oo W Q é) 4) wil A ay MYTan ENES HAY WM 5S yY WO FO OBve vu so PAG _— EZ- Z Caplor Horizons () Annual Report 4A 2024-25 Registered Charity Number: 1157696 0 Registered Company Number: 08901760 i JN?
| TRUSTEE REPORT | 1 – 19 |
|---|---|
| STATEMENT OF TRUSTEE RESPONSIBILITIES | 20 |
| INDEPENDENT EXAMINER'S REPORT | 22 |
| STATEMENT OF FINANCIAL ACTIVITIES | 23 |
| BALANCE SHEET AND CASH FLOW | 24-25 |
| NOTES TO THE FINANCIAL STATEMENTS | 26-33 |
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As Chair, I continue to be inspired by the way Caplor Horizons shows up in the world: not with all the answers, but with deep curiosity and respect, a willingness to listen and learn, and a commitment to justice.
We don’t just support others to lead change; we hold ourselves accountable to change too. For example, this year we’ve taken a close look at how we lead and operate – strengthening our shared leadership model, assessing our governance against the Charity Governance Code, refining our business model, setting a bold new strategy for the next three years, and refreshing our visual identity.
Thank you to all who have contributed this year – with time, thought, challenge and care. This annual report is a celebration of what we’ve achieved together, and an invitation to keep going.
This past year has reminded us that change is not a linear journey. Across the sectors we work in, we’ve witnessed uncertainty and resilience in equal measure.
While global systems continue to creak under pressure – from political instability to the increasing impacts of climate change – there is also a quiet movement unfolding: people choosing to lead differently.
We are proud to support leaders and change makers – especially those often pushed to the margins – who are asking better questions, shifting power, and reimagining what’s possible.
Our work this year has ranged from launching international leadership programmes to supporting grassroots organisations to develop their strategy, from coaching individuals at different levels, to helping organisations navigate tough conversations that drive meaningful progress.
We’ve also looked inward. We’ve dedicated time to renewing our strategy and branding enabled us to better live our purpose: to be courageous, compassionate and creative in facilitating transformational change . Central to this has been continuing our commitment to feminist and anti-racist practices – challenging ourselves to unlearn, to confront bias, and to build more inclusive and just ways of working.
A special moment for our team this year was officially welcoming Kemal as a Co-Director in September 2024. Kemal has been part of Caplor’s journey from the very beginning – first as partner, then as an advisor, and more recently as ‘Director of Collaboration’. It goes without saying that he brings a wealth of complementary and diverse skills to our shared leadership approach.
As our last Annual Report covering 10 years (read here) was so detailed, this annual report offers a smaller snapshot of the multitude of work we’ve done over the past year brought to life through the power of storytelling.
We are grateful to the many people and partners who continue to walk alongside us – challenging, inspiring, and propelling us all towards a more sustainable future.
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We develop resilient leaders, effective organisations, and contribute to a
We work with not-for-profits and businesses committed to sustainable change
thriving world
Change makers creating a sustainable future
To be courageous, compassionate and creative in facilitating transformational change
Courage, Compassion, Creativity
Since we were established in 2014, we have worked with more than 150 partners and clients across 50 countries. We are a not-for-profit based in the UK.
We provide support in leadership development, including coaching. We facilitate change processes, such as strategy renewal, organisational culture, effective governance and more. We amplify our impact – for example, by sharing our learning and resources, and promoting the work of our partners and clients. Read our strategy here.
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We work with you to bring about sustainable, transformational change
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We journey alongside you to find greater direction, balance and confidence
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We create dynamic and engaging opportunities for you to learn and connect
We have four core team members, supported by a wider group of specialist advisors.
“Undoubtedly, what sets Caplor Horizons apart is their sincere commitment to making a meaningful impact on the lives they engage with.” – Dr Ibtissam Al-Farah, Coordinator of Sisters Not Strangers Coalition
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Our charitable objectives
1. To promote sustainable development for the benefit of the public by:
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The preservation conservation and protection of the environment and the prudent use of resources;
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The relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities;
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The promotion of sustainable means of achieving economic growth and regeneration.
And to advance the education of the public in subjects relating to sustainable development and the protection, enhancement and rehabilitation of the environment and to promote study and research in such subjects provided that the useful results of such study are disseminated to the public at large.
Sustainable development means development which meets the needs of the present without compromising the ability of future generations to meet their own needs.
2. To advance the education of the public in their knowledge and understanding of effective leadership, strategy and management and to mentor, coach and provide training in and develop effective leadership, strategy and management skills to individuals, communities and organisations with particular reference to charities and the not-for-profit sector;
3. To advance community development by the promotion of civic responsibility, volunteering, the voluntary sector and the effectiveness and efficiency of charities; and
- To advance such other exclusively charitable purposes as are compatible with the purposes referred to above, as the Trustees in their discretion think fit.
