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2025-08-31-accounts

Charity Registration No. 1147780

Company Registration No. 8069756 (England and Wales)

IMAGINE IF TRUST

COMPANY LIMITED BY GUARANTEE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Nathan Anderson Mr Thomas Baskerville Mrs Amanda Hargreaves Mr Christopher Holcombe Mrs Jennifer Mariner Charity number 1147780 Company number 8069756 Registered office Frontline Centre 147 Lawrence Road Liverpool L15 3HA Independent examiner Tony Stanley ACA Mitchell Charlesworth Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ Bankers CAF Bank PO Box 289 West Malling Kent ME19 4TA

(Appointed 1 January 2026) (Appointed 9 March 2026)

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE CONTENTS

Page
Trustees' report 1 - 7
Statement of trustees' responsibilities 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Balance sheet 12 - 13
Statement of cash flows 14
Notes to the accounts 15 - 28

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note to the financial statements and comply with the charity's memorandum and articles of association, the Companies Act 2006 and "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 2019).

Objectives and activities

An introduction to Imagine If Trust

Imagine If Trust was launched in September 2012 as the umbrella organisation for a number of social transformation projects.

Our vision is to ‘equip passionate people to work collaboratively in providing practical and emotional support’. In this we recognise the priority of working with people as holistically as possible, either by providing a range of projects under the Imagine If Trust umbrella or by partnering with other providers.

While the majority of our work is focussed on the Liverpool City Region, we also have the privilege of making a significant contribution to the lives of people abroad. To date this has primarily focussed on our Love Congo project – working in the Democratic Republic of Congo.

The primary aims of Imagine If Trust are:

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 aims and objectives and in planning future activities.

Objectives reflecting the stated aims above are translated into our core activities, as outlined below.

· The relief of those in need, financial hardship, sickness or distress

All of the projects that we undertake look to address this objective. Whether providing affordable food for those in food poverty or attending a court hearing with one of our tenants through our Genesis Housing project, all our activities have some element of bringing relief to those in distress.

· To advance education

We believe in the power of learning both to empower individuals and to bolster their sense of self-esteem. A number of our projects contribute to this objective including Sticky Fingers Nursery which provides nursery education to children aged 2 to 4, our after school project and our Love Congo project supporting a school in the Democratic Republic of Congo.

· To provide or assist in the provision of facilities in the interests of social welfare

As part of our desire to help people out of homelessness we provide supported accommodation through our Genesis Housing project. We currently have 3 properties providing a total of 11 bed spaces in the Wavertree area of Liverpool.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

Our partners

We would like to offer our thanks to all the organisations and individuals who have supported us in this and recent years work, including all of our volunteers, donors and sponsors. Everything Imagine If Trust has achieved has been reliant on your valuable contributions, in all their various forms. Thank you specifically to the following donors:

Acts 435

Benefact Trust

CAF Foundation

Feeding Liverpool

Freyson Consulting

Frontline Trust

Green Pastures

Kids Matter

LCVS

Liverpool City Council

Michael and Betty Little Trust

National Lottery Community Fund

Radio City Cash for Kids

Safe Families UK

Steve Morgan Foundation

Together Liverpool

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance

Here is a quick summary of each of the projects:

Acts 435

Acts 435 provides a platform for one off needs to be listed on a website anonymously and individual donors match those needs. This direct giving provides fast, financial help to the people in need.

Family Matters

In partnership with the national charity Safe Families for Children, Family Matters provides intensive volunteer support to vulnerable families who are referred to us by social workers.

Food Hub

The Food Hub is a community food store open each week whereby local residents can join up as members and access a whole range of discounted foods for a subscription of £10 per month.

Genesis Housing

Genesis Housing offers supported accommodation to those who would otherwise be homeless or in hostel accommodation. We operate a total of four properties, housing 11 tenants who receive weekly support, coaching and signposting into education, employment or training.

Forever Young

A weekly coffee morning that offers companionship to lonely and isolated older people in our community. Our team of staff and volunteers provide space for a chat, to share in an interest or hobby with occasional day trips throughout the year.

Love Congo

Our Love Congo project works alongside partner organisations in the Democratic Republic of Congo (DRC), we provide practical and financial support in a number of areas to help bring about change to these people. The main projects we support are based in the North East of the country where thousands of people have been displaced due to the ongoing conflict.

