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2025-08-31-accounts

2025 Annual Report

Annual Report & Financial Statements for the year ended 31 August 2025

Company number: 09750864 Registered charity number: 1163932

Contents

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Reference & Administrative Details 3
Trustees’ Report 4-26
Independent Auditor’s Report 27-29
Statement of Financial Activities 30
Balance Sheet 31
Statement of Cash Flows 32
Notes to the Financial Statements 33-47
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Unlocking Potential Annual Report 2025

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Reference & Administrative Details

For the year ended 31 August 2025

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Status The organisation is a charitable company limited by guarantee, incorporated
on 26 August 2015 and registered as a charity
on 12 October 2015.
Governing The company was established under Memorandum and
Articles which established the objects and powers of the
Document
charitable company.
Company Number 09750864
Charity Number 1163932
Registered & Canopi, Unit A, Arc House
Operating Office 82 Tanner Street London, SE1 3GN
Trustees Stuart Roden Chair
Brian Linden Vice – Chair
William de Winton Treasurer
Thomas Bible
Tatiana Amory
Jonathan Clark Safeguarding Lead
Carrie Herbert
Andrew Cook
Ntolyanna Mordochai
Charlotte Warshaw Appointed 1 July 2025
Chief Executive Cassie Oakeshott
Current Leadership Cassie Oakeshott CEO & Clinical Director
Team Amelia Maling Head of Fundraising
Helen Twigg Director of Safeguarding & Business Development
Lucy Freeman Director of the Schools Programme
Head of HR
Sasha Chipperfield
Tracy True Finance & Resources Director
Auditors HaysMac LLP
Chartered accountants & registered auditors
10 Queen Street Place, London, EC4R 1AG
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Trustees’ Report

For the year ended 31 August 2025

The Trustees present their report and the audited financial statements for the year ended 31 August 2025.

Unlocking Potential supports schools and communities to ensure no child or family struggles alone with their social, emotional and mental health (SEMH) needs. We provide flexible, over-time, multi-disciplinary therapeutic support that meets children and families where they are, and enables them to feel safe, understood and the best version of themselves.

The scale of the social and mental health challenges affecting children and families in the UK is greater than ever before and our services are a response to the unprecedented demand and unmet need for therapeutic support.

Marking our 10th anniversary, we took the opportunity to invest in forward planning and develop a strategy for the years ahead. Supported by key funders, this positions the charity to deepen our work with families, strengthen cross-sector collaboration and continue developing a resilient, agile organisation.

Objectives and activities

Our Vision

Everyone feels supported, equipped and able to achieve their potential.

Our Mission

Our mission is to provide tailored therapeutic support to more children, while training the practitioners of the future to build holistic, resilient social systems that equip children and their families with the confidence, tools, and skills to thrive at school and within their communities.

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During the year we brought this vision to life with…

Our Schools Programme enables us to deliver multidisciplinary therapeutic and wrap-around support (including creative arts and play therapies, speech and language therapy and occupational therapy) to children with adverse childhood experiences (ACEs), while providing advice for the whole school community and parents/carers.

Our Parenting Programme and Family Support Programme enables parents and families to develop the skills and understanding they need to support their children and thrive.

AM, Parent

We are committed to supporting the practitioners of the future, and partner with leading universities and training organisations to provide supportive training placements to enable trainee therapists to succeed.

Running our own specialist independent school for children with SEMH needs. The Corner School offers alternative education pathways for children in crisis, including those excluded from or unable to attend mainstream schools.

Transfer of The Corner School to The Mulberry Bush Organisation

During the year under review, UP was the proprietor of The Corner School, which has operated as a distinct programme under UP’s ownership since opening in 2018.

Following a positive Ofsted inspection in November 2024, in which the school was awarded a ‘Good’ rating in all areas, the Trustees undertook a strategic review of the school’s long-term future. After careful consideration of what would be in the best interests of the children, their parents and carers, and staff, the Trustees made the decision to transfer the school to The Mulberry Bush Organisation, a charity whose values and therapeutic approach closely align with those of UP.

The transfer completed on 1 February 2026, after the balance sheet date.

The Trustees are confident that this decision secures the continued delivery of high-quality therapeutic education for pupils while enabling UP to focus on its core charitable strategy and long-term sustainability. The transfer was undertaken following appropriate due diligence and governance processes to ensure continuity of provision and the safeguarding of beneficiaries.

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The Schools Programme

Through our Schools Programme, UP delivers a tiered programme of specialist, targeted and universal early interventions designed to meet the specific needs of children and young people, supporting their social, emotional, and mental health (SEMH), as well as their communication and daily living skills. In 2024-25, we supported 3,000 children aged 4-18, in 26 partner schools across 10 London boroughs.

1:1 Psychotherapy – Creative Arts and Play Therapies

Skills and Environment – Occupational Therapy (OT)

Individual Talk Time Sessions (6xTT)

Communication – Speech and Language Therapy (SaLT)

Speak UP & Check-ins

Wellbeing Groups

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Our Tiered Model

Our approach includes a flexible tiered model of child-centred support.

Our tiered model of support strengthens the mental health and wellbeing of whole school communities, including children, teaching and support staff, and families and carers.

Whole School (Universal) Support

At a universal level, we worked with schools to lay the foundations for emotionally healthy and resilient environments. This included:

This approach aimed to embed a sustainable culture of wellbeing, contributing to calmer classroom environments, increased staff confidence, and a shared language and understanding around emotional health.

Targeted Support

For children and staff requiring additional support, we provided early intervention through:

This early help model supported the timely identification of emerging needs, reduced escalation, and strengthened connections between families and appropriate services.

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Specialist Support

For children with a higher number of adverse childhood experiences and children presenting with more complex needs, we delivered specialist 1:1 therapy and multi-disciplinary interventions, including:

These interventions were designed to support measurable improvements in emotional regulation, communication, and engagement in learning.

Outcomes

Through this tiered model, we observed:

Pupils better able to regulate emotions and engage more fully in learning.

Improvements in attendance and attainment, strengthened safeguarding practices, and families feeling more confident and supported.

Teaching and support staff reporting increased confidence and a stronger sense of professional support.

School communities better equipped to create environments in which children and families can thrive.

Headteacher, London Primary School

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Our Parenting Programme

During the year, UP delivered its Parenting Programme, providing parents and carers with dedicated time and space to reflect on their approach to supporting the children in their lives.

