Grace Foundation IA Company Llmlted by Guarante81 IReglslered Number 50032761 Icharlty Number 11030211 Annual Report and Financial Statements Year Ended 31 August 2025
Grace Foundation IA Company Llmlted by Guarantee) Annual rgport and flnanclal statemonts forthe year ended 31 August 2025 Contents Page: Trustees, annual rewrt {incorporaling the director's report) Independent auditor's report to the members 10 Statement of financial a¢livilies (including Ir¢come and exp8nditure a¢¢ounti Statement of financial position 12 Statement of cash flows 13 Notes forming part of the financial statements Trust9 A M Edmislon G Spicer K Allen J Spicer Socrètary J P8arson Corr8spondèn¢e addre88 and reglstsred offlce The Gale, Intemational Drive, Solihull, B90 4WA Roglstorod Charlty number 1103021 Reglstergd number 5003276 Audltors Muras Baker Jones Limited, Re9enl House, Bath Avenue, Wolverhampton, W14EG Bankers Natwest Bank PLC, Sl Philips Pla¢e, Birmingham, B3 2PP
Grace Foundation {A Company Limlted by Guarantee) Trustees, annual report Ilncorporatlng the Dlrector's Report} for the year ended 31 Augu8t 2025 Trustees, Report The Trustees have pleasure in submilling their Report and Financial Statements for the yeai ended 31 August 2025. The Foundation is a company limited by guarantee. The liability of members in the event of the charity being wound up is limited lo a sum not exceeding len pounds each. The company is governed by a Memorandum and Articles of Association which were last amended on 3 April 2004. The MemTandum of Association sets out the company's investment powers. Referenco and admlnlstratlve detsll Grace Foundation is a registered charity, number 1103021. The charity trustees during the year ended 31 August 2025 and at the date of signing this report were.. A M Edmiston G Spicer K Allen J Spicer ObJOCtIv•8, Pollcles and Oryan18atlon The Foundation was incorporated on 24 December 2003 with ils objèctives being the advancement, for the public benefit, education in the United Kingdom by promoting the establishment, mainlenan¢e, carrying on, management and development of schools with a Christian ethos and in accordance with Christian principles. The Trustees, who are Directors of the Company, are sel out on the first page of these financial statements. We have referred lo the guidance contained in the Charity Commission's general guidance on publi¢ benefit when reviewing our aim and objectives and in planning our future aclivilie5. In particular, the Iruslees consider how planned activities will contribute to the aims and objectives they have set. Rolatlonshlps wlth Other Bodle8 During the year, The Foundation continued to contribute towards the work carried out by Tove Learning TrLJSt who operate a chain of Academies based around the Midlands, Norlhamplonshire, and Milton Keynes. They provide education for pupils of different abilities baeen the ages of 11 and 19. In the 2024-25 Academic year they also worked with other Mulli-Academy Trusts such as Inviclus Education Tru51, Mercian Trust and Tudor Grange Academies Trust lo expand the work of the Grace Foundation Ethos Tearns. Developments. Actlvltle8 and Achlevements Grace Foundation has experienced a year of sKJnificant growth and measurable impact, with over So staff serving more than 15.000 students and their families across 14 partner schools in four Mulli-Aeademy Trusts. Our Ethos Teams continue lo transform attendance, behaviour, and aspirations through holistic education that integrates personal development, family support. and faith-based values. This year saw the launch of new partnerships al Huxlow Academy and Tudor Grange Kingshurst, both already demonstrating improvement in culture, behaviour. and wellbeing. A new Cluster Model has slrenglhened peer collaboralion and accounlabilily, Whi preparations are complete for a fifteenth partner school to open in 202>26.
