Trustees annual report and financial statements For the year ended 31 August 2025 Anna Freud building the mental wellbeing of the next generation Contents References and administrative details Welcome message Objectives and activities Our strategy and goals Supporting our people Strategic report Achievements and performance 13 Sustainability 16 Financial review 21 Structure, governance and management 23 Plans forthe future 26 Trustees ond auditors 28 Independent auditor's report to the members of Anna Freud 32 Financial statements 60 References References and administrative details The Anna Freud Centre, operating as Anna Freud, is a registered charity, number 1077106, and a company limited by guarantee, company number 03819888. Board of Trustees Ms Catherine Bedford Ms Tori Cadogan Ms Antonia Cowdry Mr Andrew Evans Ms Anne-NAarie Huby Ms Pamela Hutchinson OBE Ms Namrata Kamdar Professor Linda Mayes NAD Mr Peter Oppenheimer Mr Daniel Peltz OBE Mr Dominic Shorthouse (resigned 03.12.24) Professor Stephen Pilling The Hon Michael Somuel MBE Ichoirl Dr Sarah Wood OBE (resigned 12.03.2025) Auditors Haysmac LLP 10 Queen Street Place London, EC4R IAG Bankers Barclays Level 12. 1 Churchill Place London, E14 5HP Investment managers Cazenove Capital l London Wall Place London EC2Y SAU Key management personnel Chief Executive Professor Eamon Mccrory (appointed 01.09.241 Chief Operating Officer and Company Secretary: Ros Bidmead (until 11.08.251 Company Secretary: Dorothy Kimani (appointed 11.08.251 Chief People Officer: Marjorie James FCIPD Chief Financial Officer: Christine Kanu luntil 12.12.241 David Fowler (from 06.01.25 until 03.11.251 Executive Director of Finonce: Louise Posocco (from 03.11.251 Applied Research and Evaluation Dirertor: Professor Jessica Deighton Schools Director: Jaime Smith, MBE Education and Training Director and Clinical Director: Claire Evans Medical Director: Dr Dickon Bevington, MA MBBS MRCPsych PGCert FRSA For key management remuneration, please see page 46. Patron Her Royal Highness, The Princess of Wales Registered address 4-8 Rodney Street London, Nl 9JH 020 7794 2313 Welcome A message from Professor Eomon Mccrory, Chief Executive, and The Hon Michael Samuel MBE, Cmairofthe Board ofTrustees We live in a rapidly chonging and unsettling world. with the external environment shifting greatly in the year ending 31 August 2025. A new Lobour government, elected in July 2024. brought promise of change within the landscape of education and health funding, but also warnings of budget deficits and challenging commissioning. Our communities witnessed extremist protests on their streets while conflicts in Europe and across the world dominated the news agenda. Children, young people and families saw scenes of these crises on their smartphones daily. All of this will undoubtedly not have helped improve mental health in children and young people. Statistics released in June showed that one in four young people aged 16 to 24 had o common mentol heolth condition, o rise of more thon a third since 2014. In oddition. more than half o million young people were reported to be on waiting lists for mental heolth support. Within this challenging environment, Anna Freud responded. As the funding environment worsened, we acted to reduce our costs. becoming leaner and more agile. We took firm and decisive action to safeguard our financial future, setting at the same time, the foundations for future growth. Our efforts to support children, young people and fomilies also continued, as did our impact. Within our Schools Division, we delivered high quality training to 4,282 educotion professionols olongside direct theropeutic support to 1.900 children ond young people. Our Clinicol Division delivered a trauma-focused cognitive behovioural therapy progromme for parents ond children offected by domestic violence. And our Nationol Autism Trainer Programme morked its final year of operotion. having trained more thon 5.200 professionals over the lifetime of the project. Young people's voices and lived experience were integral to these outputs and successes. Our internal Participation team supported more than 70 opportunities for our Young and Parentlcarer Champions to continue to influence our work while research projects, led by our Applied Research and Evaluation Division, listened directly to young people about their mental health. The year ending August 2025 was the penultimate year of Closing the Gop - Anno Freud's first organisotionol-wide strategy. We will be working with colleagues in the year that follows to review its success and determine what comes next, in order to ensure we ore well positioned to meet the changing needs for children and young people 2025126 will be the story of how we move into that new strategic phase. We look forward to sharing how this work progresses next year. Objectives and activities Anna Freud is a pioneering mental health charity, transforming care for children and young people through science. collaboration and clinical innovation. Our research sheds light on why mental health problems develop so we can design new approaches to prevention and intervention with children, young people, families and communities. We share our expertise through training, and help services and policymakers improve the systems that shape young lives. In a rapidly changing world, we champion fresh, practical approaches that give every child the opportunity to thrive. Ourvision Our vision is a world where all children and young people can reach their full potential., a world where the right support is available at the right time. Our mission Our mission is to close the gap in mental health and wellbeing by advancing, translating and sharing the best practice with those who impact the lives of children, young people and families. Our values underpin all of our work. See our organisational values on our website. Our strategy and goals Our 2022-2026 Closing the Gap strategy outlines how we will close the gaps in mental health support so all children and young people can reach their potential. We want to close gaps in science, implementation and knowledge to empower parents, carers and professionals to support children and young people. Closing gaps in science: we can only support mental ill health if we understand its causes. We will conduct cutting-edge research and listen to lived experience and widen participation to develop new and better solutions. Closing gops in implementation: we will design and test new opprooches to improve available support. Closing gaps in knowledge: we will shore knowledge of what works ond best proctice, providing troining to empower professionals with the skills ond understanding to support children and young people. Download our full strate Supporting our people We believe our people are our greatest asset and that they work best when they're supported. We support our colleagues through: Wellbeing support: all staff have access to a third-party employee assistance programme, can dedicate one Wednesday afternoon a month to a wellbeing activity and finish at 15:00 every Friday. Flexible working: we support hybrid working and offer fully remote work during the summer, to support those with caring responsibilities. Inclusion: This is the penultimate year of our 2022-2026 Equity. Diversity and Inclusion Strategy. Read about our recent impact on page 11. Employee voice: Our Employee Voice Forum is a group of 11 colleagues elected to represent the views of colleagues and support decision-making across our organisation. Read more about how our People and Culture team is supporting colleagues as part our People Strategy on page 10. Strategic report J. Achievements and performance Education forwellbeing UK Trauma Council Closing gaps in science, Closing gaps in science implementation and knowledge and knowledge We successfully launched the findings of One in three children and young people the Education for Wellbeing trials. are exposed to a potentially traumatic Through this trial. we evaluated event before they are 183 increasing the five mental health and wellbeing risk of mental health problems later in interventions across 513 schools life. The UK Trauma Council IUKTCI is an involving 32,655 pupils. The results Anna Freud project that aims to reduce from the programme were mixed but the impacts of childhood trauma through highlighted one particular intervention. support and education. It is the first UK- developed by our Schools Division, that wide group in its field to bring together benefited young people. Education practice. policy and lived experience. leaders and Mental Health Support In the year ended 31 August 2025, Team staff were able to sign up for our U￿c launched.. training in this intervention, helping us translate science into practice. Findings also provided recommendations around implementation, selecting evidence-based approaches, and monitoring outcomes in the longer term. a collaboration with Refuge to co- develop an intervention to support children and mothers who have experienced domestic abuse a major online resource to support commissioners and decision-makers to improve mental health provision for children in care a funded review to inform national practice guidance for supporting asylum seeking and refugee children. National Autism Trainer Programme Closing gaps in knowledge The National Autism Trainer Programme a partnership with AT-Autism, commissioned by NHS England to improve autistic people's experience of care in mental health services - was successfully delivered on time and, by the end of March 2025. had trained over 5,200 professionals. It was a huge endeavour undertaken by an incredibly committed team alongside autistic trainers and academics. Feedback from sites and trainees was overwhelmingly positive, and we hope that the learning from this programme continues to improve the experience and life outcomes for autistic people. Support for schools and colleges Supporting