SHINE: Support and Help IN Educatlon SHINE SHINE: Support and Help IN Education R•port and Flnan¢ial Ststements 31 August 2025 SHINE: Support and Help IN Education REPORT AND FINANCIAL STATEMENTS 2025 CONTENTS Page Charlty Infomiation Trn$t￿. report incorporating th• Stratsglc report 3-10 Indepondent auditorfs report 11-13 Ststsment of financial activiti85 lin¢orporatin9 surnmary in¢omo and expenditure account 14 Balan￿ sheet 16 Statement of cash flows 16 Notss to the accounts 17-27 SHINE: Support and Help IN Education CHARrrY INFORMATION TRUSTEES Raksha Pattni Cameron Ogden Lorna Fitzsimons Kavita Gupla ma￿ Heffeman Sarah Loftus Lord J O'Neill Prof Samantha Twiselion OBE Paul Green Jonny Utt Mthaelene G Welsh Colin D F hair Vice Chair Appointed 9 January 2025 Appcin18d 12 September 2025 PATRONS David Beckham OBE Sir Howard Bemstein Sarah Brown Prof Gavin Brow Gavyn Davies, OBE Prof Chris Day Sor Alex Ferguson, CBE Prof Chris Husbands Sir Alan Lar¥Jlands Prof Susan Lea Anne Longfi'eld Gary Noville The Lord O'Donnell, GCB Sir Peter Ogden George 03bome Prof Dame Alison RKhard, D8E DL Nick Robinson Prof Dame Nancy Rothwell June Sarpong N￿ola Sh1nd￿r Dr Sushil Wadhwani CBE CHIEF EXECUTIVE AND COMPANY SECRETARY Flona SpoIlM￿ CEO OFFICE ADDRESS SHINE Leeming Building Ludgale Hill Leeds LS2 7HZ BANKERS Barclays Bank Pk Ep$om Branch 82-84 High Street Epsom KT19 8BH SOUCITORS Bate$ Wells 10 Quagn Street Place London EC4R 1 BE AUDrroRS Thoma8 Coornbs Limited The Pentagon 3365 C8nttJry Way Leeds LS15 8ZB SHINE: Support and Help IN Education TRUSTEES, REPORT {INCLUDING THE STRATEGIC REPORD For the year end¢d 31 August 2025 OBJECTIVES AND ACTIVITIES SHINE was first established in 1999 by a group of committed philanthropists wl)o wanlod to improve the allainment of children from l¢xv-income homgs. Our vision. There arg no barriers to learning for children from low-income backgrounds in North of England. Our mission: We develop and fund innovative and sustsinablg programm8s th* work to improve educational outv)me$ for Children INing in areas of dgpriv*ion in the North of England. How we tack]8 barri8rs and unlock potantial: Grant funding.. We provide fund$ to high-ptstentol innovators who need help lo get their ideas off the ground. Support.. We connect grantees lo nthorf(s of support to help ideas leach their full potential. In5ighls.' We turn data from our projects into actionabL9 insights to inform and influence others. S￿ling.. We 6cal&up innovations which show the strongest evidgnG8 of piomisg and help them reach sustainabilty. Our grants are split into strands: An innoval*)n fund forte&hers to support children across the North. Let Teachers SHINE: and Local programmes covering defined geographic areas Within the North. Through 911 our w¢xk, SHINE $oek$ to idenlfy high-polenlial new ideas, and then backs them wrth funding and support to lest out whetherthey work. The approaches with strongest evidenea of promisè are then supported to develop and, wheie possible. scale-up lo reach rnany more children. Previous SHINE-b8cked ideas include Times Tables Rc¢k Stars and Hegarty Maths, vthKh have become some of the rnosl widely used education Programmes in the UK. In reviewing our charitable objeelwes and planning our activitEs, the Trustees of SHINE have taken into account the Charty Commission's general guidance on public benefft and its supplemenlary guidance on the advancement of education for public benefft. ACHIEVEMENTS AND PERFORMANCE SHINE is now backing educational projects across many of the most deprived coritexts in the North of England, in cities, smaller towns and rural 8nd coastal areas. Our work focuses on the core academic subjects, and we use evidence lo knu5 on critical educational phases. where we know children are mog1 vulnerable to falling behind. Some of our latest highlights include= SHINE backed 28 promising innovations wrih o total 01 £3,192,201. working acr0$8 the varied contexts of the North. As well a6 backing a new cohort of high-potenlial ideas. we were able lo PrOv￿e scale-up funding to innovations with the strongest evidence of promise. In th8 2Q2425 academic year. SHINE proi8cls r8a¢hed more than 100,000 children, working with 5.000 teachers and 26,000 parents from more than 700 schools. SHINE continued to support a high p8rformin9 group of project8. despite the many challenge8 currently facing schwb. In the last ye8r, 939h of SHINE funding supported projects that partially or fulty met their goals. Thanks to the incredible gpnerosity of our donors, SHINE delivered the first year of a new £11 million fund for Sunderland sch1￿1$ lo help raise GCSE atlainmenl across the cty over the next 10 years. SHINE: Support and Help IN Education TRUSTEES. REPORT {INCLUDING THE STRATEGIC REPORTI For tho yoar gnded 31 August 2025 We18unched Hartlepcol Reads. an ambitious lownwide initiatNe to ￿se attainment in literacy. This will be delivered alongside complementary programmes delivered by other leading charities. SHINE continuad to advocats for the children and teachers we ser¥e. ￿th growing user engagement across all key corrwnunic*ion channels. Objectiv• 1: Publish SHINE'S updatad grant4maklng strategy In Ilne wilh th• agre•d str•togy to 2029. SHINE'S updated grant-making stralagy was published in the aLrtumn of 2024. Under this Strategy. we have awarded a record amount of funding to new Lgt Teachers SHINE award winners this year, helped scale-up threè promising innovations, and awarded the first tranche of funding for Sunderfand sch)ols. By resetting our grant-making strategy, we have been able lo target resources more eff￿tIwety, support projgcts that dgmonstrale measurable impact, and foster stronger partnerships with schc(*ls and philanthTOPi5ts. This approach has enabled us lo prioritise initiative5 that align with our bn*term vision. encourage innovat￿￿ in leaching pr￿tice8, and build on the significant evKlonce base we have generated to date. ObjKti¥o 2: Launch a new fund for Sunderland sthools which aim5 to achieve 3UStained impad for children from disadvantsged backgrounds in the city. SHINE Sunderland launched in Odober 2024, and the first projects were awarded funding in December 2024. Originally, we aimed to inve51 a minirnum of £1 miifion in the first year, but wo surpassed this goal, u]timalely Committing just over £2 million lo schoo15 across multiple years. The key oulpuls from year one of the fund are as folbws". £2,190,214 invested in muttFyear partnership5 20% of the total £11 miNion commrtted, wrth 80% yet to award 12 projects up and running 41 loachers or school leaders attended 8 workshops and events run by SHINE 13 of the 18 Sunderland sgcondary $ch¢)ols are directly benef￿Ing so far £1.367.587 has been invested to fvnd collaborative projects beyond one schc £181,D17 average grant stze per school 22,597 pupils set to benefrt £96 average cost per pupil In addition to the proieGts now underway, SHINE has worked with external support to develop a comprehensive Evaluation Framework for