Chartty number: 1104518 THE REACT FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Armstrongwatson. Accountants, Business & Financial Advisers
THE REACT FOUNDATION CONTENTS Page Reference and administrative detsils of the Charity. its Trustees and advisers Trustses. report Independent examinerfs report Statsment of financial activities Balance sheet 10 Notes to the financial statsments
THE REACT FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 Twsts8S Mr T P Woolaghan. Trustee Mr M PriesUey, Trustee Mr T R Durran, Trustee Mr l Lupton, Trustee Ms K Daniels, Trustee Mr K Hannah. Trustee Mr R Smith, Trustee Miss K Johnston, Twstee Ms J Perknn$, Trustee (resigned 28 August 20251 Mr P A Redfem. Trustee lappjinted 13 May 20251 Charty registered number 1104518 Principal office The Flaxworks Old Kangol Road Cleator Cumbria CA23 3FA Accountants Arrnstrong Watson LLP Carfeton House 136 Gray Street Workinglon Cymbria CA14 2LU Bankers Cumberland Building Swety 52 High Street Clealor Moor Cumbria CA25 SAA Page 1
THE REACT FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees present their annual report togetherwih the finanaal statements of the Charity for the 1 September 2024 to 31 August 2025. Objectives and activities a. Policies and obje¢ti¥es The charitable trust is constf(uted by a dedarion of trust dated 25 May 2004. The objects of the trust is to advance the study of engineering in the West Cum1.3 area by prowding finanaal assistance to students undertaking university study in engineering or a related subje¢t. The policy of the trustees is to develop streams of new funding for the charity and to implement procedures to idenbfy potentsal beneficiaries olthe fvnding. The day lo 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 studertts undertaking untversrty study in engineering, or a related subject. Achievements and perfoThance a. Main achiovem¢nts of the Charity University Award In September 2024, The React Foundation held it's annual awards evening ¢ombined Promise Evening for the wnning 2024r2025 students. Cheques were handed over to the wnning 2024 Students at Whrtehaven Golf Club in September. Keelan McKeown (St Benedict's School) who was promised the 2024 bursary award decided to defer his university place for a year, therefore he will collect his bursary award * the 2025 awar(Is evening. Alfie Taylor {St Benedict's School) picked up the runners up award. Rhys Jackson. also from St Benedict's receive(1 hi5 winning cheque from the IMechE. After much deliberation, The Trustees decided to award the 2025 unrversity aNrdrds to Alex and Toby Cooper from Cockemiouth School vtho 11 splyt the award, wth Millom student Jessica Autie also being awarded runner up prize. The IMechE reviewed relevant applicants for their avrard and decided to award their 2025 award to Erin Cleeton from Workington Academy. The above students were promised these awards in September 2024, and wll re¢etve their checks in September 2025. should they continue lo meet the criteria for the award. The Post 16 Awards The 9 2024 winning Post 16 award students. also pi(ed up their cheques at The Golf Club in September. The nners were". Rowan Johnstone (St Benedict's School), Isobell Hood (St Benedict's School), Edward Smith ICoGkermoulh School), Eve Jennings Icockemiouth School). LaUn Glynn (Whrtehaven Academy), Tyler Huddart (Netherhall School), Chadie Dean5 (Wesuakes Academy). Cartjin Amber Sands IUTCI and JaGk Procter (Keswck School). Due lo some confusion around eligibilty ages within the 2025 campaign, we received a number of applications frorn current Y11 students. AfteT con)Iming they were gcM)d candidates with teaching staff, the Irustees decided to award 3 stsjdenls, cheques this year." alongside the above winners. They were Ellie Foxwell IUTCI. Jackson Borrtswdale IWestklake5 ArAdemy), Ben Taylor {Netherhalll. Page 2
THE REACT FOUNDATION TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and perforniance Icontinuedl The Trustees reviewed all appli(2tions and awarded the following students the 2025 Post 16 awards." christopher Fawkes Icockemouth School), Daisy Smith Icockemiouth School), Jack Rudd (Whitehaven Acadernyl and Sophia Florence Parkinson {Keswick School). The above students attended the Promise Evening in September 2025 where they received a letter of promise for the Cheques nexi year. The tum out for Ihe evening was great, with teaching staff ac¢epting the letters on behalf of a couple of students that were unable to attend. Annual Science & Engineering Shows 2024 The REACT FOura.0 Annual Sryence & Engineering Show vtas laund)ed in late September 2007 offering the opportunity fof every Year 6 child in Wesl Cumbria to attend an exating science and engineering show. Due lo the 5ucce5s of the Year 6 shows a secondary show was introduced in September 2010 to year 9 students and this wa5 exiended to include Year 7 & 8 in 2013. The primary shows are also