Grace Foundation IA Company Limited by Guarant001 Trustges, annual rgport (in¢orporating the Dire¢tor'$ Report) for the year ended 31 August 2025 (¢ontlnued) Developments, Actlvltleg and Achlevements leontlnuedl ACTOSS the year, our teams delivered over 632,000 student engagements, 9.019 group interventions, and 4,014 one-to-one sessions-each designed to remove barriers lo learning and improve wellbeing. More than 39.000 parental engagements provided practical and emotional support, helping families overcome anxiety, attendance issues, and the pressures of daily life. Our integrated model continues to show how targeted svpport can rebuild confidence. restore motivation, and change life IrajeGlories for young people. The personal stories behind these numbers reflect the depth of Iransformalion taking place. Students struggling with low allendance have re-engaged with education through slruclured mentoring and relational support, while others facing anxiety and self-harm have developed coping strategies and rediscovered hope. Parents have reported stronger relationships with their children and a renewed sense of stability al home. Our work has contributed to positive Ofsled outcomes across several schools, including Huxlow Academy, Leasowes High School, and Q3 Tipton, all recognised for improvements in behaviour, wellbeing. and personal development. National recognition from the Centre for Soci81 Justice and work with the Association for Character Education fvrther affirms the effe¢liveness of our model in building inclusive, values-driven school ¢ommunllSes. Programme highlights demonstrate the breadth of our work. Careers and Aspirations coaching helped 990/0 of targeted students feel confident about their next steps, while group programmes such a5 LIFT, Miss Understood, and The Boys Project boosted emotional resilience. empathy, and self-esteem. showing a significant increase in wellbeing. One-to-one mentoring provided safe spaces for vulnerable students lo talk, sel goals, and regain a sense ol purpose, often leading lo clear improvements in attendance and engagement. The Easter Enigma Campaign generated over 32,000 sludenl engagements, encouraging reflection on foTgiveness, purpose, and identity through the message of hope. Continuous plofessional development and a strengthened Quality Assurance Framework have ensured consistently high standards as the Foundab'on grows. With strong partnerships and an expanding reach, Grace Foundation remains committed lo transformin9 school culture, supporting families in need, and helping every young person flourish in life and leaming, Reserves Pollcy The general funds provide the Foundation with the financial headroom needèd lo sustain operations and support future activity across partner schools. The Trustees monitor reserves throughout the year and ensure they are maintained al a level that enables the Foundation to respond lo operational demand5 and emerging risks. Unreslricled reserves were £211,324 as at 31 August 202512024 - £308,149). Since the financial year end the Foundation has sel up a separate reserves account that holds unrestricted reserves of £240,000, ils use of which is restricted by condilions $el out in the Reserves Policy. This is lo ensure lon9 term stability and lo safeguard future objectives. Flnanclal Revlew The Foundation received income of £1,733,834 12024 - £1,672,017) during the year, of which £36,918 were restricted funds12024 - £nill. Total outgoing resources were £1,814,00012024- £1,546,929> for the year, of which £20,259 was categorised as reslricled expenditure. The Foundakn'on is dependent upon donations lo safeguard ils long term future and will primarily be fLJnded by donations from l.m. Group Limited. The trustees have agreed budgeted charitable activity for the period of at least twelve months from the Balance Sheet date and have received assuiances from the Directors of l.m. Group Limited that they will continue to make contributions in line with this budget.
