Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
Registered number: 08093052
Charity number: 1153130
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Company, its Trustees and Advisers
Trustees. Report
2-10
Independent Auditors. Report to the Members
Consolidated Statement of Financial Activities
Consolidated Balance Sheet
16
Company Balance Sheet
Consolidated Statement of Cash Flows
17
18
Notes to the Financial Statements
19-39

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 JUNE 2025
Trustees
S Owilly
R Ling
A Parekh
D Porteous
P M L Freedman
M Frost (appointed 18 September 2025)
Company registered
number
08093052
Charity registered
number
1153130
Registered office
The Old Rectory
Church Street
Weybridge
Surrey
Iff13 8DE
Principal operating
office
Working from Southwark
32 Blackfriars Road
London
SE18PB
Chief executive officer
M Osman
Independent auditors
Buzzacott Audit LLP
130 Wood street
London
EC2V 6DL
Bankers
Co-operative Bank
Skelmersdale
WN86NY
Page 1

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 30 JUNE 2025
The Trustees (who are also directors of the Company for the purposes of the Companies Act) present their
annual report together with the financial statements of Spring Impact ("the Charity") for the year ending 30 June
2025. The Trustees confirm that the annual report and financial statements of Spring Impact comply with
current statutory requirements, the requirements of Spring Impact's governing documents and the provisions of
the Statement of Recommended Practice (SORP), Accounting and Reporting by Charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102), as updated and effective at the reporting date.
In accordance with company law, this report also constitutes the directors, report for the purposes of the
Companies Act 2006.
OBJECTIVES AND ACTIVITIES
a. POLICIES AND OBJECTIVES
Spring Impact is govemed by its Articles of Association, which set out its charitable objects. These objects
define the purpose for which the charity exists and provide the framework within which the Trustees operate.
The Trustees translate the Charity's objects into clear strategic objectives, which are reviewed periodically and
inform the Charity's annual planning process. In setting these objectives, the Trustees consider the needs of
beneficiaries, available reSoUr￿s, and the Charity's capacity to deliver impact.
The Charity's principal activities during the year were designed to further these objectives and thereby advance
the Charity's charitable purposes. These activities primarily involved the delivery of ServI￿S to beneficiaries,
alongside a limited programme of grant-making (regranting) to organisations and initiatives aligned with the
Charity's objects.
Spring Impact focus is on one specific issue= scaling social and environmental impact. We believe that solutions
with proven social and environmental impact need to operate at a much greater scale to truly address significant
societal and environmental problems.
We know solutions with proven impact are out there,. what they need is a broader, bigger reach while
maintaining depth of impact. We believe transfonnational change will be achieved by building on what already
works rather than reinventing the wheel.
As such, we partner with organisations that have demonstrated their solutions. tangible impact to expand their
reach and realise their aspirations. We believe many of these solutions have the potential to address some of
the world's biggest challenges.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
OBJECTIVES AND ACTIVITIES (continued)
b. ACTIVITIES FOR ACHIEVING OBJECTIVES
We partner with mission driven organisations and funders to scale their impact sustainably. Our vision is a world
where social and environmental problems are addressed at scale, and our mission is to scale up solutions
successfully and sustainably.
We have pioneered methodologies to unpack and demystify the complex area of scaling impact. We help our
partners to overcome challenges and resolve critical questions, wherever they are on their journey. We help
teams build the strategies, knowledge and mindsets they need to tackle problems at scale.
We cary out four main activities to work towards our charitable mission..
Consultancy: We deliver 1..1 consultancy, supporting our clients on their joumey to creating impact at scale.
This includes supporting clients to build ambitious scale strategies, developing and validating solutions that
have true potential to achieve impact at scale, and designing and testing the models required to realise these
ambitions. Where clients have already reached scale, we help them review their operations and delivery
mechanisms to consider how they can be strengthened to support their goals. Our consultancy work is delivered
through workshops, field visits, staff meetings, reports and financial model development.
Training and tools: We run a variety of training courses for leaders in the social and environmental sector who
want to think strategically about how to scale impact. This includes the Leaders of Scale, Getting Scale Ready,
and Lean Impact for Scale training programmes, as well as shorter training courses we are developing for
organisations earlier in their thinking about scale.
Programmes: We run programmes supporting cohorts of organisations to solve problems at scale. Our
programmes are delivered in partnership with funders who are seeking to tackle a specific problem at scale
andlor provide more effective scale support to the sector. Our programmes combine consultancy, training, and
collective impact interventions to bring people and organisations together to solve problems at scale.
Systems transfomiation: We seek to shift nomis, mindsets and incentives to create the conditions for
effective scale.
c. PUBLIC BENEFIT
In setting Spring Impact's objectives and planning its activities, the Trustees have had due regard to the Charity
Commission's guidance on public benefit.
In reviewing and discussing the annual plan and regular updates throughout the year, the Trustees considered
how such activities contributed to the Charity's purposes and the benefits provided to beneficiaries. The
Trustees regularly review performance information and client feedback to ensure that activities remain relevant,
accessible and effective, and confirm that the Charity's activities during the year were carried out for the public
benefit and include below some key highlights and examples of key projects and charitable activities delivered
throughout the year. The Charity's future plans will be in line with currently delivered activities and will keep
being regularly reviewed to ensure plans and delivery continue to contribute to the Charity's purposes and
benefits provided to the beneficiaries.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
ANNUAL HIGHLIGHTS
a. CONSULTING
Love146 Phase 1 (US): We kicked off a project to support Love146, an organisation that is committed to
ending child trafficking and exploitation, to clarify and refine their scale goals and objectives and develop, test
and refine the scale strategy and model for Not a Number
Power to Decide IUS): providing support in Testing and Leaming methods, and helping to achieve progress
towards their mission of sexual and reproductive well-being for all, including exploring financial sustainability
strategies.
Centering Healthcare Institute IUS)". training the CHI team in Testing and Leaming methods, and helping to
progress towards their mission of transfoming healthcare delivery and outcomes for all families.
United States Digital Reserve IUS): supporting USDR to improve their financial sustainability at scale. USDR
helps governments, nonprofits, and public entities respond quickly to critical public needs.
NICHQ {US}: extending support for the team to more deeply understand Testing and Leaming methods, and
explore key risks and unknowns related to their Community-centered Hospital Initiative ICCHI) to improve black
maternal and infant health equity.
COOP Careers (US): Lean testing support for graduate employment initiatives in the US.
Local Storytelling Exchange (UK): supporting Local Storytelling Exchange to design a scale strategy to
scale their work telling local stories of the green transition across the UK.
School Food Matters {UK) - supporting School Food Matters to develop a scale model for its Healthy Zones
programme, which aims to improve school nutrition in the UK.
World Jewish Relief (UK): Lean testing for a refugee employment programme as part of the Lean Institute
programme.
Scale Accelerator: Preventing Childhood Sexual Violence in the UKIEU: consultancy support to organisations
supported in this programme, including Protect Children in Finland, Empowering Children in Poland, Lifting
Limits in the UK, Cybersafe Kids in Ireland.
Network for Empowered Aid Response (Global): Consultancy support to develop a scale strategy, model
and implementation plan for NEAR'S Localisation Labs, and to support the design of a Networked Financing
Mechanism for localised humanitarian aid funding.
KUWAZA {Tanzania): we are supporting a consortium of three partners to develop and implement a scale
model for the Kuwaza project, which focuses on the prevention of sexual Violen￿ against children.
Mastercard and UNDP (Ghana): providing lean impact, learning, and strategic advisory for Mastercard
Foundation Young Africa Innovates program, implemented by UNDP and local partners.
CyberRwanda (Rwanda): supporting the yLabs team to develop a scale strategy and model for scaling
CyberRwanda, a digital platform that aims to improve the health and livelihoods of urban and peri-urban
adoleS￿ntS1l2-l9 years) by supporting them at every step of their healthcare journey.
Bantwana Initiative (Uganda): Consultancy support to scale their SAFE programme in preventing violence
against children in Uganda
DGMT (South Africa): Lean testing support to DGMT and the Westem Cape government in South Africa for
the Cash plus Care initiative (low birth weight vouchers for mothers).
IMBE (South Africa): Lean testing support for IMBE programme to reduce the cost of protein rich foods in
ECD centres in South Africa
Collective X {South Africa): Consulting support to build a scale strategy, and organisational design for
transforming the entry level digital skills market in South Africa
Zimbabwean Catholic Bishops Conference (Zimbabwe): developing a scale strategy and model for ZCBC
to scale the Safe Schools Programme
b. TRAINING
We continued to deliver our existing training programmes- Getting Scale Ready and Leaders of Scale - as well
as expand our suite of training offers through the introduction of a Lean Impact for Scale training course.
Through these programmes. we trained 624 individuals from 220 organisations over the year, a significant
growth compared to FY2023124 and above annual targets.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
ANNUAL HIGHLIGHTS (continued)
c. PROGRAMMES
This year, we launched three new programmes of varying lengths, completed the Women's Empowerment
Scale Accelerator in Southem Africa and the Lean Institute, and continued delivery of three existing
programmes.
These new programmes were designed to respond to emerging needs and extend Spring Impact's reach
across organisations and systems. They indude=
Scale Accelerator: Women's Economic Empowennent in East Africa focussed on supporting 6
organisations with up to 2 years of consultancy support and providing scale training to a further 8 organisations.
Scaling Essentials, a two phase programme of 6 months for a global cohort of 53 organisations providing
both scale training and tailored scale readiness recommendations.
Building Organisational Health for Scale where a combination of scale training and tailored consultancy
was provided over 12 months to organisations focussed on catalysing climate action.
The three continuing programmes are..
Scale Accelerator: Preventing Childhood Sexual Violence where most recent accomplishments include
publishing a research report (that has been downloaded over 250 times) and supporting 45 organisations
through a blend of consultancy and training.
Scale Accelerator: Solid Ground for Children where 11 prototypes have been co<reated with Romani
families through the social innovation labs and 4 organisations continue to receive deep consulting support.
Transfomi Collective: Rooted Futures where four mission-driven organisations and people with lived
experience of family separation are untied to build eviden￿, shift public support, and advocate for policy and
funding that keeps families together.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
ANNUAL HIGHLIGHTS (continued)
d. OTHER POLICIES
Grant-making l Regranting
As part of donor-funded programmes, Spring Impact undertakes limited grant-making by re-granting funds to
partner organisations whose activities align with the Charity's charitable objects and donor agreements. Grant-
making is not a primary activity of the Charity and is undertaken only where it supports the delivery of agreed
donor-funded programme outcomes.
Partner organisations are selected through due diligence pro￿sseS to assess their legal status, govemance,
financial management and capacity to deliver the intended activits'es. Grant awards are approved in accordance
with delegated authorities.
Grant agreements set out the purpose of the funding, reporting requirements and monitoring arrangements.
The Charity monitors the use of regranted funds through narrative and financial reporting to ensure funds are
applied for their intended charitable purposes and in line with donor requirements.
Fundraising (Section 162A)
Spring Impact does not cary out public fundraising appeals, campaigns or regular donation programmes. The
majority of the Charity's income is derived from fees paid by clients for the services provided, supplemented by
grant funding from trusts, foundations and other donors aligned with the Charity's objectives.
As Spring Impact does not engage in direct public fundraising, it does not use professional fundraisers or
commercial participants. The Trustees are therefore satisfied that the risk of undue pressure on members of the
public, including vulnerable people, is minimal. No fundraising complaints were received during the year.
STRUCTURE, GOVERNANCE AND MANAGEMENT
a. CONSTITUTION
Spring Impact is registered as a charitable company limited by guarantee number 1153130 and constituted
under a Memorandum of Association.
The principal objects of Spring Impact are=
The promotion of the efficiency and effectiveness of charities and the effective use of charitable
resources through..
The provision of services, including but not limited to research, advice and consultancy services to
individuals, charities andlor other organisations. and
