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~~Quest For Learning~~
Contents of the Financial Statements
~~for the Year Ended 31 July 2025~~
| Page | |||
|---|---|---|---|
| Report oftheTrustees | 1 | to | 8 |
| Independent Examiner's Report | 9 | ||
| Statement of Financial Activities | 10 | ||
| Balance Sheet | 11 | to | 12 |
| Notes to the Financial Statements | 13 | to | 20 |
| DetailedStatementofFinancialActivities | 21 | to | 22 |
~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
The Trustees/Directors of Quest for Learning are pleased to present their report together with the financial statement of the charity for the year ended 31 July 2025.
Legal and administrative information set out in this document forms part of this Report. The financial statements comply with current statutory requirements, the Trust Deed and applicable law and the Statement of Recommended Practice: Accounting and Reporting by Charities 2019.
INTRODUCTION AND OVERVIEW
The year 2024/25 marked a significant period of consolidation and progress for Quest for Learning. Building on the urgent stabilisation work undertaken in the previous year, the charity focused on strengthening its financial position, refining its delivery model, and embedding more robust systems and planning processes to support long-term sustainability.
The charity entered the year facing ongoing external challenges, including the conclusion of the government's National Tutoring Programme (NTP) subsidies and continued pressure on school budgets. While the end of NTP funding had been anticipated sector-wide, the scale and timing of its impact required a more structured response than had previously been in place. During 2024/25, the charity took decisive action to respond to this changed environment, prioritising financial discipline, strategic focus and impact-led delivery.
As a result, Quest for Learning ends the year in a more stable position, having delivered high-quality support to disadvantaged pupils while achieving a return to surplus and laying the foundations for future development.
OBJECTIVES AND ACTIVITIES
Objects
Quest for Learning exists to close the attainment gap for children facing disadvantage by providing high-quality, specialist literacy and numeracy interventions within primary schools across Oxfordshire.
During the year, the charity delivered structured, small-group programmes led by experienced and professionally trained tutors with expertise in literacy and numeracy development. Interventions are carefully targeted, using assessment data and close collaboration with schools to identify pupils with the greatest need and to tailor support accordingly. Programmes are evidence-informed and skills-focused, combining explicit teaching of core reading and numeracy components with targeted practice and feedback. Alongside academic progress, tutors work deliberately to build pupils’ confidence, engagement and readiness to learn. This specialist, tutor-led approach is designed to deliver meaningful, measurable gains for children who require more than general or informal support.
Delivery is provided by paid, professionally trained tutors with specialist expertise in literacy and numeracy intervention. The charity does not rely on a volunteer-led delivery model, reflecting its focus on structured teaching, assessment-informed practice and measurable learning outcomes for pupils requiring targeted support.
Public benefit
The trustees have had due regard to the Charity Commission's guidance on public benefit when reviewing the charity's aims and activities.
Page 1
~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
ACHIEVEMENTS AND PERFORMANCE
Charitable activities Our impact in 2024-25:
Programme delivery
Despite operating within a significantly reduced financial envelope, Quest for Learning proudly supported 288 children during the year through its literacy and numeracy programmes. While this represents a reduction compared to the previous year (550), it exceeded internal targets set in light of the end of the National Tutoring Programme funding and other funding constraints, and reflects a more focused, sustainable delivery model.
Delivery was increasingly targeted and intensive, enabling deeper support for participating pupils. Demand from schools remained strong throughout the year, with waiting lists maintained in several areas.
While we celebrate this success, it comes against a backdrop of growing financial pressures and evolving educational needs. With approximately 4,500 children in Oxfordshire facing economic deprivation (Oxfordshire School Census Dashboard) - one of several indicators of disadvantage that may affect a child's life chances - Quest for Learning's mission has never been more vital.