Sticky Fingers

Sticky Fingers is a parent/carer and toddler group aimed at providing support to parents of young children. These sessions provide a quality environment for the parent and child to explore the art of playing together. We provide refreshments and toast for parents and children, as well as craft activities, song time and a huge amount of space to run around!

Sticky Fingers Day Nursery

Sticky Fingers Day Nursery offers an excellent environment for learning and development, for 2, 3 and 4-yearolds. The Nursery was launched in 2015 with assistance from Liverpool City Council who had identified a specific need for nursery provision in the L15 postcode area. The priority for the nursery is to offer places to local parents who qualify for free nursery provision.

The Zone

The Zone is our after-school club, started in September 2021 in response to the Covid pandemic and many local families needing extra provision. We now run a weekly session for school years 3-8.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

Financial review

Total income for the year amounted to £474,953 (2024: £502,152). Total expenditure amounted to £488,300 (2024: £465,144). Overall, this has resulted in a deficit for the year of £13,347 (Surplus 2024: £37,008). This resulted in a total of available unrestricted funds of £48.178 at the year end (2024: £68,882).

The trustees have reviewed the financial status of the Trust. Overall, the picture at the close of the year is a positive one. With generous support from funders, we finished the financial year in a healthy position, albeit with known challenges in the coming years. With a recognition that the current economic climate remains challenging for all organisations in the charity sector, as well as ongoing transition of projects and key personnel, close monitoring of expenditure and cashflow management are required.

Looking ahead into 2026 and beyond, we continue to be confident in our ability to deliver high quality services which will enable us to achieve our primary objectives.

Investment policy

There are no restrictions on the investment powers of the trustees. Our liquid funds are held in our current and savings accounts.

Reserves policy

Our reserves policy reflects our desire to maintain a liquid reserve to draw on in the event of any reduction in our donated income and to provide a measure of protection to the delivery our core objectives. We continue to aim to have a fund of free and liquid reserves equivalent to £60k. This represents 3 months running costs and meets the criteria of our loan agreement with Kingdom Bank.

As at the financial year end, the value of unrestricted reserves fell below policy, however our closing bank balance remained healthy, and having stabilised the charity's finances we are seeking to increase the charities reserves to the amount as stated in the policy.

Net unrestricted current assets at the year-end were £33,281 (2024 £53,870). See note 22.

Risk policy

The trustees have identified the following main risks to our organisation and responses to these risks are outlined below.

1. Health and Safety

A Health and Safety policy has been adopted. Work has been carried out on risk assessments of all existing and new activities and new risk assessments are undertaken as required. Health and Safety induction and training is provided for all involved in project work.

2. Child Protection & Vulnerable Adults

Child Protection and Vulnerable Adults Policies are in place. The Trustees take seriously their responsibility to protect and safeguard the welfare of children, young people and vulnerable adults entrusted to Imagine If’s care, and have all undertaken (or in the case of new trustees have been booked onto) Trustee safeguarding training. One Trustee has also been assigned as the Trustee Safeguarding lead.

All those involved (not just those who have access to children, young people and vulnerable adults) are briefed on their responsibilities and are made fully aware of the organisation’s child protection and vulnerable adults' policy and procedures. Those involved in activities where they may have contact with children, young people or vulnerable adults are required to undergo DBS checks. A Safeguarding Team has been appointed and meets regularly to ensure that the policy is being implemented and to ensure that the policy remains both effective and up to date. Effective processes are in place to escalate any safeguarding issues from the Safeguarding Team to the Trustee Safeguarding Lead to the Trustee Board where appropriate.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

3. Financial Risks

Guidelines are issued to all on proper cash handling procedures and are updated at least once a year. Instructions are issued to avoid making purchases in cash unless it is unavoidable. Internal departmental procedures have been standardised. Departmental records and central accounts are monitored regularly and all departmental budget holders receive monthly budget performance reports.

We receive regular guidance on financial risks from our accountant, the Charity Commission, HMRC and various third sector agencies. This keeps us up to date with newer areas of risk. Our accountant also advises us of any specific areas of weakness that may be identified during the annual independent examination, so that we can take steps to correct or protect against them. The Trustees have also appointed a lead Trustee for finance to ensure the Trustee Board are appropriately sighted on any significant financial risks.

