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← Titan Partnership Limited

2025-07-31-accounts

TITAN PARTNERSHIP LIMITED (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Registered Number: 04005034

Charity Number: 1081749

TITAN PARTNERSHIP LIMITED

1

(A company limited by guarantee)

CONTENTS

Reference and administrative details of the charity, its trustees and advisers 2
Trustees' report 3
Trustees' responsibilities statement 6
Independent auditors' report 7
Statement of financial activities 8
Balance sheet 9
Statement of cash flows 10
Notes to the financial statements 11

TITAN PARTNERSHIP LIMITED

2

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JULY 2025

Trustees ROHEL, Jaspal(Resigned on 01/12/2024)- Director & Trustee
LOFTHOUSE, Alexandra (Appointed 01/09/2024)- Director & Trustee
HUTCHISON, Nicola - Director & Trustee
KEARNEY-BAMBRIDGE, Georgina - Director & Trustee
LOCKE-WHEATON, Daniel - Director & Trustee
MORTIMER, Jonathan Luke - Director & Trustee
ATHERTON, Fiona(Resigned 25/11/2024)- Director & Trustee
DODDRIDGE, Paul(Resigned 15/04/2025) - Director & Trustee
Company registered number 04005034
Charity registered number 1081749
Registered office Faraday Wharf
Holt Street
Birmingham
B7 4BB
Chief executive officers Jaspal Rohel (Resigned on31/08/2025)
Katherine Marsden (Resigned on 01/06/2025)
Independent Examiner: Cheylesmore Accountants
7 Edison Building
Electric Wharf
Coventry
West Midlands
CV1 4JA
Bankers Lloyds TSB Plc
114-116 Colmore Row
Birmingham
B3 2FD

TITAN PARTNERSHIP LIMITED

3

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025

Introduction

2024/25 has been a year of significant transition for Titan Partnership.

The education sector, both locally and nationally, continues to face significant challenges, including the ongoing effects of the pandemic on student needs, changes in government education strategy and ongoing, and severe, financial challenge.

Titan Partnership has continued to support its member schools through the increasingly challenging landscape. This includes the recognition that, in a an environment where budgets are constrained, that it is appropriate to ensure membership fees reflect true value for money for the services provided.

This transition also applies to our funded projects. Following the cessation of our ITT contract with BCU, 2024/25 has been the preparation and initial recruitment year for our new arrangement with Teach First. Recruitment has been in line with target. NE Sharing Panel continues to be a valued service for our Members. DLP and NEET projects have successfully completed and ceased as at 31st July 2025.

Objectives as per the Articles of Association

The objectives as per the Articles are the advancement of education of school children, young people, and their teachers/lecturers through the establishment of an inner-city network. Titan Partnership is involved with many projects all of which work towards these objectives.

Financial Review

The incoming resources for the year of £509k (2024: £794k) consist primarily of membership fees of £243k (2024: £287k) and Initial Teacher Training income of £24k (2024: £304k). The remainder of the incoming resources is made up of project grants of £202k (2024: £159k), donations of £11k (2024: £14k), bank interest of £4k (2024: £7k) and other income of £25k (2024: £23k).

The expenditure of £505k (2024: £794k), detailed in Notes 5, 6 and 7, consists of direct costs on charitable activities £177k (2024: £256k) and support costs of £328k (2024: £538k). Staff costs, gross of recharges to activities were £294k (2024: £451k).

Financial Performance can best be measured with reference to the movement in the Restricted and Unrestricted Income Funds as shown on the Balance Sheet. This shows a gain for the year of £17k (2024: loss £25k).

Financial management at the Charity is adequate with increasing costs being managed within existing reserves constraints in successive years, while reinvestment in direct activities are continuing. Cost control and rationalisation remains a key priority in 2025/26, given pay and general cost pressures.

Titan Partnership has outsourced it's Finance Function to Prime Accountants and moved to Xero accounting software for 2025/26. It is hoped that this will increase efficiency of processes and improve transparency of financial performance.

TITAN PARTNERSHIP LIMITED

4

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

Structure, Governance and Management Constitution:

Titan Partnership Limited is a company limited by guarantee with no share capital (Registration Number: 04005034) and is a charity registered with the Charity Commission (Charity Number: 1081749. The charitable company’s memorandum and articles of association are the primary governing documents of the charity. Details of the trustees who served during the year except as noted are included in the Reference and Administrative Details on page 2.

