## First Steps Nutrition Trust 

Charity Registration No. 1146408 

Report and Unaudited Financial Statements Year ended 31 July 2025 



First Steps Nutrition Trust 

||Page|
|---|---|
|Reference and Administrative Details|1|
|Report of the Trustees|2 to 9|
|Independent Examiner's Report|10|
|Statement of Financial Activities|11|
|Balance Sheet|12|
|Notes to the Financial Statements|13 to 18|





## First Steps Nutrition Trust 

Status: Charity registration no.: 1146408 The Charity's governing document is its Constitution dated 15 March 2012 Registered Office: Studio 2.16 The Food Exchange New Covent Garden Market London SW8 5EL Executive Director V Sibson Trustees: Corina-Maria Campian (appointed on 20/04/2026) F V Cox (resigned 31 January 2025) Gabrielle Owtram Ellen Dicicco Dr Marko Kerac Dr Vicky Thomas Robert Percival Marjon Willers Bankers: The Co-operative Bank Head Office PO Box 101 1 Balloon Street Manchester M60 4EP Independent examiner: Shruti Soni Ltd Chartered Certified Accountants 117A St. John's Hill Sevenoaks TN13 3PE 

1 



First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
The trustees present thei r report with the financial statements of the charity for the year ended 31
July 2025.
The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of I reland IFRS 1021 leffective I
January 20191.
TRUSTEES OF THE CHARrtY
The trustees of the charitable unincorporated organisation I'the charity,) serving during the year
and since the year end were as follows
F V Cox (resigned 31 January 20251
Corina-maria Campian (appointed on 20 April 20261
E Diccico
Dr M Kerac
G Owtram
R Percival Ichairl
Dr V Thomas
M Willers
Objectives
The charity's objectives are the advancement of health for the benefit of the public through the
provision of information and resources to support better nutritional health, focusing on the period
from pre-conception to 5 years. To advance the education of the public through evidence-based
research and the dissemination of information about good nutrition, focusing on the period from
pre-conception to S year5.
Actlvltles and Key achlevements In 2024125
Firsi Steps Nutrition Trusi persists in very effectively maintain ing its position as the expert
independent voice on early years nutrition in the UK. We continue to provide conflict of intere5t-
free, expert, practical resources on eating well from preconception to age 5 to professionals
working with families and families themselves, and to support them in other ways including
through maintenance of the www.infantmilkinfo.org webslte, provision of training5 and webinars,
and answering queries. We a150 contin ue to effectively influence policies to better enable pregnant
and breasrfeeding women to eat well and parents and carers of babies and young children to feed
them healthy diets.

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
As a result of concerted fundraising efforts, our income went up again in 202412 5, and efficient
expenditure continues to support the highly productive work of our small team.
Below are some more specific highlights of First Steps Nutrition Trust's policy and practice work in
the reporting year. Impact reports for both 2024 and 202 5 are also available at
www.firstste
5nutrition.or
Pollcy hlghllghts
During 202412025..
o We inf luenced the release and content of new composition and marketing guidelines for the
baby food industry. A peer reviewed narrative review on commercial baby foods that we wrote was
cited within the guidelines. We were invited to comment on the baby food guidelines on BBC
Breakfast News live. BBC Radio 4 Today programme live and on other radio stations as well as in
the print press.
We influenced and informed the update of NHS guidance on feeding babies, to advise
minimising shop-bought baby foods
A Guardian 'long read, on commercial baby foods led ro our work being raised in the
House of Lords and our Director featured in the Panorama 'The Truth about Baby Food Pouches,.
Our work on commercial baby foods contributed to a 15% decline in sales of wet baby foods.
Our work to Stop the national roll out of a Danone-funded infant feeding support service
was recognised in the Britlsh Medical Journal's annual impact report.
We published I I policy briefings, statements and infographics shaping early years nutrition
policy and practice.
We influenced the DHSC and devolved nations to commit to address formula company
marketing.
We prepared and submitted 6 responses to Government consultations, and influence of
peer organi5ations' responses.
We published an FAQ on formula provision by food banks endorsed by the 2 national food
bank organi5ations, resulting in an end to media calls on the Same.
We supported revival of the All-Party Parliamentary Grou p on Infant Feeding under a new
chair.