parents and children impacted by domestic violence Closing gaps in implementation We delivered a troumo-focused cognitive behavioural therapy programme for parents and children affected by domestic violence. This initiative. created in partnership with the charity, Refuge, provided therapeutic support to 22 families in 2024125. Closing gaps in implementation and knowledge We continued to support education staff to embed a whole-school approach to mental health and wellbeing through our training and services. Our evidence-based school resources and toolkits provided proctical tools for education staff through our Mentally Healthy Schools resources hub and Schools in Mind network, which had more than 39,400 members by the year end. They were complemented by our Schools in Mind webinars which had 3,157 bookings over the year covering themes of self-harm prevention, healthy relationships and staff wellbeing. Over the year, we had 4,282 attendees on our education professionals training, including 697 Senior Mental Health Leads. Meanwhile our Schools and Colleges Early Support Service - a mental health service provided remotely delivered therapeutic evidence-based interventions to 604 young people. The service also worked with 1,381 parents and carers and 542 school and college staff to increase their knowledge and understanding of mental health to support young people in schools and colleges across England. A centrol aim of the programme is to oddress inequities in occess to troumo- informed care with the majority of fomilies engoged to dote coming from minoritised communities. Our intervention demonstrated promising outcomes with parents showing a reduction in self-reported symptoms of post-troumotic stress disorder. New distance learning Msc in Psychology and Trauma Closing gaps in science and knowledge We prepared for and marketed o relaunch of a Psychology and Trouma (Child and Adolescent) hASc/PGDip/ PGCert. This programme built on ourfirst fully online postgraduate. first launched in 2023. In total. 3 1 students enrolled in our distonce learning provision overthe academic year: a figure we expect to double in 2025126 with this new ond importont leorning provision centred on troumo. Changing ourselves We continually adapt our orgonisotion to meet the needs of children ond young people, and respond to the external environment. In line with our strategic goals. we hove t(Jken several steps towords transforming ourselves over the past year. Management development Our Organisational Development team launched our Management Development Programme IMDPI to strengthen management capability across Anna Freud. The programme has now been delivered to two cohorts, with a third due to start in November 2025. The programme's design and delivery drew on the expertise of colleagues from across the organisation, each contributing their specialist knowledge and experience to create a rich and engaging learning experience. Alongside the MDP, we have continued to grow our mentorship programme to provide more tailored support to colleagues; introduced o comprehensive out-placement offer for staff offected by organisational change,. enhanced our apprenticeship offer; and delivered training on conducting effective review and development conversations. Finally, we launched a new Behavioural Framework shaped by staff focus groups - to embed our values, and support career development and progression conversations. People operations We focused much of our efforts in 2024125 on innovating and streamlining our processes to improve the customer experience of our managers and employees. Many of our once, administration-heavy processes have now been automated using a Microsoft Forms single-point-of-entry. We also innovated within recruitment introducing a new five-step process for recruiting managers that has produced measurable improvements in workforce talent and diversity. Our HR Business Partnering team provided valuable support both to managers and colleagues during a challenging programme of structural change, providing specialist employment law advice and effective communication and involvement skills. 10 EDI Delivery in year three of our four-year Equity. Diversity and Inclusion Strategy saw a number of notable successes across our objectives: Representation: We improved our people data and reporting to better understand where we may be losing diverse talent from our recruitment processes - whether that be in attracting a representative pool to apply, or at shortlisting or final appointment stages. Inclusion and belonging: We launched an inclusive and compassionate leadership module delivered as part of our new Management Development Programme in collaboration with our Head of Organisational Development. Continuous learning: We continuously updated our Management Development Progromme based on attendee feedback, including broadening the eligibility criteria to include aspiring managers. Community wellbeing: Our HR Business Partners delivered a wellbeing-focused module os port of the Monogement Development Progromme. We olso lounched a new employee benefits ond recognition platForm, which offers colleogues a range of wellbeing-focused material. Participation We're committed to listening to and learning from the voices of children, young people, parents and carers in all aspects of our work. To do this most effectively, we've adopted the Lundy model of participation a rights-based approach that creates a framework for us to hear, listen to and act upon the voices of those we work with. Our Participotion team led this workstreom across 2024125. Through our Champions programme, young people, parents and carers volunteered for one- off activities while our paid Participation Programme Assistants provided a lived experience consultancy service to Anna Freud. Throughout the year, the team.. supported 73 opportunities for young people, porents and corers to influence our work. This included co-delivering participation training to professionals and oppeoring in the BBC Lifeline Appeol. supported by our Fundraising and Brond, Marketing and External Affairs teams. became an AQA centre, allowing us to offer formal accreditation to anyone involved in our participation activity celebrated the anniversary of the launch of Participation Strategy at an all-staff forum event, inviting young people. parents and carers to share their feedback launched the Lundy Model Network on Linkedln to celebrate and showcase practice around rights-based approaches to child and young person participation delivered four in-person Lundy training sessions to Blackburn and Darwen Children's department and one in-person session with Camden Council Children's Department. 11 Digital transformation We enhanced user experience and accessibility across our Anna Freud website by implementing a self-service booking portal, new components and technical improvements that raised the site's health score. We also improved data insight and user options - with updated analytics tracking - across the Anna Freud and Mentally Healthy Schools websites and strengthened digital services for the Schools and Colleges Early Support Service. This included improving referrals, triage, scheduling, outcomes measurement and resource access. Brand, Marketing and External Affairs Much of our work in 2024125 centred on improving our processes to streamline and standardise our work. We also delivered change by: supporting inputs into a series of NHS and government consultations, including the 10 Year Health Plon and Curriculum and Assessment Review welcoming our local MP, Dame Emily Thornberry, to our London office. At this event, we shored successes and learning from our work supporting VESS London 'The Safe Place, on olliance of organisations supporting children and young people impocted by violence and exploitation. VESS stands for the Violence and Exploitation Support Service. orgonising two oll-stoff forums. bringing colleagues together to look forward to our new strategy continuing to provide brand, marketing ond communications expertise to support delivery of strategic, contractual and income-generating activities. 12 Sustainability Streamlined Energy and Carbon Reporting Consumption (kwh) and greenhouse gos emission (tC02e) total This report summarises our energy usage. emissions, efficiency actions and performance under the Streamlined Energy and Carbon Reporting regulations. These regulations require us to report our greenhouse gos emissions from scope one, two and three, lelertricity. gas and transport) every yeor. Our report has been prepared in line with the Njarch 2019 Department for Business, Energy and Ind ustrial Strategy IBEISI guidelines. We have included measured emissions from activities that we have financial control over as required under The Companies (Directors, Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, unless otherwise stated in the exclusions statement. This is our fourth year of reporting on the consumption and associated emissions for our operations. Scope one consumption and emissions relate to direct greenhouse gas emissions that occur from sources we control or own le.g., fuel combustion in boilers. f urnaces, vehicles). Scope two consumption and emissions relate to indirect greenhouse gas emissions associated with the purchase of electricity, steam, heat and cooling (gas and electricity use in buildings). Scope three consumption and emissions relate to emissions resulting f rom sources not within scope one and two, including business travel (vehicle, air and raill, disposal and treatment of waste generated in operations. 