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2025-06-30-accounts

FUTURE FRONTIERS

Registered Charity in England and Wales: 1162470 Registered Company Limited by Guarantee in England and Wales: 08825219 Registered Address: Canopi, 82 Tanner Street, London SE1 3GN

CONTENTS

CONTENTS
Reference and Administrative Details 3
Report of the Trustees 4
Auditor's Report 24
Statement of Financial Activities 28
Balance Sheet 29
Cash Flow Statement 30
Notes to the Financial Statements 31

2

REFERENCE AND ADMINISTRATIVE DETAILS

FUTURE FRONTIERS

Also known as FUTURE FRONTIERS LTD Registered Charity in England and Wales: 1162470 Registered Company Limited by Guarantee in England and Wales: 08825219 Registered Address: Canopi, 82 Tanner Street, London, SE1 3GN

TRUSTEES

Frances Soul Ben Williams Heather Burgess Celeste Cheung Ian Cosgrove Lisa Danino-Lewis Patrick Dempsey Henna Fry Sebastian Hare Hannah Moffat Gary Phillips

(Interim Chair from 25 September 2024) (Chair until 25 September 2024; Resigned 31 December 2024)

(Appointed 4 December 2024) (Appointed 5 September 2024)

(Resigned 15 October 2024)

CHIEF EXECUTIVE OFFICER

Dominic Baker Emma Bradley

(Resigned 25 October 2024) (Appointed 27 August 2024)

AUDITOR

Godfrey Wilson Limited 5th Floor Mariner House, 62 Prince Street, Bristol, BS1 4QD

BANK

HSBC

28 Borough High Street, London, SE1 1YB

3

REPORT OF THE TRUSTEES

HELLO

This year has been one of evolution, learning and renewed purpose at Future Frontiers. As a Board, we are immensely proud that the organisation continues to achieve meaningful outcomes for young people through the collective efforts of our team, partners and everyone who shares our mission.

Early in the year, we welcomed Future Frontiers' new Chief Executive Officer, Emma Bradley, and bid a fond farewell to Dominic Baker, the charity's founder who led the organisation through its first 10 years.

Emma led the Future Frontiers team and wider stakeholders through a process of reflection and renewal. Through this work, we have set out a refreshed strategy for 2025-2028 that builds on strong foundations and sets a clear direction for the years ahead. It reaffirms our belief in a fairer society where every young person can unlock their potential regardless of their background or the barriers they might face.

The real life stories and outcomes shared in this report show the difference that Future Frontiers makes now, and give a sense of the increased impact we can make in years to come. More than 2,400 young people have taken part in our programmes this year, developing the knowledge, skills, confidence and connections to take positive steps towards their futures.

We are deeply grateful to everyone who has played a part in this work. Our partners, funders and volunteers continue to give their time, expertise and resources with generosity. Their commitment enables us to offer meaningful opportunities and lasting support to young people across London.

To all who have supported Future Frontiers over the past year - thank you. Your partnership and belief in our mission make everything we do possible. Together we are creating opportunities that change lives, and we look forward to building on this progress in the year ahead.

FRANCES SOUL INTERIM CHAIR OF THE BOARD OF TRUSTEES

4

OBJECTIVES AND ACTIVITIES

OBJECTS

As set out in the charity's governing document, the charity's objects are specifically restricted to the following:

To advance the education of the public and relieve poverty, including but not limited to:

PURPOSE

We equip young people from low-income households to develop careers knowledge, employability skills, confidence and connections that will help them to broaden their horizons and prepare for fulfilling futures.

AIMS

Our vision is a society where every young person can unlock their potential regardless of their background or the barriers they might face. We aim to help close the opportunity gap that exists between young people from low-income households and their better-off peers.

We do this by giving the young people we work with insight into the world of work; access to connections and role models; information and guidance about education pathways and routes into work; and supporting them in developing their aspirations, confidence and motivation to succeed.

THE NEED

Household income is still the strongest predictor of a young person's future opportunities and • earning potential[1 ]

Too many young people from low-income backgrounds face barriers that hold them back. These are not due to a lack of talent or motivation, but because they do not have the same access to the guidance, networks and opportunities as their more advantaged peers. As a result, young people from low-income backgrounds are less able to make confident, informed decisions about their futures. Their pathways into fulfilling, well-paid work are limited, and they are significantly more likely to enter adulthood with lower earnings and fewer opportunities.

1 Institute for Fiscal Studies, 2022

5

3 in 4 young people who received free school meals (FSM) earn below the real Living Wage by age 25; better off young people are almost twice as likely to earn above this level[2] • The disadvantage young people face continues into adulthood, limiting long-term opportunities and earnings[3] :

Currently, Future Frontiers works in Greater London, where almost 31% of secondary school pupils are eligible for free school meals, compared to 26% across England[4] • Youth unemployment also remains higher than average in London, with the latest figures showing 15.7% of young Londoners were unemployed compared to 14.1% nationally[5] .