Measurable academic progress
Quest for Learning's programmes deliver strong, evidence-based outcomes for pupils who are falling behind. On average, children supported through our literacy interventions made 10-13 months’ progress in reading accuracy and comprehension in just 10 weeks. Pupils receiving numeracy support also demonstrated improved calculation skills and mathematical confidence. Progress was monitored using standardised assessment tools, alongside pupil self-assessment and teacher and school feedback.
Confidence, engagement and independence
Teachers consistently report that academic progress is accompanied by wider improvements in pupils’ confidence and classroom behaviour post-intervention:
Teacher feedback:
-
98% said pupils felt more confident
-
94% said pupils contributed more in class
-
95% said pupils worked more independently
-
96% said that they expect improved future outcomes for the child
Pupil voice reflects this impact:
-
98% of pupils reported feeling more confident in reading
-
92% reported increased confidence in maths
ACHIEVEMENTS AND PERFORMANCE
Value for schools
In addition to improving outcomes for individual pupils, Quest for Learning provides schools with clear, structured progress data. This supports targeted planning, informs governors, and contributes robust evidence for Ofsted inspections and wider school improvement strategies.
Page 2
~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
Lived experience
While quantitative data demonstrates the academic impact of our programmes, the lived experiences of pupils, families and educators provide important qualitative insight into how this progress translates into confidence, engagement and wider wellbeing. The reflections below illustrate the human impact behind the data:
"Before | felt stupid when my teacher asked me to read. Now | like opening my book and | even read a bedtime story to my little sister, and she clapped for me."
- Pupil
"| used to worry my son would never catch up. Watching him pick up a book and smile instead of cry has been life-changing for us. It's given him back his confidence."
- Parent
"I've seen children transform in just a few weeks. One girl went from hiding her book under the desk to confidently reading aloud in class, improving not only her literacy skills but also her participation and engagement across all subjects."
- Teacher
"Our Ofsted report praised the strength of our reading levels; | can't overstate the key role Quest for Learning tutoring has played in that success. Their programmes form part of our reading improvement strategy."
- Headteacher
FINANCIAL REVIEW
Financial performance
Following a significant deficit in 2023/24, the charity recorded a surplus in 2024/25, reflecting the impact of strengthened financial oversight, difficult but necessary restructuring decisions, and improved alignment between income and delivery.
On a management basis, used by trustees to monitor operational performance and cashflow, the charity generated a surplus of £8,959, in line with the original budget forecast. The statutory surplus was £7,372 after non-cash depreciation and amortisation.
This return to surplus represents an important milestone in Quest for Learning's recovery and provides a platform for rebuilding resilience in a challenging funding environment.
Income and expenditure
Total income for the year was £187,723, primarily comprising grant funding, school contributions and strategic partnerships. Expenditure totalled £180,351 with approximately 90% relating to staffing costs, reflecting the charity's people-centred delivery model. Premises costs remain low, with delivery largely school-based and minimal central overhead.
Page 3
~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
FINANCIAL REVIEW
Reserves policy
The trustees have established a reserves policy to maintain sufficient unrestricted reserves to enable the charity to meet its obligations for a period of up to six months in the event of an unexpected loss of income or disruption to delivery.
At 31 July 2025, unrestricted reserves totalled £93,872, representing approximately six months of operating expenditure. In setting this level, trustees considered the timing of grant receipts, reliance on external funding, cashflow volatility arising from school payment schedules, and the wider economic environment.
The trustees consider the level of unrestricted reserves held at the year-end to be appropriate and proportionate to the charity's size, risk profile and delivery commitments. The reserves policy and reserve levels are reviewed regularly as part of financial planning and risk management.
Going concern
The trustees have assessed the charity's financial position, cashflow forecasts and funding outlook for a period of at least twelve months from the date of approval of these financial statements. This assessment has included consideration of forecast income, expenditure commitments, the level of unrestricted reserves held, and the ongoing external funding environment.
