Registered number 7927534
Registered charity number 1147661
The Economist Educational Foundation (A company limited by guarantee)
Trustees' report and financial statements for the year ended March 31st 2025
The Economist Educational Foundation
The Economist Educational Foundation
(A company limited by guarantee)
| Contents | Contents | Page | |
|---|---|---|---|
| Reference and administrative information | 1 | ||
| Trustees' annual report | 2 | ||
| 9 | |||
| Statement of financial activities | 10 | ||
| Balance sheet | 11 | ||
| Statement of cash flows | 12 | ||
| Notes to the financial statements | 13 |
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The Economist Educational Foundation
The Economist Educational Foundation
(A company limited by guarantee)
Reference and administrative information
Charity number 1147661 Company number 7927534 Directors and Trustees Daniel Franklin (resigned 23 September 2025 Robert Guest (appointed 23 September 2025) Stephen Godsell (resigned 23 September 2025) Martyn Dempsey-Caddick Kike Agunbiade Nick Shippin (resigned on 19 June 2025) Henry Tricks Ashwin Tirodkar Lucy Ashman Laura Brown Chief executive officer Emily Evans (resigned on 30 August 2024) Flora Letanka (appointed on 2 September 2024) Company secretary Fola Sanu Registered office The Adelphi 1-11 John Adam Street London WC2N 6HT Accountants Goldwins Limited Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG
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The Economist Educational Foundation
The Trustees present their report and financial statements for the year ended March 31st 2025.
Objective and principal activities
The Foundation was incorporated in England and Wales as a private company limited by guarantee on 30th January 2012 and was registered with the Charity Commission on 12th
The Foundation is established for charitable purposes to provide educational experiences and materials about current affairs, key world events, culture, business, finance, science and technology, for socially and economically disadvantaged young people.
Public benefit
The Trustees have a duty to consider public benefit guidance as published by the Charity Commission. The Trustees are aware of the Charity Commission guidance on public benefit reporting and are satisfied that the activities of the Foundation meet the requirements for them to be considered as being provided for the public benefit.
We enable under-served children aged 10 to 16 to join inspiring discussions about the news, which teach them to think critically, communicate effectively and understand global issues.
Our programme, Topical Talk, brings children into these discussions in school and online. We give teachers training and resources to have in-depth conversations about the news in their classrooms. We also provide unique opportunities for children to join international online discussions with each other and leading topic experts, including inspiring role models.
The critical-thinking and communication skills that children build are linked to improved outcomes at school, in future employment and beyond. To increase the value of these skills further, we support children to use them to engage effectively with the news, to help them make sense of complex world issues in times of misinformation and polarisation.
Review of achievements and performance
In 2024-25 we continued to expand and deepen our impact in pursuit of our goal to reach one million children in 2026.
Expanding our reach
In the 2024-25 school year, Topical Talk reached over 100 countries and 532,000 children - (making them downloadable without creating an account), which has enabled us to reach this high number of students across the world. But we also had a total of 2,291 teachers engaged regularly, reaching an estimated 91,640 students.
An important part of our mission is to reach the most disadvantaged students. Across all our participating teachers worldwide, 39% work with a large number of disadvantaged students. This figure rises to 50% among our teachers in the UK and the US, where the majority of our
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The Economist Educational Foundation
participating teachers are based.
Deepening our engagement
We make Topical Talk teaching materials available for free, so any teacher can use them for in-depth classroom discussions about the news. This enables us to have an impact on hundreds of thousands of children, anywhere in the world. However, we know these to continually grow the number of teachers who run regular discussions, and in 2024-25 we continued to invest in inspiring and supporting them to do this.