the programme to help ensure the outcomes ale w￿nitr*ed robustly, both al the individual project level and across the city as a whole. The principles of the evaluation, which has been deslgn8d vAth Syn￿leanI input from participating schools. are as foll¢)WS'. Can lake account of multiple activities and pathways thatload lo impact &ross the fund and over lime. Encompas$es different ways of cdlectirwJ data, and meaguring short-. medium- and long-temi outcomes. Is robust, bul also feasible, making best use of data that 1$ already avail*le, or of ways that teachers and schools are already twking outcomes. Can make good sense of qualrialive data, such as inlerviw•VS. case studies, conversaliorbs and feedback, in a way that helps lo strengthen the overall evidence base of the impact of the SHINE Sundodand fund. We are looking forward to implementing the first year of the evaluation framework as part rrf a broader 1￿year effort lo measure changes in attainment across the ¢ty. SHINE: Support and Help IN Education TRUSTEES. REPORT (INCLUDING THE STRATEGIC REPORTI For thg year ended 31 August 2025 ObJoctlve 3: Recruit at one additional Trustee lo further support the evolution and growth of thé Board. Wfr Tecwited tsvo addrtional Trust905 this year, as part of SHINE'S planned approach to managing suc￿¥10n$ ¢Jn the Bo8rd. Michael&ne Welsh is an inlernationalty respected leade( in strategy and fundrai$in9. A6 well as having a demonstrable passion for the Gw$e and mission of SHINE. Michaelene brings 25 years of experience ross education81 instbtutions, non*rofits, and charities. As a key member of the Fundraising Cluster, Michaelene will supporting SHINE'S efforts to engage with the phiLqnthropic eommunty to maximlse npact on the chitdren we serve. colin Fyfe 15 CEO of Unity Trust Bank. Colin brings decades of leadership exwience and strong financial management, as well as a passion for supporting young people and education. Colin will serye as part of SHINE'S Finance and R Cluster. supwting the oversight of our irwoStThnts and fin8nc8S re broadty. Professor Samantha Twisefton and Cameron Ogden will reach their maximum length of continuous service as Trustees for SHINE in March 2026 and will stop down al the March Board Meeting, bringing the total complement of Board members back to 10 for the remainder of 2025-26. Objective 4: Update SHINE'S brand identty lo refknt current best prath8. This year, SHINE embarked upon an ambitious branding exercise. SHINE'S logo and brand have remaings consistent sin¢e we were fwndgj in 1999. This has been a signfficant strength as we have buih strong recognrtion and maintained clanty down the years, but wa n88d8d to updat8 th8 look and fe&1 to batter T8llect SHINE in 2025. This refresh went beyond aesthetics - f( was 8 strategic alignment of SHINE'S mission. values. and sic)n wdh a bold, contemporary hjentty. It was d8sign8d to und8rscor8 SHINE'S commitment to promoting innovatNe ideas that wll level the educational playing field and expanding rts impact in the years to Gorre. The brand identify ¢hange ￿vofved an updateAI logo and new web8ite design. as well as overh8uling all key detumentation and design lempl8le8. Analytics indicate that audien￿ engagement has grown substsnlialty since the changes were introduced, and we are now focuse(l on continually refreshing and dating our content to keep li relevant and engaging in the years ahoad. Objectlve S: Grow SHINE'S infiuence on the poI￿Y enmronment by working in partnership wlh aligned rAg8nisations. SHINE has Worked wtth aligned organisations on a number of key policy areas this year. In autumn 2024, we led a submissK)n lo the Government's Spending Review on behaW of the Northem Powerhouse Educth"on Consortium to advocatè for higher fijnding for schools who Serve long-lemi disaffvant•Jed pupils. In addition, we penned an Open Letter to the Educslion Secretary. SHINE has also deepened its engag8ment wrth key policy events, including wfth the C&nlre for Young Lives, the Centre for Sccial Justice and the Fair Education AlliarKe. This year we also launched ￿ Insight series on the new￿ revwnped SHINE websrte to showcase the perspactivos and exporigncgs of inspirational teachers working on the frontline of edu¢alional disadvanla9e in th¢ North. These have already led to dired enga3ement wrth thg Education Select Committee as well as m￿la coverage for our projects In kèy regional If(les and publications. SHINE: Support and Help IN Educatlon TRUSTEES, REPORT (INCLUDING THE STRATEGIC REPORT) Forthe year ondgd 31 August 2025 FINANCIAL REVIEW The resurts for the year are set out on page 14 ofthe financial statements. The net outgoing resources for the year after nel investsnent gains are £900,59212024.' incoming resources £9,150,255). L881 year, we rep)rted sign[F￿￿nI nel inc¢)ming resources owing to 8 10-year commitment which h8d been s8cured towards SHINE'S work in Suntjedand. This year, we spent the first £2 million from this pl8dge, resulting in a nel outgoing fvJure for the year, as planned. SHINE met its fundraisirvJ target for the year and remains in a financially robust positic￿. Net Investsnent gains thi3 year were £779.TT1. SHINE maintains a balanced approach lo ils investment portfolio and Trustees arg sali8fied that SHINE'S investsnents continue to perform well, relative to the market on long-lem trends. The Finance and Risk Cluster has maintainèd close scrutiny of the perfomance of SHINE'S investments andwill corbtinue to monitor developments ¢k*sely overthe coming year. The Trustees grateful to the incredible Indiv￿lua]$, companw, trusts and foundations who have generously supported SHINE in the last yeai. Our Spaclal thanks to the following partners and supporters in 2024-25.. The B￿f0rd Family Foundation. the John Armrtage Charitable Trust, and Teachers Group Edu¢*Ic￿al Trust In addition. SHINE is grateful to the Stevè Morgan FOUnd￿On for continuing to c￿fund a major partnership with us in the LNerpwl City Reg￿n this year. Principal rfsl(s The Tfustees have a risk management 8tralegy which compri¥es'. an annual review ofthe principal risks and uncertaintie5 that the charity and its 5ubsidkary fac8S, the establishment of Pol￿0$, Systems and procedures lo mrtigate those risks. and the implemenlalion of pr¢xedur8s designed to minimise or manage arby PQtentral impact on the Gharty should those risks materidise. A summary cfthe main risks and their m(tig8tion ore outlined belw. Major data protedion breach Policy agreed by the Board Registered wi(h Information Commiss￿￿r$ Office Retainer with specialist consultant to uphold compltance IT security maintained through contrxtor Staff aware of data breaeh risks Bimonth￿ dats protedion reviam Lack of Iv4uidty lo cover cash fl(Y•Y needs Investment policy agreed by the Board SLrfficienl levels of liquidity maintained wrthin the overall investrnont portfolio Committee meets and reviews cashflow regularly Internal Fraud (theft or misappropriation of fundsl Expenditure I cheque signatory