Members’ Liability:

Each member of the charitable company undertakes to contribute to the assets of the charitable company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before

Trustees' Indemnities:

Titan Partnership Limited has in place Directors and Trustees liability insurance indemnity cover to a limit of £1m.

Method of Recruitment and Appointment or Election of Trustees:

The term of office for all Trustees is four years, except for the Executive Director, who will remain a member of the Board of Trustees whilst they serve in this capacity. Subject to remaining eligible to be a particular type of Trustee, any Trustee may be re-appointed or re-elected.

Policies and Procedures Adopted for the Induc�on and Training of Trustees:

TITAN PARTNERSHIP LIMITED

5

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

All Trustees are issued with a copy of the Charity SORP which provides a wide range of information and guidance relating to the governance of the charity.

The Articles of Association set out the arrangements for the governance and management of the charity. The Board of Trustees monitor the performance of the Senior Leadership Team. The Senior Leadership Team supports the Executive Director in providing strategic leadership and management to ensure that the charity remains a financially and operationally successful institution, operating in accordance with the strategic goals, policies and processes approved by the Board of Trustees.

Organisational Structure in 2024/25

==> picture [156 x 109] intentionally omitted <==

----- Start of picture text -----
Trustee Executive Committee
Executive Director
Titan SLT
Titan Partnership
----- End of picture text -----

Risk

The Board of Trustees review the charity's strategic risk register at regular intervals, reviewing the major risks, focusing on operational, financial, governance, compliance and reputational risk, and received reports on the steps taken by the charity to mitigate likely risks. The Board of Trustees is satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised, however, that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed.

Future strategy

Titan’s strategy continues to evolve to meet the changing needs of the education sector in Birmingham as we enter Titan's 25th year.

There is a renewed focus on clear leadership and direction, and improving the operational and financial stability of the organisation.

Looking ahead, we’re encouraged by the strength of our Initial Teacher Training programme and the impact it’s having. Welcoming both primary and secondary cohorts into our schools reflects the quality and ambition of our work.

Sharing Panel will continue to develop,benefiting our member schools.

Titan continues to thrive because of a membership offer that is of real benefit and value to our network. Titan is a resilient and agile organisation able to continually flex to the needs of the local education environment, underpinned by sound financial principles.

A Lofthouse ~~….......................~~ A Lofthouse (Oct 22, 2025 08:50:17 GMT+1) ......................................... Alexandra Lofthouse Chair of Trustees 22nd October 2025

TITAN PARTNERSHIP LIMITED

6

(A company limited by guarantee)

TRUSTEES' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 31 JULY 2025

The Trustees (who are also directors of Titan Partnership Limited for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

This report was approved by the trustees on 22nd October 2025.

A Lofthouse ~~…………………………~~ A Lofthouse (Oct 22, 2025 08:50:17 GMT+1) …………………………………… Alexandra Lofthouse Chair of Trustees

TITAN PARTNERSHIP LIMITED

7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TITAN PARTNERSHIP LIMITED FOR THE YEAR ENDED 30 JULY 2025

I report to the Charity Trustees on my examination of the accounts of the charitable incorporated organisation (CIO) for the year ended 30 July 2025

Responsibilities and basis of report

As the charitable incorporated organisation's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charitable incorporated organisation's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material

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

Cheylesmore Accountants 7 Edison Building Electric Wharf Coventry West Midlands CV1 4JA

22nd October 2025

TITAN PARTNERSHIP LIMITED

8

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025

(Incorporating the Income and Expenditure Account)

Note
2
3
4
5
13
10
19
13
Income andendowmentsfrom:
Donations and legacies Charitable
activities
Investment income
Total income and endowments
Expenditure on:
Charitable activities
Total expenditure
Net income/(expenditure)
Transfers between Funds
Other recognised gains and losses
Net gain on investments
Asset ceiling adjustment
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 Restricted
Funds
£
-
202,537
-
202,537
109,553
109,553
92,984
-
92,984
-
-
92,984
-
92,984		 Unrestricted
Funds
£
10,836
291,708
4,174
306,718
395,492
395,492
(88,774)
-
(88,774)
12,552
-
(76,222)
665,041
588,819		 Total
2025
£
10,836
494,245
4,174
509,255
505,045
505,045
4,210
-
4,210
12,552
-
16,762
665,041
681,803		 Total
2024
£
13,743
773,019
7,427
794,189
793,531
793,531
658
-
658
23,896
(6,000)
18,554
646,487
665,041