Improving the Topical Talk Festival
One of the ways we deepen our engagement and impact is by providing Topical Talk Festival, and March. In 2025, a total of 1,728 students from 19 countries participated in the Festival, with a 64% overall class engagement rate (up from 44% in 2024). We saw a significant increase in the quality of online discussions and a decrease in comments made using AI, thanks to a multi-pronged approach of new teacher guidance, a student video, and website changes. Over the course of the Festival, students submitted 11,749 comments, moderated by a team composed of our team members, paid freelancers and 25 volunteers from The Economist Group. The Festival brought together exceptional experts, including astronaut Dr Shawna Pandya and Netflix engineer Tejas Chopra, to engage with students on topics ranging from AI to women in space. The Festival continues to be a powerful tool for inspiring students, with 75% saying they enjoy school more because of the Topical Talk Festival and one noting, "It helped me think more critically and made school feel more connected to the world around
Ensuring deep impact: Developing Topical Talk Communities
We work collaboratively with teachers in local clusters of schools - - to make Topical Talk a long-term success. Our goal is to support teachers in running regular discussions for the deepest impact on students. In 2024-25, we saw several key achievements:
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Clayton County Public Schools (Atlanta, US): We deepened our partnership with CCPS, working on embedding Topical Talk more deeply in the curriculum: all 39 Elementary schools now run Topical Talk weekly as part of their gifted and advanced learning curriculum; 28 classes across Elementary and Middle schools took part in the Festival and 25 classes took part in the first Leadership for Change Prize. Topical Talk training and resources are also being used within wider CCPS teacher training, reaching hundreds of teachers.
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Kent Catholic Primary Schools (Kent and Medway, UK) : We launched our first structured pilot, with 10 teachers taking part in a training programme. Teachers have provides a level playing field. [Students] all start at the same level. For one SEN child, her genuine passion for the topics drove her to speak - when she doesn't contribute in other lessons".
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SEED Partnership (Lagos, Nigeria): Our pilot concluded in 2024, with 100% of teachers saying they would recommend Topical Talk to a colleague. We will continue to support these schools to stay involved through the Leadership for Change Prize, which is better suited for their context.
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The Economist Educational Foundation
Developing a new programme: the Leadership For Change Prize
The Topical Talk Leadership for Change Prize, supported by Rolex, is a new programme to empower students to become future leaders by learning about the big issues affecting their lives and futures and come up with ideas on how to lead change in their own communities. An impressive 200,000 students joined discussions as part of the Leadership for Change Prize in 2024.
The curriculum was designed to equip young people with key critical-thinking, creative problem-solving and communication skills by helping them explore how different leaders are ng individuals, including Geetha Murali, CEO of Room to Read, guided students in applying leadership skills to the challenges in their own communities.
The curriculum culminated with the Leadership for Change Prize 2024. Students pitched their winning schools from South Africa, Nigeria and Bangladesh received funding and mentorship to help make their projects a reality. After the project, 87% of students believe change can
Influencing policy and building our profile
We know that regular current affairs education is transformative - development, but also for democratic participation. Teaching students to think critically about current events is a practical investment in civic engagement and social cohesion. For this reason, we are actively working to build our profile and influence in the policy space, to make the case that current affairs education should be mandatory for students aged 10-16.
In 2024, we attended and presented at several conferences and events, including The the Global Media Literacy Network. We engaged with policy-makers, meeting with MP Sam Carling and the co-chair of the Schools, Learning and Assessment APPG, Peter Swallow. We also submitted evidence and attended workshops for the Curriculum and Assessment Review and wrote a policy paper on making current affairs mandatory in schools.
Our impact
These developments expanded the reach of Topical Talk overall and grew the number of children who had regular Topical Talk discussions.
Consistent with previous years, we saw that these regularly-participating children made significantly more than expected progress in essential creativity, problem-solving, speaking and listening skills. We measure their progress using the Skills Builder Universal Framework. We compare it to the average progress made in a year by a class that receives no intervention focused on these skills. The data we collected from teachers in 2024-25 showed that children who participated in Topical Talk regularly made, on average, 6 times more progress than they would otherwise be expected to make in a whole school year.
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The Economist Educational Foundation
Financial review
The Foundation incurred a deficit of £53,166 in 2024-25. Income increased by £42,820 as a result of a number of donors supporting programmes and activities that will be delivered in FY 2025-26; and The Economist Newspaper both increasing its donation, and encouraging its employees to support the charity through fundraising activities. The Foundation had reserves of £614,429 at March 31st 2025. These reserves will allow the Foundation to further invest in improving both impact and reach.
