ONEf NATIONAL DEBTLINE BUSINESS DEBTLINE ADVICIE TEMEJNTS umber 1099506 Company rtumJQr 4741583 IEngl3fd &
Chair's foreword It vs a prmlege to wesent our 2024Annual Report-a year in whith the MoneyAthe Trust helpe(I more peoplethan ever befo. arbd the Asthe impact ofcost of IDnng preSre$ continued to bear (town on hou5etrKAd budgets, NatK)nal Debdine and Business Debbine helped MO peOe In 2024 than Èvor beforewith 2n.900 IntÈrattths by phone and wÈbchèi-an increase of36 We thweLI a eSt CWaDng swpkn5 whi cnuing t01rN in ourtransforma programrne- ensuring thatwe remain sustainab. adaptable. an(J fcud on im With 8 million people in need of debt ce. knowthere is so much more need to do. I look f0ry44rd to working wilh thjr many partners to significanty grow our reach and lrnpbct asthe Money Advre Trust enters %hai 11 be a new era f(K ourch81iS contributson 10taclng debt inthe UK. This imptxtsnt invethent tomes ai a bme %¥hen we have renewed our missKJn and ernbarked on a new 5traiegy io lrarforrn our semces. broaden OUT reach. and ¢0 more to eventfinanoal drfficuty in the yeats ahead. We lounched our new digitsl acfvre plarform. My Money &ep5, which is tyaying an impowt role as part of our e(l. rTwth-channel 8dMce semces. Yw Can ad mfxe from our ChiÈfExecuiNe. Steve Vaid. on thÈ nexi page. And our Building Up Bu>nÈss pikni developed In partnershjp Awva. to leverage the expertlse of Business Deblline 8£knsers to help peoplewho are setung ouion those cmo81 fir5tstÈps In up a business. The Board ofTru*ee5W(MJld like io terate our thanks io our partners and funders for Iheir conunued 5UPPOrt forthe lkneyAthce Trust's lrf&changing work. Christine Farni5h CBE c1r of Twusiees. MoneyAdvi¢e TfU81 From a financial perspeclve. 2024 was a of responsitye growth. And l %MII to that ry gratitle to my fdkm Btsard members lortheir commiiment to Suppon9 our talented team ofcolleagLES across tre chjrityto dehver Ihe5e resulls.
Ayear like no other AftÈrjo¥fiirvJthi5 remarkable tharity in earty 2024.1 wa5 5trLKk bythe Debt Advice Provlder of the Year to grnwn9 ourlmpattfwthe peopbe VIÈ h. 2024 CreditAw8rds Tryether vle hèv& r&focuse(J our mission - to help weventfinan¢kg1 ¢Jifficutyand move problem debtfrom pewe's INes- and sei to work on creating a new strategy for the yÈ8is ahÈ8d. Oui increased capacrty at National Debtline and Business Debljine enabled us to help more people ihari ever before. Ihanks io Ihe successful dÈlNery of two maJor debt athce coniracrs for Ihe Money and Pension5 SeMte- and we introduced nltant innovations wlh My Money steps and Building Up Business. Our new strategywll see us transfomi tyjr Naiional Debtline and Business Deblline service5. Vrith new technthogy. irnproved customeriourneys and deeper partnershs enhancing our core a¢wce oftering. Best Vulnerable Customer Support Inltlotlve I W1 like io tske thi% 0ppOrDJrtyto Say lhk io every organIsaD an inllividual who 5UPPOrte¢ wrwork In 2024- and all of Ihe tsiented Colleagues 8noss the charity %fio drew0ing so hard to change people's INes. every day. 2024 Coiietborts & VulnÈrabiltyAwards We 11 badert the reach of our work. to Improve access to life<hanging debt adwce rnongst groups who are oJrrenty less likety tts seek adiryc Excellence in Trulnlng Wlnner 2024 co1OnS & Ancj we wlll explore what more we can doto prevent financial difficultyfrom occurrlng in the first place. by refoclng oui InfluencirvJ work on te[ change. VuherabiltyAW4S A5 we map out these t)older ambrbon$ for Chief Exeartv. monoy*AjTrySt the ftrtUTe, l am ivnmen5ety proud of what we achièved as a thaiity in 2024.
Trustees, Annual Report IntroductloTh The Trustees present their repDrt atKJ the aucSitecJ financial statements forthe year ended 31 Decefflber 2024 WÈ prowde freÈ lephOne and wetkbase ¢ebt a¢fvtÈ through National DEbtline and 8u5ine55 Debuine to supptst Individuals and small businesses deal wih their debt We also train debt aoknsers in chaTibes au05S the UK thrLxJgh W15eraokn5er. and campaign to IM0e the UK'S morey and debl The debt athce we provide need5 to be righl for each client anLI the quality of that aclvice is very impoftani to us. so we have continued Ih ouainy iniiiative5 10 ensure sl8nd8r(ss are high. The financial staiements comptywith curront ststutory requirements. tre artic of association, and the siatemeni of Recommended Practice ISORP)- Accourning and Reporknng by Charities15econd e¢50) In accordance byith FRS102 lèffedwe l January 20191. meetiry our obj'ectives. we work in Cdlaboration ¥Mth other debt adwce charitses. both to ensure 1hal we can Lleliver value for moneyancj to ensure Ihe clientiourney Is opDrnJI. These aCtitieS support our chaTttae objeuNes which are Ihe relief of pertY induLlirYJ. bui nct limffeLI to. that an5ing from in(JeL>te¢ne55 anu Ihe aance[ent of putAIc Èdutatson In ali mattets rdabrKJ to Ihe managerneniofperstyial fManS. Mission We also piowde a paid-for consultancy and tr8ining semce forthe commercial sector which improves the experience of their CU5torners prowdes an Intome stream lo supportthe delery of our own service5. The Money A¢wce Twst seeks io help preventfinancial difficully remove problem deblfrom people's INes. The Board has ¢JevdoFe(J 5trotegic plan5 to ensure thatthÈ Trust pr(Mdes public berefii and achieves its aims as Ser oth in rt5 goveming ¢JocumenL The Boar confimis thai it has cOmled with the duty in sethon 17 of the Charitses Act 20ll io ha¥e LIL* regard to publK benefrt In deierminiry ft5 aCeS.
Trustees, Annual Report Strategic Report Achievements and Performantè 271,900 156,100 e 1nteracty£K peo Naiwywl Debu1 Bushiess Oebuine in 2024 NATIONAL DEBTLINE IxJrd¥Jtsi ththricetrKA +50 47,600 6 mllllon minutes BUSINESS DEBTLINE ofert1vè acro Nèbonal DÈbUine arbd Busr DeblinÈ m 2024 | +64 18 mllllon As 8 re5un ofour athKe... Ourtralning irffluerKirN wwk included... 91n10 80% Sin4 14W 30,290 2.540 clients report Ihelr deats reduce or clients sty Ihey a more confident fflanaging thr money report a pos training places prowded io de ¢hnsÈrs in 750 gon10[ trèining places proM¢e¢ to staff in 50 crediior Organtsans Items of media coverage, raising awareness of issues affecting people in debt ernotK>nal c mertal hea
Trustees, Annual Report NATIONAL OE8TLINE deal with roblem debt In 2024. we tontinued to seethe impaet the hEqh eost of lknng has had on people5 fin•n YourseNce hos oossiblyjustsavedmy lile I bws in G ¥ErydistresseclstGte. Jodle. frrurooknser. obsoffutety ufflozing. SFE wYJsn'tJudgernentol. She helpedme feolly I tInkbotmys1[tsut ondcr8ute uplan. Ifee150 ffluch cleorei ond so much more In conirolond loffi so groteftjl" Household budgets continue to strÈtcned. often to Ore8n9 point M(e than In fwe N8tional OebJine clients143%1 have a negati¥e meaning their income does not cover their essentkil costs. even after recennng athce fr u> This is reneued In the types of debt we're helping peqye Trmlh. wth enoryy. cowKiltax and water arrea¥sfealuring In the top 5 deb15 our clients had. ak)ngsidÈ tredrt cards and overdrats. In this context. our service is as vital a5 ever. In 2024. National Debdine helped 118300 people over the One and wa our online ¢Jebl advice tool lup 64% on 2024 We al50 helpÈd 32.200 people wa webchat and rÈcÈNed 2.18 milli¢)n Irisits 10 our National Debiline athice website. he serwce %•rTs kffyowleclgeoble. professK)nal. courteou5 Gnd considèrote. Atytssue k4fJS futyKe501kYd one RernO9 probieffl debt Improviny peopbè¥ INes Feventing lurther dilficulty 91% 78Yo of tliÈnts saw debts reduce or stabilise fo11owng our athce saw a posiwe irnpxl on Uyr ovwall wellbeing from rathce f&el more In control of finance5 follwrvJ our admce 78V. 80Vo r&ported Iheii debl protAern W85 COmety. mostty (x party resolved rep(Kted a tX)SitNÈ impacton ihr emotsonal or mentsi Say they are now less Iikelyto be 52Y• 58Vo NATIOhAL reported a positive Impact relaDon5hip5Wth famity aNJ friends Came to an arraNJement %ilh Ihr creditors as a resurt of our thce. ofwhom 3 In 4were ab 10 keep up wth all of Iheir payments uSÈdttTstrKebet%enJan 2023an0Sep 2024.
