirert resgurces towards income generation. The recruitment of a Development Manager- wlth a remit focused on major donors, trusts and foundations, and règular 8ivin8- IS the centrepiece of ihe chariW5 financial sustainability Strate8y. The 2026 budget projects a reduted operating defKit of approximately £97,600, reflerting both the re5tructurin8 and anticipated income 8rowth. On the basis of the charity's remaining investment reserves and the steps bein8 taken to grow income. the trustees consider it appropriate to prepare the accounts on a 8oin8 concern b351S. Plans for Future Perlods The charit¢5 priorities for 2026 a a5 follows.. The ¢h3ritls prforitles for 2026 are as follows.. Appoint a Developrnent Manager tri build fundrzising capacity and grow uThfestricte(l income. with a tar8et start date of April 2026. Resolve the outstartding matter5 Wlth the Charfty Commission. adopt revlsed Articles of Association and reconvene the Annual General Meeting. Commission and publish a pipeline of research projerts on farn1 policy topics, supported by the new Academic Advi50ry Board. Recruit new trustees wlth complemèntary skills to strengthen the Board. Host the annual conference as a platform for research disseminatiw. networkln8 and supportef enga8èment. Page 3
Family Education Trust Trustees, Report Publish a major research report on housin8 policy and family formation. Develop partnerships with aligned organisations to strengthen the tharStys reath and Influence in family policy. The cNerarching strategic objective is to move the eharity towards financial sustainability by growin8 incorne while rnaintsining the quality and impact of its research programme. Strurture, Governance and Management The Family Education Trust is a charitsble company limited by guarantèe. incorporated on 16 February 1998 nd re8lStered as a tharity on 20 May 1998. The charity is governed by its Memorandum and Arbdes of Association. Revised Article5 of Association were drafted during 2025 with le8al a<Jvite from 8ate5 Wells LLP and are awaitin8 approval from the Charity Commission before they can be adopted by members. Trustee appolTrtments Trustees are appointed by existing members of the Board. havin8 regard to the skills eNperience needed. Durin8 2025, truslees - julie Maxwell and Martin Doe - resigned frorn the Board, brin8ing the number of trustees to five. The Board is actively recruiting new trustees with skills in areas including fundraising. digital communlcatlons and governan¢e, onistional structwe During 2025, the Board undertook an organisational restrLJrturing to align the charlty's stsffin8 model with its Strategic priorities. Following a formal consultation process conducted in accordance with employment law. the Director rde was made redundant at the end of 2025. A new Development Manager p051tion has been created, focused on income 8eneration and fundraisin8. The charity turrently employs one rnember of staff in a PR and comrnunitations role. Day-to-day strategic and research oversight is exerclsed by the Board of Trustees. thar5ty Comrnlsslon èngagement Durin8 2025, the tharlty engaged with the Charity Commlssion on matters relatin8 to governante and charitsble objects. With support from Bates Wells LLP, the Charity has worked constructively through this process. The trustees anticipate re501ution of the outstandin6 matters in eady 2026. enabling the revised Articles of A5SOtiation io be finalised and the Annual General Meetin8 to be reconvened. Durlng 2025. the charity en8a8ed with the Charity Cornrnlssion on matters relating to Bovernante and charitable objects. With support from Bates Wells LLP, the charSty has worked tonstrurtively through this process. The trustees anticipate re501ution of the outstondin8 matters in eady 2026. enabling the revised Articles of Assodation to be finallsed and the Annual General Meeting to be reconvened. Govemance Impmvemènts During the yèar. thè Board advanced several govemance improvements intluding the estab115hment of an Academic Advisw Board to strengthen research quallty assurance, the developrnent of a trustee role profile to support recruttmen¢ and updated policies on conflicts of interest and trustee responsibilitles. Page 4
