Charity number: 1104518
THE REACT FOUNDATION
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Armstrongwatson.
Accountants, Business & Financial Advisers

THE REACT FOUNDATION
CONTENTS
Page
Reference and administrative d8tail$ of the Charity, its Trustees and advisers
Trustees, report
Independent examlnerfs report
Statement of financial activities
Balance sheet
10
Notes to the financial statements
11- 17

THE REACT FOUNDATION
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
Trustees
Mr T P Woolaghan, Trustee
Mr M Priestley, Trustee
Mr T R Durcan, Trustee
Mr l Lupton, Trustee
Ms K Daniels, Trustee
Mr K Hannah, Trustee
Mr R Smith, Trustee
Miss K Johnston, Trustee
Ms J Perkins, Trustee
Charity registered
number
1104518
Principal offlco
Phoenix Court
Earl Street
Cleator Moor
Cumbria
CA25 SAU
Accountants
Armstrong Watson LLP
Carleton House
136 Gray Street
Workington
Cumbria
CA14 2LU
Bankers
Cumberland Building Society
52 High Street
Cleator Moor
Cumbria
CA25 5A
Page 1

THE REACT FOUNDATION
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Trustees present their annual report together with the financial statements of the Charity for the year 1
September 2023 to 31 August 2024.
Objectives and actlvities
Policies and objectives
The charitable trust is constituted by a declaration of trust dated 25 May 2004. The objects of the trust is to
advance the study of engineering in the West Cumbria area by providing financial assistance to students
undertaking university study in engineering or a related subject. The policy of the trustees is to develop streams
of new funding for the charity and to implement procedures to identify potential beneficiaries of the funding. The
day to day running of the charity is undertaken by the trustees.
The trustees believe the public benefit is lo advance the Study of Engineering in the West Cumbria area by
providing financial assistance to students undertaking university study in engineering, or a related subject.
Achi8vements and performance
Maln achievements of the Charity
Unlverslty Award
In September 2023, The React Foundation held its annual awards evening with combined Promise Evening for
the winning 202312024 students.
Cheques were handed over to the winning 2023 students at Whitehaven Golf Club in September. Paige
Champman from Millom School picked up the winning cheque, with Oscar Spencer Wright from Cockermouth
School receiving the runners up award. Sam MGloughlin, also from Cockermouth School received his winning
cheque from the IMechE.
After much deliberation, The Trustees decided to award the 2024 university award to Keelan M¢keown from St
Benedict's School, with St Benedi¢t's student Alfie Taylor also being awarded runner up prize.
The IMeGhE reviewed relevant applicants for their award and decided to award their 2024 award to Rhys
Jackson from Sl Benedict's.
The above students were promised these awards in September 2023, and will receive their checks in September
2024, should they continue to meet the criteria for the award.
The Post 16 Awards
The 9 2023 students that were promised the 2023 Post 16 awards picked up their cheques at The Golf Club in
September. The winners were.. Beth Blythe (Westlakes Academy), Thomas Pavey (Westlakes Academy),
Joshua Groggins (St Benedict'sl, Mycah Labiano {St Benedict's), Ruby Haile (UTC), Emma Holecova
{Cockemouth School), Toby Cooper (Cockermouth School), Alex Cooper (CoGkermouth School) and Jack
Bloomer {Cockermouth School).
The Trustees reviewed all applications and awarded the following 9 students the 2024 Post 16 awards.. Rowan
Johnstone {St Benedict's School), Isobell Hood (St Benedict's School), Edward Smith (Cockermouth School).
Eve Jennings {Cockermoulh School), Lauren Glynn Iwhitehaven Academy), Tyler Huddart (Nelherhall School),
Charlie Deans Iwestlakes Academy), Caitlin Amber Sands IUTCI and Jack Procter (Keswick School).
The students attended the Promise Evening in September 2023 where they received a letter of promise for the
cheques next year. The turn out for the evening was great, with teaching staff accepting the letters on behalf of a
couple of students that were unable to attend.
Page 2