While the charity operates in a context of continued pressure on school budgets and reliance on grant funding, the trustees are satisfied that the charity has adequate resources to continue in operational existence for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.
The trustees have also considered scenario planning and the charity's ability to reduce discretionary expenditure should income fall below forecast levels.
Designated funds
During the year, the trustees designated £8,959 of unrestricted reserves as a strategic investment fund. This designation reflects a planned and prudent use of surplus funds rather than an_ operational requirement.
The designated reserve is intended to support investment in core delivery capacity during 2025/26, including the recruitment of a Lead Tutor role to strengthen quality assurance, tutor development and programme oversight. The trustees expect this designation to be utilised during the 2025/26 financial year and will review its use as part of ongoing budget monitoring.
Designated funds remain part of unrestricted reserves and can be undesignated by trustees _ if circumstances change.
Funds in deficit
There were no funds in deficit at the year end.
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~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Quest for Learning is a charitable company limited by guarantee (registered charity number 1107219: registered company number 05273829).
The charity is governed by a Board of Trustees, who are responsible for setting strategic direction, ensuring compliance with legal and regulatory requirements, and overseeing the effective use of charitable resources.The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and regulations.
During the year, the Board strengthened its composition through the recruitment of one new trustee, who received a structured induction covering the charity's purpose, governance framework, financial position and strategic priorities.
The Board meets regularly and has an established Performance Group subcommittee, which provides more detailed scrutiny of finance, delivery, risk and strategic progress between full Board meetings. During the year, trustees continued to provide oversight and challenge, with particular focus on financial sustainability, risk management and strategic development. This included closer scrutiny of budgets, forecasts and delivery plans, supporting the embedding of stronger governance and decision-making processes.
Day-to-day management of the charity is delegated by the Board to the Executive Director, who is responsible for operational delivery within an agreed framework of delegated authority. The Executive Director is supported by the Chair and Deputy Chair.
The Board collectively brings experience across education, special educational needs, finance and professional services, school leadership, marketing, charity law and human resources.
Recruitment and appointment of new Trustees/Directors
Trustees are appointed in accordance with the charity's Articles of Association. Recruitment is undertaken to ensure that the Board maintains an appropriate balance of skills and experience relevant to the charity's work. New trustees receive an induction appropriate to their role.
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~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
STRUCTURE, GOVERNANCE AND MANAGEMENT
Strengthening financial management and controls
During 2024/25, the charity undertook a focused programme of work to strengthen financial systems and internal controls. Particular emphasis was placed on restricted fund tracking, cost allocation and financial reporting, ensuring clearer alignment between funder intentions, internal budgeting and statutory accounts.
Processes for monitoring restricted income and expenditure were reviewed and standardised, improving transparency and supporting more accurate forecasting and reporting. These changes enhance trustees’ oversight and provide a stronger platform for sustainable growth.
These changes reflect a purpose-based approach to restricted fund reporting and will be applied consistently in future years.
Fundraising statement
Quest for Learning raises funds through grants, partnerships, and donations from individuals and organisations aligned with its mission. Trustees have oversight of fundraising activity and ensure it is conducted in a responsible, transparent and ethical manner. The charity is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice, ensuring that all fundraising activity meets recognised standards of best practice. The charity is committed to protecting the public and, in particular, vulnerable people. Fundraising communications are proportionate, respectful and never pressurising.
Quest for Learning does not use professional fundraisers or commission-based fundraising arrangements.
No fundraising complaints were received during the year.
Safeguarding
The trustees recognise their responsibility to safeguard children and young people. Quest for Learning operates a robust safeguarding framework, including a safeguarding policy, designated safeguarding lead, and safer recruitment practices. All tutors are appropriately vetted and trained, and safeguarding considerations are embedded into delivery and oversight.
The charity also maintains appropriate data protection policies and procedures to ensure personal data is handled lawfully and securely, in line with relevant legislation. Trustees regularly review key policies to ensure they remain effective and proportionate.
