Phillips Education Foundation Ltd Charity No. 1163784 Company No. l]8977155 Trustees. Report and Unaudited AccOts 30 April 2025
Phillips Education Foundation Ltd Contents Pages Trustees, Annual Report Independent Examiner'5 Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash flows Notes to the Accounts Detailed Statement of Finanaal Activtties 9tolO Page I
Phllllp5 Educatlon Foundation Ltd Trustees Annual Report The trustees. who are a150 dirertors of the charity for the purposes of the Cornpanies Act 2006, present their report with the unaudited financial statements of the charityfor the year ended 30 April 2025. REFERENCE AND ADMINISFRATIVE DETAILS Company No. 08977155 Charity No. 1163784 Principal Office Barkham Manor Barkham Lane Piltdown East Sussex Règistered Office l The Courtyard Poundfield Road Chalvington East Sussex BN27 3TD Dirertor5 and Trustees The Directors of the charitable company are its Tnjstees for the purposes of charity law. The tollowing Direttor5 and Trustees served during the year: G.H. Phillips HJ. Phillips Key Management Personnel Chair Gordon Phillips Accountants Handley Roberts LLP l The Courtyard Chalvin8ton Hailsham E3St Sussex BN27 3YD Bankers Barclays Bank 08JEcnvES AND ACTIVITIES For the benefit & education of the public to carry out research into the edation of persons with reading difficulties Page 2
Phillips Education Foundation Ltd Trustees Annual Report The Trustees are responsible for keeping proper accounting records thatdixlose with reasonable accltracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Art 26. The Trustees are also responsible for safeguarding the assets of the charity artrd hence taking reasonable steps for the prevention and detecDon of fraud and other IrgUI3r1tie5. The above report has been prepared in accordan wtth the provisions 3pplKable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 1021- Signed on behalf of the board G.H. Phillips Trustee 27 January 2026 Page 3
Phillips Education Foundation Ltd Independent Examiners Report Independent Examlnerfs Report to the trustees of Phillips Education R•urxlation Ltd I report to the charity trustees on my examination of the finanthal statements of Phillips Education Foundation Ltd for the year ended 30 April 2025. Responsibilities and bays af report As the charity's trustees of the company land also its directors for the purwses of cornpany13wl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Art. Having satisfied myself that the financial statements of the Chartty are notrequired to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I rep( in respect of rny examination of vour charity's financial statements as carried out under section 145 of the Chartties Act 20111'the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under sertion 145151 Ibl of the 2011 Act. Independent examiner's statement As the charity's gross income exceeded £250,0 your examiner must iE a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the exarnination because l am a member of ICEAW, which is one of the listed bodies. I have completed my examination. I can confirm that no material matters have Come to my attention in conrbection with the examination &ving me cause to believe= accounting records were not kept in accordance wtth settion 386 cl the 2(M)6 Act- or the financial statements do not accord with those records.. or the financial statements do not comply with the accounting requireynents under section 396 of the 2LX)6 Act other than any requirement that the financial statements give a 'true and fair. view which is not a matter considered a5 Part of an independent examination- or the financial statements have not been prepared in accordance the methods and principles of the Statement of Recommended Practice for accounttng and reportingby charitie$ applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard app5i£able in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connecrion with the examination to which attention should be drawn in this report rn order to enable a proper understanding of the financial statements to be reached. Dougla5 Shanks ICEA W Handley Roberts LLP l The Courtyard Chalvington Hailsham East Su55ex BN27 3YD 27January 2026 Page 4
PhiNips Education Foundation Ltd Statement of financial Activities forthe year ended 30 April 2025 Unrestrirted funds Total funds Total funds 2025 2025 2024 Notes In¢ome and endowments from: Donation5 and leEacies Investments 752.Q 752.0 1,145.5LXI Tutal 752.( 752.CK)O 1,145.503 Expen(fiture on". CFiaritable activttie5 Other 574,488 574,488 150 683,944 598 Total 574.638 574,638 684,542 Net gains on investments Net Income 177.362 171362 460,961 Transfers between funds Net income before other gains/llosses) 177.362 177,362 460,961 Other gains and105ses Net movement in funds 177.362 177.362 460.961 Reconciliation of fiJnd5: Total funds brought forward 535,258 535,258 74.297 Total funds Carried fonvard 712.620 712.620 535,258 Page 5
