## 10 years **Dedicated to the Futures 4 Students, Schools and Scaleups**
**F4S Group Annual Report and Accounts 2024-2025 http://www.f4s.org.uk**
**Trustees Annual Report 2024/25**
**CONTENTS**
## **Contents**
**Welcome 1**
**Futures 4 small businesses 5**
**Highlights 2**
**Partners 6**
**Futures 4 Schools 3**
**Governance 7**
**Futures 4 Students 4**
**Annual accounts & 8 financial statements**
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**Trustees Annual Report 2024/25**
**WELCOME**
## **A welcome from our Chair**
This year marks the tenth anniversary of F4S as a charity. Over the past decade, we have fuelled the futures of hundreds of thousands students, schools and small businesses.
However, the heart of our story lies not in the big numbers, but in the personal connections that spark ambition and growth every day. This is where our true impact is felt: when a young girl first recognises herself as a future scientist after meeting a relatable role model; when a young man begins to imagine becoming the next great entrepreneur after a work experience placement at a rapidly growing company; or when a small business owner overcomes their fear of AI and unlocks precious time through a conversation with a mentor.
As the rapid acceleration of AI and global economic shifts transform the world of work right before our eyes, F4S’s work is more vital than ever. Young people need confidence, resilience, and curiosity to thrive. Today’s small businesses must adapt and evolve fast to stay competitive. Future jobs will need skills that don’t even exist yet.
Looking ahead, I have shared with the Board my wish to retire as Chair once the Executive Director we are now recruiting has been appointed and is well settled into post. At that point, the Nominations Committee will commence the search for my successor, ensuring a smooth and orderly transition in leadership. This staged approach will provide stability while opening the way for fresh energy as F4S embarks on its second decade of impact.
I would like to acknowledge our trustees, advisors, mentors, colleagues, partners, and volunteers, whose commitment and guidance have shaped F4S into the organisation it is today. Your contributions — whether in the classroom, the boardroom, or behind the scenes — have been central to our impact and success. Thank you.
I look forward to working together to build a more confident, connected, and inclusive workforce that’s ready to embrace the future.
**Sherry Coutu CBE Chair**
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**Trustees Annual Report 2024/25**
**HIGHLIGHTS**
## **2024/25 Highlights**
**Powering up our platform**
**Focus on inclusivity**
## **Lifting AI skills for all**
Our technology enables us to deliver humancentred support at scale.
This year, made it even more fit for the future easier to use, with flexible scheduling, an improved matching engine, and more.
Users can now declare disabilities and long-term health conditions, helping us match them to people with lived experience.
We’ve also deepened outreach to marginalised schools & reached underrepresented entrepreneurs through new partnerships.
New peer learning programmes, in-person bootcamps, and skilled mentors helped demystify AI for thousands of small businesses.
Our CPD sessions and virtual assemblies inspired educators and students to embrace it.
## **Place-Based Tech Pathways**
Over the past year, our place-based model began to demonstrate what’s possible:
In cities like Manchester, Birmingham, and Leeds, more than 30,000 students connected with local leaders in tech, AI and the green economy through F4S encounters.
We piloted new Sector Spotlights on digital and sustainability careers— anchored in local context and aligned with regional economic growth.
Our SEN and neurodiversity assemblies brought visibility, inspiration and encouragement to students often left out of mainstream careers messaging.
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**Trustees Annual Report 2024/25**
**HIGHLIGHTS**
**----- Start of picture text -----**
||||
|---|---|---|
|Our Impact|
|2024-2025|All time|
|Volunteers, mentors & role models onboarded|1,190|20,030|
|Young people supported in classrooms|39,584|690,980|
|Hours of support delivered for small businesses|48,457|180,000|
|Net Promoter Score|73|74|
**----- End of picture text -----**
**My favourite part about volunteering is knowing that small changes today can have a big impact on people’s futures.** F4S volunteer
- **Helped me view my business from an entirely new perspective - one I never would have discovered on my own!**
Digital Boost mentee
**Source: Platform Data**
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**Trustees Annual Report 2024/25**
**HIGHLIGHTS**
## **Tailored Support**
## **Our vision**
## **Our mission**
A world where a person's potential is never limited by their background and where everyone - whether just starting to think about their career choices or building their own business - has the inspiration, skills, and networks needed to succeed in tomorrow’s economy.
To create a future-ready workforce and drive inclusive economic growth, by igniting potential in the next generation and the superpowers of the innovators of today.
## **How we do it**
## **Human connection**
## **Enabled by technology**
Thousands of skilled volunteers share their real-world experience & passion with those who need it, as role models, mentors, and trainers.
Our easy-to-use platform matches people swiftly and at scale, ensuring they get the support they need, when they need it.
## **Powered by partnership**
## **Inclusion at the heart**
We collaborate across the private and public sectors to drive lasting change.
We’re free and open to all, with outreach focused on those from underrepresented or disadvantaged backgrounds.
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**HIGHLIGHTS**
## **Students, Schools & Scaleups**
## **1:1 MENTORING**
## **PEER LEARNING PROGRAMMES**
Highly flexible and personalised for each user’s needs - unlimited.
3 to 6-week programmes where users work together on their real challenges.
- **This kind of access to industry leaders wouldn’t have been possible if I had just reached out directly.**
- **100%+ ROI. Each session is jam packed with tips and ideas to help you build a better business, and the opportunity to meet like-minded peers.**
## **VIRTUAL MASTERCLASSES & HANDS-ON LABS**
## **IN-PERSON EVENTS & NETWORKING**
Interactive learning sessions every week to prompt real action. Available on reply on demand.
Helping build connections and accountability.
- **I signed up for a paid programme but honestly I am regretting it because Digital Boost is so much more valuable.**
- **This is the best event I’ve been to, and by far the one that made me motivated to change. Very motivating and supportive.**
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**HIGHLIGHTS**
## **Personalised for**
## **teachers, mentees & volunteers**
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**ABOUT US**
## **Our AI in Action**
## **How it works**
## **Benefits for our partners**
**Smart Matching: Connections to mentors & role models based on skills, preferences, availability and more.**
**Multiplies staff capacity: Our turnkey programmes remove repetitive tasks and admin burden.**
**Effortless scheduling: Automates setting up meetings, reminders and follow-ups.**
**Real-time feedback: Collects and analyses outcomes after every session.**
**Impact dashboards: Instantly tracks engagement and insights by geography and demographics**
**Improves mentor experience: Partner’s employees spend time mentoring and building their skills, not trying to connect.**
**Boosts scalability: Easy to add more mentors, schools, or SMEs, customise or white label.**
**Future-proofs the programme: Continuous learning improves matching quality and reporting.**
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**HIGHLIGHTS**
## **More vital than ever**
**With national investment in tech, AI, and innovation accelerating, a key challenge is ensuring everyone can access these opportunities, regardless of where they live or their background.**
The Government’s Small Business Plan (July 2025) identifies enterprise education, SME skills and place-based growth as priorities. These are areas where F4S has a wellestablished track record. Through our programmes, young people and SMEs connect with role models, develop relevant skills, and explore pathways into the future.
## **Why it matters**
This is about real places and progress. Government calls for more enterprise education, better routes for the underrepresented, SME digital adoption, and local delivery with mentoring. F4S already does this.
## **Scaling what works**
Our goal is that anyone - from Carlisle to Great Yarmouth to Newquay - who need support or is curious about AI, cyber, green energy, entrepreneurship, or advanced manufacturing can meet people doing those jobs, locally or virtually, this term, not “one day”.
## **Now we scale, place by place.**
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**HIGHLIGHTS**
## **Powered by volunteers**
**Technology is only half our story. The real power is in the people it helps connect. Thousands of skilled volunteers - from the worlds of entrepreneurship, business, academia and more - generously share their time, knowledge, and passion to uplift others. Our platform just makes it easy and flexible.**
**Freya**
**----- Start of picture text -----**
LSE Student
& F4S Volunteer
**----- End of picture text -----**
Freya is deeply passionate about data science and AI, and volunteers with F4S to share that passion and inspire young people. She volunteers alongside studying for a masters degree in Data Science at the London School of Economics and has a background working in management consulting.
She’s making a real difference - whether by prompting a young person to pursue a technical career, alleviating their fears about choosing a maths-heavy course, or showing young women that data science is not just maledominated field for introverts.
Along the way, she’s building her own confidence and skills. Thank you Freya!
**Looking back, I know I would have greatly benefited from others sharing insights about their careers. I was unsure about what to study and had no clear vision of what career path I wanted to take.** -Freya, F4S volunteer
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**ABOUT US**
## **Who we support**
**We take a holistic approach to building an inclusive economy, focusing on three interconnected groups that together, create a powerful, self-sustaining cycle of growth.**
## **Educators in Schools**
By empowering educators and equipping them with real-world business expertise, we create a ripple effect that prepares a new generation of young people to lead for the future.
## **Students**
Enabling students to develop the superpowers they need for tomorrow’s careers — while helping scaleups find and welcome young people with the right skills to strengthen their teams.
## **Small businesses**
By supporting anyone who wants to start and grow a business, we create stronger, more resilient enterprises. These, in turn, become the engines of local economies, offering new pathways to employment, strengthening communities, and enabling the cycle of a more inclusive, sustainable economic landscape.
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**ABOUT US**
## **Voices of our community**
It was really nice because the speaker was closer in age to our pupils. They had recently gone through the same school experience, which made it much more relatable.
**Juliet Doyle, National Secondary Curriculum Lead - Voice of Teacher**
I loved the whole experience; far from being unnoticed interns making tea, we were told we were a crack team of smart women who were going to bring something new and exciting to the team and to the customers.
**Talent Story, Cerise Abel-Thompson - Voice of Young Person**
Digital Boost understands that as a business owner, you don’t have all the answers. Every year brings new challenges, and you need support. Mentoring has increased my confidence and it’s been a game-changer for our business.
**Keri Ackling, Snow Windows - Voice of Small Business**
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**F4S THEORY OF CHANGE**
## **Our Mission**
We ensure every young person - regardless of background or postcode - has the networks, role models, and opportunities to thrive in tomorrow’s workforce.
## **Our Theory of Change**
We bring together committed volunteers, educators, digital tools, business partners, dedicated funding, and expert staff to drive impact. By connecting schools to industry leaders and volunteers, we empower teachers with practical support, resources, and intuitive digital platforms to embed career education in every classroom. Simultaneously, our direct work experiences, placements, and enrichment opportunities give students practical skills, broader horizons, and vital networks for the future.