Plans for the future

Our three key success factors for the year ahead are:

  1. Stories of changed lives – all our activities are about people and so stories of lives that have been supported to change are key to our success.

  2. Building partnerships – we recognise that supporting people will often take a range of services and so whether it is strengthening links between projects within the Imagine If Trust portfolio, or effective signposting to other agencies, building partnerships is a core requirement.

  3. Sustainability – whether it is excellent financial management, good charity governance, or effective fundraising, we recognise the need to strengthen sustainability to ensure that we can continue to serve in the years ahead.

  4. 5 -

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

Structure, governance and management

Imagine If Trust is a registered charity and a company limited by guarantee incorporated on 15 May 2012.

Management of Imagine If Trust

The Trustees oversee the legal and financial responsibilities of the Trust, and they meet formally as a board on a regular basis. The trustees also have responsibility for the overall direction and vision of the charity. Day to day responsibility for the running of the charity is delegated to the Chief Executive Officer and the management team working in conjunction with the various project leaders.

Trustees

The trustees, who are also the directors for the purpose of company law, and who served during the year and in recent years were:

Mr Christopher Butland (Resigned 17 July 2025) Mr James Sloan (Resigned 31 December 2024) Mr Nathan Anderson Mr Thomas Baskerville Mr James Burch (Resigned 17 March 2026) Mrs Amanda Hargreaves Mr Mark Wyss (Resigned 26 September 2025) Mrs Helenor Watson (Resigned 24 June 2025) Mr Christopher Holcombe (Appointed 1 January 2026) Mrs Jennifer Mariner (Appointed 9 March 2026)

None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

New Trustees are appointed following interviews and unanimous approval of the existing board. Careful attention is paid to individual skills, experience and organisational needs. Diversity, potential contribution, and conflicts of interest are also key considerations. The overall balance and functioning of the board are also considered.

Management Team

James Sloan (CEO) until December 2024, Jemma Orange (Development Manager and from January 2025 Interim CEO to January 2026) , Helen Ann Atkins (Operations Manager), Jon McCowen (Early Years Manager) Emma Cope (Family Support Manager & Nursery SENCo), Rachel Marshall (Family Support Manager) until October 2025.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

Small company provisions

These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board of trustees

.............................. Mr Christopher Holcombe Trustee Dated: .........................28/05/2026

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2025

The trustees, who are also the directors of Imagine If Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF IMAGINE IF TRUST

I report to the trustees on my examination of the accounts of Imagine If Trust (the charity) for the year ended 31 August 2025.

This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the accounts of the charity 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 examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of 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, 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:

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 financial statements to be reached.

Tony Stanley ACA

Mitchell Charlesworth Chartered Accountants Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ

29.05.2026 Dated: .........................

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2025

Current financial year
Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
36,799
48,413
Charitable activities
4
199,420
188,191
Investments
5
2,130
-
Total income
238,349
236,604
Expenditure on:
Charitable activities
6
249,449
238,851
Total expenditure
249,449
238,851
Net income/(expenditure)
(11,100)
(2,247)
Transfers between funds
(9,604)
9,604
Net movement in funds
9
(20,704)
7,357
Reconciliation of funds:
Fund balances at 1 September 2024
68,882
70,791
Fund balances at 31 August 2025
48,178
78,148		 Total
2025
£
85,212
387,611
2,130
474,953
488,300
488,300
(13,347)
-
(13,347)
139,673
126,326		 Total
2024
£
110,914
389,635
1,603
502,152
465,144
465,144
37,008
-
37,008
102,665
139,673

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) (INCLUDING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 AUGUST 2025

Prior financial year
Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
59,747
51,167
Charitable activities
4
186,700
202,935
Investments
5
1,603
-
Total income
248,050
254,102
Expenditure on:
Charitable activities
6
187,134
278,010
Total expenditure
187,134
278,010
Net income/(expenditure)
60,916
(23,908)
Transfers between funds
(13,146)
13,146
Net movement in funds
9
47,770
(10,762)
Reconciliation of funds:
Fund balances at 1 September 2023
21,112
81,553
Fund balances at 31 August 2024
68,882
70,791		 Total
2024
£
110,914
389,635
1,603
502,152
465,144
465,144
37,008
-
37,008
102,665
139,673

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
Income funds
Restricted funds
20
Unrestricted funds
21		 2025
£
-
68,760
68,760
(17,331)		 £
156,807
51,429
208,236
(81,910)
126,326
78,148
48,178
126,326		 2024
£
3,126
72,179
75,305
(10,644)		 £
160,247
64,661
224,908
(85,235)
139,673
70,791
68,882
139,673

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2025

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025.

