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2025-12-31-accounts

IT’S A PENALTY

(Formerly HAPPY CHILD INTERNATIONAL FOUNDATION) (A Charitable Incorporated Organisation)

REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025

Charity No: 1161848

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

CONTENTS

Page

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

Reference and Administrative Information

Registered Charity Number

1161848

Trustees

The Trustees serving during the period were as follows:

K Corich C Williamson E McAlpine E McMahon R Aron I Falkenberg M Malik C Watson

Management

S De Carvalho MBE

Principal office

Leatherhead Institute 67 High Street Leatherhead KT22 8AH

Independent Examiner

Mr S Robinson Chartered Accountant The Pinnacle 170 Midsummer Boulevard Milton Keynes MK9 1BP

Page 1

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

Report of the Trustees

The Trustees present their Annual Report and financial statements of the Charitable Incorporated Organisation for the period ended 31 December 2025. The financial statements comply with the Charities Act 2011, the Trust’s Deed and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, Governance and Management

Charitable status

It’s a Penalty is a Charitable Incorporated Organisation (CIO) governed by its constitution and has charitable status under the Charities Commission Association, Charity Number; 1161848. The CIO was recognised by the Charity Commission on 27 May 2015.

Organisation structure

The Trustees assume responsibility for the overall management of the CIO. Day-to-day management is delegated to the Senior Management Team and Sarah De Carvalho is the Chief Executive Officer.

The Board of Trustees meets six times each year to discuss current and future projects and to approve decisions such as the appointment of new Trustees and the remuneration of the one key management employee.

Trustee Recruitment and Appointment

The Trustees were recruited with complementary skills and experience in mind from the corporate, public and third sectors. Each bring a contribution of global networking, strategic management, marketing, international development, accountancy. New Trustees are recruited by advertisement and/or recommendation by existing Trustees or the CEO.

Trustee Induction and Training

When recruiting new Trustees, the Board ensures that such candidates fully understand the Charity’s purposes and aims and possess the necessary skills to carry out their responsibilities.

Risk Management

The Trustees accept that the management of risk is ultimately their responsibility and, having examined the major strategic, business and operational risks which the CIO faces, confirm that appropriate control systems have been established to mitigate such risks, as far as is possible.

Pay policy for senior staff

The pay of the senior staff is reviewed annually, and changes are made based on factors such as changes in comparable average earnings and the financial position of the charity.

Change of accounting reference date

During the current period, the Charity has changed its accounting reference date. The financial year end has been extended from 30 September 2025 to 31 December 2025.

As a result, the current financial period covers the extended period from 1 October 2024 to 31 December 2025. Comparative figures remain unchanged and relate to the year ended 30 September 2024.

Page 2

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

Report of the Trustees (cont ’d )

Objectives, Activities and Performance for the Public Benefit

The CIO was established to preserve the health of children and young people around the world by protecting them from sexual and other exploitation and the relief of poverty of children and young people around the world by the provision of funds and services to relieve the effects of poverty.

The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefits when reviewing the CIO’s aims and objectives.

In pursuit of its aims and objectives, the CIO seeks to fundraise to protect children from exploitation, abuse and/or alleviating child poverty in cities hosting sporting events and elsewhere; grants to charitable organisations in cities hosting sporting events and elsewhere; campaign against child exploitation campaign for the enactment, strengthening and enforcement of legislation to protect children from sexual exploitation globally.

Summary of activities

It’s a Penalty is a UK-based Non-Governmental Organisation (NGO) with a global reach, working to end abuse, exploitation and human trafficking through large-scale awareness-raising campaigns, advocacy for legal and systems reform, education and capacity-building initiatives, and strategic partnerships across sport, travel, hospitality and civil society.

Campaigns

Each It’s a Penalty campaign harnesses the global reach of major sporting events to raise awareness of abuse, exploitation and human trafficking, increase public understanding of how to recognise and report exploitation, and strengthen prevention and safeguarding efforts locally and internationally.

– Super Bowl LIX, New Orleans, USA (January February 2025)

In advance of Super Bowl LIX in New Orleans, It’s a Penalty delivered its eighth Super Bowl human trafficking prevention campaign. Running from January through February 2025, the campaign sought to raise awareness of exploitation and trafficking risks associated with large-scale events, highlight indicators, promote reporting pathways, and support survivor protection efforts.