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Trustees, Annual Report atlomi In October 2024 we launched My Monty Steps, NaiioTral Debuine's new digitsi advlce plattomi. My Money Steps prowdes an improved onlinÈ experience for people who pfer tt> ÈrvJagÈ wth debt aLlwce online- allowing u5er5to TyogrÈss through the debt adwce process at their own pace, create a budget and access ath4ce In cle8r. easy-tTrunderstand Steps. More than 7.000 pÈop1e accessed adwce frorn My Money Steps In its first 51x months. with 2 in 3 surveyeLI users reporung positive impatt on their wellbeing as a resu of accessing acfvice w8 the t(K)l. Money Steps Is Playi 4n important role as part of our bleftded. mult¢nn servitÈ- th8nks to è key (Jesign principle thai ensures In-depth 5UPPOrt Is always èvèilable by ph(e to help those users who need the support ofan acfviser to COMete their dwcejwrney nce Ihod cofflpleted rnybudge¢ the online ioolgove me plentyol suggestions... but thè follow-up pknÈ cott helped to bvhiltle down the optiorJs.- v+ww.natlonaldebvinewffiy4nQnQY-#ops
Trustees, Annual Report BUSINESS DEBTLINE ine5ses sur¥ive and thri¥e tt has been a drfficult lewYeaSmaII business hitfitst tythe Im$ the pandemic. followed by a period ofhith C+)5tsfglt in boththey txwssand perwal ryn ofbusiness IhobP ekprC0 otross ttnè wljo wos more helpful. more Orticule ond more kn•blettl)un Ihe Business Debuine ¢KknwJ fm tsbsolirtelyo¥ernvhelmedtsncl J opryeclotThp ON001Ce. trerfUl. I ¢ ck)nt5rytI¢ lo fflonyoryfjnis(knOrts these Thonkyouso mtsch." Small buslnesses play a critical rolÈ in Ihe UK econory. But ¢(K> matry3re cutrenty bwng held back byfinanoal difficutties. wth our iesearch revealing that a third ofsemmI people P3%1 in the UK 4re regu14rty loyng sleep viorrying abolrt morw.. In Ihts contexL we're prthjd to olter the onty1YÈdicad. free dÈbtathice SÈMce for small business owriers and sert.employed people. Al Bne$S Debtline in 2024. we helped 37MOO sm811 business ownots over the phone lup 32% fr(Mn 20231 and 1S4(Ki frywebchaL wrth more than 667.OOOwebsitevi5its. "Isturtedmèplyofte coll feeling rhe weight0ft1 br)rtd on myshOulde I novlleel thor I con nowgute myluwre. ffly ifflfftedKyie future. medium ondlong tenn luture oncllleel greotyrelieved." DealiNJ v45th buslness and pevsonal dd>t ImpThmg finJnti•l tonf#lÈ 90Y. 5P/• of clients sawthdi debts reduce stabili5e followng our said they W beccThe better at iKKlgetirvJ a5 ¥ resurt ofour of bu51ness obM)ers who sought advice aboui business viability 541d our 8dwcÈ help&d them continue to tyade 78Yo saw a posifve impart on their overall wellbeiThJ from tyjr aoknce feel more In ofthr finance5 680 fÈ&l mole confldeni about the future of kneir business . DcUiieckentswo ltsedtheSeNKebetTrjan 2023 Sep 2024. Back totwressf¥ure5framSlof32SMSknUsettEstlVtÈ m 2024 04. Call.. OW01976026
EnyplD 5Efy4B5WEI5411FD1IIraFB rus.t.ees' Annual R.eport -Belore 8LJ51ne55 Deblline Lauru's. fore Bu5Jnp55 Debtling gtsr Involvpcl helple55. 8ut they me inlormution neede empowefed to know whor within control io wus <upport suv-l g(ytio,Is 10 CO. È'L.LTh'E .')e,' .VIGilg. <u(7cjts GC.: Re(.Ji-'SC- get lh und the guiclonce to thfjt pvtsntuully you other side odvitÈ through . Iinrl your i)f'er.rg 41 SQ ccic-er- iepoi*e-, exFecigd payrneiis lever coTpan'J -o(
Trustees, Annual Report Bulldi U Business ramme 2024 sow us develop our Building Up BlnesS progr. s part of our partnership with Aviva. Building Up • Business Excitingty. it represents 8 step towards a more preventabve appro3ch. a key priorffy for u5 as a chaNty going forward. Th& Pfogramme also came dirÈdty from feedback frorn our Business Debtline a¢wsers and clients. told us aboutthe challenges thÈy cèn fate navigating often complex bu5ine5s finance5 WÈ saw how 8 lèck of acce55 to 5UPPOrt to help small business owner5 bu1 Iheir blnesS finance skills and knoedge was holding businesses back and crÈatirvJ a higher nsk of fin8ncial difficuty- Through Buitdiry Up B¥51r1855 programme kyogamme. we commis>oned new Search. workirKJ %Mth Ihe UnNetsty of Bnstol. to help inform approaches to tKBirE55 finance skills supacrOSS governmenL treditors antl the er small business sector. owÈvÈr. Ihis isn't jusiai)out %that othe can do. A5 Part of the programtne. we hève devdoped a free. onlire leaming platrorm fof small tsJynesses- specilcalty targelled at those %fio feel uTh3er-seNed by extstsng SUPPOrt 2 in S Bne$S Debt4ne clients do riotleel cOnent na¥igatw their trojsness finances The Building Up BLtsiness kyogramrre offer5 bite512È Mdeos on key ÈiÈTnents of business finances. InclLJing thxes. SNse5. cash-fltsw ènd understanding finance agreements. Among small business ovmw5 o were not confKlent managing their finanees. 18% Imd delayed growth or investment opportunities arLd one in fve 12TI had ino debt We %ill be piloiiry the leamiry ihrougho 2025. evaluating its impattand leaming from feedbackfr(Jrn small busines5 owners. Visit tx111*Yb5Ines0rg to find out tnore. and In iouch rfyou'(J like to chat aLKKrt howto s1gnrxsmall txjsinesses you work %4nh to Ihe aMI.
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Trustees, Annual Report Workin with ereditotsto su Vlb1nerab cu c(xLECTIS VuLNERAlITy AWARD5201 In sdditTr to our wovk ddfftringfronline ser¥ryce4 we playa keyrole in hElping uedbtry or9anisations to ifflPTOVgthgir sypwiforcu5tt)mers in ¥ulneratye orcumStar. WINNER In 2024. Ihis Included a significani focus on helpiw FCA-gU1atÈd fims to embed the Consumer Duty. as well 85 worknng with firm5 across differern seaor5 ro embe(I vulner¥l)ilty regulatory requirements anO be51 pracDce. MOIIF.Y In 2024. we provided 30,290 training places Vuk)wablMyknJwry to staff in 50 ereditor organisation5 Vulnwabilty Matters podcast In total. since we began this work In 2011. we've prowdÈd rn0 than 70.000 training pleces to staff In 490 firrns. io help thern improve 5UPPOrt an(J OLrtcome5 forth*r customets. In 2024 we ran 12th cohort of our llagship training. Ihe vUlnera1Y Acauettry In partnership wlh UK Fina. (her 200 peop have nthv coMeted Ihe Academy, which has been awarLled Oty& (11(15 Assured siaius. Weve further strengthened tyjr alumni net1 oftering graduates ong(Nng profe55ion81 devdopmentthrough exdusNe inyghts. ewents. an¢J a commuThty of vulnerabiityexperts. In 2024. we continueu to delve into a vanety of vulnerability-related issues through our Vulnerability Mallers POLlcast. providing an invaluable free resource to professionals across Ihe settor. The ptspularity of Ine podcasi soared. recewing 14.398 lisiens anLI covenng Topi ranging from at¢Èssible numbÈts. using 10 cre8ie easy read Llocuments. 5UPPOrting terminally Ill customets and imkyoving semces for dlDeaf CU5twet5. In 2024, our work was recogntsed. slilh Ihe Money Advice Trusi winning the Excellence in Training 8v4ard ai the Credit Strategy Collections and Vulnerabilty Awards 2024.