Grace Foundation IA Company Llrnlted by Guarantee) Trustees, annual report lincorporatlng the Dlrector's Reporti ft)rthe year ended 31 Augugt 2025 (contlnued) Going Concern and rlsk review Grace Foundation aims lo continue and expand its current activity and will primarily be funded by donatn8 from l.m. Group Limited. The trustees have agreed budgeted charitable activity for the period of al least e1ve months trom the Balance Sheet date and have received assurances from the Directors of l.m. Group Limited that they will continue to make contributions in line with this budget. The charity has fvrther sought assurances from the Directors of l.m. Group Limited of the financial strength and liquidity of l.m. Group Limited. In addrtion lo the above further sponsorship from Grace Charitable Trust enables u$ to securely expand into future partner schools. The trustees have assessed the key rtsks facing the charity over the next 12 months. These include continued cost pressures within the education sector, rising salary expectations, and wider economic uncertainty. Operational risks relating to school access. staffing levels, and delivery capacity have also been considered. Through close financial management and careful oversight of delivery, the Iruslees consider the Gharity to have suffioient headroom to adapt ils model and operate effecttvely within ils available resources. Grace Foundation has tsken assurances from the directors of l.m. Group Limited that the group will ccnlinue lo make chantable donations lo satisfy the ongoing working capital requirements of the charity for a period of at least e5ve months from the approval dale ol these financial statements in order to allow Grace Foundation continue ID satisfy its operational objectives and honour financial obligations as they fall due. Trustee Inductlon and tralnlng A list of trustees is shown on the front sheet lo the accounts. The Appoinler to the charity is Andrew Edmlslon. The Appointer has the ullimale power lo appoint and remove trustees. The key management personnel are Gary Spicer and Dave Boden. The training and induction provided for Trustees will depend on their existing experience. Where necessary induction will provide training on charity and educational legal and financial matters, induction lends lo be done informally and is tailored specifically lo the individual. Trustees, re8pon81billtles The trustees, who are also directors for the purposes of company law, are responsible for preparing the Iruslees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Ivniled Kingdom Generally A¢¢epted Accounting Pracb'cel. Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the stale of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
Grace Foundation (A Company Llmited by Guaranleo) Tru8tee8' annual report Ilncorporatlng the Dlrector's RgPOrtI for the year ended 31 August 2025 (contlnued) Trugtèos, responsibilities Icontinuedl In preparing these financial statements, the trustees are required to., Select suitable accounting policies and then apply them ¢onsislenlly', observe Ihe methods and principles in the applicable Chanlies SORP., make judgments and accountin9 8Stimates that are reasonable and prudent., slate whether applicable UK Accounts'ng Standards have been followed. subject to any material departures disclosed and explalned in the finan¢lal stslements,. prepare the financial slalemenls on the going concern basls unless it is Inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are suffi'cient to show and explain the charity's transactions and disclose with reasonable ac¢ura¢y al any time the financial position of the charity and enable them lo enslsre that the financial ststemenls ¢omply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection ot fraud and other irregularities. Audltor Eaoh of the persons who is a trustee al the date of approval of this report confirms that.. so far as they are aware. there is no relevant audit information of which the charity's auditor is unaware., and they have tak&n all steps that they ought to have taken as a trustee to make themselves aware of any relevant audil information and lo establish that the charlty's auditor is aware of that information. The trustees, annual report and the slraleglc report were approved on 14 May 2026 and signed on b8half of the board of Iruslees by.. A M Edmiston Trustog Date 14 May 2026
Grace Foundation IA Company Llmlted by Guarantee) Independent Audltor's Report to the Member8 of Grace Foundatlon Year ended 31 August 2025 Oplnlon We have audited Ihe financial statements of Grace Foundation Ilhe 'charity'l for the year ended 31 August 202S which Comprise the slalement of finan¢ial a¢tivities lin¢luding income and expenditure accountl, sta18menl of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom AGGounling standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally A¢pIed Accounting Praclicel. In our opinion the financial stalemenls-. give a true and fair view of the stale of the charity's affairs as at 31 August 2025 and of ils incoming resources and application of resources, including ils income and expenditure, for the yèar then ènded., have be8n properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., have been prepared in 8c¢ordance with the requir8ments of the Companies Act 2006. Ba818 for oplnlon We conducted our audit in ac¢ordan¢e with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Gharity in accordanee with the ethical requirements that are relevant to our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu8lon8 relatlng to golng concern In auditing the financial statements. we have concluded that the trustees, use of the going concern basls of accountin9 in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material un¢ertainlies relating lo events or conditions that, individually or collectively, may cast significant doubl on the charity'5 ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the trustees with respect to golng concern are described in the relevant sections of this report. other InformatSon The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial ststements, our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misstated If we identify such material inconsistencies or apparent material misslatemenls, we are required lo determine whether there is a material misslstemenl in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclLJde that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in thig regard.