The campaign which took 9 months to develop including the convening of all key city stakeholders and partnerships for a city wide impact, was delivered in collaboration with a wide range of partners across hospitality, transport, aviation and civil society, and included digital communications, on-the-ground engagement, and targeted awareness materials distributed to residents, visitors and frontline workers.

Impact highlights included:

Survey findings showing that approximately 80% of respondents reported increased awareness of how to recognise and report human trafficking.

Partnership with the National Center for Missing and Exploited Children, contributing to the recovery and safeguarding of missing and exploited children during the campaign period.

Campaign film distribution through airline partners American Airlines, Southwest Airlines and British Airways, reaching millions of passengers globally.

The campaign generated an estimated 235 million impressions through press coverage, social media, and on-the-ground media placements across New Orleans.

UEFA Women’s EURO 2025, Switzerland (June– August 2025)

During the UEFA Women’s EURO 2025 tournament, It’s a Penalty delivered a coordinated, multilingual human trafficking awareness and prevention campaign across Switzerland and selected European transport hubs.

Page 3

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

Report of the Trustees (cont ’d )

Over 12 months the campaign leveraged partnerships with airlines, hotels, travel platforms, transport providers, local European and Swiss NGOs, and elite women footballers

to disseminate information on exploitation risks, indicators of trafficking and reporting mechanisms to international audiences.

Impact highlights included:

Post-campaign survey data indicating increased awareness of human trafficking among more than 70% of respondents, and increased confidence to act or report suspected cases among over 80% of respondents.

Campaign messaging displayed on partner airlines KLM and British Airways, and across public transport networks and travel hubs in Switzerland, reaching hundreds of thousands of people.

Distribution of awareness materials to accommodation and travel partners, extending reach across Europe - Booking.com distributed campaign information to 240,000 accommodation partners and hosted a training webinar to strengthen detection and reporting; Accor Hotels engaged staff and guests across all Swiss hotels; 311 multilingual posters across Switzerland reached more than 862,000 people.

Engagement of professional women footballers as campaign ambassadors to amplify safeguarding messages - Seraina Piubel (Switzerland), Melvine Malard (France), Jill Roord (Netherlands), Jess Fishlock (Wales), Mary Earps (England), Leila Ouahabi (Spain), and Celin Bizet Ildhusøy (Norway).

Consultancy and Training

Throughout 2024 and 2025, It’s a Penalty continued to expand its consultancy and training services focused on modern slavery, human trafficking and safeguarding. These services

support organisations to strengthen governance, improve compliance with modern slavery legislation, and build internal capacity to identify, prevent and respond to exploitation risks.

CommonProtect: Advocacy and Systems Change

CommonProtect is It’s a Penalty’s advocacy programme focused on strengthening legal frameworks and systems to protect children from sexual exploitation and abuse (CSEA) across the Commonwealth.

CHOGM-related advocacy and Commonwealth engagement (2024 – 2025)

During the reporting period, CommonProtect prioritised advocacy linked to Commonwealth processes and outcomes, including engagement around the Commonwealth Heads of Government Meeting (CHOGM) held in October 2025 in Samoa and follow-up actions.

Activities included:

Continued collaboration with Commonwealth civil society networks and partners to advance child protection priorities and promote implementation of Commonwealth commitments.

Organisation of side events at CHOGM, focusing on child protection, exploitation, modern slavery and emerging risks.

Engagement with Commonwealth institutions, legal experts and civil society organisations to support coordinated approaches to child safeguarding and exploitation prevention.

Strategic focus on birth registration (2025)

In 2025, CommonProtect strengthened its strategic focus on birth registration as a foundational child protection measure. Advocacy work highlighted the role of universal birth registration in safeguarding children’s rights, preventing exploitation, and sup porting access to justice and services across the Commonwealth.

Page 4

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

Report of the Trustees (cont ’d )

This work included participation in international policy discussions and publication of thought leadership linking birth registration to long-term protection from abuse and exploitation.

