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← Workers' Educational Association

2025-07-31-accounts

WEA statutory annual report and financial statements

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Workers’ Educational Association

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Workers’ Educational Association trustees’ annual report and accounts 2024/25

Contents

Introduction 3
Reference and administrative details 4
Objectives and activities 6
Strategic report 11
Financial review 18
Risk management 21
Structure, governance and management 24
Trustees’ declaration 36
Statement of corporate governance and internal control 37
Governing body’s statement on regularity 38
Independent auditor’s report 39
Independent reporting accountant’s report 42
Financial statements 43

Introduction

The members of the Board of Trustees of the Workers’ Educational Association (WEA), who are the Trustees of the charity, and Directors and Members of the Company, have pleasure in submitting the report and accounts for the year ended 31 July 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the attached financial statements and comply with the charitable company’s Articles of Association, applicable law and regulations, and:

The report has been prepared in accordance with Part 8 of the Charities Act 2011 and constitutes a directors’ report as required by section 418 of the Companies Act 2006.

The Governance arrangements are explained in more detail in the Structure, Governance & Management section beginning on page 24.

Further information on WEA’s activities during the year and the impact these activities have had on the communities it serves is available in the Impact Report, separately published in June 2025 and available on the WEA website.

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Reference and administrative details

Trustees

The following trustees served on the Board during the year and to date:

John Widdowson (Chair) Catherine Armor Robin Cook Tracey Irving Craib Kevin Doyle Colin Finlay (appointed 12/07/2025) Malcolm Grady Christine Grant

Jamey Johnson Abda Khan (resigned 24/01/2025) Geoff Layer (Vice Chair) Ronald Marks Stephanie Mason Matthew Pointon Amanda Woodvine (appointed 15/05/2025)

Company Secretary

Kathleen Formosa

Leadership team (to 31 July 2025)

Chief Executive & General Secretary Chief Financial Officer Director of Quality & Curriculum Director of Scotland & Contract Management Director of Learning Director of External Relationships Director of Governance & Purpose Director of People, Strategy & Culture Director of IT

Simon Parkinson Shaun Tyndall Preeya Searle Ray McCowan Navjot Johal Chris Morgan Kathleen Formosa Angie Evans Luke Cama

Leadership team (from 1 August 2025)

Chief Executive & General Secretary Chief Financial Officer Director of Curriculum, Quality & Safeguarding Director of Scotland & Relationship Management Director of Learning & Contract Performance Director of External Relationships Director of Governance & Purpose Director of People, Strategy & Culture Director of IT

Simon Parkinson Shaun Tyndall Preeya Searle Ray McCowan Navjot Johal Chris Morgan Kathleen Formosa Angie Evans Luke Cama

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Pension fund trustees and administrators

Teachers’ Pensions 11b Lingfield Point Darlington DL1 1AX

Auditor

Crowe U.K. LLP 55 Ludgate Hill London EC4M 7JW

Bankers

Royal Bank of Scotland 250 Bishopsgate Spitalfields, London EC2M 4AA

Bank of Scotland 300 Lawnmarket Edinburgh EH1 2PH

Solicitors

Bates Wells 10 Queen Street Place London EC4R 1BE

Balfour & Manson 54-66 Frederick Edinburgh EN2 1LS

Scottish Public Pension Agency 7 Tweedside Park Tweedbank Galashiels TD1 3TE

The People’s Pension (B&CE Holdings Ltd.) Manor Royal Crawley RH10 9QP

The Pensions Trust (closed to future accrual 31/08/2019) Verity House 6 Canal Wharf Leeds LS11 5BQ

WEA registered office

4 Luke Street London EC2A 4XW T. +44 (0) 20 7426 3450 W. wea.org.uk

Registered Charity Number (England and Wales): 1112775 (Scotland): SC039239

Registered Company Number (England and Wales): 2806910

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Objectives and activities

In fulfilment of its charitable objects, to promote adult and general education for the benefit of the community regionally, nationally and internationally based on democratic principles in its organisation and practice, through the participation of its voluntary members, WEA built on its successes from previous years in its achievements during 2024/25 and addressed some of its areas of development.

WEA embraces the principle that individuals and their communities have the knowledge, skills and desire to drive positive change at the local, regional, national (England and Scotland), and international level. The Association thus recognizes that its role is to celebrate local variation and variety whilst serving and supporting local and regional activity.

Throughout 2024/25, WEA’s objectives and activities were aligned with the “Creating Opportunities” Strategy, demonstrating a commitment to delivering lifelong learning across three strategic pillars – Learning for Life; Learning for Work; and Learning that Builds Communities.

2024/25 was a busy and pivotal year for WEA, during which the organisation:

Having carefully monitored the impact of “Reshape” on the Association and its ability to deliver contracts and support learners, a “mini Reshape – Re-alignment” was undertaken at the start of the 2025/26 financial year to correct some areas where delivery and support were lagging. This resulted in some adjustment to leadership team portfolios and title changes, as well as adjustments to teams.

WEA has been a unitary organization since 2005. However, the significant differences in inspection regimes and funding requirements in Scotland have meant that work and operations in Scotland continued to be treated separately. The overhaul of digital systems and infrastructure beginning in 2023/24, and the reorganization of teams through “Reshape” in 2024/25 meant that we now had the tools and expertise available to bring English and Scottish operations closer together, and to ensure that financial reporting, the collection and handling of learner data, quality systems, and training and development opportunities were consistent across borders. Within governance, these changes have impacted on the work of Scotland Board, and it is expected that the year ahead will bring changes to the way in which strategic oversight is carried out in relation to our work in Scotland.

Our learners & learning

An informed, needs-based approach to curriculum planning has enabled our learners to achieve positive outcomes that:

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These outcomes have underpinned our continuing process to embed a systematised, rigorous approach to curriculum planning, and a whole Association response to emerging opportunities and leveraging specific, successful initiatives developed across England and Scotland. With attention to local needs and to learner interests and aspirations, WEA continued to encourage and support learners in the completion of their learning programmes and to progress into higher level courses or into employment. Targeted interventions to increase participation and reduce drop-out of courses and qualification pathways continued to be prioritised throughout the year.

Funding challenges

WEA has acknowledged continued, significant shifts in public funding toward skills and employability, and away from WEA’s historic strength in delivering community learning, arts/crafts, health and wellbeing, and cultural learning. It has responded by building a curriculum offer that includes both accredited and non-accredited skills provision, and that is supported by a growing range of provision in maths, English, and ESOL. WEA continues to build its capabilities in the employability training arena as it builds a longer track record of successful skills provision.

WEA has and will continue to ensure that a positive learner experience remains at the centre of all activities and initiatives. WEA continues to develop and to refine its programme of peer-reviewed class visits and proactive support for learner progression through WEA programmes.

In response to funder requests, WEA moved a significant portion of its provision back into venues while continuing to leverage the significant investments in technology made over the previous three years. Progressive improvements continued to be made to embed approaches to blended and digitally enabled learning for all provision. All learners are supported in the use of Canvas (WEA’s virtual learning environment) to enhance their classroom experience, whether they are taught fully online or in venue. At minimum, all learners use Canvas to complete their learning plans and evaluation plans for each course.

Each of the strategic priorities identified during the year regarding learners and learning were underpinned by distinct priorities for Scotland and throughout England. Balancing uniform quality standards while inflecting provision to respond to local variation has supported a positive learner experience alongside increased efficiency and effectiveness in delivering education contracts.

ESOL provision continues to account for a significant portion of WEA provision in all areas, and in Scotland, the majority of learners are enrolled in ESOL provision. WEA delivers to a broad range of learners with hugely varying backgrounds and capabilities. As a result, our ESOL provision is not strictly focused on generic language training but focused on the language delivery being tailored to the context of the individuals and class groups. Examples include ESOL and financial literacy, and ESOL for employability.

Headline subject areas were broadly the same in England and in Scotland and aligned to WEA’s overall strategy and strategic priorities. We are increasingly using digital technologies to support teaching and learning on both sides of the border and setting objectives in relation to improving the quality of the learner experience whether courses are taught online or in venue. In England, curricula have been developed in response to local need, as articulated by the funder. In Scotland, this demand is less explicit, but significant focus has been placed on employability provision to progress people at various stages along the skills pipeline and in some cases into work. Literacy, numeracy, and digital literacy also accounted for significant amounts of the provision in Scotland, both to help people into work but also for those who are in work but in low skill, low wage sectors of the economy.

The different funding requirements in Scotland have enabled WEA to continue to run a wide range of personal development programmes to assist learners with particularly challenging life circumstances – e.g., long-term unemployed, ex-offenders, those recovering from substance or alcohol addiction, and young adults moving on from looked-after settings. We have also sustained an active membership education programme, notably in Edinburgh, Fife and the Northeast, which looks to prevent loneliness, isolation and dependency through a varied programme of activity that facilitates community engagement and empowers individuals’ independence. Such programmes have also previously been run in England. However, recent shifts in funding prioritising skills and employability provision above all else mean that these programmes have largely disappeared in England.

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Our members & volunteers

WEA is constitutionally an Association of members and views engaged membership as critical to its long-term success and sustainability. WEA has sought to deepen its engagement with the Association Membership during the year to ensure the Association’s reach, to grow its profile, and amplify its voice not only as a provider of adult education, but also as a thought leader and champion of lifelong learning generally.

Many Association Members are also volunteers for WEA. Most WEA volunteers engage with the Association through its governance, either as lay members of committees of the Board of Trustees, or as members of one of WEA’s fourteen Local Advisory Panels working across England to expand WEA’s charitable reach, to ensure WEA is meeting and responsive to local need, and to support positive learner experiences and engagement with WEA. WEA volunteers also support and contribute to Association-wide events and communications.

Following WEA’s restructure, the placement of the Volunteering Manager within the People, Strategy & Culture Directorate has enabled closer alignment of volunteering and HR functions and supported a more rigorous and regular volunteer recruitment and vetting process, onboarding, and improved communication with volunteering.

Our voice

WEA has used its position as the leading organisation in the UK for adult learning to demonstrate the positive difference that lifelong learning makes. In 2024/25, WEA continued to grow its network of like-minded organisations in the UK and internationally. WEA has strong and established relationships with national and international organisations in the sector (e.g., Holex, SOLIDAR, IFWEA) and engages these allied organisations in ways that build WEA’s profile within the sector, that builds enthusiasm for WEA’s mission and values, and that advances the cause of individual access to lifelong learning generally.

Our people

WEA recognise that its people are its greatest asset. Following months of colleague consultation and the agreement of the Board of Trustees in the second half of 2023/24, WEA implemented a new target operating model and organisational structure from 1 August 2024. With the aim of refreshing and reinforcing what WEA had been historically, and what it aims to be in the future – i.e., a member-led charity with a proud legacy of support for thousands of learners across the UK – WEA’s “Reshaping the Way We Work” project shifted WEA away from teams organised by geography to a new structure organised according to areas of specialization and expertise. In this way, WEA sought to increase support for and responsiveness to learners, and to maximise the impact on the communities where we work while improving organisational agility and efficiency. WEA did not change its strategic objectives through the “Reshape” project.

Continuing Change Post-“Reshape”

Following more than six months of planning among Leadership Team and eight weeks of consultation with colleagues, WEA implemented its new structure on 1 August 2024. From 1 August 2024, WEA colleagues continued to be spread across England and Scotland but with reporting lines shifted to support and enable greater transparency and accountability across the Association.

During the 2024/25 financial year, phase 2 was launched a “mini-reshape” - Re-alignment project was introduced to rationalize roles in the finance team in relation to the wider organisational restructuring and a new Finance system. Teams in Scotland were also reshaped to enable increased cross-border working to eliminate duplication of systems, and to ensure that learners received a consistent high quality of provision and pastoral support whether studying in England or in Scotland. Additionally, some adjustments were made to roles and reporting lines elsewhere in the organisational structure in response to colleague feedback on optimizing outcomes from “Reshape.”

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WEA tutors were not affected by “Reshape” and were out of scope for the restructure. WEA continues to work toward maximizing opportunities for its part-time and sessional tutor workforce. In line with curriculum development efforts, WEA continues to develop a strategic workforce planning framework to analyse, manage and prepare its current and future tutor workforce requirements which will change with the upcoming Employment Rights Bill.

WEA is aware of the risk to employee and volunteer engagement arising from the significant level of change that has been implemented progressively across the Association over the last few years. With an eye toward achieving what it perceives to be a balance between the risks and the benefits of largescale organisational change, WEA has placed significant emphasis on:

Support for Volunteers and Colleagues

WEA continues its commitment to supporting its paid and voluntary workforce by:

WEA continues to be a living wage employer and has introduced a colleague led EDI initiative (“WEA Represents”) to prioritise and embed measures to improve and support equality, diversity, and inclusion across the organisation. WEA continues to develop its culture with a focus on improvements to our internal communication and leadership at all levels.

Our systems & processes

Phase two of the digital transformation and infrastructure project agreed by the Board of Trustees in 2022 was substantially completed by the end of 2023/24. As at 31 July 2024, £2.3 million of the agreed £3.4 million investment had been spent.

A further £500K was spent in 2024/25 to finish the digital transformation and infrastructure project and launch new finance and HR systems, thereby completing the IT refresh. Networking and user device replacements are ongoing to replace physical technical debt, and this will be maintained on a five-year rolling cycle. Overall, the digital transformation project ended c. £600K below budget.

WEA maintained CyberEssentials+ accreditation in 2024/25 and has committed to achieving ISO 27001 accreditation for the first time in 2025/26.

Our finances

As in previous years, WEA engaged mayoral authorities throughout 2024/25 to protect its position as a grant funded provider.

WEA continues to face challenges in the funding environment as devolution continues in England, and government priorities in England and Scotland shift ever increasingly toward skills provision and employability. The growing imbalance between restricted and unrestricted income continues to be a risk that WEA Trustees carefully monitor. Shrinking unrestricted income from the Department for Education, whether through our core grant or via Mayoral Combined Authorities, threatens WEA’s ability to sustain the learner-driven courses and programmes on which much of its reputation has been built.

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Nevertheless, WEA continues to make efforts to pursue funding wherever it devolves and recognises that the ability to secure renewed funding beyond initial contracts depends on its ability to deliver against specific funding commitments. WEA continues to focus efforts on improving its overall approach to contract monitoring and compliance, and to building relationships with individual Mayoral Combined Authorities to better anticipate and respond to changes in priorities and needs within each locality.

Anticipating that unrestricted income from statutory sources will continue to reduce dramatically year on year, WEA implemented as part of “Reshape” a new directorate – External Relationships – with a remit to diversify income through three distinct income streams:

The ambition is that WEA Learn develops into a programme that will generate sufficient income to enable a self-subsidised programme of courses in humanities, arts and culture that can be accessible to all learners, regardless of their individual means. Income from statutory bodies and from corporates will enable WEA to introduce new audiences to its brand of learning, and to extend and sustain its offer nationally.

WEA also expanded the remit of the Governance directorate (post-Reshape, the directorate is “Governance and Purpose”) to include responsibility for membership, fundraising, and other functions relating to our charitable purpose outside the scope of education delivery. WEA has always attracted legacies and individual donations, but never at scale. The new Charitable Purpose department within the Governance and Purpose directorate has throughout 2024/25 worked to build the foundations for an organised, scaled-up programme of individual and legacy giving, and to build a case for support for trust, foundation, and corporate giving in the year ahead.

WEA has continued to maintain a strong cash flow profile. It ends the 2024/25 financial year with a DFE financial health rating of “good.”

Impact

WEA continues to support its learners to improve their confidence, develop their skills, get into work, and become healthier. Full details of the impact learning opportunities provided by WEA have had on learners, and the real measurable differences WEA has made to individual learners, their communities and society are included in the latest WEA Impact Report, published in June 2025.

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Strategic report

WEA is a leading education charity, focused on lifelong learning, with a legacy stretching back over 120 years. WEA empowers adults through learning at all stages of life, reaching approximately 27,000 learners annually across England and Scotland.

WEA’s purpose is to bring lifelong learning within reach of everyone who needs it, fighting inequality and promoting social justice. WEA empowers adults by bringing great teaching to local communities across England and Scotland with a mission of providing access to education for adults right on their doorstep. WEA believes that the opportunity for a better future is too often made inaccessible for reasons including cost, location, and a lack of information. WEA is committed to removing barriers to education so that individuals can improve their own life chances and have a positive impact on their communities and society as a whole.

WEA differentiates itself from further education colleges by reaching into communities where learners live and work to deliver learning in familiar, comfortable surroundings. WEA emphasizes smaller class sizes so that learners receive more personal care, attention, and support from tutors. To achieve this, WEA works in partnership with over 500 community-based venues and local networks across the UK, and with likeminded partners internationally.

