REGisfERED COMPANY NUMBEIL. 06909767 (England and Wales)
REGI￿ERED CHARTfY NUMBER: 1133536
REPORT OF THE TRusfEES AND
FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
GREENPOWER EDUCATION TRUST
Lewis Brownlee (Chichester) Limited
ststthory Auditors
Appledram Bams
Birdham Road
Chichester
West Su55ex
P020 7EQ

GREENPOWER EDUCATION TRUST
COP¥TENTS OF THE FINANaAL ￿ATEME1{[S
FOR THE YEAR ENDED 31 DECEMBER 2024
Page
Chairnian's Report
I to 3
Report of the Trustees
4 to 10
Report of the Independent Auditors
11 to 13
Statement of financial Activities
14
Balance Sheet
15
Cash Flow Statement
16
Notes to the Cash How Statement
17
Notes to the Finanaal Statements
18 to 28

GREENPOWER EDUCATION TRusr
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
When I sat down to write this yearfs Trust￿ Rep¢xt, l asked Bamabas to send me an overview of ever￿ing we had
achieved over the last 12 months. I wanted to make sure I hadnt overfooked anythirlg. What I received was nothing
short of astounding-an incredible amount of progress, followed by an immense sense of pride in tt)e team we've
cultivated together.
After Bamabas's appointment, one of our first priorities was to work with him on creating a robust fivtryear plan, one
that would help us get back on track with the growth we saw in 2019. We focused on five key areas:
- Strengthening and growing the Greenpower network, reputstion, and profile
- Developing and refining Greenpower producticm and p￿￿ucts
Developing and refining G￿enpoWer events
- Expanding the STEM community and educational work
Strengthening Greenpower's finanaal sustainabilty
Thanks to the dedication of the team, we've gxcessfully made strides in achieving the first part of these strategic goals.
Strengthening and Growing the Greenpower Network, Reputation, and Proflle
As is the case with any organisation, we￿e seen some staff move on, but this has also provided us wth the opportunity
to strengthen and expand our team. We've welcomed a new Events Manager, Business Administrator, Finan￿ Manager,
and I￿0 additional Event Coordinators. This expansion has added depth to our team that we haven't seen in years,
boosting our resilience to fa￿ challenges head-on and giving us the stsbility to review our operations.
We've conducted a comprehensive review of our processes, induding consultations through lean management, leading
to operational improvements across the board, induding in finanaal management and budgeting. One of this board's key
goals has always been for Greenpower to become a household name. We've begun to make real progress in that
direction, working in collaboration with organisations like Motorsport UK and Fully Charged, as well as engaging with the
Design and Technology Assoaation to increase our Out￿aCh to primary schools. This partnership will help us grow the
Goblin offering and engage more children in sfEM education.
Internationally, we're expanding too. A'm delighted to announ￿ new li￿nsee5 for Saudi Arabia and the UAE, and we
I(￿k foNard to building long-term partnerships wth them to foster the next generation of engineers on a global scale.
Developing and Refinlng Greenpower Production and Products
To ensure we continue evolving in line with industry advaft￿ments, we've reinforced our regulatory committee with new
members, bringing diverse expertise and fresh perspectives to improve decision-making, We've increased the frequency
of meetings to three times a year, enabling us to proactively add￿$5 emerging challenges.
One major focus has been on enhancing safety and perfomiantr within our prc%Jrammes. We're introdudng new
regulations in 2025 to ensure even higher safety standards for participants, teams, and event organisers. These updates
demonstrate our commitment to continuously improving the integrity of our competstions. Greenpower USA has also
undergone a comprehensive regulatory review, ensuring alignment with our overall framewo￿ while accommodating
region-specific adaptstions.
As the automotive industy transityons toward elettrific2tion and sustsinable mobility, we're adapting to ensure our
events, vehicles, and safety protocols remain relevant and wrrent. we'￿ also working with our supporters to align
practical and computsbonal skills, addressing a real need in the aLrtomotive industry. I'm exated to share more on this
initiative as it develops.
Developing and Refining Greenpower Events
Greenpower's charitsble purpose is delivered through its events, and 2024 was no exception. While we fa￿d our
first-ever Can￿lIatiOn at Scottow due to a storm, which blew our tents ha￿a¥ down the rd￿traCk, I'm incredibly proud
of how the team managed the situabon and how graaous oJr parb'opants were. This just proves the strength of the
communty that's been builL
Our events are the highlight of our year and we are committed to expanding our reach across the UK. In 2024, we
hosted 20 Formula 24 events, 19 Formula 24+ events, and 11 F(MTnula Goblins. Lwking ahead to 2025, we've already
added an extr Formula 24 & 24+ event and tt)ree a￿l￿10n31 F￿mUla Goblins. The demand is dear, and over the next
five years, we aim to meet it in a sustsinable and strategic way.
Page I

