## **Third Text Ltd.** **Charity No. 1108974** **Company No. 05051134** **Trustees' Report and Unaudited Accounts** **31 March 2025** **Third Text Ltd. Contents** ||Pages|| |---|---|---| |Trustees' Annual Report||2| |Independent Examiner's Report||3| |Statement of Financial Activities||4| |Balance Sheet||5| |Notes to the Accounts|6 to|13| |Detailed Statement of Financial Activities|14 to|15| Page 1 **Third Text Ltd. Trustees Annual Report** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2025. ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Company No. 05051134** ## **Charity No. 1108974** ## **Registered Office** Enclave Studios Unit 6 50 Resolution Way Deptford London SE8 4AL ## **Directors and Trustees** The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year: V.P. Bartlett (Resigned 25 January 2025) A. Correia E. Robles S. Tegala P. Gladston (Appointed 01 April 2024) **Company Secretary** R. Dyer ## **Accountants** AFE Accountants Limited Building 3, North London Business Park, New Southgate, London N11 1GN The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 2 **Third Text Ltd. Trustees Annual Report** The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102). Signed on behalf of the board A. Correia Trustee 09 December 2025 Page 3 **Third Text Ltd. Independent Examiners Report** ## **Independent Examiner's Report to the trustees of Third Text Ltd.** I report to the charity trustees on my examination of the financial statements of Third Text Ltd. for the year ended 31 March 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 financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe: - accounting records were not kept in accordance with section 386 of the 2006 Act ; or - the financial statements do not accord with those records; or - the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or - the financial statements 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). 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 financial statements to be reached. Adam Feyzi FCCA AFE Accountants Limited Building 3, North London Business Park, New Southgate, London N11 1GN 09 December 2025 Page 4 **Third Text Ltd. Statement of Financial Activities** ## **for the year ended 31 March 2025** |**Notes**
**Income and endowments**
**from:**
Donations and legacies
4
Investments
5
**Total**
**Expenditure on:**
Other
6
**Total**
Net gains on investments
**Net income/(expenditure)**
7
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
105,878
582|**Restricted**
**funds**
**2025**
**£**
-
-|**Total funds**
**2025**
**£**
105,878
582|**Total funds**
**2024**
**£**
91,706
243| |---|---|---|---|---| ||106,460
82,499|-
-|106,460
82,499|91,949
96,878| ||82,499
-|-
-|82,499
-|96,878
-| ||23,961
-|-
-|23,961
-|(4,929)
-| ||23,961|-|23,961|(4,929)| ||23,961
46,429|-
6,001|23,961
52,430|(4,929)
57,359| ||70,390|6,001|76,391|52,430| Page 5 **Third Text Ltd. Summary Income and Expenditure Account** ## **for the year ended 31 March 2025** |Income
Interest and investment income
**Gross income for the year**
Expenditure
Interest payable
Depreciation and charges for
impairment of fixed assets
**Total expenditure for the year**
Net income/(expenditure) before tax
for the year
**Net income /(expenditure )for the year**|**2025**
**£**
105,878
582
106,460
81,568
-
931
82,499
23,961
23,961|**2024**
**£**
91,706
243| |---|---|---| |||91,949| |||95,422
57
1,399| |||96,878| |||(4,929)| |||(4,929)| Page 6 **Third Text Ltd. Balance Sheet** ## **at 31 March 2025** |**Company No.**
**05051134**
**Notes**
**2025**
**£**
**Fixed assets**
Tangible assets
9
336
336
**Current assets**
Debtors
10
1,400
Cash at bank and in hand
78,747
80,147
**Creditors:**Amount falling due within one year
11
(4,092)
**Net current assets**
76,055
