Charity Reg15tratlon No. 1145669 Company Reglstration No. 07886294 {England and Wales) NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT AND CONSOLIDATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
NATIONAL NUMERACY (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Perdita Fraser (Chair) Paul Coffey Catherine Mcclu Graham Kentston-cooper Chris Linton Catherine PaulsoTrEnis Sandra Wallace CBE John B811 (appointed 23 June 20251 Mary Gregory (appoinbj 23 June 2025) Karolina Joynathsing (appointed 23 June 2025) Dipesh Patel (appointed 23 June 2025) Chlef Execullve Samuel Sims Charfty number 1145669 Company number 07886294 Regislorad offlce & prfn¢ipal address Unit 19 Sussex Innovation Cent scien Park Square Brighton BNI 9SB Auditors TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Su$$ex BN44 3TN Maln bank8rs Virgin Money Virgin Money Store 170 North Street Brighton BN1 1EA
NATIONAL NUMERACY (LIMITED BY GUARANTEE) CONTENTS Page Truslees, report 1-11 Statement of trustees, responsiblities 12 Report of the Independent AuditcKs 13-16 Consolidaled statement of financial activtties 17 Consolidated baance sheet 18 Charty balance sheet 19 Consolidated cash ffow statement 20 Notes to the accounts 2143
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustses of Nath?nal Numeracy are pleased to preSrt their report together with the auditsd financial 81atements of the charttable company for the year 1 January 2024 to 31 Decemb8r 2024. The trustees confirm that Ihe Annual Report and Financlal Ststements ofthe company comply with the current statutory requirements, the requirements of the Company's goveming document and the provisions of Ihe Statement of Recommended Pr8ctice (SORP). applicable lo charities preparing their accounts in accordance wlth the Financial Rèporting standard appli&gble in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019} as amended by Update Bulletin 1 (effective 1 January 2019). Since the C¢)mpany and the group qualifies a5 small under section 383, the strategic report required of medium and larye companies under The Companies Act 2006 {Strategic report and Directorfs Report) Regulations 2013 is not rewired. A message from our CEO and Chair of Trustees There were many definlng moments in 2024- a Labour tandslide in a snap election, volatile global events. and not least the remarkable achievements of prominent and rernaikable women. Rachel Reeves made history as the fiT5t female chanlor. while Taylor Swlft captivated the world with her record- breaking wodd tour. At Nationa5 Numeracy. the theme of women resonat8d strongly in our work, exetnplified by ourgender themed Number confiden Week, th8 announcements of actor and Loose Women star Denise Welch and world-renowned p5ythologist Dr Linda Papadopoulos as our latest ambassadors and the launch of the G8nder Taskforce. Then, in November. we were honoured to host Rt Hon Brldget Phillipson al the House of Commons lo launch our new strategy. The Secretary of State spoke passionatety about dosing the gender gap In numeraGy. reaffinning the govemmenfs clMitment to tackling this critical issue. 2024 was also a year of growth. Our community of advoth- Numeracy Champions and volunteers- expanded significantty. Through our partnershlp with The Lord Mayors Appeal. we celebrated th8 training of an impressive 328 champ)nS in London alone. Our COrate volunteering programme reached an exlraordinary 17,619 children, providing crucial support for numeracy skills. Meanwhile. media coverage of our campaigns grew by 57Yo in 2024, resulting in 604 media mentions compared to 384 the previous year. We also made strides with successfully launching our Schools & Families Programme. In just three months. the programme engaged over 3.OCrf) individuals. highlighting the transformative power of collaboration betsveen schools. parents, and c2rers in buikling children's confidenGe in maths. R8flecting on a year filled milestones, partnerships and progress, we are proud of National Numeracy's rose in empowering indivlduals and creatir¥J a more Nmerale s(lety. Together. we are making a lasting difference. Sam Slms. CEO and Perdita Fraser. Chair Objectives and activltles The UK 15 in the grip of a numeracy crBis. Around halt of work-age peoFle have the numeracy skills of a primary sthool child and not getbng on wtih numbers blight5 live5 and livelihoods, contributing to pervasive problems from unemployment to pTr)r health and debt. National Numeracy has a vision for everyone in the UK to get on numbers so they can get on in life. Our mission Is to 8mpower people to thrive by using numeracy to open up opportunits'es and access brighter fvtures, targeting communities where the need is gatest
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The objectives of the charity are therefore to promote education the publrc benefft in mathernatics and numeracy. The policies and activities adopted in furtherance of these objects are set out in thls report. and include engaging the public, s¢h¢)ols and organisations with numeracy through our natnal campaigns, working with schools to support children, families and educators to feel more posthve about maths and délivering adult numeracy support through the Multiply Initiative and olher tsrgeted projects. The trustees have paid due r8gard to guidance on public benefft issued by the Charity Commission li deciding what activtties the charity should undertake. In 2024. we delwered acttvity against a stralegic framework that is now fomiali5ed in our n8w four-year Strategy for 2025 - 2028, focused on the The Big Changes we want to see: han e 1- Numerac for E uali Numeracy improvement driwng social mobilty and gender equality. Everyone has the opportunity to develop numerw throughout life, regardless of SOCK)*conomic background or gender. Chan e 2- Numerac for Success A posrtive attrtude to maths in the UK from cradle to career. All of soclety understands the value thal numeracy can brfng io Iheir lives, has the cL)nfidence to thrlve and holds the belief that we can all get on with number5. Chan e3-Numer forcommunl Communities empowered by number confidence. Communtknes are molivated. empowered and supported to improve numeracy at the I21 lev81. creating opportunities throughoui the Irve5 of local people. Our fvll strategy is available on our website, https".Ilwww.nationalnumeracy.org.uklabout-us#strategy. Performance and achievements Numerdc forE uali Sooo-economic background is the strongest prethctor of numeracy levels in the UK. wtlh gaps emerging 8arly and persisting for liftr-hindering social mobiliiy. Low numeracy limits access to work and increases vulnerability to debt and unemployment. particularfy impacting women and girls due to a persistent number confidence gap. In 2024. National Numeracy supported thousands of people in improving their skills, tackling inequalty and creating opportuntties. Number Confid n Week the Gender Edition Our Number Confidence Week carnpaign. backejj by Founding Supp¢xter TP ICAP. and Lead Supporters Barclays Lifeskills. Capital One, Experian. EY. The Lord Mayorfs Appeal and Vanquis Banking Group. addressed the 'gender number Gonfidence gap.. The campaign inspired people to take 193.067 actions towards improving number confidence, almost double the number of last years campaign. The campaign shared inspirational real-life slories. provided taliored resource5, and sparked honest conversations, particulatty with the help of new National Numeracy Ambassador. TV star Denise Welch.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Parlla ion The S8cretary of State for Education. Brfdget Phillipson. backed National Numeracy's strategy to drive social mobility and gender equalty through improved numeracy at a Parliamentsry Reption in November 2024, hosted by The Rt Hon. the Lord Blunkett on behalf of National NumeraGy and klrKIty supported by DLA Piper. Gender Taskforc8 Launched on Intemational Women'5 Day 2024 and chaired ty Capital One UK CEO LuGy-Marfe Hagues MBE, the Taskforce aims to help employers address gendei-based number confidence gaps. Research shows 599/0 of women (vs. 210k of men) r8POrt earnings loss due to lack of a Level 2 maths qualificati. The Taskforce organisations include Capital One UK. Barclays. Experian. EY. The Lord Mayofs Appeal, Maths4Girls, Mumsnet and Gransnet, National Numeracy. NHS England, OINer Wman, Scottish Wdows, TP ICAP and Vanquis Banking Group. Its recomrfftndations for employers V1] be launched to coincide with International Women's Day 2025. Drfvin ocial mobil- Ihrou h National Nu Our flagship campaign. National Numeracy Day shin8s a light on numeracy as a driver of soclal mobility. It wants the value and benefits of belng able to use numeraoy in everyday lrfe to be well understood in Ihe U K and for people to be inspired to take their first steps towards improved numeracy. Everyone can aesS our resources, but our priority is supporting people with Icw number o)nfidence or numeracy skius in communiles where the need is grealest. That's why we took National Numeracy Day 2024 on the road, visiting some of the UK arèas of higher need, like Wigan. which is in the 86th percentile for numeracy needs In the country. Our vibrant Rap & Poety Slam event Inspired children in partnership Tlmes Tables Rock Stars and NuTnBots from Maths Clrcle. Thanks to Founding Supporter KPMG arwj Lead Supporter5 AWS, BarGlays LlfeSki115, Bloomberg, Capital One, Experian, Kartesia, The Lord Mayovs Appeal. S&P Global. TP ICAP. Ufi VocT6ch Trust and Vanquis Banking Group. Numorac for Success Volunteerin En nt in 2024 Our programme helps supports children from lower soci¢xconomic backgrounds. WI on average fall ten months behind their peers in maths by age 11. Volunteers ather d61iver an assembly all about thelr experience with maths, or assist with a teacher-led session on 'maths in the real worfd.. This helps children understsnd th8 value of numbers, which in tum can help build number confidenrR- the strongest predictor of skills improvement- and a posltive attitude towards maths, which promotes fvrther leaming and a growth mindset. In 2024. our corporate volunteering programme en2bd 120 volunteers from partner oTganisations to deliver impactful sessions to over17,CiIO children- significantly exceeding ourtarget of13,(KIO- across over100 schools, 58D/c¢ of which were In high-need areas. In total we Irained 162 volunteers. against an annual target for 2024 of 129 volunteers. g4Vo of surveyed leachers sald the sessions inspired children to see Ihe value of maths beyond Ihe classroom. Buildin mera Confidence in the Workfor We deepened our work wth NHS England. tralnlng over 200 new Numeracy Champions in 2024- brfnging the totsl to over 500. These Champions support their colleagues with low number confidence. using our CPD- accredited training.