R•gl8ter•d Numbor.. 08447600 (England and Walo$1 MGCFUTURES LTD REGISTERED CHARITY NO. 1153534 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
MGCFUTURES LTD CONTENTS P•gé Legal and Administratlve Informali¢)n Truslggs. Report Indwndont Examinerfs Rep)rt Stslemenl of Financlal AGtSvlUes linduding tho InMe and expenditure account) Balal Shgot Notes to the FSnancial Statemen18 10-13
MGCFUTURES LTD LEGAL AND ADMINISTRATIVE INFORMATION Charity Statu¥ Registered In England arKI Wale W•bslt• Addr•ss mgclulurès.com Charity Numb•r 1153534 Regl$tered Offlco Fourth Floor Wyndham's Theatre Charing Cross Road London WC2H ODA R•9lSter•d Numb•r 08447600 Trustoes and Dlr•ctorn Anthony Pins Jeremlah Healy Sir R81ph Waller KBE Joan Major The Lady Hannah Ruth Lowy Mitch911 Polina Kalinin8 lappoinlod 14 January 20261 Ablgail Zakarian Iraslgned 5 June 20251 Accouniant• Nyrnan Libson Paul Ch8rtered Accountants Rggina House 124 Finchley Road London NW3 5JS Ind•p•nd•nt Ex•mln•r Peta P8rker FCA L&wis Golden LLP 40 Quoen Anne Street London W1G 9EL
MGCFUTURES LTD TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees (who are also director5 01 the charity for Ihg purposes ol the Corllpanies Acll present their annual port together with the financial slalemenls ol MGCfulures Ltd Ilhe companyl lor Ihe year ended 31 August 2025. The Trustees conlim) that the financial slalemenls have been prepared in accordancg with the 8ccounling policios sel out on pages 10 and 11 and with 8ppliG8ble United Kingdom accounting standards, cUrn1 slalulory quirements, tho Charities Acl 2031, ihe Companies Act 2006. Accounting and Reporling by Charitle5.' Sl8temonl of Recommended Practice 8pplicable lo ch8rilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubliG ol Ireland IFRS 1021 las amended lor periods commencing from 1 January 20161, the Financial Report1ng Slandard applic8bl6 in the UK and the Republic of Ireland IFRS 1021 and the Charity'5 goveming document. Leg81 and administrative information, including the Twslees who served during the year are sel out on page 1. Objeetivfys and A¢tivlti•s Policies and objectives The principal object of the company is io promotè, maintain, improv8 and advance the education and 8pprecialion ol The8tr& and the Oramalic Arts ltsr the benefit ol thè public, in particul8r but not exclusively, through the Pfovlsion of bursari85, rnenlorsng. Iraining and access to the work of Michael Grandage and othèr leading arts providers. MGCfvluro$' mission is lo guide and support the Ihealrè-makgrs and Ihealre4Joers of the future. This is achieved through- Running 8 bursary schemè to support and provide menlor$hlp loi emergiro and d8veloping talgnt across 811 areas of the theatre industry Providing pr8¢tical 'behin¢J-Ihe•scen88' afJvSce and guidanc& lor young people who are 8e&klrwJ a careèr in the Thfr8tre En8bling access lo theatre performanc&s for young people who 9th9198 would not b8 able lo affofd11. as well 89 providing education Tesources for schools The Trustees confimi th81 they referred lo the guidance contained in the Charity Commission's ggngral guidancè on public benefit by reviewing the charity's aims and objectives and in plannlng 118 aclivili98 lor the year. Achb•vements and Performance a. Going concern After making appropriate gnquirie5, the Trusteès have a reas¢)nable exCtation that Ihe company has adequate resource5 to continue in op&ralional existence lor the forgseeablé fulure. For Ihls reason Ihay conllnue lo adopt Ihe going concern basis in preparing the financial slalements. b. Rev1 of a¢tlvltl•s mmi The 2024125 year commenced with planning for the charity's 10th Anniversary cèlebrations which wer& held al Sl Marb"n in ihe Fields on 7 November 2024. This speci81 evenl brought together the largesl gathering ol bursary recipients since the schomo was launched in 2016. The