GREENPOWER EDUCATION TRusr
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Expanding the sfEM Community and Educational Worf(
We're focused on continuously enhanong training and development to ensure our partiapants re￿1ve the best possible
support. A key initiative is the development of new training for chief scrutineers and derks to maintain the smooth
operation of our events. These updated trBining sessions will ensure they have the latest knowledge and sknlls necessary
for effective event execlrtion.
Our bi-monthly Ambassador meetings remain a vitsl pla￿0￿ for co51aboration, providing key insights and
recommendations that help shape the future of our programmes. Addibonally, our monthly vists to Centres of
EX￿lIentr have been cnjcial in strengthening relationships with our partner insbtutions, allowing us to assess their
needs and provide tsilored support.
Strengthening Greenpower's Financial Sustainability
The past 12 month5 have brought further instsbiltty to UK chariti'es, with economic unortainty making charitable giving
more challenging. As an organisation focused on enriching young lives, this has been difficult to navigate. However, we
have worked hard to ensure our finanaal sustainabilty, rebuilding our funding base to help us cope with future
challenges.
We are pleased to report continued success In securing funding and sponsorship from key partners. Ford remains a
major supporter, providing substantial funding in 2024 and support continuing for 2025. Other confirmed contributors
indude Lockheed Martin, TAQA, Dudgeon Wind Fam, Renishaw, Mirus, Perkins, KMF, Perkins, James Dyson Foundation,
Blink Charging, Cubico Investments, Cummins, as well as others, all of whom are supporbng variou5 initiats'ves, events,
and educational projects. Additional proposals are in developmen¢ with further support expected in earty 2025.
We extend our sincere thanks to all Lwr partnets and SFK)nsors for their invaluable contributions, enabling us to expand
our reach and impact
Strengthening Leadership & Governance
In additson to our strategic goals, we have tsken the opportunity to review the composition of our board to ensure we
continue to uphold our charitsble mission effectrely. A strong and diverse leadership team is essents'al to driving our
Vision forward, and we are committed to bringing in expert15e that aligns with our long-term objectlves.
With that in mind, in 2024 we were delighted to welcome, Simon Smith, and Sara Lennon to the board, Their combined
experience and knowledge will be invaluable in shaping the future of our organisation, strengthening our governan￿,
and supporting the continued growth of our programmes. We look fornard to their contributions as we navigate the
exciting opportunities ahead.
Impart Analysis
In 2024, we undertook an in depth impact analysis. One of the key findings ts a 12010 increase in the number of teams
compared to 2023. While overall participation is still below pre-pandemic leve15, thi5 5how5 that Greenpower is 5ti11 an
essential part of STEM outreach. A large wrtion of the parbcipant reduction has owrred in Formula Goblin teams,
which traditionally focused on l¢xal ra￿. It's hoped that a renewed focus on Fomula Goblin events will help grow these
numbers in the coming years.
In contrnst, Fomula 24 and Formula 24+ participation has remained steady. Despite a 200/0 reduction in the number of
race5, the numkr of teams per ra￿ has held steady, showing the loyaity and dedication of our older partiapants, for
which we are truly g￿tertjI. Whilst Greenpower has always operated a IOO¥o inclusion policy, we like to understsnd our
demographic trends to identify area5 of weakness.
While the overall tkrcentsge of female participants has remained at 36 %, there has been a ￿5￿1ve shift in Formula 24
and Forniula 24+ teams, with female pa￿apation rising from 26¥0 in 2019 to 33¥9 in 2024. This is a brilliant change
and gives hope for an increase in women ch(x)sing to take the STEM career path. One encouraging trend is that fAO/o of
organisations have been involved in the programme fc￿ over five years, wtih 57Wo of these now running multiple cars.
Maintaining current teams was always a challenge for us an (Kgani5ation and it 15 heartwarming to see our efforts come
to fruition.
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GREENPOWER EDUCATION TRusr
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The impact on students has been probJnd, naturalW when it cornes to engagement with STEM Subjects but also with
personal development. Many students show a 5ignifiont shift in their attitudes toward learning after taking part in the
programme. Notably, their interest in STEM sub]"ects increases, and they show growth in sLKial skn'lls and workpla
readiness. The programme also has a notsble impact on sbjdent retention. In some Greenpower has helped to
improve attendan￿ and has been particularty effective in supporting students in alternative provision units. The ability
of the programme to integrate students with additional needs and pyovide a voice for quieter students is another key
strength. Building confidence takes time, and Greenpower has played a cruaal role in helping students stay engaged in
school and develop the sknlls needed for future Suc￿ss. The Hive Youth Zone, shared their feedbad( about the impart of
the programme within their provision, it has teen g￿at to hear, Yhere's not enough space to Captr￿re all the
achievements our team has made, but I can confidenljy say I'm proud to have been a part of their development as
individuals.
Thank You
As we refiect on 2024, we can look back wrth immense pride at all thavs been accomplished. This year, we've faced
challenges, but what has truly stOLKI out is the resilien￿, determination, and positive spirit of our part¢apants, team
leadets, volunteers, and supporters. We've come together as a commun'ty and athieved so much, and rt's a testament
to the power of teamwork and dedication.
I want to extend my heartfelt thanks to every one of you-our partiapants, team leaders, volunteers, supporters, and
sponsors. You've made a remarkabie differentt, and iv5 because of your time, energy, and passion that we've been able
to provide incredible opportunities for young mir)ds to thrive.
As we look ahead, our commitment to inspiring and educating the next generation remains strong, and we will contlnue
to work hard to ensu￿ that our initiatives a￿ sustainable and accessible to all. With your continued support, there's no
limit to what we can achieve, and together, we will keep making strides toward a brighter, more sustainable future.
Thank you for being a part of this joumey wtth usl
Dr Nash Vracas,
Chair of the Trustees
Page 3

