Company registration number: 05348191 Charity registration number: 1124590
INDEPENDENT ACADEMIC RESEARCH STUDIES INTERNATIONAL INSTITUTE
OPERATING AS SCULPT UK
TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Independent Academic Research Studies International Institute Contents Page Reference and Administrative Details Trustees, Report Independent Examiner's Report Statement of Financial Activities (including Income and Expenditure Account) Comparative Statement of Financial Activities (including Income and Expenditure Account) io Balance Sheet li Notes to the Financial Statements 12-18 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Reference and Administrative Details For The Year Ended 31 March 2025 Trustees Mr Angus Berry Trustee (appointed 18/1212024) Mr Edward Sidebotham Trustee {appointed 1811212024) Ms Emilie Kushner - Trustee (appointed 1811212024) Ms Emily Poyser - Trustee Ms Rabab Halabi Trustee Mr Richard Elliott - Trustee Company Secretary Dr Claire Bonham Charity Number 1124590 Company Number 05348191 Registered Office Sculpt South Bank Technopark 90 London Road London SEI 6LN Independent Examiner Riz Wasti FCMA - 2E Accountants Ltd FCMA Page I Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Company No. 05348191 Trustees. Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objectives and Activities Aims and Objectives Summary of the Objects of the Charity As set out in its governing document, Sculpt's objects state that the charity exists "to promote and contribute to the development and civic participation of young people. children and adult members of the community as individuals and members of society by= (al Providing an infrastructure, training. guidance and support to enable them to undertake research, studies or other activities to investigate the issues which affect them; and (b) Encouraging, supporting and facilitating them to acquire a voice in democratic life, and use the useful results of that research and learning to increase awareness and understanding of the issues which affect them including amongst others decision makers, governments, policy makers. service providers and the public." Our Purpose To support young people to shape their futures. What We Do We work dirertly with young people, employers and professionals who support young people. All our work is guided by young people thernselves and based on carefully researched evidence. We= Facilitate forums for young people to make their needs and their voices heard Conduct research to uncover young people's real needs and what works to empower and support them Deliver training to build young people's confidence. skills. ambition. resilience and sense of responsibility, so they can shape their futures and change their communities for the better, as leaders, social entrepreneurs and active participants in civic life Deliver training for professionals who work with young people, drawing on our research and expertise Engage with employers to facilitate work experience and employment opportunities for young people to develop skills and access diverse jobs Facilitate international exchange opportunities to encourage and enable young people to experience and appreciate other cultures, perspectives and ways of life. Our Impact We believe it is important that young people have access to opportunities to help them shape their own lives. We aim to reduce the inequality of access to opportunities and 5UPPOrt young people to develop the skills and resources and gain the experience they need to feel positive about their future, and to play a meaningful role in shaping their communities. Our impact will be: Improved knowledge: Young people gain knowledge and skills in several 'life-skills' areas such as busines5. entrepreneurship, financial management, healthy relationships, leadership, public speaking. negotiation skills. Improved confidence: Young people gain confidence that they know how to ensure their voices are heard. and a sense of purpose. Improved attitudes: Young people understand how discrimination and stereotypes can be damaging to their relationships with others and their future choices. They will have an outward focused attitude and will value international partnership and collaboration. Improved agency: Young people increase their participation with key stakeholders in their local community and take positive action to further their career options. They will build positive and collaborative relationships amongst themselves and with peers, support networks and parents. Page 2 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Trustees. Report (continued) For The Year Ended 31 March 2025 Public Benefit Achievement and performance for the public benefit Summary of the main activities undertaken for the public benefit in relation to the charity's objects In planning our activities for the year, we kept in mind the Charity Commission's guidance on public benefit at our Trustee meetings. Sculpt remains focused on its charitable objerts and mission. Sculpt pays particular attention to those who tend to be marginalised or excluded because of their age. economic status. race, gender, sexual orientation, disability, ethnicity and belief. We remain youth-led and we take pride in running programmes that directly benefit young people and the wider community. Sculpt support young people to shape their own future. Our vision is that we