evening lealured sp88Gh85 from thè charity's loundfyr Michael Grandage and the Chair ol the Board Lady Lowy Milchell. Michael Grandago also lod an inspiiing and informative in.conver5alion stylo discussion wSlh PBSI recipients Isley Lynn Iplaywrighl. Evenlng Standard winner and 2016 bursary recipienll, Rebecca Frecknall Idireclor, Olivier Award winngr and 2016 bursary recipienll and Waleed Akhlar Ilhe8lre maker. writer. Olivier Aw8rd winner and 2021 bursary recipienll. Th8 gvenln9 lurlher lealured a special performance from Chis8r8 Agor Ilhealre makei, compDser, multidisciplinary artist and 2019 t*ursary recipienll. Th& evening offered past recipients Ihe opporlunlly lo nolwo¥k and makg valuable indu51ry connections as well as lor the board, donors and supporlers ol the ¢harSly lo meet bursary recipients and hear
MGCFUTURES LTD TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 b. Revlèw of activStlès lcontinuedl fiTSt-h8nd how tho scheme has made a positive impact in the development ol their caliVe careers. The event was also attended by MGCfulure5' Patrons Dame Penelope Wilton, Emma Corrin 8nd Aiden Turner. .1 w8s not employed to Write by Ihe lime I had epplied for an MGCfulur&s bursary. I w8s doing schemes and 8ttachments aftd all sorts of groups. But I was nol B prOf&ssnal yel even though my work was prol8ssional stand8rd. This [MGCfulures bursaryj was a big chunk of money, and itwas hug&... The project IpilGhed MGClutures ten years 890,. A. could not have happened without Ihe money end 8. is tho project 18m 18lking to a f&slival gboul and trying lo find 8 horne for n8xl year, So Iho journ6y is incredibly long. You have lo have such gril and lanacily. andyou IJ8ve to be able lo stay on Ihe ten-y8arr08d. I don? want to be boring, bul more morjeyis really importanti" Isley Lynn, 2018 Bursary Rèelplènt, Wrlter, speaklng pt th• 10th Annlver¥ary Evènt In November 2024 "l epplied in 2020 when I de¢ided I was going lo become moro of8 maker. I ljad begn acting ancl doing lillle bits ol wriling and then I was like, I'm done. I w8nlecl 8 bil more autonomy. I wanled to say Ihings. I had be&n doing a lot of comedy improv and th81 filled the void, and working with a lol of stand-up comedians who m8d8 shows, and it was their opinions and theirpolilics, and I WBS like, I w8nl lo do th&t as woll.. 11 [an MGClulures bursaryj is Ihat stamp of 8pprov8lyou gel. I was sort olpivoling in my car6erand then il [811 verymuch lik6 I can do this,. the industry %wll loko me sgriously. I think Ih81 confidence really h8lped kind of push Ihos& writing projecls, and be 8 bil mo pushy wilh Ihem 85 well 8nd get the8lres lo 18k& notice., Waleed Akhtar, 2021 Bursary Raclplent, Theatr• Maker. speaking al the 10th Annlver¥4ry Ev•nt In November 2024 In addition lo celebrating Ihg achievem6nls of past recipients the evenlng also lacililaled the announ¢em&nl of the organisation's 8th round of bursaries. The applicgtion portal opened on 8 Novemb&r 2024. The 8th round recgived 360 applications across 20 theatre disciplines from wig making. voc81 coach Iraining, and sound design to digitallvideo design, di58bility led arts, education facilitation and dramaturgy. Applications came from across the UK. Selected by 8 panel ol leading industry professionals, a lolal of £67,309 was awarded lo 13 fecipienls working across a range of speci8ll$ms including 8 year-long Engag&menl Communications Producer Placement with Derby Theatre. Th8 successful applic8ntS Wer8 announcod by MGCfulures polron. Luke Evans vSa his social medla platform on 18 March 2025. 202412025 Bursary Recipients.. Rachel Bellman and Eden Tredwell- WrllSng and ComposSng (Lln and Ken Craig Bur3aryl Layla Br8dbeer- Design (Puppelryl Emefgtrncy Chorus (Ben Kulvichil and Clara Poller-Swegtl- Thfjalrg Making Emma Higham- DireclorlWrilerrrhe8lre Making Cai Konnody- Engagement Communications Produc8r Placement (Derby Thgalrg) Jack M8cGre9or- Writing J8smin Mandi Ghomi - Willing Robe Pr¢ntice- Producing Eleanor Sikorski- Choreography Virginie T8ylor- Video Design David Wood- Theatrical Tailoring (The Sleph8nl8 Ardlttl Bursary) Imy Wyatt Corner- DirectinglWrilingheatr M8king (The Nicole Kidman Bursaryl Xana- Sound Design and Composlng