THE OPPORTUNITY GAP

Insight and Understanding Confidence Two thirds of young people do not recall Young people whose households rely on state meeting with a careers advisor and fewer than benefits are nearly three times more likely to 1 in 11 has visited a workplace during feel they lack life opportunities than those with secondary school.[6] professional parents.[7] Employability Skills Role Models Over half (52%) of employers do not agree Fewer than 15% of pupils entering our that young people are well-prepared to programme say they have met someone move from education to work.[8] who works in a job they are interested in.[9]

2 Office for the National Statistics, 2022, Education and Social Mobility

3 Office for National Statistics, 2022

4 Local Government Association, 2025

5 Statistica, 2025

6 Youth Employment, 2023

7 Office for National Statistics, 2023

8 Department of Education, 2025

9 Future Frontiers Internal data, 2025

6

ACTIVITIES

To address this opportunity gap, we work in partnership with schools and businesses across London to deliver programmes that combine personalised careers coaching, skills development and exposure to professional role models.

Together, we aim to equip young people from low-income households with knowledge, skills, confidence and connections that will help them to broaden their horizons and prepare for fulfilling futures.

We work closely with schools to identify pupils who will benefit most, including those eligible for pupil premium. Our skilled Programme Managers work directly with pupils and partners to facilitate every stage of the journey.

Through our programmes, young people develop:

Leading to:

Since 2013, we have supported more than 12,000 young people through our programmes.

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HOW OUR PROGRAMMES WORK

Year 10 (ages 14-15)

Young people are supported to explore their strengths, interests and aspirations, research the pathways into inspiring careers, and gain first-hand insight into the world of work through:

Year 11 (ages 15-16)

Building on their Year 10 coaching experience, this stage helps pupils embed their learning, stay on track, and turn their insights into confident, informed decisions about their next steps.

Year 12 and beyond (ages 16+)

We have begun piloting new programmes to extend our support to older students. Our new interventions include career networking events, employability skills workshops and sector insight days, where students have the opportunity to visit a workplace in a particular sector, hear from employees in different roles and participate in activities designed to give them an idea of the work undertaken in that sector.

STRATEGIC REVIEW

Over the past year, we have worked closely with Future Frontiers employees, partners and supporters to reflect on what young people most value about our work and where we are able to make the most difference, to sharpen our priorities for long-term impact.

We are now entering an exciting new chapter at Future Frontiers. Our 2025-28 strategy builds on strong foundations and sets a clear direction for the years ahead, reaffirming our mission to equip young people from low-income households with the knowledge, skills, confidence and connections to broaden their horizons and prepare for fulfilling futures.

In the coming years, we will: broaden access so that more under-resourced young people can benefit; strengthen our existing programmes; and extend our offer through new opportunities for older students. This next phase is rooted in our mission to level the playing field by tackling the barriers young people face.

8

TRYING NEW THINGS

Guided by our refreshed strategy, we have begun piloting new opportunities for older students, extending our support beyond Year 11 to address the ongoing gap in careers education and skills development for under-resourced young people.

Feedback from pupils, schools and business partners highlighted the demand for this, with many young people saying they do not feel ready for the workplace and employers eager to engage with young people beyond our coaching programme. In response, we piloted new activities including sector insight days, employability workshops and a careers networking event during the 2024-25 academic year, reaching 206 Year 12 students.

These sessions helped young people develop essential workplace skills and gain first-hand insight into different careers through interactive activities such as talks from professionals, office tours, speed networking and industry challenges.

We will continue to build on this work in the year ahead, refining our approach so that even more young people are equipped to thrive beyond their GCSEs.

Year 10 pupils and their coaches at the NSPCC, Summer 2025

9

ACHIEVEMENTS AND PERFORMANCE

YOUNG PEOPLE SUPPORTED

In the 2024/2025 academic year, we supported 2,407 young people from 85 schools across 28 London boroughs:

85% of Year 10 and 11 pupils were eligible for pupil premium; this refers to funding granted to schools to improve education outcomes for disadvantaged pupils and includes young people eligible for free school meals.

Ethnicity of programme participants

Asian or Asian British: 14% Black, Black British, Caribbean or African: 24% White: 28% Mixed or multiple ethnic groups: 8% Other ethnic group: 13% Not reported: 13%

Pupils were supported by 976 volunteers from 64 businesses, who gave over 11,000 hours of their time.

IMPACT

Our programmes equip young people from low-income households with the knowledge, skills, confidence and connections to take positive steps towards their futures. We are pleased to share key outcomes from the 2024/25 academic year, reflecting the difference our programmes are making for young people.

Empowering young people to plan for the future

10

Building career knowledge and awareness

Pupils demonstrated significant increases in their understanding of education and career pathways:

Confidence, motivation and optimism

We saw substantial improvements in pupils' confidence, motivation and optimism about their futures before and after taking part in the Future Frontiers programme:

11

PUPILS’ RESULTS AND NEXT STEPS

In August 2025, our team supported Year 11 pupils as they received their GCSE results and considered their next steps. For some, it was a moment of celebration; for others, one of uncertainty. We called those who most needed our help and ran an open helpline for pupils and parents, offering practical guidance, encouragement and reassurance so every young person felt supported and ready for what came next.

