Regislered number. 07285615 Charlty number. 1137520 THE EVOLUTION EDUCATION TRUST TRUSTEES. REPORT AND FINANCIAL sTATEMErs FOR THE YEAR ENDED 31 MARCH 2024
THE EVOLUTION EDUCATION TRUST CONTENTS Page Relerenc• and AdmlnS¥tratl¥e D•talls of the Charityi It• Trust•• and Advl•ers TTU•te•¥' Report Independ1 Audltor•' Report on lh• Financlal Stotsment• 8tstom•nt of FSnanclal Actlvltl stst•m•nt of Fln•nell Po•ftloTr 10 St•tsm•nt of C•ih Flow• 11 NatM to th• Fln•ncl•l St•t•m•nt• 12-20
THE EVOLUTIOM EDUCATION TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 TN8t••8 M S AMogn8y J S Milner R Gouna Company r•gl•t¢red numb•r 07285615 Gharlty rngl•t•red numb•i 1137520 R•gl•t•red offlc• Hon&y Hill Hous 20 Honey Hill Cambridg8 CB3 08G Ind•p•nd•nt audltQf• Sopher + Co LLP Chartered AOuntants Stslutory Audltors 5 E15tree Gate E181ree Way SOrehamwd Hertfordshlre WD6 1JD Pagtr 1
THE EVOLUTION EDUCATION TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together wlth Ihe audited financL91 statemen18 of the Chorlty for the period from 1 April 2023 10 31 March 2024. The Annual Rèpc>rt serves the purpo$8s of both a Tnjstees, Teport and a dirtsclors, report under company law. The Trustees confirrn that Ihe Annual R8port and financial stalernents of the charitable company CoMY wlth the Gurrènl stalulory rèquirements, the Tequirernenls of the charitable companls governing document and thè provisions of the Ststement of Recommended Pr8dce ISORPI applicable to chartties preparing their accounts in accordance wllh the Flnanc181 ReporUng Stsndard applicable in the UK and Republic of Ireland IFRS102I leffactiva 1 January 20191. Slnce the Charfty quallfl8s as small under sedon 382 of the Companias Act 2006, th8 Slraleglc Report roqulred of medium and large companies undèr the Companles Act 2006 Istraleglc Report and Directors, Raport) Rogulalions 2013 has been omitted. Obl•ctlv•8 and •ctlvltle• a. PolicieB Ind obJ•ct5Y•¥ The Charllls oblecllve8 are the education of the public Iwbth partlcular emphasls students engaged In lull me edu¢alion} in the sryerrtrfic princjples of evolution. The charllable Company m88ts these objaclves by m8king monies avall8ble In the form of grants and donallons to other charitsble orgonisatsons. assessed on case-by-case b8818 and Bt the discrellon of the 8oard of TTuslee8, In $8ttlng o¥ectlves ind plannlng for gcliwtles, the Trust¥¥8 hav8 glven due ¢sIderatIOn lo general guldance publish8d by the Charity CommisslDn relaUng to publlc benefit, Includlng th8 guidanca 'Public benefit.. running charlty IPB21'. Achl•v•m•nts and p•rformanc• . M•ln •¢hl•v•mfrnt• of th• Ch•rlty During the period th8 Ch8rKy received Income of £3.008,417 12023.. £NILI and donated £914,fj82 12023.. £1.381,7721 to 1312023.. 141 in5lllullons and charilles, whlch the trustees consider lo be salisfa¢tory. Flnanclal revlew *. Golng conc•rn After making appTOPri8te enquiries. the Truste8s have a rea50n8ble expectsllon th81 the Chadty has Bdequate resources lo continue in operational exlslence for Ihe for8s8eable future. For thls reason, they continue to adopt the going conc8m basis in preparing the financial statements. b. R¢6or¥es pollcy Al the Statement of Financi81 PO8(On date the Charity had unexpended resources amounllng to £2.813,158 12023.. £840.1921. Thè Board of Trustees alms to relain sufficlent reserves to meet Sts ongolng annual commitments, but intends lo continue lo utillse all available reserves the charitable purpose5 Set out above. Page 2
THE EVOLUTION EDUCATION TRUST TRUSTEES. REPORT ICONTINUEDI FOR THEYEAR ENDED 31 MARCH 2024 Structurn. go¥•rn4nce and manag•ment a. ConstStuilon The Evolutlon Educalon Trust Is registered a5 8 charitable Company Ilmited by guarantee and was sel up by Memorandum of Association on 15 June 2010. b. M•thod¥ of appolntm•nt or •l•ctlon of TrustM• Th8 management of the Charlty 18 tha responslbility of Ihe Trustees who ar8 efectsd and rAJ.opled under the 18ms of the Artides of A880clation. Tha method of appolnlment of now trustees 18 as 8et In thts Ch8rlV$ ArUcle8 of Asscciatlon. c. PollcloB Bdopt•d for th• Inductlon