Registered number: 06413331 Charity number: 1124064 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) CONTENTS Page Reference and admlnl8trntlve detalls of th• Company. Its Tn￿te•S and advlsers Trustees. report Independent examinerfs report Statement of financFal activitles Balan¢¢ sh••t 10-11 Note8 to the financlal 8tatoments 12-20 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees C A Shott, Director M Tovey, Director C Gieen R Price OBE QC PDBrett Company reglstered number 06413331 Charlty registered number 1124064 Reglstered office Calder & Co 30 Orange Street London WC2H 7HF Company secretary Mary Tovey Accountsnts Calders (1883) LLP Chartered Accountants & Slatutory Auditors 30 Orange Street London WC2H 7HF Page 1 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report together with the financial statements of the Company for the 1 January 2024 to 31 December 2024. The Annual report serves the purposes of both a Trustees. report and a directors. report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable companls governing document and the provisions of the Statement of Recommended Praclice (SORPI applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companles under the Companies Aci 20(￿ (Strategic Report and Dlrectors, Report) Regulations 2013 has been omitt8d. Objectives and activities a. Policies and objectives The principal object of the company ts to seek and support investment in academic research within the fields of neuroscience and psychology, in order to afford teachers. parents and others, a better understanding of the learning process and in order to develop new leaming skills for application to the needs of children and adults. Induding those with special needs. In Setting objectives and planning for activities. lh8 Trustees have given due consideration to general guidance published by the Charity Cornrnission relating to public benefit, induding Ihe guidance 'Public benefit: running a charity (PB2)'. b. Revlew of actlvltles for achlevlng objectlves Learning Skills Research Foundation continued its fund-raisirjg for its wholly owned subsidiary edl￿t￿JnaI think tank. Leamus (%vww.leamus.co.uk) Leamus is an education think tank Ihat seeks to make connections between the world-leading UK research in neuroscience and besl dassroom Practice. Our aim is to ensure that the growing understanding of how the brain works and how it leams translates into improved interventions and educational outcomes. Leamus is uniquely posttioned to do this sitting at Ihe interface of researchers and educator5. and a track record of running events. publishing materials. helping to run Random Control Trials of new neuroscience-inspired learning aclivities. and consults'ng wrth teathers. There is rK> equivalent organisation is working with teacher5 to build knowledge about the brain, which is so important for understanding the processes of leaming. During this accounting period the followiThJ donations were re￿IVed. £10.000 from Dovedale Foundation Inon- specffic) and £S.000 from Robin Lough (non-specific). In 2024 Leamus celebrated its lenth anniversary with a reception at the House of Lords. Our guests were representatives of the Learnus cornmunity, leading academics in the field of cognits've neuroscience and psychol&Jy, Headteachers, teachers, educational psychologists. The event was hosted by The Rt Hon. the Lord Foster of Bath. We were honoured to have Professor Sir Simon Baron-cohen British (dinical psychologisl and professor of developmental psychopathology at Ihe University of Cambridge) give the key address at this event. Sir Simon has been Palron of Learning Skills Research Foundatson since tts inception in 2007. A Report on all our acts'vitie5 over the ten years was prTrJuced in the form of a bnKhure which can be downk)aded from this link: httPS:IlI￿w.1eamUs.cO.uklLearnuS Brochure.pdf To mark our tenth anntversary announced a new initialive, The Leamus Schools Award. This award will ognise innovative practice in schools that are exploring the practical application of the Science of Leaming. Page 2 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectives and activities (continued) schools that personify what Leamus is all about - applying research in psychology and neuroscience to improve the educational life chances of young people. In 2024 Leamus iolned UNESCO'S Global Alliance on the Sciertce of Leamlng for Education, an intemational group of experts that speaks with a common and independent voice representing the scientific arm of UNESCO at high-level global politicat events to advocat8 for eViden￿-baSed policy formulation. planning and Implementation. Gov•rnment Curriculum Review (England): response to call for views from Leamus: Part of the activities of Leamus is to respond to a call such as this. The following link is to our fomial response and is published on the Leamus website. httpsJlwww.leamus.co.uklGCR.pdf Through our many lectures, webinats and conferences over the last ten Jears, Leamus has been connecting educators and world-leading scientists who specialise in the study of the brain, Ihe rnirxl and behaviour to develop and test dassroom-based strategies underpinned by