The programme aims to:

Through these sessions, families are better equipped to support their children’s emotional, social, and educational development, contributing to stronger, more resilient home and school communities.

“ providing parents and carers with dedicated time and space to reflect on their approach to supporting the children in their lives.”

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Trainee Placements

UP provides a distinctive multi-disciplinary placement model, supporting the development of the next generation of SEMH professionals, including Speech and Language Therapists (SaLTs), Occupational Therapists (OTs), and Child Therapists.

Our placements are in-depth and rigorous, offering hands-on experience in real-world settings while preparing clinicians for the challenges of working in SEMH education. Trainees receive expert supervision, high safeguarding standards, and structured support for clinical practice throughout their placement.

Our Training Approach

Through this approach, we aim to equip teachers and professionals with the knowledge and skills to create more supportive school environments. In doing so, UP seeks to influence long-term systemic change across the SEMH sector, enhancing outcomes for children and families beyond the immediate classroom.

Psychotherapy Placement Student

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Development of the Family Support Programme Pilot

During the year, UP secured significant multi-year funding from The Rausing Trust enabling us to establish a three-year pilot for our new Family Support Programme in the London borough of Wandsworth. Planning and development work commenced in the reporting period, with delivery beginning in September following the year end.

This programme represents an important strategic development for the charity. We recognise that children’s outcomes are strengthened, sustained and magnified when parents and carers are also appropriately supported.

The Family Support Service provides practical and emotional support to parents and carers of primary-aged children. The service helps families build confidence, reduce stress and improve day-to-day routines and relationships.

Who the service is for

The pilot supports families living in Wandsworth who may benefit from support with:

What we offer

What we do not provide

The family support service does not provide:

The Trustees view this programme as a significant step in extending UP’s therapeutic model beyond the classroom and into the wider family and community context.

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The Corner School

During the year, UP operated The Corner School, a Special Independent Primary School based in Brent for children with social, emotional and mental health (SEMH) needs who had been excluded from mainstream education or were at risk of exclusion.

The school’s mission was to provide specialist therapeutic education to help children re-engage with their learning, rebuild confidence and move toward positive life outcomes.

All children attending the Corner School had an Educational Health Care Plan (EHCP) and presented complex social, emotional and mental health challenges that had significantly impacted their previous educational experiences. Many had been excluded from mainstream education or were at imminent risk of exclusion.

During the year, the school provided specialist support to 15 children. Through a highly personalised approach, pupils were supported to re-engage with education, explore their strengths and unlock their potential.

At the Corner School, we provided:

Small class sizes with high staff-to-student ratios (1:1 or 2:1) to enable individualised support

A trauma-informed and sensory-aware approach to learning

A curriculum tailored to meet the unique needs of each child through bespoke educational programmes and lesson plans

A tri-part therapeutic model that integrates speech and language therapy, occupational therapy, and creative arts therapy into daily learning

As noted elsewhere in this report, The Corner School transferred to The Mulberry Bush Organisation on 1 February 2026, after the year end.

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Our partnerships and collaborations

We believe that lasting change is only possible through collaboration, and we recognise that we cannot fulfil our vision alone. As a charity, we deeply value our partnerships, which are essential to amplifying our impact and extending the reach of our work.

Our university partners support the development of future practitioners and include:

The Tavistock, Terapia, Goldsmiths, Birkbeck, Cambridge University, Oxford Brookes, Institute of Arts and Therapy in Education, Centre for Counselling and Psychotherapy Education, City Saint Georges’ University, University of Essex, University of Roehampton, University of East London, Brunel University of London, University of Brighton.

We also worked in partnership with London local authorities to ensure robust safeguarding, support and advocacy for children and families.

Our local authority partners include Brent, Camden, Ealing, Hackney, Hammersmith & Fulham, Harrow, Havering, Hillingdon, Lambeth, Lewisham, Southwark, Tower Hamlets, Wandsworth and Westminster.

In addition, we partner with charities that enhance and amplify our work by offering additional enrichment opportunities and support for children and young people. Key partners in the year included: AIIChild, The Kids Network, Free to Be Kids, TimeGivers and We are Beyond.

We are also proud members of the Fair Education Alliance, contributing to wider sector collaboration and learning.

Public Benefit

The Trustees have had regard to the Charity Commission’s guidance on public benefit when reviewing the Charity’s aims and activities. The Trustees confirm that the Charity’s activities are carried out for the public benefit.

The Charity works to support a defined section of the public — children and young people experiencing social, emotional and mental health difficulties.

Our activities are designed to reduce these challenges by providing therapeutic, educational and family support that helps children and young people improve their wellbeing, engage more positively with learning and relationships, and achieve better long-term outcomes.

This work is fully aligned with the Charity’s charitable objectives.

‘’ Our partnership with UP has been a great success – they enhance our work by bringing their professional skills and expertise to our services – it’s a relationship that benefits everyone.’’

A Partner

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Achievements and performance

Our strategy places a strong emphasis on understanding and evidencing our impact. Data and feedback guide how we refine our work, ensuring that we can reach more children, families and schools with interventions that genuinely make a difference.

We measure progress through:

Child Outcomes Research Consortium (CORC) Best Practice Framework

We use the CORC Best Practice Framework, a set of standards, tools, and guidance for organisations supporting children and young people’s mental health, to ensure that our outcome and feedback data is robust, reliable, and consistent.

Goal-Based Outcomes (GBOs)

Children, parents, and teachers set and track goals. Children’s goals often differ from adults’, providing valuable insight into what matters most to them. Goals are grouped into three representative areas – self, relationships, and learning – reflecting resilience, emotional regulation, mental health and wellbeing, and engagement in learning.

Child Outcome Rating Scale (CORS)

CORS measures children’s wellbeing across key life areas and is completed every six sessions to track progress over time.

Child Session Rating Scale (CSRS)

CSRS provides real-time feedback on each session, enabling practitioners to adapt their approach immediately based on the child’s experience.

ImpactEd

ImpactEd provide specialist advice and guidance on evaluating impact in education and they are supporting us capture data on attendance, exclusions, school engagement and children’s wellbeing and survey and focus group data from teachers on the impact of our interventions.

Our full impact report for the year may be found here:

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Schools Programme

Who we work with

In the year we enabled over 3,000 children and young people, in 24 primary and two secondary schools across ten London Boroughs to access bespoke, multi-disciplinary therapeutic and mental health support in the environments where they live and learn.