## **From Inputs to Impact**
Inputs: Volunteers, educators, technology, business partners, and funding.
- Activities: Role-model encounters, teacher and curriculum support, partnerships, and a portfolio of hands-on career experiences.
- Outputs: Thousands of students inspired, skills built, and educators equipped with practical tools for embedding careers learning.
## **Outcomes**
- Young People Facing Barriers: Raised aspirations, greater employability, and informed choices about education and career pathways.
- Educators: Improved capability to integrate careers and enterprise education throughout the curriculum.
- Employers: Stronger, more diverse early-talent pipelines connected with local schools and colleges. System-wide: Narrowed opportunity gaps, improved social mobility, and stronger alignment between education and future workforce needs.
## **Evaluation Loop – Measuring Success**
## **We embed robust monitoring and evaluation to evidence our impact and refine our practice**
- Young People: Track uplift in aspiration, confidence, knowledge, and post-programme progression. Educators: Evaluate CPD, rebooking rates, and curriculum integration of careers learning. Employers: Assess satisfaction, volunteer diversity, and uptake of student internships.
- System-level: Measure reach in underserved communities, conduct longitudinal tracking, and annually publish the State of Enterprise and Careers Encounters report.
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**F4S THEORY OF CHANGE**
## **Impact**
By investing in students and educators together, we create lasting change with a multiplier effect. Teachers become lifelong champions of career education, employers form sustained partnerships, and young people facing barriers gain the networks, skills, and confidence to thrive. The result: reduced inequalities, stronger local economies, and inclusive national growth.
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**THEORY OF CHANGE**
## **Our Mission**
We ensure every small business leader and their teams —regardless of background or postcode—have the networks, skills and talent to develop their business so that it is everything it can be.
## **Inputs**
- Technology platform powered by AI.
- Skills, expertise, and time from employee volunteers.
- Project management and programme design from Digital Boost.
- Existing networks of entrepreneurs, small businesses, and educators.
## **Activities**
- Matching mentors/volunteers with entrepreneurs, founders, and students.
- Running mentoring, coaching, and skills sessions (1:1 and group).
- Providing resources, events, and tailored learning journeys.
- Automating logistics (diary management, reminders, feedback).
## **Outputs**
- 22,000+ mentoring connections made
- 25,000+ hours of live support delivered
- Branded dashboards and impact reports for partners
- Employees upskilled in coaching, mentoring, and entrepreneurial thinking
## **Outcomes**
- Entrepreneurs and students gain networks, skills, and confidence to thrive
- 81% of entrepreneurs increase growth expectations
- 79% make tangible changes to their business practices
- Employees build leadership, innovation, and coaching capabilities
- Partner organisations strengthen culture, ESG impact, and thought leadership
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**SME THEORY OF CHANGE**
## **Impact**
By investing in entrepreneurs and employees together, we create lasting change with a multiplier effect. Small business founders gain the skills, networks, and confidence to grow; employees build leadership, coaching, and entrepreneurial mindsets; and partner organisations embed cultures of inclusion and innovation. The result: stronger small businesses, more resilient communities, and inclusive economic growth across the UK.
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**FUTURES 4 SCHOOLS**
## **Empowering Educators**
**F4S bridges the gap between the classroom and the world of work, helping young people see what’s possible. We offer a range of inspirational programmes to help educators align with and deliver on the Gatsby Benchmarks.**
## **Career acceleration on demand**
Most educators accept our recommendations of which volunteers to invite to meet their students (virtually or in person) from their personalised dashboard. Our service regulates sector, gender and type of encounter and removes 90% of the time historically needed to get speakers into their classes at zero cost..
## **Targeting schools that need it most**
Through our partnerships, dedicated staff deepen engagement in areas of socio-economic diversity, expanding impact and inclusive growth
## **Professional development**
We equip teachers and careers leads with up-to-date skills to help them better integrate careers education throughout the curriculum, through webinars, a resource centre, and regular interactive workshops.
## **Great pace and content was engaging for the context and year group. We can’t thank you enough.**
Stacy Jones, Callerton Academy
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**FUTURES 4 SCHOOLS**
## **Our priorities for 2025/26**
## **Place-Based Growth Partnerships**
## **Diverse Tech Talent Pathways**
- Embed F4S in local economic plans Co-design tech talent pipelines. aligned to labour-market needs, Local Skills Improvement Plans, and growth strategies.
- Scale targeted programmes to tackle under-representation.
- Expand Sector Spotlights in opportunity cold spots with a focus on gender, race and socio-economic inclusion.
## **Enterprise for All**
Make enterprise education core, especially where young people lack exposure to entrepreneurship or leadership. Prioritise areas with little employer engagement and prammes to tackle under-representation.
## **We’re deepening our impact by:**
Partnering with Multi-Academy Trusts and Combined Authorities to deliver inclusive growth through low-cost, highimpact, interactive employer encounters.
Expanding employer encounters through the Gatsby & Skillsbuilder Frameworks, connecting students with role models from our volunteer base drawn from growing companies and thriving sectors.
Embedding inclusive careers education into schools serving communities facing entrenched barriers to opportunity.
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**FUTURES 4 SCHOOLS**
## **Focusing on what matters most**
**Each month we run a social media campaign to encourage teachers to focus on the roles most in demand by growing companies operating on the Government’s industrial sectors.**
Where possible, our school engagement coordinators provide self-serve assistance where needed in schools of socio-economic deprivation.
**Monthly Sector Spotlights**
**----- Start of picture text -----**
Aerospace & AI, Machine Learning Creative
Fintech
Engineering & Robotics Industries
Life
Cybersecurity Manufacturing Sustainability
Sciences
**----- End of picture text -----**
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**FUTURES 4 SCHOOLS**
## **Putting educators first**
**Joseph has complete control over how he brings industry expertise into his classroom. Using his personalised dashboard, he can choose from three flexible options whenever he needs them:**
- Live volunteers - booking sessions that fit his timetable. Recoded masterclasses - accessing our resource centre .
- library
- Recommendations - selecting from volunteers we suggest.
**This kind of access to industry leaders wouldn’t have been possible if I had just reached out to companies directly.**
**Being able to book sessions around our timetable has been really useful.**
Joseph P., Maths Teacher
Sometimes Joseph books a live session with a recommended volunteer. Other times, he pulls up a recording from our resource centre to illustrate a point to his students. The choice is always his.
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**FUTURES 4 SCHOOLS**
## **The Ignite Programme**
**Our Ignite Programme flips the classroom to enable teachers and parents to use homework assignments to shine a light on our nation’s dynamic entrepreneurs.**
Flexible, weekly homework modules include lesson plans, video interviews, CPD resources, and student challenges to inspire students to understand the mindset of the engines of our economic growth.
## **Example Speakers**
**Amee Ritchie**
26–year-old founder of S’wheat, a plant-based water bottle company
**Dr. Yola Jones**
Co-founder of Seluna, an AI company that’s tackling pediatric sleep disorders
**Lizzie Smith**
Disabled entrepreneur and founder of Gradatium, a book series for children facing medical conditions
**Federico Charosky**
Founder of one of the world’s fastest-growing cybersecurity businesses
**Darina Garland**
Co-founder of Ooni Pizza Ovens
**Mark Scott**
Co-founder of pet food sensation Bella & Duke
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## **FUTURES 4 SCHOOLS The M4G Programme**
## **By providing mentorship, breaking stereotypes, and building self-confidence, we make sure every girl knows: Maths is for her.**
Maths4Girls is a focused programme to increase 11-14-year-old girls’ confidence and engagement in mathematics.
Female role models share how they use maths in their everyday professional lives, showing how it can open up opportunities and choices in careers and life.
**Source: Impact Study 2023**
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**FUTURES 4 STUDENTS**
**For individuals at university like Noshin seeking opportunities to understand and acquire skills needed by their future employers**
As a woman of colour in tech I've felt like that aren't many opportunities offered to me, but finding Superpower has changed both my career and my aims in life. I’ve been able to experience and work on a range of projects and learn different skills, and those projects led to being offered permanent roles. I was able to meet and work with so many amazing people, and in the process I’ve been able to build my CV, experience and career. Supporting women in tech is key and Superpower did that for me, they helped me find my dream job.
## **Noshin Begum**
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**FUTURES 4 STUDENTS**
**For team leads in scaleups, like Katie, seeking university students with the right skills to deliver their projects**
We recently hosted Michelangelo for two weeks, working with our B2B team on a Competitor Analysis project. This was a hugely valuable piece of work as it is something we have needed to do for a long while but never had the time to. The Workfinder templates and Project Briefs also made it very easy and simple to set up. We have been so impressed with Michelangelo we have offered him a summer internship to continue to work with the team!
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**FUTURES 4 SMALL BUSINESSES**
**Our subsidiary Digital Boost is the UK's leading free mentoring & peer learning platform for small businesses. We’re democratising access to the skills, networks, and confidence small businesses need, so they can not only survive but thrive in the future.**
## **25,000**
**entrepreneurs supported to date**
Digital Boost has created such a powerful community of support. Every interaction feels like being part of a larger movement that believes in collaboration and giving back.
## **T. Brooks, Small Business Owner**
## **180,000**
**hours of live support**
**74%**
**Net Promoter Score**
**Source: Platform Data**
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**FUTURES 4 SMALL BUSINESSES**
## **Mentorship Matters**
**When Stefania first set up her graphic design business, she felt overwhelmed by the challenge of going it alone. She joined Digital Boost and was matched with Martina, a digital marketing expert and fellow female founder. Their connection was a game-changer.**
What began as a single session turned into a longterm mentoring relationship that’s still going today.
Martina challenged Stefania to think differently and break down her big goals into manageable steps. She ends each session with an action plan.
With Martina’s practical advice, Stefania has not only gained confidence but also seen tangible results in her business, including the ability to confidently charge more for her services.
Inspired by her experience, Stefania decided to give back. She is now a Digital Boost volunteer, supporting other entrepreneurs just starting out.
