Charity registration number 1121957 (England and Wales)
THE USBORNE FOUNDATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE USBORNE FOUNDATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
N Usborne
M Usborne
A Pavell
{Appointed 22 September
2025)
Charity number (England and Wales
1121957
Principal address
Usborne House
8&85 Saffron Hill
London
EC1 N 8RT
Auditor
West & Bery Limited
Nile House
Nile Street
Brighton
BN1 1HW
Bankers
Coutts
440 Stand
London
WC2R OQS
Solicitors
Sphere Legal Limited
174 Hammersmith Road
London
7JP

THE USBORNE FOUNDATION
CONTENTS
Page
Trustees, report
Independent auditor's report
Statement of financial activities
Balance sheet
Notes to the financial statements
9-15

THE USBORNE FOUNDATION
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance ￿fjth the accounting policies set out in note 1 to the
financial statements and comply wth the charity's trust deed, the Charilies Ad 2011 and "Accounting and Reporting
by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January
2019).
Objectives and activities
The trustees shall hold the trust fund and must apply the income of the Charity in fvrthering the following objects
to support such charity or charities or charitable purposes as the Trustees shall in their absolute discretion
think fit..
to support the furtherance of education generally:
for the relief of poverty in particular but not limited thereto in children- and which are for general purposes
beneficial to the public.
The policy of the Charitable Trust is to ftjnd and sponsor other charities and to make appropriate donations to such
charitable institutions as it considers appropriate. The policy is to support the furtherance of education generally and
the relief of poverty in particular which are for general purposes beneficial to the public.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they
charity should undertake.
Achievements and performance
The Trustees continue to examine new projects for future donations. The Trustees made donations to Teach Your
Monster Limited of £1,000,000 (2023= £1.000,193) as a contribution to the costs incurred by the Company in
developing computer games to assist in education in order to improve children's reading skills. The charity also
donated to Mind, OCDAction, Greenpeace and Compassion in INorld Farming.
Financial review
The Trust relies solely on its income from investments and donations to carry out its work. The administration costs
in running the charity are considered satisfactory. Funds available are sufficient to permit the charity to continue in
operation in the medium temi. During the period under review the surplus was £1.329,872 (2023.. deficit
£1,003,434). Reserves at the year end were £1,375,836 (2023: £45,964).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves
at this level will ensure that, in the event of a significant drop in funding. they will be able to continue the charity's
current activities while consideration is given to ways in which additional funds may be raised. The trustees are
satisfied, that the level of reserves was therefore in line with the policy of holding at least three months, worth of
expenditure.
Plans for future periods
The charity intends to continue its funding in the majority for literacy based projects.
Structure, governance and management
The Charitable Trust is constituted by the Trust Deed. The Charity is registered with the Charity Commission of
England and Wales.
The trustees who served during the year and up to the date of signature of the financial statements were..
T P Usborne
(Deceased 30 March 2023)
N Usborne
M Usborne
A Pavell
(Appointed 22 September 2025)

THE USBORNE FOUNDATION
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
New trustees receive an induction which indudes trustees responsibilities and financial and other controls.
Anjanette Pavell was appointed as third twstee in September 2025 after the death of Peter Usbome. The charity
does not intend to recruit any further trustees.
The Trustees actively review the major risks which the charity faces on a regular basis and believes that maintaining
its current reserves at current levels combined with the annual review of the controls over the key financial systems
will provide sufficient resources in the event of adverse conditions.
Statement of trustees. responsibilities
The trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The trustees, report was approved by the Board of Trustees.
N Usborne
Trustee
Date..
28 Oct 2025

THE USBORNE FOUNDATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE USBORNE FOUNDATION
Opinion
We have audited the financial statements of The Usborne Foundation (the 'charity') for the year ended 31
December 2024 which comprise the ststement of financial activities, the balance sheet, the statement of cash flows
and notes to the financial statements, including significant accounting policies. The financial reporting framework
that has been applied in their preparakn'on 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..
give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming
resources and application of resources, for the year then ended.,
have been properly prepared in accordance wth United Kingdom Generally A¢￿pted Accounting Practice.,
and
have been prepared in accordance with the Charities Act 2011.
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 Auditorfs responsibilities for the audit of
the financial statements section of our report. We are independent of the charity in accordan￿ 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 concem basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not idenlified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going COn￿M are described in the
relevant sections of this report.
Other infonnation
The other infomiation comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider
whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or othe￿iSe appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements. we are required to detemiine whether this gives rise to a material misstatement
in the financial statements themselves. If, based on the work we have perfomed, 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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and
Reports) Regulations 2008 requires us to report to you if. in our opinion..
the information given in the financial statements is inconsistent in any material respect with the trustees,
report., or
sufficient a¢¢ounting records have not been kept,. or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.

