Reglstered number: 06413331
Charlty number: 1124064
LEARNING SKILLS RESEARCH FOUNDATION LIMITED
(A company Ilmlted by guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
CONTENTS
Page
Reference and admlnlslratlve detslls of the charlty, Its trustees and advlser8
Tru$tso6' rnport
Independent examinees report
Statement of financial activities
Balance sheet
10
Notes to the finon¢lal staternonts

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEM8ER 2023
Trustees
C A Shott, Director
M Tovey. Director
C Green
R Price OBE QC
PD8rett
Cornpany regiittrred nUM￿r
06413331
Charity rngisterod number
1124064
Rggistored offlcè
Cald8r & Co, 30 Orangè Slr86t, London, WC2H 7HF
Cornpany secretary
Mary Tov8y
AGcountants
Cald8rs118831 LLP, 30 Orange Street, London. WC2H 7HF
Page 1

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEM8ER 2023
The Trustees presenl their annual report together with the financial slatemenls of the company for the year
ended 31 December 2023. The Trustees confirm that the Annual Report and finanoal statements of the
company comply with the ujrrent statutory requirements. the requiremenls of the companls governing
document and preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffectlve 1 January 20151- (Charities SORP IFRS 10211, Ihe Financial
Reporting Standard applicable in the UK and Republlc of Ireland IFRS 102) and the Companies Act 20(￿.
Since the company qualKles as small under sedon 383, the straleglc report required of medium and large
companies under The Companies Act 2CM)6 {Slrategic ReFQrt and Directorfs Report) Regulations 2013 Is not
required.
OBJECTIVES AND ACTIVITIES
Pollcles and objectlves
The principal object of the company is to seek and support Snveslmenl in academic research within the fields of
neuroscience and psythology, in order lo afford teachers, parents and others. a better understanding of the
leaming process and in order lo develop new leaming skllls for application to the needs of chlldren and adults,
Includlng those ￿th special needs.
b. Revlew ol actlvltles for achlevlng obJectlve$
Leaming Sknlls Research FOUnda￿on contlnued its fund-ralslng for Its wholly owned subsidiary educatk)nal Ihlnk
tank, Leamus Iwww.leamus.co.ukl
Leamus is an education think tank that seeks to make connedons between the wodd-leading UK research In
neuroscience and best classroom practice. Our alm is lo ensu￿ that the growing understanding of how the braln
works and how it leams translates into improved interventions and eduCat￿nal outcomes.
Leamus is uniquely positioned to do this sitting al the interface of researchets and educators, and a track record
of wnning events, publishing materials. helping to run Random Control Trials of new neurO￿lence-ln$plred
leaming activities, and consulting with teachers. There is no equivalent organisalion who is working with
teachers to build knowledge about the brain. which is go important for undefstsnding the processes of leaming.
During this accounting period the follobmng donations were received-.
£10,000 from Dovedale Foundation Inon-specificl. £30.000 from Shidey Conran (for the ongoing marketing and
promotion of Maths Anxiety Trust and -money Stuff. an online maths course. We also received £50,000 from
Shidey Conran for the setting up of a Task Group of academics and teachers lo research into why teachers in
the UK feel they haven't been suffiuently trained lo teach
maths.
During this peri¢)d we presented our Conference "FutureEd23". The theme for the Conference was.. -The place
of educational neuroscience in the early eareer framework for teacher
èducation and development." The Conference was presented in associat￿n wth the Chartered College of
Teaching and the Centre for Educational Neuroscience.
Page 2