TtroJ]st@ s, AntfttL4Q]ll [2 port COiLÈ¢TK)NS. VVLNERAWLITY AWAkDSyDi4 Building on the success of our fla9ship Vulnerabilty Academy. in 2024 we Iso d•vÈloped and delivered a dedicated Regulators Vulnerabilty Acadeffly, in partnershipwith the UK Regulators Nelwtyk NJKRN 5uFpwiknithytwe WINNER 16 PdrtlClP4nts from eight rÈgulatots t(x)k part covering the FCA. Ofcom. ofgem. OtwaL The Pensions Regulator Regulaior of Social Housing. W and Ulilty Regulator Nl. Followng compleiion ofthe Academy. 99% of parbopants rated trEir thledge as Very good or excdlent. We were delighted Ihèt the $te$S ofthe ogramme was togniSed extemally. %sinniw 8est Vulnerable Cusiow Supry>rt Initiètve at 2024 Credit Strate CollecDon5 an Vulnerablty Awarts. The AcadeTny addressed a wde range of prattital and common ch8llÈnges that staffworking in r1t0ry bodies face on con5Utner vulnerabilty. wth an empha5ts on Strategy Llevelopfflen( measurobÈ p&icv obiethves. and pradcal approach based on Consumer. fitm, and research thridence. Taking place acros5 12 workshop sessions. the Academy examines thÈ'role and reach. of the regulator on cOnsumerver0bl1lty. before tackling the rarye of corsumer needs that exisi. how firms can understand and adaptto those needs and de%gn indusNe approaches. soMcÈs and Commthit8ti.
Trustees, Annual Report WISER ADVISER Trairtim th ice sector Wiserathis•r prowd05 freetraining and resourcestothe fretrttrdiert athite 8ector In England andwa. We soC0rrtineIOwtyk in parknership wr AthceNI in Ireland. pm]1bGdnts Wlh blr$stOn6q to th&TSthIK)n toodse there ondlhen. G¥50hudo b%v5 0 wctm offjnon(yolonol In 2024, we prtrMde(t 14540 training cgsto 1510 atri5ws In 750 free-itrdwt agencies acr05S the UK We prowde free face-ttrface and onlirÈ training for adwseTS. all debt a(knce aTÈ8S. Courses content are ¢eveloped ty our team of learning and subject matter experts using Insighl frw 8¢hnsers aboul their Iraining needs By prowdirKJ advlsers With the knowledge they need. and helping theffl to apptylhi5 tothLyr Wofk. we help ensure a5 m8ny people as possie can access highquality. expert a4ce and help improve overall Othtomes forpeopÈ In debt nxxtre 0fexwnCed0dfteWc0Ne0gUes. l¢%rso gkXl1d ts c(YlM5e ordeTto e0So10rCfveNty undffFjeIf The Up5killing money ad IMproN9 tliprtoulto Spreading knelIge and expertise 950/0 rated our training good or eycellent pi 98% • lll 96Yo felt better at peOe their ¢Jebt kyoblems wÈrÈ enabled to share krthledge wrth c(Aleagues 99Y. Said our training irnpYoveLI Ihwr kn1edge $8ILI Ihar OLrtccThes for 98Y• pplied the training In ther role
Trustees, Annual Report fluencin in finanoal drfficu As well as prodIng help (lirectyto people in debi7k10 ¥ecure POSitNe change at a policy level. This yearwe made progress a number of our influertlw as well as securing a major campa9n for our Heipto ReptycampaKJn. Help to Repay Stop The Knock | Broken Budgets Securfng help for people In energy debt Shapin9 undetstsnding of probth debt High energy piice5 have h8d 8 significant Impad on low-income households and energy olebl 15 al a record h1gh. We led campaign for 3 Help tts Repay scheme. 5UPPOrted by 13 other organisabons. io offer households help to rettuce treir energy (tebt through repaymeni Inaiching and debt relief. In 2024. we publi5heLI Ihe laiesi round of our Stop iho Knock rèseaith. Inlo Ir)tal 8h0nDe5. coiÈaion kYaaice5 anLI bailiff use. Using Ihts data. we Set out tsilored recomrnendaiions for each local authortyon how to improve their collethon FKactices. as well as maknng reCmeTh8[10nS to centyal govwnmenL WI the Geneial ElÈdion iaknng place in July. we engaged candidaies and nww-elecied MP5 to share the key actsons nÈÈdÈd to help prevent financial difficulty and remove problem debt from ppoplÈ's lives We also Inched our nev4 MP Constituency Hub, prow(Iing resources for MPS. offices I help them sUPPOrt con5ts1uents In financial drfficulty. We were pleased that. as a resvll of our campoigning, Ofgem anriounced plan5 10 Introduce such 8 schem& In 2025. This Could provide wtal SUPFX)rtto people trappe In energy debt We ère now working Smlh Ofgem. energy suppliers and Othe to make the scheme a reobrty. We conDnue(I to wotk %Mlh Ihe Enforceynent Conduct 8oard (EQ. Iluding sharing irisight from our fronuine semces and feedi Into the development ofnew standards for enforcement agents an¢J firrTIS. a5 well as a nÈwcomplaints pr[5. We Contin to make ihe case to the Mintry of Ju5uce for siatutw unuwpnning of the ECB. WI more people Struggling with the c05t of essentials. we published our Broken Budgets reporL sharing tEw anatysis of Ihe issue5 facing the people we help. During ihe year we a150 responsed 10 24 PDlicy con5uttation5 from Ofgem. ofwaL the FCA and government departments.
Trustees, Annual Report Future Plans though the cOstl-llNj cttsis beg todisappeor froffl in 2024 the challenges for many houser)IdS endurÈYMth sustsined hlgh Inter rates and a permanent in¢rease in costs 4ddin9 to financial pre55ures. Inlemaiional trade Lncertainty may also irnpact on the afforclability of eVerydaYdS for people. A11 ofthis means thÈwotkwÈ c8rry QLrt on Ihe frow line of debl a¢M=e ¥MII be jLSt a5 Important in 2025 and we Ml need grv and ad8Pt our serwces to meet nÈÈd. Led by our newchief Executwe we are developing future-focused plarts for adwce tran5fomiation. broadeniry ow reach. doing fflofe on prevention. %vhilst also delwering again ourongtsng commthents as sei out In our contracts Ith MèPS, commitmentsio Otherfunllers. Our ktyserMtÈ ttys fr2025a[e as fdl Atthe same tsme. we Mll seek to contsnuou5ty iry>rove Ihe dientjourney by exploiling technology. Improwry ours5Stems. and making better use of data 8nd Insight to e¢isure Ihai people who need our Servic are aware oflw we can help. Prwde quatydebt atknce to 139.804 dients èt National DeMine ty ddwenng 5UPkWYI IhroLwJhlhe ieleph(wE hatand Money &eps digital 5upr(rt Icol. rwotk to influÈnte wlicyand practice wlll coniinue 10 be importani. and we wll look to secure change on key issues, including ergydebL bailrff regulation. and Insolvency refNm. while abo developing plans for future influenting campaigns focused on better preventing financial diffrullyfrom occurri 0e high qualtydeta(hfite to 37.423 chwts BLtyness Detyuine byddNeritKJ yJpport fvough ihe tdeptroie helF4ine arKI tKhal Irainiry tolhe debt ce seLlor- wa 12.OOQtrainiry placesto None of Ihi5 work B p0551LAe without our people, antl In 2024we recrurted anL1 tianed new 8dviser5. and Ihose SUPPOrt thern, io maintsin and grow 5wvices. We will ensure th3t all our people are fully supported %*ith a focu5 on wellbeing. improving way5 olworking. and Continui 10 1 equity. der$ty. and Inclus0.