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 With the Departrnent fDr Work and Pensions (DWP). 61 staff trained as Champions under the 'Ev8ry Londoner Counts, initiative, helping claimants manage money, improve job prospects. and overcome maths anxiety. Shiflin Attitudes Maths In partnership with Mumsnet, we explored inter-gener8tional maths anxlety. 41Yo of parents recalled heartng "I'm not good at malh$° from their molhers. vlth 35Yo admitting to repeating such comments themselves. The findings highllght the Importance of FK)Sitive attitudes to break the cycle of maths anxiety. chools & Families Pro mmeL unch Launched in 2024, this lar9e-scale iniliative builds number Confiden in school staff, parents and carers, especially in areas of high need. We set out with a targel to recruit and onboard 40 s¢hools to the new programme in Summer 2024 and a further 50 schools in Autumn 2024. We were 17 schools short across the first two cohorts due to challenges with schools not responding after being offered a place or subsequently dropping out, but recruited an extra 13 schools in the Spring 2025 cohort to make up most of the gap. We have also put In place fneasures to reduce the risk of this happening with future cohorts. In 2024, the programme engaged: 73 primary schools 124 Numeracy Champions {99% reported licreased confjdence) 3.000+ individuals through Family Maths Toolkit actlvitiès 1.025 children through volunteer-led sessions 289 parents and carers through "Help Your Child Love Maths!" workshops 38Yo of pupils involved were eligible for free school meals (vs. 24.3% national average), underlining our focus on mMUn[lieS mosl in need. ntal En ement Pr ramme EP act 2024 marked the successful conclusion of PEP, reaching over 1,000 pupils and over 550 parents across 26 schools In key areas, such as Nottingham. Manchester. and North Ayrshire. We thank our funders for supporting this impactful work. National Nurnera Da A record 8.933 education settings took part in Nalional Numeracy Day, with nearly 650,000 actions to support numeracy t8ken. With partners including the Royal Astronomical Society and Numbetl)locks. our "Numbers in Space. theme sparked enthusiasm for everyday maths among previously disengaged 18amers - 46C/¢D of whom had been relUant to engage with numbers. Num•rac lor Communi Eve Londoner Counts As 2024 drew to a close, so did our amazing three-year partnership with The Lord Mayof s Appeal. a stellar example of how targeted, communty-driven intepientions can make numeracy accessible to diverse populations. Our 'Every Londoner Counts, initiattve has had a transfOalIVe impact across the cty. It addressed the urgenl issue of low numeracy, which affects 58% of adult Londoners - around 3.5 million people.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 In 2024, we trained 328 Numeracy Champions, meaning th over the course of the initiative we tralned 548 Numeracy Champions across all London boroughs. exc8eding our target of 500. The partnership empowèred volunteers to support indlvlduals in irry)roving their maths skills. building cOnffiden, and enhanclng employabilty. Multi conn8Ctions commun Meanwhile. Multiply entered ils third arKJ ffinal year li 2024. The Departm8nt for EdLKation initialive aims to help adults across the UK who do not have a GCSE gradè C14 malhs qualification or have low numeracy. improve their numeracy, confidence, and skills. National Numeracy worked wlh local authorities on their Multipty adult numeracy programmes. connecting with many local CAimmunities. As a major part of our offèr. we set out to train in excess of 500 local communlty Numeracy Champions- who offer support to people in the communty with l¢)w numeracy- to overcome barriers and anxieties about numbers and data. We comfortably exceeded Ihis tsrget. ilored eve for local residents This year, National Numeracy Day 2024 had an even bigger community focus. ensuring we reathed those with greatest need in their own communttles, settings and spa- both in person and online. Tower Hamlets Coundl h)sted over 3C(I local residents and adult leamers in numeracy-related actrvities, ranging from crafting to gardening. th 'number natters. and National NuMecY Challénge quick- checks. Reachin areas of hi h need 2024 saw Experian and National Numeracy workFng in partnership to launch an exciting numeracy project in Nottingham and the East Midlands. We SUesSfullY trained 31 Numeracy Champions across various organisations. building a network of support across the East Midlands to improve career opportunlties and financial health in the region. According to the UK Numeracy Index- a model that predicts and rank5 areas of the UK by numeracy skills and confidence - of the 12 regions of the UK, the Easl Midlands ranks sixth. Indicating that it is a region of higher numeracy need. Some areas wilhin the East Midlands are of high numeracy need, such as Nottingham, which is In the 99th percentile. We have placed Numeracy Champions in key communty louchpoints induding Si Barnabas Hospic8 BEAM cafe (Buildlng En9agem8nt Around Mental Health). the Dyslexia Association and Ignite Futures. The champions have direct contact with residents who benefrt greatty from the 'attitudinal approach, we embed in our Numeracy Champion programme. that supports number c0nfml&n, neurodiversty and maths anxiety. I lusi sslbll On Natlonal Numeracy Day. we hosted our firstver communlty Big Number Naller session in Nottinghamshire wÉth Arnbassador Bobby Seagull, the Dyslexla Association. local Numeracy Champions, the Financial Resilience Partnership, and Experian volunteers. Numeracy Champions from the Dyslexia Assodation shared th8ir joumeys and the impact of neurodiversity on number confidence, how childhood experien can shape mindsets and bellefs. and the importance of building financlal resilience al a young age. Our campaign resources also discussed neurodiversity and maths, with a series of Big Number Natters. DyscalGulia was the topic for videos, induding National Numeracy Ambassador lona Bain sharing her own story with thè lèaming difficulty- W8 also explored the link belyieen ADHD and numbers in a Big Number Natter with tsvo National Numeracy employees talking about their experiences.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Meanwhlle, we held a Big Number Natter with Performing Arts sbjdents from Oerwen College, a specialist colleg6 ft)r young adults with special education needs and disabilities. to discuss how maths ffts into their work and lives. And. for the first time. we translated our key campalgn resources into Welsh - a vital move in ensurlng inclusivity and strengthening communty engagement. Whal's next7 Numerac forE uali In 2025, we will be launching the findings of the Gender Taskforce Group, a significant milestone in our ongoing commitment lo equty and inclusion. This body of work will provide valuable insights ar)d recommendations that will shape and strengthen our efforts to reduce inequa.ties. wilh a partlcular focus on improving outcomes for women. We will also conlinue to drive change throu9h our National Numeracy Day and Number ConfKlen¢e Week ampaigns. National Numeracy Day 2025 will be themed as the 'Money Edition. and focused on financial educalion. inclusion and wellbeing. Numerac lor Success We are committed to expanding the Schools & Families prograrnme in 2025. With funding partnerships we will be onboarding schools in new regions and increasin9 our reach in exisling ones. We are also developing a new 'Feeling Better about Maths, workshop to help participants refflect on their relattonshlp wtth maths, encourage open discussion aboul their feelings towards maths, remove barriers lo improving numeracy and mctNale them to begin their leaming joumey. This workshop will be offered as part of the Schools & Families programme and we will also be exploring opportunltles for tts use in other conlexts. And through Ihe volunteeriry programme we will continue to deliver impacttul 5esslons in primaty schools. Numerac for Co muni 2025 will mark the end of the Multip]y programme and we will ¢ontinue to deliver our adult numeracy supporl across local authoTities until it Gomes to a close in the swing. With the end of both this and th8 Every Londoner Counts Initiative, we go into 2025 looking to find new funding and opportunities to continue to delNer ourworkplac8 and communty numeracy support for adults. Through our partnership with Experian, we will be contiwing our numeracy support project in the East Midlands. and launching a second project in Glasgow. We are aiming io trarj at least 25 numeracy champions in ea region.