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
We were sought out by the Department of Health and Social Care and the Department for
the Environ ment, Food and Rural Affairs for expert input e.g. on emergency preparedness for
families who use formula.
Our infant formula price monitoring led to a price freeze by Aldi.
The value of our policy work 15 exemplified by these quotes from key stakeholder5'.
-1 would like to finish [this adjournment debate on infant feeding in the House of Commons] by
thanking all those tireless acrivisrs and campaigners who have been fighting for all women to have
support. guidance and rrusred informarion when rhey begin tnotherhood.. a special thank you
goes to.. First Sreps Nurrition Trusr"
Jess Brown-Fuller, MP and chair of the All-Party
Parliamentary Group on Infant Feeding
'First Steps Nutrition Trust s work has been instrumental in informing work around reformulation
and marketing of commercial baby foods in the UK and Europe" Dr Gundo Aurel Weiler, Director,
Prevention and Health Promotion, WHO Europe.
'1 would like to express the Scottish Government's appreciations of the important work being done
by Firsr Steps Nurrition Trust and the Baby Feeding Law Group-UK to support infant 2nd maternal
health in advocaring forpolicies rhat protect families from commercial influence... Your pricing
data and insights are valuable. and we will ensure they are considered as part of ongoing po/iry
disCUS5ions... Thank you again for your continued engagement and advocacy"_ Jenni Minto,
Minister for Public Health and Women's Health, Scottish Government
Practice highlights
During 202412025..
We saw 17.2K downloads of our 13 PDF 'Eating Well, guides, which were also signposted by
the prestigious medical journal. the Lancet.
We had 239K unique visitors to our First Steps website and 23K active users of our
www.infantmilkinfo.org website lan 18% increase on 20241.
We answered 81 queries from health workers and parents.
Our collaborative research on formula preparation was recognised for an i mpact award.
We delivered 20 trainings I lectures I webinars / presentations to an esti mated 4K health
workers, other professionals and parents.
We had 29.8K followers on social media la 25% increase on 20241 and 3.8K newsletter
subscribers (an 8% increase on 20241.
The value of our practical work is exemplified by these quotes from health workers. early years
professionals and parents..

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
Health workers:
'Many thanks forproviding these valuable IEating Wellj re50urce5. 1 always recommend your 51te to
my '5rarting solid5' workshop parricipants and really appreciate having a rrusred informarion
source for the families I support-
"Your social media posts are so helpful in raising awareness of important feeding topics for
parents and health care professionals"
"l use these resources in clinic bvith low-income families - thank youl"
This IEaring Well resource] will help me to support families I work with thar are seeking asylum in
rhe UK and have no recourse ro public funds"
-1 ab501utely love your resources and have done since I was student almost 15 years ago - thank
you so muchl-
'The training was fabulous. very informative. I learnt some new things to do with introducing
solids"
"l use your infanr milk info site ro educare sraff ro empowerparenrs with informed feeding info"
'1 constantly refer to infant milk info for up-to-date information and include it in all training and
updates for staff who support families in our communities with infant feeding"
'The webinar on infant milk info was so helpful as we onlyget training in brea5tfeeding in the
tru5t-
Early years professionals
These [Eating We//J resources will be so helpful. We are a charity-run nursery and support some of
the mosr vulnerable children in our area"
'Eating Well.. packed lunches 15 an excellent resource. We encourage setting5 to share these ideas
with families, and some settings create display boards and add these recipes-
Parents
Thank you for creating a free healthy eating PDF for families who need inspiration to change
unhealthy eating habits.
"l used rhe infants recipe book. and it gave me some great ideas. lirrle one is starring preschool
nexr year and rhoughr of a variery ofpacked lunches wa5 a bir daunring. This will be a huge help.
Ihank youl"