and tralnlnq of Tru•t••• New Iwstees are made 8w8rg of the purposes and alms of the Ch8rfty, as well 8$ thelr gen8r81 and specffic duties. as determlned by tha chaimian. New trustees are expected to famlllarise Ih8mselves wllh all th8 acliwtSes of the Charty. d. Relat•d party i•latlon•hlp• Durlng the year the Ch8rlty recelved donallons of £3,006,417 12023.. £NILI from J S Mllner, 8 trustee of the Charity. •. Flnanclal rl•k m•nag•m•nt The Trustees have ossessed th8 major dsks to which the Charity Is exposed, In pgrtlcu18r those related to tho operations and finances of the Chadly, 8nd are 88lisfled that systems and procedures are in place lo mitigBte exposure lo tho major risk8. f. Rof•rnnc• and admlnlstratlv• detalli Th8 full nam• of the Charfty Is The Evolutlon Educafjon Trust and Its Reglstered Charlty Number 18 1137520. The Trustegs, who are al80 the dlrectors for the purpose of company18w. who serd durlng thè year werg.. M S A Magnay J S Milner R Gounarl Plan• fi)r futur• perlods Th& Trustees alm to Continue lo makg donations to other charitable org8nl$ations. Page 3
THE EVOLUTION EDUCATION TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 statement of Tru¥tee8' re8ponlbllltlo$ The Trus18es (who are also the directors of the Charity for the purposes of company lawl are responsie for preparing the TTUStee8' Report and the fln8nd81 statements In accordance wlth applicablè law ond Unlletl Klngdom A¢countSng Standards Iunlled Klngdom Ganerally Acceplèd Acuunty'ng PractrE). Company law requlres the TTUStees lo prepare finandal 8latemenls for each flnancSal year. Under company law. the Trustees must not approve the finanaal statements unless they are satisfied Ih8t thèy give a true 8nd fair view ol the stste of affairs of the Charlty and of Incoming resources and applicatlon of resources. Includlng Its Income and expgndlture. for that perlod. In preparing these financial st8tem8nls. the Trustees are requlre(I to.. select sult8ble 8ccounts.ng polldes and then apply them consistentl. obserye th¢ methods and principles of the Ch8rrtle8 SORP IFRS 1021. make judgments 8n¢J accounting esllmate$ that are reagonable and prudent., ¥lale whether appllcable UK Accounting Standards IFRS 1021 have been followed, 8ublocI lo any malerlal deperturos dlsc105ed and explalnod In the financial statements; prepare the finand81 statsmenls on the golng Goncarn basls unless il 1$ Inapproprlale to presume that the Charlty wlll ¢nu8 in buslnes8. The Trustees aro r8spon81blo lor keaping ad8qu81e ?OUnn9 records thal 8re 8ufflci8nt to show and explain the Ch8dtys transacllons and disclose with rea80nable accur8¢y at any Ime the financlal posltion of the Charty and enoble them to ensure Ih8t the finanGiBI 8t8tements comply wlh the Companies Act 2006. They are 8180 sponsible for safeguardlng assets of the Charfty and hence for laklng rea80naWe slèp8 for the prevenllon and dotoction of fraud and 0th8r irregularities. Dl•clo•ur• ol Inforrn•tlon to audltor• Each of the persons who are Trustsès 8t lh8 time vthen this Tru8tees' Report Is approved has conflrned that,. so far a8 that Trustee Is aware, there 18 no relevanl audit Inf0MaOn of whlch the Ch8rftys audltors 8ro unaware, and tt)at Trustee h88 taken all the slep8 th81 ought to have been taken a8 a Trustee in order lo bg aware of any relevant audit inlomiation and lo estsbllyh that the CharW5 audIt8 ore Aware of that Informallon. Audltor• Undar section 487121 of the Companies Act 2006. Sopher + Co LLP wlll be deem8d lo have b88n reappolnled as auditors 28 days aft8r these finanaal st8temenls were s8nt to memb8rs or 28 days after the latest date prescrlbed for flllng the occounts th the reglstrar, whlchovor is earfler. In preparlng th15 report, the TnJslee$ have taken advantsge of the small companles axemptions provlded by se¢tkJn 415A of the Companiés Aet 2006. Approved by Order of the memb8rs of the board of Trustees and $Sgned on thelr bèh by.. M S A Magnay Trustee Date.. 23 Octc>er 2024 Page 4
