GOOD THINKING UNAUDITED TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 REGISTERED CHARITY NO: 1147404
GOOD THINKING TRUSTEE'S ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 CONTENTS Pa Reference and adminislralion infomi*ion Trustees, report Independent examiner's report Slalemenl of financial actiwties Balance sheet Notes to the financial slalements 8-13
GOOD THINKING REGISTERED CHARITY NO. 1147404 REFERENCE AND ADMINISTRATION INFORMATION Trust88s S Singh M D Willcox PJDLaws Trust Contact and principal offlce SJCook Mortey House 36 Acreman Street Sherborne Dorsel DT9 3NX PROFESSIONAL ADVISORS Banker5 Barclays Bank P Barclays Private Bank 2 Victoria Street Westminster London SW1H OND Indèpendent examingr A C Mole LLP Chartered Accountant Slafford Housg Blackbrook Park Avenue Taunton Somerset TA12PX
GOOD THINKING TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 5 APRIL 2025 The Trustees present their report and financial slalemenls for the year ended 5 April 2025. The reference and adminislralion infomialion sel out on page 1 forms part of this report. Structure overnance and mana ement Constitution Good Thinking was constiluled by Trust Deed on 8 February 2012 as amended 12 January 2015.11 was registered with the Charrty Commission on 23 May 2012. rggislered charty number 1147404. Recruitment and appointment of Trustees In selecting persons lo be appointed as Trustee5, IheTruslees lake into accounlthe benefits ol appoinlingthat person and the contribution that they can make lo the Charity. There shall be at least bNo Trustees. The statutory power of appointing new Trustees shall be exercisable. Risks During the year, the Trustees undertook a thorough assessment ol the major risks to which the Charity 15 exposed. Procedures and strategies were implemented lo minimi5e these risks Whe not already in place. The key risks identified ar@ external and relate to the legal interpretation of the Charity's activities and how the financial climate affects charitable giving and the security of the Charity's assets. The Trustees continue to miligale these risks through regular meetings with employees and extemal consullanls lo review the Charity's activities and strategie5. The Trustees also ulilise the expertise from exlernal investment and banking advisors in order lo safeguard the Charity's assets and consider alternative options. The Trustees have a policy of seeking external legal advice for employment matters and for other matters of a legal nature. Controls and procedures are regularly reviewed by the Trustees and updated, as necessary. This includes prolecling against fraud through approval procedures for all paymen15 and receipts and ensuring rigorous Gonlrols on bank accounts through appropriate signatory mandates. Ob-ectives and activities ObjectSvès Trustees shall hold the trust fund and its income upon trust lo apply them for such charitable purposes a5 the Trustee5 in their absolute discretion deem frt. The mission slalement of the Charity is"To eneourage curious minds and promote rational enquiry.. Achievements and erformance The charity received £354.414 in donations. associated Grft Aid and interest during the year12024.. £239,317). Grants are awarded lo individuals and institutions in furtherance of the charitable objects and taking due consideration of the Charity Commission published guidance on the operation of Public Benefit requirements. Grants have been made to UK-based inslilulions and individuals, particularly in the field ol education. Reports are received and discussions eonducled between the Trustees and recipients lo monitor and assess the effectiveness of the grants and resea¥ch aclivilies.
GOOD THINKING TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2025 Material Grant5 to InstilulKJns'. 2025 £4.000 £2,000 £2,400 £8.400 2024 £4,000 £3,000 £2.430 £9,430 Full Fact Sense about S¢ience Other grants Total Euclid, a new maths initiative, started in September 2023. This was renamed Parallel Academy. during the year. Parallel Academy offers free online luloring lo secondary school pupils. who demonstrate a grft for mathematics. There is a four-51age admission process which lest the pupil's abilrty in mental arithmetic. maths facts, problem solving and the ability lo learn new maths. A grant of £4,000 was made to Full Fact lo support the team of independent fact checkers antj campavJners who find and expose bad information and counter the harm il does. A grant of £2,000 was made to Sense about Science in support of their work lo RAG rale policies for ewdence transparency in an election year. Good Thinking's own research activities continyed in the year and the Charity also provided factsheets for the website advising the public of findings of vaTiOUS campaigns and raising awareness. Plans for tho future The Trustees have reviewed the future granl-making strategy and beneficiaries have been identified. An appropriate system for monitoring grants has been pul in place. The Charity plans lo continue lo iesearch and challenge misleading claims in order to encourage rational thinking and educate the public. JMKA Education Continue lo assist with the running of the Maths Maslerclass project and other Maths projects, such as Parallel Academy. During the year, three experienced teachers were empk)yed to assi51 with the delivery and development of Parallel Academy. The charrty also engaged the seNi¢es of Project Consullanl. Kawther Alfasi, during the year. Parallel Academy has 500 pupils registered and il is anlicipaled that there will be 1,000 pupils registered by January 2026. After the first year, students will be asked lo pay a di$¢tIonary fee. which will contribute towards the running costs of the programme. Students who cannot afford lo pay the fees may still benefit from the programme, eilher by receiving this free or by paying a reduced fee. depending on the circumstances.