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The number of The number of 770 i819 6 change makers we worked with people we coached The number of sessions we delivered: 130] We continue O | The number of 7 27% online, 73% in-person to be a organisational Carbon Zero strategies we organisation developed or renewed 256 \ The number of volunteer days from our Advisors YeF\ QO] oe The number of our Value of their Ripple Papers we contribution updated or published in kind ea] 5S We worked to deliver their with work across The number of people our newsletters reached in 318 30 20008) organisations different countries over 30 different countries
“Caplor Horizons have provided exceptional guidance along with flexibility, reliability and commitment which has made our staff feel safe and supported throughout the process.” – Mary Rice, CEO of Environmental Investigation Agency
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We are committed to understanding the deeper difference our work makes. That’s why we don’t just count activities – we reflect on the change those activities spark.
We define impact as “the direct and indirect, intended and unintended, positive and negative long-term effects of an intervention.” In other words, we are interested not just in what we do, but in how it shifts behaviour, systems and mindsets.
We measure, capture and report on our impact to help us see what’s changing, what’s working, and where we can do better. This process helps us track progress against our strategy, celebrate the positive change our work contributes to, and continuously improve the way we operate.
Our approach to impact is grounded in our Theory of Change, symbolised by our ‘ripples on a pond’ model – recognising that change often begins with individuals, flows through organisations, and ultimately influences wider society.
The next few pages offer a few snapshots of our work – stories that bring our impact to life. Each one gives a flavour of the different contexts we work in, and the kinds of behaviour change we aim to support. We feature a global not-for-profit (CBM Global), a UK-based family business (Birds), and an international philanthropic organisation (Small Foundation), alongside examples of our thematic work – women and children (Ella’s), displaced people (Sisters Not Strangers), and the environment (VoteClimate). We've also included a snapshot of our internal impact through our rebranding journey.
As you explore these stories, we invite you Read more of our to consider: testimonials here What shifts in learning, thinking, or action can you see? What ripples are a= being created?
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Snapshot of our work CBM Global Leading with Head, Heart and Hands
CBM Global works alongside people with disabilities in the world’s poorest places to fight poverty and exclusion and transform lives
In 2024, CBM Global set out to strengthen leadership across its diverse Federation – spanning over 20 countries with 6 member countries, 12 country teams, and 6 technical teams.
We undertook two parallel streams of work, all online. The first stream was carried out through 4 workshops involving approximately 50 leaders from across the Federation.
This led to the development of a ‘Leadership Way’. This brings together 9 leadership attributes with other elements fundamental to their organisational culture, such as their values and foundational principles, and presents these in a coherent ‘head, heart and hands’ model.
As Robert Donnelly, International Director, shared:
“Thanks to the inclusive and facilitative approach led by Caplor, we now have a clear leadership standard and approach, widely embraced across the Federation, to guide our practice.”
Alongside this, 30 leaders participated in a 12-month leadership development programme codesigned and co-delivered by Caplor Horizons and CBM Global.
This programme 90% of people reported a growth in their leadership skills was successful:
The following comments of two participants help illustrate the positive contribution made.
“Throughout the programme I was able to step out of my comfort zone and challenge myself to speak my thoughts to the wider group. Having the smaller breakout sessions really helped in growing my confidence.”
“I enjoyed celebrating our diverse leadership styles that make us stronger and more accountable.”
With a second year underway and a new cohort joining, the impact continues. By equipping leaders to listen deeply, reflect openly, and lead inclusively, CBM Global is not only transforming internally, but also strengthening its ability to drive change worldwide.
“Working with Caplor Horizons as our partners has been truly eyeopening and transformative. They are continuously a great support to us on our leadership development journey.”
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Snapshot of our work
HIE A Recipe for Leading Change
Birds is a UK family-owned business with over 800 staff and 61 shops serving fresh bakery goods since 1919
In 2024, as the business faced a new era of leadership and shifting customer habits, Birds partnered with Caplor Horizons to guide a cultural and strategic transformation. This took a three-step approach:
Where are we now and what have we learnt?
To understand a ‘breadth’ of people’s views, we facilitated the company’s first ever all staff survey. With a 75% response rate, it gave us a clear picture of the existing culture and a strong baseline to measure future progress.
We then facilitated focus groups with over 100 employees to explore the ‘depth’ of feeling within the organisation.
As Lesley Bird and “Our employees found the experience enriching. They felt Jamie Bird, Joint comfortable enough to interact with Caplor Horizons in an Managing honest and open way. Their initial feelings of apprehension Directors, shared: soon disappeared.”
Where are we going?
Drawing on these insights, we helped Birds co-create a clear strategy summary and supported them to better articulate their desired culture and organisational values. We also contributed to conversations about their structure. Our focus was on a stronger sense of shared direction and greater clarity in communication across teams.