Grace Foundation IA Company Limited by Guaranteol Independent Audltor's Report to the Members of Grace Foundation (¢ontlnuod) Year ended 31 August 2026 Oplnions on other matter8 prescribed by th8 Companlgs Act 2006 In our opinion, based on the work undertaken in the course of the audil.- the information gwen in the Iruslees, report for the financial year for whlch the financAI statements are prepared is consistent with the financial slalements., and th8 trustees, report has been prepared in accordance with applicable legal requirements. Matt•r8 on whl¢h we are requlred to report by oxc•ptlon In the light of the knowledge and understanding of the charity and its envlronmenl oblalned in the course of the audit, we have not identified material misslalements in the Iruslees, report. We have nothlng lo report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and 8xplanations we require for our audit. Ro8pon8lbSlltl88 of truste•s As explained more fully in the trustees. résponsibilities slalement, tha trustees (who are also the directors for the purposes of Gompany lawl are fesponslble for the preparation of the financial statements and lor being satisfied that they give a true and fair view, and for such internal control as th6 truste6s determine is necessary to enab the preparation of financial slalemenls that are free from malarial misstatement, whether due lo fraud or error. In prèparing the financial stalemenls, the trustees are responsibl8 for assessing the charlty's ability to conlinLse as a going concern, disclosing, as applIcab, mallers related lo going concern and using the going concern basis of accounting unless the Iruslees either intend to liqu"Klale the Charity or lo Cease operations, or have no realkstic allernalive bul lo do so. Audltorf$ ro$ponsibilities for the audit of th• finan¢ial Statsments Our objectives are lo obtain reasonable assurance about whether the financial $18temenls as a whole are free from material misslalemenl, whether due to fraud or error, and lo issue an auditor's report that includes our Opinn. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audlt conducted in accordance with ISAS IUKI will always detect a material misslalemenl when rt exists. Misslalements can arise from fraud or error and are corbsidered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial Statements. Irregularities, including fraud. are instsnces of non-compliance with laws and regulatDns. We design procedures in line with our responsibilities, outlined above, lo delecl material misslatemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detalled bebw..
Grace Foundation IA Company Llmlted by Guarantee) Independent Audltor'8 Report to the Members of Grace Foundatlon (contlnued) Year ended 31 August 2025 In planning and designing our audit tests we identify and assess the risks of material misstalemenl within the financial statements, whether due lo fraud or error. Our assessment of these risks includes consideration of the nature of the industry and sector, the control environment and the business performance along with the results of our enquiries of management about their own idenlificalion and assessment of risks and irregularities. In common with all audits under ISAS IUKI, we are also required lo perform specific procedures lo respond lo the risk of rnanagemfjnl override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial slatemenls. The key laws and regulations we considered in this context included the UK Companies Act, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with management. We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members in¢ludin9 internal specialists, and remained alert lo any indications of fraud or non-compliance with laws and regulations throughout the audit. Aftèr consideration of the above risks we then cariied out audit procedures including the following.. p6rforming analytical procedufes lo identify any unusual or unexpected relationships that may indicate risks of material misslatemenl due to fraud., reading minul6s of management meetings,. enqulring of management and reviewing any correspondencè with legal advisors concerning actual and potenllal litigation and claims., reviewing the financial slalemenl disclosures and testing lo supporting documentation to assess compllance with provisions of relevant laws and regulations described as having a direct effect on the financial statements,. in addressing the rlsk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgements made in making accounting estimates are indicative of a potential bias., and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. There are inherent limitation5 in our audrt procedures describèd above. The more removed that the laws and regulations are from financial transactions the less likely it is that we would be aware on non-¢ompllance. Auditing standards also limit the audit procedures required lo identify non-compllance with laws and regulations to enquiry of the dlreclors and other management and the inspection of regulatory and legal correspondence, if any. Material misslalements that arise due lo fraud can be harder to delecl than those that arise from error as they may involve deliberate concealment or collusion. A ftjrther description of our responsibilities for the audit of the financial slalemenls is located on the Financial Reporting Council's website al www.frc.org.uklauditorsresponsibililies. This description forms part of our aLsdilor's report.