MGCFUTURES LTD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 b. Rèview of activitie5 {continued} Quotes fTom 2024125 bursary recipiants "l am & the1 diwlor who was recenlly awarded an MGCfUluS bursary lo wrAle my first play, lo work lor & week 8t The Kiln (theat) wilh four 18ntaslic actors, a mBgician, and lo work wilh 8 dramalurg in lh& developmenl ol the scripl. Beirtg afforded the opportunity lo pl8y anLt to tnal a new w8y of working which is 18eding inlo something I w8nted to do for a while has been fantastic. 11 has given suGh 8 bro&d approach lo my work goffng forward. l am 9r8lelul to the mGCfutUs leam lor giving me this opportunity anrj l èm excited Io s88 where il goes nexll" Imy Wyatt Comer, 2024125 Bursary, Directorlwriter .1 received the MGCfvturos bursary to develop my play Owl for Nowt. The firsl draft of Owl for Nowt sat in a drawer for fe years. I wanted the lime and the space to lake it out of that drawer and lo inlerrogale and invesligate what was in it and how I could redraft 1£ for loday s current thea1ral climate. This bursary has allY helpgd changg the game for me at this point in my caer. It s holped me lo figure out whal l aclually want lo wrile 8bout and given me the faith to tell the stories I really want lo tell. l tssedlhe bursary to g8t dramalurgical support whff¢h helped lo further the vision and undetst8nd Ihe worfd and thg ch8r8clers I d Grealed and where they stand in lod8y's theatrical lands¢ape.". Jasmin Mandi-Ghomi. 2024125 Bursary, Writer 18m delighted ènd h0nots to rEc8ive the Slephanie Arditli Bursary. The support from MGCfutUS w-11 allow me to purchase specialised induslrial Sen9 maGhines and Gutting equipment, allowing me the Ghance lo sel up a professiortèl tailoring and costume making studio." Davld Wood, 2024125 Bursary reclplent. Theatrlcal Tailor The year was further spent providing over 500 hours ol mentoring SUPPDrt and guidance alongside promoting the work of bursary recipients past and current. This included over 60 posts across our social medi8 platforms promoting th& work ol recipients. 8 artist features and news stories on the MGCfutures website. attending 21 sharing's. works in progress or showslproductions involving recipients. The team met current and past re¢ipients 34 t¢mes a month for one-lo-one meetings and mentorship., offering feedback and dramaturgical support on new work, guidance around career developmenl, advising on funding applications, marketing & promo materials, setting up comp8nie5 and f8cilil8ling industry conntrctions for lulurè collaborations. Black Narcissus a new stage adaplalion by Rulh D'silva Since awarding Ruth D'silva The Nicole Kidman Bursary in 2023, MGClutures has continued to play 8n active role in the ongoing developmer+l of her writing career-, spècifically, her stage adaptation of Rumer Godden's novel Black Narcissus for whid) she was awarded her bursary. The 'fulurès' téam read and gave feedback on drafts, attended Several stagad readings, made introductions to leading agents. and offered business advicè and guidance. Through this SUPPDrt, in 2025, Ruth successfully held an iTnportanl stsged reading atthe NT Studi05 directed by NT Resident Director Adam Kanm. with cast including Anushka Chakravarti, David Dawson. Ayèsha Dharker, Hannah Khalique• Brown. Jenn8 Russell. Shubham S8raf and Rosie Sheehy. Following the reading, and vAth positive feedback from the authorfs rights holders and a leading agency, both of whom are