Trustees, Annual Report DuNng 2024 ourtwl Income IrKreasedto£217rn P023.fX.kn)4p operétionèi expenoituie Df£XSi>P023- E18>ni. iekknng sur$ of£a2nL De5wnated eNpw¢wretoi8lW £lm r2923.£Q3 We tothèk1kpIUrn8tstwuOIftgIffl 2024.. HMRC Income from acmE%. n4metyTr¥1n9$ CorLy[[$fj 4rrfJ wl5erathl$erW. Inueased from £093m In 2023tonTr In 2024 continued to kertralnl offÈi meetthEthawryTdS 019anisè0ns and inciÈèSèdftXuS on Aneiabie Cuthmei widants. . thtywatÈr H58C UK JP Moroanchase MeY Pen510ll5 SeNe We SeenaCtinueOtr In reduced ItOrn(roM COtc[rEIÈrr debt cptrons, Such ès Inaryu•l UrtaryaMgefitsYVAtyaebt . OVO EnÈt a F4¢ Lld UK F4c (Wriwal costs Increp5ed byffi3023-36%L IrKye85ed workT<wce iequiredto serryn+lCivh fjnworryeof311 2024 ¢¢Ahrea 282 2023 ¢•tsxCreditMMtyèmèrtLid . Bk{Eope} SSE Energy Supth Ltd TÈsto Bank TheYe¥rdfulS of£t16rn12023- £14.4mi f•lifftOthree One5. ger$ unrestricted £12.6rn P023.£12tsmk £CnP023. £(knlaNI dès•4È[&fUnd$thY7QO23. E1wThèuIrIfirt t¢ykn) io our reser¥eswlW.%¥hiCh i%descrioed ter. Te5co klot4
Trustees, Annual Report TTLSt $acomporyIim tyguerwke. ty strategy. n5kpFÈ.Sn0rIn9rrCl ifflt(vmatw4 ewenty111¥thefUnlftg ermrofflwt In Cdtyetthanbescw reThain5chaleThJiTrg.we ha utw v)1£$rl)s Ouifundetswnthty uS¢onfthnceinfDfeca5ts mEYcl41 Contracts¥vrththeK4wanoptiisM))SÈlkps1Tht US four¥JaOntofQIec85teed incrTtothe 0(20?5. Trgtr•Wty Bo¥dTsteSBQerrf.¥ eothe Dlrectys ofir¢ tharfyfortrer1fpSQfthQC¢xTary.TwUS[ee5 3iEappDlnted bythe based ititeThwry.NewTruStees undeiw affl the lknyA¢viceTru5fs Tngth#efactor5iThlOXCf¥Jrtthe goardwSStOWSJothan•Jecwe le¥¥ ofre8thty reakn5eUe unre5VIL1e4 resew $ Wto s¥wfdlheccthL&WJ enirfesè9et1e5er¥eth &£5 The orePT$ dernlned lnxcordan¢e%bththeie5¥vèS10gth $¢$0(aSed apwoach Induding a at14(j70 rit4TriE 50urce5. ComFX fraud assessof chanpe. Wth unrewoeJ Serves0¢£I2 6m being bltylo I15k8nd effecte. reiv3nltodrn5. uucialyreach need¢ supwrL Alknanciai nli1edopetOSrIknWQi strtytoIMÈr Ihesem5thiffl ockar Thestffentgwfflérte setstrVe$ar aiewd#ethonfoYthe kloyAthKe (See5 aer6respkn aTeInted bYnrtnQ p•rtomarKe W2024 2024 H2 surtat41ty. The assessmèus mStoxhasPreéd0f1resbefjtstoffjin1Mtse b)e ewetoJty counterpaw. the Chairoltr 2024 HI We have rwved wsecwed 1rjf0r 2025wdf4thJEws•)J thè lèvél ori55(Ulrrnhe.w thrw 2025 oper8bonalexi5tence InthefLnUre.knpcanfiThtllth aCcrn5 h
Trustees, Annual Report the pTtrèX1I cM£e$eath rfrvrftifflesaThJo¥tyTrYeo rem Fr0rnJuty2024bllthe dtheswr.the comrrMltee5 backt0meSJa. Daits oltrereStruCiurÉd C¢ffiMalÈé5(oX. ieAlexandi8 MhrandMa(IS0rn. F4ianceOncludlry. not Rethwng Oen5wKJbudpts Monknffjfinanc PerfMenSIoUO srae5CcesS9JÈin 3¢elMe£XeoJt1%EteaM ¢rtMents perture(wftytheftyKUlryye Incomè9ènÉT Internalcontycl and Ma InteinalgLKft Exte1 audrt iklrytre>wtwTT0eSdE)ted1wrt trJtsbthèrhmJI four Bwo IalaSSu6ce Gtyomancewd reKvD and Rebeccawdwelthity kl¥th2025) PeOe 20
Trustees, Annual Report tystBnthrd ThTa¢h*o re4ccredrnelWtowe klaLfrK in 2024 a brAh Funai chètyeSin the Continuedcon5truawe engagemeni E&11+ eAtemai lurthg %h ex¢ting funaers and exrlorgt
id5cape mwyimPaLt Of&dana1 funding opportuTrrtie5tD owthltyto SUPPDrt low-teml Oaivery. troOwnèrteolthEorganlxjn atby Jra¢hyseTS. Thestsndar4 hèsafocusonc¢thn threeYe.lndWevfflII be Sue¢ttOWull r1$10 de¥eknped ourgovemanc@at Oebllne affld Bugness0ebtle$er41Ces Ri¥k mynvyment Strwtried4eFery¢e¥¢1tyanO c105e relabonshipswth ryprnttssuwort effèttNe ImFlemwthtiOn. ThE0r EthoN¥ledwSrtsrwyltyln reWwt0rskmww need loèssethe E40rstraIty. The monitOlSli>kthrowh fvèMknrrt".¥fftliCn Èsiara&es rolesand reyntIrt1 $embe rer.fwSx)7d matbryemertthrou9h(Krtlhe The l(SatypeSrfrGk1 ieqLMies careful TÈStsJite puènning oannethlp reièNedquatsrfy h attdition.WEproducean apiEhsetsrta ograrrmeofaudrtstobeconducted J>ng ltMal iÈ%)uTcÈ5ErtNY Intem4 aud110. Th audoolenfocL¢esw kerfwvftérte è¢asinuoeTto¥& Cixrted Investment ID peop ce553rythllSan $e$. a focus on sta taPatyaCiDSSthe engaoemenL InJu$Ne plgnning.an Orw$èts)nto deei fftrnal communicbtyo stregiC pfoftrs RkcOMMAE@ethg Board affld re911 Inrwn thispertsjv pnmantyr¢thsed edherencetoregulatsry requiiemeftts. Progiessea Our strategicframewoik I¢cused on imoTwn9. trpnsfDrmin9, br06dening. and provenbng toguide aeiryeryana Inform Jeci5ion-making ol svegyiS $Tr lÉttwl(W (w)iethr Appofft*dJ senior leadertD tweT5ee technologyandtsan51orrnation yffvtytanitoenharce a pha5Ed Inve5tmEni pl&nto5UpfLjbxed
Trustees, Annual Report The MoneYAtt@ Tw5twShÈStoei15welhati4dO In orynlSatoithinwoTresarry olmo¢ern4tyvery we cunrnrttedto en5unrbg ourwDthng pracUce5andth05e olwr paws the Impèdourbusinessèctrvrtiestohdp n$ill the We The TrLS18owd ha5 Dra1 accklrtYIorth• remuneiabtrn of thfor The Twsib purkw)se.vdue& èthwementS-è5 Yll ès and et condrtIl51nflwe hu4vn5 renera nch 5thry. The Pthrd(Wtorts PècweCommrtÉesrthc relavon ntXTm[ IwnUnETation.sCeS$)n ar iecwiiment. TheCofflmittee¥ Enbiranmthitsl PolKy TtySteeSè lesptyefOr$ettM9 forthe Trusts Chief Peop Cwmnto@fDrwoMngthem foF othei enbn&0fthe s¢Yrt%team. Exh yr4llslaff Wbapate In an app(aI5al DltheirpÈrfOtmanc. In the ¢aseofO crt Ey¢Cutyve, is unoertaken tythechairofthe808rd.we th) p0&p@rfUfrnaCPIa1d ptyol b$5 arf WOCE55e5WE have Ih rHateto reduce DUI kn2024 Posivve piènet 0u¢ed Ovl cerbw r(ototini ierot caf(rin1t¢>llll em15510lls ar8èasedOn èn as5855mWrtofDiett Erni%W15{c(Mnprf buildinos. ven$.070 [Kilitie4. Inthrect &tchased Ltt4tssIot bv51ness usel and Upstre8rnJlclMbe5 leg. comfflutrylwdooww Ém155loffls leg theUOfenylQS.