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 structure, governance and management National Numeraw is a ¢ompary limited by guarant8e which was established on 19 December 2011 and governed by Its Artides of Association. It was registered as a L*arity on 30 January 2012. The trustees. who were also the directors forthe purpose of company law, and who served during the 2024 period were: Perdlta Fraser, Chair Andrew Haldane, Vlce£hair (retired 20 June 2025) Edward Brunel-cohen. Honorary Tteasurer {retir8d 7 July 2025) Catherine Mcclure Paul Coffey Chris Linton Graham Keniston Cooper Catherine Paulson-Ellis Hiten Patel (retired 20 June 2025) Sherry Coutu (retired 20 June 2025) Sandra Wallace The trustees have full reSpCsIblIty for all legal and financial matlers. Any additions to Ihe membership of the trustees folSows invitatlon ty the Board of Truslees after due consideration. All the trustees give of their time freely and none of the trustees has any beneficial inlerèst in the company. All the trustees ar8 members of the Gompany and guarantee to contribute £1 in th& event of a winding up. Trustees are required to disclose all relevant interests. Details of trust8e expenses and related paty transactlons are dlsclosed in a note to the accounts. New trustees are provided with a thorough briefirKJ before their knltlal board meeting and are given a Gopy of National NUmeraCS Trustee Handbook. which ouuines the complete induction process. along with the relevant Charity Commission guldelines for trustees. Organlsatlonal matters The work of National Num8racy, inclutfing Ihat of Ihe wholly owned trading subsidiary National Numeracy Solutions Ltd, is overseen by the Board of Trustees, which met five times during 2024, four times belng the ordinary trustee meetlngs, one time being an extra strategy session. Day to day management is delegated to the CEO and the senior leadership team. The Nomlnations CommTttee (a sub-committee of the Board) also met regularly to consider senior appointments and matters of SUcSsion and to review the composhbon of the Board. There were no changes lo the make-up of Ihe board during 2024. Perdlts Fraser agreed lo seNe a further term as the Chair, wtth Catherine Mcclure and Paul Coffey also agreeing to another term. A recruitment process commenced at the end of 2024 to replace outgoing truslees in 2025. A trustee has been designated for both GDPR and safeguarding to offer SUPF)Ort and ensure the board is reassured of ¢ompiiance In these critical areas. Over the course 012024 staffing levels redud, Tn part due to natural altrition and the decision nol to replace certain roles in anti¢ipatlon of funding streams ending in 2025 and the resulting shift in organisational focus. At the end of 2024 National Numeracy had 34 staff rneMbe on payroll. In line with the charty's remuneratlon policy and In accordance with the Stalement of Recommended Practice (SORP). National NumeraGy discloses all payments to trustees {no trustees receive 'pay'), discbses the number of staff in receipt of more than £60,000 and above (in band5 of £10.000), and discloses pensions and other benefits.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Chief Exe¢utNe and Iwstees review the salaries of staff annually, in accordan wlth the charity's remuneration policy. The trustees also detemiine pensron arrangements. In addrtion, the Nominations Committee advises on the salary of the CEO. for decision by the board. No d)anges were made to the board of National Numeracy Solutions Ltd (the trading subsidiary) in 2024. The Directors mel separately times in 2024. As an independent charity V•ryth a social mission, National Numeracy is passionately committed to. and constantly reviewing and improving, its Environmental. Social and Governan standards. Our charitable work also helps meet our partners. own ESG goals. National Numeracy's ESG measures include, bLrt are not limited to: Environmental We are committed to protecting the environment through sustainabte prx1ices, with an environmental sustainabilty policy in our staff handl)ook. Programme materials are provided digtsity, reducing print and paper costs. Sustainable sources sought for matketing materia15 and used fumilure and equipment 15 recycled. Training programme5 are delivered online where posslble. and publtc transport used for travel when necessary. Our office on the Unfversty of Sussex 'Green Campus. is accessible by bus, rail and cycle paths. soal We are committed to the Fair Work First criteria. and we are a Real Living Wage employer. Fair and equttable workplace measures include an independent annual anonymous employee survey. We have an adive staff Equalty, Diversty and Inclusion group and mandated EDI training. We have a team of trained mental health first alders. We offer flexible working to help reduce halerS that may disproportionately affect women and contribute to the gender pay gap. Govemance We have a gender-balanced govemance structure: 50% of the Leadership Group are women. We commit to operating th integrity. embodying our 'core fouff values. Our new finance policies and system ensure transparency and best value from suppllers. We op6rate a regularty reviewed risk register. Our dedicated GDPR Group wcfks with extemal experts to ensure security of our data. Flnanclal Rovlew a. Finance and fundlng The charfty's growth and incr8ased impad in 2024 Yre fuelled by a remarkable and expanding network of support8rs and partners. all united by a shared commitment to tackling the issue of low numeracy. We were grateful for the crucial and often contlnuing support of organisalions such as Barclays, the Barratt Foundation, Bloomberg, Capital One. CISI Future Foundation, Cty & Guilds, Experian, EY, th8 Garfield Weston Foundation, Kartesia. KPMG, LSEG Foundation. NHS England. S&P Global. Squarepoint Foundation, Squire Patton Boggs Charitable Foundation, TP ICAP, The Lord Mayoff s Appeal and Vanquis Banking Group, amongst others. These supporters made vital financial contributions to fund our campaigns, programmes and projects. as W811 as Ihe overall impact of the charity.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 In addition, we received fantastic pro bono and in-kind supportlo delver a number of Grilical and strategic projects from organisations such as Amazon & AWS. Google, BGO. BCG. Capital One. Experian. KPMG, McKinsey and Oliver Wman. As well as reIving support from corporates. trusts and foundations we continued to expand our parthership with local comMunes. Local Authorites we worked with as part of the Muttipty project fvnded by th8 Department of Educatlon included" Surr8y County Counc41 Bristol Cty Coundl Wiltshire Council Brighton & Hove ljvarwckshire County Councl In total we worked with 30 dtfferent Local Authorities and organisations Multiply-funded projects In 2024. This has enabled us to train hundreds of Numeracy Champions and, with their help, raise awareness and support their communities with improved number confidence and sknlls. Consolidated incorne in 2024 was £2.175,513, with the charty making a deficit of £111,397. This was a favourable result compared to the planned defictt budget and we are expecling to return lo making a surplus In 2025. The charity's tradlng subsidiary, National Numefacy Solutions Ltd, made a loss In the year of £37,109. However, when the donation of the previous yearfs profits to the parent char1 is excluded. the profrt for donation from 2024 is £46.310. We entered 2025 with a degr8e of financial unc8rtainty as several key furKling streams that had supported the charity to dale were set to expire. We were however confident in our abilty to secure alternative funding source5 in the long term and were aclivety exploring new partnerships. grant opportunities. and innovative fundraising initiatives Ihat would ensure the charity's continued impact and growth in the years ahead. We have already seen some fruit to this Sabour and our first income forecast for the year is exceeding our original budget. We have secured mUYar agreements with a few new funders that also guarantee income in 2026 and 2027 and helps towards our longer-term sustainabilty. Our strategic focus remains on diverslfying revènue streams to create a more sustainable and resilEnt financial foundation. and we are optimistic about the fijture and comm51ted to maintsinlng our mission-driven work and we are satisfiéd that the charity remains a going concem. b. Rlsk assessment The trustees have regularfy assessed the major risks to which the charity is exposed and malntained a detailed rfsk register during 2024. Thé risk register was regularly rewewed by a dedicated Inlemal Risk Committee comprised of key slaff members. Through the review. the committee also undertook to restructure the register itself according to eight overarching risk areas cover9 compliance. putatiOn, operations, digital technology. impa< programme delivery, people and finance and funding. The committee consider the appropriate level and accompanying scoring for ongoing risks. taking into consideration both likelihood and potential impact of each risk at the current time, as well as mitigating actions taken and planned. The committee also consider and rewew new and emerging risks, and vthether any previousty identified risks are re501ved or no longer relèvant Key areas for discussion in 2024 included= Futur8 funding - managed by close monitoring of funding pipeline. apptying for multi-year (unding and explorfng new funding opportunities for when the Muttipty programme ends.