cognitive neuroscience and bring quality research In these multi-disciplinary fields to improve and enrich teaching and leaming for all. And over that time, w8 have seen more and more teachers showing real interest in applwng this research in their classrooms. The Leamus Annual Lecture - it was decided that due to the very full schedules that leachers have in the autumn terrn, that we would hold our annual leclures from now on in January each J*ar. Roving Reporter This project has become increasingly popular. The Leamus team visits acadernics in their university labs and Interview them about their work arKI its relevance for teachers. We made a total of four videos durlng thls accounting period. They were: Professor Sir Simon Baron16 and offers an altemative education pathway lo those whefe traditional methods In mainstream sI*￿1S have failed. The results are very impressive. Kingswood Prep School Leamus visited Kingswood Prep SdN)ol to leam about their successful Scienc£ of Leaming PTogramme Introduced to the school by Dr Rebecca Torrance-Jenkins, Head of Science. The Kingswocmj Science of Leaming programme incorporates three strands - educational neuroscience. educational research and cognitive psychology. Content is informed by research findings and further supported by impact now being reported by teachers and school leaders. Dr Torranc&Jenklns is also a member of the Leamus Council. Page 3 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objectives and activities (continued) Washwood Heath Multl Academy Trust Leamus visited Wa5hwcKJd Heath Multi Academy Trust at the invitation of Ashley Winters. its Director of Primary Education, to hear his plans for embracing educational neuroscience within their schools In the future. The Learnus Webinars During this period. we also presented the folk>wtng webinars: "From algorithm worshlp to the art of human learnlng: Inslghts from So year old Journey of Al In Educalion" Presented by Kaska Poray5ka-Pomsta. Professor of Artificial Intelligence in EducatK)n, UCL KnovAedge Lab. UCL Institute of Education. "Maklng the executive Yunction. for early years mathematics" Presented by Gaia S￿rIf. Professor of Developmental Cconitive Neuroscience. University of Oxford. 'Ralslng oducatlonal outcomes for students wlth SEND: Challenges and solutlons" Professor Jo Van Herwegen Professor of Developmental Psychology and Education at Institute of Education, UCL'S faculty for Education and Society, and director of the Child Development and Leaming Difficulties lab and )-director for the Centre of Educational Neuroscience. c. Maln actlvftles undertaken to further the Compan￿5 purposes for the publlc benefft In setting objectives and planning for activitiés , the Trustees have given due (x>nsideration to general guidance publlshed by the Charity Comrnission relating to public benefit and are confident that there is an identifiable publlc benefiL AchSevements and pertommnce a. Key performance Sndicators The charity generates income from donations. In the ypar to 31st December 2024 Income of £45.100 was received. b. Investment pollcy and perforniance The charity has no investments apart frorn bank de[K￿lts in the fomi of donations from individuals and trusts. Flnanclal revlew - Golng concern After making appropriate enquiries. the Trustees have a reasonable expectation that the Company has adequate resources lo continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the accounting policies. Page 4 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure. governance and management a. Consthutlon On 15th June 2022 a 5￿cial re501ution was passed that the name of the company be changed from Leamlng Skills Research Limited to Leaming Skills Research Foundation Llmited. This was authorised by Companies Hous8 on 27th July 2022. The company is registered as a tharitable company limited by guarantee and was set up by a Memorandum of Association on 30th October 2007. b. Methods of appolntment or electlon of Trustees The management of the Company Is the responsibility of the Trustees wllo are elected and cfropted under the terms of the Memorandum of Association. Appolntment of a Director of the charity can b8 rnade through an ordinary resolution. c. Organlsatlonal structure and decision•making pollcies The structure of the Charity is as follows: Chris Green (Chaiman) Caroline Shott {CEO) Lady Mary Tovey (MD and Secretary) The two Director5 {Lady Mary Tovey and Caroline Shott) have responsibility of care for the funds raised. Chris Green and Caroline Shott are responsible for monitoring twice yearly reporting from the beneficiaries. The three key Trustees (méntioned above) rneet regularly to deal with affairs of the charity. Full Truste8s m8étings are held as and when necessary but not less frequently that twice a year. Plans for future periods a. Future Developments The nature of futu￿ projects win largely be detemiined by Ihe findings and recommendalions of the recently established Think-tank. Page 5 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of Trustees. responsibllities The Trustees (who are also the directors of the Company for the purposes of company law) are ￿sponSible for preparlng the