(knF POIItywa5 updated tts rèflÉctchanoesto ca1rt baSdir re5uMing fvtsrn Improvements n Cvrdèts tsptuiè crst0¢¥ rneasuiemeni Metho¢}1eS Our baseline c¥t¢neffASshStr?O24we 637.5tCo2e or 2.&Co2e peFefflutye. Vlewbk5hthe wmberof5Taff Wduwer£60.000 withNI annual rewxtandacLwi15 WeatsoWttsD theCtrExe¢Ute$ ssaryand loiw amtyjni TheTrLJSt toensulg iernLffrèMn prinCIe5)re open Jnd tWSPaiÈrfala InècCOtJèeh Ihe 5tenic[RecOMrneOeO Prjttice (50RPJ aimtocfftr a rernurhwan pockwp that4ttr&cts and relbin5 4rr4rwwqualified tolead. manage. supwrtand drverthe TTuSfs we a LMwWaF ErnpknvÈr requirè wrrtDntractOrsto be RelJ¢edpJrttes¥nd r4••orohips with ¢JtheroryW4 TheiewerÈ rto reiaied reworship mattersfor artyconflicts ofKrtere5L Tth5 Irdlths ourkre[81PsTth Cibien5 Advitèan¢J Rethink uMerthe Maps cL¥ltraC& ¥vJ&eptharw. fundmnI poky We do not engage infuffldre¢in9 TTOM membwsclthe use 8xrnal professional fUndraer5 The Trvg ob5ew CornlesWIth ihe reltnQ igaon5 CD1 ts a Funora151ng Regulatot értd Supptsts pr0[10h stsrthid5 fulrdWW. Dulingtne yeèrthere%vas no norfofflWian¢ewth mese regu(¢ &C¢e5 and iheTruSt recepod no comty4inls rwbng w it5fvndrwgng p[1 The he5 alsoa9reed a 5etofFundrng Pnn(1es ye4r5and grn whatwewll afKJwll noT tk)inrèl&(In ltsdC¥ionsniothe TTuSi8ndthtundÈrS can ano wr40. These we fyi ¢wrty¥te. 12
Trustees, Annual Report Equalty. dNsity. and IrUl Equglty. Dlversity, and lffldusion FDrydte Inwrtanttotre TrusLWeèim tob an inclu5weand sUppothegjn¢Jtyon.theIeaII tyJiCJleaguest safe. welcome. and ablé toachi@¥e th&4rfull poterrial.WewJnttoer6yrewe ielleci the people¥¥ho use Cvr Nabtsw DebuinÈano DebVinE5ervlry being c105eiio ih>r lrfeand Cufuiaiexpewiences PA)oensuiÈtrère no barri#rS tothem assIngrserte$. Simikity.v wèrtto gJF¥porttrwdtr•fv¢e Sottorthiough W15erathser.andlhe ciedrtorcomrnunitythrw rTratyd In 2024". hap{$atyk.hStaff leitrwve mafflopiry their YMtsJèQ.J ftywdlthtyfdièpoieoaied, recowised.8n0 115tenedto The affifhngthe la stthsuwwto Te4th a targ•of71%fpelity ecth WKll5tdt0, reac 72%in the 5uNey. fegar01essirtsacktycuth1 We oublishedcvrgender wygap Awl 2024fiti shAd èGETKr PayG8pof&7% trknn9fowrdwe ha Inaudes hèviw a gender tharnpvjn oul EAe Leadership Team Implementing wografflmesth encwrwje IntOSWior rtyes and ext¥nalty Anhough not a SIaknrt rlan t0putth<M thnlcty P4y Gaof9ure Intwfflaltyduhng Summei $year )JrECrf I¢LW h95 Inpuitéd In dwwons( traini uwsi0es.Y reCtyrtm$YsttTh.wd warETrE55rai5ing throughwitsyear (knrcommtrernsty EDI1 lÉa1ino WÉxarnple. pro9 an inclusNeCe cuure. al co1Wves to keep kamino arx)utE.dQrY•w7knpin aMFIln0 MèlvoS. a ge ofhSt•ty sesgonsw¢h colea9uesou05s the and feedbackfromthe5e ha5 led lo sra1 Initiaw Including è Ploion lenlWO and hfvv nieasureqLo1ty. % sesyonswth Jii rhe%¥ 5trrteT5tQ feedbgrk on thwi L(bon we uyngthsfeedbackio make ImFm¢efflentsto dwYse55W5tohWW woge55 lSt * er499n905[therthaTh Ju5tintetn mattts. We enwronmefitwhere Wè recoyntsethe irnptKtaTrceof hawng a 59trb8t E¥ery¢ caffl brinothèrtrue serftowork and hag SU¥thry a poiicle515 kpYt0Jb this. We make{ea4$tkns asprt% empWThent from recrunmerrt.treiThng.absencerwnagemtry. We on a basi%Orth&in cenire.11%olow efiW)yees ieportas(bsk Fiom aeeralperSpe¢ts¥e.wrth£ a sfowTntst supportlhosetyngto atcessthwe knlitated EiyMSbthrt%mYkPIknllS dufifflg 2024, ofwhich Suosequenity Jcaied ow Deotthtt SLPPYitewTh 23
Trustees, Annual Report
The M(mfvAtr
Trustees, Annual Report 501ata5th8TntstEe5ateawaie. TheTIe5 a ¢ Jiiecttys ol kItyWlceTTLts1¢ trOLwesor CTrpanY law ale responsib for prepanry theTItee5. arThJal th•straièOlC reportaDtsthefinanchil stalenrn accWKe United K9doffl kcwntiro Kir¥d¢m Accounbng Pricel TheTnsQe5hakQnl 5tha1VQU0tOhavetsk1Q mèke ofanyle0U&1lnIQrrnlOTh4nto th4tthe finanoalyeaiwhthgfftètrue and f•rwttvofthe State oftrChatsblè ccfflpany ofthe Irwning iethrces am èpp1tthfto1Ces.lfthJl theincome expeffldture, ofthechaft0cOMpaty101trat pewd In kYepaTin9the5e financi415wemwts, theTruSteesJreiewired t Thefrustee5we [eSFbtOrtheffiartnana 0fmeC0te ala1 ithMa InthaÈd on thÈtharrtae companyswetsrte. Lepi4avon pQwratar diS5erNnJtwoflnanclal secl5bIecC0utkn9OlIe5theTrtytrnC{. lo aSsetsofthpchamythE up ThetDtal number ol 5tt waiantee50n DeceMbÈT 2024was nhiel2023'. tenl. The Trustees are mÈmbÈrS tsftrethaTty.tyth1s enbYesthemIcvotkng nghls TheTrus no benefos thLYest fftthe ch¥rty. pnnCl4@th@thals W. Mak• Judgem8nts 05Dm&E51hataTerea5¢JnaLqe Stètewn¢thèra0ICa) UK A[nbry STandaid5 5ttsmem5 commended heve bew foloed. SuWIiO ¥VMWial departure5dc5ed 4rKlexpLglnedin r¥. Petéf5Etr& MoetraTÈa their auJrt regisirabon and thtrelty•trotoartoftril SIne to•nwty Incorwraled Iirnrted cparny. PEKI1 Lrnrted I Segtembw2025.Acco[dity. Peters EOrthY ar Moore Teygned95thethnp5 authTwthhtre DiredotsdLty aPFontinpPEM Limredtofill Inappropfia to prèsume conbnuÈin orwthi. The TruSteesarÈ IèSPtsnSibl8 tor keeFMng adewate a(c[D9 lecord501 Tre audiorPEkl be proptsseafDraprAnDenlin xcordarKe h 5eLiw485ofthe QnA(t2( chan10ec¢mMty and enébiemem enwre trlart statèr comptywtth the Ccffjpanes Act2006. They afe•so the asset50fthe charrtable comwnyand hefflce the defefrjdarorheI Irrewl¥ts The TrLtsiee5'wrwl repDfLthKh terKrt hès been on ihi behaKby 25