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Over reliance on external ccMtra¢toTs in dwjitsl technology- managed by working with external CTO to d{Ument kèy system5 and products. Key person rlsk - man4ed by increaslng efforts towards a more dispersed approach to responslbilities and developing successlon plans. External financial consideralions, surh as Nl contrtiutions increasing- managed by mantaining suitable r8serves levels. Trustegs are sallsfied that systems are in place lo mitigats exposure to the major risks. c. Ro8erves The trustees of National Numeracy recognise the need for reserves lo cr8ate a suslainable organisation into the future. In particular. we seek to maintain key charitable activities, mainlain funds to insure against variations in income due to the uncertain nature of funding sources and the uneven profjle of income throughout the year, as well as to enable us to fund planned specific inveslments future development as necessary to support our stralegy. Therefore. the reserves calculations take into consideralion: The cost of key ongoing charitable aclivities, chiefy the National Numeracy challènge Cash flow buffer of approximately four months of additional expendtiure Any key rFsk factors A calculaled suslainability sum which would effectively all for restructuring or closure Giving consideration to all ofthese factors. a target rangefor unrestitted reserves has b@en calculated at between £550,000 and £600,000. This figure represents a decrease on the year before due to the lower level of activity expected in 2025 Ythen the Multiply programme comes to an end. The target reserves calculation is reviewed annually, and current levels are reviewed against targets on a quarterly basis within trustee meeting papers. The trustees are designating £175.009 of unrestricted reserves to protect the delivery of commltted prole¢ts in 2025, specifically our Schools & Families Programme and delivery of our key publlc campaigns. The remaining unrestricted free reserves posftion at 3111212024 is therefore £610,757. This is slightly in exces$ of the target position but is considered acceptsble given kjnger-term income uncertainties. At 31 December 2024, restricted funds of £122.668 were held. d. Investment Pollcy As well as operating ac£ounts, National Nufneracy also maintains both instant access deposit accounls and long8r-term deposit accounts in order to provide interest on funds received. The Hon. Treasurer and relevant staff meet regularly to assess the best investment Options available to maximise use of funds. Investment decisions need to be agreed ty the Head of Finance. the Hon. Treasurer and the CEO. Due lo the need for relatively short-lemi access to funds. long-terni options are not available and there is a low- risk policy approach to investment options to safeguard charitsble funds. Therefore. National Numeracy invests its financk?I reserves prudentty and subject to the regular review. National Numeracy owns no property. Th6 poliry and approach is monitored and reviewed as part of the annual budgeting Cyc. io
NATIONAL NUMERACY (LIMITED BY GUARANTEE) TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 e. Fundralsing National Nurneracy's fvndralsing ts carried out predominantty by IhOUse fundraisers employed dire¢tty by the arity. The Gharitys approach (excluding the operation of the trading subsidiary) is primarily to seek grants and donations from charities. tnjsts and corporate partners. In 2024 National NumeraGy was also a charty partner of The Lard Mayorfs Appeal. which raises appeal donations for distribution to its chartty partners. The Lord Mayofs Appeal is a charity registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. National Numera¢y Is registered with Ihe Fundraislng Regulator. We are committed to meeting best practice fundraising standards, following all relevant guidelines and adhering to the Code of Fundraising Practice. We place the needs and ¢onslderations of our supporters ffirsl en 5t comes to our fundraising actmties, and we ensure that fundraisers adhere to our practices. wilh parficular attention paid to vulnerable people. No complaints relating to fundraising were receNed in 2024. Approv8d by the board of trustees on ..23109r2025.. and signed on bts behalf by Perdita Fraser TnJste8 (Chair) li
NATIONAL NUMERACY (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The tNstees. who are also the directors of Nalional Numeracy forthe purpose of company law. ar8 responslble for preparing the Trustees. Report and the accounts in accordance with aPpIable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Pradice), including Financial Reporting Standard 102 'The Financial Reporting Standard for Ihe UK and Republic of Ireland,. Company law requires the trustees to prepare accounts for each financial year whlth give a true and fair view of the stste of affairs of the tharity and of the incoming resources and application of resources, includlng the incorne and expenditure, of the charitable company for that year. In preparing these accounts, the trustees are re(wired to: - select suitsble accounung policies and Ihen appty them consistenliy" - observe the methods and prinaples in the Charifies. SORP: - make judgements and estimates that are reasonable and prudent" and prepar8 the accounts on the going c(mcttn basis unles5 it is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting cOrdS that disclose wlth reasonable accuracy al any time the financial position oflhe charity and enable them to ensure that the accounts compty with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe prevention and detsciion of fraud arKI other iegUlarities. 12
NATIONAL NUMERACY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF NATIONAL NUMERACY Opinion Wé have audrted the finanaal statemeTts of National Numerdcy (the parent th•itabie company,) and Ns SUbslary ('the group'l for the year ended 31 CMber 2024 whith comprise the Ststement of Finanoal ActIeS, the consolidated and tharity Balan Sheet4 the Cashflow Statement and notes to the financ4al statements, induding a summary of significant a¢countiro poliaes. The finanaal reportin9 framework that has been aPpld in their preparation is applicable law and United lfjngyom Aco)unting Stsndards, indJIng Finan¢xl Reporting Standard 102 The Finanaal Reporbng Standard applicable th8 UK and Republ of Ireland (United lfjngdom Generally Accepted AccountiTrJ Prackn). In our opinion, Ihe finanoal slatements.. gNe a true arKI fairview ofthe stats ofthegroup's and the parent tharitable company's affair5 as at 31 December 2024 and of its incoming resouros and application of resources for the year then ended". have been propety ptepared in accordan wth United lQngdom Gen8ralty knepted AOUnting Practits.. arKJ have been prepared in accordanc£ with r4u7ments oflhe CcAnpanies Act 26. Basis for opinlon We nduded our alit in accordan wilh International StaNJards Audit1 (UK) IISAS (UK)) and applicable law. Our responsibilities unthr those standards are fuTlher desuted in the Auditorfs responsi1lItieS for the audit of the finanaal statfjments section of our reporL We ar8 indeperKlent of the chaiitable company in accordan with the ethical requiremenls that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entiiies, and we have fulfilled our other ethical re5pon%bilities in accordance wilh these requirements. We trAieve that the autht eviden have obts1j is sufrient and appropriate to provide a basis for our opinion. Conclu$lons relating to going concern In auditing the financial slatements, we have concluded Ihat the trustees. use of the going conrn basis of accounting in the preparation of the finanual ststemerts is appropriate. Based on the work we have perfOed, we have not identified any mateiial UnrtaInlieS relating to events or condilions that. individually or colle¢tivety, may cast doubt on Ihe charTtable companys ability to ca)ntinue as a going cOnM for a pericKI of at least tsvelve months from when the financial statements are authorised for issue. Our responsibiltlies and the tesponsibilitss