Of the children we work with in therapy & 6xTT:

61% are from a global majority community

66%

of children are medium or high risk[*]

36% of children live in a single parent family

20%

of children are affected by domestic abuse

54%

are eligible for pupil premium

82%

of children (that we know of) have parents struggling with addiction

17%

of children have parents who are struggling with their mental health

“ The work carried out through UP has become an integral part of our school community. UP provides children with a safe, nurturing space to process and express their emotions, helping them thrive both emotionally and academically. For our families, it offers a vital support system that promotes stronger relationships and better outcomes both at home and in school.”

Headteacher of a Partner School in Brent

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In the year we...

partnered with

26

schools

held

7,855

Speak UP and Check-in, self-referral sessions

supported 771

children with a 1:1 intervention

delivered

759

6xTalkTime, short-term targeted intervention sessions

provided

4,910

sessions of 1:1 psychotherapy

provided

1,122

Occupational Therapy (OT) sessions

delivered

788

Speech and Language Therapy (SaLT) sessions

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The difference our work made...

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Self Relationships Learning
Improved emotional Improved relationships Improved readiness
wellbeing and resilience and positive social skills to learn and engagement
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1:1 Child 95% child set goals 98% child set goals **91% ** child set goals
Psychotherapy 94% parent set goals 92% parent set goals 83% parent set goals
92% teacher set goals 92% teacher set goals 92% teacher set goals
6xTT (shorter 94% child set goals 91% child set goals 100% child set goals
interventions) 97% teacher set goals 97% teacher set goals 94% teacher set goals
Occupational 86% of children 100% of children **90% ** of children achieved
Therapy achieved or
made good		 achieved or made
good progress		 or made good
progress towards
progress towards towards clearer greater readiness
better emotional communication and to learn – settling
regulation and positive social skills to talk, participating
confdence and persisting
with work
Speech 90% of children **88% ** children achieved **90% ** of children achieved
and achieved or or made good or made good
Language
Therapy		 made good
progress towards
better emotional		 progress
towards clearer
communication		 progress towards
greater readiness to
learn – settling to
regulation and positive talk, participating and
and confdence social skills persisting with work

of children achieved or made good progress towards greater readiness to learn – settling to talk, participating and persisting with work

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Parenting Programme

Of the 30 parents who completed our 8-week online parenting courses in the year, the most common parent goal themes were:

Emotional regulation and 27% co-regulation

Communication 23% and expression

The strongest outcomes were seen in goals regulation, with all paired goals showing clinically significant improvement of 3+ points, followed by communication and relationships:

Regulation 100%

Relationships 80%

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Communication 86%
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Goals focused on parent strategies/skills and confidence/self-esteem also improved but showed a lower rate of clinically significant change.

Influencing Systems Change

Our work has the greatest and most sustainable impact when we strengthen the environments and systems in which children spend most of their time. By equipping the adults who care for and work with children to better understand their needs, we help ensure they can provide consistent and confident support.

In the year, we provided:

By equipping teachers and professionals with the knowledge and skills to create more supportive environments, we seek to enable lasting, systemic change in schools and across the SEMH field.

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The Corner School

Children at the Corner School were assessed against National Curriculum levels and set bespoke academic goals aligned to their stage of learning. These goals were embedded into classroom learning, enabling education staff and therapists to work collaboratively to support each child’s progress.

We were proud to maintain a ‘Good’ Ofsted rating following our most recent standard inspection in November 2025.

All children have access to appropriate therapeutic interventions.

During the year, 14 children received OT input and, among those who set OT goals, 100% fully achieved their goals.

15 children accessed SaLT during the school year. Children at the Corner School often have more complex communication needs and may work towards multiple goals over a number of years. Across this school year, children worked towards 48 SaLT goals, with 92% at least partially achieved, demonstrating strong progress towards their identified outcomes.

Across the year a total of 680 therapy sessions were delivered: 340 1:1 therapy; 226 SaLT and 114 OT, providing integrated educational and therapeutic support for children with complex needs.

All children engaged with psychotherapy during the year, either through individual therapy or through universal and informal therapeutic support. A total of 340 1:1 therapy sessions were delivered and all children demonstrated progress across the year.

The school psychotherapist also supported parents through parent meetings, attending 33 across the school year, providing space for reflection alongside guidance and practical strategies to strengthen understanding of, and responses to, their child’s emotional needs, Good progress was seen across Goal Based Outcomes with 75% of goals showing improvement and 50% showing clinically significant improvement of 3 or more points.

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Educational Progress

Key Stage 2 Classes

of children made progress from their starting points in 100% Mathematics, Reading and Writing

100%

of children made progress in phonics in this academic year

Early years foundation stage (EYFS) Key Stage 1 (KS1) Class

Children in the EYFS/KS1 class work within the early years foundation Stage framework, which includes seven areas of development:

Communication and Language

100%

developed social phrases and engaged with learn rhymes, poems and songs.

Literacy

100%

were able to recognise individual letters and identify the sounds they represent.

Understanding the World

80%

can name and describe familiar people and explore the natural world around them.

Personal, Social and

Emotional Development

80%

built constructive and respectful relationships and developed the ability to express and understand feelings.

Mathematics

80%

were able to count objects, actions and sounds, count beyond ten, and explore the composition of numbers to ten.

Expressive Art and Design

80%

engaged with music and movement, expressing their feelings and responses and participating in music-making and dance.

Physical Development

80%

developed small motor skills, enabling them to use tools such as pencils for drawing and writing safely and confidently.

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Financial Review

For the year ended 31 August 2025 Full details are given on pages 30-47.

The charity remained financially stable during the year, with income continuing to grow and expenditure closely aligned with programme delivery. The modest surplus generated reflects careful financial management while maintaining investment in the charity’s core services and strategic development.

Total income for the year amounted to £3,173,204 (prior year: £2,917,453) and total expenditure incurred amounted to £3,128,084 (prior year: £2,908,428). The resulting surplus of income over expenditure for the year was £45,120 (prior year surplus: £9,027).

The charity continued to maintain a diverse income base, including grants from trust and foundations, programme income from schools and local authorities, and matched funding campaigns.

Donations and grants represented 51% of total income during the year. Total donations and grants in the year were £1,622,256 (prior year: £1,524,424).