keen tD help get the play produced. she sucGes$fully negotiated and secured a shopping a9rèemènt lo pitch the play to comp8nig8 who rnay b6 interested in producing it. MGCfUtuS continues lo advise Ruth on next steps as she promotes the play lo production mpanies in the hopes of getting il staged. hankyou so muGh forcoming along lo the Black Narcissus, r&ading [NT Studiosj on Thursday. I fsll so bolstered and supported byyorj. It me8nt 8 101 lo have you Ihere because you and MGClutur&s have been there for me Irom the beginning and l fvlt the reading was a bit of 8 milestone in tho play's d&veloprnent." Ruth D'5ilva, 2023 8ur$ary. writsr fUtUS[SMIlY Work on the new fuluresf8rnily section of the websi18 was finalised and launched in April 2025. fuluTeslamity is a memL*rs' ar¢8 that acts as a hub for recipi8nls lo faci1b18le comrnunicalion, networking and collaboration opportuniti¢s between them.
MGCFUTURES LTD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 b. Review of actlvities (continued) En em nl I Communi lions MGClutures gUlarlY comTnunicates with over 3,600 people across ils newsletter and social media platforms Ilnstagram, Facebook & Linked In). Thi5 Is a 43.25°k increase in subscriber5 over the course of the financial year compared to the previous y8ar12.5131. The website received 3.700 active users13,500 in 20231241. Luke Evan5 Instagiam announcement of the 202412025 Bursary Recipients reached over 100,(K)O profiles. Fundraisin I Cullivalion MGCfutures receives no public subsidy and could not exist wilhoul the kind and generous support of all our donors who contribute to the success ol the charity either financially or in-klnd. Notsvithstanding a very competitive fundraising landscape. funding was r8isad through a number of sources. Donations.. Individual 50% Donations.. Corporate Giving 31% Events & Othèr Charitable activities 13% Trusts & Foundation5 50 MGCfutures held a succe551ul fundraising and cultivation evenl with a perfomiance ol My Masler Builder on 3rd June 2025. The evening was attended by donors and supporters of the charity. Michatrl Grandage, founder and Lady Lowy Mitchell, Chair of the Board both gave impassioned speeches which helped raise awareness of the charity's work and raise a substantial sum for the organisalion. The evening was further supported by thè cast of My Masler Builder (Ewan McGregor, Elizabeth Debicki. Kate Fleetwood. Oavid Ajala and Mirren Mackl who were in attendance. making for and incredibly special evening. Further, several cultivation lunches were held throughout the year to help widen our neiwork and raise funds for the bursary programme. mance 2024125 saw the following changes lo the Board of Trustee 8niJ S¢8ff Board ol Trustees Abi Zakarian12018 Bufsary Recipient, Wrilerl, who joined the board for a two-year term (extended lo three) in the capacrty as a past bursary recipient resigned from the Board on 3 June 2025. Sha was succeeded by former bursary recipient Polina Kalinina12017 Bursary Recipient. Director) who slepp8d on lo the board on 14 January 2026 for a tsvo-year term. Stsff Andrew Broadley, Executive Director announced his resignation after 7 years wllh the charity and stepped down on 31 March 2025. He was replaced by 81ayne George who look over the role on 1 April 2025. The Board extends our grateful thanks lo Androw for his y8ars of dedicated servlco lo the charity. Thè Board also wishes lo record Ouf enormous grabludo io the Board. our Patrons and especially to all our donors, lor Iheii ontinued support and hard work on oui beh81f. Flnancial Revl•w Res•r¥•s pollcy The ¢harily's free reserves are represgnled by donallon8 receSved not yel dlstribuleil. The Tru8lees' reserves and funding policy is lo try lo ensure that funds ofe m8lnlained at a1ov&l sufficlanl lo covar the loroca81 overh&ads lor the ensuing 6 months.