Long-term strategic plan

The overarching priority of WEA’s long-term strategic plans is to maximise learners’ chances of success by providing an outstanding level of teaching and learning, and by providing additional support to help learners overcome any barriers to learning.

WEA is committed to supporting all learners through exceptional service and high professional standards that result in excellent quality learning experiences that cater to learners’ needs. WEA’s aspirations are to surpass compliance and strive continually to improve teaching. To this end, WEA has invested significantly in creating skilled technical in-house roles and in new digital systems and infrastructure improvements to introduce best-in-class systems for learner records management and all aspects of curriculum development and planning. This digital transformation project was rolled out over two years (2022-2024) and enabled more robust data reporting, enabling speedier and clearer decision-making around curriculum and resourcing for education delivery based on transparent, objective evidence and attention to emerging trends.

WEA will continue to focus attention and resources on the use of technology to improve learner engagement and to make learning more accessible wherever its learners live. It will continue to support teams to deliver the best possible learner experience, to improve learners’ understanding of the outcomes they can achieve, and to support them to track and celebrate their achievements. WEA has made a commitment to providing tailored and timely advice, guidance and support for learners throughout their learning journey.

Throughout 2024/25 WEA’s priorities continued to be aligned to the Creating Opportunities Strategy agreed by the Board of Trustees in July 2022, placing learner success at the heart of all WEA’s activities. As 2024/25 brought us into the final year of the Creating Opportunities Strategy, a major project for the second half of the year was developing the next three-year strategy. Our new strategy – Meeting the Future – was approved by the Board of Trustees in July 2025, for implementation from 1 August 2025.

As in the previous strategy, WEA will continue to demonstrate its commitment to quality and learner success through encouraging and achieving high levels of learner attendance, retention, achievement, and enhancement of personal development, and will maintain ambitious internal targets in these areas accordingly. WEA will also continue its commitment to maximising learners’ chances of success by providing an outstanding level of teaching and learning, and by providing additional support to help learners overcome any barriers to learning.

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Based on current performance, WEA estimates that by the end of the 2025/26 financial year it can realistically achieve:

In response to the volatility of the funding environment and to keep pace with changing learner demographics, the new Meeting the Future strategy places heavy emphasis on income diversification. We know that we must diversify our income and increase the amount of unrestricted income if we wish to continue offering the kind of courses we know our learners want and benefit from, irrespective of their post code and individual means.

The “Meeting the Future” strategy also gives equal weight to campaigning and thought leadership activity, placing this on an equal footing with education delivery. This is a new area of endeavour for WEA and will require some investment. Our ambition is to revive the “WEA Movement” through expansion and diversification of membership and volunteering activities and roles, eventually leveraging these in the interest of fundraising. We have launched new programmes of activity to partner with other charities and education providers to raise awareness of the importance and social and personal benefits of adult education and increased our presence on social media.

2025/26 priorities

WEA’s priorities for 2025/26 will be aligned to its new “Meeting the Future” strategy agreed by the Board of Trustees in July 2025. WEA aims to be known as a charity that delivers lifelong learning, and as a thoughtleader in adult education – a corner of the education sector that is frequently overlooked and therefore requires active support, which we believe we are well-positioned to provide as a national provider of lifelong learning and charity with an active, engaged membership.

Looking at the Association through three lenses (charity, learning provider, business) with our mission and beliefs at the centre, our new strategy sets out five strategic goals that we will work toward over the next three years:

WEA believes that its mission can unite and motivate colleagues and volunteers to deliver life-changing learning to those who need it, and that it can do so in an efficient and effective way to reach as many learners as possible.

Beginning with the implementation of a new operating model in 2024/25, WEA continues to develop its people and build a resilient and responsive culture to embrace the opportunities and challenges it knows lie ahead. The work being done currently to embed the new structure and operating model will be supported through leadership and communication experiences to equip colleagues to deliver against agreed strategies, and to deliver and respond to change in a way that is caring, innovative, and respectful. We will also ensure that volunteers and trustees are equipped to participate in continuous improvement and effectiveness in governance, nationally and locally.

All learners are welcome at WEA

WEA believes that open access to lifelong learning creates a more equal and just society and improves the home lives of our learners and their families. As government funding priorities continue to shift their focus to investment in Skills for Jobs and higher-level qualifications, and to increasingly dictate specific postcodes in which our provision must be offered, WEA will seek to bid successfully for funding to deliver skills for employment provision while also seeking to diversify its funding streams to ensure that tailored learning, arts and crafts, health and wellbeing, and cultural provision can continue to be supported.

Support for provision outside the scope of Skills for Jobs will be sought through effective bidding for the

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public funding that does remain available, while also looking to alternative funders (e.g., government departments beyond DfE, the wider public sector, and corporate partners) to support delivery of skills and employment-related provision to anyone wishing to learn with us, in their communities and online.

We will continue to build our WEA Learn catalogue of arts, humanities, and cultural provision offered at full cost. We have aimed to price these courses competitively with similar offerings in the wider market, with the aim of covering costs, but also to build a fund to support any learner wishing to access these courses, irrespective of their individual means. The remaining funds of a significant legacy WEA received from the estate of a WEA member in 2012 for the benefit of learners in Ilford have been used to trial a pilot programme of self-subsidising WEA Learn provision in 2025/26 for learners in Ilford. This trial programme is being used to develop a model of self-subsidy that we hope to expand nationally as we build a pot of funding to support the type of learning our learners value, but that is no longer supported by statutory funds.

We are mindful that a volatile political environment means that certain areas of provision such as ESOL are potentially under threat, as is access to safe, supportive spaces for teaching and learning for migrant and other marginalized groups. We will campaign actively to ensure the widest possible access for all adults wishing to access education, and for the importance of ESOL provision as a key element of building community cohesion. We will also make a fundraising case for support that helps us to raise sufficient private and unrestricted funds to support provision that statutory funders may choose to restrict, and to support learners who may not be deemed fundable by government.

Responsive learning to meet contemporary needs

WEA believes that everyone deserves to maximise their potential and contribution to society and that engagement with lifelong learning is often how such potential is realized. Whether maximising potential and contributing to society means finding a fulfilling and sustainable place to work, sustaining an active mind and body, or engaging with others in the community around shared interests, WEA learners often report their learning with us is life changing[1] .

WEA enables its learners to flourish through a needs-based curriculum, and innovative and learner-driven approach to teaching, learning, and assessment, and individualized personal support. WEA is and will continue to be effective in delivering a responsive, relevant curriculum that:

WEA will continue to build a curriculum that helps learners to develop essential skills, improve their everyday lives, and build confidence to achieve their personal goals. Our curriculum is broad and balanced, spanning courses to improve learners’ numeracy, literacy, English language, and digital skills, to courses designed to improve confidence, physical and mental wellbeing, communication, nutrition, budgeting and financial knowledge. Learners will progress through clear pathways, ensuring we are working to support an individual learning journey, whether that leads to paid or voluntary work, further study (with us, or with another provider), or a sense of personal accomplishment.

In the area of skills and employability, WEA’s offer will continue to be matched to local and national need and shaped by working in partnership with employers and employer groups. To enable this work, WEA will:

WEA will continue to demonstrate its commitment to quality and learner success through encouraging and achieving high levels of learner attendance, retention, achievement, and enhancement of personal development, and will maintain ambitious internal targets in these areas accordingly.

1 Ofsted inspection of Workers’ Educational Association 2024, p.2 (10299756_workers_educational_130419_final_pdf.pdf)

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Recognising that learner success is tied to tutor engagement and the quality of professional support provided to the tutor base, WEA will continue to build upon the programme of continuous professional development to tutors implemented in 2022/23 including:

WEA continues its commitment to maximising learners’ chances of success by providing an outstanding level of teaching and learning, and by providing additional support to help learners overcome any barriers to learning.

Diversifying our revenues in support of our mission

To remain true to its mission and charitable purpose, WEA must grow and diversify its income streams whilst controlling and monitoring expenditure with the aim of delivering maximum impact in terms of reach and quality of the learner experience. “Reshaping the Way We Work” in 2024/25 enabled us to re-balance our direct and indirect operational costs and central overheads, and to align these with a clear business plan.

In 2025/26, and in the interest of building sustainable income streams, WEA will seek to engage with a variety of funders to understand their needs, and to leverage our strengths and track record to create strong proposals to effectively bid for contracts, retain grants, apply for charitable funding, and develop selffinancing programmes of full cost provision. To this end, we will:

WEA is keenly aware that forecasts in both Scotland and England predict unrelenting pressure on the public purse. We are also keenly aware that the threat to public funding support for much of the provision that WEA has historically offered has begun to accelerate. We have determined the full direct cost of delivering a particular course, and from 2025/26 we will:

WEA believes that it offers adults a life-changing opportunity, but that too few are aware of our impact. WEA will therefore seek to build visibility, awareness and understanding of its offer among adults who could benefit from its provision and make a strong case for grant funding from public policy and funding decision-makers.

WEA acknowledges the inherent challenges in seeking to grow and diversify income in a period of increasing constraints on public finances and rising costs of living. To meet and overcome these challenges we will:

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Positioning lifelong learning at the centre of place-based community planning

WEA believes that vibrant and inclusive communities promote health, happiness, and success at the individual and community level. WEA views itself, and education providers generally, as part of a wider network of community support, sitting alongside public and voluntary sector providers of housing, health and social care, job support, childcare, legal and financial advice services, and other such support.

Our ambition is to establish community hubs across the country, in communities where we know we have a strong learner base and robust volunteer support. We envision our community hubs as a home for our provision that we will share with other community support services to do their work alongside us. We see this as a benefit to our learners who can then access the services they need in a single location, and a benefit to us in helping to demonstrate how education works as an important pillar of social and community support.

WEA will continue to evolve its estate plan in line with our beliefs and ambition, prioritizing the development of community hubs. WEA has used recent grant funding from DfE to invest in the existing estate, and to establish firm anchors in communities where we believe we can make the greatest impact.

WEA has partnered with MyCarbon to support its efforts to evidence social value and achieve a carbon neutral target.

Fighting for broad and economically just lifelong learning

WEA believes that in supporting the development of strong community networks, it can create a WEA family with reciprocal benefits for the individual and their community. In other words, WEA networks can deliver a social contract, creating a responsibility to others and a desire to promote social justice. To enable this work, WEA will:

WEA will seek to embrace the passion of its members, learners, and volunteers to support the WEA mission and to help WEA achieve the full breadth of its charitable aims. WEA will seek to improve its methods of engagement with members and volunteers at the same time as it seeks to broaden its outreach to a more comprehensive range of stakeholders. In the interest of increasing its effectiveness in stakeholder engagement, WEA will:

Governance review

Internal review

WEA concluded its internal programme of governance review in July 2024 with the Board of Trustees’ agreement by special resolution to amend its Articles and Regulations, removing outdated provisions and unnecessary procedural detail, and ensuring alignment with charity law in England and Wales, as well as in Scotland. Among the changes agreed was an increase to the size of the Board of Trustees from 12 to 15 members. Increasing the size of the Board has helped to ensure a robust collective skill set covering all areas of trustee duties and responsibilities and to support a committee structure that provides specialist scrutiny and advice on matters of strategic importance.

Governance development during 2024/25 included trialing a new approach to local governance. The nine Regional Committees that had been in place for many years were wound down in favour of smaller and more numerous Local Advisory Panels (“LAPs”) aligned with MCA funding areas. With a remit to advise on local need, the quality of the learner experience, and opportunities for WEA to extend its charitable reach, LAPs were included within the formal governance structure as sub-groups of WEA Council.

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By June 2025, WEA had 11 active LAPs, with a further nine in recruitment. As most of the active LAPs had been in operation for 12-15 months by June 2025, the Board of Trustees requested that LAP activity be paused while a comprehensive review of LAP performance and effectiveness was undertaken. The review brought to light a number of key challenges, including:

Following a period of consultation with LAP volunteers and WEA Council, the Board of Trustees agreed at a meeting on 11 December 2025 that Local Advisory Panels, as constituted, would be wound down in favour of developing new volunteer roles (i.e., Ambassadors, Champions, Friends) to influence local decisionmakers and organise grassroots initiatives and events. We will continue to convene advisory panels as time-limited groups to work in collaboration with the executive in support of our new strategy.

External review

In accordance with new DfE requirements, WEA undertook an external review of governance effectiveness. The external review was conducted by Stone King who were commissioned in November 2023 and delivered a report to Trustees in July 2024.

Work to ensure full embedding of the changes to the Articles and Regulations, and to work through the action plan agreed by Trustees in consideration of the recommendations made in Stone King’s report on governance effectiveness has formed the basis for governance development and improvement in 2024/25. Key improvements and developments following the effectiveness review have included:

WEA will continue to prioritise governance development work in 2025/26 according to the agreed actions set out in the external review action plan. During the 2025/26 financial year, the Board of Trustees will consider how they wish to approach commissioning the next external review of governance to take place in 2026/27.

All areas of governance are supported by a professionalized governance team focused on enabling adherence to best practice and ensuring effectiveness. Additional information on governance development and improvement appears as part of the report on Structure, Governance & Management beginning on page 24.

Equality, diversity & inclusion

WEA aims to create conditions that ensure colleagues, volunteers and learners are treated solely based on their merits, abilities and potential regardless of their gender, race, religious/political beliefs, ethnic or national origin, disability, family background, age, sexual orientation, or other irrelevant distinctions.

2024/2025 saw the move towards colleague led EDI groups with the formation of WEA Represents. Designed to build on the progress made with the Black Leadership Group and expand our EDI focus to include all protected characteristics. It’s part of our ongoing journey to become a truly diverse, equitable, and inclusive organisation – where everyone feels they belong and are represented as individuals.

Born from shared hopes and expectations identified by colleagues, WEA Represents will:

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behaviours and language

WEA’s Board of Trustees will continue to monitor, scrutinize, and constructively challenge WEA leadership on its effective support and development of WEA colleagues at all levels, and to ensure WEA remains an inclusive employer. WEA’s Board of Trustees has also recognised that it has work to do to improve the diversity profile of its own membership and that of its committees and continues to make progress toward greater diversity among its own numbers. Recent updates to WEA’s governance structure and procedures – e.g., increasing the size of the Board, increased focus on external recruitment, etc. – have supported the Board in diversifying its membership and that of the Board’s committees. The Governance & Nominations Committee continues its commitment to take into consideration the diversity profile of the Board and its committees in recommending the appointment of new trustees and committee members, and in succession planning for Board and committee leadership roles.

Within WEA’s education provision, EDI learner data demonstrates that WEA courses engage a significantly higher number of learners from disadvantaged background and/or with protected characteristics compared to the national demographic profile, including learners from minority ethnic backgrounds, refugees, those with low incomes and qualifications, and those who are older and/or disabled.

WEA seeks to welcome and accommodate all learners, volunteers and colleagues, and is therefore working towards the highest standards of accommodation through its property strategy. Priority continues to be placed on ensuring full accessibility for teaching and learning spaces.

WEA recognises the importance of good mental health support and is committed to improving mental health through its curriculum and learner-centred teaching. According to WEA’s Impact Report (“Beyond Skills: Healthy Minds and Connected Lives,” June 2025):

WEA encourages colleagues to be kind to each other and to talk openly about mental health. Across the UK, WEA maintains a network of 14 colleagues who are certified mental health first aiders. WEA’s mental health first aiders are a point of support for anyone experiencing emotional or mental distress and provide a means of confidential colleague to colleague support. More generally, all colleagues are encouraged to have regular one-to-one meetings where open conversations can take place. WEA’s People, Strategy & Culture team also run several learning and development initiatives including equipping managers with a mental health toolkit, HR drop-in sessions and regular timetabled sessions supporting mental health awareness and management, stress management, and related issues.

OH-One provides occupational health support to support colleagues to remain in work, return to work, and to advise on ill health incapacity. WEA has until October 2025 engaged Westfield Healthcare as our Employee Assistance Programme, providing colleagues and their families with confidential support, advice, and guidance covering health and well-being, and legal and financial well-being. In October 2025, a decision was taken to transition our Employee Assistance Programme to Wellness Cloud, which offers a more comprehensive and accessible service. These organisations keep WEA colleagues well at work and support them in looking after their physical and mental wellbeing using clinical professionals to offer health checks and specialist support from qualified specialists offering practical advice and support.

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Financial review

The WEA has had a strong year in terms of its finances and delivered an operational surplus that exceeded budget expectations.

Despite the strong financial results, performance on MCA contracts was disappointing, which resulted in significant amounts of contractual income not being achieved. This remains the key focus for 2025/26, and a structural realignment was carried out in August to support this area of the business.