THE REACT FOUNDATION
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and perfomiance (continued)
Annual ScienGe & Engineering Shows 2023
The REACT Foundation Annual Science & Engineering Show was launched in late September 2007 offering the
opportunity for every Year 6 child in West Cumbria to attend an exciting science and engineering show. Due to
the success of the Year 6 shows a secondary show was introduced in September 2010 to year 9 students and
this was extended to include Year 7 & 8 in 2013. The primary shows are also attended by Year 5 students.
Continued communication was had with the Science Museum, but unfortunately due to recruitment issues and
reshuffling within the museum, they were unable to commit and present the shows this year. The Foundation
reached out to Simon Watt who came up to Cumbria in 202112022 to present the shows. Simon was able to
commit lo the shows, but stated he wouldn't be able to the 2-week block of shows as we normally do, due to him
being on his own.
The Foundation worked hard to secure continued funding for the 2023 shows, with RWE sponsoring for the 15th
consecutive year.
KS2 Primary Shows: The Ugly Animal Roadshow
Slmon Watt came up to Cumbria to present his Ugly Animal Roadshow.. an interactive show that introduced the
students to an array of very ugly animals and explained why they're important to save. The show celebrated and
explored Ihe incredible biology of the animal kingdom's most monstrous. It investigated what adaptations make
them amazing, and how such hideous creatures evolved in the first place.
The students were in fits of laughter at the show and its various challenges that got students up to the front and
involved, including kicking balls of pee and poo across the room (in reality these were just coloured balls
representing this).
A Primary School student said.. "It was absolutely brilliant, I was so pleased to be picked to go to the front and
wear a mask and lo help judge who could make the best Play-Doh shape of the ugly animals. I've really enjoyed
the whole show and it was great fun. l also got out of learning about negative numbers for the morningl It wa5
great to do something different with school. I now think about ugly animals in a different way and want to save
Ihem alll Science is really funl.
With a teacher adding. It's just wonderful to have something like this to bring the children to, seeing them gel
really involved and engaged. STEM is something we focus a lot on in our school. Events like this help us to show
the children thal there are a variety of science careers out there for Ihem to look into. We are also studying
animals and humans and the relationships bel￿e¢n them, so this is really topical for us too.
ICanToo sessions:
September 2023 saw the third ICanToo cohort kick-off their year of inspirational, educational and unique events
whilst the second cohort {signed on in 2022) remain in the programme with their year of mentoring. Both cohorts
consist of ten students, from each of the four schools, selected through unreached potential.
Cockermouth School, Cockermouth
Netherhall School, Maryport
st Benedict's School, Whitehaven
West Lakes Academy, Egremont
Planned through volunteering members of React Engineering, events are organised for the students to attend
each half term, opening their horszons and increasing their interest in STEM. Inspira support the programme
ensuring each student signed on has been sUPPOrted and guided through one-to-one mentoring, helping to
achieve their true potential in STEM based subjects.
Since September 2023 the students have attended a number of events, ranging from local engineering business
Page 3