GOOD THINKING TRUSTEES'ANNUAL REPORT FOR THE YEAR ENDED S APRIL 2025 Public benefit Th6 Tiuslees confirm that they have referred to the guidance contained in the Charity Commission's general gtjidance on publi¢ benefit when reviewing the Tiust's aims and objective5 and in planning future activitiés. Financial review Financial results Total net movement of funds lor the year atnounting lo a surplus of £64.509 12024: Deffcit of £31,400) have been tiansferred to the accumulated funds ol the charity. Reserves The reserves of the Charity at the period end are £104.73712024-. £40,228). Those that are freely available for charttable use amounted to £104,73712024.. £40.2281. The tsee reserves of the Charity amounted to £104,73212024.' £39,986) It is the Trustees. policy lo apply the reserves in grants. The incidence of grants is uneven, and rtrserves are therefore held to meet need as11 aiises. statement of Trustees. res onsibilities The Trustee$ are responsible for preparing the Trustees, Report and the financial statements in accordance wtth applicable law and United Kingdom Accounting Standards Including Finanaal Reporting Standard 102.. The Financia1 Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Gener3I1y Accepted Accountrng Practice). The Saw applicable to charities in England & Wales iequires the Trustees lo prepare financial statements for ea¢h financial year which give a true and fair view of the stsle of affairs of the charity and of the income and expenditkjre of the charity for that period. In preparing these financial stalernents, the Trustees are iequired to.. select suitable accounting polieies and then apply them consistenly.. observe the methods and principles in the Charities SORP-, make judgments and accotjnting estimates that ale reasonable and piudenl., stste whether applicable accounting standards have been followed, subje¢l lo any material departures disclosed and explained in the financial glatements, and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the ¢harity will continue in business. Th& Trustees are responsible for maintaining proper accounting record$ which disclose with reasonable accuracy at any time the financial position of the chaiity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions ol the trust deed. They are also iesponsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other iiiegularities. JAI; I,I,I, S L Singh Tiustee Dale.. 2.11.ZoZ
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF GOODTHINKING l report lo the Trustees on my examination of the accounts of Good Thinking Ilhe Charilyl for the year ended 5 April 2025, which are sel out on pages 6 10 13. Responsibilities and basis of report As the charity trustees of Good Thinking you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'lhe Acl'l. I report in respect of my examination of the Charilvs accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's $tatement Since the Charity's gross inccjne exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that 1am qualified lo undertake the examination because l am a member of the Inslilule of Chartered AcGounlanls in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have Come to my attention in connection with the examination giving me cause lo believe that in any material respe¢l'. {11 accounting records were not kept in respect of the Trust as required by Section 130 of the A¢l', or {21 the accounts do not accord with those records.. or {31 the accounts do not comply with the applicable requirements conceming the fomi and conlenl of accounts sel out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair vieW which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sarah Tw51 FCA DChA A C Mole LLP Chartered Accountants stafford House 81a¢kbroDk Park Avenue Taunton Somersel TA1 2PX Dale..
GOOD THINKING STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 5 APRIL 2025 Unre$- tricted Total 2025 Unres- tricted Res- tricted Total 2024 Notes trfcted Income and endowments from.. Donations and legacies Charitable activities 350.168 1.363 350,188 4.243 238.133 1,183 238,133 1,183 2.880 Interest received Total income 351,534 2,880 354,414 239,317 239,317 Expenditure on: Charitable activities 287,025 2.880 289,905 205,317 2,600 207,917 Total expenditu 287,025 2,880 289,905 205,317 1600 207.917 Net incomellèxpenditurel for the year before transfers 64.509 64,509 34,000 12,6001 31,400 Net movement in funds 64,509 64,509 34,000 12,600) 31,400 Re¢on¢lliation of funds Total funds brought forward 40,228 40.228 6,228 2.600 8,828 Total funds carried forward 104,737 104,737 40,228 40,22B The notes on pages 8- 13 fomi part of these financial slalements.