The financial statements show total income for 2024/25 of £27.4m (2023/24: £32.7m) with expenditure of £26.7m (2023/24: £28.7m). Operational income has increased by circa £1m largely due to an increase in the Greater Manchester Community Grants programme. We recognised £6.9m of capital grant money in 2023/24 to develop the Estate, and this programme is coming to an end in March 2026.

In 2024/25 income received from the DfE for education delivery reduced to £10.5m (2023/24: £11.9m) due to the devolution of the North East Combined Authority (NECA).

The total income received from MCA areas in 2024/25 is £6.2m (2023/24: £6.2m). This has remained steady despite the addition of the NECA contract and reflects a number of operational challenges that have impacted performance across various contracts this year. MCA contracts are performance based, so failure to hit contractual targets means the full amount of income cannot be claimed.

Income received from fees reduced to £434k (2023/24: £591k). This reduction is primarily driven by the continued shift in MCA priorities away from tailored learning (where most fee income is generated) towards skills.

In 2022/23 the WEA secured 3 capital grants totaling £9.6m to improve and develop its estate. This money has been used to refurbish properties in Bristol, Scunthorpe and Nottingham, and to purchase and refurbish a property in Brighton, turning them into vibrant community learning hubs. The remaining £1.6m of grant money will be spent next year.

Total spend on charitable activities decreased to £25.5m (2023/24: £27.4m) largely due to the restructure at the end of 2023/24 that reduced overheads by over £2m.

The WEA’s net movement in funds for 2024/25 is £0.7m (2023/24: £3.6m) after transfers and pension adjustments. There is a surplus of £3.4m on unrestricted funds, £0.9m of which represents operational surplus and increases ‘free’ unrestricted funds to £5.1m (2023/24: £4.1m).

Designated reserves increased by £2.4m to £11.3m, and restricted reserves decreased by £2.7m to £2.3m as we continued to spend the capital grant on the Estate.

Reserves Policy

Total funds at 31 July 2025 were £19.1m (2023/24: £18.5m). This is represented by unrestricted funds of £16.4m and restricted funds of £2.7m.

For the purposes of this policy, the WEA has defined free reserves as being its unrestricted funds, excluding the designated fixed asset fund and any pension deficit, should it arise. The free reserves balance as at 31 July 2025 is £5.1m.

When considering the minimum free reserves balance the Trustees considered the amount that would be required to cover the resulting costs if the WEA were to lose varying amounts of income and has also ensured that the level of reserves will be sufficient to cover known outstanding payments on the TPT pension scheme. In all scenarios a range of between £3.5m and £4m was considered to be sufficient.

The WEA Reserves Policy is subject to regular review considering new risks and circumstances faced by the WEA. The policy is therefore reviewed by Trustees at least annually or more frequently upon advice of senior management in the event of a material change occurring that warrants any earlier or additional review.

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The level of free reserves is a Key Performance Indicator set out in the organisation’s Business Plan and, as such, progress is monitored regularly at Committee and Trustee meetings.

Investments & Treasury Management

As set out in its Articles of Association, WEA has absolute discretion to invest money not immediately required for expenditure. The responsibility for the performance of investments rests with the Finance & Capital Resources Committee, which reports to the Board of Trustees. The objective of WEA’s Treasury Management Policy is to optimise returns consistent with cash flow requirements and with an overriding need to protect the capital value of WEA’s funds. The policy was reviewed in 2025.

Treasury management is carried out within the context of WEA’s statutory requirements, its Financial Regulations, guidance set by the Charity Commission (CC14) and guidance set by the DfE principally through the College Financial Handbook. WEA funds are deposited only with UK banks that meet the criteria stated in the Treasury Management Policy. Investments are not made in any other financial instruments. It is important to note that, as in previous years, WEA has had no exposure to any known financial institution at risk.

Principal Funding Sources

WEA receives its principal funding from DfE, which provided 41% of WEA’s income from all sources and activities for the year, excluding one-off capital grants. There are no outstanding loans against WEA.

Pensions

The WEA’s defined benefit pension scheme at 31 July 2025 (under FRS102 principles) is an asset that is capped at a ‘nil balance’ on the Balance Sheet as the asset is not recognised in line with accounting practice. Estimates used by the actuary in the calculation of this accounting valuation have been benchmarked by the Trustees and are considered appropriate.

Further details relating to the pension schemes operated by the WEA are shown at Note 18 to the accounts.

Cash Flow & Capital Expenditure

In line with the Treasury Management Policy, WEA aims to maintain a healthy cash position, and its cash reserves are sufficient to ensure that balances are not overdrawn. Based on the two-year cash flow projections to July 2027 returned to DfE in July 2025, WEA does not anticipate any liquidity problems.

Cash and short-term deposits for the year ended 31 July 2025 were £9.8m (2023/24: £13.6m).

Funds held as Custodian Trustees on behalf of others

WEA does not hold funds as Custodian Trustees on behalf of others.

Commercial Activities

WEA does not currently engage in any substantial commercial activities. The trading company, WEA Trading Limited, a wholly owned subsidiary of WEA, has not traded to date.

Fundraising Statement

Although WEA does not raise substantial amounts of private funds, it is nevertheless dedicated to ensuring that any fundraising remains closely aligned with the Association’s mission and values, and to ensuring efficiency in its approach. A guiding principle in its fundraising efforts is to work with a range of partners

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from corporate organisations to a range of charities and associations across the UK. WEA performs due diligence on all corporate donors including any gifts in kind. WEA does not use professional fundraisers or commercial participators to conduct any fundraising activities and so no monitoring activities are required.

WEA volunteers are supported and stewarded by the Volunteering Manager. In 2024/25, WEA did not receive any complaints regarding its fundraising activities (2023/24: 0). WEA is a member of the Fundraising Regulator and as such follows the Code of Fundraising Practice.

To ensure compliance with the Charities Act 2022, WEA follows the guidelines set out by the Institute of Fundraising on all donors with the four guiding principles of respect, fairness, responsiveness and accountability applied for all donors and members of the Association.

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Risk management

The Board of Trustees monitors WEA’s risk profile as recorded in WEA’s corporate risk register. The risk register is informed by operational risk registers maintained for discrete projects (e.g., digital transformation) and business areas (e.g., business development, contracts). Leadership Team have a collective responsibility for reviewing and updating the corporate risk register. The systems and procedures established to manage risk are regularly reviewed by the Audit & Risk Committee and reported to the Board of Trustees. The Board of Trustees has also reviewed the adequacy of WEA’s internal controls.

The corporate risk register includes action plans for each of WEA’s key risks and a summary highlighting the current and changing status of those risks against a target risk score. The Audit & Risk Committee reviews the risk register at each quarterly meeting, receives summary updates on risk management activity, and invites members of WEA management to present on significant issues.

The Audit & Risk Committee and Leadership Team have worked in partnership throughout 2024/25 to substantively update WEA’s statement of risk appetite and its risk register in line with its post-Reshape activities and priorities. This work has included extensive individual and collective consultation with WEA’s Leadership Team and with committees of the Board of Trustees to enhance Board and committee oversight, sharpen strategic focus and clarify management accountability for the proper and thorough identification, assessment, and management of risks.

In 2025/26, further work will be undertaken to develop a fully refreshed risk register aligned to the goals and objectives set out in the Meeting the Future strategy. A new format risk register including indicative scoring of all key risks was accepted by the Audit & Risk Committee at a meeting on 26 November 2025 for implementation from January 2026. Further development and refinement of the risk register will be ongoing throughout the remainder of the 2025/26 financial year.

The Board of Trustees currently receives the corporate risk register at least annually and receives reports from the Audit & Risk Committee on a quarterly basis.

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The risks deemed to have the most significant impact on WEA should they manifest are set out below as WEA’s principal risks:

Top five risks with mitigating actions taken:

Risk Mitigating actions taken
Insufficient tutor base
to support curriculum		 Like many education providers, WEA has experienced persistent difficulties with
tutor recruitment over the last two years, particularly in high-demand specialist
areas such as Maths and English. Recruitment difficulties have negatively
impacted on our ability to deliver fully against contracts in some MCA areas. In
2024/25, we successfully increased our core tutor base, and this continues to
grow with recruitment nationally strong. Specific geographies remain
challenging, however, particularly in rural areas in England.
Negative judgment by
regulator		 Although WEA was recently inspected by Ofsted and received an overall grading
of “good,” this risk has been elevated following the circulation of the new Ofsted
inspection framework, which includes a number of significant changes.
Recognising that an Ofsted inspection can happen at any time, and given the
number of current unknowns in terms of how the new framework might be
applied, WEA is working actively to understand and apply the new framework to
all relevant areas of our teaching and learning provision, and to ensure we meet
a minimum standard of “secure” in all areas of the new five-point grading scale.
While this risk is specific to England, any negative judgment by a regulator has
the potential to impact our eligibility for funding in England as well as in
Scotland.
Loss of income Performance against MCA contracts was poor in 2024/25. Adjustment to
leadership portfolios and some further reorganisation of teams was undertaken
in early 2025/26 to ensure adequate resourcing for all contract areas. Monthly
monitoring of individual and collective contract performance is now routine,
and improvements in data reporting have been made. Contract delivery is now
stable, but close monitoring will continue to ensure we demonstrate the ability
to deliver MCA contracts across the board in 2025/26. Contract performance in
Scotland is largely positive, however increasing competition for shrinking pots
of funding in Scotland also contributes to this risk.
New business of £1.3m has been budgeted for 2025/26 and this will be
Failure to grow and monitored closely. The External Relationships team is committed to
diversify income developing two new commercial income streams and to bring in £1m+ of
statutory income across England and Scotland. As this is a new area of
endeavour for the organisation, progress has been slow but is building
momentum.
The nature of WEA’s funding and commissioning environment means that this is
Failure to meet or an area of higher inherent risk than others. However, over the 2024/25
demonstrate financial year the assessment of risk has been elevated as a series of events
compliance with funder and interactions with MCA commissioners have uncovered blind spots and slow
requirements response to changes in the funding environment as providers and MCAs
themselves are under increasing pressure to meet demand while dealing with a
rapidly shrinking funding pot. We have addressed this risk through greater
rationalisation and rigour in the WEA curriculum planning for subsidized learning
provision, with courses falling outside the scope of MCA or DfE funding now
removed to the unsubsidized “WEA Learn” curriculum. Most MCA contracts are
on target in 2025/26, and where enrolments are lagging contracts are being
actively managed in collaboration with the relevant combined authority.

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Fraud Risk Assessment

The risk of financial fraud at WEA is low. On behalf of the Board of Trustees, the Finance & Capital Resources Committee receives a quarterly financial report, which includes management accounts. The committee also has oversight of capital projects and receives regular reports on procurement and performance against project budgets. A separate Audit & Risk Committee receives a quarterly risk register, including an assessment of financial risks. The full Board receives the management accounts (quarterly), consolidated risk reports (quarterly), and the risk register (at least annually).

WEA maintains strong internal controls supported by Financial Regulations and policies which have been recently updated and are regularly reviewed. Financial controls are routinely tested through internal and external audits. Auditors consistently confirm a high level of assurance that these are robust.

Financial policies, including Fraud Prevention, Anti-Bribery & Corruption, and Whistleblowing were updated in 2024 and are scheduled for the next review in 2027. Information security and fraud awareness are addressed through induction training modules offered to colleagues and volunteers as part of onboarding and refresher training.

Going concern

The trustees have assessed WEA’s ability to continue as a going concern. The trustees have considered several factors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these financial statements. This has included a review of budgets and cash flow forecasts through to July 2027 and consideration of the key risks, including devolution and forecast changes in the split between restricted and unrestricted income. WEA has prepared a number of financial scenarios and the trustees consider that the WEA is well positioned to manage its business risks successfully. After consideration and enquiry, the Trustees have a reasonable expectation that the WEA has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Trustees continue to adopt the going concern basis in preparing these financial statements.

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Structure, governance and management

Status

WEA is a charitable company limited by guarantee (number 2806910), incorporated on 5 April 1993 and registered as a charity in England and Wales (number 1112775) and Scotland (number 2806910).

Governing documents

WEA is governed in accordance with the object and powers set out in its governing documents, the Articles of Association and Regulations (last amended 11 July 2024). The governing documents are available to the public through the WEA website at: Our Ref: (wea.org.uk)

Object of WEA

The object for which WEA was established is to promote adult and general education for the benefit of the community, regionally, nationally, and internationally based on democratic principles in its organisation and practice, through the participation of its voluntary members. In pursuit of this object, WEA has the following aims:

WEA operates at local, regional and national levels, providing lifelong learning online and in-venue across England and Scotland. Courses are created and delivered in response to local need, often in partnership with local community groups and organisations. There is a proud tradition of voluntary and democratic process within WEA. Association Members are involved in the planning and provision of courses – in 2024/25, there were 75 active Branches and four Local Associations through which courses were delivered to self-selecting groups of learners – as well as in the local and national governance of WEA.

WEA maintains staffed offices across England and Scotland. The largest of these offices is in Leeds. WEA’s registered office is in London.

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Public benefit

WEA is a public benefit entity, the charitable object of which is to promote adult and general education for the benefit of the community regionally, nationally and internationally based on democratic principles in its organization and practice, through the participation of its volunteers and members.

WEA’s Trustees confirm that they have due regard for Charity Commission’s guidance on public benefit and believe it to have been consistently applied, that the requirements of section 17 of the Charities Act 2011, and the requirements related to annual reporting within the Protection & Social Investments (Charities) Bill 2016 have been fully met when exercising any powers of duties to which the guidance relates.

Board of Trustees

The Board of Trustees is WEA’s governing body, comprising fifteen Trustees. The Board of Trustees has ultimate responsibility for the strategic direction of WEA. Trustees are also the Directors and Members of the Company.

Per its Articles of Association as updated 11 July 2024, the composition of the Board of Trustees is as follows:

WEA has not appointed any Funder Trustees.

In consideration of guidance from DfE, and the Charity Governance Code (larger charities), the Board of Trustees has within the last four years recruited and appointed Trustees having qualifications in accounting, human resources and organisational development, and knowledge of the public sector and public funding.

The Board of Trustees meets at least four times a year to ensure that WEA’s activities carry into effect the charity’s object. Their work includes providing strategic oversight, scrutinising WEA’s financial performance and the performance of its management, agreeing budgets, monitoring the quality of educational provision and the safeguarding of beneficiaries and stakeholders, and reviewing current policies, initiatives, activities, and plans. The Board of Trustees is supported by six committees which meet termly or quarterly, according to terms of reference agreed by the Board. A further two committees meet on an as-needed basis to deal with succession planning and appointments to the Board and/or committees (Governance & Nominations Committee) and the remuneration of senior post holders (Remuneration Committee).

The Board of Trustees is currently chaired by a co-opted Trustee. In accordance with Article 10, a Deputy Chair of Trustees, appointed from among the sitting members of the Board of Trustees, chairs meetings of the Board of Trustees in the event of the Chair’s unavailability. The Deputy Chair also supervises the annual performance review of the Chair of Trustees. Trustees, whether appointed or elected, serve on the Board for a term of four years, renewable subject to re-election (in the case of elected trustees) or re-appointment.

Committees of the Board of Trustees

WEA Trustees implemented its current scheme of committees in August 2021. The committee scheme was agreed with the aim of improving WEA’s demonstrated adherence to the Charity Governance Code (adopted by Trustees as the WEA’s code of governance in 2018). Trustees understand the role of the committees to be to apply detailed, specialist scrutiny to matters within their remit, and to support the Board of Trustees in performing specific duties or oversight more thoroughly and effectively than it could otherwise do acting together as a full board.

All committees of the Board of Trustees remain non-executive. Save for the Audit & Risk Committee, the committees do not have delegated authority to undertake investigations or to take independent professional advice without prior authorisation from the Board of Trustees.

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Committees of the Board of Trustees generally meet on a quarterly basis to receive detailed reports and make detailed enquiries on strategic organisational matters, reporting back to the full board at each subsequent meeting.

During the 2024/25 financial year there were eight delegated committees of the Board of Trustees. These were:

Audit & Risk Committee – The Audit & Risk Committee assisted the Trustees in discharging its oversight responsibilities by reviewing the effectiveness of WEA’s internal controls and compliance systems and, on behalf of the Trustees, reviewed the performance and results of external and internal auditors’ work, and reviewed and monitored the preparation and production of the Trustees’ Annual Report. On an annual basis, it recommended the appointment of auditors to the Board of Trustees and, on their behalf, approved the auditors’ terms of engagement.

Education Committee – The Education Committee supported the Board of Trustees in meeting its responsibilities for strategic leadership of educational provision in England and took assurances on their behalf regarding the development, monitoring and application of education policies, learner welfare (including safeguarding) and the learner experience, the quality of education offered and adherence to relevant regulatory and inspection standards.