13 Totals Total consumption Ikwhl figures for our reportable energy supplies.. Utility and scope 2025 consumption Ikwhl 2024 consumption Ikwhl Gaseous and other fuels (Scope one) 342.354 374.066 Grid-supplied electricity (Scope two) 256,239 209,221 Transportation Iscope three) 44,230 43,099 Total emission ItC02el figures for reportable energy supplies (conversion factors used in these calculations are detailed in the appendixl= Utility ond scope 2025 consumption ItC02el 2024 consumption ItC02el Goseous and other fuels (Scope one) 62.31 68.51 Grid-supplied electricity (Scope two) 53.06 44.42 Tronsportation Iscope three) 1.54 1.20 116.91 114. An intensity metric of tC02e per FTE has been applied for our annual total emissions. The methodology of the intensity metric calculations is detailed in the appendix, and the result of this analysis is.. Intensity metric 2025 intensity metric 2024 intensity metric tC02e / FTE 0.36 0.36 14 Energy efficiency improvements We implemented a carbon reduction plan in 2022. A key aspect is ongoing monitoring and driving energy efficiencies where it is cost effective, proportionate and practical to do so. Measures taken in 202412025 As on orgonisation employing more thon 250 people, we qualified for the Energy Saving Opportunity Scheme IESOSI, administered by the Environment Agency. Our Notification of Compliance was submitted in the previous year (August 20241. and our Phase 3 Action Plan in March 2025. The Action Plon included four measures: improvement of monitoring and targeting through the installation of an energy optimiser platform a review of air conditioning set point temperatures in the server room an optimisation programme for the way our Building Management System IBMSI and Combined Heat and Power unit ICHPI work in tandem with each other the oddition of anti-dry cycling units to our boiler We remain active members of the Islington Sustainability Network. Appendix Scope one, two and three consumption and tC02e emissions data have been calculated in line with the BEIS reporting guidance. Emissions Factor Database 2021 has been used, utilising the kwh gross calorific value ICVI and KGC02e emissions factors relevant for the reporting period 01 September 2024 to 31 August 2025. Intensity metrics have been calculated using total tC02e figures and the selected performance indicator for the relevant reporting period: average full-time equivalents IFTEI 32812024.. 3141. 15 Financial review Financial position of the charity The financial statements for the year to 31 August 2025 are shown on page 32 onwords. The result for the year to 31 August 2025 is a deficit of £2.Om12024= surplus of £1.40ml. Our deficit of £2.Om has been in part driven by the loss of large scale programmes. including the National Autism Trainer Programme INATPI. coming to an end during the 2024125 financial year and increases in our cost base. The outlook for income and major training programmes continues to be less certain than in previous years as is the landscape for government funding. where we are seeing delays in the commissioning of new services. This has further exacerbated the already challenging financial position. However. despite this, we have significantly invested in our Closing the Gap strategy which is allowing us to undertake more tailored training and support through the use of research and practice combined with technology. This will be essential to support our delivery through a more economically challenging environment. To manage the challenging financial position, we made significant changes to our underlying cost base by instigating cuts and driving efficiencies where possible. These actions are projected to lead to a breakeven budget in 2025126, taking into account brought forward funds. Further work will continue in 2025126 to diversify income streams and ensure the cost base is as lean as possible while continuing to deliver effective services. Income Income levels ocross our choritoble activities are: Our income for the yeor wos £27.5m12024: £29.3ml of which choritoble income was £22.4m1£24.9ml. Although this represents a 60k decrease of income in large part as a result of the NATP and ANABIT funding finishing mid- year, this sees income levels being on o par with income levels in 2023124 and before. Clinical and preventative services: £1.6m12024.. £1.8ml Education and training: £8.3m12024.' £11.4ml Reseorch: £5.2m12024.' £3.3ml Conference and study events: £4.5m12024.' £5.8ml Schools: £2.8m12024.. £2.6ml 16 Fundraising Our voluntary income has increased by 25% compared to last year, rising from £3.6m in 23124 to £4.6m in 24125. This represents an encouraging step forward, ref lecting both the resilience of our fundraising activity and the continued generosity of our supporters. Despite continued challenges within the fundraising sector and high competition to secure funds, we have achieved steady growth over the past two years, building on strong relationships with existing partners and developing new opportunities that align with our mission and strategic priorities. Voluntary income at Anna Freud is secured from a number of income streams, including trusts and foundations, statutory grants, corporate partnerships and individual giving. Our priority will be to maximise opportunities and ensure our fundraising is sustainable- with a view to diversifying our income mix, where possible. We remain deeply grateful to our committed and generous supporters who provide the opportunity to develop new projects ond invest in reseorch at Anna Freud- fundamental to our work supporting children, young people and families. Expenditure Expenditure levels across our charitable activities ore: Our expenditure for the year to 31 August 2025 was £29.7m12024: £28.Oml of which charitable expenditure was £29.Om12024'. £27.5ml. Not including the £2.Om payment to partners where we acted as a bank as the lead role on the project, with a zero net effect on the accounts, this is a small 2 % decrease reflecting a reduction of resources for the NATP and AMBIT projects. partially offset by continued investment in our Closing the Gap strategy12022-20261. Clinical and preventative services: £3.4m12024: £4.Iml Educotion ond troining: £8.2m12024.' £8.6ml Reseorch: £4.2m12024: £1.7ml Schools: £6.3m12024: £6.Iml User participation and dissemination: £1.4m12024: £1.3ml Research and policy development: £5.5m12024: £5.7ml 17 Reserves Total funds held at 31 August 2025 were £32.Im12024.. £34.Iml of which £25.4m were designoted, primarily for the Fixed Asset Fund12024= £26.2ml. Restricted funds held for the delivery of specified projects were £1.4m12024.. £1.2ml and free and unrestricted reserves were £5.3m12024: £6.6ml. The decrease in free reserves to £5.3m is primarily driven by the operating deficit for the year of £2.Om12024: surplus of £1.4ml. The decrease in free reserves to £5.3m represents 2.3 months of operating expenditure and is £1.6m below our policy of holding a minimum of three months relevant operating expenditure. Anna Freud holds financial reserves to ensure that we can continue to fund ongoing work in the event of any significant disruption or economic downturn. Reserves also provide working capital ensuring that. during the year, we can meet upfront expenditure prior to income being received. Recognising that reserves are below the minimum level required, significant work has already taken place to reduce the cost base for 2025126 and beyond, alongside income diversification. Trustees and Executive are in an active dialogue about the reserves policy and are keeping the financial position under close review, ensuring that we maintain all essential services. This will enable us, over time, to build our free reserves position back up to the three months, expenditure required by our reserves policy. A smaller cost base in the future will also decrease the level of free reserves required. Investment performance Our investment strategy is reviewed by the Board on an annual basis, with interim reviews of performance ot Finance Committee meetings. The investment mandate fully considers environmental, social and governance matters. There is no direct investment in tobacco and we actively avoid investments in companies with significant exposure to alcohol, armaments, pornography, gambling and predatory lending. The overall objective is for investment funds to achieve income and capital growth over and above inflation in the medium to long term. As of 31 August 2025, the funds under investment were £3.Om12024: £2.9ml. Income derived from investments to 31 August 2025 was £0.6m12024.. £0.15ml. The investment portfolio grew by 6 % in the year to 31 August 202512024: 16%) reflecting positive growth over the past two years following a return to more positive investment markets with the decline in the rate of inflation. 18 Going concern The Board of Trustees having reviewed the financial position and financial forecasts have concluded that there are sufficient resources to continue in operational existence for the foreseeable future, being a period of a least 12 months from the date of approval of the financial statements. Although there are net current liabilities of £0.5m as at 31 August 2025 12024: net current assets of £1.5ml, it is recognised that the £3.Om investment portfolio could easily be converted to cash. Trustees are satisfied that Anna Freud continues to have a robust risk management framework including a strong system of financial controls which is sufficient and appropriate for effective management of all known strategic, operational and financial risks. The Boord therefore continues to support the going concern basis of accounting in preparing the annual accounts. Principal risks and uncertainties. Approach to risk management The Board of Trustees is responsible for ensuring that a robust risk management framework is in place for identifying, mitigating and managing risks across all of Anna Freud's activities. The Board is supported by its sub-committees in reviewing and monitoring risks and ensuring that the risk management framework is adequate and effective. The Boards's sub-committees provide critical oversight to the Executive ensuring that the risk management approach is embedded across the organisation, integrated into our annual business planning and reporting cycle and spans all our activities. 