GREENPOWER EDiICATION TRusr
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who are also directors of the charrty for the pur￿Se5 of the Companies Act 2006, present their report with
the financial statements of the charrty for the year ended 31 December 2024. The trustees have adopted the provisions
of Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to chartbes preparing their
accounts in accordance with the Finanoal ReF￿rtIng Stsndard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019).
OBJECTIVES AND AcrIvrrIES
Objectives and aims
Greenpower's core mission is to inspire young people to excel in saen￿, technology, engineering, and mathematics
(STEM) through a unique hands-on challenge: designing, building, and racing an electric car. To support this goal, the
charity develops car kits, supplies essential parts. and establishes technical regulations for the events it
organizes-allowing partiapants to engage in teamwork, compelition, and problem-solving.
The competition is divided into three categories:
Formula Goblin (ages 9-11)
Formula 24 (ages 11-16)
Formula 24+ (ages 16-25)
The chatity's activf(ies cover all aspetts of managing the challenge, induding:
Updating technical regulations to uphold safety standards and ensure fair compebtion
Promoting the challenge to a broad audience
Supplying car knts for new teams and spare parts for existing teams
Offering support to new, existing, and prospective teams through websites, manuals, centers of excellen￿, and
ambassadors
Organising and running rBce events
Securing and maintaining corporate sponsorship to ensure sustainabilty and cost-effectiveness for teams
Providing educational resources and supp)rt
This report oudines the charity's achievements arKI the impact of its work during the repo￿ng period. It highlights the
Suc￿$ of each initiative and the benefts delivered to the indviiduals and groups the charity aims to support.
In fulfilling its objectives, the trustees consider the guidan￿ on public benefit issued by the Charity Commission and
believe that the charity's activities contnbute significantiy to public education.
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GREENPOWER EDUCATION TRU
REPORT OF THE TRUStEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRATEGIC REPORT
Achievement and perforniance
Charitable activtties
In measuring whether Greenpower is meeting its charitsble objecbves, Greenpower Ic4)ks at oiJtputs and outcomes as
well as specific projett ￿lated milestones.
Key outputs are overall parbcipation, number ￿ events executed and diversty.
Greenpower intrcKJuced a new Strategic Plan which has helped the tharity focus on achieving key objectives to improve
and develop the organisation. In 2024 we saw an increase in partiapation of teams, the supply of knt cars remaining
steadyi and more events We￿ delivered compared to 2023.
The totsl number of cars racing in 2024 has increased from 553 in 2023 to 618 which is great news that the programme
is continuing to Grow.
2024
Number of unique teams raar
Goblin
270
F24
289
F24+
83
Total
618
The events were well attended in 2024, and there continues to be a need to increase the number of events. Increasing
the number of events remains a challenge as we balan￿ funding, recnjitinent and management of volunteets, as well
as finding suitable pla￿ to host events. As ever the team a￿ rising to the exciting prospect of bringing the fantastlc
Greenpower prc*Jramme to more communities and young people. The team rose to the challenge, and continues to
meet expectations and make improvements wherever possible.
The totsl number of teams competing across all otegories was 618 in 2024, whid) remains 16% below the 2019 levels,
when the totsl reached 739. However, the organisation made strong progress throughout 2024.
Greenpower distributed 172 F24 thrs and 100 Goblin ors whlch was a ￿duCtion from 2023 when 319 were sold.
Outcomes.. Greenpower c3rried out an annual survey at the end of 2024, and we were delighted to hear the progrdmme
is continuing the make a drfferen￿ to educators and young people.
Greenpower greauy depends on the support of teams and their leaders to collert impatt dats. To better understand how
the program InflUen￿S young people and their wider organisats'ons, we aim to continue to strengthen our engagement
with teams. In 2025, we plan to enhan￿ this interaction through developing the annual suNey, meet with teams, and
provide more opportun￿e5 to gain feedback. We have provided some of the feedback within the annual report that we
gained from teams.
teamfuntington Case Study
The Greenwwer Goblin project is such an imF4)rtant part of what the school has to offer the students. It Is run as a
school club on Saturday mornings and is free of charge to families, being self-fijnded through sponsorship and student
organised fundraising events. It really offers something a little different to other dubs. It is sfEM based but includes
so much more; fijndraising, workiro as part of a team, and of course the ex(?tement of ra￿s.
The dub was started in 2014 when we purchased a Goblin thr having picked up a Greenpower leafiet at a Goodwc
event. We felt it was something that our son (then in year five) would enjoy. In fact, all three of our children have
beneffted from partaknng in the Greenpower project and, over the years, more than eighty sbjdents have also been
engaged.
We have a broadly even split of gir5s and boys in the club, from both years five and six. Due to high demand, we run
an application protrss and numbers are nomially limr(ed to around eight sbjdents per year. We like to have some
students taking part ft)r Iwo years running to 1ntTcdu￿ continuity. This allows them to pass on their acquired
knowledge and skills to new members of the team, whith we believe to an important part of the pr￿eSs.
The scheme encourages the students to work as a team, sUPPOrting each other through good and bad situations. We
have seen it to be espeaally beneficial to those young peopk who may be lacknng in Confiden￿ and who haven't found
their place to shine wtthin the schcol communty. Their pumey within the dub can boost Self-est￿rn and provide them
with achievements to be proud of.
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GREENPOWER EDUCATION TRusr
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
It also opens their eyes to the possibilitses of sfEM subjects aTrJ following a pathway to a career in sfEM.
The club has grown in size and nattjre Since we first started. (￿er the yeats we have developed a process, which we
follow each year, adding in new ideas and experien￿ Ofdsionally. In 2024, we added another Goblin car to our
garage, which we believe enhances the students, experien￿. We have also recently become a Centre of Excellence for
Goblin teams in the local area.
Many of our team members have gone on to tske part in Greenpjwer F24 at secondary school, or choose STEM subjects
at GCSE or A-level and we often hear of their arnbibons to follow a career in engineering or technology.
One standout example of a young person who has benefited from her journey through the club is Eva, a member of the
team from 2014 to 2016. A chance encounter wth Eva in 2023 led us to reminisce about her time in our Goblin club. Eva
explained that she was due to start at universty that Autumn to study chemistry- When asked if she felt that taking part
in the Goblin programme had played any part in that deasion, her reply was emphatic: "If I hadn't done Goblin club, I
wouldnt have even conSide￿d science."
Over the next few years our main aim as a team is to continue to provide an exating and enriching experien￿ for the
students that pass through the club. Ajongside this, we aim to engage rn0￿ with the community, spread the word
about the Greenpower projett, and support local teams to stsrt or continue to run their dubs.
Financial review
Financial positlon
Totsl income for the year ended 31 December 2024 was £1,366,7813 decrease of £12,787 compared to 2023.
Overall expenditure in the Feriod was £1,386,273, an increase of £7,366 compared to 2023.
The net effect is that in 2024, the Greenpower EdLKation Trust had a deficit of £19,492 compared with a surplus in 2023
of £661.
Reserves policy
The charity continued to build on his finanoal position, and continues to work on restoring its reseNes position as
matter of urgency which will continue to be the fc(us of 2025, alongside delivering our charitable purpose. We continue
to focus on increasing fundraising efforts and secunng new supp)rters, and streamlining our sales, ordering and
payment processes. The organisation continues to focus on building a 3 month reserve.
Page 6