live in a society where young people can be fulfilled through their education, work and participatiotb in wider society. Sculpt is a UK-based charity with over 20 years, experience of working with young people aged 14-30. We empower them to shape their futures in the transition from education to work and to break down barriers to opportunity, equipping them with life-skills, knowledge and prartical work experience. Our work is guided by young people themselves and based on carefully researched evidence. Sculpt has a Theory of Change which underpins our work, and links - our mission. why we work with young people. what we do and the impact it has on young people'5 lives and wider society. Sculpt addresses four interconnected areas that contribute towards our vision- Employability Well-Being Voice Opportunity We create change across three level5: l. Young People: Through our programmes, participants- Build confidence, resilience, and self-awareness to pursue life and career goals. Develop independence, amplify their voices, and exercise real agency in shaping their futures. strengthen personal and professional skills to increase readiness for work and further education. Raise aspirations, set clear ambitions, and stay motivated to achieve them. 2. Support Networks: We work with schools, businesses. and community partners to foster inclusive environments where young people can thrive. Specifically we.. Equip schools to deliver tailored, effective employment support. Help businesses understand and engage meaningfully with the future workforce. Promote social rnobility through more equitable opportunities. 3. Society: Our wider impact includes.. Enhancing social cohesion by increasing youth participation in civic and community life. Strengthening relationships among young people, their families, and communities. Contributing to a more inclusive society that values and invests in youth potential We are deepening our understanding of long-term outcomes through our alumni network. For example, 25Wo of recent graduates from our young trustee training programme have since secured trustee roles, directly applying the skills and confidence developed through our support to benefit both their own growth and the effectiveness of the charities they now serve. The trustees confirm that they have complied with the requirements of Section 17 of the Charities Att 2011 to have due regard to the Charity Commission's guidance on public benefit. Additional Note Additional information of objectives and activities Sculpt continued to consolidate its position as a respected and trusted partner across London and internationally throughout this financial year, and delivered services and programmes that had a significant positive impact on its service users and the society. We delivered six projects in the areas of employability, youth leadership and youth voice during the course of this year. We also offered strategic support and guidance to the West London and Central London Careers Hub as part of their Cornerstone Employer Groups. .CONTINUED Page 3 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Trustees. Report (continued) For The Year Ended 31 March 2025 Additional Note - continued We work directly with young people and currently run a series of programmes to support them, such as: Igniting Futures, Learn2Work, Trust in You, Voice Up, Building Connertions and Bankside Futures. We also run short events for partner organisations. These programmes and events are flexible and each project is adapted to meet the needs of young people and organisations related to that specific projert. Our programmes are complementary to the work of employers. schools, further/higher educations, careers hubs and local government. We address specific gaps in the interfaces betv4een these partners, focusing on building the skills of young people to enable them to succeed in the transition between school. higher/further education and work. In particular, we are skilled in tailoring our work to meet the needs of SEND or NE young people. And we encourage diversity through a range of measures such as accessible venues. advertising across a range of fortnats and using our extensive contacts. What we do and how we do it is also informed by the Sculpt Youth Advisory Board, consisting of young people who meet monthly to advise the Sculpt Board on matters such as the needs of young people, product design and programme impact. In addition, we have a Sculpt Alumni community who contribute to the development of our work. In the year 2024-25, we worked with: Over 450 young people 30+ employers and 120 business volunteers 29 schools 3 Careers Hubs 9 London Boroughs.. Camden, Croydon. Ealing. Haringey. Hillingdon. Lambeth, Southwark, Tower Harnlets, Wandsworth This year our programmes have consistently delivered measurable, positive results. For example.. 870/0 of Igniting Futures participants reported increased confidence in identifying their skills and interests. 81 % of Learn2Work participants felt more capable of managing personal finances. 85 % of all employment programme participants felt more employable after completing their programme. 