19 Summary of potential risks the board has identified Economic environment Financial sustainability is the Board's principal strategic risk. The economic outlook for Anna Freud las for most UK charities) is the most chollenging in a decade. Uncertainty on future government funding is resulting in both the NHS and education sectors reviewing both the timing and scale of their tender for services. The charity sector in general is always chollenged by insufficient funding and increasing demond for services. However. the Executive ond Trustees feel that the outlook for income will continue to be adverse in the coming yeors. Consequently. we have and will continue to review our operations and. in particular. our support services to ensure that we are operating as efficiently as possible, while maximising the benefits from our Closing the Gap strategy. The appointment of a Commercial Director in January 2026 will also best position us for income maximisation and diversification. The plans will be prepared by the Executive and overseen by the Finance Committee. Regular updates will be provided to the main Board via the Finance Committee. Strategic We are entering the final year of our Closing the Gap strategy with ongoing investment required to deliver critical new elements and ensuring that we maximise the return and impact from systems that are in use. We have implemented a comprehensive programme management framework to ensure that we have right people resource to maintain oversight on key deliverables and milestones. Operational delivery The growth in breadth and scale of Anna Freud's activities presents a challenge in maintaining oversight ond governance. We manage this through a combination of oversight from our Boord sub-committees, a robust planning ond performance review process. business continuity plans. risk assessments and evaluation of scenario plans. We have also in 2024125 appointed a new Senior Leadership Team drawn from across the organisation to work closely with the Executive to facilitate operational delivery. This delivers a framework to ensure thot we can respond quickly to unforeseen or adverse events. Cyber security threats The threat of cyber security attacks continues to increase in both volume and sophistication. The charity sector and hospitals have all seen increased levels of threat. Anna Freud has seen an increased level of attack and continues to invest in training for our staff that includes data security training for all new employees and volunteers with annual ref resher training for all staff and volunteers. We continue to ensure that our IT infrastructure is updated and we undertake regular security testing to ensure that our IT infrastructure and data remain secure. 20 Structure, governance and management The Anna Freud Centre operating as Anna Freud is a registered charity Inumber 10771061. It is set up under its Memorandum and Articles of Association as a company limited by guarantee Inumber 038198881. The Boord of Trustees comprises the charity's trustees and the legol directors of the compony. New trustees are selected through open recruitment, during which we oim to ensure representation and fill skills gaps within the board. The Board of Trustees sets and reviews strategy. and monitors operotionol matters SLApported by sub-committees reporting to the Board. See page 22 for a list of our sub-committees and their remits. Our trustees have complied with the duty in section 17 of the Charities Act 2011. to have due regard to the Charity Commission's general guidance on public benefit. 21 Equity, Diversity and Inclusion (EDI) Sub-committee Finance, Audit and Risk Sub-committee The committee monitors and provides guidance on the EDI agenda and the implementation of the EDI strategy. It also monitors the progress of the EDI plon, determines priorities, and provides robust scrutiny and chollenge on EDI issues in our organisation. The committee reviews the annual accounts, internal or external audits, investment and reserves policies. Its membership includes the chair and the treasurer. Matters not reserved for decision by the Boord of Trustees ore delegated to members of the Executive teom, including the Chief Executive, Chief Operating Officer, Chief People Officer and Chief Financial Officer. The People and Culture Sub-committee The committee oversees pay and reward, performance and continuous professional development, including the remuneration of key management personnel with consideration of appropriate benchmarks when setting pay. It regularly reviews staff turnover, satisfaction. disciplinaries and grievances to make recommendations for how we can improve. It also reports on our gender pay gap and works with the EDI Sub-committee to increase diversity, inclusion and equitable opportunities for staff. Quality sub-committee The committee oversees the practice and training interventions delivered by Anna Freud directly to children. young people and families. through direct delivery projects lonline and face-to- facel, research projects, commissioned contracts for services or training activities for those who support the mental health and wellbeing of children. young people and families. It ossures the Board that our practice and training services comply with professional and regulatory standards. The Development Sub-committee The Nominations and Succession Planning Sub-committee The committee supports our voluntary income streoms. particularly from philanthropists, mojor donors and corporates. It identifies and engages prospertive donors and supports engagement octivities. The committee is responsible for the trustee appointment process, reviews the structure and composition of the Board (including the skills, knowledge and experience) and makes recommendations for change. It ensures succession planning for key roles, that leadership needs are met, and the organisation is able to ochieve its aims. Digital and Technology Sub-committee The committee helps the Board and Executive team horness technology to grow our impact and better serve children. young people and families. It shares insights, ideas and chollenges. and ensures we have mechanisms in place to manage digital and technological risks. 22 Plans for the future Next year: 202512026 The world of children and young people's mental health support is changing. 2025126 is the final year of our Closing the Gop strategy and we'll be working with colleagues, trustees ond partners to reimogine what comes next, and how Anna Freud can position itself for the greotest impact. During this time, our divisions will continue to deliver outcomes for professionols. children, young people and families and we'll work to strengthen ourselves. too. The delivery of these ombitions is contingent on f unding, and prioritisation will occur otherwise. Prevention Child and youth mental health in the UK is at a critical juncture. The rising prevalence of difficulties in recent years has made it clear that reactive treatment alone is not enough. At Anna Freud. we believe it is time for a fundamental shift, one that prioritises building strengths. reducing risks and supporting wellbeing before problems become entrenched. In the years ahead, we are committed to leading a national move from late-stage intervention to early, sustained prevention. This means placing prevention science and practice at the heart of our mission= from the way services are commissioned and delivered. to how professionals are trained and supported. While we already work extensively in prevention. particularly in schools and community settings. our future strategy will take a more systematic approach. embedding prevention across individual, family. school. and community contexts, and ensuring national policy and systems reflect this core commitment. Autism Central We will begin delivering the National Autism Peer Education Programme, Autism Central. This is a three-year NHS England-commissioned initiative building on our success with the National Autism Trainer Programme. Autism Central will provide peer-led education, coaching and connection for families, carers and supporters of autistic people. From our launch in October, we will begin to share a programme of support co-produced with parents, carers and autistic people of all ages, ensuring that every element reflects lived experience, respect, and accessibility. Postgraduate training We will begin developing a new one-year, full-time I two-year, part-time MSC to be delivered through the UCL-Anna Freud partnership. The proposed three-part programme is designed to bridge the gap between developmental research and clinical application to better equip graduates to apply psychological insights in real-world contexts such as education, health, social care ond policy. The course will offer innovative and fresh curriculum content in policy and science communications. digitol mental health and artificiol intelligence. It will also emphasise Anna Freud's strengths in evidence-based practice as well as the benefits of monitoring patient outcome data and data-driven approaches. We plan for the course to launch in September 2027, pending approvals. 