**Total assets less current liabilities**
76,391
**Net assets excluding pension asset or liability**
76,391
**Total net assets**
76,391
**The funds of the charity**
**Restricted funds**
12
Restricted income funds
6,001
6,001
**Unrestricted funds**
12
General funds
70,390
70,390
**Reserves**
12
**Total funds**
76,391|**2024**
**£**
1,267| |---|---| ||1,267
1,400
52,247| ||53,647
(2,484)| ||51,163
52,430| ||52,430| ||52,430| ||6,001| ||6,001
46,429| ||46,429| ||52,430| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 09 December 2025 And signed on its behalf by: A. Correia Trustee 09 December 2025 Page 7 **Third Text Ltd. Notes to the Accounts** ## **for the year ended 31 March 2025** - 1 **Accounting policies** ## **Basis of preparation** The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **Change in basis of accounting or to previous accounts** There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. ## **Fund accounting** - Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. - Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. - Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. ## **Income** - Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. - Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income. - Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets Page 8 **Third Text Ltd. Notes to the Accounts** ## **Expenditure** - Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates. - Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs. - Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. - Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. - Other expenditure These are support costs not allocated to a particular activity. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Tangible fixed assets and depreciation** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: Plant and machinery 20% Reducing balance Computer equipment 33% Straight line ## **Trade and other debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. ## **Trade and other creditors** Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 9 **Third Text Ltd. Notes to the Accounts** ## **Receipt of donated goods, facilities and services** All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. ## 2 **Company status** The company is a private company limited by guarantee and consequently does not have share capital. ## 3 **Statement of Financial Activities - prior year** |**Income and endowments from:**
Donations and legacies
Investments
**Total**
**Expenditure on:**
Other
**Total**
**Net income**
**Net income before other**
**gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
4
**Income from donations and legacies**
5
**Income from investments**|**Unrestricted**
**funds**
**2024**
**£**
91,706
243
91,949
96,878
96,878
(4,929)
(4,929)
(4,929)
51,358
46,429
**Unrestricted**
**£**
105,878
105,878
**Unrestricted**
**£**
582
582|**Restricted**
**funds**
**2024**
**£**
-
-
-
-
-
-
-
-
6,001
6,001
**Total**
**2025**
**£**
105,878
105,878
**Total**
**2025**
**£**
582
582|**Total funds**
**2024**
**£**
91,706
243| |---|---|---|---| ||||91,949
96,878| ||||96,878| ||||(4,929)| ||||(4,929)| ||||(4,929)
57,359| ||||52,430| ||||**Total**
**2024**
**£**
91,706| ||||91,706| ||||**Total**
**2024**
**£**
243| ||||243| Page 10 **Third Text Ltd. Notes to the Accounts** ## 6 **Other expenditure** |Other interest payable
Employee costs
Motor and travel costs
Premises costs
Amortisation, depreciation,
impairment, profit/loss on
disposal of fixed assets
General administrative costs
Legal and professional costs
7
**Net income/(expenditure) before transfers**
This is stated after charging:
Depreciation of owned fixed assets
8
**Staff costs**
Salaries and wages
Social security costs
No employee received emoluments in excess of £60,000.