Grace Foundation IA Company LSmlted by Guaranteo) Independent Audltor'8 Report to tha Members of Gracg Foundatlon (¢ontlnued) Year ended 31 Augllst 2026 Use of our report This report is made solely lo the oharily's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlght slate lo the charity's members those matters we are required to slate lo them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's membeis as a body, for our audit work, for this report, or for the opinions we have formed. Nicky Gibbons BSC (Honsl FCA (Senior Statutory Auditor) For and on behalf of Muras Baker Jones Limrted Chartered accountants & stalulory auditor Regent House Bath Avenue Wolverhampton Wesl Midlands WV14EG Date. :Trl(.,,
Grace Foundation IA Company Llmlted by Guarantee) statement of flnanGlal actlvltles Ilncludlng Sncome and expendlture accounti forthe year ended 31 August 2025 Note 2025 Unrestricted Funds 2025 R•strl¢ted Funds 2025 Total 2024 Totsl Income from: Donations Grants received 1.696.916 3,584 33,334 1,700,500 33,334 1,672,017 Total In¢omo 1,696,916 36,918 1,733,834 1,672.017 Expendlture on: Charitable expenditure 1,793,741 20,259 1,814.000 1,546,929 Net Income (96,8281 16,669 180,166) 125,088 Fund balance brought forward at 1 S&plember 12 308,149 308,149 183.061 Fund balance8 cairlod foréiard at 31 August 12 211,324 16,659 227,983 308,149 All disclosures relate tsnly to continuing operations. There are no recognised gains or losses other than those disc105ed above. The notes on page$ 13 to 21 form part of these financial statements. io
Grace Foundation IA Company Llmlted by Guarantee) Statement of flnanclal posltlon a8 at 31 August 2025 Company number 5003276 Note 2025 2025 2024 2024 Non-eurrent assets Tangible fixed assets 2,967 2,830 Current assets Debtors Cash at bank and in hand 75.281 289,299 26.305 343.137 Credkors: amounts falllng due wlthln ono year 10 {139,5641 164,1231 Net current a88ets 225,016 305,319 Total as8ets le88 current liabilities 227,983 308,149 Thè funds of the charlty: Unreslricled funds Restricted fund8 12 12 211,324 16,659 308,149 Total funds 227,983 308,149 These financial statements were approved by the Board of Trustees and authorised for issue on 14 May 2026, and are signed on behalf of the Board by.. A M Edmislon Trustee Date 14 May 2026 The notes on pages 13 to 21 form part of these financial statements.
Grace Foundation IA Company Llmlted by Guarantee) Statement ol cash flows as at 31 August 2025 Noto 2025 2024 Cash flows from operatlng actlvitle8 Cash provided by operating activities 1S 152.6961 119,132 Cash Ilows from Inve8tlng actlvltle8 Purchase of equlpment 11,142 11,0581 (Decreasellincrease in cash and cash equlvalenls in the year {53,838) 118,074 Cash and cash èqulvalenls al the beginning of the year 343,137 225, 063 Total cash and ca8h equlval8nt8 at thg ond of the year 289,299 343,137 Analy818 of cash and ca8h equlvalents Cash al bank and In hand 289,299 343,137 12
Grace Foundation (A Cornpany Llmlted by Guarantee) Notes lo the account8 forthe ye3r ended 31 Augu8t 2025 Accounting pollcles Basis of preparatlon The financial ststemenls have been prepared in accoTdance with appli¢able law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Aceounling Practice) and comply with the Statement of Recommended Practice ISORPI Accounting and Reporting by Charities FRS 102 effective from January 2019. The financial slalemenls are prepared under the historic cost convention. The financial ststements are prepared in pound sterling (£1 and the ligures are rounded to the nearest £. Judgements In applylng accountlng pollcios and key sources of e¥tlmatlon uncertalnty In preparing the Financial Slalements, management is required lo make eslimales and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of eslimales. together with expectations of future events that are believed lo be reasonable under the ¢ir¢umstances. Actual Tesulls in the future could dilfer from such eslimales. There are not considered to be any key areas ofjudgement these financial ststemenls. Going conc8rn Grace Foundation aims lo continue and expand ils current activity and will primarily be funded by donations from l.m. Group Limited. The Iruslees have agreed budgètèd charitable activity for the period of al least twelve months from the Balance Sheet dale and have rec8ived assurances from the