The Trustees regularly review risks to the Foundation, including financial risk. They set the fundraising targets required to meet its spending needs and manage financial risk by ensuring the Foundation maintains adequate reserves to both meet future commitments made to donors and sponsors and manage risks associated with the uncertain outcome of future fundraising activity.
The Economist Group supports the Foundation by donating office space, facilities and IT equipment. It also provides technology, Human Resource, Legal and Financial services.
Reserves policy
The Trustees have resolved that the Foundation should maintain cash and readily-realisable assets sufficient to fund the equivalent of no less than six months of staff expenditure.
In the unlikely event of the Foundation facing difficult financial circumstances, this would allow to continue being paid during a period of managed adjustment to these new circumstances. This policy required the Foundation to hold at least 385,174 in liquid and readily realisable assets.
The funds held at 31 March 2025 were £614,429 comprising £385,174 unrestricted reserves held to comply with the Reserves policy; £185,741 of unrestricted reserves designated to ted reserves raised and ring fenced towards delivering charitable work planned for 2025-26.
Diversity statement
Equality of opportunity is at the heart of our purpose as a charity. We exist to support young people to succeed regardless of their background. Valuing diverse voices is essential to who we are: we help young people to build a complete picture of the world by presenting them with a wide range of perspectives on current affairs, and we support them to make their unique voices heard.
That is why we are passionately dedicated to being inclusive, nurturing diversity and actively addressing discrimination. We have identified the following areas where we are best placed to make a difference. Below, we report on progress made in these areas and set our target for 2025-26.
Educating young people: We create opportunities for children to learn about how issues in the news affect people differently based on their backgrounds and experiences, and to learn about different forms of discrimination in the context of global news topics. In 2024-25, young Topical Talkers had opportunities to join well-informed discussions about topics including assistive technology, immigration affected by climate change, misogyny and citizenship. We also created a lesson to celebrate black innovation in Black History Month.
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The Economist Educational Foundation
Role models: We provide young people with opportunities to interact with diverse role models on our online Hub and at events, including leaders in their fields. In 2024 we engaged a wide and diverse range of topic experts to join discussions with children during our Topical Talk Festival and live virtual lessons. For example, we hosted a live virtual lesson on women in space, reaching over 1,000 children in 18 countries around the world.
Diverse voices on current affairs: In addition to the experts that children engage with on our online Hub and at events, our teaching resources themselves present young people with diverse perspectives and voices on current affairs, in the classroom. One of the ways we do this is that, when creating our teaching materials, we often work with people who have lived we included voices of people from both Russia and Ukraine about the impact of the war: doctors, teachers, rehabilitation people, people fighting, independent journalists, a deserter and a refugee.
children to share and hear different perspectives and experiences. We design activities and train teachers to ensure all students are given opportunities to contribute to discussions and feel safe doing so. For each lesson we consider how the topic might affect children differently based on their background and experiences, and design activities to ensure the topic is explored sensitively with that in mind. Lessons also enable teachers to manage complex classroom dynamics, for example where certain children are in a minority or disproportionately oups.
Building a team that reflects the diversity of the young people we work with: We gained greater diversity in our team in 2024-25, but it remains a priority to continue to build this as we grow further.
2025-26 TARGET
In 2024-25, our target was to continue developing how we ensure that our understanding of
In 2025-26, we are further developing this by launching a Student Ambassador group and a Teacher Advisory Group. These groups will help us get direct feedback from a diverse range of students and teachers on their experience of Topical Talk, what topics they are interested in, and how we can improve their overall user experience.
In 2025-26, we will also develop a comprehensive Equity, Diversity and Inclusion strategy, to ensure that we are inclusive and representative of the young people we work with, and that we are creating a culture where everyone feels valued.
Charity Governance Code
Although the Code is not a legal or regulatory requirement, the Foundation seeks to run its good governance, taking into account the size and nature of the Foundation.