23 Early years Support for schools We will restructure our clinical practice work to strengthen collaboration, coherence. and shared learning across the organisation. A key priority within this restructure will be the expansion of our early years provision, including the development of a new training curriculum for health visitors. This training, commissioned by the Royal Foundation Centre for Early Childhood, will be developed by a wide range of experts at Anna Freud and the Institute of Health Visiting, with inputs f rom practitioners. professional leaders and parents and carers. Our organisational priorities of prevention and early intervention and our EDI enabling strategy - will be put into action via our support for schools. Our activity will focus on continuing to share our renowned 5 Steps Framework for a whole-school and college approach to mental health and wellbeing. Our offer includes delivery of high-quality training and the dissemination of practical tools and resources. Our clinical work will continue via the delivery of face-to-face and remote direct interventions to young people and their families within school and college communities. This includes delivering psychoeducational workshops, training and resources. Research 2025126 will see us combine our different research teams into a single division for the first time, improving our collaborative working, communications and impact. Central to our research dissemination in the next academic year are two randomised control trials IRCTsl'. More Good Days at School.. This is a national RCT that has investigated how schools can support young people's wellbeing. We've been working with mainstream secondary schools to identify whether those informed and trained to respond to trauma are able to better support students. mental health and wellbeing. Your Choice: An RCT of an intervention to reduce violence for at-risk young people across London. We will also be launching our baseline findings from Growing Up in the 2020s- our DfE funded national secondary school cohort study. And our resources. alongside influencing work with partners including the Schools Wellbeing Partnership and Children and Young People's Mental Health Coalition, will drive inclusion within school and college settings as well as national policy and practice. UKTrauma Council Looking ahead to 2025126, the UK Trauma Council will launch a Department for Education-funded online community of practice, bringing together cross- sector professionals working with young people in complex circumstances. This community will facilitate shared learning, highlight promising practice, and seek to improve outcomes for those most at risk. Elsewhere, UKTC'S partnership with Refuge will enter its final year, focusing on the rollout, delivery and evaluation of a unique, co-produced, evidence-based intervention for children and mothers in safe accommodation. The team will also complete its review of psychosocial support for displaced children and fomilies, which will inform the development of national guidance. 24 People and Culture Enabling strategies - EDI and participation We will continue to react to the external environment in 2025126, improving our foundations and strengthening our ways of working. Within our People and Culture team, we have ambitious plans to further strengthen learning and organisational capability. We will revise and launch a new performance management process, supported by a comprehensive training offer to ensure colleagues have the skills and knowledge to run effective performance management conversations. We will also.. We will markthe final year of our four- year Equity, Diversity and Inclusion strategy by revisiting our midway commitments shared in 2023124. Our Participation team will continue to recruit to ouryoung and Parent and Carer Champions groups and strengthen the training offer we make available to all those who influence our work. Digital transformation Our focus for digital in 2025126 will be: the completion of the current phase of CRM upgrade work to improve information management systems, to boost access. accountability and ease of application of data retention and destruction policies redesigning priority pages of our Anna Freud website and updating content to improve the experience for key audiences developing our first Al strategy to improve our ways of working and inform our support for children and young people's mental health. continue to build on the success of the Management Development Programme by developing a broader management development offer expand our mentoring programme to include access to external mentors launch a new online learning platform to provide colleagues with a wide range of high-quality digital learning modules run a staff survey to gather colleague feedback and insights that will support the continued development of our culture introduce a newjob evaluation framework to support transparency and equity respond to the Employment Rights Bill with updated policies ond guidance review our ways of working to create an agile and flexible workforce. 25 Trustees and auditors Fundraising code of practice We value our supporters and donors and put them at the centre of all our fundraising octivity. We ore registered with the Fundroising Regulator self- regulatory scheme ond as members, we follow the Institute of Fundraising's Codes of Fundroising Practice ond comply with their key principles. Fundraising activities ore not outsourced to professional fundraisers or commercial porticiponts. We ore not aware of any occasion during 2024-2025 when we have been in breach of the Fundraising Code of Practice. Trustees, responsibilities The Trustees Iwho are also directors of The Anna Freud Centre for the purposes of company lawl are responsible for preparing the Trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company low requires the Boord of Trustees to prepare finonciol statements for each financial year which give a true ond fair view of the state of offairs of the charitoble company and of the incoming resources ond application of resources, including the 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 then apply them consistently observe the methods and principles in the Charities Statement of Recommended Practice ISORPI make judgements and estimates that are reasonable and prudent state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. Trustees are responsible for keeping proper accounting records that 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. In so far as we are aware: There is no relevant audit information of which the charitable company's auditor is unaware. The Trustees have taken all steps that they should have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 26 Section172 Companies Act 2006 The Trustees acting in occordonce with Section 172 of the Companies Act 2006 consider that they have complied with their duties with regards to promoting the Charity's success in achieving its charitable PLJrpose to advocate and odvance for public benefit of the awareness, prevention, relief and education of mental illness ondlor disorder. Trustees have overall oversight on the implementation of the strategic priorities from our Closing the Gap strategy and during the year provided rigorous challenge through Board and sub-committee meetings. Long term consequences of decisions Fundraising The breadth ond scope of fundraising The impact of decisions taken at Anna octivities remained f ully compliont Freud are considered over the medium throughout the year with relevant and long term. Strategic goals are fundraising regulations and emerging outlined on page 6 and we share more best practice. about our plans for the future on page 23. Impact in the community Interest of employees and environment During the year, we developed and implemented our People Strategy including the establishment of our Employee Voice Forum. Further information on how we support our people can be found on page 10 of this report. Business relationships with suppliers, customers and others; Acting fairly between members and reputation for high standards Fostering a truly inclusive culture is of business conduct central to our organisational values and underpins the close working relationship Anna Freud is fully committed to ensuring between Trustees, the Executive and the that all our interactions with stakeholder groups ore undertaken in o professional. Senior Leadership Team. ethical. fair and constructive manner. Anna Freud is committed to ensuring thot we carefully consider to the fullest extent possible the impact of our activities on the different communities that we serve. Further information on our sustainability and environmental impact can be found on pages 13 to 15. Auditors The auditors, Haysmac LLP, will be proposed for reappointment in accordance with Section 485 of the Companies Act 2006. The Trustees, report. incorporating the Strategic Report, was approved by the Trustees on 18 March 2026 and signed on their behalf by- The Hon Michael Samuel MBE Chair of the Board of Trustees, 27 Independent auditor's report to the members of The Anna Freud Centre Opinion Basis for opinion We have audited the financial statements of The Anna Freud Centre for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give o true and fair view of the state of Conclusions relating the charitable company's affoirs os at 31 August 2025 and of the charitable to going concern company's net movement in funds, including the income and expenditure, for the yeor then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Proctice; and have been prepared in accordance with the requirements of the Companies Act 2006. We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. In auditing the financial stotements. we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 28 Other information the strategic report and the directors, report included with the Trustees, annual report have been prepared in occordonce with opplicoble legal requirements. The Trustees ore responsible for the other information. The other informotion comprises the information included in the Trustees, annual report and the Welcome from the Chair and Chief Executive. Our opinion on the finonciol statements does not cover the other information and, except to the extent otherwise explicitly stoted in our report, we do not express ony form of assurance conclusion thereon. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, annual report (which incorporates the strategic report and the directors, reportl. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accounting records have not been kept by the charitable company., or the charitable company financial statements are not in agreement with the accounting records and returns; or certain disclosures of Trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so, consider whether the other information is moterially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a moteriol misstatement in the finonciol stotements or o material misstotement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. Responsibilities of Trustees for the financial statements the information given in the Trustees, annual report (which includes the strategic report and the directors, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared is consistent with the financial statements- and As explained more fully in the Trustees, responsibilities statement set out on page 20, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair 29 view, and for such internal control as Based on our understanding of the the Trustees determine is necessary charitable compony and the environment to enoble the preparation of financial in which it operates, we identified that statements that are free from material the principal risks of non-complionce misstatement. whether due to fraud with laws and regulations related to or error. regulotory requirements of the Charity In preparing the financial statements. the Commission, Care Quality Commission Trustees are responsible for assessing ICQC), for GDPR and safeguarding the charitable company's ability to regulations, and we considered the continue as a going concern, disclosing, extent to which non-complionce might as applicable, matters related to going have o moteriol effect on the financial concern and using the going concern statements. We olso considered basis of accounting unless the Trustees those lows and regulations tht have either intend to liquidate the charitable a direct impact on the preparation company or to cease operations. or have of the financial statements such os no realistic alternative but to do so. the Companies Act 2006, FRSIO2, the Charities Act 2011, the Chorities Statement of Recommended Practice ISORPI. payroll tox and soles tox. We evaluated management's incentives and opportunities for fraudulent Our objectives are to obtain reasonable manipulation of the financial statements assurance about whether the financial (including the risk of override of controls) and determined that the statements as a whole are free from material misstatement, whether due to principal risks were related to posting fraud or error, and to issue an auditor's inappropriate journal entries to revenue report that includes our opinion. and manogement bias in accounting Reasonable assurance is a high level estimates. Audit procedures performed of assurance, but is not a guarantee by the engagement team included: that an audit conducted in accordance inspecting correspondence with with ISAS IUKI will always detect a regulators and tax authorities material misstatement when it exists. discussions with management Misstatements can arise from fraud including consideration of known or error and are considered material or suspected instances of non- if, individually or in the aggregate, compliance with laws and regulation they could reasonably be expected to and fraud influence the economic decisions of users • evaluating management's controls taken on the basis of these financial designed to prevent and detect statements. irregularities identifying and testing journals, including journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions challenging assumptions and judgements made by management in their critical accounting estimates. Auditor's responsibilities for the audit of the financial statements Irregularities, including f raud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including f raud is detailed below. 30 Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A f urther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or auditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable compony's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so thot we might state to the charitable company's members those matters we ore required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by low. we do not accept or ossume responsibility to anyone other thon the choritable company ond the charitable company's members os o body, for our audit work, for this report, or for the opinions we have formed. Kathryn Burton (Senior Statutory Auditor) For and on behalf of Hoysmac LLP, Statutory Auditor Date.. 10 Queen Street Place, London, EC4R IAG 20th March 2026 31 Financial statements Statement of f inancial activities, incorporating an income and expenditure account Year ended 31 August 2025 The Anna Freud Centre Charity number 1077106. company number 03819888. Notes Unrestricted Restricted Total funds Total funds funds 2025 funds 2025 2025 2024 e from: Grants, donations ond legacies 787,596 3,803,695 91 3,571,282 Inve5trnents 64.219 64,219 149.212 Charitable activitie& Clinicol & preventotive services 1,591,433 33 1,801.083 Research 1.786,884 3.425.656 40 3,306,587 Education & Training Conference & study events Schools 8,277,918 18 11.412,141 4,512,718 18 5,868.742 2,755,868 2.755.868 2,565.289 18.924,821 3,425,656 22,350.477 24,953,842 Other 500.475 75 559.389 Expen Roising funds Iture on: Fundraising Investment and management fees 632.406 632,406 538,365 27,309 09 19,682 Legal fees 2,403 03 662,118 662.118 558,047 Choritable activities Clinicol & preventotive services 3.063,364 308,120 84 4,125,109 Applied Research & Evaluation 1,183.621 3,049.463 84 1.655,22 1 Education & Training Reseorch & Policy Development 7,859,830 308,481 li 8,597.405 3.387,985 2,089,607 5.477.592 5,683.713 33 Notes Unrestricted Restricted Total funds Total funds funds 2025 funds 2025 2025 2024 Schools 5,042,504 1,283,667 6,326,171 6,068,864 User Participation, Library & Dissemination 1,403,703 16,741 1,420.444 1,328,421 21,941,007 7,056,079 28,997,086 27,458,733 ole nditure 4 22 603 125 7 056 079 29.659.204 28 016 780 Net incomellexpenditurel before investment gains Unrealized gains on investment 12,326,0141 173,272 12,152,742) 1,216,945 152,861 152,861 188,009 Net income I lexpenditurel Net movement in funds 12.173. 1531 173,272 11,999.8811 1,404.954 12.173,1531 173,272 11,999,881) 1.404,954 Funds balance carried forward at I September 12 32,850,326 1,213,602 34,063,928 32.658,974 Funds balance carried forward ot 31 August There were no recognised gains or losses other than as disclosed in the statement of financial activities. All income and expenditure relate to continuing activities. The accompanying notes form an integral part of these financial statements. Full comparatives are shown in note 17. 12 30,677.173 1,386,874 32,064.047 34,063,928 34 Balance sheet Yeor ended 31 August 2025 Registered charity number 1077106, registered company number 03819888. Notes 2025 2024 Fixed assets Tangible assets Investments 35.723,486 35.877.478 3.041,811 2,852,039 38.765,297 38,729,517 Current ossets Debtors 4.614,638 3.931,325 Cash at bank and in hand 1.533,202 4.251,825 6,147,840 8,183,150 Creditors: omounts folling due within one year 9 16,753.3411 16,684.9151 Net current ossets 1605,5011 1,498,235 Creditors: amounts falling due ofter more thon one year io 16,095,749) 16,163,824) Totol assets less total liabilities 32,064,047 34,063,928 Funds 12 General funds 5.299,176 6,638,094 Designated funds Restricted funds 25.377,997 26,212,232 1,386,874 1,213,602 The occompanying notes form on integral part of these financial stotements. The financial statements were approved and authorised for issue by the Board on 18 March 2026 and were signed below on its behalf by.. The Hon Michael Samuel MBE Chair of the Board of Trustees. Andrew Evans Treasurer 35 Statement of cash flow Yeor ended 31 August 2025 Registered charity number 1077106, registered company number 03819888. 2025 2024 Reconciliation of movement in funds to net cosh flow Net movement in funds 11,999,881) 1,404,954 Depreciation charges 1.037,039 785,539 Income from investments 164,2191 1149,2121 Unrealised investment Igainsl 1152,8621 1188,0091 Ilncreaselldecreose in debtors 1683,3131 357.862 Increoselldecreosel in creditors Net cash f low (used inllprovided by operating activities Cash flows from investing activities 351 12,769,465) 11,862.8851 1558,3311 Investment income 64,219 149,212 Purchase of tangible fixed assets Disposal of tangible fixed assets Depreciation charges on Disposal of tangible fixed assets Purchase of investments 1883,0471 1915,7481 70.866 170,8661 164,2191 1149,2121 Disposal of investments 27.309 16,680 (Decrease) in cash 1855.7381 1899,0681 IDecreasel in cash and cash equivalents in the period Cash and cash equivalents at the beginning of the period Cash ond cosh equivolents ot the end of the period 12,718.6231 11,457.3991 4.251.825 5,709,224 1,533.202 4.251,825 sis of cash and cash e uivolent 1.533,202 4.251B25 Note 16 provides further detail of the movement in net debt. 36 Notes to the f inancial statements Year ended 31 August 2025 1. Accounting policies a) Basis of preparation All assets costing more than £1,000 and with an expected useful life exceeding The financial statements have been one year are capitalised. prepared in accordance with Accounting Depreciotion is provided on oll tongible and Reporting by Charities: Statement fixed assets, other than freehold lond, at of Recommended Practice applicable rotes calculoted to write off the cost or to charities preparing their accounts in valuation, less estimated residual value, accordance with the Financial Reporting of each asset on a straight-line basis Standard applicable in the UK IFRS 1021 over its expected useful life, as follows.. leffective l January 20191- (Charities SORP IFRS 10211, the Financial Freehold properties - 1.3396 per annum Reporting Standard applicable in the UK Furnishings and equipment - 25% per IFRS 1021 and the Companies Act 2006. annum The Anna Freud Centre 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 notelsl. Preporation of occounts