Directors of l.m. Group Limited that they will continue lo make contributions in line with this budget, The charity has further sought assurances from the Directors of l.m. Group Llmiled ofthe financial 51Tenglh and INuidity cf l.m. Group Limited. The trustee5 have considered all reasonable risks associated with the operation of its business model for a period of al least 12 months from the dale of signing the accounts. Risks include increasing pressures on salaries and the 'cost of living, crisis in the UK. The Iruslees consider that their close management style and controlled expenditure will give the company sufficient headroom lo adapt the business model sufficiently to continue in operational existence and operate within its cash headroom. Grace Foundation has taken assurances from the directors of l.m. Group Llmiled that the group will continue to make charitable donations to satisfy the ongoing working capital requirements of the charity for a period of at least twelve months from the approval dale of these financial statements in order to allow Grace Foundation lo continue to satisfy its operats'onal objectives and honour financial obligations as they fall due. The Trustees confirm that al the lime of approving the financial statements, there are no material uncertainties regarding the foundations ability lo continue operational existence for the foreseeable future. Accordingly, the Iruslees consider it appropriate to prepare these financial statements on a going concern basis. Fund accounting Unrestricted fund5 are available for use at the discretion of the trustees in fvjrtherance of the general objectives of the charity and are retained for working capital purposes. Restricted funds are to be used in accordance with restrictions sel out by the donor. The cost of administering such fvjnds is lo be charged against the specific fund. The purpose and use of each reslrieled fund is sel out in the notes to the financial statements (note 15). 13
Grace Foundation IA Company Llmlted by Guarantee) Notes to the a¢counts for the year ended 31 August 2025 (contlnued) Accounting policies 8a8ls of preparation (continued} Incom8 Donations and other income are recognised within the statement of financial a¢dvities when receNable. Expenditure Expenditure has been charged lo Ihe statement of financial activities on an accruals basis. Gov8rnn7enl grants Government grants are rQgnised when il is reasonable lo èxpect that the grants will be received and that all related conditions wlll be mel usualty on submission of a valid claim for payment. Direct charitable expenditure relates to the donations made in the period. Donations payable are payments made to third parties in the furtherance of the charitable objectives of the Trust. Governance costs include those costs associated wrth meeting the conslitulional and statutory requirements of the charity and include the audit fees and costs linked lo the management of the Charty. Operating leases Rentals applicable lo operating leases are charged to the Slalem8nl of Financial Activity over the period in which the cost is incurred. Financial instmments The charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial Inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Pension costs Contributions lo the ¢ompany's defined conlribulion pension schème are ¢harged to the profil and loss account in the period in which they become payable. T8X8tion The company is a ¢harity within the meaning of Para 1 Schedule 6 Finance Act 2010. Accordingly the Company is potentially exempl from laxalion in respect of income or capital gains within categories covered by Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively to charitable purposes. No lax ch8rge arose in the period. 14