Finance & Capital Resources Committee – The Finance & Capital Resources Committee supported the Board of Trustees in discharging their responsibilities to ensure sound business planning and budgeting in the interests of WEA’s long-term financial health and sustainability, in part through quarterly review of management accounts and financial forecasts. The Committee takes responsibility for overseeing the production of the year-end financial statements. The Committee advised Trustees on the application of WEA’s funds and other assets in accordance with its charitable purposes and the public benefit duty, and on compliance with the requirements and expectations of its funders.

People Committee – The People Committee focused on WEA’s HR strategy, volunteering strategy, EDI, and health and safety. It ensured ongoing review of organisational effectiveness, and the maintenance of an organised and clear management structure, with well-understood delegations. Regular reports were received from the executive on the outcome of meetings with the recognised trade union (Unite). The Committee supported WEA in its aim to exceed its statutory responsibilities for equality and diversity. The Committee also received regular reports on employee health, safety, and well-being at work.

Scotland Board – The Scotland Board promoted the profile of WEA in Scotland by supporting and facilitating the communication, engagement and consultation with WEA Scotland’s members, learners and stakeholder groups. It supported the Board of Trustees in meeting its responsibilities for strategic leadership of educational provision in Scotland, including providing assurances on adherence to relevant regulatory and inspection standards in Scotland. Scotland Board also supported and promoted the Association-wide understanding of Scotland-specific educational policy, legislation, and funding relating to adult education, making recommendations to the Board of Trustees as appropriate.

WEA Council – WEA Council’s purpose and remit are set out in WEA’s Articles of Association. Its principal function was and continues to be to promote the democratic involvement of all Association Members, and effective communication between the Association’s stakeholders and the Board of Trustees. In practice, WEA Council is an important forum for discussion of shared interests across communities across England and Scotland. At any time, there are at least four Trustees who are members of WEA Council, two of whom must be trustees elected by the Association Members. The President (an elected trustee) chairs the WEA Council.

Remuneration Committee – The Remuneration Committee determined the pay and conditions for WEA’s senior post holders – i.e., CEO/GS, CFO, and Director of Governance & Purpose (Company Secretary).

Governance & Nominations Committee – The Governance & Nominations Committee oversaw the recruitment and ongoing support and development for Trustees and the non-Trustee members of the committees of the Board of Trustees, considering the diversity and skills profiles and needs of each group.

Each committee of the Board of Trustees includes at least two and ideally three Trustees as members of the committee. Other committee members are drawn from the Association Membership. Where appropriate skills are not found within the Association Membership, committee members may be externally co-opted. An exception is the Remuneration Committee, which includes only Trustee

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members.

Trustee attendance figures for Board and Committee meetings can be found on page 34.

Election of association officers & the Annual conference

Members of the Association make direct contributions to the governance of WEA through the election of Association Officers and the Annual Conference. In accordance with the governing documents, Association Officers are elected to office by the Association Members and subsequently appointed as Trustees, subject to assurance of their statutory eligibility.

The Annual Conference, organised by the WEA Council, provides opportunity for Association Members to receive reports from Trustees and the WEA Council on the year’s activities, and to influence the overall direction of WEA through bringing forward motions for consideration.

Trustee recruitment, induction & training

WEA seeks to encourage diversity in its widest sense within the governance structure. The WEA’s Articles of Association set out the categories from which Trustees are elected and appointed.

Co-opted Trustees : Trustees who are co-opted to the Board are sought through advertisement and/or recruitment search agencies. Current practice is to seek suitable co-opted trustee candidates first from within the Association Membership, and then through external recruitment if suitable internal candidates are not found. As part of the process for appointment, the Governance & Nominations Committee convenes a panel to oversee the shortlisting and interviewing of candidates prior to a recommendation to the full Board for approval. Co-opted Trustees are required to undertake a DBS check and to confirm their statutory eligibility to serve as a Trustee and Company Director ahead of any appointment.

Association Officers : Following election by the Association Members to the role of President, Deputy President or Treasurer, an Association Officer is appointed a Trustee ex officio , subject to interview with members of Governance & Nominations Committee (in accordance with Article 19), DBS clearance, and confirmation of their statutory eligibility to serve as a Trustee and Company Director.

Once appointed to the Board, Trustees are supported by a comprehensive programme of induction arranged by the Head of Corporate Governance. In addition to induction, new Trustees are encouraged to meet colleagues, and to take part in local and national activities. All Trustees are encouraged to undertake governance development training offered by the Education Training Foundation (“ETF”).

Chief Executive & General Secretary

In accordance with the Articles of Association, the CEO/GS is appointed by the Board of Trustees to manage the day-to-day operations of WEA and is accountable to the Board of Trustees via the Chair. The CEO/GS is WEA’s Accounting Officer for DfE reporting purposes.

Powers delegated to the CEO/GS include the implementation of policy and strategy adopted by the Trustees, to be carried out within a budget approved by them from time to time. The CEO/GS has a duty to report back to Trustees regularly. In practical terms, this means that the CEO/GS is a regular attendee at meetings of the Board of Trustees and has a standing reporting item on each agenda. To support the effective coordination of business between Trustees and Council, the CEO/ GS also meets regularly with the WEA Council to ensure its members are adequately informed of WEA activities.

The CEO/GS works with the Leadership Team as identified in the Reference and Administrative Details on page 4.

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Leadership team

Leadership Team meets least monthly over two to three days and reviews the quality and effectiveness of teaching and learning activity, organisational performance against the strategy and budget agreed by Trustees, performance against grants and contracts, current and future resourcing needs, emerging risks, and forward planning.

Bidding activity for new or renewed contracts and the success rate of bids is regularly reported to Leadership Team and reported on to Trustees by the CEO/GS on their behalf.

Review & remuneration of senior employees

A Remuneration Committee (“RemCo”) was constituted in 2021 to consider and agree the remuneration of senior post holders (in 2024/25, senior post holders were: the CEO/GS, CFO, and Director of Governance & Purpose/Company Secretary). 2025/2026 has seen a change to RemCo’s terms of reference and procedures for the recommendation of Senior Post Holders’ remuneration to the Board for approval. The committee’s terms of reference and procedures have been amended to ensure clear alignment with Senior Post Holder effective appraisal guidance and the Weston College intervention assessment recommendations.

Salaries for other Leadership Team posts are in principle set by the CEO/GS within the salary structures laid out and aligned to the WEA Colleague Pay Review agreement and within the scope of budget constraints agreed annually by the Board of Trustees. There were no senior appointments made during 2023/24 or 2024/25.

Performance objectives of the CEO/GS and members of the Leadership Team are aligned to the strategic deliverables as set out by the Board of Trustees and reflected in the Business Plan and Budget which is approved by the board annually in July for the next financial year.

Remuneration details are set out in Note 6 to the financial statements.

Engagement with employees (CA2006 Section 172 Disclosure)

This report on WEA’s compliance with Companies Act 2006, section 172 (“CA2006 s.172”) should be read in conjunction with the Strategic Report on pages 11 – 17. CA2006 s.172 as applicable to incorporated charities requires Trustees (who are the Directors of the Company under CA2006) to take into consideration the interests of employees and other stakeholders in their decision-making. Trustees continue to have regard to the interests of WEA’s employees and other stakeholders, including the impact of its activities on the community, the environment and WEA’s reputation, when making decisions. Acting in good faith and fairly between members, the trustees consider what is most likely to promote WEA’s success for its learners, volunteers, and Association Members in the long term. Whilst the importance of giving due consideration to stakeholders is not new, WEA is explaining in more detail how the Board engages with stakeholders, thus seeking to comply with the requirement to include a statement setting out how Trustees have discharged this duty.

Trustees are fully aware of their responsibilities to promote WEA’s success in accordance with CA2006 s.172. Ongoing support and periodic training from WEA’s legal advisors, Bates Wells, is provided to ensure the Board continues to operate in line with good corporate practice and to respond to changes within the sector. In January 2023, Trustees received updated training and detailed legal advice on their duties and obligations following reclassification as a public sector body.

The Board has overseen the development and launch of a new three-year strategy that confronts the reality of shrinking public funding, and the impact increasing restrictions funders are placing on the use of funds has on our ability to deliver fully against our charitable mission. The “Meeting the Future” strategy responds not only to the material changes in the permissible use of funding from the Department for Education (directly and via devolved authorities) but also addresses the reality that the communities WEA serves have different needs requiring tailored solutions, not all of which remain fundable per new restrictions on the use of statutory funding. The Board has therefore begun to work closely with the CEO/GS to develop and implement a plan for income diversification, and to build capacity in teams responsible for campaigning and fundraising activity to ensure that our learners and volunteers can continue to benefit from our provision and have influence on decision-making within the Association.

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The Board continues to enhance its methods of engagement with the workforce. WEA seeks to engage all employees and volunteers in its activities and achievements, and to this end the ongoing review of WEA governance has resulted in changes to the composition of WEA Council to ensure there are elected seats available to representatives from teaching and non-teaching colleagues and learners, to sit alongside the volunteers who have constituted the majority on this direct committee of the Board of Trustees.

Through these activities, Trustees reflect ( inter alia ) on how WEA engages with its stakeholders and opportunities for enhancement in future.

There continues to be a range of regular communication methods including management meetings, team meetings and newsletters to ensure that all colleagues are kept informed of WEA activities and achievements. There is a monthly “town hall” for colleagues held online, led by the CEO/GS, and focused on communicating key changes and developments in how we work, or external issues impacting on our education delivery. The “WEA Communities” newsletter is circulated at the end of each month to the wider community of volunteers and Association Members and includes an update from the CEO/GS as well as an update from the President alongside spotlight reports on learner and volunteer activity and upcoming events.

WEA’s recognised trade union is engaged in consultations of terms and conditions, including pay awards, through the Joint Negotiating Consultative Committee.

WEA aims to work responsibly with its subcontractors, particularly those involved with the delivery of provision and other services relating to WEA’s contracts with devolved combined authorities. Throughout the year, WEA has offered support in the on-boarding of its subcontractors by sharing its delivery needs and the support available within WEA to enable effective relationships.

Streamlined Energy and Carbon Report (SECR) Statement

As WEA is classified as a large unquoted company under the definitions set in Section 465 and 466, Chapter 15 of Companies Act 2006, it needs to comply with the new government legislation implemented by The Companies (Directors’ Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 (“the 2018 Regulations”) on Streamlined Energy and Carbon Reporting (SECR).

To fulfil this, we have measured our UK energy and greenhouse gas emissions as classified within Scope 1, Scope 2 and the mandatory element of Scope 3 of the Streamlined Energy and Carbon Reporting (SECR) regulations, which are presented in tables 1, 2 and 3 as these are material to our organisation’s activities.

Organisational and operational boundaries of WEA

WEA’s structural and operational boundaries are the same. During the reporting period, the Company operated from multiple locations within the UK. The company's registered head office is located at 4 Luke Street, London, EC2A 4XW.

Environmental Performance

Workers' Educational Association decided to follow and adapt, for SECR reporting, a widely recognised “ The GHG Protocol Corporate Accounting and Reporting Standard” methodology.

As at 31 July 2025 the Group’s energy usage and associated carbon emissions for the SECR Year 1, 1 August 2024 to 31 July 2025 were as follows:

Energy Type: Energy Type: Energy Use
(kWh)		 Greenhouse Gas Emissions (GHG) Greenhouse Gas Emissions (GHG)
Location-Based
Methodology
(tCO2e)		 Market-
Based
Methodolog
y
(tCO2e)
Combustion of
Gas		 (Scope 1) 379,447 69.4 39.3
Electricity (Scope 2) 517,225 91.5 65.6
Transport (Scope 3) 371,989 90.5 90.5
Total (Scope 1,2
& 3)		 1,268,661 251.4 195.4*

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Table 1: Total energy consumption and associated greenhouse gas emissions from Scope 1, 2 and Scope 3 for SECR Year 1 reporting period

*As we are directly responsible for procuring the electricity and gas used across our offices, and where this energy is sourced from renewable suppliers, we have chosen to report on our greenhouse gas (GHG) emissions using both the location-based and market-based methodologies. This approach demonstrates our commitment to reducing GHG emissions while maintaining full compliance with Streamlined Energy and Carbon Reporting (SECR) requirements through the inclusion of the location-based methodology.

Intensity ratio

Intensity ratios compare emissions data against a relevant business metric or financial indicator, enabling performance comparisons over time and with similar organisations. For this report, we have chosen to express overall energy consumption and associated GHG emissions in relation to our annual turnover for the reporting period. This provides a meaningful measure of energy efficiency and carbon performance relative to business activity.

SECR
Reporting Period:		 Intensity Ratio Intensity Ratio
(kWh /£100,000 turnover) (tCO2e /£100,000
turnover)
2024-25 4,630.0 3.43

Table 2: Energy consumption and associated greenhouse gas emissions per £100,000 of annual turnover. Energy intensity ratios are calculated and presented as advised by the Department for Energy Security and Net Zero (DESNZ).

Energy Efficiency Actions

During the 2024–25 reporting period, WEA continued to proactively review its property portfolio and identify opportunities to improve energy performance.

We have replaced outdated, energy-inefficient lighting with modern LED fittings and enhanced automatic lighting controls across six of our offices.

We are delivering colleague awareness training to promote energy efficiency and sustainable working practices.

We plan to develop on-site renewable energy generation through the installation of photovoltaic (PV) solar panels to produce electricity.

We continue to encourage the use of video conferencing and online meetings as an alternative to car-based business travel.

Additionally, we procure electricity and gas for all properties under our responsibility from 100% renewable sources, supported by Renewable Energy Guarantees of Origin (REGOs). This approach reduces our overall carbon footprint by more than 20% and lowers building-related GHG emissions by nearly 35%.

Methodology

WEA decided to follow and adapt, for SECR reporting, a widely recognised GHG Reporting Protocol – Corporate Standard methodology.

Total annual energy consumption within Scope 1, Scope 2 and the mandatory element of Scope 3 were calculated based on recorded consumption data for the financial year 2024-25 (1 August 2024 to 31 July 2025). Therefore, this period complies with the legislation and is deemed the compliant SECR Year 1 reporting period.

Energy consumption data have been collected and aggregated for all WEA sites using verifiable sources. Where direct data were unavailable, such as for service-charged premises, energy usage was estimated using relevant industry benchmarks published by CIBSE and BEIS.

For the calculation of carbon emissions associated with the audited properties, the UK Government’s approved conversion factors, as published by the Department for Energy Security and Net Zero in the “Conversion Factors – Energy and Carbon Conversion” dataset, have been applied in line with recognised company reporting standards.

Activity Fuel Unit Year kgCO2e
Electricity
generated		 Electricity: UK kWh 2025 0.177
Gaseous Fuels Natural gas kWh 2025 0.18296

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Table 3 – Energy and Carbon Conversion Factors (Scope 1 & 2)

As we do not operate any company vehicles, all transport-related energy use and associated GHG emissions arise solely from the use of grey fleet vehicles (privately owned cars used for business purposes). The transport analysis has been based on financial records (mileage claims) provided by the Accounts Department. The relevant DESNZ conversion factors for “unknown fuel – average car” have been applied.

Vehicle Type Fuel Year kWh/mile kgCO2e/mile
Average car Unknown
Fuel		 2025 1.10679 0.26915

Table 4 – Energy and Carbon Conversion Factors (Scope 3)

Charity Governance Code

The Board of Trustees adopted the Charity Governance Code (larger charities) in 2018 and have discussed and assessed the organisation’s performance against the Code’s main principles and recommended practices since that time, and as updated in 2020. WEA’s adherence to the Code and its principles formed a significant part of the external review of governance effectiveness carried out between January and July 2024, and which judged WEA’s governance as effective.

Following updates to the Charity Governance Code in 2020, Trustees have considered their approach to putting into practice the Code’s EDI principles across WEA, and how Trustees and others involved in governance can demonstrate adherence to the enhanced integrity principle.

Principles of Equality, Diversity, and Inclusion – WEA received provisional IID accreditation in March 2022. Through the process of governance review, Trustees and members of Council identified certain provisions in WEA’s Articles & Regulations which were felt to inadvertently impede greater diversity within the formal governance structure. Such provisions were modified or removed when updating the Articles and Regulations in July 2024. Significant modifications made with the explicit aim of improving diversity included amendments to the composition of the WEA Council, expansion and modification to the Board’s composition, and the constitution of a Nominations Committee (now Governance & Nominations Committee).

Principle of Integrity – Trustees have sought to address power imbalances within and across WEA’s governance structure by introducing term limits on non-trustee appointments. Non-trustee members of committees and Advisory Panels are now limited to two terms of three years’ service on any one committee or panel. In December 2022, the Articles were changed to introduce absolute term limits on Trustee appointments, closing a loophole in the Articles which created potential opportunities for certain individuals to remain on the Board of Trustees for as long as six terms of four years. Such provisions were retained in the new Articles brought into effect in July 2024.