“With every session we develop more as a team, we become more aware of our colleagues. We become more focussed on achieving our goals in specific teams across the business as well as one big team.”
How are we going to get there?
To bring the strategy and culture to life, we introduced a ‘Transforming Leadership Programme’ in early-2025 for 40 people across the business. In addition, we are providing coaching for key leaders. The focus is on enabling individuals to grow in confidence, lead more inclusively, and work together more effectively. Tools like the Caplor House have made learning practical and accessible.
“Caplor have challenged us, been patient with us, and provided the inspiration for those ‘lightbulb moments’. They’ve given us the confidence to face the future head on.”
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Snapshot of our Small ; Foundation Strengthening Team Culture
Small Foundation is an Irish philanthropic organisation, working to improve income-generating opportunities for people living in extreme poverty in rural sub-Saharan Africa
With a small international team working across multiple jurisdictions, collaboration, communication and adaptability are crucial to Small Foundation’s success.
Since May 2024, Caplor Horizons has supported Small Foundation to strengthen their teamworking and organisational culture. Through in-person and online team sessions, we’ve helped deepen the team’s understanding of individual preferences and behaviours, using the Caplor House model among others, while developing skills in communication and collaboration.
“I learned more about myself, I learned more about team perceptions of me, and I gained tools to think about how the team could work together more effectively.” “One of the more useful personality exercises I've done, interesting to see where everyone landed. I like that Caplor Horizons emphasise fluidity.”
More recently, we facilitated an inclusive process to co-create and bring to life Small Foundation’s organisational values. According to Elizabeth Wilson, Deputy CEO, the process has been “consultative and inclusive,” with team members responding positively to “the pace and diversity of the sessions as well as the quality and meaningfulness of the content.”
Elizabeth also
shared her views “I have found them to be responsive, creative and proactive in their suggestions and delivery. They go above and beyond in on working with listening to our reality; they pay attention to detail.” Caplor Horizons:
We’re proud to be part of Small Foundation’s journey as they continue to grow their team’s effectiveness and scale their impact in some of the world’s most challenging contexts.
“I was a bit surprised by how much I enjoyed the session to be honest. I really enjoyed the strengths cards exercise. It was actually quite emotional and complimentary to hear what my colleagues think of me.”
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Snapshot of our thematic work
Ella’s is a London-based charity supporting women who have survived trafficking and sexual exploitation. In 2023, it launched a Survivor Advisory Board – part of its commitment to centring survivor voices. The board comprises five women with lived experience of trafficking and exploitation. Facilitated by Rosie, the group meets regularly to guide Ella’s’ work. As ‘experts by experience’, members use their insights of UK support services to ensure Ella’s is person-centred, inclusive, and sustainable. Their influence has already been significant: contributing to new staff roles, shaping safe house environments, and advising on communications.
“I am so glad that we are able to turn our pain into power and use our experiences to help other women”; “I feel grateful and privileged to be part of this group”; “We can speak out directly, rather than being spoken for”
Sisters Not Strangers (SNS) is a bold coalition of asylum-seeking and refugee women leading campaigns to end destitution and other inhumane asylum policies. Since late 2023, Caplor Horizons has worked alongside SNS to run workshops on feminist leadership, campaign strategies and fundraising. We also supported the team to develop a three-year strategy. Their clarity of purpose, investment in leadership growth, and commitment to inclusive organising has been deeply inspiring. With continued support, SNS is expanding its skills and reach, creating lasting change for displaced women across the UK.
“This coalition is a place of empowerment and respect... what we lost, when going through the asylum system, we have found here.”; “Change has taken place not outside but within me. And I now feel able to transfer that inspiration to other women.”
VoteClimate is a membership organisation in the UK that help you decide how to vote most powerfully for the climate. Our collaboration arose from an incubation process of an environmental advocacy initiative called The Commitment which subsequently joined forces with VoteClimate. Describing the journey, founder Ben Horton said,
“I started VoteClimate full of energy but with zero experience running a non-profit. William, Peter and the extended Caplor family have provided invaluable help, enabling VoteClimate to grow from an amateur enthusiasm to a sustainable, focussed, effective organisation, through their facilitation of key meetings, IT and strategy advice, mentoring and much more. For example, thanks to Caplor we have a strategy and plan, coherently charting the long, medium and short-term direction of VoteClimate.”
This collaboration is a strong example of Caplor’s commitment to environmental leadership – supporting grassroots action, capacity development, and amplifying voices for climate justice.
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SnapshotRebrandin of our work
A fresh new look at Caplor Horizons
We recently undertook a creative and thoughtful rebranding process – our first since Caplor Horizons began in 2014
Our aim was to refresh our brand to better reflect who we are and what we do, to raise our profile and voice, to enhance our resource accessibility, and to attract the kind of partners, work and conversations that matter to us.