Trustees, Annual Report AlIt0pon Bèse4 ¢ThtheMthve pwftymety. etnt Idènbfied atymatsrial unc&tsirrtSfdahw IdUalCJ[ collèctivè. may ca# swthrtthxOtte ch¥te ¢wnp8ry.saItylo conbnupa5 a aDing rn0 from when ihe firbanci815tatemonts We have audite¢Jthè finèhtsai StsteAtsof0rtkneTlLsI Phe'thari company)furtheyqarendedJ DecwTet 2024 Athth¢tyY¢¥seir o[Rthancial AC[t, the B8lance SheeLthe &atementofCa5hFkn¥5 related not. Induoing a wmmary0fgrfanittnttng ThÈfirLW ièwknng fvèmewoth that has been appl In thwr preparatw ÈAld United Kin4dom Accounbng Standaios. ILn9 Finaroai RerKrfbng Stantsd 102 The Fin4ncial ReporbrWJsnO9r4 UK and Rewtofl[datKr iunited Kingd(Jm GeneraltyAcceptEd Pr&kè $PDrtsk0SdU ¥Mth rÈsritogoing concem al@de5C[th ieievJseciw5 ofth& report. Tl ffrforrrytiw t(WiseSthe fOr1¥y IrdJded inthetsmual Report Oiherihan lfin)nl Meirents and aUrArt¢5. ReporttrEieoi Trustees IesrKfQrthP{herIf00tsOn conlaifdwihintne Annual Rewi. Our hrt¥tialwteMentsd Mtcoverth@other InfoTmation 8Trd. exeEotothe et otherwKGeexplKrttySla0 )Our reporL Yedo noiexpre5S ftKTnofthiarte c£du5wtrweoffl Ourrpwgbilityi5 to (egdthe olher I[rfma èno. In so. CWgJer Qlhei Informabon 15 Thatetially IrKtyssttrliwth thefinwKI4 5talements orourkTruwrtpdgEobtsined IDlhe CDuIS• the otheThhi5e apppan%io be mLSSted. l[we 1OWlrfysucn rnatenal ll1¢>tenC orappwenimeTl41 mi5Statements. we ale required tOdÈtwmInethèthe thLS nsetoa matenal m1551ÈtÈtrnt Inthe finalcial stetsthss N. b45ed perfomed.we conciuoe Istthere $J MatmEt ofth150theT Infonraty¢.we areiequired io iepfy1lhWfxtthnr1ytts rÈWt IDthi$rerd. gwe altue aDdfaii viewofthe #ale tsftr CniWkCcpèrrfSOttrsa$j Decembw 20248nd Of IncoMwwferc9nd3KI1O Qfresrc rt5 It0mÈ aeXof0rteywtrw thioetr. AcceptedAttOuthing xbce. 2006. We coue 1nxc0rd8ewh lu05A${UM gpplicabL Te5Wn51ts1the5 Utthtth05etsthtdS refutthEf de5ciibett Inthe Audrtots. rewnsibithslortre audrt oftr st&tsments 5Ection ofoufiep(rtWe&e IityendttofthethanwectyTyrty cctsrdEAKEWth thè wITements revanttO tyJi authtoflhe hnèociél Stètsments In United KingOtsM.Incl1rthe Rernllg Council's Ethlcel Stan4ird.8nd fulfilaUrOethlCl rese5 ccordaTrcewth these iequirernents We bdEvEtnèttre obtained IS Suffioentand groyth a b85ed Onl untsrtaken knl the Coutse ofiheaudrt.. Inthe Tr1I5teÈ.RepDrtI0lthèfin¢l•year1ty tr TTuStees'ReFOlha5been prepgre¢ In K¢Ord4tewth aWicablèll lffl Judltlngthe sL@M5.we hacn1hu TrLSt*S'u5e ofthe conc bè$1sdac¢(xJnbrKJ Intr piewebtsl O[ther ststE[r k% apwtynète. 26
Trustees, Annual Report
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Trustees, Annual Report we obtsinedan undndIng CfjmCe dUd19 1nSL3nc ofn0n.comrla. TraleinheItrlllfftot ourJy¢rt kYocure54eKithd Tt mrAe I£tlMd reguWKffj arefrfin8cl tron105, the le atsolmrtthe aL¥JQ Or¢ceou¢S Qwireo 1¢ n¢n<0mplnCe la¥ Lyw6to Wlryofth@(fjrQctol5 0thrmanèjemerntankne inwb ofre9JWOry W (ce5Ence. rfary. 5u5ceptiOiltyiO fraud.theirknowofxwal.susWaeda8 alegpdfwj". 5 rewliliots Ilenlthed Ye crynmw1cat ten regularty3ndthe te4m m)Ined 4knto Irsiwicesrfncthccry thrOtsEthe aud As a rE%uttofthe abm rIa5ses5wprocethJresv theweJie5tffjk ofmatedal rnis5wernew thenei815emen8riwg ¥ree5j fraud 10 bewhirn the wtentsal for m4n89effEntOknt1ne cu1rd5t(Wrffih thensk offrButhlent revenue I8cognilian We 5thde renUeleCnlV0n be most yevalwt Iniheart-off ¢)Jrapproath ffm5ale1è1ee1tQfr4Ud be hfjiderto detettthgnthpse err0tasth@yfr dderaLÈWIentOrctsl1Us10n. Afutheide5cnpbDn ofouT [eSwrAes ltythe audrt ofwe fiwciel #atements WrwJCthmui'svbsrte ot. W•4W.fiLorg ukj Thts dÈstnptKx)foms partoffrAliQrs. Rewt accty0érKeknChetyer3 of Pgrt16 of th@Companie5Ac12(M)B Qui audrtwort( 5 beenundertgkensothatwe Th19ht5taiÈ tOthÈCharitsyÈcompèws membe rna1te15are TewiTed tDSlatÈ to them in an Rewrténdfof r wrwsÈ. Ttsu pwmffteJ by, do not?cOi or assume arwiet)trrmènthe coryartyandtts members.95 lortrs ortytheopknlons we formed relgtkmh1." indudingtesbng 011Mal e53nd1)tr[a0usblWtso[ arvwithess. evaiuatino the Olgwnlcénttransath tyJts¥JetrkThyn course of bLEine5S'. ccountsng e5brnate5 5Et note irwerèindThtrolpotsnti perfoTmed sub5tantivetesbngfoi8 transLfroM cknent rordStO 5uppoffjng and TecrytsIDetNxethaiaxom• wès appropiiéteiy rec(wtsed In mèoytect penod ar restrthL pyopriatety recogntsed. In re5POn5etothE ofiNeIabe5 ulabM&wedÈswJneo p[(Kedu5Wnth for on bthOf Re•SteredoN5 SStiuty House abovethiough makinyetKwiriE50f 5p@cjb Correspoent." 28
Statement of financial activities [CoaThn9 an Incomp * ex0trecrf Fortheytarended 31 Dcqrtr2024 2033 Tota DDnatKm5 3..998 20QYS 1.2873BI 7.494.326 acDvth 11595.M3 1.078.543 2J07.9t3 1&X11056 7PJ6 732M 9135.698 930.547 2.530325 226.291 12.366.023 1.156.838 . Infiuenor4 & Erqe9e¢ffl In%wrnent5 246.925 246.925 K786.X5 V.220.115 4.041997 21.2fj4.112 ExpendlwfO RBising funds Chjrltable xgiWe5 Debt Adbice 2W.584 f7321J39 1.628.6 410.475 2.782.913 X+,)4252 l667.094 I2.625.0) 1.218.ST3 276.5 4.1602 22S291 16.n2.192 1.44S.264 276.572 . Influencin9 and Ewomem 622597 294.590 a5V. 14J82.X9 4J34.893 18.717.612 P90.) 2.$46,$00 yt•r4nd nyeNllufi Total funds troughtfowd ll.5*773 11.È47.669 t3.S58287 14?94.169 394.169 29
Balance sheet M. 4741583 2023 TtrvJityea95ets 469,930 469.93¢ Debtors Cgsh at bBrI(? inh¥nd 2M37,980 &862.333 6.OfX).000 Creditors.. •moLYrts faliw dwwAthln¢xeyear 33F6.074 N•t curr•nt 13.924.239 14J94.169 M394.K9 Restricted income Unrestrtcted Inco ld$.. Deggna*d (unds GEneral fun¢15 1.608.997 Q.nS.1n Total UniethctedfijS M.394.169 TotsltharityfurA¥ 14.394.169 Chilsbne Famsh CBE.Ch•i of Trwiees 30 O•tW. 25 SBptsmkn2025
Statement of cash flows 2023 2W.500 DewecLgtion char Dends, Interestend rentfrom Losson diSKN)sal of fixedassets Ilncieasel in dÈbtOn% ID•cTea581 In CTeditor5 253,174 (246.925> 837.901 147147021 2.4(NJ.$17 2023 2Aty)517 Purchose of 5hortterrn In¥esbme 246.925 2£• Puichèse of assets 14JF9M93J 0.9n37 Cash cash equF¥¥entsat¢l* be95theye 84V09 8.862333 TN5 note recetstre