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The Economist Educational Foundation
Organisation structure and management
The Board of Trustees is composed of nine persons who fulfil the statutory duties and responsibilities of Trustees. The Board meets at least quarterly. The Trustees who served on the board during the year are as follows:
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Daniel Franklin (Chairman resigned 23 September 2025)
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Robert Guest (Chairman appointed 23 September 2025)
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Stephen Godsell (resigned 23 September 2025)
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Martyn Dempsey-Caddick
-
Kike Agunbiade
-
Nick Shippin (resigned 19 June 2025)
-
Henry Tricks
-
Ashwin Tirodkar
-
Lucy Ashman Laura Brown
Chief executive officer: Flora Letanka
Stephen Godsell, Martyn Dempsey-Caddick, Ashwin Tirodkar, Lucy Ashman, Laura Brown and Kike Agunbiade are non-executive Trustees of the Foundation. The remaining Trustees are employees of The Economist Newspaper Limited.
Connected transactions
None of the Trustees has any beneficial interest in the Foundation.
The Foundation received a donation from The Economist Newspaper Limited, which also donates some facilities and services and pays some costs on behalf of the Foundation. With this exception it had no transactions with persons connected to the Foundation.
Trustees' responsibilities
The Trustees (who are also directors for the purposes of company law) are responsible for applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Foundation and of the incoming resources and application of resources, including the income and expenditure, of the Foundation for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Foundation will continue in operation.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Foundation and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Foundation and hence for taking reasonable
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The Economist Educational Foundation
steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and
By order of the Board
Robert Guest, Chairman
Date 2025
Registered office The Adelphi 1-11 John Adam Street London WC2N
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The Economist Educational Foundation
I report to the charity Trustees on my examination of the accounts of the company for the year ended 31st March 2025.
Responsibilities and basis of report
company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies A A
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my n 145 of Charities Act 2011 A Charity Commission under section 145(5) (b) of the 2011 Act.
a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 matter considered as part of an independent examination; or
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the account have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Anthony Epton BA, FCA, CTA, FCIE Goldwins Limited Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG Date: 3 December 2025
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The Economist Educational Foundation Statement of financial activities (incorporating an income and expenditure account) For the year ended March 31st 2025
| Note Income from: Donations 3 Total income Expenditure on: Charitable activities 4 Fundraising activities 4 Total expenditure Net income / (expenditure) for the year Net movement in funds Reconciliation of funds 9 Total funds brought forward Total funds carried forward |
2025 Unrestricted £ 228,233 228,233 108,869 30,728 139,597 88,636 |
2025 Restricted £ 711,806 711,806 757,775 95,833 853,608 (141,802) |
2025 Total £ 940,039 940,039 866,644 126,561 993,205 (53,166) |
2024 Total £ 897,219 |
|---|---|---|---|---|
| 897,219 | ||||
| 702,330 87,849 |
||||
| 790,179 | ||||
| 107,040 | ||||
| 88,636 482,279 570,915 |
(141,802) 185,316 43,514 |
(53,166) 667,595 614,429 |
107,040 560,555 |
|
| 667,595 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.
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The Economist Educational Foundation Balance sheet As at March 31st 2025
| Note Current assets 7 11 Liabilities 8 9 General Total unrestricted funds Funds Cash at bank and in hand Debtors Unrestricted funds: Restricted funds Creditors: amounts falling due within one year Designated Total funds Total net assets |
2025 £ 115,530 596,598 712,128 (97,699) 385,174 185,741 |
2025 £ 614,429 43,514 570,915 614,429 |
2024 £ 43,304 695,921 739,225 (71,630) 340,000 142,279 |
2024 £ 667,595 185,316 482,279 667,595 |
|---|---|---|---|---|
For the financial year ended March 31st 2025, the Foundation was entitled to exemption from audit under Section 477 of the Companies Act 2006, and no notice has been deposited under Section 476. However, in accordance with Section 145 of the Charities Act 2011, the financial statements have been examined by an independent examiner. The Trustees have acknowledged their responsibilities for ensuring that the Foundation keeps accounting records which comply with Section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the Foundation as at the end of the period and of its incoming resources and application of resources, including its income and expenditure for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006, so far as applicable to the Foundation.
The financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
Approved by the trustees on and signed on their behalf by:
| R Guest | B Patel |
|---|---|
| Chair of Trustees | Trustee |
Company registration no. 7927534
The attached notes form part of the financial statements.
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The Economist Educational Foundation Statement of cashflows For the year ended March 31st 2025
| Note Cashflows from operating activities: Net cash generated from/(used by) operating activities 10 Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 11 |
2025 £ (99,323) (99,323) 695,921 596,598 |
2024 £ 103,416 |
|---|---|---|
| 103,416 592,505 |
||
| 695,921 |
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The Economist Educational Foundation Notes to the financial statements For the year ended March 31st 2025
1 Accounting policies
a) Basis of preparation
The financial statements have been prepared in accordance with 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 Ireland (FRS 102 - effective 1 January 2015) - Charities SORP (FRS 102) and the Companies Act 2006.
The Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
b) Going concern
The Trustees consider that there are no material uncertainties about the Foundation's ability to continue as a going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
c) Income
Income is recognised when the Foundation has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Foundation; this is normally upon notification of the interest paid or payable by the bank.
e) Fund accounting
General unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the
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The Economist Educational Foundation Notes to the financial statements For the year ended March 31st 2025
1 Accounting policies (continued)
f) Expenditure and irrecoverable VAT
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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 under the following activity headings:
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Costs of raising funds comprise trading costs and the costs incurred by the Foundation in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
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Expenditure on charitable activities includes the costs of delivering services to further the purposes of the Foundation and their associated support costs.
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Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
g) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
h) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
i) Creditors and provisions
Creditors and provisions are recognised where the Foundation has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
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The Economist Educational Foundation Notes to the financial statements (continued) For the year ended March 31st 2025
| 2 Detailed comparatives for the Income from: Donations Total income Expenditure on: Charitable activities Fundraising Activities Total expenditure Net movement in funds Total funds brought forward Total funds carried forward 3 Income from donations Total Donations Donations from TEG Corporate partners Trusts and Foundations Individual donors School Income |
statement of financial activities 2024 2024 £ £ 128,598 768,621 128,598 768,621 60,045 642,285 12,592 75,257 72,637 717,542 55,961 51,079 426,318 134,237 482,279 185,316 2025 2025 2025 Total £ £ £ 162,000 - 162,000 53,770 609,379 663,149 6,000 25,000 31,000 6,463 - 6,463 - 77,427 77,427 228,233 711,806 940,039 Restricted Unrestricted Restricted Unrestricted |
2024 Total £ 897,219 897,219 702,330 87,849 790,179 107,040 560,555 667,595 2024 Total £ 135,000 488,314 106,535 140,212 27,158 897,219 |
|---|---|---|
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The Economist Educational Foundation Notes to the financial statements (continued) For the year ended March 31st 2025
4 Analysis of expenditure 2025
| Basis of allocation Staff costs Direct Direct costs Direct Support costs Total expenditure 2025 |
Charitable partnership activities Fundraising Support costs Total 2025 Total 2024 £ £ £ £ 461,436 123,037 185,874 770,347 640,128 197,108 3,524 22,226 222,858 150,051 658,544 126,561 208,100 993,205 790,179 208,100 - (208,100) - - 866,644 126,561 - 993,205 790,179 |
|---|---|
Of the total expenditure, £139,597 was unrestricted (2024: £72,637) and £853,608 was restricted (2024: £717,542).
Analysis of expenditure 2024
| Basis of allocation Staff costs Direct Direct costs Direct Support costs Total expenditure 2024 |
Charitable partnership activities Fundraising Support costs Total 2023 £ £ £ 380,490 86,660 172,978 640,128 115,739 1,189 33,123 150,051 496,229 87,849 206,101 790,179 206,101 - (206,101) - 702,330 87,849 - 790,179 |
|---|---|
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The Economist Educational Foundation Notes to the financial statements (continued) For the year ended March 31st 2025
5 Analysis of staff costs, Trustee remuneration and expenses, and the cost of key management personnel
----- Start of picture text -----
2025 2024
£ £
Staff costs
Salaries and wages 584,639 502,578
Social security costs 65,327 58,366
49,798 46,831
Other employee benefits 31,223 8,593
730,987 616,368
----- End of picture text -----
The total employee benefits including employer's pension and national insurance contributions of the key management personnel were £112,846 (2024: £99,907).