GOOD THINKING BALANCE SHEET AS AT S APRIL 2025 Notes 2025 2024 Fixed assèts Computer equipment 242 242 Current assets Debtors 26,059 14,643 Cash at bank and in hand 94,889 32,523 120,948 47.166 Liabiif(ies Creditors.. Amounts falling due within one year 16.216 7,180 Net current assèts 104,732 39,986 Net assets 104,737 40,228 rhe funds ofthe charity Uniestricted funds 104,737 40.228 104,737 40.228 The financial statements were approved by the board on . 2 12.202S .and signed on its behalf by.. SLS Trustee The notes on pages 8 - 13 form part ofthese financial statements.
GOOD THINKING NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Accountin olicies asls of re aration The flnancial statements have been prepad in accordance wi(h Accounting and Reporting by Charilies.. Statement ol reccynmended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 (issued October 20191 Charities SORP IFRS1021, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the charleS Act 2011. The financial slalemenls have been prepared under the historical cost convention with items recognised al Cost or transaction value unless otherwise slated in thèse notes. Th$ financial slalemenl$ are presented in slerting whith is the functional CUTrency of the chalily and rounded lo the nearest £. The charity conslitules a public benefit enlily as defined by FRS 102. The Trustees consider that there are no material uncertainties about the charity's ability lo continue as a going concem. The significant accounting policies applied in the preparation of these financial statements are sel out below. These policies have been consistently applied lo all years presented unless olherw5e slated_ Fund accountin ollc Unrestrided Funds- The funds are held so that they can be used in accordance with the Charity's objects al the discretion of the Tru51ees. Reslricled Funds- The funds are lo be used for specrfic purposes as laid down by the donor. Expenditure which meets thi5 criterion is charged lo the fund, together with a fair allocation of management and support cost5. Income All income 15 recognised in the Statement of Financial Activities once the charity has entitlement to the funds, il is probable that the income will be received and the amount can be MeaSud reliably. Donations and any associated income lax reclaimable from H M Revenue & Customs are recognised on a receivable basis. Ex enditure Liabilities ale recognised as expenditure as soon as there is a legal or ¢onslru¢lNe obligation committing the charity lo that expenditure, il is probable that settlement is required and the amount can be measured reliably. Expenditu is accounted lor on an ac¢ruals bas15 and has been classffied under headings that aggregate all cost related lo the category. Where costs cannot be directly atlribuled to particular headings they have been allocated lo activities on a basis consislenl with the use of resources. Irrecoverable VAT is charged against the expenditure heading for which it wa5 incurred. Governance costs comprise all costs involving the public accounlabilily of the charity and its compliance wi(h regulation and gDod practice. Grants payable are payments made to individuals and institutions in furtherance of the Charity's charitable objectives. Grant awards that are subject to the recipient fulfilling performance condition5 are only accrued when the recipient has fulfilled the conditions. Cash and bank In hand Cash at bank and in harbd comprise of cash on hand and call deposits. and other short-lerm highly liquid investments that are readily convertible lo a known amount of ¢ash and are subject to an insignrficant risk of change in value.