This process was also part of our wider commitment of becoming an anti-racist organisation – examining the language and imagery we use, and ensuring they are inclusive and representative.
As part of this transformation, we identified our brand personality in terms of our traits & mood:
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Traits – trustworthy, playful, reflective, creative, compassionate, courageous, wise, confident
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Moods – warmth, natural, energy, excitement, soul, safe hands, humour, difficult, messy
We have also developed a new logo with flying geese, updated our colour palette combining burnt orange (energy, enthusiasm and warmth) with teal (balance, calmness and trust), developed a diverse range of new icons and graphics in a distinctive line-drawing style, and refreshed our website.
During our branding launch, we received the following feedback from our Caplor Community:
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“The Caplor Horizons DNA shines through, and I think that the simplification of some of the graphics and messaging works incredibly well. I love it! The
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refreshed brand style is bold, cohesive and memorable – three of the most important factors when considering brand development.” Simon Oldroyd
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“It looks “Courageous, “It looks “Love the new
creative, confident professional yet brand and colours
fresh and and welcoming, clear and graphics –
engaging. inspiring.” and informative really clear and
Great work.” Mary but not corporate.” strong.”
John Berry O’Connell Gareth Jones Minke Van Til
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The collective effort of the team ensured that the rebrand wasn’t just a design project – it was a “It’s moment of reflection, connection, and alignment with our values. As one supporter put it, very Caplor.”
We look forward to heading into the future with a brand that feels true to who we are: creative, bold, and ready to journey alongside those we serve.
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Over the past year, we’ve taken time to pause, reflect and learn. Some of our key breakthroughs as a result include:
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Sharpening our strategic focus around three core workstreams : transforming leadership, leading change, and amplifying impact. Read our ‘deeper diver’ ripple papers on ‘Essentials of Transforming Leadership’ (work in progress) ‘ ’
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and Essentials of Leading Change .
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Embedding our feminist and anti-racist approaches more deeply into both our strategy and day-to-day actions.
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Emphasising the importance of engaging with the business sector as well as the not-for- .
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profit sector
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Gaining greater clarity on our approach to advocacy/influencing – supporting our partners and clients to advocate on topics that matter to them, rather than directly advocating ourselves – unless in areas where we have a particular expertise e.g. shared leadership.
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Strengthening our shared leadership ecosystem through a review led by our board, further work on the Enneagram supported by Dr Lynne Sedgmore, and the articulation of our 10 guiding principles. Find out more in our updated ripple paper ‘Essentials of Shared ’
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Leadership .
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Increasing our use of Artificial Intelligence to work smarter, not harder – whilst remaining alert to its limitations and ethical implications.
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Undertaking a pricing review that led us to increase our standard daily rate (for the first time since starting), while reaffirming our commitment to a tiered model that keeps our work accessible to those who might not otherwise be able to afford it.
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Having clarity of purpose in our rebranding process that enabled confident design and messaging choices, unlocking bold thinking by aligning our rebranding with our strategy renewal, embracing creativity, and letting go of “how it’s always been”.
We’ve also faced some challenges, many of which are not new…
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Making space to focus on our internal development , for example developing our fundraising, networks, resources, relationships etc, while at the same time delivering our work with our partners and clients.
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Navigating differing working styles and preferences , especially around pace and decision-making, while striving to strike the right balance between ‘being’ and ‘doing’.
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Managing the impact of increased UK and international travel – financially, environmentally, and in terms of team capacity and health and wellbeing.
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Sustaining wellbeing and resilience when work with partners is emotionally intense or complex.
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Holding the tension between financial sustainability and mission alignment when choosing clients or projects.
“Do the best you can until you know better. Then when you know better, do better.” – Maya Angelou
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Caplor Horizons’ total income for April 2024 to March 2025 was £303,667 and expenditure was £314,412, leading to an overall deficit of £10,745. The primary reason for the deficit was to reinvest our reserves in strategic initiatives and providing pro bono services. Our aim was also to gradually reduce our reserves which were exceeding our reserves policy.
As a result of this year, our unrestricted reserves level has decreased from £132,525 to £121,780.
Caplor Horizons’ income, expenditure and funds over the last 11 years have been included in the graphs below. Income in this financial year decreased by approx. £99,500 compared to the previous financial year. This was due to a scaling down of The Commitment. Caplor Horizons’ core work (unrestricted) actually saw an increase in income of approx. £40,000 and increase in expenditure of approx. £54,000.
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Principal funding sources for Caplor Horizons are currently by way of grants and donation and earned income from our charitable activities.
Having taken stock of practice more widely in the sector externally, and considered various factors internally, including analysing income and expenditure trends, it has been agreed by Trustees that the free reserves held by Caplor Horizons should equate to a minimum of 2 months of average expenditure with an optimum target of 4 months. This means the minimum to optimum range is currently £52,402 to £104,804. We hold £118,262 in free reserves.