GREENPOWER EDUCATXON TRusr
REPORT OF THE TRUSfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
srRATEGIC REPORT
Prinapal risks and Un￿rtaIn￿e$
The CEO and Board has reviewed and identffied the prinapal risks and untrttsinties ¢Jitrcal to the success of
Greenpower Education Tru5Vs and continued operabon. These, together with the associated mitigating actions
are described below:
Safety
The safety and well-being of all Greenpower parliapants, teams, Staff, arKI volunteers ￿rna1n our top priority as
charity. Throughout 2024, we maintsined strict safety measures and ensured Complian￿ while continually leaming and
improving to keep our events both exoting and secure. We will continue to uphold our procedures and *ek ways to
enhance our safety praCti￿s. In 2025, we will pla￿ an even greater emphasis on scrubneering in the F241F24+
categories to ensure all cars meet safety Standards and young people are adequately prepared for the competing.
R￿ardIng Goblin events we will ensure that the cars are adequatety assembled and events remain and safe. We will
also continue to strengthenlng i)ur relationship with MotOTSPK)rt UK to improve aSFects of safety.
Demand and Supply
We have been really pleased wlth the number of teams either beginnin9 the programme,or re-launching the programme.
As a result knt cars and parts supply has remained steady. We have experienced challenges with rising costs with supply
of parts, however we are pleased that things have continued mosty unchanged. As interest increases in the Greenpower
programme, we will be exploring ways to scale up so that it can remain accessible for all young people.
Bullding back wlth Goblins and Increasing the capacity of the F24IF24+ category
In 2024 we saw an increase in teams and organisations joining the prc*Jramme in all categories. We have been delighted
wlth the tske up of the F24 programme, and the number of teams partiapating in this category has grown past
pre-covid levels. We have also been pleased that more organisations have been getting involved in the Goblins,
however, this has been to a lesser extent. In 2025 we will explore ways to increase engagement in the Goblin category
and re£ngage with previous organisations which will te a priority. With the F24 and F24+ category we aim to explore
ways to Increase capacity to meet the increase demand for race entries.
Income
During 2024, as in 2023, car sales were steady and we had a gocrfj balance of intemational and domestic orders
results'ng in 272 totsl kits sold.
We are extremely thankfijl to our supporters this year and the programme would not be able to function without the
generosity of organisations and individuals who are invests'ng in the future engineers and innovator5 of the future.
An enomious thanks to Ford Motor Company, TAQ& Mirus Air(Taft Seats'ng, Lockheed ma￿n, Cummins, Norfolk
Community Fund, Blink Charging, and Dudgeon Wind Fa￿, Cubico, Renishaw, Pethns, lame5 Dyson Foundation, BBL
batteries, and KMF Group for their finanaal support helping Greenpower to deliver the events all over the UK. We would
like to also extend a thank you to Hogan Lovells, Spacesuit, Lotus, the Royal Navy, and Motor5POrt UK, sfEM Learning,
for providing their servitrs and suppjrt which enable the charity to deliver the programme.
In 2025, Greenpower will continue develop relationships and grow the supporter family to ensure that the barrier to
entry remains as low as possible, and is able to develop the charty to tetter serve ifs beneficiaries.
Development of resources
Greenpower has reached thousands of young people over 25 years, and the outcomes are significant. Moving foNard,
we intend to develop further resour￿ to enhan￿ the prcyjramme and support educators and young people. Through
doing this we hope that the learning resour￿5 will help txovide a level playing field and help young people to
demonstrate their achievements better.
Raisbng awareness of the charity
Greenpower is a well-regarded charty and has been a p￿neer in the sfEM tharity sector for 25 years, and still it
rem3ins largely unknown by many. In the UK there are 25,WO plus schcM)Is, and Greenpower had 413 organisations
equating to 618 teams that rc engaged with in 2024. Greenwwer affords a fantastic opwrtunty for young people and so
our aim is to continue to improve the qualty of the prograTnme, and reach more young people. To do this we will
continue to improve our communication5 extemallyr continue to develop and build strategic relationships, and use every
opwrtunty to promote the programme. 8y continuously striving to do this we hope that more young people will be able
to experientr the benefits of Greenpower.
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GREENPOWER EDUCATION TRusr
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRATEGIC REPORT
Future plans
Our prioritie5 for 2025 remain similar to 2024..
To build capactty and develop the events
Focus on in￿a$[ng the number of teams engaged in Goblins
Develop and improve our communication and prorrotion of the pr¢)Jramrr
Continue to develop our fundraising progrdmme
Build on 2024 with fijrther improvement to our international work so that Greenpower is able to reach even more
young people
Create educational resources so that schools and youth dubs
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is govemed by ts Memorandum and Artides of Associatit)n dated May 2009, as amended 4 December 2009
as amended by special resolution(s) dated 3 Juty 2016.
Recruitment and appointment of new trusteas
Trustees are acknvely sought to add breadth of experbse to the organisation. Potential trustees submit their Cvs for
consideration, they a￿ then met with in an inteFview style fonnat, and are invited to attend a quarterly trustee meeting.
If they decide they would like to accept the role, election will te put to a vote of the existing trustees. If elected, all new
trustees are required to attend NCVO trustee training.
In accordan￿ with the governing document for the charity, at each annual generdl meeting, one third of the trustees
(or, if their number is not three or a multiple of three, the numter nearest to three), must retire from offitr. If there is
only one trustee, he or she must retire.
The trustees can choose to retire at the AGM. Othernise, there is a fixed term of three (3) years for all trustees. After
said fixed term, the trustee must retire andlor be re*letted by the board.
The Chalr may be selected from the Board of Trustees at any point during the peri&J in offi￿. A Vice-chair may be
elected at the AGM but no later than the AGM protreding the retirement of the Chair. The Chair position is subject to
annual re-elettion at the AGM by memters and willingness of the individual to continue.
Oryanisational strurture
The Board of Trustees has a responsibilty to ensure diligen￿ of the G￿enpower onjanisation in line with that set out by
Companies House and the Charities Commission.
The Trustees delegate the daY-tO￿laY management of GreentM)wer Education Trust to the Chief Executive Officer, who is
responsible for the development of the Trust in accordan￿ with the strategy, policy and decisions of the Board of
Trustees.
The CEO is supported by a senior ManageM￿t team within the fijnctions of operdt'ons, events, finan￿, and
development.
All Trustees give their time voluntarily and retrive no benefits from the charrty. If ￿qUI￿d, reasonable expenses a
payable in line with the Greerjpower Educ7tion Tnjst standard expenses policy.
Pay and remuneratlon
Salaries for stsff are set by the Chief Executive in line with the budget and agreed by the Board of Trustees. The Chief
Executive's salary is set by the Chairman and ￿l￿- Chaimian, and agreed by the Board of Trustees before being
implemented.
Related parttes
None of the Trustees receive remunerati(y) or other benefit from their work with the charty.
Any connectton LEtween a Ttrustee or Sen1￿ manager of the charty with any supplier to the charity must be di5d05ed to
the full board of tNstees in the same way as any other contractual relationship w￿h a related paty.
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GREENPOWER EDUCATION TRusr
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
STRu￿uRE, GOVERNANCE AND MANAGEMENT
Risk management
The Trustees have a duty of due diligen￿ to identify and review the risks to which the charity is exposed and to ensure
appropriate controls are in place to provide reasonable assuran￿ against fraud and error.
Risk management is considered in every aspect of our work. fvlanaging large events with significant numbers of visitors,
young partiopants and Voluntee￿ carries inherent risk and demands constant attention and review. The risk register and
the control systems to manage the risks are reviewed regularly at Board meetings, considering day to day and event
risks along with other major risks.
The Trustees are 5ati5fied tt)at these arrangements, combined with the annual review of financial controls and the
reserves policy, will ensure that the organisation can continue to fulfil its charitable objectives.
REFERENCE AND ADMINIsfRATIVE DEfAILS
Registered Company number
06909767 (England and Wales)
Registered Charity number
1133536
Registered office
The Greenpower Cent
Arundel Road
FOnI￿ell
West Sussex
BN18 OSD
Trustees
A K Ahluwalia (resigned 2315/2024)
C S Baylis (resigned 201212025)
L Horsfall (resigned 221212024)
S D Morgan
A D Browne
Y Chikowore {appointed 201212025)
V R Clarke
P J Coyle (appointed 201212025)
E A Craven (appointed 201212025)
J J Dyson
S N A Lennon (appointed 261912024)
H Shen7rd
S R Smith (appointed 221212024)
N S Vracas
J B Clark (resigned 711012024)
L T L Russell (resigned 231512024)
Auditors
Lewis Brownlee (Chichester) ￿Mited
Statutory Auditor5
Appledram Barns
Birdham Road
Chichester
West Sussex
P020 7EQ
Key Management Personnel
Barnabas Shelbourne, Chief Executive Offi￿r
Nicollette Baldwin, Director of Operdtions
Page 9