Online child sexual exploitation and abuse (OCSEA)

In November 2025, CommonProtect marked the International Day for the Prevention and Healing from Child Sexual Exploitation, Abuse and Violence by highlighting the growing risks of online child sexual exploitation and abuse. Advocacy activities focused on raising awareness of emerging online harms, including grooming and technology-facilitated abuse, and calling for strengthened legal frameworks, cross-border cooperation and child-centred digital safety measures across the Commonwealth. The strategic focus on this rapidly developing issue across the Commonwealth will continue as a key part of CommonProtect’s advocacy in the upcoming year.

Organisational Development and Continued Impact

Across the period September 2024 to December 2025, It’s a Penalty continued to strengthen partnerships with international organisations, governments, private sector partners and civil society to extend the reach and effectiveness of its campaigns, advocacy and training activities for the Super Bowl San Francisco 2026 campaign, the World Cup Campaign in Mexico, Canada and US and the Commonwealth Games Glasgow 2026.

Through a combination of global awareness campaigns, targeted advocacy, consultancy services and strategic partnerships, the organisation has continued to contribute to increased public awareness, improved safeguarding practice and strengthened systems to prevent abuse, exploitation and human trafficking worldwide.

Financial Review

Income totalled £1,117,775 (2024: £536,650) and expenditure was £943,834 (2024: £548,575). We are extremely grateful and thankful for both the donations received and the kind support of our volunteers. There was a surplus at the period end of £195,402 (2024: Surplus of £21,461).

The closing cash position at the period end was £78,734, with net cash generated from operations of £71,961. There were no restricted reserves at the period end and the Board is intent in maintaining a healthy level of unrestricted reserves.

Plans for the future

Campaigns

Partnering with the sports industry, travel & tourism and hospitality industry, NGO’s and law enforcement to raise awareness and educate about human trafficking, exploitation and abuse in order

to prevent it, It’s a Penalty will be running campaigns during the following major sporting events:

– Advocacy CommonProtect (legal reform for child protection)

Following our successful events at CHOGM in Samoa in October 2024, the team will be taking steps in partnership to improve on child protection throughout the Commonwealth.

Training

It’s a Penalty will be developing our bespoke training courses for educating about human trafficking and exploitation for our partners in the travel & tourism and hospitality industry as well as our training for students at Universities.

Page 5

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

Report of the Trustees (cont ’d )

Trustees’ R esponsibilities Statement

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 of the Charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. 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.

Reserves policy

As at 31 December 2025, the CIO had no restricted reserves and unrestricted general reserves were £195,402, this is equivalent to three months of salary costs. The Board reviews the cash flow and budgeted spend plan on a monthly basis and was in a positive reserves position as at 31[st] January 2026.

The Report of the Trustees was approved by written procedure amongst Trustees on 18 May 2026 and signed on their behalf by:

……………..

C Williamson

Page 6

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

INDEPENDENT EXAMINER’S REPORT

I report to the Trustees on my examination of the accounts of It’s a Penalty (the CIO) for the period ended 31 December 2025.

Responsibilities and basis of report

As the Charity Trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

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 can 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:

  1. accounting records were not kept in respect of the CIO as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Steve Robinson FCA Chartered Accountant The Pinnacle 170 Midsummer Boulevard Milton Keynes

MK9 1BP Date: 19 May 2026

Page 7

IT’S A PENALTY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 DECEMBER 2025

Notes
Income
Income from
Generated funds
Donations and
grants
2
Total Income
Expenditure
Charitable
Activities
Expenditure on
charitable
activities
3
Cost of Raising
funds
Expenditure on
raising funds
Other
Expenditure
Support costs
4
Total
expenditure
Net movement in
funds
Balance at 1
October 2024
Balance at 31
December 2025		 Unrestricted
General
£
1,117,775
1,117,775
934,927
-
8,907
943,834
173,941
21,461
195,402		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-		 Total
15 months
ended
December
2025
£
1,117,775
1,117,775
934,927
-
8,907
943,834
173,941
21,461
195,402		 Total
12 months
ended
September
2024
£
536,650
536,650
533,780
-
14,795
548,575
(11,925)
33,386
21,461

All of the above results are derived from continuing activities. All gains and losses recognised in the period are included above.