Phillip5 Educatlon Foundation Ltd Summary Income and Expenditure Account for the year ended 30 April 2025 2025 2024 Income 752,(YJO 1,145,500 Interest and investment income Gr05s income for the year 752.(lJO 1,145.503 Expenditure 574,638 684.542 Total expenditure forthe year Net income befo tax for the year 574.638 684,542 177,362 460,961 Net income for the year 177.362 460.961 Page 6
Phillip5 Education Foundation Ltd Balance Sheet at 30 April 2025 Company No. 0897715S Note5 2025 2024 Current assets Debtors Cash at bank and in hand Iw,Th)o 612,620 712.620 712,620 535,258 535.258 535,258 Net current assets Total assets less current liabillties 712.620 535.258 Net assets excluding pensson asset or liabli ity 712,620 535,258 Total net a$5ets 712,620 535,258 The funds of the charity Restrirted funds Unrestricted funds General funds io io 712,620 535,258 712,620 535,258 Reserves io Total fund5 712.620 535,258 These accounts have been prepared in accordance with the special pr(vsions of Part 15 of the Companies Act 2(K)6 relating to small companies. For the year ended 30 April 2025 the company was entided to exemption under section 477 ot the Companies Act 2006 relating to sm311 companies. The mernbers have not required the company to obtain an audit in accordance wf(h sertion 476 of the Companies Act 2006. Tho direttors acknowledge their responsibilities for complying with the requirements of the Companies Art 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 27 January 2026 And signed on its behalf by-. G.H. Phillips Trustee 27January 2026 Page 7
Phllllps Education Foundation Ltd Statement of Cash Ilows for the year ended 30 April 2025 2025 2024 Cash flovts from operating activltles Net income per Statement of Financial Artivities 177.362 460,961 Adjustments for: Increase in trade and other receivables iioj.oc()I Net cash proTrllded by operating artivities 77,362 460,958 Net cash from investing activities Net cash from financing activities Net increase in cash and cash equivalents 77.362 460,961 Cash and cash equivalents at the beginning of the year 535,258 74,298 Cash and cash equtvalents at the end of the year 612,620 535,259 Components of cash and cash equivalents Cash and bank balances 612,620 535,258 612,620 535,258 Page 8
Phillips Education Foundation Ltd Notes to the Accounts *orthe year ended 30 April 2025 l Accounting policie5 Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20151- (Charities SORP IFRS 102}l. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Art 21))6. Change in basis of accounting <yr to previous accounts There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previousyear& Fund accounting Unrestricted funds These are available for use at the discretion of the trustee5 in furtherance of the general objects of the charity. These are unrestrirted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Oesignated funds Revaluation funds Restricted funds Income Recognition of Income Income is included in the Statement of Financial Aciivities ISOFAI when the charity becomes entitled to. and virtually certain to receive, the income and the amount of the income Can be measured with sufficient reliability- Income with related Where income has related expenditure the iome and related expenditure is expenditure reported gross in the SOFA. Donations and legacie5 Voluntary income received by vday of grants. donations and gifts is included in the the SOFA when receivable and only when the (harity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA atthe same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and tscilities where the benefit to the Charity is reason3bty quantifiable. measurable and material. Volunteer help The value of any volunteer help received is notincluded in the accounts. Investment income This 15 Éncluded in the accounts when receivable. Gains/llosses} on This includes any gain or loss resulting from revaluing investments to market revaluation of fixed value at the end of the year. assets Gains/llossesl on Investment assets This includes any gain or loss on the Sale of investrnènts. Page 9