Trustee5' report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (Unitèd Kingdom Generally Acceptod Accounting Practice). Company law requires the Trustees to prepare financial stalements for each financial . Under company law. th8 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 Company and of its incoming resources and application of resources, including its Income and expenditure, for that period. In preparing these financial slatements, the Trustees are required to.. select suilable accounting policies and Ihen appty Ihem consistenuy. observe thè methods and princtples of th8 Charitses SORP (FRS 102); make judgments and accounting estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards (FRS 1021 have been followed, subjecl to any materfal departures disclosed and explained in the financial statements: prepare the financial statements on the going concem basis unless It Is inappropriate to presume that the Company will conts'nue In I￿sInesS. The Trustees are responstble for keeping adequate accounting records that are sufficient lo shLWI and explain the Companrfs transactions and disdose with reasonable accuracy at any time the financlal position of the Company and enable them to ensure thal the financial statements comply wilh the Companies Act 2006. They are aSso responsible for safeguarding the assets ol the Company and hence for taking reasonable steps for the Pfevention an¢J detection of fraud and other irregularities. Approved by order of the members of the Ix)ard of Trustees on 24 October 2025 and signed on their behalf by.. Cakoliize CAShott Page 6 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinerfs report lo the Trustees of Learning Skills Research Foundatlon Limtted I'the Company.) I report to the charity Trustees on rny examination of the accounts of the Company for the year endèd 31 December 2024 which comprise the Statement of Flnanclal Activities, the Balance Sheet and related notes. This report is made solely to the charity's trustees, as a bcmjy. in accnrdance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assurne responsibility lo anY￿e other than the charity arKI the charity's trustees as a trthy, for my work, for this report. or for the opinions I have formed. Responsibillties and basis of report As the Trustees of the Company (and its directors for the PUfP)S8s of company law) you are respjnsible for the Pfeparation of the aCC(￿nts in accordance with the requirements of the Companies Act 2006 ('th8 2006 Act,). Having satisfied m￿ell that the accounts of the Company a￿ not required to be audtted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Companrfs accounts carried out under section 145 of the Charities Act 2011 <'the 2011 Act.). In carrying out my exarnination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. An indepèndent exarnination doès not involve gathering all thè evidènce that woukl b8 required in an audit and consequently does not cover all the matters that an audttor considers in giving their opinion on the financial statemenls. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently l express no opinion as to whether the financial statements present a 'true and faiT' view and my report is limited to those specÈfic matters set out in the independent examiner's statement.. Page 7 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Independent examinerf$ statement I have completed my eXam1r￿ll0n. I confim that no matters have come to my attenkn In connection with the examination giving me cause to believe: accounting records were rK>t kept In respect of the Company as required by section 386 of the 2006 Acl: the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2(M)6 Act olher than any requirement thal the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination; or the accounls have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice ft>r accounting and reporting by charities [applicable to chartties preparing their accounts in accordance wth the Financial Reportsng Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no cOn￿mS and have come across no other matters In connection wlth the examination to which attention should be drawn In this report In order to enable a proper understanding of the a¢xounts to be reathed. Dated: 24 October 2025 A Koupland ACA Calders11883) LLP Chartered Accountants 30 Orange Street London WC2H 7HF Page 8 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total fvnds 2023 N•1• Income from: Donations and legacies Conference income 45,100 45,100 110.084 3.400 Total income 45.100 45,100 113.484 Expondlture on: Charitable aclivities 15,561 57,948 73,509 110,441 Total expendlturn 15,561 57.948 73.509 110,441 N•t mov•m•nt In fvnds (12,848) (28,409) 3.043 Reconcillatlon of funds: Total funds brought forward Net movement in funds 54,268 19,005 {12.848) 73,273 (28,409) 70.230 Total fund8 carrlod forward 38,707 6,157 44,864 73.273 The Staternenl of financial activitses includes all gains arKI losses recognised in the year. The notes on pages 12 to 20 frym part of these financial slatements. Page 9 LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company limited by guarantee) REGISTERED NUMBER: 06413331 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Flxed assels Investments 1.201 1.201 1,201 1,201 Current assets Debtors 10 43,241 7.108 48.645 29,165 Cash at bank and in hand 50,349 77,810 Current liabilities Creditors: amounts falling due within one year 11 (6.686) (5. 