attended by Year 5 students. Continued communication vms had vthh the Simon Watt came up to Cumbria in 2021, 2022, 2023 to present the shows. Simon was able to commrt lo the shows but again 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 conb.nued funding for the 2024 shows, vAth RWE sponsoring for the 16th consecutive year. KS2 Primary Shows: L¢¢k up Simon Watt came up to Cumbria to present his Look up Roadshow, an inleracb.ve showthat introduced the Students to explore some of the science behind space exploration. Which planet is hottest? Which would float in swmming pool? Which is the most studied? And just how much space is in space? The live show to see what experiments yOLt can recreate at home or school and learn about what you Can see if you only look up. The shows were catered toward5 KS2 studerts over 3 days.. 2 at Lakes College and 1 at Cleator Moor Civic Hall and then on lo Millom. During the roadshow. Simon perfomied 8 shows to around 64 schools and hundreds of students. The feedback. yet again. was fantastic- all the students loving Simon's energeb"c presentation style., wth many students saying how much they loved the shows on their exrt. The Foundation aim to gel the lull 2-Y programme of 5hovts back up and running, so KS3 students can once again enjoy the show5, and more students have the eduGab"on impa¢1 of the shows. ICanToo sesSIOIIS- September 2024 saw the second ICanToo cohort kick-off their year of inspith"onal, educab.onal and unique events whilst the second cohort Isigned on in 2023} maIn in the programme wth their year of mentoring. Both cohorts consist of ten students, from each of the four schools, selected through naChed potentsal. Cockermouth School, Cockermouth Netherhall School, Maryport Sl Benedict's School. Whitehaven Whrtehaven Academy, Whitehaven Planned through volunteering members of React Engilleenng. events are organised for the students to attend each half term, opening their horizon5 and In¢8$1n9 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 potentsal in STEM based subj'ects. Page 3
THE REACT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 A¢hi•v•ments and performance (continued) Since September 2024 the students have attended a number of events. ranging from local engineering business talks, universty visits and an out of county residenkn"al. In September 2024 the group attended an evening event. which included a talk from Ewan Frost- PennÈngton about the importance of sustainabilty and how they are implementing sustainable measures across Mijncaster Casue. In November. our cohort had an incredible day at the Engineering Centre of Excellence, the students got lo experience delonth.ng bombs using VR. ty'ng drones. buitding rockets and corknlling robot dogs. In January 2025, the students attended Universty of Central Lancaslerfs base in Wesl Cumbria. This wa5 hosted by the Medical Science Department, and the students took part in a number of interactive sessions including an interactive Analomage table se55ion, performing medical procedures through VR headsets. diagnosing and testing patients and a CPR session. The threaY out of county residential held place in Easter 2025, in Glasgow. The trip was packed with as many inspirational, educatsonal and unique aclivrties as possible. The first day saw the students travel to Glasgow, where they explored the botani¢al gardens. learning about all the drtrerent types of plants, before heading to the university of Glasgow. On their second day in Glasgow the students visited the Glasgow College Riverside Carnpus, %theTe they got lo experience simulators for naub.cal training. On the third and final day the cohort V1511ed the Falkirk Wheel and the Kdpies wthere they leamt about the design and engineering that was required lo build these stTUCtures. The third cohort finished their first year an extremety unique trip hosted by RWE. The students were lucky enough to attend a half-day session in the May hall term. which seen them allowed to go over the Solway Firth to get up close to the wndfami. This day induded an edUcab"cal hands-on se55ion on renewable energy and wnd turbines. The programme was made possible through a substanbal funding pot, curtesy of Cumbria Community Foundab"on. Schools of the Futur¢- University of Oxford Trip 2025 In March 2020, a trip to Oxford Universty planned local students that had taken part in the First Lego League competition. Unfortur¢ately, due to the pandemic. this trip had to be cancelled. Good communication was kept with contacts at the university, and this trip has been a SU$$ 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 the Future. The idea was that the students involved wth this project would imagine. design and create theii wsion of their school in SO years, ts'me. This project ran for 8 weeks. concluding wth a trip to Jesus College. Oxford Univeryty in March 2025. vthere the students would present their