All funds are currently held in current accounts and instant access deposits. The Trustees do not consider that funds are sufficient to consider long term investments.
As of 31[st] March 2025, Caplor Horizons has completed its third strategy cycle and will start a new strategy. This has also involved a rebranding process and refocussing of services and business model.
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. In addition, Caplor Horizons has produced a Governance Guide for Trustees. This is regularly updated.
| Name | Role | Appointment Date | ||
|---|---|---|---|---|
| Laura Adams | Chair of the Board | 1 April 2015 | ||
| Emma Hillyard | Trustee and Chair of the Finance | 3 December 2020 | ||
| Committee | ||||
| Shivani Singhal | Trustee | 21 January 2022 | ||
| Jonathan Kazembe | Trustee | 21 January 2022 | ||
| Elouise Mayall | Trustee | 21 January 2022 | ||
| Nimisha Sachdev Bhakta | Trustee | 21 January 2022 | ||
| Peter Moore | Board Secretary (not a Trustee) | |||
| Sharan Kelly | Trustee | 13 June 2024 | ||
| Clement Mukuka Sindazi | Trustee | 13 June 2024 | ||
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As set out in the Articles of Association the Board of Directors shall consist of a minimum of 3 Trustees. Caplor Horizons has 8 Trustees appointed for their skills, experience and commitment they bring. A skills audit of Trustees has been undertaken and this can be found in the Caplor Horizons Governance Guide.
New Trustees are elected at the AGM or by the Board at a regular meeting. The legal constitution requires Trustees to retire by rotation every three years, but there is no legal maximum period. Accordingly:
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Trustees have a term limit of three years and can be reappointed up to twice
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Reappointment is not automatic and depends on a review by the Trustee and the Chair of the Trustee’s contributions to the Board
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Trustees will in most cases serve for a maximum of nine years but may stand for reelection after a one-year gap
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The Chair will not be subject to a maximum term as Trustee of nine years
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There is no age limit for serving as a Trustee
The Board operates two processes for selecting Trustees: a demand-driven gap-filling process and a supply-driven process responding to suitable individuals. In both processes the final formal steps involve paperwork prescribed in Articles 34 and 35 of the Articles of Association. In the gap-filling process, the Board as a whole or a special committee identifies gaps in the expertise and imbalances in the diversity of the Board based on a Trustee Matrix. In the recruitment process responding to suitable individuals, the Chair and Co-Directors meet from time to time (normally informally) to discuss the names of potential Trustees, either ones they or other Trustees have come up with, or individuals who might have approached the charity. More information can be found in our Governance Handbook here.
During induction new Trustees are provided with opportunities to meet other Trustees online and in-person, as well as members of the Core Team. Where helpful they are paired with a ‘buddy’ (another Trustee). Further reading and relevant courses and information are also shared with them. Trustees are encouraged to take part in Caplor Horizons activities for their own learning. The Chair and Board Secretary also lead an annual process of review in which Trustees reflect on the performance of their work on the Board over the last year as part of a review of the Board as a whole. The review is in confidence and includes individual achievements and the scope for enhanced contributions or changes in role in the following year.
Trustee meetings take place regularly and are supported by the following committees: Finance Committee and a People and Planet Committee. At the Trustee meetings, the Trustees review the performance against the strategy and areas of activity for Caplor Horizons, including reserves, risk and performance. The day-to-day administration and management are delegated to the staff and Advisor team.
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The Co-Directors and Chair of the Trustees communicate on a regular basis; the Chair of the Finance Committee communicates on the financial performance and position to the Board of Trustees when it meets.
In accordance with the Charity Commission guidance on public benefit, the Trustees of Caplor Horizons confirm that they have given due regard to this guidance when reviewing the charity's aims and objectives. Caplor Horizons meets its public benefit requirement by being courageous, compassionate and creative in supporting individuals, communities, and organisations worldwide to enhance their leadership capabilities and sustainability practices, fostering positive social and environmental impacts globally.
The salaries of staff are reviewed annually with the support of the People and Planet Committee; it is considered in line with the changing responsibilities, growth of the organisation alongside benchmarking within the sector.
Our Remuneration Policy takes into consideration three main areas: affordability, fairness and competitiveness. The pay ratio is monitored to underpin the commitment to fairness. It measures the factor by which the highest salary compares to the lowest. The policy is to keep this ratio within a limit of 3:1.