9

TITAN PARTNERSHIP LIMITED (Registered Number: 04005034)

(A company limited by guarantee)

Fixed assets
Note
Tangible assets
9
Investments
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors:amounts falling due within one year
12
Net current assets
Defined Benefit Pension Scheme Asset
19
Net assets
Charity Funds
Restricted funds
13
Pension reserve
13
Unrestricted funds
13
Total funds
BALANCE SHEET AS AT 31 JULY 2025		 £
34,928
369,098
404,026
(26,243)		 2025
£
-
304,020
304,020
377,783
681,803
-
681,803
92,984
-
588,819
681,803		 £
34,274
544,247
578,521
(204,948)		 2024
£
-
291,468
291,468
373,573
665,041
-
665,041
-
-
665,041
665,041

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on 22nd October 2025 and signed on their behalf, by:

Alexandra Lofthouse Chair of Trustees

The notes on pages 10 to 26 form part of these financial statements.

A Lofthouse ~~…………………………~~ A Lofthouse (Oct 22, 2025 08:50:17 GMT+1) ………………………………

TITAN PARTNERSHIP LIMITED

10

(A company limited by guarantee)

Note
Cash flows from operating activities
Net cash used in operating activities
15
Cash flows from investing activities:
Proceeds from sale of investments
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
16
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 JULY 2025		 Total
2025
£
(175,149)
-
-
(175,149)
544,247
369,098		 Total
2024
£
(45,336)
-
-
(45,336)
589,583
544,247

TITAN PARTNERSHIP LIMITED

11

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

1 Accounting Policies

1.1 General information

Titan Partnership Limited is a charitable company limited by guarantee and registered with Companies House and the Charity Commission in England and Wales. It operates from its registered office of Faraday Wharf, Holt Street, Birmingham, England, B7 4BB. The principal activity is the advancement of education through its network.

1.2 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Titan Partnership Limited 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.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity’s ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Company status

The company is limited by guarantee. In the event of the company being wound up, the liability in respect of the guarantee is limited to £10 per member of the company.

1.4 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund.

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

TITAN PARTNERSHIP LIMITED

12

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

1 Accounting Policies (cont'd)

1.7 Expenditure

Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

All fixed assets costing more than £1,000 are capitalised.

Exchange gains and losses are recognised in the statement of financial activities incorporating income and expenditure account.

TITAN PARTNERSHIP LIMITED

13

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

1 Accounting Policies (cont'd)

1.13 Pensions

One employee is a member of the Local Government Pension Scheme (LGPS), a multi-employer defined benefit scheme where the underlying assets and liabilities are separately identifiable.

Pension costs for seconded staff are recognised when charged by the schools in question.

1.14 Debtors

1.17 Financial Instruments

Critical accounting estimates and assumptions relate to the fair value of investments valued at 31 July 2026 at £304,020 (2025: £291,468). These are based on the listed market value which could cause a material adjustment to the carrying value of the assets in the next financial year.

TITAN PARTNERSHIP LIMITED

14

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

2 Income from donation and legacies

==> picture [520 x 55] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Restricted|Unrestricted|Total|Total| |Funds|Funds|2025|2024| |£|£|£|£| |Donations|-|10,836|10,836|13,743|

----- End of picture text -----

The income received from donations and capital grants in 2025 was £10,836 (2024: £13,743), of which £Nil (2024: £Nil) was restricted and £10,836 (2024: £13,743) was unrestricted.

3 Income from charitable activities

==> picture [522 x 131] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Restricted|Unrestricted|Total|Total| |Funds|Funds|2025|2024| |£|£|£|£| |Initial teacher training|-|24,235|24,235|303,916| |CPD and training|-|6,100|6,100|6,695| |Funded project income|202,537|-|202,537|159,068| |Membership and services|-|243,323|243,323|287,015| |Other Income|-|18,050|18,050|16,325| |202,537|291,708|494,245|773,019|

----- End of picture text -----

The income from charitable activities for the charitable company for 2025 was £494,245 (2024: £773,019) of which £202,537 (2024: £159,068) was restricted and £291,708 (2024: £613,951) unrestricted.