authorisalion limits 8el by the bank and agreed by the Bowd Annual budget approved by the Board. ond ￿rfOrnianc? moasured v8. the budget al regLdar intervals Written statement of policy and practice on Income receipt Idonatlons) and payment pro¢edure$ linvoices, expenses, pety Cash) exists. and these procedures are c[arrf￿ during staff induction Comprehensive financial racords maintain8d SHINE: Support and Help IN Educatlon TrUSTEES' REPORT (INCLUDING THE STRATEGIC REPORTI Forthe year endod 31 August 2025 Unsatisf&tory fundraising rebJTns Maintsin h*Jh standards, brand qualty and gocd reputation through with donor¥. Active invdvement of the Board Profile and ￿den the donor base Clear understanding an(i cc¥nmunicalion of our purpose and impact as a chorty Development and implementation of a fundraising plon Regular reporting to the Board against targets Signrficanl pressures on 8ehool capacty and teacher rttention lead to grantees being unable lo deltver impact in line with original 90818 agreed wilh SHINE Close contact with donors to manage reporting expectation8. Strong programme management to keep projects on track. Regular review with project leads, staff and Trustees to understand how SHINE can best support projeGts in the context of the 8ector. ReseThe$ The tru8tee8 oversee investments of £6,080,509 {2024'. £5,772.347), tho majority of which comprise Iho expendable endowment funds. The trustees regard the leval of the andowment as suffKignt'. to make up lor any shortfall in budgeted income in a particular y8ar, and to cover any unbudgeled expendilure which may become n￿eSsary. This policy, which is designed lo ensure th* SHINE can meet its Obligat￿n¥ over the next three years, revEwod by the trustees on a regular basis. ReStr￿t￿l funds tolalling £8,053.918 (note 12) irtludes frjnds receivable lo be spent on projects in Sunderland. The year*nd balance is after net present value odju5tmenl8. Nèt funds d￿reaSed by £91XJ.592 this year, ending 81 £14.109.352, compared with £15,009,944 at 31 August 2024. This is due lo planned expenditure In relalk)n to the SHINE programme in Sunderland. All monie5 will te invested in a¢cordan¢o with SHINE'S Arknctes of Association. The Finance and Risk Cluster monitors the endowment ak*ngside our commitments lo fvnding projects. The trustees kr￿￿e&Je that investment market movements could impact the endowment and Ihatthis is notwlthin our control. Th6 cormiittee has oversean thé succéssfiJl management of these funds through our various fund managors. The Trustees use asset allocation and dwersrfication to achieve a bafonce betsveen capital preserv*ion antj capital appreciation. The estimated total return on the investment portrolio, nel of fees, for thè financial period was 11.2%, which is signif￿￿tty above our target of at least 3%. On a rolling onwear bayFS, il 15 the intention of the Trustees lo hokl all monies committed to projects. nel of related Covfunding ccthmrtments, for thè subsequent 12 months in 'safe', liquid interest bearing bank deposits, sk)rt dated giltodged or corporate securities, or in funds who invest in Such strategies, with a moturty profile re￿0nabty matched to Ihe disbursement schedukry. The tsrget asset allocation for SHINE'S inveslmgnts is as follows.. Cash arbd equrvalents Current income I hèdge funds Equ"ty related 15% 1545% 40-75% SHINE: Support and Halp IN Educatlon TRUSTEES, REPORT (INCLUDING THE STRATEGIC REPORT} For the year èndad 31 August 2025 Fundraisirbg SHINE adopts a values-led approach to fUr￿raiSing. We do not ulilise external contractors for fundraising. 8x¢8pt for ￿Casional prospect research, and we do not use di￿1 marketing techniques which could unfairty larggt vulnerable people or contravene their right lo prNacy. SHINE registered with the fundraising regulator. We received no corylaints in the Lgstfinancial year aboui our fundraising activthe8. PLANS FOR FLITURE PERIODS The Trust88s havg set a number of objectives for the fcdlowing year.. Implement an Impact FramewcKk to measure SHINE'S progress against its k)ng-leTm strategy, DeveFop a collaborative approach to supporting SU￿e$sful innovations in Sunderland, ensuring indNidual projects maximise the OPPQrtunity to delwer City-￿de impact for children. Strengthen organisational resilience and knowledge retention by launching a new Friends of SHINE ne￿rk lo connect former key Trustees to n8wer Board members. Enhance SHINE'S colleth.ve impact by ¢Jeepening collaboration across projects and with external partners. Grow SHINE'S visibilrty and policy infiuence through deepening partnerships and gen8r8ting slronger profile for the impact of our 18achers. STRUCTURE, GOVERNANCE AND MANAGEMENT SHINE 1$ a rogislered charity {no.1082777) and a Gompany limited by guarantee {no. 4053509} and Is governed by its Memorandum and Articles of Association. The declaration of trust W8$ made on 17 March 1999 an¢J the charitable company was incorporaled on 16 August 2000. Trustees are appointed by the board of Iru$lees. Any serving trustee18 81igible lo nominate newtruslees for appointment to the board. The induction process for new trustee5 comprises an initial meeting with the Chairman, fdlowed by a formal welcome and induction meeting wf(h the Chief Ex?¢ulive, at which point the following is provided". an informatk)n pack about SHINE,. copies of the original Trust deed and the chaKitable company's Memorandum and Articles of Assock4tion.' copies of the most rocent Irust80$' report and audited financial 5tatem8nts,' and copi9$ ofthe relevant Charity Commission and Companies Housa guidance booklets- "The Essential Tnistee.. What you nggd to kno￿ and -The DvBCtoryd {8nd SeGrelaries) Gu￿". The board of t￿￿t98S is led by thg Chair who is elected to serve for a term of thre& years initiat￿. The l>)ard of trustees sets the policy Iramewgrk for the charitable company and the Chief Executive ￿ad¥ the staff team in day-104ay operations. The board also perIOd￿llY reviews tho policy framework and keeps il up to dale $0 that rt remains reb8vant to the work of SHINE ar￿ the context within which the charitable company is working. The board allocates responsibilty for drfferenl aspects of SHINE'S business to a number of su commill¢esl¢lusters (membership of committees is made up of Irusteos wf(h support from officofS)- the finance and risk clusl&r, the granl-making cluster and the fundraising cluster. These groups report lo the full board. The full board meets at ￿ast three limas each year. The sub4ommittees meet as needed throughout the year. Trustees serv8 for a first18rm of 5 y&ars, and a second leTm of 4 years. Retirements from the board are considered al the March board meeting. Related parties None of our trustees recefve remuneTation or other benefft from their work wrth the chaiity. All truste8s and stoff musl complete a declaration of interest form upon appoinlmenL The Chief Executive holds and updat8$ the register of inte￿$18 on an annual basis. Olhgr than trivial travel costs reimbursement, no such related paty