The promotion of the replication, systematisation and increased efficiency and reach of successful
charitable projects.
Such charitable purposes for the public benefit are exclusively charitable according to the laws of
England and Wales as the Trustees may, from time to time, determine.
b. METHOD OF APPORTIONMENT OR ELECTION OF TRUSTEES
The oversight and governan￿ of the Charity is the responsibility of the Trustees. Trustees are recruited through
a combination of open advertisement and targeted approaches, in line with the Charity's Articles of Association.
New Trustees are either elected at the general meeting or co-opted by the Board to fill vacancies be￿een
meetings. The Trustees are responsible for setting the strategic direction of the Charity, monitoring
performan￿, ensuring compliance with legal and regulatory requirements, and safeguarding the Charity's
assets and reputation.
c. GOVERNANCE, DECISION-MAKING AND RISK
The Trustees are responsible for the overall govemance. strategic direction and financial sustainability of the
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
ANNUAL HIGHLIGHTS (continued)
charity. They meet regularly to set strategy, review operational perforrnan￿, and make decisions on significant
matters, including Servi￿ delivery and financial commitments.
Day-to-day management is delegated to the senior management team within a framework of policies and
delegated authorities approved by the TrUSt￿s.
The Trustees have identified and reviewed the principal risks facing the charity and are satisfied that appropriate
systems and controls are in pla￿ to manage these risks. Key risk management measures include regular
financial reporting, budget monitoring, safeguarding and compliance oversight, and the maintenance of
appropriate reserves. The risk register is reviewed periodically and updated as necessary.
d. ORGANISATION STRUCTURE
Legal control of Spring Impact is in the hands of the Board of Trustees and Trustees have been appointed as
directors of the company. Trustees are either the original subscribers to the company's Memorandum of
Association orjoined the Board by election at Trustee meetings or by written resolution signed by all Trustees.
The Board of Trustees works with Spring Impact's CEO on strategic development and policy implementation.
The Trustees re￿1ve periodic training on Trustee responsibilities and are made aware of relevant training
opportunities. The CEO and the Managing Director (Key Management Personnel} carry out one-on-one
inductions with new Trustees.
Subsidiaries
Spring Impact (Trading) Ltd= Spring Impact (Trading) Ltd is a wholly owned subsidiary of Spring Impact.
The subsidiary was established to undertake trading activities and manage projects that fall outside the
charitable activities of the parent charity. During the year, Spring Impact (Trading) Ltd was dormant and did not
undertake any trading or project activity. As a result, no profits were generated or donated to the parent Charity
Spring Impact.
Spring Impact Inc.: The US entity Spring Impact Inc.'s bylaws state that the UK Charity Spring Impact is a
member of Spring Impact Inc and has powers to nominate or remove Spring Impact Inc board of directors.
Spring Impact Inc.'s articles of incorporation note that one of its purposes is to support the UK Spring Impact
Charity. Spring Impact Inc. was awarded non- profit status by the US Internal Revenue Service on the basis that
Spring Impact Inc. is a supporting organisakn'on of the UK Spring Impact Charity.
Spring Impact Inc. follows the same objects as Spring Impact in the UK, specifically=
The promotion of the efficiency and effectiveness of charities and the effective use of charitable resources
through..
The provision of servI￿s, including but not limited to research. advi￿ and consultancy services
individuals, charities andlor other organisations. and
The promotion of the replication, systematisation and increased efficiency and reach of successful charitable
projects.
to
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
FINANCIAL RISK MANAGEMENT AND POLICIES
a. FINANCIAL REVIEW
Spring Impact's consolidated income for the year was £3,522,146, an increase of 5 % on the prior year (2024..
£3,345,478). There has been a consolidated surplus for the period of £254,173 which represents a continued
healthy position following the FY23124 surplus of £285,463. This is due to our successful investment in larger
programmes and a broader portfolio of projects.
At the year end, the charity held cash and bank balances of £1,032,302 (2024.. £1,200,093), which provided
sufficient liquidity to meet operational requirements. Total debtors and accrued income of £582,882 (2024..
£444,465} include amounts due from clients for ServI￿S delivered and from donors in respect of restricted
grants. Creditors and deferred income of £469,912 (2024.. £751,223) relate primarily to amounts received in
advance for services or grants to be delivered in the next finanaal year.
The Charity's funds remain strong, with £1,149,953 held as unrestricted funds to support ongoing operations
{2024.. £895,780). The Trustees consider the Charity's overall financial position to be robust, with adequate
resources to continue delivering its charitable objectives.
The principal funding sources of Spring Impact in the reporting period were £2,318,388 from Restricted grants
and £1,203,758 of contracted income for our work on scaling social impact.
b. GOING CONCERN
After making appropriate enquiries. the Trustees have a reasonable expectation that Spring Impact has
adequate resources to continue in operational existen￿ for the foreseeable future. For this reason, they
continue to adopt the going con￿rn basis in preparing the financial statements. Further details regarding the
adoption of the going concern basis can be found in the Accounts'ng Policies.
c. PRINCIPAL RISKS AND UNCERTAINTIES
The Trustees confirm that they have reviewed the major risks to which Spring Impact might be exposed and
identified plans and strategies to mitigate those risks.
The principal risks are..
Loss of key staff - Mitigation measures include the review of our pay and progression framework and policy,
systemising our internal pro￿sseS and our approach to delivering client assignments, regularly reviewing our
resource requirements, annually measuring staff engagement and taking measures to address the outcome of
staff engagement surveys.
Health and safety incidents as staff travel on field visits - Mitigation measures include.. refresh of our travel
policy, travel safety training for all staff, staff implementing the policy for all work travel, including completion of a
risk assessment as needed.
Failure to meet legal, employment and tax requirements or maintain appropriate insuran
Mitigation
measures include continuing to engage specialist legal and HR advi￿, appropriate legal registrations in places
we work, and regularly reviewing nsks with the Board.
Financial sustainability - Mitigation measures include continuous monitoring of our financial position, our
reseNes policy noted below, dedicated resources to pursue business development and funded programmes,
market research and outreach activities.
Data & cybersecurity risks - Mitigation measures include partnering with a qualified IT provider to implement
and monitor cyber security measures and controls in our systems, staff training,. continuous awareness raising
on cyber security risks and following cyber security protocols,. maintaining cyber security insurance.
An indemnity policy is in pla￿ to cover the negligen￿ or default of trustees or employees.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
d. RESERVES POLICY
The Charity's Reserves Policy is to retain sufficient resources to..
maintain core operations and activities for a minimum period of three months,. and
meet existing commitments to charitable projects.
The policy is reviewed at least annually in light of the Charity's changing circumstances. Ongoing reserves are
monitored by the Treasurer and Chief Executive Officer and formally reported to the Trustees at each meeting,
alongside a cash flow forecast.
At the year end, the total reserves were £1,149,953 (2024: £895,780), comprising £1,149,953 of unrestricted
funds {2024.. £895,780) and no restricted funds {2024. £nil). The expected level of reserves in line with the
minimum three-month period was approximately £900,000. Therefore, reserves at year end exceeded the policy
minimum and provide Spring Impact with sufficient reSoUr￿S to continue delivering its charitable objectives.
Cash and other liquid resources were sufficient to meet short-term liabilities and commitments, giving the
Trustees Confiden￿ in the Chanty's financial position.
e. REMUNERATION POLICY
Delivery of Spring Impact's charitable vision and purpose is primarily dependent on our staff. Personnel costs
are the single largest element of charitable expenditure. Spring Impact is committed to ensuring that we pay our
staff fairly and in a way that ensures we attract and retain the right skills to have the greatest impact in delivering
our charitable objectives.
Spring Impact has a Remuneration Committee, which meets annually and oversees and approves the pay
policy for all staff. It comprises the Spring Impact Chair of Trustees and other Trustees. The committee's
responsibilities are to oversee and approve annual pay increases and benefits for staff in line with the
organisational pay policy and pay bands.
The objective of the organisational pay policy is to ensure that the Chief Executive and staff team are provided
with appropriate incentives to encourage enhan￿d performance and are, fairly and responsibly, rewarded for
their contributions to the success of Spring Impact. We pay at least the London Living Wage for all our staff,
and we are Living Wage Foundation accredited.
f. FINANCE COMMIThEE
Spring Impact has a Finance Committee composed of the Treasurer, another Trustee, the Chief Executive
Officer, Finance Director and a volunteer accountant with tax expertise. The committee's responsibilities are to
review quarterly management accounts and consider and make recommendations to the Board of Trustees on
all finance matters. The Board of Trustees is responsible for the final decision.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
Statement of Trustees. responsibilities
The Trustees {who are also the directors of the Company for the purposes 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. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Group and the Company and of their incoming resources and application of
resources, including their income and expenditure, for that period. In preparing these financial statements, the
Trustees are required to=
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102).,
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial statements,.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial
position of the Group and the Company 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 Group and the Company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that..
so far as that Trustee is aware, there is no relevant audit information of which the charitable group's
auditors are unaware, and
the Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charitable group's auditors are aware of that
information.
Auditors
The auditors, Buzzacott Audit LLP, have indicated their willingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 19 February 2026 and signed on their behalf by..
Signed by:
83414AtJ...
ree
man
Chairman and trustee
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SPRING IMPACT
Opinion
We have audited the financial statements of Spring Impact (the 'charitable parent company'} and its subsidiaries
(the 'group') for the year ended 30 June 2025 which comprise the group statement of financial activities, the
group and charitable parent company balan￿ sheets and statement of cash flows, the principal accounting
policies and the notes to the financial statements. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements=
give a true and fair view of the state of the group's and of the charitable parent company's affairs as at 30
June 2025 and of the group's income and expenditure for the year then ended;
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS {UK)) and applicable
law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit
of the financial statements section of our report. We are independent of the group in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material Un￿rtaIntieS relating to events or
conditions that, individually or collectively, may cast significant doubt on the group and charitable parent
company's ability to continue as a going concem for a period of at least ￿e1ve months from when the financial
statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the
relevant sections of this report.
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Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SPRING IMPACT (CONTINUED)
Other infomiation
The trustees are responsible for the other information. The other infomation comprises the information included
in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
financial statements does not cover the other information and, except to the extent othemise explicitly stated in
our report, we do not express any form of assuran￿ conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other infomation is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be matenally misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we condude that there is a material misstatement of this other information, we are
required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report, which is also the directors, report for the purposes of
company law for the financial year for which the finanaal statements are prepared is consistent with the
financial statements- and
the trustees, report, which is also the directors. report for the purposes of company law has been
prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the charitable parent company and its
environment obtained in the course of the audit, we have not identified material misstatements in the trustees,
report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion..
adequate accounting records have not been kept by the charitable parent company, or returns adequate
for our audit have not been re￿IVed from branches not visited by us- or
the group and charitable parent company financial statements are not in agreement with the accounting
records and retums., or
certain disclosures of trustees, remuneration specified by law are not made" or
we have not re￿iVed all the infomation and explanations we require for our audit.
Page 12