of the Intee$ wth tesFect to going are describod in the levant sections of this report. Other Infornmtlon The other infomation Compris Ihe infonnalion induded in the annual report induding the Irustses. report. other than Ihe financial ststements a1 ourauditorfs report thereon. The trustees are responsible for the olher infomiation. Our (yinion on the finanaal slatents does not cover Ihe other infotmation and. expt to the extent 0th8rwse explictuy stated in our report. we do not express any form of assuran condusion thereon. In connection vAth our audil of the finanrial Statents, our responsibilty isto read the otrer inforrnation and, in doing so, consider whelher Ihe other infomation is materially inconsistent with the financial statements or our knowled98 obtain&Y in the audrt or otreThvi5e appears to be materially misstated. If identify such material InrlStenc1es or apparent material misstslements, we are requir&l to deternine whether Ihere is a material mi5Statement in the finanaal ststements or a material misstalemenl of the other information. If. bas&Y on the work VR have perfomd, we Condude that there is a matsrial misstatement of this other infomiation, VE are required to report that fa We have nothiry to report in this ward. 13
NATIONAL NUMERACY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR (CONTINUED) TO THE MEMBERS OF NATIONAL NUMERACY Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion. based on the wotk undertaken in the course ofthe audit". the infomiation grven in th& trustees, report which indudes the dire(ots' report prepared lor the PUTposes of mpany law, forlhe finanaal year fDrvthic Ihe finaTr2al statements prepared is consistenl ¥Mth the finanaal stalemenls" and the directors. report duded within the truslees. report has ten pPare1 in a(xxirdano wth applicable legal requiremenls. Matters on whlch we are required to rewt by exception In the light of the knoW£dge aThJ underdtanding of the parent tharilable cxJnparFy and group and it$ environment obtained in the oflhe audit. have not ijentified material misstatements in the direthrs. report induded wthin the trustses, report. We have nolhing lo report in peG ofthe fotlowng matters in relation to which the Companies Acl 2006 requirels) us to report to you if, in our opinion- adequate and proper accwrrting records have not been kepL or retums adequate for our audit have not been retsived from branches nol visited by us," or the finanaal statements are not in agreennt with the a¢countiNJ records and retums" or certain disclosLwes of trustees, remuneration speafied by law are not made.. or we have not re1V&1 all the infomiaion aThJ explanaticS we require for our aLBY¢ or the trustees were rt elltiued to prepare the financ4al statements in accotrlants with the small companies regime and lake advantage ofthe small o)mpanies' exemptions in preparing the trustees, report and from the requirement to prepare a strategic rewrt. Responsibllltte5 of trustees As explained more knlly in the trustees. tesponsbi Ii ilies statement, the truslees (Ntho are also the directo of the charifable company for the PUTPOSes of company lawl are responsible for the preparation of the financial statsmenls and for being satisfied that Ihey give a true and fair view, and for such inlwnal ntrol as the trustees determine is neSSary lo enable the preparabon of fThncia ststem8nts Ihat are from material misslalemenL ether due to frdud or error. In preparing the finanaal slatements. the Iwstees are responsible for assessing the company's ability to (Xjntinue as a going conrn. dis¢losing, as applicable, matters related to going COnM and using the going conrn basis of accounting unless the tnjstees ther intend to IiquKlat8 the ca)mpany or lo ase operations, or have no realists'¢ altemth.ve bul to do so. Auditorf$ Trsponsiblllttes for the audlt of the financial ststsments Our objectives are to oblain reasonable assu¥an about vthether Ihe financial statements a$ a whole are free from material misslatemert whether due to fraud or error. and to issue an auditorfs report that indudes our opinion. Reasonable assuran is 8 high level olassurance. but is not a guarantee that an audit cOndted in aCrdan with ISAS {UK) wtll always detect 8 m*rial mtsstatement when it exists. MisstatentS can arise from fraud orer[ and a considerEd material rf, individually or in the aggregate, they Could reasonably te expecle(I to Influen the economic deasions OfuSe taken on the basis ofthese financial statement5. Irregularities. induding fraud, are Instan of non-compliance with laws and regulations. The extent to which our proTrdures are capable of deteding irregularities, indlIng fraud, is detailed below. 14
NATIONAL NUMERACY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDITOR (CONTINUED) TO THE MEMBERS OF NATIONAL NUMERACY Extsnt to which the audltwas considfrred Capable of dotscling inEgularilies. Includlng trdud The objectives of our audit, in respecl to fraud. are: to wjentify 2nd assess Ihe risks of material misstslement of the financial statement5 due to fraud". to obtain sufficient appropriats audrf( e¥thn regarding Ihe assessed risks of material misstatement due to fraud, thrOh designing and llmpl6nnting appropriale responses., and to respond appropriatety to fraud or SU5Fected fraud identified during audit However, the primary pOnsfo111ty for the prèvention and dthon offraud rests with both thJ8e d)argad with governan ofthe enlity arKI ts management Our approach vms as follows: We identified areas of laws and regulabons that could reasonably te eyperted to have a materia effeca on the financial ststernerts from our general sedor expaience. and through discusgK)n vthh the Intee$ and olher management las required by auditing standar(Ls), and dIsc$sed wth the tnjstees and other managementthe policies and procedures regarfyvj Wp118n wilh laws and r8gulatKJns (see belrhvl; We identifEd the following areas as lh( most lely to have such an effect.. health and safety" General Data Prote¢Xion Regulation {GDPR}: fraud" bribery and comiption" and employment lav4. Auditing stsndards limit the required audrt Procedures to identify non-0)rlIan with these law& and r8gulat'on5 to enquiry of the trustees and other management and inspedion of Trgulatory and legal o)rrespondence, rf any. The i(Jentird aciual or Spected non-complian was sufficienlly significant to our auit to result in our response being identsfied as a key audrt matter. W8 considered the legal and regulatory framewo$ thredly applicable to Ihe f6nane4al statements repting framewoth (FRS 102. the Companies Aot2t)J6 and the CharitiesAct 2011) and the relevant mplIan regulations in Ihe UK- We conside1 Ihe natute ofthe thaiitable cJ)mpany and group's operations. Ihe control enVInMent and finanLxal perfomiarKe. We communicated identifted laws and regulationsthroughout rteaM a1 remain&1 alertto any indications of non-C(Ynpl1an Ihroughout the audit. We nSiderEd the proUS and o)ntrds that the charitable Djmpany has estsblished to address risks identsfied, or that otherwise prevenc deter aTKi detect tra. a1 how senior management monitors those procedures and controls. Based on this understanding we designed our audit prDce(lures to ijenbfy non-0)mplian with sh 18ws and regulations. Whére the r was considered to be higher, we rfOrmed audit proureS to athress each identified fraud risk. These pr(lureS induded: testing manual joumals" revwiro the finanaal statement disdosures and testing to supporting documentation" FerfOlng anatytical procedures.. and enquiiing of management, end were designed to provide reasonable assuran that the financial stalements were free from fraud or error. ("ng to the inherent limitations ofan audit, there is an unaVoable risk thatV+E may nol havedetected some material misstatements in the ffinancial stalemerrt5, even though we have properfy planned and perfomed our audrf( in accordance wth audibng s12ndards. For example, the fijrther removed nonmplIance wth law5 arKi regulations (irregularities) is from the events and transaclions r8flectgJ in Ihe finanoal statements, the less likely the inherently limited PTocgfjures required by auditing standards would idenbfy it. The risk is also greater ardIng irregularities ocCU1ng due Éo fraud rather than error, as fraud inVoe$ intents.onal ConalMent. forgery. collusion, omission or misrepresentation. We a not responsible for preventirvJ nonacunplian and rAnnot be expected lo detect non- mpliance Vth all laws and regulations. A fvrther description of our responsibiltbes forthe audli of the finanaal statements is located on Ihe Financaal Repoi*ng Council's website al: v4ww.fit.org.ukJauditorsresponsibilities. This deripti0Th forns part of OLf auditof5 report. 15