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
Public Benefit
The Trustees confirm that they have referred to the guidance contained in the Charity
Commission's general guidance on public benefit when reviewing the charity's objectives and
activities and in planning future activities. It is the judgement of the Trustees that activities in
pur5UIt of the above objectives fully meet the public benefit test, which they have kept in mind in
planning programmes for the charity.
Fundlng
We are extremely grateful to our funders for their support. We remain committed to only accepting
funding which is free from conf lict of interest with the baby food industry, so as to remain entirely
independent. This reporting year, we continued to diversify our income streams, benefitting from
another 2 new donors and increasing our income from consultancies and subscriptions. This is
helping to increase our financial resilience and to ensure long-term sustainability.
STRucfuRE. GOVERNANCE AND MANAGEMENT
Organlsatlonal structure
During the reporting year, the charity had an Executive Director, two Senior Nutritionists {one on
maternity leave) and an Administrator as permanent employees. Our Executive Director increased
her hours to full time during the reporting year to meet the needs of the organisation, while other
staff remained on part time hours. We hired a Nutrition Off icer on a full time, fixed term contract
to cover some of the duties of our staff member on maternity leave. Her contract ended in
December 202 5. With the start of a new substantial two-year grant in February 2026, we recruited
a Nutritionist on a l -year fixed term contract.
Governlng document
The organisation was f irst set up on l August 201 l under a governing document. It subsequently
applied for, and was granted. charitable status as from 8 March 2012. The charity is controlled by
its governing docu ment, being a trust deed dated 8 March 2012. The governing document was
reviewed and updated in July 2023 and again in November 2024 due to changes in the Board. It
constitutes an unincorporated charity (charity nu mber 1146408).
Recruitment and appointment of new trustees
A minimum of three trustee5 is required to govern the charity. Under the term5 of the updated
governing document. trustees are appointed for an initial period of three years and can be
considered for re-election for additional three-year periods thereafter. In selecting individuals for
appointment as trustees. the trustees have regard to the skills, knowledge and experience needed

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
for the effective administration of the charity. Trustees meet at least three times a year. Trustees
can be removed from office if they are absent for all meetings over a period of a year, and can
resign during a term of office, notifying the Chair in writing. In July 2024, we recruited one new
Trustee through a targeted recruitment. In January 202 5, one Trustee stood down to manage a
potential conflict of interest with her changing employment. The Trustees met four time5 in the
reporting year.
Management
Decisions on strategy and budget are made by the trustees during their quarterly meetings. The
trustees delegate the day-to-day running of the charity to the Executive Director, who manages
and directs the staff of the charity. Trustees review and approve monthly progress reports on
activities and spend in support of the charity's objectives and annual workplan and budget, as
prepared by the Executive Director. In February 2026, we appointed an external accountancy firm
to provide routine financial support and oversight and advice to the Executive Director and
Trustees.
Flnanclal Revlew
The total income for the year was £2 22,01 O, comprising £191 .209 of unrestricted income and
£30,801 of restricted income. compared to total income of £2 39.047 in the previous year. Total
expenditure for the year was £198,683, comprisi ng £187,700 of unrestricted expenditure and
£10,983 of restricted expenditure, compared to £198,3 32 in the previous year. This shows the
ongoing success of our f undraising in the second year of active fundraising activity, as well as the
effectiveness of the cost-saving measures we took in the face of a reduction in core income in
2024. The charity therefore recorded a net movement in funds of £23,327 for the year. Total
funds carried forward at 31 July 2025 amounted to £151,962. including £20,218 of restricted
funds and £131 ,744 of u nre5tricted funds.
Reserves pollcy
The Trustees maintain minimum reserves of £47,000 to pay two months salaries, three month's
rent. accountancy fees in the event of the charity ceasing operation and a sum in the case of
redundancies. The Trustees are satisf led that the current level of reserves is sufficient.
Future Plans
Our work continue5 to be guided by our organisational theory of change (available in our 202 5
impact report at www.fir5tstepsnutrition.orgl. The focus of the charity's work remains the same in
202 512026. Our goal is for all children in the UK to eat well from the start of life (preconception to

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
age five), towards positively impacting on the high national levels of obesityloverweight and
dental decay. We do this through dual objectives..
l . To create a policy environment which better enables eating well in the early years. and
2. To contribute to better dietary habits and feeding practices in the early years in line with public
health recommendations.
We work towards 6 pol icy outcomes while at the same time creating, updating and disseminating
expert. conflict-of-interest free. practical resources for health workers, early years professionals
and parentslcarers. to support eating well. In 202512026. to maximise our impact. we are
focusing on 2 policy outcomes.. stronger formula milk regulations and stronger baby food
regulations.
We are also focusing on organisational development and management in 2026, outsourcing our
financial management, building our board and investing in our team to enable future growth.
A top priority remains seeking sustainable funding to Secure the future of the charity. We are
making progress on our first project towards this priority, which we hope will be realised and
made public by the end of 2026. We have also started work on developing paid-for training.
We remain optimistic that our ongoing, unique work will help us realise our goal.. a future where all
UK children can eat well from the start of life.