**I’d always come out of those sessions knowing exactly what to do next. It was personalised. It was real-time. It was actionable. I could get an answer that helped right then.**
Stefania P., Design Agency Owner
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**FUTURES 4 SMALL BUSINESSES**
## **Accelerating digital skills**
**The UK’s small businesses lag behind international peers in digital adoption. Without action, they’ll be locked out of the full power of AI, digital marketing, and productivity-enhancing tools. We support them every step of the way - to overcome fears, get hands-on practice, and make real change to how they work.**
## **AI Essentials**
## **AI Roadshow**
Three-week interactive programme powered by the Google.org AI Opportunity Fund. Builds confidence using AI, with self-guided learning, hands-on sessions to practice, and peer support.
Bringing AI training, support & practice to communities across the UK. Businesses learn together with a community of peers, and mentors. Supported by BT.
## **Digital Labs**
## **Access to Experts**
Regular practical sessions online, where businesses address specific business challenges and practice using digital tools together. Supported by NatWest.
Hundreds of mentors in AI, software and website development, SEO, and much more provide free & unlimited 1:1 guidance on business’s specific challenges.
## **74%**
**of all DB users report improved digital capabilities**
**Source: Impact Study by 60 Decibels**
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**BOOSTING SMALL BUSINESSES**
## **Learning that liberates**
**Cheryl-Lya runs a project management and consultancy company to help others with their strategic planning. Despite her rich business experience, she was struggling to keep up with the dynamically changing world of tech.**
When Cheryl-Lya decided to join the Digital Boost AI Essentials programme supported by the Google.org AI Opportunity Fund, she wasn’t sure what to expect. Happily, the programme went way beyond her expectations.
Thanks to her new skills and confidence, Cheryl-Lya’s operations and marketing have improved. She’s learned fresh new ways of redesigning stale content and boosted her creativity - even her clients are seeing the difference!
**It has taken the ‘fear’ away and helped save so much time. So much has changed for me and my business. I’m feeling like I’m ahead of the game and it feels great.**
Cheryl-Lya Broadfoot, Soul’s Compass
**“Some days I feel like technology is racing beyond my abilities and I’m being left behind, especially with AI.**
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**BOOSTING SMALL BUSINESSES**
## **No one scales alone**
**Our work goes way beyond digital know-how. We connect aspiring entrepreneurs with the real-world skills they need to build and scale their businesses - and the confidence, networks, and accountability to keep going.**
The most commonly requested areas of support are Business Strategy, Marketing Strategy, AI, SEO, Social Media, Prioritisation, and Finance.
**I am so happy to have found Digital Boost! It’s invaluable to have this kind of support - having run my business single-handedly for so many years and feeling that I couldn’t get past a certain point with it.**
**81% of users increased their growth expectations**
**79% made tangible changes to how they work**
**67% increased productivity**
**Source: Impact Study by 60 Decibels**
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**FUTURES 4 SMALL BUSINESSES**
## **Including diverse founders**
**We're on a mission to ensure that every business owner has a fighting chance - no matter their background. Through partnerships and programmes, we're providing critical support to underrepresented entrepreneurs and helping them thrive.**
## **Disabled Programme**
## **BEGIN**
A specialised programme in partnership with the Lilac Review, Small Business Britain and Lloyds Banking Group, offering tailored mentoring and support from those with lived experience.
An actionable 6-week programme for aspiring female entrepreneurs in partnership with Buy Women Built and NatWest. Participants learn from successful womenbuilt businesses, and with women on the same journey. They actively build their own plan through the six weeks, and beyond, with support.
Highly commended British Diversity Awards 2025
## **Visa Pioneer 20 Programme**
## **Female Founder Connect**
Providing mentoring and support to female refugees as they establish their careers and businesses in the UK.
Bringing 200+ women together to create meaningful relationships, celebrate success, and help each other.
**64%**
**of those supported identity as female**
**46%**
**identity as ethnic minority**
**74%**
**outside London**
**Source: Impact Study by 60 Decibels**
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**PARTNERS**
## **The power of partnership**
**We are incredibly grateful to the organisations who enable our work.**
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**PARTNERS**
## **How we work with partners**
## **Skills-based employee volunteering**
## **Social Value programmes**
## **Sponsorship**
Building their skills and confidence while giving back. 1:1 or in team building days; highly flexible
Bespoke initiatives aligned to a partners’ objectives
Building brand reputation and trust
## **Data & insights**
## **Customisable platform**
Real-time measurement of Using our white-label impact and progress against platform to power their goals; insights into critical programmes or support audiences priority groups
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**PARTNERS**
## **Delivering against local, national & global priorities**
## **Our work closely delivers against the priorities of Skills England, DfE, the Industrial Strategy and the Small Business Plan.**
- Fueling innovation
- Closing skills gaps for the future
- Addressing regional disparities in opportunity
- Driving entrepreneurship and digital adoption
- Enabling people with disabilities and long-term health conditions
- Supporting women and minorities into growth sectors
## **How we do it**
## Always-on digital access
We ensure that schools and businesses everywhere - not just in major cities - can connect. This expands access to the skills and jobs of the future, including high-growth roles that can be delivered remotely and are not always reflected in local labour-market data.
## Inclusive by design
Our support is open to anyone, with targeted content for girls & women, and those who are from lower-income backgrounds or neurodivergent.
## Reducing fragmentation
Support is available in one place - with personalised recommendations for the right support in the right moment.
## Local delivery
Place-based rollouts of proven formats (assemblies, role-model encounters, mentoring, peer learnings) aligned to labour-market needs.
## Partner-led delivery
Working alongside CEC, MATs, Combined Authorities, Growth Hubs, and the private sector.
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**PARTNERS**
## **Our programmes directly address or enable several SDGs:**
## **SDG4: Quality Education**
We provide access to high-quality educational resources and real-world experiences. These develop essential skills, broaden career perspectives, and prepare teachers, SME workforces and students for success.
## **SDG8: Decent Work and Economic Growth**
Slow adoption of technology and modern practices contributes to a loss of £100B in GDP. Facilitating the upskilling of teachers, students, charities and small businesses, contributes to the development of a skilled workforce leading to economic growth.
## **SDG9: Industry, Innovation and Infrastructure**
Our innovative platform provides sustainable and inclusive infrastructure for mentoring, peer connection, learning programmes, and assemblies - to help people learn and grow regardless of their gender, ethnicity, disability or socioeconomic background. This providing a better foundation for economic development and well-being for all.
## **SDG10: Reduced inequalities**
Our work directly bridges social and economic divides. By connecting under-represented entrepreneurs and schools in disadvantages communities with skilled volunteers, we nurture aspiration, lift skills, and build confidence. These connections actively shape a more inclusive and equitable workforce for the future.
## **SDG17: Partnerships for the Goals**
Collaboration is at the heart of our approach. We work closely with educators, corporate partners, local governments, local groups, and volunteers to achieve our impact. These partnerships strengthen the fabric of our communities, contributing to the long-term sustainability and vitality of local economies.
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**PARTNERS**
**For over a decade, F4S has been at the forefront of careers education innovation - designing AI-first services that transform how students connect with industry.**
The Gatsby Benchmarks set the gold standard, and their recent updates demand even more: meaningful, varied, and inclusive student-employer interactions. This is exactly what we deliver.
Working alongside the Careers & Enterprise Company and thousands of employers, we help schools sachieve all the benchmarks, with particular strength in:
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**PARTNERS**
**The Skills Builder Universal Framework is the world’s leading tool for measuring and building essential skills. It breaks the eight essential skills down into a sequence of steps, starting with absolute beginner through to mastery to enable:**
Within F4S it is used as follows:
- Educators to build employability skills in their students
- Companies to support career progression in their staff
- Individuals to develop their skills throughout their life
- To explain to students their next steps after a failed application or interview
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**LOOKING AHEAD**
## **Looking forward**
## **Amidst a landscape that is both challenging and exciting, we are more committed to our work than ever. For the year ahead, our priorities include:**
- Accelerate engagement with schools and small businesses to scale our impact further – investing in educators and enterprise networks so encounters multiply, -
- embed locally, and drive long term sustainable opportunity in communities.
- Play a leading role in supporting our priority groups through the AI transition – -
- ensuring equity of access, future ready skills, and opportunity for those most at risk of being left behind.
- Set the standard for skills-based volunteering experience – making it easy, meaningful, and rewarding for innovators to share their expertise and for our priority audiences to benefit from it.
- Further embed AI into our platform, processes and people – harnessing data and technology to personalise, scale, and deepen impact, so that our priority audiences can access inspiration and opportunity regardless of geography.
- Build additional long-term partnerships to ensure sustainability – with schools, anchor institutions, local authorities, employers, and funders so we can deliver -
- lasting change beyond short term projects.
## **Join us!**
**The need for skills, inspiration, and opportunity for all is greater than ever. As we celebrate 10 years of impact, we invite partners, volunteers, and supporters to join us to shape a fairer, more prosperous economy for the next decade and beyond.**
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**GOVERNANCE**
## **Corporate Governance**
## **Public Benefit**
The trustees confirm they have had regard to the Charity Commission’s guidance on public benefit when reviewing Founders4Schools’ aims and objectives and in planning current and future activities. During the year, our activities furthered our charitable purposes by advancing education and improving employability through:
• Connecting students and educators with volunteer role models and mentors from industry.
- Supporting small business owners with mentoring and peer learning that sustains local employment and skills.
• Providing free and inclusive programmes that raise aspirations, build essential skills and align with national careers frameworks;
## **Charity First: Free Services and Incidental Benefits**
Our services are provided free at the point of use for schools, educators and participants, with targeted outreach to those from under-represented or disadvantaged backgrounds.
## **Managing Risks, Delivering Benefits**
The trustees have considered potential risks or harms (for example, safeguarding and data protection) and have policies and controls in place to mitigate them.
Any private benefits to volunteers or corporate partners (such as skills development or brand enhancement) are incidental and necessary to achieving our charitable aims.
The trustees are satisfied that, in the year under review, the charity’s activities delivered demonstrable public benefit in line with its purposes.
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**GOVERNANCE**
## **Our Trustees**
## **Sherry Coutu CBE**
## **Trustee Since June 2015**
## **Chair.**
Sherry has a strong track record in leveraging tech for education, social mobility, and entrepreneurship. She is a non-executive director at Pearson Phoenix Group and Raspberry Pi, and a Trustee for National Numeracy. Sherry authored the Scaleup Report and is a serial entrepreneur, founding organisations like interactive investor and Digital Boost.
## **Divesh Chandiramani**
## **Trustee Since August 2023**
## **Nomination Committee (m)**
Divesh is a product manager, advisor, and angel investor specialising in growing businesses. Currently VP of Product at Nutmeg (JPMorgan), he has led new product development at Amazon, Koru Kids, and Beacon. Divesh started his career in financial services at Goldman Sachs and Mubadala and holds an MBA from London Business School.