Family EdUtrOn Trust Trustees, Report Trustees and Officers The twstee5 and offScers serving during the year and since the ar end were as follows-. Trustees: Stephen Balogh Phllip Crabtree Sarah Haire Ezra Kanyimo Tony Ruclnski MartSn Doe (resigned 16 December 20251 Julie Maxwell Irèsi8ned 16 December 20251 Chalrman= Tony Rucinski Treasurer. Philip Crabtree Statement of trustee5' responsibilltles The trustees (who are also the directors of Farnily Education Trust for the purp05e5 of company lawl are re5pon5ible for preparing the trustees, report and the financial statements in accordance with applicable law and United kn'ngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel, intluding FRS 102 'The Financial Reporting Standard appliiable in the UK and Republic of Ireland" Company law requlres the trustee5 to prepère financial siatements for each finaneial year. Under company law the trustees must not approve the financial statements unles5 they are satisfied that they give a true and fair view of the state of aflaits ol the charitable cornpany and of the incomin8 resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and apply thern consi5tently,' observe the method5 and principles In the Charitiès SORP,. make judgements and estimate5 that are asOnable and prudent,. State whether applicable accounting Standard5, comprising FRS 102 have been folltswed. subject to any material departures di5dosed 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 keepin8 proper accountlng records that can dlsclose with reasonable accuracv at any time the financial position of the charitable company and enable them to ensure that the financial statements cornply with the Companies Art 2006. They are also responsible for safe8uarding the 355et5 trf the charitable company and hence for tsking re350nable steps for the prevention and detection of fraud and other Irregularities. The trustees are respoble for the m8intenance and integrity of the corporate and Ilnanci31 information included on the charitable tompany's website. Legislation 8overning the preparation and dissemination of rinancial statements may differ frtrm legislation in other jurisdlctions. Page 5
Family Educatlon Trust Trustees, Report The annual report was appiove(I bythe trustee5 of the charlly on 18 May 2Q26 and 51gned on Sts behalf by.. Philip Crabtree Trltslee PaBe 6
Family Education Trust Independent Examiner's Report to the trustees of Famlly Edu&ition Trust {'the Company'} I report to the charity tru5tee5 (who are also Dirertors for the purpose of company lawl on my examiTration of the accounts of the Family Education Trust I'the tharitable compan(1 for the year ended 31 December 2025 which comprise the Staternent of Finanaal Activities. the Balance Sheet and related notes. This report is made solely to the charit5 trustees, as a body. in accordance with section 145 01 the Charitie5 Act 2011. My work has beeft undertaken so that I might stale to the charitys trustees those matters l am rEquired to state to them in this report and for no other purpose. Tct tbe fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the tharity'5 tNstees a5 a bodyi for myworK forthis report, or for the oplnlons I have fornied. Responslbllltlés and basls of report As the chariVs trustees of Family Education Trust you are responsible for the preparatlon of the accounts in accordance with the requirements of the Companies Art 20061'the 2006 Attrl. Having satisfied myself that ihe accounts of Family Education Trust are not requirèd to be audited under Part 16 of the 2006 Act and are eligible lor independent examination, I report in respect of my examination of your Charl5 accounts 35 carrled out under section 145 of the Chèrlties Act 20111'the 2011 ACYI. In carryin8 Out my examinatlon I have IDllowed the Direttions given by the Charrty Cornmission under Section 14515llbl of the 2011 Art. An independent examinatlon does not 5nvoe gathertng all the evidence that would be required in an audit nd consequently doe5 not cover all the matters that an auditor consider5 in giving their opinion on the financial 5tstements. The planning and conduct ol an