This year, we sent 7,000+ emails to pupils and their parents and carers, sharing information and advice. Our team had 550+ phone conversations with pupils and parents on GCSE Results Day and over the following week. 70% of the pupils and parents we spoke to needed guidance on their next steps.

The most requested areas of support were:

Each autumn, we reconnect with the young people who most recently completed our Year 11 programme to find out what post-16 pathways they have moved on to and how they are settling into their new courses. This year, our survey was sent to 929 programme participants, and 38% responded.

Of those who took part:

12

RESULTS FROM POST-16 PILOT ACTIVITIES

Early results from our pilot activities, including sector insight days, employability skills workshops and a careers networking event, are encouraging, with 100% of surveyed participants reporting greater confidence in communicating with new people in a professional setting.

Responses from schools and businesses have also been highly positive, with schools describing the sessions as impactful and businesses welcoming the chance to engage with pupils in a more flexible way.

IMPACT ON VOLUNTEER COACHES

Our work would not have been possible without the business partners who share our goal of creating opportunities for young people from low-income households.

Alongside making a difference for young people, Future Frontiers programmes have a positive impact on employee wellbeing and satisfaction. Of last year's volunteer coaches:

13

FINANCIAL REVIEW

Future Frontiers has continued to navigate challenging economic conditions and has made concerted efforts to stabilise and diversify income streams over the past year. We achieved broadly stable income year-on-year, and reduced expenditure, following a deficit in 2023/24.

INCOME

In 2024/25, total income was £1,400,107 (2023/24: £1,452,024) through a combination of income streams:

The charity engages in minimal public fundraising and does not hold any of its own fundraising events. However, it held successful supporter engagement events in October 2024 and June 2025.

EXPENDITURE

In 2024/25, total expenditure was £1,484,149 (2023/24: £1,715,883), including:

Efficiency savings were identified across the charity's activities resulting in a £231,734 reduction in total expenditure between 2023/24 and 2024/25.

As staff costs make up the majority of Future Frontiers’ expenditure, as part of the efficiency savings, a number of staff roles were closed during 2024/25 through non-replaced attrition and two redundancies. Where vacancies arose in the team, these were robustly reviewed to ensure that only business critical roles were replaced, and that roles recruited to were at the right level and with the highest priority responsibilities for the organisation. As a result, the monthly staff expenditure for the charity was reduced by more than 20% between October 2024 and October 2025.

RESERVES

Future Frontiers' reserves policy is to maintain a sufficient level of reserves to enable activities to be continued, taking account of potential risks and contingencies that may arise from time to time.

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The Board of Trustees has set the charity's reserves requirement as at least three but not more than six months of average recurring operating costs. This is calculated using average monthly run rate expenditure within the annual budget.

According to this policy, the charity needed to ensure general reserves of between £336,000 and £672,000 at the end of the 2024/25 financial year.

The balance sheet shows total funds of £167,861, including restricted funds of £77,880 and remaining general funds of £89,981. We recognise that the general funds balance does not currently meet our reserves policy. Rebuilding our reserves to meet our reserves policy remains a priority in order for the charity to be in a stronger position to navigate any challenges.

In order to build the sustainability of the charity and replenish reserves, the following actions have been taken:

Thanks to the efforts of Future Frontiers’ employees and trustees, and to the partners and funders who continue to support our mission, a more solid foundation has been built to enable the charity to implement our refreshed strategy and deliver impact for young people from low-income households.

RISK MANAGEMENT

The Board of Trustees is committed to ongoing risk management for the charity and its resources, including the monitoring of the charity's financial position and management accounts. Our organisational risk register is reviewed and updated at quarterly Board meetings. It identifies the most significant risks; assesses them by likelihood of occurrence and their potential impact; and indicates what actions are in hand or are necessary to mitigate the risk.

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Key risks identified in the risk register include:

Mitigations: As a charity working with young people, safeguarding is a key priority. We have a safeguarding log on which staff record any safeguarding concerns, which are regularly reviewed by trustees. All staff members and trustees have enhanced DBS checks, which are regularly updated. Staff are trained in our safeguarding policy and procedures upon joining the charity (and have annual top-up training) and must sign to confirm understanding and agreement. All volunteer coaches in regulated activity receive safeguarding training and are subject to DBS checks.

• Breach of reserves policy and inability to replenish reserves in a timely fashion. Mitigations: as outlined in the Reserves section above.

• Unable to meet business partnership targets in a challenging economic climate. Mitigations: Income targets have been set at a realistic level based on prior years' performance. We have improved visibility of business performance and pipeline for the senior leadership team and trustees, which contributes to a more robust forecasting process. The charity has diversified its offer for businesses, and continues to do so through innovation, at the same time as becoming more flexible in approach and open to different opportunities.

Mitigations: The senior leadership team has taken a proactive approach to organisational design throughout the year, right-sizing the staff team where required and recruiting only where necessary, with a strong focus on gaps in expertise within the charity. Where there have been short-term capacity or skills gaps that have presented a risk to the organisation, we have sought external support.

Other risks identified and managed include: inability to match staffing to the seasonality of our programmes; failure to demonstrate impact for young people; and risks of a cyber security or fraud incident.