## **Janet Coyle CBE**
## **Trustee Since June 2020**
**Remuneration Committee (Chair), Nomination Committee (m)**
With a special interest in serving parents, Janet leads London & Partners, supporting high-growth businesses globally with a focus on sustainable, inclusive economic growth. Recognised as a top woman in tech and for her leadership kindness, Janet’s experience includes UK diplomatic roles and managing London’s business hosting during the 2012 Olympics. She received a CBE in 2022 for her contributions to the economy.
## **Joanne Hannaford Trustee Since July 2016**
## **Special interest in technology**
With oversight of technology, Joanne is the Chief Information Officer for Deutsche Bank’s Corporate Bank, a role she assumed in 2024. Previously, she was Chief Technology and Operations Officer at Credit Suisse and held senior roles at Goldman Sachs over a 25-year tenure. Joanne is known for leading digital transformation efforts and is an advocate for diversity in STEM fields, serving on several advisory boards.
## **Alex Marsh Trustee Since November 2024**
## **Audit and Remuneration Committee (m)**
Alex Marsh is a chartered accountant with extensive experience in the technology and charity sectors. As the former UK CEO of Klarna and with 20 years in financial / professional services, he has led significant growth in fintech, banking and payments. Alex serves as a school governor in his hometown of Brighton and co-founded Charterpath in 2020, a charity that inspires finance professionals to volunteer their skills in the charity sector.
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**GOVERNANCE**
## **Our Trustees**
## **Julian Palmer**
## **Trustee Since June 2024**
## **With a special Interest in whistleblowing and data**
Julian is General Counsel at Ometria, and has over 25 years of experience as a trusted legal advisor and educator. He has taught law at top UK universities, contributed to key legal publications, and advised the Law Society. At Ometria, Julian leads the privacy team, ensuring the protection of hundreds of millions of retail customers' data.
## **Paul Rouse**
## **Trustee Since October 2024**
## **Audit Committee (m)**
Paul is the CFO/COO at Systematica Investments, one of Europe’s largest hedge funds and has over 20 years’ experience in the finance sector. In addition to the day job, he sits on the boards of several corporate and fund boards. Paul lives in the beautiful island of Jersey where he also sits on the board of a local family-supporting charity.
## **Claire Valoti Trustee Since September 2020**
## **Remuneration and Nomination Committee (m)**
With a special interest in neurodiversity, Claire is a Founding Partner at Haylo Ventures, a venture operator, and serves as an Independent Non-Executive Director at Genius Sports and Howbout. She was previously Vice President of Snap EMEA, leading international growth. She has also held leadership roles at Facebook, O2, and Telefonica.
## **Lauren von Stackelberg Trustee Since June 2020**
## **Nomination Committee (Chair), Remuneration Committee (m)**
Lauren is an entrepreneurial D&I leader, founder, and charity trustee with global experience across sectors. She’s driven equity initiatives for organisations like The LEGO Group, Expedia, and J.P. Morgan, co-founded businesses, and industry networks for D&I progress. A recognised speaker and advisor, Lauren has earned numerous awards, including Forbes recognition and Chief ED&I Officer of the Year.
## **Stuart Watson Trustee Since April 2024**
## **Audit Committee (Chair)**
Stuart is a Chartered Accountant and Non-Executive Director, chairing audit committees for VP plc, Flowtech Fluidpower plc, and the Humber & North Yorkshire Integrated Care Board. He advises Panmure Liberum. Previously, he was a Senior Partner at EY overseeing entrepreneur of the year and served on the University of Bradford Council.
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**GOVERNANCE**
## **Digital Boost Directors**
## **Angela Stathi**
## **Chair**
Angela works in the fields of finance, sustainability, emerging tech, energy, defence and health. She is an experienced C-level executive and certified Board Member and Chair in public and private markets, advising publicly traded and private companies, regulators and multilaterals.
## **Karen Licurse**
## **Managing Director**
Karen leads the team at Digital Boost, using tech for good to make it easy for all small businesses to access personalised support and connections to grow their business and themselves.
## **Gemma Jones**
## **Finance Director**
Gemma is Director of Finance and Operations and a Chartered Accountant. She trained with Deloitte in their Entrepreneurial Business team and specialises in advising small to medium-sized businesses.
## **Evelyn Oluwole**
## **Non-Executive Director**
Evelyn has two decade of expertise in media sales, specialising in transforming potential into profit.
## **Grace Davey**
## **Non-Executive Director**
Grace is a product and innovation leader at BCG X, where she leads the Product and Design Chapter across EMESA.
## **Matthew Sinclair**
## **Non-Executive Director**
Matthew is a technology leader with 30+ years’ experience and a board member of the Royal Academy of Engineering’s Shott Scale-Up Accelerator. Formerly Partner and VP Engineering at BCG Digital Ventures, he led engineering across EMESA.
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**GOVERNANCE**
## **Structure & governance**
## **Legal form and governing document**
Founders4Schools (“F4S”) is a Charitable Incorporated Organisation (CIO – Foundation model), registered in England & Wales (No. 1162197). The CIO was registered on 15 June 2015 and its constitution was amended on 2 May 2023 and 14 August 2025. Charity Register
## **Trustee recruitment, appointment and induction**
Trustees are appointed in line with the CIO constitution through skills-based recruitment. New trustees receive an induction pack, meet key staff and committee chairs, and are offered ongoing training on duties, safeguarding, risk and finance, consistent with SORP guidance. SORP
## **Organisational structure and management**
The Board meets regularly and is supported by three board committees: Audit (Chair: Stuart Watson), Remuneration (Chair: Janet Coyle CBE), and Nomination (Chair: Lauren von Stackelberg). Day-to-day operations are delegated to the senior leadership team.
## **Members & Advisors**
The Board is governed by its Members and advised by its Leadership Council and Academic Steering Committee. Members and Advisors are leaders from education, business and government and meet regularly to review programmes and inform strategy.
## **Group structure and related parties**
F4S has a wholly-owned trading subsidiary, Digital Boost Upskilling Ltd (company 10187293), which delivers mentoring and peer learning for SMEs. The subsidiary’s activities are overseen through regular reporting, aligned policies and budgetary controls; the relationship and name change were disclosed in prior filed trustees’ reports.
## **Risk management**
The trustees review principal risks (including safeguarding, data protection, funding concentration, cyber, and compliance) and maintain proportionate policies, internal controls and assurance. This approach follows SORP expectations for the TAR. SORP
## **Reference and administrative details**
Charity No. 1162197; registered office 22 Chancery Lane, London WC2A 1LS Website: http://www.f4s.org..uk
Further administrative details are set out in the notes to the financial statements. Charity Commission
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**GOVERNANCE**
## **Members**
**F4S Members support F4S and play a vital governance role, including approving Trustees and our Annual Accounts.**
Alex Marsh - F4S Trustee
Amali de Alwis MBE - abrdn
Angela Stathi - European Commission Becky Donaldson - NCETM Belinda Raynes - The Times CEO Summit Caroline Wiertz - Bayes Business School Charlene Laidley - University of Cambridge Cheryl Gourlay - NatWest Claire Valoti - F4S Trustee* Colin Hegarty - HegartyMaths Colin Adams - Edinburgh Festival Fringe
Society Diane Perlman - BRanding Matters Divesh Chaniramani - Trustee Emily Nott - Innovate UK Esther Wershof - Altos Labs Gemma Jones - Digital Boost Giorgia Ruggiero - The Holy Cross School Gori Yahaya - UpSkill Universe Grace Davey - BCG Digital Ventures Ian Ritchie - (SCDI) - Iryna Kocharova Lloyds Banking Group Jenk Oz - Janet Coyle F4S Trustee - Joanne Hannaford F4S Trustee John Mushriqui - InRange Energy
Julian Palmer - F4S Trustee Karen Licurse - Digital Boost Kerensa Jennings - BT Lauren von Stackelberg - The LEGO Group - Lucinda Bruce Gardyne - Genius Foods Ltd Megan Smith - shift7 Michael Anderson - DOTTT Michelle de Klerk - The Women's Chapter Mina Gerowin - Maths4Girls Oli Barrett - Powered By Ethos Patrick Dunne - Boardelta Paul Rouse - Systematica Investments Limited Phil Smith CBE - IQE
Russ Shaw CBE - Tech London Advocates* Sarah Kerruish - Kheiron Medical Sean MacKenzie - Monzo Bank
Serpil Timuray - Vodafone Sharon Cromie - ICGS Sherry Coutu CBE - F4S Trustee* Stuart Watson - F4S Trustee
Tasha Morrison
Tim Oates CBE - Cambridge Assessment
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**GOVERNANCE**
## **Leadership Council**
**The Leadership Council comprises stakeholders from the world of business and education. Together, we review our achievements, plan for the future, and use our collective knowledge to propel our mission forward.**
Alex Smith - Department of Education Alistair Johnston - QA Amrita Chauhan Sanyal - HSBC Becky Donaldson - NCTEM Bruno Reddy - Maths Circle
Carl Ward - FED Education Catherine Boulton - The Royal Society Charlotte Hastings - Seven Hills Christy Lombard - Rathbones Group - Dawn Miller Lloyds of London Foundation - Elizabeth Tyler Oxford University Press - Ems Lord University of Cambridge - Esther Wershof Altos Labs - Giorgia Ruggiero The Holy Cross School - Helen Harth NHS - Helen Newies Maths Circle - Ileana Vidaurri Brain Food - Iryna Kocharova Lloyds Banking Group - Jahnavi Mayal JP Morgan - Jameela Noor Lombard Odier John Yarham - Careers & Enterprise Co Julian Palmer - Ometria Katie Gaffney - Goldman Sachs - Lucy Blair Samson Rock Capital
Luke Manning - London Stock Exchange Marie Jobson - Careers & Enterprise Co Melanie McMordie - BT
Michael Anderson - DOTTT Michael Hayman MBE DL - Seven Hills Michelle De Klerk - The Women’s Chapter Mina Gerowin - Maths4Girls (co-chair) Mingaile Janeliauskaite - CIBC Paul Rouse - Systematica Priyanka Sethi - TCS Rachel Arthur - Teach First Rachel Beddoes - MEI Scout Davies - The Children's Commissioner Sean MacKenzie - Monzo Bank Sherry Coutu CBE - Founders4Schools (co-chair) Sophie Carr - Bays Consulting Susan Burton - Classlist Tara Chand - OakNorth Bank Tim Oates CBE - Cambridge Assessment Valentina Kristensen - OakNorth Bank Veronica Humble - Cushon Wen Yun Low - Natwest
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**GOVERNANCE**
## **Academic Steering Committee**
**The Academic Steering Committee comprises stakeholders from the world of education. It meets quarterly to review the efficacy of our programmes to close the gaps between gender, socioeconomic classes, and post codes.**
- Alison Clark Wilson - UCL Inst of Education Professor Paul Glaister CBE - U of Reading Christy Lombard - Rathbones Group Rachel Beddoes - MEI- MEI Anne Murray-Hudson - Maths Anxiety Trust Ralph Pickles - Outwood Grange Rich Hickin - Ark Curriculum- Ark Curriculum Becky Donaldson - NCETM
Rachel Beddoes - MEI- MEI Ralph Pickles - Outwood Grange Rich Hickin - Ark Curriculum- Ark Curriculum Rob Eastaway - Maths Inspiration Ryan Gibson - Academies Enterprise Trust Sarah Denison - MEI Sarah Pearson - Ark Sharon Witherspoon - Royal Statistical Society Stephanie Calhoun - Children's Commissioner Stephen Fraser - EEF Timo Hannay - School Dash Ltd Toby Baker - OECD Tony Mann - University of Greenwich
Carole Haynes - Royal Statistical Society Charlotte Avery - St Mary's School, Dr Camilla Gilmore - Loughborough University Dr Helen Drury - Maths Excellence Fund Dr Patrick Wallace - St Mary's School, Ems Lord - the University of Cambridge Jane Fisher - Jane Fisher Associates Ltd - Joe Sarchet Winters - Ark
Laurie Forcier - EDT & Partners - Lucy Rycroft Smith - Cambridge Mathematics Lynne McClure - Cambridge University Press & Assessment
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **2024/25 Annual Accounts**
## 10 years **Dedicated to the Futures 4 Students, Schools and Scaleups**
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
**Report of the Trustees and Financial Statements for the Year Ended 30 June 2025 for Founders4Schools**
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Contents of the Financial Statements for the Year Ended 30 June 2025**
**Page 50 51 to 58 59 to 60 61 62 63 64 65 66 to 80**
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Chairman’s Report**
This year marks F4S's tenth anniversary as a charity. Over the past decade, we have empowered hundreds of thousands of young people, thousands of teachers, and tens of thousands of small business owners on their journeys, delivering more than 50,000 volunteer hours in the past year alone and attaining a Net Promoter Score of 73.
