Charity registratlon numbor 1085653 (England and Wales) Company registration number 02878790 COLLAR & TIE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
COLLAR & TIE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Krislofor Darby Harmeet Chagg6r-Khan Jennifer Sollau Alexander Woolner Linden Wal¢ott-Burton Margaret Jones Adam Place Jack Torbet James Coleman (Appoint8d 15 January 2025) (Appointed 15 January 2025) (Appointed 25 September 2024) Arttstic Director ICEO Paul Sutton Charity numbar (England and Wales) 1085653 Company number 02878790 Registered offlc 105 High Street Worcester Worcestershire WRI 2HW Independent examiner Kendall Wadley LLP Granta Lodge 71 Graham Road Malv@m Worcestershire WR14 2JS Bankers National Westminster Bank PIC 1 The Cross Worcester WR13PR HSBC Bank PLC 6 Broad Streat Worcester WR12EJ
COLLAR & TIE LIMITED CONTENTS Page Trustees, report Independenl examinevs report statement of financial activitias Balan sheet Notes lo the financial statements 8-14
COLLAR & TIE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Truslees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with th@ Charitls memorandum and articles of association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102)" (effective for accounting periods Commencing from 1 January 2019). Objectives and actlvities The Charills objectives are to promote, maintain, improve and advance education by the encouragement of the arts, including the arts of drama, mime, dan, singing and music. and to formulate, prepare and establish schemes therefore provid8d that all the objects of the Charity shall be of a charitable nature. The policies adopted in fvrtherance of these objecllves ar8.. To use a mixture of performance, digital media and sound pedagogy io creale experiences for children, young people and disabled people and marginalised and excluded communlties To bulld a network of partners with whom we deploy this dlstin¢t m6thodology and there has been no change to these during the year. Publlc benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what a(Aivities th8 Charity should undertake. Achievements and performance Despite a challenging financial climate in both Ihe public and charilable sectors, Collar and Tie has mainlained conlinuity of Its seNices to children, young people, and schools, thanks to its Prospero technology and its digital first slralegy. We continued to deliver against our charitable ob}eclives through our programme of work around three main areas of aclivity: (1) NeOrked Theatre Collaboratlons {themed projecls that brlng together our partners from around the world), (2> Bespoke projects, whilsl our (3) Prospero, Software Service continued to deliver value to diverse partners and customers. Delivery of our serrfice Prospero is an online distance leaming platfom for theatre and the arts. During the pandemic, Prospero came into its own. Our approach in using Prospero is Ihreefold: first, to create new contenl for schools and young people through Prospero, second, expand school and sludent access to Prospero and thirdly recwil other arls organisations as Prospero Producers, making Content for themselves to distrlbute. We saw the Prospero Library continue to grow wllh new digital learning resour¢es- what we call smartscripts - lo benefit schools and students. Many of these resources were used by schools to support classroom activilies, but many were used independenlly by students forced through repealed lockdowns to learn from home. Almost all of this conlent was avallable free of charge. We also expended Prospero's usage in a range of community settings, including public spaces and public venues. Over twenty arts and community groups continued working a5 Prospero Producers - people who can create share smartscripts in Prospero. These indud8d the Royal Shakespeare Company, Kings College London and Imperial College London, an anticipat@d pr61ude to a major partnership from 2025126 onwards. Thanks lo additK)nal support from Arts Councll England w8 Were able to commission pllot work with Acoms Children's Hospice in Walsall. We continued lo support people in Korogocho, 8 Slum distri¢l of Nairobi, Kenya.