THE EVOLUTION EDUCATION TRUST INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE EVOLUTION EOUCATION TRUST Oplnlon We have audited the financial statsrnents of The Evolution Education Trust {the 'charitl for the year ended 31 March 2024 which compris8 the Statement of Flnancial ACtilIes, the Statement of Flnanclal Position, the Stalemenl of Cash Flows and the rel3led notes, Including a summary o15ignrficanl accounting policies. The financial reporting fraMek that has boen applied in their preparation is applicable law and United Klngdom Accounting Standards, Indudin9 Financial Reportlng Standard 102 'The Financlal Reportlng Standard appllcablo In th8 UK and R8public of Ireland. (Unitsd Kingdom Generally Acc¢pt8d AccoLbnling Practic61. In our opink)n tho financial slalernonts.. glve 8 tnje and falr yW of the slate of tho tharllable companvs 8ffairs as 8131 March 2024 and of its Incomlng resourc88 applIc8On of ro$¢)urc•s, including Its Income and expendlturè for the year then ended., have beèn properfy prnpared In acc(dance wth Unlted Kingdom Genorally Acc8pl8d Accounllng Practice., and have been prepared in accordance bmth the requlrements of the Companles Act 2CK)6. B•¥ls for oplnlon We conducted our audil in accordanc8 with Intem8liDnal Standards on Audi1Sng IUKI IISAS IUK}l and applicaNe law. Our responsibilities under those stgndords 8re further dascrtbgd In the Auditors. responslbSllties for the audll of the flnancial ststaments seclion of our report. Wa are indep8ndenl of the charitable company in accordance wth the elhlcal requlremenls Ihat are relewant to our audit of the financ181 stBtemenls Sn the Unltgd 'ngdOM, induding the Financial Reporting Council's Ethical Standard, and wo hav8 fulfilled 1r other 8lhic81 re$ponslbllitSes In accordance with Ihege requirements. We belleve that the audlt evidgnGe we have obtalned l¥ Sufficient and appropri818 to provide a basis for our opinion. Con¢luslon• rolatlng to golng con¢•rn In autliting the financlal stalements, we hove concludad that th8 Trustees, u88 ol the going concern b8sI8 of accounllng In the preporlon of the flnancial stalemenls is appropriate. Based on the work we h8ve porfomied. w8 have not Identified any mat8rial uncert8ints.es relating to events or cOndIon8 that. Indlvldually or lleCtIVely, may cast slgniflcanl doubt on the charilBble companvy abllty to continu8 as a going ¢onc8rn for a period of at least twelve months frorn whèn the financlal st8temenl8 are auth0ri89d for igsue. Our re5PKJnsibilitses and the r8sponsibllib'e8 of the Trn8tees wilh respect to going COnM are described in the relevanl sedon$ of th18 report. Page 5
THE EVOLUTION EDUCATION TRUST INDEPENDENT AUDITORS. REPORT TO THE klEMBERS OF THE EVOLUTION EDUCATION TRUST ICONTINUEDI Other inforniatlon The other inlormalion comprises the Infomiation included Sn the Annu81 Report other than the financial stsl8mènts and our AuLlilors' Report Ihereon. The Trusletrs are rasponsible for the other infomiation contained wlthin thè Annual Report. Our opinion on th8 financial stat8ments does not cover the oth8r informallon and. except lo the extent otherwise expliciuy statad in our report, we do not express any fom of assurance conclusion Iheraon. Our respons1.11tY is to read the other information and. In doing so, consid8r whether the other Inlomiation Is rn8lerially inconsistent with the financial s18temenls or our knowledge dytained in the Course of the audit. or olhewsg appears lo be materially mlsslated. If we identsfy such materi81 inconsistencies or apparent materlal rnisststemgnts, we are reqLJired lo detemlng whether thi5 gives rfse lo a materlal mlsst818menl In the flnancial 5tat8ments themselves. If, based on the work we have performed, w8 conclude that there is a mal8rfal misstatemont of this other Inform8tion, we are requlrgd to Tèport that fact. We hava nothlng to raport in this regard. Oplnl¢n ¢n oth•r mattor• pr•s¢rlbed by the Companles Act 2008 In our oplnlon, based on the work undertaken in tho cwrse of the audlt.. the information glven In the Tru8ts8s' R8port for th8 fSnandal year for which tha flnancial slalemenlg are prepared is consistent with the financial slalem8nts. tha Trust8es' Report has been prepared In 8ccordan¢e th 8ppllcable legal requirements. Mattern on whlch we ar• r•qulr•d to rnport by •xcoptlon In the light of our knowledge 8nd underslandlng of the chaTltable company and ils anvironmenl obtained in the course of the audit, we have not Identified malerlal misstatements in the TTU51ees' Rgport. We hav8 nothing to r8port in respect of the following mattws In relatlon to whlch Comp8nl8s Act 2006 requir88 us to report lo you If, In our oplnion.. 