Iransxlions wore reported. SHINE: Support and Help IN Educatlon TrUSTEES' REPORT {INCLUDING THE STRATEGIC REPORTI For thg year end￿ 31 August 2025 Pay and remuner81ion The pay of the Chief Executive is revlewed annualty by the Chair. The pay of staff Is revlewed annualty by the Chief Exgcutivo. Each year staff will nomially recewe a co81 of living pay increase. TRUSTEES. REPORT The Trustees present their annu81 report and the audited financial sla18m8nts for the year end8d 31 August 2025. The report and financial slatements have been prepared in accordance with the counting policies set out in note 1 to the accounts, and comply with the charty's governing ¢S)¢urnenls. the Charities Ad 2011 and the Slalement of Reccmmended Practice.. Accounting and Report*)9 by Charities (FRS 102). Tho TnJS1￿ Iwho are 0150 the direGtors of SHINE.. Support and Help IN Education for the purposes of company law) are reswnsible for preparing the Trustees. Report and the financial statemènts in cordance wrth applicable Lqw and United Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accounting Practice}. Undgr company law th& Trustees must not approve the fina￿tal statwnents of the charitable company unless they are satisfied that thgy give a true and fair vithv of the slate of the affairs of the charitable company and of the incoming resourees and 8pplicalion of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to: $elecl suftable accounting polic￿$ and apply them Consistent￿.. observe the melhotJs and principles of the Charities SORP., mako juégements and estimates that are reasonable and prudent,. state whether apF4ic8ble accounting standards have been follow￿,. and prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper adequate accounting fecords that are suffi¢ient lo show and explain the company's transactions and disclose wf(h Tea$onable accurxy al any time the finan¢i81 po$ilh)n of the ¢horitabk company and enaNe them lo ensure that the financkql statements compty with tha Companies Act 2006. Thay are ￿$0 rasponsiblo for safeguarding the assets of the charitable ¢¢>npany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The TTUStees are re8ponsit)le for the Maintenance and integrity of the corporate and financial inforMat￿n included on the charitable company's website. L8gislation in the United Kingdorn goveming the preparation and di580rnirtal￿ of financial $tatsrr•nts differs from l*Ji$lalion in other jurisdictK•ns. PROVISION OF INFORMATION TO AUDITORS Each of the persons who is a trustee al tha dale of approval of this rewt confirns that.. $0 far as the trustee 15 aware, there is no relevant audit info￿atIOn of which the charitable company's audrtors ar8 unaware,. and th& Irusteo has lakon all $tsps that helshg ought to have tsken a$ a trustee to make themselves aware of any relevant audit infonnalion and to estsblish that the audrtors are aware of that information. This conffirmation given and should be interpreted in accordance with the provtsions of section 418 of the Cortyanies Act 2006. SHINE: Support and Help IN Educatlon TRUSTEES. REPORT (INCLUDING THE STRATEGIC REPORTI For the year ended 31 AUg￿t 2025 AUDITORS A resoluti￿ to appolnt audltors for the next financial year will be wtposed at Board mgeting in June 2026. This trustees report ￿1¢h in¢orporates the Strategic Report. w88 approved by and signed on behalf of the board of trustee8 on 25 March 2026. Raksha Pattni Chair 10 SHINE: Support and Help IN Educatlon REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SHINE: SUPPORT AND HELP IN EDUCATION Oplnion We have audited the financial statements of SHINE.. Support and Help In Educth"on (the 'charilable company'l for the year ended 31st August 2025 whKh comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and not8$ lo th8 financial statements, including a summary of signrfic8nl 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 Stsnd8rd appl￿ble in the UK antj Republic oflreland {United Kingdom Generally Accepted Accounting PractKel. In our opinion the financial statements= give a true and fair view of the state of the charrtable compsny's affairs ag at 31 st Augusl 2025 and of f(s incoming resources and application of resources. for the year then ended., - have b*n propety prepared In accordance with Untted Kingdom Generally Accepted Accounting Praclice", and have been prepared in accordar¢ce y￿th the requirements of the CLxnpank?s Act 2006. Basts for oplnlon We conducteil our audit in accordance with International Standards on Auditing (UK) IISAS (UKI} and applicable law. Our responsibiltttas und61 those standards ¥e further described in the auditor responsibilrties for the audit of the financial Statements $￿tion of our report. We are independent of the ¢harilable company in accordance wrth th8 ethical requirements that are relevant lo our audi( of the financial statements in the UK, including the FRC'S Elhieal Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe thal th8 audit evidence we have obtained is sufficient and apprcpriate to provide a basis for our opinion. Concluslons relatlng lo golng concern In audf(ing the fin8n¢ial ststements, we have concluded that the trustO05' us& of the g￿ng ccfflcem basis of accounliryd in the prepsrstion of the finarKio1 statements 15 appropriate. Ba8ed on the work we have perfomi8d. w8 have not identified any material uncertainties relating to events or conditions that. individualty or coll8¢tively, may cast significant doubl on the charitable company's abilty to continue as a going concern for a period of at kagt months frcm when the fin8nGig1 $tstements ore authorised for is8ue. Our ro$pon$ibililies and the responsibilities of the tNsl8es with respectto going concern are describgd in the relevant $octKin$ of this report. Other Inforn)all¢)n The other infornation comprises the informoti)n inGluded in the Iru8tees' annual report, otherthan the financi￿ statements and our auditor's report th8rgon. The trustees are responsible for the other information. Our opinion on the financial slalemenls does not cover the other information and, except to the exient olherwse expli¢ity slated in our rgport, we do not express any fomi of assurance conclusion thereon. Our responsibilty is to read the other infomalion and, in doing so, consider whethei the other 1nfc￿naty0n is materially inconsistent with the financial statements or our knowledge obtained in the course of the audrt or otherwise appears lo be mater￿llY missl*ed. Ifwe identify such material inconsistencies or apparent material misstatements, we are raquired to delamiine whether this gives rise lo a material misstatement in th8 financial statements themselves. If, b8sed on the work we have perfom*d, we eortchjde that tlwe is a malerk81 misststement of this other infomation, we are required to report that fact. We have nothing to report in this regard. Continued on next page SHINE: Support and Help IN Education REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SHINE: SUPPORT AND HELP IN EDUCATION