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~~Quest For Learning~~
~~Report of the Trustees for the Year Ended 31 July 2025~~
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The trustees regularly review the principal risks facing the charity, including financial sustainability, reliance on grant funding, and the potential impact of changes in the external funding environment on programme delivery. Risk management is embedded within trustee decision-making and strategic planning, with the charity's risk register reviewed at least quarterly by the Board and through the Performance Group.
Key risks identified during the year include:
-
Safeguarding: mitigated through robust policies, safer recruitment practices, staff training and clear safeguarding leadership.
-
Workforce capacity and tutor recruitment and retention: mitigated through competitive pay, professional support, and investment in tutor development and quality assurance. - Delivery quality and consistency: mitigated through structured programmes, assessment-informed practice, and strengthened pedagogical oversight. - Data protection and cyber security: mitigated through appropriate policies, secure systems, access controls and regular review.
-
Fundraising dependency on key relationships and funders: mitigated through diversification of income sources, relationship management, and more strategic forward planning.
During the year, mitigating actions also included tighter financial controls, improved budgeting and forecasting, and clearer alignment between income and delivery, strengthening the charity's resilience in a challenging funding environment.
Plans for the future
Looking ahead to 2025/26, the charity's priorities are to:
-
further develop literacy and numeracy programmes in response to school need;
-
increase reach, subject to funding, particularly in communities facing entrenched inequality;
-
diversify income by building new relationships with funders, businesses and supporters;
-
invest in data, evaluation and systems to strengthen evidence of impact; and
-
raise the charity's profile to support long-term sustainability.
The progress made during 2024/25 provides a stable foundation from which to pursue these aims with confidence.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number 05273829 (England and Wales)
Registered Charity number 1107219
Registered office Thameside Primary School Cotman Close Abingdon Oxfordshire OX14 5NL
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~~Independent Examiner's Report to the Trustees of Quest For Learning~~
Independent examiner's report to the trustees of Quest For Learning (‘the Company’)
| report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 (‘the 2011 Act'). In carrying out my examination | have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
| 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.
Tony K. Hobbs FCCA
The Association of Chartered Certified Accountants
Chapman Robinson and Moore Limited
30 Bankside Court Stationfields Kidlington Oxford OX5 1JE
25 February 2026
Page 9
~~Quest For Learning~~
Statement of Financial Activities
~~for the Year Ended 31 July 2025~~
| 31/7/25 | 31/7/24 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| fund | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 83,291 | 29,956 | 113,247 | 136,094 | |
| Income from charitable activities -Trading | |||||
| activities | 2 | 73,799 | - | 73,799 | 81,307 |
| Investment income | 3 | 677 | - | 677 | 363 |
| Total | 157,767 | 29,956 | 187,723 | 217,764 | |
| EXPENDITURE ON | |||||
| Raising funds | 25,307 | - | 25,307 | 24,943 | |
| Charitable activities | |||||
| Trading | 129,626 | 25,418 | 155,044 | 259,667 | |
| Total | 154,933 | 25,418 | 180,351 | 284,610 | |
| NETINCOME/(EXPENDITURE) | 2,834 | 4,538 | 7,372 | (66,846) | |
| Transfers between funds | 11 | 22,797 | (22,797) | - | - |
| Net movement in funds | 25,631 | (18,259) | 7,372 | (66,846) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 68,241 | 22,797 | 91,038 | 157,884 | |
| TOTALFUNDSCARRIEDFORWARD | 93,872 | 4,538 | 98,410 | 91,038 |
The notes form part of these financial statements