THE REACT FOUNDATION
TRUSTEES, REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achlevements and performance Icontinued)
talks. university visits and an out of county residential. In September 2023 the group attended an evening event,
whi¢h included a talk and demonstration of SPOT the robot dog from local business, Createc, and an
inspirational talk on engines and formula-1 engineering from ex-formula one engineer, Tim Brentall.
In November 2023, the students attended University of Central Lancaster's base I n West Cumbria. This evening
was hosted by the Medical SGience Department and the students took part in a number of interactive sessions
including an interactive Anatomage table session, performing medical procedures through VR headsets,
diagnosing and testing patients and a CPR session.
To finish 2023, in December the cohort attended an evening hosted by Forth Engineering, a local engineering
company. The event was split into tr￿0 evenings to hold all four schools, with them having a lour of their facilities,
including the largest wet test facility in the UK, and an inspirational talk by Mark Telford, Managing Director.
2024 was kicked off by a January evenl to visit Innovia in Workington. Here the students learned about the
Manufacturing processes behind making cnsp packets.
The three-day out of county residential held place in Easter 2024, at Manchester and Sheffield. The trip was
packed with as many inspirational, educational and unique activities as possible. The first day saw the students
travel to Manchester on the way they stopped for a tour at Manchester Airport, where we had a unique tour of the
Concorde by an ex-pilot. In the afternoon they attended the Science and Industry Museum. This included a tour,
and personalised activities for the students, to explore their STEM curiositie5.
The third cohort finished Iheir first year with an extremely bespoke trip hosted by RWE. The students were lucky
enough to attend a half day session in the May half term, which seen them go over the Solway Firth to get up
lose to the windfam1, some students were lucky enough to witness engineers changing a blade on one of the
wind turbines and witness a changeover of technicians. This day included an educational hand5-on session on
renewable energy and wind turbines.
The programme was made possible through a substantial funding pot, ¢urtesy of the Royal Academy of
Engineering, The Granada Foundation, Francis C Scott, Hayes Travel Foundation, Cumbria Community
Foundation and Hello Future.
The fourth cohort, again 40 students from Cockermouth School, Whitehaven Academy, Netherhall School and St
Benedict's, have now been recruited to start the programme in September 2024 wth the third Cohort returning for
their second year, and the first cohort finishing the programme. The third cohort attended an overnight residential
in July 2024 to welcome them to the programme and again integrate the group before the programme started.
This comprised of teambuilding activities including, canoeing in Coniston Water, archery and crate building.
Schools of the Future- University of Oxford Trip 2024
In March 2020, a trip to Oxford University was planned with local students that had taken part in the First Lego
League ¢ompetition. Unfortunately, due to the pandemic, this trip had to be cancelled. Good communication was
kept wilh contacts al the university, and this trip has been a success since.
As First Lego League competitions have been on hold due to the pandemic, The Foundation created a unique
project,. Engineers of the Future, Schools of Ihe Future. The idea was that the students involved with this project
would imagine, design and create their vision of their school in 50 years, lime. This project ran for 8 weeks,
concluding with a trip to Jesus College, Oxford University in March 2024, where the students would present their
projects to staff and students attending the university.
Following on from the huge success of the pilot trip and the subsequent 2023 trip, and the amazing feedback
from the schools involved, The React Foundation worked alongside Oxford University once again to bring this
project and trip to life again in 2024.
Again, 3 local schools were approached (Montreal School, St Joseph's School and St Patrick's School), and the
Page 4

THE REACT FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Achievements and perfomianGe (continued
project was 5UPPOrted at weekly session5 by 8 volunteers from The Foundation. The students designed their
schools and used robotic elements to bring this design to life. The participating students created a presentation
of their project lifecycle, 5howng how they came up with various ideas and how these ideas were put into place
for their final design.
A total of 30 students aged 8-10 years old and 12 supporting staff members and volunteers from The Foundation
attended the 3-day trip to Oxford University. Due to limited availability for rooms at Jesus College, some students
and staff members stayed at Queen's College across the campu5, and activities were split be￿￿en the 2
ampuses.
During their time at the University, students attended various lectures including.. How to think like an Oxford
student, a simple lecture on science and a hands on chemistry taster session lead by post grad students. The
attendees also immersed themselves in the city of Oxford with tours around the city and a visit to the local
museum. The trip was finished off with Ihe students presenting their projects to Oxford university students and
staff members.
Once again, the project and the visit to the university was a huge success, with nothing but positive feedback
coming from the students and staff attending. One staff member is quoted as Saying.. "The REACT clubs were
great and the children built real relationships with the staff - especially Jamesl The colleges and the tour of
Oxford was brilliant, but I think we would have liked even longer or seen some of the extra-curricula activities
Oxford students get up to in their spare time. I thought the science experiment Ihe children did was really cool,
because they don't get to do those in primary so it was a real unique experience for them.
With another teacher penning a thank you letter that stateted.. Can I please say on behalf of myself, the children
and parents we know that this trip would not go ahead without your amazing organisation skills and $0 we would
like to say A HUGE THANK YOU for all your hard work and kindness. Giving the children such an amazing
opportunity to set aspirations for life and experiences thal they will never forget.. fancy being able to write on their
CV .. I presented at Oxford University!1 AMAZING. Thank you."
The students also had kind words and prise about the trip and project as a whole, stating.. °When we went out
around Oxford it was fascinating to see all the different buildings and the purposes of them - like the biggest
library on Earthl Also, Queen's college was really good - especially the food - but I personally think the rooms
were hauntedl"
This year's trip has cemented what an amazing programme this is and will endeavour to make this trip happen
again next year to have an impact on even more students. Good communication has once again been
maintained with contacts at Oxford University with this in mind.
Supporting others
The Foundation aim to help and support others where possible. We were approached by The IMechE to support
their annual education event this year which was space themed. They required administrative help to engage
and encourage schools to attend.
Website & social networking
The website, X, Facebook and Instsgram continue to be used to promote the Foundation and other
sciencelengineering activities in the local area.
Future Foundation Initiatives
Continuation of the Bursary & Post 16 Awards
The awards have been reviewed by the Trustees. The Foundation will continue to make awards to University and
Post 16 students as before. The application process for the Bursary awards changed at the start of 2019.
Page 5