8dequale accounllng records have not been kept, or rolums ad8quale for our 8udlt havo not been received from branches not visll8d by us,. or the flnoncial stslemen¢s are not in agreement wlh the accounts'ng Tecords gnd returns; certain disclosures of Truslee3' remunerBtlon specified by law are not made,. or we have not received all the Infornialion and eXplan0On$ we requlre for our audlt.. or the Trustees were not entitled lo prepare the financlal 8lalemenls in accordance with Ihe small cornpanies regime and lako advantage of the small comp3nl&s' exemptSon8 In preparing the Twslee8' Report and from the requlremenl lo preparo a Strategic Report. Responslbllltles of trusteos As explained more fully in the Trustees, Resp(56b111eS Slalement, the Trustee8 {who are also Ihg directors of the charitsbl• company for th8 purposes of cornpany lawl are r8sponsible for the preparation of the fin3ncial 5t8tements and for belng satisfied that they glve a true and fair view, and for such Internal contre4 a8 the Trustees d818rmine is necessary to enabltr the preparation of financial ststements that 8r8 free from m*erial mlsststement, whether due to fraud or error. In preparing the financial statements, thg Trustees are rgsponsible for 8SS8ssing the ch8rftable compan15 ability to conlnue as a going concern, disclosing. as aw)Ilcable. matters related to going concern and using the going concem b3sis of accounb.ng unless the Trustees either intend lo liquidate the charitable company or to cease Page 6
THE EVOLUTION EDUCATIOM TRUST INDEPENDENT AU0oRs. REPORT TO THE MEMBERS OF THE EVOLUTION EDUCATION TRUST ICONTINUEDI operations. or have no reallsUc alt8rnalSve but to do so. Audltorn. re8ponslbllltl¢s for the 8udlt of th• flnanclal statements ChJr objectives 8rg to oblaln r8asonabl8 as5uranc8 about whelh&r the financial gtstemenls as a whole are fr8e from materlal misslal8rnenl, whether due lo fr8UtI or error. and to issue an Audllors. Report that Indud88 our opinion. Rèasonable assuranco is a high level ol 8ssurance, bul is not a guarante8 that an audit conducted in accordance with ISAS IUKI Mll aayS detacl a materfal mI55tstem8nl when 11 exlsts. Mbsslalements can 8rise from fraud or error and are consldered malerfal rf. individu811y or in the aggrogale. they could reasonably ba 8xpectad to inlluence the economic declslons of users taken on the basis of thes8 financlal stat8menl8. Irregularities, induding fraud, arB Instsnces of non-compliance with laws and regulatlons. We design Procedures In line wllh our re8ponsibllllles. oullned abov8, to do18Ct materi81 missl8lemenls in respect of Irregularflie8, Includlng fraud. The exlenl to which our pro¢edur8s are capable of detedng Irregulorflles, Includlng fraud Is detallod below.. Our approach lo identifying and assessing the risks of material misst8twn8nt in re8PeCt of Irregul8rllle8, includir fraud and non-complSancg with laws and regulallons, was as follows.. the enoag8ment partner ensured that the engagemgnl team collectively had the approprlalo comp8ton¢e. capabiliti06 and skills to identify or recognise non-compliance with applicable laws and regulations., we identified the laws and r8gulatsons applicabla to lh8 Company through dlscu$slons wrth dlr•ctors and other monagemenl, 8nd Irorn our commerci81 knovAedge and experlence of the charfty sector,. we focused on specific laws and Tegu18Uon8 vthlch we considered may have a direct mat8ri01 effect on the financSal stalemgnts or the operatlons ol the Company. includlng the Companies Act 2006, taxation legi51afjon and daia ProteOn, antl-brlbery, employmonL envlronmgntsl and health 8ntJ safety