on o going concern basis b) Depreciation c) Investments Investments are included in the balance sheet at market value. It is the charity's policy to keep valuations up to date such that when investments are sold there is no gain or loss arising relating to previous years. As a result. the statement of financial activities does not distinguish between the valuation adjustments relating to sales and those relating to continued holdings as they are together treated as changes in the value of the investment portfolio throughout the year. The Trustees consider there are no moteriol uncertainties about the charity's obility to continue as a going concern. The review of our tinancial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future. Charity information The Anna Freud Centre Iknown as Anna Freud) is a company limited by guarantee (registered number 038198881. and a public benefit entity and registered charity in England and Wales (charity number 10771061. The address of the registered office is 4-8 Rodney Street, London. N 19JH. 37 d) Income All income is recognised once the charity has entitlement to income. It is probable that income will be received and the amount of income receivable con be measured reliably. With grants and donations, once an award or pledge has been made in writing and if there are no restrictions or constraints on receiving the donation then this will be recognised in full once entitlement is established. All other incomes ore recognised based on the matching principle. and so ore related to the activity. otherwise they remain repayable and so deferred. Grant income is recognised under the accruals basis in line with staff costs. e) VAT Where appropriate, expenditure includes irrecoverable value added tax. f ) Expenditure Direct costs have been charged to the relevant project it has arisen for. Overheads are apportioned across the organisation based on a percentage of direct costs. Governance costs include costs incurred in meeting constitutional and statutory requirements. g) Employee benefits Pension costs The organisation offers employees a 6% contribution towards their pension based on their gross salary. Employees who do not opt out of the scheme are members of a group personal pension contributory system with Royal London. odministered by The Anna Freud Centre. Short-term benefits Short-term benefits including holiday pay are recognised as an expense in the period in which the service is received. Employee termination benefits Termination benefits are accounted for on an occrual bosis and in line with FRS 102. 38 2. Grants and donations Year ended 31 August 2025 Registered charity number 1077106, registered company number 03819888. 2025 2024 Unrestricted f unds Unrestricted generol 787,596 629.618 Unrestricted totol 787,596 629,618 Restricted funds Clinicol Early Years Core Funding Munthe Family 50.000 50.000 Anonymous donor 3,600 3.600 City Bridge Trust Campaign for Learning - Family financial resilience Kailo Project 27.301 20,734 University College London 57.707 129,333 Child Psychotherapy Services The Chesser Trust 15.000 15,000 Anonymous donor 3.600 3.600 Lord Leverhulme Charitable Trust 4.700 Virtual Mental Health Leads The Royne Foundation Family Trauma STAMS Clinical 25.000 The Lightbulb Trust Lord Leverhulme Charitable Trust 5,000 6.300 Sundry donors 250 Reflective Parenting= Speciol Anonymous donor NCEL Family Stories Compass Wellbeing CIC Building Bridges - Barnet 20.000 20.000 49.921 John Lyon's Charity Family Stories 35.000 The Bloom Foundation 25,000 2025 2024 39 Clinical Services IMG Trust 15.000 Reflective Ca John Lyon's Charity The Rayne Foundation 62.796 25,000 plied Research and Evaluation UCL- Reset University College London 45,078 NIHR UIP 2024 National Institute for Health and Cure Resetsrch 20,921 Child Policy Research Unit 2024 University College London 6.949 Child Policy Research Unit 2019 University College London 67.395 NIHR UIP 2025 National Institute for Health and Cure Reseorch 14,065 Linking Loss Study NIHR Devon Partnership NHS Trust 32.901 University College London Image-Based Measure 8,226 University College London On the way to school University College London 17.678 26.518 20.326 My Story and Me Phase 2 National Institute for Health and Ctsre Reseurch 191.601 Eating Disorder in Schools University College London Enhoncing CAMHS Referrals 2 19.654 Greater Ivlanchester Mental Health NHS 6,367 BESST South London & Maudsley NHS Trust 10,738 MARCH Emerging Minds UCL University of Exeter 891 40 2025 2024 Education and Training Msc Developmental Psychology Anonymous donor loo.00 50.000 Msc Early Child Developmental ond Clinical Applications The Che5ser Trust 5,00 Doctorate of Child and Adolescent Psychotherapy The Chesser Trust 5.000 PGS centrol costs Kings College London Drinka Scholarships & Bursaries 16.290 Barbaro Throckmorton Drinka Scholarship Fund .41 2,350 AF Acodemy The Fidelity UK Foundotion 226,94 O Projects ChAPTRe Lighthouse Parenting Programme Evaluation Foundotions. the What Works Centre for Children's Sociol Core 971 Systematic review of parenting interventions Foundations, the What Works Centre for Children's Social Care 52.762 ERIC study Kovli Trust 141,642 154,589 NIHR LIMITLESS 2 University of East Anglia RESET 5.452 Newcostle University International Psychoanulytical Association Research 5.396 International Psychoanalytical Association Closing the Gap Acceleration Peors Foundotion 9,158 150,000 Research University College London collaborations Anonymous donor Psychoonolytic Electronic Publishing Virginio Tech Carillion School of Medicine Fund for Psychoanalytic Research of the American Psychotsnalytic Association 35,000 48.773 341,122 41 11,148 2025 2024 The Royal Australian and New Zealand College of Psychiatrists 56,201 Perinatal Research Barts Health NHS Trust 6,371 Nationol Institute for Health and Care Research 4.790 4,790 Devon Partnership NHS Trust 18,821 The Royal Foundation of The Prince and Princess of Wales The UKTrauma Council 29,959 The ORP Foundation 10,000 University College London 4,424 18.138 Supporting children and families following domestic abuse The Dahan Family Foundation 95.000 94,882 SUMMIT University College London 101,530 126.118 Children of the 2020s University College London Systematic review of inte￿entionS for displaced children and families 2.557 Foundotions. the What Works Centre for Children's Social Care 29,998 My Voice University College London 2.732 Schools Knowledge Dissemination in Schools Mentally Healthy Schools Paul Hamlyn Foundation The AIM Foundotion 44.000 44,000 35,000 35.000 Berry Street Foundotion 37.377 21.103 Ivlunthe Family 50.000 Sundry donors loo Nationol Programmes MHIS Schools Trainings Ford Britain Trust 2,150 Google UK Limited 981 National Programmes Bukhman Philanthropies 324.145 Anonymous donor 28.903 42 2025 2024 Autism and Wellbeing in Schools Anonymous donor 450.000 300,000 Inclusion & Specialist Help in Schools The Fomily School Anonymous donor 50,000 50.000 Central Costs Garfield Weston Foundation 75.000 Anonymous donor 30,000 Porticus UK 132,794 Clinical Help in Schools Schools Support Service The Hands Family Trust 211,593 Garfield Weston Foundation loo,000 The Prudence Trust loo.000 Westminster Foundation loo.000 The Julia and Hans Rausing Trust 300,000 The Julio Rousing Trust 500,000 500.000 Kewan Estate 50.000 User Participation University of Cambridge 33.481 Restricted total 3,803,695 2,941,664 Grond total 4.591.291 3.571.282 3. Investment income 2025 2024 Income from listed investments 64,219 149.212 4. Total expenditure Total expenditure year ended 31 August 2025 Salaries Consultants PG gronts Other expense Support osts Total 2025 Total 2024 Cost of raising funds Fundraising 607.240 6.925 18.241 632.406 538.365 Investment management fees 27.309 27.309 19.682 Legol fees 2,403 2,403 607.240 6,925 47.953 662.118 558,047 Charitable expenditure Clinical and preventative services 2.210,755 117,228 31,579 1.011,922 3,371.484 4.125,109 Applied Research and Evoluation 1.314.489 136.9241 2.364.018 591.501 4.233.084 1.655.22 1 Education and Training 4,770,655 279,603 79,145 787,442 2.251,466 8,168,311 8.597,405 Reseorch and Policy Development 2.332,471 350,944 469,567 971.110 1,353,500 5,477,592 5,683,713 Schools 3.981.917 148.603 100.000 460.457 1.635.194 6.326.171 6.068.864 User Ptsrticipotion. Librory and Disseminotion 1,311,632 108.812 1,420,444 1,328,421 15.921,919 859,454 648,712 4.723.418 6.843,583 28,997.086 27.458,733 Total Costs are allocated directly to the activities they relate to. Central function costs, including salary and overheads. tsre allocated to each activity based on the proportion of staff time spent on that activity. Total expenditure year ended 31 August 2024 Salaries Consultants PG grants Other expense Support costs Total 2024 Cost of raising f unds Fundroising and publicity 506.224 18,000 14,141 538,365 Investment monagementfees 19,682 19,682 506.224 18,000 33,822 558,047 Charitable expenditure Clinical 2.746,107 136.145 98.372 1,144.485 4.125.109 Applied Research and Evaluation 1,049,625 2.855 175,457 427.284 1.655,221 Educotion ond Troining 4.614,689 271,466 83.512 1,725,033 1,902,705 8.597,405 Research ond Policy Development 2,272.853 641,396 631,992 824,978 1,312,494 5,683,713 Closing The Gtsp Acceleration Schools 4.031,956 161.668 100.000 304.524 1,470,716 6.068.864 User Participation, Library and Dissemintstion 1.027.685 185,249 115,487 1.328,421 15,742,915 1,398,779 815,504 3,243,851 6,257,684 27,458,733 Total expenditure 16.249.139 1,416,779 815.504 3,277.674 6,257,684 28.016.78 5. Staff costs and numbers 2025 2024 al Staff costs Wages and salaries Social security costs 15,720,605 15,292,479 1.762,416 1,542,250 Pension costs 841,717 783.245 18.324738 17.617.97 2025 2024 Staff costs include seconded staff costs amounting to £726,89612024: £626,530). Staff costs also includes staff redundoncy payments amounting to £188,77712024.. £62,426). Emoluments