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEM8ER 2023
Chaired by Richard Newton-chance the speakers were.. Professors Mithael Thomas {Director of the Centre for
Educational Neuroscience) Duncan Astle (Deparlment of Psychiatry and MRC Cognition and Brain Sciences
Unil, and Fellow of Robinson College, Cambridge) Paul Howard-Jones (Professor of Neuroscience and
Educauon al the Schwl of Education, University of Brbstoll Dr Kendra Mcmahon (Reader In Education at Bath
Spa University) Jeremy Dudman-Jones (Assislanl Headleacher al Greenford High School, London) Peter Mather
l Head of tralning & development. Greenford High Sch¢x>l, London) and Cara Carey (Developmenl Lead, Teach
First Programme Support). The video of the Conference and the speakers, slides were published on the
Leamus website.
Our Annual Lecture was glven by Stanlslas Dehaene. His topic was".
"How We Leam.. Why brains leam better than any machine...for no
Professor Stsnislas Dehaene Ss Presldent of the French Scientiflc Council for Education
and Chair of Expedmenlal Cognitive Psychology at Collège de France in Paris. He is
author of many best- selling bcx)ks including "Reading in the Brain" "Number Sense"
and 'How We Learn".
Rovlng Reporter
This project has become Increasingly popular. The Leamus team visits academics Sn thelr university labs and
Interview them al)oul their work and Its relevance for teachers.
In 2023 Learnus visited the Blakemore Lab and filmed an interview ￿th its Pdncipal Invesligalor, Sarah-Jayne
BlakeMO￿ who Ss Professor of Psychology and Cognitive Neurosclence at the Unlversity of Cambridge. Her
group's research focuses on the development of social cognition and decision making in the human adolescent
braln, and adolescent mental health. Her group runs behavioral studies in schools and In the lab, as well as
neuro-lmaging studies, with adolescents and young adults. The wdeo is available on the Leamus website and
the Leamus YouTube Channel
ABCD Lab Oxford
Leamus visited the Allenlion, Brain & Cognitive Development IABCDI lab in Oxforrj
and interviewed ils Principal Investigator, Professor Gaia Scerrf and her colleagues.
The ABCD Lab is part of University of Oxford's Experimental Psychology Division.
Their work focuses on".
Academic Development & Leaming Dtfficulties Attention, Brain Imaging. Brain Systems
Childhood & Adolescence13-18 years). Cognition & Infomiation Processing Learning
and Memory. The video is available on the Leamus website and Leamus YouTube Channel
MATHS ANXIETY TRUST
During this period and al the request of Dame Shirley Conran, we made Maths Anxiety Tnjsl {a project she had
foundedl a Division of Leaming Skills Researeh Foundation. We will continue her imK)Ortanl work in bringing
attention to maths anxiety. To that end, we worked with the Centre for Social Justice at their fringe presentations
al both the Conservative and Labour Party Conferences in 2023. Professor Margaret Brown OBE. fomier Chair
of the Joint mathemab.cal Council of the UK and forrner adviser to the Department of Education on the maths
curriculum represented Maths Anxiety Trust at these èvents.
The Learnus Webinars
During this period. we also presented the followng wèbinars:
'If Maths Anxiety could talk"
Leamus Council Mernber, Fay Cosgrove led a webinar as part of the ESRC'S Festival of S¢xial SeientA. It was
attended by nearly 70 teachers of maths and those in allièd fields from aeross the UK and beyond. She reported
on a research project about maths anxiety in UK undergraduates, applying the findings to the classroom and
asking questions of 'besl practice, in the light of participants, experiences. She tsu￿1ned the novel research
Page 3