COLLAR & TIE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our three-year programme of work wilh Worcester Monday Night Club for Learning Disabled adults continued into its second year, with the creation of a catalogue of easy-to-use video recipe tutorials in Prospero. These promoted healthy ealing and independence in the wider leamlng-disabled community. W6 developed a series of four Interactive walks using Prospero in collaborallon wlth staff and children at Woodrow First School in Redditch Worc8slershire, one of England's most deprived neighbourhoods. These promoted active lifestyles amongst the family of local children whllsl explortng local history. Further enhancements to Prospero continued to be put In place durlng the year including a major rebrandlng and new fealures developed for the Royal Shakespeare Company but benefittlng the whole range of our Producers. Promotlon of Creatlvity & Teaching We have continued to take every opportunity to promote the arts and our distlnct methodology as a means to advance education. This includ8d presenlations lo National Drama. The theatre teacher's assoclation, locally through a new role in the Worcesler NPO Consortium and as Chair of the Worcestershire Cultural Educatlon Partnershlp. We also have played an inslrumental role in the developmenl the new Scala Arts Centre, a £12 million pound ¢apital project to regenerate a run down part of Worcester city centre. C&T hopes to play a strategic role in the Scala and its future programmlng from 2026 onwards, so our role in developing the centre itself has been critical. Flnancial review The Slatement of Financial Activities shows income of £244,657 (2024.. £223,625}, all relatlng to unrestrlcted funding. As a recognised National Portfolio organisation income is received from Arts Council England, this is delailed in note 4 to the financial statements. The charitable company does nol carry out significant fund raising activities. Unrestricted reserves, being the total reserves of the charity, sland at £86,336 (2024.. £114,441), whlch after allowlng for tangible fixed assets gives free reserves of £79,826 (2024.. £96,609). Reserves policy It is the policy of Ihe Charlty that unrestricted funds which have not be8n deslgnated for a specffic use should be maintained at an appropriate level of up to six month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in nding, they will be able to continue the Charttls current activities while consideration is giv6n to ways in whl¢h additional funds may be raised. This level of reserves has been maintained throughout Ihe year, Risk management The Trustees maintain a risk management strategy, which comprises: an ongoing review of the rlsks that the Charity faces and the implemenlation of systems to assess risks continuously.. the establishment of systems and procedures lo mitigate the rlsk8 identified., the implementation of procedures to minimise any potentlal Impact on the Charity should any of those risks materlallse.
COLLAR & TIE LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future perlods We aim to refine Prospero's position as a leaming and Iraining tool, taking advanlage of our new brand identity. We aim to expand our interests into the fields of vocational training and healthcare, both in Worcestershire. The Soulh Wesl, North Easl and North West as well as in the developing world. We are continuing our Digital Firsl approath lo our services and charltabl8 activities, maximlslng Prospero's potential to support creatlvily, learning and community development remotely. New partnerships, for example Imp6rial College London will enhance this, helping us lo extend our impact on hard to reach communities. We will continue to support olher charities with whom we share values and objectives, deploying Prospero to our mutual advantage. We are targeting our financial and human resources to support this work, reducing expenditure in other areas in light of this focus. We will continue to refine and invest in this strategy as local, r@gional and international conditions allow, We are grateful to the support of our key funders Arts Councll England, and the National Lottery Community Fund in helping us lo operate from a position of financial stability. structure, govemance and management The Charlty is a charitable Company limited by guarantee incorporated on 8 Decembar 1993 and as amended by special resolulions dated 16 June 2000, 22 March 2005 and 27 September 2005, The Charity was established under a Memorandum of Association that eslablished the objects and powers of the charitable company and is govemed under its Articles of Association. The Charity regislered wilh The Charity Commission for England & Wales on 19 March 2001. The Trustees, who are also the Directors for the purpose of Company law, and who served during the year were: Krislofor Darby Harmeet Chagger-Khan J8nnifer Soltau Alexander Woolner Linden Walcott-Burton Margaret Jones Hannah Philips Adam Place Jack Torbel James Coleman (Reslgned 2 December 2024) (Appolnted 15 January 20251 (Appolnted 15 January 20251 (Appoinled 25 September 2024) The Board has the power to appoint additional Directors as it considers fit to do so. Diredors are recruited from across a wide range of expertis6 relevant to the activities of the Charity including the arts, edUtIOn and business. These positions are publicly advertised and appointments are Made through a selection process managed by the existing Directors and the Artistic Director and formally approved by the Board. A retiring Director should be eligible for re-election provided such retiring Director has not served as a Director for a continuous period of 6 years immediately prlor to such re-election. None of the Trustees has any beneficial interest in the Charity. All of the Twslees are members of the Charily and guarantee to contribute £1 in the event of a winding up. The Memorandum & Articles ofAssociation permit thé Charity to enter into contracts with Trustees where the goods or services subject to contract are properly required by the Charity. The Board m68ts quarterly to manage the affalrs of th6 Charity. An Artistic Director is appointed by the Trustees. The Board is responsible for agreeing slrateglc and business plans, policy setting, approval of budgets, ensuring legal compliance and risk management. The day to day management of Iho Charity's affairs is delegated to the Artislic Direclor who is Ihe Chlef Executive Officer, and who is responsible for developing strategic and artistic plans for approval by the Board, and for ensuring the delivery of those plans.