leglslatlon: we assossed the exlenl of complionce with the laws and regulation3 Idenlifi8d above through maklng enquiri&$ of m8nagemenl and inspecting lÈg81 correspondence.. Bnd Id8nlMed law5 and r8gul8tlons were communlcaled wllhSn thg audll team regularfy and the team remalned 819rt lo instsnc85 of non•cOml#nce throughout the audiL We a&ryes8ed the suscepllbllty of the Comp8ny'8 financlal s181ements to material ml$8tslement. Includ5ng oblalnlng an understandlng of how fraLKI might occur, by. maklng enquirie5 of manag8m8nt as lo wh8re they COnsr8d thera w88 susceplibillly to fraud, thelr knowledge of actual, susp&ded and allegod fraud,. consldering the Internal rxjntrols in place to mitigate SkS of fraud and non-compllAnce th laws ond regulations., and understanding the design of the Compan18 remuneration PDlldes. To address thé risk of frgud through management bias and override of controls, we- checked for donatlons madè lo related paTties tested loumal entries lo Njenlify unusual transa¢Jons: 85sessed whether judgements and assumptions made in determlning the accounllng estimate8 w8re indicative of potential bias., and investlgaled the rationale behSnd signrficant or unusual transactions. In response to the risk of irregul3ritie5 and nonwcompliance wth laws end regulations. we designed procedure5 P8ge 7
THE EVOLUTION EDUCATIOM TRUST INDEPENDENT AuorroRS' REPORT TO THE MEM8ERS OF THE EVOLUTION EDUCAnON TRUST ICONTINUEDI which included, but wer8 not limited to.. agreelng flnancl81 stslem8nt dlsclosures to undarlying supportyng documentsllon., reading the minutes of meetings of those charged with governance.. onqulring of man8gement as to actual 8nd potential litig8tlon and daims. and reviewing correspondence vlth HMRC. There 8re inherent limkallons Sn our audll procedures descrlbed above. The more removed that law3 and r8gulalions are from flnanci81 transactions, the lèss likely il is that we would become 8w8re of noTrcomplianca. Auditlng standards also lirnll the audit procedure8 required to identify non-¢ompll8nce wth IAWS and regulallons to enquiry of the dlrector5 and other management and the in8pection of regulatory and legal correspondence. If any. Malerlal mlsstalements th81 ar18e due to froud can be harder to detsct than those that arls8 frcffl effor as thoy may involve deliberate concoalmenl or collusion. A further des¢rlptlon of our rgsponsiblllU88 for the oudlt of the Ilnancial slalements Is located on the Flnan¢lal Roporting Councll's wgbsita 8t.. This de8crSption form8 P8rt ol our Auditors. Report. U•• of our r•port Th18 roport Is made solely to the charflable componV$ mernbers, as a body, in accordonce wth Chapter 3 of Part 16 of the Comp8nSes Acl 2006. Our 8udil work has been undartaken so that we mlghl slate to th8 charllable companls members those matters we are requId lo stale to them In 8n Audltors. Repcrt and for no other Purpose. To thg fullest 8xtenl pemitted bylow. we do not accept OT a5sumg re$sIbIlity to anyone other th8n the charitable compony and its members, as a body, lor our 8udil work, for thi8 report, or for the oplnions we have fi)mied. st•ph•n 1sem•n FCA (S•nlor Statutory Audltor) for and on b¥half of sopher + Co LLP Chartered Accountants Statutory Aud6tor8 5 Elstree Gate Elstre8 Way Borehamwcod Hertfordshira WD6 1JD 23 Octthr 2024 P8go 8
THE EVOLUTION EDUCATION TRUST STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 Llnrostrlct•d funds 2024 Total funds 2024 Totsl funds 2023 Income from: Don811ons and legaclos Investm8nls 3,006,417 42.049 3.006.417 42,049 Total Income 3.048,468 3,048,466 Exp•ndlturo on: Charitable act51106.. Grants Events Govamance costs Support o)Bts Am¢ytlsallon of Intsnglble a85ets 914.682 .170 11,168 138,970 4,510 914,682 170 11.168 138,970 4.510 1.381,772 2,542 11,002 118.620 4,S10 Total •xp•ndltur• 1.075,500 1.075.500 1.518,446 N•t M0M•t In fund• 1,972,966 1,972.966 {1,518,4461 R•Gonclllatlon of funds: Totsl funijs brought forward Net movement in funds 840.192 1.972,966 840.192 1,972.960 2,358,638 11,518,446) Total fund* TrIed forward 2,813,158 2,813,158 840.192 The Slalement of Fln8ncial Actlvf(188 Includes all gains and105888 recognised in the year. The not88 on p8ges 12 10 20 fomi p8rt of these fSnancial statements. Page 9