THE REACT FOUNDATION
TRUSTEES, REPORT {CONTINUED
FOR THE YEAR ENDED 31 AUGUST 2024
Achlevements and performance (continued)
Applications are now accepted during Spring and Summer whilst the students are in Year 12. A promise will be
made when students commence Year 13 in September, with the monetary award being made the following year.
We will follow sult wth this process.
Continuation of Annual REACT Foundation Science & Englneerlng Show
The Science Shows in their current format have been running since 2007, however the 2021 shows had to lake
a different format due lo COVID-19, and the social distancing restrictions nationally. With the Science Museum,
London unable to support the online shows during the restrictions, Simon Watt was approached and delivered
these shows for us.
We hope to continue our partnership with The Science Museum and Simon Watt next year, now restrictions
have eased, and the live shows have been back and a huge success this year.
Contlnuation of the ICanToo Programme
The fourth cohort of ICanToo are due to kick-off their year programme in September 2024, where a range of
inspirational, educational and unique events are planned, alongside the continual support from Inspira. The 2023
cohort will be starting their final year on the programme, with the guidance and mentoring sessions being the
forefront.
The Trustees continue to follow up on ideas for funding the project and continue to work alongside Inspira to
deliver the best possible programme.
Partners and Fundlng
IMechE West Cumbria will continue to support a student wilh their university bursary running alongside our own
initiative. Our ties with IMechE West Cumbria conlinue to grow as we work alongside one another on other
initiatives.
Support for the Science Shows has been received from RWE.
Mentoring support and guidance for the students on the ICanToo scheme has been provided by Inspira Cumbria
and will continue to do so.
Financlal review
Financial rlsk review
The trustees actively review the major risk which the charity faces on a regular basis and believe that maintaining
reserves at current levels, combined with an annual review of the controls over key financial systems, will provide
sufficient resources in the event of adverse conditions. The trustees have also examined other operational and
business risks faced by the charity and confirm that they have established systems to mitigate the significant
risk5.
The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are
in pla¢e to mitigate exposure to the major risks.
b. ReseNes policy
The trustees have reviewed the level of current unrestricted reserves and consider them adaquate to meet the
current charitable expenditure commitments.
Page 6

THE REACT FOUNDATION
TRUSTEES, REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2024
strudure, governance and management
a. Constitution
The React Foundation Is a registered charity, number 1104518, and 15 constitu18d under a Trust deed.
b. Methods of appointment or electlon of Trusteès
The management of the Charity is the responsibility of the Trustees who are elecled and co-opted under the
terms of the TrL5sI deed.
Statement of Trustees, responslbilities
The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance wSlh
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable lo charities in England & Wales requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the slate of affairs of the Charity and of ils incoming
resources and application ol resources, including ils income and expenditure, for that p8riod. In preparing these
financial statements, the Trustees are required to..
select suitable accounting policies 8nd then apply them consislenlly.,
observe the methods and principles of the Charitiès SORP IFRS 102);
make judgments and accounting estimates that are reasonable and prudent..
slate whether applicable UK Accounting Standards IFRS 1021 have b8en followed, subject to any material
departures disclosed and explained in the financial slalemenls;
prepare the financial 51atemenls on the going concern basis unless it is inappropriate lo presume that the
Charity will continue in businèss.
The Trustees are responsible for keeping adequate accounting records that are Sufficient lo show and explain
the Charity's transactions and disc105e with reasonable accuracy at any lime the financial p051tion of the Charity
and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hence for taking r6asonabl8 Steps for the prevention and detection of
fraud and other irregularities.
vedb
order of the members of the board of Trustees and signed on their behalf by-.
Mr T P Woolagttan
(Trustee)
Date: 1 May 2025
Page 7