Continued from previous page Oplnlons on other matters prescrlbed by the Companles Aet 2006 In our opinion, based on the work undertaken in the ctsurse of the audrt.. the infornation giv8n in the Iru81888' report, which includes the directors. report prepared for the purposes of company law, for the financial year ￿ whtch the financial statements are prepa￿d ' consistent ￿th the financial statements.. and the direclor8' report included wlhin the trustees, report has been prfjpar￿ in a¢wrdance with applicable legal requirements. Matter8 on whlch wo are roqulred to report by exceptlon In the light of the knowledge and understanding of the chariloble company and it$ environment obtained in the course (rf the audil, we have T￿t ￿entIfied matorial misstal8m8nts in the directors, report included within the trustees. report. We have nothing to report in respect of the followng matters in relation to which the Companies Act 2006 requires us lo report lo you rf, in our opinion., adequate accounting records have not been kept, or relums 8dequate for cwr audit have not been received from branche¥ not visited by us.. or the financyal stslements are not in agreement ￿th the accounting records and relum$- or certain diselosures of trustees, remuneration spxified by law are not made,. or we have not received all the infomiation and explanations we require for our audit.. or Responslbllltles of trusto As explained more fulty in the Iruslees, responsibilities statement set out on page 9, the trustees Iwho are also the directors of the chsritsble company for the Purposes of company ￿wI are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal eonlrol as thè trustees deterrnine is necessary to enable the preparation of rinancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial stslements, the Irustegs arg responsibl8 for assessing tho charitable company's abilty to continue as a going concem, dis¢losing, a$ applicable, matters related to going concem and using the going concern basis of accounting unless the twstees either intend to liquid8te the charitable company or lo cease operations, or have no realist￿ allernalwe but to do 80. Our resp0nslbll￿5•s for tho audlt of tho flnancial statsments Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material mi8stslement, whether due to fraud or error. and lo issue an aud((ols report th81 Includes our opinion. Reasonable asBurance is a high level of assurance, bul is not a guarantee that an audit conducted in a￿ordanCe with ISAS IUKI will a￿ayS deted a material misstatement when il exists. Misstatements can arisa from fraud or error and are considered material rf, individually or in the aggregate, they could reasonabty b8 8xpe¢t8d to influ8n¢e the *¢onomt¢ decisions of users tskan on the basis of these financ￿1 s18tement$. Irregular¢ties, including fraud, are instsnces of non-compliance wilh laws and regulations. We design procedure8 in Ilne wllh our responsibilities, outlined above, to delecl material misslalements in respect of irregularrties, including fraud. The extent lo which our procedures are capable of deleding irr8gularilies. including fraud is detailed b81( We idenlrfied areas of laws and regulations that could reasonably be expected lo have a material effect on the financial statemen18 from our knowledge of the business and sector. enquirie9 of dir8Ctor8 and management, an(J Teview of regulatory information and coffespondence. We communicated identified law5 and regulations throughout the audi( team and remained alertto any indicat￿n of nonwcomplian¢e through the audit. We ￿1￿Us5ed wrth directors and management the polKies and procedures in place to ensure compliance with laws and regulations gnd otheN8e prevent, deter and delect fraud. Continued on next page 12 SHINE: Support and Help IN Education REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SHINE- SUPPORT AND HELP IN EDUCATION Continu&J from previous page Based on this understandlng we desbned our audlt prttedures lo identify nonThccmpliance w6th such laws and re9ulations identified as potenlialty having a malorial offect on the financi81 stslements. Our procedures included review of financial statement inf0m￿tIon and lesling of that infomation, enquiries of management and examination of documents, analytical procedures to idenlfy unusual or unexpected relationships that may indinle fraud, and procedures to addre85 the risk of fraud through director or management override of eontr(As. At the completion stsge of the audit. the engagement partnerfs review incI￿￿ed ensuring the audr( team had approached their work with appropriate professional scepticism and thus the capacity to identrfy nonwcompliance wth laws and regulations and fraud. The primary responsibilty for the pwenbon and delgclion of fraud rests wth those charged with governance and management, and we cannot be expected lo detect non-compliance with all18ws and regulations. There are inherent limttations in the audit procedures described above and the further removed non-compliance of and regulati)ns 16 from the events and transactions refi*led in the ffinancial statements. the less likety we would become aware of it. In addition, the risk irf not detecting a material mi5$1atemenl relating to fraud is higher than the risk of not d8lecting one r6sulting from eThor. as fraud may inv¢Jlve delibeiate Csjneeaknent. Use of our report This report is made Solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Ad 2006. Our audrt work has been undertaken so that we might stale to tho Charitable company's members those matters we are reqUI￿d lo slate to them in an auditorfs report and for no other purpose. To the lullest extent peimitted by Lgw. we do not accept or assume responsibility to anyone othef than the charitable company and the charitable tompany's members as a body, for our a il work. for this rewrt. or for the opinions we have fomied. Shaun Pullan ACCA Thomas Coombs Limited Statutory Auditor Chortered Accountants 3385 Th& P&ntagon Century Way Thorpe Park Leeds Wesl Yorkshire LSIS 8ZB 25 March 2026 13 SHINE: Support and Help IN EduGation R8PQrt and Financial Statements 2025 Statèmenl of Financial Activities InCIL￿ing Income and Expenditure Account For the year ended 31 August 2025 Expendable Unrestricted Restricted Endowment 2025 2025 2025 Total 2025 Total 2024 Note In¢omg and expondltur• a¢¢ount Incomè and endowments Donations and legacies 98,575 1,605.632 1,704.207 10.441.861 Total 98,575 1,605,632 1,704,207 10,441.861 ExpendSture on: Raising funds Charitsbl& actwf(ies 111,829 3,260,561 111,829 212,719 12,180 3,272,741 1,852.555 Total 3,372,390 12,180 3,384,570 2.(E5.274 Net gain$ on invgstmfjnts 779,771 779,771 TT3.668 Net lexp8nditurollincomo 98,575 11,766,758) 767,591 1900,592} 9.150,255 Transfws bolwgen funds 198,575) 98,575 N•t movement In fund* {1,786,758) 868,166 1900,5921 9.150,255 Roconclliatlon of funds: Totsl fund$ brought forward 9,820,676 5,189.268 15,009.944 5,859,689 Total funds carried fornTard 12 8,053.918 6.055,434 14,109.352 15.009,944 All of Ihe above results are derNed from continuing activities. The Charitab￿ company has no other omprehensive income other than those staled above in the currgnl and p￿Ceding year. C￿￿￿paratIVe infomiation for the previous financial year is provided at Note 7. The notss on pag&s 17 to 27 fomi an integral part of these financial slalemenls. 