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEM8ER 2023
methc*Y used. The questions asked by allendees suggest an encouraging level of practitioner support for
reducing anxiety al))ul maths. A recoTdSng of Ihe session Is avablable on the Leamus and Maths Anxiety Trust
websites.
"Maths In the Early Years Foundatlon Stage- what are the prlorltles for our youngesl learners?"
This webinar glven by Dr Sue Gifford drew upon research to idenltfy key issues in maths education from blrth to
five. including p￿dictorS for later learning and effective pedagogy. Dr Gifford discussed implications for
practitioners, senior leaders and professional development. The video of this webinar is available on Ihe Leamus
websf(e and the Learnus YouTube channel.
Dr Sue GKford Wofks as an eady years mathematics consultant varlous groups, Includlng practitioners and
official bcNJies, including DFE, NCTEM and ACME. She Is a past chalr of BSRLM (the British &tiety for
Research Into the Learning of Malhematbcsl and currently chabrs the Early Chlldhood Maths Group.
"Beyond retrleval to rlcher foms of consolldatlng knowledge and strengthenlng learnlng.
"This webinar was given by Professor Derek Bell IDirector of Leamusl and Dr Kendra Mcmahon, Reader In
Educallon at Bath Spa University, co-lead of the Centre for Research in Scienlrfic and Technologbcal Educatic
and Leamlng.
Research Projects
During this period Leamus was asked to partner In a new research project led by the Unlvershy of Surrey to
explore improvements in mathematical leaming. Known as the SPACE project it Is a whole class, strUctu￿d
approach to Lego play, guided by a leacherlleaching assistant {TAI. The programme aims to Improve spatial
thinking and spatial language skllls through problem solwng, leading to improved mathematics outcomes
Includlng arbthmetic, geomety, and problem solving. Children presented wrlh pIctu￿S of exploded Lego models,
which they use lo build their own Lego model using physical Lego bricks. Lego play through the intervention Is
largely autonomous, Mlh support from leachetsffAs ￿a prompts, lo encourage spatsal talk to problem solve
whilst manipulating Le90.
Funded by the Education EndsThment Foundation, the program Mll pro￿de appropriate training and resources to
work wtth young children in Year 2 during their maths lessons for 6 hours over a period of 6 weeks. This pilot
project wtih 450 children across 15 schools will be evaluated by the cent￿ for Evidence and Implementalion in
order to assess its feasibility for wider implementation. It wll also include pupil assessments to measure spatial
and maths attainment. before and after the intervenlK)n.
c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITfS PURPOSES FOR PUBLIC BENEFIT
In setting objectives and planning for activities the Trustees have given due ¢)Jnsideralion to general guidance
published by the Charity Commission relating lo public benefit and are confident that there is an identifiable
public benefit.
. KEY FINANCIAL PERFORMANCE INDICATORS
The charrty generates income from donations. In the year to 31st December 2023 income of £110.084 was
ceived.
b. INVESTMENT POLICY AND PERFORMANCE
The charity has no investments apart from bank daposits in thè f¢Jmi of donations from individuals and trusts.
Page 4

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEM8ER 2023
FINANCIAL REVIEW
. GOING CONCERN
After making approprlate enquiries, the trustees have a reasonable expectation that the company has adequate
resources to continue in operational existence for the foreseeable future. Fof this reason they continue lo adopt
the going concem basis In preparing the financial statements. Further details regarding the adopuon of the going
cnncem basss can be found in Ihe Accounting Policaes.
STRUCTURE. GOVERNANCE AND MANAGEMENT
. Constitutlon
On 15th June 2022 a specSal resolution was passed that the name of the company te changed from Leaming
Skblls Research Limited lo Learning Skills Reserach Foundation Limited. This was authorised by Companies
House on 27th July 2022.
The company is regSstered as a charitable company1Smlted by guarantee and was sel up by a Memorandum of
As￿latIOn on 30th October 2007.
The company is constituted under a Memorandum of Association dated 30th October 2C(17 and Is a wlstered
cha￿ty number 1124064.
b. Method of appointment or electlon of trustees
The management of the company Is the respDnsSbllhy of the Trustees who are elected and co-opted under the
terms of the Memorandum of Association Ath'des of Association.
Appointsnent of a Director of the charity can be made through an ordinary resolutbn.
c. Organisation structure and decision making
The structure of the Charity is as follows..
Chris Green IChaimian}
Caroline Shott (CEO
Lady Mary Tovey {MD and Secretary)
The two Directors (Lady Mary Tovey and Caroline Shottl have responsibilty of care for the funds raised. Chris
Green and Caroline Shott are responsible for monitoring Iwice yearly reK)Orting from the beneficiaries. The three
key Trustees Imenlioned above) meet regularly lo deal with affair5 of the charrty- Full Trustees meetings are
held as and when necessary bul not less frequently that twice a year.
Plans for future peri¢>ds
a. Future Dtrvolopmonts
The nature of future projects will largely b8 detemiinèd by the findings and rncomm6ndations of thè recently
èstablished Think-lank.
Page 5