The trustees acknowledge their responsibilities for ensuring that the charity 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 company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on .........................28/05/2026

.............................. Mr Christopher Holcombe Trustee

Company registration number 8069756

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Net cash (used in)/ provided by operating
activities
23
Investing activities
Interest received
Net cash generated from investing
activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
2,130
(3,325)		 £
(2,224)
2,130
(3,325)
(3,419)
72,179
68,760		 2024
£
1,603
(3,714)		 £
30,252
1,603
(3,714)
28,141
44,038
72,179

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Imagine If Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is Frontline Centre, 147 Lawrence Road, Liverpool, L15 3HA.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the accounts the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the ‘going concern’ basis of accounting in preparing the accounts.

1.3 Charitable funds

Funds held by the charity are:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the accounts.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.4 Income

Donation and legacy income is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Investment income is recognised on a receivable basis.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods or services are provided). Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

On occasions where the charity received assistance in the form of donated goods and facilities, and the benefit is quantifiable and material, an appropriate amount is included in income and an equivalent amount as expenditure under the relevant heading. The value of services provided by volunteers has not been included in these accounts.

Income from donated services and facilities is included in income at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised when there is no financial cost borne by a third party.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. The irrecoverable element of VAT is included with the item of expenses to which it relates as this cannot be recovered by the charitable company.

Raising funds comprises those costs incurred by the charity in the delivery of fundraising events.

Charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. Also included is Governance costs which are associated with meeting the constitutional and statutory requirements of the charity.

1.6 Tangible fixed assets

Tangible fixed assets are measured at cost and, net of depreciation and any impairment losses. All assets costing more than £1,000 are capitalised at cost.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold buildings 2% p.a. on a straight line basis Fixtures, fittings & equipment 33% p.a. on a straight line basis Computers 33% p.a. on a straight line basis Motor vehicles 25% p.a. on a straight line basis

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.12 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.13 Taxation

The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. Recovery is made of tax deducted from qualifying income and from receipts under Gift Aid. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

When preparing the accounts there were no critical accounting estimates applied.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
11,107
37,709
Grants
25,692
10,704
36,799
48,413
Grants
Frontline Trust
25,692
10,704
25,692
10,704		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
48,816
18,437
51,167
36,396
41,310
-
85,212
59,747
51,167
36,396
41,310
-
36,396
41,310
-		 Total
2024
£
69,604
41,310
110,914
41,310
41,310

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

4 Charitable activities

The relief of The relief of
hardship and hardship and
advancement advancement of
of education education
2025 2024
£ £
Services provided under contract 143,847 120,076
Performance related grants 72,344 126,209
Charitable income 171,420 143,350
387,611 389,635
Analysis by fund
Unrestricted funds 199,420 186,700
Restricted funds 188,191 202,935
387,611 389,635
Performance related grants
Green Pastures - 20,000
National Lottery Community Fund - 23,000
Steve Morgan Foundation 14,583 28,500
Michael And Betty Little Trust 25,000 25,000
Citizens Advice Support Fund 11,140 7,707
ICS 8,134 -
City of Liverpool 8,353 6,305
Benefact Trust 5,134
Medical Missionary News - 5,000
Torus Foundation - 1,000
Onwards homes - 2,380
Together Liverpool - 400
Lloyds Bank Foundation - 3,750
Picton Children Centre - 2,800
Other - 367
Total 72,344 126,209

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

5 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 2,130 1,603
6 Expenditure on charitable activities
2025 2024
£ £
Direct costs
Staff costs 289,033 257,172
Depreciation 3,440 3,440
Premises expenses 60,163 54,215
Repairs and renewals 21,562 12,745
Motor and travel 2,533 10,199
Legal and professional 10,641 12,296
Course and conference expenses 3,903 4,553
Project costs 1,195 566
Office expenses 2,561 2,572
Food, drink and other purchases 43,426 42,440
Sundry expenses 13,352 13,339
451,809 413,537
Grant funding of activities (see note 7) 34,506 49,717
Share of support and governance costs (see note 8)
Governance 1,985 1,890
488,300 465,144
Analysis by fund
Unrestricted funds 249,449 187,134
Restricted funds 238,851 278,010
488,300 465,144