THE EVOLUTION EDVCATION TRUST REGISTERED NUMBER: 0728561S STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2024 2024 2023 Note Flx•d as8•ts Intangible asset Curr•nt a¥set• 10 13,528 18,038 Debtors Cash at bank and In h8nd 8,198 2,803,407 4,010 833,944 2,811.665 837,954 Creditor8'. arnounts falllng due wlhin one 12 112,0351 {15.8001 N•t current a•••ts 2.799,630 822,154 Total n•t a•••t• 2,fj13,158 840,192 Charlty fund• Unr081rlcted funds 2,813,158 840,192 Total fund* 2,813.150 840,192 The antty wa8 enlltled to exempllon from aud51 und8r sedon 477 of the Companies Acl 2¢J)6. The memb8r8 have not required the entlty to obtain an 8udlt lor the year In qu88tlon In Bccordanc8 wllh sacllon 476 of ihe Companlo$ Act 2006. However, an audll Is requlred in accordance wth 5ecllon 144 of thè Charffjes Act 2011. The Twst¢88 acknowledge th•Sr rwnslbilllie8 for cOmplng vAlh th8 r8qUitements of the Act with r8spgct lo accounttng records and pr•parati of fln8ndal 8ts1em8nts. Th8 financial statements have been prepared in gcwrdance wlth the provlglons appl10 to enUJes subject to the small comp8nl¥s rngime. The ffinanual 8ts1ements were approved and aulhodsed for issue by the Truste•s and signed on their behalf by.. M S A Magnay ITru51gel Dale.. 23 October 2024 The notes on pagos 12 to 20 forni p8rt of these financial statements. Page 10
THE EVOLUTION EDUCATION TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from op•ratlng actlvltl•i Nel cash used In OFerabng actlMlieB (Note 15) 1,969,523 11.508.422) Change In ca•h and cash •qulval•nts In the y•ar C88h and cash equfvalents at the beginnbng of th8 yBar 1,969,523 11,508.4221 833.944 2,342,366 Cash •nd u•h •qulv•l•nti at the •nd of th• year 2.803,467 833.944 Thè notes on pages 12 10 20 fomi part of Ih88e flnoncial sthlements P8ge11
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General Infomiatlon The Evolutlon Educatfron Trust Is a prlvate company. limited by guarantee. reglstered in England and Wales. Th8 registered office address is al Htsney Hill House, 20 Honey Hlll, C3mbridge. C83 OBG. Th8 members of the Company are the tnJ8tees named on page 1. In the event of the Company being wound up, the liability In respect of the guarantee is limited to £1 per member of the Company. The Company18 81so a Charlty registsr8d with the Charf(y Commission. Th6 CoMpanS charfty ragistered number is 1137520. The prfndpal of the Charfty 18 10 r8l$e fund8 for the education of Ihe publSc (with partlcular emphasls on SdantS engaged in full lime education) tha scientific principles of evolution. Tho functional and presentslional currency of the Chority is £ Slerflng. AccountSng pollcl•4 2.1 8Jsl• of preparntlon of Ilnanclal •tat•ments The Ilnanclal st8tgmenly hève been prepared In aecordance wlh the Charities SORP IFRS 1021- Accounting And Reporting by Ch8rits'os'. Stalem8nl of Recommendèé Practice ap[Cable to Charte8 preparing thelr accounts in accordance with the Flnonclal Reportlng Standard appllcBble In the UK and Republic of Ireland IFRS 1021 leffe¢tlve 1 Jgnuary 20191, the Flnancial Reporting Stsndgrd appllcablo in the UK 8nd Republlc of Ireland IFRS 102) and the Companies Act 2006. Thg Evoluuon Educati Trust meets the deflnllion of a publSc benefll enllty under FRS 102. As$els and liabilities are inStially recognised 8t historical cost or trBnsaction value unless olh&rwsg Staled in the relevant accounting pollcy. 2.2 Fund accountlng General fvnds are unreslrlct•d funds whlch are available fc¢ u88 at the dIsCreOn of the Trustees In lurtherance of the gen8rBI oblecllves of thg Chartty and whlch have not been d8svJnated for other purposes. Th8 Chanty has no restricted funds. Investment Income, gains and lo$s•s are allocatsd lo the approprlate fund. 2.3 Incomo All income is recojnised once the Ch3rity has entitlement lo the incorna, it Ss probable that ihe Income wlll be recelved and the 8mount of Sncome recelv8ble can be measured reliably. 