GOODTHINKING NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 A¢¢ountin olicias continued Creditors Creditors and provisions are re¢ognised where the Charrty has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo settle the obligation can be measured or eslimaled reliably. Cr$dilors and provisions are recognised al their selllement amount. Financial instruments The charity only enters into basic financial instruments that resu in the recognition of financial assets and liabilities such as trade and other debtors and creditors together wtth loans lo related parties. Debt instruments, su¢h as trade debtors and creditors. are initially measured at transaction price and subsequently measured at amortised cost. Financial assets are assessed al the end of each reporting period for objective evidence of impairment. If objective evidence of impaiment is found, an impairment loss is recognised in the income ststement. Critical Ac¢ounlln Estimates and Jud ements The preparation of the financial slalemenls in conformily with FRS 102 requires management lo make judoemenls, eslimales and assumptions that affect the application of policies and reported amounts of assets and liabilities, income. and expenses. Eslimales and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstances. The charty makes estimates and assumptions concerning the future. The resusting accounting estimates will. by definition, seldom equal Ihe related actual results. The Trustees consider that there are no crilical accounting eslimales or judgements that have a significant risk of causing a material adjuslmenl to the carrying amounts of assets and liabilities within the next financial year. Donations and le acies Unres- tricted Res- tri¢ted Totsl 2025 Unres- trictad Re trlclgd Total 2024 Donations Donations and legacies 350.168 350,168 238.133 238,133 350.168 350,168 238.133 238,133 Charitable Activities- Income Unres- tricted Res- tricted Total 2025 Unres- tricted Res- tricted Total 2024 Charltable activities Lectures and presentations Parallel Academy fee donations 1.363 1.363 2,880 1.183 1.183 2,880 1,363 2880 4.243 1,183 1,183
GOOD THINKING NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED S APRIL 2025 Charitable Acttvities- Ex enditure Unres- tricted Res- trlcted Total 2025 Unres- tricted Total 2024 trlcted Charitable grants Charitable donations IDelai5ed in Trustee5' Annual Report} 8.400 8,400 9,430 9,430 Research and educatlon activities Salarie5 Pension contributions Employers National Insurance Training Legal and professional fees Consultsncyfees Post. slalionery and computer consumables Computer costs Marketing Telephone and inlernel Insurance Travel and subsistence Credit card charges Transaction charges Sundries Depreciation 91.285 3.114 3,614 91,285 3,114 3,614 .061 1,589 2.600 46,661 1,589 450 49.158 93.323 112 450 49,158 93,323 112 88.650 83,540 114 2.880 91,530 83,540 114 3.353 3,353 2,380 2,390 1.913 173 293 24 32 448 35 237 1,913 173 293 24 32 448 35 237 1.981 142 274 1,981 142 274 19 392 35 273 19 392 35 273 Support Costs Governance costs Independent examination fee 1,800 1,800 1,698 1,698 278,625 2.880 281,505 19S.887 2,600 198,487 Totsl expenditure 287,025 2,880 289,905 205,317 2.600 207.917 Staff Costs and rustees. Emoluments During the year 4 persons were employed by Good Thinking 12024.. 11. The average number of employees was 2 during the year12024'. 11. Gross salaries paid during the year amounted lo £91,28512024.' £46,661). None of the Trustees received remuneration for their work as Trustees. The Trustees incurred expenses of £61 on behalf of the charity during the year ended 5 April 202512024.. £2051. £Nil was still lo be reimbursed at the year-end12024.' £Nill. -10-
GOODTHINKING NOTESTOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 202S Fixgd A$5ets Computer Equipment Total Cost Al 6 April 2024 Additions Al 5 April 2025 819 819 819 819 Depreciatlon Al 6 April 2024 Charge for the year Al 5 April 2025 577 237 814 237 814 Carrying amount Al 6 April 2024 Al 5 April 2025 242 242 Debtors 2025 2024 Accrued income Prepayments Other debtors Gift aid recoverable 204 2,387 1.201 210 12,948 23,468 26.059 14.643 Creditors- amounts due in less than one ear 2025 2024 Trade creditors Accruals and deferred income Social security 429 12,328 3,459 253 5,947 980 16.216 7,180 -11-
GOODTHINKING NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 Stat men of funds Balance 06.04.24 Expend- iture Balance 05.04.25 Income Restricted funds Parallel Academy 2,880 12.8801 Total restrlcted funds 2,880 12.8801 Unrestricted funds General 40,228 351.534 {287.0251 104,737 Total Funds 40.228 354,414 (289.9051 104.737 Balance 06.04.23 Expend- iture Balance 05.04.24 Income Restricted fund$ Top-Top Sel Maths Project 2.600 12,6001 Total rastri¢ted funds 2.600 12,6001 Unrestricted funds General 6.228 239,317 {205,3171 40,228 Total Funds 8,828 239,317 {207.9171 40,228 -12-
GOOD THINKING NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 10 Anal Sis of net assets between funds Unres• tricted Total funds 2025 tricted Fixed assets Nel current assets 104,732 104.732 107,737 107,737 Unres tricted Total funds 2024 tricted Fixed assets 242 242 Net current assets 39,986 39.986 40,228 40,228 -13-