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Grants payable

Grants to institutions:
CRS Church Democratic Republic of Congo
Causeway Charitable Services
Other
Grants to individuals		 2025
£
30,276
125
-
30,401
4,105
34,506		 2024
£
44,417
635
1,595
46,647
3,070
49,717

8 Support costs allocated to activities

8
Support costs allocated to activities
Governance costs
Analysed between:
Governance costs
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2025
£
1,985
1,985
2025
£
1,985
3,440		 2024
£
1,890
1,890
2024
£
1,890
3,440

10 Trustees

A former trustee received remuneration during the year £14,894 (2024 one trustee £37,795) . One trustee was reimbursed expenses during the period for amounts totalling £nil (2024 – one trustee was reimbursed expenses totalling £718).

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

11 Employees

Number of employees

The average monthly number of employees during the year was:

Charitable
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
17
2025
£
268,053
10,278
10,702
289,033		 2024
Number
15
2024
£
236,490
10,487
10,195
257,172

There were no employees whose annual remuneration was £60,000 or more.

12 Tangible fixed assets

Cost
At 1 September 2024
At 31 August 2025
Depreciation
At 1 September 2024
Depreciation charged in the year
At 31 August 2025
Carrying amount
At 31 August 2025
At 31 August 2024		 Freehold
buildings
Fixtures,
fittings &
equipment
Computers
Motor
vehicles
£
£
£
£
172,000
2,500
2,892
8,760
172,000
2,500
2,892
8,760
11,753
2,500
2,892
8,760
3,440
-
-
-
15,193
2,500
2,892
8,760
156,807
-
-
-
160,247
-
-
-		 Total
£
186,152
186,152
25,905
3,440
29,345
156,807
160,247

Kingdom Bank holds a legal charge over 160 Lawrence Road, Liverpool. Kingdom Bank also hold a floating charge over all the furniture used in the property of the charity. At 31 August 2025 the amount owed to Kingdom Bank was £85,320 (2024 - £88,645).

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

13
Financial instruments
Carrying amount of financial assets
Debt instruments measured at cost
Carrying amount of financial liabilities
Measured at cost
14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
15
Creditors: amounts falling due within one year
Notes
Bank loans
17
Other taxation and social security
Trade creditors
Other creditors
Accruals
16
Creditors: amounts falling due after more than one year
Notes
Bank loans
17		 2025
£
68,760
93,275
2025
£
-
-
-
2025
£
3,410
5,966
2,318
1,589
4,048
17,331
2025
£
81,910		 2024
£
75,305
94,858
2024
£
140
2,986
3,126
2024
£
3,410
1,021
970
1,389
3,854
10,644
2024
£
85,235

The bank loan is secured by a legal charge over the charity's property as detailed in the fixed asset and borrowing notes.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

17
Loans and overdrafts
2025
£
Bank loans
85,320
Payable within one year
3,410
Payable after one year
81,910
Amounts included above which fall due after five years:
Payable by instalments
62,820
The bank loan is secured by legal charge over the charity's property in Lawrence Road, Liverpool.
18
Retirement benefit schemes
2025
Defined contribution schemes
£
Charge to profit or loss in respect of defined contribution schemes
10,702		 2024
£
88,645
3,410
85,235
75,005
2024
£
10,195

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025 2024
£ £
Within one year 6,144 6,075

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 September
2023
£
Food Hub
4,870
Love Congo
(7,316)
Christmas meal
550
Genesis Housing
77,567
Linking lives
1,250
Family Matters
(5,186)
Acts 435
740
Sticky Fingers Nursery
1,930
Sticky Fingers
-
Catalyst
2,618
After School
5,174
Other funds
(644)
81,553		 Movement in funds
Income
Expenditure
£
£
20,212
(25,082)
39,614
(39,614)
-
-
28,520
(46,087)
6,654
(2,893)
26,405
(25,559)
3,535
(4,211)
122,876
(124,806)
726
(726)
2,500
(2,913)
3,060
(6,119)
-
-
254,102
(278,010)		 Transfers
Balance at
1 September
2024
£
£
-
-
7,316
-
-
550
-
60,000
-
5,011
5,186
846
-
64
-
-
-
-
-
2,205
-
2,115
644
-
13,146
70,791		 Movement in funds
Income
Expenditure
£
£
12,719
(22,323)
31,254
(30,351)
-
-
5,765
(5,765)
8,353
(3,390)
15,933
(16,779)
1,915
(1,979)
143,847
(143,847)
-
-
1,500
(1,183)
15,318
(13,234)
-
-
236,604
(238,851)		 Transfers
Balance at
31 August
2025
£
£
9,604
-
-
903
-
550
-
60,000
-
9,974
-
-
-
-
-
-
-
-
-
2,522
-
4,199
-
-
9,604
78,148		 Transfers
Balance at
31 August
2025
£
£
9,604
-
-
903
-
550
-
60,000
-
9,974
-
-
-
-
-
-
-
-
-
2,522
-
4,199
-
-
9,604
78,148
78,148