14 SHINE: Support and Help IN Education Report and Financial Statements Balance Sheet As at 31 August 2025 Expendable Restrided Endowment 2025 2025 Unrestricted 2025 Totsl 2025 Total 2024 Flxed A$￿t0 Tangible assets Investments 1,985 25,075 1.985 3,536 6.055.434 6.080.509 5.772.347 Total fixad assets 27.060 6,055,434 6,082,494 5,775,883 Current Assets Debtors 10 10,241,583 10,241,583 12.024.825 Cash al bank and in hand 1.798,018 1,798,018 1.213,746 Total current assets 12.039,601 12,039.601 13.238,571 Llabllltles Creditors.. Amounts du8 within one year (2,174,206) (2,174,206} {2,702.6681 Net current a$sets 9.865,395 9,865.395 10,535,903 Total assets less current Ilabllltl8s Creditors.. Amounts due after more than one year 9.892,455 6.055.434 15,947,889 16.311,786 11 11.838.537> 11.838.537} 11,301.8421 8,053.918 6,055,434 14.10S.352 15,009.944 The Funds ofth• Charity Expendable endowment fund$ Undesignated DeswJn*g¢J Restricted income funds Unrestricted funds 12 12 12 12 6.022,771 6,022,771 5,163,980 32,663 32.663 25,288 8,053.918 9,820,676 8,053.918 Total charlty funds 8.053.918 6.055,434 14.109.352 15.009.944 These financial statements were appioved and authorisod for issue by the Board of Iruslees on 25 March 2026. Signed on behalf of the Board oftrustees Raksha Pattni Chair The note8 on pages 1710 27 fomi an integral part of Ih8se fina￿la1 statomenls. SHINE: Support and Help IN Education Report and Financial Statemonts statement of Cash Fb)ws Year ended 31 A￿uSt 2025 2025 2024 Ro￿￿¢1114t10n of not {•xpènditureylncome t¢ net cash flows from operating actiYitSes Nel lexpenditureyir¢om9 {900,5921 9,150,255 Adjustments for Depreciation of tangible a$$ets Los¥ on disposal of tangible assets Gains on inv8Stmenls Decre8$8 in d8btorsllincrease) Increaselldecreasel in creditor8 1,976 2,089 510 In3.668} 18.256,265> 11.093.540> 1779,7711 1,783,242 8,233 Nel cash inflowlloutrknv} from operating activitles 113,088 1970,619) Cash Ilow 8tstemont Nel cash inflowl{ouffiowl from operating adNities 113,088 1970,619) Nel ca8h transfernd from inve8tsnenl porfolio Proceeds on sale of investments Purchase of fixed assets Purehase of invesbnenls 6,283 465,326 1425) 2,2S8,276 (318) {500.4n) Net cash inflow from investing ad1v￿@S 471.184 1,757,486 Increase in cash 584,272 786,867 Cash and cash equrvalents at 1 September 2024 1.213,746 426,879 Cash and cash equNalents at 31 August 2025 1.798,018 1,213,746 Anatysis of cash and cash equfvalonts Cash at bank and in hand 1,798,018 1.213,746 The notes on pagos 17 to 27 foTm an integral part of these financial slalemgnts. 16 SHINE: Support and Help IN Education Report and Financial Statements Notes to the Financial Statements Year ended 31 August 2025 Accounting policies Bas1$ of prgparatlon The finanGial sletemenls h8ve been p￿Pared in accordance with Aceounting and Repcrting by Charities.. Slatement of Recommended Practice (effective 1 January 20191 applicable to charities preparing their accounts in accordance with the Financr41 Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021, charit￿ SORP FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. SHINE meets the defin*ion of a public benerrt entty under FRS 102. Assets and liabilities are inrtialty recognised at historical cost or transaction value. wf(h the exception of fixed asset investsnents, whieh arè re-measured al fair value. Th6 presentation curr6ncy18 £ sterling and the financial statements have been rounded to the nearest £. Charitabl? status and ggneral infomiation SHINE is a charty regislered al the Charty Commission and a Company limit￿ by guarantee incorporated in the United Kingdom and registered in England and Wales. The address of the reglstered office is provided on page 2 and rjetails of the principal activrties are discussed in the Trustees. Report. Golng concorn The accounts have been prepare(l on a going ¢oncgrn basis. The tnjslees hav8 consider8d a period of at least 12 months from the appToval of the financ￿1 slalements in assessing the approprk*ene$s ofthis basis of preparation. Income accounting policy All incwiing rgsourcgs are included in the Stat8monl of Financial Activit￿5 (SOFA) when the charty is legglty entitled lo the income 8fter any performance conditions have been met, the amount can be measured reliably and it is probabke that the income wll be Teceived. For donations lo be recogniged the ch8nty will have been notified of the amounts and the settlement dale in writsng. Ifthere are conditions attached lo the donation and this requires a Wel of performance before entitlement can be Dblained then income is d8ferred until those condrtions are fuly met or the fu￿[ment of those widilions is wlthin the control of the charity and it is probable Ihal they will be fulfjllgd. &gnificant dc￿at￿)nS receivable after rnore than one year have ken disC￿unted to reflect the timè value of money and the net present value. Investment income 18 eamed through holding assets for invesknenl purposes s￿h as shares. It includes divKlends and interest. Where it is not pr*icable lo identify investment management costs incurred wfthin a scheme with reasonable accuracy the investment income is reported net of these Costs. It is included when the amount ¢an be measured reliably. Interest income le￿niSed using tha aff￿t￿e interest mathod and dNid8nd. 17 SHINE: Support and Help IN Education Rewrt and Financial Statemenls Notes to the Financial Statan￿ts Year ended 31 August 2025 A¢￿Unting polKig$- continugd Fund accountlng unreStr￿ted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the chèrltable company. Enrkjwmenl fvnds relate to funds donated where the capit81 is relaineil and Ihe income is for use by the truslees in furlher¢ThJ Ihe objects of the charitable company. Where the tnjslees have a right to utilise ¢aprtal, th69e fundg are 9hown as expendable endowments. ￿ere the trustees h8Vg desiwated $u¢h fund$ lor the award of gr8nts, bLrt thpso have not yet been formally awarded to speafic benef￿arles. they are recognised as designated expendable endowmenls. Restrf¢ted fuTrJs Comprise those l￿d$ which aro subject lo $peur￿ ¢onditions imposed by donors or by the purpose of Ihe appeal. All income and expenditure is shown in the Slalernenl of Financiar Activiti"es. Judgements and 8stimatas The accounts aro prepared on an 8ccwal$ bas1$. Multkyear grant ￿mm￿le￿I8 arg accYu9d In full In thp finandal year that Ihey are awafthd. Th• discount fa¢ior ap1￿18d to ￿gnificant debtors and crèditors du& after mor• than on• yoar to reflect the lime value of money and Ihe net present value was based on the United Kingdom 10Y Bond Yield, notè 12. Expwdlturg Charf18ble exp¢nditure ¢omprl8es expenditure related to the direct furtherance of the eompany's charitable objectives. They include support costs and those Incurred In connectlon with the management of the chaTitable companys a&8els and organisational administration. Fundraising actwity c0513 are th058 incurred in seeklng voluntsry contributions for the ¢haiitable cgrnpany and in publ￿¥1￿9 th• tharilablo ¢ompany. Grants awarded are shown in the Stslemenl of Finandal Actiwlies and are recognised based on when the award ol the grant has bean ccmmunicated to the recipient. Grants a￿ recognis8d as a liabilty and the maturity olthose I.a￿lI￿e6 is disclosed on the balance sheet in accordance wlh the payment Schedule of each award. Govemaricè ¢osls ¢ompris• all costs identified wholly OT mainty attributabl• to ènsuring Ihe public accountability of Ihe charity and ils compliance with regulation. Th8s8 costs hav8 b88n allocated as support ojsls to fundrai￿ng actswtie¥ and grant admini$trntion in proporbon lo the related $toff time. Tangible fixed assots Tangible fixed agsels are ststed al cost indudlng any Incldenlal expense8 of a¢qui8ilon. Depreciation is provided on all tangibl8 fixed assels at rates calculated to write off the cost on a striighl line basis over their èxpectad usoful ¢conomic lfves as foll¢)WS.' Offi¢e equipment 5 years 18 SHINE: Support and Help IN Education Report ond Fin8ncial Stal8ments Notes to the Financial Stalwments Ye* ended 31 August 2025 Accounting policies- continued Investments Llgted Inve8tm9nts 8r& stated al fairvalue as at the balancè sheet dal8. Th& value of Investrents are detamiined by the valuations submitted monthly by the manag&rs of Ihe indNidual investments. The Statement of Financial Actwllles indudes realised and unrealised gains and losses arising from thè revaluation of the investment portfolio throughout the year. Dis¢losura is mada In note 9 of the mov&ment in market value of the invesiments during tho year. The Inv8stmenl$ were wholly in Managed Funds. Othèr financlal Instruments Other financial in51rumen15 arise directly from the ¢ompany'$ ¢haritable actNitTes. I trade al￿ other debtors are inibalty recognised at transactign value, as none contsin in substance a financing transaction. Thereafter trade and other debtors are reviewed for impaiment where there is objeLlive evidence based on obseNable d8ta th81 the balance may be impaired. No collateral is held against trade and other receivables so the exposure to credit risk is the nel balance of trade and other debtors after allowance for impaiment. The company'8 cash holding$ comprise t)n demand balances onty. All ca8h i8 held with banks with strong external credit ratings. Cash held lo meet medium term grant comm(tments is classrfied fixed asset investments as part of the charitable eompany's expendable endowment. Trade and other creditors and accrual8 are initially recognised at transadion value as none represent a financing transaction. They are onty derecognised when they are extinguished. Penslons For defined contribution schemes the amount charged lo the Statement of FinanGial Activities in res￿ of pensK¥n costs and other po$l-reliremenl benefrts in the amount of contributions payable in the yoar. Diff8r8nc8s b8tsveen contributions payable in the year an¢J ￿ntrIbutIOnS actually paid in the year are shown as either accfuaL8 or pr&paym&nls in the balance sheet. Forelgn •x¢hange Monetary assets and liabilities denomlrbated in forewjn currencies are translated into sterling at rates of exchange ruling al the b8L4nce sheet dale. Transactions In foreign Cuffencies a translated into sterling al the rate njling on th8 date of th8 tranS￿tiOn. Exchange gain5 and bsses are rectsgnised in the profrt and loss account, Net income 2025 2024 Net income 15 slated after charging: Auditor's remuneration for audit seNces Daprecialion (see note 8} 12,963 1,976 10,038 2,089 19 SHINE: Support and Help IN Educatlon Report and Financial Statements Notes to the Financial Stslements Year eThd￿ 31 Au ust 2025 In¢ome from donations and legacias Unrestricted Restricted 2025 2024 Donations Discounting provision 98,575 1,5￿.477 1,659.052 12,188.047 45.155 45,155 (1,746.186) Totsl 98,575 1.605.632 1.704.207 10,441.861 Funding rac8ivabla 2025 2024 Total funding receivabl Discounting pTo¥i$ion 11.861,536 13,633.165 {1,701,0311 (1,746,186) 10,160,505 11.886,979 Expenditure Other direet ¢0sls Stsff ¢osts Total 2025 Totsl 2024 Grants Ralslng funds Support costs Govèmancè costs allocat•d 83,437 4.934 17.866 5,592 101,303 10,526 178,525 34,194 8B.371 23,458 111.829 212,719 Charltablo activlths Gran15 Support costs Govemance costs allocated 2,911,552 2,911,552 1.490,183 338,090 325,038 23,099 37,334 183.097 10,826 154,993 12,273 193.923 2.911,552 167.268 3.272.741 1.852,555 Total 282.294 2.911,552 190,724 3.384,570 2.CE5.274 The ￿lOcatiOn of $taff costs antd governance wsts between a¢th¥A¢ies is on basis of an apportionmont of staff time. Total govomanco cos15 for the y8ar were £33,825 {2024.. £71.528}. 20 SHINE: Support and Help IN Educatlon Report and Financial Slatemenls Notes to the Financial Stat8ments Year ended 31 August 2025 Expenditure- ctsnlinued 2025 2024 Grants Outstanding liabilitres ot 1 September New grants 8warded during the yeAr Underspends Paid during the year 3,983,34B 5.068.988 3,192,201 1,587.925 1280,6491 197,7421 12.912,1921 12,575,823) Outstsndlng liabilities al 31 August 3,982,708 3.983.348 Award$ falling due within one year Awards falling after more than one year 2.144,171 1.838,537 2.681.506 1.301,842 3,982,708 3,983,348 Grants: the trustees take decisions on applications based on the recommendations of the exec#Jliv8 team. Al grants approved in the period arè listed below. 2025 2024 Amy How Ltd 59,450 Arthimagicians Aspire North East Multl Tru8t 111.380 Benton Deno Primary Sthool Bamsley Academy 25,QOO BuTlington Danes Academy Biddick Academy 172.183 Fairfield High School lor Girfs Bishop Chadwid( Catholic Trust 114,538 Great Heights Academy Trust BTadlord Collagè 13,978 King's Leadership Academy Castle View Ent8rprise Academy 104,1100 Leeds Sixth Fomi College Chartered Cdlege 396 LTS L1 Sam Stenton Chatta 180,tXJO Reading on your hèad Christ's College 326,473 Sthool for ScYAal Entrepreneurs Cumberland Virtual S¢hool 25,C#)O Southmoor kndemy Educational Divers 15,000 The Story Project CIC Harri$ A¢odemy Chain 20,000 Three Saints HvJhfield Nursery School 20,OLKJ Univ8rsity of Manthèsler Imp8cIEd Evaluation 19,780 University of Sunderfand Kepler Scho 181.284 WaterdrfFe Meadow Macmilan Academy 22.200 Vlhitefield Primary School Monkwearmoulh Academy 210.200 North East Leamlng Trust 499,640 Northem Education Trust 488,965 Our Lady ofPty RC Primary 20,000 Sacred Heart CatholiG Hlgh School 74,777 Sandhill View Academy 141,251 Southmoor Academy 184.980 Sl Augustines CE Primary School s,000 St Mary's Catholic College 10.089 Thornhill Aeademy 136,960 Untver5ity of Manchester 9,677 50,400 16.000 25.000 27.194 25,000 10.000 10,000 25,000 107,153 15,483 5.000 600,000 323,406 192.808 80,013 34,470 41,000 Gross awards 3,192.201 Less- underspends and adjustrnents in respect of prevlous year awards 1.587,925 Underspends 1280,649} {97.742) Net grants reGo9nised 2.911.552 1.490.183 All expenditure relates to reslrthd funds. 