GOING CONCERN

The trustees have a reasonable expectation that the charitable company has adequate resources to continue for the foreseeable future, with the projected retention and growth of our partnerships and supporters. The Board continues to adopt the going concern basis in preparing the financial statements.

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PLANS FOR FUTURE PERIODS

STRATEGY 2025 - 2028

During 2024/25, we set out a refreshed strategy for the next three years, reaffirming our mission to equip young people from low-income households with the knowledge, skills, confidence and connections to broaden their horizons and prepare for fulfilling futures.

Future Frontiers has set out five strategic objectives and five enabling objectives to keep us focussed on the right things to ensure that we are maximising the impact of our work:

Our strategic objectives are to:

Our enabling objectives are:

These objectives form the basis of all Future Frontiers' plans, individual objectives and key performance indicators for the coming year, through which we hold ourselves accountable to do the right things and to deliver for young people.

17

CONTINUOUS IMPROVEMENT FOR OUR FLAGSHIP PROGRAMME

We continue to gather feedback from young people and partners, using this insight to develop and improve the programme to ensure its effectiveness. Some planned changes to our programme for the coming year include:

TESTING NEW ACTIVITIES

Following our successful pilots of sector insight days, employability skills workshops and a careers networking event in 2024/25, we continue to develop and test new activities and programmes to meet the needs of young people from low-income households in Greater London.

A number of ideas have been prototyped and are being tested with key stakeholders for interest and funding viability. We aim to run at least two brand new activities during 2025/26, as well as continuing to build on the activities piloted during 2024/25.

We also hope to deliver some activities outside Greater London to test Future Frontiers' relevance and impact in other regions.

YOUTH VOICE

We continue to develop our plans and approach to ensure that we meaningfully engage with young people and integrate their voices and views into all aspects of Future Frontiers' work. The team is assessing the effectiveness of our current approach, which includes surveys, focus groups and pilot participation, and will continue to build on this in the year to come. We are particularly exploring how we can invite more involvement from young people into organisational governance and decision-making.

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STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

Memorandum and articles incorporated 23/12/2013, as amended by special resolution registered at Companies House on 22/04/2015.

CONSTITUTION

Future Frontiers is a registered charity (1162470) and company limited by guarantee (08825219) in England and Wales.

STATEMENT OF PUBLIC BENEFIT

Trustees have paid due regard to the guidance issued by the Charity Commission on public benefit and are satisfied that the charity complies.

ORGANISATIONAL STRUCTURE

The charity is governed by a Board of Trustees consisting of nine professionals with expertise in education, charity, public policy, business strategy and fundraising. The Board is responsible for decisions relating to charity governance and strategic direction.

There are 2 sub-committees:

The charity's senior leadership team reports to the CEO and consists of a Director of Programmes and Director of Income & Engagement. The wider management team includes a Head of Design & Innovation, Head of Partnerships and Head of Philanthropy.

BOARD OF TRUSTEES

Trustees are appointed under the terms of the Articles of Association. Regular reviews are conducted to determine skills gaps in the board, and trustee service terms are reviewed every three years. When a new trustee appointment is required, recruitment will begin through networks of the board, senior leadership team, and partnerships, and extend to formal advertisement and other channels if necessary.

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Trustee appointments are approved through an interview with the Chair of Trustees, CEO, and one other trustee. Upon appointment, the successful applicant will be invited to join the Board of Trustees.

No trustees have a beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of winding it up.

PAY AND REMUNERATION OF KEY MANAGEMENT PERSONNEL

The salary of the CEO is set by the Board of Trustees and reviewed annually.

EQUALITY, DIVERSITY AND INCLUSION

Future Frontiers is committed to recruiting and enabling a diverse workforce and proactively builds an inclusive workplace environment. This is important to effectively support young people from diverse backgrounds in London.

Since January 2023, we have had an EDI Group made up of staff members, which led focus groups, surveys and 1:1 conversations to shape the following vision statements that guide our EDI work:

Some actions we have taken to deliver upon these commitments include:

More recently, we have merged the EDI Group with the staff Wellbeing Group, to share capacity and expertise and ensure a consolidated offer for the team.

20

FUNDRAISING

In October 2024, we introduced a new role - the Director of Income & Engagement - to bring together and oversee the teams responsible for income from our charitable activities (partnerships with schools and businesses) and from fundraising. The Director of Income & Engagement is line-managed by the CEO and provides regular progress reports for the Board of Trustees.

This year, we have worked with one professional fundraiser who provided interim fundraising support. We do not work with any commercial participators to raise funds.

Future Frontiers is registered with the Fundraising Regulator and follows the Code of Fundraising Practice. We have a Volunteer Fundraising Agreement in place to support individual and corporate volunteers with fundraising in line with the Code, and provide a named point of contact for ongoing monitoring and support in the delivery of fundraising activities.

We follow and promote fundraising best practice amongst the Future Frontiers team and volunteer fundraisers to ensure that all current and potential donors, including vulnerable people, are protected from unreasonable intrusion on their privacy, unreasonably persistent approaches, or undue pressure to give.

We have not received any complaints in relation to fundraising for Future Frontiers.