80 % of Bankside Futures participants reported greater confidence in driving social change. IOO¥o of Trust in You participants felt better prepared to pursue trustee roles or take on broader leadership responsibilities in the charity sector. Working in partnership with our international network, we provided 7 internships for young people from the USA. We estimate that through these opportunities and our programmes. directly and indirertly, we benefited hundreds of marginalised members of the international community, youtbg people. individuals wanting to be heard, decision makers and public services, opinion formers and like-minded organisations. Awards and Recognition Sculpt rnaintained the National Youth Agency AdVand Level Quality Mark for our work with young people, as well as remaining a certified as a Living Wage employer. Funders We are grateful to our funders, sponsors and donors without whom we would be unable to continue delivering our charitable objects. This year we received grants and funding from Better Bankside, Central London Careers Hub, City Bridge Foundation, Elephant & Castle Community Fund. Hyde Housing, Garfield Weston. NCS Trust, National Lottery, Postcode Society Trust, Shaftesbury Young People's Trust. South London Careers Hub, Sovereign Housing, Team London Bridge, Tottenham Grammar School Foundation, West London Careers Hub, Waterloo and Southbank Neighbours, UK Youth and Cocacola Europacific Partners. Financial Review Financial Position Overall, Sculpt had incoming resources for the year of £185.755. Expenditure for the year stood at £220,658. Restricted incoming resources for the year were £147,567. This represents a slight decrease from last year's restricted income, which stood at £160,659. The unrestricted incoming resources for this year were £38,188, which is an increase on last year's unrestricted incoming resources of £5,909. Expenditure on charitable activities decreased from £224,430 to £220,658. Page 4 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Trustees. Report (continued) For The Year Ended 31 March 2025 Reserves Policy The Board has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestrirted funds not committed or invested in tangible fixed assets held by the charity should be three - six months of resources expended. At this level. which is periodically reviewed, the Trustees feel that they would be able to continue the current activities of the charity in the event of a significant drop in funding. Whilst we continue to maintain a diversified funding strategy to ensure our reserves are adequately maintsined, we have also set aside designated closing costs should we experience a significant and unexpected drop in funding. Treasury Policy The charity has the power to invest its monies which are immediately required in such investments, securities or property as may be thought fit. Aside frorn retaining a prudent amount in reserves each year, most of the charity's funds are to be spent in the short term. Therefore, there are only a few funds for medium term investment. Having considered the options vailable, the Board has taken a balanced approach to investment and has spread its portfolio across a small number of easy-access bank deposit accounts. As of 31 March 2025 the charity had access to instant cash in its accounts of £91,421. structure. Governance and Management Governing Document The IARS International Institute is a registered non-profit company limited by guarantee and governed by a memorandum of association and articles of association. IARS is also a registered charity with the Charities Commission of England and Wales. The company has a non-executive committee. known as the Board of Trustees, of at least three individuals all of whom are members. The Board of Trustees meets quarterly to make decisions and receive the report of the Chief Executive who is line managed by the collective Body of the Board. The Chief Executive is responsible for the operational side of the company, and line manages IARS, staff team who line manage interns and volunteers. History and Governing Document In 2001, IARS was informally established by Dr. Theo Gavrielides as a community interest group. On 31 January 2005, IARS was incorporated as a non-proffit company limited by guarantee. It was established under a Memorandum of Association, which defined the objects and powers of the company. and is governed under its Articles of Association. IARS was set up as a user-led and user-focused membership organisation and it remains as such. On 19 June 2008, IARS was registered with the Charity Commission of England and Wales. In 2008, 2011, 2012 and 2013 the Board of Trustees passed Special Resolutions amending the Memorandum and Articles of Association. On 8 January 2015, the company changed its legal name frorn Independent Academic Research Studies to Independent Acadetnic Research Studies International Institute (known as The IARS International Institute) reflecting its growing international reach. In 2021 IARS underv¥ent a rebranding exercise and adopted a new working name of Sculpt in March 2022, although the legal company name remains the IARS International Institute. In the event of the company being wound up. members are required to contribute an amount not exceeding £1. Trustee Selection Methods Recruitment and Appointment of Trustees The non-executive directors of the company are also charity trustees for the purposes of charity law and under the company's Articles. The Board of Trustees has agreed upon a policy and procedure for the recruitment and selection of new members. Vacancies for Board members are