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEM8ER 2023
TRUSTEES. RESPONSIBILITIES STATEMENT
The Tnjstees (of whom C A Shott and M Tovey are also directors of Leaming Skills Research Lbmlted for the
purposes of company lawl are responslble for Pfeparing the Trustees. report and the financial statements in
accordance with applicable law and United Kingdom Accounting Stsndards (Unfted Kingdom Generally Accepted
Accounting Praclicel.
Company law requires the Trustees to prepare financial stslements for each financial year. Under company law
the Trustees must not approve Ihe financial slalements unless they are satisfied that they give a true and fair
vlew of the slate of affalrs of the charitable company and of the Incoming resources and application of resources,
ncludlng the income and expenditure, of the chanlable company for that peric¥J. In prepadng these flnancial
statements, the Trustees are required to..
select suitable acc£sunting policies and then apply them consislenuy.
observe the methods and principles in the Charities SORP-,
make judgments and accounting estimates that are reasonable and prudent:
prepare the financial slalements on the going o)nc6m basis unless It is inappropriate to presum8 that
the charitable company will continue in operation.
The Trustee$ are responsible for keeping adequate ac¢ounting re￿r￿S that are suffiuenl lo show and explain
the Charitable compan￿$ Iransa¢tions and disdose with reasonable a¢¢uracy al any lime the financial position of
the charitable ￿MpanY and enable them lo ensure that the financial slalemenls ￿mplY with the Companies Act
2￿. They are alw responsible for safeguarding the assets of the charitable company and hence for tsking
reasonable steps for the prevention and detection of fraud and other irregularities,
This report was approved by the Trustees. on 15 October 2024 and signed on their behatf by..
C. ￿ Shott
Page 6

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEM8ER 2023
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEARNING SKILLS RESEARCH
FOUNDATION LIMITED (the 'company')
I report lo the charity Trustees (who are also Directors for the purpose of company lawl on my examination of the
accounts of the company for the year ended 31 December 2023 which comprise the Statement of Financial
Actlvities, the Balance Sheet and related notes
ThSs report Is made solely lo the companls Trustees. as a body. In accordance with sectlon 145 of the CharitSes
Act 2011. My work has been undertaken so Ihal I might stale to the companls Tnjstees those mallers l am
required to slate to them Sn an Independent examinerfs report and for no other purpose. To the fullest exlenl
permitted by law. I do not accept or assume responsibility to anyone other than the company and the companqs
Trustees as a body, for my work or for this report.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the company land ils dlrectors for the purposes of company law) you are responsbble for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 (￿e 2CIJ6 Act'l.
Having Sa￿sfied myself that the accounts of the company a￿ not required to be audited under Part 16 of the
2006 Act and are eligible for independent examlnalion, I report in respect of my examinatlon of the companls
accounts carried out under section 145 of the Chadlies Act 20111 the 2011 Acl'l. In carwng out my examination
I have followed the Diredons given by the Charity Commission under sectlon 14515}Ib) of the 2011 Act.
An independent examination does not invdve gathering all the evidence that would be required in an audtt and
consequently does not cover all the matters that an auditof considers in giving their opinion on the financial
statements. The planning and conduct of an audrt goes beyond the limited assurance that an independent
examination can prO￿de. Consequently l express no opinion as lo whether the financial slalements present a
Irue and fair, view and my report is limited lo those specific matters sel out in the independent examiner's
statement.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I can confirm that no matters have come to my attention in connection with
the examinatK)n givlng me cause to believe-.
accounting records were not kept in ￿SPect of the company as required by section 386 of the 2006 Act"
the accounts do not accord with those records,. or
Ihe accounts do not comply with the accounting requlremenls of secloon 396 of Ihe 2006 Act other than
any requirement that the accounls give a 'true and fairf view which is not a matter c£)nsidered as part of
an independent examinatlon.. or
the accounts have not been prepared In accordance with the methods and prfndples of the Slalement of
Recommended Pradce for accounting and reporting by charities lappllcable lo charities p￿paring their
accounts in accordance wlth the Flnancial ReFM)tlng Stsndard applicable in the UK and Republic of
Ireland IFRS 102}1.
Page 7

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
INDEPENDENT EXAMINER'S REPORT Icontinuedl
FOR THE YEAR ENDED 31 DECEM8ER 2023
I have no concerns and have come across no other matters in connection with the examination lo which
attention should be drawn in this report in order to enable a proper understandlng of the finanaal statements to
be reached.
Signed..
A Koupland
Dated.. 15 October 2024
ACA
CALDERS (18831 LLP
Chartered Accounlanls
30 Orange Street
London
WC2H 7HF
Page 8