COLLAR & TIE LIMITED TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Thls report has been prepared In accordance with the special provisions relating to small compani&s within Part 15 ofthe CompaniesAcl 2006. On behalf of the Board of Trustees Kristofor Darby Trusts8 28 October 2025
COLLAR & TIE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COLLAR & TIE LIMITED I report to the Truslees on my examination of the financial statements of Collar & Tie Limited (the Charity) for the year ended 31 March 2025. Re$pon$lbllltlos and basis of report As the Trust6es of the Charity (and also its directors for Ihe purpos8s of company lawl, you are responsible for the preparation of the financial statements in accordance wlth the r8quirements of the Cornpanies Act 2006. Having satlsfied myself that the financial stalement5 of the Charity are not required to be audit under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity's financial slatements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under sèction 145(5){b) of the Charities Act2011. Independent examineVs statsment I have completed my examinalion. I confirm that no matters have come to my attention in connection with the examination givlng me cause to believe that in any material respect.. accounting cOrdS wer6 not kept in respect of the Charity as requlred by section 386 of the Companles Act 2006. the financlal statem&nts do not accord with those records; or the financlal stalements do not comply with the accounling requirements of section 396 of the Companies Act 2006 other than any requiremenl that the financial statements glve a true and fair view, which Is not a matter Considered as part of an independent examination., or the financial statements have nol been prepared In accordance with the methods and principles of the Statement of Recommended Practice for aCunting and reporting by charities applicable to charities preparing their Ilnancial statements in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102). ave shoul ncems and have come across no other matters in connection with the examination lo which allention rawn in this report in order to enable a proper understanding of the financial statements to be reached. Elizabeth Needham ACA CTA IVAT) Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Dated.. 28 October 2025
COLLAR & TIE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrictsd Unrestrlctod funds funds 2025 2024 Notes Income from: Donations and legacies Charitable adivltles Investments 41 242,888 1,728 18 222.658 949 Total Income 244,657 223,625 Expendituro on: Charitable activilies 272,762 225,955 Total expenditure 272,762 225,955 Net expenditure and movement in funds (28,105) (2,330) Recon¢lllation of funds: Fund balances at 1 April 2024 114,441 116,771 Fund balances at 31 March 2025 86,336 114,441
COLLAR & TIE LIMITED BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 11 6,510 17,832 Current assets Debtors Cash at bank and in hand 12 36,998 59.208 49,211 92,883 96,206 142,094 Credltorn: amounts falling due wlthln one yoar 13 (11,616} {38,886) Net Current assets 84,590 103,208 Total assets less current liabillties 91,100 121,040 Credltors: amounts falling due after more than one year 14 (4,764} (6,599) Net assets 86,336 114,441 The funds of the Charlty Unreslrided funds 86,338 114,441 86,336 114,441 The company is entitled to the exemption from the audlt requirement conlained in section 477 of the Companies Acl 2006, for the year ended 31 March 2025. The dlrectors acknowledge their responsibillties for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial stalements. The members have not r6quired the company to obtaln an audit of its financial statements for the year in question In accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 28 October 2025 Jennrfer Soltau Trustse Company registration number 02878790 (England and Wales)