audit goes beyond the limited assurance that an independent examination can provide. Cgnsequently l express no opinion as tts whether the financial ststements present a 'true and fairf view and my report is limited to those 5pecifit matters Set out in the Independent examinerfs ststement. Inilependent examinerfs Stateme I have completed my examinatlon. I confirm that no matter5 have come lo my attention in connertion with the examination giving rne cause to believe- l. accountin8 records were not kept in respeet of Family EducatSon Trust as required by section 386 of the 2006 ALt.' or 2. the accounts do not accord with those records; or 3. the accounts do not Cgmply with the accounting requirements of Section 396 of the 2006 Act other than any qLl1rernent that the accounts give a 'true and fair view, which is not a matter considered as part of an independent exarnination,. or 4. the accounts have not been prepared in accordance wth the methods and prfncSple5 Qf the Statement of Recommended Pradice for accounting and reporting by charities applicable to chaTltie5 preparin8 their ccounts in accordance with the Financial Reportin8 Stsndard applicable in the UK and Republic o* Ireland IFRS 1021. I have no cortcems and have come across no other matters irh ¢onnectioTh with the examination to which attention should be drawn in this report In order to enable a proper understandin8 of the accounts to be reached. Page 7
Family Educatlon Trust Independent Examiner'5 Report to the tNstees of Famlly Education Trnst I'the Cornpany,) Tim Sullivan FC4 Field Sullivan Ltd 9 Hare & Billet Road Blatkheath SE3 ORB Date.. Page 8
'11 '141111 1111 mo Lfi
Famlly Educatl(m Trust (Registratlon number: 035035331 Balan Sheet as at 31 Defflber 2025 2025 Fixed •%setS Investments 607.319 743,878 rront asset$ Debtors Cash at bank and in hand 14 2,735 47A02 3,271 26.701 50,137 29,972 rJe41horAnxwrts lallln¥ due wlthin one #r 19,894 14,9291 Netfurrertas5ets 40,243 25,043 Net assets 647562 768,921 Fund$otthe ¢hriV. Unrstrfctl (n¢omo fvnds Unrestricted fijnds 647,562 768,921 Trtallwds 17 647,562 768,921 For the financial year endlng 31 December 2025 the £harlty was entitled to exempticffi from audit under seLtion 477 of ihe CompaTriesAct 2006 relatire to smèll cornpani Direttors, re5pon5Ébdlties'. The members ha requlrèd the charity to obtain all audit of its aco)unts lor the year In questr.on In oc¢¢rdttnce wlth sectlon 476,. ond The dlredors atknowledge their responsibilitle5 for comptylnE the requtrement5 of the Act with rwLt to 3ccountin8 re¢ord5 and the preparation of iccount& The ffinancial statements Dn pèges 9 to 20 were approved by the tmstees, and authorised for issue on 18 May 202S and sSgned on th'eir behawby: Phlip CrObte Trustee The M)teJ on pages 11 to 20 forrn an Integral part of these financiJl 5tatsments. Page 10
Famlly Education Trust Notes to the Flnancial Ststements for the Year Ended 31 December 2025 I Charlty status The charity is limited by 8uaranteÈ. incorporated In England & Wales, and wnsequendy does not h3ve share capital. Each of the trustees is liable to ¢gntribute an amount not exteeding £10 towards the assets of the charity in the event of liquidation. The address of its registered office is.. 7 Bell Yard London WC2A 21R These financial staternents were authorised for Issue by the trustees on 18 May 2026. 2 AccountSn8 policies Summary of slgnificant accountlng poll¢les and key accountlnz tIMate$ The principal accounting policies applied in the preparation of these financial ststements are set out below. These policie5 have been consistently applied to all the years presented, unle5S Qtherwise stated. ststement of ¢ompliance The financial statements have been pPared in accordante with Accounting and Aeportln8 by ChaTitie5'. statement of Recommended Practice applicable to charities preparin8 thelr accounts in accordance with the FinancSal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive l January 20191- ICharitie5 SORP IFRS 1021 Setond edilion October 20191. the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. They also comply with the Corhpanles Act 2C(6 and Challties Act 2011. Bas15 of prepaTatk* Family