Caplor Horizons takes very seriously the management of risks to which the charity is exposed whilst at the same time, being an entrepreneurial organisation, which strives to make the most of all opportunities in pursuit of our vision and mission. Our approach to Risk Management therefore endeavours to strike a balance between mitigating and managing risks, while ensuring that the organisation retains the flexible, decentralised and responsive character that has enabled it to succeed and flourish in the early stages. We would characterise this as a ‘risk-aware’ rather than a ‘risk-averse’ approach, which emphasises the identification, anticipation, and active management of risks and related opportunities.
Caplor Horizons is committed to being an exemplar learning organisation. This is expressed in many ways, from the renewal of its strategy through to the way it carries out its programmes; also in the way it develops its policies and systems. In particular, Caplor Horizons has undertaken an ongoing policy review process to ensure that appropriate policies are in place and that they are at an appropriate standard – for instance, whistleblowing and safeguarding.
Risk Management Process: Trustees receive an update on organisational risks in the CoDirector’s Report for discussion at Board meetings every quarter.
Sustainability is central to everything we do. Our sustainability policy is of paramount importance to us. It informs and underpins all our other policies plus our handbooks. We recognise that issues relating to a sustainable future are complex and interconnected. It may involve trade-offs. Tackling one concern may have foreseen and unforeseen consequences, which may positively and negatively impact on many other issues. We define a “sustainable future” as one in which our 4Ps of sustainability are pursued boldly, simultaneously and effectively. These 4Ps are purpose, planet, people, prosperity.
Click here to read our Sustainability policy.
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Safeguarding Policy
Protecting children, young people and vulnerable adults from harm is central to achieving our vision of achieving a world in which social, environmental and economic progress in balanced. Recognising we are following and sharing best practise in the sector and have robust safeguarding policy in place. DBS checks are carried out when required.
Click here to read our safeguarding policy.
Given EU regulations we are maintaining an up to date and effective data protection privacy protection policy.
Click here to read our privacy policy.
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Registered Company Number
08901760 (England and Wales)
Registered Charity Number
1157696/0
Registered Office
35 Scotch Firs Fownhope Hereford HR1 4NP
Trustees
Laura Adams (Chair) Emma Hillyard (Chair of Finance Committee) Shivani Singhal Jonathan Kazembe Elouise Mayall Nimisha Sachdev Bhakta Sharan Kelly – appointed on 13 June 2024 Clement Mukuka Sindazi – appointed on 13 June 2024
Independent Examiner
Michelle Ferris FCA DChA Albert Goodman Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Core Team
Lorna Pearcey (Co-Director) Ian Williams (Co-Director) Rosie Bishop (Co-Director) Kemal Shaheen (Co-Director)
The trustee report was approved by the Board of Trustees
Signed
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The trustees, who are also the directors of Caplor Horizons for the purpose of company law, are responsible for preparing the Trustee Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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Caplor Horizons
For The Year Ended 31 March 2025
Charity registration number 1157696 Company registration number 08901760 (England and Wales)
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To the Trustees of Caplor Horizons
I report to the charity trustees on my examination of the accounts of Caplor Horizons (“the Company”) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not comply with these records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a “true and fair view” which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
……………………………..
Michelle Ferris FCA DChA Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Date 07 October 2025
22
Including Income and Expenditure Account
For the year ended 31 March 2025
| Unrestricted Funds |
Restricted Funds |
Total | Unrestricted Funds |
Restricted Funds |
Total | ||
|---|---|---|---|---|---|---|---|
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income from: | |||||||
| Donations and Legacies |
3 | 66,342 | - | 66,342 | 68,567 |
4,759 | 73,326 |
| Charitable Activities |
4 | 235,058 | - | 235,058 | 192,334 |
135,307 | 327,641 |
| Investments | 5 | 2,267 | - | 2,267 | 2,145 | - | 2,145 |
| Total Income | 303,667 | - | 303,667 | 263,046 | 140,066 | 403,112 | |
| Expenditure on: | |||||||
| Raising Funds | 6 | - | - | - | - | - | - |
| Charitable Activities |
7 | 314,412 | - | 314,412 | 260,403 | 191,893 | 452,296 |
| Total expenditure |
314,412 | - | 314,412 | 260,403 | 191,893 | 452,296 | |
| Net income/ | |||||||
| (expenditure) for | |||||||
| the year/ Net | -10,745 | - | -10,745 | 2,643 | -51,827 | -49,184 | |
| movement in | |||||||
| funds | |||||||
| Fund balances at 1 April 2024 |
132,525 | - | 132,525 | 129,882 | 51,827 | 181,709 | |
| Fund balances | Fund balances | ||||||
| at 31 March | 121,780 | - | 121,780 | 132,525 | - | 132,525 | |
| 2025 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
23
As at 31 March 2025
| As at 31 March 2025 | |||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2025 | 2024 | |||||
| Notes | £ | £ | £ | £ | |||
| Fixed assets | |||||||
| Tangible assets | 13 | 3,518 | 4,173 | ||||
| Current assets | |||||||
| Debtors | 14 | 6,567 | 45,423 | ||||