Grace Foundation IA Company Llmlted by Guarantee) Notes to the accounts for the year ended 31 August 2025 (continued) Accounting policies Basis of preparation (continued} Tangiblé fixad assets Tangible fixed assets under the cost mdel are staled al historical cost less accumulated depTecialion and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable lo bringing the assets lo the location and condition necessary ft)r it to be capable of operating in the manner intended by management. The company adds to the carrying amount of an item of fixed assets the cost of Teplacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits lo the company. The carrying amount of the replaced part is dereeognised. Repairs and maintenance are charged lo the statement of financial activities during the period in which they are incurred. Depreciation is provided on the following basis.. Computer equipment Fumiture 250/0 Straight line 200/0 Straight line The assets, residual values. useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriat&, or if there 15 an indication of a signifi¢ant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the Garrying amunt and are recognised within administrative expense5 in the Stslement of financial activities Donatlons 2025 2024 Donation5 1,700,500 1,672,017 1,700,500 1,672,017 Of the above donations, £1,696,91612024-£1,672,017} related to unreslricled fvnds and £3,58412024.£nll} related lo restricted funds. Grants recelved 2025 2024 Grants 33,334 33,334 Of the above grants recewed, £33,334 (2024-£nill related to restricted funds. 15
Grace Foundation IA Company Limited by Guaranteel Notes to the acGounts forthe yearended 31 August 2025 (contlnuedj Direct eharitable oxpenditure 2025 2024 Ethos Teams Programme costs Personnel costs Governance costs (note 41 Bank charge5 Depreciation Tove Learning Trust 242.909 1,444.604 125,454 28 1,005 214,341 1,179,784 116,760 16 811 35,217 1,814,000 1.546.929 Of the above dire¢l charllable expenditure, £1.793.741 relates to unTestri¢ted funds1202441,546,9291, and £20,25912024-£nill relates to restricted funds. Ethos Fund expenses includes travel, meeting, phone costs and Education support costs, Governance ¢ost8 2025 2024 Legal and professional fee$ Auditors remuneration 118,254 7,200 106,230 10,530 125,454 116,760 Net Income 2025 2024 Net Income Ss stated after charglng,. Depre¢ialion Auditors remuneration 1,005 7,200 811 10,530 Staff cost8 2025 2024 Salarles National insurance Pension costs 1,159,077 109.210 112,511 962,504 77,978 89.396 1,380,798 1,129,878 16
Grace Foundation IA Company Llmlted by Guarante01 Notes to the accounts for the year ended 31 August 2025 (contlnued) Staff costs {continugd) Average number of persons employed by the charty during the year lexcluding Trustees) analy$ed by function.. Number 2025 Number 2024 Management and administration of the char'ty Ethos and support workers 39 30 47 38 There are emp1oyee$ in¢luded above whose earnlng5 Ilncluding tsxable benefits in kindl exceeded £60,000. 12024 - onel No trustees re¢elved any emoluments or were reimbursed any expenses during the year. The key management personnel comprise the tru5tee5 whose employee benefits total £Nil12024 - £NS11. 8 Flxed 088frts Computar Equlpment Furnlturg Total Cost Al 1 September 2024 Additions Disposals 7,112 1,537 1,142 8,649 1,142 At 31 August 2025 7,112 2,679 9,791 Depreclatlon Al 1 Seplember 2024 Provided for during the year 5.512 526 307 479 5,819 1,005 At 31 Augusl 2025 6,038 6.824 Not book value At 31 August 2025 1,074 1,893 2,967 At 31 August 2024 1,600 1,230 2,830 17
Grace Foundation IA Company Llmlted by Guarantee) Notes to the accounts for the year ended 31 August 2025 (contlnued) Debtors 2025 2024 Prèpayments and aecrued income Other debtors 68.790 6,491 7,803 18,502 75,281 26,305 10 Credltor8: amounts falllng due wlthin ono year 2025 2024 Trade creditors Accruals and deferred income Taxation and social security 21,713 91,167 26,684 7.982 34,968 21,193 139,564 64,123 11 Flnanclal In8trument8 2025 2024 Flnanclal a88et8 Cash and cash equivalents 289,299 343,137 289,299 343,137 Flnanclal Ilabllltles Financial liabilities measured al amortised costs 139,564 64,123 Flnancial assets measured al amortised cost Comprise other debtors and prepayments. Financial assets also In¢lude cash and cash equivalents. Flnancial liabllilies measured al amorlised cost comprise other creditors and accruals. 18