MGCFUTURES LTD TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Resèr¥#¥J pollcy Icontlnuodl Al the ba18n¢e sheel dale £123,49912024.' £178.1971 was held in reserves. ol which £121.329 ar8 unrestricted. Plans for the future p8rlods Future d•v•lopment8 The main plans for the future a lo continue lo provide bursaries and mentorship lo further the objectives ol the charity. We will continu& lo develop our business plan lo devise future strategy and Secure financial 5UPPOrt. Structur•, gov•m•nc• •nd man•g•mont Constitullon The company is registered a5 a charitable company limited by guar8nl&& and wa8 sel up by o Momorandum of Association on 15 March 2013. Thg company Is ¢onstilul8d under a Memorandum of A550cialion dated 15 March 2013, as amended on 2 March 2017 and is a reg151ered charity numb9r 1153534. b. M•thod of appolntment or •l•¢tlon of TN•t?es Thè mang9emenl ol the company is tho reswnsiblllly el th8 Tru8188s who ore elected and co-opted under the lems of Ihe Articles of Associalion. OrgHnlBatlonal structur? and d•cl8lon maklng The Tru3to95 aro 8ctsvely reBpon8ible for th9 over811 management and Gonlrol ol the charity. The Board continued lo oversee the 31ralegic development ol MGCfulura8. d. Rèlated party r•l8tl¢n$hlp• Tha tharily ha$ no related or connKlgd char5tl&8. Risk rnan¥g¥m•nt Thg Tru51ees have a3seB5ed the major risks lo which the company18 exposed, in porticular thos8 related to the oper8bon5 and finances of the company. 8nd are 88118fi8d that 8y8larns and pro¢8dure3 are In place lo mitigate exposure to the major risk5. In preparing this report. the Trustees have taken advantage oflhe small companies exemptions provided by section 415A of the Companies Act 2006. This eport was approved by the Tfuslges on ........... d signed on their behalf by.. Hannah Lowy Mltcholj (Chairl
MGCFUTURES LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MGCFUTURES LTD I report to thè Trustees (who are also directors lor the purpos8 of company lawl on my examination of the financial slat&ments of MGCfulures Ltd Ilhe charitable comp8ny'l for the ygar ended 31 August 2025 which comprise the Stalement ol Financial Activities (including the income and expenditure accounll. the Bal8ncp Sheet and relaled rte$. This report 18 mad& solely to the Chgrity'8 Trusleey, as B body, in accordance wllh secllon 145 01 the Charilies Aol 2011. My work h8s been undertaken so that I might 81818 lo lh8 Charity's Trustees those ma118r$ l am required lo Stale lo them in this report and lof no other purpos8. To the lu118sI exlenl pefmilled by law, I do nol accept or assume responsibility lo anyone other than the Charity and tho Ch8rily's Trustees as 8 body. lor my work, lor this report. or for the opinions I have lormed. R¢sponsibilities and basis of report As the Trustees ol charitable eompany you ar9 responsible lor the preparation ol the financial slalemonls in aco)rdance with the rfyquirements of the Compani85 Act 20061'lhe 2006 Act'l. Having sglisfied myself thal the financi81518lem8nls ol the ch8ril8ble comp8ny are not required lo be aullilgd under Part 16 01 the Act and are eligible lor independent examlnatlon. I feport In respect of rny gxèminalion ol the tharitgble company's financial statamgnts carried out under s•ctlon 145 01 the Charities Act 2011 I'lhe 2011 Act.) no in carrying out my examlnalion I have followed all the Bpplicable Directions given by Ihg Charity Commi181 under section 14515llbl ol the 2011 Act. An indèpendent examination d088 not VOlve gathering all the evidence that would be required in an audit and rxjnsequenlly does not cover all the mallers that an auditor ¢onsidgrs in giving their opinion on the financial stslements. The planning