Our sincere appreciation goes to all of our supporters who have given so generously during the year to support our work. Particular thanks are given to those who have pledged multi-year funding which allows us to plan and develop our services with greater confidence and has enabled us to expand our Schools Programme and reach more vulnerable children.

We were particularly grateful for three-year funding of £150,000 per year from the Rausing Charitable Trust, to support the development of our Family Support Programme pilot. The first year’s funding of £150,000 has been recognised as deferred income at the year end, aligning with the start of delivery of the pilot programme in the following financial year. The charitable expenditure attributable to the Family Support Programme pilot during the year relates to time spent planning and developing the programme.

Income from charitable activities continues to represent a significant proportion of the charity’s overall income. Fee income from the Schools Programme was £606,638 (prior year: £614,316) while local authority placement fees at the Corner School totalled £895,927(prior year: £718,851).

As shown in the Statement of Financial Activities (SOFA), the majority of the Charity’s expenditure relates directly to its charitable activities.

Fee income from the Schools Programme contributed 36% (prior year: 37%) towards the total cost of delivering the programme, with the balance funded through donations and grants.

Schools choose a package of support that matches their needs and available resources. However, some schools are finding this increasingly challenging as budgets have tightened, alongside falling birth rates and migration out of London, requiring difficult financial decisions.

The Corner School ended the year with fifteen children on roll, one of whom was transitioning to secondary school. Income from five local authorities for school placement fees contributed 76% (prior year: 67%) towards the total cost of the Programme during the year, with the balance funded by donations, grants and the designated fund established to support the school.

As noted elsewhere in this report, The Corner School transferred to The Mulberry Bush Organisation on 1 February 2026, after the year end. In connection with this transfer, a payment of £650,000 was made to the Mulberry Bush Organisation. Fixed assets relating to the school, with a cost of £281,894 and a net book value of £64,756 were also transferred as part of the arrangement.

In preparation for this transfer, the Trustees allocated an additional £250,000 to the Corner School designated fund at the year end, increasing the total designated amount to £650,000.

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Income from the Schools contributing to the costs of the Schools Programme and the Corner School local authority placement fees is recognised as income from charitable activities and applied to support the delivery of those programmes.

The Trustees continue to monitor financial risks closely, including pressures on school budgets and the wider economic environment, which may affect demand for services and fundraising income. The charity’s reserves policy and forward financial planning are designed to mitigate these risks.

Reserves

The charity requires reserves to ensure continuity of services for beneficiaries and to support the achievement of its charitable aims and objectives.

The Trustees have established a reserves policy in relation to unrestricted free reserves (those funds that are freely available). The policy is linked to the charity’s strategic plans and states that free reserves should be maintained at a level equivalent to three to six months’ operational expenditure.

Total reserves at 31 August 2025 amounted to £1,708,512.

The free reserves at 31 August 2025 were £870,637, after excluding designated funds of £650,000, fixed asset funds of £87,875 and restricted funds of £100,000.

The free reserves represent four months of future operating costs, which the Trustees consider to be within the target range set out in the reserves policy.

The Trustees review the reserves policy regularly to ensure that it continues to reflect the needs and financial position of the charity. The visibility provided by multi-year grants from Trusts and Foundations gives the Trustees confidence regarding the ongoing financial sustainability of the organisation.

The Trustees have a reasonable expectation that the charity has adequate resources to continue in operating for the foreseeable future, and the financial statements have therefore been prepared on a going concern basis.

Income Generation

The charity did not undertake active public fundraising during the year. However, we participated in two BigGive matched funding campaigns during the year. We are grateful to our BigGive Champion, The Childhood Trust who generously supported us with matched funding of £75,000 across the two campaigns in the year.

No complaints were received in relation to fundraising activities, and the charity remains registered with the Fundraising Regulator.

We will continue to grow our non-founder Trustee financial support base by diversifying our network of high-net-worth donors, increasing funding from trusts and foundations, and exploring opportunities for commissioned services and partnerships.

We remain extremely grateful to all of our supporters for their generosity during the year.

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Risk Management

The Board and leadership team recognise that sound risk management is fundamental to good governance and effective management. Risk management is embedded into the charity’s decision-making processes and forms an integral part of strategic and operational planning. Risk assessments are conducted for all required activities, and a comprehensive Risk Register covering all key risks is maintained, updated and reviewed quarterly by the leadership team. In addition, the Finance and Risk Committee and Trustee Board review the Risk Register at every meeting. The principal risks and uncertainties identified by the charity are outlined below:

Safeguarding

As we work with vulnerable children, young people and families, safeguarding is central to everything we do. We maintain a comprehensive safeguarding framework to manage associated risks and respond appropriately to all safeguarding concerns.

A dedicated Safeguarding Risk Register is maintained and reviewed by both the Clinical Governance and Safeguarding Committee and the Trustee board to ensure rigorous oversight.

Financial

The charity is reliant on a small number of key individuals. However, these individuals have demonstrated long-standing commitment and expertise. The CEO, Head of Fundraising and leadership team and Trustees are actively working to diversify income streams. This includes securing grants and multi-year funding from Trusts and Foundations and high net worth individuals for specific programmes.

Our Schools Programme has grown significantly in recent years. While we recognise the increasing financial pressures on schools, we continue to deliver high quality services that are financially sustainable for both the charity and our partner schools.

The charity has a stand-alone Clinical & Safeguarding Subcommittee, responsible for overseeing clinical governance, safeguarding, and the continuous development of practice. Key roles include a lead Safeguarding Trustee, who supports good practice across the charity. We also have a Trustee with Clinical experience and a Director of Safeguarding & Business Development.

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Future Plans

Building on our new strategic direction, the charity is pursuing ambitious growth to extend the reach and impact of our services. Following the post balance sheet transfer of the Corner School to The Mulberry Bush Organisation, the trustees are focusing the charity’s resources on its core areas of expertise and future growth opportunities. We will focus on forming strong partnerships with organisations that share our vision and values, enabling us to work collaboratively to reach more children and families in need. Through these efforts, we aim to ensure that every child and family who requires support can access the services and interventions that will help them thrive, while continuing to strengthen the charity’s resilience and long-term sustainability.