Education Trust meets the definitlon of a public benefit erntity under FRS 102. Ass$ and liabilities are initially recognised at historical tost or transaction value unless otherwi9e stated In the rèlwant accountin8 policy notes. Goln8¢oncern The trustees Consider that there are no material uncertaintles about the ¢harity's ability to continuè as a 80in8 concem nor any significant area5 01 uncertalnty that affect the carrying value of assets held by the tharity. d8ements and keysour¢es of estimatlon ubertainty In the application of the ¢hariWs accouniin8 poll¢ie5. the trustees are required to make lud8ements. Èstirnates and assumptitshs about the carrying amount of assets and liabilities that are not readily apparent frorn othÈr sources. The estimates and associated 35sumptions are based on historical experience and other factors that arÈ considered to be relevant. Actual results rnay differ from these estimates. The estimate5 and undedyins as5urnptions are reviewed on an ongoing basis. Revlslons to accounting estimates are recogni5ed in the period5 in which the estimate is revised Whe VisIonS affects only that per1r. or In the period of the revlsion and future period5 where the revisions affects both current and future periods. Pa8e 11
Famlly Education Twst Notes to the Flnanclal Statsments for the Year Ended 31 December 2025 Intome and endowrnents All intome is recognised once the tharrty has entitlement to the Incorne, it is probable that the income will be reIved and the amount of the in¢ome receivable can be me&8ured rellably. Donotlon5 und lewcle5 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 elther those conditions are fully met, or the fulfilment of those conditions is wholly within the control ol the charity and it is probable that these conditions will be fulfilled in the reporbn8 period. In¥*stment Incoffte Dlvidends are retognlsed once the dividend has been declared and notlfication has been recelved ol ihe dividend due. Expèndtture All expenditure is recognised once there is 3 legal or constructe obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocated tg the applicable expenditure heading that a88regate similar costs to that category. Where costs cannot be directly attributed to particular headin8$ they have been allocated on è basis consistent with the use of res¢wrtes, with centr31 stsff costs allocated on the ba515 of time spent, and depreciation charges allocated tsn the portion of the assefs use. Other sUPPOrt costs are allocated basetl on the spread of staff costs. Rotslngfvnds These are costs incurred in attracting voluntary incomè. the mana8ement of investments and those incurred in tradin8 activities that raise funds. Charitable expenditure wrnprises those costs incurred by the charity in the delivery of its artlvlties and services for it5 beneficlaries. It include5 both costs that c3n be allocated directly to wch activities and those tosts of an indirect nature necessary to 5UPPQrt thern. Grnntprowsions Provision5 for grants a made when the intention to make a grant has been communlcated to the recipient but there 15 uncertainty about elther the timing of thegrant or the amount of grant payable. Support costs Support costs iThclude central functitsns and have been allocated to artwity cost cète8OTies on a basi5 COn515tent with the use of Tesources, for example, allocatin8 property tosts by floor areas. or per capits, staff cost5 by the time spent and other tosts by thÈir usage. Page 12
Family Education Trust Notes to the Financial Statements for the Year Ended 31 December 202S Tall0 The charity is consldered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Ateordingly, the charity is potentially exempt from taxation in respe¢t of income or capital Bains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sertlon 256 of the Taxation of CharBeable Gains Act 1992, tg the extent that such income or gain5 a applied *x¢lusivety to charltsble purptsses. TgIble fixed a$5ets Indlvidual fixed a55ets tosting £500.00 or more are initially recorded at ¢osi. Oepreclatlon and amortisatlon Depreciation 15 provided on tan£Sble fixed asset5 so as to write off the cost or valuatlon, les5 any estimated