advertised, although candidates rnay a150 be identified through networking or contacts. Co-opted members can serve only for one year but they can stand for full election at the members, general meeting. Advertisements are based on the role description and any skills gaps identified through the most recent Board skills audit. Sculpt has an Equal Opportunity Policy which is applicable both internally to all staff, volunteers, the board and externally. Sculpt also has a Safeguarding Policyi a User Engagement Policyi a Data Protection and Privacy Policyi Health and Safety Policy, Policy on the Recruitment of Offenders and Ex-offenders and a Volunteering Policy. Sculpt has an Employee Handbook and a Finance Management Handbook and Policy. Trustees. Induction and Support Programmes for Trustees below the age of 25 Some Board members are already familiar with the practical work of the charity having been involved in Sculpt's work for some time and/or having had experience of working in or with charities. Further policies and procedures for the induction and training of new trustees have been developed, agreed and implemented. Copies of Sculpt's publications are distributed to all new Board members along with the Memorandum and Articles and the latest financial statements. Sculpt delivers Trust in you a training programme specifically for young people who wish to become charity Trustees and have recruited one of the 2024 graduates onto the Sculpt Board. The Youth Advisory Board also has a permanent, rotating seat on the board. Tailored training on governance, an induction and external trnining opportunities are all offered to new and existing trustees. Page 5 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Trustees. Report (continued) For The Year Ended 31 March 2025 Additional Note Risk Management The trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems and procedures are established in order to manage those risks. The Finance, Audit and Risk Committee and senior staff review the activities of Sculpt and identify the risks to which it is exposed. in particular those related to operation, governance and finance5. This process involves identifying risks and prioritising them in terrn5 of potential irnpact and likelihood of occurrence. Controls to prevent or minimise the risks are identified, together with deadlines for their implementation. These are reported to the wider Board quarterly at each Board meeting as a Standing item, where risks and actions are identified and minutes are recorded for follow up and sign off. The full risk register reviewed by the Board and senior staff twice a year. Other Information Other Operational Information External Plans for 2025 - 2026 Sculpt plays a vital role in providing programmes that change the lives of young people, focusing on the transition from school and education into work. Young people and our partners tell us that our work succeeds in bringing about change, but to fulfil our vision we are ambitious to grow our programmes and reach more young people in the years ahead. Provided that we continue to receive our current and new funders, support we will= Continue to expand our flagship Sparking Futures. Igniting Futures. Learn2Work and Bankside Futures ernployability programmes Develop and pilot our Futures Unlocked programme. bringing together our age-specific employability strands into one overarching programme Continue to evaluate our existing programme and develop high-quality impact measurement data Continue to deliver our youth leadership programmes through our Young Trustee Programme and offer this as a training programme to young employees Build and expand our Alumni network where young people who have enrolled in one of our programrne5 can access peer- support, job and volunteer opportunities and a bank of mentors Develop more and new partnerships with employers. academic institutions. voluntary and community sector organisations and governments locally, nationally and internationally Continue to provide internships and high-quality volunteering opportunities each year for young people Internal Plans for 2025-2026 Develop a service delivery model that allows us to diversify our income streams by increasing other types of service provision such as training and consultancy. Review our offer to potential corporate partners RecrLJit a Treasurer to the Board of Trustees Continue to strengthen the role of the Youth Advisory Board in various asperts of our governance Page 6 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Trustees. Report (continued) For The Year Ended 31 March 2025 Statement of Trustees. Responsibilities The trustees (who are also the dirertors of Independent Academic Research Studies International Institute for the purposes of company law} are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial staternent unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements the trustees are required to: selert suitable accounting policies and then apply them consistently. observe the methods and principles in the Charity SORP- make judgments and accounting estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The trustee5 are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial inforniation included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other Jurisdictions. Small Company Rules This report has been prepared in accordance with the special