and conduct of an audit goes beyond the limited assurance th81 an independent examination Gan provide. Cons&qu&ntly, 19xpress no opinion as to whother the financial stalemenls present a 'lrut and fair, viaw and my report is limited lo those specifi¢ m8tt&rs sel out in Ihe independenl exeminer's statgment. Ind•p•nd•nt •xamlnerfJ stat•mont I hève completed my ex8mination. I confimi that no material matt8rs havg Gomo to my ollenllon In conn&cllon wilh tho examination giving me cau88 ¢0 b&li&v& th81 In any malerlal raspocl.. occounling records were nol kept In rg$pg¢t ol tho chArStgbl& compony 08 requlred by Secllon 386 01 the 2006 Act,, or the financial slalements do not accord with those rocords; oi the financial stalements do not comply with the accounting requiremen15 of section 396 of the 2006 Act other than any requirement that the financlal statements give a 'lru& and fair, view which is not a matter considered a5 part ol an independent 8xaminalion', or the financial 5t8lements have not been prepared In accordance wilh the methods and principles of the Stslemenl of Recommended Practice lor accounting and reporb'ng by charities applicablg to charities preparing their accounts in accordance with th8 Financial Reporting Standard gpplicable in the UK and Republic of Ireland IFRS 1021. I have no Goncern8 8nd have come across no other matter8 In connection with th9 examlnalion lo which attgnlion should be drawn in this report in order to enable a proper underslandlng ol the finanGi81 slal8rnenl8 lo be aChed. Pets Paer FCA Lews Golden LLP 40 Queen Anne Street LOThJ) W1G 9EL Date.. 22 May. 2026
MGCFUTURES LTD STATEMENT OF FINANCIAL ACTIVITIES (Including the Income and expendlture account) FOR THE YEAR ENDED 31 AUGUST 2025 Not•8 Gon•ral unrestrlcted funds 2025 R•$trlcted fund• 2025 Total lunds 2025 Total fund• 2024 Incom• and •ndowm•nts from., Donations and legaeies 111,776 5.217 116,993 166,592 Othor income 1,589 1,589 2,086 Total Income 113,365 5,217 118,582 168.678 Expendlture on., Ralsing funds IS,9661 15,966 {15,7831 Charitab18 activities 1127,7721 139,5421 1167.314 1144.0261 Total exp•ndllur• 1133,7361 139.5421 1173.280 1159,8091 N•t Incom(0XPend1ture> 120.3731 134,3251 154.6981 8,869 Net mov•m•nt In lunds 120.3731 134,3251 154.6981 8,869 Reconclllatlon of funds- Total funds at 1 September 2024 141,702 36,495 178.197 169.328 Total funds at 31 August 2025 121,329 2,170 123,499 178,197
MGCFUTURES LTD BALANCE SHEET AS AT 31 AUGUST 2025 2026 2024 Not•B Ctsrr•nt as8•ts Cash al bank and ITh hand 113.999 174.594 Debtors 15.022 9,013 Total eurrnnt a•••ts 129.021 183,807 Cr•dltor•.' •mount• lalllng due wlthln on• y••r 15.5221 15.4101 N•t eurreTrt ass•ts 123,499 178.197 Total n•t ass•ts 123.499 178.197 Funds of tho Charlty Unrestnct¥d funds Restricted f(mds 121.329 2.170 141.702 36.495 Total Charlty funds 123,499 178,197 TheTru5tees consK#er that the ec¥npany Is antiUÉd to exèmptions from the requirernent to have an audrt under the provigons of sections 477 01 thts Companie5 Ac120061'thg Act'l and the members have not required the company tcs ¢Jtoin an autjit for tl year in qUeStic in accordance wth section 476 of the Act. The Trusteès acntrwIed their rÈsponsibilitr8s f(Y cownY1r9 Wth the wuirernents of tha CIMnpanies Act 20¢JS with respect to acCountg record5 and for preparsng financial StatentS which give 8 and fair wew ol the stale of affairs of th8 company as at 31 Augusl 2025 and of It$ net resour¢85 exp8ndJ for th8 year in aceordance with the reqUents of the Companie5 kt 2006 relating to financial $taiom$ntS. 50 far as applicablg to the Cmpa)Y. Th• financial Ststernents hav8 b88n ppared in occordan¢e wlth provi$lon$ &pplicabk8 to small companies within Part 15 olthe Companies Act 20ffi and in acCOrdarr with the Financial Rgportiro Standard applicable in the UK and Rèpublic of Ireland IFRS 1021. The financial 6tatgmgnts were apprad by thè Tru$tè85 on ................ bèhalf by. . and s¢gned on Iheir ony Pln• Trustèg The notès on pag88 10 to 13 form part of the88 financial st8tam•nts MGCfuthr•• Ltd Charft•bl• Comp•ny Iregl•t•r•d company numb•r 08447800 En9l•nd & Wal••, Charlty number 11635341