projects to staff and students attending the universty- Following on from the huge success of the pilot trip and the 2023 & 2024 trips, and the amazing feedback from the schools involved, The React Foundats"on worked alongside Oxford Universty once again lo bring thi5 project and trip lo lrfe again in 2025. Again, 3 local schools were approached Imontreal School, St Joseph's School and St Patrick's School), and the project was supported at weekly sessions by 8 volunteer5 from The Foundation, and due to continued demand. this year The Foundation invited Frizington Sthool to join the tn"p. The Students designed their schools using msxed materials to bring their designs to live. The participating students ue*ed a pre5enlab.on of their project lifecycle. showing how they came up with various ideas and how these ideas were put into place for their final design. A total of 31 students aged 8-10 years old and 10 suppo"n9 stsff members and volunteers from The Foundation attended the 3-day trip to Oxford Universsty. Page 4
THE REACT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and performance Ic¢xrtinued) iDuring their bme at the University, sludents attended various lecture5 induding- how incredible people are, thinking skills games, The attendees also immersed themselves in the rity of Oxford wth tours around the city and a visit to the local museum. The trip was finished off with the slvdenls senting their projects to Oxford university students and staff members. Once again, the project and the w5rt 10 the univer5ty vtss a huge $u¢cess, with nothing but posf(ive feedback coming from the students and stsff attendrng. Annette Savage. headteacher at St Joseph's, said the program was an experience that would stay children throughout their lives. This yearfs trip has once again cemented vthat an amazing programme this is and will endeavour to rnake this trip happen again next year to have an impact on even more students. Good communication has once again been maintsined wth LxJnla¢ts al Oxford Universty this in mind. SuppOrng ¢thers The Foundation aim to help and support others vthere possÈble. This year. The React Foundation once again support The First Lego League to help broaden parb"cipation in the project again, after a dip In numbers due lo the hiatus of the project from the COWD pandemic. The Foundation provided volunteers for even15 and adminislralion support to 5UPPOrt s¢hools getting involved in the project. The React Foundabon created 'The Works. inrtialive lo allow l<)cal ¢ompanies a thance to pacipate in their own competib.on and their fee for this wll go towards supporting SChls, enty fees and getting some Lego and iPad kits to give lo schools. Websits & $ocial networking The website, X, Facebook and Instsgram continue to be used to promote the Foundation and other saencelengineering actiwties in the local area. Future Foundation Initiative5 Continuation of the Bursary & Post 16 Awards The awards have been rewewed by the Trustees. The Foundation will continue to make awaids to University and Post 16 students as before. The applicats.on process for the Bursary awards changed at the start of 2019. Applications are now accepted during Spring and Summer whilst the students are in Year 12. A promise wll be made when students commence Yeai 13 in September. th the monelary award being made the followng year. We wll follow suit with this process. Continuation of Annual REACT Foundation Science & Engineering Show The Science Shows in their current format have been running since 2007, however the 2021 shows had to take a different fomiat due to COV119, and the social distsncing restn'¢tions natsonally. With the Science Museum, London unable to support the online show5 during the restricb"ons. Simon Watt vrds approached and delivered these shows for us. We hope to continue our partnership with Simon Watt vthilst exp4oring options for partnerships that can fulfil the 112 week prograrnme. Future of thè ICanToo Programme Due to rising c05t5 associated wth the ICanToo proje¢t (travel and accommodation etcl, and f¥Jnding routes becoming harder to source. the drfficult decision was made by the tnjstees to halt the ICanToo project in it's current foim in May 2025. The tDJStees agreed to look at alternats.ve programmes that filled the age gap that was now left wth the project stopping. Page 5