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME ANO EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEM8ER 2023
Unre¥tricted Restricted
funds
fund¥
2023
2023
Total
funds
2023
Total
funds
2022
Nole
INCOME FROM:
Donations and legaues
Conference income
30,084
3,400
80.000
110.084
3.400
83. 750
TOTAL INCOME
33.484
80,1)00
113,484
83. 750
EXPENOITURE ON:
Raising lunds
Charitable aclivilies..
Events Costs
Consuliancy
You Gov Survey
Malhs Anxiety
Govemance
9,500
21.463
6.782
26.984
19.858
4.744
301
301
89,788
89,788
20,352
20,352
TOTAL EXPEND￿uRE
20,653
89,788
110.441
88.131
NET INCOME I (EXPENDITURE} BEFORE
TRANSFERS
Transfers between Funds
12.831
50
19.7881
1501
(4,387J
11
NET INCOME I (EXPENDITURE) BEFORE
OTHER RECOGNISED GAINS AND
LOSSES
12,881
19,8381
{4.381J
NET MOVEMENT IN FUNDS
12,881
19.8381
(4.387J
RECONCILIATION OF FUNDS:
Total funds brought forward
6,124
64,106
70.230
T4,617
19,005
54,268
73,273
TO.230
TOTAL FUNDS CARRIED FORWARD
The notes on pages 1110 18 form part of these finanaal sialements.
Page 9

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
REGISTERED NUMBER: 06413331
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Nole
FIXED ASSETS
Inveslments
1.201
CURRENT ASSETS
Debtors
Cash at bank and in hand
52,542
2Q,653
29.165
77,810
73,195
CREDITORS: amounts falling due within
ono year
10
15,7381
(2,966)
NET CURRENT ASSETS
72,072
TO.229
NET ASSETS
73.273
70,230
CHARITY FUNDS
Reslricled funds
Unrestn'cted funds
11
54,268
19,005
64.106
6.124
TOTAL FUNDS
73.273
70.230
The company's finanaal statements have been prepared in accordance with the provisions applicable to
companies subject lo the small companies regime.
The Trustees consider that the company is enliued to exemption from the requirement lo have an audit under the
provisions of section 477 of the Companies Act 20061.lhe Acl'l and members have not required the company to
obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with resFeCt lo accounting records and the preparation of financial stslements.
The financial stslements were approved and authorised for issue by the Tnjslees on 15 October 2024 and
signed on their behalf. by..
Capoliiig
C. A Shott
The notes on pages 1110 18 form part of these finanaal stalemenls.
Page 10

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
ACCOUNTING POLICIES
1.1 Basls of preparatlon ol Ilnanclal statements
The financial statements have been prepared in accordance wf(h Accounting and Reporting by
Chariues.. Statement of Recommended Practice applicable lo charities preparing their accounts in
accordance wtth the Financial Reports'ng Standard applicable in the UK and Republic of Ireland IFRS
1021 {effective 1 January 20151- Ichadties SORP (FRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Leaming Skllls Research Foundation Limited meets the definition of a publlc benefft entity under
FRS 102. Assets and liabilrties are initially reccNJnised al hislorlcal cost or transaction valve unless
otherwise stated Sn the relevant accountlng wllcy.
12 Company status
The company is a company limited by guarantee. The members of the company are the Trustees
named on page 1. In the event of the company being wound up. the IlabS1ty in respect of the
guarantee is lim5ted to £1 per member of the company.
1.3 Income
All Income is recognised once the company has entitlement to the Income, tl is probable that the
Income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation lo dOnat￿S recelved under Gfft Aid or deeds of covenant Is
recognised at the time of the donation.
Page11