MGCFUTURES LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Aceountlng pollcl•8 1.1 Basis of proparatlon of financial statoments The financial statemenls have been prepared under the hSslorical cost convention. The Charilyls a public benefit enlily and the financial slolem&nls are prepared in accordancè with Accounling and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo chari118s preparing their accounts in accordance with thg Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 1021, Second edition - October 20191, th& Companies Act 2006 and the Financial Reporting Standar¢J applicable in the UK and Republic ol Ireland IFRS 1021. The Charity h8s laken adv8nt8g8 ol the exemption lo prgpare a Slat&mgnl ol CBsh Fh)ws. 1.2 Company Status The ¢ompany is a company limited by guaranlee. The members oflhe company are the Trustees named on pa9& 1. In the event ol the company being wound up. Ihg liobilily in respect ol the gu8ranlg0 is limited lo £1 per memb8r ol the company. 1.3 Fund accounllng Gener81 lund5 are unrestricted funds which are ava4abl8 lor use 81 the discretion of the Trusleos in furtherance ollhe general objectives ol lh9 company and whlch h8v& not been deslgn8led lor olhgf pvrposes. Reslriclèd funds are subject to 9pecific condili¢n8 by donor8 as lo how they may be used. The purpose and uses ol the reslrlctad funds are Sel out in the notes to the financial statements when th8 Charity holds reslricl&d funds in the appropriate accounting perlod. 1.4 Incom All incoming resources are included in the Slalemenl of Flnandal Acllvlti68 Ilncluding thg Inme and expendllure 8ccounll when the comp8ny h88 enllllemenl lo the funds, c8rtainly of receipt and th& amount an be measured with sulfici8nl reliability. Don81ed servi¢eg or IBcilitlBs, whSch comprlso donated servlce5, are Includad In Income 818 valuation whlch Is an estimote ol Ihe financial c081 borne by the donor where such a cost is quantifiable and mèasyrable. No income is recognised where Iherg 1$ no financial cost born? by a third paty- Income lax is recover8ble In re181kJn lo donallon8 rg¢glvgd undgr Glft Aid or deeds of covenant 8nd is rgcognised al b.me of raceipl. Other income comprises lundr8ising income from gvgnts and galas whloh womole awaren85$ and generate funds lo support the Ch8ri1y's objecllves. 1.5 Expenditure Expenditure is occounled lor on 8n accruals basis and has been included under expense calogories that ggregat8 Bll SIS lor allocatson lo aclivllles. Where costs cannol be dlreclly attributed to Particular aclSvllies they have been allocated on a basis conslslenl with the use DI the resources. Expenditure on ch8ritsble activities comprises all costs associated with the rLtrnnlng ol the Charity, Including those incurred In connection with admlnislrallon and compliance with conslilullonal and stalulory requirements. 1,0 Creditor$ Creditors and provisions 810 rgcognised where the Chartly ha8 a pr&88nl obligallon resulting from a past event that will probably result in the transfer of funds lo o third patty and the amount due to settle tho obligation can be measurod or eslimaled reliably. Creditors and provi51on5 are normally recognised al the $¢iUement amount afler allowing lor any trade di8counl8 due. 10