provisions relating to companies subjert to the small companies regime within Part 15 of the Companies Art 2006. The trustees, report Was approved by the board of trustees and signed on its behalf by: Mr Richard Elliott Trustee 4 November 2025 Page 7 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Independent Examiner's Report to the Trustees of Independent Academic Research studies International Institute For The Year Ended 31 March 2025 report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and Basis of Report As the charity trustees of the Company (and also its dirertors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 1"the 2006 Act"). Having satisfied myself that the accounts of the Cornpany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) {bl of the 2011 Act. Independent Examiner's Statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: l. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Riz Wasti FCMA - 2E Accountants Ltd FCMA 4 November 2025 Page 8 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2025 2024 Unrestricted Restricted funds funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Investments 36.039 2.111 38 147,567 183,606 2,111 38 162,903 3,626 39 Other 38,188 147,567 185,755 166,568 EXPENDITURE ON: Charitable activities- Charitsble artivities (73.091) (147,567) 1220,658) (224,430) NET EXPENDITURE (34.903) {34,903) 157,862) Transfers between funds 17 NET MOVEMENT IN FUNDS (34.903) {34,903) (57,862) RECONCILIATION OF FUNDS: Total funds brought forward 87.212 87,212 145,074 TOTAL FUNDS CARRIED FORWARD 17 52.309 52,309 87,212 The notes on pages 12 to 18 form part of these financial statements. Page 9 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2024 Unrestricted Restricted funds funds Total funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Investments other 2,244 3,626 39 160,659 162,903 3,626 39 5,909 160,659 166,568 EXPENDITURE ON: Charitable activities: Charitable attivities { 1,023) (223,407) (224,430) NET EXPENDITURE 4,886 {62,748) (57,862) Transfers between funds 17 {62,748) 62,748 NET MOVEMENT IN FUNDS {57,862) 157,862) RECONCILIATION OF FUNDS: Total funds brought forward 145,074 145,074 TOTAL FUNDS CARRIED FORWARD 17 87,212 87,212 The notes on pages 12 to 18 form part of these financial statements. Page 10 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Balance Sheet As At 31 March 2025 2025 2024 Unrestricted Restricted funds funds Total funds Total funds Notes FIXED ASSETS Tangible Assets 12 376 376 751 376 376 751 CURRENT ASSETS Debtors Cash at bank and in hand 13 12,335 53,673 5,000 37,748 17,335 91,421 49,279 73,190 66,008 42,748 108,756 122,469 Creditors: Amounts Falling Due Within One Year 14 (14,075) (42,748) {56,823) (36,008) NET CURRENT ASSETS {LIABILITIES) 51,933 51,933 86,461 TOTAL ASSETS LESS CURRENT LIABILITIES 52.309 52,309 87,212 NET ASSETS 52,309 52,309 87,212 FUNDS OF THE CHARITY Unrestricted Funds 52,309 87,212 TOTAL FUNDS 17 52,309 87,212 For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Att with respett to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies Subject to the small companies regime. On behalf of the board Mr Richard Elliott Trustee 4 November 2025 The notes on pages 12 to 18 form part of these financial statements. Page 11 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements For The Year Ended 31 March 2025 l. General Information Independent Academic Research Studies International Institute is a company limited by guarantee. incorporated in England & Wales, registered number 0534819 1 and registered charity number 1124590. The registered office is Sculpt South Bank Technopark, 90 London Road, London, SEI 6LN. 2. Accounting Policies 2.1. Basis of Preparation of Financial Statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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 I January 2019)" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The charitable company is a Public Benefit Entity as defined by FRS 102. 2.2. Incoming Resources Income represents amounts receivable during the year. Grants and donations for specific purposes are treated as income in the year for which received. Income received during the year for future periods IS treated a5 deferred income. Donated services are included at a price the charity estimates it would have to pay in the open market. 2.3. Resources Expended Expenditure is accounted for on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Charitable artivities, costs comprise direct expenditure including direct staff costs attributable to the relevant activity. Where costs cannot be directly attributed they have been allocated to attivities on a basis consistent with the use of resources. Fund-raising costs are those incurred in seeking voluntary contributions and in publicising the charity. Governance costs are those incurred in connection with administrdtion of the charity and compliance with constitutional and statutory requirements. 