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
ACCOUNTING POLICIES {contlnued}
1A Expendlture
Expenditure Is recognised once there is a legal or conslruclive obligation to transfer economlc
benefit to a third party, It is probable that a transfer of economic benefits will be required in
selllemenl and the amount of the obligafjon can be measured reliably. Expenditure is dassrfied by
aclivity. The costs of each activity are made up of the totsl of dlrecl costs and shared costs.
Induding support costs Involved in undertaking each actlvity. Dbrecl costs attdbulable lo a single
activity are all¢xaled direcily lo that actbvity. Shared costs which contribute lo more than one activity
and support costs which are not attributable to a single actlvity are apportboned between those
activities on a basis conslstenl wth the use of resources. Central staff costs are allocated on the
basis of lime spent, and dePrec5a￿On charges allocated on the portion of the asset's use.
Support costs a￿ those costs in(#Jrred dlrectly in support of expenditure on the oblects of the
company and include project management carried out al Headquarters. Govemance costs are those
Incurred In connection administrallon of the company and compliance YAth Ca)nstitutSonal and
stslutory reqU5￿Ments.
Costs of generatlng funds are costs Incurred In attradng voluntary Income. and those Incurred In
tradlng activities that raise funds.
Charitable aCt[￿tieS and Govemance costs are costs incurred on the company's educatbonal
operations, including support tx￿1$ and ¢xtsts rela￿n9 to the 9ovemance of the company apwrtioned
to charitsble aclivilies.
Grants payable are charged in the year when the offer is made except in those cases where the
offer Is condttional, such grants being recognised as expenditu￿ when the conditions attaching are
fulfilled. Grants offered subject lo conditions which have not been met at the year end are noted as
commitment, bul not accrued as expenditure.
All expenditure is Inclusive of Irre￿erable VAT.
1.5 Intangible fixed assets and amortisation
Intangl￿e assets are capitalised and reLvJnised when future economic benefits are probable and
the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at
cost and are subsequently measured at cost net of amortisation and any provision for impaimienl
Amortisalion is provided on intangible fixed assets al rates calculated lo write off the cost of each
asset, less their eslimaled residual value, over their expeeled useful lives on the fdlowing bases..
Trademarks
10Yo Straight Line
1.6 Investrnentj
Fixed as5el investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured al fair value at the Balance sheet date. unless fair
value cannot be measured reliably in which case rt is rneasured al cost less impairment. Investment
gains and losses. whether realised or unrealised, are combined and shown in the heading
'Gainslllosses} on investments. in the Statement of financial aclivttie5 incorporating income and
expendtiure account.
Page 12

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
ACCOUNTING POLICIES {contlnued}
1.7 Intsrest recelvable
Inleresl on funds held on depostt is induded when receivable and the amount be measured
reliably by the company., this is nomially up)n nolrfication of the intefesl pald or payable by Ihe Bank.
1.8 Cash at Bank and In hand
Cash at bank and Sn hand includes cash and short temi highly Ilquid investments with a short
malurily of three months or less from the date of acquisition or opening of the deposit or similar
account.
1.9 Llabllltles and provlslons
Liabbllties are recognlsed when there Is an obIlga￿On al the Balance sheet date as a result of a past
event, il is probable that a transfer of economlc benefit will be required In setuemenl. and the
amount of the settlement can be estlmaled reliably. Liabilities are recognised at the amount that the
company anticlpales tt will pay lo settle the debt or the amount it has received as advanced
payments for the goods or servlces il must provide. ProvSslons are measured al the best estbmale of
the amounts required lo settle the obligation. Where the effect of the lime value of money Is
material, the provision is based on the present value of those amounts, discounted al the pre-tax
discount rale that reflects the risks specific lo the Ilability. The Un￿ndIng of the dI￿ount Is
recognised wtihin interest payable and similar charges.
1.10 Fund accountlng
General funds are unreslrfcled funds which are available for use at the dlscretlon of the TnJstees in
furtherance of the general objectives of the company and which have not been designated for other
purposes.
Restrlcted lunds are funds which are lo be used in accordance wf(h spectfic restrictions Imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is sel out in the notes to the financial statements.
INCOME FROM DONATIONS AND LEGACIES
Unreslrlcted Restrfcted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Donations
Glft aid
10.084
20.000
80.000
90.084
20.000
TO.000
13.750
Totsl donalions and legacies
30,084
80,000
110,084
83, 750
28. 750
55.000
83, 750
Page 13