NATIONAL NUMERACY (LIMITED BY GUARANTEE) REPORT OF THE INDEPENDENT AUDrroR (CONTINUED) TO THE MEMBERS OF NATIONAL NUMERACY Use of our report This report 18 made solely to the charitsble ¢ompary's membe. as a boo*, in actotdance with Chapter 3 of Part 16 of the Companies Aci 26. Our audit work has been undertaken so that we might state to the charitable campany's members those matters we are quired to state to them in an auditors, report and for no other purpose. To the fullest extent pemiittwj by law, we do not 8pt or assume responsibility to anyone other than the charrtable company and its members as a b. for our audit work, ft)r this rewrt. or for the opinions we have fonned. Mr Mark Cummins FCCA (Senior Statutory Auditor) for and on bèhalf of TC Group Slatutory Audltor Office.. Sussex 16
NATIONAL NUMERACY (LIMITED BY GUARANTEE) CONSOLIDATED STATEMEKf OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024 Unr88trfcted Designated Re6tr1ctsd funds funds funds Tolal 2024 Total 2023 In ome Notes Donations and legaaes Charilable actiwilies other trading activitTes'. Comrnerc4al trading operations Investr)ents OLher income 1.176,390 635,892 187,517 1,363,907 60.284 686.176 1,704,322 531,601 105.069 15.852 102 106,069 18.189 2.172 164",619 28,217 6,678 2.337 2,070 Total income 1.933,305 242,208 2,175,513 2,435,437 re on: Raising fund5 Commercial trading OFerations and 8e¢uring voluntsry in¢ome Charitsble securing activtties 300,631 1.581,850 300.631 248,889 1.986,279 259,327 2.296,916 156,540 Total expenditurn 1,882.481 155.540 248,889 2,286.910 2,556,243 Net incomel(expenditure) for the Year 50,824 I15540 (6.681) {111,397) (120.806) Transfers between fiJnds 18M9 (168.187) 175,010 16,823) Net movemènt In funds 1117,363 19.470 113,504) 1111,397 (120,806) Fund balance$ at 1 January 2024 728,120 155.539 136,172 1,019,831 1.140,637 Fund balances at31 December 2024 610.757 175,009 122.668 908A34 1,019,831 The Statement of Financial Activities also ¢omplies wilh the r8]uiremenls for an inc£Jme and expenditure a¢xount under thè Companies Act 2006. All ath"vitie8 are classified as continung. There are no recognised gains or losses other than those reported on the Ststement of Finanal ActNities. The notes on pages 21 to 33 fo part of these acxxjunts. Induded in Ihe above is a defiot of £74.288 to Ihe parent charity Naliona] Numeracy (2023: £164.4151. 17
NATIONAL NUMERACY (LIMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET AS A T31 DECEMBER 2024 2024 2023 Flxed assèts Tangible assets 12 Current assets Deblor5 Cash al bank and in hand 14 399,468 732,960 629,549 770.216 Cr@dltors.' amounts fallkng due within one yoar 1,132,428 1.399,765 15 (223,994) (379,934) Net Cunt assets 908.434 1,019,831 Net asséts 908,434 1.01 g,831 Income funds Restri¢ted funds General funds- Designated General lunds- Unrestricted 18 122.668 17S.009 610,757 136,172 155,539 728,120 19 908,434 1,019.831 The financral statements have teen prepared in accordan wth the special provisions of Part 15 of the Companies Act 2006. The notes on pages 2110 33 fomi part of these acUnt$. The Bccounts were approved by the Board on ...2310912025 . and sjgned on its behalfby Perdita Frasér Trustee (Chair) Company Registrdtion No. 07886294 (England and Wales) 18
NATIONAL NUMERACY (LIMITED BY GUARANTEE) CHARITY BALANCE SHEEr AS A T31 DECEMBER 2024 2024 2023 Noles Fixed assets Investments Tangible assets 13 12 Current assols DebtOTS Cash at bank and in hand 14 371,455 666,798 557.270 570.510 1.038.253 1,127,7 Creditor5: amounts falllng dué WTthin one year 16 (189.683) (204,922) Net current assets 848,670 922,858 Net assets 848.571 g22,859 Income funds Restricted funds General funds- Designated General funds- Unrestricted 18 122.668 175,009 550,894 136,172 155,539 631.148 19 848,571 922,859 The financial statements have beén pPar] in accordan 7Mth the specia provisions of Part 15 of the Companies Act 2006. The notes on pages 22 to 34 fom) part of these attounts. The acctunts were approved by the Board on ...2310912025... and sNJned on its behalfby Perdlta Fraser Trustee (Chair) Company Registrallon No. 07886294 (England and Wales) 19
NATIONAL NUMERACY (LIMITED BY GUARANTEE) CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash flows from operating actlvrties Net incomellexpenditure) Invesknent income Depreciation {De¢rea5e}l increase in creditors (Incr8ase)Idecrease in debtor8 (111,39n {18,189) 1120.806) {28,217) 140 93.117 12 15 14 {155,940 Net cash provided by operatlng activltles 165,445) 112.9851 Cash ftohvs from investing activlues Investsnent income 18,189 28.217 Net cash provided by Investlng activities 18,189 28.217 Chang8 In cash and cash equivalents in the reporting period {37.266) 15,232 Cash and cash equlvalents atthe beginnlng ofthe year 770.216 754,984 Cash and cash equlvalents atthe end of the year 732.960 770 216 01.01.2024 Cash flow 31.12.2024 Cash at bank and in hand 770.216 37,256 732.960 20
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ststuiory inforniatlon National Numeracy is a tharitable Mpany. lim11j by guarantee. registered in ErwJland and Wales. The charitable company's registsred number and registered Offi address be found on the Legal and Administrative infonatIon page. Accounting pollcles 2.1 Basis of preparation The finanaal ststsments have been prepared in a(tordance with Attountirvj and Reporting by Charities: Statsment of Reo)mmended PraCts. applicabl• to tharities preparing their aOUnts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) (2019) - Charities SORP (FRS102) and the Companies Act 2006. The ffinanc4al statements a prepared in sterling.. which is the thnctional cencY of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. National Numeracy rneels the definiiion of a public banefft entity under FRS102. Assets and liabilities are initially recognised at historical cos1 or transaction value untess otherwse slated in the relevant accounting policy note(s}. There are no material UnrtaInthes about National Numeracy's ability lo continue as a going conm. 2.2 Group financlal statemonts Thes8 finanaal ststements consolidate the resums of the charity and its OllY ovmed subsidiary National Numeracy Solutions Limited. A separate Statement of Financi81 Acb"vthes, or income and expenditure account, for the tharTty itself is not presented because the charity has tsken advantage of Ihe exemptions afforded by section 408 of the Cotr4)anies Act 2(K)6. 2.3 Golng concern After making appropiiate enquiries. the trustees have a reasonable expectation that Ihe charTty (and its subsidiary) has adequate resoUrS lo conts.nue in opeptional existen for the foreseeable fvture. For this reason they continue to adopl the going co basis in preparing the finanaal statements. 2A Income All income is included in the Statementof Financial Activities when the charity is legally entitled to the income, the amount ¢an be quantified with reasonable aCcU¢Y and receipt is probable. Grant in(xJme 18 reccgnised when the chafity gains entilem8nt to the income. Contract income is recognised when th8 ¢haiity gains ents"tlernent income. Donations and gifts are recognised when re1Vable. Inveslment income is COgniSed wh8n receIvle. Trading income is recxjgnised at the fair value of the consideration reIved or receivable for goods and services provided in the nomial course of business ar#J is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade disenunts, settlement discounts and volume rebates. 21