Food Hub is a project offering those on low income an opportunity to buy weekly groceries at discounted prices.

Love Congo is a project providing support to our partners working in the Democratic Republic of Congo. This funding includes the Medical Centre which is an aspect of our Love Congo work specifically aimed at developing a medical centre in Kasindi – near the Ugandan border. This fund also includes Child Support which supports pupils and teachers in a school in DR Congo.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

20 Restricted funds

(Continued)

Christmas Meal is a project providing a meal on Christmas Day each year for those who would otherwise be alone or unable to have one.

Genesis Housing is a project that provides supported accommodation for those who would otherwise be homeless. Included in the funds balance is a donation of £60,000 from the Steve Morgan Foundation towards the purchase of a property to be used for the project. These funds are restricted to being used for this project for a period of seven years from April 2021 at which point they will become unrestricted. If the property is sold prior to the end of this seven year period then the monies will need to be returned to the donor.

Linking Lives, Forever young is a project that matches isolated individuals with those who have some time to befriend and support them.

Family Matters is a project that provides support to families who would otherwise require more significant intervention from Social Care.

Acts 435 is a partner project that connects to those able to make donations with one off financial assistance.

Sticky Fingers Nursery income is provided by Liverpool City Council which represent the fees for early years education to pre-school children.

Catalyst relates to an internal allocation for staff support and wellbeing.

After school club started in September 2021 in response to the Covid pandemic and many local families needing extra provision. We now run a weekly session for school years 3-8 with an average of 60 children each week.

Other funds relates to smaller projects that are generally short term and meet a specific need.

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
Incoming
Incoming		 Resources Resources Resources **Transfers ** At 31 August
September
resources		 expended 2025
2024
£ £ £ £ £
General funds 68,882 238,349 (249,449) (9,604) 48,178
Previous year: At 1
Incoming		 Resources **Transfers ** At 31 August
September
resources		 expended 2024
2023
£ £ £ £ £
General funds 21,112 248,050 (187,134) (13,146) 68,882
22 Analysis of net assets between funds
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Fund balances at
31 August 2025
are represented
by:
Tangible assets 96,807 60,000 156,807 100,247 60,000 160,247
Current assets/(liabilities) 33,281 18,148 51,429 53,870 10,791 64,661
Long term liabilities (81,910) - (81,910) (85,235) - (85,235)
48,178 78,148 126,326 68,882 70,791 139,673
23 Cash generated from operations 2025 2024
£ £
Net (expenditure)/ income for the year (as per the statement of financial
activities) (13,347) 37,008
Adjustments for:
Investment income recognised in the statement of financial activities (2,130) (1,603)
Depreciation and impairment of tangible fixed assets 3,440 3,440
Movements in working capital:
Decrease/(increase) in debtors 3,126 (1,600)
Increase/(decrease) in creditors 6,687 (6,993)
Cash (absorbed by)/generated from operations (2,224) 30,252

IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

24 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025 2024
£ £
Aggregate compensation 41,347 37,795

During the year the company entered into the following transactions with related parties:

Frontline Trust is an independent charitable company. During the year Frontline Trust has assisted Imagine If Trust by providing grants.

Until 31 December 2024 James Sloan was a trustee and was also employed as CEO of the charity. He is also a trustee of New Hope Trust who are partnering with Imagine If Trust in developing a medical centre in the DRC. Imagine If Trust provided grants (see note 7).

Trustees donated a total of £Nil (2024: £1,240) during the year.

There were no other related party transactions in the year.

25 Company limited by guarantee

Imagine If Trust is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £1.