| Cash at bank and in hand | 144,257 | 133,729 | |||||
| 150,824 | 179,152 | ||||||
| Creditors: amounts falling due within one year |
15 | -32,562 | -50,800 | ||||
| Net current assets | 118,262 | 118,262 | 128,352 | ||||
| Total assets less current liabilities | 121,780 | 121,780 | 132,525 | ||||
| Income funds | |||||||
| Restricted Funds | 17 | - | - | ||||
| Unrestricted Funds | 17 | 121,780 | 121,780 | 132,525 | |||
| General unrestricted funds | 121,780 | 121,780 | 132,525 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on ......................... 29/09/25
.................................... hoes det. LAURA ADAMS Trustee
Company Registration No. 08901760
24
For the year ended 31 March 2025
| Notes | 2025 | 2024 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £ | ||
| Cash flows from operating activities |
20 | ||||||
| Cash used in operations | 9,308 | -73,762 | |||||
| Investing Activities | |||||||
| Purchase & Disposal of tangible fixed assets |
-1,047 | -1,047 | -2,502 | -2,502 | |||
| Investment income received | 2,267 | 2,267 | 2,145 | 2,145 | |||
| Net cash used on investing activities |
1,220 | -357 | |||||
| Net cash used in financing | |||||||
| activities | - | - | |||||
| Net increase in cash and cash equivalents |
10,528 | -74119 | |||||
| Cash and cash equivalents at beginning of year |
133,729 | 207,848 | |||||
| Cash and cash equivalents at end of year |
144,257 | 133,729 |
25
For the year ended 31 March 2025
1 Accounting policies
Charity information
Caplor Horizons is a private company limited by guarantee incorporated in England and Wales. The registered office is 35 Scotch Firs, Fownhope, Herefordshire HR1 4NP
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
The trustees report an unrestricted deficit of £-10,745 (2024: £2,643 surplus) and a restricted surplus of £0 (2024: £51,827 deficit).
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is included in the Statement of Financial Activities (SoFA) when:
-
The charity has entitlement to the funds;
-
any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity or its subsidiary;
-
there is sufficient certainty that receipt of the income is considered probable; and
-
the amount can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS 102 SORP).
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
26
Expenditure on charitable activities includes all costs relating to the furtherance of the charity’s objectives as stated in the trustees report and their associated support costs.
The charity has incurred expenditure on support costs.
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Individual fixed assets costing £1000 or more are capitalised at cost.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings: 10% reducing balance Computers: 33% reducing balance
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.
27
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12 Taxation
As a registered charity, Caplor Horizons is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only.
1.13 Pension Costs
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
28
3 Donations and legacies
| Donations For the year ended March 2024 4 Charitable Activities Sales within charitable activities Performance related grants Other income Analysis by fund For the year ended March 2024 Performance related grants Miranda Trust CB & HH Taylor Trust Oakdale Trust EFN 5 Investments Interest Received |
Unrestricted Funds 2025 £ 66,342 |
Restricted Funds 2025 £ - |
Total 2025 £ 66,342 2024 £ 177,334 150,307 - |
Total 2024 £ 73,326 |
||
|---|---|---|---|---|---|---|
| _68,567 _ | _4,759 _ | 73,326 | ||||
| Unrestricted Funds 2025 £ 235,058 |
2025 £ 218,058 17,000 - 235,058 Restricted Funds 2025 £ - |
Total 2024 £ 327,641 |
||||
| 327,641 | ||||||
| Total 2025 £ 235,058 2024 £ 134,807 10,000 5,000 500 150,307 Unrestricted Funds 2024 £ 2,145 |
||||||
| 192,334 | 135,307 | |||||
| 2025 £ - 10,000 7,000 - 17,000 Unrestricted Funds 2025 £ 2,267 |
||||||
29
6 Raising funds
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Fundraising and publicity | - | - |
| Other fundraising costs | - | - |
7 Charitable activities
| Staf costs Advisor Fees General expenses Insurance Foreign Currency gains Postage, freight & courier Travel - International Travel - National Legal Expenses Share of support costs Share of governance costs Analysis by fund Unrestricted funds Restricted funds |
2025 £ 241,559 - 236 2,568 112 20 10,876 26,272 - 281,644 30,248 2,520 314,412 314,412 - 314,412 |
2024 £ 345,685 3,308 8,904 2,495 - 84 42 7,270 31,273 1,297 |
|---|---|---|
| 400,190 49,906 2,200 |
||
| 452,296 | ||
| 260,403 191,893 |
||
| 452,296 |
8 Support costs
| Support costs £ Depreciation 1,703 Advertising - Audit & accountancy 4,682 Bank fees 489 Subscriptions 718 IT maintenance 9,159 Printing & stationery 610 Staf training 11,599 Telephone & internet 1,289 Independent Examination Fees 30,248 |
Governance costs £ 2,520 2,520 |
2025 £ 1,703 - 4,682 489 718 9,159 610 11,599 1,289 2,520 32,768 |
2024 Basis of allocation £ 1,852 Support 8,034 Support 6,723 Support 806 Support 1,104 Support 17,870 Support 328 Support 12,724 Support 465 Support 2,200 Governance 52,106 |
|---|---|---|---|
30
9 Net movement in funds
| Net movement in funds | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Net movement in funds is stated after charging/crediting | ||
| Independent examination fee | 2,520 | 2,200 |
| Independent examination fee under accrual from prior period | 120 | 20 |
| Depreciation | 1,703 | 1,852 |
| Loss on disposal of assets | - | 1,083 |
10 Trustees
During the year, one trustee received expenses from the charity totalling £206 (2024: 4 trustees, £629). These expenses were for travel and accommodation for board meetings.