GREENPOWER EDUCATION TRusr
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 DECEMBER 2024
TRusfEES' RESPONSIBILttY sfATEMEKr
The trustees (who are also the directors of Greenpower Education Trust for the wjrposes of company law) are
responsible for preparing the Annual Report and the finanaal statements in accordan￿ with applicable law and United
Kingdom Accounting Standards (United Kingdom GeneTrlly A￿"pted Accounting Prattl￿).
Company law require5 the trustees to prepare financial ststements for each finanaal year which give a true and fair view
of the state of affair5 of the charitable company and of the incoming resources and application of reSoUr￿s, including
the income and expenditure, of the charttable company for that period. In preparing those finanoal statements, the
trustees are required to
select suitable accounting policies and then apply them consistenty;
observe the methods and prinoples in the ￿arity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subj* to any material departures disclo*d and
explained in the finanoal statements;
prepare the financial ststements on the going con￿rn basis unless it is inappropriate to presume that the charitable
company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with ￿asonable accuracy at any time
the finanaal posation of the charitsble company and to enable them to ensure that the finanaal statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the tharitsble company and hence for
tsking reasonable steps for the prevention and detectton of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit information of which the charitsble companvs auditors a￿ unaware; and
the trustees have taken all steps that they ought to have taken to make themselves awa￿ of any relevant aud
infomiation and to establish that the audttors are awa￿ of that infomation.
AUDITORS
On 16th December 2024 the a)ichester Offi￿ of Sheen Stickland merged wth Lewis 8rownlee (Chithester) Limited who
will be proposed for re-appointment as auditors at the forthcoming Annual General Meeting.
Report of the trustee5 in
orpjrating a strategic report, approved by order of the tA)ard of trustees, as the company
direttors, on .
11.i..*./&oLf............ and signed on the board's behalf by:
N S Vracas - Trustee
Page 10

REPORT OFTHE INDEPENDENT AUDrroRS TO THE MEMBERS OF
GREENPOWER EDUCATION TRusr
Opinion
We have audited the financial Statements of Greenpower Education Trust (the 'charitable company,) for the year ended
31 December 2024 which comprise the Ststement of Finanoal Attivities, the Balan￿ Sheet, the Cash Flow 5tstement
and notes to the financial statements, induding a summary of signifi(znt accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United kn'ngdom Accounting Stsndards
(United Kingdom Generally Accepted Accounting Practi￿).
In our opinion the financial statements:
give a true and fair view of the state of the charitable companvs affairs as at 31 De￿rnber 2024 and of its incoming
resources and application of resources, induding its income and expenditure, for the year then ended.
have been properly prepared in accordan￿ with United lfjngdom Generally Accepted Accounting Practi￿, and
have been p￿pared in accordan￿ with the requirements of the Companies Act 2Cw)6.
Basis for opinion
We conducted our audtt in accordan￿ with International Stsndards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibiliti.es under those standards are ftjrther described in the Auditors. responsibilitses for the audit of the
financial ststements section of our report. We are independent of the charitsble company in accordan￿ with the
ethical ￿quIrernents that are relevant to our audit of the finanaal ststements in the UK, including the FRC'S Ethical
Standard, and we have fijlfilled our other ethical responsibilities in accordance wtth these requirements. We believe that
the audit evidence we have obtained is suffiaent and appropnate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have c0f￿uded that the trustees, use of the golng concern basls of accounting
in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material un￿rtaIntieS ￿lating to events or conditions
that, individually or collectively, may cast significant doubt on the charrt3ble company's abilty to continue as a going
con￿rn for a period of at least tmelve months from when the finanaal statements a￿ authorised for issue.
Our responsibilities and the responslbj'lities of the trustees with resFett to going concem are described in the relevant
sections of this report.
Other information
The trustees are responsible for the other inf0M￿tiOn. The other infomation comprises the inforniation induded in the
Annual Report, other than the financial statements and our Rerort of the Independent Auditors thereon.
Our opinion on the finanaal statements does not cover the other information and, except to the extent otherwise
explicrtly stated in our report, we do not express any form of assurantr conclusion thereon.
In connection wtth our audit of the financial statements, our responsibillty Is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the finanaal ststements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent material misstatements, we are required to determine whether this give5 rise to a material mi55tatement in the
financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material
misstatsment of this Other infomiation, we a￿ required to reth)rt that fatt. We have nothing to report in this regard.
Oplnions on other matters prescribed by the Companies Art 2006
In our opinion, based on the work undertaken in the course of the audtt:
the infomiation given in the Report of the Trustees for the finanoal year for which the financial statements a
prepa￿d is consistent with the finanoal statements- and
the Report of the Trustees has been prepared in accordan￿ with applicable legal requirements.
Page 11

REPORT OF THE INDEPENDENT AUDThORS TO THE MEMBERS OF
GREENPOWER EDUCATION TRusr
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charrtable company and ts environment obtained in the course
of the audit, we have not identified material misststements in the Report of the Trustees.
We have nothing to rep)rt in respett of the following matters where trt Companies Act 2006 requires us to report to
you if, in our opinion-
adequate accounting records have not been kept or ￿turnS adequate for our audit have not been re￿iVed from
branches not visited by us; or
the financial statements are not in agreement with the accounting records and rebjms. or
certain disdosures of t￿steeS, remuneration speofied by law are not made, or
we have not re￿iVed all the infomation and explanations we require for our audiL
Responsibilities of trustees
As explained more fully in the Trustees, ResFonsibiliti'es Ststrment, the trustees (who are also the d1￿CtorS of the
charitsble company for the purposes of company law) are responsible for the preparation of the finanoal statements and
for being satisfied that they give a true and fair view, and for suth intemal control as the twstees determine is
necessary to enable the preparation of financtal statements that are free from material misststement, whether due to
fraud or error.
In preparing the financial ststements, the trustees a￿ responsible for a55essing the d)aritable company's abilty to
continue as a going con￿rn, disclosing, as applicable, matters ￿lated to going con￿rn and using the going concern
basis of accounting unless the trustees either intend to Ilquidate the tharitsble company or to ￿ase operation5, or have
no realistic alternative but to do so.
Our responslbllitles for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ ab(MJt whether the finanaal ststements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that indudes
our opinion. Reasonable assuran￿ is a high level of assurdntr, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud
or error and are considered material if, individually or in the aggregate, they could ￿aSOnablY be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to whith our procedures are capable of detecting 1r￿guI3r1tie$, Indudlng fraud Is detslled below:
Because of the Inhe￿nt lim'tstions of an audit, there is a risk that we will not detect all irregularities, including those
leading to a material misststement in the finanaal statements or non-complian￿ with regulation. This risk increases the
more that cofflplian￿ wrth a law or regulation is removed from the events and transattions reflected in the finanaal
statements, as we will be less likely to become aware of InStan￿S of non-complian￿. The risk is also greater regarding
irregularities occurring due to fraud rather than error, as fraud involves intentional Con￿alment, forgeryi collusion,
omission or mlsrepresentation.
A further description of our re%￿nsIt￿lItles for the audrt of the financial statements is Ic£ated on the Financial Reporting
Council's website at www.frc.org.uklauditcwsresponsibilities. This descripb'on forms part of our Report of the
Independent Auditors.
Page 12