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting Policles (continued) 2A Expenditur• Expenditure is recognised On Ihere is a legal or constwthve obligation to transfer economic benefit to a third party, it is probable thal a transfer of economic benefits will be required in setuement and the amourrt of the obligalion can be measured reliably. Expenditure is classlfied by activity. The costs of ea(t activity are made up of the total direct costs and shared costs. induding support ¢osts inVoed in undertaknng each acb"vity. Direct costs attttbutsble lo a single acaivity are allocated to that activity. Shared costs which ¢ontribule to more than one activity and support St$ which are not altributable to a single activty are apportioned betrn those activibes on a basis consistent with the use of resour. Central staff costs are allocated on the basis oftime spent and depreci'on tharges allocated on the portion of the asseys use. Cost ol raising fvnds [prise the costs of commercial trading their associat8d support costs and the costs ofsecuring voluntary inme. Support costs are those costs incurred in SLPPOrt of expenditure on the objects ofthe tharity Chatitable expllure compiTses those costs inCrred by the chaTty in the delNery of rts activities. 11 includes both costs that can be allocated directly to such aclivrties and those costs of an indirect nature necessary to support the activities ofthe thanty. 2.6 Tangible fixed a8s8ts Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairmènt losses. Additions on individual items in eXsS of £2,)0 induding irrecoverable VAT are ¢apitali$ed. Depreaation is recogni1 so as to write off the c(Jst or valuab.on of assets less their residual values over their useful lives on the following bases.- offi equipment- 3 years straight line. The gain or loss arising on the disposal of an asset is detemiined as the difference between the sales prOedS and the carrying value of the asset, and is recognised in net incomel{expendfturel for the year. 2.7 Investments Ftxed asset investments are a fomi of financial irtstrument and are initially recognised at their transaction ¢ost and subsequently measured at fair value at the balan sheet date, unless fair value cannot be m6asured reliably in which case it is measured at cost less Thpairnent. Investment gainsosseS are taken to the Statement of Financial Actrvities when incurred. Debtors Trade and olher debtors are recogntsed at the settlement amount due after any trade discount offered. Prepayments a valued at the amounl prepaid net of any trade discounls due. 2.9 Cash at bank and in hand Cash al bank and in hand are basi¢financ4al instruments and indude cash and short and medium tsrm highly liquid invastments. The trustees seek to use short and medium te dep051ts Whe possible to maximise the relum on monies held atthe bank and to manage flow. Bank overdrafts are shown within borrowings in current liabilities. 2.10 Creditors and provisSons Creditors and provisions are rgnised where the chality has a present OblatIon resulling from a past event that wll probably result in the transfer of fuThJ8 to a third party and the amount due to settle the obligation can be measured or estimated reliably. 22
NATIONAL NUMERACY
(LIMITED BY GUARANTEE)
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting Poli¢les
(contlnued)
2.11 Pensions
The charity operates a defined contribLrtion nsiOn scheme and the pension chanJe represents the
amounts payable by the charity to the fund in respect of the year.
2.12 Accumulated fund8
Unrestricted generdl funds comprise thos8 amounts recaved for use at th8 discyetion of the trustees in the
rtherance of the general objecaives of the charity.
Reslricted funds are subjectto spe¢kfiocondits'ons imposed by
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Income from investlng actlvllies Unrestricted funds Designated funds Restricted funds Total 2024 Total 2023 Inleregt re1vab 15.852 2,337 18.189 28.217 15,852 2.337 18,189 28,217 Other Income Unrestricted funds Designated funds Restrlcted funds Total 2024 Total 2023 Olher income 1fY2 2.070 2,172 6,678 102 2,070 2.172 6,678 Expendlture Stsff Dep'n tosts Other Total Total 2023 costs costs 2024 Costs of ralslng funds Direct lundraising Support costs (see note 8) 167.576 9,902 76,077 47,077 243,652 56,979 221,883 37.444 177.4TI Charltable a¢tivities Activities undertake dIrelY Support costs (see note 8) 123,154 300,631 259,327 1,098,266 464,298 I62,$64 1.488,549 2S1.688 172,027 423.715 808,367 1.349.954 636,325 1,986.279 2,296.916 Totsl expenditure 1,627A31 759.479 2.286,910 2,556,243 ExpendTrture indudes £291,788 of pro bono services (2023: £508.074). 24
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs 2024 2023 Staff o)sts Website & marf(eting TravelSing and subsistents expenses Rent & ratss Office expenses Legal & professional other other taxes and social security Governan costs {nole 9) 237,976 326,763 2,822 6,967 39,341 67,154 355,091 11,100 5.281 31,312 12.592 26,711 56,389 89,033 10,807 12,912 35.274 480.694 845,811 Support Costs inclLKle amounts paid to Ihe auditors in respert of audit fees totallirYJ £11,329 (2023". £12,102). Governance costs 2024 2023 Auditols remuneration Trustees, expenses Staff costs 11A29 331 23,814 12,102 437 18,T13 35,274 31,312 25
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 10 Consolldated statemenl of fInaTrclal activities comparalive funds- 31 December 2023 Unrestricted Designated funds funds Restricted nds Total 2023 Incomè from: Donations and legactes Charitable a¢tivi1ies Other Irading activities.. Commeraal trading operations Investments Other income 1,431.822 382.612 272,500 148,989 1,704.322 531,601 164,619 24.859 6.678 164,619 28,217 6,678 3.358 Total income 2,010,590 424.847 2,435,437 enditure on: Commercial trading OFerations Charitable activities 259,327 1.683.622 259,327 2,296,916 92.432 520.862 Totsl expenditure 1,942.949 92.432 520,862 2,556,243 Net Incomel(expendilurel forthe yearl not movement in funds Transfers between funds 67.641 (92.432) (96,015) 1120,8C61 {37,0181 20.971 16,iJ47 Net movement in funds 30,623 (T1.4611 (79,968) (120,8061 Fund balances at 1 January 2023 Fund balances at 31 Decembgr 2023 697.497 227.000 216.140 1,140.637 728.120 155.539 136,172 1,019,831 26
NATIONAL NUMERACY (LIMITED BY GUARAKfEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 Staff costs 2024 2023 Wages and salaries Soaal security costs Crth6r pension costs 1,314.316 136,039 77.076 1,182.615 113,897 69.398 1,627,431 1,365,910 The average number of [eOn$ employed by the group was 37 (2023: 35). Included in the above staff costs are total costs of £1,499.715 (20Z6: £1,333,975) relating to the parenl charity National NumeraGy. The number of employees whose anwal emoluments vRre £60.000 or mor8 were: 2024 2023 £90,000-£99.999 During the year ended 31 Dember 2024 empktyerfs Fension costs in respect of highly paid staff totalied £5,610 (2023. £5.521). The key management personnel of the charity nsiSt oflhe leadership group. Their total remuneration for the year was £302,979 {2023: £297,614). 12 Tangible fixod assets - Group and Charfty Offic• equlpmont Total Cost At 1 January 2024 1724 2,724 At 31 Dmber 2024 2,724 2,724 Depraclalion and ImPairnnt At 1 January 2024 Charge 2,724 1724 At 31 December 2024 2.724 2.724 Net book value At 31 December 2024 At 31 Dember 2023 27