2.4 Expondlture Expendlturg is recognised once there is a leg81 or Constructive oblig8tbon to transfer enoMiC benefrt to 8 third party. it 15 probable that a transfer of 8conomic b8n8ffits w¢ll be required in setuement and Ihe amount of the obllgalion can be measured reliably. Exponditure is classified by actlvity. The cost5 of each activty arg made up of the total of direct costs and shared costs. including support costs involved in undertaking each 8Ctivty. Direct costs attributabl8 to a slngle acliwty are allocated directly to that actiwty. Shared costs which contribute to more than one actimty and support costs which are not attributable lo a slngle actovity are apportioned between those actiwties on a basis consistent wth the use of resour¢e$. Central sl3ff costs are allocated on the basls of tlme spent, and depreciaOn charges allocated on the ports.on of the asset's use. pa 12
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policleg {contlnuodl 2.4 Expendlturè Icontlnu•dl Expendituré on charitable aCtiVi.e5 is incurr8d on direcuy und8rtaking th8 ath'vilies vknich further the Charttys objectives. as well 8s any asBoclaled support costs. Grants payable are chargèd in the year when the offer Is made except in those cases where th• offeT is condSllonal, such grants belng recognlsed as expenditure when the condlllons attachlng Ore fulfWled. Grants offereii subject to condllions whlch have not been met al the year end are noled a8 commllmgnt, bul not accrued as expenditure. l expgndrture Is Inclusive of Irrecoverable VAT. 2.5 Int•nglbl• as••ts and afflortlsatlon Intangi8 assets are inltlally recognlsed at cost. After rgco9nillon, under the cost model, intangible assets are measured al cost loss any 8ccumulaled amortisation antl any accumulaled Impalrmont losses. Amortlsallon Is provldod on Intanglble gssels 81 ratO8 C8lculatod to wrlts off the cos1 of each os¥et on a straight-llne basls ovar bts expectad useful lire. Arnort15alion 58 prOded on the followng ba81S: Computer softrlare Capllal assets comprise the development ol a database for cros$-funGtlonal InsSghts and reportlng, align8d with best practices for sm811 grant-makers In th& UK. 2.6 Cash at bank and In h•nd 20% Cash al bank and in hand indudes cash and Bhort-term hlghly Ilquid Inve8lm8nts 8 short maturity of three months or les3 from the dale of acquisitSon or opening of the deposit or simllar occount. 17 LSabllltlo• •nd piovlslon• Llablllllos are recognls8d when Ihare Is on ob11gall 8t Iht Statement of Financl81 P051fjon date as result of a past event. It is probable thot a transfèr of economic benefit wlll required in $gttlem8nl, and tho aMJnI of th8 sewemenl cgn b8 estimat•d rel58y. Liabilities are racognised at the amount that the Charity 8ntiapales li will pay lo setue the debt or the amount h has received as advanced payrnenls for the gu¢)ds OT servlce$ it must provlde. ProvSsions are Measur at the be51 egtimale of the amounts requlred to settle the oblvJatlon. Where Ihg gffect of the time value of money is materlal, th8 provision Is based on the wesent valu8 of th088 8mounts. dl$¢ounted at the pre-tax discount rate that refiects the Tisks specrfic to the Ilability. The unwinding of th8 discount bs rocognised in the Statement of Financial Ach'vities as a finance c051. Page 13
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 In¢om• from donations and l•g•cles UnMStrlct•d funds 2024 Total fund 2024 Total funds 2023 Dat)nS 3,006,417 3,006.417 In¥•stment Incom• Unmtrl¢t•d funds 2024 Totsl fund¥ 2024 Total funds 2023 Bonk Inlarèst rac8lvable 42,049 42.049 Analy•l• of gran1¥ Grants to In•tltution• 2024 Total fund• 2024 Gran18 to UK rogistered Charl86 UnlversSty of Bath Unlverslty College London Manthester Melropolltan Unlverslty Imperial Cdlege London Grow2Know CIC 511.858 185.929 55,000 27,89S 100,000 34,000 511,858 185,929 55,000 27,895 100.000 34,000 Total 2024 914.682 914.082 Page 14