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SPRING IMPACT (CONTINUED)
Responsibilities of trustees
As explained more fully in the trustees. responsibilities statement, the trustees (who are also the directors of the
charitable company for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
trustees determine is ne￿SSary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group's and the charitable
parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going cOn￿M basis of accounting unless the trustees either intend to liquidate the group
or the charitable parent company or to cease operations, or have no realistic alternative but to do so.
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are InStan￿S of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our prO￿dureS are capable of detecting irregularities,
induding fraud is detailed below..
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-
we identified the laws and regulations applicable to the charitable company and group through
discussions with trustees and other management, and from our knowledge and experien￿ of the sector.,
we focused on specific laws and regulations which we considered may have a direct material effect on
the financial statements or the operations of the charitable company, including the Charities Act 2011,
Companies Act 2006 and those that relate to data protection legislation and employment legislation-
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal Corresponden￿., and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non<ompliance throughout the audit.
We assessed the susceptibility of the charitable company's financial statements to material misstatement,
including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was sUs￿ptibIlity to fraud, their
knowledge of actual, suspected and alleged fraud; and
considering the intemal controls in pla￿ to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships-
tested journal entries to identify unusual transactions-
assessed whether judgements and assumptions made in detemining the accounting estimates were
indicative of potential bias- and
used data analytics to investigate the rationale behind any significant or unusual transactions.
In response to the risk of irregularities and non-complian￿ with laws and regulations, we designed procedures
which included, but were not limited to=
Page13