REPORT OF THE INDEPENDENT AUDITORSTO THE MEMBERS OF
GREENPOWER EDUCATION TRusr
Use of our report
This report is made solely to the tharitable companls members, as a t#)Jy, in accordan￿ wtth Chapter 3 of Part 16 of
the Companies Att 2006. Our audtt work has been undertaken so that we might state to the charitable company's
members those matters we are ￿qUIred to state to them in an auditors. report and for no other purpose. To the fullest
extent pemiitted by law, we do n(rt a￿ept or assume resFonsibilty to anyone other than the charitable company and
the charitsble company's members as a body, for our audit work, for this rewrt, or for the opinions we have formed.
Sarah Atexander FCCA FCA (Senior Statutory Audfcor)
for and on behalf of Lewis Brownlee (Chichester) Limited
Ststutory Auditors
Appledram Bams
Birdham Road
Chichester
West Sussex
P020 7EQ
Date: ......
Page 13

GREENPOWER EDUCAIION TRusr
srATEMENT OF FINANCIAL AcnvrriES
(INCORPORATING AN INCOME AND EXPENDThURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Restricted
fund
funds
2024
Total
funds
2023
Total
funds
Notes
INCOME AND ENDOWMEprrs FROM
Donattons and legaaes
40
10,000
193,340
251,769
Charitable activities
Sales of cars and parts
1 173 441
1 1127799
Totsl
1356 781
1366 781
1379 568
EXPENDITURE ON
Charitable artivities
Sales of cars and parts
1357 861
1386 273
1378 907
NEf INCOME/(EXPENDrnIRE)
(1,080)
(18N12)
(19,492)
661
RECONCILIATION OF FUNDS
Totsl funds brought forward
98,690
18.412
117,102
116,441
TOTAL FUNDS CARRIED FORWARD
117 102
The notes form part of the* financial ststements
Pa9e 14

GREENPOWER EDiICATION TRUST
BALANCE SHEEr
31 DECEMBER 2024
2024
Totsl
funds
2023
Total
funds
Unrestricted Restricted
fund
funds
Notes
FIXED ASSETS
Tangible a￿ts
Investments
li
12
3,750
3,750
3,751
3,751
CURRENT ASSErs
Stocks
Debtors
Cash at bank and in hand
13
14
63,115
158,043
63,115
158,043
61,474
126,900
267 133
273,427
273.427
455,507
CREDrroRS
Amounts falling due within one year
15
(165,485)
(165,485)
(314,042)
NET CURRENT ASSErs
107 942
107 942
141465
TOTAL ASSETS LESS CURRENT UABILITIES
111,693
111,693
141,466
CREDrroRS
Amounts falling due after more than one year
16
(14,083)
(14,083)
(24,364)
NEf ASSETS
117 102
FUNDS
Unrestricied funds
Restricted funds
19
97,610
98,690
TOTAL FUNDS
117 102
The financial ststements were approved by the Board of Trustees and authorised for issue on
. and were signed on its behalf by:
N S Vracas - Trustee
The notes form part of these financial statements
Page 15

GIiEENPOWER EDUCATION TRU
CASH FLOW StATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from operating artivlties
Cash generated from operations
199 165)
213 284
Net cash (uod in)/provided by operating activities
199 165)
213 284
Cash flows from investing activities
Purchase of tsngible fixed assets
Sale of tangible fixed assets
(5.000)
671
Net cash (used in)Iprovided by investing athvities
Cash flows from financlng activities
Loan repayments in year
Net cash used in finanang acb'vilies
10 027)
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
(214,863)
203,503
267 132
Cash and cash equivalents at the end of
the reporting period
267 132
The notes fomi part of these finanaal statements
Page 16

GREENPOWER EDUCATION TRUST
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
RECONCILIATION OF NET (EXPENDThURE)/INCOME TO CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
Net (expenditure)lincome for the reporting period (as per the
ststement of Financial Activities)
Adjustments for:
Depreciation charges
L05s on disposal of fixed assets
(Enuease)/decrease in stocks
Increase in debtors
(Decrease)lincrease in creditors
(19,492)
661
1,250
671
(1,641)
(31,143)
148 810)
71,963
(35,000)
175 660
Net cash (used In)/provided by operations
199 165)
ANALYSIS OF CASH AND CASH EQUtVALENTS
2024
2023
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due withln one year
Total cash and cash equivalents
198
266,935
i)
52,269
267 132
ANALYSIS OF CHANGES IN NET FUNDS
At 111124
Cash flow
At 31112124
Net cash
Cash at bank and In hand
Bank overdraft
267,133
(214,864)
52,269
267 132
214 863)
Debt
Debts falling due wrthin l year
Debts falling due after l year
{10,036)
(254)
(10,290)
14 083)
Totsl
232 732
204 836)
The notes fonn part of these finanaal statements
Page 17