The Trustees were not paid or received any other benefits from employment with the Foundation in the year (2024: £nil) neither were they reimbursed expenses during the year (2024: £nil). No Trustee received payment for professional or other services supplied to the Foundation (2024: £nil).
Staff numbers
The average number of employees (headcount based on number of staff employed) during the year was:
| Charitable activities Fundraising activities |
2025 2024 No. No. 12 12 3 2 15 14 |
|---|---|
6 Taxation
The Foundation is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
7 Debtors
| Accrued income Taxation and social security |
2025 2024 £ £ 108,852 43,304 6,678 - 115,530 43,304 |
|---|---|
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The Economist Educational Foundation Notes to the financial statements (continued) For the year ended March 31st 2025
8 Creditors: amounts falling due within one year
| Amounts payable to related parties Deferred Income Accruals Taxation and social security |
2025 2024 £ £ 7,057 60,268 75,455 - 15,187 9,370 - 1,992 97,699 71,630 |
|---|---|
9 Movements in funds For the year ended March 31st 2024
| Restricted funds Support for Topical Talk Total restricted funds Unrestricted funds General Designated Total unrestricted funds Total funds |
At April 1st 2023 Income & gains Expenditure & losses Transfers At March 31st 2024 £ £ £ £ £ 134,237 768,621 717,542 - 185,316 134,237 768,621 717,542 - 185,316 336,000 4,000 - 340,000 90,318 124,598 72,637 - 142,279 426,318 128,598 72,637 - 482,279 560,555 897,219 790,179 - 667,595 |
|---|---|
Movements in funds For the year ended March 31st 2025
| Restricted funds Support for Topical Talk Total restricted funds Unrestricted funds General Designated Total unrestricted funds Total funds |
At April 1st 2024 Income & gains Expenditure & losses Transfers At March 31st 2025 £ £ £ £ £ 185,316 711,806 853,608 - 43,514 185,316 711,806 853,608 - 43,514 340,000 45,174 - 385,174 142,279 183,059 139,597 185,741 482,279 228,233 139,597 - 570,915 667,595 940,039 993,205 - 614,429 |
|---|---|
Purposes of restricted funds
Funds received were used to support programmes and activities. DCMS funds were used for adapting programme for SEND students.
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The Economist Educational Foundation Notes to the financial statements (continued) For the year ended March 31st 2025
10 Reconciliation of net income to net cash flow from operating activities
| Net income/(expenditure) for the reporting period (as per the statement of financial activities) (Increase)/decrease in debtors (Decrease)/increase in creditors Net cash (used in)/generated from operating activities |
2025 2024 £ £ (53,166) 107,040 (72,226) 19,366 26,069 (22,990) (99,323) 103,416 |
|---|---|
| **11 ** | Analysis of cash and cash equivalents Cash at bank and in hand |
£ £ £ £ 695,921 (99,323) - 596,598 At April 1st 2024 Other changes At March 31st 2025 Cash flows |
|---|---|---|
| Total cash and cash equivalents | 695,921 (99,323) - 596,598 |
12 Legal status of the Foundation
The Foundation is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the Foundation being wound up. It is also registered as a charity with the charity commission.
13 Related party transactions
The Foundation received a donation from The Economist Newspaper Limited of £162,000 in the year (2024: £174,618). The Economist Newspaper Limited also pays some costs on behalf of the Foundation which are reimbursed on a monthly basis. At the end of the financial year, the Foundation had an amount due to The Economist Newspaper Limited of £7,057 (2024: £57,619) relating to salaries paid on its behalf. With this exception, there were no other transactions with related parties.
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