4 Investment income

==> picture [522 x 75] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Restricted|Unrestricted|Total|Total| |Funds|Funds|2025|2024| |£|£|£|£| |Bank interest receivable|-|4,174|4,174|7,427| |-|4,174|4,174|7,427|

----- End of picture text -----

The investment income for the charitable company for 2025 was £4,174 (2024: £7,427) of which £Nil (2024: £Nil) was restricted and £4,174 (2024: £7,427) unrestricted.

TITAN PARTNERSHIP LIMITED

15

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

5 Analysis of expenditure by activities

Initial teacher training
CPD and training
Funded projects/grants costs
Skills, employability and careers
Membership and services
Sponsorships
Total 2025
Total 2024
6
Support costs
Office overheads
Office consumables
Auditor's remuneration
Wages and salaries
National insurance
Pension cost
Exceptional Items
Total 2025
Total 2024
Office overheads
Office consumables
Auditor's remuneration
Wages and salaries
National insurance
Pension cost
Exceptional Items
Total 2025
Total 2024		 Activities
undertaken
directly
2025
£
4,300
56,753
109,553
-
6,345
-
176,951
166,568
Initial
teacher
training
£
5,872
428
182
10,484
722
586
(5,150)
13,124
222,826
Membership
and
services
£
49,904
3,640
1,547
89,118
6,133
4,982
(43,773)
111,551
11,328		 Support
Costs
2025
£
13,124
3,282
183,732
9,843
111,551
6,562
328,094
626,963
CPD
and
training
£
1,468
107
46
2,621
180
147
(1,287)
3,282
5,518
Sponsorships
£
2,936
214
91
5,242
361
293
(2,575)
6,562
11,328		 Total
2025
£
17,424
60,035
293,285
9,843
117,896
6,562
505,045
Funded
projects
£
82,194
5,995
2,548
146,783
10,102
8,206
(72,096)
183,732
144,603
Total
2025
£
146,777
10,705
4,551
262,111
18,039
14,654
(128,743)
328,094		 Total
2024
£
272,451
32,764
214,597
-
262,391
11,328
793,531
793,531
Skills,
employability
and careers
£
4,403
321
137
7,863
541
440
(3,862)
9,843
242,688
Total
2024
£
158,416
7,608
10,475
394,200
34,439
21,825
-
626,963
638,291

Exceptional items relate to the release of legacy balances.

16

TITAN PARTNERSHIP LIMITED

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

7 Staff costs

Staff costs were as follows:
Wages and salaries
Social security costs
Pension costs
Agency staff costs		 Total
Total
2025
2024
£
£
262,112
393,847
18,039
34,439
14,654
21,825
-
350
294,805
450,461
The average number of persons employed by the charity during the year was as follows:
Total
Total
2025
2024
No
No
7
11
The number of higher paid employees was:
In the band £60,001 - £70,000
In the band £110,000 - £120,000		 -
-
-
-

Key management personnel comprises the co-Chief Executive Officers (2024: Chief Executive Officer, Director of ITT and the Finance and Operations Manager), who are engaged on a part-time basis.

Jaspal Rohel and Katherine Marson have provided professional consultancy services in which they have acted as co-Chief Executive Officers during the year. The total paid to key management personnel was £86,050 (2024: £75,000).

Pensions

The pension cost for those employees in the Local Government Pension Sheme (LGPS) is assessed in accordance with the advice of a qualified actuary using the projected unit method. This scheme is subject to a triennial review with the most recent one being available at 31 March 2022.

The pension contributions paid in the year to the LGPS pension scheme were £2,974 (2024: £3,600).

Pension contributions paid in the year to defined contribution schemes were £18,851 (2024: £23,658).

This is stated after charging:
Auditor's remuneration - audit
Auditor's remuneration - other services
Fees paid toIndependentExaminer		 Total
2025
£
-
-
2,000		 Total
2024
£
6,550
1,500
-

During the year, no Trustees received any remuneration or reimbursed expenses (2024 - £Nil).