residual value, over their expected useful economic life a5 follows.. A55et class Fixtures, fittin85 and equipment 1)eprètia0n method and rate 25% reducln8 balance method Flxed asset irtvestrnents Fixed asset investments, other than programme related Investrnents, are included ai markèt value at the balante sheet date. Realised gains and losses on investments are calculated a5 the difference bétween sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of Financial ArtNitie5 in the pertod of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or ¢har8ed to the Statement of Financi31 Activities based on the marketvalue at the year end. Trdde detstors Trade dÈbtors are amounts due from customers for merchandise sold or services performed In the ordinary course of business. Trade debt0 are recognised initially at the transaction prite. They are subsequently measured at amortised cost using the effectwe interest method, less provision for impalrment. A provision for the impairment of trade debtors Is established when the is objective evidènte that the charity will not be able to collect all amounts due according to the original term5 of the recelvable5. Cash and cash equivalents Cash and cash equivalent5 comprisè tash on hand and call deposits, and other short-terrn hlghly liquid investments that are readily convertible to a known amount of cash and are subjert to an insignificant risk of change in value. Page 13
Family Education Trust Notes to the Flnanclal Ststements for the Year Ended 31 December 2025 Tradè tredltor$ Trède creditor5 are obligatK*ns to pay for 8oods or seryices that have been acquired in the ordlnary course ol busines5 from suppliers. Accounts payable are classified as current liabilitie5 rf the charity doe5 not have an unconditiofial right. at the end of the reporting period. to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional ri8ht to defer settlement for at least twefve monlhs afterthe reportln8 date, they are presented as non<urrent liabilities. Trade treditors are recognised initially at the trartsattlon pdce and subsequently measured at amcrtised cost Usingthe effective interest method. Pensions and othtr post rethmeTht obli8atii)Iis The charity operates a defined Contribution pension Scheme whi(h is a pension plan under whlth fixed contributions are paid into a pension fund and the charity has no le831 or eonstructive obligation to pay further contributions even il the fund does not hold sufficient assets to pay all employees the benèllts relating to employee servite In the current and prior periods. Contributions to defined contribuifjon plans are recognised in the Statement of Flnancial Activitie5 V4hen they arè due. If contribution payments exceed the contribution due for service. the excess is recogniseil as a prepèyment. 3 Incomtfrom donatlgns and le8a¢les Unrestrlcted fund5 General Restricted funds Totsl Z025 Total 2024 Donation5 and legaties., Donations and gifts Gift aid reclaimed 21.492 2,797 15,000 36.492 2,797 28,757 3,369 24.289 15.000 39.289 32,126 Page 14
Famlly Education Trust Notes to the Financlal Statements for the Year Ended 31 December 2025 4 Income frorn tharltsble artlvltTres UnTh5tri¢ted funds Gentral Total 2025 Total 2024 Other sncome 1.483 IA83 939 5 Investment IncomÈ Unreslrlrted fund5 General Total 2025 Totsl 2024 Interest receivable and similar income- Interest receivable on bank deposits Income from listed investmefits 16 15,474 16 18 15,474 20,198 15,490 20,216 6 Expenditure on ralslng funds al Investment mana8ement costs UnrerItted funds Designated Total 2025 Total 2024 Note Other investment management costs; Arnounts payable to investmènt managers L357 1,357 1.523 1,357 1,357 I23 Page 15