9
**Tangible fixed assets**
**Cost or revaluation**
At 1 April 2024
At 31 March 2025
**Depreciation and**
**impairment**
At 1 April 2024
Depreciation charge for the
year
At 31 March 2025
**Net book values**
At 31 March 2025
At 31 March 2024|**Unrestricted**
**£**
-
64,782
95
7,674
931
7,577
1,440
82,499
**2025**
**£**
931
**2025**
43,756
-
43,756
**Plant and**
**machinery**
**£**
11,317
11,317
10,928
78
11,006
311
389|**Total**
**2025**
**£**
-
64,782
95
7,674
931
7,577
1,440
82,499
**Computer**
**equipment**
**£**
6,445
6,445
5,567
853
6,420
25
878|**Total**
**2024**
**£**
57
75,714
297
9,363
1,399
8,608
1,440| |---|---|---|---| ||||96,878| ||||**2024**
**£**
1,399
**2024**
48,177
177| ||||48,354| ||||**Total**
**£**
17,762| ||||17,762| ||||16,495
931| ||||17,426| ||||336| ||||1,267| Page 11 **Third Text Ltd. Notes to the Accounts** |10 **Debtors**
Other debtors
11 **Creditors:**
amounts falling due within one year
Other taxes and social security
Accruals
12 **Movement in funds**
**Restricted funds:**
**Restricted income funds:**
_Total_
**Unrestricted funds:**
**General funds**
**Total funds**
13 **Analysis of net assets between funds**
Fixed assets
Net current assets
14 **Reconciliation of net debt**
Cash and cash equivalents
Net debt|**At 1 April**
**2024**
6,001
6,001
46,429
52,430|**2025**
**£**
1,400
1,400
**2025**
**£**
-
4,092
4,092
**Incoming**
**resources**
**(including**
**other**
**gains/losses**
**)**
**£**
-
-
106,460
106,460
**At 1 April**
**2024**
**£**|**Resources**
**expended**
**£**
-
-
(82,499)
(82,499)
**Unrestricted**
**funds**
**£**
336
76,055
76,391
**Cash flows**
**£**|**2024**
**£**
1,400| |---|---|---|---|---| |||||1,400| |||||**2024**
**£**
1,043
1,441| |||||2,484| |||||**At 31**
**March**
**2025**
**£**
6,001| |||||6,001| |||||70,390| |||||76,391| |||||**Total**
**£**
336
76,055| |||||76,391| |||||**At 31**
**March**
**2025**
**£**| |||52,247|26,500|78,747| |||52,247
52,247|26,500
26,500|78,747| |||||78,747| Page 12 **Third Text Ltd. Notes to the Accounts** ## 15 **Related party disclosures** ## _**Controlling party**_ The company is limited by guarantee and has no share capital; thus no single party controls the company. Page 13 **Third Text Ltd. Detailed Statement of Financial Activities** ## **for the year ended 31 March 2025** |**Income and endowments from:**
Donations and legacies
Investments
**Total income and endowments**
**Expenditure on:**
Other expenditure
Other interest payable
Employee costs
Salaries/wages
Employer's NIC
Subcontractor costs
Motor and travel costs
Travel and subsistence
Premises costs
Rent
Rates
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of Plant and
machinery
Depreciation of Computer
equipment
Bank charges
General insurances
Image fees
Stationery and printing
Subscriptions
Sundry expenses
Telephone, fax and broadband|**Unrestricte**
**d funds**
**2025**
**£**
105,878
105,878
582
582
106,460
-
-
43,756
-
21,026
64,782
95
95
7,150
434
90
7,674
78
853
125
1,781
104
195
1,164
2,649
1,559|**2025**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total funds**
**2025**
**£**
105,878
105,878
582
582
106,460
-
-
43,756
-
21,026
64,782
95
95
7,150
434
90
7,674
78
853
125
1,781
104
195
1,164
2,649
1,559|**Total funds**
**2024**
**£**
91,706| |---|---|---|---|---| |||||91,706| |||||243| |||||243| |||||91,949
57| |||||57| |||||48,177
177
27,360| |||||75,714| |||||297| |||||297| |||||7,763
209
1,391| |||||9,363| |||||97
1,302
50
647
36
449
2,914
3,253
1,259| Page 14 **Third Text Ltd. Detailed Statement of Financial Activities** |**Third Text Ltd.**
**Detailed Statement of Financial Activities**||||| |---|---|---|---|---| |Legal and professional costs
Accountancy and bookkeeping
**Total of expenditure of other costs**
**Total expenditure**
Net gains on investments
**Net income/(expenditure)**
**Net income/(expenditure) before**
**other gains/(losses)**
Other Gains
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|8,508
1,440
1,440
82,499
82,499
-
23,961
23,961
-
23,961
46,429
70,390|-
-
-
-
-
-
-
-
-
-
6,001
6,001|8,508
1,440
1,440
82,499
82,499
-
23,961
23,961
-
23,961
52,430
76,391|10,007| |||||1,440| |||||1,440| |||||| |||||96,878| |||||96,878
-| |||||(4,929)| |||||(4,929)
-| |||||(4,929)| |||||57,359| |||||52,430| Page 15