Grace Foundation (A Company Limlted by Guarantee) Notes to the account8 for the year ended 31 Augu8t 2025 (contlnued) 12 Movemènt in funds At 1 Septemb81 2024 At 31 August 2025 Incoming resourcés Outgolng regources Unreslrlcted funds Reslrieled funds 308,149 1,696,916 36,918 (1.793,741} 120,2591 211,324 16.659 Movomfynt In lund8 Iprloi y•avl At 188ptember 2023 At 31 August 2024 Incomlng re8ourc¢s Outgolng re8ources Unre$lri¢led fvnds 183,061 1,672.017 11,546,9291 308,149 13 Re8trl¢ted fund8 At 1 Septembgr 2024 At 31 August 2025 Fund Income Expandlturo Christmas food hampers {Grace A¢ademy Solihulll Flourish (Rushden Academy) Friendship benches (Ellowes Hall Sports College) Solihull Young Carers (Gra Academy Solihulll Family fun day IEllowe$ Hall Sports College) The Daylight Centre IHuxlow Academy) The Rigby Foundation (Tudor Grange Academy Kingshursll 270 270 2.000 200 918 1.082 zoo 200 130 70 414 414 500 500 33,334 18,527 14,807 36,918 20,259 16,659 Chrlstmas food hampers (Grace Academy Solihulll - money was donated from a couple of local businesses to contribute lo food parcels sent out at Christmas tsme to families in need. Flourish (Rushden A¢ademyl- Flourish are an organisalion that help and 5UPPOrt those who work in the care sector, childrens services and education. The grant was for resources and events for the schools work with Flourish, including fumishing the family support room. Friendship benches (Ellowes Hall Sports College) The Blakemore Foundation donated funds to contribute towards friendship benches for the schools outside area. 19
Grace Foundation IA Company Llmlted by Guaranteo) Notes to the accounts for the year ended 31 August 2025 (continued) 13 Restricted funds Icontinugdl Solihull Young Carers IGrace Academy Solihulll - Money was donated to cenlribule to a young carers event being held at Grace Academy Solihull. Family fun day (Ellowes Hall Sports Collegel- The Blakemore Foundation donated funds to contribute towards resources for the family fun day being held during the summer holiday at Ellowes Hall Sport College. The Daylight Centre IHuxlow Aeademyl - Funds were donated by The Daylight Centre and Foodbank as a contribution towards resources needed for the Toast Club that the Ethos team al Huxlow Academy run every morning, as well as items for family food parcels that are sent to in need families of children who attend the school. The Rigby Foundation- The Rigby Foundation wholly funds the Ethos team based at Tudor Grange Academy. King$hurst. This includes staff ¢o$ts. resources and materials needed by the Ethos team and any events, assemblies, workshops and clubs that the Ethos team facililale. 14 Pen8lon8 The company op6rate$ a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension charge amounted lo £112,511 12024 - £89,398>. There were outstsnding contributions of £Nil12024 - £Nill al the end of the financial year. 15 Roconclllatlon of In¢omelloxpendlturel In funds to net cash flow from operatlng actlvltlo$ 2025 2024 Net income for the year Add back depiecialion charge Ilncreasel in debtors Increase in creditors 180,1681 1.005 {48,9761 75.441 125,088 811 115.8401 9,073 Nel cash provided by operating a¢tsvitie$ 152,6961 119,132 16 Related party tran$a¢tlons Dunng the year donations of £1,404,000 12024 £1,356,000> were received from l.M.Group Limited, a company in which Andrew Edmislon is Managing Director. Payments were made lo l.m. Group during the year of £60,07612024 - £49,829> for use of a company credit Card, BUPA contributions for Grace Foundation stsff, staff life insuranc&, and employers liability insurance. The amount due lo l.m. Group al the balance sheet date was £9,70512024 - £3.3391. Payments were made during the year to l. M. Facilities Limited, a company in which Andrew Edmislon is also a Directoi, of £25,107 {2024 - £27,683), in respect of office space rental and canteen reGharges. The amount due lo l.m. Faalities Limited at the balance Sheet date was £7312024 - £501 }. Radical Outreach Limited is a company owned and controlled by a family member of Josh Spicer and Georgia Spicer. During the year Radical Outreach Limited provided consultancy service5 to Grace Foundation and invoiced £31.941 12024 £33,2591 in respect of those services. £2,697 remained outstanding at 31 August 202512024- £Nill. 20
Grace Foundation {A Company Llmlted by Guarantee) Notes to the accounts for the year ended 31 Augu8t 2025 (contlnued) 17 Analysls ol net assets between funds - 2025 Unrestricted funds Restrlcted funds Total Tangible fixed assets Current assets Current liabilities 2,967 277,512 169,1551 2,987 364,580 1139,5641 87,068 {70,4091 211,324 16.659 227,983 Analy818 of net a88ets between fund8 - 2024 Unrestricted funds Restricted funds Total Tangible fixed assets Current assets Current liabilities 2,830 369,442 164,1231 2,830 369,442 164, 1231 308,149 308,149 21