WEA continues to work toward greater and explicit adherence to the Charity Governance Code. It continues to make significant improvements in areas where weaknesses have been previously identified.

Leadership – Succession planning on the Board of Trustees has been addressed through the appointment of a Deputy Chair and agreement of a clear role description for the Deputy Chair. The Board has also agreed a Succession Planning Policy and convened a Governance & Nominations Committee to oversee the recruitment of new Trustees, anticipate upcoming vacancies on the Board and on committees of the Board, and to ensure the conduct of periodic skills audits.

Decision-making, risk, and control – Decision-making and delegation has been refined through clarifications in the designation of senior post holders having direct responsibility to the Board of Trustees, and to whom the Board may delegate directly. Delegation to committees is now clearly documented in upto-date terms of reference. The Audit & Risk Committee maintains oversight of WEA’s risk appetite and the overall scoring and assessment of high-level risk. Frameworks for the identification and assessment of risk are being strengthened through implementation of clearer, more rigorous programmes of review at operational level, with Leadership Team taking a more active role in overall risk management.

Board effectiveness – WEA has progressively updated and reformed its governance structure, practices and procedures over the course of the previous five years. In 2023/24, in accordance with DfE guidance on

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strengthening governance and conditions of funding, WEA undertook an external review of its governance effectiveness, commencing in January 2024. The law firm Stone King was engaged for this purpose. In the judgment of Stone King:

taking account of meeting observations, discussions and documentation available, [the] review recognises that the governing of the WEA Board of Trustees is committed, positive, challenging and demonstrates ambition. There is a supportive and enquiring governing culture. Significant development of the governance framework undertaken over recent years has positively impacted governing effectiveness.

Following formal receipt and acceptance of Stone King’s report on WEA governance effectiveness at a meeting on 11 July 2024, the Board of Trustees has agreed an action plan which has guided further governance development and improvement over the course of the 2024/25 financial year. A summary of Stone King’s report is available on the WEA website.

The Board of Trustees has received an update on the new iteration of the Charity Governance Code published in November 2025, including a review of key changes. Work will be undertaken in early 2026 to ensure WEA governance adheres to all relevant provisions of the new Code as applicable to larger charities.

Governance review

During the 2023/24 financial year, WEA adopted new Articles & Regulations which updated and simplified language throughout and reformatted the Articles to broadly follow the format of model articles for “foundation” type charitable companies. The charity’s objects, aims and principles were unchanged. Other changes to the Articles & Regulations included:

Provisions in the Articles allowing the appointment of funder trustees were retained in accordance with requirements of WEA’s funding agreements with DfE and MCAs in England. There are currently no funder trustees on WEA’s Board of Trustees.

The adoption of new Articles & Regulations was the last stage in the governance review of WEA which commenced in 2018. The Board and committee arrangements enabled by the new Articles, the local governance arrangements set out in Regulations, and an expanded, professionalised governance team mean that WEA is structured and resourced to ensure its governance structures, procedures and practices are kept up to date and remain aligned with the guidance set out in the Charity Governance Code (larger charities) as updated in 2020, and with DfE’s statutory guidance on supporting governance.

Trustees are aware that the funding and regulatory world outside of WEA is changing rapidly, and that WEA is obliged to respond to these changes to secure its future. Together with WEA Council, Trustees have worked to build and maintain clear lines of sight from the Board to the local communities WEA serves, placing priority on the following areas:

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Workers’ Educational Association trustees’ annual report and accounts 2024/25

Local Advisory Panels, implemented in 2022/23, worked throughout the year to provide assurances to the Board of Trustees and other stakeholders that WEA is meeting local need (as defined by funders, and needs identified outside the scope of funding agreements), surfacing and responding effectively to learner feedback, and identifying opportunities for WEA to extend its charitable reach. WEA’s network of Local Advisory Panels was initially aligned to areas of devolved funding in England with provision for additional Local Advisory Panels to be constituted in non-devolved areas on the recommendation of Association Members. Local Advisory Panels were paused to work in June 2025 to enable an assessment of effectiveness, and for consideration to be given to the sustainability of the local governance model considering the rapid acceleration of devolution, and devolution to county level in some areas.

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Attendance at Board and Committee Meetings during 2024/25

Abbreviations:

A&R
Audit & Risk Committee
EC
Education Committee
F&CR
Finance & Capital Resources Committee
GNC
Governance & Nominations Committee
Trustee
Board/
Committee
2024/25
Meetings
Attendance		 A&R
Audit & Risk Committee
EC
Education Committee
F&CR
Finance & Capital Resources Committee
GNC
Governance & Nominations Committee
Trustee
Board/
Committee
2024/25
Meetings
Attendance		 PC
People Committee
RC
Remuneration Committee
SB
Scotland Board
T/WEAC
Joint meeting of the Trustees & WEA
Council
WEAC
WEA Council		 PC
People Committee
RC
Remuneration Committee
SB
Scotland Board
T/WEAC
Joint meeting of the Trustees & WEA
Council
WEAC
WEA Council
Trustee Board/
2024/25
Attendance
Committee
Meetings
John Widdowson
Board (Chair)
T/WEAC
RC
GNC
4/4
1/1
1/1
4/4
100%
100%
100%
100%
Catherine Armor
Board
T/WEAC
PC (Chair)
EC
RC
3/4
1/1
4/4
3/5
1/1
75%
100%
100%
60%
100%
Robin Cook
Board
T/WEAC
A&R
SB
WEAC
3/4
1/1
4/4
3/3
2/3
75%
100%
100%
100%
67%		 Jamey Johnson Board
3/4
75%
T/WEAC
1/1
100%
F&CR
2/4
50%
Abda Khan+
Robin Cook Board
2/2
100%
T/WEAC
1/1
100%
Amanda
Woodvine#		 Board
1/1
100%
Kevin Doyle Board
4/4
100%
T/WEAC
F&CR (Chair)
RC
1/1
4/4
1/1
100%
100%
100%
No Attendance
in 2024/25
Board
T/WEAC
EC (Chair)
3/4
1/1
5/5
75%
100%
100%
Board
4/4
100%
T/WEAC
1/1
100%
A&R (Chair)
GNC
4/4
3/4
100%
75%
Board
2/4
50%		 Geoff Layer Board
4/4
100%
T/WEAC
1/1
100%
EC
3/5
60%
RC (Chair)
1/1
100%
GNC (Chair)
4/4
100%
Colin Finlay# Stephanie Mason
Board
T/WEAC
F&CR
4/4
1/1
4/4
100%
100%
100%
Malcolm Grady Ronald Marks
Board
T/WEAC
PC
WEAC
4/4
1/1
4/4
2/3
100%
100%
100%
67%
Board
T/WEAC
PC
WEAC (Chair)
RC
GNC
4/4
1/1
4/4
3/3
1/1
2/4
100%
100%
100%
100%
100%
50%
Matthew Pointon
Christine Grant
Tracey Irving
+ Term ended before 31
July 2025.
# Term began after 1
August 2024.
T/WEAC
1/1
100%
SB (Chair)
3/3
100%

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WEA’s Board of Trustees and its committees normally meet on a quarterly cycle of meetings so that each group meets four times per year. Termly joint meetings of the Board of Trustees and WEA Council have been reduced from three to one per year, following the conclusion of WEA’s internal review of governance. The practice of the Council meeting jointly with the Board of Trustees once per year has been retained in order to facilitate discussion of shared priorities at the start of each academic year.

Average attendance at meetings of the Board of Trustees in 2024/25, excluding the joint meeting with Council, was 88% (2023/24: 88%). Including the joint meeting with WEA Council, overall Trustee attendance was 96% (2023/24: 87%). Average Trustee attendance at the joint meeting of the Board of Trustees and WEA Council was 95% (2023/24: 83%).

Average attendance at all Board and Committee meetings in 2024/25 was 88% (2023/24: 86%).

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Trustees’ declaration

Statement of trustees’ responsibilities

The Trustees (who are also Directors of the Company for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (“UK accounting standards”).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as each of the Trustees of the charitable company at the date of approval of this report is aware, there is no relevant audit information (information needed by the charitable company’s auditor in connection with preparing the audit report) of which the charitable company’s auditor is unaware. Each trustee has taken all the steps that they should have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditor is aware of that information.

Approved on behalf of Trustees on 11 December 2025.

Signed: John Widdowson, CBE Chair of Trustees

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Statement of corporate governance & internal control

The following statement is provided to enable readers of the Annual Report and Accounts of the Charity to obtain a better understanding of its governance and legal structure. This statement covers the period from 1 August 2024 to 31 July 2025 and up to the date of approval of the Annual Report and Financial Statements.

The Charity endeavours to conduct its business:

The Board of Trustees recognises that, as a body entrusted with both public and private funds, it has a particular duty to observe the highest standards of corporate governance at all times.

The Board of Trustees confirm that they have due regard for the Charity Commission’s guidance on public benefit and that the required statements appear elsewhere in these financial statements.

The Charity is committed to exhibiting best practice in all aspects of corporate governance and, as a registered charity, follows compliance guidelines set by the Charity Commission. We have reported on our Corporate Governance arrangements by drawing upon best practice available, including those aspects of the UK Corporate Governance Code we consider to be relevant to the further education sector and best practice.

Approved by order of the Board of Trustees on 11 December 2025 and signed on its behalf by:

John Widdowson, CBE Chair of Trustees

Simon Parkinson CEO/GS

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Governing body’s statement on the regularity, propriety and compliance with funding body terms and conditions of funding

The Charity has considered its responsibility to notify the Department of Education (“DfE”) of material irregularity, impropriety and noncompliance with the DfE terms and conditions of funding.

We confirm that no instances of material irregularity, impropriety or funding noncompliance have been discovered to date. If any instances are identified after the date of this statement, these will be notified to the DfE.

We confirm, on behalf of the Charity, that after due enquiry, and to the best of our knowledge, we are not able to identify any material irregular or improper use of funds by the Charity, or material non-compliance with the DfE’s terms and conditions of funding.

Approved by order of the Board of Trustees on 11 December 2025 and signed on its behalf by:

John Widdowson, CBE Chair of Trustees

Simon Parkinson CEO/GS

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Independent auditor’s report to the members and trustees of the Workers’ Educational Association (“WEA”)

Opinion

We have audited the financial statements of WEA (‘the charitable company’) for the year ended 31 July 2025 which comprise the statement of financial activities, the balance sheet, the cash flow statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the

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audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion based on the work undertaken during our audit:

Matters on which we are required to report by exception

Considering the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement [set out on page 36], the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

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Extent to which the audit was considered capable of detecting

irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion.

We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011, The Charities and Trustee Investment (Scotland) Act 2005, Further and Higher Education Act 1992 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which might be fundamental to the charitable company’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation (GDPR), Health and Safety legislation, Ofsted Education Inspection Framework, taxation legislation and employment legislation.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the timing of recognition of income, and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management, and the Audit & Risk Committee about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola May

Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Statutory Auditor London

Date 17 December 2025

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Independent reporting accountant’s report on regularity 31 July 2025

To the Trustees of the Workers’ Educational Association (the WEA) and Secretary of State for Education, acting through Department for Education (the DfE) and the Greater Manchester Combined Authority, Liverpool City Region Combined Authority, West of England Combined Authority, West Midlands Combined Authority, North East Combined Authority, Greater London Authority, West Yorkshire Combined Authority, South Yorkshire Mayoral Combined Authority and Cambridge and Peterborough Combined Authority (referred to as “the Authorities” below).

In accordance with the terms of our engagement letter dated 17 November 2025 and further to the requirements and conditions of funding in the DfE’s grant funding agreements and contracts, or those of any other public funder, including the Authorities we have carried out an engagement to obtain limited assurance about whether anything has come to our attention that would suggest, in all material respects, the expenditure disbursed and income received by the WEA during the period 1 August 2024 to 31 July 2025 have not been applied to the purposes identified by Parliament and the financial transactions do not conform to the authorities which govern them.

The framework that has been applied is set out in the post16 audit code of practice (the Code) issued by the DfE and in any relevant conditions of funding concerning adult education notified by a relevant funder.

This report is made solely to the trustees of WEA and the DfE and the Authorities in accordance with the terms of our engagement letter. Our work has been undertaken so that we might state to the Trustees of the WEA and the DfE and the Authorities those matters we are required to state in a report and for no other purpose. To the fullest extent permitted by law, we do not accept, or assume, responsibility to anyone other than WEA and the DfE and the Authorities for our work, for this report, or for the conclusion we have formed.

Respective responsibilities of the WEA and the reporting accountant

The trustees of the WEA are responsible, under the requirements of the Further & Higher Education Act 1992, subsequent legislation and related regulations and guidance, for ensuring that expenditure disbursed, and income received, are applied for the purposes intended by Parliament, and the financial transactions conform to the authorities that govern them.

Our responsibilities for this engagement are established in the United Kingdom by our profession’s ethical guidance and are to obtain limited assurance and report in accordance with our engagement letter and the requirements of the Code. We report to you whether anything has come to our attention in carrying out our work which suggests that in all material respects, expenditure disbursed, and income received, during the period 1 August 2024 to 31 July 2025 have not been applied to purposes intended by Parliament or that the financial transactions do not conform to the authorities which govern them.

Approach

We conducted our engagement in accordance with the Code issued by the DfE and in accordance with any guidance provided by the Authorities. We performed a limited assurance engagement as defined in that framework.

The objective of a limited assurance engagement is to perform such procedures as to obtain information and explanations in order to provide us with sufficient appropriate evidence to express a negative conclusion on regularity.

A limited assurance engagement is more limited in scope than a reasonable assurance engagement and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in a reasonable assurance engagement. Accordingly, we do not express a positive opinion.

Our engagement includes examination, on a test basis, of evidence relevant to the regularity of the WEA’s income and expenditure. The work undertaken to draw to our conclusion includes a review of the design and implementation of WEA’s internal controls and review processes on regularity, supported by detailed tests on sample of costs incurred by the college and specific transactions identified from our review.

Conclusion

In the course of our work, nothing has come to our attention which suggests that in all material respects, the expenditure disbursed, and income received during the period 1 August 2024 to 31 July 2025 has not been applied to purposes intended by Parliament, and the financial transactions do not conform to the authorities that govern them.

Crowe U.K. LLP Date: 17 December 2025

43

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Financial statements

Statement of financial activities for the year ended 31 July 2025

2024/25 2024/25 2024/25 2023/24 2023/24 2023/24
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds funds funds
Notes £’000 £’000 £’000 £’000 £’000 £’000
Income from:
Donations and legacies 48 - 48 39 - 39
Charitable activities 2 11,539 13,588 25,127 12,553 18,338 30,891
Investment income 19 1,665 - 1,665 1,727 - 1,727
Other 109 464 573 45 3 48
Total income 13,361 14,052 27,413 14,364 18,341 32,705
Expenditure on:
Charitable activities 3 11,796 13,662 25,458 15,850 11,624 27,474
Other 18b 1,217 - 1,217 1,272 - 1,272
Total expenditure 13,013 13,662 26,675 17,122 11,624 28,746
Net income/(expenditure) 348 390 738 (2,758) 6,717 3,959
Transfers between funds 13 3,110 (3,110) - 3,234 (3,234) -
Other recognised losses:
Adjustment for defined 18e (60) - (60) (398) - (398)
benefit pension scheme
Net movement in funds 3,398 (2,720) 678 78 3,483 3,561
Reconciliation of funds:
Total funds brought forward 13,032 5,429 18,461 12,954 1,946 14,900
Total funds carried forward 16,430 2,709 19,139 13,032 5,429 18,461

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The notes on pages 46 to 76 form part of these accounts.