First Steps Nutrition Trust
Trustees. Report
for the year ended 31 July 2025
Statement Of Trustees. Responsibilities
The trustees are responsible for preparing the Trustees, Annual Report and the f inancial
statements in accordance with applicable law and United Kingdom Accounting Standard5 Iunited
Kingdom Generally Accepted Accounting Practice). In preparing these f inancial statement5, the
trustees are required to=
al select suitable accounting policies and apply them consistently.,
bl observe the methods and principles in the Charities SORP.,
c} make judgements and accounting estimates that are reasonable and prudent.,
dl state whether applicable UK accounting standards have been followed, subject to any material
departures disclosed and explained in the f inancial statements.,
el prepare the financial statements on the going concern basis unless it is i nappropriate to
presu me that the Trust will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show
and explain the Trust's transactions and disclose with reasonable accuracy at any time the
financial position of the Trust and enable them to ensure that the financial statements comply with
the Charities Act 201 I , the Charity (Accounts and Reports) Regulations 2008 and the provisions of
the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for
taking rea50nable 5tep5 for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees on
1910512026
and signed on their behalf by..
Signed_h6
Name _RotLP2ici¥&_______________
(Trustee}

Independent Examiner's Report to the Trustees of First Steps Nutrition Trust
I report on rhe financial statements of the Trust for rhe year ended 31 July 202 5 as set out on pages I I ro
Responslbllltles and basls of reporr
As the charity's trustees you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 2011 I'the Act'l.
I report in respect of my examinarion of the charity's accounts carried out under section 145 of the Act
and in carrying out my examination I have followed all the applicable Directions given by the Charitv
Commission under section 1451511bl of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my attention in
ionnection with the examination giving me cause to believe that in any material respect..
accounting records were not kepr in respect of rhe charity as required by section 130 of the Act., or
the account5 do not accord with those records., or
the account5 do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounrs and Reporrsl Regularions 2008 other than any requirement
rhat rhe accounts give a 'true and fair view, which is not a marter considered as part of an independent
examination
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Shruti Soni FCCA FCIE
Shruti Soni Ltd • Chartered Cerrified Accountants
117A St. John's Hill, Sevenoaks TNI 3 3PE
Date.. 19 May 2026
10

First Steps Nutrition Trust
Statement of financial activities
For the
ar ended 31 Jul 2025
2025
Total Unrestricted Restricted
2024
Total
Unrestricted Restricted
Note
Income from-
Donations and grants
Charitable activitie5
Contract Income
Sale of resource material
Investments
Other
149,837
30.801
180.638
202,500
202,500
25,028
14,944
641
759
25.028
14.944
641
759
36, 547
36,547
Total income
191.209
30,801
222.010
239,047
239,047
Expenditure on..
Adverrising & Marketing
Consultancy
Depreciation
Donations
EditlDe5ignlPriNt
Freelencers
Independent examiner'5 fee
IT Costs
Office Rent & Rates
Staff cost
Subscriptions
SuNdrie5
TravÈl
2,553
2,931
255
2.553
2.931
255
3,859
3,336
204
1,500
11,808
707
1,980
3,025
14,983
152,289
1,636
1,004
2,001
3,859
3,336
204
1,500
11,808
707
1,980
3,025
14,983
152,289
1,636
1,004
2,001
11,420
11.420
1,630
3,769
8,335
149,640
2,546
2,348
2,273
1.630
3,769
8.335
160.623
2.546
2.348
2.273
10,983
Total expenditure
187,700
10.983
198,683
198,332
198,332
Net incomellexpenditurel for
rhe year
3.509
19.818
23.327
40,715
40,715
Net movement in funds
3,509
19,818
23.327
40,715
40,715
Reconciliation of funds-
Total funds brought forward
128,235
400
128,635
87,520
400
87,920
Total funds carried forward
131,744
20,218
151.962
128,235
400
128,635
All of rhe above results are derived from continuing acrivitie5. There were no other recognised gains or105ses other rhan rhose stated
above. Movements in funds are disclosed in Noie I I to the financial sratements.
11