738) Net current assets 73,273 Total assets less current liabilitiès 73,273 Total net asset3 73,273 Chartty funds Restricled funds Unrestricted funds 12 12 38,707 6,157 54,268 19,005 Total fund8 73.273 The Company was entided to exemption from audit under section 477 of the Cornpanies Act 2006. The members have not fequired company to obtsin an audit for the yEar in question in accordan￿ with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to actounting remrds and preparation of finanaal statements. Page 10 LEARNING SKILLS RESEARCH FOUNDATION LIMITED IA company limited by guarantee) REGISTERED NUMBER: 06413331 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The financial statements have been prepared in accordance WFth the provisions applicable to entities subject to the small companies regime. Tho financial stat•monts vtsro approvod and authorisod for ISGUO by the TrustO0s ￿ 24 Octobor 2025 and signed on their behalf by. CakoLiii8 &zo6 CAShott The notes on pages 12 to 20 f(*m part of these finanaal statements. Page11 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies 1.1 Basis of preparation of financial statements The finanrial statpmpnls have bpe.n prp.parpd in arrnr(lanr£ with the Charilipq qnRP {FR8 10?) - Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance wrth the Financial Rewrting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) and the Cofflpanies Act 2006. Leaming Skills Research Foundation Limiled meets the definttion of a public benefit entity under FRS 102. Assets and liabilities are initially reccy3nised al historical cosl or transaction value unless otherwise ststed in the ￿leVant accounting policy. 1.2 Company status The company is a company limited by guarantee. The mernbers of the company are the Trustees named on page 1. In the event of the c£>mpany being wwrKI up, the liabilty in respect of the guarantee is limited to £1 per member of the company. 1.3 Income All income is recognised once the Company has entrtlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in ￿[al￿on to donations Teceived under Gift Aid or deeds of covenant is recc*Jnised al the time of Ihe donalion. 1.4 Expenditur• Expenditure is recognised On￿ there is a legal or ¢x)nstructive oblTrgation to transfer ecDnomic benefit to a third party, il is probable that a transfer of ecorK)mic beneffts will be required in settlemenl and the amount of Ihe obligats'on can be measured reliably. Expenditure is classrfied by aclivity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attribulable to a single activrty are allocated directly to that acts'vrty. Shared costs which contribute to more than one actsvty and support costs whith are not attn'butable to a single activity are apportioned between Ihose activities on a basis consistent with the use of resources. Central staff costs are allocated on Ihe basis of lime spent. and dep￿lab.On charges allocated on the portw of the assel's use. Expenditure on charitable activities is incurred on directly undertaking the activities which fijrther the Companls objectives. as W￿11 as any associated SUPPK)rt costs. Grants payable are charged in the ￿ar when the offer is made exc£pt in those cases where the offer is conditional. such grants being recognised as expenditure when the conditions attaching are fijffilled. Grants offered subject to conditions which have not been met at the year end are noled as a commitrnenL but not accrued as expenditure. All expenditure is indusive of irrecoverable VAT. Page 12 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policie$ (contlnued) 1.5 Investments Flxed a55et investrnents ar8 a form of financlal Instrument and are Initlally recognlsed at thelr transacb'on cost and subsequentty measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investrnent gains and losses, whether realised or unrealised, are COM￿.ne￿ and presented as 'GaIn￿(LoSses) on Investments, in the Statement of financial activities. 1.6 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayrnents are valued at the amounl prepaid net of any trade discounts due. 1.7 Cash at bank and in hand Cash at bank and in harKI include5 cash and 5hort-term highty liquid inve5trnents with a Short maturity of three months or less from the date of acquisrtion or opening of the deposii or slmilar account. 1.8 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event. it is probable that a transfer of economic ben8fEt will be requir8d in settlement. and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the artM)unt it has received as advanced payments for the g(MJds or services it must provide. Provisions are rneasLtred at the best estimate of thè amounts required to settle the obligation. Where the effect of the tirne value of Tnoney is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liabilrty. The unwinding of the discount is recognised in the Statement of financial acts"vities as a finance c05t. 1.9 Financial instruments The Company only has financial ass8ts and financial liabilities of a kind that qualify as basic financial Instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception ol bank loans whith are subsequently measured at at[￿lSed cost using the effective interest tnethod. 