2.4. Tangible Fixed Assets and Depreciation Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets. less their estimated residual value, over their expected useful lives on the followitbg base5= Fixtures & Fittings Computer Equipment 25% strdight line 25% straight line 2.5. Cash and Cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 2.6. Foreign Currencies Monetary assets and liabilities in foreign currencies are translated into steding at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating surplus. Income from Donations and Legacies 2025 Unrestricted Restricted Total funds funds funds Donations and gifts Grants 640 640 35,399 147,567 182,966 36,039 147,567 183,606 Page 12 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2024 Unrestricted Restricted Total funds funds funds Donations and gifts Grants 2,244 160,659 162,903 2.244 160,659 162,903 4. Investment Income 2025 2024 Unrestrirted Unrestricted funds funds Interest on short-term deposits 2,111 3,626 5. Other Income 2025 2024 Unrestricted Unrestricted funds funds Miscellaneous Income 38 39 6. Net Income/(Expenditure) The net expenditure is stated after chargingl(crediting)- 2025 2024 Depreciation of tangible fixed assets - owned 375 376 7. Analysis of Expenditure 2025 Support costs (see note 8) Charitable activities 220,658 2024 Activities undertaken directly Support costs (see note 8) Total Charitable activities 27.237 197,193 224,430 Page 13 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 8. Support Costs 2025 Charitable activities Employee costs Premises expenses General adrninistration 182,981 19,779 17,281 409 Depreciation Interest payable 208 220,658 2024 Charitsble activities Employee costs Premises expenses General administration 161,100 12,675 20,385 1,961 292 Depreciation Interest payable Governance costs 780 197,193 9. Independent Examiner's Remuneration 2025 2024 Independent examination of the financial statements Other assurance services 700 780 Tax advisory services Other financial services 700 780 10. Staff Costs staff costs were as follows.. 2025 2024 Wages and salaries Social security costs other pension costs 164,519 11,218 5.996 142,873 8,963 5,305 181,733 157,141 No employees received employee benefits {excluding employer pension costs) for the reporting period of more than £60,000. 11. Average Number of Employees Average number of employees during the year was= 4 (2024.. 4) Page 14 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 12. Tangible Assets Fixtures & Fittings Cost As at l April 2024 15,811 As at 31 March 2025 15,811 Depreciation As at l April 2024 Provided during the period 15,060 375 As at 31 March 2025 15,435 Net Book Value As at 31 March 2025 376 As at l April 2024 751 13. Debtors 2025 2024 Due within one year Trade debtors 5,000 12,335 30,631 Prepayments and accrued income Other debtors 14,981 3,667 Rent deposit 17,335 49,279 14. Creditors: Amounts Falling Due Within One Year 2025 2024 Trade creditors 2.549 4,090 6,952 Other taxes and social security Net wages Pensions payable Accruals Deferred Income 887 962 6.474 42,748 2,966 25,203 56,823 36,008 15. Deferred Income Deferred income movements in the year were as follows= 2025 2024 Balance at the start of the period Income deferred in the current period Amounts released in incorne from previous periods 25,203 (25,207) 42,752 25,203 Balance at the end of the period 42,748 25,203 Page 15 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 16. Pension Commitments The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. During the year the charge to the statement of financial attivities in respect of defined contribution schemes was £5,996 (2024: £5,305). At the balance sheet date contributions of £NIL were due to the fund and are included in creditor5. 17. Movement in Funds As at l April 2024 Asat31 Expenditure March 2025 Income Unrestricted funds General.. General unrestricted fund 87.212 (5,612) (29,291) 52,309 Designated.. Garfield Weston 20,000 23,800 (20,000) (23,800) Postcode Lottery Trust 43,800 (43,800) Total unrestricted funds 87.212 38.188 (73,091) 52,309 Restricted funds Awards for all 2,462 17,622 24,700 6,657 6,650 8.149 8,550 30.192 8,292 4.640 3,333 2.920 23,400 (2,462) (17,622) (24,700) 16,657) (6,650) 18,149} (8,550) (30, 192) (8,292) 14,640} (3,333) 12,920) (23,400) Better Bankside City Bridge Foundation E&C Community Fund Education development Trust Hyde Charitable Trust London Borough of Richmond NCS Trust Reed in Partnership Southbank and Waterloo Neighbours Sovereign Network Group Team London Bridge UK Youth Total restricted funds 147,567 1147,567) Total funds 87,212 185,755 1220,658) 52,309 As at l April 2023 Asat31 March 2024 Income Expenditure Transfers Unrestricted funds General.. General unrestricted fund Restricted funds 145,074 5,909 (1,023) (62,748) 87,212 Awards for all 9,450 (11,220) 1,770 .CONTINUED Page 16 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 Better Bankside 18.640 24.950 950 {24,709) {29,622) (1,128) {29,690) {48,846) {24,809) (24,438) (221) (1,969) {21,417) (5,936) 235 6,069 4,672 178 City Bridge Foundation Education development Trust ESC - European Solidarity Corps NCS Trust 25.007 39,238 800 4,683 9,608 24,009 5,538 221 other donations and grants Postcode Lottery Queer migrant Reed in Partnership SYP Trust 18,900 1.658 16.950 5,000 (9) (875) 311 4,467 936 {226) 794 Tottenham Grammar school Yes Project You Ween 81 { 108) 390 CASYE 108 Shanarani BC {390) Total restricted funds 160.659 (223.407) 62,748 Total funds 145.074 166,568 (224,430) 87,212 Purposes of Restricted Funds Summary of funded projects carried out l April 2024 - 31 March 2025 Voiceup Voice Up, a free programme funded by SNG as part of the #iwill fund. is a youth voice and employability programme that will provide skill developing opportunities for young people to become