over £60,000 No. No. £60.001- £70,000 25 20 £70,001- £80,000 li 12 £80,001- £90,000 £90,001- £100,000 £ioo,ooi- £iio.000 2025 2024 Pension contributions of £175,935 were made to those receiving emoluments over £60,00012024: £156.5831. The total renumeration paid to key management personnel in the period was £913,23312024'. £802,211). The average number of employees anolysed by function wos.. No. No. Clinicol 49 79 Eductstior) und Trtsining Research 93 iii 179 173 Conferences 74 25 Schools 77 95 472 48 b) Trustees No trustee received remuneration for their services during the year12024.. £nill. Reimbursed expenses were £1,23712024: £nill. 46 6. Tangible fixed assets Freehold land Freehold properties Fumishings & equipment Total Cost At I September 2024 8.110,690 28.112.281 2,098,983 38,321.954 Additions 883,047 883,047 At 31 August 2025 8,110,690 28,112.281 2,982,030 39,205.001 Depreciation At I September 2024 1,967,860 476,616 2,444,476 Charge for the year 374.830 662,209 1,037,039 At 31 August 2025 2,342.690 1,138,825 3,481.515 Net book volue At 31 August 2025 8,110.690 25,769.590 1.843,206 35,723,486 At 31 ALJgust 2024 8,110,690 26,144,421 1,622.367 35,877,478 47 7. Investments 2025 2024 Market value at I September 2024 2.852,039 2.534,501 Additions 64.219 149.212 Investment & managementfees 127,3091 119,6821 Unrealized gains on investment 152,862 188,008 Market value ot 31 August 2025 3.041.811 2.852.039 Historical cost at 31 August 2025 2.074,641 2,074,641 Listed investments (market valuel UK fixed interest 241,720 268,065 UK equity shores 58,068 91,814 Overseas equities 1.723,734 1,566,316 Property 82.043 88.425 Alternative Assets 224,192 208,936 hAorket value of listed investments 2,329,757 2,223,556 Cosh 712,054 628,483 3.041BII 2.852.0 The investment managers, Cazenove, invest in a wide range of investments and the Trustees regularly review performance. The investment managers are remunerated by a percentage of the value of the fund and the charge for 2025 was £8,368 12024. £5,140). 48 8. Debtors 2025 2024 Trade Debtors 1,524,484 656.454 Prepoyments ond accrued income 2,950,242 3,273,756 Other Debtors 139,912 1,115 4614,638 3,931,325 Trade debtors 1.524,485 656,454 Prepayments ond occrued income 2,611,306 2.916,621 Other debtors 139,912 1,115 4275.703 3.574,190 Debtors.. amounts follin due after one year Prepayments ond accrued income 338,936 357.135 338,936 357,135 49 9. Creditors: amounts falling due within one year 2025 2024 Trade ond other creditors 812,021 907,088 Taxation ond social security costs Accruals and deferred income 432,095 616,244 5,509,225 5.161.583 6,753.341 6,684.915 Other deferred income at the start of the period 5.161,583 7,817.871 Amounts released to income in the year 14,643.7831 17,074,348) Amounts deferred in the year 4.991,425 4.418.060 Other deferred incorne at the end of the period 5.509.225 5.161.583 Deferred income relates to service level agreements and short course and training income thot relates to future periods. 50 10. Creditors: amounts falling due after more than one year 2025 2024 Bonk Loans 4,893.084 4,893,084 DfE Farnily School Contribution 1,202.665 1,270,741 6,095,749 6,163.825 The analysis of bank loans is as follow& Due in 1-2 years 154,505 4,893,084 Due in 3- 5 years 706,306 Due beyond S years 4,032,273 93, A loon of £4.9m was ogreed on the 27 September 2019 for a period of 5 years on a fixed rote basis of 2.87%. New fixed rate agreed on 31 July 2025 at 6.9% with 18 months principle repayment holiday. This is a fixed rate loan secured against the freehold land at Rodney Street Nl 9JH. 2025 2024 The analysis of the DfE'5 contribution is as follows: Income Recognised in 1- 2 years 68,075 68,075 Recognised in 3 - 5 yeors Recognised beyond 5 yeors 204,226 204,226 930,364 998,439 1,202,665 1,270,7 The DfE have contributed £1,701,885 to the construction of the Family School which was received in full in December 2019 and is recognised over the course of the 25 year lease which commenced in May 2019. 51 Details of designated funds Fixed asset fund Fixed asset fund matches reserves with fixed assets held and used directly for charity purposes. EBPU- Evidence Based Practice Unit Service development and evaluation has been growing for the past few years and to enable further growth funds are being designated by self-generated surpluses and used to innovate in Applied Research & Evaluation. CORC- The Child Outcomes Research Consortium CORC collects and uses evidence to enable more effective child-centred support, services and systems to improve children and young people's mental health and wellbeing. As a result of the merger of CORC into the Anna Freud Centre in September 2021, there were reserves transferred which are being held to continue to invest in this work. Details of restricted funds Clinical projects Include Reflective Fostering, Reflective Parenting, Koilo and Early Years. Applied Research projects Include Violence Reduction Unit and Nested Evaluation projects. Education and Training Includes funds for Scholarship awards and Choosing Treatments projects. Research and Policy Development Includes funding for the UK Trauma Council, Bereavement Evaluation, Supporting Parents and ERIC Study. Schools Includes Autism and Wellbeing in Schools, Schools Outreach Service, Mentally Healthy Schools Website and Alternative Provision schooling models such as the Family School roll out and dissemination. 52 11. Operating lease commitments 2025 2024 Operating leases 38.753 46.807 38,753 46,807 Due in less than l year 10,334 9.854 Due in 1-2 years 10,334 9.854 Due in 3-5 yeors 18,085 27,099 Due beyond 5 yeors 3&753 46,8 53 12. Statement of funds I September 2024 Investment goins and revaluations 31 August 2025 Income Expenditure General funds 6,638,094 20,251,146 121,742.9251 152,861 5,299,176 Designated funds Fixed osset fund 25,615,553 1722,7731 24,892,780 EBPU 208,510 25,965 175.8941 158,581 CORC 388,170 161,5341 326,636 Total designoted funds 26.212,232 25,965 1860.2001 25,377,997 Restricted funds Clinical projerts 90,558 301,077 1308.1201 83,515 Applied Research 44,053 2,957,240 13,049,463) 148.1701 Education & Training 28,015 355,598 1308.4811 75,132 Research & Policy Development 298,310 1,794,956 12,089,607) 3,659 Schools 752,666 1.786,999 11,283.6671 1,255,998 Central Support Services 33,481 116.7411 16,740 Totol restricted funds 1,213,602 7.229,351 17,056.0791 1,386,874 54 13. Related parties and related party transactions Trustees and related parties made donations totalling £65,718 in the year to the Anna Freud Centre. 12024.. £116,453) 14. Pension commitments The organisation makes contributions to personal pension schemes on behalf of some of its employees. Contributions in the year totolled £841,71712024.. £783.2451. Amounts owing to the scheme at 31 August 2025 were £105,98412024.. £108.7111 55 15. Anolysis of net assets between funds Fund balances at 31 August 2025 are represented by.. General funds Desi9nated funds Restricted f unds Total funds Tangible fixed assets 10,830,705 24,892,781 35,723,486 Investments 3,041,811 3,041,811 Lor)g term creditors 16,095,749) 16.095,7491 Net current assets 12,477,591) 485.216 1,386,874 1605,5011 5.299,176 25.377.997 1.386.874 32.064047 Fund balances at 31 August 2024 comparative are represented by: Generol funds Designuted lunds Restricted funds Totol funds Tangible fixed assets 10.261.926 25.615.552 35.877.478 Investments 2,852,039 2.852,039 Long term creditors 16,163,824) 16,163,824) Net current assets 1312,0471 596,680 1.213,602 1,498,235 6.638.094 26.212.232 1.213.602 34.063,928 56 16. Analysis of changes in debt At I September 2024 Cash flows At 31 August 2025 Cash and cash equivalents Cash 4,251,825 12,718,623) 1,533,202 4,251.825 12,718.6231 1,533,202 Borrowings Debt due within one year Debt due after one year 14,893,084) 14,893,084) 14,893,084) 14.893,0841 1641,2581 (2,718,623) (3,359,88 57 17. Comparative statement of f inancial activities (2024) year ended 31 August 2024 Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Income from- Gronts, donations and legacies 629,618 2.941,664 3.571.282 Investments 149.212 149,212 Charitable activities Clinical and preventative services 1,801,083 1.801,083 Research 1,974,657 1.331,930 3,306,587 Educotion ond Troining 11,412,141 11,412,141 Conference and study events 5,819,011 49,731 5,868.742 Schools 2,565,289 2,565.289 23,572,181 1.381,661 24,953,842 Other 559,389 559,389 l inc Expenditure on= Raising funds Fundroising and publicity 538,365 538.365 Investment and management fees 19,682 19,682 558,047 558,047 Charitable activities Clinical & preventative services 3,637,579 487,530 4,125,109 Applied Research & Evaluation 1,328,836 326,385 1,655,221 Education & Training 8,503.977 93,428 8.597.405 Research & Policy Development 4,052,286 1.631,427 5,683,713 Schools 4,875,625 1,193,239 6.068,864 User Participation. Library & Dissemination 1,328.421 1,328,421 23.726,724 3,732,009 27.458,732 al expenditure 24,284771 3,732,009 28,01&780 58 Unrestricted Restricted Total funds funds 2024 funds 2024 2024 Net income I lexpenditurel before investment gains 625,629 591,316 1.216,945 Unreolised gains on investment 188,009 188,009 Net income I lexpenditurel 813,638 591,316 1.404,954 Net movement in funds 813,638 591,316 1.404,954 Funds balance carried forward at I September 2023 32,036,688 622,286 32,658,974 Funds balance carried forward 32,850,326 1,213,602 34.063,928 59 References I NHS Digital120241. Adult Psychiatric Morbidity Survey.. Survey of Mental Health ond Wellbeing, England 2023-24. htt ita data-and-information rv rv -24 2 NHS Digitol120241. Mentol Health Services Monthly Statistics. h 3 Anno Freud Centre In.d.l. UK Troumo Council. h nn 60 Annafreud.org @AFNCCF info@annafreud.org Anna Freud building the mental wellbeing of the next generation All rights reserved. Anna Freud is a charity registered in England and Wales (10771061. Registered address.. Anna Freud, 4-8 Rodney Street, London Nl 9JH