THE REACT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Achievements and perfornMn¢e l¢ontlnuedl Partnets and Funding IMechE West Cltrnbria wll conkn.nue to support a student vmth their university bursary running alongside our own initiative. Our ties wrth IMechE West Cumbria continue to grow as we work alongside one another on other initsatives. Support for the S¢ien¢e Show5 has been received from RWE. Mentoring support and guidan forthe students on the ICanToo scheme has been prowded by Inspira Cumbria. Flnancial review a. Financial rl$k reyiew The Iruslees actively review the major risk ¥A)ich the chanty faces on a regular basis and believe that maintaining reserves at current levels, combined an annual review of the controls over key financial systems, wll provide sufficient $OurCeS in the event of adverse conditions. The tJustees have also examined other operational and business risks faced by the charity and confimi Ihat they have established systems to mitigate the significant risks. The trustees have assessed the major risks to which the Charity is exposed. and a satisfied that Systems are in place to mitigate exposu to the major risks. b. R8s•Thès poll¢y The Foundation has funds available to meet all current and flrture planned commitments. A reserve policy wll be developed during the coming year to assist finanual management of ongoing activities and strategic reserves for the chaTty. structure. governancè and management a. Constltutton The React Foundation is a gIstered charrty. number 1104518, and is constituted under a TTU5t deed. b. Mèthods of appointment or election of Trustses The rnanagement of the Chanty is the sponbI1rtY of the Trustees who are de¢ted and ctropled under the tem5 of the Trust deed. Page 6
THE REACT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Stalemeni of Trustees. responsibilities The Trustees are responsible loi prepafing Ime Trustees, report and the finanoal statements In accoidan¢e Miith applicable law and United Kingdow. Amxjnting Standards Iuiiitecl Kingdom Generally A¢¢epted Accoufjliiig Practice). The law applicable lo charities In Ewland & Wales iequifes the Trustees to prepare Iinancial stalements for ea¢h financial Nvhich give a trL&e an($ fair ol the stale of affairs ol the Charity and of Its incoming resources and application ol resourees. including its income and expenditure. for that period. In preparing these Iinancial statements. the Trustee5 are required to." select suitable acc(KJnling kK>liues and then apply them consistently.. observe the methods and principles of the CharTties SORP IFRS 1021". make iudgmeots and a¢¢ouiitsn9 estimates that ale reasonable aiid prudent". slate whether applicable UK Accounting Standards IFRS 1021 have been folluwed. suoiecl lo any fflaterial departiires disclosed and explained In the Iinancial statements.. prepare the finanaal slalemenls on the gDiiig concefn basis unless it is Inappropriate lo presume that the Charity will conlinue in business. The Trustees are responsible for keeping adeouale accounting reoyds that are sufficient to show and exp1aii) the Charity s transacl10ns and disdose *Vlth reasonable accuiacy at any lime the finan¢ial positioii ol Ihe Charity and enable them lo ensure that the finan¢i31 stalements comply with Ihe Charities Act 2011. the Charity (Accounts and Reports) Regulatiun$ 2008 anij the WOVlSH3ns of the Trust eeed. They are also responsible for safeguarding the assets of the Charrty an(J hence for taking reasonable steps lor the prevention and detectlDn of fraud and other irregularilies_ pp vedb order of ihe rnembers of the ird ol Trustees and signed on their l)ehalf by.. Mr T P Woolaghan (Trusteel Date..
THE REACT FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025 Independent exarninerfs report to th¢ Trts5tees of The React Foundation (Ihe Charity'l I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2025. Responsibilities and ba$1$ of rep¢rt As the Trustees of the Charity you are responsibte for the preparab.on of the acLounts in accordance the requirnents of the Charities Act 2011 Ilhe 201 t A¢t'l. I report in respect of my examinatson of the chath5 accoLTrnts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the apICable Directions given by the Chartty Commission under section 145{5)Ib) of the 2011 A¢t. Ind¢pendent examinerfs statement Your attention is drnvm to the fact th the Chanty has prepared the accounts in accordance wth Accounting and Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their a¢courtt5 in accordance wth the Financial Reporting Standaal aPFdiGable in the UK and Republic of Ireland IFRS 1021 in prefefence lo the Accounting and Reporting by Charities." Ststement of Recommended Practice issued on 1 April 2005 which is TefeTred lo in the extant regulations bLrt has l)een withdrawn. l understand that this has been done in order for the accounts to provide a true and fair wew in accordance with the Generally Accepted Accounting PraGb"ce effectsve for reporb.ng periods beginning on or after l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe thal in any material respect. accounting records were not kept in respect of the Chartty a5 required by section 130 of the 2011 Act,. or the accounts do not accord wth those records., or the accounts do not comply ¥wth the applicable requiremer¢ts concerning the fomi and ¢ontenl of accounts set out in the Chanties IA¢counts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf wew wthich is not a matter considered as part of