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TRUSTEES' STATEMENT OF RESPONSIBILITIES

The trustees (who are also directors of Future Frontiers Ltd for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

AUDITORS

Godfrey Wilson Ltd were re-appointed as the charitable company's auditors during the year and have expressed their willingness to act in that capacity.

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DECLARATION

This report was approved by the Board of Trustees on 8 December 2025 and signed on their behalf by:

FRANCES SOUL

INTERIM CHAIR OF THE BOARD OF TRUSTEES

8 December 2025

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Independent auditors' report

To the members of

Future Frontiers Ltd

Opinion

We have audited the financial statements of Future Frontiers Ltd (the 'charity') for the year ended 30 June 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 8 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Independent auditors' report

To the members of

Future Frontiers Ltd

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the 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.

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Independent auditors' report

To the members of

Future Frontiers Ltd

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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Independent auditors' report

To the members of

Future Frontiers Ltd

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 auditor’s report.

Use of our report

This report is made solely to the charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charityʼs members those matters we are required to state to them in an auditorʼs 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 charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 8 December 2025

Robert Wilson FCA (Senior Statutory Auditor)

For and on behalf of:

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

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Future Frontiers Ltd

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 30 June 2025

Restricted Unrestricted
Note
£
£
Income from:
Donations
4
218,250
412,709
Charitable activities
5
-
763,348
Other income
-
5,800
Total income
218,250
1,181,857
Expenditure on:
Raising funds
-
164,255
Charitable activities
239,848
1,080,046
Total expenditure
7
239,848
1,244,301
8
(21,598)
(62,444)
Reconciliation of funds:
Total funds brought forward
99,478
152,425
Total funds carried forward
77,880
89,981
Net expenditure and net movement in
funds		 Restated
2025
2024
Total
Total
£
£
630,959
637,429
763,348
810,345
5,800
4,250
1,400,107
1,452,024
164,255
146,428
1,319,894
1,569,455
1,484,149
1,715,883
(84,042)
(263,859)
251,903
515,762
167,861
251,903

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 17 to the accounts.

Prior period income and expenditure have been restated to reflect the requirements of the Charities SORP (FRS 102) per note 2 to the accounts.

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Future Frontiers Ltd

Balance sheet

As at 30 June 2025

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Total assets less current liabilities
14
Net assets
16
Funds
17
Restricted funds
Unrestricted funds
General funds
Total charity funds
Creditors: amounts falling due in more than 1
year		 £
61,387
295,840
357,227
(127,208)		 2025
£
2,265
230,019
232,284
(64,423)
167,861
77,880
89,981
167,861		 Restated
2024
£
5,992
153,675
231,380
385,055
(139,144)
245,911
245,911
-
251,903
99,478
152,425
251,903

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 8 December 2025 and signed on their behalf by

Frances Soul - Chair

29

Future Frontiers Ltd

Statement of cash flows

For the year ended 30 June 2025

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Interest payable
Loss on disposal of fixed assets
Decrease in debtors
(Decrease) in creditors
Net cash used in operating activities
Cash flows from investing activities:
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities:
Cash inflows from new borrowings
Repayment of borrowing
Net cash provided by financing activities
Increase / (decrease) in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
£
(84,042)
4,719
2,803
472
92,288
(44,438)
(28,198)
(1,464)
(1,464)
100,750
(6,628)
94,122
64,460
231,380
295,840		 Restated
2024
£
(263,859)
7,072
-
-
171,484
(10,974)
(96,277)
(3,189)
(3,189)
-
-
-
(99,466)
330,846
231,380

Analysis of changes in net debt are given in note 18.

30

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

1. Accounting policies

a) Basis of preparation

Future Frontiers Ltd is a charitable company limited by guarantee registered in England and Wales. The registered office address is Canopi, 82 Tanner Street, London, England SE1 3GN.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Future Frontiers Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. The charity's free reserves, excluding long term loan liabilities, are £152,139 at 30 June 2025. The charity has a cash balance of £295,840 at year end, and unrestricted funds of £89,981. The charity has reduced expenditure from £1,715,883 in the year ended 30 June 2024, to £1,484,149 in the year ended 30 June 2025. The charity expects to make a surplus going forward. As a result, there are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of delivery of programmes is deferred until criteria for income recognition are met.

d) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

31

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

1. Accounting policies (continued)

d) Donated services and facilities (continued)

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of direct costs as follows: 2025 2024 Raising funds 11.1% 8.5% Charitable activities 88.9% 91.5%

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment 3 years straight line
Office equipment 3 years straight line

Items of equipment are capitalised where the purchase price exceeds £1,000.