Page 10
~~Quest For Learning~~
Balance Sheet
~~31 July 2025~~
| 31/7/25 | 31/7/24 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Intangible assets | 8 | 19,298 | - | 19,298 | 22,426 | |
| Tangible assets | 9 | - | - | - | 1,546 | |
| CURRENT ASSETS | 19,298 | - | 19,298 | 23,972 | ||
| Cash at bank and in hand | 82,045 | 4,538 | 86,583 | 92,611 | ||
| CREDITORS | ||||||
| Amounts falling due within one year | 10 | (7,471) | - | (7,471) | (25,545) | |
| NETCURRENT ASSETS | 74,574 | 4,538 | 79,112 | 67,066 | ||
| TOTALASSETS LESSCURRENT LIABILITIES | 93,872 | 4,538 | 98,410 | 91,038 | ||
| NETASSETS | 93,872 | 4,538 | 98,410 | 91,038 | ||
| FUNDS | 11 | |||||
| Unrestricted funds | 93,872 | 68,241 | ||||
| Restricted funds | 4,538 | 22,797 | ||||
| TOTALFUNDS | 98,410 | 91,038 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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~~Quest For Learning~~
Notes to the Financial Statements
~~for the Year Ended 31 July 2025~~
- ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Computer software
Website development costs and costs of online library system have been capitalised in the year and are being amortised evenly over a 10 year period.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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~~Quest For Learning~~
Notes to the Financial Statements - continued
~~for the Year Ended 31 July 2025~~
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. INCOME FROM CHARITABLE ACTIVITIES - TRADING ACTIVITIES
| 2. | INCOME FROM CHARITABLE ACTIVITIES - TRADING ACTIVITIES | ||
|---|---|---|---|
| 31/7/25 | 31/7/24 | ||
| £ | £ | ||
| Numeracy teaching | 18,434 | 18,688 | |
| Miscellaneous fundraising | 350 | 396 | |
| Literacy teaching | 55,015 | 62,223 | |
| 73,799 | 81,307 | ||
| 3. | INVESTMENT INCOME | ||
| Bank interest receivable | 31/7/25 £ 677 |
31/7/24 £ 363 |
|
| 4. | NETINCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| Depreciation - owned assets | 31/7/25 £ 1,546 |
31/7/24 £ 1,714 |
|
| Computersoftwareamortisation | 3,128 | 2,971 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees’ remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024.
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~~Quest For Learning~~
Notes to the Financial Statements - continued
~~for the Year Ended 31 July 2025~~
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
| 31/7/25 | 31/7/24 | |||
|---|---|---|---|---|
| Administration - full time staff | 1 | 1 | ||
| Part time staff - administration | 5 | 5 | ||
| Part time staff -teaching | 16 | 19 | ||
| 22 | 25 | |||
| No employees received emoluments in excess of£60,000. | ||||
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES | |||
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
Restricted funds £ |
Total funds £ |
|
| Donations and legacies | 22,206 | 113,888 | 136,094 | |
| Income from charitable activities - | ||||
| Trading activities | 81,307 | - | 81,307 | |
| Investment income | 363 | - | 363 | |
| Total | 103,876 | 113,888 | 217,764 | |
| EXPENDITURE ON | ||||
| Raising funds | 24,943 | - | 24,943 | |
| Charitable activities | ||||
| Trading | 234,184 | 25,483 | 259,667 | |
| Total | 259,127 | 25,483 | 284,610 | |
| NET INCOME/(EXPENDITURE) | (155,251) | 88,405 | (66,846) | |
| Transfers between funds | 91,762 | (91,762) | - | |
| Netmovement in funds | (63,489) | (3,357) | (66,846) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 131,730 | 26,154 | 157,884 | |
| TOTALFUNDSCARRIEDFORWARD | 68,241 | 22,797 | 91,038 |
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~~Quest For Learning~~
Notes to the Financial Statements - continued
~~for the Year Ended 31 July 2025~~
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |||
|---|---|---|---|---|---|
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 157,767 | (154,933) | 2,834 | ||
| Restricted funds | |||||
| Literacy Programmes | 17,221 | (16,278) | 943 | ||
| Numeracy Programmes | 6,000 | (3,000) | 3,000 | ||
| Learning Resources | 235 | - | 235 | ||
| Literacy Specific Geographical Areas | 5,500 | (5,140) | 360 | ||