During the year, no trustees made donations to the charity (2024:NIL).
No trustees received any other payments or remuneration (2024: £NIL).
11 Employees
Number of employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2025 Number 4 2025 £ 210,000 18,959 12,600 241,559 |
2024 Number 7 2024 £ 302,370 26,460 16,855 |
|---|---|---|
| 345,685 |
No employee received emoluments in excess of £60,000 (2024: £NIL).
Key Management Personnel
The key management personnel of the charity comprise the Co-Directors as detailed in the Trustees Report. The total employee benefits of the key management personnel of the charity was £241,559 – 4 Co-Directors (2024: £184,919 – 3 Co-Directors)
12 Other
| Net loss on disposal of tangible fxed assets | Unrestricted funds £ 2025 - - |
Total £ 2024 1,083 |
|---|---|---|
| 1,083 |
31
13 Tangible fixed assets
| 13 Tangible fxed assets |
|||
|---|---|---|---|
| Cost At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation and impairment At 1 April 2024 Depreciation charged in the year At 31 March 2025 Carrying amount At 31 March 2025 at 31 March 2024 14 Debtors Amounts falling due within one year: Trade Debtors Other Debtors Prepayments and Accrued income 15 Creditors Amounts falling due within one year: Taxation and social security Trade Creditors Other Creditors Accruals VAT Deferred Income 16 Deferred Income Income in advance of service delivery Balance brought forward Income received Income released |
Fixtures and fttings £ 1,419 - 1,419 808 61 869 550 611 |
Computers £ 10,163 1,047 - 11,210 6,601 1,641 8,242 2,968 3,562 2025 £ 5,451 472 638 6,567 2025 £ 21,019 2,907 25 2,750 5,861 - 32,562 2025 £ 5,014 -5,014 - |
Total £ 11,582 1,047 - |
| 12,629 | |||
| 7,409 1,702 9,111 |
|||
| 3,518 | |||
| 4,173 | |||
| 2024 £ 30,127 14,658 645 |
|||
| 45,423 | |||
| 2024 £ 6,870 4,212 26,054 3,900 4,750 5,014 |
|||
| 50,800 | |||
| 2024 £ - 5,014 |
|||
| 5,014 |
32
17 Movement in Funds
| Restricted Funds Unrestricted Funds General Funds Movement in Funds 2023-24 Restricted Funds The Commitment Children Watch Unrestricted Funds General Funds |
Opening Balance at 01/04/2024 - - 132,525 132,525 Opening Balance at 01/04/2023 44,602 7,225 - 129,882 181,709 |
Incoming Resources - 303,667 303,667 Incoming Resources 140,066 263,046 403,112 |
Resources Expended - -314,412 -314,412 Resources Expended -184,668 -7,225 -260,403 -452,296 |
Balance at 31/03/2025 - - 121,780 |
|---|---|---|---|---|
| 121,780 | ||||
| Balance at 31/03/2024 - - - 132,525 |
||||
| 132,525 |
18 Analysis of net assets between funds
| Restricte d 2025 - |
Total 2025 3,518 150,827 -32,562 121,783 |
Unrestricted 2024 4,173 179,152 - 50,800 132,525 |
Restricted 2024 - - - - |
Total 2024 4,173 179,152 - 50,800 |
|---|---|---|---|---|
| 132,525 |
19 Related party transactions
There were no related party transactions in the year to March 2025 (2024: no related party transactions)
| 20 Cash generated from operations Surplus for the year Adjustments for Investment income Gain or loss on fxed assets Depreciation Movements in working capital Decrease (increase) in debtors Increase (decrease) in creditors Increase in deferred income Cash generated from operations |
2025 £ -10,745 -2,267 1,703 38,858 -18,238 9,312 |
2024 £ - 49,184 - 2,145 1,852 31,305 -55,590 |
|---|---|---|
| -73,762 |
33