44

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Balance sheet as at 31 July 2025

2024/25 2023/24
Notes £’000 £’000
Fixed assets
Tangible assets 8 9,678 7,003
Intangible assets 8 1,608 1,811
Total fixed assets
11,286
8,814
~~eee~~
Current assets
Debtors 9 2,646 2,300
Investments 16 9,285 6,980
Cash at bank and in hand 16 571 6,656
Total current assets
12,502
15,936
~~eee~~
Liabilities
Creditors:amounts falling due within one year 10 (4,453) (6,034)
Net current assets 8,049 9,902
Total assets less current liabilities 19,335 18,716
Creditors:amounts falling due after one year 10 - -
Provisions for liabilities 22 (197) (255)
Total net assets
19,139
18,461
~~ee~~
Funds of the Charity
Unrestricted funds 13 5,144 4,218
Designated funds 13 11,286 8,814
Total unrestricted funds
13
16,430
13,032
~~eee~~
Restricted funds 13 2,709 5,429
Total charity funds
19,139
18,461
~~en~~

The financial statements on pages 46 to 76 were approved by the Board of Trustees and authorised for issue on 11 December 2025, and are signed on its behalf by:

John Widdowson, CBE Chair of Trustees

Simon Parkinson CEO/GS

Company Number:

2806910

45

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Cash flow statement for the year ended 31 July 2025

2024/25 2024/25 2023/24 2023/24
Notes £’000 £’000 £’000 £’000
Cash flows from operating activities:
Net cash provided by operating activities 14 (679) 4,829
Cash flows from investing activities:
Interest received 19 439 418
Purchase of tangible and intangible assets 8 (3,615) (4,257)
Net cash used in investing activities (3,176) (3,839)
Cash flows from financing activities:
Sale of Fixed Assets 76 19
Net cash provided by / (used in) financing activities 76 19
Change in cash and cash equivalents in the (3,779) 1,009
reporting period
Cash and cash equivalents at the beginning 13,635 12,627
of the reporting period
Cash and cash equivalents at the end
of the reporting period 9,856
2024/25 2023/24
Notes to the cash flow statement £’000 £’000
Analysis of cash and cash equivalents
Investments 9,285 6,980
Bank and cash 571 6,656
Total cash and cash equivalents 9,856 13,636

46

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

1. Accounting policies

Basis of preparation

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the Companies Act 2006, Charities: Statement of Recommended Practice (FRS102) applicable in the UK and Republic of Ireland, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. We believe this is the most appropriate basis of accounts preparation.

The Trustees have assessed WEA’s ability to continue as a going concern. The Trustees have considered several factors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these financial statements. This has included a review of budgets and cash flow forecasts through to July 2027 and consideration of the key risks, namely losing income through poor contract performance or a poor devolution outcomes in certain areas. The WEA has prepared a number of financial scenarios to manage this risk and they also dictate the target minimum reserves level as set out in the reserves policy.

Cash management and working capital controls are in place to ensure restricted and unrestricted assets and reserves are appropriately managed.

The Trustees are confident the organisation has adequate resources to operate for the foreseeable future as a going concern and has prepared its financial statements on this basis.

The WEA's charitable objective is to promote adult and general education. The WEA meets the definition of a public benefit entity.

Fund accounting:

General funds are unrestricted funds which 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.

Designated funds represent the Associations funds relating to fixed assets.

Restricted 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 funds are maintained on a project by project basis or in accordance with the agreed restrictions on their use.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SOFA) when the Association is entitled to the income, its receipt is probable and the amounts can be measured reliably.

Voluntary income is received by way of donations and gifts and is recognised on a receivable basis where the receipt is probable and the amount can be reliably measured.

Volunteer time

WEA benefits from the active participation of volunteers, as referred to in the Trustees’ Report. The financial statements do not quantify any financial value on this contribution.

Grants are included in the SOFA on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds in the balance sheet. Where income is received in advance of meeting any performance-related conditions, there is no unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Service level agreements are recognised in line with performance. These relate to fees and contract income. Capital grants are recognised in full when there is unconditional entitlement to the grant. Unspent amounts of capital grants are reflected in the balance sheet in a restricted fund. Capital grants are recognised where there is entitlement and are not deferred over the life of the asset on which they are expended.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Governance costs comprise management of the Charity’s assets, organisational management and compliance with constitutional and statutory requirements.

Cost allocation

The Association has considered that it has just one activity, which is Education Provision, to which the majority of costs are directly attributable. Where costs cannot be directly attributed to particular headings, they have all been allocated to activities on a basis consistent with their use.

Branches

The Charity carries out activities through a national network of non-autonomous branches which operate under the Charity’s registration number. These run courses for the Charity locally and receive support from the Charity through advice, publicity and meeting tutor costs. Branch activities are included in the Charity’s accounts.

47

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

1. Accounting policies (continued)

Fixed assets and depreciation

Tangible fixed assets costing more than £1,000 are capitalised and included at cost including any incidental costs of acquisition. Computers regardless of cost are capitalised.

Capital project items are capitalised and depreciated over 3 years from the time when the project commenced or in line with the life of the project.

Software costs (excluding maintenance costs), costing £1,000 or more are capitalised over 3 years in line with the Association's policies.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land Nil Freehold buildings over 50 years Improvement to buildings over 10 years over the life of the Grant funded building improvements project over the life of the Grant funded equipment project Other equipment over 3 years Computer software over 3 years

Investments and management of liquid resources

Cash includes cash in hand and at bank. Investments are short-term deposits of up to 95 days’ notice, held as part of the Association’s treasury management activities. Movements in all short-term investments, deposits and cash repayable at the end of the investment periods are reported under cash and cash equivalents in the cash flow statement.

Pension costs

At 31 July 2025 retirement benefits to employees are provided by the People's Pension, the Teachers’ Pension (TP), the Scottish Public Pensions Agency (SPPA) and the Charity's own Workers' Educational Association pension scheme (WEA Scheme) whose Trustee and Administrator is The Pensions Trust.

The People's Pension is a defined contribution scheme.

The TP, SPPA and WEA pension schemes are defined benefit schemes.

The TP and SPPA are multi-employer schemes. It is not possible to identify the Association's share of the underlying assets and liabilities of the schemes on a consistent and reliable basis and therefore, as required by FRS 102, the WEA accounts for the schemes as if they were defined contribution schemes. The Association's contributions are charged in the period in which the salaries they relate to are payable, in accordance with the recommendations of the Government Actuary.

For the WEA Scheme, the difference between the fair value of the assets held in the Association’s defined benefit pension scheme and the scheme's liabilities measured on an actuarial basis using the projected unit method are recognised in the Association's balance sheet as a pension scheme asset or liability as appropriate. Changes in the defined benefit pension scheme asset or liability arising from factors other than cash contribution by the Association are charged to the SOFA in accordance with Financial Reporting Standards (FRS 102) - Retirement Benefits. The deficit arising from the adoption of FRS 102 is recognised as a reduction in the general reserves.

Surpluses are not recognised unless they are considered recoverable.

Rentals payable under operating leases , where substantially all the risks and rewards of ownership remain with the lessor, are charged to the SOFA in the year in which they fall due.

48

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

1. Accounting policies (continued)

Provisions and contingencies are recognised when the following three conditions are met: the Association has a present obligation (legal or constructive) as a result of a past event; it is probable that an outflow of resources embodying economical benefits will be required to settle the obligation; and a reliable estimate can be made of the amount of the obligation. The amount of the provision represents the best estimate of the expenditure required to settle the obligation at the end of the reporting period.

Contingent liabilities, including liabilities that are not probable, or which cannot be reliably measured, are not recognised but are disclosed unless the possibility of settlement is considered remote. Contingent Assets are not recognised, but are disclosed where an inflow of economic benefit is probable.

Financial instruments

WEA has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transition value, and subsequently measured at the settlement value.

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, or discount offered.

Creditors

Creditors and provisions are recognised where the Association 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.

Cash at bank and in hand

Cash at bank and in hand includes cash and investments available within twenty-four hours.

Investments

Investments are short-term highly liquid investments with a short maturity of 95 days or less.

Key judgements and assumptions

In the application of the charity's accounting policies, Trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects the current and future periods.

Details of the two main accounting estimates can be found in the notes to the accounts. The valuation of the freehold property is detailed in note 8 and the accounting valuation of the defined benefit pension scheme in note 18.

Redundancy

The WEA recognises a provision for redundancy costs when they are committed to a programme of redundancy at the balance sheet date. This can be recognised while a consultation process is underway as long as the redundancy programme has been announced. The provision is measured at the best estimate of the redundancy liability accrued to the end of the accounting period.

Dilapidations Provision

Provisions are made when a legal or constructive obligation is identified and the liability can be reasonably qualified. The provision is based on an estimate provided by the landlord of the property or a benchmarked market rate per square foot of the leased property.

49

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

2. Incoming resources from charitable activities

Unrestricted Restricted Total Total
2024/25 2024/25 2024/25 2023/24
Educational provision £’000 £’000 £’000 £’000
Fees and contracts 403 4,220 4,623 4,149
Education and Skills Funding Agency (ESFA) grant 11,123 - 11,123 11,902
Other grants receivable 13 9,368 9,381 14,836
Other income from activities - - - 4
Total incoming resources from charitable activities 11,539 13,588 25,127 30,891

2a. Analysis of income from charitable activities

Total Total
2024/25 2023/24
£’000 £’000
ESFA unrestricted grants
ESFA contract 10,452 11,502
Other ESFA grants and contracts 671 400
Total ESFA unrestricted grants 11,123 11,902
Total ESFA restricted grants - -
Total ESFA contracts & grants 11,123 11,902
Other unrestricted grants
Total other unrestricted grants 13 11
Total other restricted grants 9,368 14,825
Total other grants 9,381 14,836

3. Resources expended on charitable activities

Unrestricted Restricted Total Total
2024/25 2024/25 2024/25 2023/24
£’000 £’000 £’000 £’000
Educational activity costs
Direct costs - staff 2,399 1,638 4,037 4,616
Direct costs - travel & subsistence 63 79 142 255
Direct costs – course related 309 475 784 8,862
Grants and subcontractor payments - 6,126 6,126 3,602
Total educational activity costs 2,771 8,318 11,089 17,335
Governance costs (note 4) 511 6 517 355
Support costs (note 5) 8,514 5,338 13,852 9,784
Total resources expended on charitable activities 11,796 13,662 25,458 27,474

50

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

4. Governance costs

Total Total
2024/25 2023/24
£’000 £’000
External audit fees
Crowe U.K. LLP (note 7) 62 59
Other Assurance fees
Crowe U.K. LLP (note 7) 6 4
Internal Audit Fees 20 20
Legal and professional fees 233 80
Trustees meetings and other costs (note 17) 4 10
Support costs - staff 192 182
Total governance costs 517 355

5. Support costs

Total Total
2024/25 2023/24
Educational provision £’000 £’000
Support costs - staff 10,581 5,743
Support costs - other 1,602 1,948
Facilities management 862 795
IT & communications 807 1,298
Total support costs 13,852 9,784

51

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

6. Staff costs

Total Total
2024/25 2023/24
£’000 £’000
Wages and salaries 11,141 13,914
Social security costs 1,168 1,283
Pension costs 1,113 1,412
Redundancy costs 262 1,174
Total staff costs 13,684 17,783

The above figure does not include agency staff employed by the Association at a cost of £607,764 (2023/24: £305,557) At the year-end £65,782 (2023/24: £1,007,442) of the redundancy costs remained unpaid.

The average number of employees during the year was as follows: 2024/25 2023/24
Staff 301 387
Tutors 227 349
Total average number of employees 528 736
Number of employees earning £60,000 per annum and above are as follows:
£60,001 - £70,000 4 13
£70,001 - £80,000 3 7
£80,001 - £90,000 4 5
£90,001 - £100,000 1 4
£100,001 - £110,000 1 1
£110,001 - £120,000 1 -
£140,000 - £150,000 - 1
14 31

2 members of staff (2023/24: 1) received redundancy payments in 2024/25 which took their earnings into the above brackets. Pension benefits are accruing for the other 12 (2023/24: 10) higher paid employees. Total employer pension contributions of £81,033 (2023/24: £127,904) have been made in relation to higher paid employees.

The key management personnel of the Charity comprise the Board of Trustees (14) and the Leadership Team (9) (2023/24: 8). The emoluments payable to key management personnel and higher earners are detailed below:

Total Total
2024/25 2023/24
£’000 £’000
Salary 1,104 1,908
Redundancy 28 314
PILON 12 138
Ex-Gratia - 23
Pension contributions paid by the WEA 81 173
Total emoluments paid 1,225 2,556

The emoluments paid to the Accounting Officer consist of salary payments of £139k (2023/24: 140k), and pension contributions of £38k (2023/24: £33k), totaling £177k (2023/24: £173k).

52

Workers’ Educational Association trustees’ annual report and accounts 2024/25

7. Analysis of charitable expenditure

Charitable expenditure includes: 2024/25 2023/24
£’000 £’000
External auditors’ remuneration 62 59
Other assurance services performed by external auditors* 6 4
Depreciation 750 725
Profit/(loss) on disposal of tangible assets (76) -
Operating lease charges 247 186

53

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

8. Fixed asset schedule

Assets in the
Land and Education Other course of Total
Buildings Equipment Equipment construction 2024/25
£’000 £’000 £’000 £’000 £’000
Tangible fixed assets
Cost
At 1 August 2024 5,991 114 261 3,269 9,635
Additions - 6 - 3,437 3,443
Transfers 939 - 162 (1,101) -
Disposals (623) - - - (623)
At 31 July 2025 6,307 120 423 5,605 12,455
Depreciation
At 1 August 2024 2,385 109 138 - 2,632
Charge for the year 303 5 67 - 375
Disposals (230) - - - (230)
At 31 July 2025 2,458 114 205 - 2,777
Net book value
At 31 July 2025 3,849 6 218 5,605 9,678
At 1 August 2024 3,606 5 123 3,269 7,003

There is a charge granted over the freehold property 4 Luke Street, London, EC2A 4XW in favour of The Pensions Trust. At 31 July 2025 the charge is capped at £2,500,000.

Assets in the Course Total
Software of Construction 2024/25
£’000 £’000 £’000
Intangible fixed assets
Cost
At 1 August 2024 1,125 1,154 2,279
Additions - 172 172
Transfers 1,306 (1,306) -
At 31 July 2025 2,431 20 2,451
Depreciation
As 1 August 2024 468 - 468
Charge for the year 375 - 375
At 31 July 2025 843 - 843
Net book value
At 31 July 2025 1,588 20 1608
At 1 August 2024 657 1,154 1,811

54

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

9. Debtors: amounts falling due within one year

2024/25 2023/24
£’000 £’000
Trade debtors 88 254
Other debtors 3 19
Prepayments 310 379
Accrued Income 2,245 1,648
Total 2,646 2,300

10. Creditors: amounts falling due within one year

Amounts falling due within one year 2024/25
£’000		 2023/24
£’000
Trade creditors 983 868
Accruals 917 2,143
Social security & other taxes 447 514
Deferred income 2,106 2,509
Total 4,453 6,034

55

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

10a. Deferred income

2024/25 2023/24
£’000 £’000
Opening balance 2,509 2,503
Amounts released (2,509) (2,503)
Amounts deferred 2,106 2,509
Closing balance 2,106 2,509

Income received during the year is deferred when the conditions for income recognition have not been fully met. All income deferred in the previous year has been released.

11. Financial commitments

There were capital commitments of £1.7m as at 31[st] July 2025 (2024: £1m) relating to the purchase of property and fixtures. As at 31 July 2025, the charity has annual commitments under non-cancellable leases as follows:

Land and building Total Total
leasehold 2024/25 2023/24
Expiry date: £’000 £’000 £’000
Within one year 274 274 181
One to five years 952 952 473
Over five years 304 304 306
Total financial commitments - leases 1,530 1,530 960

12. Analysis of net assets by fund

Unrestricted
funds
Restricted
funds
Total
Funds
Unrestricted
funds		 Restricted
Total
funds
funds
2024/25
2024/25
2024/25
2023/24		 2023/24
2023/24
Net assets
£’000
£’000
£’000
£’000		 £’000
£’000
Fixed Assets
11,286
-
11,286
8,814
Net current assets
5,399
2,708
8,107
4,473
Long term liabilities
(255)
-
(255)
(255)		 -
8,814
5,428
9,901
-
(255)
Net assets
16,430
2,708
19,138
13,032		 5,428
18,460

56

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13. Statement of funds

At 1 August Pension At 31 July
2024 Income Expenditure Transfers adjustment 2025
£’000 £’000 £’000 £’000 £’000 £’000
General funds 2,525 8,417 (7,520) 1,722 - 5,144
Branch funds 201 102 (73) (230) - -
Regional branch reserve fund 1,492 - - (1,492) - -
4,218 8,519 (7,593) - - 5,144
Designated funds 8,814 3,615 (4,253) 3,110 - 11,286
Pension deficit - 1,226 (1,166) - (60) -
Total unrestricted funds 13,032 13,360 (13,012) 3,110 (60) 16,430
Restricted funds:
Revenue 399 13,629 (13,662) - - 366
Capital 5,030 423 - (3,110) - 2,343
Total restricted funds 5,429 14,052 (13,662) (3,110) - 2,709
Total funds 18,461 27,412 (26,674) - (60) 19,139

Designated funds represent the part of the Association’s funds balance represented by fixed assets.

Regional branch reserve fund represents the balance of accumulated funds transferred from branches to regions in line with the Association’s policy of ensuring balances of funds at branches are kept at levels that are sufficient, but not excessive. This reserve may also be used, at trustees’ discretion, to address funding gaps where use of ESFA funds is not permitted.