THE USBORNE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE USBORNE FOUNDATION
Responsibilities of trustees
As explained more fully in the statement of trustees, responsibilities. the trustees 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 charity's ability to continue as a going concem, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or
have no realistic altemative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the
Act 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 the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-complian￿ with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities. including fraud. is detailed below.
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements
due to fraud or error., to obtain sufficient appropriate audit evidence regarding the assessed risks of material
misstatement due to fraud or error,. and to respond appropriately to those risks. In identifying and assessing risks of
material misstatement in respect of irregularities, induding fraud and non-compliance with laws and regulations, our
procedures included the following..
We obtained an understanding of the legal and regulatory frameworks applicable to the charity and the
sector in which it operates. We determined that the following laws and regulations were most significant..
the Charities Act 2011 and the Charity SORP.
We obtained an understanding of how the charity is complying with the legal and regulatory frameworks by
making inquiries to management.
We assessed the susceptibility of the charity's financial statements to material misstatement. including how
fraud might occur.
Audit procedures performed by the engagement team induded..
identifying and assessing the design effediveness of Controls management has in place to prevent and
detect fraud;
understanding how those charged with govemance considered and addressed the potential for override of
controls or other inappropriate Influen￿ over the financial reporting process.,
made enquiries with management, including consideration of known or suspected instances of fraud or
non-compliance.,
assessing the extent of compliance with the relevant laws and regulations.
challenging assumptions and judgments made by management in its significant accounting estimates-
identifying and testing joumal entries, in particular any journal entries posted with unusual account
combinations.,
performed analytical procedures to identify any unusual or unexpected relationships- and
investigated the rationale behind significant or unusual transactions.
Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial
statements may not be detected. even though the audit is propedy planned and performed in accordance with the
ISAS (UK). For instance, the further removed non-compliance is from the events and transactions reflected in the
financial statements, the less likely the auditor is to become aware of it or to recognise non-complian￿.

THE USBORNE FOUNDATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE USBORNE FOUNDATION
A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11
www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditor's report.
Other matters
In the previous accounting period the charity was not required to undertake an audit. therefore the comparatives
have not been subject to audit.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" (as
amended) in preference to the Accounting and Reporting by Charities= Statement of Recommended Practice issued
on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
This has been done in order for the financial statements to provide a twe and fair view in accordance with current
Generally Accepted Accounting Practi￿.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees
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 charity and the charity's
trustees as a body, for our audit work, for this report, or for the opinions we have fomied.
Mi6Aelle Wert6ury FCCA
Michelle Westbury FCCA (Senior Statutory Auditor)
For and on behalf of West & Berry Limited, Statutory Auditor
Chartered Certified Accountants
Nile House
Nile Street
Brighton
BN1 1HW
Date.. 28..OLt.2025...

THE USBORNE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Unrestricted
funds
2023
Notes
Income from:
Donations and legacies
Investments
2,352,515
4,141
4,279
5,532
Total income
2,356,656
9,811
Expenditure on:
Charitable activities
1,026,784
1,013,245
Total expenditure
1,026,784
1,013,245
Net in¢omel{expendltu￿) and movement in funds
1,329,872
{1,003,434)
Reconciliation of funds:
Fund balances at 1 January 2024
45,964
1,049,398
Fund balances at 31 December 2024
1,375,836
45,964
The statement of financial adivities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

THE USBORNE FOUNDATION
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Current assets
Debtors
Cash at bank and in hand
12
1.254,327
127,514
1,812
46,557
1.381,841
48,369
Creditors: amounts falling due within
one year
13
(6,005)
(2,405}
Net current assets
1,375,836
45,964
The funds of the charity
Unrestricted funds
14
1,375.836
45,964
1,375,836
45,964
The financial statements were approved by the twstees on 2&flct.2025...
nJic&IA Ucbothe
N Usborne
Trustee