Yet our story lies not in numbers, but in the personal connections that spark ambition and growth every day. When a young girl first sees herself as a future scientist after meeting a relatable role model. When a young man catches an entrepreneurial spark during work experience at a start-up. When a small business owner overcomes their fear of AI and unlocks new possibilities after speaking with one of our mentors.
As AI acceleration and global economic shifts transform work before our eyes, F4S's mission becomes increasingly vital. Young people need confidence, resilience, and curiosity to thrive. Small businesses must adapt quickly to stay competitive. Future jobs will require skills that don't yet exist.
I acknowledge our trustees, advisors, mentors, colleagues, partners, and volunteers, whose commitment has shaped F4S into what we are today. Your contributions—in classrooms, boardrooms, and behind the scenes—drive our impact.
Looking ahead, we are accelerating engagement with schools and small businesses, leading the AI transition for priority groups, and setting new standards for skills-based volunteering. By embedding AI deeper and building lasting partnerships, we're creating sustainable change that ensures equity and opportunity regardless of geography.
I look forward to building together a more confident, connected, and inclusive workforce ready to embrace the future.
Sherry Coutu CBE Chairman
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS Report of the Trustees for the Year Ending 30 June 2025**
The trustees present their report together with the group financial statements of the charity and its wholly owned subsidiary Digital Boost Upskilling Limited (Digital Boost) for the year ended 30 June 2025.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 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. We have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## OBJECTIVES AND ACTIVITIES
The objects of the charitable incorporated organisation (CIO) are to encourage and enable young people to leave formal education with a skill set that is appropriate for or consistent with future jobs; and to encourage and enable people of any age to advance their skills.
We promote our objects with particular reference to entrepreneurship in the fields of technology, applied sciences and related subjects.
## ABOUT US
We're an award-winning charity that leverages technology & AI to empower young people to make informed career choices by connecting them with a network of inspiring volunteer role models. We work in partnership with governments, corporates, and educational institutions to bridge the gap between education and the world of work. Whether in a classroom or a virtual setting, our mission is to give all people the best start in life, no matter their background, by preparing them for the everchanging world of work.
Our trading subsidiary, Digital Boost, leverages technology to ensure that anyone who wants to start or grow a business can access personalised support and expertise, regardless of the stage they're at, location, sector or existing networks. Through a community of 4,000+ volunteers, they deliver unlimited 1:1 mentoring, masterclasses, actionable peer learning programmes and more. This helps build their skills and confidence, enhancing their organisation's resilience. Thriving small businesses improve our communities and our economy.
The services we provide help to improve social mobility, inclusivity, and access to digital skills, levelling the playing field for those who need them the most.
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS Report of the Trustees for the Year Ending 30 June 2025**
## H **IGHLIGHTS OF THE YEAR**
Over the past year, F4S accelerated the career prospects of more than 72,000 students, 12,000 small businesses & provided granular transparent insights to hundreds of our partners.
**F4S** bridges the gap between the classroom and the world of work, helping young people see what’s possible. We offer a range of mentoring, peer learning, masterclasses, and CPD workshops to help educators align with and deliver on the Gatsby Benchmarks, as well as upgrade their own skills.
**Superpower** directly empowers students on transformative upskilling journeys, converting untapped potential into highdemand career pathways they may never have discovered on their own. Through strategic mentorship, targeted skills workshops, and hands-on work experience, graduates enter the workforce as immediate contributors with market-ready skills.
**Digital Boost** ensures that every small business leader and their teams —regardless of background or postcode—have the networks, skills and talent to develop their business so that it is everything it can be. By investing in entrepreneurs and employees together, we create lasting change with a multiplier effect. Small business founders gain the skills, networks, and confidence to grow; employees build leadership, coaching, and entrepreneurial mindsets; and partner organisations embed cultures of inclusion and innovation.
Throughout the year, we committed to innovation, making it easier for small businesses and schools to schedule meetings and workshops, and we deepened our outreach to areas of high deprivation, people with disabilities and improved our local labour market information.
Through our action planning tools, we ensured that our users put their learnings into practice. And thanks to our messaging centre, communication has never been easier!
## **PUBLIC BENEFIT**
The trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and in planning activities.
During 2024/25, F4S advanced its purposes of advancing education and improving employability by:
- Connecting students and educators with volunteer role models and mentors from industry Supporting small business owners with mentoring and peer learning to sustain local employment and skills Delivering free and inclusive programmes that raise aspirations, build essential skills, and align with national careers frameworks
All services were provided free at the point of use, with targeted outreach to under-represented and disadvantaged groups. Any private benefits to volunteers or corporate partners (such as skills development or brand enhancement) were incidental and necessary to achieving charitable aims.
The trustees considered potential risks or harms, including safeguarding and data protection, and confirmed that appropriate policies and controls are in place. They are satisfied that, in the year under review, the charity’s activities delivered demonstrable public benefit in line with its purposes.
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS Report of the Trustees for the Year Ending 30 June 2025**
## **FINANCIAL REVIEW**
The group financial statements consolidate the results of the charity and its wholly-owned subsidiary Digital Boost Upskilling Limited.
The group generated total income of £1,429,132 for the year ended 30 June 2025 (2024: £1,342,318) This consists of £717,738 (2024 £964,131) from donations and grants and £711,394 (2023 £377,888) from other sources.
Restricted income, which can only be used for a specific purpose, amounted to £500,133 (2024: £887,948) and made up 35% (2024: 66%) of total income.
Total costs were £1,229,395 (2024: £1,205,767 restated).
Group funds carried forward at the end of the year were £472,303 (2024: £272,566 restated), which comprised £429,204 (2024: £1248,113 restated) in unrestricted funds and £43,009 (2024: £24,453) in restricted funds.
## Digital Boost Upskilling Limited
Digital Boost Upskilling generated a total income of £892,109 for the year ended 30 June 2025 (2024: £951,421).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
F4S is a charitable incorporated organisation (CIO) governed by its constitution.
It has the support of many stakeholders from the worlds of education, philanthropy, government and business that support our important work.
## **INVESTMENT POLICY**
The charity will only make investments in organisations whose objectives are consistent with the charitable aims of Founders4Schools.
## **RESERVES POLICY**
The charity’s trustees have indicated that they would like free reserves to be at least four months of operating expenditure by the end of June 2026 to manage financial risk and income volatility. As of 30 June 2025, free reserves of the charity were £7,636 (2024: £24,063), which is below what the Trustees would like them to be. The Trustees are confident that actions have been taken to ensure that the free reserves will be within their risk appetite by June 2026, if not before.
Free reserves are a part of the charity’s unrestricted funds that are freely available to spend on any of the charity’s purposes.
Free reserves are calculated by taking the total unrestricted funds and excluding tangible fixed assets and investments, as these assets are not freely available to contribute towards working capital requirements.
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**Trustees Annual Report 2024/25**
## **PRINCIPAL RISKS**
The principal risks facing the charity, as identified by the trustees, are outlined below along with the strategies to mitigate them:
## 1. Lack of funding - Risk mitigation:
Ensure the pipeline of fundraising activity is split between existing supporters and business development to identify and attract new supporters
Diversify fundraising sources and income streams.
## 2.- Low customer satisfaction: Risk mitigation:
Ensure regular feedback from users and software updates on operational functionality Secure in-kind support to upgrade the platform
## 3. Talent attraction & Retention – Risk mitigation:
Training, performance development and feedback systems are reviewed regularly Staff surveyed and action taken on issues highlighted
## 4. Competition Risk – Risk mitigation
Diversifying funding sources, enhancing beneficiary engagement, and regularly reviewing programs to ensure they meet evolving needs, maintaining financial sustainability and service relevance.
## 5. Cyber Risk – Risk mitigation
Implementing robust security protocols, conducting regular system audits, and providing staff training to protect sensitive data and ensure continuing of operations.