Transfers between unrestricted and restricted funds:

Fixed asset funds: the transfer of £3,110,000 from restricted funds to the designated fund reflects the capital expenditure from capital grants and restricted capital funds.

Prior year statement of funds

At 1
August
2024
£’000		 Income
Expenditure
Transfers
Pension
adjustment
At 31 July
2025
£’000
£’000
£’000
£’000
£’000
General funds
5,871
8,782
(12,130)
2
-
2,525
Branch funds
421
15
(121)
(114)
-
201
Regional branch reserve fund
1,379
-
-
113
-
1,492
7,671
8,797
(12,251)
1
-
4,218
Designated funds
5,283
4,258
(3,960)
3,233
-
8,814
Pension deficit
-
1,309
(911)
-
(398)
-
Total unrestricted funds
12,954
14,364
(17,122)
3,234
(398)
13,032
Revenue
639
11,384
(11,624)
-
-
399
Fixed asset fund
1,307
6,957
-
(3,234)
-
5,030
Total restricted funds
1,946
18,341
(11,624)
(3,234)
-
5,429
Total funds
14,900
32,705
(28,746)
-
(398)
18,461

57

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13a. Statement of funds (continued)

Lottery funded projects

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2024 income income expenditure Fund 2025
£ £ £ £ £ £
BBO BLF Routes 7,808 - - - - 7,808
Big Lottery Fund and ESF Building Better
Opportunities Grant - Cumbria,Carlisle & Eden 300 - - - - 300
UKSPF Liverpool - 49,123 (21,776) (27,347) - -
Big Lottery Fund and ESF Building Better
Opportunities Grant-Aspire - (4,399) - - - - (4,399)
Family Learning Surrey
Big Lottery Fund and ESF Building Better
Opportunities Grant - BuildingFamilyBridges 809 - - - - 809
Slough Borough Council - Ways Into Work 618 - - - - 618
BLF Men’s Health Lounge 927 - - - - 927
ATI (1,155) - - - - (1,155)
BigLotteryFund - Reach Out Project -
 - - - - -
Total lottery fund projects 4,908 49,123 (21,776) (27,347) - 4,908
Other projects
ESF (note 13b)		 13,182 - -
(8,620)		 - 4,562
Other (note 13c) 381,339 11,670,003 1,932,144 (13,626,503)
(1)		 356,982
Total restricted revenue funds 399,429 11,719,126 1,910,368 (13,662,470) (1) 366,452

58

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13b. Statement of funds (continued)

European Social Funds (ESF) and other European funding

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2024 income income expenditure Fund 2025
£ £ £ £ £ £
Scottish Refugee Council - EU Asylum,
Migration and Integration Fund:
SharingLives SharingLanguages		 4,562 - - - - 4,562
Aberdeen University - LEADER -
Elphinstone Home Project 8,620 - - (8,620) - -
Total European restricted funds (note 13a) 13,182 - - (8,620) - 4,562

59

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13c. Statement of funds (continued)

Other restricted funds

At Transfer At
1 August Received Accrued/ Funded from 31 July
2024 income deferred expenditure General 2025
£ £ income £ £ Fund £ £
Olive Cordell 4,142 - - - - 4,142
Pearl Ryall Restricted Gift 500 - - - - 500 500
Digital Lifeline Campaign 673 - - - - 673
Lloyds 10,153 - - -(10,153) - -
Cumbria LA - Multiply - 2,465 - - (2,465) - -
AlgyBeaven Legacy 1,375 - - - - 1 1,375
John Rhodes Fund 9,581 - - - - 9,581
Public Health Northamptonshire -
Northants Weight Management 4,455 - - - - 4,455
LLEP Digital Poverty 5,296 - - (5,296) - -
West Midlands Combined Authority - 772,141 1 1,386 386(773,526) (1) -
RecoveryCollege 651 - - - - 651 - 651
Dolphin Centre 1,528 - - - - 1,528
WMCA Multiply (19,448) 67,453 - -(48,005) - - - -
Lester John Desmond Legacy 1,352 - - - - 1,352
East of England Local Government
Association(EELGA) - - - 315 - 315
MultiplyNorfolk 25,611 (1,756) - (23,854) (1)- -
CPCA - 160,410 - (160,410) - -
West Sussex Multiply 14,217 28,637 - (42,853) (1) -
Joan Taylor Legacy 812 - - - - 812
Multiply Essex (6,710) 8,960 - (2,250) -
Inspire Sussex 3,644 - - - - 3,644 - 3,644
StanleyJones - Ilford Legacy 13,347 - - (686) - 12,661
Margaret Cottier Legacy 3,753 - - - - 3,753
GLA - National Skills Fund - 31,940 (31,940) - -
GLA - Adult Education Budget -1 1,343,233 (4,288) (1,338,945) - -
GLA - Multiply - 72,674 (72,674) - -
MJT Restricted - Branch 1,958 - - - - 1,958
Fred Adler Legacy 38,957 - - - - 38,957
Balance carried forward 115,847 115,8472,486,157 (2,902) (2,902)
(2,512,742)		 (3) 86,357 (3) 86,357

60

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13c. Statement of funds (continued)

Other restricted funds (continued)

At Transfer At
1 August Received Accrued/ Funded from 31 July
2024 income deferred expenditure General 2025
£ £ income £ £ Fund £ £
Balance brought forward 115,847 2,486,157 (2,902) (2,512,742) (3)
86,357		 86,357
100 Club 1,836 - - - - 1,836
North of Tyne MCA - (1,344) 1,344 - -
Routes of Social Change - 799 (799) - - - -
Durham Multiply - 36,650 2,109 (38,759) - - - -
RSC - AnyOld lons 10,908 - - - - 10,908
RAS - Look Upto the Skies 6,280 - - - - 6,280
Greater Manchester Combined Authority - 665,559 50,735 (716,294) - -
GMCA L3 Local - (314) 314 - -
GMCA CommunityGrants - 3,617,581 1,886,728 (5,440,923) 1 63 1 63 1 63,387
Liverpool CityRegion Combined Authority - 737,485 61,563 (799,048) - -
LCRCA L3 National - 37,530 (449) (37,081) - -
Trafford - BNO - 8,043 - (8,043) - -
Liverpool - Multiply - 340,397 (340,397) - -
Lancashire - Multiply - 314,710 (314,710) - -
West of England Combined Authority- AEB - 447,001 - (447,001) - -
West of England Combined Authority- Multiply - 46,810 (7,109) (40,169) - (468)
Southampton CityCouncil - Multiply - 24,570 (14,400) (10,170) - -
Portsmouth CityCouncil - Multiply - 48,576 36,888 (85,464) - -
K Smith Legacy 20,875 - - - - 20,875
Basil Slaughter Trust (Essex) - 1,500 - - - 1,500 - 1,500
East Midlands MCA - 160 (160) - - -
Balance carried forward 155,746 8,812,415 2,012,458 (10,789,942) 2,012,458 (10,789,942) (2) 190,675 ) 190,675

61

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13c. Statement of funds (continued)

Other restricted funds (continued)

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2024 income income expenditure Fund 2025
£ £ £ £ £ £
Balance brought forward 155,746 8,812,415
 2,012,458 (10,789,942) (2) 190,675
Mike Haywood Fund 896 - - - - 896
Yorkshire Adult Schools Union 8,300 - - - - 8,300
Leeds University 3,008 - - - 1 3,009
NHS Confidence to study 7,911 - - (58) - 7,853
Heritage Fund - Women on the Land - - - 3,814 - 3,814
South Yorks MCA - 332,880 (117,691) (215,189) - -
West Yorks MCA - 723,785 - (723,785) - -
Digital Inclusion - - - 40 - 40
WAMT - Green Growth 91,622 - - (29) - 91,593
MultiplyYork & North Yorkshire - - - - - -
MultiplyNorth Lincs - 4,078 - (4,078) - -
NECA - 1,013,468 54,073 (1,067,541) - -
UKSPF Chesterfield - 1,260 - (1,260) - -
AllpayLtd - 3,000 (3,000) - -
Balance carried forward 267,456 10,890,886
 1,945,840 (12,798,028) (1) 306,153

62

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13c. Statement of funds (continued)

Other restricted funds (continued)

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2024 income income expenditure Fund 2025
£ £ £ £ £ £
Balance brought forward 267,456 10,890,886 1,945,840 (12,798,028) (1) 306,153
Scottish Government - Health and Social Care -
Self Directed Support Project 2018-2020 744 - - (744) -
Edinburgh College - Edinburgh CBAL
 1,690 - - - 1,690
Aberdeenshire Council - Adult Education Programme 12,585 - - (5,034) - 7,551
Fife Council - TeachingGrant 5,434 14,480 957 (20,726) - 145
Highland Council - Syrian Re-settlement Project 5,061 3,958 - (9,019) - -
Adult Learning & Empowering
Communities Fund(ALEC) - 304,500 (304,500) - -
Fife Council - Revenue Grant - 32,231 (159) (32,072) - -
North East College - Aberdeenshire ESOL 2,015 - (2,015) - -
Aberdeenshire Council - Resettlement Programme 10,000 23,430 - (21,920) - 11,510
Aberdeen Council of VoluntaryOrganisations(ACVO) 1,780 - - (1,780) - -
Highlife Highland - Open Programme 2,860 - - - - 2,860
Highland Multiply - 30,809 (30,809) - -
Edinburgh College - ESOL Programme - 9,600 (9,570) - 30
Glasgow Clyde College - ESOL Strategy - 12,250 - (12,250) - -
-Fife Multiply 35,618 53,474 (89,092) -
Aberdeenshire Council – Multiply - 68,355 (23,285) (45,070) - -
Highland Council – EmployabilityPartnership 459 4,925 (5,384) -
Edinburgh Multiply - 5,820 (5,820) - -
Glasgow Multiply 25,781 34,277 (60,058) -
Glasgow Scot Gov ESOL - 91,000 (75,054) - 15,946
Kincardine stainedglassproject - 4,000 (4,000)
Scottish Government - Directorate for Mental Health
& Social Care Support 11,871 93,593 (809) (93,558)
-		 11,097
Balance carried forward 381,339 11,670,003
 1,932,144 (13,626,503) (1) 356,982

63

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13c. Statement of funds (continued)

Other restricted funds (continued)

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2024 income income expenditure Fund 2025
£ £ £ £ £ £
Capital Grants
ESFA Capital Grant-EnergyEfficiencies 188,367 - - - (188,367) -
ESFA Capital Grant- FE Reclassification 542,098 - - - (542,098) -
ESFA Capital Grant - Transformation 4,110,015 (216,418) (2,274,452) 1,619,145
Restricted Capital Proceeds 181,524 (76,432) - - (105,092) -
College conditionsgrant 715,821 715,821
Liverpool CityRegion 7,536 - - - - 7,536
Total restricted capital funds (note 13) 5,029,540 639,389 (216,418) - 2.342,502
(3,110,009)

64

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13d. Statement of funds (continued)

Prior year statement of funds (continued)

Lottery funded projects (continued)

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2023 income income expenditure Fund 2024
£ £ £ £ £ £
BBO BLF Routes 7,808 - - - - 7,808
Big Lottery Fund and ESF Building Better
Opportunities Grant - Cumbria,Carlisle & Eden 37,534 - - (37,234) - 300
UKSPF Liverpool - 62,508 21,776 (84,284) - -
Big Lottery Fund and ESF Building Better
Opportunities Grant-Aspire - (4,399) -
 - - - (4,399)
Family Learning Surrey
Big Lottery Fund and ESF Building Better
Opportunities Grant - BuildingFamilyBridges 809 - - - - 809
Slough Borough Council - Ways Into Work 618 - - - - 618
BLF Men’s Health Lounge 927 - - - - 927
ATI (1,155) - - - - (1,155)
BigLotteryFund - Reach Out Project 37,415 - - (37,415) - -
Total lottery fund projects 79,557 62,508 21,776 (158,933) - 4,908
Other projects
ESF (note 13b)		 33,414 39,206 -
(59,438)		 - 13,182
Other (note 13c) 526,428 11,990,028 (729,136) (11,405,981)
-		 381,339
Total restricted revenue funds 639,399 12,091,742 (707,360) (11,624,352) - 399,429

65

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13e. Statement of funds (continued)

Prior Year Statement of funds (continued)

European Social Funds (ESF) and other European funding

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2023 income income expenditure Fund 2024
£ £ £ £ £ £
Scottish Refugee Council - EU Asylum,
Migration and Integration Fund:
SharingLives SharingLanguages		 4,562 - - - - 4,562
Scottish Refugee Council - EU Asylum,
Mitigation & Integration Fund:
New Scots Integration-
A Pathwayto Social and Economic Inclusion 20,232 39,206 - (59,438) - -
Aberdeen University - LEADER -
Elphinstone Home Project 8,620 - - - - 8,620
Total European restricted funds (note 13a) 33,414 39,206 - (59,438) - 13,182

66

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13f. Statement of funds (continued)

Prior year statement of funds (continued)

Other restricted funds

At Transfer At
1 August Received Accrued/ Funded from 31 July
2023 income deferred expenditure General 2024
£ £ income £ £ Fund £ £
Olive Cordell 4,142 - - - - 4,142
Restricted Gift 500 - - - - 500
Digital Lifeline Campaign 673 - - - - 673
Lloyds 10,153 - - - - 10,153
Cumbria LA - Multiply 211 - (18,588) 18,377 - -
AlgyBeaven Legacy 1,375 - - - - 1,375
John Rhodes Fund 9,581 - - - - 9,581
Public Health Northamptonshire -
Northants Weight Management 4,455 - - - - 4,455
LLEP Digital Poverty (1,574) 33,923 - (27,053) - 5,296
West Midlands Combined Authority - 794,976 - (794,976) - -
RecoveryCollege 51 - 600 600 600
-		 - 651 - 651
Dolphin Centre 1,528 - - - - 1,528
LCC Multiply - 18,000 - (18,000) - -
NCC DigSkills - 9,250 - (9,250) - -
BBO Vista – Leic BLF - 2 - (2) - -
WMCA Multiply - 6,187 - -(25,635) - -(19,448)
CommunityFirst 600 - - -(600) - - - -
Lester John Desmond Legacy 1,352 - - - - 1,352
East of England Local Government
Association(EELGA) (1,159) 10,404 - (9,245) - -
MultiplyNorfolk 3,111 46,946 - (24,446) - 25,611
CPCA 2022-23 - 173,227 - (173,227) - -
West Sussex Multiply 12,189 35,000 - (32,971) - 14,217
MultiplyBrighton and Hove (31) 4,667 - (4,636) - -
Joan Taylor Legacy 812 - - - - 812
Multiply Essex - 17,920 - (24,630) (6,710)
Inspire Sussex - 3,644 - - - 3,644 - 3,644
StanleyJones - Ilford Legacy 13,347 - - - - 13,347
Margaret Cottier Legacy 3,753 - - - - 3,753
GLA - National Skills Fund - 72,107 (31,010) (41,097) - -
GLA - Adult Education Budget - 1,579,254 (19,350) (1,559,904) - -
GLA - Good Work for All - 52,781 - (52,781) - -
GLA - Multiply 17,311 114,890 (8,554) (123,647) - -
NDY Restricted - Branch 13,424 - - (13,424) - -
MJT Restricted - Branch 8,534 - - (6,576) - 1,958
Fred Adler Legacy 38,957 - - - - 38,957
Balance carried forward 143,295 2,973,178 (76,902) (2,923,724) - 115,847 - 115,847

67

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13f. Statement of funds (continued)

Prior year statement of funds (continued)