Our ambition is to:

----- Start of picture text -----
Extend support to more
Reach 60 schools by 2030
children and families
----- End of picture text -----

Strengthen the national movement for early, multidisciplinary support

Shape a future where every child feels supported, equipped and able to achieve their potential

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Structure, Governance & Management

UP – Unlocking Potential is a company limited by guarantee governed by its Memorandum and Articles of Association dated 26 August 2015; updated by special resolution on 18 October 2022. It is registered with the Charity Commission and is a company limited by guarantee.

Organisation

The Board of Trustees administers the Charity. The Trustees met as a Board three times in the year. Throughout the year the board operated the following committees, made up of Trustees, leadership team members and advisers:

Finance & Risk Committee:

This committee is Chaired by the treasurer.

Clinical & Safeguarding Committee: This committee is Chaired by the lead Safeguarding Trustee.

Corner School Education Committee: This committee is Chaired by Carrie Herbert.

Our Chief Executive appointed by the board manages the day-to-day operations of the charity.

The Chief Executive has delegated authority, within the terms of delegation approved by the Trustees, for operational matters including finance, employment, and the delivery of the services.

The Chief Executive is supported by a leadership team – this year our leadership team included:

The Trustees recognise the need to invest in experienced and talented staff to ensure their agreed programmes, policies and procedures can be implemented.

The Trustees consider the Board of Trustees and the leadership team to comprise the key leadership personnel of the charity in charge of directing and controlling, running and operating the Charity on a day to day basis. All Trustees give of their time freely. Expenses and related party transactions are disclosed in note 8, 9 and 19 to the accounts. The remuneration of the key management personnel is discussed and approved by the Board who ensure salary packages are benchmarked against comparable parts of the voluntary sector.

The Charity would like to warmly thank the Trustees for their tremendous support that they have provided over the year.

Charity Governance Code for larger charities

The Board recognises the importance of the Charity Governance Code for larger charities in promoting good governance in the charity sector. Trustees have assessed the charity’s application of the relevant principles from the code.

Appointment of Trustees

The Board currently comprises 10 members. When considering new Trustees, the Board has regard to the requirements for any specialised skills needed.

Trustee Induction and Training

New Trustees undergo an induction process to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision-making process, the business plan and recent financial performance of the Charity.

In addition, new Trustees meet key staff and other Trustees and are encouraged to attend the programmes. New Trustees are encouraged to undertake appropriate training which will facilitate them in undertaking their role. All Trustees continue to receive training on an ongoing basis.

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Equality, Diversity, Inclusion and Belonging (EDIB)

The Trustees and leadership team are committed to creating a more diverse, equitable and inclusive workplace for our staff and beneficiaries. We have representatives within each service area who champion and improve EDIB within their areas and the wider organisation, we identify and deliver key objectives via an annual action plan that is under continual review.

Statement of the Board of Trustees Responsibilities for the Financial Statements

The Trustees, who are also directors of UP – Unlocking Potential for the purpose of company law, are responsible for preparing the Trustee’s Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year and not approve the financial statements unless they are satisfied that the financial statements give a true and fair view of the state of the affairs of the Charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the year then ended.

In preparing those financial statement which give a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for prevention and detection of fraud and other irregularities.

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.

Each of the directors, who held office at the date of approval of this Trustees’ Report, has confirmed that there is no information of which they are aware which is relevant to the audit but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditors are made aware of such information.

In preparing this report, the trustees have taken advantage of the exemptions available to small companies and have not prepared a strategic report.

Approved by the Trustees on 21 April 2026 and signed on their behalf by:

Stuart Roden, Trustee (Chair)

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Independent auditor’s report to the members of UP - Unlocking Potential

Opinion

We have audited the financial statements of UP – Unlocking Potential for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and 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 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 charitable company’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 trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. 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.

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.

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Opinions 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the directors’ 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:

The charitable company financial statements are not in agreement with the accounting records and returns; or

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 26, 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 charitable company’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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to compliance with OFSTED regulations and compliance with company and charity law applicable in England and Wales, we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006, the Charities Act 2011 and payroll taxes.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the cut-off of income, posting inappropriate journal entries to income and management bias. Audit procedures performed by the engagement team included:

Inspecting correspondence with regulators and tax authorities;

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 noncompliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 charitable company’s 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 charitable company’s members those matters we are required to state to them in an Auditor’s 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 charitable company and the charitable company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Steve Harper (Senior Statutory Auditor)

For and on behalf of HaysMac LLP, Statutory Auditor

Date: 22/04/2026

10 Queen Street Place London EC4R 1AG

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Statement of Financial Activities

(Incorporating an Income and Expenditure Account) For the year ended 31 August 2025

Notes
INCOME FROM:
Donations and grants
2
Charitable activities
3
Investments
Other
Total Income
13
EXPENDITURE ON:
Charitable activities
4
Raising funds
5
Total Expenditure
13
Net income
8
Net movement in funds
Funds brought forward
Funds at 31 August 2025		 2025
Unrestricted
Funds
£
1,422,050
-
48,383
-
1,470,433
1,235,247
202,566
1,437,813
32,620
32,620
1,575,892
1,608,512		 2025
Restricted
Funds
£
200,206
1,502,565
-
-
1,702,771
1,690,271
-
1,690,271
12,500
12,500
87,500
100,000		 Year Ended
31 August 2025
Total Funds
£
1,622,256
1,502,565
48,383
-
3,173,204
2,925,518
202,566
3,128,084
45,120
45,120
1,663,392
1,708,512		 Year ended
31 Aug 2024
Total Funds
£
1,524,425
1,333,167
49,984
9,877
2,917,453
2,725,627
182,799
2,908,426
9,027
9,027
1,654,365
1,663,392

All of the above results were derived from continuing activities. The statements of financial activities included all gains and losses recognised in the year. Full comparatives for the Statement of Financial Activities are shown in note 21.

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Balance sheet

At 31 August 2025

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Short term deposits and cash in hand
CURRENT LIABILITIES
Creditors: amounts falling
due within one year
12
NET CURRENT ASSETS
NET ASSETS
FUNDS
Unrestricted funds
General fund
13,14
Fixed asset fund
13,14
Designated fund
13,14
Restricted funds
TOTAL CHARITY FUNDS		 31 August
2025
£
87,875
186,879
1,792,986
1,979,865
359,228
1,620,637
1,708,512
870,637
87,875
650,000
1,608,512
100,000
1,708,512		 31 August
2024
£
120,152
190,211
1,501,164
1,691,375
148,135
1,543,240
1,663,392
1,055,740
120,152
400,000
1,575,892
87,500
1,663,392

Approved and authorised for issue by the Trustees on 21 April 2026 and signed on their behalf by:

William de Winton, Trustee (Treasurer) The notes on pages 33-47 form part of these financial statements.