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
OTHER INCOME
Unrnstrictèd
funds
2023
Rèstrictsd
funds
2023
Total
fundi
2023
Total
funds
2022
Conference income
3.400
3.400
MATHS ANXIETY COSTS
2023
2022
Book publishing costs
Professional fees
IT support costs
Website and promotional
Event costs
5,6B6
330
18,473
672
64,627
12.968
2.445
3. 706
739
Total
89,788
19.858
GOVERNANCE COSTS
2023
2022
Accounlancy fees
Professional fees
Bank charges
Website & promotional costs
IT costs
Publishing costs
Loan balance write bad(
2,372
2,361
174
2,266
7,732
42
5,405
2.890
986
88
180
Total
20,352
4,144
TRUSTEES EXPENSES
During the year, no Truste8s rec8ived any rernunerab"on12022- £NILI.
During the y8ar. no Trustees received any reimbursement of expenses12022- £NILI.
INDEPENDENT EXAMINER
The Independent Examinels reMUnera￿On amounts lo an Independent ExamlnalTron fee of £1,550 {2022.'
£1,550)
Page 14

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
INTANGIBLE FIXED ASSETS
Patents and
Tradomarkx
Cost
At 1 January2023
Disposals
3,173
13.1731
Al 31 Dec8mber 2023
Arnorti5ation
At 1 January 2023
Foreign exchange movement
3.173
13.1731
At 31 December 2023
Carrylng amount
Al 31 December 2023
At 31 D8cember 2022
FIXED ASSET INVESTMENTS
Unlisted
se¢uritie$
Historical cost
Al 1 January 2023
Additions
1,200
Al 31 December 2023
1,201
Investmenls at historical cost comprise:
2023
2022
Unlisted inv8Stments
1,201
All the fixed asset investments are held in the UK
Page 15

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
10. CREDITORS: Amounts falllng due wlthln one year
2023
2022
Trade credllors
Other creditors
Accruals and deferr8d income
2,772
266
2,700
266
2, 700
5.738
2.966
11. STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at
31
December
2023
Balance at
1 January
2023
Translers
inlout
Income Expenditure
Unrestricted fund¥
Reserves
6,124
33,464
{20,6531
19,005
Reslrlcted funds
Maths Anxiety
Leamus Confèrences
64.056
80.000
(89.7881
54.268
Iso)
64,106
80,000
(89,7881
Iso)
54,268
Totsl offunds
70,230
113,484
1110,4411
73,273
Page 16

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
11. STATEMENT OF FUNDS Icontlnuedl
STATEMENT OF FUNDS- PRIOR YEAR
Balance 81
31
Decembér
2022
Balanc& al
l J8nu8ry
2022
Transfers
in/oul
Income Ex￿nditUrn
General funds
Reserves
25,647
28.750
(41.289)
{6.984J
6, 124
Raslrlet•d fund8
Maths Anxiety
Leamus Conferences
YoLJGov Survey
28,914
55,000
(19.858J
64,056
20,000
(26.984)
6,984
48,964
55.000
(46.842)
6.984
64. 106
Totsl of funds
74,611
83.750
(88. 131)
70,230
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR
Unrostrlcted R•strS¢t•d
fund8
fund$
2023
2023
Total
fund$
2023
Fixed asset inv8slments
Current ass8ls
Creditors due within one year
1,201
8,110
15.738}
1,201
77,810
15.7381
69,700
19.005
54,268
73.273
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR
Unrestricted
funds
2022
Restricted
funds
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors due within one year
9,089
(2,966)
64.706
73,195
(2,966)
6, 124
64,106
70,230
Page 17

LEARNING SKILLS RESEARCH FOUNDATION LIMITED
IA company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
13. RELATED PARTY TRANSACTIONS
Th8 directors consider Leaming Skills Foundation Limited (Company Number (K)6322787} lo be a relal8d
paty by virtua of company direclofships. During th8 year, the company paid management fees of £nil
12022- £9,51M)I to Learning Skills FoundatDn Limiled.
Al 31st December 2023, Leaming Skills Research Foundation ￿mIted was owed £48,646 {2022: £52,543)
from Learning Skills Foundalion Limited.
The following payments were made during the year lo trustees and those connecled lo the Iruslees on a
normal commercial basis_ E Trevelyan Johnson Ison of CA Shottl £11,6(K) for lecture filming costs. P
Trev8lyan - Johnson (spouse of CA Shott) £15,600 for IT support costs.
Page 18