Other restricted funds

At At Transfer At
1 August Received Accrued/ Funded from from
31 July
2023 income deferred expenditure General General
2024
£ £ income £ £ Fund £ £
Balance brought forward 143,295 2,973,178 (76,902) (2,923,724) - 115,847
100 Club 1,836 - - - - 1,836
North of Tyne MCA - 347,647 15,801 (363,448) - -
Routes of Social Change - 31,583 (12,544) (19,039) - - - -
Durham Multiply - 29,750 (2,109) (27,641) - - - -
RSC - AnyOld lons 10,908 - - - - 10,908
RAS - Look Upto the Skies 6,280 - - - - 6,280
Greater Manchester Combined Authority - 704,855 128,416 (833,271) - -
GMCA L3 Local - 17,070 2,086 (19,156) - -
GMCA L3 National - 10,069 16,080 (26,149) - -
GMCA CommunityGrants - 2,545,204 (318,451) (2,226,753)
Liverpool CityRegion Combined AuthorityLot 1 - 629,291 66,549 (695,840) - -
Liverpool CityRegion Combined AuthorityLot 2 - 3,112 - (3,112) - -
LCRCA L3 National - 33,506 (2,320) (31,186) - -
ESIF - CSI - 7,500 (7,500) - -
Trafford - BNO - 940 - (940) - -
Liverpool - Multiply - 836,498 (243,906) (592,592) - -
Lancashire - Multiply - 524,633 6,670 (531,303) - -
West of England Combined Authority- AEB - 526,319 - (526,319) - -
West of England Combined Authority- Multiply 1,782 108,600 8,276 (118,658) - -
West of England Combined Authority – Multiply – 4,920 - (4,920) - - - -
Bristol
West of England Combined Authority – Multiply - 2,913 - (2,913) - - - -
Somerset
Pollinator Fund - 5,134 - (5,134) - -
Southampton CityCouncil - Multiply 11,699 37,300 14,400 (63,399) - -
Portsmouth CityCouncil - Multiply (64) 132,224 (36,888) (95,272) - -
K Smith Legacy 20,875 - - - - 20,875
Southampton CityCouncil - Innovation Fund (76) 10,000 - (9,924) - -
Balance carried forward 196,535 9,522,246 196,535 9,522,246 (434,842) (434,842)
(9,128,193)		 - 155,746 - 155,746

68

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13f. Statement of funds (continued)

Prior year statement of funds (continued)

Other restricted funds

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2023 income income expenditure Fund 2024
£ £ £ £ £ £
Balance brought forward 196,535 9,522,246
 (434,842) (9,128,193) - 155,746
Mike Haywood Fund 896 - - - - 896
Yorkshire Adult Schools Union 8,300 - - - - 8,300
Leeds University 3,008 - - - - 3,008
NHS Confidence to study 7,911 - - - - 7,911
Heritage Fund - Women on the Land 2,149 9,750 - (11,899) - -
South Yorks MCA - 335,821 39,819 (375,640) - -
West Yorks MCA - 1,117,680 (344,756) (772,924) - -
Digital Inclusion (68) - - 68 - -
WAMT - Green Growth 129,165 - - (37,543) - 91,622
MultiplyYork & North Yorkshire (308) - - 308 - -
MultiplyRotherham - 2,139 - (2,139) - -
UKSPF RISE (28) 5,519 - (5,491) - -
Families Get Active 2,614 - - (2,614) - -
Balance carried forward 350,147 10,993,155
 (739,779) (10,336,067) - 267,456

69

Workers’ Educational Association trustees’ annual report and accounts 2024/25

Notes to the financial statements for the year ended 31 July 2025

13f. Statement of funds (continued)

Prior year statement of funds (continued)

Other restricted funds

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2023 income income expenditure Fund 2024
£ £ £ £ £ £
Balance brought forward 350,147 10,993,155 (739,779) (10,336,067) - 267,456
Scottish Government - Health and Social Care -
Self Directed Support Project 2018-2020 4,341 - - (3,597) - 744
Edinburgh College - Edinburgh CBAL
 3,125 - - (1,435) - 1,690
Aberdeenshire Council - Adult Education Programme 12,585 - - - - 12,585
Aberdeen CityCouncil - ParentingProject 4,610 - - (4,610) - -
Reach Out Project - General 7,456 - - (7,456) - -
Fife Council - TeachingGrant 18,534 16,367 - (29,467) - 5,434
Highland Council - Syrian Re-settlement Project 10,123 27,290 - (32,352) - 5,061
North East Scotland Colleges - Reach Out 22/24 63,820 1,000 - (64,820) - -
Garden Project 266 - - (266) - -
Adult Learning & Empowering
Communities Fund(ALEC) - 355,249 (50,749) (304,500) - -
Fife Council - Revenue Grant -
36,430		 (5,292) (31,138) - -
North East College - Aberdeenshire ESOL - 25,851 - (25,851) - -
Aberdeenshire Council - Resettlement Programme - 19,950 - (9,950) - 10,000
Aberdeenshire Council - Fairer Aberdeenshire
Fund - Reminiscence Project 388 3,400 - (3,788) - -
Aberdeen Council of VoluntaryOrganisations(ACVO) 8,484 - - (6,704) - 1,780
Highlife Highland - Open Programme 192 10,000 - (7,332) - 2,860
Highland Multiply 6,098 52,133 6,466 (64,697) - -
Edinburgh College - ESOL Programme - 9,600 - (9,600) - -
HongKongBNO ESOL Project 10,155 - - (10,155) - -
Glasgow Clyde College - ESOL Strategy - 12,250 - (12,250) - -
Borders Multiply - 2,310 (2,310) - -
-Fife Multiply - 172,308 (136,690) - 35,618
Aberdeenshire Council – Multiply - - 31,843 (31,843) - -
Highland Council – EmployabilityPartnership - 7,811 (7,352) - 459
Edinburgh Multiply - 4,620 (720) (3,900) - -
Glasgow Multiply - 151,028 (125,247) - 25,781
Glasgow MultiplyPhase 2 - 28,615 (28,615) - -
Scottish Government - Directorate for Mental Health
& Social Care Support 26,104
60,661		 29,095 (103,989) - 11,871
Balance carried forward 526,428 11,990,028
 (729,136) (11,405,981) - 381,339

70

Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

13f. Statement of funds (continued)

Prior year statement of funds (continued)

Other restricted funds

Transfer
At 1 Accrued/ from/(to) At
August Received Deferred Funded General 31 July
2023 income income expenditure Fund 2024
£ £ £ £ £ £
Capital Grants
ESFA Capital Grant-EnergyEfficiencies 272,442 - - - (84,075) 188,367
ESFA Capital Grant- FE Reclassification 677,115 - - - (135,017) 542,098
ESFA Capital Grant - Transformation - 8,645,560 (1,688,679) (2,846,866) 4,110,015
Restricted Capital Proceeds 349,557 - - - (168,033) 181,524
Liverpool CityRegion 7,536 - - - - 7,536
Total restricted capital funds (note 13) 1,306,650 8,645,560 (1,688,679) - 5,029,540
(3,233,991)

71

Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

14. Reconciliation of change in resources to net cash inflows from operating activities

2024/25 2023/24
£’000 £’000
Net incoming resources 737 3,958
(Gain)/loss on disposal of fixed assets 317 (17)
Depreciation 750 725
Other finance charges 1,217 1,272
Decrease/(Increase) in debtors (345) (250)
Increase in creditors and provisions (1,639) 1,229
Interest received (439) (418)
Other finance income (1,226) (1,309)
Non cash movements in respect of FRS 102 s.28 (51) (361)
Net cash inflow from operating activities (679) 4,829

15. Return on investments and servicing of finance

2024/25 2023/24
£’000 £’000
Income from investments and interest receivable 439 418
Net cash inflow for return on investments and servicing of finance 439 418

16. Analysis of change in net funds

At At
1 August 2024 Cash flow 31 July 2025
Net cash £’000 £’000 £’000
Short term deposits 6,980 2,305 9,285
Bank and cash 6,656 (6,085) 571
Total net funds 13,636 (3,780) 9,856

17. Trustees’ expenses and remuneration

The Trustees neither received nor waived any emoluments during the year.

2024/25 2023/24
£’000 £’000
Trustee meeting 4 8 4 8
Trustee travel 3 3
Trustee Recruitment - -
Total net funds 4 11

The number of trustees reimbursed out of pocket travel and subsistence expenses was 6 (2023/24:3).

72

Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

18. Pension schemes

At 31 July 2021 the pension schemes operated by the Association are the Teachers' Pensions scheme (TPS), the Scottish Public Pension Agency scheme (SPPA) and The People's Pension. Staff are auto-enrolled into these schemes based on job roles and eligibility.

The WEA pension scheme closed to new accruals at 31 August 2019. The existing scheme funds continue to be managed by The Pensions Trust (TPT) who act as trustee and administrator. Contributors were transferred to the People's Pension scheme.

The TP and SPPA schemes are unfunded multi-employer defined benefit schemes for teaching staff.

The pension charge for the year includes contributions payable to the TPS of £901,255 (2023/24 £1,157,657) and at the yearend £164,614 (2023/24 £114,414) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a “pay as you go” basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

The pension charge for the year includes contributions payable to the SPPA of £62,672 (2023/24: £84,406) and at the year-end £6,115 (2023/24: £6,347) was accrued in respect of contributions to this scheme.

The employer SPPA contribution rate is 26%. This is a single level contribution and not tiered the same way as employee contributions which attract rates of between 7.35% and 12.14%.

The People’s Pension scheme is a defined contribution scheme. The lowest permitted employee contributions are 3.5% with the employer contributing 4.5%. This meets the new Government requirements of a workplace pension scheme with minimum contributions of 8% with an employer funding at least 3%. Employees can still choose to make higher contributions but the employer contribution remains at 4.5%.

The WEA Scheme is a defined benefit scheme in the UK and provides benefits on a final remuneration basis for service up to 31 July 2016 and on Career Average Revalued Earnings (CARE) basis for service from 1 August 2016. The scheme is funded and is contracted out of the State scheme. A full actuarial valuation was carried out at 30 September 2017, and was updated to 31 July 2020 and updated again to September 2023 by a qualified actuary independent of the scheme's sponsoring employer. This scheme was closed to new contributions at 31 August 2019.

This provisional triannual actuarial valuation for September 2023 shows a deficit of £605,000. The WEA agreed with the Trustee that the payment of £403k per year will cease at the end of November 2024 as the deficit will be eliminated. The scheme expenses are paid at £8,833 per month.

The group is aware of the Virgin Media v NTL Pension Trustees II Limited Court of Appeal judgement which may give rise to adjustments to the WEA scheme. At present the legal process is incomplete and therefore we are unable to quantify any potential liabilities.

Last year The Pensions Trust (TPT) advised us that due to uncertainty about the benefits that have been paid to members of the WEA pension scheme, the trustees have received legal advice that it should ask the court to provide clarity. If the court case goes against TPT there will be a potential additional liability at an estimated [10%] of total liabilities. Therefore, in the case of WEA this is estimated at circa £4.4m.

The principal assumptions used by the actuary in accordance with FRS 102 s.28 are shown below. The Trustees have relied upon advice from the Pensions Trust in determining the financial assumptions.

73

Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

18. Pension schemes (continued)

2024/25 2023/24
Discount rate 5.71% 4.90%
Inflation (RPI) 2.93% 3.14%
Inflation (CPI) 2.58% 2.72%
Deferred Revaluation: RPI max 5% 2.93% 3.14%
Deferred Revaluation: RPI max 2.5% 2.50% 2.50%
Salary Increases
 3.00% 2.00%
Allowance for pension in payment increases of CPI, max 5% p.a. 2.56% 2.68%
Allowance for pension in payment increases of CPI, max 3% p.a. 2.11% 2.18%
Allowance for pension in payment increases of CPI, max 2.5% p.a. 1.88% 1.94%
using notional commutation factors 75% of maximum
The mortality assumptions adopted imply the following life expectancies (in years):
Male retiring at age 65 in 2024 21.7 21.4
Female retiring at age 65 in 2024 23.9 23.7
Male retiring at age 65 in 2044 23.3 22.9
Female retiring at age 65 in 2044 25.3 25.1
a) Fair value
2024/25 2023/24
£’000 £’000
Present value of scheme liabilities (23,082) (25,548)
Fair value of scheme assets 23,561 25,718
Effect of asset ceiling (479) (170)
Surplus - -
Amounts in the balance sheet
Liabilities - -
Assets - -
Net surplus to be recognised - -

b) Change in liabilities during the period

2024/25 2023/24
£’000 £’000
Opening scheme liabilities 25,548 24,844
Current service cost - -
Interest cost 1,217 1,272
Contributions by employees - -
Loss due to benefit changes - -
Actuarial loss (2,230) 661
Benefits paid (1,453) (1,229)
Closing liabilities 23,082 25,548

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Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

18. Pension schemes (continued)

c) Change in assets during the period

2024/25 2023/24
£’000 £’000
Opening fair value of the scheme assets 25,718 25,352
Interest income 1,226 1,309
Expenses (189) (144)
Return on assets excluding interest income (1,981) (75)
Contributions by employer 240 505
Contributions by employees - -
Benefits paid (1,453) (1,229)
Closing assets 23,561 25,718
d) Analysis of amount charged to the income statement
2024/25 2023/24
£’000 £’000
Current service cost - -
Expenses 189 144
Benefit changes - -
Net interest cost - -
Total amount recognised in the income statement 189 144
e) Statement of other comprehensive income
2024/25 2023/24
£’000 £’000
Return on assets excluding interest income (1,981) (75)
Experience (losses) on liabilities (234) 8
Gain for change of assumptions 2,464 (669)
Effect of change in non-recoverable surplus (300) 375
Net cumulative actuarial loss (51) (361)
The loss for change in assumptions is further analysed below:
Gain/(Loss) from change of demographic assumptions (119) 109
Gain from change of financial assumptions 2,583 (778)
2,464 (669)
Amount recognised in the SOFA
Amount recognised in the SOFA to bring the pension surplus to nil (60) (398)

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Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

18. Pension schemes (continued)

f) Fair value of assets

Value at Value at
31 July 2025 31 July 2024
£’000 Proportion £’000 Proportion
Equity type assets 1,336 5.7% 2,286 8.9%
Bonds 13,370 56.7% 12,900 50.1%
Property 1,356 5.8% 1,411 5.5%
Other 7,499 31.8% 9,121 35.5%
Total value of assets 23,561 100.0% 25,718 100.0%
h) Amounts for the current and previous periods are as follows:
2024/25 2023/24 2022/23 2021/22 2020/21
£’000 £’000 £’000 £’000 £’000
Present value of scheme liabilities (23,082) (25,548) (24,844) (31,964) (39,935)
Scheme Assets 23,082 25,548 24,844 31,964 39,935
Surplus (deficit) - - - - -
* adjusted for asset ceiling £479,000 (2023/24: £170,000, 2022/23: £508,000) to bring surplus to zero.
Experience adjustments on scheme liabilities (234) 8 (1,137) (2,140) 98
Percentage of the present value of scheme liabilities 1.0% 0.0% 6.7% -0.2% -0.5%
Experience adjustments on scheme assets (1,981) (75) (9,418) (8,080) 2,046
Percentage of the fair value of scheme assets -8.6% -0.3% -25.3% -4.5% 7.1%

i) Additional information for The Pensions Trust - WEA Pension Scheme

The scheme is a defined benefit (final salary) funded pension scheme. The scheme was closed to further contributions at 31 August 2019. At the time all contributors were transferred to the People’s Pension.

The scheme assets do not include investments issued by the sponsoring employer, nor any property occupied by the sponsoring employer.

The overall expected rate of return on the scheme assets has been based on the average expected return for each asset class, weighted by the amount of assets in each class.

The scheme holds Contingent Assets in the form of a security in favour of the Trustee over the office property situated at 4 Luke Street, London, EC2A 4XW which was valued at £3,550,000 on 31 March 2019, in respect of all sums which are, or may become due and payable by the sponsoring employer to the Scheme. At 31st July 2022 the charge is capped at £2,500,000.

The scheme holds quoted securities, and these have been valued at bid-price.

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Workers’ Educational Association trustees’ annual report and accounts

Notes to the financial statements for the year ended 31 July 2025

19. Investment income

2024/25 2023/24
£’000 £’000
Interest on cash deposits 439 418
Interest on pension scheme assets 1,226 1,309
1,665 1,727

20. Investments in subsidiaries

At 31st July 2025 the Association owned the entire issued share capital of 1 ordinary shares (2023/24: 1 share) of WEA Trading Ltd. At 31st July 2024 the aggregate of share capital and reserves of WEA Enterprises Limited was £1. (2023/24: £1)

The company has not traded during the period and has nil assets at 2024/25 (2023/24: nil). Consolidated accounts have not been prepared given that the results of the company and its aggregate reserves and capital are immaterial in the opinion of the trustees.

21. Related party transactions

Owing to the nature of the Association’s operations and the composition of the Board of Trustees, being drawn from local, public and private sector organisations, it is likely that transactions will take place from time to time with organisations in which a member of the Board of Trustees may have an interest. All transactions involving such organisations are conducted at arm’s length and in accordance with the Association’s Financial Regulations and normal procurement procedures. During the year there were related party transactions of £0 (2023/24: £0).

22. Provisions

2024/25 2023/24
£’000 £’000
Leased property £’000 £’000
dilapidation
At 1 August 255 326
Provisions charged 50 -
Provisions released (108) (71)
At 31 July 197 255

Provisions are made when a legal or constructive obligation is identified and the liability can be reasonably quantified. These provisions are reviewed annually as at the year-end date and are adjusted to reflect the latest best estimate of the present obligation concerned. These adjustments are reflected in the statement of financial activities for the year.

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Workers’ Educational Association trustees’ annual report and accounts

WEA learner