The split of comparative funds is shown in note 12.

The notes on pages 11 to 16 form part of these financial statements.

Page 8

IT’S A PENALTY

BALANCE SHEET AS AT PERIOD END

Notes
Fixed Assets
Intangible assets
Current Assets
Debtors
6
Cash at bank and in hand
Creditors: amounts falling due
within one year
7
Net current assets /
(liabilities)
Net assets
Represented by:
8/9
Unrestricted funds
Restricted funds
Total Charity Funds		 31 December
2025
£
£
-
130,442
78,734
208,869
(13,774)
195,402
195,402
195,402
-
195,402		 30 September
2024
£
£
-
18,691
6,774
25,465
(4,004)
21,461
21,461
21,461
-
21,461		 30 September
2024
£
£
-
18,691
6,774
25,465
(4,004)
21,461
21,461
21,461
-
21,461
208,869
(13,774)		 25,465
(4,004)
21,461
21,461
-
21,461

The financial statements were approved by the Trustees on 18 May 2026 and were signed on their behalf by:

…………….. Trustee M Malik

The notes on pages 11 to 16 form part of these financial statements.

Page 9

IT’S A PENALTY

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED

Cash flows from operating activities:
Net cash generated/(used in) from operations
11
Net cash flows
Increase/(decrease) in cash and cash equivalents in
the year
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 15 months
ended
December
2025
£
71,960
71,960
71,960
6,774
78,734		 12 months
ended
September
2024
£
(34,805)
(34,805)
(34,805)
41,579
6,774

Page 10

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

NOTES TO THE FINANCIAL STATEMENTS

1. Accounting policies

Basis of Preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)).

It's a Penalty meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements cover the period from October 2024 to December 2025 (a period of 15 months). The comparative information covers the period from October 2023 to September 2024 (a period of 12 months). As a result, the comparative amounts are not directly comparable with the amounts reported for the current period

Income

Donations and Grants

Income from donations and grants is included in incoming resources when received. Income is then deferred when a condition which is placed upon the C harity’s entitlement to it has not yet been completed.

Donations receivable for the general purposes of the Charity are credited to general unrestricted funds. Donations for purposes restricted by the wishes of the donor are taken to restricted funds.

Intangible income in the form of valuable good or services donated to the Charity at some actual expense to the donor are included in the Statement of Financial Activities when the benefit is quantifiable and measurable.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

Intangible Assets and Amortisation

Intangible assets are stated at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Website Development 3 years straight line

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Page 11

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

NOTES TO THE FINANCIAL STATEMENTS (cont’d)

Restricted funds comprise funds donated for specific purposes. The aim and use of each fund is set out in the notes.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The CIO only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1. Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the mitigating actions that can be taken to control costs and the ability of the Charity to borrow or fundraise for additional funds, 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.

2. Donations and grants

Institutional income
Other income		 15 months ended
December
2025
£
1,117,775
-
1,117,775		 12 months ended
September
2024
£
314,510
222,140
536,650

Total Income from donations and grants was £1,117,775 (2024: £536,650) of which £nil (2024: £38,258) was restricted.

Other income includes £nil (2024: £58,727) relating to donations in kind principally provided for professional services contributing to advancing our advocacy agenda.

Included within institutional income is an amount of £499,536 (2024: £38,258) relating to donations in kind received by the Charity.

Page 12

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

NOTES TO THE FINANCIAL STATEMENTS (cont’d)

3. Expenditure on charitable activities

It’s a Penalty Campaign
Salaries & NI
Consultants
Design & Artwork
Website
Promotion
Social Media Development
Filming & Production
Travel & Accommodation
Legal Expenses
Charitable Donations
Subscriptions
Telephone & Internet
Bank Fees
Printing & Stationery
Currency gain/(loss)
Gifts
Interest Paid
Postage, Freight & Courier
Staff Training
Total		 Unrestricted
£
148,684
205,438
-
7,033
213,293
-
16,612
322,509
-
270
1,415
735
1,151
3,388
11,071
1,015
200
13
2,100
934,927		 Restricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 15 months
ended
December
2025
£
148,684
205,438
-
7,033
213,293
-
16,612
322,509
-
270
1,415
735
1,151
3,388
11,071
1,015
200
13
2,100
934,927		 12 months
ended
September
2024
£
121,121
125,289
24,677
2,541
126,990
10,413
33,239
18,450
58,727
9,239
355
499
567
917
756
567
917
-
756
533,780

Expenditure includes £nil (2024: £58,727) relating to donations in kind for professional services contributing to advancing our advocacy agenda.