an independent examination. I have no concems and have come across no other matter5 in connection wth the examinion to which attents.on should be drawn in this report in orijer lo enable a Proper understanding of the ac¢out7ts to be aChed. This report is made solely to the Chantys Trustees. as a body, in accordance Part 4 of the Charities (Accounts and Reports) Regulations 2008. My Vrk has been undertaken so that I might slate to the Charity5 Trustees those matters l am reqUId to stste lo them in an Independent examiner's report and for no other purpose. To the fullest exient pemitted by law. I do not apt or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report. Signed.. Dated.. Steven KIbride BFP FCA ATT MMT Armstrong Walson LLP- Workington Page 8
THE REACT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 Unvestricted funds 2025 Restricted fvnds 2025 Total funds 2025 Tol81 runds 2024 Income from: Donations and legacies Investrnents 26.820 2,262 5.729 32.549 2.262 43,000 2,084 Totsl Income 29.082 5.729 34.811 45,Q84 Expendtture on: Charitable activities 9.$94 39.600 49,194 32.924 Total expenditure 9.594 39,600 49,194 32,924 Nèt incom•llexpenditure) Transfers befvleen funds 19.488 (33.8711 {33,871) 33.871 114.3831 12, 160 Net movement in funds {14.3831 14.3831 12, 160 Reconciliation of funds- Total funds brought forward Net movement in fvnds 92.329 (14.3831 92,329 {14,3831 80,169 12, 160 Totsl funds carried forward 77,946 77,946 92,329 The Statement of financial ath"V"eS indudes all gains and k)sses recognised in the year. The notes on pages 11 to 17 fomi part of these finanal slatemenls. Page 9
THE REACT FOUNDATION BALANCE StlEE I AS AT 31 AUGUST 202? 2025 20?4 Note Current assets Cash at bank and In han 77.946 92.329 77.946 92.329 Current liabilities Net current assets 17,Y46 92.329 Total assets lèss curTent liabilities 77,946 92.329 Nei assets excluding pension asset 77.946 92.329 Total net assets 77.946 92.329 Charity funds Resiri¢le# flinds Uiiresiricted funds 77.946 92.329 Total funds Tne fin ,cial stateillenls Yeie apwotrc and tsLJ:;.OTised tor issue bb" It.f* Tildslees ano signed on their behali fjy". Mr T P Woolaghan !Ti'usleei Dale. Thp notes on pages 1 I to 17 lifin parl ol ;¥ese fiiiancial 51atL)meiits.
THE REACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 General information The React Foundation is an unincorporated charity registered in England. Wales. The prinupal add$$ is The Flaxworks, Old Kangol Road. Cleator. Cumbria, CA23 3FA. Accounting policies 2.1 Basis of prepaTation offinan¢ial ststsm¢nts The financial statements have been prepared in accordance V4Tih the Charitie5 SORP IFRS 1021- Accounting and Repon9 by Charities.. Statement of Recommended Pracb"ce appli¢able to ¢harilies preparing their accounts in accordance the Financial Reports"ng Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Repo.n9 Standard applicable in the UK and Republic of Ireland IFRS 1021 arHI the Chartties Act 2011. The financtal statements have been Prepared to gwe a Irue and faiv Mew and have departed from the Charities (Accounts and Reports) Regulation$ 2008 onty to the extent required lo provide a Irue and fair, view. Thi5 departure has inwlved following the Chartts'es SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended PTacb"ce effeGb"ve from l April 2005 which has since been wthdrawn. The React Foundation meets the definitson of a public benefft entrty under FRS 102. Assets and liabilities are initially recognised at historical cost or 1ransacb.on value unless othetwse stated in the Televant accounting pc4icy. 2.2 Income Atl incorne is recognised once the Charty has entiuement to the income. it is probable that the in¢ome wll be CeiVed and the amount of income receivable can be measured reliably. 2.3 Expanditure 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 beneffts will be required in settlement and the amount of the obligation can be measured rdiably. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, induding 5UPPOrt cos15 involved in undertaking each activty. Direct costs attributable to a single activity are allocated directly lo that activity- Shad ¢osts which contribute to more than one activity and support costs which are not attributable to a single actiwty are apportioned befvleen those acts"vtb"e5 on a basis consistent wlh the use of resources. Central staff costs are allocated on the basis of time spent, and depreciats'on charges allocated on the portion of the asset's use. Expenditure on charitsble acb"wb"es 15 incurd on diredy undertaknng the activities sthich fvrther the Charitys objectwes, as v*ll as any assoaated support costs. All expenditure is indusNe of irrecoverable VAT. 2.4 Taxation The Charrty is csIdere(l to pass the tests set oul in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporaton tsx purposes. A¢cordingly. the Charity is potentialty exempt from taxation in respect of income or ¢apital gains received wthin categories covered by Chapter 3 Part 11 of the Corporalign 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 putposes. Page11