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Statement of Cash Flows

For the year ended 31 August 2025

Notes
Cash fows from operating activities
18
Cash fows from investing activities
Interest income
Purchase of tangible fxed assets
Cash provided by investing activities
Increase in cash and cash
equivalents in the year
Cash and cash equivalents at the
beginning of the year
Total cash and cash equivalents
at the end of the year		 31 August
2025
£
254,088
48,383
(10,649)
37,734
291,822
1,501,164
1,792,986		 31 August
2024
£
53,452
49,984
(8,019)
41,965
95,417
1,405,747
1,501,164

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Notes to the Financial Statements

For the year ended 31 August 2025

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

These financial statements have been prepared in accordance with the Companies Act 2006, the Statement of Recommended Practice: Accounting and Reporting by Charities (Second Edition, effective 1 January 2019), and in accordance with the Financial Reporting Standard 102 (FRS 102).

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

Preparation of accounts on a going concern basis

The trustees consider there are no material uncertainties about the Charity’s ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees confidence the charity remains a going concern for the foreseeable future. Additionally the Trustees are committed to growing our non- founder Trustee donor base by diversifying our network of high net worth donors, increasing funding from trust and foundations for our programmes, and exploring commissioning routes. The Trustees are satisfied that the Charity has adequate resources to continue in operation for the foreseeable future and, accordingly these financial statements have been prepared on the basis that the Charity is a going concern.

Critical accounting judgements and estimates

In preparing these financial statements, the Trustees have made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Trustees consider that there are no critical areas of judgement or estimation uncertainty in preparing these accounts.

Income recognition

All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably.

Donations and legacies

Donations and gifts and are included in full in the Statement of Financial Activities when there is entitlement, probability of receipt and the amount of income receivable can be measured reliably.

Grants

Grants are recognised in full in the statement of financial activities in the year in which the charity has entitlement to the income, the amount of income receivable can be measured reliably and there is probability of receipt.

Government Grants

In the prior year, government grant income represents Department for Education funding for the Recovery Premium Grant ant Tutoring Grant for Brent pupils at the Corner School

Income from charitable activities

Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods are provided.

Investment income

Investment income is recognised on a receivable basis once the amounts can be measured reliably.

Expenditure

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

Expenditure on charitable activities comprises costs of services and support costs.

The charity is registered for VAT and is partially exempt due to a mixture of taxable and exempt activities.

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

Where VAT is recoverable, the amounts are stated net of VAT.

Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time attributable to each activity.

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Notes to the Financial Statements

For the year ended 31 August 2025

Allocation of costs

Staff costs are allocated between direct charitable expenditure and support costs based on the time spent on these activities. Other costs are allocated directly to the relevant heading.

Operating leases

Rental charges are charged on a straight-line basis over the life of the lease.

Fixed assets

Fixed assets are stated at cost or deemed cost (donated valuation at estimated fair value) less accumulated depreciation and impairment losses. Assets costing more than £500 are capitalised.

Depreciation is calculated to write off the costs of the fxed
asset by equal instalments as follows, all straight line:
Furniture, fttings
5 years straight line
and equipment
Computer Equipment
3years straight line
CateringEquipment
3years straight line
Leasehold improvements
Life of lease
Playground Equipment
Over the life of the lease
at the Corner School

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Creditors and provisions

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

Funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity. Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.

Employee benefits

Pension contributions represent amounts paid into personal pension plans and the Teachers’ Pension Scheme for employees.

Foreign currency translation

The charities functional and presentation currency is pound sterling. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are recognised in the SOFA.

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 twelve months or less from the date of acquisition or opening of the deposit or similar account.

Legal status

UP - Unlocking Potential is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. Its operating office is shown on page 2.

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Notes to the Financial Statements

For the year ended 31 August 2025

2. Donations and Grants

Donations
Government Grants		 2025
Total
£
1,620,896
1,360
1,622,256		 2024
Total
£
1,524,425
-
1,524,425

3. Income from Charitable Activities

Schools Programme
Corner School
Schools Programme
Corner School		 Schools &
Universities
£
606,638
-
606,638
Schools &
Universities
£
614,316
-
614,316		 Local
Authority
£
-
895,927
895,927
Local
Authority
£
-
718,851
718,851		 2025
Total
£
606,638
895,927
1,502,565
2024
Total
£
614,316
718,851
1,333,167

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Notes to the Financial Statements

For the year ended 31 August 2025

4. Analysis of Charitable Expenditure

Schools Programme
Corner School
Family Support Programme
Schools Programme
Corner School		 Direct
Costs
Staff
£
1,254,301
700,038
16,741
1,971,080
Direct
Costs
Staff
£
1,245,774
650,336
1,896,110		 Direct
Costs
Other
£
179,280
290,280
1,672
471,232
Direct
Costs
Other
£
201,917
275,663
477,580		 Support
Costs
(Note 6)
£
267,583
190,427
25,196
483,206
Support
Costs
(Note 6)
£
205,581
146,356
351,937		 2025
Total
£
1,701,164
1,180,745
43,609
2,925,518
2024
Total
£
1,653,272
1,072,355
2,725,627

5. Costs of Generating Funds

Costs of generating funds
Costs of generating funds		 Direct
Costs
Staff
£
105,827
Direct
Costs
Staff
£
93,255		 Direct
Costs
Other
£
17,629
Direct
Costs
Other
£
12,122		 Support
Costs
(Note 6)
£
79,110
Support
Costs
(Note 6)
£
77,422		 2025
Total
£
202,566
2024
Total
£
182,799

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Notes to the Financial Statements