4. Other Expenditure

Support Costs
Accountancy
Travel & Refreshments
Other Costs
Independent Examiner’s Fee		 Unrestricted
£
4,500
-
740
3,667
8,907		 Restricted
£
-
-
-
-
-		 15 months
ended
December
2025
£
4,500
-
740
3,667
8,907		 12 months
ended
September
2024
£
11,280
-
457
3,058
14,795

Page 13

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

NOTES TO THE FINANCIAL STATEMENTS (cont’d)

5. Staff numbers and expenses

There was no Trustees’ remuneration during the financial period and trustee expenditure of £nil was reimbursed (2024: £nil).

The average number of persons employed by the CIO during the year was:

Average staff headcount
Staff costs
Wages and salaries
Social security costs
Pension
One employee’s emoluments exceeded £60,000
as disclosed below:
Salary
Social security costs
Pension
Debtors
Trade Debtors
Other Debtors
Prepayments
Total		 15 months
ended
December
2025
2
£
136,578
6,955
5,151
148,684
£
93,750
12,422
3,750
109,922
15 months
ended
December
2025
£
126,187
3,621
634
130,442		 12 months
ended
September
2024
2
£
109,407
7,588
4,126
121,121
£
77,500
5,746
3,100
86,346
12 months
ended
September
2024
£
13,135
-
5,556
18,691

6. Debtors

7. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade Creditors
Taxation and Social Security
Accruals
Total		 15 months
ended
December 2025
£
-
4,570
9,204
13,774		 12 months
ended
September 2024
£
3,058
646
300
4,004

Page 14

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

NOTES TO THE FINANCIAL STATEMENTS (cont’d)

8. Analysis of net assets between funds

Unrestricted
Funds
£
Fund balances at
31 December
2025 are
represented by:
Current assets
209,176
Creditors due
within one year
(13,774)
195,402
9. Analysis of charitable funds
Brought forward at 30 September 2024
Income
Expenditure
Transfers
Balance at 31 December 2025		 Restricted
Funds
£
-
-
-
Unrestricted
Funds
£
21,461
1,117,775
(943,834)
-		 Total 15
months ended
December
2025
£
209,176
(13,774)
195,402
Restricted
Funds
£
-
-
-
-
-		 Total 12
months ended
September
2024
£
25,465
(4,004)
21,461
Total Funds
£
21,461
1,117,775
(943,834)
-
195,402
195,402

10. Related parties

It’s a Penalty received £ 19,180 (2024 - £21,600) in donations from Sysdoc Ltd in which K Corich is a director.

11. Cash flows from operating activities

Net income for the year
Adjustments for:
(Increase)/ decrease in debtors
Increase/(decrease) in creditors
Net cash (used in)/provided by
operating activities		 15 months ended
December 2025
£
173,941
(111,751)
9,770
71,960		 12 months ended
September 2024
£
(11,925)
(18,691)
(4,189)
(34,805)

Page 15

IT’S A PENALTY FOR THE PERIOD ENDED 31 DECEMBER 2025

NOTES TO THE FINANCIAL STATEMENTS (cont’d)

12. Comparative Statement of Financial Activities

Income
Income from Generated funds
Donations and grants
Total Income
Expenditure
Charitable Activities
Expenditure on charitable activities
Other Expenditure
Support costs
Total expenditure
Net movement in funds
Balance at 1 October 2023
Balance at 30 September 2024		 Unrestricted
Funds
£
498,392
498,392
495,522
14,795
510,317
(11,925)
33,386
21,461		 Restricted
Funds
£
38,258
38,258
38,258
-
38,258
-
-
-		 Total 12 months
ended
September 2024
£
536,650
536,650
533,780
14,795
548,575
173,941
33,386
21,461

Page 16