THE USBORNE FOUNDATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated froml(absorbed by)
operations
16
76.816
(1,055,166)
Investing activities
Investment income received
4.141
5,532
Net cash generated from investing activities
4.141
5,532
Net cash generated from financing activities
Net increaselldecrease) in cash and cash
equivalents
80,957
(1,049,634)
Cash and cash equivalents at beginning of year
46,557
1,096,191
Cash and cash equivalents at end of year
127.514
46,557

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity information
The Usborne Foundation is a charity registered in England and Wales (charity number 1121957) The principal
address is set out under the Legal and Administrative details page.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's goveming document, the
Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
{"FRS 102.) and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public
Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports} Regulations 2008 only to
the extent required to provide a true and fair view. This departure has involved following the Statement of
Recommended Practice for charities applying FRS 102 rather than the version of the Statement of
Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical Cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existen￿ for the foreseeable future. Thus the trustees
continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance Conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in
relation to donations re￿iVed under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise rf the charity has been notified of an impending distribution,
the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
{Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or conslructive obligation to transfer economic benefit lo a
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each aclivity are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis
consistent with the use of resour￿$. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or lo realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which indude debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable wthin one year are not amortised.
Basic financial liabilities
Basic financial liabilities. induding creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carrred at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or sepiices that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
{Continued)
1.8 Employee benefits
The cost of any unused holiday entidement is recognised in the period in which the employee's services are
re￿ived.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide temiination benefits.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated 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 underfying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from donations and legacies
un￿striCted
funds
2024
Unrestricted
funds
2023
Donations and gifts
2,352,515
4,279
Income from investments
Unrestricted Unrestricted
funds
funds
2024
2023
Interest receivable
4,141
5,532

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Expenditure on charitable activities
Charitable
activities
2024
Charitable
activities
2023
Direct costs
Grant funding of activities (see note 6)
1,015,000
1,000,193
Share of support and governance costs (see note 7)
Support
Governance
5,784
6,000
10,592
2,460
1,026,784
1,013,245
Analysis by fund
Unrestricted funds
1,026,784
1,013,245
Grants payable
Charitable
activities
2024
Charitable
activities
2023
Grants to institutions..
Teach Your Monster
Other
1,000,000
15,000
1,000,193
1,015,000
1,000,193
Charitable activities
Donations are made to support such charity or charities or charitable purposes as the Trustees see fit as
detailed in the Constitution.
Support costs allocated to activities
2024
2023
Bank charges
Consultancy
Governance costs
505
5,279
6,000
494
10,098
2,460
11,784
13,052
Analysed between:
Charitable activities
11,784
13,052

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Support costs allocated to activities
{Continued)
2024
2023
Governance costs comprise:
Audit fees
Accountancy
3,600
2,400
2,460
6,000
2,460
Net movement in funds
2024
2023
The net movement in funds is stated after chargingl(crediting)=
Fees payable to the charity's auditor-.
for the audit of the charity's financial statements
for other financial services
3,600
2,400
Trustees
None of the trustees (or any persons connected V￿th them) re￿iVed any remuneration or benefits from the
charity during the year.
10 Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Total
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
11
Taxation
The charity is exempt from tax on income and gains falling wthin section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 Debtors
2024
2023
Amounts falling due within one year:
Other debtors
1,254,327
1,812

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Creditors: amounts falling due within one year
2024
2023
Other creditors
Accruals and defe￿ed income
6,000
2,400
6,005
2,405
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balan￿S of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted fvnds by the trustees for specific purposes.
At 1 January
2024
Incoming
resources
Resources
expended
At31
December
2024
General ￿ndS
45,964
2,356,656
{1,026,784)
1,375,836
Previous year:
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
General funds
1.049,398
9,811
{1,013,245}
45,964
15 Related party transactions
Transactions with related parties
Donations received from related parties amounted to £2,352,514 (2023= £Nil). Donations paid to Teach Your
Monster Limited £1,000.000 (2023.. £1,000.193). At the year end date £354.327 (2023.. Nil) included in Other
Debtors was receivable from Teach Your Monster Limited.

THE USBORNE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Cash generated froml(absorbed by) operations
2024
2023
Surplusl(deficit) for the year
1.329,872
(1,003,434)
Adjustments for:
Investment income recognised in statement of finanaal activities
(4,141)
(5,532)
Movements in working capital:
(Increase) in debtors
Increasel(decreasel in creditors
{1,252,515}
3,600
(46,200)
Cash generated froml(absorbed by) operations
76,816
(1,055,166)
17 Analysis of changes in net funds
The charity had no material debt during the year.