MGCFUTURES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 A¢¢ounting polici•s Icontinuedl 1.7 Debtors Short tem) debtors are measured al Iransaclion pric8. less any impairment. 1.8 Financial instruments The Charity only has financi81 asse15 and financial liabilities ol a kind that qualify as ba51¢ financial instruments and arg initially recognised at transaction value and subsequently measured al their settlemgnl value. 1.9 Cash and cash equivalents Cash is represented by cash In h8nd, deposits held at call Wkth financial institutions and other short-term liquid investments that mature in no more than ihree months frorn the dale of acquisition and that are Teadily convertible lo known amounts of cash with insignificant risk ol chan9& in value. Income Unrestricted Funds 2025 R¢$tricted Funds 2025 Tetsl Funds 2025 Total Fund5 2024 Donations and lega¢ie$- donations Gift aid Other incomè- interest received 105,767 6,009 1,589 5.217 110.984 6.009 1.589 158,342 8,250 2.086 113,365 5,217 118,582 168.678 Donations and legacies include a Grfl in kind of £1,20012024.. £1.2001 lor payroll services gilted to the Charity and office accommodation gifted to thg Charity with a value of£2,00012024'. £2,000}. Expenditure on raislng funds Unrnstrlcted Fund$ 2025 Restricted Funds 2025 Total Fund$ 2025 Total Fund5 2024 Event costs 5,966 5.966 15,783 11
MGCFUTURES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 4 Expendllure on charltable actlvltles Unrestrlcted Fun(Is 2025 Reslrlcted Funds 2025 Total Funds 2025 Total Funds 2024 Govemance costs Independent Examin8rf5 remuneration Accountancy lees Insurance Bank charges 2.940 2,460 1,031 546 2,940 2,460 1,031 546 2.700 2,340 516 548 6,977 6,977 6,104 Charltab5e actlvlll•s Overhead costs Personnel costs Website cos15 Bursaries granted Bursary adminislralion costs Events lor bursary iecipignts Education costs Consultancy fees Office gxpen$8s and training 2,000 64,126 5,154 15,567 11,507 20,794 1,000 2,000 64,128 5,154 55.109 11.507 20.794 1.000 2.000 fj0,855 3,031 59,592 9.129 39,542 2.875 440 647 647 120,795 39.542 160,337 137,922 127,772 39.542 167,314 144.026 Induded witt)in 8ccounlancy fe&8 Is £1.050 plus VAT12024.. £9501 lor servlces provlded by th& indepèndent examiner lor the preparation of these flnoncial stalemenls. The average number ol employees during tho year was 312024.. 31. Personnel cos¢$ include pension co$is of £2,438 12024.. £3,246>. In 2025 Ihgre were no employee5 who received employee benefits of more than £60,00012024'. none). Tru$t•e$' r•mun•r•tlon 4nd TruJtee•' b•n8flts During the currenl 8nd prior year, no Trustees rec6lved any remuner8Uon, benefits In kind or had eXnSeS reimbursod. Ogbtorn 2025 2024 Prepayments 8nd acLrued nm8 Other debtors 763 14,259 763 8,250 15,022 9,013 12-
MGCFUTURES LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Credltors.. amount8 falllng due wlthln on¢ y••r 2025 2024 Ae¢wals and deferred income Taxalion and social security 4,440 1,082 4.090 1,320 5,522 5,410 Analysls of Net Asset5 betw••n Funds Unr•8trlct•d Funds R•Btrf¢t•d Funds Total fund• 2025 Current assets Current liabilities 126.851 15,5221 2,170 129,021 15,5221 121,329 2.170 123.499 Unr•strlcted Funds Restrlct•d Funds Total funds 2024 Curr8nl assets Curwnt liabllitles 147,112 15.4101 36.495 183,607 15,4101 141,702 36,495 178.197 Reslricled funds include £nll12024.' £30,0851 which is lo bè used lor the purpos8s of th9 bursary Scheme and £2,17012024.. £6,409) which is lo be used for a specifi¢ bursary award. R•lat•d party tr•nsact5on• Included within donations lor the yoai were amounts lolalling £7,941 12024.. £11,194) from Trustegs of Ihe Charity. There were no c¢Jndits'ons plaGed on these don81ions. 13-