32

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

1. Accounting policies (continued)

j) Debtors

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

k) Cash at bank and in hand

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

l) Creditors

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

m) Financial instruments

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

n) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

o) Operating leases

Leases which do not transfer substantially all the risks and rewards of ownership to the charity are classified as operating leases.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

p) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

33

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

2. Prior period restatement

3. Prior period comparatives: statement of financial activities (restated)

Income from:
Donations
Charitable activities
Other
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income and net movement in funds		 Restricted
£
£
312,250
325,179
-
810,345
-
4,250
312,250
1,139,774
-
146,428
351,993
1,217,462
351,993
1,363,890
(39,743)
(224,116)
Unrestricted		 2024
Total
£
637,429
810,345
4,250
1,452,024
146,428
1,569,455
1,715,883
(263,859)

34

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

4. Income from donations

Income from donations
Anonymous
British Standards Institution (BSI)
E B M Charitable Trust
Expedition Growth Capital
Goldman Sachs Gives
Hyde Park Place Estate Charity
Monday Charitable Trust
Ridge and Partners LLP
St James's Place Charitable Foundation
Swire Charitable Trust
The Considered Ask
The Drapers’ Charitable Fund
The Hiscox Foundation
The John Horseman Trust
The Progress Foundation
The Stewarts Law Foundation
Walcot Foundation
Wellington Management UK Foundation
Westminster Foundation
William Wates Memorial Trust
Woodhall Capital International Foundation
Small donations < £5k
Total income from donations		 Restricted
£
£
-
25,000
-
9,950
20,000
-
-
67,500
-
70,000
6,000
-
-
10,000
-
6,134
30,000
-
-
30,000
-
44,000
-
25,000
13,500
-
-
10,000
15,000
-
-
20,000
12,000
-
-
40,000
100,000
-
-
25,000
5,000
-
16,750
30,125
218,250
412,709
Unrestricted		 2025
Total
£
25,000
9,950
20,000
67,500
70,000
6,000
10,000
6,134
30,000
30,000
44,000
25,000
13,500
10,000
15,000
20,000
12,000
40,000
100,000
25,000
5,000
46,875
630,959

35

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

4. Income from donations (continued) Prior period comparative:

The Allen Overy Shearman Sterling Foundation
Atkins, Faithful & Gould
A&O Shearman
E B M Charitable Trust
Expedition Growth Capital
Goldman Sachs Gives
Heathrow Community Trust
Housing Pathways Trust
Individual Donations
International SOS
Ridge and Partners LLP
Sharegift
St James's Place Charitable Foundation
Talbot Underwriting
The Considered Ask
The David and Elaine Potter Foundation
The Drapers' Charitable Fund
The Forrester Family Trust
The Golden Bottle Trust
The Gosling Foundation
The Peter Stebbings Memorial Charity
The Portal Trust
The Progress Foundation
The Robert Gavron Charitable Trust
The Stewarts Foundation
Walcot Foundation
Wellington Management UK Foundation
Westminster Foundation
William Wates Memorial Trust
Small donations < £5k
Total income from donations		 2024
Restricted
Total
£
£
£
10,000
-
10,000
-
16,450
16,450
-
9,100
9,100
20,000
-
20,000
-
22,500
22,500
-
20,000
20,000
6,750
-
6,750
6,000
-
6,000
-
17,943
17,943
-
16,381
16,381
-
6,450
6,450
-
10,000
10,000
30,000
-
30,000
-
5,000
5,000
-
44,000
44,000
36,000
-
36,000
-
25,000
25,000
-
25,000
25,000
-
5,000
5,000
50,000
-
50,000
5,000
-
5,000
20,000
-
20,000
-
15,000
15,000
5,000
-
5,000
-
20,000
20,000
14,500
-
14,500
-
35,000
35,000
100,000
-
100,000
-
25,000
25,000
9,000
7,355
16,355
312,250
325,179
637,429
Unrestricted

36

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

5. Income from charitable activities

Income from charitable activities
School income
Business income
Total income from charitable activities		 Restricted
£
£
-
148,135
-
615,213
-
763,348
Unrestricted		 2025
Total
£
148,135
615,213
763,348		 2024
Total
£
185,070
625,275
810,345

All income from charitable activities in the prior year was unrestricted.

6. Government grants

The charitable company received no government grants during the current or prior period.

37

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

7. Total expenditure

Raising
funds
£
Staff costs (note 9)
101,261
Other direct costs
-
Training, wellbeing and recruitment costs
-
Fundraising costs
27,939
Premises costs
-
Travel and subsistence
-
Governance costs
-
General admin costs
-
Interest costs
-
Depreciation
-
Sub-total
129,200
Allocation of support and governance costs
35,055
Total expenditure
164,255
Total governance costs were £14,451 (2024: £11,621)
Prior period comparative (restated)
Raising
funds
£
Staff costs (note 9)
111,233
Other direct costs
-
Training, wellbeing and recruitment costs
-
Fundraising costs
5,524
Premises costs
-
Travel and subsistence
-
Consultancy
-
Governance costs
-
General admin costs
-
Depreciation
-
Sub-total
116,757
Allocation of support and governance costs
29,671
Total expenditure
146,428		 Charitable
activities
£
965,412
73,729
-
-
-
-
-
-
-
-
1,039,141
280,753
1,319,894
Charitable
activities
£
1,122,963
128,475
-
-
-
-
-
-
-
-
1,251,438
318,017
1,569,455		 Support and
governance
costs
£
205,448
-
18,498
-
49,804
11,352
14,451
8,733
2,803
4,719
315,808
(315,808)
-
Support and
governance
costs
£
198,306
-
33,237
-
78,267
8,721
423
11,621
10,041
7,072
347,688
(347,688)
-		 2025 Total
£
1,272,121
73,729
18,498
27,939
49,804
11,352
14,451
8,733
2,803
4,719
1,484,149
-
1,484,149
2024 Total
£
1,432,502
128,475
33,237
5,524
78,267
8,721
423
11,621
10,041
7,072
1,715,883
-
1,715,883

38

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

8. Net movement in funds

This is stated after charging:

Depreciation
Loss on disposal of fixed assets
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration (excluding VAT):
Statutory audit
Under-provision for prior year statutory audit		 2025
£
4,719
472
Nil
543
8,000
200		 2024
£
7,072
-
Nil
111
7,600
-

One trustee received reimbursement of travel expenses during the year worth £248 (2024: £111).