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poli¢ies Charlty Informatlon Collar & fi8 Limited is a prlvate company limited by guarantee incorporated in England and Wales and a charity registered in England and Wales. Thé reglstered offlce Is 105 High Street, Worcester, Worcestershire, WR12HW. 1.1 Basls of preparaOn The accounts have been prepared in accordance with the Charity's memorandum and articles of associatlon, the Companies Act 2006 and 'A¢¢ountlng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Slandard app15cable In the UK and Republic of Ireland (FRS 102)" (effective for a¢¢ounting periods commencing from 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which Is the funclional currency of the Charity. Monetary amounts in these financial ststements are rounded to the nearest £. Tho flnancial statements have been prepared under the historical cost convention. The princlpal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable fvture and that there are no material uncertalntles about its ability to continue. Thus the Trustees continue to adopi the going concern basis of accountlng in preparing the financial statements. 1.3 Charitable funds Unrestrlcted funds are available for use at the discretion of Ihe Trustees In furtherance of their charitable objectives. 1.4 Income Income is recognised when the Charity Is legally entitled to it after any performance conditions 2Ve been met, the amounls can be measured r61iably, and it is probable Ihat Income will be received. 1.5 Expendlture Expenditure 15 recognised in the period in which the goods or services are re¢elved. Expenditure include6 attributable VAT whlch Is not recoverable. Expenditure is allocated to the particular actlvily where the cost relates dlrectly to that actlvlty. Governance costs indude those costs Incurred in the governance of the Charity and its assets and are primarily associaled with constitutional and statutory requlrements. 1.6 Tanglble fixed assets Tanglble flxed assets are inltlally measured at cost and subsequently measur6d al cosl or valualion, net of depreciation and any Impaimient losses. Depreciation is recognised so as to writ8 off the cost or valuallon of assels less their residual values over their useful lives on the following bases.. Fixtures, filllngs & equipment Motor vehlcles 33.3 % straight line 250/0 Straight line
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 AG¢ountlng policies {Confjnued) The galn or loss arising on the disposal of an assat is detemiined as the difference belween the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of flxed assets At each reporting end date, the Charity revlews the carrying amounts of ils tangibla assets to determine whether there is any indication that those assels have suffered an impairment loss. If any such IndatiOn exlsts, Ihe recoverable amount of the asset is estimated in order to delemine Ihe extent of the Impairment loss (if any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand and deposlts held at call with banks. 1.9 Flnanclal Instruments Th6 Charily has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instrumènts Issues, of FRS 102 to all of its financial instruments. Financial inslruments are recognised in the Charity's balance sheet when the Charity b6comes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention to S6tt1e on a net basis or to reallse the ass&t and settle the liability simullaneously. Basic finan¢lal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interèst method. Financial assets classified as receivable within one year are not amortised. Bas1¢ flnancial liabilities Basic financial liabililies, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are nol amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payab16 are classified a8 current liabilities if payment is due wlthin one year or less. If not, they are presented as non-current liabililies. Trade creditors are recognised initially at transaction Pri and subsequently measured at amortised cost using the effeclive interest method. Derecognition of financial liabilitles Flnancial liabilities are derecognised when the Charity's contraclual obligations expire or are discharged or ¢an¢elled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. 1.11 Retirement bènefits The Chariiy operates a defined conlribution p@nsion scheme for employees. The assets of the scheme are held separately from those of the Charlty. Th6 annual contributions payabl8 are charged to the stalement of financial activities. 1.12 Defeffed Income Income is deferred where the Charity is not yet entitled to Ihe use of the resources. When the pre-condltions for use are met then the income Is released.