For the year ended 31 August 2025

6. Analysis of Support Costs

Schools Programme
Corner School
Family Support Programme
Charitable Expenditure (note 4)
Generating Funds (note 5)		 Staff
Costs
£
145,840
111,202
18,567
275,609
56,320
331,929		 Resources
£
21,878
14,488
1,355
37,721
4,542
42,263		 Professional
Fees
£
67,401
39,984
1,141
108,526
5,711
114,237		 Governance
£
32,464
24,753
4,133
61,350
12,537
73,887		 2025
Total
£
267,583
190,427
25,196
483,206
79,110
562,316
Staff Professional 2024
Costs Resources Fees Governance Total
£ £ £ £ £
Schools Programme 131,033 17,043 24,813 32,692 205,581
Corner School 96,220 11,085 14,887 24,164 146,356
Charitable Expenditure (note 4) 227,253 28,128 39,700 56,856 351,937
Generating Funds (note 5) 58,146 3,408 1,654 14,214 77,422
285,399 31,536 41,354 71,070 429,359

7. Governance Costs Include

Staff Costs
Auditor's remuneration
Other		 2025
£
53,977
19,710
200
73,887		 2024
£
50,969
19,800
301
71,070

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Notes to the Financial Statements

For the year ended 31 August 2025

8. Net Income

2025 2024
£ £
This is after charging
Auditor’s remuneration (including a percentage of irrecoverable VAT)
Audit 19,710 19,800
Other Services 2,910 900
Expenses reimbursed to Trustees – Overnight Accommodation - 200
Depreciation 38,845 44,725

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Notes to the Financial Statements

For the year ended 31 August 2025

9. Staff Costs and Numbers

Staff costs were as follows:
Salaries and wages
National Insurance
Pension Contributions		 2025
£
2,090,057
221,442
151,314
2,462,813		 2024
£
2,018,021
196,928
110,784
2,325,733

The number of employees whose emoluments fell within the following bands were:

2025 2024
£60,001 - £70,000 2 1
£70,001 - £80,000 - 1
£80,001 - £90,000 1 -
£90,001 - £100,000 1 1

The total amount of expenses reimbursed to Trustees in the year was £0 (2024: £200 to one Trustee). No Trustee received remuneration in the current or prior year.

The total employee benefits of the key management personnel of the charity in the year were £611,485 (2024: £568,976).

The key management personnel of the charity in the year are considered to be the Chief Executive & Clinical Director, Finance & Resources Director, Head of HR, the Schools Programme Director, the Interim Schools Programme Director, the Headteacher of the Corner School ,the Director of Safeguarding & Business Development and the Head of Fundraising.

The average number of employees during the year was as follows:

Schools Programme
Corner School
Family Support Programme
Raising Funds
Support - Management
Average number of employees		 2025 Full time
equivalent
staff numbers
23
14
0.2
2
5
44.2		 2024 Full time
equivalent
staff numbers
24
14
-
2
5
45		 2025
Staff
Numbers
43
15
1
2
7
68		 2024
Staff
Numbers
43
17
-
2
6
68

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Notes to the Financial Statements

For the year ended 31 August 2025

10. Fixed Assets

Catering
Equipment
£
Cost
At 1 September 2024
2,925
Additions
-
Disposals
-
Balance at 31 August 2025
2,925
Accumulated depreciation
At 1 September 2024
2,102
Charge for the year
585
Disposals
-
Balance at 31 August 2025
2,687
Brought forward at 1 September 2024
823
Carried forward at
31 August 2025
238		 Leasehold
Improvements
£
207,960
-
(9,226)
198,734
120,703
21,694
(5,145)
137,252
87,257
61,482		 Furniture,
Fittings &
Equipment
£
122,424
10,649
(20,525)
112,548
106,894
12,251
(20,525)
98,620
15,530
13,928		 Playground
Equipment
£
37,566
-
-		 Total
£
370,875
10,649
(29,751)
37,566 351,773
21,024
4,315
-		 250,723
38,845
(25,670)
25,339 263,898
16,542
12,227		 120,152
87,875

11. Debtors: amounts falling due within one year

Trade debtors
Prepayments and accrued income
Other debtors		 2025
£
36,855
55,009
95,015
186,879		 2024
£
59,309
55,824
75,078
190,211

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Notes to the Financial Statements

For the year ended 31 August 2025

12. Creditors: amounts falling due within one year

Trade Creditors
Other taxation and social security
Accruals and deferred income
Other creditors		 2025
£
54,244
68,062
220,197
16,725
359,228		 2024
£
10,718
47,556
76,638
13,223
148,135

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Notes to the Financial Statements

For the year ended 31 August 2025

13. Analysis of funds

General Fund
Designated Funds
Fixed Asset Fund
Total Unrestricted Funds
Restricted Funds:
Schools Programme – Schools
Schools Programme – Universities
Schools Programme – Grants
Schools Programme – Donations
Corner School – Local Authority
Corner School Grants
Total Restricted Funds
Total Funds		 At
1 September
2024
£
1,055,740
400,000
120,152
1,575,892
-
-
87,500
-
-
-
87,500
1,663,392		 Income
£
1,470,433
-
-
1,470,433
589,884
16,754
192,000
6,846
895,927
1,360
1,702,771
3,173,204		 Expenditure
£
(998,968)
(400,000)
(38,845)
(1,437,813)
(589,884)
(16,754)
(179,500)
(6,846)
(895,927)
(1,360)
(1,690,271)
(3,128,084)		 Transfers
£
(656,568)
650,000
6,568
-
-
-
-
-
-
-
-		 At
31 August
2025
£
870,637
650,000
87,875
1,608,512
-
-
100,000
-
-
-
100,000
1,708,512

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For the year ended 31 August 2025

Notes to the Financial Statements

General Fund
Designated Funds
Fixed Asset Fund
Total Unrestricted Funds
Restricted Funds:
Schools Programme – Schools
Schools Programme – Universities
Schools Programme – Grants
Schools Programme – Donations
Corner School – Local Authority
Corner School Grants
Insurance Claim
Total Restricted Funds
Total Funds		 At
1 September
2023
£
1,120,132
350,000
156,858
1,626,990
-
-
25,000
-
-
2,375
-
27,375
1,654,365		 Income
£
1,251,734
-
-
1,251,734
594,678
19,638
197,500
125,175
718,851
-
9,877
1,665,719
2,917,453		 Expenditure
£
(908,107)
(350,000)
(44,725)
(1,302,832)
(594,678)
(19,638)
(135,000)
(125,175)
(718,851)
(2,375)
(9,877)
(1,605,594)
(2,908,426)		 Transfers
£
(408,019)
400,000
8,019
-
-
-
-
-
-
-
-
-
-		 At
31 August
2024
£
1,055,740
400,000
120,152
1,575,892
-
-
87,500
-
-
-
-
87,500
1,663,392

Designated funds

A designated fund had been created to develop the school and cover forecast operating deficits. In preparation for the transfer, the trustees increased the designated fund to £650,000 to cover the expected Transfer Payment on transferring ownership of the school.