THE REACT FOUNDATION
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
Independent examiner's report to the Trustees of The React Foundation ('the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August
2024.
Responsibilities and basls of report
As the Trustees ofthe Charity you are responsible for the preparation oflhe accounts in accordance with the
requirements of the Charities Act 20111'the 2011 Act,).
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and
in carrying out my examination I have followed the applicable Directions given by the Charity Commission under
section 145{5)(b) of the 2011 Act.
Independent examlner's ststem8nt
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their aGGounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 in
preference to the Accounting and Reporting by Charities.. Slatement of Recommended Practice issued on 1 April
2005 which is referred to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connedion with the
examination giving me cause to believe that in any material respect.
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or
the accounts do not accord with those records., or
the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities {Accounts and Reports) Regulations 2008 other Ihan any requirement
that the accounts give a 'true and fair, view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Report5) Regulations 2008. My work has been undertaken so that I might State to the Charity's
Trustees those matters l am required lo slate to them in an Independent examiner's report and for no other
purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other than the
Charity and Ihe Charity's Trustees as a body, for my work or for this report.
Signed..
Dated.. 16 May 2025
Steven Kirkbride BFP FCA ATT MAAT
Armstrong Watson LLP- Workington
Page 8

THE REACT FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
Unrestricted
funds
2024
Restricted
fund$
2024
Total
funds
2024
Total
runds
2023
Note
Income from:
Donations and legacies
Investments
29,000
2,084
14,000
43,000
2,084
20, 799
910
Total income
31,084
14,000
45,084
21,709
Expenditure on:
Charitable activities
10,980
21,944
32,924
35,200
Total expendituro
10,980
21,944
32,924
35,200
Net incomellexpendlture)
Transfers be￿een funds
20,104
17,944)
17,9441
7,944
12,160
{13,491)
Net movement In funds
12,160
12,160
(13,491)
Recon¢lllation of funds:
Total funds brought forward
Net movement in funds
80,169
12,160
80,169
12.160
93,660
(13,491)
Total funds carried forward
92,329
92,329
80,169
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 11 to 17 form part ofthese financial statements.
Page 9

THE REACT FOUNDATION
qALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
Current assets
Débtors
Cash at bank and in hand
5, 000
75,769
92,329
92,329
80,169
Net current assets
92,329
80,169
Tolal assets lèss current liabilities
92,329
80,169
Net assets ex¢ludlng penslon asset
92,329
80,169
Total net assets
92,329
80.169
Charlty funds
Restricted funds
Unreslricled funds
92,329
80,169
Total funds
92,329
80.169
efi
ncial statements wère approved and aulhorised for issue by the Trustees and signed on their behalf by..
MT T P Woolaghan
{Trusteel
Date.. 1 May 2025
The notes on pages 1110 17 form parl of these financial slalemenls.
Page 10

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
General information
The React Foundation is an unincorporated charity registered in England, Wales. The principal address is
Phoenix Court, Earl Street, Cleator Moor, Cumbria, CA25 SAU.
Accounting policies
2.1 Basis of preparation of tlnancial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fairf view and have departed from
the Charities (Account5 and Reports) Regulations 2008 only to the extent required to provide a 'true
and fair, view. This departure has involved following the Charities SORP (FRS 102) published in
October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
The React Foundation meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless Othe￿Ise stated in the
relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
2.3 Expenditure
Expenditure is recognised once there is a legal or Constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The Gosts
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that aclivity. Shared cost5 which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis Gonsistent with
the use of resources. Central staff ¢osts are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset'5 use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page11