## **THANK YOU TO OUR DONORS AND PRO BONO PARTNERS**
We would like to thank all our donors & partners for your ongoing support and look forward to working with you further on our important shared mission
To find out more about our partners, please visit www.founders4schools.org.uk/partners.
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS Report of the Trustees for the Year Ending 30 June 2025**
**Trustees Annual Report 2024/25**
## **ORGANISATIONAL STRUCTURE**
The charity's decision-making and overall strategic direction are determined by the trustees, who are supported by Advisory Councils, which are made up of senior business leaders and educationalists.
The following table summarises the key elements of the charity’s organisational structure:
The Chair is Sherry Coutu.
New trustees are appointed by the board, after a skills audit and a gap analysis, at the recommendation of the Nominations Committee. New trustees are issued with an appointment letter together with an agreement for signing and as part of their induction will meet with each member of the senior management team to gain a comprehensive overview of all current activities. Trustee training and development is reviewed on an annual basis.
The trustees and the senior management team constitute the key management personnel of the charity. No trustee received remuneration during the period.
The Board of Trustees has delegated responsibility to the Board Remuneration Committee (“Remco”) to oversee the remuneration arrangements in respect of the Executive Director and set the targets for performance-related pay.
The Remco reviews the existing remuneration of the Executive Director, making comparisons with peer charities of similar size and complexity and is informed by a range of external benchmarking reports.
The pay of all senior staff is reviewed annually by the Executive Director for F4S and by the Remuneration Committee by DB initially who then makes recommendations to the F4S Remuneration Committee. The Remuneration Committee makes a recommendation to the Board of Trustees. It is our policy to remunerate fairly, to ensure that we attract and retain the skills we require to deliver our service offering and future strategy. We benchmark roles and job descriptions to relevant not-for profit sector role
## INFORMATION ON FUNDRAISING PRACTICES
F4S is supported by a number of corporations, charitable trusts and foundations, as well as philanthropic gifts from major donors. We thank supporters appropriately and demonstrate the difference their money makes.
The Charity has in place a range of policies and processes that promote corporate responsibility and ethical behaviour, and we have further strengthened our approach during the course of the year. This includes an updated whistle blowing policy
Since 1 September 2021 F4S has been registered with the Fundraising Regulator, an independent body who set and maintain the standards for charitable fundraising.
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS Report of the Trustees for the Year Ending 30 June 2025**
**Trustees Annual Report 2024/25**
## INFORMATION ON FUNDRAISING PRACTICES (continued)
By registering, we commit to fundraising in accordance with the regulator's strict codes and the Fundraising Promise, ensuring our fundraising is legal, open, honest, and respectful.
We do not sub-contract fundraising activities to third parties.
We have received no complaints about our fundraising activities during both this year and the previous one.
We are developing our fundraising strategy and plans for 2024/25 and beyond as part of the business planning process. The high-level goals are:
To stabilise and diversify our sources of funding, including:
i. Continue to build our corporate and major donor prospect pipeline to increase the number of organisations we work with and secure financial support from
ii. Grow unrestricted income to support our activity
iii. Secure restricted income only where it fits with our strategic goals
iv. Develop and implement an engagement strategy for high net worth individuals
v. Devote time and resources into building long-term relationships with potential donors
vi. To build a case for support which attracts High Net Worth support
To build capacity and infrastructure to support a more diverse funding model, including:
## i. Rebuild capacity in the team to support UK expansion
ii. Communicate effectively with partners and donors with regular impact reports, newsletters, events, and other engagement activities
iii. Improve donor communication and recognition via the website
iv. Integrate fundraising messages into our marketing activities
During the year, the charity spent £29,756 (2024: £7,049) on raising funds.
## **PLANS FOR THE FUTURE**
Digital skills, sustainability and inclusion are important to all of us & the wider UK economy. Raising awareness, tackling socio-economic barriers and developing talent will continue to be a focus when developing projects and partnerships.
## Digital Boost
Digital Boost’s key priority for the coming year is to continue to grow its community, and continue to drive true, measurable impact in the businesses we support. We are also completing another significant upgrade to our enhancement to allow even greater flexibility and connection, and will continue to expand our support offerings.
## Superpower
On 9th April 2024, F4S purchased the IP relating to the Superpower platform from Superpower's administrator. We hope to secure funding to further develop and utilise this asset to further our charitable objects.
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**Trustees Annual Report 2024/25**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1162197
## **Principal address**
22 Chancery Lane London WC2A 1LS
## **Trustees**
Sherry Coutu CBE - Chair Divesh Chandiramani Janet Coyle Joanne Hannaford Alex Marsh (appointed November 2024) Julian Palmer Paul Rouse (appointed October 2024) Claire Valoti Lauren Von Stackelberg Stuart Watson
**Directors of Digital Boost** Andrew Cox (resigned 11 October 2025) Gemma Jones Karen Licurse Bolanle Oluwole Matthew Sinclair (appointed 10 June 2025) Angela Stathi Grace Wang Andrew Woodward (resigned 24 February 2026)
## **Key management personnel**
Trustees
## **Auditors**
Sumer Auditco Limited Statutory Auditor Chartered Accountants County Gate County Way Trowbridge Wiltshire BA14 7FJ
## **Solicitors**
Shoosmiths No.1 Bow Churchyard London EC4M 9DQ
## **Banks**
Barclays Bank Leicester LE87 2BB
Metrobank One Southampton Row London WC1B 5HA
## **Registered office**
22 Chancery Lane London WC2A 1LS
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS Report of the Trustees for the Year Ending 30 June 2025**
**Trustees Annual Report 2024/25**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations
2008 and the provisions of the trust deed 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 charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charity and to 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.
Approved by order of the board of trustees on 26th of March 2026 and signed on its behalf by:
........................................................................ Sherry Coutu CBE - Trustee
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Report of the Independent Auditors to the Trustees of Founders4Schools**
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**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Report of the Independent Auditors to the Trustees of Founders4Schools**
In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
- Understanding of management's internal controls designed to prevent and detect irregularities, and fraud;
- - Reviewing the minutes of Board of Trustees meetings;
- Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing of
- - expenses; - Performing analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud;
- Reviewing of the financial statements disclosures and testing to supporting documentation to assess compliance
- - with relevant laws and regulations discussed above; Testing transactions entered into outside of the normal course of the charitable company's business; and Identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals with round numbers
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Sumer Auditco Limited Statutory Auditor Chartered Accountants
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 County Gate County Way Trowbridge Wiltshire BA14 7FJ
Date: 31 March 2026
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Consolidated Statement of Financial Activities for the Year Ended 30 June 2025**
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Consolidated Statement of Financial Position**
## **30 June 2025**
|Debtors
Cash at bank
Intangible assets
Tangible assets
Investments
Unrestricted funds
Restricted funds
**TOTAL FUNDS**
Amounts falling due within one year
**NET CURRENT ASSETS**
16
16
14
15
Notes
11
12
13
**CREDITORS**
**NET ASSETS**
**FUNDS**
**FIXEDASSETS**
**CURRENTASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**|98,904
121,919
251,781
373,700
429,204
429,204
£
322,111
8,189
-
330,300
(274,796)
Unrestricted
funds|-
£
43,099
43,099
43,099
661
42,438
43,099
-
-
-
-
Restricted
funds|2025
Total
funds
142,003
472,303
122,580
294,219
416,799
472,303
429,204
43,099
472,303
£
322,111
8,189
-
330,300
(274,796)|272,566
83,998
559,056
634,054
133,510
272,566
248,113
24,453
272,566
£
129,651
9,405
-
139,056
2024
Total
funds
as restated
(509,544)|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 March 2026 and were signed on its behalf by:
............................................. Sherry Coutu CBE - Trustee
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Charity Statement of Financial Position 30 June 2025**
|-
Debtors
Cash at bank
Intangible assets
Tangible assets
Investments
Unrestricted funds
Restricted funds
**TOTAL FUNDS**
Amounts falling due within one year
**NET CURRENT ASSETS**
16
16
14
19
15
Notes
11
12
13
7,366
82,698
82,698
62,106
-
62,106
(54,740)
Unrestricted
funds
£
9,000
6,232
60,100
75,332
43,099
43,099
43,099
661
42,438
43,099
Restricted
funds
£
-
-
-
-
**CREDITORS**
**NET ASSETS**
**FUNDS**
**FIXEDASSETS**
**CURRENTASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**|125,797
62,767
42,438
105,205
50,465
2025
Total
funds
£
9,000
6,232
60,100
75,332
125,797
82,698
43,099
125,797
(54,740)
59,956
84,292
144,248
48,516
58,236
58,236
33,783
24,453
58,236
2024
Total
funds restated
£
9,000
620
100
9,720
(95,732)|
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 26 March 2026
.herry Coutu CBE - Trustee
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Consolidated Statement of Cash Flows for the Year Ended 30 June 2025**
|||2025|2024|
|---|---|---|---|
||||as restated|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|18|(63,143)|241,248|
|Net cash/provided by operating activities||(63,143)|241,248|
|**Cashflows from investing activities**||||
|Purchase of tangible fixed assets||(1,954)|(7,971)|
|Purchase of intangible fixed assets||(199,740)|(129,651)|
|Interest received||-|299|
|Net cash used in investing activities||(201,694)|(137,324)|
|**Change in cash and cash equivalents in**||||
|**the reporting period Cash and cash**||(264,837)|103,925|
|**equivalents at the beginning of the**||||
|**reporting period**||559,056|455,131|
|**Cash and cash equivalents at the end of**||||
|**the reporting period**|19|294,219|559,056|
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
||**Charity Statement of Cash Flows**|**Charity Statement of Cash Flows**||
|---|---|---|---|
||**for the Year Ended 30 June 2025**|||
|||2025|2024|
||||as restated|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|18|(26,455)|14,382|
|Net cash/provided by operating activities||(26,455)|14,382|
|**Cashflows from investing activities**||||
|Purchase of tangible fixed assets||(8,309)|-|
|Purchase of intangible fixed assets||(60,000)|-|
|Interest received||-|229|
|Net cash used in investing activities||68,309|(8,771)|
|**Change in cash and cash equivalents in**||||
|**the reporting period Cash and cash**||(41,854)|5,681|
|**equivalents at the beginning of the**||||
|**reporting period**||84,292|78,611|
|**Cash and cash equivalents at the end of**||||
|**the reporting period**|19|42,438|84,292|
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Consolidated Financial Statements for the Year Ended 30 June 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
Founders4Schools is a charitable incorporated organisation registered in England and Wales. The principal address of charity is given within the reference and administration details of these financial statements. The nature of the charity's operations and principal activities are provided in the Report of the Trustees.