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policles (Continued) 1.13 Llabllltles Liabilities are recognised as soon as there is a legal or constructive obligalion committlng the Charlty to expenditure. Critl¢al accounting estimates and judgements In the application of the Charity's accountlng policies, the Trustee5 are required to make judgements, estimates and assumptions about the carrying amount of assets and Ilabilllies that are nol readily apparenl from olher sources. The estimates and associated assumptions are based on historlcal experience and olher faGtors that are considered to be relevant. Actual results may differ from these estimates. The eslimates and underlying assumptions are revlewed on an ongoing basis. Revisions to accounting eslimates are recognised in the period in which the estlmate Is revised where the VIsion affecls only thal period, or in the period of the revision and future periods where the revision affects both current and future periods. In¢ome from donatlons and legacles Unrestricted Unrestrictsd funds funds 2025 2024 Donations and gifts 41 18 Charitable activities 2025 2024 Income general8d from, and grants within, charitable aclivities 242,888 222,658 Grants recèlved Arts Council England - National Portfollo H@art of England Worcestershire County Councll Arts Council England - National Lottery Projed Grants The Nallonal Foundation for Youth Musl¢ Garfield Weston 72,696 13,435 2,083 44,944 72,696 7,426 44,946 10,875 15,000 148,158 135,943 10-
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from Investments unStrICted Unrestricted funds funds 2025 2024 Interest receivable 1,728 Charftable activities 2025 2024 Slaff Costs Dapreciation Production costs staff Iraining Markating Conferences Travelling and motor expenses Meeting costs Office costs Insurance Subscriptions Office rent Bank charges Freelance project workers Grant application costs Loss on disposal Foreign exchange losses 133,696 10,384 25,034 1,635 9,956 1,044 18,427 2,580 12,990 1,492 1,462 10,533 357 2,195 9,858 450 899 91,684 13,666 24,698 1,667 2,812 1,591 19,884 2,820 15,674 1,498 1,795 5,126 346 13,256 1,388 242,992 197,685 Share of governance costs {see nola 7) 29,770 28,270 272,762 225,955 11
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Governan¢e costs 2025 2024 Basis of allocation Staff costs 25,407 23,880 Charitable a¢livlly Board meeting costs Legal and professional fees Independenl examiners fees 90 1,895 2.378 510 Govemance 1,108 Govemance 2,772 Govemance 29,770 28,270 Analysed belween Charitable actlvities 29,770 28,270 Trustsas None of the Trustees received any remuneration during the year <2024 - £nil) and 1 Trustee was re-imbursed expenses during the year to the value of £20 (2024 - £88). Taxation The charily is ex6mpt from tax on income and gains falling within sectlon 505 of Ihe Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the 6xt6nt that Ihese are applied to Its charllable objecls. 10 Employeos The average monthly number of employees during Ihe year was: 2025 Number 2024 Number Management and charllable activities Adminislration Total Employment costs 2025 2024 Wages and salarles Social security costs Olher pension costs 140,175 10,536 8,392 101,682 5,895 7.967 159,103 115,544 12-
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employeès Icontlnued) The number of employees whose annual remuneralion was more than £60,000 is as follows: 2025 Number 2024 Number £60,001 to £70,000 £70,001 to £80,000 Remuneratlon of key management personnel Key management personnel remuneration was £137,581. 11 Tangible fixed asset8 Flxtures, frttlng$ & èqulpmènt Motor vehi¢168 Total Cost Al 1 April 2024 Dlsposals 107,415 (57,949) 23,980 131,395 (57,949> At 31 March 2025 49,466 23,980 73,446 Depreciation and impaimient At 1 April 2024 Depreciation charged in the year Eliminated in respect of disposals 89,583 10,384 (57,011) 23,980 113,563 10,384 (57,011) Al 31 March 2025 42,956 23,980 66,936 Carrylng amount At 31 March 2025 6,510 6,510 Al 31 March 2024 17,832 17,832 12 Debtors 2025 2024 Amounts falling due within one year: Trade debtors other debtors Prepayments and accrued income 13,500 38,669 45 10.497 23,498 36,998 49,211 13-
COLLAR & TIE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Credltors: amounts falllng due withln one year 2025 2024 Other taxation and social security Trade creditors Other cieditOFS Accruals and deferred income 4,466 2,109 149 4,892 3,922 7,190 27.774 11,816 38,886 14 Creditors: amounts falllng due aftor more than one year 2025 2024 Deferred income 4,764 6,599 The deferred Income shown above together with £2,668 (2024 - £24,485) included in current liabilities, relates to subscripiions for Ihe use of Prospero for periods ranging from 1 to 5 y6ars. The income is released Over the life of th6 agreement. 15 Analysls of net assets between funds Unrestrlctsd Unrestrfcted funds funds 2025 2024 Fund balances at 31 March 2025 are represenled by: Tangible assets Current a5setsl{liabililles) Long term liabilities 6,510 84,590 (4,764) 17.832 103,208 (6,599) 88,336 114,441 16 Retirement benefit Schemes 2025 2024 Defined ¢ontrlbution scheme8 Charge to profit or loss in respect of defined contribution schemes 8,392 7,987 The Chartty operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 17 Related party transactions There were no disclosable related party transactions during the year <2024- none). 14-