wellbeing champions in their local communities. Through a four-week programme, students will engage in skill building Y4orkshops where they will not only learn how to look after their own mental health and wellbeing but will also discover innovative ways of using their voice to tell their stories, advocate for community level change and become active leaders within peer-peer support groups. Igniting Futures: In Your Element It Is an opportunity for SEND young people aged 14 - 16 who would like to develop work related skills including Microsoft office, customer service, basic budgeting and CV development. Young people are also given the opportunity of a work placement in week 5 with a disability confident employer. During the programme young people receive.. l.. I bespoke workplan, face-to-face development days both in the Sculpt UK office and at the young person's place of education, CV development opportunities, a work placement and an interview skills session. Igniting Futures: Power Up Igniting Futures is a development opportunity for young people aged 14-16 on Free School Meals or at risk of becoming NEET to develop work related skills (business planning, social media, sustainability & digital skills including coding), get advice from industry experts and develop a bespoke I: I workplan with a member of the Sculpt senior management team. Taking place one day a week over six-weeks, during the programme young people receive support developing a l= I workplan, face to face development days including 'career spotlights, with industry professionals from a variety of backgrounds, personalised life skills training on healthy relationships. staying safe online. finding your voice. Learn2Work Learn2Work is a bespoke employment support programme for young people aged 16-18 with Special Educational Needs and Disabilities (SEND}, designed to help navigate the journey to employability. This programme connects young people with ernployers, delivers skill building workshops and facilitates networking opportunities. Young people take part in bespoke career planning, professional skill development workshops, work experience placements with employers that meets their interests and career goals, personalised essential skills and living independently training, CV development workshops, mock interviews and networking opportunities. .CONTINUED Page 17 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5
Independent Academic Research Studies International Institute Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 17. Movement in Funds - continued Bankside Futures Funded by the Better Bankside Business Improvement District this is a summer programme for young people aged 16 - 18 years old, designed to get young people ready for the world of work by meeting a range of Bankside employers and creating a social action project for the local community. Young people learn about the world of work through tailored workshops, work experience mornings, networking opportunities and mock interviews. Additionally, in small teams they use the skills they have developed to create a social action project about something they care about that is affecting Southwark and present this to friends, family. employers and local businesses at the end of the programme. Building Connections Building Connections is an employability programme for young people aged 16-25 funded by UK Youth and Coca-cola Europacific Partners {CCEP) and run in partnership with Sculpt. The programme helps young people to identify their interests and passions and give them the essential support they need to pursue their future goals. As part of this programme, we will be running a series of employer encounters across various industries where young people can learn about different careers and jobs, explore their interests. and network with employers. Trust in You Trust In You is funded by City Bridge Foundation and aims to develop young people's skills around leadership and governance, working in the charity sertor and social action. The goal of this project is to get more young people on trustee boards in the UK, and to train and guide trustees on having young people on their boards. We are training young people and preparing them for trustee positions. Higher Futures Funded by the National Lottery Awards for All, Higher Futures is designed to support young people with SEND who are interested in going on to higher education, providing wrap around support on applications, personal independence, understanding how to access additional support and thinking about the world of work post-education. Summary of un-funded projects carried out l April 2024 - 31 March 2025 Youth Advisory Board Our Youth Advisory Board comprises of seven young people aged 15-28 from a range of backgrounds. The Youth Advisory Board meets with the senior management team once a month and has a seat on the Board of Trustees. 18. Transactions with Trustees During the year the expenses reimbursed to the trustees or paid dirertly to third parties were as follows: 2025 2024 19. Related Party Disclosures There have been no related party transactions in the period that require disclosure. 20. Company limited by guarantee The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company. in the event of a winding up, such an amount as may be required not exceeding £1. Page 18 Doc ID.. 518616341 d594a583ba118804aff1362442b36b5