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF SPRING IMPACT (CONTINUED)
agreeing financial statement disclosures to underlying supporting documentation-
reviewing the minutes of meetings of those charged with governan￿.,
enquiring of management as to actual and potential litigation and claims- and
reviewing any available correspondence with the charitable company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if
any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
-uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditor's report and for no
other purpose. To the fullest extent pemitted by law, we do not a￿pt or assume responsibility to anyone other
than the charitable company and the charitable company's members as a body, for our audit work, for this
report, or for the opinions we have fomed.
Peter Mackereth (Senior Statutory Auditor)
for and on behalf of
Buzzacott Audit LLP
130 Wood street
London
EC2V 6DL
Date" 19 February 2026
Page 14

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 JUNE 2025
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Total
funds
2024
Note
Income from:
Charitable activities
2.318.388
1.194,180
9,578
3.512,568
9,578
3,341,364
4,114
Investment income
Total income
2,318,388
1,203,758
3,522,146
3,345,478
Expenditure on:
Raising funds
Charitable activities
206,638
660,912
82,035
206,638
2,979,300
82,035
296, 990
2,644,079
118,946
2.318.388
Governance costs
Total expenditure
2,318,388
949,585
3,267,973
3,060,ot5
Net movement in funds
254,173
254,173
285,463
Reconciliation of funds:
Total funds brought forward
Net movement in funds
895,780
254,173
895,780
254,173
610,317
285,463
Total funds carried forward
1,149,953
1,149,953
895, T80
The Consolidated Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 19 to 39 form part of these financial statements.
Page15

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
REGISTERED NUMBER: 08093052
CONSOLIDATED BALANCE SHEET
AS AT 30 JUNE 2025
Restated
2024
2025
Note
Fixed assets
Tangible assets
15
4,681
2,445
4,681
2,445
Current assets
Debtors
17
582.882
1,032,302
444, 465
1,200, 093
Cash at bank and in hand
1.615.184
1, 644, 558
Current liabilities
Creditors.. amounts falling due within one
year
18
(469,912)
(751, 223)
Net current assets
1.145,272
893,335
Total net assets
1,149,953
895, 780
Charity funds
Restricted funds
20
Unrestricted funds
20
1,149,953
895, 780
Total funds
1.149,953
895, 780
The financial statements were approved and authorised for issue by the Trustees on 19 February 2026 and
signed on their behalf by..
Signed by:
Signed by:
gDEG2DE3B3414AD...
P M L Freedman
CA8A4T6620BD405...
D Porteous
The notes on pages 19 to 39 form part of these financial statements.
Page 16