First Steps Nutrition Trust
Balance sheet
Asat31
UI 2025
2025
2024
Note
Fixed assets-
Tangible assets
769
Current assets:
Debtors
Cash at bank and in hand
6.500
146.293
18,557
127,289
152,793
145,846
Liabilities-
Creditors.. amount5 falling due within one year
2,002
17,980
Net current assets
150,791
127.866
Total net assets
151.962
128,63 5
The funds of the charity:
Restricted income funds
Unrestricted income funds..
General funds
20.218
400
131,744
128.235
Total unrestricted funds
131,744
128.235
Total charlty funds
151,962
128.63 5
The financial statements were approved and authorised for issue by the Board on _1_9th_ma￿_ 2026.
Signed on behalf of the board of trustees
Signature
Rob Percival
Name
Trustee
12

Flrst Steps Nutrltlon Trust
Notes to the flnanclal statements
For the
ar ended 31
UI 2025
l Accountlng pollcles
a) Basls of preparatlon
The financial sratement5 have been prepared in accordance wirh Accounting and Reporring by Charities.
Statement of Recommended Practlce applicable to charltles preparing thelr accounts In accordance wlth the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191
ICharitSes SORP FR5 102 1 Al, the Financial Reportlng Standard applicable in rhe UK and Republic of Ireland
IFRS 1021, the Charitie5 Act 201 l and UK GAAP.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in
the relevant accounting policy or note.
The financial sratements have been prepared to give a 'true and fair. view and have deparred from the
Charities (Aciounts and Reports) RegulatlOn5 2008 only to the extent required to provide a 'true and fair
view,. This departure has involved following rhe Accounting and Reporting by Charities.. Staremenr of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporiing Siandard applicable in the UK and Republic of Ireland IFRS 1021 leffeciive l January 20191
(Charities SORP FR5 102 1 Al rather than the Accounting and Reporting by Charities." Statement of
Recommended Practice effecrive from l April 2005 which has since been withdrawn.
bl Tr￿blIc benefit entlty
The Trust meet5 the definition of a public benefit entiry under FRS 102.
c) Golng concern
The trustee5 consider that there are no rnaterial uncerraintie5 about the Trust's ability to continue as a going
concern.
Key judgement5 that the Trust ha5 made which have a Significant effect on the account5 include e5tirnating
accrued income for gift aid claim.
The trustees do not consider that there are any 50urce5 of estimation uncertainty at the reporting date that
have a sSgnlficant risk of causSng a materSal adjustment ro the carrylng amounts of assets and Ilabilltles wlthln
the next reporting period.
dl Income
Income is recognised when the charity has entitlement to the funds. any performance conditions attached to
the income have been met, it is probable thar the income will be received and rhat the amount can be
measured reliably.
Income frorn governrnent and other grants, whether'capital, grant5 or 'revenue' grants, is recognised when
the charity has entitlement to the funds, any performance conditions artached ro the grants have been met. it
15 probable that the income will be received and the arnount can be rnea5ured reliably and 15 not deferred.
el Fund accountlng
Restricted funds are io be used for specific purpose5 as laid down by the donor. Expendirure which meer5
these crlterla Is charged to the fund.
Unrestrlcted funds are donatlons and other incomSng resources recelved or generated for the charirable
purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
f) Expendlture and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party.
it Is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure Is classified by nature.
Irrecoverable VAT is charged as a c05t against the activity for which the expenditure wa5 incurred.
13

Flrst Steps Nutrltlon Trust
Notes to the flnanclal statements
For the
ar ended 31
UI 2025
gl Tanglble flxed as5ers
liems of equipmenr are capita115ed where rhe purchase price exceeds £250. Depreciation cosrs are allocated
to activities on the basis of the use of the related assets in those activities. Assets are reviewed for
impairmenr if circumstances indicate Iheir carrying value may exceed their net realisable value and value in
use.
Where fixed assets have been revalued, any exces5 bemeen the revalued amount and the historic cost of the
asset wlll be shown as a revaluation reserve In rhe balance sheet.
Depreciarion is provided at rates calculated to write down rhe cost of each asset to its estimared residual
value over Its expected useful Ilfe. The depreciatSon rates in use are as follows..
Computer equiprnent
20% on cost
h) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepaymenis are valued ai the amount prepaid nei of any rrade discounis due.
11 Cash at bank and In hand
Cash ar bank and cash in hand includes cash and shori term highly liquid invesimenrs with a shorr maruriry
of three months or less from the date of acquisition or opening of the dep051t or similar account. Cash
balances exclude any funds held on behalf of service users.
J) Credltors and provlslons
Creditors and provi5ion5 are recognised where ihe charity has a preseni obligation resulting from a pasi
event that will probably result in the transfer of funds to a thlrd parry and the amount due to settle the
obligaiion can be measured or esiimated reliably. Creditor5 and provislons are normally recognised ai their
settlement amount after allowing for any trade discounts due.
14