1.10 Fund accounting General fund5 are unrestricted funds whith are available for use at the discretion of the Trustees In furtherance of the general objectives of the Company and which have not been designated for other purposes. Restricted funds are funds vthich are to be used in accordance with specffic restrictions irnposed by donors or which have been raised by the Company for particular purposes. The costs of raising arKI adrninistering such funds are charged against the specific tund. The aim and use of each restricted fund is sel out in the rK)tes to the financial statements. Page 13 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacles Restricted Unrestricted funds funds 2024 2024 Total funds 2024 tk)nations Gift aid 40,100 40.100 5.000 45,100 45,100 Restricted Unrest17Cted funds fvnds 2023 2023 Total funds 2023 Donations Gift aid 10.084 20.000 90,084 20.O¢x) 30.084 110.084 Other Income Total funds 2024 Conferenc8 income Unrestricted funds 2023 Total funds 2023 Conference income 3.400 3.400 Page 14 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysls of expenditure on charitable activities Summary by fund type Restricted Unrestrfcted funds funds 2024 2024 Total 2024 Maths Anxiety (see note 5) Govemance costs (see note 6) Consultancy Events costs 15,561 15,561 25,069 3,060 29.819 25,069 3,060 29,819 15,561 57,948 73.509 Restricted un￿Stricted funds funds 2023 2023 Tolal 2023 Maths Anxiety (see note 5) Govemance costs Consullancy 89. 788 89. 788 20.352 301 20.352 301 Total 2023 89. 788 20.653 110,441 Maths Anxiety costs 2024 2023 Book publishing costs Professional fees (see note 6) IT Support costs Website and promotional costs Event costs Academic research 5, 686 330 18.473 672 64,627 15.021 15.561 89. 788 Page 15 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Governance costs 2024 2023 Accountancy fees Professtonal fees 3.720 2,372 2,361 174 Bank fees Website and pr4)motional costs IT costs Publishing costs Loan balance write bad( 2,266 7, 732 42 13.907 S,405 5,405 25,069 20,352 Independent examinerfs remuneration 2024 2023 Fees payable to the Compansls independent examiner for the independent examination of the Companrfs annual accounts 1,550 1,550 Tru8te•8' remuneration and expns•8 Durfng the ￿ar. no Trustees received any remuneration or other benefts (2023 - £NIL). During the ￿ar ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 16 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Fixed asset investments Unllsted Investments Cost or valuation At 1 January 2024 1,201 At 31 December 2024 1.201 Net book value At 31 December 2024 1,201 At 31 December 2023 1.201 10. Debtors 2024 2023 Due wllhln one year Other debtors 43.241 48,645 43,241 48. 645 11. Creditors: Amounts falling due within one year 2024 2023 Trade creditor5 Other creditors Accruals and deferred income 3.720 266 2.700 2, 772 266 2. 700 6.686 5, 738 Page 17 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds Statement of funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Income Expendlture Unr•strlcted funds Reserves 19,005 45,100 (57,948) 6,157 Restricted funds Maths Anxiety 54,268 (15.561 38,707 Total of funds 73,273 45,100 173,509) 44.864 Page 18 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 12. Statement of funds (continued) Statement of funds - prfor year Balance at 31 December 2023 Balance at 1 January 2023 Transfers in/out Incoffle Expenditure Unr•strlcted funds Reserves 6,124 33.484 (20,653) 19.005 Restrlcted funds Maths Anxiety Leamus Conferenc8S 64,056 (89. 788) 54,268 (50) 64.106 (89. 788) (50) 54,268 Total of funds 70,230 113,484 (110,441) 73,273 13. Analysls of net assets between funds Analysls of n•t ass•ts b•twe•n funds - current ￿rfod Restrleted Unresirfcted funds funds 2024 2024 Total funds 2024 Fixèd asset inv&stm8nts Current assets Credltors due wilhin one year 1.201 11,642 (6,686) 1.201 $0,349 16.6861 38,707 Totat 38.707 6,157 44.864 Page 19 LEARNING SKILLS RESEARCH FOUNDATION LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Analysls of net assets between funds (continued) Analysls of net assets between funds - prlor peflod Rèstiicted Unrestricted funds funds 2023 2023 Total funds 2023 Fixed asset Investments 1,201 23.542 (5. 738) 1,201 77.810 (5, 738) Current assets Credltors due withln one year 54,268 Total 54.268 19.005 73.273 14. Related party transa¢tlons The directors ￿nSider Learning Skills Foundation Limited {Company Number: 06322787> to be a ￿lated party by virtue of company directorships. As at 31 December 2024, Leaming Skills Research F￿ndation Limited was owed £43,241 (2023: £48.646) from Leaming Skills Foundation Limited. The following p8￿lents We￿ made during the sear10 Irustees and those connecied to Ihe trustees on nomial commercial basis. E Trevelyan - Johnson (son of C A Shott) £5.798 for lecture filming costs. P Trevelyan - Johnson (spouse of C A Shott) £13.907 for IT support costs. Page 20