8 Net (income)/expenditure

TITAN PARTNERSHIP LIMITED

17

9
Tangible fixed assets
Cost
At 1 August 2024 and 31 July 2025
Depreciation
At 31 August 2024 and 31 July 2025
Net book value
At 31 July 2025
At 31 July 2024
10 Fixed asset investments
Market value/cost
At 1 August 2024
Amount written off
Revaluations
At 31 July 2025
11 Debtors
2025
£
Trade debtors
34,928
Other debtors
-
Prepayments and accrued income
-
34,928
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)
(A company limited by guarantee)		 Fixture
and Fittings
£
-
-
-
-
Total
£
291,468
-
12,552
304,020
2024
£
23,278
1,058
9,938
34,274

TITAN PARTNERSHIP LIMITED

18

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

12 Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income
Deferred income at 31 July 2024
Resources deferred during the year
Amounts released from previous years
Deferred income at 31 July 2025		 2025
£
(5,973)
10,369
4,816
17,031
26,243
2025
£
16,921
13,431
(16,921)
13,431		 2024
£
73
14,934
107,488
82,453
204,948
2024
£
29,675
16,921
(29,675)
16,921

At the balance sheet date the charity was holding funds received in advance of £13,431 (2024: £16,921) for 2024/25 comprising: £13,431 (2024: £16,371) from the DLP and other £Nil (2024: £550).

13 Statement of funds

Unrestricted funds
General funds
Restricted funds
Developing Local Provision
Total restricted funds
Restricted Pension Fund
Pension Reserve
Total funds		 Balance at
1 August
2024
£
665,041
-
-
-
665,041		 Incoming
Resources
£
306,718
202,537
202,537
-
509,255
Resources
Expended
£
(395,492)
(109,553)
(109,553)
-
(505,045)
Gains/
(Losses)
£
12,552
-
-
-
12,552		 Balance at
31 July
2025
£
588,819
92,984
92,984
-
681,803

TITAN PARTNERSHIP LIMITED

19

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

13 Statement of funds (cont'd)

Restricted funds

The ITT funds are to be applied for teacher training programmes in accordance with the funder terms.

The Inclusion and Opportunity funds are residual balances of funding which is to be used to continue to support activities focussed on delivering inclusion and opportunity within schools.

Independent funds are held in relation to specific individual schools.

European funding amounts are to be applied for specific projects funded by the European Union in accordance with the specifications of the particular project.

Computers for children funding amounts are funds are donations of computers and funding for the purchase of computers, which are to be donated to children.

Statement of funds - prior year

Unrestricted funds
General funds
Restricted funds
Computersfor children
Developing Local Provision
Total restricted funds
Restricted Pension Fund
Pension Reserve
Total funds		 Balance at
1 August
2022
£
640,291
196
-
196
6,000
752,549		 As Restated
Incoming
Resources
£
635,121
-
159,068
159,068
-
794,189
As Restated
Resources
Expended
£
(634,463)
-
(159,068)
159,068
-
-
(793,531)
Gains/
(Losses)
£
24,092
(196)
-
196
-
(6,000)
17,896		 Balance at
31 July
2024
£
665,041
-
-
-
-
665,041

TITAN PARTNERSHIP LIMITED

20

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

14 Analysis of net assets between funds

Fund balances at 31 July 2025 are represented by:

Fixed asset investments
Current assets
Creditors due within one year
Defined benefit pension scheme		 Restricted
Funds
£
-
92,984
-
-
92,984		 Restricted
Pension
Funds
£
-
-
-
-
-		 Unrestricted
Funds
£
304,020
311,042
(26,243)
-
588,819		 Total
£
304,020
404,026
(26,243)
-
681,803

Comparative information in respect of the preceding period is as follows:

Fund balances at 31 July 2024 are represented by:

Restricted
Restricted
Pension
Unrestricted
Funds
Funds
Funds
£
£
£
Fixed asset investments
-
-
291,468
Current assets
196
-
578,325
Creditors due within one year
-
-
(204,948)
Defined benefit pension scheme
-
-
-
196
-
664,845
15 Reconciliation of net movement in funds to net cash flow from operating activities
2025
£
4,210
Adjustment for:
Decrease/(increase) in debtors
(654)
Increase/(decrease) in creditors
(178,705)
Net cash used in operating activities
(175,149)
16 Analysis of cash and cash equivalents
Cash in hand
369,098
Total
369,098
Net income/(expenditure) for the year (as per Statement of
Financial Activities)		 Total
£
291,468
578,521
(204,948)
-
665,041
2024
£
658
44,354
(90,348)
(45,336)
544,247
544,247

TITAN PARTNERSHIP LIMITED

21

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

17 Operating Leases

At 31 July 2025, the total of Titan Partnership's future minimum lease payments under noncancellable operating leases was:

Amounts due within one year
Amounts due more than one year		 Buildings
£
17,587
4,397
21,984		 Other
£
-
-
-		 Total
£
17,587
4,397
21,984

18 Agency arrangements

Under the previous ITT contract that ceased at 31 July 2024, the partnership the partnership distributes ITT bursary funds to trainee teachers as an agent for the DfE. In the period 1 August 2024 to 31 July 2025, the partnership received £Nil (2024: £418,400) and disbursed £Nil (2024: £399,100) from the fund. An amount of £Nil (2024: £10,300) is due back to the DfE at 31 July 2025.