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POUCIES
Basis of preparing the financial statements
The finanoal ststements of the charitsble company, which is a public benefit entty under FRS 102 have been
prepared in accordan￿ wrth the Charities SORP (FRS 102) 'Accounting and Reporting by Chanties.- Ststement of
Recommended Practi￿ applicable to chartbes preparing their accounts in accordan￿ with the Financial
Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial
Reporting Stsndard 102 The Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland, and the
Companies Att 2006. The finanoal statements have been prepa￿d under lJ)e historical cost convention, with the
exception of investments which are induded at market value.
Income
All income is recognised in the Ststement of Finanaal Activities On￿ the charity has entitlement to the funds, it is
probable that the income will be recewed and the amount can be measured reliably.
Grants and sponsorships are induded in the Ststement of Financial Activities on a retrivable basis. The balan
of income received for speafic purposes but not expended during the period is shown in the relevant funds on
the Balance Sheet. whe￿ income is received in a(fvan￿ of entittement of receipt, its recogntion is deferred and
induded in creditors as deferred income. whe￿ entitleM￿t occurs before income is r￿1ved, the income is
accrued.
Donated services or facilities are recogni*d when the Charity has control over the item, any condltions
associated with the donated item have been met, the re￿Ipt of economic benef￿ from the use of the Charty of
the item is probable and that economic benefft can be measured reliably. In accordance wtth the Char(ties SORP
(FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees, report for more
informatlon about their contribution.
On retript, donated professional Servi￿ and facilib'es are recognised on the basis of the value of the glft to the
Charity which is the amount rt would have been willing to pay to obtsin Servi￿5 or facilities of equivalent
economic benefit on the open market; a corresponding amount Is then recognised in expenditu￿ in the period of
ipt.
Expenditure
Liabilities are recognised as expenditu￿ as soon as the￿ is a legal or constructive obligation committing the
charty to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. ExpeThjitU￿ is accounted for on an accruals basis and has
been classified under headings that aggregate all cost related to the category. Where costs cannot be directly
attrFbuted to particular headings they have been allocated to attiviiies on a basis conslstent with the use of
resources.
Government grants
Govemrnent grants relating to tsngible fixed assets are treated as deferred income and ￿leaSed to trje
ststement of Financial Attivities over the expected usefijl lives of the assets cOn￿rned. Other grBnts are credited
to the Statement of Financial Activities as the related expenditure is incurred.
Interest re￿1¥able
Interest on funds held on deposit is induded when receivable and the amount on be measured reliably by the
Charity; this is nomally upon notification of the interest paid or payable by the institution with whom the fijnds
are deposited.
Intangible assets and amortisation
Intsngible assets costing £1,000 or more are caprt3lised and recognised when future economic benefrts are
probable and the c05t or value of the asset can t)e measured reliably.
Intangible assets are initially recognised at cosL After recogniti(J), under the c05t m(*Jel, intsngible a￿ts are
measured as cost less any accurnulated amorti5ation and any accumulated impairment losses.
Amortisation is provided on intangible assets at rates calculated to wrrte off the cost of each asset on a straight
line basis over its expetted u*ful life.
Page 18
continued...

GREENPOWER EDUCATION TRUS[
NOTES TO THE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES - continued
Intangible assets and amortisation
Amortisation is provided on the following basis
Website
- 3 years straight line.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off eath asset over ts estimated useful
life.
Plant and machinery
Fixtures and fittings
Motor vehides
200/0 on cost
20% on cost
33 % on cost
Tangible fixed assets costing £2,000 or MO￿ are capitslised and recognised when ftrture economic benefits are
probable and the cost or value of the asset can be measured reliably.
Stocks
Stlxks are valued at the lower of cost and net ￿alisable value after making due allowan￿ for obsolete and
slow-moving stocks. Cost includes all dirett costs and an appropriate proporknon of fixed and variable overheads.
Taxation
The charity is exempt from corporats'on tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accnrdance with the charitrdble objectives at the discretion of the trustees.
Restricted funds can only be used for particular restrlcted purposes wtthin the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and wrpose of each fiJnd is induded in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitsble company operates a defined contribution pension scheme. Contributions payable to the
charitsble company's pension xheme are charged to the Ststement of Financial Attivits'es in the period to which
they relate.
DONATIONS AND LEGACIES
2024
2023
Donations
Grants
Sponsorship
138,889
23,000
31
150,306
11,463
193 340
251769
Grants received, induded in the above, are as follows:
2024
2023
Other grants
Page 19
continued...

GREENPOWER EDUCATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
INCOME FROM CHARrrABLE ACTIVITIES
2024
Sales of cars and parts
Entry fees
Miscellaneous income
Distributson and carriage
International li￿nSeS
Activity
Sales of cars and parts
Sales of cars and parts
Sales of cars and parts
Sales of cars and parts
Sales of cars and parts
2023
1,031,166
98A95
260
32,520
986,312
83,036
129
47,322
1 173 441
1127 799
CHARrrABLE ACTIVITIES cosrs
Direct
Support
Costs (see costs (see
note 5)
note 6)
Totals
Sales of cars and parts
1217 136
169 137
1386 273
DIRECT cosrs OF CHARITABLE AcrIvmES
2024
2023
Stsff costs
Rates and water
Advertising
Elettric car racing series
Other direct cost
Consultancy fees
Rent
Staff training and contractors
Bad debts
Opening stock
aosing stock
355,015
2,598
8,085
775,748
30,695
289,711
2,898
2,307
785,889
42,000
8,316
30,000
909
30,000
2,631
14,005
61,474
63 115)
133,437
61474)
1217 136
1233 993
SUPPORT cosrs
Management
Governan
costs
Finan
Totals
Sales of cars and parts
169 137
Page 20
continued...

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
SUPPORT cosrs - continued
Support costs, included in the above, are as follows".
2024
Sales of
cars and
parts
2023
Total
activities
Insurance
Light and heat
Telephone
General offits expenses
aeaning
Motor expenses
Travel and subsisten
Repairs and maintenan
UK entertainment
Bank charges
Depreciation of tangible fixed assets
Loss on sale of tangible fixed assets
Auditors, remuneration
Accountsncy and legal fees
15,678
3,487
3,534
28,758
4,070
9,486
34,087
3,840
9,954
7,677
1,250
671
7,400
15,807
2,556
3,492
21,001
2,026
4,732
32,897
2,072
3,150
6,314
7,835
169 137
NET INCOME/(EXPENDTfuRE)
Net income/(expenditure) is ststed after charging/(crediting):
2024
2023
Auditors, remuneration
Depreciation - owned assets
Deficit on disF()sal of fixed assets
7,400
1,250
671
7,83S
TRusfEES' REMUNERATION AND BENEFrrs
There were no trustee5' ￿muneratiOn or other benefits for the year ended 31 December 2024 nor for the year
ended 31 December 2023.
Trustees, expenses
During the year ended 31 December 2024 extenses totalling £78 (2023: £266) were reimbursed to one trustee
(2023: t￿0 trustees) in relation to travel costs.
Page 21
continued...

GREENPOWER EDUCATION TRUS[
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
STAFF cosrs
2024
2023
Wages and salaries
Social security costs
Other pension costs
324,441
25,209
270,270
14,783
355 015
289 711
The average monthly number of employees during the year was as follows:
2024
13
Charitsble activibes
2023
12
One employee re￿iVed remuneration in the band £60,000 to £70,OCK),
Totsl remuneration to key management personnel amounted to £lll,S17, this being the remuneration and
employment benefjts of the CEO and Head of Operations.
io.
INTANGIBLE FIXED ASSErs
Computer
software
COST
At l January 2024 and 31 December 2024
AMORTISATION
At l January 2024 and 31 De￿mter 2024
NET BOOK VALUE
At 31 De￿mber 2024
At 31 De￿mber 2023
11. TANGIBLE FIXED ASSErs
Fixtures
and
fittings
Plant and
machinery
Motor
vehicles
Tota15
COST
At l January 2024
Addiknon5
10,390
1,651
12,041
At 31 Detrmber 2024
DEPRECIATION
At l January 2024
Charge for year
10,390
1,651
12,041
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
Page 22
continued...