The charity constitutes a public benefit entity as defined by FRS 102. 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.
## **Basis of consolidation**
These group financial statements consolidate the results of the charity and its wholly-owned subsidiary Digital Boost Upskilling Limited, both of which make up their financial statements to 30 June. Inter group income and expenditure is eliminated and all income and expenditure relate to external transactions only. A separate statement of financial activities for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by Section 24 of Accounting and Reporting by Charities: Statement of Recommended Practice.
## **Going concern**
The trustees have considered the charity’s cash flow projections to ensure that the charity will continue to be able to operate with the resources it is likely to have available and concluded that the charity is a going concern.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations and any associated Gift Aid are recognised on receipt of the donation. Gift in kind donations for services are recognised at the estimated value to the Charity.
Corporate partnership income is recognised after the first 30 days from the beginning of the contract as the time to deliver the benefits is materially delivered in this initial 30 day period.
Service contract income is recognised in proportion to costs incurred for work to date compared to total costs to completion.
## **Grant Income**
All foreign grantincome receivable is stated in the financial statements at the exchange rate prevailing on the date of the receiptofthe fund.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Software development costs**
Website costs and software development costs are capitalised and held at depreciated costs after any impairment. This is a change in accounting policy from the previous year and has resulted in a prior year adjustment (see note 20).
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Intangible fixed assets**
Intellectual Property and software development is capitalised at cost. Amortisation will be provided in order to write off each asset over its estimated useful life. For the purpose of the 2025 accounts, no amortisation has been charged as the assets were not in use. The useful life of the asset will be assessed in the next financial period when it is clearer how the asset will be developed and how long this will likely benefit the group.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on straight line basis
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds may be used in accordance with the charitable objectives at the trustees' discretion.
Restricted funds can only be used for specific purposes within the charity's objects. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension scheme**
From October 2017 Founders4Schools has operated a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of Founders4Schols in an independently administered fund. The pension costs charged in the financial statements represent the contributions payable during the year.
## **Debtors and creditors**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Loans are initially recognised at transaction price and then subsequently measured at amortised cost using the effective interest rate model, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
## **Financial instruments**
The charity has only 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.
## **Management Judgements**
## _**Key management personnel identification**_
Management judgements – identification of key management personnel (KMP). KMP are those staff who have authority and responsibility for planning, directing and controlling the activities of the Group. The trustees assessed roles against this definition with reference to the Group’s Scheme of Delegation, Board-approved budget and strategy, and Remuneration framework.
For this reporting period, Group KMP comprise the F4S Trustees only. Roles at the subsidiary Digital Boost Upskilling Ltd (Managing Director and Chief Technology Officer) were not included as Group KMP because they: (i) operate within the Board-approved Group strategy, budget and policies; (ii) do not set Group strategy or remuneration frameworks; (iii) cannot commit the Group beyond delegated monetary and contractual limits; and (iv) are accountable to the F4S Trustees through a documented management services/SLA and matters reserved for the board. Their compensation is therefore disclosed within staff costs but not within the Group KMP aggregate.
## **Capitalisation of Software Development**
The Trustees are holding the costs of developing a piece of software. They are satisfied that requirements of the relevant accounting standards to capitalise such costs have been met.
## **Basis of consolidation**
The Group financial statements consolidate the results of Founders4Schools (“the Charity”) and its wholly-owned trading subsidiary Digital Boost Upskilling Ltd (“Digital Boost”). Intra-group transactions and balances are eliminated on consolidation. Related party disclosures are made in accordance with the Charities SORP and therefore include transactions between the Charity and its subsidiary undertakings, notwithstanding the exemption in FRS 102.33.1A.
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Relatedparties**
Related parties include trustees and persons connected with them, subsidiary undertakings, key management personnel, and entities in which related parties have a controlling or significant influence. The Group does not apply the FRS 102.33.1A exemption in these financial statements; transactions with the wholly-owned subsidiary are disclosed in the Related Parties note.
|**2.**|**DONATIONS AND LEGACIES**|||
|---|---|---|---|
||**(Group)**|2025|2024 as
restated|
|||£|£|
||Donations|148,881|87,617|
||Gift aid|36,924|12,500|
||Corporate Gifts
Grants from Institutions and Trusts|307,960
223,973|740,639
89,000|
|||717,738|964,131|
Significant grants and donations received, included in the above, are as follows:
|**Grants from Institutions & Trusts**|2025|2024 as
restated|
|---|---|---|
|The Scottish Government
Other grants under £50,000|£
179,465
44,508|£
50,000
39,000|
||223,973|89,000|
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **3. INVESTMENT INCOME**
|**3.**|**INVESTMENT INCOME**|||||
|---|---|---|---|---|---|
|||||2025|2024 as|
|||||£|restated|
||||||£|
||Deposit account interest|||-|299|
|**4.**|**RAISING FUNDS**|||||
||**Raising donations and legacies**|||||
|||||2025|2024 as|
|||||£|restated|
||||||£|
||Staff costs|||15,631|7,049|
||Travel and subsistence|||14,125|-|
||Sundries|||||
||Total funds spent on raising funds|||29,756|7,049|
|**5.**|**CHARITABLE ACTIVITIES COSTS**|||||
|||||Support||
||||Direct|costs (see||
||||Costs|note 6)|Totals|
||||£|£|£|
||Educational support||659,849|33,379|693,228|
||||2024 as|2024 as|2024 as|
||||restated|restated|restated|
||||Direct Costs|Support Costs||
|||||(see note 6)|Totals|
||Educational support||£|£|£|
||||918,740|93,175|1,011,915|
|**6.**|**SUPPORT COSTS**|||||
|||||Governance||
|||Management|Finance|costs|Totals|
|||£|£|£|£|
||Educational support|13,143|397|19,839|33,379|
|||||2024 as||
|||2024 as|2024 as|restated||
|||restated|restated|Governance||
|||Management|Finance|costs|Totals|
||Educational support|£|£|£|£|
|||73,765|684|18,706|93,175|
Support costs are allocated between raising funds and charitable activities based on the estimated proportions of use of those resources.
Support costs, included in the above, are as follows:
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2025**
## **6. SUPPORT COSTS continued**
||||
|---|---|---|
|**SUPPORT COSTS continued**|2025|2024|
||Educational|Educational|
||support|support|
|||as restated|
||£|£|
|Rent|209|26|
|Insurance|2,601|3,554|
|Postage and stationery|-|1,336|
|Advertising and marketing|4,107|55,845|
|Sundries|-|188|
|Fundraising Events|-|41,864|
|Recruitment|1,936|2,371|
|Legal fees|814|536|
|Depreciation of tangible and heritage assets|2,697|2,269|
|Bank charges|397|684|
|Auditors' remuneration|19,839|18,706|
||33,379|93,175|
## **7. AUDITORS' REMUNERATION**
|**AUDITORS' REMUNERATION**|||
|---|---|---|
||2025|2024 as|
|||restated|
||£|£|
|Fees payable to the charity's auditors for the audit of the charity's financial|||
|statements|19,839|18,706|
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the period ended 30 June 2024.
## **Trustees' expenses**
Expenses of £13,640 (2024: £nil) were reimbursed to trustee(s) for charity costs.
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**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **9. STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
||Year|Year|
||ended|Ended|
||30.6.25|30.6.24|
|||as restated|
||£|£|
|**Charity**|||
|Wages and salaries|631,327|622,745|
|Social security costs
Pension|84,957
21,165|70,434
18,820|
||737,449|711,999|
GIn the previous year - the Charity considered its key management personnel to comprise the trustees and the Finance Director. Total employee benefits for 2024 were £16,656.
In the current year, the charity considered its key management personnel to comprise solely of the trustees who are not remunerated for their role in managing the Charity. Total employee benefits in 2025 were therefore £nil.
See Note 17 (Related Party Disclosures) for transactions and balances with Digital Boost Upskilling Ltd, the Group’s wholly-owned subsidiary.
2 employees (2024: 2) received emoluments in excess of £60,000 per annum:
||2025|2024 as|
|---|---|---|
||No.|restated
No.|
|Salary band|||
|£100,001 – £110,000|-|1|
|£130,001 - £140,000|1|-|
|£150,001 - £160,000|1|1|
The average monthly number of employees during the year was as follows:
|FTE
Developers
Partnerships and operations
Management
Administration
Fundraising|13
2025
14
2024 as
restated
4
7
2
1
0
4
7
2
1
0|
|---|---|
**71**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
|Educational support
Donations and legacies
Trading company income
Investment income
Other income
**Total**
Raising funds
Trading company expenditure
139,727
333,579
120,791
248,113
7,049
186,803
127,322
377,888
299
-
454,370
Unrestricted
funds
£
76,183
872,188
872,188
8,693
15,760
24,453
-
-
-
887,948
-
-
Restricted
funds
£
887,948
**10.**
**Total**
**EXPENDITUREON**
**Charitableactivities**
**Other trading activities**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**NET INCOME/(EXPENDITURE)**
**INCOME AND ENDOWMENTS FROM**
**TOTAL FUNDS CARRIED FORWARD**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES(asrestated)**|1,011,915
1,205,767
Total
funds
£
964,131
136,015
272,566
7,049
186,803
136,551
377,888
299
-
1,342,318|
|---|---|
**72**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2025**
## **11. INTANGIBLE FIXED ASSETS Group**
|**INTANGIBLE FIXED ASSETS**
**Group**||
|---|---|
||Intellectual|
||Property|
||£|
|**COST**||
|At 1 July 2024 as restated|129,651|
|Additions|192,460|
|At 30 June 2025|322,111|
|**NET BOOK VALUE**||
|At 30 June 2025|322,111|
|At 30 June 2024 as restated|129,651|
|**Charity**||
||Intellectual|
||Property|
||£|
|**COST**||
|At 1 July 2024 as restated||
|Additions|9,000|
|At 30 June 2025||
||9,000|
|At 30 June 2025
**NET BOOK VALUE**|9,000|
||9,000|
|At 30 June 2024 as restated||
**73**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2025**
## **12. TANGIBLE FIXED ASSETS Group**
|**TANGIBLE FIXED ASSETS**
**Group**||
|---|---|
||Computer|
||Equipment|
||and Website|
||£|
|**COST**||
|At 1 July 2024 as restated|36,620|
|Additions
Disposals|9,233
-|
|At 30 June 2025||
||45,853|
|**DEPRECIATION**||
|At 1 July 2024 as restated|27,215|
|Charge for year|10,449|
|Depreciation eliminated on disposal|-|
|At 30 June 2025|37,664|
|**NET BOOK VALUE**||
|At 30 June 2025|8,189|
|At 30 June 2024 as restated|9,405|
|**Charity**||
||Computer|
||Equipment|
||And Website|
||£|
|**COST**||
|At 1 July 2024 as restated|9,123|
|Additions
Disposals|8,309
~~-~~|
|At 30 June 2025||
||17,432|
|**DEPRECIATION**||
|At 1 July 2024 as restated|8,503|
|Charge for year|2,697|
|Eliminated on disposal|-|
|At 30 June 2025|11,200|
|**NET BOOK VALUE**||
|At 30 June 2025|6,232|
|At 30 June 2024 as restated|620|
**74**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued**
## **for the Year Ended 30 June 2025**
## **13. FIXED ASSET INVESTMENTS**
## **Charity**
|**Charity**||||
|---|---|---|---|
||Shares in|||
||group|Unlisted||
||undertakings|investments|Totals|
||£|£|£|
|**COSTLESSIMPAIRMENT**||||
|At 1 July 2024|100|-|100|
|Additions|60,000|-|60,000|
|**NET BOOK VALUE**||||
|At 30 June 2025|60,100|-|60,100|
|At 30 June 2024 as restated|100|-|100|
There were no investment assets outside the UK.
