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Annual Report 2025
Annual Report and Accounts for the year ending 31st December 2025 1
Mears Foundation
A look inside a year of growing impact, stronger partnerships, and community-led change.
Contents
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|Structure, governance and management|2|
|Financial review|3|
|Accounting policies|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|8|
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The Mears Foundation is the independent, charitable arm of Mears Group plc. Registered Charity Number: 1134941 / Company number: 07021016 Second Floor, 5220 Valiant Court, Gloucester Business Park, Brockworth, Gloucester GL3 4FE
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Annual Report and Accounts for the year ending 31st December 2025 3
Mears Foundation
Structure, governance and mana ement g
The charity was incorporated on the 16 September 2009 and is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Foundation is managed by its General Manager, Heather Tyrer, under the guidance of the Chair and the Board of Trustees.
Registered Office: Mears Group PLC Second Floor
Registered Charity Name:
The Mears Foundation
Charity Number: 1134941
5220 Valiant Court Gloucester Business Park
Company Number: 07021016 (England and Wales)
Gloucester
GL3 4FE
Chair:
Bankers:
Ms Christine Losecaat MBE
Barclays Bank PLC 18 Southgate Street Gloucester GL1 2DH
Company Secretary/Treasurer: Mrs Judith Herbert
Trustees:
Mr Martin Gaffney
Mr Patrick Grace
Mrs Judith Herbert
Ms Diane Keay
Ms Alison Wilkinson
Mr Liam Wilkinson
Executive Staff:
Heather Tyrer
Financial review
- e make judgements and estimates that are reasonable and prudent.
During the year, the charity raised funds in the amount of £358,058.
- e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
From these funds, the £59,472 incidental running costs of the charity were met and grants of £302,306 given. The excess funds remain in the bank account to carry forward for future projects and grants.
- The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993 and the Charity (Accounts and Reports) Regulations 2008. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Responsibilities of the trustees
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The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
Small company provisions
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
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On Behalf of the Board:
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e select suitable accounting policies and then apply them consistently.
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e observe the methods and principles in the Charities SORP.
Christine Losecaat mbe Chair
February 2026
Annual Report and Accounts for the year ending 31st December 2025 5
Mears Foundation
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Accountin olicies g p
Grants for the purchase of fixed assets are credited to restricted incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund.
Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of current asset investments at market value, in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), the Companies Act 2006 and the recommendations in the Statement of Recommended Practice: Accounting by Charities (the SORP).
All other income is included in the statement of financial activities when received or when the charity is legally entitled to the income.
Fund accounting
Restricted funds are to be used for specified purposes laid down by the donor. Such purposes are within the overall aims of the organisation. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.
Incoming resources
Donations and gifts
All monetary donations and gifts are included in full in the statement of financial activities when receivable, provided that there are no donorimposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre-condition has been met.
Unrestricted funds are donations and other incoming resources received or generated for expenditure on the general objectives of the charity.
Grants receivable
Designated funds are unrestricted funds which have been designated for specific purposes by the Trustees, for necessary work in connection with the ongoing provision of services yet fail to meet the stringent criteria of contractual obligation set out in FRS12 (Provisions, Contingent Liabilities and Contingent Assets).
Revenue grants are credited as incoming resources when they are receivable provided conditions for receipt have been complied with, unless they relate to a specified future period, in which case they are deferred.
Resources expended
Grants payable
Grants payable are accounted for in the period in which the performance conditions attaching to the grant payment are met or, where no performance conditions apply, when a legal or constructive obligation arises.
Other expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, which is reported as part of the expenditure to which it relates:
e costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising.
e charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
e governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
e all costs are allocated between the
expenditure categories of the Statement of Financial Activity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
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Annual Report and Accounts for the year ending 31st December 2025 7
Mears Foundation
Statement of financial activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Funds 2025 | Funds 2024 | ||
| Note | £ | £ | |
| Incoming resources | |||
| Voluntary income | 1 | 294,467 | 297,472 |
| Activities for generating funds | 2 | 60,764 | 47,311 |
| Incoming resources from | |||
| charitable activities | 3 | 2,827 | 2,719 |
| Total incoming resources | 358,058 | 347,502 | |
| Resources expended | |||
| Cost of generating funds | 7 | 6,771 | 5,385 |
| Charitable activities | 4 | 331,184 | 362,690 |
| Salaries | 8 | 54,072 | 50,119 |
| Total resources expended | 392,027 | 418,194 | |
| Net incoming resources for | |||
| the period | (33,969) | (70,692) | |
| Reconciliation of funds Total funds brought forward |
141,606 | 212,298 | |
| Total funds carried forward | 107,637 | 141,606 |
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The accompanying accounting policies and notes form part of these financial statements.
Balance sheet
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| Funds 2025 | Funds 2024 | ||
| Note | £ | £ | |
| Current assets | |||
| Cash at bank | 99,254 | 217,981 | |
| Debtor | 18,633 | 7,343 | |
| 117,887 | 225,324 | ||
| Creditors: amounts falling due | |||
| within one year | 9 | (10,250) | (83,718) |
| Net assets | 107,627 | 141,606 | |
| Funds | |||
| General funds | 107,637 | 141,606 | |
| Total funds | 107,637 | 141,606 |
These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustee's responsibilities:
e the members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
These financial statements were approved by the trustees and authorised for issue on 20th February 2026 and are signed on their behalf by:
e the trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
Christine Losecaat mbe Judith Herbert Chair Treasurer
| 8 | Notes to the fnancial statements Mears Foundation |
Activities undertaken Support Total Funds Total Funds directly costs 2025 2024 £ £ £ £ 5. Costs of charitable activities by activity type Mears fundays 251 – 251 387 Auctions / rafes 456 – 456 335 Sponsored events 28,171 – 28,171 19,456 Donations 302,306 – 302,306 342,512 Direct costs 331,184 – 331,184 362,690 6. Governance costs Governance costs were met by Mears Group PLC. 7. Analysis of support costs Charity giving administration fee 1,370 1,210 Staf expenses 2,130 2,078 Compliance fees 218 204 Merchandise/Printing 2,550 633 PR fees – 1,260 Sundry costs 503 – 6,771 5,385 8. Staf costs and emoluments Salaries 54,072 50,119 54,072 50,119 9. Creditors: Amounts falling due within one year Other creditors 10,250 83,718 10,250 83,718 10. Analysis of net assets between funds All funds are designated as general funds 9 Annual Report and Accounts for the year ending 31st December 2025 |
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|---|---|---|---|
| Total Funds Total Funds 2025 2024 £ £ 1. Voluntary income Donations 294,467 297,472 294,467 297,472 2. Incoming resources from activities for generating funds Sponsored events 55,036 42,483 Mears fundays 2,462 2,355 Collections / rafes 3,266 2,473 60,764 47,311 3. Incoming resources from charitable activities Gift aid 2,827 2,719 2,827 2,719 4. Costs of charitable activities by fund type Auctions / rafes 456 335 Sponsored events 28,171 19,456 Mears fundays 251 387 Grants given 302,306 342,512 331,184 362,690 |
For more information about the Mears Foundation please contact Heather Tyrer, General Manager on: heather.tyrer@mearsgroup.co.uk Visit our website: www.themearsfoundation.org.uk