In common with other charities of our size and nature we use our auditors to assist with the preparation of the financial statements and to prepare and submit returns to the tax authorities.

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Employees earning more than £60,000 during the year:
Between £60,000 and £70,000
Between £70,000 and £80,000
Between £80,000 and £90,000		 2025
£
1,124,403
117,987
29,731
1,272,121
2025
No.
2
-
-		 2024
£
1,282,677
117,573
32,252
1,432,502
2024
No.
-
-
1

The key management personnel of the charitable company comprise the Trustees and the Chief Executive Officer. The total employee benefits of the key management personnel were £115,879 (2024: £92,774).

Average head count 2025
No.
27		 2024
No.
35

39

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11. Tangible fixed assets

Cost
At 1 July 2024
Additions in year
Disposals
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
On disposal
At 30 June 2025
Net book value
At 30 June 2025
At 30 June 2024
12. Debtors
Trade debtors
Prepayments
Accrued income
Other debtors		 £
360
-
-
360
360
-
-
360
-
-
Office
equipment		 £
25,243
1,464
(576)
26,131
19,251
4,719
(104)
23,866
2,265
5,992
2025
£
21,165
22,326
9,952
7,944
61,387
Computer
equipment		 Total
£
25,603
1,464
(576)
26,491
19,611
4,719
(104)
24,226
2,265
5,992
Restated
2024
£
86,852
23,454
35,425
7,944
153,675

Other debtors have been restated in line with note 2.

40

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

13. Creditors : amounts due within 1 year

Creditors : amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Loan liabilities
Other creditors
Deferred income (see note 15)		 2025
£
4,586
39,140
27,433
32,502
3,397
20,150
127,208		 2024
£
18,370
43,181
26,992
-
251
50,350
139,144

14. Creditors: amounts due in more than 1 year

Loan liabilities 2025
£
64,423		 2024
£
-

During the year ended 30 June 2025, Future Frontiers Ltd agreed loan finance for £100,750 from CAF. It is repayable over three years at an interest rate of 2.5% + base rate.

15. Deferred income

At 1 July
Deferred during the year
Released during the year
At 30 June		 2025
£
50,350
20,150
(50,350)
20,150		 2024
£
41,175
50,350
(41,175)
50,350

Deferred income consists of income received in advance of school and business programme delivery.

41

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

16. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Non current liabilities
Net assets at 30 June 2025
Prior period comparative (restated)
Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2024		 £
-
77,880
-
-
77,880
£
-
99,478
-
99,478
Restricted
funds
Restricted
funds		 £
2,265
279,347
(127,208)
(64,423)
89,981
£
5,992
285,577
(139,144)
152,425
General
funds
General
funds		 Total
funds
£
2,265
357,227
(127,208)
(64,423)
167,861
Total
funds
£
5,992
385,055
(139,144)
251,903

42

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

17. Movements in funds

Movements in funds
At 1 July
2024
£
Restricted funds
10,000
Anonymous
5,778
E B M Charitable Trust
-
Heathrow Community Trust
-
Housing Pathways Trust
6,000
Hyde Park Place Estate Charity
-
St James's Place Charitable Foundation
25,000
Tallow Chandlers’ Benevolent Fund
-
The David and Elaine Potter Foundation
-
The Eloise and Katie Memorial Trust
-
-
The Hiscox Foundation
-
The Progress Foundation
-
-
Walcot Foundation
-
Westminster Foundation
52,700
Woodhall Capital International Foundation
-
Total restricted funds
99,478
Unrestricted funds
General funds
152,425
Total unrestricted funds
152,425
Total funds
251,903
The Allen Overy Shearman Sterling
Foundation
The Give for Good Russell Family
Charitable Trust
The Worshipful Company Of World Traders
Charitable Trust		 Income
£
-
-
20,000
750
-
6,000
30,000
3,000
4,000
3,000
3,000
13,500
15,000
3,000
12,000
100,000
5,000
218,250
1,181,857
1,181,857
1,400,107		 £
(10,000)
(5,778)
(20,000)
(750)
(6,000)
(6,000)
(30,000)
(3,000)
(4,000)
(3,000)
(3,000)
(13,500)
(15,000)
(3,000)
(12,000)
(102,320)
(2,500)
(239,848)
(1,244,301)
(1,244,301)
(1,484,149)
Expenditure		 £
-
-
-
-
-
-
25,000
-
-
-
-
-
-
-
-
50,380
2,500
At 30 June
2025
77,880
89,981
89,981
167,861

Purposes of restricted funds

The Allen Overy Shearman Sterling Foundation

Towards supporting young people in Year 11 from Hackney and Tower Hamlets to take part in the Future Frontiers programme in 2024/25.