Flr5t Steps Nutrltlon Trust
Notes to the flnanclal statements
For the
ear ended 31
UI 2025
2 Staff cost5 and cost of key management personnel
Staff costs were as follows".
2025
2024
Salaries and wages
Social security costs
Employer's contribution to defined contribution pension schemes
143,166
9,149
8.308
137.113
8.497
6.679
160,623
152.289
No employee earned more than £60,000 during rhe year.
3 Staff numbers
The average number of employees (head count based on number of staff employed) during the
year was as follows..
2025
No.
2024
No.
Charitable activities
4 Related party transactlons
There are no donations from related parties which are outside the normal course of business
and no restriited donations from related partie5.
Key management personnel are the Trustee5 of the charity and the Executive Director.
During the year. the Trust reimbursed three Trusrees for their travel and meering expenses, at a
total of Nil 12024. £2251.
5 Taxatlon
The Trust is exempt from corporation tax as all irs income is charirable and is applied for
charitable purposes.

Flr5t Steps Nutrltlon Trust
Notes to the flnanclal statements
For the
ear ended 31
UI 2025
6 Tangible fixed assets
Computer
equipment
Total
2025 Total 2024
Cost or valuation
Ai the stari of the year
Additions in year
1,218
657
1.218
657
1.218
At the end of the year
1,875
1,875
1.218
Depreclatlon
At the start of the year
Charge for the year
449
255
449
255
245
204
At the end of the year
Net book value
At the end of the year
704
704
449
1,171
769
7 Debtor5
2025
2024
Trade debtors
Accrued income
Other debtors
6,500
16.000
2,557
6.500
18.557
8 Creditors= amounts falling due within one year
2025
2024
Accruals
Deferred income
2.002
1,980
16.000
2,002
17.980
9 Deferred Income
Deferred income comprises membership fees invoiced or received during rhe year that relate to
2025
2024
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
16,000
(16.0001
16.000
Balance at the end of the year
16.000
16

Flr5t Steps Nutrltlon Trust
Notes to the flnanclal statements
For the
ear ended 31
UI 2025
l O Analysis of net assets between funds
2025
General Restricred
unrestricted
fund
Total
funds
Tangible fixed a55ets
Net current assets
1.171
150.791
130,573
20,218
Net assets at the end of the year
131,744
20,218
151.962
I l Movements In fund5
Atl
Incoming
Outgoing
August resources & resources &
2024
gains
losses
At 31 July
2025
Transfer5
Restrlaed funds..
Kingsion Essay Award
Marcia Brady Tucker Foundatio
Impact on Urban Health
400
400
10.484
9.334
14,800
16,000
14,3161
16.6661
Total restricted fund5
400
30,800
110,9821
20.218
Unrestrlcted funds:
General funds
128,235
191.209
1187.7001
131.744
Total unrestrlaed funds
128,235
191.209
1187.7001
131.744
Total funds
128,635
222.009
1198,6821
151.962
Atl
Incoming
Outgoing
August resources & resources &
2023
gains
losse5
At 31 July
2024
TraN5fer5
Restrlcred funds..
Kingston Essay Award
400
400
Total restrlcred funds
400
400
Unrestricted funds-
General funds
87,520
239,047
1198,3321
128.235
Total unrestrlaed funds
87,520
239.047
1198,3321
128.235
Total funds
87,920
239,047
1198,3321
128.635
17

Flr5t Steps Nutrltlon Trust
Notes to the flnanclal statements
For the
ear ended 31
UI 2025
Purposes of restricted funds
Marcia Brady Tucker Foundation to support breastfeeding advocacy by First Steps Nutrition
Trust
Impact on Urban Healih - to suppori the Baby Feeding Law Group, an alliance of 38 member
organisarions, who advocate for government and policy makers to take action ro prevent
inappropriate marketing of infant formula, based on the Competition Market Analysis ICMAI'S
interim report recommendations.
18