21 SHINE: Support and Help IN Education Report and Financial Statemer Notes lo the Financial Slatemsnl$ Yeai gnded 31 August 2025 staff c08ts 2025 2024 Wages and salaries S¢xk91 security c08t8 Pension c08ts 267.840 1,487 12.967 341.235 36.317 17,673 282,294 395.225 Pension costs represent the Charitab￿ company's contribution to the defined contribution personal pension plans of employees. Tha number of empbyaes, anatysed by fundion was.. 2025 Number 2024 Number Generating funds Grant making Govemance 10 The full lime equtvalenl employee5 were 6 {2024.. 81. Number of staff who eamed bth8en'. £60.001- £70,000 Ipro-rata) £70,001- £80,000 Ipro•rala) Key managemerrt pergonnel, beirg the chief 8x8cubve, T￿l￿d aggregate remuneration of £60,81512024.' £73,013) in the period. This figure 1$ inclusive of salary, soc￿1 securty costs and empkJyerf5 pension contributions. Taxation As a registered charity, SHINE is exanpl from taxation of income and gains falling wrthin Section 505 of the Ta¥es Act 1988 or SeclK)n 256 of the Taxation of Chargeable Gains Art 1992 to the extent these are applied to its charitable purposes. No tax charge has ￿lSen in the year. 22 SHINE: Support and Help IN Education Report and Financial Statements Notes 10 thg Financial Statements Year ended 31 August 2025 Comparative InfO￿at1(}n- $latemnl of financial a¢tNities 2024 Year ended 31 August 2024 Expendablg Endowment 2024 Unrestrlct8d 2024 R8stricled 2024 Total 2024 Ineome and •xpend5tur• account Incom• and •ndowments from: Donations and kgacies 215,358 10,226,S03 10.441.861 Total 215,358 10,226,503 10,441.861 Expenditurg on: Raising funds Charitable activilies 212,719 1.864,930 212,719 112.3751 1,852,555 Total 2,077,649 (12,3751 2,065,274 Net gains on investments 773,$68 773,668 Ngt In¢omg 215,358 8,148.854 786,043 9,150,255 Transfers b8lwgon funds (215,358} 1,671.822 (1.456.464) Nfrt movomont In funds for the year 9,820.676 1670,4211 9,150,255 Reconclllatlon of funds: Total funds brought fo￿ard 5,859,689 5.859,689 Total funds carried foTh¥ard 9,820,676 5,189,268 15,009,944 23 SHINE: Support and Help IN Education Report and Financial Statements Notes to the Financial Statements Year ended 31 ALWUSt 2025 Tangible assèts OffKe equipment Total Cost At 1 Septembgr 2024 Additions 31,546 425 31,546 425 At 31 Al￿Ust 2025 31,971 31.971 DepreCiat￿n At 1 September 2024 Charge for period 28,010 1.976 28.010 1,976 At 31 August 2025 29,986 29.986 Net book valu& At 31 August 2025 1,985 1,985 At 31 August 2024 3,536 3.536 24 SHINE: Support and Help IN Education Report and Finan¢lal Statem¢nls Notes lo the Finan¢io1 Statements Yw ended 31 August 2025 Fixed asset inveslments Inveslm8nls anatysls 2025 2￿24 List￿ investments and funds v refvrence to such inv8slme Egerton Capitsl Equrty Fund Ilralandl Bri&aes Communlty Development IBCDI V8nlum Fund111 Al investments are ￿rr￿d at their fair value. Investment in equities and ffixed tiitere81 $ecurilies are all traded in quoted public mark8ts. primarily the London Stock Exchange. Asset sales and purchases ar8 recogni8￿ at the date of trade at cost (that is their transaction vduel. The sijnrficance of fIr￿nG181 instruments lo the ongoing financial 8uslainability of the Tru81 18 considered in Ihe financial review and invetstmenl poliGy aTrJ perfomiance section8 of the Trustees, Annual Report. The main risk lo the Charty frcm the financial instruff*nls arise5 from un¢8rtain investment Ma￿ets resulting in variable income 8nd capital relurns from the portfolb of as88ts. Currency translation r￿kS rgmain for those companies and btsnds that are exposed to overseas earnings and assets. Liquidty risk is anticipat￿ lo be low as all assets are traded on rttognised exchanges with good liquidfy and high trading vdLThes. The Charity's porfolio has no m8t8ri81 investmant holdings in markets subject to exchange controls or tradlng restrfctlons. The trustees manage investment risk, as detailed in the Trustees Report, by operating an investment policy that provides for a high degree of dNersffication ol holdings within investment assat classes that ￿ q￿ted on recognised stock exchanges. The Charity does not rnake UBe of derivativas and simitar complex financial instruments as lakas tha vh8W that investments are held for their longer term total retum. 10. Debtors 2025 2024 Funding receivable Other debtors Prepayments 10.180.505 11.888.979 79,183 133,409 1,895 4.437 10,241,583 12,024,825 Funding ￿CeiVab￿, other debtors 8nd prepayments due wrthln one year are £2,220.613 12024.. £3,108.1971 and after more than one year are £8.020,97012024.. £8,916.628) after discounting to nel Kwent value. 26 SHINE: Support and Help IN Education Report and Financial Stat8ments Notes lo the Financial Statements Year ended 31 August 2025 11. Creditors 2025 2024 Credrtors in the course of ordinary operatKJns Grant commitments due wf(hin on8 year Taxation and socia security costs Other credstor8 Accruals 2.514 2,144.171 1,168 2,681.506 7,365 3,089 9,540 2.559 24,962 Amounts due wilhln one year 2,174.206 2.702.668 Grant commitinents due after more than one year 1,838.537 1,301,842 Creditors ￿11 be metfrom the expendable 8ndThYmenl rf Ihore are insuffi¢ienl income funds in the futu￿. 12. Statement of funds Balance 1 Sept Incoming Outgoing 2024 resources resources Nel investment gains Balance 31 August 2025 Transf6r8 Expendable Endowment.. Undesignated De5vJnaled Restricted funds.. Operating and prr48cts Sunderland Unrestricted funds 5,163,980 25,288 779,771 79,020 6,022,771 19.555 32,663 12,1801 1,378,747 (805,4821 226.885 12.566.908) 98,575 573.265 7.480.653 9,820.676 198,575) Total funds 15,1)09,944 1,704,207 13.384.570) 779,7T1 14,109.352 Included vAlhln the eyndable endowmenl are net unrealised gains and losses on the revalualkjn of fixed asset investments. Details are shown above in note 9. The designated gxpgndable &ndowmgnt balance rglates lo funds deS￿nated for grants by th8 tru$le8s at the balon¢e shept date, but nol fi)rm¥lly warded to beneficiaries. The restricted fvnd for Sunderland noted above. represents a restrided balance of £8,988,94812024.' £11.566,862} (refiecling income less expendtturel discounled to reflect the roceipl and payment of funds over a period greater than one year by £1,508,295 12024.. £1,746,186), giving a net balance ot £7.480.65312024.. £9.820,6761. The appropriatè discount factor element will be unwound each year to maintain the balance at the nel pr&3enl value arnounl. 13. Tnjstees and related party disclosuros During the last period the Charty received £750,000 in multi-year pledges from Trustees, whereas thi8 period there were no significant addilbjnal pledges mae. Tru¥tees were rewnbursed lor travel and subsistènce expenses lotalling £3,35012024.. £3,311). 27