Phillips Education Foundation Ltd Note5 to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an ac¢wals basis. Expenditure includes anyVAT which cannot be fully recovered. and is reportedas part of the expenditu to which rt relates. Expenditure on These comprise the costs associated with attrartwig voluntary Income, fundraising raising fund5 trading costs and investmellt rnanagement Costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its actwities charitable activttres and services in the furtherance of its objects. irKluding the making of grants and governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs aSSlated with meeting the constitutional and statutory requirements of the Charity. induding any audittindependent examination fees. costs linked to the strategic management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance cost5 Other expenditure Taxation The charity is exempt from corporation tax on its charitable activities. Trade and other debtors Trade and other debtors are recognised at the settlement amount d after any trade discount offered. Prepayments are valued at the amount prepaid net of any trdde d1*Ots due. Cash and ¢ash equivalents Cash and cash equivalents comprise cash at bank and on hand. derThand deposits with banks and other short-term highly liquid investments with original maturities of three rnonths or less and bank overdrafts_ In the statement of financial position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows. cash and cash equtvalents are shown net of bank overdrafts that are repayable on demand and forni an integral partol the iompany's cash management. Trade and other treditors Short term creditor5 are measured at the transaction price. Other credrtors and provistons are recognised where the charity has a present obligation resulting from a past event that will probablv result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditor5 and provisions are normally fecognised 3t thesr settlernent amount after allowing for any trade discounts due. 2 Company status The company is a private company limtted by guarantee and cOnSeqtIY does not have share capital. Page 10
Phillips Education Foundation Ltd Notes to the Accounts 3 Ststement of Financial Artivities- prior year Unrestrkted fvnds Totsl funds 2024 2024 Income and endowments from: Donations and leBacies Investments 1.145,5LKJ 1.145,500 Totsl 1,145,503 1,145,503 Expenditure on". Chaiitable activities 683,944 598 683,944 598 Other Total 684,542 684,542 Net incgme 460,961 460,961 Net income before other gains/l1055e5} Othergains and10s5es: Net movement in funds 460.961 460,961 460,961 460.961 Reconciliation of funds: Total funds brought forward Totsl funds carried fonvard 74,298 74,298 535,259 535,259 4 Income from donations and legacies Unrestricted Total Total 2025 2024 GDrdon & Hilary Phillips 752,(K)O 752.000 752,(XKI 752.(X)O 1,145,5Ci7 1,145.500 5 Income from investments Total Total 2025 2024 Page 11
Phillips Educatlon Foundation Ltd Notes to the Accounts 6 Expenditure on charitable actlvlties Unrestrlrted Totsl Total 2025 2024 Expenditure on choritoble octivitie5 Grants made 574.488 574,488 683,944 Governonce costs 574,488 574,488 683,944 7 Analysi5 of grants Grants to Activity or programme InStitlOn5 Total Total 2025 2024 Roy81 Marsden Lighthows Award Scheme 365,000 146,734 144,6 27,610 683,944 88.752 1,450 444,286 574.488 88,752 1,450 444,286 574,488 Others Grant funding of adivibes Activity or programme Total 2025 Totsl £024 Royal Marsden Lighfflows Award Scheme 365,000 146.734 144,600 27,610 683,944 88,752 1,450 444.286 88.752 1.450 444.286 574,488 Others 574.488 8 Other expenditure Unrestritted Totsl Totsl 2025 2024 Gene¥al administrative costs Legal and professional costs 116 116 124 34 474 150 150 9 Debtors 2025 2024 Other debtors i(o,c¥JJ i).000 Page 12
Phillips Education Foundation Ltd Notes to the Accounts 10 Movement in fvnds In¢oming resour (induding Atlmay other 2024 gainsllosses) Resources At 30 Aprll expended 2025 Restricted funds". Unrestrirted funds: General funds 535.258 752.(K)O 1574,6381 712,620 Total funds 11 Analysis of net assets between funds 535,258 752.(IXI 1574,6381 712,620 Unrestrirted funds Total Net current assets 712,620 712,620 712,620 712,620 12 Reconaliation of net debt Atlmay 2024 At 30 April 2025 Cash flows Cash and cash equivalents 535,258 535.258 77,362 77,362 612,620 612,620 Net debt 535.258 77,362 612,620 13 Related party disclosures Controlling porty P3ge 13
Phillips Education Foundation Ltd Detailed Statement of Financial Artlvities lorthe year ended 30 April 2025 Vnrestricted funds Total funds Total funds 2025 2025 2024 Income and endowments from: Donations and leEacies Gordon & Hilary Phillips 752,(KXI 75IOCKI 752,000 752,000 1,145.5CQ 1,145,5 Investments Totsl income and endowments 752.lnl 752.¢J)O 1,145,503 Expenditure on- Charitable activities Grants made 574,488 574,488 574.488 574,488 683,944 683,944 Total ol expenditure on charitable activities 574,488 574,488 683.944 Gerberal administrative costs. including depreciation and amortisation Bank charges 116 116 116 124 116 124 Legal and professional costs Audit/lndependent examination fees 474 474 Total of expenditure of other costs Total expenditure Net gains on investments 150 598 574,638 574,638 684,542 177,362 177,362 460,961 Net income Net income before other gainsl{lossesl Other Gains 177,362 177.362 460,961 Net movement in fund5 177,362 177.362 460,961 Reconciliation of funds: Total funds brought forward 535,258 535.258 74,297 Total funds carried forward 712,620 712.620 535,258 Page 14