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analys1• of grants {conllnuedl Grants to Insts'lution$ 2023 Total fund$ 2023 Grants to UK reglslereé ch8ritie5 Monche51er Melropolhan Unlversliy Univer81ty of Bath Imperlal College London 1,040.605 6,340 234,827 100,000 1.040,605 6.340 234,827 100,000 Totsl 2023 1.381.772 1.381.772 Support ¢t* Unrn•trlcted fund• 2024 Tot•1 fund• 2024 Profe981onal and consultsncy c08ts Wages and salarles G•ner81 operation COBts Bonk Gh4rge6 70,092 53,276 12,636 2,966 70.092 53,276 12,636 2,966 138,970 138.970 Unrastdcted funds 2023 Total fvnds 2023 Profosslon818nd consultancy costs Wages and 8al8rias General op8r8tion costs Bank charges 59,867 42,368 14.385 2.000 59.867 42,368 14,385 2,000 118,620 118,820 Page 15
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Audltors. r•muneratlon 2024 2023 Fees payable to the Charitys auditor for the audit of the Charitys annual accounts B.360 4,824 Staff ¢o•ts 2024 2023 Ways and $818rle8 53,276 42,368 The avorage number of persons employed by the Charty during the year was as follows: 2024 2023 Trustees Operallon 8taff No employee recglv8d remuneratlon 8mounUng to rnore than £60,000 In 8llh8r yBar. Tru•t••8' Mmun•ratlon and •xponse• Ourlng the year, no Trustees recelved 8ny remuneratlon ty other nefIts{2023- £NILI. DurirvJ thtt year ended 31 M8rch 2024, r)0 Trustee oxpenses hav8 bean Incurred12023- £NILI. Page 16
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Intan9lble a88•t8 Comput•r softwaro Cost At 1 April 2023 At 31 Marth 2024 22,548 Amortlsatlon At 1 Aprfl 2023 Charge for the year 4,510 4,510 Al 31 March 2024 9,020 Not book valu• Al 31 M8rth 2024 13.528 Al 31 March 2023 18,038 11. D•btor• 2024 2023 Prepayments and grad income 8,198 4.010 12. Credltorn: Amount• falllng due wlthln one year 2024 2023 Trade credltor8 Accru818 and deferred inrne 438 11.597 579 15,221 12.035 15.800 P8ge 17
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Summary ol lund8 Summary of funds. curr•nt y•ar B¥l•ne• jt 31 March 2024 Balance al 1 April 2023 Income Expendlture General funds 840.192 3.048.466 11.075.$001 2,813.158 Summary ot lund•- wSor y•ar Balance at 31 March 2023 8alonce at 1 April 2022 Expendltur8 Gener91 funds 2,358,638 11,518,446) 840.192 14, Anoly$l8 of n•t a#$•t• b•tw••n fund• Analy#l• of not a•••t• b•tw••n fund•. current p•rlod Unr••trlet•d funds 2024 Tot•1 funds 2024 Intangible fixed assets Current assets Credltors tluo wlthln one ar 13,528 2,811,665 {12,035) 13.528 2,811.665 112.0351 Total 2.813,158 2,813.158 Analy$l• of n•t aM•ts b•tw••n fund* . prlor period Unr8$tri¢t#d lunds 2023 Totsl fvnds 2023 Intangible fixed assets Current assets Credllors due within one year 18.038 837,954 {15,800} 18,038 837.954 115.8001 Total 840.192 840,192 Page18
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. RKonclllatlon of n•t movem•nt In lunds to n•t cash flow from op•r•tlng acti¥itl• 2024 2023 Net incomglexpendlture for the perfod las per Ststement of Financial Activitie81 1,972,980 11,518.4461 AdJutmant* for: Amortisation chBrges Increasa In dgblors IDecr085e)Ancrease kn crodltors 4.510 (4.188) (3,7651 4,510 14211 5,935 N•t ¢a•h provld•d byllused Inl op•ratlng •ctlvltl•• 1,969.523 11,508.4221 16. Anal18 of ca•h and ca•h •qulvahnti 2024 2023 Cash and c88h equSvalenls 2,803,467 833,944 17. Analyslj of ¢hang•• In n•t d•bt At 1 Aprll 2023 CaBh flows At 31 March 2024 Cash al bank and In han 833.944 1,969,523 2,803,467 Page 19
THE EVOLUTION EDUCATION TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Grant commltm•nts At 31 March 2024 the charlty had the fdlowlng commltments.. Commitments in respect of grants opproved %thich have not been accrued In th8 flnanclal ststements but will fomi part of grants.. 2024 2023 Within one year one and tsvo years 347,248 160,390 507,638 The Chority intends to make tha above grant conlrfbutlons In the n8xl years. Slgned ogreemonts vAth the gront Reclplenls are In p18ce whlch commrt th8 Charity lo those donallons. However, the R8clplents 8cc8pl that the Charlty may be obllged to reduce, cancel or defer 8ny scheduled paym8nt8 In the event of unexpected alleralion in the Charitys financbal Circumstance or, If in the oplnlon of thé Charity. there has been rnl&management or m1s8pproprl80n of fundo. Pagg 20