Notes to the financial statements Forlheyevrended 310e¢emter2024 eyAdvi¢eTiLSt is a thJTlt•ble L4 incotporated ifi the UThtEd T iegstered crffictadess ts TtknD House. Hagley . &Imin. 816 8Tr grtnts.$ thechxfft1has0ntidernemtotheftsS. any &dt0tre gra53¥£ been meLit ts probatlethat LreCed anatheèmOLthc berneawred rellabtyand isn Thefirtah¢i¥ siètementshavebeen orewed charitsÈs prng thIr accountsinaccordance Rep(K andbrd appliCae Inthe UK and 1rdd IFRS102). (Che$ fj &itertstrtcepAb SORP FRS102l.t Anamai Repothry Stwaio ap&dable UK •id rtest lundshdd de>sl$lre receEv4Lqe8nd the amwnt Republic of (FRS 102landlhE c(>5 Act 2006. be mea5Uted bytre thiiy.thiSisn(mtyuwi ofthe Assets lie0llityesareiAtyalty reco9nr5edworKa1¢osiortryh rterestd 01 PaLletr baf. valu8 unle55 OthÉrwi5e 5tstd nl the aCtt¥JnbW e) publ bn•fften The thahtètle CO•rtyrn¢eI$tre derbi01? mJkbenefftertyw FPS102. 4• n9<Tr¢em Cle>gre4 flts ¥e thirestriJedfund5ewmgthd bythe tru5teB5foi p8tbculBr f¢1 202Sano 2026 ageinstcvrrerfwd expecw Iihiwfrythe next12.1B contynue oursenpices thr9 20?5 2026. Taking perfoThance&nd resepOsr.t(YIhtr reasonable exrtetyonthWeVII he?eqte re50urcestoconr OPErntK>nal exi5gtnEElnthÈlLrtuiÈ, tnattheaC¢tyJrtS hkne prewred on the bagsthattho MeYAce Tn&isJgory cerrL The trustses do notCOr6erthIthÉr arysDurces of estwmtson uncenaintyattheIiry ttaie that hève a SigAfK•it EYelsre¢(ISeoty¢ therei$? 81 orcorthucbveobligationto pwsmemtoathyd patty.it ts W¢babbe that settiement¥%41 be reouired Jndthe rt4ytson w bErned ExFnlUTt1s d6SSifid und CoStsdraWJ IL•idsetO hicurredtytt chNitsLqe cofflpanyin thrd p8rriestomakevoluMatyCWthbutwsto ILOS wdl aslhecost tsidraising WtPDse EXrnJre<Ift chwtsLqe aaMtiE5 IndudÈsthe¢¢sts41 Nnnin9 Qwdebl athrteser¥ites.rAOvIir0 debt and Inccrfne Is categortsed 0$ tonw. broad woiectarea. i.e 7E51erqrerefits attr. . chaialeAdes". Wtor corrfradincome sEYwtÈrwtMIo reqredt0 5eNe the atthererthry thte. Ié1VAT iS¢hged asa costawnstthe acWfoiiththe Income $ nISed when theth•rty hjs WbtiernÈnttothÈfirts.wv pertormancÈ cOr)dth( tothe Inc¢me beenrw hsprrè*Ae 32
Notes to the financial statements reIe5 dlrecttytOihatactThity H¢rt¥thr.1co5tD1 otandIe[¢ InlStration0teBch Sa{Y1erhe•d c051$14the centralknthorK p1usfdra CostsareaFWfy baSedthiestyN staff lrne att11trto eath Xbvlty. Wheie Infoim8tion aboutth0ai. 0eC4r prictsflthechyty owded to potenV)I bwefioariex thecostsas%Niath LhiSWtyVity¥e louieo to thaiitatk expendrture. Te5Llbry IT past wtthatY•ill probably in the transfer 0ffunts1oathd partYthOrtdUPtOSett the tsblivabon Can Lrned<@sIed rd1abty.Credrto Pro5 nonnally recwsedattrSeldert¥mfflfteraknry foranytrad&d15CQUrt5 ThecwiiYty a55ets liknilthS ola kinothat guèlity styJ5KfwrKwI instre5. inslrurnents8re1nrtlr@c0gn158d Rentsl chgrge5aTethJr9ed on Wneb395(w tmCL•e5e. Tar•1blIXel assets Devlati costse dkKated t0athtie50nthÈb ofth in those vLtl¥ities.Assetsaie 5setsutthES¢heme ae w sep•atfv¢mthoseofthecherdat4eccrfny Olcumstsnces value&nd Val in use. Scherne bytr ¢Wltsble compbnyw the turf. Tre thyiWe¢rmpJry Lvththe scheme DlhErtr3n lut to hs estymated le$Ual¥UeOr ts¢xpe¢tEd Ul1e fates In use put¥ EqlPrfnt Furnthjre Ixiuios & EStrnateS¥ Jwnthils contiNalFyevaluatÉd tre baseo on htstorical otherf? knicludingvApodation50ffubJiEevents thatM8 Deblo awtyfflake5 assumpti ¢oncerniry thefthure. The anda5sufflptisW1l. bydefinitth.SetyTh equal tradè diScountoffEred @pbwneW¢led¥tthe •rnNirt weppKlnet nytr•de dlxwnts4ve. ml Cath •tb•nl •Dd kn h¥ Cashatbenk andcosh In hand hithJdes ush Inve#Mentslth a shortmaturityofthtEe KOrfrarn1hdatear cquisitian oropening Qllhe ri5kofwyr4 adw5ttothe carynyamEYJnts olassetsar liaL¥1th5ith1Ththe1*Atffin yeai aiediscued beh>w. kn¢Th15defwred whwegtarn tract iÈquiren)¥its cwy link ihe A5abDve butfoF 33
Notes to the financial statements . Forthe>Ywended31 Decernber20 2023 Totsl Tx•I 4(IBILX 7.4943X 2D24 2023 Total 11 D•btAO¥ie St0 ltyOebtAdvke 11595.143 I.9t3 15M056 12.364023 il Tr•kn# Sub-lotal forTrI OrnY3 463 1.IS6.B38 su&10 luinfyJ•nting & 732M T0tslirt¢)Mefr ch8ntable a(D M.6n686 1419.590 17.093276 .522061 Su&tot4lfoi DebtAthIt Iri Tv*inifvJ <)t41 for TrJknkng SaO.$47 226.291 I•S6MI
Notes to the financial statements Forth•01 31 Dorombu2024 2024 Staff cost5 IWe71 IT&Te* SupplyChBin n.13S247 t3W)J56 3.123.MO 479.133 fj02.963 425705 269.115 1.990.0 1V78.1U9 6%575 3.SS9 .rJ6 12B307 93N Oc¢upanEy Is. 1t458 7H726 Puty& Wornolc Training Depreu•lon Other Cost5 643.59S 2387 25333 2545 4Q445 9B.510 ¢>antsthe51 TrJ¥ 18.860 45, 2.Kg 12327 4.9K) 2.109 21.010 232316 1517.914 4S3AS3 3M.636 2.469.) ,187 2286ffi21 IM9ts 18267 3.653 IY4.636> 35
Notes to the financial statements F•Tlfv•rd•d3l oKber2034 ppyt T•t•l Staff cost5 We7) IT& Telephony Supplychain otherstaff Costs Occuwty CRM Dev£iowent P1dty& Promotton cMercIal Trainiry 417.425 1.113327 1.5853 677225 S24J31 432.075 341784 16&655 994 288.546 22.847 1.705.892 11369J12 153.745 1374716 1.585JT 7.6n B590 r3.925 S9297 9.574 .024 126.wl 97,WO M.$56 3m8 432ms 362.982 273.591 253,172 189.833 7.OS3 8420 273.S91 .023 197.503 31.307 Adse1 Traini Other Cosls Grantste 51 Trav Self Help PKk5 456 s32 2304 84M20 43.746 .402 237.B 14376225 2.%7.LY3 2&93S I99BJ59 26ns 12.*7.013J 4359 3S7.f4 21.022 5259 64B) 36