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
REGISTERED NUMBER: 08093052
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
Restated
2024
2025
Note
Fixed assets
Tangible assets
Investments
15
4,125
1,165
16
4,126
1,166
Current assets
Debtors
17
508,477
562.660
1,094,816
126,617
Cash at bank and in hand
1,071,137
1,221,433
Current liabilities
Creditors.. amounts falling due within one
year
18
(425.913)
(716,245)
Net current assets
645,224
505, 188
Total net assets
649,350
506,354
Charity funds
Restricted funds
Unrestricted funds
649,350
506,354
Total funds
649,350
506, 354
The financial statements were approved and authorised for issue by the Trustees on 19 February 2026 and
signed on their behalf by..
Signed by:
Signed by:
414AD...
p rfeFi&&a'th..
8A476820BD485...
eous
The notes on pages 19 to 39 form part of these financial statements.
Page17

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
2025
2024
Cash flows from operating activities
Net cash used in operating activities
1164,596) (1, 354, 806)
Cash flows from investing activities
Interest receivable and similar income
Purchase of tangible fixed assets
9,146
14.413)
4,114
(4,485)
Net cash provided byl(used in) investing activities
4,733
(371)
Net cash (oufflow) brought forward
1159.863) 11.355.177)
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Change in cash and cash equivalents due to exchange rate movements
1159.863) 11.355.177)
1,200,093
17,928)
2, 555,270
Cash and cash equivalents at the end of the year
1,032,302
1, 200,093
The notes on pages 19 to 39 form part of these financial statements
Page18

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
General information
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have
share capital. Each of the trustees is liable to contribute an amount not ex￿edIng £1 towards the assets
of the charity in the event of liquidation.
The address of its registered Offi￿ is..
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
The principal place of business is=
Working From Southwark
32 Blackfriars Road
London
SE18PB
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordan￿ with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practi￿ 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), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Spring Impact meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otheNise stated in the relevant
accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balan￿ Sheet
consolidate the financial statements of the Company and its subsidiary undertaking. The results of
the subsidiary are consolidated on a line by line basis.
The Company has taken advantage of the exemption allowed under section 408 of the Companies
Act 2006 and has not presented its own Statement of Financial Activities in these financial
statements. The net income for the year amounted to £142,996 (2024 . £38,776).
A subsidiary is an entity controlled by the charity. Control is achieved where the charity has the
power to govem the financial and operating policies of an entity so as to obtain benefits from its
activities.
Inter-company transactions, balances and unrealised gains on transactions be￿een the charity and
its subsidiaries, which are related parties, are eliminated in full.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with
the policies adopted by the group.
Page19

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Accounting policies (continued)
2.2 Going concern
The trustees consider that there are no material uncertainties about the group's ability to continue as
a going cOn￿M nor any significant areas of Un￿rtaInty that affect the carrying value of assets held
by the group. Accordingly, the financial statements have been prepared on a going concern basis,
as the trustees expect the group to continue in operational existen￿ for the foreseeable future.
2.3 Income and endowments
All income is recognised once the group has entitlement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably. All income is
shown net of value added tax.
Donations and grants
Donations and grants receivable are recognised when the group has entitlement to the funds and
any conditions attached to the income have been met. Where income is subject to performance-
related conditions or specific deliverables, entitlement is deemed to arise only when those conditions
are satisfied. Amounts re￿iVed in advance of meeting such conditions are recognised as deferred
income within creditors until the criteria for income recognition are met.
Grants re￿iVed for specific purposes are recognised as restricted income where the terms of the
funding impose restrictions on the use of the funds. Grants without donor-imposed restrictions are
recognised as unrestricted income.
Performance related grants are presented under income from charitable activities where the
conditions relate to the fulfillment or provision of a servi￿.
Income from charitable activities
Income from charitable activikn'es principally comprises consultancy and programme delivery income
earned through the provision of ServI￿S aligned to the group's charitable objectives. Such income is
recognised as the related services are delivered in accordance with contractual agreements. Where
contracts span more than one accounting period, income is recognised based on the stage of
completion of the relevant projects at the reporting date, to the extent that entitlement has arisen.
Investment income
Interest on deposit funds held is included when receivable and the amount can be measured reliably
by the group which is normally upon notification of the interest paid or payable by the bank.
2A Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to
the applicable expenditure heading that aggregate similar costs to that category. Where costs
cannot be directly attributed to particular headings they have been allocated on a basis consistent
with the use of resources, with ￿ntral staff costs allocated on the basis of time spent, and
depreciation charges allocated on the portion of the asset's use. Other support costs are allocated
based on the spread of staff time.
Page 20

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Accounting policies (continued)
2A Expenditure (continued)
All resources expended are inclusive of irrecoverable VAT.
Raising funds
These costs comprise expenditure incurred in securing voluntary income and programme income,
including costs directly attributable to fundraising activities and the management of funding
relationships. This includes direct fundraising costs, allocated staff costs and an appropriate
allocation of support costs that relate to income generating activities. Costs are allocated to raising
funds where they are incurred wholly for that purpose or where shared, on a basis consistent with
the use of reSoUr￿s.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them. Re-grant expenditure is
recognised when the Group has a present legal or constructive obligation to make the payment,
typically when a grant agreement is in place and the relevant conditions for payment have been met.
Where re-grants are subject to performance or delivery conditions, expenditure is recognised only
as those conditions are satisfied.
2.5 Support costs
Support costs include ￿ntral functions and have been allocated to activity cost categories on a
basis consistent with the use of reSoUr￿s.
2.6 Governance costs
These include the costs attributable to the charity's compliance with constitutional and statutory
requirements, including audit, strategic management and trustees meetings and reimbursed
expenses.
2.7 Irrecoverable VAT
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
2.8 Foreign exchange
Transactions in foreign currencies are recorded at the rate of exchange at the date of the
transaction. Monetary assets and liabilities denominated in foreign currencies at the balan￿ sheet
date are reported at the rates of exchange prevailing at that date.
Page 21

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Accounting policies (continued)
2.9 Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 andtherefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
The group includes a United States incorporated entity, Spring Impact Inc, which is treated as a
subsidiary for consolidation purposes. Spring Impact Inc is subject to local taxation laws and
regulations in the United States. No provision for taxation has been recognised in these financial
statements in respect of Spring Impact Inc for the year ended 30 June 2025, as it is considered to
operate on a not-for-profit basis and is not expected to incur material tax liabilities. Any tax liabilities
arising within the United States entity would be recognised in accordance with applicable local tax
legislation.
2.10 Tangible fixed assets and depreciation
Individual fixed assets costing £700 or more are capitalised and initially recorded at cost, then held
at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment
losses.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis=
Office equipment
500/0 Straight line
2.11 Investments
Fixed asset investments
Investments in subsidiaries are measured at cost less impairment.
2.12 Debtors
Debtors are recognised at the amounts expected to be received and are reviewed for recoverability
at each reporting date.
Debtors comprise amounts re￿1vable from funders and clients in respect of grants, consultancy
income and other charitable activities, amounts owed by group undertakings, other debtors and
prepayments and accrued income.
Grant income re￿1vable and accrued income represent amounts contractually due from funders or
clients for work performed or eligible expenditure incurred up to the balance sheet date, but not yet
invoiced or received. These balan￿S are recognised where the Group has an entitlement to the
income, re￿Ipt is probable, and the amount can be measured reliably, in accordance with the
income recognition policy.
Trade debtors arise primarily from services as part of the Group's charitable activities and are
initially recognised at the transaction pri￿.
Amounts owed by group undertakings are recognised at the amount expected to be recovered and
are eliminated on consolidats'on.
Page 22