GREENPOWER EDUCATION TRusr
NOTES TO ThE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
12.
FIXED ASSET INVEsfMENTS
Shares in
group
undertakings
MARKET VALUE
At l January 2024 and 31 Detrmber 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023
There were no investment assets outside the UK.
The company's investments at the balantr sheet date in the share capital of companies include the following:
Greenpower Limited
Registered offitr: The Greenpower Centre, Arundel Road, Fontwell, AnJThJel, West Sussex, 8N18 OSD
Nature of business: Primary education
Class of share:
Ordinary
holding
loo
2024
2023
Aggregate capital and reserves
2,495
2,495
13. sfocKS
2024
2023
Stocks
14.
DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR
2024
2023
Trade debtors
Other debtors
VAT
Prepayments and accrued income
128,064
91,730
1,355
24,179
8,730
126 900
Page 23
continued...

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL sfATEMEi¥fs - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
15,
cRED￿ORS. AMOUNTS FALLING DUE wmiiN ONE YEAR
2024
2023
Bank loans and overdratts (see note 17)
Trade creditors
Amounts owed to group undertakings
Social security and other tsxes
Other creditors
Accruals and deferred income
10,290
51,965
2,618
7,109
759
10,037
200,883
2,618
15,617
4,760
Deferred income
2024
2023
Deferred income at l January 2023
Resources defe￿ed during the year
Amounts ￿leaSed from previous Fericds
66,835
81,494
39,301
66,835
39 301)
Deferred income comprises of £81,494 ￿stOMer payments in advan￿ (2023: £66,835).
16. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR
2024
2023
Bank loans (see note 17)
17. LOANS
An analysis of the maturrty of loans is given below..
2024
2023
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling bet￿een one and two years".
Bank loans- 1-2 years
Amounts falling due between tm and five years:
Bank loans - 2-5 years
In October 2020 the Trust signed up to the Government Boun￿ Back Loan scheme and re￿iVed £50,000. The
Trust has been granted a ￿paYment holiday for a period of 12 months from the date on which the loan is drawn
in respect of the capital element of their repayments.
From October 2021 the Trust Was required to make 60 monthty repayments of £887.
Interest is charges on the loan at 2.50/0 per year.
Page 24
continued...

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
18.
LEASING AGREEMENTS
Minimum lease payments under non-Can￿lIable operating leases fall due as follows:
2024
2023
Within one year
Bet￿￿n one and five years
In more than fEve years
30,000
12,000
30,000
120,000
109 500
247 500
19.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31112124
At 111124
Unrestricted funds
General fund
98,690
(1,080)
97,610
Restricted funds
Cummins CPD
Cubico Sustainable Investments
6,949
li
(6,949)
18 412)
TOTAL FUNDS
117 102
19 492)
Net movement in fvnds, induded in the at￿ve are as follows:
Incoming
resour
Resources
expended
Movement
in funds
Unrestricted funds
General fund
1,356,781
(1,357￿61)
(1,080)
Restricted funds
Cummins CPD
Norfolk Communty
Cubico Sustainable Investrnents
(6,949)
{io,000)
11463)
10,000
(6,949)
11463)
18 412)
TOTAL FUNDS
1386 273
1366 781 ￿ ￿19￿492}
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continued...

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
19.
MOVEMENT IN FUNDS- continued
Comparatives for movement in funds
Net
movement
in funds
Transfers
between
funds
At 111123
At
31112123
Unrestricted funds
General fund
33,055
20,016
45,619
98,690
Restrirted funds
Cummins CPD
ups
Kusuma
Westminster
Motorola
MacRobert Trust
Be Together
Cubico Sustsinable Investrnents
30,662
14,493
12,405
8,773
8,137
7,051
1,865
(30,818)
7,105
(14,493)
(12,405)
(8,773)
(8,137)
(7,051)
(1,865)
6,949
TOTAL FUNDS
661
117 102
Comparative net movement in funds, induded in the above are as follows:
Incoming
Resour￿9
resources expended
Movement
in funds
Unrestricted funds
General fund
1,368,105
(1,348,089)
20,016
Restricted funds
Cummins CPD
Cubico Sustainable Investments
(30,818)
(30,818)
19 355)
TOTAL FUNDS
1379 568
1378 907)
661
Page 26
continued...

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL sfATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
19.
MOVEMENT IN FUNDS- continued
A current year 12 month5 and prM)r year 12 months combined ￿SitiOn is as follows:
Net
movement
in funds
Transfers
between
funds
At 111123
At
31112124
Unrestricted funds
GeneTrl fund
33.055
18,936
45,619
97,610
Restrirted funds
Cummins CPD
ups
Kusuma
Westminster
Motorola
MacRobert Trust
Be Together
30,662
14,493
12,405
8,773
8,137
7,051
(37,767)
7,105
(14,493)
{12,405)
(8,773)
(8,137)
(7,051)
TOTAL FUNDS
18 831)
A current year 12 months and kyior year 12 months combined net movement in funds, induded in the above are
as follows:
Incomlng
resources
Resources Movement
expended
in funds
Unrestricted funds
General fund
2,724,886
(2,705,950)
18,936
Restn"cted funds
Cummins CPD
Norfolk Community
Cubico Sustsinable Investments
(37,767)
(10,000)
11463)
(37,767)
10,000
21463 ￿37 767)
2 746 349
2 765 180)
TOTAL FUNDS
Norfolk Community
Participation of 14 schools in the great Yarmouth and North Ncrfolk and Bre￿andS regions to tske part in the
Greenpower F24 challenge.
Cummings CBD
Funding to inbed Green￿Wer Goblin project into primary sdKol curriculum and to provide CPD for teachers
running the project.
Cubica
Funding to assist 7 schools (preferdbty East London and female identified composibon) purchase F24 cars, set up
new teams and partlcipate in Greenpower challenges.
Page 27
continued...

GREENPOWER EDUCATION TRusr
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
20.
RELATED PARTY DISCLOSURES
At the year end date, the charity owed Greenpower Lrmited, its IOOOA owned subsidiary £2,618 (2023: £2,618).
No related party trBnsatttons took place during this year or the previous finanoal year.
Page 28