| All Programmes | 1,000 | (1,000) | - | ||
| 29,956 | (25,418) | 4,538 | |||
| TOTAL FUNDS | 187,723 | (180,351) | 7,372 | ||
| Comparatives for movement in funds | |||||
| Unrestricted funds | At 1/8/23 £ |
Net movement in funds £ |
Transfers between funds £ |
At 31/7/24 £ |
|
| General fund | 131,730 | (155,251) | 91,762 | 68,241 | |
| Restricted funds | |||||
| Literacy Programmes | - | 78,160 | (78,160) | - | |
| Numeracy Programmes | - | 13,602 | (13,602) | - | |
| All Programmes | 26,154 | - | (3,357) | 22,797 | |
| Data Projects | - | (3,357) | 3,357 | - | |
| 26,154 | 88,405 | (91,762) | 22,797 | ||
| TOTALFUNDS | 157,884 | (66,846) | - | 91,038 |
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~~Quest For Learning~~
Notes to the Financial Statements - continued
~~for the Year Ended 31 July 2025~~
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 103,876 | (259,127) | (155,251) |
| Restricted funds | |||
| Literacy Programmes | 94,517 | (16,357) | 78,160 |
| Numeracy Programmes | 16,072 | (2,470) | 13,602 |
| Learning Resources | 300 | (300) | - |
| Data Projects | 2,999 | (6,356) | (3,357) |
| 113,888 | (25,483) | 88,405 | |
| TOTALFUNDS | 217,764 | (284,610) | (66,846) |
Comparative figures reflect historic presentation applied at the time and are shown for consistency only.
Transfers between funds
Reclassification of Step Change funded intangible fixed assets
In prior years, fixed assets acquired using funding from the Step Change grant were treated as restricted assets. The Step Change funding was provided to support the development of organisation-wide digital infrastructure, including the charity's website and bespoke information management systems.
The trustees have reviewed the nature of this funding and concluded that the restriction related to the creation of these assets rather than their ongoing use. The restricted purpose was therefore fully discharged once the assets were developed, capitalised and brought into operational use. The assets are now used across all of the charity's activities and programmes.
Accordingly, during the year the trustees determined that these assets with a net book value of £22,797 should be reclassified as unrestricted fixed assets, with the related depreciation charged to unrestricted expenditure. This treatment more accurately reflects donor intent, complies with the Charities SORP requirement for restricted funds to be presented by purpose, and avoids an asset-driven presentation of restricted fund balances.
This reclassification does not affect the charity's total net assets, amortisation policy or cash position, but improves the transparency and consistency of restricted fund reporting going forward.
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~~Quest For Learning~~
Notes to the Financial Statements - continued
~~for the Year Ended 31 July 2025~~
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2025.
13. BOARD DESIGNATED FUND: STRATEGIC DELIVERY RESERVE
At 31 July 2025, the Trustees resolved to establish a Board Designated Fund - the Strategic Delivery Reserve, comprising the entire surplus for the year of £8,959. This fund forms part of the charity's unrestricted reserves and reflects the Trustees’ commitment to proactively invest in the charity's future growth and operational excellence.
The Strategic Delivery Reserve has been earmarked to strengthen the charity's strategic delivery in FY 2025/26, including the recruitment of a Lead Tutor to enhance tutor management, professional development, and programme quality. By investing in strengthened programme oversight and tutor development, the fund will directly support improved learning outcomes for the children we serve, ensuring that more disadvantaged pupils in Oxfordshire gain literacy and numeracy skills and make measurable progress.
The fund remains legally unrestricted; its designation signals the Trustees’ deliberate intention to allocate resources strategically to deliver long-term benefits for the charity's mission and, most importantly, the children who benefit from its programmes.
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