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Accounting policies (continued)
2.12 Debtors Icontinued)
Prepayments represent payments made in advan￿ of the re￿Ipt of goods or seNices and are
amortised over the period to which they relate.
Debtors are measured subsequently at amortised cost. An impairment provision is recognised
where there is objective eviden￿ that amounts due may not be recoverable in full, based on the
expected credit loss model and management's assessment of recoverability.
2.13 Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
2.14 Liabilities and provisions
Liabilities are recognised when the Group has a present legal or constructive obligation as a result of
a past event, it is probable that a transfer of economic benefits will be required to settle the
obligation, and the amount can be measured reliably.
Liabilities are recognised initially at the transaction price and are subsequently measured at
amortised cost, unless stated otherwise.
Trade creditors
Trade creditors represent amounts payable for goods and services received in the ordinary course
of the Group's operations. These balances are recognised at the amount expected to be paid.
Other creditors
Other creditors include amounts due in respect of payroll-related liabilities, taxation and social
security, and other short-temi obligations arising from the Group's activities.
Accruals
Accruals represent expenses incurred during the year for which invol￿S have not been received at
the reporting date and are recognised based on management's best estimate of the amount
payable.
Deferred income
Deferred income represents funds re￿iVed in advan￿ in respect of grants and contracts where the
Group has not yet met the conditions for income recognition or where the related seNices or eligible
expenditure relate to a future accounting period. Deferred income is released to income as the
relevant performance conditions are met or the services are delivered, in accordance with the
income recognition policy.
Liabilities are classified as current liabilities where they are expected to be settled within ￿e1ve
months of the balance sheet date.
Page 23

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Accounting policies (continued)
2.15 Financial instruments
Classification
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments.
Recognition and measurement
Basic financial instruments are initially recognised at transaction value and subsequently measured
at their settlement value.
2.16 Pensions
The group operates a defined contribution pension scheme which is a pension plan under which
fixed
contributions are paid into a pension fund and the group has no legal or constructive obligation to
pay further contributions even if the fund does not hold sufficient assets to pay all employees the
benefits relating to employee Servi￿ in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities
when they are due. If contribution payments exceed the contribution due for service, the excess is
recognised as a prepayment.
2.17 Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtheran￿ of the objectives of the group.
Restricted income funds are those donated for use in a particular area or for specific purposes, the
use of which is restncted to that area or purpose.
Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions:
Judgements and estimates are reviewed on an ongoing basis and are based on historical experience and
other factors considered to be reasonable in the circumstances.
The key judgement and critical estimate affecting the financial statements is set out below.
Stage of completion of projects and recognition of income:
A significant proportion of the Group's income arises from grants, consultancy and advisory contracts
linked to the delivery of specific projects over more than one accounting period. Determining the
appropriate timing and amount of income to recognise requires judgement in assessing the stage of
completion of these projects at the reporting date.
The Group recognises income only where it has an entitlement to the income, it is probable that the
income will be received, and the amount can be measured reliably. Where income is recognised over
time, the stage of completion is assessed using methods that best reflect the transfer of seNices to
funders and clients. These methods may include:
Page 24

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Critical accounting estimates and areas of judgment (continued)
-the proportion of eligible project costs incurred to date compared to total expected project costs;
-the proportion of deliverables completed or milestones achieved., and
-time elapsed relative to the contractual project period, where this provides a reliable measure of
progress.
Management exercises judgement in selecting the most appropriate method for each project, taking into
account the nature of the contract, the agreed deliverables and reporting requirements, and the reliability
of available infomation.
The Company makes estimates and assumptions con￿MIng the future. The resulting accounting
estimates and assumptions will, by definition, seldom equal the related actual results.
Income from charitable activities
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Consultancy
Donations
2,318,388
1,194,180
3,512,568
2,318,388
1,194,180
3,512,568
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Consultancy
Donations
1.430,359
1,909,8T7
1, 128
3,340, 236
1, 128
1,430,359
1,911,005
3,341,364
Investment income
Unrestricted
funds
2025
Total
funds
2025
Interest receivable on bank deposits
9,578
9,578
Page 25

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Investment income (continued)
Unrestricted
funds
2024
Total
funds
2024
Interest re￿1vable on bank deposits
4,114
4,114
Income
21 % (2024 . 280/0) of group income arose in the United States of America and 790/0 (2024 _ 72 % ) arose in
the United Kingdom.
Expenditure on raising funds
Unrestricted
funds
2025
Total
funds
2025
Allocated support costs
Staff costs
59,790
146,848
59,790
146.848
206,638
206,638
Unrestricted
funds
2024
Total
funds
2024
Allocated support costs
Direct costs and depreciation
Staff costs
54, 539
1,378
241,073
54,539
1,378
241,073
296,990
296,990
Page 26

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2025
2025
Total
2025
Consultancy
Advocacy
Training and scale projects
2,318,388
514,656
55,109
91,147
2,833,044
55,109
91,147
2,318,388
660,912
2,979,300
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Consultancy
Advocacy
Training and scale projects
1,430,359
1,076,646
91,383
45,691
2, 507, 005
91,383
45,691
1,430,359
1,213, 720
2, 644, 079
Summary by expenditure type
Direct costs
Direct staff
and
costs depreciation
2025
2025
Allocated
support
costs
2025
Total
2025
Consultancy
Advocacy
Training and scale projects
1,659,658
38,690
82,530
763,001
254
535
410,385
16,165
8,082
2,833,044
55,109
91.147
1,780,878
763,790
434,632
2,979,300
Included within consultancy direct costs are wranting costs of £293,484 (2024". £99,895).
Page 27

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Analysis of expenditure on charitable activities (continued)
Summary by expenditure type (continued)
Direct costs
Direct staft
and
costs depreciation
2024
2024
Allocated
support
costs
2024
Total
2024
Consultancy
Advocacy
Training and scale projects
1,483,531
74.177
37,088
687,814
424
335, 660
16,782
8,391
2, 507, 005
91,383
45,691
212
1, 594, 796
688,450
360, 833
2, 644, 079
Governance costs
Unrestricted
funds
2025
Total
funds
2025
Allocated support costs
Bookkeeping, accountancy and audit fees
Depreciation, amortisation and other similar costs
Wages and salaries
Social security costs
Pension costs
742
742
59,234
3,211
16,406
1,606
836
59,234
3.211
16,406
1.606
836
82,035
82,035
Unrestricted
funds
2024
Total
funds
2024
Allocated support costs
Bookkeeping, accountancy and audit fees
Depreciation, amortisation and other similar costs
Wages and salaries
Social security costs
Pension costs
5, 750
94,547
105
16,070
1,599
875
5, 750
94,547
105
16,070
1,599
875
118,946
118,946
Page 28