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting policies {continued)
2.4 Taxatlon
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable Gompany for UK corporation lax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received wthin categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.5 Debtors
Trade and other debtors are re¢ognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and In hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposil or similar account.
2.7 Flnancial Instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised al transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.8 Fund accountlng
General funds are unrestricted funds whiGh are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Reslricted funds are funds which are to be used in accordance with Specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Income from donations and legacles
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Donation5 and gifts
29,000
14,000
43,000
Page 12

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
InGome from donations and legacies (continued)
Unrestncted
funds
2023
Restricted
funds
2023
Total
funds
2023
Donations and gifts
13,072
7, 727
20, 799
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Interest receivable
2,084
2,084
Unrestricted
funds
2023
Total
funds
2023
Interest receivable
910
910
Analysis ol expenditure by actlvltles
Actlvities
undertaken
directly
2024
Total
fund5
2024
Activities
32,924
32,924
Activities
undertaken
directly
2023
Total
funds
2023
Activities
35,200
35,200
Page 13

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Analysis of expenditure by activitles (continued)
Analysis of direct costs
Total
funds
2024
Activities
2024
Awards to students
Science and engineering events
Accommodation
Insurance
Travel
5,804
212
11,046
647
6,330
8,176
1,709
5,804
212
11,046
647
5,330
8,176
1,709
Activities and tours
Room and equipment hire
32,924
32,924
Total
funds
2023
Activities
2023
Awards to students
Science and engineering events
Promotion and web-site costs
Accommodation
Insurance
Travel
Activities and tours
Room and equipment hire
6,721
216
6,721
216
162
162
11,190
607
11,190
607
3,529
11,041
1, 734
3, 529
11,041
1, 734
35,200
35,200
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During Ihe year ended 31 August 2024, no Trustee expenses have been incurred (2023 - £NIL).
Page 14

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENOED 31 AUGUST 2024
D8btors
2024
2023
Due within one year
Trade debtors
5,000
5,000
Statement of funds
Statement of funds - current year
Balance at 1
Septemb8r
2023
Balance at
31 August
2024
Transfers
inlout
Income Expendlture
Unrestrlcted funds
General Funds- all funds
80,169
31,084
110,980)
17,944
92,329
R88tricted funds
I Can Too Project
14,000
121,944)
7,944
Total of funds
80,169
45,084
(32,924)
92,329
Statement of funds - prior year
Balance al
1 September
2022
Balance at
31 August
2023
Transfers
in/out
Income Expenditure
Unrestrlcted funds
General Funds- all funds
90,363
13,982
(11,421)
(12, 755)
80,169
Restricted funds
I Can Too Project
3,297
7, 727
(23, 779)
12,755
Total of funds
93, 660
21,709
(35,200)
80,169
Page 15

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Summary offunds
Summary of funds - current year
Balance at 1
September
2023
Balance at
31 August
2024
Transfers
inlout
Income Expendlture
General funds
Restricted funds
80,169
31,084
14,000
(10,980)
121,944)
17,944)
7,944
92.329
80,169
45,084
(32,924)
92,329
Summary of funds - prlor year
Balance at
1 September
2022
Balance al
31 Augusl
2023
Transfers
in/out
Income Expenditure
General funds
Restricted funds
90,363
3,297
13,982
7,727
(11,421J
(23, 779)
(12, 755)
12, 755
80, 169
93,660
21,709
(35, 200)
80, 169
10. Analysls of net assets between funds
Analysis of net assets between funds - current period
Unrestrlcted
funds
2024
Total
funds
2024
Current assets
92,329
92,329
Total
92,329
92,329
Page 16

THE REACT FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. Analysis of net assets between funds Icontlnued)
Analysis of net assets between funds - prior perlod
Unrestricted
funds
2023
Total
funds
2023
Current assets
80,169
80, 169
Total
80,169
80, 169
11. Related party transactions
The Charity has not entered into any related paty Iransa¢tion during the year, nor are there any
outstanding balances owing between related parties and the Charity at 31 August 2024.
Page 17