Notes to the financial statements Fortheyearended 31oe¢mr202• 5 14ntrn• 2023 In5trtkrteol MonByAth75er zen5Advice 75.220 Trds px stsled after dwgiry.. 2D 2023 Deweatn Owatlng leaseterrt Propety 2962 25>174 367.738 7J31 JJd11 iernuneiafjon lexctu¢liNJVAT Fees payatde to the Chws aLYStot ltrtheaLtholthè XCtqNits Fees ptyae to the aL*knlre5p¢rt0f. . ncrfvart$eThes not InLo akn 15J70 2.133 37
Notes to the financial statements Fortheyearended 31 De¢ember2024 2024.eXC Nl P4n52n. totalsd £130.55312D23. E121.6571 and wag SètllBtll8nts18rnpknyog$1 SwJl secuntyixJs1¥ f1311,101 211.141 1.193.5 75fj.352 1ffj654WO Ccwaie SeThw. thrfflorofMaTketsry & Erig3gBfflent. Dvècbyof InEXTh GeT80, Diiectorof Techrnlogy & TSforAts and Cornpany SecrelAry. TheTcla1ernpye8 eft3 lrythJ emyknPÈn5K)n ttxthbubtins and 8mpbygr 14414189 EaOS.470 (20Z3'. £615.fJ31. Thethorty l7JS ietsen 5% aid OfarffiL saknry to 9lltrtbnrtlsuth as termvthn paywthits, PenSab stabJwry iedundancy. notKe pay. and kn) in ¥vbth 1ntsm8lgovem woJufeS athj lknv. eprPtyJTwnt7knthaity th8yearl2023 £nill ND ¥WVK95 tothè tharity12023.' £nill Sory88 X24N trdndSubstslèA c•sts tOthlin9 E88312023'. £9451 Jrred ty3 I7j 31 rnmirs •tt8ndanrp#t £w,o £70.0 £69.999 £79,999 £89,999 tt) £99.999 t109,9Yg £119.999 tr) £119,999 £139,999 E149.999 b) £159,999 £169,999 £179.999 É189.999 É100.( £110.0 £120.0 £130.0 £140.0 £150.0 £1[0.} £170,0 £t80.oc 13 38
Notes to the financial statements FOrth+rd 31 02024 Stttnumbth tsf5tsfternplwdJ ntheara$ws1d. 2023 DebtAth 226 Influencing •nO Powcy SLWOrt BuSinÈ%5 DTrEnt ale PtytransactitsnStrJtsst for2024902>. There are no donwwsfr<rfn rdated wtSrfhattyJldetheWj 10 T•x41bon chaiitat4e iSaW Ii)rcha[tsbpp05@S-
Notes to the financial statements Foftheyeav ended 31 Decembw 2024 tl T•r4lbKfrAed49%eis Atthe start0flhear AddiTrons inyear Wsals in yèai S41871 277.5ts 881.02S 1302.490 115759 S.759 (B4.517J t.5 Attheendoltheft 5U877 277588 842267 1fj63Da Atthe startoftheyeBr Ch&rgeforthe ye Eliminated ond¥x>s 272m .ssi 793.292 12J2.$60 (S4.S17J ¢N.51YI Atthe end olthe y Netb00kvlu• 363.W 222.068 n2m4 1XOOS 180.714 55520 1A433 355327 Atthestartoftr*yÈ 271JS0 m.037 469.930 assetsare used for chytratyrpt6e& 12 Oebto 2D24 2023 Trtde debtors Otherdebtot5 PropBymÈnts Accrued Incom 1.023.359 B.672 Tr3,1)52 593.5( V12.443 4A¥651 2R37.980 40
Notes to the financial statements FOrthe>•rd131 L)Kqrnb•v 2D24 2023 TradecredltOTS Taxabon OtheT creditors AG(Tua15 0.305 763.om 20722 230.478 471333 550.162 597 1082.115 194954 3176.074 2023 Balante Btlhebeglnniry ¢flheyeJr Amwntrele•se4 to incm inthe>e Amwmdeferred in bae 1881115 2.119,662 Ilm8751 O.646.9231 1.409376 theendofthe>eartrLxaD akrKe ath4ndofthpyearffdlw¥J BakitK atthe End DftheyQar(flry th aAeronÈyew) IBB2.llS BIreIhe£Qlthe>wiT1Xa IM82.IlS
Notes to the financial statements Tangitle fi*dassets Net CUTNt èssets Lorwjterrn Ilatrlllties 355n7 ro592.825 609. 727 T9@X•d a55ets NetcurTent855Ets Longteim liabilthe5 }B5. W? 42
Notes to the financial statements Ftytheyewended 31 De¢mbr2024 At 2024 gair¢s 8 DebtAthce TraIn9 kffluenchig¥ Er4J4ement 2282.913 PJ82.gQJ 38.463 P8.463J 73.24 (ll2MJ 2.BY.59) P.894.590J DeygTrwedfund> ed Assets CRM •nd D•taWarehowe Innty•4tiDn ond Teth0 Marketlng Trar6lormaOo 469,920 543,022 5th).0 iS43.0221 rJ)o.0001 P35S iS86.W 803J42 Q68516> 1.017.6S4 7UfY• D11BdlIaff Fd Tot¥ denated fiJTrJs 1.608.997 4.S38J 14394.169 18386m5 D*622.597J 14394.169 21.6W305 P3.5fF.IB7J 43
Notes to the financial statements FortFATry•Brorrfld 31 O¢•mbr2024 2023 BneSS DebOinEand Oieth £¥pe1 Sèthices. These sers¢terfree.eXpert•rnd eS$h•1 debtJdbice¥w t0@ and DebtAdwc DebtAdiryce. CaFxW Costs DeblA¢wce. Cmzens >thce TnIng 247.0 37BI192 14.OX192J 34514 P4.$ 226291 P262911 The7rtIng wogiamme pr¢e$free lac& IKe4 thine morythcetrainiry.through 291896 4041997 14J34 trBiniry throuth ts Traniro & CortsuftarKy ofleti ¢Ove¢trÈ dvrt0pMM0fTnpdiCYin rdatiDnt05pKth tssuesano Dl9ted fun CRMand Dats waleh$t Inntsvbtion andTfthrLqo $43.022 16.44SI 20QCO) 31555 278 t2&W8 4$9920 SS2J80 62.$00 Tr TnJsteÈs he bgreed t0detefundslLy |¢in9.' TrJrsfrymwion Of 5ennce& Indlg Dilawdauon Fw (tsgnBtedfunts 1.6S7.902 P75.723) 324818 syem$. Sir¥tegy D0Pment F5f01 xed A55etShavebeen degwated. Th15 fwd onWcover5 assets tha5ed using PlEViDU51y dÈSignated funds 1tyV¢irne¢ w rÈser¥esin 2024.. . CRk4 aré OalaWJrehs . IM0vati TechrKlogy .556rn 17220.115 (MJ82mJ Totsl ll47.669 21.261112 (*717.6121 -DltspthW expenditurekn 21C Hil. •id 8th Fh>y.TfiCDm knSe. Bwmiryh8
Notes to the financial statements F¢rtheI ded 31 Dt4rnbw 2024 At1JLY Cath1 3024 24 Cash at ba4 inhand 8W333 1&1M7S41 333 (&09.7541 At311)erember 2024 Cashbank and In &862.333 ¢6,i39.7541 O.LYY) 2321 862353 13323.4301 foreath ofthefowty peytsts 2023 2024 2023 Less than one b* 4P35 1027 937X)20 1.3n646 IW.678 td rnt)re 7.f62 45
Notes to the financial statements Ftythe yearthed 310ecembet2024 20 L4yI It4bJi4lthetht theeventof vmnding LPi51imitedto £1. Iclh)%wng the end 01theryen1 lease160¢1¢0eI 20291or ihe and9JLfe 1029fry the Birmingharn wernrses. The woperbes beenCd se7¢tr2LwVj 10 kn2005 Septembei 2025. rnattei due to". AdeTiwt UertoOk in 29t0 imwtrrttheoifts sp..a thelanthords 1nwvforthefvIeo1lheVOpeItya5is1¢l•ffteda5QffiCesrnWyo1tre thbS ill51@d by moneY¥1[rsEIbL inse. rt1&)4II aSe1n re¥ettdtrds rtern. In dth0. it15n0tpoto LWtO ce5saYonofthele•se. Asswh.th15 Iteffl 15cornidEred to bacntiry lilty15 financial F)Sitthl Cflltained etsekneinihis reptyL priOT yeai Ststwert of Cashfltrw tecwKiledty ihe ¢astalbwk andin hd4nd QthTerrtirtdes1 total bul Shouldcty have Ioca5h anEaS thertIv¢sMtsaQ Thwihe hand rulen.
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