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
10. Analysis of support costs
Support costs
2025
2024
Advertising and marketing
Rent and office expenses
HR and other employment costs
Consulting fees and expenses
Insurance
General IT and admin expenses
Foreign currency {gains)Ilosses
61,902
110,960
87.215
80,547
26,634
62,027
65.879
21,051
131,819
189,841
12,209
28,570
31,170
6,462
495.164
421, 122
11.
Net incomingloutgoing resources
Net incomingl(outgoing) reSoUr￿S for the year indude..
2025
2024
{Profit)ILoss on disposal of fixed assets held for the group's own use
Depreciation of fixed assets
2,456
8, 125
2.177
2,177
10,581
12.
Auditors, remuneration
2025
2024
Fees payable to the Company's auditor for the audit of the Company's
annual accounts
17,100
15,315
Page 29

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
13. Staff costs
Group
2025
Group
2024
Company
2025
Company
2024
Wages and salaries
Social security costs
Contribution to defined contribution pension
schemes
1,702,347
160.629
1,607,022
159.872
1,463,695
152,365
1,276,727
134,018
83,598
87,519
73,971
67,726
1.946.574
1.854.413
1,690,031
1,478,471
The average number of persons employed by the Company during the year was as follows..
Group
2025
No.
Group
2024
No.
Company
2025
No.
Company
2024
No.
UK employees
US employees
25
22
25
22
29
26
25
22
The number of employees whose employee benefits (excluding employer pension costs) ex￿eded
£60,000 was..
Group
2025
No.
Group
2024
No.
In the band £60,001- £70,000
In the band £70,001- £80,000
In the band £80,001- £90,000
In the band £110,001-£120,000
In the band £150,001-£160,000
In the band £160,001-£170,000
The total employee benefits of the key management personnel of the group were £303,688 (2024
£277,289}
14.
Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 30 June 2025, one trustee was reimbursed expenses totalling £1,486 (2024
£NIL).
The expenses reimbursed to Trustees during the year related solely to the reimbursement of travel and
subsistence costs incurred in the course of attending trustee meetings and carrying out governance
duties on behalf of the charity-
Page 30

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
15. Tangible fixed assets
Group
Office
equipment
Cost
At 1 July 2024
Additions
33,404
4,413
At 30 June 2025
37,817
Depreciation
At 1 July 2024
Charge for the year
30,959
2,177
At 30 June 2025
33,136
Net book value
At 30 June 2025
4,681
At 30 June 2024
2,445
Company
Office
equipment
Cost
At 1 July 2024
Additions
20,437
5,137
At 30 June 2025
25,574
Depreciation
At 1 July 2024
Charge for the year
19,272
2.177
At 30 June 2025
21,449
Page 31

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
15. Tangible fixed assets (continued)
Company Icontinued)
Office
equipment
Net book value
At 30 June 2025
4,125
At 30 June 2024
1,165
16.
Fixed asset investments
Investments
in
subsidiary
companies
Company
Cost
At 1 July 2024
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024
Page 32

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
Principal subsidiaries
Details of the investments in which the charity holds 200/0 or more of the nominal value of any class of
share capital are as follows..
Name
Country of incorporation
Holding
Included in
consolidation
Spring Impact (Trading) Limited
England and Wales
100% Yes
The financial results of the subsidiary for the year were..
Spring Impact (Trading) Ltd:
The profit for the financial period of Spring Impact (Trading) Limited was £Nil 12024 £Nil) and the
aggregate amount of capital and reserves at the end of the period was £(308) (2024 - £(308)).
Spring Impact Inc:
Spring Impact Incorporated (Spring Impact Inc) has been treated as a subsidiary for the purpose of
preparing consolidated accounts. Spring Impact exerts control over Spring Impact Inc through Spring
Impact Inc's bylaws which state that Spring Impact is a member of Spring Impact Inc and has powers to
nominate or remove Spring Impact Inc's board members.
The results of this charity are summarised as follows..
Total assets as at the year end £521,560
Total liabilities as at the year end £44,122
Total net funds as at the year end £447,438
Turnover for the year £722,770
Expenditure for the year £611,595
Surplusl{Deficit) for the year £111,175
17. Debtors
Group
Group
Restated
2024
Company
Company
Restated
2024
2025
2025
Due within one year
Trade debtors
99.530
74,058
24,822
114,798
8,676
360,181
11,934
847,375
23, 825
211,682
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income
8.676
474,676
23, 825
346,582
582,882
444.465
508,477
1,094,816
Page 33

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
18. Creditors: Amounts falling due within one year
Group
Group
Restated
2024
Company
Company
Restated
2024
2025
2025
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
53,568
44.195
4.596
367.553
64,518
43. 544
35,238
44,195
2,272
344,208
59,376
43,544
10,833
602,492
13,578
629, 583
469,912
751,223
425,913
716,245
Group
Group
Restated
2024
Company
Company
Restated
2024
2025
2025
Deferred income at 1 July 2024
Resources deferred during the year
Amounts released from previous periods
582,702
2,031,857
556,706
1,928,373
340.578
582, 702
317.233
556, 706
(582,702) (2,031, 857) 1556,706) (1, 928,373)
340.578
582, 702
317.233
556, 706
Deferred income comprises income re￿iVed in advan￿ for grant funding and consultancy contracts
relating to a subsequent financial year. Such income is deferred until the criteria for income recognition is
met, in accordance with the Group's income recognition policy.
19.
Prior year adjustments
During the year, the Group identified that certain balances relating to accrued income and deferred
income at 30 June 2024 were overstated and not fully supported by the underlying contract and funding
schedules. As a result, comparative figures for the year ended 30 June 2024 have been restated.
Following a detailed review of prior year debtor and creditor balan￿s, amounts previously included within
accrued income (included within debtors) were determined not to meet the recognition criteria under FRS
102 and the Charities SORP. In addition, amounts previously included within deferred income (included
within creditors) were identified that did not represent valid liabilities at the prior year end. These balances
were therefore removed.
The restatement resulted in reductions to both accrued income within debtors (note 17} and deferred
income within creditors (note 18).
In addition, the restricted fund balan￿ at 30 June 2024 has been restated to nil following confirmation
that no extemally imposed restrictions remained at that date. Amounts previously reported as restricted
funds have been reclassified to unrestricted funds.
The prior year financial statements disclosed expenses in relation to the Chief Executive OffI￿r who was
reported in those accounts as also being a trustee. Clarification was obtained during the year which
identified that his previous appointment as a Trustee was incorrect. Disclosures in relation to his
expenses have therefore been removed.
These prior year adjustments resulted in the following effects:
Page 34