Family Education Trust Notes to the Flnanclal Statements for the Year Ended 31 December 2025 7 E¥pendlture on charltsble artlbities Totsl 2025 Totsl 2024 Note Research and rjevelopment Promotion and education Other direct costs 25,459 9,452 7,113 iO,(KM) 14,(M)8 4.565 GrantlundSnB of activities Staff costs Support ¢osts li 104,221 29,817 90.344 32,773 191,062 151,690 Indtjded in the expenditvre an3lysed above, there are silPPOrt costs of £29,81712024 - £32,773) whFch relate directly to tharttable activlties. See ngte 9 fo¥ further detsils. 8 Tax*ion The charity is a registere(I charity and is therefore exempt from tsxotion. 9 Anlysls ot support Costs Support tosts Total 2025 Totsl 2024 AdiniStratIon expenses Independent examination Legal and professional fees Bank tharges 4,088 2,694 22.914 121 4.401 2.616 25,516 240 29,817 32,773 10 Truste remuneratlon and expenses No trustees. nor any persons connected with them, have received any remuneration from thè eharity tlurin8 the year. No trustee5 have receNed any reimbursed expenses or any other benefits from the charity durin8 the year. Pa8e 16
Famlly EdtIOn Tntst Notes to the Financlal Statements for the Year Ended 31 December 2025 11 Staff cost5 The a88regate payroll costs were a5 ftsllows: 1025 2024 siaff costs durinethe yÈar were: Wa8es and salaries Social security costs Pension costs 93.521 2,119 8,581 79,OCKS 3,053 8.285 104,221 90,344 rhe monthly average number of persons lintluding senior management I leadership team) employed by the charity during the year expressed as full time equivalents was a5 follows.. 2025 No 2024 No Opeiational NO eploYee received emoluments of more th3n £60,0(X) durin8 theyear. The total employee benefit5 of the key mana8ement personnel of the charity were £62,58612024. £54,067). 12 Tanglble fixed assets Fwnitwè and equlpment Totsl Cost At l January 2025 Disposals 1,746 11,1571 1,746 11,1571 At 31 December 2025 589 589 Depre¢latlon At I january 2025 Eliminated on disposals 1.746 11,1571 1,746 11.1571 At 31 December 2025 589 589 Net book value At 31 December 2025 At 31 December 2024 Page 17
Family Education Trust Notes to the Flnanclal Statements lor the Year Ended 31 December 2025 13 Rmed asset investments Other Investments Listrd Investments Unlisted investments Ttstal Cost orvaluatign At l January 2025 Revaluation 693,317 16,283 1102.6191 50,561 743.878 16,283 150,2231 1152.8421 Disposals At 31 Dember 2025 606,981 338 607,319 Net book value At 310ecember 2025 606.981 338 607,319 At 31 December 2024 693,317 50.561 743,878 14 Debtor5 2025 2024 Other debtors 2,735 3,271 Cash and 5h equirdlents 2025 2024 Cash at bank 47.402 26,701 16 Credltots: amounts lalling due whhln one year 2025 2024 Trade creditors Accruals 72 2.694 4,929 9,894 4,929 Page 18
Family Education Trust Notes to the Flnanclal Statements for the Year Ended 31 December 2025 17 Fund5 Balance at 31 December 2025 Balance at l January 2025 Other recognlsed Bain¢10sSe9) Incoming Resources resources expendÈd Transfers Unrestrlcted fvnds Geneml General Funds 25,043 41,262 1176.0621 150,0(XJ 40,243 Dnuted Endowment fund 743,878 11,3571 11s0,cKoI 14.798 607.319 Totsl unrestrirted funds 768.921 41,262 1177,4191 14,798 647.562 Restritted funds Keystone Tutors 15,O)0 I15.0} Total fvnds 768,921 56.262 1192,4191 14.798 647,562 Balance at l)ther 31 re¢oBnlsed Decem1 Translers Kalnslllosses) 2024 Balance at l January 2024 In¢omln¢ resources Resources expended Vnre5trKtèdfiS 6enerol General Funds 73,452 53,281 1151,6901 50.oc 25.043 Deslpntrted Endowrnent fund 745,128 1,5231 150,Crf)01 50,273 743,878 Total funds 818,580 S3,281 1153,2131 50.273 768,921 The specifi¢ purposes for whith the funds are to be applied are as follows.. Keystone Tutors funds received on behalf of Keystone TOr$ to cover their 501ititor's fees in relation to 'end smart phone5 in schools. proiert. Pa8e 19
Famlly Education Trust Notes to the Flnanclal Statements for the Year Ended 31 December 2025 18 Analysls of net assèts between funds Currentperlod Totsl funds at 31 December 2025 Unre51rlrted funds General De51gn4ted Fixed asset investments 607,319 607,319 50,137 19,8941 Current assets 50,137 19.894 Current liabillties Total net assets 40243 607,319 647.562 preoU$ period Total funds at 31 December 2024 Unrestrltted fvnds General Desl8Mted Fixed asset investments 743,878 743.878 29,972 14,9291 Current assets 29.972 14,929 Current liabilities Total net assets 25.043 743,878 768,921 19 Related partytransactlons During the year the charity made the following related party transattions.. During the year donatlgns of £5212023= £S591 wère received from trustees and related parties. PaBe 20