NATIONAL NUMERACY {LIMITED BY GUARANTEE} NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 13 Flxed asset investments Investrnent held by parent in subsidlary: Charity National Numeracy Solutions Limited Holdlngs of Ma than 20% The charity holds more than 20% of the share capital ofthe folltming companies.. Company County of registration or incorporation Shares held 8ub81dlary vndertaking8 National Numeracy Soluttons Limited Class UK Ordinary 100 Natlonal Numeracy Solutions Limlted National Numeracy Solutions Limited is a wholty-owned trading &)mpany, cth)pany number 08700221 is incDrpordted in England & Wales. The CoMpanS registered address is Unit 19 Sussex Innovation Centre, scien Park Square, Brighton, England, BN19SB. The principal activikn.es ofthe company are Ihe supply of services aimed at improving numeracy as well as licensing fees for the use of National Numeiacy logos and branding in (x)nnection with sponsorship. A summary of th6 trading results of the subsidiary las included in the Statement of Finanaal Acbvits"e$) is shown below. Summary profit and loss account 2024 2023 Turnover Cost of Sales Administrative Expenses Interest received Taxation and inte&t 105,069 (31,292) 1113.026) 2,393 (2S3) 164,619 (42,444) (15,462) 1,712 {4,8161 Net profiV(10ss} fc tha year Sumrnary balance sheet 137,109) 43,609 The assets and liabilrties of subsidiary were: Current assets Creditors.. amounts fallin9 due sthin one year Total net asSets1sha capital and reseNes 2024 2023 134,305 (74,442 280.862 (183,8901 96,972 59.863 28
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 14 Debtors Group Charfty 2024 2023 2024 2023 Trade débtors Amounts ow&J by group undertakings Prepayments and accrued income other debtors 70215 243,588 48.135 163,500 8,876 376,595 8,299 323,428 5,825 377.662 8,299 317,496 5,825 391468 629,549 371,455 557.270 16 Creditors: amounts falling due wlthin one year Group Charity 2024 2023 2024 2023 Trade Creditors Arnounts owed lo group undertakiros Taxatt"on and social security other creditors Aocruals and deferred income 15.728 31.767 15,728 40.130 40.004 18,153 75,668 31,767 4351 58.153 106,522 77,201 60.033 210,933 54,304 20,032 98,819 223,994 379,934 189,683 204.922 Deferred incxime relatss to £62.367 (2023". £57.200) in re8ct ofthe tharity and £27.937 (2023: £104,073) in re3pe¢t of the trading subsidry. An analysis of movements in the year is indud8d below. 2024 2023 Deferred income as at 01 January 2024 Income recognised in the year Income deferred during the year 161,273 1161,273) 90,304 48,785 {48,785) 161,273 Deferred income at 31 De(Ember 2024 90,304 161,273 29
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 16 Controlling party The charity is a cornpany limited by guaranlee and therefore wthout share capital. No one member has overall control of the charity. The IiabilTrty of eath memb8r is limited lo £1, being the amount that each member undertgkes to contribule to the assets of the charity in the event of its being wound up. 17 Trustees None of the trustees (or any pelsons connected wilh them} receNed any remuneratton during the year. Tre charity paid travel costs on behalf of hvo12023.' 0) trustees totallin9 £331 {2023: £437). 30
NATIONAL NUMERACY (LIMITED BY GUARAKfEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 18 Restricted funds The income fijnds of the charity indude restricted funds CMPTI$lftg the following unexpended balaft of donations and grants held on trust for specific puoses. Movement In fund5 Inme Expenditure Trdnsfern Balance at 31 Dec 2024 Balance at 1 Jan 2024 Ufl- Numeracy Champions in the wotkpla National Numera¢y Day Parenlal Engagement Programme Schools & Famllies Programme Supportlng children's numeracy Events Intem Local Authorftles- inprovirwJ adult numeracy (843) 22,578 (22.578) (23,513) (10,340) (39,813) 9,604 (36,000) (4,439) (2.070) (120,476) 33.853 140.712 110,503 26.598 21.567 12,165 4,439 2,070 75.078 50.842 15,4441 136,172 242,208 {248,889) (6.8231 122,668 Restricted fijnds.. Ufi - Numera¢y Champions in the workpla Funding to develop the impac* of Numeracy Champions in their OanIsationS bèyond the initial training and establish a Theork of Champions aryoss the UK. This project ended in 2024 and the small surolus fvnds were transferred into unrestricted funds as the fvnder did not require them to be retumed. National NumeTa¢y Day Funding from a nurrl)er of orgarisatsons lo support National Numeracy Day. Parental Engagèment Project Funding from John Lyons Charity, Garfield Weston Foundation and CISI for a parental engagemènt project in primary schools. The project ended in mid-2024 wilh a small surplus for each funder. The John Lyons Charity sury)lus was transferred into unkncted furNJs as the fiJnd8r did not require them to b8 retumed. The Garfleld Weslon Foundation and CISI surpluses We transferred to Ihe new Schools & Families Programme that they are continuing to fvnd, Éo aid yth the development and set up of the new programme. Schools & Families Programme Funding from a variety of fiJnder5 to run the National Numeracy Schools & Families Programme in primary Schools across the UK an extension of the old Parental Engagernenl Programm8. Surplus funds from the Parenlal Engagement Prr)jed were transferred into this restriGted fund from two key fuTKlers as dèscribed above. Supporting ¢hildren's numoracy Funding from a few fvnders SFEcifj¢ally to support thildren and young peOe with their numeracy. Events Funding from a few corporate partners to cover the c05t of key th&ity everrts 31
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 18 Re8tr1cted fund$ (continued Intern Funding from the Universty of Sussex to host a career lab intem. Lo¢al authorities - Improving adult numeracy Grant fvnding to improve adult llumeracy through the Multiply programme. Surplus funds artsing on one LA grant We IransfetTed to unreslticted fvnds to cover costs incurred by Nalional Numeracy on delivery for the same LA in a subwuent year where delays to the C4)ntract meant the charity took on the risk of costs for a period. 19 Designated funds The trustees have decAded to designate the below fijnds for specific purposes.. Movement in funds Income Expenditure Transfer8 Balance at 31 Dèc 2024 Balan¢e at 1 Jan 2024 Parental Engagement Project Schools & Families Progrdmme Campaign Delivery 20,039 (20,039) 42,009 133,CM)1 42,009 133,000 135.500 (135.501) 155.539 (155,540) 175,010 175,009 Parental Engagement Project Funds were historically designated at the end of each year as required to complete Committed activity in the following year. The Parental Engagement Project ended in mid-2024. Schoo15 & Famlllés Programme The ¢harity'$ new Schools & Families Programme COTnrnend in 2024. At the end of the year, funds were designated to ensure completion of committed delivery in clusters of schools that are funded from unrestricted donations. Campaign Delivery Funds are designaled at the end of each year to deliver campaign activities as agreed with external partners. These fiJnds are drawn down on the following year when the National Numera¢y Day and Number Confidence Week campaigns take pla, and funds are then designated again from unrestricted fijnds as required for the nexi year. 32
NATIONAL NUMERACY (LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 20 Analysls of net assets between funds Unrestrfcted fund8 Designated funds Restricted funds Total Fund balances at 31 Dec psented by: Current assets Creditors: amounts falling due within one year mb8r 2024 are 833.101 175,009 124.318 1.132,428 (222.344) (1,650> (223,994) 610,757 175,009 122.668 908.434 Unrestrictsd funds Desi9nated funds Restrlctod funds Totsl Fund nces at 31 December 2023 are presented by: Current assets Creditors: amounts falling due within one year 1.104,758 155.539 139,468 1,399.765 (376,638) (3,296) {379,9341 n8,120 155.639 136,172 1,019,831 21 Pension commitments The company operates a definetj contribution pension scheme. The assets of the scheffle are held separately from those of the company in an independenuy administered fund. The pension cost char9e represents contributions payable by Ihe company to the fund. Contribulions totalling £9.598 were payable to the fund at the year*nd (2023: £9.374). 22 Retsd party trdnsactlong The transfer agreement contract entered into wth NMP in 2013 was continued. No repayments w8re made during the year so the creditor balan at Ihe yearend of £40,000 {2023'. £40,000} remains. Th8 charity has tsken advanlage of Ihe exemption. under the tems of Finanrial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland,, not lo disdose related party transactions wilh wholly owned subsidiaries withii the group. Details of trustee expense reimbursements are induded in note 17. 33