THE REACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poli¢i¢$ l¢ontlnued) 2.5 Cash at bank and in hand Cash al bank and in hand includes cash and short-tem) highty liquid 1fttments with a Short maturity of the month5 or Ivss from the date of acqUiSOn or opening of the deposit or similar account. 2.6 Financlal instruments The Charity onty has financial assets and finanaal liabilities of a kind that qualify as basic financial instruments. Basic finaft¢bal instruments are inrtialty Tecognised at transaction value and subsequently measured at their settlement value with the exception of bank loan$ vthich a subsequently measured at amorbsed cost using the effecb.ve interest method. 2.7 Fund accounting General funds are unrestricted funds Ithich are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and thich have not been designated for other purptsses. Restricted funds a funds which are to be used in accordance vAth 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 specffic fvnd. The aim and use of each restricted fund is set out in the notes to the finanual stslements. Investment income, gains and losses are allocated to the appropriate fund. Income from donation$ and legacie5 Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Donations and grfts 26,820 5.729 32.S49 Unrestiicted funds 2024 Restricted funds 2024 Tolal funds 2024 Donations and gtft5 29,CXXI 14,000 43,000 Investment incomè Unrestricted funds 2025 Total funds 2025 Interest rerAvable 2,262 2.262 Page 12
THE REACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Investment Incomè (continued) Unfes(rled funds 2024 Total funds 2024 Inte$t receivable 2.084 2,084 Analysis of 8xnditUre by activities Activitie5 undertaken directly 2025 Total funds 2025 A¢tivitie$ 49.194 49.194 Actwities undertaken diGtlY 2024 Total funds 2024 Active$ 32,924 32,924 Page 13
THE REACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 202S Anatysis of expenditure by activities {¢ontlnuedl Analysls of direct costs Totsl funds 2025 Activities 2025 Awards to students Science and engineering events Promots"on and WesIte costs Ac¢ommodats"on Insurance Travel 4.653 13 4.653 13 467 467 4,385 587 4.385 587 5,889 2,653 1,536 11.090 17,921 5,889 2,653 1,536 11.090 17.921 Activities and tours Roorn and equipment hire Mentoring First lego league costs 49,194 49.194 Total funds 2024 2024 Awards to students Science and engineering everts Accommodation Insurance Travel 5,804 212 11,046 647 5,804 212 11,046 647 5,330 8,176 1, 709 5.330 8,176 1, 709 Activities and tOUfS Room and equipment hire 32,924 32.924 Tru$ts¢s' remunerntion and expenses During the year, no Trustees received arry remuneration or other beneffts (2024 - £NILJ. During the year ended 31 AugLtst 2025. no TnJ5tee expenses have been incurred (2024 - £NIL?. Page 14
THE REACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Statement of funds ststèment of funds - current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expenditure Unrestricted funds General Funils- all fvnds 92.329 29.082 {9,$941 133.871) 77,946 Re5tr1¢t¢d funds I Can Too Project First Lego League 121.679) 117.921) 21.679 12,192 5.729 5.729 139,600) 33.871 Total of funds 92,329 34.811 149.1941 77.946 statement of funds- prlor year Balajryce at I September 2023 Balance al 31 August 2024 Transfe in/oul Inme Expendfture Unrestricted funds General Funds - all fvn¢Js 80,169 31,084 (10,980) (7.944) 92,329 Restricted funds I Can Too Proje 14.oc f21,944J 7,944 Total of funds 80. 169 45,084 f32,924J 92,329 Page 15
THE REACT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Summary of funds Summary of fvnd$ - Current year Balance at 1 September 2024 Balance at 31 August 2025 Transfers inlout Income Expènditure General funds Restricted lunds 92,329 29.082 5.729 19,5941 139.6001 {33.8711 33.871 77.946 92.329 34,811 149,1941 77,946 Summary of funds - prior year Balan at I September 2023 Balance al 31 August 2024 TTansfeTS in/oul Incon7e Expenditu General fijnds Restricted funds 80,169 31.084 14.000 (10,980) (21.944) (7.944) 7.944 92,329 80.169 45.084 (32.924) 92,329 Analysis of net assets beten funds Analysi$ of net a55ets between funds - currnnl year Unrestricted funds 2025 Total funds 2025 Cuent assets 77,946 77,946 Total 77,946 77,946 Anatysis of net assgts bèiwn lund5- prior year uns11Y¢led 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 2025 10. Related party trnn$actions During the year, the charity received a donation of £5.000 P024- £5.0001 from React Engineering Limited. React Engineering Limrted is consideFe<l a lated paty due to the presence of common trusteesldirectors befvRen the IVK) entÉties. I transactions were conducted on nrymal temis and there were no outstanding balances at the reporting date {2024- £NILJ. Page 17