The net book value of shares in group undertakings consists of £60,100 investment representing shares held in Digital Boost Upskilling Ltd, formerly F4S Trading Ltd, (incorporated in the United Kingdom, company number 10187293) which is a wholly owned subsidiary.
A summary of the financial performance of the subsidiary is shown below:
||Year|Year|
|---|---|---|
||ended|Ended|
||30.6.25|30.6.24 as|
|||restated|
||£|£|
|Turnover – external|892,109|951,421|
|Total expenditure|(699,126)|(739,251)|
|Profit|192,983|212,170|
**The assets and liabilities of Digital Boost Upskilling Ltd were:**
||Year|Year|
|---|---|---|
||Ended|Ended|
||30.6.25|30.6.24 as|
|||restated|
||£|£|
|Fixed Assets|315,065|129,436|
|Current assets|314,611|508,943|
|Current liabilities|(223,070)|(423,949)|
|Total net assets|406,606|214,430|
|Share capital and reserves|406,606|214,430|
**75**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**Group**||**Charity**||
|---|---|---|---|---|
||2025|2024 as|2025|2024 as|
|||restated||restated|
||£|£|£|£|
|Trade debtors
Prepayments and accrued income
Amounts due from Digital Boost Upskilling
Other debtors|7,645
106,929
-
8,006|36,000
47,998
-
-|7,500
44,244
3,017
8,006|16,000
33,819
10,137|
|||||-|
||122,580|83,998|62,767|59,956|
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||**Group**||**Charity**||
|---|---|---|---|---|
||2025|2024 as|2025|2024 as|
|||restated||restated|
||£|£|£|£|
|Trade creditors
Social security and other taxes
Other creditors
Amounts due to Digital Boost Upskilling
Accruals and deferred income|17,038
23,282
16,554
-
217,922|57,725
35,421
18,367
-
398,031|5,733
5,379
805
-
42,823|21,244
2,712
2,869
-
68,907|
||274,796|509,544|54,740|95,732|
Included in accruals and deferred income is £17,250 grant income received in advance which has been deferred (2024: £277,364).
## **16. MOVEMENT IN FUNDS**
|General fund
Funds of subsidiary
**FUNDS FOR GROUP**
Restricted funds - Youth
58,236
214,330
272,566
24,453
At 1.7.24
As restated
£
33,783
**Restrictedfunds**
**Unrestrictedfunds**
**FUNDS FOR CHARITY**|67,561
132,176
18,646
199,737
Net
movement
in funds
£
48,915|43,099
At
30.6.25
£
82,698
125,797
346,506
472,303|
|---|---|---|
**76**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestrictedfunds**||||
|General fund|290,427|(241,512)|48,915|
|**Restrictedfunds**||||
|Restricted Funds – Youth|319,418|(300,772)|18,646|
|Restricted Funds - Adults|180,715|(180,715)|-|
||500,133|(481,487)|18,646|
|**TOTAL FOR CHARITY**|790,560|(722,999)|67,561|
|Subsidiary company - unrestricted|638,572|(506,396)|132,176|
|Subsidiary company restricted
**FUNDS FOR GROUP**|-
1,429,132|-
(1,229,395)|-
199,737|
Within the charity’s unrestricted fund balance at 30 June 2025 of £82,698 was £7,367 of free reserves. Free reserves are the part of the charity’s unrestricted funds that are freely available to spend on any of the charity’s purposes. Free reserves are calculatedby taking the total unrestricted funds and excluding tangible fixed assets and investments as these assets are notfreely available to contribute towards working capital requirements.
## **Comparatives for movement in funds**
|General fund
Funds of subsidiary
**FUNDS FOR GROUP**
Restricted funds - Youth
**Restrictedfunds**
**Unrestrictedfunds**
**FUNDS FOR CHARITY**|At
1.7.23
136,015
8,693
£
87,441
96,134
39,881|136,551
15,760
(37,898)
174,449
£
(53,658)
Net
Movement
in funds|58,236
214,330
272,566
24,453
At
30.6.24
as restated
£
33,783|
|---|---|---|---|
**77**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements – continued**
## **for the Year Ended 30 June 2025**
## **16. MOVEMENT IN FUNDS – continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestrictedfunds**||||
|General fund|100,167|(153,825)|(53,658)|
|**Restrictedfunds**||||
|Restricted Funds – Youth|341,415|(325,655)|15,760|
|Restricted Funds - Adults|546,533|(546,533)|-|
||887,948|(872,188)|15,760|
|**TOTAL FOR CHARITY**|988,115|(1,026,013)|(37,898)|
|Subsidiary company - unrestricted|354,203|(179,754)|174,449|
|Subsidiary company restricted|-
1,342,318|-|-|
|**FUNDS FOR GROUP**||(1,205,767)|136,551|
The specific purposes for which the funds are to be applied are as follows:
Restricted Funds – Youth To facilitate the Digital Upskilling of youth, with particular focus on inclusion.
Restricted Funds – Adults To facilitate the Digital Upskilling of adults, with particular focus on inclusion.
## **17. RELATED PARTY DISCLOSURES**
## **(a) Subsidiary undertaking – Digital Boost Upskilling Ltd (Company no. 10187293)**
**Nature of relationship:** 100% owned trading subsidiary providing mentoring and peer-learning services for SMEs.
- **Transactions in the year** (all at arm’s length within Group policies):
- Distribution/Gift Aid donation from subsidiary (income to the Charity): £60,822 (2024: £nil)
## **Year-end balances:**
- Amounts owed by Digital Boost to the Charity: £3,017 (2024: 10,137)
- Amounts owed to Digital Boost by the Charity: £nil (2024: £nil)
Although intra-group items are eliminated on consolidation, the above transactions and balances are disclosed to comply with the Charities SORP.
## **(b) Trustees and connected persons**
The trustees received no remuneration (2024: £nil). Expenses of £13,640 (2024: £nil) were reimbursed to trustee(s) for charity costs.
Donations from SL Coutu and closely connected parties totalled £140,150 (2024: £50,000) all given without conditions.
## **(c) Other related parties**
Where trustees, KMP or their connected parties had roles with organisations that transacted with the Group, all such transactions were on normal terms within Group policies. During the year, the Group recognised: income £nil (2024: £nil). Outstanding year-end balances were £nil payable (2024: £nil).
**78**
Registered Charity Number: 1162197
www.f4s.org.uk
**Trustees Annual Report 2024/25**
**ANNUAL ACCOUNTS & FINANCIAL STATEMENTS**
## **Notes to the Financial Statements - continued for the Year Ended 30 June 2025**
## **18. RECONCILIATION OF NET (EXPENDITURE) / INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
## **19.**
|
**ACTIVITIES**||||
|---|---|---|---|
|||2025|2024|
|**Consolidated**|||as restated|
|||£|£|
|**Net (expenditure)/income for the reporting period (as per the**||||
|**Statement of Financial Activities)**||199,737|136,531|
|**Adjustments for:**||||
|Depreciation charges||10,454|14,359|
|Interest received Decrease/(increase) in||-|-|
|debtors Increase/(decrease) in creditors||-|(299)|
|||(38,582)|14,923|
|**Net cash (used in)/provided by operations**||(234,752)|75,714|
|||(63,143)|241,228|
|**Charity**||||
|||2025|2024|
||||as restated|
|||£|£|
|**Net (expenditure)/income for the reporting period (as per the**||||
|**Statement of Financial Activities)**||67,561|(37,898)|
|**Adjustments for:**||||
|Depreciation charges||2,697|2,269|
||||-|
|Interest Received||-|(299)|
|Decrease/(increase) in debtors
Increase/(decrease) in creditors||(2,811))
(40,992)|17,188
33,122|
|**Net cash (used in)/provided by operations**||26,455|14,382|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|**Consolidated:**|At 1.7.24|Cash flow|At 30.6.25|
||£|£|£|
|Cash at bank and in hand
**Netcash**|559,056|(264,837)|294,219|
|**Charity:**|At 1.7.24|Cash flow|At 30.6.25|
|**Netcash**|£|£|£|
|Cash at bank and in hand|84,292|(41,854)|42,438|
## **20. Prior Year Adjustment**
A prior year adjustment was required due to a change in accounting policy to start capitalising intellectual property. There were costs in 2024 of £120,651 that were originally expensed in the subsidiary company and due to this change in policy, require a retrospective adjustment. This has created a new asset of £120,651 and also increased the surplus by the same amount.
**79**
Registered Charity Number: 1162197
www.f4s.org.uk
## **10 years of empowering Educators, Young People and Small Businesses**
## **F4S Group Annual Report and Accounts 2024-2025**
**80**
Registered Charity Number: 1162197