19 Related party transactions

Owing to the nature of the company's operations, the board of trustees are drawn from the membership of the company and transactions do therefore take place with organisations in which the trustees have an interest. All such transactions are conducted on the same basis as other members of the company.

Aston University Engineering Academy, an academy in which Daniel Locke-Wheaton (Trustee) is a Trustee. Titan Partnership received Membership & Sharing Panel contributions totalling £8,256 (2024: £2,310) from Aston University Engineering Academy during the year. £66 (2024: £Nil) was due from Aston University Engineering Academy at 31 July 2025 in respect to these fees.

Equitas Academies Trust, a academy in which Alexandra Lofthouse (Trustee) is a Trustee. Titan Partnership received Membership & Sharing Panel contributions totalling £16,038 (2024: £Nil) from Aston University Engineering Academy during the year. £Nil (2024: £Nil) was due from Equitas Academies Trust at 31 July 2025 in respect to these fees.

Titan Education Trust, a Multi Academy Trust in which Nicola Hutchison (Trustee) is a Trustee. During the year payroll services were provided to Titan Education Trust and Titan Partnership received admin fees totalling £Nil (2024: £211) and Sage Support totalling £1,761 (2024: £1,570). Titan Partnership also received meeting room hire income totalling £Nil (2024: £Nil). £3,059 (2024: £Nil) was due from Titan Education Trust at 31 July 2025 in respect to these fees.

TITAN PARTNERSHIP LIMITED

22

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

19 Related party transactions (Cont'd)

Hamstead Hall Academy, an academy in which Jonathan Luke Mortimer (Trustee) is a Trustee. Titan Partnership received Memberships & Sharing Panel contributions totalling £19,885 (2024: £13,102) from Hamstead Hall Academy during the year. £Nil was due from Hamstead Hall Academy on 31 July 2025 in respect to these fees.

Ladypool Primary School, an academy in which Fiona Michelle Atherton (Appointed 05/09/2024) is a Trustee. Titan Partnership provided Primary Moderation Training totalling £Nil (2024: £702) during the year. £Nil was due from Ladypool Primary School on 31 July 2025 in respect to these fees.

20 Pensions and similar obligations

The Charity's employees belong to two principal pension schemes: the Royal London Pension Scheme and the Local Government Pension Scheme (LGPS) which is managed by the West Midlands Pension Fund. The Royal London Pension Sheme is a defined contribution scheme. The Local Government Pension Scheme is a defined multi employer benefit scheme.

The total LGPS pension cost to Titan Partnership Limited during the year ended 31 July 2025 was £4,000 (2024: £4,000).

The pension costs are assessed in accordance with the advice of independent qualified actuaries. The latest actuarial valuation of the LGPS 31 March 2022.

There were no outstanding or prepaid contributions at either the beginning or the end of the financial year.

The LGPS is a funded defined benefit scheme, with the assets held in a separate trustee administered funds. The total contributions made for the year ended 31 July 2025 were £2,974 of which employers contributions totalled £2,974 (2024: £4,000) and employees contributions totalled £Nil (2024: £Nil). The agreed contributions for future years are 19.8% for employers and an average contribution rate 5.50% for employees.

No LGPS valuation has been performed for 31 July 2025 as the valuation is not material to the

financial statements. An LGPS valuation will be performed for year ending 31 July 2026.

Principal Actuarial Assumptions at 31 July 2025

Principal Actuarial Assumptions at 31 July 2025
The major assumptions used by the actuary at the date of the last At 31 July At 31 July
valuation were: 2025 2024
% per annum % per
annum
Discount rate 1.60% 1.60%
Salary increases 3.75% 3.75%
Pension increase 2.75% 2.75%
Sensitivity analysis for the principal assumptions used to measure At 31 July At 31 July
2025 2024
£ £
Discount rate increased by 0.1% per annum 225,000 225,000
Adjustment to pension increases and deferred revaluation by 0.1% 243,000 243,000
Life expectancy at retirement increased by 1 year 243,000 243,000