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
19. Prior year adjustments (continued)
As at 30 June 2023 (opening comparative)
As at 30 June 2023, total funds of £610,317 were previously reported, comprising restricted funds of
£288,358 and unrestricted funds of £321,959.
The balan￿ of £288,358 previously reported as restricted funds was reclassified to unrestricted funds
following confirmation that no external restrictions remained.
As a result of these adjustments, as at 30 June 2023, restricted funds were restated to nil and
unrestricted funds were restated to £610,317. with total funds unchanged at £610,317.
As at 30 June 2024 (closing comparative)
As at 30 June 2024, total funds of £895,780 were previously reported, comprising restricted funds of
£288,358 and unrestricted funds of £607,422. Accrued income of £1,918,787 was included within debtors
and deferred income of £2,172.082 was included within creditors.
Following the review, accrued income was reduced by £1,572,205 to £346,582, reflecting income that did
not meet the recognition criteria at the reporting date. Deferred income was redU￿d by £1,589,380 to
£582,702, reflecting amounts that did not represent valid liabilities. These adjustments affected only the
presentation of debtors and creditors and did not impact total funds.
In addition, the balance of £288,358 previously reported as restricted funds was reclassified to
unrestricted funds following confimiation that no extemal restrictions remained.
As a result of these adjustments, as at 30 June 2024, restricted funds were restated to nil and
unrestricted funds were restated to £895,780. with total funds unchanged at £895,780.
There was no impact on total income, net income, net cash flows or total funds for the year ended 30
June 2024 as a result of these adjustments.
Comparative figures throughout the financial statements have been restated accordingly.
20. Statement of funds
Statement of funds - current year
Balance at 1
July 2024
Restated
Balance at
30 June
2025
Income Expenditure
Unrestricted funds
General Funds- all funds
895,780
1,203.758
(949,585
1,149,953
Restricted funds
Restricted Funds- all funds
2,318,388 {2,318,388
Total of funds
895,780
3,522,146 (3,267,973
1,149,953
Page 35

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
20. Statement of funds {continued)
Restricted funds have been aggregated in the financial statements where they relate to similar types of
activities and are managed under the same operational framework. The Trustees consider this
aggregation appropriate because it provides a meaningful view of the resources restricted for specific
purposes, while avoiding disclosure of immaterial individual funds. The aggregated presentation does
not obscure the nature or intended use of the funds and remains consistent with the Group's reporting
and management of restricted resources.
Statement of funds - prior year
Balance at
30 June
2024
Restated
Balan￿ at
1 July 2023
Income Expenditure
Unrestricted funds
General Funds- all funds
610,317
1,915, 119
(1.629, 656)
895, 780
Restricted funds
Restricted Funds- all funds
1,430, 359 (1, 430,359)
Total of funds
610,317
3,345,478
(3,060,015)
895, 780
21.
Summary of funds
Summary of funds - current year
Balance at 1
July 2024
Restated
Balance at
30 June
2025
Income Expenditure
General funds
895,780
1,203.758
(949,585)
2,318,388 {2,318,388
1,149,953
Restricted funds
895,780
3,522,146 {3,267,973I 1,149,953
Page 36

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
21. Summary of funds (continued)
Summary of funds - prior year
Balance at
1 July 2023
Restated
Balance at
30 June
2024
Income Expenditure
General funds
Restricted funds
610,317
1,915, 119
(1.629, 656)
1,430, 359 (1, 430,359)
895, 780
610,317
3,345,478 (3,060,015)
895, 780
22. Analysis of net assets between funds
Anatysis of net assets between funds - current year
Restricted Unrestricted
funds
funds
2025
2025
Total
funds
2025
Tangible fixed assets
Current assets
4,681
289,299
1,325,885
(289,299) {180,613)
4,681
1,615.184
1469,912)
Creditors due within one year
Total
1,149,953
1,149,953
Analysis of net assets between funds - prior year
Restricted Unrestricted
funds
funds
Restated
Restated
2024
2024
Total
funds
Restated
2024
Tangible fixed assets
Current assets
Creditors due within one year
2,445
1,054,949
(161,614)
2,445
1,644,558
(751, 223)
589, 609
(589, 609)
Total
895, 780
895, 780
Page 37

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
23.
Reconciliation of net movement in funds to net cash flow from operating activities
Group
Group
Restated
2024
2025
Net income for the year (as per Statement of Financial Activities)
254,173
285,463
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Increase in debtors
{Decrease)Ilncrease in creditors
2,177
11.218)
8, 125
(4,114)
2,456
1138.417)
(167,969)
1281,311) (1,478,767)
Net cash used in operating activities
1164.596) (1, 354, 806)
24.
Anatysis of cash and cash equivalents
Group
2025
Group
2024
Cash and cash equivalents
1,032.302
1, 200,093
Total cash and cash equivalents
1,032,302
1,200,093
25. Analysis of changes in net debt
Changes in
market
value and
exchange
At 1 July
rate At 30 June
2024 Cash flows movements
2025
Cash at bank and in hand
1,200,093
1159,863)
(7,928) 1,032,302
1,200,093
(159,863)
(7,928) 1,032,302
Page 38

Docusign Envelope ID.. 6E3047F2-EC4D4367-98AWBE469F5BC6
SPRING IMPACT
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
26.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received
within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the
Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to
charitable purposes.
The group includes a United States incorporated entity, Spring Impact Inc, which is treated as a
subsidiary for consolidation purposes. Spring Impact Inc is subject to local taxation laws and regulations
in the United States. No provision for taxation has been recognised in these financial statements in
respect of Spring Impact Inc for the year ended 30 June 2025, as it is considered to operate on a not-for-
profit basis and is not expected to incur material tax liabilities. Any tax liabilities arising within the United
States entity would be recognised in accordance with applicable local tax legislation.
27.
Pension commitments
The group operates a defined contribution pension scheme. The pension cost charge for the year
represents contributions payable by the group to the scheme and amounted to £83,598 (2024 - £87,519).
28. Related party transactions
Other than those mentioned in Note 14, there were the following related party transactions in the year.
During the year, Spring Impact re￿iVed funding totalling £473,761 (2024 .. £1,128) from the Goldman
Sachs Philanthropy Fund. The funding was directed by Donald Porteous, a Trustee of Spring Impact,
through his donor-advised account with the fund. Of the total funding re￿ived, £157,070 was recognised
as income in the current year (2024= £316,691), with £nil deferred at the year end in line with the project's
performance-related conditions. No amounts were outstanding to or from Mr Porteous and the funding
was provided in support of restricted projects.
Page 39