Fixed Asset fund

The fixed asset fund represents a transfer of the net book value of the fixed assets at the end of the year. These funds are in a separate fund to show they are not freely available to be utilised by the charity.

Restricted funds

Restricted funds have been received during the year in respect of specific projects operated by the charity.

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Notes to the Financial Statements

For the year ended 31 August 2025

14. Analysis of Net Assets by Fund

Fixed Assets
Net current assets
Total
Fixed Assets
Net current assets
Total		 General
Funds
£
87,875
870,637
958,512
General
Funds
£
120,152
1,055,740
1,175,892		 Designated
Funds
£
-
650,000
650,000
Designated
Funds
£
-
400,000
400,000		 Restricted
Funds
£
-
100,000
100,000
Restricted
Funds
£
-
87,500
87,500		 2025
Total
£
87,875
1,620,637
1,708,512
2024
Total
£
120,152
1,543,240
1,663,392

15. Post Balance Sheet Event

Subsequent to the year end, the charity completed the transfer of The Corner School to The Mulberry Bush Organisation. There was no legal obligation to transfer the Corner School until after the balance sheet date and, accordingly, this represents a non-adjusting post balance sheet event. No adjustments have been made to the amounts recognised in these financial statements for the year ended 31 August 2025.

In connection with the transfer, a payment of £650,000 was made to The Mulberry Bush Organisation. Fixed assets relating to the school, with an original cost of £281,894 and a net book value of £64,756 at the date of transfer, were also transferred as part of the arrangement.

The costs will be recognised in the financial statements for the year ending 31 August 2026, reflecting the payment made and the net book value of assets transferred.

The trustees consider that the transfer safeguards the long-term interests of beneficiaries and allows the charity to focus resources on its core charitable purposes.

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Notes to the Financial Statements

For the year ended 31 August 2025

16. Operating Lease Commitments

At the year end the charity was committed to making the following payments in total in respect of operating leases.

At the year end the charity was committed to making the following
payments in total in respect of operating leases.
Equipment Equipment
2025 2024
Falling due: £ £
Within one year from 31 August 2025 1,960 2,859
Within two to fve years from 31 August 2025 7,498 -
Land and Land and
buildings buildings
2025 2024
Falling due: £ £
Within one year from 31 August 2025 68,256 68,256
Within two to fve years from 31 August 2025 136,512 204,768

Operating lease costs charged to the Statement of Financial Activities in the year ended 31 August 2025 amounted to £101,664 (2024: £107,825).

17. Taxation

The charity is exempt from corporation tax as all of its income is charitable and is applied for charitable purpose. As one of the programmes in the year was the running of an independent specialist school, the charity registered for VAT from January 2025.

The charity is partially exempt for VAT purposes due to a mixture of taxable and exempt activities.

Irrecoverable VAT is included with the expense to which it relates on the Statement of Financial Activities.

Where VAT is recoverable, the amounts are stated net of VAT.

Following the post balance sheet transfer of the Corner School to The Mulberry Bush Organisation (note 15) the charity de-registered for VAT at 28 February 2026.

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Notes to the Financial Statements

For the year ended 31 August 2025

18. Reconciliation of Net Income to Net Cash Inflow from Operating Activities

Net Income for the year
Add back depreciation charge
Loss on sale of fxed asset
Deduct interest income shown in investing activities
Decrease in debtors
Increase / (Decrease) in creditors
Net cash generated in operating activities		 2025
£
45,120
38,845
4,081
(48,383)
3,332
211,093
254,088		 2024
£
9,027
44,725
-
(49,984)
249,749
(200,065)
53,452

19. Related Party Transactions

The total amount of donations received from four Trustees in the year was £927,000 (2024:£858,000 from four Trustees). There were no other related party transactions in the year or prior year.

20. The Teachers’ Pension Scheme

The Corner School participates in the Teachers’ Pension Scheme (The TPS) for its teaching staff . The pension charge for the year includes contributions payable to the TPS of £19,034 (2024: £3,562) and at the year end £0 (2024: £0) was accrued in respect of contributions to this scheme.

The TPS is an unfunded multi-employer defined benefits pension scheme governed by The Teachers’ Pensions Regulations 2010 (as amended) and The Teachers’ Pension Scheme Regulations 2014 (as amended). Members contribute on a ‘pay as you go’ basis with contributions from members and the employer being credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.

The employer contribution rate is set by the Secretary of State following scheme valuations undertaken by the Government Actuary’s Department. The most recent actuarial valuation of the TPS was prepared as at 31 March 2020 and the Valuation Report, which was published in October 2023. The Valuation Report shows notional assets of £222.2bn and liabilities of £262bn, resulting in a scheme deficit of £39.8bn.

The employer contribution rate for the TPS is 28.6%, and employers are also required to pay a scheme administration levy of 0.08% giving a total employer contribution rate of 28.68%.

Following the post balance sheet transfer of the Corner School to The Mulberry Bush Organisation (note 15) the charity no longer participates in the TPS.

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Notes to the Financial Statements

For the year ended 31 August 2025

21. Comparative Statement of Financial Activities for the Year Ended 31 August 2024

Notes
INCOME FROM:
Donations and grants
2
Charitable activities
3
Investments
Other
Total Income
13
EXPENDITURE ON:
Charitable activities
4
Raising funds
5
Total Expenditure
13
Net (expenditure) / income
8
Net movement in funds
Funds brought forward
Funds at 31 August 2024		 2024
Unrestricted
Funds
£
1,201,750
-
49,984
-
1,251,734
1,120,033
182,799
1,302,832
(51,098)
(51,098)
1,626,990
1,575,892		 2024
Restricted
Funds
£
322,675
1,333,167
-
9,877
1,665,719
1,605,594
-
1,605,594
60,125
60,125
27,375
87,500		 Year Ended
31 August 2024
Total Funds
£
1,524,425
1,333,167
49,984
9,877
2,917,453
2,725,627
182,799
2,908,426
9,027
9,027
1,654,365
1,663,392

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Get in Touch

w: up.org.uk

e: hello@up.org.uk

Canopi 82 Tanner Street London SE1 3GN

Registered charity number: 1163932

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