Anonymous

Towards technology development project.

E B M Charitable Trust

Towards supporting 120 Year 11 pupils to take part in the Future Frontiers programme in 2024/25.

The David and Elaine Potter Foundation

Towards core costs.

43

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

17. Movements in funds (continued) Purposes of restricted funds Housing Pathways Trust Towards supporting young people in Year 10 from Ealing to take part in the Future Frontiers programme in 2024/25. Hyde Park Place Estate Charity Towards supporting young people in Year 10 and Year 11 from Westminster to take part in the Future Frontiers programme in 2024/25.

St James's Place Charitable Foundation

Towards the salary of a Transition Manager to deliver the Future Frontiers programme in 2024/25 and 2025/26.

The Hiscox Foundation

Towards supporting 90 Year 10 pupils to take part in the Future Frontiers programme in 2024/25.

The Progress Foundation

Towards the launch of the Coaching Community.

Walcot Foundation Towards supporting young people in Year 10 and Year 11 from Lambeth to take part in the Future Frontiers programme in 2024/25.

Westminster Foundation Towards supporting young people in Year 10 and Year 11 from Westminster to take part in the Future Frontiers programme in 2024/25 and 2025/26. Woodhall Capital International Foundation Towards supporting young people in Year 10 to take part in the Future Frontiers programme in 2024/25.

Heathrow Community Trust Towards supporting young people in Year 10 from West London to take part in the Future Frontiers programme.

Tallow Chandlers’ Benevolent Fund Towards supporting young people in Year 10 to take part in the Future Frontiers programme in 2024/25. The Eloise and Katie Memorial Trust Towards supporting young people in Year 10 to take part in the Future Frontiers programme in 2024/25. The Give for Good Russell Family Towards supporting 15 young people to take part in Charitable Trust the Future Frontiers programme in 2024/25.

The Worshipful Company Of World Traders Towards supporting young people in Year 11 to take Charitable Trust part in the Future Frontiers programme in 2024/25.

44

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

17. Movements in funds (continued) Prior period comparative (restated)

Restricted funds
Anonymous
E B M Charitable Trust
Ford Britain Trust
Heathrow Community Trust
Housing Pathways Trust
Hyde Park Place Estate Charity
Salters' Charitable Foundation
St James's Place Charitable Foundation
The David and Elaine Potter Foundation
The Gosling Foundation
The Peter Stebbings Memorial Charity
The Portal Trust
The Robert Gavron Charitable Trust
Walcot Foundation
Westminster Foundation
Small funds < £5k
Total restricted funds
General funds
Total unrestricted funds
Total funds
The Allen Overy Shearman Sterling
Foundation
Wimbledon Foundation Community Fund at
The London Community Foundation
Unrestricted funds		 At 1 July
2023
£
-
87,971
-
-
-
-
2,500
10,000
25,000
-
-
-
-
-
-
5,000
6,750
2,000
139,221
376,541
376,541
515,762
 Income
£
10,000
-
20,000
1,000
6,750
6,000
-
-
30,000
36,000
50,000
5,000
20,000
5,000
14,500
100,000
-
8,000
312,250
1,139,774
1,139,774
1,452,024		 £
-
(82,193)
(20,000)
(1,000)
(6,750)
-
(2,500)
(10,000)
(30,000)
(36,000)
(50,000)
(5,000)
(20,000)
(5,000)
(14,500)
(52,300)
(6,750)
(10,000)
(351,993)
(1,363,890)
(1,363,890)
(1,715,883)
Expenditure		 £
10,000
5,778
-
-
-
6,000
-
-
25,000
-
-
-
-
-
-
52,700
-
-
-
At 30 June
2024
99,478
152,425
152,425
251,903

45

Future Frontiers Ltd

Notes to the financial statements

For the year ended 30 June 2025

18. Analysis of net debt

Cash
Loans falling due within 1 year
Loans falling due after 1 year
Total		 At 1 July
2024
231,380
-
-
231,380		 Cash flows
64,460
6,628
-
71,088		 New bank
loans
-
(14,461)
(86,289)
(100,750)		 -
(24,669)
21,866
(2,803)
Non-cash
movements		 295,840
At 30 June
2025
(32,502)
(64,423)
198,915

19. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2025
£
13,062
-
13,062		 2024
£
8,524
-
8,524

20. Post balance sheet events

As at the signing date, the charity is subject to an outstanding employment tribunal claim. The matter remains ongoing and is being contested. Whilst no final determination has been made, it is possible that the charity may be required to pay compensation.

The potential liability is not able to be reliably measured at this stage and the outcome remains uncertain. The charity's insurance provider has been notified, and is expected to cover associated costs. Therefore, no provision has been made in the financial statements.

The trustees continue to monitor the situation closely and will account for any liability in future periods should it become probable and measurable.

21. Related party transactions

There were no related party transactions during the current or prior period.

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