TITAN PARTNERSHIP LIMITED

23

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

20 Pensions and similar obligations (cont'd)

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:

Present value of scheme liabilities
Current service cost
Interest income
Interest cost
Administration costs
Total amount recognised in the SOFA
Property
Cash
Other
Total market value of assets
Longevity at age 65 retiring in 20 years
- Men
- Women
The Charity's share of the assets in the scheme were:
Equity instruments
Debt instruments
Longevity at age 65 retiring today
- Men
- Women
Total liabilities
Surplus in the scheme
The actual return on the scheme assets in the year was £Nil (2024: £Nil).
Amounts recognised in the Statement of Financial Activities
- Funded
- Unfunded		 At 31 July
2025
years
21.6
24.0
23.4
25.8
Fair value
At 31 July
2025
£
155,033
21,850
18,729
9,364
52,024
257,000
(257,000)
257,000
(257,000)
-
2025
£
3,000
-
-
-
3,000		 At 31 July
2024
years
21.6
24.0
23.4
25.8
Fair value
At 31 July
2024
£
153,223
21,595
18,510
9,255
51,417
254,000
(254,000)
254,000
(254,000)
-
635121
2024
£
3,000
(3,000)
3,000
-
3,000

TITAN PARTNERSHIP LIMITED

24

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 (cont'd)

20
Changes in surplus during the year
Balance at 1 August
Transfer in of pension surplus
Movement in year:
- Employer service cost (net of employee contributions)
- Employer contributions
- Expected return on scheme assets
- Interest cost
- Asset ceiling adjustment
Surplus in the scheme at 31 July
Balance at 1 August
Transfer in of pension liabilities
Current service cost
Past service cost
Interest cost
Contributions by scheme participants
Benefits paid
Actuarial loss
Scheme liabilities at 31 July
Balance at 1 August
Transfer in of pension assets
Expected return on scheme assets
Actuarial gain
Contributions by employer
Benefits paid
Administration expenses
Asset ceiling adjustment
Fair value of scheme assets at 31 July
Changes in the present value of defined benefit obligations were as
follows:
Changes in the fair value of charity's share of scheme assets:
Pensions and similar obligations (cont'd)		 2025
£
-
-
3,000
(3,000)
-
-
-
-
2025
£
254,000
-
3,000
-
-
-
-
-
257,000
2025
£
254,000
-
-
-
3,000
-
-
-
257,000		 2024
£
(6,000)
-
3,000
(3,000)
(3,000)
3,000
6,000
-
2024
£
248,000
-
3,000
-
3,000
-
-
-
254,000
2024
£
254,000
-
3,000
-
3,000
-
-
(6,000)
254,000

The estimated value of employer contributions for the year ended 31 July 2025 is £3,000 (2024: £3,000).

The fair value of the pension plan assets at 31 July 2025 is in excess of the present value of the defined benefit obligations at that date, giving rise to a net surplus of £6,000 (2024: £6,000). This surplus is recognised in the financial statements only to the extent that the academy trust can recover this surplus, either through a reduction in future contributions or through a refund to the charitable trust.

TITAN PARTNERSHIP LIMITED

25

(A company limited by guarantee)

20 Pensions and similar obligations (cont'd)

The charitable trust is not able to determine that future contributions will be reduced and it is not possible for the charitable trust to receive a refund from the scheme, as the specific conditions for this have not been met.Therefore an asset ceiling is in place such that the surplus of £6,000 (2024: £6,000) is not recognised as an asset at 31 July 2025 and the net asset/liability recognised in the financial statements is capped at £Nil.

21 Events after the end of the reporting period

There are no material adjusting or non adjusting events arising after the balance sheet date.

Titan Accounts v5 for signature

Final Audit Report

2025-10-22

Created: 2025-10-22 By: Ben Stone (Ben.Stone@auea.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAzPxZlt6P9wfwf2h_kgSJsT8hBt-tqOKM

"Titan Accounts v5 for signature" History

Document created by Ben Stone (Ben.Stone@auea.co.uk)

2025-10-22 - 7:23:02 AM GMT

Document emailed to Alexandra Lofthouse (alofthouse@equitasacademiestrust.com) for signature 2025-10-22 - 7:23:08 AM GMT

Email viewed by Alexandra Lofthouse (alofthouse@equitasacademiestrust.com) 2025-10-22 - 7:23:18 AM GMT

Agreement completed.

2025-10-22 - 7:50:17 AM GMT